Financial Analysis

NOTE 15 COMMITMENTS AND CONTINGE NCIES Insofar as our Company is aware, there are no claims, arbitration proceedings, or litigation proceedings that constitute material contingent liabilities of our Company. Such matters require significant judgments based on the facts known to us. These judgments are inherently uncertain and can change significantly when additional facts become known. We provide accruals for matters that have probable likelihood of occurrence and can be properly estimated as to their expected negative outcome. We do not record expected gains until the proceeds are received by us. However, we typically make no accruals for potential costs of defense, as such amounts are inherently uncertain and dependent upon the scope, extent and aggressiveness of the activities of the applicable plaintiff. Litigation Matters We are currently involved in certain legal proceedings and, as required, have accrued estimates of probable and estimable losses for the resolution of these claims, including legal costs. Where we are the plaintiffs , we accrue legal fees as incurred on an on-going basis and make no provision for any potential settlement amounts until received. In Australia, the prevailing party is usually entitled to recover its attorneys fees, which recoveries typically work out to be approximately 60% of the amounts actually spent where first-class legal counsel is engaged at customary rates. Where we are a plaintiff, we have likewise made no provision for the liabil …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

"NOTE 13 BORROWI NGS The Companys borrowings at December 31, 2025 and 2024, net of deferred financing costs and incorporating the impact of interest rate swaps on our effective interest rates, are summarized below: As of December 31, 2025 (Dollars in thousands) Maturity Date Contractual Facility Balance, Gross Balance, Net (1) Stated Interest Rate Effective Interest Rate Denominated in USD Trust Preferred Securities (US) April 30, 2027 $ 27,913 $ 27,913 $ 27,617 8.10 % 8.10 % Bank of America Credit Facility (US) September 18, 2026 6,200 6,200 6,200 10.75 % 10.75 % Cinemas 1, 2, 3 Term Loan (US) October 1, 2026 19,841 19,841 19,766 9.46 % 9.46 % Minetta & Orpheum Theatres Loan (US) June 1, 2026 6,829 6,829 6,819 7.00 % 7.00 % Union Square Financing (US) (3) November 6, 2026 49,000 46,641 46,184 10.87 % 10.87 % Nationwide Theaters Corp. (US) (4) September 30, 2035 13,648 13,648 7,648 4.75 % 12.66 % Denominated in foreign currency (""FC"") (2) NAB Corporate Term Loan (AU) July 31, 2030 64,019 64,019 63,732 5.25 % 5.25 % $ 187,450 $ 185,091 $ 177,966 (1) Net of deferred financing costs amounting to $ 1.1 million and debt discounts (4). (2) The contractual facilities and outstanding balances of the FC-denominated borrowings were translated into U.S. dollars based on exchange rates as of December 31, 2025. (3) This loan has an option to extend for one year, which is within our control and we intend to exercise. (4) This debt is carried net of debt discounts of $ 6.0 million. As …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

NOTE 17 SHARE-BASED COMPENSATION AND SHARE REPURCHASE PL ANS 2020 Stock Incentive Plan On December 5, 2024, the Companys stockholders, upon recommendation of the Companys board of directors, approved the Second Amendment to the 2020 Stock Incentive Plan, increasing the number of Class A Common Stock reserved for issuance under the 2020 Plan by an additional 3,500,000 shares. Under the 2020 Plan, the Company may grant stock options and other share-based payment awards of our Class A Common Stock to eligible employees, directors and consultants. At December 31, 2025, there were 870,833 shares of Class A Common Stock available for issuance under the 2020 Plan. Stock options are granted at exercise prices equal to the grant-date market prices and typically expire on either the fifth or tenth anniversary of the grant date, although the Companys Compensation and Stock Options Committee (the Compensation Committee) may set different vesting times. In contrast to a stock option where the grantee buys our Companys share at an exercise price determined on the grant date, a restricted stock unit (RSU) entitles the grantee to receive one share for every RSU based on a vesting plan, typically between one year and four years from grant. As discussed further below, a performance component has been added to certain of the RSUs or options granted to management. At the time the options are exercised or RSUs vest and are settled, at the discretion of management, we may issue treasury shares or …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

NOTE 19 FAIR VALUE MEASUREM ENTS Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. If quoted prices in an active market are available, fair value is determined by reference to these prices. If quoted prices are not available, fair value is determined by valuation models that primarily use, as inputs, market-based or independently sourced parameters, including but not limited to interest rates, volatilities, and credit curves. Additionally, we may reference prices for similar instruments, quoted prices or recent transactions in less active markets. We use prices and inputs that are current as of the measurement date. Assets and liabilities that are carried at fair value (either recurring or non-recurring basis) are classified and disclosed in one of the following categories: Level 1: Quoted (unadjusted) prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. This consist primarily of investments in marketable securities which are our investments associated with the ownership of marketable securities in U.S. and New Zealand. These investments are valued based on observable market quotes on the last trading date of the reporting period. Level 2: Quoted prices in active markets for similar assets and liabilities, or inputs that are observable, either directly or indirectly, for subst …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

NOTE 10 GOODWILL AND INTANGIBLE ASSETS The table below summarizes goodwill by business segment: (Dollars in thousands) Cinema Real Estate Total Balance at January 1, 2024 $ 20,311 $ 5,224 $ 25,535 Foreign currency translation adjustment ( 1,823 ) ( 1,823 ) Balance at December 31, 2024 $ 18,488 $ 5,224 $ 23,712 Foreign currency translation adjustment 891 891 Balance at December 31, 2025 $ 19,379 $ 5,224 $ 24,603 Our Company is required to test goodwill and other intangible assets for impairment on an annual basis and, if current events or circumstances require, on an interim basis. To test the impairment of goodwill, our Company compares the fair value of each reporting unit to its carrying amount, including the goodwill, to determine if there is potential goodwill impairment. A reporting unit is generally one level below the operating segment. The most recent annual assessment occurred in the fourth quarter of 2025. The assessment results, as described at Note 2 - Liquidity, indicated that there is no impairment to our goodwill as of December 31, 2025. The tables below summarize intangible assets other than goodwill: December 31, 2025 (Dollars in thousands) Beneficial Leases Trade Name Other Intangible Assets Total Gross carrying amount $ 10,458 $ 9,024 $ 4,303 $ 23,785 Less: accumulated amortization ( 10,313 ) ( 8,229 ) ( 3,667 ) ( 22,209 ) Less: impairment charges Net intangible assets other than goodwill $ 145 $ 795 $ 636 $ 1,576 December 31, 2024 (Dollars in thousands) Be …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

NOTE 12 - INCOME T AXES On July 4, 2025, the One Big Beautiful Bill Act (OBBBA) was enacted in the United States. The OBBBA includes significant tax law changes, including the permanent extension of certain provisions from the Tax Cuts and Jobs Act, modifications to the international tax framework, and the reinstatement of favorable business tax provisions. These include 100% bonus depreciation, immediate expensing of Section 174 domestic research and experimental expenditures, and revised limitations under Section 163(j) on the deductibility of business interest expense. The legislation has multiple effective dates, with certain provisions effective beginning in 2025, and others implemented through 2027. The OBBBA does not have a material effect on the Company's consolidated financial statements for the year ending December 31, 2025. Income before income taxes includes the following: (Dollars in thousands) 2025 2024 2023 United States $ ( 18,488 ) $ ( 30,056 ) $ ( 29,986 ) Foreign 4,129 ( 4,974 ) ( 1,065 ) Income (loss) before income taxes and equity earnings of unconsolidated joint ventures $ ( 14,359 ) $ ( 35,030 ) $ ( 31,051 ) Equity earnings of unconsolidated joint ventures : United States Foreign 560 ( 387 ) 456 Income (loss) before income taxes $ ( 13,799 ) $ ( 35,417 ) $ ( 30,595 ) Significant components of the provision for income taxes are as follows: (Dollars in thousands) 2025 2024 2023 Current income tax expense (benefit) Federal $ $ $ ( 800 ) State 40 42 49 Fore …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

New Accounting Standards and Accounting Changes Recently Adopted and Issued Accounting Pronouncements Adopted: ASU 2023-07 Segment Reporting: Improvements to Reportable Segment Disclosures On December 16, 2024, we adopted ASU 2023-07: Segment Reporting: Improvements to Reportable Segment Disclosures . This ASU expands the disclosures required by public entities for reportable segments. Adoption of the ASU has had no material effect on our consolidated financial statements from a recognition and measurement perspective, and has not altered our reportable segments, but has enhanced our disclosure of certain expenses and profitability measurement. ASU 2023-09 Income Taxes: Improvements to Income Tax Disclosures Effective year ended December 31, 2025, we adopted ASC 2023-09 Income Taxes: Improvements to Income Tax Disclosures (ASU 2023-09). The amendments in ASU 2023-09 require entities to disclose on an annual basis (i) specific categories in the rate reconciliation and (ii) provide additional information for reconciling items that meet a quantitative threshold. The amendments also require that entities disclose various information about income taxes paid and (i) income (or loss) from continuing operations before income tax expense (or benefit) disaggregated between domestic and (ii) foreign and income tax expense (or benefit) from continuing operations disaggregated by federal (national), state, and foreign. Adoption of the ASU has had no material effect on our consolidated fin …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

NOTE 21 RELATED PARTI ES The following table identifies our related parties as of December 31, 2025, in accordance with ASC 850, Related Party Transactions : Categories Related Parties Discussion Notes Principal Owners and immediate families Cotter Familys Estate and Living Trust (controlling family) Mark Cuban (above 10% voting ownership) Key Executive Officers and immediate families Ellen M. Cotter Margaret Cotter Gilbert Avanes S Craig Tompkins Robert F. Smerling Mark Douglas President and Chief Executive Officer EVP Real Estate Development and Management (NY) EVP Chief Financial Officer and Treasurer EVP General Counsel President U.S. Cinemas Managing Director, Australia and New Zealand Investments in Joint Ventures accounted for under equity method Rialto Cinemas Mt. Gravatt Refer to Note 9 Investment in Unconsolidated Joint Ventures Other Affiliates Entities under common control All subsidiaries of RDI Refer to Exhibit 21 of this 2025 Form 10-K filing for the complete list of subsidiaries. Refer below for further discussions on certain key transactions with related parties, including those with minority interests. Acquisition of Sutton Hill Associates In 2025, we determined to wind up our long standing master lease agreement with Sutton Hill Capital, LLC (SHC) so as to give us (i) complete ownership of our Cinemas, 1,2,3 property and (ii) legal, as opposed to only beneficial, title to the ground lessees interest in the land and real property improvements constituting ou …

RelatedPartyTransactionsDisclosureTextBlock · excerpt; the full note is in the filing

NOTE 4 SEGMENT REPOR TING We report information about operating segments in accordance with ASC 280-10 Segment Reporting, which requires financial information to be reported based on the way management organizes segments with a company for making operating decisions and evaluating performance. We have organized our business into two reportable segments, being cinema exhibition and real estate. Our cinema exhibition segment aggregates all our cinemas, both leased and owned, across the United States, Australia and New Zealand. Each of our cinemas earns revenue through the sale of movie tickets, food and beverage, screen advertising, theatre rentals, merchandise, gift card and loyalty membership, and other ancillary sales. The segment also earns revenue through service fees related to online ticket sales. Expenses are incurred through film rent, wages and salaries, food and beverage costs, occupancy costs, utilities, and other ancillary costs. We further organize this segment by geography, as while all our cinemas are engaged in substantially the same business activities, each geography is subject to its own unique regulatory and business conditions. Our real estate segment aggregates all our retail, commercial and live theatre real estate assets across Australia, New Zealand, and the United States. Our retail and commercial real estate assets earn revenue through the leasing or licensing of space to third party tenants. Our live theatre assets in the United States earn revenue …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

NOTE 3 SUMMARY OF SIGNIFICANT ACCOUNTING POLICI ES Significant Accounting Policies Basis of Consolidation Our consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP). These consolidated financial statements include the accounts of our wholly owned subsidiaries. We have also consolidated the following entities that are not wholly owned for which we have control: Australia Country Cinemas Pty, Limited, a company in which we own a 75 % interest and whose only assets are our leasehold cinema at Dubbo, Australia and our owned cinema at Townsville, Australia; and, Shadow View Land and Farming, LLC in which we own a 50 % controlling membership interest and whose only asset was a 202 -acre land parcel in Coachella, California which was sold in March 2021. The company is in the process of winding up. Our investment interests in certain joint venture arrangements, for which we own between 20 % to 50 % and for which we have no control over the operations, are accounted for as unconsolidated joint ventures, and hence, recorded in the consolidated financial statements under the equity method. These investment interests include our: 33.3 % undivided interest in the unincorporated joint venture that owns the Mt. Gravatt cinema in a suburb of Brisbane, Australia; 50 % undivided interest in the unincorporated joint venture that owns Rialto Cinemas in New Zealand. We consider that we have contr …

SignificantAccountingPoliciesTextBlock · excerpt; the full note is in the filing

NOTE 22 SUBSEQUENT EVE NTS On February 27, 2026, we modified our Bank of America facility to defer current principal repayments. The maturity date and interest rate remain unchanged. In February 2026, we classified our Cinemas 1,2,3 property as held for sale. On March 4, 2026, we signed a purchase and sale agreement to monetize our Napier, New Zealand property. The transaction has proceeded to a due diligence period. On March 30, 2026, in anticipation of the upcoming scheduled NAB debt repayments, NAB has agreed to reduce our minimum liquidity requirement for a limited defined period in 2026. …

SubsequentEventsTextBlock · excerpt; the full note is in the filing

Note 16 Commitments and Contingencies Litigation Matters We are currently involved in certain legal proceedings, and we may from time to time, in the normal course of business, be a party to various ordinary course claims from vendors, landlords, tenants, employees and competitors and to other legal proceedings. If management believes that a loss arising from the action is probable and can reasonably be estimated, the Company records the amount of the loss or the minimum estimated liability when the loss is estimated using a range and no point in the range is more probable than another. Management believes that the ultimate outcome of the matters discussed below, individually and in the aggregate, will not likely have a material adverse effect on the Companys financial position or overall trends in results of operations. However, litigation and claims are subject to inherent uncertainties and unfavorable outcomes can occur. An unfavorable outcome might include monetary damages. If an unfavorable outcome were to occur, there exists the possibility of a material adverse impact on the results of operation in the period in which the outcome occurs or in future periods. An unfavorable outcome could also have a material adverse effect on the Companys financial position or the market prices of the Companys securities. Environmental and Asbestos Claims on Reading Legacy Operations Certain of our subsidiaries were historically involved in railroad operations, coal mining, and manufact …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

"Note 13 Borrowings Our Companys borrowings at September 30, 2025 and December 31, 2024, net of deferred financing costs and including the impact of interest rate derivatives on effective interest rates, are summarized below: As of September 30, 2025 (Dollars in thousands) Maturity Date Contractual Facility Balance, Gross Balance, Net (1) Stated Interest Rate Effective Interest Rate Denominated in USD Minetta & Orpheum Theatres Loan (US) June 1, 2026 $ 7,117 $ 7,117 $ 7,101 7.00 % 7.00 % Bank of America Credit Facility (US) May 18, 2026 6,700 6,700 6,700 11.25 % 11.25 % Cinemas 1, 2, 3 Term Loan (US) ( 2 ) October 1, 2025 20,442 20,442 20,442 9.32 % 9.32 % Union Square Financing (US) November 6, 2026 49,000 46,641 46,047 11.35 % 11.35 % Trust Preferred Securities (US) April 30, 2027 27,913 27,913 27,561 8.57 % 8.57 % Denominated in foreign currency (""FC"") (3) NAB Corporate Term Loan (AU) ( 4 ) July 31, 2026 63,825 63,825 63,762 5.35 % 5.35 % $ 174,997 $ 172,638 $ 171,613 (1) Net of deferred financing costs amounting to $ 1.0 million. (2) This facility was extended after September 30, 2025, and now matures on October 1, 2026. See below for discussion. (3) The contractual facilities and outstanding balances of the foreign currency denominated borrowings were translated into U.S. dollars based on the applicable exchange rates as of September 30, 2025. (4) This facility was extended after September 30, 2025, and now matures in July 2030. See below for discussion. As the loa …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

Note 18 Stock-Based Compensation and Stock Repurchases Employee and Director Stock Incentive Plan 2020 Stock Incentive Plan On November 4, 2020, our Company enacted the 2020 Stock Incentive Plan, which was also approved by our Companys stockholders on December 8, 2020 (as amended, the 2020 Plan). Under the 2020 Plan, the number of permitted authorized shares for issuance was originally set at 1,250,000 , plus any shares reserved for awards outstanding under the 2010 Plan that were subsequently forfeited (for instance, through a then outstanding out of the money option) or if the related shares are repurchased, a corresponding number of shares would automatically become available for issuance under the 2020 Plan. On December 7, 2023, our Companys stockholders, upon recommendation of our Companys board of directors, approved the First Amendment to the 2020 Stock Incentive Plan, increasing the number of shares of Class A Common Stock reserved for issuance under the 2020 Plan by an additional 971,807 shares. On December 5, 2024, the Companys stockholders, upon recommendation of the Companys board of directors, approved the Second Amendment to the 2020 Stock Incentive Plan, increasing the number of Class A Common Stock reserved for issuance under the 2020 Plan by an additional 3,500,000 shares. Under the 2020 Plan, the Company may grant stock options and other share-based payment awards of our Class A Common Stock to eligible employees, directors and consultants. At September 30, …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

Note 20 Fair Value Measurements ASC 820, Fair Value Measurement establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The statement requires that assets and liabilities carried at fair value be classified and disclosed in one of the following three categories: Level 1: Quoted market prices in active markets for identical assets or liabilities; Level 2: Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets; and, Level 3: Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. The following tables summarize our financial liabilities that are carried at cost and measured at fair value on a non-recurring basis as of September 30, 2025, and December 31, 2024, by level within the fair value hierarchy. Fair Value Measurement at September 30, 2025 (Dollars in thousands) Carrying Value (1) Level 1 Level 2 Level 3 Total Notes payable $ 144,725 $ $ $ 144,677 $ 144,677 Subordinated debt 27,913 27,880 27,880 $ 172,638 $ $ $ 172,557 $ 172,557 Fair Value Measurement at December 31, 2024 (Dollars in thousands) Carrying Value (1) Level 1 Level 2 Level 3 Total Notes payable $ 174,800 $ $ $ 174,994 $ 174,994 Subordinated debt 27,913 27,867 27,867 $ 202,7 …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

Note 9 Goodwill and Intangible Assets The table below summarizes goodwill by business segment as of September 30, 2025, and December 31, 2024. (Dollars in thousands) Cinema Real Estate Total Balance at December 31, 2024 $ 18,488 $ 5,224 $ 23,712 Foreign currency translation adjustment 864 864 Balance at September 30, 2025 $ 19,352 $ 5,224 $ 24,576 Our Company is required to test goodwill and other intangible assets for impairment on an annual basis and, if current events or circumstances require them, on an interim basis. Our next annual evaluation of goodwill and other intangible assets is scheduled during the fourth quarter of 2025. To test the impairment of goodwill, our Company compares the fair value of each reporting unit to its carrying amount, including the goodwill, to determine if there is potential goodwill impairment. A reporting unit is generally one level below the operating segment. As of September 30, 2025, we were not aware that any events indicating potential impairment of goodwill had occurred outside of those described at Note 2 Liquidity and Impairment Assessment . The tables below summarize intangible assets other than goodwill, as of September 30, 2025, and December 31, 2024, respectively. As of September 30, 2025 (Dollars in thousands) Beneficial Leases Trade Name Other Intangible Assets Total Gross carrying amount $ 10,458 $ 9,024 $ 4,393 $ 23,875 Less: Accumulated amortization ( 10,301 ) ( 8,198 ) ( 3,666 ) ( 22,165 ) Net intangible assets other than …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

Note 12 Income Taxes An income tax expense of $ 1.1 million and $ 0.3 million were recognized during the nine months ended September 30, 2025 and 2024, respectively. The tax expense for each of the nine-month periods ended September 30, 2025 and 2024 is primarily resulted from year-to-date consolidated losses, offset with adjustments relating to valuation allowances on deferred tax assets in the U.S. and New Zealand. On July 4, 2025, the One Big Beautiful Bill Act (OBBBA) was enacted in the United States. The OBBBA includes significant tax law changes, including the permanent extension of certain provisions from the Tax Cuts and Jobs Act, modifications to the international tax framework, and the reinstatement of favorable business tax provisions. These include 100% bonus depreciation, immediate expensing of Section 174 domestic research and experimental expenditures, and revised limitations under Section 163(j) on the deductibility of business interest expense. The legislation has multiple effective dates, with certain provisions effective beginning in 2025, and others implemented through 2027. The OBBBA does not have a material effect on the Company's consolidated financial statements for the year ending December 31, 2025. …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

Recently Adopted and Issued Accounting Pronouncements Adopted: ASU 2023-07 Segment Reporting: Improvements to Reportable Segment Disclosures On December 16, 2024, we adopted ASU 2023-07: Segment Reporting: Improvements to Reportable Segment Disclosures. This ASU expends the disclosures required by public entities for reportable segments. Adoption of the ASU has had no material effect on our consolidated financial statements from a recognition and measurement perspective, and has not altered our reportable segments, but has enhanced our disclosure of certain expenses and profitability measurement. Recently Announced: ASU 2023-09 Income Taxes: Improvements to Income Tax Disclosures In December 2023, the FASB issued ASC 2023-09 Income Taxes: Improvements to Income Tax Disclosures (ASU 2023-09). The amendments in ASU 2023-09 require entities to disclose on an annual basis (i) specific categories in the rate reconciliation and (ii) provide additional information for reconciling items that meet a quantitative threshold. The amendments also require that entities disclose various information about income taxes paid and (i) income (or loss) from continuing operations before income tax expense (or benefit) disaggregated between domestic and (ii) foreign and income tax expense (or benefit) from continuing operations disaggregated by federal (national), state, and foreign. ASU 2023-09 is effective for the Company for the year ended December 31, 2025. ASU 2024-03 Income Statement Reportin …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

NOTE 4 SEGMENT REPORTING We report information about operating segments in accordance with ASC 280-10 Segment Reporting, which requires financial information to be reported based on the way management organizes segments with a company for making operating decisions and evaluating performance. We have organized our business into two reportable segments, being cinema exhibition and real estate. Our cinema exhibition segment aggregates all our cinemas, both leased and owned, across the United States, Australia and New Zealand. Each of our cinemas earns revenue through the sale of movie tickets, food and beverage, screen advertising, theatre rentals, merchandise, gift card and loyalty membership, and other ancillary sales. The segment also earns revenue through service fees related to online ticket sales. Expenses are incurred through film rent, wages and salaries, food and beverage costs, occupancy costs, utilities, and other ancillary costs. We further organize this segment by geography, as while all our cinemas are engaged in substantially the same business activities, each geography is subject to its own unique regulatory and business conditions. Our real estate segment aggregates all our retail, commercial and live theatre real estate assets across Australia, New Zealand, and the United States. Our retail and commercial real estate assets earn revenue through the leasing or licensing of space to third party tenants. Our live theatre assets in the United States earn revenue t …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

NOTE 3 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Consolidation The accompanying consolidated financial statements include the accounts of our Companys wholly-owned subsidiaries as well as majority-owned subsidiaries that our Company controls and should be read in conjunction with our Companys Annual Report on Form 10-K as of and for the year ended December 31, 2024 (2024 Form 10-K). All significant intercompany balances and transactions have been eliminated on consolidation. These consolidated financial statements were prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) for interim reporting with the instructions for Form 10-Q and Rule 10-01 of Regulation S-X of the Securities and Exchange Commission (SEC). As such, they do not include all information and footnotes required by U.S. GAAP for complete financial statements. We believe that we have included all normal and recurring adjustments necessary for a fair presentation of the results for the interim period. Operating results for the quarter and nine months ended September 30, 2025 are not necessarily indicative of the results that may be expected for the year ending December 31, 2025. Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and footnotes thereto. Significant estimates …

SignificantAccountingPoliciesTextBlock · excerpt; the full note is in the filing

Note 21 Subsequent Events Borrowings On November 12, 2025, we extended the maturity date of our NAB facility to July 31, 2030 . On November 13, 2025, we extended the maturity date of our Valley National facility to October 1, 2026 . Asset monetizations On October 21, 2025, we entered into an agreement for the sale and purchase for our cinema and retail property located in Napier, New Zealand. The purchase price is NZ$ 2.5 million. The agreement is subject to a due diligence period which expires on November 20, 2025. No assurances can be given that the transaction will be consummated. …

SubsequentEventsTextBlock · excerpt; the full note is in the filing