Slides
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Investor Presentation - October 2026 -
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Forward-Looking Statements This presentation contains “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, statements regarding the estimated future financial performance, financial position and guidance, the business strategy, plans and objectives of management for future operations, potential market access in various jurisdictions, expectations around partnership and commercial ventures, and estimated potential market size and total addressable market. Such statements can be identified by the fact that they do not relate strictly to historical or current facts. When used in this presentation, words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “pro forma,” “project,” “should,” “strive,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. When RSI discusses its strategies or plans, it is making projections, forecasts and forward-looking statements. Such statements are based on the beliefs of, as well as assumptions made by and information currently available to, RSI’s management. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside of RSI's control and are difficult to predict. Factors that may cause such differences include, but are not limited to (1) changes in or adverse conditions contained in applicable laws or regulations, including applicable gaming laws and regulations, applicable taxes and tax rates; (2) unanticipated product or service delays; (3) the ability to maintain the listing of RSI’s securities on the NYSE or another exchange; (4) the ability to recognize the anticipated benefits of the previously consummated business combination with dMY Technology Group, Inc., which may be affected by, among other things, competition, the ability of RSI to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (5) complexities related to RSI’s corporate structure and history; (6) the possibility that RSI may be adversely affected by other economic, business, and/or competitive factors, such as foreign exchange, inflation and interest rates or an economic downturn; and (7) other risks and uncertainties indicated from time to time in RSI’s most recently annual report on Form 10-K, including those under “Risk Factors” therein, and in RSI’s other documents filed or to be filed with the U.S. Securities and Exchange Commission (“SEC”). You are cautioned not to place undue reliance upon any forward-looking statements. Forward-looking statements included in this presentation speak only as of the date hereof. RSI does not undertake any obligation to update its forward-looking statements to reflect events or circumstances after the date hereof, except as required by law. Additional risks and uncertainties are identified and discussed in RSI’s reports filed with the SEC. Use of Projections This presentation contains financial forecasts. RSI’s independent auditors have not studied, reviewed, compiled or performed any procedures with respect to the projections for the purpose of their inclusion in this presentation, and accordingly, they have not expressed an opinion or provided any form of assurance with respect thereto for the purpose of this presentation. These projections are for illustrative purposes only and should not be relied upon as being necessarily indicative of future results. In this presentation, certain of the above-mentioned projected information has been provided for purposes of providing comparisons with historical data. The assumptions and estimates underlying the prospective financial information are inherently uncertain and are subject to a wide variety of significant business, economic and competitive risks and uncertainties that could cause actual results to differ materially from those contained in the prospective financial information. Projections are inherently uncertain due to a number of factors outside of RSI’s control. Accordingly, there can be no assurance that the prospective results are indicative of RSI’s future performance or that actual results will not differ materially from those presented in the prospective financial information. Inclusion of the prospective financial information in this presentation should not be regarded as a representation by any person that the results contained in the prospective financial information will be achieved. Industry & Market Data, Financial Information and Non-GAAP Financial Measures In this presentation, RSI relies on and refers to information and statistics regarding the markets and market participants in the sectors in which RSI competes and other industry data. RSI obtained this information and statistics from third-party sources, including reports by market research firms, information published or made available by regulators and company filings. The financial information contained in this presentation has been taken from or prepared based on the historical financial statements of RSI for the periods presented, some of which may not have been audited or reviewed by RSI’s independent auditors. In addition to providing financial measurements based on accounting principles generally accepted in the United States (“GAAP”), this presentation includes certain financial measures that are not prepared in accordance with GAAP, including Adjusted EBITDA, Adjusted Operating Costs and Expenses, Adjusted Earnings Per Share, Adjusted Net Income and Adjusted Weighted Average Common Shares Outstanding, each of which is a non- GAAP performance measure that RSI uses to supplement its results presented in accordance with GAAP. These non-GAAP financial measures are not intended to be considered in isolation or as a substitute for any GAAP financial measures and, as calculated, may not be comparable to other similarly titled measures of performance of other companies in other industries or within the same industry. See the footnotes on the slides where these measures are discussed and slides 24-27 of the Appendix for a description of these non-GAAP financial measures and any applicable reconciliations of such non-GAAP financial measures to the most comparable GAAP amounts. 2
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Investment Highlights A leading digital operator driven by an online casino-centric strategy, innovative online gaming user experience and seasoned management team1 2 3 4 6 7 5 Extensive market access to future online casino markets across the Americas, with proven ability to launch and scale efficiently in new markets Invested 13+ years developing our proprietary PAM & vertically integrated tech stack to support our differentiated product suite, multi-brand capabilities and automated functionality to provide frictionless customer experiences Strategic positioning in high-growth, higher-margin regulated international markets—including Colombia, Mexico, Ontario, Alberta and Peru—with the expertise and infrastructure to expand into newly regulated LATAM and other global markets Among the industry’s leading online casino platforms with unique player features such as UX personalization, community features, site-wide gamifications tools and RSI’s flagship promotional engine Sustained focus and prioritization on player retention and ROI has resulted in industry leading unit economics and achievement of significantly increasing Adjusted EBITDA profitability Rank in the top 4 operators for net revenue in online casino in the United States 3
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First-time depositors reached the second highest quarterly level, second only to 2Q26. Launched online casino and online sports in Alberta in 3Q26, seeing encouraging early results with FTDs and daily active users up over 2x compared to the Ontario launch on a population-adjusted basis. Company Highlights Financial Highlights 1 Achieved quarterly revenue of $386MM in 3Q26, up 39% Y-o-Y. 2 Reiterated FY26 revenue guidance of $1.56B -$1.60B, and FY26 Adjusted EBITDA guidance of $245MM –$265MM. 3 Increased North American Monthly Active Users (“MAUs”)1 to a record quarterly high of more than 300,000 players in 3Q26 up 34% Y-o-Y while also growing LATAM MAUs2 46% Y-o-Y. 4 Grew Adjusted EBITDA to $62MM in 3Q26, representing 73% Y-o-Y growth and over 16% margins, demonstrating profitability expansion and strengthening operating leverage. 5 Ended the quarter with $382MM in unrestricted cash, up $42MM from 2Q26, even with $14MM in share repurchases made during 3Q26. Business Highlights 1 Continued market leadership in LatAM drove near record net revenue levels across the region in 3Q26. 2 3 Grew Online Casino revenue 32% Y-o-Y and OSB revenue 70% Y-o-Y. 4 5 New player engagement from the World Cup resulted in higher player values relative to the Copa America and stronger cross-sell into online casino. (1) Based on MAUs and revenue from North America-based (U.S. & Canada) users of our real-money online offerings only. (2) Based on MAUs and revenue from Colombia, Mexico & Peru-based users of our real-money online offerings only. 4
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RSI benefits from a larger potential TAM than most competitors due to international operations in both Latin America and Canada, broad market access in key states, and mutually beneficial partnerships with Tribes and Lotteries Market Access Partner of Choice ~$166.7bn Total Addressable Market United States1 Canada2 Latin America2,3 OSB iCasino Total Addressable Market at Maturity ~$97.7bn ~$7.3bn ~$12.0bn ~$36.7bn ~$1.5bn ~$11.6bn Source: Eilers & Krejcik Outlook, H2 Gambling Capital. (1) E&K U.S. Sports Betting And Online Casino Outlook – March 2026. Does not include Poker. (2) H2GC 2028 total interactive TAM from October 2026 report and management estimates shown in USD and are inclusive of both interactive onshore and offshore. OSB excludes Horseracing; iCasino excludes Bingo, Skill, and State Lotteries. Launched online casino and online sports betting in Alberta in July 2026. (3) Includes Latin America, Mexico and the Caribbean. RSI’s Market Access Creates Growth Opportunity and Paves the Way for iCasino 5 iCasino + OSB Live OSB Live
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12% 61% 88% 39% iCasino Online Sports Betting Source: Eilers & Krejcik Outlook, H2 Gambling Capital. (1) RSI operates 3 different brands in DE. (2) E&K Generic All-In Model as of March 2026. Does not include Poker. (3) H2GC iCasino TAM, as of October 2026, inclusive of both onshore and offshore, and management estimates. (4) Per Eilers & Krejcik and management estimates. Key Positioning in iCasino Markets RSI is a top tier operator in all visible iCasino markets, operating in as many states as any other operator in the U.S. iCasino Markets iCasino TAM 2,3 Pennsylvania $4.1bn #4 of 16 operators Positioning 4 West Virginia $364MM #4 of 9 operators Michigan $2.8bn #4 of 15 operators New Jersey $3.2bn #9 of 27 operators % of U.S. Adult Population in iCasino and OSB Markets Current Adult Population Legislated to Play Adult Population Available for Future Legislation 6 Mexico $2.6bn 3 Top 5 of >50 operators Colombia $390MM 3 #2 of 14 operators Ontario $4.0bn 3 NA Delaware1 $278MM Exclusive Operator Peru $410MM 3 NA Alberta $1.3bn 3 NA
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Population: 214MM GDP per capita: $10.8k BRAZIL Source: World Population Review 2026, IMF 2025. (1) H2GC 2028 total interactive TAM from October 2026 report and management estimates shown in USD and are inclusive of both interactive onshore and offshore. OSB excludes Horseracing; iCasino excludes Bingo, Skill, and State Lotteries. Potential Expansion Existing Core Markets Core RSI Markets Expansion Opportunities Latin America ~$23.6bn 2028E TAM(1) Beachhead to Grow New Markets in LATAM Population: 18MM GDP per capita: $6.9k ECUADOR Population: 133MM GDP per capita: $13.6k Regulatory Status: iCasino and OSB regulated MEXICO Population: 54MM GDP per capita: $7.9k Regulatory Status: iCasino and OSB regulated COLOMBIA Population: 46MM GDP per capita: $12.1k Argentina Population: 20MM GDP per capita: $17.9k Chile Population: 35MM GDP per capita: $8.6k Regulatory Status: iCasino and OSB regulated PERU 7
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Scalable Platform Proven to Increase Retention and Player Values •Modern end-to-end technology stack with modular architecture & components •Single code base updated bi-weekly (RMG & social) •Flexible deployments (physical, cloud-based and hybrid) •Operationalized technology continuously improved to deliver efficient conversion and retention results ROBUST, SCALABLE ARCHITECTURE •Real-time engine to deliver personalized bonuses •Unique-to-industry gamified reinvestment programs •Complete suite of marketing tools, including bonusing, CRM and loyalty •Proprietary bonus bank wallet and bonus store allows players to self-manage bonuses & redeem loyalty points for real-world & fun digital prizes BONUSING, CRM & LOYALTY 8 •Deep integration experience & ability to connect efficiently with 3rd party systems / databases •Library of >11,000 games from 110+ game studios •Operational integrations include payments, KYC, geolocation, B.I./analytics, AdTech, push messaging, land-based Casino management & cashier systems, sports data/stats/streaming INTEGRATION-FRIENDLY •Best-in-class RG gaming tools including non-cancellable withdraw and refund processes, in-game messaging, limits and self-exclusion •First U.S.-based operator to implement a real-time RG monitoring system to analyze player behavior •First U.S. operator to receive the respected Responsible Gaming Counsel accreditation •Full automated reporting for customers REGULATORY COMPLIANCE & RESPONSIBLE GAMING (“RG”) •Demonstrated success operating multi-brands in the same markets (i.e., bonus abuse protections) •Platform supports iCasino, sports, social and poker •Multi-language, multi-currency offering allows for swift expansion to new markets •Platform licensed in 20 jurisdictions MULTI-BRAND, MULTI-VERTICAL & MULTI-JDX •Heavy investment in automation delivers enhanced verification and conversion rates & speed to deal efficiently with the most stringent jurisdictions •Enhanced KYC functionalities & features to enable self- verifications •Sophisticated fraud tools; industry leading chargeback rates WALLET, FRAUD & RISK MANAGEMENT 8
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Proprietary Promotional Games with Leading Third-party Content Breadth and Quality of Content Offering market leading quality and selection •Frequently first to market with new game studios and hit games; 11,000+ games from 110+ game studios •Bespoke features built on top of game library drive differentiation •Optimized for a consistent user experience Promotional Free-to-play Bingo Platform Increase retention by rewarding brand loyalty •Seamless integration into the casino vertical •Increased retention by offering players fun and unexpected chances to win •Reward player loyalty by awarding prizes based on loyalty status 11,000+110+ 9
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RSI’s iCasino Product Improves Player Experience through Community Engagement Multi-player Online Casino Tournaments Increase engagement through competitions •Free-to-play tournament system supports a broad range of casino game types •Proprietary, synchronous or asynchronous platform with a fully integrated registration and awards system •Tournament scheduler and real-time leaderboards P2P Community Moderator Chat Increased engagement through connectivity •Accessible chatrooms available 24/7 – foster connections between players and brand moderators •Integrated seamlessly into a big win newsfeed with player profiles, emojis and avatars – extra context for increased engagement 10
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iCasino Delivering Exceptional Growth in Delaware Since exclusive state operator takeover in late Dec ‘23, RSI has demonstrated aggressive growth with strategic mix of proprietary product features, land-based partnerships, and bespoke advertising approach. Highlights: $176MM iCasino Gross Gaming Revenue in last 12 months Compared to $15.1MM GGR for previous operator in its last 12 months. 37% YoY iCasino GGR Growth in Q3 Proprietary Features Drive Session Length + Retention 11 Online Sportsbook Success Including Cross-Sell Across Verticals OSB GGR in 3Q26 is up 28% YoY. $0 $5 $10 $15 $20 $25 $30 $35 $40 $45 $50 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 DE – Quarterly iCasino GGR Previous Operator RSI 20262023 2024 2025 MILLION
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Sportsbook Promotional Features BetRivers has upped the stakes for sports bettors with exciting gamified betting features on qualifying same game parlay bets. BetRivers offers players Squares on qualifying football and basketball bets, and for the NBA and MLB, our PropPacks promotion – both games offer players a chance to win jackpots in bonus credits! How the Promotions Work: Earning Bonuses on Qualifying SGP Bets Earning a square for Football matchups or up to 3 player prop cards on NBA matchups. Tiered Prizing Structure for Bigger Payouts Higher threshold wagers will unlock greater prizes including the top prizes in bonus credits. A Proven Tie-Breaker for Sports Bettors These gamified experiences provide incremental value to the sports bettor, separating BetRivers from the competitive landscape. 12
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BetRivers Poker Multi-State Presence A truly unique player-first proprietary poker platform designed by poker players for poker players, with an emphasis on fairness, excitement, and generous rewards for all skill levels. BetRivers Poker offers a comprehensive suite of game formats, including cash games, Sit & Go tournaments, and Multi-Table Tournaments (MTTs). Highlights: HOME OF THE VIPs Powered by Phil Galfond and Phil Hellmuth, combining trusted design with unmatched star power to drive credibility, visibility, and engagement. CROSS-SELL INTEGRATION Play mini-casino games from the poker table. One wallet and loyalty program powers seamless rewarded play across poker, casino, and sports. MULTI-STATE LIQUIDITY Live in PA, MI, DE, and WV — with shared liquidity across all four states. 13 RAKEBACK REVOLUTION A loyalty program that delivers real, consistent rewards based on player activity — built to reward play and incentivize cross-vertical exploration. PLAYER-FRIENDLY UI Simplified layout and controls that prioritize ease of use and real-time flow.
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$103 $412 OSB iCasino $2,775 $11,162 OSB iCasino .. •Large cohort of female slot players generates diversification across men and women, increasing TAM •Brand and user experience targets female players as well as more mature and engaged players •Users of iCasino have a GGR that is nearly 4x higher than an OSB-only user •Users of both iCasino and OSB have a GGR that is over 10x higher than an OSB-only user Broader Demographics Better Monetization Larger Market $ 10.4x OSB-only OSB iCasino iCasino + OSB U.S. GGR (TTM) 2 U.S. Yearly Spend per Adult 2,3 3.6x OSB-only GGR by User Type . •iCasino TAM is more than 3x the size of online sports betting in mature markets •Users of iCasino have higher engagement and spend more per year compared to OSB Source: Eilers and Krejcik Online GGR Reports, and management estimates. (1) Information is for US/Canada casino-only players and US/Canada sports betting-only players in markets that offer both online sports and casino (DE, MI, NJ, PA, WV, Ontario & Alberta only), respectively. (2) E&K data as of June 2026 and management estimates, data includes DE, MI, NJ, PA & WV only. (3) TTM GGR divided by adult population in DE, MI, NJ, PA & WV only. (4) iCasino includes slots and tables games excluding poker. 40.0 Average Age per User …And Casino Led Strategy with Attractive Demographics & Unit Economics iCasino Demographic Split 1 Online Sports Betting Demographic Split 1 37.9 Average Age per User 50% of users are women 50% of users are men 16% of users are women 84% of users are men 4 4 14
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The BetRivers Network Enhances User & Brand Engagement •BetRivers Network media personalities, such as sports broadcasting icon Mike Francesa and poker legend Phil Hellmuth, connect with their fans online, in their home fan bases and beyond. •Approximately 70% of Francesa's audience comes from jurisdictions in which RSI operates. •The Mike Francesa Podcast YouTube channel subscribers grew 20% year-over-year as of the end of Q3 2026. •BetRivers’ casino streaming channel on YouTube, BetRivers Players Club, increased its YouTube watch time in Q3 2026 by 79% compared to Q3 2025. •RSI Poker programming on YouTube has seen a 12% increase in subscribers year-over-year as of the end of Q3 2026. •YouTube subscribers to all RSI channels have increased 17% year-over-year as of the end of Q3 2026. •RSI’s Betting Weekly Studios YouTube channel subscribers have increased 31% year-over-year as of the end of Q3 2026. RSI's in-house media outlet produces YouTube-focused content, including must-watch poker, iGaming companion entertainment, expert previews for key betting sports, and local sports shows for fans & bettors alike. Commentary 15
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Strong Player Value & Retention Number of Months Avg LTV for All U.S. & Canada Cohorts Since Inception1 WV(s) ON MX Quarterly Net Revenue by Yearly Cohort ($MM) 2 Launches LA NYPA(s) INPA(c) CO IL IA MI VA WV(c) AZ MD OH •Increasing player value over time – approximately $5,200 after 5+ years1 •Strong retention and new markets expected to drive continued revenue growth (1) RSI Management estimates based on the average LTV of all applicable cohorts since January 2017 presented in monthly increments, as measured from month of first deposit. A cohort represents all U.S. & Canada based FTDs in a particular month that placed at least one bet across one or more of our online casino or online sports betting offerings. (2) Includes online real-money net revenues for the United States, Colombia, Canada, Mexico & Peru. DE 16 PE $0 $500 $1,000 $1,500 $2,000 $2,500 $3,000 $3,500 $4,000 $4,500 $5,000 $5,500 12 24 36 48 60+ $- $50 $100 $150 $200 $250 $300 $350 $400 0% 10% 20% 30% 40% 50% 60% 70% Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 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 Q4'25 Q1'26 Q2'26 Q3'26 2016 - 2019 2020 2021 2022 2023 2024 2025 2026 Marketing % of Revenue ALB
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Mexico Launch Peru Launch Peru Launch Mexico Launch Strong Growth Across Regions Demonstrated history of growing revenues across regions over the long-term from an expanding user base while maintaining strong revenue per user metrics Average Monthly Active Users (“MAUs”) Average Revenue Per Monthly Active User (“ARPMAU”) (1) Based on MAUs and revenue from U.S. & Canada-based users of our online real-money offerings only. (2) Based on MAUs and revenue from Colombia, Mexico & Peru-based users of our online real-money offerings only. North America1 LATAM2 Average Monthly Active Users (“MAUs”) Average Revenue Per Monthly Active User (“ARPMAU”) 17 $0 $25 $50 $75 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 ARPMAU TTM ARPMAU 0 125,000 250,000 375,000 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 Average MAUs TTM Average MAUs $0 $125 $250 $375 $500 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 ARPMAU TTM ARPMAU 0 175,000 350,000 525,000 700,000 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 Average MAUs TTM Average MAUs
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2021 Customer Contacts 775k North American Markets Live 2 11 North American Annual Revenue 2 $453MM Award-Winning Customer Service RSI won EGR “Customer Service Operator of the Year” 5 years straightConsistent, Player-First Service That Builds Trust 2022 Customer Contacts 1 million North American Markets Live 2 15 North American Annual Revenue 2 $540MM 2020 Customer Contacts 650k North American Markets Live 2 6 North American Annual Revenue 2 $263MM 2023 Customer Contacts 1 million North American Markets Live 2 16 North American Annual Revenue 2 $612MM Net Promoter Score +3% YoY Increase full year 2025 over 2024 Customer Satisfaction Score +2% YoY Increase full year 2025 over 2024 (1) Customer satisfaction score. (2) U.S. and Canada markets only. 18 2024 Customer Contacts 954k North American Markets Live 2 16 North American Annual Revenue 2 $785MM Improved Net Promoter Score and Customer Satisfaction1 Y-o-Y for full year 2025. 2025 Customer Contacts 1.31M North American Markets Live 2 16 North American Annual Revenue 2 $980MM
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Over 140 Years of Collective C-Suite Gaming Industry Experience Previous Experience 4 MICHELLE ARMER Chief People Officer •Chief People Officer and industry specialist with extensive knowledge of workplace culture and infrastructure •Previously, served as Chief People officer at CareerBuilder 22 MATTIAS STETZ Chief Operating Officer •Chief Operating Officer since 2016 •Extensive experience in marketing, sports betting operations and media content creation for sports betting •Previously CCO at Unibet Group where he spent a decade shaping Unibet’s long-term strategy and oversaw day-to-day sports marketing and operations 5 SHUBHAM TYAGI Chief Technology Officer •Chief Technology Officer since 2025 •Oversees RSI Product, Engineering and IT / Communications teams and RSI's European teams •Former Chief Technology Officer for Warner Bros, Discovery – Sports 40 LAURA MCALLISTER COX Chief Compliance Officer •Chief Compliance Officer and experienced gaming attorney •Previously Vice President of Regulatory Compliance and Legal Counsel of Rush Street Gaming, LLC and Executive Vice President and General Counsel for Gaming Partners International 11 PAUL WIERBICKI Chief Legal Officer •Chief Legal Officer and member of RSI’s Board of Directors and Nominating and Governance Committee •General Counsel of LAMB Capital Advisors since 2015 •Previously Senior Counsel, Business and Legal at AbbVie Inc. and Partner at Kirkland & Ellis 6 KYLE SAUERS President & Chief Financial Officer •Promoted to President in October 2025 •Chief Financial Officer since 2020 •Prior to joining RSI, held senior finance roles throughout the tech and healthcare industries including CFO at Echo Global Logistics 24 RICHARD SCHWARTZ Chief Executive Officer •Leader and innovator in the gaming industry for over 20 years •Strong grasp of player psychology and user experience •Started the interactive business for WMS Industries (now Light & Wonder) •Previously, an executive at Telecom Italia Lab US Years of Gaming Experience 23 ROB PICARD Chief Strategy Officer •Senior Administrative, Commercial Sales & Business Development Executive •20+ years in Global iGaming, Technology, & Capital Markets •Co-founder of two online gaming businesses with successful exits •Former Commercial Director at Xanadu Consultancy, Thomson Reuters and SunTrust Robinson Humphrey 15 BRIAN SAPP Chief Marketing Officer •Chief Marketing Officer and mobile marketing veteran •Previously served in executive and marketing leadership roles at Rec Room, Jam City, and WB Games 19
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20 20 Financial Overview
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Historical MAU & ARPMAU 2023 2024 2025 2026 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Monthly Average Users (MAU) 274,450 289,676 278,586 357,197 394,011 446,578 487,243 538,705 556,355 599,774 639,683 771,497 839,125 949,044 907,881 North America 144,958 130,575 131,201 157,672 173,917 162,421 168,170 203,552 202,666 196,832 224,968 278,324 296,133 296,407 300,572 LATAM 129,492 159,100 147,385 199,525 220,094 284,157 319,073 335,153 353,689 402,942 414,716 493,173 542,992 652,637 607,308 Average Revenue per Monthly Average User (ARPMAU) $191 $185 $199 $178 $182 $164 $159 $156 $156 $149 $146 $140 $146 $138 $141 North America $327 $364 $373 $347 $358 $384 $384 $347 $368 $391 $365 $331 $317 $320 $309 LATAM $40 $39 $43 $43 $44 $38 $39 $40 $36 $30 $27 $32 $54 $55 $58 21
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Amounts in USD $000’s (except for shares and per share data) Three Months Ended September 30, Nine Months Ended September 30, 2026 2025 2026 2025 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Revenue $ 385,851 $ 277,911 $ 1,149,988 $ 809,535 Operating costs and expenses Costs of revenue 245,434 183,466 737,746 528,496 Sales and marketing 56,001 39,043 153,278 118,314 General and administrative 29,614 25,746 93,355 74,505 Depreciation and amortization 12,149 10,188 33,950 29,506 Total operating costs and expenses 343,198 258,443 1,018,329 750,821 Income from operations 42,653 19,468 131,659 58,714 Other income (expense) Interest income, net 4,137 2,555 10,569 6,435 Change in tax receivable agreement liability — — — (113,037) Total other income (expense) 4,137 2,555 10,569 (106,602) Income (loss) before income taxes 46,790 22,023 142,228 (47,888) Income tax expense (benefit) 18,118 7,177 58,050 (102,775) Net income 28,672 14,846 84,178 54,887 Net income attributable to non-controlling interests 16,838 8,791 51,728 26,825 Net income attributable to Rush Street Interactive, Inc. $ 11,834 $ 6,055 $ 32,450 $ 28,062 Earnings per common share attributable to Rush Street Interactive, Inc. – basic $ 0.10 $ 0.06 $ 0.30 $ 0.30 Weighted average common shares outstanding – basic 115,708,955 96,223,133 109,657,744 95,051,128 Earnings per common share attributable to Rush Street Interactive, Inc. – diluted $ 0.10 $ 0.06 $ 0.28 $ 0.23 Weighted average common shares outstanding – diluted 120,847,062 236,373,831 114,358,682 234,958,924 Statements of Operations 22
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Amounts in USD $000’s Three Months Ended September 30, Nine Months Ended September 30, 2026 2025 2026 2025 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Net income $ 28,672 $ 14,846 $ 84,178 $ 54,887 Other comprehensive income Foreign currency translation adjustment, net of tax 2,676 3,683 13,087 9,759 Comprehensive income 31,348 18,529 97,265 64,646 Comprehensive income attributable to non-controlling interests 18,371 11,185 59,516 33,214 Comprehensive income attributable to Rush Street Interactive, Inc. $ 12,977 $ 7,344 $ 37,749 $ 31,432 Statements of Comprehensive Income 23
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Non-GAAP Financial Measures This presentation includes certain non-GAAP financial measures, including Adjusted EBITDA, Adjusted Operating Costs and Expenses, Adjusted Net Income, Adjusted Earnings Per Share and Adjusted Weighted Average Common Shares Outstanding, each of which is defined below: Adjusted EBITDA means net income (loss) before interest, income taxes, depreciation and amortization, share-based compensation, adjustments for certain one-time or non-recurring items and other adjustments. Adjusted EBITDA excludes certain expenses that are required in accordance with GAAP because certain expenses are either non-cash or are not related to RSI’s underlying business performance. Adjusted Operating Costs and Expenses means RSI’s GAAP operating costs and expenses adjusted to exclude the impacts of share-based compensation, certain one-time or non-recurring items and other adjustments. Adjusted Operating Costs and Expenses excludes certain expenses that are required in accordance with GAAP because certain expenses are either non-cash or are not related to RSI’s underlying business performance. Adjusted Net Income means net income attributable to Rush Street Interactive, Inc. as used in the diluted earnings (loss) per share calculations, adjusted for the reallocation of net income (loss) attributable to non- controlling interests, share-based compensation, certain one-time or non-recurring items and other adjustments. Adjusted Weighted Average Common Shares Outstanding means the weighted average number of common shares outstanding as used in the diluted earnings (loss) per share calculation, adjusted for the assumed conversion of the non-controlling interest’s Rush Street Interactive, LP Class A units to Class A common stock of RSI on a one-to-one-basis and incremental shares from assumed conversion of stock options and restricted stock units not otherwise included in the diluted earnings (loss) per share calculation. Adjusted Earnings Per Share means Adjusted Net Income divided by Adjusted Weighted Average Common Shares Outstanding. RSI includes these non-GAAP financial measures because management uses them to evaluate RSI’s core operating performance and trends and to make strategic decisions regarding the allocation of capital and new investments. Management believes that these non-GAAP financial measures provide investors with useful information on RSI’s past financial and operating performance, enable comparison of financial results from period-to-period where certain items may vary independent of business performance, and allow for greater transparency with respect to metrics used by RSI’s management in operating its business. Management also believes these non-GAAP financial measures are useful in evaluating RSI’s operating performance compared to that of other companies in its industry, as these metrics generally eliminate the effects of certain items that may vary from company to company for reasons unrelated to overall operating performance. By providing full year 2026 Adjusted EBITDA guidance, RSI provided its expectation of a forward-looking non-GAAP financial measure. Information reconciling full year 2026 Adjusted EBITDA to its most directly comparable GAAP financial measure, net income (loss), is unavailable to RSI without unreasonable effort due to, among other things, the inherent difficulty in forecasting and quantifying the comparable GAAP measure and the applicable adjustments and other amounts that would be necessary for such a reconciliation, and certain of these amounts are outside of RSI’s control and may be subject to high variability or complexity. Preparation of such reconciliations would also require a forward-looking balance sheet, statement of income and statement of cash flow, prepared in accordance with GAAP, and such forward-looking financial statements are unavailable to RSI without unreasonable effort. RSI provides a range for its Adjusted EBITDA forecast that it believes will be achieved; however, RSI cannot provide any assurance that it can predict all of the components of the Adjusted EBITDA calculation. RSI provides a forecast for Adjusted EBITDA because it believes that Adjusted EBITDA, when viewed with RSI’s results calculated in accordance with GAAP, provides useful information for the reasons noted herein. However, Adjusted EBITDA is not a measure of financial performance or liquidity under GAAP and, accordingly, should not be considered as an alternative to net income (loss) or cash flow from operating activities or as an indicator of operating performance or liquidity. 24
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Amounts in USD $000's Three Months Ended September 30, Nine Months Ended September 30, 2026 2025 2026 2025 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Net income $ 28,672 $ 14,846 $ 84,178 $ 54,887 (-) Interest income, net (4,137) (2,555) (10,569) (6,435) (+/-) Income tax expense (benefit) 18,118 7,177 58,050 (102,775) (+) Depreciation and amortization 12,149 10,188 33,950 29,506 (+) Share-based compensation expense 7,414 6,379 21,423 21,290 (+) Change in tax receivable agreement liability — — — 113,037 Adjusted EBITDA $ 62,216 $ 36,035 $ 187,032 $ 109,510 Non-GAAP Measures: Adjusted EBITDA 25
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Amounts in USD $000's Three Months Ended September 30, Nine Months Ended September 30, 2026 2025 2026 2025 (Unaudited) (Unaudited) (Unaudited) (Unaudited) GAAP operating costs and expenses: Costs of revenue $ 245,434 $ 183,466 $ 737,746 $ 528,496 Sales and marketing 56,001 39,043 153,278 118,314 General and administrative 29,614 25,746 93,355 74,505 Depreciation and amortization 12,149 10,188 33,950 29,506 Total GAAP operating costs and expenses $ 343,198 $ 258,443 $ 1,018,329 $ 750,821 Non-GAAP operating cost and expense adjustments: Costs of revenue (1) $ (87) $ (81) $ (239) $ (223) Sales and marketing (1) (1,318) (969) (3,785) (5,248) General and administrative (1) (6,009) (5,329) (17,399) (15,819) Depreciation and amortization — — — — Total non-GAAP operating cost and expense adjustments $ (7,414) $ (6,379) $ (21,423) $ (21,290) Adjusted operating costs and expenses: Costs of revenue $ 245,347 $ 183,385 $ 737,507 $ 528,273 Sales and marketing 54,683 38,074 149,493 113,066 General and administrative 23,605 20,417 75,956 58,686 Depreciation and amortization 12,149 10,188 33,950 29,506 Total adjusted operating costs and expenses $ 335,784 $ 252,064 $ 996,906 $ 729,531 Non-GAAP Measures: Adjusted Operating Costs and Expenses (1) Non-GAAP Operating Costs and Expense Adjustments include Share-based compensation expense. 26
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Non-GAAP Measures: Adjusted Net Income; Adjusted Weighted Average Common Shares Outstanding; Adjusted Earnings Per Share Amounts in USD $000's ( except for shares and per share data) Three Months Ended September 30, Nine Months Ended September 30, 2026 2025 2026 2025 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Adjusted net income: Net income attributable to Rush Street Interactive, Inc. – basic $ 11,834 $ 6,055 $ 32,450 $ 28,062 Effect of diluted securities: Increase to net income attributable to non-controlling interests — 8,791 — 26,825 Net income attributable to Rush Street Interactive, Inc. – diluted 11,834 14,846 32,450 54,887 Adjustments: Net income attributable to non-controlling interest(1) 16,838 — 51,728 — Share-based compensation expense 7,414 6,379 21,423 21,290 Deferred tax benefit associated with initial recognition of deferred tax asset — — — (121,107) Change in tax receivable agreement liability — — — 113,037 Adjusted net income $ 36,086 $ 21,225 $ 105,601 $ 68,107 Adjusted weighted-average common shares outstanding: Weighted-average common shares outstanding – basic 115,708,955 96,223,133 109,657,744 95,051,128 Adjustments: Incremental shares from assumed conversion of stock options and restricted stock units 5,138,107 7,869,982 4,700,938 6,700,806 Conversion of weighted-average RSILP units to Class A Common Shares — 132,280,716 — 133,206,990 Weighted-average common shares outstanding – diluted 120,847,062 236,373,831 114,358,682 234,958,924 Adjustments: Conversion of weighted-average RSILP units to Class A Common Shares(1) 115,990,399 — 122,035,568 — Adjusted weighted-average common shares outstanding 236,837,461 236,373,831 236,394,250 234,958,924 Adjusted earnings per share: Earnings per common share attributable to Rush Street Interactive, Inc. – basic $ 0.10 $ 0.06 $ 0.30 $ 0.30 Earnings per common share attributable to Rush Street Interactive, Inc. – diluted $ 0.10 $ 0.06 $ 0.28 $ 0.23 Adjusted earnings per share $ 0.15 $ 0.09 $ 0.45 $ 0.29 (1) Adjusted net income includes the reallocation of net income attributable to non-controlling interests that is not otherwise included in net income attributable to Rush Street Interactive, Inc. - diluted. Adjusted weighted-average common shares outstanding includes the assumed conversion of weighted-average RSILP units to Class A Common Shares that is not otherwise included in Weighted-average common shares outstanding - diluted. 27
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Type of Outstanding Equity as of September 30, 2026 Common Stock Outstanding Weighted Average Exercise Price Class V Common Stock 115,830,345 — Class A Common Stock 115,348,275 — Total Common Shares Outstanding 231,178,620 — Restricted Stock Units (Unvested) 4,813,726 — Restricted Stock Units (Deferred)(1) 122,558 — Stock Options (Outstanding) 2,584,194 $5.40 Diluted Shares Outstanding(2) 238,699,098 — Capitalization - Detailed Share Count (1) RSUs that have vested but the resulting shares of Class A Common Stock have not yet been issued. (2) Includes shares that would otherwise be anti-dilutive when performing the EPS calculation. 28
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Key Metrics and Other Information This presentation includes certain key metrics and other information, including Average Revenue Per Monthly Active User, First Time Depositor, Gross Gaming Revenue, Lifetime Value and Monthly Active Users, each of which is defined below. Average Revenue Per Monthly Active User (ARPMAU) means, for the applicable period, the revenue divided by the average MAUs. First Time Depositor (FTD) means a user on RSI’s online gaming platform who made their real-money deposit with RSI. Gross Gaming Revenue (GGR) means the gross dollar value of all bets less player winnings. Lifetime Value (LTV) means the total net revenue generated over a player’s lifetime. Monthly Active Users (MAUs) means the number of unique users per month who have placed at least one real-money bet across one or more of our online casino, poker, or online sports betting offerings. The numbers RSI uses to calculate many of these key metrics and other information are based primarily on internal RSI data. While these numbers are based on what RSI believes to be reasonable judgments and estimates of its customer base and acquisition costs, among other things, for the applicable period of measurement, there are inherent challenges in measuring, among other things, usage and engagement with respect to its online offerings across our customer base. Such challenges and limitations may also affect RSI’s understanding of certain details of its business. In addition, RSI’s key metrics and related information and estimates, including the definitions and calculations of the same, may differ from those published by third parties or from similarly titled metrics of its competitors due to differences in operations, offerings, methodology and access to information. RSI regularly reviews, and may adjust its processes for calculating, its internal metrics to improve their accuracy. 29