The Raketech Journal

Raketech, the iGaming performance marketing partner, monitors the development of
the COVID-19 virus and its potential effects on its industry closely. So far,
the strategies as how to handle the outbreak have been different from country to
country which makes the situation somewhat hard to predict. Raketech do not
anticipate substantial negative effects on the iGaming industry in the long
term, even though sports betting revenues most likely will be affected
negatively during 2020 due to the many cancelled sports events. Q1 2020 is so
far delivering revenues in line with expectations with January and February
amounting to approximately EUR 4.0m in total. During March, Raketech expect to
deliver revenues in line with the two previous months, excluding revenues from
the newly acquired Lead Republik Ltd.

In the fourth quarter 2019, total revenues for Raketech are expected to amount
to EUR 5.8 million. Reported EBITDA is estimated to EUR 1.6 million, which is
below expectations. The reported EBITDA is affected by extraordinary cost items
amounting to EUR 0.4m and loss allowance for trade receivables amounting to 0.3
million during the quarter. Furthermore operating profit during the fourth
quarter is affected by extraordinary items which relate to revaluation of
Goodwill of EUR 0.3m, without any cash effect, as a consequence of the continued
PPC-ban in Sweden.