Las Vegas Sands Corp. · NYSE:LVS
Las Vegas Sands — Q3 2026 Earnings Presentation
70 slides from Las Vegas Sands's earnings presentation, Oct 21, 2026
Slide 1: 3Q26 Earnings Presentation
3Q26 Earnings Presentation October 21, 2026
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains forward-looking statements made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include the discussions of our business strategies and expectations concerning future
Slide 3: Investment Case and Strategic Priorities
Investment Case and Strategic Priorities Investment Case: Global leader in Integrated Resort development and operation delivering industry-leading returns Largest scale operator in the most important markets with industry-leading revenues and margins Strong balance sheet and cash flow generati
Slide 4: Quarterly Highlights
Quarterly Highlights 3Q26 Summary Overview FINANCIAL PERFORMANCE & RETURN OF CAPITAL CONSOLIDATED FINANCIALS RETURN OF CAPITAL TO SHAREHOLDERS & PURCHASE OF SANDS CHINA STOCK Net revenue decreased 3.5% to $3.22 billion LVS repurchased $950 million of common stock in 3Q26 Net income decreased 2
Slide 5: Third Quarter 2026 Financial Highlights
Third Quarter 2026 Financial Highlights Quarter Ended September 30, 2026 v. September 30, 2025 ($ in US millions, except per share information) LVS Consolidated Third Quarter Financial Results 3Q25 3Q26 $ Change % Change Net Revenue $3,331 $3,216 ($115) -3.5% Net Income 491 352 (139) -28.3% Net Inco
Slide 6: LVS Adjusted Property EBITDA
LVS Adjusted Property EBITDA Select Quarterly Results LVS Adjusted Property EBITDA ($ in US millions) Assuming Expected Hold in our Rolling Play1 -$71 -$9 $1,500 -$45 $1,414 $1,421 $1,344 +$50 -$7 $1,200 $1,119 $1,119 $900 $600 $300 $0 3Q25 4Q25 1Q26 2Q26 3Q26 1. These amounts present the illustrati
Slide 7: Third Quarter 2026 Adjusted Property EBITDA
Third Quarter 2026 Adjusted Property EBITDA ($ in US millions) Adjusted Property EBITDA 3Q25 3Q26 Change % Change Marina Bay Sands $743 $590 ($153) -20.6% Adjusted Property EBITDA Margin 51.7% 45.6% -610 bps Macao Operations $601 $529 ($72) -12.0% Adjusted Property EBITDA Margin 31.5% 27.3% -420 bps
Slide 8: Marina Bay Sands
Marina Bay Sands 3 Sands
Slide 9: Marina Bay Sands
Marina Bay Sands Market-leading Premium Suites and Service Offerings Drive Strong Financial Performance Adjusted Property EBITDA1 The high end of the premium gaming segment was softer ($ in US millions) during the quarter Assuming Expected Hold in Our Rolling Play2 $1,000 +$6 Financial results for
Slide 10: Marina Bay Sands Mass Gaming Revenue (Tables & Slots)
Marina Bay Sands Mass Gaming Revenue (Tables & Slots) MBS Mass Gaming Revenue (Tables & Slots) ($ US in millions) Completion of 775 upgraded suites $1,000 $951 $950 $905 $902 $900 $886 $843 $850 $826 $800 Initial delivery of $778 upgraded suite product $746 $750 $700 $687 $668 $650 $604 $600 $580 $5
Slide 11: Marina Bay Sands: Hold Impact Disclosures
Marina Bay Sands: Hold Impact Disclosures Implementation of Smart Table Technology Enables Calculation of Theoretical Hold Rates Marina Bay Sands introduction of smart tables: Marina Bay Sands (MBS) has rolled out smart table technology across its baccarat gaming areas This smart table system us
Slide 12: Sands China
Sands China 3 Sands
Slide 13: Sands China
Sands China Market-leading Asset Portfolio Positioned for Growth SCL continues to focus on enhancing service levels, improving the Adjusted Property EBITDA customer experience and investing in our product ($ in US millions) Assuming Expected Hold Market share of mass revenue in the Macao market
Slide 14: Sands China Financial Performance
Sands China Financial Performance Quarter Ended September 30, 2026 v. September 30, 2025 ($ in US millions) Net Revenue Adj. Property EBITDA Adj. Property EBITDA Margin Growth Growth Growth 3Q25 3Q26 $ % 3Q25 3Q26 $ % 3Q25 3Q26 bps The Venetian Macao $692 $649 (43) -6.2% $242 $205 ($37) -15.3% 35.0%
Slide 15: Sands China Mass Market Table Update
Sands China Mass Market Table Update Base Mass and Premium Mass Table Win SCL Base Mass Table Win by Quarter SCL Premium Mass Table Win by Quarter ($ in US millions) ($ in US millions) Avg. Win per Avg. Win per Table per Day: Table per Day: $7,924 $15,092 $900 -4% v. $900 Flat v. 3Q25 3Q25 $822 $791
Slide 16: Sands China Mass Market Revenue Share Update
Sands China Mass Market Revenue Share Update Mass GGR Tables & Slots SCL Mass Gaming Revenue (Tables & Slots) and Mass Market Revenue Share1,2 ($ in US millions) $2,000 40% $1,781 $1,738 $1,689 $1,691 $1,688 $1,580 $1,583 $1,531 $1,529 $1,559 $1,505 $1,500 $1,445 $1,447 35% $1,321 $1,029 $1,000 30%
Slide 17: Sands China: Macao Market EBITDA Share
Sands China: Macao Market EBITDA Share Macao Concessionaire Adjusted Property EBITDA Share 100% 1 23.5% 30.1% 29.1% 31.1% 29.9% 27.4% 27.8% 28.8% 28.1% 29.3% 35.3% 33.7% 35.0% 33.5% 80% 5.5% 6.3% 4.4% 5.4% 4.0% 5.5% 5.8% 6.7% 5.5% 0.4% 3.5% 4.6% 7.1% 4.1% 16.4% 60% 15.7% 15.9% 14.7% 16.4% 16.2% 15.9
Slide 18: Balance Sheet, Liquidity, Return of Capital to Shareholders and Capital Expenditures
B a l a n c e S h e et , L i q u i d i t y, Re t u r n o f C a p i t a l to S h a re h o l d e rs a n d C a p i ta l E x p e n d i t u re s
Slide 19: Strong Balance Sheet and Liquidity
Strong Balance Sheet and Liquidity As of September 30, 2026: Trailing Twelve Months Ended September 30, 2026: Cash Balance1 – $2.86 billion Adjusted Property EBITDA – $5.07 billion Liquidity2 – $7.13 billion Cash Flow from Operations3 – $3.49 billion Debt – $15.30 billion Net Debt – $12.
Slide 20: LVS Return of Capital
LVS Return of Capital Return of Capital 2023 – 2026 Predominantly Share Repurchases Repurchases Comprise ~76% of Capital Return Total Capital Returned to LVS Shareholders 3Q23 – 3Q26 (Share amounts and $ in US millions) Total 3Q23 - 3Q26 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q
Slide 21: Capital Expenditures Expectations
Capital Expenditures Expectations Investments to enhance our industry-leading portfolio of Integrated Resorts in Singapore and Macao Investment in high-quality assets drives revenue growth Scale and quality of assets create competitive advantage ($ in US millions) LVS Capex Expectations $3,000 $
Slide 22: Appendices
3s HE Sands
Slide 23: Appendices
Appendices - Marina Bay Sands Recently Completed Investments and Expansion Project Update 25-32 - Macao Market and Sands China Additional Information 34-48 - Environmental, Social and Governance (ESG) 50-52 - Retail Mall Operations and Supplemental Information 54-56 - Illustrative Impact of Hold in
Slide 24: Marina Bay Sands Recently Completed Investments and Expansion Project Update
M a r i n a B ay S a n d s Re c e nt l y C o m p l et e d I nve s t m e nt s a n d E x p a n s i o n P ro j e c t U p d ate
Slide 25: Marina Bay Sands: Suite Renovation and Refurbishment Program Completed in 2Q25
Marina Bay Sands: Suite Renovation and Refurbishment Program Completed in 2Q25 Elevation of Hotel Towers, Premium Gaming Areas, Public Spaces, Lifestyle Experiences Renovation and Refurbishment Program to elevate and enhance room and suite product and conduct refurbishments to increase Singapore’s
Slide 26: Marina Bay Sands Completed Capital Investment
Marina Bay Sands Completed Capital Investment Suite Renovation and Refurbishment Program Completed in 2Q25 26
Slide 27: Marina Bay Sands Completed Capital Investment
Marina Bay Sands Completed Capital Investment Introduction of New Suites and Amenities Completed in 2Q25 27
Slide 28: Marina Bay Sands Expansion Project
Marina Bay Sands Expansion Project New Offerings and Amenities to Enhance Tourism Appeal of Singapore Iconic Design: A new property designed by Moshe Safdie, the architect of the original Marina Bay Sands, that will redefine the Singapore skyline The Skyloop: Multi-story signature rooftop experi
Slide 29: MBS Expansion Project Development Cost Estimate Summary
MBS Expansion Project Development Cost Estimate Summary ($ in US billions) Original Land Premium (paid 2019) $1.0 Note: Land Premium 1 Additional Land Premium 1.0 for 47-Year Leasehold Total Land Premiums $2.0 25% Additional Development Costs: Hard Construction Costs $3.5 2 Soft Construction Costs a
Slide 30: Marina Bay Sands Expansion Project Estimated Development Timeline
Marina Bay Sands Expansion Project Estimated Development Timeline Estimated Date Key Milestone Status October 2024 Submission of development application to the Urban Redevelopment Authority Complete May 2025 Commencement of piling and foundation work Complete May 2025 - 20301 Estimated 55 to 6
Slide 31: Marina Bay Sands Expansion Project Development Capital Expenditure Expectations
Marina Bay Sands Expansion Project Development Capital Expenditure Expectations1,2,3 ($ in US millions) MBS Expansion Project Capital Expenditure Expectations $2,000 $1,850 $1,500 $1,200 $1,150 $1,065 $1,000 $1,000 $587 $848 $500 $500 $137 $350 $450 $200 $217 $0 2024 and Prior 2025A 2026E 2027E 2028
Slide 32: Marina Bay Sands Expansion Project: Contributing to Singapore's Economic Growth
Marina Bay Sands Expansion Project Contributing to Singapore’s Economic Growth and Enhancing Singapore’s Tourism Appeal Marina Bay Sands Original Integrated Resort Contributed meaningfully to economic growth and to Singapore’s appeal as an exciting global city Delivered iconic architecture to Si
Slide 33: Macao Market and Sands China Additional Information
M a c a o M a r ket a n d S a n d s C h i n a A d d i t i o n a l I n fo r m a t i o n
Slide 34: Macao Market: Mass Gaming
Macao Market: Mass Gaming Mass GGR Tables & Slots Macao Market Mass Gaming Revenue (Tables & Slots)1,2 ($ in US millions) $8,000 -3% $6,873 $6,891 $6,758 $7,000 $6,673 $6,503 $6,473 $6,171 $6,292 $6,139 $6,051 $6,141 $5,936 $6,000 $5,350 $5,000 $4,730 $4,000 $3,715 $3,000 $2,000 $1,779 $1,157 $1,000
Slide 35: Macao Market: Mass Gaming Revenue
Macao Market: Mass Gaming Revenue Macao Market Mass Gaming Revenue ($ in US millions) Mass Win (Tables and Slots)1 Q1 Q2 Q3 Q4 Total 2024 $6,171 $6,139 $6,051 $6,292 $24,653 Growth ('24 v '23) 66.1% 29.8% 13.1% 6.0% 24.9% 2025 $6,141 $6,503 $6,673 $6,873 $26,190 Growth ('25 v '24) -0.5% 5.9% 10.3% 9
Slide 36: Macao Market: VIP Gaming Revenue
Macao Market: VIP Gaming Revenue Macao Market VIP Gaming Revenue ($ in US millions) VIP Win1 Q1 Q2 Q3 Q4 Total 2024 $902 $850 $813 $839 $3,404 Growth ('24 v '23) 55.4% -3.0% 12.5% 10.9% 15.9% 2025 $996 $1,058 $1,030 $1,308 $4,392 Growth ('25 v '24) 10.4% 24.6% 26.7% 55.9% 29.0% 2026 $1,195 $750 $940
Slide 37: Macao Market: Visitation Overview
Macao Market: Visitation Overview July and August Visitation1 – 2026 v. 2025 and 2019 (millions) 1 July and August Visitation 2026 v. 2025 2026 v. 2019 2026 2025 Variance Growth 2019 Variance % of 2019 China, excluding Guangdong Province 2.43 2.44 (0.01) -0.4% 2.79 (0.36) 87% Guangdong Province 3.83
Slide 38: Macao Market: Visitation from China to Macao
Macao Market: Visitation from China to Macao1 Exclusive of Guangdong Province, Visitation2 Was Consistent with 2025 Level July and Aug. 2026 Visitation - % of July and Aug. 2025 Visitation from China to Macao1 July and August Visitation Population GDP Per Penetration Province 2025 2026 % of 2025 (MM
Slide 39: Macao Market: Macao Airport Passenger Volume
Macao Market: Macao Airport Passenger Volume Macao Airport Monthly Passenger Volume in 3Q26 was ~74% of 3Q19 Volume Macao Airport Passenger Volume (000’s) 2019 2023 - 2026 Passenger Volume in 3Q26 ~74% of 3Q19 % of 2019 3,500 100% 91% 85% 3,000 81% 80% 80% 77% 79% 74% 75% 75% 74% 80% 2,518 2,337 2,3
Slide 40: Sands China: Mass Market Table and Slots Update
Sands China: Mass Market Table and Slots Update Total Mass Table Win and Slots Win SCL Mass Table1 Win by Quarter SCL Slots2 Win by Quarter ($ in US millions) ($ in US millions) Avg. Win per Avg. Win per Table per Day: -2% v. Unit per Day: +18% v. $10,450 3Q25 $440 3Q25 $1,800 $250 $222 $223 $1,500
Slide 41: Sands China: VIP Table Metrics
Sands China: VIP Table Metrics SCL Rolling Volume by Quarter SCL Rolling Win by Quarter ($ in US billions) ($ in US millions, except per table amounts) $10 $350 $9 $9.2 $329 $300 Avg. Win per $8 +31% v. Table per 3Q25 $280 Day: $20,466 $7 $7.6 $250 $7.2 $6 $200 $209 $5.7 $5 $150 $4 $4.4 $148 $3 $100
Slide 42: Sands China: The Londoner Macao Was Completed in 2Q25
Sands China: The Londoner Macao Was Completed in 2Q25 Phase II ─ Creation of the Londoner Grand featuring 1,500 suites and 905 rooms ─ Renovation of the Pacifica casino ─ Creation of new dining, retail and entertainment offerings ─ Introduction of new health and wellness experiences Phase I ─ Lo
Slide 43: Sands China: Completed Capital Investment
Sands China: Completed Capital Investment Investments in Increased Capacity and Elevated Customer Experience Grand Suites at Four Seasons Macao The Londoner Grand 43
Slide 44: Sands China: Long-Term Commitment to Macao
Sands China: Long-Term Commitment to Macao Capital Investment Commitment in Macao Through 2032 In conjunction with the award of our concession to operate in Macao through 2032, Sands committed to spend at least $4.5 billion of investment in Macao through 2032, 93% of which will be for non-gaming pro
Slide 45: Sands China: Market Leading Investment in Macao
Sands China Market Leading Investment in Macao Investment Expansion and Reinvestment ~$18 billion 289 suites in the Grand Suites at Four Seasons Macao opened October 2020 (~1 million SF of suite product) ~30 million SF of interconnected facilities on Cotai 368 suites in Londoner Court opened
Slide 46: Sands China: Market-Leading Cotai Strip Property Portfolio
Sands China Market-Leading Cotai Strip Property Portfolio The Venetian Macao St. Regis Hotel 2,905 Rooms and 400 Suites Suites Londoner Court 368 Suites C (Opened September 2021) O Grand Suites at Four Seasons T Conrad Macao 289 Suites (Opened A 659 Rooms & Suites October 2020) I Londoner Hotel 594
Slide 47: Sands China: Market Leading Hotel Capacity
Sands China: Market Leading Hotel Capacity Sands China is the Leader in Macao Hotel Room and Suite Inventory Macao Market 4/5 Star Hotel Rooms at September 30, 20261 – Gaming Operators Cotai ~ 25,000 Rooms by Gaming Operators Total Macao ~ 29,000 Rooms by Gaming Operators MGM 10,540 Rooms and MGM 10
Slide 48: Sands China: Market Leading Hotel Capacity (cont'd)
Sands China: Market Leading Hotel Capacity (cont’d) Macao Market 4/5 Star Hotel Rooms at September 30, 2026 Cotai Total Market % of % of % of Total Concessionaire Rooms Concessionaires Rooms Concessionaires Market 16,000 Sands China 10,540 42% 10,829 38% 28% 1 Galaxy Entertainment 4,997 20% 5,497 19
Slide 49: Environmental, Social and Governance (ESG)
E nv i ro n m e nt a l , S o c i a l a n d G o ve r n a n c e ( ES G )
Slide 50: Environmental, Social and Governance (ESG)
Environmental, Social and Governance (ESG) Industry Leading ESG Platform LVS is committed to providing leadership in ESG through collaboration with Team Members, guests, SMEs and community organizations where we operate Minimizing our environmental impact, practicing good governance, operating w
Slide 51: Sustainability Awards and Certifications
Sustainability Awards and Certifications Recognized by Independent Third Parties as a Global Leader in Sustainability Highlights: Listed on the Dow Jones Best-in Class World and North America Indices and earned top 10% in the casinos and gaming industry on the S&P Global Sustainability Yearbook
Slide 52: Sustainability Awards and Certifications (cont'd)
Sustainability Awards and Certifications (cont’d) Recognized by Independent Third Parties as a Global Leader in Sustainability Las Vegas Sands Singapore Macao Dow Jones Sustainability Index, North LEED Platinum for Building Operations and Dow Jones Sustainability Index, Asia Pacific America Maintena
Slide 53: Retail Mall Operations and Supplemental Information
Reta i l M a l l O p e rat i o n s a n d S u p p l e m e nt a l I n fo r m at i o n
Slide 54: Retail Mall Portfolio in Asia
Retail Mall Portfolio in Asia Trailing Twelve Months Retail Mall Revenue ($ in US millions) TTM 3Q26 $900 $831 $818 $829 Sales per Sq. $790 $800 Foot1 $800 MBS $700 $292 $293 $287 $3,318 $275 $280 $600 Parisian Macao $18 $18 $18 $421 $500 $22 $19 $96 $98 $101 Londoner Macao $89 $92 $1,924 $400 Four
Slide 55: Retail Mall Portfolio in Asia
Retail Mall Portfolio in Asia Tenant Sales ($ per Sq. Foot, Unless Otherwise Indicated) 2 3Q26 Sales per Sq. Ft. 1 GLA Occupancy % at (Sq. Ft.) Period End TTM 3Q26 TTM 2Q26 TTM 1Q26 TTM 4Q25 TTM 3Q25 The Shoppes at Marina Bay Sands 616,037 99.5% $3,318 $3,279 $3,068 $2,967 $2,893 Shoppes at Venetian
Slide 56: Retail Mall Revenue
Retail Mall Revenue Quarterly Retail Revenue Composition - 1Q18 to 4Q19 and 1Q23 to 3Q26 ($ in US millions) Base Rent, CAM, Other1 Turnover Rent2 Sands China Mall Revenue $180 $160 $156 $148 $150 $141 $132 $136 $135 $129 47 $130 $131 $131 $124 38 $123 49 $125 $124 $125 $119 $116 22 27 21 $120 $113 $
Slide 57: Illustrative Impact of Hold in Our Rolling Play
I l l u s t ra t i ve I m p a c t o f H o l d i n O u r Ro l l i n g P l ay
Slide 58: Illustrative Impact of Hold in Our Rolling Play: Marina Bay Sands
Illustrative Impact of Hold in Our Rolling Play1 Marina Bay Sands – Select Quarterly Results ($ in US millions) Marina Bay Sands 3Q25 4Q25 1Q26 2Q26 3Q26 Actual Hold % 4.84% 4.36% 3.56% 4.74% 4.53% Expected Hold %1 4.2% 3.9% 3.6% 4.2% 4.6% Net Revenue $1,436 $1,603 $1,487 $1,380 $1,294 Expected hold
Slide 59: Illustrative Impact of Hold in Our Rolling Play: Macao
Illustrative Impact of Hold in Our Rolling Play1 Macao – Select Quarterly Results ($ in US millions) Macao Operations 3Q25 4Q25 1Q26 2Q26 3Q26 Actual Hold % 3.39% 3.92% 3.58% 1.35% 3.64% Expected Hold %1 3.3% 3.3% 3.3% 3.3% 3.3% Net Revenue $1,906 $2,058 $2,114 $1,790 $1,940 Expected hold impact1 (4
Slide 60: Reconciliation of Non-GAAP Financial Measures and Other Financial Information
Re c o n c i l i at i o n o f N o n - G A A P F i n a n c i a l M e a s u re s a n d O t h e r F i n a n c i a l I n fo r m a t i o n
Slide 61: Non-GAAP Reconciliation
Non-GAAP Reconciliation Net Income to Consolidated Adjusted Property EBITDA ($ in US millions) 3Q25 4Q25 1Q26 2Q26 3Q26 Net income $491 $448 $641 $373 $352 Add (deduct): Income tax expense 91 103 107 88 102 Other (income) expense (11) 3 3 (1) 1 Interest expense, net of amounts capitalized 187 191 18
Slide 62: Non-GAAP Measures
Non-GAAP Measures Adjusted Net Income ($ in US millions) Three Months Ended September 30, 2026 2025 Net income attributable to LVS $304 $419 Pre-opening expense 5 7 Development expense 37 72 Loss on disposal or impairment of assets 4 68 Other (income) expense 1 (11) Income tax impact on net income a
Slide 63: Non-GAAP Measures
Non-GAAP Measures Adjusted Earnings per Diluted Share ($ in per share amounts) Three Months Ended September 30, 2026 2025 Per diluted share of common stock: Net income attributable to LVS $0.48 $0.61 Pre-opening expense 0.01 0.01 Development expense 0.05 0.11 Loss on disposal or impairment of assets
Slide 64: Non-GAAP Reconciliation
Non-GAAP Reconciliation Trailing Twelve Month Supplemental Schedule ($ in US millions) 3Q25 4Q25 1Q26 2Q26 3Q26 TTM 3Q26 Cash Flows From Operations $1,115 $1,204 $731 $682 $870 $3,487 Adjust for: Provision for credit losses (18) (46) (29) (36) (21) (132) Foreign exchange gains (losses) 10 (4) (3) 1
Slide 65: Supplemental Information
Supplemental Information 3Q26 and 3Q25 ($ in US millions) Three Months Ended September 30, 2026 Amortization Loss Pre-Opening Depreciation of Leasehold on Disposal or and Adjusted Operating and Interests Impairment Development Royalty Stock-Based Corporate Property Income (Loss) Amortization in Land
Slide 66: Supplemental Information
Supplemental Information YTD 3Q26 and YTD 3Q25 ($ in US millions) Nine Months Ended September 30, 2026 Amortization Loss (Gain) Pre-Opening Depreciation of Leasehold on Disposal or and Adjusted Operating and Interests Impairment Development Royalty Stock-Based Corporate Property Income (Loss) Amorti
Slide 67: Impact of Hold-Adjustment
Impact of Hold-Adjustment ($ in US millions) 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 1 2 Marina Bay Sands 3.7% Theoretical Rolling Chip Hold % Theoretical Smart Table Rolling Chip Hold % Net Revenues $399 $679 $756 $682 $848 $925 $1,015 $1,061 $
Slide 68: Debt Maturity Profile
Debt Maturity Profile Debt Maturity by Year ($ in US millions) $3,500 $3,280 $3,007 $3,000 $2,684 $2,500 1,000 $2,186 2,180 178 $2,000 1,405 $1,691 $1,557 $1,500 1,250 $1,000 750 1,900 500 500 1,691 $500 $500 $500 2 700 650 700 600 $27 1 500 500 $0 2026 2027 2028 2029 2030 2031 2032 2033 2034 % of T
Slide 69: LVS Return of Capital 2012 - 2020
LVS Return of Capital 2012 - 2020 Total Capital Returned to LVS Shareholders 2012 - 2020 ($ in US millions) Total 2012 - 2020 3 2012 2013 2014 2015 2016 2017 2018 2019 2020 $ % LVS Sha re Repurcha s es - $570 $1,665 $205 - $375 $905 $754 - $4,474 20.0% 1,2 LVS Di vi dends Pa i d 824 1,153 1,610 2,07
Slide 70: HE Sands
3s HE Sands