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Appendix 4C Quarterly report for entities subject to Listing Rule 4.7B Appendix 4C , Quarterly Activities Report and Trading Update - Melbourne , Australia , 29 January 2021 Points Bet Holdings Limited ( ASX : PBH ) ( " PointsBet " or the " Company " ) is pleased to provide its Quarterly Cash Flow Report ( Appendix 4C ) for the quarter ending 31 December 2021 ( " Q2 FY21 ” ) ¹ . PointsBet also provides an overview on its trading performance for Q2 FY21 ( prior corresponding period being Q2 FY20 ( " PCP " ) ) as well as a trading update to 24 January 2021 . Due to the seasonal nature of the sports betting industry , quarterly figures are not intended to represent an indication of likely full year performance . QUARTERLY HIGHLIGHTS AND TRADING UPDATE PointsBet reported strong PCP growth across the following key metrics : Table 1. PointsBet Group – Q2 FY2021 Performance ( A $ m ) ² ** Trading Update ** Key metrics Q2 FY2021 Q2 FY2020 Change vs PCP 1 to 24 Jan FY21 YTD³ 2021 Turnover4 1,198.2 297.3 + 303.0 % 237.7 2,127.7 Aus 543.3 184.8 + 193.9 % 118.5 1,189.4 US 654.9 112.5 + 482.4 % 119.2 938.3 Gross Win5 83.4 28.9 + 189.2 % 32.3 186.1 Aus 75.5 20.7 + 264.4 % 14.4 150.4 US 7.9 8.1 -2.6 % 17.9 35.7 Gross Win Margin 7.0 % 9.7 % -2.7pp 13.6 % 8.7 % Aus 13.9 % 11.2 % + 2.7pp 12.1 % 12.6 % US 1.2 % 7.2 % -6.0pp 15.0 % 3.8 % Net Win6 44.6 18.0 + 148.1 % 22.9 105.7 Aus 49.8 14.6 + 239.7 % 9.2 94.0 US ( 5.1 ) 3.4 n.m. 13.7 11.7 Net Win Margin 3.7 % 6.1 % -2.3pp 9.7 % 5.0 % Aus 9.2 % 7.9 % + 1.2pp 7.8 % 7.9 % US ( 0.8 ) % 3.0 % -3.8pp 11.5 % 1.2 % No. Active Clients 211.1k 102.2k + 106.6 % Aus 143.0k 81.0k + 76.5 % US 68.1k 21.1k + 222.1 % 1 Unaudited and in Australian dollars unless otherwise stated 2 The AUD : USD foreign exchange rate used for the figures in the table was the average rate for the specified period 3 1 July 2020 to 24 January 2021 . 4 Turnover is the dollar amount wagered by clients before any winnings are paid out or losses incurred 5 Gross Win is the dollar amount received from Clients who placed losing bets less the dollar amount paid to Clients who placed winning bets , excluding the cost of pricing promotions 6 Net Win is the dollar amount received from clients who placed losing bets less the dollar amount paid to clients who placed winning bets , less client promotional costs ( the costs incurred to acquire and retain clients through bonus bets , money back offers , early payouts and enhanced pricing initiatives ) 7 Clients that have placed a bet in the 12 months preceding the relevant end date Page 1