EROS MEDIA WORLD PLC

(incorporated as a limited company and registered in the Isle of Man under the Companies Act 2006 (Isle of Man) with company number 007466V)

£50,000,000 9.00 per cent. Secured Bonds due 2026

(ISIN: XS1112834608) (the "Bonds")

BONDHOLDER UPDATE

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED (THE "UK MARKET ABUSE REGULATION").

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN ANY JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT.

01 May 2024

Eros Media World PLC (the "Company") hereby gives notice that it has not yet made the interest payment on the Bonds which was due on 15 April 2024, and payable by 29 April 2024. This follows the non-payment of the interest payment falling due in October 2023, as announced on 31 October 2023.

As announced by the Company in March 2023, the sale of STX Entertainment in 2022 left a legacy of complex financial reporting and other transition issues for the Company, while the COVID-19 pandemic also caused significant disruptions to the Company's global operations. The Company has been working ever since on a business transformation plan which is ongoing, but which has proven to be significantly more challenging than was originally contemplated. In the meantime, the Company has suffered significant losses, including a net loss of US$741.9 million in the 2021 financial year and a net loss of US$60.9 million in the 2022 financial year (all as disclosed in the Company's audited financial statements for the year ended 31 March 2022). This combination of factors has left the Company with a significant liquidity shortfall, causing it to miss the scheduled interest payments on the Bonds in October 2023 and April 2024.

Based on the high level of acceptance by Bondholders of the Company's invitation to repurchase the Bonds in March 2023, the Company believes there is likely to be significant support from Bondholders for a proposal to allow Bondholders to exit their investment in the Bonds. Due to its current financial position, the Company has not been able to repurchase any Bonds pursuant to the invitation that was launched in March 2023. However, the Company is working with its advisers to devise an alternative invitation which is designed to give Bondholders an opportunity to realise more value than the current trading price of the Bonds would indicate. There is currently no certainty around the timing or other details of this potential invitation (including in particular the financial terms of any such invitation), and no assurance of when (or if) such an invitation will follow. The Company will make further announcements as appropriate and in accordance with regulatory requirements.

For further information, please contact:

Investor Relations Team

Email: [email protected]

Important Information

This announcement is released by Eros Media World PLC and contains information that qualified or may have qualified as inside information for the purposes of the UK Market Abuse Regulation, encompassing information relating to the Bonds mentioned above. For the purposes of the UK Market Abuse Regulation, this announcement is made by the Investor Relations Team at Eros Media World PLC.

The distribution of this announcement in certain jurisdictions may be restricted by law. Persons into whose possession this announcement comes must inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any jurisdiction.

This announcement does not constitute or form part of any offer or invitation to sell, or any solicitation of any offer to purchase any securities.