Earnings release
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1 LOTTOMATICA GROUP S.P.A. CONTINUED DOUBLE DIGIT GROWTH WITH STRONG ONLINE MOMENTUM IN Q2: ADJ. EBITDA 1 REACHING €230M (+1 4% YOY, +17% AT NORMALISED PO 2), WITH ONLINE EBITDA GROWING +24% YOY (+25% AT NORMALISED PO 2) AND ONLINE MARGIN AT 58%. MORE THAN 10% OF OUR MARKET CAPITALISATION RETURNED TO OUR SHAREHOLDERS SINCE JUNE 2025. ADJUSTED EBITDA FY 2026 CONFIRMED EXPECTED AT THE TOP END OF THE GUIDANCE RANGE Rome (Italy), 28 July 2026 - The Board of Directors of Lottomatica Group S.p.A., which met on 27 July 2026, approved the Condensed Consolidated Interim Financial Statements as of and for the six months ended 30 June 2026. H1 2026 consolidated results summary ● Bets of Euro 24 billion, +9% compared to H1 2025 o Online bets growth YoY of +12% ● GGR3 of Euro 2,413 million, +2% compared to H1 2025 o Total Online market share: at 31.6% in Q2 (+1.1 p.p. versus Q2 2025) o iSports market share: at 31.8% in Q2 (+0.9 p.p. versus Q2 2025) o iGaming market share: at 31.6% in Q2 (+1.1 p.p. versus Q2 2025) ● Revenues of Euro 1,181 million4, +5% compared to H1 2025, +9% at normalised payout2; Euro 578 million in Q2 2026, +6% compared to Q2 2025 o Online of Euro 525 million4, +13% compared to H1 2025, +17% at normalised payout2; Euro 260 million in Q2 2026, +17% compared to Q2 2025 o Sports Franchise of Euro 275 million, -1% compared to H1 202 5, +9% at normali sed payout2; Euro 133 million in Q2 2026, +3% compared to Q2 2025 o Gaming Franchise of Euro 380 million4, -2% compared to H1 2025; Euro 185 million in Q2 2026, -3% compared to Q2 2025 ● Adjusted EBITDA of Euro 465 million, +10% compared to H1 2025, Euro 481 million and +20% at normalised payout2; Euro 230 million in Q2 2026, +14% compared to Q2 2025 ● Operating cash flow5 of Euro 385 million ● Adjusted Net Profit6 of Euro 196 million ● Net financial debt at Euro 2,110 million equivalent to 2.3x on LTM run rate Adjusted EBITDA7 ● PWO Total Sports market shares at 9.2%, exceeding pre migration level 1 Adjusted EBITDA is calculated as net profit for the period adjusted for: (i) income tax expense; (ii) finance income and expenses; (iii) share of profit/(loss) of equity accounted investments; (iv) depreciation, amortization and impairments; (v) Adjusted EBITDA (as defined herein) of equity accounted investments in which the Group holds an interest of more than 50% or financial instruments that, if exercised, enable the Group to obtain control (excluding companies that have not yet commenced operations), and/or of businesses disposed of or in the process of disposal; (vi) costs related to M&A, advisory and international activities; (vii) integration costs (including expenses on corporate restructuring, redundancy and higher costs incurred in relation to renegotiated operating contracts); (viii) other income and expenses that, in view of their nature, are not reasonably expected to recur in future periods . This applies to the entire document. 2 Calculated assuming a normalised sports betting payout of 80.5% for retail and 85.5% for online. 3 Market shares are based on GGR. GGR (or gross gaming revenues) refers to the difference between bet and winnings. This applies to the entire document. 4 Includes the revenues of the Cristaltec group in Gaming Franchise and the revenues of Sportbet S.r.l. in Online, consistent with the approach adopted by management to monitor the results of the operating segments . 5 Operating cash flow is calculated as Adjusted EBITDA net of recurring capex and concession capex. 6 Adjusted Net Profit is calculated as net profit for the period adjusted for: (i ) amortization of higher value of assets resulting from business combinations following the purchase price allocation process and other non-recurring amortization and depreciation; (ii) other non-recurring costs and income excluded from Adjusted EBITDA, (iii) financial income and expenses that, due to their nature, are not reasonably expected to recur in future periods, (iv) other non -monetary items including in financial expenses and (v) tax effects on such adjustments. 7 LTM run rate Adjusted EBITDA is calculated as Adjusted EBITDA for the last twelve months ended 30 June 2026, proforma for bolt-ons and PWO run rate synergies.
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Lottomatica Group S.p.A. H1 2026 Press release 2 ● Guidance2 for fiscal year 2026 confirmed: Adjusted EBITDA expected at the top end of the range. Guglielmo Angelozzi, Chairman and Chief Executive Officer of Lottomatica Group, commented: “The second quarter of 2026 continues to show our “consistency in growth” on all key financial and business metrics: Adj. EBITDA growth in every quarter in the last 10 years (except Covid restrictions), continuous and substantial margins increase on the back of a consistently growing online market and market share. Thanks to this we have consistently delivered superior returns to our shareholders and distributed more than 10% of our market capitalisation since June 2025 (including buybacks). On the back of this solid quarter, we also reiterate our view to close the FY 2026 Adj. EBITDA at the top end of the guidance”. *** Key consolidated results for H1 2026 Bets by segment (Euro million, %) H1 2026 H1 2025 YoY % Online 16,181 14,387 +12% Sports Franchise 2,175 1,979 +10% Gaming Franchise 5,326 5,430 (2%) Total Bets 23,683 21,796 +9% In H1 2026, Lottomatica collected bets for Euro 23.7 billion, +9% compared to H1 2025. The Online segment continued to grow faster, with bets up +12% compared to H1 2025. Revenues by segment (Euro thousands, %) H1 2026 H1 2025 YoY % YoY @ PO normalised2 (%) Online4 525,140 463,258 +13% +17% Sports Franchise 275,430 279,257 (1%) +9% Gaming Franchise4 380,005 386,355 (2%) (2%) Revenues4 1,180,575 1,128,870 +5% +9%
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Lottomatica Group S.p.A. H1 2026 Press release 3 Revenues amounted to Euro 1,180.6 million4 in H1 2026, compared to Euro 1,128.9 million in the H1 2025, with an increase of +5%. Revenues in H1 2026 at normalised2 payout were +9% compared to H1 2025. The Online segment revenues amounted to Euro 525.1 million4 in H1 2026, +13% compared to the same period of 2025, with a strong performance driven by the overall growth of the Online market, as well as an increase in market share across all product segments and brands, partially offset by a sports betting payout in the period that was overall less favourable than that of the same period of 2025. The Sports Franchise segment reported Euro 275.4 million in revenues in H1 2026, -1% compared to the same period of previous year mainly due to sports betting payout, which were overall less favourable than those recorded in the same period of 2025. The Gaming Franchise segment revenues reached Euro 380.0 million4 in H1 2026, -2% compared to the same period of previous year. Adjusted EBITDA and margin by segment (Euro thousands, % ) H1 2026 H1 2025 YoY % YoY @ PO normalised2 (%) Online 303,908 57.9% 250,670 54.1% +21% +27% Sports Franchise 70,099 25.5% 81,257 29.1% (14%) +18% Gaming Franchise 91,267 24.0% 90,488 23.4% +1% +1% Adjusted EBITDA 465,274 39.4% 422,415 37.4% +10% +20% Adjusted EBITDA reached Euro 465.3 million in H1 2026, +10% compared to H1 2025. Adjusted EBITDA margin is equal to 39.4% on revenues, compared to 37.4% in H1 2025. At normalised2 payout, Adjusted EBITDA was equal to Euro 481.3 million in H1 2026, +20% compared to H1 2025. Operating cash flow (Euro thousands) H1 2026 H1 2025 Adjusted EBITDA 465,274 422,415 Recurring capex (48,275) (46,702) Concession capex (31,528) (31,450) Operating cash flow 385,471 344,263 Operating cash flow in H1 2026 was Euro 385.5 million, compared to Euro 344.3 million for the H1 2025, mainly due to higher Adjusted EBITDA.
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Lottomatica Group S.p.A. H1 2026 Press release 4 Net financial debt (Euro million) 30 June 2026 31 December 2025 Gross Financial Debt 2,476.9 2,249.1 EUR 400m FRNs due 2031 - 400.0 EUR 500m SSNs due 2030 500.0 500.0 EUR 1,100m SSNs due 2031 1,100.0 1,100.0 EUR 765m SSNs due 2032 765.0 - Buyback liabilities 39.3 173.4 IFRS 16 (leases) 72.6 75.7 Cash (366.5) (143.9) Net Financial Debt 2,110.4 2,105.2 LTM run rate Adjusted EBITDA 7 913.5 883.8 Net leverage 2.3x 2.4x Net financial debt amounted to Euro 2,110.4 million as of 30 June 2026, equivalent to a net leverage of 2.3x on LTM run rate Adjusted EBITDA7. *** Management will hold a conference call at 10:00 CE ST on 28 July 2026 to comment the consolidated results to the market. The event can be followed: • via phone by pre-registering at the following link: Registration | H1 2026 Results • via Webcast
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Lottomatica Group S.p.A. H1 2026 Press release 5 The manager in charge of preparing the company's accounting documents, Laurence Lewis Van Lancker, declares, pursuant to par. 2 of Art. 154-bis of the Consolidated Finance Act, that the accounting information contained in this press release corresponds to the documented results, books and accounting records. Consolidated statement of comprehensive income For the six months ended 30 June (in thousands of Euro ) 2026 2025 Revenues 1,163,567 1,124,781 Other income 5,555 6,032 Total revenues and income 1,169,122 1,130,813 Cost of services (658,827) (665,458) Personnel expenses (91,479) (78,776) Other operating costs (21,353) (18,558) Depreciation, amortization and impairments (142,142) (129,237) Impairment of receivables and financial assets (285) (9,621) Other (accruals)/releases 629 224 Finance income 1,473 2,109 Finance expenses (75,667) (123,423) Share of profit /(loss) of equity accounted investments (485) 150 Profit before tax 180,986 108,223 Income tax expense (65,001) (40,026) Net profit for the period 115,985 68,197 Net profit for the period attributable to non -controlling interests 5,154 3,365 Net profit for the period attributable to the owners of the parent 110,831 64,832 For the six months ended 30 June (Euro thousands) 2026 2025 Net profit for the period 115,985 68,197 Actuarial gains and losses on employee benefit liabilities (1,853) 625 Fiscal effect on actuarial gains and losses on employee benefit liabilities 445 (150) Other items that will not be classified to profit or loss (1,408) 475 Gains/(losses) on hedging derivatives 4,537 4,487 Fiscal effect on gains/(losses) on hedging derivatives (1,089) (1,079) Gains/(losses) on conversion of financial statements of the foreign companies (21) (10) Other items that will be classified to profit or loss 3,427 3,398 Total comprehensive profit 118,004 72,070 Total comprehensive profit attributable to non -controlling interests 5,154 3,365 Total comprehensive profit attributable to the owners of the parent 112,850 68,705
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Lottomatica Group S.p.A. H1 2026 Press release 6 Consolidated statement of financial position As of 30 June As of 31 December (in thousands of Euro ) 2026 2025 Intangible assets 701,582 745,448 Goodwill 2,090,934 2,080,855 Property, plant and equipment 150,272 160,397 Right of use 66,928 69,181 Investment property 395 408 Non-current financial assets 1,851 1,202 Equity accounted investments 24,011 14,825 Non-current trade receivables 2,548 3,171 Deferred tax assets 366 781 Other non-current assets 11,561 17,986 Total non-current assets 3,050,448 3,094,254 Inventories 1,363 1,630 Current trade receivables 62,052 74,070 Current financial assets 30,283 31,570 Tax receivables 171 268 Other current assets 120,060 157,179 Cash and cash equivalents 366,460 143,898 Total current assets 580,389 408,615 Total assets 3,630,837 3,502,869 Share capital 10,000 10,000 Other reserves 601 109,225 Retained earnings 215,305 205,845 Total shareholders' equity attributable to the owners of the parent 225,906 325,070 Equity attributable to non -controlling interests 56,628 52,418 Total shareholders' equity 282,534 377,488 Employee benefit liabilities 29,025 27,753 Non-current financial liabilities 2,424,378 2,069,779 Provisions for risks and charges 39,800 41,135 Deferred tax liabilities 117,135 126,077 Other non-current liabilities 25,046 34,651 Total non-current liabilities 2,635,384 2,299,395 Current financial liabilities 133,100 266,312 Current trade payables 99,000 131,130 Tax payables 29,554 31,095 Other current liabilities 451,265 397,449 Total current liabilities 712,919 825,986 Total equity and liabilities 3,630,837 3,502,869
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Lottomatica Group S.p.A. H1 2026 Press release 7 Consolidated statement of cash flows (in thousands of Euro) For the six months ended 30 June INDIRECT METHOD 2026 2025 Profit before tax 180,986 108,223 Reconciliation of profit before tax with cash flow from operating activities: Depreciation, Amortization and Impairment 142,142 129,237 Accruals and write -downs for impairment losses (344) 9,397 Other accruals (656) 1,661 Share of (profit )/loss of equity accounted investments 485 (150) Net financial expenses 72,231 119,109 Leasing financial expenses 1,963 2,205 Other adjustments for non -monetary items 3,467 2,139 Cash flow from operating activities before changes in net working capital 400,274 371,821 Changes in net working capital Decrease/(increase) in inventories 229 (116) Decrease/(increase) in trade receivables 12,602 9,572 Increase/(Decrease) in trade payables (22,296) (8,720) Other changes in net working capital 100,547 87,106 Cash flow from changes in net working capital 91,082 87,842 Income taxes paid (74,831) (45,514) Accruals to employee benefits and provisions for risks and charges (802) (1,217) Cash flow from operating activities (a) 415,723 412,932 Cash flow from investing activities Investments: (103,754) (97,026) - intangible assets (81,264) (60,233) - property, plant and equipment (22,490) (36,793) Investments in equity accounted investments (10,293) (4,228) Net investment in financial assets (30) - Deferred purchase consideration for acquisition of subsidiaries/business units (11,262) (29,152) Acquisitions net of cash and cash equivalents (787) (13,627) Cash flow from investing activities (b) (126,126) (144,033) Cash flow from financing activities Proceeds from senior secure notes issuance 765,000 1,100,000 Repayment of senior secure notes (400,000) (1,065,000) Make-whole costs - (21,018) Fees of issuance of senior secure notes (8,965) (12,308) Net financial expenses including RCF (56,325) (73,218) Lease payment (15,061) (13,838) Repayment of other bank liabilities (1,249) (1,543) Changes in current and non -current financial assets - 896 Share buyback (248,052) - Transactions with minorities (1,807) 153 Dividends paid (100,576) (75,819) Cash flow from financing activities (c) (67,035) (161,695) Net Cash flow (a+b+c) 222,562 107,204 Cash and cash equivalents at the beginning of the period 143,898 164,156 Cash and cash equivalents at the end of the period 366,460 271,360
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Lottomatica Group S.p.A. H1 2026 Press release 8 Reconciliation of Non-GAAP Measures Adjusted EBITDA (in thousands of Euro ) H1 2026 H1 2025 FY 2025 Net profit for the period 115,985 68,197 179,836 Income tax expense 65,001 40,026 95,940 Net financial expenses 74,194 121,314 190,147 Share of profit/(loss) of equity accounted investments 485 (150) 110 Depreciation, amortization and impairment 142,142 129,237 261,269 Adjusted EBITDA from equity accounted investments and/or of businesses disposed of or in the process of disposal 3,277 1,381 2,948 Cost related to M&A, advisory and international activities 2,605 3,279 8,266 Integration costs - 24,390 40,543 Other non-recurring (income)/expenses (monetary) 55,176 24,242 40,588 Other non-recurring (income)/expense (non -monetary) 6,409 10,499 36,512 Adjusted EBITDA 465,274 422,415 856,159 Adjusted Net Profit (in thousands of Euro) H1 2026 H1 2025 FY 2025 Net profit for the period 115,985 68,197 179,836 Amortization of assets resulting from business combinations and other non - recurring depreciation and amortization 34,569 35,875 70,303 Other non-recurring costs and income excluded from Adjusted EBITDA 64,190 62,410 125,909 Adjustments related to refinancing 5,666 46,690 47,342 Of which: - Make-whole on notes repaid - 21,018 21,018 - Effect of acceleration of the unamortized costs and net charge IRS on notes repaid 5,666 25,672 26,324 Other non-recurring financial expenses 806 1,542 5,682 Other non-monetary items included in financial expenses 7,314 5,640 11,787 Tax effect (IRES + IRAP) (32,067) (41,065) (71,471) Adjusted Net Profit 196,463 179,289 369,388
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Lottomatica Group S.p.A. H1 2026 Press release 9 Further information Mirko Senesi Head of Investor Relations, Capital Markets and M&A m.senesi@lottomatica.com ir@lottomatica.com Disclaimer This press release contains forward-looking statements, which are subject to known and unknown risks, uncertainties, and assumptions that are difficult to predict because they relate to events and depend on circumstances that will occur in the future. Many of these risks and uncertainties relate to factors that are beyond the company's ability to control or estimate precisely, such as future market conditions, currency fluctuations, the behaviour of other market participants, the actions of regulators and other factors. Therefore, the Company actual results may differ materially and adversely from those expressed or implied in any forward-looking statements. Factors that might cause or contribute to such differences include, but are not limited to, economic conditions globally, social, political, economic and regulatory developments or changes in economic or technological trends or conditions in Italy and internationally. Consequently, the Company makes no representation, whether expressed or implied, as to the conformity of the actual results with those projected in the forward-looking statements. Any forward-looking statements made by or on behalf of the Company speak only as of the date they are made. The Company does not undertake to update forward-looking statements to reflect any changes in the Company expectations with regard thereto or any changes in events, conditions or circumstances on which any such statement is based. The reader should, however, consult any further disclosures the Company may make in documents it files with the Italian Securities and Exchange Commission and with the Italian Stock Exchange. *** About Lottomatica Group S.p.A. With approximately Euro 45 billion bets and Euro 2.3 billion of consolidated revenues in FY 2025, Lottomatica is the leader player in the Italian gaming market. It operates across three segments: Online, Sports Franchise and Gaming Franchise. Lottomatica o ffers safe and engaging gaming experiences across all channels. The Group counts on the expertise of approximately 2,600 direct employees and its large franchising network. As of 31 December 2025 Lottomatica has a customer base of more than 2.2 million onl ine customers and distributes its gaming products across approximately 17,400 points of sales.