Slide 1: Fourth Quarter 2025 Earnings
Fourth Quarter 2025 Earnings MARCH 10, 2026
Slide 2: Safe Harbor / Non-GAAP Financial Disclosures
Safe Harbor / Non-GAAP Financial Disclosures Forward-Looking Statements This presentation includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements regarding our busines
Slide 3: 4Q 2025 Key Takeaways
1 Introduction 4Q 2025 Key Takeaways 1 1 4Q 2025 Interactive Revenue and Adjusted EBITDA1 growth of 53% and 60%, respectively 2 4Q 2025 Record Adjusted EBITDA margin2,3 of 42% after exiting holiday parks 2026 Adjusted EBITDA guidance of $112m - $118m4; midpoint represents double-digit YoY 3 growth e
Slide 4: Consistent Adjusted EBITDA Growth and Expanding Margins
2 Business Update Consistent Adjusted EBITDA Growth and Expanding Margins Improving mix and operational leverage drive consistent performance 2025 QUARTERLY REVENUE AND ADJUSTED EBITDA PERFORMANCE ($ in millions) 50% $120 42% 38% 40% $100 35% 30% $80 30% $60 20% +15% +11% +5% $40 +19% 10% $20 $0 0%
Slide 5: Record Quarterly Adjusted EBITDA Margin
2 Business Update Record Quarterly Adjusted EBITDA Margin Portfolio optimization drives step change in profitability DIGITAL AS A PERCENTAGE OF TOTAL ADJ EBITDA1,2 ADJUSTED EBITDA MARGIN2,3 % DIGITAL % DIGITAL 42% 42% 52% 37% % RETAIL % RETAIL 4Q24 4Q25 4Q24 4Q25 (1) Digital mix defined as segment l
Slide 6: 2026 Momentum: Key Contract Wins and Renewed Partnerships
2 Business Update 2026 Momentum: Key Contract Wins and Renewed Partnerships Building pipeline and revenue visibility in 1Q 2026 FIRST U.S TIER ONE OPERATOR INSPIRED SIGNS MULTI-YEAR EXPANDED PARTNERSHIP EXTENSIONS FOR FULL SUITE WITH BETMGM AND BORGATA OF VIRTUAL SPORTS WITH TO BRING VIRTUAL SPORTS
Slide 7: Driving Future Revenue: Core Growth Drivers
3 Growth Drivers Driving Future Revenue: Core Growth Drivers ▪ Scaling content & distribution ▪ Expanding proprietary titles & mechanics pipeline ▪ Adding incremental studio capacity in 4Q 2026 ▪ Market expansion ▪ New iGaming geographies (South Africa, Philippines, Portugal) ▪ Chicago video gaming
Slide 8: Compounding Content Strategy Driving Scalable Growth
3 Growth Drivers Compounding Content Strategy Driving Scalable Growth Each year adds incremental growth on top of a stable, revenue-generating base MONTHLY INTERACTIVE REVENUE PROGRESSION1 - BY YEAR OF RELEASE £5,000,000 £4,000,000 £3,000,000 £2,000,000 £1,000,000 £0 Jan-22 Jan-23 Jan-24 Jan-25 Game
Slide 9: Repeatable Growth from Proprietary Game Mechanics
3 Growth Drivers Repeatable Growth from Proprietary Game Mechanics Proprietary mechanics scaling across titles and expanding share of Interactive gross win PROPRIETARY GAME MECHANIC1 PROPRIETARY GAME MECHANICS BIG MONEY CASH BANK WINNER AS % OF INTERACTIVE GROSS WIN3 GREATER PREDICTABILITY PROPRIETA
Slide 10: Building a scalable Interactive engine
3 Growth Drivers Building a scalable Interactive engine Increased production and monetization lead to revenue and margin expansion INTERACTIVE CONTENT CREATION TRAJECTORY 2 NUMBER OF ANNUAL GAMES GGR PER GAME TITLE INTERACTIVE REVENUE INTERACTIVE DELIVERED ADJUSTED EBITDA3 +118% +63% +49% +59% 48 $5
Slide 11: Content is Key Differentiator in Double Digit Growth from Terminals
3 Growth Drivers Content is Key Differentiator in Double Digit Growth from Terminals Strong performance unlocking higher gross win; positions us to capture outsized share 4Q 2025 GAMING PERFORMANCE METRICS WILLIAM HILL BETTING SHOP GREECE BETTING SHOP ILLINOIS NET GROSS WIN/UNIT/DAY GROSS WIN/UNIT/D
Slide 12: Increased Momentum for New State iGaming Legalization
3 Growth Drivers Increased Momentum for New State iGaming Legalization Well positioned to capitalize on large and growing addressable U.S. iGaming market Online Sports iGaming Betting Regulated US states 8 39 iGaming v. Online 2025 Total US regulated GGR1,2 $10.7bn $17.0bn >3x Sports Betting GGR in
Slide 13: Overview of Inspired
4 Outlook Overview of Inspired A solid foundation supporting the next phase of sustainable, profitable expansion YEAR ENDED DECEMBER 31, 2025 $304m $111m 11% Revenue Adjusted EBITDA1 Adjusted EBITDA YoY % change 51% 37% 3.3x Digital mix2 Adjusted EBITDA3 Net leverage4 margin (1) Reconciliation of no
Slide 14: Simplified and more predictable earnings
4 Outlook Simplified and more predictable earnings Two-year targets to drive shareholder value 2026 2027 2025 TARGETS8 TARGETS8 Adj EBITDA1 $111m $112m-$118m $125m-$135m Adj EBITDA margin2 37% 43% 45%+ Digital as a % of Adj EBITDA3 51% 55%+ 60%+ Headcount4 920 900 900 Cash Capex5 $44m $30m - $35m $3
Slide 15: Intention to move to new segmentation for 2026
4 Outlook Intention to move to new segmentation for 2026 Streamlined reporting by combining Gaming and Leisure into Retail Solutions segment Illustration of 2025 Revenue and Adjusted EBITDA aligned to new 2026 segments in appendix 15
Slide 16: Investment Highlights
4 Outlook Investment Highlights 1 Strong recurring revenue base from leading regulated global operators 2 Taking share in high-growth, high-margin iGaming industry with expanding TAM1 3 Adjusted EBITDA2 projected to grow double digits YoY (ex-holiday parks business(3)) 4 Higher quality recurring ear
Slide 17: Appendix
Appendix 17
Slide 18: 4Q25 Adjusted EBITDA Commentary
4Q25 Adjusted EBITDA Commentary 4Q25 YOY ADJUSTED EBITDA PERFORMANCE 4Q25 Adjusted EBITDA1 segment commentary ($ in millions) Interactive +60% YoY (+55%cc); +23% QoQ • Strong holiday games made December a record month $2.3 • 76% growth in the US and 46% growth in the UK Leisure $5.2 Virtual Sports +
Slide 19: Financials: Adjusted Income Statement
Financials: Adjusted Income Statement Three months ended 2025 2024 Change % 31-Dec $m $m Revenue 77.2 83.0 -7% Less: cost of sales (17.7) (23.7) -25% Gross Profit $ 59.5 $ 59.3 0% Commentary SG&A (34.3) (34.2) 0% Depreciation & amortizaion (13.3) (11.9) 12% • Interest expense increase was driven by
Slide 20: Illustration of 2025 Revenue and Adjusted EBITDA Aligned to 2026 New Reporting Segments
Illustration of 2025 Revenue and Adjusted EBITDA Aligned to 2026 New Reporting Segments ($ in millions) Revenue Q1 Q2 Q3 Q4 FY25 Retail Solutions 39.6 57.5 61.8 50.0 208.9 Virtual Sports 8.7 9.2 9.3 9.4 36.6 Interactive 12.1 13.6 15.1 17.8 58.6 Total $ 60.4 $ 80.3 $ 86.2 $ 77.2 $ 304.1 Adjusted EBIT
Slide 21: Non-GAAP Reconciliation: Q4 2025 Adjusted EBITDA by Segment
Non-GAAP Reconciliation: Q4 2025 Adjusted EBITDA by Segment Virtual Gaming Sports Interactive Leisure Corporate Total Net income (loss) $ 11.7 $ 4.2 $ 11.9 $ (0.5) $ (34.5) $ (7.2) Items Relating to Legacy Activities: Pension charges — — — — 0.3 0.3 Items outside the normal course of business: Costs
Slide 22: Non-GAAP Reconciliation: Q4 2024 Adjusted EBITDA by Segment
Non-GAAP Reconciliation: Q4 2024 Adjusted EBITDA by Segment Virtual Gaming Sports Interactive Leisure Corporate Total Net income (loss) $ 12.5 $ 6.1 $ 6.4 $ 1.2 $ 40.8 $ 67.0 Items Relating to Legacy Activities: Pension charges — — — — 0.3 0.3 Items outside the normal course of business: Costs of gr
Slide 23: Non-GAAP Reconciliation: FY 2025 Adjusted EBITDA
Non-GAAP Reconciliation: FY 2025 Adjusted EBITDA Virtual Gaming Sports Interactive Leisure Corporate Total Net income (loss) $ 27.6 $ 18.6 $ 34.7 $ 1.1 $ (99.0) $ (17.0) Items Relating to Legacy Activities: Pension charges — — — — 1.0 1.0 Items outside the normal course of business: Costs of group r
Slide 24: Non-GAAP Reconciliation: FY 2024 Adjusted EBITDA
Non-GAAP Reconciliation: FY 2024 Adjusted EBITDA Virtual Gaming Sports Interactive Leisure Corporate Total Net income (loss) $ 23.9 $ 30.0 $ 19.7 $ 9.8 $ (18.6) $ 64.8 Items Relating to Legacy Activities: Pension charges — — — — 1.1 1.1 Items outside the normal course of business: Costs of group res
Slide 25: Q4 2025 Pro Rated Segment Adjusted EBITDA Contribution
Q4 2025 Pro Rated Segment Adjusted EBITDA Contribution Virtual Corporate Gaming Sports Interactive Leisure Functions Total Total Revenue $ 36.3 $ 9.4 $ 17.8 $ 13.7 $ — $ 77.2 Segment % of Total Revenue 47.0% 12.2% 23.1% 17.7% 100.0% Adjusted EBITDA $ 19.8 $ 7.3 $ 13.1 $ 2.3 $ (10.2) $ 32.3 Corporate
Slide 26: Q4 2024 Pro Rated Segment Adjusted EBITDA Contribution
Q4 2024 Pro Rated Segment Adjusted EBITDA Contribution Virtual Corporate Gaming Sports Interactive Leisure Functions Total Total Revenue $ 38.8 $ 10.1 $ 11.6 $ 22.5 $ — $ 83.0 Segment % of Total Revenue 46.7% 12.2% 14.0% 27.1% 100.0% Adjusted EBITDA $ 19.5 $ 7.2 $ 8.2 $ 5.2 $ (9.2) $ 30.9 Corporate
Slide 27: 2025 Pro Rated Segment Adjusted EBITDA Contribution
2025 Pro Rated Segment Adjusted EBITDA Contribution Virtual Corporate Gaming Sports Interactive Leisure Functions Total Total Revenue $ 112.3 $ 36.6 $ 58.6 $ 96.6 $ — $ 304.1 Segment % of Total Revenue 36.9% 12.0% 19.3% 31.8% 100.0% Adjusted EBITDA $ 55.0 $ 26.8 $ 40.6 $ 21.2 $ (32.2) $ 111.4 Corpor
Slide 28: 2024 Pro Rated Segment Adjusted EBITDA Contribution
2024 Pro Rated Segment Adjusted EBITDA Contribution Virtual Corporate Gaming Sports Interactive Leisure Functions Total Total Revenue $ 110.6 $ 45.4 $ 39.3 $ 101.8 $ — $ 297.1 Segment % of Total Revenue 37.2% 15.3% 13.2% 34.3% 100.0% Adjusted EBITDA $ 45.3 $ 36.1 $ 25.6 $ 23.3 $ (30.2) $ 100.1 Corpo