RESEARCH OVERVIEW Sept 2014

DOMESTIC 2

3 Annie is a beloved brand among general audiences and families alike. Moviegoers are connected to the story and its iconically optimistic, lovable, red-headed heroine. However, the casting of Quevanzhané Wallis for the upcoming Annie reboot caused some audiences to question whether the new Annie would be too different from the original character. Rules of the Campaign: Introduce our Annie in a way that reassures audiences that she’s the same spunky, charming girl as the classic character they love. Preserve and convey the classic essence of Annie’s character and the themes behind her story to ensure what they love about the brand isn’t changing. Jamie Foxx: With strong fanship among the General Audience, emphasizing his modern take on Daddy Warbucks can draw in General Audiences, especially males. Comedy: Consider making the humor a bit edgier than the classic – still appropriate for kids, but comedy for adults too. Holiday Event: With a Christmas release, convey that seeing ANNIE at the theater will be a fun activity to do with family and friends. December 2013

4 At its first screening in Long Beach, Annie played to a highly favorable response among a family audience. Parents’ “excellent” ratings and “definite recommend” scores (to friends and parents) were very strong among mothers and the limited number of fathers in the audience. Top box ratings among kids were solid across the board (led by older kids). Word of mouth scores among kids were somewhat above the norm overall and in most segments, but dipped among boys who were understandably more hesitant to tell friends they should see the movie musical right away. It’s important to note that this screening was comprised of 36% Caucasians, 29% African Americans, and 24% Hispanics. ExcellentTop 2Def. Rec Def. Rec to Parents Parents Total Dads Moms Kids Total Boys Girls Under April 26, 2014

5 At its second screening in Westminster, CO, Annie again played to a positive response among parents and kids. Playability scores suggest that Annie played better to the Long Beach family audience than a family audience from the Denver area. The variation in response was mainly among parents, as their Denver scores were good (5-10 points above norm), but their Long Beach scores were well above average (22-28 points above norm). Kids had a fairly similar response at both locations, with scores only a few points higher in Long Beach (3-4 points higher overall). Mothers and girls were the most favorable segments in the Denver family audience. In terms of ethnic composition, Caucasians comprised a much larger percentage of the Denver audience (67% vs. 36% in Long Beach) while the most enthusiastic segment, African-Americans, were nearly absent from the Denver screening (3% vs. 29% in Long Beach). ExcellentTop 2Def. Rec Def. Rec to Parents Parents Total Dads Moms Kids Total Boys Girls Under August 6 th, 2014

6 At its third screening in Dallas, TX, Annie again played to a positive (and improved) response among parents and kids (with mothers and girls once again responding the most favorably). Playability scores suggest that Annie played better to a Dallas family audience than a family audience in the Denver area but not quite as strong as family audiences in Long Beach. The variation in response was mainly among parents, with Dallas parents registering ratings and scores that were notably more favorable than the response among parents in the Denver area. Ratings were 19 points above norm (up 14 points) and word of mouth scores were points above norm (up 8-10 points). Ratings and scores among children were on par with the Westminster, CO audience, with kids in Long Beach continuing to be just a touch more favorable. In terms of ethnic composition, the Dallas audience was more diverse than the Denver crowd. 45% were Caucasians (compared to 67% in Denver and 36% in Long Beach). African-Americans comprised 28% of the audience (vs. 3% in Denver and 29% in Long Beach). In addition 22% of the audience was Hispanic (compared to 15% in Denver and 25% in Long Beach). ExcellentTop 2Def. Rec Def. Rec to Parents Parents Total Dads Moms Kids Total Boys Girls Under August 24 th, 2014

7 Groups #1 Boston, MA | April 4 th, 2014 Shown: Trailers Very promising, at the end of each group, every participant said they’d be definitely interested in seeing the movie in a theater. Humor is the most significant driver of interest for Annie. Trailers that worked best showcased a series of humorous events and presented the movie in a fun, upbeat light tone from beginning to end. Music continues to be a defining component of Annie, but with such a large percentage of participants having seen a previous iteration of the film, the name Annie alone promises the music they love. The majority of females were happy to let the music take a backseat to humor, story, and characterization. Girls under 11 were the most enthusiastic towards the music and dancing. The original Annie is beloved and it should be noted that materials needn’t veer too far away from the film people know and recognize. The differences between then and now might be finer selling points, but most still want the familiar core of Annie to stay true in its modern incarnation. Groups #1 Boston, MA | April 4 th, 2014 Shown: Trailers Very promising, at the end of each group, every participant said they’d be definitely interested in seeing the movie in a theater. Humor is the most significant driver of interest for Annie. Trailers that worked best showcased a series of humorous events and presented the movie in a fun, upbeat light tone from beginning to end. Music continues to be a defining component of Annie, but with such a large percentage of participants having seen a previous iteration of the film, the name Annie alone promises the music they love. The majority of females were happy to let the music take a backseat to humor, story, and characterization. Girls under 11 were the most enthusiastic towards the music and dancing. The original Annie is beloved and it should be noted that materials needn’t veer too far away from the film people know and recognize. The differences between then and now might be finer selling points, but most still want the familiar core of Annie to stay true in its modern incarnation. Groups # 2 Denver, CO | August 5 th, 2014 Shown: TV Spots + Trailers With the exception of the teen girl group, the spots were quite effective in generating definite interest. Moms were shown the current trailer before viewing the two new pieces and all agreed the new versions were good complements to the existing one. The elements that work best in the trailer are a sense of fun, emotion, and adventure. These elements are especially important when considering our competition over the holiday. Complementary TV campaigns, with one set focusing on girls and another on moms, could be beneficial. Young girls particularly responded to big comedy, big dance, and big (large) living. Moms, on the other hand, wanted to see that story and character arcs were going to be present in the movie. Moms also had an adverse reaction to spots that hinted at a romantic relationship between Jamie Foxx and Rose Byrne. While it was never said outright, the sentiment conveyed, especially among African American moms, was that they disliked the possibility of an interracial relationship. Groups # 2 Denver, CO | August 5 th, 2014 Shown: TV Spots + Trailers With the exception of the teen girl group, the spots were quite effective in generating definite interest. Moms were shown the current trailer before viewing the two new pieces and all agreed the new versions were good complements to the existing one. The elements that work best in the trailer are a sense of fun, emotion, and adventure. These elements are especially important when considering our competition over the holiday. Complementary TV campaigns, with one set focusing on girls and another on moms, could be beneficial. Young girls particularly responded to big comedy, big dance, and big (large) living. Moms, on the other hand, wanted to see that story and character arcs were going to be present in the movie. Moms also had an adverse reaction to spots that hinted at a romantic relationship between Jamie Foxx and Rose Byrne. While it was never said outright, the sentiment conveyed, especially among African American moms, was that they disliked the possibility of an interracial relationship. Focus Groups were conducted in Boston and Denver. Groups consisted of Girls 7-15 and Moms of Girls 7-15 (Caucasian and African American) Focus Groups were conducted in Boston and Denver. Groups consisted of Girls 7-15 and Moms of Girls 7-15 (Caucasian and African American)

8 Trailer Test #1 Hard Knock v. 9 Tested below average, but given the true teaser nature of this trailer lower scores are to be expected. AA kids and parents are considerably more interested, but results still left room for improvement. Top Draws: A wholesome and fun story for the whole family Appealing cast – especially Foxx and Diaz Modern re-imagining of a well-liked story Top Obstacles Too girly for boys, parents of boys, and dads Polarizing musical Genre Could be too boring – not enough action or humor Trailer Test #2 Connection v.17 Family is the core audience Important to convey a clear conflict and mission for Annie to embark on Top Draws A wholesome and fun story for the whole family Appealing cast – especially Foxx and Diaz Modern re-imagining of a well- liked story Drew more enthusiasm for the music and humor Top Obstacles Too girly and ‘female’ for general viewers Polarizing musical genre Remake was unnecessary Trailer Test #3 Connection V.35 Dream v. 14 Core audience received them well, making strong improvements over the first test and providing clear path forward for initial trailer release. Recommend raising the stakes emotionally, showing Mr. Stack’s becoming increasingly concerned for Annie, and in plot by indicating (in different ways) that there will be some obstacles before a triumphant ending. Top Draws Music and humor A good, fun, inspirational story Modern re-imagining of a beloved story Top Obstacles Polarizing musical genre Numerous versions already exist Too girly for some viewers

INTERNATIONAL 9

UK Brand familiarity: Very good Brand is pretty well-known, and even more so among adults. About half overall have heard songs from ANNIE Girls most likely to be big fans Known for being family-friendly, classic Moms, girls, and (to a lesser extent) female generals are the target; males will be tough to convert The music, “fun factor”, and promise of a new take on ANNIE will be key selling points JAPAN Brand familiarity: Solid-to-good While not as quite high as the UK, decent familiarity and favorability Female generals likely the most gettable audience; girls and moms will need a bit more convincing An inspirational, more character-driven approach might work best here FRANCE Brand familiarity: Weak GERMANY Brand familiarity: Weak Limited profile Most have no experience with the brand Limited profile Most have no experience with the brand 10

Gen. Aud MalesFemalesNorm <2525+< There’s some potential for ANNIE among general audiences in Japan; the trailer got a very good response among females Moms and girls might be tricky: young girls may be mostly on board, but moms aren’t convinced their kids will like or understand the story The inspirational story, a desire to root for Annie, and the music are top interest drivers 11 Encouraging scores among moms and girls (driven by younger girls 7-9) Among general audiences, older females (25+) are also in a good place Guys are largely un-gettable for this film; the musical genre is a main barrier The “fun factor” and music drive interest Annie is a popular character, and audiences look forward to seeing a fresh take Definite Interest Gen. Aud MalesFemalesNorm <2525+< GirlsNormMoms*Norm *Interest in taking child Moderate responses across key segments (girls, moms, and gen. audience females). Guys are largely un-gettable for this film; the musical genre is a main barrier Annie is likeable character for moms and girls who find the orphan story as well as her personality appealing Primary Interest due to perceiving Annie as a fun film for families but this perception may hold back older girls as they feel it looks too young for them Definite Interest Gen. Aud MalesFemalesNorm <2525+< GirlsNormMoms*Norm *Interest in taking child Definite Interest GirlsNormMoms*Norm 2830 *Interest in taking child

Across all segments definite interest post-Blue exposure was higher than Red – even among Annie fans. The Red background, though eye-catching, overpowers the other elements. The Blue cityscape offers a better balance and provides more details about the film. Across all segments definite interest post-Blue exposure was higher than Red – even among Annie fans. The Red background, though eye-catching, overpowers the other elements. The Blue cityscape offers a better balance and provides more details about the film. 12 Poster tests were conducted among moviegoers consisting of Moms, teen girls, and girls 7-12 in the UK and Germany to determine which poster was most effective in driving interest to see ANNIE. In both the UK and Germany the BLUE poster was the clear winner. Poster tests were conducted among moviegoers consisting of Moms, teen girls, and girls 7-12 in the UK and Germany to determine which poster was most effective in driving interest to see ANNIE. In both the UK and Germany the BLUE poster was the clear winner. Blue generated greater interest among Annie fans and wins out in the forced choice horserace against Red among all segments. The blue cityscape was seen as more inviting, family friendly, funny, and cool. Again moviegoers found the Red to be overpowering. Blue generated greater interest among Annie fans and wins out in the forced choice horserace against Red among all segments. The blue cityscape was seen as more inviting, family friendly, funny, and cool. Again moviegoers found the Red to be overpowering. BLUE RED

13 UK Odeon Kingston London May 27 th, 2014 London moviegoers responded positively at the recruited screening. Film played well among girls 7-12 and promisingly teen girls who recommend scores were above average. Mom’s were receptive to the film as well score at norm. Main draws to the screening were the Cast (Diaz and Fox) and familiarity with the Annie Story/Movie UK Odeon Kingston London May 27 th, 2014 London moviegoers responded positively at the recruited screening. Film played well among girls 7-12 and promisingly teen girls who recommend scores were above average. Mom’s were receptive to the film as well score at norm. Main draws to the screening were the Cast (Diaz and Fox) and familiarity with the Annie Story/Movie Upcoming Screenings MEXICO Cinemex Universidad Mexico City October 4 th, 2014 JAPAN Tokyo November 22, 2014 Upcoming Screenings MEXICO Cinemex Universidad Mexico City October 4 th, 2014 JAPAN Tokyo November 22, 2014