DNEG Wins Academy Award® for Best Visual Effects on ‘Dune’

DNEG’s Sixth Academy Award^® for Best VFX in the Past Eight Years, Seventh in Total

LONDON–(BUSINESS WIRE)–DNEG, a leading technology-enabled visual effects (VFX) and animation studio for the creation of feature film, television and multiplatform content, has won its seventh Academy Award^® for Best Visual Effects – and its sixth in the past eight years – for its groundbreaking VFX work on Dune.

Hosted on March 27, 2022, the 94th Academy of Motion Picture Arts and Sciences Awards awarded Best Visual Effects to Dune. The Oscar^® was received by production VFX supervisor Paul Lambert, DNEG VFX supervisors Tristan Myles and Brian Connor, and SFX supervisor Gerd Nefzer. DNEG served as lead VFX partner on Dune, and on No Time To Die, which also received a nomination, as determined by the Visual Effects Branch Executive Committee.

Talking of the win, DNEG Chairman and CEO Namit Malhotra said:

“For our teams to be recognized with the Oscar^® for ‘Best Visual Effects’ for their work on Dune is incredibly gratifying. As a life-long fan of cinema, I believe that the work of all the departments on this movie, from visual effects, to cinematography, editing, score, production design, costumes and all the other crafts, under the expert direction of Denis Villeneuve, delivers a wholly immersive experience that draws you into this incredible world and never, for one second, takes you out of it. We tend to think of VFX delivering ‘wow’ moments – for me, the whole world of Dune is one seamless ‘wow’ moment, and every time I re-watch the film, I find myself transported back to the very real and believable world of Arrakis, totally immersed in Denis’ vision and fully focused on the characters and the story that is playing out in this incredibly-realized environment. I believe that Dune sets a new standard for the use of visual effects to support visionary storytelling, and a new benchmark against which other films will be measured in the future.”

Malhotra continued, “This latest award marks our second Oscar^® for Best Visual Effects for one of Denis’ films, and our sixth Oscar^® win in the last eight years, which is a terrific validation of the creative and technical leadership of our teams here at DNEG. Of course, our contribution would not have been possible without the vision and leadership of Denis and the talents of Paul Lambert, Greig Fraser and other key members of the filmmaking team. Special thanks also to Josh Grode, Mary Parent and the Legendary Entertainment team, and to everyone at Warner Bros., for the opportunity and privilege of being part of this very special crew. I salute you all for your drive and conviction in bringing this compelling and immersive story to the big screen.”

Past films featuring DNEG-led VFX work that have won the Academy Award^® for Best Visual Effects include Tenet (2021), First Man (2019), Blade Runner 2049 (2018), Ex Machina (2016), Interstellar (2015) and Inception (2011).

DNEG’s Academy Award^® for its VFX work on Dune serves as a crowning achievement on a record-breaking awards season for the company. The VFX and animation powerhouse also earned a British Academy of Film and Television Arts (BAFTA) award for Special Visual Effects for its VFX work on Dune as well as seven Visual Effects Society (VES) awards for its VFX work on Dune, Last Night in Soho and “Foundation.”

On January 25, 2022, DNEG announced its entry into a definitive business combination agreement with Sports Ventures Acquisition Corp. (Nasdaq: AKIC). Upon the closing of the business combination, which is expected in the first half of 2022, the combined public company will be named DNEG. For more information about the transaction, please visit https://investors.dneg.com/.

About DNEG

DNEG (www.dneg.com) is one of the world’s leading visual effects (VFX) and animation companies for the creation of feature film, television, and multiplatform content. DNEG employs nearly 7,000 people with worldwide offices and studios across North America (Los Angeles, Montréal, Toronto and Vancouver), Europe (London) and Asia (Bangalore, Chandigarh, Chennai and Mumbai).

DNEG’s critically acclaimed work has earned the company seven Academy Awards^® for Best Visual Effects and numerous BAFTA and Primetime EMMY^® Awards for its high-quality VFX work. Current and upcoming DNEG projects on behalf of its Hollywood and global studio and production company partners include “Stranger Things” (season 4) (May 2022), Bullet Train (July 2022), Shazam! Fury of the Gods (December 2022), Borderlands (2022), Knives Out 2 (2022), The Last of Us (2022), The School for Good and Evil (2022), Super/Natural (2022), Aquaman and the Lost Kingdom (March 2023), Haunted Mansion (March 2023),The Flash (June 2023) and Meg 2: The Trench (August 2023).

About Sports Ventures Acquisition Corp.

Sports Ventures Acquisition Corp. is a blank check company organized with the purpose of effecting a merger similar business combination with a major entertainment powerhouse. Sports Ventures Acquisition Corp. is led by Alan Kestenbaum, businessman and minority owner of the Atlanta Falcons of the NFL. Other leadership members include Robert Tilliss, who brings with him extensive sports and arena expertise, Daniel Strauss, and Steve Horowitz.

Additional Information About the Transaction and Where to Find It

This communication may be deemed to be solicitation material with respect to the proposed transaction for Sports Ventures Acquisition Corp. to acquire Prime Focus World NV. In connection with this proposed transaction, Sports Ventures Acquisition Corp. will file a definitive proxy statement with the SEC, which will be sent to the shareholders of Sports Ventures Acquisition Corp. Sports Ventures Acquisition Corp. will also file other documents regarding the proposed transaction with the SEC. This communication does not contain all the information that should be considered concerning the proposed transaction. It is not intended to provide the basis for any investment decision or any other decision in respect to the proposed transaction. SHAREHOLDERS OF SPORTS VENTURES ACQUISITION CORP. ARE URGED TO READ ALL RELEVANT DOCUMENTS FILED WITH THE SEC, INCLUDING THE DEFINITIVE PROXY STATEMENT, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. Investors and security holders will be able to obtain free copies of the proxy statement and all other relevant documents filed or that will be filed with the SEC by Sports Ventures Acquisition Corp. through the website maintained by the SEC at http://www.sec.gov.

The documents filed by Sports Ventures Acquisition Corp. with the SEC may also be obtained free of charge at Sports Ventures Acquisition Corp.’s website at https://www.sportsventuresacq.com or upon written request to Sports Ventures Acquisition Corp., 9705 Collins Ave 1901N, Bal Harbour, FL 33154.

Participants in Solicitation

Sports Ventures Acquisition Corp., Prime Focus World NV and their respective directors, executive officers and employees may be deemed to be participants in the solicitation of proxies from the holders of Sports Ventures Acquisition Corp. Class A Ordinary shares in respect of the proposed transaction. Information about the directors and executive officers of Sports Ventures Acquisition Corp. and their ownership of Class A Ordinary shares are set forth in its Annual Reports on Form 10-K for the fiscal year ended December 31, 2021, which was filed with the SEC on March 1, 2022, and its Reports on Form 8-K, which were filed with the SEC on April 6, 2021 and January 12, 2022, as modified or supplemented by any Form 3 or Form 4 since the date of that filing. Investors may obtain additional information regarding the interest of such participants by reading the preliminary proxy statement and the definitive proxy statement when available.

No Offer or Solicitation

This communication is for informational purposes only and is not intended to and does not constitute an offer to subscribe for, buy or sell, or the solicitation of an offer to subscribe for, buy or sell, or an invitation to subscribe for, buy or sell any securities or a solicitation of any vote or approval in any jurisdiction, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in which such offer, invitation, sale or solicitation would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, and otherwise in accordance with applicable law.

Forward-Looking Statements

This press release may contain statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact contained in this communication including, without limitation, statements regarding Sports Ventures Acquisition Corp.’s or Prime Focus World NV’s financial position, expected operating performance, business strategy and the plans and objectives of management for future operations; anticipated financial impacts of the proposed transaction; the satisfaction of the closing conditions to the proposed transaction; and the timing of the completion of the proposed transaction, are forward-looking statements. These statements are based on management’s current expectations and are subject to uncertainty and changes in circumstances. Investors are cautioned that any such forward-looking statements are not guarantees of future performance, results or events and involve risks and uncertainties, and that actual results or developments may differ materially from those in the forward-looking statements as a result of various factors, including financial community and rating agency perceptions of Prime Focus World NV, Sports Ventures Acquisition Corp. and their respective business, operations, financial condition and the industries in which they operate, the risk that the proposed transaction between Prime Focus World NV, and Sports Ventures Acquisition Corp. may not be consummated, and the factors described in the “Risk Factors” section of Sports Ventures Acquisition Corp.’s annual report on Form 10-K for the fiscal year ended December 31, 2021, which was filed with the SEC on March 1, 2022, the proxy statement discussed above and other documents filed by Sports Ventures Acquisition Corp. from time to time with the SEC. Prime Focus World NV and Sports Ventures Acquisition Corp. each disclaim any obligation to update any forward-looking statements contained herein.

Contacts

Media
Eric Becker, ICR

(303) 638-3469

DNEGPR@icrinc.com

Tony Bradley, DNEG

+44 (207) 268-5000

pr@dneg.com

Investors
Ashley DeSimone, ICR

(646) 677-1827

DNEGIR@icrinc.com

Brett Milotte, ICR

(332) 242-4344

DNEGIR@icrinc.com