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ELECTRONIC ARTS INC.

(EA)
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Electronic Arts : EA Confirms Future Tenancy at 1077 Great Northern Way, Vancouver

07/30/2021 | 12:01pm EDT

EA signs tenant agreement to LEED Platinum building in South Flatz area of False Creek Flats

VANCOUVER, BC, July 30, 2021 /CNW/ - Electronic Arts (Canada), Inc. is pleased to confirm today that the company has reached an agreement with Low Tide Properties and PCI Developments, to occupy 1077 Great Northern Way in the new False Creek Flats area.

The award-winning building, which was completed in 2015, is one of a handful in the province that has achieved LEED Platinum certification (2017), making it one of the greenest, most sustainable and energy efficient buildings in B.C. Those attributes, and the multiple amenities offered in the immediate area, align well with EA's commitments to the Environment as well as People & Culture.

"We're excited to have this great new footprint, with amazing amenities for our team, to add to our flagship Burnaby studio as we continue to invest in our teams and leadership in the market," said Jon Lutz, Vice President of Strategy, Operations and Finance. "The support to health and wellness that are present at the new location not only helps EA attract and retain great talent, but it provides staff with an environment in which they can do their best work."

EA is looking forward to joining a range of other creative technology brands, educational facilities and associations in the False Creek Flats area, and continuing to advance British Columbia's position as leader in innovation, a move actively supported by the provincial government.

"The importance of B.C.'s tech sector and its ability to stimulate innovation and investment can't be understated," said Brenda Bailey, Parliamentary Secretary for Technology and Innovation and MLA for Vancouver-False Creek. "I want to congratulate EA on its decision to expand its operations in Metro Vancouver."

While the Canadian corporate headquarters in B.C. will remain in Burnaby, the move marks an expansion of EA's footprint within Metro Vancouver. "Our future move into 1077 Great Northern Way is very much in keeping with EA's multiple green goals, including a global commitment to reduce energy and water consumption," said Jon Lutz.

No formal date has been identified for EA teams to take up tenancy at 1077 Great Northern Way, but a phased move-in process is anticipated to begin in Spring, 2022.

About Electronic Arts
Electronic Arts (Canada), Inc. is a subsidiary of Electronic Arts Inc. (NASDAQ: EA). EA is a global leader in digital interactive entertainment. The Company develops and delivers games, content and online services for Internet-connected consoles, mobile devices and personal computers.

In fiscal year 2021, EA posted GAAP net revenue of $5.6 billion. Headquartered in Redwood City, California, EA is recognized for a portfolio of critically acclaimed, high-quality brands such as EA SPORTS™ FIFA, Battlefield™, Apex Legends™, The Sims™, Madden NFL, Need for Speed™, Titanfall™ and F1™. More information about EA is available at www.ea.com/news.

EA SPORTS, Ultimate Team, Battlefield, Need for Speed, Apex Legends, The Sims and Titanfall are trademarks of Electronic Arts Inc. John Madden, NFL, FIFA and F1 are the property of their respective owners and used with permission.

SOURCE Electronic Arts Canada, Inc.

© Canada Newswire, source Canada Newswire English

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Analyst Recommendations on ELECTRONIC ARTS INC.
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Financials (USD)
Sales 2022 7 525 M - -
Net income 2022 622 M - -
Net cash 2022 2 174 M - -
P/E ratio 2022 66,8x
Yield 2022 0,46%
Capitalization 38 999 M 38 999 M -
EV / Sales 2022 4,89x
EV / Sales 2023 4,47x
Nbr of Employees 11 000
Free-Float 99,5%
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Mean consensus BUY
Number of Analysts 31
Last Close Price 137,04 $
Average target price 169,57 $
Spread / Average Target 23,7%
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Managers and Directors
Andrew P. Wilson Chairman & Chief Executive Officer
Blake J. Jorgensen Chief Operating & Financial Officer
Kenneth Moss Chief Technology Officer
Leonard S. Coleman Independent Director
Richard A. Simonson Independent Director
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