#1Allwyn Goldman Sachs EMEA Credit and Leveraged Finance Conference 5 September 2023 For further information on our company, please visit our investor relations website: www.allwynentertainment.com/investors/sazka- group-debt-investor-hub allwyn ●#2Today's presenters 2 Kenneth Morton Chief Financial Officer Allwyn Joined KKCG in 2019 and Allwyn in 2020 20+ years of experience Prior positions include Head of Corporate Finance at KKCG and Executive Director at Morgan Stanley KKCG / Morgan Stanley ● ● Iva Horcicova Head of Capital Markets Allwyn Joined Allwyn in 2021 10+ years of experience Prior positions include investment analyst at Napier Park Global Capital and investment banker at ING ING NAPIERPARK Y FFF Nick Edelman Head of Investor Relations Allwyn Joined Allwyn in 2023 20+ years of experience Prior positions include Head of Investor Relations at Bolt and investment research analyst at Goldman Sachs Bolt Goldman Sachs allwyn#301 allwyn Introduction to Allwyn#4Allwyn at a glance - leading multinational lottery operator with a strong financial profile... Allwyn operates the majority of privatized lotteries in Europe and recently entered the US lottery market 4 ● ● ● #1 lottery operator in 7 markets 6 exclusive licences €1,488bn PF Adjusted EBITDA¹ 40% Adjusted EBITDA Margin² 94% cash conversion³ 123 allwyn allwyn Allwyn Operated Lottery Markets Privatised Lottery Operations (Non-Allwyn) State Operated Lotteries In Q1 2023, Allwyn completed the acquisitions of Camelot UK, the current operator of the UK National Lottery, and of Allwyn LS Group (formerly referred to as Camelot LS Group), the current operator of the Illinois Lottery under a private management agreement (the "Camelot Acquisitions"): as if Camelot Acquisitions were already in effect for the whole LTM period to 30 June 2023. Adjusted EBITDA margin calculated as PF LTM Adjusted EBITDA / PF LTM Net Revenue as of 30 June 2023. Calculated as (PF LTM Adj. EBITDA less PF LTM Capex)/PF LTM Adj. EBITDA as of June 2023. allwyn allwyn allwyn Sallwyn allwyn allwyn#5... positioned in the sweet spot of the lottery ecosystem... LO 5 Product and technology suppliers IGT. neogames® SG SCIENTIFIC GAMES Technology and services ● National or local government, regulatory and / or fiscal bodies Government entities Brand management / ownership Game portfolio Consumer-focused lottery operators Licences and regulation ● • Marketing Strategy & analytics allwyn Agency agreements Retailers and agents POS network agreements Product & tech procurement Convenience stores, supermarkets, etc. selling physical tickets to end- consumers TESCO ELEVEN Online sales Physical retail sales Consumers allwyn#6... controlling a large portion of the lottery market value chain Simplified operating models US - Private management agreements CO European privatized lotteries 6 US- traditional model I Technology and consumables Scratchcard printing Physical retail hardware, central lottery system SG SCIENTIFIC GAMES IGT. Current Allwyn presence Platform Content SC SCIENTIFIC GAMES iLottery SC SCIENTIFIC GAMES IGT. neogames IMG SC SCIENTIFIC GAMES SC SCIENTIFIC GAMES SC SCIENTIFIC GAMES IGT! neogames MG SC SCIENTIFIC GAMES IGT! neogames MG allwyn IGT: IGT: IGT Operations, marketing, strategy Future opportunity for Allwyn State Commercial and operations Access to consumer Relationship with data POS allwyn allwyn Operator Operator State State Brand ownership State State allwyn#7We aim to be the lottery operator of choice for all our stakeholders Allwyn benefits from a differentiated and favorable position in the lottery competitive landscape 7 Unmatched local and multi-jurisdictional operational expertise in physical retail and online channels Strong product innovation credentials Track record of operational excellence Extensive experience of winning business and operating outside home market Trusted partner for governments with a proven track record of making lotteries larger, better and safer Robust financial profile with a strong balance sheet and access to capital Strong ESG credentials Highest certification in Responsible Gaming from the WLA Strong track record of CSR activities, supporting local communities Diversified multi-national B2C allwyn B2C - domestic champions The Lottery Corporation calottery FDJ B2C-state-owned operators NEW YORK LOTTERY NEDERLANDSE LOTERIJ LOTERÍAS Y APUESTAS DEL ESTADO VEIKKAUS B2B technology and consumables focus IGT. SCI SCIENTIFIC GAMES allwyn#8From zero to 7 markets and €1,488m Adjusted EBITDA¹ since 2011 Track record of entering new markets and building on existing positions Market entries Ownership evolution 8 1) 123 Czech Republic 2011 50% Stoiximan BETANO 2012 100% Greece and Cyprus € Mw 2013 15% 2014 As if Camelot Acquisitions were already in effect for the whole LTM period. Represents percent owned by OPAP 3) Represents pro rata ownership of Betano through OPAP until acquisition in 4Q 2022 Austria 2015 11% Italy ( 2016 33% 2017 2018 24% 38% 37% 9% 2019 32% Greece and Cyprus (Stoiximan) 2020 36% 60% 85% 2021 40% United Kingdom 北 2022 37% 100% Illinois ILLINOIS YTD 2023 I 100% 50% 1 50% 15% 85%² I 60% 11% 1 I 33% ! I I Change in Stake 100% I I 37%³9% 100% 1 I ● 100% i I 37% 50% 60% 85% 37% I 1 1 1 1 1 1 allwyn#9Consistently delivering balanced organic and inorganic growth Pro rata NGR (€m) 9 +7% +19% 440 2016A Organic CAGR (2016-2022) Inorganic CAGR (2016-2022) +36% 25 +6% 131 +30% 597 2017A +37% 65 +11% 157 +26% 819 2018A +20% 71 +9% +26% CAGR 90 +11% 980 2019A Organic growth (%) (9)% (212) (22)% 124 +13% 892 2020A Inorganic growth (%) +22% CAGR 215 +32% +24% 67 +8% 1,175 2021A +51% 242 +21% 361 +31% 1,777 2022A allwyn#10Continuing to execute the strategy that has driven our growth to date ● ● ● 10 soff Digital and Data Continue to increase online sales De-anonymise physical retail channel, e.g., through loyalty programs Leverage data to cross-sell and up-sell and enhance player protection Product Innovation Offer a full range of best-in-class products • New lottery games and complementary products Apply best practices across our geographies ● ● ● ● Operational Efficiency Focus on cashflow generation Purchasing, marketing and cost synergies Cost optimization programmes Performance oriented culture ● ● Inorganic Growth Grow stakes in existing businesses Selective bolt on and strategic acquisitions in lottery and iGaming Privatisations and tenders ● ESG ● Responsible gaming as a guiding principle and prerequisite for success • Best practices in CSR and ESG Major contributor to good causes and our communities allwyn#1102 Key Credit Highlights allwyn#12Allwyn has a highly attractive and resilient credit profile 12 1 2 3 5 4 Focus on attractive lottery market Leading multi-national operator High barriers to entry Multiple organic and inorganic growth levers Strong financial profile and cash conversion Strong regulatory relationships and responsible gaming credentials Best-in-class management team 1) Defined as (Adjusted EBITDA less Capex) / Adjusted EBITDA Focus on the attractive lottery segment, characterised by resilient growing demand, favourable regulatory regimes and ESG profile Largest European lottery operator with significant scale, diversification and expertise across geographies, products and channels Barriers to entry cemented by strong owned brands, exclusive long-term licences and well- established regulatory relationships Product innovation, growing online customer base, cross-sell potential to other gaming verticals, licence tenders and M&A opportunities offer multiple levers for growth Compounding, resilient revenue growth combined with advantageous cost structure, high margins and highly cash generative business model with 94% cash conversion¹ Preferred partner for governments underpinned by strong commitment to ESG as demonstrated by highest certifications for responsible play Best-in-class management team that has been responsible for the creation of today's business allwyn#13Lottery is a huge, growing market... Market Size (2022 GGR; €bn) T I I I I I I I I I I I I I I 13 3.2% 120 Lottery Source: H2GC. I I 1 I 10.9% 81 Sports Betting (2.6)% 72 (0.1)% 136 Gaming Machines Casino / Other Gaming 2017-2022 CAGR Lottery Market Growth (GGR; €bn) CAGR: 3.9% 120 10 109 2022A Physical retail Focus on attractive lottery segment iLottery 145 20 125 2027E allwyn#14...which has demonstrated resilience... Performance during Global Financial Crisis (2009A vs. 2008A Global GGR growth) 14 T I 1 I I T I I T 4.6% Lottery I 1 I I 1 1 I I I I 1 I I I T I I I I 1 I I I I I T I I I T I I I I I I I I T I I I I Source: H2GC, World Bank. (0.1)% Casino (2.9)% (3.3)% Sports Betting GDP (OECD) Performance during COVID-19 (2020A vs. 2019A Global GGR growth) (4.6)% GDP (OECD) T T 1 1 I 1 1 1 T I 1 I I 1 I 1 1 I 1 I I T 1 1 1 I 1 I 1 (4.7)% Lottery I 1 Reflects impact on physical retail channel I (7.2)% Sport Betting (32.5)% Casino Focus on attractive lottery segment Lottery's unique characteristics give it evergreen, mass-market appeal with resilient demand: ✓ Potential life-changing wins Broad popularity across demographics ✓ Large proportion of players play by habit ✓ Easily accessed at local retailers and digitally ✓ Smaller average wager size allwyn#15Focus on attractive lottery segment …and benefits from a more favourable regulatory regime and ESG profile versus other gaming segments Lottery benefits from a positive public perception and stable regulatory and fiscal framework Public perception 15 Regulation Most acceptable, socially responsible Major contributor to good causes High penetration across population groups with lower stakes Well established regulatory and fiscal framework Long-term regulator relationships Few established operators Long term licenses Game characteristics contribute to positive responsible gaming profile... Lottery Low frequency playing, 2-3 draws/week Low winning odds Infrequent payback Small average ticket size Rare near-win events High gross win margin (c. 30-50%) VS. 1) % of at-risk gamblers among all respondents who participated in different gambling activities (Public Health England, Gambling-related harms evidence review, 2021) ? Greater regulatory and public scrutiny ? Negative perception around problem gambling ? Niche participation with larger stakes ? varying regulatory regimes, some underdeveloped ? Numerous operators ...as evidenced by low participation among at-risk gamblers¹ Allwyn focus 6.8% Other Gaming National Lottery 25.7% Slot machines 30.5% Sports betting 31.5% Casino table games 52.0% Spread-betting allwyn#16Allwyn is a leading multi-national lottery operator Significant scale, diversification and expertise across geographies, products and channels 16 IN 3 4) Geographic split (FY 2022)¹ 13% 12% 16% Other 3% 2% 17% 38% #1 lottery operator in 7 markets VLT and Casinos Product split (FY 2022)² Sports betting iGaming 11% 8% 0 6% 75% Lottery €1.49bn PF LTM Adj. EBITDA in June 2023 4% in FY19 Online Leading multi-national operator Channel split (FY 2022)³ 35% 65% 120k Points of sale4 Based on FY 2022 pro-rata pro-forma Adj. EBITDA. For US and UK based on FY2022 Adj. EBITDA (March year-end), at 1.174 GBP / EUR exchange rate Represents FY 2022 Consolidated GGR Pro Forma for Camelot UK; includes £3,478m of FY 2022 GGR from Camelot UK (based on the annual report for the year ended March 31, 2022, converted at 1.174 GBP/EUR exchange rate). All operations of Camelot UK are included in Lottery Represents FY 2022 Consolidated GGR Pro Forma for Camelot UK Including UK Physical retail allwyn#17High barriers to entry specific to lotteries... In addition to those prevalent in lottery, Allwyn benefits from its B2C business model and specific factors in individual markets Lottery specific barriers to entry ✓ Regulators and other stakeholders need proven trusted partners given significant contributions to budgets / good causes, high profile and critical importance of public trust in the lottery creating significant risk aversion Operational credentials Responsible gaming credentials Financial strength Corporate reputation ✓ Exclusive long-term concessions create - 17 Deep relationships with regulators and other stakeholders Impossible to match market knowledge ✓ Relatively few potential challengers given industry structure Allwyn is uniquely positioned as a multinational B2C- focused operator High barriers to entry + B2C specific / unique Allwyn factors a Brand ownership - critical in many markets Complex business model and operations Complex contractual relationships, including with huge fragmented POS networks Multiple overlapping licences for different products create economies of scale a State co-ownership/ status as local-listed blue-chip stock Cultural, language and data barriers in European markets a Unique knowledge of international B2C best practice, online and physical retail a Complex IT and data, including multiple external legacy systems allwyn#18...and unique barriers to entry specific to Allwyn Strong owned brands, largely exclusive long-term licenses and well-established regulatory and stakeholder relationships cement structural barriers to entry License and history Brands Other 18 Start of operations Exclusive licenses Market share Lottery concession length (including extensions) Other exclusive licensed products³ License expiration (exclusive licenses) Owned brands Brand awareness POS network Other Austria 1986 100% 15 years 2 Lotteries and iGaming: 2027 Domestic casinos: 6 licenses in 2027 and 6 licenses in 2030 87% 5,000 33% state-owned Czech Republic 1956 94% n/a I n/a 78% 12,000 Greece and Cyprus 1958 100% Up to 30 years 3 Numerical lotteries: 2030 Instant lotteries: 2026 VLTS: 2035 Offline sports betting: 2030 Horse racing: 2036 ✓4 100% 16,000 Publicly traded on Athens Stock Exchange Italy 1993¹ 79% 9 years 2025 United Kingdom 1) Through JV partner 2) Large jackpot lotteries. Other non-profit "society lotteries" also operate 3) Products categorised as iGaming, Sports betting, Horse racing, VLTS and casinos; note that exclusive licenses include for onshore iGaming (Austria) and for sports betting through the physical retail channel (Greece) OPAP and Stoiximan brands owned; some game brands owned by the Greek state 4) 1994 100%² 10 years ] High barriers to entry 2034 Illinois 1974 100% 10 years 2027 Owned by the regulator Owned by the regulator Owned by the regulator 81% n/a n/a 7,000 34,000 46,000 allwyn#193 key pillars of our organic growth strategy 19 Strong organic growth through successful implementation Best practice sharing across geographies ✓ Constant evaluation to optimize current product offer and identify new opportunities ✓ Balance of in house and outsourced content and technology ✓ Digital and physical retail capabilities ● ● ● ● Digital Lottery New users Grow customer spend Product innovation Data analytics, CRM, online marketing Ability to implement enhanced player protection measures ● ● ● ● Retail Lottery Product innovation De-anonymization through customer registration & loyalty programs Digitalizing of physical retail New product launches ● ● ● Multiple organic and inorganic growth levers Cross-Sell Build on trusted brands, large lottery customer base Advanced data analytics, CRM Hyper-personalization of campaigns New product launches & entry into adjacent products and gaming verticals allwyn#20Strong digital channel growth Rapid online growth while retail channel remains resilient 20 GGR (€m) 286 55 231 FY 2019 Czech Republic CAGR: 16.5% Online +359% vs FY 2019 453 197 256 FY 2022 CAGR: 53.1% CAGR: 3.4% GGR (€m) Greece and Cyprus (incl. Stoiximan for both periods) 1,821 213 1,608 FY 2019 CAGR: 2.1% Online +211% vs FY 2019 Online channel 1,939 450 1,489 FY 2022 CAGR: 28.3% CAGR: (2.5)% Physical retail channel GGR (€m) 789 150 639 Multiple organic and inorganic growth levers Austria (Excl. VLTs and Casinos) FY 2019 CAGR: 4.6% Online +182% vs FY 2019 903 274 629 FY 2022 CAGR: 22.2% CAGR: (0.5)% allwyn#21Our organic growth track record Compounded top-line growth and cost efficiency drive EBITDA growth 21 GGR (cm) Adj. EBITDA (cm)¹ Note: Financials presented on a 100% basis. 1) Operating EBITDA for Czech Republic 2012A 121 2012A 36 2012A Czech Republic CAGR: 14.1% CAGR: 12.8% 453 2022A 120 2022A O 1,300 2019A 211 2019A Multiple organic and inorganic growth levers Austria CAGR: 3.0% CAGR: 7.4% 1,419 2022A 261 2022A allwyn#223 key pillars of our inorganic growth strategy 22 Investment priorities Strategic fit Europe and North America ✓ Lottery and digital gaming ✓ Control over cash flows and strong governance rights ✓ Regulated operations ✓ Strong financial profile Increase ownership interest in existing operations а орар S Sazka BETANO Stoiximan CASINOS AUSTRIA 2 Österreichische LOTTERIEN 10 Enter new markets via tenders and privatization processes LOTTOITALIA opap 米 UK National Lottery Multiple organic and inorganic growth levers Strategic bolt-ons in products and technologies Camelot Lottery Solutions Stoiximan allwyn#23Allwyn enjoys highly attractive financial characteristics 23 Strong growth track record 1) 2) 3) High profitability Favourable cost structure High cash conversion Conservative balance sheet Calculated as PF LTM Adj. EBITDA/ PF LTM Net Revenue as of 30 June 2023. LTM as of 30 June 2023 PF for impact of Camelot Acquisitions. Defined as (PF LTM Adj. EBITDA - PF LTM Capex)/ PF LTM Adj. EBITDA as of 30 June 2023. PF LTM Adj. EBITDA as of 30 June 2023. 40% Adj. EBITDA Margin¹ 2.5x increase in Pro Forma Consolidated LTM Adj. EBITDA in H1'23 vs FY'19 5 92% cost base variable / discretionary² 94% cash conversion³ 1.8x Net Debt / LTM PF Adj. EBITDA4 Strong financial profile €(678)m Subsidiary Net Debt / (Cash) allwyn#24ESG is a prerequisite for success in the lottery industry We have been focused on key ESG themes for many years as our key stakeholders care 24 Governments / Regulators Regulatory requirements of existing licenses Sustainable tax and good cause revenues Key focus for regulators Constructive regulatory Operations and new opportunities engagement Successful ESG strategy Crucial to access new business More favourable social perception Safer play Attract and retain employees ESG and responsible gaming Other key Stakeholders allwyn#25A new group-wide ESG strategy for a sustainable business model Unifying our pre-existing ESG activities across our different markets 1 25 3 57 P. Playing Responsibly Safer gaming & player protection Business Ethics & Compliance Responsible Governance Empowering People Diversity & Inclusion Occupational health & safety C&Talent attraction & development WLA WORLD LOTTERY ASSOCIATION Certified Level 4 of Responsible Gaming Framework GAMBLING COMPLIANCE GLOBAL VIXIOREGULATORY AWARDS 2020 Key sponsor 2 4 444 Kol 5 Partnering for Impact AMING Partnerships & Sponsorships Respecting the Planet GIA. 2020 Community engagement Energy consumption & greenhouse gas emissions Resource consumption Sustainable supply chain AWARD Awarded 2020 Lottery operator of the year THE EUROPEAN LOTTERIES Member & Certified Alignment with Responsible Gaming Standards Key elements of our approach to responsible gaming / safer gaming ● • Digital - Leverage player data ● ● ● Design - A risk-based design approach for games' potential impact on player behavior Innovation - Al and machine learning Dialogue - Using digital generated warnings of problematic behaviour to intervene Accreditation - Level 4 Certifications, the highest provided by the World Lottery Association Investment - Training, internal and external consultancy as well as safety related product development GREEN & ESG and responsible gaming BUILDING COU LEED GOLD Certified Leed Gold PLEASE PLAY RESPONSIBLY EUROPEAN CASINO ASSOCIATION Certified Responsible Gaming Standards Safer Gambling Standard Certified Advanced Level 2 GamCare Safer Gambling Standard allwyn#26Experienced management team and board... Management Board of Directors 26 Robert Chvatal T Mobile P&G ● Since 2013 CEO Pavel Turek • Since 2021 Red Bull RACING Chief Brand & Communication Officer ● ● Chairman Katarina Kohlmayer • Group CFO of KKCG Karel Komarek • Founder of KKCG • Founder of the Proměny Foundation Since 2016 Kenneth Morton KKCG Non-independent Director Morgan Stanley • Since 2020 Note: Board and Management of Allwyn International a.s. CFO Jan Sterba KKCG Ⓡ reckitt • Since 2020 CMO Previous experience at Morgan Stanley and VTB Capital Since 2019 Stepan Dlouhy CIO ● KKCG Chayton Capital Since 2016 Antonella Pederiva PANGEA PUBLIC AFFAIRS Since 2017 Head of Government Affairs ● Jan Matuska KEARNEY ● Executive Director Since 2019 COO Iva Horcicova NAPIERPARK ING . Since 2021 Head of Capital Markets Robert Chvatal • CEO of Allwyn • Previous experience at T-Mobile, Procter & Gamble and Reckitt Benckiser Since 2019 Tomas Porupka • General Counsel at KKCG • Previous experience at Clifford Chance • Since 2011 (at KKCG) Member of the Supervisory Board Tony Khatskevich CTO Since 2018 SOURCE OF SUCCESS Jonathan Handyside SHEARMAN & STERLING Since 2022 Best-in-class management team Group General Counsel Naida Buljugic CASINOS AUSTRIA G Non-independent Director ● Since 2023 Chief People and Culture Officer Pavel Saroch • CIO of KKCG • Previous experience at Ballmaier & Schultz, Prague Securities, ATLANTIK Since 2016 allwyn#2703 Historical financials allwyn#28Strong historic growth, profitability and cash conversion Net Revenue and Adjusted EBITDA more than doubled since 2019 Net Revenue (€m) Adjusted EBITDA (€m) 28 1,458 FY 2019 1,356 24% CAGR 1,994 2,531 2,388 +28% 3,068 FY 2020 FY 2021 FY 2022 LTM H1 LTM H1 2023 2022 41.4% 603 39.7% 48.5% 538 26% CAGR 967 46.1% Note: € in millions. 2021 figures restated for treatment of Stoiximan GGR and adjustment for arbitration gain. EBITDA is on a post-IFRS 16 basis. 1) Calculated as Adj. EBITDA/Net Revenue 2) Calculated as (Adj. EBITDA - Capex)/Adj. EBITDA 1,167 FY 2019 FY 2020 FY 2021 FY 2022 47.6% +18% 1,136 LTM H1 2022 43.7% 1,342 LTM H1 2023 €1,488m PF for LTM of Camelot Acquisitions Adjusted FCF (Adjusted EBITDA - Capex) (€m) 93.8% 91.4% 566 492 11 FY 2019 FY 2020 EBITDA Margin¹ 94.8% 26% CAGR 917 FY 2021 94.2% FY 2022 95.8% 1,099 1,088 Cash Conversion² +16% 93.7% LTM H1 2022 [x]% 1,257 LTM H1 2023 YOY growth allwyn#29Highly flexible cost base with majority of expenses linked to revenue More than 90% operating expenses linked to revenue / discretionary in short to medium term Split of operating expenses on a consolidated basis (PF LTM 30 June 2023)¹ 29 Gaming taxes Agents' commissions Materials, consumables and services Marketing services Personnel expenses Other operating expenses Variable/discretionary costs 1) Pro forma for Camelot Acquisitions. 12% 11% 5% 7% 1% 11 1 I I I I I I 1 I I I I I I I 63% ● ● Substantial portion of cost base is variable All/ majority of lottery and gaming related taxes, agents' commissions and materials, and consumables and services are directly linked to revenues Substantial portion of marketing expenses is discretionary in the short to medium term allwyn#3004 Appendix allwyn#31Dividends and distributions €m Dividends and cash upstreamed - 100% basis Austrian Lotteries CASAG Lottoltalia OPAP SAZKA Dividends and cash upstreamed - pro rata to interest at the end of each period of which cash 31 of which OPAP dividend taken as scrip Dividends and cash upstreamed - pro rata to interest as of 30 June 2023 of which cash of which OPAP dividend taken as scrip 2) 9.45% directly held stake. CASAG also holds a 73.8% stake in Austrian Lotteries Net of treasury shares Ownership At end of June 2023 9.5%¹ 59.7% 32.5% 50.4%² 100.0% 2019 120 15 351 165 19 203 203 236 236 2020 177 237 420 38 284 139 145 343 144 200 2021 91 I 316 222 81 282 197 85 304 199 106 2022 120 45 321 599 84 527 423 104 529 425 104 HI22 120 275 49 150 150 150 150 HY23 114 130 242 416 45 421 349 72 421 349 72 allwyn#32Summary of adjustments to EBITDA Operating EBITDA Austria Czech Republic Greece and Cyprus United Kingdom² Allwyn LS Group Corporate² Adjustments to Operating EBITDA Austria Czech Republic Greece and Cyprus United Kingdom Allwyn LS Group Corporate Adjusted EBITDA Austria Czech Republic Greece and Cyprus United Kingdom Allwyn LS Group Corporate 32 Standalone, 100% (€m)¹ I I 1 I I 2019 211 95 413 11 1 - 11 2 211 95 413 2020 (27) (30) (17) 147 84 260 1 66 1 1 15 (4) (21) 143 82 326 2021 (15) 232 107 555 (14) 4 23 1 1 7 211 111 578 1 (7) 2022 266 120 726 G 5 3 (43) (19) 1 1 36 261 120 730 Q1'23 66 (8) 36 197 26 ¦ ¦ (3) 18 6 18 66 32 197 45 9 (1) Q2'23 67 34 178 50 8 (25) (3) 2 1 25 67 31 180 50 8 0 I i Argentina arbitration gain I I Other I Total Austria adjustments I I I I I I I I I Hellenic Lotteries minimum gaming tax adjustment Litigation provision i COVID-19 related extraordinary costs I Other non-recurring costs and write-offs !Total Greece and Cyprus adjustments I Casino Linz insurance gain + restructuring non-personnel costs EBITDA Adjustments Breakdown³ I I ! Restructuring I Change in accounting principles Litigation settlement income Total United Kingdom adjustments I Gain from cancellation of obligation to acquire entity Charitable donations and other I I L Penalty income Change in accounting principles Total Czech Republic adjustments Expenses related to license bid and transaction costs I UK National Lottery transition costs Business development and financing Arbitration gain !Total Corporate adjustments Transaction costs Total Allwyn LS Group adjustments All entities shown on 100% basis; all of Q1 2023 shown for United Kingdom and Allwyn LS Group (formerly Camelot LS Group) Activities related to the next UK National Lottery license, which will commence in February 2024 and will be operated by the Company's subsidiary Allwyn UK, are currently reported as part of the Corporate segment. See additional disclosure relating to EBITDA adjustments in Allwyn International Q2 2023 Preliminary Unaudited Results and Update on Current Trading 2019 111|11||||||@1 |- ||||||||| (16) 17 1 10 10 2020 2021 (4) (1) (16) (4) (4) (21) ||| |||||||||| (2) (2) 38 66 1 1 15 15 4 4 25 (1) (4) 3 23 20 (13) 7 2022 GO (5) | | | | | | - (1) 1 21 14 36 Q1'23 1 1 1 1 1 1 1 1 (1) (3) 7 4 8 ! 18 6 6 18 18 Q2'23 (3) 2 1 -- 2 1 1 1 11 25 0 25 allwyn#33Simplified business model by geography Key P&L drivers € A B D F E Amounts Staked 33 Players Winnings A-B=C Gross Gaming Revenue (GGR) Lottery Tax Costs с ● =G ● Amount of wagers placed by customers ● Winners' pay-outs Calculated as tax base (usually GRR) multiplied by rate; varies based on type of game and country Net Gaming Revenue (NGR) Opex SG&A EBITDA ● ● ● Agent commission (variable, calculated as a % of amount staked / NGR) IT costs from gaming suppliers like Intralot / IGT / Playtech, etc. (partially fixed, partially linked to GGR or NGR) Other expenses include rental, content fees and other expense Personnel expenses Marketing expenses (flexible in medium term) A B Commission A Amounts Staked D ● Costs ● Amount of wagers placed by customers Percentage of amount staked BEC Revenues from contracts with customers Opex SG&A DEG EBITDA ● ● ● IT costs Other expenses Personnel expenses Marketing expenses allwyn#34Simplified business model for UK Key P&L drivers A B A D E Amounts wagered Players winnings Contribution to good causes O-D-= ● Costs ● B C Gross Gaming Revenue (GGR) Lottery duty ● Amount of wagers placed by customers ● Winners' pay-outs -GH EBITDA Contribution to good causes calculated as Surplus¹ (incl. fixed contribution from licencee) less actual licence share of Surplus Net Gaming Revenue (NGR) Calculated as tax base (amount staked) multiplied by rate Opex SG&A (from February 2024) ● ● Agent commission (variable, calculated as a % of amount staked / NGR) IT costs from gaming suppliers (partially fixed, partially linked to GGR or NGR) Other expenses include rental, content fees and other expense (fixed) Personnel expenses Marketing expenses (flexible in medium term) 34 1) Surplus calculated as NGR before contribution to good causes less total opex and implementation adjustments, plus non-eligible costs. ● Cost recovery mechanism also allows recovery of most up-front costs over the course of the licence allwyn#35Overview of key metrics for operating entities In every geography, our operations are large, high-quality businesses in their own right Key financials by business - 100% basis (LTM 30 June 2023) €m Net revenue Adjusted EBITDA % margin Capex 35 % of net revenue Adjusted free cash flow¹ % cash conversion² 2) Adj. FCF = Adj. EBITDA - Capex Cash conversion = Adj. FCF / Adj. EBITDA Austria 820 269 33% 24 3% 245 91% Czech Republic 335 123 37% 9 3% 114 92% 4) Greece and Cyprus 1529 765 50% 25 2% 740 97% Italy 468 380 81% 0 0% 379 100% allwyn#36Overall product portfolio across physical retail and online channels Lotteries 36 3) ✓ Product currently offered National jackpot game LOS $$$ iGaming¹ Pan-European jackpot game Sports betting Fast game Annuity game Other numerical lotteries Instant lotteries VLTS and casinos Austria Physical retail n/a Online n/a Czech Republic Physical retail n/a Online ✓ n/a Physical retail n/a Greece and Cyprus² Online Launch expected Launch expected Launch expected n/a 0 Italy Physical retail Online iGaming includes online casino, online slots, online poker, online bingo and other online only; online sales of products which are also sold through physical retail channel included under respective product In Cyprus OPAP only offers numerical lotteries and sports betting On 20th September 2022, Allwyn has been officially awarded the licence to operate the National Lottery for a decade starting February 2024 United Kingdom³ Physical retail ✓ ✓ Online ✓ ✓ United States Physical retail Online Launch expected Launch expected allwyn#37Alternative performance measures and comparability of information This presentation includes non-IFRS performance measures, including Net Revenue, Net gaming revenue ("NGR"), Operating EBITDA, Adjusted EBITDA, Adjusted EBITDA margin, Capex, Adjusted Free Cash Flow ("Adjusted FCF"), Cash conversion and pro rata financial information. For Net Revenue, NGR, Operating EBITDA, Adjusted EBITDA, Adjusted EBITDA margin, Adjusted Free Cash Flow and Capex, please refer to Allwyn International's Preliminary Unaudited Financial Results and Update on Current Trading dated around the same date as this presentation that include definitions of these non-IFRS measures and reconciliations to the most directly comparable IFRS measures. Pro rata metrics are calculated as the sum of metrics for individual segments and significant equity method investees as if those were fully consolidated multiplied by the Group's interest in each segment or significant equity method investee at the end of the reported period. In the case of our Greece and Cyprus segment, treasury shares held by OPAP are not excluded from the share count. As there are no generally accepted accounting principles governing the calculation of non-IFRS financial and operating measures, other companies may calculate such measures differently or may use such measures for different purposes than we do, and therefore you should exercise caution in comparing these measures as reported by us to such measures or other similar measures as reported by other companies. These measures may not be indicative of our historical operating results or financial condition, nor are such measures meant to be predictive of our future results or financial condition. Even though the non-IFRS financial measures are used by management to assess our financial position, financial results and liquidity and these types of measures are commonly used by investors, they have important limitations as analytical tools, and you should not consider them in isolation or as substitutes for analysis of our financial position or results of operations as reported under IFRS. All financial information is presented on comparable basis, including effects of any restatements or changes in presentation described in the latest annual accounts on the currently presented comparative period. 37 allwyn#38Disclaimer This presentation was produced by Allwyn International a.s. This presentation is not to be reproduced or distributed, in whole or in part, by any person other than Allwyn International a.s. This presentation does not represent an offer for, or constitute or form part of, and should not be construed as, an advertisement, recommendation or an invitation to subscribe for or to purchase securities of, Allwyn International a.s. or its subsidiaries. This presentation does not form, and should not be construed as, the basis of any credit analysis or other evaluation, or as providing an investment or lending recommendation, advice or valuation or a due diligence review. The information contained in this presentation is for informational purposes only. The preliminary unaudited results for the three months to 30 June 2023 are an estimate, based on information available to management as of the date of this presentation, and are subject to further changes upon completion of the Company's standard quarter closing procedures. This update does not present all necessary information for an understanding of the Group's financial condition as of the date of this presentation, or its results of operations for the first quarter. As the Company completes its quarter-end financial close process and finalizes its financial statements for the quarter, it will be required to make significant judgments in a number of areas. It is possible that the Company may identify items that require it to make adjustments to the financial information set forth in this document and those changes could be material. The Company does not intend to update such financial information prior to release of its final first quarter financial statements, which is expected on or before 14 September 2023. This presentation may include forward-looking statements regarding certain of our plans and our current goals, intentions, beliefs and expectations concerning, among other things, our future results of operation, financial condition, liquidity, prospects, growth, strategies, pending acquisitions or other transactions, financing plans and the industries in which we operate. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Generally, but not always, words such as "may," "could," "should," "will," "expect," "intend," "estimate," "anticipate," "assume," "believe," "plan," "seek," "continue," "target," "goal," "would" or their negative variations or similar expressions identify forward-looking statements. By their nature, forward-looking statements are inherently subject to risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. We caution you that forward-looking statements are not guarantees of future performance and that Allwyn's actual results of operations, financial condition and liquidity and the development of the industries in which we operate may differ materially from those made in or suggested by the forward-looking statements contained in this announcement. In addition, even if our results of operations, financial condition and liquidity and the development of the industries in which we operate are consistent with the forward-looking statements contained in this document, those past results or developments may not be indicative of results or developments in future periods. We do not undertake any obligation to review, update or confirm expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise after the date of this document. 38 allwyn#39Disclaimer No warranty or representation of any kind, express or implied, is or will be made in relation to, and to the fullest extent permissible by law, no responsibility or liability in contract, tort, or otherwise, is or will be accepted by us or any of our officers, employees, advisers or agents, or any other party, as to the accuracy, completeness or reasonableness of the information contained in this presentation, including any guidance, opinions, forecasts or projections. Nothing in this document shall be deemed to constitute such a representation or warranty. Any estimates and projections in this presentation were developed solely for our use at the time at which they were prepared and for limited purposes which may not meet the requirements or objectives of the recipient of this presentation. Nothing in this document should be considered to be a forecast of future profitability or financial position, and none of the information in the document is or is intended to be a profit forecast or profit estimate. We are not providing any advice herein (whether in relation to legal, tax or accounting issues or otherwise). You should seek legal, tax, accounting and any other necessary advice from your advisors in relation to the contents of this presentation. This presentation has not been approved by any regulatory authority and does not represent financial statements or an annual report within the meaning of applicable Czech law. 39 allwyn