Investor Presentaiton

The Kentucky Derby International Growth Strategy 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 Europe Horses compete for one Derby starting position through seven European races from September to March TOKY ミックインルッジェー OKYO OURSE The 37 Growth Potential New international customers for the Derby ■ Additional wagering ☐ Provides extended marketing opportunity for sponsors 27 22 John Hoy/Newmarket Racecourse CHURCHILL DOWNS INCORPORATED

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