DSPP - Direct Stock Purchase Plan

• All shares held with GameStop's transfer agent Computershare are considered "registered", which means that the individual investor is listed by name on the issuer's (GameStop's) stock register (also referred to as the "ledger") and the investor is therefore known to the company.
• The DSPP is a service provided by Computershare that allows for buying and selling of registered shares
• DSPP provides registered ownership, but unlike DRS, does not provide possession of shares

GameStop reports the total number of shares that are held by all registered holders in their 10-Q / 10-K filings.
For example, in the most recent 10K:

... approximately 66.2 million shares (15%) were held by registered holders with our transfer agent, Computershare Limited (“Computershare”)

Starting in Q2 of 2025, GameStop began provided some information regarding DSPP share counts.

Of the shares held by registered holders, approximately 3.3 million were held in our direct stock purchase plan ("DSPP") including 0.2 million shares held in nominee form by Computershare at DTC, with the remainder held directly in registered form with Computershare.

Within an account at Computershare, shareholders can hold their shares in one of two ways:

1. Directly, in DRS form, with the shares listed as type 'Book'
2. In Computershare's plan service, often referred to as direct stock purchase plan or DSPP, with the shares listed as type 'Plan Holdings'

When a GME investor requests to a stock broker to move the shares of GME that they paid for from the stock broker account into DRS form, the stock broker will initiate the transfer, and this will eventually place the shares into DRS form listed as 'Book' in the Computershare account.

When a GME investor purchases shares of GME directly through Computershare, this will place those purchased shares in Computershare's plan, and the shares will be shown under 'Plan Holdings' in the Computershare account.

A shareholder is easily able to move shares from plan holdings into DRS form within their Computershare account by terminating their DirectStock Plan, thus ensuring that they are the sole owner and direct holder of their shares.

• DRS
  • The investor is directly registered by name as the owner of the shares in the main class on GameStop's stock ledger (or register)
  • Though the shares are accessed and managed in an account with Computershare, the shares are formally "held" directly by the shareholder without any intermediary
  • Holding shares in DRS form provides both ownership and possession of shares
  • Holding shares in DRS form is the only way to have both ownership and possession of shares
• DSPP
  • Computershare provides a plan service, commonly referred to as DSPP / direct stock purchase plan
  • Shares in the plan are not held by the investor
    • Typically 80% to 90% of the shares are held by Dingo & Co (Computershare's nominee)
    • Typically 10% to 20% of the shares are held by Cede & Co for operational efficiency
  • The investor is registered by name as the beneficial owner of the shares in a subclass on the ledger
  • Holding shares in the plan provides beneficial ownership but not possession of the shares

Discuss technical details about DSPP in

The DRS Discord

Members of the DRSGME.org group travelled to Grapevine Texas in the years 2023, 2024, and 2025 to view the Stockholder List and collect data.

Compared with the raw number of shares that are explicitly held in DSPP form as reported by GameStop since Q2 2025, the DRSGME.org group distinguishes a difference between that raw number and a larger estimate. The larger estimate is based upon the technical understanding that any account with DSPP enabled exposes all shares in the account, including DRS shares, to Computershare's DSPP holdings.

This understanding is based upon information found in documents from Computershare UK, which state "if you choose to participate in the Plan all the Shares you hold in the Company falling under a single shareholder reference number will be included within the Plan."

"Although not the US, the UK disclosures provide insight that Computershare US refuses to admit nor deny."

This situation remains unconfirmed by Computershare US and therefore cannot be considered definitely true, but can be considered plausible.

With this understanding, the DRSGME.org group, in their 2025 Stockholder list viewing, estimate that the actual number of DSPP shares is closer to 13 million, based on all accounts that have DSPP enabled, even if those accounts hold all their shares in DRS form.