theScore Investor Update November 2020

LEGAL DISCLAIMER
Some of the statements contained in this presentation are forward-looking statements within the meaning of U.S. securities law and forward-looking information within the meaning of
Canadian securities laws. Statements made in this presentation other than statements of historical fact that relate to future plans, events or performances are forward-looking
statements. Any statement containing words such as "may", "would", "could", "will", "believes", "plans", "anticipates", "estimates", "expects" or "intends" and other similar statements
which are not historical facts contained in this presentation are forward-looking, and these statements involve risks and uncertainties and are based on current expectations. Such
statements include but are not limited to statements regarding the Company’s plans related to its sports media, esports and sports betting businesses. A variety of factors, many of
which are beyond the control of the Company, may cause the Company's actual future results, performance or achievements to be materially different from any future results,
performance or achievements that may be expressed or implied by such forward-looking statements, including among other things, the enactment of enabling legislation and
regulations in the Province of Ontario and other Canadian jurisdictions to facilitate iGaming and the enactment of federal legislation to permit single-event sports wagering (including
the timing of such legislation and regulations being passed and proclaimed in force (if at all) and the terms and conditions imposed in such legislation and regulations on participants
in the iGaming industry), the receipt by the Company of all relevant licences and approvals under the relevant legislation and regulations as well as those risks which are discussed
under the heading "Risk Factors" in the Company's latest Annual Information Form as available on SEDAR at www.sedar.com and elsewhere in documents that the Company files
from time to time with securities regulatory authorities, including the most recently filed Management’s Discussion and Analysis. Should one or more of these risks or uncertainties, or
any unknown risks or uncertainties, materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results could differ materially from the
expectations expressed in these forward-looking statements.
The securities referenced herein or in relation hereto have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”),
or the applicable securities laws of any state of the United States and may not be offered or sold, nor may any solicitation of an offer to buy be accepted, in the United States or to a
U.S. Person, or person acting for the account or benefit of a U.S. Person, absent such registration or an available exemption from such registration requirements. This presentation
does not constitute an offer to sell or the solicitation of an offer to buy, nor may there be any sale of, any securities in any jurisdiction in which such offer or solicitation would be
unlawful absent registration or qualification under applicable law or an available exemption therefrom. As used herein “United States” and “U.S. Person” are as defined in Regulation
S under the U.S. Securities Act.
This presentation includes market share information and industry data and forecasts, which we obtained from independent industry publications and surveys that we commissioned
and our internal surveys. Although we believe these sources to be reliable, we have not independently verified any of the data nor ascertained the underlying economic assumptions
relied upon therein. Some data is also based on our estimates, which are derived from our review of internal surveys, as well as independent sources. We cannot and do not provide
any assurance as to the accuracy or completeness of such included information. Market forecasts, in particular, are likely to be inaccurate, especially over long periods of time.

Table of Contents
1 Company Overview 3
2 Online Gaming Opportunity in Canada 15
3 Q1 F2021 Update 23

STRICTLY CONFIDENTIAL
Company Overview

Who We Are
John Levy
Founder & CEO
Benjie Levy
President & COO
Alvin Lobo
CFO
Meet theScore’s senior leadership team
l A management team with a proven track record of building
and growing successful communications, media and gaming
businesses
l Founded national Canadian sports TV network theScore,
selling to Rogers Media for CAD $167M in August 2012
l Spun-out theScore’s digital business to focus on the
continued growth of our industry leading mobile app
business
l Publicly traded on the Toronto Stock Exchange (SCR)
Company Snapshot
Founded: 2012
Locations: Toronto, Ontario | New York City, NY
# of Employees 265
Key Ownership (1):
John Levy & Family (24.1% Class A Shares, 100% Special Voting Shares), Relay Ventures (16.0% Class A Shares),
Penn Interactive Ventures (4.2%)
Outstanding Shares (1): ~ 400 million Class A Shares, 5,566 Special Voting Shares
(1) Key Ownership and Outstanding Shares does not include Fengate Asset Management’s $40 million convertible debenture. If converted, Fengate would own 12.6% of Class A Shares and pro forma outstanding
shares at conversion are ~ 458 million Class A shares.

Our Platforms
l Massively engaged audience on our sports media app, with
over 4 million monthly active users opening the app 100+
times a month EACH on average. Monthly social media
reach of ~100 million
l Second most popular sports app in North America, and
dominant mobile sports app in Canada, positioning us
perfectly to capitalize on the growing momentum around
regulating and expanding online sports betting there
l An award-winning sportsbook, theScore Bet, which is
uniquely integrated with theScore’s popular sports media
app
l Market access agreements providing potential access to
offer mobile sports betting services to approx. 30% of U.S.
population (1)
l Leading independent provider of on-demand esports video
coverage, with more than 1.5 million subscribers on our
YouTube channel
One of the most popular sports media apps in North America, with a dominant position in
Canada + cutting edge, natively built sports betting platform, along with a rapidly growing
esports channel
(1) Subject to receipt of all relevant licenses and approvals.

2011: Establishes User
Base
theScore establishes
itself as a market
leader in the mobile
sports coverage space
with ~1 million Monthly
Active Users
2019: Expanding
Partnerships
theScore enters into a
multi-state market
access agreement with
Penn National Gaming
for sports betting and
online gaming market
access in 11 states
Our History
2007 2011 2012 2013 2015 2019
2012: User
Engagement Increases
Engaged and loyal
userbase with users
opening theScore app
on average of ~60x per
month
2019: theScore in New
Jersey
theScore partners with
Monmouth Racetrack in
New Jersey for sports
betting and online
gaming market access
2019: Betting
Technology
theScore partners with
Bet.Works to deliver its
backend technology,
trading and risk
management
2007: The Beginning
theScore is the first
multisport news and
data app launched on
Apple’s App Store
2012: Sale of TV
Business
theScore, Inc is created
through a digital
business spin out when
TV company sold to
Rogers Media for $167
mm (CAD)
2013: Monetization of
Userbase
theScore begins to
monetize userbase
through preliminary
advertising platform
generating > $5mm
(CAD) in revenue
2015: esports Platform
Developed
esports YouTube
channel currently has
1.4million subscribers
2020
CO
2020: Launch in
Colorado
theScore launched
sports betting
operations in Colorado
on September 2, 2020
2020: Launch in
Indiana
theScore launched
sports betting
operations in Indiana
on September 17, 2020
2019: Enhancing User
Integration
In November 2019, the
Company unveils FUSE
by theScore, which
provides a faster and
tighter navigation
between theScore and
its sports betting app,
theScore Bet
2019: theScore Bet
Sportsbook
theScore Bet mobile
sportsbook launches in
New Jersey in
September 2019,
becoming the first and
only US media company
to create and operate a
mobile sportsbook
2020: Solidifies Cross
Platform Reach
theScore continues to
solidify its place as a
leading sports media
app, with 105+ million
monthly reach in
February 2020
NJ
IN
theScore has two decades of experience innovating and building best-in-class sports
platforms that drive real customer engagement

(1) comScore data based on average of North American mobile monthly unique visitors December 2018 – February 2020 (Pre-COVID). (2) Represents February 2020 monthly figures (Pre-COVID).
Exceptional Brand Strength and Large and Highly
Engaged Customer Userbase
Since first launching in 2007, theScore has developed into one of the most popular sports
media apps in North America, driven by its authentic content geared towards sports bettors
Best-In-Class Sports Media Brand (1) Total Cross Platform Monthly Reach (2)
105+mm1 ESPN
2 theScore
3 CBS Sports
4 Bleacher Report
5 Yahoo Sports

79
86 88
97
110
FY2016A FY2017A FY2018A FY2019A FY2Q20A
137
101
78 74
48
theScore has maintained a leading market position evidenced by a vast reach and avid
userbase
Note: Fiscal year ending August 31. (1) comScore data for North America February 2020 (Pre-COVID). (2) Shareablee Power Rankings represents monthly average reach in February 2020 across social platforms.
Authentic Sports Brand Catering to Highly Engaged
Bettors
theScore Average Monthly Sessions Per Active UserAverage Minutes Per Visitor (1)
CAGR: 9.9%
(# of sessions)(total monthly minutes)
Media App Chat Engagement
ü 39% - 44% of total MAUs viewed one or
more public chat discussion
ü 46% - 50% of all users that sent
message via public chat sent betting
related correspondence
ü 18% - 20% of all messages sent via
public chat had betting related content
Rank Publisher Parent Company Actions / Fan Index
1 Overtime Sports 510
2 theScore 385
3 Warner Media 241
4 Chernin / Penn 168
5 SLAM Media 166
Average: 100
Top 5 US Sports Media Power Ranking (2)

theScore has all the key ingredients to be a market leader in the projected US$30+ billion
North American sports-led online gaming industry (1)
theScore is Uniquely Positioned for Success
in Sports Betting
Authentic Brand for Avid Sports Fans and
Bettors
l 2nd most popular sports app in North America
l Dominant mobile sports app in Canada
l 453 million average monthly sessions (2)
Highly Engaged and Quality Userbase
l 4.1 million monthly active users (2)
l Average of 110 sessions per month per
active user (2)
Product Differentiation
l Provides seamless integration between
sports media and betting
l Creates ecosystem of content and data
to inspire betting opportunities
Market Access Agreements for Rapidly
Expanding Industry
l US$18bn+ online gaming market
opportunity by 2025
l Access to 13 states and approximately 30%
of US population
(1) Source: Wall Street research. (2) As of FY 2Q20 (Pre-COVID).

Our Competitive Advantage: A Unique and Integrated
Approach to Sports and Betting
Fully integrated sports media and betting platform to monetize a highly engaged customer userbase
through sports betting in a frictionless manner
ü Ability to build betting
slip in media app
ü Betting lines embedded
in content
ü Deep personalization of
content
ü Social functionality to
inspire betting
ü Integrated approach
reduces CAC and
drives engagement
and retention
ü Best-in-class user
experience
ü Media users’ favorites
sync automatically to
show personalized bet
options
FUSE
#2 sports
media app
behind ESPN
105mm
monthly cross
platform
reach
4mm+
monthly
active app
users
Sports Media Sports Betting
Live in New
Jersey,
Colorado, and
Indiana
Market access
in 13 states to
~30% of US
population
(1) FUSE is currently available on iOS.
theScore Bet represents a unique and differentiated approach to sports betting, bringing the betting transaction as close as
possible to the sports fan’s media experience
(1)

Deeply Integrated and Immersive User Experience
Integration Social Ecosystem Content Personalization
l Seamless integration linking
the media and sports betting
platform creating fast and
easy navigation between the
two platforms (1)
l Highly engaging content
featuring best of national
articles and local beat writers
l In-house team of 40+ writers
l In February 2020, the
Company sent 3.5 billion
mobile push notifications
l User behavior is aggregated
and able to be leveraged to
drive sports betting activity
and additional content
l App incorporates news
articles, betting line
movements and live odds
based on user behavior
l Social related app features,
with the goal of empowering
sports fans’ conversations
l Conversations and topics
skew towards gambling
content
theScore has a customer-centric operating philosophy promoted through a highly engaged
community, rich and digestible content and deep personalization along with its media and
betting product integration
(1) Currently available on iOS.

Introducing Bet Section on theScore Media App
Personalized Markets Bet Tracking
Exclusive Promotions &
Community Polling
l Bet Section surfaces the most relevant
markets available on theScore Bet based
on sports fans’ favorite teams and leagues
on theScore, helping them discover the
bets they’re most likely to care about
l Sports fans will be served exclusive and
personalized promotions for theScore Bet
l See how picks are polling with other users
of theScore, cast your vote and use the
results to start building a bet slip
l When a bet is placed on theScore Bet, it
will automatically be tracked live within
Bet Section on theScore
l Fans can follow their wagers live in
theScore’s sports app - including seeing
real-time cash out offers
In November 2020, theScore introduced Bet Section (1) on theScore App, delivering media app
users a suite of new personalized betting features, further deepening theScore’s industry-
leading media and gaming integrations
(1) Bet Section is currently available for all United States users of theScore app on iOS devices with Bet Mode activated.

910
2,354
3,930
6,409
8,385
10,428 11,430
526
863
1,222
1,809
2,779
4,412
6,686
$1,435
$3,217
$5,152
$8,218
$11,164
$14,840
$18,116
2019A 2020E 2021E 2022E 2023E 2024E 2025E
Sports Betting iGaming
l The repeal of PASPA has accelerated the number of states seeking new regulations to permit additional forms of gambling through sports betting
l Total US Online Gaming market size expected to grow to US$18+ billion by 2025, representing a 52.6% CAGR from 2019 to 2025
— Other industry participants estimate the market could grow to in excess of US$40 billion when fully ramped
l Online gaming market expected to be largely driven by sports betting, which is projected to represent 63% of the total 2025E online market
l Substantial opportunity for additional penetration as online gross gaming revenue represented ~2% of the total gaming market (land-based casinos
and online gaming) in 2019 and expected to reach ~19% by 2025E (1)
Source: Wall Street research. (1) Assumes constant land-based gaming revenue of $77 billion per American Gaming Association.
Rapid Growth of US Online Gaming Market
Projected US Online Gaming Market Size
(US$ in millions)
Industry Overview
’19 – ’25 CAGR: 52.6%
US regulated digital gaming market expected to grow by a 52.6% CAGR over the next five years
to US$18+ billion of annual revenue
4
13
4 5 10 15 20 28
20 27 34 40 44 45
#ofstates

l 44 states are expected to legalize sports betting and / or iGaming by 2025
TX
CO
KS MO
IA
LA
MS
IN OH
ME
MA
NJ
Market Access
MI
Sports Betting / iGaming
Legalized
Market Access + Sports Betting /
iGaming Legalized
MI
theScore’s “Access” to a Large and Growing TAM in
the United States
Source: Wall Street research. (1) 3rd skin market access in MI not currently actionable. (2) Based on theScore’s current market access states.
theScore has executed market access agreements across 13 states, giving the Company
access to over 30% of the US population
theScore Market Access by State
$6.4bn
Total 2025E
Online GGR (2)
13 States
and Actively
Pursuing New
Jurisdictions
73.3mm
Adult
Population,
Representing
over 30% of
US(2)
TAM for Market Access States:
(US$ in millions)
(1)

Online Gaming Opportunity in Canada

Canada Approaching a “PASPA Moment”
Momentum is growing at the Provincial and Federal levels in Canada to create a competitive
and regulated online sports betting and iGaming market – with theScore perfectly positioned
to capitalize as the dominant mobile sports media brand.
l On November 6, 2020, the Ontario Provincial Government announced the
introduction of legislation to facilitate the expansion of internet gaming (“iGaming”) in
the province as part of its 2020 Budget – Protect, Support, Recover
— If passed, this legislation would give the Alcohol and Gaming Commission of
Ontario (“AGCO”), through a dedicated subsidiary, authority to manage the
relationship between the provincial government and private iGaming operators
— The Province and the AGCO will now continue to work with key stakeholders,
including theScore, on the design of an iGaming market for Ontario that would
“reflect consumer preferences and foster an exciting gaming experience, while
ensuring that appropriate responsible gaming protections are in place”
— On November 3, 2020, legislation (Private Members Bill C-218) was reintroduced
in the House of Commons to legalize single event wagering at the federal level in
Canada. This bill is due to be debated again early in 2021
“Canada is theScore’s home turf and we
are eager to bring our award-winning
sportsbook, theScore Bet, to our highly
engaged fans across Ontario, a huge
market with a population larger than all but
four U.S. states.”
– John Levy
“Everything has changed: Canadian
companies looking to cash in as sports-
betting legalization spreads”
– Bloomberg, November 2020
“Online gambling firms expect Ontario to
lift key operator ban”
– Financial Post, November 2020
Recent Media Coverage

theScore is Uniquely Positioned to Capitalize in Ontario
As the dominant mobile sports news and media app (1,3) in Canada – with over 1.4 million
users (2) in Ontario alone – theScore is uniquely situated to capitalize on the anticipated
expansion of online gaming in the province State /
Province
Total Pop.
(in ‘000s)
Adult Pop.
(in ‘000s)
theScore
Media App
Users (2)
(in ‘000s)
California 39,512 29,587 1,156
Texas 28,996 20.785 936
Florida 21,478 16,763 979
New York 19,454 14,933 910
Ontario 14,567 11,801 1,434
Pennsylvania 12,802 9,824 574
Sources: The U.S. Census Bureau and Statistics Canada.
(1) Based on comScore data on average of Canadian mobile monthly unique visitors December 2018 – February 2020 (Pre-COVID).
(2) Yearly active users.
(3) comScore data on monthly active users for multi-sport news and data apps in Canada, September 2020.
ON
theScore has almost 2x the monthly active
users of TSN and over 8x the monthly active
users of ESPN in Canada (3)
1
2
3
4
5

Online Sports Betting and iGaming in Ontario Could
Surpass US$2 Billion in GGR
Sources: Wall Street research, the New Jersey Division of Gaming Enforcement, the U.S. Census Bureau, and Statistics Canada.
(1) Assumes a sports betting GGR of US$77 per adult and iGaming GGR of US$48 per adult (as of 2019).
(3) Based on LTM October 31, 2020 reported GGR per the NJ DGE and assumes a sports betting GGR of US$46 per adult and iGaming GGR of US$130 per adult.
(1) (2) (3)
Ontario’s large online market potential is a function of its sizable population (over 14.5
million), which would rank it as the fifth largest U.S. state in terms of population
l Extrapolating from New Jersey as well as mature markets like the UK and Australia implies a market potential for Ontario of at least
US$1.5 billion to US$2.1 billion in Gross Gaming Revenue
Projected Ontario Online Gaming Market Size
(US$ in millions)
909
661
546
566 1,027
1,539
$1,475
$1,688
$2,084
Implied from AUS Implied from UK Implied from NJ
Online Sports Betting iGaming

Total Illustrative Annual GGR Opportunity: $59mm – $235mm
Potential Ontario GGR Opportunity
(1) Based on the midpoint of market size estimates as shown on page 18.
(2) Assumes a ~30% cross-sell rate between sports betting into online casino.
Ontario – Online Sports Betting Ontario – Online Casino
$33
$66
$99
$132
$26
$51
$77
$103
(US$ in millions) (US$ in millions)
5.0% 10.0% 15.0% 20.0% 2.5% 5.0% 7.5% 10.0%
Illustrative
Market
Share % (2)
Illustrative
Market
Share % (2)
Estimated Market Size (1): $661mm Estimated Market Size (1): $1,027mm
Illustrative
GGR
Illustrative
GGR

Canada Potentially a US$5+ Billion GGR Market
Projected Canada Online Gaming Market Size
(US$ in millions)
2,338
1,701
1,404
1,458 2,642
3,959
$3,796
$4,342
$5,363
Implied from AUS Implied from UK Implied from NJ
Online Sports Betting iGaming
(1) (2) (3)
Extrapolating from New Jersey as well as mature markets like the UK and Australia implies a
market potential for Canada of at least US$3.8 billion to US$5.4 billion in GGR
(3) Based on LTM October 31, 2020 reported GGR per the NJ DGE and assumes a sports betting GGR of US$46 per adult and iGaming GGR of US$130 per adult.

Canada is a Huge Opportunity for theScore
As the dominant mobile sports news and media app (1) in Canada – with over 3.7 million
users in Canada – theScore is uniquely situated to capitalize were regulated online sports
betting to roll-out nationwide
Province Total Pop.
(in ‘000s)
Adult Pop.
(in ‘000s)
theScore
Media App
Users (2)
(in ‘000s)
Ontario 14,567 11,801 1,434
Quebec 8,485 6,900 692
British Columbia 5,071 4,203 583
Alberta 4,371 3,401 543
Manitoba 1,369 1,060 120
Saskatchewan 1,174 902 104
Other Provinces 2,551 2,099 274
Sources: The U.S. Census Bureau and Statistics Canada.
(1) Based on comScore data on average of Canadian mobile monthly unique visitors December 2018 – February 2020 (Pre-COVID).
(2) Annual users.

Potential Canada GGR Opportunity
(1) Based on the midpoint of market size estimates as shown on page 20.
(2) Assumes a ~30% cross-sell rate between sports betting into online casino.
Total Illustrative Annual GGR Opportunity: $151mm – $604mm
Canada – Online Sports Betting Canada – Online Casino
(US$ in millions) (US$ in millions)
5.0% 10.0% 15.0% 20.0% 2.5% 5.0% 7.5% 10.0%
Illustrative
Market
Share % (2)
Illustrative
Market
Share % (2)
Estimated Market Size (1): $1,701mm Estimated Market Size (1): $2,642mm
Illustrative
GGR
Illustrative
GGR
$85
$170
$255
$340
$66
$132
$198
$264

Q1 F2021 Update

Q1 F2021 Update
l theScore successfully began the multi-state expansion of its mobile sportsbook, theScore Bet, launching in both Colorado
and Indiana in September 2020
— Launched in these new states with cutting-edge multi-state wallet and account functionality, providing users with a
seamless cross-state experience via a single mobile app
— Launched Bet Section on theScore media app in November 2020
— Launching theScore Bet next in Iowa early in CY 2021, subject to regulatory approval
l F2021 is already off to a strong start, with total gaming handle in September up 500% Y-o-Y with that momentum
continuing into October
l Media advertising sales in September also set a new record for a single month, as brands were eager to engage with fans
around an extremely busy and unique sports calendar
l In September 2020, graduated to the Toronto Stock Exchange from the TSX Venture Exchange
With sports leagues back in action, our media and gaming operations are generating significant
momentum in early Q1 F2021 (September – November 2020)
Source: theScore public filings, Q4 F2020 earnings conference call transcript, and Q4 F2020 earnings call presentation.

Mobile Sports Engagement Thriving Amid Declines
in Broadcast Viewership
While many sports broadcasters have seen a significant drop in ratings, theScore has kept users
engaged by helping them navigate the changing sports landscape
-61%
-49%
-45%
-42%
-40%
-38%
-37%
-30%
-16%
-13%
-70% -60% -50% -40% -30% -20% -10% 0%
Stanley Cup Finals
NBA Finals
U.S. Open (Tennis)
U.S. Open (Golf)
MLB Division Series
Stanley Cup Playoffs
NBA Playoffs
NCAAF Regular Season
WNBA Regular Season
NFL Regular Season
Sports Television Viewership Trend Y-o-Y
+25%
+5%
+38%
+26%
+13%
+2%
+8%
+5%
+27%
+4%
0% 10% 20% 30% 40%
theScore User Engagement Y-o-Y
Source: Nielsen and theScore, October 2020.

theScore Investor Update November 2020

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