Slides
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Third Quarter 2026 Earnings November 5, 2026
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Disclaimer Forward-Looking Statements This presentation contains forward-looking statements as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that involve significant risks and uncertainties. All stateme nts other than statements of historical facts are forward-looking statements, including but not limited to statements relating to ou r financial outlook and the benefits from the acquisition of Legend (the “Transaction”). These forward -looking statements include information about our possible or assumed future results of operations or our performance. Words such as “expects,” “intends, ” “plans,” “believes,” “anticipates,” “estimates,” and variations of such words and similar expressions are intended to identify such forward looking statements. Although we believe that the forward-looking statements contained in this presentation are based on reasonable assumptions, you should be aware that many factors could affect our actual financial results or results of operati ons and could cause actual results to differ materially from those in such forward-looking statements, including but not limited to: the outcome of any legal proceedings related to the Transaction or otherwise, including the risk of shareholder litigation in con nection with the Transaction, including resulting expense; the ability of the Genius to successfully manage legal, tax and regulatory risks relating to the Transaction; difficulties and delays in integrating Legend’s business into that of Genius’ business; failing to fully realize anticipated cost savings and other anticipated benefits of the Transaction when expected or at all; business disrupti ons from the Transaction that will harm Genius’ business, including current plans and operations; potential adverse reactions or changes to business relationships resulting from the completion of the Transaction or our business with prediction markets; t he ability of Genius to retain and hire key personnel; uncertainty as to the long-term value of the ordinary shares of Genius following the Transaction, including the dilution caused by Genius’ issuance of additional shares as earn -out consideration; the continued availability of capital and financing following the Transaction; the effects of global economic, political, market, and socia l events or other conditions; risks related to our reliance on relationships with sports organizations and the potential loss of such rel ationships or failure to renew or expand existing relationships; risks related to our partnerships and business with prediction markets, including providing liquidity on prediction markets, our ability to realize anticipated benefits from these activities and grow related revenue, potential trading or market-making losses, and legal and regulatory uncertainty regarding the treatment of prediction markets, including sports-related event contracts, under applicable gaming, derivatives and other law; fraud, corruption or negligence related to sports events, or by our employees or contracted statisticians; risks related to changes in domestic and foreign l aws and regulations or their interpretation; compliance with applicable data protection and privacy laws; pending litigation and investigations; the failure to protect or enforce our proprietary and intellectual property rights; claims for intellectual p roperty infringement; our reliance on information technology; elevated interest rates and inflationary pressures, including fluctuati ng foreign currency and exchange rates; risks related to domestic and international political and macroeconomic uncertainty; our share repurchase program; and other factors included under the heading “Risk Factors” in our Annual Report on Form 20 -F for the year ended December 31, 2025. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this presentation. Although we believe that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. These statements involve known and unknown risks and are bas ed upon a number of assumptions and estimates which are inherently subject to significant uncertainties and contingencies, many of which are beyond our control. Actual results may differ materially from those expressed or implied by such forward-looking statements. We undertake no obligation to publicly update or revise any forward-looking statements contained in this presentation, or the documents or communications to which we refer readers in this presentation, to reflect any change in our expectations with respect to such statements or any change in events, conditions or circumstances upon which any statement is based. Non-GAAP Financial Measures This presentation includes non-GAAP financial measures not presented in accordance with U.S. GAAP. A reconciliation of the most comparable GAAP measure to its non-GAAP measure is included in the appendix. We present Group adjusted EBITDA, Group adjusted EBITDA margin, Free Cash Flow and Free Cash Flow Conversion, non -GAAP performance measures, to supplement our results presented in accordance with U.S. GAAP. Group Adjusted EBITDA is defined as earnings befo re interest, income tax, depreciation and amortization and other items that are unusual or not related to Genius’ revenue -generating operations, including but not limited to stock-based compensation expense (including related employer payroll taxes), litigation and related costs, lo ss on fair value remeasurement of contingent consideration, expenses incurred on acquisition related employee payments, transaction -related expenses and gain or loss on foreign currency. Group adjusted EBITDA margin is defined as Group adjusted EBITDA as a percentage of Group R evenue. Free Cash Flow is defined as net cash from operating activities less capitalization of internally developed software costs, purcha ses of property and equipment, and purchases of intangible assets. Free Cash Flow conversion is defined as Free Cash Flow as a percentage of Grou p adjusted EBITDA. Group Adjusted EBITDA, Group Adjusted EBITDA Margin, Free Cash Flow and Free Cash Flow Conversion are used by management to e valuate Genius’ core operating performance on a comparable basis and to make strategic decisions. Genius believes these measures are useful to investors for the same reasons as well as in evaluating Genius’ operating performance against competitors, which commonly dis close similar performance measures. However, Genius’ calculation of Group Adjusted EBITDA and Free Cash Flow may not be comparable to other similarly titled performance measures of other companies. These measures are not intended to be a substitute for any US GAAP financial measure. We do not provide a reconciliation of non -GAAP measures on a forward-looking basis because we are unable to forecast certain ite ms required to develop meaningful comparable GAAP financial measures without unreasonable efforts. These items are difficult to predict a nd estimate and are primarily dependent on future events. The impact of these items could be significant to our projections. Trademarks and Trade Names We own or have rights to various trademarks, service marks and trade names that we use in connection with the operation of ou r businesses. This presentation also contains trademarks, service marks and trade names of third parties, which are the property of their respec tive owners. The use or display of third parties’ trademarks, service marks, trade names or products in this presentation is not intended to, and does not imply, a relationship with us or an endorsement or sponsorship by us. Solely for convenience, the trademarks, service marks and trade names referred to in this presentation may appear without the ®, TM or SM symbols, but such references are not intended to indicate, in any way, t hat we will not assert, to the fullest extent under applicable law, their rights or the right of the applicable licensor to these trademarks, service marks and trade names.
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Group Revenue and Adj. EBITDA of $270m and $87m, both above guidance Group Adj. EBITDA Margin of 32%, up 12 percentage points YoY $54m of Free Cash Flow, representing 61% conversion Raised 2026 Group Revenue and Adj. EBITDA guidance to $1.015-1.035b and $287-297m, respectively Q3 Outperformance & Free Cash Flow Key Takeaways Note: Group Adj. EBITDA, Group Adj. EBITDA Margin, Free Cash Flow, and Free Cash Flow Conversion, non -GAAP performance measures, are used to supplement our results presented in accordance with U.S. GAAP. A reconciliation of the most comparable GAAP measu re to its non-GAAP measure is included in the appendix of this presentation. 1Net Revenue Retention for the Q2 cohort is calculated by comparing the total revenue generated by this specific group of cust omers in Q3 against their starting revenue in Q2. This metric includes any Q3 expansions within this group, while subtracting an y Q3 contractions or churn from these same customers, strictly excluding any new revenue from customers acquired during Q3. | 3 33% YoY growth in Betting revenue Strong start to NFL season, including nearly 50% In-Play GGR growth Generating revenue from 50+ new customers across prediction markets value chain, representing strong TAM expansion (excludes NFL) Contribution from customer acquisition, trading, settlement Reliable Growth From Sports Wagering Revenue synergies contributing to financial outperformance Integration progressing as expected across operations, technology, data Successfully Integrating Legend Moment Engine continuing to gain traction with advertisers 279 new advertisers in Q3 224% Net Revenue Retention in Q3 vs. Q21 Growing Advertiser Adoption
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Consistent & Predictable Betting Revenue | 4 41% 29% 28% 29% 33% 28% 33% Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 YoY Betting Revenue Growth Since 2025 ✓ Fixed Minimum Guarantees ✓ Contractual Price Escalators ✓ Product Cross-Sell ✓ Successful Contract Renewals ✓ In-Play GGR Growth ✓ Prediction Markets Expansion
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Monetizing the Prediction Markets Value Chain Customer Acquisition Trading & Liquidity Settlement Genius Sports Generates Revenue From 50+ New Customers as Activity Flows Through the Ecosystem | 5 01 02 03 Genius Sports and Legend help prediction market platforms acquire high-value customers… Genius Sports supplies real-time official data to institutional market makers who provide trading liquidity… Genius Sports provides real-time official data to exchanges for fast and accurate trade settlement.
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Expanding Advertiser Partnerships Beyond Gaming | 6 224% Net Revenue Retention in Q3 vs. Q2 174 279 Q1 2026 Q2 2026 Q3 2026 Number of New Advertisers Moment Engine Launch Note: Net Revenue Retention for the Q2 cohort is calculated by comparing the total revenue generated by this specific group of customers in Q3 against their starting revenue in Q2. This metric includes any Q3 expansions within this group, while subtracting any Q3 contractions or churn from these same customers, strictly excluding any new revenue from customers acquired during Q3.
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GeniusIQ Creates New Sponsorship Opportunities for Brands | 7
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Q3 Results Exceeded Expectations | 8 $85 $260 $87 $270 Group Adj. EBITDA Group Revenue Q3 Results vs. Guidance ($m) Actual Guidance YoY Betting Revenue Growth +33% YoY Media Revenue Growth +126% Flowthrough to Adj. EBITDA YoY 51% Group Adj. EBITDA Margin, up 1,190bps YoY 32% Note: Group Adj. EBITDA and Group Adj. EBITDA Margin, non-GAAP performance measures, are used to supplement our results presented in accordance with U.S. GAAP. A reconciliation of the most comparable GAAP measure to its non-GAAP measure is included in the appendix of this presentation.
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Strong Free Cash Flow Growth YoY | 9 Note: Free Cash Flow and Free Cash Flow Conversion, non-GAAP performance measures, are used to supplement our results presented in accordance with U.S. GAAP. A reconciliation of the most comparable GAAP measure to its non-GAAP measure is included in the appendix of this presentation. $27 $79 Operating Cash Flow ($m) $3 $54 Free Cash Flow ($m) Q3 2025 Q3 2026 10% 61% Free Cash Flow Conversion +192% +1,530%
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Raising 2026 Guidance | 10 Note: Group Adj. EBITDA, Group Adj. EBITDA Margin, Free Cash Flow, and Free Cash Flow Conversion, non-GAAP performance measures, are used to supplement our results presented in accordance with U.S. GAAP. A reconciliation of the most comparable GAAP measure to its non-GAAP measure is included in the appendix of this presentation. $1.015-1.035B Group Revenue $287-297M Group Adj. EBITDA 28.5% Group Adj. EBITDA Margin at Midpoint >$100M Free Cash Flow in 2H 2026
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Q&A
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Appendix
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Q3 P&L & Group Adj. EBITDA Reconciliation Condensed Consolidated Statements of Operations (Unaudited, amounts in thousands, except share and per share data) Reconciliation of U.S. GAAP Net loss to Group Adjusted EBITDA (Unaudited, amounts in thousands) Three Months Ended September 30, 2026 2025 Revenue $ 269,864 $ 166,283 Cost of revenue 177,839 124,963 Gross profit 92,025 41,320 Operating expenses: Sales and marketing 19,149 13,645 Research and development 10,218 4,943 General and administrative 51,758 45,670 Transaction-related expenses 477 2,667 Total operating expense 81,602 66,925 Income (loss) from operations 10,423 (25,605) Interest expense, net (19,093) (138) (Loss) gain on disposal of assets (2) 39 Loss on fair value remeasurement of contingent consideration (1,143) - Loss on foreign currency (571) (7,519) Total other expense (20,809) (7,618) Loss before income taxes and gain from equity method investment (10,386) (33,223) Income tax (expense) benefit (7,054) 2,592 Gain from equity method investment 1,740 1,817 Net loss $ (15,700) $ (28,814) Loss per share attributable to common stockholders: Basic and diluted $ (0.06) $ (0.11) Weighted average common stock outstanding: Basic and diluted 282,364,948 257,661,292 Three Months Ended September 30, 2026 2025 Consolidated net loss $ (15,700) $ (28,814) Adjusted for: Net, interest expense 19,093 138 Income tax expense (benefit) 7,054 (2,592) Amortization of acquired intangibles (1) 13,876 2,572 Other depreciation and amortization (2) 21,752 16,519 Stock-based compensation (3) 15,206 25,863 Transaction-related expenses (4) 477 2,667 Litigation and related costs (5) 16,069 9,598 Loss on fair value remeasurement of contingent consideration 1,143 - Loss on foreign currency 571 7,519 Expenses incurred related to acquisition related employee payments(6) 5,255 - Other (7) 2,344 518 Group Adjusted EBITDA $ 87,140 $ 33,988 | 13 (1) Includes amortization of intangible assets generated through business acquisitions (inclusive of amortization for marketing products, acquired technology, and historical data rights related to the acquisition of a majority interest in Genius in 2018). (2) Includes depreciation of Genius’ property and equipment, amortization of contract costs, and amortization of internally developed software and other intangible assets. Excludes amortization of intangible assets generated through business acquisitions. (3) Includes stock options, equity-settled restricted share units, cash-settled restricted share units and equity-settled performance-based restricted share units granted to employees and directors (including related employer payroll taxes) and equity-classified non-employee awards issued to suppliers. (4) Includes non-recurring advisory, legal, accounting, valuation, and other professional or consulting fees in connection with Genius’ corporate development activities, as well as integration expenses related to acquisitions. (5) Includes litigation and related costs incurred by the Company relating to discrete and non-routine legal proceedings that are not part of the normal operations of the Company’s business. For the three months ended September 30, 2026, legal proceedings included Sportscastr litigation, dMY litigation, Sage & Thompson litigation and Volleystation litigation (as described in Note 16 – Commitments and Contingencies). For the three months ended September 30, 2025, legal proceedings included Sportscastr litigation and dMY litigation. All other legal proceedings are expensed as part of our on-going operations and included in general and administrative expenses. (6) Includes compensation expense from Legend’s historic LTIP awards settled upon the acquisition, and similar acquisition-related employee compensation costs (7) Includes severance costs, tax penalties, and gain/loss on disposal of assets.
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YTD P&L & Group Adj. EBITDA Reconciliation Condensed Consolidated Statements of Operations (Unaudited, amounts in thousands, except share and per share data) Reconciliation of U.S. GAAP Net loss to Group Adjusted EBITDA (Unaudited, amounts in thousands) Nine Months Ended September 30, 2026 2025 Revenue $ 653,319 $ 428,993 Cost of revenue 454,183 343,584 Gross profit 199,136 85,409 Operating expenses: Sales and marketing 50,324 39,357 Research and development 35,005 22,615 General and administrative 165,210 144,705 Transaction-related expenses 36,904 5,452 Total operating expense 287,443 212,129 Loss from operations (88,307) (126,720) Interest (expense) income, net (33,836) 855 (Loss) gain on disposal of assets (89) 26 Loss on fair value remeasurement of contingent consideration (9,143) - Impairment of equity method investment (1,735) - (Loss) gain on foreign currency (10,232) 31,722 Total other (expense) income (55,035) 32,603 Loss before income taxes and gain from equity method investment (143,342) (94,117) Income tax (expense) benefit (7,310) 302 Gain from equity method investment 2,751 2,855 Net loss $ (147,901) $ (90,960) Loss per share attributable to common stockholders: Basic and diluted $ (0.53) $ (0.36) Weighted average common stock outstanding: Basic and diluted 276,931,089 253,138,423 Nine Months Ended September 30, 2026 2025 Consolidated net loss $ (147,901) $ (90,960) Adjusted for: Net, interest expense (income) 33,836 (855) Income tax expense (benefit) 7,310 (302) Amortization of acquired intangibles (1) 30,144 6,936 Other depreciation and amortization (2) 59,788 44,581 Stock-based compensation (3) 71,331 128,166 Transaction-related expenses (4) 36,904 5,452 Litigation and related costs (5) 24,507 23,513 Loss on fair value remeasurement of contingent consideration 9,143 - Impairment of equity method investment 1,735 - Loss (gain) on foreign currency 10,232 (31,722) Expenses incurred related to acquisition related employee payments(6) 20,733 - Other (7) 5,960 3,104 Group Adjusted EBITDA $ 163,722 $ 87,913 (1) Includes amortization of intangible assets generated through business acquisitions (inclusive of amortization for marketing products, acquired technology, and historical data rights related to the acquisition of a majority interest in Genius in 2018). (2) Includes depreciation of Genius’ property and equipment, amortization of contract costs, and amortization of internally developed software and other intangible assets. Excludes amortization of intangible assets generated through business acquisitions. (3) Includes stock options, equity-settled restricted share units, cash-settled restricted share units and equity-settled performance-based restricted share units granted to employees and directors (including related employer payroll taxes) and equity-classified non-employee awards issued to suppliers. (4) Includes non-recurring advisory, legal, accounting, valuation, and other professional or consulting fees in connection with Genius’ corporate development activities, as well as integration expenses related to acquisitions. (5) Includes litigation and related costs incurred by the Company relating to discrete and non-routine legal proceedings that are not part of the normal operations of the Company’s business. For the nine months ended September 30, 2026, legal proceedings included Sportscastr litigation, dMY litigation, Sage & Thompson litigation and Volleystation litigation (as described in Note 16 – Commitments and Contingencies). For the nine months ended September 30, 2025, legal proceedings included Sportscastr litigation and dMY litigation. All other legal proceedings are expensed as part of our on-going operations and included in general and administrative expenses. (6) Includes compensation expense from Legend’s historic LTIP awards settled upon the acquisition, and similar acquisition-related employee compensation costs (7) Includes severance costs, tax penalties, and gain/loss on disposal of assets. | 14
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Free Cash Flow and Unlevered Free Cash Flow Reconciliation Genius Sports Limited Reconciliation of U.S. GAAP Net cash (used in) provided by operating activities to Free Cash Flow and Unlevered Free Cash Flow (Unaudited) (Amounts in thousands) | 15 Three Months Ended September 30, Nine Months Ended September 30, 2026 2025 2026 2025 (dollars, in thousands) Net cash (used in) provided by operating activities $ 79,369 $ 27,204 $ (67,869) $ (2,559) Adjusted for: Capitalization of internally developed software costs (20,695) (15,852) (49,934) (44,666) Purchases of property and equipment (5,100) (7,256) (16,600) (15,653) Purchases of intangible assets (3) (810) (1,787) (1,259) Free Cash Flow $ 53,571 $ 3,286 $ (136,190 ) $ (64,137) Cash paid during the period for interest 15,859 994 19,894 2,624 Unlevered Free Cash Flow $ 69,430 $ 4,280 $ (116,296 ) $ (61,513)
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Reconciliation of GAAP Expenses to non-GAAP Expenses (a) Amortization of acquired intangibles; (b) Other depreciation & amortization; (c) Stock-based compensation (including related employer payroll taxes); (d) Transaction expenses; (e) Non-routine litigation and related costs; (f) Expenses incurred related to acquisition related employee payments; (g) Other | 16 September 30, 2026 June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 December 31, 2025 December 31, 2024 GAAP Operating Expenses Cost of revenue 177,839$ 131,716$ 144,628$ 172,063$ 124,963$ 109,832$ 108,789$ 128,081$ 80,116$ 515,647$ 382,187$ Sales and marketing 19,149 17,506 13,669 16,805 13,645 14,299 11,413 9,880 9,455 56,162 37,411 Research and development 10,218 13,385 11,402 8,472 4,943 8,726 8,946 4,893 5,848 31,087 24,576 General and administrative 51,758 59,537 53,915 63,267 45,670 64,500 34,535 40,156 30,403 207,972 123,011 Transaction-related expenses 477 28,924 7,503 4,497 2,667 2,053 732 (278) 432 9,949 2,246 Total Operating Expenses 259,441$ 251,068$ 231,117$ 265,104$ 191,888$ 199,410$ 164,415$ 182,732$ 126,254$ 820,817$ 569,431$ Non-GAAP Operating Expense Adjustments Cost of revenue (a) (13,876) (13,543) (2,725) (2,517) (2,572) (2,182) (2,182) (2,183) (2,725) (9,453) (24,136) (b) (19,956) (17,531) (17,576) (16,711) (15,715) (12,644) (13,623) (12,651) (12,040) (58,693) (46,135) (c) (4,312) (4,280) (4,210) (4,299) (4,306) (43,919) (102) (124) (144) (52,626) (618) (f) (2,307) (6,059) - - - - - - - - - (g) (68) - - 2 (31) (92) (254) (69) (8) (375) (77) Sales and marketing (b) (492) (445) (434) (458) (419) (448) (416) (417) (404) (1,741) (1,576) (c) (366) (1,784) (1,806) (2,027) (1,965) (3,633) (2,109) (1,037) (997) (9,734) (4,379) (f) (1,275) (1,397) - - - - - - - - - (g) 2,159 (2,160) - (1,594) (129) (251) (402) 545 (1) (2,376) 545 Research and development (b) 78 (1,050) (424) (560) (225) (216) (416) (327) (377) (1,417) (1,486) (c) 1,324 (834) (1,999) (2,049) (2,532) (3,528) (2,703) (1,707) (1,390) (10,812) (6,247) (f) (547) (2,203) - - - - - - - - - (g) (101) (27) (296) - (223) (211) (859) (225) (4) (1,293) (290) General and administrative (b) (1,382) (416) (160) (182) (160) (178) (121) (127) (125) (641) (519) (c) (11,852) (18,323) (22,889) (23,952) (17,060) (33,911) (12,398) (18,230) (6,791) (87,321) (44,413) (e) (16,069) (2,401) (6,037) (13,273) (9,598) (10,547) (3,368) (1,932) (3,295) (36,786) (7,575) (f) (1,126) (5,819) - - - - - - - - - (g) (4,332) (1) (1,045) (25) (174) (84) (420) (380) (922) (703) (1,397) Transaction-related expenses (d) (477) (28,924) (7,503) (4,497) (2,667) (2,053) (732) 278 (432) (9,949) (2,246) Total Operating Expense Adjustments (74,977)$ (107,197)$ (67,104)$ (72,142)$ (57,776)$ (113,897)$ (40,105)$ (38,586)$ (29,655)$ (283,920)$ (140,549)$ Non-GAAP Operating Expenses Cost of revenue 137,320 90,303 120,117 148,538 102,339 50,995 92,628 113,054 65,199 394,500 311,221 Sales and marketing 19,175 11,720 11,429 12,726 11,132 9,967 8,486 8,971 8,053 42,311 32,001 Research and development 10,972 9,271 8,683 5,863 1,963 4,771 4,968 2,634 4,077 17,565 16,553 General and administrative 16,997 32,577 23,784 25,835 18,678 19,780 18,228 19,487 19,270 82,521 69,107 Transaction-related expenses - - - - - - - - - - - Total Operating Expenses 184,464$ 143,871$ 164,013$ 192,962$ 134,112$ 85,513$ 124,310$ 144,146$ 96,599$ 536,897$ 428,882$ Year EndedThree Months Ended
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GENI Share Count Build Total Capitalization (shares in millions) As of September 30, 2026 Ordinary shares outstanding 267.9 Additional Securities NFL Enterprises LLC vested Warrants1 14.5 NFL Enterprises LLC unvested Warrants1 5.0 Unvested equity-settled RSUs and PSUs2 24.0 Total Additional Securities 43.5 Fully Diluted Ordinary Shares Outstanding 311.4 1 Pursuant to the License Agreement dated April 1, 2021, the Company agreed to issue the NFL an aggregate of up to 18,500,000, which were fully vested as of April 1, 2023. The NFL exercised 4,000,000 warrants in the first quarter ended March 31, 2025, and 4,500,000 warrants in the fourth quarter ended December 31, 2025. On June 6, 2025, the Company extended the License Agreement through the end of the 2029 NFL season. Pursuant to the extended License Agreement, the Company issued the NFL an additional 9,500,000 warrants with each warrant entitling NFL to purchase one ordinary share of the Company for an exercise price of $0.01 per warrant share. Of such additional warrants, 4,500,000 warrants vested on June 10, 2025, and 5,000,000 will vest on April 1, 2028, unless delayed at the sole discretion of the NFL to no later than August 2, 2029. 2 Includes 1) Equity-settled Restricted Share Units (“RSUs”), 2) Cash-settled Restricted Share Units (“Cash-settled RSUs”) and 3) Equity-settled Performance-Based Restricted Share Units (“PSUs”) as part of the 2022, 2023, 2024, 2025 and 2026 Employee Incentive Plans. | 17