DraftKings SPAC Presentation Deck

National CAC Efficiencies Realized As We Scale National Scale matters: • CAC improves significantly with shift into national advertising • Single platform allows for ongoing acquisition in advance of OSB legalization • Operators with greatest population have outsized advantage Notes: (1) eCPM calculated as average CPM divided by marketing efficiency. (2) Marketing efficiency is the percentage of impressions that reach live DK states. Average CPM Marketing Efficiency(2) ILLUSTRATIVE OSB MARKETING EFFICIENCY AT SCALE Average Effective Cost per Thousand ("eCPM")(¹) $120 Local -$90 -75% $100 -70% Reduction in eCPM National (30% OSB Live) -$30 -30% $40 National (75% OSB Live) -$30 -75% | 23

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