Investor update Q4 2014

Olympic Entertainment Group

2

Olympic in Snapshot

Total Revenues (m€) EBITDA (m€)

• First casino opened in Estonia in 1993

• 98 land-based casinos in 7 countries

• Online casino services since 2010

• # 1 operator in Baltic countries

• 3,481 slot machines, 195 gaming tables

• Shares listed in Tallinn and Warsaw Stock Exchanges

• Winner of Best Land-based Casino Operator award for 2013 by Totally Gaming Awards

Total Revenue Mix by Segments

2011 2012 2013 20140

20406080

100120140160180

127.3 135.9 145.8 150.7

22%

32%15%

15%

11%1%

4%

EstoniaLatviaLithuaniaPolandSlovakiaBelarusItaly

2014150.7 m€

2011 2012 2013 201405

101520253035404550

32.038.7 39.5

36.2

3

• 6 casinos, 227 slot machines

Key Markets

• 18 casinos, 737 slot machines,19 gaming tables

Estonia

• 37 casinos, 1,059 slot machines,18 gaming tables

Latvia

• 16 casinos, 516 slot machines,64 gaming tables

Lithuania

Belarus

• 2 casinos, 210 slot machines,41 gaming tables

Poland

• 7 casinos, 308 slot machines,53 gaming tables

Slovakia

Italy• 12 casinos, 424 slot machines

4

2014 Revenues up 3.3% y-o-yRevenue Bridge by Segments (‘000€)

• Latvia generated the largest portion of Group’s revenues largely due to the acquisition of existing casino chain with 17 locations on 28 June 2013

• Active operations in Italy since November 2012

• Polish revenues suffering from non-renewable slot licenses that could not be prolonged

Quarterly Sales Revenues (m€) Gaming Revenue Mix by Segments

100,000

120,000

140,000

160,000 +145,819+8,519 +769 +3,243 +150,660

-2,343-4,772 -144 -431

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q42012 2013 2014

05

1015202530354045

22%

31%15%

16%

10%1%

5%

EstoniaLatviaLithuaniaPolandSlovakiaBelarusItaly

2014141.1 m€

5

2014 EBIT down 18.8% y-o-y

Operating Profit Mix by Segments

EBIT Bridge by Segments (‘000€)

Quarterly EBIT (m€)

• Polish operations suffering from one slot hall closure

• Slovak operations suffering from heavy competition in slot halls market

• Estonian results are also influenced by the termination of hotel operations in Tallinnin Q4 2013

• Belarusian operations influenced by Ukraine conflictEBIT 2013

Estonia Latvia Lithuania Poland Slovakia Belarus Italy EBIT 2014

15,000

25,000

35,000

+31,783

+2,513

+25,795

-1,276-735

-2,417-1,736

-1,863-474

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q42012 2013 2014

0

2

4

6

8

10

12

22%

60%

10%7%

EstoniaLatviaLithuaniaPolandSlovakiaBelarusItaly

201425.8 m€

6

Olympic Casino in Malta• About 2,700 m2

• 258 slots• 17 gaming tables• 10 open poker tables• Opening planned to autumn 2015

• Extension of two additional floors of luxurious 6 star suites• New 100 room Holiday Inn Express hotel• Investment in a 3,600 m2 conference and incentive venue• Total of 652 rooms• OEG will operate in Malta under a management agreement

7

Investment Highlights

Strong management

team

Leading position in Baltic states

Growth

Strong financials

• Market leader in Estonia and Lithuania, second largest in Latvia • Strong brand awareness in the Baltic market

• Development of the first casino hotel in Tallinn, Estonia. The 202-room hotel operated by Hilton will open in the beginning of 2016

• Actively searching for expansion projects in new markets, primarily in EU countries

• Cash generating operations• Strong balance sheet is the basis for further expansion

• Proven track record of managing international casino operations in number of countries

• Experienced management to navigate market fluctuations

8

Hilton Tallinn Park Project in Estonia• 202-room upscale hotel to be operated by Hilton • Total cost of ca 40 million euros • Opening planned to beginning 2016 • Casino at 1,600 m2 will be holding separate areas for slot machines,

gaming tables and club poker, special area for VIP players, spacious casino bar with stage area and comfortable lounge.

• Hotel includes:• 202 rooms• 26 suites• Restaurant seating 176• SPA with pool, fitness centre and saunas• Conference rooms seating 800

9

Upgraded Online Casino Services

• In 2010, Olympic Casino Eesti AS, OEG subsidiary, received the first Estonian online gaming license

• In 2013, Olympic Casino Latvia SIA, OEG subsidiary, received the second Latvian online gaming license

EU Licenses

• In 2013, OEG started offering sports betting and launched OlyBet, a new brand for sports betting, online casino games and pokerNew Brand

• Strong presence in Estonia and Latvia being #2 operator of both online gaming marketsMarket’s #2

10

Appendixes

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Company History

1993 Company founded by currentChairman of the Board Armin Karu

Opening numerous casinos in Estonia

1997 Opening of flagship Reval Park Hotel & Casino

2001 First casino opened in Lithuania

2002 First casino opened in Latvia

2004 First casino opened in Ukraine

2005 First casino opened in Belarus

2006 Listing on Tallinn Stock Exchange

2007 First casino opened in Poland

2007 Listing on Warsaw Stock Exchange

2007 First casino opened in Romania

2008 First casino opened in Slovakia

2009 Exiting Ukrainian market

2010 Entering online casino gaming market

2011 Exiting Romanian market

2011 Recovery in all countries

2012 Entering Italian market

2013 Expansion in Latvian market

2014 Start of construction of new upscale hotel Hilton Tallinn Park

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Company Vision and Mission

VisionOur vision is to be a global casino and resort operator, best known for our excellent service and creative design.

MissionTo give our guests a customer orientated, secure and

safe environment with the finest design and craftsmanship, unparalleled in the industry and supported by the excellence of our name and reputation.

13

Key PeopleArmin Karu, Chairman of the Board

Founded company 1993Owns directly (and by controlled companies) 46% of the shares

Madis Jääger, CEOJoined OEG in 2010 as CFO; since 2012 as CEOPrevious work experience as an audit engagement leader in PricewaterhouseCoopers (joined PwC in 2001)

Meelis Pielberg, COOJoined OEG in 1996; since 2012 as COOCountry Manager in Estonia 2009-2011

Aigar Hain, Country Manager in Estonia Jozef Skuben, Country Manager in Slovakia

Gints Pakarklis, Country Manager in LatviaAlessio Liverani, Country Manager in Italy

Saulius Petravičius, Country Manager in Lithuania and Belarus Veiko Krünberg, Head of Online Operations

Cezary Gizka, Country Manager in Poland

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Business Model

HOURS PLAYEDClient playing slot on

average 900 games per hour = coin-in of EUR 900

AVERAGE BETAverage bet of € 1 per

game

HOUSE EDGEAverage house edge of 5% for € 1 bet results € 45 per

hour

G ROSS   GAMING   REVENUE(GGR )   FOR  SLOT

   =    A VERAGEBET

   ×    H OURSPLAYED

×    H OUSEEDGE

G ROSS   GAMING   REVENUE(GGR )   FOR   TABLES

   = A VERAGEBET

  × H OURSPLAYED

   ×    HANDSPER  HOUR

×    H OUSEEDGE

AVERAGE BETAverage bet of € 10 per

game

HOURS PLAYEDClient playing Blackjack on average 60 games per hour

= turnover of EUR 600

HANDS PER HOURWith 7 players on the table dealer plays on average 60

games per player

HOUSE EDGEAverage house edge for

reasonable player of 1% for€ 10 bet results € 6 per

hour per player

15

Consolidated Income Statement‘000 € Q4 2014 Q4 2013 Change

y-o-y 2014 2013 Changey-o-y

Income from gaming transactions 37,600 37,285 0.8% 141,077 135,921 3.8%Other revenue and income 2,678 2,647 1.2% 9,583 9,898 -3.2%Total revenue and income 40,278 39,932 0.9% 150,660 145,819 3.3%Gaming taxes 6,998 7,502 -6.7% 28,171 28,937 -2.6%Lease and rent 4,150 3,177 30.6% 15,154 12,453 21.7%Staff costs 10,440 9,875 5.7% 38,892 35,878 8.4%Depreciation, amortisation and impairment 4,076 1,781 128,9% 10,356 7,764 33.4%Other costs 9,597 8,480 13.2% 32,292 29,004 11.3%Operating profit 5,017 9,117 -45.0% 25,795 31,783 -18.8%Total finance income and costs 29 36 -19.4% 60 -536 -111.2%Income tax expense 532 1,444 -63.2% 3,426 4,323 -20.7%Net profit for the period (equity holders of the parent company) 4,053 7,485 -45.9% 21,381 25,190 -15.1%

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Consolidated Cash Flow‘000 € 2014 2013 Change

y-o-yNet cash flows from operating activities 32,492 33,224 -2.2%Net cash flows from investing activities -22,873 -6,736 239.6%

Incl. purchase of fixed assets -18,716 -12,582 48.8%Incl. acquisition of financial investments -112 -1,379 -91.9%Incl. proceeds from sale of financial investments 0 11,150 -100.0%

Net cash flows from financing activities -14,118 -17,872 -21.0%Net cash flows -4,499 8,616 -152.2%Cash and cash equivalents at the end of the period 40,117 44,582 -10.0%

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Consolidated Balance Sheet‘000 € 31.12.2014 31.12.2013 Change

y-o-yCash and cash equivalents 40,117 44,582 -10.0%Other current assets 7,046 5,390 30.7%

Total current assets 47,163 49,972 -5.6%Total non-current assets 79,068 68,305 15.8%Total assets 126,231 118,277 6.7%

Total current liabilities 15,539 15,691 -1.0%Total non-current liabilities 1,488 615 142.0%Total liabilities 17,027 16,306 4.4%

Total equity of the parent 103,865 97,555 6.5%Non-controlling interest 5,339 4,416 20.9%Total equity 109,204 101,971 7.1%

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Regulatory Environment and Taxes

Estonia

Latvia

Lithuania

Belarus

Poland

Slovakia

Italy

TaxesRegulatory environmentUnit based taxation remains for tables and changes for slots to revenue-based and fixed combination taxation in 2015 (slots were EUR 447 per month per slot and will beEUR 300 + 10% from GGR. Online regulation established.No major regulatory changes expected in near future.Online regulation established.

Unit based taxation. Effective revenue-based tax calculated for 2014 is 15%.

No major regulatory changes expected in near future, except for possible online regulation.

Unit based taxation. Effective revenue-based tax calculated for 2014 is 12%.

No extension of street machine licenses and slot hall licenses. Limited number of casino licenses based on the population. Online gaming is prohibited.

Revenue based taxation of 50% from GGR.

Revenue-based tax 29% for casino slots will change to yearly unit based tax of EUR 5,000.

Revenue based taxation of 29% from GGR.

No major regulatory changes expected in near future. Unit based taxation. Effective revenue-based tax calculated for 2014 is 24%.

Unit based taxation. Effective revenue-based tax calculated for 2014 is 10%.

No significant changes expected. Effective revenue-based tax calculated for 2014 is 54%.

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