DXB Entertainments PJSCInvestor PresentationAugust | 2017

DisclaimerPRESENTATION AND ITS CONTENTS ARE NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN OR INTO ANY JURISDICTION WHERE SUCH DISTRIBUTION IS UNLAWFUL.

This presentation has been prepared and issued by DXB Entertainments PJSC (the “Company”). For the purposes of this notice, “presentation” means this document, its contents or any part of it, any oral presentation, any question or answer session and any written or oral material discussed or distributed during the presentation meeting.

The information set out in this presentation may be subject to updating, revision, verification and amendment and such information may change materially. Neither the Company, any of its parent or subsidiary undertakings, the subsidiary undertakings of such parent undertakings, nor any of such person’s respective directors, officers, employees, agents, affiliates or advisers is under an obligation to update or keep current the information contained in this presentation to which it relates or to provide the recipient of with access to any additional information that may arise in connection with it and any opinions expressed in this presentation are subject to change without notice. None of the Company or any of its parent or subsidiary undertakings, or the subsidiary undertakings of such parent undertakings, and any of such person’s respective directors, officers, employees, agents, affiliates or advisers shall have any liability whatsoever (in negligence or otherwise) for any loss whatsoever arising from any use of this presentation, or otherwise arising in connection with this presentation.

This presentation is an advertisement for the purposes of the United Kingdom Prospectus Rules and the information contained herein are not an offer of securities for sale in the United States nor any other jurisdiction. This presentation does not constitute or form part of, and should not be construed as, any offer, invitation, solicitation or recommendation to purchase, sell or subscribe for any securities in any jurisdiction nor should it or any part of it form the basis of, or be relied on in connection with, any contract or commitment whatsoever.

This presentation is for information purposes and convenient reference. It is not definitive advice, nor should it be relied upon as such. This presentation does not purport to contain all of the information that may be required to evaluate any potential transaction and should not be relied on in connection with any such potential transaction. Any projection, estimate, forecast or other ‘forward-looking’ statement in this presentation only illustrates hypothetical performance under specified assumptions of events or conditions, and is not a reliable indicator of future performance.

To the extent available, the industry and market data contained in this presentation may have come from official or third party sources. Such third party industry publications, studies and surveys generally state that the data contained therein have been obtained from sources believed to be reliable, but that there is no guarantee of the accuracy or completeness of such data. While the Company believes that each of these publications, studies and surveys has been prepared by a reputable source, the Company has not independently verified the data contained therein. In addition, certain of the industry and market data contained in this presentation come from the Company's own internal research and estimates based on the knowledge and experience of the Company's management in the market in which the Company operates. While the Company generally believes that such research and estimates are reasonable and reliable, they, and their underlying methodology and assumptions, have not been verified by any independent source for accuracy or completeness and are subject to change without notice. Accordingly, undue reliance should not be placed on any of the industry or market data contained in this presentation. You agree to be bound by the foregoing limitations and conditions and, in particular, will be deemed to have represented, warranted and undertaken that you have read and agree to comply with the contents of this notice.

LEGO ®, the LEGO logo and LEGOLAND ® are trademarks of the LEGO Group. ©2017 The LEGO Group. LEGOLAND IS A PART OF MERLIN ENTERTAINMENTS plc.

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Company Overview

About DXB Entertainments PJSC

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DXB Entertainments PJSC is a Dubai headquartered Leisure and Entertainment Companylisted on the Dubai Financial Market under the trading symbol DXBE.

DXBE is the owner of Dubai Parks and Resorts, the regions largest integrated theme parkdestination, with Five Theme Parks*, Two Hotels*, and One retail and dining facility allspread over 30.6 million sq.ft of land, with an estimated AED 13.2 billion in developmentcosts.

DXBE also manages 6 Dubai-based mid-way attractions in addition to a chain of cinemas,all owned by Meraas.

8.0bAED 8 billion equity

DXB Entertainments has raised AED 6.3 billion in equity through an IPO in 2014, and an additional AED 1.7 billion through a rights issue in 2016.

5.2bAED 5.2 billion financingDXB Entertainments has raised AED 4.2 billion through a financing facility for Phase I for DPR, and an additional AED 1 billion for Phase II.

6.2bAED 6.2 billion market capDXB Entertainments PJSC is listed on the Dubai Financial Market and has a market cap of AED 6.2 billion as at 31 July 2017.

* Phase II expansion, Six Flags Dubai opening in 2019 and LEGOLAND Hotel after 2018. LEGO, the LEGO ® logo and LEGOLAND ® are trademarks of the LEGO Group. ©2015 The LEGO Group. LEGOLAND IS A PART OF MERLIN ENTERTAINMENTS plc.

DXB Entertainments Since Inception

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2 0 1 2 2 0 1 4

Dubai Parks and Resorts project announced

Dubai Financial Market listing

The official inauguration of Dubai Parks and Resorts in December 2016 concluded a five-year journey and marked the end of construction of Phase I

2 0 1 5 2 0 1 6 THE FUTURE

LEGOLAND® Hotel Dubai to openadjacent toLEGOLAND® Dubai.

Planned to open in late 2019, Six Flags Dubai will be the fifth theme park at the Dubai Parks and Resorts destination, and will includeover 20 ridesand attractions for all ages across six themed zones.

Agreed major partnerships with globally recognised brands, including Lionsgate

Launched ‘Helmi’ scholarship programme,offering Emiratistraining in Orlando, USA

Broke ground on Six Flags Dubai

DPR’s first ride –The DragonCoaster installed at LEGOLAND®

Dubai

Company moves into operational phase asLEGOLAND® Dubai and Riverland™ Dubai opened 31 October

DXBEntertainments name change completed

Officialinauguration of DPR on 18thDecember

Rights issue forSix Flags Dubai

successfully completed

AED 2.6bSuccessful

completion of AED 2.6 billion

IPO

2 0 1 7

Ground work commenced on site

Lapita Hotel and LEGOLAND Water Park open to the public on 2 January

DreamWorks zone in MOTIONGATE unveiled to the public

CUMULATIVEProject Spend AED 2.6B AED 5.8B AED 10.5B PLANNED

Project Spend AED 2.7B

AED 4.2b

AED1.7b

Secured AED 4.2 billion syndicated

finance facility

Secured AED 993 million in

financing facility for Six Flags

AED 0.9bAgreement

with Meraas to manage

select L&E assets

The largest leisure and entertainment company in the region

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Theme ParksFamily

EntertainmentCenters

Retail and Hospitality

Coming Soon

* Phase II expansion, Six Flags Dubai opening in 2019 and LEGOLAND Hotel after 2018. LEGO, the LEGO ® logo and LEGOLAND ® are trademarks ofthe LEGO Group. ©2015 The LEGO Group. LEGOLAND IS A PART OF MERLIN ENTERTAINMENTS plc.

Shareholding structure

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A Dubai-based holding companyestablished in 2007, with operations andassets in the UAE and overseas

Has access to a huge land bank in primelocations throughout Dubai

Has launched several projects in thetourism, retail, hospitality, leisure andentertainment sectors

Is focused on introducing new and uniqueproducts to the market

Is committed to the success of DXBEntertainments

Sources: Meraas, Company information, Other public sources. Shareholder structure as at 31 July 2017.Due to rounding, numbers presented may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures

Meraas 52%Qatar Holding 11%Kuwait Investment Authority 5%Institutional 22%Retail 10%

Shareholder compositionAs at 31 July 2017

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Business Units

Dubai International Airport

Dubai World Central –Al Maktoum International Airport

63km

20km16

km

Theme Parks

DXB Entertainments owns five theme parks at Dubai Parks and Resorts

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27 rides and attractionsLargest Hollywood movie inspired themed park in the region, targeting all age groups and nationalities. IP partners include DreamWorks, Colombia Pictures, The Smurfs and Lionsgate.

Operated: Parques Reunidos Servicios Centrales

16 rides and attractionsThe world’s first Bollywood movie themed park, focused on action, dance, romance and flavoursbased on some of the biggest Bollywood blockbusters.

Operated: Parques Reunidos Servicios Centrales

40 rides and attractionsWhere LEGO® bricks come to life, the ultimate theme park for families with children aged 2-12, with over 15,000 LEGO® models made from 60 million LEGO® bricks.

Operated: Merlin Entertainments plc

20 slides and attractionsThe region’s only water park designed for families with children aged 2-12, with over 20 LEGO themed water slides and attractions.

Operated: Merlin Entertainments plc

20 rides and attractionsThe regions first Six Flags themed park which will offer high thrill entertainment for all ages groups when it opens in 2019.

Operated: Six Flags management agreement

Location: To be confirmed

Family Entertainment Centers

DXB Entertainments’ Family Entertainment Centers unit manages select Meraas owned leisure and entertainment offerings across the city of Dubai.

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Dubai International Airport

Location: City Walk

Indoor video gaming zone which includes virtual reality shooting, virtual reality racing, time-warped arcade and network games

Location: City Walk

Bio-dome housing a giant indoor ecosystem and 3,000 plants and animals

Location: The Beach

Outdoor water recreational venue offering various activities for toddlers and kids

Location: City Walk / The Beach

Indoor interactive games and play area for kids between the age of 2 to 10 years old

Gaming experience beyond virtual reality combining physical set with real-time interactive effects

Dubai International Airport

Dubai World Central –Al Maktoum International Airport

Retail and Hospitality

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Dubai International Airport

Dubai World Central –Al Maktoum International Airport

63km

20km16

km

HOSPITALITY

Over 750 rooms across two hotelsLapita™ Hotel operated by the Marriott Group with over 500 rooms. The LEGOLAND® Hotel is a 60:40 JV with Merlin Entertainments, currently under development

Location: Dubai Parks and Resorts

CINEMAS

3 CinemasOwned by Meraas, ROXY cinemas is a chain of cinemas with over 25 screens across three locations in Dubai

Location: City Walk / The Beach / Box Park

RETAIL & DINING

234,000 sq feet of GLAWith over 50 units leased out to third party tenants, Riverland™ Dubai is a themed retail and dining destination.

Location: Dubai Parks and Resorts

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Outlook and Strategy

Strategy

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01 Restructure DXB Entertainments• Restructure and decentralise responsibility towards the operational functions• Integrate the management of key Meraas leisure and entertainment offerings

02 Drive footfall and visitation by targeting the resident and GCC market• Redefine core resident market to include GCC and MENA• Simplify resident market pricing and create competitive annual pass offer

03 Activate B2B and core international markets• Simplify tourist/trade pricing structure• Activation of key source markets

04 Formulate a consistent brand message, identify core target market for each park and ensuremessaging is appropriately tailored for each experience• Promote destination in source markets through tour operators and trade partners• Promote individual brands and IPs in core / proximity markets• Focus on “showing experiences” as opposed to “telling”, immersive experiential marketing will be key

Become the regions leading operator of leisure and entertainment with a portfolio of over 15 offerings across Dubai

01 - Restructure DXB Entertainments

Align organization structure with strategic corporate goalsAlignment of management and

organizational structure with P&L

responsibility

Drive efficiencies and leveragesynergiesSimilar assets to be clustered together

to create operating, revenue and cost

efficiencies

Utilise best-in-class management capabilitiesLeverage management and

operational capabilities of operators and

operational teams in new decentralized

structure

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Owner of DPRLeverage the ownership of DPR, utilizing its IP rights, and create cross promotional sales, marketing packages and synergies

Manage Meraas L&E assetsUndertake the management of key Meraas L&E assets with the possibility of adding future flagship pipeline assets

Structure DXBE for success

Position DXBE as the leading regional operator of leisure and entertainment assets

02- Drive footfall from resident market

01Drive footfall and visitation by targeting the resident market

Resident market will be the key driver of admissions and visitation in Q42017 and FY2018 generating ~65% of all visits

02Develop and implement strategy for targeting the GCC and the wider MENA region, define GCC as a core residential marketFocus on driving repeat visitation from the Saudi market as well as activating the Saudi tour and travel market

03Simplify and maintain consistent pricing to create clear consumer messaging and avoid confusion

DXBE will introduce a simplified pricing mechanism focused on driving the residential market, encouraging multiple visitations and driving footfall. Discounting to be kept to a minimum, only limited tactical promotions to be conducted

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* MOTIONGATE Dubai preview price is AED 250, valid until early Q2 2017. Due to rounding, numbers presented may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures. Sources: Company information, company websites, Dubai Parks and Resorts 2014 Feasibility Study , CBRE, TEA / AECOM reports

02- Ticket prices to be revised

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Theme park ticket pricing to be simplified and focused on driving repeat visitation from the resident market

IMG World of Adventure 66 245Ferrari World 75 275Wild Wadi 75 275Yas Waterworld 68 250Aquaventure 70 260Ski Dubai 91 335At the Top – Burj Khalifa 55 - 136 200 - 500

Magic Kingdom 115 422Disneyland Tokyo 65 238Disneyland Anaheim 110 404Epcot 107 392Disneyland Paris 80 291

Universal Studios Singapore 76 199

LEGOLAND Malaysia 34 128

Park / attraction Adult ticket price ($) Adult ticket price (AED)

MOTIONGATETM Dubai 80 295*Bollywood ParksTM Dubai 65 240LEGOLAND® Dubai 80 295LEGOLAND® Water Park 65 240

Regional

Current pricing structure (under revision)

International

Total visitors Jan-May 2017

7.26mUp 10.16% YOY

Jan-May 2017 2016 % changeIndia 944 776 23%Saudi Arabia 670 721 -7%UK 574 550 4%China 366 232 58%Oman 364 528 -31%Pakistan 278 247 12%USA 277 261 6%Iran 257 198 30%Germany 248 241 3%Russia 221 110 101%Total 4,199 3,864 10.16%

03-Tourism growth trends

17Source: Department of Tourism and Commerce Marketing (DTCM)

7% – Russia, CIS, EE (Eastern Europe)

21% – Western Europe11% – North Asia and

South-East Asia

18% – South Asia19% – GCC

12% – MENA

4% –Africa

2% –Australasia

6% –Americas

Source of visitors by region (% in Jan-May 2017)

Visitors from top 10 source marketsJan-May 2017 (’000 visitors)

03- Activate core markets through B2B channels

In H12017 only 15% of visits were driven through tour and travel operators. Currently almost 70% of visitation is from the resident population.

Trade in process of activation in key source markets with the full impact expected towards the second half of 2018.

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RussiaRep Office9 Tour operators

Germany/SwissRep Office8 Tour operators

IndiaRep Office9 Tour operators

ChinaRep Office9 Tour operators2 OTAs

United KingdomRep Office2 ticket brokers10 tour operators

Source market representation

UAE82 DMCsAfrica

8 tour operators

04 - Create consistent brand message

Promote individual destinations to specific core target markets tailoring the messaging accordingly

Focus on brand building to increase consumer awareness and recognition

Focus on “showing experiences” as opposed to “telling”, immersive using experiential marketing

Social media, radio, outdoor, point-of-sale, cinema and in-store will be the key media, supplemented by television where affordable and where reach can be justified

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Formulate a consistent brand message, identify core target market for each park and ensure messaging is appropriately tailored for each experience

2017 expectations

Alignment of organizational and management structure to leverage core strengths and realisesynergies

Goal to identify further savings through organizational synergies

Management of Meraas leisure assets will create shareholder value and increase sales touch points

New family entertainment center division will realise cross-promotion, sales and marketing synergies across all key vertical assets

Sales and Marketing focused on Q4 2017 with key drivers from resident and GCC visitors

Formulate a consistent brand message, identify core target market for each park and ensure messaging is appropriately tailored for each experience

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Q2 2017 Performance

Total RevenueAED 119.6 million

Key Q2 2017 performance highlights

22Due to rounding, numbers presented may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures. 30 June 2017 figures are unaudited.

Theme Park RevenueAED 86.5 million

Visits414,454

Revenue per cap AED 209(theme parks)

Total assetsAED 12.5 billion

Drawn downAED 4.2 billionof AED 4.2b Phase 1 facility

1 April 2017 – 30 June 2017

YTD total revenue

AED 279m

YTD total visits

1,000,817

Q2 Revenue per capita

AED 209Theme parks

Q2 GLA leased

84%Q2 Average occupancy

27%

Revenue breakdown (1 April – 30 June 2017)

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Totalrevenue

AED 119.6m

Theme parkRetail HospitalityOthers

72%7%

10%

11%

Theme parkrevenue

AED 86.5m

AdmissionsIn-park spend Others

63%

32%5%

Retail revenue

AED 8m

LeasingNon-leasing

51%

49%

Q2 Visits

414,454Q2 Average daily rate

AED 590

Due to rounding, numbers presented may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures. 3O June 2017 figures are unaudited. The Group currently determines and presents financial information as a single operating segment based on the information that is provided internally to corporate management for decision making.

Hospitality revenue

AED 11.4m

AccommodationOthers

64%

36%

YTD average hotel occupancy

24%

Visits breakdown

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Key visitation factors:

Holy month of Ramadan: 26 May – 24 JuneAED 95 all parks between 8pm-12am during Ramadan.

Summer pricing offer:AED 195 per park inclusive of all you can eat offerAED 265 two parks inclusive of all you can eat offer

Total Visits

414,454Visits breakdown (bycategory)

Walk-in 38%Online & call center 31%Tour operator 14%Others 17%

April-June 2017

Note: Others include Schools, Corporates, Annual passes, VIPs and Complimentary passes

Revenue

AED279m

Summary financial results

25Due to rounding, numbers presented may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures. 30 June 2017 figures are unaudited.

Q1 2017 Q2 2017 YTD 2017AED millions

Revenue 160 120 279Cost of sales (13) (20) (34)Gross profit 147 99 246

General, administrative and operating expenses (334) (284) (618)Marketing and selling expenses (41) (38) (78)Interest (expense) / income (43) (52) (95)Other expenses (21) (11) (32)Loss for the period (292) (286) (578)Other comprehensive lossCash flow hedge – gain / (loss) on fair value 4 (22) (18)Total comprehensive loss for the period (287) (308) (596)

Operating EBITDA

AED(247)m

Operating EBITDA (adjusted)

AED(186)mExcluding AED 61 million in pre-operating expenses

General, administrative and operating expenses

Salaries and other employee benefits 32%

Depreciation 38%Utility 9%Supplies, communication and IT 6%Repairs and maintenance 4%Rent 4%Others 7%

For the six month period ended 30 June 2017

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Contact UsInvestor Relations Contacts

Marwa GoudaHead of Investor Relations

Abdulrahman Al-SuwaidiInvestor Relations Officer

IR@dxbentertainments.com

www.dxbentertainments.com/investor-relations

DXB Entertainments PJSC

Sheikh Zayed Road, opposite the Palm Jebel Ali, Exit 5, Saih Shuaib

Tel: +971 4 8200 820Fax: +971 4 8200 819

contact@dxbentertainments.com

www.dxbentertainments.com

DXB Entertainments IR App

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Our new Investor Relations App is available for download on the iTunes App store and the Google Play store!

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Appendix IManagement and Board

Senior management

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Mohamed AlmullaChief Executive Officer

• Appointed CEO of DXB Entertainments in June 2017. • Brings extensive experience from a wide range of media and entertainment business segments, including radio

& TV broadcasting, printing & publishing, digital media, out of home advertising, event management, parks & attractions.

• Previously CEO at the Arab Media Group where he oversaw all operational aspects of the group’s three major business units: Arabian Radio Network, Done Events and Global Village.

• Held several leadership positions within the TECOM Group, including Executive Director of Dubai Media City.

John IrelandChief Financial Officer

• Appointed CFO of DXB Entertainments in June 2017. • Experience across a wide range of media, including broadcast, digital, out-of-home, print, event management

and recorded music.• Previously CFO at the Arab Media Group (AMG). In his role, he oversees the financial, strategic and legal

aspects of the group’s operations, including the Arabian Radio Network, Global Village and Done Events.• John joined AMG from 21st Century Fox, where he held a number of senior finance positions across the

Group’s operations in Europe, Asia and the Middle East, including regional experience as CFO of Rotana Media Group.

• He has a BA in business and management from the University of Exeter, UK and is a qualified chartered accountant, having previously worked for Deloitte in the telecommunications, media and technology sector.

Ahmad HussainGM of Theme Parks

• Joined DXB Entertainments in August 2017. • A seasoned professional within the regional theme park industry with extensive experience in operations,

facilities management and engineering.• Previously held positions at Global Village, the regions premier cultural and family entertainment destination,

as COO and CEO, where he was responsible for the successful operations and expansion of the business.• Ahmad is a board member at the International Association of Amusement Parks and Attractions (IAAPA).• Previously held positions at Emirates Integrated Telecommunications Company (du), the Facilities

Management Department of the Engineer’s Office of HH Mohammed Bin Rashid Al Maktoum, ADNOC and as a marine engineer with BP, North Sea.

• Ahmad graduated with a BA in Mechanical Engineering from Northumbria University, UK and earned his MSc in Engineering Management from Sunderland University, UK.

Ahmed AlRayyesGM of Retail and Hospitality

• Ahmed AlRayyes joined DXB Entertainments in July 2017. • He is a seasoned professional with a long track-record of successfully implementing Commercial Partnerships,

Contacts Management, Supply Chain and Strategic Planning in the entertainment, telecom, broadcasting and media sectors.

• Prior to joining DXB Entertainments, AlRayyes was COO at Global Village, the regions premier cultural and family entertainment destination, where he played an essential role in growing the business.

• Previously, AlRayyes headed the Commercial Sourcing & Procurement department at du - Emirates Integrated Telecommunications Company.

• Earlier Ahmed worked in the engineering and broadcasting division for Dubai Media Incorporated, the official media organization of the Government of Dubai.

• Ahmed AlRayyes holds a BA in Electrical & Computer Engineering.

Hani SoubraVP of Marketing

• Joined DXB Entertainments in August 2017. • Has over 24 years of communication and media experience with expertise in brand positioning, consumer

marketing and digital and creative media.• Previously spent 13 years at BCC World most recently as the Regional Director MENA & Pakistan. His role

included positioning the different BBC functions, product and content creation, developing corporate partnerships as well as creative and digital media.

• A published author and a University Lecturer on media at the Middlesex University, Dubai Campus.• Hani earned his MBA from the University of Strahtclyde and his BA in Economics from the American University

of Beirut.

Marwa Gouda, CAIA, CIROHead of Investor Relations

• Over 15 years experience in investor relations and financial marketing. She previously held the position of Head of Investor Relations at I2BF Global Ventures, a boutique investment management firm.

• In 2003 she joined Man Group in Switzerland and during her six year tenure held different positions in investment marketing and client services in London, Zurich and Dubai. Her last position was as Marketing and Client Service Manager at Man Environmental Capital Opportunities, Man’s private equity environmental finance arm.

• She is a Certified Alternative Investment Analyst and holds a BA in Political Science and a BA in Economics from the American University in Cairo

Senior management

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Name Nationality Independent Audit Committee

Nomination and Remuneration

CommitteeAbdulla Al Habbai UAERaed Kajoor Al Nuaimi UAEAbdul Wahab Al-Halabi UAE

Edris Alrafi UAECristian Viorel Gheorghe RomanianFahad Kazim UAE

Dennis C. Gilbert USA (Chairman)Steven D. Shaiken USA (Chairman)

Board of Directors and board committees

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UAE National

Other Nationalities

Non-Executive

Executive

Independent

Board of Directors by nationality

Board of Directors by type

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- 5- 1- 3

Abdulla Al HabbaiChairman, Non-executive Director

• Group Chairman of Meraas Holding and Chairman of Dubai Holdings.• Mr. Al Habbai is also Chief Executive Officer of the Engineering Office since 2005 and the Chairman of Dubai Hills, Dubai Valiant

Healthcare and Deputy Chairman of Rove Hospitality.• Serves on the Boards of Dubai Real Estate Corporation and Museum of the Future amongst others.• Holds a Master’s Degree in Cadastral & Land Information Management from the University of East London

Abdul Wahab Al-HalabiNon-executive Director

• Abdul Wahab Al-Halabi is the Group Chief Investment Officer of Equitativa, a diversified financial services group specialising in thedevelopment of REITs in emerging markets.

• He was previously the Group Chief Investment Officer of Meraas Holding group. Mr. Al-Halabi has more than 18 years’ experience in thereal estate sector, with expertise in financial restructuring, crisis and debt management, credit enhancements and joint ventures.

• Previously held positions include partner at KPMG, Chief Executive Officer of Dubai Properties Group• Holds a bachelor’s degree in Economics from the London School of Economics and an Executive MBA from Ecole Nationale des Ponts et

Chaussées

Raed Kajoor Al NuaimiNon-executive Director

• Raed Kajoor Al Nuaimi is the former Chief Executive Officer of DXB Entertainments PJSC• Previously, he was the Chief Leisure and Entertainment Officer at Meraas Holding• Has held senior management roles over a 15-year period with companies such as Tatweer, Dubailand and Dubai Properties Group• Holds a bachelor’s degree in Business Administration from Ashford University, UK, and is a member of the Chartered Institute of

Personnel and Development

Edris AlrafiNon-executive Director

• Mr Alrafi is the CEO of Dubai Holdings and CCO at Meraas Holding. He brings more than 13 years of experience in investment banking,finance and private equity.

• Prior to Meraas, he served as Head of Middle East Business at the private equity firm Developing Markets Capital (DMC) Partners• Mr Alrafi also served as Head of UAE client coverage at Goldman Sachs for the UAE. Prior to Goldman Sachs, he served as General

Manager at First Gulf Bank in the Securities Division and worked closely with the CEO and Managing Director of the Bank.• He is currently Vice Chairman at Noor Bank and Nshma Properties and the Chief Executive Officer at Dubai Holding. He holds a finance

degree from the Higher College of Technology in the UAE.

Cristian Viorel Gheorghe Non-executive Director

• Mr Gheorghe is the former Chief Financial and Investment Officer at Meraas LLC. Bringing with him over 18 years of banking experienceworking globally across several industries.

• Prior to joining Meraas, Cristian served as Investment Strategist at Citi Private Bank in Geneva where he led the buy side advisory to ahigh profile, multibillion-dollar franchise relationship of the bank in Saudi Arabia. He is a board member at Yvolve LLC, MD Health andWellness LLC and Marsa Al Seef LLC and others.

• Along with a CFA designation, Cristian holds an MBA degree from Rotman School of Management, University of Toronto and aBachelor’s degree in Economics from the Academy of Economic Studies in Bucharest.

Fahad KazimIndependent Non-executive Director

• He is an Independent Advisor to the to the Group Chairman at Meraas• Previously the Chief Commercial Officer at Meraas Holding where he was responsible for the business development and asset

management functions including its retail interests together with its recently launched Food & Beverage division• Has previously worked at PwC in the audit and transaction services divisions• Serves on several boards, the Oversight Board at Emirates REIT and Arthrogen BV.• Holds a bachelor’s degree in Accounting from Concordia University, Canada, and is a qualified Certified Public Accountant

Denis C. GilbertIndependent Non-executive Director

• More than 45 years of experience in the theme park and attraction business• Has held various senior management positions at Sea World of Ohio, Resorts World Sentosa (Singapore), Stone Mountain Park (Atlanta),

Ocean Embassy and three Anheuser Busch Adventure Parks• Chairman of the Board and majority stockholder for Gilberts of Atlanta, a restaurant company operating as a ‘‘Wendy’s’’ franchisee

Steven D. ShaikenIndependent Non-executive Director

• Provides consulting services to major companies in the travel and leisure industry including Disney, Universal, Aramark etc.• More than 40 years of experience in the destination branded entertainment arena• Previously, Executive Managing Director at Adventure World (Warsaw)• Has previously worked with industry majors such as the Royal Caribbean International, Seaworld Parks & Entertainment, Disney Cruise

Lines, Starwood and Hilton hotel chains, among others

Board of directors continued

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Appendix IISummary Financials for the period ended 30 June 2017

Summary financials

34Due to rounding, numbers presented may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures. 30 June 2017 figures are unaudited.

30 Jun 17 31 Dec 16

Unaudited(AED m)

Audited(AED m)

ASSETS

Property and equipment 9,451 9,465

Investment properties 623 634

Investment in a Joint Venture 18 -

Inventories 50 42

Due from a related parties 25 21

Trade and other receivable 155 90

Derivative financial instruments 19 37

Other financial assets 618 990

Cash and bank balances 1,502 1,535

Total assets 12,461 12,814

EQUITY AND LIABILITIES

EQUITY

Share capital 8,000 8,000

Cash flow hedge reserve 19 37

Accumulated losses (1,217) (639)

Total equity 6,802 7,398

LIABILITIES

Bank facilities 4,003 3,204

Trade and other payables 1,656 2,212

Total liabilities 5,659 5,416

Total equity and liabilities 12,461 12,814

As at 30 June 2017

Six months period ended 30 June

AED million 2017 2016

Unaudited Unaudited

Revenue 279 -

Cost of Sales (34) -

Gross profit 245 -

General,administration and operating expenses (618) (89)

Marketing and selling expenses (78) (22)

Interest (expense) / income (95) 31

Other expenses (32) -

Loss for the period (578) (80)

Cash flow hedge – loss on fair value (18) (55)

Total comprehensive loss for the period (596) (135)

Condensed consolidated statement of profit or loss and other comprehensive incomeFor the six month period ended 30 June 2017

Condensed consolidated statement of financial position

AED million Period ended 30 June2017 2016

Unaudited Unaudited Cash flows from operating activitiesLoss for the period (578) (80)Adjustments for:Depreciation of property and equipment and investment properties 236 4 Interest (income) / expense 82 (36)Amortization of borrowing cost 13 5 Provision for employees’ end of service indemnity 2 2

Operating cash flows before changes in working capital (245) (105)Increase in trade and other receivables (57) (57)Increase in inventories (8) -(Decrease) / Increase in trade and other payables (554) 199 Increase in due from related parties (3) (13)Cash (used in) / generated by operations (867) 24 Employees' end-of-service indemnity paid (2) -Net cash (used in) / generated by operating activities (869) 24 Cash flows from investing activitiesDecrease / (increase) in other financial assets and short term deposits 371 (532)Additions to property and equipment (209) (2,086)Additions to investment properties - (104)Interest received 20 36 Investment in joint venture (18) -Net cash generated by / (used in) investing activities 164 (2,686)Cash flows from financing activitiesProceeds from additional shares issued - 1,678 Share issue costs - (9) Proceeds from bank facilities 795 1,232 Payments for finance cost (108) (74)Payments for finance lease (15) -Increase in restricted cash - (14)Net cash generated by financing activities 672 2,813 Net (decrease) / increase in cash and cash equivalents (33) 151 Cash and cash equivalents at the beginning of the period 1,344 364 Cash and cash equivalents at the end of the period 1,311 515

Condensed consolidated statement of cash flows

35Due to rounding, numbers presented may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures. 30 June 2017 figures are unaudited.

For the six month period ended 30 June 2017

36

Appendix IIIDPR Phase I and Phase II projections based on 2014 IPO

prospectus and 2016 Rights Issue documents

Projections DPR Phase I and Phase II

Projections

The projections covered in this section are based on the 2014 IPO prospectus and the 2016 Rights Issue documents and have not been revised since.

Management has indicated that revised guidance will be given post Q3 2017 results and that it is seeking a 20% operational cost reduction in 2017 compared to the original projections.

37

Pro

ject

fun

din

g (

AE

Dm

)P

hase

I

Phase IEquity Funding Debt Financing

6,322

4,21410,536

Pro

ject

fun

din

g (

AE

Dm

)P

hase

II

Phase IIEquity Funding

Debt Financing

1,678

9932,671

Debt facility secured from Abu Dhabi Commercial Bank, Dubai Islamic Bank and Sharjah Islamic Bank.

Projected theme park visits and market penetration

38

14.1 15.5 16.8 18.0 19.2 21.0 23.1 27.3

31.7 30.1 2.3 2.2 2.4 2.6 2.8 3.0 3.3

3.9 4.5

4.3

7.0 7.2 7.5 7.8 8.1 8.4

8.7 8.9

9.2 9.4

2013 2014 2015F 2016F 2017F 2018F 2019F 2020F 2021F 2022F

UAE Resident Population Income and Drive Qualified

UAE International Tourists (VFR)

UAE International Tourists (Hotel Guests)

23.4 25.026.6

28.4 30.132.5

35.240.2

45.4 43.8

0.8 0.9 1.0 2.2 2.3 3.2 4.3 4.5 4.71.5

6.16.6

7.8

11.212.8

2013 2014 2015F 2016F 2017F 2018F 2019F 2020F 2021F

Other UAE theme park visits DPR theme park visits

Source: Dubai Parks and Resorts 2014 Feasibility Study. Other UAE theme parks is based on announced and existing theme parks and assuming a steady annual growth rate in visitation numbers.Due to rounding, numbers presented may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figuresNotes: 1 - Market penetration is calculated as total theme park visits / addressable market. The addressable market for the UAE is adjusted for certain factors such as income, location etc. as per the Dubai Parks and Resorts 2014 Feasibility Study .2 - 2016F DPR visits only include visits from expected commencement of operations as per analysis in the Dubai Parks and Resorts 2014 Feasibility Study . DPR theme park visits includes Six Flags Dubai starting 2019.

• Total UAE theme park addressable market consists of

– Hotel tourists– UAE residents– Visiting friends and relatives (“VFR”)

• UAE theme park demand estimated based on penetration rates of comparable markets

• Large variation in penetration rates based on maturity of theme park offering

• Dubai Parks and Resorts will serve the majority of the pent up theme park demand (number of visits does not include visits to the Bollywood Parks’ Rajmahal theatre and to the LEGOLAND® Water Park)

• DPR offering appeals to multiple customer segments

• World class IPs and differentiated offering

Total market penetration potential 37% 44%

Actual penetration (assumed in business plan)

38%

90% 42% 37% 24% 18%

Orlando Denmark Japan Hong Kong Singapore

0.8 0.9 1.0

3.7

8.4

9.8

12.1

15.7

7.68.1

9.1

11.212.6

14.2

16.9

19.8

Theme Park Visits Potential

Penetration rate

No of parks 7 2 5 2 1

17.4

10.1

E

28%

UAE theme park addressable market (millions of potential visitors)

Theme park visits and market penetration1

(2013-2022F visits in millions)

E

Financial projections summary – DPR Phase I

39

1546 1740 1957

492550

616

2017F 2018F 2019F

Tickets In-park spend

2038 2289 2573

220251

278

5462

63

135153

172

2017F 2018F 2019FTheme parks Lapita Hotel Riverland Dubai Other

6.7 7.2 7.9 9.1 10.3

2017F 2018F 2019F 2020F 2021F

Revenue by entity (AED million)

Theme park revenue is 83.4%

Total visits per year (million)

2,4472,755

3,086

76% of theme park revenue generated from tickets

Theme park revenue by category (million)

2,0382,289

2,573

2017 2018 2019 CAGR

Visits 6.7 7.2 7.9 11.3%

Growth 7.5% 9.7%

Revenue 2,447 2,755 3,086 12.3%

Growth 12.6% 12.0%

EBITDA 605 726 845

Margin 24.7% 26.3% 27.4%

Net Income (36) 108 249

Source: Dubai Parks and Resorts 2014 Feasibility Study. Note: All the above charts capture full-year performance commencing 2017F. In-park spend includes park sponsorship revenue.Due to rounding, numbers presented may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures.

Financial performance (AED million)

Revenue per capitaAED 304 AED 318 AED 324

Financial projections summary – DPR Phase II

40

145

696814 818

42

197229 230

2019F 2020F 2021F 2022F

Tickets In-park spend

0.6

2.93.3 3.2

2019F 2020F 2021F 2022F

Construction cost1,457

Infrastructure cost473

Land cost390

Financing, corporate and others cost286

Business development and issue expenses 1

65

1 Business Development budget to be utilized for master-planning of future phases, hospitality offering expansion, development of strategic partnerships / JV, evaluation of new concepts / ideas, etc.In-park spend includes park sponsorship revenue. Due to rounding, numbers presented may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures.

Revenue per capitaAED 312 AED 308 AED 316 AED 327

Total visits per year for Six Flags Dubai (million) Six Flags Dubai revenue by category (million)

Uses of funds (AED 2,671 million)

2020F 2021F 2022F CAGR

Visits 2.9 3.3 3.2 5.1%Growth 13.4% -2.6%

Revenue 893 1,043 1,048 8.3%Growth 16.8% 0.5%

EBITDA 296 371 365Margin 33.2% 35.6% 34.8%

Net Income 134 209 204

Financial performance (AED million)

187

8931,043 1,048

78% of theme park revenue generated from tickets

Summary projected financials – DPR Phase I

41

Sources: Company information, Dubai Parks and Resorts 2014 Feasibility Study.Due to rounding, numbers presented may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figuresNotes: 1- Income statement and cash flow statement shown above are for the periods indicated. Balance sheet relates to the financial position at the end of the corresponding periods. 2- The financial year ending for the Company is December.

2015F 2016F 2017F 2018F 2019FIncome statementRevenue - 563 2,447 2,755 3,086 Gross profit - 188 868 1,014 1,160 EBITDA (360) (402) 605 726 845 Operating profit before taxes and interest (360) (495) 234 351 465 Net income (326) (559) (36) 108 249

Balance sheetAssetsTotal non-current assets 4,921 9,223 8,881 8,584 8,300 Total current assets 4,138 575 719 728 865

o/w Cash 3,786 487 622 620 742 Total assets 9,059 9,798 9,600 9,312 9,165

LiabilitiesTotal current liabilities 687 466 91 104 119 Total non-current liabilities 2,496 4,016 4,229 3,819 3,408

o/w Loans 2,496 4,013 4,215 3,793 3,372 Total liabilities 3,183 4,482 4,320 3,923 3,527 Total equity 5,875 5,316 5,280 5,389 5,638 Total equity and liabilities 9,059 9,798 9,600 9,312 9,165

Cash flow statementCash flow from operating activities (152) (424) 221 726 843 Cash flow from investing activities (2,793) (4,169) (18) (65) (83)Cash flow from financing activities 2,199 1,294 (73) (671) (645)

Forecasts as of the offering memorandum issued in November 2014AED million

42

Appendix IVAbout Dubai Parks and Resorts

DXB Entertainments owns Dubai Parks and Resorts, a premier year-round integrated theme park destination, which opened to the public in 2016

World class partners and brands including LEGOLAND® Parks, DreamWorks Animation LLC, Colombia Pictures, Lionsgate, Six Flags and popular Bollywood movies

About Dubai Parks and Resorts

43

Phase 2

Phase 2

* Phase II expansion, Six Flags Dubai opening in 2019 and LEGOLAND Hotel after 2018. LEGO, the LEGO ® logo and LEGOLAND ® are trademarks of the LEGO Group. ©2015 The LEGO Group. LEGOLAND IS A PART OF MERLIN ENTERTAINMENTS plc.

43

DPR location

44

• 20 km from Al Maktoum International Airport

• 63 km for Dubai International Airport

• 68 km from Abu Dhabi International Airport

Strategically located on Sheikh ZayedRoad mid way between Dubai and Abu Dhabi International Airports

Set across 30.6 million square feet of land of which 25.1 million square feet is for Phase I and 5.5 million square feet for Phase II of DPR

c. 19.5 million square feet is owned by us, and

c. 11.1 million square feet of additional land, for which we have all necessary easement rights, will principally be used for access roads and parking

Mitigating the potential impact of seasonality

45

Addressing the concerns around heat levels in Dubai during the summer months

Sources: Dubai Meteorological Office, National Environment Agency Singapore, Météo-France, Danish Meteorological Institute, World Weather Online

Weather can be of concern for theme park attendance

Mitigating the DPR heat concern

Integrated strategy for dealing with the heat

State-of-the-art integrated cooling

systems

Indoor and air conditioned queuing for rides; any

additional outdoor queuing has fans

Landscape and architecture includes

significant shading

Adjustment of operating hours during summer

months to address peak day temperatures

% attractions indoor and air conditioned

• Overall, weather is a key factor that impacts theme park attendance

• Rain, snow and high temperatures impact attendance figures and ability to operate – theme parks located in countries that experience high levels of precipitation (Denmark, France, etc.) or humidity (Singapore, etc.) experience a negative impact on attendance

• Temperature is a potential concern for Dubai Parks and Resorts - Dubai is hotter than other theme park destinations during the summer months - however, precipitation levels are by far the lowest when compared to other international markets with significant theme park offerings

– Dubai has an average monthly precipitation level of 8 mm versus 108 mm, 53 mm and 195 mm for Florida, Paris and Singapore respectively

78% 43% 69%

The DPR master plan has been designed to strategically address heat concerns