The board of directors announced that Mr. Jim Athanasopoulos' (Mr. Athanasopoulos) term of employment with the Company has expired on 31 July 2023 pursuant to his employment agreement with the Company dated 30 November 2011, as amended, and he will take on the role of Senior Vice President, Global Operations, IMAX Theatres at IMAX Corporation starting from 1 August 2023. Mr. Athanasopoulos will remain as an executive Director and a director of IMAX China (Hong Kong), Limited (IMAX Hong Kong), a wholly-owned subsidiary of the Company, and he will no longer hold any other positions in the Group since 1 August 2023. Mr. Athanasopoulos has confirmed that he has no disagreement with the Board and there is no matter in relation to his leaving the positions of the Chief Operating Officer that needs to be brought to the attention of the shareholders of the Company or The Stock Exchange of Hong Kong Limited.

The Board further announced that Ms. Jenny Jianing Chen (Ms. Chen) has been appointed as the Chief Operating Officer of the Company with effect from 1 August 2023. Ms. Chen, aged 54, will be responsible for the overall management of all aspects of the Group's finance, treasury, and operational matters. Ms. Chen has more than 20 years' management experience.

Prior to joining the Group, Ms. Chen worked as the Chief Financial Officer of mProbe Inc. since November 2019. She also worked as Consulting Chief Financial Officer of CFO Consulting PLLC from 2017 to 2019, as the Chief Financial Officer of Cytovance Biologics from 2016 to 2017, and as a Corporate Controller of Maxcess International from 2015 to 2016. Ms. Chen obtained her bachelor's degree in Accounting from Jinan University and her master's degree in Accounting from Oklahoma State University.

Ms. Chen is a Certified Public Accountant, Certified Management Accountant and Certified Treasury Professional.