Interim Report for 1st Quarter 2023

Revenues increased 20% and EBIT increased 260%

Key Facts for the 1^st Quarter 2023 (1^st January – 31^st March 2023)

Revenues increased 20% and EBIT increased 260%

All figures are compared to the same quarter last year if not explicitly stated otherwise.

• Revenues increased by 20.12 % to €9,428,231 (€7,848,997).
• EBIT increased by 259.97% to €1,501,926 (€417,239).
• EBIT margin of 15.93% (5.32%).
• Customer deposits increased by 2.10% to €17,599,353 (€17,236,925).
• 53,408 new registered customers (74,751), decrease of 28.55%.
• 11,508 new depositing customers (13,185), decrease of 12.72%.
• Net Profit of €1,136,073 (€15,043).
• Earnings per share of €0.0152 (€0.0002).

• Premiergaming Ltd, the Group’s subsidiary focusing on Northern Europe, represented 3 % of the Group’s revenues in Q1 2023.

                                                  Trading update Q2 2023

The trading update is an indication of how the second quarter 2023 has started, however it is not a revenue forecast for the quarter.

The average daily net gaming revenue in the second quarter 2023 up until and including 12^th of May was 29% higher than the average daily net gaming revenue of the full second quarter 2022.

                                                 Events during Q1 2023

• The Board of Directors, as mentioned in the previous Q-report, does not recommend distribution to shareholders by way of dividend for the fiscal year 2022, given the challenging 2022 and investments in new innovative projects.

• An additional B-to-B casino was signed-up during the quarter with the planned launch date early Q3 this year.

• The Group continue to invest in two of the Group’s relatively new business areas, namely the Sportsbook offer and the Joint Venture within the field of affiliate marketing in South America. Both these projects continue to grow their revenues although still representing a small part of the Group’s revenues.

                                                Events after Q1 2023

• The Annual and Sustainability report together with the Audited Financial Statements for 2022 were published on the 28th of April 2023.

• The two B-to-B partnership casino projects announced earlier are close to launch and are now planned to go live and generate revenues by the end of Q2 2023.

• Due to the encouraging result in Q1 this year and the positive trading update the Board of Directors and the Group CEO have agreed that the Group CEO will continue to be both the Group and Operational CEO in 2023.