IGT REPORTS THIRD QUARTER 2022 RESULTS

11/8/2022 Consolidated revenue of $1.06 billion, up 8% as reported and 14% at constant currency, with contributions from each segment including over 30% growth in Global Gaming Operating income of $211 million; operating income margin of 20% at high end of outlook Adjusted EBITDA of $402 million reects robust Global Lottery protability and strong increase from Global Gaming Received €700 million in gross proceeds from sale of Italian proximity payments business; completed acquisition of iSoftBet, a leading iGaming content provider and third-party aggregator, for approximately €160 million Net debt leverage improves to 3.1x, the lowest level in Company history $224 million returned to shareholders via dividends and share repurchases through mid-October, a record level in a scal-year period Targeting upper half of full-year 2022 outlook range LONDON, Nov. 8, 2022 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE:IGT) today reported nancial results for the third quarter ended September 30, 2022. Today, at 8:00 a.m. EST, management will host a conference call and webcast to present the results; access details are provided below. "IGT's organization along three business segments enables our teams to be focused on developing and delivering best-in-class products and services," said Vince Sadusky, CEO of IGT. "The accomplishments are evidenced in accelerated revenue and prot expansion in the third quarter, achieving the top-end of our margin outlook. Customer and player demand trends remain encouraging and IGT's suite of innovative products and solutions has never been better. In addition, we reached the lowest debt leverage in the Company's history, while returning a record $224 million in capital to shareholders so far this year." "Our strategy to innovate, optimize, and grow is fueling progress across the portfolio," said Max Chiara, CFO of IGT. "Robust year-to-date cash ows and proceeds from the sale of the Italy proximity payments/commercial 1services business, in addition to proactive liability management, enabled us to reduce debt to the lowest level ever. This enhanced credit prole provides greater nancial exibility to execute on the broadened, balanced capital allocation strategy presented at the Investor Day last November."

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Key Highlights: Completed acquisition of iSoftBet, a leading iGaming content provider and third-party aggregator, for approximately €160 million in cash in July 2022 Successfully completed sale of Italian proximity payments/commercial services business in September 2022 2for gross proceeds of €700 million Strengthened Lottery contract portfolio with four-year extension in New York and seven-year extension in Georgia as primary technology supplier, and a new 10-year instant ticket printing and services contract in Texas Signed agreement with Santa Casa de Misericórdia de Lisboa to deliver up to 7,200 Retailer Vue™ lottery terminals in Portugal Award-winning Resort Wallet™ and IGTPay™ cashless gaming solutions deployed enterprise-wide at Station Casinos properties in Las Vegas and at Indigo Sky Casino in Oklahoma Innovative products and solutions recognized with recent industry awards including "Best Slot Product" for Prosperity Link™ video slot game in the 2022 GGB Gaming & Technology Awards and "Land-Based Product of the Year" for PeakBarTop™ with Sports Betting at 2022 Global Gaming Awards Las Vegas Expanded IGT's sports betting leadership in Washington State via multi-year contract with Nisqually Red Wind Casino, leveraging IGT's full turnkey solution Recognized as the top-ranking gaming supplier by the All-In Diversity Project (AIDP) Financial Highlights: Consolidated revenue of $1.06 billion increased 8%, or 14% at constant currency, from $984 million in the prior year Global Lottery revenue of $626 million, down 4% but up 4% at constant currency, primarily driven by strong, multi-jurisdictional jackpot activity Global Gaming revenue rose to $379 million, up 31% as reported and 34% at constant currency on signicant increases in machine shipments, average selling prices, installed base yields, and intellectual property and multi-year poker site licenses Digital & Betting revenue increased 27%, 34% at constant currency, to $54 million, primarily driven by iCasino with contributions from the iSoftBet acquisition, new markets in North America, and organic growth Operating income of $211 million consistent with the prior-year period, up 9% at constant currency Global Lottery operating income of $211 million, down 10% as reported and stable at constant currency, with strong 34% operating income margin despite lower Italy contribution and increased investment in research and development Global Gaming operating income more than doubled to $65 million on signicant operating leverage, partially oset by increased supply chain costs Digital & Betting operating income of $12 million was relatively consistent with the prior year despite continued investments to fund growth Corporate support and other expense of $76 million, up from $66 million in the prior year, driven by higher transaction-related expenses Adjusted EBITDA of $402 million, stable as reported and up 7% at constant currency Net interest expense of $73 million compared to $79 million in the prior year, driven by lower average debt 3balances Foreign exchange gain of $37 million, up from $6 million, primarily reecting the impact of uctuations in the EUR/USD exchange rate on debt Other non-operating income of $139 million versus non-operating expense of $1 million in the prior-year period, primarily driven by gain on sale of business and a $120 million incremental accrual associated with the DDI/Benson matter Income tax provision of $21 million compared to $37 million in the prior year, primarily driven by discrete tax benet arising from the DDI/Benson matter Income from continuing operations of $294 million versus $101 million in the prior-year period, driven by gain on sale of business, higher foreign exchange gains, a decrease in income taxes and cost of debt, partially oset by accrual related to the DDI/Benson matter and loss on extinguishment of debt Net debt of $5.1 billion compared to $5.9 billion at December 31, 2021; Net debt leverage of 3.1x, down from 3.5x at December 31, 2021 Cash and Liquidity Update Total liquidity of $2.2 billion as of September 30, 2022; $0.4 billion in unrestricted cash and $1.8 billion in additional borrowing capacity from undrawn credit facilities Successfully completed a partial tender of certain Senior Secured Notes, repurchasing $400 million of 6.500% Notes due 2025 and €200 million of 3.500% Notes due 2024 Other Developments The Company's Board of Directors declared a quarterly cash dividend of $0.20 per common share Ex-dividend date of November 25, 2022 Record date of November 28, 2022 Payment date of December 9, 2022 Repurchased 2.0 million shares for $39 million in the third quarter at an average price of $19.35 per share and an incremental 0.6 million shares repurchased for $10 million through mid-October; 4.7 million shares repurchased on a year-to-date basis through mid-October for $103 million at an average price of $21.52 per share Completed the purchase of iSoftBet in July 2022 and sale of Italian proximity payments/commercial services business in September 2022 Reached an agreement in principle to settle the Benson v. DoubleDown Interactive LLC, et. al. lawsuit and 4associated proceedings; the agreement remains contingent upon court approval by the U.S. Federal District Court for the Western District of Washington Introducing Fourth Quarter 2022 Expectations; Targeting Upper Half of Full-Year 2022 Outlook Range Fourth Quarter Revenue of approximately $1.0 billion Operating income margin of 18% - 19% includes approximately 150 - 200 basis point impact from iSoftBet acquisition step-up amortization, project-related costs, and restructuring expenses Assumes EUR/USD exchange rate of 1.00 Full Year Revenue of $4.1 billion - $4.2 billion Operating income margin of 20% - 22% Cash from operations of $850 - $950 million Capital expenditures of approximately $350 million