Allwyn SPAC

Expected strong balance sheet Pro rata financial leverage¹ I 2.6x 0.5x 2.1x 2021PF Pro forma pro rata financial leverage¹ Adjusted for expected primary proceeds² 1.9x 0.4x I 1.5x 2022PF 1.1x 0.4x I 0.7x 2023PF Standalone pro rata financial leverage¹ Unadjusted for expected primary proceeds Expected strong de-levering profile, driven by: Expected robust Adj. EBITDA growth Expected significant free cash flow generation Deleveraging shown does not assume material investment in M&A or tenders Expected significant available balance sheet capacity for lottery license tenders and M&A create financing and strategic optionality Expected leveragable stable cash flows Willingness to operate above 3x leverage¹ on temporary basis for M&A 4 Source: Company information, Management estimates (subject to material change) 29 Note: Allwyn may opportunistically access the debt capital markets in the near future and use a portion of the proceeds to refinance certain of its outstanding debt. Allwyn does not anticipate that any such capital raise will affect its net debt except for non-material fees customary for such financings Refers to leverage at Sazka Entertainment AG. Defined as Adj. net debt / LTM Adj. EBITDA; net debt position as of Dec-YE. Includes expected primary proceeds of $331mm / €290mm from SPAC transaction, and €322mm of convertible notes expected to be outstanding at transaction close. 2022PF and 2023PF leverage include the impact of expected free cash flow and a €170 mm one-time dividend prior to closing 1) allwyn

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