Investor Presentaiton

Churchill Downs Racetrack and Derby City Gaming DERBY CITY GAMING HOTEL DERBY CITY GAMING Downtown CHURCHILL DOWNS Opened Sep. 2018 Dec. 2023 Total investment $78' $902 ($ millions) 8 mi. to Proximity to Downtown major market Future Organic Growth Downtown Opportunity Louisville Louisville Retail sports Sept. 2023 betting Dec. 2023 Sept. 2023 Win/Unit/Day³ $4404 $1875 Historical Racing Machines Derby City Gaming & Hotel ■ Operates at Churchill Downs Racetrack's ancillary training facility in Louisville, Kentucky - Décor pays homage to our deep history in horse racing Center bar with large format televisions, two food venues, and outdoor gaming patio on the north side of the facility ■ Opened expanded gaming floor late 2022 and a new hotel and Restaurant Oliver's Chop House & Bourbon Bar in June 2023 ■ Supports purse funding for Churchill Downs Racetrack meets ■ Retail sports betting began September 7, 2023 Derby City Gaming Downtown Opened a new $90 million HRM entertainment venue in Downtown Louisville in December 2023 ■ Supports purse funding for Churchill Downs Racetrack meets HRMS 1,303 490 HRM capacity approval to date Reflects total investment for completed project 2 Reflects total anticipated investment for project 3,000 3 Based on the pari-mutuel wagering data from the Kentucky Horse Racing Commission 4 Based on average of 1,284 operational HRMs for twelve months ended December 31, 2023 5 Derby City Gaming Downtown opened December 6, 2023; Win/Unit/Day reflects the average of 415 operational HRMs for December 6, 2023 through December 31, 2023 DERBY CITY GAMING HOTEL 31 CHURCHILL DOWNS INCORPORATED

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