Cineplex : The Rec Room Tour Investor Presentation

© Cineplex Inc., This document is confidential and may not be shared, distributed or reproduced without permission.

This presentation has been prepared for informational purposes only. By accepting delivery of this presentation and/or attending the meeting where this presentation is made, you agree: (1) to keep strictly confidential the contents of this presentation and such other information and not to disclose such document, the contents thereof or any such information to any third party; (2) not to copy all or any portion of this presentation, or any such other information; and (3) to return this presentation and all such other documents and information to Cineplex Inc. ("Cineplex" or the "Company") upon its request.

These materials are not, and in no circumstances are they to be construed as, a prospectus, an offering memorandum, an advertisement, or a public offering of securities. In addition, these materials do not form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, or any offer to underwrite or otherwise acquire any securities of the Company or any other securities, nor shall they or any part of them nor the fact of their distribution or communication form the basis of, or be relied on in connection with, any contract, commitment or investment decision in relation thereto, nor does it constitute a recommendation regarding the securities of the Company. No securities regulatory authority or similar authority has reviewed or in any way passed upon the document or the merits of these securities and any representation to the contrary is an offence.

No reliance may be placed for any purposes whatsoever on the information contained in these materials or on their completeness. No representation or warranty, express or implied, is given by or on behalf of the Company, any agent of the Company or any of such persons, directors, officers or employees or any other person as to the accuracy or completeness of the information contained in these materials and no liability whatsoever is accepted by the Company, any agent of the Company or any of such persons, directors, officers or employees nor any other person for any loss howsoever arising, directly or indirectly, from any use of such information or otherwise arising in connection therewith.

Forward- Looking Statements

This presentation contains forward-looking statements within the meaning of applicable securities laws. These forward-looking statements may include, among others, statements with respect to Cineplex's objectives and goals, and strategies to achieve such objectives and goals, as well as statements with respect to Cineplex's beliefs, plans, objectives, expectations, anticipations, estimates and intentions. The words "may", "will", "could", "should", "would", "suspect", "outlook", "believe", "plan", "anticipate", "estimate", "expect", "intend", "forecast", "objective" and "continue" (or the negative thereof), and words and expressions of similar import, are intended to identify forward-looking statements.

By their very nature, forward-looking statements involve inherent risks and uncertainties, including those described in Cineplex's Annual Information Form and Management's Discussion and Analysis for the year ended December 31, 2023 (collectively, the "MD&A"). These risks and uncertainties, both general and specific, give rise to the possibility that predictions, forecasts, projections and other forward-looking statements will not be achieved. Certain material factors or assumptions are applied in making forward-looking statements and actual results may differ materially from those expressed or implied in such statements. Cineplex cautions readers not to place undue reliance on these statements, as a number of important factors, many of which are beyond Cineplex's control, could cause actual results to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates and intentions expressed in such forward-looking statements. Additional information about factors that may cause actual results to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates and intentions expressed in such forward-looking statements, including Cineplex's expectations with respect to liquidity and capital expenditures, including its ability to meet its ongoing capital, operating and other obligations, and anticipated needs for, and sources of, funds; Cineplex's ability to execute cost-cutting and revenue enhancement initiatives; and risks generally encountered in the relevant industry, competition, customer, legal, taxation and accounting matters.

The foregoing list of factors that may affect future results is not exhaustive. When reviewing Cineplex's forward-looking statements, readers should carefully

consider the foregoing factors and other uncertainties and potential events. Additional information about factors that may cause actual results to differ materially from expectations and about material factors or assumptions applied in making forward-looking statements may be found in the "Risks and Uncertainties" section of the MD&A.

Cineplex does not undertake to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable Canadian securities law. Additionally, Cineplex undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of Cineplex, its financial or operating results or its securities.

Non-GAAP and Other Financial Measures

This presentation makes reference to certain non-GAAP other financial measures. Non-GAAP measures do not have standardized meaning under GAAP and may not be comparable to similar measures provided by other issuers. Cineplex includes these measures because management believes that they assist investors in assessing financial performance. The Company uses non-GAAP and other financial measures, including "EBITDA", "adjusted EBITDA and "adjusted EBITDAaL" to provide investors with supplemental measures of its operating performance and to eliminate items that have less bearing on operating performance or operating conditions and thus highlight trends in its business that may not otherwise be apparent when relying solely on GAAP financial measures. Please see section 16 of the MD&A for further details on certain non-GAAP and other financial measures, including relevant reconciliations of each non-GAAP measure to its most directly comparable GAAP measure.

Ellis Jacob

President and Chief Executive Officer

• Assumed position in 2003; previously served as CEO and co-founder of Galaxy Entertainment Inc.
• Received the Order of Canada, the Order of Ontario, Canada's Most Innovative CEO, Canada's Most Admired CEO, ICTA Global Cinema Innovation Award, and the 2022 NATO
  Marquee Award
• 35+ years of industry experience

Gord Nelson

Chief Financial Officer

• Appointed Chief Financial Officer in 2004
• Named Canada's CFO of the Year for 2016
• Received Fellowship Designation from the Chartered Professional Accountants (CPA) Ontario in 2021
• Director at Scene+
• 35+ years of industry experience

Dan McGrath

Chief Operating Officer

• Appointed Chief Operating Office in 2011
• President and a Director at Scene+
• Treasurer and member of the Movie Theatre Association of Canada and Canada's Walk of
  Fame
• Chair of the Corporate Relations Committee of Covenant House Toronto
• 35+ years of industry experience

Mahsa Rejali

Vice President, Corporate Development & Investor Relations

• Received MBA from Northwestern University - Kellogg School of Management
• 5 years of experience in investment banking, capital markets and finance; 7+ years of industry experience in the corporate development and investor relations capacity

1. 2023 Business Update
2. Company Overview

1. Location-BasedEntertainment Overview
2. Balance Sheet Update
3. Concluding Remarks & Rec Room Tour

Theatre

Exhibition

• Theatre attendance increased 25.8% to 47.9 million during 2023 as compared to the prior year period
• Achieved strong box office growth of 30.1% and outpaced the North American box office relative to 2022 by an impressive 785 basis points
• Premium format represented 41.4% of box office

Per Patron

Spend

• Annual box office revenues per patron record of $12.53, up 3.4% from 2022 and up 17.9% from 2019
• Annual concession revenues per patron record of $8.90, up 2.1% from 2022 and up 32.2% from 2019

Amusement

& Leisure

• Reported full year record revenue of $132.4 million in LBE, 19.4% increase from 2022
• 2023 record adjusted store level EBITDAaL of $37.9 million was 10.4% higher than prior year

Media

• Media revenues increased 6.2% from 2022
• Signed a media agreement with Cadillac Fairview bolstering CDM's out-of-home shopping network to a total of 89 premium shopping destinations in Canada including 9 out of 10 busiest malls

Loyalty &

Subscription

• CineClub program reached over 140,000 members in 2023
• Over 14 million Scene+ members, representing one-third of the Canadian population and 17 years of history

Profitability

• Reported adjusted EBITDAaL of $157.4 million compared to $54.2 million in 2022

• Delivered $83.7 million of adjusted free cash flow compared to negative $13.5 million in 2022

✓

Theatre	Alternative
Food	Programming &
Services	Distribution

TheatreFilm

Exhibition Entertainment and Content (57%)

SCENE+

Loyalty

Amusement

and Leisure

(14%)

Location

Based

Entertainment

✓

Digital

Commerce

Cinema

Media

Media

(29%)

Digital

Place-Based

Media

Percentages represent 2023 Adjusted EBITDAaL (excluding Corporate and Other expenses)

split by division, pro forma for P1AG divestiture

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