Atari

Addition of New Major Shareholder

Atari: Addition of New Major Shareholder

• Wade J. Rosen acquires 10.46% (9.59% on a diluted basis) of the Atari Group from Ker Ventures
• Wade will become Chairman of the Board of the Atari Group, Frédéric Chesnais remains as CEO of the Atari Group
• Atari stays focused on its online and mobile businesses, Atari VCS progress remains as previously indicated and dependent on the evolution of the current pandemic

Paris, March 24, 2020 – Ker Ventures, LLC (“KV”) and Wade J. Rosen (“Rosen”) announce today that Rosen has entered into an agreement to acquire Atari shares from KV, representing 10.46% (9.59% on a diluted basis) of the share capital of Atari, SA (ISIN FR0010478248). The details of the transaction are set forth below, and there is no other agreement between Rosen, KV and Frédéric Chesnais, other than as set forth below.

“Atari has a great team in place. From a difficult financial situation six years ago, we have repaid Atari’s debt in full and relaunched the business with a clear strategy for its iconic brand. Today, our online and mobile businesses are a strength, operating remotely with huge clients such as Apple, Google, Microsoft, Facebook, Sony, Nintendo, EPIC and Steam, and we are also actively working on the upcoming private pre-sales of the Atari Token crypto-currency”, said Frédéric Chesnais. “Atari will always benefit from having strong and long-term shareholders, especially in the current circumstances, and this is why I am really glad to welcome Wade J. Rosen to this Atari journey”.

Rosen has already acquired from KV an initial block of 22,520,000 Atari shares at a price of Euro 0,3737 per share (i.e. US$ 0.40 at the current exchange rate), and will acquire a second block of 5,480,000 Atari shares no later than March 27, 2020, at the same price per share. The transaction will close with the transfer of the second block. KV has also granted Rosen an option on a block of ten million (10,000,000) Atari shares, to be exercised between July 21, 2020 and August 31, 2020 (extended in the event of a restricted period), at the then prevailing weighted-average stock price of the Atari shares, with a minimum of Euro 0,20 per share and a maximum of Euro 0,50 per share.