Stingray Q1 2023 Financial Results

FINANCIAL RESULTS Business Model Leading to High Margins and High Cash Generation $41.5 ADJUSTED EBITDA AND NET INCOME $2.3 $72.2 $118.1 $114.3 $99.3 $101.2 $14.0 $45.1 $38.5 $33.3 $44.7 $38.8 $30.6 $19.9 FY18 -$12.0 FY19 FY20 FY21 (Covid-19) FY22 (Covid-19) LTM FY18 FY19 Adjusted EBITDA (1) Net income CASH FLOW $104.2 $88.1 $83.7 $83.7 $78.4 $74.4 FY20 $56.9 $57.6 FY21 (Covid-19) FY22 (Covid-19) LTM Cash flows from operating activities Adjusted Free Cash Flow (2) All in CAD$ millions Note 1: See the reconciliation tables for Adjusted EBITDA in the Annual and Quarterly reports. Note 2: Refer to "IFRS and Non-IFRS measures" and "Supplemental information on Non-IFRS measures" in the Annual and Quarterly reports. STINGRAY 20

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