Light & Wonder Inc Litigation Update Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Barry Jonas - Truist Securities - Analyst : Hey guys, good afternoon. And thanks for doing this. Matt, what are the next steps for the legal process here and as it relates to Jewel of the Dragon, would you look to re-commercialize the game if the ruling comes out in your favor? Thanks.

Question: Barry Jonas - Truist Securities - Analyst : Great, thanks so much.

Question: Matt Ryan - Barrenjoey - Analyst : Hi, thank you. Hi, Matt. Hi, Oliver. I just had a question on the reviews that have gone on so far, which obviously includes the independent review and whether, they've found that any IP outside of the PAR sheets was shared with other members of the team. And then just on the PAR sheets, has there ever been a litigation brought forward in the industry because of the sharing of these PAR sheets?

Question: Matt Ryan - Barrenjoey - Analyst : Thank you. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. APRIL 02, 2025 / 8:30PM, LNW.OQ - Light & Wonder Inc Litigation Update Call

Question: David Katz - Jefferies LLC - Analyst : Hi, afternoon, everyone. Thanks for all the information. Just curious, what did you replace the 150 games with? Was there any one specific title? And if we could talk a little geography about sort of where the 150 were, if there was any concentration that would help. Thank you.

Question: David Katz - Jefferies LLC - Analyst : Okay, thank you.

Question: David Ferris - Macquarie Securities USA - Analyst : Hi, Matt. Hi, Oliver. I'm curious to understand what processes you've changed or planning to change as part of game development and commercialization of product to mitigate future litigation. I guess what I'm trying to understand here is, what thought was put in by Light & Wonder management around the launching of Dragon Train and Jewel of the Dragon, considering the similarities if there was thought put into that? Any thoughts around how you can mitigate future litigation would be really helpful.

Question: David Ferris - Macquarie Securities USA - Analyst : Perfect, understood. Thank you, Matt.

Question: Rohan Gallagher - Jarden Australia Pty Limited - Analyst : Matt, Oliver, good afternoon. Hello everyone. A few of the questions have already been answered. I am recognizing this is not a quarterly call and you're now in blackout, but perhaps, Oliver, can you assist us with any anticipated financial impacts across this broader litigation update, whether it be the few millions of dollars of revenue associated with Jewel of the Dragon, extra legal costs, provisioning, would be helpful. Thank you.

Question: Justin Barratt - CLSA - Analyst : Hi guys, thanks very much for your time this morning. Matt, I appreciate your commentary that to this point there's no evidence of contagion, but I was curious to sort of see what you're going to need to do going forward for, I guess those other parties that were privy to those emails from Emma. Are you going to need to sort of continue to check any games that they make in the future for that risk? Are you going to have to get independent reviews done of those games to confirm that I guess none of the mass models have been used in the development of any future games? And I guess more broadly is that a costly exercise?

Question: Justin Barratt - CLSA - Analyst : Great, thanks very much.

Question: Ryan Sigdahl - Craig-Hallum Capital Group - Analyst : Hey, good afternoon, guys. Curious if the updates here to the litigation process has that caused any restriction on the buyback program?

Question: Ryan Sigdahl - Craig-Hallum Capital Group - Analyst : Thanks, Matt, Oliver.

Question: Rohan Sundram - MST Marquee - Analyst : Thank you. Hi, Matt, and Oliver. Just the one for me, questions have been largely answered. Maybe if we can just touch on what has been the customer response? What are customers saying to you at this point in time amidst all of this? Thanks.

Question: Rohan Sundram - MST Marquee - Analyst : Thanks, Matt. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. APRIL 02, 2025 / 8:30PM, LNW.OQ - Light & Wonder Inc Litigation Update Call

Question: Joseph Stauff - Susquehanna Financial Group, LLLP - Analyst : Thank you. Matt, I was just curious about how this affects essentially your new game pipeline? And how you're leading that into 2025 and '26, does it disrupt it? I know in the update or the amended claim, it mentioned a game yet to be released, so I was just curious about that and how overall this could affect your pipeline this year next?

Question: Joseph Stauff - Susquehanna Financial Group, LLLP - Analyst : Thank you.

Question: Sriharsh Singh - BofA Global Research - Analyst : Hey Matt, Oliver. Thank you. Two questions from my side. One, how does this impact Dragon Train 2.0 launches? Could there be any delays on that launch because of these litigations and you being extra cautious on the launch? And the second question is around new talent recruitment, given you have to be more cautious about who you bring into the company, maybe. At some point you have to -- you also have to check their phones and personal phones. Does it in any way attract your ability to recruit at a speed that you've done in the past? Thank you.

Question: Sriharsh Singh - BofA Global Research - Analyst : Thank you.

Question: Sam Bradshaw - Evans & Partners Pty Ltd - Analyst : Hi, Matt, and Oliver. There's a line from an exhibit in a more recent filing that says the defendants have already agreed to provide information on mathematical and game design of Dragon Train, (inaudible) and more the US version, and Monopoly take a chance, the ANZ version. You're able to just clarify why these later two games are included in that file? Thanks.

Question: Sam Bradshaw - Evans & Partners Pty Ltd - Analyst : No worries. Thanks, Matt.