DNEG Wins Big at Visual Effects Society Awards with Seven Honors

Visual Effects Leader Honored with Awards for Work on ‘Dune,’ ‘Last Night in Soho’ and ‘Foundation’

LONDON–(BUSINESS WIRE)–DNEG, a leading technology-enabled visual effects (VFX) and animation studio for the creation of feature film, television and multiplatform content, received seven Visual Effects Society (VES) Awards at the 20^th Annual VES Awards which took place at the Beverly Hilton Hotel in Los Angeles.

Four of DNEG’s seven awards honored DNEG’s VFX work on Denis Villeneuve’s Dune, including the main award for “Outstanding Visual Effects in a Photoreal Feature,” which was presented by Villeneuve himself. DNEG also received two awards for its work on the Apple TV+ drama “Foundation,” as well as the award for “Outstanding Supporting Visual Effects in a Photoreal Feature” for DNEG’s VFX work on Edgar Wright’s Last Night in Soho.

DNEG’s dominant and expansive awards haul on the evening provides further evidence of the company’s leading capabilities in the visual effects and animation industries. This year’s extraordinary levels of success and the recognition of the Visual Effects Society add to DNEG’s impressive list of recent and historical accolades. This year’s seven VES awards bring DNEG’s all-time total to 18.

“Thank you to the Visual Effects Society for honoring the incredible work of our teams and congratulations to all of our winners, collaborators, global teams and clients on this epic achievement,” said DNEG Chairman and CEO Namit Malhotra. “It is important to note that these projects were all in production during the pandemic. Despite the challenges of finding new ways of working in this incredibly difficult time for the world, DNEG has produced work of a quality that has been recognized as outstanding by the VES – an industry body that provides a detailed and comprehensive gauge of the technology and artistry that makes this work so special. This, alongside the unprecedented number of awards that we won last night, is a massive testament to the capabilities of our teams, and the trust of our customers that DNEG will always deliver their vision to the highest possible standard. It is also a huge validation of DNEG’s ambitious growth plans as we go from strength-to-strength, scaling our business, and delivering great results across all of our global teams.”

DNEG’s complete 2022 Visual Effects Society Award winners are:

Outstanding Visual Effects in a Photoreal Feature

• [WINNER:] Dune – Paul Lambert, Brice Parker, Tristan Myles, Brian Connor, Gerd Nefzer

Outstanding Supporting Visual Effects in a Photoreal Feature

• [WINNER:] Last Night in Soho – Tom Proctor, Gavin Gregory, Julian Gnass, Fabricio Baessa

Outstanding Visual Effects in a Photoreal Episode

• [WINNER:] Foundation; The Emperor’s Peace – Chris MacLean, Addie Manis, Mike Enriquez, Chris Keller, Paul Byrne

Outstanding Model in a Photoreal or Animated Project

• [WINNER:] Dune; Royal Ornithopter – Marc Austin, Anna Yamazoe, Michael Chang, Rachael Dunk

Outstanding Effects Simulations in a Photoreal Feature

• [WINNER:] Dune; Dunes of Arrakis – Gero Grimm, Ivan Larinin, Hideki Okano, Zuny An

Outstanding Effects Simulation in an Episode, Commercial, or Real-Time Project

• [WINNER:] Foundation; Collapse of the Galactic Empire – Giovanni Casadei, Mikel Zuloaga, Steven Moor, Louis Manjarres

Outstanding Compositing & Lighting in a Feature

• [WINNER:] Dune; Attack on Arrakeen – Gregory Haas, Francesco Dell’Anna, Abhishek Chaturvedi, Cleve Zhu

DNEG served as lead VFX partner on each of the above projects, with work completed throughout its worldwide studios.

DNEG’s VFX work on Dune and No Time to Die has also earned two Academy Awards^® nominations for Best Visual Effects this year, and its VFX work on Dune, Ghostbusters: Afterlife, The Matrix Resurrections and No Time To Die has earned four BAFTA nominations in the Special Visual Effects category.

Prior to 2022, DNEG has won six BAFTA awards, 11 VES awards and three Primetime EMMY^® awards, as well as six total Academy Awards^®, including five of the last seven, for Tenet (2021), First Man (2019), Blade Runner 2049 (2018), Ex Machina (2016), Interstellar (2015) and Inception (2011).

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 six 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), The Flash (November 2022), Aquaman and the Lost Kingdom (December 2022), Borderlands (2022), Knives Out 2 (2022), The Last of Us (2022), The School for Good and Evil (2022), Super/Natural (2022), Haunted Mansion (March 2023) and Shazam! Fury of the Gods (June 2023).

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 relevant materials with the SEC, including a proxy statement on Schedule 14A. 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. STOCKHOLDERS OF SPORTS VENTURES ACQUISITION CORP. ARE URGED TO READ ALL RELEVANT DOCUMENTS FILED WITH THE SEC, INCLUDING THE PROXY STATEMENT, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. Investors and security holders will be able to obtain the documents free of charge at the SEC’s web site, http://www.sec.gov, and Sports Ventures Acquisition Corp. stockholders will receive information at an appropriate time on how to obtain transaction-related documents free of charge from Sports Ventures Acquisition Corp. Such documents are not currently available.

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, which was filed with the SEC on March 30, 2021, 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 proxy statement regarding the proposed transaction when it becomes available.

Prime Focus World NV and its directors, executive officers and employees may also 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. A list of the names of such directors, executive officers and employees and information regarding their interests in the proposed transaction will be included in the proxy statement for the proposed transaction 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.

Non-GAAP Measures

This press release includes projections of certain financial measures not presented in accordance with generally accepted accounting principles (“GAAP”) including, but not limited to, adjusted EBITDA and certain other metrics derived therefrom. Due to the high variability and difficulty in making accurate forecasts and projections of some of the information excluded from these projected measures, together with some of the excluded information not being ascertainable or accessible, DNEG is unable to quantify certain amounts that would be required to be included in the most directly comparable GAAP financial measures without unreasonable effort. Consequently, no disclosure of estimated comparable GAAP measures is included and no reconciliation of the forward-looking non-GAAP financial measures is included.

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 Sports Ventures Acquisition Corp.’s filings with the Securities and Exchange Commission, including the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” contained therein. Prime Focus World NV and Sports Ventures Acquisition Corp. each disclaim any obligation to update any forward-looking statements contained herein.

Contacts

Eric Becker

ICR for DNEG

(303) 638-3469

DNEGPR@icrinc.com

Tony Bradley

DNEG

+44 207 268 5000

pr@dneg.com