FL Entertaiment SPAC

6 and high and resilient cash generation Aggregated adjusted cash conversion (%)³ 81% 381 71 310 2019A 80% +31% growth 2019-21A 364 117 247 2020A Aggregated adjusted FCF (€m)¹,2 82% 498 162 335 2021A ~80% 2022E • High cash conversion characterized by low capex- intensity business model for both businesses Banijay BetClic Everest GROUP 1. Aggregated financials for Banijay and Endemol Shine in 2019 and 2020, including respectively €189m and €54m adjusted FCF contribution from Endemol Shine in 2019 and 2020. 2. Defined as Adjusted EBITDA- Purchase of PP&E and of intangible assets - Total cash outflows for leases that are not recognised as rental expenses. 3. Defined as Aggregated adjusted Free-cash flow/Aggregated adjusted EBITDA 20

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