Callaway Investment Thesis and Business Transformation Overview
TOPGOLF: THE CATEGORY-DEFINING TECH-ENABLED GOLF
ENTERTAINMENT BUSINESS
TOPGOL
Callaway
VENUES
Cutting-edge entertainment facilities
with attractive economics and
expansion capabilities
TOPTRACER RANGE
Transforming the traditional driving
range experience and televised golf
through a capital light, high margin
model
MEDIA
Facilitate engagement across the
Topgolf ecosystem through games and
sponsorships
~30M
Venue visits projected
in 2022
450
Potential global venue
addressable market
2%
Penetration in Toptracer
Range addressable market
37M
World Golf Tour
members
Total fan touchpoints¹
140+
Televised golf tournaments that
feature Toptracer
124+M
PROVEN BUSINESS SIGNIFICANTLY OUTPERFORMING EXPECTATIONS
Note: Data as of December 31, 2021.
1. "Fan touchpoints" refers to the connections Topgolf has to members of its fan base. Topgolf calculates its fan touchpoints at any point in time based on the total number of venue memberships, social media subscriptions, short message service ("SMS")
subscriptions, e-mail subscriptions and lifetime installs for Topgolf, Toptracer and WGT apps. A fan of Topgolf's who engages with Topgolf across more than one of these areas, such as by having a venue membership, following Topgolf on one or more social media
platforms, subscribing to Topgolf's SMS messages and emails, and/or installing one or more of Topgolf's apps, will account for a corresponding number of fan touchpoints.
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