Thyrak

So, in summary: - Sony’s $765 million in impairment losses for Bungie means they are downwardly adjusting the value of an asset that I think everyone but Sony realized was probably not worth $3.6 billion. This is not “lost money” in the sense some are thinking of - This wouldn’t be happening if Bungie games were doing great and printing loads of cash. Clearly they are not - Sony is at least publicly backing Marathon per its comments on the call, so the result of all this is not some imminent game/studio shutdown - Sony says it does not expect more big Bungie impairment losses in FY26 - All this is to say there are no guarantees this doesn’t produce something like layoffs and reduced overall investment in games like Marathon, Destiny and future projects. None of this is good news outside of claims of future Marathon plans to try to turn things around. Emphasis on try - I remain very concerned about Destiny