Encina Commercial Finance Provides $125 Million First-Out Financing as Part of $300 Million Unitranche Supporting National CineMedia’s Acquisition of Captivate Holdings

Norwalk, CT – September 22, 2026 – Encina Commercial Finance ("ECF") is pleased to announce that it provided $125 million of first-out financing as part of a $300 million senior secured unitranche supporting National CineMedia’s (NASDAQ: NCMI) (“NCM”) acquisition of Captivate Holdings, LLC (“Captivate”). The financing was provided in partnership with Crestline Direct Finance, L.P., which led the transaction and serves as administrative agent. Encina Commercial Finance was a joint lead arranger on the transaction.

National CineMedia, Inc. (NCM, NASDAQ:NCMI) is the leading premium video and digital out-of-home advertising platform in the U.S., connecting brands to sought-after audiences across cinema, office, and residential environments. A premium video, full-funnel marketing solution for advertisers, NCM enhances marketers' ability to measure and drive results. NCM’s platform comprises more than 48,000 digital screens in 185 Designated Market Areas®, including all of the top 100. Through its wholly owned Captivate subsidiary, NCM operates over 26,000 digital video screens across more than 11,000 office and residential buildings in North America. NCM is the managing member and owner of 100% of National CineMedia, LLC (NCM LLC).