#1Allwyn International a.s. Q3 2023 Results 5 December 2023 For further information on our company, please visit our website: allwynentertainment.com allwyn ●#2Presenting today 2 Robert Chvatal CEO Kenneth Morton CFO allwyn#3Today's agenda 3 Business and Strategic Update Financial Update Update on Current Trading and Summary Appendix allwyn#44 allwyn Business and Strategic Update#5Q3 2023 highlights A quarter of solid financial performance notwithstanding top line headwinds ● LO 5 Solid financial performance - Total Revenue - Increase driven by Camelot acquisitions - Existing geographies broadly in line YoY, impacted by customer- friendly sports results (as seen across the industry) and unfavourable jackpot cycles Adjusted EBITDA Solid EBITDA generation despite top line headwinds Adjusted EBITDA margin 41.7% ² (Q2'23:42.0%) - Successful execution of growth strategies > Organic - Continued progress in digital, supported by ongoing focus on product development and the customer proposition Rollout of important game innovations including launches in exciting annuity category in Austria, Czech Republic, Greece and Cyprus > Inorganic Economic interest in Greece and Cyprus to increase marginally as OPAP executes a €150m buyback programme (Allwyn does not plan to tender shares) Consolidated Total Revenue €2,007m +98% / -1% vs Q3'22 €368m Consolidated Adjusted EBITDA vs Q3'22, excl. Camelot UK and Allwyn LS Group acquisitions¹ +16% / +1% vs Q3'22 1) In Q1 2023 Allwyn completed the acquisitions of Camelot UK Lotteries Limited ("Camelot UK"), the current operator of the UK National Lottery, and the Camelot Lottery Solutions group of companies ("Allwyn LS Group"; formerly referred to as "Camelot LS Group"), the current operator of the Illinois Lottery, USA, under a private management agreement (the "Camelot Acquisitions"). The United Kingdom segment is consolidated only from February 2023. Allwyn LS Group is consolidated only from March 2023. % of Net Revenue. 3) As if acquisitions were already in effect for the whole LTM period. vs Q3'22, excl. Camelot UK and Allwyn LS Group acquisitions¹ Pro forma LTM consolidated Adjusted EBITDA³ Q1 2023 acquisitions ¹ €1,484m Camelot UK Allwyn LS Group Note: unless noted, all financial data presented is not pro forma for acquisitions of Camelot UK and Allwyn LS Group and only includes the contribution post date of acquisition allwyn#6Strong online momentum continues alongside resilience in physical retail... Online share flat or up YoY across all markets in Q3'23 (higher quarter-on-quarter) with significant growth vs. pre-Covid; physical retail GGR somewhat lower YOY, partly reflecting top line headwinds Austria GGR (excl. VLTS and Casinos)¹ GGR (€m) / Online share of total (%) 36 18% Q1'19 10 16% 160 46 10% 6 1) Q1'19 GGR (€m) / Online share of total (%) 35 20% 52 Q1'19 Q2'19 12 18% 140 48 11% Q2'19 GGR (€m) / Online share of total (%) 394 381 40 19% 55 Q2'19 Q3'19 16 22% 55 12% 172 Q3'19 56 388 Q3'19 40 19% Q4'19 17 20% 166 64 13% Q4'19 69 444 Q4'19 63 Based on management accounts in 2019 for Austria sports betting and Stoiximan 30% Q1'22 45 43% 150 105 Czech Republic GGR 23% Q1'22 58 352 Q1'22 66 29% Online channel Q2'22 49 44% 159 96 Q2'22 22% 62 347 Q2'22 69 31% Q3'22 51 46% 153 Greece and Cyprus GGR (including Stoiximan for all periods)¹ 125 Q3'22 25% 60 374 Q3'22 76 Physical retail channel 31% Q4'22 53 41% 167 124 23% 76 Q4'22 417 Q4'22 77 33% 55 45% 128 24% Q1'23 158 Q1'23 Q1'23 66 400 74 33% 55 45% 119 Q2'23 24% 148 Q2'23 Q2'23 66 379 77 35% 55 46% 128 Q3'23 27% 144 64 Q3'23 Q3'23 353 allwyn#7...de-anonymised share of physical retail also growing Loyalty programmes bring the benefits of online to the physical retail channel 7 4% 1 Czech Republic: de-anonymised GGR share (%) ¹ 2017 7% 2018 1) Share of physical retail GGR 13% 2019 17% 2020 23% 2021 27% 2022 28% 9M'23 355 Greece and Cyprus: evolution of registered customer base ('000) 463 599 687 717 792 873 948 986 1,041 2Q'21 3Q'21 4Q'21 1Q'22 2Q'22 3Q'22 4Q'22 1Q'23 2Q'23 3Q'23 allwyn#8Product launches and innovation across physical retail and online channels Continuing to expand and improve our product offering, user experience, and technology 8 LIVE- STREAMING PARTY CASH 30.000 TOTALLY FREE Mini renta BEMIAN DEMINE BÁJEČNÝ ROK S MINI RENTOU 1000 Kč NAVÍC KAŻDY DEN Gooool VAR PS CHAMPIONS LOSURE CON VSADIT NA SANACZ NEBO NA PROCENT oooool THE BATTLE BEGINS! WITH SUPER TOTAL PRIZES OF 60.000€ -TECH GIFTS -1 TRIP PER MONTH DAILY FREEBETS "TIMES COME FARE NEW NEW Q3 NEW Q3 NEW NEW New and revitalized products / experiences - 9M 2023 NEW EuroMillions front-end/user interface for app Launched dedicated win2day sports app Multiple new instant game launches, including Party Cash and Money Maker NEW New Android version of Sazkabet app NEW Q3 Expanded annuity games portfolio: brand new daily draw "Mini renta" game, additional "Extra renta" draw each week Refreshed branding of the Sazka Hry iGaming portal Improved online sportsbook, including improved interface, personalised content, partial cashout, social features New Opaponline.gr platform in April, launching KINO and other lottery games online alongside Tzoker NEW Q3 Launch of PS.GR CHAMPIONS, a free peer to peer game on Pamestoixima.gr + All Games MAZE WIN UP TO £100,000 PLAY W TO PLAT 30000! 3115.000.000 $43.000.000 Fast Play Games $1 MOND Gasmas BUCKS 000000 Pumpkin Patch pkin Fateh Cash WIN UP TO $80.000 WTH CP TO 13 TIMES 37065 5.000! NEW NEW Launch of scratchcard sales through Sainsbury's online, post a successful trial NEW Q3 18 instant win games launched in Q3, including refresh of popular "Cash Bolt" game NEW "£5k a month for 30 years" the first online/app annuity game NEW Upgrade to tech stack, improving Fast Play game development, experience Further evolution of Fast Play offering with several new Scan-n-Play games NEW Q3 Launched animated Fast Play game tiles on app homepage that bring to life the category (previously static banners) NEW Q3 Continued introduction of new scratch offerings, including seasonal highlights allwyn#9Product launches and innovation across physical retail and online channels (cont'd) Continuing to expand and improve our product offering, user experience, and technology 9 10 100 SUPERIACAPETY SPORT 180900000, Maptiv ADAnuara notop Δημοφιλή A neboompo T B Digitalisation of physical retail MARKET neteopps NITO. T QUEE Tene LOTTERIEN (M) (TE CHO New Pilot of self-service 2023 touchscreen for draw-based games 2022 Digital signage and new POS infrastructure enabling personalisation 2022 Beacons feature promotes in- store play via mobile New New Retail sportsbook platform 2023 with upgraded OPAP Store App and new UI/UX for SSBTS; faster navigation, new functionality (launched July) Key new product launches after Q3 2023 AOTTO Oct 2023 Repositioning of Lotto as an annuity game EURO DREAMS Τζόκερ EURO JACKPOT Nov 2023 First European multi-country annuity game Dec 2023 Repositioning of Tzoker ahead of EuroJackpot launch in Greece HI2024 Launch of EuroJackpot in Greece allwyn#10Q3 2023 key strategic developments Greece and Cyprus: OPAP share buyback programme and end of scrip dividend option 10 OPAP share buyback programme Commencement of share buybacks In September, OPAP's Board of Directors resolved to conduct a share buyback programme of up to €150m by the end of 2024, subject to market and general economic conditions - Expands OPAP shareholders' remuneration - Share purchases commenced in October - At 30 November 2023, OPAP had purchased own shares representing 0.2% of its total shares outstanding for €22m Following these purchases, Allwyn's economic interest in OPAP (net of treasury shares) was 50.63% vs. 50.43% at the end of Q3'22 End of scrip dividend option • Share buyback follows successful 5-year dividend reinvestment programme, which will not be renewed i.e., Allwyn will receive all future dividends from OPAP in cash allwyn#11Continuing to focus on ESG and to contribute to local communities Multiple examples of our ongoing commitment to ESG and corporate social responsibility year to date 11 Sport Alongside being the main partner of the Czech Tour cycle race in July, bikes and a handbike were donated to those in need 우우 CZECH TOUR FINISH MND Safer play Increase in age limit for lottery products from 16 to 18 as of 10 July Reduced iGaming deposit limits with focus on protecting young customers # Safer play comms with signpost to a self-assessment sent to ~6m players Refreshed version of Be Smart, Play Smart responsible gaming message LOTTERIES Ab 10 Jul 2023 Ab 10 Juli 2023: 18+ fach Jackpot 4.3 Mio.€ LOTO Community Chicago employees participated in a Volunteers of America initiative, collecting backpacks for under- privileged children Camelot staff contributed 665 volunteering hours to various charities in Q3, including those funded by the National Lottery Plass Wear CT teers of Aerica ILLINOIS allwyn#12Financial Update 12 allwyn#13Q3 2023 financial highlights A quarter of solid financial performance notwithstanding top line headwinds ● ● Total Revenue +98% YoY reflects steady performance in existing geographies and significant contribution from Camelot Acquisitions - Total Revenue in existing geographies broadly in line with prior year (-1% YoY) Solid margins and free cash flow generation Consolidated adjusted EBITDA +16% YOY, +1% YoY in existing geographies - Adjusted EBITDA margin¹ of 41.7%, in line QoQ; lower YoY owing to mix effects arising from different business models of recent acquisitions Q3 2023 Adjusted Free Cash Flow² at €337m, with higher capex (€32m) reflecting investment ahead of new licence start in UK Consolidated Net debt / Pro forma LTM Adjusted EBITDA of 1.7x at 30 September 20233 • Pro rata metrics include change to definition of effective interest in Greece and Cyprus reflecting start of share buyback OPAP treasury shares now excluded from share count Comparative periods represented for consistency Q3'23 effective interest for calculation increases by 0.25% 13 Note: 1) % of Net Revenue; 2) Adjusted Free Cash Flow calculated as (Adj. EBITDA - Capex); 3) Reflecting the pro forma effects of the Camelot Acquisitions; 4) Formerly Camelot LS Group. Consolidated Total Revenue €2,007m €368m Consolidated Adjusted EBITDA +98% / -1% vs Q3'22 €1,951m Pro rata Total Revenue €292m vs Q3'22, excl. Camelot UK and Allwyn LS Group4 acquisitions +16% / +1% vs Q3'22 Pro rata Adjusted EBITDA vs Q3'22, excl. Camelot UK and Allwyn LS Group4 acquisitions +154% vs Q3'22 +44% vs Q3'22 allwyn#14Consolidated P&L ● ● 14 Total Revenue growth of +98% YOY, Net Revenue +38% YoY Gaming taxes/Good Causes contribution as a % of GGR increased, primarily owing to mix effects related to acquisition of Camelot UK Operating expense growth primarily driven by acquisitions; limited impact of inflation, with largest cost categories directly linked to revenue Adjusted EBITDA margin¹ remains solid at ~42% (Q2'23: 42.0%), with decrease YoY primarily driven by mix effects Strong performance from equity method investees (Lottoltalia, Betano) EBITDA adjustments (see slide 32) higher YoY owing to costs associated with preparation for new licence start in UK and litigation provision in Greece and Cyprus Note: 1) % of Net Revenue Total Revenue Of which: GGR Gaming taxes/Good Causes contribution % of GGR Net Revenue Of which: NGR Other operating income Operating expenses Share of profit of equity investees Operating EBITDA Adjusted EBITDA Consolidated P&L (€m) Q3'22 1,013 Adjusted EBITDA margin Profit before tax 969 (371) 38% 642 598 74 (423) 19 311 317 49.3% 217 Q3'23 A vs. Q3'22 2,007 1,922 (1,124) 58% 883 798 73 (693) 48 311 368 41.7% 172 +98% +98% +203% +20.2p.p. +38% +33% -1% +64% +154% 0% +16% -7.6p.p. -21% allwyn#15Consolidated P&L (excluding acquisitions) ● ● 15 Total Revenue -1% YoY excluding recent acquisitions GGR growth flat YoY Strong performance in iGaming and good growth in instant lotteries and VLTS and casinos offset weaker performance in numerical lotteries and sports betting - GGR growth YoY by product (excl. acquisitions) in HI and Q3 2023 Numerical Instant lotteries lotteries 5% -5% Note: 1) % of Net Revenue 1H3Q 16% 4% 1H 3Q ******** Sports iGaming VLTS and betting casinos 11% -8% 1H3Q 27% 14% 1H 3Q 17% 4% 1H 3Q Total GGR 12% In general, resilient demand notwithstanding consumer spending remaining under pressure 1H 3Q 0% Operating expenses +16% includes costs ahead of new UK National Lottery Licence in February 2024 Strong Adjusted EBITDA margin¹ of c.50%, slightly higher YoY, supported by strong performance of equity investees Total Revenue Of which: GGR Gaming taxes/Good Causes contribution % of GGR Net Revenue Of which: NGR Other operating income Consolidated P&L (€m) Q3'22 1,013 Operating expenses Share of profit of equity investees Operating EBITDA Adjusted EBITDA Adjusted EBITDA margin 969 (371) 38% 642 598 74 (423) 19 311 317 49.3% Q3'23 1,006 965 (370) 38% 636 595 68 (492) 48 260 319 50.1% A vs. Q3'22 -1% 0% 0% 0.0p.p. -1% 0% -7% +16% +154% -16% +1% 0.8p.p. allwyn#16Q3 2023 financials summary Strong net revenue growth and cash generation Net Revenue 350 Adjusted EBITDA 16 Q3'19 1) 2) 41.0% 143 Q3'19 95.7% 137 Consolidated basis (€m) Q3'19 506 Q3'20 40.2% 204 Q3'20 Q3'21 Adjusted FCF (Adjusted EBITDA - Capex) 92.2% 188 583 Q3'20 Q3'21 49.8% 290 96.7% 281 Q3'21 Pro rata calculation based on economic ownership as at each respective period end Calculated as (Adj. EBITDA - Capex)/Adj. EBITDA 642 Q3'22 49.3% 317 Q3'22 96.7% 306 Q3'22 +38% 883 Q3'23 41.7% 368 Q3'23 91.4% 337 Q3'23 CAGR +26% CAGR +27% CAGR +25% EBITDA Margin (% of net revenue) Net Revenue 293 Q3'19 Adjusted EBITDA 32.4% 95 Q3'19 94.8% 90 Q3'19 283 Cash Conversion² Q3'20 42.1% 119 Q3'20 Q3'21 Adjusted FCF (Adjusted EBITDA - Capex) 93.1% 111 Pro rata basis (€m)¹ Q3'20 344 Q3'21 48.3% 166 96.2% 160 Q3'21 414 Q3'22 48.9% 203 Q3'22 90.4% 183 Q3'22 +97% 815 Q3'23 35.8% 292 Q3'23 88.7% 259 CAGR +29% CAGR +32% CAGR +30% Q3'23 allwyn#17Business highlights - Austria Top-line performance reflects benefits of diversification ● ● GGR increased 2% YoY in Q3 Good performance in instant lotteries, iGaming and VLTS and casinos 17 - Numerical lotteries weaker, part reflecting shorter jackpot cycles in EuroMillions and record rollover in prior year period - Prices increased for Lotto (€1.20 to €1.30) and Joker (€1.50 to €1.70) first half of July Adjusted EBITDA -3% YOY - Benefit in prior year from cost-phasing Adjusted EBITDA margin remained solid at ~37% • In VLTS and casinos, licence for operation of ten casinos currently operated in Germany from September 2024 has been awarded to a competitor (FY'22 Total Revenue: €117m) €m 320 €m 298 52 257 39 Q1'19 Q1'20 Q1'21 Q1'22 Q1'23 +19% 30 316 375 +25% 53 66 Q1'19 Q1'20 Q1'21 Q1'22 Q1'23 297 222 42 Gross Gaming Revenue 17 245 Q2'19 Q2'20 Q2'21 Q2'22 Q2'23 45 +1% |--1 357 2019 360 -7% 72 Adjusted EBITDA 67 Q2'19 Q2'20 Q2'21 Q2'22 Q2'23 343 2020 312 318 72 2021 Q3'19 Q3'20 Q3'21 Q3'22¹Q3'231 64 +2% 75 2022 r 359 (-3% 78 366 Q3'19 Q3'20 Q3'21 Q3'221Q3'231 2023 75 340 273 45 336 Q4'19 Q4'20 Q4'21 Q4'22 23 388 61 59 Q4'19 Q4'20 Q4'21 Q4'22 allwyn#18Business highlights - Czech Republic Continued good top line growth in Q3, driven by lotteries and iGaming ● ● 18 Good organic top line growth across all major products - Instant lotteries (+10% YoY) and iGaming (+14% YoY) particularly strong Adjusted EBITDA declined 10% YOY, part reflecting higher marketing expenditure and charitable donations €m 62 €m 77 23 96 22 Q119 Q1'20 Q1'21 Q1'22 Q1'23 CFX +14% (+18% 30 103 121 CFX +7% (+11% 29 32 Q1'19 Q1'20 Q1'21 Q1'22 Q1'23 67 67 Gross Gaming Revenue 22 22 101 31 CFX +4% (+9% Q2'19 Q2'20 Q2'21 Q2'22 Q2'23 111 2019 121 CFX-6% -2% Adjusted EBITDA 31 31 Q2'19 Q2'20 Q2'21 Q2'22 Q2'23 2020 71 2021 75 26 Q3'19 Q3'20 Q3'21 Q3'221Q3'23⁰ 20 97 2022 CFX +7% (+7% 24 111 118 CFX-10% -10% 32 Q3'19 Q3'20 Q3'21 Q3'221Q3'231 2023 29 86 96 24 114 Q4'19 Q4'20 Q4'21 Q4'22 18 128 25 28 Q4'19 Q4'20 Q4'21 Q4'22 allwyn#19Business highlights - Greece and Cyprus Top line headwinds in Q3 ● 19 GGR lower YoY owing to unfavourable jackpot roll-overs (in Tzoker game) and customer- friendly sports results, as well as natural events (floods, wildfires) which impacted some POS Online GGR higher YoY (+3%), benefiting from strong iGaming performance and ongoing product development, such as launch of KINO online as part of new Opaponline.gr in Q2 Adjusted EBITDA -13% YOY, reflecting lower top line and inflation in certain costs (e.g., payroll) €m 396 €m 328 102 170 98 Q119 Q1'20 Q1'21 Q1'22 Q1'23 +15% 68 457 1 527 +13% 175 197 Q1'19 Q1'20 Q1'21 Q1'22 Q1'23 384 180 97 Gross Gaming Revenue 31 392 Q2'19 Q2'20 Q2'21 Q2'22 Q2'23 146 +13% 442 2019 498 +8% {} 167 Adjusted EBITDA 180 Q2'19 Q2'20 Q2'21 Q2'22 Q2'23 392 391 2020 98 2021 462 Q3'19 Q3'20 Q3'21 Q3'22 Q3'231 109 180 4% 499 I 2022 194 481 -13% Q3'19 Q3'20 Q3'21 Q3'22 Q3'231 2023 170 449 231 116 486 Q4'19 Q4'20 Q4'21 Q4'22 88 541 184 195 Q4'19 Q4'20 Q4'21 Q4'22 allwyn#20Business highlights - United Kingdom Unfavourable jackpot rollovers contributed to lower GGR YOY United Kingdom segment comprises operations of Camelot UK • GGR was lower by 12% YoY on a constant currency and comparable presentation basis ● ● 20 - Largely due to weaker performance of numerical lotteries Impacted by shorter jackpot cycles and record rollover in prior year period Adjusted EBITDA of €44 million Adjusted EBITDA margin¹ of 21.9%, broadly similar to FY 2022 (22.8%) Camelot UK Licence runs until 31 January 2024 Allwyn UK will operate next licence from 1 February 2024 - Activities of Allwyn UK currently included in Corporate segment (mainly costs related to preparations for operations under new license) Note: 1) % of Net Revenue €m €m 1,018 Q1'23 45 Q1'23 Gross Gaming Revenue Of which included in consolidated results: €566m 980 Of which included in consolidated results: €20.4m Q2'23 Adjusted EBITDA 50 Q2'23 Prior periods Last period 957 Q3'23 44 I Q3'23 allwyn#21Business highlights - Italy Solid performance ● ● 21 Solid performance in the quarter Net Revenue +7% YoY Adjusted EBITDA +6% YOY Business continues to be highly profitable and cashflow generative - Note: Net Revenue is Revenue from contracts with customers. €m 129 €m 103 105 Q119 Q1'20 Q1'21 Q1'22 Q1'23 134 83 / +5% 1 T--I 121 116 108 +5% 94 99 Q1'19 Q1'20 Q1'21 Q1'22 Q1'23 124 55 99 134 43 Q2'19 Q2'20 Q2'21 Q2'22 Q2'23 113 Net Revenue +3% T--1 113 117 2019 +2% 1--1 92 94 Q2'19 Q2'20 Q2'21 Q2'22 Q2'23 Adjusted EBITDA 2020 113 2021 107 91 Q3'19 Q3'20 Q3'21 Q3'22 Q3'231 88 115 2022 +7% 94 108 116 +6% 88 Q3'19 Q3'20 Q3'21 Q3'221Q3'231 2023 93 I 124 120 101 117 Q4'19 Q4'20 Q4'21 Q4'22 98 122 94 99 Q4'19 Q4'20 Q4'21 Q4'22 allwyn#22Strong free cash flow generation Reflects asset light business model and high profitability ● Higher EBITDA adjustments vs. prior years relate to: Expensing of certain costs associated with preparation for new licence start in UK in February 2024 (€36m) - Litigation provision in Greece and Cyprus (Hellenic Competition Commission fine, €25m) • EBITDA adjustments otherwise comprise only minor positive one- offs ● • Ongoing capex requirement remains consistently low, with €20m of Q3'23 capex relating to UK licence start Sustained strong Adjusted free cash flow conversion, >90% of Adjusted EBITDA 22 1) Calculated as (Adj. EBITDA - Capex) / Adj. EBITDA Adjusted EBITDA Capex 41.0% 143 143 Q3'19 6 Q3'19 95.7% 137 0 Q3'19 40.2% 204 197 Consolidated FCF (€m) 16 Q3'20 Operating EBITDA Q3'20 92.2% 188 7 Q3'20 49.8% Adjusted FCF (Adjusted EBITDA - Capex) 96.7% 290 282 Q3'21 10 Q3'21 281 9 Q3'21 EBITDA Margin (% of Net Revenue) 49.3% 317 311 Q3'22 EBITDA Adjustments 10 Q3'22 96.7% 306 5 Q3'22 Cash Conversion¹ 41.7% 368 311 Q3'23 32 Q3'23 91.4% 337 Q3'23 CAGR +27% 58 CAGR +25% allwyn#23Strong cash conversion Simplified consolidated cash flow bridge year-to-date (€m) 23 1,096 Consol. Adjusted EBITDA 997 Consol. Operating EBITDA 855 Operating Cash Flow (before A in NWC) 110 Dividends from Equity Method Investees (12) Change in NWC (168) Income Tax Paid (75) Capex (279) Dividends to Minority Shareholders of Subsidiaries 431 Attributable Cash Flow before interest and M&A (163) Interest Paid 268 Attributable Cash Flow before M&A and distributions to shareholders allwyn#24Leverage (post-IFRS 16 basis) Low leverage, significant net cash position at subsidiaries As of 30 September 2023, Post-IFRS 16, €m Pro forma LTM Adjusted EBITDA¹ Cash and cash equivalents Gross debt Leases Net debt (incl. leases) Consolidated Net Debt / PF LTM Adjusted EBITDA Consolidated priority Net Debt / PF LTM Adjusted EBITDA Consolidated Net Debt / Consolidated LTM Adj. EBITDA (Post-IFRS 16) 241) 2.7x Q4'19 3.0x Q1'20 Pro forma for Camelot Acquisitions. 3.4x Q2'20 3.0x Q3'20 3.6x Q4'20 3.6x Q1'21 2.6x Q2'21 2.1x Q3'21 1.6x Q4'21 1.5x Q1'22 1.5x Q2'22 1.5x Q3'22 1.6x Q4'22 1.2x 1,484 (1,754) 4,152 158 2,556 Q1'23¹ 1.7x (0.6x) 1.8x 1.7x Q2'23¹ Q3'23¹ allwyn#25Q2 2023 and subsequent key financing transactions Pro-actively managing our capital structure Q3 2023 - Allwyn International In August, the Company drew the remaining €42.5 million available under an accordion facility due in 2029 (at the end of its availability period) • See slide 35 for debt overview as of 30 September ● Post quarter end - Allwyn International In November, provided a €127m distribution to its parent company Allwyn AG, of which: - €100m was for further distribution to its shareholder ● 25 - €27m related to a final true-up in respect of the repayment in full of the preference shares issued by Allwyn AG and held by funds advised by Apollo Global Management Inc. allwyn#26allwyn Update on Current Trading and Summary 26#27Update on current trading ● In October, the performance of sports betting was again impacted by customer-friendly sports results seen across the industry Notwithstanding this, our trading since the start of the year has been broadly in line with our expectations at the start of the year War in Ukraine and Middle East crisis - No material impact - We do not have any operations in Ukraine, Russia or Belarus and our suppliers have not experienced any material disruptions - We do not have any operations in the affected region in the Middle East and our suppliers have not experienced any material disruptions Macroeconomic environment Limited impact of inflation and higher energy prices on our cost structure Our largest cost categories linked to revenue (e.g. gaming taxes, agents' commissions) and energy accounting for a small proportion of our costs Consumer sentiment ● Overall, our business has performed and developed well during the year, despite a background of relatively weak general consumer sentiment 27 - Macroeconomic and political uncertainties continue to have some impact on consumer sentiment in general in the countries where we operate - However, the impact on consumer demand for our products have been limited, reflecting their low price point and low average spend per customer, as well as our large number of regular players - In-line with previous periods of economic dislocation (global financial crisis, Greek crisis, COVID) - allwyn#28Summary A solid third quarter 1 2 3 4 28 A quarter of solid financial performance, notwithstanding headwinds felt by the broader industry and weaker general consumer sentiment Continued progress in key organic growth initiatives, including ongoing innovation in digital and series of launches in exciting annuity category, supporting resilience of performance in existing geographies and positioning for future growth Continuing to execute our inorganic growth strategy, with shareholding in OPAP to increase moderately as new share buyback is implemented, and Allwyn UK to commence operation of the next UK National Lottery licence in February Well placed to end 2023 successfully and for the next chapters of our growth story allwyn#29Q&A 29 allwyn#30Appendix 30 allwyn#31P&L structure A (B 31 Previous P&L presentation Gross Gaming Revenue (GGR) Less: Gaming taxes A B Net Gaming Revenue (NGR) Other Revenue A Gross Gaming Revenue (GGR) (B) Other Revenue New P&L presentation A+B Total Revenue Less: Gaming taxes A+B-C Net Revenue — of which: Net Gaming Revenue (NGR) allwyn#32Summary of adjustments to EBITDA Operating EBITDA Austria Czech Republic Greece and Cyprus United Kingdom² Allwyn LS Group Corporate² Adjustments to Operating EBITDA Austria Czech Republic Greece and Cyprus United Kingdom Allwyn LS Group Corporate Adjusted EBITDA Austria Czech Republic Greece and Cyprus United Kingdom Allwyn LS Group Corporate 32 Standalone, 100% (€m)¹ I I 1 I I 2019 211 95 413 (27) 1 10 211 95 413 (17) 2020 2021 147 84 260 I (4) 66 I 1 15 143 82 326 I 3 (30) (14) (43) (19) 1 232 (15) 107 555 4 23 1 (21) (5) 7 211 111 578 2022 I 266 F 120 726 5 36 261 120 730 I J Q1'23 66 (8) 36 197 26 @ I 18 6 18 66 32 197 45 9 (1) Q2'23 67 34 178 50 8 (25) (3) 2 I 25 67 31 180 50 8 0 Q3'23 78 29 145 45 7 (38) 24 (1) I 36 75 29 170 44 7 (2) Casino Linz insurance gain + restructuring non-personnel I costs I Argentina arbitration gain I I Other Total Austria adjustments I ! Gain from cancellation of obligation to acquire entity Charitable donations and other I Penalty income i Change in accounting principles I i Total Czech Republic adjustments I i Hellenic Lotteries minimum gaming tax adjustment I Litigation provision I ! COVID-19 related extraordinary costs I I I EBITDA Adjustments Breakdown³ I I I Other non-recurring costs and write-offs Total Greece and Cyprus adjustments Expenses related to license bid and transaction costs Restructuring Change in accounting principles Litigation settlement income !Total United Kingdom adjustments I I I Transaction costs I I I ! Total Allwyn LS Group adjustments I I I UK National Lottery transition costs I Business development and financing Arbitration gain Total Corporate adjustments All entities shown on 100% basis; all of Q1 2023 shown for United Kingdom and Allwyn LS Group (formerly Camelot LS Group) Activities related to the next UK National Lottery license, which will commence in February 2024 and will be operated by the Company's subsidiary Allwyn UK, are currently reported as part of the Corporate segment. See additional disclosure relating to EBITDA adjustments in Allwyn International Q3 2023 Preliminary Unaudited Results and Update on Current Trading 2019 2020 I (16) 17 1 I I I 10 10 (4) I (4) (4) (21) (2) (2) 38 5 10 13 66 I 1 I I T I 15 2021 15 (1) (16) I 4 4 25 (1) (4) I I 3 (1) 23 5 I I I 2022 20 (13) 7 (6) 0 (5) 4 I I I I 21 14 36 Q1'23 (1) (2) (3) I 7 4 8 18 6 6 18 18 Q2'23 Q3'23 I II INI (3) (3) 2 I 2 I I I 25 0 25 (2) 24 24 (1) (1) I 36 37 allwyn#33Q3 2023 Consolidated Adjusted EBITDA build up Austria Czech Republic Greece and Cyprus United Kingdom Allwyn LS Group Italy (share of net profit) Other Consolidated Adjusted EBITDA (€m) Q3'22 Corporate Consolidated Adjusted EBITDA 33 77.5 31.9 194.0 14.5 (1.2) 316.7 Q3'23 75.3 28.8 169.7 44.4 6.7 15.5 29.9 (1.9) 368.4 Note: Other comprises other equity method investees directly owned by Allwyn. Financial metrics are based on unaudited management accounts. allwyn#34Summary of pro rata Adjusted FCF 1 Pro rata to interest at end of each period (€m) ¹ Adjusted EBITDA - pro rata Austria Czech Republic Greece and Cyprus United Kingdom² Allwyn LS Group Italy Other³ Corporate² Total Adjusted EBITDA - pro rata Capex - pro rata Austria Czech Republic Greece and Cyprus United Kingdom Allwyn LS Group Italy Other Corporate Total Capex- pro rata Ownership at the end Q3'23 59.7% 100% 50.43% 100% 100% 32.5% 59.7% 100% 50.43% 100% 100% 32.5% 2019 80 95 133 129 12 5 10 2020 79 82 118 (17) (15) 420 366 27 101 18 7 8 33 2021 126 111 235 1 I 133 121 27 (7) (8) 597 782 10 14 8 1 1 1 2022 Q1'23 156 39 120 32 366 98 45 9 32 26 (1) 281 32 12 12 10 I I 8 16 58 3 1 7 2 1 2 4 20 Q2'23 Q3'23 40 45 31 29 91 86 50 44 8 7 31 30 44 53 294 3 1 2 1 1 3 6 17 292 3 2 2 3 1 I 3 20 34 Adjusted FCF - 1 Pro rata to interest at end of each period (€m) ¹ pro rata Austria Czech Republic Greece and Cyprus United Kingdom Allwyn LS Group Italy Other Corporate Total Adjusted FCF - pro rata Ownership at the end Q3'23 59.7% 100% 50.43% 100% 100% 32.5% 34 1) For acquisitions, pro rata by definition reflects the contribution for the entire period or year in which the entity was acquired. 2) Activities related to the next UK National Lottery license, which will commence in February 2024 and will be operated by the Company's subsidiary Allwyn UK, are currently reported as part of the Corporate segment. 3) Other comprises the pro rata effect of other equity method investees directly owned by Allwyn. Financial metrics are based on unaudited management accounts. 2019 2020 2021 61 116 97 68 90 74 122 110 227 128 101 1 I 133 (17) (15) (7) 393 332 565 2022 Q1'23 Q2'23 Q3'23 36 37 144 41 109 31 29 27 356 91 88 84 43 49 42 8 7 6 32 31 30 23 41 50 (4) (4) (21) 262 278 259 I 1 121 19 (24) 724 allwyn#35Diversified capital structure across multiple instruments with access to EUR, USD and local markets Debt overview as of 30 September 2023 Consolidated Subsidiary Net Debt / (Cash) Subsidiary Leases Other Cash & Cash Equivalents Total Consolidated Priority Net Debt Syndicated Bank Loan €290m Term Loan A due 2027 €290m Term Loan B due 2028 €303m Refinancing Facility (TLA2/ TLB2) due 2027/2028 £380m Term Loan E (UK Multipurpose Facility) due 2027 €335m Accordion facilities due 2029 Bonds CZK 6bn 5.200% Czech Notes €500m 3.875% SSNS due 2027 €400m E+4.125% FRNS due 2028 €665m 7.250% SSNS due 2030 $700m 7.750% SSNs due 2029 IFRS adjustments to debt Lease liabilities Total Consolidated Net Debt Amount (€m) (846) 144 (173) (875) 290 290 133 27 335 120 500 400 665 660 (4) 14 2,556 35 1) LTM Adjusted Consolidated EBITDA as of 30 September 2023 pro forma for Camelot Acquisitions. x PF LTM Adj. Consolidated EBITDA¹ (0.6)x 1.7x Split by Fixed / Floating 38% Fixed ■ Floating ■ Bank loans 5% 10% 3% Out of 16% of financing in USD, 86% is hedged to EUR 62% Split by Instrument 13% 44% ■SSNS Subsidiary local bonds CZK local bond 26% Split by Currency 16% ■ EUR ■ FRNS 4% 81% USD ■ Other Subsidiary local loans aiiwyn#36No significant maturities until 2027 and ample available liquidity Debt maturity profile as of 30 September 2023 (€m) 36 Weighted average life: 4.5 years 6 2023 2.7x 81 104 Dec'19 2024 1 53 104 2025 Consolidated net leverage Bank loans 3.6x Dec'20 341 121 2026 1.6x 250 Dec'21 500 148 2027 400 Bonds Subsidiary drawn debt Excludes CZK bond for which committed financing is in place Pro forma for Camelot Acquisitions 3) Calculated as Consolidated LTM Adjusted EBITDA/ Consolidated LTM Interest expense Excludes £45m Camelot UK RCF which matured in October 2023 433 2028 1.6x Dec 22 660 285 2029 1.7x 665 2030 Q3'232 Available facilities as of 30 September 2023 (€m) Allwyn International RCF Subsidiary RCFS4 Allwyn International Loans Refinancing facility UK facility (£380m TLE) Total committed facilities Interest coverage 9.2x Dec'19 5.4x Dec'20 Capacity 300 Dec'21 330 303 9.7x 440 9.9x Drawn Dec 22 0 0 133 27 Undrawn 300 330 171 413 1,213 7.8x Q3'23 3 allwyn#37Pro rata net leverage (pre-IFRS 16 basis) As of 30 September 2023, Pre-IFRS16 Basis¹ €m 100% basis LTM Adjusted EBITDA Cash and cash equivalents and short-term financial assets Net debt Pro-rata ownership (%) Pro-rata LTM Adjusted EBITDA Pro-rata net debt 2.9x 2.9x 3.2x Austria 3.2x 250 (388) (318) 59.7% 149 (190) (1.3)x Pro rata net leverage Pro rata priority net leverage Pro rata Net Debt / Pro-rata LTM Adj. EBITDA (Pre-IFRS16) Czech Republic 3.9x 115 (47) (47) 100.0% 115 (47) (0.4)x 4.0x Greece & Cyprus 3.1x 731 (813) (148) 50.4% 369 (75) (0.2)x 2.6x United Kingdom 169 (323) (323) 100.0% 169 (323) (1.9)x 2.2x Allwyn LS Group² 32 (50) (50) 100.0% 32 (50) (1.6)x 2.3x 2.2x Italy 385 (223) (223) 32.5% 125 (72) (0.6)x 2.1x Other³ 371 (449) (449) 36.8% 136 (165) (1.2)x 2.2x Corporate 1.7x (7) (173) 3,244 100.0% (7) 3,244 NM Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q4'19 Q1'20 1) All data presented in this table excludes the impact of IFRS 16 Leases. The information in the table above has been derived or calculated from the financial statements and financial information of SAZKA a.s., OPAP, CASAG, Stoiximan, Camelot UK, Allwyn LS Group (formerly Camelot LS Group), equity method investees, Allwyn International and certain other entities within the Group. Pro rata ownership % indicates the effective interest of the Company in each entity as of 30 September 2023 (which is not adjusted for the effect of treasury shares held by OPAP), which is assumed to have been held constant throughout the twelve months ended on that date. We present these pro rata financial measures because compliance with certain of the covenants in the indentures governing the 3 7/8% Senior Notes due 2027 and Senior Secured Floating Rate Notes due 2028 is determined with reference to the pro rata financial ratios set forth above. 37 2) Formerly Camelot LS Group. 3) Other comprises the pro rata effect of other equity method investees directly owned by Allwyn. Financial metrics are based on unaudited management accounts. 4) Includes Allwyn, service companies and holding companies. 2.3x Q2'23 Total 1,088 2,322 2.1 x (1.0)x 2.1x Q3'23 allwyn#38Dividends and distributions €m Dividends and cash upstreamed - 100% basis Austrian Lotteries CASAG Lottoltalia OPAP SAZKA Dividends and cash upstreamed - pro rata to interest at the end of each period of which cash 38 of which OPAP dividend taken as scrip Dividends and cash upstreamed-pro rata to interest as of 30 September 2023 of which cash of which OPAP dividend taken as scrip 2) 9.45% directly held stake. CASAG also holds a 73.8% stake in Austrian Lotteries Net of treasury shares Ownership at end of September 2023 9.5%¹ 59.7% 32.5% 50.4%² 100.0% 2019 120 15 351 165 19 203 203 236 236 2020 177 237 420 38 284 139 145 343 144 200 2021 91 I 316 222 81 282 197 85 304 199 106 2022 120 45 321 599 84 527 423 104 529 425 104 9M'22 120 45 298 491 73 454 370 83 456 372 83 9M'23 114 130 265 416 77 469 396 72 468 396 72 allwyn#39Alternative performance measures and comparability of information This presentation includes non-IFRS performance measures, including Net Revenue, Net gaming revenue ("NGR"), Operating EBITDA, Adjusted EBITDA, Adjusted EBITDA margin, Capex, Adjusted Free Cash Flow ("Adjusted FCF"), Cash conversion and pro rata financial information. For Net Revenue, NGR, Operating EBITDA, Adjusted EBITDA, Adjusted EBITDA margin, Adjusted Free Cash Flow and Capex, please refer to Allwyn International's Preliminary Unaudited Financial Results and Update on Current Trading dated around the same date as this presentation that include definitions of these non-IFRS measures and reconciliations to the most directly comparable IFRS measures. Pro rata metrics are calculated as the sum of metrics for individual segments and significant equity method investees as if those were fully consolidated multiplied by the Group's interest in each segment or significant equity method investee at the end of the reported period. In the case of our Greece and Cyprus segment, treasury shares held by OPAP are not excluded from the share count. As there are no generally accepted accounting principles governing the calculation of non-IFRS financial and operating measures, other companies may calculate such measures differently or may use such measures for different purposes than we do, and therefore you should exercise caution in comparing these measures as reported by us to such measures or other similar measures as reported by other companies. These measures may not be indicative of our historical operating results or financial condition, nor are such measures meant to be predictive of our future results or financial condition. Even though the non-IFRS financial measures are used by management to assess our financial position, financial results and liquidity and these types of measures are commonly used by investors, they have important limitations as analytical tools, and you should not consider them in isolation or as substitutes for analysis of our financial position or results of operations as reported under IFRS. All financial information is presented on comparable basis, including effects of any restatements or changes in presentation described in the latest annual accounts on the currently presented comparative period. 39 allwyn#40Disclaimer This presentation was produced by Allwyn International a.s. This presentation is not to be reproduced or distributed, in whole or in part, by any person other than Allwyn International a.s. This presentation does not represent an offer for, or constitute or form part of, and should not be construed as, an advertisement, recommendation or an invitation to subscribe for or to purchase securities of, Allwyn International a.s. or its subsidiaries. This presentation does not form, and should not be construed as, the basis of any credit analysis or other evaluation, or as providing an investment or lending recommendation, advice or valuation or a due diligence review. The information contained in this presentation is for informational purposes only. The preliminary unaudited results for the three months to 30 September 2023 are an estimate, based on information available to management as of the date of this presentation, and are subject to further changes upon completion of the Company's standard quarter closing procedures. This update does not present all necessary information for an understanding of the Group's financial condition as of the date of this presentation, or its results of operations for the first quarter. As the Company completes its quarter-end financial close process and finalizes its financial statements for the quarter, it will be required to make significant judgments in a number of areas. It is possible that the Company may identify items that require it to make adjustments to the financial information set forth in this document and those changes could be material. The Company does not intend to update such financial information prior to release of its final third quarter financial statements, which is expected on or before 13 December 2023. This presentation may include forward-looking statements regarding certain of our plans and our current goals, intentions, beliefs and expectations concerning, among other things, our future results of operation, financial condition, liquidity, prospects, growth, strategies, pending acquisitions or other transactions, financing plans and the industries in which we operate. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Generally, but not always, words such as "may," "could," "should," "will," "expect," "intend," "estimate," "anticipate," "assume," "believe," "plan," "seek," "continue," "target," "goal," "would" or their negative variations or similar expressions identify forward-looking statements. By their nature, forward-looking statements are inherently subject to risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. We caution you that forward-looking statements are not guarantees of future performance and that Allwyn's actual results of operations, financial condition and liquidity and the development of the industries in which we operate may differ materially from those made in or suggested by the forward-looking statements contained in this announcement. In addition, even if our results of operations, financial condition and liquidity and the development of the industries in which we operate are consistent with the forward-looking statements contained in this document, those past results or developments may not be indicative of results or developments in future periods. We do not undertake any obligation to review, update or confirm expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise after the date of this document. 40 allwyn#41Disclaimer No warranty or representation of any kind, express or implied, is or will be made in relation to, and to the fullest extent permissible by law, no responsibility or liability in contract, tort, or otherwise, is or will be accepted by us or any of our officers, employees, advisers or agents, or any other party, as to the accuracy, completeness or reasonableness of the information contained in this presentation, including any guidance, opinions, forecasts or projections. Nothing in this document shall be deemed to constitute such a representation or warranty. Any estimates and projections in this presentation were developed solely for our use at the time at which they were prepared and for limited purposes which may not meet the requirements or objectives of the recipient of this presentation. Nothing in this document should be considered to be a forecast of future profitability or financial position, and none of the information in the document is or is intended to be a profit forecast or profit estimate. We are not providing any advice herein (whether in relation to legal, tax or accounting issues or otherwise). You should seek legal, tax, accounting and any other necessary advice from your advisors in relation to the contents of this presentation. This presentation has not been approved by any regulatory authority and does not represent financial statements or an annual report within the meaning of applicable Czech law. 41 allwyn