1. Turning Dreams IntoReality

2. AGENDA Situational Analysis Issues MULTISENSORY EXPERIENCE GEOGRAPHIC EXPANSION Implementation Financials Situation Analysis Geographic Expansion Multisensory Experience Introduction Financials Implementation

5. Operating mostly in North America

7. Creative challenge and control

8. Affluent & sophisticated individualsSituation Analysis Geographic Expansion Multisensory Experience Introduction Financials Implementation

11. Need for new shows Situation Analysis Geographic Expansion Multisensory Experience Introduction Financials Implementation

14. Constantly innovate Situation Analysis Geographic Expansion Multisensory Experience Introduction Financials Implementation

16. Constant idea generation from cells need to materialize into shows

18. Constantly innovate Situation Analysis Geographic Expansion Multisensory Experience Introduction Financials Implementation

20. New partner and market opportunities

21. Constant idea generation from cells need to materialize into shows

23. Constantly innovate Situation Analysis Geographic Expansion Multisensory Experience Introduction Financials Implementation

25. New partner and market opportunities

26. Constant idea generation from cells need to materialize into shows

28. Constantly innovate

29. Growing number of similar showsSituation Analysis Geographic Expansion Multisensory Experience Introduction Financials Implementation

31. New partner and market opportunities

32. Constant idea generation from cells need to materialize into shows

34. Constantly innovate

35. Growing number of similar shows

36. Need to be at the forefront of innovationSituation Analysis Geographic Expansion Multisensory Experience Introduction Financials Implementation

38. New partner and market opportunities

39. Constant idea generation from cells need to materialize into shows

41. Constantly innovate

42. Growing number of similar shows

43. Need to be at the forefront of innovationSituation Analysis Geographic Expansion Multisensory Experience Introduction Financials Implementation

44. Enter new markets and deliver creative content Where we want to be Where we are Where we want to be Strong permanent foothold in North America Establish permanent foothold globally Strong relationship with MGM Build equally strong relationship with other partners Issues and concerns Leader in providing the most creative and forefront entertainment Provide high quality and creative entertainment Situation Analysis Geographic Expansion Multisensory Experience Introduction Financials Implementation

46. Creative control

47. Cannibalization

49. Trust

50. Sustainability

52. Financial and technical capabilities How to deliver new forms of creativity Situation Analysis Geographic Expansion Multisensory Experience Introduction Financials Implementation

54. Creative challenge and control Situation Analysis Geographic Expansion Multisensory Experience Introduction Financials Implementation

55. Global Expansion Considerations Considerations Which type of show Which country to enter Who to partner with Situation Analysis Geographic Expansion Multisensory Experience Introduction Financials Implementation

56. Global Expansion RESIDENT BIG TOP ARENA CRITERION Allows greater technical development & creativity 30% Fit with brand image 15% Maintain creative control 30% Profits 15% Resident and Arena shows provide the most viable vehicles of expansion & expression of creativity Situation Analysis Geographic Expansion Multisensory Experience Introduction Financials Implementation

57. Country Selection NEW YORK RESIDENT CRITERION LONDON BERLIN SYDNEY SINGAPORE Tourist Arrivals 50% Reception towards Performing Arts 25% Ease of Competition 25% London & Singapore are the most viable cities to expand into Situation Analysis Geographic Expansion Multisensory Experience Introduction Financials Implementation

60. Large pool of target audienceSituation Analysis Geographic Expansion Multisensory Experience Introduction Financials Implementation

62. Find a partner with the most fit

64. They have the expertise and fit to direct CdS’s expansion in LondonSituation Analysis Geographic Expansion Multisensory Experience Introduction Financials Implementation

65. Global Expansion NEW YORK RESIDENT CRITERION LONDON BERLIN SYDNEY SINGAPORE Tourist Arrivals 50% Reception towards Performing Arts 25% Ease of Competition 25% London & Singapore are the most viable cities to expand into Situation Analysis Geographic Expansion Multisensory Experience Introduction Financials Implementation

68. Non-Saturated MarketSituation Analysis Geographic Expansion Multisensory Experience Introduction Financials Implementation

71. Both parties benefit as the IR will enjoy increased visitations while CdS will enjoy increased box office takingsSituation Analysis Geographic Expansion Multisensory Experience Introduction Financials Implementation

72. Global Expansion RESIDENT BIG TOP ARENA CRITERION Allows greater technical development & creativity 30% Fit with brand image 15% Maintain creative control 30% Profits 15% Resident and Arena shows provide the most viable vehicles of expansion & expression of creativity Situation Analysis Geographic Expansion Multisensory Experience Introduction Financials Implementation

75. Show runs last for up to a weekSituation Analysis Geographic Expansion Multisensory Experience Introduction Financials Implementation

77. Enhanced lighting and décor

78. Bigger choreography

79. Overall an enhanced entertainment experienceSituation Analysis Geographic Expansion Multisensory Experience Introduction Financials Implementation

80. Global Expansion Considerations Geographic Expansion Which market to enter London & Singapore Which type of show Resident Shows Arena Shows Who to partner with Society of London Theater Marina Bay Sands Situation Analysis Geographic Expansion Multisensory Experience Introduction Financials Implementation

81. Multisensory Experience MULTISENSORY EXPERIENCE GEOGRAPHIC EXPANSION Situation Analysis Geographic Expansion Multisensory Experience Introduction Financials Implementation

82. Multisensory Experience Sight Sound Motion MULTISENSORY EXPERIENCE Smell Feel Situation Analysis Geographic Expansion Multisensory Experience Introduction Financials Implementation

84. Vision tracking camera

85. 3D Modeling

86. Interactive interfaceCreate an Augmented Reality Situation Analysis Geographic Expansion Multisensory Experience Introduction Financials Implementation

88. Vision tracking camera

89. 3D Modeling

90. Interactive interfaceCreate an Augmented Reality Situation Analysis Geographic Expansion Multisensory Experience Introduction Financials Implementation

92. Limitations Limitation Addressing Limitations Technological Complexity Plan longer lead time to coincide with London Theater construction High Capital Investment Large revenue from increased Arena shows Perceived threat of obsolesce by performers Include them in the development process & assure them of their required presence in live shows Situation Analysis Geographic Expansion Multisensory Experience Introduction Financials Implementation

93. 38.6% higher Revenue from Recommendations higher Revenue 5 Yr CAGR +15% 5 Yr CAGR +8% Assumptions W/O recommendation based on increased focus on Big Top while recommendations includes focus on Arenas and Multi Sensory Situation Analysis Geographic Expansion Multisensory Experience Introduction Financials Implementation

94. 80% higher EBITDA from Recommendations higher Revenue 5 Yr CAGR +20% 5 Yr CAGR +6% Assumptions W/O recommendation based on increased focus on Big Top while recommendations includes focus on Arenas and Multi Sensory Situation Analysis Geographic Expansion Multisensory Experience Introduction Financials Implementation

95. Multi Sensory Approach +ve NPV Situation Analysis Geographic Expansion Multisensory Experience Introduction Financials Implementation

96. Multi Sensory Approach +ve NPV +NPV 368m Remains positive even when conservative sensitivity scenarios are factored in Situation Analysis Geographic Expansion Multisensory Experience Introduction Financials Implementation

97. Revenue Breakdown Revenue Situation Analysis Geographic Expansion Multisensory Experience Introduction Financials Implementation

98. Revenue Breakdown Revenue Multi Sensory and Arenas will take up a significant portion of Revenue in 2014E Situation Analysis Geographic Expansion Multisensory Experience Introduction Financials Implementation

99. Implementation 2009 2010 2011 2012 2013 2014 Expansion Arena Shift Touring focus towards Arenas BT Big Top will be maintained but slowly phase towards Arenas Singapore Leverage existing partnership with Sands Enter with Multi Sensory London Establish relationship with SOLT Enter the London market Begin R&D partnership Constantly innovate to achieve breakthrough technologies Multi Sensory Create new creative experiences for Singapore and London Situation Analysis Geographic Expansion Multisensory Experience Introduction Financials Implementation

101. Creative challenge and control Situation Analysis Geographic Expansion Multisensory Experience Introduction Financials Implementation

102. THANK YOU

103. Financial Assumptions:Touring Situation Analysis Geographic Expansion Multisensory Experience Introduction Financials Implementation

104. Why do we not implement the new technology in saturated/more mature markets? Prevent cannibalisation in existing markets Existing infrastructure is not made for it – requires overhaul that requires stopping original shows

105. Why multi sensory entertainment makes sense? Aligned with your creative direction: Onedrop foundation We live in an experience economy – this is what your consumers will want New media is a current trend

106. In the event that the partnership does not work out Other available partners (Eg: institution in Nottingham institution) Governmental organisations are interested in such technology – gov support (eg: Singapore) Emergence of research labs conducting the relevant research

107. In the event that the partnership does not work out Other available partners (Eg: institution in Nottingham institution) Governmental organisations are interested in such technology – gov support (eg: Singapore) Emergence of research labs conducting the relevant research

108. How is it possible in London now? Other available partners (Eg: institution in Nottingham institution) Governmental organisations are interested in such technology – gov support (eg: Singapore) Emergence of research labs conducting the relevant research

109. Completely phase out big top eventually Big top restricts creativity Beyond the normadic roots (known for creativity)

110. 35 other big scale shows on the Vegas Strip  very competitive We have 7 resident shows on in Vegas  cannibalisation Ex CdS employee Franco Dragone has a similar show just next door (Le Reve- aquatic show) Explore new markets that are less competitive