ANNUAL REPORT 2017 33 All figures in this 2017 report are in USD and have been rounded to simplify reading. The consolidated financial information presented is derived from the 2017 financial statements for each of the 14 independent SAT-7 legal entities. The financial statements for SAT-7 International legal entities in Cyprus are audited by KPMG Ltd, Certified Public Accountants and Registered Auditors. KPMG has also reviewed the principles used in the preparation of this summary of consolidated financial information. Detailed consolidated financial statements and/or detailed audited accounts for each of the different legal entities of SAT-7 are available on request. Investments in fixed assets are included in the 2017 actual expenses. 2017 ACTUAL EXPENSES BY TYPE TOTAL EXPENDITURE $16,247,000 (excluding gifts in kind) SAT-7 ARABIC $5,072,000 31% SAT-7 TÜRK $3,055,000 19% SAT-7 ACADEMY $920,000 6% SAT-7 PARS $3,781,000 23% SAT-7 KIDS $3,418,000 21% 2017 ACTUAL EXPENSES BY CHANNEL TOTAL EXPENDITURE $16,247,000 (excluding gifts in kind) Investments in Fixed Assets $796,000 5% Fundraising $1,687,000 10% Marketing & Communications $1,319,000 8% Other Operational Expenses $1,888,000 12% Finance & Legal, HR & Corporate Governance $1,635,000 10% Audience Relations & Research $416,000 2% Broadcasting & IT $2,370,000 15% Programming & Production $5,684,000 35% Program Acquisition $452,000 3% Restricted Income – Airtime $79,000 1% Restricted Income – Other $71,000 0% Restricted Income – Staff Support $397,000 3% Restricted Income – Investments in Fixed Assets $67,000 0% Restricted Income – Programming $5,631,000 36% Gifts in Kind & Value Seconded Staff $1,200,000 8% Other Operating Income $673,000 4% Partnership/Associates Fees $343,000 2% General Income $7,191,000 46% 2017 ACTUAL INCOME BY TYPE TOTAL INCOME $15,652,000 (including gifts in kind)