fortunagroup.eu

Analyst Conference Call 9th November 2017

Nine Months 2017 Financial Results

FORTUNA ENTERTAINMENT GROUP N.V.

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Agenda

2

1

2

3

Introduction

9M 2017 Key Highlights

9M 2017 Financial Results

2017 Outlook & Guidance Update4

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Introduction

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Fortuna Entertainment Group’s Strategic FrameworkOur Recipe for Transformation

VISIONFortuna the No.1 licensed sports betting & gaming operator in CEE with the

most trusted and exciting multi-channel betting & gaming brands

Mission

CompetitiveAdvantage

Strategic initiatives

By end of 2019 we will…

… be the No.1licensed betting & gaming operator in

CEE (5 markets)

… have the most trusted & exciting betting & gaming

brands

… have entered into at least one additional

CEE market

… be a regional leader on both GW and

EBITDA basis

INNOVATION MULTI-CHANNEL

CUSTOMER EXPERIENCE FINANCIAL PERFORMANCE

Multichannel

Retail network

Brand

Established position

BI & Analytics driven People

Local Customer Service

Operational Excellence

“Step-change” Value Creation

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BAU AS-IS

BAU – Operational excellence

“Step-change” value creation

2014 2015 2016 2017 2018 2019 2020 2021 2022

EB

ITD

A

SIs – Future expansion

Scalable MC/MP platform

Hattrick Sports Group

Fortbet RO Entities

Online Gaming

Regulation & Compliance

M&A / Internationalisation

SIs – Operational excellence

People management

Customer Life Cycle Mgt.

BI & KVDs

Retail

Brand

Risk Management

Low Margin products

Market liberalization

Higher Taxation

5

The Journey…3 Main Pillars & 2 Key Phases

“Building the

Foundation”

“Going for

the Vision”

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Acquisition Strategy and Key Success Factors

Consolidation of the

Romanian market to become

clear no. 1 multichannel

operator in sports betting and

gaming

Major strengthening of no. 1 position in

sports betting and gaming in CEE

Strategic expansion into markets

with solid macro fundamentals,

favourable regulatory framework

and attractive industry dynamics

5

3

4

Replication of proven business model based

on operational excellence on the back of a

cutting edge customised technology platform

1

Scalable operating model

utilising local knowledge and

group-wide best practices

2

Dedicated integration team6FEG B2BFEG B2C

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Fortuna Entertainment GroupLeading Regulated Operator in the CEE

PolandPop. 37.9 million309k registered users No. 2 market position (33%) Retail & OnlineReg. vs. offshore market:EUR 200 MM vs. EUR 1.1 BN

Czech RepublicPop. 10.5 million390k registered usersNo. 2 market position (31%)Retail & OnlineReg. vs. offshore market:EUR 780 MM vs. EUR 500 MM

SlovakiaPop. 5.4 million186k registered usersNo. 2 market position (35%)Retail & Online Reg. vs. offshore market:EUR 365 MM vs. EUR 100 MM

RomaniaPop. 19.7 millionCombined no. 1 position in retail and TOP 5 in onlineRetail & Online Reg. vs. offshore market:EUR 170 MM vs. EUR 300 MM

B2B territories- Spain- Montenegro- Bosnia & Herzegovina

CroatiaPSKPop. 4.2 million52k registered usersNo. 2 market position (25%)Retail & OnlineReg. vs. offshore market:EUR 150 MM vs. EUR 30 MM

FEG B2C FEG B2B

Regulated vs. off-shore market size indications based on management estimates and H2GC

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9M 2017 Key Highlights

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Amounts Staked growing across all markets &channels with Hattrick Sports Group and Romanian entities acquisition ensuring a further acceleration

Total Amounts Staked +69.1% yoy to EUR 1.3 billion

1

2

3

4

9

9M 2017 Key Highlights

Gross Win +54.1% yoy to EUR 185.3 million

Total EBITDA EUR 28.3 million +77.9% yoy -adjusted EBITDA EUR 31.6 million +105.6%

Net Profit EUR 7.9 million, -18.0% yoy -adjusted Net Profit EUR 14.4 million, +59.5%

5Hattrick Sports Group and Romanian entitiesacquisitions consolidated since May 2017 and Sep 1 respectively – integration in progress

6 Lottery business sold in May 2017 – reported as discontinued operations

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9M 2017 Financial Results

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Amounts Staked

EBITDA*

Revenues*

Net Profit*

11

9M 2017 Financial Results

741.6

1,029.1

5.7

600

800

1000

1200

1400

9M 2016 9M 2017

Sports Betting & Gaming Lottery Hattrick FTN Romania

+38.8%

14.4

209.6

-60.7%

74.1 89.6

20406080

100120140

9M 2016 9M 2017

Sports Betting & Gaming Lottery Hattrick FTN Romania

+21.0%

-63.1%1.95.0

29.3

3.6

15.3

7.9

-0.3-505

1015202530

9M 2016 9M 2017

FTN Romania Hattrick Lottery Sports Betting & Gaming

+35.9%

0.6

-153.8%

20.7

0.03

9.5 8.8

-202468

1012

9M 2016 9M 2017

Sports Betting & Gaming Lottery Hattrick FTN Romania

-8.1%

0.1

-0.3

(in EUR MM)

*) Revenues, EBITDA and Net Profit split between Lottery and Sports Betting & Gaming include intersegment income and expenses

34.4

+69.1% +57.3%

+77.9% -18.0%

-0.4-0.2

-451.2%

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15.3

7.9

-0.3-505

1015202530

9M 2016 9M 2017

FTN Romania Hattrick Lottery Sports Betting & Gaming

+35.9%

0.6

-153.8%

20.7

0.03

EBITDA

EBITDA adj.

Net Profit

Net Profit adj.

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9M 2017 Financial Results(in EUR MM)

EBITDA and Net profit adjusted for M&A one-offs, integration costs and intangible assets impairment; EBITDA and Net Profit split between Lottery and Sports Betting & Gaming is including intersegment income and expenses

+77.9%

14.8

9.0

-0.3-505

101520253035

9M 2016 9M 2017FTN Romania Hattrick Lottery Sports Betting & Gaming

+55.3%

0.6

-153.8%

22.9

0.03+105.6%

8.914.0

-5

0

5

10

15

20

9M 2016 9M 2017Sports Betting & Gaming Lottery Hattrick FTN Romania

+56.4%

-451.2%

0.1

-0.4

+59.5%

9.5 8.8

-202468

1012

9M 2016 9M 2017

Sports Betting & Gaming Lottery Hattrick FTN Romania

-8.1 %

0.1

-0.3

-451.2% -0.2-0.4

-18.0%

1.1

-0.3

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Gross Win

Gross Win Sports Betting & Gaming* Net Gross Win Sports Betting & Gaming*

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9M 2017 Financial Results

113.8146.4

0

50

100

150

200

9M 2016 9M 2017Sports Betting & Gaming Lottery Hattrick FTN Romania

-63.0%

4.4

32.16.4 2.4

+28.6%

75.0116.0

38.8

66.9

0

50

100

150

200

9M 2016 9M 2017

Online Retail

+72.2%

+54.8%49.4

75.3

28.1

49.6

0

25

50

75

100

125

150

9M 2016 9M 2017

Online Retail

+76.6%

+52.5%

(in EUR MM)

15.9% 14.5%

10.6% 9.9%

0%

5%

10%

15%

20%

9M 2016 9M 2017

Gross Win Margin Net Gross Win Margin

Gross Win / Net Gross Win Margin

*includes FEG, Hattrick Sports Group and Romanian sports betting & gaming (ex. Lottery); Online includes online sports betting and gaming, Retail includes retail sports betting, slots and SSBT

+54.1%

+60.7% +61.3%

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Sports Betting & Gaming by Country 9M 2017

Amounts Staked Gross Win

CR56%

SK32%

PL12%

9M 2016

CR33%

SK22%

PL25%

CP RO7%

HR11%

FTN RO2%

9M 2017

CR45%

SK22%

PL13%

CP RO5% HR

12%

FTN RO3%

9M 2017

CR44%

SK31%

PL25%

9M 2016

• Hattrick Sports Group has been consolidated since May 20th 2017 • Increasing share of Polish online business at the back of improved key value drivers driven by operational

excellence and blocking of off-shore operators • Czech Republic includes online gaming which was launched by end of February 2017• Croatia (HR) includes also Romanian (RO) online business which is licensed and operated by the Croatian entity

Hattrick PSK• CP Romania (RO) includes Casa Pariurilor retail business• FTN Romania contains newly acquired Romanian companies (Bet Zone, Bet Active Concept, Slot Arena and Public

Slots) consolidated since September 1st 2017

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Revenue Development

28.525.1 24.6 26.0

20.0 21.0 28.037.7

23.2 27.126.5

60.7

25.229.6

27.1

0

25

50

75

100

125

150

2014 2015 2016 2017

In E

UR

MM

Revenue

Q1 Q2 Q3 Q4

Consolidated Revenue incl. Lottery, Hattrick and Romania

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9M 2017 Taxes, OPEX & Net Debt

• Increase in Betting Tax due to higher betting volumes and consolidation of Hattrick and Romanian companies

• Staff OPEX increased due to inflationary increase in retail, new hires related to acquisitions and Group restructuring

• Other OPEX increased due to higher variable costs and one-off acquisition costs• Higher indebtedness as a result of Hattrick Sports Group and Romanian companies acquisition

financing

Group Taxes & OPEX Net Debt/ Debt

37.726.6

36.6

58.5

38.7

57.5

0

10

20

30

40

50

60

70

Betting Taxes Staff OPEX Other OPEX

9M 2016 9M 2017

+55.2%

+45.5%

+57.0%

1.5

32.976.9

135.0

0,0

25,0

50,0

75,0

100,0

125,0

150,0

Net Debt Debt

As of 30.09.2016 As of 30.09.2017

+5,018.1%

+310.1%

(in EUR MM)

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2017 Outlook & Guidance Update

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The Company confirms its previously announced full year guidance excl. acquisitions.

Robust Underlying Business

Continuing Strong Online Growth

Unlocking Regulatory Opportunities

Capitalising on Regulatory Change

Investments into Future Growth

Operational Excellence & Step Change Value

2017 Guidance (incl. Hattrick Sports Group and Fortuna Romania acquisitions):• Amounts Staked EUR 1.9 bn• EBITDA +80-95% yoy• CAPEX spending estimated to

EUR 11-14 mm

• CZ – Online Gaming• PL – virtual games • Blocking of offshore

operators

• Investment into multi-product, -channel, and -jurisdiction platform

• Operational excellence & people• New marketing activities & sponsoring• Integration of Hattrick Sports Group

and Fortbet Romanian companies• Internationalisation opportunities

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2017 Outlook & Guidance Update

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Klára KlímováIR Consultant

Phone: +420 724 255 715e-mail: klara.klimova@fortunaeg.nl

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IR Contact

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This document has been prepared by Fortuna Entertainment Group N.V:. (the “Company”) solely for use at thePresentation. Any forward looking statements concerning future economic and financial performance of theCompany contained in this Presentation are based on assumptions and expectations of future development offactors having a material influence on the future economic and financial performance of the Company. Thesefactors include, but are not limited to, the legal environment, the future macroeconomic situation, the marketcompetition, the future demand for betting services. The actual development of these factors, however, may bedifferent. Consequently, the actual future financial performance of the Company could materially differ from thatexpressed in any forward looking statements contained in this Presentation.Although the Company makes every effort to provide accurate information, we cannot accept liability for anymisprints or other errors. In preparation of this document we used certain publicly available data. While thesources we used are generally regarded as reliable we did not verify their content. Fortuna does not accept anyresponsibility for using any such information.This document is provided for information and as a matter of record only. It does not constitute an offer to sell ora solicitation of an offer to buy or sell securities or other financial instruments in any jurisdictions or any advice orrecommendation with respect to such securities or other financial instruments of the Company.The distribution of this document in certain jurisdictions may be restricted by law. This document may not beused for, or in connection with, and does not constitute, any offer to sell, or an invitation to purchase, anysecurities or other financial instruments of the Company in any jurisdiction in which such offer or invitation wouldbe unlawful. Persons in possession of this document are required to inform themselves about and to observe anysuch restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws ofany such jurisdiction

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Disclaimer