Viacom explores partnership with Paramount Pictures

Viacom Inc. has initiated a process to explore opportunities for a significant
strategic minority equity investment in Paramount Pictures. The announcement was
made by Philippe Dauman, Viacom’s executive chairman, president and CEO, at the
Jefferies Media and Communications Conference which took place from 23 to 24 February 2016 in New York City.

“We have received indications of interest from potential partners seeking a strategic
investment in Paramount Pictures and I have decided to pursue discussions with a
select group of potential investors,” Dauman said. “In this time of change and
enormous opportunity in our industry, a partnership will bring significant benefit to
Paramount and Viacom, both strategically and financially, provide new opportunities
for Paramount’s employees and talent, and enhance long-term value for all Viacom
shareholders.”

“In addition, the value of motion picture content continues to increase with the
explosion of screens and the rapid expansion of the global theatrical market. This is
the perfect time to explore new strategies to capitalise on Paramount’s content
expertise and global platform, maximise opportunities for its continued growth, and
unlock the value of the business for the benefit of shareholders.” Dauman added.

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