Slides
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Mr Ryan Stokes AO, Chair Annual General Meeting
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1 Mr Ryan Stokes AO Non-Executive Chair Ms Cathy O’Connor Non-Executive Lead Independent Director Mr Rohan Lund Managing Director & CEO Ms Teresa Dyson Independent Non-Executive Director1 Ms Marina Go AM Independent Non-Executive Director2 The Hon Mark McGowan AC Independent Non-Executive Director Ms Karen Stocks Independent Non-Executive Director Ms Sylvia Wiggins Independent Non-Executive Director3 1. Chair, Risk, Regulatory and Compliance Committee 2. Chair, People, Remuneration and Nominations Committee 3. Chair, Audit Committee
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Live Social, off network Podcasts Digital Audio Streaming Publishing Newspapers Radio Television 2 # 1 Broadcast TV BVOD # 1 Metro and regional radio Digital audio Podcasts WA news source 1.2m Nightly users # 1 20.4m Australians reached monthly
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~16m users ~2.7m users ~0.5m users ~13.9m ~0.2m~0.9m ~1.6m ~0.2m ~0.1m Only 7plus Only LiSTNR Only WAN All 3Note: Numbers may not add due to rounding
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Mr Rohan Lund, Managing Director & Chief Executive Officer Annual General Meeting
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6 Meet Audiences where they are. Meet Advertisers where they are. Reimagine How we work
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to Belong to Celebrate to Escape to Know to be Entertained to Connect Trust., 7
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LEADING POSITIONS HELD GROWING SHARE WHERE IT MATTERS Business outcomes 41.2% 42.5% FY25 FY26 35.2% 36.8% FY25 FY26 28.3% 30.0% FY25 FY26 105k 123k FY25 FY26 2.4M 2.7M FY25 FY26 3.2M 3.5M Jun-25 Jun-26 1.0M 1.2M FY25 FY26 40.4% 41.6% FY25 FY26 15.8M 16.7M FY25 FY26 National audience share TV ad revenue share 7plus registered users Metro 25-54 audience share Audio ad revenue share LiSTNR registered users The Game registered usersThe West Australian monthly audience The Nightly digital edition opens TV AudioPublishing 8Note: See the Group’s FY26 investor presentation for definitions and sources
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DIFFICULT TRADING CONDITIONS DISCIPLINED MANAGEMENT Financial performance 9 REVENUE $1,870M DOWN $87M / 4.4% $125M market contraction impact Offset by share growth impact of $41M TOTAL EXPENSES $1,678M DOWN $51M / 3.0% Variable costs lower in line with revenue $30M merger cost synergies EBITDA (excl / incl onerous contracts) $192M / $200M DOWN 15.8% / DOWN 12.8% Reflects market conditions Margin of 10.3%, down 1.4 ppt NPAT $10M DOWN $13M / 58% Lower operating earnings Sig items of $33M due to merger and restructuring NET DEBT $363M UP $6M / 1.6% New $569M cross-Group syndicated facility in place FY26 cashflow available to service debt of $41M REPORTED LEVERAGE 1.8x UP 0.3x Movement primarily reflecting lower earnings Note: All financial data is provided on a pro forma basis. See the Group’s FY26 investor presentation for definitions and sources
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Phoenix Exchange Access & Trading Infrastructure Strategy Un derstand Activat e Optimise Prove Precision+ In finitum Effectiveness 10
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FY27 Q1 trading • 1Q27 revenues lower than in 1Q261, primarily reflecting the impact of broader economy on ad markets from August – particularly in TV – and cessation of Google news receipts • Partially offset by solid share performance in TV, digital and regional Audio revenues, and Publishing circulation and subscription income Cost program • Progressing better than expectations, with total costs down from the PCP, despite absorbing one-off sporting event costs1 Outlook • The advertising market remains short and volatile with consumer and advertiser sentiment variable Trading and outlook 111. Based on pro forma unaudited financial results
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Values-led Respectful Empathetic Safe Building one team Do what you say. Work together. Put your heart into it. Make it happen. 12
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5 November 2026 Annual General Meeting