RDI

Pay & Specialty – Financial Summary 2010-2014

Table of Contents

Undertaking # Service Name Licensee Licensee Ultimate Owner Type Year
215413782 RDI Canadian Broadcasting Corporation Canadian Broadcasting Corporation Specialty (category C service) 2014

Revenue ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Residential/bulk/smatv subscriber revenue 32,961,000 32,125,863 -2.53 33,592,953 4.57 29,939,061 -10.88 30,747,126 2.70 -1.7
DTH revenue 10,737,000 11,120,826 3.57 11,660,709 4.85 12,030,827 3.17 12,172,652 1.18 3.2
Local advertising revenue 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
National advertising revenue 10,244,000 10,168,591 -0.74 11,113,580 9.29 12,009,267 8.06 11,997,541 -0.10 4.0
Other revenue 401,000 667,872 66.55 642,292 -3.83 613,944 -4.41 1,823,983 197.09
Total Revenue 54,343,000 54,083,152 -0.48 57,009,534 5.41 54,593,099 -4.24 56,741,302 3.93 1.1

Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Programming and Production 36,183,000 37,641,514 4.03 36,242,261 -3.72 35,202,326 -2.87 42,750,510 21.44 4.3
Technical 2,236,000 1,273,843 -43.03 1,113,459 -12.59 1,360,344 22.17 1,929,605 41.85 -3.6
Sales and Promotion 4,090,000 3,434,251 -16.03 3,445,081 0.32 3,307,239 -4.00 3,348,180 1.24 -4.9
Administration and General 1,771,000 2,039,022 15.13 1,826,764 -10.41 1,465,424 -19.78 5,009,328 241.83 29.7
Total Expenses 44,280,000 44,388,630 0.25 42,627,565 -3.97 41,335,333 -3.03 53,037,623 28.31 4.6

Performance ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Income 10,063,000 9,694,522 14,381,969 13,257,766 3,703,679
Depreciation 2,963,000 2,753,217 -7.08 2,760,028 0.25 2,712,139 -1.74 2,830,977 4.38 -1.1
P.B.I.T. 7,100,000 6,941,305 11,621,941 10,545,627 872,702
Interest Expense 0 0 n/a 0 n/a 0 n/a 329,339 n/a
Adjustments - Gain (Loss) 0 0 n/a 0 n/a 0 n/a -2,343,139 n/a
Pre-tax Profit 7,100,000 6,941,305 11,621,941 10,545,627 -1,799,776

Canadian Programming Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Acquisition of rights 1,453,000 1,525,700 5.00 1,521,464 -0.28 1,197,016 -21.32 949,154 -20.71 -10.1
Script & concept 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Filler Programming + Program Production 33,844,000 34,975,211 3.34 33,859,793 -3.19 33,548,024 -0.92 39,174,512 16.77 3.7
Investment in Programming 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Total Canadian Programming 35,297,000 36,500,911 3.41 35,381,257 -3.07 34,745,040 -1.80 40,123,666 15.48 3.3
Canadian Programming/Revenue (%) 64.95 67.49 62.06 63.64 70.71

Staff ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Total Remuneration 33,287,000 34,559,679 3.82 33,647,509 -2.64 32,614,515 -3.07 38,566,744 18.25 3.8
Total Staff Count 361.07 371 2.75 356.8 -3.83 323 -9.47 372.18 15.23
Avg Remuneration 92,190 93,153 1.04 94,304 1.24 100,974 7.07 103,624 2.62 3.0

Subscribers
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Subscribers 10,888,000 11,189,981 2.77 11,679,275 4.37 11,127,544 -4.72 11,186,678 0.53 0.7

Profitability (%)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Margin 18.5 17.9 25.2 24.3 6.5
P.B.I.T. Margin 13.1 12.8 20.4 19.3 1.5
Pre-tax Margin 13.1 12.8 20.4 19.3 -3.2
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