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Q2 2026 EARNINGS | August 3, 2026
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2 DISCLAIMER Certain statements in this press release may constitute “forward-looking” statements and information within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 that relate to our current expectations and views of future events, including, without limitation, statements regarding future financial or operating performance, pl anned activities and objectives, anticipated growth resulting therefrom, market opportunities, strategies and other expectations, and our guidance and outlook, including expecte d performance for the full year 2026, as well as statements regarding our share repurchase plan. In some cases, these forward-looking statements can be identified by words or phrases such as “may,” “might,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “seek,” “believe,” “estimate,” “predict,” “potential,” “projects ”, “continue,” “contemplate,” “confident,” “possible” or similar words. These forward-looking statements are subject to risks, uncertainties and assumptions, some of which are beyond our control. In addition, these forward- looking statements reflect our current views with respect to future events and are not a guarantee of future performance. Actual outcomes may differ materially from the information contained in the forward-looking statements as a result of a number of factors, including, without limitation, the f ollowing: economic downturns and political and market conditions beyond our control, including uncertainty and instability resulting from catastrophic events such as acts o f war or terrorism and foreign exchange rate fluctuations; dependence on our strategic relationships with our sports league partners; effect of social responsibility concerns and public opinion on responsible gaming, gambling by minors, match-fixing or other illegal gambling schemes on our reputation; potential adverse changes in public and co nsumer tastes and preferences and industry trends; potential changes in competitive landscape, including new market entrants or disintermediation; potential inability t o anticipate and adopt new technology and products; potential errors, failures or bugs in our products; inability to protect our systems and data from continually evolving cybersecurity risks, security breaches or other technological risks; potential interruptions and failures in our systems or infrastructure; our ability to comply with governmental laws, rules, regulations, and other legal obligations, related to data privacy, protection and security; ability to comply with the variety of unsettled and developing U.S. and foreign laws on sports betting; risks associated with artificial intelligence and machine-learning technologies; failure to recruit, retain and develop qualified personnel; changes in the legal and regulatory status of real money gambling and betting legislation on us and our customers; our inability to maintain or obtain regulatory compliance in the jurisdictions i n which we conduct our business; our ability to obtain, maintain, protect, enforce and defend our intellectual property rights; our ability to obtain and maintain sufficient data rights from major sports leagues, including exclusive rights; our ability to successfully remediate any material weaknesses identified in our internal control over finan cial reporting; seasonality and volatility; difficulties in our ability to evaluate, complete and integrate acquisitions successfully; inability to secure additional financing in a t imely manner, or at all, to meet our long-term future capital needs; publication of research reports, including by short sellers, or speculation in the press or the investment community, about us; and other risk factors set forth in the section titled “Risk Factors” in our Annual Report on Form 20-F for the fiscal year ended December 31, 2025, and other documents filed with or furnished to the SEC, accessible on the SEC’s website at www.sec.gov and on our website at https://investors.sportradar.com. These statements reflect management’s current expectations regarding future events and operating performance and speak only as of the date of this press release. One should not put undue reliance on any forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the stat ements are made or to reflect the occurrence of unanticipated events.
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Entered into strategic partnerships with leading prediction market exchanges Kalshi and Polymarket, expanding the Company's total addressable market. Accelerated share repurchase program, repurchasing $140 million of shares in 2Q 2026. Since plan inception have repurchased a total of $422 million or 26 million shares. 4 2 1 3 55 Enhanced depth and breadth of sports rights coverage with the extension of Wimbledon, German DFB Pokal, DP World Tour and Liga National Basquete, acquired as part of the IMG ARENA transaction. 3 Delivered Q2 revenue of €378 million, up 19% YoY and grew Adjusted EBITDA1 19% YoY, expanded Adjusted EBITDA margin1 to 20.2%. DELIVERED STRONG PERFORMANCE WITH CONTINUED OPERATING MOMENTUM Generated strong Free cash flow1 of €103 million year-to-date, up 23% YoY, and increased Free cash flow conversion1 rate to 73%. 1 Non-IFRS financial measure; see the Appendix for defined terms and reconciliations of non -IFRS measures to IFRS measures.
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4 1 Non-IFRS financial operating metric; see the Appendix for defined terms and reconciliations of non-IFRS measures and operating metric to IFRS measures. Adjusted EBITDA €76MM +19% €378MM Revenue +19% Adjusted EBITDA Margin +10 bps 20.2% Free cash flow (YTD) +23% Q2 2026 FINANCIAL HIGHLIGHTS Q2 2026 FINANCIAL HIGHLIGHTS Continued Strong Execution with Double-Digit Revenue Growth, Margin Expansion & Significant Free Cash Flow 103% Net Retention Rate1 Free cash flow conversion (YTD) 73% Top 200 Customers (excludes contribution from IMG) vs. 68% LY €103MM
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5 LEAGUES & FEDERATIONS BETTING & PREDICTION MARKET OPERATORS 400 800 MEDIA & TECH PARTNERS MATCHES ANNUALLY, COVERING 85 SPORTS 900 >1M EXTENSIVE BREADTH AND SCALE IN THE GLOBAL SPORTS ECOSYSTEM
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6 Product Integration Client Uptake Rights Extensions PGA Tour: Expanded Premium Golf Service to the PGA Tour, including Live Match Trackers, Live Streaming and advanced in-play betting. Roland Garros and US Open: Expanded premium product offering launching player and micro markets, as well as 4sight Streaming for Roland Garros and the upcoming US Open. Strong Uptake: 100% of Tier 1 clients and 60% of non-IMG clients now taking IMG content. Betting Clients: More than 75% of core betting clients across MTS, Live Data and Live Odds clients are taking IMG content. Hard Rock: Expanded our multi-year partnership, adding official PGA TOUR and UFC data, and enhanced in-play betting capabilities. CONTINUED PROGRESS INTEGRATING IMG RIGHTS PORTFOLIO UFC and MLS: Launched Live Match Tracker Visualizations. Previously secured rights extensions: Multi-year extensions secured across DP World Tour and R&A (The Open), German DFB Pokal and with the Liga National Basquete. Wimbledon: Secured multi-year extension to provide exclusive data and audiovisual betting rights, allowing for further innovation across our premium tennis portfolio.
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7 MANAGED TRADING SERVICES TURNOVER UP 26% TTM MTS benefitted from major US sport playoffs and World Cup Group stages 0.1bn 0.7bn 1.4bn 2.5bn 4.8bn 6.6bn 13.1bn 23.1bn 27.4bn 35.0bn 43.8bn 49.0bn 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Single-Service Offering Multi-Service Marketing CloudSingle-feed, small/start-up operators Multi-feed, tier 1 operators € Turnover p.a. Risk Mgmt. Capability First Launched Feature Modularity Platform Services Embedded Marketing Services AI-Driven Risk Management Modularity; Alpha Odds Third-Party Risk Management KPIs +26% Turnover MTS Turnover TTM 11% Trading Margin Generated for clients TTM $2.5 Billion Turnover Generated during World Cup 353 Million Tickets Processed for clients during World Cup
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8 Official Sports Data & Live Odds Fast, reliable, accurate data to ensure timely settlement of pre-game and in- play markets. Industry-Leading Integrity Services UFDS AI & Sportradar Integrity Exchange, establishing a robust framework. Fan Engagement Solutions Dynamic, real-time content, including scores, schedules, and data visualizations, designed to drive deeper engagement. Customer Acquisition Services Acquisition and retention powered by proprietary turnkey marketing solution. → First of its kind agreement to power Kalshi’s global sports prediction market offering → Includes comprehensive portfolio of products & services, including official real-time data → Opportunity to enter into agreements directly with market makers & brokers ENTERED STRATEGIC PARTNERSHIP WITH KALSHI
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SPORTRADAR PREDICTION SERVICES POWERING THE PREDICTION MARKET ECOSYSTEM Official Sports Data & Odds Fan Engagement Tools & Visualizations Integrity Services EXCHANGES (DCM)BROKERS (FCM) Official Sports Data Odds Ultra-low Latency Data & Video Feeds MARKET MAKERS / LIQUIDITY Clearing House (DCO) Customer Acquisition & retention Visualization Tools Integrity Services Customer Acquisition & Retention 9 LeaguesClients
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EXPANDING PLAYRADAR iGAMING OFFERING Creating differentiated entertainment experiences that seamlessly connect sports betting and iGaming LIVE Michigan New Jersey Q3 Ontario Q4 Italy Spain Sports hybrid (World Cup game) Sports hybrid (Cricket Roulette) Alberta Denmark Update game: Ted and Ted bot hare (Maria to supply) 10
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< < << < < < < FINANCIAL RESULTS
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KEY QUARTERLY TAKEAWAYS 12 DELIVERED STRONG REVENUE AND PROFITABILITY CONSOLIDATED ADJUSTED EBITDA (€MM) AEBITDA margin (%) 20.1% RoW U.S. 72% 28% CONSOLIDATED REVENUE (€MM) ▲ 19% ROW1 US ▲ 19% 73% 27% 19.5% 1 Share of revenue from Rest of World and United States • Achieved strong second quarter revenue of €378mm, up 19%, due to strong uptake of IMG content, continued upsell to existing clients and the addition of new clients in adjacent markets, partially offset by FX headwinds. • Grew Adjusted EBITDA 19% YoY to €76mm, driven by higher revenue and operating leverage, most notably due to lower adjusted personnel expenses. • Expanded Adjusted EBITDA margin to 20.2%.▲ 15% 72% 28% 74% 26% 20.2% 19.6% ▲ 16%
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13 SUMMARY OF REVENUE TO ADJUSTED EBITDA (€MM) Q2 2025 Q2 2026 Revenue 318 378 Sport rights expense (106) (138) Adjusted purchased services1 (44) (52) Adjusted personnel expenses1 (80) (77) Adjusted other operating expenses1 (24) (35) Adjusted EBITDA 64 76 Adjusted EBITDA margin (%) 20.1% 20.2% 1 Non-IFRS financial measure; see the Appendix for defined terms and reconciliations of non -IFRS measures and operating metric to IFRS measures. Includes the acquisition of IMG as of November 1st, 2025.
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• Betting Technology and Solutions revenue increased 21% YoY, primarily driven by: • Betting and Gaming Content grew €55 million or 27%, benefiting from contributions from IMG, uptake of our content and products from both new and existing customers, partially offset by FX headwinds. • Managed Betting Services were in line with the prior year as higher Managed Trading Services revenue, due to higher turnover and trading margins, were offset by lower platform business revenues. KEY QUARTERLY TAKEAWAYS 14 BETTING TECHNOLOGY & SOLUTIONS REVENUE (€MM) ▲ 21% ▲ 18%
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15 SPORTS CONTENT, TECHNOLOGY & SERVICES REVENUE (€MM) KEY QUARTERLY TAKEAWAYS ▲ 9% • Sports Content, Technology and Services revenue increased 9% YoY, primarily driven by: • Marketing and Media Services increased €6 million, or 16% YoY, due to contributions from new and existing media and technology customers, as well as increased affiliate marketing spend. • Integrity Services increased during during the quarter, while Sports Performance declined due primarily to the impact of foreign currency movements. ▲ 2%
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• Sport rights expenses were €138 million, up €32 million or 30% YoY, primarily driven by the addition of IMG content. • Adjusted purchased services, were up 20% driven by higher cloud costs, and the inclusion of IMG. 16 SPORT RIGHTS EXPENSES AND PURCHASED SERVICES ADJUSTED PURCHASED SERVICES (€MM) SPORT RIGHTS EXPENSES1 (€MM) ▲ 30% 1 See the Appendix for non-capitalized sport rights expenses and amortization of capitalized sport rights components. KEY QUARTERLY TAKEAWAYS ▲ 20% ▲ 24% ▲ 12%
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17 PERSONNEL EXPENSES AND OTHER OPERATING EXPENSES ADJUSTED PERSONNEL EXPENSES (€MM) ADJUSTED OTHER OPERATING EXPENSES (€MM) KEY QUARTERLY TAKEAWAYS • Adjusted personnel expenses were €77 million, down €3 million or 4% YoY, as we begin to realize the benefits of the cost efficiency initiatives while closely managing headcount to support the most profitable growth opportunities. • Adjusted other operating expenses were €35 million, an increase of 42% YoY driven by costs related to Brazil as well as legal expenses due in part to supporting adjacent market growth opportunities. ▲ 42% ▲ ▲ 1%(4)% ▲ 29%
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ADJUSTED EBITDA MARGIN & ADJUSTED EXPENSES AS A % OF REVENUE 18 COST PROFILE AND DRIVERS OF OPERATING LEVERAGE • Achieved Adjusted EBITDA margin expansion of 10 basis points in 2Q26, driven by revenue growth as well as lower adjusted personnel costs. • Projecting 70 to 100 basis points of adjusted EBITDA margin expansion in 2026 driven by top line growth and a focus on cost efficiencies. • Significant opportunity to unlock operating leverage beyond 2026 with long-term Adjusted EBITDA margin target of 30%+, given visibility on sport rights cost and focus on managing our cost infrastructure. KEY TAKEAWAYS
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19 LONG-TERM SPORTS RIGHTS DEALS PROVIDE COST VISIBILITY • Disciplined and strategic, with a diverse portfolio of exclusive global sports content, including basketball, baseball, soccer, hockey and tennis. • Secured major sports contracts long term, providing significant visibility on key part of our cost structure. • Recently extended Wimbledon for exclusive global distribution of official data and audiovisual betting rights. • With MLB, NBA and NHL, have secured 3 of top 4 U.S. sports, representing ~70% of the betting GGR for the top 4 sports. • Runway to innovate and grow our product offering driving our product and content ROI. Average term remaining for major contracts1 1. Select Sports Rights Contracts by League (in years) ~4 yrs
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20 STRONG CASH GENERATION AND LIQUIDITY POSITION 251 Cash and cash equivalents Total Liquidity (€MM) Revolver 220 250 501 585 KEY TAKEAWAYS • Generated €103 million in Free cash flow year- to-date, up 23% YoY, translating to 73% conversion rate. • Strong balance sheet with no debt outstanding. • Upsized revolving credit facility to €250 million, lowering fees and extending maturity to 2031. • Total liquidity of €501 million, comprised of €251 million cash and cash equivalents and €250 million undrawn revolver. • Repurchased $140 million of shares in 2Q26 and $422 million since plan inception1. • Anticipate continued strong cash generation in 2026 and beyond, including approximately $100 million of cash to be received as part of the IMG transaction. Free Cash Flow (€MM) 365 68%FCF Conversion 73% 1. Share repurchases through July 31, 2026
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21 FY2026 OUTLOOK Revenue €1,290 million Adjusted EBITDA €297 million €360 to €368 Adjusted EBITDA margin 23.0% 23.7% to 24.0% Metric (€MM) 2025 Actual Free cash flow Conversion3 56% >56% €1,518 to €1,533mm Updated 2026 Guidance Guidance2 (Currency Impacted) Note: 1 Non-IFRS financial measure; see the Appendix for defined terms and reconciliations of non -IFRS measures to IFRS measures. 2. Includes expected foreign currency impact. 3. Guidance excludes the impact of non-routine litigation costs 19% to 21% 24% to 27% 90 to 120 bps expansion Constant Currency Growth1 >56%
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< < < < < << < APPENDIX
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23 NON-IFRS FINANCIAL MEASURES AND OPERATING METRIC We have provided in this press release financial information that has not been prepared in accordance with IFRS, including Adjusted EBITDA, Adjusted EBITDA margin, Constant Currency metrics, Adjusted purchased services, Adjusted personnel expenses, Adjusted other operating expenses, Free cash flow, and Free cash flow conversion, as well as our operating metric, Customer Net Retention Rate. We use these non-IFRS financial measures internally in analyzing our financial results and believe they are useful to investors, as a supplement to IFRS measures, in evaluating our ongoing operational performance. We believe that the use of these non-IFRS financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing our financial results with other companies in our industry, many of which present similar non-IFRS financial measures to investors. Non-IFRS financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with IFRS. Investors are encouraged to review the reconciliation of these non-IFRS financial measures to their most directly comparable IFRS financial measures provided in the financial statement tables included below in this press release. • “Adjusted EBITDA” represents earnings for the period adjusted for finance income and finance costs, income tax expense or benefit, depreciation and amortization (excluding amortization of capitalized sport rights licenses), foreign currency gains or losses, and other items that are non-recurring or not related to the Company’s revenue-generating operations, including share-based compensation, restructuring costs, non-routine litigation costs, secondary offering costs, and certain transaction-related costs. License fees relating to sport rights are a key component of how we generate revenue and one of our main operating expenses. Only licenses that meet the recognition criteria of IAS 38 are capitalized. The primary distinction for whether a license is capitalized or not capitalized is the contracted length of the applicable license. Therefore, the type of license we enter into can have a significant impact on our results of operations depending on whether we are able to capitalize the relevant license. As such, our presentation of Adjusted EBITDA reflects the full costs of our sport rights licenses. Management believes that, by including amortization of sport rights in its calculation of Adjusted EBITDA, the result is a financial metric that is both more meaningful and comparable for management and our investors while also being more indicative of our ongoing operating performance. We present Adjusted EBITDA because management believes that some items excluded are non-recurring in nature and this information is relevant in evaluating the results relative to other entities that operate in the same industry. Management believes Adjusted EBITDA is useful to investors for evaluating Sportradar’s operating performance against competitors, which commonly disclose similar performance measures. However, Sportradar’s calculation of Adjusted EBITDA may not be comparable to other similarly titled performance measures of other companies. Adjusted EBITDA is not intended to be a substitute for any IFRS financial measure. Items excluded from Adjusted EBITDA include significant components in understanding and assessing financial performance. Adjusted EBITDA has limitations as an analytical tool and should not be considered in isolation, or as an alternative to, or a substitute for, profit for the period, revenue or other financial statement data presented in our consolidated financial statements as indicators of financial performance. We compensate for these limitations by relying primarily on our IFRS results and using Adjusted EBITDA only as a supplemental measure. • “Adjusted EBITDA margin” is the ratio of Adjusted EBITDA to revenue. The Company is unable to provide a reconciliation of Adjusted EBITDA to profit (loss) for the period, or Adjusted EBITDA margin to Profit (loss) for the period as a percentage of revenue (in each case, the most directly comparable IFRS financial measure) on a forward-looking basis without unreasonable effort because items that impact these IFRS financial measures are not within the Company’s control and/or cannot be reasonably predicted. These items may include, but are not limited to, foreign exchange gains and losses. Such information may have a significant, and potentially unpredictable, impact on the Company’s future financial results.
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24 NON-IFRS FINANCIAL MEASURES AND OPERATING METRICS • "Constant Currency" information compares results between periods as if exchange rates had remained constant. As the impact of exchange rate fluctuations can be highly variable, we believe these metrics, unaffected by exchange rate variability, provide meaningful insights to investors into our operational performance and underlying business trends. The Company is unable to provide a reconciliation of constant currency measures to their comparable IFRS measures on a forward-looking basis without unreasonable effort because future exchange-rate movements that impact these measures are not within the Company’s control and/or cannot be reasonably predicted. Such information may have a significant, and potentially unpredictable, impact on the Company’s future financial results. We present Adjusted purchased services, Adjusted personnel expenses, and Adjusted other operating expenses (together, "Non-IFRS expenses") because management utilizes these financial measures to manage its business on a day- to-day basis and believes that they are the most relevant measures of expenses. Management believes these adjusted expense measures provide expanded insight to assess revenue and cost performance, in addition to the standard IFRS- based financial measures. Management believes these adjusted expense measures are useful to investors for evaluating Sportradar’s operating performance against competitors. However, Sportradar’s calculation of adjusted expense measures may not be comparable to other similarly titled performance measures of other companies. These adjusted expense measures are not intended to be a substitute for any IFRS financial measure. • “Adjusted purchased services” represents purchased services less capitalized external development costs and certain transaction-related costs. • “Adjusted personnel expenses” represents personnel expenses less share-based compensation awarded to employees, restructuring costs, and capitalized personnel compensation. • “Adjusted other operating expenses” represents other operating expenses plus impairment loss on trade receivables, less non-routine litigation, share-based compensation awarded to third parties, secondary offering costs, and certain transaction-related costs. We consider Free cash flow and Free cash flow conversion to be liquidity measures that provide useful information to management and investors about the amount of cash generated by the business after the purchase of property and equipment, the purchase of intangible assets and payment of lease liabilities, which can then be used, among other things, to invest in our business and make strategic acquisitions, as well as our ability to convert our earnings to cash. A limitation of the utility of Free cash flow and Free cash flow conversion as measures of liquidity is that they do not represent the total increase or decrease in our cash balance for the year. • “Free cash flow” represents net cash from operating activities adjusted for payments for lease liabilities, acquisition of property and equipment, and acquisition of intangible assets. • “Free cash flow conversion” represents Free cash flow as a percentage of Adjusted EBITDA. The Company is unable to provide a reconciliation of Free cash flow to net cash from operating activities or Free cash flow conversion to net cash from operating activities as a percentage of profit (loss) for the period (in each case, the most directly comparable IFRS financial measure) on a forward-looking basis without unreasonable effort because items that impact these IFRS financial measures are not within the Company’s control and/or cannot be reasonably predicted. These items may include, but are not limited to, changes in working capital, the timing of customer payments, the timing and amount of tax payments, and other items that are non-recurring or unusual. Such information may have a significant, and potentially unpredictable, impact on the Company’s future financial results. In addition, we define the following operating metric as follows: • “Customer Net Retention Rate” is calculated for a given period by starting with the reported Trailing Twelve Month revenue from our top 200 customers as of twelve months prior to such period end, or prior period revenue. We then calculate the reported trailing twelve-month revenue from the same customer cohort as of the current period end, or current period revenue. Current period revenue includes any upsells and is net of contraction and attrition over the trailing twelve months but excludes revenue from new customers in the current period. We then divide the total current period revenue by the total prior period revenue to arrive at our Net Retention Rate.
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25 P&L AND ADJUSTED EBITDA RECONCILIATION (Unaudited) Three-Month Period Ended June 30, (Unaudited) Three-Month Period Ended June 30, in €'000 2026 2025 in €'000 2026 2025 Revenue 377,815 317,790 (Loss) profit for the period (3,517) 49,117 Personnel expenses (109,034) (101,781) Finance income (2,313) (2,289) Sport rights expenses (including amortization of capitalized sport rights licenses) (137,752) (106,194) Finance costs 23,378 21,141 Purchased services (54,286) (48,124) Depreciation and amortization (excluding amortization of capitalized sport rights licenses) 21,336 17,131 Other operating expenses (36,746) (28,740) Foreign currency loss (gain), net 9,129 (53,848) Impairment loss on trade receivables, contract assets and other financial assets (578) (1,595) Share-based compensation 15,893 14,530 Internally-developed software cost capitalized 8,243 12,234 Restructuring costs 10,678 — Depreciation and amortization (excluding amortization of capitalized sport rights licenses) (21,336) (17,131) Non-routine litigation costs 790 2,788 Foreign currency (loss) gain, net (9,129) 53,848 Transaction-related costs 1,246 1,470 Finance income 2,313 2,289 Income tax (benefit) expense (351) 12,338 Finance costs (23,378) (21,141) Adjusted EBITDA 76,269 63,838 Net (loss) income before tax (3,868) 61,455 Income tax benefit (expense) 351 (12,338) (Loss) profit for the period as a percentage of revenue (0.9) % 15.5 % (Loss) profit for the period (3,517) 49,117 Adjusted EBITDA margin 20.2 % 20.1 %
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IFRS EXPENSES TO NON-IFRS EXPENSES BRIDGE (Unaudited) Three-Month Period Ended June 30, in €'000 2026 2025 Non-capitalized sport rights expenses 37,533 31,685 Amortization of capitalized sport rights 100,219 74,509 Total sport rights expenses 137,752 106,194 Purchased services 54,286 48,124 Less: capitalized external services (1,907) (4,447) Less: transaction-related costs (15) — Adjusted purchased services 52,364 43,677 Personnel expenses 109,034 101,781 Less: share-based compensation (16,149) (15,181) Less: restructuring costs (10,678) — Less: capitalized personnel compensation (5,374) (6,913) Adjusted personnel expenses 76,833 79,687 Other operating expenses 36,746 28,740 Less: non-routine litigation (790) (2,788) Less: share-based compensation (706) (223) Less: transaction-related costs (1,231) (1,470) Add: impairment loss on trade receivables 578 1,595 Adjusted other operating expenses 34,597 24,394 26
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FREE CASH FLOW RECONCILIATION (Unaudited) Six-Month Period Ended June 30, in €'000 2026 2025 Net cash from operating activities 225,898 199,595 Acquisition of intangible assets (113,313) (109,284) Acquisition of property plant and equipment (5,416) (2,255) Payment of lease liabilities (3,875) (3,972) Free cash flow 103,294 84,084 Net cash from operating activities conversion (2,304) % 272 % Free cash flow conversion 73 % 68 % 27