Callaway Golf Company Completes Merger with Topgolf, Creating an Unrivaled Global Leader in the Game of Golf


Callaway Golf Company (NYSE:ELY) and Topgolf International, Inc; Topgolf͟Ϳ announced today that the
companies have completed their previously announced merger, following approval by shareholders of
both companies. The combined enterprise creates an unrivaled tech-enabled golf company delivering
leading golf equipment, apparel and entertainment.

Topgolf is a leading tech-enabled golf entertainment business, with an innovative platform comprised of
its groundbreaking open-air venues, revolutionary Toptracer technology, and innovative media
platform. Callaway is a leader in the global golf equipment market with a scale position in active-lifestyle
soft goods and a proven ability to deliver strong results.

͞Callaway and Topgolf are better together͕͟ said Chip Brewer͕ President and Chief Executive Officer
of Callaway leadership in the global golf equipment market and geographic diversity,
combined with Topgolf’s revolutionary technology platform and access to golfers of all abilities͕ will
allow both companies to accelerate growth and create competitive advantages. This transformational
merger has already created and will continue to create meaningful shareholder value. We are very
excited to begin this next chapter and I cannot wait to see what we can accomplish together͘͟

Erik Anderson, Executive Chairman of Topgolf, added͕ ͞I am tremendously proud of everything we’ve
achieved at Topgolf since our founding in 2000. Our dedicated team of associates, groundbreaking
Toptracer technology, and proprietary venues and media platforms have transformed the intersection
of sports and entertainment. Together with Callaway, Topgolf has the opportunity to build upon its rapid
growth story, bring the Topgolf experience to new communities and advance our mission of making golf
a more inclusive and accessible game͘͟


About Author

Glen Turk is a Wisconsin native who has been the Senior Writer/Editor of Midwest Golfing Magazine since 2006. Besides being an avid golfer, Glen enjoys traveling, music, and cheering on the finest professional sports team of all-time, the Green Bay Packers. Glen’s ultimate golf goal is to play in all fifty states and currently he is more than half way there. His other dream, albeit far-fetched, it to record an ace in all seven states of our distribution area. Thanks to an ace in Illinois in 2015, and one in Michigan in 2016, he has three down, four to go!

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