The share buyback program is to be carried out in accordance with the EU Market Abuse Regulation 596/2014 ("MAR") and the European Commission's Delegated Regulation 2016/1052 (the "Safe Harbor Regulation"). The buybacks of class B shares in Embracer will be carried out by Nordea Bank Abp, Filial i Sverige, which, independently of Embracer, will decide on the buybacks and the timing of the buybacks.

The purpose of the buybacks within the buyback program is to reduce the share capital of Embracer in order to optimize Embracer's capital structure and thereby contribute to increased shareholder value. Therefore, the board of directors intends to propose that the repurchased shares under the program are cancelled by way of a reduction of Embracer's share capital at the next annual general meeting.

The share buyback program will be subject to the following terms:

• The buyback program will commence on 20 May 2026 and will continue until no later than 31 March 2027. Buybacks may be made on one or several occasions during the period. The part of the program running after the annual general meeting on 24 September 2026 will be subject to the annual general meeting authorizes the board again to decide on repurchases of own shares.
• The program is designed with consideration for the group’s liquidity needs and seasonal variations, and the buybacks will be spread over the period to ensure financial stability.
• Buybacks of Embracer class B shares may only be effected on Nasdaq Stockholm in accordance with Nasdaq Nordic Main Market Rule Book for Issuers of Shares, MAR and the Safe Harbor Regulation.
• The shares shall be purchased at a price no higher than the higher of the price of the last independent trade and the highest current independent purchase bid on Nasdaq Stockholm and in accordance with the restrictions relating to price in the Safe Harbor Regulation.
• Buybacks may only be effected in accordance with the restrictions regarding volume for acquisitions of own shares stated in the Rulebook and in the Safe Harbor Regulation.
• The maximum cumulative repurchase amount is SEK 750 million. In accordance with the Swedish Companies Act and the authorization under which the board decided on the repurchase, Embracer may not buy more shares that would bring Embracer’s holding of own shares to ten percent of all shares in Embracer.
• Payment for shares will be made in cash.

The total number of shares in Embracer amounts to 228,853,157, divided on 9,000,000 A shares and 219,853,127 B shares. Embracer currently holds 5,580,294 of its own B shares.