NASDAQ Ticker: DLPN   Dolphin ENTERTAINMENTInvestor Presentation   

 Cautionary Note on Forward-Looking Statements   This presentation contains forward-looking statements. These statements include statements about our plans, strategies, financial performance, prospects or future events and involve known and unknown risks that are difficult to predict. As a result, the actual results, performance or achievements of Dolphin Entertainment, Inc. (“Dolphin Entertainment,” “we,” “us,” “our,” and, together with our subsidiaries and variable interest entities, the “Company”) may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “will,” “would,” and variations of these terms and similar expression, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by the Company and its management team based on their experience are inherently uncertain. All statements in this presentation regarding our business strategy, future operations, financial position, prospects, business plans and objectives, as well as information concerning industry trends and expected actions of third parties, are forward-looking statements. All forward-looking statements speak only as of the date as of which they are made. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions concerning future events that are difficult to predict. The following factors, among others, could cause actual results to differ materially from those set forth in this presentation:our ability to realize the anticipated benefits of the 42West acquisition, including synergies, expanded interrelated service offerings, growth and increased revenues;our ability to accurately predict 42West’s clients’ acceptance of our differentiated business model that offers interrelated services;our ability to profitably exploit the transferability of 42West’s skills and experience to related business sectors;our ability to successfully identify and complete acquisitions in line with our growth strategy, and to realize the anticipated benefits of those acquisitions;our ability to accurately interpret trends and predict future demand in the digital media and film industries;our ability to repay our P&A Loan in accordance with the terms of the agreement so that we will be able to continue to receive revenues from Max Steel;adverse trends and changes in the entertainment or entertainment marketing industries that could negatively impact 42West’s operations and ability to generate revenues;unpredictability of the commercial success of our current and future web series and motion pictures;economic factors that adversely impact the entertainment industry, as well as advertising, production and distribution revenue in the online and motion picture industries;our ability to identify, produce and develop online digital entertainment and motion pictures that meet industry and customer demand;competition for talent and other resources within the industry and our ability to enter into agreements with talent under favorable terms;our ability to attract and/or retain the highly specialized services of the 42West executives and employees and our CEO;availability of financing from our CEO and other investors under favorable terms;our ability to adequately address material weaknesses in internal control over financial reporting; anduncertainties regarding the outcome of pending litigation. A more complete description of these risks and uncertainties can be found in the flings of the Company with the U.S. Securities and Exchange Commission. We caution you not to place undue reliance on any forward-looking statements, which are made as of the date hereof or as otherwise specified herein. The Company undertakes no obligation to update any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable law. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forwarding-looking statements. 

 Investment Highlights  42West Consistently Profitable Since Inception  Entertainment PR/Marketing Acquisition Opportunities at Accretive Valuations  42West clients include hundreds of A-list celebrities and all 7 major studios Highly predictable revenue from broad customer base: $18.6m FY 2016; $15.1m 9 mos. 2017  Leveraging 3rd party Capital to Produce High Quality Family Content  Vertically integrate Entertainment PR/Marketing service businesses to offer a one-stop shop  Long established producer of family entertainmentProducer fees reduce capital investment per project to offer risk adjusted upside optionality  Pure-Play Beneficiary of Surging Entertainment Content and Marketing Budgets 

 Company Overview  As of March 1, 2018Gross proceeds of $5,011,875 from public offering closed 12/26/17As of 9/30/ 2017Enterprise value was calculated by the sum of the market cap at March 1, minus cash at 9/30/17 and minus cash raised 12/26/17, plus the debt as of 9/30/17.   FINANCIAL SNAPSHOT    Ticker  NASDAQ: DLPN – Uplisted Dec 21, 2017  Stock Price(1)  $3.38  Common Stock Outstanding(1)  11.2 million   Market Cap(1)  $37.86 million  Warrants Outstanding(1)  3.1 million  Warrants Weighted Avg. Exercise Price(1)  $5.09         Cash(2)  $2.0 million at 9/30/17;      $5.0 million raised 12/26/17   Debt(3)  $9.8 million  Enterprise Value(4)  $40.66 million 

   Executive Leadership  Industry leaders across the entertainment landscape  BILL O’DOWD | Chairman and CEOFounded Dolphin Entertainment in 199520 years of experience in the entertainment and digital media industriesEmmy-nominated producer, international distributor, and financier of quality TV and digital programming  LESLEE DART | Co-CEO, 42WestFounded 42West in 2004Previously at Rogers & Cowan, PMKPublicity campaigns for over 300 films and TV shows, including The Wolf of Wall Street, HBO’s True Detective  AMANDA LUNDBERG | Co-CEO, 42WestPreviously ran Worldwide PR for both MGM and The Weinstein CompanyHundreds of publicity, festival and Academy Awards campaigns including HBO’s The Jinx, Mission: Impossible Rogue Nation, The Martian  MIRTA A. NEGRINI | CFO and COOServed as CFO and COO of Dolphin Entertainment since 201330+ years of experience in private and public accountingPreviously partner of Gilman & Negrini, P.A.   ALLAN MAYER | Director & Co-CEO, 42WestPreviously at Sitrick, former journalist/publisher/author at WSJ, Newsweek and Simon & SchusterAdvisor to media companies, sports franchises, entertainment luminaries 

 Attractive Market Opportunity  $25B+in marketing spend to promote content(2)  $50B+in content budgets across Film, TV, Digital(1)  New entrants committed to content: Netflix ($8B), Amazon ($4.5B), Hulu ($1.5B), Facebook ($1B) and Apple ($1B)  Positioned to Capitalize on the “Golden Age of Content”  Source: Collection of reports from Time Warner, Viacom, Disney, Sony, Comcast/NBC/Universal, Lionsgate, Netflix, New York Times, filmla.comSource: TechCrunch and Management estimates; assumes 25% of $79B TV Ad Spend for 2015 devoted to support content, plus estimated $5 billion of spend on film 

 42West: Revenue Mix  Diversified, highly visible revenue streams serving rapidly expanding entertainment content budgets  Talent ($5-15k per client per month)Entertainment Marketing ($25-500k per project)Strategic Communications ($10-50k per client per month)  2016 REVENUE BY SERVICE OFFERING  

   42West: Our Client Roster  42West represents more than 250 of the biggest names in entertainment  Alanis MorissetteBob OdenkirkCara DelevingneCharlize TheronChristine TeigenConan O'BrienDemi LovatoDemi MooreDiane KrugerDr. DreEddie RedmayneEllen PompeoEmma StoneFrancis Ford CoppolaGabrielle UnionHalle BerryHayden PanettiereIdris ElbaJennifer GarnerJessica BielJoe JonasJohn LegendJohnny KnoxvilleJude Law  Kerry WashingtonKhloe KardashianKylie JennerMaggie GyllenhaalMartin ScorseseMeryl StreepMichael JordanMindy KalingNeil DiamondNicole KidmanPenelope CruzPharrell WilliamsQueen LatifahReese WitherspoonRicky GervaisRihannaRosario DawsonSara BareillesSofia VergaraTaraji P. HensonTom CruiseTom HanksWill SmithWoody Allen  Hundreds of Oscar and Emmy winners and nomineesTV and film, major recording artists, models, theatre actors, directors, authors, producers and athletes 

 42West: Our Corporate Clients  Industry-leading list of corporate clients across the entertainment industry     Studios All seven major studios and every major independent film distributor Television Every foremost subscription-video-on-demand serviceDigital Disruptors Several leading digital platforms, including the world’s largest social network 

       42West: Industry Leading Accolades  More award winners than any other firm since founding    5 Academy-Award Best Picture Winners  Blockbuster Films  Grammy Award Winning Musicians 

 42West: Accretive M&A Growth Opportunity  Highly fragmented landscape with opportunities to vertically integrate service companies at accretive valuations  Social Media Marketing Firms  Event Marketing Firms  Entertainment Research Firms  PR Agencies in other verticals 

       Content Strategy Built on Founder Track Record  CEO led production and distribution of highly successful children's TV programs(1)  Nickelodeon's highest- rated show Emmy nominated100+ SKU’s in retail  Hit Nickelodeon propertyTremendous re-run successCareer launch pad for cast  Stars Molly Ringwald and Jason Priestley Premiered Mother’s Day 2016 on Family Channel CanadaWon 2017 KidScreen Award for Best New Tween/Teen Series(3)  Emmy-nominated producer of world class televisionDistributed in over 100 countries (2)1st unscripted show, premiered on the Oprah Winfrey Network  Shows represented were developed by private, predecessor company to Dolphin Entertainment that was owned and operated by Bill O'DowdSources: BusinessWire and NewBay Media(3) Global children's television’s highest honor 

       Anticipated Film Slate  Disciplined budgets with strong promotional hooks and partners  Remake of iconic 1986 MGM hockey movieStarred Rob Lowe, Patrick Swayze, Keanu Reeves  Female driven Rom-Com centered around fantasy football seasonPromotional partnership with the NFL  Female driven teen Romantic ComedyFocused on the wildly popular trend of over-the-top prom proposals 

 Sample Film Revenue Waterfall  (1) Other revenue streams include US home video, Video on Demand, Pay-per-view, electronic sell-through, pay TV, subscription video on demand, Network/Free TV (Basic Cable, etc.). (2) Total Distribution costs include the distributor's fee, US home video costs and residuals.(3) Assumes that $6MM of cash will be needed for the production of the film., net of incentive tax credits and international sales.(4) Average of Wide-Release, PG/PG-13 Films by Independent Distributors between 2012-2016(5) For illustrative purposes only. Actual budgets may vary widely.   Fixed production risk per film of $6M (*With $3M provided by Producer)Controlled budgets allow for strong ROI at average box office resultsCommercial properties with strong marketing hooks will maximize 42West PR and marketing capabilities, providing opportunities for “hit” outcomes   *Values in Thousands (000)       AVERAGE(4)            US Box Office   $25,000  $30,000  $34,000  $40,000  $45,000  $50,000  $75,000  $100,000  Gross Theatrical Revenue  10,750  13,200  15,300  18,000  20,700  23,000  36,000  48,500  All Other Revenue(1)  24,500  28,825  32,235  37,875  41,975  45,975  63,125  79,625  Gross Distributor Revenue  35,250   42,025   47,535   55,875   62,675   68,975   99,125   128,125   Total distribution costs(2)  (10,384)  (12,285)  (13,848)  (16,284)  (18,183)  (20,021)  (28,622)  (36,999)  Prints & advertising (P&A) Costs  (20,000)  (20,000)  (20,000)  (20,000)  (20,000)  (20,000)  (20,000)  (20,000)  Interest on P&A costs  (2,000)  (2,000)  (2,000)  (2,000)  (2,000)  (2,000)  (2,000)  (2,000)  Gross Producer Revenue  2,866   7,740   11,687   17,591   22,492   26,954   48,503   69,126   Recoupment of equity investment(3)  (3,134)  (6,000)  (6,000)  (6,000)  (6,000)  (6,000)  (6,000)  (6,000)  Interest on equity investment  -   (600)  (600)  (600)  (600)  (600)  (600)  (600)  Gross Profits  -   1,140   5,087   10,991   15,892   20,354   41,903   62,526   Other profit participants (50%)  -   (570)  (2,544)  (5,496)  (7,946)  (10,177)  (20,952)  (31,263)  PRODUCER PROFITS (50%)    570   2,544   5,496   7,946   10,177   20,952   31,263   Indicative Potential Payout Scenarios for Producers 

 Financial Summary  Pro forma income statement balances are presented as if acquisition of 42West had occurred on January 1, 2017 instead of March 30, 2017.Net income includes gains from extinguishment of debt and changes in the fair value of warrant and other derivative liabilitiesDoes not include gross proceeds of $5,011,875 from public offering closed December 26, 2017  Pro Forma Income Statement and Consolidated Balance Sheets (1)(unaudited)  USD  Consolidated Pro Forma for the nine months ended September 30, 2017(1)  Revenue  $19,862,073  Operating Costs  $18,193,799  Operating Income  $1,668,274  Net Income(2)  $10,714,571  USD  As of September 30, 2017  Cash(3)  $1,957,235  Total Assets  $33,762,220  Debt  $9,823,713  Total Liabilities  $31,028,526  Shareholders’ Equity  $2,733,694 

 Significant Insider Beneficial Ownership  Insider Beneficial Ownership As Of March 1, 2018   DIRECTORS  COMMON STOCK  % OUTSTANDING  Bill O’Dowd (President & CEO)  1,802,843  15.9%  Michael Espensen  278  *  Nelson Famadas  1,993  *  Allan Mayer (Co-CEO of 42West)  473,252  4.2%  Mirta A Negrini (CFO)  -  *  Justo Pozo  1,215,332  10.8%  Nicholas Stanham  38,434  *  All Directors  3,532,131  29.9%  5% HOLDERS      Stephen L. Perrone  2,050,000  17.9%  T Squared Partners LP  1,160,231  9.9%  Alvaro and Lileana de Moya  603,742  5.3% 

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