Light & Wonder Board authorizes new $1B share buyback through June 2027

Light & Wonder, Inc.

Prior $750M program exhausted; purchased 11.2M shares (11.5% of outstanding) at avg $66.72, a 28% discount to $92.35 close.
New program authorized up to $1 billion, running through June 12, 2027, superseding prior Feb 2025 expiry.
CEO cites strong operating performance and on-track for $1.4B Consolidated AEBITDA target by 2025.
CFO notes net debt leverage at middle of 2.5-3.5x target range, providing capital allocation optionality.
Repurchases may be made via open market, private transactions, or Rule 10b5-1 plans at company discretion.

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