BOYD GAMING CORP

1. Includes 24,169 Restricted Stock Units issued to the Reporting Person pursuant to the Issuer's 2020 Stock Incentive Plan. Each Restricted Stock Unit represents a contingent right to receive one share of Issuer common stock upon vesting. The Restricted Stock Units are subject to the forfeiture and other terms and conditions contained in the award agreement and the 2020 Stock Incentive Plan.

2. The Career Restricted Stock Units generally will be paid out in shares of Issuer common stock at the time of retirement at a level determined by the grantee's attained age and years of continuous service at retirement. The Career Restricted Stock Units were granted to the Reporting Person for no consideration pursuant to the Issuer's Career Shares Program under its 2020 Stock Incentive Plan. Each Career Restricted Stock Unit represents a contingent right to receive one share of Issuer common stock.