Allwyn SPAC

Already realized initiatives and tangible upsides underpin Adj. EBITDA forecasts Pro rata adj. EBITDA (€mm) €573 2021A Adj. EBITDA €82 OPAP stake increase ✓ Acquisition of stake in Betano Inorganic Growth €96 ✓ Recovery of physical retail in Greece and Cyprus and Austria ✓ Increased online sales ✓ Resilient physical retail ✓ Cross-sell and up-sell Organic Growth +31% growth €751 2022E Adj. EBITDA Does not include any impact from UK National Lottery (concession expected to begin February 2024)¹ €69 Increased online sales ✓ Resilient physical retail ✓ Cross-sell and up-sell Organic Growth 74 Source: Company information, Management estimates (subject to material change) Selected as Preferred Applicant for UK National Lottery. The award of the UKNL license is currently being contested in a legal challenge. Unless the challenge is successful, Allwyn Entertainment Ltd will be confirmed as the incoming UKNL operator and, subject to a successful period of transition, would become the operator of the UKNL with effect from February 2024 1) +9% growth €819 2023E Adj. EBITDA 4 allwyn

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