Slide 1: Earnings Call Quarterly Statement Q3 2024
ZEAL \ ~ EARNINGS CALL Quarterly Statement Q3 as of 30 September 2024 6 November 2024 @) Tipp24 ZEAL GED) EETsses ZEAL Troumhaus
Slide 2: Content
CONTENT CONTENT | - Financial Update CONTE NT - Strategic Progress - Updated Guidance - Share Repurchase Offer CONTENT. ©. ZEAL @ Tpp24 ZEAL GED) Gass ZEAL Troumhaus 2
Slide 3: Summary
SUMMARY
Slide 4: Summary: new customers, dream house raffle, guidance, repurchase
Number of new customers at an all-time high Dream house raffle successfully launched Increased guidance for FY2024 Announced share repurchase offer
Slide 5: Financial Update
FINANCIAL UPDATE
Slide 6: Good jackpot environment - peaks in 9M 2024
GOOD JACKPOT ENVIRONMENT - 6 PEAKS IN 9M 2024 VS. 5 PEAKS IN 9M 2023, NO JACKPOT IN Q3 2024 In€m LOTTO éaus49 (new), in€m Average Peak max. (ne) 80 Geen er (old) i 40 ; 30 i 10 10) 20 10 9M ‘23 1b a 1 6 n 6 2 2% 31 3 4 4 SI 56 61 6 7% Draw In€ Eurojackpot in€m Average Peak 120 x x mai max 49 6 @® Ti
Slide 7: Income Statement 9M 2024 - Condensed
INCOME STATEMENT mwas | oma HANGE REVENUE 120,952 86,012 +40.6 - Lotteries 107,591 79418 +355 - Games 6,826 1,216 +4613 TOTAL COSTS OF OPERATIONS 86,423 -63,927 +35.2 Personnel expenses 23,341 15,195 453.6 Other operating expenses ~63,166 48,796 429.4 Marketing expenses 36,923 30,691 +203 Direct ope
Slide 8: Growth of lottery billings driven by growth in user base
GROWTH OF LOTTERY BILLINGS DRIVEN BY GROWTH IN USER BASE AND HIGHER BILLINGS PER USER MONTHLY ACTIVE AVERAGE BILLINGS PER USERS (MAU) USER, ABPU (Lotteries) (Lotteries) in thousands in€ G7%) 1.347 [=>) 1.153 61,02 61,31 9M '23 9M '24 Strong increase in the customer base and creased lavelof(customens
Slide 9: Gross margin increased substantially
GROSS MARGIN INCREASED SUBSTANTIALLY GROSS MARGIN NEW REGISTERED COST PER LEAD, CPL (lotteries) CUSTOMERS (lotteries) (Lotteries) in thousands +56% 807 +2.0 pp. 44,5” 46,81 24% 250 | _, 518 35,54 9M '23 9M '24 9M '23 9M '24 9M '23 9M '24 eros Ss margin iicreaseq/GueHomiargay Strong jackpot situation
Slide 10: Cost per lead remains low
COST PER LEAD REMAINS LOW In€ Q1 Q2 Q3 Q4 Full Year 2024 2023 45.52 Temporary increase in competitive pressure in online marketing during a high jackpot Launch of major offline (TV, billboards) advertising campaign for LOTTO24 to increase brand awareness * Brand campaign is already leading to positi
Slide 11: Strategic Progress
STRATEGIC PROGRESS
Slide 12: Update on progress towards strategic goals for 2024
UPDATE ON PROGRESS TOWARDS STRATEGIC GOALS FOR 2024 Our Strategic Goals for 2024 Our Progress YTD 2024 Improve billings ° Optimization of billings margin by increased share of high-margin products eMcilincstnarcinvicniorteresimercvedtonoestniGsl exe Ne eer margin in lottery and expansion of service
Slide 13: Higher lottery billings margin driven by improved product mix
HIGHER LOTTERY BILLINGS MARGIN DRIVEN BY IMPROVED PRODUCT MIX AND ROLL-OUT OF PRICE OPTIMIZATION BILLINGS MARGIN: BILLINGS MARGIN: 9M ’23 VS. 9M ‘24 Q3 23 VS. Q3 ‘24 (Lotteries) (Lotteries) in % in % 18% “01% 35% 10.2% 12,5% 04% — Rie 04% 14,6% 16,6% 9M ‘23 Product Mix Price QM ‘240 Big Win in 9M ‘2
Slide 14: 450.000 400.000 • 350.000 300.000 • Q2 ‘24 250.000 Q3 ‘24 • Q3 ‘20
450.000 400.000 • 350.000 300.000 • Q2 ‘24 250.000 Q3 ‘24 • Q3 ‘20 Q4 ‘22 200.000 Q1 ‘22 150.000 Q1 ‘21 • Q2 ‘21 100.000 Q1 ‘23 Q2 ‘22 Q4 ‘21 50.000 Q4 ‘23 • 0 0 10 20 30 40 50 60
Slide 15: Games business on track to deliver EUR9m revenue for 2024
GAMES BUSINESS ON TRACK TO DELIVER EUR9M IN REVENUE FOR 2024 PAYIN MARGIN BILLINGS ABPU in % in € millions in€ 33 99 0 SO 5355 5252 34% 353% 353% 347% 364% 9 A 249 4491 481,0 8% 162 306,2 06 58,7 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3
Slide 16: Highly successful start of Traumhausverlosung
HIGHLY SUCCESSFUL START OF TRAUMHAUSVERLOSUNG Dreamhouse worth 1.1 Mio € located at Libecker Bucht + 50,000 € Cash Additional extra, intermediate and special raffles Q Toumhaus VERLOSUNG Just like a tombola, we raffle a real dreamhouse Guaranteed winner for each draw Every entry supports a charity p
Slide 17: Traumhausverlosung provides service fee and cost recovery potential
TRAUMHAUSVERLOSUNG PROVIDES US WITH SERVICE FEE AND COST RECOVERY POTENTIAL BREAKDOWN OF €5 TICKET PRICE 100% ° We receive 28% of the ticket prices as a service fee for brokerage services, €.g., marketing and sales * Our charity partners receive 30% of the collected stakes and a further 30% of the c
Slide 18: Traumhausverlosung vs LOTTO24
40% Traumhausverlosung 35% 30% 25% 20% LOTTO24 15% 10% 5%
Slide 19: Updated Guidance
UPDATED GUIDANCE
Slide 20: Guidance 2024 adjusted upwards
GUIDANCE 2024 ADJUSTED UPWARDS ¢ New guidance for FY 2024 based on an average jackpot environment * Expected revenue growth of 36-45% and EBITDA growth of 28-40% versus 2023 2024 GUIDANCE (new) 158-168 140-150 116: . . . . : Revenue” (436 — 45%) ¢ — ZEAL will continue to invest into marketing (c.€40
Slide 21: Share Repurchase Offer
SHARE REPURCHASE OFFER
Slide 22: Share Repurchase Offer
SHARE REPURCHASE OFFER | * Offer price EUR 44.00 per share ° Attractive premium of 10% on the reference price | eal * Purchase of a total of up to 568,181 shares * Acceptance period: 18 Nov. - 29 Nov. 2024 * Offer document to be published on 18 Nov. 2024 on corporate website * Repurchase funded by d
Slide 23: Key Take-aways
KEY TAKE-AWAYS
Slide 24: Key take-aways: revenue growth and charity lottery launch
Strong revenue growth of 41% yoy Successful launch of the new charity lottery
Slide 25: Question & Answer
Question Answer
Slide 26: Disclaimer
DISCLAIMER The information contained herein must not be relied upon for any purpose and may not be redistributed, reproduced, published, or passed on to any other person or used in whole or in part for any other purpose. | This document contains certain forward-looking statements relating to the bus
Slide 27: Appendix
APPENDIX
Slide 28: Consolidated income statement and balance sheet in €k
CONSOLIDATED INCOME STATEMENT AND BALANCE SHEET IN €K INCOME STATEMENT eM a eM a3 CHANGE BALANCE SHEET see neo ene Revenue 120,952 86,012 +40.6 Current assets 110,871 92,637 +197 socrations f “86,425 “65927 #352 Non-current assets 291,221 302,016 3.6 EBITDA 34959 237168 *509 —> ASSETS 402,092 394,65
Slide 29: Business unit segment reporting as of 30/09/24
BUSINESS UNIT SEGMENT REPORTING AS OF 30/09/24 IN €K GERMANY OTHER TOTAL Revenue 116,743 4,209 120,952 Other operating income 429 1 430 —— > EBITDA 33,361 1,598 34,959 Depreciation/amortisation - - -6,069 —> EBIT - - 28,890 Financial result - - -2,135 Share of loss from associates -135 — > ~EBT - -
Slide 30: Quarterly KPIs: billings, ABPU, ARPU, MAU, CPL
‘22, Q3‘22) Q4'22 « Q1‘23) -Q2‘23) Q3‘23. Q4‘23) Q1'24 §=Q2'24 Q3‘24 Ea 1101 138.0 120.6 140.8 121.4 128.4 1259 128.0 142.5 140.2 1477 1.3 158.8 167.3 1770 168.7 196.7 214 1IMN4 Bee 5 140.0 174.4 157.3 181.0 163.3 169.5 160.3 163.4 181.2 W771 1861 2141 201.2 2099 2221 2101 246.3 260.8 236.0 ABPU(in€
Slide 31: Games KPIs: pay-in, billings, ABPU, ARPU, MAU
Q3 ‘24 Pay-in (in €m) 01 BS) 51 63 63 7A BILLINGS (in €m) 0.6 16.2 249 SL 299 31.6 ABPU Cin €) 58.74 306.14 4491 48098 535.52 525.2 ARPU (in €) 5.49 22.02 32.89 33.57 41.21 38.84 MAU Cin k) 9 18 18 22 19 20 * Games business started in June 2023. @® pt ZEAL) Gases ZEAL Troumbous
Slide 32: Financial Calendar 2024
FINANCIAL CALENDAR 2024 2024 2025 Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec Jan. Feb. Mar. Apr. May Jun. > Publication of Annual j : : Report 2023 @ 20 ‘fata poe Publication of Q1 Quarterly Statement Md Shey Fee Annual General Meeting £ @ 28 May 2024 — Publication of Half-Year 7 Repo
Slide 33: Contact
Contact ™ Frank Hoffmann, CEFA Senior Investor Relations Manager T +49 (0)40 809 036 - 042 M +49 (0)175 267 3420 frank.hoffmann@zealnetwork.de www.zealnetwork.de ANT ES ZEAL Strafenbahnring 11 20251 Hamburg ZEAL Traumbaus