Slides
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Q3 2025 Presentation of interim report
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Q3 2025 FINANCIAL HIGHLIGHTS 2 REVENUE 296 MEUR +6% YoY CASINO REVENUE +6% YoY EBIT 67 MEUR +4% YoY EBIT MARGIN 22.6% Earnings per share (EPS) 0.34 EUR +10% YoY CUSTOMER DEPOSITS 1,452 MEUR -2% YoY SPORTSBOOK REVENUE +4% YoY Margin 8.8% NET CASH ON BALANCE SHEET 220 MEUR OPERATING CASH FLOW 65 MEUR +4% YoY All-Time High Level
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OUR MARKETS – SOME ACTIVITIES NEW MARKETS B2B M&AEXISTING MARKETS GREECE New main sponsor of basketball clubs Mykonos BC and Aris BC ITALY New jersey sponsor of SSC Bari 3
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OUR MARKETS – SOME ACTIVITIES LITHUANIA SWEDEN Extended sponsorship with ATP Nordic Open in Stockholm NEW MARKETS B2B M&AEXISTING MARKETS Renewed main sponsor for Lithuanian Basketball Federation Extension of sponsorship with football club FK Zalgiris Naming sponsor for Basketball League (Betsson LKL) 4
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PRODUCT & TECHNOLOGY DEVELOPMENT 5 Sportsbook: • Improved UX • Betbuilder expansion • Early win pay out launched Argentina: Native OneApp launched Platform: Continuous development to strengthen performance and flexibility Casino: • 483 new games released • 30 exclusive games
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CUSTOMER ACTIVITY AND UNDERLYING KPIs Sportsbook turnover -19% Sportsbook margin 8.8% (7.4%) L2Y average SB margin 8.1% Sportsbook revenue +4% Casino turnover -6% Casino revenue +6% -2% Casino 75% Sportsbook 24% Other 1% 0 200 400 600 800 1 000 1 200 1 400 1 600 1 800 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Customer deposits (MEUR) 71 8,8% 5% 6% 7% 8% 9% 10% 11% 12% 0 20 40 60 80 100 120 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 MEUR Sportsbook revenue and margin Sportsbook revenue Sportsbook margin 6
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REVENUE DEVELOPMENT BY QUARTER +6% 200 221 222 237 238 252 248 271 280 307 294 304 296 Q3-22 Q4-22 Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 MEUR Group revenue 36% 34% 36% 36% 45% 46% 44% 55% 58% 60% 59% 66% 64% 64% 66% 64% 64% 55% 54% 56% 45% 42% 41% 41% 34% 36% Q3-22 Q4-22 Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Locally regulated POS-regulated 7
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dffdfdf REVENUE DEVELOPMENT BY REGION YOY MEUR 8 +6% +11% Nordics 12% Latin America 26% Western Europe 19% CEECA 41% RoW 2% 296 312 9 12 3 7 3 16 280 Q3 24 revenue Nordics Western Europe CEECA LatAm Rest of world Q3 25 reported revenue FX and M&A effects Q3 25 organic revenue
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EBIT DEVELOPMENT YOY EBIT Margin 23.0% EBIT Margin 22.6% +4% MEUR Q3 2025 Q3 2024 Revenue 296 280 Gross profit 190 179 Gross profit margin 64.2% 63.8% Opex 123 114 EBIT 67 65 9 MEUR 67 5 2 10 16 0 3 65 Q3 -24 EBIT Revenue Cost of Services Provided Marketing Expenses Personnel Expenses D&A Other Items, net Q3-25 EBIT MEUR
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CASH FLOW & FINANCIAL POSITION MEUR Q3 2025 Q3 2024 Operating cash flow 64.8 62.5 Cash flow from investing activities 12.4 -23.1 Cash flow from financing activities -7.8 35.0 Cash flow for the period 69.4 74.5 Cash and cash equivalents, end of period 394.2 337.5 — Operating cash flow in Q3 — Increased operating profit — Negative effect from working capital follwing decreased accrued expenses — Investments in Q3 — Investments in own product and technology development — Reversal of the purchase consideration of the discontinued acquisition of Holland Gaming Technology Ltd and Holland Power Gaming B.V — Financing activities in Q3 — Dividend paid to shareholders with non-controlling interests — Lease payments — Net cash of 220.0 (128.3) MEUR at end of Q3 — Net debt/EBITDA: -0.7x (-0.4x) — Equity/assets: 60% (58%) 10
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0,00 0,20 0,40 0,60 0,80 1,00 1,20 1,40 2021 2022 2023 2024 2025 EUR Q1 Q2 Q3 Q4 CASH FLOW AND EARNINGS PER SHARE Earnings per share (EPS)Operating cash flow 0 50 100 150 200 250 300 2021 2022 2023 2024 2025 MEUR Q1 Q2 Q3 Q4 11
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Q4 2025 TRADING UPDATE* * This is not a revenue forecast, only an indication of how the third quarter of 2025 has started. Q4 Average daily revenue up to and including 19 October was 2% higher than the average daily revenue of the full quarter of Q4 2024. Adjusted for currency effects and acquisitions, the average daily revenue until 19 October was 10% higher than the average daily revenue of the full fourth quarter of 2024. 12
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SHARE BUYBACK PROGRAM —The Board has decided to initiate a share buyback program of EUR 40 million of class B shares in Betsson —The buyback program starts the earliest on 24 October 2025, and continues up to and including 30 April 2026 —The buyback program will be carried out in accordance with the so-called Safe Harbour Regulation 13
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HIGHLIGHTS Q3 2025 Continued profitable growth Revenue up 6% year over year, despite FX headwinds Growth driven by Western Europe and Latin America Record casino revenue EBIT up 4% year over year Share of revenue from locally regulated markets at 64% (58%) Strong balance sheet with record EUR 220 million in net cash 14
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Q&A
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FINANCIAL CALENDAR CONTACT Roland Glasfors VP Communications & Investor Relations +46 760 024 863 ir@betssonab.com 5 February 2026 Q4 2025 and FY 2025 results 24 April 2026 Q1 2026 results 22 October 2026 Q3 2026 results 4 February 2027 Q4 2026 results 17 July 2026 Q2 2026 results