3Q20 Earnings Call Presentation

Historical Hold-Normalized Adjusted Property EBITDA¹ ($ in US millions) 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 Macao Operations² Reported $754 $786 $858 $765 $755 $811 $67 ($312) ($233) Hold-Normalized $754 $820 $845 $765 $757 $788 $84 ($285) ($240) Marina Bay Sands Reported $419 $362 $423 $346 $435 $457 $282 ($113) $70 Hold-Normalized $419 $390 $433 $392 $396 $417 $270 ($112) $59 Las Vegas Operations Reported $76 $100 $138 $136 $93 $120 $88 ($122) ($40) Hold-Normalized $97 $125 $131 $146 $106 $120 $88 ($117) ($3) Sands Bethlehem³ Reported $33 $24 $33 $19 Hold-Normalized $33 $24 $33 $19 LVS Consolidated Reported Hold-Normalized $1,282 $1,303 $1,272 $1,359 $1,452 $1,442 $1,266 $1,322 $1,283 $1,259 $1,388 $1,325 $437 $442 ($547) ($203) ($514) ($184) 1. This schedule presents hold-normalized adjusted property EBITDA based on the following methodology: - for Macao operations and Marina Bay Sands: if the quarter's rolling win percentage is outside of the 3.15%-3.45% range, then a hold adjustment is calculated by applying a rolling win percentage of 3.30% to the rolling volume for the quarter. - for Las Vegas Operations: if the quarter's baccarat win percentage is outside of the 18.0% -26.0% range, then a hold adjustment is calculated by applying a baccarat win percentage of 22.0%, and if the quarter's non-baccarat win percentage is outside of the 16.0%-24.0% range, then a hold adjustment is calculated by applying a non-baccarat win percentage of 20.0%. - for Sands Bethlehem: no hold adjustment was made. - for all properties: gaming taxes, commissions paid, bad debt expense, discounts and other incentives are applied to determine the hold-normalized adjusted property EBITDA impact. 2. Adjusted property EBITDA presented here reflects adjusted property EBITDA from The Venetian Macao, Sands Cotai Central, The Parisian Macao, The Plaza Macao and Four Seasons Hotel Macao, Sands Macao and Ferry Operations and Other. 3. The company completed the sale of Sands Bethlehem on May 31, 2019. Results of operations include Sands Bethlehem through May 30, 2019. Sands 37

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