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FNC ADD CULTURE INVESTOR RELATIONS Investment Points FNC Ent. INVESTOR RELATIONS 2017 Disclaimer The 2016 data together with the 2015 data presented in this material have been compiled based on the consolidated financial statements under K-IFRS. Some of the data are the closing data that have not been audited by an external auditor and are provided in this material for your convenience only. For this reason, the content of this material is subject to change reflecting the results of an external audit. Also, please be noted that the data regarding the business management outlook has been only prepared based on FNC Entertainment's internal market projections and analyses of the business environment; thus, there may be discrepancies between the data in this material and the actual business performances due to changes in the business environment and conditions. You, as a prospective investor, should not make investment decisions solely based on the projections, forecasts and outlooks provided in this material given that you are solely accountable for your investment decisions. FNC Entertainment Contents. Chapter 01 Company Overview 1. Company Overview 2. Main Businesses Chapter 02 Investment Highlights 1. Industry Outlook 2. Performance Summary 3. Sales Composition 4. Business Roadmap [Appendix] Summarized Consolidated Financial Statement FNC Entertainment Chapter 01 Company Overview 1. Company Overview 2. Main Businesses Chapter 01 Company Overview 1. Company Overview Company Overview Equity Structure (2016.12.31) Largest . Company name: FNC Entertainment Co.,Ltd. Total issued stocks: 14,364,880 Others 38% shareholder, etc. Date of establishment: December 14, 2006 . Largest shareholders, etc.: 34% 34% . Date of company listed: December 4, 2014 (CEO Han Seong-ho, etc.) . CEO: Han Seong-ho . Suning Universal Media: 22% Treasury . Employees: 265 . Loen Entertainment: 4.5% 1% Suning Loen 22% . Address: 46, Dosan-daero 85-gil, Gangnam-gu, Seoul . Treasury stock: 1% 4.5% Subsidiaries and Affiliates FNC Music Japan FNC Academy FNC Add Culture Shanghai Hongyi Entertainment (JV) . Equity structure: FNC Ent. 100% . Equity structure: FNC Ent. 100% . Equity structure: FNC Ent. 46% . Equity structure: FNC Ent. 49%, . Planning, production of records . Discovering new entertainers, . Video Contents Production Suning Universal Media 51% and concerts in Japan education for students . Drama, TV show production, . Concerts in China, majoring in practical music special press Entertainer management, etc. 5 Chapter 01 Company Overview 2. Main Businesses Music . In/external producers and composers . One-stop system from training to recording . Overseas concert management through subsidiary . Specialized entertainer training system with FNC Academy Management . Expansion of A-list actors and variety show host line ups . Increased casting of the entertainers in TV shows and advertising . Prominent management manpower and network . Expanding into China and other Asian countries Media Contents Production . Get started making media contents through our subsidiary, FNC ADD CULTURE . Capacity to produce dramas and variety shows . Various experiences in producing media contents(Drama, TV Show program, etc.) . Synergy with the entertainer management business 6 FNC Entertainment Chapter 02 Investment Highlights 1. Industry Outlook 2. Performance Summary 3. Sales Composition 4. Business Roadmap [Appendix] Summarized Consolidated Financial Statement Chapter 02 Investment Highlights 1. Industry Outlook − Music market in Japan is the second biggest market in the world but growth rate is slowdown − Music and broadcasting market in China continues to grow with China’s fast economic development Music Market in Japan Music Market in China Broadcasting Market in Asia (USD mil) Concert Digital Music Records (USD mil) Concert Digital Music Records (USD mil) Korea China Japan 30,000 5,000 5,000 25,000 4,000 4,000 20,000 3,000 3,000 15,000 2,000 2,000 10,000 1,000 1,000 5,000 0 0 - 2015 2016 2017 2018 2019 2020 2015 2016 2017 2018 2019 2020 2013 2014 2015 *Source: PWC, KOCCA (2016) *Source: PWC, KOCCA (2016) *Source: PWC, KOCCA (2016) 8 Chapter 02 Investment Highlights 2. Performance Summary – Continued external growth with CAGR of 23.4% in sales since 2014 – Reduced operating income reflecting the investment expenses incurred from contract of famous entertainers and new businesses(media contents production) from 2015 Sales Operating Income(Loss) Profit(Loss) (KRW 100 mil) (KRW 100 mil) (KRW 100 mil) 1,000 140 140 CAGR 23.4% 914 120 116 120 800 723 100 100 601 600 79 80 80 59 60 60 400 40 40 22 200 20 20 -25 -63 0 0 0 (20) (20) 2014 2015 2016 2014 2015 2016 2014 2015 2016 9 Chapter 02 Investment Highlights 3. Sales Composition − Change of sales composition driven by diversified business portfolio and entertainer line-ups − Increased domestic sales resulted from expanded management activities and media contents production Sales Composition by Business Sales Composition by Country Sales Composition by Entertainer Print (KRW 100 mil) (KRW 100 mil) Japan Korea China Others (KRW 100 mil) Singer Actor Show host Others 1,000 Media contents production Management 1,000 1,000 Music 800 800 800 5% 5% 8% 7% 4% 600 5% 1% 5% 600 600 5% 5% 30% 35% 26% 32% 400 400 400 70% 60% 64% 56% 94% 83% 200 200 200 0 0 0 2014 2015 2016 2014 2015 2016 2014 2015 2016 10 Chapter 02 Investment Highlights 4. Business Roadmap − Sustainable profits through a diversified business portfolio and continuous development Music FTISLAND & CNBLUE’s Concerts N.Flying’s Debut N.Flying’s Concerts SF9’s Debut SF9’s Concerts Girl Group’s Debut Boy Band Group’s Debut Boy Dance Group’s Debut in China Management FTISLAND & CNBLUE’s Management AOA’s Management Signing on Actors Management of Actors Signing on Management of TV Show Hosts TV Show Host Media Contents Preparation for Acquisition of Drama Production Drama Production FNC Add Culture Drama Production Preparation for TV Show Production TV Shows Production 2014 2015 2016 2017 2018 11 FNC Entertainment [Appendix] Consolidated Financial Statements Statement of Financial position Income Statement (KRW million) (KRW million) Item 2016 2015 2014 Item 2016 2015 2014 Current Assets 83,642 86,301 65,273 Sales 91,417 72,671 60,072 ∙ Cash and cash equivalents 21,165 55,870 19,177 ∙ Cost of sales 76,347 55,035 39,673 ∙ Inventories 1,010 740 762 ∙ Other Current Assets 61,467 29,691 45,334 ∙ Gross Profit 15,070 17,636 20,399 Non-current Assets 50,408 23,810 11,107 ∙ Selling General 17,588 11,726 8,817 ∙ Tangible Assets 17,971 4,875 4,842 Administrative Expenses ∙ Intangible Assets 20,232 11,608 3,595 Operating Income(Loss) (2,518) 5,910 11,582 ∙ Other Non-current Assets 12,205 7,327 2,670 ∙ Other Gains 596 518 690 Total Assets 134,050 110,112 76,380 Current Liabilities 23,996 20,875 18,894 ∙ Other Losses 2,827 1,785 456 Non-Current Liabilities 3,910 2,625 1,624 Total Liabilities 27,906 23,500 20,518 ∙ Finance Income 727 704 242 ∙ Issued Capital 7,182 7,182 3,152 ∙ Finance Costs 4 12 19 ∙ Capital Surplus 67,711 67,711 38,716 ∙ Accumulated Other (3,664) (1,373) (1,769) Profit(Loss) before Tax (4,026) 5,335 12,038 Comprehensive Income(Loss) ∙ Retained Earnings 6,657 13,092 15,763 ∙ Income Tax Expense 2,314 3,085 4,174 ∙ Non-controlling Interests 28,257 - - Profit(Loss) (6,340) 2,249 7,864 Total Equity 106,144 86,612 55,862 ※ Based on consolidated financial statements 12 FNC ADD CULTURE INVESTOR RELATIONS 2017 DISCLAIMER The 2016 data together with the 2015 data presented in this material have been compiled based on the consolidated financial statements under K-IFRS. Some of the data are the closing data that have not been audited by an external auditor and are provided in this material for your convenience only. For this reason, the content of this material is subject to change reflecting the results of an external audit. Also, please be noted that the data regarding the business management outlook has been only prepared based on FNC Entertainment's internal market projections and analyses of the business environment; thus, there may be discrepancies between the data in this material and the actual business performances due to changes in the business environment and conditions. You, as a prospective investor, should not make investment decisions solely based on the projections, forecasts and outlooks provided in this material given that you are solely accountable for your investment decisions. CONTENTS Chapter 01 General Overview Chapter 02 Investment Points [Appendix] FNC ADD CULTURE INVESTOR RELATIONS Chapter 01 General Overview 1. Company Overview 2. History 3. Businesses 4. Financial Highlights Chapter 01 Company Overview Chapter 01 1. Company Overview C o m p a n y O v e r v i e w Company Profile Company name FNC ADD CULTURE CO.,LTD. CEO Joon Ahn Date of 1998.01 Paid-in capital KRW 19.5 billion Establishment Date of Company 2002.05 (063440) Employees 83(2016.12) Listed on KOSDAQ Business Drama〮 TV Variety show Production, Publication Printing, Media Contents (DVD, Blu-ray, MD) • Headquarter: 376, Jikji Gil, Paju, Gyeonggi-Do, South Korea Address • ChungDam: 54, 79Gil, Appgujungro, Gangnam, Seoul, South Korea • SangAm: 6th Floor, DMS, 12, 54Gil, WorldCupBukro, Mapo, Seoul, South Korea Homepage http://www.fncadc.com/ CEO Profile Equity Structure (2016.12) FNC President Joon Ahn Entertainment 30.30% Total issued . Music Technology, NYU, MA stocks . Warner Music Korea, Vice President (2007) Others 52.63% 38,307,875 . CJ E&M Music Division, General Manager (2009) Han Seong-ho, . CJ E&M Music Division, President (2012~2016) etc. FNC ADD CULTURE, President (2016~) Treasury stock 16.49% 0.57% 17 Chapter 01 Company Overview Chapter 01 2. History Company Overview • Drama and TV Variety show(Non-Scripted Format) production department was transferred in 2016 from FNC Ent.
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