Analyst Presentation. 31 March 2012

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1 Analyst Presentation 31 March 2012

2 Welcome Financial results Giles Willits CFO Business overview Darren Throop CEO No.1 independent multi-territory distributor Analyst Presentation

3 FINANCIAL RESULTS Giles Willits, CFO Analyst Presentation

4 Financial Highlights FY12 FY11 Change Revenue 502.7m 469.7m +7.0% Underlying EBITDA m 42.5m +23.8% Adjusted Profit Before Tax m 32.3m +33.1% Adjusted diluted EPS p 13.0p +18.5% Investment in Content 135.8m 91.3m +48.7% Adjusted net debt m 38.6m +14.2% 1 Underlying EBITDA is operating profit before one-off items, share-based payment charges, depreciation and amortisation of intangible assets. 2 Adjusted profit before tax is profit before tax from continuing operations before operating one-off items, share-based payment charges, one-off items within net finance charges, depreciation and amortisation of aquired intangible assets. 3 Adjusted diluted earnings per share is adjusted for operating one-off items, share-based payment charges, amortisation of acquired intangible assets, one-off items within net finance charges and taxation. 4 Adjusted net debt includes net borrowings under the Group s senior debt facility. Analyst Presentation

5 Operating Business results - Film Revenue m Underlying EBITDA m Financial Highlights Revenue of million, up 13% driven by continuing growth in the UK and strong performance in Australia Investment in content increased by 17% to 64.2m (2011: 55.0m) Underlying EBITDA up 41% at 34.9 million reflecting strong improvement in operating margins from mix of revenues across all windows In order to provide like for like comparisons, this and the slides that follow include the results and prior year figures on a proforma and constant currency basis. Proforma includes the results of Hopscotch, which was acquired on 13 May 2011, as if that business had been acquired on the first day of the comparative period. Constant currencies have been calculated by retranslating the comparative figures using weighted average exchange rates for the period to 31 March The impact of currency movements has had an immaterial impact on revenue and underlying EBITDA in the period. Analyst Presentation

6 Operating Business results - Television Revenue m 67.9 Underlying EBITDA m Financial Highlights Revenue of 96.5 million, up 42% due to good progress in commissioning new programmes and renewing existing shows Investment in content and programmes increased by 83% to 72.0 million Contracted sales not yet recognised at the year end relating to work in progress was 47 million (2011: 21 million) Underlying EBITDA up 40% at 15.4 million reflecting revenue increases, margins broadly flat Family delivered 16.4 million (2011: 14.1 million) of revenues and 5.9 million (2011: 5.2 million) of underlying EBITDA Analyst Presentation

7 Operating Business results - Distribution Revenue m Financial Highlights Overall revenue at million was 16% lower than the prior year following challenging market conditions in Canada EBITDA declined by 50% to 6.5 million The US business performance was broadly flat year on year Underlying EBITDA m Analyst Presentation

8 Revenue and Earnings Underlying EBITDA m 26% Underlying EBITDA m 11% 23% 51% 27% 62% Film Television Distribution Film Television Distribution Quality of earnings continues to improve with Film and Television accounting for 89% of Group EBITDA in 2012 (2011: 74%) Analyst Presentation

9 One-off items FY12 FY11 One-off items 3.8m 2.7m FY12 includes costs relating to the strategic review and to the acquisition of Hopscotch FY11 includes final charge for step up to Main Market and corporate acquisition costs Analyst Presentation

10 Finance charges FY12 FY11 Net finance charges 6.4m 8.9m One-off financing charges - ( 1.8m) Mark to market 0.7m 0.7m Adjusted finance charges 7.1m 7.8m Adjusted finance charges down reflecting lower average net debt year on year Cash interest cover up to 9.2x (2011: 8.2x) Analyst Presentation

11 Earnings Per Share FY12 FY11 Change Adjusted PBT 43.0m 32.3m +33.1% Adjusted Diluted EPS 15.4p 13.0p +18.5% Adjusted PBT increase reflects the increased operating profit and lower finance charges EPS improvement reflects improved adjusted PBT and decreased effective tax rate to 26.0% (2011: 27.2%) partially offset by increased number of fully diluted shares 183.8m shares in issue (2011:163.9m) increase reflecting full year effect of February 2011 raise and Hopscotch consideration shares 22.6m dilution from options and MPS scheme (2011:16.2m) increase mainly reflecting the impact of the higher average share price in FY12 on MPS shares Analyst Presentation

12 Cashflow Senior Debt FY12 TV Prod n FY12 Total Group FY12 Senior Debt FY11 TV Prod n FY11 Total Group FY11 Operating cash inflow 74.6m 49.5m 124.1m 66.0m 38.9m 104.9m Investment in content ( 66.2m) ( 69.6m) ( 135.8m) ( 53.7m) ( 37.6m) ( 91.3m) Other capex ( 1.9m) ( 0.1m) ( 2.0m) ( 1.5m) ( 0.1m) ( 1.6m) Free cash flow 6.5m ( 20.2m) ( 13.7m) 10.8m 1.2m 12.0m Cash flows from operating activities at million were 18.3% ahead reflecting strong growth across the Group In Television Production, investment in programmes increased 85.1% resulting in negative free cash flow supported by increased interim production financing debt Elsewhere the Group was free cash flow positive despite a 23.3% increase in cash investment in content spend, as a result of strong operating cash inflows Analyst Presentation

13 Net Debt FY12 FY11 Adjusted net debt 44.1m 38.6m Television Production Debt 46.1m 22.1m Net Debt 90.2m 60.7m The increase in net debt comprises an increase in adjusted net debt of 5.5 million and increase of 24.0 million in net debt in the Television Production business Adjusted net debt leverage further reduced year on year to 0.8 times (2011: 0.9 times) Television Production net debt increased by 24.0 million year on year reflecting the large number of high value productions in progress at the year end Analyst Presentation

14 Summary (reported) Revenue* m Underlying EBITDA* m Investment in content and programmes m Library value $USm * Continuing operations Analyst Presentation

15 BUSINESS REVIEW Darren Throop, CEO Analyst Presentation

16 Overview Business Update Another strong year for the Company with significant developments across all parts of the business Strategy The performance of the business in 2012 confirms the success of the Group s strategy to invest in Film and Television content rights to create long term shareholder value for investors Acquisitions Opportunities exist across all areas of the business Analyst Presentation

17 Business Update Analyst Presentation

18 Film Significant progress during the year underpins our market leading position Increase in investment in content in 2012, plan to invest more in 2013 Hopscotch acquisition and integration completed outperforming expectations Digital growing significantly, content is critical for development of new digital consumer platforms New initiatives launched to provide further growth US ~ 10 limited release theatrical titles planned for 2013 International ~ represented two films at 2012 Cannes Festival Strong pipeline of content for 2013 and beyond supported by successful Cannes Festival Analyst Presentation

19 Film selection of 2012/13 releases Seeking a Friend for the End of the World Cosmopolis Virginia Killer Joe Looper The Host Moonrise Kingdom The Sapphires The Angels Share Investor Presentation 2012 Beasts of the Southern Wild The Twilight Saga: Breaking Dawn Part 2 Marley 18

Television Television has cemented its position as one of the leading independent studios in North

to the roster of programming 2012 2011 43% 30% Series 2 Series 3 Series 4+ 10% 17% New Commission

TV production slate Significant pipeline of new productions for 2013 from existing production partners

20 Television Television has cemented its position as one of the leading independent studios in North America Strong year of new commissions and renewals with 237 half hours of production Increasing balance to the roster of programming % 30% Series 2 Series 3 Series 4+ 10% 17% New Commission International sales business growth - extending acquisitions of third party TV series to complement our TV production slate Significant pipeline of new productions for 2013 from existing production partners and international co-production deals Saving Hope and Rogue in addition to anticipated renewals Analyst Presentation

Strong development slate to complement existing series renewals Primetime programmes Factual programmes

hour reality Black & Blue One hour series Twin Life (The Hogan Twins) One hour factual Development slate

min The Almighty Johnsons One hour series Victoria Secret Treasure Half hour reality The Reel One hour

21 Strong development slate to complement existing series renewals Primetime programmes Factual programmes Key titles Format Broadcaster Key titles Format Commissioned Port Hope One hour series The Sheards One hour reality Black & Blue One hour series Twin Life (The Hogan Twins) One hour factual Development slate Wondrous Strange Deep One hour series One hour series Great White Bear Martian War One hour docu-soap 90 min The Almighty Johnsons One hour series Victoria Secret Treasure Half hour reality The Reel One hour series Top Dawgs Half hour reality / game show Upstate One hour series Ancient Sin Cities Half hour factual 20

22 Family The Family business had another good year with strong licence renewals and the continued success of Peppa Pig Peppa Pig still No.1 in the UK and continues to expand well internationally US on track for nationwide launch in Autumn 2012 International significant success in broadcast Ben & Holly s Little Kingdom Continues to generate strong ratings in the UK with year on year L&M growth, new episodes due for delivery in 2012 New Developments Expect to commence production on two new series by the end of the year Analyst Presentation

Peppa Pig international platforms for broadcast and L&M are rapidly expanding Television platform Key toy partner L&M platforms Licensing programme eone broadcast partners Geography Shows and

Character Options 65+ licensees France 5 / TiJi In development In development Nickelodeon In development In development Clan (RTVE) / Disney Bandai 10+ licences Yoyo (RAI) / Disney Advanced

23 Peppa Pig international platforms for broadcast and L&M are rapidly expanding Television platform Key toy partner L&M platforms Licensing programme eone broadcast partners Geography Shows and frequency Europe Americas RoW five / Nick Jr. Character Options 65+ licensees France 5 / TiJi In development In development Nickelodeon In development In development Clan (RTVE) / Disney Bandai 10+ licences Yoyo (RAI) / Disney Advanced negotiations In development WDR / Kika Opportunity Opportunity Nordic Nickelodeon / DR / NRK / YLE Advanced negotiations In development CEE Minimax Bansai / Tesco Opportunity In negotiation Rossman Opportunity Nick Jr. Fisher Price 3+ licensees Treehouse / TVO Opportunity Opportunity Latin America Opportunity Opportunity Opportunity ABC Big Balloon 10+ licensees Opportunity Opportunity In development ETV Prima Toys Opportunity All existing and future seasons airing 7 days a week All existing and future seasons airing 7 days a week Scheduling being finalised All existing and future seasons airing 7 days a week All existing seasons 5 days a week All existing seasons 5 days a week All existing seasons 5 days a week All existing and future seasons airing 7 days a week 22

Extensive development, with support from major

Genre Format Broadcaster PJ Masks Mong & Oose PJ Masks

Hoo Pre-school 52 x 11' Winston Steinburger 6-10

Wars Family television movie 1 x 90' So Mortified!

adventure / Pre-school (boys) 52 x 11' Zapper Jack

Zapper Jack Winston Steinburger New production

24 Extensive development, with support from major international broadcasters Selection of Projects Title Genre Format Broadcaster PJ Masks Mong & Oose PJ Masks Action adventure / Pre-school (boys) 52 x 11' Oscar & Hoo Pre-school 52 x 11' Winston Steinburger 6-10 comedy 52 x 11' Mong & Oose 6-10 comedy 52 x 11' Store Wars Family television movie 1 x 90' So Mortified! 6-10 comedy 26 x 22' Ninja Cowboy Bear Action adventure / Pre-school (boys) 52 x 11' Zapper Jack 6-10 comedy 52 x 11' Ninja Cowboy Bear Oscar & Hoo Zapper Jack Winston Steinburger New production strategy based on diversification and accessing Canadian and European funding opportunities 23

25 Distribution Difficult year for distribution driven by challenging market conditions in Canada Canada DVD market experienced double digit decline Changes to the US Majors Canadian operations Going forward focused on consolidation opportunities, expanding into new categories and cost management US Steady year despite challenging retail conditions US Film initiative set to drive growth in future years Analyst Presentation

26 Strategy Overview Analyst Presentation

27 A clear strategy for growth Entertainment One s goal is to become the world s leading independent entertainment company through the ownership and distribution of Film and Television content rights across all media throughout the world Strategic priorities 1 Investment in Content and programming 2 Maximise rights ownership 3 Expand global presence 26

28 Film 2015 target Increase film investment in core territories Investment in Film content over next 3 years of 300m+ Strategic Growth Drivers Maximise value from digital rights as market develops Preferred relationship with all major digital providers across all territories Drive US film expansion and international film business 15+ limited releases in the US and 6+ films internationally 27

29 Film growth plan across all territories Canada Target c releases per year Grow number of $1m+ titles Aim to build box office share to >9% US Target a market share of 1% Theatrically release 15+ films annually Benelux Maintain number of releases at c.60 Increase representation of local language content UK Increase release slate to c.20 titles per year Grow number of 1m+ titles by FY15 Target to grow to c.7 8% market share International Build upon existing international film sales capability International representation of c.6 titles by 2015 Australia Target number of releases to c.30 Increase box office share to c.8% by 2015, positioning business as second largest independent 28

30 Television Renewals / repeat series 2015 target Strategic Growth Drivers Co-production / strategic relationships New programming and formats 200m+ investment in programmes over 3 years c.300 half hours delivered each year International sales expansion with acquisition of third party programming 29

31 Family Grow existing brands International expansion of Peppa Pig Development of Ben & Holly s Little Kingdom 2015 target Successful Peppa Pig L&M launch in US, Australia and Europe Extend family portfolio Increase production slate Acquire individual properties Ben & Holly s Little Kingdom expanded UK L&M programme 5+ new projects delivered 30

32 Acquisitions Analyst Presentation

33 Acquisition opportunities Film New territories European and Latin American focus Consolidation opportunities in existing territories, particularly in Canada and the UK Television Expansion focused on the UK and Australia Consolidation opportunities, particularly in Canada and the US Library acquisitions Family Acquisitions of kids businesses and properties Third party rights for L&M exploitation Group Vertical integration into broadcasting in Canada and other territories Digital 32

34 Summary Analyst Presentation

35 Summary Another year of strong financial performance Future looks positive with growth driven by Organic growth Acquisition opportunities Analyst Presentation

36 Q&A Analyst Presentation

Entertainment One Ltd. Interim results for the six months ended 30 September Strong financial results underpin entry into FTSE 250

19 November 2013 Entertainment One Ltd. Interim results for the six months ended 30 September 2013 Strong financial results underpin entry into FTSE 250 Entertainment One Ltd. ( Entertainment One, eone,