Lenders Presentation 19 July 2016

First Vue branded site in the Netherlands opened in Alkmaar in February 2016 R: 0 Important Information G: 32 B: 96

R: 0 G: 112 IMPORTANT: You must read the following before continuing B: 192 PRESENTATION OF FINANCIAL DATA This presentation should be read in conjunction with the Vougeot Bidco plc (“Bidco”) Quarterly Report (the “Report”) to Noteholders for the period ended 26 May 2016 (“Q2 2016”) released on Tuesday 19th July 2016 and in particular the statements made on page 2 of the Report (which are incorporated into this presentation). This report is available on our website at R: 197 http://corporate.myvue.com/home/investor-relations G: 217 This document and the information contained herein (the “Company Presentation”) has been prepared solely for the purpose of discussions between Bidco, its advisers and certain lenders in relation to the proposed transactions referred to in this Company Presentation and should not be used by any recipient (each a “Recipient”) for any other purpose. The Company Presentation is not intended B: 241 to be (and should not be used as) the sole basis of any credit analysis or decision or other evaluation, it does not purport to be all-inclusive or to contain all of the information that a prospective participant may require and should not be considered as a recommendation by any person that any Recipient should participate in any transaction described in this Company Presentation (or any other transaction). In receiving and retaining the Company Presentation, you are deemed to have accepted and agreed to the terms hereof. R: 255 None of Bidco, or any of its respective affiliates, makes any representation or warranty that the Company Presentation is sufficient for any such credit analysis or decision. G: 192 The Company Presentation, and any proposals contained in the document, are indicative only, they are not binding, do not create any legal obligations, do not constitute or act as an inducement to enter into any contract or commitment and should not be considered as an offer, or invitation or recommendation by Bidco or its affiliates to participate in the proposals. B: 0 The information in the Company Presentation has not been independently verified, and it should not be relied upon and the information in this document addresses certain specific circumstances as at the date they were prepared. No representation or warranty (whether express or implied) is given by Bidco or any of its affiliates or its affiliates’ respective directors, officers, employees, agents, partners, representatives or professional advisers make any representation or warranty or undertaking of any kind, express or implied, nor do they accept or assume any responsibility or liability of R: 237 any kind as to the correctness or completeness of this Company Presentation in particular in respect of forward-looking statements, including the achievement or reasonableness of management estimates, opinions, targets or other future projections. Any such forward-looking statements or future projections are subject to various risks and uncertainties, many of which are difficult to predict, G: 145 that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking statements and future projections. Accordingly, there can be no assurance that any estimates, targets or projections are attainable or will be realized. In the event any of the assumptions used in this Company Presentation do not prove to be true, results B: 49 are likely to vary substantially from those discussed herein. The delivery of this Company Presentation to any person at any time after the date hereof does not imply, and is not intended to imply, that the information contained herein is correct at any time after the date of this Company Presentation or that there has been no change in the business, financial condition, prospects, credit worthiness, status or affairs of Bidco or its affiliates since the date of R: 112 this Company Presentation. G: 173 B: 71

R: 193 G: 42 B: 42

R: 217 G: 151 2 2 B: 149 R: 0 Agenda and Today’s Speakers G: 32 B: 96

R: 0 G: 112 B: 192

Section 1: JT Bioscopen Acquisition (Q3 FY2015) R: 197 G: 217 Section 2: JT Bioscopen Acquisition Refinancing (Q3 FY2016) B: 241 R: 255 Q&A G: 192 B: 0

R: 237 G: 145 B: 49

R: 112 G: 173 B: 71

R: 193 Tim Richards Alan McNair Steve Knibbs Alison Cornwell G: 42 CEO Deputy CEO COO CFO B: 42

R: 217 G: 151 3 3 B: 149 R: 0 Agenda G: 32 B: 96

R: 0 G: 112 B: 192

Section 1: JT Bioscopen Acquisition (Q3 FY2015) R: 197 G: 217 B: 241 Section 2: JT Bioscopen Acquisition Refinancing (Q3 FY2016) R: 255 Q&A G: 192 B: 0

R: 237 G: 145 B: 49

R: 112 G: 173 B: 71

R: 193 G: 42 B: 42

R: 217 G: 151 4 4 B: 149 Transaction Rationale R: 0 G: 32 Continuation of Vue’s Strategy to Expand Into Attractive European Markets B: 96

R: 0 • Expansion into an attractive and growing market Reinforce Vue Positioning in the European Market… G: 112 – The Netherlands has seen growing admissions, GBOR # of Screens (Latest Reported) B: 192 and screen / site figures over the last decade Includes 113 2,238 screens from JT – Screen penetration still remains below most Western 2,011 European markets 1,866 R: 197 G: 217 • High-quality asset with strong management in place 1,008 B: 241 – JT Bioscopen’s circuit is well-maintained and has been at 1,753 504 499 491 the forefront of technological development – Enthusiastic, smart and motivated senior team with R: 255 significant experience in the sector G: 192 • Significant value creation opportunity B: 0 – Vue will generate additional value through areas including pricing strategies, procurement, EEC and R: 237 further new site development …While Ensuring Further Geographic Diversification G: 145 – Business integration followed a process similar to the Revenue by Country (Pro-forma FY2015) B: 49 “100 day plan” which was successfully adopted for The 1% 1% Space Cinemas 5% 17% R: 112 • Strengthening of Vue’s position in the European Cinema 17% G: 173 market 9% 48% 46% B: 71 – Successful track-record of identifying and integrating 8% acquisition opportunities 25% – Transaction strengthens Vue Group’s position in Europe 23% R: 193 with presence in ten countries, 210 sites and 1,866 G: 42 screens at the end of May 2016 UK & Ireland Germany & Denmark Poland & Baltics B: 42 – Further reduces slate risk through international Italy Netherlands Taiwan diversification R: 217 G: 151 Source: Company Data 5 5 B: 149 Attractive and Growing Dutch Cinema Market R: 0 G: 32 Growing Admissions, GBOR and Screen / Site Over the Last Decade B: 96

R: 0 • Dutch admissions have shown an upwards trajectory over Admissions (m) (1) G: 112 the last 11 years, whereas other Western European +10 3.3% CAGR ’04-’15A B: 192 countries, including the UK and Germany, have remained 27.3 28.2 30.5 30.6 30.8 30.8 33.0 broadly flat with annual spikes / troughs driven by the 23.0 20.6 23.4 23.1 23.5 film slate R: 197

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 G: 217 • Screen / site numbers have also been increasing with a net B: 241 177 screens having been added, an increase of 28.4% since GBOR (m) (1) +122 2004, an average of 16 screens each year 5.4% CAGR ’04-’15A 240 245 250 250 276 R: 255 201 219 • Despite the increase, screen penetration levels remain 154 135 156 160 165 G: 192 below almost all other Western European markets at 4.8 B: 0 screens per 100k population, compared to 5.9 in the UK 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 and 5.7 in Germany, indicating potential for further roll out Screens (1) R: 237 +177 G: 145 • The average number of cinema visits per person per year 2.3% CAGR ’04-’15A has increased across the same period to 2.0 as of 2015, 756 771 800 B: 49 623 625 629 630 649 661 707 721 738 well below France (3.1) and the UK (2.7), and broadly in line with Belgium (1.9), Sweden (1.8), Germany (1.7) and R: 112 Italy (1.6) 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 G: 173 • Market ATP(3) is comparable to the UK and Germany, higher Screens per 100k Population (2) B: 71 than the majority of other markets in which Vue operates Average: 7.4 12.5 10.7 and higher than France and other Benelux markets 8.6 8.4 8.6 8.6 R: 193 7.1 5.7 6.3 6.2 5.5 6.8 5.9 4.8 4.6 G: 42

USA Denmark Germany Italy Norway Spain Switzerland B: 42 Netherlands Belgium France Ireland Luxembourg Portugal Sweden UK

Source: Dodona, IHS, Euromonitor (1) Admissions, GBOR and Screens data from Dodona to FY2013. Data for 2014 and 2015 from IHS R: 217 (2) Screens per capita data per IHS and Eurostat (2015) G: 151 (3) Average ticket price 6 6 B: 149 Strong Contribution & Diversification from Local Content R: 0 G: 32 Nearly 20% of GBOR in the Netherlands Is Generated Through Local Content B: 96

R: 0 • Netherlands, in keeping with most European territories, 2012 2013 G: 112 has developed in recent years a vibrant local film Dutch GBOR €m Admits m Dutch GBOR €m Admits m 1 Alles is Familie 5.2 0.64 1 Verliefd op Ibiza 5.8 0.71 B: 192 production industry that supplies successful commercial 2 Mees Kees 3.9 0.57 2 De Nieuwe Wildernis 5.2 0.69 local language films to the market 3 Allen Maar Nette Mensen 2.6 0.32 3 Spijt 3.1 0.42 4 De Marathon 2.3 0.29 4 Mannenharten 3.1 0.38 5 Achtse Groupers Hulien Niet 2.0 0.28 5 Soof 2.5 0.31 R: 197 • Local productions are supported by the Netherlands Film Other 21.2 2.89 Other 28.3 3.82 G: 217 Fund, which has provided over €30m per annum over Total 37.2 4.99 Total 48.0 6.32 International International B: 241 recent years, mainly to fund Dutch movie productions, as 1 Skyfall 17.1 1.98 1 The Hobbit 2 8.1 0.78 2 Intouchables (France) 9.7 1.21 2 Despicable Me 2 7.7 0.92 well as other areas including distribution. In 2014, the 3 The Hobbit 8.2 0.79 3 The Hunger Games 2 5.9 0.68 Dutch Government announced a new incentive adding an 4 Ice Age 4 7.5 0.88 4 Fast & Furious 6 5.3 0.62 R: 255 5 The Dark Knight Rises 6.9 0.76 5 The Smurfs 2 5.1 0.63 additional €20m of annual funding Other 158.8 20.04 Other 169.3 20.85 G: 192 Total 208.2 25.66 Total 201.4 24.48 B: 0 Total Dutch and International 245.4 30.65 Total Dutch and International 249.4 30.80 Dutch Proportion % 15.2% 16.3% Dutch Proportion % 19.2% 20.5% R: 237 Local Content Penetration across Europe 2014 2015 G: 145 Average 2011 to 2015 Dutch GBOR €m Admits m Dutch GBOR €m Admits m 1 Gooische Vrouwen 2 10.1 1.18 1 Gooische Vrouwen 2 6.8 0.81 B: 49 2 Toscaanse Bruiloft 4.5 0.56 2 Michiel de Ruyter 5.9 0.69 42% 3 Soof 3.8 0.47 3 Ja, Ik wil 3.1 0.37 4 Pak van mijn Hart 3.4 0.42 4 Bon Bini Holland 2.6 0.31 5 Hartenstraat 3.2 0.40 5 Bloed, Zweet en Tranen 2.3 0.28 R: 112 Average: 23% 28% Other 24.1 3.38 Other 13.8 1.9 G: 173 Total 49.0 6.41 Total 23% 22% 22% 34.5 4.31 International International B: 71 19% 15% 19% 1 The Hobbit 3 8.5 0.83 1 Spectre 19.1 2.04 2 Wolf of Wall Street 5.9 0.67 2 Minions 12.9 1.58 3 The Hunger Games 3 5.7 0.67 3 Jurassic World 9.9 1.00 4 Rio 2 4.7 0.58 4 Fast & Furious 7 9.1 0.86 R: 193 5 How to Train Your Dragon 2 4.3 0.53 5 Star Wars: The Force Awakens 8.4 0.96 G: 42 Other 171.6 21.06 Other 178.0 21.06 Netherlands France Italy Sweden Total 200.8 24.35 Total 237.5 27.98 B: 42 Belgium Germany Spain Poland Total Dutch and International 249.8 30.76 Total Dutch and International 271.9 32.30 Dutch Proportion % 19.6% 20.8% Dutch Proportion % 12.7% 13.4% R: 217 G: 151 Source: Screen Digest, NVB / NVF 7 7 B: 149 R: 0 JT Bioscopen – Market Overview G: 32 B: 96

R: 0

JT Bioscopen Is the #2 Player in the Netherlands - 2015 JT Bioscopen Locations G: 112 B: 192

Number of Cinemas 22 21 13 R: 197 Number of Screens 174 113 78 G: 217 Number of Seats 36,093 21,054 15,073 B: 241 Avg. Screens / Site 7.9 5.4 6.0 Avg. Seats / Screen 207 186 193 R: 255 Market share (GBOR) 41.1% 12.4% 8.2% G: 192 Market share Rank #1 #2 #3 B: 0

• Concentrated market with top 3 players with a combined market R: 237 share of c. 62% of GBOR: G: 145 – Pathe (4th largest operator in Europe) is the #1 operator with a 41% GBOR market share. Primarily focused on main B: 49 metropolitan hubs (Amsterdam and Rotterdam) R: 112 – JT Bioscopen (now Vue Netherlands) is the #2 operator with G: 173 21 sites, 1 fewer than Pathe. However, JT Bioscopen’s GBOR B: 71 market share at 12.4% is lower driven by a fewer number of screens per site, lower number of seats per screen and due to Pathe having more IMAX (5) and 3D screens driving higher R: 193 admissions prices G: 42 B: 42 – Kinepolis (Belgium's largest operator) is the #3 operator with 13 sites and 8.2% GBOR market share. Kinepolis Netherlands circuit is an amalgamation of Wolff Cinemas and Utopolis R: 217 cinemas G: 151 8 8 B: 149 R: 0 JT Bioscopen – New Site Development & Re-Branding G: 32 B: 96

JT Bioscopen Development JT Bioscopen is being re-branded Vue R: 0 G: 112 • JT Bioscopen is the #2 cinema operator in the Netherlands with 21 B: 192 sites, 113 screens and 12.4% GBOR market share • JT Bioscopen has grown quickly opening 46 screens in the last five R: 197 years, equal to 36% of total screens opened, solidifying its position as the second largest player in the market G: 217 B: 241 • JT Bioscopen is looking to build on successful recent new site openings such as Hilversum, Hoorn, Eindhoven and Alkmaar while developing further new opportunities R: 255 • New site development strategies include: G: 192 – Replacement of existing older sites with new multiplexes, as B: 0 was the case in Alkmaar Vue Kerkrade Vue Hilversum – New sites where there are primary growth opportunities R: 237 – Vue would like to have new sites in high population density G: 145 areas where there is still an under supply of new, modern multiplexes. This could include Amsterdam and Rotterdam B: 49 where JT have been under represented to date • New site opening in Alkmaar in February 2016 – replacement of R: 112 an old 5 screen cinema with a new 7 screen stadium seated G: 173 multiplex on outskirts of town centre B: 71 – First cinema branded Vue in the Netherlands as part of brand change – Introduction of Vue’s highly successful VIP seat along with the Vue Hoorn Vue Alkmaar – just before opening R: 193 newly introduced Recliner seats in February G: 42 – New retail concepts with more products available and with • The roll out will be complete by October 2016 B: 42 self-serve options • Rebrand includes new signage (internal & external), re-decoration, – Cinema admissions have grown over 100% compared to prior new carpets where required, digital point of sale and new uniforms year with the old cinema R: 217 G: 151 9 9 B: 149 R: 0 JT Bioscopen Progress Post Acquisition G: 32 B: 96

R: 0 • Vue Brand – decision taken to re-brand the JT Bioscopen brand to Vue. ‘JT Bioscopen’ was not a well established cinema name in G: 112 the Dutch market as the circuit was an amalgamation of different circuits over the past few years B: 192

• VIP Seating – is being rolled out to all Vue Netherlands sites. Project will be complete by September 2016 R: 197 G: 217 • Additional Screens – Vue has identified opportunities at 10 sites to add c.14 screens with no increases in property costs B: 241

R: 255 • Lease Re-gears – we are negotiating with the leading landlord in the market to re-gear several sites with new leases and capital investment support to improve business performance G: 192 B: 0

• Procurement – Vue Group Procurement Executive working with local management to realise savings in procurement of items R: 237 such as beer, soft drinks and tea. Further savings will be realised as other contracts expire G: 145 B: 49 • Pricing – we are introducing successful Vue pricing strategies such as regional pricing, Kids shows, Blockbuster and Life Cycle pricing and seat layout optimisation R: 112 G: 173 • Head Office – in June 2016 the local team relocated from temporary space inside the cinema at Amersfoort (45 minutes from B: 71 Amsterdam) to central Amsterdam allowing easier access to film distributors and suppliers and better working conditions R: 193 • Operational Efficiencies – Vue is working with local management on staffing and energy usage efficiencies with the same G: 42 operational Best Practice model applied successfully in other territories B: 42

R: 217 G: 151 10 10 B: 149 R: 0 JT Bioscopen: Performance Over Time G: 32 B: 96

R: 0 FY2014 – H1 FY2016: Income Statement and KPIs G: 112 €m, FYE Nov FY2014 FY2015 H1 FY2015 H1 FY2016 B: 192 Admissions ('000s) 3,075 3,920 2,181 1,992 Number of Sites 21 21 21 21 R: 197 Number of Screens 105 111 111 113

KPIs ATP (€) 7.93 8.43 8.31 8.69 G: 217 SPP (£) 3.72 3.87 3.79 4.02 B: 241 Total Revenue Per Person (£) 12.38 13.16 12.91 13.60 Revenue 38.1 51.6 28.2 27.1 R: 255 Gross Profit 23.5 32.2 17.6 16.8 G: 192 Gross Profit % 61.7% 62.4% 62.7% 62.0%

Operating Expenses (Excl. Rent) (10.3) (12.3) (6.6) (6.3) B: 0

EBITDAR 13.2 19.8 11.0 10.5 P&L EBITDAR % 34.8% 38.5% 39.2% 38.9% R: 237 Rent (7.0) (8.5) (4.2) (4.4) G: 145 Company EBITDA 6.3 11.3 6.8 6.1 B: 49 Company EBITDA % 16.5% 21.9% 24.1% 22.6%

R: 112 • Growth in 2015 driven by strong slate including local title Gooische Vrouwen 2 which was released in Q1 2015 G: 173 and generated €16m market GBOR to be #4 title of all time in the Netherlands and Spectre which was released B: 71 in Q4 2015 and became #1 title of all time in the Netherlands R: 193 • During the period above the old five screen Meppel site closed in Q1 2015 and several new sites were opened G: 42 including; Hoorn in Q3 FY14, Hilversum in Q4 2014, Eindhoven in Q1 2015 and the new Alkmaar site replaced B: 42 the old Alkmaar site in Q1 2016 R: 217 G: 151 Source: Company Information 11 11 B: 149 R: 0 Agenda G: 32 B: 96

R: 0 G: 112 B: 192

Section 1: JT Bioscopen Acquisition (Q3 FY2015) R: 197 G: 217 B: 241 Section 2: JT Bioscopen Acquisition Refinancing (Q3 FY2016) R: 255 Q&A G: 192 B: 0

R: 237 G: 145 B: 49

R: 112 G: 173 B: 71

R: 193 G: 42 B: 42

R: 217 G: 151 12 12 B: 149 R: 0 Transaction Overview G: 32 B: 96

R: 0 The purpose of the current transaction is to raise a €120m Cov-Lite Term Loan B to fund the consideration for the G: 112 acquisition of JTB into the Restricted Group and raise a strategic reserve B: 192

R: 197 • The New €120m Cov-Lite Term Loan B will rank pari passu with existing senior secured notes and be borrowed G: 217 within the restricted group B: 241 – The new term loan will have a 7-year maturity R: 255 – The loan documentation will be based on the existing super senior RCF documentation G: 192 – Covenants and baskets will mirror the existing bonds B: 0

• Excess proceeds above the JTB acquisition consideration provide a strategic reserve for liquidity, general R: 237 G: 145 corporate purposes and small in-territory bolt-on opportunities B: 49

• Adjusted for the JT Bioscopen acquisition, LTM to May 2016 EBITDA increases from £130.2m to £138.0m and Pro R: 112 forma net leverage increases from 4.2x to 4.4x G: 173 B: 71

• Simultaneous with the proposed transaction we have also agreed an increase in the committed size of the R: 193 existing super senior RCF from £50 MM to £60 MM whilst also allowing our existing €15 MM local Italian facilities G: 42 to expire B: 42

R: 217 • Vue's existing corporate ratings are B2/ B which have remained unchanged since its acquisition in 2013 G: 151 13 13 B: 149 R: 0 Sources & Uses and Capitalisation Table G: 32 B: 96

R: 0 G: 112 Sources and Uses (1) B: 192

Sources €m £m Uses €m £m R: 197 New Cov-Lite Term Loan B 120.0 91.3 Refinance JTB Bridge 91.0 69.2 G: 217 JTB/Midco Cash on Balance Sheet (2) 7.1 5.4 Illustrative fees & expenses 3.0 2.3 B: 241 Cash on Balance Sheet 33.1 25.2 Total Sources 127.1 96.7 Total Uses 127.1 96.7 R: 255 G: 192 Vue Current and Pro Forma Capital Structure B: 0 Q2 2016 Vue Standalone ( 3 ) Adj. Pro Forma for JTB Consolidation x LTM x LTM YE Nov £m EBITDA £m £m EBITDA Rating Margin Maturity R: 237 Unrestricted Cash (49.9) (0.4x) (25.2) (75.1) (0.5x) - - - G: 145 Super Senior RCF Drawing (£60m) ------Jul-19 B: 49 Vue Senior Secured Notes (£300m) 294.6 2.3x - 294.6 2.1x B2 / B 7.875% Jul-20 Vue Senior Secured Notes (€360m) 265.1 2.0x - 265.1 1.9x B2 / B E+525 Jul-20 R: 112 Cov-Lite Term Loan B - - 91.3 91.3 0.7x - E+550 7 year G: 173 Unamortised Financing Fees (0.7) (0.0x) (2.3) (3.0) (0.0x) B: 71 Other Debt 36.4 0.3x 1.5 37.9 0.3x - - - Total Gross Debt 595.4 4.6x 685.9 5.0x R: 193 Total Net Debt 545.5 4.2x 610.8 4.4x G: 42 LTM EBITDA 130.2 7.9 138.0 B: 42

(1) EUR/GBP of 1.3148 as at end of Q2 2016 R: 217 (2) Cash on balance sheet as of May G: 151 (3) Q2 2016 as of May 14 14 B: 149 R: 0 Simplified Transaction Structure G: 32 B: 96

R: 0 Vougeot Holdco Limited G: 112 Vougeot Finco Limited B: 192

Vougeot Midco Limited Restricted Group R: 197 G: 217 Vougeot Bidco Plc £60m Super Senior Revolving Credit Facility B: 241 Vue Entertainment International Limited £300m Senior Secured Notes Vue Holdings (Jersey) Limited R: 255 G: 192 Vue Holdings (UK) Limited €360m Senior Secured Notes B: 0 Proceeds Loan Vue Entertainment Investment Limited New €120m Cov-Lite Term R: 237 Loan B Vue Entertainment Holdings Limited G: 145

Steps: B: 49 Vue Entertainment Holdings (UK) Limited 1. Tulip UK Newco is incorporated (or acquired off- Vue Entertainment Limited the-shelf) by Vue Entertainment Limited and R: 112 becomes a member of the Restricted Group Tulip UK Newco 2. Vougeot Bidco PLC borrows TLB €120m G: 173 3. Vougeot Bidco PLC lends the proceeds of TLB to Other Subsidiaries in an amount equivalent to the acquisition price B: 71 Vue Nederland B.V. to Tulip UK Newco 4. Tulip UK Newco uses the proceeds to acquire the shares in (and loan receivables against) Vue R: 193 Jogchem’s Theater B.V. Nederland B.V. from Vougeot Midco Limited 5. Vougeot Midco Limited applies the proceeds G: 42 received from Tulip UK Newco towards Dutch Subsidiaries repayment of the existing JT debt B: 42 6. Transaction costs paid by Vougeot Bidco Plc R: 217 Facilities secured and guaranteed on a pari passu basis G: 151 15 15 B: 149 R: 0 Summary of Key Terms G: 32 B: 96

R: 0 Borrower • Vougeot Bidco Plc G: 112 B: 192 Guarantors • As per existing notes

Maturity Type and Amount Amount Interest Initial Margin OID Floor Repayment Ranking (Years) R: 197 G: 217 1st Lien Sr Term Loan B €120m 7.0 Floating E+550 99.5 0.00% Bullet Secured B: 241

Purpose • Refinance existing debt at JTB, pay transaction expenses, general corporate purposes R: 255 Existing Corporate Rating • B2 / B G: 192 Ranking • Pari passu with existing notes B: 0

Security • As per existing notes R: 237 Voluntary Prepayments • As per RCF G: 145 Mandatory Prepayments • As per existing notes (no excess cash flow sweep) B: 49 Covenants • As per existing notes R: 112 Optional Redemption • Soft call @ 101 for 6 months G: 173 Majority Lenders • 50.1% B: 71 Governing Law • English law provided New York law for covenants and event of default (where these follow existing notes)

Joint Bookrunners • Morgan Stanley (Co-ordinator), Lloyds Bank PLC R: 193 G: 42 Admin Agent • Lloyds Bank PLC B: 42 Security Agent • Lloyds Bank PLC

Intercreditor Principles • As per existing notes R: 217 G: 151 16 16 B: 149 R: 0 Q&A G: 32 B: 96

R: 0 G: 112 B: 192

R: 197 G: 217 B: 241

R: 255 Further questions can be addressed to G: 192 B: 0 [email protected] R: 237 [email protected] G: 145 B: 49

R: 112 G: 173 B: 71

R: 193 G: 42 B: 42

R: 217 G: 151 17 17 B: 149 R: 0 G: 32 B: 96

R: 0 G: 112 B: 192

R: 197 G: 217 B: 241

R: 255 G: 192 B: 0

Appendices R: 237 G: 145 B: 49

R: 112 G: 173 B: 71

R: 193 G: 42 B: 42

R: 217 G: 151 18 18 B: 149 R: 0 Vue Financial Information – Performance Over Time (Excluding JT Bioscopen) G: 32 B: 96

R: 0 FY2014 – H1 FY2016: Summary Financials G: 112 UK GAAP IFRS B: 192 £m, FYE Nov FY2014 FY2015 FY2015 H1 FY2015 H1 FY2016 Admissions (m) 76.2 81.2 81.2 43.2 42.2 R: 197 Number of Sites 187 189 189 188 189 G: 217 Number of Screens 1,737 1,753 1,753 1,748 1,753

KPIs ATP (£) 5.70 5.65 5.65 5.60 5.97 B: 241 SPP (£) 1.88 1.88 1.88 1.85 1.96 Total Revenue Per Person (£) 8.66 8.60 8.60 8.47 9.05 R: 255 Group Revenue 660.3 697.9 697.9 365.7 381.8 G: 192 Gross Profit 413.0 431.8 431.8 227.1 236.7 B: 0 Gross Profit % 62.5% 61.9% 61.9% 62.1% 62.0% Operating Expenses (Excl. Rent) (194.6) (191.7) (191.7) (95.6) (100.8) R: 237 EBITDAR 218.3 240.1 240.1 131.5 135.9 P&L G: 145 EBITDAR % 33.1% 34.4% 34.4% 36.0% 35.6% B: 49 Rent (126.4) (122.3) (114.2) (57.9) (58.1) Company EBITDA 91.9 117.8 126.0 73.6 77.8 Company EBITDA % 13.9% 16.9% 18.1% 20.1% 20.4% R: 112 Capex (26.1) (19.5) (19.5) (10.0) (12.8) G: 173 Operating Cash Flow 47.8 84.6 84.6 42.0 30.9 B: 71 External Net Debt 564.8 497.4 528.9 555.2 545.5

Cash Cash Flow Gross Leverage (x) 6.8x 4.6x 4.6x 5.3x 4.6x R: 193 Net Leverage (x) 6.1x 4.2x 4.2x 5.1x 4.2x G: 42 EUR/GBP 1.24 1.38 1.38 1.40 1.30 B: 42

R: 217 G: 151 19 19 B: 149 Vue Financial Information – Capital Structure and Leverage Development R: 0 (Excluding JT Bioscopen) G: 32 B: 96

UK GAAP IFRS IFRS R: 0 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 £m, FYE Nov FY2014 FY2015 FY2015 FY2015 FY2015 FY2015 FY2015 FY2015 FY2015 FY2016 FY2016 G: 112 Sterling fixed rate notes (net of unamortised 300.0 300.0 300.0 300.0 300.0 293.3 293.5 293.8 294.0 294.3 294.6 B: 192 financing costs under IFRS) Euro floating rate notes (net of unamortised 285.1 262.8 256.4 263.0 252.9 251.7 246.0 253.4 244.2 275.2 265.1 financing costs under IFRS) R: 197 Revolving Credit Facility 18.1 - 0.3 5.3 - - 0.3 5.3 - - - G: 217 Finance Leases and other loans 36.4 4.9 4.5 3.9 3.4 41.2 39.5 38.7 36.0 39.1 36.4 B: 241 Unamortised financing fees (17.6) (16.8) (16.0) (15.3) (14.5) (1.0) (0.9) (0.9) (0.8) (0.8) (0.7) Total external debt net of fees (£m) 622.1 550.9 545.2 556.9 541.8 585.2 578.4 590.4 573.4 607.8 595.4 R: 255 Cash 61.3 41.1 26.9 25.5 49.9 41.1 26.9 25.5 49.9 78.0 55.8 G: 192 Restricted cash (4.1) (3.8) (3.7) (4.7) (5.5) (3.8) (3.7) (4.7) (5.5) (6.1) (5.9) B: 0 Unrestricted cash and cash equivalents (£m) 57.3 37.4 23.2 20.8 44.4 37.4 23.2 20.8 44.4 71.8 49.9 Total external net debt (£m) 564.8 513.5 522.0 536.1 497.4 547.8 555.2 569.6 528.9 536.0 545.5 R: 237 Gross leverage (x) 6.8x 5.9x 5.4x 5.3x 4.6x 5.7x 5.3x 5.3x 4.6x 4.5x 4.6x G: 145 Net leverage (x) 6.1x 5.5x 5.2x 5.1x 4.2x 5.4x 5.1x 5.1x 4.2x 4.0x 4.2x B: 49 LTM Pro Forma Consolidated EBITDA (£m) 91.9 93.7 100.5 104.1 117.8 102.1 108.7 112.3 126.0 134.6 130.2 R: 112 G: 173 • Significant increase in LTM EBITDA from £91.9m at the end of FY2014 to £117.8m at the end of FY2015 (both B: 71 on a like for like UK GAAP basis) R: 193 • Further increase in LTM EBITDA under IFRS from £126.0m at the end of FY2015 to £130.2m at Q2 FY2016 G: 42 • Reduction in Net Leverage to 4.2x at the end of Q2 FY2016 from the peak of 6.1x at the end of FY2014 B: 42 • Impact of conversion from UK GAAP to IFRS leverage neutral (EBITDA higher due to lower rent costs, debt R: 217 higher due to certain leases being accounted for as finance leases rather than operating leases) G: 151 20 20 B: 149 R: 0 Vue At A Glance As At 26 May 2016 G: 32 B: 96

R: 0 G: 112 B: 192

R: 197 G: 217 B: 241 Vimercate Udine Cerro Odeon Treviso Vicenza Rumia Torino Trieste Inverness Aarhus Słupsk Verona Gdynia Rozzano Padova Sopot Elbląg Montabello Aberdeen Denmark Koszalin Gdańsk Beinasco R: 255 Odense Copenhagen Hoogezand Szczecìn Olsztyn Genova Steenwijk Glasgow Kiel Bydgoszcz Parma Campus Bologna Edinburgh Parma Heerhugowaard Hoogeveen G: 192 Hoorn Hamburg Alkmaar Oldenburg Wloclawek Warsaw Livorno Novoli Amsterdam Purmerend Bremen Berlin Poznań Perugia Wolfsburg Grosseto Hilversum Deventer B: 0 BielefeldHannover Magdeburg Poland Terni Apeldoorn Montesilvano Alphen aan den Rijn Lódź Amersfoort Arnhem Mulheim Essen Gottingen Halle Zgorzelec Radom Guidonia Vlaardingen Gorinchem Doetinchem Krefeld Dresden Lublin Moderno Nijmegen Dublin Germany Wrocław Wuppertal Offenbach Magliana Bari Den Bosch Manchester Trier Wurzburg Kielce Zabrze Napoli Surbo Heilbronn Nola Eindhoven R: 237 Katowice Cagliari Sestu Stuttgart Regensburg Rzeszów Salerno Birmingham Tychy Kraków Cagliari Sindelfingen Augsburg Rybnik Czechowice G: 145 Cardiff Freiburg Kerkrade Munich Lamezia London Catanzaro B: 49

Catania R: 112 G: 173 As at 26 May Germany & Poland & B: 71 2016 UK & Ireland Denmark Baltics (1) Italy Taiwan Netherlands Group Sites 84 33 35 36 1 21 210 R: 193 Multiplex % (2) 98.8% 97.0% 94.3% 100.0% 100.0% 71.4% 95.2% G: 42 Screens 803 289 283 362 16 113 1,866 B: 42 % screens with 96.0% 99.7% 100.0% 99.4% 100.0% 66.4% 96.1% stadium seating R: 217 (1) Baltics consists of our operations in Latvia and Lithuania G: 151 (2) Multiplex cinema site defined as a site with five or more screens 21 21 B: 149 Financial Information – Pro-Forma Performance Over Time R: 0 (Including JT Bioscopen) G: 32 B: 96

R: 0 G: 112 FY2014 – H1 FY2016: Group Summary Financials Pro-Forma for JT B: 192

UK GAAP IFRS R: 197 £m, FYE Nov FY2014 FY2015 H1 FY2015 H1 FY2016 Admissions (m) 79.3 85.1 45.4 44.2 G: 217 Number of Sites 208 210 209 210 B: 241

Number of Screens 1,842 1,864 1,859 1,866

KPIs ATP (£) 5.73 5.67 5.63 6.00 R: 255 SPP (£) 1.92 1.93 1.89 2.01 G: 192 Total Revenue Per Person (£) 8.71 8.65 8.52 9.11 Group Revenue 691.1 735.5 386.6 402.6 B: 0 Gross Profit 432.0 455.3 240.2 249.6 Gross Profit % 62.5% 61.9% 62.1% 62.0% R: 237 Operating Expenses (Excl. Rent) (202.9) (200.7) (100.4) (105.6) G: 145

EBITDAR 229.1 254.6 139.7 144.0 P&L EBITDAR % 33.1% 34.6% 36.1% 35.8% B: 49 Rent (132.0) (120.4) (61.1) (61.5) Company EBITDA 97.1 134.2 78.7 82.5 R: 112 Company EBITDA % 14.0% 18.3% 20.3% 20.5% G: 173 B: 71

R: 193 G: 42 B: 42

R: 217 G: 151 Source: Company Information 22 22 B: 149