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Investor Presentaiton

For personal use only 8,740 8,795 8,941 National Cume - All Commercial Stations, People 10+, Monday to Sunday 5.30-12.00 midnight Source: GfK Metropolitan Radio Surveys (Average of SMBAP) Source: GfK Metropolitan Radio Surveys (Average of SMBAP) 1 Source: Audioscape 2018 Survey 9,148 9,306 9,345 Radio Audiences 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Average Average Average Average Average Average Average Average Average Average Average 9,559 9,771 9,923 10,069 10,234 RADIO IS A STRONG & GROWING PLATFORM Radio market continues to grow underpinned by continuous audience growth ✓ Metro 4.0% revenue growth FY18 ✓ Regional 4.5% revenue growth FY18 Radio consumption is expanding ✓ Radio portability on the rise (home, car, work, mobile) Smart Speakers - opportunity to grow audiences and engagement - in-home penetration in Australia is ~8% (20% in US) 1 SOUTHERN CROSS AUSTEREO 27 absolutely engaging
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