CORRECTION: Kartoon Studios To Receive $50M Under Settlement Agreement With Additional Party In Augenbaum V. Anson Investments Master Fund Case; Litigation Continues Against Two Remaining Defendants In Southern District Of New York

Kartoon Studios, Inc.

Kartoon Studios, Inc.

TOON

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On June 11, 2026, the Company entered into a settlement agreement with an additional party (the "Settling Party") in the action captioned Augenbaum v. Anson Investments Master Fund LP et al., Case No. 1:22-CV-00249-AS, pending in the United States District Court for the Southern District of New York. The Settling Party agreed to pay the Company aggregate settlement payments of $50,00,000 minus fees and expenses of plaintiff's counsel, subject to certain terms and conditions and the parties agreed to mutual releases. On June 11, 2026, the court approved the settlement agreement entered into with such additional Settling Party. With this approval, the court has now approved all of the settlement agreements entered into with the settling parties. The action continues against the two remaining defendants,who have not settled.

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