DraftKings Investor Day Presentation Deck

Our financial disclosures provide sufficient information to validate our payback periods on an LTM basis LTM Acquired Paid New Actives Calculation LTM Acquired Paid New Actives Customer Acquisition Cost Calculation Customer Acquisition Cost Gross Profit Payback Periods Approximate Payback Period (In Years) LTM MUPS Current Period Months Played Per Average Player LTM ARPMUP LTM MUPS Prior Period Customer Cohort Economics x 12 Months Per Year Acquisition Marketing Spend" Acquired Paid New Actives Player Retention Rate Customer Acquisition Cost Months Played Per Average Player State Level Economics Enterprise Economics LTM Gross Margin Note: See page 46 for example calculations for each LTM period in FY 2021. (1) Over the last four LTM periods, our variable acquisition marketing spend was 77% to 81% of our total marketing spend and on average 79%. We expect this percentage to be in the low 70s in 2022 and going forward as we invest in fixed S&M and mix into more efficient national media spend. | 31

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