Investor Presentation Bank of America Merrill Lynch Leverage Finance Conference
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 2018. 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) technological changes and innovations; 6) economic conditions, including
the level of expenditures on cinema advertising; 7) our ability to renew or replace expiring advertising and content contracts; 8) our need for additional funding,
risks and uncertainties relating to our significant indebtedness; 9) reinvestment in our network and product offerings may require significant funding and
resulting reallocation of resources; 10) fluctuations in operating costs; and 11) 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 Annual Report on Form 10-K for the
year ended December 28, 2017, 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
and excluding share based payment costs, merger-related costs, CEO transition costs, early lease termination expense and Fathom operating income). A
reconciliation of these measures is available in the Appendix to this presentation and on the investor page of the Company's website at www.ncm.com.
NCM
NATIONAL CINEMEDIA
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