1 February 2, 2016 Business Review BRAZIL July 2006

2 February 2, 2016 Executive Summary

3 February 2, 2016 Executive summary - YTD FY06 Forecast –Revenues of $9.600K, $625K (6%) below budget. –Net contribution reached $331K, $1,296K (80%) below budget. Highlights –Narnia. Good performance but we had to decrease IMD estimate from 4,372K to 3,000K in Revenues because of the competitive titles Harry Potter and King Kong. Net cont at 760K. –Scary Movie 4 – Good performance. We are almost flat with IMD’s estimates. –Didi – O Caçador do Tesouro. New film from a comediant always well accepted in Brazil. Revenues at 922K and Net Cont at 433K (47% over Revenues).

4 February 2, 2016 Executive summary - Full Year FY06 Forecast –Revenues of $17.3M, $1.M (6%) above budget and $2.8M (19%) above prior year. –Net contribution reached $4.2, $1.2M (23%) below budget and $0.3M (7%) below prior year. Highlights –Cars – Inclusion of Home Office Sales Goal. Always good expectations on Pixar titles. The title did not opened so well as expected due to the World Cup Brazil’s game on the same weekend. We are keeping the original estimate. –Pirates of caribbean 2 – Good reactions in trailer exhibitions. We expect to get more audience than the first film. –Local Productions – We were planning to release more 3 local productions this year but they were moved to FY07 (O Magnata, 1972 and Muito Gelo e Dois Dedos D’Água).

5 February 2, 2016 Forecast Review

6 February 2, 2016 Forecast review - YTD Actuals FY06 Budget Rate (000’s)

7 February 2, 2016 YTD Analysis FY06 Budget Rate (000’s)

8 February 2, 2016 Remaining titles analysis FY06 Budget Rate (000’s)

9 February 2, 2016 Forecast review - Full Year FY06 Budget Rate (000’s)

10 February 2, 2016 Full Year COC vs Budget FY06 Budget Rate (000’s)

11 February 2, 2016 Full Year COC vs Prior Forecast FY06 Budget Rate (000’s)

12 February 2, 2016 Forecast Sensitivity Analysis FY06 Budget Rate (000’s)

13 February 2, 2016 FY06 Budget Rate (000’s) Forecast Sensitivity Analysis

14 February 2, 2016 Quarterization - Net Contribution FY06 Budget Rate (000’s) Narnia Flight Plan Goal ! Derailed Didi A Máquina Cars (Costs) Pirates caribbean 2 (Costs) Basic Instinct Cars Pirates caribbean 2 Scary Movie 4

15 February 2, 2016 Key Titles Released

16 February 2, 2016 By title performance - Revenue FY06 Budget Rate (000’s) Winners Losers

17 February 2, 2016 By title performance - Net Contribution FY06 Budget Rate (000’s) Losers Basic Instinct 2 – Not well accepted in Brazil as the first film. Sharon Stone is not well know among younger audience. Narnia – Budget estimates for costs are lower than our historycal Chicken Little – We basically kept budget figures, only adjusting Other Costs and including Basics estimates (Higher) Shaggy Dog – The estimates in the Budget were too high. The title was not well acepted. The Wild – The comparison with Madagascar was inevitable. We have also as a competiror Ice Age 2. Winner

18 February 2, 2016 Basic Instinct 2 FY06 Budget Rate (000’s)

19 February 2, 2016 Shaggy Dog FY06 Budget Rate (000’s)

20 February 2, 2016 Scary Movie FY06 Budget Rate (000’s)

21 February 2, 2016 Cars FY06 Budget Rate (000’s)

22 February 2, 2016 Upcoming Titles

23 February 2, 2016 Pirates of the Caribbean 2 FY06 Budget Rate (000’s)

24 February 2, 2016 Competitive release schedule

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29 February 2, 2016 Account receivables As of June 30

30 February 2, 2016 Forecast P&L by title FY06 Budget Rate (000’s)

31 February 2, 2016 Budget P&L by title FY06 Budget Rate (000’s)

32 February 2, 2016 Variances Forecast X Budget by title FY06 Budget Rate (000’s)