#1sh Sportsbet Investor Day 22 September 2021#2Introduction Barni Evans sb#3Introducing our CEO, Barni Evans work at sportsbet Over 20 years experience in commercial, marketing and general management roles, predominantly in media, ecommerce and sports betting. 2018 Sportsbet - Chief Executive Officer 2016 Sportsbet - Chief Commercial Officer 2011 Sportsbet - Chief Marketing Officer 2001 Paddy Power - Director of Marketing 2000 PremiumTV (now StatsPerform) - Marketing Director Flutter sb#4Our ● management team has a track record of success ● Chief Financial Officer 14 years with the Group Finance Commercial analytics Internal audit and controls Commercial and legal Strategy External affairs Nathan Arundell 1 year with the Group Product ● Chief Product and Data Officer Ben Chan ● Pricing and risk management Data Science Special Projects ● ● 6 years with the Group ● ● Chief Executive Officer Value Barni Evans Chief Growth Officer Doug Brown Marketing Premium Customer engagement 9 years with the Group People and culture Safer gambling Customer operations Customer sustainability ● ● Chief Customer and People Officer Tania Abbotto ● ● 8 years with the Group ● ● Flutter sh ● Chief Information Officer Simon Noonan Technology platforms Data platforms Global trading platform Cyber security Customer experience delivery Planning and architecture 4#5Agenda 1 2 Strategic pillars Product Value Marketing 3 4 5 6 Market context > > Strategic pillars: customer results Enablers > People and culture Safer Gambling Technology Financial performance Q&A 5#6The Australian sports betting market presents a compelling opportunity 1 2 3 4 Growing market Total sports betting CAGR >10% over last 5 years; online CAGR of 21% Sports betting still only 17% of Australian gambling market Competitive market drives customer choice and growth Structural change in shape of market has accelerated over last 18 months + 1 2 3 4 Flutter sb Strong Sportsbet position Market leadership drives superior economics Recreational customer base with growing disposable income Optimal global / local capabilities Established and hungry team continuing to innovate#7Sportsbet will extend its gold medal position through delivery of strategic pillars Flutter sb Strategic pillars Incredible products that punters love Enabled by People and culture Underpinned by Personalised value Safer gambling take a sec BEFORE YOU BET Symbiotic relationship with Flutter Group A true entertainment brand Technology 7#8Sportsbet has a symbiotic relationship with the Flutter eco-system Flutter brings together the worlds' premier talent and expertise in sports betting and gaming across a global portfolio of market leading brands Global pricing and risk management capabilities leveraging local experience Shared innovation building local competitive advantages Unparalleled customer insight with 7.6m customers globally Flutter sb 8#9Value creation compounds as we continue to invest for growth Enhanced customer proposition Increased scale and flexibility to invest Higher revenue growth Greater operating leverage Flutter sb 9#10Market context Nathan Arundell sb#11Introducing our Chief Financial Officer, Nathan Arundell work at sportsbet O Over 20 years experience in finance including commercial development, analytics, compliance, procurement, legal and external affairs. 2018 Sportsbet - Chief Financial Officer 2014 Sportsbet - General Manager Finance 2009 Sportsbet - Group Financial Controller 2007 International All Sports (part of Sportsbet Group) - Finance Manager 2003 Hertz - Financial Accountant Flutter sb#12Environment for sports betting has evolved significantly in recent years Advertising allowed Paddy Power acquires controlling stake in Sportsbet £34m ($63m)¹ 2009 10 key operators² Product fee High Court Paddy Power acquires remaining shares in Sportsbet £72m ($135m)¹ 2011 case + 2013 Product fee increases accelerate 2015 6 new entrants National Consumer Protection Framework (NCPF) 2017 Point of consumption taxes introduced 2019 Notable introductions to the sector Point of consumption taxes increase 2021 Flutter sb 6 remaining today Regulatory and tax hurdles in the period from 2009 to date have led to significant industry consolidation ¹ Any "$" sign within this presentation denotes figures expressed in Australian Dollars. Acquisition costs include post-tax benefit of GST refund of $25m awarded to Sportsbet in August 2011 relating to pre-acquisition trading. 2Key operator defined as material competitors live in market. 12#13Regulations and taxation underline importance of scale Sportsbet enjoys Federal and state regulations create complexity... Australian Government GOVERNMENT OF WESTERN AUSTRALIA NORTHERN TERRITORY GOVERNMENT Australia's sports betting regulatory landscape COUTE Government of South Australia Tasmanian Government Queensland Government NSW GOVERNMENT VICTORIA State Government ...plus 28 individual racing and sporting bodies with integrity agreements to comply with High taxes favour scale operators Fees and taxes as a % of net revenue¹ 25.1% 9.1% 13.0% 2017 Racing product fees Point of consumption tax² Other 43.3% 9.4% 14.6% Flutter sh 17.2% 2020 Sport product fees GST ¹2017 presented on a reported basis, 2020 presented on a pro forma³ basis. 2 Effective rate of point of consumption tax was 10.5% of GGR4 in 2020. ³ Flutter's combination with The Stars Group completed on 5 May 2020. Throughout this presentation, pro forma figures include BetEasy as if it was part of Sportsbet from the beginning of the relevant period. 4 GGR refers to gross gaming revenue, being the total of customer staking less winnings paid out to customers. GGR does not indude any deduction for free bets or other promotional activity. 13#14Sports betting remains in a healthy growth phase Sports betting only 17% of the Australian gambling market Australian gambling market share by channel¹ Gaming 52% Lotteries 12% Sports betting 17% Casinos 18% 4.2 54% 46% Online sports betting CAGR > 21% from 2015-20 2015 Total Australian sports betting market Includes online and retail ($bn)² 4.5 58% 42% 2016 4.8 62% 38% 2017 5.1 67% 33% 2018 Retail Online 5.4 71% 29% 2019 6.9 86% 14% Flutter sb 2020 2015-2020 CAGR Total market +10.3% Online +21.1% -13.6% Retail ¹ Total GGR by channel 2020 (year ending 30 June), source: H2 Gambling Capital's GGR data (1 September 2021 release). 2 Total online and retail sports betting GGR per competitor public filings and internal estimates. 14#15Step change has resulted in 12ppt market share gain since 2019 16.0% 2015 19.4% 2016 Sportsbet pro forma share of total sports betting market¹ 22.4% 2017 27.8% 2018 30.3% 2019 +12.3 ppt 40.3% 2020 Flutter sb 42.6% H1 2021 ¹GGR share of total market per internal estimates and competitor public filings. 2015 to 2020 presented on a pro forma basis. 15#16Sportsbet demographics will enable growth in value of existing customers Penetration 32% 28% 24% 20% 16% 12% 8% 4% 0% Age 18-24 1 Sportsbet penetration by age and average stake per active ¹ 1 25-34 35-44 Penetration 45-54 Stake per active 55-64 2 65+ Flutter sb 1 More than one in four Australians aged 18-34 have a Sportsbet account 2 Customers aged 35 and older stake >2x customers aged 18-34 Retaining 18-34 cohort will provide substantial long-term growth as their spending power increases ¹Penetration refers to the estimated proportion Sportsbet customers represent of the Australian population. Data compiled using Sportsbet market survey July 2021, n=1986. Active refers to any customer who placed a bet with Sportsbet during period July 2020 to June 2021. Average stake per active refers to the average annual stakes per active customer during the same period. 16#17Significant opportunity remains to grow Sportsbet actives Known betting preferences of Australian sports fans¹... Sports fans Pay to watch Sport Bet with any bookmaker Have a Sportsbet account Active with Sportsbet² Number of Australian adults (millions) 15.2 9.8 6.8 3.8 2.1 Flutter sb ...creates growth opportunities to pursue 3m highly engaged sports fans yet to convert to sports betting 3m sports betting fans to win over to Sportsbet 1.7m inactive customers to reactivate ¹Number of adults who are sports fans, pay to watch sport, bet with any bookmaker and have a Sports bet account per Sportsbet market survey July 2021, n=1986, Flutter internal estimates. ²Refers to any customer who placed a bet with Sportsbet during period July 2020 to June 2021. 17#18Strategic pillars: Product Ben Chan sb#19Introducing our Chief Product and Data Officer, Ben Chan work at sportsbet 20 years experience in digital leadership across strategy, product, data, finance, trading, risk, go to market and operations. 2020 Sportsbet - Chief Product and Data Officer 2013 Envato - Chief Operating Officer and Acting CEO 2010 McKinsey - Engagement Manager 2007 Goldman Sachs - FX Sales Trader Flutter sb#20Four pillars underpin Sportsbet's product excellence Understanding customers Focused on Delivering what they want Global pricing and risk management Structural margin advantage Core experience Relentless improvement FRE Wrap around content Enriched entertainment Innovation Reinventing betting Flutter sb 20#21Pricing and risk management expertise creates structural margin advantage ● ● ● ● ● Global pricing and risk management capability 20 years' experience 700 staff across Flutter Local expertise leveraged globally. Core product Bespoke in-house trading models (including same game and same race multis) Ever-expanding product range Operating model 24/7 risk management and live trading Frictionless end-to-end customer experience Leveraging global betting liquidity to improve price efficiency Flutter sb Structural margin advantage 21#22Continuous improvement augments our customer's core experience ● ● ● ● ● Speed 1 step quick bet Page load times of core journey under 400ms¹ Instant verification for 81% of customers² App crash rate reduced by 98.3%³ Multi bet in-running: Fast Code feature Auto settlement for 99.7% of bets4 Promo payout time - 92% faster5 Withdrawals -6 times a day, 7 days a week Easy login E Promotions paid out in under 1 minute ● ● ● ● Navigating limitless content Home page personalised based on preferences Quick access menu Customisable favourites Direct access to generosity More intuitive search engine 3:48 sportsbet PLAYOFFS 3+LEG NBA SAME GAME MULTI 1 Leg Fails, up to $50 BACK in Bonus Bets!" "SGM odds must exceed $2. Eligible for three claims per match T&Cs apply Racing Mens US Open Frances Tiafoe v Felix Auger-Alias... sh $41.65 12 NEW Specials Mates MultiBuil... AFL Upcoming Sports > 5m Popular Now NRL Melbourne Storm v Manly Sea Eagles 0 10 Sep 19:50 THREE REFUNDS Sports NRL Moscow Liga Pro Sidorin, Valery v Zhurba, Nikolai My Bets Bet Slip 2 0 6m 4G AFL Port Adelaide v Western Bulldogs 11 Sep 19:40 Official Wagering Partner of the NBA WC Quals NCAAF Ch NCAAF FBS Champions NRL Penrith Par South Syd e 11 S Personalised carousel Model driven trends ● ● Flutter sb Beyond the bet Cash out Share-a-bet Event reminders Bet success progress tracker View my bets on racecard Re-bet from pending bets Safer gambling $ Pending bets is the most visited page on our app after home-screen ¹For the 6 months ending 29 August 2021. 2For the 12 months ending 31 August 2021. ³iOS crash rate H1 2021 vs H1 2019, ¹H1 2021. 5Saturday Racing, period 21 August to 4 September vs H1 2021. 22#23Complementary content enriches the entertainment experience Stats, insights and tips to help customers place a bet with ease and confidence ● Expert tips: one click bets Expert and novice form Player hub Sports stats and insights. Betting from tips Easy multi-builder functionality B PLAYER HUB 51 KEY STATS Expert tips < 9:52 Caulfield R30 R40 Win or Place 1400m R8 Moet & Chandon Memsie Stakes 4.40 Tips Flucs Expert Tips Top Tip 10 Runner R50 R60 R70 Home sh $92.44 4 Same Race Multi 2 Saturday 3 Tracks Bet Returns ALL RACES... 4.20 Key Stats Racing 1. Fifty Stars (6) W: 59.0kg J: John Allen F: 20872x T: Tom Dabernig 2. Behemoth (9) W: 59.0kg J: Ms Jamie Kah F: 1437x1 T: D.R. Jolly My Bets Bet Slip 0 0 11.00 ✓Race overview by Best Bets Sports Trifecta Speed Map R80 R9¹ A 16:45 Expert Tips Home Soft (5) Fixed Odds Resumes. Group 1 horse. Eye-catching run in the All Aged then was placed in the Hollindale. 4.20 Cou LIVE 7 Win Place : Bet Live 9.50 31.00 7.50 First 1.75 More Further entertain customers with free to play (FTP) games and novelty bets ● Flutter sb FTP games: Pick em' for NBA, NRL, Racing Million dollar tipping¹ Expanded novelty markets sports EARLY PAYOUT BIDEN WINS ¹Million Dollar Tipping is a free to play tipping competition for AFL and NRL games. 23#24Innovating for the next generation with Same Game Multis (SGM) 4% 2016 Launched for Aussie Rules 24% 2017 Expanded to NBA and Rugby League % of Sportsbet actives using SGM by year 28% 2018 Expanded to Soccer and NFL Same market multi and multi freedom Odds select/ deselect 36% 2019 Expanded to MLB and T20 cricket Power play Player hub 44% 2020 Customer experience improvements (Popular SGM) Insurance offer Flutter sb 55% SAME GAME MULTI 2021 Popular SGM homepage Pre-packaged Same Podium Multi 24#25We have delivered a uniquely differentiated experience, our customers love Our SGM execution is unique... Leading through experience Best in class journeys and merchandising Pre-packaged Popular SGM. Owned models give us an edge Biggest range of markets Competitive pricing where it matters Owned infrastructure No commissions to 3rd parties ...creating a superior experience... 9:03 sportsbet CATS B AFL Cars Geelong 1.37 Racing Greater Western Sy... 3.14 Popular Same Game Multis - AFL GIANTS 03 Sep 19:20 Home 10.75 4 legs sh $92.44 2 Geelong (-4.5) Geelong (-4.5) Geelong (-3.5) Geelong (-4.5) Geelong v Greater Western Sydney 03 Sep 19:20 Sports Racing My Bets Bet Slip 0 0 Add to Bet Slip @ 10.75 World Cup Qualifiers - Europe FIFA World Cup... Finland v Kazakhstan Sports 28734 punters Line-3rd Quarter Only Line Last Quarter Only Quarter Time Line Line - 2nd Quarter Only FIFA World Cu si Republic of Irela RACING v Azerbaijan LIVE SGM Bet Live Brish 1.6 Luxembour More ...that customers appreciate 77% Easy to place a multi bet¹ 57% Flutter sb 54% 49% 40% 37% Sportsbet Comp. 1 Comp. 2 Comp. 3 Comp. 4 Comp. 5 ¹Percentage of customers who selected brand in response to question "Which of these online betting companies do you think this statement applies to, [Easyto place a multibet]" Data compiled from Sportsbet Brand Monitor-scores from active users of each brand for May to July 2021 period (Males aged 18-54). 25#26Reinventing social betting with Bet With Mates Context ● Leveraging the social occasion ● Ground-breaking in many ways Ability to pool funds in an easy-to-use shared wallet ● Cultural phenomena of group betting - especially in pubs Historically only done using cash Bet With Mates creates virtual alternative Network effect on engagement and retention New and unique behaviour to analyse 9:52 BET WITH MATES a All Jack's Group 01 Your Share (10%): $10.00 Pending Won Jack O changed You placed a bet Utah Jazz @ 1.50 CAZZ Utah Jazz V Miami Heat Match Betting You placed a bet Jack's Group 01 $100.00 € Stake $2.00+ $3.00 Bonus View in Our Bets Utah Jazz @ 1.50 CAZZ Utah Jazz V Miami Heat Match Betting Home You placed a bet Stake $2.00+ $3.00 Bonus View in Our Bets Utah Jazz @ 1.50 GAZZ Utah Jazz V Miami Heat Match Betting Lost Racing Sports Our Bets Bet Slip 0 0 LIVE Bet Live 10 8 mins Won +$7.50 Won +$7.50 8 mins Won +$7.50 More Flutter sb Delighting customers "If we weren't already loyal Sportsbet punters, we are now" "Congratulations Sportsbet. You are now my only Betting App. Bet With Mates is awesome." "Loving Bet With Mates - what a great idea" 26#27Customer and product trends have lifted margins over time Mix and capability improvements... ● Product mix (multis) Customer mix (recreational) Pricing (improved accuracy) Risk management (sophisticated tooling) Sportsbet gross win margin % over time ¹ 7.0% ...drive higher margin... 2009 +9.1ppt 16.1% 2020 1H21 ...enabling reinvestment Product development -St Flutter sb Generosity Marketing ¹ Gross win margin represents GGR as a percentage of total customer staking. 2009-2014 presented on a reported basis, 2015-2020 presented on a pro forma basis. 27#28Strategic pillars: Value Doug Brown sb#29Introducing our Chief Growth Officer, Doug Brown work at sportsbet More than 20 years experience in digital leadership including strategy, marketing and product management across sports betting, financial services and advertising. 2020 Sportsbet - Chief Growth Officer 2018 Sportsbet - Chief Product Officer 2016 Sportsbet - General Manager Product 2015 Sportsbet - Head of Customer Online Marketing 2010 Medibank - General Manager Digital Flutter sb#30Using our scale advantage to redesign generosity X X X 2017 3 BIG TRACKS FIRST 4 RACES CAULFIELD, RANDWICK & BELMONT IF YOUR 2ND OR 3RD $50 BACK IN BONUS BETS *First cash Fixed Odds Win or E/W bet on each race. Excl NSW, SA & WA. Conditions apply. 12 RACES One size fits all Easy to copy Inefficient Leveraging fixed-cost investments On platform merchandising Innovation Technology platforms Machine learning Dedicated multi-functional team Bigger database enabling superior customer economics Flutter sb 2021 POWER PRICE selections, just for you, every day! HUGE odds on EXCLUSIVE $BET RETURNS BONUS BACK ON ANY RACE Simply tap 'Bet Return' in the bet slip ATLANTA @ PHILADELPHIA NEW! JUSTICE REFUND We've refunded all bets on the 76ers! YOUR POWER PRICES - Bet Slip 1.NATURE STRIP Bet Return ADE Personalised Hard to copy Efficient 8.00 5.50 23.00 O May 21 76ers 30#31Real-time personalised prices delivering the right value to the right customers ● Historical data and real-time inputs... Four connected foundations Proprietary machine Customer data Power prices system Enabled by learning models Real-time decision making system Technology platform Content distribution 5-10 personalised daily offers delivered to customers from total available selections of c.500k¹ 180 million personalised enhanced odds yearly² GIANTS ...create huge odds, just for you Greater Western Sydney v Richmond 13 Aug 19:50 SUCTIMOND Greater Western S... 3.30 2.21 Richmond 1.67 Your Power Price Max Stake $500 Learn more 1 11:45 1 AFL 5 Power Prices Grab your exclusive odds on your favourite events and popular selections! Port Adelaide v Melbourne Scheduled: Today 7:40PM Kysaiah Pickett Any Time Goal Scorer - 1st Half AFL Flutter sb sh $34.27 13 Port Adelaide 1-39 Big Win Little Win Port Adelaide v Melbourne Scheduled: Today 7:40PM NRL Manly Sea Eagles 13+ Big Win Little Win One Day Internationals Manly Sea Eagles v Canberra Raiders Scheduled: Today 7:50PM Home NRL Canberra Raiders 36 To 40 Winning Margin Manly Sea Eagles v Canberra Raiders Scheduled: Today 7:50PM Racing Sports My Bets Bet Slip 1 0 Reveal Price Reveal Price Reveal Price Reveal Price Reveal Price LIVE Bet Live More Using sample of 5 consecutive Saturdays from 7-Aug-21 to 4-Sep-21. 2Assumed based on daily run rate from 25-Aug-21 to 31-Aug-21. 31#32Efficiency and effectiveness through bet return tokens at scale sportshet Q $1 $1 12 Bet Returns No win? No worries! Get your punt back using Bet Returns ANY 5 RACES Get up to $50 back in Bonus Bets if your selection runs 2nd or 3rd 9:41 AM Home $500.00 Today's racing". Minimum 8 runners. 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Improved efficiency Enables further reinvestment Over 22 million tokens allocated in a month² ¹ Post event settlement, payout time in August 2021. 2August 2021. 32#33'Science' can never replace old-fashioned customer empathy Empathy that is uniquely Sportsbet QUADDIE SAVER SATURDAY MOONEE VALLEY If your Quaddie doesn't win, get up to $100 back in Bonus Bets. MORE INFO NEW 1st Quaddie placed only. Early Quaddie excluded. Refunds processed after last race. T&Cs apply. AFL-ROUND 21 $ JUSTICE REFUND WE'VE REFUNDED ALL BETS ON PATRICK DANGERFIELD AFTER HE WAS RULED OUT EARLY THROUGH INJURY *Refund in Cash. Same Game Multis and Singles bets included. T&Cs apply. PERFECT FOR W BET WITH MATES TT AFL ● ● Leveraging our strengths Continually seeking new ways to empathise Delivering at speed through. empowered teams. Being part of the social conversation in sport Leveraging 2.1 million customers as advocates Flutter sb Driving loyalty "You guys are to be congratulated. What an honest & fair gesture that in all honesty you did not have to do" "@sportsbetcomau - The people's betting agency." "This is an outstanding gesture by SB showing some compassion to what was an absolute farce of a result. By far the best sports betting agency" 33#34As our gross win margin has risen, we have reinvested in generosity 12% 2016 15% 2017 Generosity % of GGR¹ >2x 23% 2018 24% 2019 Customer generosity as a % of GGR has more than doubled since 2016 26% 2020 Flutter sb ¹2016-2018 presented on a reported basis, 2019-2020 presented on a pro forma basis. 34#35Strategic pillars: Marketing Doug Brown sb#36Sportsbet is a genuine entertainment brand AN ICONIC AUSSIE BRAND THAT'LL BRING EXCITEMENT TO LIFE FOR GENERATIONS TO COME Elite Average Games AUS AUS A BAR AUS portshe Grubs Local Cricket (Think vs Say) GI S LOCAL CRICKET THINK SAY Flutter sb VS 36#37Marketing scale advantage Our significant marketing spend... 2020 media spend estimates¹ ($m) Sportsbet Competitor 1 Competitor 2 Competitor 3 Competitor 4 Competitor 5 40.7 33.6 26.3 78.2 65.8 139.3 ...allows us to engage mainstream audiences... Top 10 TV programs in 2020² Audience (millions) AFL Grand Final NRL Grand final State of Origin 3 Australian Open The Block State of Origin 2 Lego Masters State of Origin 1 MasterChef Married at First Sight 3 1.9 2.1 1.9 1.8 1.7 1.6 1.6 1.6 1.6 3.0 sh sh sb sh sh sh ...and still be more efficient than competitors Marketing as % of net revenue³ Sportsbet Competitor 1 Competitor 2 Competitor 3 Competitor 4 Flutter sh Competitor 5 No data available 12.0 15.6 15.6 19.5 30.9 ¹Source: ADEX, Nielsen Sport and internal estimates (includes above the line media, digital and sponsorships spend). Includes media spend for Sportsbet brand only. 2 Sports bet was the TV broadcast sponsor for 6 of the top 10 TV programs in 2020. Source: Nielsen Metro TV (AQX). Sportsbet pro forma 2020 marketing spend, competitor spend based on most recent annual public filings and internal estimates. 37#38Leveraging partnerships to bring products and value to life AFL.com social fantasy integration AFL Fantasy @AFLFantasy- Aug 19 The boys want to add to the $521.50 they've already donated to Froozo MND using @sportsbetcomau's Bet With Mates. Warnie thinks he can finish the season in a positive way. A couple of Port boys and a couple of his Dons are his hot tips. BULtions R 1:2K views 9:271 Search RICHMOND SAME GAME MULTI $1.35 KARLAMON Thursday, 18 March 2021 AFL XAVIER DUURSMA 2 LEGS $25@ sportsbet 2021 Toyota AFL Premiership AFL.com 2 3 4 5 6 7 AFL 7:25 pm my time MCG sportsbet Bringing SGM to life with deeply integrated content SAME GAME MULTI B O ANY TIME GOAL SCORER ANY TIME COAL SCORER $5.00 0:32/1:51 ) *** FILTER 9 10 11 $3.14 CARLTON sportsbet BET NOW AFL THE FRONT BAR TV Front Bar MICK'S MULTI 1 LIONS TO WIN BY 25+ PTS v FREO 2 GWS v BOMBERS TO BE 171.5+ TOTAL PTS 3 LIGHTS ON TO WIN IN ASCOT R1 egration ROOS TO LEAD AT HALF TIME v PIES TOTAL ODDS $31 sportsbet Ⓡ $1.57 $1.88 $3.75 $2.87 LIVE & FREE L TV broadcast SAME GAME MULTI MORE MARKETS MORE OFFERS BIGGER ODDS sportsbet AFL TV broadcast match integration SAME GAME MULTI MELB BRISBANE (+5.5) CLAYTON OLIVER CHRISTIAN PETRACCA 3 LEGS AGE sport LIONS sportsbet LINE 30-DISPOSALS 25-DISPOSALS $4.50 Flutter sb Amplified across Tier 1 partners RACING.COM NRL AFL NBL- 38#39Harnessing automation and digital smarts to maximise reach 12:58 sportsbet Racing NRL Matches > NRL St George Illawarra Dragons v Penrith... 13 Aug 18:00 St George Illawarr... Penrith Panthers. 9.00 1.07 sh $0.00 2 SCM 7.10 . 4 legs sb Sydney Roosters Joseph Manu Popular Same Game Multis - NRL Daniel Tupou Sitili Tupouniua Brisbane Broncos v Sydney Roosters 13 Aug 20:05 My Bets 0 Sports Add to Bet Slip @ 7.10 RACING Bet Slip 0 648 punters Head to Head Anytime Tryscorer Anytime Tryscorer Anytime Tryscorer Sportsbet platform Brisbane I 4.5 SGM BI ! Real-time 1:04 systems to co... See more SNOWATCHO 10 DAY OUTLOOK 22nd 21st 23 20th 19th 18th Like NRL 7.10. 4 legs News Feed Sydney Roosters Joseph Manu Daniel Tupou Sitili Tupouniua 17th Popular Same Game Multis - NRL sportsbet Comment Watch 16th 15th 14th 13th 1 Comment 1 share Brisbane Broncos v Sydney SGM Roosters 13 Aug 20:05 f Add to Bet Slip @ 7.10 Perisher Manor Marketplace Events Share 653 punters Head to Head Anytime Tryscorer Anytime Tryscorer Anytime Tryscorer Facebook feed JOIN NOW Notifications Menu Flutter sb Driving advantage through marketing technology Popular SGM extended across Snapchat and Facebook. Broadens Sportsbet's reach In-house technology publishes in real-time Drives competitive advantage 39#40Strategic pillars: customer results Barni sb#41Product, value and marketing attracts more customers A proven model Relentless product improvement Targeted value delivered to customers Entertainment-led, mass-reach brand Ever-increasing, recreational customer base 288 2015 Driving consistent customer growth 370 2016 Average monthly players ('000s)¹ +21% CAGR 435 2017 470 2018 629 2019 Flutter sb 794 2020 906 H1 2021 ¹2015-2018 presented on a reported basis, 2019-2020 presented on a pro forma basis. 41#42Customers have an excellent relationship with the brand +12ppt 59% 47% Superior customer loyalty % of customers that only bet with one brand¹ 39% 35% 28% 27% 21% Sportsbet '18 Sportsbet '20 Competitor 1 Competitor 2 Competitor 3 Competitor 4 Competitor 5 2020 50% % customers likely to recommend brand to mates² Sportsbet Highest customer advocacy 44% Flutter sb 44% 36% 35% 32% Competitor 1 Competitor 2 Competitor 3 Competitor 4 Competitor 5 ¹ Online sports betting only, source: Sportsbet market tracking survey, December 2020n = 1666, December 2018 n=1877. 2 Percentage of customers who responded 9 or 10 out of 10 when asked "how likely are you to recommend [BRAND] to your mates?" Data compiled from Sportsbet Brand Monitor-scores from active users of each brand for May to July 2021 period (Males aged 18-54). 42#43The enablers of long-term, sustained success Strategic pillars Incredible products that punters love Enabled by People and culture Underpinned by Personalised value Safer gambling take a sec BEFORE YOU BET Symbiotic relationship with Flutter Group Flutter sb A true entertainment brand Technology 43#44Enablers: People and culture Tania Abbotto sb#45Introducing our Chief Customer and People Officer, Tania Abbotto work at sportsbet In a career distinguished by clarity of ambition and delivery of transformational change, Tania brings 20 years experience leading customer, strategy and people teams. 2020 Sportsbet - Chief Customer, Sustainability and People Officer 2019 Sportsbet - Chief Strategy Officer (Integration Director) 2016 Sportsbet - Chief Customer and People Officer 2012 Sportsbet - Director, People and Culture 2010 Coles Group - National Supply Chain Human Resources Manager to General Manager HR, Liquor Flutter sb#46Sportsbet people make it possible to achieve unparalleled results ● ● ● ● ● ● ● Highly aligned, exceptionally capable people Purpose-led and aligned to strategy Leadership depth¹, diversity and industry expertise Leveraging Flutter talent pool Technology and data capacity and specialisation Architected and irreplicable culture Actively designed, future-fit culture Customer first Ambition propelled by curiosity Proven resilience and flexibility ● ● ● ● ● Team member advocacy 92% feel ambitious and driven to succeed² 87% recommend Sportsbet as a great place to work² 95% approve of executive leadership³ + Unparalleled delivery Flutter sb BetEasy migration in 89 days Integrated two businesses Grew core business Attracted retail customers ¹ Including >6 years experience of top 50 leaders. 2 Sports bet MySay survey: Culture Amp (July 2021). 3 Glassdoor (September 2021). 46#47Enablers: Safer Gambling Tania Abbotto sb#48Our Safer Gambling commitment is long-term and goes beyond 2021 2015 'Take a break' First TV campaign Safer Gambling (SG) team 2017 2018 SG program review by University of Sydney Successful NCPF¹ advocacy Case management committee Responsible Wagering Australia industry body 24/7 customer risk monitoring 2019 Predictive risk model Prediction-driven intervention Steering committee 2020 SG integrated into employee bonuses Account manager commissions removed Minimum age limit for account management Flutter sb 2021 Deposit limit campaign Personalised messaging & intervention Marketing suppression Advocate for credit card ban ¹ National Consumer Protection Framework. 48#49The safe enjoyment of our products underpins our SG approach ST! Ⓒ ● People-centric Dedicated expertise • Measured and rewarded in remuneration • Driving SG aware decisions Elevated awareness Our four-pillar SG approach: Consistent communication Enhancing customer, community, and stakeholder awareness ● ● Data-led Proprietary group technology Machine learning Enabling proactive intervention Systematic experience design Flutter sb All customer approach Delivering safer products, messaging and promotions Ensure consistent, high quality safer gambling measures across operators € 49#50Targeting prevention by elevating awareness and data-led identification S ● ● ● ● ● ● Elevated awareness key for entire industry Sportsbet awareness strategy Improve stakeholder engagement Communicate consistently with customers and the community Collaborate with academic researchers 2021 'Take a sec before you bet' SG campaign Rationale: Prevention is key to customer experience irrespective of operator Purpose: Raise awareness to drive behavioural change Intended impact: Normalise positive behaviour Call to action: 'Set a deposit limit, whoever you bet with' Investment: $15m in Marketing in 2021 M Predictive models Data-led approach allows pro-active identification • Flutter proprietary models • Machine learning determined risk scores Digital scale Email Real-time alerts Flutter sb Pre-determined thresholds e.g. large first deposit Real-time response & SMS Push notification Progressive intervention Call Human impact 50#51SG systematically integrated into core customer experiences SG messaging Communicating safer gambling to our customer base ● 9:04 ● sportsbet Q$90.38 ARE YOU BETTING WITHIN YOUR LIMITS? DURANGE OF OPTIONS TO AURAGE YOUR CARLING Racing Specials Horses MultiBull. AFL NRL My Bets Bet Sip 20 Sports Direct correspondence SG email campaign Promotional emails D Big Brot Soccer On channel notifications • On platform In app pop-up notifications • Personalised Push ● DEPOSIT LIMITS Set a limit on the amount of money that you can deposit over 24 hours, 1 week. 14 days, 28 days, 60 days. Find out more TAKE A BREAK You can choose to take a short break from 1 to 30 days and give yourself some time away from betting Your break will start immediately once confirmed Find out more Flutter sb Messaging suppression Customers predicted to be at-risk are excluded from all targeted marketing X × Reducing communication for customers who are potentially at-risk 51#52Enablers: Technology Simon Noonan sb#53Introducing our Chief Information Officer, Simon Noonan work at sportsbet Over 20 years in senior technology roles with international experience in a wide range of industries including banking, wealth management, e-commerce, gaming and consulting. 2013 Sportsbet - Chief Information Officer 2010 ANZ - Head of Technology, Digital and Unassisted Channels 2008 ANZ - Head of Technology, Wealth Aust/NZ 2005 ANZ - Head of Business Services and Project Delivery 2002 Aviva - Senior Manager, Advisor Online Portal Flutter sb#54Evolution of Sportsbet technology has been progressive 2015 Stabilised core platforms Insourced core platform capabilities Embedded Agile product delivery Foundation 2019 Migrated all platforms to the cloud Fully redesigned customer facing channels Personalised and model-driven experiences Transformation 2021+ Flutter sb Leveraging global platforms Utilising Al and machine learning Next-generation customer experiences Acceleration Scalable technology designed to enable innovation, speed to market and differentiated customer experiences 54#55Proprietary technology enables flexible, reusable and scalable solutions Customer facing Backend Android Pricing & Risk Mgmt Sportsbook 2013 iOS Account Mobile Web Generosity Infrastructure Customer Data Group pricing distribution platform Not established Desktop Analytics/Insights Sportsbet Android Pricing & Risk Mgmt Sportsbook 2017 iOS Account Mobile Web Generosity 3rd Party Infrastructure Customer Data Group pricing distribution platform Desktop Analytics/Insights Global Android Pricing & Risk Mgmt Sportsbook 2020 iOS AWS Shared Code Base Account Web Generosity Cloud Group pricing distribution platform Customer Data Analytics/Insights Flutter sb Owning our technology stack enables ● ~40% increase in delivery speed ¹ Greater flexibility to develop new products and features 10x dynamic scaling² BetEasy migration in 89 days ¹ H2 2019 vs H1 2018. Time periods selected considering the significant technology development completed during the intervening period. ²Refers to bets per minute capacity: scaled to 10k for non-peak period weekdays, certified to 100k for peak periods in 2020. 55#56Global pricing and risk management platforms drive global and local benefits ● ● Sports model development Proprietary in-house model development Automated pricing capabilities (auto-trader) Global pool of specialist engineers Global capabilities Global shared code repository for all brands Standardised model development framework Global engineering practices and tools Flexible and scaled platforms • Re-usable, flexible, cloud-enabled platforms ● • Globally aligned architecture ● Global interdivisional network ● ● ● ● Faster model delivery to all brands Iterative innovation & co-creation of global platforms Global 24x7 support Optimised model speed and performance Reduced pricing errors for the Group Real-time global interdivisional connectivity LOCAL PRODUCERS FOR GLOBAL CONSUMERS FANDUER POKERSTARS Flutter sb betting sky&gaming PADDYPOWERbetfair adjarabet.com sportsbet 56#57Best-in-class engineering transforming customer experiences ● ● ● ● ● Re-engineered customer facing platforms... Customer experience redesigned Dynamic scaling Fault tolerant engineering Re-usable code Full stack automation Optimised code base Data and services integration 12:41 sportsbet AFL Specials 12 UP OR MORE AT ANY BREAK-YOU WIN! Before MULTI BUILDER Het How Next To Jump Evangeline Do... Addington Race 9 Race 9 * Bet Live -15m Upcoming Sport WTA Bogota Varvara Lepchenko v Amanda Anisimova 3m 32s Hame Racing WTA Lugano. Stefanie Voegele v Viktorija Golubic-R... 03:01 LIVE a $100.00 - Queen Elizabeth Stks: Winx, Happy Clapper & Hartnell! Racing F MULTI SYD V MEL -10m 28s Jockey Megab... Jockey Megabets - Vyong 2019/04/11 8m 32s 17 Sports WTA Bogota Kristie Ahn v Maria Camila Osorio Serra... 11:16 LIVE NEA Election Charles Town Race 8 NBA Same Game Multi: Minnesota Timberwolves At Denver Nugg... > See All > Live Bet Live -9m 28s See All > Indian Santosh... Sikkim FA v Karnataka 18m See All > ATP Houston O... Bryan / Bryan v Galloway/Lammons 11:53 LIVE ... Mare 19:55 sportsbet Q MORE INFO WATCH SKY LIVE NOW RACING Beton & watch Auss, UK meing hwan Spome Kawasaki Race 9 Racing Specials Horses Greys Harness Next to Jump > Horses > Kawasaki Race 9 34 ^ Home Popular Now Gosford Race 4 -53s SKY1 2m 6s -53s Greyhounds > Gosford Race 4 FC After SKY1 2m 6s sh $43.32 4 Racing Gosford Race 4 Warragul Race 5 Monbetsu Race 10 3 Mandurah Race 1 Sports NEW Mates SKY1 2m 69 SKY1 29m SKY2 6m Sports LIVE My Bets Bet Sp 0 3 Echuca Race 7 for Tips MultiBull Kawasaki Race 9 Kawasaki Race 10 24 Bet Live Warracul SICY $ SK 4m 6 More -53 34m SIC Jm ● ● Flutter sb ● ...driving market leading customer experiences • Reduced platform operating costs ● 400% more content on homepage¹ Core journeys c.60% faster² • Improved platform resilience and scalability 100% re-use of core services architecture¹ "Ease of use" rated 25% higher by customers ³ ¹H2 2019 vs H1 2018. ²August 2021 vs February 2019. 3Percentage of customers selecting [Sportsbet] when asked "Which of these online betting companies do you think this statement applies to [Have an easy to use a pp]" Data compiled from Sportsbet Brand Monitor-July 2021 vs March 2019 (Males aged 18-54). 57#58Enhanced scalability sustained our advantage during unprecedented growth Enabling significant volume growth... Peak volume, bets per minute ('000s)¹ 24 2018 +158% 35 2019 62 2020 Peaked at 1190 bets per second Corresponding 72% reduction in downtime ...while increasing platform stability Platform stability (uptime %)² 99.0% 2018 +0.7ppt 99.5% Flutter sb 2019 99.7% 2020 1 Refers to bet placement. 2Excludes scheduled BetEasy customer migration downtime in 2020. 58#59Financial performance Nathan Arundell sb#60Sportsbet has reached unprecedented scale 4.2 Underlying market growth 2015 Australian total sports betting market ($bn)¹ Online market +21%² 2016 4.8 4.5 III 10%² 5.1 2017 2018 5.4 2019 6.9 2020 Plus increased market share 30.3% 2019 Sportsbet market share³ 12ppt 40.3% 2020 42.6% H1 2021 0.7 Resulted in a step change for Sportsbet 0.9 Sportsbet revenue ($bn)³ 2015 2016 32%² Flutter sb 1.1 1.4 1.6 2.8 2017 2018 2019 2020 I 1.5 H1 2021 ¹ Total online and retail sports betting GGR per competitor public filings and internal estimates. 2 Compounded annual growth rate. ³GGR, 2015 to 2020 presented on a pro forma basis. 60#61Retained customers up to 2019 have generated consistent returns ● ● Established track record of sustainable growth 2012 2013 Revenue by year of acquisition¹ 2014 pre-2013 2013 2014 2015 2015 2016 2016 2017 2017 2018 2018 Driven by high customer retention and loyalty Growing yield through higher margin products 2019 2019 ● ● Strong retention and revenue growth per customer 2013 до 2014 Gross revenue of 2013 cohort¹ 2015 Gross revenue 2016 Flutter sb 2017 2018 --Actives --Gross revenue per active 2019 Increase in revenue as customers become more engaged Strong retention in actives following initial year 1 churn ¹ Sports bet GGR only. Excludes BetEasy customers in all periods. 61#62With a step change in scale driven by stay at home restrictions... AMPS Sportsbet customer growth demonstrates continued momentum ¹ 1,400 1,300 1,200 1,100 1,000 900 800 700 600 500 400 2 Jan Feb Mar Apr May 1 2019 Jun 2020 Jul 2021 ¹3 Aug Sep Oct Nov Dec In a rapidly changing environment 1 Flutter sb 3 Stay at home restrictions drove exceptional growth, especially via retail customer acquisition 2 Significant proportion of migrated customers retained into Q1 Larger player base maintained and grown through relatively normal 2021 period, significantly ahead of prior years ¹ Pro forma AMPs for each of the years 2019-2021. AMPS refers to Average Monthly Players and represent the average number of players who have placed a bet during the month in a reporting period. 62#63...and seamless BetEasy migration securing that step change ● ● ● ● sb BET EASY 89% of active customers retained 12 months post-migration Increased revenue by 6% from migrated customers >$100m in cost synergies Value and product innovation acquired Key partnerships and capabilities acquired -11% Actives BetEasy customer metrics¹ +9% Stake Pre-migration Post-migration Flutter sb +6% Net revenue ¹ All metrics shown compare the performance of BetEasy customers in the 365 days prior to migration to Sportsbet (9-Sep-19 to 7-Sep-20) to the corresponding period post-migration (8-Sep-20 to 7-Sep-21). 63#64Staking growth and expanding margin enables value investment... 12.1% 10.4% 2015 Investment has created a stable, sustainable net revenue margin Gross win margin vs net revenue margin¹ 12.0% 10.0% 2016 12.5% 10.6% 2017 Gross win margin 11.5% 9.0% 13.1% 2018 || 10.1% 2019 Net revenue margin 15.4% 11.1% 2020 12% 2016 While customer generosity has more than doubled since 2016 Generosity % of GGR² 15% 2017 23% 2018 24% Flutter sb 2019 26% 2020 ¹2015-2020 presented on a proforma basis. 22016-2018 presented on a reported basis, 2019-2020 presented on a pro forma basis. 64#65...creating an unrivalled ability to invest... Generosity and marketing investment doubled in 4 years ● Generosity and marketing spend ($m) 2017 +150% ■ Marketing 2020 Generosity Significant increase in targeted generosity investment as marketing spend is redirected Focused on tier 1 marketing assets Significant technology investment to build scalable platforms Technology spend ($m) 2017 +94% Flutter sb 2020 Absorbing growing peak volumes Enabling product innovation Infrastructure investments enhancing data analytics ¹ 2017-2020 calculated on a pro forma basis. 65#66...and with clear evidence of the flywheel in action ● ● Scale enables greater operating leverage ● Cost base restructured to absorb increased taxes Marketing reallocated into targeted generosity Increased efficiency of marketing spend Operating cost base continues to scale Ongoing benefits of leveraging Flutter resources • All without compromising top line growth ● Demonstrated by increased EBITDA margins Distribution of net revenue¹ 26.8% 22.0% 20.4% 30.8% H1 2017 EBITDA ■ Opex 47.0% 10.0% 8.7% Flutter sb 34.3% H1 2021 Marketing Cost of sales ¹ 2017 calculated on a reported basis. 66#67All of the above results in strong EBITDA growth and increasing margin EBITDA ($m) 800 700 600 500 400 300 200 100 0 22.4% 128 2015 21.8% 160 2016 Pro forma EBITDA and EBITDA margin¹ 27.8% 253 2017 EBITDA 27.1% 297 2018 EBITDA margin 23.7% +$142m POCT cost² 297 2019 29.6% 588 2020 Flutter sb 34.3% 361 H1 2021 35% 30% 25% 20% 15% 10% 5% 0% EBITDA margin ¹2015-2020 presented on a proforma basis. 2POCT = point of consumption tax. 67#68Recap Barni Evans sb#69Summary Key points Winning in key battlegrounds: product, value and marketing Attractive customer profile Local customer focus while leveraging Flutter resources and IP Topline growth and improved efficiency Positive outlook Headroom for growth (market and share) Enviable market position driving scale economics Focus on sustainable growth Flutter sb Capable and hungry team All combine to make Sportsbet the largest and fastest growing operator in Australia 69