Stingray Q1 2023 Financial Results

BUSINESS CONSUMERS RADIO Stingray Radio - A Leading Radio Operator in Canada o Q1 overall organic revenues grew 9% YoY o Increase was locally driven as economic uncertainty and supply chain issues continued to affect national advertisers and key advertising categories (automotive, etc.) o Revenue growth was muted due to a high proportion of Stingray Radio revenues coming from Atlantic Canada which did not experience declines as significant as the rest of Canada during the pandemic (revenue gains in the low single digits) • Growth of digital offering remains strong (+49% YoY) o Strong cash flow fueling Stingray's strategic initiatives STINGRAY 15

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