Interim report for the period 1 January - 30 June 2026

Fragbite Group AB (publ) (“Fragbite Group” or “The Company”) hereby issues the interim report for the period 1 January to 30 June 2026.

Second quarter 2026

First six months 2026

(1) In 2025, three subsidiaries, which together accounted for the majority of the Group’s revenue, were divested. See pages 5 and 14 for Pro forma 2025.
(2) EBIT includes an impairment loss of SEK 1.1 million relating to an uncertain receivable arising from unpaid amortisation on loans issued to the buyers of former subsidiaries Lucky Kat B.V. och WAGMI Ltd.
(3) Per total number of shares at the end of the quarter.
(4) Share of recurring revenue relative to revenue for the period.

CEO Michael Lundgren comments

Fragbite Group is halfway through 2026, a year in which, in many regards, we are relaunching our business and step by step building solid operations following major changes in 2025. The work continues ahead and long-term profitability is still our guiding principle.

Revenue and EBITDA
Revenue for the quarter amounted to SEK 5,2 million. On a pro forma basis, business operations are on a par with the same period in 2025 (SEK 5,5 million). The quarter closed with a negative EBITDA of SEK -1.6 million (SEK -0.5 million pro forma for 2025), which is an improvement on the first quarter of 2026 but, of course, not where we want to be.

MMA Manager 2 is marching forward
As reported in the previous quarter, MMA Manager 2 has shown good profitability for some time, prompting FunRock to further develop the game ahead of a re-release with updated gameplay features which started during the end of the second quarter. The rerelease has thus far targeted chiefly the US market and during May a series of user acquisition (UA) campaigns kicked off. In the short term, this has led to increased costs, which has had a negative impact on EBITDA, however the results so far are cautiously positive with the aim to increase earnings from the game going forward.

KovaPlay – continued focus on sales
During the period, development was carried out on the project signed in February, and the finished game was shipped in July. With the game due for launch in the client’s iGaming environment shortly, profit share follows for as long as the game remains live, which is expected to contribute to the revenue of business area Gaming from the fourth quarter onwards. Profit share has generated steady income since the end of 2025, prompting us to prioritize it in negotiations for new projects.

Unfortunately, KovaPlay has remained adversely affected by delays during this period, which further underlines the importance of prioritising sales with the aim of both expanding and reducing vulnerability to individual projects. Both parent company and subsidiary are placing considerable focus on this. For some time, KovaPlay has been in negotiations with a global iGaming operator which, at the start of the year, were expected to be finalised shortly. At a late stage however, the counterparty – owner of multiple brands for different iGaming platforms – needed to change brands for the project, resulting in negotiations having to largely start over. Overall, delays within KovaPlay have, in various ways, led to the business not yet realising its potential. We are therefore continuing our efforts to reduce vulnerability and broaden the client portfolio. The feedback prospective clients are giving on the games and game engines is very positive and indicates that the offering meets a need in the market.

First release based on the new game engine
As part of FunRock’s in-house development, work on the previously mentioned new game engine is proceeding as planned. The game engine is of the roguelite genre, and FunRock’s objective is for the engine to be utilised for several different games over the coming years. First up in the pipeline is a free-to-play mobile game, with a planned release in late 2026.

Successful premiere for Mästarcupen
Revenue for the period has increased approximately 50 percent compared to 2025; however, the business area is still coming in below budget, which has a negative impact on EBITDA for business operations. The full year still looks solid, given sales ahead of the end of the year and the signing of several key contracts during the second quarter, notably for Svenska Cupen.

Focusing on diversifying the business has been emphasised previously, and an important step in that direction was taken with Mästarcupen – a new IP featuring competition in EA FC26 (formerly FIFA). The first tournament concept not held in Counter-Strike opens up new target groups both in terms of players and sponsors. Mästarcupen was carried out successfully and with profitably during the end of the second quarter, with plans for a second edition on the drawing table.

Focus on cash flow under Bitcoin Treasury
Options trading under Bitcoin Treasury commenced on 1 April and generated a cash flow of approximately SEK 0.9 million during the quarter. Proceeds from options trading are recognised under ‘Net financial items’, which is why they do not impact the quarter’s EBITDA but have a positive effect on cash flow. See page 15 for further information on how this is recorded and reported. The Company does not yet have sufficient data to assess future proceeds; these cash flows are expected to fluctuate, but the start is very promising.

To sum up, Fragbite Group is staying on course. In line with communicated strategy, we continue to evaluate potential profitable holdings and investments whilst further developing our core business operations. The company’s objective that the business remaining after the divestments in 2025 should be profitable and support the parent company by the end of 2026 remains unchanged.

Stockholm 26 August 2026

Michael Lundgren, President & CEO

The report is attached to this press release and available for download from the Fragbite Group website: www.fragbitegroup.com/financial-reports

For questions, please contact:

Erika Mattsson, Chief Communications Officer
ir@fragbitegroup.com
Phone: +46 8 520 277 82

Redeye Nordic Growth AB is the Company’s Certified Adviser.

About us

Fragbite Group AB (publ) is a Swedish corporate group based in Stockholm that creates long-term shareholder value through combining well-established business operations in Gaming and Esports with an ambitious, long-term Bitcoin Treasury strategy. Fragbite Group's oldest subsidiary was founded in 2002, while the group was formed in 2021 when the share was also listed on Nasdaq First North Growth Market under the ticker $FRAG.

This information is information that Fragbite Group AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2026-08-26 09:05 CEST.