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1ST QUARTER 2025 REVENUE 15 APRIL 2025
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2 This document may contain certain forward-looking statements which are based on estimations and forecasts. By their nature, these forward-looking statements are subject to important risks and uncertainties and factors beyond our control or ability to predict, in particular those described in FDJ UNITED registration document which is available on the website (https: //www.fdjunited.com/publications-and-results/). These forward-looking statements should not be considered as a guarantee of future performance, the actual results could differ materially from those expressed or implied by them. The forward-looking statements only reflect Group’s views as of the date of this document, and FDJ UNITED does not undertake to revise or update these forward-looking statements. The forward-looking statements should be used with caution and circumspection and in no event can FDJ UNITED and its management be held responsible for any investment or other decision based upon such statements. The information in this document does not constitute an offer to sell or an invitation to buy shares in FDJ UNITED or an invitation or inducement to engage in any other investment activities. DISCLAIMER
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3 Q1 2025 HIGHLIGHTS Q1 REVENUE OF €925M, UP +30% ON A REPORTED BASIS OR DOWN -1% AT COMPARABLE PERIMETER ◆ Good momentum in French lottery & retail sports betting, with revenue up +4% to €640m, based on stakes up +6% ◊ Retail (PoS) revenue of €561m, up +2% based on stakes up +5% ◊ Online lottery revenue growth of +14% to €79m driven by a strong increase in active players totalling 5.8m (LTM) ‒ Representing 15% of lottery games revenue vs. 14% in Q1 2024 ◆ Online betting & gaming revenue of €231m, down -10% at constant currency ◊ Solid growth in active players: more than +5% vs. Q4 2024 and nearly +10% vs. Q1 2024 ◊ Negative impacts, as previously flagged, from stricter regulation implementation (UK & NL) and increased gaming taxation (NL) ◊ Revenue up +8% excluding UK & NL thanks to the good performance recorded in other markets, notably France Notes: - Revenue: net gaming revenue and revenue from other activities - Pro forma: as if Kindred had been acquired on 01/01/2024 and based on the perimeter of business retained by FDJ UNITED
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4 Q1 2025 REVENUE: €925M DOWN -1% AT COMPARABLE PERIMETER Q1 2025 reported revenue vs. Q1 2024 pro forma (€m) Q1 2025 reported revenue split by BU (%; €m) French Lottery & retail Sports betting Online Betting & Gaming International Lottery Payment & Services 69% 25% 4% 2% 925 618 640 256 231 49 38 Q1 2024 pro forma Q1 2025 reported 1615 938 925 -1%
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5 FRENCH LOTTERY & RETAIL SPORTS BETTING REVENUE OF €640M, UP +4% BASED ON STAKES UP +6% ◆ Lottery revenue up +5% to €528, driven by both draw and instant games ◊ Draw games: excellent Euromillions performance with a very high rollover jackpot that lasted throughout March ‒ Record quarter: 11 jackpots > €75m, o/w 7 > €130m driving the recruitment of new players, notably online ◊ Instant games: successful launches such as Royaume d’Or or Exploration Jungle, an online exclusive ◊ Online revenue up +14% to €79m ‒ 5.8m online player (LTM) vs. 5.6m at FY 24-end ‒ 15% online penetration rate in Q1 2025 vs. 14% in Q1 2024 ◆ Retail sports betting revenue down -1% to €112m ◊ Increase in stakes driven by new UEFA formats generating more events and good performance from French clubs (Brest, Lille, Lyon, Monaco & Paris) ◊ But lower operator margin vs. Q1 2024, due to unfavourable results
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6 ONLINE BETTING & GAMING REVENUE OF €231M, DOWN -10% AT CONSTANT CURRENCY ◆ Solid growth in active players: more than +5% vs. Q4 2024 and nearly +10% vs. Q1 2024 ◆ As previously flagged, a negative impacts from stricter regulation implementation (UK & NL) and increased gaming taxation (NL) ◊ NL: revenue down -41% ‒ Predominantly: new net deposit limits in place since 01/10/2024 ‒ To a lesser extent: higher gaming taxation on 01/01/2025 (from 30.5% of GGR to 34.2%) and sports gross operator margin decline of more than 100bps ◊ UK: revenue down -27% ‒ Tough YoY comparable base vs. Q1 2024 ‒ Negative impact of regulation implementation ◆ Excluding UK & NL, revenue is up +8%, driven by a good performance in other markets, notably France ◆ FDJ UNITED continued to deploy proprietary platforms: ◊ France: beginning of February, finalisation of the separation of players accounts between lottery and betting/gaming open to competition ◊ UK: early March, successful migration of 32Red
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7 2025 FINANCIAL CALENDAR MAY JUNE AUGUST SEPTEMBERJULY OCTOBER 15 October Q3 Revenue After trading hours 24 June Capital Markets Day 30 July H1 Results After trading hours 22 May General Meeting of Shareholders
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APPENDIX 8
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9 2024 PRO FORMA REVENUE BY BUSINESS UNIT (in €m) 2024 pro forma (non audited) Q1 Q2 Q3 Q4 FY French lottery & retail sports betting 618 627 582 677 2,503 Online betting & gaming 256 271 248 256 1,030 International lottery 49 48 45 49 191 Payment & Services 15 17 16 17 64 Group Total 938 962 890 998 3,788 Notes: - Revenue: net gaming revenue and revenue from other activities - Pro forma: as if Kindred had been acquired on 01/01/2024 and based on the perimeter of business retained by FDJ UNITED
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10 FRENCH FISCAL REGIME GGR = Gross gaming revenue (stakes less player winnings)
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