Mr. Matevz Mazij reports

BRAGG GAMING ANNOUNCES SELECT PRELIMINARY UNAUDITED FOURTH QUARTER AND FULL YEAR 2025 FINANCIAL RESULTS, AND ISSUES FULL YEAR 2026 GUIDANCE

Bragg Gaming Group Inc.'s preliminary unaudited financial results for the year ended Dec. 31, 2025, are expected to come within its previously issued guidance ranges for both revenue and adjusted EBITDA (earnings before interest, taxes, depreciation and amortization).

The company anticipates the fourth quarter and full-year 2025 financial results to include the following highlights:

• Fourth quarter 2025 revenues to be approximately 27.7 million euros, an increase of 1.8 per cent from 27.2 million euros in the fourth quarter of 2024, and adjusted EBITDA to be approximately 4.6 million euros (representing an adjusted EBITDA margin of approximately 16.6 per cent), compared with 4.7 million euros (representing an adjusted EBITDA margin of approximately 17.2 per cent) in the fourth quarter of 2024; high-margin proprietary content revenue grew by 70 per cent in Q4 2025 over Q4 2024, primarily driven by growth in the United States;
• Full-year 2025 revenues to be approximately 106.1 million euros, an increase of 4.0 per cent from 102 million euros in 2024, and adjusted EBITDA to be approximately 16.6 million euros (representing an adjusted EBITDA margin of approximately 15.6 per cent), compared with 15.8 million euros (representing an adjusted EBITDA margin of approximately 15.5 per cent) in 2024. The company notes that, excluding the Netherlands, given its challenging regulatory environment, expected 2025 revenues would represent an 18-per-cent increase from 2024, driven by the company's performance in Brazil and the United States.

These figures are preliminary and unaudited, and actual revenues, adjusted EBITDA and adjusted EBITDA margin may differ. Bragg is providing this information at this time because of planned investment community meetings to be held ahead of the release of its fourth and full-year 2025 financial results and conference call in March, 2026.

Anticipated financial highlights for 2026:

• Revenue guidance: Revenue for the year ended Dec. 31, 2026, is expected to be in the range of 97 million euros to 104.5 million euros, despite Bragg anticipating that it will have to continue navigating increasingly complex regulatory compliance requirements and recent tax changes in the Netherlands and other regions in which the company operates.
• Adjusted EBITDA guidance: adjusted EBITDA for the year ended Dec. 31, 2026, is forecasted to be in the range of 16 million euros to 19 million euros (representing an adjusted EBITDA margin of approximately 16.0 per cent to 18.0 per cent), supported by factors, which include a continuing shift toward higher-margin product offerings and the structural cost savings expected from Bragg's recently announced initiative to utilize artificial intelligence (AI) to drive cost-efficiencies and improve operational excellence.

Matevz Mazij, chief executive officer for Bragg, commented: "Based on the preliminary results, we delivered another record year in 2025, as demonstrated by increased revenue and higher adjusted EBITDA. Now in 2026, we remain confident in our ability to successfully navigate evolving international regulatory and taxation developments, continue to increase our overall content market share in Brazil and the United States, aggressively pursue emerging alternative markets, such as historical and live racing and prediction markets, and move into new jurisdictions that offer opportunities for higher-margin content business. At the same time, we plan on thoughtfully harnessing the power of the Bragg AI brain to reduce our overall cost structure, drive EBITDA growth and move toward sustained net profitability. We look forward to updating investors as we progress."

About Bragg Gaming Group Inc.

Bragg Gaming Group is a leading i-gaming content and platform technology solutions provider serving on-line casino, sports betting and lottery operators with its proprietary, exclusive and aggregated casino games content and its cutting-edge player account management (PAM) and player engagement technology. Bragg Studios offer high-performing and passionately crafted casino game titles using the latest in data-driven insights from in-house brands including Wild Streak Gaming, Atomic Slot Lab and Indigo Magic. Its proprietary content portfolio is complemented by a selection of exclusive titles from carefully selected casino games studio partners under the Powered by Bragg program. Games built on Bragg's remote games server (RGS) technology are distributed through the Bragg Hub content delivery platform and are available exclusively to Bragg customers. Bragg's powerful, modular PAM technology powers multiple leading i-gaming brands and is supported by expert in-house managed, operational and marketing services. On-line casino games and products delivered through the Bragg Hub, either exclusively or from Bragg's extensive aggregated casino games portfolio, are managed from a single back office with a cutting-edge data platform and Bragg's award-winning Fuze player engagement tool set. Bragg is licensed, certified, or otherwise approved and operational in over 30 regulated i-gaming markets globally, including in the United States. Canada, Latin America and Europe.

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