National Cinemedia, Inc. · NASDAQ:NCMI
National Cinemedia — Investor Day (March 2025)
120 slides from National Cinemedia's investor day presentation, Mar 13, 2025
Slide 1: NCM
NCM
Slide 2: Forward-Looking Statements
Forward-Looking Statements The following presentations contain various forward-looking statements that reflect management’s current expectations or beliefs regarding future events, including statements regarding the Company’s anticipated future financial performance. Investors are cautioned that rel
Slide 3: Welcome
Tom Lesinski Chief Executive Officer Welcome
Slide 4: Today's Agenda
Today’s Agenda 3:00 PM ET 3:55 PM ET 4:45 PM ET Executive Leadership Team Q&A Break Welcome Tom Lesinski | Chief Executive Officer 4:25 PM ET Management Presentation Ronnie Ng | Chief Financial Officer 3:05 PM ET Tom Lesinski | Chief Executive Officer Management Presentations Manu Singh | Chief Data
Slide 5: The Largest Cinema Advertising Network in the U.S.
The Largest Cinema Advertising Network in the U.S. with Unmatched Scale & Reach Sought-after, Young Audiences & Innovative Buying Options 5
Slide 6: The Most Effective Brand & Performance Marketing Platform
The Most Effective Brand & Performance Marketing Platform in Today’s Media Landscape Unduplicated, Incremental Reach Proven Brand & Performance Outcomes World’s Best Content Young, Diverse, Audiences 6
Slide 7: Best-in-Class Leadership Team
Best-in-Class Leadership Team Tom Lesinski Chief Executive Officer Ronnie Ng Chief Financial Officer Catherine Sullivan President Mike Rosen Chief Revenue Officer John Calkins Chief Corporate Development Officer Manu Singh Chief Data & Innovation Officer 7 Maria Woods General Counsel & Secretary
Slide 8: Our Story
Our Story
Slide 9: Original Ownership Structure
NASDAQ: NCMI Original Ownership Structure 9
Slide 10: Headwinds Disrupting the Cinema Industry
Headwinds Disrupting the Cinema Industry Challenged established theatrical release model New Release Models The Rise of Streaming Introduced a shift in how audiences consume content 10
Slide 11: Disruption Accelerated by Pandemic
Disruption Accelerated by Pandemic Reduced slates resulted in prolonged attendance impacts Delayed & Canceled Productions Disrupted Moviegoing Experience The moviegoing experience and cinema industry were disrupted Lockdowns & Social Distancing Forced theater closures and social distancing requireme
Slide 12: NCM Today
NCM Today $1.1 billion of debt eliminated 100% aligned ownership structure Retained long-term agreements Improved operating efficiency 12
Slide 13: People Continue to Love Going to the Movies
Highest-quality premium content Immersive shared experience Captivating 50-foot screens People Continue to Love Going to the Movies 13
Slide 14: NCM
NCM
Slide 15: Strategy
Strategy
Slide 16: Well-Positioned to Win
Well-Positioned to Win Attractive Industry Dynamics Premium Audience & Product Competitive Edge Compelling Financial Position 2 1 3 4 16
Slide 17: Competitive Edge
Edge Pee | i HN . 1 , Competitive | |
Slide 18: Long-Term Contracts with the Largest U.S. Exhibitors
Long-Term Contracts with the Largest U.S. Exhibitors Affiliate Exhibitor Market Share 26% 17% 17% 9% Other NCM Affiliates $8.6B Source: Box Office Essentials, 2024 18
Slide 19: Show Structure Provides Multiple Opportunities to Reach Audiences
Show Structure Provides Multiple Opportunities to Reach Audiences Platinum Spot Trailers “Turn Off Your Cellphones” SPONSORSHIP Feature Film Trailers SHOWTIME Gold Silver Post-Showtime 19
Slide 20: 71% Share of U.S. Cinema Attendance Viewing Ads
71% Share of U.S. Cinema Attendance Viewing Ads Top 10 DMAs Key Metrics Impressions Opening Weekend Box Office Share 18,000+ 4B+ 70%+ Total Theaters Audience* 400M+ 1,400+ Dominant Position in the Biggest Markets Total Screens *Trailing three-year average 20
Slide 21: Industry Dynamics
Industry Dynamics
Slide 22: Delivered New Cinema Records
Highlights Top Five Films #1 Wicked Biggest opening for a Broadway adaptation #1 Deadpool & Wolverine Highest-grossing R-rated film & summer opening #1 Inside Out 2 Highest-grossing animated film #1 Beetlejuice Beetlejuice Highest-grossing September opening 2024 Delivered New Cinema Records 22
Slide 23: Box Office on a Strong Trajectory
Source: Box Office Mojo, BoxOffice Pro’s 2025 Domestic Forecast Box Office is on a Strong Trajectory, with Dollars Swinging Back to Studios & Cinemas 23
Slide 24: Targeting Premium Video Budgets
Source: EMARKETER Forecast November 2024 Targeting Premium Video Budgets Broadcast & Cable Connected TV
Slide 25: Premium Audience & Platform
NCM Premium - Audience & Platform
Slide 26: Effectively Connecting with Hard-to-Reach Audiences
30 Median Age 62% Multicultural (vs. 42% US pop) 56% Cord-Cutters / Nevers (~300M NCM moviegoers) 3X Greater Spend (vs. gen pop) Effectively Connecting with Hard-to-Reach Audiences 26
Slide 27: NCM
NCM
Slide 28: Pioneered Performance Marketing in Cinema
Pioneered Performance Marketing in Cinema Performance Attribution Continued Engagement Cross-Channel Reach Hyper-Localization TM 28
Slide 29: Compelling Financial Position
Compelling Financial Position
Slide 30: 2024 Financial Highlights
Total Revenue $241M Adj. OIBDA $46M Unlevered FCF $58M 2024 Financial Highlights 30
Slide 31: De-Risked & Well-Capitalized for the Future
De-Risked & Well-Capitalized for the Future 100% NCMI Ownership ZERO Funded Debt Leverage 70-80% Adj. OIBDA to FCF Conversion Free Cash Flow 31
Slide 32: Strategic Investments to Increase Free Cash Flow
Investing In Talent & Technology Optimizing Monetization & Utilization Increasing Revenues & Profits Strategic Investments to Increase Free Cash Flow 32
Slide 33: Optimizing Shareholder Return
Dividend Reintroducing quarterly dividend Share Repurchases Opportunistically repurchasing shares Optimizing Shareholder Return Increase FCF Investing in Tech & Talent to Optimize Monetization 33
Slide 34: Well-Positioned to Win
Well-Positioned to Win Attractive Industry Dynamics Premium Audience & Product Competitive Edge Compelling Financial Position 2 1 3 4 34
Slide 35: Driving Growth in Advertising
Driving Growth in Advertising Catherine Sullivan President
Slide 36: NCM's Unifying Growth Vision
NCM’s Unifying Growth Vision Harnessing a Growing Opportunity Enhancing Capabilities to Compete Positioned to Win 36
Slide 37: Harnessing a Growing Opportunity
Harnessing a Growing Opportunity Enhancing Capabilities to Compete Positioned to Win NCM’s Unifying Growth Vision 37
Slide 38: Evolving Market Trends
Evolving Market Trends Share of Total Viewing (Q2’24) Share of Total Ad Time (Q2’24) 38 Source: Nielsen Guage Report 2024 Average; Comscore Score Report, 2024 Average
Slide 39: Media Landscape Areas of Significant Growth
Media Landscape Areas of Significant Growth $33B US 2025 Ad Spend 18% YOY Growth Video $72B US 2025 Ad Spend 20% YOY Growth Retail Media $9B US 2025 Ad Spend 14% YOY Growth Creator Economy 39 Source: EMARKETER estimated 2025 ad spend
Slide 40: Enhancing Capabilities to Compete
Harnessing a Growing Opportunity Enhancing Capabilities to Compete Positioned to Win NCM’s Unifying Growth Vision 40
Slide 41: Investment in Tech Fueled Improvement to Our Platform
Improved Utilization Streamline Ad Sales and Operations Optimized Forecasting 2 1 3 Reporting 4 Self-Serve and Programmatic 5 Investment in Tech Fueled Improvement to Our Platform 41
Slide 42: Enhancing Our Ability to Convert & Activate
Enhancing Our Ability to Convert & Activate Concentrated Coverage Across the Top 25 Selected DMAs Local National Relaunched with New Platform Fueled by Real-Time Data Investment Focus for Easy Activation Self-Serve Programmatic 42
Slide 43: Closer-to-Campaign, Real-Time Solutions
Closer-to-Campaign, Real-Time Solutions Measurable Outcomes Advertisers’ Needs are Shifting, & NCM Delivers Flexible Buying Options NCMxTM Data Capabilities On-Screen, Lobby, Experiential Self-Serve & Programmatic Upfront & Scatter Campaign Planning Retargeting Measurement & Attribution 43
Slide 44: New Partnerships Driving Growth
New Partnerships Driving Growth 44
Slide 45: NCM
NCM
Slide 46: Positioned to Win
Harnessing a Growing Opportunity Enhancing Capabilities to Compete Positioned to Win NCM’s Unifying Growth Vision 46
Slide 47: Unparalleled Scale in Premium Video
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 NCM NFL
Slide 48: Weekly Average Ratings Crushing CTV
Weekly Average Ratings Crushing CTV A18-34 48 Source: Nielsen NPOWER, Live+7, Linear+Digital+VOD, 2024; The People Platform, Cinema Data, Box Office Mojo 2024
Slide 49: Unduplicated Audiences at Scale
26% of the reach generated by NCM in any given month is unique Totals (AVOD + SVOD) Unduplicated Audiences at Scale 49 Source: Nielsen Media Impact, 2024 (Demo=A18-49; Unduplicated Audience = % of each network’s reach that is unique to that platform)
Slide 50: Highly Sought-after Unreachable Audiences
MEDIAN AGE NCM 30 Instagram 34 YouTube 38 Max 39 Hulu 42 Netflix 42 Prime 49 NBA 51 NHL 53 NFL 55 NCAA 56 NCM Audiences 62% 42% US General Population NCM VS US GENERAL POPULATION NCM MOVIEGOER SPENDING $1T Est. in 2025 3x Index vs US General Population 41% Shop after the movies Highly Sought-after U
Slide 51: Unmatched Attention
(seconds watched) Unmatched Attention 30-Second Ads (seconds watched) NCM’s Ad Recall Advantage :60 Linear Live Sports Premium AVOD 3x 5x 5x 5x 6x 2x 3x :30 51 Source: NCM/Lumen Attention Study Oct 8-12, 2023, N=364 A18+; TVision Norms Oct 2022-Oct 2023 *Any live sports event airing during the perio
Slide 52: All in a Brand-Safe Environment
All in a Brand-Safe Environment Social Digital CTV Linear TV Cinema High Brand Safety Low Brand Safety 52
Slide 53: Audience, Attention, Ratings Key Drivers of Growth
NCM Linear TV Sports Premium AVOD FAST Nets Social Median Age 30 61 55 43 53 32 Attention Score 83% 16% 35% 27% 25% 9% A18-34 Avg Rating 6.8 0.8 1.1 2.6 0.4 -- Audience, Attention, Ratings Key Drivers of Growth 53
Slide 54: NCM
NCM
Slide 55: Leveraging Data to Drive Profitable Growth
Leveraging Data to Drive Profitable Growth Manu Singh Chief Data & Innovation Officer
Slide 56: Content is King. Audience is Key. Data is the Box Office Gold.
Content is King. Audience is Key. Data is the Box Office Gold. 56
Slide 57: From Data to Dollars
Reach the Unreachables Maximize ROI Gain Competitive Edge From Data to Dollars What it Means for Brands 57
Slide 58: Unlocking Premium Audiences & Proven Performance for Brand Growth
Awareness Multi-category avg. from 350 advertisers Unlocking Premium Audiences & Proven Performance for Brand Growth Conversion Web Visits | App Downloads QSR | Auto Attribution In data-matched attribution studies QSR | Retail | Auto | Pharma | CPG Foot Traffic QSR | Retail | Auto Sales CPG Scan-Thr
Slide 59: Moviegoer Data Journey
PRE-TRAILER RELEASE Social Listening Collection TRAILER DROP Planning Audience Analysis CONSUMER ACTION Measurement Attribution KPIs Met LOBBY EXCITEMENT Experiential High-impact Lobbies LEN Screens Foot Traffic Data PRE-SHOW On-screen With QR Code Omnichannel Retargeting NCMx Boost RETARGETING TARG
Slide 60: Precision Targeting. Proven Impact.
Precision Targeting. Proven Impact. NCM O&O Sales Lift Foot Traffic Advanced Audience Segments Reach Audience Measurement Brand Measurements Attribution Cross-Device Targeting Identity Graph/Resolution Biz Outcomes/ Alternative Guarantees Theater-Specific Creative Moviegoer Re-Targeting TM 60
Slide 61: From Data to Seats
From Data to Seats Predicting Who’s Coming to the Movies 67% Male $108K Average Income 33% Female Retail 128 Auto 113 Dining 113 Key Category Over-indexing 65% A18-34 Psychographic Insights Affinity Score Luxury Brands 1.8x Fashion Influencers 2.4x Home Improvement 1.8x Gamers 1.9x Netizens 3.2x Foo
Slide 62: Mapping the Moviegoer Journey Beyond the Theater
Mapping the Moviegoer Journey Beyond the Theater $45B 46% go out to eat after the movies $3B Avg 5+ visits a month $13B $25B 55% of retail visits occur same day as trip to the theater $5B Moviegoers Change Telco Brands Often 170 Index $36B 2X higher avg spend vs US Pop $5B Over 3MM active permits ne
Slide 63: Mapping the Moviegoer Journey Beyond the Theater
Mapping the Moviegoer Journey Beyond the Theater $45B 46% go out to eat after the movies $3B Avg 5+ visits a month $13B $25B 55% of retail visits occur same day as trip to the theater $5B Moviegoers Change Telco Brands Often 170 Index $36B 2X higher avg spend vs US Pop $5B Over 3MM active permits ne
Slide 64: Incremental Results Across All Categories
QSR +48% Foot Traffic Lift Pharma +21% Specialist Visitation CPG +22% Sales Lift Travel +150% Unaided Awareness Retail $4M Incremental Revenue Alcohol 86% Ad Recall Insurance +71% Unaided Awareness Entertainment / Streaming +12% Tune-in Lift Auto +22% Foot Traffic Lift Incremental Results Across All
Slide 65: Proven Performance Across Every Category: Hyper-Local Targeting
Proven Performance Across Every Category Hyper-Local Targeting Import Automotive Client +25% Foot traffic lift across four dealership regions Actionable insights at the local level on cinema ad impact encourages more dealership groups to invest in localized campaigns 65
Slide 66: Proven Performance Across Every Category: QR Codes
Proven Performance Across Every Category QR Codes Incremental Foot Traffic Large Beauty Retailer 2X QR Code Scan Rates vs CTV Norms 119K Incremental Store Visits Geo-Targeted Messaging QR Codes & Exclusive Offers Seasonal Promotions Sales & Footfall Tracking 66
Slide 67: Proven Performance Across Every Category: Drive Post-Movie Traffic
Dining out top post-movie activity 85% of visits occur within 5 miles of movie theater Proven Performance Across Every Category Drive Post-Movie Traffic Top National QSR Chain +23% Foot Traffic Lift +$1.2M Incremental Revenue 67
Slide 68: Proven Performance Across Every Category: Reach Attentive Travelers
Moviegoers spend $45B annually on travel Monthly spend reporting Ability to track spend per brand Proven Performance Across Every Category Reach Attentive Travelers Hospitality & Travel Ecommerce +14% Spend Rate $69M Total Travel Spend 68
Slide 69: Proven Performance Across Every Category: Condition-Based Targeting
Proven Performance Across Every Category Condition-Based Targeting Identify high-indexing theaters Measure movie audience quality Track Rx/Dx Specialist visits Leading Pharma Brand Reached Qualified Audience 1.2x Diagnosed with T2D +32,000 Incremental Specialist Visits 69
Slide 70: Amplifying NCM
Amplifying NCM»
Slide 71: Measurement Capabilities 2.0
Measurement Capabilities 2.0 Fully Measurable Extending Impact Cross-Screen Reach Credit / Debit Spending Foot Traffic Measurement “Real-Time” Insights 71
Slide 72: Guaranteed Outcomes That Drive Results
Guaranteed Outcomes That Drive Results Audience Composition Guarantee Sales Lift & Foot Traffic Guarantees Incremental Reach Guarantee Attention Ratings Guarantee 72
Slide 73: Retarget Moviegoers After They Leave the Theater
Retarget Moviegoers After They Leave the Theater Premium publisher scale Exclusive data Reach with brand safety Non-skippable Managed frequency Cinema to TV Audience Connection Advanced Audience Targeting Transunion Identity Graph Matched to Households Cinema Ad Exposure Omnichannel Retargeting TM 7
Slide 74: Reminder Messaging
Retarget moviegoers with a reminder message Get detailed performance analytics Mockups are for illustrative purposes only. Third party names and logos used in this slide are the trademarks of their respective owners. Reminder Messaging Sign up moviegoers for a reminder message Customize messages tie
Slide 75: High-Impact Shoppable Ads
One-click e-commerce purchases via QR code High-Impact Shoppable Ads 75 Mockups are for illustrative purposes only. Third party names and logos used in this slide are the trademarks of their respective owners.
Slide 76: Location-Based Features
Store Locator Weather Conditions Location-Based Features It will be 62° and Sunny after the movie! Download the app now or set a reminder. We will remind you in 3 hours. Remind me after the movie Download weather app Share this Download The Weather App to stay informed for the rest of the week. Mock
Slide 77: Real-Time API Data Features
Real-Time API Data Features Allergy Alerts Lottery Notifications 77 Mockups are for illustrative purposes only. Third party names and logos used in this slide are the trademarks of their respective owners.
Slide 78: Real-Time Construction Permit Data
Real-Time Construction Permit Data 5 mi. 3 mi. 1 mi. Residential 1,873,778 Commercial 1,158,409 Active Permits Near Theaters (past six months) Roofing New Construction Remodel Plumbing Demolition Grading Electrical HVAC Gas Remodel Bathroom New Construction 78
Slide 79: Introducing Precision Targeting on the Biggest Screen
Deliver the right creative to the right audience at the right theater — all in real time Dynamic Creative Versioning Serve multiple different versions across theaters Location-Based Targeting Customize messaging by region, DMA or individual zip code (theaters) Hyperlocal Relevance Align offers and m
Slide 80: NCM
NCM
Slide 81: NCM
NCM
Slide 82: NCM
NCM
Slide 83: Growth Driven by Data
Growth Driven by Data QSR +33% Foot Traffic Lift Pharma +67,500 Specialist Visitation Retail $6.4M Incremental Revenue Travel $2.4M Incremental Quarterly Spend CPG ~$5M Avg. Total Sales ~50% of sales revenue supported by data 83
Slide 84: The Power of Cinema
The Power of Cinema we get audiences
Slide 85: Financial Strategy & Outlook
Ronnie Ng Chief Financial Officer Financial Strategy & Outlook
Slide 86: Strong Financial Trajectory
Strong Financial Trajectory Revenue & Expense Drivers Capital Allocation Reinforced Financial Foundation Outlook 2 1 3 4 86
Slide 87: NCM Historically Generated Significant Unlevered Free Cash Flow
NCM Historically Generated Significant Unlevered Free Cash Flow 87
Slide 88: Pandemic Disruption Significantly Impacted the Business
Reduced Film Slate + Pull-Back in Ad Spend Pandemic Disruption Significantly Impacted the Business Forced Theater Closures + Social Distancing Requirements Limited Attendance + Disrupted Experience 2019 2020 2021 88
Slide 89: Management Transformed NCM to Enhance Flexibility
Management Transformed NCM to Enhance Flexibility Streamlined Business Units & Increased Productivity Personnel Reduction 52% SG&A Annual Cost Savings Increased Ad Rev per Sales Employee $38M +25% 89
Slide 90: Opportunistically Taking Steps to Improve our Financial Foundation
Opportunistically Taking Steps to Improve our Financial Foundation Eliminated approximately $1.1B of debt & over $90M of annual debt service Simplified ownership structure Secured approximately $55M of new capital Improved governance NCM’s Financial Restructuring Process 90
Slide 91: Fortified Balance Sheet
Fortified Balance Sheet Optimized leverage ratio with zero funded debt Net Debt to Adj. OIBDA Ratio 4.47x 0.19x 0.22x 0.00x // New $45 Million Cash Flow Based Revolving Credit Facility Reduced Cost of Debt by >200 bps Reduced Annual Interest Expense by $1 Million 91
Slide 92: Positioning the Business for Long-Term Growth
Positioning the Business for Long-Term Growth Meaningfully Lower Risk Profile Consolidated Business Units $4 million cost savings Eliminated Unprofitable Contracts $5 million cost savings 92
Slide 93: Revenue & Expense Drivers
Revenue & Expense Drivers
Slide 94: Attendance Analysis
Attendance Analysis // NCM Attendance by Quarter (M) 94
Slide 95: Consistent Monetization
Consistent Monetization // Total Advertising Revenue per Attendee 95
Slide 96: Stable Revenue Streams
Stable Revenue Streams // Revenues by Category (M) 96
Slide 97: Optimizing Expenses Through Cost Initiatives
Optimizing Expenses Through Cost Initiatives Total Operating Expenses (M)* $237 $192 $207 $195 Cost Initiatives Consolidation of select business units Reductions in headcount Termination of certain network affiliate agreements // *Excluding one-time items, depreciation, amortization, and non-cash sh
Slide 98: Maximizing Cash Flow
Maximizing Cash Flow Returning to Pre-Pandemic Conversion Rate of +70-80% Adjusted OIBDA to Free Cash Flow Conversion (M) * // 98 *Normalized for restructuring costs * *
Slide 99: Capital Allocation
NCM we... Capital lo Allocation i
Slide 100: Enhancing Our Platform by Investing in Technology and Talent
Enhancing Our Platform by Investing in Technology and Talent Strategic Data Partnerships Self-Serve Programmatic Inventory Monetization Tools New Sales Talent 100
Slide 101: Opportunistically Buying Back Shares
Opportunistically Buying Back Shares 3M Total Shares Repurchased Continuing to repurchase shares at prevailing market prices to return value to shareholders Value of Shares Repurchased $17M of Shares Outstanding 3% Since launch of $100M repurchase program *As of March 3, 2025 * 101
Slide 102: Reintroduction of Dividend Program
Reintroduction of Dividend Program Attractive Tax-Deferred Dividend Utilizing $11.5 Million of Unlevered Free Cash Flow in 2025 $0.12 Per Share Annually Paid Quarterly Record Date: March 24, 2025 Payment Date: April 7, 2025 102
Slide 103: Outlook
Outlook
Slide 104: 2025 Box Office & Advertising Market Projections
2025 Box Office & Advertising Market Projections Domestic Box Office Growth Total US Core Ad Market Growth +10% 2024-2025E +8% 2024-2025E 104 Source: Wall Street Research
Slide 105: Q1'25 Guidance
Q1’25 Guidance Revenue Adj. OIBDA $34.0 Million - $36.0 Million $(9.5) Million - $(7.5) Million 105
Slide 106: Quarterly Revenue Contribution
Quarterly Revenue Contribution // $445 $249 $260 $249 Revenue Contribution by Quarter (M) 106
Slide 107: 2025 Look-Ahead
2025 Look-Ahead Q2’25 sales pacing well ahead of prior year, signaling positive momentum for fiscal 2025 driven by: Improving content lineup Growing advertiser demand Continued expansion of client solutions 107
Slide 108: SG&A to Increase in FY2025
Increase in operational support cost New sales technology infrastructure Sales commissions from increasing revenue Investment in sales team and go-to-market initiatives SG&A to Increase HSD% YOY in FY2025 Allocation of Planned Incremental 2025 SG&A Investment 108
Slide 109: CapEx to Increase $2-3M YOY in FY2025
CapEx to Increase $2-3M YOY in FY2025 One Time Investments Sales & Research Tools Network Infrastructure Upgrades Delayed CapEx for Facilities Upgrades $1–2M $1M Planned 2025 Incremental Investments 109
Slide 110: Forward-Looking Margin Sensitivity Analysis
Forward-Looking Margin Sensitivity Analysis For illustrative purposes ONLY; reflects economics up to $0.68 of Ad. Revenue / Attendee Only if Attendance Increases (Flat Rev. / Attendee) Only if Ad. Rev. per Attendee Increases (Flat Attendance) If Both Levers Increase Assumptions 2024A Ad. Rev./ Attn.
Slide 111: Well-Positioned to Drive Value Creation
Well-Positioned to Drive Value Creation Attractive Industry Dynamics Premium Audience & Product Competitive Edge Compelling Financial Position 2 1 3 4 111
Slide 112: NCM
NCM
Slide 113: Q&A
Q&A NCM
Slide 114: Thank You
Thank You NCM
Slide 115: Appendix
Appendix NCM
Slide 116: 2024 Adjusted OIBDA
2024 Adjusted OIBDA $45.7M $6.5M $0.4M $0.8M $2.9M $12.2M $37.8M $4.6M -$19.5M 116
Slide 117: Non-GAAP Measures Definitions
Adjusted Operating Income Before Depreciation and Amortization (“Adjusted OIBDA”), Unlevered free cash flow and Adjusted Operating Expense are not financial measures calculated in accordance with GAAP in the United States. Adjusted OIBDA represents operating income before depreciation and amortizati
Slide 118: Reconciliation Footnotes
(1) Share-based compensation costs are included in network operations, selling and marketing and administrative expense in NCM LLC’s unaudited Condensed Consolidated Financial Statements. (2) Chief Executive Officer transition costs represent severance, consulting and related other costs and are inc
Slide 119: Adjusted Operating Expense Reconciliation for NCM, LLC
Adjusted Operating Expense Reconciliation for NCM, LLC (dollars in millions) Year Ended (unaudited) December 26, 2019 December 29, 2022 December 28, 2023 December 26, 2024 Operating Expense $ 283.5 $ 242.3 $ 440.7 $ 260.3 Depreciation expense (13.6) (6.5) (4.6) (4.6) Amortization expense (26.7) (25.
Slide 120: Investor Contact / Media Contact
Investor Contact Media Contact Chan Park Doug Serton investors@ncm.com press@ncm.com 120