1 The Wurl TV Network Multi-Channel Streaming Video programming on Pay TV

The Wurl TV Network for video producers. Video Producer Problem Television produces enormous reach and engagement (minutes-of-viewing), but it’s difficult for video producers to participate. Traditional TV Channels - Launching a TV channel is prohibitively expensive (+$100 million) for most video producers and online studios. D2C Apps - Direct-to-consumer apps on OTT devices typically produce poor results – attracting only a small number of loyal viewers. Opportunity – Launch a “Streaming Channel”. Reach + Engagement – +90% of the world’s video viewing is on pay TV. Streaming Channels make it simple and cost effective for video producers to reach this enormous audience. Hybrid Experience – Streaming Channels combine pay TV’s enormous reach and effortless discovery with the high engagement of on-demand streaming apps. iSTBs - Leverage the streaming capabilities of millions of Internet-connected STBs (iSTBs) now deployed by operators. 2

Cable operators are rapidly replacing legacy set-top boxes with Internet-connected set-tops – “iSTBs”. Today, +55 million Internet- connected STBs deployed by cable operators enable new programming from streaming services. Source: Arris 3 STBs (millions, U.S.) Total pay TV set- tops Internet-connected pay TV set- tops

iSTBs are deployed by every major pay TV operator 4 OperatorTotal Pay TV Subscribers Total Pay TV Viewers iSTBs (estimated) DirecTV26.3 million 66.8 million20 million Comcast22.3 million 56.6 million12 million Charter17.2 million 43.7 million6 million Dish13.9 million 35.3 million5 million Cablevision2.7 million 6.9 million2.7 million Suddenlink1.1 million 2.8 million1 million Mediacom879, million150,000 WOW!702, million100,000 Frontier570, million200,000 Wave Broadband415,000 1 million200,000 RCN420,000 1 million300,000 Source: Multichannel News

Source: Wurl (wurl.com/amov) iSTBs deliver higher engagement than any other TV- targeted platform. 5 Average minutes of viewing per user per month Average minutes of viewing each month per U.S. adult on each platform. Television-targeted devices

Operators are delivering new Internet-delivered, streaming programming as channels in their guides. Wurl’s Streaming TV platform allows any video producer to offer a streaming channel in operator guides. 6 Wurl Streaming Channels Proprietary Apps

7 A Streaming Channel featuring programming from millennial-targeted video producers. Wurl’s Streaming Channels combine live “scheduled” + on- demand viewing.

Each Wurl Streaming Channel delivers a video-producer- branded experience that drives high engagement. Streaming Channels provide effortless access to a video producer’s entire catalog. 8

Wurl’s Video Feed – a constantly updated list of new TV shows, videos, apps and movies. 9 For streaming programming, Wurl’s “Video Feed” is replacing the traditional guide.

Opportunity: For video producers, iSTBs provide more reach and engagement than any other platform. Audience - Pay TV delivers a larger and more engaged video audience than any other device. Over 250 million U.S. viewers watch for +4 hours every day. Over 1 billion worldwide (and growing). Technology – Operators are replacing traditional set-tops with Internet-connected STBs (iSTBs) capable of delivering new streaming services. Streaming Programming Demand – On iSTBs with Streaming Channels deployed, +25% of viewing time has migrated to streaming video programming. Operators & viewers want more. Ad Inventory Demand – Demand far exceeds the supply of programmatic ad inventory on TV. 10

Our service is FREE! No cost for video producers. Asset management – mezzanine asset ingest, metadata normalization, hosting, ABR transcoding, CDN. Ad management – Ad decisioning/management. Advertising sales. Realtime, targeted ad insertion. Channel origination – Curation, programming, promotion. iSTB Technology – Development and management of video player software on dozens of iSTB devices. Pay TV operator management – Promotion, channel placement, on- air advertising, channel entitlement, support. 11

Wurl’s business model is simple. Advertising We sell. Programmatic. Currently using YuMe and Spotx. We manage. Ad-decisioning based on DFP. Video producer option to sell. Light ad load to start - <5% of viewing time. Revenue Wurl services fee: First $5.00 of realized CPM. 12

Rollout Schedule Wurl’s Streaming Channels are currently integrated with iSTBs in use by +20 operators –Including: WOW!, Fidelity, Access Communications, RCN, Suddenlink, GCI, Comporium, CCI, Docomo, Eagle Broadband, Easton Cable, Ellijay Cable, MI Connection, Service Electric, Shentel Cable, Summit Broadband, TDS, Wave Broadband. –Viewers: +10 million In field trials now. GA starts in July. 13

Next Steps Agree to participate. Sign our distribution agreement. Provide us with a feed (wurl.com/onboarding). 14

Soon, every cable channel will be a streaming channel. 15 Thank you! Wurl, Inc. Palo Alto, California