Slides
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3Q’26 Results Presentation November 4, 2026
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Disclaimer Safe Harbor Statement This presentation contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Studio City International Holdings Limited (the “Company”) may also make forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. These factors include, but are not limited to, (i) changes in the gaming market and visitations in Macau, (ii) local and global economic conditions, (iii) capital and credit market volatility, (iv) our anticipated growth strategies, (v) risks associated with the implementation of the amended Macau gaming law by the Macau government, (vi) gaming authority and other governmental approvals and regulations, and (vii) our future business development, results of operations and financial condition. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the SEC. All information provided in this presentation is as of the date of this presentation, and the Company undertakes no duty to update such information, except as required under applicable law. This presentation contains non-GAAP financial measures and ratios that are not required by, or presented in accordance with, U.S. GAAP, including Adjusted EBITDA. The non-GAAP financial measures may not be comparable to other similarly titled measures of other companies since they are not uniformly defined and have limitations as analytical tools and should not be considered in isolation or as a substitute for U.S. GAAP measures. Non-GAAP financial measures and ratios are not measurements of our performance under U.S. GAAP and should not be considered as alternatives to any performance measures derived in accordance with U.S. GAAP or any other generally accepted accounting principles. Reconciliations of such non-GAAP financial measures and ratios to their most directly comparable financial measures and ratios are included in our earnings releases that have been furnished with the SEC and are also available on our Investor Relations website at https://ir.studiocity-macau.com/.
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Summary Financials Notes: 1. The Adjusted EBITDA of Studio City contained in the Studio City International Holdings press release includes certain interco mpany charges that are not included in the Adjusted EBITDA for Studio City contained in Melco Resorts’ earnings release. Such intercompany charges include, among other items, fees and shared service charges billed betwe en the Company and its subsidiaries and certain subsidiaries of Melco Resorts. Additionally, Adjusted EBITDA of Studio City included in Melco Resorts’ earnings release does not reflect certain gaming concession related costs and certain intercompany costs related to the gaming operations at Studio City Casino. 2. “Adjusted EBITDA” is net income/loss before interest, taxes, depreciation, amortization, pre-opening costs, property charges and other, and other non-operating income and expenses. (US$ millions) Sep’26 Sep’25 % Change Total Operating Revenues 163 183 -10.5% Revenue from casino contract 67 77 -13.4% Non-Gaming 96 105 -8.4% Total Operating Costs & Expenses (149) (159) 6.3% Operating Income 15 24 -38.7% Total Non-Operating Expenses, Net (27) (41) 33.1% Net Loss (14) (20) 29.2% Adjusted EBITDA(1)(2) 66 78 -16.1% 3 months ended
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Studio City International Holdings Total Operating Revenues and Studio City Casino Gross Gaming Revenue (US$ million) Studio City Adjusted EBITDA Breakdown (Trailing 12 Months, US$ million)(1)(2) Revenue and Adjusted EBITDA – 3Q’26 Notes: 1. The Adjusted EBITDA of Studio City contained in the Studio City International Holdings press release includes certain interco mpany charges that are not included in the Adjusted EBITDA for Studio City contained in Melco Resorts’ earnings release. Such intercompany charges include, among other items, fees and shared service charges billed betwe en the Company and its subsidiaries and certain subsidiaries of Melco Resorts. Additionally, Adjusted EBITDA of Studio City included in Melco Resorts’ earnings release does not reflect certain gaming concession related costs and certain intercompany costs related to the gaming operations at Studio City Casino. 2. “Adjusted EBITDA” is net income/loss before interest, taxes, depreciation, amortization, pre-opening costs, property charges and other, and other non-operating income and expenses. 344.4 342.7 373.5 357.7 320.9 182.5 160.3 176.7 164.6 163.3 0 50 100 150 200 250 300 350 400 3Q'25 4Q'25 1Q'26 2Q'26 3Q'26 Studio City Casino Gross Gaming Revenue SCIH Total Operating Revenues 281 285 295 285 273 107 109 114 113 112 388 394 408 399 384 - 50 100 150 200 250 300 350 400 450 3Q'25 4Q'25 1Q'26 2Q'26 3Q'26 Intercompany charges paid to Melco Resorts Studio City International Holdings Adjusted EBITDA
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Adjusted EBITDA (US$ million)(1)(2)(3) Studio City Key Operating Metrics Key Operating Metrics – 3Q’26 Notes: 1. The Adjusted EBITDA of Studio City contained in the Studio City International Holdings press release includes certain interco mpany charges that are not included in the Adjusted EBITDA for Studio City contained in Melco Resorts’ earnings release. Such intercompany charges include, among other items, fees and shared service charges billed betwe en the Company and its subsidiaries and certain subsidiaries of Melco Resorts. Additionally, Adjusted EBITDA of Studio City included in Melco Resorts’ earnings release does not reflect certain gaming concession related costs and certain intercompany costs related to the gaming operations at Studio City Casino. 2. “Adjusted EBITDA” is net income/loss before interest, taxes, depreciation, amortization, pre-opening costs, property charges and other, and other non-operating income and expenses. 3. Adjusted EBITDA margin is Adjusted EBITDA divided by total operating revenues (US$m, unless otherwise stated) 3Q’26 Vs. 2Q’26 Vs. 3Q’25 Mass Table Drop 846 (4%) (10%) Mass Table Hold (%) 34.3% (203 bps) 112 bps Mass GGR 290 (10%) (7%) Slots GGR 31 (16%) (4%) Total GGR 321 (10%) (7%) Total Operating Revenues 163 (1%) (11%) Adjusted EBITDA(1)(2) 66 (2%) (16%) 78.1 60.2 80.0 67.0 65.5 43% 38% 45% 41% 40% 0.0 20.0 40.0 60.0 80.0 100.0 120.0 3Q'25 4Q'25 1Q'26 2Q'26 3Q'26 Adjusted EBITDA Adjusted EBITDA margin
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Balance Sheet Debt Maturity Profile as of September 30, 2026 (US$ million) Liquidity and Debt Positions as of September 30, 2026 (US$ million)(1) Note: 1. Total Cash is calculated by summation of cash, cash equivalents and restricted cash and Net Debt is calculated by deducting T otal Cash from Gross Debt (1) (1) 98 58 156 Total Cash Availability under Revolving Credit Facilities Total Liquidity Liquidity (1) 2,062 2,030 2,020 1,985 1,955 1,857 98 3Q'25 4Q'25 1Q'26 2Q'26 Gross Debt Total Cash Net Debt Debt 3Q'26 335 1,320 300 200 400 600 800 1,000 1,200 1,400 2026 2027 2028 2029 2030 2031 (1) (1)
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Appendices
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Studio City Event Center Indoor Waterpark Add photo of Epic room Epic Tower Room
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Thank You