PRESS RELEASE: NACON: Extension of the observation period for the judicial reorganisation proceedings

27 May 2026 18:07 CEST

                                                        Press Release

Lesquin, May 27, 2026, at 18:00

Extension of the observation period for

the judicial reorganisation proceedings

Lesquin, May 27, 2026, Nacon (the "Company") announces the continuation of its observation period as part of its judicial reorganisation proceedings(“redressement judiciaire”).

As a reminder, the Company was placed under judicial reorganisation proceedings by the Commercial Court of Lille Métropole (the “Court”) by order on 2 March 2026.

By judgment of April 29, 2026, the Court has decided to extend the observation period for the Company until September 2, 2026.

The Company is continuing its work on developing a recovery plan, including a restructuring of its liabilities, intended to be submitted to the vote of its creditors grouped into classes of affected parties, and then to the Court.

The Court has also decided, by judgments dated April 29, 2026, to extend the observation periods for two subsidiaries of the Company, the video game development studios Cyanide and Kylotonn, placed under judicial reorganisation proceedings since March 30, 2026, until September 30, 2026.

Furthermore, the Company announces that another of its subsidiaries, the video game development studio Midgar Studio, filed a declaration of insolvency (“déclaration de cessation des paiements”) on May 26, 2026, and requested that the Court open judicial reorganisation proceedings for its benefit.

The Company will keep the market informed as its situation evolves and regarding the progress of the proceedings.

About judicial reorganisation proceedings

Judicial reorganisation proceedings are collective proceedings under French law pursuant to which liabilities arising prior to the opening judgment are frozen for the duration of the observation period, which may last up to 18 months. During this period, the debtor may propose a continuation plan providing for the restructuring of its debt with a view to ensuring the recovery of its business.

Attachment

• Nacon - CP 27 05 2026 Diffusion English