LAs vegas, 6 march 2026

DISCLAIMER: This analysis is provided for educational purposes regarding the Company's capital structure. The information contained herein is derived from publicly filed SEC reports, including the Company’s Form 10-Q and Investor Presentations as of the financial period ended September 30, 2025. This document is intended to provide transparency into the Company's balance sheet rationalization and does not constitute an offer to sell or the solicitation of an offer to buy any securities.

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• Following the full prepayment of the promissory note in April 2025, the Company has continued a consistent strategy of debt retirement, reducing total debt by 37% ($25.9M) through the end of Q3 2025
• As of the Q3 2025 filing, the Company maintains a net leverage ratio of 1.2x Adjusted EBITDA
• As of Q3 2025, cash position remained solid at$22 million, supporting ongoinginvestment in platform innovation andgeographic expansion

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About Meridian Holdings Inc.

Meridian Holdings Inc., based in Las Vegas, Nevada, is an established B2B and B2C gaming technology company operating across multiple international markets. The Company's B2C division is represented by Meridianbet Group, a leading online sports betting and gaming operator founded in 2001, licensed in multiple jurisdictions across Europe, Africa, and South America. MRDN's B2B division, comprised of game developer Expanse Studios and iGaming platform GMAG, develops, licenses and distributes proprietary gaming platforms to an extensive list of global clients. Meridian Holdings other subsidiaries include RKings Competitions, a high-volume UK-based raffle ticker business, Mexplay, a regulated online casino in Mexico, and Classics for a Cause, Australia's leading subscription-based digital memberships and trade promotion lotteries.

Milan Koricanac
milan.koricanac@meridianbet.com

Source: Meridianbet Group

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