Lamar Advertising Company (NASDAQ:LAMR) Q2 2019 Results Earnings Conference Call August 7, 2019 9:00 AM ET Company Participants Sean Reilly - CEO Keith Istre - Treasurer and CFO Conference Call Participants Stephan Bisson - Wolfe Research Alexia Quadrani - JPMorgan Eric Handler - MKM Partners Jason Bazinet - Citi Ben Swinburne - Morgan Stanley Operator Excuse me, everyone. We now have Mr. Sean Reilly and Mr. Keith Istre in conference. Please be aware each of your lines is in listen-only mode. At the conclus ...

Financial Data and Key Metrics Changes - Q1 2019 results showed a pro forma growth of over 2% compared to previous guidance, with expectations for Q2 tracking between 2.5% to 3% pro forma growth [5] - Total assets increased to approximately $5.8 billion from $4.5 billion in Q4 2018, primarily due to the new lease accounting standard [10] - Consolidated organic operating expenses rose by 3.4% in Q1, slightly better than the previously guided 4% [9] Business Line Data and Key Metrics Changes - The same-unit digital revenue grew approximately 5% in Q1, with a total of 3,279 digital units operational [12] - Local advertising increased by 4.1%, while national advertising decreased by 2% in Q1, resulting in a local/national mix of 79% local and 21% national [13] Market Data and Key Metrics Changes - Categories showing strength in Q1 included real estate (up 13%), financials (up 12%), and healthcare (up 9%), while the auto category was down 1.3% [14] Company Strategy and Development Direction - The company anticipates continued acquisition activity throughout the year, with a pipeline expected to approach $250 million to $300 million in assets [22] - The programmatic automated buying initiative is gaining momentum and is expected to contribute to pro forma growth this year [5] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in a stronger second half of the year, supported by a large customer whose spending is expected to shift to later in the year [13] - The company remains cautious about the potential revenue growth from 5G cellular opportunities, indicating it is not a significant driver at this time [25] Other Important Information - The adoption of the new lease accounting standard resulted in a noncash GAAP item that reduced operating expenses by approximately $3.8 million [7] Q&A Session Summary Question: Is the pace of growth significantly stronger or marginally stronger than previous guidance? - Management indicated that the growth feels stronger and is expected to align with last year's performance [17] Question: Are there noticeable differences in performance based on market size? - Management acknowledged slight differences, with larger markets performing in line with competitors, but expects corrections as the year progresses [19] Question: Was there any benefit from political advertising in Q1? - Political advertising was down approximately 60% in Q1 due to it being an odd year [21] Question: How is the acquisition pipeline shaping up for 2019? - The acquisition pipeline looks good, with expectations for assets approaching $250 million to $300 million [22] Question: What is the company's view on the 5G cellular opportunity? - Management remains cautious, stating that while there are some revenues from 5G, it is not a significant contributor at this point [25] Question: What is the current leverage ratio and expectations for the year? - The leverage ratio as of March 31 was 3.7x, with expectations to decrease to around 3.5x by year-end [28]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 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 1-36756 Lamar Advertising Company Commission File Number 1-12407 Lamar Media Corp. (Exact name of registrants as specified in their charters) D ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2018 ☐ 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 1-36756 Lamar Advertising Company Commission File Number 1-12407 Lamar Media Corp. (Exact names of registrants as specified in their charter ...

Lamar Advertising Company (NASDAQ:LAMR) Q4 2018 Earnings Conference Call February 20, 2019 9:00 AM ET Company Participants Sean Reilly - Chief Executive Officer Keith Istre - Treasurer and Chief Financial Officer Conference Call Participants David Miller - Imperial Capital Alexia Quadrani - JPMorgan Marci Ryvicker - Wolfe Research Eric Handler - MKM Partners Jason Bazinet - Citi Ben Swinburne - Morgan Stanley Drew Borst - Goldman Sachs George Smith - Devonport Asset Management Operator Excuse me, everyone. ...