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Investor Presentaiton

Reconciliation of Monthly Adjusted EBITDA by Segment One Month Ended One Month Ended (in thousands) January 31, 2020 February 29, 2020 March 31, 2020 January 31, 2019 February 28, 2019 March 31, 2019 Adjusted EBITDA by Segment: Lincoln $ 7,370 $ 8,553 $ (1,422) $ 10,424 $ 10,306 $ 14,489 Tiverton Rhode Island 1,512 2,506 22 997 1,412 1,754 8,882 11,059 (1,400) 11,421 11,718 16,243 Delaware Biloxi Other (1) Adjusted EBITDA 1,834 1,966 (970) 1,989 3,693 (394) 1,467 2,739 4,830 (2,074) (1,056) (1,468) (1,267) (1,783) (1,485) $ 10,631 $ 15,662 $ (4,232) $ 11,621 $ 12,674 $ 19,588 (1) Contains the Black Hawk Casinos, which contributed $0.7 million and $(0.3) million of adjusted EBITDA during the one month ended February 29, 2020 and March 31, 2020, respectively. TRWH A-5
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