Nordea Small/Mid Cap SeminarAugust 16, 2018

Achievements

NetEnt selected achievementsVISION

“Driving the digital casino market through better

gaming solutions”

2011

MobileGames

Italyregulatedentry

Denmarkregulatedentry

20122013-14

Live Casinolaunched

Several UKcustomerssigned

2015

License inUK & Spain

EnteringNew Jersey& Spain

2016

EnteringRomania, Bulgaria & Portugal

WLAMember

2017

Live CasinoMobile Offering

ProgrammaticMarketing Service

Many years of solid performance

153 180262

397519 582

29,1% 28,5%

30,7%

35,0%35,9% 35,6%

20%

22%

24%

26%

28%

30%

32%

34%

36%

38%

-

100

200

300

400

500

600

700

2012 2013 2014 2015 2016 2017

SEKmEBIT AND EBIT MARGIN %

EBIT

CAGR 2012-17:

31%

Current State

GEOGRAPHIC DIVERSIFICATION

14%

20%

15%

42%

9%

GAMEWIN, Q2 2017

Sweden Other Nordic UK Other European Rest of world

Distribution Network

14%

17%

15%

46%

9%

GAMEWIN, Q2 2018

Sweden Other Nordic UK Other European Rest of world

REVENUES FROM

Locally Regulated Markets

36%64%

Locally regulated Non-locally regulated

• 36 (32)% of revenue from locally regulated markets

• UK and Italy key markets in Europe• Swedish regulation starts 1/1/2019• North America

• Applying for license in Pennsylvania• Target go-live in British Columbia in Q3

GAMEWIN SPLIT Q2 2018

DIVERSIFIED CUSTOMER BASE

Around 200 customers

21%

27%

17%

17%

17%

FY 2017 GAMEWIN SPLIT BY CUSTOMERS

Customer 1-3 Customer 4-10 Customer 11-20 Customer 21-40 Other customers

• Revenues +5.9% YoY in SEK in Q2-18

• Revenues -0.8% YoY in EUR

• Operating margin of 34.0 (35.6)%

Revenue and Operating ProfitBY QUARTER

347 354

399 393413 405

425 430 437

0

50

100

150

200

250

300

350

400

450

500

Q2/16 Q3/16 Q4/16 Q1/17 Q2/17 Q3/17 Q4/17 Q1/18 Q218

SEKm

Revenues Operating profit

• L12M revenues of 1,697 SEKm in Q2-18

• L12M EBIT of 591 SEKm

• L12M EBIT margin of 34.8%

Revenue and Operating ProfitLAST ROLLING 12 MONTHS

1 2941 367

1 444 1 4931 559 1 610 1 636 1 673 1 697

0

200

400

600

800

1 000

1 200

1 400

1 600

1 800

Jun-16 Sep-16 Dec-16 Mar-17 Jun-17 Sep-17 Dec-17 Mar-18 Jun-18

SEKm

Revenues Operating profit

114

244

338390

423

0

60

120

180

240

300

360

420

480

2013 2014 2015 2016 2017

SEKm

CASH FLOW AFTER INVESTMENTS, LAST 5 YEARS

Free Cash flow and Balance sheet• L12M FCF of 548 SEKm (30/06/18)• Net cash position of 195 SEKm

at 30/06/18• 2017 cash return yield of

6.3 percent at current share price

2.2%

1.9%

1.6%

3.2%

6.3%

% %Cash distribution divided by share price at year-end

Cash distribution divided by share price on 10th August 2018

Action taken to cut overhead costsCOST STRUCTURE

• Actions being taken to cut overhead costs

• Sub-letting of office floorin Stockholm

• Reduce number ofconsultants

• Savings will enablegrowth-driving initiatives

• D&A will increase in 2018 vs 2017

SEKm

Cost vs Revenue GrowthBY QUARTER

0%

5%

10%

15%

20%

25%

30%

35%

40%

Q2/16 Q3/16 Q4/16 Q1/17 Q2/17 Q3/17 Q4/17 Q1/18 Q218

YoY change

Revenues Costs Costs (excluding D&A)

Strategy

OPERATORSHARE

TIME TOMARKET

PREMIUM QUALITY & INNOVATION

OPERATIONAL EXCELLENCE

REGULATEDMARKETS

NEW CUSTOMERS

PRODUCTDEVELOPMENT

LIVECASINO

AMERICASiGAMING

MEDIA BUYINGSERVICES

SOCIALCASINOASIA

The Future

Market Overview

Source: H2 Gambling Capital

OFFLINE TO ONLINE

GLOBALMARKET

ONLINECASINO MOBILE

5% Onlinecasino

€10.5bnGamewin

+7.3% CAGR to €15bn 2022

+13.3% CAGR 2017-2022

Key for GrowthMOBILE GAMING

-

5

10

15

20

25

30

35

2013 2014 2015 2016 2017 2018E 2019E 2020E 2021E 2022e 2023E

GLOBAL MOBILE GAMBLING MARKET GAMEWIN – ALL VERTICALS (€BN)

Source: H2 Gambling Capital

CAGR 2017-2022E:

13.3%

A sustainable businessSUSTAINABILITY AT NETENT

Responsible Gaming

Anti Corruption & AML

Corporate Citizenship

Diversity and EqualityEnvironment

Sustainable Regulation

Investment Case Summary

STRUCTURALMARKET GROWTH

STRONGMARKETPOSITION

in Europe

SCALABLEBUSINESS

MODEL

STRONGCASH FLOW

FINANCIAL TARGETS