Investor Presentaiton

Historical Racing Machines Historical Racing Machine Overview - Kentucky Nine racing licenses have been awarded by the Kentucky Horse Racing Commission and are each allowed to have a main facility and one "annex" facility within a 60 mile radius of the licensed racetrack ■ CDI holds four racing licenses - Churchill Downs Racetrack, Oak Grove, Turfway Park, and Ellis Park Churchill Downs Racetrack is permitted to have Derby City Gaming and Derby City Gaming Downtown as an - - annex Turfway Park has Newport Racing and Gaming as an annex CDI has announced an annex for Ellis Park in the Owensboro, Kentucky area CDI has the option to pursue an additional annex under the Oak Grove license in Kentucky ■ Purse contributions from the HRM facilities attract more and better-quality horses resulting in better- quality racing content which strengthens the foundation of the entire horse industry in Kentucky and benefits TwinSpires Keeping Kentucky Strong Quack His RICHES Louisville's Own DERBY CITY GAMING 4520 POPLAR LEVEL ROAD lassMutual MRAM LONGINES WOODFO P&C MAN BODER Purses Paid to Horse Owners at CDRT 17% Average Annual Growth Rate $ in millions Derby City Gaming opens $85.0 $86.2 $67.7 $58.6 $46.1 $38.8 CHURCHILL DOWNS CHERCHEL GOWNS DERBY CITY GAMING 'Derby City Gaming operates at Churchill Downs Racetrack's ancillary training facility in Louisville, Kentucky 2018 2019 2020 2021 2022 50 30 2023 CHURCHILL DOWNS INCORPORATED

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