Cinemark : Investor Presentation - Q4 2019

INVESTOR PRESENTATION

Q4 2019

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COMPANY OVERVIEW

3

Cinemark Domestic Theatres

345 Theatres

4,645 Screens

42States

105 DMAs

#1 or #2

in ~80% of our top 25 markets

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1) Ranking based on box office revenues as of 12/31/19.

Cinemark International Theatres

209 Theatres

1,487 Screens

15	26
Countries	Years operating
	experience

14 ~30%

of the top 20 largest metropolitan areas in South America

Market share

In key

countries

5	Ranking based on box office revenues as of 12/31/19

Broad and Leading Presence in the Americas

Strong and expansive presence strategically important for film distribution and

to potential Pan-Regional promotional partners

Strong Americas Presence

Approximate Market Share 1

		Years in
As of 12/31/19	Country	Theatres	Screens	Rank (1)
USA	33	345	4,645	#3
Brazil	23	86	633	#1
Argentina	22	22	191	#1
Chile	26	19	127	#2
Colombia	20	36	207	#2
Peru	22	14	102	#2
Ecuador	22	8	51	#3
Central America	22	21	147
Bolivia	5	1	13
Curacao	4	1	6
Paraguay		3	1	10

554 6,132

Brazil

Argentina

Chile

37%27%

15%

5% 6% 10%

20%	37%
7%
8%
13%	15%
	4%

16%	35%

45%

CINEMARK

CINEPOLIS

KINOPLEX

ARAUJO

UCI

OTHERS

CINEMARK

CINEPOLIS

NAI

LUMIERE

CINEMACENTER OTHERS

CINEMARK

CINEPOLIS

CINEPLANET

OTHERS

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1) FY 2019 based on box office

Exhibition Industry Trends

Stable, long-term industry growth trends across technology innovations and economic cycles

North America Industry Box Office Trends

Recession year							Recliners and
			DVD player	Digital projector conversion	enhanced food
					drops to$100	Investments ...
					(DVD hey-day)		Mass OTT streaming adoption ...
						Financial
					Exhibition	crisis
					bankruptcies/
				Megaplex and	consolidation
				stadium seating
			Internet begins
			to go mainstream
	VHS begins
	to ramp				1.57B patrons
	post beta-max					1.38B patrons
						1.3B patrons
$2.8B		1.1B patrons						$11.4B
1979	1984	1989	1994	1999	2004	2009	2014	2019
	VCR			Internet	DVD		Streaming

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Sources: North America: Rentrak, NATO

Consistent Industry Outperformance

39 out of 44 quarters of North American industry out-performance

2014 - 2019 Admission Revenue Growth (1)

22.9%

C$	17.3%
U.S.
Worldwide
	10.1%

North

American

Industry

CNK WW Adjusted EBITDA Growth (1, 2)

$745.0

	$
$550.9	Constant

20142019 Constant $

Source: MPAA and Public Filings.

1. As of December 31, 2019. 10% WW growth in USD as reported. Constant currency is a non-GAAP measurement calculated using the average exchange rates for the corresponding months for 2019. We translate results of our international operating segment from local currencies into U.S. dollars using currency rates for respective reporting periods. Significant changes in foreign exchange rates from one period to the next can result in meaningful variations in reported results. We provide constant

8	currency amounts to compare performance without the impact of foreign currency fluctuations.

1. Adjusted EBITDA has been presented including all cash distributions from equity investees for all year presented

2020 Notable Film Titles

Q1
Universal	Sony	Warner Bros.	Disney
Q2		Disney	Universal	Wonder Woman
	United Artist	Warner Bros.

Q3

Universal

Sony

Warner Bros.

Disney

Steven Spielberg's

Q4

Sony

Disney

Disney

Fox

ParamountDisney

"Top Gun"

DisneyParamount

"Spider-Man Universe"
Sony	Warner Bros.

Universal

Warner Bros.

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2021 Films Announced To-Date

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STRATEGIC INITIATIVES

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Strategic Initiatives

Objective:Attract and build attendance to maximize box office while pursuing

opportunities to capture incremental ancillary revenues

1	Create an extraordinary in-
theatre guest experience
2	Deepen and extend the overall
guest engagement
3	Actively pursue organic and
synergistic growth opportunities

… While maintaining the strength and flexibility of our balance sheet

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Luxury Lounger Recliner Seats

YE 2019:

60%

of U.S. circuit

Est. YE 2020:

~64%

of U.S. circuit

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World's #1 Exhibitor Premium Large Format Brand

4%	9% (1)
Worldwide Screens	Worldwide Box Office

275	77%(2)	100%(3)
Global XD Auditoriums	Feature Luxury Loungers	THX Certified

14 1) FY19

1. 77% of US auditoriums
2. Latin America certification in-process

Enhanced Food & Beverage Tactics

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Consecutive Quarters

US Food & Beverage

per Patron Growth

US F&B Per Cap Growth

+81% $5.31

$3.65

~75%	$2.94
Expanded F&B

~50%	2009	2014	2019
Alcohol Activation

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US F&B stats

Evolution of Loyalty Program

Even higher level of engagement

Dollar-based point system

Compelling benefits & rewards

Simplified loyalty messaging

Personalized experiences

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	MEMBER BENEFITS	FREE!	$8.99/month(1)
	Earn 1 Point for Every $1 Spent		
	Redeem Points for Tickets		
	and More Rewards
	Member Access to Screenings		
	& Advance Tickets
	Free Birthday Reward		
	Free Large Popcorn &		
	Drink Refills
	Exclusive Member Offers		
	1 Ticket Per Month		
	20% off Concessions		
	Waived Online Fees		
	Unused Tickets Roll Over		
	Member Pricing for		
	Additional Tickets

1. Movie Club priced at $9.99/month in select markets

Progress since December 5, 2017 launch…

950K	38M	~17%
Active members =	Cumulative tickets	of 4Q19 box office
2700 members/theater	sold via Movie Club

	3x	80%	90%+
	Member visits relative	Movie credits	Member satisfaction
	to non-members	redeemed to-date
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Information as of 2/21/2019

FINANCIALS

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Capital Allocation Strategy

We continue to favor an approach of prioritizing balance sheet strength and pursuing

investments to grow and secure the long-term viability of Cinemark

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2

Maintain balance sheet strength to preserve flexibility and risk management

Invest in strategic/financially accretive growth and ensuring future success

Execution	New theater	Accretive	Other ROI	Maintain
of strategic	generating	quality of
construction	M&A
initiatives	investments	circuit

Distribute excess capital to shareholders to maximize long-term shareholder value

Annual Dividend History1

3				$1.36	$1.44
	$1.16	$1.28			+33% increase in annual
$1.08						dividend from 2016 to 2020
2016	2017	2018	2019	2020

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1) As expected. Based on paid date

Capital Structure

Significant cash reserves

Ability to take advantage of growth opportunities as they arise

$'s in millions	Dec. 31, 2019
Long-term Debt, including current maturities:
Senior Secured Credit Facility	$	646.3
4.875% Senior Notes due 2023	$	755.0
5.125% Senior Notes due 2022	$	400.0
Finance Lease Obligations	$	156.4
Total Debt	$	1,957.8
Cash and Cash Equivalents	$	488.3
Net Debt	$	1,469.5
TTM Adj. EBITDA (1)	$	745.0
Net Debt / Adj. EBITDA			2.0x

No near-term debt maturities

Covenant-lite debt

20	Note: The Company has 98.9mm available on its revolver.
	1) TTM Adjusted EBITDA thru 12/31/2019. Adjusted EBITDA reconciliation available in 10K and earnings release and at investors.cinemark.com

Solid Recent Results

Year Ended December 31,

$'s in millions

2019

2018

2017

Revenues

U.S.	$	2,580.9	$	2,539.0	$	2,222.1
International				702.2		682.8		769.5
Worldwide Revenues			$	3,283.1	$	3,221.8	$	2,991.6

Adjusted EBITDA (1)

U.S.	$	615.2	$	648.6	$	558.2
International				129.9		132.9		165.6
Worldwide Adj. EBITDA			$	745.0	$	781.5	$	723.8
WW Adj. EBITDA Margin (2)					22.7%		24.3%		24.2%

1. As reported in USD. The adoption of ASC Topic 842, effective Jan 1, 2019, impacted how we record certain expenses. See Note 3 to our financial statements as included in our Form 10K filed on February 21, 2020 ,in addition to Form 8K filed May 7, 2019. Additionally, the adoption of ASC Topic 606, effective Jan 1, 2018, impacted how we record certain revenues. See Note 3 to our financial statements as included in our Form 10K filed February 28, 2019.

Adjusted EBITDA represents net income before income taxes, interest expense, interest income, foreign currency exchange gain (loss), interest expense - NCM, equity in income of affiliates, loss on debt amendments and refinancing, other cash distributions from equity investees, depreciation and amortization, impairment of long-lived assets, loss on disposal of assets and other, changes in deferred lease expense, non-cash rent expenses, amortization of long-term prepaid rents and share based awards compensation expense. Adjusted EBITDA is a non-GAAP financial measure commonly used in our industry and should not be construed as an alternative to net income as an indicator of operating performance or as an alternative to cash flow provided by operating activities as a measure of liquidity (as determined in accordance with GAAP). Adjusted EBITDA may not be comparable to similarly titled measures reported by other companies. We have included Adjusted EBITDA because we believe it provides management and investors with additional information to measure our performance and liquidity, estimate our value and evaluate our ability to service debt. In addition, we use Adjusted EBITDA for incentive compensation purposes. See reconciliation of net income, the most directly comparable GAAP measure, to Adjusted EBITDA in the 10K filed on February 21, 2020 or at investors.cinemark.com.

2) Adjusted EBITDA margin is calculated by dividing Adjusted EBITDA by Worldwide Revenues

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Thank You

Contact: Chanda Brashears VP Investor Relations

[e-mail] [phone]