FL Entertaiment SPAC

4 Extensive consolidation opportunities for Banijay... Revenue (€bn)¹ 2.8 1.6 Banijay LIONSGATE Movie and TV 1.5 itv STUDIOS Selected global content production players ----- 1.5 Global content spend: ~€200bn² Top players mentioned below representing ~6% Fremantle Studios BBC STUDIOS WARNER DISCovery MEDIA CHANNEL 1.4 Merger of AT&T's WarnerMedia with Discovery Announced in May-2021 / $43bn transaction 1.0 Alediawan 0.9 MGM Film and TV content Recent consolidation transactions in content production amazon AllB 0.8 prime video 0.6 Red Arrow Studios Metro Mayer TOMIS jakter MARK MGM Acquisition of MGM by Amazon Announced in May-2021 / $8.5bn transaction Sources: Companies, Press, Ampere Analysis, Factset 1. 2021A for Banijay, FY2021 for Lionsgate and BBC Studios, FY2020 for ITV Studio, Fremantle, MGM and Red Arrows Studios, FY2019 for All3media and Tinopolis, Mediawan as per company website 2. 2021E 0.3 Tinopolis 11

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