Las Vegas Sands (LVS) Proxy filing summary

Executive summary

• Achieved record financial results in 2025, including $13.02B net revenue, $1.87B net income, and $5.23B adjusted property EBITDA, with $2.94B returned to stockholders through repurchases and dividends.

• Completed major capital investments at Marina Bay Sands (MBS) in Singapore and The Londoner Grand in Macao, with MBS delivering a record $2.92B adjusted property EBITDA, up 42% year-over-year.

• Began construction on a new $8B expansion at MBS, including additional entertainment and suite capacity, and continued to invest in Macao properties.

• Maintained strong balance sheet and investment grade rating, enabling ongoing capital returns and new market exploration.

Voting matters and shareholder proposals

• Stockholders will vote to elect eight directors for one-year terms, ratify Deloitte & Touche LLP as independent auditor, and approve an advisory (non-binding) say-on-pay vote for executive compensation.

• Board recommends voting FOR all nominees, auditor ratification, and executive compensation approval.

Board of directors and corporate governance

• Board consists of eight directors, majority independent, with diverse expertise in finance, hospitality, governance, and international business.

• Four standing committees: Audit, Compensation, Nominating and Governance, and Compliance, all comprised of independent directors.

• Annual board and committee self-evaluations, stock ownership requirements for directors and officers, and no classified board or poison pill.

• Controlled company status due to Adelson family ownership of 58.2% of outstanding shares.