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6/2019 “Termination of a significant agreement”

By 30 May 2021No Comments

Current report no. 6/2019

May 15, 2019

Confidential information

“Termination of a significant agreement”

The Management Board of CI Games S.A. with its registered office in Warsaw (“Company”) hereby informs that today it has submitted a statement on the termination of the agreement concluded with Defiant Studios LLC (“Defiant”), about the conclusion of which the Company informed in the current report no. 18/2018 of June 4, 2018 (“Agreement”).

The statement on termination of the Agreement was submitted due to Defiant’s improper performance of the stage of work (Milestone 11), the so-called Vertical Slice, which is crucial in the light of the Agreement, in the quality expected by the Company, specified precisely in the Agreement – despite three times calling on Defiant to improve the quality of this stage of work.

By the date of submission of the said statement of termination of the Agreement, the Company has fully met all the payments for all the works accepted from Defiant, in accordance with the rules set forth in the Agreement.

The Company has data and project documentation, including the source code, for the game “Lords of the Fallen 2”. The Company intends to continue work on “Lords of the Fallen 2” through the Company’s internal studio with the support of external subcontractors (outsourcing).

Legal basis: art. 17(1) in conjunction with art. 7(1) of the Regulation of the European Parliament and of the Council (EU) No. 596/2014 of April 16, 2014,

concerning market abuse (MAR).

Marek Tymiński – President of the Management Board