Allwyn SPAC

The gaming industry is highly regulated Not only are licenses required for gaming operations in each operational jurisdiction, but the scope of regulations is broad and includes for example: types of games, maximum bets, channels of distribution and marketing, taxation etc. ✔✔ Management and boards are also subject to very onerous probity tests and a high level of security and disclosure ✔✔ Allwyn holds all required licenses for its games offered across its jurisdictions, with majority of lottery licenses up for renewal between 2025 and 2030 The incumbent usually has a significant advantage when it comes to renewal: Allwyn has a 100% track record of license renewal. In some cases, there is an upfront license payment. However, the gaming tax payments and good causes contributions paid during the license tenure by far exceed any fees paid upfront. Allwyn believes a strong operator, able to grow gaming revenues, is the most important criteria for governments when selecting an operator 2 44 1 Disruption of operations in the case of change of operator Risks of performance/business plan of a new operator without prior track record in the specific country/segment 3 In some cases, the ownership of brands, distribution network, and other infrastructure are also barriers of entry 2 allwyn

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