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Q2 2015 Investor Presentation As of June 30, 2015 Cautionary Statements Statement Regarding Forward-Looking Statements This presentation contains “forward-looking statements” within the meaning of U.S. federal securities laws. All statements contained in this presentation other than statements of historical facts are forward-looking statements. Words such as “might,” “will,” “may,” “should,” “estimates,” “expects,” “continues,” “contemplates,” “anticipates,” “projects,” “plans,” “potential,” “predicts,” “intends,” “believes,” “forecasts,” “future” and variations of such words or similar expressions are intended to identify forward-looking statements. Forward-looking statements are not historical facts, and are based upon management’s current expectations, beliefs, estimates and projections, and various assumptions, many of which are inherently uncertain and beyond our control. Such expectations, beliefs, estimates and projections are expressed in good faith and management believes there is a reasonable basis for them. However, there can be no assurance that management’s expectations, beliefs, estimates and projections will be achieved and actual results may differ materially from what is expressed in or indicated by the forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the forward-looking statements, including risks detailed in SeaWorld Entertainment, Inc.’s (“SeaWorld” or the “Company”) 2014 Annual Report on Form 10-K as filed with the U.S. Securities and Exchange Commission (the “SEC”), as such risk factors may be updated from time to time in our periodic filings with the SEC. Forward-looking statements speak only as of the date the statements are made. The Company assumes no obligation to update forward-looking statements to reflect actual results, subsequent events or circumstances or other changes affecting forward-looking information except to the extent required by applicable securities laws. Statement Regarding Non-GAAP Financial Measures This presentation includes several metrics which are not calculated in accordance with the generally accepted accounting principles in the United States (“GAAP”), including Adjusted EBITDA, Free Cash Flow and Adjusted Free Cash Flow. These metrics have important limitations and should not be considered in isolation or as a substitute for measures of the Company’s financial performance or liquidity prepared in accordance with GAAP. In addition, these metrics, as presented by the Company, may not be comparable to similarly titled measures of other companies due to varying methods of calculations. Adjusted EBITDA is defined as net income (loss) before interest expense, income tax expense (benefit), depreciation and amortization, as further adjusted to exclude certain unusual, non-cash and other items permitted in calculating covenant compliance under the credit agreement governing the Company’s senior secured credit facilities. The Company believes that the presentation of Adjusted EBITDA is appropriate to provide additional information to investors about the calculation of, and compliance with, certain financial covenants in the credit agreement. Adjusted EBITDA is a material component of these covenants. The Company also uses Adjusted EBITDA in connection with certain components of its executive compensation program. In addition, investors, lenders, financial analysts and rating agencies have historically used EBITDA-related measures in the Company’s theme park and entertainment industry, along with other measures to evaluate the Company’s ability to meet its debt service requirement, to estimate the value of a company and to make informed investment decisions. Free Cash Flow is defined as net cash provided by operating activities reduced by capital expenditures. Adjusted Free Cash Flow is defined as Free Cash Flow reduced by the one-time cash payment of the 2009 Advisory Agreement termination fee. For a reconciliation of Adjusted EBITDA to net income (loss) and Free Cash Flow and Adjusted Free Cash Flow to cash flow from operating activities, please refer to the Appendix in this presentation or our Quarterly Earnings Release, which can be found at our website www.seaworldentertainment.com. Statement Regarding Use of Registered Trademarks The Company owns or has rights to use a number of registered and common law trademarks, service marks and trade names in connection with its business in the United States and in certain foreign jurisdictions, including SeaWorld Entertainment, SeaWorld Parks & Entertainment, SeaWorld®, Shamu®, Busch Gardens®, Aquatica™, Discovery Cove®, Sea Rescue™, and other names and marks that identify our theme parks, characters, rides, attractions and other businesses. In addition, the Company has certain rights to use Sesame Street® marks, characters and related indicia through certain license agreements with Sesame Workshop (f/k/a Children’s Television Workshop). Solely for convenience, trademarks, service marks and trade names referred to in this presentation may be without the ® and ™ symbols, but such references are not intended to indicate, in any way, that the Company will not assert, to the fullest extent under applicable law, its rights or the rights of the applicable licensors to these trademarks, service marks, and trade names. 2 Company Overview & Investment Highlights 3 A Leading Theme Park and Entertainment Company We inspire people, through the power of entertainment, to celebrate, connect with and care for the natural world we share. 4 4 More than 50 Years of Operations Sea Rescue Busch Gardens premieres; Tampa opens as Acquisition of an extension of Knott’s Soak the Tampa Anheuser-Busch City in Chula brewery tour SeaWorld Sesame Place acquires Aquatica Orlando Orlando opens opens SeaWorld parks opens Vista, Calif. 1959 1964 1973 1975 1980 1988 1989 2000 2008 2009 2012 2013 SeaWorld Busch Gardens SeaWorld San Discovery Cove Acquisition by SEAS begins San Diego opens Williamsburg Antonio opens opens The Blackstone trading on opens Group NYSE; Aquatica San Diego opens; The Wildlife Docs premieres 5 SeaWorld Entertainment, Inc. At a Glance… Operations • 11 parks in 5 states • 4 of top 20 theme parks by attendance in North America1 • Over 50 year operating history • Approximately 89,000 animals2 • Over 600 rides and attractions2 • Approximately 2,000 acres of owned land, with nearly 400 acres available for future development3 2015 LTM Results4 SeaWorld’s Differentiation • 22.5 million in Attendance • Large scale parks • $1,367 million of Revenue • Located in key markets: warm weather, sizable • $355 million of Adjusted EBITDA local populations, tourist destinations • $126 million of Free Cash Flow • Park clusters in 5 of 6 markets • Distinct zoological collection • Strong brands and intellectual property 1 Source: Theme Index: The Global Attractions Attendance Report TEA / AECOM, 2015. 2 As of the year ended December 31, 2014. 3 Developable land defined as unimproved acreage outside park perimeter, including unpaved guest parking lots but excluding paved parking lots. 6 4 2015 LTM results represent latest twelve months through June 30, 2015. Investment Highlights Globally Recognized Parks, Brands and Intellectual Property Well-Capitalized Parks Positioned for Sustained Growth Diversified Revenue Base Strong Free Cash Flow Generation Continued Growth Opportunities Experienced and Execution–Focused Management Team 7 Globally Recognized Parks, Brands and Intellectual Property Strong Brands and Intellectual Property Drive Value • Differentiated brands and intellectual property (IP) – Drives attendance – Enhances guest experience – Creates monetizable value in and out of parks • Demonstrated ability to create new IP • Opportunity to leverage owned brands and IP across multiple platforms • Brands that transcend cultures • Library of IP includes more than1: – 200 brands & marks – 700 active U.S. trademarks – 400 foreign trademark registrations in more than 60 countries 8 1 As of the year ended December 31, 2014. Among the World’s Largest Zoological Collections Inspiring Guests to Care for the Natural World through Up-Close Animal Experiences • One-of-a-kind zoological collection of approximately 89,000 marine and terrestrial animals1 • More than 80% of our marine mammals were born in human care1 • Successful and innovative breeding programs that have produced 32 killer whales, 165 dolphins and 148 sea lions, among other species1 • Our marine animal populations are characterized by their substantial genetic diversity • One of the world’s largest penguin populations 9 1 As of the year ended December 31, 2014. Care for Our Community and the Natural World We Share A Global Leader in Animal Husbandry, Veterinary Care, Enrichment and Animal Behavior • More than 1,500 employees dedicated to the welfare, enrichment, husbandry and veterinary care of our animals1 • In collaboration with the government and other accredited stranding networks, we operate one of the world’s most respected programs to rescue ill and injured marine animals, with the goal to rehabilitate and return them back to the wild • Our animal experts have helped more than 26,000 ill, injured, orphaned and abandoned animals for more than four decades2 • We contribute to wildlife research, habitat protection, animal rescue and conservation education through the SeaWorld & Busch Gardens Conservation Fund and other environmental organizations 1 As of the year ended