Cinemark Holdings Inc

Pursuant to the requirements of Section 13 or 15(d) of the Exchange Act, each registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

POWER OF ATTORNEY

Each person whose signature appears below hereby severally constitutes and appoints Sean Gamble and Melissa Thomas their true and lawful attorney-in-fact and agent, each with the power of substitution and resubstitution, for him or her in any and all capacities, to sign any and all amendments to this Annual Report on Form 10-K and to file the same, with accompanying exhibits and other related documents, with the Securities and Exchange Commission, and ratify and confirm all that said attorney-in-fact and agent, or his or her substitute or substitutes, may lawfully do or cause to be done by virtue of said appointment.

Pursuant to the requirements of the Exchange Act, this report has been signed below by the following persons on behalf of the registrants and in the capacities and on the dates indicated.

SUPPLEMENTAL INFORMATION TO BE FURNISHED WITH REPORTS FILED PURSUANT TO

SECTION 15(d) OF THE ACT BY REGISTRANTS WHICH HAVE NOT REGISTERED

SECURITIES PURSUANT TO SECTION 12 OF THE ACT.

No annual report or proxy material has been sent to our stockholders. An annual report and proxy material may be sent to our stockholders subsequent to the filing of this Form 10-K. We shall furnish to the SEC copies of any annual report or proxy material that is sent to our stockholders.

INDEX TO CONSOLIDATED FINANCIAL STATEMENTS

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the stockholders and the Board of Directors of Cinemark Holdings, Inc.

Opinion on the Financial Statements

We have audited the accompanying consolidated balance sheets of Cinemark Holdings, Inc. and subsidiaries (the “Company”) as of December 31, 2024 and 2023, the related consolidated statements of income (loss), comprehensive income (loss), equity, and cash flows, for each of the three years in the period ended December 31, 2024, and the related notes and the schedules listed in the Index at Item 15 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2024 and 2023, and the results of its operations and its cash flows for each of the three years in the period ended December 31, 2024, in conformity with accounting principles generally accepted in the United States of America.

We have also audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the Company's internal control over financial reporting as of December 31, 2024, based on criteria established in Internal Control — Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission and our report dated February 19, 2025, expressed an unqualified opinion on the Company's internal control over financial reporting.

These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statements based on our audits. We are a public accounting firm registered with the PCAOB and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

Critical Audit Matter

The critical audit matter communicated below is a matter arising from the current-period audit of the financial statements that was communicated or required to be communicated to the audit committee and that (1) relates to accounts or disclosures that are material to the financial statements and (2) involved our especially challenging, subjective, or complex judgments. The communication of the critical audit matter does not alter in any way our opinion on the financial statements, taken as a whole, and we are not, by communicating the critical audit matter below, providing a separate opinion on the critical audit matter or on the accounts or disclosures to which it relates.

Income Taxes – Domestic Valuation Allowance (valuation assertion)— Refer to Notes 1 and 19 to the consolidated financial statements

Critical Audit Matter Description

The Company uses an asset and liability approach to financial accounting and reporting for income taxes. Deferred income taxes are provided when tax laws and financial accounting standards differ with respect to the amount of income for a year and the basis of assets and liabilities. A valuation allowance is recorded to reduce the carrying amount of deferred tax assets unless it is more likely than not such assets will be realized. The Company assesses the likelihood that it will recover its deferred tax assets against estimated future sources of taxable income and reduces the carrying amounts of deferred tax assets by recording a valuation allowance when such assets are deemed to not be realizable. During fiscal year 2024, the Company determined it was more likely than not that a significant portion of the U.S. deferred tax assets that previously carried a valuation allowance are now realizable. As a result, the Company released a portion of the domestic valuation allowance related to certain deferred tax assets of $101 million and recorded a corresponding income tax benefit.

We identified management’s determination that the negative evidence of historical losses and industry volatility were outweighed by the positive evidence of objective and verifiable taxable income, as well as forecasted future taxable income. This required a higher degree of auditor judgment and an increased extent of effort, including the need to involve our income tax specialists, when performing audit procedures to evaluate the reasonableness of management's forecasts of future taxable income.

How the Critical Audit Matter Was Addressed in the Audit

Our audit procedures related to management's determination that in the current year it was more likely than not that a significant portion of U.S. deferred tax assets will be realized in the future included the following, among others:

•

We tested the effectiveness of management's controls over their valuation allowance analysis to conclude it is more likely than not that sufficient future taxable income will be generated to realize the deferred tax assets.

•

With the assistance of our income tax specialists, we performed the following:

•

Tested the accuracy of historical taxable income used in the analysis.

•

Considered the Company’s ability to adjust the cumulative loss position for nonrecurring items to arrive at an adjusted cumulative income position to allow for forecasting of deferred tax asset realization.

•

Evaluated forecasted taxable income by considering historical results, box office projections, and industry outlook information.

•

Evaluated whether the estimates of future taxable income were consistent with evidence obtained in other areas of the audit.

•

Tested the Company’s deferred tax scheduling as a source of the realization of its deferred tax assets.

•

Tested the Company’s application of tax law to validate the timing of deferred tax asset expirations used in the Company’s analysis.

/s/Deloitte & Touche LLP

Dallas, Texas

February 19, 2025

We have served as the Company's auditor since 1988.

REPORTOF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors of Cinemark USA, Inc.

Opinion on the Financial Statements

We have audited the accompanying consolidated balance sheets of Cinemark USA, Inc. and subsidiaries (the “Company”) as of December 31, 2024 and 2023, the related consolidated statements of income (loss), comprehensive income (loss), equity, and cash flows, for each of the three years in the period ended December 31, 2024, and the related notes and the schedules listed in the Index at Item 15 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2024 and 2023, and the results of its operations and its cash flows for each of the three years in the period ended December 31, 2024, in conformity with accounting principles generally accepted in the United States of America.

These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

Critical Audit Matter

The critical audit matter communicated below is a matter arising from the current-period audit of the financial statements that was communicated or required to be communicated to the audit committee and that (1) relates to accounts or disclosures that are material to the financial statements and (2) involved our especially challenging, subjective, or complex judgments. The communication of the critical audit matter does not alter in any way our opinion on the financial statements, taken as a whole, and we are not, by communicating the critical audit matter below, providing a separate opinion on the critical audit matter or on the accounts or disclosures to which it relates.

Income Taxes – Domestic Valuation Allowance (valuation assertion)— Refer to Notes 1 and 19 to the consolidated financial statements

Critical Audit Matter Description

The Company uses an asset and liability approach to financial accounting and reporting for income taxes. Deferred income taxes are provided when tax laws and financial accounting standards differ with respect to the amount of income for a year and the basis of assets and liabilities. A valuation allowance is recorded to reduce the carrying amount of deferred tax assets unless it is more likely than not such assets will be realized. The Company assesses the likelihood that it will recover its deferred tax assets against estimated future sources of taxable income and reduces the carrying amounts of deferred tax assets by recording a valuation allowance when such assets are deemed to not be realizable. During fiscal year 2024, the Company determined it was more likely than not that a significant portion of the U.S. deferred tax assets that previously carried a valuation allowance are now realizable. As a result, the Company released a portion of the domestic valuation allowance related to certain deferred tax assets of $95 million and recorded a corresponding income tax benefit.

We identified management’s determination that the negative evidence of historical losses and industry volatility were outweighed by the positive evidence of objective and verifiable taxable income, as well as forecasted future taxable income. This required a higher degree of auditor judgment and an increased extent of effort, including the need to involve our income tax specialists, when performing audit procedures to evaluate the reasonableness of management's forecasts of future taxable income.

How the Critical Audit Matter Was Addressed in the Audit

Our audit procedures related to management's determination that in the current year it was more likely than not that a significant portion of U.S. deferred tax assets will be realized in the future included the following, among others:

•

We tested the effectiveness of management's controls over their valuation allowance analysis to conclude it is more likely than not that sufficient future taxable income will be generated to realize the deferred tax assets.

•

With the assistance of our income tax specialists, we performed the following:

•

Tested the accuracy of historical taxable income used in the analysis.

•

Considered the Company’s ability to adjust the cumulative loss position for nonrecurring items to arrive at an adjusted cumulative income position to allow for forecasting of deferred tax asset realization.

•

Evaluated forecasted taxable income by considering historical results, box office projections, and industry outlook information.

•

Evaluated whether the estimates of future taxable income were consistent with evidence obtained in other areas of the audit.

•

Tested the Company’s deferred tax scheduling as a source of the realization of its deferred tax assets.

•

Tested the Company’s application of tax law to validate the timing of deferred tax asset expirations used in the Company’s analysis.

/s/Deloitte & Touche LLP

Dallas, Texas

February 19, 2025

We have served as the Company's auditor since 1988.

PART IV - FINANCIAL INFORMATION

Item 15. Financial Statements