KOTICK ROBERT A - 13 Oct 2023 Form 4 Insider Report for Activision Blizzard, Inc.

Footnote F1

On October 13, 2023, Issuer completed the previously announced transaction with Microsoft Corporation, a Washington corporation ("Microsoft"), pursuant to the Agreement and Plan of Merger, dated as of January 18, 2022 (as amended, supplemented or otherwise modified from time to time, the "Merger Agreement"), by and among Issuer, Microsoft and Anchorage Merger Sub Inc., a Delaware corporation and a wholly owned subsidiary of Microsoft ("Merger Sub"), providing for the merger of Merger Sub with and into Issuer (the "Merger"), with Issuer surviving the Merger as a wholly owned subsidiary of Microsoft.

Footnote F2

Reflects the disposition pursuant to the Merger Agreement, as of the effective time of the Merger (the "Effective Time"), of shares of Issuer's common stock for $95.00 in cash per share.

Footnote F3

Reporting person and Brian G. Kelly are the managers of ASAC II LLC, and reporting person disclaims beneficial ownership of Issuer's common stock held by ASAC II LLC except to the extent of his pecuniary interest therein.

Footnote F4

Reflects shares of Issuer's common stock indirectly beneficially owned through Delmonte Investments, LLC, of which reporting person is a member and manager.

Footnote F5

Reflects the disposition pursuant to the Merger Agreement, as of the Effective Time, of options that were fully vested as of the Effective Time in accordance with their terms, each for an amount in cash equal to $95.00 less the applicable option exercise price and any applicable withholding taxes.