Next Games: Conclusion of Consultation Proceedings According to the Company’s Cost Review Program

Next Games Corporation Company Release February 15, 2019 at 08:00 a.m. (EET)

Next Games has concluded the consultation proceedings concerning the company’s staff as announced on 10 January 2019 as part of the company’s program to to review the cost structure of the company’s operations and streamline its operational model.

As a result of the consultation proceedings, which commenced on 17 January 2019, the company is now implementing a new organizational structure with the aim of decreasing time-to market for its upcoming products, increasing performance as well as improving its product development process. As a result of the measures taken as part of the program, the company scales down the number of staff from 143 at the end of year 2018, to 117 employees during the first half of 2019. While some positions will cease to exist in the organization as part of the change, the company is also looking to hire key talent for certain specific positions during the first half of 2019.

The company continues to execute the cost review program, which is expected to generate significant cost savings during the full year 2019 compared to 2018. Through the continued implementation of the program during 2019, the company estimates annual cost savings in the range of 4-8 million euros during the full year 2019.

Next Games CEO Teemu Huuhtanen: "By ending the consultation proceedings with our personnel, we are moving to the implementation phase of our new operational model. The company is extremely grateful to have a very committed and highly-skilled staff. We will together continue our transformation into an even more agile and resilient team and execute on our mission to create long-lasting mobile entertainment."

Additional information:
Saara Bergström
CMO
investors@nextgames.com
+358 (0)50 483 3896

Certified Adviser: Danske Bank A/S, Finland branch, tel. +358 10 546 7938

About Next Games

Next Games (Helsinki Nasdaq First North: NXTGMS) is the first publicly listed mobile game developer and publisher in Finland, specializing in games based on entertainment franchises, such as movies, TV series or books. The developers of the critically acclaimed The Walking Dead games redefines the way franchise entertainment transforms into highly engaging service-based mobile games. In summer 2018, Next Games launched The Walking Dead: Our World, which utilizes cutting edge AR technology and is powered by Google Maps. Currently Next Games is working on multiple new games based on popular entertainment franchises including, Blade Runner Nexus, for the popular Blade Runner franchise. For more information head to www.nextgames.com