Las Vegas Sands : 3Q21 Earnings Slides

3Q21 Earnings Call Presentation

October 20, 2021

Forward Looking Statements

This press release contains forward-looking statements made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve a number of risks, uncertainties or other factors beyond the company's control, which may cause material differences in actual results, performance or other expectations. These factors include, but are not limited to: the uncertainty of the extent, duration and effects of the COVID-19 pandemic and the response of governments and other third parties, including government-mandated property closures, increased operational regulatory requirements or travel restrictions, on our business, results of operations, cash flows, liquidity and development prospects; risks relating to our gaming licenses and subconcession, the renewal or extension of the subconcession in Macao that expires on June 26, 2022; general economic conditions; disruptions or reductions in travel and our operations due to natural or man-made disasters, pandemics, epidemics or outbreaks of infectious or contagious diseases; our ability to invest in future growth opportunities; execute our previously announced capital expenditure programs in both Macao and Singapore, and produce future returns; new development, construction and ventures; government regulation; our subsidiaries' ability to make distribution payments to us; substantial leverage and debt service; fluctuations in currency exchange rates and interest rates; gaming promoters; competition; tax law changes; transportation infrastructure in Macao; political instability, civil unrest, terrorist acts or war; legalization of gaming; insurance; the satisfaction of the conditions precedent to the consummation of the proposed sale of our Las Vegas real property and operations, including the Venetian Resort Las Vegas and the Sands Expo and Convention Center (the "Proposed Transaction"), including the receipt of regulatory approvals; unanticipated difficulties or expenditures relating to the Proposed Transaction; legal proceedings, judgments or settlements that may be instituted in connection with the Proposed Transaction, including those against us, our board of directors and executive officers and others; disruptions of current plans and operations caused by the announcement and pendency of the Proposed Transaction; potential difficulties in employee retention due to the announcement and pendency of the Proposed Transaction; the response of customers, suppliers, business partners and regulators to the announcement of the Proposed Transaction; and other factors detailed in the reports filed by Las Vegas Sands Corp. with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date thereof. Las Vegas Sands Corp. assumes no obligation to update such information.

Within this presentation, the company may make reference to certain non-GAAP financial measures including "adjusted net income/loss," "adjusted earnings/loss per diluted share," and "consolidated adjusted property EBITDA," which have directly comparable financial measures presented in accordance with accounting principles generally accepted in the United States of America ("GAAP"), along with "adjusted property EBITDA margin," "hold-normalized adjusted property EBITDA," "hold-normalized adjusted property EBITDA margin," "hold-normalized adjusted net income/loss," and "hold-normalized adjusted earnings/loss per diluted share," as well as present these or other items on a constant currency basis. The specific reasons why the company's management believes the presentation of each of these non-GAAP financial measures provides useful information to investors regarding Las Vegas Sands' financial condition, results of operations and cash flows, as well as reconciliations of the non-GAAP measures to the most directly comparable GAAP measures, are included in the company's Form 8-K dated October 20, 2021, which is available on the company's website at www.sands.com. Reconciliations also are available in the Reconciliation of Non- GAAP Measures and Other Financial Information section of this presentation.

2

The Investment Case for Las Vegas Sands

• The global leader in Integrated Resort development and operation
• Investment grade balance sheet
• A unique MICE-based business model delivering industry-leading returns
• Unmatched development and operating track record creates competitive advantage as we pursue opportunities in new markets
• Proven history of delivering innovative growth
• A commitment to maximizing shareholder returns
• Disciplined, experienced leadership team dedicated to driving long-term shareholder value

Maximizing Return to Shareholders by:

1. Pursuing growth in Macao and Singapore through investments in capacity expansion and enhancement of our industry-leading property portfolio
2. Leveraging proven MICE-based Integrated Resort business model and balance sheet strength to pursue growth opportunities in new markets
3. Maintaining strong balance sheet and liquidity to preserve ability to make investments in future growth

3

Overview for the Quarter Ended September 30, 2021

• Visitation to our Macao and Singapore markets remains well below historical levels due to travel restrictions related to COVID-19
• Despite the meaningfully reduced visitation, we generated positive adjusted property EBITDA in both Macao and Singapore
• Quarter-on-quarteradjusted property EBITDA declined in both our key markets due to increased restrictions related to the level of local COVID-19 cases

Our market-leading integrated resort offerings in Macao and Singapore position us for growth when travel and tourism spending eventually recover

4

Macao Operating Environment

• Our gaming and non-gaming operations in Macao continue to be impacted by travel restrictions related to the COVID-19 pandemic; visitation remains well below 2019 levels
• In Macao in the quarter ended September 30, 2021, we estimate market visitation1 at approximately 18% of 2019 levels; mass gaming revenue reached approximately 31% of 3Q19 level
• Most key operating metrics declined quarter-on-quarter in 3Q21 due to increased travel restrictions
• Visitation to and tourism spending in Macao have increased in periods when travel restrictions are relaxed, demonstrating continued customer demand
• An increase in the number of visas available and the easing of travel restrictions, will be important to realize a more robust recovery

1. September visitation has not yet been published by the Macao DSEC, and is an estimate based on weekly data provided by the Macao Police Immigration Report.

5