Mr. Mahsa Rejali reports

CINEPLEX ANNOUNCES ACCEPTANCE OF NORMAL COURSE ISSUER BID

The Toronto Stock Exchange has accepted Cineplex Inc.'s notice of intention to make a normal course issuer bid (NCIB) for its common shares.

Pursuant to the notice, Cineplex proposes to purchase, as opportunities arise from time to time over the next 12 months, up to 6,318,345 shares, being equal to 10 per cent of its public float of 63,183,455 shares issued and outstanding as of Aug. 20, 2024. As of Aug. 20, 2024, there were a total of 63,684,281 shares outstanding. Purchases under the NCIB will be made through the facilities of the Toronto Stock Exchange or through alternative Canadian trading systems and in accordance with applicable regulatory requirements at a price per share equal to the market price at the time of acquisition. The number of shares that can be purchased pursuant to the NCIB is subject to a current daily maximum of 99,642 shares (which is equal to 25 per cent of 398,570 shares, being the average daily trading volume during the six months ended July 31, 2024), in each case subject to Cineplex's ability to make one block purchase of shares per calendar week that exceeds such limits. All purchases of shares under the NCIB will be made by the company in accordance with the requirements of the Toronto Stock Exchange and an alternative Canadian trading system.

Cineplex may begin to purchase shares on or about Aug. 26, 2024, and the bid will terminate on Aug. 25, 2025, or such earlier time as the company completes its purchases pursuant to the bid or provides notice of termination. Any shares purchased under the NCIB will be cancelled upon their purchase. Cineplex intends to finance the purchases out of its available cash.

In connection with the NCIB, Cineplex has established an automatic share purchase plan with its designated broker that contains specified parameters regarding how its shares may be purchased under the NCIB during times when the company would ordinarily not be permitted to purchase shares due to regulatory restrictions or self-imposed blackout periods. Cineplex may elect to suspend or discontinue its NCIB in accordance with certain conditions set forth in the plan. The plan will be effective as of Aug. 26, 2024.

Cineplex is commencing the NCIB because the board of directors believes that the market price of the shares does not reflect the intrinsic value of the company and the repurchase of shares would be in the best interests of the company and its shareholders and would represent an attractive and appropriate use of available funds. Decisions regarding the amount and timing of future purchases of shares will be based on market conditions, share price and other factors.

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 169 movie theatres and location-based entertainment venues.

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