Embracer Group AB (publ) (EBCRY) Shareholder/Analyst Call Transcript

Embracer Group AB (publ) ( EBCRY ) Shareholder/Analyst Call September 24, 2026 8:30 AM EDT Company Participants Lars Wingefors - Chair of the Board & Co-Founder Ian Gulam - Chief of Staff, Legal & Governance Atieh Jardenas - Head of Governance & Compliance Legal Philip Rogers - Chief Executive Officer Muge Bouillon - Deputy CEO & Group CFO Per Fredriksson - Senior Advisor Conference Call Participants Jacob Edler - Danske Bank A/S, Research Division Joachim Spetz Erik Granström Magnus Svensson Henryson Conversation Lars Wingefors Chair of the Board & Co-Founder Dear shareholders, it's a great pleasure to welcome you all to this year's Annual General Meeting in Embracer Group. And of course, welcome to Karlstad. We have been holding our AGMs here for quite a few years now, 8 to be very specific. Those of you who know me will probably not be surprised that I think this has become a tradition we are very proud of. It's always special for me to welcome shareholders here in my hometown and in Värmland. So a warm welcome to all of you here today and those joining us online. With that, I hereby declare the meeting open. And standing here in Karlstad today, it's hard not to think about how much has happened since we started this journey. Almost 10 years ago, in November 2016, we listed THQ Nordic. One share costed SEK 20 at the time. I remember standing in the front of our new shareholders. And I said a few things that day. One of them was stay tuned. A lot has happened since then. Some things went very well. Some things didn't. And I could not have predicted most of it. The way we have created value has changed along the way, sometimes by building, sometimes by acquiring, sometimes by selling and sometimes by giving a business the freedom to stand