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

Debt / Leverage Analysis 21 TTM ENDED 3M ENDED (in millions) 12/31/16 12/31/17 12/31/18 12/31/19 12/31/20 3/31/21 Revolver $ 2.0 $ 3.0 $ 5.6 $ - $ 327.0 $ 327.0 First Lien Term Loans 662.2 2,791.9 2,407.5 5,860.4 4,559.1 4,483.1 6.875% Sr. Sub Notes 520.7 - - - - - 6.125% Sr. Sub Notes 272.6 273.0 273.4 - - - 5.875% Sr. Sub Notes - 408.1 406.2 - - - 5.625% Sr. Sub Notes 884.9 886.5 888.2 890.0 - - 5.625% Sr. Sub Notes - - - 1,792.1 1,791.0 1,790.8 4.750% Sr. Sub Notes - - - - 990.9 991.2 Total Debt $ 2,342.4 $ 4,362.5 $ 3,980.9 $ 8,492.5 $ 7,668.0 $ 7,592.1 Cash on Hand $ 87.7 $ 115.7 $ 145.1 $ 232.1 $ 152.7 $ 339.8 Reported EBITDA $ 405.5 $ 802.2* $ 1,031.9* $ 972.3* $ 1,995.6* $ 572.6* Compliance EBITDA $ 429.0 $ 842.9 $ 1,101.6 $ 1,608.6 $ 2,119.6 $ 2,612.9 Total Leverage: 3.20x 5.06x 3.69x 5.18x 3.60x 3.40x First Lien Leverage: 1.38x 3.20x 2.07x 3.52x 2.28x 2.14x FCF $ 244.8 $ 528.0* $ 692.7* $ 520.9* $ 1,304.6* $ 483.5* *Before one-time transaction expenses (versus covenant of 4.25x)