Slide 1: FY2022 Results Presentation
888 FY2O22 RESULTS DRE S ENTATION 14 APRIL 2023 HOLDINGS
Slide 2: Agenda
AGENDA Purpose of today e Update on key changes since our capital markets day e Outline the financial results for FY2022 e Update on progress against our strategic plans e Provide a trading update and guidance for FY23 performance aR HOLDINGS Overview Financial review Strategic review Summary Q&A Lo
Slide 3: Overview
1 DINGS OVERVIEW LORD MENDELSORMN, EXECUTIVE CHAIR
Slide 4: Board Priorities
BOARD PRIORITIES We have clear priorities and plans to strengthen the business and enable it to deliver on its potential TEAM Appointment of strong executive directors while supporting wider management team in delivering plans in place Pw ESG Our ambition is to be one of the most trusted operators i
Slide 5: Compliance Update
COMPLIANCE UPDATE yy) cers Investigation complete into Middle East VIP suspensions; remedied failings, "°°" with robust policies and procedures in place; no further impacts expected Enhancing sustainability through compliance action e Compliance and safer gambling is a critical Board priority e Sign
Slide 6: Integration Progress (EP)
INTEGRATION PROGRESS (EP) Strong progress on integration with synergy delivery well advanced and “ren clear plans in place Organisational design Localised execution Technology integration e New operating model in place, . , : Country focused model and e Early decision on platform of removing duplica
Slide 7: Scale and Potential
SCALE AND POTENTIAL We have created a diversified global leader with strong growth potential Online revenue of publicly listed operators - FY2022! £7,421m £2,999M £1,793m £1,331m £1,100m £1,069m £823m £726M ~— ¢660m Flutter EntainDraftKings 888- WH Super Group Kindred Bally's William Hill Betsson £6
Slide 8: Financial Review
FINANCIAL REVIEW YARIV DAFNA, CFO
Slide 9: Reported to Pro Forma Results Bridge
REPORTED TO PRO FORMA RESULTS BRIDGE tee To improve clarity around the underlying trends, pro forma numbers “ren include the results of William Hill pre acquisition, and exclude bingo Reported to pro forma! Revenue bridge (£m) Reported to pro forma! Adjusted EBITDA bridge (£m) 630.9 1,850.1 94.4 310
Slide 10: FY2022 Financial Results - Pro Forma
FY2022 FINANCIAL RESULTS - PRO FORMA tee We saw strong growth in the retail business as it lapped prior year “ren closures, offset by online headwinds, notably UK safer gambling measures 1,236.3 UK&l - Online Revenue ~~ Retail International Total UK&l - Online Adjusted ~ Feta! EBITDA International C
Slide 11: Financial Focus Areas
FINANCIAL FOCUS AREAS We have clear plans to improve financial performance through realising “ren synergies, improving EBITDA margin and prioritising deleveraging SYNERGIES e Accelerated synergy delivery and upgraded target of £150m by 2025, with £111m expected in 2023 e Synergies of £25m delivered
Slide 12: Debt Structure
DEBT STRUCTURE the? Long-term debt structure that is hedged against FX and interest rate risk = "°"® Effective exposure Maturity profile’ Interest rates £508m é1im 2023 2024 2025 2026 2027 2028 MTLA(€) =TLB(S) !\Fixed notes (€) "Floating notes (€) = WH Bonds (£) = Fixed = Floating = GBP =EUR USD e E
Slide 13: Q1 2023 Trading Update
Q1 2023 TRADING UPDATE th}? Q1 revenue of £446m with good underlying volumes offset by UK safer “ren gambling impacts and suspension of Middle East VIPs Q1 2023 Trading Update FY23 Guidance 312 -2% 304 1% driven by focus on core and growth markets, UK&I 306 expansion of recreational base in the UK a
Slide 14: FY2025 Financial Targets
FY2025 FINANCIAL TARGETS th}? Reaffirmed FY2025 financial targets, delivering strong shareholder returns = "°°" while building the platform for future growth Refined strategic focus on a smaller number of key markets, Revenue >£2bn with clear targets to drive greater market share and build sustainab
Slide 15: Strategic Review
STRATEGIC REVIEW VAUGHAN LEWIS, CHIEF STRATEGY OFFICER
Slide 16: Strategic Framework
STRATEGIC FRAMEWORK saat Clear strategic focus areas as we build the platform for future success “ren Disciplined capital allocation and more streamlined and profitable business to generate strong returns Market A clear plan to create a more efficient and Integration focus effective business to real
Slide 17: Market Focus - Core
MARKET FOCUS - CORE Strong performance in Italy and Spain offset by challenges in the UK, th}? HOLDINGS primarily related to significant impact of player safety measures UK ONLINE e Maintained strong player activity and growing market share based on actives, particularly in gaming! e Revenue trend i
Slide 18: Market Focus - Other
MARKET FOCUS - OTHER Regulated market launches support our growth market strategy, with profitability focus supported by optimise markets GROWTH e Launched 888 on a locally regulated basis in Ontario in Apr-22 e SI Sportsbook launched in Virginia and Michigan, with SI Casino launched in Michigan in
Slide 19: Key Enablers - Product and Content
KEY ENABLERS - PRODUCT AND CONTENT ae. Consistent product delivery alongside integration work Revenue upside potential from combination Improved #BuildYourOdds Section8 in-house studio continues to develop top quality games bet builder with leg 888 a = that we plan to rollout to William Hill, includ
Slide 20: Key Enablers - World Class Brands
KEY ENABLERS - WORLD CLASS BRANDS >>) 8 casino poker Pro forma online marketing THE ratio SPORTSBOOK [Acie THAT WROTE 23.1% THE BOOK | ON SPORTS. | H1-21 H2-21 H1-22 H2-22
Slide 21: Key Enablers - Customer Excellence
KEY ENABLERS - CUSTOMER EXCELLENCE éxy) Tyre Customer focus driving efficiency, as well as continuous improvement in “eens player activity and satisfaction Delivering top quality customer experience... Rolling 12m Customer NPS Focus on brilliant basics and improving customer journeys is driving impr
Slide 22: Sustainability
SUSTAINABILITY Our approach to ESG and sustainability is fundamental to our long-term aae growth ambitions, as we continue to build the business into a global leader PLAYERS e >500,000 third-party financial vulnerability checks carried out the UK © >2.7 million customer interactions undertaken, +19%
Slide 23: Summary
1 DINGS SUMMARY LORD MENDELSORMN, EXECUTIVE CHAIR
Slide 24: Summary
SUMMARY Executing on clear plans to realise our potential H1 2022 POSITION Transformation of business to create a large scale business, with leading positions in key regulated markets Strong potential constrained by high leverage and below average EBITDA margins H2 2022 delivering on our PLAN Integr
Slide 25: Q&A
=0. DINGS Q&A PRESENTERS
Slide 26: Appendix
HOLDINGS LIX
Slide 27: 2023 Technical Guidance
2023 TECHNICAL GUIDANCE aaa Delivering our plan of integration and market focus “ren Group Cashflow e Low to mid single digit revenue decline e Capex of ~£85m, benefitting from early synergies e Adjusted EBITDA margin at least 20% e One-offs: e Cost to achieve synergies ~£60m e Overall high single d
Slide 28: Debt Facilities
DEBT FACILITIES Long-term debt structure with sufficient flexibility to support plans William Hill bonds £11Im TLB (USD) $407m Fixed notes (EUR) €582m Floating notes (EUR) €450m TLB Jul-22 (USD) $166m TLA Jul-22 (EUR) €467m RCF (undrawn) £150m Total post hedging gross debt GBP EUR & GBP EUR & GBP Mu
Slide 29: FY2022 Financial Results - Reported
FY2022 FINANCIAL RESULTS - REPORTED tee HOLDINGS On a reported basis we saw significant changes across most metrics, due to the inclusion of William Hill results from completion on 1 July 2022 the addition of William Hill, a higher margin business, Revenue 1,238.8 TBS from 1 July 2022 G fit 798.3 45
Slide 30: Exceptional Items and Adjustments
EXCEPTIONAL ITEMS AND ADJUSTMENTS t}}) | millions | 2022 | 2021 Retroactive duties and associated charges G9) 42 e £25m of transaction related fees for William Hill, mainly professional advisors Acquisition related costs 245 10.9 Transformation costs 14.4 22 e £14m of integration and transformation
Slide 31: UK&I Online and Retail
UK&I Online Retail Unaudited pro forma FY FY % FY FY % ● £m 2022 2021 Change 2022 2021 Change Average monthly actives (000s) 1,087 1,053 +3% Sportsbook stakes 3,050.2 4,157.0 -27% 1,646.7 1,079.2 +53% ● Sportsbook net revenue margin 8.7% 8.5% 0.2ppt 17.7% 17.6% 0.1ppt Betting revenue 265.3 353.3 -25
Slide 32: International
International ● Unaudited pro forma FY FY % £m 2022 2021 Change Average monthly actives (000s) 530 546 -3% ● Sportsbook stakes 1,363.5 1,782.8 -24% Sportsbook net revenue margin 7.2% 7.0% 0.2ppt Betting revenue 97.8 124.6 -22% ● Gaming revenue 516.0 546.8 -6% Total revenue 613.7 671.4 -9% ● Cost of
Slide 33: William Hill Settlement - Safer Gambling Changes
WILLIAM HILL SETTLEMENT - SAFER GAMBLING CHANGES te} HOLDINGS Significant remedial actions have put the Group in a far stronger position from a compliance perspective The Gambling Commission assessment of William Hill took place in 2020/21 Additi ore granular PROTECTION FROM PROTECTING ENHANCED AML
Slide 34: UK&I Online Revenue Evolution
UK&l ONLINE REVENUE EVOLUTION te} Significant step down post lockdown in H2-21, coinciding with introduction = "°" of proactive safer gambling measures, with further measures during 2022 £255m £252m £201m _. _. £190m £183m £188m £174m £172m €167m £109m £107m £73m £64m £68m £72m £66m £60m £69m Ql 202
Slide 35: UK Retail Revenue Evolution
rea UK RETAIL REVENUE EVOLUTION aad Rapid recovery from lockdowns each time, with growing revenue and “ren strong performance across an optimised estate portfolio £140m e121m £124m = -£125m_—-£129m e24m 131m £57m £58m =o £87m oe £54m fe £57m fe OM £54m £71m £70m Ml 69m Ml £74m fi £77™ BM c70m £81m £
Slide 36: International Online Revenue Evolution
INTERNATIONAL ONLINE REVENUE EVOLUTION tee Step down post lockdown in H2-21, alongside refined market focus and “ren closure of Netherlands from Q4-21. Q1-23 reduction driven by Middle East £186m £172m e189 m £154m £157m £152m £151 £154m m £140m £147m £133m £131m £132m £129m £128m £127m £114m essai
Slide 37: Unaudited pro forma - Group
Unaudited pro forma - Group 2021 2022 £m Q1 Q2 Q3 Q4 H1 H2 FY Q1 Q2 Q3 Q4 H1 H2 FY Average monthly actives (000s) 1,664 1,687 1,509 1,540 1,675 1,525 1,600 1,639 1,654 1,517 1,657 1,647 1,587 1,617 Sportsbook stakes 1,750.3 1,854.2 1,697.2 1,717.3 3,604.5 3,414.5 7,019.0 1,623.4 1,557.6 1,360.0 1,51
Slide 38: Unaudited pro forma - UK&I Online
Unaudited pro forma - UK&I Online 2021 2022 £m Q1 Q2 Q3 Q4 H1 H2 FY Q1 Q2 Q3 Q4 H1 H2 FY Average monthly actives (000s) 1,057 1,146 1,004 1,007 1,101 1,005 1,053 1,090 1,137 1,014 1,106 1,114 1,060 1,087 Sportsbook stakes 1,201.8 1,131.3 916.5 907.4 2,333.0 1,823.9 4,157.0 837.3 795.1 674.5 743.3 1,
Slide 39: Unaudited pro forma - UK Retail
Unaudited pro forma - UK Retail 2021 2022 £m Q1 Q2 Q3 Q4 H1 H2 FY Q1 Q2 Q3 Q4 H1 H2 FY Sportsbook stakes 6.6 267.4 400.1 405.1 274.0 805.2 1,079.2 405.5 436.2 379.6 425.5 841.7 805.1 1,646.7 Sportsbook net revenue margin 22.4% 18.8% 17.4% 17.0% 18.9% 17.2% 17.6% 18.3% 17.8% 18.5% 16.3% 18.0% 17.3% 1
Slide 40: Unaudited pro forma - International
Unaudited pro forma - International 2021 2022 £m Q1 Q2 Q3 Q4 H1 H2 FY Q1 Q2 Q3 Q4 H1 H2 FY Average monthly actives (000s) 607 541 505 533 574 519 546 549 517 503 551 533 527 530 Sportsbook stakes 541.9 455.6 380.6 404.8 997.5 785.3 1,782.8 380.6 326.3 305.9 350.7 706.9 656.6 1,363.5 Sportsbook net r
Slide 41: Disclaimer
DISCLAIMER tee HOLDINGS Forward looking statements © This presentation may contain certain forward-looking statements, beliefs or opinions, with respect to the financial condition, results of operations and business of the Company. These statements, which contain the words ‘anticipate’, ‘believe’, ‘
Slide 42: HOLDINGS
HOLDINGS corporate.888.com