• Aristocrat to implement $750M on-market share buyback
• Follows completion of previous $1.85B buyback program
• Leverage below target ratio, enabling investment and returns to shareholders

Aristocrat Leisure Limited (ASX: ALL) today announced that it will implement an on-market share buy-back program of up to A$750 million, as a continuation of its proactive capital management strategy. This follows the completion of the previous A$1.85 billion on-market share buy-back program in January 2025. Following receipt of US$600 million in proceeds from the sale of Plarium Global Limited earlier this month, and given ongoing strong business performance and cash flow, Aristocrat's leverage has continued to trend below its targeted net debt leverage ratio. This provides the opportunity to continue to invest strongly in growth initiatives, including strategic M&A, while also returning cash to shareholders through dividends and the on-market share buy-back program. The program will be conducted on an opportunistic basis. Additionally, Aristocrat intends to use a portion of the proceeds from the sale of Plarium to repay its US$250 million Term Loan B debt facility by the end of March 2025, ahead of its 24 May 2029 maturity. Aristocrat Chief Executive Officer & Managing Director Trevor Croker stated that the robust balance sheet and strong cash flow generation enable the company to reinvest in the business and continue to return cash to shareholders via dividends and share buy-backs. Upon completion of the program announced today, Aristocrat will have returned A$2.6 billion to shareholders via share buy-backs.

Aristocrat will actively assess growth opportunities, including strategic acquisitions and investment in organic initiatives, on an ongoing basis.