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

Nexstar Media Group, Inc. (Nasdaq: NXST) Overview North America’s largest local media company – Positioned for the ongoing enhancement of shareholder value • Local media and content leader with unrivaled geographic scale, reach, consumption – #1 US television broadcaster with 199 stations in 116 markets and meaningful presence in top 50 DMAs – Owns or provides services to more than one TV station in over half of its 116 total markets • Long- term record of revenue, net income and free cash flow (“FCF”) growth – FY20 net revenue of $4.5 bn, net income of $808.1 mm (including one-time transaction expenses of $44.4 mm), Adjusted EBITDA of $2.0 bn and FCF of $1.3 bn (before one-time transaction expenses) – 1Q21 net revenue of $1.1 bn, net income of $199.2 mm (including one-time transaction expenses of $1.2 mm), Adjusted EBITDA of $572.6 mm and FCF of $484.6 mm (before one-time transaction expenses) • Capital allocation focused on driving shareholder returns – FY20 paid down ~$1.0 bn in debt and returned ~$383 mm to shareholders in the form of share repurchases and dividends – 1Q21 paid down ~$75 mm in debt and returned ~$151 mm to shareholders in the form of share repurchases and dividends • Leading industry consolidator with proven ability to extract value fromM&A activities – Completed highly accretive acquisition of Tribune Media (NYSE: TRCO) for $7.2 bn in 3Q19 • Recurring cash distribution from 31% interest in TV Food Network offsets historical Q1 seasonality • Upsized and overachieved year one synergies of $185 mm – In 2020, NXST closed on the sale / purchase of stations with FOX, netting after tax proceeds of ~$240 mm for debt reduction and corporate purposes – In 2020, completed the accretive acquisitions of WPIX-TV* and digital consumer product recommendations company BestReviews • Disciplined management team with history of operational excellence and strong record of delivering shareholder value – Accretive M&A, growing dividend, opportunistic share repurchases and leverage reduction – Ongoing focus on expense management and capital structure – CEO / CFO placed 1 st in the 2018, 2019 and 2020 Institutional Investor All America Executive Team survey for the TMT sectors – Over the last five years, NXST share price performance has significantly outpaced our peer group, the Dow Jones, S&P 500 and Russell 3000 indices 3 *Purchased by Mission Broadcasting.