As at September 30, 2017

Total Class A shares and other instruments outstanding Total Class A shares and equivalents held by TWX
Class A Common Shares 144,881,732 61,407,775
Convertible Instruments (as converted basis):

Series A Convertible Preferred Share 11,211,449 11,211,449
Series B Convertible Redeemable Preferred Shares1 108,143,731 108,143,731
Total Warrants2 106,439,720 100,926,996
Stock-based Compensation 4,725,076 -
Diluted CME Class A Shares 375,401,708 281,689,951
TWX interest in CME
75%

1 Based on the accreted value of 200,000 shares issued and outstanding at September 30, 2017 without giving effect to additional accretion after such date.

2 Generally exercisable until May 2, 2018 at an exercise price of US$1.00 per share.

 



As at October 20, 2017
Shares of Class A Common Stock Series A Convertible Preferred Share1 Series B Convertible Redeemable Preferred Shares2 Ownership % of Shares of Class A Common Stock Voting interest3
Shares outstanding, excluding Time Warner 83,556,046 - - 57.6% 53.5%
Time Warner 61,407,775 1 200,000 42.4% 46.5%
Total 144,963,821 1 200,000 100.0% 100.0%

1 The single share of Series A Convertible Preferred Stock is convertible into 11,211,449 shares of Class A common stock.

2 The shares of Series B Convertible Redeemable Preferred Stock are non-voting stock, convertible at the option of Time Warner at a conversion price of $2.42, subject to customary anti-dilution provisions, and redeemable at the option of CME, subject to the conversion right of Time Warner. The accretion rate is 3.75% per annum from June 25, 2016 until June 25, 2018. If the shares are converted on June 25, 2018, and there are no further adjustments to the conversion price under the Certificate of Designation for the Series B Preferred Shares, TW Investor would be issued 111.1 million shares of Class A common stock upon conversion.

3 Voting interest takes into account both the shares of Class A common stock and the share of Series A Convertible Preferred Stock, which is entitled to one vote for each of the 11,211,449 shares of Class A common stock into which it is convertible. The Series B Convertible Redeemable Preferred Shares are non-voting, except in certain circumstances.