Amc Theatres to Acquire Carmike Cinemas, Creating Largest Chain of Movie Theatres in the U.S

FOR IMMEDIATE RELEASE

AMC THEATRES TO ACQUIRE CARMIKE CINEMAS, CREATING LARGEST CHAIN OF MOVIE THEATRES IN THE U.S. AND THE WORLD

Combines Highly Complementary Theatre Circuits to Expand Platform for AMC’s Guest Experience and Strategic Growth Initiatives

Leawood, Kansas and Columbus, Georgia – March 3, 2016 — AMC Theatres (AMC Entertainment Holdings, Inc.) (NYSE: AMC) (“AMC”) and Carmike Cinemas, Inc. (NASDAQ: CKEC) (“Carmike”) announced today they have entered into a definitive merger agreement pursuant to which AMC will acquire all of the outstanding shares of Carmike for $30.00 per share in cash. The transaction is valued at approximately $1.1 billion, including the assumption of Carmike net indebtedness. The purchase price per screen is approximately $376,000, and the per share purchase price represents an approximate 19.47% premium to Carmike’s March 3, 2016 closing stock price.

The Combined Company After Closing the Transaction AMC is one of the nation’s premier entertainment companies with 5,426 screens and the most productive theatres in the country’s top markets. Carmike, America’s hometown theatre circuit, has 2,954 screens, primarily located in mid-size, non-urban communities. Together AMC and Carmike would have well over 600 theatre locations in 45 states across the country, including the District of Columbia. The transaction is expected to provide significant growth for AMC and will allow it to bring its innovative amenities and best-in-class customer experience to enhance the movie-going experience for more customers in more areas.

Key Benefits of the Transaction The transaction is expected to result in free cash flow per share accretion, exclusive of one-time transaction-related charges, in 2017 and beyond, and is expected to produce annual cost synergies of approximately $35 million. Other key benefits of the transaction include:

 Diversifying AMC’s footprint by adding theatres with complementary geographic and guest demographic profiles that strengthen the combined company’s admissions growth potential with limited geographic overlap;

 Expanding AMC’s proven and successful guest experience strategies to millions of new guests in complementary markets;

 Reducing related General and Administrative expenses by combining back-of-the-house functions such as accounting, finance and technology. The result is a more efficient and effective competitor through greater scale, scope and expertise. The combined company will be headquartered in Leawood, Kansas. Adam Aron will serve as Chief Executive Officer and President, and Craig Ramsey will serve as Executive Vice President and Chief Financial Officer;

 The maintenance of AMC’s quarterly dividend;

 The maintenance of AMC’s balance sheet flexibility and attractive leverage profile; and

 AMC’s receiving substantial additional value in NCM LLC, a subsidiary of National CineMedia, Inc. (NASDAQ: NCMI).

Commenting on the transaction, AMC Chief Executive Officer and President, Adam Aron said, “This is a compelling transaction that brings together two great companies with complementary strengths to create substantial value for our guests and shareholders. Through this transaction we expect to unlock synergies, sufficient we believe to make this transaction accretive in 2017. AMC also gets to extend the reach of our innovative, guest-experience strategies to further transform the movie-going experience for millions of new guests. We also look forward to welcoming so many talented Carmike employees to the AMC team.”

“Our combination with AMC is a transformative milestone for Carmike and one that provides significant value to Carmike shareholders,” stated David Passman, Carmike President and Chief Executive Officer. “By joining with AMC, we are bringing together two highly complementary theatre footprints and a shared commitment to service and innovation, positioning the combined company to deliver an even more compelling movie-going experience in many more locations across the country. I am proud of the Carmike employees whose dedication and hard work have made this combination and its many benefits possible. We look forward to working together with the AMC team to complete the transaction and to ensure a seamless transition.”

Aron added, “By broadening AMC’s geographic and demographic base for delivering our groundbreaking guest experience innovations in comfort and convenience -- such as plush power-recliners, enhanced food and beverage, premium sight and sound, greater guest engagement and targeted programming -- AMC is poised to deliver the best possible movie experience to more movie-goers than ever before.”

Approvals and Timing The transaction was approved by both Boards of Directors of AMC and Carmike, respectively.

The transaction is expected to be completed by the end of 2016, subject to customary closing conditions, including regulatory approval and approval by Carmike’s shareholders.

Additional Details The transaction, which has fully committed financing in place, will be funded through a combination of existing liquidity, including cash on hand, and incremental debt. The debt financing commitment is being provided by Citigroup Global Markets Inc. (“Citi”).

Citi is serving as exclusive financial advisor to AMC and Husch Blackwell LLP is serving as

AMC’s lead legal advisor. J.P. Morgan Securities LLC is serving as exclusive financial advisor and provided a fairness opinion to Carmike. King & Spalding LLP is acting as legal counsel to Carmike.

Conference Call AMC will discuss the transaction in greater detail on a conference call and webcast on Friday, March 4, 2016 at 7:30 a.m. CT/8:30 a.m. ET. To listen to the conference call via the internet, please visit the investor relations section of the AMC website at www.amctheatres.com for a link to the webcast. Investors and interested parties should go to the website at least 15 minutes prior to the call to register, and/or download and install any necessary audio software. To access the call from the U.S., dial (855) 327-6837. From international locations, the conference call can be accessed at (778) 327-3988. An archive of the webcast will be available at www.investor.amctheatres.com for a limited time after the call.

About AMC Theatres AMC (NYSE: AMC) is the guest experience leader with 387 locations and 5,426 screens located primarily in the United States. AMC has propelled innovation in the theatrical exhibition industry and continues today by delivering more comfort and convenience, enhanced food & beverage, greater engagement and loyalty, premium sight & sound, and targeted programming. AMC operates the most productive theatres in the country’s top markets, including No. 1 market share in the top three markets (NY, LA, Chicago) www.amctheatres.com.

About Carmike Cinemas Carmike Cinemas, Inc. is a U.S. leader in digital cinema, 3-D cinema deployments and alternative programming and is one of the nation's largest motion picture exhibitors. Carmike has 276 theatres with 2,954 screens in 41 states. The circuit includes 55 premium large format (PLF) auditoriums featuring state-of-the-art technology and luxurious seating, including 32 "BigDs," 21 IMAX auditoriums and two MuviXL screens. As "America's Hometown Theatre Chain" Carmike's primary focus is mid-sized communities. Visit www.carmike.com for more information.

Website Information This press release, along with other news about AMC, is available at www.amctheatres.com. We routinely post information that may be important to investors in the Investor Relations section of our website, www.investor.amctheatres.com. We use this website as a means of disclosing material, non-public information and for complying with our disclosure obligations under Regulation FD, and we encourage investors to consult that section of our website regularly for important information about AMC. The information contained on, or that may be accessed through, our website is not incorporated by reference into, and is not a part of, this document. Investors interested in automatically receiving news and information when posted to our website can also visit www.investor.amctheatres.com to sign up for E-mail Alerts.

Important Additional Information Regarding the Merger Will Be Filed With The SEC This press release may be deemed to be solicitation material in respect of the proposed merger. In connection with the proposed merger, Carmike will file with the Securities and Exchange Commission (the “SEC”) and furnish to its stockholders a proxy statement and other relevant documents. BEFORE MAKING ANY VOTING DECISION, CARMIKE’S STOCKHOLDERS ARE URGED TO READ THE PROXY STATEMENT IN ITS ENTIRETY WHEN IT BECOMES AVAILABLE AND ANY OTHER DOCUMENTS TO BE FILED WITH THE SEC IN CONNECTION WITH THE PROPOSED MERGER OR INCORPORATED BY REFERENCE IN THE PROXY STATEMENT BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED MERGER. Carmike’s stockholders will be able to obtain a free copy of the proxy statement, when available, and other relevant documents filed by Carmike with the

SEC at the SEC’s website at www.sec.gov. In addition, Carmike’s stockholders may obtain a free copy of the proxy statement, when available, and other relevant documents from Carmike’s website at http://www.carmikeinvestors.com/ or by contacting Carmike’s investor relations representatives by telephone at (212) 835-8500 or via email at [email protected].

Participants in the Solicitation Carmike and its officers and directors may be deemed to be participants in the solicitation of proxies from Carmike’s stockholders with respect to the proposed merger. Information about Carmike’s officers and directors and their ownership of Carmike common stock is set forth in the proxy statement for Carmike’s most recent annual meeting of stockholders, which was filed with the SEC on April 17, 2015. Investors and security holders may obtain more detailed information regarding the direct and indirect interests of the participants in the solicitation of proxies in connection with the proposed merger by reading the proxy statements regarding the proposed merger, which will be filed by Carmike with the SEC.

Forward-Looking Statements This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “forecast,” “plan,” “estimate,” “will,” “would,” “project,” “maintain,” “intend,” “expect,” “anticipate,” “strategy,” “future,” “likely,” “may,” “should,” “believe,” “continue,” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Similarly, statements made herein and elsewhere regarding the pending acquisition of Carmike are also forward-looking statements, including statements regarding the anticipated closing date of the acquisition, the source and structure of financing, management’s statements about effect of the acquisition on AMC’s future business, operations and financial performance and AMC’s ability to successfully integrate Carmike into its operations. These forward-looking statements are based on information available at the time the statements are made and/or managements’ good faith belief as of that time with respect to future events, and are subject to risks, trends, uncertainties and other facts that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. These risks, trends, uncertainties and facts include, but are not limited to, risks related to: the parties’ ability to satisfy closing conditions in the anticipated time frame or at all; obtaining regulatory approval, including the risk that any approval may be on terms, or subject to conditions, that are not anticipated; obtaining the Carmike stockholders’ approval; the possibility that the acquisition does not close, including in circumstances in which AMC would be obligated to pay Carmike a termination fee or other damages or expenses; related to financing the transaction, including AMC’s ability to finance the transaction on acceptable terms; responses of activist stockholders to the transaction; AMC’s ability to realize expected benefits and synergies from the acquisition; AMC’s effective implementation, and customer acceptance, of its two brand strategy; disruption from the proposed transaction making it more difficult to maintain relationships with customers, employees or suppliers; the diversion of management time on transaction-related issues; the negative effects of this announcement or the consummation of the proposed acquisition on the market price of AMC’s common stock; unexpected costs, charges or expenses relating to the acquisition; unknown liabilities; litigation and/or regulatory actions related to the proposed transaction; AMC’s significant indebtedness, including the indebtedness incurred to acquire Carmike; AMC’s ability to utilize net operating loss carry-forwards to reduce future tax liability; continued effectiveness of AMC’s strategic initiatives; the impact of governmental regulation, including anti-trust investigations concerning potentially anticompetitive conduct, including film clearances and participation in certain joint ventures; and other business effects, including the effects of industry, market, economic, political or regulatory conditions, future exchange or interest rates, changes in tax laws, regulations, rates and policies; and risks, trends, uncertainties and other facts discussed in the reports AMC and Carmike have filed with the

SEC. Should one or more of these risks, trends, uncertainties or facts materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by the forward-looking statements contained herein. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. For a detailed discussion of risks, trends and uncertainties facing AMC and Carmike, see the section entitled “Risk Factors” in AMC’s Annual Report on Form 10-K, filed with the SEC on March 10, 2015, the section entitled “Risk Factors” in Carmike’s Annual Report on Form 10-K filed with the SEC on February 29, 2016, and the risks, trends and uncertainties identified in their other public filings. Neither AMC nor Carmike intends, and undertakes no duty, to update any information contained herein to reflect future events or circumstances, except as required by applicable law.

AMC CONTACTS

INVESTOR RELATIONS: John Merriwether, 866-248-3872 [email protected]

MEDIA CONTACTS: Ryan Noonan, 913-213-2183 [email protected]

CARMIKE CONTACTS

INVESTOR RELATIONS: Norberto Aja or Jennifer Neuman JCIR 212-835-8500 or [email protected]

Richard B. Hare Chief Financial Officer 706-576-3416

MEDIA CONTACTS: Barrett Golden / Mahmoud Siddig Joele Frank, Wilkinson Brimmer Katcher 212-355-4449

###

AMC Entertainment Holdings, Inc. to Acquire Carmike Cinemas, Inc.

March 4, 2016 Disclaimer

2 Transaction Highlights

Creates the Expands Leading Platform For Significant Cost Complementary U.S. Growth Savings Footprints Exhibitor Initiatives

Combination of AMC and Carmike results in over 600 theatres in 45 states and the  District of Columbia Increases platform for AMC’s strategic growth initiatives  - Expect over 400 incremental Recliner Re-seat screens over the next 5 years  Expected significant cost savings of approximately $35 million annually

Circuits with limited geographic overlap and complementary genre box office  performance  Receive founder shares in National CineMedia, LLC to become largest founding shareholder

3 Transaction Overview

• Offer price of $30.00 all cash per Carmike share  19.47% premium to Carmike’s current share price(1)  Total cash consideration of $757 million Key  Total Enterprise Value of $1.1 billion Transaction Terms  Enterprise Value per Screen of approx. $376k • Annual synergies of approx. $35 million  Synergy adjusted Enterprise Value / LTM Adj. EBITDA purchase multiple of 6.5x • AMC will assume and / or refinance Carmike’s debt and capital leases

Combined • Maintain two brands, one focused on large, urban areas and one focused on midsize Operating non-urban areas Strategy • Plan to eliminate redundant overhead costs

• Shareholder vote required only for Carmike Closing • Subject to regulatory approvals and other customary closing conditions Conditions & Timing • Debt financing commitments are in place • Expected to close in fourth quarter 2016

(1) As of March 3, 2016. 4 Significant Value Creation for AMC Shareholders

Accretive to free cash flow per 2015 Revenue(1)  share in first full year ($ in millions) $3,751 Increases opportunity for deployment of growth initiatives $3,127  $2,947 $2,853 Expected annual cost synergies  of approximately $35 million  Quarterly dividend maintained Receive founder shares in $804  National CineMedia, LLC to become largest founding shareholder + To be financed with a mix of term  loan and bonds

(1) Source: Public filings 5 Pro Forma Circuit Snapshot Post + = Transaction 262 197 Attendance (in millions) 65

AMC Carmike PF AMC

663 387 Theatres 276

AMC Carmike PF AMC

8,380 5,426 2,954 Screens

AMC Carmike PF AMC Screens per Theatre 14.0 10.7 12.6

$3,751 $2,947 $1,369 Revenue $1,055 (in $million) $804 $2,382 $1,892 $314 $490 AMC Carmike PF AMC Admissions F&B and Other

Source: Public filings. 6 Complementary Circuits

Large Urban Areas Midsize Non-Urban Areas Geographic Focus Northeast, Midwest, West Coast South, Southeast

Theatres by DMA(1)

Top 10 DMAs 182 - (47%) 36 - (13%)

Top 11-25 DMAs 78 - (20%) 46 - (17%)

Top 25 – 50 DMAs 59 - (15%) 51 - (18%)

50+ 68 - (18%) 143 - (52%)

Top 5 Films in 2015 (Ordered by Rank)

2015 Operating Metrics

Attendance/Screen (000s) 39.9 22.6

Screens/Theatre 14.0 10.7

(1) Rentrak DMAs 7 Complementary Consumer Base Reduces Volatility

Comparative Box Office Performance Versus Industry Norm

Source: Rentrak - Reflects percentage of respective median box office market share. 8 Significant Synergy Opportunity

Ability to achieve synergies with…

+ Elimination of corporate overhead + Net operating contract synergies

Approximately $35 million of estimated annual operating = synergies + Larger platform of theatres for AMC growth initiatives + Additional founders shares in National Cinemedia, LLC to become the largest founding shareholder

9 AMC’s Growth Initiatives Have Track Record of Success

Recliner Success(1) Improvement Driven by F&B Initiatives(2)

F&B Take Rate as % of Total Attendance +60% Attendance +450 bps 68.8% $41 million +77% 64.3% additional annual F&B Total Revenue revenue 2011 2015

Dine-In Theatres redefine “Dinner and a Movie”(3)

+73% Total Revenue vs pre-DIT +174% F&B per patron +4% Attendance

(1) First 43 locations converted prior to January 1, 2016, excludes screens acquired. (2) 52 weeks ended December 29, 2011 and twelve months ended December 31, 2015 10 (3) First 11 locations open prior to January 1, 2014, Second year post –DIT compared to LTM pre-DIT. Combination Expands Platform for Growth Initiatives

Emerging Growth Circuit Big, Stable Core Recliner Dine-In Circuit Re-seats Theatres

AMC Current 3,995 1,119 312 Screens (1) AMC 5-Yr. Target 2,185 3,523 450 Screens (2) Carmike 5-Yr. Target 2,018 428 86 Screens(2) Consolidated 5-Yr. 4,203 3,951 536 Target Screens(2)

5-Yr. Target Standalone vs. Pro Forma AMC

Core Recliner Re-Seats Dine-in-Theatres

92.4% 12.1% 4,203 3,951 19.1% 3,523 2,185 536 450

Standalone Pro Forma Standalone Pro Forma Standalone Pro Forma

(1) As of December 31, 2015 11 (2) Includes new builds, spot acquisitions, conversions and closures Transaction Financing Overview ($ in millions)

 Fully committed financing Sources of Funds  TLB commitment of $560 million (under Amount %

existing accordion capacity) Inc. Sr. Sec. TLB(1) $325 39%  $325 million to fund acquisition New Sr. Sub. Notes 300 36%  $235 million to backstop the change Cash / Revolver 205 25% of control put option in the existing Total Sources $830 100% Carmike notes  $300 million subordinated bridge loan commitment Uses of Funds  Expected to be taken out with new Amount % subordinated notes prior to close Cash to Carmike s/h $757 91%

 Utilizing $205 million of combined Transaction Fees 73 9% cash/revolver and Expenses  Expected to close in Q4 2016 Total Uses $830 100%  Expected to delever below 3.5x by year end 2017

(1) Assumes Carmike bondholders do not exercise change of control put option. 12 Key Takeaways  Creates the leading U.S. theatrical exhibition company  Enhanced opportunities for AMC’s comfort and convenience growth  initiatives  Expect approximately $35 million annual run-rate synergies  Minimal overlap between AMC’s large urban areas and Carmike’s  midsize non-urban areas

 Receive additional founder shares in National CineMedia, LLC to  become largest founding shareholder  Accretive to free cash flow per share in first full year  Quarterly dividend maintained  Pro forma leverage expected to remain under 3.5x by year end  2017

13 Circuit Snapshot

WA 2 MT ND OR 5 4 MN 1 6 NH ID WI NY 1 1 SD MI WY 3 1 4 10 1 CT PA NE IA NJ 3 5 22 UT 2 OH 4 CA IN 5 1 CO IL WV DE, 8 12 5 4 KS 2 VA 1 MO KY 1 4 MD 1 6 NC 1 AZ TN 1 OK 22 NM 22 11 AR SC 1 6 GA 8 AL 25 19 TX 12

FL Summary of Sites 22 Shared, 3

Owned, States with 1 – 9 Theatres 54 Owned

States with 10 – 19 Theatres Leased Leased, 218 States with 20+ Theatres Shared Ownership

5 Carmike Cinemas, Inc., Letter to Carmike Associates, Form 8-K ex.99.2 (Mar. 3, 2016)

Exhibit 99.2

March 3, 2016

Dear Carmike Associate,

We announced today that Carmike Cinemas has entered into a definitive agreement to combine with AMC Theatres to create a new industry leader. A copy of the press release issued today can be found here: www.carmikeinvestors.com/PressReleases/Financial.

We believe AMC is an ideal partner for Carmike and that this combination represents a logical step forward for both of our companies. Our theatre footprints are highly complementary. Whereas Carmike has traditionally emphasized mid-sized communities for its theatre locations, AMC operates six of the top 10 highest grossing theatres in the country. Pending regulatory review, the combined company will operate more than 600 theatre locations across 45 states and the District of Columbia.

In addition, both Carmike and AMC are committed to delivering a superior entertainment experience. Similar to Carmike, AMC has been working to expand its concessions stands beyond the traditional favorites, including providing dine-in options. Like Carmike, AMC is also constantly upgrading the movie presentation, including a conversion to digital projection, 3D movies and more large- screen formats like IMAX and AMC’s Dolby Cinema at AMC Prime experience. By leveraging the innovation and expertise of both companies, we expect to be able to deliver an even more compelling movie-going experience to our guests in many more locations across the country.

For many Carmike employees, we expect this may lead to new career development opportunities as part of a larger, more diversified organization.

Keep in mind, today’s announcement is just the first step. Until the transaction closes, which we currently expect to occur by the end of 2016, we will continue to operate as a separate, independent company. It should be business as usual for Carmike employees. It is important that we remain focused on our day-to-day responsibilities.

Over the coming months, Carmike and AMC will be developing plans on how best to bring the companies together and capitalize on the capabilities and talent across each organization. We will share information as it is available. Right now, I can tell you that the combined company will be led by AMC’s leadership team at its current headquarters in the Kansas City Metro area.

There are still many details to be worked out.

Tomorrow, Friday, March 4th at 8:30am (ET), I’ll be hosting a meeting for all corporate employees at the Carmike Hollywood Connection Ritz 13 where we will discuss this further. Please make every effort to attend.

Today’s announcement may generate interest from those outside Carmike. As always, it is important for Carmike to speak with one voice. If you receive any outside inquiries, please forward them to Rob Collins, Chief Marketing Officer at 706-576-3459 or [email protected]. On behalf of our Board and management team, I want you to thank you for your hard work and dedication. Carmike’s employees are an essential part of our success and your contributions will continue to drive our company forward.

Sincerely,

David Passman President and Chief Executive Officer

Important Additional Information Regarding the Merger Will Be Filed With The SEC This communication may be deemed to be solicitation material in respect of the proposed merger. In connection with the proposed merger, Carmike Cinemas, Inc. will file with the Securities and Exchange Commission (the “SEC”) and furnish to its stockholders a proxy statement and other relevant documents. BEFORE MAKING ANY VOTING DECISION, CARMIKE CINEMAS, INC.’S STOCKHOLDERS ARE URGED TO READ THE PROXY STATEMENT IN ITS ENTIRETY WHEN IT BECOMES AVAILABLE AND ANY OTHER DOCUMENTS TO BE FILED WITH THE SEC IN CONNECTION WITH THE PROPOSED MERGER OR INCORPORATED BY REFERENCE IN THE PROXY STATEMENT BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED MERGER.

Carmike Cinemas, Inc.’s stockholders will be able to obtain a free copy of the proxy statement, when available, and other relevant documents filed by Carmike Cinemas, Inc. with the SEC at the SEC’s website at www.sec.gov. In addition, Carmike Cinemas, Inc.’s stockholders may obtain a free copy of the proxy statement, when available, and other relevant documents from Carmike Cinemas, Inc.’s website at www.carmikeinvestors.com or by contacting Carmike Cinemas, Inc.’s investor relations representatives by telephone at (212) 835-8500 or via email at [email protected].

Participants in the Solicitation Carmike Cinemas, Inc. and its directors, executive officers and certain other members of management and employees of Carmike Cinemas, Inc. may be deemed to be “participants” in the solicitation of proxies from Carmike Cinemas, Inc.’s stockholders in connection with the proposed merger. Information regarding the interests of the persons who may, under the rules of the SEC, be considered participants in the solicitation of Carmike Cinemas, Inc.’s stockholders in connection with the proposed merger, which may be different than those of Carmike Cinemas, Inc.’s stockholders generally, will be set forth in the proxy statement and the other relevant documents to be filed with the SEC. Carmike Cinemas, Inc.’s stockholders can find information about Carmike Cinemas, Inc. and its directors and executive officers and their ownership of Carmike Cinemas, Inc.’s common stock in Carmike Cinemas, Inc.’s annual report on Form 10-K for the fiscal year ended December 31, 2015, which was filed with the SEC on February 29, 2016, and in its definitive proxy statement for its most recent annual meeting of stockholders, which was filed with the SEC on April 17, 2015, and in Forms 4 of directors and executive officers filed with the SEC. Additional information regarding the interests of such individuals in the proposed merger will be included in the proxy statement relating to the proposed merger when it is filed with the SEC. These documents may be obtained free of charge from the SEC’s website at www.sec.gov and Carmike Cinemas, Inc.’s website at www.carmikeinvestors.com or by contacting Carmike Cinemas, Inc.’s investor relations representatives by telephone at (212) 835- 8500 or via email at [email protected]. March , 2016

Roland8 C. Smith, Chairman of the Board S. David Passman, III, Chief Executive Officer Carmike Cinemas Inc. 1301 First Avenue Columbus, GA 31901-2109

Dear Roland and David,

As you know, Mittleman Brothers LLC, an SEC-registered investment advisory firm, is the largest shareholder of Carmike Cinemas, Inc. (“Carmike”), controlling 1,755,345 shares (7.1%) as of March 4, 2016. We began acquiring this position in late 2007, and have held a significant stake in the company ever since; nearly eight and one-half years.

Today we changed our form 13G filing (initially filed August 2011) to a 13D because we intend to vote against, and to encourage other shareholders to vote against the merger agreement announced on March 3, 2016 whereby Carmike would be sold to AMC Entertainment Holdings, Inc. (“AMC”) for $30.00 per share in cash, a price we strongly believe to be unacceptably low.

We have long praised your stewardship of Carmike, since you both took control in early 2009. What was once a chronically underperforming and run-down theater chain has been transformed into a consistently outperforming circuit with industry-leading statistics in both attendance and concessions. All Carmike shareholders should be immensely grateful, as we are, for what you and the rest of the Carmike team have accomplished with this business during your seven years at the helm. From year-end 2008 to year-end 2015, a seven year period in which industry-wide box office receipts in North America rose from $9.63B to $11.12B (2.1% CAGR), Carmike’s sales increased from $473M to $804M (7.9% CAGR), EBITDA rose from $73M to $135M (9.2% CAGR), and the stock price went from $3.65 to $22.94 (30% CAGR). In contrast, Regal Entertainment Group (“RGC”), the largest theater chain in the U.S., grew sales from $2.77B to $3.13B (1.8% CAGR), EBITDA from $450M to $608M (4.4% CAGR), and stock price from $8.28 to $18.87 (18.8% CAGR including dividends).

Yet despite Carmike’s vast outperformance of industry giant RGC over these past seven years, the valuation at which Carmike has agreed to sell itself to AMC is vastly inferior to RGC’s current market trading valuation. RGC at last trade on March 4, 2016 of $20.38 had an enterprise value (“EV”) of $5.55B, which is 9.1x the $608M in EBITDA that RGC produced in 2015, without any control premium, which controlling shareholder Philip Anschutz would presumably require if he were to sell RGC. At the $30 take-over price from AMC, Carmike’s EV is $1.04B (adjusted for their 18% stake in Screenvision which I value at $50M), which is only 7.7x the $135M in EBITDA produced by Carmike in 2015. At the 9.1x EBITDA multiple where RGC is already trading in the open market today, Carmike would be $38 per share. There is no way that in a change-of-control, cash-out takeover, the stock should be surrendered for any less than that. Carmike’s stock was $35 in March of 2015, and $36 in June of 2014. But given Carmike’s superior performance, I believe $40 (9.5x EBITDA) is fair value for a complete cash- out change-of-control sale.

105 Maxess Road, Suite 207, Melville, NY 11747 Ӏ 400 Madison Avenue, Suite 14A, New York, NY 10017 tel (516) 686-6200 Ӏ fax (516) 686-6207 Ӏ www.mittlemanbrothers.com

After gloating about the great bargain price at which he obtained Carmike for his shareholders, AMC’s CEO, Adam Aron, on the March 4th conference call discussing the deal, indicated that he did not want to use AMC’s stock to purchase Carmike because AMC’s stock price in the low $20s was just too cheap to issue. That is interesting because AMC’s stock ($27 on 3/4/2016) at 8.1x EBITDA now is trading in the open market at just over the same valuation (7.7x) that Carmike’s board agreed to sell complete control of our company, apparently unfamiliar with the concept of a control premium which is customarily paid to the selling party, especially when a deal is done for cash. If this had been a stock swap, then an initially lower valuation might have been tolerable, given that the upside potential in the combined entity would be shared by both parties. But here, AMC is unwilling to share in the immense benefits this deal will bring to their shareholders, and Carmike failed to extract a fair price in relinquishing that upside potential. If AMC is unwilling to issue its shares at 8x EBITDA, why would Carmike sell our shares to AMC at 8x EBITDA? AMC’s EBITDA margin was 18.2% in 2015, vs. 16.8% for Carmike, but surely that 1.4% margin advantage cannot alone explain why AMC’s CEO and board rightly cling to their shares at 8x EBITDA, while Carmike’s CEO and board are content to give up ours at that same valuation.

But 8x EBITDA does not adequately describe the extent of the bargain that AMC will receive by paying only $30 per share for Carmike. Because of cost savings estimated by AMC to be $35M, the post-synergies adjusted multiple drops to 6.5x EBITDA. But wait, there’s more… By increasing its screen count by over 50% via this acquisition, AMC is estimated to gain $258M* in additional founder shares in National CineMedia, LLC (effectively equivalent to publically traded shares of National CineMedia, Inc. (NCMI)), which would further reduce the adjusted cost of the Carmike acquisition to a mere 5x EBITDA. And lastly, AMC has significant NOLs to shield Carmike’s net income from taxes for years to come, enhancing even further the free cash flow accretion to AMC. So Carmike’s scarcity value as the fourth largest theater company, and one of the best performing chains in the U.S., is thus squandered, while AMC goes from the second largest in the U.S. to the largest in the world, with all the economic benefits that such scale produces, in an immediately and massively accretive deal costing them only 5x EBITDA.

Carmike’s theaters are concentrated in the Southeastern and Southwestern parts of the U.S., demographically favorable regions with above average population growth. And while most of the money made in the movie theater business is made by the concessions sales (what AMC calls F&B, food and beverage), Carmike has the highest gross margin on their concession sales in the industry (89%) and the highest per capita concession sales at $5.33 per patron per visit in Q4 2015. AMC, a much larger company serving generally wealthier metro-area populations, had an 86% gross margin in concessions and a $4.75 per patron spend in Q4 2015. Again, Carmike displays superior performance worthy of a premium valuation, not a discounted one.

If AMC paid $40 per share to Carmike, ignoring the $50M in value I previously ascribed to Carmike’s Screenvision stake, the EV/EBITDA multiple Carmike would receive would be 9.9x. But adjusted for the $35M in annual synergies AMC would extract, the cost to them falls to 7.8x EBITDA, less than the cost to buy back their own stock in the open market today at $27. Then subtract the $258M in additional NCMI share value that AMC would receive, and the cost drops to only 6.3x. That’s all it would cost AMC to buy Carmike at $40 and become the largest movie theater company in the world. Giving it to them at $30, or 5x EBITDA , is an unwarranted gift.

* (estimated by The Benchmark Company, LLC, analyst Mike Hickey, report dated March 4, 2016)

105 Maxess Road, Suite 207, Melville, NY 11747 Ӏ 400 Madison Avenue, Suite 14A, New York, NY 10017 tel (516) 686-6200 Ӏ fax (516) 686-6207 Ӏ www.mittlemanbrothers.com MITTLEMAN BROTHERS INVESTMENT MANAGEMENT

Warren Buffett mentioned in 2011 admiring a certain company in which he had invested for the way that they treated their stock with"reverence'.' Ever since Carmike issued 5.2M shares at $18 per share in what proved to be a needless and highly dilutive secondary offering led by Macquarie in July 2013 at 6.7x EBITDA, I have feared that such a reverence for the share price might be lacking at Carmike. Sadly my fears are confirmed by this definitive merger agreement, with no apparent auction process, and no go-shop provision, at a valuation that fails to match even the low end of the trading values (much less the private market values) of the relevant comps. I kept silent about my concerns over the 2013 secondary at the time, hoping that there must have been some large accretive acquisition to be done at less than the 6.7x EBITDA for which the CKEC shares were sold, but no such deal materialized which would require such excess cash. Now you've committed to sell the entire company for 7.7x EBITDA, a below market valuation with no discernible control premium, and that we just cannot abide.

A few hours after I read the press release announcing this hideous deal last Thursday night, once I had regained consciousness, I began reviewing recent private market transactions in major movie theater companies (EV $1B+) in the developed world to see if any transactions had occurred at such a low valuation (8x EBITDA or less). I was not surprised to find that none had. The most recent transaction in a $1B+ enterprise value movie theater company was the London-based Vue Entertainment Ltd., bought out on 9 /30 /13 for $1.46B, or 8.5x $171 M in EBITDA, by two Canadian private equity firms, OMERS Private Equity and Alberta Investment Management Corp. What's impressive there is the 8.5x multiple was paid by a private equity group, not a strategic buyer with synergies to lower the ultimate cost. The only other $1B+ deal in the past five years was the Chinese company Dalian Wanda's $2.758 buyout of AMC announced in May 2012, which was a 9.lx EBITDA multiple on $303M adj. EBITDA in 2011.

If Carmike is to be sold to AMC, we would accept no less than $35 per share in AMC stock, or $40 per share in cash. We would prefer $35 in AMC stock primarily because AMC is also undervalued at 8.lx EBITDA now, and we believe it has a very bright future, especially when combined with Carmike.

We will reach out to other large Carmike shareholders beginning today and over the next few weeks to encourage them to vote against this merger based on its current terms. We expect most will be in substantial agreement with our view regarding the extent of the undervaluation of Carmike's shares represented by the $30 per share cash value offered by AMC.

At this time we do not plan on pursuing a proxy solicitation or seeking to exercise our dissenters' right of appraisal in Delaware, but we reserve our rights to all legal remedies if no better offer arises, and will explore other means of protecting our long-held investment in Carmike Cinemas.

Sincerely, C4/,11td=- Chris Mittleman Managing Partner Mittleman Brothers LLC

105 Maxess Road, Suite 207, Melville, NY 11747 I 400 Madison Avenue, Suite 14A, New York, NY 10017 tel (516) 686-6200 I fax (516) 686-6207 I www.mittlemanbrothers.com

Carmike Cinemas Issues Statement

COLUMBUS, Georgia – March 8, 2016 – Carmike Cinemas, Inc. (NASDAQ: CKEC) today issued the following statement regarding its previously announced definitive merger agreement with AMC Theatres (AMC Entertainment Holdings, Inc.) (NYSE: AMC) (“AMC”):

“The Carmike Board of Directors unanimously determined that AMC’s offer is in the best interest of Carmike’s shareholders. The Board made this determination after thoughtful consideration of the options available to the Company, including the level of interest from other third parties and the value potential of Carmike’s standalone plan. Carmike did not receive any offers that provided greater value than AMC’s $30 per share offer. We look forward to talking more with Carmike shareholders about the Board’s determination.”

J.P. Morgan Securities LLC is serving as exclusive financial advisor and provided a fairness opinion to Carmike in connection with the AMC definitive merger agreement. King & Spalding LLP is acting as legal counsel to Carmike.

About Carmike Cinemas

Carmike Cinemas, Inc. is a U.S. leader in digital cinema, 3-D cinema deployments and alternative programming and is one of the nation's largest motion picture exhibitors. Carmike has 276 theatres with 2,954 screens in 41 states. The circuit includes 55 premium large format (PLF) auditoriums featuring state-of-the-art technology and luxurious seating, including 32 "BigDs," 21 IMAX auditoriums and two MuviXL screens. As "America's Hometown Theatre Chain" Carmike's primary focus is mid-sized communities. Visit www.carmike.com for more information.

Important Additional Information Regarding the Merger Will Be Filed With The SEC

This press release may be deemed to be solicitation material in respect of the proposed merger. In connection with the proposed merger, Carmike Cinemas, Inc. (“Carmike”) will file with the Securities and Exchange Commission (the “SEC”) and furnish to its stockholders a proxy statement and other relevant documents. BEFORE MAKING ANY VOTING DECISION, CARMIKE’S STOCKHOLDERS ARE URGED TO READ THE PROXY STATEMENT IN ITS ENTIRETY WHEN IT BECOMES AVAILABLE AND ANY OTHER DOCUMENTS TO BE FILED WITH THE SEC IN CONNECTION WITH THE PROPOSED MERGER OR INCORPORATED BY REFERENCE IN THE PROXY STATEMENT BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED MERGER. Carmike’s stockholders will be able to obtain a free copy of the proxy statement, when available, and other relevant documents filed by Carmike with the SEC at the SEC’s website at www.sec.gov. In addition, Carmike’s stockholders may obtain a free copy of the proxy statement, when available, and other relevant documents from Carmike’s website at http://www.carmikeinvestors.com/.

Participants in the Solicitation

Carmike and its directors, executive officers and certain other members of management and employees of Carmike may be deemed to be “participants” in the solicitation of proxies from Carmike’s stockholders in connection with the proposed merger. Information regarding the interests of the persons who may, under the rules of the SEC, be considered participants in the solicitation of Carmike’s stockholders in connection with the proposed merger, which may be different than those of Carmike’s stockholders generally, will be set forth in the proxy statement and the other relevant documents to be filed with the SEC. Carmike stockholders can find information about Carmike and its directors and executive officers and their ownership of Carmike’s common stock in Carmike’s annual report on Form 10-K for the fiscal year ended December 31, 2015, which was filed with the SEC on February 29, 2016, and in its definitive proxy statement for its most recent annual meeting of stockholders, which was filed with the SEC on April 17, 2015, and in Forms 4 of directors and executive officers filed with the SEC. Additional information regarding the interests of such individuals in the proposed merger will be included in the proxy statement relating to the proposed merger when it is filed with the SEC. These documents may be obtained free of charge from the SEC’s website at www.sec.gov and Carmike’s website at www.carmikeinvestors.com.

Disclosure Regarding Forward-Looking Statements This press release contains forward-looking statements within the meaning of the federal securities laws. Statements that are not historical facts, including statements about our beliefs, expectations and future performance, are forward-looking statements. Forward-looking statements include statements preceded by, followed by or that include the words, “believes,” “expects,” “anticipates,” “plans,” “estimates,” “seeks” or similar expressions. Forward-looking statements are only predictions and are not guarantees of performance. These statements are based on beliefs and assumptions of management, which in turn are based on currently available information. The forward-looking statements also involve risks and uncertainties, which could cause actual results to differ materially from those contained in any forward-looking statement. Many of these factors are beyond our ability to control or predict. Important factors that could cause actual results to differ materially from those contained in any forward-looking statement include, but are not limited to: the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement with AMC; the inability to complete the proposed merger due to the failure to obtain Carmike stockholder or regulatory approval for the proposed merger or the failure to satisfy other conditions of the proposed merger within the proposed timeframe or at all; disruption in key business activities or any impact on Carmike’s relationships with third parties as a result of the announcement of the proposed merger; the failure to obtain the necessary financing arrangements as set forth in the debt commitment letters delivered pursuant to the merger agreement with AMC, or the failure of the proposed merger to close for any other reason; risks related to disruption of management’s attention from Carmike’s ongoing business operations due to the proposed merger; the outcome of any legal proceedings, regulatory proceedings or enforcement matters that may be instituted against Carmike and others relating to the merger agreement with AMC; the risk that the pendency of the proposed merger disrupts current plans and operations and the potential difficulties in employee retention as a result of the pendency of the proposed merger; the amount of the costs, fees, expenses and charges related to the proposed merger; adverse regulatory decisions; unanticipated changes in the markets for Carmike’s business segments; general economic conditions in Carmike’s regional and national markets; Carmike’s ability to comply with covenants contained in the agreements governing Carmike’s indebtedness; Carmike’s ability to operate at expected levels of cash flow; financial market conditions including, but not limited to, changes in interest rates and the availability and cost of capital; Carmike’s ability to meet its contractual obligations, including all outstanding financing commitments; the availability of suitable motion pictures for exhibition in Carmike’s markets; competition in Carmike’s markets; competition with other forms of entertainment; the effect of Carmike’s leverage on its financial condition; prices and availability of operating supplies; the impact of continued cost control procedures on operating results; the impact of asset impairments; the impact of terrorist acts; changes in tax laws, regulations and rates; and financial, legal, tax, regulatory, legislative or accounting changes or actions that may affect the overall performance of Carmike’s business.

Carmike Contacts

Investor Relations: Richard B. Hare, 706-576-3416 Chief Financial Officer or Innisfree M&A Arthur Crozier or Larry Miller 212-750-5833 [email protected]

Media Contacts: Joele Frank, Wilkinson Brimmer Katcher Barrett Golden or Mahmoud Siddig 212-355-4449

###

Unit 1 INTRODUCTION TO MERGER ANTITRUST LAW

Links to Readings

Todd Cunningham, Angry Shareholders, Cautious Justice Department Threaten AMC’s Deal for Carmike, The Wrap.com (Mar. 8, 2016) Brent Lang, AMC Chief Says Deal for Carmike Is in Jeopardy, Variety.com (June 30, 2016) J. Sperling Reich, CJ Analysis: AMC Acquisition of Carmike in Jeopardy, CelluloidJunkie.com (June 30, 2016)

AMC Statement on Carmike Meeting Being Adjourned to July 15, 2016 ... http://www.businesswire.com/news/home/20160630005720/en/

AMC Statement on Carmike Meeting Being Adjourned to July 15, 2016 at Which Carmike Shareholders Will Vote on the AMC/Carmike Merger Transaction

June 30, 2016 09:29 AM Eastern Daylight Time

LEAWOOD, Kan.--(BUSINESS WIRE)--Adam Aron, AMC Entertainment Holdings, Inc. (NYSE: AMC) (“AMC”) CEO and President issued the following statement today:

“AMC Entertainment remains committed to our proposed transaction to acquire Carmike Cinemas. The rationale to acquire Carmike continues to be valid, namely to create a larger system of theatres nationwide, to introduce AMC’s consumer- friendly movie going guest amenities across a broader network of theaters as well as to achieve cost efficiencies and synergies.

"Even so, this transaction is now at considerable risk.

“We believe that the loose price talk by some in the market about a potential transaction with Carmike has been unrealistically overstated.

"Additionally, the public discussion to date has erroneously neglected to factor in that the Carmike transaction's value to AMC is materially reduced by the value leakage from regulatory driven theatre and other potential divestitures, tax implications regarding the receipt of National CineMedia, Inc. (NASDAQ: NCMI) (“NCM”) founders shares and required annual make-whole payments to be made to NCM, as well as significant company integration and transaction costs.

"Nor has the conversation taken into consideration the considerable weakening of the industry-wide movie box office since the transaction was announced.

"With respect to M&A activity, AMC is a disciplined buyer. We note that the financial metrics surrounding the Carmike acquisition get marginal very quickly above the $30.00 deal price. Accordingly, we are fully prepared to see the Carmike transaction pass by the wayside.

"These views in mind, AMC has requested that the Carmike shareholder vote be adjourned from June 30 to July 15, 2016 giving time for all concerned to determine if this transaction will be preserved or instead abandoned.

"With or without a Carmike combination, as a leader in guest engagement and theatre innovation, we could not be more confident that AMC’s future prospects are extraordinarily bright.”

About AMC Entertainment Holdings, Inc.

1 of 3 12/27/2016 8:28 AM AMC Statement on Carmike Meeting Being Adjourned to July 15, 2016 ... http://www.businesswire.com/news/home/20160630005720/en/ AMC is the guest experience leader with 385 locations and 5,380 screens located primarily in the United States. AMC has propelled innovation in the theatrical exhibition industry and continues today by delivering more comfort and convenience, enhanced food & beverage, greater engagement and loyalty, premium sight & sound, and targeted programming. AMC operates the most productive theatres in the country’s top markets, including No. 1 market share in the top three markets (NY, LA, Chicago). www.amctheatres.com.

Website Information

This press release, along with other news about AMC, is available at www.amctheatres.com. We routinely post information that may be important to investors in the Investor Relations section of our website, www.investor.amctheatres.com. We use this website as a means of disclosing material, non-public information and for complying with our disclosure obligations under Regulation FD, and we encourage investors to consult that section of our website regularly for important information about AMC. The information contained on, or that may be accessed through, our website is not incorporated by reference into, and is not a part of, this document. Investors interested in automatically receiving news and information when posted to our website can also visit www.investor.amctheatres.com to sign up for E-mail Alerts.

Important Additional Information Regarding the Merger

This press release may be deemed to be solicitation material in respect of the proposed merger of Carmike Cinemas, Inc. (“Carmike”) with and into a wholly-owned subsidiary of AMC. In connection with the proposed merger, Carmike filed a definitive proxy statement with the Securities and Exchange Commission (“SEC”) on May 23, 2016. Carmike mailed the definitive proxy statement to its stockholders on or about May 25, 2016. BEFORE MAKING ANY VOTING DECISION, CARMIKE’S STOCKHOLDERS ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT IN ITS ENTIRETY AND ANY OTHER DOCUMENTS TO BE FILED WITH THE SEC IN CONNECTION WITH THE PROPOSED MERGER OR INCORPORATED BY REFERENCE IN THE DEFINITIVE PROXY STATEMENT BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED MERGER.

Carmike stockholders are able to obtain a free copy of the definitive proxy statement and other relevant documents filed by Carmike with the SEC at the SEC’s website at www.sec.gov. In addition, Carmike stockholders may obtain a free copy of the proxy statement and other relevant documents from the Carmike’s website at http://www.carmikeinvestors.com/.

Participants in the Solicitation

This communication does not constitute a solicitation of a proxy from any stockholder with respect to the proposed merger. However, AMC and its directors and executive officers, may be deemed to be participants in the solicitation of proxies with respect to the proposed merger. More detailed information regarding the identity of these potential participants, and their direct or indirect interests, by security holdings or otherwise, is set forth in the definitive proxy statement filed by AMC with the SEC on March 15, 2016 and in the Annual Report on Form 10-K filed by AMC with the SEC on March 8, 2016. Carmike stockholders may obtain a free copy of these filings from the SEC’s website at ww.sec.gov and from the investor relations section of AMC’s website at amctheatres.com.

Forward-Looking Statements

2 of 3 12/27/2016 8:28 AM AMC Statement on Carmike Meeting Being Adjourned to July 15, 2016 ... http://www.businesswire.com/news/home/20160630005720/en/ transaction; our ability to realize expected benefits and synergies from the proposed Carmike acquisition; execution risks related to the proposed Carmike acquisition; litigation and/or regulatory actions related to the proposed Carmike transaction; our significant indebtedness, including the indebtedness incurred to acquire Carmike; execution risks related to the integration of Starplex Cinemas into our business; our ability to achieve expected synergies and performance from our acquisition of Starplex Cinemas; decreased supply, quality and performance of, and delays in our access to, motion pictures; risks relating to our significant indebtedness; our ability to utilize net operating loss carry forwards to reduce future tax liability; increased competition in the geographic areas in which we operate and from alternative film delivery methods and other forms of entertainment; continued effectiveness of our strategic initiatives; the impact of shorter theatrical exclusive release windows; our ability to attract and retain senior executives and other key personnel; the impact of governmental regulation, including anti-trust review of our acquisition opportunities and investigations concerning potentially anticompetitive conduct, including film clearances and participation in certain joint ventures; unexpected delays and costs related to our optimization of our theatre circuit; failures, unavailability or security breaches of our information systems; and other business effects, including the effects of industry, market, economic, political or regulatory conditions, future exchange or interest rates, changes in tax laws, regulations, rates and policies.

Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. For a detailed discussion of these risks and uncertainties, see the section entitled “Risk Factors” in our Annual Report on Form 10-K, filed with the Securities and Exchange Commission on March 8, 2016, and our other public filings. The Company does not intend, and undertakes no duty, to update this information to reflect future events or circumstances, except as required by applicable law.

Contacts AMC Entertainment Holdings, Inc. INVESTOR RELATIONS: John Merriwether, 866-248-3872 [email protected] or MEDIA CONTACTS: Ryan Noonan, (913) 213-2183 [email protected]

3 of 3 12/27/2016 8:28 AM

CARMIKE CINEMAS ANNOUNCES INTENTION TO ADJOURN SPECIAL MEETING UNTIL JULY 25, 2016

COLUMBUS, Georgia, July 14, 2016 – Carmike Cinemas, Inc. (NASDAQ: CKEC) (“Carmike”) today announced that in light of ongoing discussions between Carmike and AMC Entertainment Holdings, Inc. (NYSE:AMC) (“AMC”) regarding the previously announced merger agreement between AMC and Carmike, Carmike intends to adjourn the Special Meeting of Stockholders scheduled for July 15, 2016.

Carmike intends to reconvene the Special Meeting on July 25, 2016 at 9:00 a.m. local time, at the offices of King & Spalding LLP located at 1180 Peachtree Street, N.E., Atlanta, Georgia 30309. The record date for stockholders entitled to vote at the Special Meeting remains May 18, 2016.

There can be no assurances regarding the outcome of any discussions between Carmike and AMC regarding the previously announced merger agreement.

Carmike stockholders who have questions or need assistance voting their shares can contact Innisfree M&A Incorporated, the firm assisting Carmike in its solicitation of proxies in connection with the AMC transaction, at (888) 750-5834 (toll-free).

About Carmike Cinemas (www.carmike.com) Carmike Cinemas, Inc. is a U.S. leader in digital cinema, 3-D cinema deployments and alternative programming and is one of the nation's largest motion picture exhibitors. Carmike has 273 theatres with 2,938 screens in 41 states. The circuit includes 55 premium large format (PLF) auditoriums featuring state-of-the-art technology and luxurious seating, including 32 "BigDs," 21 IMAX auditoriums and two MuviXL screens. As "America's Hometown Theatre Chain" Carmike's primary focus is mid-sized communities. Visit www.carmike.com for more information.

Carmike’s relationships with third parties as a result of the announcement of the proposed merger; the failure to obtain the necessary financing arrangements as set forth in the debt commitment letters delivered pursuant to the merger agreement with AMC, or the failure of the proposed merger to close for any other reason; risks related to disruption of management’s attention from Carmike’s ongoing business operations due to the proposed merger; the outcome of any legal proceedings, regulatory proceedings or enforcement matters that may be instituted against Carmike and others relating to the merger agreement with AMC; the risk that the pendency of the proposed merger disrupts current plans and operations and the potential difficulties in employee retention as a result of the pendency of the proposed merger; the amount of the costs, fees, expenses and charges related to the proposed merger; adverse regulatory decisions; unanticipated changes in the markets for Carmike’s business segments; general economic conditions in Carmike’s regional and national markets; Carmike’s ability to comply with covenants contained in the agreements governing Carmike’s indebtedness; Carmike’s ability to operate at expected levels of cash flow; financial market conditions including, but not limited to, changes in interest rates and the availability and cost of capital; Carmike’s ability to meet its contractual obligations, including all outstanding financing commitments; the availability of suitable motion pictures for exhibition in Carmike’s markets; competition in Carmike’s markets; competition with other forms of entertainment; the effect of Carmike’s leverage on its financial condition; prices and availability of operating supplies; the impact of continued cost control procedures on operating results; the impact of asset impairments; the impact of terrorist acts; changes in tax laws, regulations and rates; and financial, legal, tax, regulatory, legislative or accounting changes or actions that may affect the overall performance of Carmike’s business.

Important Additional Information Regarding the Merger This press release may be deemed to be solicitation material in respect of the proposed merger of Carmike with and into a wholly-owned subsidiary of AMC. In connection with the proposed merger, Carmike filed a definitive proxy statement with the SEC on May 23, 2016. Carmike mailed the definitive proxy statement to its stockholders on or about May 25, 2016. BEFORE MAKING ANY VOTING DECISION, CARMIKE’S STOCKHOLDERS ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT IN ITS ENTIRETY AND ANY OTHER DOCUMENTS TO BE FILED WITH THE SEC IN CONNECTION WITH THE PROPOSED MERGER OR INCORPORATED BY REFERENCE IN THE DEFINITIVE PROXY STATEMENT BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED MERGER.

Carmike’s stockholders are able to obtain a free copy of the definitive proxy statement and other relevant documents filed by Carmike with the SEC at the SEC’s website at www.sec.gov. In addition, Carmike’s stockholders may obtain a free copy of the proxy statement and other relevant documents from Carmike’s website at http://www.carmikeinvestors.com/.

Participation in the Solicitation Carmike and its directors, executive officers and certain other members of management and employees of Carmike may be deemed to be “participants” in the solicitation of proxies from Carmike’s stockholders in connection with the proposed merger. Information regarding the interests of the persons who may, under the rules of the SEC, be considered participants in the solicitation of Carmike’s stockholders in connection with the proposed merger, which may be different than those of Carmike’s stockholders generally, is set forth in the definitive proxy statement filed with the SEC on May 23, 2016. Carmike’s

stockholders may obtain a free copy of the definitive proxy statement from Carmike in the manner set forth above.

Carmike Contacts Investor Relations: Richard B. Hare, 706-576-3416 Chief Financial Officer or Innisfree M&A Arthur Crozier or Larry Miller 212-750-5833 [email protected]

Media Contacts: Joele Frank, Wilkinson Brimmer Katcher Barrett Golden or Mahmoud Siddig 212-355-4449

AMC Statement on Potential Carmike Cinemas Acquisition | Business Wire http://www.businesswire.com/news/home/20160712005573/en/

AMC Statement on Potential Carmike Cinemas Acquisition

July 12, 2016 06:56 AM Eastern Daylight Time

LEAWOOD, Kan.--(BUSINESS WIRE)--In light of the announcement made today by AMC Entertainment Holdings, Inc. (NYSE: AMC) (“AMC”) that it will be acquiring Odeon & UCI Cinemas Group, AMC wanted to reiterate its views on a potential acquisition of Carmike Cinemas (NASDAQ: CKEC).

Adam Aron, AMC CEO and President, said:

“AMC remains committed to moving forward with our plan to acquire Carmike Cinemas.

“However, as per our statement two weeks back, some Carmike shareholders have an unrealistic view as to Carmike’s value to AMC, and their resulting price expectations are simply beyond what AMC believes is prudent to pay. We have said all along that AMC is a disciplined buyer, and that very much continues to be the case.

“We intend to continue to work this week with Carmike to see if the AMC/Carmike transaction can be saved, but we again note that the economics of a transaction get marginal very quickly for AMC above the $30 deal price.

“Therefore, the likelihood of an AMC/Carmike transaction continues to be at considerable risk.

“Either way, so be it. AMC combined with Odeon & UCI, or AMC combined with Odeon & UCI along with Carmike, will be a terrific company.”

About AMC Entertainment Holdings, Inc.

AMC is the guest experience leader with 385 locations and 5,380 screens located primarily in the United States. AMC has propelled innovation in the theatrical exhibition industry and continues today by delivering more comfort and convenience, enhanced food & beverage, greater engagement and loyalty, premium sight & sound, and targeted programming. AMC operates the most productive theatres in the country’s top markets, including No. 1 market share in the top three markets (NY, LA, Chicago). www.amctheatres.com.

Website Information

This press release, along with other news about AMC, is available at www.amctheatres.com. We routinely post information that may be important to investors in the Investor Relations section of our website, www.investor.amctheatres.com. We use this website as a means of disclosing material, non-public information and for complying with our disclosure obligations under Regulation FD, and we encourage investors to consult that section of our website regularly for important information about AMC. The information contained on, or that may be accessed through, our website is not incorporated by reference into, and is not a part of, this document. Investors interested in automatically receiving news and information 1 of 3 12/27/2016 8:34 AM AMC Statement on Potential Carmike Cinemas Acquisition | Business Wire http://www.businesswire.com/news/home/20160712005573/en/ when posted to our website can also visit www.investor.amctheatres.com to sign up for E-mail Alerts.

Important Additional Information Regarding the Merger

Participants in the Solicitation

Forward-Looking Statements

2 of 3 12/27/2016 8:34 AM AMC Statement on Potential Carmike Cinemas Acquisition | Business Wire http://www.businesswire.com/news/home/20160712005573/en/ in certain joint ventures; operating a business in markets AMC is unfamiliar with; the United Kingdom’s exit from the European Union; and other business effects, including the effects of industry, market, economic, political or regulatory conditions, future exchange or interest rates, changes in tax laws, regulations, rates and policies; and risks, trends, uncertainties and other facts discussed in the reports AMC has filed with the SEC. Should one or more of these risks, trends, uncertainties or facts materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by the forward-looking statements contained herein. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made.

Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. For a detailed discussion of risks, trends and uncertainties facing AMC, see the section entitled “Risk Factors” in AMC’s Annual Report on Form 10-K, filed with the SEC on March 8, 2016, and the risks, trends and uncertainties identified in their other public filings. AMC does not intend, and undertakes no duty, to update any information contained herein to reflect future events or circumstances, except as required by applicable law.

Contacts AMC Entertainment Holdings, Inc. Investor Relations: John Merriwether, 866-248-3872 [email protected] or Media Contacts: Ryan Noonan, 913-213-2183 [email protected]

3 of 3 12/27/2016 8:34 AM AMC Theatres Makes Best and Final Offer to Acquire Carmike Cinemas... http://www.businesswire.com/news/home/20160725005554/en/

AMC Theatres Makes Best and Final Offer to Acquire Carmike Cinemas for $33.06 Per Share in Cash and Stock

Amended merger agreement increases value to Carmike stockholders Offer will be comprised of 70% cash and 30% in AMC equity

July 25, 2016 06:43 AM Eastern Daylight Time

LEAWOOD, Kan.--(BUSINESS WIRE)--AMC Theatres (AMC Entertainment Holdings, Inc.) (NYSE: AMC) (“AMC”) announced today that it has entered into an amended and restated merger agreement pursuant to which AMC will acquire all outstanding shares of Carmike Cinemas, Inc. (NASDAQ: CKEC) (“Carmike”) for $33.06 per share in cash and stock. The amended merger agreement represents AMC’s “best and final” offer. The revised offer provides an additional $3.06 per share or 10.2% more than the previous offer. Carmike stockholders can elect to receive $33.06 in cash or 1.0819 AMC shares per Carmike share, subject to a customary proration mechanism to achieve an aggregate consideration mix of 70% cash and 30% in shares of AMC stock. The revised offer represents an approximate 32% premium to Carmike’s March 3, 2016, closing stock price. Based on the closing trading price of AMC’s common stock on the New York Stock Exchange on July 22, 2016, the transaction is valued at approximately $1.2 billion, including the assumption of Carmike net indebtedness.

Adam Aron, CEO and President of AMC, said, “We continue to believe that the proposed merger between AMC and Carmike is a compelling opportunity that offers significant value to both companies’ shareholders. Accordingly, after substantial and extended negotiation with Carmike, we have increased our offer to an approximate 32% premium over the unaffected share price on March 3, 2016, and have incorporated AMC shares as a significant portion of the consideration for this transaction. This will enable Carmike shareholders to participate in the future upside potential of this attractive combination of complementary theatre exhibitors. This is particularly true when also considering AMC’s announced acquisition of Odeon & UCI Cinemas in Europe. By broadening AMC’s geographic and demographic base for delivering our groundbreaking guest experience innovations, AMC is poised to deliver the best possible movie experience to more movie-goers than ever before.”

Aron remarked, “Some Carmike stockholders may still oppose this transaction because of published analysis that we believe is materially flawed. For example, movie theatre transactions in Europe and Asia/Pacific are erroneously cited as comparables for the Carmike purchase, even though the major U.S.-based theatre operators trade every day on U.S. exchanges at considerably lower multiples. As another example, some take AMC’s tax NOL’s and apply them to the Carmike transaction, even though we have alternate uses for these credits. As such, they understate the incremental cash tax cost to AMC. Similarly ignored are the sizable transaction and company integration costs, as well as the leakage that will occur with the theatres that AMC is forced to divest after regulatory review.”

Aron further added, “For absolute clarity, let there be zero room for doubt or miscalculation. This latest agreement between

1 of 5 12/27/2016 8:38 AM AMC Theatres Makes Best and Final Offer to Acquire Carmike Cinemas... http://www.businesswire.com/news/home/20160725005554/en/ AMC and Carmike is our best and final offer for Carmike. While we would like this transaction to go forward, we are fully prepared to focus instead only on the improving fortunes of AMC and on our Odeon & UCI acquisition in Europe if a majority of Carmike shareholders do not find this revised offer attractive. In our view it would be very unfortunate if this transaction were to break which would deprive Carmike stockholders of the approximate 32% premium that AMC is offering.”

Key Benefits of the Transaction

The transaction is expected to produce annual cost synergies of approximately $35 million. Other key benefits of the transaction include: Diversifying AMC’s footprint by adding theatres with complementary geographic and guest demographic profiles that strengthen the combined company’s admissions growth potential with limited geographic overlap; The reduction of related General and Administrative expenses by combining back-of- the-house functions such as accounting, finance and technology. The result is a more efficient and effective competitor through greater scale, scope and expertise. The combined company will be headquartered in Leawood, Kansas. Adam Aron will serve as Chief Executive Officer and President, and Craig Ramsey will serve as Executive Vice President and Chief Financial Officer; The expansion of AMC’s proven and successful guest experience strategies to millions of new guests in complementary markets; Combined with AMC’s announced acquisition of Odeon & UCI Cinemas in Europe, this transaction further increases AMC’s world’s largest movie theatre platform; Expects to maintain quarterly dividend; The receipt of substantial additional value in NCM LLC, a subsidiary of National CineMedia, Inc. (NASDAQ: NCMI), subject to taxes and make whole payments.

Approvals and Timing

The revised offer was approved by both Boards of Directors of AMC and Carmike, respectively.

The transaction is expected to be completed by the end of 2016, subject to customary closing conditions, including regulatory approval and approval by Carmike’s shareholders.

Additional Details

The transaction, which has fully committed financing in place, will be funded through a combination of existing liquidity, including cash on hand, incremental debt, and equity issuance. The debt financing commitment is being provided by Citigroup Global Markets Inc. (“Citi”).

Citi is serving as exclusive financial advisor to AMC and Husch Blackwell LLP is serving as AMC’s lead legal advisor.

Conference Call / Webcast Information

The Company will host a conference call via webcast for investors and other interested parties beginning at 9:30 a.m. CT/10:30 a.m. ET on Monday, July 25, 2016. To listen to the conference call via the internet, please visit the investor relations section of the AMC website at www.investor.amctheatres.com for a link to the webcast. Investors and interested parties should go to the website at least 15 minutes prior to the call to register, and/or download and install any necessary audio software.

2 of 5 12/27/2016 8:38 AM AMC Theatres Makes Best and Final Offer to Acquire Carmike Cinemas... http://www.businesswire.com/news/home/20160725005554/en/ Participants may also listen to the call by dialing (877) 407-3982, or (201) 493-6780 for international participants.

A podcast and archive of the webcast will be available on the Company’s website after the call for a limited time.

About AMC Theatres

AMC (NYSE: AMC) is the guest experience leader with 385 locations and 5,380 screens located primarily in the United States. AMC has propelled innovation in the theatrical exhibition industry and continues today by delivering more comfort and convenience, enhanced food & beverage, greater engagement and loyalty, premium sight & sound, and targeted programming. AMC operates the most productive theatres in the country’s top markets, including No. 1 market share in the top three markets (NY, LA, Chicago) www.amctheatres.com.

Website Information

Important Additional Information Regarding the Merger Will Be Filed with the SEC

This press release may be deemed to be solicitation material in respect of the proposed merger of Carmike with and into a wholly-owned subsidiary of AMC. In connection with the proposed merger, AMC and Carmike will file with the Securities and Exchange Commission (“SEC”) a Registration Statement on Form S-4 (the “Registration Statement”) containing a prospectus with respect to the AMC common stock to be issued in the proposed merger and a proxy statement of Carmike in connection with the proposed merger (the “Proxy Statement/Prospectus”). The proxy statement of Carmike contained in the Proxy Statement/Prospectus will replace the definitive proxy statement which Carmike previously filed with the SEC on May 23, 2016, and mailed to its stockholders on or about May 25, 2016. Each of AMC and Carmike intends to file other documents with the SEC regarding the proposed merger. The definitive Proxy Statement/Prospectus will be mailed to stockholders of Carmike and will contain important information about the proposed merger and related matters.

BEFORE MAKING ANY INVESTMENT OR VOTING DECISION, CARMIKE’S STOCKHOLDERS ARE URGED TO READ CAREFULLY THE DEFINITIVE PROXY STATEMENT/PROSPECTUS IN ITS ENTIRETY WHEN IT BECOMES AVAILABLE (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS THAT AMC OR CARMIKE HAS FILED OR MAY FILE WITH THE SEC IN CONNECTION WITH THE PROPOSED MERGER, OR WHICH ARE INCORPORATED BY REFERENCE IN THE DEFINITIVE PROXY STATEMENT/PROSPECTUS, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED MERGER.

Carmike’s stockholders will be able to obtain, free of charge, copies of the definitive Proxy Statement/Prospectus and Registration Statement, when available, and other relevant documents filed by AMC and Carmike with the SEC, at the SEC’s website at www.sec.gov. In addition, Carmike’s stockholders may obtain free copies of the Proxy Statement/Prospectus and other relevant documents filed by Carmike with the SEC from Carmike’s website at http://www.carmikeinvestors.com/.

This communication does not constitute an offer to buy or exchange, or the solicitation of an offer to sell or exchange, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This communication is not a substitute for any prospectus, proxy statement or any other document that AMC or Carmike may file with the SEC in connection with the proposed merger.

Participants in the Solicitation

3 of 5 12/27/2016 8:38 AM AMC Theatres Makes Best and Final Offer to Acquire Carmike Cinemas... http://www.businesswire.com/news/home/20160725005554/en/ This communication does not constitute a solicitation of a proxy from any stockholder with respect to the proposed merger. However, each of AMC, Carmike and their respective directors and executive officers, may be deemed to be participants in the solicitation of proxies from Carmike’s stockholders with respect to the proposed merger. More detailed information regarding the identity of these potential participants, and any direct or indirect interests they may have in the proposed merger, by security holdings or otherwise, will be set forth in the Proxy Statement/Prospectus, which will replace the definitive proxy statement which Carmike previously filed with the SEC on May 23, 2016, and mailed to its stockholders on or about May 25, 2016. Additional information concerning AMC’s directors and executive officers is set forth in the definitive proxy statement filed by AMC with the SEC on March 15, 2016, and in the Annual Report on Form 10-K filed by AMC with the SEC on March 8, 2016. These documents are available to Carmike stockholders free of charge from the SEC’s website at www.sec.gov and from the investor relations section of AMC’s website at amctheatres.com. Additional information concerning Carmike’s directors and executive officers and their ownership of Carmike common stock is set forth in the proxy statement for Carmike’s most recent annual meeting of stockholders, which was filed with the SEC on April 15, 2016, and in the Annual Report on Form 10 K filed by Carmike with the SEC on February 29, 2016. These documents are available to Carmike stockholders free of charge from the SEC’s website at www.sec.gov and from Carmike’s website at http://www.carmikeinvestors.com/.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “forecast,” “plan,” “estimate,” “will,” “would,” “project,” “maintain,” “intend,” “expect,” “anticipate,” “strategy,” “future,” “likely,” “may,” “should,” “believe,” “continue,” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Similarly, statements made herein and elsewhere regarding the pending acquisitions of Odeon and Carmike Cinemas (collectively “the targets”) are also forward-looking statements, including statements regarding the anticipated closing date of the acquisitions, the source and structure of financing, management’s statements about effect of the acquisitions on AMC’s future business, operations and financial performance and AMC’s ability to successfully integrate the targets into its operations. These forward-looking statements are based on information available at the time the statements are made and/or managements’ good faith belief as of that time with respect to future events, and are subject to risks, trends, uncertainties and other facts that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. These risks, trends, uncertainties and facts include, but are not limited to, risks related to: the parties’ ability to satisfy closing conditions in the anticipated time frame or at all; obtaining regulatory approval, including the risk that any approval may be on terms, or subject to conditions, that are not anticipated; obtaining the Carmike stockholders approval for the Carmike transaction; the possibility that these acquisitions do not close, including in circumstances in which AMC would be obligated to pay a termination fee or other damages or expenses; related to financing these transactions, including AMC’s ability to finance the transactions on acceptable terms and to issue equity at favorable prices; responses of activist stockholders to the transactions; AMC’s ability to realize expected benefits and synergies from the acquisitions; AMC’s effective implementation, and customer acceptance, of its marketing strategies; disruption from the proposed transactions making it more difficult to maintain relationships with customers, employees or suppliers; the diversion of management time on transaction-related issues; the negative effects of this announcement or the consummation of the proposed acquisitions on the market price of AMC’s common stock; unexpected costs, charges or expenses relating to the acquisitions; unknown liabilities; litigation and/or regulatory actions related to the proposed transactions; AMC’s significant indebtedness, including the indebtedness incurred to acquire the targets; AMC’s ability to utilize net operating loss carry-forwards to reduce future tax liability; continued effectiveness of AMC’s strategic initiatives; the impact of governmental regulation, including anti-trust investigations concerning potentially anticompetitive conduct, including film clearances and participation in certain joint ventures; operating a business in markets AMC is unfamiliar with; the United Kingdom’s exit from the European Union and other business effects, including the effects of industry, market, economic, political or regulatory conditions, future exchange or interest rates, changes in tax laws, regulations, rates and policies; and risks, trends, uncertainties and other facts discussed in the reports AMC has filed with the SEC. Should one or more of these risks, trends, uncertainties or facts materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by the forward-looking statements contained herein. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. For a detailed discussion of risks, trends and uncertainties facing AMC, see the section entitled “Risk Factors” in AMC’s Annual Report on Form 10-K, filed with the SEC on March 8, 2016, and the risks, trends and uncertainties identified in their other

4 of 5 12/27/2016 8:38 AM AMC Theatres Makes Best and Final Offer to Acquire Carmike Cinemas... http://www.businesswire.com/news/home/20160725005554/en/ public filings. AMC does not intend, and undertakes no duty, to update any information contained herein to reflect future events or circumstances, except as required by applicable law.

Contacts AMC Entertainment Holdings, Inc. INVESTOR RELATIONS: John Merriwether, (866) 248-3872 [email protected] or MEDIA CONTACTS: Ryan Noonan, (913) 213-2183 [email protected]

5 of 5 12/27/2016 8:38 AM Amended Merger Agreement to Acquire Carmike Cinemas, Inc.

July 25, 2016 Disclaimer

This presentation includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “forecast,” “plan,” “estimate,” “will,” “would,” “project,” “maintain,” “intend,” “expect,” “anticipate,” “strategy,” “future,” “likely,” “may,” “should,” “believe,” “continue,” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Similarly, statements made herein and elsewhere regarding the pending acquisitions of Odeon & UCI and Carmike Cinemas (collectively “the targets”) are also forward-looking statements, including statements regarding the anticipated closing date of the acquisitions, the source and structure of financing, management’s statements about effect of the acquisitions on AMC’s future business, operations and financial performance and AMC’s ability to successfully integrate the targets into its operations. These forward-looking statements are based on information available at the time the statements are made and/or managements’ good faith belief as of that time with respect to future events, and are subject to risks, trends, uncertainties and other facts that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. These risks, trends, uncertainties and facts include, but are not limited to, risks related to: the parties’ ability to satisfy closing conditions in the anticipated time frame or at all; obtaining regulatory approval, including the risk that any approval may be on terms, or subject to conditions, that are not anticipated; obtaining the Carmike stockholders approval for the Carmike transaction; the possibility that these acquisitions do not close, including in circumstances in which AMC would be obligated to pay a termination fee or other damages or expenses; related to financing these transactions, including AMC’s ability to finance the transactions on acceptable terms and to issue equity at favorable prices; responses of activist stockholders to the transactions; AMC’s ability to realize expected benefits and synergies from the acquisitions; AMC’s effective implementation, and customer acceptance, of its marketing strategies; disruption from the proposed transactions- making it more difficult to maintain relationships with customers, employees or suppliers; the diversion of management time on transaction-related issues; the negative effects of this announcement or the consummation of the proposed acquisitions- on the market price of AMC’s common stock; unexpected costs, charges or expenses relating to the acquisitions; unknown liabilities; litigation and/or regulatory actions related to the proposed transactions; AMC’s significant indebtedness, including the indebtedness incurred to acquire the targets; AMC’s ability to utilize net operating loss carry-forwards to reduce future tax liability; continued effectiveness of AMC’s strategic initiatives; the impact of governmental regulation, including anti-trust investigations concerning potentially anticompetitive conduct, including film clearances and participation in certain joint ventures; operating a business in markets AMC is unfamiliar with; the United Kingdom’s exit from the European Union; and other business effects, including the effects of industry, market, economic, political or regulatory conditions, future exchange or interest rates, changes in tax laws, regulations, rates and policies; and risks, trends, uncertainties and other facts discussed in the reports AMC has filed with the SEC. Should one or more of these risks, trends, uncertainties or facts materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by the forward-looking statements contained herein. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. For a detailed discussion of risks, trends and uncertainties facing AMC, see the section entitled “Risk Factors” in AMC’s Annual Report on Form 10-K, filed with the SEC on March 8, 2016, and the risks, trends and uncertainties identified in their other public filings. AMC does not intend, and undertakes no duty, to update any information contained herein to reflect future events or circumstances, except as required by applicable law.

2 Legends

Important Additional Information Regarding the Merger This presentation may be deemed to be solicitation material in respect of the proposed merger of Carmike with and into a wholly-owned subsidiary of AMC. In connection with the proposed merger, AMC and Carmike will file with the Securities and Exchange Commission (“SEC”) a Registration Statement on Form S-4 (the “Registration Statement”) containing a prospectus with respect to the AMC common stock to be issued in the proposed merger and a proxy statement of Carmike in connection with the proposed merger (the “Proxy Statement/Prospectus”). The proxy statement of Carmike contained in the Proxy Statement/Prospectus will replace the definitive proxy statement which Carmike previously filed with the SEC on May 23, 2016 and mailed to its stockholders on or about May 25, 2016. Each of AMC and Carmike intends to file other documents with the SEC regarding the proposed merger. The definitive Proxy Statement/Prospectus will be mailed to stockholders of Carmike and will contain important information about the proposed merger and related matters.

Participants in the Solicitation This communication does not constitute a solicitation of a proxy from any stockholder with respect to the proposed merger. However, each of AMC, Carmike and their respective directors and executive officers, may be deemed to be participants in the solicitation of proxies from Carmike’s stockholders with respect to the proposed merger. More detailed information regarding the identity of these potential participants, and any direct or indirect interests they may have in the proposed merger, by security holdings or otherwise, will be set forth in the Proxy Statement/Prospectus, which will replace the definitive proxy statement which Carmike previously filed with the SEC on May 23, 2016 and mailed to its stockholders on or about May 25, 2016. Additional information concerning AMC’s directors and executive officers is set forth in the definitive proxy statement filed by AMC with the SEC on March 15, 2016 and in the Annual Report on Form 10-K filed by AMC with the SEC on March 8, 2016. These documents are available to Carmike stockholders free of charge from the SEC’s website at www.sec.gov and from the investor relations section of AMC’s website at amctheatres.com. Additional information concerning Carmike’s directors and executive officers and their ownership of Carmike common stock is set forth in the proxy statement for Carmike’s most recent annual meeting of stockholders, which was filed with the SEC on April 15, 2016 and in the Annual Report on Form 10-K filed by Carmike with the SEC on February 29, 2016. These documents are available to Carmike stockholders free of charge from the SEC’s website at www.sec.gov and from Carmike’s website at http://www.carmikeinvestors.com/.

3 Situation Update

 AMC has raised its offer price to $33.06 per Carmike share  Shareholders can elect to receive $33.06 in cash or 1.0819 AMC shares per Carmike share  Subject to proration such that the aggregate consideration is 70% in cash and 30% in AMC stock  32% premium to Carmike’s unaffected share price(1)  9.2x Enterprise Value / LTM Adj. EBITDA purchase multiple(2) which is a premium to AMC’s multiple  Revised offer is responsive to feedback from Carmike shareholders and the proxy advisory firms (ISS and Glass Lewis)  Increased offer value by $3.06 per share or 10.2%  Carmike shareholders receive approximately 7.4% (3) of the largest theatre company in the world which allows: . Participation in future upside associated with rollout of AMC’s strategic growth initiatives . Receipt of AMC’s quarterly dividend which is expected to be maintained  New valuation represents a premium to the US public comps and precedent Carmike transactions  AMC and Carmike have signed an amended merger agreement on the revised offer terms  Carmike Board has recommended the offer  The rationale to acquire Carmike continues to be valid and the updated structure remains attractive to AMC shareholders  Creates a larger system of theatres nationwide  Provides an opportunity to roll-out AMC’s guest-friendly movie going initiatives across a broader network of theaters  Expects cost efficiencies and synergies  Issuance of equity reduces financial leverage and financing costs  The revised offer represents AMC’s “best and final” offer for Carmike

Note: Because the exchange ratio is fixed and the market value of AMC stock will fluctuate, the actual value of the merger consideration will fluctuate. (1) As of March 3, 2016. (2) As of March 31, 2016. Net of stock based compensation (“SBC”) and M&A expenses. 4 (3) Assumes AMC / Odeon transaction closes based on current FX and AMC stock price. Transaction Highlights

Expands Creates Platform For Significant Cost Complementary the #1 Growth Savings Footprints US Exhibitor Initiatives

Combination of AMC and Carmike results in over 600 US theatres in 45 states and the  District of Columbia

Increases platform for AMC’s strategic growth initiatives, which benefits the combined  company  Expect significant annual cost synergies of approximately $35 million Circuits with limited geographic overlap and complementary genre box office  performance

AMC receives founder shares in National CineMedia, LLC to become largest founding  shareholder subject to taxes and make-whole payments(1)

5 (1) Founder shares received are subject to federal, state and other taxes. Additionally, AMC is required to provide make-whole payment to NCMI for the remaining life of the Carmike Screenvision contract. Transaction Overview • Offer price of $33.06 per Carmike share  32% premium to Carmike’s unaffected share price(1)  Shareholders can elect to receive $33.06 in cash or 1.0819 AMC shares per Carmike share  Subject to proration such that the aggregate consideration is 70% in cash and 30%

Key in AMC stock Transaction  Total Enterprise Value of $1.2 billion Terms  Enterprise Value / LTM Adj. EBITDA purchase multiple of 9.2x(2) • Expect annual cost synergies of approximately $35 million  Synergy adjusted Enterprise Value / LTM Adj. EBITDA purchase multiple of 6.8x(3) • AMC will assume and / or refinance Carmike’s debt and capital leases • AMC and Carmike have signed an amended merger agreement, which has been approved by the AMC and Carmike boards

Combined • Maintain two brands, one focused on large, urban areas and one focused on midsize Operating non-urban areas Strategy • Eliminate redundant overhead costs

• Shareholder vote required only for Carmike Closing • Subject to regulatory approvals and other customary closing conditions Conditions & • Debt financing commitment is in place for both Carmike and Odeon Timing • Expected to close by the end of 2016

Note: Because the exchange ratio is fixed and the market value of AMC stock will fluctuate, the actual value of the merger consideration will fluctuate. (1) As of March 3, 2016. (2) As of March 31, 2016. Net of stock based compensation (“SBC”) and M&A expenses. 6 (3) As of March 31, 2016. Value Creation Thesis Still Intact for AMC Odeon Transaction Created Largest Circuit in World (Screen Count)  Increases opportunity for 10,570 deployment of strategic growth

initiatives 7,329

5,840 Expect annual cost synergies 5,380  4,548 of approximately $35 million 2,954 2,565 2,236 2,011 1,753 1,666  Expects to maintain quarterly dividend AMC Pro+ Odeon + Cinemark Cinepolis Cinemex Cineworld Cineplex FormaCarmike

Receive founder shares in Carmike Would Make AMC Largest in US  National CineMedia, LLC to (Screen Count) 8,334 become largest founding 7,329 5,380 shareholder subject to taxes 4,551 (1) and make-whole payments 2,954

AMC +Pro Carmike Regal AMC Cinemark Carmike Forma (US)

Source: Public filings. 7 (1) Founder shares received are subject to federal, state and other taxes. Additionally, AMC is required to provide make-whole payment to NCMI for the remaining life of the Carmike Screenvision contract. Transaction is Attractive to Carmike Shareholders

 Equity participation in world’s leading theatrical exhibition company

 Revised offer represents a substantial premium to:

 Carmike’s unaffected stock price(1) and various historical VWAPs

 US public comps and precedent Carmike transactions

 Carmike shareholders will benefit from AMC’s expertise

 Believe combined prospect better for Carmike shareholders than standalone

Note: Because the exchange ratio is fixed and the market value of AMC stock will fluctuate, the actual value of the merger consideration will fluctuate. 8 (1) As of March 3, 2016. Assembling the World’s Leading Theatrical Exhibition Company Post Transaction + + = 360 203 (1) Attendance 92 (in millions) 65

AMC Odeon Carmike PF AMC

903 Theatres(2) 385 242 276

AMC Odeon Carmike PF AMC

10,570 Screens(2) 5,380 2,236 2,954

AMC Odeon Carmike PF AMC Attendance / Screen (000s)(3) 39.3 41.0 22.3 34.8

Revenue(1) $5,042 ($ in million) $3,060 $1,156 $826

AMC Odeon Carmike PF AMC

Revenue / Screen (000s)(3) $591 $517 $283 $488

Source: Public filings. (1) LTM as of March 31, 2016. 9 (2) As of March 31, 2016. (3) Based on average screens for period March 31, 2015 – March 31, 2016. Revised Offer Represents a Substantial Premium

Period Price(1) % Premium

Spot Prior to Deal Announcement (03/03/2016) $25.11 31.7%

1-Week VWAP (02/26/2016) 24.08 37.3

4-Week VWAP (02/05/2016) 21.58 53.2

3-Month VWAP 21.96 50.6

6-Month VWAP 22.42 47.5

Note: Market data as of March 3, 2016. 10 Because the exchange ratio is fixed and the market value of AMC stock will fluctuate, the actual value of the merger consideration will fluctuate. (1) VWAP defined as volume weighted average price. Revised Offer Represents a Premium Valuation • US public comps and Carmike precedent transactions represent the most relevant valuation benchmark • International public comps and precedents are not comparable given different operating environments, accounting standards and corporate tax laws Significant Premium to US Comparables… …And to Precedent Carmike Transactions (Enterprise Value / LTM Adj. EBITDA(1)) (Transaction Value / LTM Adj. EBITDA Post-Synergies)

9.2x 8.9x 8.7x 8.5x

6.8x 6.7x 6.5x 5.9x (2) 5.1x

Carmike / Carmike / Carmike / CKEC AMC RGC CNK Transaction AMC / Carmike Carmike Carmike Carmike / / Carmike Digiplex Sundance Muvico Rave

Date 7/25/2016 5/15/2014 10/6/2015 11/4/2013 10/1/2012 Announced

Source: Company filings, press releases and Carmike management. Note: Because the exchange ratio is fixed and the market value of AMC stock will fluctuate, the actual value of the merger consideration will fluctuate. (1) As of 3/31/2016. Net of stock based compensation (“SBC”) and M&A expenses. Excludes NCMI cash distribution which are included in AMC, Regal and Cinemark’s reported Adj. EBITDA 11 (2) Carmike acquired 16 out of 21 theatres. Carmike Shareholders Will Benefit From AMC’s Expertise

Revenue / Average Screen (LTM March 2016, ‘000s)

$591 $485 $440

$283 Theatre EBITDA(2) / Average Screen (LTM March 2016, in ‘000s) $112 $102

$82 AMC Cinemark (US) Regal Carmike (US) $48 Attendance / Average Screen 39.3 40.4 29.9 22.3 (LTM March 2016,‘000s)

Per Patron Metrics (LTM March 2016, in $) ATP CPP & Other(1) AMC Cinemark (US) Regal Carmike

$15.04 $14.69 39 40 $12.01 $12.67 $5.43 $5.12 $4.46 $4.98 30

$9.62 $9.57 22 $7.56 $7.69

AMC Cinemark (US) Regal Carmike (US) 12 Source: Company filings. (1) AMC, Regal and Cinemark (US) include concessions and other non-concession revenues based on respective public filing disclosures to be comparable to Carmike’s disclosure. AMC Cinemark (US) Regal Carmike Combined Prospect Better for Carmike Shareholders than Standalone

Carmike Management Projections Have Been Revised Carmike Has Consistently Traded at a Down Over Time Discount to Peers 2017E Revenue ($ in millions) ($201)  Carmike has traded at an average $1,222 (16%) ($347) $1,021 (28%) discount of 1.3x to the peer median $875 over the last 10 years, and 1.0x to AMC since IPO

 We believe Carmike’s valuation discount to peers is due to: February 2015 Projections March 2016 Projections March 2016 Projections (With Acquisitions) (With Acquisitions) (Without Acquisitions) − Lack of scale

(1) 2017E EBITDA − Slowing M&A pipeline for growth ($ in millions) ($24) (12%) ($46) − Earnings shortfalls (relative to $196 (23%) $172 Street expectations) $150 − Weaker operational and productivity metrics

− No annual dividend

February 2015 Projections March 2016 Projections March 2016 Projections (With Acquisitions) (With Acquisitions) (Without Acquisitions)

13 Source: Carmike SEC proxy filing. (1) EBITDA is defined as earnings before interest, taxes, depreciation and amortization. Other Factors Influencing AMC’s Valuation

 The public discussion to date has erroneously neglected to factor in that the Carmike transaction’s value to AMC is materially reduced by the value leakage from: Significant Integration & − Regulatory driven theatre and other potential divestitures Transaction − Tax implications regarding the receipt of NCMI founders shares Costs − Required quarterly make-whole payments to be made to NCMI − Significant company integration and transaction costs

Additional  The deployment of growth initiatives is to be funded by AMC’s capital and is at its Investment own risk Required

 Carmike’s Screenvision investment is a minority stake in a privately held company, valued at $7 million as of March 31, 2016 Screenvision  AMC is currently a 18%(1) owner of NCMI, a publicly traded competitor to Screenvision

 Usage of Carmike’s NOLs is limited based on prior Carmike acquisitions, which diminishes the value of the NOLs to AMC significantly NOLs  Carmike transaction generates no material value from accelerating AMC’s own NOL utilization

14 Source: Company filings. (1) Including 200,000 shares of NCM, Inc. Transaction Financing Overview

 Fully committed debt financing

 TLB commitment of $225 million (under existing accordion capacity)

 $300 million subordinated bridge loan commitment

 $230 million of Carmike senior secured notes stay in place (received change of control waiver)

 Expected to close by the end of 2016

 Pro forma for both the Odeon and Carmike transactions AMC's net leverage is expected to be 4.25x - 4.50x at closing

 The company anticipates exploring various alternatives, including the issuance of equity, to reduce net leverage to approximately 4.0x

15 Key Takeaways  AMC’s “best and final” offer represents a highly attractive premium for  Carmike shareholders with further upside from equity participation

 Revised offer is responsive to feedback from Carmike shareholders and  the proxy advisory firms (ISS and Glass Lewis)  Transaction remains an attractive opportunity for AMC’s shareholders  Improves AMC’s position to the #1 US theatre operator  Enhanced opportunities for AMC’s strategic growth initiatives  Expect approximately $35 million annual run-rate synergies  Minimal overlap between AMC’s large urban areas and Carmike’s midsize  non-urban areas

 Receive additional founder shares in National CineMedia, LLC to become  largest founding shareholder subject to taxes and make-whole payments(1)  Expects to maintain quarterly dividend Note: Because the exchange ratio is fixed and the market value of AMC stock will fluctuate, the actual value of the merger consideration will fluctuate. 16 (1) Founder shares received are subject to federal, state and other taxes. Additionally, AMC is required to provide “make-whole” payment to NCMI for the remaining life of the Carmike Screenvision contract.

FOR IMMEDIATE RELEASE

CARMIKE CINEMAS ANNOUNCES AMENDED AND RESTATED MERGER AGREEMENT WITH AMC THEATRES

AMC to Acquire Carmike for Combination of Cash and Stock in Approximately $1.2 Billion Transaction

Represents Premium of Approximately 32% Over Carmike’s Stock Price on March 3, 2016 and an Increase of 10.2% Over AMC’s Original Cash Offer of $30 Per Share

Columbus, Georgia – July 25, 2016 – Carmike Cinemas, Inc. (NASDAQ: CKEC) (“Carmike”) announced today that it has entered into an amended and restated merger agreement with AMC Theatres (AMC Entertainment Holdings, Inc.) (NYSE: AMC) (“AMC”) pursuant to which AMC will acquire all outstanding shares of Carmike in cash and stock.

Under the terms of the transaction, for each outstanding share of Carmike common stock, Carmike’s stockholders will have the option to elect to receive either $33.06 in cash or 1.0819 shares of AMC’s Class A common stock. Such elections are subject to proration such that in the aggregate 30% of Carmike’s outstanding shares are exchanged for shares of AMC’s Class A common stock, and 70% of Carmike’s outstanding shares are exchanged for cash.

Based on the closing trading price of AMC’s common stock on the New York Stock Exchange on July 22, 2016, the transaction is valued at approximately $1.2 billion, including the assumption of Carmike net indebtedness. The $1.2 billion transaction value consists of approximately $585 million paid in cash and $250 million in AMC’s Class A common stock to be paid to Carmike stockholders, and AMC’s assumption of Carmike’s net debt. The total consideration to be received by Carmike stockholders under the amended and restated merger agreement represents a premium of approximately 32% over Carmike’s stock price on March 3, 2016, the last date prior to the announcement of the transaction between AMC and Carmike, and an increase of 10.2% over AMC’s original cash offer of $30 per share.

The amended and restated merger agreement has been unanimously approved by the Carmike Board of Directors, and Carmike’s Board recommends that all Carmike stockholders vote “FOR” the amended and restated merger agreement with AMC.

David Passman, Carmike President and Chief Executive Officer, said, “We are pleased to have reached this amended merger agreement with AMC, which follows extensive negotiations with AMC. The revised merger agreement provides significant additional value to Carmike stockholders and enables our stockholders to now participate in the potential upside of a combined AMC-Carmike while continuing to receive significant, premium value for their investment in Carmike. Our Board unanimously believes that this transaction is compelling and in the best interest of all Carmike stockholders.”

Approvals and Timing

The transaction is expected to be completed by the end of 2016, subject to customary closing conditions, including regulatory approval and approval by Carmike’s stockholders.

Carmike intends to adjourn the Special Meeting of Stockholders scheduled to reconvene on July 25, 2016 at 9:00 a.m. local time, at the offices of King & Spalding LLP located at 1180 Peachtree Street, N.E., Atlanta, Georgia 30309.

Carmike will disseminate a revised proxy statement/prospectus to Carmike stockholders in connection with the amended and restated merger agreement, which will provide details on when the Special Meeting of Stockholders will be reconvened. Carmike’s Board of Directors has not yet determined whether a revised record date will be set for the reconvened Special Meeting of Stockholders. However, in light of the revised transaction structure and anticipated timeline, Carmike's Board of Directors likely will set a new record date for the reconvened Special Meeting of Stockholders.

Additional Details

AMC’s revised offer has fully committed financing in place and will be funded through a combination of existing liquidity, including cash on hand, incremental debt, and equity issuance. The debt financing commitment is being provided by Citigroup Global Markets Inc. (“Citi”).

J.P. Morgan Securities LLC is serving as exclusive financial advisor and provided a fairness opinion to Carmike. King & Spalding LLP is acting as legal counsel to Carmike.

Disclosure Regarding Forward-Looking Statements This press release contains forward-looking statements within the meaning of the federal securities laws. Statements that are not historical facts, including statements about Carmike’s beliefs, expectations and future performance, are forward-looking statements. Forward-looking statements include statements preceded by, followed by or that include the words, “believes,” “expects,” “anticipates,” “plans,” “estimates,” “seeks” or similar expressions. Forward-looking statements are only predictions and are not guarantees of performance. These statements are based on beliefs and assumptions of Carmike’s management, which in turn are based on currently available information. The forward-looking statements also involve risks and uncertainties, which could cause actual results to differ materially from those contained in any forward-looking statement. Many of these factors are beyond Carmike’s ability to control or predict. Important factors that could cause actual results to differ materially from those contained in any forward-looking statement include, but are not limited to: the occurrence of any event, change or other circumstances that could give rise to the termination of the amended and restated merger agreement; the inability to complete the proposed merger due to the failure to obtain Carmike stockholder or regulatory approval for the proposed merger or the failure to satisfy other conditions of the proposed merger within the proposed timeframe or at all; disruption in key business activities or any impact on Carmike’s relationships with third parties as a result of the announcement of the proposed merger; the failure to obtain the necessary financing arrangements as set forth in the debt commitment letters delivered pursuant to the amended and restated merger agreement, or the failure of the proposed merger to close for any other reason; risks related to disruption of management’s attention from Carmike’s ongoing business operations due to the proposed merger; the outcome of any legal proceedings, regulatory proceedings or enforcement matters that may be instituted against Carmike and others relating to the amended and restated merger agreement; the risk that the pendency of the proposed merger disrupts current plans and operations and the potential difficulties in employee retention as a result of the pendency of the proposed merger; the amount of the costs, fees, expenses and charges related to the proposed merger; adverse regulatory decisions; unanticipated changes in the markets for Carmike’s business segments; general economic conditions in Carmike’s regional and national markets; Carmike’s ability to comply with covenants contained in the agreements governing Carmike’s indebtedness; Carmike’s ability to operate at expected levels of cash flow; financial market conditions including, but not limited to, changes in interest rates and the availability and cost of capital; Carmike’s ability to meet its contractual obligations, including all outstanding financing commitments; the availability of suitable motion pictures for exhibition in Carmike’s markets; competition in Carmike’s markets; competition with other forms of entertainment; the effect of Carmike’s leverage on its financial condition; prices and availability of operating supplies; the impact of continued cost control procedures on operating results; the impact of asset impairments; the impact of terrorist acts; changes in tax laws, regulations and rates; and financial, legal, tax, regulatory, legislative or accounting changes or actions that may affect the overall performance of Carmike’s business.

Consider these factors carefully in evaluating the forward-looking statements. Additional factors that may cause results to differ materially from those described in the forward-looking statements are set forth in Carmike’s Annual Report on Form 10-K for the fiscal year ended December 31, 2015, which was filed with the U.S. Securities and Exchange Commission (the “SEC”) on February 29, 2016, under the heading “Item 1A. Risk Factors,” and in Carmike’s subsequently filed reports with the SEC, including Forms 10-Q and 8-K. Readers are cautioned not to place undue reliance on the forward-looking statements included in this press release, which speak only as of the date hereof. Carmike does not undertake to update any of these statements in light of new information or future events, except as required by applicable law. Important Additional Information Regarding the Merger This press release may be deemed to be solicitation material in respect of the proposed merger of Carmike with and into a wholly-owned subsidiary of AMC. In connection with the proposed merger, AMC and Carmike will file with the SEC a Registration Statement on Form S-4 (the “Registration Statement”) containing a prospectus with respect to the AMC common stock to be issued in the proposed merger and a proxy statement of Carmike in connection with the proposed merger (the “Proxy Statement/Prospectus”). The proxy statement of Carmike contained in the Proxy Statement/Prospectus will replace the definitive proxy statement which Carmike previously filed with the SEC on May 23, 2016 and mailed to its stockholders on or about May 25, 2016. Each of AMC and Carmike intends to file other documents with the SEC regarding the proposed merger. The definitive Proxy Statement/Prospectus will be mailed to stockholders of Carmike and will contain important information about the proposed merger and related matters.

Participation in the Solicitation This communication does not constitute a solicitation of a proxy from any stockholder with respect to the proposed merger. However, each of AMC, Carmike and their respective directors and executive officers, may be deemed to be participants in the solicitation of proxies from Carmike’s stockholders with respect to the proposed merger. More detailed information regarding the identity of these potential participants, and any direct or indirect interests they may have in the proposed merger, by security holdings or otherwise, will be set forth in the Proxy Statement/Prospectus, which will replace the definitive proxy statement which Carmike previously filed with the SEC on May 23, 2016 and mailed to its stockholders on or about May 25, 2016. Additional information concerning AMC’s directors and executive officers is set forth in the definitive proxy statement filed by AMC with the SEC on March 15, 2016 and in the Annual Report on Form 10-K filed by AMC with the SEC on March 8, 2016. These documents are available to Carmike stockholders free of charge from the SEC’s website at www.sec.gov and from the investor relations section of AMC’s website at amctheatres.com. Additional information concerning Carmike’s directors and executive officers and their ownership of Carmike common stock is set forth in the proxy statement for Carmike’s most recent annual meeting of stockholders, which was filed with the SEC on April 15, 2016 and in the Annual Report on Form 10 K filed by Carmike with the SEC on February 29, 2016. These documents are available to Carmike stockholders free of charge from the SEC’s website at www.sec.gov and from Carmike’s website at http://www.carmikeinvestors.com/.

Carmike Contacts

Investor Relations: Richard B. Hare, 706-576-3416 Chief Financial Officer or Innisfree M&A Arthur Crozier or Larry Miller 212-750-5833 [email protected]

Media Contacts: Joele Frank, Wilkinson Brimmer Katcher Barrett Golden or Mahmoud Siddig 212-355-4449

CARMIKE STOCKHOLDERS APPROVE MERGER AGREEMENT WITH AMC

COLUMBUS, Georgia, November 15, 2016 -- Carmike Cinemas, Inc. (NASDAQ: CKEC) (“Carmike”) announced that, at Carmike’s Special Meeting of Stockholders held today, Carmike stockholders approved the amended and restated merger agreement with AMC Theatres (AMC Entertainment Holdings, Inc.) (NYSE: AMC) (“AMC”).

David Passman, Carmike Cinemas’ President and Chief Executive Officer, stated, “We are pleased with the outcome of today’s vote. In addition to providing Carmike stockholders with significant value and the opportunity to participate in the upside potential of a combined AMC-Carmike, this transaction creates an opportunity to deliver an even more compelling movie-going experience to more guests in many more locations across the country.”

More than 86% of the shares voted at the meeting were voted in favor of the merger, representing approximately 72% of Carmike’s outstanding shares as of the record date for the meeting.

The transaction remains subject to customary closing conditions, including regulatory approval, and is expected to be completed by the end of 2016 or in early 2017.

As previously announced, under the terms of the AMC merger agreement, Carmike stockholders will have the opportunity to elect to receive cash in the amount of $33.06 per share (the “cash consideration”) or 1.0819 shares of AMC Class A common stock (the “stock consideration”) for each share of Carmike common stock owned by them. This election is subject to the previously disclosed proration provisions in the AMC merger agreement, such that 70% of the total issued and outstanding shares of Carmike common stock will be converted into the right to receive the cash consideration and 30% will be converted into the right to receive the stock consideration. AMC and Carmike have previously mailed to holders of Carmike common stock and Carmike equity awards an election form and letter of transmittal to be used by such holders to make such elections. AMC and Carmike will publicly announce the deadlines to make such elections and any extensions thereof in a press release, on their websites and in a filing with the U.S. Securities and Exchange Commission (the “SEC”).

state-of-the-art technology and luxurious seating, including 33 "BigDs," 21 IMAX auditoriums and two MuviXL screens. As "America's Hometown Theatre Chain" Carmike's primary focus is mid-sized communities. Visit www.carmike.com for more information.

Disclosure Regarding Forward-Looking Statements This press release contains forward-looking statements within the meaning of the federal securities laws. Statements that are not historical facts, including statements about Carmike’s beliefs, expectations and future performance, are forward-looking statements. Forward-looking statements include statements preceded by, followed by or that include the words, “believes,” “expects,” “anticipates,” “plans,” “estimates,” “seeks” or similar expressions. Forward-looking statements are only predictions and are not guarantees of performance. These statements are based on beliefs and assumptions of Carmike’s management, which in turn are based on currently available information. The forward-looking statements also involve risks and uncertainties, which could cause actual results to differ materially from those contained in any forward-looking statement. Many of these factors are beyond Carmike’s ability to control or predict. Important factors that could cause actual results to differ materially from those contained in any forward-looking statement include, but are not limited to: the occurrence of any event, change or other circumstances that could give rise to the termination of the amended and restated merger agreement; the inability to complete the proposed merger due to the failure to obtain regulatory approval for the proposed merger or the failure to satisfy other conditions of the proposed merger within the proposed timeframe or at all; disruption in key business activities or any impact on Carmike’s relationships with third parties as a result of the announcement of the proposed merger; risks related to disruption of management’s attention from Carmike’s ongoing business operations due to the proposed merger; the outcome of any legal proceedings, regulatory proceedings or enforcement matters that may be instituted against Carmike and others relating to the amended and restated merger agreement; the risk that the pendency of the proposed merger disrupts current plans and operations and the potential difficulties in employee retention as a result of the pendency of the proposed merger; the amount of the costs, fees, expenses and charges related to the proposed merger; adverse regulatory decisions; unanticipated changes in the markets for Carmike’s business segments; general economic conditions in Carmike’s regional and national markets; Carmike’s ability to comply with covenants contained in the agreements governing Carmike’s indebtedness; Carmike’s ability to operate at expected levels of cash flow; financial market conditions including, but not limited to, changes in interest rates and the availability and cost of capital; Carmike’s ability to meet its contractual obligations, including all outstanding financing commitments; the availability of suitable motion pictures for exhibition in Carmike’s markets; competition in Carmike’s markets; competition with other forms of entertainment; the effect of Carmike’s leverage on its financial condition; prices and availability of operating supplies; the impact of continued cost control procedures on operating results; the impact of asset impairments; the impact of terrorist acts; changes in tax laws, regulations and rates; and financial, legal, tax, regulatory, legislative or accounting changes or actions that may affect the overall performance of Carmike’s business.

Carmike Contacts Investor Relations: Richard B. Hare, 706-576-3416 Chief Financial Officer or Innisfree M&A Arthur Crozier or Larry Miller 212-750-5833 [email protected]

Media Contacts: Joele Frank, Wilkinson Brimmer Katcher Barrett Golden or Mahmoud Siddig 212-355-4449

AMC Required to Divest Movie Theatres, Reduce NCM Ownership and... https://www.justice.gov/opa/pr/amc-required-divest-movie-theatres-redu...

JUSTICE NEWS

Department of Justice

Office of Public Affairs

FOR IMMEDIATE RELEASE Tuesday, December 20, 2016

AMC Required to Divest Movie Theatres, Reduce NCM Ownership and Complete Screen Transfers in Order to Complete Acquisition of Carmike Cinemas

Proposed Settlement Preserves Movie Theatre Competition in 15 Local Markets and in Preshow Services and Theatre Advertising Markets

The Department of Justice announced today that it will require AMC Entertainment Holdings Inc. to divest theatres in 15 local markets, sell off most of its holdings and relinquish all of its governance rights in National Cinemedia LLC (NCM), and transfer 24 theatres with a total of 384 screens to the network of Screenvision LLC in order to complete its $1.2 billion acquisition of Carmike Cinemas Inc.

The Justice Department’s Antitrust Division filed a civil antitrust lawsuit today in the U.S. District Court for the District of Columbia to block the proposed acquisition. At the same time, the department filed a proposed settlement that, if approved by the court, would resolve the competitive harm alleged in the lawsuit. The department said that without the required divestitures and other relief, the merger would result in higher prices and lower quality theatre amenities for moviegoers and weakened competition in the markets for preshow services and theatre advertising, where Screenvision is NCM’s only meaningful rival.

“Moviegoers across the United States have benefitted from head-to-head competition between AMC and Carmike that has kept ticket prices in check and delivered a higher quality movie experience,” said Acting Assistant Attorney General Renata Hesse of the Department of Justice’s Antitrust Division. “Today’s settlement will ensure that movie theatre competition is preserved in 15 local markets where AMC and Carmike currently compete. In addition, by requiring AMC to reduce its equity stake in NCM, terminate its participation in NCM’s business, and transfer screens to Screenvision, the settlement will promote continued vigorous competition between the two leading cinema advertising networks – competition that the division fought to protect when it blocked the NCM-Screenvision merger.”

According to the department’s complaint, AMC and Carmike compete to attract moviegoers in local markets across the United States by providing affordable ticket prices and a superior viewing experience. Because AMC and Carmike are each other’s most significant competitor in 15 local markets across the country, the complaint alleges that the proposed acquisition would likely reduce price competition and the quality of the moviegoer’s experience in each of these local markets. Under the terms of the proposed settlement, AMC must divest AMC or Carmike movie theatres in all 15 local markets to buyers approved by the United States to eliminate the merger’s likely harm in these markets.

The department’s complaint further alleges that AMC’s acquisition of Carmike would lessen competition in the preshow services and cinema advertising markets, where NCM and Screenvision together serve over 80 percent of U.S. movie screens and compete to win exclusive contracts to provide preshow services to exhibitors. According to the department’s complaint, as a major owner of both NCM and Screenvision post-merger, AMC would have an

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incentive to reduce the head-to-head competition between NCM and Screenvision, resulting in less aggressive competition to gain exhibitors and advertisers at the expense of the other. In addition, the merger would eliminate Carmike – currently Screenvision’s largest and most important exhibitor – as a source of future Screenvision growth because all future AMC new builds and theatre acquisitions will affiliate with NCM under the terms of AMC’s NCM contract.

Under the terms of the proposed settlement, AMC must divest the majority of its equity interest in NCM such that it owns no more than 4.99 percent of the company, relinquish all of its NCM governance rights, and transfer 24 theatres comprising 384 screens to the Screenvision network. The department said that these measures will ensure that movie exhibitors and advertisers continue to enjoy the benefits of vigorous competition between NCM and Screenvision in the preshow services and theatre advertising markets. The Division filed suit to block the proposed merger of NCM and Screenvision in 2014 and NCM and Screenvision subsequently abandoned their transaction.

The proposed settlement also requires AMC to establish firewalls to ensure that it does not obtain NCM’s, Screenvision’s, or other movie exhibitors’ competitively sensitive information or become a conduit for the flow of such information between NCM and Screenvision.

AMC is a Delaware corporation with its headquarters in Leawood, Kansas. As of Sept. 30, 2016, AMC operated approximately 388 theatres with a total of 5,295 screens located in 33 states and the District of Columbia. Its U.S. box office revenues were approximately $1.9 billion in 2015.

Carmike is a Delaware corporation with its headquarters in Columbus, Georgia. As of Sept. 30, 2016, Carmike operated 271 movie theaters with a total of 2,917 screens located in 41 states. Its U.S. box office revenues were approximately $490 million in 2015.

As required by the Tunney Act, the proposed settlement and the department’s competitive impact statement will be published in the Federal Register. Any person may submit written comments concerning the proposed settlement during a 60-day comment period to Owen M. Kendler, Acting Chief, Litigation III Section, Antitrust Division, U.S. Department of Justice, 450 5th Street, N.W., Suite 4000, Washington, D.C. 20530. At the conclusion of the 60-day comment period, the U.S. District Court for the District of Columbia may enter the proposed consent decree upon finding that it serves the public interest.

AMC-Carmike Complaint

AMC-Carmike CIS

AMC-Carmike Explanation

AMC-Carmike Hold Separate Stipulation and Order

AMC-Carmike PFJ

16-1507 Antitrust Division Topic: Updated December 20, 2016 Antitrust

2 of 2 12/27/2016 10:05 AM AMC Entertainment Holdings, Inc. to Host Conference Call to Discuss t... http://www.businesswire.com/news/home/20161220005750/en/

AMC Entertainment Holdings, Inc. to Host Conference Call to Discuss the Department of Justice Approval of the Carmike Cinemas, Inc. Acquisition

December 20, 2016 11:26 AM Eastern Standard Time

LEAWOOD, Kan.--(BUSINESS WIRE)--AMC Entertainment Holdings, Inc. (NYSE: AMC) (“AMC”) announced that it will host a conference call today to discuss the Department of Justice (“DOJ”) approval of the Carmike Cinemas, Inc. (NASDAQ: CKEC) (“Carmike”) acquisition. The DOJ approval was the final regulatory hurdle AMC needed to clear in order to complete the transaction to acquire Carmike. AMC expects to complete the transaction expeditiously.

AMC’s management team will host a conference call to discuss the DOJ approval at 12:15 PM CT/1:15 PM ET later today. Investors and interested parties who would like to listen to the conference call should dial +1-877-407-3982 (in the U.S.) and +1-201-493-6780 (outside the U.S.). The number should be dialed at least 10 minutes prior to the start of the conference call.

The conference call will also be accessible as an audio webcast on the internet. To listen to the conference call via the internet, please visit the investor relations section of the AMC website at www.investor.amctheatres.com for a link to the webcast. Investors and interested parties should go to the website at least 15 minutes prior to the call to register, and/or download and install any necessary audio software.

About AMC Theatres

Not yet factoring in the Carmike acquisition, AMC is the largest movie exhibition company in the world and the guest experience leader with approximately 636 theatres and 7,623 screens worldwide, including the largest cinema operator in Europe, ODEON Cinemas Group. AMC has propelled innovation in the theatrical exhibition industry and continues today by delivering more comfort and convenience, enhanced food and beverages, greater engagement and loyalty, premium large format experiences, and targeted programming. AMC operates the most productive theatres in the United States’ top markets, having the #1 or #2 market share positions in 21 of the 25 largest metropolitan areas in the United States, including the top three markets (NY, LA, Chicago). Through its Odeon subsidiary, AMC is the largest theatre operator in Europe, with movie theatres in seven European countries including being the #1 theatrical exhibitor in the UK & Ireland, Italy and Spain. For more information, please visit www.amctheatres.com.

Website Information

1 of 3 12/27/2016 8:43 AM AMC Entertainment Holdings, Inc. to Host Conference Call to Discuss t... http://www.businesswire.com/news/home/20161220005750/en/ information about AMC. The information contained on, or that may be accessed through, our website is not incorporated by reference into, and is not a part of, this document. Investors interested in automatically receiving news and information when posted to our website can also visit www.investor.amctheatres.com to sign up for email Alerts.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “forecast,” “plan,” “estimate,” “will,” “would,” “project,” “maintain,” “intend,” “expect,” “anticipate,” “strategy,” “future,” “likely,” “may,” “should,” “believe,” “continue,” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Similarly, statements made herein and elsewhere regarding the pending acquisition of Carmike Cinemas, Inc. (“Carmike”) and the completed acquisition of Odeon and UCI Cinemas Holdings Limited (“Odeon,” and collectively, the “acquisitions”) are also forward-looking statements, including statements regarding the anticipated closing date of the Carmike acquisition, the source and structure of financing, management's statements about effect of the acquisitions on AMC’s future business, operations and financial performance and AMC’s ability to successfully integrate the acquisitions into its operations. These forward-looking statements are based on information available at the time the statements are made and/or managements’ good faith belief as of that time with respect to future events, and are subject to risks, trends, uncertainties and other facts that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. These risks, trends, uncertainties and facts include, but are not limited to, risks related to: the parties’ ability to satisfy closing conditions in the anticipated time frame or at all; any impact of the DOJ approval of the Carmike transaction; the possibility that the Carmike acquisition does not close, including in circumstances in which AMC would be obligated to pay Carmike a termination fee or other damages or expenses; related to financing the acquisitions, including AMC’s ability to finance the acquisitions on acceptable terms; responses of activist stockholders to the Carmike acquisition; AMC’s ability to realize expected benefits and synergies from the acquisitions; AMC’s effective implementation, and customer acceptance, of its two brand strategy; disruption from the acquisitions making it more difficult to maintain relationships with customers, employees or suppliers; the diversion of management time on transaction-related issues; the negative effects of this announcement or the consummation of the proposed Carmike acquisition on the market price of AMC’s common stock; unexpected costs, charges or expenses relating to the acquisitions; unknown liabilities; litigation and/or regulatory actions related to the acquisitions; AMC’s significant indebtedness, including the indebtedness incurred to acquire Odeon and Carmike; AMC’s ability to utilize net operating loss carry-forwards to reduce future tax liability; continued effectiveness of AMC’s strategic initiatives; the impact of governmental regulation, including anti-trust investigations concerning potentially anticompetitive conduct, including film clearances and participation in certain joint ventures; operating a business in markets AMC has limited experience with; the United Kingdom’s exit from the European Union and other business effects, including the effects of industry, market, economic, political or regulatory conditions, future exchange or interest rates, changes in tax laws, regulations, rates and policies; and risks, trends, uncertainties and other facts discussed in the reports AMC and Carmike have filed with the SEC. Should one or more of these risks, trends, uncertainties or facts materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by the forward-looking statements contained herein. Accordingly, you are cautioned not to place undue reliance on these forward- looking statements, which speak only as of the date they are made. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. For a detailed discussion of risks, trends and uncertainties facing AMC, see the section entitled “Risk Factors” in AMC’s Annual Report on Form 10-K, filed with the SEC on March 8, 2016, and Forms 10-Q filed August 1, 2016 and November 9, 2016, and the risks identified in the Form 8-K filed October 24, 2016, and the risks, trends and uncertainties identified in its other public filings. AMC does not intend, and undertakes no duty, to update any information contained herein to reflect future events or circumstances, except as required by applicable law.

Contacts INVESTOR RELATIONS: AMC Entertainment Holdings, Inc. John Merriwether, 866-248-3872 [email protected] or MEDIA CONTACT: 2 of 3 12/27/2016 8:43 AM AMC Entertainment Holdings, Inc. to Host Conference Call to Discuss t... http://www.businesswire.com/news/home/20161220005750/en/ AMC Entertainment Holdings, Inc. Ryan Noonan, 913-213-2183 [email protected]

3 of 3 12/27/2016 8:43 AM AMC Entertainment Holdings, Inc. Completes Acquisition of Carmike C... http://www.businesswire.com/news/home/20161221005418/en/

AMC Entertainment Holdings, Inc. Completes Acquisition of Carmike Cinemas, Inc., Becomes Largest U.S. Movie Exhibitor

AMC Now the Largest Exhibitor in the U.S., Europe, and the World

December 21, 2016 09:04 AM Eastern Standard Time

LEAWOOD, Kan.--(BUSINESS WIRE)--AMC Theatres (AMC Entertainment Holdings, Inc.) (NYSE: AMC) (“AMC”) announced today it has completed its acquisition of Carmike Cinemas, Inc. (NASDAQ: CKEC) (“Carmike”) for approximately $1.1 billion, including the assumption of Carmike indebtedness.

AMC is now the largest theatre exhibitor in the United States, Europe and the world, operating some 900 theatres with more than 10,000 screens globally, including 661 theatres with more than 8,200 screens in the United States and 244 theatres with 2,200 screens in Europe.

“AMC now has a larger audience and a bigger stage to introduce our industry-leading innovations including plush power- recliner seats, enhanced food and beverage choices and premium large format screens,” said AMC CEO and President Adam Aron. “We also have expanded AMC’s footprint across greater geography and more diverse demographics, serving most of the largest cities in the U.S. and Europe, along with hundreds of home towns, where guests can have an amazing AMC experience. In the United States, AMC now will enjoy increased benefit from movies that play better on Main Street and movies that play better in major metros, and, of course, from movies that play well in both.”

“We are fortunate to be adding so many talented and hard-working associates to the AMC team, which speaks well for the leadership of Carmike over the past several years,” said Aron. “Today we take a moment to celebrate becoming the biggest exhibitor in the U.S., in Europe and throughout the world, and then we roll up our sleeves and get to work to ensure that we are not only the biggest exhibitor but also the best in each of our markets.”

Key benefits of the AMC-Carmike combination

Diversifies AMC’s footprint by adding theatres with complementary geographic and guest demographic profiles that strengthen the combined company’s admissions growth potential with limited geographic overlap; Creates an opportunity to expand AMC’s proven and successful guest experience strategies to millions of new guests in complementary markets; and, Creates purchasing efficiencies and reduces general and administrative expenses by combining back-of-the-house functions such as accounting, finance and technology,

1 of 3 12/27/2016 8:46 AM AMC Entertainment Holdings, Inc. Completes Acquisition of Carmike C... http://www.businesswire.com/news/home/20161221005418/en/ producing estimated cost synergies of approximately $35 million annually.

Company leadership

AMC will continue to be headquartered in Leawood, Kansas. Adam Aron will serve as Chief Executive Officer and President, and Craig Ramsey will serve as Executive Vice President and Chief Financial Officer.

Transaction details

AMC completed the acquisition of Carmike by merging a wholly-owned subsidiary of AMC with and into Carmike. As a result, Carmike is now a wholly-owned subsidiary of AMC. Carmike stockholders could elect to receive either $33.06 in cash or 1.0819 AMC shares for each Carmike share they owned, subject to an overall allocation with 70% of Carmike shares exchanged for cash and 30% exchanged for AMC shares.

Holders of 23,006,194 Carmike shares and equity awards (91.1%) elected to receive AMC shares, holders of 1,230,343 Carmike shares and equity awards (4.9%) elected to receive the cash consideration, and holders of 996,848 Carmike shares and equity awards (4.0%) made no election. Pursuant to the proration mechanisms in the merger agreement, Carmike stockholders and equity award holders that made a stock election will receive AMC shares for approximately 32.9% of their Carmike shares or equity awards (plus cash for fractional shares based on a price of $32.0668 per AMC share) and will receive cash for the remaining 67.1% of their Carmike shares or equity awards. Carmike stockholders and equity award holders who made a cash election or no election will receive $33.06 per share in cash. As a result of this transaction, 8,189,808 shares of AMC Class A common stock will be issued.

Trading in Carmike Common Stock on NASDAQ was suspended prior to the open of trading today.

AMC expects to maintain its current quarterly dividend.

Financing

The transaction was funded through a combination of existing liquidity, including cash on hand, incremental debt and the equity consideration.

Customer information

Carmike theatre customers may obtain more information via this FAQ.

About AMC Theatres

AMC is the largest movie exhibition company in the U.S., Europe and the world with approximately 900 theatres and more than 10,000 screens across the globe. AMC has propelled innovation in the exhibition industry by deploying more plush power-recliner seats, delivering enhanced food and beverage choices, generating greater guest engagement through its loyalty program, web site and smart phone apps, offering premium large format experiences and playing a wide variety of content including independent programming. AMC operates among the most productive theatres in the United States’ top markets, having the #1 or #2 market share positions in 22 of the 25 largest metropolitan areas of the United States, including the top three markets (NY, LA, Chicago). Through its Odeon subsidiary, AMC operates in seven European countries and is the # 1 theatre chain in the UK & Ireland, Italy and Spain.

Website Information

2 of 3 12/27/2016 8:46 AM AMC Entertainment Holdings, Inc. Completes Acquisition of Carmike C... http://www.businesswire.com/news/home/20161221005418/en/ Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “forecast,” “plan,” “estimate,” “will,” “would,” “project,” “maintain,” “intend,” “expect,” “anticipate,” “prospect,” “strategy,” “future,” “likely,” “may,” “should,” “believe,” “continue,” “opportunity,” “potential,” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Similarly, statements made herein and elsewhere regarding the completed acquisitions of Odeon & UCI Cinemas Holdings, Ltd. (“ODEON”) and of Carmike (collectively, the “acquisitions”) are also forward-looking statements, including management’s statements about effect of the acquisitions on AMC’s future business, operations and financial performance and AMC’s ability to successfully integrate the acquisitions into its operations. These forward-looking statements are based on information available at the time the statements are made and/or management’s good faith belief as of that time with respect to future events, and are subject to risks, trends, uncertainties and other facts that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. These risks, trends, uncertainties and facts include, but are not limited to, risks related to: the impact of the terms of the regulatory approval of the Carmike acquisition, financing the acquisitions; AMC’s ability to realize expected benefits and synergies from the acquisitions; AMC’s effective implementation, and customer acceptance, of its marketing strategies; disruption from the acquisitions making it more difficult to maintain relationships with customers, employees or suppliers; the diversion of management time on transaction-related issues; the negative effects of this announcement or the consummation of the acquisitions on the market price of AMC’s common stock; unexpected costs, charges or expenses relating to the acquisitions; unknown liabilities; litigation and/or regulatory actions related to the acquisitions; AMC’s significant indebtedness, including the indebtedness incurred to acquire ODEON and Carmike; AMC’s ability to utilize net operating loss carry-forwards to reduce future tax liability; continued effectiveness of AMC’s strategic initiatives; the impact of governmental regulation, including anti-trust investigations concerning potentially anticompetitive conduct, including film clearances and participation in certain joint ventures; operating a business in markets AMC has limited experience with; the United Kingdom’s exit from the European Union and other business effects, including the effects of industry, market, economic, political or regulatory conditions, future exchange or interest rates, changes in tax laws, regulations, rates and policies; and risks, trends, uncertainties and other facts discussed in the reports AMC has filed with the SEC. Should one or more of these risks, trends, uncertainties or facts materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by the forward-looking statements contained herein. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. For a detailed discussion of risks, trends and uncertainties facing AMC, see the section entitled “Risk Factors” in AMC’s Annual Report on Form 10-K, filed with the SEC on March 8, 2016, and Forms 10-Q filed August 1, 2016 and November 9, 2016, and the risks identified in the Form 8-K filed October 24, 2016, and the risks, trends and uncertainties identified in its other public filings. AMC does not intend, and undertakes no duty, to update any information contained herein to reflect future events or circumstances, except as required by applicable law.

Contacts AMC Entertainment Holdings, Inc. Investor Relations: John Merriwether, 866-248-3872 [email protected] or Media Contact: Ryan Noonan, 913-213-2183 [email protected]

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