PLAYSTUDIOS, Inc.

This Annual Report on Form 10-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). These forward-looking statements are based on our current expectations, estimates, forecasts, and projections about future events and operating performance and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements.

All statements contained in this Annual Report on Form 10-K, other than statements of historical fact, including statements regarding our strategy, business model, competitive position, future operations, future financial performance, liquidity, profitability, cost structure, market opportunities, regulatory environment, and management’s plans and objectives, are forward-looking statements. In some cases, forward-looking statements can be identified by terminology such as “may,” “should,” “could,” “would,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “continue,” “goal,” “project,” or similar expressions, or the negative of such terms.

Forward-looking statements in this Annual Report on Form 10-K include, but are not limited to, statements regarding:

•our business strategy, operating priorities, and competitive positioning;

•our expectations regarding future financial performance, including revenue trends, margins, operating expenses, profitability, and cash flows;

•market acceptance, engagement, and monetization of our games and loyalty offerings;

•the evolution of player behavior, competitive dynamics, and industry trends, including the impact of sweepstakes-based promotional mechanics;

•our reliance on, and relationships with, third-party platforms, payment providers, and other key partners;

•the regulatory environment applicable to our business, including potential changes in laws, regulations, or enforcement practices affecting social casino games and sweepstakes-based offerings;

•our ability to attract, retain, and monetize players effectively;

•our ability to manage costs, invest efficiently, and execute restructuring or cost-containment initiatives;

•our ability to maintain the security, availability, and integrity of our technology systems and data;

•general macroeconomic conditions and their impact on discretionary consumer spending, advertising demand, and partner activity; and

•our ability to identify, pursue, and integrate strategic transactions consistent with our business objectives.

These forward-looking statements are subject to known and unknown risks, uncertainties, and assumptions, including those described under the heading “Item 1A. Risk Factors” in this Annual Report on Form 10-K and in our other filings with the Securities and Exchange Commission (the “SEC”), that may cause our actual results, performance, or achievements to differ materially from those expressed or implied by the forward-looking statements. The risks described in this Annual Report on Form 10-K are not exhaustive. New risks may emerge from time to time, and it is not possible to predict all risks or assess the impact of all risks on our business.

Forward-looking statements are not guarantees of future performance, and you should not place undue reliance on them. These statements speak only as of the date of this Annual Report on Form 10-K. Except as required by applicable law, we undertake no obligation to publicly update or revise any forward-looking statements to reflect subsequent events, circumstances, or changes in expectations.

We intend to use our Investor Relations website (ir.playstudios.com), SEC filings, press releases, public conference calls, and webcasts as means of disclosing material non-public information and for complying with our disclosure obligations under

Regulation FD. Information posted on or accessible through our website or social media channels is not incorporated by reference into this Annual Report on Form 10-K, and you should not consider such information to be part of this Annual Report.

Summary of Principal Risk Factors

The following summary highlights certain risks and uncertainties that could materially adversely affect our business, financial condition, and results of operations. This summary does not contain all of the information that may be important to you and should be read together with the more detailed discussion of risks included under “Item 1A. Risk Factors” in this Annual Report on Form 10-K.

•We may be unable to attract, retain, and effectively monetize players, manage portfolio dynamics, or sustain engagement across our games, including newly launched titles and updated offerings.

•A relatively small portion of our players generates a substantial portion of our revenue, and changes in the behavior, engagement, or spending patterns of these players could materially impact our results.

•Our traditional social casino business has experienced revenue pressure, and increased competition from alternative gaming models, including sweepstakes-based offerings and other evolving monetization formats, could continue to adversely affect our performance.

•Our use of sweepstakes-based promotional mechanics exposes us to evolving and uncertain regulatory, legislative, enforcement, and platform-related risks.

•We operate in a highly competitive industry characterized by rapid changes in player preferences, technology, and business models.

•We rely heavily on third-party platforms, payment processors, banking partners, and other service providers to distribute our games, process payments, and support key compliance functions, and adverse changes to their policies, underwriting standards, or practices could materially harm our business.

•Our business is subject to extensive, evolving, and in certain areas unsettled laws and regulations in the United States and internationally, including those relating to gambling, sweepstakes, consumer protection, data privacy, and in-game monetization, and our failure to comply or adapt could result in significant costs, penalties, or operational restrictions.

•General economic conditions may negatively affect discretionary consumer spending, advertising demand, and partner activity.

•Political, economic, and military instability in Israel and the surrounding region, including potential regional escalation and military reserve mobilization, could disrupt our operations and adversely affect our results.

•Our games, technology infrastructure, and third-party systems may experience outages, defects, or disruptions that could harm player experience, monetization, and our reputation.

•Cybersecurity incidents, data breaches, cross-border data transfer restrictions, or failures to protect personal information could expose us to liability, regulatory scrutiny, operational disruption, and reputational harm.

•We may be unable to manage costs effectively or sustain profitability, and our margins may continue to decline.

•Legal proceedings, regulatory actions, investigations, or enforcement activity relating to gambling laws, sweepstakes mechanics, consumer protection, or data privacy could adversely affect our business, financial condition, and results of operations.

•The dual-class structure of our common stock concentrates voting control with our Chairman and Chief Executive Officer, which limits other stockholders’ ability to influence corporate matters.

•We do not currently pay cash dividends, and we do not anticipate paying cash dividends in the foreseeable future. Accordingly, stockholders must rely solely on changes in the market price of our common stock for any return on their investment, and such market price may decline or fail to increase.

•Certain provisions of our organizational documents and Delaware law may discourage or delay a change of control.