IMAX Corporation 902 Broadway, 20th Floor New York, New York, U.S.A. 10010

Dear Fellow Shareholders: April 29, 2020 We hope this letter finds you safe and healthy as IMAX joins the world in confronting the extraordinary challenges of COVID-19. At IMAX, we are building on our strong financial position and a record-breaking 2019 to manage through this crisis, and ensure we are ready when our audiences return to theatres. Our company has been facing COVID-19 longer than many. In January 2020, IMAX® screens across China closed as part of the country’s broader shutdown to slow the spread of the virus. Multiplexes around the world soon followed. At present, most of our 1,616 IMAX theatres across 81 countries and territories are closed in accordance with local public health measures. IMAX is well-positioned to operate through this temporary shutdown. Our business model is asset-light with a global workforce of under 750 people. Our primary capital expenditures are growth related and controllable. We continue to take incremental cost actions as we manage through this pandemic. When the virus recedes, we believe consumers around the world will turn to strong, trusted brands like IMAX. Indeed, our brand has never been stronger. In 2019, we set new box office records, delivered solid growth in our theatre network, further diversified our global footprint, and generated robust demand for our cutting-edge IMAX with Laser projection system. As we look at the film slate ahead, a record number of releases were filmed using IMAX cameras, including No Time to Die, Tenet, Top Gun: Maverick, Wonder Woman 1984 and more. When much of the exhibition industry fell into bankruptcy in 2001, IMAX ushered in a period of innovation in which we invented our proprietary digital re-mastering process, developed the joint venture model in our sales business, and transitioned our operations from analog to digital. Similarly, we are pursuing opportunities through this crisis. We are developing new technologies to bring more interactivity to our theatres, fast-tracking a direct-to-consumer strategy, and codifying our vast troves of film and theatre data from around the world. Now more than ever, we are grateful for your support. We are exceptionally focused on emerging from COVID-19 as a stronger company and continuing to deliver value for our shareholders. I would like to invite you to attend our 2020 Annual and Special Meeting, scheduled to be held on Wednesday, June 3, 2020 via live audio webcast. Shareholders will be asked to vote on a number of proposals, details of which are set forth in the accompanying Notice of Annual and Special Meeting and Proxy Circular and Proxy Statement. Your vote is important, and we encourage you to ensure your shares are represented. You may vote by completing and returning the accompanying Form of Proxy. You may also vote over the Internet or by telephone. Please refer to the Proxy Circular and Proxy Statement for instructions and additional details. Until then, please stay healthy and safe.

Sincerely,

/s/ Richard L. Gelfond

Richard L. Gelfond CEO, IMAX Corporation