Quarterly statement Q3 2025 Interim Financial Report 2025

‌Dear ladies and gentlemen, dear shareholders,

In the second half of this year, the Group is increasingly focusing on further strengthening the "bet-at-home" brand in its core markets, Germany and Austria, and on sustainably expanding its market position. At the same time, the focus lies on enhancing customer satisfaction, optimizing efficient and scalable processes, and taking a forward-looking approach to legal and regulatory developments.

The dominance of the sports betting offering in the product portfolio and its dependence on the sports event calendar are leading to stronger seasonal fluctuations in the current year, as no revenue-relevant, off-season major sporting event takes place this year. In September, the margins in the sports betting segment were affected by adverse sporting results. Consequently, the GGR in the sports betting segment was 8.4% below the previous year's level. In contrast, the online casino showed a positive development, with its GGR increasing by 19.4% year-on-year. Overall gross betting and gaming revenues decreased in the first three quarters of 2025 by 5.4% compared to the previous year to EUR 35,583 thousand.

The increase in betting tax in Austria, effective 1 April 2025, had a negative impact on net betting and gaming revenues in the period comparison. Net betting and gaming revenues amounted to EUR 27,280 thousand, down 8.0% compared to the previous year's period. The passing on of the increased costs to customers from June 2025 onwards could impair competitiveness, particularly since major competitors have so far borne these costs themselves. The Group will continue to develop and, if necessary, adjust its strategy in line with the competitive environment, as well as with a view to long-term profitability and market positioning.

Personnel expenses at EUR 6,248 thousand remained relatively stable in the first three quarters of 2025. Marketing investments declined by 9.3% to EUR 12,530 thousand year-on-year. Other operating expenses amounted to EUR 8,520 thousand, down 36.7% compared to the previous year. The higher level of other operating expenses in the first three quarters of last year was primarily due to events relating to earlier financial periods - in particular, a provision resulting from a ruling in Switzerland which classified sports betting as an electronically supplied service and therefore subject to Swiss VAT, as well as from expenses in connection with claims for reimbursement of gambling losses.

As a result of the above-mentioned factors, EBITDA before special items amounted to EUR 2,121 thousand in the first three quarters of 2025, down 25.2% compared to the previous year's period.

Cash and cash equivalents within the bet-at-home.com AG Group totaled EUR 28,832 thousand as of 30 September 2025.

Claus Retschitzegger CEO

‌Composition of revenues

* includes online slots

* includes online slots

• ‌Gross betting and gaming revenues amounted to EUR 35,583 thousand and

  were down 5.4% compared to the previous year.

  The dominance of the sports betting offering in the product portfolio led to seasonal fluctuations, as no revenue-relevant, off-season major sporting events take place this year. In addition, adverse sporting results impacted margins in the sports betting segment in September. The GGR in the sports betting segment was 8.4% below the previous year's level.

  In contrast, the online casino recorded a positive development compared to the previous year, with its GGR increasing by 19.4% year-on-year.

• Personnel expenses remained stable compared to the previous year at EUR 6,248 thousand.

• Marketing expenses declined by 9.3% year-on-year.

• Other operating expenses decreased by 36.7% to EUR 8,520 thousand compared to the previous year. In the prior year, other operating expenses included events relating to earlier financial years, in particular a provision resulting from a court ruling in Switzerland, according to which sports betting was classified as an electronically supplied service and therefore subject to Swiss VAT, as well as from expenses in connection with claims for reimbursement of gambling losses.

• EBITDA before special items* in the first three quarters of 2025 was below the previous year's level and stood at EUR 2,121 thousand.

*) For the definition of the non-IFRS performance indicator "EBITDA before special items" please refer to Section V.5 ("Other financial information - EBITDA before special items as an alternative performance indicator") of the Notes of financial statements for FY 2024.

‌Development of cash & cash equivalents and Group equity

• The Group's consolidated equity as of 30 September 2025 totalled EUR 23,065 thousand (31 December 2024: EUR 22,992 thousand).

  Group equity 23,065 22,992

• The equity ratio as of 30 September 2025 stood at 45.2% (31.12.2024: 43.6%), due to an increase in equity resulting from the total comprehensive income in the first three quarters 2025 in the amount of EUR 73 thousand.

• Cash and cash equivalents within the bet-at-home.com AG Group amounted to EUR 28,832 thousand as of 30 September 2025 (31.12.2024: EUR 29,746 thousand).

  ‌Outlook for the current Financial Year 2025

  Due to numerous significant uncertainties that could impact the company's business performance, the Management Board of the bet-at-home.com AG Group currently expects for the 2025 fiscal year an expanded range of key performance indicators as follows:

  • Gross betting and gaming revenues: EUR 46,000 thousand to EUR 54,000 thousand

  • EBITDA before special items: EUR 0 thousand to EUR 4,000 thousand

Investor Relations

ir@bet-at-home.com

+49 211 545 598 77

https://www.bet-at-home.ag

‌This presentation is for information purposes only and contains written documentation or slides for a presentation on bet-at-home.com AG ("the company") and its operations. This presentation does not constitute a solicitation or offer to sell, purchase or subscribe to shares in the company. The information and opinions expressed therein do not form the basis of any contract or investment decision.

This presentation contains forward-looking statements, that means statements which are not historical facts, including statements about the beliefs and expectations of the company and the company's objectives in regards to the future development of the business. These statements are based on current plans, estimates as well as projections and therefore should not be excessively evaluated by investors. Forward-looking statements are only relevant as of the date in which they are made and the company is not obliged to make such statements in terms of new information, future developments up to the latest date and publish revised statements.

Although this presentation has been prepared with the utmost care with respect to the accuracy of the facts, the material within this presentation has not been checked by the company. Neither the company, its managers or any third party offer any guarantee, expressed or implied in underlying the accuracy or completeness of this presentation, information or opinions. Neither the company or any of its members, managers, representatives or employees or any third party shall have any liability for any damages arising from the use of this presentation or its contents or in connection therewith.