Risk Factors Update Summary

• Regal Advertising Agreement now allows for up to 10 minutes post-showtime, extending available time.
• NCM LLC recently emerged from bankruptcy on August 7, 2023, impacting business operations.
• Post-Showtime Inventory changes may result in a 23.6% decrease in revenue from 2015 to 2023.
• Senior management spent significant time on bankruptcy negotiations, diverting focus from operations.
• Number of unique data records increased significantly from 273 million to 703 million.
• Risks associated with NCM LLC's emergence from bankruptcy include financial uncertainties and vendor relationships.
• Founding members' rights to receive additional units could exceed 20% of the business value.
• The ability to renew contracts and compete for new business may be adversely affected.
• Series B Preferred Stock entitled to 11.0% cumulative dividends on $1,000 per share liquidation value.
• Litigation with AMC and Cinemark regarding confirmation of the Plan could have a material adverse effect.
• Cinemark, Regal, AMC, Standard General may sell shares, impacting funding for growth.
• Changes in theater patron behavior could reduce viewership of Noovie Show, impacting revenue.
• Equity awards held by founding members upon vesting are freely tradable.
• The concentration of ownership by Blantyre Capital may delay or prevent a change in control.