Slide 1: H1 2025 results
H1 2025 results 11 September 2025
Slide 2: Agenda
AGENDA 2 Mor Weizer Chief Executive Officer Highlights Chris McGinnis Chief Financial Officer Financial review and outlook Mor Weizer Strategic priorities Chief Executive Officer H1 2025 results
Slide 3: Highlights
Highlights 3 Strong H1 25 performance; on track to deliver FY 2025 ahead of expectations • Adjusted EBITDA of €92 million, consistent with upgraded expectations in August • Overall performance reflects the initial impact of the revised Caliente Interactive agreement • Solid underlying B2B growth; ex
Slide 4: Financial review and outlook
Financial review and outlook Chris McGinnis Chief Financial Officer
Slide 5: Financial highlights
Financial highlights 5 Robust underlying performance; results reflect impact of revised Caliente Interactive terms Excluding impact of Caliente Interactive terms1 € millions2 H1 2025 H1 2024 % H1 2025 H1 2024 % • Group revenue down 10% YoY in H1 25 due to impact of revised Group revenue 387.0 429.7
Slide 6: B2B performance
B2B performance 6 Solid underlying growth with good cost control Underlying1 € millions H1 2025 H1 2024 %. CC%.. %. • Latin America growth impacted by revised Caliente Interactive terms Americas 109.5 141.6 (23%) (13%) 14% and Colombia VAT, partly offset by US and Canada 21.8 13.3 64% 68% 64% Brazil
Slide 7: B2C performance
B2C performance 7 Good progress addressing underperforming/non-core businesses Revenue Adjusted EBITDA € millions H1 2025 H1 2024 % H1 2025 H1 2024 % HAPPYBET 7.8 9.6 (19%) (2.3) (6.6) n/a Sun Bingo and Other B2C 33.2 39.9 (17%) 0.8 2.3 (65%) Total B2C 41.0 49.5 (17%) (1.5) (4.3) n/a HAPPYBET: • Adj
Slide 8: Net debt bridge from FY 2024 to H1 2025
Net debt bridge from FY 2024 to H1 2025 8 Strong balance sheet following sale of Snaitech 300 Leverage3 0.3x Leverage3 0.1x • €77m closing H1 25 net cash 63 15 position due to net proceeds from 200 Snaitech sale 143 (4) 7 • €15m net debt position on a pro 100 forma basis € millions 15 • Final €150m
Slide 9: Capital allocation policy
Capital allocation policy 9 Investing for growth, disciplined M&A and shareholder returns • Strong balance sheet provides flexibility around capital allocation • Strategic investments for growth o Focused capital deployment into high-growth areas such as Live Casino o Investments into new and existi
Slide 10: Levers to achieve medium-term Adjusted EBITDA target
Levers to achieve medium-term Adjusted EBITDA target 10 Focusing on growth, efficiencies and addressing underperforming businesses Address underperforming businesses Turn US business profitable FY 24 EBITDA >€20m losses from underperforming €250m businesses c.€15m FY 24 US EBITDA losses to €300m Par
Slide 11: Outlook
Outlook 11 On track to deliver FY 2025 EBITDA ahead of expectations; confident over medium-term • Solid start to H2 2025 with normal seasonality • Plans to increase investment for growth in the US and Brazil in the second half of 2025 • On track to deliver FY 2025 Adjusted EBITDA ahead of expectatio
Slide 12: Strategic priorities
Strategic priorities Mor Weizer Chief Executive Officer
Slide 13: A transformational first half of the year for Playtech
A transformational first half of the year for Playtech 13 Sale of Snaitech and revised Caliente Interactive agreement both completed in H1 2025 Disposal resulted in significant shareholder value Revised strategic agreement completed on creation with cash generation >3x initial investment 31 Marc
Slide 14: Leaving Playtech as a highly focused B2B business
Leaving Playtech as a highly focused B2B business 14 Investment case: a high growth B2B business combined with highly valuable assets High growth B2B business Highly valuable assets: BV* > €1bn Medium-term targets Book Value and Ownership Adjusted EBITDA Free Cash Flow €726m 30.8% Equity stake €250m
Slide 15: Medium-term strategic priorities
Medium-term strategic priorities 15 Clear path to deliver on our medium-term EBITDA target of €250m to €300m 1. Focus on regulating 2. Targeted product investment 3. Increase operational and regulated markets to drive profitable growth efficiency Ensureand agility our technology enables future innov
Slide 16: Continued strength with Caliente Interactive
Continued strength with Caliente Interactive 16 Leading position in Mexico to drive strong growth; enhanced by international expansion Attractive Mexican market Unrivalled brand in Mexico Mexican online market set to grow at 21% y/y in 20251 Unmatched brand visibility and engagement Capacity f
Slide 17: Strong US growth set to continue
Strong US growth set to continue 17 Investing for growth in short-term; driving towards profitability over medium-term Increasing wallet share with tier one operators Expanding with existing operators in new states 4th iGaming State: West Virginia >50 live tables active across our 3 US studios Capit
Slide 18: Well-positioned for growth in Brazil
Well-positioned for growth in Brazil 18 Capturing Brazil’s regulated market opportunity with focused investment and partnerships • Market regulated on 1 January 2025 >200m population • Market projected to reach $17.0bn in GGR by 20301 at 15% CAGR • Initial headwinds on transition to regulated market
Slide 19: Live Casino: Investing in expansion
Live Casino: Investing in expansion 19 Scaling Live operations to meet demand and unlock profitable growth Strong H1 2025 performance Growing with major operators and signing new brands • +9% revenue growth in H1 25 • >300% growth in US • >470 tables (+5% v 2024) across 15 studios Increasing investm
Slide 20: Leveraging our expertise to drive revenue growth
Leveraging our expertise to drive revenue growth 20 Services: making the most out of Playtech’s technology • Deep industry expertise built over years of partnerships MANAGED ADVISORY • Operators benefit from enhanced product optimisation SERVICES SERVICES • Historically, Services division has focuse
Slide 21: Our investment case
Our investment case 21 A high growth B2B business combined with highly valuable assets High growth B2B business Highly valuable assets: BV* > €1bn Medium-term targets Book Value and ownership Adjusted EBITDA Free Cash Flow €726m 30.8% Equity stake €250m to €300m €70m to €100m €150m LSD2 Equity H1-25
Slide 22: Appendix
22 Appendix
Slide 23: Summary by division
Summary by division 23 Excluding Caliente Interactive impact1 € millions H1 2025 H1 2024 % H1 2025 H1 2024 % Revenue 347.6 382.2 (9%) 337.6 328.2 3% B2B Adjusted EBITDA 73.3 112.3 (35%) 63.9 61.8 3% Adjusted EBITDA margin 21.1% 29.4% 18.9% 18.8% Revenue 41.0 49.5 (17%) 41.0 49.5 (17%) B2C Adjusted E
Slide 24: Excluding the Caliente Interactive impact to H1 2025 numbers
Excluding the Caliente Interactive impact to H1 2025 numbers 24 € millions H1 2025 H1 2024 % Group revenue 387.0 429.7 (10%) Deducting Caliente Interactive additional services fee (10.0) (54.0) (81%) Revenue excluding Caliente Interactive impact 377.0 375.7 0% Group Adjusted EBITDA 91.6 109.5 (16%)
Slide 25: Share of income from associates and dividends breakdown
Share of income from associates and dividends breakdown 25 € millions H1 2025 H1 2024 Caliente Interactive 20.3 n/a LSports (1.7) 2.0 TSN (0.2) (0.2) Galera 0.0 0.0 NorthStar (1.7) (2.0) Algosport 1.0 0.0 Hard Rock Digital dividend 2.1 1.6 Algosport dividend 0.0 0.1 Total 19.8 1.5 H1 2025 results
Slide 26: Reconciliation of Snaitech net proceeds post dividend payment
Reconciliation of Snaitech net proceeds post dividend payment 26 € millions Snaitech sale price 2,311.8 Transaction costs (68.7) Snaitech cash net of player liabilities and progressive jackpots (181.5) Disposal of other assets 5.9 Sale proceeds 2,067.5 Dividend (1,766.2) Net proceeds 301.3 H1 2025 r
Slide 27: B2B cost breakdown
B2B cost breakdown 27 € millions H1 2021 H1 2022 H1 2023 H1 2024 H1 2025 Total Operations 119.5 146.1 148.6 155.1 154.7 Live operations 30.1 35.8 45.9 54.1 69.5 Structured agreement and managed services1 23.8 26.1 26.8 24.6 16.5 Other operations2 62.5 78.7 71.4 72.7 64.5 Hardware costs 3.1 5.5 4.5 3
Slide 28: B2B customer concentration
B2B customer concentration 28 B2B customer concentration H1 2025 H1 2024 Top 3 28% 40% Top 5 36% 46% Top 10 51% 58% Top 15 59% 65% H1 2025 results
Slide 29: Contingent consideration
Contingent consideration 29 Maximum payable earnout Contingent consideration Payment date (based on maximum Acquisition (per terms of acquisition) (as at 30 June 2025) payable earnout) Aus GMTC PTY Ltd €42.6 million €9.8 million Q1 2026 H1 2025 results
Slide 30: Sustainability underpins our strategy
Sustainability underpins our strategy 30 Progressing towards our 2025 sustainability commitments Protect People Planet Partnerships SBTi* validated our near-term and net zero targets, across Scopes 1, 2 (market-based) and 3, with baseline 2022: 25 in 15 • 50.4% by 2032 Brands Jurisdictions • 90.0% b
Slide 31: Thank you
31 Thank you