Interim report for the 4th quarter and year-end 2020

1st January to 31st December 2020

Angler Gaming plc, reg. no. C55255, Malta

 ANGLER GAMING PLC

Financial report for the period ended 31st December 2020

Key Facts for the 4th Quarter 2020 (1st October 2020 – 31st December 2020)

All time high in Revenues, EBIT and Net Profit

All figures are compared to the same quarter last year if not explicitly stated otherwise

- Revenues increased by 50.64% to €11,879,282 (€7,885,746).

- EBIT increased by 96.59% to €4,043,740 (€2,056,917).
- EBIT margin of 34.04% (26.08%).
- Customer deposits increased by 36.55% to €25,286,513 (€18,518,134).
- 71,767 new registered customers (50,987), increase of 40.76%.
- 31,093 new depositing customers (25,865), increase of 20.21%.
- Net Profit increased 78,08% to €3,472,430 (€1,949,902).
- Earnings per share of €0.0463 (€0.0260), increase of 78.08%.

- Premiergaming Ltd., the Group’s company focusing on Northern Europe, represented

16% of the Group’s revenues in Q4 2020.

- Premiergaming Ltd. launched a new brand in November 2020 operating under the
Malta’s gaming licence. The launch was successful and is generating revenues as
from mid November 2020

- The Group’s average daily Net Gaming Revenue for the first 41 days in Q1 2021 is
27% higher compared to the average daily Net Gaming Revenue in Q4 2020.

- The Board of Directors proposes distribution to shareholders of €8,998,200 by way of

dividend for the fiscal year 2020 (2019: €5,248,950), which corresponds to €0.12 per
share (2019: €0.07), an increase of 71.43%. Angler Gaming plc will not compensate
for currency exchange costs.

Events after the 4th Quarter:

- The new B-to-B partnership that the Group signed in Q3 2020, where the Group
provides the platform and the White Label partner provides the brand and new
customers, is now expected to be launched, generate revenues and achieve positive
cashflow during Q2 2021.

- The Group is in negotiations regarding further B-to-B partnerships.

- The Group is planning to launch a Sportsbook brand early Q2. The brand will initially
be launched in a few selected test markets.
 Key Facts for 2020 (1st January 2020 – 31st December 2020)

All-time high in Revenues, EBIT and Net Profit

All figures are compared to Jan-Dec 2019 if not explicitly stated otherwise

- Revenues increased by 52.11% to €43,392,002 (€28,526,664).

- EBIT increased by 100.49% to €14,103,138 (€7,034,383).
- EBIT margin of 32.50% (24.66%).
- Customer deposits increased by 28.19% to €92,674,661 (€72,292,951).
- 40.29% increase in newly registered customers to 253,293 (180,547).
- 117,634 new depositing customers (78,934), increase of 49.03%.
- Net Profit increased 88.57% to €11,506,010 (€6,101,572).
- Earnings per share of €0.1534 (€0.0814), increase of 88.45%.

Key Performance Indicators (EUR)

Q4 Q4 Jan-Dec Jan-Dec
2020 2019 2020 2019
Customer Deposits €25,286,513 €18,518,134 €92,674,661 €72,292,951
Active Customers 78,785 53,252 200,407 127,718
New Registered Customers 71,767 50,987 253,293 180,547
New Depositing Customers 31,093 25,865 117,634 78,934
Gross Game Win €14,035,676 €9,065,918 €49,448,197 €32,132,276
Net Game win €12,885,982 €8,612,887 €46,455,792 €30,801,110
Hold 51.06% 39.06% 52.83% 40.17%

* Definition Active Customers: Customer that wagered at least one bet in the indicated period
** Definition New Registered Customer: A new customer registered in the indicated period
*** Definition New Depositing Customer: A customer that deposited the first time in the indicated period
**** Definition Net Game Win: Real money bets minus real money wins
***** Definition Hold: Net Gaming Revenue / Customer Deposits
 Quarterly Revenues and EBIT
€ 14,000,000 € 4,500,000

€ 4,000,000
€ 12,000,000
€ 3,500,000
€ 10,000,000
€ 3,000,000
€ 8,000,000 € 2,500,000

€ 6,000,000 € 2,000,000

€ 1,500,000
€ 4,000,000
€ 1,000,000
€ 2,000,000
€ 500,000

€0 €0
Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020

Revenues EBIT

Revenues Earnings per share

€ 50,000,000 € 0.1800
€ 45,000,000 € 0.1600
€ 40,000,000 € 0.1400
€ 35,000,000
€ 0.1200
€ 30,000,000
€ 0.1000
€ 25,000,000
€ 0.0800
€ 20,000,000
€ 0.0600
€ 15,000,000
€ 10,000,000 € 0.0400

€ 5,000,000 € 0.0200
€0 € 0.0000
2016 2017 2018 2019 2020 2016 2017 2018 2019 2020

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
 Comments from the CEO

We are very pleased with the result in Q4 being the best quarter
ever in the Group’s history on all Key Performance Indicators:

✓ Revenues
✓ EBIT
✓ Net Profit
✓ Earnings per Share
✓ Customer Deposits
✓ New Registered Customers
✓ New Depositing Customers
Thomas Kalita, CEO Angler Gaming plc ✓ Acitve Customers.

Premiergaming Ltd, the Group’s company focusing on

Northern Europe, had a strong development in new depositing
customers, but the revenues suffered slightly from unusually
high customer winnings during Q4.

Q1 2021 has started very good. The Group’s average daily Net
Gaming Revenue for the first 41 days in Q1 2021 is 27%
higher compared to the average daily Net Gaming Revenue in
Q4 2020.

Our excellent people, operations and investments in various

fields continued to pay off.

We continue to focus on growing globally and invest in new B-

to-B co-operations, new brands and products. We are planning
to launch a Sportsbook in selected test markets in early Q2
2021. In addition, our implementation of a more robust risk-
averse approach as regards fluctuations in currency exchange
rates has resulted in a higher level of cash-in-hand compared
to trade receivables and less exposure towards currency
exchange volatility.

2020 was a very successful year where we continued our

strong growth with strong profit margin and all-time high in
all Key Performance Indicators. We continue our commitment
to invest in our people and continue to grow a strong and
flexible organisation throughout the Group. In addition, we
continue to look for acquisitions and other opportunities.
Consolidated Income Statement for period
Q4 Q4
Q4 Group Q4 Group Group Group Angler Gaming Angler Gaming
ended 31 December 2020 PLC PLC
2020 2019 2020 2019

€ € Jan - Dec Jan - Dec € €

2020 2019

Revenue 11,879,282 7,885,746 43,392,002 28,526,664

Cost of services sold (6,759,410) (4,355,779) (24,375,776) (16,020,829)

Gross profit / (loss) 5,119,872 3,529,967 19,016,226 12,505,835 - -

Marketing expenses (285,324) (789,507) (1,874,582) (3,134,397) (33,563) (6,914)

Personnel expenses (482,889) (330,898) (1,638,180) (1,243,072) (84,924) (26,084)
Other external expenses (248,638) (339,371) (1,512,349) (1,034,087) (30,367) (32,124)
Depreciation, amortization (1,914) (13,274) (5,820) (59,896) (24) (24)
Other operating income/expenses (57,367) 117,843 -
Operating expenses (1,076,132) (1,473,050) (4,913,088) (5,471,452) (148,878) (65,146)

Operating profit / (loss) 4,043,740 2,056,917 14,103,138 7,034,383 (148,878) (65,146)

Financial income / (expenses) (473,934) (52,174) (2,285,352) (771,487) (603) (208)

Income / (Loss) before tax 3,569,806 2,004,743 11,817,786 6,262,896 (149,481) (65,354)

Tax (97,376) (54,841) (311,776) (161,324) - -

Net income / (loss) for the period 3,472,430 1,949,902 11,506,010 6,101,572 (149,481) (65,354)

No of shares 74,984,995 74,984,995 74,984,995 74,984,995

Basic and dilute earnings per share 0.0463 0.0260 0.1534 0.0814

*Definition of Revenue: ‘Bet - win - jackpot contribution - bonus cost - loyalty points - manual adjustments user balances’.
**Definition of Cost of Services Sold: – Cost of sales includes: ‘Payment processing fees to payment suppliers, affiliate expenses, Gaming
License fees for products, software licence fees, gaming taxes and affiliate costs’
*** Financial income/expenses consist mainly of income/expenses related to fluctuations in currency rates
 Angler Gaming plc
Financial Report for the period ended 31 December 2020

Consolidated Statement of Financial Position

for the period ended 31 December 2020
G roup G roup Angler Gaming plc Angler Gaming plc
Period end Period end Period end Period end
Dec ember Dec ember December December
2020 2019 2020 2019

Euro Euro Euro Euro

Assets
Non-c urrent assets
Investment in subsidiaries ** - - 101,998 101,998
Intangible assets 1,184,304 1,182,347 - -
Property, plant and equipment 15,499 20,708 196 292

Total non-c urrent assets 1,199,803 1,203,055 102,194 102,290

Current assets
Trade and other receivables ** 9,726,980 6,401,068 7,503,847 12,551,232
Cash and cash equivalents 9,585,253 4,513,607 52,056 24,982

Total c urrent assets 19,312,233 10,914,675 7,555,903 12,576,214

Total assets 20,512,036 12,117,730 7,658,097 12,678,504

Equity and liabilities

Capital and reserves
Paid up capital ** 749,849 749,849 749,849 749,849
Non-refundable shareholder contribution 177,088 177,088 177,089 177,089
Premium Capital ** 1,815,803 1,815,803 1,815,802 1,815,802
Retained Earnings 13,681,612 7,424,552 4,899,183 2,676,391

16,424,352 10,167,292 7,641,923 5,419,131

Creditors : amounts falling due within one year

Trade and other payables ** 3,614,757 1,789,114 16,174 7,259,373
Taxation payable 472,927 161,324 -

Total liabilities 4,087,684 1,950,438 16,174 7,259,373

Total equity and liabilities 20,512,036 12,117,730 7,658,097 12,678,504

 Angler Gaming plc
Cashflow report for the period ended 31 December 2020

Consolidated Statements of Cashflow Position

for the period ended 31 December 2020
G roup Group Angler G aming plc Angler Gaming plc
Period end Period end Period end Period end
Dec ember December Dec ember December
2020 2019 2020 2019

Euro Euro Euro Euro

Cash f low f rom operating ac tivities

Prof it / ( Loss) bef ore taxation 11,817,786 6,262,896 2,222,793 4,925,529

Reconciliation to cash generated from operations:
Depreciation 5,820 59,896 96 96
Taxation (173) (96,401) - -

Operating loss before working capital changes: 11,823,433 6,226,391 2,222,889 4,925,625
Movement in trade receivables (2,081,284) (1,292,030) - -
Movement in other debtors (1,243,401) (203,423) 5,224,473 (52,070)
Movement in trade payables 870,255 205,214 -
Movement in other creditors 955,386 104,054 (7,420,288) (42,071)

Net cash used in operating activities 10,324,389 5,040,206 27,074 4,831,484

Cash f low f rom investing ac tivities

Cash issued by shareholders - - - -
Intangible fixed assets (2,569) - - -
Tangible fixed assets - (6,733) - -
Investment in subsidiaries - - - (1)

Net cash generated from/used in investing activities (2,569) (6,733) - (1)

Cash f lows f rom f inanc ing ac tivities

Dividends proposed and paid (5,248,950) (3,374,325) - (3,374,324)
Short term loans - - - -
Intra-group finance - - - (1,453,720)

Net cash generated from financing activities (5,248,950) (3,374,325) - (4,828,044)

Net movement in c ash and c ash equivalents in the year 5,072,870 1,659,148 27,074 3,440

Cash and cash equivalents at beginning of the year 4,512,383 2,853,235 24,982 21,542

Cash and c ash equivalents at end of year 9,585,253 4,512,383 52,056 24,982
 Date and Place for the next Annual General Meeting
The 2021 Annual General Meeting will be held on Friday the 18th June 2021. The place and
format will be announced later, depending on the Covid-19 situation.

Other information and reporting dates

This report has not been reviewed by the Company’s Auditor – The Annual Report and
Audited Financial Statements for 2020 will be published on the 30th of April 2021.

Q1 2021 report will be published on 12th of May 2021.

Q2 2021 report will be published on 12th of August 2021.

Q3 2021 report will be published on 10th November 2021.

Q4 and the annual report 2021 report will be published on 17th February 2022.

Covid19

While we recognise the extraordinary challenges surrounding the COVID-19 situation, our staff, mainly
working from home, have continued to serve customers and have kept all operations going. We are
mindful that in case of persistence of the pandemic, the business environment outlook over the long
term may present higher than normal levels of uncertainty, and a clear determination of the overall
financial impact cannot be made at this stage. Currently, however, there have been no observable
negative effects on the business. The Group has already taken and will continue taking steps to
safeguard the business, and the strategic priority remains the long-term sustainability of the Group with
a focus on growing the business.

Malta, 18th of February 2021

Board of Directors of Angler Gaming plc

Enquiries: Thomas Kalita, CEO

Mobile: +356 9966 2000

[email protected]

Angler Gaming plc

ANGLER GAMING PLC (PUBL) IS A MALTESE HOLDING COMPANY LISTED ON THE SWEDISH
STOCK EXCHANGE, SPOTLIGHT STOCK MARKET (ANGL), THAT INVESTS IN COMPANIES WHICH
PROVIDE GAMING SERVICES OVER THE INTERNET. ANGLER GAMING’S CORE BUSINESS IS TO
OWN AND ADMINISTER SHAREHOLDING IN INTERNET GAMBLING COMPANIES.