BETMAKERS TECHNOLOGY GROUP LTD — Interim / Quarterly Report 2023

Apr 30, 2023

Q3 FY23 Investor Update

1 May 2023

BetMakers Technology Group | ASX:BET

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Disclaimer

This shareholder update is dated 1 May 2023.

The material contained in this document is a presentation of general information about the activities of BetMakers Technology Group Limited (the Company or BET) as at the date of this update. All monetary figures quoted within this document are in Australian dollars ($AUD) unless otherwise specified.

The document is not a prospectus, product disclosure statement or other offer document under Australian law or any other law. The information is provided in summary and does not purport to be complete. You should not rely upon it as advice for investment purposes, as it does not take into account your investment objectives, financial position or needs and does not include all information which an investor may require to assess the performance, risks, prospects or financial position of the Company. These factors should be considered, with or without professional advice, when deciding if an investment is appropriate. To the extent permitted by law, no responsibility for any loss arising in any way (including by way of negligence) from anyone acting or refraining from acting as a result of this material is accepted by the Company, including any of its related bodies corporate.

This update contains “forward-looking statements”. These can be identified by words such as “may”, “should”, ”anticipate”, “believe”, “intend”, “estimate” and “expect”. Statements which are not based on historic or current facts may be forward-looking statements. Forward-looking statements are based on assumptions regarding the Company’s financial position, business strategies, plans and objectives of management for future operations and development and the environment in which the Company will operate; and current views, expectations and beliefs as at the date they are expressed, and which are subject to various risks and uncertainties. The forward-looking statements contained within the update are not guarantees or assurances of future performance and involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company, which may cause the actual results, performance or achievements of the Company to differ materially from those expressed or implied by the forward-looking statements. For example, the factors that are likely to affect the results of the Company include: general economic conditions in Australia and globally; exchange rates; competition in the markets in which the Company does, and will, operate; conduct of contracted counter parties; whether and climate conditions; and the inherent regulatory risks in the businesses of the Company. The forward-looking statements contained in this announcement should not be taken as implying that the assumptions on which the projections have been prepared are correct or exhaustive.

The Company disclaims any responsibility for the accuracy or completeness of the information contained in this update, including any forward-looking statement. The Company disclaims any responsibility to update or revise any information in this update, including forward-looking statements to reflect any change in the Company’s financial condition, status or affairs or any change in the events, conditions or circumstances on which a statement is based, except as required by law. The data projections or forecasts included in this presentation have not been audited, examined or otherwise reviewed by the independent auditors of the Company. You must not place undue reliance on these forward-looking statements.

© 2023 by BetMakers Technology Group Limited. All rights reserved. | 2

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OUR MISSION IS TO POWER EXCITEMENT, GROWTH AND SUSTAINABILITY OF WAGERING GLOBALLY WE SIMPLIFY BETTING.

© 2023 by BetMakers Technology Group Limited. All rights reserved. | 3

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Executive Chairman Update

Q2 Oct - Dec 2022

• Largest ever quarterly receipts from customers of $26.9m, up 9% compared to Q2 FY22.

• Invested heavily on platforms and international expansion, resulting in significant cost-base growth and a loss of $5.9m in net cash from operations.

• At the conclusion of the quarter, the company reiterated it would focus on operational efficiencies and getting the business into a position of positive operating cash-flow as soon as possible.

Q3 Jan - March 2023

• Announced management and board restructure.

• Operating costs of the business are down 13% on previous quarter.

• Cash receipts from customers up 9% compared to Q3 FY22.

• Negative $4.9m in net cash from operations (17% decrease in cash burn).

• Clear path identified to cash flow generation from operations.

© 2023 by BetMakers Technology Group Limited. All rights reserved. | 4

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Management Focus

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Reduce and normalise the cost base

Focus on capital management and positive free cash flow, addressing our operational cost base to match the current revenues and being more disciplined with capital allocation.

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Simplify the global operating model

Focus on restructuring management, operating teams and product suite to simplify service delivery and maximise shareholder value.

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Deliver on the current Drive operating scale opportunities through technology

Deliver revenue growth Consolidating legacy by realising the revenues technology and upgrading from the products already platforms to BetMakers built and the customers NextGen technology will already contracted (i.e. deliver superior product New Jersey fixed odds, for customers and more Caymanas, Caesars, operating margin to the Rikstoto, Penn content). business.

© 2023 by BetMakers Technology Group Limited. All rights reserved. | 5

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BetMakers Product Divisions

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Platform Development Fixed Odds Pricing Form and Content Managed Trading Services Data Lifecycle Embedded Racebook Quantum™ Tote Engine Tote Hosting Betting Terminals Venue Services Tote Pooling Interface Management Ofcial Price Race Day Controls Racing Vision Integrity Platform Rights Partnerships Reporting and Analysis Products Products Products	Platform Development Fixed Odds Pricing Form and Content Managed Trading Services Data Lifecycle Embedded Racebook Quantum™ Tote Engine Tote Hosting Betting Terminals Venue Services Tote Pooling Interface Management Ofcial Price Race Day Controls Racing Vision Integrity Platform Rights Partnerships Reporting and Analysis Products Products Products	Platform Development Fixed Odds Pricing Form and Content Managed Trading Services Data Lifecycle Embedded Racebook Quantum™ Tote Engine Tote Hosting Betting Terminals Venue Services Tote Pooling Interface Management Ofcial Price Race Day Controls Racing Vision Integrity Platform Rights Partnerships Reporting and Analysis Products Products Products	Platform Development Fixed Odds Pricing Form and Content Managed Trading Services Data Lifecycle Embedded Racebook Quantum™ Tote Engine Tote Hosting Betting Terminals Venue Services Tote Pooling Interface Management Ofcial Price Race Day Controls Racing Vision Integrity Platform Rights Partnerships Reporting and Analysis Products Products Products	Platform Development Fixed Odds Pricing Form and Content Managed Trading Services Data Lifecycle Embedded Racebook Quantum™ Tote Engine Tote Hosting Betting Terminals Venue Services Tote Pooling Interface Management Ofcial Price Race Day Controls Racing Vision Integrity Platform Rights Partnerships Reporting and Analysis Products Products Products	Platform Development Fixed Odds Pricing Form and Content Managed Trading Services Data Lifecycle Embedded Racebook Quantum™ Tote Engine Tote Hosting Betting Terminals Venue Services Tote Pooling Interface Management Ofcial Price Race Day Controls Racing Vision Integrity Platform Rights Partnerships Reporting and Analysis Products Products Products	Platform Development Fixed Odds Pricing Form and Content Managed Trading Services Data Lifecycle Embedded Racebook Quantum™ Tote Engine Tote Hosting Betting Terminals Venue Services Tote Pooling Interface Management Ofcial Price Race Day Controls Racing Vision Integrity Platform Rights Partnerships Reporting and Analysis Products Products Products	Platform Development Fixed Odds Pricing Form and Content Managed Trading Services Data Lifecycle Embedded Racebook Quantum™ Tote Engine Tote Hosting Betting Terminals Venue Services Tote Pooling Interface Management Ofcial Price Race Day Controls Racing Vision Integrity Platform Rights Partnerships Reporting and Analysis Products Products Products	Platform Development Fixed Odds Pricing Form and Content Managed Trading Services Data Lifecycle Embedded Racebook Quantum™ Tote Engine Tote Hosting Betting Terminals Venue Services Tote Pooling Interface Management Ofcial Price Race Day Controls Racing Vision Integrity Platform Rights Partnerships Reporting and Analysis Products Products Products	Platform Development Fixed Odds Pricing Form and Content Managed Trading Services Data Lifecycle Embedded Racebook Quantum™ Tote Engine Tote Hosting Betting Terminals Venue Services Tote Pooling Interface Management Ofcial Price Race Day Controls Racing Vision Integrity Platform Rights Partnerships Reporting and Analysis Products Products Products	Platform Development Fixed Odds Pricing Form and Content Managed Trading Services Data Lifecycle Embedded Racebook Quantum™ Tote Engine Tote Hosting Betting Terminals Venue Services Tote Pooling Interface Management Ofcial Price Race Day Controls Racing Vision Integrity Platform Rights Partnerships Reporting and Analysis Products Products Products	Platform Development Fixed Odds Pricing Form and Content Managed Trading Services Data Lifecycle Embedded Racebook Quantum™ Tote Engine Tote Hosting Betting Terminals Venue Services Tote Pooling Interface Management Ofcial Price Race Day Controls Racing Vision Integrity Platform Rights Partnerships Reporting and Analysis Products Products Products	Platform Development Fixed Odds Pricing Form and Content Managed Trading Services Data Lifecycle Embedded Racebook Quantum™ Tote Engine Tote Hosting Betting Terminals Venue Services Tote Pooling Interface Management Ofcial Price Race Day Controls Racing Vision Integrity Platform Rights Partnerships Reporting and Analysis Products Products Products	Platform Development Fixed Odds Pricing Form and Content Managed Trading Services Data Lifecycle Embedded Racebook Quantum™ Tote Engine Tote Hosting Betting Terminals Venue Services Tote Pooling Interface Management Ofcial Price Race Day Controls Racing Vision Integrity Platform Rights Partnerships Reporting and Analysis Products Products Products	Platform Development Fixed Odds Pricing Form and Content Managed Trading Services Data Lifecycle Embedded Racebook Quantum™ Tote Engine Tote Hosting Betting Terminals Venue Services Tote Pooling Interface Management Ofcial Price Race Day Controls Racing Vision Integrity Platform Rights Partnerships Reporting and Analysis Products Products Products	Platform Development Fixed Odds Pricing Form and Content Managed Trading Services Data Lifecycle Embedded Racebook Quantum™ Tote Engine Tote Hosting Betting Terminals Venue Services Tote Pooling Interface Management Ofcial Price Race Day Controls Racing Vision Integrity Platform Rights Partnerships Reporting and Analysis Products Products Products	Platform Development Fixed Odds Pricing Form and Content Managed Trading Services Data Lifecycle Embedded Racebook Quantum™ Tote Engine Tote Hosting Betting Terminals Venue Services Tote Pooling Interface Management Ofcial Price Race Day Controls Racing Vision Integrity Platform Rights Partnerships Reporting and Analysis Products Products Products
Wagering Operators Media and Content Suppliers Aggregators and Afliates Racetracks Retail Wagering Venues Online Wagering Operators Racetracks Rights Holders Regulators Customers Customers Customers
Wagering Operators		Media and Content Suppliers		Aggregators and Afliates		Racetracks		Retail Wagering Venues		Online Wagering Operators		Racetracks		Rights Holders		Regulators

© 2023 by BetMakers Technology Group Limited. All rights reserved. | 6

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Q3 FY23 4C Review

• As noted in the Q2 FY23 activities report, the Company made significant operational progress but also saw a significant expansion in its cost base.

• As announced on 31 January 2023, the Company announced Board and Executive management changes to enable the optimisation of the full potential of the business. Specifically an increased focus on operational disciplines, cost efficiency, and optimal capital management.

• The Company’s focus has been to reduce and normalise the cost base with an aim of being operationally cash flow positive during H2 FY23.

• Receipts from Customers of $23.6m (+9% vs Q3 FY22).

• Focus on reducing and normalising the cost base:

• Product manufacturing and operating costs (-13% vs Q2 FY23) - focus on decreasing costs through right-sizing of systems and cloud hosting environments.

• Staff costs (-8% vs Q2 FY23) - reduction in the use of third party contractors, and company restructuring.

• Administration and corporate costs (-25% vs Q2 FY23) - reduction in use of third party advisors and no annual insurance payments in Q3.

• Overall operational cash outflows of $28.6m (-13% vs Q2 FY23).

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• 31 March 2023 cash balance of $56.2m[1] .

This includes the restricted cash balance of $17.5m | 7

© 2023 by BetMakers Technology Group Limited. All rights reserved. | 7

1

Quarterly Cash Receipts from Customers

Q3 FY23 cash receipts of $23.6m (+9% vs Q3 FY22)

+9% y-o-y

• Seasonally quiet revenue quarter with a reduction in racing in the Northern Hemisphere, and limited feature racing domestically.

• Revenue focus remains on:

• Supporting existing clients to drive profitability and scale;

• Bringing contracted clients to market as efficiently and quickly as possible to generate positive inflows on the investment made;

• Expanding existing relationships and assets to ensure full value potential is unlocked.

© 2023 by BetMakers Technology Group Limited. All rights reserved. | 8

Quarterly operating cash outflows

Focus on the reduction and normalisation of operating costs

• Company cost base expanded significantly in Q1 and Q2 FY23 due to the investment made to deliver on new contracts, technology and growth opportunities.

• During Q3 FY23 the Company was focused on operational change to reduce and normalise the operating cost base.

• Progress was made during Q3 FY23 as evidence by the decline in operating cost outflows, although the Company is continuing to review its cost base to extract operational inefficiencies.

• Management remains focused on reducing the Company cost base to deliver sustainable positive cash flows, providing a secure base from which to continue growth.

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-13% q-o-q
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© 2023 by BetMakers Technology Group Limited. All rights reserved. | 9

INVESTOR QUESTIONS

Email:

investors@betmakers.com

© 2023 by BetMakers Technology Group Limited. All rights reserved.