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Q2 2026 Interim Report - PresentationGentoo Media 2026Gentoo Media 26 August 2026 Q2 2026 Presentation
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Q2 2026 Interim Report - PresentationGentoo Media Gentoo Media Q2 2026 Interim Report - Presentation Connecting high-intent players with leading iGaming operators worldwide
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Q2 2026 Interim Report - PresentationGentoo Media Gentoo Media business model Potential user Gentoo Media partners Publishing Affiliate websites Paid channels End-user (FTD) 1 2 3 Commission models 1 2 3 Revenue share (~60%) Recurring revenue with high earnings potential via compounding effect as revenue from cohorts grows over time Listing fee (~30%) Fixed payment for exposure, requiring high traffic volume to attract advertisers CPA (~10%) One-time payment with low earning potential and high risk, as revenue declines immediately if traffic or rates drop CommissionLeads converted Leads directed The digital storefront for the iGaming industry Gentoo Media Q2 2026 Interim Report - Presentation
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Q2 2026 Interim Report - PresentationGentoo Media Gentoo Media’s strategy Gentoo Media 01 Reduced complexity 02 Stronger flagship brands 03 Win with local champion sites 04 Multi-channel acquisition 05 Higher player value 06 Superior tech, product & design STRATEGIC AMBITION STRATEGIC PILLARS (how we get there) A leaner, more focused, cash-generative affiliate business Capital and resources directed to the highest-performing brands, markets and channels Higher revenue quality & player value Stronger flagship & local champion brands Multi-channel acquisition, incl. AI discovery Full transition to an AI-enabled operating model
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Q2 2026 Interim Report - PresentationGentoo Media Q2 2026 Executive summary Q2 2026 Interim Report - Presentation Q2 2026: continued operational and financial progress - revenue below expectations Player intake and player activity increased quarter over quarter, supported by the FIFA World Cup and higher marketing investment, but did not translate into an immediate revenue uplift Marketing + people + other OPEX: ↓16% Y oY Operating cash flow: EUR 6.4m ↓13% Y oY (incl. EUR 2.0m accelerated supplier payments) - ↑13% Y oY excluding these Continued investment: sports, product, tech & AI NIBD (incl. deferred consideration): ↓ EUR 2.0m · Leverage ratio: 2.58× (2.99×)
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Q2 2026 Interim Report - PresentationGentoo Media Q2 quarterly highlights Revenue & EBITDA (EUR million) Cash from operations (EUR million) First-time depositors / FTDs (‘000) Value of deposits (EUR million) Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 14.89.38.4 10.5 24.025.6 22.7 25.0 7.4 8.6 14.0 7.4 195 195 202 201 52.5 83.7 136.2 52.5 56.6 109.1 47.5 55.4 102.9 47.3 34.1 81.4 Paid Publishing EBITDA* Revenue *EBITDA before special items 6% 52.2 49.7 101.9 207 6.4 8.9 22.9 1. Q2 Performance
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Gentoo Media Q3 2025 Interim Report - Presentation Gentoo Media Q2 2026 Interim Report - Presentation Financial highlights Gentoo Media Q2 2026 Interim Report - Presentation
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Q2 2026 Interim Report - PresentationGentoo Media Financial Q2 highlights Revenue EBITDA* Gentoo Media Revenue & EBITDA (EUR million) * EBITDA before special items (adj. EBITDA) Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 25.0 22.7 25.6 24.0 22.9 8.9 10.5 14.89.38.4 REVENUE 22.9 EURm ↓ 9% Y oY MARKETING 6.8 EURm ↓ 19% Y oY ↑ 25% QoQ PERSONNEL & OTHER OPEX 7.2 EURm ↓ 12% Y oY ↓ 11% QoQ ADJ. EBITDA 8.9 EURm ↑ 5% Y oY OPERATING CASH FLOW 6.4 EURm ↓ 13% Y oY
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Q2 2026 Interim Report - PresentationGentoo Media *Analysis covers ~94% of revenue Listing fees / other CPA Revenue share Revenue split Q2 26 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 15.2 14.5 15.1 14.4 13.7 60% 28% 12% 3.3 2.9 3.9 3.3 2.7 6.5 5.3 6.6 6.3 6.5 25.0 22.7 25.6 24.0 22.9 Listing fees / other CPA Revenue share Revenue split per quarter (EUR million) Revenue details Global (Rest of World) Americas Europe Revenue by region Q2 26 59% 23% 18% Europe (Y oY Growth) Nordic ↑ 7% Rest of Europe ↓ 21% Americas (Y oY Growth) Latin America ↑ 10% North America ↓ 24% Global (Rest of World) ↑ 14%
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Q2 2026 Interim Report - PresentationGentoo Media Paid ↑46% QoQ FTDs (‘000) ↑ 25% QoQ ↓ 25% Y oY Player intake & value of deposits Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 136.2 52.5 83.7 109.1 52.5 56.6 102.9 47.5 55.4 81.4 47.3 34.1 195 195 202 201 207 49.7 52.2 101.9 Fewer, higher-value players year-over-year Publishing ↑10% QoQ AMERICAS GLOBAL EUROPE ↑ 40% QoQ↑ 27% QoQ- Stable Value of Deposits (EUR million) EUR 207m ↑ 3% QoQ ↑ 6% Y oY All-time high
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Q2 2026 Interim Report - PresentationGentoo Media Leaner and more scalable operating model Total marketing spend and OPEX decreased by EUR 2.6 million, or 16%, year-over-year Marketing spend increased throughout the quarter and was up 25% from Q1, reflecting increased investment around the FIFA World Cup, while remaining 19% below Q2 2025 Combined, people costs and other OPEX decreased by 12% year-over-year to EUR 7.2 million, and by 11% quarter-over-quarter equivalent to EUR 0.9 million in line with the outlook communicated in Q1 People costs declined by 29% year-over-year, reflecting the reduction in headcount from 358 to 283 FTEs Other OPEX increased by 37% as certain people-related costs shifted to consultancy Q2 25 Q2 26 6.0 8.4 6.8 14.0 People cost Marketing cost Gentoo Media Marketing spend and OPEX (EUR million) 2.1 Other OPEX incl. bad debt 8.2 7.2 4.3 16.6 2.9 MARKETING, QoQ ↑ 25% PEOPLE + OTHER OPEX, QoQ ↓ EUR 0.9m HEADCOUNT, Y oY ↓ 358 → 283 16.6 -1.6 -1.7 +0.8 14.0Marketing spend & Opex bridge (EURm) EUR 16.6m → EUR 14.0m (↓16% → Q2 26) Q2 25 Marketing People cost Other OPEX Q2 26
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Q2 2026 Interim Report - PresentationGentoo Media Capital structure and deleveraging IBD, cash and deferred considerations (EUR million) and leverage ratio Interest bearing debt Deferred payments Since Q1 2025, interest-bearing debt (IBD) including deferred payments was reduced by EUR 15.8 million. Cash was used to deleverage the business, hence Net interest-bearing debt (NIBD) including deferred payments was reduced by EUR 13.2 million Q2 2026 further improved the Company’s financial position: ● Repayment of deferred payments of EUR 1.0 million ● Repayment of EUR 1.0 million under the shareholder facilities Deferred payments are expected to be eliminated by Q3 2026 The leverage ratio improved to 2.58× from 2.99× last year Leverage ratio (NIBD/EBITDA) Cash and cash equivalents 122.8 122.5 117.7 114.112.4 6.7 4.3 2.6 116.3 119.4 116.7 114.0 2.99× 3.34× 2.85× 2.66× -5.9 -3.6 -3.3 -2.5 112.2 1.7 112.6 2.58× -2.1 30 Jun 25 30 Sep 25 31 Dec 25 31 Mar 26 30 Jun 26 IBD INCL. DEFERRED PAYMENTS, SINCE Q2 2025 ↓ EUR 14.4m NIBD INCL. DEFERRED PAYMENTS, SINCE Q2 2025 ↓ EUR 10.6m DEFERRED PAYMENTS REPAID, Q2 26 EUR 1.0m SHAREHOLDER FACILITY REPAID, Q2 26 EUR 1.0m LEVERAGE RATIO IMPROVED FROM 2.99× → 2.58× Y oY
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Q2 2026 Interim Report - PresentationGentoo Media Deleveraging continues as refinancing process advances Profitability and credit metrics have improved over the past 12 months ● Adjusted EBITDA LTM increased 6% year on year to EUR 43.4 million ● NIBD decreased 9% year on year to EUR 112.2 million ● Leverage improved from 2.99× to 2.58× Debt structure at 30 June 2026: ● EUR 91.5 million listed bond, maturing 31 December 2026 ● EUR 15 million shareholder-backed facility, maturing 31 December 2027 ● EUR 2 million shareholder-backed unsecured facility, maturing 30 April 2027 EURm Q2’25 Q3’25 Q4’25 Q1’26 Q2’26 Adj. EBITDA LTM 41.0 36.7 41.3 43.0 43.4 NIBD 122.8 122.5 117.7 114.1 112.2 Leverage ratio 2.99× 3.34× 2.85× 2.66× 2.58× Continued deleveraging and improved credit metrics 6 % 9 % 14 % Change REFINANCING OUTLOOK The Board and management are evaluating a range of refinancing alternatives, including a new bond and private debt structures. The objective is to secure an appropriate long-term solution with sufficient flexibility, including the ability to distribute cash, while maintaining disciplined cost of financing. No preferred structure has yet been selected. The market will be updated no later than 1 October 2026 MARKET UPDATE BY 1 October 2026 Profitability and credit metrics (12−month improvement) Adj. EBITDA LTM: EUR 43.4m ↑ 6% Y oY NIBD: EUR 112.2m ↓ 9% Y oY Leverage ratio: 2.58× (from 2.99×) Debt structure at 30 June 2026 EUR 91.5m listed bond, matures 31 Dec 2026 EUR 15m shareholder facility (secured), matures 31 Dec 2027 EUR 2m shareholder facility (unsecured), matures 30 Apr 2027
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Gentoo Media Q3 2025 Interim Report - Presentation Gentoo Media Q2 2026 Interim Report - Presentation Operational highlights
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Q2 2026 Interim Report - PresentationGentoo Media Publishing highlights Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Publishing Revenue Quarterly Revenue (EUR million) Q2 ‘25 Q3 ‘25 Q4 ‘25 Q1 ‘26 Q2 ‘26 20.0 18.4 19.8 19.3 18.5 Publishing revenue of EUR 18.5 million, down 4% QoQ and 8% Y oY Continued focus on core brands, monetisation and highest-potential markets Product development centered on AskGamblers, Casinomeister and sports products Further websites migrated to Gentoo Media's next-generation platform enabling faster product, content and SEO execution Casinomeister migration completed after quarter-end AI adoption advanced, internal AI assistant increased content and editing efficiency
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Q2 2026 Interim Report - PresentationGentoo Media Paid highlights Paid Revenue Quarterly Revenue (EUR million) Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q2 ‘25 Q3 ‘25 Q4 ‘25 Q1 ‘26 Q2 ‘26 5.0 4.3 5.8 4.8 4.4 Paid revenue of EUR 4.4 million, down 8% QoQ and 12% Y oY Player acquisition accelerated, with FTDs up 46% QoQ and stable CAC Higher operator bonuses and incentives reduced initial revenue from newly acquired revenue-share players Expanded player base expected to generate recurring revenue over time AI-driven site creation and real-time optimisation fully operational
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Q2 2026 Interim Report - PresentationGentoo Media Partner optimisation Stronger relationships in priority markets Traffic optimisation Direct traffic towards highest-converting partners Brands, products & technology Invest in brands, sport & tech Scaling paid acquisition Scale spend where payback is proven Advancing the drivers of growth Q2 2026 Interim Report - Presentation Closing the gap between improving player activity and revenue
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Gentoo Media Q3 2025 Interim Report - Presentation Gentoo Media Q2 2026 Interim Report - Presentation Summary & outlook Gentoo Media Q2 2026 Interim Report - Presentation
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Q2 2026 Interim Report - PresentationGentoo Media Summary & outlook Revenue down 9% Y oY; adjusted EBITDA up 5% to EUR 8.9 million Adjusted EBITDA margin increased 5pp to 39%, supported by a structurally lower cost base Player intake and activity increased, but did not translate into Q2 revenue growth Further cost reductions expected in H2 through optimisation and AI adoption Strong cash generation supported continued de-risking and deleveraging Investment continued in flagship brands, sports products and Paid acquisition to support future growth H2 priorities: commercial optimisation and converting player activity into revenue growth Items Previous guidance Revised 2026 guidance Revenue EUR 105–115 million EUR 97−100 million Adjusted EBITDA EUR 49–54 million EUR 44−47 million Adjusted EBITDA % 47% 45−47% Cash flow from operations EUR 37–41 million EUR 32−36 million Following the completion of H1 2026, Gentoo Media revises its full-year guidance "Lower-than-expected H1 revenue reduced the full-year outlook, partly offset by continued cost reductions and resilient margins."
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Q2 2026 Interim Report - PresentationGentoo MediaGentoo Media Thank you Q2 2026 Interim Report - Presentation
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This Presentation (the “Presentation”) has been prepared by Gentoo Media Inc., herunder Gentoo Media (the “Company”). This Presentation is for informational purposes only, and this Presentation is neither an offer to sell or purchase, nor a solicitation of an offer to sell, purchase or subscribe for, nor a recommendation or advice regarding, any securities of the Company, in any jurisdiction. This Presentation has not been approved or recommended by the U.S. Securities and Exchange Commission or any other federal or state securities commission or securities regulatory authority or other regulatory body or authority, nor has any of these bodies or authorities passed upon the merits of, or the accuracy and adequacy of, any of the information contained in this Presentation. This Presentation does not purport to be all inclusive or to necessarily contain all the information that you may desire in evaluating a possible investment in the Company. Y ou should conduct your own investigation and analysis, and you should consult your own professional advisors in order to properly assess the merits and risks associated with any transaction with the Company. Neither the Company nor any of its directors, officers, employees, affiliates, or representatives, or any other person makes any representation or warranty, express or implied, as to the accuracy or completeness of the information contained in this Presentation, including, without limitation, any financial information or projections. Only those specific representations and warranties, if any, which may be made to an investor in one or more definitive written agreements when, as and if executed by the Company and such investor, and subject to such limitations and restrictions as may be specified in such definitive written agreements, shall have any legal effect. 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These forward-looking statements are generally identified by words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “seem,” “seek,” “future,” “outlook, “model,” “target,” goal,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “strive,” “would,” “will”·or words of similar meaning that predict or indicate future events or trends or that are not statements of historical facts. These forward-looking statements may include, among other things, statements about future financial condition and results of operations, plans, objectives, strategies, beliefs, expectations and intentions with respect to, among other things, growth initiatives and market opportunities, competitive landscape, prospective performance, revenues, products, pricing. operating expenses, market trends, liquidity, cash flows and uses of cash and capital expenditures. Such forward-looking statements are based upon the current beliefs and expectations of the Company’s management and are inherently subject to significant business, economic and competitive risks, uncertainties and contingencies. Actual results, performance or achievements may differ materially, and potentially adversely, from any forward-looking statements and the assumptions on which these forward-looking statements are based. There can be no assurance that the information contained in this Presentation is reflective of actual future results, performance and/or achievements to any degree. These forward-looking statements are provided for illustrative purposes only, and you are cautioned not to place undue reliance on these forward-looking statements as a guarantee, assurance or prediction of future results, performance and/or achievements as these forward-looking statements are based on estimates, projections and assumptions, whether or not identified in this Presentation, that are inherently subject to various significant risks, uncertainties, contingencies and other factors, many of which are difficult to predict and generally beyond the control of the Company. There may be additional risks and other factors that the Company does not currently know or that the Company currently believes are immaterial that could also cause actual results, performance or achievements of the Company to differ from those contained in these forward-looking statements. Consequently, there can be no assurance that the actual results, performance and achievements anticipated in this Presentation will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, the Company. This Presentation contains unaudited financial information of the Company that has been prepared in accordance with International Financial Reporting Standards (“IFRS”), as issued by the International Accounting Standards Board. Such financial information prepared in accordance with IFRS may be adjusted or may be presented differently in presentations prepared by other companies in accordance with United States generally accepted accounting principles (“GAAP”), and these differences may be material. In addition, the unaudited financial information contained in this Presentation is preliminary and may be subject to change, and past performance is not a guarantee or indication of future financial condition and/or results of operations and should not be relied upon for such reason. This Presentation also includes such non-GAAP financial measures as EBITDA or adjusted EBITDA. The Company’s management uses these non-GAAP financial measures to evaluate the Company’s operations, measure its performance, and make strategic decisions. The Company believes that the use of these non-GAAP financial measures provides useful information in understanding the Company’s results of operations and trends. However, these non-GAAP financial measures are subject to inherent limitations as they reflect the exercise of judgments by the Company’s management. Using such non-GAAP financial measures in isolation to analyze the Company’s business would have material limitations because these calculations are based on the subjective determination of the Company’s management regarding the nature and classification of events and circumstances that you may find significant. All information set forth in this Presentation speaks only as of the date hereof or the date of such information, as applicable, and the Company expressly disclaims any intention or obligation to update any statements, including forward-looking statements, as a result of developments occurring after the date of this Presentation. None of the Company, any of its directors, officers, employees, affiliates or representatives, or any other person has been authorized to give any information other than information contained in this Presentation, and, if given or made, such information should not be relied upon as having been authorized by the Company or any of its directors, officers, employees, affiliates or representatives or any other person. Disclaimer Gentoo Media Q2 2026 Interim Report - Presentation