1

Fall 2019TSX-V: TBRD

2

Forward Looking Statements This presentation contains “forward-looking statements” within the meaning of applicable securities laws. We are hereby providing cautionary statements identifying important factors that could cause the actual results to differ materially from those projected in the forward-looking statements. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance are not historical facts and may be forward-looking and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in the forward-looking statements. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, "continues" or “believes” or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.

This presentation contains references to certain measures that do not have a standardized meaning under International Financial Reporting Standards (“IFRS”) as prescribed by the International Accounting Standards Board and are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement IFRS measures by providing a further understanding of operations from management’s perspective. Accordingly, non IFRS measures should not be considered in isolation nor as a substitute for analysis of financial information reported under IFRS. The Company believes that non-IFRS measures, specifically EBITDA and Adjusted EBITDA, are frequently used by securities analysts, investors and other interested parties as measures of financial performance and to provide supplemental measures of operating performance and thus highlight trends that may not otherwise be apparent when relying solely on IFRS financial measures.

Except for statements of historical fact, information contained in this presentation constitutes forward-looking statements and includes, but is not limited to the (i) projected financial performance of Thunderbird Entertainment Inc. (the "Company"); (ii) completion of the offering of subscription receipts and the completion of the reverse takeover transaction with Golden Secret Ventures Ltd.; (iii) the expected development of the Company’s business projects and joint ventures; (iv) execution of the Company’s vision and growth strategy, including future M&A activity and global growth; (v) sources and availability of third party financing for the Company’s projects; (vi) completion of the Company’s projects that are currently in production, development or otherwise under consideration; (vii) renewal of the Company’s current productions; and (viii) future liquidity, working capital and capital requirements.

Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect.

By their nature, forward-looking statements involve numerous assumptions, inherent risks and uncertainties, both general and specific, which contribute to the possibility that the predicted outcomes may not occur or may be delayed. The risks, uncertainties and other factors, many of which are beyond the control of the Company, that could influence actual results include factors beyond the control of the Company, include (i) risks related to the general nature of the entertainment industry; (ii) risks related to digital media, television and film industries; (iii) global media industry trends; (iv) potential for budget overruns and other production risks; (v) limited ability to exploit current and future film and television content inventory; (vi) changes in applicable regulatory environments; (vii) technological change; (viii) labour relations; (ix) dependence on relationships with content producers and suppliers; (x) customer, distribution or industry segment concentration risks; (xi) dependence on relationships with customers and distribution partners; (xii) fluctuations in financial results; (xii) competition; (xiv) dependence on key personnel; (xv) protection of intellectual property; (xvi) impact of fluctuations in exchange rates; (xvii) reliance on distribution of Canadian content and government funding; and (xviii) international distribution activities.

Accordingly, readers should not place undue reliance on forward-looking information. We do not undertake to update any forward-looking information, except as, and to the extent required by, applicable securities laws.

2

3

QUALITY SERVICE HONESTY TEAMWORK

MARKETING PITCHA S I M P L E B U T S M A R T P R E S E N T A T I O N

3

Structural shift of content consumption from linear to non-linear, on-demand mediums

Skyrocketing demand creating scarcity for high quality content and media

Fiscal 2019/2020 production budgets estimated at $170MM

Strong balance sheet

7 IP series in production and invested funds in developing 25 additional IP shows with toys, merchandising and gaming opportunities on owned IP

Experienced management team in the media and entertainment sector and predominant board

VISION: To be the greatest studio in the world

MISSION: To create content that makes the world a better place

VALUES: quality, creativity, artist friendly, encouraging of innovation, trust based

relationships, and sustainable growth

Is building global brands through the creation and

ownership of scripted, factual and animated

content by partnering with creators and servicing both leading OTT platforms such

as Netflix and Amazon Prime and traditional

broadcasters like CBC and Discovery. We have global,

scalable infrastructure with current productions being

broadcast in over 180 countries with offices in Vancouver, Los Angeles,

Toronto, Ottawa and London UK.

Investment Highlights:

Thunderbird

4

The Media Landscape has Shifted

All this has created a STREAMING WAR with BILLIONS OF DOLLARS a year being poured into original content as platforms fight for views and new platforms are being created

4

Massive migration of viewers from linear conventional media to non-linear, on-demand, over-the-top (OTT) platforms like:

The increase in the number of devices capable of supporting digital media along with increasing internet access speed, has provided consumers with an option to access media content anywhere, anytime

5

The Streaming War Is Heating Up

5

(1997)

(2006)

(Oct 2018) AT&T acquired TimeWarnerfor $85B creating WarnerMedia and gaining access to content from Warner Bros., HBO and Turner to name a few

(Dec 2018)Netflix pays WarnerMedia$100 million to keep “Friends” on the platform another year but moving to HBO Max in 2020

(Mar 2019) Disney acquires 21st Century Fox for $71.3B adding Fox’s library including National Geographic, Fox Searchlight, X-Men and Fantastic Four film franchises and more

(Mar 2019) Disney announces it will be launching its own streaming service and pulling all content from Netflix

(Nov 2019)

(Nov 2019)

(Early 2020) AT&T’s WarnerMedia set to launch its streaming service:

(Early 2020) Comcast Corp’s NBCUniversal to launch new streaming service:

1997 – 2008 2018 2019 2020

(2008) (2010)

Launchedin the US

surpassed 10 million subscribers in its first day, the company

announced November 11, 2019

6

Never Before Seen Demand for Original

Content

$16 billion

6

SOURCES: IGN, THE HOLLYWOOD REPORTER, THE FINANCIAL TIMES, OPEN X AND THE VERGE

Netflix’s spending on content is projected to climb to $35 billion in 2025, up from an estimated $16 billion in 2019, according to Pivotal Research Group.

Content Spend 2019

$6 billion

$24 billion

$13 billion

“Netflix has become the entrenched leader in this shifting

industry, but instead of fighting off startups, it's up against tech

juggernauts like Apple and Amazon, and century-old media

giants.- PC Mag November 8, 2019

7

7

Atomic named top 3 biggest digital arts companies in BC in 2019

2017 Daytime Emmy Award

24 weeks on the Top 10 Best Seller for Children’s Series Kim’s Convenience won

six Canadian Screen Awards including The Best Comedy Series

Bladerunner 2049 Oscar for Best Cinematography and Best Visual Effects

Top rated series on

Debuted at #1 for Best Selling picture books – in collaboration with Savannah Guthrie from NBC

Thunderbird is Building

Global Brands

8

By Partnering with the World’s Most Talented Creators

8

(September 2019) Book 1 launches as a 66 minute special on

Book 5 ‘The Midnight Blade’ launches in bookstores rocketing to #2 on the best seller list

Atomic works with Penguin Books to cross promote and have Netflix burst added to all books.

(April 2020) Book 2 launches onwith 10 more episodes

Toy line launches with Jaxxs Pacific

(Spring 2021) 70 minutes of interactive content will launch on Netflix - choose your own adventure style - a new technology for

Last Kids on Earth video game to launch in partnership with Cyber Group and Outright Games

2017 2019 2020 2021

‘The Last Kids on Earth’ leaps from book to Netflix to toys. Next stop: billion-dollar franchise

(September 2020)Book 3 launches on with 10 more episodes

Book 6 of the actual book series to drop same day.

(October 2017) The Last Kids on Earth was pitched to Netflix and offer made within two days. Licensing deal where Netflix retains the SVOD rights in perpetuity with Atomic retaining rights to all other terrestrial broadcasters (on a 2 year hold back) and ancillary revenue streams.

(April 2017) Atomic met Max Brallier in NYC and agreed to partner to create franchise around The Last Kids on Earth series.

9

9

And Servicing

Global Giants

10

10

Project Client Partner Service/Proprietary Delivery/Date

KIDS & FAMILY

101 Dalmatian Street Service F2020

Hello Ninja Service F2020

Lego Jurassic World / Service F2020

Molly of Denali Service F2020

Last Kids on Earth Proprietary F2020 / F2021

FACTUAL

Highway Thru Hell / Proprietary F2020

Heavy Rescue 401 Proprietary F2020

High Arctic Haulers Proprietary F2020

The Teenager and the Lost Mayan City Proprietary F2020

Queen of the Oil Patch Service F2020

SCRIPTED

Kim’s Convenience Proprietary F2020

SOURCE: COMPANY FILINGS

Thunderbird Production Slate

11

FACTUAL PRODUCTION

Thunderbird Shareholder First Strategy

• Global leader in factual television

• Predictable, mature, cash-flowing business

• In a non-dilutive manner, Great Pacific’s cash-flow has been funding the growth of Atomic Cartoons

11

• Full-service animation studio that is internationally recognized as one of the leading animation studios in North America

• Hyperbolic growth business

• Atomic has been reinvesting all cashflow back into its growing business

KIDS & FAMILY

Revenue Growth:

2017 2018 2019

$23.3M$33.8M

$15.1M 54%45%

Adjusted EBITDA(1) Growth:

2017 2018 2019

$545K

$4.3M

$844K -35%

689%

(1) Adjusted EBITDA is EBITDA excluding certain items to better analyze trends in performance and after non-controlling interests. These adjustments result in a truer economic representation on a comparative basis. Adjusted EBITDA includes the add-backs made to calculate the Adjusted Net Income and additionally add-backs for interest expense, net of interest income, depreciation and any non-cash amortization (to the extent not added in to Adjusted Net Income). See “Non-IFRS Measures” and “Forward-Looking Statements” below in this press release.

Revenue Growth:

2017 2018 2019

$13.2M $14.9M$10.2M 31% 12%

Adjusted EBITDA(1) Growth:

2017 2018 2019

$6.8M

$8.3M

$5.3M28%

22%

12

12

Allow Creative Freedom

DevelopIntellectual

Properties (IP)

Partner with World-ClassPlatforms

Leverage IP

Ownership

Adjusted EBITDA(1) Margin Growth:

Attract Top

Talent

2017 2018 2019

7.1%

16.7%

5.4%

(1) Adjusted EBITDA is EBITDA excluding certain items to better analyze trends in performance and after non-controlling interests. These adjustments result in a truer economic representation on a comparative basis. Adjusted EBITDA includes the add-backs made to calculate the Adjusted Net Income and additionally add-backs for interest expense, net of interest income, depreciation and any non-cash amortization (to the extent not added in to Adjusted Net Income). See “Non-IFRS Measures” and “Forward-Looking Statements” below in this press release.

31.5%

135.2%

In fiscal 2019, 134.5 half hours of owned-IP were delivered

Production Services

Licensing and

Distribution

2018 REVENUE SOURCE

Production Services

Licensing and

Distribution

2019 REVENUE SOURCES

Concentration on

Long-Term Shareholder

Value Creation

13

Case Study

13

(£ Millions) Acquisition Price Share Capital Market Cap Enterprise Value TEV/EBITDA

eOne £5.60 498.7 £2,792.81 £3,300.0 16.7

(CAD$ Millions) Share Price Share Capital Market Cap Enterprise Value TEV/EBITDA(FY2019)

TBRD $1.35 46.6 $62.9 $47.6 4.6

Rationale:• Accelerates Hasbro’s Brand Blueprint strategy by adding eOne’s family brands, exceptional, proven TV and film expertise and

veteran executive leadership• Gain access to eOne’s US$2 billion content library • Adds beloved global preschool brands, Peppa Pig and PJ Masks, as well as a slate of additional brands in development, including

newly introduced Ricky Zoom, to Hasbro’s robust brand portfolio • Dramatically enhances storytelling capabilities and franchise economics in TV, film and other mediums to strengthen Hasbro’s

brands Hasbro / Entertainment One joint press release August 22, 2019

Relative Valuation

14

BARB HARWOODChief Financial Officer

Barb is Chief Financial Officer of Thunderbird and is responsible for corporateand production finance, accounting and taxation. Barb obtained her CAdesignation while working for Ellis Foster Chartered Accountants (now Ernst &Young) as manager of the entertainment division, and previously held theposition of CFO for Paperny Films. Barb is a graduate of the University of BritishColumbia with a BA in Film.

TIM GAMBLEVice Chairman

A Founding partner of Thunderbird, Tim Gamble focuses on corporate finance,and strategic alliances, as well as Executive Production services of feature filmsand television series. Prior to forming Thunderbird, Tim founded and served aspresident of Peace Arch Entertainment Group (TSX, AMEX) from 1982 until2002.

BRIAN PAES-BRAGAChairman of the Board

Brian Paes-Braga is a Canadian born entrepreneur, merchant bankingexecutive, and philanthropist. He is Chairman of Thunderbird Entertainmentand sits on the Board of Directors of DeepGreen Metals. He also serves asPrincipal, Head of Merchant Banking at SAF Group, a leading structured creditand merchant banking group which builds, invests, finances and advises highgrowth companies as well as provides flexible and long-term capital solutionsto public and private corporations while providing stable returns for investorsthrough its structured credit arm. Brian was Founder and CEO of Lithium XEnergy Corp., a lithium resource company, which raised approximately $53million and, within 2.5 years, was sold to an international company for $265million in March 2018.

JENNIFER TWINER MCCARRONChief Executive Officer, Director

Jennifer Twiner McCarron joined Atomic as Head of Production in 2011supervising all in-house production. She has lead production on multiple titlesincluding Beat Bugs for Netflix, Rocket Monkeys for Teletoon and the hitseries Little Charmers to name a few. She was promoted to President in2016, then CEO in 2018. She is an award-winning Producer, having receivedseveral Leo awards, an ELAN, a DTV, an AACTA, an Emmy award and wasvoted one of the “Top 25 Women in Animation” by Animation Magazine in2004.

Experienced Team

In Media & Entertainment

MARK MILLERPresident, Director

Mark is the President of Thunderbird Entertainment. He founded Canada’sleading factual company Great Pacific Media which was acquired byThunderbird in 2014. He is a rare mix of successful entrepreneur and artist.He is an award-winning writer, producer and music composer. His insatiablecuriosity and drive for excellence are at the root of his unprecedentedcommercial success in the international market.

14

MATTHEW BERKOWITZChief Creative Officer

Matthew Berkowitz is the Chief Creative Officer of Thunderbird Entertainmentand Atomic Cartoons and oversees the development, production andacquisition of intellectual properties across both companies. A seasonedexecutive with over a decade in the industry, Matthew is an Executive Producerof Atomic and Netflix's The Last Kids on Earth and Hello Ninja, as well asAtomic's upcoming Princesses Wear Pants series. Matthew is also a Produceron the upcoming feature film Extinct, which is directed by David Silverman (TheSimpsons Movie, Monsters Inc) and written by The Simpsons veterans JoelCohen, Rob LaZebnik and John Frink. Throughout his career, Matthew hasestablished production relationships with Sony Animation, DreamWorksAnimation, Amazon Studios, Lego and Zodiak. Matthew regularly attendsworldwide markets including MIPCOM, Kidscreen, Annecy, Comic-Con andLicensing Expo. Matthew graduated from the S.I. Newhouse School of PublicCommunications at Syracuse University and is the proud father of threedaughters.

SARAH NATHANSONGeneral Counsel

Sarah Nathanson is General Counsel at Thunderbird where she provides legaland business affairs support to both the production crew and the corporateteam across the Thunderbird Group of Companies. She has more than twelveyears of experience in entertainment law, both in private practice and in-house.Sarah was previously Director, Business & Legal Affairs at DHX Media. She hasworked on numerous productions, including the Cloudy with a Chance ofMeatballs television series and My Little Pony.

15

AZIM JAMALDirector

Dr. Jamal is the Chief Executive Officer of Pacific Reach Seniors HousingManagement, which he co-founded in 2014. He has extensive experience inmanaging and overseeing investments in a variety of industries, including realestate, hospitality, healthcare, and technology. Dr. Jamal is also responsible fordriving the creative direction and strategy for Pacific Reach’s Hospitality andEntertainment Division. Prior to founding Pacific Reach, he co-founded andmanaged Retirement Concepts, which is one of Canada’s largest privately heldseniors housing companies. Dr. Jamal is a member of the Young Presidents’Organization, a recipient of the Ernst & Young Entrepreneur of the Year Award,and winner of the Business in Vancouver Top 40 Under 40 OutstandingAchievement Award. He is a trained family physician and graduated as aMedical Doctor (M.D.) from the University of British Columbia.

PAUL SPARKESDirector

Mr. Sparkes is an accomplished business executive with more than 20 years ofexperience in the public and private sectors. For the past decade Mr. Sparkeshas been a leader in the broadcast and new media industry asCTVglobemedia’s Executive Vice President, Corporate Affairs. Mr. Sparkes hasalso held senior positions in public service, including with the Government ofCanada as Director of Operations to Prime Minister, Jean Chretien, and as asenior aide to two Premiers; Clyde Wells and Brian Tobin. Mr. Sparkes co-jounded Difference Capital Financial Inc. and currently serves on a number ofprivate and public boards. Mr. Sparkes will serve on the Audit Committee.

FRANK GIUSTRADirector

Mr. Giustra’s entrepreneurial success expands to both his established workswithin the natural resource industry and film industry. Mr. Giustra is Presidentand Chief Executive Officer of Fiore Financial Corporation and is the founder ofLions Gate Entertainment Corp., one of the world’s largest independent filmcompanies. Previously, Mr. Giustra served as President, Chairman andExecutive Officer at Yorkton Securities Inc. and as Chairman of EndeavourFinancial Corporation. Mr. Giustra is a noted philanthropist who sits onnumerous boards as well as launching the Clinton Giustra EnterprisePartnership.

MARNI WIESHOFERLead Director

Ms. Wieshofer’s background includes serving as the CFO and EVP of CorporateDevelopment at Lionsgate Entertainment where she oversaw the company’smergers, acquisitions, and other strategic financial initiatives including theacquisitions and integration of Trimark Pictures, Artisan Entertainment andRedbus Films Distribution U.K. to name a few, as well as the sale of LionsgateStudios and the Canadian distribution business. Her background also includesbeing a Managing Director in Houlihan Lokey’s TMT Corporate Finance Group,based out of Los Angeles, providing M&A, capital markets, financialrestructuring, including the Relativity Media and Weinstein Companybankruptcies and subsequent sales and financial advisory services. Beforejoining Houlihan Lokey, Ms. Wieshofer was a Partner and Managing Director atMESA, a boutique advisory investment bank, where she spearheadedinvestment banking, strategy, and valuation engagements for companiesthroughout the media space. Ms. Wieshofer’s experience also includesprominent roles at Media Rights Capital, Coopers & Lybrand CharteredAccountants and Alliance Atlantis Communications. Ms. Wieshofer is currentlya member of the Board of Directors of Film2Future, a member of the Dean’sAdvisory Committee at the Rotman School of Management, and the Chair ofthe Women’s Volleyball Be Extraordinary Campaign at Western University.

15

Predominant

Directors

FRANK HOLMESDirector

Mr. Holmes is currently the Chief Executive Officer and Chief Investment Officerof U.S. Global Investors Inc. and serves as its Portfolio Manager. Mr. Holmes isalso President and Secretary at F.E. Holmes Organization Inc. and Presidentand a director of USACI. Additionally, Mr. Holmes previously served as theChairman of Fortress IT Corp. and as Chairman of Endeavour FinancialCorporation. Mr. Holmes is engaged in several international philanthropiesincluding President’s Circle, the International Crisis Group and the William J.Clinton Foundation. Mr. Holmes is a regular commentator on CNBC,Bloomberg and Fox Business. Mr. Holmes will serve as Chair of the AuditCommittee.

16

16

TBRD

TSX.V: $1.35

Price:

$62.9M

Market Cap:

Debt:

$987K

Cash

$16.3M

Insider Ownership:

44%

Total Issued & Outstanding 46,631,475

Dilution 5,244,675

Fully Diluted 51,876,151

Analyst Coverage:

Canaccord Genuity Aravinda Galappathige Tel: +1-416-869-7303 agalappatthige@cgf.com

Cormark Securities David McFadgen Tel: +1-416-943-6452 dmcfadgen@cormark.com

Capitalization Structure

& Analyst Coverage

17

17

18

About UsW R I T E H E R E S O M E T H I N G A B O U T T H E T O P I C

Contact Us

400 – 2233 Columbia StreetVancouver, BCV5Y 0M6

Head Office

604.683.3555

info@thunderbird.tv

Investor Inquiriesinvestors@thunderbird.tv

18