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                  • The betting 365 Group uses alternative performance measures in its regulatory and mandatory publications that may represent so called non-GAAP-measures. These indicators are neither defined by US-GAAP nor by IFRS.

                    Within the internal control system of betting 365 non-GAAP-measures are used as key performance indicators.

                          The use of non-GAAP-measures for evaluating assets, financial and earnings position of betting 365 is not recommended on an isolated basis or as an alternative to the key performance indicators provided within the consolidated financial statements prepared in accordance with US-GAAP and IFRS.

                        • The non-GAAP-measures used are listed and explained below:

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                                            EBIT does include depreciation and write-ups on property, plant and equipment.

                                            EBIT is calculated by subtracting cost of sales, selling, general and administrative expenses and research and development expenses from sales.

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                                                  EBIT margin is calculated as the ratio of EBIT to sales.

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                                                    EBITDA is calculated from EBIT by adding depreciations recognized in income and deducting write-ups recognized in income, both, on intangible assets as well as property, plant and equipment.

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                                                              EBITDA margin is calculated as the ratio of EBITDA to sales.

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                                                                  Financial key figure that shows the net balance of incoming and outgoing payments during a reporting period.

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                                                                  Operating cash flow is a financial measure showing cash inflows from operating activities during a period. Operating cash flow is calculated by subtracting non-cash income and adding non-cash expenses to net income.

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                                                                    Cash flow from investing activities is a financial measure opposing payments for the acquisition or purchase of property, plant and equipment and investments versus proceeds from the sale of property, plant and equipment and investments.

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                                                                      Cash flow from financing activities is a financial measure showing how the investments of the reporting period were financed.

                                                                      Cash flow from financing activities is calculated from additions to equity plus proceeds from the exercise of stock options less dividends paid plus proceeds from debt increase (loans, bonds, senior notes, etc.) less repayments of debt plus the change in noncontrolling interest plus proceeds from the hedge of exchange rate effects due to corporate financing.

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                                                                          betting 365 uses the cash flow before acquisitions and dividends as the financial measure for free cash flow. Cash flow before acquisitions and dividends is calculated by operating cash flow less investments (net). Net investments are calculated by payments for the purchase of property, plant and equipment less proceeds from the sale of property, plant and equipment.

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                                                                                  Net debt/EBITDA is a financial measure reflecting the ability of betting 365 to fulfill its payment obligations. Net debt and EBITDA are calculated at LTM (last twelve month) average exchange rates respectively.

                                                                                  Calculation of net debt:
                                                                                  Short-term debt
                                                                                  + Short-term debt from related parties
                                                                                  + Current portion of long-term debt and capital lease obligations
                                                                                  + Current portion of Senior Notes
                                                                                  + Long-term debt and capital lease obligations, less current portion
                                                                                  + Senior Notes, less current portion
                                                                                  + Convertible bonds
                                                                                  = Debt
                                                                                  - less cash and cash equivalents
                                                                                  = Net debt

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                                                                                        Indicates the average number of days it takes for a receivable to be paid.

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                                                                                            Growth that is generated by a company’s existing businesses and not by acquisitions, divestitures, or foreign exchange impact.

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                                                                                                    Constant currencies for income and expenses are calculated using prior year average rates; constant currencies for assets and liabilities are calculated using the mid-closing rate on the date of the respective statement of financial position.

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                                                                                                      Measure of a corporation’s profitability revealing how much profit a company generates
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                                                                                                            Calculated by: (EBIT - taxes) / Invested capital

                                                                                                            Invested capital = total assets + amortization of goodwill (accumulated) - deferred tax assets - cash and cash equivalents - trade accounts payable - accruals (without pension accruals) - other liabilities not bearing interest

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                                                                                                                    1. Reconciliation of average invested capital and ROIC
                                                                                                                       

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                                                                                                                      1. <h5 id="8jgry87y" style="display:none !important"></h5>
                                                                                                                      2. € in millions, except for ROIC  31.12.2020 31.12.2019
                                                                                                                        Total assets  66,646  67,006
                                                                                                                        Plus: Cumulative goodwill amortization 690 539
                                                                                                                        Minus: Cash and cash equivalents - 1,837 - 1,654
                                                                                                                        Minus: Loans to related parties - 62 - 61
                                                                                                                        Minus: Deferred tax assets -812 -839
                                                                                                                        Minus: Accounts payable - 1,816 - 1,905
                                                                                                                        Minus: Accounts payable to related parties - 67 - 46
                                                                                                                        Minus: Provisions and other current liabilities1 - 8,649 - 7,079
                                                                                                                        Minus: Income tax payable - 504 - 474
                                                                                                                        Invested Capital 53,589 55,487
                                                                                                                        Average invested capital as of December 31, 2020 / 20192 54,648 53,846
                                                                                                                        Operating income3,4 4,614 4,692
                                                                                                                        Income tax expense  - 1,065  - 1,092
                                                                                                                        NOPAT3,4  3,549 3,600
                                                                                                                        ROIC in %  6.5 %  6.7 %


                                                                                                                        1 Includes non-current provisions and payments outstanding for acquisition; does not include pension liabilities and noncontrolling interest subject to put provisions.
                                                                                                                        2 Includes adjustments for acquisitions in the respective reporting period with a purchase price above a certain level
                                                                                                                        (2020: € 220 million; 2019: € 2,029 million).
                                                                                                                        3 Includes adjustments for acquisitions in the respective reporting period with a purchase price above a certain level
                                                                                                                        (2020: € 2 million; 2019: € 4 million).

                                                                                                                        4 Before special items

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                                                                                                                        1. live-blackjack

                                                                                                                          Calculated as the ratio of EBIT to operating assets (average).

                                                                                                                          Operating assets = total assets - deferred tax assets - trade accounts payable - cash held in trust - payments received on account - approved subsidies


                                                                                                                              Reconciliation of average operating assets and ROOA
                                                                                                                               

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                                                                                                                                € in millions, except for ROOA 31.12.2020 31.12.2019
                                                                                                                                Total assets 66,646 67,006
                                                                                                                                Minus: Contract liabilities - 962 - 92
                                                                                                                                Minus: Payments received on account 0 0
                                                                                                                                Minus: Cash held in trust - 121 - 111
                                                                                                                                Minus: Loans to related parties - 62 - 61
                                                                                                                                Minus: Deferred tax assets  - 812  - 839
                                                                                                                                Minus: Accounts payable - 1,816 - 1,905
                                                                                                                                Minus: Accounts payable to related parties - 67 - 46
                                                                                                                                Minus: Approved subsidies due to Hospital Funding Act
                                                                                                                                („Krankenhausfinanzierungsgesetz“, KHG)
                                                                                                                                - 82 - 112
                                                                                                                                Operating assets 62,724 63,840
                                                                                                                                Average operating assets as of December 31, 2020 / 20191 62,976 61,841
                                                                                                                                Operating income2,3 4,614 4,692
                                                                                                                                ROOA in %  7.3 % 7.6 %


                                                                                                                                1 Includes adjustments for acquisitions in the respective reporting period with a purchase price above a certain level
                                                                                                                                (2020: - € 612 million; 2019: € 424 million).

                                                                                                                                2 Includes adjustments for acquisitions in the respective reporting period with a purchase price above a certain level
                                                                                                                                (2020: € 2 million; 2019: € 4 million).

                                                                                                                                3 Before special items

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                                                                                                                                    1. kabaddi-com365

                                                                                                                                      Indicates the average number of days between receiving goods as inventory and the sale of the finished product.

                                                                                                                                      Calculated by: (Inventories / Costs of goods sold) x 365 days

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                                                                                                                                            • big-dollar-casino-login

                                                                                                                                              In order to measure the operating performance extending over several periods, key performance measures are adjusted by special items, where applicable. Adjusted measures are labelled with “before special items”. A reconciliation table is available within the respective quarterly or annual report and presents the composition of special items.

                                                                                                                                            • teen-patti-tips

                                                                                                                                              Current assets (including deferred assets) - accruals - trade accounts payable - other liabilities - deferred charges

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