===== SIDA 1 ===== Q1 report 2026 Page 1 May 20, 2026 Better Collective A/S Sankt Annæ Plads 28 1250 Copenhagen (DK) bettercollective.com CVR NO.: 27 65 29 13 ===== SIDA 2 ===== Q1 report 2026 Page 2 Q1 25 Q1 26 83 86 +5% Q1 25 Q1 26 22 25 +14% +9% c.c. Revenue mEUR EBITDA before special items mEUR INTERIM REPORT Q1, 2026 • Revenue of 86 mEUR, organic growth 5%, 9% in constant curren- cies (c.c.) • EBITDA before special items 25 mEUR, growth 14%, 29% margin • Revenue share income from the North American market grew 46% • Playbook partnership with X expanded to global partnership fol- lowing strong North American traction • Full year guidance remains unchanged ===== SIDA 3 ===== Q1 report 2026 Page 3 Our vision Q1 report 2026 Page 3 Our vision is to become the leading digital sports media group; Better Collective owns and operates global and national sports media, sports betting media, and Esports & gaming communities. We are on a mission to excite fans and foster passionate communities worldwide. Our House of Brands attracts more than 112 million unique users, generating more than 450 million sessions and 2.7 billion pageviews a month. Our combined offerings include everything from quality sports content, communities, data insights, and apps, to video content, podcast, and innovative technology. ===== SIDA 4 ===== Q1 report 2026 Page 4 ===== SIDA 5 ===== Q1 report 2026 Page 5 Highlights Q1 6 Financial targets 9 Financial highlights and key figures 10 CEO letter 11 Business review and financial performance 13 Financial performance for the period 21 Other 23 Statement by the Board of Directors and the Executive Management 25 Condensed interim financial statements for the period 26 Notes 31 Parent Company 40 A live webcast and presentation for Better Collective’s stakeholders will be held on May 21st, 2026, at 10:00 CET and can be joined online here. To participate by phone, follow this link. Once signed up, you will receive an email with a phone number and a per- sonal dial-in code for the call. The presentation material for the webcast will be avail- able after market close on May 20 th, 2026, via: www.bettercollective.com Upcoming events • Q2 report – August 20th, 2026 • Q3 report – November 18th, 2026 • Annual report 2026 – February 24th, 2027 • Q1 report – May 19th, 2027 Table of contents Q1 webcast May 21st, 2026 Q1 report 2026 Page 5 ===== SIDA 6 ===== Q1 report 2026 Page 6 Highlights Q1 The financial guidance for full -year 202 6 remains un- changed. Revenue increased organically by 5%, or 9% in constant currencies. The quarter saw the following key drivers: 1. FX movements had a negative year-over-year rev- enue impact of 4 mEUR, mainly driven by the USD. 2. Sports win margin impacted revenue and EBITDA negatively with 1.3 mEUR versus last year and 3.7 mEUR versus the normalized margin. 3. The Brazilian market continued to show minor neg- ative effects following broader regulatory changes which impacted the quarter by around 1 mEUR. 4. Underlying growth of 9 mEUR was primarily driven by strong performance in Paid Media and Talent - led Media as well as North American revenue share growth. Recurring revenue increased by 2% to 50 mEUR, driven by 7% growth in revenue share income, primarily sup- ported by strong performance in Paid Media and contin- ued growth in North American revenue share. Since Q3 2022, Better Collective has been transitioning the North American business towards revenue share agreements. While this transition has temporarily damp- ened reported revenue, it has established a strong foundation for future recurring revenue to be recog- nized in the coming quarters and years. During Q1, revenue share income in North America con- tinued to develop positively, increasing by 46% to 6 mEUR. Management expects revenue share income in North America to continue growing steadily over time, supporting a more stable and higher -quality recurring revenue base, in line with the established model in other regions. Sponsorship revenue increased by 21%, driven by strong development in Playmaker HQ and HLTV. Better Collec- tive continues to see significant future growth potential in these businesses, further supporting the diversifica- tion of the revenue base. Better Collective expanded its strategic partnership with X. Playbook™ is named the exclusive global AI bet- ting product. Under the new agreement, Better Collec- tive’s AI-powered betting solution, Playbook™, becomes the official and exclusive global betting product on X. The expanded partnership builds on the successful launch in the United States and introduces a suite of en- hanced product features. On January 9, Better Collective held an Extraordinary General Meeting, where the cancellation of 5.17% of the share capital was approved. Following the cancellation, Better Collective flagged below 5% ownership of its own shares. Following the Annual Report, Better Collective initiated a new share buyback program of up to 40 mEUR, to be executed during the period from March 5, 2026 , to March 3, 2027. On February 2, Better Collective announced that it had received notification from Lind Invest that Lind Value II ApS held 6.53% of the share capital and voting rights in Better Collective, hence flagging above the 5% thresh- old. On March 6, Better Collective announced that it had re- ceived notification from Triton Administration (Jersey) Limited that it had indirectly acquired 3,076,663 shares and voting rights in Better Collective, corresponding to approximately 5.24% of the total issued share capital and voting rights, hence flagging above the 5% thresh- old. The shares are held directly by Bolero Holdings SARL. On March 19, Better Collective announced the strategic rollout of prediction market-focused content and prod- ucts targeting the rapidly growing U.S. user base. The initiative represents an important step in Better Collec- tive’s ambition to position itself at the forefront of a new and fast-emerging entertainment category. Costs increased by 1%, driven by cost efficiencies in Pub- lishing and Esports, partly offset by a 9% increase in Paid Media spend during the quarter. The higher Paid Media Revenue 9 mEUR Q1 25 (4 mEUR) FX (1 mEUR) Brazil (1 mEUR) SWM Growth Q1 26 83 mEUR 86 mEUR ===== SIDA 7 ===== Q1 report 2026 Page 7 spend reflects Management’s continued confidence in the growth trajectory and attractive return profile of the business. EBITDA before special items amounted to 25 mEUR, corresponding to growth of 14% and a margin of 29%. Cash flow from operations before special items was 25 mEUR (Q1 2025: 21 mEUR) with a cash conversion of 101% in Q1 2026. In line with Better Collective ’s capital allocation policy, the company remains committed to delivering sustaina- ble shareholder returns while maintaining the financial flexibility to pursue long -term growth opportunities. During the period, Better Collective completed 6.7 mEUR of share buybacks, in line with the same period in 2025. The program reflects the Grou p’s disciplined ap- proach to capital allocation, balancing investments in organic growth, strategic business development includ- ing M&A, and direct shareholder returns. Better Collective has bank credit facilities for a total of 319 mEUR. By the end of March 2026, capital reserves stood at 75 mEUR consisting of cash of 20 mEUR and unused bank credit facilities of 55 mEUR. Q1 report 2026 Page 7 EBITDA before special items 22 mEUR 25 mEUR 3 mEUR 2 mEUR Q1 25 Revenue growth Increased Paid Media spend Cost reductions Q1 26 (2 mEUR) ===== SIDA 8 ===== Q1 report 2026 Page 8 New Depositing Customers growth QoQ New Depositing Customers ( NDCs) developed in line with expectations. For the quarter, the total number of NDCs was 308,000, of which 77% were on revenue share contracts, up from 73% in Q4 2025. The total number of NDCs were broadly flat versus both last year and last quarter. Activity levels remained impacted by the regu- latory changes in Brazil, where the prohibition of wel- come bonuses has redirected many users to unlicensed sportsbooks. In addition, the broader regulatory changes in Brazil continued to impact performance neg- atively during the quarter. Value of Deposits Introduced as an external KPI in Q2 2025, Value of De- posits (VoD) measures the total amount deposited into revenue share accounts by referred users across partner platforms during the period. The KPI provides a clear in- dication of traffic quality and player value. The contin- ued positive development of VoD underscores Better Collective’s ability to deliver high-quality audience, with referred players demonstrating increasing lifetime value despite lower NDC volumes. This reflects Better Collec- tive’s strategic focus on attracting higher-value custom- ers for its partners. For clarity , VoD represents deposits generated within the quarter and is not a cumulative metric. During Q1, Value of Deposits reached 799 mEUR, repre- senting 15% growth compared to Q1 last year. This con- tinued strong development demonstrates the increasing lifetime value of referred customers and confirms the underlying strength and health of the revenue share da- tabases. 200 400 600 0 Q1 2020 Q2 Q3 Q4 Q1 2021 Q2 Q3 Q4 Q1 2022 Q3 Q4 Q1 2023 Q2 Q3 Q4 Q1 2024 Q2 Q3 Q4 Q1 2025 Q2 Q3 Q4 Q1 2026 Q2 NDC development (’000 NDCs) VoD development (mEUR) 200 400 600 800 0 Q1 2020 Q2 Q3 Q4 Q1 2021 Q2 Q3 Q4 Q2 Q3 Q4 Q1 2023 Q2 Q3 Q4 Q1 2024 Q2 Q3 Q4 Q1 2025 Q2 Q3 Q4 Q1 2026 Q1 2022 ===== SIDA 9 ===== Q1 report 2026 Page 9 Financial targets 2026 guidance Guidance for 2026 is unchanged as follows: • Organic revenue growth 7-12% • EBITDA before special items growth 8-18% • Annual share buybacks of 40 mEUR • Net debt to EBITDA below 3x 2026 guidance implications The year will benefit from normalized year -over-year comparisons versus 2025, and management expects un- derlying growth across all business segments, including Publishing, Paid Media, and Esports. In addition, the FIFA World Cup will take place during the summer across several of Better Collective’ s core markets, providing a meaningful tailwind to user acqui- sition, reactivation, and overall activity levels. The UK and Brazilian tax increases are expected to neg- atively impact EBITDA before special items by approxi- mately 8 mEUR. The Board of Directors has decided to guide for an an- nual 40 mEUR share buybacks. Net debt to EBITDA is to stay below 3x. 2027-2028 Guidance • Organic revenue growth • EBITDA-margin before special items at 35-40% • Continued strong cash conversion • Net debt to EBITDA below 3x Capital allocation policy • Reduction of net interest-bearing debt when lev- erage exceeds 3x net debt/EBITDA level. • Investments in organic growth initiatives and se- lective, value-accretive acquisitions. • Distribution to shareholders, primarily through share buybacks, secondarily, dividends. Disclaimer This report contains certain forward-looking statements and opinions. Forward -looking statements are state- ments that do not relate to historical facts and events. Such statements or opinions pertaining to the future, for example, wording like; “believes”, “deems”, “estimates”, “anticipates”, “aims’, and “forecasts” or similar expres- sions are intended to identify a statement as forward - looking. This applies to statements and opinions con- cerning the future financial returns, plans, and expecta- tions with respect to the business and management of Better Collective, future growth, profitability, general economic and regulatory environment, and other mat- ters affecting Better Collective. Forward-looking statements are based on current esti- mates and assumptions made according to the best of Better Collective’s knowledge. These statements are in- herently associated with both known and unknown risks, uncertainties, and other factors that could cause the re- sults, including Better Collective ’s cash flow, financial condition, and operations, to differ materially from the results, or fail to meet expectations expressly or implic- itly, assumed or described in those statements or to turn out to be less favorable than the results expressly or im- plicitly assumed or described in those statements. Bet- ter Collective can give no assurance regarding the future accuracy of the opinions set forth herein or as to the ac- tual occurrence of any predicted developments and/or targets. Considering the risks, uncertainties , and assumptions associated with forward-looking statements, it is possi- ble that certain future events may not occur. Moreover, forward-looking estimates derived from third -party studies may prove to be inaccurate. Actual results, per- formance or events may differ materially from those in such statements e.g. due to changes in general eco- nomic conditions, in particular economic conditions in the markets in which Better Collective operates, changes affecting interest rate levels, changes affecting currency exchange rates, changes in competition levels, changes in laws and regulations, and occurrence of ac- cidents or environmental damages and systematic de- livery failures. We undertake no obligation to update or revise any for ward-looking statements, whether be- cause of new information, future events , or otherwise, except to the extent required by law. ===== SIDA 10 ===== Q1 report 2026 Page 10 Financial highlights and key figures tEUR Q1 2026 Q1 2025 2025 Income statements Revenue 86,323 82,590 336,669 Recurring revenue 50,141 49,047 206,484 Operating profit before depreciation, amortization, and special items (EBITDA before special items) 25,086 22,005 102,053 Depreciation 1,706 1,965 6,864 Operating profit before amortization and special items (EBITA before special items) 23,380 20,041 95,189 Special items, net - 1,810 - 726 - 10,411 Amortization and impairment 8,591 8,556 33,807 Operating profit before special items (EBIT before special items) 14,789 11,485 61,382 Result of financial items - 2,538 - 5,777 - 19,790 Profit after tax 7,322 3,639 23,590 Earnings per share (in EUR) 0.12 0.06 0.41 Diluted earnings per share (in EUR) 0.12 0.06 0.39 Balance sheet Balance Sheet Total 1,092,349 1,139,042 1,074,121 Equity 639,537 672,744 631,004 Current assets 112,404 106,328 100,841 Current liabilities 64,400 67,358 62,671 Net interest bearing debt 257,696 248,101 258,428 For a definition of financial key figures and ratios, please refer to page 44-45. tEUR Q1 2026 Q1 2025 2025 Cash flow Cash flow from operations before special items 25,307 20,642 94,453 Cash flow from operations 23,246 18,692 81,595 Investments in tangible assets - 53 - 176 - 347 Cash flow from investment activities - 8,959 - 13,679 - 34,679 Cash flow from financing activities - 1,211 - 7,485 - 40,557 Financial ratios Revenue Growth (%) 5% -13% -9% Organic Revenue Growth (%) 5% -18% -11% Operating profit before depreciation, amortization (EBITDA) and special items margin (%) 29% 27% 30% Operating profit margin (%) 15% 13% 15% Publishing EBITDA before special items margin (%) 29% 29% 32% Paid media EBITDA before special items margin (%) 25% 22% 24% Esports EBITDA before special items margin (%) 62% 42% 53% Net interest bearing debt / EBITDA before special items 2.45 2.33 2.53 Cash conversion rate before special items (%) 101% 93% 92% Average number of full-time employees 1,582 1,688 1,600 NDCs (thousand) 308 316 1,200 ===== SIDA 11 ===== Q1 report 2026 Page 11 CEO letter With a return to growth in Q1, Better Collective continues to build long term value through disciplined execution, product innovation, and a stronger po- sition in the global sports eco- system We started 2026 with a solid first quarter and a return to organic growth of 5% or 9% in constant currencies, with performance broadly in line with our expectations. As always, our business reflects both the strength of our diversified model and the realities of operating in dy- namic and regulated markets. During the quarter, we continued to see encouraging progress in several stra- tegic areas, while navigating external factors that af- fected market sentiment and short-term performance in certain geographies. The growth was driven in particular by continued strong momentum in Paid Media, T alent- Led Media, North American revenue share, and our es- port community, HLTV. Diving into one area where developments continue to be particularly encouraging is prediction markets. This category is performing ahead of our expectations, both in terms of user interest and commercial traction. At the same time, competition among our customers to attract users is gradually intensifying. This is beneficial for Bet- ter Collective and fully in line with our expectations for an attractive and expanding market. We expect addi- tional players to enter the field throughout the year, and we view th is as further evidence of the size and rele- vance of the opportunity. Better Collective is well posi- tioned to benefit from this development through our strong sports audience reach, our commercial capabili- ties, and our ability to connect users with relevant and trusted offerings across fast evolving sports - and sports-related categories. Another strategic priority where we continue to make important progress is Playbook ™. During the quarter, Playbook™ advanced further across user engagement, product development and commercialization . We are particularly excited to continue and expand our strate- gic partnership with X, which now includes a new global agreement and an enhanced product scope, including the introduction of Playbook ™ directly into Direct Mes- saging on X. Over time, we believe Playbook ™ can become a core platform for sports bettors worldwide: one that stream- lines the path from intent to action, reduces friction in the user journey, improves discovery, and makes it eas- ier for users to compare outcomes and find the best available offer in the market. In that sense, Playbook™ is positioned at the intersection of media, product, and monetization and reflects how Better Collective is evolving its role in the value chain. Rather than only di- recting traffic, we are increasingly building products that improve the user experience itself and deepen our relevance to both users and partners. This is strategically important. The future winners in our industry will not only be those with reach, but those that can create better user journeys, stronger engagement loops, and more valuable commercial ecosystems around their audiences. Playbook™ is a strong example of that ambition in action. It allows us to participate more directly in product innovation around sports bet- ting, while at the same time strengthening partner value through improved conversion quality, retention poten- tial, and differe ntiated distribution. We remain highly excited about the long-term potential of Playbook™ and believe it can become an increasingly important part of how we create value in the decade ahead. Another good example is our talent -led media Play- maker HQ. Since acquiring the business in 2023, it has developed into an increasingly important brand within our North American portfolio and is now performing very well both operationally and commercially . While the transaction was structured with a disciplined finan- cial rationale, ensuring that growth and value creation were closely aligned, the true significance of Playmaker HQ lies in its business model differentiation. By leaning into a talent -led, video-first narrative, we are defining the future of media. With the leading network of North American talent-led sports media podcast shows, Play- maker HQ significantly strengthens our position within the entire sports ecosystem and elevates our value proposition toward partners, as we offer authentic en- gagement that traditional models cannot replicate. Playmaker HQ has expanded its talent roster, strength- ened its position in the North American sports podcast landscape, and built a highly attractive commercial plat- form around unique content generated by some of the biggest North American sports names. We are seeing strong and consistent demand for its shows, not only from sportsbook partners, but also from a broader group of blue -chip brands seeking brand exposure to highly engaged sports audiences. Strategically, this is important as it demonstrates our ability to identify, acquire, and scale premium sports media brands in attractive markets , and s econdly, it highlights one of Better Collective’s core strengths: our ability to monetize sports audiences at scale through a differentiated commercial platform spanning both sports betting and broader brand advertising. In Brazil, market conditions remain muted. The absence of welcome bonuses continues to impact activity levels, while other regulatory changes have also affected mar- ket dynamics. More recently, a bill proposing a potential ban has added further uncertainty to sentiment. From our point of view, such an outcome appears unlikely, ===== SIDA 12 ===== Q1 report 2026 Page 12 that said, this type of public debate does not support confidence in the near term. Let me therefore restate our position clearly: we are supportive of sound and responsible regulation. Well - functioning regulation is essential to protect users from harmful behavior and bad actors, and to ensure that markets develop in a sustainable way. At the same time, all stakeholders, including sportsbooks, media compa- nies, and end users, benefit from having a stable, pre- dictable, and workable regulatory framework that also ensures taxes are paid locally. That is what allows regu- lated markets to perfor m well over time. Despite the current muted backdrop, we remain optimistic on Brazil over the long term. It is a large market with a deep - rooted passion for sport, and we continue to see mean- ingful structural potential as the market matures. As we enter the second quarter, we continue preparing for one of the largest business catalysts our industry has in front of it: the FIFA World Cup 2026. We have been preparing for this tournament for more than a year, and we are looking forward to what is expected to become the biggest sporting event ever. B eyond the significant commercial opportunity, it is also an event we are gen- uinely excited about as sports fans ourselves. Moments like these matter as they bring together global audi- ences in ways few o ther events can. We believe Better Collective is very well positioned to capture that oppor- tunity. In summary, Q1 was a quarter of stable growth execution and continued strategic progress. We delivered as we expected, with some underlying elements performing better than headline numbers suggest . We continue to navigate short term external headwinds in selected mar- kets, while investing in and advancing the initiatives that we believe will drive meaningful long term value crea- tion. I would like to thank our employees, partners, and all other stakeholders for their continued dedication, trust, and collaboration. I would also like to thank our share- holders for your continued support. Together, we have delivered another solid quarter, and we remain focused on executing on the many opportunities ahead. Jesper Søgaard Co-CEO & Co-Founder Q1 report 2026 Page 12 ===== SIDA 13 ===== Q1 report 2026 Page 13 Business review and financial performance Group The financial guidance for full -year 2026 remains un- changed. Revenue increased organically by 5%, or 9% in constant currencies. The quarter was impacted by the following key drivers: 1. FX movements had a negative year-over-year rev- enue impact of 4 mEUR, mainly driven by the USD. 2. Sports win margin impacted revenue and EBITDA negatively with 1.3 mEUR versus last year and 3.7 mEUR versus the normalized margin. 3. The Brazilian market continued to show minor neg- ative effects following broader regulatory changes which impacted the quarter by around 1 mEUR. 4. Underlying growth of 9 mEUR was primarily driven by strong performance in Paid Media and Talent - led Media as well as North American revenue share growth. On a constant currency basis, revenue share would have increased by 9% compared to 7% reported, CPA revenue would have increased 5% compared to a reported de- cline of 1%, subscription revenue would have declined by 5% compared to a reported decline of 12%, sponsorship revenue would have increased by 29% compared to 21% reported, and CPM revenue would have declined by 6% compared to a reported decline of 13%. Recurring revenue increased by 2% to 50 mEUR, driven by 7% growth in revenue share income, primarily sup- ported by strong performance in Paid Media and contin- ued growth in North American revenue share. Since Q3 2022, Better Collective has been transitioning the North American business towards revenue share agreements. While this transition has temporarily damp- ened reported revenue, it has established a strong foun- dation for future recurring revenue to be recognized in the coming quarters and years. During Q1, revenue share income in North America con- tinued to develop positively, increasing by 46% to 6 mEUR. Management expects revenue share income in North America to continue growing steadily over time, supporting a more stable and higher -quality recurring revenue base, in line with the established model in other regions. Sponsorship revenue increased by 21%, driven by strong development in Playmaker HQ and HLTV. Better Collec- tive continues to see significant future growth potential in these businesses, further supporting the diversifica- tion of the revenue base. Better Collective expanded its strategic partnership with X. Playbook™ is named the exclusive global AI bet- ting product. Under the new agreement, Better Collec- tive's AI-powered betting solution, Playbook™, becomes the official and exclusive global betting product on X. The expanded partnership builds on the successful launch in the United States and introduces a suite of en- hanced product features. Costs increased by 1%, driven by cost efficiencies in Pub- lishing and Esports, partly offset by a 9% increase in Paid Media spend during the quarter. The higher Paid Media spend reflects Management’s continued confidence in the growth trajectory and attractive return profile of the business. EBITDA before special items amounted to 25 mEUR, corresponding to growth of 14% and a margin of 29%. Cash flow from operations before special items was 25 mEUR (Q1 2025: 21 mEUR) with a cash conversion of 101% in Q1 2026. Key figures for the group tEUR Q1 2026 Q1 2025 Growth 2025 Revenue Share 39,518 36,895 7% 157,484 CPA 21,392 21,501 -1% 80,040 Subscription 4,331 4,924 -12% 18,031 Sponsorships 14,216 11,772 21% 48,781 CPM 6,291 7,228 -13% 30,969 Other 575 270 113% 1,364 Revenue 86,323 82,590 5% 336,669 Cost 61,237 60,585 1% 234,616 Operating profit before depreciation and amortization and special items 25,086 22,005 14% 102,053 EBITDA-Margin before special items 29% 27% 30% Operating profit before depreciation and amortization 23,276 21,280 9% 91,642 EBITDA-Margin 27% 26% 27% Organic Growth 5% -18% -11% ===== SIDA 14 ===== Q1 report 2026 Page 14 In line with Better Collective ’s capital allocation policy, the company remains committed to delivering sustaina- ble shareholder returns while maintaining the financial flexibility to pursue long -term growth opportunities. During the period, Better Collective completed 6.7 mEUR of share buybacks, in line with the same period in 2025. The program reflects the Grou p’s disciplined ap- proach to capital allocation, balancing investments in organic growth, strategic business development includ- ing M&A, and direct shareholder returns. Better Collective has bank credit facilities for a total of 319 mEUR. By the end of March 2026, capital reserves stood at 75 mEUR consisting of cash of 20 mEUR and unused bank credit facilities of 55 mEUR. On January 9, Better Collective held an Extraordinary General Meeting, where the cancellation of 5.17% of the share capital was approved. Following the cancellation, Better Collective flagged below 5% ownership of its own shares. On August 27, 2025, Better Collective initiated a share buyback program of up to 20 mEUR, to be executed during the period from August 27, 2025 to March 4, 2026. As March 4, 2026, was the final trading day of the program, the share buyback program was completed. Following the Annual Report, Better Collective initiated a new share buyback program of up to 40 mEUR, to be executed during the period from March 5, 2026 to March 3, 2027. On February 2, Better Collective announced that it had received notification from Lind Invest that Lind Value II ApS held 6.53% of the share capital and voting rights in Better Collective, hence flagging above the 5% thresh- old. On March 6, Better Collective announced that it had re- ceived notification from Triton Administration (Jersey) Limited that it had indirectly acquired 3,076,663 shares and voting rights in Better Collective, corresponding to approximately 5.24% of the total issued share capital and voting rights, hence flagging above the 5% thresh- old. The shares are held directly by Bolero Holdings SARL. On March 19, Better Collective announced the strategic rollout of prediction market-focused content and prod- ucts targeting the rapidly growing U.S. user base. The initiative represents an important step in Better Collec- tive’s ambition to position itself at the forefront of a new and fast-emerging entertainment category. On March 24, Better Collective held its Annual General Meeting, where the Annual Report 2025 was approved. At the meeting, Thomas Plenborg was elected as the new Chair of the Board, succeeding Jens Bager, who de- cided to step down after more than a decade of service. Thomas Plenborg brings extensive experience to the role, currently serving as Professor at the Department of Accounting at Copenhagen Business School and as Chair of the Board of DSV. At DSV, he has played a piv- otal role in the company ’s transfo rmation from a re- gional player into a global leader in transport and logis- tics, while overseeing substantial shareholder value cre- ation and the execution and integration of large -scale acquisitions. On January 5, Better Collective- owned Mindway AI an- nounced a partnership with DraftKings to expand re- sponsible gaming tools and resources. Through Gama- lyze, DraftKings customers gain personalized insights designed to support more informed gaming decisions. ===== SIDA 15 ===== Q1 report 2026 Page 15 Publishing: Trusted content and brands engaging sports fans worldwide ===== SIDA 16 ===== Q1 report 2026 Page 16 Publishing Publishing revenue was up 1% in Q1 to 54 mEUR , or 6% in constant currencies. Revenue share grew by 4%, despite adverse FX move- ments and the impact from broader regulatory changes in Brazil. Sponsorship revenue increased by 19%, driven by strong performance across the Group’s talent-led sports media brands, spearheaded by Playmaker HQ. CPA revenue declined by 2 mEUR, or 25%, year -over- year, while the quarter -over-quarter development was flat and increased in constant currencies . The perfor- mance was driven by an increased mix of revenue share NDCs versus CPA as well as being positively impacted by prediction markets, which contributed well during the quarter. CPM revenue declined by 11 %, mainly reflecting a post- ponement of advertising spend ahead of the FIFA World Cup 2026, and foreign exchange headwinds. Subscription revenue declined by 0. 3 mEUR, or 7 %, mainly due to foreign exchange movements. Publishing costs slightly declined year-over-year, while operational earnings increased by 5% driven by effi- ciency gains in the organization. Key figures for the Publishing segment tEUR Q1 2026 Q1 2025 Growth 2025 Revenue Share 27,434 26,355 4% 110,995 CPA 5,402 7,197 -25% 19,950 Subscription 4,331 4,666 -7% 18,031 Sponsorships 11,193 9,433 19% 36,809 CPM 5,051 5,694 -11% 24,094 Other 575 270 113% 1,364 Revenue 53,986 53,614 1% 211,243 Share of Group 63% 65% 63% Cost 38,594 38,891 -1% 144,668 Share of Group 63% 64% 62% Operating profit before depreciation and amortization and special items 15,392 14,723 5% 66,575 Share of Group 61% 67% 65% EBITDA-Margin before special items 29% 27% 32% Operating profit before depreciation and amortization 13,937 13,998 0% 56,262 EBITDA-Margin 26% 26% 27% Organic Growth 1% -21% -16% Publishing The Publishing business generates revenue from Better Collective’s owned and oper- ated sports media network and its media partnerships. The audience mainly comes from direct traffic and organic search re- sults. *Selection of brands (not exhaustive): ===== SIDA 17 ===== Q1 report 2026 Page 17 Q1 report 2026 Page 17 ===== SIDA 18 ===== Q1 report 2026 Page 18 Paid Media Paid Media continued its strong growth trajectory in Q1, with revenue increasing by 12% to 28 mEUR or 17% in constant currencies. The growth was evenly distributed across revenue share and CPA revenue and was supported by a stronger - than-expected development in the UK ahead of the reg- ulatory changes effective from April 1, despite increased taxation and lower deposit values. The Paid Media division has developed proprietary AI models, which supported improved deposit values and are expected to drive further efficiencies and higher yields over time. Reflecting the underlying strength of the business, Man- agement continued to increase investments, with spend growing by 10% during the quarter. As Paid Media is fun- damentally driven by data modelling and return -based investment decisions, the increased spe nd reflects Management’s confidence in the scalability and attrac- tive return profile of the business. EBITDA before special items increased by 2 5% to 7 mEUR, demonstrating the operational scalability of the Paid Media business. Key figures for the Paid Media segment tEUR Q1 2026 Q1 2025 Growth 2025 Revenue Share 11,627 10,297 13% 45,441 CPA 15,983 14,284 12% 60,049 Subscription 0 0 0% 0 Sponsorships 0 0 0% 19 CPM 0 0 0% 0 Other 0 0 0% 0 Revenue 27,610 24,581 12% 105,510 Share of Group 32% 30% 31% Cost 20,845 19,152 9% 80,504 Share of Group 34% 32% 34% Operating profit before depreciation and amortization and special items 6,765 5,429 25% 25,006 Share of Group 27% 25% 25% EBITDA-Margin before special items 25% 22% 24% Operating profit before depreciation and amortization 6,410 5,429 18% 24,908 EBITDA-Margin 23% 22% 24% Organic Growth 12% -15% -1% Paid Media The Paid Media business involves pur- chasing advertising on search engines, so- cial media, and third-party sports media platforms. Because this requires upfront payments for advertising on external plat- forms, the gross margin is typically lower than that of the Publishing business, due to substantial direct costs, and may fluc- tuate with the level of activity and invest- ments into revenue share NDCs. However, Paid Media requires significantly lower balance sheet investment and a leaner op- erating setup, making it a highly asset- light business model. ===== SIDA 19 ===== Q1 report 2026 Page 19 Esports: Leading gaming communities connecting fans worldwide ===== SIDA 20 ===== Q1 report 2026 Page 20 Esports Esports revenue increased by 8% to 5 mEUR, marking a return to growth for the business. The development was supported by continued strong momentum in sponsor- ship revenue of 29%, reflecting continued solid demand for HLTV and its position as a leading esports commu- nity. CPM revenue declined by 31 %, primarily driven by weaker performance of the new EA FC title, which resulted in lower user traction and engagement on FUTBIN. Several initiatives , such as FanReach, have been initiated to mitigate this development and support future monetization. Costs decreased by 2 9% during the quarter, supported by improved operational leverage and lower -than-ex- pected marketing spend. As a result, EBITDA before special items increased by 58% to 3 mEUR, correspond- ing to an EBITDA margin of 62%, compared with 42% in the same period last year. Key figures for the Esports segment tEUR Q1 2026 Q1 2025 Growth 2025 Revenue Share 457 244 88% 1,048 CPA 7 20 -65% 41 Subscription 0 0 0% 0 Sponsorships 3,023 2,339 29% 11,952 CPM 1,240 1,793 -31% 6,875 Other 0 0 0% 0 Revenue 4,727 4,395 8% 19,916 Share of Group 5% 5% 6% Cost 1,798 2,542 -29% 9,444 Share of Group 3% 3% 4% Operating profit before depreciation and amortization and special items 2,929 1,853 58% 10,472 Share of Group 12% 7% 10% EBITDA-Margin before special items 62% 42% 53% Operating profit before depreciation and amortization 2,929 1,853 58% 10,472 EBITDA-Margin 62% 42% 53% Organic Growth 8% -10% -2% Esports Reported for the first time as a stand‑alone segment in Q2 2025, Esports encompasses Better Collective’s flagship community platforms HLTV (Counter‑Strike) and FUTBIN (EA Sports FC). The business mon- etizes primarily through programmatic and direct advertising, sponsorships, and an emerging layer of premium data products. ===== SIDA 21 ===== Q1 report 2026 Page 21 Financial performance for the period Revenue growth of 5% to 86 mEUR Revenue showed growth v ersus Q1 2025 of 5% and amounted to 86 mEUR (Q1 2025: 83 mEUR). Revenue share accounted for 47% of the revenue, with 25% com- ing from CPA, 5% from subscription sales, 16% from sponsorships and 7% from CPM. Cost of 61 mEUR - 1% increase vs Q1 2025 Costs increased by 1% compared to the same period last year, remaining broadly in line with Q1 2025. Staff costs decreased 6 % to 26 mEUR ( Q1 2025: 27 mEUR) due to the decrease in number of employees . Staff cost includes costs related to share based pay- ments of 0.8 mEUR (Q1 2025: 0.5 mEUR). Total direct cost relating to revenue increased by 2 mEUR to 27 mEUR (Q1 2025: 25 mEUR), corresponding to an increase of 10% and primarily relates to spend in Paid Media. Other external costs of 9 mEUR are at level (Q1 2025: 9 mEUR). Depreciation and amortization amounted to 10 mEUR (Q1 2025: 11 mEUR). Special items Special items amounted to a n expense of 2 mEUR (Q1 2025: 1 mEUR). The net expense of 2 mEUR is primarily related to organizational restructuring and other costs not considered part of ordinary business. Earnings Operational earnings (EBITDA) before special items in- creased 14% to 25 mEUR ( Q1 2025: 22 mEUR). The EBITDA margin before special items increased to 29% (Q1 2025: 26%). Including special items, the reported EBITDA was 23 mEUR (Q1 2025: 21 mEUR). EBIT before special items increased 29% to 15 mEUR (Q1 2025: 11 mEUR). Including special items, the reported EBIT was 13 mEUR (Q1 2025: 11 mEUR). Net financial items Net financial costs amounted to 3 mEUR (Q1 2025: 6 mEUR) and included net interest, fees relating to bank credit lines, and unrealized exchange rate adjustments. Net financial items are positively affected by a net unre- alized exchange rate gain of 1 mEUR. Interest expenses totaled 6 mEUR and comprised non- payable, calculated interest expenses on certain balance sheet items, with a total net cash flow effect of 4 mEUR. Income tax Better Collective has a tax presence in the places where it is incorporated. Tax for the period amounted to a net tax expense of 3 mEUR (Q1 2025: 1 mEUR). The Effective Tax Rate was 27% (Q1 2025: 27%). Net profit Net profit after tax was 7 mEUR ( Q1 2025: 4 mEUR). Earnings per share (EPS) was EUR/share 0.12 versus 0.06 EUR/share in Q1 2025. Q1 report 2026 Page 21 ===== SIDA 22 ===== Q1 report 2026 Page 22 Equity The equity increased to 640 mEUR as per March 31 , 2026, from 631 mEUR on December 31, 2025. Besides the net profit of 7 mEUR, the equity has been impacted pos- itively by net currency transl ations of 6 mEUR and hedge fair value adjustment of 2 mEUR. Furthermore, share buy-back of 7 mEUR and share based payments of 1 mEUR impacted negatively. On 9 January 2026, Better Collective A/S completed a share capital reduction by cancelling 3,204,020 treasury shares, equivalent to 5.2% of the company’s outstanding share capital. Balance sheet Total assets amounted to 1, 092 mEUR (202 5: 1,074 mEUR). The ratio of net interest-bearing debt to EBITDA before special items was 2.45. Cash flow and financing Cash flow from operations before special items was 25 mEUR ( Q1 2025: 21 mEUR) with a cash conversion of 101% in Q1 2026. Better Collective has bank credit facilities of a total of 319 mEUR. By the end of March 2026, capital reserves stood at 75 mEUR consisting of cash of 20 mEUR and unused bank credit facilities of 55 mEUR. The parent company Better Collective A/S is the Group’s parent company. Revenue increased by 35% to 27 mEUR ( Q1 2025: 20 mEUR). Total costs, including depreciation and amorti- zation, were 26 mEUR (Q1 2025: 26 mEUR). Profit after tax was 12 mEUR ( Q1 2025: -2 mEUR). The change in profit after tax is primarily due to the revenue growth and decline in costs. Total equity ended at 676 mEUR by March 31, 2026 (2025: 669 mEUR). The equity was pri- marily impacted by the share buy back and net profit. Q1 report 2026 Page 22 ===== SIDA 23 ===== Q1 report 2026 Page 23 Other Shares and share capital Better Collective A/S is listed on Nasdaq Stockholm main market and Nasdaq Copenhagen main market. The shares are traded under the ticker “BETCO” and “BETCO DKK”. As per March 31, 2026, the share capital amounted to 587,548.50 EUR, and the total number of issued shares was 58,754,850. The company has one (1) class of shares. Each share entitles the holder to one vote at the general meetings. Shareholder structure As of March 31, 2026, the total number of shareholders was 5,237. A list of shareholders above 5% ownership in Better Collective A/S can be found on Better Collective’s website. Incentive programs To attract and retain key competenc ies, the company has established stock option programs for certain key employees. All stock options have the right to subscribe for one ordinary share. If all outstanding long -term in- centive programs are subscribed, the maximum share- holders dilution will be approximately 4.72%. In December 2025, a new long -term incentive program was announced with up to 750,000 stock options au- thorized for key employees. Executive grants were is- sued in Q4 2025, and remaining participant grants were completed in Q1 2026. The grants under the long -term incentive program in 2026 cover 461,012 stock options to 56 key employees in total, vesting over a 4-year period. The total value of the combined 2026 LTI grant program is 3.5 mEUR (cal- culated Black-Scholes value). Risk management Through an Enterprise Risk Management process, vari- ous gross risks in Better Collective are identified. Each risk is described, including current risk mitigation in place or planned mitigating actions. The subsequent analysis of the identified risks includ es an inherent risk evaluation based on two main parameters: probability of occurrence and impact on future earnings and cash flow. Better Collective’s management continuously monitors risk development in the Better Collective group. The risk evaluation is presented to the Board of Directors annually. The board evaluates risk dynamically to account for this variation in risk impact. The policies and guidelines in place stipulate how management must work with risk management. Better Collective’s compliance with these policies and guidelines is also monitored by the management on an ongoing basis. Better Collective seeks to identify and understand risks and mitigate them accordingly. Also, Better Collective’s close and longstanding relationships with customers allow Better Collective to anticipate and respond to market movements and new regulations, in- cluding compliance requirements from authorities and sportsbooks. With the continued expansion in North and South Amer- ica, the overall risk profile of Better Collective has changed, and compliance as well as financial risk ha ve increased. Better Collective has mitigated the additional risks in several ways, compliance risk through involve- ment of regulatory bodies in our licensing process for newly established entities, financial risk through a per- formance-based valuation of the acquired ent ities, and organizational risk through establishment of local gov- ernance, and finance, HR, and legal organization dedi- cated to the North and South American operations. Other key risk factors are described in the Annual Re- port 2025. Program Long-term incentive programs outstanding March, 2026 Vesting period Exercise period Exercise price DKK Exercise price EUR (rounded) 2021* 377,372 2022-2024 2024-2026 150.41 20.13 2022 Options 20,346 2022-2024 2025-2027 125.52 16.80 2023 CXO Options 180,000 2023-2025 2026-2028 147.16 19.69 2023 Options 234,525 2023-2025 2026-2028 89.26 11.94 2024 Options 412,305 2024-2026 2027-2029 177.21 23.71 2024 PSU 46,782 2024-2026 2027-2029 - - 2025 Options 1,026,466 2025-2028 2028-2030 78.53 10.51 2026 CFO Options 150,000 2025-2028 2028-2030 76.21 10.20 2026 Options 461,012 2026-2029 2029-2031 76.21 10.20 *Key employees and members of executive management ===== SIDA 24 ===== Q1 report 2026 Page 24 V Contacts VP of Investor Relations & Communications; Mikkel Munch-Jacobsgaard investor@bettercollective.com This information is the type of information that Better Collective A/S is required to disclose to the public under the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above , on 20 May 2026 after market close (CET). About Better Collective owns global and national sport media, with a vision to become the leading digital sports media group. We are on a mission to excite sports fans through engaging content and foster passionate communities worldwide. Better Collective's portfolio of digital sports media brands includes: HLTV, FUTBIN, Betarades, Soc- cernews, Tipsbladet, Action Network, Playmaker HQ, VegasInsider, Bolavip, and Redgol. Headquartered in Copenhagen, Denmark, and dual-listed on Nasdaq Stockholm (BETCO) and Nasdaq Co penhagen (BETCO DKK). To learn more about Better Collective please visit www.bettercollective.com Q1 report 2026 Page 24 ===== SIDA 25 ===== Q1 report 2026 Page 25 Statement by the Board of Directors and the Executive Management Statement by the Board of Directors and the Execu- tive Management on the condensed consolidated in- terim financial statements and the parent company condensed interim financial statements for the period January 1 – March 31, 2026. Today, the Board of Directors and the E xecutive Management have discussed and approved the condensed consolidated interim financial statements and the parent company condensed interim financial statements of Better Collective A/S for the period Jan- uary 1 – March 31, 2026. The condensed consolidated interim financial state- ments for the period January 1 – March 31, 2026, are pre- pared following IAS 34 Interim Financial Reporting, as adopted by the EU, and the additional requirements of the Danish Financial Statements Act. The parent com- pany’s condensed interim financial statements have been included according to the Danish Executive Order on the Preparation of Interim Financial Reports. In our opinion, the condensed consolidated interim financial statements and the parent company con- densed interim financial statements give a true and fair view of Better Collective’s and parent company’s assets, liabilities, and financial position on March 31, 2026, and of the results of Better Collective’s and p arent com- pany’s operations and Better Collective’s cash flows for the period January 1 – March 31, 2026. Further, in our opinion, the management’s review gives a fair review of the development in Better Collective ’s and the parent company’s operations and financial mat- ters and the results of Better Collective’s and the parent company’s operations and financial position, as well as a description of the major risks and uncertainties Better Collective and the p arent company are facing. The In- terim Report has not been audited or reviewed by the Company’s auditor. Copenhagen, May 20, 2026 Executive Management Jesper Søgaard Co-CEO & Co-Founder Executive Vice President Christian Kirk Rasmussen Co-CEO & Co-Founder Executive Vice President Flemming Pedersen CFO Executive Vice President Board of Directors Thomas Stig Plenborg Chair Therese Hillman Vice Chair Britt Ingrid Boeskov Todd Dunlap Leif Nørgaard René Efraim Rechtman ===== SIDA 26 ===== Q1 report 2026 Page 26 Condensed interim financial statements for the period Consolidated income statement Note tEUR Q1 2026 Q1 2025 2025 3 Revenue 86,323 82,590 336,669 Direct costs related to revenue 27,061 24,658 101,943 Staff costs 25,614 27,165 100,218 Other external expenses 8,562 8,762 32,455 Operating profit before depreciation and amortization (EBITDA) and special items 25,086 22,005 102,053 Depreciation 1,706 1,965 6,864 Operating profit before amortization (EBITA) and special items 23,380 20,041 95,189 6 Amortization and impairment 8,591 8,556 33,807 Operating profit (EBIT) before special items 14,789 11,485 61,382 4 Special items, net - 1,810 - 726 - 10,411 Operating profit 12,979 10,759 50,971 Financial income 3,203 714 5,437 Financial expenses 5,741 6,490 25,227 Profit before tax 10,441 4,982 31,181 5 Tax on profit for the period 3,119 1,343 7,590 Profit for the period 7,322 3,639 23,591 Earnings per share attributable to equity holders of the company Earnings per share (in EUR) 0.12 0.06 0.41 Diluted earnings per share (in EUR) 0.12 0.06 0.39 Consolidated statement of other comprehensive income Note tEUR Q1 2026 Q1 2025 2025 Profit for the period 7,322 3,639 23,591 Other comprehensive income Other comprehensive income that may be reclassified to profit or loss in sub- sequent periods: Fair value adjustment of hedges for the year 1,623 - 43 542 Currency translation to presentation currency 869 - 2,904 - 19,623 Currency translation of non-current intercompany loans 6,387 - 10,733 - 34,999 Income tax - 1,762 2,370 7,571 Net other comprehensive income/loss 7,117 - 11,310 - 46,509 Total comprehensive income/(loss) for the period, net of tax 14,439 - 7,671 - 22,918 Attributable to: Shareholders of the parent 14,439 - 7,671 - 22,918 ===== SIDA 27 ===== Q1 report 2026 Page 27 Consolidated statement of financial position Note tEUR Q1 2026 Q1 2025 2025 Assets Non-current assets 6 Intangible assets Goodwill 338,307 353,627 333,483 Domains and websites 527,477 544,669 520,484 Accounts and other intangible assets 94,125 108,423 98,207 Total intangible assets 959,909 1,006,719 952,174 Tangible assets Right of use assets 10,218 13,674 11,038 Leasehold improvements, Fixtures and fittings, other plant and equipment 3,520 5,872 4,178 Total tangible assets 13,738 19,546 15,216 Other non-current assets Deposits 2,040 1,840 1,804 Deferred tax assets 4,258 4,609 4,086 Total other non-current assets 6,298 6,448 5,890 Total non-current assets 979,945 1,032,713 973,280 Current assets Trade and other receivables 77,941 69,358 73,596 Corporation tax receivable 5,401 5,385 6,049 Prepayments 8,891 6,119 7,702 Cash 20,171 25,466 13,494 Total current assets 112,404 106,328 100,841 Total assets 1,092,349 1,139,042 1,074,121 Note tEUR Q1 2026 Q1 2025 2025 Equity and liabilities Equity Share Capital 588 631 620 Share Premium 461,480 469,460 469,444 Reserves - 9,684 - 1,561 - 45,563 Retained Earnings 187,153 204,213 206,503 Total equity 639,537 672,744 631,004 Non-current Liabilities 7 Debt to credit institutions 266,658 258,975 259,946 7 Lease liabilities 7,549 10,711 8,309 7 Deferred tax liabilities 85,945 92,370 81,526 7 Other long-term financial liabilities 28,260 36,884 30,665 Total non-current liabilities 388,412 398,940 380,446 Current Liabilities Prepayments received from customers and deferred revenue 11,853 14,315 13,506 Trade and other payables 32,794 26,626 26,207 Corporation tax payable 1,996 4,497 2,291 7 Other financial liabilities 14,097 18,039 17,000 7 Lease liabilities 3,660 3,881 3,667 Total current liabilities 64,400 67,358 62,671 Total liabilities 452,812 466,298 443,117 Total Equity and liabilities 1,092,349 1,139,042 1,074,121 ===== SIDA 28 ===== Q1 report 2026 Page 28 Consolidated statement of changes in equity tEUR Share capital Share premium Currency translation reserve Hedging reserves Treasury shares Retained earnings Total equity As at January 1, 2026 620 469,444 - 9,991 - 94 - 35,478 206,503 631,004 Result for the period 0 0 0 0 0 7,322 7,322 Fair value adjustment of hedges 0 0 0 1,623 0 0 1,623 Currency translation to presen- tation currency 0 0 869 0 0 0 869 Currency translation of non- current intercompany loans 0 0 6,387 0 0 0 6,387 Tax on other comprehensive income 0 0 - 1,405 - 357 0 0 - 1,762 Total other comprehensive income 0 0 5,851 1,266 0 0 7,117 Total comprehensive income for the year 0 0 5,851 1,266 0 7,322 14,439 Transactions with owners Capital Decrease - 32 - 7,964 0 0 35,478 - 27,482 0 Acquisition of treasury shares 0 0 0 0 - 6,716 0 - 6,716 Disposal of treasury shares 0 0 0 0 0 0 0 Share based payments 0 0 0 0 0 817 817 Transaction cost 0 0 0 0 0 - 7 - 7 Total transactions with owners - 32 - 7,964 0 0 28,762 - 26,672 - 5,906 At March 31, 2026 588 461,480 - 4,140 1,172 - 6,716 187,153 639,537 During the period no dividend was paid. tEUR Share capital Share premium Currency translation reserve Hedging reserves Treasury shares Retained earnings Total equity As at January 1, 2025 631 469.460 36.941 - 517 - 20.336 199.749 685.929 Result for the period 0 0 0 0 0 3.639 3.639 Fair value adjustment of hedges 0 0 0 - 43 0 0 - 43 Currency translation to presentation currency 0 0 - 13.637 0 0 0 - 13.637 Currency translation of non- current intercompany loans 0 0 0 0 0 0 0 Tax on other comprehensive income 0 0 2.361 9 0 0 2.370 Total other comprehensive income 0 0 - 11.276 - 34 0 0 - 11.310 Total comprehensive income for the year 0 0 - 11.276 - 34 0 3.639 - 7.671 Transactions with owners Capital Increase 0 0 0 0 0 0 0 Acquisition of treasury shares 0 0 0 0 - 6.338 0 - 6.338 Disposal of treasury shares 0 0 0 0 0 0 0 Share based payments 0 0 0 0 0 830 830 Transaction cost 0 0 0 0 0 - 6 - 6 Total transactions with owners 0 0 0 0 - 6.338 824 - 5.514 At March 31, 2025 631 469.460 25.665 - 551 - 26.674 204.213 672.744 During the period no dividend was paid. ===== SIDA 29 ===== Q1 report 2026 Page 29 Consolidated statement of changes in equity tEUR Share capital Share premium Currency translation reserve Hedging reserves Treasury shares Retained earnings Total equity As at January 1, 2025 631 469.460 36.941 - 517 - 20.336 199.749 685.929 Result for the period 0 0 0 0 0 23.591 23.591 Fair value adjustment of hedges 0 0 0 542 0 0 542 Currency translation to presen- tation currency 0 0 - 19.623 0 0 0 - 19.623 Currency translation of non- current intercompany loans 0 0 - 34.999 0 0 0 - 34.999 Tax on other comprehensive income 0 0 7.690 - 119 0 0 7.571 Total other comprehensive income 0 0 - 46.932 423 0 0 - 46.509 Total comprehensive income for the year 0 0 - 46.932 423 0 23.591 - 22.918 Transactions with owners Capital Decrease - 11 - 16 0 0 20.336 - 20.309 0 Acquisition of treasury shares 0 0 0 0 - 35.590 0 - 35.590 Disposal of treasury shares 0 0 0 0 112 0 112 Share based payments 0 0 0 0 0 3.508 3.508 Transaction cost 0 0 0 0 0 - 36 - 36 Total transactions with owners - 11 - 16 0 0 - 15.142 - 16.837 - 32.006 At December 31, 2025 620 469.444 - 9.991 - 94 - 35.478 206.503 631.004 During the period no dividend was paid. ===== SIDA 30 ===== Q1 report 2026 Page 30 Consolidated statement of cash flows Note tEUR Q1 2026 Q1 2025 2025 Profit before tax 10,441 4,982 31,181 Adjustment for finance items 2,538 5,777 19,790 Adjustment for special items 1,810 726 10,411 Operating Profit for the period before special items 14,789 11,485 61,382 Depreciation and amortization 10,297 10,521 40,671 Other adjustments of non-cash operating items 821 459 2,695 Cash flow from operations before changes in working capital and special items 25,907 22,465 104,748 Change in working capital - 600 - 1,823 - 10,295 Cash flow from operations before special items 25,307 20,642 94,453 Special items, cash flow - 2,061 - 1,950 - 12,858 Cash flow from operations 23,246 18,692 81,595 Financial income, received 68 330 274 Financial expenses, paid - 3,832 - 3,847 - 14,673 Cash flow from activities before tax 19,482 15,175 67,196 Income tax paid - 2,560 - 6,149 - 16,012 Cash flow from operating activities 16,923 9,027 51,184 8 Acquisition of businesses 0 - 8,410 - 9,691 6 Acquisition of intangible assets - 8,723 - 5,194 - 24,741 Acquisition of tangible assets - 53 - 176 - 347 Change in other non-current assets - 183 100 100 Cash flow from investing activities - 8,959 - 13,679 - 34,679 Note tEUR Q1 2026 Q1 2025 2025 Proceeds from borrowings 6,691 0 0 Lease liabilities - 979 - 1,141 - 4,560 Treasury shares - 6,716 - 6,338 - 35,590 Transaction cost - 7 - 6 - 36 Share based payments, cash settlement - 200 0 - 371 Cash flow from financing activities - 1,212 - 7,485 - 40,557 Cash flows for the period 6,752 - 12,138 - 24,051 Cash and cash equivalents at beginning 13,494 37,674 37,674 Foreign currency translation of cash and cash equivalents - 75 - 71 - 129 Cash and cash equivalents period end 20,171 25,466 13,494 Cash and cash equivalents period end Cash 20,171 25,466 13,494 Cash and cash equivalents period end 20,171 25,466 13,494 ===== SIDA 31 ===== Q1 report 2026 Page 31 Notes 1. General information Better Collective A/S is a limited liability company and is incorporated in Denmark. The parent company and its subsidiaries (referred to as the “Group” or “Better Collective”) engage in online performance marketing. Better Collective’s vision is to become the leading digital sports media group. Basis of preparation The Interim Report (condensed consolidated interim financial statements) for the period January 1 – March 31, 2026, has been prepared in accordance with IAS 34 “Interim financial reporting” as adopted by the EU and additional requirements in the Danish Financial Statements Act. The parent company condensed interim financial statements has been included according to the Danish Executive Order on the Preparation of Interim Financial Reports. These condensed consolidated interim financial statements incorporate the results of Better Collective A/S and its subsid- iaries. The condensed consolidated interim financial statements refer to certain key performance indicators, which Better Collec- tive and others use when evaluating the performance of Better Collective. These are referred to as alternative performance measures (APMs) and are not defined under IFRS. The figures and related subtotals give management and investors im- portant information to enable them to fully analyze the Better Collective business and trends. The APMs are not meant to replace but to complement the performance measures defined under IFRS. New financial reporting standards The IASB has issued several new or amended standards and interpretations with effective date beginning on January 1, 2026. Better Collective expects to adopt the new standards and interpretations when they become mandatory. None of the standards are expected to have a significant effect on the consolidated financial statements or the parent financial statements for the financial year 2026. IFRS 18 will be effective from the financial year 2027 and replaces IAS 1 Presentation of Financial Statements , requiring modifications to the financial statement presentation. The key modifications required are a new presentation of the income statement into activities (i.e. operating, investing, financing and tax categories) introducing new line items, and the disclo- sure of management-defined performance measures. Additionally, related amendments to IAS 7 Statement of Cash Flows prescribe a new starting point for calculating operating cash flows under the indirect method and eliminate classification options for interest and dividends. Management expects that the adoption of IFRS 18 will not impact net profit or impose substantial changes to our founda- tional accounting policies. The primary effects will be presentation, requiring the reclassification of specific line items within the income statement and the subsequent redefinition of our key financial performance measures to align with the new categories. Accounting policies The condensed consolidated interim financial statements have been prepared using the same accounting policies as set out in note 1 of the 2025 annual report which contains a full description of the accounting policies for Better Collective and the parent company. The annual report for 2025 including full description of the accounting policies can be found on Better Collective’s website: https://storage.mfn.se/d7de43dc-19a9-46e6-aec8-ef5ae6f46d3e/annual-report-2025-better-collective.pdf. Significant accounting judgements, estimates and assumptions The preparation of condensed consolidated interim financial statements requires management to make judgements, esti- mates and assumptions that affect the reported amounts of revenue, expenses, assets, and liabilities. Beyond the risks mentioned above, the significant accounting judgements, estimates and assumptions applied in these consolidated interim financial statements are the same as disclosed in note 2 in the annual report for 202 5 which contains a full description of significant accounting judgements, estimates and assumptions. ===== SIDA 32 ===== Q1 report 2026 Page 32 2. Operating segments Publishing , Paid Media and Esport s Better Collective operates three distinct business models for customer acquisition, each with unique earnings profiles: Publishing, Paid Media, and Esports. Publishing generates revenue from Better Collective’s owned and operated sports media network and its media partnerships. Paid Media involves purchasing advertising on search engines, social media, and third-party sports media platforms, thereby operating with a lower gross margin. Esports monetizes through adver- tising and sponsorships. The performance for each segment is presented in the below tables: Publishing** Paid Media Esport Group tEUR Q1 2026 Q1 2025 Q1 2026 Q1 2025 Q1 2026 Q1 2025* Q1 2026 Q1 2025 Revenue Share 27,434 26,355 11,627 10,297 457 244 39,518 36,895 CPA 5,402 7,197 15,983 14,284 7 20 21,392 21,501 Subscription 4,331 4,666 0 0 0 0 4,331 4,924 Sponsorships 11,193 9,433 0 0 3,023 2,339 14,216 11,772 CPM 5,051 5,694 0 0 1,240 1,793 6,291 7,228 Other 575 270 0 0 0 0 575 270 Revenue 53,986 53,614 27,610 24,581 4,727 4,395 86,323 82,590 Cost 38,594 38,891 20,845 19,152 1,798 2,542 61,237 60,585 Operating profit before depreciation, amortization and special items 15,392 14,723 6,765 5,429 2,929 1,853 25,086 22,005 EBITDA-Margin before special items 29% 27% 25% 22% 62% 42% 29% 27% Special items, net - 1,455 - 726 - 355 0 0 0 - 1,810 - 726 Operating profit before depreciation and amortization 13,937 13,998 6,410 5,429 2,929 1,853 23,276 21,280 EBITDA-Margin 26% 26% 23% 22% 62% 42% 27% 26% Depreciation 1,660 1,914 46 51 0 0 1,706 1,965 Operating profit before amortization 12,277 12,084 6,364 5,378 2,929 1,853 21,570 19,315 EBITA-Margin 23% 23% 23% 22% 62% 42% 25% 23% * 2025 figures have been adjusted due to the new segmentation, where Esports has been carved out from Publishing as a distinct seg- ment. ** Majority of costs related to support functions are presented under Publishing. ===== SIDA 33 ===== Q1 report 2026 Page 33 2. Operating segments, continued Publishing** Paid Media Esports Group tEUR 2025 2025 2025* 2025 Revenue Share 110,995 45,441 1,048 157,484 CPA 19,950 60,049 41 80,040 Subscription 18,031 0 0 18,031 Sponsorships 36,809 19 11,952 48,781 CPM 24,094 0 6,875 30,969 Other 1,364 0 0 1,364 Revenue 211,243 105,510 19,916 336,669 Cost 144,668 80,504 9,444 234,616 Operating profit before depreciation, amorti- zation and special items 66,575 25,006 10,472 102,053 EBITDA-Margin before special items 32% 24% 53% 30% Special items, net - 10,313 - 98 0 - 10,411 Operating profit before depreciation and amortization 56,262 24,908 10,472 91,642 EBITDA-Margin 27% 24% 53% 27% Depreciation 6,669 195 0 6,864 Operating profit before amortization 49,593 24,713 10,472 84,778 EBITA-Margin 23% 23% 53% 25% * 2025 figures have been adjusted due to the new segmentation, where Esports has been carved out from Publishing as a distinct seg- ment. ** Majority of costs related to support functions are presented under Publishing. ===== SIDA 34 ===== Q1 report 2026 Page 34 2. Geographic segments Europe & Rest of World and North America Better Collective’s products cover more than 30 languages and attract millions of users worldwide - with international brands with a global reach as well as regional brands with a national reach. Better Collective’s regional brands are tailored according to the specific regions or countries and their respective regulations, sports, betting behaviors, user needs, and languages. Better Collective reports on the geographical segments Europe & R oW (Rest of World) and North America, measuring and disclosing separately for Revenue, Cost and Earnings. The performance for each segment is presented in the below tables: Europe & RoW North America Group tEUR Q1 2026 Q1 2025 Q1 2026 Q1 2025 Q1 2026 Q1 2025 Revenue Share 33,934 33,065 5,584 3,831 39,518 36,895 CPA 16,151 15,029 5,240 6,472 21,391 21,501 Subscription 1,242 741 3,089 4,183 4,331 4,924 Sponsorships 5,635 5,386 8,581 6,385 14,216 11,772 CPM 3,198 5,116 3,093 2,112 6,291 7,228 Other 315 207 261 64 576 270 Revenue 60,475 59,544 25,848 23,047 86,323 82,590 Cost 43,327 41,760 17,910 18,825 61,237 60,585 Operating profit before depreciation, amortization and special items 17,148 17,784 7,938 4,222 25,086 22,005 EBITDA-Margin before special items 28% 30% 31% 18% 29% 27% Special items, net - 1,314 - 352 - 496 - 374 - 1,810 - 726 Operating profit before depreciation and amortization 15,834 17,433 7,442 3,847 23,276 21,280 EBITDA-Margin 26% 29% 29% 17% 27% 26% Depreciation 1,442 1,348 264 617 1,706 1,965 Operating profit before amortization 14,392 16,084 7,178 3,231 21,570 19,315 EBITA-Margin 24% 27% 28% 14% 25% 23% Europe & RoW North America Group tEUR 2025 2025 2025 Revenue Share 135,175 22,309 157,484 CPA 59,463 20,577 80,040 Subscription 3,493 14,538 18,031 Sponsorships 23,065 25,716 48,781 CPM 21,227 9,742 30,969 Other 1,110 253 1,364 Revenue 243,534 93,135 336,669 Cost 167,496 67,120 234,616 Operating profit before depreciation, amortization and special items 76,038 26,015 102,053 EBITDA-Margin before special items 31% 28% 30% Special items, net - 7,671 - 2,740 - 10,411 Operating profit before depreciation and amortization 68,367 23,275 91,642 EBITDA-Margin 28% 25% 27% Depreciation 5,612 1,252 6,864 Operating profit before amortization 62,755 22,023 84,778 EBITA-Margin 26% 24% 25% ===== SIDA 35 ===== Q1 report 2026 Page 35 3. Revenue specification In accordance with IFRS 15 disclosure requirements, total revenue is split on revenue category and revenue types as fol- lows: tEUR Q1 2026 Q1 2025 2025 Revenue category Recurring revenue (Revenue share, Subscription, CPM) 50,141 49,047 206,484 CPA, Sponsorships 35,607 33,273 128,821 Other 575 270 1,364 Total revenue 86,323 82,590 336,669 %-split Recurring revenue 58 60 62 CPA, Sponsorships 42 40 38 Other 0 0 0 Total 100 100 100 %-split Q1 2026 Q1 2025 2025 Revenue Share 47 45 47 CPA 25 26 24 Subscription 5 6 5 Sponsorships 16 14 14 CPM 7 9 9 Other 0 0 0 Total 100 100 100 ===== SIDA 36 ===== Q1 report 2026 Page 36 4. Special items Special items consist of recurring and non-recurring items that management does not consider to be part of Better Col- lective’s ordinary operating activities, i.e. acquisition costs, adjustment of earn-out payments related to acquisitions, im- pairments, disputes, restructuring costs and lease contract termination costs are presented in the Income statement in a separate line item labelled ‘Special items’. The impact of special items is specified as follows: tEUR Q1 2026 Q1 2025 2025 Operating profit 12,979 10,759 50,971 Special Items related to: M&A 0 - 227 - 835 Restructuring and other non-recurring items - 1,810 - 498 - 9,576 Special items, total - 1,810 - 726 - 10,411 Operating profit (EBIT) before special items 14,789 11,485 61,382 Amortization and impairment 8,591 8,556 33,807 Operating profit before amortization and special items (EBITA before special items) 23,380 20,041 95,189 Depreciation 1,706 1,965 6,864 Operating profit before depreciation, amortization, and special items (EBITDA before special items) 25,086 22,005 102,053 5. Income tax Total tax for the period is specified as follows: tEUR Q1 2026 Q1 2025 2025 Tax for the period 3,119 1,343 7,590 Tax on other comprehensive income 1,762 - 2,370 - 7,571 Total 4,881 - 1,027 19 Income tax on profit for the period is specified as follows: tEUR Q1 2026 Q1 2025 2025 Deferred tax 2,265 - 2,437 - 10,058 Current tax 855 3,784 21,006 Adjustment from prior years - 1 - 3 - 3,358 Total 3,119 1,343 7,590 Tax on the profit for the period can be explained as follows: tEUR Q1 2026 Q1 2025 2025 Specification for the period: Calculated 22% tax of the result before tax 2,297 1,096 6,860 Adjustment of the tax rates in foreign subsidiaries relative to the 22% - 380 48 2,131 Tax effect of: Special items 68 - 27 160 Other non-taxable income - 724 - 42 - 570 Other non-deductible costs 241 148 1,212 Unrecognized tax losses carried forward 1,619 123 1,155 Reassesment of unrecognized tax losses carried forward 0 0 - 2,285 Adjustment of tax relating to prior periods - 1 - 3 - 1,073 Total 3,119 1,343 7,590 Effective tax rate 29.9% 27.0% 24.3% ===== SIDA 37 ===== Q1 report 2026 Page 37 6. Intangible assets tEUR Goodwill Domains and websites Accounts and other intangible assets* Total Cost or valuation As of January 1, 2026 350,494 520,484 205,318 1,076,296 Additions 0 0 4,413 4,413 Acquisitions through business combinations 0 0 0 0 Transfer 0 0 0 0 Disposals 0 0 0 0 Currency Translation 5,207 6,993 110 12,310 At March 31, 2026 355,701 527,477 209,841 1,093,019 Amortization and impairment As of January 1, 2026 17,011 0 107,111 124,122 Amortization for the period 0 0 8,604 8,604 Impairment for the period 0 0 0 0 Amortization on disposed assets 0 0 0 0 Currency translation 383 0 0 383 At March 31, 2026 17,394 0 115,715 133,109 Net book value at March 31, 2026 338,307 527,477 94,126 959,909 * Accounts and other intangible assets consist of accounts ( 45,503 tEUR), Media Partnerships (40,211 tEUR), Development projects (7,200 tEUR) and software and others (1,211 tEUR) tEUR Goodwill Domains and websites Accounts and other intangible assets* Total Cost or valuation As of January 1, 2025 380,138 553,886 211,066 1,145,089 Additions 0 0 854 854 Acquisitions through business combinations 0 0 0 0 Transfer 0 0 0 0 Disposals 0 0 - 10,714 - 10,714 Currency Translation - 8,018 - 9,217 - 805 - 18,040 At March 31, 2025 372,120 544,669 200,401 1,117,189 Amortization and impairment As of January 1, 2025 19,150 0 93,438 112,588 Amortization for the period 0 0 8,211 8,211 Impairment for the period 0 0 0 0 Amortization on disposed assets 0 0 - 9,671 - 9,671 Currency translation - 657 0 0 - 657 At March 31, 2025 18,493 0 91,978 110,471 Net book value at March 31, 2025 353,627 544,669 108,423 1,006,719 * Accounts and other intangible assets consist of accounts ( 60,670 tEUR), Media Partnerships (44,934 tEUR), Development projects (2,558 tEUR) and software and others (261 tEUR) ===== SIDA 38 ===== Q1 report 2026 Page 38 6. Intangible assets, continued tEUR Goodwill Domains and websites Accounts and other intangible assets* Total Cost or valuation As of January 1, 2025 380,138 553,886 211,066 1,145,090 Additions 0 0 22,750 22,750 Acquisitions through business combinations 0 0 0 0 Transfer 0 0 0 0 Disposals 0 0 - 24,304 - 24,304 Currency Translation - 29,644 - 33,402 - 4,194 - 67,240 At December 31, 2025 350,494 520,484 205,318 1,076,296 Amortization and impairment As of January 1, 2025 19,150 0 93,438 112,588 Amortization for the period 0 0 32,880 32,880 Impairment for the period 0 0 0 0 Amortization on disposed assets 0 0 - 19,194 - 19,194 Currency translation - 2,139 0 - 13 - 2,152 At December 31, 2025 17,011 0 107,111 124,122 Net book value at December 31, 2025 333,483 520,484 98,207 952,174 * Accounts and other intangible assets consist of accounts (4 7,484 tEUR), Media Partnerships (44,493 tEUR), Development projects (5,443 tEUR) and software and others (788 tEUR) 7. Non-current liabilities and other current financial liabilities Debt to credit institutions As per March 31, 2026, Better Collective has drawn 267 mEUR (2025: 260) out of the total committed club facility of 319 mEUR established with Nordea and Nykredit. Better Collective has a total committed facility of 319 mEUR and an 80 mEUR higher accordion option with expiry at the end of October 202 8. Better Collective has entered two hedging contracts regarding the interest rate risk for the period October 2025 to October 2028, nominal amount of 550 mDKK each securing the interest rate at 2.29% and 2.31% respectively. Lease liabilities Non-current and current lease liabilities, of 8 mEUR (2025: 8 mEUR) and 4 mEUR (2025: 4 mEUR) respectively. Deferred tax liabilities Deferred tax liabilities as of March 31, 2026, amounted to 86 mEUR (2025: 82 mEUR). The change from January 1, 2026, originates from changes in deferred tax related to acquisitions, amortization of accounts from acquisitions, and deferred tax changes in the Parent Company, Better Collective US, Inc and Playmaker Capital. Deferred tax assets Deferred tax assets as of March 31, 2026, amounted to 5 mEUR (2025: 4 mEUR). The change from January 1, 2026, origi- nates from changes in Playmaker Capital. Other financial liabilities As per March 31, 2026, other non-current and current financial liabilities amounted to 46 mEUR (2025: 48 mEUR) due to deferred and variable payments related to acquisitions and media partnerships. Fair Value of financial assets and liabilities is measured based on level 3 - Valuation techniques. In all material aspects the fair value of the financial assets and liabilities is considered equal to the booked value. The fair value of financial instruments is measured based on level 2. The fair value is measured according to generally accepted valuation techniques. Market-based input is used to measure the fair value. ===== SIDA 39 ===== Q1 report 2026 Page 39 8. Note to cash flow statement tEUR Q1 2026 Q1 2025 2025 Acquisition of business combinations: Net Cash outflow from business combinations at acquisition 0 0 0 Business Combinations deferred payments from current period 0 0 0 Deferred payments - business combinations from prior periods 0 - 8.410 - 9.691 Total cash flow from business combinations 0 - 8.410 - 9.691 Acquisition of intangible assets: Acquisitions through asset transactions - 2.512 0 0 Deferred payments related to acquisition value 0 0 0 Deferred payments - acquisitions from prior periods 0 0 0 Other investments - 6.211 - 5.194 - 24.741 Total cash flow from intangible assets - 8.723 - 5.194 - 24.741 ===== SIDA 40 ===== Q1 report 2026 Page 40 Financial statements for the period Income statement – Parent company tEUR Q1 2026 Q1 2025 2025 Revenue 27,371 20,203 106,732 Other operating income 5,921 4,818 21,381 Direct costs related to revenue 4,493 3,894 19,179 Staff costs 11,867 11,869 48,124 Depreciation 782 793 3,153 Other external expenses 5,888 5,924 22,922 Operating profit before amortization (EBITA) and special items 10,262 2,540 34,734 Amortization 2,312 3,059 11,641 Operating profit (EBIT) before special items 7,950 - 518 23,093 Special items, net - 158 - 383 - 2,856 Operating profit 7,792 - 901 20,238 Financial income 12,044 12,133 33,308 Financial expenses 4,171 16,710 65,189 Profit before tax 15,665 - 5,478 - 11,644 Tax on profit for the period 3,171 - 3,008 - 6,437 Profit for the period 12,494 - 2,470 - 5,207 Statement of other comprehensive income tEUR Q1 2026 Q1 2025 2025 Profit for the period 12,494 - 2,470 - 5,207 Other comprehensive income Other comprehensive income that may be reclassified to profit or loss in subsequent periods: Fair value adjustment of hedges for the year 1,623 - 43 542 Currency translation to presentation currency - 409 11 - 699 Income tax - 357 9 - 119 Net other comprehensive income/loss 857 - 23 - 276 Total comprehensive income/(loss) for the period, net of tax 13,351 - 2,493 - 5,483 ===== SIDA 41 ===== Q1 report 2026 Page 41 Statement of financial position – Parent company tEUR Q1 2026 Q1 2025 2025 Assets Non-current assets Intangible assets Goodwill 17,764 17,792 17,774 Domains and websites 167,380 167,780 168,023 Accounts and other intangible assets 31,560 42,208 31,248 Total intangible assets 216,704 227,780 217,045 Tangible assets Right of use assets 5,256 7,252 5,755 Fixtures and fittings, other plant and equipment 1,453 2,613 1,740 Total tangible assets 6,709 9,865 7,495 Financial assets Investments in subsidiaries 371,827 377,019 370,894 Receivables from subsidiaries 353,778 375,326 346,618 Deposits 1,041 1,002 1,013 Total financial assets 726,646 753,347 718,526 Total non-current assets 950,059 990,992 943,066 Current assets Trade and other receivables 20,051 19,212 19,604 Receivables from subsidiaries 58,697 36,301 49,245 Tax receivable 1,165 966 1,782 Prepayments 3,088 3,233 2,386 Cash 2,324 5,951 242 Total current assets 85,325 65,663 73,259 Total assets 1,035,384 1,056,655 1,016,325 tEUR Q1 2026 Q1 2025 2025 Equity and liabilities Equity Share Capital 588 631 620 Share Premium 461,480 469,460 469,444 Reserves - 9,676 - 30,238 - 39,295 Retained Earnings 224,092 258,525 238,127 Total equity 676,484 698,380 668,896 Non-current Liabilities Debt to credit institutions 266,658 258,975 259,946 Lease liabilities 3,519 5,549 4,034 Deferred tax liabilities 13,424 15,295 9,925 Other non-current financial liabilities 22,020 31,440 23,355 Total non-current liabilities 305,621 311,258 297,261 Current Liabilities Prepayments received from customers and deferred revenue 7,403 9,570 9,170 Trade and other payables 7,725 4,572 5,369 Payables to subsidiaries 30,140 17,808 26,556 Other current financial liabilities 5,990 13,124 7,071 Lease liabilities 2,021 1,943 2,002 Total current liabilities 53,279 47,017 50,168 Total liabilities 358,900 358,275 347,429 Total equity and liabilities 1,035,384 1,056,655 1,016,325 ===== SIDA 42 ===== Q1 report 2026 Page 42 Statement of changes in equity – Parent company tEUR Share capital Share premium Currency translation re-serve Hedging reserves Treasury shares Retained earnings Total equity As of January 1, 2026 620 469,444 - 3,723 - 94 - 35,478 238,127 668,896 Result for the period 0 0 0 0 0 12,494 12,494 Fair value adjustment of hedges 0 0 0 1,623 0 0 1,623 Foreign currency translation 0 0 - 409 0 0 0 - 409 Tax on other comprehensive income 0 0 0 - 357 0 0 - 357 Total other comprehensive income 0 0 - 409 1,266 0 0 857 Total comprehensive income for the year 0 0 - 409 1,266 0 12,494 13,351 Transactions with owners Capital Decrease - 32 - 7,964 0 0 35,478 - 27,482 0 Acquisition of treasury shares 0 0 0 0 - 6,716 0 - 6,716 Disposal of treasury shares 0 0 0 0 0 0 0 Share based payments 0 0 0 0 0 960 960 Transaction cost 0 0 0 0 0 - 7 - 7 Total transactions with owners - 32 - 7,964 0 0 28,762 - 26,529 - 5,763 At March 31, 2026 588 461,480 - 4,132 1,172 - 6,716 224,092 676,484 During the period no dividend was paid. tEUR Share capital Share premium Currency translation re-serve Hedging reserves Treasury shares Retained earnings Total equity As of January 1, 2025 631 469,460 - 3,024 - 517 - 20,336 260,171 706,387 Result for the period 0 0 0 0 0 - 2,470 - 2,470 Fair value adjustment of hedges 0 0 0 - 43 0 0 - 43 Foreign currency translation 0 0 11 0 0 0 11 Tax on other comprehensive income 0 0 0 9 0 0 9 Total other comprehensive income 0 0 11 - 34 0 0 - 23 Total comprehensive income for the year 0 0 11 - 34 0 - 2,470 - 2,493 Transactions with owners Capital Increase 0 0 0 0 0 0 0 Acquisition of treasury shares 0 0 0 0 - 6,338 0 - 6,338 Disposal of treasury shares 0 0 0 0 0 0 0 Share based payments 0 0 0 0 0 830 830 Transaction cost 0 0 0 0 0 - 6 - 6 Total transactions with owners 0 0 0 0 7,840 1,422 - 5,514 At March 31, 2025 631 469,460 - 3,013 - 551 - 12,496 259,123 698,380 During the period no dividend was paid. ===== SIDA 43 ===== Q1 report 2026 Page 43 Statement of changes in equity – Parent company tEUR Share capital Share premium Currency transla-tion re-serve Hedging reserves Treasury shares Retained earnings Total equity As of January 1, 2025 631 469,460 - 3,024 - 517 - 20,336 260,171 706,387 Result for the period 0 0 0 0 0 - 5,207 - 5,207 Fair value adjustment of hedges 0 0 0 542 0 0 542 Foreign currency translation 0 0 - 699 0 0 0 - 699 Tax on other comprehensive income 0 0 0 - 119 0 0 - 119 Total other comprehensive income 0 0 - 699 423 0 0 - 276 Total comprehensive income for the year 0 0 - 699 423 0 - 5,207 - 5,483 Transactions with owners Capital Increase - 11 - 16 0 0 20,336 - 20,309 0 Acquisition of treasury shares 0 0 0 0 - 35,590 0 - 35,590 Disposal of treasury shares 0 0 0 0 112 0 112 Share based payments 0 0 0 0 0 3,508 3,508 Transaction cost 0 0 0 0 0 - 36 - 36 Total transactions with owners - 11 - 16 0 0 - 15,142 - 16,837 - 32,006 At December 31, 2025 620 469,444 - 3,723 - 94 - 35,478 238,127 668,896 During the period no dividend was paid. ===== SIDA 44 ===== Q1 report 2026 Page 44 Better Collective uses and communicate certain Alternative Performance Measures (“APM”), which are not defined under IFRS. Such are not to replace performance measures defined and under IFRS. The APM’s may not be indicative of the group’s historical operating results, nor are such measures meant to be predictive of the group’s future results. The group believes however that the APMs are useful supplemental indicators that may be used to assist in evaluating a company’s future operating performance, and its ability to service its debt. Accordingly, the APMs are disclosed to permit a more complete and comprehensive analysis of the group’s operating performance, consistently with how the group’s business performance is evaluated by the Management. The group believes that the presentation of these APMs enhances an investor’s understanding of the group’s operating performance and the group’s ability to service its debt. Accordingly, the group discloses the APM’s to permit a more complete and comprehensive analysis of its operating performance relative to other companies and across periods, and of the group’s ability to service its debt. However, these APM’s may be calculated differently by other companies and may not be comparable with APM’s with similarly titled measures used by other companies. The group’s APMs are not measurements of financial performance under IFRS and should not be considered as alternatives to other indicators of the Company’s operating performance, cash flows or any other measures of performance derived in accordance with IFRS. The group’s APM’s have important limitations as analytical tools, and they should not be considered in isolation or as substitutes for analysis of the group’s results of operations as reported under IFRS. Our currently applied APM’s are summarized and described below. Alternative Performance Measures Alternative Performance Measure Description SCOPE Operating profit before amortization (EBITA) Operating profit plus amortizations Better Collective reports this APM to allow monitor- ing and evaluation of the Group’s operational profit- ability Operating profit before amortizations margin (%) Operating profit before amortizations / reve- nue This APM supports the assessment and monitoring of the Group’s performance and profitability EBITDA before special items EBITDA adjusted for special items This APM supports the assessment and monitoring of the Group’s performance as well as profitability excluding special items that do no stem from ongo- ing operations, providing a more comparable meas- ure over time Alternative Performance Measure Description SCOPE Operating profit before amortizations and spe- cial items margin (%) Operating profit before amortizations and special items / revenue This APM supports the assessment and monitoring of the Group’s performance as well as profitability excluding special items that do no stem from ongo- ing operations, providing a more comparable meas- ure over time Special items Items that are considered not part of ongoing business Items that are not part of ongoing business, e.g. cost related to M&A and restructuring, adjustments of earn-out payments Net Debt / EBITDA before special items (Interest bearing debt, minus cash and cash equivalents) / EBITDA before special items on rolling twelve months basis This ratio is used to describe the horizon for pay back of the interest-bearing debt and measures the leverage of the funding Cash conversion rate before special items (Cash flow from operations before special items + Cash from CAPEX) / EBITDA before special items This APM is reported to illustrate the Group’s ability to convert profits to cash NDC New depositing customers A key figure to reflect the Group’s ability to fuel long-term revenue and organic growth Organic Growth Revenue growth as compared to the same pe- riod previous year. Organic growth from ac- quired companies or assets are calculated from the date of acquisition measured against the historical baseline performance Reported to measure the ability to generate growth from existing business Recurring revenue Recurring revenue is a combined set of reve- nues that is defined as recurring as manage- ment considers that the sources of these rev- enue streams will continuously generate reve- nue over a variable period of time and size e.g. if players continue to bet with s portsbooks with which BC has revenue share agreements, customers continue current subscriptions or if BC on a current basis receive revenues from customers having current marketing agree- ments in respect of banners, etc. on the group’s websites. Accordingly , it includes Revenue share income, CPM /Advertising and subscription revenues The group reports this APM to distinguish between what management consider as recurring revenue streams and what management consider as non -re- curring revenue streams, e.g. revenues reflecting one-time settlements with sportsbooks Alternative Performance Measures and Definitions ===== SIDA 45 ===== Q1 report 2026 Page 45 Alternative Performance Measure Description SCOPE CLV The Customer Lifetime Value (CLV) shows ex- pected revenue generated throughout the life- time of a New Depositing Customer (NDC). This measure is pivotal for understanding how much value a NDC is anticipated to bring to the Group. The prerequisites going into the CLV are a number of factors such as average value, average frequency, NDC lifespan and churn rate. Average revenue per NDC x NDC lifespan A key figure to assess the value of NDCs generated by the Group, providing critical insights into NDC profitability. It allows the Group to identify the most valuable segments and optimize marketing strate- gies accordingly Value of Deposits (VoD) The Value of Deposits (VoD) represents the to- tal amount of deposits by referred users across partner platforms during the period. VoD rep- resents deposits generated within the quarter and is not a cumulative metric This reflects the Group’s strategic focus on attract- ing fewer but higher -value customers for our part- ners Definitions Term Description PPC Pay-Per-Click SEO Search Engine Optimization Sports win margin Sports net player winnings (sportsbooks) / sports wagering Sports wagering The value of bets placed by the players Recurring revenue Recurring revenue is a combined set of revenues that is defined as recurring. It includes revenue share income, CPM/Advertising and subscription revenues Board The Board of Directors of the company Executive management Executives that are registered with the Danish Company register Company Better Collective A/S, a company registered under the laws of Denmark ===== SIDA 46 ===== Q1 report 2026 Page 46 Better Collective A/S Sankt Annæ Plads 28 1250 Copenhagen K Denmark CVR no 27 65 29 13 +45 29 91 99 65 info@bettercollective.com bettercollective.com