Lionsgate Studios (LION) Proxy Filing summary

Executive summary

• Fiscal 2026 marked a transformative year, highlighted by the separation of the Studios and Starz businesses, creating two independent, publicly traded companies and simplifying the capital structure to a single class of stock.

• Achieved record studio revenue of $3.2 billion and record library revenue of $956 million, with strong box office and television performance, and significant growth in the 3 Arts talent management business.

• Strategic initiatives included expanding major film and TV franchises, leveraging AI for operational efficiency, and extending IP into live entertainment and digital platforms.

• Governance enhancements included board refreshment, improved alignment with shareholders, and the expiration of the shareholder rights plan.

Voting matters and shareholder proposals

• Shareholders will vote to elect eleven directors, re-appoint Ernst & Young LLP as independent auditor for fiscal 2026, and approve an advisory resolution on executive compensation.

• The board recommends voting FOR all proposals and nominees.

• Shareholders may submit proposals or director nominations for the next annual meeting by specified deadlines and in compliance with SEC and BC Act requirements.

Board of directors and corporate governance

• The board consists of eleven directors, with 91% independence and diverse backgrounds in media, finance, law, and global business.

• Board committees include Audit & Risk, Compensation, Nominating and Corporate Governance, and Transaction Committees, all chaired by independent directors.

• The board separates the roles of Chair and CEO, conducts annual self-evaluations, and emphasizes succession planning and director education.

• Major shareholders have board designees under investor rights agreements.