<p class="text-align-justify"><span style="font-size:11pt"><span style="line-height:normal"><span style="font-family:Calibri,sans-serif"><span lang="EN-US" style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="color:#0e101a">The United Kingdom has produced many of the world's most popular and influential movies and television shows. It has a world-class reputation for cinema, animation and special effects, television production.&nbsp;</span></span></span></span></span></span><span style="font-size:11pt"><span style="line-height:normal"><span style="font-family:Calibri,sans-serif"><span lang="EN-US" style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="color:#0e101a">Due to the outbreak, the film industry too had to suffer. The box office revenue dropped by over 80% in the UK. Simultaneously, global box office earnings for British films fell at such an unprecedented rate.</span></span></span></span></span></span></p>

<p class="text-align-justify"><span style="font-size:11pt"><span style="line-height:normal"><span style="font-family:Calibri,sans-serif"><b><span lang="EN-US" style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="color:#0e101a">UK Film Production</span></span></span></b></span></span></span></p>

<p class="text-align-justify"><span style="font-size:11pt"><span style="line-height:normal"><span style="font-family:Calibri,sans-serif"><span lang="EN-US" style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="color:#0e101a">Although filmmaking has been halted owing to Covid-19, 2020’s official data indicate that there was an investment of £2.84 billion in the UK on film and high-end TV production. Considering the disruptions in the production plan lasting five to six months, this value is only down 21% from 2019.</span></span></span></span></span></span></p>

<p class="text-align-justify"><span style="font-size:11pt"><span style="line-height:normal"><span style="font-family:Calibri,sans-serif"><span lang="EN-US" style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="color:#0e101a">The year began with a bang but production was halted by the end of March. Although some post-production and visual effects work were permitted to proceed, actual production did not resume until mid of July.</span></span></span></span></span></span></p>

<p class="text-align-justify"><span style="font-size:11pt"><span style="line-height:normal"><span style="font-family:Calibri,sans-serif"><span lang="EN-US" style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="color:#0e101a">Inward films like "No Time to Die" and "1917" that was filmed in the UK but were financed and managed from the outside, contributed to about 90% of Britain's £1.95 billion investment in 2019. This demonstrates the desirability of the UK as a filming site for international projects.</span></span></span></span></span></span></p>

<p class="text-align-justify"><span style="font-size:11pt"><span style="line-height:normal"><span style="font-family:Calibri,sans-serif"><span lang="EN-US" style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="color:#0e101a">In the last quarter of 2020, the industry, however, made a strong comeback with a robust £1.9 billion spent on cinema and high-end television which was the third biggest three months spend recorded.</span></span></span></span></span></span></p>
