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3Q 2026 Earnings Review November 3, 2026
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DISCLAIMERS 2 Forward-Looking Statements Certain statements made in this presentation 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 presentation, 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; (xviii) 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 17, 2026, 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. Use of Projections This presentation contains projections, including Adjusted EBITDA (Group, U.S. and Ex-U.S.) and Total Revenue (Group, U.S. and Ex-U.S.). Our independent auditors have not audited, reviewed, compiled, or performed any procedures with respect to the projections for the purpose of their inclusion in this presentation and, accordingly, have not expressed an opinion or provided any other 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 indicative of future results. The assumptions and estimates underlying the projected 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 projected information. Even if our assumptions and estimates are correct, projections are inherently uncertain due to a number of factors outside our control. Accordingly, there can be no assurance that the projected results are indicative of our future performance or that actual results will not differ materially from those presented in the projected information. Inclusion of the projected information in this presentation should not be regarded as a representation by any person that the results contained in the projected information will be achieved. This presentation also includes certain projections of certain financial measures not presented in accordance with International Financial Reporting Standards or International Accounting Standards issued or adopted by the International Accounting Standards Board (“IFRS”). Due to the high variability and difficulty in making accurate forecasts and projections of some of the information excluded from these projected measures, together with some of the excluded information not being ascertainable or accessible, we are unable to quantify certain amounts that would be required to be included in the most directly comparable IFRS financial measures without unreasonable effort. Preliminary Financial Results The financial results included in this presentation are preliminary, have not been audited and are subject to change upon completion of the audit of Super Group's financial statements for the year ended December 31, 2026. As a result, these preliminary results may be different from the actual results that will be reflected in Super Group's consolidated financial statements to be included as part of Super Group's Annual Report on Form 20-F for the year ended December 31, 2026 to be filed with the US Securities and Exchange Commission. 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 our businesses. This presentation also contains trademarks, service marks, trade names and copyrights of third parties, which are the property of their respective 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, some of the trademarks, service marks, trade names and copyrights referred to in this presentation may be listed without the TM, SM, (C), (R) or TM symbols, but such references are not intended to indicate, in any way, that we will not assert, to the fullest extent under applicable law, their rights or the right of the applicable owners, if any, to these trademarks, service marks, trade names and copyrights. Non-GAAP Measures This presentation includes non-GAAP financial information not presented in accordance with the International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board. Adjusted EBITDA is a non-GAAP company- specific performance measure 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 unrealized foreign exchange, RSU expense, impairment of assets, provision for remote gaming duty, provision for penalties, gaming taxes recovered, change in fair value of earnout liability and other adjustments. Super Group believes that these non-GAAP measures are useful in evaluating the Group's operating performance as they provide additional perspective on the financial performance of the Group's 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 presentation, 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 has adopted a change in presentation currency from Euros to USD effective as at January 1, 2025. Accordingly, the comparatives 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. Change in segment reporting Effective for the year ending December 31, 2026, the Group will report its results under two new reportable segments: Africa and International. Previously, the Group reported its results based on two primary reportable segments: Betway (single-brand sportsbook and casino) and Spin (multi-brand online casino). These segments formed the basis for segment reporting in the consolidated financial statements through December 31, 2025.This change reflects the evolution of the Group’s internal management structure and the shift in strategic focus to regional performance and market-specific dynamics. The new segment structure is consistent with the Group’s internal reporting, resource allocation, and decision-making processes. The Group believes this change will enhance the transparency of its financial reporting and provide stakeholders with more meaningful information regarding performance, risks, and opportunities in its key geographic markets.
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Business Update01 Financial Highlights02 Guidance03 Appendix04
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CURRENT BUSINESS HIGHLIGHTS Total Revenue of $611 million (+10% YoY; +12% YoY Ex-U.S.); Adjusted EBITDA of $165 million (+8% YoY; margin of 27%) Cash and cash equivalents of $602 million, as of September 30, 2026; ~$25 million paid in dividends in 3Q-26 (LTM total ~$223 million) International Adjusted EBITDA +24%, margin +414 bps despite higher U.K. gaming taxes. Africa Adjusted EBITDA +23%, margin +144 bps Revising FY-26 Total Revenue guidance to be between $2.525 and $2.575 billion and Group Adjusted EBITDA between $700 and $720 million 01 Successful migration to Alberta’s regulated market. Secured three casino licenses in New Zealand in advance of regulation in 2027 02 03 04 05 06 Board approves $150 million share repurchase program through December 2027 5 Diversified, disciplined and growing profitably
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$602m Cash and Cash Equivalents (As of September 30, 2026) +30% YoY 6.0m Average Unique Monthly Active Customers5 +9% YoY 3Q-26 KEY FINANCIALS1,2,3,4,5 1 Total Revenue includes Net Revenue (Net Revenue after VAT & GST) and Other Revenue (including Brand Licensing Revenue) 2 For a reconciliation of Adjusted EBITDA, please refer to the reconciliation tables in the back of this presentation 3 Totals may not sum due to rounding 4 Amounts reflected in the difference between total Group results and the Africa and International segments represent head office costs and other expenses that cannot be practically allocated to an operating segment. It includes immaterial income relating to brand license fees and rental income earned on the letting of property owned by the Group and a share of losses and profits from associates. 5 Average Unique Monthly Active Customers represents the average number of unique active customers per month during the quarter, calculated consistently with prior-period presentations 26.9% Adjusted EBITDA2 Margin -43 bps YoY $611m Total Revenue1,3 +10% YoY (+12% YoY Ex-U.S.) $165m Adjusted EBITDA2,3 +8% YoY 6 Steady top-line growth and a strengthening balance sheet
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$262m Total Revenue1,3 Africa 3Q-26 SEGMENTAL BREAKDOWN: KEY FINANCIALS1,2,3,4 $93m Adjusted EBITDA2,3 $344m Total Revenue1,3 (+9% YoY Ex-U.S.) International $88m Adjusted EBITDA2,3 7 +17% YoY +23% YoY +5% YoY +24% YoY 1 Total Revenue includes Net Revenue (Net Revenue after VAT & GST) and Other Revenue. 2 For a reconciliation of Adjusted EBITDA, please refer to the reconciliation tables in the back of this presentation 3 Totals may not sum due to rounding 4 Amounts reflected in the difference between total Group results and the Africa and International segments represent head office costs and other expenses that cannot be practically allocated to an operating segment. It includes immaterial income relating to brand license fees and rental income earned on the letting of property owned by the Group and a share of losses and profits from associates. Diversified mix: Strong revenue gains led by Africa; EBITDA expansion across segments
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8 AFRICA: EIGHT MARKETS, ONE EXPANDING FOOTPRINT 1 Source: H2GC Global 2030 Interactive TAM estimates as of October 2026 2 Interactive 5-year CAGR from 2026 3 Source: GSMA Association (The Mobile Economy, Africa 2026); 4 Source: DataReportal, Digital 2026 Mid-Year Global Update Report 5 Source: WorldStats (2026) 6 Source: IMF (April 2026 Projections) Driving the next phase of growth across Africa Future prospects Expected launch: ~2027 - contingent on local policy adoption ANGOLA NAMIBIA ETHIOPIA KENYA UGANDA RWANDA ZIMBABWE 1 2 3 Where we operate: 1. Botswana 2. Ghana 3. Malawi 4. Mozambique 5. Nigeria 6. South Africa 7. Tanzania 8. Zambia 4 5 7 8 Global Total Addressable Market: Africa Total Addressable Market: $546 billion1 (9% CAGR2) $23 billion1 (13% CAGR2) 28% 11/20 12/20 mobile internet connectivity3 vs. 74% globally4 Of the fastest growing populations5 Of the fastest growing economies6 6 DEMOCRATIC REPUBLIC OF CONGO
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CONTINUED STRONG GROWTH IN TOTAL MONTHLY ACTIVE CUSTOMERS1 2.6m2.6m2.7m 3.4m3.5m3.7m4.0m 4.7m4.7m4.5m4.7m 5.3m5.4m5.5m5.5m 6.1m6.4m6.2m6.0m 1Q 2022 2Q 2022 3Q 2022 4Q 2022 1Q 2023 2Q 2023 3Q 2023 4Q 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 2Q 2026 3Q 2026 9 ~9% YoY INCREASE Steady year-on-year growth, built on a profitable, loyal customer base 1 Average Unique Monthly Active Customers represents the average number of unique active customers per month during the quarter, calculated consistently with prior-period presentations
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SEASONALITY IS PART OF THE GAME1,2,3 2.9m 6.2m 3.4m 5.8m July - Sept. (Summer)Monthly Active Customers12MMA 24MMA 1/22 6/22 11/22 4/23 9/23 2/24 7/24 12/24 5/25 10/25 3/26 8/26 10 Monthly Average Customers follow typical summer seasonality, rebounding as European football returns 1 MMA: Month Moving Average 2 Note: Exit of India in September 2023, exit of U.S. Sports in July 2024 and U.S. Casino in November 2025, exit of New Zealand Sports in July 2025, and Botswana market launch in February 2025 3 Average Unique Monthly Active Customers represents the average number of unique active customers per month during the quarter, calculated consistently with prior-period presentations
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Americas Africa Europe NET REVENUE BY GEOGRAPHY: CONTINUED GLOBAL DIVERSIFICATION1,2 3Q 2025 3Q 2026 33% 41% 20% 6% Americas Africa Europe RoW 32% 43% 19% 6% +26% 3Q 2025 NET REVENUE $550M +10% 3Q 2026 NET REVENUE $605M 11 1 Net Revenue after VAT & GST 2 Totals may not sum due to rounding Key Highlights: • Africa ◦ Parlay mix bolstering sports margins ◦ Continued focus on localized product offerings ◦ Robust growth in Nigeria as expansion strategy comes into effect ◦ Mozambique changes in online casino regulation boost commercial attractiveness ◦ Namibia launch expected 2027 contingent on local policy adoption • Europe ◦ Strong casino growth in the U.K. ◦ Sports wagering uplift in Ireland after entering regulated sports market (July 1st) ◦ Germany slots live in 4Q, completing our product suite there • Americas ◦ Industry-leading product offerings rolled out ◦ Sustained YoY casino growth in Rest of Canada driven by product and tech enhancements ◦ Successful migration to Alberta’s regulated market • RoW ◦ Secured 3 online casino licenses in New Zealand ahead of market regulation (2027) Africa leadership and International scale driving revenue growth RoW International: International:
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Africa International NET REVENUE BY SEGMENT AND PRODUCT1: CONTINUED CASINO STRENGTH AND GROWING AFRICA CONTRIBUTION 3Q 2025 3Q 2026 3Q 2025 3Q 2026 1 Net Revenue after VAT & GST 41% 59% 57% 43% Sports Casino 16% 84% 85% 12 15%
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NET REVENUE BY SEGMENT1: GROUP REVENUE MOMENTUM UNDERPINNED BY STRONG GROWTH IN AFRICA 1 Net Revenue after VAT & GST % Net Revenue 20% 19% 23% 22% 26% 30% 29% 33% 37% 37% 38% 42% 39% 40% 41% 42% 44% 46% 43% 80% 81% 77% 78% 74% 70% 71% 67% 63% 63% 62% 58% 61% 60% 59% 58% 56% 54% 57% 1Q 2022 2Q 2022 3Q 2022 4Q 2022 1Q 2023 2Q 2023 3Q 2023 4Q 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 2Q 2026 3Q 2026 Africa International 13
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NET REVENUE BY PRODUCT1: CASINO REMAINS THE RELIABLE ENGINE OF SUPER GROUP 1 Net Revenue after VAT & GST % Net Revenue 32% 32% 30% 27% 25% 26% 19% 17% 20% 21% 17% 22% 21% 20% 16% 17% 19% 22% 15% 68% 68% 70% 73% 75% 74% 81% 83% 80% 79% 83% 78% 79% 80% 84% 83% 81% 78% 85% 1Q 2022 2Q 2022 3Q 2022 4Q 2022 1Q 2023 2Q 2023 3Q 2023 4Q 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 2Q 2026 3Q 2026 14 Sports Casino
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Millions (USD) Margin Casino Wagered Casino Gross Revenue Margin % 1Q 2022 2Q 2022 3Q 2022 4Q 2022 1Q 2023 2Q 2023 3Q 2023 4Q 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 2Q 2026 3Q 2026 $0 $2,500 $5,000 $7,500 $10,000 $12,500 $15,000 2% 4% 6% 8% CASINO WAGERS REMAIN STRONG1,2 15 Casino Gross Revenue +16% YoY (+19% YoY Ex-U.S.) Total Casino Wagers +11% YoY (+14% YoY Ex-U.S.) Gross Margin: 4.5% in 3Q-26 vs. 4.3% in 3Q-25 1 Margin defined as Gross Revenue as a percent of Total Wagered 2 Note: Exit of India in September 2023 and exit of U.S. Casino in November 2025 Another record quarter of casino wagers, underscoring the strength of our diversified business model
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1 Gross Margin defined as Gross Revenue as a percent of Total Wagered 2 Note: Exit of India in September 2023, exit of U.S. Sports in July 2024, and exit of New Zealand Sports in July 2025 3 Note: FIFA World Cup in 4Q22; UEFA Euros and Copa America in 2Q to 3Q24; Club World Cup in 2Q to 3Q25; FIFA World Cup in 2Q26 to 3Q26 Millions (USD) Margin Sportsbook Wagered Sportsbook Gross Revenue Margin % 1Q 2022 2Q 2022 3Q 2022 4Q 2022 1Q 2023 2Q 2023 3Q 2023 4Q 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 2Q 2026 3Q 2026 $0 $200 $400 $600 $800 $1,000 $1,200 5% 8% 10% 13% 15% 18% SPORTSBOOK WAGERS AND REVENUE REMAIN STRONG1,2,3 16 Sports Gross Revenue -2% YoY Total Sports Wagers +4% YoY Gross Margin: 12.1% in 3Q-26 vs. 12.8% in 3Q-25 Q3 sports results: ~$40m revenue and ~$25m EBITDA impact; structural margin within expected range at 13.8% YTD
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17 THE RHYTHM OF THE GAME: MONTHLY SPORTS GROSS MARGIN1,2 11.9% (4.4)% 19.3% 18.8% 7.3% 17.9% 3.9% 18.5% 7.1% 17.7% 8.5% 11.6% 12.1% 13.7% Sports Gross Margin12MMA 24MMA 1/23 4/23 7/23 10/231/24 4/24 7/24 10/24 1/25 4/25 7/25 10/25 1/26 4/26 7/26 -5% —% 5% 10% 15% 20% Continued trading efficiencies and diversification driving continued margin uplift 1 Excluding the U.S. and closed markets 2 MMA: Month Moving Average
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ZARsc UPDATE 18 PHASE 1: Foundations · Complete 2Q26 PHASE 2: Payments Expansion & Balance Retention Foundations Established. Payments and Reach Next... Dates ahead are targets. Yield is offered by partner platforms and is not guaranteed. ZARsc is issued by Super Money SA (Pty) Ltd, an FSCA-licensed Crypto Asset Service Provider. 3Q26 4Q26 Payment Utility Scan-to-Pay using QR payments Rewards & Yield Earn returns on ZARsc held Country expansion License application in progress for a Kenyan Shilling stablecoin Trading Pair Expansion ZARsc to trade against the Naira on Nigerian exchanges Invest Invest in gold, Bitcoin, Ethereum, or USD in the wallet Mastercard card Spend ZARsc anywhere Mastercard is accepted Remittance Send money abroad straight from the wallet Public launch Wallet opens to everyone On/off-ramps Instant bank transfers in and out of the wallet 1Q27 Consumer Wallet Soft Launch In beta since mid-April Exchange Listings Expansion ZARsc live on South Africa’s three largest exchanges: OVEX VALR Luno
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$1,363m $1,556m $1,835m $2,231m $1,907m $375m $363m $412m $517m $612m $342m $415m $447m $579m $684m$310m $388m $443m $557m $611m $336m $389m $534m $578m 1 Total Revenue includes Net Revenue (Net Revenue after VAT & GST) and Other Revenue (including Brand Licensing Revenue) 2 Totals may not sum due to rounding 3 The Group has adopted a change in presentation currency from Euros to USD effective as at January 1, 2025. Accordingly, the comparatives have been re-presented retrospectively as outlined in the disclaimer 4 U.S. included only from 2023 onwards, following consolidation of DGC in January 2023 Revenue +10% year-over-year (+12% year-over-year Ex-U.S.), with sustained momentum heading into 4Q TOTAL REVENUE1,2,3,4 20 1Q 2Q 3Q 4Q 2022 2023 2024 2025 Revenue Highlights: Africa • Revenue +17% • Wagers: Casino +21%; Sports +6% • Broad-based growth across key markets: South Africa +12%, Nigeria +42%, Zambia +16%, Mozambique +62% International • Revenue +5% (+9% YoY Ex-U.S.) • Wagers: Casino +4%; Sports +2% • Europe +6%, with the U.K. +13% • North America Ex-U.S. +10%, with Canada Ex-Ontario & Alberta increasing +15% • RoW +5%, with New Zealand +3% 2026
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Direct Expenses3 increased 11% to $231m: • Increased taxes in the U.K. • Moderately offset by lower processing cost, banking fees and royalties post-sportsbook consolidation • Continued focus on optimizing direct cost margins • Direct Expenses as a percentage of Total Revenue: 38% ◦ Ratio has increased from 37% in 3Q-25 $224m $216m $357m $560m $521m $74m $39m $50m $111m $152m $58m $83m $88m $157m $204m $50m $57m $92m $152m $165m $43m $37m $126m $139m Cost optimization initiatives driving Adjusted EBITDA growth of +8% YoY and margin of 27% ADJUSTED EBITDA1,2,3,4 21 1 Total Revenue includes Net Revenue (Net Revenue after VAT & GST) and Other Revenue (including Brand Licensing Revenue) 2 Totals may not sum due to rounding 3 The Group has adopted a change in presentation currency from Euros to USD effective as at January 1, 2025. Accordingly, the comparatives have been re-presented retrospectively as outlined in the disclaimer 4 U.S. included only from 2023 onwards, following consolidation of DGC in January 2023 1Q 2Q 3Q 4Q 2022 2023 2024 2025 2026 G&A Expenses3 increased 25% to $99m: • Increase driven by reclassification post-sportsbook acquisition costs and other investments • Ongoing analysis of cost base and realization of efficiencies • G&A Expenses as a percentage of Total Revenue: 16% ◦ Ratio has increased from 14% in 3Q-25 Marketing Costs3 remained flat (+0.3%) at $116m: • Investing in high return markets • Continued optimization of marketing budget alongside investment in key brand sponsorships • Marketing as a percentage of Total Revenue: 19% ◦ Ratio has decreased from 21% in 3Q-25
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27% Adjusted EBITDA as a % of Total Revenue2 19% Marketing costs as a % of Total Revenue 3Q-26 GROUP FINANCIAL KPIs1,2 Net Revenue 16% G&A Expenses as a % of Total Revenue 38% Direct Expenses as a % of Total Revenue 22 1 Total Revenue includes Net Revenue (Net Revenue after VAT & GST) and Other Revenue (including Brand Licensing Revenue) 2 For a reconciliation of Adjusted EBITDA, please refer to the reconciliation tables in the back of this presentation 15% 85% Sports Betting Online Casino
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23 MARKETING COSTS AS A % OF TOTAL REVENUE1 1 Total Revenue includes Net Revenue (Net Revenue after VAT & GST) and Other Revenue (including Brand Licensing Revenue) 28.3% 25.7% 23.4% 28.7%28.0% 22.0% 23.2% 29.2%28.9% 23.9% 21.8% 23.4% 25.5% 21.5%20.9% 23.4%22.9% 18.0% 19.1% 1Q 2022 2Q 2022 3Q 2022 4Q 2022 1Q 2023 2Q 2023 3Q 2023 4Q 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 2Q 2026 3Q 2026 Marketing as % of revenue naturally reduces as revenue from super-persistent long-duration cohorts increases FY-22 26.6% FY-23 25.5% FY-24 24.3% FY-25 22.8% 9M-26 20.0%
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18.2% 20.8% 22.0% 20.8% 23.9% 21.4% 23.0% 22.3% 21.6% 20.1%19.6% 16.4%15.8% 15.1% 14.3%13.9% 14.6%14.5% 16.3% 1Q 2022 2Q 2022 3Q 2022 4Q 2022 1Q 2023 2Q 2023 3Q 2023 4Q 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 2Q 2026 3Q 2026 FY-22 FY-23 FY-24 FY-25 9M-26 G&A EXPENSES AS A % OF TOTAL REVENUE1 24 Leverage from centralized operations and automation driving long-term efficiency gains 1 Total Revenue includes Net Revenue (Net Revenue after VAT & GST) and Other Revenue (including Brand Licensing Revenue) 20.4% 22.6% 19.2% 14.7% 15.1%
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DIRECT EXPENSES AS A % OF TOTAL REVENUE1 25 33.9% 36.6% 38.5%37.8%37.5%36.7% 39.1%39.1% 37.3% 36.3% 37.7% 36.6%37.2% 36.3% 37.5% 38.7% 37.7%37.8%37.8% 1Q 2022 2Q 2022 3Q 2022 4Q 2022 1Q 2023 2Q 2023 3Q 2023 4Q 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 2Q 2026 3Q 2026 Direct expense tightly managed, demonstrating platform leverage and supporting strong unit economics 1 Total Revenue includes Net Revenue (Net Revenue after VAT & GST) and Other Revenue (including Brand Licensing Revenue) FY-22 FY-23 FY-24 FY-25 9M-26 37.8%36.6% 38.1% 37.0% 37.4%
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ADJUSTED EBITDA AS A % OF TOTAL REVENUE1,2,3 26 1 Total Revenue includes Net Revenue (Net Revenue after VAT & GST) and Other Revenue (including Brand Licensing Revenue) 2 Note: Exit of India 3Q 2023, U.S. OSB 3Q 2024, U.S. iGaming 2Q 2025 3 Note: During the period from 2022 to 2025, exits occurred from Bulgaria, Portugal, France, Belgium, Sweden, Denmark, BA City, Japan, and Brazil 19.6% 16.8%16.2% 12.7% 10.7% 19.9% 14.7% 9.5% 12.2% 19.8%20.9% 23.6% 21.6% 27.0%27.3% 24.0%24.8% 29.8% 26.9% 1Q 2022 2Q 2022 3Q 2022 4Q 2022 1Q 2023 2Q 2023 3Q 2023 4Q 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 2Q 2026 3Q 2026 Optimizing market mix to support margin expansion while continuing to grow FY-22 FY-23 FY-24 FY-25 9M-26 27.3%16.4% 13.9% 19.4% 25.1%
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$157m $177m $228m $394m $368m $88m $82m $119m $163m $245m$69m $95m $110m $230m $124m H1 H2 3Q 2022 2023 2024 2025 2026 27 FREE CASH FLOW GENERATION1,2 High-quality earnings converting to cash: our asset-light model FCF CONVERSION 2% CAPEX AS % REVENUE 72% 2% 2% 70% 74% 69% 2% 1 Totals may not sum due to rounding 2 Free cash flow represents the cash generated by the business, adjusted for interest received, minus capital expenditure and corporate taxes 2% 70%
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TOTAL REVENUE ADJUSTED EBITDA PRIOR REVISED >$2.6 billion >$710 million REVISING 2026 GUIDANCE: DRIVERS AND ASSUMPTIONS 29 Strong organic growth, marketing and OPEX efficiencies; reinvestment into high growth markets; U.K. taxes; Alberta post-regulation; sports margin within structural range TOTAL REVENUE ADJUSTED EBITDA $700 - $720 million $2.525 - $2.575 billion
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USD (Millions) Net Revenue (Group) Sports Betting Online Casino Other Revenue3 Total Revenue2 (Group) Direct Expenses4 Marketing Costs4 G&A Expenses4 Adjusted EBITDA5 (Group) 1Q-26 2Q-26 3Q-26 1Q-25 2Q-25 3Q-25 604 676 605 511 570 550 116 150 90 106 116 91 488 526 515 404 455 459 8 8 6 6 9 7 612 684 611 517 579 557 (231) (258) (231) (192) (210) (209) (140) (123) (116) (132) (125) (116) (89) (99) (99) (82) (88) (80) 152 204 165 111 157 152 FINANCIAL RESULTS, OPERATING BASIS (Group)1,6 31 1 Totals may not sum due to rounding 2 Total Revenue includes Net Revenue (Net Revenue after VAT & GST) and Other Revenue (including Brand Licensing Revenue) 3 Other relates to Profit Share and Brand License Fee 4 Internal definitions of operational expenditure, and therefore do not agree to the classification per the 6K 5 For a reconciliation of Adjusted EBITDA, please refer to the reconciliation tables in the back of this presentation 6 Amounts reflected in the difference between total Group results and the Africa and International segments represent head office costs and other expenses that cannot be practically allocated to an operating segment. It includes immaterial income relating to brand license fees and rental income earned on the letting of property owned by the Group and a share of losses and profits from associates.
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USD (Millions) Net Revenue (Africa) Sports Betting Online Casino Other Revenue3 Total Revenue2 (Africa) Direct Expenses4 Marketing Costs4 G&A Expenses4 Adjusted EBITDA5 (Africa) 1Q-26 2Q-26 3Q-26 1Q-25 2Q-25 3Q-25 267 310 262 201 228 223 77 108 57 66 72 55 189 202 205 134 156 169 — — — — — — 267 310 262 201 228 224 (101) (109) (101) (68) (78) (88) (44) (44) (44) (35) (39) (42) (24) (23) (29) (17) (21) (22) 98 133 88 80 90 72 FINANCIAL RESULTS, OPERATING BASIS (Africa)1,6 32 1 Totals may not sum due to rounding 2 Total Revenue includes Net Revenue (Net Revenue after VAT & GST) and Other Revenue 3 Other relates to Profit Share 4 Internal definitions of operational expenditure, and therefore do not agree to the classification per the 6K 5 For a reconciliation of Adjusted EBITDA, please refer to the reconciliation tables in the back of this presentation 6 Amounts reflected in the difference between total Group results and the Africa and International segments represent head office costs and other expenses that cannot be practically allocated to an operating segment. It includes immaterial income relating to brand license fees and rental income earned on the letting of property owned by the Group and a share of losses and profits from associates.
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USD (Millions) Net Revenue (International) Sports Betting Online Casino Other Revenue3 Total Revenue2 (International) Direct Expenses4 Marketing Costs4 G&A Expenses4 Adjusted EBITDA5 (International) 1Q-26 2Q-26 3Q-26 1Q-25 2Q-25 3Q-25 337 366 343 310 342 326 38 42 33 40 44 36 299 325 310 270 299 290 2 2 1 1 2 2 339 368 344 311 344 328 (131) (155) (136) (121) (131) (125) (89) (81) (68) (82) (83) (76) (48) (49) (48) (50) (46) (52) 73 84 93 58 84 75 FINANCIAL RESULTS, OPERATING BASIS (International)1,6,7 33 1 Totals may not sum due to rounding 2 Total Revenue includes Net Revenue (Net Revenue after VAT & GST) and Other Revenue 3 Other relates to Profit Share 4 Internal definitions of operational expenditure, and therefore do not agree to the classification per the 6K 5 For a reconciliation of Adjusted EBITDA, please refer to the reconciliation tables in the back of this presentation 6 Amounts reflected in the difference between total Group results and the Africa and International segments represent head office costs and other expenses that cannot be practically allocated to an operating segment. It includes immaterial income relating to brand license fees and rental income earned on the letting of property owned by the Group and a share of losses and profits from associates. 7 Historical comparables have been revised to reflect a prior misstatement that improperly allocated costs to the International segment that should have been allocated to the Unallocated Costs segment following the implementation of our revised segment reporting beginning January 1, 2026. The Company assessed the materiality of this error on the prior period consolidated financial statements and concluded based on quantitative and qualitative analysis that this error was immaterial to its previously issued financial statements, taken as a whole.
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RECONCILIATION TO FINANCIAL STATEMENTS – ADJUSTED EBITDA USD (Millions) 3Q-26 Profit for the period 142 Income tax expense 37 Finance income (12) Finance expense 2 Depreciation and amortization expense 26 Unrealized foreign exchange (2) RSU expense 11 Impairment of assets 1 Provision for remote gaming duty1 (17) Provision for penalties1 (5) Gaming taxes recovered2 (17) Change in fair value of earnout (1) Adjusted EBITDA 165 Adjusted EBITDA, Africa 88 Adjusted EBITDA, International 93 Adjusted EBITDA, Unallocated costs3 (16) 34 1 Following a favourable tribunal decision during the quarter, a provision previously recognized in respect of a tax matter for the periods 2018 - 2022 has been released; the matter may be subject to further proceedings. 2 During the period, the Group recovered Austrian gaming taxes previously paid following a reassessment of amounts due for the periods 2019 - 2022. 3 Unallocated costs represent head office costs and other net costs that cannot practically be allocated to an operating segment. It includes immaterial income relating to brand license fees and rental income earned on the letting of property owned by the Group.
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1 As of September 30, 2026 DETAILED SHARE COUNT1 Shares (Millions) Shares Issued and Outstanding 508.7 Unvested Restricted stock units granted to employees 6.9 Fully Diluted Shares 515.5 35
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