• Strong execution and game performance building momentum, delivering 78% net income growth and 25% adjusted NPATA growth
• Disciplined execution across digital businesses with iGaming delivering record results and SciPlay continuing expansion of direct-to-consumer revenue
• Returned $111 million of capital to shareholders through share repurchases during the quarter

Light & Wonder delivered another quarter of strong earnings and cash flows underpinned by disciplined execution and game performance, while continuing to advance its robust content roadmap and cross-platform strategy. Consolidated revenue increased by 3% to $841 million, while net income rose 78% to $114 million, driving net income per share up 89% to $1.34. Consolidated AEBITDA grew 18% to $375 million, and adjusted NPATA increased 25% to $153 million, or 35% on a per share basis to $1.81. Gaming revenue grew 4% to $558 million, driven by a 38% increase in Gaming operations revenue. iGaming delivered quarterly record revenue with AEBITDA margin expansion, while SciPlay continued to grow direct-to-consumer revenue. The company generated $184 million in net cash provided by operating activities and $136 million in free cash flow, representing 55% and 64% year-over-year growth, respectively. The company returned $111 million to shareholders through share repurchases during the quarter and an additional $101 million subsequent to the third quarter through October 31, 2025, which brought it to approximately 51% utilization of its authorized $1.5 billion share repurchase program. The company also successfully extended certain debt maturities from 2028 to 2033 while lowering the interest rate.

The company maintains its full-year 2025 financial outlook, with Consolidated AEBITDA guidance range between $1.43 billion and $1.47 billion, and Adjusted NPATA guidance range between $550 million and $575 million.

The company is in the process of moving from its current dual listing on Nasdaq and the ASX to a sole primary listing on the ASX, and it is on schedule to complete this transition with the previously announced timeline on October 13, 2025, subject to applicable U.S. and Australian regulatory, and other third-party, approvals and processes.