Page 1

MARKET ANNOUNCEMENT arnmedia ARN MEDIA FY26 HALF YEAR RESULTS ARN Media accelerates strategic reset , divests non - core assets , reduces cost and delivers digital growth Highlights • Total revenue of $ 127.9m , down 14 % ( down 10 % , normalised for 2025 one - offs ) . • • Operating Costs of $ 84.5m , down 13 % ( down 16 % , excluding reinvestments ) . Underlying EBITDA from continuing operations of $ 18.2m , down $ 6.8m ( 27 % ) . • $ 11.8 million of cost savings delivered during 1HFY26 , with $ 42.5 million achieved since FY24 , remaining on track to deliver $ 55 million by FY27 . • Digital revenue of $ 13.7 million , with digital EBITDA up 55 % to $ 2.1 million . • • Free cash flow of $ 18.6 million , demonstrating disciplined capital management and strong cash generation . Net debt reduced to $ 49.4 million , with leverage maintained at 1.5x , supporting balance sheet strength and financial flexibility . . Continued divestment of non - core assets , including the sale of Cody Hong Kong ( subject to third party consents ) and the partial sale of the Group's investment in SCA , enhancing strategic focus and capital flexibility . • • Ongoing investment in digital , data , video and audience intelligence capabilities to support future growth and revenue diversification . Performance is expected to improve through 2HFY26 as talent reset begins to improve metro radio share and digital growth initiatives flow through . ARN Media Limited ABN 95 008 637 643 Lvl 16 , 40 Mount Street , North Sydney NSW 2060 Australia +61 2 8899 9999 www.arn.com.au