Investor Presentaiton

TV RIGHTS A CLOSER LOOK KEY TV RIGHTS DEALS ACCOUNT FOR $100M+ OF REVENUE GROWTH $130 2014 TV REVENUE: KEY TV CONTRACTS1 +~105M $235 $213 $190 $175 2015 2016 2017 2018 ☐ $105M revenue growth is ~1.5x the Company's total 2010-2014 revenue growth ■ Reaches 800M+ homes worldwide ■ Key Attributes: Live audience, built-in fan base, DVR-proof ☐ 1 The Company's seven largest distribution agreements account for revenue that is expected to increase from $130 million in 2014 to approximately $235 million in 2018, thereby providing approximately $105 million of revenue growth over this period (subject to counterparty risk). Total Core Content Rights Fees in 2017 amounted to $244.3 million 24 14

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