Revenues

The breakdown of Codere Online’s revenues for the six months ended June 30, 2026 and 2025 is as follows:

No customer contributed more than 10% of revenue for the six months ended June 30, 2026, and 2025.

Personnel expenses

Personnel expenses as of June 30, 2026 and 2025 include expenses for wages, salaries, long term incentive plans, benefits (and other similar concepts) and social security and other social contributions expenses payable by Codere Online.

Other social contribution includes those expenses resulting from the LTIP executive bonus. For the six months ended June 30, 2026, it amounted to €6,222 thousand, compared with employee share-based compensation of negative €480 thousand for the six months ended June 30, 2025, mainly reflecting fair value adjustments to equity-settled share-based awards granted under the management incentive plan.

Depreciation and amortization

The breakdown of depreciation and amortization for the six months ended June 30, 2026 and 2025 is as follows:

Other operating expenses

The breakdown of other operating expenses for the six months ended June 30, 2026 and 2025 is as follows:

Codere Online recognizes lease payments as an operating expense on a straight-line basis over the term of the lease for the short-term leases (defined as leases with a lease term of 12 months or less) and leases of low value.

Professional services and other expenses mainly include: (i) Platform services; (ii) external providers for some of our sports odds; (iii) payment processing which allow our customers to deposit and withdraw using platforms and (iv) streaming services contracted to external parties offered to our customers as a complement to our sports betting offer.

Finance income/(cost), net

The breakdown of finance income/ (cost), net for the six months ended June 30, 2026 and 2025 is as follows:

Finance income/(cost), net for the periods ended June 30, 2026 and 2025 include both realized and unrealized foreign exchange gains/(losses) due to the fluctuation of the exchange rates between the euro and the other currencies used by Codere Online in its operations, mainly the Mexican peso, the Colombian peso, Argentine peso and the Panamanian balboa, as well as interest income related to Codere Online’s outstanding receivables from related parties.

Earnings per share

Basic earnings per share amounts are calculated by dividing (a) the net income/(loss) for the period attributable to equity holders of the Company by (b) the weighted average number of ordinary shares outstanding during the period.

Diluted earnings per share amounts are calculated by dividing the net income/(loss) for the period attributable to ordinary equity holders of the Company by the weighted average number of ordinary shares plus the weighted average number of ordinary shares that would be issued on the conversion of all the dilutive potential ordinary shares into ordinary shares, if any. The effect of restricted shares for the period ended June 30, 2026, qualified as a dilutive event while the effect of warrants, stock options, and deferred payment qualified as antidilutive events for said period. The effect of restricted shares, warrants, stock options and deferred payment for the period ended June 30, 2025, qualified as antidilutive events. In accordance with IAS 33, antidilutive potential ordinary shares, those that would increase earnings per share or decrease the loss per share if included, are disregarded in the calculation of diluted earnings per share.

As of June 30, 2026, the Company had 45,469,915 issued and outstanding shares.

Both basic and diluted earnings per share attributable to equity holders of Codere Online are calculated based on the following data, in each case for the six months ended June 30, 2026 and 2025.