Investor Presentaiton

Announced Project Capital Investments Paddock Project at Churchill Downs Racetrack Enhancing the Paddock experience for nearly every guest for the 150th Kentucky Derby in May 2024 $185 $200 million with a payback period of < 8 years ■ 3,600 new premium reserved seats and 3,250 new standing room only premium tickets - Will remove ~2,200 existing seats resulting in a net addition of 1,400 new premium reserved seats Upgrading over 3,700 existing premium reserved seats ■ Vision for redesign will improve the flow of guests throughout the Paddock Larger paddock walking ring for viewing the horses prior to the races CHURCHILL DOWNS POPULOU New Paddock Club in the area on the first floor under the Twin Spires that will provide views of the paddock and views - of the tunnel that the horses walk through New hospitality and other amenities for guests in certain areas of the 3rd floor clubhouse seats New terraces including a new Turf Club balcony overlooking the Paddock 21 CHURCHILL DOWNS INCORPORATED

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