Earnings release
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1 LOTTOMATICA GROUP S.P.A. STRONG VOLUME GROWTH IN Q3 2026 WITH BOTH ONLINE AND SPORTS BETS GROWING DOUBLE DIGIT. ADJUSTED EBITDA AT +17% YOY NORMALISED1 IN Q3 (+3% REPORTED), WITH CONTINUED ONLINE MARKET SHARE GROWTH. ADJUSTED EBITDA NORMALISED FY 2026 CONFIRMED EXPECTED AT THE TOP END OF THE GUIDANCE1 RANGE. Rome (Italy), 3 November 2026 - The Board of Directors of Lottomatica Group S.p.A., which met on 2nd November 2026, approved the Condensed Consolidated Interim Financial Statements as of and for the nine months ended 30 September 2026. 9M 2026 consolidated results summary ● Bets of Euro 35 billion, +8% compared to 9M 2025 o Online bets growth YoY of +12% o Sports Franchise bets growth YoY of +11% (+15% in Q3) ● GGR2 of Euro 3,516 million, +2% compared to 9M 2025 o Total Online market share: at 31.7% in Q3 (+0.9 p.p. versus Q3 2025) o iSports market share: at 34.8% in Q3 (+2.1 p.p. versus Q3 2025) o iGaming market share: at 31.2% in Q3 (+0.6 p.p. versus Q3 2025) ● Revenues of Euro 1,718 million3, +5% compared to 9M 2025, +10% at normalised payout1; Euro 537 million in Q3 2026, +5% compared to Q3 2025 o Online of Euro 781 million3, +13% compared to 9M 2025, +18% at normalised payout1; Euro 256 million in Q3 2026, +13% compared to Q3 2025 o Sports Franchise of Euro 377 million, -1% compared to 9M 2025, +13% at normali sed payout1; Euro 101 million in Q3 2026, -1% compared to Q3 2025 o Gaming Franchise of Euro 560 million3, -2% compared to 9M 2025; Euro 180 million in Q3 2026, -2% compared to Q3 2025 ● Adjusted EBITDA4 of Euro 665 million, +8% compared to 9M 2025, Euro 715 million and +19% at normalised payout1; Euro 200 million in Q 3 2026, + 3% compared to Q 3 2025; Euro 234 million and +17% at normalised payout1 ● Operating cash flow5 of Euro 545 million ● Adjusted Net Profit6 of Euro 263 million ● Net financial debt at Euro 2,164 million equivalent to 2.4x on LTM run rate Adjusted EBITDA7 1 Calculated assuming a normalised sports betting payout of 80.5% for retail and 85.5% for online . 2 Market shares are based on GGR. GGR (or gross gaming revenues) refers to the difference between bet and winnings. This applie s to the entire document. 3 Includes the revenues of Sportbet S.r.l. and Bgame S.p.A. SB in the Online, and the revenues of the Cristaltec group and Agesoft S.p.A. in the Gaming Franchise, consistent with the approach adopted by management to monitor the results of the operating segments. 4 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 defin ed herein) of equity accounted investments in which the Gr oup 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 proce ss 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. 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 included 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 September 2026, proforma for bolt-ons and PWO run rate synergies.
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Lottomatica Group S.p.A. 9M 2026 Press release 2 ● Guidance1 for fiscal year 2026 confirmed: Adjusted EBITDA normalised expected at the top end of the range. Guglielmo Angelozzi, Chairman and Chief Executive Officer of Lottomatica Group, commented: “The third quarter of 2026 marks another strong quarter for Lottomatica, with double digit growth in Online and Sports volumes, and in Adjusted EBITDA normalised (+17% yoy at normalised payout). We also reached a major strategic milestone with the announced acquisition of CIRSA, which will significantly enhance our scale and future growth opportunities. Looking ahead, we remain confident in our growth trajectory, supported by favourable market d ynamics, continued execution of our strategy and strong cash flow generation.” *** Key consolidated results for 9M 2026 Bets by segment (Euro million, %) 9M 2026 9M 2025 YoY % Online 24,202 21,628 +12% Sports Franchise 3,124 2,805 +11% Gaming Franchise 7,878 8,049 (2%) Total Bets 35,204 32,482 +8% In the first nine months of 2026, Lottomatica collected bets for Euro 35.2 billion, +8% compared to the same period of 2025. The Online segment continued to grow faster, with bets up +12% compared to the first nine months of 2025. Revenues by segment (Euro thousands, %) 9M 2026 9M 2025 YoY % YoY @ PO normalised1 (%) Online3 780,816 688,878 +13% +18% Sports Franchise 376,684 381,707 (1%) +13% Gaming Franchise3 560,281 569,550 (2%) (2%) Revenues3 1,717,781 1,640,135 +5% +10% Revenues amounted to Euro 1,717.8 million3 in the first nine months of 2026, compared to Euro 1,640.1 million in the same period of 2025, with an increase of +5%. Revenues in the first nine months of 2026 at normalised1 payout were +10% compared to the same period of 2025.
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Lottomatica Group S.p.A. 9M 2026 Press release 3 The Online segment revenues amounted to Euro 780.8 million3 in the first nine months of 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 376.7 million in revenues in the first nine months of 2026, -1% compared to the same period of previous year mainly due to sports betting payout, which was overall less favourable than those recorded in the same period of 2025 . The Gaming Franchise segment revenues reached Euro 560.3 million3 in the first nine months of 2026, -2% compared to the same period of previous year. Adjusted EBITDA and margin by segment (Euro thousands, %) 9M 2026 9M 2025 YoY % YoY @ PO normalised1 (%) Online 442,895 56.7% 377,844 54.8% +17% +24% Sports Franchise 86,947 23.1% 102,961 27.0% (16%) +28% Gaming Franchise 135,635 24.2% 136,460 24.0% (1%) (1%) Adjusted EBITDA 665,477 38.7% 617,265 37.6% +8% +19% Adjusted EBITDA reached Euro 665.5 million in the first nine months of 2026, +8% compared to the same period of 2025. Adjusted EBITDA margin is equal to 38.7% on revenues, compared to 3 7.6% in the same period of 2025. At normalised1 payout, Adjusted EBITDA was equal to Euro 715.1 million in the first nine months of 2026, +19% compared to the same period of 2025. Operating cash flow (Euro thousands) 9M 2026 9M 2025 Adjusted EBITDA 665,477 617,265 Recurring capex (74,401) (66,922) Concession capex (46,169) (46,364) Operating cash flow 544,907 503,979 Operating cash flow in the first nine months of 2026 was Euro 544.9 million, compared to Euro 504.0 million for the same period of 2025, mainly due to higher Adjusted EBITDA.
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Lottomatica Group S.p.A. 9M 2026 Press release 4 Net financial debt (Euro million) 30 September 2026 31 December 2025 Gross Financial Debt 2,441.8 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 6.8 173.4 IFRS 16 (leases) 70.0 75.7 Cash (277.7) (143.9) Net Financial Debt 2,164.1 2,105.2 LTM run rate Adjusted EBITDA7 911.2 883.8 Net leverage 2.4x 2.4x Net financial debt amounted to Euro 2,164 million as of 30 September 2026, equivalent to a net leverage of 2.4x on LTM run rate Adjusted EBITDA7. *** Management will hold a conference call at 10:00 CET on 3 November 2026 to comment the consolidated results to the market. The event can be followed: • via phone by pre-registering at the following link: Registration | 9M 2026 Results • via Webcast
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Lottomatica Group S.p.A. 9M 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 nine months ended 30 September (in thousands of Euro) 2026 2025 Revenues 1,686,608 1,634,404 Other income 8,947 9,936 Total revenues and income 1,695,555 1,644,340 Cost of services (964,744) (962,559) Personnel expenses (128,459) (117,248) Other operating costs (26,157) (31,211) Depreciation, amortization and impairments (215,558) (195,270) Impairment of receivables and financial assets 533 (22,379) Other (accruals)/ releases 582 123 Finance income 2,423 2,777 Finance expenses (111,439) (160,216) Share of profit / (loss) of equity accounted investments (363) 52 Profit before tax 252,373 158,409 Income tax expense (97,046) (60,125) Net profit for the period 155,327 98,284 Net profit for the period attributable to non-controlling interests 7,169 4,974 Net profit for the period attributable to the owners of the parent 148,158 93,310 For the nine months ended 30 September (Euro thousands) 2026 2025 Net profit for the period 155,327 98,284 Actuarial gains and losses on employee benefit liabilities 20 773 Fiscal effect on actuarial gains and losses on employee benefit liabilities (5) (186) Other items that will not be classified to profit or loss 15 587 Gains/ (losses) on hedging derivatives 4,537 5,886 Fiscal effect on gains/ (losses) on hedging derivatives (1,089) (1,415) Gains / (losses) on conversion of financial statements of the foreign companies 2 (22) Other items that will be classified to profit or loss 3,450 4,449 Total comprehensive profit 158,792 103,320 Total comprehensive profit attributable to non-controlling interests 7,169 4,974 Total comprehensive profit attributable to the owners of the parent 151,623 98,346
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Lottomatica Group S.p.A. 9M 2026 Press release 6 Consolidated statement of financial position As of 30 September As of 31 December (in thousands of Euro) 2026 2025 Intangible assets 664,865 745,448 Goodwill 2,089,496 2,080,855 Property, plant and equipment 144,464 160,397 Right of use 64,748 69,181 Investment property 388 408 Non-current financial assets 2,028 1,202 Equity accounted investments 31,141 14,825 Non-current trade receivables 2,264 3,171 Deferred tax assets 366 781 Other non-current assets 12,246 17,986 Total non-current assets 3,012,006 3,094,254 Inventories 1,049 1,630 Current trade receivables 60,924 74,070 Current financial assets 30,522 31,570 Tax receivables 95 268 Other current assets 140,138 157,179 Cash and cash equivalents 277,677 143,898 Total current assets 510,405 408,615 Total assets 3,522,411 3,502,869 Share capital 10,000 10,000 Other reserves (87,413) 109,225 Retained earnings 257,809 205,845 Total shareholders' equity attributable to the owners of the parent 180,396 325,070 Equity attributable to non-controlling interests 56,866 52,418 Total shareholders' equity 237,262 377,488 Employee benefit liabilities 26,579 27,753 Non-current financial liabilities 2,414,335 2,069,779 Provisions for risks and charges 39,622 41,135 Deferred tax liabilities 112,561 126,077 Other non-current liabilities 20,583 34,651 Total non-current liabilities 2,613,680 2,299,395 Current financial liabilities 133,221 266,312 Current trade payables 101,193 131,130 Tax payables 65,692 31,095 Other current liabilities 371,363 397,449 Total current liabilities 671,469 825,986 Total equity and liabilities 3,522,411 3,502,869
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Lottomatica Group S.p.A. 9M 2026 Press release 7 Consolidated statement of cash flows (in thousands of Euro) For the nine months ended 30 September INDIRECT METHOD 2026 2025 Profit before tax 252,373 158,409 Reconciliation of profit before tax with cash flow from operating activities: Depreciation, Amortization and Impairment 215,558 195,270 Accruals and write-downs for impairment losses (1,115) 22,256 Other accruals (500) 2,588 Share of profit/(loss) of equity accounted investments 363 (52) Net financial expenses 106,129 154,141 Leasing financial expenses 2,887 3,298 Other adjustments for non-monetary items 4,267 8,934 Cash flow from operating activities before changes in net working capital 579,962 544,844 Changes in net working capital Decrease/(increase) in inventories 544 (206) Decrease in trade receivables 13,319 10,259 Decrease in trade payables (11,011) (11,900) Other changes in net working capital 6,792 3,222 Cash flow from changes in net working capital 9,644 1,375 Income taxes paid (74,831) (45,680) Accruals to employee benefits and provisions for risks and charges (1,533) (2,016) Cash flow from operating activities (a) 513,242 498,523 Cash flow from investing activities Investments: (151,167) (135,505) - intangible assets (114,288) (87,161) - property, plant and equipment (36,879) (48,344) Investments in equity accounted investments (13,683) (11,728) Deferred purchase consideration for acquisition of subsidiaries/business units (12,285) (35,162) Acquisitions net of cash and cash equivalents (1,764) (15,672) Cash flow from investing activities (b) (178,899) (198,067) Cash flow from financing activities Proceeds from senior secured notes issuance 765,000 1,100,000 Repayment of senior secured notes (400,000) (1,065,000) Make-whole costs - (21,018) Fees of issuance of senior secured notes (9,517) (12,426) Net financial expenses including RCF (57,578) (81,128) Lease payment (22,857) (21,180) Repayment of other bank liabilities (1,510) (2,140) Changes in other financial assets and liabilities 969 763 Share buyback (368,200) (64,341) Transactions with minorities (1,807) 153 Dividends paid (105,064) (77,055) Cash flow from financing activities (c) (200,564) (243,372) Net Cash flow (a+b+c) 133,779 57,084 Cash and cash equivalents at the beginning of the period 143,898 164,156 Cash and cash equivalents at the end of the period 277,677 221,240
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Lottomatica Group S.p.A. 9M 2026 Press release 8 Reconciliation of Non-GAAP Measures Adjusted EBITDA (in thousands of Euro) 9M 2026 9M 2025 FY 2025 Net profit for the period 155,327 98,284 179,836 Income tax expense 97,046 60,125 95,940 Net financial expenses 109,016 157,439 190,147 Share of profit/(loss) of equity accounted investments 363 (52) 110 Depreciation, amortization and impairment 215,558 195,270 261,269 Adjusted EBITDA from equity accounted investments and/or of businesses disposed of or in the process of disposal 5,942 2,029 2,948 Costs related to M&A, advisory and international activities 9,481 5,002 8,266 Integration costs - 37,092 40,543 Other non-recurring (income) / expenses (monetary) 63,501 30,386 40,588 Other non-recurring (income)/ expenses (non-monetary) 9,243 31,690 36,512 Adjusted EBITDA 665,477 617,265 856,159 Adjusted Net Profit (in thousands of Euro) 9M 2026 9M 2025 FY 2025 Net profit for the period 155,327 98,284 179,836 Amortization of assets resulting from business combinations and other non- recurring depreciation and amortization 51,665 53,088 70,303 Other non-recurring costs and income excluded from Adjusted EBITDA 82,225 104,170 125,909 Adjustments related to refinancing 5,666 47,015 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 25,997 26,324 Other non-recurring net financial expenses 783 5,285 5,682 Other non-monetary items included in financial expenses 9,830 8,959 11,787 Tax effect (IRES + IRAP) (42,896) (59,358) (71,471) Adjusted Net Profit 262,600 257,443 369,388
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Lottomatica Group S.p.A. 9M 2026 Press release 9 Further information Mirko Senesi Investor Relations, Capital Markets and M&A Director 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 inte rnationally. 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 in bets and Euro 2.3 billion of consolidated revenues in FY 2025, Lottomatica is the lead ing player in the Italian gaming market. It operates across three segments: Online, Sports Franchise and Gaming Franchise. Lottomatica offers safe and engaging gaming experiences across all channels. The Group counts on the expertise of approximately 2,600 di rect employees and its large franchising network. As of 31 December 2025 Lottomatica has a customer base of more than 2.2 million online customers and distributes its gaming products across approximately 17,400 points of sale.