Investor Presentaiton

TwinSpires TwinSpires Growth Strategy Grow core TwinSpires horse racing customers Leverage linkage to Kentucky Derby to efficiently acquire customers ■ Utilize in-house development team to continue to enhance superior technology platform ■ Utilize analytics on customer behavior to drive efficient customer acquisition, retention, and activation Expand pari-mutuel content and technology services to B2C sports betting platforms ■ Seamless delivery of casual betting pari-mutuel platform with single wallet integration ■ Provide technology interfaces and ancillary services necessary to accept and settle pari-mutuel wagers via CDI's United Tote ■ Provide services necessary to acquire pari-mutuel racing content ■ Potential for sports wagering sponsorships of the Kentucky Derby Key Metrics $ in millions 2022 3Q'23 Revenue $442 $112 ■ Will generate incremental content fees for CDI racetracks VPY I VPQ (4)% +5% Regarding sports betting, CDI plans to ■ Maintain its retail sportsbooks Adjusted $114 $34 EBITDA ■ Continue its exit of B2C online sports betting and casino business VPYL VPQ +38% +9% ■ Monetize online sports betting market access rights TwinSpires is the premier pari-mutuel content and online technology provider 38 CHURCHILL DOWNS INCORPORATED

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