Earnings release
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Super Group Reports Financial Results for Third Quarter of 2025 • Revenue of $556.9 million for the third quarter of 2025 • Profit for the period of $95.8 million for the third quarter of 2025 • Non-GAAP Adjusted EBITDA ex-US of $149.2 million and $2.9 million from the U.S. amounted to Adjusted EBITDA of $152.1 million • Raising full-year Group Revenue and Adjusted EBITDA guidance: • Revenue: $2.17 - $2.27 billion; • Adjusted EBITDA: $555 - $565 million • Cash and cash equivalents of $461.9 million as of September 30, 2025 New York, NY – November 3, 2025 – Super Group (SGHC) Limited (NYSE: SGHC) (“SGHC”, the "Company" or “Super Group”), the parent company of Betway, a leading online sports betting and gaming business, and Spin, the multi-brand online casino, today announced its third quarter 2025 unaudited consolidated financial results. Neal Menashe, Chief Executive Officer of Super Group, commented: “We are incredibly pleased with our Q3 performance, which highlights the continued strength of our global platform and consistent execution across our core markets. Despite customer-friendly outcomes in September, we delivered record-level customer engagement, strong revenue growth, and margin expansion. Hitting six million monthly active customers was another significant milestone, a reflection of our product innovation and local execution. With continued momentum into Q4, and the highly anticipated launch of Super Coin, we are focused on driving long-term value for our shareholders and enhancing our global position.” Alinda van Wyk, Chief Financial Officer of Super Group, stated: “This was another quarter of strong financial delivery. We generated an exceptional $152 million in Adjusted EBITDA, up 65% year-over-year and raised our full-year guidance above the targets we shared on Investor Day. Our disciplined investment in high-return markets, combined with operational efficiencies and improved marketing ROI, continues to translate into expanding margins. Our balance sheet remains robust with $462 million in cash, giving us both flexibility and confidence as we look ahead to 2026.” Financial Highlights: • Revenue increased by 26% to $556.9 million for the third quarter of 2025 from $442.9 million in the same period of the prior year, driven by growth from the Africa, Europe and North America (mainly Canada) markets partially offset by declines from South/Latin America. • Profit for the period was $95.8 million for the third quarter of 2025, by comparison, profit for the period for the third quarter of 2024 was $10.3 million and included a non-cash charge of $2.2 million related to the impairment of DGC's sportsbook assets and $34.0 million relating to sportsbook closure costs. • Adjusted EBITDA, a non-GAAP financial measure, increased by 65% to $152.1 million for the third quarter of 2025 compared to $92.0 million in the third quarter of 2024. • Monthly Active Customers increased by 18% to 5.5 million for the third quarter of 2025, compared to 4.7 million in the third quarter of 2024. 1
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• Cash and cash equivalents was $461.9 million as of September 30, 2025 compared to $388.0 million at December 31, 2024. ◦ Inflows from operating activities amounting to $269.3 million; ◦ Outflows from investing activities of $100.1 million. This was mainly as a result of an investment in tangible and intangible assets of $99.7 million, predominantly due to the capitalization of expenditure on software and the acquisition of property in Cape Town, South Africa; ◦ Outflows from financing activities of $126.9 million, mainly due to dividends paid of $136.1 million, lease payments of $5.9 million, partially offset by proceeds received from interest bearing loans and borrowings linked to the acquisition of the Cape Town property; and ◦ A gain of $31.6 million as a result of foreign currency fluctuations on foreign cash balances held over this period. • Dividends of $20.2 million was paid during the quarter, bringing the 12-month capital returns to $136.1 million. Guidance: • Super Group is raising its full-year Group Revenue and Adjusted EBITDA guidance. • Revenue is now expected to be between $2.17 - $2.27 billion, up from $2.125 - $2.20 billion compared to prior guidance. • Adjusted EBITDA is now expected to be between $555 - $565 million, up from $550 - $560 million compared to prior guidance. Revenue by Geographical Region for the Three Months Ended September 30, 2025 in $ millions: Betway Spin Total Africa and Middle East 219 7 226 Asia-Pacific 6 32 38 Europe 81 27 108 North America 33 148 181 South/Latin America 2 2 4 Total revenue 341 216 557 % % % Africa and Middle East 63 % 3 % 40 % Asia-Pacific 2 % 15 % 7 % Europe 24 % 13 % 19 % North America 10 % 68 % 33 % South/Latin America 1 % 1 % 1 % 2
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Revenue by Geographical Region for the Three Months Ended September 30, 2024 in $ millions*: Betway Spin Total Africa and Middle East 164 1 165 Asia-Pacific 6 31 37 Europe 52 22 74 North America 37 124 161 South/Latin America 4 2 6 Total revenue 263 180 443 % % % Africa and Middle East 63 % 1 % 38 % Asia-Pacific 2 % 17 % 8 % Europe 20 % 12 % 17 % North America 14 % 69 % 36 % South/Latin America 1 % 1 % 1 % * The Group has adopted a change in presentation currency from Euros to USD at January 1, 2025. Accordingly, the comparative table has been re-presented retrospectively as outlined under the change in presentation currency note. Revenue by Geographical Region for the Nine Months Ended September 30, 2025 in $ millions: Betway Spin Total Africa and Middle East 646 12 658 Asia-Pacific 21 87 108 Europe 231 81 312 North America 108 452 560 South/Latin America 8 7 15 Total revenue 1,014 639 1,653 % % % Africa and Middle East 63 % 2 % 40 % Asia-Pacific 2 % 14 % 7 % Europe 23 % 13 % 19 % North America 11 % 70 % 33 % South/Latin America 1 % 1 % 1 % Revenue by Geographical Region for the Nine Months Ended September 30, 2024 in $ millions: Betway Spin Total Africa and Middle East 481 2 483 Asia-Pacific 22 93 115 Europe 142 65 207 North America 113 361 474 South/Latin America 11 11 22 Total revenue 769 532 1,301 % % % Africa and Middle East 62 % 0 % 37 % Asia-Pacific 3 % 18 % 9 % Europe 19 % 12 % 16 % North America 15 % 68 % 36 % South/Latin America 1 % 2 % 2 % 3
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Revenue by product line for the Three Months Ended September 30, 2025 in $ millions: Betway Spin Total Online casino 243 216 459 Sports betting 91 — 91 Brand licensing 6 — 6 Other 1 — 1 Total revenue 341 216 557 Revenue by product line for the Three Months Ended September 30, 2024 in $ millions: Betway Spin Total Online casino 183 180 363 Sports betting 74 — 74 Brand licensing 4 — 4 Other 2 — 2 Total revenue 263 180 443 Revenue by product line for the Nine Months Ended September 30, 2025 in $ millions: Betway Spin Total Online casino 678 639 1,317 Sports betting 313 — 313 Brand licensing 18 — 18 Other 5 — 5 Total revenue 1,014 639 1,653 Revenue by product line for the Nine Months Ended September 30, 2024 in $ millions *: Betway Spin Total Online casino 501 531 1,032 Sports betting 244 — 244 Brand licensing 16 — 16 Other 8 1 9 Total revenue 769 532 1,301 Sports betting and online casino revenues are not within the scope of IFRS 15 ‘Revenue from Contracts with Customers’ and are treated as derivatives under IFRS 9 ‘Financial Instruments’. Brand licensing revenues are within the scope of IFRS 15 ‘Revenue from Contracts with Customers’. Other relates to profit share, royalties and outsource fees from external customers. * The Group has adopted a change in presentation currency from Euros to USD at January 1, 2025. Accordingly, the comparative table has been re-presented retrospectively as outlined under the change in presentation currency note. 1 1 2 3 1 1 2 3 1 1 2 3 1 1 2 3 1 2 3 4
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Non-GAAP Financial Information This press release includes non-GAAP financial information not presented in accordance with the International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board. EBITDA, Adjusted EBITDA, Adjusted EBITDA ex-US, Adjusted EBITDA US are non-GAAP company-specific performance measures that Super Group ("the Group") uses to supplement the Company’s results presented in accordance with IFRS. EBITDA is defined as profit before depreciation, amortization, finance income, finance expense and income tax expense. Adjusted EBITDA is EBITDA adjusted for RSU expense, change in fair value of options, unrealized foreign exchange, gain on disposal of business and other adjustments. Adjusted EBITDA ex-US is Adjusted EBITDA relating to the rest of the Group, excluding Digital Gaming Corporation (“DGC”). Adjusted EBITDA US is Adjusted EBITDA relating to DGC. Super Group believes that these non-GAAP measures are useful in evaluating the Company’s operating performance as they provide additional perspective on the financial performance of our core business, are similar to measures reported by the Company’s public competitors and are regularly used by securities analysts, institutional investors and other interested parties in analyzing operating performance and prospects. Management does not consider these non-GAAP measures in isolation or as an alternative to financial measures determined in accordance with IFRS. The principal limitation of these non-GAAP financial measures is that they exclude significant expenses that are required by IFRS to be recorded in Super Group’s financial statements. In order to compensate for these limitations, management presents non-GAAP financial measures together with IFRS results. Non-GAAP measures should be considered in addition to results and guidance prepared in accordance with IFRS, but should not be considered a substitute for, or superior to, IFRS results. Reconciliation tables of the most comparable IFRS financial measure to the non-GAAP financial measures used in this press release, and supplemental materials are included below. Super Group urges investors to review the reconciliation and not to rely on any single financial measure to evaluate its business. In addition, other companies, including companies in our industry, may calculate similarly named non- GAAP measures differently than we do, which limits their usefulness in comparing our financial results with theirs. Change in presentation currency The Group adopted a change in presentation currency from Euros to USD effective as at January 1, 2025. Accordingly, the comparatives set out herein have been re-presented retrospectively as if the new presentation currency had always been the presentation currency. Assets and liabilities previously reported in Euros have been converted to USD as at December 31, 2024, using the period end foreign exchange rates of the underlying functional currency of the respective subsidiaries within the Group. Items within the statement of Profit or Loss and Other Comprehensive Income previously reported in Euros have been converted to USD from the functional currency of the respective subsidiaries within the Group using the average monthly foreign exchange rates at the date of the transaction. Historic equity transactions were converted at the average monthly foreign exchange rates at the date of the transactions and were subsequently carried at the historic value. The results presented are unaudited. 5
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Reconciliation of Adjusted EBITDA to profit for the period for the Three and Nine Months Ended September 30: Three Months Ended September 30 Nine Months Ended September 30 2025 $m 2024 * $m 2025 $m 2024 * $m Adjusted EBITDA, ex-US 149 105 432 285 Adjusted EBITDA, US 3 (13) (12) (54) Adjusted EBITDA 152 92 420 231 Income tax expense (37) (16) (109) (47) Finance income 3 3 7 9 Finance expense (1) (2) (5) (5) Depreciation and amortization expense (17) (21) (54) (66) Change in fair value of options — — — (14) RSU expense (3) (1) (12) (8) Unrealized foreign exchange (1) (3) (3) (8) Impairment of assets — (2) (66) (42) US iGaming closure 1 — (22) — US Sportsbook closure — (34) — (34) Market closure — (6) — (6) Gain on disposal of business — — — 44 Other adjustments (1) — (5) (1) Profit for the period 96 10 151 53 Other adjustments in 2025 mainly relates to capital market and sportsbook acquisition related costs. * The Group has adopted a change in presentation currency from Euros to USD at January 1, 2025. Accordingly, the comparative table has been re-presented retrospectively as outlined under the change in presentation currency note. Webcast Details The Company will host a webcast at 8:45 a.m. ET tomorrow to discuss the third quarter 2025 financial results. Participants may access the live webcast and supplemental earnings presentation on the events & presentations page of the Super Group Investor Relations website at: https://investors.sghc.com/events-and-presentations/default.aspx. About Super Group (SGHC) Limited Super Group (SGHC) Limited is the holding company for leading global online sports betting and gaming businesses: Betway, a premier online sports betting brand, and Spin, a multi-brand online casino offering. The Group is listed on the New York Stock Exchange (NYSE ticker: SGHC) and is licensed in multiple jurisdictions, with leading positions in key markets throughout Europe, the Americas and Africa. The Group’s sports betting and online gaming offerings are underpinned by its scale and leading technology, enabling fast and effective entry into new markets. Its proprietary marketing and data analytics engine empowers it to responsibly provide a unique and personalized customer experience. Super Group has been ranked number 6 in the EGR Power 50 for the last three years. For more information, visit www.supergroup.com. Contacts: Investors: investors@sghc.com Media: media@sghc.com Source: Super Group 1 1 6
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Forward-Looking Statements Certain statements made in this press release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, Super Group’s intention to pay a dividend, including the expected timing of such dividend, expectations and projections of market opportunity, growth and profitability. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “pipeline,” “possible,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) the ability to implement business plans, forecasts and other expectations, and identify and realize additional opportunities; (ii) changes in the competitive and regulated industries in which Super Group operates; (iii) variations in operating performance across competitors; (iv) changes in laws and regulations affecting Super Group’s business; (v) Super Group’s inability to meet or exceed its financial projections; (vi) changes in general economic conditions; (vii) changes in domestic and foreign business, market, financial, political and legal conditions, including abrupt or unexpected changes in interest rates or increases in inflation or inflationary expectations and reductions in discretionary consumer spending; (viii) the ability of Super Group’s customers to deposit funds in order to participate in Super Group’s gaming products; (ix) Super Group’s ability, and the ability of Super Group’s key executives, certain employees, significant shareholders or other applicable individuals, to comply with regulatory requirements or successfully obtain a license or permit required in a particular regulated jurisdiction, or maintain, renew or expand existing licenses; (x) the effectiveness of technological solutions Super Group has in place to block customers in certain jurisdictions, including jurisdictions where Super Group’s business is illegal, or which are sanctioned by countries in which Super Group operates from accessing its offerings; (xi) Super Group’s ability to restrict and manage betting limits at the individual customer level based on individual customer profiles and risk level to the enterprise; (xii) Super Group’s ability to protect or enforce its intellectual property rights, the confidentiality of its trade secrets and confidential information, or the costs involved in protecting or enforcing Super Group’s intellectual property rights and confidential information, and Super Group’s ability to obtain new licenses and maintain, renew or expand existing licenses to use the intellectual property of third parties; (xiii) compliance with applicable data protection and privacy laws in Super Group’s collection, storage and use, including sharing and international transfers, of personal data; (xiv) failures, errors, defects or disruptions in Super Group’s information technology and other systems and platforms; (xv) Super Group’s ability to develop new products, services, and solutions, bring them to market in a timely manner, and make enhancements to its platform; (xvi) Super Group’s ability to maintain and grow its market share, including its ability to enter new markets and acquire and retain paying customers; (xvii) the success, including win or hold rates, of existing and future online betting and gaming products; (xiii) competition within the broader entertainment industry; (xix) Super Group’s reliance on strategic relationships with land based casinos, sports teams, event planners, local licensing partners and advertisers; (xx) events or media coverage relating to, or the popularity of, online betting and gaming industry; (xxi) trading, liability management and pricing risk related to Super Group’s participation in the sports betting and gaming industry; (xxii) accessibility to the services of banks, credit card issuers and payment processing services providers due to the nature of Super Group’s business; (xxiii) the regulatory approvals related to proposed acquisitions and the integration of the acquired businesses; and (xxiv) other risks and uncertainties indicated from time to time for Super Group including those under the heading “Risk Factors” in our Annual Report on Form 20-F filed with the SEC on April 3, 2025, and in Super Group’s other filings with the SEC. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in other documents filed or that may be filed by Super Group from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Super Group assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law. Super Group does not give any assurance, representation or warranty that it will achieve its expectations in any specified time frame or at all. 7
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Super Group (SGHC) Limited Unaudited Consolidated Statements of Profit or Loss and Other Comprehensive Income for the Three and Nine Months Ended September 30, 2025 and 2024 Three Months Ended September 30 Nine Months Ended September 30 2025 $m 2024* $m 2025 $m 2024* $m Revenue 557 443 1,653 1,301 Direct and marketing expenses (371) (352) (1,147) (1,004) General and administrative expenses (45) (43) (136) (128) Depreciation and amortization expense (17) (21) (54) (66) Gain on disposal of business — — — 44 Impairment of assets — (2) (66) (42) Other operating income 7 — 8 5 Finance income 3 3 7 9 Finance expense (1) (2) (5) (5) Change in fair value of options — — — (14) Profit before taxation 133 26 260 100 Income tax expense (37) (16) (109) (47) Profit for the period 96 10 151 53 Profit for the period attributable to: Owners of the parent 96 10 150 53 Non-controlling interest — — 1 — 96 10 151 53 Other comprehensive income items that may be reclassified subsequently to profit Foreign currency translation 1 30 60 27 Other comprehensive income for the period 1 30 60 27 Total comprehensive profit for the period 97 40 211 80 Total comprehensive profit for the period attributable to: Owners of the parent 97 40 210 80 Non-controlling interest — — 1 — 97 40 211 80 Weighted average number of shares outstanding, basic (millions) 505,728,590 502,015,727 505,186,727 501,345,672 Weighted average number of shares outstanding, diluted (millions) 508,465,305 504,156,731 507,366,241 503,001,771 Profit per share, basic (cents) 18.98 1.99 29.69 10.57 Profit per share, diluted (cents) 18.88 1.98 29.56 10.54 * The Group has adopted a change in presentation currency from Euros to USD at January 1, 2025. Accordingly, the comparative table has been re- presented retrospectively as outlined under the change in presentation currency note. 8
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Super Group (SGHC) Limited Unaudited Consolidated Statements of Financial Position as at September 30, 2025 and December 31, 2024 2025 $m 2024 * $m ASSETS Non ‐ current assets Intangible assets 162 177 Goodwill 84 95 Property, plant and equipment 55 21 Investment Property 3 — Right-of-use assets 51 68 Deferred tax assets 24 40 Regulatory deposits 15 14 Loans receivable 3 — Investment in associate 4 3 Derivative and other financial asset 7 — Advance for sportsbook software 120 117 528 535 Current assets Trade and other receivables 175 139 Loans receivable 1 1 Income tax receivables 4 10 Amounts segregated for users 7 9 Cash and cash equivalents 462 388 Fixed term deposits 16 14 665 561 TOTAL ASSETS 1,193 1,096 Non-current liabilities Lease liabilities 51 67 Deferred tax liability 2 2 Interest-bearing loans and borrowings 16 — Provisions 1 1 70 70 Current liabilities Lease liabilities 5 6 Trade and other payables 251 285 Customer liabilities 67 53 Provisions 22 7 Income tax payables 32 20 Derivative financial instruments 3 2 Dividends payable — 75 380 448 TOTAL LIABILITIES 450 518 EQUITY Issued capital 344 344 Treasury shares (3) (3) Accumulated other comprehensive income/(loss) 16 (46) Retained profit 388 286 Equity attributable to owners of the parent 745 581 Non-controlling interest (2) (3) SHAREHOLDERS' EQUITY 743 578 TOTAL LIABILITIES AND EQUITY 1,193 1,096 Prepayment for Sportsbook software has been renamed to Advance for Sportsbook software. 1 1
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* The Group has adopted a change in presentation currency from Euros to USD at January 1, 2025. Accordingly, the comparative table has been re- presented retrospectively as outlined under the change in presentation currency note. 9