Q3 2023 Results - Cinemark slide image

Q3 2023 Results - Cinemark

Capital Structure and Allocation CINEMARK™ Our balance sheet remains a strategic asset and key differentiator, providing ample flexibility 1) 2) (in $ millions) Long-term debt 1) Cash balance Net Debt As of Sept. 30, 2023 • $2,434 $806 $1,628 $588 2.8x • TTM Adj. EBITDA Net Debt/ Adj. EBITDA Target Net Leverage Ratio 2) 2.0-3.0x The company has an undrawn revolver of $125M; Gross long-term debt excluding capital lease obligations Historic net leverage ratio ~2.0-2.5x • . Covenant-lite debt Company has a history of proactively managing debt with nearest maturity in 2025 Redeemed $100M of 8.75% Senior Secured Notes due May 2025 Successfully refinanced credit facility, securing $650M term loan maturing in 2030 and upsizing revolver to $125M maturing in 2028 • Repaid substantially all remaining deferred lease obligations incurred over the course of the pandemic Continue to invest in high-confidence ROI initiatives with $150M of CapEx planned for 2023 • Long-term target net leverage ratio of 2.0 – 3.0x, dependent upon timing and extent of box office recovery, as well as strategic investment opportunities 13
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