DraftKings SPAC Presentation Deck

5 PROPOSED TRANSACTION SUMMARY DRAFT KINGS GAWNE Diamond Eagle Acquisition Corp. is a publicly listed special purpose acquisition vehicle with over $400 million in cash DEAC has agreed to combine with DraftKings and SBTech Values the combined DK and SBT at $2.7 billion Represents an attractive entry multiple of 3.9x 2021E revenue; projected annual revenue growth of 30%+ as states legalize and launch sports betting and iGaming DK founders and shareholders are rolling 100% of their shares; SBT shareholders are rolling ~$450 million of equity value into the public company Post-closing, company will have dual class shareholder structure with super voting rights for co-founder and CEO Jason Robins at a ratio of 10:1; dual class sunsets at certain defined triggers Concurrent with this transaction, DK and DEAC have raised $380 million (1) in committed PIPE shares from select investors at closing After giving effect to the transaction (assuming no redemptions), the company will have over $500 million of unrestricted cash with public equity currency to ensure sufficient capital to fuel growth Note: DraftKings may increase the PIPE size between transaction announcement and close. Includes $76 million in DK convertible notes that convert to PIPE shares. Figures may not foot due to rounding. Assumes no redemptions from DEAC's trust account. Represents SBT cash consideration converted to USD at 1.098 USD/EUR. Represents total seller equity value including value of outstanding vested options. Excludes DEAC warrants and earnout shares. SBTech we know sports ($ in millions) Sources DEAC Cash in Trust PIPE Investment(¹) Sellers' Equity (4) ILLUSTRATIVE SOURCES AND USES(2) SPAC Upfront Founder Equity Total 75% 13% $403 12% 380 2,700 37 $3,519 Uses Cash to Balance Sheet Cash to SBT Shareholders(³) Sellers' Equity SPAC Upfront Founder Equity Transaction Fees Total ILLUSTRATIVE PRO FORMA OWNERSHIP AT CLOSE (2).(5) $554 PIPE Investors 2,700 198 37 $3,519 | 20 32 Sellers' Rollover Equity SPAC Shareholders

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