STRICTLY PRIVATE & CONFIDENTIAL Project O2 Downside Analysis March 4th, 2019

STRICTLY PRIVATE & CONFIDENTIAL 2 Key TakeawaysDetailed Leverage Analysis We analyzed leverage multiples assuming a downside scenario including:5% annual decline in Ignite admissions revenue, all of which flows through to EBITDA5% annual decline in food, beverage, and merchandise revenue, assuming a 30% EBITDA margin5% increase in purse money to teams, all of which comes out of the tracks’ allocation2% decline in NASCAR sponsorship revenue, assuming an 80% EBITDA marginAssumes a $44 per share purchase price and buyout for cash of all Brian France sharesAssuming a Sensitivity Case including the downside scenario and implementation of levers to decrease leverage (including synergies, capital expenditures phased down to ~$100mm in 2020 and capped at $80mm in 2021+, dividends to the France family cut to $25mm in 2020 and to $20mm in 2021+ and proceeds from asset sales of$150mm in 2021 and $150mm in 2022), Nova can delever to:1.2x gross leverage by 2024 assuming all debt at L+3251.4x gross leverage by 2024 assuming all debt at L+450No leverage by 2024 assuming $500mm of equityWithout these levers, assuming the “worst-case scenario” (“Downside Case”), Nova can delever to:3.6x gross leverage by 2024 assuming all debt at L+3253.8x gross leverage by 2024 assuming all debt at L+4501.7x gross leverage by 2024 assuming $500mm of equity and remainder of debt at L+3251.9x gross leverage by 2024 assuming $500mm of equity and remainder of debt at L+420In the Baseline Case Nova ends 2024 with 1.5x gross leverage (assuming all debt at L+325) and 1.6x gross leverage (assuming all debt at L+450)Nova reduces leverage by approximately 0.5x turns of EBITDA annually; if media rights after 2024 were reduced by 25%, Nova’s leverage would remain relatively flat commencing in 2025 but would still delever at about 0.4x thereafter Note: Assumes ISC purchase price of $44 / share. Assumes PF EBITDA includes cash distributions from equity investments (~30mm per year). Equity value based on fully diluted shares outstanding of 43,428,442 (consisting of 23,776,923 Class A shares, 19,644,069 Class B shares, and 18,792 options with a weighted-average strike price of $25.65 per Ignite’s FY2018 10K); assumes restricted stock awards of 367,895 per Ignite’s FY2018 10K are included in the basic share count and Family roll of 14,919,745 shares (which assumes buyout of 3,488,550 shares held by Brian France for cash). Assumes $100mm in minimum cash and $75mm fees and expenses.

STRICTLY PRIVATE & CONFIDENTIAL 2 Selected Key Risks to Ignite Standalone Value Event attendance trends could continue their long-term downward trend – Ignite admissions revenue is half what it was ten years ago ($236 million in 2008, $112 million in 2018)Viewership continues to decline at a materially worse rate than other sports (down 45% since 2005)More sponsors could fail to renew their agreements, and new sponsors could sign agreements at lower rates (as happened in many recent sponsorship losses, or recent notable losses such as DC Solar)Capital expenditure requirements could be significantly larger than expected in order to modernize the rest of the tracks outside of Daytona and PhoenixMedia rights after 2025 could renew at lower amounts given viewership trends in the sport and lack of profitability from Fox / Comcast perspectiveTeams could demand larger share of media rights after 2020, decreasing Ignite’s share and therefore its profitabilitySanction agreement renewal after 2021 could negatively impact the economics of the sport and operating the tracksShift to electrification and ride-sharing could divert car manufacturer dollars away from motorsports and into research & development of new cars and new servicesHigh leverage and non-investment grade credit profile increase risk to the shareholdersExisting litigation may create additional expenseStandalone Ignite earnings for 2019 could be lower than forecast, as they have been for each of the last five yearsNova tax profile may change due to change in laws or change in accelerated depreciation rules

STRICTLY PRIVATE & CONFIDENTIAL Financial Profile Baseline Case || $44 / Share || All Debt L+325 ($ in millions) PF 2016A 2017A 2018E (30-Jun-2019) 2019E 2020E 2021E 2022E 2023E 2024E '18E - '24E Adj. EBITDA (incl. Synergies) $ 333 $ 323 $ 307 $ 326 $ 345 $ 368 $ 401 $ 426 $ 438 $ 450 6.6 % % Margin 23.3 % 22.7 % 21.4 % 22.3 % 23.1 % 24.0 % 25.0 % 25.5 % 25.2 % 24.9 % Free Cash Flow H1 2019E H2 2019E Adj. EBITDA (incl. Synergies) $ 333 $ 323 $ 307 $173 $173 $ 368 $ 401 $ 426 $ 438 $ 450 (-) Net Interest Expense (43) (80) (73) (65) (55) (44) (-) Cash Taxes (14) (35) (44) (51) (54) (59) (-) Capital Expenditures (153) (160) (170) (68) (68) (118) (112) (105) (105) (107) (-) Dividends (15) (30) (30) (30) (30) (30) Levered Free Cash Flow $ 32 $ 105 $ 142 $ 176 $ 194 $ 211 % Conversion 18.7 % PF 28.5 % 35.5 % 41.2 % 44.2 % 46.8 % Balance Sheet (30-Jun-19) 2019E 2020E 2021E 2022E 2023E 2024E Total Debt $ 1,519 $ 1,486 $ 1,381 $ 1,239 $ 1,063 $ 869 $ 658 (-) Cash and Cash Equivalents (100) (100) (100) (100) (100) (100) (100) Net Debt $ 1,419 $ 1,386 $ 1,281 $ 1,139 $ 963 $ 769 $ 558 Gross Leverage 4.7 x 4.3 x 3.7 x 3.1 x 2.5 x 2.0 x 1.5 x Note: Assumes ISC purchase price of $44 / share. Assumes PF EBITDA includes cash distributions from equity investments (~30mm per year). Equity value based on fully diluted shares outstanding of 43,428,442 (consisting of 23,776,923 Class A shares, 19,644,069 Class B shares, and 18,792 options with a weighted-average strike price of $25.65 per Ignite’s FY2018 10K); assumes restricted stock awards of 367,895 per Ignite’s FY2018 10K are included in the basic share count and Family roll of 14,919,745 shares (which assumes buyout of 3,488,550 shares held by Brian France for cash).Assumes $100mm in minimum cash and $75mm fees and expenses. 4

STRICTLY PRIVATE & CONFIDENTIAL Financial Profile Baseline Case || $44 / Share || All Debt L+450 ($ in millions) PF 2016A 2017A 2018E (30-Jun-2019) 2019E 2020E 2021E 2022E 2023E 2024E '18E - '24E Adj. EBITDA (incl. Synergies) $ 333 $ 323 $ 307 $ 326 $ 345 $ 368 $ 401 $ 426 $ 438 $ 450 6.6 % % Margin 23.3 % 22.7 % 21.4 % 22.3 % 23.1 % 24.0 % 25.0 % 25.5 % 25.2 % 24.9 % Free Cash Flow H1 2019E H2 2019E Adj. EBITDA (incl. Synergies) $ 333 $ 323 $ 307 $173 $173 $ 368 $ 401 $ 426 $ 438 $ 450 (-) Net Interest Expense (53) (99) (91) (82) (71) (58) (-) Cash Taxes (12) (30) (39) (46) (50) (55) (-) Capital Expenditures (153) (160) (170) (68) (68) (118) (112) (105) (105) (107) (-) Dividends (15) (30) (30) (30) (30) (30) Levered Free Cash Flow $ 25 $ 91 $ 129 $ 163 $ 182 $ 200 % Conversion 14.6 % PF 24.7 % 32.1 % 38.3 % 41.5 % 44.5 % Balance Sheet (30-Jun-19) 2019E 2020E 2021E 2022E 2023E 2024E Total Debt $ 1,519 $ 1,493 $ 1,402 $ 1,273 $ 1,110 $ 928 $ 728 (-) Cash and Cash Equivalents (100) (100) (100) (100) (100) (100) (100) Net Debt $ 1,419 $ 1,393 $ 1,302 $ 1,173 $ 1,010 $ 828 $ 628 Gross Leverage 4.7 x 4.3 x 3.8 x 3.2 x 2.6 x 2.1 x 1.6 x Note: Assumes ISC purchase price of $44 / share. Assumes PF EBITDA includes cash distributions from equity investments (~30mm per year). Equity value based on fully diluted shares outstanding of 43,428,442 (consisting of 23,776,923 Class A shares, 19,644,069 Class B shares, and 18,792 options with a weighted-average strike price of $25.65 per Ignite’s FY2018 10K); assumes restricted stock awards of 367,895 per Ignite’s FY2018 10K are included in the basic share count and Family roll of 14,919,745 shares (which assumes buyout of 3,488,550 shares held by Brian France for cash).Assumes $100mm in minimum cash and $75mm fees and expenses. 4

STRICTLY PRIVATE & CONFIDENTIAL Financial Profile Downside Case || $44 / Share || All Debt L+325 ($ in millions) PF 2016A 2017A 2018E (30-Jun-2019) 2019E 2020E 2021E 2022E 2023E 2024E '18E - '24E Downside Adj. EBITDA (excl. Synergies) $ 333 $ 323 $ 307 $ 315 $ 323 $ 330 $ 312 $ 316 $ 318 $ 320 0.7 % % Margin 23.3 % 22.7 % 21.4 % 21.7 % 21.9 % 21.8 % 20.0 % 19.8 % 19.2 % 18.6 % Free Cash Flow H1 2019E H2 2019E Baseline Adj. EBITDA (incl. Synergies) $ 333 $ 323 $ 307 $ 173 $ 173 $ 368 $ 401 $ 426 $ 438 $ 450 (-) Synergies (3) (3) (20) (30) (30) (30) (30) (-) (5.0)% ISC Admissions Decline (3) (3) (11) (16) (20) (25) (29) (-) (5.0)% ISC Food, Bev & Merch Decline (0) (0) (1) (2) (2) (2) (3) (-) 5.0 % Increase of TV $ to Teams 0 0 0 (22) (23) (24) (25) (-) (2.0)% NASCAR Sponsorship Revenue De cline (6) (6) (6) (20) (35) (40) (44) Downside Adj. EBITDA (excl. Synergies) $ 333 $ 323 $ 307 $162 $162 $ 330 $ 312 $ 316 $ 318 $ 320 (-) Net Interest Expense (43) (83) (80) (77) (73) (69) (-) Cash Taxes (12) (25) (20) (21) (20) (21) (-) Capital Expenditures (153) (160) (170) (68) (68) (173) (112) (105) (105) (107) (-) Dividends (15) (30) (30) (30) (30) (30) Levered Free Cash Flow $ 24 $ 19 $ 70 $ 83 $ 89 $ 93 % Conversion PF 14.6 % 5.9 % 22.4 % 26.4 % 28.0 % 29.2 % Balance Sheet (30-Jun-19) 2019E 2020E 2021E 2022E 2023E 2024E Total Debt $ 1,519 $ 1,495 $ 1,475 $ 1,406 $ 1,322 $ 1,233 $ 1,140 (-) Cash and Cash Equivalents (100) (100) (100) (100) (100) (100) (100) Net Debt $ 1,419 $ 1,395 $ 1,375 $ 1,306 $ 1,222 $ 1,133 $ 1,040 Gross Leverage 4.8 x 4.6 x 4.5 x 4.5 x 4.2 x 3.9 x 3.6 x Note: Assumes ISC purchase price of $44 / share. Assumes PF EBITDA includes cash distributions from equity investments (~30mm per year). Equity value based on fully diluted shares outstanding of 43,428,442 (consisting of 23,776,923 Class A shares, 19,644,069 Class B shares, and 18,792 options with a weighted-average strike price of $25.65 per Ignite’s FY2018 10K); assumes restricted stock awards of 367,895 per Ignite’s FY2018 10K are included in the basic share count and Family roll of 14,919,745 shares (which assumes buyout of 3,488,550 shares held by Brian France for cash).Assumes $100mm in minimum cash and $75mm fees and expenses. 4

STRICTLY PRIVATE & CONFIDENTIAL Financial Profile Sensitivity Case || $44 / Share || All Debt L+325 ($ in millions) PF 2016A 2017A 2018E (30-Jun-2019) 2019E 2020E 2021E 2022E 2023E 2024E '18E - '24E Downside Adj. EBITDA (incl. Synergies) $ 333 $ 323 $ 307 $ 318 $ 328 $ 350 $ 342 $ 346 $ 348 $ 350 2.2 % % Margin 23.3 % 22.7 % 21.4 % 21.8 % 22.2 % 23.1 % 22.0 % 21.6 % 21.0 % 20.4 % Free Cash Flow H1 2019E H2 2019E Downside Adj. EBITDA (excl. Synergies) $ 333 $ 323 $ 307 $ 162 $ 162 $ 330 $ 312 $ 316 $ 318 $ 320 (+) Synergies 3 3 20 30 30 30 30 Downside Adj. EBITDA (incl. Synergies) $ 333 $ 323 $ 307 $164 $164 $ 350 $ 342 $ 346 $ 348 $ 350 (-) Net Interest Expense (43) (80) (68) (52) (39) (29) (-) Cash Taxes (12) (31) (31) (35) (37) (39) (-) Change in NWC (7) 29 0 0 0 0 0 0 0 0 (-) Capital Expenditures(-) Dividends (153) (160) (170) (68) (68)(15) (99)(25) (80)(20) (80)(20) (80)(20) (80)(20) Levered Free Cash Flow $ 26 $ 115 $ 143 $ 159 $ 171 $ 182 % Conversion 15.6 % 32.8 % 41.8 % 46.0 % 49.3 % 52.0 % Net Proceeds from Asset Sales $ 0 $ 0 $ 150 $ 250 $ 0 $ 0 PF Balance Sheet (30-Jun-19) 2019E 2020E 2021E 2022E 2023E 2024E Total Debt $ 1,519 $ 1,493 $ 1,378 $ 1,085 $ 776 $ 604 $ 423 (-) Cash and Cash Equivalents (100) (100) (100) (100) (100) (100) (100) Net Debt $ 1,419 $ 1,393 $ 1,278 $ 985 $ 676 $ 504 $ 323 Gross Leverage 4.8 x 4.5 x 3.9 x 3.2 x 2.2 x 1.7 x 1.2 x Note: Assumes ISC purchase price of $44 / share. Assumes PF EBITDA includes cash distributions from equity investments (~30mm per year). Equity value based on fully diluted shares outstanding of 43,428,442 (consisting of 23,776,923 Class A shares, 19,644,069 Class B shares, and 18,792 options with a weighted-average strike price of $25.65 per Ignite’s FY2018 10K); assumes restricted stock awards of 367,895 per Ignite’s FY2018 10K are included in the basic share count and Family roll of 14,919,745 shares (which assumes buyout of 3,488,550 shares held by Brian France for cash).Assumes $100mm in minimum cash and $75mm fees and expenses. 4

STRICTLY PRIVATE & CONFIDENTIAL Financial Profile Downside Case || $44 / Share || All Debt L+450 ($ in millions) PF 2016A 2017A 2018E (30-Jun-2019) 2019E 2020E 2021E 2022E 2023E 2024E '18E - '24E Downside Adj. EBITDA (excl. Synergies) $ 333 $ 323 $ 307 $ 315 $ 323 $ 330 $ 312 $ 316 $ 318 $ 320 0.7 % % Margin 23.3 % 22.7 % 21.4 % 21.7 % 21.9 % 21.8 % 20.0 % 19.8 % 19.2 % 18.6 % Free Cash Flow H1 2019E H2 2019E Baseline Adj. EBITDA (incl. Synergies) $ 333 $ 323 $ 307 $ 173 $ 173 $ 368 $ 401 $ 426 $ 438 $ 450 (-) Synergies (3) (3) (20) (30) (30) (30) (30) (-) (5.0)% ISC Admissions Decline (3) (3) (11) (16) (20) (25) (29) (-) (5.0)% ISC Food, Bev & Merch Decline (0) (0) (1) (2) (2) (2) (3) (-) 5.0 % Increase of TV $ to Teams 0 0 0 (22) (23) (24) (25) (-) (2.0)% NASCAR Sponsorship Revenue De cline (6) (6) (6) (20) (35) (40) (44) Downside Adj. EBITDA (excl. Synergies) $ 333 $ 323 $ 307 $162 $162 $ 330 $ 312 $ 316 $ 318 $ 320 (-) Net Interest Expense (53) (103) (100) (97) (93) (89) (-) Cash Taxes (9) (20) (15) (15) (15) (15) (-) Capital Expenditures (153) (160) (170) (68) (68) (173) (112) (105) (105) (107) (-) Dividends (15) (30) (30) (30) (30) (30) Levered Free Cash Flow $ 17 $ 5 $ 55 $ 69 $ 74 $ 78 % Conversion PF 10.3 % 1.5 % 17.7 % 21.7 % 23.3 % 24.5 % Balance Sheet (30-Jun-19) 2019E 2020E 2021E 2022E 2023E 2024E Total Debt $ 1,519 $ 1,502 $ 1,497 $ 1,442 $ 1,373 $ 1,299 $ 1,221 (-) Cash and Cash Equivalents (100) (100) (100) (100) (100) (100) (100) Net Debt $ 1,419 $ 1,402 $ 1,397 $ 1,342 $ 1,273 $ 1,199 $ 1,121 Gross Leverage 4.8 x 4.6 x 4.5 x 4.6 x 4.3 x 4.1 x 3.8 x Note: Assumes ISC purchase price of $44 / share. Assumes PF EBITDA includes cash distributions from equity investments (~30mm per year). Equity value based on fully diluted shares outstanding of 43,428,442 (consisting of 23,776,923 Class A shares, 19,644,069 Class B shares, and 18,792 options with a weighted-average strike price of $25.65 per Ignite’s FY2018 10K); assumes restricted stock awards of 367,895 per Ignite’s FY2018 10K are included in the basic share count and Family roll of 14,919,745 shares (which assumes buyout of 3,488,550 shares held by Brian France for cash).Assumes $100mm in minimum cash and $75mm fees and expenses. 4

STRICTLY PRIVATE & CONFIDENTIAL Financial Profile Sensitivity Case || $44 / Share || All Debt L+450 ($ in millions) PF 2016A 2017A 2018E (30-Jun-2019) 2019E 2020E 2021E 2022E 2023E 2024E '18E - '24E Downside Adj. EBITDA (incl. Synergies) $ 333 $ 323 $ 307 $ 318 $ 328 $ 350 $ 342 $ 346 $ 348 $ 350 2.2 % % Margin 23.3 % 22.7 % 21.4 % 21.8 % 22.2 % 23.1 % 22.0 % 21.6 % 21.0 % 20.4 % Free Cash Flow H1 2019E H2 2019E Downside Adj. EBITDA (excl. Synergies) $ 333 $ 323 $ 307 $ 162 $ 162 $ 330 $ 312 $ 316 $ 318 $ 320 (+) Synergies 3 3 20 30 30 30 30 Downside Adj. EBITDA (incl. Synergies) $ 333 $ 323 $ 307 $164 $164 $ 350 $ 342 $ 346 $ 348 $ 350 (-) Net Interest Expense (53) (99) (85) (66) (51) (40) (-) Cash Taxes (10) (26) (26) (31) (34) (36) (-) Change in NWC (7) 29 0 0 0 0 0 0 0 0 (-) Capital Expenditures(-) Dividends (153) (160) (170) (68) (68)(15) (99)(25) (80)(20) (80)(20) (80)(20) (80)(20) Levered Free Cash Flow $ 18 $ 101 $ 130 $ 149 $ 162 $ 174 % Conversion 11.3 % 28.9 % 38.1 % 42.9 % 46.7 % 49.7 % Net Proceeds from Asset Sales $ 0 $ 0 $ 150 $ 250 $ 0 $ 0 PF Balance Sheet (30-Jun-19) 2019E 2020E 2021E 2022E 2023E 2024E Total Debt $ 1,519 $ 1,500 $ 1,399 $ 1,119 $ 820 $ 658 $ 484 (-) Cash and Cash Equivalents (100) (100) (100) (100) (100) (100) (100) Net Debt $ 1,419 $ 1,400 $ 1,299 $ 1,019 $ 720 $ 558 $ 384 Gross Leverage 4.8 x 4.6 x 4.0 x 3.3 x 2.4 x 1.9 x 1.4 x Note: Assumes ISC purchase price of $44 / share. Assumes PF EBITDA includes cash distributions from equity investments (~30mm per year). Equity value based on fully diluted shares outstanding of 43,428,442 (consisting of 23,776,923 Class A shares, 19,644,069 Class B shares, and 18,792 options with a weighted-average strike price of $25.65 per Ignite’s FY2018 10K); assumes restricted stock awards of 367,895 per Ignite’s FY2018 10K are included in the basic share count and Family roll of 14,919,745 shares (which assumes buyout of 3,488,550 shares held by Brian France for cash).Assumes $100mm in minimum cash and $75mm fees and expenses. 4

STRICTLY PRIVATE & CONFIDENTIAL Financial Profile Downside Case || $44 / Share || $500mm Equity Investment || Debt L+325 ($ in millions) PF 2016A 2017A 2018E (30-Jun-2019) 2019E 2020E 2021E 2022E 2023E 2024E '18E - '24E Downside Adj. EBITDA (excl. Synergies) $ 333 $ 323 $ 307 $ 315 $ 323 $ 330 $ 312 $ 316 $ 318 $ 320 0.7 % % Margin 23.3 % 22.7 % 21.4 % 21.7 % 21.9 % 21.8 % 20.0 % 19.8 % 19.2 % 18.6 % Free Cash Flow H1 2019E H2 2019E Baseline Adj. EBITDA (incl. Synergies) $ 333 $ 323 $ 307 $ 173 $ 173 $ 368 $ 401 $ 426 $ 438 $ 450 (-) Synergies (3) (3) (20) (30) (30) (30) (30) (-) (5.0)% ISC Admissions Decline (3) (3) (11) (16) (20) (25) (29) (-) (5.0)% ISC Food, Bev & Merch Decline (0) (0) (1) (2) (2) (2) (3) (-) 5.0 % Increase of TV $ to Teams 0 0 0 (22) (23) (24) (25) (-) (2.0)% NASCAR Sponsorship Revenue De cline (6) (6) (6) (20) (35) (40) (44) Downside Adj. EBITDA (excl. Synergies) $ 333 $ 323 $ 307 $162 $162 $ 330 $ 312 $ 316 $ 318 $ 320 (-) Net Interest Expense (29) (55) (51) (47) (41) (35) (-) Cash Taxes (15) (32) (27) (28) (29) (29) (-) Capital Expenditures (153) (160) (170) (68) (68) (173) (112) (105) (105) (107) (-) Dividends (18) (35) (35) (35) (35) (35) Levered Free Cash Flow $ 32 $ 35 $ 86 $ 101 $ 107 $ 113 % Conversion PF 19.6 % 10.7 % 27.7 % 31.9 % 33.8 % 35.3 % Balance Sheet (30-Jun-19) 2019E 2020E 2021E 2022E 2023E 2024E Total Debt $ 1,034 $ 1,002 $ 967 $ 880 $ 779 $ 672 $ 559 (-) Cash and Cash Equivalents (100) (100) (100) (100) (100) (100) (100) Net Debt $ 934 $ 902 $ 867 $ 780 $ 679 $ 572 $ 459 Gross Leverage 3.3 x 3.1 x 2.9 x 2.8 x 2.5 x 2.1 x 1.7 x 10

STRICTLY PRIVATE & CONFIDENTIAL Financial Profile Sensitivity Case || $44 / Share || $500mm Equity Investment || Debt L+325 ($ in millions) PF 2016A 2017A 2018E (30-Jun-2019) 2019E 2020E 2021E 2022E 2023E 2024E '18E - '24E Downside Adj. EBITDA (incl. Synergies) $ 333 $ 323 $ 307 $ 318 $ 328 $ 350 $ 342 $ 346 $ 348 $ 350 2.2 % % Margin 23.3 % 22.7 % 21.4 % 21.8 % 22.2 % 23.1 % 22.0 % 21.6 % 21.0 % 20.4 % Free Cash Flow H1 2019E H2 2019E Downside Adj. EBITDA (excl. Synergies) $ 333 $ 323 $ 307 $ 162 $ 162 $ 330 $ 312 $ 316 $ 318 $ 320 (+) Synergies 3 3 20 30 30 30 30 Downside Adj. EBITDA (incl. Synergies) $ 333 $ 323 $ 307 $164 $164 $ 350 $ 342 $ 346 $ 348 $ 350 (-) Net Interest Expense (29) (52) (39) (21) (7) 0 (-) Cash Taxes (16) (38) (38) (43) (45) (46) (-) Change in NWC (7) 29 0 0 0 0 0 0 0 0 (-) Capital Expenditures(-) Dividends (153) (160) (170) (68) (68)(18) (99)(29) (80)(23) (80)(23) (80)(23) (80)(23) Levered Free Cash Flow $ 34 $ 132 $ 161 $ 178 $ 192 $ 200 % Conversion 20.5 % 37.6 % 47.2 % 51.6 % 55.2 % 57.2 % Net Proceeds from Asset Sales $ 0 $ 0 $ 150 $ 250 $ 0 $ 0 PF Balance Sheet (30-Jun-19) 2019E 2020E 2021E 2022E 2023E 2024E Total Debt $ 1,034 $ 1,000 $ 868 $ 557 $ 228 $ 37 $ 1 (-) Cash and Cash Equivalents (100) (100) (100) (100) (100) (100) (265) Net Debt $ 934 $ 900 $ 768 $ 457 $ 128 $(63) $(264) Gross Leverage 3.3 x 3.0 x 2.5 x 1.6 x 0.7 x 0.1 x 0.0 x 11

STRICTLY PRIVATE & CONFIDENTIAL Financial Profile Downside Case || $44 / Share || $500mm Equity Investment || Debt L+450 ($ in millions) PF 2016A 2017A 2018E (30-Jun-2019) 2019E 2020E 2021E 2022E 2023E 2024E '18E - '24E Downside Adj. EBITDA (excl. Synergies) $ 333 $ 323 $ 307 $ 315 $ 323 $ 330 $ 312 $ 316 $ 318 $ 320 0.7 % % Margin 23.3 % 22.7 % 21.4 % 21.7 % 21.9 % 21.8 % 20.0 % 19.8 % 19.2 % 18.6 % Free Cash Flow H1 2019E H2 2019E Baseline Adj. EBITDA (incl. Synergies) $ 333 $ 323 $ 307 $ 173 $ 173 $ 368 $ 401 $ 426 $ 438 $ 450 (-) Synergies (3) (3) (20) (30) (30) (30) (30) (-) (5.0)% ISC Admissions Decline (3) (3) (11) (16) (20) (25) (29) (-) (5.0)% ISC Food, Bev & Merch Decline (0) (0) (1) (2) (2) (2) (3) (-) 5.0 % Increase of TV $ to Teams 0 0 0 (22) (23) (24) (25) (-) (2.0)% NASCAR Sponsorship Revenue De cline (6) (6) (6) (20) (35) (40) (44) Downside Adj. EBITDA (excl. Synergies) $ 333 $ 323 $ 307 $162 $162 $ 330 $ 312 $ 316 $ 318 $ 320 (-) Net Interest Expense (35) (68) (64) (59) (53) (46) (-) Cash Taxes (14) (29) (24) (25) (26) (26) (-) Capital Expenditures (153) (160) (170) (68) (68) (173) (112) (105) (105) (107) (-) Dividends (18) (35) (35) (35) (35) (35) Levered Free Cash Flow $ 27 $ 26 $ 77 $ 92 $ 99 $ 105 % Conversion PF 16.7 % 7.8 % 24.6 % 29.0 % 31.1 % 32.8 % Balance Sheet (30-Jun-19) 2019E 2020E 2021E 2022E 2023E 2024E Total Debt $ 1,034 $ 1,007 $ 981 $ 904 $ 812 $ 714 $ 609 (-) Cash and Cash Equivalents (100) (100) (100) (100) (100) (100) (100) Net Debt $ 934 $ 907 $ 881 $ 804 $ 712 $ 614 $ 509 Gross Leverage 3.3 x 3.1 x 3.0 x 2.9 x 2.6 x 2.2 x 1.9 x 12

STRICTLY PRIVATE & CONFIDENTIAL Financial Profile Sensitivity Case || $44 / Share || $500mm Equity Investment || Debt L+450 ($ in millions) PF 2016A 2017A 2018E (30-Jun-2019) 2019E 2020E 2021E 2022E 2023E 2024E '18E - '24E Downside Adj. EBITDA (incl. Synergies) $ 333 $ 323 $ 307 $ 318 $ 328 $ 350 $ 342 $ 346 $ 348 $ 350 2.2 % % Margin 23.3 % 22.7 % 21.4 % 21.8 % 22.2 % 23.1 % 22.0 % 21.6 % 21.0 % 20.4 % Free Cash Flow H1 2019E H2 2019E Downside Adj. EBITDA (excl. Synergies) $ 333 $ 323 $ 307 $ 162 $ 162 $ 330 $ 312 $ 316 $ 318 $ 320 (+) Synergies 3 3 20 30 30 30 30 Downside Adj. EBITDA (incl. Synergies) $ 333 $ 323 $ 307 $164 $164 $ 350 $ 342 $ 346 $ 348 $ 350 (-) Net Interest Expense (35) (64) (49) (28) (10) (1) (-) Cash Taxes (14) (35) (36) (41) (45) (46) (-) Change in NWC (7) 29 0 0 0 0 0 0 0 0 (-) Capital Expenditures(-) Dividends (153) (160) (170) (68) (68)(18) (99)(29) (80)(23) (80)(23) (80)(23) (80)(23) Levered Free Cash Flow $ 29 $ 123 $ 154 $ 174 $ 189 $ 199 % Conversion 17.6 % 35.0 % 45.0 % 50.2 % 54.4 % 56.9 % Net Proceeds from Asset Sales $ 0 $ 0 $ 150 $ 250 $ 0 $ 0 PF Balance Sheet (30-Jun-19) 2019E 2020E 2021E 2022E 2023E 2024E Total Debt $ 1,034 $ 1,005 $ 882 $ 578 $ 255 $ 65 $ 1 (-) Cash and Cash Equivalents (100) (100) (100) (100) (100) (100) (235) Net Debt $ 934 $ 905 $ 782 $ 478 $ 155 $(35) $(234) Gross Leverage 3.3 x 3.1 x 2.5 x 1.7 x 0.7 x 0.2 x 0.0 x 13

STRICTLY PRIVATE & CONFIDENTIAL Appendix A: Analysis at $45 / Share

STRICTLY PRIVATE & CONFIDENTIAL Financial Profile Baseline Case || $45 / Share || All Debt L+325 ($ in millions) PF 2016A 2017A 2018E (30-Jun-2019) 2019E 2020E 2021E 2022E 2023E 2024E '18E - '24E Adj. EBITDA (incl. Synergies) $ 333 $ 323 $ 307 $ 326 $ 345 $ 368 $ 401 $ 426 $ 438 $ 450 6.6 % % Margin 23.3 % 22.7 % 21.4 % 22.3 % 23.1 % 24.0 % 25.0 % 25.5 % 25.2 % 24.9 % Free Cash Flow H1 2019E H2 2019E Adj. EBITDA (incl. Synergies) $ 333 $ 323 $ 307 $173 $173 $ 368 $ 401 $ 426 $ 438 $ 450 (-) Net Interest Expense (44) (82) (75) (67) (57) (46) (-) Cash Taxes (14) (34) (43) (50) (54) (58) (-) Capital Expenditures (153) (160) (170) (68) (68) (118) (112) (105) (105) (107) (-) Dividends (15) (30) (30) (30) (30) (30) Levered Free Cash Flow $ 32 $ 104 $ 141 $ 174 $ 192 $ 209 % Conversion 18.3 % PF 28.2 % 35.2 % 40.9 % 43.9 % 46.5 % Balance Sheet (30-Jun-19) 2019E 2020E 2021E 2022E 2023E 2024E Total Debt $ 1,547 $ 1,515 $ 1,412 $ 1,270 $ 1,096 $ 904 $ 694 (-) Cash and Cash Equivalents (100) (100) (100) (100) (100) (100) (100) Net Debt $ 1,447 $ 1,415 $ 1,312 $ 1,170 $ 996 $ 804 $ 594 Gross Leverage 4.7 x 4.4 x 3.8 x 3.2 x 2.6 x 2.1 x 1.5 x Note: Assumes ISC purchase price of $45 / share. Assumes PF EBITDA includes cash distributions from equity investments (~30mm per year). Equity value based on fully diluted shares outstanding of 43,428,442 (consisting of 23,776,923 Class A shares, 19,644,069 Class B shares, and 18,792 options with a weighted-average strike price of $25.65 per Ignite’s FY2018 10K); assumes restricted stock awards of 367,895 per Ignite’s FY2018 10K are included in the basic share count and Family roll of 14,919,745 shares (which assumes buyout of 3,488,550 shares held by Brian France for cash).Assumes $100mm in minimum cash and $75mm fees and expenses. Analysis at $45 / Share 15

STRICTLY PRIVATE & CONFIDENTIAL Financial Profile Baseline Case || $45 / Share || All Debt L+450 ($ in millions) PF 2016A 2017A 2018E (30-Jun-2019) 2019E 2020E 2021E 2022E 2023E 2024E '18E - '24E Adj. EBITDA (incl. Synergies) $ 333 $ 323 $ 307 $ 326 $ 345 $ 368 $ 401 $ 426 $ 438 $ 450 6.6 % % Margin 23.3 % 22.7 % 21.4 % 22.3 % 23.1 % 24.0 % 25.0 % 25.5 % 25.2 % 24.9 % Free Cash Flow H1 2019E H2 2019E Adj. EBITDA (incl. Synergies) $ 333 $ 323 $ 307 $173 $173 $ 368 $ 401 $ 426 $ 438 $ 450 (-) Net Interest Expense (54) (101) (93) (84) (74) (61) (-) Cash Taxes (11) (29) (38) (45) (50) (54) (-) Capital Expenditures (153) (160) (170) (68) (68) (118) (112) (105) (105) (107) (-) Dividends (15) (30) (30) (30) (30) (30) Levered Free Cash Flow $ 24 $ 90 $ 127 $ 161 $ 180 $ 198 % Conversion 14.2 % PF 24.3 % 31.7 % 37.9 % 41.1 % 44.1 % Balance Sheet (30-Jun-19) 2019E 2020E 2021E 2022E 2023E 2024E Total Debt $ 1,547 $ 1,523 $ 1,433 $ 1,306 $ 1,144 $ 964 $ 766 (-) Cash and Cash Equivalents (100) (100) (100) (100) (100) (100) (100) Net Debt $ 1,447 $ 1,423 $ 1,333 $ 1,206 $ 1,044 $ 864 $ 666 Gross Leverage 4.7 x 4.4 x 3.9 x 3.3 x 2.7 x 2.2 x 1.7 x Note: Assumes ISC purchase price of $45 / share. Assumes PF EBITDA includes cash distributions from equity investments (~30mm per year). Equity value based on fully diluted shares outstanding of 43,428,442 (consisting of 23,776,923 Class A shares, 19,644,069 Class B shares, and 18,792 options with a weighted-average strike price of $25.65 per Ignite’s FY2018 10K); assumes restricted stock awards of 367,895 per Ignite’s FY2018 10K are included in the basic share count and Family roll of 14,919,745 shares (which assumes buyout of 3,488,550 shares held by Brian France for cash).Assumes $100mm in minimum cash and $75mm fees and expenses. Analysis at $45 / Share 16

STRICTLY PRIVATE & CONFIDENTIAL Financial Profile Downside Case || $45 / Share || All Debt L+325 ($ in millions) PF 2016A 2017A 2018E (30-Jun-2019) 2019E 2020E 2021E 2022E 2023E 2024E '18E - '24E Downside Adj. EBITDA (excl. Synergies) $ 333 $ 323 $ 307 $ 315 $ 323 $ 330 $ 312 $ 316 $ 318 $ 320 0.7 % % Margin 23.3 % 22.7 % 21.4 % 21.7 % 21.9 % 21.8 % 20.0 % 19.8 % 19.2 % 18.6 % Free Cash Flow H1 2019E H2 2019E Baseline Adj. EBITDA (incl. Synergies) $ 333 $ 323 $ 307 $ 173 $ 173 $ 368 $ 401 $ 426 $ 438 $ 450 (-) Synergies (3) (3) (20) (30) (30) (30) (30) (-) (5.0)% ISC Admissions Decline (3) (3) (11) (16) (20) (25) (29) (-) (5.0)% ISC Food, Bev & Merch Decline (0) (0) (1) (2) (2) (2) (3) (-) 5.0 % Increase of TV $ to Teams 0 0 0 (22) (23) (24) (25) (-) (2.0)% NASCAR Sponsorship Revenue De cline (6) (6) (6) (20) (35) (40) (44) Downside Adj. EBITDA (excl. Synergies) $ 333 $ 323 $ 307 $162 $162 $ 330 $ 312 $ 316 $ 318 $ 320 (-) Net Interest Expense (44) (85) (82) (79) (75) (71) (-) Cash Taxes (11) (24) (19) (20) (20) (20) (-) Capital Expenditures (153) (160) (170) (68) (68) (173) (112) (105) (105) (107) (-) Dividends (15) (30) (30) (30) (30) (30) Levered Free Cash Flow $ 23 $ 18 $ 69 $ 82 $ 87 $ 92 % Conversion PF 14.3 % 5.5 % 22.0 % 25.9 % 27.5 % 28.7 % Balance Sheet (30-Jun-19) 2019E 2020E 2021E 2022E 2023E 2024E Total Debt $ 1,547 $ 1,524 $ 1,506 $ 1,437 $ 1,355 $ 1,268 $ 1,176 (-) Cash and Cash Equivalents (100) (100) (100) (100) (100) (100) (100) Net Debt $ 1,447 $ 1,424 $ 1,406 $ 1,337 $ 1,255 $ 1,168 $ 1,076 Gross Leverage 4.9 x 4.7 x 4.6 x 4.6 x 4.3 x 4.0 x 3.7 x Note: Assumes ISC purchase price of $45 / share. Assumes PF EBITDA includes cash distributions from equity investments (~30mm per year). Equity value based on fully diluted shares outstanding of 43,428,442 (consisting of 23,776,923 Class A shares, 19,644,069 Class B shares, and 18,792 options with a weighted-average strike price of $25.65 per Ignite’s FY2018 10K); assumes restricted stock awards of 367,895 per Ignite’s FY2018 10K are included in the basic share count and Family roll of 14,919,745 shares (which assumes buyout of 3,488,550 shares held by Brian France for cash).Assumes $100mm in minimum cash and $75mm fees and expenses. Analysis at $45 / Share 17

STRICTLY PRIVATE & CONFIDENTIAL Financial Profile Sensitivity Case || $45 / Share || All Debt L+325 ($ in millions) PF 2016A 2017A 2018E (30-Jun-2019) 2019E 2020E 2021E 2022E 2023E 2024E '18E - '24E Downside Adj. EBITDA (incl. Synergies) $ 333 $ 323 $ 307 $ 318 $ 328 $ 350 $ 342 $ 346 $ 348 $ 350 2.2 % % Margin 23.3 % 22.7 % 21.4 % 21.8 % 22.2 % 23.1 % 22.0 % 21.6 % 21.0 % 20.4 % Free Cash Flow H1 2019E H2 2019E Downside Adj. EBITDA (excl. Synergies) $ 333 $ 323 $ 307 $ 162 $ 162 $ 330 $ 312 $ 316 $ 318 $ 320 (+) Synergies 3 3 20 30 30 30 30 Downside Adj. EBITDA (incl. Synergies) $ 333 $ 323 $ 307 $164 $164 $ 350 $ 342 $ 346 $ 348 $ 350 (-) Net Interest Expense (44) (82) (70) (54) (41) (32) (-) Cash Taxes (12) (30) (30) (34) (37) (38) (-) Change in NWC (7) 29 0 0 0 0 0 0 0 0 (-) Capital Expenditures(-) Dividends (153) (160) (170) (68) (68)(15) (99)(25) (80)(20) (80)(20) (80)(20) (80)(20) Levered Free Cash Flow $ 25 $ 114 $ 142 $ 158 $ 170 $ 180 % Conversion 15.2 % 32.5 % 41.5 % 45.6 % 48.9 % 51.5 % Net Proceeds from Asset Sales $ 0 $ 0 $ 150 $ 250 $ 0 $ 0 PF Balance Sheet (30-Jun-19) 2019E 2020E 2021E 2022E 2023E 2024E Total Debt $ 1,547 $ 1,522 $ 1,408 $ 1,116 $ 809 $ 639 $ 459 (-) Cash and Cash Equivalents (100) (100) (100) (100) (100) (100) (100) Net Debt $ 1,447 $ 1,422 $ 1,308 $ 1,016 $ 709 $ 539 $ 359 Gross Leverage 4.9 x 4.6 x 4.0 x 3.3 x 2.3 x 1.8 x 1.3 x Note: Assumes ISC purchase price of $45 / share. Assumes PF EBITDA includes cash distributions from equity investments (~30mm per year). Equity value based on fully diluted shares outstanding of 43,428,442 (consisting of 23,776,923 Class A shares, 19,644,069 Class B shares, and 18,792 options with a weighted-average strike price of $25.65 per Ignite’s FY2018 10K); assumes restricted stock awards of 367,895 per Ignite’s FY2018 10K are included in the basic share count and Family roll of 14,919,745 shares (which assumes buyout of 3,488,550 shares held by Brian France for cash).Assumes $100mm in minimum cash and $75mm fees and expenses. Analysis at $45 / Share 18

STRICTLY PRIVATE & CONFIDENTIAL Financial Profile Downside Case || $45 / Share || All Debt L+450 ($ in millions) PF 2016A 2017A 2018E (30-Jun-2019) 2019E 2020E 2021E 2022E 2023E 2024E '18E - '24E Downside Adj. EBITDA (excl. Synergies) $ 333 $ 323 $ 307 $ 315 $ 323 $ 330 $ 312 $ 316 $ 318 $ 320 0.7 % % Margin 23.3 % 22.7 % 21.4 % 21.7 % 21.9 % 21.8 % 20.0 % 19.8 % 19.2 % 18.6 % Free Cash Flow H1 2019E H2 2019E Baseline Adj. EBITDA (incl. Synergies) $ 333 $ 323 $ 307 $ 173 $ 173 $ 368 $ 401 $ 426 $ 438 $ 450 (-) Synergies (3) (3) (20) (30) (30) (30) (30) (-) (5.0)% ISC Admissions Decline (3) (3) (11) (16) (20) (25) (29) (-) (5.0)% ISC Food, Bev & Merch Decline (0) (0) (1) (2) (2) (2) (3) (-) 5.0 % Increase of TV $ to Teams 0 0 0 (22) (23) (24) (25) (-) (2.0)% NASCAR Sponsorship Revenue De cline (6) (6) (6) (20) (35) (40) (44) Downside Adj. EBITDA (excl. Synergies) $ 333 $ 323 $ 307 $162 $162 $ 330 $ 312 $ 316 $ 318 $ 320 (-) Net Interest Expense (54) (105) (103) (100) (96) (92) (-) Cash Taxes (9) (19) (14) (15) (15) (15) (-) Capital Expenditures (153) (160) (170) (68) (68) (173) (112) (105) (105) (107) (-) Dividends (15) (30) (30) (30) (30) (30) Levered Free Cash Flow $ 16 $ 3 $ 54 $ 67 $ 72 $ 76 % Conversion PF 9.8 % 1.0 % 17.2 % 21.1 % 22.7 % 23.9 % Balance Sheet (30-Jun-19) 2019E 2020E 2021E 2022E 2023E 2024E Total Debt $ 1,547 $ 1,531 $ 1,528 $ 1,474 $ 1,407 $ 1,335 $ 1,259 (-) Cash and Cash Equivalents (100) (100) (100) (100) (100) (100) (100) Net Debt $ 1,447 $ 1,431 $ 1,428 $ 1,374 $ 1,307 $ 1,235 $ 1,159 Gross Leverage 4.9 x 4.7 x 4.6 x 4.7 x 4.5 x 4.2 x 3.9 x Note: Assumes ISC purchase price of $45 / share. Assumes PF EBITDA includes cash distributions from equity investments (~30mm per year). Equity value based on fully diluted shares outstanding of 43,428,442 (consisting of 23,776,923 Class A shares, 19,644,069 Class B shares, and 18,792 options with a weighted-average strike price of $25.65 per Ignite’s FY2018 10K); assumes restricted stock awards of 367,895 per Ignite’s FY2018 10K are included in the basic share count and Family roll of 14,919,745 shares (which assumes buyout of 3,488,550 shares held by Brian France for cash).Assumes $100mm in minimum cash and $75mm fees and expenses. Analysis at $45 / Share 19

STRICTLY PRIVATE & CONFIDENTIAL Financial Profile Sensitivity Case || $45 / Share || All Debt L+450 ($ in millions) PF 2016A 2017A 2018E (30-Jun-2019) 2019E 2020E 2021E 2022E 2023E 2024E '18E - '24E Downside Adj. EBITDA (incl. Synergies) $ 333 $ 323 $ 307 $ 318 $ 328 $ 350 $ 342 $ 346 $ 348 $ 350 2.2 % % Margin 23.3 % 22.7 % 21.4 % 21.8 % 22.2 % 23.1 % 22.0 % 21.6 % 21.0 % 20.4 % Free Cash Flow H1 2019E H2 2019E Downside Adj. EBITDA (excl. Synergies) $ 333 $ 323 $ 307 $ 162 $ 162 $ 330 $ 312 $ 316 $ 318 $ 320 (+) Synergies 3 3 20 30 30 30 30 Downside Adj. EBITDA (incl. Synergies) $ 333 $ 323 $ 307 $164 $164 $ 350 $ 342 $ 346 $ 348 $ 350 (-) Net Interest Expense (54) (101) (88) (69) (54) (43) (-) Cash Taxes (9) (25) (26) (31) (33) (35) (-) Change in NWC (7) 29 0 0 0 0 0 0 0 0 (-) Capital Expenditures(-) Dividends (153) (160) (170) (68) (68)(15) (99)(25) (80)(20) (80)(20) (80)(20) (80)(20) Levered Free Cash Flow $ 18 $ 100 $ 129 $ 147 $ 161 $ 172 % Conversion 10.8 % 28.4 % 37.6 % 42.4 % 46.2 % 49.2 % Net Proceeds from Asset Sales $ 0 $ 0 $ 150 $ 250 $ 0 $ 0 PF Balance Sheet (30-Jun-19) 2019E 2020E 2021E 2022E 2023E 2024E Total Debt $ 1,547 $ 1,529 $ 1,430 $ 1,151 $ 854 $ 694 $ 522 (-) Cash and Cash Equivalents (100) (100) (100) (100) (100) (100) (100) Net Debt $ 1,447 $ 1,429 $ 1,330 $ 1,051 $ 754 $ 594 $ 422 Gross Leverage 4.9 x 4.7 x 4.1 x 3.4 x 2.5 x 2.0 x 1.5 x Note: Assumes ISC purchase price of $45 / share. Assumes PF EBITDA includes cash distributions from equity investments (~30mm per year). Equity value based on fully diluted shares outstanding of 43,428,442 (consisting of 23,776,923 Class A shares, 19,644,069 Class B shares, and 18,792 options with a weighted-average strike price of $25.65 per Ignite’s FY2018 10K); assumes restricted stock awards of 367,895 per Ignite’s FY2018 10K are included in the basic share count and Family roll of 14,919,745 shares (which assumes buyout of 3,488,550 shares held by Brian France for cash).Assumes $100mm in minimum cash and $75mm fees and expenses. Analysis at $45 / Share 20

STRICTLY PRIVATE & CONFIDENTIAL Financial Profile Downside Case || $45 / Share || $500mm Equity Investment || Debt L+325 ($ in millions) PF 2016A 2017A 2018E (30-Jun-2019) 2019E 2020E 2021E 2022E 2023E 2024E '18E - '24E Downside Adj. EBITDA (excl. Synergies) $ 333 $ 323 $ 307 $ 315 $ 323 $ 330 $ 312 $ 316 $ 318 $ 320 0.7 % % Margin 23.3 % 22.7 % 21.4 % 21.7 % 21.9 % 21.8 % 20.0 % 19.8 % 19.2 % 18.6 % Free Cash Flow H1 2019E H2 2019E Baseline Adj. EBITDA (incl. Synergies) $ 333 $ 323 $ 307 $ 173 $ 173 $ 368 $ 401 $ 426 $ 438 $ 450 (-) Synergies (3) (3) (20) (30) (30) (30) (30) (-) (5.0)% ISC Admissions Decline (3) (3) (11) (16) (20) (25) (29) (-) (5.0)% ISC Food, Bev & Merch Decline (0) (0) (1) (2) (2) (2) (3) (-) 5.0 % Increase of TV $ to Teams 0 0 0 (22) (23) (24) (25) (-) (2.0)% NASCAR Sponsorship Revenue De cline (6) (6) (6) (20) (35) (40) (44) Downside Adj. EBITDA (excl. Synergies) $ 333 $ 323 $ 307 $162 $162 $ 330 $ 312 $ 316 $ 318 $ 320 (-) Net Interest Expense (30) (57) (53) (48) (43) (38) (-) Cash Taxes (15) (32) (27) (28) (28) (29) (-) Capital Expenditures (153) (160) (170) (68) (68) (173) (112) (105) (105) (107) (-) Dividends (18) (35) (35) (35) (35) (35) Levered Free Cash Flow $ 31 $ 34 $ 85 $ 99 $ 106 $ 111 % Conversion PF 19.2 % 10.3 % 27.2 % 31.4 % 33.3 % 34.8 % Balance Sheet (30-Jun-19) 2019E 2020E 2021E 2022E 2023E 2024E Total Debt $ 1,062 $ 1,031 $ 997 $ 912 $ 813 $ 707 $ 595 (-) Cash and Cash Equivalents (100) (100) (100) (100) (100) (100) (100) Net Debt $ 962 $ 931 $ 897 $ 812 $ 713 $ 607 $ 495 Gross Leverage 3.4 x 3.2 x 3.0 x 2.9 x 2.6 x 2.2 x 1.9 x Note: Assumes ISC purchase price of $45 / share. Assumes PF EBITDA includes cash distributions from equity investments (~30mm per year). Equity value based on fully diluted shares outstanding of 43,428,442 (consisting of 23,776,923 Class A shares, 19,644,069 Class B shares, and 18,792 options with a weighted-average strike price of $25.65 per Ignite’s FY2018 10K); assumes restricted stock awards of 367,895 per Ignite’s FY2018 10K are included in the basic share count and Family roll of 14,919,745 shares (which assumes buyout of 3,488,550 shares held by Brian France for cash).Assumes $100mm in minimum cash and $90mm fees and expenses. Analysis at $45 / Share 21

STRICTLY PRIVATE & CONFIDENTIAL Financial Profile Sensitivity Case || $45 / Share || $500mm Equity Investment || Debt L+325 ($ in millions) PF 2016A 2017A 2018E (30-Jun-2019) 2019E 2020E 2021E 2022E 2023E 2024E '18E - '24E Downside Adj. EBITDA (incl. Synergies) $ 333 $ 323 $ 307 $ 318 $ 328 $ 350 $ 342 $ 346 $ 348 $ 350 2.2 % % Margin 23.3 % 22.7 % 21.4 % 21.8 % 22.2 % 23.1 % 22.0 % 21.6 % 21.0 % 20.4 % Free Cash Flow H1 2019E H2 2019E Downside Adj. EBITDA (excl. Synergies) $ 333 $ 323 $ 307 $ 162 $ 162 $ 330 $ 312 $ 316 $ 318 $ 320 (+) Synergies 3 3 20 30 30 30 30 Downside Adj. EBITDA (incl. Synergies) $ 333 $ 323 $ 307 $164 $164 $ 350 $ 342 $ 346 $ 348 $ 350 (-) Net Interest Expense (30) (54) (41) (23) (9) (1) (-) Cash Taxes (16) (38) (38) (42) (45) (46) (-) Change in NWC (7) 29 0 0 0 0 0 0 0 0 (-) Capital Expenditures(-) Dividends (153) (160) (170) (68) (68)(18) (99)(29) (80)(23) (80)(23) (80)(23) (80)(23) Levered Free Cash Flow $ 33 $ 130 $ 160 $ 177 $ 190 $ 199 % Conversion 20.1 % 37.3 % 46.8 % 51.2 % 54.8 % 57.0 % Net Proceeds from Asset Sales $ 0 $ 0 $ 150 $ 250 $ 0 $ 0 PF Balance Sheet (30-Jun-19) 2019E 2020E 2021E 2022E 2023E 2024E Total Debt $ 1,062 $ 1,029 $ 899 $ 589 $ 262 $ 71 $ 1 (-) Cash and Cash Equivalents (100) (100) (100) (100) (100) (100) (229) Net Debt $ 962 $ 929 $ 799 $ 489 $ 162 $(29) $(228) Gross Leverage 3.3 x 3.1 x 2.6 x 1.7 x 0.8 x 0.2 x 0.0 x Note: Assumes ISC purchase price of $45 / share. Assumes PF EBITDA includes cash distributions from equity investments (~30mm per year). Equity value based on fully diluted shares outstanding of 43,428,442 (consisting of 23,776,923 Class A shares, 19,644,069 Class B shares, and 18,792 options with a weighted-average strike price of $25.65 per Ignite’s FY2018 10K); assumes restricted stock awards of 367,895 per Ignite’s FY2018 10K are included in the basic share count and Family roll of 14,919,745 shares (which assumes buyout of 3,488,550 shares held by Brian France for cash).Assumes $100mm in minimum cash and $90mm fees and expenses. Analysis at $45 / Share 22

STRICTLY PRIVATE & CONFIDENTIAL Financial Profile Downside Case || $45 / Share || $500mm Equity Investment || Debt L+450 ($ in millions) PF 2016A 2017A 2018E (30-Jun-2019) 2019E 2020E 2021E 2022E 2023E 2024E '18E - '24E Downside Adj. EBITDA (excl. Synergies) $ 333 $ 323 $ 307 $ 315 $ 323 $ 330 $ 312 $ 316 $ 318 $ 320 0.7 % % Margin 23.3 % 22.7 % 21.4 % 21.7 % 21.9 % 21.8 % 20.0 % 19.8 % 19.2 % 18.6 % Free Cash Flow H1 2019E H2 2019E Baseline Adj. EBITDA (incl. Synergies) $ 333 $ 323 $ 307 $ 173 $ 173 $ 368 $ 401 $ 426 $ 438 $ 450 (-) Synergies (3) (3) (20) (30) (30) (30) (30) (-) (5.0)% ISC Admissions Decline (3) (3) (11) (16) (20) (25) (29) (-) (5.0)% ISC Food, Bev & Merch Decline (0) (0) (1) (2) (2) (2) (3) (-) 5.0 % Increase of TV $ to Teams 0 0 0 (22) (23) (24) (25) (-) (2.0)% NASCAR Sponsorship Revenue De cline (6) (6) (6) (20) (35) (40) (44) Downside Adj. EBITDA (excl. Synergies) $ 333 $ 323 $ 307 $162 $162 $ 330 $ 312 $ 316 $ 318 $ 320 (-) Net Interest Expense (37) (70) (66) (61) (55) (49) (-) Cash Taxes (13) (28) (23) (25) (25) (26) (-) Capital Expenditures (153) (160) (170) (68) (68) (173) (112) (105) (105) (107) (-) Dividends (18) (35) (35) (35) (35) (35) Levered Free Cash Flow $ 26 $ 24 $ 75 $ 90 $ 97 $ 103 % Conversion PF 16.2 % 7.3 % 24.1 % 28.5 % 30.5 % 32.2 % Balance Sheet (30-Jun-19) 2019E 2020E 2021E 2022E 2023E 2024E Total Debt $ 1,062 $ 1,036 $ 1,012 $ 937 $ 847 $ 750 $ 647 (-) Cash and Cash Equivalents (100) (100) (100) (100) (100) (100) (100) Net Debt $ 962 $ 936 $ 912 $ 837 $ 747 $ 650 $ 547 Gross Leverage 3.4 x 3.2 x 3.1 x 3.0 x 2.7 x 2.4 x 2.0 x Note: Assumes ISC purchase price of $45 / share. Assumes PF EBITDA includes cash distributions from equity investments (~30mm per year). Equity value based on fully diluted shares outstanding of 43,428,442 (consisting of 23,776,923 Class A shares, 19,644,069 Class B shares, and 18,792 options with a weighted-average strike price of $25.65 per Ignite’s FY2018 10K); assumes restricted stock awards of 367,895 per Ignite’s FY2018 10K are included in the basic share count and Family roll of 14,919,745 shares (which assumes buyout of 3,488,550 shares held by Brian France for cash).Assumes $100mm in minimum cash and $90mm fees and expenses. Analysis at $45 / Share 23

STRICTLY PRIVATE & CONFIDENTIAL Financial Profile Sensitivity Case || $45 / Share || $500mm Equity Investment || Debt L+450 ($ in millions) PF 2016A 2017A 2018E (30-Jun-2019) 2019E 2020E 2021E 2022E 2023E 2024E '18E - '24E Downside Adj. EBITDA (incl. Synergies) $ 333 $ 323 $ 307 $ 318 $ 328 $ 350 $ 342 $ 346 $ 348 $ 350 2.2 % % Margin 23.3 % 22.7 % 21.4 % 21.8 % 22.2 % 23.1 % 22.0 % 21.6 % 21.0 % 20.4 % Free Cash Flow H1 2019E H2 2019E Downside Adj. EBITDA (excl. Synergies) $ 333 $ 323 $ 307 $ 162 $ 162 $ 330 $ 312 $ 316 $ 318 $ 320 (+) Synergies 3 3 20 30 30 30 30 Downside Adj. EBITDA (incl. Synergies) $ 333 $ 323 $ 307 $164 $164 $ 350 $ 342 $ 346 $ 348 $ 350 (-) Net Interest Expense (36) (66) (51) (30) (13) (3) (-) Cash Taxes (14) (34) (35) (41) (44) (46) (-) Change in NWC (7) 29 0 0 0 0 0 0 0 0 (-) Capital Expenditures(-) Dividends (153) (160) (170) (68) (68)(18) (99)(29) (80)(23) (80)(23) (80)(23) (80)(23) Levered Free Cash Flow $ 28 $ 121 $ 152 $ 172 $ 187 $ 198 % Conversion 17.1 % 34.6 % 44.5 % 49.7 % 53.9 % 56.6 % Net Proceeds from Asset Sales $ 0 $ 0 $ 150 $ 250 $ 0 $ 0 PF Balance Sheet (30-Jun-19) 2019E 2020E 2021E 2022E 2023E 2024E Total Debt $ 1,062 $ 1,034 $ 913 $ 611 $ 289 $ 102 $ 1 (-) Cash and Cash Equivalents (100) (100) (100) (100) (100) (100) (198) Net Debt $ 962 $ 934 $ 813 $ 511 $ 189 $ 2 $(197) Gross Leverage 3.3 x 3.2 x 2.6 x 1.8 x 0.8 x 0.3 x 0.0 x Note: Assumes ISC purchase price of $45 / share. Assumes PF EBITDA includes cash distributions from equity investments (~30mm per year). Equity value based on fully diluted shares outstanding of 43,428,442 (consisting of 23,776,923 Class A shares, 19,644,069 Class B shares, and 18,792 options with a weighted-average strike price of $25.65 per Ignite’s FY2018 10K); assumes restricted stock awards of 367,895 per Ignite’s FY2018 10K are included in the basic share count and Family roll of 14,919,745 shares (which assumes buyout of 3,488,550 shares held by Brian France for cash).Assumes $100mm in minimum cash and $90mm fees and expenses. Analysis at $45 / Share 24

STRICTLY PRIVATE & CONFIDENTIAL Appendix B: Additional Analysis

STRICTLY PRIVATE & CONFIDENTIAL Ignite Financial Performance SummaryFY 2019 Budgeted vs. FY 2019 Estimated Final 2019 Budget 2019 Est. Final $ ∆ % ∆ Revenues Admissions $ 112,305 $ 109,798 $(2,507) (2.2)% Motorsports and other event related income 525,391 521,424 (3,967) (0.8)% Food, beverage and merchandise income 46,329 45,476 (853) (1.8)% Other income 21,875 21,601 (274) (1.3)% Total Revenues $ 705,900 $ 698,299 $(7,601) (1.1)% Expenses Direct Expenses: NASCAR event management fees $ 192,680 $ 192,687 $ 7 0.0 % Motorsports and other event related expenses 137,926 136,501 (1,425) (1.0)% Food, beverage and merchandise expenses 35,019 34,504 (515) (1.5)% Other operating expenses 4,780 6,677 1,897 39.7 % Total Direct Expenses $ 370,405 $ 370,369 $(36) (0.0)% General and administrative expenses $ 112,060 $ 111,703 $(357) (0.3)% Depreciation and amortization 111,815 112,235 420 0.4 % Loss on Retirements of Long Lived Assets 0 1 1 NA Total Expenses $ 594,280 $ 594,308 $ 28 0.0 % Operating Income $ 111,620 $ 103,991 $(7,629) (6.8)% Interest income $ 3,190 $ 4,833 $ 1,643 51.5 % Interest expense (14,524) (14,527) (3) 0.0 % Other 0 17 17 NA Equity in net income from equity investments 24,355 24,463 108 0.4 % Income Before Income Taxes $ 124,641 $ 118,778 $(5,863) (4.7)% Income taxes $ 30,861 $ 29,457 $(1,404) (4.5)% Net income $ 93,780 $ 89,321 $(4,459) (4.8)% Diluted earnings per share $ 2.17 $ 2.05 $(0.12) (5.4)% Shares 43,195 43,468 273 0 Adjusted EBITDA $ 251,084 $ 243,878 $(7,206) (2.9)% Cash Distribution 27,650 27,650 $ 0 0.0 % 26 Additional Analysis

STRICTLY PRIVATE & CONFIDENTIAL Ignite Financial Performance Summary2019 Q1 Budgeted vs. 2019 Q1 Estimated Final Q1 2019 Budget Q1 2019 Est. Final $ ∆ % ∆ Revenues Admissions $ 30,199 $ 29,317 $(882) (2.9)% Motorsports and other event related income 108,892 106,588 (2,304) (2.1)% Food, beverage and merchandise income 9,756 9,319 (437) (4.5)% Other income 4,903 5,205 302 6.2 % Total Revenues $ 153,750 $ 150,429 $(3,321) (2.2)% Expenses Direct Expenses: NASCAR event management fees $ 30,898 $ 30,905 $ 7 0.0 % Motorsports and other event related expenses 26,761 26,189 (572) (2.1)% Food, beverage and merchandise expenses 6,916 6,759 (157) (2.3)% Other operating expenses 1,244 1,855 611 49.1 % Total Direct Expenses $ 65,819 $ 65,708 $(111) (0.2)% General and administrative expenses $ 27,113 $ 26,719 $(394) (1.5)% Depreciation and amortization 28,211 28,181 (30) (0.1)% Loss on Retirements of Long Lived Assets 0 1 1 NA Total Expenses $ 121,143 $ 120,609 $(534) (0.4)% Operating Income $ 32,607 $ 29,820 $(2,787) (8.5)% Interest income $ 728 $ 1,164 $ 436 59.9 % Interest expense (3,738) (3,721) 17 (0.5)% Other 0 17 17 NA Equity in net income from equity investments 5,421 5,529 108 2.0 % Income Before Income Taxes $ 35,018 $ 32,809 $(2,209) (6.3)% Income taxes $ 8,670 $ 8,137 $(533) (6.1)% Net income $ 26,348 $ 24,672 $(1,676) (6.4)% Diluted earnings per share $ 0.61 $ 0.57 $(0.04) (6.1)% Shares 43,537 43,427 (110) (0.3)% Adjusted EBITDA $ 66,968 $ 64,152 $(2,816) (4.2)% Cash Distribution 6,150 6,150 0 0.0 % 27 Additional Analysis

STRICTLY PRIVATE & CONFIDENTIAL 28 Additional Analysis ISC Summary of Attendance GrowthSummary 2009A 2010A 2011A 2012A 2013A 2014A 2015A 2016A 2017A 2018A 2019B '09A - '18ACAGR '18A - '19BCAGR Admissions Dollars Total NASCAR $ 164,705 $ 135,798 $ 130,350 $ 121,963 $ 113,923 $ 112,952 $ 114,556 $ 107,684 $ 104,845 $ 93,519 $ 96,547 (6.1)% 3.2 % % of Total 94.5 % 95.1 % 96.7 % 95.7 % 95.3 % 94.8 % 95.1 % 93.8 % 93.8 % 93.2 % 94.7 % % YOY Growth (17.6)% (4.0)% (6.4)% (6.6)% (0.9)% 1.4 % (6.0)% (2.6)% (10.8)% 3.2 % Total ISC Admissions $ 174,261 $ 142,869 $ 134,785 $ 127,421 $ 119,548 $ 119,088 $ 120,483 $ 114,859 $ 111,723 $ 100,366 $ 101,993 (5.9)% 1.6 % % YOY Growth (18.0)% (5.7)% (5.5)% (6.2)% (0.4)% 1.2 % (4.7)% (2.7)% (10.2)% 1.6 % Attendance Total NASCAR 2,091,510 1,870,177 1,806,505 1,711,882 1,631,097 1,594,668 1,592,019 1,426,999 1,370,639 1,217,970 1,235,660 (5.8)% 1.5 % % of Total 88.8 % 90.9 % 93.4 % 91.1 % 90.1 % 90.8 % 90.9 % 89.4 % 89.6 % 88.8 % 88.9 % % YOY Growth (10.6)% (3.4)% (5.2)% (1.6)% (2.2)% (0.2)% (10.4)% (3.9)% (11.1)% 1.5 % Total ISC Admissions 2,355,394 2,056,365 1,933,901 1,879,652 1,809,378 1,756,813 1,752,309 1,596,833 1,529,177 1,371,003 1,389,189 (5.8)% 1.3 % % YOY Growth (12.7)% (6.0)% (2.8)% (3.7)% (2.9)% (0.3)% (8.9)% (4.2)% (10.3)% 1.3 % Weighted Average Ticket Price Total NASCAR $ 79 $ 73 $ 72 $ 71 $ 70 $ 71 $ 72 $ 75 $ 76 $ 77 $ 78 (0.3)% 1.8 % % YOY Growth 0.0 % (7.8)% (0.6)% (1.3)% (2.0)% 1.4 % 1.6 % 4.9 % 1.4 % 0.4 % 1.8 % Total ISC Admissions $ 74 $ 69 $ 70 $ 68 $ 66 $ 68 $ 69 $ 72 $ 73 $ 73 $ 73 (0.1)% 0.3 % % YOY Growth (6.1)% 0.3 % (2.7)% (2.5)% 2.6 % 1.4 % 4.6 % 1.6 % 0.2 % 0.3 %