2020 Third Quarter Results November 9, 2020 Clear Channel Outdoor Safe Harbor Statement Forward Looking Language Certain statements in this presentation constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Clear Channel Outdoor Holdings, Inc. to be materially different from any future ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-32663 CLEAR CHANNEL OUTDOOR HOLDINGS, INC. (Exact name of registrant as specified in its charter) | --- | --- | --- | |-------- ...

Financial Data and Key Metrics Changes - Consolidated revenue for Q2 2020 decreased 54.9% year-over-year to $315 million, with an adjusted decline of 54.4% when accounting for foreign exchange [43] - Consolidated net loss increased to $143 million from $11 million in Q2 2019, with adjusted EBITDA showing a loss of $63 million compared to a profit of $180 million in the same quarter last year [44] - Cash and cash equivalents totaled $662 million as of June 30, 2020, including $317 million held outside the U.S. [49] Business Line Data and Key Metrics Changes - Americas segment revenue was down 39% year-over-year, while Europe segment revenue decreased 62% after adjusting for foreign exchange [43] - Americas adjusted EBITDA was $47 million, down from $137 million in Q2 2019, while Europe reported an adjusted EBITDA loss of $69 million [45] Market Data and Key Metrics Changes - In the U.S., revenue was down almost 40% in Q2 compared to the previous year, with traffic returning to about 95% of pre-COVID levels [13][18] - In Europe, revenue was down over 6% year-over-year, with a stronger rebound in markets that lifted lockdowns earlier, such as Switzerland [14][20] Company Strategy and Development Direction - The company is focused on preserving liquidity and has targeted cost cuts of over $100 million and capital expenditure savings of $25 million [14] - There is a commitment to enhancing the value of the business and driving shareholder value through strategic actions, including potential asset dispositions [16][64] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about recovery, expecting a revenue decline in the low 30s for Q3, a significant improvement from the 55% decline in Q2 [10][62] - Visibility beyond Q3 remains limited, but there is an expectation of sequential improvement in revenue performance through the remainder of the year [24][62] Other Important Information - The company issued $375 million in senior secured notes to bolster liquidity, with total debt increasing to $5.3 billion [15][50] - The corporate social responsibility initiative remains a priority, emphasizing diversity and inclusion amid the pandemic [37] Q&A Session Summary Question: How are marketers thinking about returning to advertising? - Management noted that the return of audience traffic is crucial for advertisers, with early signs of recovery in Europe leading to increased bookings [66][68] Question: Can you discuss cash flow dynamics and CapEx management? - The company highlighted that working capital shifts positively impacted cash flow, but expects this to reverse as business activity increases [71][73] Question: What is the outlook on cash burn as recovery happens? - Management acknowledged that cash burn is expected to increase as receivables grow with business recovery, but remains focused on maintaining liquidity [77][80] Question: What is the fixed versus variable cost mix? - Management indicated that many cost reductions were temporary, and while some fixed costs remain, there are still variable expenses tied to revenue [85][86] Question: Are there any permanent changes expected in business flow due to remote work? - Management believes it is too early to determine permanent changes, but anticipates a hybrid model of work will emerge post-pandemic [90][92] Question: What is the current environment for M&A? - Management described the M&A environment as challenging, with limited activity and significant valuation concerns [120]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-32663 CLEAR CHANNEL OUTDOOR HOLDINGS, INC. (Exact name of registrant as specified in its charter) Delaware 88-0318078 | --- | --- | ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-32663 CLEAR CHANNEL OUTDOOR HOLDINGS, INC. (Exact name of registrant as specified in its charter) Delaware 88-0318078 | --- | --- | ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2019, OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-32663 CLEAR CHANNEL OUTDOOR HOLDINGS, INC. (Exact name of registrant as specified in its charter) | --- | --- | --- | |-------------------------- ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2019 [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001‑32663 CLEAR CHANNEL OUTDOOR HOLDINGS, INC. (Exact name of registrant as specified in its charter) Chann (State or other jur ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Common Stock, $0.01 par value per share "CCO" New York Stock Exchange FORM 10-Q (Mark One) [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2019 [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001‑32663 CLEAR CHANNEL OUTDOOR HOLDINGS, INC. (Exact name of ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2019 [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001‑32663 CLEAR CHANNEL OUTDOOR HOLDINGS, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K [X] Annual report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2018, or [ ] Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from ________ to _________. Commission File Number 001-32663 CLEAR CHANNEL OUTDOOR HOLDINGS, INC. (Exact name of registrant as specified in its charter) (State or other juris ...