Q3’19 Earnings Supplemental Presentation
Forward-Looking Statements
This presentation contains various forward-looking statements that reflect management's current expectations or beliefs regarding future events, including
statements providing guidance and projections for the full year 2019. Investors are cautioned that reliance on these forward-looking statements involves risks
and uncertainties. Although the Company believes that the assumptions used in the forward-looking statements are reasonable, any of these assumptions
could prove to be inaccurate and, as a result, actual results could differ materially from those expressed or implied in the forward-looking statements. The
factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements are, among others, 1) level of
theater attendance or viewership of the Noovie pre-show; 2) increased competition for advertising expenditures; 3) changes to relationships with NCM LLC's
founding members; 4) inability to implement or achieve new revenue opportunities; 5) failure to realize anticipated benefits of the 2019 Exhibitor Service
Agreement amendments; 6) technological changes and innovations; 7) economic conditions, including the level of expenditures on cinema advertising; 8) our
ability to renew or replace expiring advertising and content contracts; 9) our need for additional funding, risks and uncertainties relating to our significant
indebtedness; 10) reinvestment in our network and product offerings may require significant funding and resulting reallocation of resources; 11) fluctuations in
operating costs; and 12) changes in interest rates. In addition, the outlook provided does not include the impact of any future unusual or infrequent
transactions; sales and acquisitions of operating assets and investments; any future non-cash impairments of intangible and fixed assets; amounts related to
litigation or the related impact of taxes that may occur from time to time due to management decisions and changing business circumstances. The Company is
currently unable to forecast precisely the timing and/or magnitude of any such amounts or events. Please refer to the Company's Securities and Exchange
Commission filings, including the "Risk Factor" section of the Company's Quarterly Report on Form 10-Q for the quarter ended September 26, 2019, for further
information about these and other risks. Investors are cautioned not to place undue reliance on any such forward-looking statements, which speak only as of
the date they are made. The Company undertakes no obligation to update any forward-looking statement, whether as a result, of new information, future
events or otherwise, except as required by law.
In addition, the pro forma information provided in this presentation is included for informational purposes only and does not purport to reflect the results of
operations or financial position of the Company or National CineMedia, LLC ("NCM LLC") that would have occurred had the particular transactions become
effective on the dates specified. References in this presentation to "PF" or "Pro Forma" mean that the information is presented as if the IPO, the reorganization
and the transactions and material changes to contractual arrangements which occurred in connection with the IPO had become effective on the dates specified.
This presentation contains references to Non-GAAP financial measures including Adjusted OIBDA (Operating Income Before Depreciation and Amortization,
Amortization of intangibles recorded for network theater screen leases, excluding share based payment costs and CEO transition costs). A reconciliation of
these measures is available in this presentation and on the investor page of the Company's website at www.ncm.com.
NCM
NATIONAL CINEMEDIA
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