GPN Investment Overview REV 2 2017 FINAL.Key

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GRAND PRIX NETWORK

BUSINESS PLAN & INVESTMENT OVERVIEW - FALL 2016

GRAND PRIX RUGBY FOOTBALL LEAGUE

and offering Founding Franchises in

LOS ANGELES - CHICAGO EXCLUSIVELY SANCTIONED DALLAS - NEW YORK

Proprietary & Conﬁdential. All Rights Reserved. GRAND PRIX NETWORKS THIS CONFIDENTIAL EXECUTIVE SUMMARY (“SUMMARY”) IS NOT AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY SECURITIES. ANY OFFER TO SELL SECURITIES SHALL BE MADE IN COMPLIANCE WITH THE APPLICABLE FEDERAL AND STATE SECURITIES LAWS. ANY OFFER TO SELL SECURITIES ALSO WILL BE ACCOMPANIED BY A PRIVATE PLACEMENT MEMORANDUM. IN THE EVENT THAT DESCRIPTIONS OR TERMS IN THIS SUMMARY ARE INCONSISTENT WITH OR CONTRARY TO THE DESCRIPTION IN OR TERMS OF A GRAND PRIX NETWORKS, LLC. (“GPN”) PRIVATE PLACEMENT MEMORANDUM, SUCH PRIVATE PLACEMENT MEMORANDUM SHALL CONTROL.

THIS SUMMARY IS BEING FURNISHED ON A CONFIDENTIAL BASIS TO A LIMITED NUMBER OF SOPHISTICATED INVESTORS FOR THE PURPOSE OF PROVIDING CERTAIN INFORMATION ABOUT A POTENTIAL INVESTMENT IN CERTAIN DEBT AND EQUITY SECURITIES THAT MAY BE OFFERED BY GPN. THE INFORMATION CONTAINED HEREIN MAY NOT BE REPRODUCED, PROVIDED LEGAL OR DISCLOSED TO OTHERS OR USED IN WHOLE OR IN PART FOR ANY OTHER PURPOSE WITHOUT THE PRIOR WRITTEN AUTHORIZATION OF GPN. THIS SUMMARY SHALL BE RETURNED TO GPN UPON REQUEST. DETAILS SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS. THIS SUMMARY MAY CONTAIN FORWARD-LOOKING STATEMENTS RELATING TO FUTURE EVENTS OR THE FUTURE PERFORMANCE OF GPN. IN SOME CASES, FORWARD-LOOKING STATEMENTS CAN BE IDENTIFIED BY TERMINOLOGY SUCH AS MAY, WILL, SHOULD, EXPECT, PLAN, INTEND, ANTICIPATE, BELIEVE, ESTIMATE, PREDICT, POTENTIAL, OR CONTINUE, THE NEGATIVE OF SUCH TERMS, OR OTHER COMPARABLE TERMINOLOGY. THESE STATEMENTS ARE ONLY PREDICTIONS. ACTUAL EVENTS OR RESULTS MAY DIFFER MATERIALLY. IN EVALUATING THESE STATEMENTS, PROSPECTIVE INVESTORS SHOULD SPECIFICALLY CONSIDER VARIOUS FACTORS. THESE FACTORS MAY CAUSE ACTUAL EVENTS OR RESULTS TO DIFFER MATERIALLY FROM ANY FORWARD-LOOKING STATEMENT. ALTHOUGH GPN BELIEVES THAT THE EXPECTATIONS REFLECTED IN THE FORWARD-LOOKING STATEMENTS ARE REASONABLE, FUTURE RESULTS, LEVELS OF ACTIVITY, PERFORMANCE, OR ACHIEVEMENTS CANNOT BE GUARANTEED. MOREOVER, NEITHER GPN NOR ANY OF ITS AFFILIATES ASSUMES RESPONSIBILITY FOR THE ACCURACY AND COMPLETENESS OF THE FORWARD-LOOKING STATEMENTS. GPN AND ITS AFFILIATES ARE UNDER NO DUTY TO UPDATE ANY OF THE FORWARD-LOOKING STATEMENTS AFTER THE DATE OF THIS SUMMARY TO CONFORM SUCH STATEMENTS TO ACTUAL RESULTS OR TO CHANGES IN EXPECTATIONS.

GRAND PRIX NETWORK

Reggie Bush

Proprietary & Conﬁdential. All Rights Reserved. GRAND PRIX NETWORKS OVERVIEW OF GPN GPN WILL SUCCEED GPN OBJECTIVES A sports entertainment company focused on We are focused on rugby sevens, a format of Short Term partnering with Olympic governing bodies, rugby exploding in popularity across the world showcasing Olympic caliber teams, and and in the 2016 Olympics in Rio de Janeiro. I. Obtain production ﬁnancing to staging Olympic format championships. produce GPN’s launch event in 2018, By launching rugby sevens in the US under an and distribute content over existing live, We successfully acquired our two targeted exclusively sanctioned partnership with the USA broadcast and digital platforms; sports via exclusivity sanctioned partnerships Rugby. with Olympic members USA Rugby and USA II. Generate revenues and build network Volleyball. GPN owns exclusive right to effectively and content equities while establishing professionalize the HSBC World Rugby Sevens and GPN as a world-class production sports GPN will launch the Rugby tour with its its USA Rugby hosted USA Sevens, providing competitive advantages over all potential non content, production and distribution inaugural "Championship Sevens” event in sanctioned competitors company. 2018 showcasing similar World Rugby Union teams as the annual HSBC event in Las Vegas. Long Term This event will showcase World Rugby Union teams, and will expand to 13 championship I. Return GPN Founder’s investments events by 2021. plus preferred returns, generate GPN content via sanctioned professional GPN will then launch the Grand Prix Rugby championship series. Football League (the “RFL") by introducing 4 U.S. teams per year, for at least 4 years, as II. Establish GPN ultimately as an “all- part of GPN’s Rugby phase 2 league project. service” global digital sports network.

Mr. Tatham has successfully negotiated U.S. Exclusive Sanction & License Agreements with Olympic members USA Rugby and USA Volleyball. He is EXPERIENCE experienced in professional sports ownership and management including in family owned franchises: National Basketball Association, Utah Jazz United States Football League, Arizona Outlaws GPN World Football League, & Portland Storm. Mr. Tatham served on USFL Owner Legal and Labor Committees as Owner, FOUNDER President & General Manager, Arizona Outlaws of the USFL (1983-1986) He was also president, Arizonans for NFL Football (1986-1988). Consultant for new and existing professional sports ventures, leagues, franchises and teams re league formation, franchise acquisition and sale, salary cap issues, new media (1989 – 2005 re football, basketball, soccer, hockey, rugby, volleyball)

Mr. Lang is an accomplished executive with nearly 20 years of experience building and managing successful digital media and technology businesses, both domestically and internationally, in a variety of organizational settings from venture-backed start-ups to large media companies. Edward has a relentless passion for delivering compelling consumer experiences across the digital landscape and a EXPERIENCE demonstrated ability to develop, recruit and implement key components and teams for an organization, including strategic planning, product vision and development, business development and distribution, brand development and management, sales and marketing, operational support and ﬁnance.

EXECUTIVE Kevin Wynne, EVP, Chief Sports Ofﬁcer GRAND PRIX SPORTS LLC Chief Executive Ofﬁcer

Kevin Wynne has worked for 25 years in the sports and entertainment industries and is currently President TEAM & Chief Executive Ofﬁcer of NICAL Sports & Media Group, Inc., a consulting ﬁrm he founded in 2004. His experience includes event production and marketing; sponsorships sales and activation; sales of television programming and digital media rights to broadcasters serving over 150 territories; and the negotiation and licensing of television programming for pay-per-view and closed circuit viewing with leading pay television providers around the world including HBO Sports and Showtime Sports.

Rich Rose, EVP, Chief Revenue Ofﬁcer GRAND PRIX GAMING LLC Chief Executive Ofﬁcer

Extensive senior-level experience in the sports and communications fields, with proven history of revenue development and production and successful, innovative problem solving expertise. Have worked in the C-Suite and as media agency owner/partner. Significant achievement in finding opportunities and creating, acquiring and packaging unique, high-profile sports and entertainment events that generate strong seven and eight-figure income. Track record and success in all aspects of sports business and special events.

Bruce Skinner is a highly regarded consultant to Principal at J. L. Brown & Co., a strategic advisory service for business and the special events industry, with vast advanced technology companies. The ﬁrm provides experience. He served as the executive director of the research, counsel and venture acceleration services to Fiesta Bowl in Phoenix, Arizona, (1980-1990) and company founders and investors. Over the past 30 years, Mr. President of the International Festivals and Events Brown has guided the development of new ventures at Kodak Association (1990-2001). He is the author of the book, Corporation, NCR Corporation, Teradata Corporation and The Complete Guide to Selling Event Sponsorship, Xerox Corporation. He has also contributed to the EXPERIENCE published by John Wiley & Sons, Inc., of New York. development of over 100 new ventures through workshops, private counsel, contracted research and interim leadership.

FRONT Karyne Bazzano, Chief Marketing Officer Gino Grajeda, Chief Volleyball Officer Visionary and dynamic president of several profitable AAU West Coast Director & Beach Volleyball Commissioner at companies. Karyne is accomplished in marketing, States, Inc. July 1994 - Present (22 years 3 months) sponsorship, events, importing, real estate and product development including two patented Amateur Athletic Union of the United OFFICE inventions. A quality and results-oriented leader who has built businesses that improve industry practice by West Coast AAU Director, Amateur Athletic Union setting high standards for performance and Commissioner, AAU Beach Volleyball President, Southern empowering employees with a career vision. Pacific Volleyball Committee (SPVC) Commissioner, Interscholastic Beach Volleyball League (IBVL) Secretary General, International School Sport Federation / Americas(ISF) Chairman, Los Angeles ICG Committee - CICG/CJIE (IOC)

Ruth McCartney, Chief Entertainment Ofﬁcer Shawn Gentry, Chief Creative Ofﬁcer

From the earliest days of learning the value of fans by Mr Gentry is a Creative Director with over 20 years of helping with The Beatles fan club management as her experience managing multidisciplinary creative childhood pocket-money job, to today’s Big Data projects in the ﬁelds of Consumer Products, opportunities in e-marketing, to mobile commerce eCommerce, Entertainment, and Finance. He is a and branding, Ruth covers the spectrum of digital seasoned brand builder, from concept through media from past to present. Her technological, execution, a presenter with the ability to create clear entertainment and social media insights have served dynamic messages that align with new trends in her well in the worlds of marketing and multimedia. design, marketing, and technology.

GRAND PRIX NETWORK

Proprietary & Confidential. All Rights Reserved. GRAND PRIX NETWORKS BACKGROUND WHY RUGBY GPN OPPORTUNITY Originally started in the 1820s at the Rugby is the third most popular sport in the To exploit exclusively sanctioned right to Rugby School in Rugby, England, first world - played in 121 countries, with more effectively professionalize the HSBC Series’ USA international match was in 1871 between than 7M players. Sevens by showcasing the same World Rugby England and Scotland. Union teams, offering a world record $1,000,000 Every four years, the Rugby World Cup, with the prize money. Our two phase approach - “Tour to Only been “professional” since 1995 top 20 teams compete in the third most- League” entails: when the IRB (now World Rugby) allowed watched sporting event in the world, behind player compensation. only the Olympics and World Cup Soccer. Phase 1 - Vertical Growth • Launch the Grand Prix Rugby World Championship 2 forms (or codes) - Unions and Leagues. World Rugby HSBC Series’ USA Sevens sold a in 2018 • Produce content and digital products for multiple Union is by far more popular - greater record breaking 80,138 tickets in 2016, platforms (live, broadcast and digital) attendance, highest paid players, larger broadcast live on NBC and to over 147 • Expand from a single tournament in 2018 to a salary cap, more TV money, sponsorship countries worldwide. series of events and revenue: • Target certain “Host” cities to hold the events (e.g. New York, Chicago, Los Angeles and Dallas Rugby Sevens were included in the 2016 Rio I. England's Rugby Football Union (RFU), the Olympics and Rugby World Cup Sevens, played Phase 2 - Horizontal Growth richest association in world rugby, generated by 24 sevens teams, 2018 RWC Sevens to be £152.2m in revenue in 2014 vs. The Rugby • Launch the professional sevens league - Grand Prix played in the US for the first time in San • Football League (RFL) at £19.2m. Rugby after the 2018 World Rugby Cup event in Francisco, CA. San Francisco, CA Expand from an inaugural 4 teams in year 1 to 16 teams by year 4 • Utilize a Formula One/NASCAR style business model

FANS NATIONALLY US RUGBY AND RUGBY FANS 40,000,000 23,000,000 STATS

RUGBY BY THE FANBASE INCREASE SINCE ‘12 INTEREST IN SEVENS NUMBERS 14% (SECOND) 87% (M) | 67% (W)

RECORD ATTENDANCE

Attendance Location

80K Las Vegas

22K Houston

18K Philadelphia

65K Chicago

GRAND PRIX NETWORK

GPN is a new breed of sports and entertainment. By combining the one-location model of the Olympic, the single-entity model of WME’s UFC empire and Formula One’s , Grand Prix Networks will create, produce, own, broadcast and distribute globally a fully sanctioned, world-class rugby sevens event that targets fans of extreme sports in the US.

CURRENT STATE SUCCESS TO DATE MODEL In partnership with USA Rugby, a full Planning: by a team of entertainment, sports GPN will apply Formula One’s business model member of both the U.S. Olympic and gaming experts from the NFL, NBA, MLB, to team sports and production, with UFC style Committee and World Rugby, GPN will CBS, GPN acquired two optimum Olympic PPV launch our ﬁrst property - The Grand Prix sports: Rugby Sevens and Indoor Volleyball. Rugby World Championship in 2018 in one GPN, utilizing Olympic style teams, will create a of the following major cities NY, LA, Protecting: these two targeted sports via U.S. competitive platform that allows independent Chicago, Dallas or Las Vegas. Exclusively Sanctioned & Licensed Agreements teams to compete for prize money. with USA Rugby Sevens and USA Volleyball, USA Rugby granted GPN the exclusive backed by an extensive intellectual property Unlike team sports, GPN will retain 100% of all right to all professional Rugby Sevens inventory insuring competitive. revenues generated. events in the U.S. Projecting: steady and stable revenue, and equity appreciation for all GPN endeavors and most importantly, major market sports franchise opportunities. Proprietary & Conﬁdential. All Rights Reserved. GRAND PRIX NETWORKS CONSUMERS WHO WANT FANS DEMOGRAPHIC MAKEUP MORE RUGBY COVERAGE ON ESPN. COLLEGE

40% Fans +35% RUGBY WRESTLING STATS 48% Gen Pop

TARGET 40% 34% FAMILIES LACROSSE MOTOCROSS 67% Fans +67% RICH FANS 40% Gen Pop

16% 7% MILLENNIALS

SOFTBALL 55% Fans +76% 3% 31% Gen Pop AFFLUENT

29% Fans +55% 19% Gen Pop

GRAND PRIX NETWORK

Proprietary & Confidential. All Rights Reserved. GRAND PRIX NETWORKS Mission: the studio will develop, produce Mission: the digital unit shall focus its attention Mission: will provide front office management and globally distribute GP Network's wholly on delivering global digital products, apps, to all GPN owned sports content, including USA owned sports, and entertainment content websites, gaming solutions and promotional Rugby and USA Volleyball exclusively across all media platforms. marketing campaigns that generate significant sanctioned and licensed events and leagues; ancillary revenue to GPN Team: led by Michael Pearce, former Head Team: the Sports unit shall be led by Rich Rose of Sports and Head of Global Video Team: the digital team will be led by Jay Initiatives at Yahoo Studios, whose efforts Morrison Plan: to work with USA Rugby and USA will include overseeing live events, in-studio Volleyball to create America’s first professional production and feature films. Plan: build out best in class streaming, gaming Rugby Sevens and Indoor Volleyball leagues, the and other digital products to distribute Grand Prix RFL and the Grand Prix VBL. Plan: the studio will initially focus on GPN’s internationally. exclusive licensed rights to USA Rugby sanctioned professional championship events.

Proprietary & Conﬁdential. All Rights Reserved. GRAND PRIX NETWORKS The United States will host the 2018 Rugby World Cup Sevens, with matches to be played in both San Francisco and San Jose in California. It marks rugby's continued growth across America after the United States Eagles hosted the All Blacks in front of the 61,500 sold-out crowd at Soldier Field on November 4, 2016

Then there’s the series. The USA Sevens airings have a steady STATS return, while NBC’s most-watched telecast to date was in January 2014, with 1.23M watching the Las Vegas ﬁnals. WHY RUGBY The sell out crowd of 61,500 was the largest to witness rugby in the United States, far eclipsing a 20,181 crowd at a 2013 game in SEVENS Houston.

World Rugby said the reception had been outstanding in non- traditional rugby markets such as the United States, where USA Rugby had more than 10 million unique visits to their website during the tournament.

As of 2016, it is the third-largest fan base worldwide with almost 40 million active followers, 600,000 registered fans, 100,000 registered players and more than 2,500 USA Rugby-afﬁliated clubs across the country.

GRAND PRIX NETWORK

Proprietary & Conﬁdential. All Rights Reserved. GRAND PRIX NETWORKS OVERVIEW TARGETED TOUR AND LEAGUE FRANCHISE TERRITORIES GPN will produce the richest Sevens Championship in World Rugby Sevens EAST COAST DIVISION WEST COAST DIVISION history by effectively combining the HSBC’s USA Sevens with $1,000,000 in prize money! Rank Designated TV Market Rank Designated TV Market USA Rugby will assist in providing the same World Rugby teams, producing effectively the 1 New York 2 Los Angeles HSBC’s premier sevens event, distributed to 5 Philadelphia 6 San Francisco those very same 147 World Rugby rich global markets, while retaining 90% of the revenues. 9 Boston 10 Seattle

13 Washington 14 Phoenix EVENT DETAILS Days: 3 NORTHERN DIVISION SOUTHERN DIVISION Teams: 24 Rank Designated TV Market Rank Designated TV Market Matches: 60 3 Chicago 4 Dallas

Rules: World Rugby Union 7 Detroit 8 Atlanta

Producing: 20 hours of live world 11 Minneapolis 12 Houston class content 15 Cleveland 16 Tampa

STATS Will assist recruiting the 24 participating Anschutz Entertainment Group will teams, supervise all competition, handle all local event promotion, ticket provide referees and other staff to sales and ticket revenue collection. LAUNCH assure international compliance with standards. PARTNERS

2013 PARTNERS GPN EXPECTS TO MEET OR EXCEED FOR 2018 BROADCASTER VENUE Will broadcast 18 hours of the Home Depot Center will host the Championship (9 hours in Prime Time). Championship providing all necessary Assist with video production and security, ticket taking, ﬁrst-aid, provide on-air broadcast talent. concessions & other event infrastructure.

That means GPN has the exclusive right to effectively professionalize the HSBC STATS Sevens tournament;

The 24 team participants means using EXAMPLE the USA Sevens actual results and GPN’s corresponding ﬁnancial projections are TEAMS valid and conservative; Offering unparalleled competitive advantages by launching with the World’s greatest teams while saving over 2013 TEAMS GPN EXPECTS TO PARTICIPATE IN 2018 90% of teams costs;

Absolute barrier to competition as no other sevens venture can do so;

GPN’s sanction agreement also provides comprehensive protections against all rugby sevens events in the US played by teams with 5 to 11 players.

Proprietary & Conﬁdential. All Rights Reserved. GRAND PRIX NETWORKS GOVERNING BODY USA Rugby is a member of both the U.S. Olympic Committee and World Rugby. USA Rugby competes in the record-breaking HSBC World Rugby Sevens Series and hosts the HSBC’s USA Sevens event which sold a record 80,138 tickets in 2016, broadcast live on NBC and is televised globally in 400M+ homes and 147 countries.

STATS SPORTS & ENTERTAINMENT AGENCY Rugby International Marketing & CSM serve as GPN’s Agency specializing in rugby and sports sponsorships. While GPN retains 100% control on all marketing and commercial GPN activities, USA Rugby’s Rugby International Marketing will assist with sponsorship sales, event marketing and management, content production and distribution

McCartney is a full-service Creative Digital Agency offering branding, web development, PARTNERS identity development, hosting, social media strategy and management, creative marketing campaigns, digital PR, database design, e-commerce, video production and mobile app creation.

Red Brick produces award winning, high quality television around the globe. They specialize in sports programming; live, live to tape and edited programs for network and cable television. Emmy Award winning network producers, directors, editors, engineers, and technicians.

RUGBY SEVENS EVENT COMPANY Acquired By GPN in Sept. 2016. Launched successful “Halloween Sevens” international tournament in St. Petersburg FL in 2016.

STATS PRO RUGBY Launched Pro 15’s League 5 Teams competing over 16 weeks.

SITUATIONAL NATIONAL RUGBY LEAGUE Last 2 events cancelled due to non- ANALYSIS sanctioning by USA Rugby. UNITED WORLD SPORTS Stages College Sevens Exhibition.

Announced desire to create sevens league, but due to GPN's holding the exclusive sanction rights to Sevens, has not happened.

FOREIGN LEAGUE FRANCHISE Just press releases to date.

GRAND PRIX NETWORK

Proprietary & Conﬁdential. All Rights Reserved. GRAND PRIX NETWORKS 90,000 BACKGROUND IN THE US Record-Breaking 80,138 In 2015, the World Started in Southern California, must Rugby’s HSBC Sevens recently held in Las Vegas. Series consists of 10 67,500 tournaments in 10 The 2016 HSBC Sevens’ USA event countries (including the continued its decade-long growth, with US - USA Sevens): attendance growing from 15,000 in 2004 to 80,138 tickets sold last year. 45,000 Attended by more than The event is broadcast live on NBC and 715,000 fans NBCSN, reaching national and international audiences in over 400 The most widely viewed, with million homes and 147 countries. 6,000 hours of action 22,500 broadcast to fans in more than 100 territories WHY IT MATTERS

The most socially engaged with GPN’s partner USA Rugby has hosted 0 61 million video views and a this USA Sevens since 2004, and will 2004 2007 2009 2011 2014 2015 2016 250% audience increase provide same on the ﬁeld support to across all platforms all GPN operations. The tour received 1,147 hours of air time in 2005–06; 530 of which was live, and was broadcast to 136 countries.[14] By 2008–09, the hours of air time had increased to over 3,300, with 35 While well established, the The USA Sevens event has provided a broadcasters airing the series in 139 countries and 15 languages.[15] Broadcast time increased further in 2009–10, with 3,561 hours of air time (1,143 hours live) carried by 34 broadcasters in 141 HSBC Rugby Sevens Tour decade long proof of concept as GPN countries and 16 languages.[16] In 2010–11, 3,657 hours of coverage were aired (1,161 hours doesn’t pay the players. will showcase exact same World Rugby live), with the same number of broadcasters as the previous season but six new countries added. For that season, Sevens World Series programming was available in 332 million homes worldwide, Union teams, and hosted by same USA with a potential audience of 760 million.[17] Rugby. Proprietary & Conﬁdential. All Rights Reserved. GRAND PRIX NETWORKS GPN ROADMAP

GRAND PRIX NETWORK

2016 2017 2018 2019 Build organization Finalize all logistics for Secure long-term broadcasting Continue to expand the series Invitational, including: secure deal to additional cities Begin investment conversations stadium and teams identify potential sponsors and Hold inaugural Championship Continue to release League broadcasters Production financing via secured Sevens event territories, and secure financing convertible debt instrument and via sale of RFL Founder Pre-Marketing Founder Units Release 4 additional tour Franchise Units expansion territories and secure Develop studio, content and Operational planning for financing via sale of RFL Explore Series C Round of digital plans Championship Sevens event in Founder Franchise Units financing, if necessary 2018 Expand content and distribution Consider exits for certain parts Identify first 4 territories for Internationally of the business Rugby Football League teams

GRAND PRIX NETWORK

Event Expenses (000’s) 2018 $20M Live Event Costs $2,242 Television $860 Founder Franchise Units: 4 at $5m each Teams $1,527 • A 20% ownership stake in the Grand Prix Operational Costs RFL. • Full voting interest with one seat on the Contractors $456 DETAILS ﬁve seat Grand Prix RFL Executive Board. Staff $1,069 • 100% Preferential Rate of Return. • RFL Major Market Franchise in top 16 U.S. G&A $815 Market (e.g. NY, LA, Chicago, Dallas, etc.) Other $3,509 INVESTMENT • First right to Founding Franchises in all $10,480 GPN expansion sports including Grand Total Prix Volleyball League (VBL).

RETURN ON CAPITAL

2018 2019 2020 2021 2022 Annual $2,785 $3,645 $7,101 $7,304 $14,688 Cumulative $2,785 $6,430 $13,531 $20,835 $35,523

Revenue Streams - (000s) 5 YEAR PROJECTIONS Ticket Sales: $3.243 Sponsorships: $2.975 Events Financials Summary 2018 2019 2020 2021 2022 Totals Broadcast Fees: $1.378 Revenues 1 2 3 3 5 14 Merchandise: $74 Per Event Revenue $3,530 $3,622 $3,721 $3,829 $3,951

Total Net Event Revenue $3,530 $7,244 $11,163 $11,488 $19,753 $53,178

Costs Financial Summary USA Rugby Share $87 $268 $279 $668 $1,302 Event Revenues: $7,669 Event Costs: $4,139 Team Development Costs $653 $845 $1,048 $1.080 $1,489 $5,116 Other Costs: $2,592 Other Expenses $2,592 $2667 $2745 $2825 $2,908 $13,738 Event EBITDA: $285 Net (EBITDA) $285 $3,645 $7,101 $7,304 $14,688 $33,023

**Financial model based on market assumptions & empirical data.

KEY TAKEAWAY An independent audit conservatively valued the Grand Prix RFL at $157M after 6 years, based solely on a limited event schedule and excluding key revenue streams as expanded tournaments, PPV and franchise sales. The audit concluded, “there is no other top-ﬂight professional sports league IN THE WORLD with as much opportunity for growth as the GRAND PRIX RFL.”

Pay Per View - GPN added pay-per-view (PPV) revenue to all events. The chart shows the increased revenue and projected change in gross margin with PPV added. Contributes over $200M in just 5 years

4 Regional Annual Expansion - The chart also shows the net change in GPN’s projected gross margins as a result of added regional tournaments. Contributes nearly $900M in just 5 years

Additional Prize Money - GPR increased the prize money offered for all tournaments. The chart shows the net change in gross margin extended across all events. Adds only $43M in additional costs

**Financial model based on market assumptions & empirical data.

KEY TAKEAWAY GPN has projected the business with increased prize money, pay-per-view revenue, and reasonable increased regional tournament growth of 4 per year. The impact of these on the originally projected revenues results in gross margins in Grand Prix Network’s Phase One Tour’s year 8 alone of $948M.