#1Analyst Day Presentation June 2022 For further information on our company, please visit our website: allwynentertainment.com allwyn 10 HIGHLY CONFIDENTIAL#2Disclaimer General This presentation (the "Presentation") is for informational purposes only. The information provided in this Presentation pertaining to Allwyn AG and its subsidiaries, joint ventures and associates ("Allwyn" or the "Company" or "we"), its business assets, strategy and operations has been prepared to assist interested parties in making their own evaluation with respect to a potential business combination between the Company and Cohn Robbins Holdings Corp. (the "SPAC") (the "Proposed Business Combination") as described in the Business Combination Agreement, dated as of January 21, 2022 (the "Merger Agreement") by and among SPAC, the Company, Allwyn Entertainment AG, Allwyn US HoldCo LLC and Allwyn Sub LLC, and the private placement of securities in connection with the Proposed Business Combination, and for no other purpose, and shall not constitute an offer to sell, or a solicitation of an offer to buy, any securities, options, futures, or other derivatives related to securities, nor shall there be any sale of such securities or other derivatives in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. The information contained herein does not purport to be all inclusive. Nothing herein shall be deemed to constitute investment, legal, tax, financial, accounting or other advice. Neither the U.S. Securities and Exchange Commission (the "SEC") nor any securities commission or similar regulatory agency of any other jurisdiction has reviewed, evaluated, approved or disapproved of the contents of this Presentation or the Proposed Business Combination or the securities or determined that this Presentation is truthful or complete, and the content of this Presentation is not prescribed by securities laws. Investors should consult with their counsel as to the applicable requirements with respect to any exemption under the Securities Act. The transfer of securities may also be subject to conditions set forth in an agreement under which they are to be issued. Investors should be aware that they might be required to bear the final risk of their investment for an indefinite period of time. In addition, this Presentation does not purport to be all-inclusive or to contain all of the information that may be required to make a full analysis of the Proposed Business Combination or an investment in any securities or the Company or the SPAC and is not intended to form the basis of any decision with respect to any securities, the Company, the SPAC or the Proposed Business Combination. The consummation of the Proposed Business Combination will also be subject to other various risks and contingencies, including customary closing conditions. There can be no assurance that the Proposed Business Combination will be consummated with the terms described herein or otherwise. As such, the subject matter of these materials is evolving and is subject to further change by the Company and the SPAC in their joint and absolute discretion. "Allwyn" is a registered trademark of Allwyn International a.s. The Company intends to complete a rebranding of its parent/holding companies from "SAZKA" to "Allwyn". The rebranding has not been completed and may take significant time to complete, may be subject to regulatory or other approvals in certain jurisdictions, and may not ultimately be completed. The projections herein and the assumptions underlying such projections differ from those disclosed in the Form F-4 filed with the SEC by Allwyn on May 20, 2022; the projections included in the Form F-4 were those provided by Allwyn and reviewed by the Cohn Robbins Board in approving the Proposed Business Combination, as included in the investor presentation filed with the SEC by Cohn Robbins on January 21, 2022. No Representations or Warranties and Industry and Market Data No representations or warranties, express or implied, are given in, or in respect of, this Presentation. While the information in this Presentation is believed to be accurate and reliable, the Company, SPAC and their respective agents, advisors, directors, officers, employees and shareholders make no representation or warranties, expressed or implied, as to the accuracy or completeness of such information and the Company and SPAC expressly disclaim any and all liability that may be based on such information or errors or omissions thereof. To the fullest extent permitted by law in no circumstances will the Company, the SPAC or any of their respective subsidiaries, equity holders, affiliates, directors, officers, employees, representatives, advisers or agents be responsible or liable for a direct, indirect or consequential loss or loss of profit arising from the use of this Presentation, its contents, its omissions, reliance on the information contained within it, or on opinions communicated in relation thereto or otherwise arising in connection therewith. Industry and market data used in this Presentation have been obtained from third-party industry publications and sources as well as from research reports prepared for other purposes (including, but not limited to, the H2GC report, which was commissioned by the Company). This information involves many assumptions and limitations; therefore, there can be no guarantee as to the accuracy or reliability of such assumptions and recipients are cautioned not to give undue weight to this information. Neither the Company nor the SPAC has independently verified the data obtained from these sources and no representation is made as to the accuracy, reasonableness or completeness any projections or modelling or any other information contained herein and neither the Company nor the SPAC undertake, and the Company and the SPAC expressly disclaim, any obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed in this Presentation. Any data on past performance or modelling contained herein is not an indication as to future performance. This Presentation does not take into account, nor does it provide and nor should it be construed as providing, any tax, legal, regulatory, business, financial, accounting or investment advice or opinion regarding the specific investment objectives or financial situation of any person. Recipients of this Presentation should consult their own legal, regulatory, tax, business, financial and accounting advisors to the extent they deem necessary, and each recipient must make its own evaluation of the Company, the SPAC and the transactions contemplated in this Presentation and of the relevance and adequacy of the information. The information contained in this Presentation only speaks at the date of this presentation. Neither the delivery of this Presentation nor any further discussions of the Company's or the SPAC's businesses with the recipient thereof shall, under any circumstances, create any implication that there has been no change in the affairs of the Company's or the SPAC's businesses since the date of this Presentation. The Company and the SPAC reserve the right to amend or replace the information contained herein, in part or entirely, at any time, and undertake no obligation to provide the recipient with access to the amended information or to notify the recipient thereof. Trademarks The Company, the SPAC and their respective affiliates own or have rights to various trademarks, service marks and trade names that they use in connection with the operation of their respective businesses. This Presentation also contains trademarks, service marks and trade names of third parties, which are the property of their respective owners. The use or display of third parties' trademarks, service marks, trade names or products in this Presentation is not intended to, and does not imply, a relationship with the Company, the SPAC or any of their respective affiliates, or an endorsement or sponsorship by or of the Company, the SPAC or such affiliates. Solely for convenience, the trademarks, service marks and trade names referred to in this Presentation may appear without the TM, SM or symbols, but such references are not intended to indicate, in any way, that the Company, the SPAC, their respective affiliates or any third parties whose trademarks are referenced herein will not assert, to the fullest extent under applicable law, their rights or the right of the applicable licensor in these trademarks, service marks and trade names. Certain Financial Measures and Calculations Certain financial and statistical information in this Presentation has been subject to rounding off adjustments. Accordingly, the sum of certain data may not conform to the expressed total. The Company uses several key operating measures, including but not limited to Amount wagered, Operating EBITDA, Operating EBITDA Margin, Adjusted EBITDA, Adjusted EBITDA Margin, capital expenditures and Cash Conversion, to track the performance of its portfolio and business. None of these items, including with certain unaudited numbers in the information, are a measure of financial performance under GAAP or IFRS, nor have these measures been audited or reviewed by an external auditor, consultant or expert. These measures are derived from management information systems. These items are an addition to, and not a substitute for or superior to, measures of financial performance prepared in accordance with GAAP or IFRS, and should not be considered as an alternative to net income, operating income or any other performance measures derived in accordance with GAAP or IFRS. As these terms are defined by the Company's management and are not determined in accordance with GAAP or IFRS, thus being susceptible to varying calculation, the measures presented may not be comparable to other similarly titled measures terms used by other companies. Any such information, measure or estimate should therefore not be regarded as an indication, forecast or representation by the Company, the SPAC or any other person regarding the Company's operating or financial performance for the respective period. The Company believes that these measures of financial results (including on a forward-looking basis) provide useful supplemental information to investors about the Company. However, there are a number of limitations related to the use of these measures in connection with their nearest equivalents which have been prepared in accordance with GAAP or IFRS. For example, other companies may calculate such other measures differently, or may use other measures to calculate their financial performance, and therefore the Company's measures may not be directly comparable to similarly titled measures of other companies. The principal limitation of these financial measures is that they exclude items that are significant in understanding and assessing the Company's financial results, including significant expenses, income and tax liabilities that are required by GAAP and/or IFRS to be recorded in the Company's financial statements. In addition, they are subject to inherent limitations as they reflect the exercise of judgements by the Company about which expense and income are excluded or included in determining these financial measures. While the Company and the SPAC believe the information set forth in this Presentation is reasonable, it is inherently subject to modification in connection with their ongoing review or audit procedures and such modifications may be material. Accordingly, such information and data may not be included, may be adjusted or may be presented differently in any proxy statement, prospectus or registration statement or other report or document to be filed with or furnished to the SEC by the Company, the SPAC and/or their respective affiliates. allwyn#3Disclaimer (Continued) Forward Looking Statements, Financial Projections and Financial Targets Certain information in this Presentation and oral statements made in connection with this Presentation are forward-looking. Forward-looking statements include, without limitation, statements regarding the estimated future financial performance, financial position and financial impacts of the Proposed Business Combination and the satisfaction of closing conditions to the Proposed Business Combination. Words or phrases such as "anticipate," "objective," "may," "will," "might," "seem," "should," "could," "can," "intend," "expect," "believe," "estimate," "predict," "potential," "plan," "is designed to," "would," "continue," "project," "possible," "seek," "future," "outlook," "strive," "strategy," "opportunity," "will continue," "will likely result" or similar expressions suggest future outcomes but the absence of these words does not mean that a statement is not forward-looking. When the Company or the SPAC discuss their strategies or plans, including as they relate to the Proposed Business Combination, they are making projections and using forward-looking statements. These forward-looking statements include, but are not limited, statements regarding estimates, forecasts of other financial and performance metrics, projections of market opportunity and other characterizations of future events or circumstances, including any underlying assumptions. Forward-looking statements, financial projections and financial targets are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements, financial projections and financial targets. Although we believe that the expectations reflected in the forward-looking statements and financial projections are reasonable, there can be no assurance that such expectations will prove to be correct. None of the Company's or the SPAC's independent auditor, nor any other independent accountants, have applied, examined or performed any procedures with respect to the financial targets, nor have they expressed any opinion or any other form of assurance on the financial targets or their achievability. These forward-looking statements are provided for illustrative purposes only and must not be relied on by an investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. The financial targets constitute forward-looking statements and are not guarantees of future financial performance. The Company and the SPAC cannot guarantee future results, level of activity, performance or achievements and there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking statements, financial projections and financial targets as actual events and circumstances are difficult or impossible to predict and may differ from assumptions. While in some cases presented with numerical specificity, by their nature, forward-looking statements, financial projections and financial targets involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking information will not occur, which may cause the Company's actual performance and financial results in future periods to differ materially from any estimates or projections or targets of future performance or results expressed or implied by such forward-looking statements, financial projections and financial targets. Many actual events and circumstances are beyond the control of the Company or the SPAC. There may be additional risks that neither the Company nor the SPAC presently know, or that the Company or the SPAC currently believe are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. The financial targets reflect the Company's subjective judgements in many respects and thus are susceptible to multiple interpretations and periodic revisions based on actual experience and business, economic, financial and other developments. Accordingly, such assumptions may change or may not materialize at all. The forward-looking statements, financial projections and financial targets contained in this Presentation are expressly qualified by this cautionary statement. While the Company and the SPAC may elect to update these forward-looking statements at some point in the future, except as required by law, the Company and the SPAC specifically disclaim any obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. None of the Company, the SPAC or their respective boards of directors, senior management or any of their respective affiliates, advisers, officers, directors or representatives can give any assurance that the financial targets will be realized or that actual results will not vary significantly from the financial targets. This Presentation contains financial, operational, industry and market projections, including financial forecasts for the Company with respect to certain financial results for the Company's fiscal years 2021 through 2023. Neither the Company's nor the SPAC's independent auditors have audited, studied, reviewed, compiled or performed any procedures with respect to the projections for the purpose of their inclusion in this Presentation and no independent auditor has expressed an opinion or provided any other form of assurance with respect thereto for the purpose of this Presentation. Our consolidated financial statements are in the process of being prepared in accordance with IFRS-IASB and audited in accordance with PCAOB standards. Accordingly, our historical financial results and financial forecast information are preliminary and subject to change, which change may be material, based on the completion of our financial closing procedures and any adjustments that may result from the preparation of our financial statements in accordance with IFRS- IASB and completion of the audits of our financial statements in accordance with PCAOB standards. While all financial, operational, industry and market projections, estimates and targets are necessarily speculative, the Company and he SPAC believe that the preparation of prospective financial, operational, industry and market information involves increasingly higher levels of uncertainty the further out the projection, estimate or target extends from the date of preparation. Actual results will differ, and may differ materially, from the results contemplated by the projected financial, operational, industry and market information contained in this Presentation, and the inclusion of such information in this Presentation should not be regarded as a representation by any person that the results reflected in such projections will be achieved. The risk factor titles presented in this Presentation are certain of the risks related to the business of the Company, the SPAC and the Proposed Business Combination, and such list is not exhaustive. The list in this Presentation is qualified in its entirety by disclosures contained in future documents filed or furnished by the Company and the SPAC with the SEC respect to the Proposed Business Combination. Additional Information About the Proposed Business Combination and Where to Find It In connection with the Proposed Business Combination the Company has filed a Registration Statement on Form F-4 with the SEC (as amended or the supplemented through the date hereof, the "Registration Statement"), which includes a proxy statement of SPAC and a prospectus of Allwyn Entertainment AG. Copies of the Registration Statement, the proxy statement/prospectus and all other relevant materials filed or that will be filed with the SEC may be obtained free of charge at the SEC's website at www.sec.gov. Participants in the Solicitation and Addressees The Company and the SPAC and their respective directors, certain of their respective executive officers and other members of management and employees, under SEC rules, may be considered participants in the solicitation of proxies of the SPAC's shareholders in connection with the Proposed Business Combination. This Presentation does not contain all the information that should be considered in the Proposed Business Combination. It is not intended to form any basis of any investment decision or any decision in respect to the Proposed Business Combination. Investors and security holders may obtain more detailed information regarding the names and interests in the Proposed business combination of the SPACS directors and officers in the SPAC's filings with the SEC, including the SPAC's registration statement on Form S-1, which was originally filed with the SEC on July 31, 2020. To the extent that holdings of the SPAC's securities have changed from the amounts reported in the SPAC's registration statement on Form S-1, such changes have been or will be reflected on Statements of Change in Ownership on Form 4 filed with the SEC. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies of the SPAC's stockholders in connection with the Proposed Business Combination. Investors and security holders of the SPAC and the Company are urged to read the proxy statement/prospectus and other relevant documents that will be filed with the SEC carefully and in their entirety when they become available because they will contain important information about the Proposed Business Combination. Investors and security holders will be able to obtain free copies of the proxy statement and other documents containing important information about the SPAC and the Company through the website maintained by the SEC at www.sec.gov. Copies of the documents filed with the SEC by the SPAC can be obtained free of charge by directing a written request to Cohn Robbins Holdings Corp., 1000 N. West Street, Suite 1200, Wilmington, DE 19801. This Presentation does not constitute, or form part of, an offer to sell, or a solicitation of an offer to purchase, any securities in the United States. Any securities referred to herein have not been registered, and will not be registered, under the Securities Act, or under the securities laws of any state or other jurisdiction of the United States. None of the securities can be offered, sold, pledged or otherwise transferred, directly or indirectly, within or into the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. This Presentation does not constitute a "prospectus" within the meaning of the Securities Act. allwyn#4allwyn Welcome to Allwyn's Analyst Day Opening Remarks by KKCG Founder, Karel Komarek e 2000 4 0.fe allwyn#5allwyn#6(O 6 IP Stepan Dlouhy CIO 2 Robert Chvatal CEO allwyn Ales Vesely CEO of Czech Operations Kenneth Morton CFO Natalie Alderson Director R COHN ROBBINS HOLDINGS CORP Gary D. Cohn Co-Founder Clifton S. Robbins Co-Founder#7Today's agenda 7 A B C D 1 2 3 4 5 Introduction to Allwyn Overview and Highlights Lottery Industry Overview Organic Growth Inorganic Growth Financial Overview Management Team Valuation Framework Appendix allwyn#88 A allwyn Introduction to Allwyn#9Allwyn at a glance - A leading lottery operator... 9 1) C23A5 2) Leadership 4) Scale Financial strength (Pro Rata)5 Diversified business (Pro Rata)5 #1 lottery operator across 5 markets¹ €19bn FY21A wagers2 €1,661mm 2022E net gaming revenue (+17% 18A-22E CAGR) Split by product' VLT and casinos Sports betting 9% Source: Company information, Management estimates (subject to material change) Based on market data sourced from H2GC iGaming8 10% 9% FY21A > 71% Lottery Austria Up to 84% surveyed adult population play lottery¹, 3 €751mm 2022E adj. EBITDA (45% margin) Split by geography7 32% Calculated as the aggregate wagers for Allwyn's key operating entities on a 100% basis (SAZKA a.s., OPAP, CASAG, Lottoitalia) Adult population playing lottery in Austria (84%), Czech Republic (73%), Greece (56%), Italy (34%), as of 2019 Population of Austria, Cyprus, Czech Republic, Greece and Italy, as of 2020 Financial forecasts are based on latest management estimates (subject to material change); figures are presented pro rata for Allwyn's economic interest in group operating companies Czech Republic 25% 6) 7) 8) 9) 10) FY21A 27% 16% Greece and Cyprus Italy 91mm population in Allwyn's operating markets¹,4 €638mm 2022E adj. EBITDA - capex (85% cash conversion) Online share (FY21A)' 26% 38% Selected as Preferred Applicant for UK National Lottery⁹ €11bn 2022E lottery wagers¹, 10 67mm Total population¹ UK Selected new markets being targeted €102bn 2022E lottery wagers¹, 10 27% Cash conversion calculated as (Adj. EBITDA - capex) / Adj. EBITDA; capex = acquisition of property, plant and equipment and intangible assets Split based on pro rata gross gaming revenue ("GGR"); amount wagered x payout used as proxy for GGR for Lottoitalia; Lottoitalia's revenue consists of revenue from contract with customers, calculated as 6% of amount wagered 330mm Total population¹ 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 US The award of the UKNL license is currently being contested in a legal challenge. Unless the challenge is successful, Allwyn Entertainment Ltd will be confirmed as the incoming UKNL operator and, subject to a successful period of transition, would become the operator of the UKNL with effect from February 2024 Includes gross wagers for State Lottery lottery-style games only (i.e. excludes VLTS / sportsbetting / offshore lottery) allwyn#10... positioned in a sweet spot of the lottery ecosystem Product and technology suppliers Provide instant game products and systems technology for draw-based games, e.g. powerball SC SCIENTIFIC GAMES intralot POLLARD banknote limited neogames IGT. Technology and services EU National or local government that oversees lottery within a jurisdiction FDJ CAMELOT Government entities Consumer-focused lottery operators Operate lottery on behalf of government, managing brand and point of sale network allwyn Licenses and regulation Caza S STELDE Retail and Online sales Consumers Up to 84% of adult population in certain operating markets¹ 30-and-5 KARTY 2000-20 24219260 SIGN 50000 10 1) Based on H2GC data; Adult population playing lottery in Austria (84%), Czech Republic (73%), Greece (56%), Italy (34%), as of 2019 US 5874 www 1900 The Lottery Corporation POLLARD banknote limited EEEET 315/ Agency agreements Land-based sales Retailers and agents Retailers' kiosks, convenience stores, supermarkets, outlet stores PLAY TODAY ny EXTEFRES MOR CEN GEME ELEVEN PLAY TODAY 00000 PLAY TODAY ve - Walmart PATY Sazka MOBIL allwyn#11Our platform for organic and inorganic growth 11 1 High Performance Teams Local focus supported by international expertise, providing attractive scope for talent growth 2 Innovation Expansion of our lottery games portfolio, iGaming and sports betting allwyn 3 Digitization Transforming our CRM, making games more engaging, relevant, and safe, and registering users 4 Efficiency Digitally and operationally driven 5 Gaming Safety/ESG Pioneering new approaches to the enhancement of safer gaming as an Allwyn-wide global ESG initiative 6 Inorganic Growth Strong track record of acquiring businesses with attractive potential and creating value by improving their performance and applying our operating techniques allwyn#12How Allwyn operates Our platform enables our strategy 12 allwyn Source: Company information Lottery-led platform Local teams #01 Product innovations Operations & Online and digital 75 Product strategy M&A and tenders Scale with suppliers Marketing Tech strategy $4 Regulatory relations allwyn#13Offerings include a broad range of gaming products via physical retail and online channels 13 Lotteries ¡Gaming¹ 2) 3) Sports betting ✓ Product currently offered VLTS and casinos sle $$$ National jackpot game Pan-European jackpot game Fast game Annuity game Other numerical lotteries Instant lotteries Physical retail ✓ ✓ ✓ ✓ n/a Austria ✓ ✓ Online ✓ ✓ ✓ ✓ n/a Czech Republic Physical retail ✓ ✓ ✓ Current Allwyn Offerings n/a Online ✓ ✓ ✓ ✓ ✓ n/a Physical retail ✓ ✓ ✓ n/a Greece and Cyprus² ✓ Online ✓ ✓ ✓ ✓ n/a Physical retail ✓ ✓ n/a Italy Online ✓ ✓ n/a Source: Company information 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 Data not reflective of Allwyn ownership/presence and is specific to the UKNL. Allwyn has been selected as Preferred Applicant for UK National Lottery. The award of the UKNL license is currently being contested in a legal challenge. Unless the challenge is successful, Allwyn Entertainment Ltd will be confirmed as the incoming UKNL operator and, subject to a successful period of transition, would become the operator of the UKNL with effect from February 2024. UKNL Assets³ United Kingdom³ Physical retail ✓ ✓ ✓ ✓ ✓ Online ✓ allwyn#14Our vision for 2025 - bringing the excitement of winning to everyday life 14 Proposition Content Channels Reach Technology Source: Company information 2022 to date A leading lottery-led gaming entertainment platform Online casino Lottery VLTS Ancillary services 5 Sports betting Casino Rapidly growing online channel and data-driven CRM European countries Control over tech stack through combination of in-house and third-party technologies 2025E Digital-focused gaming entertainment platform, built on lottery iLottery iGaming VLTS Lottery Sports betting Ancillary services Omni-channel with fully digitalized retail 5 existing countries + plans for UK + US + further global expansion Increasingly proprietary tech stack allwyn#15Significant strategic progress already achieved since transaction announcement Enter New Markets Organic Growth Inorganic Growth 15 What We Said We Would Do... January 2022 3) Pursue Attractive Opportunities to Expand in the US and Untapped European Markets Digital-led Organic Growth Continued Focus on Building Stakes in Existing Businesses ●●● What We Have Achieved Already June 2022 Named Preferred Bidder of the UK National Lottery¹ Historically worth an estimated €165m in annual EBITDA² Record-High Online Active Players On track for 24% organic NGR growth in 2022 €327m Stake Acquisition in OPAP Increasing Allwyn's economic interest from 41.2% to 48.2% - at an accretive 6.5x 2022E EBITDA multiple ³ Source: Company information, UK Gambling Commission 1) The award of the UKNL license is currently being contested in a legal challenge. Unless the challenge is successful, Allwyn Entertainment Ltd will be confirmed as the incoming UKNL operator and, subject to a successful period of transition, would become the operator of the UKNL with effect from February 2024. Based on Camelot annual report for the year ended 31-Mar-21, c.£140mm EBITDA converted to € at spot rate of 1.18 EUR per GBP, sourced from CapIQ, as of 27-May-22 Deal multiple based on €327mm purchase price and OPAP €50m pro rata EBITDA, based on 6.9% stake of OPAP FY22 EBITDA management guidance of €720 to €740mm allwyn#1616 B allwyn Overview and Highlights#17Allwyn's key investment highlights allwyn YOU WIN! 9 52 1 65 49 44 80 P22 AXA Lottery C ***S 1 5 17 1) Global lottery sales, sourced from H2GC Operates in ~$300bn¹ global lottery industry, which is poised for growth through increased digitization 2 4 3 Strong organic growth driven by data analytics, cross-selling, and growing online customer base Successful M&A track record with attractive opportunities for expansion in new markets Highly cash generative business, making funding available for organic and inorganic growth (e.g. M&A opportunities) Experienced board and management team with long industry track record allwyn#1818 01 allwyn Lottery Industry Overview#19Lottery: a ~$300bn global industry Consumer spend on lottery grew at a 4.3% CAGR over the last 16 years, and from 21A-25E is expected to grow at a 6.0% CAGR driven by expected continued growth of digital lottery Global annual lottery wagers ($bn)¹ $ 163 115 47 2005A $ 204 $297 130 71 2010A $255 159 89 2015A $146 7 $268 167 93 2016A 05A-21A CAGR 4.3% 9 $ 273 $74 168 95 2017A The largest constituent of the global gaming ecosystem... Global sales / wagers (2019A) ($bn) (¹) 10 $ 286 175 99 2018A $23 12 iGaming $ 297 176 ■ Instant Games and Other 105 2019A 15 $295 166 107 2020A 21 $321 167 Online Penetration (%) 128 2021A ▪ Draw-Based Games 05A-21A CAGR (%) 26 ■ 22.1% 2.4% 6.4% iLottery 6.5% $15. $347 31 iLottery 2019A 175 140 2022E 19A-25E CAGR 20.7% 21A-25E CAGR 6.0% [ottery Casino Sports Betting 19 Source: H2GC. EUR:USD spot rate of 1.07 applied, sourced from CapIQ, as of 27-May-22 Note: Lottery wagers include State Lottery style games only, and do not include VLTS; Lottery wagers assume historical and projected global iLottery payout ratio of ~60%. iLottery is excluded from Instant Games and Other and Draw-Based Games based on 2020A percentage of total Assumes historical and projected global iLottery payout ratio of -60%. 2021 figures for iLottery based on projections from H2GC, instant games and other and draw-based games based on actuals $367 36 184 147 ...With significant potential for increased online penetration iLottery Wagers ($m) 2023E $385 42 190 154 2024E 13.7% $48 iLottery 2025E $405 48 196 161 2025E 21A-25E CAGR (%) 1 16.3% 4.2% 5.8% allwyn#20Appealing characteristics of lottery drive high participation Lottery appeals to wide range of demographics, creating strong basis for cross-selling Lottery product characteristics... Life-changing wins Positive public perception Location + experience-based entertainment + Favorable industry features relative to other gaming segments ♡ Clear and stable regulatory environment Personalized content = ? Winner- takes-all characteristics Strong basis for cross-selling LA Low cost product Strong trusted brands ... Enable high participation across market populations... % adult population playing lottery¹ By Country Austria 84% Czech Republic 73% 47% Source: H2GC, UK DCMS Taking Part Survey (2020) 20 Data as of 2019, except United Kingdom based on 2020, sourced from H2GC 2) Allwyn has been selected as Preferred Applicant for UK National Lottery. The award of the UKNL license is currently being contested in a legal challenge. Unless the challenge is successful, Allwyn Entertainment Ltd will be confirmed as the incoming UKNL operator and, subject to a successful period of transition, would become the operator of the UKNL with effect from February 2024. In certain European jurisdictions; based on UK DCMS Taking Part Survey conducted in the UK # 北 Greece 56% United Kingdom² 44% And is popular among surveyed men and women³ % of men who play I 1 Italy 34% % of women who play 41% 1 allwyn#21Lotteries benefit from a relatively favorable public and regulatory perception, reflecting their differentiating characteristics¹ 21 Public perception Penetration rates Regulation Gaming Profile Lottery ✓ More acceptable, socially responsible Major contributor to good causes ✓ High across population groups with lower stakes Well established regulatory framework Long-term regulatory relationships ✔ Long-term licenses ✓ Few established operators ✓ Safer gaming profile ✓ Infrequent paybacks 1) Based on data sourced from the Lithuanian Lottery Association and the Projektbericht Research Report ■ ■ Other Gaming Greater regulatory and public scrutiny More negative perception of other types of gaming Typically niche with higher stakes Varying regulatory regimes, some underdeveloped Numerous operators High frequency gaming events Frequent near-wins to incentivize players 1 allwyn#22Lottery's characteristics contribute to sector resilience With advantageous attributes relative to other gaming segments Easily accessed at local retailers and digitally Low-cost product Evergreen, Mass-market Appeal Potential life- changing wins Popular amongst surveyed men and women¹ Performance during the Global Financial Crisis (08A-09A): YOY growth (%) 4.2% Lottery (0.7%) (1.5%) Lottery Casino Performance during COVID-19 (19A-20A): YOY growth (%) (4.6%) GDP (2.8%) Sports Betting 22 Source: H2GC, World Bank Note: Lottery wagers include State Lottery style games only, and do not include VLTS, Sportsbetting; Casino, Sports Betting and iGaming figures represent gross win; GDP growth rates based on World Bank data for OECD countries only; Lottery wagers assume historical and projected global iLottery payout ratio of ~60%. iLottery is excluded from Instant Games and Other and Draw-Based Games based on 2020A percentage of total 1) In certain European jurisdictions; based on UK DCMS Taking Part Survey conducted in the UK (9.7%) Sports Betting (3.3%) GDP (39.9%) 1 Casino allwyn#23... With upside potential from increasing online penetration Potential to increase online lottery penetration in Allwyn's markets, based on trends in other developed countries' global sports betting and lottery markets Global sports betting NGR ($bn) $18 5 13 2010A 49% + Finland $28 9 19 23 Source: H2GC 2015A $31 10 21 2016A 36% $34 12 Denmark 22 2017A 32% ** $41 14 UK 27 2018A $42 16 26 Further growth and profitability upside from increasing online penetration Share of online lottery GGR 2021E (%) 2019A Land-based NGR $37 18% 20 17 2020A Online NGR Czech Republic Allwyn operating markets 16% $49 EU 26 23 $61 31 2021E - Online penetration (%) 30 2022E 13% Greece $67 36 32 2023E License tender process ongoing $74 40 34 2024E 11% Austria $79 44 35 2025E 57% 5% $84 US 48 36 2026E Potential upside CAGR (%) 10A-21E 9.3% Sports betting online penetration 2026E: 57% 15.9% 5.1% 3% 1 22E-26E 8.2% 11.2% 4.8% Italy allwyn#24Online lottery grows total wagers in markets where it has been introduced Online lottery generally expands total market size and does not cannibalize the retail lottery market's growth European retail and digital lottery wagers¹ +26% Total growth 1) 2) +500% Digital growth growth ili 2015A O France +7% Total growth 2019A +47% Digital 2015A UK 2019A +32% Total growth +164% Digital growth Source: H2GC 24 Note: Scaled to reflect 2015A total wagers within each country Digital increase calculated as growth in digital wagers from 2015A - 2019A, as a percentage of digital wagers for 2015A No data for Czech 2015A digital 2015A O Ireland Retail wagers 2019A Digital wagers +36% Total growth +88% Digital growth 2015A 1₁1 Hungary +68% Total growth 2019A 2015A 2019A Czech Republic 1 allwyn#25The iLottery market is still underdeveloped and has an attractive growth outlook iLottery GGR¹ expected to grow at a significantly faster pace than total online gaming GGR 25 Austria GGR CAGR (2021-25E) 15.8% 10.7% Source: H2GC, 2021 (1) Gross gaming revenue as defined by H2GC Czech Republic 17.0% 8.1% Greece and Cyprus 25.5% iLottery Italy 25.3% LL 8.1% 8.2% Total online gaming United Kingdom 7.5% 6.6% 1 allwyn#26Incumbents enjoy advantages in license renewals Lotteries, by their nature, have certain characteristics that create strong barriers to entry Governments need proven trusted partners | Responsible gaming credentials and corporate reputation are a must 26 Brand ownership is critical in many markets Exclusive long-term concession create deep relationships with regulators and other stakeholders, as well as strong market knowledge Relatively few peers given industry structure 1 allwyn#27Q&A 27 allwyn#2828 02 allwyn Organic Growth#29Three pillars of organic growth 29 1 Retail Lottery ✓ Product innovation ✓ De-anonymization through customer registration ✓ New product launches allwyn 2 Digital Lottery ✓ New users ✓ Grow customer spend ✓ Product innovation 3 Cross Sell ✓ Build on trusted brands, lottery customer base and channels ✓ New product launches ✓iCasino and Sportsbook current focus 2 allwyn#30Innovation and de-anonymization drives steady growth in physical retail ● ● 30 Sales through physical retail remain strong when not impacted by COVID-19 restrictions, demonstrating that online growth does not cannibalize physical retail sales Allwyn has been rapidly de-anonymizing its retail customer base through loyalty programmes for physical retail customers Gathering more data about customers allows us to implement enhanced player protection measures 123 Austria GGR (Physical Retail Channel) ¹,2 (€m) 83% 169 84% 52 81% 148 90% 396 Q1 2019 Financials based on management accounts Does not include casinos and sports betting operated under Tipp3 brand Including Stoiximan for all periods for comparability 82% 83% Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 55 183 Czech Republic GGR (Physical Retail Channel) (cm) 89% 381 78% 82% 56 178 88% 387 80% 69 80% 161 87% 440 Q2 2019 Q3 2019 Q4 2019 Retail share of total GGR (%) 74% Greece and Cyprus GGR (Physical Retail Channel) 1,3 (€m) 57 75% Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 143 83% 327 Q1 2020 68% 45 76% 172 78% Q2 2020 165 Q3 2020 68% 51 83% 379 Q3 2020 76% 179 Q4 2020 68% 65 Q4 2020 61% 171 Q4 2020 75% 186 Q1 2021 64% 61 Q1 2021 30% 52 Q1 2021 73% 149 Q2 2021 62% 63 Q2 2021 73% 287 Q2 2021 75% 153 Q3 2021 61% 59 Q3 2021 79% 373 Q3 2021 74% 183 Q4 2021 62% 71 Q4 2021 82% 388 Q4 2021 +3% vs Q4 2019 +3% vs Q4 2019 (12%) vs Q4 2019 Some impact on Q4-21 from COVID-19 restrictions 2 allwyn#31Growing de-anonymized lottery share in physical retail Physical retail loyalty program launched in 2017 in Czech Republic ● • New proposition "Wheel of Fortune" with second chance to win launched in August 2020 with the goal of increasing loyalty usage and enhancing the customer's perception of winnability ● ● The loyalty program counted 300,000 active customers in 2021, covering 23% of draw- based games turnover Trend expected to continue in 2022, with further increase in share of de-anonymized spend expected Using prior experience in Greece and Cyprus by successfully introducing loyalty rewards, growing the registered loyalty customer base by 240% within 1 year 31 Source: Company information # g Czech Republic case study: de-anonymized lottery share (%) 4% 2017A 202 Pre-launch 7% 246 2018A Greece and Cyprus case study: evolution of registered customer base ('000) Apr 2021 355 13% Jun 2021 2019A 463 17% Sep 2021 2020A 599 Dec 2021 23% 2021A 687 Mar 2022 2 allwyn#32Cross-sell, new customers, and data drives online growth Strong online momentum continued in 2021, including sales of lottery products through online channel and iGaming • Online growth supported by: 32 New users Cross-selling, highlighting brands, website and app traffic from lottery players Acquisition of leading online player in Greece, Stoiximan (consolidated from December 2020) Austria GGR (Online Channel) ¹,2 17% 35 16% 10 Q1 2019 10% 46 19% Q1 2019 34 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Czech Republic GGR (Online Channel) New product launches Financials based on management accounts Does not include casinos and sports betting operated under Tipp3 brand Including Stoiximan for all periods for comparability 18% 12 17% 39 11% 48 22% 16 12% 18% 55 39 Greece and Cyprus GGR (Online Channel) ¹,3 Q2 2019 Q3 2019 Share of total GGR (%) 20% 17 20% 13% 40 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 64 Q4 2019 26% 20 17% 69 25% Q1 2020 48 Q2 2020 32% 22 24% 55 22% 47 Q3 2020 32% 24 Q3 2020 17% 77 Q2 2020 Q3 2020 24% 55 Q4 2020 32% 31 Q4 2020 39% 108 Q4 2020 25% 61 Q1 2021 36% 35 Q1 2021 70% 123 Q1 2021 27% 54 Q2 2021 38% 39 Q2 2021 27% 106 Q2 2021 25% 52 Q3 2021 39% 38 Q3 2021 21% 97 Q3 2021 26% 63 Q4 2021 38% 43 Q4 2021 18% 85 Q4 2021 +61% vs Q4 2019 +157% vs Q4 2019 +32% vs Q4 2019 2 allwyn#33Rapid growth in online customer base Allwyn has almost doubled online customers over the last two years Average monthly active online customers per quarter (000)¹ 426 Q4- 19A allwyn +48% CAGR 620 Q4- 20A 934 Q4- 21A Austria 168 Q4- 19A +29% CAGR 194 Q4- 20A 281 Q4- 21A 105 Q4- 19A Czech Republic +54% CAGR 169 Q4- 20A 247 Q4- 21A Greece and Cyprus 153 Q4- 19A +63% CAGR 257 Q4- 20A Source: Company information 33 F-4 numbers be updated Q4 Note: Average monthly active online customers are customers with at least one online purchase made on a particular gaming platform during a given month. Data for Austria is based on players for OLG and tipp3, for Czech Republic on SAZKA a.s., for Greece and Cyprus OPAP and Stoiximan 406 2 Q4- 21A allwyn#34Platform to cross-sell customers Allwyn's customer base, brands, data and wide product offerings drive growing revenues by cohort Cross-selling initiatives > Increase number of games 34 B SCRATCH 52 52 Lottery > Loyalty programmes eScratch > Gamification Expected results² ↑ 1) 2) ARPU Churn Rates YOU W N! 1.000.000 ↑ ¡Gaming Sportsbook LTV Average CAC Source: Company information Based on aggregate online GGR across all products offered in Çzech Republic Based on management estimates (subject to material change) Czech Republic internal case study¹: GGR per player cohort and YoY growth (%) 2017A 2017 Cohort 2018A +81% CAGR +39% 2018 Cohort 2019A +52% +22% 2019 Cohort 2020A +60% 2020 Cohort +18% +21% 2021A 2021 Cohort +46% +2% +8% +21% 2 allwyn#35Supported by the strength of our trusted brands ...... 35 68 Key brands 1) 2) Unaided brand awareness Numerical lotteries Instant lotteries Sports betting ¡Gaming Gaming arcades Source: Company information, H2GC For OPAP Used under license Austria 2 Österreichische LOTTERIEN EURO MILLIONEN 87% RUBBEL LOS! 2 JOKER Win2day win2day LOTTO WINWIN tipp3 Win2day BRIEF LOS Czech Republic Sazka sportka Sazka EURO JACKPOT 78% 2 Sazka SLOSY Sazka 10 EXITOS PENTA BET Sazka HRY n/a Sazka HRY Greece and Cyprus opap Stoiximan 100%¹ KINO TOKED 0000000 come ERPATE pome Stoixima Stoiximan 2 Stoixima Stoiximan play Italy IL GIOCO DEL LOTTO 81% 2 10 IL GIOCO DEL WA 2 LOTTO' Million DAY LOTTO 2 n/a n/a n/a 10 n/a LOTTO 2 allwyn#36Product launches and innovation across physical retail and online channels Continuing to expand and improve product offering, user experience, and technology - selected innovations in 2021 and 2022 YTD 36 4 New and revitalized products / experiences Nur am Freitag, den 13. Fr & LOTTERIEN Spiele nt Veruntung E info ina Anand ww. Skupinové sázení SKUPINOVÉ SÁZKY opap onan 2:36 000000 000000 9 -100.000€ FIRA PEA MEA Mit 1 Mio. . Euro extra! L Alles ist miglich, LOTTO PŘIHLÁSIT LY BE NEW special event draws NEW group play feature NEW annuity jackpot game NEW OPAP Store App NEW Powerspin game features NEW Physical retail locations New technology and user interface STOIXIMAN GR NEW in-house sports-betting platform NEW sports-betting app enhancements NEW iGaming app tournaments integration Digitalizing physical retail NEW retail loyalty plan NEW beacons feature promotes in-store play via mobile 2 NEW POS terminals, introducing digital signage and enabling personalized marketing allwyn#37Czech case study: From distressed asset to high performer GGR evolution since Allwyn ownership (€m¹) 37 ● Czech Republic 121 2012 140 2013 2013-15 "Fix the basics" 150 2014 Renewed focus on customers and in building strong brands and positioning Extensive company transformation mainly in marketing / sales / product and technology New products - Eurojackpot, Sportka extra draws, new scratches, new daily keno games Source: Company information (1) Converted from CZK to EUR at average FX rate for each respective year 181 2015 ● ● 192 2016 - 2016-19 206 2017 Launch of new gaming verticals: "Brick & Click" Company Launch of online offering - Digital Entertainment Hub 251 SAZKA Games (online casino) Online scratches (pool games) 2018 Free to play SAZKA Fantasy New sportsbook platform focusing on live betting / online Physical retail customers de-anonymization, focusing on customer loyalty - SAZKA Club roll out ● ● 286 2019 315 2020 2020-22+ 408 SAZKA 2.0 - "Digital Future" - 2021 More playful and entertaining SAZKA brand Significant portfolio extension own and bespoke games Roll-out of a new physical retail format Internal development Roll-out of next generation central lottery system (2020+) incl. new IGT contract 2 allwyn#38Czech case study: Strong online growth without retail cannibalization 38 Online Registree z bona 200 Retail RAKENE D 269 MILIONO NA NOTY 12713 Source: Company information Strong online growth through increased customers value and loyalty ● ● ● Continuing acquisition focus - registration of new customers Increasing number of games / new gaming verticals Gamification, user experience and real-time data-driven marketing Cross-selling initiatives based on customers profile "Knowing your customer” in retail – Allwyn continues to de- anonymize its customer base ● Retail loyalty club to de-anonymize customers • Gamification initiatives to increase winning experience and frequency of visits at POS Higher share of proactive and targeted sales at POS +181% GGR growth from 2019 to 2021 45% Online share of total GGR as of Q2 2022 +10% GGR growth from 2019 to 2021 23% share of de-anonymized sales in retail in 2021 2 allwyn#39Czech case study: innovation, gamification and cross-sell drive steady growth in online Key online growth drivers Cik-Kava Limonada www Sooooou TA ZÜSTATE: 16490542 39 CENA LOS: 20 Ukoly ke spinni a Vánočni pohoda VŠECHNY LOSY → Viherm Symboly Vide Symbol Spiněný kol 180 Setřít VYTVORT DOET Tvůj úkol pro dnešni den Zahrajother 2 fody me pakrovite keren news split Four Fruits Reel Rush BerryBurst Fruit Shop Fruit Friends Lze spinit opakovaně PRIHLASIT MATYSEK VYZKOUŠEJTE NOVINKU! Source: Company information Portfolio Innovation Exclusive games designed by Sazka, bespoke games, local themes customization • New gaming verticals, Fantasy and E-sport to attract young audience Gamification Gamification propositions across all gaming verticals • Fast market deployment powered by internal loyalty platform Cross-sell Predictive modelling to identify cross sell potential • Innovative user interface and web analytics - Be where customer attention is +181% GGR growth from 2019 to 2021 2 allwyn#40Czech case study: iLottery retention and frequency is driven by gamification Making iLottery more playful and entertaining - because the most frequent experience is non-winning Gamification proposition 'Golden Wheel' provides customers with a second chance to win a small prize 40 Has improved gaming experience and increased frequency of bets ✔ Quick and massive adoption by iLottery customers 47% of active customers participating¹ Source: Company information (1) Data reflects last 6 months 17% increase in customer Spend¹ 13:57 0. www.sazka.cz/zlate-kolo/odmeny ! Zlaté kolo Roztočte každý den Zlaté kolo a múžete vyhrát až 100 000 Kč! 0 met ZA SAING 20 Kč 2. Zlataky VENUS K VERSENY 60 Kč 50 Kč ROZTOČIT ZLATÉ KOLO Zlatak ww 100 K O 100 Kč 350 Kč MICHAL Prihlásen 0:59 8038 eliz! CHR Stav konta: 10 z 10 Zlatáků Máte plný počet Zlatákü! Tak neváhejte a roztočte Zlaté kolo! O 2 allwyn#41Czech case study: Cross-sell delivering 9% of online monthly GGR driving the growth 41 9% Of online monthly GGR ¹ One stop shopping approach - all game verticals under sazka.cz umbrella Maxi Černá perla Hlavní výhra 10 000 000 Kč Special user experience “floating fish" on Sazka home page Source: Company information (1) Data as of May 2022 Example: Cross-selling of iLottery players into eScratches Super Rentiér 5 let měsíční renta 100 000 Kč 300% Increase of customer spend since 2017¹ Splním vám přání? Může být až za 50 000 Kč. 1.4 products played by customer on average ¹ ✔90% increase of active players base during the promo ✔ 25% of active players were first time players ✔ 15% increase in customer spend 2 allwyn#42Czech case study: Well-known brand, innovation and de-anonymization drives steady growth in retail 42 Anonymous customer Registered customer Source: Company information sazxa SAZKA- Brand / appealing promotions • Mass market communication to attract regular and occasional players ● • Raffle promotions and event based draws to be not depended on jackpot level Driving extra traffic to POS and online Loyalty club benefits and promotions Gathering customer data and behavior Increasing the loyalty usage and frequency of visit at POS Targeted communication and sales SAZKA KLUB SILVESTROVSKÁ PREMIE JEN PRO CESKE SAZENICI 28 12 TV, print, online Email / text 4 SILVESTROVSKÁ PRÉMIE JEN PRO ČESKÉ SÁZEJÍCÍ S PLNÝM TIKETEM Losujeme 28. prosince denga SAZKA a.s. OS: Pouze sazejici v CR hraji v patek s plnym tiketem Eurojackpotu = 475%#9:02 ODSTRANIT trovskou i. Ve ou tri 3 ionove Stund Zakončete rok 2018 pořádnou výhrou! de Dempienste he Jane do tep 3 pipebe bu pri vy na kotomis štici pri tyLand Rove 4 Land y. Sazka 854 LUXUSNÍ BYTY V PRAZE LAND EURO JACKPOT Mobile SAZKA KLUB ZATOČTE SI KOLEM A VYHRAJTE KOLO 20 Kč 100 000 K ZATOČIT KOLEM 100 000 K STESTI 100 000 Kč HOZZ 2 000 001 13 09 2 allwyn#43High structural barriers to entry Significant advantages for incumbents when licenses are up for renewal, creating deep competitive moat for Allwyn Current Allwyn Assets UKNL Assets¹ Brands owned by Allwyn X Established POS network³ A Exclusive licenses/ Dominant position Market Share6 Long-term lottery concessions (Length including extensions) Established relationships (Years in operation) 43 CASINOS AUSTRIA 2) Das Elebnis Austria tipp3 LOTTO 5,100 One per 1,745 pop. 100% lotteries, casino and on-line lotteries / casino market share 15 years 36 years Czech Republic sportka sazka BET Sazka 12,500 One per 856 pop. 5 94% numerical lotteries 86% instant-win games (100% market share in jackpot lotteries) N/A Source: Company information 1) Selected as Preferred Applicant for UK National Lottery. The award of the UKNL license is currently being contested in a legal challenge. Unless the challenge is successful, Allwyn Entertainment Ltd will be confirmed as the incoming UKNL operator and, subject to a successful period of transition, would become the operator of the UKNL with effect from February 2024. Data not reflective of Allwyn ownership/presence and is specific to the UKNL OPAP and Stoiximan brands owned; some game brands owned by the Greek state 66 years Sazka 3) 4) 5 6) 7) Some Greece and Cyprus 2 opap Stoiximan 13,000 One per 892 pop. 100% numerical lotteries 100% instant lotteries 30 years 64 years Italy Owned by the regulator Population data sourced from H2GC Based on Camelot's disclosed retail partners Based on 100% market share in jackpot lotteries as per Company data GIOCO DEL LOTTO 33,600 One per 1,792 pop. 79% numerical lotteries 100% in fixed odds 9 years 29 years All figures as per GGR 2020 for legal market with market size as per H2GC Oct-21 data. Figures for LOTTOITALIA market share are based on wagers Based on UK National Lottery + United Kingdom N/A 44,0004 One per 1,525 pop. 85% numerical lotteries7 10 years N/A Total / Average 64,200 (excl. UK) One per 1,424 pop. 18 years (excl. UK) 2 49 years allwyn#44The gaming industry is highly regulated Not only are licenses required for gaming operations in each operational jurisdiction, but the scope of regulations is broad and includes for example: types of games, maximum bets, channels of distribution and marketing, taxation etc. ✔✔ Management and boards are also subject to very onerous probity tests and a high level of security and disclosure ✔✔ Allwyn holds all required licenses for its games offered across its jurisdictions, with majority of lottery licenses up for renewal between 2025 and 2030 The incumbent usually has a significant advantage when it comes to renewal: Allwyn has a 100% track record of license renewal. In some cases, there is an upfront license payment. However, the gaming tax payments and good causes contributions paid during the license tenure by far exceed any fees paid upfront. Allwyn believes a strong operator, able to grow gaming revenues, is the most important criteria for governments when selecting an operator 2 44 1 Disruption of operations in the case of change of operator Risks of performance/business plan of a new operator without prior track record in the specific country/segment 3 In some cases, the ownership of brands, distribution network, and other infrastructure are also barriers of entry 2 allwyn#45Our technology and supply strategy is a combination of in-house control of key strategic elements and third party technologies Strategic focus on standardization / centralization of key technologies and leveraging purchasing power Czech Republic 3rd Party technology 000 000 45 C TO $$$ Lottery Central System Terminals Scratchcards Sport Retail Sport Online PAM, Wallet iGaming iLottery Content/ Games VLT Central System VLT Central Machines Horse Racing Source: Company information. Austria In-House In-House 3rd Party In-House In-House In-House In-House In-House 3rd Party 3rd Party 3rd Party n.a. 3rd Party 3rd Party 3rd Party n.a. 3rd Party 3rd Party 3rd Party 3rd Party 3rd Party n.a. n.a. n.a. Greece and Cyprus 3rd Party (OPAP) In-House (OPAP) 3rd Party (OPAP) 3rd Party (OPAP) 3rd Party and In-House (OPAP) In-House (OPAP and Stoiximan) 3rd Party and In-House (OPAP) n.a. 3rd Party (OPAP) In-House (Stoiximan) 3rd Party (OPAP and Stoiximan) 3rd Party (OPAP) 3rd Party (OPAP) In-House (Stoiximan) IGT SBTech we know sports KEBA INSPIRED ESSENTIAL ENTERTAINMENT SYNOT SOURCE OF SUCCESS SCI SCIENTIFIC GAMES neogames intralot ¡BASE Every Matrix 2 allwyn#46Allwyn embraces ESG pillars-making play better for all E S G Targets and actions • Head office designed in accordance with LEED Gold certificate criteria • Management ambitions and actions towards optimizing energy consumption and improving overall energy efficiency in all operating companies ● ● Responsible gaming: a core Allwyn value - All entities offering lottery games awarded the highest responsible gaming certifications issued by the World Lottery Association¹ - Austrian business² is the first gaming company worldwide to obtain certification according to the Responsible Gaming Standards by the European Casino Association - Annual responsible gaming training for retail partners Strong philanthropic profile Austrian Lotteries business provides €80mm in sports funding annually "PCs for all" campaign, providing computers to underprivileged families Founded key initiatives in its local communities during the onset of the COVID-19 pandemic - • Commitment to gender equity: 20% of board of directors and 40% of senior management are women Equal opportunities for employees creating an diverse and including environment Merit-based opportunities without regard to gender, age, sexuality, disability, race, religion and more Sources: Company reporting 2021 and 2020, Sustainalytics as of 11-Feb-2022 46 1) For Lottoltalia, certification is held by our partner, IGT Lottery S.p.A. 2) Achievements and memberships Key sponsor GAMBLING COMPLIANCE GLOBAL VIXIOREGULATORY AWARDS 2020 ESG rating based on Sustainalytics ESG Risk Rating Report for Allwyn International as of November 2021. In 2014 Casinos Austria was the first company worldwide to boast a responsible gaming management system that was certified to European Casino Association (ECA) standards Member THE EUROPEAN LOTTERIES Certified U.S. BU EEN GREE NG COUNCIL LEED GOLD USGBC ESG ratings ² 2020 Lottery operator of the year CORE E GAMING INTE Member; level 4 certification PLEASE PLAY ESG Risk Rating 24.3 Risk GIA. 2020/ AWARDS WLA WORLD LOTTERY ASSOCIATION RESPONSIBLY SUSTAINALYTICS Negligible Low Medium High 0-10 10-20 20-30 30-40 ELLIGE Medium Certified Severe 40+ EUROPEAN CASINO ASSOCIATION 2 allwyn#47ESG initiatives some examples 47 allwyn Source: Company information Czech Republic Austria Supporting communities Greece and Cyprus ● ● Supporting sport CZE Long term supporter of the Czech Olympic team Supporting culture Partner of the Wiener Festwochen multidisciplinary arts festival since 1968 Supporting health Supporting the renovation of the oldest and largest children's hospitals since 2014 Customer focused safety initiatives ● ● Promoting responsible gaming ● Providing training for retail partners All new Austrian Lotteries retail partners are required to complete a Responsible Gaming Basic Training course prior to commencement of their contract Play wisely, a project launched by SAZKA, informs, allows self-testing and gives advice to players regarding responsible gambling (e.g. limits) with tutorials and explanations ● SAZKA also offer self-exclusion, where the customer can request termination no earlier than one year after self-exclusion is requested Additionally, all retail partners receive face- to-face responsible gaming training at least once a year Protecting players with time and stake limits Only customers who have set up a gaming card and set a self-imposed limit on time and money spent are allowed to play in OPAP'S PLAY Stores, with a maximum bet per spin of €2 for all games conducted via Video Lottery Terminals 2 allwyn#48Q&A 48 allwyn#4949 03 Inorganic Growth allwyn#50Buy and build track record Demonstrated ability to expand platform through incremental M&A Initial market entry Sazka Czech Republic Select M&A activity 50 2012A Acquisition of a 50% stake in SAZKA a.s. (2011) 2013A Acquisition of remaining 50% stake in SAZKA a.s. орар Greece and Cyprus 4 Xopap Privatisation of 33.0% stake in OPAP 2014A CASINOS AUSTRIA Acquisition of indirect 11.3% stake in CASAG 2 Österreichische LOTTERIEN CASINOS AUSTRIA Austria 2015A LOTTOITALIA Successful tender of 32.5% Lottoltalia New acquisition / license at tender 2016A 2 Österreichische LOTTERIEN Acquisition of indirect 11.6% LOTTOITALIA Italy stake in Austrian Lotteries 2017A CASINOS AUSTRIA Acquisition of additional 22.7% indirect stake in CASAG Increase in stake Super Sport Acquisition of 67% stake in SuperSport Stoiximan Greece and Cyprus 2018A Stoiximan BETANO Acquisition of 36.8% stake in Stoiximan and Betano 2019A SuperSport Sale plus monetary contributions for 25% stake in SAZKA Group 2020A CASINOS AUSTRIA Xopap Acquisition of additional 6.9% indirect stake in OPAP Acquisition of additional 17.2% stake in CASAG Source: Company information 1) UK National Lottery. The award of the UKNL license is currently being contested in a legal challenge. Unless the challenge is successful, Allwyn Entertainment Ltd will be confirmed as the incoming UKNL operator and, subject to a successful period of transition, would become the operator of the UKNL with effect from February 2024 Stoiximan Acquisition of 47.7% stake in Greek and Cypriot operations UK National Lottery¹ (Preferred Applicant) 北 kaizen BETANO Acquisition of 36.75% stake in Kaizen outside Greece and Cyprus 2021A 3 UK National Lottery¹ Selected as the Preferred Applicant for the 4th National Lottery license YTD-22A allwyn#51Attractive opportunities to expand in the US and untapped European markets Allwyn is a scaled operator with opportunities to take business model to new markets Current European operating markets Key European opportunities 51 €28bn 2022E wagers¹ AT CZ GR&CY IT allwyn operating markets €13bn 2022E wagers¹ €95 UK NL EU Source: H2GC 1) Lottery market wagers as of 2022E; includes gross wagers for State Lottery lottery-style games only (i.e. excludes VLTS / Sportsbetting / Offshore Lottery) US opportunities €88bn 2022E wagers¹ US New market opportunities 3 Lottery license tenders and privatizations Increasing stakes in existing businesses M&A opportunities Disciplined and selective approach allwyn#52Lottery tenders and M&A: successful two-pronged approach to inorganic growth Lotteries, by their nature, have certain characteristics that create strong barriers to entry Lottery license tenders Strategic M&A growth 1 2 3 Allwyn bidding team ambitiously targets lottery tenders Differentiating B2C-led skillset 52 Significant track record High success rate ● Dedicated in-house team specialized in bidding on large scale lottery contract tenders • Combining Allwyn expertise with local market knowledge Broad skillset crucial for success ● Allwyn participated in multiple major European lottery operating license tenders organized in last 10 years Turkey (2014, 2019) O Italy (2016, 2019) UK (2022¹) Success in 2 out of 5 major European lottery tenders Allwyn has participated in (40% success rate) Wins: Italian Lotto and UK¹ ● Lost tenders: disciplined approach, focus on value creation not reckless bidding 1 2 Based on sound, disciplined investment principles Investment criteria & focus areas Investment approach Source: Company information, UK Gambling Commission 1) The award of the UKNL license is currently being contested in a legal challenge. Unless the challenge is successful, Allwyn Entertainment Ltd will be confirmed as the incoming UKNL operator and, subject to a successful period of transition, would become the operator of the UKNL with effect from February 2024. . Strategic fit • Focus on lottery and digital gaming Control over cash flows and strong governance rights Investment return Geography: EU and potentially US Regulated operations ● 3 Dedicated investment team focused on M&A opportunities • Proactive market screening for opportunities Disciplined selective approach to new market expansion Focus on targets where Allwyn can add value by active management: • Driving revenue growth • Improving operating margins Prudent adherence to investment principles allwyn#53Allwyn has a differentiated position in the lottery competitive landscape Structure of global lottery market creates favorable competitive dynamics for Allwyn with competitors having limited B2C expansion track record 53 State-owned lotteries B2B technology suppliers Publicly listed domestic champions Diversified multi- national B2C Source: Company information. (1) Finland national lottery (2) Netherlands national lottery (3) Spain national lottery (4) California state lottery VEIKKAUS 1 SCI SCIENTIFIC GAMES 2 NEDERLANDSE ² LOTERIJ FDJ IGT. LOTERÍAS YAPUESTAS DEL ESTADO 3 Intralot calottery The Lottery Corporation 4 NEW YORK LOTTERY neogames 3 allwyn Allwyn has a differentiated position in the lottery space as a diversified multi-national B2C-focused lottery business with a successful expansion track record allwyn#5454 After a 2-year comprehensive process allwyn Selected as Preferred Applicant For UK National Lottery License Tender¹ in March 2022 * +4 Source: Company information, UK Gambling Commission 1) The award of the UKNL license is currently being contested in a legal challenge. Unless the challenge is successful, Allwyn Entertainment Ltd will be confirmed as the incoming UKNL operator and, subject to a successful period of transition, would become the operator of the UKNL with effect from February 2024. 米 3 allwyn#55Allwyn Selected Preferred Applicant for UK National Lottery License Tender in March 2022¹ UK National Lottery Overview² State-licensed national lottery; established in the UK in 1994 ● • Extensive retail network; ~44k retailers represent ~70% of sales Europe's largest online lottery by sales; › 7.5m active registered players ~94% of the UK population live or work within 1 mile of a National Lottery Terminal Online ticket sales accounted for almost a third of all ticket sales in FY20 ● ● Currently operated by Camelot UK Lotteries; license was granted in 1994, 2001, and 2007 55 28 Aug 2020 4th National Lottery license competition was launched Allwyn UK Operations and Partnerships allwyn • Team of UK and international experts with considerable experience in the UK's retail, gaming, digital and entertainment sectors 19 Oct 2020 Final applications submitted by 4 groups: Camelot, Allwyn, Sisal, and The New Lottery Company; which is the largest number of applicants since the lottery's founding 26 Oct 2020 Invitation to Apply issued to all applicants who passed initial Selection Questionnaire Connectivity Partner License Competition Milestones The Gambling Commission, as the regulator of the National Lottery, issues the license to operate the lottery O vodafone business Source: Company information, UK Gambling Commission 1) The award of the UKNL license is currently being contested in a legal challenge. Unless the challenge is successful, Allwyn Entertainment Ltd will be confirmed as the incoming UKNL operator and, subject to a successful period of transition, would become the operator of the UKNL with effect from February 2024 Based on Camelot disclosure as per FY2020A public financial reporting 2) 15 Mar 2022 Allwyn announced as the Preferred Applicant for the Fourth National Lottery license Infrastructure / Technology Partner • Global leader in lottery games, sports betting and technology The award of the license is currently being contested in legal proceedings. Upon the Gambling Commission making the Award Notification, it is expected to enter into legal arrangements with the preferred bidder to start transition period SG SCIENTIFIC GAMESⓇ February 2024 Expected start date for Fourth National Lottery license which will last 10 years 3 allwyn#56The UK National Lottery is one of the largest in Europe UK lottery market overview (2021E) ¹ Adult Population Lottery Ticket Sales /Adult Digital as % of Total 56 GDP 1) 2) 3) UK National Lottery annual GGR (£m)¹ 2,580 2,470 2000A 0% 2005A UK 3% 56.5m €2,638bn €176 2,774 2010A 13% 3,278 18% 3,400 2015A 2020A 31% France €2,462bn 55.2m €267 3,558 2021E 42% 20A-24E CAGR 4.3% 3,802 2022E 44% Source: H2GC, Camelot annual reports Note: GBP:EUR spot rate of 1.18 applied, sourced from Capital IQ as of 27-May-22 Disclaimer: Camelot historical results are not necessarily indicative of Allwyn's business plan or expected results Based on market data sourced from H2GC Italy 52.5m 3,897 11 2023E €1,775bn €354 4,026 46% 2024E 49% Camelot UK Lottery fiscal year ends on 31-Mar D&A includes depreciation on property, plant, and equipment, depreciation on right-of-use assets, and amortisation on intangible assets Camelot UK lottery key financials ² NGR (£m) £656 FY18 EBITDA ³ (£m) £115 FY18 £22 £684 FY18 FY19 £130 Capex and investment in intangibles (£m) FY19 £25 FY19 £722 FY20 £142 FY20 £16 FY20 £728 FY21 £140 FY21 £16 FY21 3 allwyn#57US lottery opportunity Substantial total US lottery market with $109bn in annual ticket sales' and significant scope for growth from both retail and iLottery channels (current penetration of 6%) 2022E Total US Lottery Market¹ ($bn) WA $1.03 1) 57 2) 3 5) OR $0.44 CA $9.64 AK NV ID $0.41 MT $0.07 UT AZ $1.62 WY $0.03 CO $0.86 NM $0.16 HI ND $0.03 SD $0.08 NE $0.24 KS $0.35 TX $7.22 OK $0.26 MN $0.76 IA $0.44 MO $1.75 AR $0.69 LA $0.60 WI $0.82 IL $3.36 CAMELOTI 1 7131 MS $0.50 MI $7.54 IN ² $1.92 IGT AL KY $1.42 TN $2.04 OH $3.85 GA $5.60 Private operator model Retail and iLottery presence Retail lottery presence only WV $0.27 SC $2.57 FL $8.11 PA $6.33 VA $3.04 NC $3.77 ΝΗ $0.40 NY $8.43 VT $0.17/ NORTHSTAR NEW JERSEY NJ³ $4.04 DE $0.24 MD DC $2.89 4 $0.23 ME $0.35 MA $6.18 RI $0.32 CT $1.52 Total US Lottery Market¹ is Estimated to Grow at a CAGR of 7% from 2019A to 2022E US iLottery US Retail Lottery '19A - '22E CAGR % Total # of States 5 32% 6% $6.4bn ● 10 ● ● 2022E Market Size Cohn Robbins' relationships and expertise 6% 94% 45 Source: H2GC, State Lotteries, Company filing. Note: EUR:USD spot rate of 1.07 applied Defined as gross ticket sales for State Lottery lottery style games only (i.e. excludes VLTS / Sportsbetting / Offshore) Privately operated by IGT Indiana, a wholly-owned subsidiary of IGT Privately operated by North Star New Jersey, a JV between IGT and Scientific Games iLottery launched in Dec-20 as a result of emergency rules adopted during the COVID-19 pandemic 10 states include North Dakota, Michigan, Illinois, Kentucky, Pennsylvania, Virginia, North Carolina, Georgia, New Hampshire, Rhodes Island and D.C. (excludes New York, Maine, Maryland which operate under online subscription management model) $102.6bn Gary D. Cohn Vice Chairman of IBM since January 2021 Former assistant to POTUS for Economic Policy and Director of the National Economic Council 3 Clifton S. Robbins Founded Blue Harbour Group in 2004 Previously Managing Member of General Atlantic Partners and KKR allwyn#58Allwyn US market strategy 1 Direct Bids 2 58 Privately Managed State Operated M&A B2G iLottery B2G Retail Exclusive Partnerships Allwyn targets a two-way strategy (direct bids and M&A) to enter the US market Current Status (# of States) Future Potential (# of States) 3 (IL, IN, NJ) 10¹ 45 0 Growth TBD +35 0 Growth TBD 3+ Potential for more states to shift to private management model over time 45 Developing proprietary iLottery tech to service our existing markets and bid on US contracts 45 Developing the retail platform tech stack to target B2G retail contracts TBD Potential for exclusive partnerships to win B2G contracts in US Priority for Allwyn Deployment Status Source: H2GC, State Lotteries, Company filings (1) 10 states include North Dakota, Michigan, Illinois, Kentucky, Pennsylvania, Virginia, North Carolina, Georgia, New Hampshire, Rhodes Island and D.C. (excludes New York, Maine, Maryland which operate under online subscription management model) Actionable 2-3 years 2-3 years Actionable 3 Actionable allwyn#59Allwyn US market strategy (cont'd) Initial phase of US expansion plan expected to enable Allwyn to compete in the US in near term 59 Technology People Upcoming contract renewals Allwyn may target ||||| Developing proprietary iLottery system to service Allwyn's existing jurisdictions and be available to bid on US contracts Build on existing iLottery elements in Austria and Czech Republic Goal of continuing to build out the team in the US to execute Allwyn's US plan Goal of making 2-4 additional key hires by year end 2022 CT DC ND WI AZ WY NH MD WV Retail System Renewal 2023 2024 2024 2024 2024 2024 2025 2025 2025 iLottery Status¹ Legislation Passed Under Discussion In Operation None Legislation Passed None In Operation None None B2G CO VA OR KY AR TX MN CA MS SD Source: La Fleur's 2021 World Lottery Almanac, VIXIO Gambling Compliance, Elliers & Krejcik, H2 Gambling Capital, Moody's Analytics (1) Legislation passed: state has passed iLottery legislation; Under discussion: iLottery legalization discussed by the state. Represents states targeted by Allwyn Retail System Renewal 2025 2025 2026 2026 2026 2026 2026 2026 2026 2026 iLottery Status¹ None In Operation None In Operation None None None None None Under Discussion Private Management Contract Renewal IL IN NJ 2027 3 2028 2029 allwyn#60Q&A 60 allwyn#6161 04 Financial Overview allwyn#62Pro forma structure 2 österreichische LOTTERIEN 62 59.7%2 Austria 1) 2) G CASINOS AUSTRIA Control; fully consolidated 100.0% COHN ROBBINS HOLDINGS CORP - Shareholders Czech Republic Sazka 17% Control; fully consolidated PIPE shareholders 100% PubCo allwyn 48.2%3 1 Greece and Cyprus opap Stoiximan Control; fully consolidated Existing Allwyn shareholders 83% 32.5% Italy IL GIOCO DEL LOTTO Key governance rights defined in Joint Venture Agreement; equity method accounting 100.0% 4 United Kingdom UK National Lottery Source: Company information Note: Assumes no redemptions from Cohn Robbins SPAC Trust and and assumes $353m common PIPE proceeds. Includes impact from expected bonus pools for non-redeeming Cohn Robbins shareholders and PIPE shareholders, with potential for up to combined incremental 9.4mm common shares to be issued. Bonus pool for PIPE and non-redeeming shareholders is variable based on number of redemptions. Shares underlying CRHC warrants expected to be adjusted by the same ratio. Excludes impact from expected 30.0mm earnout shares to existing Allwyn shareholders and 26.5% Founder Share earnout vesting at $12.00 $14.00. Reflects 16% Founder Share forfeiture. Excludes Cohn Robbins SPAC public and private warrants. Allwyn ownership in operating companies as of Dec-21; does not include holding companies, service companies or other miñor operating entities owned by Allwyn Corporate legal name is Allwyn AG, previously SAZKA Entertainment AG Interest in Casinos Austria A.G., key entity in segment Interest in OPAP SA, key entity in segment. Economic interest as of 26-Apr-22 following purchase of minority interest in SAZKA Delta and through open market purchases The award of the UKNL license is currently being contested in a legal challenge. Unless the challenge is successful, Allwyn Entertainment Ltd will be confirmed as the incoming UKNL operator and, subject to a successful period of transition, would become the operator of the UKNL with effect from February 2024. 4 allwyn#63Our financials explained A B A F 63 Amounts wagered Players' winnings Gaming Taxes Costs F BHC Gross gaming revenue (GGR) OPEX ● SG&A EBITDA ● E Net gaming revenue (NGR) ● Key P&L drivers ● Amount of wagers placed by customers With the exception of Italy where revenues are based on: Amounts wagered x Commission Agents' commissions (variable, calculated as a % NGR) • IT related costs from gaming suppliers (semi-variable) Other expenses include rental, content fees (fixed) ● Winners' pay-outs ● Tax base (usually GGR) multiplied by rate; varies based on type of game and country Personnel expenses Marketing expenses (flexible in medium term) ● Consolidated financials Reported under IFRS Impacted by changes in ownership and consolidation scope Reflect 100% of Greece and Cyprus and Austria businesses, Italian business as equity method investee ● Segment financials 100% basis Used to review and analyze performance of each individual segments ● ● Reported financial information ● 4 Pro rata financials Alternative view that reflects the economic interest in each segment Used to review overall performance • Basis for internal reporting, KPIs, covenants ● allwyn#64Delivering on our growth strategies Allwyn has consistently both delivered organic growth and implemented its buy-and-build strategy Pro rata NGR (€mm) 440 2016A 25 +6% +36% 64 Source: Company information 131 LOTTOITALIA +30% 90 960 51 819 а орар (202) Stoiximan 2 CASINOS AUSTRIA TITT +26% +6% +11% (21%) +12% 597 2017A 65 +11% +37% 157 Österreichische LOTTERIEN +17% 2018A I Organic growth (%) I 1 1 I 2019A (9%) Inorganic growth (%) 119 Österreichische LOTTERIEN G +10% CAGR CASINOS AUSTRIA 877 2020A 221 +33% +25% 2019A-2021A CAGR (%) 66 орар G CASINOS AUSTRIA +8% 4 1,165 2021A allwyn#65Delivering on our growth strategies (Cont'd) Compounded top-line growth and consistent margin expansion 65 GGR (€m)¹ Adj. EBITDA (€m)² 121 Czech Republic 2012A 36 2012A CAGR: 14.4% CAGR: 13.3% 408 2021A 111 2021A 1,220 2013A 222 2013A Note: Financials presented on a 100% basis. (1) For Italy, NGR shown. NGR for Italy corresponds to "Revenues from contract with customers" (2) Adjusted EBITDA except for Stoiximan and data prior to 2019A (3) Greece 2019 EBITDA* excluding Stoiximan STX 2019 EBITDA and GGR *data are based on management accounts OPAP CAGR: 4.8% CAGR: 10.5% Greece and Cyprus 2020 and 2021 heavily COVID impacted 1,620 2019A 405³ 2019A Stoiximan 4 201 2019A 17 2019A CAGR: 31.1% CAGR: 103.1% 345 2021A 72 2021A 449 2017A 342 2017A Italy¹ CAGR: 2.7% CAGR: 4.6% 500 2021A 409 2021A 1,246 2019A 211 2019A Austria CAGR: (4.4%) CAGR: 0.1% 1,139 2021A 211 Heavily COVID Impacted 4 2021A allwyn#66Impact of COVID on our top-line Strong performance in segments not impacted by COVID, COVID impacted segments remained below 2019 levels in 2021 ● Segments with limited impact from COVID Organic NGR¹, €m 66 M III Q1-19 Q2-19 Q3-19 IQ4-19 Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Q2-21 Q3-21 Q4-21₁ Austrian Lotteries Czech Republic Greece - Stoiximan Italy % Growth - - Growth: 12.8% || Austrian Lotteries, Czech Republic, Italy, Stoiximan Minimal COVID-19 impact after the first wave in Q1/Q2-20 Strong performance since then, benefiting from rapid customer shift to online - NGR in Q4-21 13% higher than in Q4-19 (pre-pandemic) on organic basis¹ ● % Growth More impacted segments Organic NGR¹, €m - ….…... Q1-19 Q2-19 Q3-19 Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Q2-21 Q3-211 Q4-21 ■Austria - domestic and international casinos Greece (excl. Stoiximan) L__L Growth: (9.2%) Greece physical retail, Austrian casinos Heavily impacted in H1-21 Good recovery in Q3-21, with NGR largely in line with pre-pandemic Q3- 19 levels on an organic basis Q4-21 NGR 9% lower than Q4-19 due to impact from COVID-19 restrictions Note: Greece financials not pro forma for subsequent acquisitions of additional interests in OPAP 1) Pro rata calculations for each quarter illustratively based on current stakes as of Q4-21 to demonstrate organic growth % Growth Combined performance Organic NGR¹, €m Growth: 2.5% ||||| || Q1-19 Q2-19 Q3-191 Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Q2-21 Q3-211 Q4-21 ■Total NGR 4 Q4-21 Group NGR was 3% above Q4-19 on an organic basis¹ Total Q4-21 Group NGR was 29% above Q4-19, reflecting both organic and inorganic growth allwyn#672019-21 segment business highlights - Czech Republic Continuing online growth and resilient physical retail ● •● 67 Consistently delivering strong top-line and profitability growth with GGR and EBITDA substantially above pre-pandemic levels Growth across all products and channels: Numerical Lotteries: +19% vs. FY20 Instant Lotteries: +22% vs. FY20 - iGaming: +68% vs. FY20 Sports Betting: +63% vs. FY20 Strong online growth with 38% of GGR generated online in 2021 (vs. 31% in FY20) Source: Company Information Gross Gaming Revenue (€m) GGR growth 286 2019 Net Gaming Revenue (€m) NGR growth 219 2019 Adj. EBITDA (€m) Adj. EBITDA margin 43.1% 95 2019 315 2020 201 2020 40.7% 82 2020 408 2021 265 2021 41.7% 111 2021 4 allwyn#682019-21 segment business highlights - Greece and Cyprus Online business and new concession support strong increase in EBITDA despite COVID impact ● 68 Due to COVID-related closures of physical retail in for significant part of year, FY 2021 GGR slightly below pre-pandemic levels but EBITDA significantly exceeded 2019 performance Continuing strong performance at Stoiximan (leading online sports betting and iGaming operator in Greece, acquired majority and consolidated in Q4 FY20) Profitability and cash flow supported by structurally more favourable taxation in Greece after start of new concession for largest games in Q4 FY20 Source: Company Information Gross Gaming Revenue (€m) GGR growth 1,620 1620 2019 Net Gaming Revenue (€m) NGR growth 1,092 2019 Adj. EBITDA (€m) Adj. EBITDA margin 37.8% 413 413 2019 Stoiximan Stoiximan 1,130 1090 40 2020 737 2020 44.2% 326 317 9 2020 Others Others 1,510 1164 345 2021 1,015 2021 57.0% 578 550 28 2021 4 allwyn#692019-21 segment business highlights - Italy Strongest ever year for Italian business ● 69 Revenue and EBITDA above pre-pandemic levels in 2021 Record performance in Q1 and Q2, returning to stable levels in Q3 and Q4 Stable high profitability and cashflow generation Gross Gaming Revenue¹ (€m) GGR growth Source: Company Information 1) Revenue for Italian segment based on amounts wagered x commission Net revenue from services (IFRS basis), equivalent to Net gaming revenue (NGR) in other segments 2,368 2019 Net Gaming Revenue² (cm) NGR growth 489 2019 Adj. EBITDA (€m) Adj. EBITDA margin 81.0% 396 2019 1,905 2020 384 2020 80.8% 311 2020 2,404 2021 500 2021 81.8% 409 2021 4 allwyn#702019-21 segment business highlights – Austria Continuing impact from COVID on casinos business into 2021, restructuring program supports profitability • FY 2021 GGR close to pre-pandemic levels despite casinos and VLT gaming halls being shut in H1 • Lotteries continued to perform well ● • iGaming continued to grow strongly (+25% vs. FY20) ● 70 Casinos impacted by COVID-19 restrictions in 2020 and Q1-2 and Q4 of 2021, but delivered revenues at pre-pandemic levels in COVID-19 un-impacted Q3 despite lower tourist footfall Profitability significantly improved due to successful execution of restructuring program (€45m run-rate cost savings) - implemented after acquisition of controlling interest in 2021 Source: Company Information Gross Gaming Revenue (€m) GGR growth 1,246 457 789 2019 Net Gaming Revenue (€m) NGR growth 609 2019 Adj. EBITDA (€m) Adj. EBITDA margin 34.6% 211 2019 1,078 254 823 2020 Lottery, iGaming and Sports Betting 515 2020 27.8% 143 2020 Casinos and VLTS 1,139 240 899 2021 549 2021 38.4% 211 2021 4 allwyn#71Key takeaways - historic performance 71 Strong track record of delivering high growth and profitability Diversified business mix across lottery, gaming and sports betting verticals as well as geographies Strong cash conversion drives optionality ● ● ● ● Consistently delivered organic top-line growth and cost efficiencies, complemented by M&A Resilient performance through 2020 and into 2021 despite material impact from COVID in Greece and Cyprus and Austria, supported by efficient cost management, strong online performance and swift physical retail recovery after various lockdown periods have ended Lottery remains the core product with increasing revenues from other products such as iGaming and sports betting Online revenues are key drivers of revenue growth with momentum from CRM, data analytics and cross selling; physical retail channel remains resilient Delivered consistently high cash conversion across businesses High cash generation gives the Group significant optionality to de-lever, invest in growth opportunities and/or to distribute cash to shareholders 4 allwyn#72Business model drivers / assumptions 72 ☐ Digital and data Physical retail Product innovation Inorganic growth Operational efficiency Continue to increase regulated mobile and digital presence • Cross and up sell to existing customers leveraging brands and data • De-anonymize physical retail channel, e.g. through loyalty plan ● Full recovery to pre-COVID restriction levels in all markets • Omni-channel with retail becoming increasingly de-annoymized, e.g. in-store play via mobile New and revitalized offerings and innovations across retail products ● ● Offer a full range of best-in-class products • New lottery games and complementary products, filling in white space in product portfolio Apply best practices across our geographies ● ● ● ● ● 2022 estimates include only closed (increase in interest in Greece and Cyprus already delivered) or announced (increase in interest in Betano) initiatives, as well as further increase in interest in Greece and Cyprus to 50% through open market purchases, stock dividend None assumed in 2023 NGR and EBITDA exclude impact of UK National Lottery License Tender (investment reflected in capex in 2022 and 2023) No major cost saving initiatives assumed (1) Selected as Preferred Applicant for UK National Lottery. The award of the UKNL license is currently being contested in a legal challenge. Unless the challenge is successful, Allwyn Entertainment Ltd will be confirmed as the incoming UKNL operator and, subject to a successful period of transition, would become the operator of the UKNL with effect from February 2024 4 allwyn#73Strong revenue, profit and cash-flow momentum expected to continue Excluding potential contribution from lottery tenders¹ Pro rata NGR (€mm) NGR growth 819 2018A Pro rata Adj. EBITDA (€mm) Adj. EBITDA margin 42.3% 346 2018A Pro rata adj. EBITDA - capex (€mm) Cash conversion² 90.9% 315 17.2% 960 2019A 43.7% 419 2019A 93.5% 392 2018A 2019A Source: Company information, Management estimates (subject to material change) Note: Stoiximan consolidated in OPAP from 2021A onwards 73 1) 3) Forecast growth for 2023E also excludes potential contribution from M&A Calculated as (Adj. EBITDA - capex) / Adj. EBITDA (8.6%) 877 2020A 41.6% 365 2020A 90.9% 332 2020A 32.8% 1,165 2021A 49.1% 573 2021A 94.4% 540 2021A 42.6% r L 1,661 2022E 45.2% 751 2022E 85.0% 638 2022E 2023 Projections based on organic growth only 9.4% The award of the UKNL license is currently being contested in a legal challenge. Unless the challenge is successful, Allwyn Entertainment Ltd will be confirmed as the incoming UKNL operator and, subject to a successful period of transition, would become the operator of the UKNL with effect from February 2024. 1,817 2023E 45.1% 819 2023E 66.2% 542 2023E Impact of UKNL up-front costs 4 CAGR +17.3% No contribution from UKNL (expected to start in 2024)³ CAGR +18.8% No contribution from UKNL (expected to start in 2024)³ CAGR +11.5% Reflecting I UKNL up- front costs allwyn I#74Already realized initiatives and tangible upsides underpin Adj. EBITDA forecasts Pro rata adj. EBITDA (€mm) €573 2021A Adj. EBITDA €82 OPAP stake increase ✓ Acquisition of stake in Betano Inorganic Growth €96 ✓ Recovery of physical retail in Greece and Cyprus and Austria ✓ Increased online sales ✓ Resilient physical retail ✓ Cross-sell and up-sell Organic Growth +31% growth €751 2022E Adj. EBITDA Does not include any impact from UK National Lottery (concession expected to begin February 2024)¹ €69 Increased online sales ✓ Resilient physical retail ✓ Cross-sell and up-sell Organic Growth 74 Source: Company information, Management estimates (subject to material change) Selected as Preferred Applicant for UK National Lottery. The award of the UKNL license is currently being contested in a legal challenge. Unless the challenge is successful, Allwyn Entertainment Ltd will be confirmed as the incoming UKNL operator and, subject to a successful period of transition, would become the operator of the UKNL with effect from February 2024 1) +9% growth €819 2023E Adj. EBITDA 4 allwyn#75Expected strong balance sheet Pro rata financial leverage¹ 3.1x¹ 0.5x 2.6x 2021PF Pro forma pro rata financial leverage² Adjusted for expected primary proceeds ³ 2.4x 0.4x 2.0x 2022PF 20 1.9x 0.4x 1.5x 2023PF Standalone pro rata financial leverage² Unadjusted for expected primary proceeds 4 Expected strong de-levering profile, driven by: - Expected robust Adj. EBITDA growth Expected significant free cash flow generation Deleveraging shown reflects UKNL4 up-front costs but no further material investment in M&A or tenders Expected significant available balance sheet capacity creating financing and strategic optionality Expected leveragable stable cash flows Willingness to operate above 3x leverage² on temporary basis for M&A Source: Company information, Management estimates (subject to material change) Pro forma for OPAP stake increase from 41.2% to 48.2% since YE-21 and a €170 mm one time dividend paid prior to closing in Q1-22 Refers to leverage at Allwyn AG. Defined as Adj. net debt / LTM Adj. EBITDA; net debt position as of Dec-YE. 75 3) Includes expected primary proceeds of $332mm / €310mm from SPAC transaction (assuming no redemptions), and €322mm of convertible notes expected to be outstanding at transaction close. 2022PF and 2023PF leverage include the impact of expected free cash flow and acquisition of Betano in Q2-22 4) Selected as Preferred Applicant for UK National Lottery. The award of the UKNL license is currently being contested in a legal challenge. Unless the challenge is successful, Allwyn Entertainment Ltd will be confirmed as the incoming UKNL operator and, subject to a successful period of transition, would become the operator of the UKNL with effect from February 2024 allwyn#76Q&A 76 allwyn#7777 05 allwyn Management Team#78Experienced board and management team 78 Management Future Board of Directors Robert Chvatal T Mobile CEO P&G Antonella Pederiva Head of Government Affairs Karel Komarek ■ Founder of KKCG ▪ Founder of the Proměny Foundation Chairman Cliff Robbins ■ Co-founder of Cohn Robbins ■ 35+ years of PANGEA PUBLIC AFFAIRS investment experience ■ Founder and former CEO of Blue Harbour Group Cohn Robbins / Independent Director (¹) Kenneth Morton Morgan Stanley CFO Jana Zabova Roche Head of HR Robert Chvatal ■ CEO of Allwyn Previous experience at T- Mobile, Procter & Gamble and Reckitt Benckiser Executive Director Lord Sebastian Coe ■ President of World Athletics ■ Former member of UK parliament Independent Director GENERALI Expected to be considered independent under NYSE rules. Gary Cohn to assume role of Special Advisor to the Chairman CIO Stepan Dlouhy KKCG Chayton Capital Iva Horcicova NAPIERPARK GLOBAL CAPITAL ING Head of Capital Markets Jan Matuska KEARNEY COO Pavel Saroch ■ CIO of KKCG ▪ Previous experience at Ballmaier & Schultz, Prague Securities, ATLANTIK Non-independent Director Roland Ruprecht ▪ Member of EXPERTsuisse and Association of Lichtenstein Certified Accountants ▪ Former partner at Ernst & Young Independent Director Jonathan Handyside SHEARMAN & STERLING Group General Counsel Tony Khatskevich CTO SOURCE OF SUCCESS Katarina Kohlmayer ▪ Group CFO of KKCG ■ Previous experience at Morgan Stanley and VTB Capital Non-independent Director LO 5 allwyn#7979 C allwyn Valuation Framework#80Transaction summary ● R NYSE-listed SPAC with $829mm¹ cash in trust • Cash in trust supplemented by $353mm PIPE • Founders Gary D. Cohn and Clifton S. Robbins ("Founders") COHN ROBBINS HOLDINGS CORP ● • Intends to effect a business combination ● with Allwyn² Newly formed entity is expected to be listed on the NYSE ("PubCo") • Transaction announced January 21, 2022 and expected to close in Q3 2022 Note: Assumes no redemption from Cohn Robbins SPAC Trust; EUR:USD spot rate of 1.07 applied, sourced from CapIQ, as of 27-May-22 1) Cohn Robbins cash in trust as of 31-March-22. Subject to potential redemptions 2) Allwyn represents the rebranded operations of Allwyn AG, which is the entity that will be subject to the business combination 3) Based on management estimates (subject to material change); adj. net debt as of Dec-21A. Includes €322mm of convertible notes expected to be outstanding at transaction close, pro forma for OPAP stake increase from 41.2% to 48.2% since YE-21 and acquisition of Betano in Q2-22. Excludes impact of expected free cash flow and a €170 mm one time dividend paid prior to closing in Q1-22 Based on market valuation for The Lottery Corporation as of 27-May-2022 80 5) Includes impact from expected bonus pools for non-redeeming Cohn Robbins shareholders and PIPE shareholders, with potential for up to combined incremental 9.4mm common shares to be issued. Bonus pool for PIPE and non-redeeming shareholders is variable based on number of redemptions. Shares underlying CRHC warrants expected to be adjusted by the same ratio allwyn Large, privately-owned multinational lottery business Expected market cap for PubCo of ~$8.0bn /~€7.5bn; represents entry multiple of 10.9x 2023E Adj. EBITDA of $876mm / €819mm³ 10.9x entry multiple is at a discount to core lottery peer The Lottery Corporation4 Bonus pool of 6.6mm shares to be issued to non- redeeming SPAC shareholders, resulting in implied entry multiple of ~10.0x to ~10.3x5 projected 2023E Adj. EBITDA Expected pro forma net debt / 2023E Adj. EBITDA of ~1.8x³ Expected to further bolster Allwyn's growth plans#81Transaction sources and uses Cohn Robbins cash in trust¹ Common PIPE proceeds Existing shareholders rollover Total sources Sources ($mm) 829 353 6,613 7,794 (€mm) 774 330 6,180 7,284 Cash to PF company balance sheet Cash consideration to existing shareholders Existing shareholder rollover Estimated fees and expenses Total uses Uses Note: Assumes no redemptions from Cohn Robbins SPAC Trust and assumes $353m common PIPE proceeds; EUR:USD spot rate of 1.07 applied, sourced from CapIQ, as of 27-May-22 81 1. Cohn Robbins cash in trust as of 31-March-22 ($mm) 332 750 6,613 100 7,794 (€mm) 310 701 6,180 93 7,284 All transaction proceeds (net of transaction expenses) will be paid out to existing shareholders if gross transaction proceeds are less than or equal to $850mm (the minimum cash requirement). If gross transaction proceeds exceed the minimum cash requirement, incremental transaction proceeds will be applied to the Company balance sheet until the primary proceeds amount is equal to 1/3 of the total transaction proceeds (net transaction expenses). Thereafter, transaction proceeds (net of transaction expenses) will be allocated on a pro rata basis 1/3 to primary proceeds, which will be applied to the Company balance sheet, and 2/3 to secondary proceeds, which will be distributed to Company shareholders allwyn#82Pro forma valuation and transaction highlights Illustrative share price (x) PF shares outstanding PF equity value PF Valuation at $10.00/ Share (+) Existing Adj. net debt (YE-21A)¹ PF Total Enterprise Value (TEV) At Deal - PF TEV / 2023E Adj. EBITDA PF TEV / 2023E Adj. EBITDA (SPAC/PIPE Investors)² Implied PF Adj. net debt / 2022E Adj. EBITDA Implied PF Adj. net debt / 2023E Adj. EBITDA 1) 2) 823 ($mm) 10.00 800.8 8,008 1,571 9,579 10.9x 10.3x 2.0x 1.8x (cmm) 9.35 800.8 7,484 1,468 8,952 10.9x 10.3x 2.0x 1.8x Key transaction highlights ✔ Expected ~$9.6bn / ~€9.0bn Total Enterprise Value at deal - ~10.9X EV / 2023E Adj. EBITDA ✔ Total Value discounted basis for SPAC/PIPE investors - ~10.3x EV / 2023E Adj. EBITDA² ✔ Expected bonus pool of 6.6mm common shares for non- redeeming Cohn Robbins shareholders² Existing Allwyn shareholders expected to be awarded 30.0mm common shares subject to earn-out³ ✔✔ Expected pro forma ownership:2, 4 Existing Allwyn shareholders: Cohn Robbins public shareholders: PIPE shareholders: Cohn Robbins sponsor: ✔ 83% 11% 5% 1% ✔✔ KKCG, the majority shareholder of Allwyn, is expected to hold multiple-voting shares including customary sunset provisions The transaction is expected to close in Q3-22 Note: Assumes no redemptions from Cohn Robbins SPAC Trust and assumes $353mm common PIPE proceeds; EUR:USD spot rate of 1.07 applied, sourced from CapIQ, as of 27-May-22; Adj. net debt as of Dec-21A, includes €322mm of convertible notes expected to be outstanding at transaction close, pro forma for OPAP stake increase and acquisition of Betano in Q2-22. Excludes impact of expected free cash flow and a €170 mm one time dividend prior to closing. Forecast financials for Allwyn are presented on a pro rata basis and sourced from management estimates (subject to material change). Cohn Robbins cash in trust as of 31-March-22 Includes €322mm of convertible notes expected to be outstanding at transaction close Includes impact from expected bonus pools for non-redeeming Cohn Robbins shareholders and PIPE shareholders, with potential for up to combined incremental 9.4mm common shares to be issued. Bonus pool for PIPE and non-redeeming shareholders is variable based on number of redemptions. Shares underlying CRHC warrants expected to be adjusted by the same ratio 15.0mm of earnout shares to vest at $12.00 share price and 15.0mm to vest at $14.00 Excludes impact from expected 30.0mm earnout shares to existing Allwyn shareholders and 26.5% Founder Share earnout vesting at $12.00 / $14.00. Reflects 16% Founder Share forfeiture. Excludes Cohn Robbins SPAC public and private warrants I allwyn#83Deal rationale allwyn COHN ROBBINS HOLDINGS CORP 83 1) Sourced from H2GC $ SPAC listing expected to provide Allwyn with a public currency and access to capital to accelerate growth / further consolidation in the fragmented global lottery market The US is the world's largest lottery market¹ and is dominated by state-run lotteries with potential for efficiency improvements A US listing has potential to provide significant strategic and operational value to Allwyn and better position the company for opportunities as the US lottery market develops The Cohn Robbins founders have deep credibility in the US public markets and will become investors as part of the transaction with a shared value creation vision that will drive the Company's growth plan allwyn#84Allwyn compares favorably to primary lottery peers Strong NGR growth coupled with highest cash conversion among lottery comparables 84 Key Allwyn Differentiators 2023E Adj. EBITDA margin (%) 19A-23E NGR CAGR (%) 19A-23E Adj. EBITDA CAGR (%) 2023E cash conversion (%) Total addressable market 2) 3) 233667 Demonstrated ability to enter new geographies, most recently being chosen as preferred bidder in UK tender¹ • Track-record of operational efficiency and improvements ● 5 international markets in operation with a 6th in progress¹ Multi-national Lottery Operator ● ✔ ✔ ✔ ✔ allwyn 17.3% 45.1% 18.2% 66.2% 2 €19bn wagered with 9.4% CAGR growth projected Reflects UKNL up- front spend - 2021 Cash Conversion of 94.4% FDJ Adj. EBITDA margin calculated with respect to revenue instead of NGR, as NGR not applicable Defined as Adj. EBITDA - capex / Adj. EBITDA.For Tabcorp, represents all business segments, not just the Lottery and Keno segment Represents Australia lottery market 5.0% 23.9% 8.9% 82.1% Source: Company information, H2GC, Capital IQ as of 27-May-22 Note: All financials calendarized to Dec-YE unless otherwise stated. 1) The award of the UKNL license is currently being contested in a legal challenge. Unless the challenge is successful, Allwyn Entertainment Ltd will be confirmed as the incoming UKNL operator and, subject to a successful period of transition, would become the operator of the UKNL with effect from February 2024 Based on pro rata Allwyn financials sourced from management estimates (subject to material change) Reflects valuation for The Lottery Corporation published by equity research broker in May-22, sourced from Refinitiv; calendarized due to TLC fiscal year ending 30-Jun Refers to revenue instead of NGR, as NGR not applicable Single market lottery operators ~€19bn 2021A wagered with mid-single digit CAGR growth projected The Lottery Corporation 5.2%4 21.0%5 9.3% 82.5%6 3 ~AU$7bn 2021A wagered with mid-single digit CAGR projected7 ✔Superior performance allwyn#85Positive Tailwinds Allwyn is one of the largest multi-market lottery operators ● Comparable Company Analysis TEV / 2023E Adj. EBITDA At deal³ • Historic growth has ● outpaced peer comps • Further potential from upside from shift to digital and merger activity • 2023E EBITDA figure does not include impact from the UKNL Tender¹. ● UKNL 2021A EBITDA of €165mm Illustrative impact of UKNL Tender Figures in €mm TEV: EBITDA: Illustrative Multiple: 9.1x 85 8,952 819 +1652 984 2) Represents illustrative impact of UKNL tender¹ 10.9x 9.1x allwyn Discounted 4 18.2% 10.3x 8.5x allwyn (Including Bonus Shares) 2019-2023E Adj. EBITDA CAGR 18.2% allwyn (Including Bonus Shares) allwyn Source: FactSet, Cap IQ, Company provided information, Wall Street research. Market data as of 27-May-22 Note: EUR:USD spot rate of 1.07 applied, sourced from CapIQ, as of 27-May-22. 3) 1) The award of the UKNL license is currently being contested in a legal challenge. Unless the challenge is successful, Allwyn Entertainment Ltd will be confirmed as the incoming UKNL operator and, subject to a successful period of transition, would become the operator of the UKNL with effect 4) from February 2024. Based on Camelot annual report for the year ended 31-Mar-21, c.£140mm EBITDA converted to € at spot rate of 1.18 EUR per GBP, sourced from Single Market Lottery Operator 10.9x FDJ 8.9% 17.2x FDJ The Lottery Corporation 9.3% Diversified Gaming peers The Lottery Corporation 13.1x Flutter Flutter CapIQ, as of 27-May-22 Based on pro rata Allwyn financials sourced from management estimates (subject to material change) and pro forma EV of €9.0bn; does not include the impact of expected bonus shares Based on pro rata Allwyn financials sourced from management estimates (subject to material change) and pro forma EV of €8.4bn; includes impact of expected bonus shares. Bonus pool for PIPE and non-redeeming shareholders is variable based on number of redemptions. Shares underlying CRHC warrants expected to be adjusted by the same ratio 7.0% 9.4x Entain 10.7% Σntain allwyn#86Summary of investment opportunity Leading lottery led entertainment platform Scaled business that is expected to generate $876mm / €819mm of 2023E EBITDA¹ ✔ High operating barriers to entry 86 Positioned to capitalize from continued shift to digital ✔ Attractive organic and inorganic growth opportunities with expected significant available balance sheet capacity Potential for substantial upside from UK / US opportunity ✔ Opportunities to invest at compelling transaction value relative to industry comps Expected bonus pools for non-redeeming Cohn Robbins shareholders, with potential for up to combined incremental 6.6mm common shares to be issued further reducing entry price² 42¹ 29 24 34 47 JA S Scratch Lo Note: EUR:USD spot rate of 1.07 applied, sourced from CapIQ, as of 27-May-22. All financials calendarized to Dec-YE Based on management estimates (subject to material change) Includes impact from expected bonus pools for non-redeeming Cohn Robbins shareholders and PIPE shareholders, with potential for up to combined incremental 9.4mm common shares to be issued. Bonus pool for PIPE and non- redeeming shareholders is variable based on number of redemptions. Shares underlying CRHC warrants expected to be adjusted by the same ratio Scratch Lot SSS online LOTTERY 34 click allwyn#87Q&A 87 allwyn#8888 D Appendix allwyn#89Introduction to KKCG 89 ● ● ● Karel Komarek Founder and shareholder, KKCG Founded KKCG in 1992 Visionary leader In charge of KKCG's key strategic initiatives, including: - investments - government relations - long-term partnerships with investors and strategic business partners KKCG KKCG owns 100% of the ordinary shares in Allwyn AG • Multinational investment group specializing in long-term actively-managed investments, primarily in the form of controlling stakes ● . Investment strategies focus on businesses combining significant scale and cash flow generation with organic growth potential ● Portfolio includes more than 30 businesses in 18 countries in the following four main pillars 1) entertainment; 2) technology; 3) oil, gas and chemicals; and 4) real estate Selected portfolio companies Entertainment allwyn Technology ARICOMA GROUP Oil, gas and chemicals MND Xus methanol™ Real estate KKCG allwyn