Slide 1: FY 2025 results
FY 2025 results 26 March 2026
Slide 2: Agenda
Agenda 2 Mor Weizer Chief Executive Officer Overview Chris McGinnis Chief Financial Officer Financial review and outlook Mor Weizer Strategic priorities Chief Executive Officer FY 2025 results
Slide 3: Overview
Overview 3 Year of strategic transformation; Adjusted EBITDA ahead of expectations Strategic reset; Upgraded profit; Growth powered Confident 1 back to B2B roots 2 strong balance sheet 3 by key markets 4 outlook • Sale of Snaitech for • FY 25 Adjusted EBITDA • Strong underlying1 • On track to delive
Slide 4: Financial review and outlook
Financial review and outlook Chris McGinnis Chief Financial Officer
Slide 5: Financial highlights
Financial highlights 5 Good overall performance; results reflect the revised Caliente Interactive terms € millions1 FY 25 FY 24 % Group revenue 763.6 848.0 (10%) • Adjusted EBITDA of €197m; upgrade delivered in Feb-26, driven by strong Americas performance Adjusted EBITDA from operations 135.2 214.7
Slide 6: B2B performance
B2B performance 6 Strong underlying growth in our core markets Underlying1 € millions FY 25 FY 24 %. CC%.. %. Americas 209.9 251.6 (17%) (10%) 17% • Regulated B2B revenue up 6% (on an US and Canada 48.0 29.8 61% 71% 61% underlying basis) • Very strong growth from US and Canada; Latin America 161.9 2
Slide 7: B2B costs
B2B costs 7 Disciplined cost profile aligned with strategic growth initiatives € millions FY 25 FY 24 % Total Operations 301.9 307.6 (2%) • B2B costs increased by 3% YoY, driven by strategic investments in Live and higher G&A expenses Live operations 133.8 117.9 14% • Strategic investment into Live,
Slide 8: B2C performance
B2C performance 8 HAPPYBET wind-down nearing completion Revenue Adjusted EBITDA € millions FY 25 FY 24 % FY 25 FY 24 % HAPPYBET 12.2 18.9 (35%) (6.3) (11.8) n/a Sun Bingo and Other B2C 66.3 78.9 (16%) 0.1 4.5 n/a Total B2C 78.5 97.8 (20%) (6.2) (7.3) n/a HAPPYBET: • Adjusted EBITDA loss narrowed to
Slide 9: Net debt bridge from FY to FY
Net debt bridge from FY 24 to FY 25 9 Strengthened balance sheet position following the Snaitech sale 300 Leverage4 0.3x Net cash1 €29m Leverage4 0.3x • €29m net cash position at year end due to net proceeds from €2.3bn 200 143 Snaitech sale 100 • Paid a special dividend of c.€1.8bn 91 62 (59) • €62
Slide 10: Capital allocation policy; strong balance sheet provides flexibility
Capital allocation policy; strong balance sheet provides flexibility 10 Prioritising growth, flexibility for uncertainties, and returning surplus to shareholders Strategic investment Maintaining flexibility for Returning capital to 1 into growth 2 M&A and uncertainties 3 shareholders • Targeted capi
Slide 11: Levers to achieve medium-term Adjusted EBITDA target
Levers to achieve medium-term Adjusted EBITDA target 11 Delivering on growth, profitability and addressing underperformance Address underperforming businesses Turn US business profitable Adj. EBITDA c.€20m losses from underperforming €250m businesses Reach profitability in 2026 to €300m Partner with
Slide 12: Current trading and outlook
Current trading and outlook 12 Strong momentum; FY 2026 Adjusted EBITDA to be ahead of market expectations 1 Very strong start to 2026 2 Forecasts 3 Confident outlook • Excellent performance in • On track to deliver FY 26 • Well-positioned to achieve the Americas in Q1-26 Adjusted EBITDA ahead of ou
Slide 13: Strategic priorities
Strategic priorities Mor Weizer Chief Executive Officer
Slide 14: We offer solutions across the value chain
We offer solutions across the value chain 14 Leveraging our position to capitalise on market growth Broad and diversified product offering • One-stop-shop for customers Strong Live offering and Casino suite • High-quality offering for fastest growing vertical; highly popular casino content portfolio
Slide 15: A highly focused, valuable B2B business with ambitious targets
A highly focused, valuable B2B business with ambitious targets 15 A high growth B2B business combined with €1bn+ portfolio of high-quality assets High growth B2B business Highly valuable assets: BV* > €1bn Medium-term targets Medium-term targets Book BookValue Value and ownership and ownership Adjus
Slide 16: Medium-term strategic priorities
Medium-term strategic priorities 16 A focused B2B player; well-positioned to deliver our medium-term financial targets 1. Focus remains on regulated 2. Targeted product investment 3. Increased operational and regulating markets to drive profitable growth efficiency Ensureand agility our technology e
Slide 17: Unlocking Mexico's growth engine
Unlocking Mexico’s growth engine 17 Well-positioned to accelerate growth following the reset Caliente Interactive terms High-growth market Unrivalled position Strong financials 2026 opportunity • Market set to double • Undisputed market leader • Adjusted EBITDA • Mexico co-hosting in the next 5 year
Slide 18: Strong US growth; well-positioned to continue
Strong US growth; well-positioned to continue 18 Realising meaningful returns from our investments and driving profitability >110% >55% #1 >€10m Revenue growth Revenue growth 3rd party iGaming platform2 FY25 dividend contribution • Strong strategic growth within • Highly attractive margin profile •
Slide 19: Capturing Brazil's sizeable market opportunity
Capturing Brazil’s sizeable market opportunity 19 Driving expansion in Brazil’s attractive market through high-impact localised content • 50% of Latin America’s total GGR over the next 5 years1 • 150m adult population with 86% internet penetration2 • Economic powerhouse with deep passion for sports
Slide 20: Live Casino: Investing in expansion and innovation
Live Casino: Investing in expansion and innovation 20 Scaling Live operations to meet surging demand and drive profitable growth Market opportunity Playtech Live in FY 25 • Global Live Casino market GGR projected to double by 20301 • 10% Live revenue growth from regulated markets³ • Strong, double-d
Slide 21: Using AI & data to benefit our customers and our bottom line
Using AI & data to benefit our customers and our bottom line 21 Multiple opportunities to enhance product, revenue and operational efficiencies Revenue generation Revenue opportunities Strong foundations Productivity gains Cost opportunities Accelerated our AI and Content development Improved operat
Slide 22: Sustainability continues to underpin our strategy
Sustainability continues to underpin our strategy 22 Achieved several milestones within our 2025 sustainability commitments and targets Protect People Planet Partnerships • Increased female • Reduced Scope 1 and 2 • Supported >530,000 people representation in leadership location-based GHG through co
Slide 23: Final remarks
Final remarks 23 Strong momentum and clear path to deliver medium-term targets • Excellent start to 2026; on track to deliver FY 2026 Adjusted EBITDA ahead of current market expectations • Good momentum in the Americas; clear runway for further growth in the US and Latin America • Robust balance she
Slide 24: Appendix
24 Appendix
Slide 25: Summary by division
Summary by division 25 Excluding Caliente Interactive impact1 € millions FY 25 FY 24 % FY 25 FY 24 % Revenue 688.3 754.3 (9%) 678.3 673.7 1% B2B Adjusted EBITDA 141.4 222.0 (36%) 132.0 146.6 (10%) Adjusted EBITDA margin 20.5% 29.4% 19.5% 21.8% Revenue 78.5 97.8 (20%) 78.5 97.8 (20%) B2C Adjusted EBI
Slide 26: FY 25 excluding impact of the revised Caliente agreement
FY 25 excluding impact of the revised Caliente agreement 26 € millions FY 25 FY 24 % Group revenue 763.6 848.0 (10%) Deducting Caliente Interactive additional B2B services fee 10.0 80.6 (88%) Revenue excluding Caliente Interactive impact 753.6 767.4 (2%) Group Adjusted EBITDA 197.0 217.5 (9%) Deduct
Slide 27: Share of income from associates and dividends breakdown
Share of income from associates and dividends breakdown 27 € millions FY 25 FY 24 Caliente Interactive1 54.5 - LSports 0.7 2.9 TSN (0.8) (0.2) Galera - - NorthStar (3.9) (3.2) Algosport 1.0 - Share of Income from associates 51.5 (0.5) Hard Rock Digital 10.3 3.2 Algosport - 0.1 Dividends 10.3 3.3 Tot
Slide 28: B2B cost breakdown
B2B cost breakdown 28 € millions FY 21 FY 22 FY 23 FY 24 FY 25 YoY % Total Operations 256.2 285.3 296.9 307.6 301.9 (2%) Live operations 63.4 78.8 96.3 117.9 133.8 14% Structured agreement and managed services 47.4 52.2 54.2 43.4 36.9 (15%) Other operations 139.6 142.7 136.7 136.6 122.5 (10%) Hardwa
Slide 29: B2B customer concentration
B2B customer concentration 29 B2B customer concentration FY 25 FY 24 Top 3 27% 35% Top 5 35% 42% Top 10 49% 54% Top 15 57% 62% *Note: Excluding the impact of the Caliente Interactive revised agreement, B2B customer concentration was broadly stable YoY. FY 2025 results
Slide 30: Contingent consideration
Contingent consideration 30 Maximum payable earnout Contingent consideration Payment date (based on maximum Acquisition (at time of acquisition) (as at 31 December 2025) payable earnout) Aus GMTC PTY Ltd €42.6m €8.6m Paid in Q1 2026 FY 2025 results
Slide 31: USA iGaming and Sports regulation - state of play
USA iGaming and Sports regulation - state of play 31 Playtech iGaming iGaming regulated Only Sports regulated FY 2025 results
Slide 32: Thank you
32 Thank you