Financial Data and Key Metrics Changes - Consolidated revenue for Q3 2020 decreased 31.5% year-over-year to $448 million, with a 33.1% decline when adjusted for foreign exchange [32] - Consolidated net loss improved to $136 million from $212 million in Q3 2019 [32] - Adjusted EBITDA was $31 million, down 78.4%, and down 78.9% when excluding foreign exchange [32] Business Line Data and Key Metrics Changes - Americas revenue was down 31.8% to $224 million, an improvement from a 39% decline in Q2 [33] - Local revenue, which accounted for 64% of total revenue, was down 27.6%, while national revenue, making up 36%, was down 38.2% [34] - Digital revenue accounted for 30% of total revenue in the Americas, down 34.8%, compared to a 53.7% decline in Q2 [34] - Europe revenue was down 13.4%, with a 17.9% decline when excluding foreign exchange, a significant improvement from the 62% decline in Q2 [36] Market Data and Key Metrics Changes - In Europe, digital revenue accounted for 30% of total revenue, down 16.6% excluding foreign exchange [36] - The UK business saw about 80% of revenue from roadside inventory, with customer booking activity exceeding prior year levels until recent restrictions [17][26] - Latin America revenue was $7 million, down $15 million from the prior year, reflecting a delayed impact from COVID-19 [40] Company Strategy and Development Direction - The company won a significant contract for advertising rights in New York and New Jersey airports, expected to enhance long-term growth opportunities [11][23] - Continued investment in digital screens and technology is a key focus, with 19 new digital billboards added in the US and 383 in Europe [21][28] - The company is shifting from a defensive to an offensive strategy, focusing on selling creative ideas rather than specific locations [19] Management's Comments on Operating Environment and Future Outlook - Management expects slight sequential improvement in Americas revenue and adjusted EBITDA margin in Q4, but visibility in Europe is limited due to recent restrictions [12][47] - The resilience of the business is evident, with a strong rebound in Europe and improved booking activity in the UK [26][51] - Management remains cautiously optimistic about returning to growth in 2021 despite ongoing uncertainties [52] Other Important Information - The company has taken steps to preserve liquidity, including reducing capital expenditures and negotiating site lease contracts [44][46] - Cash and cash equivalents totaled $845 million as of September 30, 2020, with debt at $5.6 billion [42] Q&A Session Summary Question: Details on the New York airports contract rollout and CapEx increase - The contract is not yet signed, and details are limited, but Newark will be the first priority for build-out, with an expected uptick in CapEx next year [55][56] Question: Insights on cost reductions and cash runway - The $32 million in expected cost savings is structural and permanent, aimed at right-sizing the business for the current environment [58] Question: Outlook for free cash flow in Q4 - Improvement in free cash flow is expected, but volatility remains a concern [60][62] Question: Transition period details for the Port Authority contract - The transition period aims to reduce risk during COVID-19, with ad sales potentially returning to pre-COVID levels in the $60 million to $70 million range [66][69] Question: Differentiation of the RADAR platform - RADAR provides valuable insights for advertisers, which is becoming essential in the industry, though it may become standard over time [70][72] Question: National vs. local advertising outlook - National advertising has pulled back more aggressively, but there are signs of recovery in digital and programmatic advertising [78] Question: Other major transit opportunities - No major transit contracts are currently in process, but smaller opportunities may arise [80]

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 ...