Playtika : PLTK Q1 2024 Earnings Presentation_vF

PLAYTIKA HOLDING CORP.

First Quarter 2024 Results

May 9, 2024

LEGAL DISCLAIMER

Forward-Looking Statements

This presentation contains "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Section 21E of the Exchange Act. All statements other than statements of historical facts contained in this presentation, including statements regarding our business strategy, plans and our objectives for future operations, are forward -looking statements. Further, statements that include words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "future," "intend," "intent," "may," "might," "potential," "present," "preserve," "project," "pursue," "should," "will," or "would," or the negative of these words or other words or expressions of similar meaning may identify forward-looking statements.

We have based these forward-looking statements largely on our current expectations and projections about future events and trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives, and financial needs. The achievement or success of the matters covered by such forward-looking statements involves significant risks, uncertainties and assumptions, including, but not limited to, the risks and uncertainties discussed in our filings with the Securities and Exchange Commission. Moreover, we operate in a very competitive and rapidly changing environment and industry. As a result, it is not possible for our management to assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties and assumptions, the forward-looking statements discussed in this press release may not occur and actual results could differ materially and adversely from those anticipated, predicted or implied in the forward-looking statements.

Important factors that could cause actual results to differ materially from estimates or projections contained in the forward -looking statements include without limitation:

• actions of our majority shareholder or other third parties that influence us;
• our reliance on third-party platforms, such as the iOS App Store, Facebook, and Google Play Store, to distribute our games and collect revenues, and the risk that such platforms may adversely change their policies;
• our reliance on a limited number of games to generate the majority of our revenue;
• our reliance on a small percentage of total users to generate a majority of our revenue;
• our free-to-play business model, and the value of virtual items sold in our games, is highly dependent on how we manage the game revenues and pricing models;
• our inability to identify acquisition targets that fit our strategy or complete acquisitions and integrate any acquired businesses successfully or realize the anticipated benefits of such acquisitions could limit our growth, disrupt our plans and operations or impact the amount of capital allocated to mergers and acquisitions;
• our ability to compete in a highly competitive industry with low barriers to entry;
• our ability to retain existing players, attract new players and increase the monetization of our player base;
• we have significant indebtedness and are subject to the obligations and restrictive covenants under our debt instruments;
• the impact of the COVID-19 pandemic or other health epidemics on our business and the economy as a whole;
• our controlled company status;
• legal or regulatory restrictions or proceedings could adversely impact our business and limit the growth of our operations;
• risks related to our international operations and ownership, including our significant operations in Israel, Ukraine and Belarus and the fact that our controlling stockholder is a Chinese-owned company;
• geopolitical events such as the Wars in Israel and Ukraine;
• our reliance on key personnel;
• market conditions or other factors affecting the payment of dividends, including the decision whether or not to pay a dividend;
• uncertainties regarding the amount and timing of repurchases under our stock repurchase program;
• security breaches or other disruptions could compromise our information or our players' information and expose us to liabilit y; and
• our inability to protect our intellectual property and proprietary information could adversely impact our business.

In addition, statements about the impact of the Wars in Israel and Ukraine are subject to the risks that hostilities may escalate and expand and that the actual impact may differ, possibly materially, from what is currently expected. Additional factors that may cause future events and actual results, financial or otherwise, to differ, potentially materially, from those discussed in or implied by the forward-looking statements include the risks and uncertainties discussed in our filings with the Securities and Exchange Commission. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that the future results, levels of activity, performance or events and circumstances reflected in the forward-looking statements will be achieved or occur, and reported results should not be considered as an indication of future performance. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements.

The forward-looking statements speak only as of the date they are made. Except as required by law, we undertake no obligation to update any forward-looking statements for any reason to conform these statements to actual results or to changes in our expectations.

Non-GAAP Financial Measures

This presentation contains certain non-GAAP financial measures of us, including Credit Adjusted EBITDA. A "non-GAAP financial measure" is defined as a numerical measure of a company's financial performance that excludes or includes amounts so as to be different than the most directly comparable measure calculated and presented in accordance with GAAP in the statements of income, balance sheets or statements of cash flow of the company. You should not consider these non-GAAP financial measures in isolation, or as a substitute for analysis of results as reported under GAAP. For information regarding the non -GAAP financial measures used by us, and for a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP measures, see the Appendix to this presentation.

2

Q1 FINANCIAL HIGHLIGHTS

Revenue of $651.2 million, Net Income of $53.0 million, and Credit Adjusted EBITDA of $185.6 million

Revenue increased by 2.1% sequentially and decreased (0.8)% year over year.

Net income increased by 42.1% sequentially and decreased by (37.0)% year over year.

Credit Adjusted EBITDA decreased (1.7)% sequentially and (16.7)% year over year.

Direct-to-Consumer Platforms revenue increased 6.1% sequentially and 13.2% year over year.

Net income margin of 8.1%, compared to 5.8% in Q4 2023 and 12.8% in Q1 2024.

Credit Adjusted EBITDA margin of 28.5%, compared to 29.6% in Q4 2023 and 33.9% in Q1 2023.

Cash and cash equivalents totaled $1.0 billion as of March 31, 2024.

Note: USD in millions.	3
See appendix for definition of Credit Adjusted EBITDA. Credit Adjusted EBITDA is a non-gaap measure, see reconciliation on slide 12.

Q1 BUSINESS HIGHLIGHTS

Average Daily Paying Users of 309K increased 1.0% sequentially and decreased (5.2)% year over year.

Average Payer Conversion of 3.5%, flat vs. prior quarter and down from 3.6% in the prior year period.

Bingo Blitz revenue of $157.5 million increased 4.8% sequentially and decreased (1.0)% year over year.

Second consecutive quarter of sequential growth.

Bingo Blitz's DTC revenue grew double-digits year over year.

Solitaire Grand Harvest revenue of $77.8 million increased 2.7% sequentially and decreased (8.9)% year over year.

Return to sequential growth after several quarters of decline in 2023.

Slotomania revenue of $135.4 million decreased (1.1)% sequentially and (7.6)% year over year.

Note: See appendix for definitions of Average Daily Paying Users and Average Payer Conversion.	4

QUARTERLY REVENUE BY PLATFORM

Total Revenue	Direct-to-Consumer Platforms Revenue	Third-Party Platforms Revenue
	(0.8)%

+13.2%

(5.0)%

Note: USD in millions.	5
See appendix for definitions of Direct-to-Consumer Platforms.

SELECTED QUARTERLY FINANCIALS

Net Income

Credit Adjusted EBITDA and Margin

(16.7)%

(37.0)%

Note: USD in millions.	6
See appendix for definitions of Credit Adjusted EBITDA. Credit Adjusted EBITDA is a non-gaap measure, see reconciliation on slide 12.

QUARTERLY KPI TRENDS

Average Daily Paying Users (in millions)

(5.2)%

Average Daily Active Users (in millions)

(3.3)%

Average Revenue per Daily Active User

Average Payer Conversion

+1.3%

(10)bps

Note: See appendix for definitions of Average Daily Paying Users, Average Daily Active Users, Average Revenue per Daily Active User, and Average Payer Conversion.	7

REVENUE CONTRIBUTION

Revenue Mix	Revenue Mix
(Casual and Social Casino)	(DTC and 3rd Party Platforms)

Note: See appendix for definitions of Casual Themed Games, Social Casino Themed Games, and Direct-to-Consumer Platforms.	8

CAPITAL STRUCTURE OVERVIEW

Available Liquidity	Debt Maturity Profile
(as of 3/31/24)	(as of 3/31/24)

Capital Structure and

Capital Allocation

Approximately $1.62 billion in available liquidity

Liquidity is expected to continue to improve with Free Cash Flow generation

No near-term debt maturities

Net LTM leverage of approximately 1.8x

Note: USD in millions.	9

FISCAL YEAR 2024 GUIDANCE

	FY23 Actual	FY24 Guidance
Revenue	$2,567.0 million	$2,520 million to $2,620 million
Credit Adjusted EBITDA	$832.2 million	$730 million to $770 million
Credit Adjusted EBITDA Margin	32.4%	29.0% to 29.4%
Capital Expenditures	$79.2 million (1)	$110 million to $115 million (2)

1. Does not include $17.0 million of accrued purchase of property and equipment from Q4 of 2023.
2. Includes $17.0 million of accrued purchase of property and equipment from Q4 of 2023.

Note: USD in millions.	10
See appendix for definition of Credit Adjusted EBITDA. Credit Adjusted EBITDA is a non-gaap measure, see reconciliation of historical figures on slide 13.