Investor Presentaiton

The Kentucky Derby Three unique Roads to the Derby for a horse to qualify in one of 20 coveted Derby starting positions United States Horses compete for a Derby starting position through 37 races from September through April Japan Horses compete for one Derby starting position through four Japanese races starting in November European Horses compete for one Derby starting position through seven European races from September to April Growth Potential New customers for the Derby Additional wagering Provides extended marketing opportunity for sponsors 38 CHURCHILL DOWNS INCORPORATED

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