Current report No. 25/2022 – Ten Square Games – one of the biggest mobile games development companies in Poland

Reports.

Current

Current report No. 25/2022 .

17 May 2022

The Management Board of Ten Square Games S.A. seated in Wrocław (hereinafter “The Company”) hereby informs that on May 17th, 2022, the Management Board has made the decision to temporarily put a hold on work on one of the Company’s projects, Magical District developed in the Warsaw studio in order to transfer the resources used on the project to speed up the production and increase the quality of Fishing Master, also under development by the Warsaw team. The decision was made in order to focus on enriching the Company’s offer in the mobile free-to-play fishing-themed game segment, where the Company is a market leader. Fishing Master, another fishing-themed game, given its adventure-game character, will allow the Company to reach new player segments, increasing the Company’s chances of solidifying its leadership position in the above-mentioned niche. The Company will consider restarting production on Magical District in late 2022 or early 2023, depending on given internal factors (that is, the company’s human resources and the other games’ growth potential) as well as external factors (that is, market trends, the appearance of competing products). As of May 17th, 2022, the value of capitalized costs connected to the development of the Magical District stands at around PLN 9m.