New agreement to bring L.O.L. Surprise! content and licensing initiatives to Chinese market.

A new licensing partnership has been announced between MGA Entertainment and iQIYI, an innovative market-leading online entertainment service in China. This new partnership represents the first endeavour in China for the L.O.L. Surprise! portfolio, beyond the current product distribution channels.

“The deep knowledge and understanding that the iQIYI team possesses regarding the Chinese market is invaluable
to further expanding L.O.L. Surprise!,” said Isaac Larian, CEO and founder of MGA Entertainment. “With agents on
the ground in China, who live and breathe the Chinese culture, we are confident that they will make incredible
strides to strengthening the L.O.L. Surprise! brand.”

In addition, iQIYI will identify and manage third-party licensing activities for the L.O.L. Surprise! brand. iQIYI
will also leverage its expertise and knowledge in the online content space, to secure new distribution touch points.

“We are delighted to partner with MGA Entertainment and become the company’s first and exclusive licensee in
China to promote the world-renowned IP brand L.O.L. Surprise!,” said Wu Gang, iQIYI’s vice president. “Since its
launch in December 2016, L.O.L. Surprise! has become one of the world’s most popular toy brands. With iQIYI’s
massive user base, our deep understanding of the China market, and our strong development capability of the full
IP value chain, we are confident that we will bring the L.O.L Surprise! brand to more children and families in
China and further promote its brand and development in the market.”