Slide 1: Full-year results for the year ended 30 June 2026
19 August 2026 ASX Market Announcements Office ASX Limited 20 Bridge Street Sydney NSW 2000 INVESTOR PRESENTATION FULL-YEAR RESULTS FOR THE YEAR ENDED 30 JUNE 2026 Attached is an investor presentation that will be delivered at The Lottery Corporation’s 2026 full-year results briefing today. The brie
Slide 2: FY26 Full Year Results Presentation
FY26 Full Year Results Presentation Full Year ended 30 June 2026 19 August 2026
Slide 3: Contents
Contents 3 - 5 CEO Introduction 7 - 11 Group Overview 13 - 20 Business Results 22 - 24 Strategy & Conclusion 26 - 34 Appendices 2
Slide 4: Where Australia Comes to Play
Where Australia OUR VISION From a lottery operator to a digitally-led entertainment platform Comes to Play A trusted home for lottery products, in retail and on device Preserving the licence-led, trust-based model that has underpinned our success, modernised for how Australians play today HOW WE GET
Slide 5: Our Investment Case
Our Investment Case: Strong infrastructure-like foundations with clear levers for accelerating growth T H E G R O W T H R U N W A Y : Three structural levers to accelerate growth PRODUCT DIGITAL TECHNOLOGY Product renewal Digital experience shift Data & AI-leverage New formats, optimised game mechan
Slide 6: How TLC will seek to compound value
How TLC will seek to compound value 01 02 03 04 05 More known customers Deeper engagement Stronger economics Modernise Keno Maintain licence value • Grow registered customers • Leverage new formats, • Margin expansion from • New technology platform • Active engagement and through conversion of stron
Slide 7: Contents
Contents 3 - 5 CEO Introduction 7 - 11 Group Overview 13 - 20 Business Results 22 - 24 Strategy & Conclusion 26 - 34 Appendices 6
Slide 8: FY26 Results Overview
FY26 Results Overview Platform for accelerated growth established; dividend maintained Resilient underlying performance in Full year dividend maintained at 16.5 cps2, an especially unfavourable period for fully franked: reflects confidence in health of jackpots (a 1 in c.45 year outcome)1 the busine
Slide 9: FY26 Key Achievements
FY26 Key Achievements Strategic refresh and operational reset position TLC for the next growth phase Group Lotteries Keno • Refreshed strategy • 40-year extension of Victorian • New terminal rollout completed licence for Queensland • New operating model effective from 1 July 2026 • Successful Saturd
Slide 10: FY26 Group Results
FY26 Group Results Change $m FY26 FY25 $ % Revenue1,2 3,582.5 3,682.7 (100.2) (2.7%) Variable contribution 1,032.0 1,056.4 (24.4) (2.3%) Operating expenses2 (295.9) (307.1) 11.2 3.6% EBITDA (before significant items)2,3 736.1 749.3 (13.2) (1.8%) D&A (114.1) (105.1) (9.0) (8.6%) Impairment reversal4
Slide 11: Group EBITDA
Group EBITDA Historically low jackpot offers (1 in c.45 year outcome)1 partly offset by impact of price retention from game changes and operational discipline Highly unfavourable Powerball and, especially, Oz Lotto jackpot outcomes vs pcp 749.3 11.2 736.1 52.5 3.1 (80) Saturday lotto and Powerball g
Slide 12: Capital, Opex and Other Metrics
Capital, Opex and Other Metrics Dividend maintained; strong investment-grade credit rating reaffirmed post Victorian licence extension Ordinary FY26 16.5 cps $296m 3 Opex Payout Ratio: 107% Guidance: FY26 Opex $300 - $310m (FY25: 16.5 cps ) Guidance: FY27 Opex $305 - $315m4 Dividend (fully franked)
Slide 13: Contents
Contents 3 - 5 CEO Introduction 7 - 11 Group Overview 13 - 20 Business Results 22 - 24 Strategy & Conclusion 26 - 34 Appendices 12
Slide 14: Lotteries: Result Summary
Lotteries: Result Summary Historically low jackpot offers (1 in c.45 year outcome) partly offset by impact of price retention from game changes and operational discipline $m FY26 FY25 Change Revenue1 3,218.2 3,329.1 (3.3%) Positive impact of game changes and active portfolio management Variable cont
Slide 15: Lotteries: KPIs – Customers & Channel
Lotteries: KPIs – Customers & Channel Customer numbers impacted by low jackpot offers; digital share growth continues, with refreshed strategy focused on unlocking significant digital opportunity Number of Active Registered Customers - last 52 weeks1 (000’s) Turnover by Channel - All Products ($m) E
Slide 16: Lotteries: KPIs – Product
Lotteries: KPIs – Product Growth in base games was resilient and partially offset reduction in jackpot game turnover consistent with reduction in Division 1 offers Turnover by Product Type ($m) Turnover Growth - FY26 vs FY25: Actual vs Same jackpots Same jackpots/ Product Actual1 7,347 like-for-like
Slide 17: Lotteries: KPIs – Jackpot Games
Lotteries: KPIs – Jackpot Games Below-average jackpots (FY26 a 1 in c.45 year outcome) impacted turnover by c.$700m1,2 Cumulative Jackpot Value Offered ($m) Powerball and Oz Lotto Major Jackpots No $100m+ Powerball jackpot for first 2,690 Includes Powerball jackpots time since FY21; no $50m+ Oz Lott
Slide 18: Lotteries: Jackpot Games - Draw Performance
Lotteries: Jackpot Games - Draw Performance 1 Win rates well above statistical expectations for mid-level draws meant both games did not roll through to the higher levels where turnover potential is greatest Powerball Oz Lotto Expected wins Actual wins Expected wins Actual wins Actual wins Draws Dra
Slide 19: A Proven Price-retention Strategy
A Proven Price-retention Strategy Price-led optimisation is a proven and sustainable long-term growth lever OBSERVED 63% 100% Powerball retention Saturday lotto retention RESULTS on a +16.7% price rise1 on a +13.3% price rise2 THE PIPELINE — ONE PLAYBOOK, MANY CHAPTERS Powerball DONE Set for Life IM
Slide 20: Keno: Result Summary
Keno: Result Summary Continued retail growth $m FY26 FY25 Change Retail growth benefited from enhanced configuration of in-venue Keno Revenue1 364.3 353.6 3.0% collateral to maximise visibility and engagement, and continued lift in Variable contribution 152.0 148.9 2.1% effectiveness of local area m
Slide 21: Keno: KPIs
Keno: KPIs Continued retail growth whilst cycling a well-above average Keno Classic jackpot run in the pcp; online Keno expected to be discontinued from 1 January 20271 Turnover by Channel ($m) Keno Turnover by Product ($m) +2.3% +2.3% vs pcp vs pcp 1,622 1,659 1,622 1,659 1,551 167 1,551 88 93 +5.7
Slide 22: Contents
Contents 3 - 5 CEO Introduction 7 - 11 Group Overview 13 - 20 Business Results 22 - 24 Strategy & Conclusion 26 - 34 Appendices 21
Slide 23: TLC Strategy on a Page
TLC Strategy on a Page Three priorities turn the growth runway into an executable strategy CONSUMER PROPOSITION Where Australia Comes to Play PILLAR 1 PILLAR 2 PILLAR 3 Strengthen domestic Lead in digital Build a high-performance market position entertainment enterprise • Renew and grow the core lot
Slide 24: FY27 Key Priorities
FY27 Key Priorities1 Priority initiatives to grow participation, engagement and customer value Lotteries Digital Keno Strengthen TLC’s Scale the primary Modernise a venue- licence-backed, growth engine and led, social play asset core business innovation platform • Continue to deploy price retention
Slide 25: Conclusion
Conclusion Strategic refresh and operational reset position TLC for the next growth phase Resilient financial performance in FY26 • Result impacted by especially unfavourable jackpots • Healthy retention of price increases • Operating expense reduction and cost discipline • Full year dividend mainta
Slide 26: Contents
Contents 3 - 5 CEO Introduction 7 - 11 Group Overview 13 - 20 Business Results 22 - 24 Strategy & Conclusion 26 - 34 Appendices 25
Slide 27: Appendix 1: Significant Items (FY26)
Appendix 1: Significant Items (FY26)1 Impairment of ACT licence Significant items ($m) Pre Tax Post Tax • Represents full impairment of the Group's licence to operate Keno in the ACT, which includes authority to operate online Keno. The licence value arose when it was fair Impairment of ACT licence
Slide 28: Appendix 2A: Group Results
Appendix 2A: Group Results $m 1H26 1H25 Change 2H26 2H25 Change FY26 FY25 Change Revenue1,2 1,782.1 1,746.6 2.0% 1,800.4 1,936.1 (7.0%) 3,582.5 3,682.7 (2.7%) Variable contribution 513.0 511.6 0.3% 519.0 544.8 (4.7%) 1,032.0 1,056.4 (2.3%) Operating expenses2 (146.0) (141.9) (2.9%) (149.9) (165.2) 9
Slide 29: Appendix 2B: Lotteries Results
Appendix 2B: Lotteries Results $m 1H26 1H25 Change 2H26 2H25 Change FY26 FY25 Change Revenue1 1,593.5 1,608.8 (1.0%) 1,624.7 1,720.3 (5.6%) 3,218.2 3,329.1 (3.3%) Variable contribution 432.9 435.8 (0.7%) 447.1 471.7 (5.2%) 880.0 907.5 (3.0%) Operating expenses (124.3) (121.1) (2.6%) (129.1) (140.2)
Slide 30: Appendix 2C: Keno Results
Appendix 2C: Keno Results $m 1H26 1H25 Change 2H26 2H25 Change FY26 FY25 Change Revenue1 188.6 175.9 7.2% 175.7 177.7 (1.1%) 364.3 353.6 3.0% Variable contribution 80.1 75.8 5.7% 71.9 73.1 (1.6%) 152.0 148.9 2.1% Operating expenses (21.7) (20.8) (4.3%) (20.8) (25.0) 16.8% (42.5) (45.8) 7.2% EBITDA 5
Slide 31: Appendix 3: Lotteries – Turnover by Game
Appendix 3: Lotteries – Turnover1 by Game Turnover by Game ($m) FY26 Turnover by Game Change FY26 FY25 Game $m % 2% 2% Powerball 2,339 2,296 43 1.9% 7% Oz Lotto 915 1,344 (429) (31.9%) 5% Powerball Jackpot Games 3,254 3,640 (386) (10.6%) 36% Oz Lotto 7% Saturday lotto 1,741 1,592 149 9.4% Saturday l
Slide 32: Appendix 4: Debt
Appendix 4: Debt Debt Debt Structure & Maturities ($m) $m Jun-26 800 Interest margins/rates Gross debt - excluding lease liabilities (at spot)1 2,426.3 • Average hedged USPP rate: 5.7% 600 • Bank facility margin over BBSY Less: Benefit of FX hedges on USPP principal2 (177.1) o 3 year 110 bps Gross d
Slide 33: Appendix 5: Balance Sheet, Cash Flow and Capex
Appendix 5: Balance Sheet, Cash Flow and Capex Balance Sheet Cash flow $m Jun-26 $m FY26 Total current assets 780.3 Net operating cash flows 715.5 Licences 1,706.4 Net interest paid (116.1) Other intangible assets 2,252.7 Income tax paid (177.5) Property, plant and equipment 125.4 Payments for prope
Slide 34: Appendix 6: Disciplined management of game pricing and product levers
Appendix 6: Disciplined management of game pricing and product levers has underpinned long term turnover growth TLC Turnover – Proforma1 Lotteries and Keno (A$bn)2,3 COVID-19 CAGR: FY06 - FY26 Lotteries 3.2% 4.8% Global Financial Crisis p.a. Keno 4.4% 8.9 CAGR: FY18 - FY26 8.4 8.0 8.1 8.2 Lotteries
Slide 35: Appendix 7: Glossary
Appendix 7: Glossary Term Definition Term Definition 1H/2H Six months ended 31 December/30 June of the relevant financial year IFRS International Financial Reporting Standards AAS Australian Accounting Standards Jackpot games Powerball and Oz Lotto A game of chance that is played approximately every
Slide 36: Disclaimer
Disclaimer This presentation (Presentation) contains summary information about the current activities of The Lottery Corporation Limited (The Lottery Corporation) and its subsidiaries. It should be read in conjunction with The Lottery Corporation’s other periodic and continuous disclosure announceme
Slide 37: The Lottery Corporation
The wZ Lottery Corporation