#1sazka allwyn GROUP SAZKA Group a.s. FY 2021 Results May 2022 For further information on our company, please visit our website: allwyn entertainment.com STAN ***** 00000 Ⓡ0#2Presenting today 2 Robert Chvatal CEO, Allwyn Kenneth Morton CFO, Allwyn#3Sazka allwyn GROUP BUSINESS AND STRATEGIC UPDATE#4This presentation includes financials of SAZKA Group a.s. Allwyn Entertainment AG, the entity expected to be listed on the NYSE, will be the parent company of SAZKA Group 4 Allwyn Entertainment AG Future Listing Entity Current Parent Company of SAZKA Group SAZKA Entertainment AG SAZKA Group a.s. Operating Segments Restricted Group T ● • This presentation relates to financials of SAZKA Group a.s., representing the restricted group for outstanding senior secured notes and bank debt financing ● Currently, the parent company of SAZKA Group a.s. is SAZKA Entertainment AG. A new holding company, Allwyn Entertainment AG, is expected to be the future entity listed on NYSE Allwyn's and SAZKA Group's financials are similar, but SAZKA Group's financials do not reflect operating and financing costs incurred by Allwyn sazka allwyn GROUP#5FY 2021 highlights Strong financial performance despite continuing pandemic and continuing delivery on growth strategy ● ● LO 5 Record financial performance in 2021 despite impact of COVID-related restrictions on some businesses - Gross Gaming Revenue above pre-pandemic levels - Profitability at structurally higher levels with Adjusted EBITDA margin above 50% Continuing to deliver on organic and inorganic growth strategies, leveraging our unique international B2C lottery platform - Another year of strong online growth - Digitalization of retail channel - Product and technology innovation - Submitted bid to operate operate the UK National Lottery and subsequently selected as Preferred Applicant - Increasing interests in less than 100%-owned businesses 1) 2) 3) 4) Excl. casinos and land-based sports betting Including Stoiximan for all periods GGR for Italy calculated as stakes-payout Based on pro-rata (ownership as at Q4'21) GGR €3,057m €967m FY19 Online % Share of GGR 17.8% 19.2% 11.7% Consolidated Adjusted EBITDA +7.7% 1 Consolidated GGR +18.6% +15.5% ² FY21 25.6% 37.8% +51.5% vs FY20 27.2% +60.4% vs FY19 +79.7% vs FY20 +60.3% vs FY19 Product Split VLT and Casinos 9% Sports Betting 9% iGaming 10% FY21 GGR 3,4 Lottery 71% sazka allwyn GROUP#6Strong financial performance in 2021 Revenues, profitability and cashflow generation significantly above pre-pandemic levels despite COVID-related restrictions on some businesses NGR 1,311 Adjusted EBITDA 46.0% 6 FY 19 1) 2) 3) 603 FY19 93.8% 566 Consolidated financials FY19 EBITDA Margin² Adjusted FCF (Adjusted EBITDA - Capex) 91.4% 1,213 Cash Conversion³ FY20 44.4% 538 FY20 492 FY20 1,829 FY21 52.9% 967 FY21 94.8% 917 FY21 CAGR 18.1% CAGR 26.6% CAGR 27.3% Pro rata calculation based on economic ownership by segment at the end of Q4'21; not pro forma for subsequent acquisitions of additional interests in OPAP Calculated as Adj. EBITDA/NGR Calculated as (Adj. EBITDA - Capex)/Adj. EBITDA NGR 960 FY19 Adjusted EBITDA 43.7% 419 FY19 93.5% 392 Pro-rata basis ¹ FY 19 877 FY20 41.6% Adjusted FCF (Adjusted EBITDA - Capex) 90.9% 365 FY20 332 FY20 1,165 FY21 51.1% 596 FY21 94.6% 564 FY21 CAGR 10.2% GROUP CAGR 19.2% CAGR 19.9% sazka allwyn#72021 COVID-19 restrictions on physical retail channel - summary Physical retail business in Greece and Cyprus and casinos impacted in H1, strong recovery in Q3 and Q4, some limited restrictions in Q4 7 Q1-21 Q2-21 • POS in the Czech Republic, Austria and Italy open and functional, no material impact from restrictions • Physical retail business in Greece and casinos impacted in H1 but strong recovery in Q3 and Q4; limited impact from new restrictions - Agents' stores in Greece and VLT halls shut for almost all of Q1 and into Q2 - Casinos and gaming halls in Austria and most international casinos closed throughout Q1 and into Q2 Online sales at structurally higher levels ● All physical retail operations open, no material restrictions Online sales growth momentum continues Q3-21 Q4-21 Greece and Cyprus physical retail + Austrian casinos: Limited COVID-related restrictions re-introduced in Austria and Greece ● - Measures and impact considerably more targeted and limited in scope than in previous waves • Casinos in Austria were closed during 3-week general lockdown which ended on 13 December - POS network for lottery products was unaffected by the lockdown, in line with previous restrictions • Customers required to demonstrate vaccination status to visit stores and VLT halls in Greece and casinos in Austria Other: • Trading in the Czech Republic and online channel was unaffected No material restrictions on physical retail channel Online continued to perform well Italy unaffected for most of period; restrictions on number of people in POS introduced at end of quarter sazka allwyn GROUP#8Strong online growth with innovation in physical retail Data drives growth through cross-sell and supports player protection ● • Online growth supported by ● ● Strong online momentum continued in 2021, including sales of lottery products through online channel and iGaming 8 - Cross-selling, leveraging brands, website and app traffic from lottery players - New product launches - Acquisition of leading online player in Greece, Stoiximan (consolidated from December 2020) Sales through physical retail also remain strong when not impacted by COVID-19 restrictions, once again demonstrating that the online growth does not cannibalize physical retail sales ● • We continue to de-anonymise our customer base through increasing number of online customers and loyalty programs for physical retail customers. Gathering more data about customers allows us to implement enhanced player protection measures 1) 2) Based on management accounts Does not include casinos and sports betting operated under Tipp3 brand 35 17% 10 16% 169 Q1/2019 83% 46 10% 52 84% Q1/2019 396 90% Q1/2019 34 19% 12 19% 148 Q2/2019 81% 48 11% 55 81% Q2/2019 381 89% Q2/2019 39 17% 16 Q3/2019 21% 183 83% 55 12% 56 79% Q3/2019 387 88% Q3/2019 39 18% 17 178 Q4/2019 21% 82% 69 79% Q4/2019 440 87% Austria GGR (Lotteries and Online Gaming) ¹,2 64 13% Q4/2019 40 20% 161 80% Q1/2020 27% 57 20 73% Q1/2020 327 83% 48 69 17% Q1/2020 25% 143 75% Q2/2020 33% 45 22 67% Q2/2020 172 47 55 24% 76% Q2/2020 22% 165 78% Q3/2020 51 24 68% 32% Q3/2020 379 55 83% 24% 77 17% Q3/2020 Czech Republic GGR 179 Q4/2020 31 76% 108 65 66% 34% Q4/2020 171 61 39% 61% Q4/2020 25% Online channel Physical retail channel 186 Q1/2021 35 75% 123 61 63% 37% Q1/2021 54 52 70% 30% Q1/2021 39 149 27% Q2/2021 73% 106 63 61% 39% Q2/2021 Greece and Cyprus GGR (including Stoiximan for all periods)¹ Some impact on Q4-21 from COVID-19 restrictions 287 73% 52 27% Q2/2021 38 153 25% Q3/2021 75% 97 59 60% 40% Q3/2021 373 79% 63 21% Q3/2021 26% 43 183 Q4/2021 74% 85 71 62% 38% Q4/2021 388 82% 18% Q4/2021 Online +60.5% vs Q4 2019 Physical Retail +3.0% vs Q4 2019 Online +156.5% vs Q4 2019 Physical Retail +3.0% vs Q4 2019 Online +32.3% vs Q4 2019 Physical Retail (11.8%) vs Q4 2019 sazka allwyn GROUP#9Rapid growth in online customer base Number of online customers almost doubled since pre pandemic Average monthly active online customers per quarter (000)¹ 9 allwyn +26.3% CAGR 587 Q4- 19A 844 Q4- 20A 937 Q4- 21A Austria 185 Q4- 19A +19.0% CAGR 248 Q4- 20A 262 Q4- 21A Czech Republic 158 Q4- 19A +27.3% CAGR 235 Q4- 20A 256 Q4- 21A Source: Company information 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 1) Greece and Cyprus 243 Q4- 19A +31.3% CAGR 360 419 Q4- 20A sazka allwyn GROUP Q4- 21A#10Product launches and innovation We continue to expand and improve our product offering, UX and technology ● ● ● 10 We continue to successfully implement new products, UX and technologies as well as proven innovations across our geographies Leveraging our unique international B2C lottery platform Digitalisation of physical retail via loyalty scheme (Czech Republic → Greece) - Event draws (Czech Republic → Austria) - Online products and know-how (Czech Republic Austria) - Group play / syndicates (Austria → Czech Republic) - Advent scratch cards (coordinated across Austria, Czech Republic and Greece) Innovation in physical retail stores - OPAP Store app - rollout of beacons completed in the entire network - Rollout of new terminals in the Czech Republic Nur am Freitag, den 13. N VR New and revitalised products LOTTSAIEN Spiele mit Verantwortung sin alan Aerahnen und au Skupinové sázení SKUPINOVÉ SÁZKY DO CO 02:36 100.000€ Päkap 2050. Sal 000000 000000 Mit 1 Mio. Euro extra! 1 Tipp + Alles ist möglich. LOTTO EXAN M PŘIHLÁSIT Sem 29 Y BE ↓ o bom NEW special event draws NEW group play feature NEW annuity jackpot game NEW OPAP Store App NEW Powerspin game features STOIXIMAN # Cep BOXE CAS New technology and UI GR NEW in-house sports-betting platform at Stoiximan NEW sports-betting app enhancements NEW iGaming app tournaments integration Digitalising physical retail NEW retail loyalty scheme sazka allwyn GROUP#11Platform to cross-sell customers Sticky customer base, brands, data and wide product offerings drive growing revenues by cohort Cross-selling initiatives 11 Increase number of games bery YOU WON! 1) 2) 1.000.0 SCRATCH EZ EZ2 > Loyalty programs Gamification Lottery iGaming Sportsbook eScratch Source: Company information Based on aggregate online GGR across all products offered in Czech Republic Based on management estimates (subject to material change) Czech Republic internal case study¹: GGR per player cohort and YoY growth (%) 2017A 2018A 2017 Cohort +39% +81% CAGR 2019A +52% +22% 2020A 2018 Cohort ■2019 Cohort 2020 Cohort +60% +18% +21% 2021 Cohort 2021A +46% GROUP +2% +8% +21% sazka allwyn#12Key strategic developments in 2021 Continuing to deliver on our inorganic growth strategy through increasing stakes in existing businesses and expansion into new markets 1 UK National Lottery bid 2 Further increase in interest in Austrian business ● 12 Submitted our bid to operate the Fourth UK National Lottery licence 3 Further increase in interest in Greek and Cypriot business ● Acquired a further 4.31% shareholding in CASAG Shareholding in OPAP increased by 4.28% to 47.22% (economic interest 40.37%) SAZKA Entertainment (parent company of SAZKA Group) rebranded to Allwyn • The Allwyn brand will support our long-term global growth ambitions sazka allwyn GROUP#13Key strategic developments - subsequent Strong momentum into 2022 1 UK National Lottery bid • In March 2022, selected as Preferred Applicant by the Gambling Commission 2 NYSE stock exchange listing via merger with CRHC • In January 2022, Allwyn announced a merger with Cohn Robbins Holdings Corp as a result of which it would become listed on the NYSE 3 Further increase in OPAP shareholding • In February 2022, we acquired the last remaining minority interest in SAZKA Delta (an entity through which we hold part of our controlling interest in OPAP) for consideration of €327m ● 13 4 Acquisition of 36.75% in Kaizen • In April 2022, we acquired a 36.75% interest in the business of Kaizen Gaming Limited outside Greece and Cyprus from OPAP for a consideration of €50m plus earnouts • Kaizen is a fast growing online sports betting and iGaming operator using proprietary gaming technology The company operates in seven markets under the Betano brand with particularly strong presence in Romania and Portugal In combination with open market purchases, this transaction increased our economic interest in OPAP from 40.4% to 48.2% Economic interest is now equal to ownership interest ● sazka allwyn GROUP#14NYSE listing via merger with CRHC Transaction overview. 14 NYSE-listed SPAC with $828m¹ cash in trust, further supplemented by a PIPE of more than $350m Gary D. Cohn Co-Founder COHN ROBBINS HOLDINGS CORP Intends to effect a business combination with Allwyn² and list the combined entity ("PubCo") on the NYSE Cohn Robbins' strong track record of strategically and financially advising companies would underpin their long-term, stable and strategic relationship with Allwyn ● Transaction summary ● Vice Chairman of IBM since January 2021 Assistant to POTUS for Economic Policy and Director of the National Economic Council: January 2017 April 2018 President, Chief Operating Officer and director of Goldman Sachs: 2006-2016 Additional Goldman Sachs leadership positions incl. Global Co-Head, Equities and Fixed Income, Currency and Commodities; Chairman, Firm wide Client and Business Standards Committee Serves on Systemic Resolution Advisory Committee (SRAC) of the FDIC Board member: nanoPay, Hoyos Integrity, Infinite Arthroscopy, Gro Intelligence, and Starling Trust Sciences; Chairman of the Board of Pallas Advisors Cohn Robbins leadership ● Note: Assumes no redemption from Cohn Robbins SPAC Trust; EUR:USD spot rate of 1.08 applied, sourced from Capital IQ as of 21-Apr-22 1 Subject to potential redemptions 2 Allwyn represents the rebranded operations of SAZKA Entertainment AG, which is the entity that will be subject to the business combination allwyn On closing, Allwyn Entertainment AG (the company to be listed) will be the parent company of the Group Expected market cap for the listed entity of c. $8.0bn/ €7.4bn The listing would enable access to further diversified capital for Allwyn's growth through digitization, acquisitions, and licence tenders 35+ years of investment experience Founded Blue Harbour Group in 2004; Chief Executive Officer from 2004-2020 • Previously Managing Member of General Atlantic Partners from 2000-2004 KKR, 1987-2000, General Partner: played significant role in leveraged buyout transactions and financings and capital markets activities ● Clifton S. Robbins Began his career in the Mergers and Acquisitions department of Morgan Co-Founder Stanley ● sazka allwyn GROUP#15Allwyn selected as preferred applicant for UK National Lottery license tender in March 2022 UK National Lottery Overview ¹ State-licensed national lottery; established in the UK in 1994 Currently operated by Camelot UK Lotteries; licence was granted in 1994, 2001, and 2007 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 ● ● ● • The expected start date for the Fourth National Lottery license, which will last 10 years, is Feb-2024 UK Lottery Market Overview (2021E) 15 Adult Population GDP 1) 2) 3) Lottery Ticket Sales / Adult UK 56.5m €2,665bn €178 Source: Company information, UK Gambling Commission Based on Camelot disclosure as per FY2020A public financial reporting France 55.2m €2,462bn €267 Italy 52.5m €1,775bn €354 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 Financials² NGR (£m) £656 FY18 EBITDA³ (£m) £115 FY18 £22 £684 FY18 FY19 £130 Capex and investment in intangibles (£m) FY19 £25 FY19 £722 FY20 £142 FY20 £16 FY20 £728 GROUP FY21 £140 FY21 £16 FY21 sazka allwyn#16Sazka allwyn GROUP FINANCIAL UPDATE#172021 financial highlights Strong performance exceeding pre-pandemic levels, driving strong de-leveraging ● ● 17 Financial performance above pre-pandemic levels in all segments despite COVID-related restrictions on some businesses FY21 Pro-rata GGR 21% above FY19 - FY21 Pro-rata EBITDA 42% above FY19 Top-line growth and improved margins drive profitability - Pro-rata Adjusted EBITDA margin above 50% Significant de-leveraging throughout the year, approaching 2x Pro-rata Net Debt / Pro-rata Adjusted EBITDA in Dec-21 (vs. 2.9x pre-pandemic. in Dec-19, on pre-IFRS 16 basis per covenants) 1) Pro rata calculation based on economic ownership by segment at the end of Q4'21; not pro forma for subsequent acquisitions of additional interests in OPAP GGR €3,057m Adjusted EBITDA €967m GGR Consolidated GGR €2,479m Consolidated Adjusted EBITDA Pro-rata GGR¹ €2,607m Pro-rata Adjusted EBITDA¹ Adjusted EBITDA €596m €640m +51.5% vs FY20 Pro forma for SAZKA Delta stake acquisition +60.4% vs FY19 +79.7% vs FY20 +60.3% vs FY19 +27.8% vs FY20 +20.9% vs FY19 +63.3% vs FY20 +42.1% vs FY19 sazka allwyn GROUP#18FY 2021 - financials summary Revenues and profitability significantly above pre-pandemic levels despite COVID-related restrictions on some businesses NGR 1,311 Adjusted EBITDA 46.0% 18 FY 19 1) 2) 3) 603 FY19 93.8% 566 Consolidated financials FY19 EBITDA Margin² Adjusted FCF (Adjusted EBITDA - Capex) 91.4% 1,213 Cash Conversion³ FY20 44.4% 538 FY20 492 FY20 1,829 FY21 52.9% 967 FY21 94.8% 917 FY21 CAGR 18.1% CAGR 26.6% CAGR 27.3% Pro rata calculation based on economic ownership by segment at the end of Q4'21; not pro forma for subsequent acquisitions of additional interests in OPAP Calculated as Adj. EBITDA/NGR Calculated as (Adj. EBITDA - Capex)/Adj. EBITDA NGR 960 FY19 Adjusted EBITDA 43.7% 419 FY19 93.5% 392 Pro-rata basis ¹ FY 19 877 FY20 41.6% Adjusted FCF (Adjusted EBITDA - Capex) 90.9% 365 FY20 332 FY20 1,165 FY21 51.1% 596 FY21 94.6% 564 FY21 CAGR 10.2% GROUP CAGR 19.2% CAGR 19.9% sazka allwyn#19Q4 2021 - financials summary Strong performance continued in Q4 despite COVID-related restrictions on some businesses NGR Adjusted EBITDA 47.0% 19 369 Q4'19 123 2) 173 Q4'19 91.5% 159 Consolidated financials Adjusted FCF (Adjusted EBITDA - Capex) 91.6% Q4'19 EBITDA Margin² 328 Cash Conversion³ Q4'20 42.4% 139 Q4'20 127 Q4'20 555 Q4'21 50.3% 279 Q4'21 95.6% 267 Q4'21 Growth 50.6% Growth 61.0% 1) Pro rata calculation based on economic ownership by segment at the end of Q4'21; not pro forma for subsequent acquisitions of additional interests in OPAP Calculated as Adj. EBITDA/NGR 3) Calculated as (Adj. EBITDA - Capex)/Adj. EBITDA Growth 68.1% NGR 261 Q4'19 Adjusted EBITDA 46.8% 122 Q4'19 94.4% 116 Pro-rata basis ¹ Q4'19 220 Q4'20 39.7% Adjusted FCF (Adjusted EBITDA - Capex) 91.5% 87 Q4'20 80 Q4'20 338 Q4'21 46.5% 157 Q4'21 94.4% 148 Q4'21 Growth 29.5% GROUP Growth 28.4% Growth 28.4% sazka allwyn#20Consolidated P&L ● ● 20 Strong GGR growth reflects - Consolidation of CASAG (June 2020) and Stoiximan, the leading iGaming and online sports betting operator in Greece (November 2020) - Strong organic growth, especially in online channel. (lotteries and iGaming) Profitability at structurally higher levels (Adjusted EBITDA2 margin above 50%), reflecting Benefit of restructuring in Austria - Higher profitability of online channel. - Structurally more favourable taxation in Greece after start of new concession in Q4 20 € millions GGR NGR Revenue from non-gaming activities Other operating income Operating expenses Share of profit of equity investees Operating EBITDA Adjusted EBITDA Adjusted EBITDA margin Profit before tax Profit after tax FY 21 3,057 1,829 165 357 (1,475) 79 954 967 52.9% 578 448 FY20 2,018 1,213 143 97 (1,073) 80 459 538 44.4% 260 224 A FY2020 51% 51% 15% 269% 38% (1%) 108% 80% 8 p.p 122% 99% Q4'21 914 555 51 100 (426) 21 301 279 50.3% 172 123 Q4'20 597 328 37 64 (357) 23 96 139 42.4% 139 134 Δ Q4’20 GROUP 53% 69% 37% 56% 19% (12%) 215% 101% 8 p.p 23% (9%) sazka allwyn#21Segmental business highlights - Austria Restructuring program drives profitability ● ● ● ● FY 2021 GGR close to pre-pandemic levels despite casinos and VLT gaming halls being shut in H1, Q4 2021 above Q4 2019 Lotteries continued to perform well, in Q1 benefitting from large jackpots, while somewhat impacted by low. jackpots in Q2 and Q3 iGaming continued to grow strongly (+25% yoy) Casinos impacted by COVID-19 restrictions in Q1-2 and Q4, but delivered revenues at pre-pandemic levels in COVID-19 unimpacted Q3 despite lower tourist footfall ● • Profitability significantly improved due to successful execution of restructuring program (€45m run-rate cost savings) 21 VLT and Casinos iGaming 14% 21% Sports Betting 2% FY21 GGR 63% Lotteries FY19: €1,246m 306 52 285 Q1 % Growth FY19: €211m 39 Q1 % Growth 256 30 284 2019 42 2019 Gross Gaming Revenue, €m 219 Q2 17 Q2 FY20: €1,078m 243 45 - 2020 Adjusted EBITDA, €m FY20: €143m 330 - 2020 303 72 Q3 64 Q3 309 ■2021 75 2021 326 45 FY21: €1,139m Growth: 1.4% 270 Q4 FY21: €211m Growth: 36.4% GROUP 23 Q4 331 61 sazka allwyn#22Segmental business highlights - Czech Republic Continuing online growth and resilient physical retail Strong topline and profitability growth with GGR and EBITDA substantially above pre-pandemic levels • Growth across all products and channels - Numerical Lotteries +19% YOY - Instant Lotteries + 22% YOY - iGaming + 68% YOY - Sports Betting + 63% YOY Strong online growth with 38% of GGR generated online in 2021 (vs. 31% in 2020) ● ● 22 iGaming 23% Sports Betting 3% FY21 GGR 74% Lotteries 62 23 FY19: €286m 77 Q1 % Growth FY19: €95m 22 Q1 % Growth 96 30 67 2019 22 2019 Gross Gaming Revenue, €m 67 Q2 22 101 Q2 FY20: €315m Adjusted EBITDA, €m 31 - 2020 FY20: €82m 71 ■2020 26 75 Q3 20 Q3 97 ■2021 24 2021 86 24 FY21: €408m Growth: 32.9% 96 Q4 FY21: €111m Growth: 6.3% GROUP 18 I Q4 114 25 I sazka allwyn#23Segmental business highlights - Greece and Cyprus Strong recovery after removal of COVID-related restrictions in Q2 ● ● 23 Due to COVID-related closures of physical retail in Q1 and part of Q2, 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 20) Profitability and cash flow supported by structurally more favourable taxation in Greece after start of new concession for largest games in Q4 20 Sports Betting 34% 11% iGaming FY21 GGR 13% VLT and Casinos 42% Lotteries Note; Financials shown are not pro forma for subsequent acquisitions of additional interests in OPAP FY19: €1,620m 396 102 328 Q1 % Growth FY19: €413m 98 Q1 % Growth 174 68 384 2019 97 ■2019 Gross Gaming Revenue, €m 180 Q2 31 396 Q2 FY20: €1,130m - 2020 Adjusted EBITDA, €m 146 FY20: €326m 392 ■2020 391 98 Q3 109 Q3 470 ■2021 180 2021 FY21: €1,510m f 449 116 Growth: 4.5% 231 Q4 FY21: €578m Growth: 58.4% GROUP 88 Q4 1 469 184 1 sazka allwyn#24Segmental business highlights - Italy Strongest ever year ● 24 Revenue and EBITDA above pre-pandemic levels - Record performance in Q1 and Q2, returning to stable levels in Q3 and Q4 Stable high profitability and cash flow generation Numerical Lotteries 100% FY21 Revenue 1. Net revenue from services (IFRS basis), equivalent to Net gaming revenue (NGR) in other segments 129 105 FY19: €489m 103 Q1 % Growth FY19: €396m 83 Q1 % Growth 134 108 124 2019 99 ■2019 55 Q2 43 Revenue¹, €m Q2 134 FY20: €384m Adjusted EBITDA, €m 113 2020 FY20: €311m 113 ■2020 91 107 Q3 88 Q3 115 2021 94 ■2021 124 101 FY21: €500m Growth: (5.8%) 120 Q4 FY21: €409m Growth: (6.9%) GROUP 98 Q4 117 94 sazka allwyn#25Pro rata organic NGR development during COVID pandemic Strong performance in segments not impacted by COVID, COVID impacted segments below 2019 levels in Q4 Segments with limited impact from COVID Organic NGR¹, €m 25 % Growth Growth: 12.8% || Q1-19 Q2-19 Q3-19 1Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Q2-21 Q3-21 !Q4-21 L Austrian Lotteries Czech Republic Greece - Stoiximan ■Italy • 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 basis 1 ● % Growth More impacted segments Organic NGR¹, €m Growth: (9.2%) M Q1-19 Q2-19 Q3-19 Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Q2-21 Q3-211Q4-21 L--- Austria - domestic and international casinos Greece (excl. Stoiximan) Greece physical retail, Austrian casinos - Heavily impacted in H1-21 - Strong recovery in Q3-21, with NGR largely in line with pre-pandemic Q3-19 levels on an organic basis 1 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 - Q4-21 NGR 9% lower than Q4-19 due to impact from COVID-19 restrictions ● % Growth Combined performance Organic NGR¹, €m Growth: 2.5% III Q1-19 Q2-19 Q3-19 1Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Q2-21 Q3-211Q4-21! ■Total NGR Q4-21 Group NGR was 3% above Q4-19 on an organic basis 1 Total Q4-21 Group NGR was 29% above Q4- 19, reflecting both organic and inorganic growth sazka allwyn GROUP#26Strong free cashflow generation Reflects asset light business model and high profitability Adjusted EBITDA 46.0% Capex 26 603 1) 2) 3) 592 FY 19 37 FY19 93.8% Consolidated financials 566 Operating EBITDA Adjusted FCF (Adjusted EBITDA - Capex) 91.4% 44.4% 538 459 FY20 47 FY20 492 FY20 EBITDA Adjustments 52.9% 967 954 FY21 50 FY21 94.8% 917 FY21 CAGR 26.6% CAGR 15.8% CAGR 27.3% FY19 EBITDA Margin² Cash Conversion³ Pro rata calculation based on economic ownership by segment at the end of Q4'21; not pro forma for subsequent acquisitions of additional interests in OPAP Calculated as Adj. EBITDA/NGR Calculated as (Adj. EBITDA - Capex)/Adj. EBITDA Adjusted EBITDA 43.7% Capex 419 409 FY19 27 FY19 93.5% 392 Pro-rata basis ¹ FY 19 Operating EBITDA 41.6% Adjusted FCF (Adjusted EBITDA - Capex) 90.9% 365 331 FY20 33 FY20 332 FY20 EBITDA Adjustments 51.1% 596 588 FY21 32 FY21 94.6% 564 FY21 CAGR 19.2% GROUP CAGR 8.4% CAGR 19.9% sazka allwyn#27Pro-rata net leverage (pre-IFRS 16 basis) Strong de-leveraging throughout the year As at 31 December 2021, Pre-IFRS16 Basis € millions 100% basis Adjusted EBITDA² Cash and cash equivalents and short term financial assets Net debt Pro-rata Ownership (%) Pro-rata Adjusted EBITDA² Pro-rata net debt Pro-rata net leverage Pro-rata priority net debt Pro-rata priority net leverage Pro-rata Net Debt / Pro-rata LTM Adj. EBITDA (Pre-IFRS16) 27 1) 2) 3) 4) 5) 2.9x Q4'19A 2.9x Austria Q1'20A 194 (298) (175) 59.7% 116 (104) (0.9x) (104) (0.9x) 3.2x Czech Republic 3.2x ……. Q2'20A Q3'20A 107 (63) (63) 100.0% 107 (63) (0.6x) (63) (0.6x) 3.9x Greece and Cyprus Q4'20A Includes SAZKA Group a.s., service companies and holding companies Pre-IFRS16 EBITDA; Pro rata calculation based on economic ownership by segment at the end of Q4'21; not pro forma for subsequent acquisitions of additional interests in OPAP Except SAZKA Delta (79.2%) Calculated as pro-rata priority net debt of negative €(263)m divided by pro-rata FY'21 Adjusted EBITDA of €578m Total consideration of €327m 569 (864) 183 40.4% 230 74 0.3x 74 0.3x 3.8x Q1'21A Italy 409 (258) (258) 32.5% 133 (84) (0.6x) (84) (0.6x) 3.1x Q2'21A Corporate¹ (8) (89) 1,434 100% ³ (7) 1,437 N/M (89) 11.9x 2.6x Q3'21A Total 1,272 GROUP (1,572) 1,121 578 1,260 2.2x (266) (0.5x)4 Pro forma for SAZKA Delta stake acquisition: 2.6x5 2.2x Q4'21A sazka allwyn#28Key financing transactions 2021 • In July 2021, SAZKA Group received a capital contribution of €75m from its parent In October, in support of our UK National Lottery bid ● ● ● - A syndicate of banks issued guarantees in support of SAZKA Group's obligations to fund the bid co The bidco entered into a revolving credit facility agreement (currently undrawn) - The guarantee banks benefit from a non-recourse security package in line with SAZKA Group's other secured debt and covenants in line with our bank facility - The RCF is non-recourse to SAZKA Group Subsequent In February 2022, SAZKA Group issued €600m senior secured notes ("SSNs") split between a €200m tap of the outstanding 3.875% SSNs due 2027 and €400m of new floating rate notes due 2028 28 As of 31 December 2021, €100m of SAZKA Group's RCF was undrawn - Proceeds were used to (i) repay €200m Notes due 2022, (ii) partially repay drawings under the RCF, (iii) pay for the acquisition of the minority interest in SAZKA Delta, and (iv) pay for transaction expenses sazka allwyn GROUP#29Sazka allwyn GROUP UPDATE ON CURRENT TRADING#30Update on current trading Solid start into 2022 despite challenging market environment 1 2 3 4 30 COVID-19 COVID-19 related restrictions that were re-introduced in Q4 2021 in Greece, Austria and Italy have continued into Q1 and in some cases Q2 2022 • The impact of these restrictions was significantly less than during previous waves of COVID-19, as demonstrated by our strong performance in Q4 2021 Most of these restrictions have been lifted or are expected to be lifted shortly War in Ukraine No material impact - we do not have any operations in Ukraine, Russia or Belarus and our suppliers have not experienced any material disruptions Macroeconomic environment ● Limited impact of inflation and rising energy prices on our cost structure our largest cost categories linked to revenue (e.g. gaming taxes, agent's commissions) and energy accounting for a small proportion of our costs. Consumer sentiment ● ● The above mentioned macroeconomic and political uncertainties have had some impact on consumer sentiment in general in the countries where we operate, in particular from the middle of Q1 However, we believe that - similar to previous periods of economic disruption - the impact on consumer demand for our products will be limited due to the low price point of our products and low average spend, as well as our large number of regular players. sazka allwyn GROUP#31THANK YOU! sazka allwyn GROUP 1#32Sazka allwyn GROUP APPENDIX#33Summary of adjustments to EBITDA Operating EBITDA Austria Czech Republic Greece and Cyprus Italy Corporate - SAZKA Group Adjustments to Operating EBITDA Austria Czech Republic Greece and Cyprus Italy Corporate SAZKA Group Adjusted EBITDA¹ Austria Czech Republic Greece and Cyprus Italy Corporate - SAZKA Group 33 Standalone, 100% (€m) I 2019 211 95 413 396 (27) 1 1 1 10 211 95 413 396 (17) 2020 147 84 260 311 (30) (4) (2) 66 15 143 82 326 311 (15) 2021 232 107 555 409 (14) (21) 23 71 211 111 578 409 (7) EBITDA Adjustments Breakdown Austria adjustments Casino Linz insurance gain Argentina arbitration gain Other Total Austria adjustments restructuring non-personnel costs Czech Republic adjustments Gain from cancellation of obligation to acquire entity Charitable donation to support disaster relief and other Total Czech Republic adjustments Greece and Cyprus adjustments Hellenic Lotteries minimum gaming tax adjustment Litigation provision COVID-19 related extraordinary costs Other non-recurring costs and write-offs Total Greece and Cyprus adjustments Corporate adjustments - SAZKA Group Inorganic business development costs Arbitration gain Total Corporate adjustments - SAZKA Group 2019 1 ! (16) 17 1 10 10 2020 GROUP (4) (4) (2) (2) 38 5 10 13 66 15 15 2021 (1) (16) (5) (21) 4 4 25 (1) (4) 3 23 20 (13) 7 sazka allwyn#34Dividends and distributions €m Dividends and cash upstreamed - 100% basis Austrian Lotteries CASAG SDHH LOTTOITALIA OPAP SAZKA Dividends and cash upstreamed - pro rata to interest at end of period of which cash of which OPAP dividend taken as scrip Dividends and cash upstreamed - pro rata to interest as of 31 December 2021 of which cash of which OPAP dividend taken as scrip 34 1) 9.45% directly held stake. CASAG also holds a 73.8% stake in Austrian Lotteries Ownership At end of period 9.5% 1 59.7% 79.2% 32.5% 40.6% 100.0% 2019 120 15 351 165 19 191 191 220 220 2020 177 7 237 420 38 280 138 141 307 142 165 2021 GROUP 91 6 316 222 81 286 202 83 287 202 85 sazka allwyn#35Capital structure overview As of 31 December 2021 ● € millions, Q4'21A (Pre-IFRS16) Pro-rata cash and cash equivalents Pro-rata Subsidiary debt Subsidiary pro-rata net debt² €200m Revolving Credit Facility Bank Term Loans €200mm 4% Slovak Notes CZK6bn 5.2% Czech Notes €300mm 4.125% SSNs €300mm 3.875% SSNs Pro-rata total net debt 35 €100m available under the RCF as of 31 December 2021 1) 2) Pro-rata Adjusted EBITDA of €578.3m as of Q4 2021 Including cash at SAZKA Group a.s. Amount (759.4) 496.0 (263.4) 100.0 382.5 199.4 242.1 298.7 300.4 1,259.7 X FY'21 Adj. EBITDA¹ (0.5x) 2.2x sazka allwyn GROUP#36Alternative performance measures This presentation includes non-IFRS performance measures, including 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. Please refer to SAZKA Group's press release and Management's discussion and analysis of financial condition and results of operations dated the same date as this presentation for definitions of these non-IFRS measures and reconciliations to the most directly comparable IFRS measures. Pro-rata ownership % indicates the effective economic interest of the Company in each entity as of the date of our most recent financial statements, which is assumed to have been held throughout the previous twelve months. 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. 36 sazka allwyn GROUP#37Disclaimer This presentation was produced by SAZKA Group a.s. This presentation is not to be reproduced or distributed, in whole or in part, by any person other than SAZKA Group 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, SAZKA Group 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. 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 operations, financial condition, liquidity, prospects, growth, strategies 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 "guidance," "may," "could," "should," "will," "expect," "intend," "estimate," "anticipate," "assume," "believe," "plan," "seek," "continue," "target," "goal," 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/or 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 the actual results of operations, financial condition and liquidity and the development of the industries in which we operate may differ materially (positively or negatively) from those made in or suggested by the forward-looking statements contained in this presentation. In addition, our historical 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 contained herein or to release publicly any revisions to any forward-looking statements contained herein in order to reflect events that occur or circumstances that arise after the date of this document. 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. 37 sazka allwyn GROUP