Annual Information Form for the Year Ended

ANNUAL INFORMATION FORM FOR THE YEAR ENDED DECEMBER 31, 2017 March 14, 2018 TABLE OF CONTENTS EXPLANATORY NOTES 1 CAUTION REGARDING FORWARD-LOOKING STATEMENTS 1 CORPORATE STRUCTURE 2 BUSINESS OF THE CORPORATION 3 GENERAL DEVELOPMENT OF THE BUSINESS 29 RISK FACTORS AND UNCERTAINTIES 31 DIVIDENDS 57 DESCRIPTION OF CAPITAL STRUCTURE 57 MARKET FOR SECURITIES 59 DIRECTORS AND OFFICERS 60 LEGAL PROCEEDINGS AND REGULATORY ACTIONS 69 INTEREST OF MANAGEMENT AND OTHERS IN MATERIAL TRANSACTIONS 71 TRANSFER AGENT AND REGISTRAR 71 MATERIAL CONTRACTS 73 INTEREST OF EXPERTS 73 ADDITIONAL INFORMATION 73 SCHEDULE A – AUDIT COMMITTEE CHARTER A-1 EXPLANATORY NOTES Unless otherwise indicated, the information contained in this annual information form is as of December 31, 2017, and unless the context otherwise requires, references to “The Stars Group”, the “Corporation”, “it”, “its” or similar expressions refer to The Stars Group Inc. and its consolidated subsidiaries. This annual information form should be read in conjunction with the information contained in The Stars Group’s audited consolidated financial statements and related notes for the year ended December 31, 2017 (the “2017 Annual Financial Statements”) and the Management’s Discussion and Analysis thereon (the “2017 Annual MD&A”). All references in this annual information form to “dollars”, “US$” and “$” are to U.S. dollars, references to “CDN$” are to Canadian dollars, references to “€” are to Euros and references to “£” are to British pound sterling. The Corporation has certain proprietary rights to certain company names, product names, trade names and trademarks used in this annual information form that are important to its business, including, without limitation, The Stars Group, PokerStars and those brands listed under the heading “Business of the Corporation—Overview”. The Corporation has omitted the registered trademark (®) and trademark (™) symbols and any other related symbols for such trademarks and all related trademarks, including those related to specific products or services, when used in this annual information form. All other names and trademarks are the property of their respective owners. Market data and certain industry data and forecasts included in this annual information form were obtained or derived from internal and market research, publicly available information, reports of governmental agencies and industry publications and surveys. The Stars Group has relied upon industry publications as its primary sources for third-party industry data and forecasts. Industry surveys, publications and forecasts generally state that the information contained therein has been obtained from sources believed to be reliable, but that the accuracy and completeness of such information is not guaranteed. The Stars Group has not independently verified any of the data from third-party sources, nor has The Stars Group ascertained the underlying economic assumptions relied upon therein. Similarly, industry forecasts and market research, which The Stars Group believes to be reliable based upon management’s knowledge of the industry, have not been independently verified. By their nature, forecasts are particularly subject to change or inaccuracies, especially over long periods of time. In addition, The Stars Group does not know what assumptions regarding general economic growth were used in preparing the third-party forecasts that are or may be cited in this annual information form. While The Stars Group is not aware of any inaccuracies in The Stars Group’s industry data presented herein, The Stars Group’s estimates that are based on the same involve risks and uncertainties and are subject to change based on various factors, including those discussed under “Risk Factors and Uncertainties” and elsewhere in this annual information form. CAUTION REGARDING FORWARD-LOOKING STATEMENTS This annual information form contains certain forward-looking information and statements (collectively, “forward-looking statements”) within the meaning of the Private Securities Litigation Reform Act of 1995 and applicable securities laws, including, without limitation, statements relating to certain expectations, projections, growth plans, new or improved product introductions, market expansion efforts, and other information related to The Stars Group’s business strategy and future plans. Forward-looking statements can, but may not always, be identified by the use of words such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “would”, “should”, “believe”, “objective”, “ongoing”, “imply”, “assumes”, “goal”, “likely” and similar references to future periods or the negatives of these words and expressions and by the fact that these statements do not relate strictly to historical or current matters. These forward-looking statements are based on management’s current expectations and are subject to a number of risks, uncertainties, and assumptions, including market and economic conditions, business prospects or opportunities, future plans and strategies, projections, technological developments, anticipated events and trends and regulatory changes that affect the Corporation, its subsidiaries and their respective customers and industries. Although the Corporation and management believe that the expectations reflected in such forward-looking statements are reasonable and are based on reasonable assumptions and estimates as of the date hereof, there can be no assurance that these assumptions or estimates are accurate or that any of these expectations will prove accurate. Forward- looking statements are inherently subject to significant business, economic and competitive risks, uncertainties and contingencies that could cause actual events to differ materially from those expressed or implied in such statements. Actual results and developments are likely to differ, and may differ materially, from those anticipated by The Stars Group and expressed or implied by the forward-looking statements contained in this annual information form. Such statements are based on a number of assumptions and risks which may prove to be incorrect, including, without limitation, assumptions about: • the ability of the Corporation to secure, maintain and comply with all required licenses, permits, approvals, and certifications to offer and market its products and services in the jurisdictions where the Corporation is currently doing business or intends to do business; • the anticipated regulation or prohibition of online gaming or activities related to or necessary for the operation and offering of online gaming in various jurisdictions; - 1 - • the anticipated outcome of litigation involving the Corporation; • the overall business and economic conditions; • the potential financial opportunity of the Corporation’s addressable markets; • the potential financial opportunity of individual contracts signed by the Corporation with third parties; • the competitive environment; • the protection of the Corporation’s current and future intellectual property rights; • the ability of the Corporation to recruit and retain the services of its key technical, sales, marketing and management personnel; • the ability of the Corporation to develop commercially viable products and services as a result of its research and development (“R&D”) activities; • the expected taxes to be imposed on the Corporation’s revenue streams, including but not limited to, gaming duty and value-added taxes (“VAT”) on gaming revenue; • the ability of the Corporation to obtain additional financing on reasonable terms or at all; • the ability of the Corporation to integrate acquisitions and generate synergies; • the risks associated with advancements in technology, including artificial intelligence, and the risks associated with technology infrastructure, cyber security and cyber attacks; and • the impact of new laws and regulations in Canada, the United States or any other jurisdiction where the Corporation is currently doing business or intends to do business, particularly those related to online gaming or that could impact the ability to provide online gaming products and services. There can be no assurance that forward-looking statements will prove to be accurate as many factors could cause the Corporation’s actual results, level of activity, performance or achievements or future events or developments to differ materially from those expressly or impliedly expected or estimated in such statements, including, without limitation, the factors discussed under “Risk Factors and Uncertainties”. Shareholders and investors should not place undue reliance on forward-looking statements as the plans, intentions or expectations upon which they are based might not occur. Although the Corporation cautions that the foregoing list of risk factors, as well as those risk factors presented under the heading “Risk Factors and Uncertainties” and elsewhere in this annual information form and in the 2017 Annual MD&A, including under the headings “Caution Regarding Forward-Looking Statements”, “Limitations of Key Metrics and Other Data” and “Risk Factors and Uncertainties” therein, are not exhaustive, shareholders and investors should carefully consider them and the uncertainties they represent and the risks they entail. The forward-looking statements contained in this annual information form are expressly qualified by this cautionary statement. Unless otherwise indicated by the Corporation,

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