RANK GROUP PLC

Earnings Release • Oct 9, 2020

Dear shareholders

I am writing to let you know that The Rank Group Plc's annual report and financial statements 2020 and the notice of annual general meeting 2020 are now available on the Rank website at www.rank.com.

This is my first set of full year results as chair of Rank having been appointed on 17 October 2019 following the anticipated retirement of Ian Burke from the Board and his stepping down at Rank's 2019 annual general meeting.

We started the fiscal year by making excellent progress with our venues and digital businesses trading strongly, and the transformation programme continued to deliver. Towards the end of the first half we were pleased to complete the acquisition of Stride Gaming plc ("Stride"), bringing in-house proprietary technology which will spearhead our digital growth over the coming years. The integration of Stride is well under way and we are confident that the expected synergy benefits will be achieved.

In February 2020, we started to experience the impact of the COVID-19 pandemic, particularly in terms of tourist numbers in London, and by mid-March, and in accordance with government requirements, we had closed all of our 140 venues in the UK, Spain and Belgium. Although the Group had a robust balance sheet, the business acted swiftly and decisively to ensure that cash flow was the Group's number one priority, mitigating wherever possible the detrimental impact to the Group's liquidity of our venues being closed.

Performance across the year reflected the strong start offset by the significant impact of the COVID-19 pandemic on our venues businesses with Group net gaming revenue ("NGR") down 8% (underlying NGR down 15%) for the year. Our digital business continued to grow strongly in the year, with NGR up 66% and underlying NGR up 23%, however there is still plenty more to do and opportunities to realise as we integrate the acquired Stride business. With our venues growing NGR by 8% in the first half, the closure of our venues from March 2020 clearly made an impact to full year performance and offset the first half gains, resulting in full year venues NGR falling by 23%.

Earnings per share ("EPS") was 2.5p, down 66% following the shortfall in NGR in the second half of the year. Removing the impact of separately disclosed items, EPS fell by 54% to 7.0p.

In light of the material impact resultant from the COVID-19 pandemic to our business, the Board will not be proposing a final year dividend. The full year dividend will be 2.8 pence per share reflecting the interim dividend paid on 13 March 2020. The Board recognises the importance of the dividend to our shareholders and is committed to paying a dividend when circumstances permit, this will be kept under regular review.

The Board welcomes the UK Government's plans to commence a review of gambling regulations. Rank continues to develop safer gambling environments and other safeguards for our customers. We seek to entertain and provide excitement to our customers but to do so safely and the Board, both directly and through the work of its safer gambling committee, maintains a sharp focus on the delivery of our safer gambling initiatives. The Government's planned review will provide opportunity for the right balance to be created between protection for the vulnerable and modernising regulation to make it more appropriate for today's consumers, both online and in venues. Going forward, the Board will require management to determine the appropriate strategic responses from both changes of consumer buying behaviours resultant from COVID-19 and the effects of any future regulatory changes.

On behalf of the Board, I would like to thank all of our colleagues within the Company for their creativity, energy and hard work in what has inevitably been a very challenging second half to the year. The Rank team worked hard during lockdown to contribute to the national effort, including cooking over 50,000 meals for key workers and vulnerable people in the communities in which we operate. Through close liaison with government officials the team also worked tirelessly to agree how we could reopen our venues as quickly and safely as possible, recognising that our venues provide spacious environments for our customers to safely meet and enjoy some leisure time. We have now reopened most of our venues and the early response from our customers gives us confidence that we can navigate the current challenging environment and return to the growth and earnings trajectory we were delivering pre-COVID-19.

Alex Thursby Chair

9 September 2020

Delivering through our brands

Our performance

The following charts illustrate the Group's performance for the 12-month periods to 30 June over the last five years.

1. Underlying measures exclude the impact of amortisation of acquired intangibles; profit or loss on disposal of businesses; acquisition and disposal costs including changes to deferred or contingent consideration; impairment charges; reversal of impairment charges; restructuring costs as part of an announced programme and discontinued operations, should they occur in the period. Collectively these items are referred to a separately disclosed items ("SDIs"). The Group has changed the adjusted results it discloses on its consolidated income statement in addition to the IFRS-compliant measures. The presentation of the income statement has changed from "before exceptional items" and "exceptional items" in the prior year to "underlying" and "separately disclosed items" in the current year. The

2018/19 comparatives have been restated to reflect this change. 2. Underlying operating profit for 2017/18 and 2018/19 has been restated to reflect the reclassification of amortisation relating to the acquisition of QSB Gaming and its subsidiaries from underlying to separately disclosed items.

1. Underlying EPS for 2017/18 and 2018/19 has been restated to reflect the reclassification of amortisation relating to the acquisition of QSB Gaming and its subsidiaries from underlying to separately disclosed items.

Visit us online

Visit us online at the Rank Group website which can be found at www.rank.com, which provides details of the Group's activities, as well as useful links.

Frequently asked questions

We have a shareholder "frequently asked questions" section on our website which provides answers to many questions that shareholders have, which can be found at www.rank.com.

Registrar

All administrative enquiries relating to shares should, in the first instance, be directed to the Company's registrar (quoting reference number 1235) and clearly state the registered shareholder's name and address. Please write to The Rank Group Plc registrar, Equiniti Limited, Aspect House, Spencer Road, Lancing, West Sussex BN99 6DA (Tel: from the UK 0371 384 2098 and from outside the UK +44 121 415 7047).

There is a text phone available on 0371 384 22551 for shareholders with hearing difficulties.

Lines are open 08:30 to 17:30, Monday to Friday (excluding public holidays in England and Wales).

Payment of dividends

The Company is no longer operating a dividend re-investment plan. Shareholders may find it more convenient to make arrangements to have dividends paid directly to their bank account. The advantages of this are that the dividend is credited to a shareholder's bank account on the payment date, there is no need to present cheques for payment and there is no risk of cheques being lost in the post. To set up a dividend mandate or to change an existing mandate please contact Equiniti Limited, our registrar, whose contact details are detailed further on this page. Alternatively, shareholders who use Equiniti's Shareview can log on and follow the online instructions at www.shareview.co.uk.

Shareholder security

We are aware that some of our shareholders have received unsolicited telephone calls concerning their Rank shares. These communications tend to be from overseas-based "brokers" who offer a premium price for your Rank shares but ask you to make an upfront payment, typically in the form of an insurance bond. We recommend that before paying any money you:

• obtain the name of the person and firm contacting you;
• check the FCA Register at www.fca.org.uk/firms/financialservices-register;
• use the details on the FCA Register to contact the firm;
• call the FCA Consumer Helpline on 0800 111 6768 if there are no contact details on the FCA Register or you are told they are out of date; and
• search the FCA's list of unauthorised firms and individuals to avoid doing business with at www.fca.org.uk/ consumers/unauthorised-firms-individuals.

If you use an unauthorised firm to buy or sell shares or other investments, you will not have access to the Financial Ombudsman Service or Financial Services Compensation Scheme ("FSCS") if things go wrong.

Below, please find the link to the FCA's website which gives information on scams and swindles which shareholders may find helpful: www.fca.org.uk/consumers/protectyourself-scams.

ShareGift

Shareholders with a very small number of shares, the value of which may make it uneconomical to sell, may wish to consider donating them to charity through ShareGift, a registered charity administered by The Orr Mackintosh Foundation.

Further information about ShareGift is available at www.sharegift.org or by writing to:

ShareGift PO Box 72253 London SW1P 9LQ Tel: 020 7930 3737

Paper copies

If you would like the notice of 2020 annual general meeting and/or the 2020 annual report and financial statements sent to you in hard copy form, please write to us at our registered office address (quoting "hard copy shareholder information request"): Company Secretary, The Rank Group Plc, TOR, Saint-Cloud Way, Maidenhead SL6 8BN and specify the document that you require in hard copy.

For any other information please contact the following at our registered office:

Luisa Wright

Company secretary

Sarah Powell

Director of investor relations and communications

Registered office

The Rank Group Plc TOR, Saint-Cloud Way, Maidenhead SL6 8BN Tel: 01628 504 000

Registered in England and Wales N° 03140769

www.rank.com