Light & Wonder, Inc. (L&W) intends to extend the share repurchase program of L&W’s outstanding common stock (Share Repurchase Program) currently authorized and ongoing to include buy-back of L&W’s CHESS Depositary Interests (CDIs) on the Australian Securities Exchange (ASX) from 7 November 2025.
L&W is currently undertaking the multi-year Share Repurchase Program, as first announced on 11 June 2024, that is authorized until 12 June 2027. The Share Repurchase Program was upsized on 31 July 2025 from U.S. $1 billion to U.S. $1.5 billion. Repurchases under the Share Repurchase Program of Nasdaq-listed shares of common stock (Shares) are expected to continue to occur in the U.S. until L&W delists from the Nasdaq, which is currently expected to occur on 13 November 2025(1).
L&W intends to extend the Share Repurchase Program to include a buy-back of CDIs listed on the ASX commencing on 7 November 2025. The total capacity remaining under the Share Repurchase Program for both Shares and ASX-listed CDIs as at the end of trading on the Nasdaq on 5 November 2025 was approximately U.S. $705 million. L&W
expects to utilize a meaningful share of the remaining available capacity prior to the end of 20252 across both the Nasdaq and ASX.
The timing and amount of Shares and CDIs bought back under the Share Repurchase Program will be determined by L&W from time to time at its discretion based on its evaluation of market conditions, share price, and other factors. L&W has no obligation to repurchase any Shares or CDIs, and the Share Repurchase Program may be suspended or
discontinued by L&W at any time.
Subject to capacity remaining under the Share Repurchase Program, L&W intends to continue the buy-back of ASX-listed CDIs after it delists from the Nasdaq and converts to an ASX standard listing1.
Goldman Sachs Australia Pty Ltd will be the broker who will offer to buy back CDIs on L&W’s behalf on the ASX.
Authorized for lodgement by:
Oliver Chow, Executive Vice President, Chief Financial Officer & Treasurer, Light & Wonder, Inc.
COMPANY CONTACTS
Media Relations
Andy Fouché: +1.206.697.3678
VP, Corporate Affairs and Communications
media@lnw.com
Investor Relations
Rohan Gallagher: +61.421.051.416
EVP, Global Chief Corporate Affairs Officer
ir@lnw.com
1 Subject to applicable U.S. and Australian regulatory, and other third-party, approvals and processes.
2 Share (including CDI) repurchase activity is subject to necessary Board approvals, capital allocation priorities and prevailing market conditions.