Remedy Entertainment Plc | Press release 3:30 pm (EEST) 18 May 2021

Tencent Holdings acquires 3.8% of shares in Remedy Entertainment from Accendo Capital – Accendo owns 14.0% after the transaction

Remedy Entertainment has been informed that today 18 May 2021, Accendo Capital SICAV RAIF has sold 500,000 Remedy shares, corresponding to 3.8% of outstanding shares and votes, to Tencent Holdings Ltd. Accendo Capital holds approximately 1.8 million shares after the transaction, corresponding to 14.0% of outstanding shares and votes.

Tero Virtala, CEO of Remedy Entertainment said, "This is a capital markets transaction between Accendo Capital and Tencent, and is not connected with the commercial activities at Remedy. We are naturally aware that Tencent has extensive expertise in the industry, so we are honored by their interest in Remedy and happy to welcome Tencent as a new shareholder."

Bo Wang, Corporate Vice President of Tencent said, "Tencent has followed Remedy Entertainment's progress for a period of time and is impressed by what the talented Remedy team have accomplished. Tencent welcomes this opportunity to become a long-term shareholder of Remedy and we look forward to using our industry knowledge to support Remedy in the future.”

Henri Österlund, Founder of Accendo Capital said, "In all our investments we place a high value on having good co-owners and partners helping our portfolio companies to reach their full potential, and we wanted to offer Tencent the possibility to become a meaningful shareholder in Remedy.”

MORE INFORMATION

Tero Virtala, Chief Executive Officer
Phone: +358 9 435 5040
Email: tero.virtala@remedygames.com

Lauri Haavisto, Senior Manager, Investor & Talent Relations
Phone: +358 9 435 5040
Email: lauri@remedygames.com

REMEDY IN BRIEF

Remedy Entertainment Plc is a globally successful video game company known for story-driven and visually stunning console and computer games such as Control, Alan Wake and Max Payne. Remedy also develops its own Northlight game engine and game development tools.

Founded in 1995 and based in Finland, the company employs over 280 game industry professionals from 30 different countries. Remedy is listed on the Nasdaq First North Growth Market Finland marketplace. www.remedygames.com