24 April 2018

Keywords Studios plc ("Keywords", "the Group")

Issue of Shares

Keywords Studios, the international technical services provider to the global video games industry, announces that 1,239,825 new ordinary shares have today been issued to the vendors of Synthesis, comprising (i) 1,188,263 shares in respect of the second tranche of non-contingent deferred share consideration due on the second anniversary of Synthesis being acquired, and (ii) 51,562 shares in respect of €1m of contingent consideration that is payable following revenue targets being achieved, which the vendors have elected to receive in new Keywords shares rather than cash. Since acquisition the shares to be issued relating to Synthesis have been fully represented in the reported earnings per share numbers through the basic and diluted weighted average denominators used. The shares will be subject to orderly marketing restrictions for a period of 12 months following issue. There are no further payments due to the vendors of Synthesis, which was acquired in April 2016.

Application has been made to the London Stock Exchange for the admission of 1,239,825 new ordinary shares to trading on AIM. Admission of the new shares is expected to take place at 8:00am on 26 April 2018. The Company's total issued share capital following admission will consist of 62,985,277 ordinary shares of one pence each with one voting right per share. The above figure of 62,985,277 may be used by shareholders as the denominator for the calculations by which they can determine if they are required to notify their interest in, or a change to their interest in, the Company following admission.

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Certain information contained in this announcement would have constituted inside information (as defined by Article 7 of Regulation (EU) No 596/2014) prior to its release as part of this announcement.

About Keywords Studios (www.keywordsstudios.com)

Keywords Studios is an international technical services provider to the global video games industry. Established in 1998, and now with over 40 facilities in 20 countries strategically located in Asia, the Americas and Europe, it provides integrated art creation, software engineering, testing, localisation, audio and customer care services across more than 50 languages and 16 games platforms to a blue-chip client base of approximately 650 clients across the globe.  It has a strong market position, providing services to 23 of the top 25 most prominent games companies, including Activision Blizzard, Bandai Namco, Bethesda, Electronic Arts, Konami, Riot Games, Sony, Square Enix, Supercell, TakeTwo, and Ubisoft. Recent titles worked on include Uncharted 4: A Thief's End, Call of Duty: WWII, Mortal Combat X, Assassin's Creed Origins, Battlefield 1, League of Legends, Fortnite, Clash Royale, and Mobile Strike. Keywords Studios is listed on AIM, the London Stock Exchange regulated market (KWS.L).