OPERATIONS

Corporate governance is the system of rules, practices and processes that Light & Wonder uses to control every action we take. This involves balancing the interests of a company’s many stakeholders — such as shareholders, Creators, customers, suppliers, financiers, government agencies and the communities in which we live and work.

From stringent compliance practices to comprehensive game programming security processes, corporate governance is woven throughout every aspect of our global business. We continue to uphold rigorous standards for financial reporting, quality assurance and security protocols.

The following policies reflect our commitment to serve as a good corporate steward and champion of responsible governance:

• Certificate of Incorporation

• Bylaws

• Corporate Governance Guidelines

• Code of Business Ethics & Conduct

• Human Rights Policy

• Supplier Code of Conduct & Supplier Diversity Policy

• U.K. Modern Slavery Act Statement

• Non-Discriminatory & Equal Employment Opportunity Policy

• Anti-Harassment Policy

• Conflict Minerals Global Policy

BOARD & COMMITTEE CHARTERS

• Board of Directors

• Committee Charters:

- Audit Committee Charter

- Compensation Committee Charter

- Nominating and Corporate Governance Committee Charter

- Compliance Committee Charter

- DEI Council

The appointment of Committee members and Chairs is carried out by the Board based on the recommendation of the Nominating and Corporate Governance Committee. Only independent Directors may serve on the Audit Committee, the Compensation Committee and the Nominating and Corporate Governance Committee. These Committees operate under written charters, approved by the Board, which also outline additional regulatory requirements that members of the Audit Committee and Compensation Committee must meet.

Our Economic Responsibility

Our organizational structure, bylaws and code of business conduct create and govern a corporate culture of ethics and integrity — from our Board of Directors and management to every Creator. The following corporate governance values help ensure we meet our financial obligations to our stakeholders.

• Financial auditing: Our Audit Committee strictly oversees all internal and external audit activities, including accounting and financial reporting.

• Compliance: At Light & Wonder, ethical behavior is paramount. We are in the process of establishing a Compliance Committee to oversee and manage our compliance program in accordance with the law. This committee will ensure that our operations align with legal requirements, particularly in light of our recent divestiture of the Lottery business.

• Security: We are committed to ongoing efforts to enhance security and ensure the highest level of quality in our games, aiming to deliver flawless experiences for players worldwide.

• Ethics and integrity: Our code of business conduct provides guiding principles on how to apply common sense, good judgment and ethical behavior in all business engagements on behalf of Light & Wonder — at every level of our organization.

• Diversity: Light & Wonder is dedicated to providing equal opportunity to all Creators and applicants regardless of race, color, age, gender identity, sexual orientation, national origin, marital or veteran status, level of ability, genetic information or any other basis protected by federal, state or local law. We provide equal employment opportunities with respect to recruitment, selection and all terms and conditions of employment. We strive to employ a diverse talent base from countries and cultures throughout the world.

Business Resiliency

Light & Wonder’s Business Resiliency program is a proactive initiative that ensures the protection of our work processes, technology, facilities, intellectual properties, brand and stakeholder relations. It is a top priority of the company. Light & Wonder has implemented an active security and operational risk management program, incorporating industry best practices in business continuity. Our aim is to mitigate potential risks to ensure the resilience of our operations and maintain the trust of stakeholders.

The Board of Directors relies on Executive Committee participation and formal quarterly and annual reviews to manage this program. We structure these reviews to align security and risk management efforts with current business strategies, management changes and technology shifts.

The process includes maintaining a “risk radar” evaluation to determine emerging potential issues and stay on top of current trends and pending threats.

We believe that minimizing risk starts with strong incident management practices. As part of our approach, we have a dedicated crisis management team equipped to handle unforeseen events. Recently, this team was activated in response to the challenges posed by the COVID-19 pandemic and political unrest in Ukraine.

Guiding our crisis management strategy are several objectives laid out by our Business Continuity Plan.

Staying Prepared For Anything

Light & Wonder’s global Business Continuity Plan (BCP) ensures the persistence of revenue for our customers across all our product lines. Each plan is connected to a comprehensive crisis management strategy. With an established escalation system in place, we can respond rapidly and effectively to any catastrophic incident.

The Light & Wonder emergency preparedness and response plan covers all company people, assets, properties and functions, with priority given to:

• Protection of life and personnel

• Essential functions

• Facility and regional operations

• The resumption of all business processes worldwide

THE OBJECTIVES OF A BCP INCLUDE:

Reducing loss of life and minimizing damage and losses

Reducing and mitigating disruptions to operations

Ensuring the performance of essential functions and operations

Executing a successful succession to office, as required, with accompanying authorities in the event that a disruption renders agency leadership unable, unavailable or incapable of assuming and performing their authorities and responsibilities of office

Ensuring that alternate facilities are available to continue to perform essential functions

Protecting essential facilities, equipment, vital records and other assets

Achieving a timely and orderly recovery from a BCP situation and maintaining essential functions to internal and external clients

To ensure our readiness for business continuity, Light & Wonder conducts dynamic and integrated tests, trainings and exercise programs to support the implementation of our BCPs.