DraftKings Investor Day Presentation Deck

Cohort customer and revenue retention in OSB-only states is similar-to-better than customer and revenue retention in multi-product states Customer Cohort OSB Only: Total Customer Retention (1) ● Cumulative Customer Retention 88% ● 79% 90% Year 1 (N = 20) OSB Only: Total Revenue Retention (2) Net Revenue Per Retained User Growth (vs. Prior Year) 100% Economics State Level Economics Note: For further details on the definitions of customer retention and revenue retention and on the specific cohorts included in the analysis, refer to page 49 in the appendix of this presentation. (1) Includes OSB customers for the 20 cohorts with four or more consecutive quarters of OSB data. (2) Includes OSB net revenue for the two cohorts with eight full quarters of OSB data. (3) Excludes Oregon B2B. DraftKings Sportsbook replaced the Scoreboard app on January 18, 2022. (4) Year 1 is defined as the first 4 full quarters following a cohort's acquisition quarter. For example, Year 1 is Q1 2019 to Q4 2019 for a customer acquired in Q4 2018. (5) Year 2 is defined as the 4 full quarters following a cohort's Year 1. For example, Year 2 is Q1 2020 to Q4 2020 for a customer acquired in Q4 2018. 38% Year 2 (N = 2) Year 1 (N = 2) Year 2 Revenue Indexed to Year 1 (N = 2) Our customer retention improves every year of a cohort. These cohorts achieve >100% revenue retention year over year as retained customers increase their spend on our platform As of FY 2021, we have 90 quarterly cohorts across 14 states (3) since launch of OSB in Q3 2018 • 20 of 90 cohorts are in OSB only states and have four or more consecutive full quarters of OSB retention data • 18 of the 20 cohorts have between four and seven consecutive full quarters of OSB data ("One Year Cohorts"), allowing us to measure Year 1 customer retention Two of the 20 cohorts have between eight and eleven consecutive full quarters of OSB data ("Two Year Cohorts"), allowing us to measure Year 1(4) customer retention, Year 2(5) customer retention, and Year 1 to Year 2 revenue retention • Applying our experience with DFS cohorts to OSB and iGaming cohorts, customer retention is likely to increase every year and flatten out at ~100% 124% Enterprise Economics | 28

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