DXB Entertainments PJSCInvestor PresentationMay | 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. ©2016 The LEGO Group. LEGOLAND IS A PART OF MERLIN ENTERTAINMENTS plc.

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3

Company Overview

DXB Entertainments PJSC

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DXB Entertainments PJSC is a Dubai headquartered leisure and entertainment company traded on the Dubai Financial Market under the trading symbol DXBE.

DXB Entertainments PJSC was listed on the DFM in December 2014 originally as Dubai Parks and Resorts PJSC.

DXB Entertainments PJSC owns the Dubai Parks and Resorts destination which consists of 4 theme parks (Six Flags Dubai coming in 2019) and 1 water park all at the same location.

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.

8.1bAED 8.1 billion market capDXB Entertainments PJSC is listed on the Dubai Financial Market and has a market cap of AED 8.1 billion as at 31 March 2017.

DXB Entertainments group

5

The Company aims to generate long term growth through developing relevant companies and assets in target sectors:

In the short-term, DXB Entertainments’ focus is to achieve operational excellence and delivering additional growth and stable visitor numbers at Dubai Parks and Resorts.

In the medium to long-term the Company may seek to expand the opportunities to include media and entertainment.

Theme Parks Hospitality Retail and Dining

Hotel*

*

* Phase II expansion, coming 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.

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 March 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 March 2017

Dubai Parks and Resorts

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Dubai Parks and Resorts

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Premier year-round integrated theme park destination, opened on 31 October 2016

Total estimated cost is AED 13.2 billion

• AED 10.5 billion for Phase I and

• AED 2.7 billion for Phase II.

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

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

Due to rounding, numbers presented may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures

DPR location

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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

Dubai Parks and Resorts officially inaugurated on 18 December 2016

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Dubai Parks and Resorts opening

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31 October 2016

LEGOLAND® Dubai and Riverland™ Dubai

17 November 2016

Bollywood Parks™ Dubai

2 January 2017

Lapita™ HotelLEGOLAND® Water Park

16 December 2016

MOTIONGATE™ Dubai

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Key Investment Highlights

Key investment highlights

13

01Untapped theme park market in the MENA/Indian Subcontinent

Despite significant demand for theme park offerings, the Middle East and wider region currently lacks a world class theme park destination.

02Favourable UAE tourism growth trends

Dubai’s international visitors reached 14.9 million in 2016 – a 5% increase year on year. In the first quarter of 2017 it has grown by 11%.

03Unique offeringOnly multi-theme park destination in the region, first Bollywood theme park in the world, only water park targeting children in the region, first LEGOLAND® Park in the region, and a unique Hollywood movie themed park.

As the owner of the largest theme park destination in the Middle East and Indian Subcontinent, DXB Entertainments is a unique opportunity to tap the regional theme park market

Untapped theme park market MENA/Indian subcontinent

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50.0

3.6

142.7

7.7

3.7

1.0

1.4

62

14.7

1.0

4.2

20.5

7.7

8.9

6.8 4.7

4.6

5.2 2.9

UNTAPPED MARKET

Global Attendance Across Top Theme Parks (2015, million)

Source: AECOM

1 “Dubai Airports Factsheet. 2 AECOM. 3 Source: Dubai Parks and Resorts 2015 Feasibility Study for the period 2014-2022F. Other sources: TEA and AECOM 2015 Theme park index, AECOM Global Attractions Attendance Report.

3 billion people live within a 4 hour flight from Dubai

Top 10 global theme park groups recorded

420.4 million visits in 20152

DXB arrivalsup 7.2% in 20161

Dubai and Abu Dhabi population growth projected at

4.0% CAGR3

Dubai and Abu Dhabi tourist arrivals projected

to grow at 8.6% CAGR3

Total visitors Jan-Mar 2017

4.57mUp 11.2% YOY

Q1 2017 Q1 2016 % changeIndia 578 469 23%Saudi Arabia 440 476 -8%UK 350 334 5%China 230 140 64%Oman 214 322 -33%Iran 181 130 39%Pakistan 178 152 17%USA 176 166 6%Germany 172 171 0%Kuwait 131 119 10%Total 2,650 2,479 6.9%Russia 126 61 106%

Tourism growth trends

15Source: Department of Tourism and Commerce Marketing(DTCM)

7% – Russia, CIS, EE (Eastern Europe)

22% – Western Europe11% – North Asiaand

South-East Asia

18% – South Asia19% –GCC

12% – MENA

4% –Africa

1% – Australasia

6% –Americas

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

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

• Only theme park destination in the world with 4 gates within walking distance of each other

• Targets a wide audience across age groups and demographics– families with children 2-12, teenagers, adults

• Best-in-branded entertainment from three of the largest picture studios in Hollywood – DreamWorks Animation, Columbia Pictures and Lionsgate

• First Bollywood theme park in the world• First LEGOLAND® park in the region• First water park targeting children 2-12 in the region

Unique offering

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A multi-themed destination unique to region and the world

LEGO, the LEGO ® logo and LEGOLAND ® are trademarks of the LEGO Group. ©2015 The LEGO Group. LEGOLAND IS A PART OF MERLIN ENTERTAINMENTS plc.

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Q1 2017 Performance

Total RevenueAED 159.9 million

Key Q1 2017 performance highlights

18Due to rounding, numbers presented may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures. 31 March 2017 figures are unaudited.

Theme Park RevenueAED 125.4 million

Visits586,355

Revenue per capAED 213.9(theme parks)

Total assetsAED 12.5 billion

Drawn downAED 3.8 billionFrom AED 4.2 billion facility

1 January 2017 – 31 March 2017

Average occupancy

21%Revenue per capita

AED 213.9Theme parks

Revenue breakdown

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Totalrevenue

AED159.9m

ThemeparkRetail HospitalityOthers

78%

9%

7%

6%

Theme parkrevenue

AED125.4m

AdmissionsIn-park spend Others

68%

24%

8%

Retail revenue

AED14.4m

LeasingNon-leasing

76%

24%

Visits

586,355GLA leased

84%Average daily rate

AED 795

Due to rounding, numbers presented may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures. 31 March 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.

1 January 2017 – 31 March 2017

Hospitality revenue

AED10.4m

AccommodationOthers

70%

30%

Total Visits

586,355

Visits breakdown

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Visits breakdown (bycategory)

Walk-in 33%Online 24%Tour operator 14%Others 29%

Key visitation factors:

Key School holidays during the period positively impact attendance• Saudi school holidays• Kuwaiti school holidays• UAE school holidays

Rainy weather during the period negatively impacts attendance

Jan-Mar 2017

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

Loss for the period

AED228mExcluding the pre-operating expenses and interest income from Six Flags Dubai

Operating Expenses

AED214mExcluding the pre-operating expenses and interest income from Six Flags Dubai

Summary financial results

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Financial PerformanceAED millions

Due to rounding, numbers presented may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures. 31 March 2017 figures are unaudited.

1 January 2017 – 31 March 2017

Q1 2017 Q1 2017 Adjusted*

Revenue 160 160Cost of Sales (13) (13)Gross Margin 147 147Operating Expenses (285) (214)Depreciation (111) (111)Interest / Financing Costs (Net) (43) (50)Loss for the period (292) (228)CF hedging gain (loss) on FV 4 4Total Comprehensive loss for the period (288) (224)

* Adjusted Q1 2017 performance excludes pre-operating expenses of AED 71 million from operating expenses and AED 7 million of interest income from Six Flags Dubai from Interest/Financing Costs

Excluding pre-operating expenses and interest income from Six Flags Dubai

Summary financial results

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Totalassets

AED12,541mProperty andequipment 75.14%Investment properties 5.01%Investment in a Joint Venture 0.14%Inventories 0.38%Due from a related party 0.18%Trade and other receivables 1.15%Derivative financial instruments 0.33%Other financialassets 3.34%Cash and bankbalances 14.34%

Dec 2016: AED 12,814 million

For the three months ended 31 March2017

Movement in CashAED millions

OperatingInvesting- other financial assetsInvesting- property and equipment and investment propertiesInvesting - othersFinancing

Due to rounding, numbers presented may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures. 31 March 2017 figures are unaudited.

1 January 2017 – 31 March 2017

Financing

AED3.8bnAED 3.8 billion drawn down from our AED 4.2 billion financingfacility for Phase I of DPR

(529)

571

(64)(10)

295

(600)

(400)

(200)

-

200

400

600

800

Key challenges ahead

Operating during summer and Ramadan

Q2 and Q3 are expected to be lower performing quarters due to Ramadan and the summer months

Effective 21 May 2017 new operating hours, improved transportation service and attractive packages will be implemented to continue attracting visitors during the summer

Increasing attendance numbers from tour and travel

Key focus for the sales strategy is increasing the contribution of the tour and travel to the visitation numbers to ensure targets are met

Ramp-up in contribution from 5% in Q4 2016 to 14% in Q1 2017 shows promising signs of growth

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DPR Strategy

Sales strategy

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Create active consideration and pre-booking solutions for tourist planning to vacation in Dubai

Drive demand and secure conversion for tourist already in Dubai

Diversify source of business to secure off-peak attendance

Build consumer insight and revenue management to better forecast and optimize our business

Deliver solid booking solution and engaging customer portal

Sales strategy

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Source market representation and attendance targets

Canada

USA

Western Europe

Russia

Nigeria

China

Australia

India / Pakistan

UK - Rep office- 2 ticket brokers - 10 Tour

operators

Germany / Swiss- Rep office- 8 Tour

operators

Russia - Rep office- 9 Tour

operators

China - Rep office- 9 Tour

operators- 2 OTA’s

India - Rep office- 9 Tour

operators

UAE- 82 DMC’s

Africa- 8 Tour

operators

* 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

Ticket prices

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In line with regional and international offerings

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 291Universal 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

Dubai Parks and Resorts

International

Revised pricing strategySimplifying the diversity of our offering

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1 day

1 day 2 parks

2 Days 4 parks

7 daysAll theme parks

Starting From* AED 215 AED 335 AED 425 AED 505

Single park

Single park + water park

All parks

VIP all parks

StartingFrom AED 755 AED 985 AED 2,496 AED 6,995

Single park / multi-park / multi-day ticket options

Annual Passes

Q - Fast VIP tours VIP tickets

Add On

*the prices as per dated tickets purchased online.

Driving in-park spend

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01Food and Beverage

All F&B concepts within the parks are operated by Dubai Parks and Resorts in partnership with our central kitchen

02Merchandising

IP branded products

Park branded products

Destination-wide products

3rd party concessionaires

03Photography and Games

Picsolve International is providing in-park image capture

HB Leisure are providing skills games

Both are revenue share agreements

04Services

Locker rental

Stroller rental

Wheelchair rental

ECV rental

Enhancing the visitor experience

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Resort App

MAIN FUNCTIONALITIES:o Discover the parko Buy ticketso See all attractionso Way findingo Geo Localizationo E-Walleto Share E-Walleto Family & Friendso Meeting Placeo Eventso Share contento Make reservationso Couponingo Push Notificationo Book a table

Tickets

MAIN FUNCTIONALITIES:o RFID ticketo E-Walleto Hotel key

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Creating and leveraging our own brand IPs

Mitigating the potential impact of seasonality

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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

Summer Strategy

Operating during summer and Ramadan

Effective 21 May 2017

Attractive summer packages announced AED 195, one park + unlimited food AED 295, two parks + unlimited food

Summer operating hours with later start MOTIONGATE™ Dubai 2pm-10pm Bollywood Parks™ Dubai 4pm-12am LEGOLAND® Dubai 12pm- 8pm LEGOLAND® Water Park 10am–7pm

Tram transportation available between the parks and through Riverland™ Dubai

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MOTIONGATE STOP

FRENCH VILLAGE / BUS-TAXI STOP

BOLLYWOOD STOP

LEGOLAND STOP

RT2 - VIP CAR PARK STOP

RT1 - BOARDWALK STOP

RT3 - FRENCH VILLIAGE STOP

R I V E R L A N D - T R A M R O U T E

RT1 - VIP CAR PARK STOP

Summer Operational Strategy

Air-conditioned trams will transport guests through Riverland™ Dubai

Over 150 misting fans will be placed strategically throughout Riverland™ Dubai.

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35

DPR Phase II

Project funding – DPR Phase II

36Source: Company information

Due to rounding, numbers presented may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures

Pro

ject

fu

nd

ing

(A

ED

m)

Ph

ase

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.

Six Flags Dubai

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About Six Flags Dubai

• GCC wide exclusivity (excluding KSA) + Egypt

• Due to open late 2019

• 27 rides and attractions spread across an opening day

footprint of 2 million square feet

• Construction started in July 2016

• Will be operated by Dubai Parks and Resorts (under a

management services agreement with Six Flags)

Construction updateOn track to open in late 2019

Procurement:• 7 ride agreement are signed. Agreement Signing of

10 rides are in final stage, remaining 4 rides areunder negotiation with Ride Vendors.

Design Development:• 90% DD progressing for multiple packages.

Construction:• Enabling works and access roads completed• Nitro splash pond, laydown area & retention basin

substantially completed. BOH Car Park, & BOHbuildings substructure works commenced.

As at 31 March 2017

LEGOLAND® Dubai Hotel

LEGO® themed hotel to open at Dubai Parks and Resorts

• First LEGOLAND® Hotel in the Middle East• Adjacent to LEGOLAND® Dubai• Set across 300,000 square feet• 250 rooms• 60:40 joint venture between DXB Entertainments

and Merlin Entertainments• Will be operated by Merlin Entertainments once

open

Construction update

Project Management• Contracts for lead consultants finalized.

Design & Site Progress• Detailed Design stage for Facility works completed

and currently VE exercise in progress.• Detailed Design stage for Infrastructure works

completed and for Area Development being developed.

• Grading works completed and Erection of Hoarding in progress.

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As at 31 March 2017

Projected theme park visits and market penetration

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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 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

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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

Emaar Square, Building 1, Level 2PO Box 123311, DubaiUnited Arab Emirates

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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Raed Kajoor Al NuaimiChief Executive Officer• Has held senior management roles over a 15-

year period with companies such as Tatweer,Dubailand and Dubai Properties Group

• Previously, he was the Chief Leisure andEntertainment Officer at Meraas Holdingwhere he helped develop new strategies andidentify opportunities for the company in theleisure and entertainment field

Matthew PriddyChief Technical Officer

• Over 35 years of experience in prototype,project development and real estate withexpertise in the creative development ofentertainment destination projects

• 20 years of experience at the Walt DisneyCompany, with responsibility for design,engineering, manufacturing and overallproject management for a number ofDisney theme parks, resorts and technicaldevelopments

• Holds a bachelor’s degree in TheatricalTechnology from the University ofCalifornia, Los Angeles

Sandesh Pandhare, CFAChief Financial and Investment Officer• Over 23 years of experience in the global

private equity and investment industry• Previously held senior positions at Istithmar

World and JAFZA, among others• CFA charter holder and holds a Master’s in

Management Studies from Mumbai University,India

Vinit ShahChief Strategy and Business Development Officer

• Over 15 years of experience in the leisure andhospitality industry

• Has previously held senior managementpositions at Dubai Properties Group and anumber of Fortune 500 companies

• Holds an MBA from the Asian Institute ofManagement in the Philippines, a StrategicFinance certificate from the Vienna Universityof Economics and Business, and a Master’s inCommerce and Business Management fromthe University of Mumbai, India

Paul La FranceChief Projects Officer• Over 37 years of experience in worldwide

entertainment and hospitalitydevelopments

• Previously Vice President of ProgramManagement at Samsung C&TCorporation

• Selected projects include Disneyland Paris,Walt Disney Studios Paris, AnimalKingdom (Florida), Hong Kong DisneylandResort, Universal Studios’ Hollywood andCityWalk Expansion (California), UniversalStudios Japan, Royal Island Resort(Bahamas)

Stanford PintoChief Parks Operating Officer

• Over 20 years of professional experience withexpertise in the areas of risk management,corporate governance, internal auditing, aswell as process control and designmanagement

• Has previously held senior executive positionswithin the business consulting and riskmanagement divisions of leading accountingfirms including Arthur Andersen and Ernst &Young

• Holds an MBA from Pune University and abachelor’s degree in Commerce from theUniversity of Mumbai

Klaus AssmanSVP- Retail and Hospitality

• More than 27 years of experience in thehospitality industry across the UAE, Thailandand the United States leading theopening/renovation of more than seven hotelproperties.

• Previously held the position of GeneralManager of Sofitel Dubai Downtown as well ascompleting tenures at Jumeirah Group in theUAE, Thailand and the United States, Shangri-La Hotels and Resorts in the Philippines, ParkHyatt in Germany and the United States, aswell as Nikko Hotel in the United States andthe United Kingdom and Holiday Inn inGermany

• Holds a bachelor’s degree in HotelManagement from the Hotel School, Aachen,Germany

Aida HamzaChief Business Support Officer• Over 27 years of experience in management,

corporate affairs, marketing and communications• Has previously held the position of Director of

Supply Chain Management, Human Resources,Corporate Affairs and Marketing at Ejadah AssetManagement Group as well as Executive Directorof Corporate Services at Istithmar World

• Worked with leading companies in the UAE suchas Dubai World, Standard Chartered Bank, ENOC,Citibank and Emirates Broadcasting Corporation

• Holds a bachelor’s degree in Management andMarketing from the Davis and Elkins College, WestVirginia, United States

David LoiseauSVP-Sales and Marketing• Over 3 decades of experience as a sales

and marketing professional, vastly in thehotel industry, working with global brandslike Marriott International, MandarinOriental Hotel Groups and the JumeirahGroup.

• Has previously held the position of VicePresident Sales with Kerzner International,Atlantis the Palm.

• He is a Science Graduate with variousleadership certifications from the industry.

Senior management

45

• Over 15 years experience in investor relations andfinancial marketing. She previously held theposition of Head of Investor Relations at I2BFGlobal Ventures, a boutique investmentmanagement firm.

• In 2003 she joined Man Group in Switzerland andduring her six year tenure held different positionsin investment marketing and client services inLondon, Zurich and Dubai. Her last position was asMarketing and Client Service Manager at ManEnvironmental Capital Opportunities, Man’sprivate equity environmental finance arm.

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

Julien MunozVP – Sales

Brian MachamerVP – Theme Park Operations

Marwa Gouda, CAIA, CIROHead of Investor Relations

Muhammad SulemanVP of Governance, Risk and Compliance

• Over 25 years of experience in the theme parkindustry, including various roles in parkopening and operations

• Joined Universal Studios’ international team in2008 to help design the Universal Studiostheme park planned for Dubai

• Worked with Resorts World Sentosa asAssistant Vice President of AttractionOperations for more than 4 years, where hewas closely engaged in the pre-opening andongoing operations of Universal StudiosSingapore

• Also worked at Universal Studios Florida andWalt Disney World’s Magic Kingdom inOrlando, Florida

• More than 20 years’ experience in leisure andhospitality, including 12 in the theme parkindustry, having previously been Director,Marketing & sales at Disneyland Paris.

• He also worked with Group Accor in France, andHilton International in the UK.

• He now leads Dubai Parks and Resorts'’ salesand distribution strategies internationally anddomestically, and is also responsible for ticketpricing and revenue management.

• Mr. Munoz is an MBA graduate from EssecBusiness School in Paris and Cornell universityNew York.

• Over 13 years of experience in governance, riskadvisory, corporate compliance, policiesdevelopment, business process review.

• Previously he served as Senior ManagerGovernance for the Engineer’s Office of HisHighness Sheikh Mohammed Bin Rashid AlMaktoum and responsible for the developmentof its governance and control framework.

• He has also previously worked with KPMG(Dubai Office) as part of the Assurance &Business Advisory services division.

• He is an Associate Member of the Institute ofChartered Accountants of Pakistan. He holdsan Advanced Diploma in ManagementAccountancy from CIMA—UK and a bachelor’sdegree in Commerce from the University ofKarachi, Pakistan.

Name Nationality Independent Audit Committee

Nomination and Remuneration

Committee

Abdulla Al Habbai UAE

Raed Kajoor Al Nuaimi UAE

Abdul Wahab Al-Halabi UAE

Edris Alrafi UAE

Fayez Mohamed Al-Boainin Qatari

Cristian Viorel Gheorghe Romanian

Fahad Kazim UAE

Dennis C. Gilbert USA (Chairman)

Steven D. Shaiken USA (Chairman)

Board of Directors and board committees

46

UAE National

Other Nationalities

Non-Executive

Executive

Independent

Board of Directors by nationality

Board of Directors by type

5

- 4

- 5- 1- 3

Abdulla Al HabbaiChairman, Non-executive Director

• Group Chairman of Meraas Holding and Chairman of DubaiProperties

• Mr. Al Habbai is also Chief Executive Officer of theEngineering Office since 2005 and the Chairman of DubaiHills, Dubai Valiant Healthcare and Deputy Chairman of RoveHospitality.

• Serves on the Boards of Dubai Real Estate Corporation andMuseum of the Future amongst others.

• Holds a Master’s Degree in Cadastral & Land InformationManagement from the University of East London

Abdul Wahab Al-HalabiNon-executive Director

• Abdul Wahab Al-Halabi is the Group Chief InvestmentOfficer of Equitativa, a diversified financial services groupspecialising in the development of REITs in emergingmarkets.

• He was previously the Group Chief Investment Officer ofMeraas Holding group. Mr. Al-Halabi has more than 18years’ experience in the real estate sector, with expertise infinancial restructuring, crisis and debt management, creditenhancements and joint ventures.

• Previously held positions include partner at KPMG, ChiefExecutive Officer of Dubai Properties Group

• Holds a bachelor’s degree in Economics from the LondonSchool of Economics and an Executive MBA from EcoleNationale des Ponts et Chaussées

• Raed Kajoor Al Nuaimi is the Chief Executive Officer of DXBEntertainments PJSC

• Previously, he was the Chief Leisure and Entertainment Officer atMeraas Holding

• Has held senior management roles over a 15-year period withcompanies such as Tatweer, Dubailand and Dubai PropertiesGroup

• Holds a bachelor’s degree in Business Administration fromAshford University, UK, and is a member of the Chartered Instituteof Personnel and Development

Raed Kajoor Al NuaimiExecutive Director and Chief Executive Officer

Board of Directors contined

47

Steven D. ShaikenIndependent Non-executive Director

• Provides consulting services to major companies in thetravel and leisure industry including Disney, Universal,Aramark etc.

• More than 40 years of experience in the destinationbranded entertainment arena

• Previously, Executive Managing Director at AdventureWorld (Warsaw)

• Has previously worked with industry majors such as theRoyal Caribbean International, Seaworld Parks &Entertainment, Disney Cruise Lines, Starwood and Hiltonhotel chains, among others

Fahad KazimIndependent Non-executive Director

• He is an Independent Advisor to the to the GroupChairman at Meraas

• Previously the Chief Commercial Officer at Meraas Holdingwhere he was responsible for the business developmentand asset management functions including its retailinterests together with its recently launched Food &Beverage division

• Has previously worked at PwC in the audit and transactionservices divisions

• Serves on several boards, the Oversight Board at EmiratesREIT and Arthrogen BV.

• Holds a bachelor’s degree in Accounting from ConcordiaUniversity, Canada, and is a qualified Certified PublicAccountant

Edris AlrafiNon-executive Director

• Mr Alrafi is the Chief Commercial Officer at Meraas Holding.He brings more than 13 years of experience in investmentbanking, finance and private equity.

• Prior to Meraas, he served as Head of Middle East Businessat the private equity firm Developing Markets Capital (DMC)Partners

• Mr Alrafi also served as Head of UAE client coverage atGoldman Sachs for the UAE. Prior to Goldman Sachs, heserved as General Manager at First Gulf Bank in theSecurities Division and worked closely with the CEO andManaging Director of the Bank.

• He is currently Vice Chairman at Noor Bank and NshmaProperties and the Chief Executive Officer at Dubai Holding.He holds a finance degree from the Higher College ofTechnology in the UAE.

Fayez Mohamed Al-BoaininNon-executive Director

• Mr Al-Boainin is a talented and value-driven professionaloffering 29 years’ experience in the Information Technology(IT) field, with 19 years in management roles.

• He is currently the IT Director at Qatar Investment Authoritymanaging 3 departments relating to corporate IT needsincluding IT planning and strategies, business systems,infrastructure and services.

• He is a member of the Board of the Qatar Stock Exchangeand a member of its Audit and Risk Committee. Mr Al-Boainin received his BA in Computer Science and Math fromthe Pacific Lutheran University in the USA.

Denis C. GilbertIndependent Non-executive Director

• More than 45 years of experience in the theme park andattraction business

• Has held various senior management positions at SeaWorld of Ohio, Resorts World Sentosa (Singapore), StoneMountain Park (Atlanta), Ocean Embassy and threeAnheuser Busch Adventure Parks

• Chairman of the Board and majority stockholder forGilberts of Atlanta, a restaurant company operating as a‘‘Wendy’s’’ franchisee

Cristian Viorel Gheorghe Non-executive Director

• Mr Gheorghe is Chief Financial and Investment Officer atMeraas LLC. Bringing with him over 18 years of bankingexperience working globally across several industries.

• Prior to joining Meraas, Cristian served as InvestmentStrategist at Citi Private Bank in Geneva where he led the buyside advisory to a high profile, multibillion-dollar franchiserelationship of the bank in Saudi Arabia. He is a boardmember at Yvolve LLC, MD Health and Wellness LLC andMarsa Al Seef LLC and others.

• Along with a CFA designation, Cristian holds an MBA degreefrom Rotman School of Management, University of Torontoand a Bachelor’s degree in Economics from the Academy ofEconomic Studies in Bucharest.

48

Appendix IISummary Financials for the three month period

ended 31 March 2017

Condensed consolidated statement of financial position

49Due to rounding, numbers presented may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures. 31 March 2017 figures are unaudited.

31 Mar 17 31 Dec 16

Reviewed(AED m)

Audited(AED m)

ASSETS

Property and equipment 9,423 9,465

Investment properties 628 634

Investment in a Joint Venture 18 -

Inventories 48 42

Due from a related parties 22 21

Trade and other receivable 144 90

Derivative financial instruments 41 37

Other financial assets 419 990

Cash and bank balances 1,798 1,535

Total assets 12,541 12,814

EQUITY AND LIABILITIES

EQUITY

Share capital 8,000 8,000

Cash flow hedge reserve 41 37

Accumulated losses (930) (639)

Total equity 7,111 7,398

LIABILITIES

Bank facilities 3,560 3,204

Trade and other payables 1,870 2,212

Total liabilities 5,430 5,416

Total equity and liabilities 12,541 12,814

-

2,000

4,000

6,000

8,000

10,000

12,000

14,000

31-Mar-17 31-Dec-16A

ED

Mill

ion

s

Assets

Property and equipment

Investment properties

Investment in a Joint Venture

Inventories

Due from a related parties

Trade and other receivable

Derivative financial instruments

Other financial assets

Cash and bank balances

-

2,000

4,000

6,000

8,000

10,000

12,000

14,000

31 Mar 17 31 Dec 16

Equity and Liabilities

Total Equity

Bank facilities

Trade and other payables

As at 31 March 2017

Condensed consolidated statement of comprehensive income

50Due to rounding, numbers presented may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures. 31 March 2017 figures are unaudited.

31 Mar 17 31 Mar 16

Reviewed Reviewed

(AED m) (AED m)

Revenue 160 -

Cost of Sales (13) -

General, administration and operating expenses (334) (40)

Marketing and selling expenses (41) (15)

Other expenses (21) -

Interest (expenses) / income (37) 19

Amortization of borrowing cost (6) (2)

Share of loss from Joint Venture - -

Loss for the period (292) (38)

Cash flow hedge gain / (loss) on fair value 4 (37)

Total comprehensive loss for the period (288) (75)

For the three months ended 31 March 2017

(292)

(38)

(350)

(300)

(250)

(200)

(150)

(100)

(50)

-31-Mar-17 31-Mar-16

AE

D M

illio

ns

Loss for the period

Condensed consolidated statement of cash flows

51

Movement in Cash(for three months ended 31 Mar 2017)

Due to rounding, numbers presented may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures. 31 March 2017 figures are unaudited.

31 Mar 17 31 Mar 16Reviewed Reviewed

(AED m) (AED m)Operating ActivitiesLoss for the period (292) (38)Adjustments for:Depreciation Expense 111 2 Interest expenses / (income) 37 (19)Provision for employees' end of service indemnity 1 1 Amortization of borrowing cost 6 2 Share of loss from Joint Venture - -(Increase) / Decrease in advances to contractors and other receivables (43) 44 Increase in inventories (6) -(Increase) / Decrease in trade and other payables (342) 218 Movement in related party balance (1) (13)Net cash (used in) /generated by operating activities (529) 197

Investing activitiesDecrease in other financial assets 571 (178)Additions to property and equipment (64) (844)Additions to investment properties - (40)Interest received 8 3 Investment in Joint Venture (18) -Net cash (used in) / generated by investing activities 497 (1,059)

Financing ActivitiesProceeds from bank facilities 353 887 Borrowing cost paid (6) (5)Finance cost paid (52) (22)Movement in restricted cash - (14)Net cash (used in) / generated by financing activities 295 846

Net cash movement during the period 263 (16)Cash and cash equivalent at the beginning of the period 1,344 364 Cash and cash equivalent at the end of the period 1,607 348

For the three months ended 31 March 2017

(529)

571

(64)(10)

295

(600)

(400)

(200)

-

200

400

600

800

Operating

Investing-Other Financial Assets

Investing-Property and equipment and Investment properties

Investing-Other

Financing

52

Appendix IIIDPR Phase I projections based on 2014 IPO prospectus

Projections DPR Phase I

2014 IPO Projections

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

Management has indicated that revised guidance for 2017 will be given post Q1 2017 results and that it is seeking a 20% operational cost reduction in 2017.

53

Pro

ject

fu

nd

ing

(A

ED

m)

Ph

ase

I

Phase IEquity Funding Debt Financing

6,322

4,21410,536

Financial projections summary – DPR Phase I

54

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

Summary projected financials – DPR Phase I

55

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