EFTA01111494.pdf

MAJOR sTuDio PARTNERS LLC MAJOR STUDIO PARTNERS FILM FUND LLC CONFIDENTIAL EXECUTIVE SUMMARY MSP FILM FUND LLC $275,000,000 Equity Interest Offering Additional financing provided by $250,000,000 Credit Facility January 2013 pRCIPRIFTARY R. rowinFAITIAI This Confidential Executive Summary is for informational purposes only and is not an offering document. Offers and sales can only be made by reviewing and completing the MSP Commitment Letter and MSP Film Fund, LLC Operating Agreement.© Major Studio Partners LLC. — All Rights Reserved 1 EFTA01111494  MAJOR sTuDio Disclaimer PARTNERS LLC This Confidential Executive Summary (the "Presentation") is submitted to you on a confidential basis and is for informational and discussion purposes only and is incomplete without reference to, and should be viewed solely in conjunction with the MSP Commitment Letter, MSP Film Fund LLC Operating Agreement, the MSP-Universal Pictures Co-Financing and Distribution Agreement, the Union Bank Mitsubishi Senior Loan Presentation and other offering disclosure materials provided by the Major Studio Partners LLC ("MSP"), the Managing Member of the MSP Film Fund LLC (the "Fund"). Neither this presentation nor any of its contents may be disclosed or used for any other purpose without the prior written consent of MSP. This Presentation was prepared by MSP for the Fund. All information and forecasts have been provided by MSP and not independently verified by placement agents as to the accuracy or completeness of any such information or forecasts including, but not limited to, any financial projections or rate of returns on investment. Investors must make their own investment decision or seek the advice of their professional advisors. Any discussion of past performance is no guarantee of future results. Financial forecasts are based on MSP estimates and pro forma information provided by Universal Pictures. Actual results could differ materially from what has been forecasted. pRCIPRIFTARY R. rirmrinpungo This Confidential Executive Summary is for informational purposes only and is not an offering document. Offers and sales can only be made by reviewing and completing the MSP Commitment Letter and MSP Film Fund, LLC Operating Agreement.© Major Studio Partners LLC. — All Rights Reserved 2 EFTA01111495  MAJOR sTuDio Table of Contents PARTNERS LLC Executive Summary 4 Risk Factors 10 Universal Overview 12 Major Studio Partners Overview 22 Financial Summary 35 pRCIPRIFTARY R rirmrinnow This Confidential Executive Summary is for informational purposes only and is not an offering document. Offers and sales can only be made by reviewing and completing the MSP Commitment Letter and MSP Film Fund, LLC Operating Agreement.© Major Studio Partners LLC. — All Rights Reserved 3 EFTA01111496  MAJOR sTuDio Executive Summary PARTNERS IAA: ■ BACKGROUND. MSP Film Fund LLC (the "Fund") and Universal Pictures ("Universal") have signed a co- financing and distribution agreement ("MSP-Universal Agreement") pursuant to which the Fund will co- finance the production cost and the theatrical distribution expenses of all of Universal' s movies over the next 5 years - some projected 100 movies being released world-wide and in all media. With the MSP- Universal Agreement in place, the Fund and Universal became partners on the financing, ownership and the sharing of all revenues on all the movies of Universal, a leading US and international major motion picture studio, for the next 5 years. ■ THE FINANCING. Fund is raising US $275 Million in Equity Interests ("Equity Investments") and arranging a $250 Million Senior Loan Facility with Union Bank Mitsubishi (the "Credit Facility"). Fund will finance 25% of the production costs and worldwide theatrical distribution expenses and Universal will finance 75% of the production costs and worldwide theatrical distribution expenses for each and all the movies being financed, produced or acquired and distributed world-wide and in all principal media by Universal for the next 5 years (the "Participation Percentages"). ■ CREDIT FACILITY. Credit Facility makes it possible for the Fund to effectively reinvest revenues from movies already in release into additional movies and, with a relatively small amount of initial Equity capital of $275 million, provide approximately $2.5 billion for 25% of Universal's production costs and theatrical distribution expenses of an estimated 100 movies creating significant leverage and helping to achieve projected high investor returns. Fund, not the Equity Investors, will borrow the money on a revolving basis. Union Bank Mitsubishi, which provides these facilities on a routine basis, provides the loans against incoming revenues of the movies already in release based on a percentage of Universal' s official estimates of the performance of each movie in release called "Ultimates" (which are provided by Universal on a regular basis. pRCIPRIFTARY ft r cm, it FNTI4I This Confidential Executive Summary is for informational purposes only and is not an offering document. Offers and sales can only be made by reviewing and completing the MW Commitment Letter and MSP Film Fund, LLC Operating Agreement.© Major Studio Partners LLC. — All Rights Reserved 4 EFTA01111497  MAJOR sTuDio Executive Summary PARTNERS LLC The Fund has already received the proposal from Union Bank for the Credit Facility. Closing the Credit Facility requires the Equity Investments be received and in the escrow account at Union Bank. Equity Investors are not the borrowers and have no liability under the Credit Facility. Further, Equity Investors cannot be called for additional funds beyond their initial Equity Investment. ■ MANAGING MEMBER. Major Studio Partners LLC ("MSP") is the Managing Member of the Fund. MSP and its predecessor companies are responsible for organizing some $3 billion going to the US major motion picture studios for the production and world-wide distribution of their feature films, including WARNER BROS., TWENTIETH CENTURY FOX, SONY PICTURES, COLUMBIA PICTURES, and for such films as SUPERMAN 2, THE CHINA SYNDROME, GORKY PARK, THE TURNING POINT, THE DEVIL WEARS PRADA, X-MAN 3, WALK THE LINE, SLUM DOG MILLIONAIRE and AVATAR. ■ PARTNERSHIP WITH UNIVERSAL. MSP negotiated terms into the MSP-Universal Agreement whereby the ownership interest and the sharing of revenues on each Picture is based on the Participation Percentages of the financing which MSP and Universal each provides for a Picture, which percentages remain the same for each of the estimated 100 Pictures over 5 years. As a result of this same pro-rata alignment between the Fund and Universal on all of the Pictures, the Fund and Universal will have very close to the same Return On Investment over the five year period. Universal has just celebrated its 100th Anniversary as a major motion picture studio with its best year at the worldwide box office with global theatrical grosses exceeding $2.927 billion. Universal's success has not been the result of a single franchise film but, rather, a portfolio of diverse films. pRCIPRIFTARY R. r(1NFIfFNTIAI This Confidential Executive Summary is for informational purposes only and is not an offering document. Offers and sales can only be made by reviewing and completing the MW Commitment Letter and MSP Film Fund, LLC Operating Agreement.© Major Studio Partners LLC. — All Rights Reserved EFTA01111498  MAJOR sTuDio Executive Summary PARTNERS LLC ■ FINANCING ORDER ON EACH MOVIE. To avoid the risk of investing in a movie not being completed or distributed and to maximize the use of the Fund's capital by not tying up funds during long production periods or initially in the expenditure of theatrical distribution expenses, the co-financing of each movie takes place in the following order; (i) Universal finances 100% of the production or acquisition costs and produces or acquires the Picture, (ii) Universal finances 100% of the theatrical distribution expenses for release of the Picture, (iii) Fund, thirty days before the theatrical release of the movie, provides its 25% of Universal's production cost and purchases its 25% ownership and economic interest in the movie and, (iv) Fund, six months after the initial theatrical release, to the extent, and in the unlikely event Universal has not recouped 100% of the theatrical distribution expenses, Fund provides 25% of any shortfall. Fund, therefore, does not have the risk of an investment in a movie that is not completed and distributed and maximizes the use of its capital. ■ REVENUES. Fund will receive 25% of all revenues and Universal will receive 75% of all revenues, world-wide and in all media (theatrical, home entertainment/DVD, television, internet, merchandising, music soundtrack, video games, book publishing after a 10% Distribution Fee to Universal. Universal is reimbursed for only out of pocket distribution expenses directly related to each Picture and not co-financed by the Fund that occur after the release of each Picture; e.g. mainly DVD manufacturing costs, talent participations and trade guild residuals. ■ BUYBACK BY UNIVERSAL. Universal is "required" to repurchase the Fund's economic and ownership interests. Within thirty (30) days that is five (5) years from the release date of the last Picture in each of successive calendar years, Fund will sell its interests beginning in the first quarter of 2018. MSP has pRCIPRIFTARY ft r(1NFIfFNTI4I This Confidential Executive Summary is for informational purposes only and is not an offering document. Offers and sales can only be made by reviewing and completing the MSP Commitment Letter and MSP Film Fund, LLC Operating Agreement.© Major Studio Partners LLC. — All Rights Reserved 6 EFTA01111499  MAJOR sTuDio Executive Summary PARTNERS LLC negotiated a "Put Option Price" into the Closing Agreement with Universal "as a floor" in he negotiations which formula closely approximates the formula used in MSP' s Financial Model. The sale discounts future long term revenues and increases Investor returns. ■ DISTRIBUTIONS INCLUDING DIVIDENDS. First, Fund will pay 11.5% annual cash dividends to the Equity Investors beginning 12 months from the Closing to provide for early cash flows and a high yield. Second, 100% of all Fund distributions to the Equity Investors until such time as they receive an aggregate amount of 150% of their capital commitments. Distributions should increase when more movies are providing revenues later in the Term and again when the Fund begins selling back the movies to Universal. Third, after the Equity Investors have received 150% of their commitments, 80% of all Fund distributions will be made to the Equity Investors and 20% will be made to the Managing Member. ■ MSP PROJECTION. MSP projects a cash return for Investors approaching 400% and an IRR of approximately 30%, which includes the Annual Cash Dividends of 11.5% (MSP recently negotiated and organized a very similar film slate financing with Twentieth Century Fox ("Fox") which provided $325 million to co-finance an initial 28 movies. Investors in the Fox deal have received an estimated 400% to 500% cash return on their investment plus, through reinvestment of revenues, are participating in over 140 movies and climbing.) The terms of the Universal financing are superior to the terms of the Fox financing, MSP having negotiated both. pRCIPRIFTARY ft r(1NFIfFNTI4I This Confidential Executive Summary is for informational purposes only and is not an offering document. Offers and sales can only be made by reviewing and completing the MW Commitment Letter and MSP Film Fund, LLC Operating Agreement.© Major Studio Partners LLC. — All Rights Reserved 7 EFTA01111500  MAJOR sTuDio Executive Summary PARTNERS IAA: ■ TRANSPARENCY. Investors will be provided with complete transparency: (i) Universal will provide Fund with monthly distribution reports for each Picture during the early years of each release, then continuing reports until its buyback by Universal, and periodic Ultimates (written Universal estimates of projected total ultimate revenues, costs and profits of each Picture); (ii) Fund will audit the reports provided by Universal on each Picture, and (iii) Fund has engaged an independent CPA firm with a major practice in film accounting and film finance to oversee the bank accounts of the Fund, maintain books and records, conduct audits and provide Investors with copies of Distribution Reports, Ultimates, Audits and access to the books and records of the Fund. ■ STUDIO ACCOUNTING. Studio accounting reports to investors are based on the terms of the deal and are usually very close to being very accurate. MSP, our accountants and auditors expect to see any errors through continuous review and audits of each of the movies. When films do well but investors do badly, it is generally due to the terms of the transaction, not the accounting reports. The MSP-Universal terms are very simple, clean and the same pro-rata sharing of financing, ownership and revenues between the Fund and Universal on each and all of the estimated 100 films. Basically, the transaction is very easy to account for and monitor. ■ OVERSUBSCRIPTIONS. Upon raising $275 million of Equity Interests and closing with Universal, and with the already expressed interest of Universal, the Fund intends to raise an additional $275 million of Equity Interests based on the following; (i) Fund will increase the Fund's Participation Percentage to 50% of each Picture so there is no dilution of ownership and economic interests, (ii) a pro-rata increase in the Credit Facility will be obtained, (iii) Universal will fund the reciprocal 50%, making the Equity Investors, through the Fund, 50-50 partners with Universal, and (iv) all other terms of the deal are the same as in the original deal. plUIPRIFTARY R. r(1NFIfFNTI4I This Confidential Executive Summary is for informational purposes only and is not an offering document. Offers and sales can only be made by reviewing and completing the MSP Commitment Letter and MSP Film Fund, LLC Operating Agreement.© Major Studio Partners LLC. — All Rights Reserved EFTA01111501  MAJOR sTuDio Executive Summary PARTNERS LLC ■MANAGEMENT FEES MSP is the sole Managing Member of the Fund and will not receive organizational fees, closing fees, reimbursement of expenses or disposition fees on the eventual sale of the Pictures MSP will receive; (i) an annual management fee of 3% of the equity capital under management, (ii) executive producer fee of 1% or 2% of the production cost of the Pictures upon their world-wide theatrical release when the the Fund's Participation Percentage is 25% or 50% respectively, and (iii) a profit participation of 20% of proceeds after the Equity Interests have received in the aggregate 150% of their investment commitments MSP will use its fees to pay all ongoing costs including placement agents fees and expenses of the management of the Fund over the entire Term; organizational and closing costs, legal, independent CPA firms that manage the books and records of the Fund and conduct audits of all the Pictures, staff, office expenses and travel. ■MANAGEMENT ACTIVITIES MSP is managing and overseeing the entire transaction; having negotiated, obtained and closing the transaction with Universal, obtaining the financing from Equity Interests, arranging the Credit Facility and for the next 5 years, reviewing production budgets, reviewing contracts with talent and all media outlets, following the production, promotion and distribution of all the estimated 100 Pictures, managing all investments in the Pictures, reviewing receipt of proceeds and disbursements, ensuring meticulous accounting books and records are kept of the Fund' s activities, ensuring reports and payments to the Credit Facility lenders and the Equity Investors, ensuring and overseeing continuing audits of all the Pictures and arranging and negotiating the eventual sale of the Fund's ownership and economic interests in all the Pictures to Universal. ■ PLACEMENT AGENT FEES Placement Agents will receive at closing 4% of the proceeds received from investors it introduces that participate and an additional 3% in equal semi-annual payments over the first two years. PROPRIFTARY Re rONFIIIENTIAL This Confidential Executive Summary is for informational purposes only and is not an offering document. Offers and sales can only be made by reviewing and completing the MW Commitment Letter and MSP Film Fund, LLC Operating Agreement.© Major Studio Partners LLC. — All Rights Reserved 9 EFTA01111502  MAJOR STUlliO Risk Factors PARTNERS LLC Prospective investors should carefully consider, among other factors, the matters described below, each of which could have on adverse effect on the value of their investment. As a result of these factors, as well as other risks inherent in any investment or as set forth elsewhere herein, there can be no assurance the Fund will meet its investment objectives or otherwise be able to successfully carry out its investment program. MARKET RISK. The Fund is being formed to finance and acquire interests in a large number of motion pictures, in association with a US major motion picture studio, and over an extended period of four to five years. Accordingly, the motion picture investments will be subject to certain of the risks incident to the production, distribution and ownership of motion pictures including risks associated with changes in the general economic climate, changes in the overall motion picture industry, the financial condition of Universal Pictures and its parent, NBC Universal and its of principal owners, Comcast Corporation (51%) and General Electric Corporation (49%), the supply and demand of competing motion pictures, technological innovations that makes content more accessible to global audiences but is causing a worldwide decline in DVD sales as consumers shift from physical to electronic formats, changes in interest rates and in the costs and terms of the financing as stated, ability of Universal to continue to organize and complete quality and entertaining major feature films, dealing with labor unions and any disruptive effect of a strike, the rising cost of producing and releasing movies, considerable piracy in Southeast Asia and the former Soviet Union, changes in tax, intellectual property and other laws and regulations, copyright laws, acts of God (including earthquakes), and various uninsured and uninsurable risks and government rules, regulations or fiscal policies and other factors beyond the control of the Fund. Any decline in the international, national, regional or local motion picture markets might forestall profits and also might conceivably result in considerable losses. COMPETITION. There exists substantial and increasing competition in the filmed entertainment industry from alternative providers of similar types of content, as well as from other forms of entertainment and recreational activities. The filmed entertainment business competes with other film studios and independent producers for talent, sources of financing for the production of its films, for the exhibition of its films in theaters and for shelf space in retail stores for its DVDs and also competes for consumers with other film producers and distributors and all other forms of entertainment inside and outside the home. There can be no assurance that Universal and the Fund will be able to compete effectively in the future against existing or new competitors and that competition will not have a material adverse effect on the financial returns of the Fund. pRCIPRIFTARY R. r ntswinrwrini This Confidential Executive Summary is for informational purposes only and is not an offering document. Offers and sales can only be made by reviewing and completing the MSP Commitment Letter and MSP Film Fund, LLC Operating Agreement.© Major Studio Partners LLC. — All Rights Reserved 10 EFTA01111503  MAJOR STUlliO Risk Factors Continued PARTNERS LLC LEVERAGE & LIQUIDITY. Fund intends to leverage its investments by means of reinvesting proceeds derived from the distribution of the motion pictures and the use of debt financing determined by the Managing Member in its sole and absolute discretion. Although the use of leverage may enhance returns and increase the number of investments that can be made, it may also substantially increase the risk of losses. Additionally, if there are insufficient funds to finance all the intended movies or insufficient cash flow to meet principal and interest payments on the indebtedness, the value of any equity portion of the Fund's investments may be significantly reduced. RELIANCE ON INITIAL PICTURES. The proposed agreement with Universal requires the Fund to contribute its 25% share of all Production, Print Advertising, and other operating costs for each Picture 30 days prior to the initial theatrical release of each Picture. The Fund expects to recoup these costs and earn a positive cash on cash return as each Picture is released and generates revenues from the various distribution channels (theater, home entertainment, TV, internet, etc.). While the equity raise and availability under the revolving credit facility will provide the capital required to fund the costs of an initial number of Pictures, the Fund' s ability to continue contributing its share of Picture costs over the 5 year and 100 Picture projected slate, is dependent on the initial 10 to 20 Pictures collectively not to incur very significant losses. PORTION OF THE INVESTMENT MAY BE ILLIQUID FOR APPROXIMATELY FIVE YEARS INCLUDING SOME RESTRICTIONS ON TRANSFERS. Fund intends to pay 11.5% annual dividends representing over 57.5% of the Equity Interests investment plus cash payments from the sale of Pictures to Universal. Nevertheless, the Fund will reinvest proceeds from the motion pictures into additional motion pictures over a period of five years making a portion of the investment possibly remaining illiquid. Transfer of Interests is subject to certain restrictions as contained in the LLC Agreement. AUDIENCE APPEAL. Fund' s business is to finance the creation of entertainment content, the success of which depends substantially on consumer tastes and preferences that can change in often unpredictable ways. The success of the Fund will depend on Universal Pictures' ability to consistently create, acquire, market and distribute filmed entertainment that meets the changing preferences of the broad domestic and international consumer market. The ultimate profitability of any motion picture depends upon its audience appeal in relation to the cost of its production and distribution. The audience appeal of a given motion picture cannot be anticipated with any degree of certainty prior to its actual release. pRCIPRIFTARY ft ronwinrwrini This Confidential Executive Summary is for informational purposes only and is not an offering document. Offers and sales can only be made by reviewing and completing the MW Commitment Letter and MSP Film Fund, LLC Operating Agreement.© Major Studio Partners LLC. — All Rights Reserved 11 EFTA01111504  MAJOR STUI)1() Universal Pictures Overview PARTNERS IAA: Universal Pictures, produces, acquires, markets and distributes filmed entertainment and stage plays worldwide in various media formats for theatrical, home entertainment, television and other distribution platforms. Universal offers a diverse mix of internally developed titles, co-productions and acquisitions. Their theatrical release strategy focuses on offering a diverse slate of films with a mix of genres, talent and budgets, with an emphasis on building and leveraging sequels and cost-effective comedy projects. Universal's content consists of theatrical films, direct-to-video titles and its film library, comprised of approximately 4,000 titles representing a wide variety of genres. Filmed entertainment is distributed globally through theatrical releases, DVDs, television and, increasingly, other digital media formats. Universal produces films both on its own and jointly with other studios or production companies, as well as with other entities. Their films are produced under both the Universal Pictures and Focus Features names, and are marketed and distributed worldwide primarily through their own marketing and distribution companies. Universal also acquires distribution rights to films produced by others, which may be limited to particular geographic regions, specific forms of media or certain periods of time. Universal generally retains all rights relating to the worldwide distribution of internally produced films, including rights for theatrical exhibition, home entertainment distribution, pay and advertising-supported television exhibition and other media. After their theatrical premiere, films are distributed globally for home entertainment use on DVD and in various digital formats, which includes the licensing of films to third parties, including Apple and Amazon, for electronic sell-through over the Internet. Filmed entertainment, including from the film library, is also licensed to various third parties and affiliated cable and broadcast networks, as well as to subscription pay television, pay per view and video on demand services. These arrangements for theatrical films generally provide for a specified number of exhibitions during a fixed term and include exclusive exhibition rights for the licensing of films for specified periods of time. pRnPRIFTARY R rt- urinnow This Confidential Executive Summary is for informational purposes only and is not an offering document. Offers and sales can only be made by reviewing and completing the MSP Commitment Letter and MSP Film Fund, LLC Operating Agreement.© Major Studio Partners LLC. — All Rights Reserved 12 EFTA01111505  MAJOR STUDIO Universal Pictures Overview PARTNERS LLC Timeline 1912 1 1990 2000 2006 2000-2010 Jan. 2011 2002-Present Universal Matsushita Vivendi (Studio Vivendi acquires Meet the Parents GE acquires Vivendic s The Bourne founded. Was Electric Canal) merges Matsushita' s Franchise Film remaining 12.34% Identity founded as (Panasonic) with Seagram, 20% minority interest in NBC Franchise Film second major acquires MCA/ acquires 80% interest in NBC Universal. Comcast Universal interest in MCA/ I studio and Universal acquires 51% interest opened one Universal from GE; GE owns month after • remaining 49% I Paramount F I SO 1900-2000 2004 2005 2006 2007 I 1962 1995 2004 Sept. 2010 1999-Present 2001-Present MI MCA, Inc. Seagram General Electric GE acquires American Pie The Fast and the acquires acquires 80% of and Vivendi 7.66% interest in Franchise Film Furious Franchise Universal MC/a/Universal merge NBC and NBC Universal Film Universal; GE owned by acquires 80% Vivendi, with interest agreement to acquire remaining 12.34% S FIRCIPRIFTARY fa rcuswinnow This Confidential Executive Summary is for informational purposes only and is not an offering document. Offers and sales can only be made by reviewing and completing the MW Commitment Letter and MSP Film Fund, LLC Operating Agreement.© Major Studio Partners LLC. — All Rights Reserved 13 EFTA01111506  MAJOR STUDIO Universal Pictures Overview PARTNERS LLC Upcoming Movies 2013 January 18 MAMA Jessica Chastain Nikolaj Coster- Waldau Starring Jessica Chastain (Oscar Nominee 2012 THE HELP), Horror - Annabel and Lucas are faced with the challenge of raising his young nieces that were left alone in the forest for 5 years.... but how alone were they? February 8 IDENTITY THIEF Jason Bateman Melissa McCarthy John Favreau Amanda Peet A comedy centered on a man and the woman who steals his identity MARCH 8 ADMISSION A romantic comedy starring Tina Fey, Paul Rudd A Princeton admissions officer who is up for a major promotion takes a professional risk after she meets a college-bound alternative school kid who just might be the son she gave up years kin' ago in a secret adoption. pRCIPRIFTARY R. r cuswinrwriAi This Confidential Executive Summary is for informational purposes only and is not an offering document. Offers and sales can only be made by reviewing and completing the MW Commitment Letter and MSP Film Fund, LLC Operating Agreement.© Major Studio Partners LLC. — All Rights Reserved 14 EFTA01111507  MAJOR STUDIO Universal Pictures Overview PARTNERS LLC 2013 Upcoming Movies MARCH 29 A PLACE BEYOND THE PINES. Action movie featuring Ryan THE PL4CE Irmo Gosling, Bradley Cooper and Eva Mendes. THE'PINES' A motorcycle stunt rider considers committing a crime in order to provide for his wife and child, an act that puts him on a collision course with a cop-turned- politician. April 10 OBLIVION Tom Cruise Morgan Freeman Sci-Fi Adventure - A court martial sends a veteran soldier to a distant planet, where he has to destroy the remains of an alien race. The arrival of an unexpected traveler causes him to question what he knows about the planet, his mission, and himself May 10 ABOUT TIME Rachel McAdams Bill Nighy UNI&RSAIL Richard Curtis will venture into science fiction with his own time-travel script, "About Time." pRCIPRIFTARY R. rowinFinrrigo This Confidential Executive Summary is for informational purposes only and is not an offering document. Offers and sales can only be made by reviewing and completing the MSP Commitment Letter and MSP Film Fund, LLC Operating Agreement.© Major Studio Partners LLC. — All Rights Reserved 15 EFTA01111508  Universal Pictures Overview May 22 Tyrese Gibson FAST Et FURIOUS 6 Vin Diesel Paul Walker D ayne Johnson Sixth installment in the franchise that has grossed over $1.5B in worldwide box office revenues. Action thriller - Former cop Brian O-Connor and Dom Toretto team up again in this installment as they and their elite team of straight racers/ 1 MAJOR STUDIO PARTNERS LLC thieves continue to elude federal marshals. May 31 THE PURGE Ethan Hawke In the not-too-distant future, a new political regime, called the New Founding UNIYERSOIL Fathers of America, attempts to control an epidemic of violence and crime by imposing strict martial law, and by trying out a new experiment called The Purge, where three times a year, for 12 hours, murder is completely legal. JUNE 20 DESPICABLE ME 2 Steve Carell Al Pacino Kristen Wiig Miranda Cosgrove Russell Brand Second 3-D animated installment with over $543 million in worldwide box office revenue. Gru (Steve Carell) and his minions continue their mission to become the greatest evil genius pRCIPRIFTARY R. rowinFinnui This Confidential Executive Summary is for informational purposes only and is not an offering document. Offers and sales can only be made by reviewing and completing the MSP Commitment Letter and MSP Film Fund, LLC Operating Agreement.© Major Studio Partners LLC. — All Rights Reserved 16 EFTA01111509  MAJOR STUI)1() Universal Pictures Overview PARTNERS LLC 2013 Upcoming Movies June 28 KICK-ASS 2 Jim Carrey Nicolas Cage John Leguizamo Second Installment in the franchise that has grossed over $1.8B in worldwide box office revenues. Action Thriller - Former cop Brian O'Connor and Dom Toretto team Or > up again in this installment as they and their elite team of straight racers/thiefs continue to elude federal agent Luke Hobbs and their past HICK-ASS 2 July 19 R.I.P.D. Jeff Bridges Ryan Reynolds Kevin Bacon Mary-Louise Parker Action - comedy comic book adaptation fantasy crime film focusing on a newly deceased cop (Ryan Reynolds) who's drafted into a squad of zombie cops that battle the supernatural. Red's Robert Schwentke directs, with Jeff Bridges co-starring as his partner and Kevin Bacon playing the villain. August 13 THE WORLD' S END Rosamund Pike Simon Pegg Nick Frost 20 years after attempting an epic pub crawl, five childhood friends reunite when one of them becomes hell bent on trying the drinking marathon again. As they attempt to reconcile the past and present, they realize the real struggle is for the future, not just theirs but humankind's. Reaching The World's End is the least of their worries pRinPRIFTARY fe. rowinFNTIAI This Confidential Executive Summary is for informational purposes only and is not an offering document. Offers and sales can only be made by reviewing and completing the MSP Commitment Letter and MSP Film Fund, LLC Operating Agreement.© Major Studio Partners LLC. — All Rights Reserved 17 EFTA01111510  MAJOR STUDIO Universal Pictures Overview PARTNERS LLC 2013 Upcoming Movies August 16 2 GUNS Denzel Washington Mark Wahlberg James Marsden Bill Paxton A DEA agent and an undercover Naval Intelligence officer who have been tasked with investigating one another find they have been set up by the mob -- the very organization the two men believe they have been stealing money from AUGUST 28 Closed Circuit John Crowley Eric Bana Rebecca Hall Jim Broadbent UNIVERSAL Martin and Claudia are lawyers -- and ex-lovers -- who find themselves put at risk after they join the defense team for an international terrorist's trial. September 6 RIDDICK Vin Diesel Karl Urban This is the third installment in the Riddick Sci-fi franchise starring Vin Diesel portraying Riddick, the last surviving member of the Furian race. pRCIPRIFTARY R. rowinFinnui This Confidential Executive Summary is for informational purposes only and is not an offering document. Offers and sales can only be made by reviewing and completing the MSP Commitment Letter and MSP Film Fund, LLC Operating Agreement.© Major Studio Partners LLC. — All Rights Reserved 18 EFTA01111511  MAJOR sTuDio Universal Pictures Overview