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Full-Year 2025 Results Investor Presentation 12 November 2025 Bringing joy to life through the power of play For personal use only
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Strong 2H25 Delivered +15% FY25 EPSA growth through successful enterprise portfolio realignment & strategic execution Revenue $6.3bn +11% Competitive & aligned portfolio, investment supporting organic growth & share gains Segment Profit $3.2bn +12% Disciplined cost management, effective execution & scale benefits NPATA $1.6bn +12% Strong operating performance & NeoGames inclusion, partially offset by continued investment Cash returned to shareholders $1.4bn through dividends & on-market share buy-backs Outlook NPATA growth in FY261 Competitive portfolio & confidence in future performance FY25 result highlights 2 Year-on-year change compared to financial year 2024 . All figures in AUD unless otherwise stated . Refer to the Operating and Financial Review for definitions and explanations of line items. The normalised result and key performance metrics for the twelve months ended 30 September 2025 present the continuing business including Bi g Fish, and exclude significant items and discontinued operations following the divestment of Plarium. The comparative periods in financial year 2024 have been restated to exclude Plarium in accordance with relevant accounting standards and to provide a consistent basis for comparison, unless otherwise stated. This page contains forward looking statements and statements of expectation. Please refer to the disclaimer on page 33 1. Aristocrat expects to deliver NPATA growth over the full year to 30 September 2026 on a constant currency basis For personal use only
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Strategy Overview Full-Year 2025 Results For personal use only
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Proven growth strategy 4 Investing, Innovating & Protecting IP • Unleash & support extraordinary talent • Invest in D&D, UA & Capex to sustain innovation & product leadership • Robust technology & distribution platforms for speed & efficiency • Create & protect the world’s greatest gaming content & brands • Market share growth wherever we play • Target organic growth & scale in attractive adjacencies • M&A investment to accelerate growth & enhance customer experience • Leverage content across multiple channels, reaching more customers & players Differentiating Enablers • Leading financial fundamentals • Outstanding people & engagement • Deep customer partnerships • Exceptional commercialisation capabilities • Compliance culture with Responsible Gameplay leadership Growing & Distributing Delivering superior, long-term profit growth Strategy Overview | FY25 Results Aristocrat is a global entertainment and gaming content creation leader, powered by technology For personal use only
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80% 72% Recurring Revenue % 0.5 2.4 2.5 2.6 2.7 1.7 1.8 1.7 2.2 2.8 3.5 3.6 4.0 FY20 FY21 FY22 FY23 FY24 FY25 Aristocrat Gaming Product Madness/Pixel United Aristocrat Interactive Extending a track record of financial performance 4.1 4.7 5.6 6.3 5.7 6.3 FY20 FY21 FY22 FY23 FY24 FY25 Revenue1 (A$bn) +9% CAGR Revenue diversification1,3 (A$bn) NPATA1 (A$bn) 56.0 120.0 150.2 189.6 203.0 226.5 FY20 FY21 FY22 FY23 FY24 FY25 EPS1 (A$ cents) +32% CAGR +11% YoY2 5 +12% YoY2 1. FY20 to FY23 as previously reported (including Plarium), FY24 restated to exclude Plarium 2. YoY growth rates reflect continuing operations, excluding Plarium 3. FY20 and FY21 Customer Experience Solutions/Anaxi revenue included in Gaming as previously reported Strategy Overview | FY25 Results 0.5 0.9 1.1 1.3 1.4 1.6 FY20 FY21 FY22 FY23 FY24 FY25 +12% YoY2 +27% CAGR Consistent growth underpinned by operational breadth and strong execution For personal use only
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Ongoing progress in Sustainability 66 2025 Sustainability Report available from 2 nd December at www.aristocrat.com Strategy Overview | FY25 Results Empowering Safer Play Operational Sustainability & Climate Good Governance & Responsible Business People & Community • Refined Know Your MaxTM campaign in Gaming • Redesigned ESP dynamic messaging in Product Madness • ESP staff awareness and satisfaction exceeded >80% target • Established key research partnerships with UNLV’s Artificial Intelligence Research Hub and International Center for Responsible Gaming • Flexi Play expanded to over 11,000 machines in ~1,400 NSW venues • Achieved eNPS score of 53, +15 points above the technology benchmark • Expanded our AI-driven safety monitoring system to the Tulsa Integration Center • >15,500 training hours completed across global team • Contributed US$3.9m in community impact initiatives • On track to comply with mandatory climate reporting standards from FY26 • Refreshed Sustainability Governance Framework • Completed integration of NeoGames into compliance and cyber frameworks • Introduced new and updated policies across compliance, cyber and IP • Comprehensive refresh of Supplier Code of Conduct • >6,400 EGMs refurbished (+7% vs FY24) • Obtaining limited assurance over Scope 1 and Scope 2 emissions, and climate governance disclosures • Transitioned Australian head office and Integration Centre to renewable electricity STRATEGIC PILLARSFY25 HIGHLIGHTS Our ambition: To uphold high standards of governance and responsibility; to positively impact our people, customers and communities For personal use only
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Group Results & Financial Summary Full-Year 2025 Results For personal use only
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o Revenue up 11% (8% in constant currency), with organic growth and market share gains across the portfolio, and the inclusion of NeoGames for the full 12 month period o Gaming Outright Sales revenue growth of 11%, driven by growth in units in North America and ANZ o Gaming Operations grew by ~4,100 units, increasing market share to 43%2 o Product Madness revenue growth driven by market outperformance in Social Casino franchises, with revenue growth of 5%, compared to a Social Slots market decline of 9%3 o Interactive revenue benefitted from organic growth in iLottery and continued scaling of Content across North America and Europe o EBITDA up 16%, reflecting margin expansion across the Group from favourable mix and improved operating leverage o Corporate costs include a $28 million gain on property sale and elevated legal costs, including costs associated with protecting Aristocrat’s intellectual property, with ~$21 million in legal costs related to the ongoing litigation against a competitor o Interest income decreased by $34 million primarily due to lower average cash balances following the NeoGames acquisition, and interest expense includes a one-off expense of ~$9 million o Increase in the effective tax rate relates primarily to changes in the regional earnings mix and acquisition related transitional changes o The Directors have authorised a final unfranked dividend of 49.0 cents per share for the half-year ended 30 September 2025 8 Group results summary Revenue growth across all segments, with operating leverage supporting profit performance 8Group Results & Financial Summary | FY25 Results 1. Balance sheet and cash flow as previously reported (including Plarium) 2. Eilers Gaming Supplier KPI Model 2Q25 and internal analysis across the five largest participants in North America 3. Sensor Tower data, public company reports and Aristocrat estimates Note: Refer to the Operating and Financial Review for definitions and explanations of line items A$ million 2025 2024 Change % Normalised results Revenue 6,297.0 5,673.4 11.0 EBITDA 2,628.9 2,274.4 15.6 EBITDA margin 41.7% 40.1% 1.6 pts EBITA 2,234.3 1,940.0 15.2 NPAT 1,421.2 1,299.4 9.4 NPATA 1,550.7 1,382.0 12.2 Earnings per share (fully diluted) 226.5c 203.0c 11.6 EPSA (fully diluted) 247.2c 215.9c 14.5 Total dividend per share 93.0c 78.0c 19.2 Reported results from continuing operations Revenue 6,297.0 5,673.4 11.0 Profit after tax 1,184.1 1,150.8 2.9 NPATA 1,313.6 1,233.4 6.5 Balance sheet and cash flow1 Net working capital / revenue from continuing operations 5.8% 3.7% 2.1 pts Operating cash flow 1,933.7 1,765.2 9.5 Net debt 423.3 1,139.8 (62.9) Net debt to EBITDA 0.2x 0.4x 0.2x For personal use only
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Profit reconciliation NPATA BRIDGE (A$m)1 9 NPATA FY24 1,382.0 Aristocrat Gaming 52.3 Product Madness 60.5 Aristocrat Interactive 69.7 Corporate Costs & Other 13.8 Group D&D Expenses (13.1) Net Interest (28.7) Change in ETR (19.3) Foreign Exchange 33.5 NPATA FY25 1,550.7NPATA FY24 NPATA FY25 91. Movements above are reported on a constant currency basis and are tax effected at the prior year effective tax rate. Numbers have been normalised to exclude significant items and discontinued operations outlined in the Operating and Financial Review Group Results & Financial Summary | FY25 Results Profit uplift driven by Gaming and Product Madness, and full year of NeoGames contribution in InteractiveFor personal use only
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Cash flow o Increase in operating cash flow reflects continued business growth o Change in net working capital reflects an increase in receivables from revenue growth in Gaming partly offset by an increase in payables due to timing o Other cash and non-cash movements include the results of Plarium as a discontinued operation, non-cash expenses including share-based payments and foreign exchange movements o Net capital expenditure driven by investment to support continued growth in the North America Gaming Operations installed base, partly offset by proceeds on the sale of properties o Acquisitions and divestments largely driven by the sale of Plarium in February 2025 (net of Plarium cash) o $1.4 billion returned to shareholders through dividends and on-market share buy-backs in FY25 o Prior $1.85 billion on-market share buy-back program completed, with ~$584 million returned to shareholders under the new up to $750 million on-market share buy-back program announced in February 2025 o Repayment in full of US$250 million Term Loan B debt facility 1010 Note: Refer to the Operating and Financial Review for definitions and explanations of line items Group Results & Financial Summary | FY25 Results A$ million 2025 2024 Change % EBITDA from continuing operations 1 2,628.9 2,274.4 15.6 Change in net working capital 1 (136.3) (109.5) (24.5) Interest and tax (625.6) (606.3) (3.2) Other cash and non-cash movements1 66.7 206.6 (67.7) Operating cash flow 1,933.7 1,765.2 9.5 Net capital expenditure (423.5) (494.1) 14.3 Acquisitions and divestments 864.8 (1,513.1) n/a Investing cash flow 441.3 (2,007.2) n/a Dividends and cash returned to shareholders (1,391.9) (1,285.1) (8.3) Payments for shares acquired by the employee share trust (123.5) (93.5) (32.1) Repayments of borrowings (512.7) (440.5) (16.4) Other financing activities (44.8) (47.0) 4.7 Financing cash flow (2,072.9) (1,866.1) (11.1) Net increase / (decrease) in cash 302.1 (2,108.1) n/a 1. Comparative results have been restated to exclude discontinued operations, to align with the current period presentation in accordance with relevant accounting standards and to provide a consistent basis for comparison Strong cash generation; Operating cash flow of $1.9 billionFor personal use only
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Capital allocation framework, balance sheet and liquidity o Free cash flow funds growth investment (organic and inorganic) • Post year end, Aristocrat completed the acquisition of Awager o Cash returns to shareholders via: • Dividends (discretionary dividend policy with periodic review) • On-market share buy-back dependent on leverage profile and market conditions o Targeting net debt leverage ratio of 1.0 – 2.0x over the medium-term. Given strong operating cash flow generation, balance sheet gearing will not fall within the target leverage range without material strategic M&A, which remains a key focus Portfolio growth and performance Strong balance sheet to provide full strategic optionality Free cash flow Capex / growth capabilitiesUser Acquisition On-market share buy-backDividends Investment drives future growth 11 Medium-term debt leverage 2025 2024 D&D Investment 1 as % of revenue $800m 12.7% $759m 13.4% UA Investment as % of Product Madness revenue US$197m 17.1% US$178m 15.7% Total Capex 2 $458m $494m 30 Sep 2025 30 Sep 2024 Total Debt $1,705m $2,084m Net Debt $423m $1,140m Net Debt to EBITDA 0.2x 0.4x Liquidity $2.0bn $1.7bn Cash returned to shareholders $1,392m $1,285m 11Group Results & Financial Summary | FY25 Results1. ~$35 million of Interactive operating costs, previously included in D&D, reclassified to segment profit during the period 2. Capex largely driven by investment to support continued growth in the North America Gaming Operations installed base Design & Development Inorganic growth / M&A Capital allocation framework supports long-term growth strategy and maximises shareholder returns KEY METRICS For personal use only
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Fully funding strategic organic growth 12 528 667 722 759 800 696 676 283 268 308 228 269 453 494 458 FY21 FY22 FY23 FY24 FY25 D&D UA Capex Investment Spend1 (A$m) Total spend as a % of revenue YoY1 12 31% Group Results & Financial Summary | FY25 Results 1,452 1,612 1,458 1,521 1,566 29% 27% 25% Note: UA Spend has been converted to A$m based on reporting currency 1. FY23 and FY24 restated to exclude Plarium from Revenue, D&D and UA 27% Ongoing investment to support growth, with discipline across D&D and UA to optimise returns For personal use only
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185 207 204 206 206 220 97 124 120 102 108 105 42 67 50 77 88 73 1H23 2H23 1H24 2H24 1H25 2H25 Aristocrat Gaming Product Madness Aristocrat Interactive Design & Development investment 1313 12.4% Group Results & Financial Summary | FY25 Results 398 385 324 374 402 13.4%14.5% 13.3% D&D spend1 (A$m) D&D as a % of revenue1 1. Restated to exclude Plarium 2. Full year growth rate compared to the PCP in reporting currency 13.4% 398 12.2% Proforma Product Technology Future disclosure approach Industry-leading Design & Development investment maintained FY25 +5.4%2 FY24 +5.1%2 For personal use only
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Operational Performance Full-Year 2025 Results For personal use only
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Aristocrat Gaming o Revenue growth of ~9% led by strong performance in global Outright Sales, supported by the depth and strength of the portfolio o Profit Margin reduced 1% to 55% driven by revenue mix Gaming Operations (North America): o Total installed base 75,225 units after ~4,100 net additions, growing market share to 43%1 o Maintained market-leading FPD of US$53.23, with 2H25 up 2% sequentially o Launches of Phoenix LinkTM, House of the DragonTM, Cash Express Legend TM, and Millioni$erTM, along with continued demand for Buffalo Ultimate StampedeTM, Dragon LinkTM, and Lightning Dollar LinkTM, drove momentum Outright Sales: o Revenue increased 11% due to strong unit growth, underpinned by ship share gains in 2H25 enabled by the BaronTM launch in key markets o Clear revenue leadership was maintained in North America, given the combination of strong ASPs and 31%1 ship share o Strong game performance, led by the successful debut of Spooky LinkTM, achieving the fastest ramp of any game sales in Aristocrat history, Mo Mo Mo MummyTM, and Bao Zhu Zhao Fu IgniteTM o Adjacencies units increased 29%, driven by continued expansion into Georgia COAM, Historical Horse Racing and Quebec VLT markets o Ship share in ANZ increased to 43% for the full year and 52% for the second half2, driven by the successful launch of the Baron UprightTM cabinet and strong game performance in 2H25 o RoW incl. ANZ units up 4%, with increased ASP in FY25 due to a one-off sale of aged recurring revenue units in South Africa in the PCP 15151. Eilers Gaming Supplier KPI Model 2Q25 and internal analysis across the five largest participants in North America 2. Based on NSW regulator data, QLD Max Gaming data and internal analysis Operational Performance | FY25 Results Summary Profit or Loss 2025 2024 Change % Aristocrat Gaming Revenue A$m 3,960.0 3,628.6 9.1 EBITDA A$m 2,476.7 2,275.5 8.8 Profit A$m 2,161.1 2,021.6 6.9 Profit Margin % 54.6 55.7 (1.1) pts North America Revenue US$m 2,017.7 1,918.2 5.2 Profit US$m 1,165.6 1,130.6 3.1 Profit Margin % 57.8 58.9 (1.1) pts Rest of World Revenue A$m 813.7 731.6 11.2 Profit A$m 343.5 316.3 8.6 Profit Margin % 42.2 43.2 (1.0) pts North America Outright Sales Units ASP US$ Units ASP A$ ANZ Outright Sales FY25 24,821 20,762 FY24 23,109 20,616 5,71 2 FY25 9,725 23,857 6,06 2 FY24 7,357 23,883 North America Gaming Operations Units FPD US$ FY25 75,225 53.23 FY24 71,131 55.41 Growth driven by strong performance in global Outright Sales and continued share gains across the portfolioFor personal use only
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Product Madness 16 o A transformational year for Product Madness, with refreshed leadership and more effective integration into the enterprise o Product Madness Social Casino franchises outperformed the market, with bookings growth of 5%2 compared to a Social Slots market decline of 9%1, demonstrating effective player engagement and resilience o Social Casino performance supported by successful investment in Live Ops, features and new slot content, and focused UA investment o Margin expansion reflects operational efficiency and an increase in direct to consumer sales, resulting in lower overhead and platform costs o Continued success of key franchises Lightning LinkTM, Cashman CasinoTM and Heart of VegasTM o UA spend increased from 16% to 17% of revenue with targeted investment to support bookings growth and the launch of the new NFL themed game o NFL launch showing good early indications o Direct to consumer revenue increased from 7% to 16% of Social Casino revenue o Post year end, Aristocrat entered into agreements to divest Big Fish Games UA Spend DTC Revenues3 2H251H25 1.53 16 1. Sensor Tower data, public company reports and Aristocrat estimates 2. Total bookings, including Social Casual, increased 2% 3. Direct to Consumer; In App revenues generated outside the core digital ecosystem (e.g. Apple, Google, Meta, Amazon). The consumer must leave the core platform and make their In-App Purchase "off-platform" using a third-party website and payment option Operational Performance | FY25 Results Summary Profit or Loss 2025 2024 Change % Product Madness Bookings US$m 1,153.9 1,129.7 2.1 Revenue US$m 1,154.3 1,130.3 2.1 EBITDA US$m 522.7 475.3 10.0 Depreciation and Amortisation US$m (6.5) (12.6) (48.4) Profit US$m 516.2 462.7 11.6 Profit Margin % 44.7 40.9 3.8 pts Amortisation of acquired intangibles US$m (8.7) (9.5) (8.4) Profit after amort of acq. Intangibles US$m 507.5 453.2 12.0 87.0 100.0 97.3 2H24 % of revenue 17.6% 16.6%15.3% US$m 2H251H25 43.5 68.6 97.6 2H24 % of revenue 13.3% 18.2%8.5% US$m Momentum in Social Casino with margin improvement; ranked #1 in Social Slots with 21% market share1 For personal use only
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44.3 42.4 50.5 68.6 76.2 77.6 97.8 97.7 97.8 Content Aristocrat Interactive 17 o Total revenue and profit growth reflects the inclusion of NeoGames for the full year, organic growth in iLottery and the continued scaling of Content o During 2H25, Interactive operating costs of US$23 million (A$35 million), previously included in D&D, reclassified to segment profit, impacting the profit margin. Excluding this full year reallocation, FY25 profit margin would have been around 35% (1H25 reported 33.2%) iLottery: o iLottery remains a market leader in the US, with 72% share of gross wager5 o Strong growth with major turnkey contracts in North Carolina and Virginia Content: o The consolidation of remote game server technology has enabled growth in Content in 2H25, with 74 unique games launched over the year o Increase in iCasino market share from 1.8% in March 2025 to 3.5% in September 20256, with ~92%7 US market access o Three games in the Top 25 new slot game ranks, with Aristocrat ranked as a top ten slot supplier8 o Continued organic growth in aggregation, with 19,100+ games aggregated Platforms: o Solid performance from CXS in the US and ANZ markets, supported by hardware innovation, installation expansion and software sales 2H25 17 1. Reported Revenue excludes share of the NPI JV revenues 2. Profit includes share of profit from the NPI JV 3. 2H24 grossed up for 6 months for NeoGames. 1H25 and 2H25 actual reported 4. iLottery revenue includes share of NPI JV revenue Operational Performance | FY25 Results Summary Profit or Loss 2025 2024 Change % Aristocrat Interactive Reported Revenue 1 US$m 344.3 223.9 53.8 Total Revenue (incl. share of NPI JV revenue) US$m 442.2 258.8 70.9 EBITDA US$m 134.0 71.5 87.4 Depreciation and Amortisation US$m (3.3) (1.6) 106.3 Profit2 US$m 130.7 69.9 87.0 Profit Margin as a % of Total Revenue % 29.6 27.0 2.6 pts Amortisation of acquired intangibles US$m (64.7) (28.5) 127.0 Profit after amort of acq. intangibles US$m 66.0 41.4 59.4 Proforma Revenue3 (US$m) iLottery4 Platforms 5. Eilers US iLottery Tracker 2Q25 Report 6. Eilers Online Game Performance data and Aristocrat estimates 7. Eilers All States Premium Online Casino By Brand – September 2025 8. Eilers U.S. Online Game Performance Report – October 2025, Overall (Supplier > 2% GGR) 2H24 1H25 2H252H24 1H25 2H252H24 1H25 Interactive continues to accelerate, with positive momentum in iLottery and Content For personal use only
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Outlook Full-Year 2025 Results For personal use only
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Outlook 1919Outlook | FY25 Results Continued revenue and market share growth from Aristocrat Gaming, supported by resilient underlying GGR growth in key markets Accelerating performance at Aristocrat Interactive toward our FY29 US$1 billion Revenue Target1 through further scaling of Content and investing in iLottery to support broader market access in North America and Europe Continued market share growth from Product Madness, with an increasing contribution from DTC Note: Additional detail for FY26 modelling inputs is included in the first page of the Appendices This page contains forward looking statements and statements of expectation. Please refer to the disclaimer on page 33 1. Revenue Target includes Interactive’s share of revenues from the NPI JV Aristocrat expects to deliver NPATA growth over the full year to 30 September 2026 on a constant currency basis, reflecting: For personal use only
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Q&A Full-Year 2025 Results For personal use only
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Appendices Full-Year 2025 Results For personal use only
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FY26 modelling inputs 2222Appendices | FY25 Results Operating items: • D&D investment expected to increase at mid-single digits compared to FY25 on a constant currency basis • Product Madness UA spend expected to be in the range of 18 - 21% of revenue Non-operating items: • Net interest expense to include interest paid on US dollar borrowings, hedging costs, hedging benefits and other finance fees, with an all-in rate of approximately 6 - 7% of US dollar borrowings • Amortisation of acquired intangibles – Circa US$100 million pre-tax relating to assets previously acquired • Income tax expense – Normalised ETR of approximately 26 - 28% reflective of regional earnings mix and acquisition-related transitional changes, which are expected to moderate over time For personal use only
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A$ million 2025 2024 Statutory profit before tax excluding discontinued operations 1,818.8 1,565.6 Add back interest 101.4 60.0 Add back net loss from significant items before tax excluding discontinued operations 147.3 206.3 Profit before interest and tax (EBIT) 2,067.5 1,831.9 Add back depreciation and amortisation 561.4 442.5 EBITDA 2,628.9 2,274.4 2025 2024 A$ million Before tax After tax Before tax After tax Transaction, integration and tax expenses arising from acquisitions (37.9) (47.8) (44.8) (40.3) Impairment of assets and net costs associated with the Big Fish restructure (109.4) (100.6) (161.5) (161.5) Gain on sale of Plarium net of transaction costs 390.6 390.6 - - Changes in deferred tax asset relating to the Group structure changes in a prior year - (88.7) - 53.2 Net gain/(loss) from significant items 243.3 153.5 (206.3) (148.6) Group results summary 23 EBITDA Reconciliation Group performance: Normalised results are statutory profit (before and after tax), excluding the impact of certain significant items and discontinued operations detailed above. The financial information presented for FY24 has been restated to reflect the continuing business and exclude discontinued op erations following the divestment of Plarium. 1. Segment profit throughout this report is stated before amortisation of acquired intangibles. Amortisation of acquired intangibles arises from acquisitions of controlled entities and joint ventures 2. Average of monthly exchange rates only. No weighting applied 23Appendices | FY25 Results Foreign exchange rates A$ million 2025 2024 Profit after tax from continuing operations 1,184.1 1,150.8 Profit after tax from discontinued operations 456.2 152.6 Statutory profit as reported in the financial statements 1,640.3 1,303.4 Amortisation of acquired intangibles (tax effected) 129.5 82.6 Reported profit after tax before amortisation of acquired intangibles (reported NPATA) 1,769.8 1,386.0 (Less) / add net (gain) / loss from significant items after tax (153.5) 148.6 (Less) net profit from discontinued operations after tax (65.6) (152.6) Normalised profit after tax before amortisation of acquired intangibles (normalised NPATA) 1,550.7 1,382.0 A$ 30 Sep 2025 31 Mar 2025 30 Sep 2024 2025 Average2 2024 Average2 USD 0.6616 0.6250 0.6917 0.6414 0.6615 Reported Currency Reported Currency Constant Currency A$ million 2025 2024 Variance % Variance % Segment revenue Gaming 3,960.0 3,628.6 9.1 5.9 Product Madness 1,800.3 1,709.1 5.3 2.1 Interactive 536.7 335.7 59.9 54.2 Total segment revenue 6,297.0 5,673.4 11.0 7.6 Segment profit 1 Gaming 2,161.1 2,021.6 6.9 3.5 Product Madness 804.4 699.8 14.9 11.8 Interactive 204.6 104.4 96.0 91.1 Total segment profit 3,170.1 2,825.8 12.2 8.8 Unallocated expenses Group D&D expense (799.6) (758.7) (5.4) (2.4) Corporate, foreign exchange and other (136.2) (127.1) (7.2) (2.5) Total unallocated expenses (935.8) (885.8) (5.6) (2.4) EBIT before amortisation of acq. intangibles (EBITA) 2,234.3 1,940.0 15.2 11.8 Amortisation of acquired intangibles 1 (166.8) (108.1) (54.3) (49.6) EBIT 2,067.5 1,831.9 12.9 9.5 Interest income 62.3 96.4 (35.4) (37.1) Interest expense (163.7) (156.4) (4.7) (2.1) Profit before tax 1,966.1 1,771.9 11.0 7.6 Income tax (544.9) (472.5) (15.3) (11.9) Net profit after tax (NPAT) 1,421.2 1,299.4 9.4 6.1 Amortisation of acquired intangibles after tax 1 129.5 82.6 56.8 51.9 Net profit after tax and before amortisation of acq. intangibles (NPATA) 1,550.7 1,382.0 12.2 8.8 Group Performance Reconciliation of statutory profit to NPATA Significant Items For personal use only
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24 Aristocrat Gaming Appendices | FY25 Results Aristocrat Gaming (A$m) North America (US$m) Rest of World (A$m) Summary of Performance 2025 2024 2025 2024 2025 2024 Revenue 3,960.0 3,628.6 2,017.7 1,918.2 813.7 731.6 EBITDA 2,476.7 2,275.5 1,358.2 1,289.2 358.7 330.6 Depreciation and Amortisation (315.6) (253.9) (192.6) (158.6) (15.2) (14.3) Profit 2,161.1 2,021.6 1,165.6 1,130.6 343.5 316.3 Profit Margin % 54.6 55.7 57.8 58.9 42.2 43.2 Amortisation of acquired intangibles (52.1) (50.5) (33.4) (33.4) - - Profit after amortisation of acquired intangibles 2,109.0 1,971.1 1,132.2 1,097.2 343.5 316.3 Other Operational Metrics D&D expense (426.0) (410.4) Gaming Operations Revenue 2,215.5 2,058.2 1,421.1 1,361.5 Class III Premium Units 45,333 41,402 45,333 41,402 Class II Units 29,892 29,729 29,892 29,729 Total units Units 75,225 71,131 75,225 71,131 Total average fee per day US$/unit 53.23 55.41 53.23 55.41 Outright Sales & Other Revenue 1,744.5 1,570.4 596.6 556.7 813.7 731.6 Revenue – ANZ only 408.2 360.0 Units Units 41,488 39,147 24,821 23,109 16,667 16,038 North America excluding Adjacencies Units 18,373 18,105 North America Adjacencies Units 6,448 5,004 RoW excluding ANZ Units 6,942 8,681 ANZ Units 9,725 7,357 ASP $/unit North America US$/unit 20,762 20,616 RoW excluding ANZ US$/unit 22,054 17,341 ANZ A$/unit 23,857 23,883 For personal use only
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Product Madness 2525Appendices | FY25 Results Product Madness (US$m) Summary of Performance 2025 2024 Bookings 1,153.9 1,129.7 Revenue 1,154.3 1,130.3 EBITDA 522.7 475.3 Depreciation and Amortisation (6.5) (12.6) Profit 516.2 462.7 Profit Margin % 44.7 40.9 Amortisation of acquired intangibles (8.7) (9.5) Profit after amortisation of acquired intangibles 507.5 453.2 Other Operational Metrics D&D expense (133.0) (150.7) UA spend (197.3) (177.5) % of Revenue 17.1 15.7 Direct to Consumer Revenues 1 Product Madness Revenue 166.2 70.8 % of Social Casino Revenue 15.8 7.0 Active Users DAU by genre (period end): Millions 1.9 2.1 Social Casino 1.3 1.3 Social Casual 0.6 0.8 ABPDAU US$ 1.53 1.31 Product Madness (US$m) Bookings 2025 2024 Bookings by Genre Social Casino 1,054.0 1,008.2 Social Casual 99.9 121.5 Total 1,153.9 1,129.7 Bookings by Game Lightning LinkTM 343.2 319.8 Cashman CasinoTM 248.8 240.0 Heart of Vegas TM 178.7 166.5 Big Fish CasinoTM 159.3 168.1 Jackpot Magic SlotsTM 92.1 95.4 Gummy Drop! TM 43.9 47.9 EverMergeTM 27.1 39.3 Mighty Fu CasinoTM 30.3 18.4 Other Games 30.5 34.3 Total 1,153.9 1,129.7 The financial information presented for FY24 has been restated, to reflect the continuing business and exclude discontinued o perations following the divestment of Plarium. 1. In-app revenues generated outside the core digital ecosystem (e.g. Apple, Google, Meta, Amazon). The consumer must leave the cor e platform and make their In-app purchase "off-platform" using a third -party website and payment option For personal use only
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Aristocrat Interactive 2626Appendices | FY25 Results Interactive (US$m) Summary of Performance 2025 2024 Reported Revenue 1 344.3 223.9 Total Revenue (incl. share of NPI JV revenue) 442.2 258.8 EBITDA 134.0 71.5 Depreciation and Amortisation (3.3) (1.6) Profit2 130.7 69.9 Profit Margin as a % of Total Revenue % 29.6 27.0 Amortisation of acquired intangibles (64.7) (28.5) Profit after amortisation of acquired intangibles 66.0 41.4 Other Operational Metrics D&D expense (103.0) (84.1) Interactive (US$m) Summary of Performance 2025 2024 Revenue iLottery 55.9 22.3 Content 92.9 48.7 Platforms 195.5 152.9 Total Revenue (excl. share of NPI JV revenue) 344.3 223.9 iLottery share of NPI JV revenue 97.9 34.9 Total Revenue (incl. share of NPI JV revenue) 442.2 258.8 Profit Profit (excl. share of NPI JV profit) 70.7 50.0 Share of NPI JV profit 60.0 19.9 Total Profit 130.7 69.9 1. Reported Revenue excludes share of the NPI JV revenues 2. Profit includes share of profit from the NPI JVFor personal use only
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Investment proposition Relationships with customers & regulators Content library & global studio network World-class content that resonates across all three verticals Defensive Growth Cash flow conversion, balance sheet optionality supporting investment High Quality, Sustainable NPATA Growth Stable Growth High Growth #1 Gaming Ops1 Top 3 Game Sales1 #1 Social Slots2 Building out DTC #1 iLottery3 Scaling in iGaming Premiumisation of the casino floor Profit optimisation NeoGames integration Adjacencies growth Share gains Leverage content through Social Slots Share gains Market legalisation Core Strengths Large & Growing Markets Growth Opportunities Competitive Advantages Content & Creativity Financial Strength Leadership & Scale Execution Track Record 2727 1. Eilers Fantini Slot Survey – 3Q25 2. Sensor Tower data, public company reports and Aristocrat estimates 3. Eilers US iLottery Tracker 2Q25 Report This page contains forward looking statements and statements of expectation. Please refer to the disclaimer on page 33 Established and trusted industry leader with proven ability to deliver sustainable, long-term profit growth Appendices | FY25 Results For personal use only
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Aristocrat Gaming - Overview A leader in North America Gaming Operations with market-leading FPD; Strong diversified game portfolio A$4.0bn FY25 Revenue A$2.2bn FY25 Profit 6.9% 54.6% FY25 Margin (1.1) pts9.1% 1 Largest footprint in North America Gaming Operations 75,225 Gaming Operations installed units US$53.23 market-leading FPD in North America1 #1 overall supplier 1.4x house performance2 41,488 Outright Sales NA – US$20,762 ANZ – A$23,857 RoW excl. ANZ – US$22,054 strong ASP maintained Land-Based Supplier of the Year Class II & Class III3 18 Out Of 25 Top Premium Leased games4 12 global studios ~2,000 employees5 A global leader in Outright Sales Strong, diversified portfolio & platform 2828 % change is year on year. Details above are rounded numbers for the twelve months ended 30 September 2025 1. Eilers Gaming Supplier KPIs – 2Q25 Report 2. Average theoretical win index vs house (> 2,000 units), October 2025 Eilers Game Performance Database 3. Global Gaming Awards 2025 4. Average performance per Eilers Game Performance reports for the 12 months to September 2025 (October 2025 report) 5. Employees assigned to reporting business unit, excluding CTO, CPO and Corporate functions North America 79% Rest of World 21% Revenue Revenue Gaming Operations 56% Outright Sales 44% Appendices | FY25 Results For personal use only
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Product Madness - Overview Global publisher with strong & diversified portfolio; Market-leading share in Social Slots; Targeted investment in Live Ops, features, content and UA to drive long-term, profitable growth 2929 Maintaining leadership in Social Slots 21% Social Slots market share1 8,100+ Live Ops in Social Casino 6.3x higher than FY20 US$1.53 ABPDAU 1.9m DAU 16% Direct to consumer revenues US$197m User acquisition 17.1% of revenue 11 global studios ~350 employees2 Portfolio focused on Social Slots, which continues to scale Continuing to invest while focusing on returns % change is year on year. All figures in US$ unless otherwise stated. Details above are rounded numbers for the twelve months ended 30 September 2025 1. Sensor Tower data, public company reports and Aristocrat estimates 2. Employees assigned to reporting business unit, excluding CTO, CPO and Corporate functions US$1.2bn FY25 Revenue US$0.5bn FY25 Profit 11.6% 44.7% FY25 Margin 3.8 pts2.1% Social Casino 91% Social Casual 9% Bookings Bookings Top 8 games 97% Other 3% Appendices | FY25 Results US$1.1bn Social Casino bookings For personal use only
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Aristocrat Interactive - Overview 3030 iLottery remains the market leader in the US #1 performance in US2 ~72% wager market share in US2 32 customers globally 74 unique games launched in FY25 3.5% iCasino market share3 19,100+ games aggregated4 ~76% Platforms recurring revenues 4 global studios ~750 employees5 Ongoing success of Aristocrat land-based titles in Content Platforms continues to expand in US and ANZ % change is year on year. All figures in US$ unless otherwise stated. Details above are rounded numbers for the twelve months ended 30 September 2025 1. Total Revenue and Profit includes Aristocrat share of the NPI JV 2. Eilers US iLottery Tracker 2Q25 Report 3. Eilers Online Game Performance data and Aristocrat estimates; market share in September 2025 4. Includes proprietary and 3rd party content; excludes games with less than €100 in bets 5. Employees assigned to reporting business unit, excluding CTO, CPO and Corporate functions US$442m FY25 Total Revenue1 US$131m FY25 Profit1 87.0% 29.6% FY25 Margin1 2.6 pts70.9% iLottery 35% Content 21% Platforms 44% Revenue1 Profit1 US$m 69.9 130.7 FY24 FY25 +87% Appendices | FY25 Results Content and technology solutions provider for online RMG and land-based casino systems; Strong momentum across the business For personal use only
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Glossary of terms 31 Adjacencies Established, regulated markets outside traditional markets where Aristocrat competes to take share by bringing innovation in games and technology ANZ Australia and New Zealand ASP Average Selling Price (Outright Sales) COAM Coin Operated Amusement Machine CDS Central Determination System. A collection of secured computers located at a casino that randomises the electronic scratch ticket outcomes (wins/losses) of a game and delivers them in a predetermined order to the player terminals on the casino floor Class II Games of chance based off bingo Class III Games of chance based off poker, using random number generator software programs to determine results EGM Electronic Gaming Machine FPD Fee Per Day. The amount Aristocrat receives per day for Gaming Operations EGMs. Often expressed as an average fee per day Gaming Operations Continued operation and maintenance of leased land-based gaming machines GGR Gross Gaming Revenues. The difference between gaming wins and losses before the deduction of casino operating costs and expenses HHR Historical Horse Racing MSP / SSP Multi site progressive / Single site progressive North America US and Canada NYL New York Lottery Outright Sales The outright sale of an EGM Rest of World Markets outside North America (includes ANZ, EMEA, Asia Pacific & LATAM) Stepper A slot machine with a mechanical reel Video A slot machine with a video reel VLT Video Lottery Terminals Washington CDS Washington (State) Central Determination System ABPDAU Average bookings per Daily Active User. Total bookings in each period, divided by the number of days in that period, divided by the DAU during the period Bookings Amount paid by customers DAU Daily Active Users or number of individuals who played during a particular day. ‘Active’ means a player had at least one game session during the day Features Added elements of the game to attract, engage and retain users IDFA Identifier for Advertisers on iOS (Apple). Used to measure marketing campaigns, value ads, find new app users, and segment users, or aggregate access to ads (Google equivalent is GAID, Google Ad Identifier) Live Ops Live game operations. A layer of gameplay which sits on top of the base core game and is time limited. They usually do not impact the outcomes of the core game. These can be one-time contests, tournaments, bonuses or social club events LTV Lifetime Value. The value of a player over the lifetime of the game Mobile Mobile Device Direct to Consumer (DTC) In-app revenues generated outside the core digital ecosystem (e.g. Apple, Google, Meta, Amazon). The consumer must leave the core platform and make their in-app purchase "off-platform" using a third-party website and payment option Product Madness Aristocrat’s Social Casino business Social Casino Social digital casino style games that give players free access to content through downloads. Monetisation typically generated from in-app purchases and/or advertising revenues Social Casual Social digital entertainment style games that give players initial free access to content through downloads. Monetisation typically generated from in-app purchases and/or advertising revenues UA User Acquisition (Digital Marketing Investments) Mobile GamingGaming Appendices | FY25 Results For personal use only
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Glossary of terms 32 Amortisation of acquired intangibles Amortisation of acquired intangibles arises from acquisitions of controlled entities and joint ventures Capex Capital expenditure D&A Depreciation and amortisation D&D Design & Development investment Discontinued operations Discontinued operations refers to the 2024 and 2025 results of Plarium and the 2025 gain on sale net of transaction costs EBITDA Earnings Before Interest, Tax, Depreciation and Amortisation and Significant Items EPS Earnings Per Share EPSA Earnings Per Share before amortisation of acquired intangibles ESG Environmental, Social, and Governance ESP Empowering Safer Play. Aristocrat’s core Responsible Gameplay policy and commitment encouraging players to make good gaming decisions Normalised ETR Effective Tax Rate before significant items FX Foreign Exchange JV Joint Venture M&A Mergers and Acquisitions NPAT Net Profit After Tax NPATA Net Profit After Tax before amortisation of acquired intangibles (excludes significant items) PCP Prior corresponding period Recurring Revenue Predictable, stable components of a company’s revenue. For Aristocrat, includes for example, Gaming Operations, Social Free-to-Play revenues, and online RMG RG Responsible Gameplay SG&A Selling, General and Administrative expenses TAM Total Addressable Market Financial & Other B2B Business-to-Business. That is, business activities carried out between two or more companies without consumer contact B2C Business-to-Consumer. That is, businesses carried out with the direct consumer CXS Customer Experience Solutions. A business-to-business software platform providing casino operators with a customer experience management solution for players iGaming Online gaming; a component of the online RMG business. Ability for a customer to play their favourite slots/poker or bingo game online, for real money iLottery Online lottery, part of online RMG, where individuals can buy state or other lottery tickets online LIVE Casino Ability to play online casino games, in real time and with real live dealers, to imitate experience of actual casino attendance NPI JV NeoPollard Interactive Joint Venture OSB Online Sports Betting. Individual wagers on the outcome of racing games and sports events (including digital games and horse racing) PAM Player Account Management system. iGaming technology platform managing all aspects of player interaction, including tracking, monitoring, communication and compliance RMG Real Money Gaming. Refers to gaming online, including OSB, iGaming (table games, poker/slots, bingo), LIVE casino. Excludes casino-based gaming and Social Free to play casino games White Label A non-branded system available for B2B customers to provide services to their customers (end-consumers) Online Real Money Gaming Appendices | FY25 Results For personal use only
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Investors James Coghill General Manager, Investor Relations +61 439 957 674 james.coghill@aristocrat.com Media Peter Brookes Senior Managing Director +61 407 911 389 peter.brookes@sodali.com For further information, contact: Disclaimer 33 This document and any oral presentation accompanying it has been prepared in good faith, however, no express or implied representation or warranty is given as to the accuracy or completeness of the information in this document, in any accompanying presentation or in any other written or oral communication transmitted or made available to any investor or potential investor (collectively, the “Other Materials”). Nothing in this document, in any accompanying presentation or in any Other Materials is, or shall be relied upon as, a promise or representation. All statutory representations and warranties are excluded, and any liability in negligence is excluded, in both cases to the fullest extent permitted by law. No responsibility is assumed for any reliance on this document or the accompanying presentation or any Other Materials. Without limiting the above, this document, any accompanying presentation and any Other Materials may contain forecasts, forward looking statements or statements as to future affairs which are based on estimates, assumptions and expectations of Aristocrat Leisure Limited or its subsidiaries (collectively, the “Company”) (some or all of which may not be satisfied or may not occur) that, while used in good faith, necessarily involve (i) subjective judgments; (ii) inherent uncertainties; and (iii) significant contingencies, many of which are beyond the Company’s control or reflect future business decisions which are subject to change. Therefore, there can be no assurance that such forecasts, forward looking statements or statements as to future affairs will be realised or that the Company's actual or future results, or subsequent forecasts, will not vary significantly from such forecasts, forward looking statements and statements as to future affairs. The actual results may vary from the anticipated results and such variations may be material. Any and all forecasts and financial information in this document, in any accompanying presentation and in any Other Materials are not, and shall not be relied upon as, a promise or representation as to future matters. The Company’s results may be affected by factors including, but not limited to, the risks and uncertainties in competitive developments, regulatory actions, litigation and investigations, business development transactions, economic conditions, pandemics and changes in laws and regulations. The Company accepts no responsibility or liability in relation to the accuracy or completeness of any forecasts, forward looking statements or statements as to future affairs, or whether they are achievable. The Company does not assume any obligation to revise or update this document, any accompanying presentation, any Other Materials or any of the estimates, assumptions or expectations underlying such forecasts, forward looking statements and statements as to future affairs. No representations or warranties are made as to the accuracy or reasonableness of such estimates, assumptions or expectations or the forecasts, forward looking statements or statements as to future affairs based thereon. Certain data included herein has been obtained from alternative external sources and as such may be inconsistent given differing underlying assumptions and sources. We have not independently verified information from these external sources. This document makes reference to certain non- International Financial Reporting Standards (non- IFRS) financial information. The non-IFRS financial information is unaudited and has not been reviewed by the Company’s independent auditor. Any non-IFRS financial information is clearly labelled to differentiate it from the statutory/IFRS financial information, which is presented in accordance with all relevant accounting standards. Disclosures in this document, the accompanying presentation or any Other Materials are not investment advice and are not intended to be relied upon as advice to investors or potential investors and do not take into account the investment objectives, financial situation or needs of any particular investor. These should be considered, with independent professional advice when deciding if an investment is appropriate. The information contained in this document (including tables) has not been audited in accordance with the Australian Auditing Standards. This document remains the property of the Company and the Company reserves the right to require the return of this document (and any copies or extracts hereof) at any time. The receipt of this document by any investor or potential investor shall constitute such investor’s or potential investor’s acceptance of the foregoing terms and conditions. For additional information concerning the Company, please see the Company’s announcements released on the Australian Securities Exchange (ASX:ALL). For personal use only
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For personal use only