PRESS RELEASE

The Board of Directors of Digital Bros Group approves the First Quarterly Report at September 30th,

2021 (first three months of fiscal year 2021 - 2022)

FIRST QUARTER RESULTS:

• • REVENUES AT €25 MILLION
  • BACK CATALOGUE REVENUES +35%
  • 97% OF REVENUES REALIZED ON INTERNATIONAL MARKETS
  • 86% OF REVENUES REALIZED ON DIGITAL MARKETPLACES
  • EBIT AT €4.5 MILLION, 18.1% OF NET REVENUES
  • NET PROFIT OF €4 MILLION
  • NET FINANCIAL POSITION POSITIVE OF € 32.4 MILLION
  • BUSINESS OUTLOOK FOR THE FISCAL YEAR CONFIRMED POSITIVE
• Consolidated gross revenues of €25 million, down by 35.8% compared to €38.9 million on September 30th, 2020, when the launches of the best-selling games Death Stranding and the Steam version of Control occurred
• 97% of revenues realized on international markets and 86% on digital marketplaces
• Back catalogue revenues increased by 35%
• EBITDA at €7.8 million, compared to €18.4 million on September 30th, 2020
• EBIT of €4.5 million, compared to €10.4 million on September 30th, 2020, 18.1% of consolidated net revenues
• Profit before tax of €5.8 million, compared to €11 million on September 30th, 2020
• Net profit of €4 million, compared to €7.9 million on September 30th, 2020
• Positive net financial position of €32.4 million (€37 million excluding the IFRS 16 effect)
• The business outlook for the full fiscal year confirmed positive in sync with the outstanding financial results realized in the last fiscal year

Rami Galante, Chairman and CEO of Digital Bros Group commented: "Today we present our first quarter results, which are not really comparable with the previous. Last year's revenues benefitted from the launch of Death Stranding, one of the best-sellingvideogames we have ever published, we also published the Steam version of Control. This fiscal year is back-endedin terms of revenues with the most highly anticipated launch scheduled for release in the second half of the year. This game will be the first of a pipeline of high-qualityreleases up to and beyond 2026, strengthened by the investment plan already in place. Today we

reiterate the full fiscal year business outlook previously communicated in sync with the outstanding revenues and margins realized last year."

Milan, November 11th, 2021 - The Board of Directors of Digital Bros Group (DIB:MI), which is listed on the Euronext STAR segment of Borsa Italiana and operates in the videogames market, today approved the quarterly report for the period ended September 30th, 2021 (first three months of the fiscal year from July 1st, 2021 to June 30th, 2022).

RESULTS FOR THE FIRST THREE MONTHS OF FISCAL YEAR 2021-2022 (AT 30.09.2021)

Digital Bros Group's key consolidated results for the first three months of fiscal year 2021-2022, together with prior period comparatives, are as follows:

• Consolidated gross revenues of €25 million, compared to €38.9 million on September 30th, 2020 (-35.8%YoY);
• EBITDA of €7.8 million, compared to €18.4 million on September 30th, 2020;
• EBIT of €4.5 million, compared to €10.4 million on September 30th, 2020;
• Profit before tax of €5.8 million, compared to €11 million on September 30th, 2020;
• Net profit of €4.0 million, compared to €7.9 million on September 30th, 2020.

RESULTS BY OPERATING SEGMENT

New video games releases are planned for the second half of the fiscal year, to that extent, the revenues of the first quarter were entirely derived from the sale of back catalogue. Revenues for the quarter amounted to €25 million, decreasing by 35.8%

compared to the previous fiscal year, when the best-seller video game Death Stranding and the Steam version of Control were initially launched. Good performance was realized by back catalogue sales that grew by 35%, increasing by €6.1 million compared

to the last fiscal year quarter.

The quarterly revenues were a mix of different but existing products, being the revenues made exclusively by back catalogue

revenues. The quarterly best-selling videogame has been the evergreen Assetto Corsa, IP owned by the Group, which realized €4 million during the period.

International markets revenues were 97% of the total consolidated revenues in the quarter.

A breakdown by operating segment for the period ended September 30th, 2021 compared to the period ended September 30th,

2020 is provided below:

The Premium Games operating segment represented 90% of the consolidated gross revenues. Video games developed by the internal studios and intellectual properties owned by the Group accounted for 32% of the consolidated revenues in the period. 52% of revenues came from the sale of co-owned IPs and long-term agreements (more than ten years). A breakdown of Premium Games revenues by type of rights held by the Group at September 30th, 2021 is provided below with comparative figures at September 30th, 2020:

The Free to Play operating segment showed a 19.1% decrease, from € 2.2 million at September 30th, 2020 to €1.8 million. The main Free to Play product launch of the current year, Puzzle Quest 3, will be globally available in the second half of the fiscal.

The Italian Distribution operating sector revenues decreased by 64.9% (from €1.7 million down to €0.59 million) in sync with the continuous decline of retail distribution and accelerated by the effects of the COVID-19 pandemic.

Digital Bros Group's revenues and earnings by operating segments for the period are as follows:

The EBITDA realized in the quarter has been €7.8 million corresponding to 31.4% of the consolidated net revenues, a decrease of €10.6 million compared to the €18.4 realized in the previous year.

Depreciation and amortization decreased by €4.7 million.

The quarterly EBIT amounted to €4.5 million decreasing by €5.9 million compared to €10.4 million as at September 30th, 2020. The EBIT stood at 18.1% of the consolidated gross revenues for the quarter (-26.9%).

Net income was positive for €1.3 million, compared to €0.59 million realized in the previous year.

Profit before tax for the period ended September 30th, 2021 amounted to €5.8 million, a decrease of €5.1 million compared to profit before tax of €10.97 million as at September 30th, 2020.

Net profit for the period amounted to €4.0 million compared to €7.88 million as at September 30th, 2020.

Net profit attributable to the shareholders of the Group was €4.1 million.

Basic profit per share and diluted profit per share were respectively €0.29 and €0.28 compared to the €0.55 and €0.54 profit per share as at September 30th, 2020.

NET FINANCIAL POSITION

The Net Financial Position amounted to €32.4 million, compared to €38.3 million as at June 30th, 2021, decreasing, as expected, by €5.8 million. Excluding the IFRS 16 effect, the Net Financial Position amounted to €37 million.

TREASURY SHARES

It is hereby disclosed that as at September 30th, 2021 Digital Bros S.p.A. did not hold any treasury shares, as no transactions have been performed in the period, pursuant to Art. 2428 paragraph 2.3 of the Italian Civil Code.

SIGNIFICANT EVENTS DURING THE PERIOD

There were no significant events during the period.

SIGNIFICANT EVENTS OCCURRED AFTER SEPTEMBER 30TH, 2021

On October 27th, 2021, the Shareholders' Meeting of Digital Bros Group approved the Financial Statements for the fiscal year 2020-2021, a dividend distribution of €0.18 per share and appointed Ernest & Young S.p.A. as the new external auditor for the

2022-2030 period, until the approval of the Financial Statements at June 30th, 2030.

BUSINESS OUTLOOK

The significant investment plan implemented will persist over the coming years: the Group has in excess of €69 million outstanding investments on 23 intellectual properties already committed. In addition, further investments are represented significantly by internal development productions with the most recent additions being the Australian developer Infinity Plus Two, Chrysalide Jeux et Divertissement (Canada) and Supernova Games Studios (Italy). During the quarter, the Group further increased the number of internal studios by acquiring the 60% of the Czech development studio Ingame Studio a.s., currently working on a highly anticipated videogame which is planned for launch in the fourth quarter.

In the full fiscal year 2022, the Group expects to match the record hitting revenues levels realized in the previous fiscal year, even if most of the investments planned will hit the market starting from the following fiscal year onwards. The current fiscal revenues are back-ended in sync with the Premium Games product releases, as well as the worldwide launch of the Free to Play video games Puzzle Quest 3 and Portal Knights, all are expected in the second half of the year.

A breakdown of back catalogue and new releases revenues expected for the full fiscal year is provided below with previous years comparisons:

Back catalogue and New releases revenues

Operating margins are expected to remain in line with the outstanding results achieved in the last fiscal year, >30MEUR EBIT, and in sync with the revenues trend.

As a result of the significant investments planned in the period, the net financial position, which was above €38 million positive

at the end of the previous year, is expected to decrease during the first three quarters. Cash flow creation will return in the last quarter following the launch of the publisher's most anticipated videogame.

ART. 154-BIS OF THE T.U.F.

As required by paragraph 2, Art. 154-bis of the T.U.F., Digital Bros Group's Chief Financial Officer, Stefano Salbe, declares that the information contained in this press release corresponds to the Group's underlying documents, books and accounting records.

This press release is available on the websites www.digitalbros.comand www.1info.it

DIGITAL BROS GROUP

Listed on the Euronext STAR segment of Borsa Italiana, Digital Bros Group is a global company that has been operating since 1989 as a developer, publisher and distributor of videogames through its brand 505 Games. The Group distributes its contents on both retail and digital channels. Digital Bros Group is active around the world through its own direct operations in Italy, United States, UK, France, Spain, Germany, Czech Republic, China, Japan, Australia and Canada with approximately 325 employees.

For further information:

Digital Bros S.p.A.

Stefano Salbe

CFO

Tel. + 39 02 413031 ir@digitalbros.com

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