Codere SPAC Presentation Deck

(3) (4) (5) 7 Comparable Company Benchmarking Codere Online valuation multiples for 2022 and 2023 below reflect revenues from Core Markets only (excludes Expansion Markets) TEV / Revenue Multiples TEV/2022E Revenue TEV/2023E Revenue 2.3x 1.7x TTTTTT (1) C codere wm TEV/2022E Revenue TEV/2023E Revenue 0.07x 0.05x 12.0x TTTTTT (1) C codere 8.5x 25257 DRAFT KINGS 0.21x Growth-Adjusted TEV / Revenue Multiples (4) 0.17x 7.4x DRAFT KINGS US High Growth B2C Operators 4.4x изпист INTERACTIVE 5.1x 0.02x 0.03x (5) изпис 19 INTERACTIVE 3.1x GOLDEN NUGGET patog ONLINE GAMING 0.11x US High Growth B2C Operators 0.06x GOLDEN NUGGET 5.1x ONLINE GAMING TEV/2022E Revenue (5.1x Median) TEV/2023E Revenue (4.3x Median) POINTSBET 4.3x 0.05x 0.06x Represents TEV /2022E revenue multiple or TEV / 2023E revenue multiple divided by 2020-2022 CAGR or 2020-2023 CAGR, respectively. Growth-adjusted multiples based on 2021-2022 CAGR and 2021-2023 CAGR due to limited available disclosure. POINTSBET (2) 4.1x (2) 3.4x Growth-Adj. TEV/2022E Rev. (0.09x Median) Growth-Adj. TEV/2023E Rev. (0.06x Median) RUSH STREET INTERACTIVE 0.09x 0.09x RUSH STREET INTERACTIVE T Source: Company filings, S&P Capital IQ, and Wall Street research. Prices as of 6/18/2021. (1) Codere Online valuation based on pro forma equity value of $497mm at $10.00 per share, less $144mm pro forma cash, assuming no redemptions. 2022E and 2023E revenue assumes no redemptions. 2023E revenue based on estimates for FY2023 ending 6/30/2023 due to limited availability of analyst estimates for FY2024 needed to show calendar year 2023 revenue. (2) Based on trading price as of 6/18/2021. Gamesys announced that it had reached agreement on an acquisition by Bally's on March 24, 2021. I 4.2x 3.8x Flutter 0.45x 0.38x Flutter EU Mature B2C Operators 3.0x 2.8x Σntain 0.35x 0.35x 2.6x Entain 9 EU Mature B2C Operators TEV/2022E Revenue (2.8x Median) TEV/2023E Revenue (2.6x Median) 2.4x gamesys group 0.26x 9 (3) C Growth-Adj. TEV/2022E Rev. (0.31x Median) Growth-Adj. TEV/2023E Rev. (0.31x Median) 0.24x (3) gamesys group 1.9x 1.8x 888 HOLDINGS 0.27x 0.28x DD 3 Acquisition Corp. II 888 HOLDINGS 9

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