Publish date: 22 Dec 2021 09:23Regulatory

Company Announcement No. 12-2021

Copenhagen, December 22, 2021

Contains Inside Information

Revenue

• 2021: Full year revenue growth 2021 vs 2020 for game portfolio expected to be between 33-36%, corresponding to DKK 41.0-42.0m compared to latest guidance of DKK 44.7m.

• 2022: Full year revenue 2022 vs 2021 expected to be between DKK 70.0-80.0m compared to DKK 77.9m from the company description.

EBITDA

• 2021: Full year EBITDA of DKK 1.7-2.3m, compared to latest guidance of DKK 6.2m.

• 2022: Full year EBITDA of DKK 4.0-8.0m, compared to DKK 12.3m from the company description.

Cash at hand

Trophy Games expects to leave 2021 with DKK 42.0m cash at hand after the Tiny Titan Studios acquisition. This gives the company plenty of gunpowder for pursuing the growth strategy via acquisitions announced in the company description as well as room for an aggressive marketing approach.

2021: Guidance Update Considerations

Warhammer AoS: Soul Arena release is now expected to be released in late January 2022 (originally expected to be released in 2021), and has subsequently pushed the revenue stream from Q4 2021 to 2022. Our expectations for the game are unchanged.

Pro 11 had some mid-year technical issues concerning in-app sales campaigns which caused a drop in performance. We believe we have now solved these issues.

Based on Airline Manager 4's performance we have invested heavily in further growth at the end of the year in our transport series and expect to continue to do so in 2022 as we are aiming at building a market leading transport manager series.

2022: Big Year Ahead

We expect a strong year ahead for Trophy Games. We have taken a conservative approach towards Warhammer AoS: Soul Arena for the ramp-up year in 2022, expecting approximately DKK 10m in yearly revenue.

Growth in 2022 will also come from the fast growing transport-series, as well as further acquisitions.

Besides Warhammer AoS: Soul Arena Trophy Games will in 2022 release Shipping Manager, taking our total live title portfolio to 11 games, compared to the 5 live titles we had in April 2021 before the IPO. We expect to be able to add even further titles through acquisitions in 2022.

Obs: Trophy Games har en betalt IR-aftale med Proinvestor.com

Contact Information

TROPHY GAMES Development A/S

Søren Gleie, CEO

Office (+45) 7172 7573

Email: soren@trophy-games.com

Mikkel Bryggers Gade 4, 2. sal, 1460 Copenhagen K, Denmark

Certified Adviser

Grant Thornton

Jesper Skaarup Vestergaard

Mobile (+45) 3179 9000

Stockholmsgade 45, 2100 Copenhagen Ø, Denmark