Lionsgate Studios Corp.: auditor change — Lionsgate Studios discloses non-reliance on prior cash flow statements due to $118.7 million mathematical error

Lionsgate Studios Corp.

• Mathematical error in combined cash flow statement for FY ended March 31, 2022: net cash from financing, net change in cash, and ending cash each decreased by $118.7 million
• Management, after discussion with Audit & Risk Committee and auditor Ernst & Young LLP, concluded on Oct 10, 2024 that prior financial statements should no longer be relied upon
• Company filed Amendment No. 2 to 8-K and Post-Effective Amendment No. 1 to S-1 on Oct 15, 2024 to correct the error
• Error originally appeared in Exhibit 99.1 of Amendment No. 1 to Form 8-K/A filed May 30, 2024 and in the prospectus of the Original S-1 Filing
• Audit & Risk Committee discussed the matter with management and independent registered public accounting firm