11 Bit Studios (11B) Investor Update summary

Recent achievements and operational highlights

• Released five games and 18 major updates across all platforms, earning 34 award nominations and 12 wins, including a Game Award for Best Strategy Game for Frostpunk 2.

• Expanded team, promoted nearly 200 employees, and maintained a low 6% voluntary turnover, reflecting strong organizational health.

• Supported social initiatives, including summer camps for Ukrainian children and significant charity fundraising.

Financial performance and position

• Achieved record revenues of PLN 140 million in 2024, nearly 2.7 times higher than 2023, but reported an operating loss of PLN 2.8 million due to project closures and impairments.

• Net profit for 2024 was PLN 6.9 million, supported by strong financial liquidity, with PLN 70 million in cash and equivalents and equity of PLN 229 million.

• Frostpunk 2 contributed 50% of 2024 revenue, while the original Frostpunk generated 20%, outperforming its previous year.

Strategic evolution and future roadmap

• Transitioning from a two-pillar to a three-pillar model: new games, platform games (long-term support and updates), and external development (XDEV).

• Announced Frostpunk 1886 as the first platform game, a reimagining of Frostpunk 1 with new content, mod support, and a 2027 release target.

• Simultaneous development and support for up to seven titles, including Frostpunk 2, The Alters, Moonlighter 2, Death Howl, and additional new projects (P12, P13, P14).