Nexstar Media Group, Inc. (NXST) Corporate Media Kit

2020 Highlights: Capital Markets Transactions / Strategic Operational Alignment • NXST completed two capital market transactions that allowed the Company to eliminate its most expensive debt while extending maturities • NXST and Mission entered into an incremental secured revolving credit facility in an aggregate principal amount of $280 mm , of which $250 mm was allocated to Mission and $30 mm allocated to NXST • NXST completed the offering of $1 bn of 4.75% senior notes due 2028 and used the net proceeds to redeem in full its $900 mm 5.625% senior notes due 2024 and to pay related premiums, accrued and unpaid interest, and fees and expenses, with the remainder available for general corporate purposes • The resulting interest expense savings, combined with the declining borrowings and attractive rate environment, will allow NXST to de-lever while affording the financial flexibility to act on other opportunities to enhance shareholder value • NXST combined Nexstar Broadcasting and Nexstar Digital subsidiaries to drive synergies, create operational efficiencies, reduce expenses and enhance financial results • In October, NXST promoted Tom Carter to President and Chief Operating Officer, while he retains his current responsibilities as Chief Financial Officer • During his 11 year tenure, he has played a major role in executing the Company’s growth plan through the completion and succe ssful integration of accretive acquisitions which have significantly expanded NXST’s free cash flow and operating portfolio while cementing the Company’s po sit ion as the nation’s largest local television broadcaster • In November, NXST combined its two primary operating subsidiaries , merging Nexstar Digital LLC, and Nexstar Broadcasting, Inc. creating a new single operating subsidiary, Nexstar Inc. • New operational structure aligns the Company’s national leadership in local content production with its broadcasting and digi tal management teams to maximize the value of NXST’s media content, national reach and significant consumer digital usage across multiple platforms • NXST will strengthen its focus on distributing content consumers want most, delivered the way they prefer to consume it, which the Company believes will drive near- and long-term operating results and improvements • NXST expects a mid-seven figure expense savings in 2021 as a result of the synergies, efficiencies, and streamlined reporting structure resulting from this realignment 10