SnaiGroup1H2016Results

ended30June2016

5August2016

Disclaimer

Thispresenta4onincludescertainforwardlookingstatements,projec4ons,objec4vesandes4matesreflec4ngthecurrentviewsofthemanagementoftheCompanywithrespecttofutureevents.Forwardlookingstatements,projec4ons,objec4ves,es4matesandforecasts are generally iden4fiable by the use of the words “may”, “will”, “should”, “plan”, “expect”, “an4cipate”, “es4mate”,“believe”,“intend”,“project”,“goal”or“target”orthenega4veofthesewordsorothervaria4onsonthesewordsorcomparableterminology. These forward-looking statements include, but arenot limited to, all statements other than statements of historicalfacts,including,withoutlimita4onthoseregardingtheCompany'sfuturefinancialposi4onandresultsofopera4ons,strategy,plans,objec4ves,goalsandtargetsandfuturedevelopmentsinthemarketswheretheCompanypar4cipatesorisseekingtopar4cipate.Due to suchuncertain4esand risks, readersare cau4onednot toplaceundue relianceon such forward looking statementsasapredic4onofactualresults.TheCompany'sabilitytoachieveitsprojectedobjec4vesorresultsisdependentonmanyfactorswhichareoutsidemanagement'scontrol.Actualresultsmaydiffermateriallyfrom(andbemorenega4vethan)thoseprojectedorimpliedintheforward-lookingstatements.Suchforward-looking informa4oninvolvesrisksanduncertain4esthatcouldsignificantlyaffectexpectedresultsandisbasedoncertainkeyassump4ons.All forward-looking statements included herein are based on informa4on available to the Company as of the date hereof. TheCompany undertakes no obliga4on to update publicly or revise any forward-looking statement, whether as a result of newinforma4on, future events or otherwise, except asmay be required by applicable law. All subsequent wriRen and oral forward-looking statements aRributable to the Company or persons ac4ng on its behalf are expressly qualified in their en4rety by thesecau4onarystatements.

FabioSchiavolinCEO

ChiaffredoRinaudoCFO

Speakers

4

o  Goodperformanceontotalwagers:+7.1%growthonpro-formabasisto5.36Bln€:•  GrowthofGamingMachineswagerssEllontrack(+4.1%)despitehighertaxaEonandAWPpayoutreducEon•  StronggrowthofSportBeMngretail(+22.6%),posiEveimpactfromEuropeanChampionship(parEallypostedin3Q16)•  SignificantgrowthofSportBeMngonline(+53.3%),increasingcustomercrossacquisiEonfromretailchannel

o  63,5KAWPsand10KVLTsmanaged.700beYngshopsand900beYngcorners(+30POSopenedintheperiod).Morethan75%ofmanagedAWPupdatedto70%payoutasofendofJune

o  SIS/FinscomPoSfullyreopenedandrevamped.Outsourcingstrategyalreadystartedin3Q16

o  Unfavourablepayoutin2Q16(85,2%,vs81,5%in1Q)raised1Haveragepayoutto83,3%(81,7%in1H15),becerthan86,7%ofmarketperformance

Businesstrends

CostreducEonprogram

1Hresults

o  RobustgrowthonEBITDA:67.7mln€vs57.5mln€in1H15(+10,2mln€).o  AdjustedEBITDALTMupto132,8mln€o  NFPimprovedto440.1mln€,i.e.27.mln€cashgeneraEoninlasttwelvemonths

o  Leverage3,3x(NFP/AdjEBITDALTM)

1Half2016Highlights

o  CogematintegraEonunderwaywith18mln€expectedsynergiesofwhich:•  3.2mln€costsavingalreadyachievedin1H16•  8,0mln€savingstobeachievedin2H16•  6,8mln€furthersynergiestobeachievedinthefirstmonthsof2017

o  MainsynergiescomingfromintegraEonofTLCnetworksanddatacenters(4,0mln€),raEonalizaEonoflogisEcandassistanceservicestoPoS(2,5mln€)andheadquarterconsolidaEon(3,5mln€)

Euromillion Proforma Proforma

FinancialKPI 1H2016 1H2015 Delta % PFLTMTotalRevenues 442,4 504,5 -62,1 -12,3% 938,8o/wnonrecurringrevenues 3,1 28,5 -25,4 -89,1% 7,0ContributionMargin 139,9 123,5 16,3 13,2% 268,6EBITDA 67,7 57,5 10,2 17,8% 124,8AdjustedEBITDA 70,5 60,0 10,5 17,5% 132,8EBIT* 39,0 42,8 -3,9 -9,0% 24,0NetIncome* -0,4 1,3 -1,7 -58,3*Nonrecurringitemsincluded -1,4 22,0 -13,0

Capex 13,1 11,2 20,4

NetFinancialPosition 440,1 467,5 440,1

5

o  TotalRevenuesof442.4mln€decreasedvs1H15duetoBarcresttransacEonandAWPtaxincrease

o  ContribuEonMargin increased to 139.9mln € (+13%), despite unfavourable payout and thanks to posiEveperformanceofwagers

o  EBITDA up by 10.2mln € to 67.7mln € due to increased wagers/ CM and iniEal synergies from CogematintegraEon

o  EBITDALTMupto124.8mln€(114.6mln€asof31December2015)

o  Capexof13.1mln€includes8.4mln€(64%)relatedtothereplacementofAWPboard(payoutchangeat70%)

o  NFPimprovedto440.1mln€

1Half2016KPIs

6

1HEBITDABridge

57,567,7

EBITDA1H15

1H16BeMngPayouteffect

2016vs2015

taxa]on

SIS/Finscomcontribu]on

CostSynergywith

Cogemat

Marginsfromwagers

growth

EBITDA1H16

-5,0

+2,5+8,5

+1,0 +3,2

Mln€

o  1HEBITDAperformancemainlydrivenbywagersgrowtho  2,5 mln € posiEve impact from 2016 Stability Law, mainly due to new beYng taxaEon scheme and fast

replacementof74%payoutAWPboards

o  1mln€posiEveimpactonEBITDAfromSIS/FinscomPoS

o  AWP&VLTposi]veperformance:increaseinwagersoutweighednegaEveeffectofhighertaxaEon

o  SportsBeMngbrilliantperformance:posiEvegrowthdriven by product & content management, SIS/Finscom PoS reopening along and new tax scheme.Significant results despite the unfavourable payout.PosiEve contribuEon also from Euro FootballChampionship(31mln€inJune)

o  Online Gaming strong performance: markeEng andoperaEonal focus drove wagers up with posiEveeffectsonCM

o  ContribuEonMarginbreakdownwellbalancedamongdifferentareas

o  Cogemat integraEon significantly increased theGaming Machine contribuEon to Group EBITDA andreducedtheexposuretobeYngpayoutswings

o  Payoutriskdecreasedto23,6%onCM(from27%of2015pro-formadata)

7

Businessperformance

1H2016Data

Euromillion

1H16 PF1H15 % 1H16 PF1H15 %

AWPs 2.017 1.989 1,4% 21,8 21,1 3,2%VLTs 1.783 1.660 7,4% 40,5 39,5 2,8%

GamingMachines 3.800 3.649 4,1% 62,3 60,6 2,9%

SportsBetting(retailchannel) 375 306 22,6% 22,9 16,7 37,3%SportBetting(onlinechannel) 134 87 53,3% 10,1 7,6 33,3%HorseBetting 126 125 0,8% 1,8 2,0 -7,4%VirtualEvents 162 150 8,2% 12,7 12,4 2,7%

Betting 796 667 19,3% 47,6 38,6 23,1%

OnlineGames(Skills,Casinò,Bingo) 443 372 19,2% 7,6 6,2 22,7%

Bettingprovider 256 261 -1,9% 3,9 4,1 -5,2%

Financialservices 60 50 18,9% 0,5 0,4 4,7%

Subsidiaries 18,0 13,6 32,4%

SNAIGroup 5.356 5.000 7,1% 140 124 13,2%

Wagers ContributionMaringBusiness

AWP15,6%

VLT29,0%

SportBetting23,6%

Horses&VE10,4%

Online5,5%

Other16,0%

CMbreakdown

AWP37,%

VLT33,3%

SportBetting9,50%

Horses&VE5,37%

Online8,28%

Other5,90%

Wagersbreakdown

8

Higherpayoutin2Q16(85.2%)ledto1H16performanceof83.3%comparedto81.7%in1H15

Payouttrend

1Q 2Q 1H 3Q 4Q 2H Fullyear2016 81,5% 85,2% 83,3%2015 82,1% 81,2% 81,7% 80,7% 83,8% 82,6% 82,2%2014 74,0% 82,3% 78,0% 73,6% 84,0% 79,6% 78,7%2013 73,3% 81,7% 77,1% 81,9% 79,5% 80,5% 78,8%

PAYOUTTREND

73,3%

81,7% 81,9%

79,5%

74,0%

82,3%

73,6%

84,0%

82,1%81,2%

80,7%

83,8%

81,5%

85,2%

66,0%

68,0%

70,0%

72,0%

74,0%

76,0%

78,0%

80,0%

82,0%

84,0%

86,0%

88,0%

1Q 2Q 3Q 4Q

SNAIPayouttrend(QoQ) 2013 2014 2015 2016

124,8

-13,0

-21,2

-61,2

-1,9

27,4

0

20

40

60

80

100

120

140

EBITDALTM NonrecurringCosts

Capex Interests TaxesandDeltaWC

CashGenerationLTM

9

CashFlowandNetFinancialPosiEonEvoluEon

o  27.4mln€cashgenera]onoverlasttwelvemonths

o  139mln€cashavailableasofendofJune

o  NonrecurringcostsmainlyrelatedtoM&Adeals

o  InterestcostsincludeformerCogematbond;totalinterestcostsin2016under60mln€

LTMCashgenera-on

NFP1H15467.5mln€

NFP1H16440.1mln€

27,4

10

o  CurrenttrendonbeYngandonlinewagerslikelytoconEnueover2H2016

o  GamingMachineswagersandmarginsshouldstabiliseduetoachievedreplacementofAWPinternalboard(70%payout)

o  Uncertaintyon]mingofthebeMngtender

o  CompeEEononbeYng retail likely to increaseaheadof thebeYng tender. SNAI ready tocompetewithfocusedacquisiEoncanvassforhighperformingPoS

o  CogematMergertobecompletedbyyear-end

o  Fulldevelopmentanddeploymentof5VLTplanormsoverSNAInetwork

o  LaunchofnewintegratedbeMngplagormandrolloutovertheextendedgroupnetworkofPOS

o  OutsourcingofSISandFinscomPoSalreadystartedin3Q2016.35%shopstobeoutsourcedin2016

2Half2016Outlook

Agenda

Q&A