CLOSE FILE X Since its inception, VRL has been a proud supporter of our  local film industry; and we have an unrivalled tradition of  bringing to life iconic Australian stories - from classics such  as Mad Max, Gallipoli, Muriel’s Wedding and Priscilla: Queen  of the Desert, to more recent screen legends, Happy Feet  and Red Dog. In the 30 June 2014 year, two Australian films  backed by Roadshow were released - Wolf Creek 2 and The  Rover. In addition to the recently distributed title Felony,  starring Joel Edgerton and Tom Wilkinson, there are currently  a number of unique Australian films forecast for release in  the 2015 financial year including Paper Planes starring Sam  Worthington and David Wenham, Oddball starring Shane  Jacobson and Deborah Mailman, and Now Add Honey starring  Portia de Rossi. Quality film product was an essential part of the division’s  performance with some of the best performing films during the 2014  year including The Hunger Games: Catching Fire, The Hobbit: The  Desolation of Smaug, Frozen, The LEGO Movie, Transformers 4, How to  Train Your Dragon 2, Man of Steel, The Wolf of Wall Street, Thor: The Dark  World, X-Men: Days of Future Past and Gravity. The cinema-going public will be delighted to know that the next financial  year boasts one of the most impressive films slates seen for a number of  years. The line-up of big budget movie blockbusters, quality specialist  films and proven franchises includes: Dawn of the Planet of the Apes, Rio 2, Guardians of the Galaxy, The Hunger Games: Mockingjay Part 1, Night at the Museum: Secret of the Tomb, Fifty Shades of Grey, The Avengers: Age of Ultron, Fast and Furious 7, Mad Max: Fury Road, Ted 2, Minions, Penguins of Madagascar, Big Hero 6, Inside Out, Jurassic  World and San Andreas. VRL is accordingly confident that the Cinema  Exhibition division will deliver a robust performance in the coming year. For Roadshow’s slate of international films, the upcoming  2015 financial year is anticipated to be one of our strongest in  years – including the third instalment in the hugely successful  Hunger Games franchise, Mockingjay Part 1, the third  instalment in the Hobbit franchise, The Battle of the Five  Armies, the hotly anticipated sequel Mad Max: Fury Road, as  well as American Sniper, The Imitation Game, Big Eyes and  San Andreas. In the ever evolving home entertainment business, where  the digital revolution is changing the distribution landscape,  Roadshow Entertainment experienced a challenging year  impacted by a shift in how consumers view and own their  content. Despite these challenges, Roadshow Entertainment  remained the number one independent distributor in Australia  with a significant 14.5% market share. The first half results  were adversely affected by the timing and consistency of cinema  release titles available to flow down through the distribution  chain, however the division regained strength and benefited  from a much stronger second half. The largest independent film distributor in Australia and New Zealand,  VRL’s film and entertainment distribution division includes Roadshow Films,  Roadshow Entertainment, Roadshow Digital and Roadshow Television. The division connects film content with audiences and through Roadshow’s  pivotal marketing expertise and diverse sales distribution network, titles  are provided to various markets throughout their entire life-cycle – from  theatrical release of films to cinemas, to home entertainment on Blu- ray and DVD and digital, subscription television and free to air television  (including digital multi-channels) – as an effective one-stop solution for  delivering content to audiences. A strong second half was recorded compared to the corresponding period in 2013, with the division finishing the year to 30 June 2014 with an EBITDA of $41.7 million, down 9.8% on the prior year’s result, and PBT of $34.8 million, down 8.3%. This result was largely the outcome of a  challenging slate for theatrical cinema release and underperforming  commercial content. Once again, Roadshow Films finished the financial year as the leading  theatrical film distributor in the market with a commanding 28.4% market  share, up 2.9% on last year. This was aided by the delivery of many  outstanding performances in the second half as the stronger performing  films began to flow through the release schedule. Best performing films  in the year to 30 June 2014 included well known franchises and record- breaking blockbusters - The Hunger Games: Catching Fire, The LEGO  Movie, The Wolf of Wall Street, The Hobbit: The Desolation of Smaug,  American Hustle, Gravity and Edge of Tomorrow. Regarding Roadshow Entertainment’s sales of packaged  media (Blu-ray and DVD), there were a number of outstanding  results including some industry-best results for The Hunger  Games: Catching Fire, The Great Gatsby, The Wolf of Wall  Street and Olympus Has Fallen. It is important to note that while the growth of the Digital  format for the delivery of content to consumers is inevitable  and to be wholly embraced, packaged media sales still  represent a very healthy estimated total Australian market of  over $1 billion. Through Roadshow’s prominent network of  retail outlet partners including JB Hi-Fi, Kmart, ABC shops,  Sanity, Woolworths, Target and Hoyts Kiosks, the division is  confident of maintaining market share in the future. TV content continues to play a crucial role in Roadshow’s  packaged media business. Leading properties this year  included Dr Who, Broadchurch, Fat Tony, Ja’mie-Private  School Girl, Miss Fisher’s Murder Mysteries, The Wiggles  and Orange Is The New Black. Through our long term  relationships with the BBC, ABC, ITV, Shine, Screentime,  A key partner and supplier of banner films for many decades, Warner Bros.  continues to offer a slate of impressive movies to cater for all tastes. This  long-standing distribution relationship with Warner Bros., dating back to  1971, is one that Roadshow Films values highly. Further strengthening  VRL’s future supply of A-list, quality film content, Roadshow also renewed  the Lionsgate output agreement for an additional three year term from January, 2015. Roadshow’s other core key supplier relationships, including  Film Nation, Relativity, Village Roadshow Pictures and The Weinstein  Company, place VRL at the forefront in the theatrical film industry. 06 VILLAGE ROADSHOW LIMITED FILM DISTRIBUTION IMAGES:  L to R – Dr Who; The Wolf of Wall Street; Village Cinemas