WILDBRAIN REPORTS Q3 2023 RESULTS.

TORONTO: WildBrain Ltd. ("WildBrain" or the "Company") (TSX: WILD), a global leader in kids' and family entertainment, today reported its third-quarter ("Q3 2023") results for the period ended March 31, 2023.

The Company also announced today that Josh Scherba has been promoted to President and CEO.

Scherba said: "We executed well in the third quarter, with strong growth in Content Production and Distribution led by live action productions. Additionally, we were encouraged to see the sequential improvement in Consumer Products revenue to level set with last year's Q3, in a macro retail environment still facing some overstock headwinds.

"Also in Q3, our commitment to investing in creative excellence was reinforced by our agreement to acquire House of Cool, a leading animation pre-production company. The acquisition is highly complementary to our existing business, expanding and enhancing our capabilities for our own premium content and third-party projects. House of Cool and their team of highly talented artists will be a valuable strategic asset in a content environment that is increasingly focusing on quality over quantity, positioning WildBrain to be leaders in the premium production space.

"We've made significant progress since implementing our 360-degree strategy to emerge as a leading independent platform for the monetization of kids and family IP in the global market. As President and CEO, I'm excited to continue this work and lead this incredible company as we focus on key franchises and to further advance WildBrain's position as a leader in content creation, audience engagement and global licensing. I look forward to working with our talented people across the organization, our passionate management team and our board to drive profitability for the long-term success of the business and enhance value for shareholders."

Aaron Ames, WildBrain CFO, added: "We continue to execute on our plan, which delivered strong top-line growth in Q3 2023. Revenues for our Content Production and Distribution segment were particularly strong as we recognized revenue that had shifted from Q2. We remain on track to deliver another year of growth on both revenue and adjusted EBITDA and we reiterate our guidance for Fiscal 2023."

Q3 2023 Performance - Executing on Priorities

PRIORITIES

HIGHLIGHTS

Activate IP and Grow Key

Brands

Signed an agreement to acquire House of Cool, one of the top pre-production companies in the global animation industry. A strategic...