Codere SPAC Presentation Deck

Codere Online Total Addressable Market Opportunity ▪ Total addressable market opportunity projected based on GGR per capita for the United Kingdom, Australia, New Jersey, Spain, and Italy Adjusted for GDP per capita and % of population with internet connectivity Data excludes unregulated market Online Sports Betting & Online Casino TAM(¹) ($MM) and GGR Per Capita ($) Online Sports Betting & Online Casino TAM ($MM) GGR Per Capita ($) $5 $625 Mexico (2) $3 $151 Core Markets Colombia $9 $40 Panama Latin America Core Markets (~$1.0bn) (Implied 0.05% of GDP) $28 $87 City of Buenos Aires $3,592 $60 (3) Italy $28 $1,310 Spain (3) Europe (~$5.0bn) (Implied 0.14% of GDP) 1 1 Online Sports Betting & Online Casino TAM ($MM) GGR Per Capita ($) $1,293 $6 Brazil $8bn+ Market Opportunity $6 $261 Argentina (ex.-CABA)(4) Expansion Markets Source: H2GC and regulatory disclosures. Please refer to Appendix for illustrative market sizing methodology detail. Note: EUR converted to USD at 2027E exchange rate of 1.244, per management forecasts. (1) Core Markets TAM reflects 2027E for illustrative purposes. Expansion markets TAM reflects potential market opportunity once regulated. (2) Includes adjustment based on 2019A gambling expenditures as % of total GDP relative to median of UK / Australia / NJ / Spain / Italy, based on management experience and for illustrative purposes. (3) Reflects 2027 estimates, based on 2025 H2GC projections. Spain / Italy assumes 2026 2027 growth based on estimated inflation. Colombia 2026 2027 growth held constant to 2025 % growth. (4) CABA refers to City of Buenos Aires. $13 $242 Chile $4 $124 Peru Latin America Expansion Markets (~$2.0bn) (Implied 0.07% of GD $71 $22 Puerto Rico C IIIIII DD 3 Acquisition Corp. II $12 $40 Uruguay 16

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