February 21, 2025 – Limassol, Cyprus – GDEV Inc. (Nasdaq: GDEV), an international

gaming and entertainment company (“GDEV” or the “Company”), today announced that its

Board of Directors has authorized and approved a one-time, nonrecurring special cash

dividend of $3.31 per share, representing a yield of approximately 20% based on the

volume-weighted average price of the Company’s shares for the last 30 trading days prior to

today’s announcement. The special dividend is payable on March 11, 2025, to the

Company’s shareholders of record as of the close of business on March 3, 2025

This one-time special dividend, totaling approximately $60 million, will be funded from

GDEV’s accumulated profits over the past few years and represents a portion of the

Company’s total cash balance of approximately $153 million¹ (as of Q3 2024). The Company

expects to release its audited results for the 2024 financial year around the end of the first

quarter of 2025

By distributing a portion of its retained earnings, GDEV better optimizes its capital structure,

reducing excess liquidity and providing for a more lean and efficient operating model. This

decision reflects the Company’s commitment to disciplined capital allocation and long-term

value creation. The Board’s confidence in GDEV’s financial strength underscores its

proactive approach to maintaining an optimal balance between stability and growth in the

volatile environment. Importantly, this special dividend is a one-time distribution and does

not establish a recurring dividend program. It is not anticipated that the GDEV’s Board of

Directors will declare any further dividends in the foreseeable future.

GDEV Founder, CEO, and Chairman of the Board of Directors, Andrey Fadeev, stated: “The

special dividend is the first in the Company’s history since our public listing. The decision to

declare a special dividend underscores our commitment to delivering value to our

shareholders while maintaining a strong financial position. Our robust balance sheet enables

us to return capital to shareholders without compromising our ability to invest in the

Company’s long-term growth. Following this distribution, GDEV will remain debt-free with a

substantial cash balance providing financial stability and the continued development of both

our existing portfolio and future initiatives.”

About GDEV Inc.

GDEV is a gaming and entertainment holding company, focused on development and

growth of its franchise portfolio across various genres and platforms. With a diverse range of

subsidiaries including Nexters and Cubic Games, among others, GDEV strives to create

games that will inspire and engage millions of players for years to come. Its franchises, such

as Hero Wars, Island Hoppers, Pixel Gun 3D and others have accumulated over 550 million

installs and $2.5 billion of bookings worldwide. For more information, please visit

www.gdev.inc.

Contacts:

Investor Relations

Roman Safiyulin | Chief Corporate Development Officer

investor@gdev.inc

¹ Including the investments into high quality liquid securities.

Cautionary statement regarding forward-looking statements

Certain statements in this press release may constitute “forward-looking statements” for

purposes of the federal securities laws. Such statements are based on current expectations

that are subject to risks and uncertainties. In addition, any statements that refer to

projections, forecasts or other characterizations of future events or circumstances, including

any underlying assumptions, are forward-looking statements.

The forward-looking statements contained in this press release are based on the Company’s

current expectations and beliefs concerning future developments and their potential effects

on the Company. There can be no assurance that future developments affecting the

Company will be those that the Company has anticipated. Forward-looking statements

involve a number of risks, uncertainties (some of which are beyond the Company’s control)

or other assumptions. You should carefully consider the risks and uncertainties described in

the “Risk Factors” section of the Company’s 2023 Annual Report on Form 20-F, filed by the

Company on April 29, 2024, and other documents filed by the Company from time to time

with the SEC. Should one or more of these risks or uncertainties materialize, or should any

of the Company’s assumptions prove incorrect, actual results may vary in material respects

from those projected in these forward-looking statements. Forward-looking statements speak

only as of the date they are made. Readers are cautioned not to put undue reliance on

forward-looking statements, and the Company undertakes no obligation to update or revise

any forward-looking statements, whether as a result of new information, future events or

otherwise, except as may be required under applicable securities laws.