• Wholly-owned subsidiary Light and Wonder International, Inc. prices $1 billion in senior unsecured notes due 2033
• Proceeds will be used to repay revolving credit facility, redeem existing 2028 notes, and for general corporate purposes
• Notes will be guaranteed by Light & Wonder and certain subsidiaries

Light & Wonder, Inc. (NASDAQ and ASX: LNW) announced that its wholly owned subsidiary, Light and Wonder International, Inc. ('LNWI'), has priced $1 billion in aggregate principal amount of 6.250% senior unsecured notes due 2033 (the 'Notes'), at an issue price of 100.000%, in a previously announced private offering. LNWI intends to use the net proceeds of this offering (i) to repay all outstanding borrowings under its revolving credit facility, (ii) to redeem all $700.0 million of LNWI's outstanding aggregate principal amount of its 7.000% senior unsecured notes due 2028 (the '2028 Notes'), including related fees and expenses, and (iii) to use any remaining net proceeds for general corporate purposes, which may include repurchases of the Company's equity. The Notes will be guaranteed on a senior basis by Light & Wonder and certain of its subsidiaries, and the Notes will not be secured. The offering is currently expected to close on September 24, 2025, subject to customary conditions.