Cineplex Inc. announced that it has closed its previously announced private placement offering of $575 million aggregate principal amount of 7.625% senior secured notes (the "Notes") due March 31, 2029 (the "Notes Offering"), as well as the other aspects of its comprehensive refinancing originally announced on February 8, 2024. Other elements of the Company's comprehensive refinancing plan which were also completed are as follows: The Company redeemed in full its existing 7.5% senior secured second lien notes due February 26, 2026 using a portion of the proceeds from the Note Offering. The Company repaid in full and terminated the eighth amended and restated credit agreement dated December 13, 2023 with The Bank of Nova Scotia using a portion of the proceeds from the Notes Offering.

The Company has also entered into a new $100 million "covenant-lite" revolving credit facility with a maturity date of March 4, 2027, with a syndicate of banks led by The Bank of Nova Scotia (the "New Credit Facility"). Amendments (the "Amendments") to the Company's 5.75% convertible unsecured subordinated debentures due September 30, 2025 (the "Convertible Debentures") have been approved in writing by holders of approximately 89% of the outstanding Convertible Debentures. Accordingly, the debenture holder meeting scheduled for March 14, 2024 in respect of the Amendments has been cancelled.

The first supplemental indenture giving effect to the Amendments (the "Supplemental Indenture") was executed on March 4, 2024. All of the Amendments are effective as of March 4, 2024, other than the change in interest rate from 5.75% to 7.75% and the re-designation of the Convertible Debentures to be "7.75% convertible unsecured subordinated debentures due March 1, 2030", which shall become effective as of April 1, 2024. The Amendments include a partial redemption of $100,000,000 principal amount of the Convertible Debentures on a pro rata basis (the "Partial Redemption").

The record date for the Partial Redemption is March 7, 2024 (the "Record Date") and the redemption date is March 11, 2024 (the "Redemption Date"). Only holders of Convertible Debentures on the Record Date will participate in the Partial Redemption. On the Redemption Date, approximately 31.6% of the Convertible Debentures held by holders on the Record Date will be redeemed for a total payment (per $1,000 principal amount of the redeemed Convertible Debentures) of approximately $1,049.11 (comprised of a principal repayment of $1,000, a premium of $23.50, and an interest payment of approximately $25.61).

Following completion of the Partial Redemption, there will be an aggregate of $216,250,000 principal amount of Convertible Debentures outstanding. The Partial Redemption will be funded using a portion of the proceeds from the Note Offering.