DHX Media Inc. is a Halifax-based developer, producer, and distributor of films and television programs. Excerpts from the company's financial statements for the year ended June 30, 2016, are in Exhibits 2.22A to 2.22C. EXHIBIT 2.22A DHX Media Ltd.'s 2016 Consolidated Balance Sheet DHX MEDIA LTD. Consolidated Balance Sheet As at June 30, 2016 and 2015 (expressed in thousands of Canadian dollars) June 30, 2016 $ June 30, 2015 $ Assets Current assets Cash and cash equivalents Amounts receivable (note 6) Prepaid expenses and other Investment in film and television programs (note 7) Long-term amounts receivable (note 6) Deferred financing fees Property and equipment (note 8) Intangible assets (note 9) Goodwill note 10) 80,446 184,292 7,779 239,752 512,269 20,753 526 17,683 144,610 205,342 901,183 42,907 178,076 22,078 194,226 437,287 11,091 706 17,817 127,396 213,941 808,238 Liabilities Current liabilities Accounts payable and accrued liabilities (note 7) Deferred revenue Interim production financing (note 11) Current portion of long-term debt and obligations under finance leases (note 11) 128,444 27,601 92,003 109,143 49,323 67,743 11,567 259,615 280,506 4 Long-term debt and obligations under finance leases (note 11) Long-term deferred revenue Other liabilities Deferred income taxes (note 14) 15,010 9,213 564,348 336,835 901,183 12,916 239,125 269,902 1,686 12,542 23,029 546,284 261,954 808,238 Shareholders' Equity EXHIBIT 2.22B DHX Media Ltd.'s 2016 Consolidated Statement of Income DHX MEDIA LTD. Consolidated Statement of Income For the years ended June 30, 2016 and 2015 (expressed in thousands of Canadian dollars, except for amounts per share) June 30, 2016 $ 304,817 June 30, 2015 $ 264,039 144,376 130,128 5,145 Revenues (note 22) Expenses (note 16) Direct production costs and expense of film and television produced Acquisition costs Amortization of property and equipment and intangible assets Development expenses and other Tangible benefit obligation expense Write down of investment in film and television programs Selling, general and administrative Finance expense (note 15) Finance income (note 15) 14,523 5,950 10,407 4,631 14,215 1,750 75,614 30,153 (338) 272,028 32,789 1,814 59,085 21,334 (7,990) 238,769 25,270 Income before income taxes Provision for (recovery of) income taxes Current income taxes (note 14) Deferred income taxes (note 14) 16,934 (11,813) 5,121 27,668 14,036 (8,299) 5,737 Net income for the year 19,533 DXH Media Ltd. 2016 Consolidated Statement of Cash Flows DHX MEDIA LTD. Consolidated Statement of Cash Flows For the years ended June 30, 2016 and 2015 (expressed in thousands of Canadian dollars) June 30, 2016 $ June 30, 2015 $ 27,668 19,533 4,490 10,033 12,570 1,636 1,750 490 1,364 5,981 Cash provided by (used in) Operating activities Net income for the year Charges (credits) not involving cash Amortization of property and equipment Amortization of intangible assets Unrealized foreign exchange loss (gain) Amortization of deferred financing fees Write-down of investment in film and television programs Accretion on tangible benefit obligation Debt extinguishment charge Share-based compensation Tangible benefit obligation expense Loss on disposal of fixed assets Amortization of debt premium Movement in the fair value of embedded derivatives Deferred tax recovery Net investment in film and television programs (note 21) Net change in non-cash balances related to operations (note 21) Cash provided by used in operating activities Financing activities Proceeds from issuance of common shares, net of issue costs Dividends paid Proceeds from issuance of common shares related to ESPP and options exercised Common shares repurchased and cancelled pursuant to the NCIB Deferred financing foes Repayment of bank indebtedness Proceeds from interim production financing Proceeds from long-term debt, net of costs Decrease in restricted cash Repayment of long-term debt and obligations under finance leases Cash provided by financing activities Investing activities Business acquisitions, net of cash acquired Acquisition of property and equipment Acquisition/cost of intangible assets Cash used in investing activities Effect of foreign exchange rate changes on cash Net change in cash and cash equivalents during the year Cash and cash equivalents - Beginning of year Cash and cash equivalents - End of year 3,698 6,709 (5,809) 1,485 1,814 800 3,913 4,254 14,215 718 16 (680) (8,299) (1,565) (18,476) 22,326 72 1,950 (11,812) (51,837) (25,646) (21,291) 61,346 (7,287) (6,453) 2,482 3,010 (5,040) 24.261 94,119 (289) (4,930) 16,948 359,837 32 (159,599) 208,028 (91,554) 78,855 (2,336) (17,943) (20,279 254 37,539 42,907 80,446 (209,245) (4,789) (669) (214,703) 577 16,228 26,679 42,907 How much cash did DHX have available to use at the end of fiscal 2016? (Enter amounts in thousands of dollars.) Cash available to use $ eTextbook and Media What percentage of DHX's assets were financed by shareholders in 2016? (Round answers to 1 decimal place, e.g. 52.7%) 2016 2015 Assets were financed by shareholders % % Did this represent an increase or decrease relative to 2015? eTextbook and Media How much did DHX's accounts receivable increase from 2015 to 2016? (Enter amounts in thousands of dollars. Round percentage answers to 1 decimal place, e.g. 52.7%.) Accounts receivable increased by $ or %. How did this compare with the change in revenues during the same period? (Enter amounts in thousands of dollars. Round percentage answers to 1 decimal place, e.g. 52.7%.) Revenue increased by $ or %