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's activity report 2022

OB Holding 1 OÜ ("Company") is the parent company in the Olybet Group ("Group") and together with its subsidiaries, the Company is a leading provider of remote gambling services in the Baltic States. The Group's digital brand Olybet operates in Estonia, Latvia and Lithuania.

In addition to this, the Group operates casino operations in Lithuania.

The Group was established in May 2020, when a cash contribution of 1,000 thousand euros was made to the share capital and a non-cash contribution of 17,395 thousand euros to the voluntary reserve capital, which consists of the shares of the subsidiaries belonging to the Group and

The Group's remote gambling services business in Estonia. The contributed assets consist of businesses previously owned and operated by Olympic Entertainment Group AS and its subsidiaries, specifically remote gambling services businesses in the Baltics and terrestrial casino businesses in Lithuania.

In connection with the extension of the bond of Odyssey Europe Holdco S.á r.l. ("Odyssey Group") and the related reorganization, on April 26,

2022, Olybet Lux Holding S.á r.l., which owns 100% of OB Holding 1 OÜ shares, moved into the ownership of the Odyssey Group.

Main indicators for 2022: • As of December 31, 2022, the Company employed 86 employees in Estonia.

• Gambling revenue before gambling tax amounted to 45,936 thousand euros.

• Total gambling and other revenues amounted to 43,196 thousand euros.

• Operating profit amounted to 14,519 thousand euros.

• Investments in tangible and intangible fixed assets amounted to 170 thousand euros.

• In March 2022, the Company acquired a 100% stake in Modern Games d.o.o. ("Modern Games"), which is a licensed provider of gambling services in Croatia.

2022 2021

Gambling revenues in thousand euros 42,915 30,918

Operating profit in thousand euros 14,519 9,793

Net profit in thousand euros 24,792 14,588

Operating profitability % 33.8 31.7

Net profitability % 57.8 47.2

Assets in thousand euros 41,876 31,223

Equity in thousand euros 33,264 24,273

ROE % 86.2 60.1

ROA % 67.8 46.7

Short-term debt coverage ratio times 1.9 1.8

Ratio formulas: • Operating profit = profit before financial and income tax expenses • Net profit = net profit for the reporting period • Operating profitability = operating profit / gambling revenue • Net profitability = net profit / gambling revenue • ROE = net profit / average total equity • ROA = net profit / average total assets • Short-term debt coverage ratio = current assets / short-term liabilities