6-K - BRSL - Equibles

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 OF THE

SECURITIES EXCHANGE ACT OF 1934

For the month of November 2021

Commission File Number 001-36906

INTERNATIONAL GAME TECHNOLOGY PLC

(Translation of registrant’s name into English)

66 Seymour Street, Second Floor

London, W1H 5BT

United Kingdom

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
Form 20-F	☒	Form 40-F	☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):				☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):				☐

International Game Technology PLC Investor Day Materials

On November 16, 2021, International Game Technology PLC (NYSE:IGT) (the “Company” or “IGT”) held a virtual Investor Day. A copy of the presentations made, and posted on IGT’s Investor Relations website, during the Investor Day are furnished herewith as Exhibits 99.1 through 99.5.

The following exhibits are furnished herewith:

Exhibit Number	Description
99.1	Presentation “IGT: A Global Leader in Lottery & Gaming Strongly Positioned for Profitable Growth,” dated November 16, 2021
99.2	Presentation: “Global Lottery: Strengthening Industry Leadership with Accelerated, Recurring Revenue Growth Outlook,” dated November 16, 2021
99.3	Presentation: “Global Gaming: Delivering Innovation, Growing Market Share, and Improving Margins,” dated November 16, 2021
99.4	Presentation: “Digital & Betting: A Fast-growing Leader with Best-in-class Solutions,” dated November 16, 2021
99.5	Presentation: “Driving Compelling Value Creation Through Profitable Growth and Balanced Capital Allocation,” dated November 16, 2021

EXHIBIT INDEX

Exhibit Number	Description
99.1	Presentation “IGT: A Global Leader in Lottery & Gaming Strongly Positioned for Profitable Growth,” dated November 16, 2021
99.2	Presentation: “Global Lottery: Strengthening Industry Leadership with Accelerated, Recurring Revenue Growth Outlook,” dated November 16, 2021
99.3	Presentation: “Global Gaming: Delivering Innovation, Growing Market Share, and Improving Margins,” dated November 16, 2021
99.4	Presentation: “Digital & Betting: A Fast-growing Leader with Best-in-class Solutions,” dated November 16, 2021
99.5	Presentation: “Driving Compelling Value Creation Through Profitable Growth and Balanced Capital Allocation,” dated November 16, 2021

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: November 16, 2021	INTERNATIONAL GAME TECHNOLOGY PLC
	By:	/s/ Pierfrancesco Boccia
		Pierfrancesco Boccia
		Corporate Secretary

a99-1

IGT A Global Leader in Lottery & Gaming Strongly Positioned for Profitable Growth Marco Sala Chief Executive Officer

2 Forward Looking Statements $13B $13B Cautionary Statement Regarding Forward-Looking Statements This presentation may contain forward-looking statements (including within the meaning of the Private Securities Litigation Reform Act of 1995) concerning International Game Technology PLC and its consolidated subsidiaries (the “Company”) and other matters. These statements may discuss goals, intentions, and expectations as to future plans, trends, events, dividends, results of operations, or financial condition, or otherwise, based on current beliefs of the management of the Company as well as assumptions made by, and information currently available to, such management. Forward-looking statements may be accompanied by words such as “aim,” “anticipate,” “believe,” “plan,” “could,” “would,” “should,” “shall”, “continue,” “estimate,” “expect,” “forecast,” “future,” “guidance,” “intend,” “may,” “will,” “possible,” “potential,” “predict,” “project” or the negative or other variations of them. These forward-looking statements do not guarantee future performance and speak only as of the date on which such statements are made. These forward-looking statements are subject to various risks and uncertainties, many of which are outside the Company’s control. Should one or more of these risks or uncertainties materialize, or should any of the underlying assumptions prove incorrect, actual results may differ materially from those predicted in the forward-looking statements and from past results, performance, or achievements. Therefore, you should not place undue reliance on such statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include (but are not limited to) the factors and risks described in the Company’s annual report on Form 20-F for the financial year ended December 31, 2020 and other documents filed from time to time with the SEC, which are available on the SEC’s website at www.sec.gov and on the investor relations section of the Company’s website at www.IGT.com. Except as required under applicable law, the Company does not assume any obligation to update these forward-looking statements. You should carefully consider these factors and other risks and uncertainties that affect the Company’s business. All forward-looking statements contained in this news release are qualified in their entirety by this cautionary statement. All subsequent written or oral forward-looking statements attributable to International Game Technology PLC, or persons acting on its behalf, are expressly qualified in their entirety by this cautionary statement. Comparability of Results All figures presented in this release are prepared under U.S. GAAP, unless otherwise noted. Non-GAAP Financial Measures Management supplements the reporting of financial information, determined under GAAP, with certain non-GAAP financial information. Management believes the non-GAAP information presented provides investors with additional useful information, but it is not intended to nor should it be considered in isolation or as a substitute for the related GAAP measures. Moreover, other companies may define non-GAAP measures differently, which limits the usefulness of these measures for comparisons with such other companies. The Company encourages investors to review its financial statements and publicly-filed reports in their entirety and not to rely on any single financial measure. Adjusted EBITDA represents net income (loss) from continuing operations (a GAAP measure) before income taxes, interest expense, foreign exchange gain (loss), other non-operating expenses, depreciation, impairment losses, amortization (service revenue, purchase accounting and non-purchase accounting), restructuring expenses, stock-based compensation, litigation expense (income), and certain other non-recurring items. Other non-recurring items are infrequent in nature and are not reflective of ongoing operational activities. For the business segments, Adjusted EBITDA represents segment operating income (loss) before depreciation, amortization (service revenue, purchase accounting and non-purchase accounting), restructuring expenses, stock-based compensation, litigation expense (income) and certain other non-recurring items. Adjusted EBITDA – discontinued operations represents income from discontinued operations (a GAAP measure) before income taxes, interest expense, depreciation and amortization, and gain on sale of discontinued operations. Adjusted EBITDA – combined represents Total Adjusted EBITDA plus EBITDA – discontinued operations. Management believes that the non-GAAP measures just mentioned are useful in providing period-to-period comparisons of the results of the Company’s ongoing operational performance. Net debt is a non-GAAP financial measure that represents debt (a GAAP measure, calculated as long-term obligations plus short-term borrowings) minus capitalized debt issuance costs and cash and cash and equivalents. Cash and cash equivalents are subtracted from the GAAP measure because they could be used to reduce the Company’s debt obligations. Management believes that net debt is a useful measure to monitor leverage and evaluate the balance sheet. Net debt leverage is a non-GAAP financial measure that represents the ratio of Net debt as of a particular balance sheet date to Adjusted EBITDA for the last twelve months (“LTM”) prior to such date. Prior to the disposal of the Italian B2C gaming businesses in the second quarter of 2021, management calculated the Net debt leverage ratio as the ratio of Net debt as of a particular balance sheet date to the LTM of Adjusted EBITDA – combined prior to such date. Management believes that Net debt leverage is a useful measure to assess our financial strength and ability to incur incremental indebtedness when making key investment decisions. Free cash flow is a non-GAAP financial measure that represents cash flow from operations (a GAAP measure) less capital expenditures. Management believes free cash flow is a useful measure of liquidity and an additional basis for assessing IGT’s ability to fund its activities, including debt service and distribution of earnings to shareholders. Constant currency is a non-GAAP financial measure that expresses the current financial data using the prior-year/period exchange rate (i.e., the exchange rates used in preparing the financial statements for the prior year). Management believes that constant currency is a useful measure to compare period-to-period results without regard to the impact of fluctuating foreign currency exchange rates. A reconciliation of the non-GAAP measures to the corresponding amounts prepared in accordance with GAAP appears in the tables in this release. The tables provide additional information as to the items and amounts that have been excluded from the adjusted measures.

3 Key Messages 1 2 3 4 Built a solid foundation for profitable growth over the past two years Leveraging industry- leading, innovative content and solutions to drive revenue growth and operating profit margin expansion across all segments Compelling and achievable financial objectives for 2022 – 2025 Continue a disciplined capital allocation strategy to maximize value for all stakeholders

4 Vision Drive growth in the global gaming industry through greater player engagement and responsible management Mission Provide best-in-class content, services and solutions to the global, regulated gaming industry Strategy Grow IGT’s top line and margins across all business segments, leveraging industry-leading, innovative content and solutions and optimized operations We are IGT

5 Revenue Profile (2019 shown as a pre-pandemic reference point) B2B Gaming Leader with Diverse Business Model and Substantial Recurring Revenue 2019 YTD '21 Service Product Sales 77% 23% 87% 13% 2019 YTD '21 US & Canada Italy Rest of World 55% 24% 21% 54% 33% 13% 41% 2019 YTD '21 Global Lottery Global Gaming Digital & Betting 57% 26% 70% 4% 41% 2% Note: $ millions, except noted otherwise; figures reflect continuing operations (1) Non-GAAP measure, see disclaimer on page 2 and reconciliations to the most directly comparable GAAP measures in Appendix for further details (2) As of December 31, 2020 $4.0B $480M $1.5B ~11,000 ~450 100+ 2019 Revenue 2019 Operating Income 2019 Adjusted EBITDA(1) Employees(2) Gaming Licenses(2) Countries(2)

6 Global Lottery Gaming Content Gaming Machines & Other Specialty Products Casino Management Systems & Cashless Solutions Proprietary Technology Solutions Facility Management (Software, Hardware, Services) Lottery Operations Outsourcing Instant Ticket Services (Printing) iLottery Content & Solutions iGaming Solutions and Proprietary Content iGaming Distribution of Third-Party Content Sports Betting Omnichannel Turnkey Solutions Sports Betting Hardware Commercial operators in regulated markets Government entities Customers Full Product Offering Leading Global B2B Provider of Content and Solutions for Regulated Gaming Markets, Including Turnkey Lottery Operations Outsourcing Global Gaming Digital & Betting

7 • Achieved business and operating efficiencies, delivering higher profit margins • Reduced leverage to 3.8x(1) in 3Q21 from 4.4x(2) in 3Q19 and 5.7x(3) in 3Q20 • Positioned Digital & Betting segment to capture growth in North America (revenue up ~120% YTD 2021 vs. YTD 2019) • Increased flexibility and focus by organizing along key verticals • Legal entity and organizational realignment of Digital & Betting segment expected to be completed within 12 months to support evaluation of potential separate public listing • Divested B2C Italian gaming business • Refocused Gaming portfolio on high-growth product verticals and geographies • Committed to capital investments in Digital & Betting and iLottery Built a Solid Foundation for Profitable Growth Over the Past Two Years Drove an accelerated recovery from pandemic Readied our organization to capture potential portfolio opportunities Realigned our portfolio to high-growth opportunities (1) Non-GAAP measure, see disclaimer on page 2 for further details (2) Non-GAAP measure, calculation predates Italy asset sales and based on LTM Adjusted EBITDA – Combined; see disclaimer on page 2 (3) Non-GAAP measure, calculation predates Italy asset sales and based on LTM Adjusted EBITDA – Combined; see disclaimer on page 2 and schedule in Appendix for further details

8 1 Global leadership in large, regulated gaming markets with secular tailwinds and accelerating digital growth 2 Diverse and resilient portfolio aligned with attractive end-markets 3 Unique and sustainable competitive advantages 4 Focused strategy to Grow, Innovate, and Optimize 5 Set aggressive but achievable financial goals from 2022 - 2025 Compelling Investment Opportunity 6 Disciplined capital allocation strategy to maximize value for all stakeholders

9 ~2% ~8% ~20%+ Digital Channel Betting Retail Lottery Retail Gaming Retail 21% 2009 2019 2025 Secular trends Strong player demand, governments’ drive to fund good causes and support fiscal policies Digital transformation Technology advancements and structural changes in player preferences drive incremental growth CAGR: 2-3% CAGR: 4-5% ~200 ~260 ~340 Large and Opportunity-rich Markets Driven by Secular Trends and Accelerating Digital Growth 1 U.S., Canada, Europe, and Latin America Gaming Market Size by Segment (GGR in $B) Source: H2 Gambling Capital and internal estimates; “Gaming Retail” includes casino, bingo & other; “Digital Channel” includes regulated iGaming, iLottery, and online sports betting % Digital channel

10 #1 Global B2B Gaming Provider Industry Leadership Sustained by Prominent Market Positions2 North America terminal revenues#2 International terminal sales units#1 Global system revenues#2 U.S. iGaming market share with only proprietary slot/RNG content #1 U.S. Sports Betting solution providerTop 3 Global Lottery provider(1)#1 U.S. Lottery market share(1) ~75% U.S. iLottery provider(2)#2 Italy Lottery market share(1) 90+% #1 Canada iGaming market share with only proprietary content Note: Positioning based on revenues if not specified otherwise; gaming rankings based on 2019 Eilers & Krejcik Gaming industry reports; North America refers to U.S. and Canada (1) Global and U.S. market share data based on 2020 lottery sales processed under IGT facility management/central systems contracts; Italy market share based on YTD 2021 wagers (2) Based on GGR, Q2’21 Global Lottery Global Gaming Digital & Betting

11 Broad-based, Diversified Portfolio Generates Significant Advantages Unique and Compelling Strategic Fit Enables our Portfolio to Deliver Superior Value to all Stakeholders Diversification and Resilience Creates natural hedge against variability in performance across segments Content Synergies Leverages brands, themes, game dynamics, prize and jackpot structures, and IP across segments to create development synergies Cross-selling Unlocks full multi-segment portfolio with certain customers Technology Platforms Applies advancements across segments, resulting in broad-based IP and development and deployment efficiencies Operational Efficiencies Leverages lean manufacturing processes, optimized field support, and shared support functions 2

12 Sustainable Competitive Advantages Sustained and trusted government relations Stakeholder engagement with 100+ government entities Licensable in all regulated jurisdictions Player-centric mindset Deep player knowledge built on player closeness across geographies, extensive market research and rigorous game testing Creative talent ~70% of our gaming producers produced one or more titles which are included in industry top performing game rankings(1) R&D and innovation Scale and stability of portfolio support a leading R&D investmentOur Competitive Advantages Unmatched one-stop shop Portfolio options along the full technology stack, including turnkey solutions Extensive content library Leading portfolio of games (4,000+ titles, 400+ new titles per year) and blockbuster titles (1) Per Eilers industry report

13 Strategic Focus on Profitable Growth Across All Segments Grow IGT’s top line and margins across all business segments, leveraging industry-leading, innovative content and solutions and optimized operations GROW OPTIMIZE INNOVATE

14 GROW Clear Path to Achieving Accelerated Growth in Each Segment Continuous Evaluation of Strategic Opportunities to Further Align Portfolio to High-growth Areas Grow North America Core market share and maintain VLT leadership in upcoming replacement cycle Grow global installed base Invest in content, technology, and solutions to drive SSS growth on expanded player base and player spend Win market share in Instant Ticket Services Deliver above-market iLottery growth Expand in under-penetrated product verticals and geographies Deliver top-line growth building on higher baseline Drive growth and increase profit generation as we recover from the pandemic Maintain market leadership in high-growth markets Leverage market leadership to benefit from regulatory-driven market openings Allocate capital to support growth Build on strong, long-term partnerships with iGaming, Sports Betting, and casino operators Global Lottery Global Gaming Digital & Betting 4

15 Drive customer success Customer facing Improve efficiency and effectiveness Strong Pipeline of Innovations to Drive Customer Success Continue to Expand and Monetize Large and Highly-differentiated IP Portfolio INNOVATE 4 Player facing Enhance experience & engagement AI to improve understanding of player preferences Cashless solutions for Lottery & Gaming customers Data analytics to drive SSS Cloud-based solutions across all verticals Lottery retail solutions Blockchain for Lottery transactions iLottery Player Management Solutions Innovative game content Gaming next-gen cabinets Omnichannel experience Sports Betting cabinets

16 OPTIMIZE Multiple Opportunities to Drive Higher Profit Margins Supply chain & logistics simplification; strategic partnerships in manufacturing and engineering Optimization of resources and reduced complexity of product offering and geographic mix Continued, transformational cost optimization based on operational process re-engineering Supply Chain Optimization Product Margin Enhancement Operational Excellence 4

17 Set Aggressive But Achievable Goals5 (1) Non-GAAP measure, see disclaimer on page 2 for further details 2022-2025 Goals 1 2 3 ~$4.0B in cumulative Cash from Operations generated in 2022-2025 period Mid-single-digit organic Revenue CAGR Mid-teens Operating Income CAGR 4 ~ $2.4B in cumulative Free Cash Flow(1) generated in 2022-2025 period

18 Disciplined Capital Allocation Plans6 (1) Non-GAAP measure, see disclaimer on page 2 for further details 1 2 3 Reinstated quarterly cash dividend of $0.20 per common share; ~$170M/year Support existing portfolio, especially the fast-growing Digital & Betting and iLottery activities Continue to delever, achieving 2.5x-3.5x net debt leverage(1) across investment cycles 4 Implementing $300M multi-year share repurchase program Our Focus

19 Strong Global Management Team with 160+ Years Combined Industry Experience Fabio Celadon EVP Strategy & Corporate Development Robert Vincent Chairperson IGT Global Solutions Corporation Enrico Drago CEO Digital & Betting Max Chiara EVP Chief Financial Officer Christopher Spears SVP General Counsel Marco Sala CEO Renato Ascoli CEO Global Gaming Fabio Cairoli CEO Global Lottery Dorothy Costa SVP Global People & Transformation Scott Gunn SVP Corporate Public Affairs Kim Barker Lee Chief Diversity Officer Wendy Montgomery SVP Marketing, Communications & Sustainability

20 Culture is Built on Social Responsibility and a Rich and Diverse Community Incentive Compensation Performance Goals for Senior Leadership Team Include D&I Objectives in 2022 Diversity & Inclusion (D&I)Environmental, Social and Corporate Governance (ESG) "AA" rating, the highest in the sector “Prime” category Outperformer 4.6 of 5 First supplier achieving both Responsible Gaming certifications We have a rich set of D&I initiatives… … that are widely recognized … that allowed us to achieve a strong position We have a defined ESG strategy… 2nd highest ranking participant Bloomberg Index (2020) 2019 CasinoBeats Award Dedicated Office of D&I Fostering sustainable operations D&I groups and network of global D&I ambassadors Global and regional D&I councils Valuing and protecting people Advancing responsibility Supporting communities D&I goal for senior leadership team

21 Today’s Key Messages Over the past two years, we built a solid foundation for profitable growth: • Drove an accelerated recovery from pandemic • Readied organization to capture potential portfolio opportunities • Realigned portfolio to high- growth opportunities Our strategy will drive revenue and operating profit margins across all segments, leveraging industry-leading, innovative content and solutions and optimized operations We set compelling and achievable financial objectives for 2022 – 2025: • Mid-single-digit revenue CAGR • Mid-teens operating income CAGR • ~$4.0B in cash from operations and ~$2.4B in free cash flow(1) We will continue a disciplined capital allocation strategy: • Support existing portfolio, especially Digital & Betting and iLottery activities • Net debt leverage(1) target of 2.5x - 3.5x over the investment cycle • Dividend reinstatement • Multi-year share repurchase program 1 2 3 4 (1) Non-GAAP measure, see disclaimer on page 2 for further details

Appendix

23 Reconciliations of Non-GAAP Measures For the year ended December 31, 2019 Business Global Global Digital & Segment Corporate Total Lottery Gaming Betting Total and Other IGT PLC Loss from continuing operations (3) Provision for income taxes 131 Interest expense, net 411 Foreign exchange gain, net (40) Other non-operating income, net (21) Operating income (loss) 697 222 (43) 877 (399) 478 Goodwill impairment - - - - 99 99 Depreciation 200 167 16 383 3 386 Amortization - service revenue 206 - 0 206 - 206 Amortization - non-purchase accounting 25 7 1 33 3 36 Amortization - purchase accounting - - - - 192 192 Restructuring 2 2 16 21 4 25 Stock-based compensation 6 1 1 13 13 27 Other 1 - - 1 5 6 Adjusted EBITDA 1,136 404 (8) 1,533 (79) 1,454 $ in millions; all amounts reflect continuing operations unless otherwise noted (1) Includes amortization of upfront license fees (2) Primarily includes transaction-related costs

24 Summary of Adjusted EBITDA and Leverage From Continuing Operations and Including Discontinued Operations Q4'19 Q1'20 Q2'20 Q3'20 Adjusted EBITDA 365 261 164 287 Adjusted EBITDA - discontinued operations 69 44 4 65 Adjusted EBITDA - combined 435 305 167 352 LTM Adjusted EBITDA 1,078 LTM Adjusted EBITDA - combined 1,260 Net debt 7,243 Net debt leverage LTM Adjusted EBITDA 6.7x LTM Adjusted EBITDA - combined 5.7x $ in millions; all amounts reflect continuing operations unless otherwise noted

a99-2

Global Lottery Strengthening Industry Leadership With Accelerated, Recurring Revenue Growth Outlook Fabio Cairoli | CEO, Global Lottery Jay Gendron | COO, Global Lottery

3 Key Messages 1 2 3 5 Accelerating growth through innovation and elevated player consumption Sustainable market leadership grounded in competitive advantages and role as strategic growth partner Positioned to capture growth opportunities; recurring revenue model and presence in all industry segments Investing to capitalize on multiple, focused growth initiatives Committed to delivering mid- single-digit revenue CAGR and ~500 basis points of operating margin expansion compared to pre- pandemic levels 4

4 Established, Growing Global Lottery Leader with 90+% Service Revenue and High Margins Revenue Profile (2019 shown as a pre-pandemic reference point) $2.3B 30% 50% ~75% 90+% ~85 ~4,200 2019 Revenue 2019 Operating Income Margin 2019 Adjusted EBITDA(1) Margin U.S. Market Share Italy Market Share Customers Served(2) Employees(2) 95% 96% 5% 4% 2019 YTD '21 Service Product Sales 48% 54% 48% 41% 5% 5% 2019 YTD '21 Multi-jurisdiction Jackpots Draw Games Instants 44% 43% 40% 46% 16% 11% 2019 YTD '21 US & Canada Italy Rest of World Note: U.S. market share data based on 2020 lottery sales processed under IGT facility management/central system contracts; Italy market share based on YTD 2021 wagers; totals may not add due to rounding (1) Non-GAAP measure, see disclaimer on page 2 and reconciliations to the most directly comparable GAAP measure in Appendix for further details (2) As of December 31, 2020

5 3-5% Growth Profile Expected 2019-2025 33% 27% 26% 10% 4% • Elevated by higher average player consumption and innovation • Growing iLottery adoption on player demand and regulation Industry Growth Accelerating on Elevated Player Consumption and Continued Innovation Source: LaFleur’s, H2 Gaming Capital 2019 Global Lottery Sales: $269B By Region and Product Segment • Growth sustained by innovation and regulation • Proven resilience in times of crisis throughout history 35% 36% 29% Instant 4% Jackpots -3% Draw 6% 2% CAGR 2015-2019 North America 4% Europe (excl. Italy) 1% Asia 0% Italy 4% Other 3%CAGR ‘15-’19 CAGR ‘15-’19

6 Leadership Grounded in Strong Competitive Advantages Global Lottery Competitive Advantages Sustained and trusted government relations Unparalleled player knowledge Global insights; unique lottery outsourcing capabilities Superior suite of products and value-added solutions Retail; omnichannel; iLottery; instants Dedicated sales development team focused on driving customer growth Global footprint; game and retail innovation; customer partnerships Talented, industry-leading team Strong, recognized reputation and expertise in driving the industry R&D and innovation Industry-leading investment

7 Highly Focused Team with 200+ Years of Combined Industry Experience Srini Nedunuri VP iLottery Jay Gendron COO Global Lottery Vito Albanese SVP Italy Sales & Retail Operations Giampaolo Borghini SVP & CFO Global Lottery Fabio Cairoli CEO Global Lottery Stefano Monterosso SVP Lottery Product & Sales Development Francesco Parola SVP Italy Lottery Operations Rachel Barber SVP & CTO Global Gaming and Lottery Kate Szorc VP People & Transformation, Global Lottery Giuliano Frosini SVP Italy Public Affairs, Media, & External Relations Sridhar Jawaharlal SVP & CTO iLottery

8 Facility Management • 32 Facility Management contracts, 24 in the U.S. • 56 Lottery central systems currently deployed worldwide • Serving 8 of the 10 largest Lotteries in the world • ~75% U.S. market share Instant Ticket Services (Printing) • 44 long-term instant ticket services contracts • ~11% global market share (and growing) Lottery Operations Outsourcing • 7 Operator/Private Manager contracts • 90+% Italy market share iLottery • 8 iLottery FM/platform contracts worldwide • 3 out of 10 iLottery platforms in the U.S. Leading Global Footprint with Presence in All Industry Segments and Unique Lottery Operations Outsourcing Capabilities Note: U.S. market share data based on 2020 lottery sales processed under IGT facility management/central system contracts; Italy market share based on YTD 2021 wagers

9 Market Leadership in Facility Management Drives Recurring Revenue Across All Games, Sustaining Long-lasting Customer Partnerships • Provides technology required for all lottery operations, including the central system and retail terminal network • Proven growth partner in supporting lotteries with game innovations across instant ticket, draw, and jackpot games, leveraging retail/sales execution best practices • Unique sales development team devoted to supporting customer innovation • Remunerated with percentage of sales on all lottery games provided by all suppliers • Exclusive provider with long-term contractual relationships Hardware – Software – Services Facility Management Customers utilize IGT solutions & services to sell all lottery games Draw games, Jackpot games, and Instant tickets Player Sales

10 82% 68% Gross Profit Long-term Relationships Provide Substantial Stability & Predictability; Favorable Contract Renewal Cycle Ahead Revenue Top 10 Contracts Contribution to 2019 Global Lottery Financial Results Favorable contract renewal cycle, resulting in highly predictable revenue and moderating capital intensity Average duration of top 10 contracts of 14 years, with 6 years currently remaining Strong and long-lasting partnerships with average customer relationship of ~30 years Successful in converting 100% of top 10 incumbent contract rebids

11 GROW OPTIMIZE INNOVATE • Continue to support customer sales growth • Accelerate iLottery development • Increase market share in Instant Ticket Services (Printing) • Ready to pursue geographical expansion • Leverage technology evolution to gain systems efficiencies and add greater services • Deploy market-leading game innovation • Develop expansive retail solutions • Provide customers with unique player knowledge Well-identified Strategies to Accelerate Growth

12 • Enhance jackpot games • Expand and enrich Keno and monitor games • Expand price options • Improve player value with add-on games • Optimize draw game frequency and times • Develop and deploy new games Supporting Customer Growth with Best-in-class Innovation that Leverages Unique Player Knowledge and Dedicated Sales Development Team FUTUREGAMETM New game testing In-depth market research Product enhancements / platforms Real-world feedback Proven innovation track record and best-in-class knowledge of player needs Sales development team is unique in the industry • Located in Europe, AsiaPac, North America, and Latin America • Supporting more than 60 customers Best-in-class player knowledge and cross fertilization • Global footprint, unique lottery outsourcing capabilities • Expansive player research database • Expand price points • Leverage extended-play games • Build on successful families/themes • Further strengthen prize structures • Graphic/visual innovation • Grow underdeveloped geographies INNOVATE Draw-based Games Instant Ticket Games

13 Retail touch points and Mobile Apps to digitize the player journey Improve retail lottery awareness, promotions, and value-added services supporting customer operations Incremental sales opportunities expanding retail chain footprint and in-lane solutions Expanding Retail Solutions to Support Incremental Sales and Adapt to Evolving Player Needs and Behaviors INNOVATE

14 Category Drivers iLottery Market Outlook Fueled by Numerous Growth Drivers • Increased regulatory acceptance – several U.S. jurisdictions expected to go live in the next 5 years • Expanding player base • Incremental consumption occasions • eInstant content evolution driving more rewarding player experiences • Introduction of full draw game retail portfolio • Progressive best practices adoption for game portfolio, player management, and promotions • All geographies expected to grow, with the U.S. representing the largest incremental opportunity GROW Double-digit Market Growth Expected ($B) Global Sales U.S. Sales $12 $22 $2 $4 2019 2021E 2025E 2021-2025: 15-17% CAGR 2021-2025: 32-34% CAGR Source: H2 Gaming Capital

15 Investing in iLottery to Maximize Growth Opportunities GROW Growth Programs • Investing to offer best-in-class systems, solutions, products, and services • New high-performing platform deployed in Georgia; rolling out to other customers – First cloud-based remote game server (RGS) solution – Features state-of-the-art player management capabilities • Customer adoption of best practices across marketing programs, CRM, eInstant content, and payout • Enriching and expanding eInstant content library, building on successful recent launches • Leveraging FM relationships to implement omnichannel solutions as bridge strategy from retail to iLottery adoption • Continue to invest in R&D and talent $28 $64 2019 2021E 2025E Targeting Growth Above Market Rate IGT iLottery Revenue ($M) 2021-2025: 20-22% CAGR

16 Growth Programs • Effective investments in recent years established a solid and growing market position • 44 long-term instant ticket services contracts • Expanding share with key customers • State-of-the-art, innovative product portfolio • Exclusive and patented “Infinity” digital printing technology • Pursue new customers in favorable contract renewal cycle; opportunities in several jurisdictions HolographicInfinity Increasing Share in Growing Instant Ticket Services GROW 7 9 2019 2021E 2025E Targeting High Single-Digit Growth Standard Units Produced (Billions) 2021-2025: 7-9% CAGR

17 Cloud-based Evolution Designed to Drive the Industry and Deliver Compelling Benefits OPTIMIZE Developing Industry-leading Solutions • Focused R&D investment to develop next generation solutions and services • Leading iLottery forward with first-in-market, cloud- based e-Instants platform – Successful rollout in Georgia and Kentucky – 3 additional deployments planned in next 6 months • Developing cloud readiness for land-based Aurora platform and related applications • Delivering compelling benefits for customers – Scalability – Faster time to market – Improved responsiveness – Lower capital intensity

18 $2.3 $2.2 ~$2.8 $2.8-$3.1 Financial Objectives Global Lottery Revenue ($B) 2021-2025 Outlook: Committed to Accelerating Growth and Stronger Margins Growth initiatives and increased player engagement driving mid-single-digit revenue growth versus pre-pandemic period of 2015-2019 Top-line momentum, operational discipline yield ~500 bps(2) of operating profit margin expansion Capital intensity moderates on favorable rebid cycle; sustained investments to fund growth (1) 2021 area shaded in light blue represents the revenue impact of Lottery discrete benefits; 2021-2025 CAGR calculated excluding the discrete benefits (2) At the mid-point of the target margin range 2019 2020 2025E2021E(1) 2019-2025: 4-5% CAGR 2021-2025: 2-4% CAGR(1) 30% 30% 33-36% OI Margin %

19 Key Messages 1 2 3 5 Accelerating growth through innovation and elevated player consumption Sustainable market leadership grounded in competitive advantages and role as strategic growth partner Positioned to capture growth opportunities; recurring revenue model and presence in all industry segments Investing to capitalize on multiple, focused growth initiatives Committed to delivering mid- single-digit revenue CAGR and ~500 basis points of operating margin expansion compared to pre- pandemic levels 4

Appendix

21 Reconciliations of Non-GAAP Measures – FY’19 $ millions; all amounts reflect continuing operations For the year ended December 31, 2019 Global Lottery Operating income (loss) 697 Depreciation 200 Amortization - service revenue 206 Amortization - non-purchase accounting 25 Restructuring 2 Stock-based compensation 6 Other 1 Adjusted EBITDA 1,136

a99-3

1 Global Gaming Delivering Innovation, Growing Market Share, and Improving Margins Renato Ascoli | CEO, Global Gaming Nick Khin | COO, Global Gaming

3 Key Messages 1 2 3 5 Large and attractive industry on a solid path to recovery Leading market position driven by innovation, diversified product portfolio, and strategic global footprint Seasoned leadership team with deep and broad industry experience Clear strategy to grow market share and revenue while improving margins Confident in delivering 10+% revenue CAGR and significant margin expansion in the 2022 – 2025 period 4

4 Sizable and Profitable Business with a Diversified Product Portfolio and Global Footprint Note: 2019 data presented except employee data which is as of December 31, 2021; units sold and installed base as reported, excluding Poker units; totals may not add due to rounding (1) Non-GAAP measure; see disclaimer on page 2 and reconciliations to the most directly comparable GAAP measures in Appendix for further details $1.6B 13% 26% ~42K ~50K ~4,400 2019 Revenue 2019 Operating Income Margin 2019 Adjusted EBITDA(1) Margin Annual Machine Unit Sales Global Installed Base Employees Revenue Profile (2019 shown as a pre-pandemic reference point) 51% 59% 49% 41% 2019 YTD '21 Service Product Sales 35% 29% 34% 40% 13% 13% 17% 18% 2019 YTD '21 Terminal Products Terminal Services Gaming Systems Other 70% 82% 30% 18% 2019 YTD '21 North America International

5 Large and Attractive B2B Market with Clear Path to Recovery 2019 Global Gaming Revenue ($B) By Geography and Product 85% of Industry Revenue from Sale or Lease of Gaming Machines Source: 2019 global gaming revenue estimate from Eilers & Krejcik Gaming; segmentation estimates by IGT based on multiple sources, including H2 Gaming Capital, GBGC, broker research, and company filings Market Growth Expectations • B2B market returns to pre- pandemic levels by 2023/2024 • ~1 year after B2C market recovery 4.1 3.0 0.7 0.4 1.5 2.6 1.6 1.4 0.2 0.5 0.2 0.2 North America International Total Market 3.5B 4.7B 8.2B Gaming Machines (Service) Gaming Machines (For Sale) Systems Tables

6 Industry Leader in North America Unit Shipments in 2019, 2020 and YTD’21 Market Leader in Key Products and Geographies 2019 Market Share by Geography # Ranking Position Estimated Revenue Market Share ~25% #2 North America ~25% #1 Latin America and the Caribbean ~15% #2 Australia and New Zealand ~15% #2 Western Europe #1 Player Podium Position • Poker • Video Lottery Terminals • Premium • Core Video 2019 North America Market Positioning • CDS Washington • WLA Participation (NY, RI, DE) • Mechanical Reel • Systems Source: IGT estimates based on multiple sources, including Eilers & Krejcik Gaming, H2 Gaming Capital, GBGC, broker research, and company filings

7 Sustainable Competitive Advantages Best-in-class cashless and payments solution Leadership team with deep industry experience Player-centric content portfolio Creative talent combined with global studio footprint Long history of innovation Global Gaming Competitive Advantages Comprehensive compliance Leading portfolio of games and IP

8 59% 32% 9% Number of top performing titles from 2019 to June 2021(1) 18 Premium Lease 27 Wide Area Progressive 20 Core Video 79 Core Stepper Studio Leadership Studio Talent (Location) Leveraging Global Studio Footprint to Produce Industry-leading Content Reno/Las Vegas (U.S.) Excellence Center for Poker, Stepper and Premium Products Moncton (Canada) VLT Excellence Center Belgrade (Serbia) Eastern Europe Excellence Center Graz (Austria) Core Products Excellence Center APAC Studios (Sydney, Beijing) APAC Markets Excellence Center North America Europe APAC 50% Female leaders 193 yrs Experience in the industry ~70% Producers with top performing game ranking(1) (1) Per Eilers & Krejcik Gaming research

9 Comprehensive Content Portfolio Attuned to Specific Product Verticals Strong Performing Content (select examples)Product Verticals Premium Core Video Lottery Terminals Specialty Markets (CDS & Class II)

10 Strong Leadership Team with 230+ Years Combined Industry Experience Dubravka Burda SVP Global Studios Marco Tasso SVP Global Manufacturing Operations & Services Jim Vasquez VP Supply Chain & Hardware Engineering Ken Bossingham SVP Sales U.S., Mexico & Caribbean David Flinn VP South America & Canada Dallas Orchard SVP & COO APAC Renato Ascoli CEO Global Gaming Victoria Armstrong VP People & Transformation, Global Gaming Rachel Barber SVP & CTO Global Gaming and Lottery Drew Kelley SVP & CFO Global Gaming Nick Khin COO Global Gaming Mark MacCombie SVP Sales EMEA

11 Accelerating Revenue and Profit Growth with a Well-defined Strategy GROW OPTIMIZE INNOVATE • Expand market share in North America Core Video • Grow global service revenues related to multi-level progressives (MLP) • Drive mechanical reel leadership with launch of DiamondRSTM cabinet • Expand in under-penetrated niches • Leverage Canada VLT replacement cycle and new operator market openings • Expand penetration in casino management systems • Operational excellence • Product simplification • Margin improvement • Deploy best-in-class new cabinets • Introduce innovative game features • Expand R&D for market-attuned content • Continuous upgrades of best-in-class systems solutions • Tap into additional revenue streams from payment solutions and IP pool

12 Strong Cabinets, Content Offering, and Promising Pipeline to Further Grow Market Share and ASP Commitment to Growth Supported by Strong Foundation and Pipeline Core Video Market Share Evolution – North America (%) Core Video ASP – North America ($K) PeakSlant49TMPeakSlant32TM ~800 bps ~15K in 2016 +20% ~18K in 2021 Market Share Growth 2016-2021(1) Best-in-class Hardware 50+ test partners in North America, including for MLP Disciplined Release Each global studio delivered at least one superstar hit in last 3 years(2) Graz Reno Las Vegas/ Reno Belgrade Proven Skills Across Studios GROW (1) Internal estimates (2) Per Eilers & Krejcik Gaming research

13 Multi-level progressive growth helps offset removal of unsupported, low-yielding units; stabilization expected in 2022 net of one-offs (DE/RI adjustment, NY casino privatization) 2020 yield reduction driven by inactive units; multi-level progressive expansion driving yield growth Best-ever IGT content pipeline Multi-level Progressive Improvements Support Stabilization of Installed Base 2021 IGT Game Performance (vs. floor average) IGT North America Yield ($/day) IGT North America Installed Base (Units in ‘000s) 1.5x 2.0x 2.5x 3.0x Test bank discipline applied to multi-level progressives since 2020 GROW

14 Robust G2E Launch of New Content and Cabinets Upcoming New Titles / Key Features (select examples) MLP Core Video Mechanical Reels System G2E Cabinet Launches DiamondRSTM Next-generation mechanical reel Peak65TM Premium large- format cabinet INNOVATE Bonusing Resort Wallet™IGTPay™

15 Long Innovation History and Deep IP Portfolio Recognized by Numerous Industry Awards 20+ Awards in the last 5 years 3.8K Gaming Patents 60 Patents on cashless & payments INNOVATE “Top 20 Most Innovative Gaming Technology Products Awards” for Sphinx 4D and Cardless Connect (Casino Journal) “Slot Provider of the Year” (International Gaming Awards) and “Best Slot Game” for IGT’s Fortune Coin (British Casino Awards) “Top 20 Most Innovative Gaming Technology Product Awards” (Casino Journal) “Casino Supplier of the Year Award” (Global Gaming Awards London) “Best Consumer-Service Technology Award” for IGT Advantage (Global Gaming Business Magazine) “Technology Provider of the Year Award” (2021 International Gaming Awards) “Product Innovation of the Year” (2021 Global Gaming Awards Las Vegas) for IGT Resort Wallet and IGTPay Cashless Technologies “Best Consumer-Service Technology” (2021 GGB Gaming & Technology Awards) for CrystalBetting™ Terminal with multigame content Selection of IGT awards

16 ✓ 1 wallet 1 step to sign in 1 transfer ✓ End-to-end supplier ✓ Attractive player experience: one step funding/one account ✓ Can leverage other IGT ADVANTAGE® products like Bonusing and Intelligent Offer ✓ Fully integrated external funding with IGTPay ✓ Can move quickly by deploying into existing customers installed base • Agnostic providers of cashless technologies • Requires integration with other casino management system (“CMS”) providers • Requires 2 accounts from Player (one for the CMS, one for the eWallet) • May produce a sub-standard player experience eWallet Providers • Requires integration with eWallet providers for external funding • Requires 2 accounts from Player (one for the CMS, one for the eWallet) • May produce a sub-standard player experience Casino Management System Providers Best-in-class, Fully Integrated Cashless Solution with Recurring Revenue Model Competitor Offerings (either/or) INNOVATE

17 OPtiMa Structural Cost Savings Program Driving Higher Profitability Key Efficiency Programs Implemented/LaunchedGross Margin Recovery 2019-2021 Operational Excellence Product Simplification and Optimization Margin Improvement • Manufacturing footprint: supply chain re-design to ensure more efficient cost profile and proximity to markets • Low-value activities: relocation of non-core activities to lower cost countries with a proactive make/buy approach • Content interoperability: develop content to run on a variety of cabinets • Creative hub: game studios specialized based on market “affinity” with constant effort to acquire creative talent • Technology processes: re-focus on lower cost locations where large talent pool is available • Hardware lifecycle: phased introduction of cabinets by market to ensure most efficient capital allocation • Real estate rationalization: leverage work from home experience to reduce real estate footprint • Digital merchandising: Solutions that need not be replaced when changing content 30% 30% 40% OPTIMIZE 100 60 90 100 110 2019 2020 Q1'21 Q2'21 Q3'21 Gross Profit Margin % Indexed to 2019 80+%

18 2021-2025 Outlook: Solid Revenue Growth, Meaningful Margin Expansion Note: All amounts presented reflect continuing operations • Financial Objectives Global Gaming Revenue ($B) 13% NA 28-30% OI Margin % 2019-2025: 1%-2% CAGR 2021-2025: 11%-13% CAGR ~$1.7-$1.8 ~$1.1 $0.8 $1.6 2019 2020 2025E2021E Growth initiatives leading to 10+% revenue CAGR R&D allocated to high return projects; strategic CapEx deployment Streamlined SG&A on disciplined cost management Operating income growth driven by cost efficiencies (~40% of improvement) Operating income margin more than 2.0x pre-pandemic level

19 Key Messages 1 2 3 5 Large and attractive industry on a solid path to recovery Leading market position driven by innovation, diversified product portfolio, and strategic global footprint Seasoned leadership team with deep and broad industry experience Clear strategy to grow market share and revenue while improving margins Confident in delivering 10+% revenue CAGR and significant margin expansion in the 2022 – 2025 period 4

Appendix

21 Reconciliations of Non-GAAP Measures – FY’19 $ millions; all amounts reflect continuing operations For the year ended December 31, 2019 Global Gaming Operating income (loss) 222 Depreciation 167 Amortization - non-purchase accounting 7 Restructuring 2 Stock-based compensation 1 Other - Adjusted EBITDA 404

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1 Digital & Betting A Fast-growing Leader with Best-in-class Content & Solutions Enrico Drago | CEO, Digital & Betting Joe Asher | President, Sports Betting

3 Key Messages 1 2 3 4 Well-positioned as a leading content and solutions provider in high-growth markets leveraging strong partnerships Market leadership in iGaming built on best-in-class content and product innovation Comprehensive and omnichannel B2B sports platform mostly targeting fast-growing and profitable B2B U.S. retail market Committed to delivering 20+% revenue CAGR and robust operating margin expansion in the 2022 – 2025 period

4 Sports Betting Market Assumptions • ~90% penetration(1) in the U.S. • ~$55 average GGR per adult in the U.S. iGaming Market Assumptions • ~30% penetration(1) in the U.S. • ~$160 average GGR per adult in the U.S. North America is a $26B Market Opportunity $13B ~$26B+ Source: IGT estimates based on market data from H2 Gaming Capital, Eilers & Krejcik Gaming, U.S. Census Bureau, U.S. Bureau of Economics, broker research, and company filings (1) Percentage of total U.S. population estimated to have access to legalized iGaming and / or Sports Betting North America Addressable Market by 2025 (B2C, GGR) $13B

5 We Achieved Impressive Scale Out of the Gate… (1) Non-GAAP measure; see disclaimer on page 2 and reconciliations to the most directly comparable GAAP measures in Appendix for further details (2) IGT estimate, market share on proprietary content Revenue Profile (2019 shown as a pre-pandemic reference point) $123M 23% 32% 1/3 3/4 27 YTD 2021 Revenue YTD 2021 Operating Income Margin YTD 2021 Adjusted EBITDA(1) Margin 2020 Total North America GGR Of Headcount Focused on Game Development North America States / Provinces Live by End of 2021 54% 77% 41% 20% 5% 3% 2019 YTD '21 PlayCasino PlaySports Other 76% 86% 24% 14% 2019 YTD '21 U.S. & Canada Rest of World Canada U.S. 2020 iGaming Market Share(2) ~25% ~50%

6 Omnichannel and multiple points of access 50+ sports properties live across U.S. 400+ kiosks 2 iGaming omnichannel jackpots End-to-end product offering Omnichannel sports full turnkey solution Full suite of iGaming "Plug & Play" games Outstanding talent Senior industry executives leading 300 game and software developers Cumulative executive experience of 40+ years in casino and 20+ years in sports Speed to market During last 3 years live on day 1 across: • 4 iGaming jurisdictions • 18 sports jurisdictions Competitive Advantages Strong commercial relationships 250 skins live globally 57 skins in North America (100%) 43 retail sportsbooks, 12 mobile Scalability and versatility Content-as-a-Service for both cloud and on premise Hub and spoke for sports …While Building on Our Sustainable Competitive Advantages

7 Our Focus Remains on Innovation and Growth GROW INNOVATE • Leverage market leadership to benefit from strong growth in North America • Accelerate penetration of turnkey solutions, building on strong commercial pipeline • Grow content portfolio through third-party partner program • As a separate segment, PlayDigital has the resources and flexibility to invest in strategic growth opportunities • Continue to invest in products and solutions • Expand game features to further enhance player experience (free spins, tournaments, personalized jackpots) • Develop expansive retail solutions • Enhance player data analytics capabilities OPTIMIZE • Evaluating potential separate public listing of Digital & Betting business

8 Experienced Management Team to Deliver Our Strategy Gil Rotem President iGaming Enrico Drago CEO Digital & Betting Joe Asher President Sports Betting Steve Kastner Sr. Director Compliance Tammy Godfrey Sr. Director People & Transformation Sam Patel VP & CFO Digital & Betting Victoria Dolan VP Deputy General Counsel Sridhar Jawaharlal SVP & CTO Digital

9 iGaming Content is King (and Queen)

10 Revenue Share Model Ensures B2B Market Will Continue to Grow as Total Addressable Market Expands iGaming Market Expected to Reach $1.3B in Addressable Revenue for B2B Providers U.S. iGaming market • ~30% penetration • ~$160 average GGR per adult Source: IGT estimates based on market data from H2 Gaming Capital, Eilers & Krejcik Gaming, U.S. Census Bureau, U.S. Bureau of Economics, broker research, and company filings B2C Market (GGR) Projected B2B TAM (GGR) Canada iGaming market • ~8.5% annual growth from 2021-2025 • Ontario move to competitive market structure will accelerate growth $5B $13B 2021E 2025E 2021E $1.2B 2025E2024E2023E2022E $0.5B $1.3B $0.6B $0.8B ~3X 2025 Market Assumptions

11 Only Content Provider in North America Integrated into 100% of iGaming Platforms Covering All North America iGaming Territories While Serving Most of the Largest Operators • British Columbia (BCLC) • Manitoba (BCLC) • Quebec (LQ) • Ontario (OLG) • Alberta (AGLC) • Atlantic (ALC) Canada • New Jersey 22 operators, 26 skins • Pennsylvania 12 operators, 14 skins • Michigan 14 operators, 11 skins • Connecticut 2 operators, 2 skins U.S. Always live on day 1 with 50+ games and additional 50 games ready to go as operators demand, thanks to our full market compliance “IGT has provided some of the most recognizable land-based content to BetMGM's online players and are a premium and valued partner to our company. They've been a great asset in helping our casino business achieve the number one spot across the U.S. and in all four of our live markets." Matthew Sunderland, Vice President of Gaming, BetMGM “The ability to bring IGT’s library of iconic titles from the retail casino floor and into the palm of our customers hands while delivering a superior gaming experience has been a direct benefit that helps drive customer acquisition within our casino vertical.” Jesse Chemtob, GM of Casino, FanDuel

12 Compelling Portfolio Built on Quality, Variety, and Mobile Optimization 120+ active titles, 25+ new titles/year Top IGT land performers + unique digital IP Multi-language, multi-currency Slots, progressives, table games, video poker Device-optimized assets Flexible payout percentages

13 Leveraging a History of Innovation Omnichannel Partners Program Digital Natives Progressive Jackpots

14 Leveraging 40 years of Knowledge and IP in Land-based Gaming Omnichannel: Players Gravitate to Beloved Land-based Titles INNOVATE • Back catalog games continue to perform strongly in newly regulated markets – Familiarity and land-based experience is a strong draw for players – 5 “classics” among top 10 • Leveraging deep IP portfolio in a variety of ways: – Sequels – Brand extensions • Variations of successful table games IP and white-label versions • Mobile-centric approach; we don’t “translate” content into digital games but adapt each game specifically for the mobile experience – Jackpot versions – Combinations with popular external IP

15 Original Theme, Original Mechanic Original Theme, Proven Mechanic Classic Theme, Original Mechanic Digital Natives Extend Portfolio and Enrich Player Experience INNOVATE Established creative process to build games • Evaluate IP (land, digital, jackpot) • Market input (players, competitors, operators) • KPIs (cost, timing) • Producer “buy-in”

16 Progressive Jackpot ~10% of iGaming GGR Today; Additional Concepts in Development Progressive Jackpot Games – A Core Strength & Differentiator MegaJackpots MegaJackpots long established as a leading network progressive jackpot around the world Current markets: EU, NJ, MI, CAN Target new markets 2022: CT, WV 2021 portfolio games: 6 2022 new games: 2 Current markets: CAN Target new markets 2022: NJ 2021 portfolio games: 5 2022 new games: 3 INNOVATE PowerBuck$ remains the industry’s only omnichannel progressive jackpot Highly successful in Canada; extending to additional markets, such as NJ PowerBucks$

17 Target 15-20 games from 6+ partners in 2022 Full spectrum of partner program content available in 2023 Third-party studios to build games with IGT tools and proven math models Developers accelerate and de-risk their creation, compliance and market access IGT customers benefit from more quantity and variety in content from one remote game server (RGS) ecosystem Game Development Partners Program GROW IGT Foundry

18 Industry’s Best Batting Average 18

19 Retail market: • ~30% of total market GGR • ~70% addressable market (i.e., non-vertically integrated) Revenue Share Model Ensures B2B Market Will Continue to Grow as Total Addressable Market Expands Significant B2B Addressable Market Despite Ongoing Vertical Integration Note: Totals may not add due to rounding Source: IGT estimates based on market data from H2 Gaming Capital, Eilers & Krejcik Gaming, U.S. Census Bureau, U.S. Bureau of Economics, broker research, and company filings Total market: • ~90% penetration by 2025 • $55 average yearly spend per adult B2C Total Market (GGR) B2B Addressable Market (GGR) $3.9B $9.1B $4.5B 2021E 2025E $1.4B $1.7B 2025E $0.8B $0.7B $4.9B $1.1B 2021E $1.1B 2022E 2023E $1.6B $2.3B $4.0B 2024E $2.0B $2.9B Online Retail $1.6B $2.3B $3.1B Online market: • ~70% of total market GGR • ~25% addressable market (i.e., non-vertically integrated) ~3X 2025 Market Assumptions $13.0B Online Retail

20 • In most states, retail margin outperforms online due to: – Product mix with pre-match substantially higher than in-play – Higher percentage of parlays played in retail – Less price sensitive customers • Under current business conditions, vertical integration in retail is unlikely to happen to the same extent as in online: – Regional retail customers more likely to opt for outsource, turnkey solutions – Larger customers prefer to outsource retail solution due to regulatory and operational complexity of retail environment (e.g., FanDuel) – Retail involves hardware such as kiosks and tills; operators are not manufacturers • Omnichannel: Retail channel will continue to be essential for major operators: – Creates brand awareness and experience and enhances the multichannel player experience (customer service, payments) – Provides additional revenue streams to the operators Well-Positioned to Benefit from Structurally High Retail Margins Source: H2 Gaming Capital, Eilers & Krejcik research H1’21 Hold Percentage (win as % of wager) 12% 11% 11% 10% 9% 9% 8% 8% 6% 8% 8% 8% 8% 5% IA PA NV IN MI IL NJ Retail Online

21 Expanding U.S. Footprint Puerto Rico WA OR CA AK AZ UT NV ID MT NM TX OK KS NE MN WI OH MO TN KY NC AL GA FL HI DC ME VTNH RIWY CO ND SD IA IL IN MI PA AR LA MS SC WV NY NJ DE MD VA Currently live or in development Announced partnership Pipeline Adopted regulation (1) Represents live, in development (LA), and announced partnerships (WI) as of September 2021 57 Retail sportsbooks 21 State penetration(1) 12 Mobile sportsbooks MA CT

22 What Partners Say About Us Trusted Partner for Many Leading Operators High-quality Customer Base “When FanDuel Group was formalizing its U.S. expansion strategy, we prioritized partnerships with trusted, forward-thinking companies such as IGT that could enable quick market access via a flexible solution that could scale with FanDuel’s growth opportunities.” “IGT’s scalable PlaySports technology, turnkey services, multi-state capabilities and vast sports betting experience make them the Meruelo Group’s ideal growth partner in Arizona, giving Arizona Coyotes fans the option to place pre and in-game wagers online or at our soon-to-open retail sportsbook.” “Implementing IGT's proven PlaySports platform and trading advisory services will strongly enhance Oneida Casino as a premier gaming destination.” “We believe the power, versatility and scalability of the IGT PlaySports technology will enable Resorts World Las Vegas to offer a world-class sports betting program and will help us deliver compelling sports betting experiences to Las Vegas visitors and Nevadans alike.”

23 Hybrid Offering of SaaS(1) / PaaS(2) Products, Land-based Gaming Solutions and Commercial Services Solutions for Every Channel Through a Flexible and Adaptable Sports Betting Platform Betting Promotions Automated Risk Control Betting Events Management Derivatives Engine Centralized Trading Player Profiling Content Control In-Play Pre-Game Distribution Channels HTML5 / XML / JSON & APIs Mobile Tills & TerminalsPOS Kiosks/SSBTs Display boards & IP TV (1) Software-as-a-Service (2) Platform-as-a-Service • Replicate architecture across jurisdictions • Tailored to each state’s unique distribution approach • Supports state-wide retail and mobile wagering • Leverages geolocation services • Local service team support • Highly scalable infrastructure Truly omnichannel platform facilitating a tailored yet fast deployment

24 Continuing to Invest in Enhancing Capabilities and Technology Featureful Profitable Desirable Usable Efficient Futureproof • No excuse for a customer not to select IGT based on feature gaps • Maximizes gaming turnover and revenue for operators • Attracts new customers with a product that is highly configurable and scalable • Back-office toolset, compliance and business process integration • Implied cost management in operation • Manage internal costs for deployment and operations • Allows IGT to continue with aggressive delivery plans • Continued investment in underlying platform to support business goals Trading / Betting Bigger offering • Increase betting offers depth and breadth of services/markets Tech / Compliance Footprint • Reduce deployment and maintenance costs and timing Procedures • Technology, procedures & product change to allow for automation of install and upgrade script Omnichannel Online • Multi State/Property Mobile App • Player favorite Kiosk • NV ticket redemption and digital branding New content management • New UI to replace PRISM • Alignment with CDU content management Multi-state wallet • Manage the player transition between wallet instances • Auto balance transfer • Consolidated statement …informs our innovation priorities for 2022 and beyondA clear product strategy… INNOVATE

25 Hardware Innovation Tailored to Customers and Players • Provides enhanced multi-game experience with a modern and ergonomic cabinet design • Both PeakBartopFlexTM and CrystalFlexTM are the result of extensive technology know- how guided by a player-centric mindset • Contract-based, revenue share business model PeakBarTopFlexTM CrystalFlexTM INNOVATE

26 Diverse Tailwinds Present Significant Growth Opportunities over the Near-and-Long Term Multiple High-growth Opportunities • Operators seeking new vendor relationships for incremental capabilities and functionality • Several tribal and local casinos seeking full turnkey solution Robust pipeline of new customers • Increasingly profitable revenue share model as customers continue to service accelerating consumer demand • Expansion into new markets using PlaySports’ infrastructure • Additional opportunity to sell services and hardware Growth with existing customers • PlaySports is uniquely positioned to benefit from current and anticipated legalization of sports betting by new U.S. jurisdictions • Leveraging existing IGT commercial relationships across 600+ casino operators in the U.S. New jurisdictions GROW

27 2021-2025 Outlook: High Revenue Growth and Robust Margin Expansion Note: $ in millions • Financial Objectives Digital & Betting Revenue ($M) NA 6% 30+% OI Margin % 2019-2025: 25+% CAGR 2021-2025: 20+% CAGR ~$160 $115 $91 2019 2020 2025E2021E Drive 20+% revenue CAGR from current and new customers and new jurisdictions Maintain a profitable business while scaling the organization Sustain R&D investment in best-in-class content and solutions (proprietary and third party) Optimum CapEx investment in state- of-the-art infrastructure technology

28 Key Messages 1 2 3 4 Well-positioned as a leading content and solutions provider in high-growth markets leveraging strong partnerships Market leadership in iGaming built on best-in-class content and product innovation Comprehensive and omnichannel B2B sports platform mostly targeting fast-growing and profitable B2B U.S. retail market Committed to delivering 20+% revenue CAGR and robust operating margin expansion in the 2022 – 2025 period

Appendix

30 Reconciliations of Non-GAAP Measures – YTD 2021 $ millions; all amounts reflect continuing operations For the nine months ended September 30, 2021 Digital & Betting Operating income (loss) 28 Depreciation 11 Amortization - non-purchase accounting - Restructuring (1) Stock-based compensation - Other - Adjusted EBITDA 39

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Driving Compelling Value Creation Through Profitable Growth and Balanced Capital Allocation Max Chiara Chief Financial Officer

3 Key Messages 1 2 3 Resilience of portfolio and culture of operational excellence driving swift recovery above pre-pandemic levels Strategic focus on responsibly funding growth coupled with continuous cost discipline Robust cash flows poised to reduce leverage and strengthen credit profile Balanced capital allocation plan to drive accelerated profit growth and substantial shareholder returns 4 (1) At the mid-point of the 2025 target margin range (2) Non-GAAP measure, see disclaimer on page 2 for further details Mid-single-digit revenue CAGR 500+ basis points of operating margin expansion(1) ~$4.0B in cash from operations and ~$2.4B in free cash flow(2) (cumulative) 2022 – 2025 commitments:

4 Financial Track Record: Resilience of Portfolio and Swift Cost Actions Drive Recovery in 2021 Above Pre-pandemic Levels Revenue Operating Income/Loss Adjusted EBITDA(1) $0.5 -$0.1 ~$0.9 2019 2020 2021E 2019 2020 2021E $1.5 $1.0 >2019 levels 2019 2020 2021E 12% NA ~22% 36% 32%Margin 85% $3.1 ~$4.1$4.0 77% 85% +Low Single-Digits Margin Product Sales Service Note: $ billions, except noted otherwise; figures reflect continuing operations (1) Non-GAAP measure, see disclaimer on page 2 and reconciliations to the most directly comparable GAAP measures in Appendix for further details (2) Non-GAAP measure, see disclaimer on page 2 for further details; 2019 and 2020 net debt leverage GAAP measure, calculation predates Italy asset sales and based on LTM Adjusted EBITDA Combined Cash from Operations Free Cash Flow(1) Net Debt(2) 2019 2020 2021E $0.6 $0.85-$0.9$0.9 $7.4 $7.3 $6.1 Net Debt Leverage(2) 4.3x 6.4x 3.8x $0.5 $0.3 >2019 levels 2019 2020 2021E 2019(2) 2020(2) Sept. 30,20201

5 Our Framework for Long-term Value Creation Multi-year Targets Provide Runway to Compelling Value Creation GROW OPTIMIZE INNOVATE Accelerated revenue growth and increased cash flow conversion to support higher shareholder returns Structural cost savings and a more efficient capital structure create conditions for more profitable growth Responsible and disciplined investments in R&D and CapEx to drive top-line growth

6 2021-2025 Outlook: Accelerating Growth and a Clear Path to Stronger Margins 69% 27% 4% Global Lottery Global Gaming Digital & Betting 2021E Revenue Mix • Financial Objectives Mid-single-digit organic revenue growth, expected to reach $4.6B-$5.0B in 2025 • Building on leadership positions in Lottery and Gaming • Incremental contribution from high-growth Digital & Betting Note: $ in billions, except where noted otherwise; all amounts presented reflect continuing operations; business plan assumes constant FX Mid-teens operating income CAGR, reaching 26%-29% margin in 2025 reflecting 500+ bps of expansion, at the midpoint • Improvement driven by top-line growth, gross margin expansion, and operating expense leverage • All segments contributing to margin improvement Consolidated Revenue ($B) OI Margin % 2019-2025: 2-4% CAGR 2021-2025: 3-5% CAGR 12% $4.0 2019 NA $3.1 2020 26-29% $4.6-$5.0 2025E $4.1-$4.3 20-22% 2022E ~22% ~$4.1 2021E GROW

7 Building Blocks to Substantially Higher Operating Profit and Margin ~22% 26%-29% (1) At the mid-point of the target margin range 2021 Lottery Discrete Benefits • Italy gaming hall closures • LMA incentives and elevated jackpots in the U.S. • Aggregate benefit of ~300 basis points Optimization Initiatives • Supply chain optimization and product margin enhancement actions Fast Growing Initiatives • Lottery: iLottery and instant ticket services • Digital & Betting: double-digit CAGR Core Business Growth • Lottery: same-store sales growth • Gaming: return to 2019 levels by 2023 GROW Corporate and Other

8 $91 $115 ~$160 • Stronger revenue growth profile in 2019- 2025 vs. pre-pandemic period of 2015-2019 • Benefit from emerging instant ticket services and iLottery opportunities • Top-line growth, operating cost discipline driving margin expansion • Robust, double-digit revenue CAGR across all activities • Software-as-a-Service/Content-as-a-Service model provides compelling margin leverage as business scales All Segments Driving Revenue and Profit Growth • Double-digit revenue CAGR fueled by global market recovery, strategic growth initiatives • Significant structural cost savings, mostly achieved by 2022 • Substantial margin improvement over the plan period $2.3 $2.2 ~$2.8 $2.8-$3.1 OI Margin % 2019-2025: 4-5% CAGR 2021-2025: 2-4% CAGR(1) 30% 30% 33-36% 2019 2020 2025E2021E(1) Global Lottery ($B) Global Gaming ($B) Digital & Betting ($M) $1.6 $0.8 ~$1.1 $1.7-$1.8 OI Margin % 2019-2025: 1-2% CAGR 2021-2025: 11-13% CAGR 13% NA 28-30% 2019 2020 2025E2021E OI Margin % 2019-2025: 25+% CAGR 2021-2025: 20+% CAGR NA 6% 30+% 2019 2020 2025E2021E GROW Note: $ billions, except noted otherwise; figures reflect continuing operations; amounts do not include corporate expenses and purchase accounting amortization; totals may not add due to rounding (1) 2021 area shaded in light blue represents the revenue impact of the Lottery discrete benefits described on page 7; 2021-2025 CAGR calculated excluding the discrete items

9 25% 75% • Optimization of procurement and assembly processes • Supply chain and logistics simplification • Reduced complexity of product offer and geographic mix • Optimization of resources by specialty/geography • Pandemic-induced cost freeze • Optimization of back-office functions • Disciplined control of discretionary costs 30% 30% Structural Cost Reductions and Discipline Create a Leaner, More Efficient Enterprise 30% CapEx savings OPtiMa 1.0: Achieved over $200 million in savings in 2021 vs. 2019 Total Savings >$200M Margin Improvement Product Simplification P&L savings Operational Excellence 30% 30% 40% OPTIMIZE

10 33% 67% • Supply chain optimization (absorbing recent supply chain issues and shortages) • Realigning global real estate/facilities footprint • IT systems and infrastructure leveraged across portfolio • Interest cost savings through proactive capital structure optimization • Cost of debt lowered to 4.3% by the end of 2021 vs 5.3% in 2019 • Realignment of legal entity and tax structure to enhance accountability and accelerate capital investment decisions • Targeting low 30% effective tax rate compared to historical low to mid-40% level 33% 33% OPtiMa 2.0: Opportunities for Additional, Structural Profit Improvement 33% 33% 33% 33% OI benefit Over $150 million in incremental savings targeted by the end of 2023 vs. 2019 Total Savings >$150M Effective Tax Rate Interest Expense Below OI benefit Operational Excellence Near-Term Opportunities Medium-Term Opportunity OPTIMIZE

11 Capital Expenditures (~$1.6 Billion) 41% 59% By Category 45% 44% 11% Global Lottery Global Gaming ~$2.8B Designated for Strategic Investments(1) in Growth (2022-2025) (1) Strategic Investments include CapEx and R&D (inclusive of IP license fees), exclude license fee for Italy Lotto renewal in 2025 (2) Charts exclude corporate costs Capital Expenditures R&D Digital & Betting • Content development • Technological innovation • Intellectual property license fees • Digital growth • KPIs: Target margin by initiative, # of launches, game success ratio Research & Development (~$1.2 Billion) By Segment(2) INNOVATE • Lottery infrastructure • Gaming machine installed base • Technological innovation • KPIs: NPV, IRR, payback period

12 Lottery Investments Offer Compelling Returns • Project-specific NPV/IRR targets ensure prudent capital deployment • Resilient growth profile and responsible investment parameters drive double-digit returns well above weighted average cost of capital • Investments in technology and adjacent, emerging opportunities with instant ticket services and iLottery strengthen growth profile Lottery Project-specific KPIs: NPV, IRR, payback period INNOVATE Cost of Capital Risk Premium Operating Risk Country Risk Financial Risk Risk Adjusted ROI Target

13 Gaming Project-specific KPIs: Magnitude of Investment2021E 2025E • Investment prioritizing areas of highest revenue growth and profitability improvement • International and global core markets offer further opportunity for profit improvement • Strategic focus on multi-level progressives to drive improved ROI on leased games • Go-to-market R&D efficiencies reflect success of test bank approach Gaming R&D Investments Focused on Driving Efficiency and Profitable Growth Note: “Specialty/VLT” includes casino systems, CDS, class II, ETG, HHR, poker, VLT, and North America WLA; International ex. Core includes all LAC, EMEA, and APAC except Core Revenue P ro fi ta b il it y % INNOVATE Target margins, number of launches, and game success ratio

14 Robust Cash Flow is the Engine for Value Creation ~$2.4B Cumulative Cash Flow Generation 2022-2025 • Steadily increasing cash from operations, free cash flow pre-Italy Lotto renewal • Cash conversion (cash from operations/Adjusted EBITDA) improving to ~65% pre-Italy Lotto renewal • Multi-year period of reduced capital intensity – OPtiMa programs includes efficiency- driven, structural CapEx reductions – Invested capital fluctuates with Lottery contract lifecycles Note: All amounts presented reflect continuing operations (1) 2025 cash from operations includes partial license fee assumption for Italy Lotto renewal that is in line with previous tender (2) Non-GAAP measure; see disclaimer on page 2 for further details ~$4.0BCash from Operations(1) Free Cash Flow(2)

15 A Capital Allocation Framework for Maximizing Shareholder Value Dividends Reinstated quarterly cash dividend of $0.20 per common share; ~$170M/year Share Repurchases Implementing multi-year $300M program as a combination of structured and opportunistic buying Delevering Reduce debt to achieve net debt leverage(1) of 2.5x-3.5x over the investment cycle; value accrues to equity holders Total Shareholder Return Between $1.5 and $1.8 billion available for debt reduction and shareholder returns over next 4 years (1) Non-GAAP measure, see disclaimer on page 2 for further details

16 Bringing it all Together: A Balanced Approach to Investing in the Business and Providing Compelling Capital Returns Cash From Operations (1) 2022-2025 Legal entity and organizational realignment of Digital & Betting segment expected to be completed within 12 months to support evaluation of potential separate public listing of Digital & Betting business • Stronger cash flow and balance sheet provide flexibility for selective M&A in high-growth areas (1) Includes final tranche of payment associated with sale of the Italy B2C gaming business due December 2022; 2025 cash from operations includes partial license fee assumption for Italy Lotto renewal that is in line with previous tender Reducing Debt Share Repurchases Dividends to Shareholders Payments to Minorities, net Capital Expenditures • Balanced Approach to Investing Up to 60% of operating cash flow to maintain existing portfolio of business: • CapEx to fund our existing contracts, as well as growth opportunities • Required payments to minorities Up to a quarter of operating cash flow to shareholders: • Reinstated quarterly cash dividend of $0.20 per common share • Launching $300M multi-year share repurchase program Up to 20% of operating cash flow to strengthen balance sheet by continuing to pay down debt

17 19 232 232 232 46361 579 1,100 1,618 750 579 750 1,774 2021 2022 2023 2024 2025 2026 2027 2028 2029 Bank Debt Bonds Undrawn RCF Debt Maturities ($M)Net Debt(1) Strong Credit Profile with Flexible Balance Sheet, Ample Liquidity Targeted net debt leverage(1) of 2.5x-3.5x over the investment cycle Q3’21 liquidity of $2.2B; $435M in cash and $1.8B from undrawn revolving credit facilities Targeting lower part of net debt leverage(1) range in 2025E Sept. 30, 2021 2022E 2023E-2025E Net debt leverage(1) 3.8x 3.5x- 4.0x 2.5x-3.5x Note: $ billions, except where noted otherwise; figures reflect continuing operations (1) Non-GAAP measure, see disclaimer on page 2 for further details

18 Financial Targets Provide Runway to Compelling Value Creation 2021E 2022E 2025E Revenue ~$4.1B $4.1-$4.3B $4.6-$5.0B (+mid-single-digit CAGR) Operating Income ~22% Margin (Includes ~300 basis points of Lottery discrete benefits)(3) 20%-22% Margin 26%-29% Margin (+mid-teens CAGR) Cash from Operations $850-$900M $850-$1,000M ~$700M(2) (avg. ~$1,000M/year) CapEx <$300M ~$400M-$450M ~$400M (avg. ~$400M/year) Net Debt Leverage(1) <4.0x 3.5x-4.0x Targeting lower part of 2.5x-3.5x range Note: Business plan assumes constant FX (1) Non-GAAP measure, see disclaimer on page 2 for further details (2) 2025 Cash from operations includes partial license fee assumption for Italy Lotto renewal that is in line with previous tender (3) 2021 Lottery discrete benefits include gaming hall closures in Italy, plus LMA and elevated Jackpot activity in the U.S.

19 Impact of variances well-understood; financial plan reasonably protected High Confidence in Achievability of the Plan Illustrative Scenario Analysis (IGT PLC) • 10% headwind to 2025E upper range revenue results in 300+ bps of margin compression; proactive potential mitigants include: – Reprioritization of CapEx/R&D projects – SG&A/other cost reductions • Business model demonstrated resilience during the pandemic Illustrative Sensitivity Analysis (Lottery SSS) -$100M to -$50M -$50M to $0M $0M to +50M +$50M to +100M Total Revenue North America Same-Store Sales -5% -4% -3% -2% -1% 0% +1% +2% +3% +4% +5% It a ly S a m e -S to re S a le s -5% -4% -3% -2% -1% 0% Plan +1% +2% +3% +4% +5%

20 Key Messages 1 2 3 Resilience of portfolio and culture of operational excellence driving swift recovery above pre-pandemic levels Strategic focus on responsibly funding growth coupled with continuous cost discipline Robust cash flows poised to reduce leverage and strengthen credit profile Balanced capital allocation plan to drive accelerated profit growth and substantial shareholder returns 4 (1) At the mid-point of the 2025 target margin range (2) Non-GAAP measure, see disclaimer on page 2 for further details Mid-single-digit revenue CAGR 500+ basis points of operating margin expansion(1) ~$4.0B in cash from operations and ~$2.4B in free cash flow(2) (cumulative) 2022 – 2025 commitments:

Appendix

22 Reconciliations of Non-GAAP Measures For the year ended December 31, 2020 Business Global Global Digital & Segment Corporate Total Lottery Gaming Betting Total and Other IGT PLC Loss from continuing operations (875) Provision for income taxes 28 Interest expense, net 398 Foreign exchange loss, net 309 Other non-operating expense, net 33 Operating income (loss) 642 (212) 6 436 (544) (107) Goodwill impairment - - - - 296 296 Depreciation 201 138 14 354 1 355 Amortization - service revenue 210 - 0 210 - 210 Amortization - non-purchase accounting 30 7 0 38 3 41 Amortization - purchase accounting - - - - 170 170 Restructuring 5 32 2 39 6 45 Stock-based compensation (3) (4) (0) (7) 0 (7) Other 0 0 - 0 4 4 Adjusted EBITDA 1,086 (38) 22 1,070 (62) 1,008 Cash flows from operating activities - continuing operations 595 Capital expenditures (255) Free Cash Flow 340 $ in millions; all amounts reflect continuing operations unless otherwise noted (1) Includes amortization of upfront license fees (2) Primarily includes transaction-related costs

23 Reconciliations of Non-GAAP Measures For the year ended December 31, 2019 Business Global Global Digital & Segment Corporate Total Lottery Gaming Betting Total and Other IGT PLC Loss from continuing operations (3) Provision for income taxes 131 Interest expense, net 411 Foreign exchange gain, net (40) Other non-operating income, net (21) Operating income (loss) 697 222 (43) 877 (399) 478 Goodwill impairment - - - - 99 99 Depreciation 200 167 16 383 3 386 Amortization - service revenue 206 - 0 206 - 206 Amortization - non-purchase accounting 25 7 1 33 3 36 Amortization - purchase accounting - - - - 192 192 Restructuring 2 2 16 21 4 25 Stock-based compensation 6 1 1 13 13 27 Other 1 - - 1 5 6 Adjusted EBITDA 1,136 404 (8) 1,533 (79) 1,454 Cash flows from operating activities - continuing operations 907 Capital expenditures (377) Free Cash Flow 530 $ in millions; all amounts reflect continuing operations unless otherwise noted (1) Includes amortization of upfront license fees (2) Primarily includes transaction-related costs