Entering into strategic discussions on Project Gemini and works on thereview of the development plans for projects developed by the GroupArticle17 Section 1 of the MARThe Management Board of PCF Group S.A.based in Warsaw (the "Company") informs about entering into strategicdiscussions with the Company's group (the "Group") long-time publisher,Square Enix Limited (the "Publisher"), regarding the scope of ProjectGemini and the terms of cooperation on Project Gemini, rendered by theGroup in Europe, in the work-for-hire model for the Publisher.

As at the date of this ad hoc report, the Group continues to work onProject Gemini for the Publisher under the terms specified in theagreement concluded by the parties. However, based on the ongoingdiscussions, the Management Board considers it highly probable that thedevelopment of Project Gemini will not be continued by the Group on thecurrent commercial terms. The current stage of discussions with thePublisher does not yet allow the Company to determine the direction andscope of potential changes regarding the principles of cooperationbetween the parties.

At the same time, the Management Board informs that it is working on theanalysis of the impact of the among others discussed scenarios on thedevelopment plans of projects developed by the Group based on the updateof the Group's strategy released to the public in the ad hoc report No.3/2023 of January 31, 2023.

Information on the outcome of discussions relating to Project Gemini, aswell as potential revisions to the development plans for projectsdeveloped by the Group, will be made public by the Company in separatead hoc reports.