17.2.2021 07:00:00 CET | Play Magnus AS | Half yearly financial reports and
audit reports / limited reviews

Play Magnus Group, a global leader in the chess industry, today published its
financial results for the fourth quarter 2020. On a pro-forma basis, bookings
grew by 196 percent year over year to USD 3.73 million and revenue grew by 154
percent to USD 2.95 million compared to Q4 2019. This was driven by 89 percent
growth in the number of monthly paying users and 30 percent growth in revenue
per paying user, as well as a strong performance related to Meltwater Champions
Chess Tour.

"We are happy to report a quarter with accelerated growth number of users,
bookings and revenues. It is a strong confirmation of our long-term growth
story," said CEO of Play Magnus Group, Andreas Thome.

The 2021 guidance for bookings is raised to USD 19-21 million from USD 14-16
million. The increase in guidance is driven by e-learning and Tour segments, as
well as USD 3-3.5 million from M&A. The company maintains its ambition of annual
bookings of more than USD 60 million in 2025.

"The interest in chess is extremely high while the commercial opportunities
remain untapped. Our ambition is to drive innovation in chess, and we are
focused on scaling new and existing products through continuous investments. We
believe the success of the Meltwater Champions Chess Tour will help grow our
ecosystem," said Andreas Thome.

In Q4 2020 Play Magnus Group had on average 44,300 paying users, up from 23,400
one year earlier. Average revenue per paying user was USD 18.4, up from USD 14.1
one year earlier.

In Q4 2020 Play Magnus Group had a negative Adjusted EBITDA of USD 2.4 million,
as the company invested significantly into growth initiatives and incurred
additional costs related to the listing on Euronext Growth and M&A activities. 

"With our strong financial base, we have successfully recruited new talent
within product and tech development, and we expect to continue to increase
hiring. At the same time, we will continue to look for and execute on the right
M&A opportunities," said Andreas Thome. 

Financial highlights in Q4 2020

 *  Q4 Bookings USD 3.73 million (+196% Y/Y)
 *  FY 2020 Bookings USD 9.26 million (+158% Y/Y)
 *  Q4 Revenue USD 2.95 million (+154% Y/Y)
 *  Full year 2020 revenue USD 7.90 million (+110% YoY)
 *  Q4 Average Monthly Paying Users 44,300 (+89% Y/Y)
 *  Q4 Average Revenue per Paying User (ARPPU) USD 18.4 (+30% Y/Y)
 *  FY 2021 guidance of Bookings USD 19-21 million (previously USD 14-16
   million)
 *  Q4 Adjusted EBITDA USD -2.4 million

Pro forma numbers include chess24 and Chessable financials for the full year
2019. chess24 was acquired in February 2019 and Chessable in August 2019. 

Please find enclosed Play Magnus Group's Q4 2020 presentation.

A presentation and a Q&A session will be hosted by CEO Andreas Thome and CFO
Dmitri Shneider today, 17 February 2021 at 08:00 CET. 

The webcast is available at https://playmagnusgroup.com/investor or 
https://bit.ly/3rYYLT1.

Viewers are encouraged to send in questions in writing during and after the
presentation through the form in the webcast window. A recording of the webcast
will be available at the same link shortly after the end of the presentation.

DISCLAIMER

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

CONTACTS

 * Andreas Thome, CEO, Play Magnus Group, andreas@playmagnus.com 
 * Dmitri Shneider, CFO, Play Magnus Group, dmitri@playmagnus.com 

ABOUT PLAY MAGNUS AS

Play Magnus Group is a global leader in the chess industry focused on providing
premier digital experiences for millions of chess players and students. The
company offers e-learning and entertainment services via its market leading
brands: chess24, Chessable, CoChess, the Play Magnus App Suite, and the
Champions Chess Tour. The Group's mission is to grow chess to make the world a
smarter place by encouraging more people to play, watch, study, and earn a
living from chess.

ATTACHMENTS

 * Download announcement as PDF.pdf
   [https://kommunikasjon.ntb.no/ir-files/16823864/329/404/Download%20announceme
   nt%20as%20PDF.pdf]
 * Play Magnus Group Q4 2020 Presentation.pdf
   [https://kommunikasjon.ntb.no/ir-files/16823864/329/403/Play%20Magnus%20Group
   %20Q4%202020%20Presentation.pdf]