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

Summary 1Q21 Financial Results 20 Summary 1Q21 Financial Highlights Three Months Ended March 31 ($ in thousands) 2021 2020 Change Core advertising revenue $411,714 $417,379 (1.4)% Political revenue $5,408 $55,341 (90.2)% Total Advertising revenue $417,122 $472,720 (11.8)% Distribution fee revenue $621,235 $549,716 +13.0% Digital revenue $66,390 $56,440 +17.6% Other revenue $9,184 $12,946 (29.1)% Net revenue $1,113,931 $1,091,822 +2.0% Income from operations $284,920 $305,015 (6.6)% Net (loss) income $199,190 $157,694 +26.3% Adjusted EBITDA before one-time transaction expenses $572,575 $565,173 +1.3% Adjusted EBITDA $571,377 $557,736 +2.4% Adjusted EBITDA margin 1 51.3% 51.1% Free cash flow before one-time transaction expenses $484,649 $430,400 +12.6% Free cash flow $483,451 $422,963 +14.3% For a reconciliation of non- GAAP financial measurements, please see the supplemental tables at the end of Nexstar’s second quart er 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