Moelis & Company Investment Banking Pitch Book

Changes and Modifications Since October 2014 STRICTLY CONFIDENTIAL MOELIS & COMPANY Selected Publicly Traded Companies Analysis • Presentations prior to today utilized market databases to calculate market values and enterprise values; market values and enterprise values contained herein are sourced from publicly available company filings • In the October 2014 presentation, DTS and Dolby Laboratories were misclassified in the IP Licensing segment and were reclassified into the Media/Technology Licensing segment in the October 2015 presentation Included CY 2017 Revenue, EBITDA and corresponding valuation multiples in the materials herein Selected Precedent Transaction Analysis • Presentations prior to today utilized market and news databases to calculate implied TEV to LTM revenue and EBITDA multiples; implied TEV to LTM revenue and EBITDA multiples contained herein sourced from publicly available company filings, Wall Street Research and publicly available market and news databases ▪ Additions, Removals and Reclassifications Removed LiveTV/ Thales Avionics transaction given lack of comparable business characteristics of LiveTV to Rhombus Added iBiquity Digital/DTS, ChyronHego/Vector Capital, Starplex/ AMC and Martha Stewart/Sequential Brands given their announcement subsequent to the initial October 2014 presentation Reclassified Bona Film/Twenty-First Century Fox from Theater Exhibitors segment to Media/Technology Licensing segment to better reflect underlying business characteristics • TEV/LTM EBITDA Multiples Reclassified as Not Available ("NA") or Not Meaningful ("NM") Reclassified Bona Film/Twenty-First Century Fox transaction to NA due to inability to verify market and news database financial results Transaction comparability is limited given minority investment and limited licensing revenue exposure Reclassified DivX/Sonic Solutions transaction to NM; initial analysis utilized market and news database derived multiple; current presentation utilizes publicly available company filings, which yields a negative EBITDA rendering the multiple NM Reclassified Hollywood Theatres/Regal Entertainment transaction to NA; initial analysis utilized market and news database derived multiple; current presentation utilizes publicly available company filings, which do not disclose target financials, rendering the multiple NA Reclassified Classic Media/DreamWorks Animation transaction to NM due to inability to verify market and news database financial results Financial . CY 2016 Management Adj. EBITDA estimates have increased from $80.3mm (per October 2015 materials) to $88.8mm in current materials due to calendarization calculation error [29]

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