Ms. Lana Castleman reports

THUNDERBIRD ENTERTAINMENT GROUP ANNOUNCES COMPLETION OF ANNUAL GRANT OF RSUS AND PSUS TO BOARD OF DIRECTORS AND EXECUTIVE MANAGEMENT AND RENEGOTIATED CEO COMPENSATION

Thunderbird Entertainment Group Inc. has granted an aggregate amount of 143,317 restricted share units (RSUs) to its non-executive directors on Nov. 25, 2024, pursuant to the terms of the company's equity incentive compensation plan. The RSUs will vest on Dec. 14, 2024. Each vested RSU entitles the holder thereof to receive one common share of the company.

The company also granted an aggregate amount of 171,606 RSUs to certain members of the company's executive management team, pursuant to the terms of the company's equity incentive compensation plan. The RSUs will vest over three years and each vested RSU entitles the holder to receive one common share of the company. Additionally, 400,412 performance share units (PSUs) were granted to certain members of the company's executive management team, based on certain performance targets to be met. Subject to the satisfaction of such performance targets, the PSUs will vest on the one-year anniversary of the date of the grant. Each vested PSU entitles the holder to receive one common share of the company (or can be paid out in cash at the discretion of the company's board of directors).

Thunderbird Entertainment Inc. (TEI), a wholly owned subsidiary of the company, has also entered into an addendum to the executive employment agreement dated July 1, 2021, between TEI and Jennifer Twiner McCarron, the chief executive officer of the company. Under the terms of the addendum, effective from July 1, 2024, Ms. McCarron has agreed to forego a guaranteed bonus, and has agreed to a bonus structure that ensures eligibility for annual short-term incentive payments is driven entirely by performance based on the achievement of AEBITDA (adjusted earnings before interest, taxes, depreciation and amortization) targets and strategic objectives established by the company's board of directors.

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About Thunderbird Entertainment Group Inc.

Thunderbird is a global award-winning, full-service multiplatform production, distribution and rights management company, headquartered in Vancouver, with additional offices in Los Angeles and Ottawa. Thunderbird creates award-winning scripted, unscripted and animated programming for the world's leading digital platforms, as well as Canadian and international broadcasters. The company develops, produces and distributes animated, factual and scripted content through its various content arms, including Thunderbird Kids and Family (Atomic Cartoons), Thunderbird Unscripted (Great Pacific Media), and Thunderbird Scripted. Productions under the Thunderbird umbrella include Mermicorno: Starfall, Super Team Canada, Molly of Denali, Highway Thru Hell, Kim's Convenience, Boot Camp, and Sidelined: The QB and Me. Thunderbird Distribution and Thunderbird Brands manage global media and consumer products rights, respectively, for the company and select third parties.

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