IMAX China (1970) Investor Presentation summary

Strategic positioning and growth drivers

• Positioned as a premium, innovative platform with a global network in 90 countries and over 1,700 locations, accounting for more than 50% of global premium cinema locations.

• Achieved 24% growth in global box office market share since 2018, with strong secular tailwinds and increasing demand from filmmakers and studios.

• Over 50% of the target market remains addressable, supported by a robust system backlog of 440 contracted systems.

• Expanding content strategy to include streaming, consumer technology, local language films, sports, concerts, and live events.

• Flexible, asset-light business model with high incremental margins and long-tailed cash flows.

Financial performance and guidance

• Reported 2024 global box office of $901M, 146 system installations, and a 39.4% adjusted EBITDA margin.

• Revenue reached $352M in 2024, with gross profit margin at 54% and adjusted EPS of $0.95.

• Operating cash flow for 2024 was $70.8M, with free cash flow before growth CAPEX at $54M.

• Maintained a low leverage model with net debt/TTM adjusted EBITDA at 1.21x and total liquidity of $317.3M as of year-end 2024.

• 2025 guidance targets $1.2B+ box office, 145-160 installations, and adjusted EBITDA margin above 40%.

Market share, network, and content pipeline

• Holds over 50% share of global premium formats and less than 1% of screens, yet commands 4.8% of global box office in 2024.

• Domestic opening weekend market share for top 10 IMAX titles reached 10% in 2023.

• Record 14+ Filmed for IMAX titles expected in 2025, with a robust slate through 2027 including major Hollywood franchises.

• Local language content drives incremental box office, with 60+ titles expected in 2025 and strong growth in China, Japan, South Korea, and India.

• Partnerships with streaming platforms and eventized content launches are expanding IMAX's reach beyond traditional cinema.