Investor Presentaiton

2020: Record Financial Results NXST Generated Record 2020 Financial Results NXST 2020 Financial Results Y/Y and Political Even-Year Comparison 1,2 12M Ended Dec. 31 12M Change (%) (in millions) 2020 2019 Net Revenue $4,501.3 $3,039.3 2018 $2,766.7 '20 vs. '19 '20 vs. '18 +48.1% Net Income $808.1 $236.3 $388.3 +242.0% +62.7% +108.1% Adjusted EBITDA (Before 1x Transaction Exp.) $1,995.6 $972.3 $1,031.9 +105.3% +93.4% Adjusted EBITDA $1,951.2 $898.1 $1,023.4 +117.2% +90.7% Free Cash Flow (Before 1x Transaction Exp.) Free Cash Flow $1,304.6 $520.9 $692.7 $1,280.1 $439.5 $684.2 +150.5% +191.3% +88.3% +87.1% $ millions Television Advertising Revenue Core +49.9% Political NXST 2020 Revenue Growth Distribution, Digital & Other Revenue Distribution Digital +46.6% ■ NXST generated record net revenue, Adjusted EBITDA and free cash flow in 2020 Though guidance was suspended, NXST full year 2020 free cash flow was ultimately in line with pre- pandemic expectations ■ NXST lowered YE20 total net leverage to 3.6x, in line with previously stated goal of reaching high 3.0x by YE20 ■ Other $2,423 $223 Other 1% $47 Retrans & Digital 53% $2,079 $1,652 $1,387 $508 $42 $52 $242 $2,153 $1,335 FY19 $1,571 FY20 $1,369 FY19 For a reconciliation of non-GAAP financial measurements, please see the supplemental tables at the end of Nexstar's second quarter financial results press release dated February 23, 2021 For detailed disclosure, please see Company's Annual Report on Form 10-K for the twelve month period ended December 31, 2020 FY20 NXST FY20 Revenue Mix (% of Total Net Revenue) NXST FY20 Net Revenue ~$4.5 Billion Television Advertising 46% 8

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