PRESS RELEASE

NACON: ISSUANCE OF NEW SHARES IN CONNECTION WITH THE ACQUISITION OF BIG ANT STUDIOS

                                                Press release

Lesquin, 18 September 2023 18:00hrs

ISSUANCE OF NEW SHARES IN CONNECTION WITH THE ACQUISITION OF BIG ANT STUDIOS

On January 21, 2021, the Company announced the acquisition of Big Ant Studios, a leading Australian video game studio in major sports such as rugby, tennis and cricket. As specified in the terms of the transaction, the acquisition agreement provided for the payment of earnouts based on performance criteria to the selling partners.

Given the strong performance of Big Ant Studios, some of the performance criteria previously established have been met. The selling partners of Big Ant Studios have decided to reinvest half of their earn-outs in the capital of the Company.

Thus, the Board of Directors of the Company has decided today, using the delegation of authority granted to it by the General Meeting of the Company on July 21, 2023 under the terms of its 15^th resolution and in accordance with the provisions of article L. 411-2 1° of the French Monetary and Financial Code, an issue without preferential subscription rights of 696,956 new ordinary shares of the Company, representing 0.80% of the existing share capital of the Company, at a price per share of 1.539 euros including the issue premium (the "Transaction"). The subscription price for the Transaction does not involve any discount to the average closing price of Nacon shares over the 20 trading days preceding its determination.

Following the Transaction, the share capital of the Company will amount to € 87,808,412 divided into 87,808,412 ordinary shares of one (1) euro nominal value each.

The settlement-delivery of the new ordinary shares issued in the context of the Transaction and their admission to trading on the regulated market of Euronext in Paris are scheduled for October 18, 2023.

The impact of the Transaction on the distribution of the Company's share capital is as follows:

Shareholders	Before implementation of the Transaction		After implementation of the Transaction
	Shares	% of capital	Shares	% of capital
Bigben Interactive	52 917 211	60,75 %	52 917 211	60,26%
Bpifrance Investissement	1 818 181	2,09 %	1 818 181	2,07 %
CDC Croissance + CNP Assurances	2 504 272	2,87 %	2 504 272	2,85 %
Public	29 871 792	34,29%	30 568 748	34,82%
Total	87 111 456 *	100,00 %	87 808 412	100,00 %

* including 175,157 new shares, following the capital increase approved by the Board of Directors on 18/09/2023 (definitive acquisition of free shares).