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We are the premier pure play global lottery company: → Premier global lottery operator (B2C) - largest based on combined wagers → Providing secure, comprehensive lottery technology and solutions to ~90 customers on six continents (B2B) For nearly 50 years, our innovative products and services have helped our customers to excel and distinguish their lotteries from other forms of discretionary consumer spending Now, we’re shaping the future of the global lottery business in partnership with our customers and for the entertainment of their players Elevating Lotteries, Inspiring Players NYSE: BRSL
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2 Cautionary Statement Regarding Forward-Looking Statements This presentation may include forward-looking statements (including within the meaning of the Private Securities Litigation Reform Act of 1995) concerning the Company and other matters. These statements may discuss goals, intentions, and expectations as to future plansand strategies, expected growth, transactions, trends, events, products and services, dividends and their classification for U.S. income tax purposes,results of operations, and/or financial condition or measures, including our expectations on future revenue, income from continuing operations, Adjusted EBITDA, cash from and used in operations, capital expenditures, cash to be returned to shareholders, FY’25 EUR/USD assumption, share repurchases, and any other future financial and operational performance, including 2028 revenue, profit, free cash flow and capital expenditure targets, based on current beliefs of the management of the Company as well as assumptions made by, and information currently available to, such management. Forward-looking statements may be accompanied by words such as “aim,” “anticipate,” “believe,” “plan,” “could,” “would,” “should,” “shall," “continue,” “estimate,” “expect,” “forecast,” “future,” “guidance,” “intend,” “may,” “will,” "outlook," “possible,” “potential,” “predict,” “project,” “target” or the negative or other variations of them. These forward-looking statements speak only as of the date on which such statements are made and are subject to various risks and uncertainties, many of which are outside the Company’s control. Should one or more of these risks or uncertainties materialize, or should any of the underlying assumptions prove incorrect, actual results may differ materially from those predicted in the forward-looking statements and from past results, performance, or achievements. Therefore, you should not place undue reliance on such statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include (but are not limited to) macroeconomic regulatory and political uncertainty, includingas a result of new or increased tariffs, trade wars, and other restrictions on trade between or among countries in which the Company operates, and related changes in discretionary consumer spending and behavior, fluctuations in foreign currency exchange rates, changes in prevailing interestrates, changing inflation rates, impacts from increased U.S. national deficits, financial market volatility and the other factors and risks described in the Company’s annual report on Form 20-F for the financial year ended December31, 2024 and other documents filed or furnished from time to time with the SEC, which are available on the SEC’s website at www.sec.gov and on the investor relations section of the Company’s website at www.brightstarlottery.com. Except as required under applicable law, the Company does not assume any obligation to update these forward-looking statements. You should carefully consider these factors and other risks and uncertainties that may affect the Company’s business, including management's discussion and analysis of potential or actual impacts to operations and financial performance. Nothing in this news release is intended, or is to be construed, as a profitforecast or to be interpreted to mean that the financial performance of Brightstar Lottery PLC for the current or any future financial years will necessarily match or exceed the historical published financial performance of Brightstar Lottery PLC, as applicable. All forward-looking statements contained inthis news release are qualified in their entirety by this cautionary statement. All subsequent written or oral forward-looking statements attributableto Brightstar Lottery PLC, or persons acting on its behalf, are expressly qualified in their entirety by this cautionary statement. Comparability of Results All figures presented in this presentation are prepared under U.S. GAAP, unless noted otherwise. Non-GAAP Financial Measures Management supplements the reporting of financial information, determined under GAAP, with certain non-GAAP financial information. Management believesthe non-GAAP informationpresentedprovidesinvestorswith additionaluseful information,but it is not intended to, nor shouldit be consideredin isolation or as a substitute for the related GAAP measures. Moreover, other companies may define non-GAAP measures differently, which limits the usefulness of these measures for comparisonswith such other companies. The Company encouragesinvestors to review its financial statementsand publiclyfiled reportsin their entiretyand not to rely on any singlefinancialmeasure. Adjusted EBITDA represents net income (loss) from continuing operations (a GAAP measure) before income taxes, interest expense, net, foreign exchange gain (loss), net, other expenses (e.g., gains/losses on extinguishment and modifications of debt, etc.), net, depreciation, impairment losses, amortization (service revenue, purchase accounting, and non-purchase accounting), restructuring expenses, stock- based compensation, litigation expense (income), and certain other non-recurring items. Other non-recurring items are infrequentin nature and are not reflective of ongoing operational activities. Management believes that Adjusted EBITDA is useful in providing period-to- period comparisons of the results of the Company's ongoing operational performance. Net debt is a non-GAAP financialmeasure that representsdebt (a GAAP measure,calculatedas long-term obligationsplus short-term borrowings)minuscapitalizeddebtissuancecosts and cash and cash equivalents,includingcash and cash equivalentsheld for sale. Cash and cash equivalents,including cash and cash equivalentsclassifiedas held for sale, are subtractedfrom the GAAP measurebecause they could be used to reduce the Company’sdebt obligations. Managementbelievesthat net debtis a useful measureto monitorleverage and evaluatethe balancesheet. Net debt leverage is a non-GAAP financial measure that represents the ratio of Net debt as of a particular balance sheet date toAdjusted EBITDA for the last twelve months prior to such date. Management believes that net debt leverage is a useful measure to assess the Company’s financial strength and ability to incur incremental indebtedness when making key investment decisions. Free cash flow is a non-GAAP financial measure that represents cash flow from operations (a GAAP measure) less capital expenditures. Management believes free cash flow is a useful measure of liquidity and an additional basis for assessing the Company’s ability to fund its activities, including debt service and distribution of earnings to shareholders. Medium-term Targets The Company providesguidanceof select informationrelated to its financialand operatingperformance,and such measuresmay differ from year to year. The guidance is only an estimate of what the Company believes is realizable as of the date of this release. Actual results may vary from the guidance and the variations may be material. The Company undertakes no intent or obligation to publicly updateor reviseany of these projections,whetheras a result of new information,futureevents or otherwise,except as requiredby law. A reconciliationof our forward-lookingnon-GAAP financialmeasuresto the most directlycomparableGAAP financialmeasurecannot be providedwithoutunreasonableeffort. This is due to the inherentdifficultyof accuratelyforecastingthe occurrenceand financialimpact of the adjustingitems necessary for such a reconciliationto be prepared, for example, the provisionfor income taxes or net foreign gain/loss,as such itemshave not yet occurred,are out of our control,or cannotbe reasonablypredicted.
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3 The future is Brightstar Global Leadership in Large, Growing Industry Growing, Resilient Business with High Contractual Recurring Revenue Significant Tailwind from Broader iLottery Adoption Attractive Profit Profile & Strong, Predictable Cash Flows Balanced Capital Allocation Strategy Includes Increased Capital Returns for Shareholders Current Valuation Provides Compelling Entry Point WHY INVEST
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4 Strong leadership position and financial profile ~90 Global customers Unique B2B and B2C Business offering ~30 years Typical customer relationship 10+ years Average service contract length ~97% U.S. FM and Italy Operator contracts renewal rate over last 15 years(1) ~78% / ~90% US Lottery Systems / Italy Market share ~$2.5B 2024 Revenue $271M 2024 Income from Continuing Ops ~$1.2B 2024 Adjusted EBITDA* $689M Cash Flow from Operations 59% Cash Flow Conversion(2) $149M 2024 CapEx 6% 94% 49% 38% 13% 95% 5% OperationalFinancialBusiness Mix(3) Note: Financial data is FY’24 from continuing operations; a reconciliation of Adjusted EBITDA to its closest GAAP measure wasprovided in the Q4’24 earnings press release which can be found on the investor relations section of the Company’s website at www.Brightstarlottery.com (1) Calculated based on lottery sales at contract year end (2) Calculated as cash from operations divided by Adjusted EBITDA (3) Calculated as percentage of total revenue PRODUCT MIX GAME TYPE (BY WAGER-BASED REVENUE) GEOGRAPHIC BREAKDOWN WHY INVEST U.S. Multi-State Jackpots Instant Tickets and Draw Games Product Sales Service Italy U.S. & Canada ROW
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5 Compelling investment opportunity driven by unique competitive positioning Management team With unparalleled depth of experience in the Industry Market Opportunity Large, growing & resilient global lottery industry, with long-term contracts requiring specialized expertise Market Leadership Pure-play global market leader in lottery technology with growing, recurring revenue base Tech Leadership Unique value chain position, industry-leading technology & product innovation Our Core Growth Engines Enablers ENABLED BY FOCUSED AND WELL EXECUTED STRATEGY DELIVERING COMPELLING SHAREHOLDER VALUE Expect up to $1.7B in capital returns in 2025 through 2028 period WHY INVEST Maintain and grow FM & Operator contracts with most of the largest global lotteries Pursue targeted takeaway & greenfield opportunities Fast-growing digital channel, primarily in U.S., where Brightstar is well positioned to win Established right-to-win in Italy with iLottery & other B2C opportunities Ongoing efficiencies through proven OPtiMa program Digitalization & AI adoption
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6 Growing and resilient industry where incumbency has significant value 2008 2009 2010 2020 2021 2022 2023 2024 2025E 2026E 2027E 2028E 2007 195 203 210 214 366 373 385 399 414 431 +2.8% +3.9% +3.6% The global lottery industry has grown consistently through macroeconomic uncertainty, with steady mid- single digit annual growth projected ahead Global lottery sales actuals and projections(1) (2007 – 2028, $B) (1) H2GC projections (2) Facilities Management contracts typically require the Company to design, install, and operate the lottery system and retail terminal network for an initial term, which is typically five to ten years. Operator contracts are B2C arrangements that grant the Company an exclusive license to fully manage the core lottery functions, including the lottery systems and the majority of the day-to-day activities along the lottery value chain. Source: LaFleur and H2GC (4Q25) STABLE AND PREDICTABLE BUSINESS MODEL Lottery industry has demonstrated resiliency during macroeconomic challenges Facilities Management (FM) and iLottery platform contracts (the majority of Brightstar contracts) are exclusive during contract term MARKET OPPORTUNITY Exclusive & long- lasting customer relationships Long-term contracts Stringent requirements for contracts Strong, predictable revenue & cash flow streams FM and Operating contracts(2) are typically 7-10 years, with options for multiple extensions Significant credentials, proven capabilities, and CapEx required to secure contracts Most contracts remunerate vendors as a % of sales (or GGR), supporting consistent cash generation 289 318 333 +7.3%
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7 Brightstar is well positioned to maintain largest contracts, with significant opportunities for incremental growth 60% 11% 29% >70% of Brightstar FM & Operator contract sales secured or with extensions possible beyond 2028 ~97% of U.S. FM and Italy Operator contracts have been retained over the past 15 years(1) OUR CORE (1) Calculated based on lottery sales at contract year end ; data as of October 2025 KEY LEVERS TO GROW OUR CORE BUSINESS Focus on ~$12B+ in sales owned by competitors up for rebid by 2028, especially outside the U.S.; grow market share in international markets, e.g., BrazilShare Expansion Product Innovation & Portfolio Optimization Channel & Touchpoint Expansion Emphasis on continually developing high- performing, engaging games, with innovative payout & pricing strategies Expand into new sales channels and increase ways to play lottery at stores (self-service vending machines, in-lane, LotteryLink) Expiring in 2025-2028 Extension Beyond 2028 Possible Secured Beyond 2028
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8 Attractive global digital market opportunity; Brightstar poised to continue growing market share in platform and content U.S. digital channel is an underpenetrated yet growing market… (1) Excludes states that have passed legislation but iLottery is not active (e.g., MA, MO) and jurisdictions with eSubscription only (i.e., NY, ND) (2) Calculated only including jurisdictions that were fully operational in 2021; data as of October 2025 Sources: Eilers (2Q25 iLottery Report), Brightstar reporting GROWTH ENGINES • Only 14(1) lotteries are live as regulated iLottery markets • More mature lotteries have achieved strong penetration (i.e., 40+%) • 2 lotteries went live in 2025 • 2 additional lotteries expected to go live in 2026 • 4 iLottery platform customers, providing iLottery content in 12 jurisdictions …and Brightstar is well positioned to benefit from this growth • Providing 5 of 14 live iLottery platforms in the U.S. • Provide iLottery content to 4 out of 11 live eInstant U.S. markets • Sales growth in Brightstar jurisdictions significantly higher than overall market expansion(2) • Awarded 2 out of 4 most recent new iLottery platforms Outside the U.S., Brightstar will continue to leverage its significant footprint New Jurisdictions CRM / Player Insights Game Innovation & Portfolio Optimization Platform Enhancements Expansion of Cloud Solutions Leverage FM Customer Relationships GROWTH DRIVERS
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9 iLottery to enable the next stage of Italy’s growth by leveraging extensive retail player base Italy Player Pool (retail & online) Lotto players represent 42% of total Italian players, on any game across retail & digital S&W players represent 75% (1) GGY is wagers less winnings paid to players Sources: Italy sales data based on Brightstar operations Brightstar has proven credentials in running high- growth Italian lottery games • Lotto: 30+ years; secured through 2034 • Scratch & Win: 20+ years; secured through Sept. 2028 • Increased digital market share by 3 percentage points since MyLotteriesPlay launch (Jan.-Sept. 2025) Our right-to-win: Driving increased digital player acquisition • Leveraging extensive player and retailer base (~58K POS units) to drive digital player acquisition • Cross-sell iCasino, Bingo, sports betting (~25% overlap in player base) • Expect digital penetration to be on par with European benchmarks by 2030 Italy is one of the world’s most attractive markets • ~7% 10-year CAGR in total industry wagers, including ~20% digital CAGR • €3.2K+ per capita spend on gaming, among highest in world • Land-based wagers have grown along with digital penetration Italy Digital Penetration Across Categories (% of Total GGY(1), 2025 H1) iLottery Penetration on Total Sales GROWTH ENGINES ~3% ~14% ~17% Italy France Eastern Europe UK & Nordics ~50%+ 9.5M 17.1M Lotto S&W ~29% ~54% iGaming Online Sports Betting
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10 Organic growth expected to accelerate to >5% in 2025-2028 period Core Business (1) iLottery Italy B2C Expansion All Other Organic Growth (CAGR) Impact from Incremental Amortization of Lotto License Fee(2) Revenue Growth (CAGR) ~3% ~1% ~1% <1% >5% ~(2)% >3% Pillars of Brightstar's 3-year CAGR Growth of our predictable core business in the U.S. and Italy Improved regulatory momentum in the U.S., competitive advantage leveraging land-based market leadership New Italy B2C opportunities led by iLottery growth Targeted investments to expand market share in underpenetrated markets (e.g., international, instant ticket printing) Incremental amortization of €1.5 billion over nine-year term (1) Core business includes US, Italy, other ongoing business; excludes U.K. (2) Assuming same accounting treatment as old Lotto concession GROWTH ENGINES
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Operational efficiencies to deliver ~$80M in incremental cost savings while supporting key growth initiatives & upskilling of global workforce ENABLERS 11 → Right-sizing to align smaller footprint post sale of IGT Gaming, with focus on back-office optimizations → Will not impact customer-facing activities or compromise our superior customer service standards → Additional efficiencies targeting indirect costs across main operational areas → Back-end technology modernization, automation / digitalization & AI adoption ~$50M gross annualized savings vs. 2024 OPtiMa Phase 3.1 (2025-2026) ~$30M gross annualized savings vs. 2024 OPtiMa Phase 3.2 (2027-2028) →Structured program to accelerate AI adoption in core processes (e.g., content creation, software development, corporate processes) expected to deliver positive impact on cash costs (Opex and CapEx) in 2028-2030
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12 2025-2028 peak CapEx cycle sets up Brightstar for long-term success ENABLERS → Support accelerated sales growth outlook from low to solid mid-single digit → Build foundations for long-term efficiencies beyond OPtiMa 3.1 and 3.2 programs → Reinforce Brightstar’s unique competitive advantage Average annual CapEx expected to moderate to ~$200-$225M post peak CapEx cycle Expect average annual CapEx of ~$400M for 2025-2028 period Core Cap Ex Investment Evolve our core technology stack to leverage new capabilities (cloud, AI) Set up infrastructure to support new Italy B2C opportunities Contractually required new systems / terminals / communications infrastructure across our portfolio Areas of Incremental Investment Expand number of player touchpoints
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~1,200 ~1,700 ~1,600 ~1,600 ~1,000 ENABLERS • Investment to maintain existing portfolio & pursue new growth initiatives • Target net debt leverage* of ~3.0x; going to ~3.5x temporarily to finance Italy Lotto upfront fee • Enhanced shareholder returns to protect dividend yield → Including consistent-to-growing dividends & significant share repurchases Recent allocation of $4B Gaming & Digital sale proceeds reflects balanced approach Balanced capital allocation philosophy ALLOCATION OF $4.0B GAMING & DIGITAL PROCEEDS ($M) ‘25 – ‘28E $7.1B CUMULATIVE CAPITAL ALLOCATION ($M)(1) *Non-GAAP measure; see disclaimer on page 2 (1) Includes allocation of $4.0B from IGT Gaming sale; Lotto fee reflects BRSL’s 61.5% share of €2.23B amount with EUR/USD at 1.15; cumulative capital allocation and debt reduction exclude unknown Scratch & Win upfront license fee expected in 2028 (2) $400M of General corporate purposes include post-closure transaction costs Note: Figures in charts are rounded 2,000 600 500500 400 Debt Reduction Special dividend Share repurchase Partial Lotto fee funding General corporate purposes(2) Debt reduction & other (excludes Scratch & Win upfront fee) Shareholder returns Lotto fee (BRSL share) CapEx Minority distribution Debt Reduction, Minorities & Other Organic Business Growth Shareholder Returns Debt Reduction Organic Business Growth Shareholder Returns Key pillars of capital allocation philosophy: 13
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Introducing 2028 revenue & profit growth targets highlighting strong cash flow generation & shareholder returns 14 WHY INVEST ~$1.3B 2028 Adjusted EBITDA* >6% CAGR (2025-2028); revenue growth enhanced by OPtiMa savings & other efficiency initiatives ~70% Cash Conversion (AEBITDA to Cash from operations, excluding upfront license fees) ~$2.75B 2028 Revenue >3% CAGR (2025-2028) After 2025-2028 peak CapEx cycle ~$400M+ Annual Free Cash Flow* Before upfront license fees but after minority distributions; implies low-to-mid-teens FCF yield at current share price *A reconciliation of our forward-looking non-GAAP financial measures to the most directly comparable GAAP financial measure cannot be provided without unreasonable effort. This is due to the inherent difficulty of accurately forecasting the occurrence and financial impact of the adjusting items necessary for such a reconciliation to be prepared, for example, the provision for income taxes or net foreign exchange gain/loss, as such items have not yet occurred, are out of our control, or cannot be reasonably predicted.
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15 The future is Brightstar Global Leadership in Large, Growing Industry Growing, Resilient Business with High Contractual Recurring Revenue Significant Tailwind from Broader iLottery Adoption Attractive Profit Profile & Strong, Predictable Cash Flows Balanced Capital Allocation Strategy Includes Increased Capital Returns for Shareholders Current Valuation Provides Compelling Entry Point WHY INVEST
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Appendix 16
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17 Lottery Sales: Steady Growth & Resilience March 2001– Sep 2001 March 2008–June 2009 March 2020– June 2020 0 20 40 60 80 100 Instant Other Draw Keno Multi-state Games Recession U.S. Lottery Industry Sales ($B) BRSL Italy Lottery Sales (€B) June 2001 - Dec 2001 June 2003 – Sep 2003 June 2008 - June 2009 Sep 2011- March 2013 Dec 2019 - June 2020 0 5 10 15 20 25 Lotto Scratch & Win Recession Source: Third-party data & Brightstar internal estimates U.S. CAGRs: 2000-2024: 3.9% 2020-2022: 6.7% 2007- 2024: 3.6% Italy CAGRs: 2000-2024: 4.3% 2020-2022: 13.4% 2007- 2024: 2.3% 05 APPENDIX