Flutter Results Presentation Deck

International update Adjarabet case study: example of value creative M&A Strategic criteria Enhanced competitive position "Local hero" with market leadership Clear opportunities Buy and build podiums to add Flutter Edge and accelerate growth ● . ● ● ● ● adjarabet.com Case study in action Primarily a cash deposit industry via local terminals High brand awareness of incumbent brands Competitive moat to non-local operators #1 operator, 86% spontaneous brand awareness Exclusive partnership with #1 Georgian website Adjaranet 600 employees with strong local relationships and network Marketing and generosity expertise improved acquisition and retention Talent mobility to enhance local skill set Proprietary Flutter pricing capabilities delivered differentiated sports product In-house casino content 1 Based on full acquisition cost of £305m in two tranches (2019 and 2022) 2 EBITDA multiple calculated by reference to 2022 EBITDA. Effective EBITDA multiple of 6.4x when calculated using 2018 and 2021 referable profits and price Financial fit 2018-2022 £305m Purchase price¹ 5x EBITDA multiple² >3x 2018 revenue 3x 2018 EBITDA Growing Georgia and Armenia market share II. 35

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