Nexstar's FCF and Capital Allocation
a
THE HILL
SENATE
bood
network
Nexstar ESG Principles and Actions
Ranked as #1 Best ESG for MidCap Media Companies in the Institutional Investor 2023 Survey
and Awarded an ESG rating of "Low Risk" by Morningstar Sustainanalytics
Key
Principles
Environmental
Social
•
Limit our impact on the
environment
•
Fact-based, unbiased journalism
•
Community involvement
•
Diversity, equity and inclusion
•
Governance
Maximize shareholder value
Provide opportunities for
Democratscramble for
path forward after actio
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Biden highlig
anti-LGB
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Equality Ar
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from
Selected
Highlights
/Actions
✓ Core business of television
broadcasting already has a
minimal impact on the
environment
✓ Began process of collecting data
to measure our environmental
impact
✓ Plan to establish strategies to
reduce limit our impact in the
future
✓ Validated unbiased content at local level, NewsNation and
The Hill by third party watchdog groups
Community involvement by each of our stations with over
1,675 initiatives each year
✓ Nationwide "Feeding America" partnership
✓ Focus on treating employees fairly, ethically and fostering
positive work environments
-
Company-wide minimum wage above federal and
state requirements
Established the Nexstar Employee Assistance Fund
Broad inclusion of management employees in equity
awards
✓ Dedicated diversity, equity and inclusion programs, hiring
practices and mentorships
-
-
Employees mirror the communities we represent (1)
Above average senior management diversity (2)
Effort to increase diversity through expansive recruiting
efforts, support of diversity groups inside of Nexstar and
mentorship programs
•
shareholders to make their
opinions known
Diversity, equity and inclusion
One of the best performing media
stocks over the last year
✓ Single class of stock (unlike many
public media companies)
✓ Virtually entirely independent
Board of Directors (8 of 9*
directors are independent)
✓ Plan to declassify the Board
✓
Improving Board diversity (2 of 9*
directors are women)
✓ Active and accessible investor
relations function
(1) Nexstar Total: 74% White, 11% African American, 9% Hispanic, 3% Asian, 2% Two or More; National Average: 60% White, 12% African American, 18% Hispanic, 6% Asian, 3% Two or More
(2) Nexstar senior management is 35% women versus C-suite National Average of 26% according to "Women in the Workplace 2022", McKinsey
*Dennis Miller recently resigned as director to become President, The CW Network; The Board of Directors has initiated a search for his replacement.
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