Blue Ant Media Corporation · TSX:BAMI
Blue Ant Media — Investor Presentation (October 2025)
28 slides from Blue Ant Media's investor presentation, October 2025
Slide 1: A modern media company for an evolving industry
A modern media company for an evolving industry October 2025 TSX: BAMI
Slide 2: Disclaimer and Forward-Looking Information
DISCLAIMER AND FORWARD-LOOKING INFORMATION Cautionary Statement Regarding Forward-Looking Information To the extent any statements in this presentation contain information that is not historical, such statements are forward-looking statements and may be forward-looking information within the meaning
Slide 3: Disclaimer and Forward-Looking Information: Non-IFRS Measures
DISCLAIMER AND FORWARD-LOOKING INFORMATION Non-IFRS Measures This presentation makes reference to certain measures that are not recognized under IFRS and do not have a standardized meaning prescribed by IFRS. Such measures may not be comparable to similar measures presented by other companies. The C
Slide 4: Leadership with a proven track record of building media businesses
Leadership with a proven track record of building media businesses Production Distribution Broadcasting SHAREHOLDER RETURN Atlantis Films co-founded by Michael 0.7B MacMillan, now Blue Ant CEO ~$ Equity value received 2.3B Built a global media company from a small film and TV production house ~$ Org
Slide 5: Identified a shift to digital in video consumption
Identified a shift to digital in video consumption Video consumption …but where consumers are remains strong… watching is changing HOURS SPENT WEEKLY WATCHING TV SHARE OF U.S. TV VIEWING – JAN. ‘252 BY AVERAGE AMERICAN1 Other, 11% Streaming, 33 33 43% Broadcast, 23% 2011 2023 Cable, 24% o Subscripti
Slide 6: Blue Ant Media: Who we are
Blue Ant Media (TSX: BAMI): Who we are Streamer Producer Distributor Founded in 2011 Went public Own and operate paid, free and Produce owned content and service Distribute owned and third-party August 1, 2025 Streamer ad-supported produce content for content to streaming channels streamers and stre
Slide 7: A modern media company: How we monetize
A modern media company: How we monetize Licensing IP OWNER & MONETIZER Content (IP) Acquire and Owner & Subscriptions Produce Content Monetizer Advertising Blue Ant Media 7
Slide 8: Global Channels & Streaming
Global Channels & Streaming Global Brand: & Advertising Subscription Advertising Connected TV Ad Solutions Global Channels & Streaming • Distributed across platforms in 100+ countries • Streaming and broadcast platforms (including digital, YouTube, Pay TV, etc.) • Connected TV ad sales is one of the
Slide 9: Production & Distribution: Blue Ant Studios
Production & Distribution: Blue Ant Studios Blue Ant Studios • Production of owned content for streamers, broadcasters and owned channels • Distribution of owned and third-party content to streamers, broadcasters and owned channels • Service Produce content for streamers, broadcasters • Operate acro
Slide 10: Canadian Media
Canadian Media Specialty Channels: Consumer Shows: Publishing: Canadian Media • Specialty channels in core genres enabling content sharing with global FAST channels • Consumer shows catered to audiences around their passions with content tie-ins to Canadian and global channels • Monetize through ad
Slide 11: Love Nature: Our model at work
Love Nature: Our model at work Leading MONETIZE CONTENT ACROSS MULTIPLE PLATFORMS global brand • Original content commissioned, produced and owned of original 4K natural history programming • Distributed globally as free streamer, pay channel or branded block 95% Owned content • Distributed to other
Slide 12: The Mike Holmes Catalogue: Our model at work
The Mike Holmes Catalogue: Our model at work Leading OVERVIEW • Acquired Mike Holmes content library in 2023 • Recognizable, evergreen content that global travels well internationally • Life across multiple platforms: library Distributed in 40+ countries • Marquee content for Blue Ant’s Homeful chan
Slide 13: Multi-faceted business that performs in challenging sector times
Multi-faceted business that performs in challenging sector times REVENUES AND AEBITDA1 $M 290 Production & Distribution 22% $50M Canadian Media Global Channels & Streaming 196 194 169 Revenue CAGR F20-F24 cumulative IFRS from F20-F24 net income 136 16% 20% 100 87 Return on Capital Adusted EBTIDA Emp
Slide 14: Diversified and stable business
Diversified and stable business REVENUE MIX BY GEOGRAPHY1 SIGNIFICANT RE-OCCURRING BUSINESS: Increasing international presence Business segments not reliant on new productions Adjusted EBITDA Studios, 16% International Canada Other segments, 84% F2020 F2024 1 From continuing operations. Reduced reli
Slide 15: Strong balance sheet with low leverage
Strong balance sheet with low leverage $25.5M cash Up to an 1X net debt guaranteed on additional $12.3M cash1 to Adjusted Aug. 1, ’25 & ~$48.3M cash EBITDA2 ~$16M from sale as part of the of TIG shares3 RTO4 1. As at May 31, 2025. 2. As of May 31, 2025. Calculated as the sum of indebtedness less cas
Slide 16: Going forward – focused on growth by M&A
Going forward – focused on growth by M&A Media-adjacent sectors Canadian Media: • New consumer OUR FOCUS: shows • Expand media sales offerings Studios: • Production capacity • Complementary IP catalogues Global Channels: • Expand global • Pipeline of opportunities at brands attractive valuations as
Slide 17: M&A target characteristics
M&A target characteristics Synergies Scale M&A Target Strategic fit IP Blue Ant Media 17
Slide 18: MagellanTV acquisition aligns with M&A target attributes
MagellanTV acquisition aligns Synergies Scale with M&A target Operational efficiencies Accelerates international growth attributes Improves margins Expands monetization through adding owned IP channels Cross-promotion Adds streaming opportunities platforms Strategic Fit IP Extends Blue Ant’s New pip
Slide 19: Demonstrated ability to create and harvest value
Demonstrated ability to create and harvest value Case Study: Omnia Media o Acquired minority stake in Omnia, a music-focused YouTube multi-channel network (MCN) in 2013 and full ownership in 2016 o Under Blue Ant, Omnia developed into largest global gaming content network Cash deployed into core gro
Slide 20: Going forward: organic growth
Going forward: organic growth Launch new global Expand digital strategy brands across multiple (ad sales, free streaming platforms on demand) outside of North America and on new platforms GROWTH DRIVERS Increase content Scale streaming ad production for owned sales (via Connected channels and third
Slide 21: Leadership
Leadership Michael MacMIllan Robb Chase Jamie Schouela Astrid Zimmer Dervla Kelly Co-founder, CEO & Director CFO & Director COO Chief Legal Officer Chief Marketing & Co-founded Blue Ant in 2011. Blue Ant’s former COO and has Previously served as President, Has been with Blue Ant since Communications
Slide 22: Board of Directors
Board of Directors Richard Wernham, Chair, Audit Committee Brad Martin, Board Chair Phyllis Yaffe, Chair, HR & Richard Wernham, Chair, Michael MacMIllan, Co- Robb Chase, CFO & Director Served as Vice President of Corporate Governance Audit Committee founder, CEO & Director Blue Ant Media’s CFO and f
Slide 23: Investment Highlights
Investment A modern media company for an evolving industry Highlights Proven ability to Leadership with Diversified, identify market Strong Balance Opportunistic track record of growing and trends and Sheet with cash transactions to building profitable capitalize on available to accelerate successfu
Slide 24: Appendix
APPENDIX Blue Ant Media 24
Slide 25: Financial Summary
Financial Summary Strong growth through $M F2020 F2021 F2022 F2023 F2024 9 mos. 9 mos. F2024 F2025 challenging industry Revenues1 conditions Global Channels and Streaming 14 16 30 48 56 42 60 Production and Distribution 28 32 52 63 81 48 36 o 22% CAGR in revenues and 20% in Canadian Media 54 60 67 7
Slide 26: Reconciliations of Nine Months Adjusted EBITDA to Net Income
Reconciliations of Nine Months Adjusted EBITDA to Net Income 9 mos. 9 mos. $M F2020 F2021 F2022 F2023 F2024 F2025 F2024 Revenues1 87 100 136 169 196 140 142 Less: Direct content, production and delivery expense 43 42 63 81 107 77 81 General and administrative expenses 27 36 40 50 52 38 39 Adjusted E
Slide 27: Financial Summary - Three Months Ended May 31, 2025
Financial Summary - Three Months Ended May 31, 2025 3 months ended May 31, M$ 2025 2024 Revenues Global Channels and Streaming 21.4 13.0 Canadian Media 22.2 23.5 Production and Distribution 15.1 17.6 Inter-segment eliminations (3.0) (2.3) Revenues 55.7 51.8 Segment Profit & Adjusted EBITDA Global Ch
Slide 28: Reconciliation of Three Month Adjusted EBITDA to Net Income
Reconciliation of Three Month Adjusted EBITDA to Net Income 3 months ended May 31, M$ 2025 2024 Revenues 55.7 51.8 Less: Amortization of programming assets 8.3 16.6 Other direct content, production and delivery expense 20.1 11.0 Direct content, production and delivery expense 28.4 27.6 Sales, genera
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