DraftKings SPAC Presentation Deck

Customer LTV Increasing Key Takeaways Each cohort has expanded in both years since the introduction of OSB and iGaming In the first full-year with all products live (i.e. 2019), 2012-2017 cohorts experienced a 4.1x increase in revenue relative to 2017 Size of new cohorts is significantly larger than past cohorts (1) Cohort year determined by user's first paid activity, whether DFS, OSB, or iGaming. (2) 2018 data reflects five months of live OSB and a half of a month of live iGaming. 2014A NEW JERSEY NET REVENUE BY COHORT(1) 2015A 2012-14 2016A 2015 2016 + 231% 2017A 2017 ■2018 Introduction of OSB and iGaming in 2018 +223% (2) 2018A 2019 2019A | 41

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