Earnings release
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1 Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. GALAXY ENTERTAINMENT GROUP LIMITED 銀河娛樂集團有限公司 (incorporated in Hong Kong with limited liability) (Stock Code: 27) ANNOUNCEMENT ON CERTAIN SELECTED UNAUDITED KEY PERFORMANCE INDICATORS FOR THE THIRD QUARTER ENDED 30 SEPTEMBER 2025 This announcement is issued pursuant to Rule 13.09(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (“Listing Rules”) and the Inside Information Provisions (as defined in the Listing Rules) under Part XIVA of t he Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong). LETTER FROM THE CHAIRMAN OF GALAXY ENTERTAINMENT GROUP LIMITED (“GEG” or the “Company”) Today I am pleased to report the third quarter 2025 results for the Group. In Q3 2025 Group Net Revenue increased 14% year-on-year to HK$12.2 billion and Adjusted EBITDA increased 14% year- on-year to HK$3.3 billion. I wish to bring to your attention two events that occurred during the third quarter that impacted Gross Gaming Revenue (‘GGR’) and in turn Adjusted EBITDA for the quarter. The first event involves seasonality, where September is typically a slower month as many visitors defer their planned trips to October to coincide with the Golden Week holidays. The second event was Typhoon Ragasa. This typhoon resulted in the Government mandating that all casinos officially closed for 33 hours. 33 hours may not seem an extended period of time, however potential visitors canceled their visits in advance over concerns of the potential impact of Typhoon Ragasa and after the typhoon it takes a few days before people commence to plan their next trip. Our balance sheet remains healthy and liquid. Total cash and liquid investments were HK$36.8 billion and the net position was HK$34.8 billion after debt of HK$2.0 billion. Our solid balance sheet and cash flow from operations allows us to return capital to shareholders through dividends, fund our development pipeline and pursue our international expansion ambitions. In October 2025, we paid the previously announced interim dividend of HK $0.70 per share. This dividend demonstrates our continued confidence in the longer-term outlook of Macau and for the Company.
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2 GEG continues to support the Macau Government's goal to develop Macau into a ‘City of Performing Arts’ by hosting world -class events across various categories and acclaimed concert singers. We believe this will help to boost Macau’s tourism, retail, as well as hotel spending, contributing to Macau’s evolvement into the World Centre of Tourism and Leisure. In Q3, we hosted multiple mega entertainment events including the ‘King of Asian Pop’ Eason Chan’s Concert and America’s comedy star Jimmy O. Yang’s perfo rmance in Macau. For the first nine months of 2025, we have held approximately 260 entertainment, sports, arts and culture, and MICE events, which contributed to a 41% year-on-year increase in the foot traffic at Galaxy Macau™ and contributed significantly to our business. Post Q3 in October, two popular singers, Luhan and Jackson Wang performed at Galaxy Arena, and the world-renowned Chinese pianist, Yundi Li made his debut with Galaxy Music Gala at Galaxy International Convention Center ( ‘GICC’). Additionally, we will support the National Games by hosting its Table Tennis Competition in Galaxy Arena. Further, we have signed a four-year strategic partnership with the Ultimate Fighting Championship (‘UFC’) to bring UFC Fight Nights to Galaxy Arena, as well as renewed a three- year strategic partnership with TMElive (Tencent Music) to co - host multifaceted popular music events. We have also renewed a three -year cooperation agreement with Damai Entertainment under Alibaba Group and Macau Pass for events ticketing. We remain optimistic about mega events tourism in the future. Over the past 18 months we have been investing heavily into technology. This has included the implementation of smart tables, consolidating data information and deepening our data analytics capability. The purpose of these programs is to ensure that we mor e fully understand our customers and that we are in a position to provide the best service and experience to our valuable guests . We want to make informed customer decisions based upon ‘hard data’ and not a ‘gut impression’. We have already seen economic benefits from these investments and we will continue to drive each and every segment of the business. GEG announced that Waldo Casino ceased operations on 31 October 2025. In alignment with Macau Government policies, GEG is committed to safeguarding local employment. In addition to being able to retain the same position, employees have also been offered the opportunity to explore a range of career paths if they wish to do so and they received support for their transition into a new working environment. We previously announced the exclusive previews of the ultra -luxury Capella at Galaxy Macau and Horizon Plus. Both facilities have been extremely well received by our guests and currently the vast majority of both facilities are opened. However, we are still fitting out some additional enhancement facilities including a signature restaurant. We anticipate that the facilities will be fully opened by early next year. On the development front, we continue to progress with the fitting out of Phase 4, which include s multiple high-end hotel brands that are new to Macau, together with an approximately 5,000- seat theater, extensive F&B, retail, non-gaming amenities, landscaping, a water resort deck and a casino. Phase 4 is targeted to complete in 2027.
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3 Previously GEG has been actively exploring opportunities to develop an integrated resort in Thailand. During Q3 there was a change in Government within Thailand, and it appears that the new Government’s immediate priorities lie elsewhere. We will continue to monitor the situation. Recently, we announced through the press releases that Mr. Ted Chan will step down from his position of Chief Financial Officer (‘CFO’) and depart GEG on 22 November 2025, and Mr. Thomas Arasi has commenced as CFO effective 27 October 2025. I would like to extend my heartfelt appreciation to Ted for his valuable contribution to GEG, and welcome Tom in his role as CFO of the Company. Finally, I would like to thank all our team members who deliver ‘World Class, Asian Heart’ service each and every day and contribute to the success of the Group. Francis Lui Yiu Tung BBS Chairman
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4 Q3 2025 RESULTS The Board of Directors (the “Board”) of GEG is pleased to announce certain selected unaudited key performance indicators of GEG and its subsidiaries (collectively referred to as the “Group”) for the third quarter ended 30 September 2025 as follows: Q3 2025 RESULTS HIGHLIGHTS GEG: Well Positioned for Future Growth • Q3 Group Net Revenue of HK$12.2 billion, up 14% year-on-year and up 1% quarter-on-quarter • Q3 Group Adjusted EBITDA of HK$3.3 billion, up 14% year-on-year and down 6% quarter-on-quarter • Played lucky in Q3 which increased Adjusted EBITDA by approximately HK$14 million, normalized Q3 Adjusted EBITDA of HK$3.3 billion, up 7% year-on-year and up 5% quarter-on-quarter • Latest twelve months Adjusted EBITDA of HK$13.4 billion, up 14% year-on-year and up 3% quarter- on-quarter Galaxy Macau™: Primary Driver to Group Earnings • Q3 Net Revenue of HK$10.1 billion, up 20% year-on-year and up 1% quarter-on-quarter • Q3 Adjusted EBITDA of HK$3.1 billion, up 20% year-on-year and down 8% quarter-on-quarter • Played lucky in Q3 which increased Adjusted EBITDA by approximately HK$18 million, normalized Q3 Adjusted EBITDA of HK$3.1 billion, up 11% year-on-year and up 5% quarter-on-quarter • Hotel occupancy for Q3 across the nine hotels was 98% StarWorld Macau: Continuing with Major Property Upgrades • Q3 Net Revenue of HK$1.3 billion, down 6% year-on-year and up 8% quarter-on-quarter • Q3 Adjusted EBITDA of HK$369 million, down 7% year-on-year and up 22% quarter-on-quarter • Played unlucky in Q3 which decreased Adjusted EBITDA by approximately HK$4 million, normalized Q3 Adjusted EBITDA of HK$373 million, down 2% year-on-year and up 22% quarter-on-quarter • Hotel occupancy for Q3 was 99% Broadway Macau™, City Clubs and Construction Materials Division (“CMD”) • Broadway Macau™: Q3 Adjusted EBITDA was HK$1 million, versus HK$11 million in Q3 2024 and HK$4 million in Q2 2025 • City Clubs: Q3 Adjusted EBITDA was HK $(6) million, versus HK$6 million in Q3 2024 and HK $2 million in Q2 2025, Waldo Casino ceased operations on 31 October 2025 • CMD: Q3 Adjusted EBITDA was HK$206 million, down 4% year-on-year and down 13% quarter-on- quarter Balance Sheet: Remained Healthy and Liquid • As at 30 September 2025, cash and liquid investments were HK $36.8 billion and the net position was HK$34.8 billion after debt of HK$2.0 billion • Paid an interim dividend of HK$0.70 per share on 31 October 2025 Development Update: Continue to ramp up Capella at Galaxy Macau, GICC, Galaxy Arena, Raffles at Galaxy Macau and Andaz Macau; Progressing with Phase 4 • Cotai Phase 3 – Continue to ramp up Capella at Galaxy Macau, GICC, Galaxy Arena, Raffles at Galaxy Macau and Andaz Macau • Cotai Phase 4 – Our efforts are firmly focused on the development of Phase 4 which has a strong focus on non-gaming, primarily targeting entertainment, family facilities and also includes a casino • International – Continuously exploring opportunities in overseas markets
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5 Market Overview Based on DICJ reporting, Macau’s GGR for Q3 2025 was HK$60.7 billion, up 13% year-on-year and up 2% quarter-on-quarter. In Q3 2025, visitor arrivals to Macau were 10.5 million, up 14% year-on-year and up 12% quarter- on-quarter, representing 105% of 2019. Visitor arrivals from the Mainland were 7.8 million, up 17% year-on-year and up 19% quarter-on-quarter. In the first nine months of 2025, visitor arrivals to Macau were 29.7 million, up 14% year -on-year. Visitors from Mainland China were 21.6 million, up 18% year-on-year and those travelling under the Individual Visit Scheme surged by 24% year -on-year to 11.5 million, while another 1.4 million travelled under the “one trip per week measure” and 444,326 under the “multiple -entry measure”. Visitors from the nine Pearl River Delta cities in the Greater Bay Area rose by 24% year -on-year to 10.9 million, driven by an increase of 57% year-on-year in the number of visitors from Zhuhai. International visitors wer e 1.9 million, up 12% year-on-year for the first nine months of 2025. Visitors from the Republic of Korea grew 12% year-on-year to 382,494 and from Japan by 25% year- on-year to 116,224. GEG has continued to work with Macao Government Tourism Office to actively promote Macau as a tourism destination. We have marketing offices in Tokyo, Seoul, Bangkok and Singapore. Group Financial Results In Q3 2025, the Group posted Net Revenue of HK $12.2 billion, up 14% year -on-year and up 1% quarter-on-quarter. Adjusted EBITDA was HK$ 3.3 billion, up 14% year -on-year and down 6% quarter-on-quarter. Galaxy Macau™’s Adjusted EBITDA was HK$3.1 billion, up 20% year-on-year and down 8% quarter-on-quarter. StarWorld Macau’s Adjusted EBITDA was HK$369 million, down 7% ye ar-on-year and up 22% quarter -on-quarter. Broadway Macau™’s Adjusted EBITDA was HK$1 million, versus HK$11 million in Q3 2024 and HK$4 million in Q2 2025. Latest twelve months Adjusted EBITDA for the Group was HK$13.4 billion, up 14% year -on-year and up 3% quarter-on-quarter. During Q3 2025, GEG played lucky in its gaming operations which increased Adjusted EBITDA by approximately HK$14 million. Normalized Adjusted EBITDA was HK$3.3 billion, up 7% year-on- year and up 5% quarter-on-quarter. Summary Table of GEG Q3 2025 Adjusted EBITDA and Adjustments: in HK$'m Q3 2024 Q2 2025 Q3 2025 YoY QoQ Adjusted EBITDA 2,940 3,569 3,341 14% (6)% Luck1 (165) 407 14 - - Normalized Adjusted EBITDA 3,105 3,162 3,327 7% 5% 1 Reflects luck adjustments associated with our rolling chip program.
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6 The Group’s total GGR in Q3 2025 was HK$12.2 billion, up 21% year -on-year and up 2% quarter- on-quarter. Mass GGR was HK$9.5 billion, up 13% year-on-year and up 7% quarter-on-quarter. VIP GGR was HK$2.0 billion, up 86% year-on-year and down 15% quarter-on-quarter. Electronic GGR was HK$738 million, up 11% year-on-year and down 6% quarter-on-quarter. CC, $6 CC, $2 CC, $(6) BW, $11 BW, $4 BW, $1 $(244) $(303) $(297) $214 $238 $206 $396 $303 $369 $2,557 $3,325 $3,068 $2,940 $3,569 $3,341 2024 Q3 2025 Q2 2025 Q3 GEG Adjusted EBITDA (HK$’m) Galaxy Macau™ StarWorld Macau Broadway Macau™ City Clubs Construction Materials Corporate Costs
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7 Group Key Financial Data (HK$'m) Q3 2024 Q2 2025 Q3 2025 Revenues: Net Gaming 8,197 9,656 9,707 Non-gaming 1,666 1,608 1,729 Construction Materials 805 780 727 Total Net Revenue 10,668 12,044 12,163 Adjusted EBITDA 2,940 3,569 3,341 Gaming Statistics2 (HK$'m) Q3 2024 Q2 2025 Q3 2025 Rolling Chip Volume3 44,459 55,764 65,003 Win Rate % 2.5% 4.3% 3.1% Win 1,100 2,413 2,044 Mass Table Drop4 31,726 35,076 35,414 Win Rate % 26.4% 25.1% 26.7% Win 8,386 8,811 9,460 Electronic Gaming Volume 26,503 28,609 27,424 Win Rate % 2.5% 2.7% 2.7% Win 666 785 738 Total GGR Win5 10,152 12,009 12,242 Balance Sheet and Dividend The Group’s balance sheet remains healthy and liquid. As of 30 September 2025, cash and liquid investments were HK$36.8 billion and the net position was HK$34.8 billion after debt of HK$2.0 billion. Our strong balance sheet combined with substantial cash flow from operations allows us to return capital to shareholders via dividends and to fund our development pipeline. The Group paid the previously announced interim dividend of HK$0.70 per share on 31 October 2025. 2 Gaming statistics are presented before deducting commission and incentives. 3 Represents sum of promoter and inhouse premium direct. 4 Mass table drop includes the amount of table drop plus cash chips purchased at the cage. 5 Total GGR win includes gaming win from City Clubs.
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8 Galaxy Macau™ Galaxy Macau™ is the primary contributor to the Group’s revenue and earnings. Net Revenue in Q3 2025 was HK$10.1 billion, up 20% year-on-year and up 1% quarter-on-quarter. Adjusted EBITDA was HK$3.1 billion, up 20% year-on-year and down 8% quarter-on-quarter. Galaxy Macau™ played lucky in its gaming operations which increased its Adjusted EBITDA by approximately HK$18 million in Q3 2025. Normalized Adjusted EBITDA was HK $3.1 billion, up 11% year-on-year and up 5% quarter-on-quarter. Hotel occupancy for Q3 2025 across the 9 hotels was 98%. Galaxy Macau™ Key Financial Data (HK$'m) Q3 2024 Q2 2025 Q3 2025 Revenues: Net Gaming 6,934 8,567 8,546 Hotel / F&B / Others 1,125 1,105 1,206 Mall 347 328 340 Total Net Revenue 8,406 10,000 10,092 Adjusted EBITDA 2,557 3,325 3,068 Adjusted EBITDA Margin 30% 33% 30% Gaming Statistics6 (HK$'m) Q3 2024 Q2 2025 Q3 2025 Rolling Chip Volume7 42,887 54,859 64,032 Win Rate % 2.4% 4.4% 3.2% Win 1,027 2,391 2,020 Mass Table Drop8 24,591 27,416 27,983 Win Rate % 29.0% 28.0% 29.3% Win 7,123 7,669 8,205 Electronic Gaming Volume 16,743 18,435 17,430 Win Rate % 2.9% 3.3% 3.3% Win 490 611 580 Total GGR Win 8,640 10,671 10,805 6 Gaming statistics are presented before deducting commission and incentives. 7 Represents sum of promoter and inhouse premium direct. 8 Mass table drop includes the amount of table drop plus cash chips purchased at the cage.
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9 StarWorld Macau StarWorld Macau’s Net Revenue in Q3 2025 was HK$1.3 billion, down 6% year -on-year, up 8% quarter-on-quarter. Adjusted EBITDA was HK$369 million, down 7% year-on-year, up 22% quarter- on-quarter. StarWorld Macau played unlucky in its gaming operations which decreased its Adjusted EBITDA by approximately HK$4 million in Q3 2025. Normalized Adjusted EBITDA was HK$373 million, down 2% year-on-year and up 22% quarter-on-quarter. Hotel occupancy for Q3 2025 was 99%. StarWorld Macau Key Financial Data (HK$'m) Q3 2024 Q2 2025 Q3 2025 Revenues: Net Gaming 1,205 1,047 1,142 Hotel / F&B / Others 126 119 115 Mall 6 5 6 Total Net Revenue 1,337 1,171 1,263 Adjusted EBITDA 396 303 369 Adjusted EBITDA Margin 30% 26% 29% Gaming Statistics9 (HK$'m) Q3 2024 Q2 2025 Q3 2025 Rolling Chip Volume10 1,572 905 971 Win Rate % 4.7% 2.4% 2.4% Win 73 22 24 Mass Table Drop11 6,884 7,501 7,336 Win Rate % 17.8% 14.8% 16.9% Win 1,226 1,112 1,241 Electronic Gaming Volume 8,511 9,284 9,636 Win Rate % 1.8% 1.7% 1.6% Win 155 162 153 Total GGR Win 1,454 1,296 1,418 9 Gaming statistics are presented before deducting commission and incentives. 10 Represents sum of promoter and inhouse premium direct. 11 Mass table drop includes the amount of table drop plus cash chips purchased at the cage.
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10 Broadway Macau™ Broadway Macau™ is a unique family friendly, street entertainment and food resort supported by Macau SMEs. In Q3 2025, Broadway Macau™’s Net Revenue was HK$62 million, flat year-on-year and up 22% quarter-on-quarter. Adjusted EBITDA was HK$1 million, versus HK$11 million in Q3 2024 and HK$4 million in Q2 2025. City Clubs In Q3 2025, City Clubs Adjusted EBITDA was HK$(6) million, versus HK$6 million in Q3 2024 and HK$2 million in Q2 2025. GEG announced that Waldo Casino ceased operations on 31 October 2025. In alignment with Macau Government policies, GEG is committed to safeguarding local employment. In addition to being able to retain the same position, employees have also been offered the opportunity to explore a range of career paths if they wish to do so and they received support for their transition into a new working environment. Construction Materials Division (“CMD”) CMD contributed Adjusted EBITDA of HK$206 million in Q3 2025, down 4% year -on-year and down 13% quarter-on-quarter. Q3 2025 was seasonally softer due to rainstorms and typhoons which adversely impact construction works. Development Update Galaxy Macau™ and StarWorld Macau We continue to make ongoing progressive enhancements to our resorts to ensure that they remain competitive and appealing to our guests including adding new F&B and retail offerings at Galaxy Macau™. We also continue to ramp up GICC and Galaxy Arena by bringing a range of mega shows, concerts and events to Galaxy Macau ™. In November we will support the National Games by hosting its Table Tennis Competition in Galaxy Arena. In addition, we have signed a four -year strategic partnership with the UFC to bring UFC Fight Nights to Galaxy Arena, as well as renewed a three- year strategic partnership with TMElive (Tencent Music) to co -host multifaceted popular music events. We have also renewed a three-year cooperation agreement with Damai Entertainment under Alibaba Group and Macau Pass for events ticketing. At StarWorld Macau we have commenced implementing a range of major upgrades, that includes the main gaming floor, the lobby arrival experience and increasing the F&B options. We have completed the upgrade of Level 3 and StarWorld Macau now hosts one of the largest scale LTG terminals in Macau. The purpose of these upgrades is to transition StarWorld from a VIP -centric property to a more competitive M ass market property. We are working towards the completion of this program in 2026.
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11 Cotai – The Next Chapter We previously announced the exclusive previews of the ultra -luxury Capella at Galaxy Macau and Horizon Plus. Both facilities have been extremely well received by our guests and have set a new level of luxury opulence and service levels in Macau. Capella offers 95 ultra-luxury signature suites and Penthouses. Currently the vast majority of both facilities are opened. However, we are still fitting out some additional enhancement facilities including a signature restaurant. We anticipate that the facilities will be fully opened by early next year. On the development front we are progressing well with the construction of Phase 4. Construction of the super structure and the external facade has been completed and we are progressing to the next stage of development which is fitting out the building. We have entered into a new contract for the internal fitting out works of the approximately 600,000 sqm Phase 4 development which includes multiple high-end hotel brands that are new to Macau, together with an approximately 5,000- seat theater, extensive F&B, retail, non-gaming amenities, landscaping, a water resort deck and a casino. Phase 4 is targeted to complete in 2027. We remain highly confident about the future of Macau where Phases 3 & 4 will support Macau’s vision of becoming a World Centre of Tourism and Leisure. Previously GEG has been actively exploring opportunities to develop an i ntegrated resort in Thailand. During Q3 there was a change of Government within Thailand, and it appears that the new Government’s immediate priorities lie elsewhere. We will continue to monitor the situation. Selected Major Awards in 2025 AWARD PRESENTER GEG Casino Operator of the Year Global Gaming Awards Asia-Pacific 2025 11th Outstanding Corporate Social Responsibility Award Ceremony - Outstanding Corporate Social Responsibility Award Mirror Post of Hong Kong 2025 IAG Academy IR Awards - Best Overall CSR Program - Community at Heart, Empathy in Action Inside Asian Gaming 2025 Macao International Environmental Co-operation Forum & Exhibition - Green Booth Award Macau Fair & Trade Association and Macao Low Carbon Development Association Best Cohesive Partnership Award Trip.com GALAXY MACAU™ Integrated Resort of the Year Global Gaming Awards Asia-Pacific 2025 2025 IAG Academy IR Awards - Best Integrated Resort - Galaxy Macau™ - Best Overall F&B Offering by an IR - Galaxy Macau™ - Best Hotel in an IR - Capella at Galaxy Macau Inside Asian Gaming
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12 AWARD PRESENTER MICHELIN One-Star Restaurant - 8½ Otto e Mezzo BOMBANA - Lai Heen - Sushi Kissho by Miyakawa MICHELIN Selected Restaurants - Saffron - Terrazza Italian Restaurant - The Ritz-Carlton Café The MICHELIN Guide Hong Kong Macau 2025 Five-Star Hotel - Banyan Tree Macau - Galaxy Hotel™ - Hotel Okura Macau - Raffles at Galaxy Macau - The Ritz-Carlton, Macau Five-Star Restaurant - 8½ Otto e Mezzo BOMBANA - Yamazato Five-Star Spa - Banyan Tree Spa Macau - The Ritz-Carlton Spa, Macau 2025 Forbes Travel Guide 2025 Black Pearl Restaurant Guide One Diamond - 8½ Otto e Mezzo BOMBANA Mei Tuan SCMP 100 Top Tables 2025 - 8½ Otto e Mezzo BOMBANA - Lai Heen - Sushi Kissho by Miyakawa - Teppanyaki Shou - Yamazato South China Morning Post Macau Green Hotel Awards - Gold Award - Hotel Okura Macau Environmental Protection Bureau of the Macao SAR Government Macau's Best Resort Spa 2025 - Banyan Tree Spa Macau World Spa Awards 2025 World's Travel & Hotel Awards - Best Hotel Spa - Banyan Tree Spa Macau - Best Luxury Hotel - Raffles at Galaxy Macau - Most Anticipated New Hotel Opening - Capella at Galaxy Macau ULIFE 2025 Readers' Choice Awards - JW Marriott Hotel Macau - The Ritz-Carlton, Macau Condé Nast Traveler Wellness & Spa Awards 2025 - Best Spiritual Treatment of the year - Banyan Tree Spa Macau - Best Hotel Spa of the year - The Ritz-Carlton, Macau SpaChina
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13 AWARD PRESENTER STARWORLD MACAU MICHELIN Two-Star Restaurant - Feng Wei Ju The MICHELIN Guide Hong Kong Macau 2025 2025 Black Pearl Restaurant Guide One Diamond - Feng Wei Ju Mei Tuan SCMP 100 Top Tables 2025 - Feng Wei Ju South China Morning Post BROADWAY MACAU™ Hotel Awards Appreciation Event - Popular Hotel - Broadway Hotel Mei Tuan Macau Green Hotel Awards - Silver Award - Broadway Hotel Environmental Protection Bureau of the Macao SAR Government Overseas Popularity Award - Broadway Hotel Trip.com Traveller Review Awards 2025 Winner - Broadway Hotel Booking.com CONSTRUCTION MATERIALS DIVISION Carbon Reduction Action - Collaborating Partner - Participation Certificate Environmental Campaign Committee BOCHK Corporate Low-Carbon Environmental Leadership Awards 2024 - EcoPartner Bank of China (Hong Kong); Federation of Hong Kong Industries Wastewi$e - Excellent Level Hong Kong Green Organisation Certification Outlook Looking forward, as previously stated we continue to remain laser focused on our customer service standards. Our target is to ensure that each customer interaction is memorable and exceptional. We continue to progressively upgrade our resort facilities to ensure that they remain world- class amenities and highly competitive. We continue to yield all our existing assets including hotels, food and beverage, retail, resort and MICE facilities. Costs are being carefully managed to deliver operating leverage as we continue to grow the top line. In early October, another typhoon impacted Macau. Typhoon Matmo disrupted visitor arrivals to Macau on 5 October which was the fifth day of Golden Week. Overall, we were encouraged that despite the typhoon, Macau recorded a total of 1.14 million visitor arrivals during the eight -day Golden Week, averaging approximately 143,000 visitors per day. This set a new record for National Day Golden Week arrivals and Macau’s major resort hotels’ average occupancy was approximately 100% during the period. This demonstrates the continued strong demand from Mainland tourists for Macau as a preferred travel destination.
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14 GEG continues to lead Macau’s non- gaming diversification with large scale entertainment continuing to drive foot traffic across our resorts. Mega entertainment, sports and MICE events have resulted in a substantial increase in gaming, retail, food and beverage and hotel revenues. We are working hard to continue to build the Galaxy Arena brand as a world- class entertainment arena and to attract even more large scale mega entertainment events into the future. We are pleased to announce that Galaxy Arena will host the T able Tennis Competition of the 15 th National Games in November. Our Group looks forward to coll aborating with all sectors of the community and in particular with the Macau Government to elevate Macau’s sports atmosphere and contribute to its development as a “City of Sports”. In addition, we have signed a four-year strategic partnership with the UFC to bring UFC Fight Nights to Galaxy Arena, as well as renewed a three- year strategic partnership with TMElive (Tencent Music) to co- host multifaceted popular music events. We have also renewed a three -year cooperation agreement with Damai Entertainment un der Alibaba Group and Macau Pass for events ticketing. We remain optimistic about mega events tourism into the future and are confident that they will contribute to the growth in tourist numbers. As previously reported the implementation of smart tables helped us more fully understand our customers and to provide the best service and experience to our valuable guests . We have already seen economic benefits from these investments, and we will continue to drive each and every segment of the business. We previously announced the exclusive previews of the ultra -luxury Capella at Galaxy Macau and Horizon Plus. Both facilities have been extremely well received by our guests and have set a new level of luxury opulence and service levels in Macau. Capella offers 95 ultra-luxury signature suites and Penthouses. Currently the vast majority of both facilities are opened. However, we still fitting out some additional enhancement facilities include a signature r estaurant. We anticipate that the facilities will be fully opened by early next year. On the development front we are progressing well with the construction of Phase 4. Construction of the super structure and the external facade has been completed and we are progressing to the next stage of development which is fitting out the building. We have entered into a new contract for the internal fitting out works of the approximately 600,000 sqm Phase 4 development which includes multiple high-end hotel brands that are new to Macau, together with an approximately 5,000 -seat theater, extensive F&B, retail, non-gaming amenities, landscaping, a water resort deck and a casino. Phase 4 is targeted to complete in 2027. We continue to monitor the state of the world economy and ongoing discussions on tariffs. Tariffs whilst gaining significant media coverage have to date not impacted gaming revenue as much as some analysts had previously predicted. Macau still rates in the top three destinations of choice by Chinese travelers. International customer development continues to be a priority and we are leveraging our marketing offices in Tokyo, Seoul and Bangkok, and our recently opened office in Singapore. In the first nine months of 2025 international visitor arrivals to Macau grew 12% year-on-year to 1.9 million. The Macau market continues to remain competitive. GEG prefers to compete on quality product and service, and not purely on price. The post -Golden Week gaming momentum has continued and we anticipate a solid Q4. We remain positive for the outlook of Macau despite the competition and remain confident in the medium to longer term prospect for Macau. We will continue to leverage our resorts and staff to grow the business, and to support Macau’s development into the World Centre of Tourism and Leisure.
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15 CAUTION STATEMENT The Board wishes to remind shareholders and potential investors that the above financial data primarily relates only to a part of operations of the Group and is based on the Group’s internal records and management accounts. The above financial data has not been reviewed or audited by independent auditor and is not a forecast of the performance of the gaming and entertainment division or of the Group as a whole. Shareholders and potential investors are cautioned not to unduly rely on such data and are advised to exercise caution when dealing in the shares of GEG. By Order of the Board Galaxy Entertainment Group Limited Chong Wai Sang Company Secretary Hong Kong, 6 November 2025 As at the date of this announcement, the executive Directors of GEG are Mr. Francis Lui Yiu Tung (Chairman), Mr. Joseph Chee Ying Keung, Mrs. Paddy Tang Lui Wai Yu and Ms. Eileen Lui Wai Ling; the non-executive Director of GEG is Dr. Charles Cheung Wai Bun; and the independent non- executive Directors of GEG are Mr. James Ross Ancell, Dr. William Yip Shue Lam, Professor Patrick Wong Lung Tak and Mr. Michael Victor Mecca. Website: www.galaxyentertainment.com