Investor Presentation Liquidity and COVID-19 Update June 3, 2020 - PowerPoint PPT Presentation

Investor Presentation Liquidity and COVID-19 Update June 3, 2020

Forward Looking Statements FORWARD LOOKING STATEMENTS: This report release includes “forward -looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended and speak only as of the date hereof. The “forward -looking statements” include our current expectations, assumptions, estimates and projections about our business and our industry. They include statements relating to future revenues, expenses and profitability, the future development and expected growth of our business, projected capital expenditures, attendance at movies generally or in any of the markets in which we operate, the number or diversity of popular movies released and our ability to successfully license and exhibit popular films, national and international growth in our industry, competition from other exhibitors and alternative forms of entertainment and determinations in lawsuits in which we are defendants. You can identify forward-looking statements by the use of words such as “may,” “should,” “could,” “estimates,” “predicts,” “potential,” “continue,” “anticipates,” “believes,” “plans,” “expects,” “future” and “intends” and similar expressions which are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to risks and uncertainties some of which are beyond our control and difficult to predict, including, among others, the impacts of COVID-19. Such risks and uncertainties could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. In evaluating forward-looking statements, you should carefully consider the risks and uncertainties described in the “Risk Factors” section or other sections in the Company’s Annual Report on Form 10-K as updated by the information relating to COVID-19 that was included in a Form 8K that was filed on April 13, 2020. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by these cautionary statements and risk factors. These forward-looking statements speak only as of the date hereof and we undertake no obligation, other than as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. NON-GAAP FINANCIAL MEASURES: Certain non-GAAP financial measures included in this presentation, including Free Cash Flow, Adjusted EBITDA and other financial measures utilizing Adjusted EBITDA, may not comply with the guidelines adopted by the Commission regarding the use of financial measures that are not prepared in accordance with GAAP. Our measurement of Adjusted EBITDA may not be comparable to those of other companies, and may not be comparable to similar measures used in our various debt agreements, including our Credit Agreement and the indentures governing the existing senior notes and the indenture that will govern the notes. Please see the Appendix for definitions of our non-GAAP financial measures and a reconciliation of each non-GAAP financial measure to the most directly comparable financial measure stated in accordance with GAAP. PRELIMINARY INFORMATION: The estimated preliminary information presented herein regarding our cash position as of May 31, 2020, which reflects the borrowing of $98.8 million under the $100.0 million revolving credit line of our credit agreement on March 25, 2020, is preliminary, unaudited and subject to the completion of our financial closing procedures as of and for the three months ended June 30, 2020 and should not be viewed as a substitute for the information contained in full quarterly financial statement prepared in accordance with GAAP. We cannot assure you that our liquidity position will be as presented herein upon finalization of our financial statements as of and for the three months ended June 30, 2020. Those differences may be significant and adverse. You should consider this possibility in reviewing the liquidity information as of May 31, 2020 herein. You should not place undue reliance on these estimates. 2

Outline • Cinemark Overview • Financial Summary • Key Liquidity Actions • A Look Ahead 3

Cinemark Overview 345 Theatres 4,649 Screens • Geographically diverse worldwide exhibitor – 555 theatres with 6,145 screens in 16 countries (1) • U.S. Operations – Third largest exhibitor in terms of market share (2) – 42 states, 105 DMAs – #1 or #2 in 80% of our top 25 markets (2) – Highest attendance per screen among leading exhibitors (2) – Surpassed North American industry box office growth for 10 out of the past 11 years – U.S. operations fund the debt, domestic growth opportunities and dividend 210 Theatres 1,496 Screens • International Operations – First modern theater experience throughout Latin America – More than 26 years of operating experience – 15 countries – Approximately 30% market share in key countries (2) – Presence in 14 of top 20 metropolitan cities in the region (2) – Business is most closely tied to film content strength rather than economic or political cycles – FX is translation based rather than transaction-oriented 1)- As of 3/31/2020 2)- As of 12/31/2019 4

Highly Experienced Management Team Mark Zoradi Lee Roy Mitchell CEO & Board Director Founder & Executive Chairman Founded Cinemark in 1987, served as CEO Served as Cinemark’s CEO since 2015. Spent 30+ years as Walt Disney Company, most through 2006 and has served as Executive recently serving as President of the Walt Chairman since 1996 Disney Studios Motion Picture Group Sean Gamble Valmir Fernandes CFO & COO President, International 10+ years of industry experience. Joined as 20+ years of Cinemark experience includes Cinemark’s CFO in 2014 after spending 5+ the past 10 years as President of years as CFO/Executive Vice President of International following 10 years as the Universal Pictures within NBCUniversal General Manager of Cinemark Brazil Mike Cavalier EVP General Counsel Served as General Counsel since 1997. Helped guide company through various transactions including M&A, IPO and numerous lending agreements Additional key leaders with 20+ years of industry/Cinemark experience in the US and internationally 5

2019 Financial Summary Amounts in millions 2019 Worldwide Results Highlights • Served ~280 million patrons globally • Achieved 5 th consecutive year of record revenue with 5-Year top-line growth in U.S. and International segments 2019 CAGR • Exceeded North America industry box office growth Attendance 280 1.2% by 200 bps, outperforming in 10 of the past 11 years • Grew global concession per caps 8.7% in constant $, Revenue $3,283 4.6% extending growth trend to 13 consecutive years Adj. EBITDA (1) $745 3.9% • Generated over 20% free cash flow growth vs. 2018 Adj. EBITDA % (1) 22.7% • Maintained balance sheet strength with almost $0.5B in cash and ~2x net leverage, consistent with Free Cash Flow (1) $258 4.2% results for past 10 years • Strengthened circuit and customer experience by Cash Balance $488 reclining another 200 screens (60% of U.S. circuit) Net Leverage 2x • Expanded highly successful Movie Club subscription program to 950K members 6 (1) See Appendix page 15 for reconciliation of Adjusted EBITDA and Free Cash Flow to the most directly comparable GAAP measures.

1Q20 Financial Summary ($’s in millions) 1Q20 Worldwide Results Highlights • Ahead of the crisis, Cinemark’s global results were tracking very well ... through Feb QTD, on relatively flat attendance, revenue was up 5%, Adj. EBITDA had 1Q20 1Q19 increased 16% and Adj. EBITDA margin has expended nearly 200 bps compared to 1Q19 Attendance 46 62 • The impact of COVID-19, including being shutdown for Revenue $544 $715 last 2 weeks of March, materially distorted 1Q20 reported results and yielded a net loss of $(60)MM Adj. EBITDA (1) $66 $152 Adj. EBITDA % (1) 12.2% 21.3% • As the potential for theater shutdowns became clearer, we took swift action to reign in expenses and manage liquidity, such as reducing payroll, cutting non-essential Free Cash Flow (1) $(50) $47 spend and drawing on our revolver (note: effects of Cash Balance $479 $425 payroll/real estate actions largely start in 2Q20) Net Leverage 2.4x 2.1x • Despite active measures taken to reduce impact of the crisis, COVID- 19’s total drag on 1Q20 is estimated to be $(90)MM on Adj. EBITDA and $(0.70) on EPS, with cash flow adversely impacted by $(140)MM in the quarter 1) - See Appendix page 16 for reconciliation of Adjusted EBITDA and Free Cash Flow to the most directly comparable GAAP measures. 7