December 2018

SAZKA GROUP

CORPORATE PRESENTATION

SAZKA Group: Europe’s largest lottery company

• Largest Pan-European lottery group

• Primary focus on lotteries with a secondary focus

on digital and sports betting

• Presence in Czech Republic, Greece, Cyprus, Austria,

Italy and Croatia with leading position in each

market supported by iconic and trusted brands

and unrivalled distribution networks

• Long-term licences provide us with significant

renewal advantages

• 100% of our gaming revenue is regulated, and

approved by numerous regulators worldwide including

the EU, Switzerland and Australia.

• Entrepreneurial ownership: KKCG (75%) and

EMMA Capital (25%)

SAZKA Group at a glance Group key operating statistics

Source: Company and H2 Gambling Capital 2018.1 Based on no. of years SAZKA Czech, OPAP, CASAG and LOTTOITALIA have offered lottery services; and SuperSport obtained its sports betting license.2 Amounts staked placed with companies in which the SAZKA Group holds an ownership interest (2017PF).3 Total headcount in companies in which SAZKA Group holds an ownership interest (Company information 2017, CASAG, 2016).4 Total addressable market of adult population.

2

Approximately

65,000POS network (2017)

~€17bn Amounts staked2

4 of 5 SAZKA Group

businesses established

+25 years ago1

100% of revenue regulated

~ 7kEmployees3 (2017)

~€7 Contributed

to society for each

€1 of profit

82 million+Potential customer base4

#1 playerin each of its core markets

Lottery focused business mix, geographically diversified

• Primary focus on lotteries (78%) with a secondary focus on digital (12%) and retail betting (8%)

• Balanced mix with no geography exposure of more than 30%

Product split Geographical split

2017 EBIT PF weighted by economic interest attributable to SAZKA Group

12%

8%

78%

2%

Retail BettingLotteries Digital Other

3

19%

18%

30%

12%

21%

Czech Republic ItalyGreece & Cypruss Austria Croatia

Leader in all key Continental European countries where lotteries are privately operated

Source: Company information, European Lottery association.Note: Croatia lottery market is state owned and operated. Albania is privately operated.

4

Geographic footprint

Private lotteries (SAZKA Group present)

State/Non-profit organizations

#1 lottery company in Greece and Cyprus• Exclusively operates the

national lottery, numerical

lottery, instant lottery, land-

based sports betting, VLTs and

horse racing

• 12,944 POS

• Management & board control

#1 numerical lottery operator in Italy• Exclusive licence for Lotto

• 33,920 POS

• Minority shareholder with strong

governance and operating rights

#1 lottery operator in the Czech Republic• On-line entertainment hub

platform (lotteries, online

gaming and sports betting)

• 11,487 POS

#1 Croatian sports-betting and online casino operator• Sports-betting licence since

2000

• 100% regulated

• 1,151 POS

• Management & board control

#1 lottery operator in Austria• Exclusive lottery licence and

operator of casinos

• Other gaming operations include

sports betting, VLT and online

gaming

• 5,131 POS

SuperSport (sports betting)

100.0%

38.0%

32.5%

67.0%

23.7%

Private lotteries (SAZKA Group not present)

Significant player at an attractive and growing lottery market

Lottery Gross Gaming Revenue

(GGR) 2017€34bn€104bn €8bn

World

2017 Lottery GGR by Region

Rest of the World68%

EU 2832%

SAZKA Group

countries1

24%

Global Lottery GGR€104bn

EU 28 Lottery GGR€34bn

Lottery GGR CAGR (2017-

22e)1.7%2.1% 3.4%

Source: H2 Gaming Capital 2018.1 Countries in which SAZKA Group operates lotteries i.e. Czech Republic, Cyprus, Greece, Italy, Austria.

5

Strong M&A and organic growth track record

6

1 Amounts staked placed with companies in which the SAZKA Group holds an ownership interest. Amounts Staked includes (on a full-year basis): 2012 (SAZKA Czech), 2013 and 2014 (SAZKA Czech & OPAP), 2015 (SAZKA Czech, OPAP & Casinos Austria Group), 2016 (SAZKA Czech, OPAP, Casinos Austria Group, LOTTOITALIA), and 2017 (SAZKA Czech, OPAP, Casinos Austria Group, LOTTOITALIA and SuperSport). SAZKA Czech figures as per average of year exchange rate as per Czech National Bank (2012 25.1 EUR/CZK, 2013 25.9 EUR/CZK, 2014 27.5 EUR/CZK, 2015 27.3, 2016 27.0). SAZKA Czech 2017 figures as per exchange rate of 25.70 EUR/CZK and SuperSport figures as per exchange rate of EUR/HRK 7.4637).

0.2

4.0 4.6

8.3

16.7

17.0

2012 2013 2014 2015 2016 2017

Privatisation of 33% stake in OPAP

Acquisition of 32.5% stake in LOTTOITALIA(JV with Lottomatica)

Acquisition of 67% stake in SuperSport

2011 2013 2015 2016 2017 2018

Acquisition ofSAZKA Czech

Acquisition of11.4% indirect stake in

Casinos Austria

Acquisition of an indirect 11.6% stake in Austrian

Lotteries

Acquisition of additional share capital of CASAG, taking total

indirect stake to 38%

Amounts staked1 growth driven both organically and by acquisitions

€ bn

84% share of

numerical lotteries

43% share in overall

lotteries market

Leading positions across markets through iconic and trusted brands

Source: Company information, H2 Gambling Capital 2018

Note: All figure as per GGR 2017 for legal market with market size as per H2 Gambling Capital data. Figures for LOTTOITALIA market share are based on amount staked

1 Jackpot market share is part of the numerical lottery market share; 2 Company calculation based on Croatian GGR for 2017 (H2GC) and SuperSport GGR for 2017; 3 SAZKA Group

estimates for year ended 2016 based on website traffic analysis and information provided by SuperSport management. 7

Market share

100% lottery market

share

71% overall gaming

market share

100% lottery, casino,

VLTs and online lottery

/ casino market share

55% share in Sports

betting2

~60% share in online

casino market3

94% numerical

lottery market share

100% Jackpot

lotteries market share1

80% instant lottery

market share

Numerical lotteries

Instant lotteries

Sports betting

VLTs & casinos

Key b

ran

ds

Source: Company information, Eurostat.1 Post office and petrol stations figures refer to total number of post offices and petrol stations in the respective countries. Not owned by SAZKA Group. For comparison reasons only.2 2015 figures. 3 2016 figures. 4 As per Hrvatska posta company website. 5 No. of Petrol Stations in Croatia in 2015 per UPEI report 2015. 6 SAZKA Czech type of POS breakdown as of 31/12/2017, OPAP type of POS breakdown as of 31/12/2017, fixed shops not including street vendors; CASAG figures as per last reported 2016; LOTTOITALIA figures as per 2016 ADM Libro Blu report. 7 Pre-selected combination of lottery tickets for sale in supermarkets (PENNY, COOP, TESCO) and in Czech Post, no terminal, cash-register embedded. 8 SuperSport operates also one Casino and two gaming arcades with slots.

8

• All products delivered via POS network or digital channels

• Asset-light business model

• Long-term relationships with 3rd party retailers

• Growing, profitable category for retailers with no/limited inventory and space allocation

• Unique exclusive franchise shops network in Greece

Key highlights

POS1

Sazka

POS

Post

office

Petrol

stations

11,487

3,868 3,906

3 OPAP

POS

Post

office

Petrol

stations

12,944

2,530

6,150

2 Lotto

italia POS

Post

office

Petrol

stations

33,920

13,048

20,750

2

Super-

sport POS

Post

office

Petrol

stations

1,151

~8001,016

CASAG

POS

Post

office

Petrol

stations

5,131

2,6701,792

3 4 5

Digital and mobile

Type ofPOS6,8

News agent independent

News agent chains

Czech Post

Petrol stations

Lottery Inside7

24%

12%

16%

14%

35%

Agencies Greece

34%

Tobacco shops

Bar / coffee shops

75% 25%

Tobacco shops

Petrol stations

Others

46% 17% 37%

Brick/mortar betting shops

SSBTs in third party bars/cafes

30% 70%63%

2%

2%

Agencies Cyprus

Play Gaming HallsInstant & Passive street vendors & third party

Unique distribution network with unparalleled customer reach

Cro

ati

aIta

lyG

reece

Au

str

iaC

zech

2018 2020 2022 2024 2026 2028 2030 2032+

1 Six out 12 casinos licenses expire in 2030.

9

Num. Lotteries

Inst. Lotteries

VLTs

Online

Horse racing

Sports betting

12

8

17

12

1812

Lotteries

Domestic casinos 121

9

7

Sports betting 7

Land & online casino games 8

4

Long-term licences with unblemished renewal history

Successful licence renewals since 1956

National gaming operator

since 1958, fully privatised

in 2013

Lottomatica (SAZKA Group’s JV partner) has held exclusive licence since 1993

Exclusive lottery licence since 1986

Sportsbook licence since 2000

GGR

€m

EBITDA

€m

5% 2%

11%

50%4%

11% 8% 15% 72%

10

Source: Annual reports, SAZKA Group.1 For LOTTOITALIA, represents Amounts Staked (and not Gross Gaming Revenue).

Since our ownership

121

206

2012 2017

% CAGR

36

61

2012 2017

2013 2017 2015 2017

51

76

2016 2017

222

306

2013 2017

134

176

2015 2017

27

47

2016 2017

1,220

1,456 1,2281,284

342

2013 2017

2013 2017

n.a.

6,333

7,481

Historical Information

1

Track record of resilient growth

SAZKA Group entrenched in societies where it operates

Source: Company information.1 Includes gaming taxes, amortisation of licence fees and corporate taxes.

11

Key highlightsImportant contributor to the local economy1

35

61

2012 2017

74%

408

611

2013 2017

+50%

2013 2017

1,5431,874

+21%

535653

2013 2017

+22%

SAZKA OPAP

LOTTOITALIA CASAG

• Important contributor to society in the

form of mandatory taxes / levies

• Contribution to good causes

• Czech Olympic Committee, OPAP

Sports Academies Program, and the

Austrian Special Federal Sports Fund

• OPAP is one of the highest taxpayers

in Greece

• SAZKA Czech and CASAG are among

the 10 largest taxpayers in Czech

Republic and Austria, respectively

• Responsible Gaming principles applied,

confirmed by Responsible Gaming

Certificates received from World Lottery

Association (WLA) and / or European

Lotteries Association (EL)

• Significant and consistent contribution to

employment - SAZKA Group directly

employs around seven thousand people

25% ownership75% ownership

Entrepreneurial owners with a long-term gaming focus

• EMMA Capital is a multinational investment group

specializing in particular on retail and consumer oriented

industries including lotteries and gaming

• EMMA Capital is the managing shareholder of the Home

Credit Group, one of the largest consumer finance

companies in the world with operations in 10 countries and

biggest consumer company in China

• Other investments alongside SAZKA Group and Home Credit

include hospitality and energy assets

• KKCG is a multinational investment group specializing in the

acquisition and development of strategic portfolios with a

particular long-term focus on gaming and entertainment

• KKCG holding is incorporated in Switzerland with more than

25 portfolio investment companies located in 10 countries

including Austria, Czech Republic, Greece, Italy, Israel,

Russia, Ukraine, USA and others

• The group's long-term investment strategies focus on

energy, chemicals, lotteries, tourism, information

technologies and real estate

12

Katarina Kohlmayer

KKCG CFO

Karel KomárekKKCG Founder and sole shareholder,

SAZKA Group Chairman

Pavel ŠarochKKCG CIO

Jiří ŠmejcFounder of EMMA Capital,

SAZKA Group Deputy Chairman

Pavel HorákEMMA Capital CIO

13

• Robert led the team

responsible for SAZKA’s

turnaround, which has

become one of the fastest

growing lottery companies

globally

• Serves as 1st Vice President

of the European Lotteries

• Previously served as CEO of

T-Mobile Slovakia and

T-Mobile Austria

• Studied Business

Administration at Prague

University of Economics

Robert ChvátalChief Executive Officer

SAZKA Group

Peter StohrChief Financial Officer

SAZKA Group

Štěpán DlouhýChief Investment Officer

SAZKA Group

• Peter has a long track record

in finance

• Joined SAZKA Group from

PPF Group and EMMA

Capital, where he was

responsible for direct

investments

• Previously served as Vice

President with Citi Private

Equity in London, Salomon

Smith Barney and Arthur

Andersen

• MBA from Columbia

Business School and London

Business School

• Štěpán leads M&A and

strategic business

development

• Led acquisition of CASAG,

LOTTOITALIA, SuperSport

and bids for Tipico and

Turkish National Lottery

• Štěpán was Investment

Director at KKCG covering

investments in the gaming

and telecom sectors

• Joined KKCG from Chayton

Capital, a London-based PE

• Masters in Finance from

Prague University of

Economics

Experienced management team committed to bringing innovation to the gaming sector

Radek VáňaGeneral CounselSAZKA Group

• Radek is responsible for the

supervision of all legal and

corporate matters within

SAZKA Group

• Joined SAZKA Group from

KAZ Minerals (formerly an

FTSE 100 constituent) where

he was Chief International

Counsel

• Previously also worked as

senior lawyer at

Allen & Overy

• Holds Master in Law from

Charles University in Prague

Tony KhatskevichChief Technology Officer

SAZKA Group

• Tony leads SAZKA Group’s

technology and innovation

strategy

• Has global experience from

Israel, US, and Estonia

• From 2012 Tony served as

Vice President for Playtech,

the world´s largest online

gaming solutions supplier

• Holds Master and Doctor

degrees in Computer

Science and Mathematics

from Tbilisi State University,

Georgia

Shift to digitalgaming

Expanding lottery product portfolio

Diversification to additional

gaming verticals

Expansion into sports

betting

Distribution network and marketing

Procurement

TechnologyOrganisation

• New online

gaming

legalisations

favourable to

onshore

operators

• Leverage

existing online

sport betting

platforms to

cross-sell to

other online

gaming verticals

• Leverage

extensive POS

network

coverage to

broaden product

offering

• Expand the

distribution

reach with

additional

terminals and

with pre-

selected

combinations of

lottery tickets

• Reduce cost

base and

increase

operational

efficiency

• Continue digital

transformation

• Efficient

corporate

governance

• Value adding

parenting role

of group

• Invest in

technological

support for

online business

growth

• Invest into CRM

for online

platforms

• One of the

largest

customers for

technology

providers with

strong

purchasing

power

• Synergies in

equipment

sourcing

working with

multiple

providers

• Grow lottery

GGR per adult

above European

average levels

• New lottery

product

portfolio

innovations

• Utilise brand

and wide

distribution

network to

expand in other

segments

• Capture greater

market share in

sports betting

• Exploit potential

of cross-selling

to other online

gaming verticals

• VLTs, gaming

machines and

Casinos

• Take advantage

of anticipated

stricter

regulations on

gaming

machines

14

Organic growth avenues

Contacts

London Office1 Connaught PlaceLondon W2 2ETUnited Kingdom

Radek NemecekIR & PR Manager +420 727 982 885radek.nemecek@sazkagroup.com

www.sazkagroup.com

Prague OfficeVinohradska 1511/230100 00 Prague 10Czech Republic