Contract analysis

I. Executive Summary This memorandum provides the Special Committee of the Board of Directors of Redstone Gaming Corp. ("RGC" or the "Company") with a comprehensive assessment of the Company's readiness to defend against a potential contested proxy solicitation by Pinnacle Harbor Capital Partners, LP ("Pinnacle Harbor" or the "Activist") at the Company's 2023 Annual Meeting of Stockholders (the "2023 Annual Meeting")

1. Board Representation. Appointment of its two director nominees — Dr. Sandra Trevelyan (age 55, former Chief Operating Officer of Meridian Interactive Holdings, Inc.) and Hugh Desmond Grayson (age 61, former Chief Financial Officer of Atlas Leisure Group, Inc.) — to the Board of Directors.

2. Strategic Review of Interactive Gaming Division. A formal strategic review of the Company's interactive gaming segment, including evaluation of a potential sale, spin-off, or other separation transaction. The interactive gaming division generated revenue of $412 million in fiscal year 2021, representing approximately 14.4% of the Company's total revenue of $2.87 billion.

3. Capital Return. Return of $300 million to shareholders through a special dividend, an accelerated share repurchase program, or a combination thereof. This memorandum outlines and analyzes the following elements of the Company's defense strategy: (a) The timeline and procedural milestones leading to the 2023 Annual Meeting; (b) The engagement and coordination of the Company's advisory team; (c) An analysis of the C

II. Background and Current Status of the Campaign A. Summary of Pinnacle Harbor's Accumulation and Disclosure Pinnacle Harbor Capital Partners, LP is a Delaware limited partnership. Its general partner is Pinnacle Harbor Capital Management, LLC, a Delaware limited liability company. Pinnacle Harbor is an event-driven and activist-oriented hedge fund founded in 2014, with assets under management of approximately $4.2

III. Timeline and Procedural Milestones to the 2023 Annual Meeting A. Key Dates and Deadlines The following timeline sets forth the anticipated key dates and deadlines relevant to the contested proxy solicitation. We note that certain dates, particularly the record date and meeting date, have not yet been fixed by the Board as of the date of this memorandum, and the dates set forth below are estimates based on RGC's

IV. Advisor Engagement and Coordination The Company has assembled a comprehensive team of outside advisors to manage the defense of the proxy contest. This section summarizes each advisor's role, contact information, and current engagement status. Effective coordination among these advisors is essential to the success of the defense strategy. A. Outside Counsel — Calderwood & Harkness LLP Calderwood & Harkness LLP se

V. Shareholder Base Analysis and Voting Landscape A. Share Capital Overview Redstone Gaming Corp. has a single class of common stock outstanding, with no dual-class structure and no supervoting or non-voting shares. Each share of common stock is entitled to one vote on all matters submitted to a vote of stockholders, including the election of directors. As of the most recent records from Continental Share Services, I

VI. Shareholder Outreach and Engagement Plan A. Objectives The Company's shareholder outreach and engagement program is designed to achieve three primary objectives:

1. Secure Institutional Support for the Management Slate. The overriding goal of the outreach program is to secure the proxy votes of the Company's key institutional stockholders in favor of management's director nominees at the 2023 Annual Meeting. This requires direct, substantive engagement with the investment professionals and governance officers at each significant institutional holder.

2. Demonstrate Board Responsiveness. The outreach program must convey to stockholders that the Board is genuinely responsive to shareholder concerns regarding governance, capital allocation, and strategic direction — without capitulating to the specific demands of an activist with a short-term investment horizon. Demonstrating responsiveness is critical to securing favorable proxy advisory firm recommendations and to

3. Counter Pinnacle Harbor's Narrative. The outreach program must effectively counter Pinnacle Harbor's public narrative that the interactive gaming division is undervalued and mismanaged, that the Board is insufficiently responsive to shareholder concerns, and that a $300 million capital return is warranted. The Company's engagement with stockholders must be grounded in rigorous financial analysis and a compelling a

VII. Proxy Contest Defense Messaging Framework A. Core Narrative for RGC The Company's defense messaging is built on four core themes, which should be consistently reinforced across all communications channels — shareholder meetings, press releases, proxy materials, advisory firm presentations, and media interactions:

1. Experienced, Independent, and Aligned Board. The RGC Board of Directors is composed of nine directors, seven of whom are independent, with deep experience in the gaming, hospitality, technology, and finance industries. The Board is actively engaged in overseeing the Company's strategy, monitoring manage