From the Desk of Irwin Michael – April 8, 2016

Six Flags Entertainment Corp. is a theme park operator across North America that offers rides, water park attractions, concerts, game venues, and retail outlets. We believe that Six Flags is an attractive investment for a number of reasons. Firstly, the company is a strong free cash flow generator and is using excess capital to fund a 3.8% dividend yield, buy back common stock, and expand its operations. Secondly, the company has an impressive track record of growing revenues and earnings. We believe that this can be attributed to Six Flags’ attractive assets such as Six Flags Great America in Gurnee, Illinois and Magic Mountain in Los Angeles. We are very impressed with the company’s able management team and consequently, it is our opinion that Six Flags should continue to outperform as it expands operations internationally and further grows its cash flow.

Irwin A. Michael Signature

Irwin A. Michael, President
I.A. Michael Investment Counsel Ltd.

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