A message from Penn National Gaming CEO Jay Snowden

Dear Hanh, The past few weeks have been a very stressful time for all of us, and I hope you and your family are remaining healthy and safe. What began as a great start to 2020 has us now facing an unimaginable new challenge. I remember the impact of past economic crises, such as the 2008/2009 recession, but those don’t compare to the toll COVID-19 has taken on the gaming and hospitality sector. According to a report from Moody’s Investor Services, the gaming industry is second only to the major airlines in terms of the most impacted industries by the pandemic. With all of our 41 properties in 19 states temporarily shuttered, we are making difficult decisions to help preserve our liquidity and ensure a brighter future for our Company’s team members, customers, shareholders and other key stakeholders. As CEO, I am committed to doing everything in my power to ensure we persevere and figure out a way to come out of this stronger and better than ever. Since having to suspend operations at our properties, Penn National has been continuing to pay our team members their full wages and benefits through March 31. However, several states have announced extensions of their temporary closure orders and other states may soon follow suit. Given the uncertainty about the duration of the pandemic, and with no meaningful revenue for the foreseeable future, Penn National will be implementing unpaid furloughs impacting approximately 26,000 team members companywide beginning April 1. This decision was extremely difficult to make for all of us at Penn. Penn National is a family, and we deeply regret the hardship this will place on our team members and their loved ones. To try to help ease some of the burden, we’re maintaining medical benefits for eligible team members through June 30. In addition, Penn National has established a special COVID-19 Emergency Relief Fund under our Penn National Gaming Foundation to provide direct assistance to team members and local relief organizations in need in our communities. We have already raised over $1.2 million in dedicated relief funds, including more than $425,000 in personal contributions from me and my senior management team, our Board of Directors, and our GMs. We will continue to work tirelessly to grow these relief funds over the coming days and weeks. I am proud of the fact that when the call came down from our governors across the country to temporarily close our facilities, our team members managed the process in a safe and orderly fashion, ensuring the health and well-being of our guests. I’m equally proud of the fact that since closing our doors over a week ago, our properties have donated more than 45 tons of food to local food banks and homeless shelters in our communities, ensuring our perishable food items can help those in need. In addition, our properties have donated thousands of unused masks and surgical gloves to first responders and health care providers. In times of crisis, we come together. Penn National is taking the following additional short-term actions to reduce our cost structure during the property closures:   • Immediate, meaningful pay cuts for me and our remaining property and corporate leadership teams until such time as our properties have substantially returned to normal operations; • Our Board of Directors has elected to forgo any of their cash compensation until such time as our properties have substantially returned to normal operations; • The majority of Corporate team members will also be furloughed, and we’ll be operating with a minimum, mission critical staffing of less than 850 team members companywide during the closures.   Pride, hard work, perseverance, family focus and grit has defined us over the years at Penn National, and that is exactly what will get our Company through this current challenge as well. I recognize that you have many choices in how to spend your entertainment dollars and I am so appreciative for the loyalty you have shown to our casinos and team members over the years. We will continue to update you about your local casino through email and through our social media accounts. In the meantime, please be mindful to take steps to protect yourself and your loved ones, including social distancing and recognizing those who are most vulnerable, including the elderly and those with underlying health conditions. Sincerely, Jay Snowden President and Chief Executive Officer Penn National Gaming, Inc. GAMBLING PROBLEM? PLEASE CALL 800.522.4700 Must be 21. Self-exclusion program enrollees in any state in which Penn National Gaming affiliated properties operate, are not eligible to gamble at any property. Gambling problem? Call 1-800-522-4700 for help. In MO 1-888-BETSOFF, IN 1-800-9-WITH-IT, OH 1-800-589-9966, PA, IL, NJ and WV 1-800-GAMBLER, MA 1-800-426-1234, MI 1-800-270-7117, NM 1-888-696-2440 MS 1-888-777-9696. ©2020 Penn National Gaming, Inc. All Rights Reserved. This email was sent by: Penn National Gaming 825 Berkshire Blvd # 200 Reading, PA, 19610-1247 If you do not wish to receive further emails from Penn National Gaming, Inc., unsubscribe here. This message was intended for Hanh Vo A4000733588, 012049@gmail.com.