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    Stockholder • Investor Relations Submission

    Stockholder's questions to Reading International Inc (RDI) leadership

    Stockholder's questions to Reading International Inc (RDI) leadership • Q1 2025

    Question

    A stockholder asked about the company's strategy for its live theater assets, the Minetta and Orpheum, particularly regarding their contribution to debt reduction and cash flow.

    Answer

    President and CEO Ellen Cotter affirmed that debt reduction and rebuilding operational cash flow are primary goals for 2025. The current strategy for the Minetta and Orpheum theaters is to rely on their after-debt-service cash flow. She noted that despite the closure of STOMP, the Orpheum's cash flow in Q4 2024 and Q1 2025 was comparable to pre-pandemic levels. The successful partnership with Audible at the Minetta is expected to continue. Cotter concluded that while the focus is on operations, the company remains open to reviewing all future opportunities for these assets.

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    Stockholder's questions to Reading International Inc (RDI) leadership • Q1 2025

    Question

    A stockholder questioned what proactive steps Reading International will take to attract sell-side analyst coverage and buy-side investors to improve its cost of capital and share valuation.

    Answer

    Andrzej Matyczynski, EVP of Global Operations, stated that in addition to presenting at the Sidoti Conference and holding one-on-one meetings, the company is arranging non-deal roadshows with existing analysts over the next three quarters. He also noted that while 'pay for coverage' firms have shown interest, management believes the expense is not the best use of capital at this time due to liquidity needs.

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    Stockholder's questions to Reading International Inc (RDI) leadership • Q1 2025

    Question

    A stockholder inquired about Reading International's cinema CapEx forecast for 2025, including details on cinema renovation projects currently in progress and those planned for the year.

    Answer

    President and CEO Ellen Cotter outlined that for 2025, one U.S. theater has plans filed for a renovation to convert 10 auditoriums to recliners and add a TITAN LUXE screen. In New Zealand, the company is developing plans for the Reading Cinema at Courtenay Central, which will feature recliners, premium experiences, and F&B upgrades. Cotter also mentioned four other cinemas (two in the U.S., one in Australia, one in New Zealand) are targeted for upgrades in late 2025 and early 2026, contingent on capital allocation and landlord negotiations.

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