The board of directors of IMAX China Holding, Inc. announced that based on its preliminary assessment of the Group's currently available unaudited consolidated management accounts for the first three months ended 31 March 2020, the net loss attributable to owners of the Company to be recorded by the Group for the three months ended 31 March 2020 is expected to be approximately USD 26 million to USD 28 million, compared to a net profit attributable to owners of approximately USD 11 million for the corresponding period of 2019. Such decrease is primarily due to: an expected loss arising from loss of box office revenue and other related costs as a result of the closure of all of the approximately 700 IMAX theaters in Chinese mainland since around 24 January 2020 and the decrease in theater system installations during the outbreak of COVID-19 in Chinese mainland in the first quarter of 2020, and a USD 20 million non-recurring, non-cash deferred income tax charge for withholding tax due to a change in management's permanent reinvestment assertions to allow for more flexibility in allocation of capital including enabling the Company to pay dividends.