Ms. Kathleen Persaud reports

WILDBRAIN ANNOUNCES EXEMPTIVE RELIEF IN CONNECTION WITH ITS SUBSTANTIAL ISSUER BID

In connection with Wildbrain Ltd.'s previously announced substantial issuer bid to purchase for cancellation up to $20-million of its common shares, the Ontario Securities Commission has granted an exemption order (the relief order) permitting Wildbrain to extend the offer, if it determines to do so, in circumstances where all of the terms and conditions of the offer have been complied with or waived, without first taking up all common shares deposited under the offer and not withdrawn. As previously disclosed in the company's offer to purchase and issuer bid circular dated Sept. 29, 2026, Wildbrain applied for the relief order to preserve its flexibility to extend the offer, should it determine to do so. The relief order exempts Wildbrain from the requirement in Subsection 2.32(4) of National Instrument 62-104 -- Take-Over Bids and Issuer Bids. Because the purchase price under the offer's modified Dutch auction cannot be determined until all tenders, including any tenders made during an extension period, are known, the offer could not be extended in such circumstances without the relief order.

The relief order does not change any of the terms of the offer, and Wildbrain has not made any decision to extend the offer. The offer remains scheduled to expire at 5 p.m. Eastern Time on Nov. 3, 2026, unless extended, varied or withdrawn. If Wildbrain extends the offer, it will issue a news release announcing the extension no later than 9 a.m. Eastern Time on the next business day following the previously scheduled expiry date. If the offer is extended, Wildbrain will not take up or pay for any common shares deposited under the offer until the expiry of the extension, and common shares deposited under the offer may be withdrawn at any time prior to the expiry of any extension period.

Under the offer, shareholders may tender common shares by way of auction tenders at prices of not less than $1.30 and not more than $1.45 per common share (in increments of one cent), or by way of purchase price tenders. Wildbrain will purchase all common shares taken up at a single purchase price determined in accordance with the terms of the offer.

Details of the offer, including instructions for tendering common shares, are included in the circular, the letter of transmittal and the notice of guaranteed delivery filed by Wildbrain in connection with the offer. Provided that a properly completed notice of guaranteed delivery is received by the Computershare Investor Services Inc. (the depositary) prior to the expiry date, the common shares, letter of transmittal and other required documents must be received by the depositary before 5 p.m. Eastern Time on the first trading day on the Toronto Stock Exchange after the expiry date. The offer documents are available without charge on SEDAR+. Shareholders should carefully read the offer documents prior to making a decision with respect to the offer.

Wildbrain has engaged Canaccord Genuity Corp. to act as financial adviser and dealer manager, and the depositary to act as depositary for the offer. Evans & Evans Inc. has provided an independent liquidity opinion regarding the market for the common shares following completion of the offer. Shareholders with questions regarding the offer or how to tender their common shares may contact the depositary toll-free in Canada and the United States at 1-800-564-6253, from outside North America at 1-514-982-7555, or by e-mail at corporateactions@computershare.com. Shareholders may also contact the dealer manager, Canaccord Genuity Corp., by e-mail at ecm@cgf.com.

About Wildbrain Ltd.

At Wildbrain, the company builds and grows beloved family brands through exceptional entertainment experiences. Home to franchises such as Strawberry Shortcake, Teletubbies, Yo Gabba Gabba!, Inspector Gadget and Degrassi, the company is a global leader in franchise management-bringing stories to life through content production, audience reach and consumer products. The company's award-winning studio has partnered with top global platforms such as Apple TV, Netflix and the BBC, producing acclaimed series such as The Snoopy Show, Strawberry Shortcake: Berry in the Big City, Teletubbies (2015), Yo Gabba GabbaLand! and Finding Her Edge. The Wildbrain Network, offering more than 1,000 channels across YouTube, FAST and AVOD, delivers premium-quality content to today's kids and families wherever they are watching -- connecting advertisers to audiences at scale through brand-safe media solutions. Wildbrain CPLG, the company's global licensing and consumer products arm, represents the company's own and partner brands across major territories worldwide. Headquartered in Toronto, Wildbrain trades on the Toronto Stock Exchange (TSX: WILD).

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