Canterbury Park Holding Corporation · NASDAQ:CPHC
Canterbury Park — Shareholder Meeting (June 2024)
29 slides from Canterbury Park's shareholder meeting presentation, Jun 6, 2024
Slide 1: Canterbury Park Holding Corporation 2024 Annual Meeting
a “*¢ Canterbury Park Holding Corporation CPHC: NASDAQ 2024 Annual Meeting June 2024
Slide 2: Cautionary Statement
Cautionary Statement CANTERBURY the Sting publi fe “bel s,anticipa intends” a For: the safe harbor for actual Hud io 1, 2023 These presentation materia use the terms "EITOA” and “aduted EBITDA” Neither EBITDA nor austed EBTDA United States ‘America "GAAP", , indicator of ou Woof
Slide 3: Canterbury Park At a Glance
Premier Minneapolis Gaming & Entertainment Destination 18,000 35/26 54 24 85,000 ~50 SqFLof LasVegas-StyleTable Anmuallive _‘FEBOutlets?”Sq.FLof Customizable Acres of Excess Land Gaming Space Games /Poker Tables Racing Days Event Space for Development. fi 5s << WY Ter Canterbury Park At a Glance + 2
Slide 4: Year End 2023 Results
Year End 2023 Results + Net revenues decried # Vo S444 + Netincomencened $3307 10850 + Agjusted EBITOA decreased $5844¥/Yt0 S04 ‘Quarterly Results Summary +103 2023 Financials stilt its secon highest ever fist quarter level 02: {his also impacted FB revenue +398 +4923 CANTERBURY
Slide 5: 2023 P&L
2023 P&L CANTERBURY Net revenue Operating expenses Gain onsale of land Income from operations Other income toss) ‘Adjusted EBITDA Adjusted EBITDA % of net revenue asic ES oitted ers
Slide 6: 2023 Adjusted EBITDA Reconciliation
We fine TDA as eamings ere interest nes depreciation aod Netincome rarest ico, asm om espace Income taxexpense sa . Depreciation as 2901 Sematitn otmore eat nn ror 2023 Adjusted eairak ur ane “eaters a er na EBITDA Stok compeston a ne Reconciliation Gain on insurance proceeds related . Tinetagsedncn
Slide 7: Quarterly Performance Exceeds Prior-Year Results
‘Quarterly Performance Exceeds Prior-Year Results + Casino: total revenues increased + Racing and Par-Mutue: total revenue increased 4% revenve increased to $14M + AgjustedEITORInceased 1 YY to $3204 1924 Financials + Adjusted EBITOA asa percentage of total revenue was 23% Healthy Quarter-End Financ
Slide 8: 1Q24 P&L
seem er a mm as 1034 PEL oeon oat ae Q [Net income $998 sam seca cum eesti was on nn ots re CANTERBURY
Slide 9: 1Q24 Balance Sheet
1924 Balance Sheet CANTERBURY {cash and short-term investments Restricted cash ther curent assets Current asets TH receivable Other long-term assets Tota assets Long term debt Totalabilties Stoctholders' equity Total abilities and stockholders’ equity 105,582 3223906 ne 105.502 104679 sneer au st046
Slide 10: 1Q24 Adjusted EBITDA Reconciliation
Netincome 1924 Adjusted ee EBITDA couoa Reconciliation Ricecl Sapa Ganon insurance proceeds elated roel ime Depreciation and amortization ‘bted to cquty investments Interest expense related to equity investments Adjusted EBITOA CANTERBURY en Ea caring ir rt es iti nd ‘Sort woes rc on uch ‘ees orton)
Slide 11: CANTERBURY
CANTERBURY
Slide 12: Investment Highlights
Profitable and Growing Casino + Operates 2 hours pr day /7 days per week Poke + Multiple opportunities toincrease visitation and spend pe vist Profitable Horse Racing, F&B and Event Operations + 5 lve racing ay per year planed for 2024 meet + Daily simueast wagering + 70 speci event days and 300+ ca
Slide 13: Casino Overview and Update
61 Las Vegas-style table games and poker tables = Greeny can pate poe ae ames ith being ints 10 for poker and 06 for table game + curate mires inane an pte Ijin to incorporate rer ypeso go + Games operated onan unbanked bai Casino Overview and U pdate ta Vegas-Style table. games generate average in
Slide 14: Horse Racing Overview and Update
Horse Racing Overview and Update CANTERBURY Park is the only thoroughbred fecetrack Minnesota Racing revenue generated from several sources: * Live racing across 54-day meet + Outof tate wagering on Canterbury’ ine racing product Revenue from live and simulcast racing as well as out of state wagerin
Slide 15: F&B and Events Overview and Update
F&B Revenue (Sin mm) Four core F&B outlets i + Chips Restaurant | + Chips Bar paddock Bar F&B and Events Ff Facility includes 20 additional F&8 offerings that Overview and are open for select events and lve racing Update ‘Over 85,000 square feet of flex space + vents tradeshows, conferences, meeting
Slide 16: Legislative and Regulatory Update
HHR * trove by insta Racing Commision Ron For May ah “gpa et Legiture passed bil A + Any implementation willow equi legate approval Legislative and Regulatory Sports betting Update Sutin mci ei om rad + Sof tax revenue earmarked for racing industry CANTERBURY
Slide 17: Canterbury Park Real Estate
Canterbury Park ite Ma
Slide 18: Real Estate Joint Venture Projects
Completed Proposed / Underway SENOS eoumenie Sores Real Estat a Gepce —ceptone —reptone | Geptne Joint Venture Projects PEON Serencrttny Cnty 08 Conte aS Catwtury ONS | Cantar 0087 TRUE” Deveapment.LLC Development LUC Development Lc | Development, Le swostenaytte cy SY ac | stating cate ue investmen
Slide 19: Triple Crown Apartments
Phase ll Open for Occupancy sable for ease + Cerifcate of ocupancy fr all units expected in ty 2024 Phase I Repairs Underway + Construction defect was identified withthe sprints inbutng re surance proceees andsetemen ofS mon Ding sed {remedy sue Triple Crown +p rnin rating rats acer bung + Portion o
Slide 20: Winners Circle
Winners Circle Canterbury DBSV Development, LLC joint venture investments + Cantebuny holds 62% equity ownership + acres /7 pad sites Completed spaces: + 6S Moving Up, Lic + 28054 ceo cnstcon efi Headquarters for Greystone Construction ‘Rapa aac rae + SW Gateway LLC + Badge Hill rewing apro0m) os de
Slide 21: Third Party Development Overview
Third Party Development Overview Expected 2025 ute Lietye Communities Greystone ser tounit residential community ‘commenity Preschoot amphitheater em Sld Land Soa semunder constuction Development Sponsor Completed Under Construction Future Construction Seeking Fnacing/ Interest (Ful completion iter
Slide 22: State-of-the-Art Outdoor Venue
State-of-the-Art Outdoor Venue + Capacity for 19,000 fons + Largest outéoor music venue in Minnesota + Expects to attract 4050 shows per year Barn Relocation Program +515 milion project Surroun and ding Land + Allows for continued quality hoese racing while freeing upland for development near amphit
Slide 23: Canterbury Park
CANTERBURY. PARK
Slide 24: Canterbury Park Timeline
saat Park meline CANTERBURY
Slide 25: Diverse Business Model
Diverse Business Model Casino Real Estate Development Racing Hospitality & Entertainment : so. inca rene eptember CANTERBURY
Slide 26: Casino Overview
Casino Overview CANTERBURY ‘Table and poker games"* + casino games are“unbanked™ * Mages st agcumuatedints aye pot iaity wien to players through giveaways promotional tems or ues +5200 per hand bet limit (100 for poke Financial performance (TTM) + Revenue of $40: milon* Key growth drivers + Guest fr
Slide 27: Monetization of Canterbury Real Estate
Monetization of Canterbury Real Estate CANTERBURY Pure land sales represent one of several paths to monetize the excess real estate surrounding Canterbury Par Two parcels, encompassing roughly 30 acres, sold for total consideration of approximately $5.8 million (2015 and 2016) 1hacres of land sold f
Slide 28: Land transfers to JVs monetize excess real estate
Land transfers to JVs represent one of several paths to monetize the excess real estate surrounding Canterbury Park le Crown Apartments) for Phase Basis of Land Contribution into Triple Crown Monetization of + Gi contrived Wacresto sir verte at per ace value of Canterbury Real + Land represents Cant
Slide 29: Q&A
Canterbury Park Holding — Shareholder Meeting (June 2024) on 6ix