Investment Case

Regal is a leader in a Stable, Mature Industry

  • Long term box office trend line shows annual growth of ~4%
  • Industry box office revenue exceeded $10B in each of the last 8 years
  • As one of the largest exhibitors, we benefit from size and scale

Regal generates significant free cash flow

  • Average annual free cash flow of approx. ~$230M for the last five years
  • Free cash flow well ahead of our competitors
  • Able to generate free cash flow in good and bad box office periods

We use our cash in ways that benefit shareholders

  • Grow the asset base by building and acquiring theaters
  • Find innovative and return focused ways to better utilize existing assets
  • Provide a meaningful return of capital to shareholders

Shareholder Value

Total Return Since IPO1: 465.7% Dividends Since IPO:  $28.68 
Total Return last 3 Years2: 41.9%  Dividends Last 3 Years: $3.64 
Annualized Return2: 12.4%  Current Dividend Yield: 3.9%

Note1: Total return assumes gross dividends reinvested in RGC from 05/10/02 to 03/31/17

Note2: Total return assumes gross dividends reinvested in RGC from 04/01/14 to 03/31/17

We believe that paying dividends on our shares of common stock is important to our stockholders. To that end, during fiscal 2016, we paid to our stockholders four quarterly cash dividends of $0.22 per share on each outstanding share of our Class A and Class B common stock, or approximately $138.9 million in the aggregate. Further, on April 26, 2017, we declared a cash dividend of $0.22 per share on each outstanding share of Class A and Class B common stock. The dividend is payable on June 15, 2017 to our stockholders of record on June 5, 2017. These dividends have been or will be funded through cash flow from operations and available cash on hand. We, at the discretion of our Board of Directors and subject to applicable law, anticipate paying regular quarterly dividends on our Class A and Class B common stock for the foreseeable future. The amount, if any, of the dividends to be paid in the future will depend upon our then available cash, anticipated cash needs, overall financial condition, loan agreement restrictions, future prospects for earnings and cash flows, as well as other relevant factors. Dividends are considered quarterly and may be paid only when, and in such amounts as, approved by our Board of Directors.

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