Investor Presentaiton

Consistent Double-Digit Net Revenue Growth 13% Annual Revenue Growth from 2021 to 2022 $ in millions $216 $1,597 2021 Live & Historical $ in millions $(16) Sports & Casino Exit(1) TwinSpires $63 Gaming Case for Investing $(50) Arlington $1,810 All Other & Eliminations 2022 49% Quarterly Net Revenue Growth from 3Q'22 to 3Q'23 $123 $383 $59 $5 Sports & Casino Exit(1) 3Q'22 Live & Historical TwinSpires | CDI exited the direct online Sports and Casino business in IQ'22 $2 Gaming 8 All Other & Eliminations $572 3Q'23 CHURCHILL DOWNS INCORPORATED

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