Investor Presentaiton

Capital Management Churchill Downs Incorporated vs. S&P 500 10-Year Relative Growth Jan-19 5-Year Relative Growth CAGR 5-Year 10-Year CHDN 22% 24% +171% S&P 500 13% 11% +773% +82% Jan-20 Jan-21 Jan-22 Jan-23 Jan-24 Jan-14 Jan-15 Jan-16 Jan-17 Jan-18 Jan-19 -CHDN 53 ми +176% As of January 30, 2024 Jan-20 Jan-21 Jan-22 Jan-23 Jan-24 -S&P 500 CHURCHILL DOWNS INCORPORATED

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