#1RESPONSIBLY sportsbet 10348 WINNING SPINS LEVERY MINUTE 16 November 2022 PLAYERS CRICKET ONLY BETTOR Flutter 'H B PRIZE RURS (BIGWING) 18431 CAPITAL MARKETS DAY IF YOU KNOW IT DEPOSIT LIMITS 8930392 BACARI 3009030360301 H WHEN THE FUN STOPS STOP 100 დღე E H 118 момлага EVERY NIGHT BONUS GAME Mi FAIDUL WAS DES HL PAYING 10 PLACES AT THE MAS ERS BSi PRIZE BURST გეპრიდ ღიფუნქციური EVA FONDUEL TAKES THE RISK OUT STARS 100 MILLION CHALLENGE FOOTBALL BONUS TIMES დღე Book#2AGENDA 1 Introduction 2 Market Opportunity 3 FanDuel Advantage 4 Flutter Edge 5 iGaming Opportunity 6 FanDuel Financial Trajectory Flutter CAPITAL MARKETS DAY | NOVEMBER 2022 AUENE 2#3לבמה ומהות התחום ההמהוים לתוספות השמפרסנהדריסתור INTRODUCTION Peter Jackson ODE STIINAPAN PENTIN FLUTTER CHIEF EXECUTIVE OFFICER AVIVA STADIUM AUL KERBS RBS ARE RRS KIRBS CAPITAL MARKETS DAY | Flutter NOVEMBER 2022 3#4What I will cover Flutter 1 FLUTTER GROUP Success of world's #1 online gaming business 2 FLUTTER EDGE Group capabilities powering FanDuel's success 3 Flutter CREATING SHAREHOLDER VALUE Group strategy to deliver returns 4#51. 2. Flutter Introduction Unparalleled scale and success of world's #1 online gaming business ... 8.0m PLAYERS¹ £5.5bn REVENUE² Players refer to pro forma Group ex-US Q3 2022 average monthly players LTM pro forma revenue and EBITDA Group ex-US £1.4bn EBITDA² Scale and diversification of the Group excluding the US provides resilient and robust model for growth Flutter LO 5#61. Flutter Introduction extending scale and #1 position in the largest regulated markets --- UNITED STATES¹ #1 INTERNATIONAL Sports Gaming Sports Gaming 42% 18% 40% 22% Multiple top 3 positions UK & IRELAND¹ Online sportsbook market share % Online gaming market share % #1 AUSTRALIA¹ #1 Sports 51% UK&I net revenue market share for FY 2021, Australia GGR market share for H1 2022, US GGR market share for Q3 2022 based on available data in states where FanDuel was live Flutter's largest 15 markets by revenue Flutter 6#71. Flutter Introduction A diverse portfolio of products with a history of innovation REVENUE BY PRODUCT¹ 8% 7% 31% 3% ▪ Sportsbook ■ Casino FY 2021 pro forma revenue 51% ■ Poker ■ Peer to peer sports ▪ Lottery SPORTSBOOK REVENUE BY SPORT 6% 24% 11% 24% 36% ▪ Racing ■ Soccer ■ Basketball ■ American football Other SAME GAME betfair PARLAY+ EXCHANGE SPIN & GO betfair CASH OUT Flutter BET WITH MATES SAME GAME MULTI POKERSTARS झा 2 SUPER6 7#81. 2. Flutter Introduction FanDuel was the premium US asset when PASPA was repealed in 2018 Strong brand with nationwide footprint > $400m invested in the brand 7m registered players 40% DFS market share ~84% of customers betting on sports¹ Cultural alignment Created the #1 US online gaming business FanDuel internal research Includes cost to acquire 95% of FanDuel and accumulated EBITDA losses and capex spend post acquisition to June 2022; equates to $5.8bn Flutter £4.3bn Flutter capital invested in FanDuel to date² 8#9Flutter Introduction Strengths and expectations from 2019 CMD have played out Success to date demonstrates power of our positioning Large market opportunity at 10x size of New Jersey ✔ FanDuel uniquely positioned ● ● Scale, brand, people, and product Access to Flutter balance sheet and expertise Flutter Significant opportunity to turn FanDuel into a meaningful part of Flutter 9#10Flutter Introduction FanDuel's success is underpinned by Flutter's deep expertise and capabilities ılı $ CAPITAL TALENT O o SHARED EXPERTISE Flutter (6) TECHNOLOGY 20+ years of online sports betting and gaming experience 10#11Flutter Introduction In digital markets, being the leader matters Relative market share (#1/2 operators) DIGITAL MARKET LEADERS FREQUENTLY ACHIEVE >2X RELATIVE MARKET SHARE 3.7x 41 11 NETFLIX prime video Market share of #1 and #2 operators in digital markets (%) 2.6x 72 28 Uber lyn 2.5x 59 24 Uber DOORDASH Eats 2.1x 31 15 Spotify Music 1.8x 35 19 Booking.com Expedia Market leaders typically take an outsized share of the profit pool Flutter 11#12Flutter Introduction Optimal group strategy to deliver long term shareholder value ● ● ● ● Invest to win in the US US Huge market opportunity Sustainable leadership position Strong unit economics Profitable in 2023 ● ● ● ● Grow our gold medal positions in our core markets Group ex-US Flutter Build on our network and invest for leadership positions across international markets Diversified, scaled business Historic revenue growth 5-10% net of regulation High EBITDA margin in mature businesses High cash conversion Combination makes Flutter a compelling investment proposition 12#13INTRODUCTION TO FANDUEL Amy Howe FANDUEL CHIEF EXECUTIVE OFFICER Flutter FANDUEL GROUP CAPITAL MARKETS DAY | NOVEMBER 2022 13#14FanDuel Introduction Our management team AMY HOWE Chief Executive Officer FANDUEL GROUP CHRISTIAN GENETSKI President SARAH BUTTERFASS Chief Product Officer MIKE RAFFENSPERGER Chief Commercial Officer ANDREW SHEH Chief Technology Officer ANDY GIANCAMILLI CAROLYN RENZIN Chief Operating Officer Chief Legal & Compliance Officer Driving FanDuel's unique culture and focus on sustainability DAVID JENNINGS Chief Financial Officer TRICIA ALCAMO Chief People Officer 14#151. 2. FanDuel Introduction Diverse product suite available in 48 states #1 SPORTSBOOK ✔ { FANDUEL SPORTSBOOK in 19 States¹ GAMES OF SKILL in 44 states FANDUEL FANTASY CORE PRODUCTS FANDUEL FACEOFF 23 → #2 FANTASY SPORTS Includes FanDuel online sportsbook states (AZ, CO, CT, IA, IL, IN, KS, LA, MI, NJ, NY, PA, TN, VA, WV, WY) and FanDuel retail only sportsbook states (MD, MS, WA, DC) Includes FanDuel iGaming states (CT, MI, NJ, PA, WV) FANDUEL GROUP ( FANDUEL RACING #3 ONLINE CASINO { FANDUEL CASINO in 5 States² RACING & CONTENT in 33 states & 45m homes TVG #1 IN RACING FANDUEL TV 15#161. 2. FanDuel Introduction We have built a clear leadership position in online sportsbook ... ONLINE MARKET SHARE (GROSS GAMING REVENUE¹)² 60% 50% 40% 30% 20% 10% 0% 40% 33% 3% Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Q2-21 Q3-21 Q4-21 Q1-22 Gross Gaming Revenue (GGR) refers to revenue before deduction of promotional generosity Sportsbook market share throughout this presentation unless otherwise stated refers to FanDuel Q3 2022 GGR market share in FanDuel live states based on published gaming regulator reports (AZ and IL yet to report for September 2022). Competitor estimates based on third party regulator and Eilers and Krejcik reports FANDUEL GROUP Q2-22 42% 24% 15% Q3-22 FANDUEL COMPETITOR A COMPETITOR B 16#17FanDuel Introduction and we are #1 in almost every state in which we operate 1. II $428 NY ONLINE MARKET 46% SHARE $244 NJ 50% $181 PA 50% 2022 YTD GGR share; YTD represents 1 Jan - 30 Sep 2022 FANDUEL GROUP $180 IL 43% FANDUEL 2022 ONLINE SPORTSBOOK YTD GGR¹ ($m) $143 VA 45% #1 $102 MI 39% $95 AZ 37% $89 TN 36% $87 IN 38% $60 LA 40% $37 CT 47% $11 WV 43% $65 8 CO 28% $30 IA 29% $1 WY 11% 17#181. FanDuel Introduction We are now a $3bn revenue business ... $0.3bn 45% 42% 2018 FANDUEL NET GAMING REVENUE¹ 78% CAGR ► $3.0bn Net Gaming Revenue (NGR) refers to revenue after deduction of promotional generosity Reported financials, excludes FoxBet. 2022 estimate represents FanDuel estimated revenue per midpoint of US guidance provided by Flutter on 9 November FANDUEL GROUP 66% 23% 4% 7% 2022E SPORTSBOOK İGAMING DFS RACING & SPONSORSHIP 18#191. 2. FanDuel Introduction with significant runway for growth % addressable US adult population in legal states iGaming Sportsbook $9.0bn $4.3bn $4.6bn LTM² 12% 35% See detailed footnotes on page 32 LTM throughout this presentation refers to the 12-month period ending 30 June 2022 FANDUEL GROUP MARKET PROJECTED GGR¹ 4.5x $40.5bn $17.8bn iGaming $22.6bn Sportsbook 2030 Mature Market TAM 25% 80% 19#20The FanDuel Advantage driving our winning position ACQUIRE CUSTOMERS MORE EFFICIENTLY #1 sports betting brand Database of 14m+ sports fans Best marketing assets ‒‒‒‒‒‒‒‒‒‒‒ ‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒ pasaky RETAIN CUSTOMERS FOR LONGER Betting product innovation Best app experience Disciplined promotions BENEFITTING FROM THE Flutter EDGE GROW CUSTOMER VALUE Proprietary pricing and risk Accurate, competitive odds Organic win margin advantage ‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒ 20