UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): March 6, 2020 CEDAR FAIR, L. P. (Exact name of Registrant as specified in its charter) Delaware 1-9444 34-1560655 (State or other jurisdiction (Commission (I.R.S. Employer of incorporation) File No.) Identification No.) One Cedar Point Drive, Sandusky, Ohio 44870-5259 (Address of principal executive offices) (Zip Code) (419) 626-0830 (Registrant’s telephone number, including area code) Not Applicable (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Trading Name of each exchange Title of each class Symbol(s) on which registered Depository Units (Representing Limited Partner FUN New York Stock Exchange Interests) Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ Item 7.01. Regulation FD Disclosure. On March 6, 2020, Cedar Fair, L.P. (the “Company”) posted a slide presentation on its investor relations website. The presentation may be used, in whole or in part, or with modifications, in connection with presentations to investors, analysts and others. A copy of the presentation is furnished as Exhibit 99.1 to this Current Report on Form 8-K. This information shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise be subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as expressly set forth by specific reference in such filing. Item 9.01. Financial Statements and Exhibits. (d) Exhibits: Exhibit No. Description 99.1 Investor Presentation March 2020 (furnished herewith) 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CEDAR FAIR, L.P. By Cedar Fair Management, Inc., General Partner Date: March 6, 2020 By: /s/ Brian C. Witherow Brian C. Witherow Executive Vice President and Chief Financial Officer Exhibit 99.1 Investor Presentation March 2020Exhibit 99.1 Investor Presentation March 2020 Forward-Looking Statements Some slides and comments included here, particularly related to estimates, comments on expectations about future performance or business conditions, may contain “forward-looking statements” within the meaning of the federal securities laws which involve risks and uncertainties. You can identify forward-looking statements because they contain words such as “believes,” “project,” “might,” “expects,” “may,” “will,” “should,” “seeks,” “approximately,” “intends,” “plans,” “estimates” or “anticipates” or similar expressions that concern our strategy, plans or intentions. These forward-looking statements are subject to risks and uncertainties that may change at any time, and could cause actual results to differ materially from those that we anticipate. While we believe that the expectations reflected in such forward-looking statements are reasonable, we caution that it is very difficult to predict the impact of unknown factors, and it is impossible for us to anticipate all factors that could affect our actual results. Important factors, including those listed under Item 1A in the Partnership’s Form 10-K, could adversely affect our future financial performance and cause actual results to differ materially from our expectations. 1Forward-Looking Statements Some slides and comments included here, particularly related to estimates, comments on expectations about future performance or business conditions, may contain “forward-looking statements” within the meaning of the federal securities laws which involve risks and uncertainties. You can identify forward-looking statements because they contain words such as “believes,” “project,” “might,” “expects,” “may,” “will,” “should,” “seeks,” “approximately,” “intends,” “plans,” “estimates” or “anticipates” or similar expressions that concern our strategy, plans or intentions. These forward-looking statements are subject to risks and uncertainties that may change at any time, and could cause actual results to differ materially from those that we anticipate. While we believe that the expectations reflected in such forward-looking statements are reasonable, we caution that it is very difficult topredict the impact of unknown factors, and it is impossible for us to anticipate all factors that could affect our actual results. Important factors, including those listed under Item 1A in the Partnership’s Form 10-K, could adversely affect our future financial performance and cause actual results to differ materially from our expectations. 1 Cedar Fair Executive Team Brian Witherow Duff Milkie CFO GC Tim Fisher COO Kelley Semmelroth CMO Richard Zimmerman Dave Hoffman CAO CEO Craig Heckman HRO 2Cedar Fair Executive Team Brian Witherow Duff Milkie CFO GC Tim Fisher COO Kelley Semmelroth CMO Richard Zimmerman Dave Hoffman CAO CEO Craig Heckman HRO 2 Vision: To be the preferred choice for regional entertainment. Mission: To make people happy by providing them fun, dynamic and memorable experiences they can share with their family and friends year after year. 3Vision: To be the preferred choice for regional entertainment. Mission: To make people happy by providing them fun, dynamic and memorable experiences they can share with their family and friends year after year. 3 PARKS PORTFOLIO KEY STATISTICS Own and operate 11 Entertain amusement parks 28M visitors annually 9 outdoor water parks 841 (in-park) rides and attractions 4 124 outdoor water parks roller coasters (unique gates) 2,300+ 1 hotel rooms indoor water park (hotel feature) 4PARKS PORTFOLIO KEY STATISTICS Own and operate 11 Entertain amusement parks 28M visitors annually 9 outdoor water parks 841 (in-park) rides and attractions 4 124 outdoor water parks roller coasters (unique gates) 2,300+ 1 hotel rooms indoor water park (hotel feature) 4 Ended 12/31/19 Ended 12/31/19 Same-park Basis 2019 Operating Results w/ Schlitterbahn $1.47B $1.43B 3% 4% Net Revenues 9% 6% 1% Net Revenues Growth 8% 5% Attendance 1% 1% In-Park Per Capita Spending 8% 11% Out-of-Park Revenues 5Ended 12/31/19 Ended 12/31/19 Same-park Basis 2019 Operating Results w/ Schlitterbahn $1.47B $1.43B 3% 4% Net Revenues 9% 6% 1% Net Revenues Growth 8% 5% Attendance 1% 1% In-Park Per Capita Spending 8% 11% Out-of-Park Revenues 5 Consumer Demand Remains Strong (a) TOTAL REVENUE ADJUSTED EBITDA ($ in millions) ($ in millions) 1,600 550 $1,475 1,500 $505 500 $481 $479 $1,349 $468 1,400 $459 $1,322 $1,289 $431 1,300 450 $1,236 $425 $1,160 1,200 $391 $1,135 400 $375 $1,068 1,100 $1,028 350 1,000 900 300 2011 2012 2013 2014 2015 2016 2017 2018 2019 2011 2012 2013 2014 2015 2016 2017 2018 2019 2019 Results 2020 Outlook § Record net revenues of $1.47 billion, up 9%; same park up § Sales of season passes and all-season products are 6% up more that 40%, or $40 million, at Dec. 31, 2019 § Record attendance of 27.9 million visits, up 8%; same park § Expand upon offerings of limited-duration special up 5% events and experiential entertainment of scale § Record in-park per capita spending of $48.32, up 1%; same § New long-term growth target - increasing Adjusted park up 1% EBITDA to $600 million by 2024 § Record out-of-park revenues of $169 million, up 11%, same (a) 6 See Appendix for reconciliation of Adjusted EBITDA park up 8%Consumer Demand Remains Strong (a) TOTAL REVENUE ADJUSTED EBITDA ($ in millions) ($ in millions) 1,600 550 $1,475 1,500 $505 500 $481 $479 $1,349 $468 1,400 $459 $1,322 $1,289 $431 1,300 450 $1,236 $425 $1,160 1,200 $391 $1,135 400 $375 $1,068 1,100 $1,028 350 1,000 900 300 2011 2012 2013 2014 2015 2016 2017 2018 2019 2011 2012 2013 2014 2015 2016 2017 2018 2019 2019 Results 2020 Outlook § Record net revenues of $1.47 billion, up 9%; same park up § Sales of season passes and all-season products are 6% up more that 40%, or $40 million, at Dec. 31, 2019 § Record attendance of 27.9 million visits, up 8%; same park § Expand upon offerings of limited-duration special up 5% events and experiential entertainment of scale § Record in-park per capita spending of $48.32, up 1%; same § New long-term growth target - increasing Adjusted park up 1% EBITDA to $600 million by 2024 § Record out-of-park revenues of $169 million, up 11%, same (a) 6 See Appendix for reconciliation of Adjusted EBITDA park up 8% Strong Long-Term Growth and Recession Resilient Financial Crisis 2009 = (11.0%) $600 Acquisitions: 2010 = 13.2% 1992 – Dorney Park Early 2000’s 1995 – World of Fun $500 Recession 1997 – Knott’s Berry Farm 2001 – Michigan’s $400 Adventure 2001 = (6.1%) Early 1990’s 2002 = 11.4% 2004 – Geauga Lake Recession $300 2006 – Paramount Parks (five parks) 2019 – Schlitterbahn $200 (two water parks) – Sawmill Creek (a) $100 Adj.