Cineplex Appoints Bill Walker as Chief Executive Officer and Announces Strategic Review

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“On behalf of the Board, I would like to thank Ellis for his extraordinary leadership, entrepreneurial vision and unwavering commitment to Cineplex,” said Yaffe. “Given his unparalleled knowledge of the business, longstanding industry relationships and exceptional track record of value creation, the Board believes Ellis’ continued involvement will be highly valuable as we advance both the leadership transition and the Strategic Review and work toward achieving the best possible outcome for shareholders.”

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“It has been a privilege to lead Cineplex and work alongside the exceptional people who have helped build this Company over many years,” said Jacob. “I support the Board’s appointment of Bill Walker and its decision to undertake a comprehensive review of strategic alternatives. Cineplex has built an incredible portfolio of assets, a diversified business model, market-leading brands and strong stakeholder relationships. I look forward to continuing to work closely with the Board and our advisors as we evaluate opportunities to unlock value for shareholders.”

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Cineplex
Cineplex (TSX:CGX) 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 168 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 & Entertainment’ (The Rec Room), complexes specially designed for teens and families (Playdium), and an entertainment concept that brings movies, amusement gaming, dining, and live performances together under one roof (Cineplex Junxion). It also operates successful businesses in cinema media (Cineplex Media), alternative programming (Cineplex Events) and motion picture distribution (Cineplex Pictures). Providing even more value for its guests, Cineplex is a partner in Scene+, Canada’s largest entertainment and lifestyle loyalty program.

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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. To learn more, visit Cineplex.com.

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Caution Regarding Forward-Looking Statements
Certain statements and/or information in this news release (identified by words such as “may”, “will”, “could”, “should”, “would”, “suspect”, “outlook”, “believe”, “plan”, “anticipate”, “estimate”, “expect”, “intend”, “forecast”, “objective” and “continue” (or the negative thereof)), and words and expressions of similar import, and similar expressions suggesting future events or future performance are intended to identify forward-looking statements. Such forward-looking statements are based on expectations and assumptions made by Cineplex and are subject to risks and uncertainties which may be beyond Cineplex’s control. Specifically, statements with respect to the Company’s current expectations regarding the Strategic Review are forward-looking statements.  There can be no assurance that the Strategic Review will result in any transaction, agreement or other strategic outcome.  A comprehensive discussion of risks that may impact Cineplex can be found in Cineplex’s public reports and filings, including those described in Cineplex’s Annual Information Form (“AIF”), and Management’s Discussion and Analysis for the year ended December 31, 2025 (“Annual MD&A”), which are both available under the Company’s profile on Sedar+ (www.sedarplus.ca). The foregoing list of factors that may affect future operations and results is not exhaustive. Readers are cautioned that undue reliance should not be placed on forward-looking statements as actual operations and results may vary materially from the beliefs, plans, objectives, expectations, anticipations, estimates and intentions expressed in such forward-looking statements. Cineplex does not undertake to update, correct or revise any forward-looking statements as a result of any new information, future events or otherwise, except as may be required by applicable law.

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