ErosSTX Provides Update on Guidance, Strategic Priorities and Other Matters; Hosting Conference Call to Discuss Key Highlights: • Hosting a conference call and webcast on November 4, 2020 at 4:30pm EST to discuss our recent SEC filings, updated forward-looking financial guidance and near-term strategic priorities. • ErosSTX expects for fiscal 2022 (ending March 31, 2022) revenue of approximately $800 million, and a high single-digit EBITDA margin1 . • ErosSTX expects for fiscal 2023 (ending March 31, 2023) revenue growth of at least 20% year-over- year to over $1.0 billion, and that over 50% of fiscal 2023 revenue will be derived from digital content distribution and platforms. ErosSTX expects fiscal 2023 operating cash flow will be approximately $100 million, as incremental margins and cash conversion will meaningfully increase as revenue increases. Management is focused on six strategic imperatives to drive shareholder value: (1) Enhance balance sheet and operating cash flow, (2) Streamline ESGC corporate structure, (3) Fully monetize Eros Now streaming platform, (4) Drive growth in total company revenue, net income and EBITDA1, (5) Form strategic partnerships, and (6) Enhance investor communications. Douglas, ISLE OF MAN anD Burbank, CALIFORNIA, November 2, 2020 – Eros STX Global Corporation (NYSE: ESGC) (“ErosSTX”), a global entertainment company, recently filed a transition 20-F report containing a qualitative discussion of the legacy business of STX Entertainment (“STX”), as well as legacy STX historical financial statements in US GAAP. Additionally, the company filed a form 6-K with the SEC including more information on such STX financial information presented in the transition Form 20-F and providing forward- looking guidance. Lastly, the company is providing an update on its strategic priorities imperatives and financial reporting calendar. Legacy STX Historical Financials Filed in Transition Form 20-F The company filed a transition Form 20-F last week with the SEC that contains a qualitative discussion of legacy STX financial results, in addition to the legacy Eros International Plc (“Eros”) financial results that were first disclosed in Eros’ Form 20-F filed on July 30, 2020. The transition 20-F also includes legacy STX audited US GAAP financial statements for the 6-month period ending March 31, 2020 and comparable period ending March 31, 2019 (un-audited), as well as legacy STX audited US GAAP financial statements for the 12-month period 1 EBITDA and EBITDA margin are financial measures calculated other than in accordance with US GAAP. The Company believes that these measures provides useful information to investors and others in understanding and evaluating its consolidated results of operations and financial position, as applicable, in the same manner as they help our management. However, the Company’s presentation of these measures may not be comparable to similarly titled measures presented by other companies. The use of these non- GAAP measures has limitations as an analytical tool, and they should not be considered in isolation from, or as substitute for analysis of, results of operations or financial condition as reported under GAAP. For more information on these non-GAAP measures, including how we calculate these measures and a reconciliation to the most directly comparable US GAAP measure, please refer to the reconciliation at the end of this release and in the Company’s recently filed Form 20-F. 1 ending September 30, 2019, with two comparable prior annual periods. STX focuses on co-production, acquisition and distribution of a diverse portfolio of films each year. Most films in the STX slate meet the following criteria: (1) a production budget of $5-$50 million, (2) one or more stars in signature roles, (3) a theatrical release in the US with a substantially concurrent global release through the company’s global distribution network, or a theatrical/PVOD/streaming strategy when appropriate, and (4) a financing structure designed to mitigate the company’s equity risk exposure through a combination of tax incentives and international license agreements to minimize production costs. STX seeks to structure its international license agreements so that each film will recover no less than the minimum guaranteed license fees under such agreements. Tax incentives, where available, mitigate the overall net production cost required to complete such films. Consequently, this financing strategy seeks to minimize the downside, while retaining a significant interest in the revenue that the films may generate. STX also employs slate and co-financing on a film- by-film basis to mitigate downside risk. Additionally, STX develops and produces or co-produces scripted and unscripted TV programming that is licensed to various TV and streaming platforms. STX actively seeks opportunities to develop TV content that is complementary to content on its other platforms. STX uses a unique capital-efficient model for managing external environment risks, such as COVId-19 impact on its theatrical business. Additionally, the film marketing strategy of STX uses first-party data for audience targeting in an attempt to maximize the effectiveness of dollars spent, and targets box office performance that is similar to peer films but with less marketing expense than peer films. The STX historical financial statements included in the transition Form 20-F show that in fiscal 2017-19 legacy STX had a net loss and EBITDA1 loss and operating cash flow, reflecting its investment in content production and its growing content library. Under US GAAP, STX is required to expense in the income statement marketing and distribution costs upon release but amortize production expenses to match the first cycle revenue window for each film. Accordingly, like other film studios that report in US GAAP, STX booked greater expenses relative to projected future revenue as it was ramping its production and distribution. As the content library scales, ErosSTX expects the net loss, EBITDA1 and operating cash flow of the STX business to improve. To this point, the most recently audited results published in the transition Form 20-F for the 6-montHs ending March 31, 2020 show a narrowing of the net loss and EBITDA1 loss year-on-year and positive operating cash flow. Net loss improved from $42.6 million in the 6-months ending March 31, 2019 to $26.1 million in the 6- months ending March 31, 2020 and EBITDA1 improved from negative $29.5 million in the 6-months ending March 31, 2019 to negative $14.3 million in the 6-months ending March 31, 2020. Operating cash flow improved from negative $133.9 million in the 6-montHs ending March 31, 2019 to positive $10.3 million in the 6-months ending March 31, 2020. ErosSTX believes the STX business is now at a financial inflection point of realizing the sustainable benefits of a well-established film library, while continuing to invest in long-lived content ownership and revenue growth. Six Strategic Imperatives to Drive ShareholDer Value Co-Chairman and CEO, Robert Simonds, commented on the company’s near-term priorities and the current operating environment: “We are outlining for shareholders the six strategic imperatives that guide our management of the company; these priorities serve as our beacon and we believe will drive shareholder value. We are confident that we will 2 show progress on these items in the coming quarters, and we expect shareholders to evaluate the company based on our progress. While the current operating environment remains challenging and uncertain due to the COVID- 19 pandemic, I am very proud of the company’s response. With STX films, such as My Spy, Horizon Line and Greenland, we quickly adapted our U.S. distribution model from theatrical to a combination of premium video- on-demand and streaming, and with what we believe are ROIs that are comparable to or higher than our original greenlight budget. In the case of Greenland, we still released the film in international theatres and the film debuted at #1 in 22 countries. This approach demonstrates that the STX star-driven films have the opportunity to thrive no matter the distribution model. At Eros Now, our global Indian-language streaming OTT platform, paid subscriber growth continues to set records, with fiscal 2Q21 showing the fastest quarterly growth since inception. Additionally, we are now using the full weight of our Eros production capabilities to deliver fresh content to Eros Now, which we believe will drive future subscriber growth. All of this gives me great confidence in the company’s future, irrespective of the pandemic and the recovery in global box office demand.” The ErosSTX management team is focused on six strategic priorities to drive shareholder value: 1) Enhance balance sheet anD operating cash flow: The company intends to recapitalize its global debt structure, extending debt maturities and simplifying the capital structure. The company seeks to improve its cash conversion and visibility by implementing improved financial and operational controls. 2) Streamline the ESGC corporate structure: To enhance ESGC shareholder value, the company will evaluate its corporate structure, including a review of the Eros International Media Limited (EIML) listing on the Indian Stock Exchanges, BSE and NSE. 3) Fully monetize Eros Now streaming platform: The company intends to drive revenue, earnings and EBITDA growth by (1) accelerating long-term subscriber growth, (2) driving higher average revenue per user by enhancing direct-to-consumer global