Blue Ant Media Corporation · TSX:BAMI
Blue Ant Media — Investor Presentation (July 2026)
45 slides from Blue Ant Media's investor presentation, Jul 15, 2026
Slide 1: A Modern Media Company For An Evolving Industry
A Modern Media Company For An Evolving Industry TSX: BAMI Investor Presentation | July 2026
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
Disclaimer and Forward-Looking Information Cautionary Statement Regarding Forward-Looking Information, continued The foregoing list of assumptions and risk factors is not exhaustive, and there are other risks and uncertainties, including those that the Company does not yet know about or that it curr
Slide 4: Company Overview and Investment Summary
1 Company Overview and Investment Summary Investor Presentation | July 2026 4
Slide 5: Blue Ant Media (TSX: BAMI)
Blue Ant Media (TSX: BAMI) 2 acquisitions in first Went public Aug. 1 ‘25 months as a public via reverse takeover company: US streamer No new equity with substantial Magellan (Oct. ‘25) & Founded in 2011 raised since 2016 support from Fairfax publicly traded Financial (TSX: FFH) Thunderbird Entertai
Slide 6: Key Investment Considerations
Key Investment Considerations Profitable, Very strong Opportunistic Model Diverse Proven growing cash & time for sector derives revenue shareholder media liquidity M&A re-occurring streams value company position to Fragmented small-cap revenue & Diversity among creators play offense media landscape
Slide 7: Thunderbird Entertainment
Recognizable IP produced for the world’s leading studios, Recent Acquisition (closed Jan. 28, 2026) streamers, and brands Thunderbird Entertainment Strategic and accretive acquisition ● $88M, paid in cash and shares ● Adds ~6 million SVS to Blue Ant’s trading float ● FY20251 Revenue of $186M & Adjust
Slide 8: At a Glance
Blue Ant Media (TSX: BAMI) At a Glance Streamer Producer Distributor Own and operate paid & free Produce owned content and service Distribute owned and third-party streaming channels produce content for streamers and content to streamers and Ad sales business broadcasters globally broadcasters globa
Slide 9: Market Overview
2 Market Overview Investor Presentation | July 2026 9
Slide 10: TV Consumption is as Strong as Ever
TV Consumption is as Strong as Ever Total engagement with TV viewing remains strong, highlighting endurance and diversified platform growth led by streaming Video consumption remains strong Where consumers are watching is changing Hours spent weekly watching TV by Share of U.S. TV viewing, January 20
Slide 11: Global Streaming
Global Streaming Global streaming is expanding rapidly across subscription and ad-supported models, creating multiple high-growth pathways for diversified companies like Blue Ant The global streaming market (e.g. Netflix, Amazon Prime, Disney+, YouTube, etc.) is projected to grow from USD$129.26 billi
Slide 12: Smart TV
Smart TV As viewing shifts to Smart TVs, advertisers follow, fueling a dynamic and fast-growing revenue stream ● Smart TVs (internet connected TVs or CTVs), will make up over half of the time spent with digital video, surpassing mobile and desktop video combined1 ● 90% of U.S. households have a smar
Slide 13: The Investment Opportunity
3 The Investment Opportunity Investor Presentation | July 2026 13
Slide 14: Market Overview: An Industry in Flux = Ample Opportunity
Market Overview: An Industry in Flux = Ample Opportunity Headwinds Our Edge ● The media sector has been in transition from the ● Strong balance sheet with surplus cash and undrawn ‘peak tv’ era starting in the 2010s including linear credit capacity to support growth decline, streaming dominance, and
Slide 15: Controlling Content = Multiple Methods of Monetization
Controlling Content = Multiple Methods of Monetization Our content IP model unlocks multiple, re-occurring revenue streams across global platforms Licensing ● Sell content to hundreds of streamers and broadcasters internationally in multiple windows and territories Acquire Monetize IP and catalogue
Slide 16: Monetization Opportunities: Our Global Customers
Monetization Opportunities: Our Global Customers North America International Licensing Acquire Monetize IP North America International and catalogue in Subscriptions Produce multiple ways Content simultaneously Advertising North America and International Investor Presentation | July 2026 16
Slide 17: Reporting Segments: Global Channels & Streaming
Reporting Segments: Global Channels & Streaming Subscription & Advertising Advertising Smart TV Ad Sales ● Blue Ant distributes channels across platforms in 100+ countries ● We operate streaming and broadcast platforms (including SVOD, digital, YouTube, Pay TV, etc.) ● Media Pulse, our Smart TV ad s
Slide 18: Reporting Segments: Production and Distribution
Reporting Segments: Production and Distribution For streamers and broadcasters internationally, we: ● Produce content that we own ● Produce content owned by third-parties ● License owned and third-party content ● Operate across genres with a specialization in the ownership of lower cost, lower risk,
Slide 19: Reporting Segments: Canadian Media
Reporting Segments: Canadian Media Pay TV Channels Consumer Shows ● We own and operate 7 Pay TV channels in targeted genres ● We own and operate live event consumer shows catered to targeted audiences with content tie-ins to Canadian and global channels ● We monetize through channel subscription fee
Slide 20: Our Model at Work: Love Nature
Our Model at Work: Love Nature Monetize Across Multiple Platforms ● Commission, produce and own original content 95% ● Evergreen content that travels well internationally Owned ● Distribute the channel globally as free Content streaming, pay channel, or branded block ● Distribute content to other st
Slide 21: Our Model at Work: The Mike Holmes Catalogue
Our Model at Work: The Mike Holmes Catalogue Overview Acquired Mike Holmes content catalogue in 275 ● 2023 ● Recognizable, evergreen content that travels well Hours internationally of Owned ● Monetize library across multiple platforms: ○ Sell to streamers and broadcasters globally Content ○ Marquee
Slide 22: Multi-Faceted Business that Performs in Challenging Sector Times
Multi-Faceted Blue Ant Revenues & Thunderbird Revenues & Adj. EBITDA $M Adj. EBITDA $M Business that Performs in Production & Distribution Thunderbird Challenging (Production & Distribution) Canadian Media Sector Times Global Channels & Streaming 196 204 186 169 167 165 Blue Ant Only 149 136 18% Rev
Slide 23: Capital Markets Summary
Capital Markets Summary Founded in 2011 Went public August 1, 2025 via RTO Acquired Thunderbird Entertainment *Trading before August 1 reflective of old public vehicle (formerly TSXV: TBRD, OTCQX: THBRF) Share Consideration to 5,857,979 Trading Symbol: TSX: BAMI TBRD Shareholders: Recent Price1: $5.
Slide 24: Strong Balance Sheet with Low Leverage
Strong Balance Sheet with Low Leverage Applied In Q3, received contribution to $34.7M capital recent credit facility $59.9M Cash as of contribution as draw used to fund Q3 2026 part of the RTO1 Thunderbird acquisition 1. Pursuant to a Value Assurance Agreement dated March 23, 2025, between (among ot
Slide 25: Our Growth Strategies
4 Our Growth Strategies Investor Presentation | July 2026 25
Slide 26: Going Forward: Organic Growth
Going Forward: Organic Growth Launch new global Expand digital strategy (ad sales, free streaming brands across channels) outside of multiple platforms North America and on new platforms Growth Drivers Scale streaming ad Increase content sales (via Smart TVs) production for owned with more inventory
Slide 27: Going Forward: Focused on Growth by M&A
Going Forward: Focused on Growth by M&A Pipeline of opportunities at Our Focus: attractive valuations Canadian Media-Adjacent as over-leveraged Media Sectors and sub-scale Studios New live event competitors are consumer shows challenged by Channels & Production capacity market conditions Streaming P
Slide 28: M&A Target Characteristics
M&A Target Characteristics Synergies Scale M&A Target Strategic IP Fit Investor Presentation | July 2026 28
Slide 29: Thunderbird Acquisition, Jan. 28, 2026
Thunderbird Synergies Scale Acquisition, Expect to realize cost synergies of $7 million in Increases earnings and cash flow Jan. 28, 2026 the first 12 months Enhances public trading Aligns with Exploring additional optimization opportunities float and capital markets profile M&A Target Attributes Strate
Slide 30: MagellanTV Acquisition, Oct. 2, 2025
MagellanTV Synergies Scale Acquisition, Operational efficiencies Accelerates international growth Oct. 2, 2025 Improves margins Expands monetization Aligns with through adding owned IP channels M&A Target Cross-promotion opportunities Adds streaming platforms Attributes Strategic Fit IP Extends Blue A
Slide 31: Demonstrated Ability to Create and Harvest Value
Demonstrated Ability to Create and Harvest Value Case Study: Omnia Media ● Blue Ant acquired minority stake in Omnia Media, a music-focused YouTube multi-channel network (MCN) in 2013 and full ownership in 2016 ● Under Blue Ant, Omnia developed into North America’s largest ● global gaming content ne
Slide 32: Our Team
5 Our Team Investor Presentation | July 2026 32
Slide 33: Leadership With a Proven Track Record of Building Media Businesses
Leadership With a Proven Track Record of Building Media Businesses Shareholder Return Production Distribution Broadcasting ~$0.7B ~$2.3B Shareholders’ Equity Equity Value Atlantis Films co-founded by Michael MacMillan, now Blue Ant CEO Received Built a global media company from a small film and TV pr
Slide 34: Leadership
Leadership Michael MacMillan Robb Chase Jamie Schouela Astrid Zimmer Dervla Kelly Surani Adamesco Co-Founder, CEO & CFO & Director COO Chief Legal Officer Chief Marketing and Chief Technology Director Comms Officer Officer Blue Ant’s former COO and Previously served as President, Has been with Blue
Slide 35: Board of Directors
Board of Directors Robb Chase Lisa Hsia Ellis Jacob Kevin Johnson Lisa Knutson David Lazzarato CFO & Director Director Director Director Director Director Blue Ant Media’s CFO and Former Executive Vice CEO of Cineplex CEO, GroupM Canada and Now retired, former COO and Chair of Canopy Growth. former
Slide 36: Summary
6 Summary Investor Presentation | July 2026 36
Slide 37: Investment Highlights
Investment Highlights A Modern Media Company for an Evolving Industry Profitable, Very strong Opportunistic Model Diverse Proven growing cash & time for derives revenue shareholder media liquidity sector M&A re-occurring streams value company position to revenue & creators play offense strong cash a
Slide 38: Appendix: Select Blue Ant Financials Pre-Thunderbird
7 Appendix Select Blue Ant Financials Pre-Thunderbird Investor Presentation | July 2026 38
Slide 39: Blue Ant Financial Summary
Blue Ant Financial Summary $M F2020 F2021 F2022 F2023 F2024 F2025 Strong growth through challenging industry Revenues1 conditions Global Channels and Streaming Production and Distribution 14 28 16 32 30 52 48 63 56 73 76 67 Canadian Media 54 60 67 73 67 61 o Consistent revenue growth from Inter-segm
Slide 40: Blue Ant Financial Summary - Q3 2026
Blue Ant Financial Summary - Q3 2026 3 months ended May 31 Change 9 months ended May 31 Change M$ 2026 2025 $ % 2026 2025 $ % Revenues Global Channels and Streaming 23,669 21,161 2,508 12% 68,450 59,628 8,822 15% Canadian Media 19,297 21,985 (2,688) (12%) 44,157 49,676 (5,519) (11%) Production and D
Slide 41: Blue Ant Reconciliation of Adjusted EBITDA to Net Income (Q3 2026)
Blue Ant Reconciliation of Adjusted EBITDA to Net Income (Q3 2026) 3 months ended May 31 9 months ended May 31 [1] Non-cash expenses associated with share-based compensation granted to certain officers, directors and employees. $Thousands 2026 2025 2026 2025 [2] Impairment of certain program rights an
Slide 42: Appendix: Select Thunderbird Financials
7 Appendix Select Thunderbird Financials Investor Presentation | July 2026 42
Slide 43: Thunderbird Financial Summary
Thunderbird Financial Summary $M F2020 F2021 F2022 F2023 F2024 F2025 Q1 2026 Revenue 81 112 149 167 165 186 Ended September 30, 2025 EBITDA 15 18 18 9 14 17 o Revenue: $36.8M Adjusted EBITDA 15 20 20 13 17 18 o Adjusted EBITDA: $1.4M1 Net Income (loss) 3 6 4 (5) 6 2 o Net loss: $0.5M Net cash provid
Slide 44: Thunderbird Reconciliation of Adjusted EBITDA to Net Income (Q1 2026)
Thunderbird Reconciliation of Adjusted EBITDA to Net Income (Q1 2026) Year ended June 30 3 months ended Sept 30 $Thousands 2025 2024 2025 2024 Net income for the period 6,321 2,387 531 1,581 Income tax expense 1,892 930 395 1,198 Deferred income tax expense (recovery) 728 431 (482) (797) Finance cos
Slide 45: Thank you
Thank you TSX: BAMI Investor Presentation | July 2026