Slide 1: Earnings Call H1 2026 Results
EARNINGS CALL H1 2026 RESULTS 5 August 2026
Slide 2: H1 2026 Highlights
H1 2026 Highlights Financial & Operational Update Strategic Progress & Guidance 2026 Key Take Aways
Slide 3: H1 2026 Highlights
yA NE H1 2026 HIGHLIGHTS ZEAL ZEAL @@Mjoanes €F) Tipp24 freiheit* ¢|Taumhaus TRAUMAUTO ¢ Dreamigy ce VERLOSUNG. VERLOSUNG
Slide 4: Record H1 Revenue, Profitable Growth and Continued Diversification
RECORD H1 REVENUE, PROFITABLE GROWTH AND CONTINUED DIVERSIFICATION § Strongest first half-year in the company’s history § Double-digit growth in EBITDA and profit § Record levels of new customers § Successful launch of “Traumautoverlosung” § Already more than € 241 million raised for social and comm
Slide 5: H1 2026 Financial & Operational Update
H1 2026 FINANCIAL & OPERATIONAL UPDATE
Slide 6: Extended Lotto 6aus49 Rollover Sequence Offset Lower Eurojackpot Level
EXTENDED LOTTO 6AUS49 ROLLOVER SEQUENCE MORE THAN OFFSET SLIGHTLY LOWER AVERAGE EUROJACKPOT LEVEL In €m LOTTO 6/49 in €m Average Peak 50 max. 40 30 H1 ‘26 27 10 20 10 0 H1 ‘25 8 0 1 6 11 16 21 26 31 36 41 46 51 Draw Eurojackpot in €m Average Peak In €m 120 max. 100 H1 ‘26 43 2 80 60 40 20 H1 ‘25 47
Slide 7: Eurojackpot Uplift Far Exceeds Lotto 6aus49
EUROJACKPOT UPLIFT FAR EXCEEDS LOTTO 6AUS49 MAXIMUM JACKPOT EFFECT Eurojackpot’s relative Billings uplift is about 4.5× higher. Comparison with weekday-matched low/minimum-jackpot reference draws; indicative. LOTTO 6aus49 +33% Eurojackpot +149% €50m jackpot · 19 draws €120m jackpot · 2 draws Wednesd
Slide 8: P&L: 20% Revenue Growth with EBITDA Margin of ~30%
P&L: 20% REVENUE GROWTH WITH EBITDA MARGIN OF ~30% H1 ‘26 H1 ‘25 CHANGE INCOME STATEMENT (in €k) (in €k) (in %) REVENUE Revenue increased by 20%, driven by higher lottery billings, a higher gross margin and more monthly active users as well as the improved jackpot situation and the successful launch
Slide 9: Lottery Billings Grew 13%, Supported by Larger Customer Base
LOTTERY BILLINGS GREW 13%, SUPPORTED BY A LARGER AND MORE ACTIVE CUSTOMER BASE MONTHLY ACTIVE AVERAGE BILLINGS PER BILLINGS USERS (MAU) USER (ABPU) (Lotteries) in € millions (Lotteries) (Lotteries) in thousands +9% in € +13% 595.9 1,653 +4% 1,515 60.07 527.3 58.03 H1 '25 H1 '26 H1 '25 H1 '26 Increas
Slide 10: Significant Increase in Gross Margin to 18.2%
SIGNIFICANT INCREASE IN GROSS MARGIN TO 18.2% GROSS MARGIN REVENUE (Lotteries) (Lotteries) in % in € millions +0.9pp +20% 110.6 17.3 18.2 91.9 H1 '25 H1 '26 H1 '25 H1 '26 Gross margin expansion demonstrates the earnings quality of ZEAL’s increasingly diversified product portfolio 10
Slide 11: Record H1 Customer Acquisition with Disciplined Unit Economics
RECORD LEVEL OF H1 CUSTOMER ACQUISITION WITH DISCIPLINED UNIT ECONOMICS 1) NEW REGISTERED COST PER LEAD (CPL) CUSTOMERS (Lotteries) in € (Lotteries) in thousands +7% +32% 659 46.93 50.20 499 H1 '25 H1 '26 H1 '25 H1 '26 1) H1 ‘26 CPL for the core brokerage business: €44.86 (H1 ‘25: € 41.72) Supported
Slide 12: Games Revenue Grew 17% as Portfolio Expansion Broadened User Base
GAMES REVENUE GREW 17% AS PORTFOLIO EXPANSION BROADENED THE USER BASE MONTHLY ACTIVE AVERAGE REVENUE PER REVENUE USERS (MAU) USERS (ARPU) (Games) in € millions (Games) (Games) in thousands in € +34% +17% 35 -13% 7.8 42.40 6.7 26 36.86 H1 '25 H1 '26 H1 '25 H1 '26 MAU growth, driven by the expansion E
Slide 13: Traumhausverlosung on Track – 9th Raffle Is Running
TRAUMHAUSVERLOSUNG ON TRACK – 9TH RAFFLE IS RUNNING 3 Houses drawn in 2026 § House #8 completed after a draw period of only 63 days § Highest customer retention rate to date § Highest billings per day to date § D2C share of billings remained strong at 57% H6 H7 H8 Duration of draw periods 83d 84d 63
Slide 14: Successful Launch of Traumautoverlosung
SUCCESSFUL LAUNCH OF TRAUMAUTOVERLOSUNG Traumautoverlosung expands ZEAL’s proprietary product portfolio into premium vehicles § First draw successfully completed § More than 217k tickets sold § More than €2m in billings 14
Slide 15: Strategic Progress & Guidance 2026
STRATEGIC PROGRESS & GUIDANCE 2026
Slide 16: Overview of Strategic Focus Areas for 2026
OVERVIEW OF STRATEGIC FOCUS AREAS FOR 2026 Strategic priority H1 progress Evidence Strengthen acquisition Record level of H1 26 01 effectiveness customer acquisition § 659k new customers § Three house draws in H1 26 Scale proprietary 02 lottery products Further scaling charity lotteries § Ninth hous
Slide 17: Recap: Strategic Acquisition of SevenCanyon Ltd.
RECAP: STRATEGIC ACQUISITION OF SEVENCANYON LTD. A FAST-TRACK ACCESS TO THE ATTRACTIVE UK PRIZE DRAW MARKET £ 1.3bn > 7m > 400 96.5% € 40m £ 33.8m UK prize-draw billings UK players operators in fragmented market remaining stake acquired long-term term loan EV / Purchase Price STRATEGIC RATIONALE QUA
Slide 18: Guidance 2026
GUIDANCE 2026 2026 2025 Update post acquisition of SevenCanyon Ltd. In €m Guidance Actuals Update post completion of the SevenCanyon Revenue €250–260m €218.5m IFRS revenues assessment Confirmed, including M&A-related one-off expenses in EBITDA €70–75m €68.8m the mid-single-digit €m range Marketing ~
Slide 19: Key Take Aways
yA NE KEY TAKE AWAYS ZEAL ZEAL @@y§cames (33) Tipp24 freiheit® @Toumhaus TRAUMAUTO (° Droamigy VENTURES” TBERIA VERLOSUNG. VERLOSUNG
Slide 20: Key Takeaways
KEY TAKEAWAYS Highest H1 revenue in ZEALs history Double-digit growth in EBITDA and profit Successful launch of “Traumautoverlosung” + Post-period acquisition of SevenCanyon diversifies ZEALs geographic footprint 20
Slide 21: Q&A
yA NE Q&A ZEAL ZEAL @@y§cames (33) Tipp24 freiheit® @Toumhaus TRAUMAUTO (° Droamigy VENTURES” TBERIA VERLOSUNG. VERLOSUNG
Slide 22: 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 busin
Slide 23: Consolidated Income Statement and Balance Sheet in €k
CONSOLIDATED INCOME STATEMENT AND BALANCE SHEET IN €K H1 ‘26 H1 ‘25 CHANGE 30/06/26 31/12/25 CHANGE INCOME STATEMENT BALANCE SHEET (in €k) (in €k) (in %) (in €) (in €) (in %) Revenue 121,798 101,526 +20.0 Current assets 150,632 167,960 -10.3 Total costs of -83,363 -66,727 +24.9 Non-current assets 28
Slide 24: Business Unit Segment Reporting as of 30/06/26 in €k
BUSINESS UNIT SEGMENT REPORTING AS OF 30/06/26 IN €K Lotteries Games All-other segments TOTAL Revenue 110,568 7,805 3,425 121,798 Personnel expenses -16,697 -1,327 -1,121 -19,145 Other operating expenses -59,653 -3,291 -1,239 -64,184 EBITDA 34,638 3,191 1,065 38,893 Amortisation and depreciation – –
Slide 25: Continued High Marketing Efficiency at Eurojackpot Peaks
CONTINUED HIGH MARKETING EFFICIENCY AT EUROJACKPOT PEAKS 600,000 Q2 2026 Highlights Size of the bubbles reflects the number of • Acquisition of 384K new 500,000 EJ jackpots peaks in customers in an improved the quarter. jackpot situation • Ongoing investment into customers per Quarter 400,000 Q2 ‘26
Slide 26: KPIs (Lotteries)
KPIS (LOTTERIES) Q1 ‘23 Q2 ‘23 Q3 ‘23 Q4 ‘23 Q1 ‘24 Q2 ‘24 Q3 ‘24 Q4 ‘24 Q1 ‘25 Q2 ‘25 Q3 ‘25 Q4 ‘25 Q1 ‘26 Q2 ‘26 Pay-in 158.8 167.3 177.0 168.7 196.7 211.4 191.4 277.3 215.4 214.1 253.1 217.7 218.2 268.6 (in €m) Billings 201.2 209.9 222.1 210.1 246.3 260.8 236.0 337.3 264.7 262.6 306.9 266.3 268.0
Slide 27: KPIs (Games)
KPIS (GAMES) Q2 ‘23* Q3 ‘23 Q4 ‘24 Q1 ‘24 Q2 ‘24 Q3 ‘24 Q4 ’24 Q1 ‘25 Q2 ‘25 Q3 ‘25 Q4 ‘25 Q1 ‘26 Q2 ‘26 Pay-in (in €m) 0.1 3.3 5.1 6.3 6.3 7.1 8.9 10.2 10.3 10.7 12.8 12.2 12.3 Billings (in €m) 0.6 16.2 24.9 31.3 29.9 31.6 40.2 45.5 45.2 46.2 52.6 51.3 51.0 Revenue (in €m) 0.1 1.2 1.8 2.2 2.3 2.3 3
Slide 28: Financial Calendar 2026
FINANCIAL CALENDAR 2026 2026 2027 Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May Jun. Publication of Annual Report 2025 25 March 2026 Publication of Q1 Quarterly Statement 6 May 2026 Annual General Meeting 20 May 2026 Publication of Half-Year Report 5 August 2026
Slide 29: Contact
Contact Frank Hoffmann, CEFA ZEAL Senior Investor Relations Manager Straßenbahnring 11 20251 Hamburg T +49 (0)40 809 036 - 042 M +49 (0)175 267 3420 frank.hoffmann@zealnetwork.de www.zealnetwork.de 29