Ms. Mahsa Rejali reports

CINEPLEX RECEIVES INCREASED SUPPORT FROM HOLDERS OF ITS CONVERTIBLE DEBENTURES FOR PROPOSED AMENDMENTS

Additional holders of Cineplex Inc.'s outstanding 5.75 per cent convertible unsecured subordinated debentures due Sept. 30, 2025, have signed consent agreements with Cineplex, bringing the level of support to 69.1 per cent of the outstanding convertible debentures. Pursuant to the consent agreements, such holders have committed to support the proposed amendments to the terms of the convertible debentures described in Cineplex's press release dated Feb. 8, 2024. Accordingly, Cineplex has now received written support from holders of more than the 66-2/3 per cent of its outstanding convertible debentures required to approve the convertible debenture amendments.

The implementation of the convertible debenture amendments remains conditional upon the prior or contemporaneous completion of:

• A private placement by Cineplex of new senior secured notes (sized to be no less than $500-million and no more than $600-million, and a term to maturity of at least five years);
• The redemption in full of Cineplex's existing 7.5 per cent senior secured second lien notes due Feb. 26, 2026; and
• The repayment in full of Cineplex's existing senior revolving credit facility and replacement with a new $100-million senior secured credit facility with a term of at least three years.

The convertible debenture amendments also remain subject to approval by the Toronto Stock Exchange.

About Cineplex Inc.

Cineplex is a top-tier Canadian brand that operates in the film entertainment and content, amusement and leisure, and media sectors. Cineplex offers a unique escape from the everyday to millions of guests through its circuit of over 170 movie theatres and location-based entertainment venues. In addition to being Canada's largest and most innovative film exhibitor, the company operates Canada's favourite destination for eats and entertainment (The Rec Room), complexes specially designed for teens and families (Playdium), and a newly launched entertainment concept that brings movies, amusement gaming, dining and live performances together under one roof (Cineplex Junxion). It also operates successful businesses in digital commerce (CineplexStore), alternative programming (Cineplex Events), motion picture distribution (Cineplex Pictures), cinema media (Cineplex Media) and digital place-based media (Cineplex Digital Media). Providing even more value for its guests, Cineplex is a partner in Scene+, Canada's largest entertainment and lifestyle loyalty program.

Proudly recognized as having one of the country's most admired corporate cultures, Cineplex employs over 10,000 people in its offices and venues across Canada and the United States.

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