Investor Presentaiton

Historical Racing Machines Turfway Park Racing & Gaming and Newport Racing & Gaming TURFWAY Park= RACING & GAMING NEWPORT RACING & GAMING ~3 mi. to Cincinnati Turfway Park Racing & Gaming Renovation ■ Up to $148 million investment in a state-of-the-art HRM facility ■ Opened September 1,2022 ■ Will support purse funding for Turfway Park race meets Newport Racing & Gaming (Annex) ■ Located in Newport, Kentucky ☐ Opened Sep. 2022 Oct. 2020 Total investment Up to $200' $372 ($ millions) Property size ~85,000 ~17,000 (sq. ft.) Proximity to ~10 mi. to major market Cincinnati Win/Unit/Day³ $165 ◉ Actual HRMS4 8505 500 HRM capacity 2,500 approval to date $37 million total investment including $6 million expansion in November 2021 Supports purse funding for Turfway Park race meets TURIWAY NEWPORT RICING & GAMING 'Reflects total approved project investment for announced projects and inclusive of $46 million purchase price 2 Reflects total approved project investment for completed projects 3 Average for twelve months ended June 2022 - 456 operational avg. HRMs 4 As of 12/31/21 5 Opened Turfway Park Racing & Gaming with 850 HRMS and the ability to expand to up to 1,200 HRMS CHURCHILL DOWNS 224 Total investment of $200 million, inclusive of $46 million purchase price and $6 million Tapeta track 44 CHURCHILL DOWNS INCORPORATED

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