# EDGAR Filing Document

**Accession Number:** 0001619762
**File Stem:** 0001628280-26-010863
**Filing Date:** 2026-2
**Character Count:** 96404
**Document Hash:** 73d9e4be9489c1dc68eca96ce5d7798b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001628280-26-010863.hdr.sgml**: 20260224

**ACCESSION NUMBER**: 0001628280-26-010863

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 30

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260224

**DATE AS OF CHANGE**: 20260224

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Brightstar Lottery PLC
- **CENTRAL INDEX KEY:** 0001619762
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-MISCELLANEOUS AMUSEMENT & RECREATION [7990]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 981193882
- **STATE OF INCORPORATION:** X0
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-36906
- **FILM NUMBER:** 26667397

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 2 AND 3 ELDON STREET
- **STREET 2:** FIFTH FLOOR
- **CITY:** LONDON
- **PROVINCE COUNTRY:** X0
- **ZIP:** EC2M 7LS
- **BUSINESS PHONE:** 44 (0) 20 7535 3200

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 2 AND 3 ELDON STREET
- **STREET 2:** FIFTH FLOOR
- **CITY:** LONDON
- **PROVINCE COUNTRY:** X0
- **ZIP:** EC2M 7LS

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** International Game Technology PLC
- **DATE OF NAME CHANGE:** 20150227

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Georgia Worldwide PLC
- **DATE OF NAME CHANGE:** 20141002

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Georgia Worldwide, PLC
- **DATE OF NAME CHANGE:** 20140917

**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 UNDER THE**

**SECURITIES EXCHANGE ACT OF 1934**

**For the month of February 2026**

**Commission File Number 001-36906**

**BRIGHTSTAR LOTTERY PLC**

(Translation of registrant's name into English)

**2 and 3 Eldon Street, Fifth Floor**

**London EC2M 7LS**

**United Kingdom**

(Address of principal executive offices)

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| | | | |
|:---|:---|:---|:---|
| Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: | Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: | Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: | 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 | ☐ |

---

------

**Fourth Quarter and Full Year 2025 Results of Brightstar Lottery PLC** 

On February 24, 2026, Brightstar Lottery PLC (NYSE: BRSL) (the "Company") reported results for the fourth quarter and full year ended December 31, 2025.

The Company also announced that the Board of Directors (the "Board") declared a quarterly cash dividend of $0.23 per share on its ordinary shares, payable on March 24, 2026, to holders of record as of the close of business on March 10, 2026.

**Board and Governance Update**

<u>Appointment of Independent Non-Executive Director</u>

The Company announces that the Board has appointed Mariangela Zappia as an independent non-executive director, effective February 19, 2026.

Ms. Zappia is a career diplomat with more than 40 years of experience in international diplomacy and public service. She has been the first woman in Italy to serve as Ambassador to NATO, Ambassador to the United Nations in New York, and Ambassador to the United States of America. She has also been the first woman to serve as Diplomatic Counsellor to the Prime Minister of Italy and as G7/G20 Sherpa. Throughout her career, she has been centrally involved in high-level decision-making on global political and economic issues of strategic significance to national security, and she brings extensive leadership and managerial experience overseeing complex organizations.

Upon her appointment, Ms. Zappia was also named to the Nominating and Corporate Governance Committee of the Board.

In accordance with applicable requirements, there are no arrangements or understandings between Ms. Zappia and any other person pursuant to which she was selected as a director, and no related-party transactions involving Ms. Zappia that require disclosure under applicable rules.

<u>Director Not Standing for Re-Election</u>

The Company further announces that Max Chiara, the Company's Chief Financial Officer and a member of its Board, has informed the Board that he will not stand for reelection at the Company's next Annual General Meeting of shareholders (the "AGM"). Mr. Chiara will continue to serve as a director until the completion of his current term at the AGM and as Chief Financial Officer following the AGM.

Mr. Chiara's decision is not the result of any disagreement with the Company on any matter relating to its operations, financial reporting, policies, or practices. His decision reflects the Company's continued focus on enhancing the independence of its Board and aligning its Board composition with prevailing corporate governance standards and best practices, including increasing the proportion of independent non-executive directors.

A copy of the news release relating to the above matters is set forth in Exhibit 99.1, which is being furnished herewith. In addition, a slide presentation relating to the results is set forth in Exhibit 99.2, which is being furnished herewith.

---

| | |
|:---|:---|
| **Exhibit**<br>**Number** | **Description** |
| <u>[99.1](brightstarlotteryq425earni.htm)</u> | <u>[News Release "Brightstar Lottery PLC Reports Fourth Quarter and Full Year 2025 Results](brightstarlotteryq425earni.htm)[," dated February 24, 2026.](brightstarlotteryq425earni.htm)</u> |
| <u>[99.2](q425earningsslidedeck-fi.htm)</u> | <u>[Presentation "Brightstar Lottery PLC 2025](q425earningsslidedeck-fi.htm)[: Q4](q425earningsslidedeck-fi.htm)[and Full-Year](q425earningsslidedeck-fi.htm)[Ear](q425earningsslidedeck-fi.htm)[nings](q425earningsslidedeck-fi.htm)[Report](q425earningsslidedeck-fi.htm)[,](q425earningsslidedeck-fi.htm)[period ended December 31, 2025," dated February 24, 2026.](q425earningsslidedeck-fi.htm)</u> |

---

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**EXHIBIT INDEX**

---

| | |
|:---|:---|
| **Exhibit**<br>**Number** | **Description** |
| <u>[99.1](brightstarlotteryq425earni.htm)</u> | <u>[News Release "Brightstar Lottery PLC Reports Fourth Quarter and Full Year 2025 Results](brightstarlotteryq425earni.htm)[," dated February 24, 2026.](brightstarlotteryq425earni.htm)</u> |
| <u>[99.2](q425earningsslidedeck-fi.htm)</u> | <u>[P](q425earningsslidedeck-fi.htm)[resentation "Brightstar Lottery PLC 2025: Q4 and Full-Year Earnings Report, period ended December 31, 2025," dated February 24, 2026.](q425earningsslidedeck-fi.htm)</u> |

---

------

**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: February 24, 2026 | **BRIGHTSTAR LOTTERY PLC** | **BRIGHTSTAR LOTTERY PLC** |
|  | By: | /s/ Pierfrancesco Boccia |
|  |  | Pierfrancesco Boccia |
|  |  | Corporate Secretary |

---

## Exhibit 99.1

![image2.jpg](image2.jpg)

**NEWS RELEASE**

**BRIGHTSTAR LOTTERY PLC REPORTS**

**FOURTH QUARTER AND FULL YEAR 2025 RESULTS** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**• Better-than-expected Q4'25 revenue and profit growth driven by a 3.5% increase in same-store sales, led by U.S. Multi-state Jackpot activity and iLottery**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**• Significant improvement in net debt; net debt leverage of 2.4x at end of FY'25**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**• Returned over $1 billion to shareholders in FY'25 through dividends and share repurchases**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Board of Directors declared a regular quarterly cash dividend of $0.23, up $0.01 from prior quarter and a 15% increase from the historical run rate**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**• FY'26 outlook includes accelerated organic revenue growth** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Mariangela Zappia appointed as an independent, non-executive director**

**LONDON** – February 24, 2026 – Brightstar Lottery PLC (NYSE:BRSL) ("Brightstar") today reported financial results for the fourth quarter and full year ended December 31, 2025. Today, at 8:00 a.m. EST, management will host a conference call and webcast to present the results; access details are provided below.

"Better-than-expected fourth quarter revenue and profit growth reflect the value of our diverse portfolio across geographies and games," said **Vince Sadusky, CEO of Brightstar**. "2025 was a transformational year for us. We executed major strategic priorities, including selling IGT Gaming and increasing capital returns to shareholders. 2026 is an important year of investment in several high-ROI growth initiatives such as Italy B2C digital expansion and launching a new lottery in São Paulo, which we expect to drive accelerated sales and profit growth through 2028."

"Our balanced approach to capital allocation was on display in 2025 with over $2 billion in debt reduction, bringing leverage to historic lows; over $1 billion returned to shareholders; and investments in key initiatives," said **Max Chiara, CFO of Brightstar**. "We enter 2026 well-positioned to fund contractual obligations that put us on the path to achieving our 2028 financial targets."

------

**<u>Overview of Fourth Quarter and Full Year 2025 Results</u>**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | Quarter Ended | Quarter Ended | Y/Y Change | Constant Currency Change | Year Ended | Year Ended | Y/Y Change | Constant Currency Change |
| **All amounts from continuing operations** | December 31, | December 31, | Y/Y Change | Constant Currency Change | December 31, | December 31, | Y/Y Change | Constant Currency Change |
|  | 2025 | 2024 | Y/Y Change | Constant Currency Change | 2025 | 2024 | Y/Y Change | Constant Currency Change |
| **($ in millions, except per share data)** |  |  |  |  |  |  |  |  |
| **<u>GAAP Financials:</u>** |  |  |  |  |  |  |  |  |
| **Revenue** | **668** | **651** | **3%** | **(2)%** | **2511** | **2512** | **—%** | **(2)%** |
| **Income from continuing operations** | **92** | **116** | **(21)%** |  | **135** | **271** | **(50)%** |  |
| *Income from continuing operations margin* | *13.7%* | *17.9%* |  |  | *5.4%* | *10.8%* |  |  |
| **Earnings per share — diluted** | **$0.32** | **$0.40** | **(21)%** |  | **$(0.01)** | **$0.57** | **NA** |  |
| **Net cash (used in) provided by operating activities** | **(222)** | **174** | **NA** |  | **(193)** | **709** | **NA** |  |
| *Includes $347M and $926M in cash outflows related to Italy Lotto upfront license fee in Q4'25 and FY'25 periods, respectively* |  |  |  |  |  |  |  |  |
| **Cash and cash equivalents** | **1446** | **584** | **148%** |  | **1446** | **584** | **148%** |  |
| **<u>Non-GAAP Financial Measures:</u>** |  |  |  |  |  |  |  |  |
| **Adjusted EBITDA** | **304** | **290** | **5%** | **(2)%** | **1121** | **1170** | **(4)%** | **(7)%** |
| *Adjusted EBITDA margin* | *45.5%* | *44.5%* |  |  | *44.7%* | *46.6%* |  |  |
| **Adjusted earnings per share — diluted** | **$0.36** | **$0.22** | **59%** |  | **$0.91** | **$0.67** | **36%** |  |
| **Free cash flow** | **(298)** | **129** | **NA** |  | **(509)** | **560** | **NA** |  |
| *Includes $347M and $926M in cash outflows related to Italy Lotto upfront license fee in Q4'25 and FY'25 periods, respectively* |  |  |  |  |  |  |  |  |
| **Net debt** | **2723** | **4777** | **(43)%** |  | **2723** | **4777** | **(43)%** |  |

---

Note: Reconciliations of non-GAAP financial measures to the most directly comparable GAAP financial measures are provided at the end of this news release

**<u>Select 2025 & Recent Key Highlights</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Successful completion of IGT Gaming sale for approximately $4.1 billion of net cash proceeds on July 1, 2025

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Secured several meaningful contract wins and extensions including a nine-year Lotto operator license in Italy; an eight-year facilities management contract in Missouri; an eight-year facilities management contract in Wisconsin; a 15-year license in São Paulo, Brazil in partnership with Scientific Games; a 19-year contract in Western Australia; a two-year extension in Texas; and several multi-year instant ticket printing contract extensions

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Expanded OPtiMa cost reduction program to $80 million

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Returned over $1 billion to shareholders in FY'25

**<u>Fourth Quarter 2025 Financial Highlights</u>**

Revenue was $668 million, up 3% as reported and down 2% at constant currency, compared to $651 million in the prior-year period, primarily resulting from:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 3.5% same-store sales growth led by U.S. Multi-state jackpot activity and iLottery

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Impact of U.K. transition and increased Italy Lotto service revenue amortization

------

Income from continuing operations of $92 million, versus $116 million in the prior-year period, primarily driven by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Reduced provision for income taxes, mostly from lower pre-tax income

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Increased Italy Lotto service revenue amortization and lower foreign exchange gain, primarily reflecting the non-cash impact of fluctuations in the EUR/USD exchange rate on debt

Adjusted EBITDA of $304 million, up 5% as reported and down 2% at constant currency, versus $290 million in the prior year, mainly due to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• High profit flow through from elevated U.S. Multi-state Jackpot activity and OPtiMa cost savings

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Impact of U.K. transition and increased investments in the business

Diluted earnings per share of $0.32, versus $0.40 in the prior year, primarily driven by the after-tax impact of higher foreign currency gains in the prior year and partially offset by a lower provision for income taxes; Adjusted diluted earnings per share of $0.36, versus $0.22 in the prior year.

**<u>Full Year 2025 Financial Highlights</u>**

Revenue was $2.5 billion, in line with the prior-year period as reported and down 2% at constant currency, primarily due to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 1.7% increase in same-store sales, with growth across geographies and game types

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Reduced LMA incentive; increased Italy Lotto service revenue amortization; and impact of U.K. transition

Income from continuing operations was $135 million, compared to $271 million in the prior-year period, primarily driven by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Reduced provision for income taxes, mostly from lower pre-tax income

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Foreign exchange loss versus foreign exchange gain in the prior-year period, principally related to the impact of fluctuations in the EUR/USD exchange rate on debt and increased Italy Lotto service revenue amortization

Adjusted EBITDA was $1.12 billion, down 4% as reported and 7% at constant currency, compared to $1.17 billion in the prior-year period, primarily resulting from:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Reduced LMA incentive; lower product sales, mainly due to the timing in terminal and software services deliveries; impact of U.K. transition; and increased investments in the business

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Growth in wager-based revenue; OPtiMa cost savings

Diluted loss per share was $0.01, versus diluted earnings per share of $0.57 in the prior year, primarily driven by the after-tax impact of foreign currency losses versus foreign currency gains in the prior year, partially offset by a lower provision for income taxes; Adjusted diluted earnings per share of $0.91 compared to $0.67 in the prior year.

Consolidated cash used in operating activities of $193 million, versus consolidated cash from operations of $709 million in the prior-year period, primarily due to $926 million in cash outflows related to the Italy Lotto upfront license fee.

Net debt was $2.7 billion, versus $4.8 billion at December 31, 2024. The decrease was primarily driven by $2 billion in proceeds from the sale of IGT Gaming allocated to debt reduction. Net debt leverage improved to 2.4x from 4.1x in the prior year.

**<u>Cash and Liquidity Update</u>**

Total liquidity of $3.0 billion as of December 31, 2025, reflecting $1.4 billion in unrestricted cash and $1.6 billion in additional borrowing capacity.

**<u>Other Developments</u>**

------

The Company's Board of Directors (the "Board") declared a quarterly cash dividend of $0.23 per common share, representing a $0.01 per share increase, following a $0.02 per share increase in Q3'25 from the historical $0.20 per share level.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Record date of March 10, 2026

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Payment date of March 24, 2026

**<u>Board & Governance Update</u>**

The Board appointed Mariangela Zappia as an independent, non-executive director, effective on February 19, 2026. Ms. Zappia is a career diplomat with more than 40 years of experience at the highest levels of international diplomacy and public service.

Ms. Zappia was the first woman in Italy to hold the positions of Ambassador to NATO, to the United Nations in New York, and to the United States of America. She was also the first woman to serve as Diplomatic Counsellor to the Prime Minister of Italy and as G7/G20 Sherpa. In these capacities, she has been at the center of decision-making processes on global political and economic issues of the highest relevance to national security and international relations, and she brings extensive leadership and managerial experience in overseeing complex organizations and structures.

"We are delighted to welcome Mariangela to the Board as an independent, non-executive director," said Marco Sala, the Company's Executive Chair. "Her independence, global perspective, deep experience in navigating complex geopolitical and economic environments, and her proven leadership of large and multifaceted organizations will be highly valuable as we continue to execute our strategy."

The Company also announced that Max Chiara, Chief Financial Officer and a member of the Board since May 2020, has informed the Board that he will not stand for re-election at the Company's next Annual General Meeting of shareholders in May 2026. Mr. Chiara will continue to serve as Chief Financial Officer of the Company, where he has taken on additional responsibilities for strategy and mergers and acquisitions.

Marco Sala added, "On behalf of the Board, I would like to thank Max for his continued leadership as our Chief Financial Officer and for his valuable contributions as a director over the last six years. Max will remain fully engaged on executing our financial and strategic priorities as CFO, and this change to his Board role reflects our ongoing focus on strategy execution and evolving our corporate governance standards and best practices, including the independence and composition of our Board."

**<u>Introducing Full Year 2026 Expectations</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Revenue of $2.50 - $2.55 billion includes more than five percent organic growth; approximately $175 million in incremental Italy Lotto license fee amortization impacts reported growth

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Adjusted EBITDA of $1.16 - $1.19 billion; organic growth and OPtiMa savings more than offset approximately $50 million of investments in growth initiatives such as Italy B2C and iLottery expansion; R&D for technology products and services; and project costs associated with the extensive contract renewal cycle recently completed

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net cash used in operating activities of approximately $900 million includes €1.43 billion or approximately $1.68 billion related to final Italy Lotto license fee payment; $750 million in cash from operations excluding Italy Lotto license fee

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Capital expenditures of approximately $450 - $475 million reflects contractual obligations related to recent contract wins and extensions

**<u>Earnings Conference Call and Webcast</u>**

February 24, 2026, at 8:00 a.m. EST

To register to participate in the conference call, or to listen to the live audio webcast, please visit the "Events Calendar" on Brightstar's Investor Relations website at www.brightstarlottery.com. A replay will be available on the website following the live event.

------

**<u>Comparability of Results</u>**

All figures presented in this news release are prepared under U.S. GAAP, unless noted otherwise. Amounts reported in millions are computed based on amounts in thousands. As a result, the sum of the components may not equal the total amount reported in millions due to rounding. Certain columns and rows within tables may not add due to the use of rounded numbers. Percentages and earnings per share amounts presented are calculated from the underlying unrounded amounts.

**<u>About Brightstar Lottery PLC</u>**

Brightstar Lottery PLC (NYSE: BRSL) is global leader in lottery focused on innovation and forward-thinking strategies and solutions, building on our renowned expertise in delivering secure technology and producing reliable, comprehensive solutions for our customers. As a premier pure play global lottery company, our best-in-class lottery operations, retail and digital solutions, and award-winning lottery games enable our customers to achieve their goals, entertain players and distribute meaningful benefits to communities. Brightstar has a well-established local presence and is a trusted partner to governments and regulators around the world, creating value by adhering to the highest standards of service, integrity, and responsibility. Brightstar serves nearly 90 lottery customers and their players on six continents. It is the primary technology provider to 26 of the 46 lottery jurisdictions in the U.S. and eight of the world's 10 largest lotteries. Brightstar has approximately 6,000 employees. For more information, please visit www.brightstarlottery.com.

**<u>Cautionary Statement Regarding Forward-Looking Statements</u>**

This release contains forward-looking statements (including within the meaning of the U.S. Private Securities Litigation Reform Act of 1995) regarding the Brightstar Lottery PLC's (the "Company") future plans, strategies, expected growth, regulatory developments, anticipated new or renewed contracts, and future products, services, technologies, and operational initiatives. Forward-looking statements include, without limitation, expectations regarding future revenue, income from continuing operations, Adjusted EBITDA, cash flows (including free cash flow), capital expenditures, capital allocation plans, dividend levels, share repurchases, FY'26 financial outlook, organic growth expectations, and the Company's medium-term financial targets. These statements also include expectations relating to iLottery expansion, Italy B2C digital execution, U.S. regulatory momentum, international expansion opportunities, anticipated contributions from long-term contract awards, OPtiMa cost-savings and AI-related initiatives, as well as statements concerning the Company's future debt maturity profile and related liquidity planning. Forward-looking statements may be identified by terms such as "expect," "anticipate," "intend," "plan," "may," "will," "target," "estimate," "project," "guidance," or similar expressions. These statements are based on current assumptions and are subject to risks and uncertainties—many of which are outside the Company's control—that could cause actual results to differ materially, including macroeconomic, regulatory, and political conditions; changes in consumer behavior; foreign exchange and interest rate volatility; inflation; financial market conditions; and the risk factors described in the Company's most recent annual report on Form 20-F and other documents filed or furnished 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.brightstarlottery.com. Forward-looking statements speak only as of the date made, and except as required by law, the Company undertakes no obligation to update them. Nothing in this release constitutes a profit forecast or indicates that future performance will match or exceed past results. All subsequent written or oral forward-looking statements attributable to the Company, or persons acting on its behalf, are expressly qualified in their entirety by this cautionary statement.

**<u>Non-GAAP Financial Measures</u>**

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 EBIT represents net income (loss) from continuing operations (a GAAP measure) before income taxes, interest expense, net, foreign exchange gain (loss), net, other expenses (e.g., gains/losses on extinguishment and modifications of debt, etc.), net, impairment losses, 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. Management believes that Adjusted EBIT is useful in providing period-to-period comparisons of the results of the Company's ongoing operational performance.

Adjusted EBIT margin represents Adjusted EBIT divided by revenue.

Adjusted EBITDA represents net income (loss) from continuing operations (a GAAP measure) before income taxes, interest expense, net, foreign exchange gain (loss), net, other expenses (e.g., gains/losses on extinguishment and modifications of debt, etc.), net, 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. Management believes that Adjusted EBITDA is useful in providing period-to-period comparisons of the results of the Company's ongoing operational performance.

Adjusted EBITDA margin represents Adjusted EBITDA divided by revenue.

Adjusted EPS represents diluted earnings per share (a GAAP measure), excluding the effects of foreign exchange, impairments, amortization from purchase accounting, discrete tax items, and other significant non-recurring adjustments that are not reflective of on-going operational activities (e.g., gains/losses on sale of business, gains/losses on extinguishment and modifications of debt, etc.). Adjusted EPS is calculated using diluted weighted-average number of shares outstanding, including the impact of any potentially dilutive common stock equivalents that are anti-dilutive to GAAP net income (loss) per share but dilutive to Adjusted EPS. Management believes that Adjusted EPS is 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 equivalents, including cash and cash equivalents classified as held for sale. Cash and cash equivalents, including cash and cash equivalents held for sale, 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 prior to such date. Management believes that net debt leverage is a useful measure to assess Brightstar's 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 Brightstar's ability to fund its activities, including debt service and distribution of earnings to shareholders.

Constant currency is a non-GAAP adjustment to certain financial measures that expresses current financial data using the prior-year/period exchange rate (i.e., the exchange rate 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.

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The Company provides guidance of select information related to its financial and operating performance, and such measures may differ from year to year. The guidance is only an estimate of what the Company believes is realizable as of the date of this release. Actual results may vary from the guidance and the variations may be material. The Company undertakes no intent or obligation to publicly update or revise any of these projections, whether as a result of new information, future events or otherwise, except as required by law.

A reconciliation of the Company's forward-looking non-GAAP financial measures to the most directly comparable GAAP financial measure cannot be provided without unreasonable effort. This is due to the inherent difficulty of accurately forecasting the occurrence and financial impact of the adjusting items necessary for such a reconciliation to be prepared, for example, the provision for income taxes or net foreign exchange gain/loss, as such items have not yet occurred, are out of the Company's control, or cannot be reasonably predicted.

**<u>Contact</u>**

Mike DeAngelis, Corporate Communications, +1 (401) 392-1000, mike.deangelis@brightstarlottery.com

Matteo Selva, Italian media inquiries, +39 366 6803635

James Hurley, Investor Relations, +1 (401) 392-7190

------

**<u>Select Performance and KPI data</u>** (In $ millions, unless otherwise noted)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Q4'25** | | **Q4'24** | **Y/Y Change** | **Constant Currency Change**<sup>(1)</sup> | **FY'25** | | **FY'24** | **Y/Y Change** | **Constant Currency Change**<sup>(1)</sup> |
| **Revenue** | | | | | | | | | | |
| &nbsp;&nbsp;**Service** | | | | | | | | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Instant ticket & draw wager-based revenue | 530 |  | 511 | 4% | (2)% | 2058 |  | 1989 | 3% | 1% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. multi-state jackpot wager-based revenue | 38 |  | 26 | 46% | 46% | 106 |  | 101 | 5% | 5% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upfront license fee amortization | (69) |  | (49) | (42)% | (29)% | (223) |  | (198) | (12)% | (7)% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | 111 |  | 103 | 8% | 5% | 420 |  | 471 | (11)% | (12)% |
| &nbsp;&nbsp;**Total service revenue** | **611** |  | **591** | **3%** | **(1)%** | **2360** |  | **2363** | **—%** | **(2)%** |
| &nbsp;&nbsp;**Product sales** | **57** |  | **60** | **(4)%** | **(9)%** | **151** |  | **149** | **1%** | **(1)%** |
| **Total revenue** | **668** |  | **651** | **3%** | **(2)%** | **2511** |  | **2512** | **—%** | **(2)%** |
| **Income from continuing operations** | **92** |  | **116** | **(21)%** |  | **135** |  | **271** | **(50)%** |  |
| **Adjusted EBIT** | **177** |  | **188** | **(6)%** | **(13)%** | **677** |  | **768** | **(12)%** | **(15)%** |
| **Adjusted EBITDA**<sup>(1)</sup> | **304** |  | **290** | **5%** | **(2)%** | **1121** |  | **1170** | **(4)%** | **(7)%** |
| **Same-store sales growth (%) at constant currency (wager-based growth)** <sup>(2)</sup> | **Same-store sales growth (%) at constant currency (wager-based growth)** <sup>(2)</sup> | **Same-store sales growth (%) at constant currency (wager-based growth)** <sup>(2)</sup> | **Same-store sales growth (%) at constant currency (wager-based growth)** <sup>(2)</sup> | **Same-store sales growth (%) at constant currency (wager-based growth)** <sup>(2)</sup> | **Same-store sales growth (%) at constant currency (wager-based growth)** <sup>(2)</sup> |  |  |  |  |  |
| **Global** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Instant ticket & draw games | 0.3% |  | 3.9% |  |  | 1.6% |  | 1.1% |  |  |
| &nbsp;&nbsp;&nbsp;U.S. multi-state jackpots | 43.6% |  | (20.2%) |  |  | 3.4% |  | (22.1%) |  |  |
| **Total** | **3.5%** |  | **1.8%** |  |  | **1.7%** |  | **(0.8** **%)** |  |  |
| **U.S.** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Instant ticket & draw games | 0.1% |  | 2.2% |  |  | 0.3% |  | (0.5%) |  |  |
| &nbsp;&nbsp;&nbsp;U.S. multi-state jackpots | 43.6% |  | (20.2%) |  |  | 3.4% |  | (22.1%) |  |  |
| **Total** | **4.7%** |  | **(0.7** **%)** |  |  | **0.6%** |  | **(3.3** **%)** |  |  |
| **Italy** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Instant ticket & draw games | **(0.5** **%)** | <sup>(3)</sup> | **7.0%** |  |  | **2.0%** | <sup>(3)</sup> | **4.1%** |  |  |
| **Rest of world** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Instant ticket & draw games | **5.0%** |  | **5.6%** |  |  | **8.0%** |  | **3.3%** |  |  |
| <sup>(1)</sup> *Non-GAAP measure; see disclaimer on page 5 and reconciliations to the most directly comparable GAAP measure in Appendix for further details* | <sup>(1)</sup> *Non-GAAP measure; see disclaimer on page 5 and reconciliations to the most directly comparable GAAP measure in Appendix for further details* | <sup>(1)</sup> *Non-GAAP measure; see disclaimer on page 5 and reconciliations to the most directly comparable GAAP measure in Appendix for further details* | <sup>(1)</sup> *Non-GAAP measure; see disclaimer on page 5 and reconciliations to the most directly comparable GAAP measure in Appendix for further details* | <sup>(1)</sup> *Non-GAAP measure; see disclaimer on page 5 and reconciliations to the most directly comparable GAAP measure in Appendix for further details* | <sup>(1)</sup> *Non-GAAP measure; see disclaimer on page 5 and reconciliations to the most directly comparable GAAP measure in Appendix for further details* | <sup>(1)</sup> *Non-GAAP measure; see disclaimer on page 5 and reconciliations to the most directly comparable GAAP measure in Appendix for further details* | <sup>(1)</sup> *Non-GAAP measure; see disclaimer on page 5 and reconciliations to the most directly comparable GAAP measure in Appendix for further details* | <sup>(1)</sup> *Non-GAAP measure; see disclaimer on page 5 and reconciliations to the most directly comparable GAAP measure in Appendix for further details* | <sup>(1)</sup> *Non-GAAP measure; see disclaimer on page 5 and reconciliations to the most directly comparable GAAP measure in Appendix for further details* | <sup>(1)</sup> *Non-GAAP measure; see disclaimer on page 5 and reconciliations to the most directly comparable GAAP measure in Appendix for further details* |
| <sup>(2)</sup> *Same-store sales represents the change in wagers recorded in lottery jurisdictions where Brightstar is the operator or facilities management supplier, using the same lottery jurisdictions and perimeter for comparisons between periods* | <sup>(2)</sup> *Same-store sales represents the change in wagers recorded in lottery jurisdictions where Brightstar is the operator or facilities management supplier, using the same lottery jurisdictions and perimeter for comparisons between periods* | <sup>(2)</sup> *Same-store sales represents the change in wagers recorded in lottery jurisdictions where Brightstar is the operator or facilities management supplier, using the same lottery jurisdictions and perimeter for comparisons between periods* | <sup>(2)</sup> *Same-store sales represents the change in wagers recorded in lottery jurisdictions where Brightstar is the operator or facilities management supplier, using the same lottery jurisdictions and perimeter for comparisons between periods* | <sup>(2)</sup> *Same-store sales represents the change in wagers recorded in lottery jurisdictions where Brightstar is the operator or facilities management supplier, using the same lottery jurisdictions and perimeter for comparisons between periods* | <sup>(2)</sup> *Same-store sales represents the change in wagers recorded in lottery jurisdictions where Brightstar is the operator or facilities management supplier, using the same lottery jurisdictions and perimeter for comparisons between periods* | <sup>(2)</sup> *Same-store sales represents the change in wagers recorded in lottery jurisdictions where Brightstar is the operator or facilities management supplier, using the same lottery jurisdictions and perimeter for comparisons between periods* | <sup>(2)</sup> *Same-store sales represents the change in wagers recorded in lottery jurisdictions where Brightstar is the operator or facilities management supplier, using the same lottery jurisdictions and perimeter for comparisons between periods* | <sup>(2)</sup> *Same-store sales represents the change in wagers recorded in lottery jurisdictions where Brightstar is the operator or facilities management supplier, using the same lottery jurisdictions and perimeter for comparisons between periods* | <sup>(2)</sup> *Same-store sales represents the change in wagers recorded in lottery jurisdictions where Brightstar is the operator or facilities management supplier, using the same lottery jurisdictions and perimeter for comparisons between periods* | <sup>(2)</sup> *Same-store sales represents the change in wagers recorded in lottery jurisdictions where Brightstar is the operator or facilities management supplier, using the same lottery jurisdictions and perimeter for comparisons between periods* |
| <sup>(3)</sup> *Instant ticket & draw game same-store sales normalized for a like number of Italy Lotto draws and sell-in days were 0.3% and 2.9% in Q4'25 and FY'25, respectively* | <sup>(3)</sup> *Instant ticket & draw game same-store sales normalized for a like number of Italy Lotto draws and sell-in days were 0.3% and 2.9% in Q4'25 and FY'25, respectively* | <sup>(3)</sup> *Instant ticket & draw game same-store sales normalized for a like number of Italy Lotto draws and sell-in days were 0.3% and 2.9% in Q4'25 and FY'25, respectively* | <sup>(3)</sup> *Instant ticket & draw game same-store sales normalized for a like number of Italy Lotto draws and sell-in days were 0.3% and 2.9% in Q4'25 and FY'25, respectively* | <sup>(3)</sup> *Instant ticket & draw game same-store sales normalized for a like number of Italy Lotto draws and sell-in days were 0.3% and 2.9% in Q4'25 and FY'25, respectively* | <sup>(3)</sup> *Instant ticket & draw game same-store sales normalized for a like number of Italy Lotto draws and sell-in days were 0.3% and 2.9% in Q4'25 and FY'25, respectively* | <sup>(3)</sup> *Instant ticket & draw game same-store sales normalized for a like number of Italy Lotto draws and sell-in days were 0.3% and 2.9% in Q4'25 and FY'25, respectively* | <sup>(3)</sup> *Instant ticket & draw game same-store sales normalized for a like number of Italy Lotto draws and sell-in days were 0.3% and 2.9% in Q4'25 and FY'25, respectively* | <sup>(3)</sup> *Instant ticket & draw game same-store sales normalized for a like number of Italy Lotto draws and sell-in days were 0.3% and 2.9% in Q4'25 and FY'25, respectively* | <sup>(3)</sup> *Instant ticket & draw game same-store sales normalized for a like number of Italy Lotto draws and sell-in days were 0.3% and 2.9% in Q4'25 and FY'25, respectively* | <sup>(3)</sup> *Instant ticket & draw game same-store sales normalized for a like number of Italy Lotto draws and sell-in days were 0.3% and 2.9% in Q4'25 and FY'25, respectively* |

---

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Q4'25** | **Q4'24** | **Y/Y Change** | **Constant Currency Change**<sup>(1)</sup> | **FY'25** | **FY'24** | **Y/Y Change** | **Constant Currency Change**<sup>(1)</sup> |
| **<u>Same-store revenue growth (%) at constant currency (Same-store sales inclusive of contract mix)</u>** <sup>(2)</sup> | **<u>Same-store revenue growth (%) at constant currency (Same-store sales inclusive of contract mix)</u>** <sup>(2)</sup> | **<u>Same-store revenue growth (%) at constant currency (Same-store sales inclusive of contract mix)</u>** <sup>(2)</sup> | **<u>Same-store revenue growth (%) at constant currency (Same-store sales inclusive of contract mix)</u>** <sup>(2)</sup> | **<u>Same-store revenue growth (%) at constant currency (Same-store sales inclusive of contract mix)</u>** <sup>(2)</sup> | | | | |
| **Global** | | | | | | | | |
| &nbsp;&nbsp;&nbsp;Instant ticket & draw games | 0.6% | 4.3% |  |  | 2.0% | 1.8% |  |  |
| &nbsp;&nbsp;&nbsp;U.S. multi-state jackpots | 45.9% | (20.6%) |  |  | 5.0% | (22.9%) |  |  |
| **Total** | **2.9%** | **(2.7** **%)** |  |  | **2.1%** | **0.2%** |  |  |
| **U.S.** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Instant ticket & draw games | 1.9% | 2.9% |  |  | 0.8% | (0.5%) |  |  |
| &nbsp;&nbsp;&nbsp;U.S. multi-state jackpots | 45.9% | (20.6%) |  |  | 5.0% | (22.9%) |  |  |
| **Total** | **7.2%** | **(0.6** **%)** |  |  | **1.3%** | **(3.8** **%)** |  |  |
| **Italy** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Instant ticket & draw games | **(0.9** **%)** | **5.4%** |  |  | **1.8%** | **3.6%** |  |  |
| **Rest of world** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Instant ticket & draw games | **6.3%** | **3.1%** |  |  | **8.4%** | **0.8%** |  |  |
| **Revenue (by geography)** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;U.S. & Canada | 320 | 307 | 4% | 4% | 1176 | 1223 | (4)% | (4)% |
| &nbsp;&nbsp;&nbsp;Italy | 258 | 251 | 3% | (6)% | 1018 | 968 | 5% | 1% |
| &nbsp;&nbsp;&nbsp;Rest of world | 91 | 93 | (3)% | (9)% | 317 | 321 | (1)% | (4)% |
| **Total revenue** | **668** | **651** | **3%** | **(2)%** | **2511** | **2512** | **—%** | **(2)%** |
| <sup>(1)</sup> *Non-GAAP measure; see disclaimer on page 5 and reconciliations to the most directly comparable GAAP measure in Appendix for further details* | <sup>(1)</sup> *Non-GAAP measure; see disclaimer on page 5 and reconciliations to the most directly comparable GAAP measure in Appendix for further details* | <sup>(1)</sup> *Non-GAAP measure; see disclaimer on page 5 and reconciliations to the most directly comparable GAAP measure in Appendix for further details* | <sup>(1)</sup> *Non-GAAP measure; see disclaimer on page 5 and reconciliations to the most directly comparable GAAP measure in Appendix for further details* | <sup>(1)</sup> *Non-GAAP measure; see disclaimer on page 5 and reconciliations to the most directly comparable GAAP measure in Appendix for further details* | <sup>(1)</sup> *Non-GAAP measure; see disclaimer on page 5 and reconciliations to the most directly comparable GAAP measure in Appendix for further details* | <sup>(1)</sup> *Non-GAAP measure; see disclaimer on page 5 and reconciliations to the most directly comparable GAAP measure in Appendix for further details* | <sup>(1)</sup> *Non-GAAP measure; see disclaimer on page 5 and reconciliations to the most directly comparable GAAP measure in Appendix for further details* | <sup>(1)</sup> *Non-GAAP measure; see disclaimer on page 5 and reconciliations to the most directly comparable GAAP measure in Appendix for further details* |
| <sup>(2)</sup> *Same-store revenue represents the change in same-store sales net of contract mix* | <sup>(2)</sup> *Same-store revenue represents the change in same-store sales net of contract mix* | <sup>(2)</sup> *Same-store revenue represents the change in same-store sales net of contract mix* | <sup>(2)</sup> *Same-store revenue represents the change in same-store sales net of contract mix* | <sup>(2)</sup> *Same-store revenue represents the change in same-store sales net of contract mix* | <sup>(2)</sup> *Same-store revenue represents the change in same-store sales net of contract mix* | <sup>(2)</sup> *Same-store revenue represents the change in same-store sales net of contract mix* | <sup>(2)</sup> *Same-store revenue represents the change in same-store sales net of contract mix* | <sup>(2)</sup> *Same-store revenue represents the change in same-store sales net of contract mix* |

---

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| | | | | |
|:---|:---|:---|:---|:---|
| **Brightstar Lottery PLC** | **Brightstar Lottery PLC** | **Brightstar Lottery PLC** | **Brightstar Lottery PLC** | **Brightstar Lottery PLC** |
| **Consolidated Statements of Operations** | **Consolidated Statements of Operations** | **Consolidated Statements of Operations** | **Consolidated Statements of Operations** | **Consolidated Statements of Operations** |
| ***($ and shares in millions, except per share amounts)*** | ***($ and shares in millions, except per share amounts)*** | ***($ and shares in millions, except per share amounts)*** | ***($ and shares in millions, except per share amounts)*** | ***($ and shares in millions, except per share amounts)*** |
| ***Unaudited*** | ***Unaudited*** | ***Unaudited*** | ***Unaudited*** | ***Unaudited*** |
|  | For the three months ended | For the three months ended | For the year ended | For the year ended |
|  | December 31, | December 31, | December 31, | December 31, |
|  | 2025 | 2024 | 2025 | 2024 |
| Service revenue (includes amortization of upfront license fees) | 611 | 591 | 2360 | 2363 |
| Product sales | 57 | 60 | 151 | 149 |
| **Total revenue** | **668** | **651** | **2511** | **2512** |
| Cost of services (excluding Depreciation and amortization) | 297 | 273 | 1116 | 1068 |
| Cost of product sales (excluding Depreciation and amortization) | 42 | 44 | 128 | 111 |
| General and administrative | 51 | 57 | 215 | 235 |
| Research and development | 13 | 10 | 47 | 43 |
| Sales and marketing | 31 | 34 | 123 | 122 |
| Depreciation and amortization | 58 | 52 | 221 | 204 |
| Restructuring | 7 |  | 28 | 39 |
| Interest expense, net | 42 | 46 | 172 | 206 |
| Foreign exchange (gain) loss, net | (8) | (75) | 124 | (52) |
| Other expense, net | 17 | 4 | 39 | 16 |
| **Income from continuing operations before provision for income taxes** | **119** | **206** | **299** | **521** |
| Provision for income taxes | 28 | 89 | 165 | 250 |
| **Income from continuing operations** | **92** | **116** | **135** | **271** |
| Less: Net income attributable to non-controlling interests from continuing operations | 31 | 34 | 136 | 154 |
| **Net income (loss) from continuing operations attributable to Brightstar Lottery PLC** | **61** | **83** | **(1)** | **117** |
| Income from discontinued operations, net of tax |  | 136 | 75 | 238 |
| Gain on sale of discontinued operations, net of tax |  |  | 77 |  |
| **Income from discontinued operations** | **—** | **136** | **152** | **238** |
| Less: Net income attributable to non-controlling interests from discontinued operations |  | 1 | 4 | 6 |
| **Net income from discontinued operations attributable to Brightstar Lottery PLC** | **—** | **135** | **148** | **231** |
| **Net income** | **92** | **253** | **287** | **508** |
| Net income attributable to non-controlling interests | 31 | 35 | 140 | 160 |
| **Net income attributable to Brightstar Lottery PLC** | **61** | **217** | **147** | **348** |
| **Net income (loss) from continuing operations attributable to Brightstar Lottery PLC per common share - basic** | 0.32 | 0.41 | (0.01) | 0.58 |
| **Net income (loss) from continuing operations attributable to Brightstar Lottery PLC per common share - diluted** | 0.32 | 0.40 | (0.01) | 0.57 |
| **Net income attributable to Brightstar Lottery PLC per common share - basic** | 0.32 | 1.08 | 0.74 | 1.73 |
| **Net income attributable to Brightstar Lottery PLC per common share - diluted** | 0.32 | 1.07 | 0.74 | 1.71 |
| **Weighted-average shares - basic** | 189 | 202 | 197 | 202 |
| **Weighted-average shares - diluted** | 191 | 204 | 197 | 204 |

---

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| | | |
|:---|:---|:---|
| **Brightstar Lottery PLC** | **Brightstar Lottery PLC** | **Brightstar Lottery PLC** |
| **Consolidated Balance Sheets** | **Consolidated Balance Sheets** | **Consolidated Balance Sheets** |
| ***($ in millions)*** | ***($ in millions)*** | ***($ in millions)*** |
| ***Unaudited*** | ***Unaudited*** | ***Unaudited*** |
|  | December 31, | December 31, |
|  | 2025 | 2024 |
| **Assets** |  |  |
| Current assets: |  |  |
| &nbsp;&nbsp;&nbsp;Cash and cash equivalents | 1446 | 584 |
| &nbsp;&nbsp;&nbsp;Restricted cash and cash equivalents | 54 | 120 |
| &nbsp;&nbsp;&nbsp;Trade and other receivables, net | 526 | 468 |
| &nbsp;&nbsp;&nbsp;Inventories, net | 116 | 113 |
| &nbsp;&nbsp;&nbsp;Other current assets | 193 | 114 |
| &nbsp;&nbsp;&nbsp;Assets held for sale |  | 4765 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total current assets** | **2336** | **6165** |
| &nbsp;&nbsp;&nbsp;Systems, equipment and other assets related to contracts, net | 678 | 581 |
| &nbsp;&nbsp;&nbsp;Property, plant and equipment, net | 90 | 85 |
| &nbsp;&nbsp;&nbsp;Operating lease right-of-use assets | 92 | 102 |
| &nbsp;&nbsp;&nbsp;Goodwill | 2707 | 2650 |
| &nbsp;&nbsp;&nbsp;Intangible assets, net | 125 | 89 |
| &nbsp;&nbsp;&nbsp;Other non-current assets | 3130 | 606 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total non-current assets** | **6822** | **4113** |
| **Total assets** | **9158** | **10278** |
| **Liabilities and shareholders' equity** |  |  |
| Current liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;Accounts payable | 766 | 718 |
| &nbsp;&nbsp;&nbsp;Current portion of long-term debt | 118 | 208 |
| &nbsp;&nbsp;&nbsp;Payable to ADM | 1680 |  |
| &nbsp;&nbsp;&nbsp;Other current liabilities | 508 | 619 |
| &nbsp;&nbsp;&nbsp;Liabilities held for sale |  | 1142 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total current liabilities** | **3072** | **2687** |
| &nbsp;&nbsp;&nbsp;Long-term debt, less current portion | 4060 | 5153 |
| &nbsp;&nbsp;&nbsp;Deferred income taxes | 208 | 170 |
| &nbsp;&nbsp;&nbsp;Operating lease liabilities | 72 | 83 |
| &nbsp;&nbsp;&nbsp;Other non-current liabilities | 156 | 125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total non-current liabilities** | **4496** | **5530** |
| **Total liabilities** | **7568** | **8217** |
| **Commitments and contingencies** |  |  |
| &nbsp;&nbsp;&nbsp;Brightstar Lottery PLC's shareholders' equity | 875 | 1652 |
| &nbsp;&nbsp;&nbsp;Non-controlling interests | 715 | 409 |
| **Total shareholders' equity** | **1590** | **2061** |
| **Total liabilities and shareholders' equity** | **9158** | **10278** |

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| | | | | |
|:---|:---|:---|:---|:---|
| **Brightstar Lottery PLC** | **Brightstar Lottery PLC** | **Brightstar Lottery PLC** | **Brightstar Lottery PLC** | **Brightstar Lottery PLC** |
| **Consolidated Statements of Cash Flows** | **Consolidated Statements of Cash Flows** | **Consolidated Statements of Cash Flows** | **Consolidated Statements of Cash Flows** | **Consolidated Statements of Cash Flows** |
| ***($ in millions)*** | ***($ in millions)*** | ***($ in millions)*** | ***($ in millions)*** | ***($ in millions)*** |
| ***Unaudited*** | ***Unaudited*** | ***Unaudited*** | ***Unaudited*** | ***Unaudited*** |
|  | For the three months ended | For the three months ended | For the year ended | For the year ended |
|  | December 31, | December 31, | December 31, | December 31, |
|  | 2025 | 2024 | 2025 | 2024 |
| **Cash flows from operating activities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net income | 92 | 253 | 287 | 508 |
| &nbsp;&nbsp;&nbsp;Less: Income from discontinued operations, net of tax |  | 136 | 152 | 238 |
| &nbsp;&nbsp;&nbsp;Adjustments to reconcile net income to net cash (used in) provided by operating activities from continuing operations: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization of upfront license fees | 69 | 49 | 223 | 198 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation | 46 | 44 | 182 | 171 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization | 12 | 8 | 39 | 33 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loss on extinguishment of debt | 10 |  | 19 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation |  | 7 | 15 | 38 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign exchange (gain) loss, net | (8) | (75) | 124 | (52) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred income taxes | (54) | (25) | (45) | (36) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other non-cash items, net | 2 | 5 | 18 | 14 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Changes in operating assets and liabilities, excluding the effects of dispositions: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trade and other receivables | (10) | (96) | (14) | (85) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventories | 5 | 6 | 1 | (5) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | 45 | 45 | 89 | 106 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued interest payable | 5 | 29 | (20) | (16) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued income taxes | (19) | 42 | (11) | 45 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Italian lotto license payment | (347) |  | (926) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other assets and liabilities | (70) | 17 | (22) | 26 |
| **Net cash (used in) provided by operating activities from continuing operations** | **(222)** | **174** | **(193)** | **709** |
| **Net cash provided by operating activities from discontinued operations** | **—** | **107** | **94** | **341** |
| **Net cash (used in) provided by operating activities** | **(222)** | **282** | **(99)** | **1050** |
| **Cash flows from investing activities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Capital expenditures | (76) | (45) | (316) | (149) |
| &nbsp;&nbsp;&nbsp;Investment in SP Loterias SPE S.A | (53) |  | (53) |  |
| &nbsp;&nbsp;&nbsp;Other investing activities, net | 2 | (1) | 1 |  |
| **Net cash used in investing activities from continuing operations** | **(127)** | **(47)** | **(367)** | **(150)** |
| **Net cash (used in) provided by investing activities from discontinued operations** | **—** | **(41)** | **3868** | **(207)** |
| **Net cash (used in) provided by investing activities** | **(127)** | **(87)** | **3502** | **(357)** |
| **Cash flows from financing activities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Principal payments on long-term debt | (750) |  | (2936) | (500) |
| &nbsp;&nbsp;&nbsp;Payments of debt issuance costs | (3) | (1) | (14) | (5) |
| &nbsp;&nbsp;&nbsp;Net repayments of Revolving Credit Facilities |  | (56) | (515) | (175) |
| &nbsp;&nbsp;&nbsp;Net receipts from (payments on) financial liabilities | 71 | 76 | (11) | 24 |
| &nbsp;&nbsp;&nbsp;Proceeds from long-term debt | 750 |  | 1862 | 556 |
| &nbsp;&nbsp;&nbsp;Repurchases of common stock | (20) |  | (271) |  |
| &nbsp;&nbsp;&nbsp;Net (repayment of) receipt of funds payable and amounts due to others | (41) | 25 | (75) | (20) |
| &nbsp;&nbsp;&nbsp;Receipts from foreign currency derivative |  |  | 46 | (7) |
| &nbsp;&nbsp;&nbsp;Dividends paid | (42) | (40) | (770) | (161) |
| &nbsp;&nbsp;&nbsp;Return of capital - non-controlling interests | (12) | (18) | (69) | (73) |
| &nbsp;&nbsp;&nbsp;Dividends paid - non-controlling interests |  |  | (163) | (159) |
| &nbsp;&nbsp;&nbsp;Capital increase - non-controlling interests | 209 |  | 386 | 2 |
| &nbsp;&nbsp;&nbsp;Other financing activities, net | (14) | (29) | (41) | (37) |
| **Net cash provided by (used in) financing activities from continuing operations** | **147** | **(44)** | **(2573)** | **(556)** |
| **Net cash used in financing activities from discontinued operations** | **—** | **(12)** | **(143)** | **(50)** |
| **Net cash provided by (used in) financing activities** | **147** | **(56)** | **(2716)** | **(606)** |
| Net (decrease) increase in cash and cash equivalents and restricted cash and cash equivalents | (202) | 138 | 686 | 87 |
| Effect of exchange rate changes on cash and cash equivalents and restricted cash and cash equivalents | 5 | (37) | 39 | (51) |
| Cash and cash equivalents and restricted cash and cash equivalents at the beginning of the period | 1696 | 674 | 775 | 739 |
| Cash and cash equivalents and restricted cash and cash equivalents at the end of the period | 1500 | 775 | 1500 | 775 |
| Less: Cash and cash equivalents and restricted cash and cash equivalents of discontinued operations |  | 71 |  | 71 |
| Cash and cash equivalents and restricted cash and cash equivalents at the end of the period of continuing operations | 1500 | 704 | 1500 | 704 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Supplemental disclosures of cash flow information for continuing operations:** | | | | |
| &nbsp;&nbsp;&nbsp;Interest paid | 42 | 18 | 213 | 221 |
| &nbsp;&nbsp;&nbsp;Income taxes paid | 101 | 72 | 220 | 241 |

---

------

---

| | | |
|:---|:---|:---|
| **Brightstar Lottery PLC** | **Brightstar Lottery PLC** | **Brightstar Lottery PLC** |
| **Net Debt** | **Net Debt** | **Net Debt** |
| ***($ in millions)*** | ***($ in millions)*** | ***($ in millions)*** |
| ***Unaudited*** | ***Unaudited*** | ***Unaudited*** |
|  | December 31, | December 31, |
|  | 2025 | 2024 |
| 4.125% Senior Secured U.S. Dollar Notes due April 2026 |  | 748 |
| 3.500% Senior Secured Euro Notes due June 2026 |  | 777 |
| 6.250% Senior Secured U.S. Dollar Notes due January 2027 |  | 748 |
| 2.375% Senior Secured Euro Notes due April 2028 | 586 | 517 |
| 5.250% Senior Secured U.S. Dollar Notes due January 2029 | 747 | 746 |
| 4.250% Senior Secured Euro Notes due March 2030 | 581 | 513 |
| 5.750% Senior Secured U.S. Dollar Notes due January 2033 | 742 |  |
| **Senior Secured Notes** | **2657** | **4050** |
| Euro Term Loan Facilities due January 2027 | 234 | 619 |
| Euro Term Loan Facilities due September 2030 | 1169 |  |
| Revolving Credit Facility A due July 2027 |  | 157 |
| Revolving Credit Facility B due July 2027 |  | 328 |
| **Long-term debt, less current portion** | **4060** | **5153** |
| Euro Term Loan Facilities due January 2027 | 118 | 208 |
| **Current portion of long-term debt** | **118** | **208** |
| **Total debt** | **4178** | **5361** |
| Less: Cash and cash equivalents | 1446 | 584 |
| Less: Debt issuance costs, net - Revolving Credit Facility A due July 2027 | 4 |  |
| Less: Debt issuance costs, net - Revolving Credit Facility B due July 2027 | 4 |  |
| **Net debt** | **2723** | **4777** |
| Note: Net debt is a non-GAAP financial measure |  |  |

---

------

**Brightstar Lottery PLC**

**Reconciliation of Non-GAAP Financial Measures**

*(Unaudited, $ in millions)*

---

| | | | | |
|:---|:---|:---|:---|:---|
| | For the three months ended December 31, | For the three months ended December 31, | For the year ended December 31, | For the year ended December 31, |
| | 2025 | 2024 | 2025 | 2024 |
| Income from continuing operations | 92 | 116 | 135 | 271 |
| &nbsp;&nbsp;&nbsp;Provision for income taxes | 28 | 89 | 165 | 250 |
| &nbsp;&nbsp;&nbsp;Interest expense, net | 42 | 46 | 172 | 206 |
| &nbsp;&nbsp;&nbsp;Foreign exchange loss (gain), net | (8) | (75) | 124 | (52) |
| &nbsp;&nbsp;&nbsp;Restructuring | 7 |  | 28 | 39 |
| &nbsp;&nbsp;&nbsp;Stock-based compensation |  | 7 | 15 | 38 |
| &nbsp;&nbsp;&nbsp;Other expense, net | 17 | 4 | 39 | 16 |
| **Adjusted EBIT** | **177** | **188** | **677** | **768** |
| Income from continuing operations | 92 | 116 | 135 | 271 |
| &nbsp;&nbsp;&nbsp;Provision for income taxes | 28 | 89 | 165 | 250 |
| &nbsp;&nbsp;&nbsp;Interest expense, net | 42 | 46 | 172 | 206 |
| &nbsp;&nbsp;&nbsp;Foreign exchange loss (gain), net | (8) | (75) | 124 | (52) |
| &nbsp;&nbsp;&nbsp;Depreciation | 46 | 44 | 182 | 171 |
| &nbsp;&nbsp;Amortization - service revenue <sup>(1)</sup> | 69 | 49 | 223 | 198 |
| &nbsp;&nbsp;&nbsp;Amortization - non-purchase accounting | 9 | 6 | 31 | 23 |
| &nbsp;&nbsp;&nbsp;Amortization - purchase accounting | 2 | 2 | 9 | 9 |
| &nbsp;&nbsp;&nbsp;Restructuring | 7 |  | 28 | 39 |
| &nbsp;&nbsp;&nbsp;Stock-based compensation |  | 7 | 15 | 38 |
| &nbsp;&nbsp;&nbsp;Other expenses, net | 17 | 4 | 39 | 16 |
| **Adjusted EBITDA** | **304** | **290** | **1121** | **1170** |
| &nbsp;&nbsp;&nbsp;Cash flows from operating activities - continuing operations | (222) | 174 | (193) | 709 |
| &nbsp;&nbsp;&nbsp;Capital expenditures | (76) | (45) | (316) | (149) |
| **Free Cash Flow** | **(298)** | **129** | **(509)** | **560** |
| <sup>(1)</sup> Includes amortization of upfront license fees |  |  |  |  |

---

------

**Brightstar Lottery PLC**

**Reconciliation of Non-GAAP Financial Measures**

*(Unaudited)*

---

| | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | For the three months ended December 31, | For the three months ended December 31, | For the three months ended December 31, | For the three months ended December 31, | For the three months ended December 31, | For the three months ended December 31, | For the three months ended December 31, | | For the year ended December 31, | For the year ended December 31, | For the year ended December 31, | For the year ended December 31, | For the year ended December 31, | For the year ended December 31, | For the year ended December 31, | |
| | 2025 | 2025 | 2025 | | 2024 | 2024 | 2024 | | 2025 | 2025 | 2025 | | 2024 | 2024 | 2024 | |
| | Pre-Tax Impact | Tax Impact <sup>(1)</sup> | Net Impact | | Pre-Tax Impact | Tax Impact <sup>(1)</sup> | Net Impact | | Pre-Tax Impact | Tax Impact <sup>(1)</sup> | Net Impact | | Pre-Tax Impact | Tax Impact <sup>(1)</sup> | Net Impact | |
| Reported EPS from continuing operations attributable to Brightstar Lottery PLC - diluted |  |  | 0.32 |  |  |  | 0.40 |  |  |  | (0.01) |  |  |  | 0.57 |  |
| Adjustments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Foreign exchange (gain) loss, net | (0.04) |  | (0.04) |  | (0.37) | 0.01 | (0.38) |  | 0.62 | (0.04) | 0.66 |  | (0.25) | 0.02 | (0.27) |  |
| &nbsp;&nbsp;&nbsp;Amortization - purchase accounting | 0.01 |  | 0.01 |  | 0.01 |  | 0.01 |  | 0.04 | 0.01 | 0.04 |  | 0.05 | 0.01 | 0.03 |  |
| &nbsp;&nbsp;&nbsp;Loss on extinguishment and modifications of debt, net | 0.05 | 0.01 | 0.04 |  |  |  |  |  | 0.09 | 0.01 | 0.08 |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Discrete tax items |  |  |  |  |  | (0.18) | 0.18 |  |  |  |  |  |  | (0.19) | 0.19 |  |
| &nbsp;&nbsp;&nbsp;Restructuring | 0.03 | 0.01 | 0.02 |  |  | 0.01 | (0.01) |  | 0.14 | 0.04 | 0.10 |  | 0.19 | 0.06 | 0.13 |  |
| &nbsp;&nbsp;&nbsp;Other (non-recurring adjustments) | 0.01 |  | 0.01 |  | 0.01 |  | 0.01 |  | 0.05 | 0.01 | 0.04 |  | 0.03 |  | 0.02 |  |
| Net adjustments |  |  | 0.04 |  |  |  | (0.19) |  |  |  | 0.91 |  |  |  | 0.10 |  |
| **Adjusted EPS from continuing operations attributable to Brightstar Lottery PLC - diluted** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| **Adjusted EPS from continuing operations attributable to Brightstar Lottery PLC - diluted** |  |  | **0.36** |  |  |  | **0.22** |  |  |  | **0.91** |  |  |  | **0.67** |  |
| Reported effective tax rate |  |  | 23.2% |  |  |  | 43.4% |  |  |  | 55.0% |  |  |  | 48.0% |  |
| Adjusted effective tax rate |  |  | 25.2% |  |  |  | 42.1% |  |  |  | 35.2% |  |  |  | 44.3% |  |
| Adjusted EPS weighted average shares outstanding *(in millions)* | Adjusted EPS weighted average shares outstanding *(in millions)* |  | 191 | (2) |  |  | 204 | (2) |  |  | 199 | (2) |  |  | 204 | (2) |
| <sup>(1)</sup> *Calculated based on nature of item, including any realizable deductions, and statutory tax rate in effect for the relevant jurisdiction* | <sup>(1)</sup> *Calculated based on nature of item, including any realizable deductions, and statutory tax rate in effect for the relevant jurisdiction* | <sup>(1)</sup> *Calculated based on nature of item, including any realizable deductions, and statutory tax rate in effect for the relevant jurisdiction* | <sup>(1)</sup> *Calculated based on nature of item, including any realizable deductions, and statutory tax rate in effect for the relevant jurisdiction* | <sup>(1)</sup> *Calculated based on nature of item, including any realizable deductions, and statutory tax rate in effect for the relevant jurisdiction* | <sup>(1)</sup> *Calculated based on nature of item, including any realizable deductions, and statutory tax rate in effect for the relevant jurisdiction* | <sup>(1)</sup> *Calculated based on nature of item, including any realizable deductions, and statutory tax rate in effect for the relevant jurisdiction* | <sup>(1)</sup> *Calculated based on nature of item, including any realizable deductions, and statutory tax rate in effect for the relevant jurisdiction* | <sup>(1)</sup> *Calculated based on nature of item, including any realizable deductions, and statutory tax rate in effect for the relevant jurisdiction* | <sup>(1)</sup> *Calculated based on nature of item, including any realizable deductions, and statutory tax rate in effect for the relevant jurisdiction* | <sup>(1)</sup> *Calculated based on nature of item, including any realizable deductions, and statutory tax rate in effect for the relevant jurisdiction* | <sup>(1)</sup> *Calculated based on nature of item, including any realizable deductions, and statutory tax rate in effect for the relevant jurisdiction* | <sup>(1)</sup> *Calculated based on nature of item, including any realizable deductions, and statutory tax rate in effect for the relevant jurisdiction* | <sup>(1)</sup> *Calculated based on nature of item, including any realizable deductions, and statutory tax rate in effect for the relevant jurisdiction* | <sup>(1)</sup> *Calculated based on nature of item, including any realizable deductions, and statutory tax rate in effect for the relevant jurisdiction* | <sup>(1)</sup> *Calculated based on nature of item, including any realizable deductions, and statutory tax rate in effect for the relevant jurisdiction* | <sup>(1)</sup> *Calculated based on nature of item, including any realizable deductions, and statutory tax rate in effect for the relevant jurisdiction* |
| <sup>(2)</sup> *Includes the dilutive impact of share-based payment awards* | <sup>(2)</sup> *Includes the dilutive impact of share-based payment awards* | <sup>(2)</sup> *Includes the dilutive impact of share-based payment awards* | <sup>(2)</sup> *Includes the dilutive impact of share-based payment awards* | <sup>(2)</sup> *Includes the dilutive impact of share-based payment awards* | <sup>(2)</sup> *Includes the dilutive impact of share-based payment awards* | <sup>(2)</sup> *Includes the dilutive impact of share-based payment awards* | <sup>(2)</sup> *Includes the dilutive impact of share-based payment awards* | <sup>(2)</sup> *Includes the dilutive impact of share-based payment awards* | <sup>(2)</sup> *Includes the dilutive impact of share-based payment awards* | <sup>(2)</sup> *Includes the dilutive impact of share-based payment awards* | <sup>(2)</sup> *Includes the dilutive impact of share-based payment awards* | <sup>(2)</sup> *Includes the dilutive impact of share-based payment awards* | <sup>(2)</sup> *Includes the dilutive impact of share-based payment awards* | <sup>(2)</sup> *Includes the dilutive impact of share-based payment awards* | <sup>(2)</sup> *Includes the dilutive impact of share-based payment awards* | <sup>(2)</sup> *Includes the dilutive impact of share-based payment awards* |

---

## Exhibit 99.2

![](q425earningsslidedeck-fi001.jpg)

Q4 and Full-Year Earnings Report 2025: PERIOD ENDED DECEMBER 31, 2025

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![](q425earningsslidedeck-fi002.jpg)

2 Cautionary Statement Regarding Forward-Looking Statements This presentation contains forward-looking statements (including within the meaning of the U.S. Private Securities Litigation Reform Act of 1995) regarding the Brightstar Lottery PLC's (the "Company") future plans, strategies, expected growth, regulatory developments, anticipated new or renewed contracts, and future products, services, technologies, and operational initiatives. Forward-looking statements include, without limitation, expectations regarding future revenue, income from continuing operations, Adjusted EBITDA, cash flows (including free cash flow), capital expenditures, capital allocation plans, dividend levels, share repurchases, FY'26 financial outlook, organic growth expectations, and the Company's medium-term financial targets. These statements also include expectations relating to iLottery expansion, Italy B2C digital execution, U.S. regulatory momentum, international expansion opportunities, anticipated contributions from long-term contract awards, OPtiMa cost-savings and AI-related initiatives, as well as statements concerning the Company's future debt maturity profile and related liquidity planning. Forward-looking statements may be identified by terms such as "expect," "anticipate," "intend," "plan," "may," "will," "target," "estimate," "project," "guidance," or similar expressions. These statements are based on current assumptions and are subject to risks and uncertainties—many of which are outside the Company's control—that could cause actual results to differ materially, including macroeconomic, regulatory, and political conditions; changes in consumer behavior; foreign exchange and interest rate volatility; inflation; financial market conditions; and the risk factors described in the Company's most recent annual report on Form 20-F and other documents filed or furnished 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.brightstarlottery.com. Forward-looking statements speak only as of the date made, and except as required by law, the Company undertakes no obligation to update them. Nothing in this presentation constitutes a profit forecast or indicates that future performance will match or exceed past results. All subsequent written or oral forward- looking statements attributable to the Company, or persons acting on its behalf, are expressly qualified in their entirety by this cautionary statement. Comparability of Results All figures presented in this presentation are prepared under U.S. GAAP, unless noted otherwise. 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 EBIT represents net income (loss) from continuing operations (a GAAP measure) before income taxes, interest expense, net, foreign exchange gain (loss), net, other expenses (e.g., gains/losses on extinguishment and modifications of debt, etc.), net, impairment losses, 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. Management believes that Adjusted EBIT is useful in providing period-to-period comparisons of the results of the Company's ongoing operational performance. Adjusted EBIT margin represents Adjusted EBIT divided by revenue. Adjusted EBITDA represents net income (loss) from continuing operations (a GAAP measure) before income taxes, interest expense, net, foreign exchange gain (loss), net, other expenses (e.g., gains/losses on extinguishment and modifications of debt, etc.), net, 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. Management believes that Adjusted EBITDA is useful in providing period-to-period comparisons of the results of the Company's ongoing operational performance. Adjusted EBITDA margin represents Adjusted EBITDA divided by revenue. Adjusted EPS represents diluted earnings per share (a GAAP measure), excluding the effects of foreign exchange, impairments, amortization from purchase accounting, discrete tax items, and other significant non-recurring adjustments that are not reflective of on-going operational activities (e.g., gains/losses on sale of business, gains/losses on extinguishment and modifications of debt, etc.). Adjusted EPS is calculated using diluted weighted- average number of shares outstanding, including the impact of any potentially dilutive common stock equivalents that are anti-dilutive to GAAP net income (loss) per share but dilutive to Adjusted EPS. Management believes that Adjusted EPS is 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 equivalents, including cash and cash equivalents held for sale. Cash and cash equivalents, including cash and cash equivalents classified as held for sale, 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 prior to such date. Management believes that net debt leverage is a useful measure to assess the Company's 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 the Company's ability to fund its activities, including debt service and distribution of earnings to shareholders. Constant currency is a non-GAAP adjustment to certain financial measures that expresses the current financial data using the prior-year/period exchange rate (i.e., the exchange rate 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. Full Year 2026 Outlook The Company provides guidance of select information related to its financial and operating performance, and such measures may differ from year to year. The guidance is only an estimate of what the Company believes is realizable as of the date of this release. Actual results may vary from the guidance and the variations may be material. The Company undertakes no intent or obligation to publicly update or revise any of these projections, whether as a result of new information, future events or otherwise, except as required by law. A reconciliation of our forward-looking non-GAAP financial measures to the most directly comparable GAAP financial measure cannot be provided without unreasonable effort. This is due to the inherent difficulty of accurately forecasting the occurrence and financial impact of the adjusting items necessary for such a reconciliation to be prepared, for example, the provision for income taxes or net foreign gain/loss, as such items have not yet occurred, are out of our control, or cannot be reasonably predicted. BRIGHTSTAR EARNINGS REPORT - Q4'25 AND FY'25

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![](q425earningsslidedeck-fi003.jpg)

Contents 03 Appendix04 01 Strategy Update 02 Financial Results Q&A BRIGHTSTAR EARNINGS REPORT - Q4'25 AND FY'253

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![](q425earningsslidedeck-fi004.jpg)

01 Strategy Update

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![](q425earningsslidedeck-fi005.jpg)

5 Successful Execution of Key Strategic Priorities in FY'25 01 STRATEGY UPDATE Launched Brightstar as Pure Play Lottery Business Communicated Capital Allocation Plans Significantly Reduced Debt & Leverage Closed IGT Gaming Sale Secured Italy Lotto Contract BRIGHTSTAR EARNINGS REPORT - Q4'25 AND FY'25

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![](q425earningsslidedeck-fi006.jpg)

6 FY'25 Profit & Cash Flow Highlight Brightstar's Attractive Business Model 01 STRATEGY UPDATE >$1.1B FY'25 Adjusted EBITDA\* Returned >$1B to Shareholders Cash Generation Funds Key Initiatives Diversity of Portfolio Drives Q4 & FY'25 Same-store Sales (SSS) Growth Double-digit Percentage Increase in Quarterly Cash Dividend BRIGHTSTAR EARNINGS REPORT - Q4'25 AND FY'25 Net Debt Leverage\* Improves to 2.4x \*Non-GAAP measure; see disclaimer on page 2 and reconciliations to the most directly comparable GAAP measures in Appendix for further details

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![](q425earningsslidedeck-fi007.jpg)

7 FY'26: An Important Year of Investment in Growth Initiatives 01 STRATEGY UPDATE BRIGHTSTAR EARNINGS REPORT - Q4'25 AND FY'25 iLottery Expansion Game Innovation & Portfolio Optimization Italy B2C Digital Execution Channel & POS Expansion New Contract Opportunities OPtiMa Savings & AI Initiatives

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![](q425earningsslidedeck-fi008.jpg)

8 The Future is Brightstar Global Leadership in Large, Growing Industry Growing, Resilient Business with High Contractual Recurring Revenue Significant Tailwind from Broader iLottery Adoption Attractive Profit Profile & Strong, Predictable Cash Flows Balanced Capital Allocation Strategy Includes Increased Capital Returns for Shareholders Current Valuation Provides Compelling Entry Point 01 STRATEGY UPDATE BRIGHTSTAR EARNINGS REPORT - Q4'25 AND FY'25

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![](q425earningsslidedeck-fi009.jpg)

02 Financial Results

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![](q425earningsslidedeck-fi010.jpg)

10 Q4'25 Revenue Beats Expectations On Elevated Jackpot Activity; FY'25 Results Include Increased Demand for Instant Ticket & Draw Games 02 FINANCIAL RESULTS Revenue BRIGHTSTAR EARNINGS REPORT - Q4'25 AND FY'25 307 320 320 251 236 258 93 85 91 Q4' 24 Instant Ticket & Draw U.S. Multi- state Jackpots Other Service & Upfront License Fee Amortization Product Sales Excluding FX FX Q4'25 651 640 668 RoW Italy U.S. & Canada Elevated U.S. MSJP activity Increased Italy Lotto license fee amortization -10 12 -8 -5 28 Amounts in $ millions, unless otherwise noted SSS growth more than offset by U.K. transition FY'24 FY'25 2,512 13 5 -69 -1 2,460 51 2,511

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![](q425earningsslidedeck-fi011.jpg)

Income/(Loss) from Continuing Operations Adjusted EBITDA 11 Resilient Profit Generation in Q4'25 & FY'25 02 FINANCIAL RESULTS BRIGHTSTAR EARNINGS REPORT - Q4'25 AND FY'25 290 284 304 Q4'24 Service Gross Margin Product Sales Gross Margin Other\*\* Excluding FX FX Q4'25 -8 19 -2 4 Elevated U.S MSJP activity more than offset by U.K. transition & investments in business \*Operational drivers includes gross profit, G&A, R&D, S&M & D&A Amounts in $ millions, unless otherwise noted \*\*Other includes G&A, R&D, & S&M -5 -7 OPtiMa cost savings net of investments in the business 116 92 Q4'24 Operational Drivers\* Restructuring FX Tax Provision Other Q4'25 -67 61 -7Increased Italy Lotto license fee amortization FY'24 FY'25 271 -68 11 -176 85 11 135 FY'24 FY'25 1,170 -71 -19 6 1,085 36 1,121

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![](q425earningsslidedeck-fi012.jpg)

12 Cash Generation Funds Key Investments & Significant Shareholder Returns 02 FINANCIAL RESULTS BRIGHTSTAR EARNINGS REPORT - Q4'25 AND FY'25 Note: cash flow results reflect continuing operations \*Non-GAAP measure; see disclaimer on page 2 and reconciliations to the most directly comparable GAAP measures in Appendix for further details • Lotto license fee €2.23B or ~$2.56B • €800M or $926M paid in FY'25; BRSL share €492M or ~$569M • €1.43B or $1.68B due in Q2'26; BRSL share ~€879M or ~$1.03B • Significant shareholder returns • $271M in share repurchases; 9% reduction in shares outstanding • $770M in cash dividends • $600M special dividend • $170M quarterly cash dividends • Double-digit percentage increase in quarterly cash dividend • $0.20 in Q2'25 • $0.22 in Q3'25; +10% • $0.23 in Q4'25; +5% ($193M)/$733M Cash from Operations including & excluding Lotto upfront license fee ($509M) Free Cash Flow\* including $926M for Lotto upfront license fee $316M CapEx >$1B Shareholder returns

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![](q425earningsslidedeck-fi013.jpg)

Net Debt 13 Significant Improvement in Net Debt & Leverage in FY'25 BRIGHTSTAR EARNINGS REPORT - Q4'25 AND FY'25 02 FINANCIAL RESULTS 118 470 235 235 470 588 750 588 750 2026 2027 2028 2029 2030 2033 Bank Debt Bonds 4,777 2,723 FY'24 FY'25 2.4x4.1.xNet Debt Leverage Solid financial condition with no significant near-term maturities Ample liquidity of >$3B ahead of final Lotto license fee installmentSuccessfully issued $750M 5.75% Senior Secured Notes due 2033 Debt Maturity Profile As of December 31, 2025

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![](q425earningsslidedeck-fi014.jpg)

14 Introducing FY'26 Outlook 02 FINANCIAL RESULTS BRIGHTSTAR EARNINGS REPORT - Q4'25 AND FY'25 1Reflects 100% consolidation of Italy joint venture; minority partner contributions representing their pro rata share are recorded in cash flows from financing activities CapEx reflects contractual obligations related to recent contract wins & extensions Cash from operations includes €1.43B (~$1.68B) related to final Lotto license payment Revenue Adjusted EBITDA $2.50B - $2.55B $1.16B - $1.19B Cash from Operations1 including & excluding Lotto upfront license fee ~($900M)/$750M CapEx ~$450M - $475M Total revenue includes strong organic growth • >5% organic growth • ~$175M in incremental Lotto license fee amortization impacts reported growth Adjusted EBITDA up as organic expansion & OPtiMa savings more than offset $50M investment in growth initiatives

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![](q425earningsslidedeck-fi015.jpg)

After 2025-2028 peak CapEx cycle ~$400M+ Annual Free Cash Flow Before upfront license fees but after minority distributions; implies mid-teens FCF yield at current share price 15 Roadmap to Achieving 2028 targets 02 FINANCIAL RESULTS BRIGHTSTAR EARNINGS REPORT - Q4'25 AND FY'25 Revenue Adjusted EBITDA ~$2.51B ~$1.12B 2025 Results 2026 Outlook $2.50B - $2.55B Including ~$175M in incremental Lotto license fee amortization $1.16B - $1.19B ~$2.75B ~$1.30B 2028 Target Cash from Operations As reported Cash from Operations Excluding Italy Lotto upfront fee -$193M $733M -$900M $750M

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![](q425earningsslidedeck-fi016.jpg)

03 Q&A

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04 Appendix

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04 APPENDIX FY'25 Revenue & Profit Profile 94% 6% Service Product Sales 47% 40% 13% U.S. & Canada Italy Rest of world 95% 5% Instant Ticket & Draw U.S. Multi-state Jackpots 5% 45% Income from continuing operations Adjusted EBITDA Revenue by Type Revenue by Geography Wager-based Revenue by Game Type Profit Margins BRIGHTSTAR EARNINGS REPORT - Q4'25 AND FY'2518

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19 Lottery Sales: Steady Growth & Resilience Source: Third-party data & Brightstar internal estimates U.S. CAGRs: 2000-2025E: 3.7% 2020-2022: 6.7% 2007-2025E: 3.4% Italy CAGRs: 2000-2025: 4.2% 2020-2022: 13.4% 2007-2025: 2.3% 04 APPENDIX BRIGHTSTAR EARNINGS REPORT - Q4'25 AND FY'25 March 2001– Sep 2001 March 2008–June 2009 March 2020– June 2020 0 20 40 60 80 100 Instant Other Draw Keno Multi-state Games Recession U.S. Lottery Industry Sales ($B) BRSL Italy Lottery Sales (€B) June 2001 - Dec 2001 June 2003 – Sep 2003 June 2008 - June 2009 Sep 2011- March 2013 Dec 2019 - June 2020 0 5 10 15 20 25 Lotto Scratch & Win Recession

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Q4'25 Select Performance and KPI Data $ in millions except otherwise noted (1) Same-store sales represent the change in wagers recorded in lottery jurisdictions where Brightstar is the operator or facilities management supplier, using the same lottery jurisdictions and perimeter for comparisons between periods (2) Instant ticket & draw game same-store sales normalized for a like number of Italy Lotto draws and sell-in days were 0.3% and 2.9% in Q4'25 and FY'25, respectively 04 APPENDIX BRIGHTSTAR EARNINGS REPORT - Q4'25 AND FY'2520 Revenue Q4'25 Q4'24 Y/Y Change Constant Currency Change FY'25 FY'24 Y/Y Change Constant Currency Change Service Instant ticket & draw wager-based revenue 530 511 4% (2%) 2,058 1,989 3% 1% U.S. multi-state jackpot wager-based revenue 38 26 46% 46% 106 101 5% 5% Upfront license fee amortization (69) (49) (42%) (29%) (223) (198) (12%) (7%) Other 111 103 8% 5% 420 471 (11%) (12%) Total service revenue 611 591 3% (1%) 2,360 2,363 —% (2%) Product sales 57 60 (4%) (9%) 151 149 1% (1%) Total revenue 668 651 3% (2%) 2,511 2,512 —% (2%) Income from continuing operations 92 116 (21%) 135 271 (50%) Adjusted EBIT 177 188 (6%) (13%) 677 768 (12%) (15%) Adjusted EBITDA 304 290 5% (2%) 1,121 1,170 (4%) (7%) Same-store sales growth (%) at constant currency (wager-based growth) (1) Q4'25 Constant Currency Change Q4'24 Constant Currency Change FY'25 Constant Currency Change FY'24 Constant Currency Change Global Instant ticket & draw games 0.3% 3.9% 1.6% 1.1% U.S. multi-state jackpots 43.6% (20.2%) 3.4% (22.1%) Total 3.5% 1.8% 1.7% (0.8%) U.S. Instant ticket & draw games 0.1% 2.2% 0.3% (0.5%) U.S. multi-state jackpots 43.6% (20.2%) 3.4% (22.1%) Total 4.7% (0.7%) 0.6% (3.3%) Italy Instant ticket & draw games (0.5%) (2) 7.0% 2.0% (2) 4.1% Rest of world Instant ticket & draw games 5.0 % 5.6 % 8.0 % 3.3 %

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Q4'25 Select Performance and KPI Data (1) Same-store revenue represents the change in same-store sales net of contract mix 04 APPENDIX BRIGHTSTAR EARNINGS REPORT - Q4'25 AND FY'2521 Same-store revenue growth (%) at constant currency (Same-store sales inclusive of contract mix) (1) Q4'25 Constant Currency Change Q4'24 Constant Currency Change FY'25 Constant Currency Change FY'24 Constant Currency Change Global Instant ticket & draw games 0.6% 4.3% 2.0% 1.8% U.S. multi-state jackpots 45.9% (20.6%) 5.0% (22.9%) Total 2.9% (2.7%) 2.1% 0.2% U.S. Instant ticket & draw games 1.9% 2.9% 0.8% (0.5%) U.S. multi-state jackpots 45.9% (20.6%) 5.0% (22.9%) Total 7.2% (0.6%) 1.3% (3.8%) Italy Instant ticket & draw games (0.9%) 5.4% 1.8% 3.6% Rest of world Instant ticket & draw games 6.3% 3.1% 8.4% 0.8% CONSOLIDATED Q4'25 Q4'24 Y/Y Change Constant Currency Change FY'25 FY'24 Y/Y Change Constant Currency Change Revenue (by geography) U.S. & Canada 320 307 4% 4% 1,176 1,223 (4%) (4%) Italy 258 251 3% (6%) 1,018 968 5% 1% Rest of world 91 93 (3%) (9%) 317 321 (1%) (4%) Total revenue 668 651 3% (2%) 2,511 2,512 —% (2%)

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Summarized Income Statements $ in millions except otherwise noted 04 APPENDIX BRIGHTSTAR EARNINGS REPORT - Q4'25 AND FY'2522 For the three months ended For the year ended December 31, 2025 December 31, 2024 All amounts from continuing operations Q4'25 Q4'24 Y/Y Change (%) FY'25 FY'24 Y/Y Change (%) Service Revenue (includes amortization of upfront license fees) 611 591 3% 2,360 2,363 —% Product sales 57 60 (4%) 151 149 1% Total revenue 668 651 3% 2,511 2,512 —% Cost of services (excluding Depreciation and amortization) 297 273 1,116 1,068 Cost of product sales (excluding Depreciation and amortization) 42 44 128 111 General and administrative 51 57 215 235 Research and development 13 10 47 43 Sales and Marketing 31 34 123 122 Depreciation and amortization 58 52 221 204 Restructuring 7 0 28 39 Interest expense, net 42 46 172 206 Foreign exchange (gain) loss, net (8) (75) 124 (52) Other expense, net 17 4 39 16 Income before provision for income taxes 119 206 299 521 Provision for income taxes 28 89 165 250 Income from continuing operations 92 116 135 271 Income from discontinued operations, net of tax — 136 75 238 Gain on sale of discontinued operations, net of tax — — 77 0 Net income 92 253 287 508 Less: Net income attributable to non-controlling interests from continuing operations 31 34 136 154 Less: Net income attributable to non-controlling interests from discontinued operations — 1 4 6 Net income attributable to Brightstar Lottery PLC 61 217 147 348 Net income (loss) from continuing operations attributable to Brightstar Lottery PLC per common share - diluted $0.32 $0.40 $(0.01) $0.57 Adjusted EPS from continuing operations attributable to Brightstar Lottery PLC - diluted $0.36 $0.22 $0.91 $0.67

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Summarized Cash Flow Statements $ in millions 04 APPENDIX BRIGHTSTAR EARNINGS REPORT - Q4'25 AND FY'2523 For the three months ended For the year ended December 31, 2025 December 31, 2024 Q4'25 Q4'24 FY'25 FY'24 Net cash (used in) provided by operating activities from continuing operations (222) 174 (193) 709 Capital expenditures (76) (45) (316) (149) Free Cash Flow (298) 129 (509) 560 Cash flow provided by discontinued operations — 55 3,819 84 Debt Proceeds / (Repayment), Net — (56) (1,589) (119) Shareholder dividends paid (42) (40) (770) (161) Repurchases of common stock (20) — (271) — Minority contributions 209 — 386 2 Minority distributions (12) (19) (233) (232) Other - Net (38) 70 (148) (46) Other Investing/Financing Activities 96 9 1,195 (473) Net Cash Flow (202) 138 686 87 Effect of Exchange Rates/Other 5 (37) 39 (51) Net Change in Cash and Restricted Cash (196) 101 725 36

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$ in millions (1) Includes amortization of upfront license fees Reconciliation of Non-GAAP Financial Measures 04 APPENDIX BRIGHTSTAR EARNINGS REPORT - Q4'25 AND FY'2524 For the three months ended December 31, For the year ended December 31, 2025 2024 2025 2024 Income from continuing operations 92 116 135 271 Provision for income taxes 28 89 165 250 Interest expense, net 42 46 172 206 Foreign exchange (gain) loss, net (8) (75) 124 (52) Restructuring 7 — 28 39 Stock-based compensation — 7 15 38 Other expense, net 17 4 39 16 Adjusted EBIT 177 188 677 768 Income from continuing operations 92 116 135 271 Provision for income taxes 28 89 165 250 Interest expense, net 42 46 172 206 Foreign exchange (gain) loss, net (8) (75) 124 (52) Depreciation 46 44 182 171 Amortization - service revenue (1) 69 49 223 198 Amortization - non-purchase accounting 9 6 31 23 Amortization - purchase accounting 2 2 9 9 Restructuring 7 — 28 39 Stock-based compensation — 7 15 38 Other expenses, net 17 4 39 16 Adjusted EBITDA 304 290 1,121 1,170 Cash flows from operating activities - continuing operations (222) 174 (193) 709 Capital expenditures (76) (45) (316) (149) Free Cash Flow (298) 129 (509) 560

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Reconciliation of Non-GAAP Financial Measures - QTD All amounts presented are in $(1) Calculated based on nature of item, including any realizable deductions, and statutory tax rate in effect for the relevant jurisdiction (2) Includes the dilutive impact of share-based payment awards 04 APPENDIX BRIGHTSTAR EARNINGS REPORT - Q4'25 AND FY'2525 For the three months ended December 31, For the three months ended December 31, All amounts from continuing operations 2025 2024 Pre-Tax Impact Tax Impact (1) Net Impact Pre-Tax Impact Tax Impact (1) Net Impact Reported EPS from continuing operations attributable to Brightstar Lottery PLC - diluted 0.32 0.40 Adjustments: Foreign exchange (gain) loss, net (0.04) — (0.04) (0.37) 0.01 (0.38) Amortization - purchase accounting 0.01 — 0.01 0.01 — 0.01 Loss on extinguishment and modifications of debt, net 0.05 0.01 0.04 — — — Discrete tax items — — — — (0.18) 0.18 Restructuring 0.03 0.01 0.02 — 0.01 (0.01) Other (non-recurring adjustments) 0.01 — 0.01 0.01 — 0.01 Net adjustments 0.04 (0.19) Adjusted EPS from continuing operations attributable to Brightstar Lottery PLC - diluted 0.36 0.22 Reported effective tax rate 23.2 % 43.4 % Adjusted effective tax rate 25.2 % 42.1 % Adjusted EPS weighted average shares outstanding (in millions) 191 (2) 204 (2)

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Reconciliation of Non-GAAP Financial Measures - YTD All amounts presented are in $(1) Calculated based on nature of item, including any realizable deductions, and statutory tax rate in effect for the relevant jurisdiction (2) Includes the dilutive impact of share-based payment awards 04 APPENDIX BRIGHTSTAR EARNINGS REPORT - Q4'25 AND FY'2526 For the year ended December 31, For the year ended December 31, All amounts from continuing operations 2025 2024 Pre-Tax Impact Tax Impact (1) Net Impact Pre-Tax Impact Tax Impact (1) Net Impact Reported EPS from continuing operations attributable to Brightstar Lottery PLC - diluted (0.01) 0.57 Adjustments: Foreign exchange (gain) loss, net 0.62 (0.04) 0.66 (0.25) 0.02 (0.27) Amortization - purchase accounting 0.04 0.01 0.04 0.05 0.01 0.03 Loss on extinguishment and modifications of debt, net 0.09 0.01 0.08 — — — Discrete tax items — — — — (0.19) 0.19 Restructuring 0.14 0.04 0.10 0.19 0.06 0.13 Other (non-recurring adjustments) 0.05 0.01 0.04 0.03 — 0.02 Net adjustments 0.91 0.10 Adjusted EPS from continuing operations attributable to Brightstar Lottery PLC - diluted 0.91 0.67 Reported effective tax rate 55.0 % 48.0 % Adjusted effective tax rate 35.2 % 44.3 % Adjusted EPS weighted average shares outstanding (in millions) 199 (2) 204 (2)

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