Investor Presentation INVESTOR PRESENTATION March 2026 FORWARD-LOOKING STATEMENTS AND NON-GAAP FINANCIAL MEASURES This presentation contains, and our other communications may contain, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements can be identified by the fact that they do not relate strictly to historical or current facts. Forward-looking statements, written, oral or ...

Core Insights - Townsquare Media's Digital business accounted for 55% of total net revenue and 56% of total segment profit in 2025, demonstrating the effectiveness of its Digital First Local Media strategy [2][4] - The company reported a net revenue decrease of 5.2% year-over-year for 2025, with a total net revenue of $427.4 million, and a net loss of $9.8 million, an improvement from a net loss of $10.9 million in 2024 [2][15][17] - Adjusted EBITDA for 2025 decreased by 12.2% to $88.1 million, while the company maintained constant adjusted EBITDA margins year-over-year despite revenue declines [2][18] Financial Performance - In Q4 2025, net revenue decreased by 9.6% to $106.5 million compared to Q4 2024, with Broadcast Advertising revenue down 17.8% [10][11] - For the full year 2025, Broadcast Advertising revenue decreased by 12.6%, while Digital Advertising revenue increased by 1.6% [15][16] - The company generated $30.6 million in cash flow from operations in 2025, despite higher interest expenses, and repaid $22.6 million of debt [2][17] Segment Analysis - The Digital Advertising segment, branded as Townsquare Ignite, saw a 1.6% increase in revenue year-over-year, while Subscription Digital Marketing Solutions revenue decreased by 0.7% [10][15][39] - Townsquare Interactive, part of the Subscription Digital Marketing Solutions segment, achieved a segment profit growth of 17.4% year-over-year, marking the highest segment profit margin in its history at 34% [2][11] Future Outlook - For Q1 2026, net revenue is projected to be between $96 million and $98 million, with Adjusted EBITDA expected between $16 million and $17 million [9] - The company anticipates full-year 2026 net revenue to be between $420 million and $440 million, with Adjusted EBITDA expected between $87 million and $93 million [9] Dividend Information - The Board of Directors approved a quarterly cash dividend of $0.20 per share, reflecting an approximate 11% dividend yield based on the last closing price [3]

Core Viewpoint - Townsquare Media, Inc. is set to release its fourth quarter 2025 financial results on March 16, 2026, and will participate in an upcoming investor conference on February 4, 2026 [1][2][5]. Financial Results Announcement - The fourth quarter 2025 financial results will be disclosed before the market opens on March 16, 2026 [2]. - A conference call to discuss these results will take place on the same day at 8:00 a.m. Eastern Time [2]. Conference Call Details - The dial-in number for the conference call is 1-800-717-1738 for U.S. and Canada, and 1-646-307-1865 for international participants, with the conference ID being "Townsquare" [3]. - A telephone replay of the conference call will be available until March 23, 2026, with specific numbers provided for access [4]. Investor Conference Participation - Townsquare Media will present at Noble Capital Markets' Emerging Growth Virtual Equity Conference on February 4, 2026, at 10:30 AM Eastern Time [5]. - The presentation will include a Q&A session, and registered investors can schedule one-on-one meetings with management [5][6]. Digital Marketing and Media Operations - Townsquare Media focuses on community-driven digital and broadcast media, primarily outside the top 50 U.S. markets [8]. - The company operates Townsquare Ignite, a digital advertising division that utilizes proprietary technology and a portfolio of over 400 local news and entertainment websites [8]. - Townsquare Interactive offers subscription-based digital marketing services to small and medium-sized businesses, including website design and search engine optimization [8].

Group 1 - Townsquare Media, Inc. will participate in Noble Capital Markets' Twenty First Annual Emerging Growth Equity Conference on December 3, 2025, at 1:30 PM Eastern Time [1] - Interested investors can attend the conference at a discounted rate using the code TSQNOBLECON [2] - A high-definition video webcast of the presentation will be available the following day on Townsquare's investor relations page and will be archived for 90 days [3] Group 2 - Townsquare Media is a community-focused digital and broadcast media and digital marketing solutions company, primarily targeting markets outside the top 50 in the U.S. [4] - The company operates Townsquare Ignite, a digital advertising division that utilizes proprietary technology and a portfolio of over 400 local news and entertainment websites [4] - Townsquare Interactive provides subscription digital marketing services to small and medium-sized businesses, offering a range of digital services including website design and search engine optimization [4] Group 3 - Noble Capital Markets, established in 1984, is a full-service broker-dealer providing investment and advisory services, with a focus on middle-market expertise [5] - Noble has raised billions of dollars for companies and published over 45,000 equity research reports [5] - Channelchek, launched by Noble in 2018, is an investor community dedicated to public emerging growth companies, offering free access to institutional-quality research [6]

Core Insights - Townsquare Media reported a net revenue decrease of 7.4% year-over-year for Q3 2025, with a total net revenue of $106.8 million, meeting previously issued guidance [2][5][9] - The company achieved a Digital net revenue increase of 2.1% year-over-year, representing 55% of total net revenue, and a Digital Segment Profit increase of 3.6% year-over-year [2][5][9] - Townsquare reduced its outstanding debt by $17 million since the February 2025 refinancing, including a $6 million repurchase of Term Loans at a discount [2][11] Financial Performance - Q3 2025 net loss was $5.5 million, a decrease of $16.8 million from a net income of $11.3 million in Q3 2024 [2][11] - Adjusted EBITDA for Q3 2025 decreased 13.5% to $22.0 million, while Adjusted EBITDA excluding political revenue decreased 2.0% to $21.9 million [2][13] - Year-to-date net revenue for 2025 decreased 3.7% to $320.9 million compared to the same period in 2024 [16] Segment Performance - Digital Advertising net revenue decreased 1.5% in Q3 2025, while Subscription Digital Marketing Solutions net revenue decreased 2.3% [5][37] - Broadcast Advertising net revenue decreased 13.8% in Q3 2025, attributed to reduced advertising purchases by clients [9][37] - Townsquare Interactive, part of Subscription Digital Marketing Solutions, reported a Segment Profit growth of 21% year-over-year in Q3 2025 [2][11] Future Guidance - For Q4 2025, net revenue is expected to be between $105 million and $109 million, and Adjusted EBITDA is expected to be between $21.5 million and $23.5 million [8] - For the full year 2025, net revenue is projected to be between $426 million and $430 million, with Adjusted EBITDA expected between $88 million and $90 million [8] Dividend Announcement - The Board of Directors approved a quarterly cash dividend of $0.20 per share, payable on February 2, 2026 [3]

Core Points - Townsquare Media, Inc. will release its third quarter 2025 financial results on November 10, 2025, before the market opens [2] - A conference call to discuss these results will take place on the same day at 8:00 a.m. Eastern Time [2][3] - The company will also participate in Noble Capital Markets' Emerging Growth Virtual Equity Conference on October 8, 2025, at 2:30 PM Eastern Time [5] Company Overview - Townsquare Media is a community-focused digital and broadcast media and digital marketing solutions company, primarily targeting markets outside the top 50 in the U.S. [8] - The company operates Townsquare Ignite, a digital advertising division that utilizes proprietary programmatic advertising technology and a portfolio of over 400 local news and entertainment websites and mobile apps [8] - Townsquare Interactive provides subscription digital marketing services to small and medium-sized businesses (SMBs), offering a SAAS business management platform, website design, and search engine optimization [8] Investor Relations - Interested parties can access a live webcast of the conference call and the press release on the investor relations page of Townsquare's website [3][4] - A telephone replay of the conference call will be available until November 17, 2025 [4] - For the Noble Capital Markets conference, registration is available at no cost, and qualified investors can arrange one-on-one meetings with management [6]

Company Overview & Strategy - Townsquare is a community-focused digital and broadcast media and digital marketing solutions company, primarily focusing on underserved small and mid-sized local markets outside the Top 50 markets in the U S[12] - The company has transformed into a Digital First Local Media Company, with over 55% of profit and revenue in the first half of 2025 sourced from digital advertising divisions and subscription digital marketing solutions[12] - The company's digital audience is approximately 5 times the size of its terrestrial radio audience[12] Financial Performance & Metrics - As of June 30, 2025, the Last Twelve Months (LTM) net revenue was $447 million and adjusted EBITDA was $101 million[16] - LTM digital net revenue reached $239 million, contributing to 53% of total net revenue and 52% of segment profit[18] - Digital subscription solutions (Townsquare Interactive) accounted for 18% of LTM total revenue and 26% of adjusted EBITDA as of June 30, 2025[18] - The company announced a quarterly dividend of $0 20 per share, representing an approximate 12% dividend yield as of August 5, 2025[17] Digital Segment Details - Digital Advertising segment's LTM net revenue was $162 million with a segment profit of $41 million, representing a 26% profit margin[24,63] - Subscription Digital Marketing Solutions segment's LTM net revenue was $76 million with a segment profit of $23 million[24,69] Broadcast Segment Details - Broadcast Advertising segment's LTM net revenue was $189 million with a segment profit of $49 million, representing a 26% profit margin[27] - The company's AM/FM terrestrial broadcast reaches 50% of adults in its local markets[42]

Core Insights - Townsquare Media, Inc. reported a net revenue of $115.4 million for Q2 2025, a decrease of 2.3% year-over-year, while net income improved to $2.0 million from a loss of $48.9 million in the same period last year [2][5][11] - Digital revenue accounted for 55% of total net revenue and 56% of segment profit in the first half of 2025, with a year-over-year increase of 4.1% [2][5][12] - The company has approved a quarterly cash dividend of $0.20 per share, reflecting a yield of approximately 12% based on the last closing price [3] Financial Performance - Total net revenue for the first half of 2025 decreased by 1.7% to $214.1 million compared to $217.9 million in the same period in 2024 [14] - Adjusted EBITDA for Q2 2025 increased by 0.7% to $26.4 million, while for the first half of 2025, it rose by 1.8% to $44.6 million [13][17] - The company repurchased $10 million of debt in Q2 2025 and $13 million since the refinancing in February 2025 [1][12] Segment Analysis - Digital Advertising segment revenue increased by 2.4% to $42.5 million in Q2 2025, while Subscription Digital Marketing Solutions revenue rose by 1.4% to $18.8 million [9][35] - Broadcast Advertising revenue decreased by 9.2% to $48.7 million in Q2 2025, attributed to reduced advertising purchases by clients [9][12] - Total Digital Segment Profit increased by 4.3% in Q2 2025 compared to the previous year [5][12] Guidance and Future Outlook - For Q3 2025, net revenue is expected to be between $106.5 million and $108.5 million, with Adjusted EBITDA projected between $22.0 million and $23.0 million [8] - For the full year 2025, net revenue is anticipated to be between $435 million and $440 million, with Adjusted EBITDA expected between $90 million and $94 million [8] Capital Structure and Liquidity - As of June 30, 2025, the company had $3.2 million in cash and cash equivalents and $467.1 million in outstanding debt, resulting in a gross leverage ratio of 4.62x [18] - The company has maintained financial flexibility due to strong cash generation and successful refinancing earlier in the year [2][12]

Company Overview - Townsquare Media, Inc. is a community-focused digital and broadcast media and digital marketing solutions company primarily targeting markets outside the top 50 in the U.S. [4] - The company operates Townsquare Ignite, a digital advertising division that utilizes proprietary programmatic advertising technology and a portfolio of over 400 local news and entertainment websites and mobile apps [4] - Townsquare Interactive provides subscription digital marketing services to small and medium-sized businesses (SMBs), offering a SaaS business management platform, website design, SEO, and other digital services [4] Financial Results Announcement - Townsquare Media will release its second quarter 2025 financial results before the market opens on August 6, 2025 [1] - A conference call to discuss the financial results will take place on the same day at 8:00 a.m. Eastern Time [1] - The conference call can be accessed via a dial-in number and will also be available as a live webcast on the company's investor relations page [2] Conference Call Details - The dial-in number for the conference call is 1-800-717-1738 for U.S. and Canada, and 1-646-307-1865 for international participants [2] - A telephone replay of the conference call will be available until August 13, 2025, with specific numbers provided for access [3] - A web-based archive of the conference call will also be accessible on the investor relations page of the company's website [3]

Company Overview - Townsquare is a community-focused digital and broadcast media and digital marketing solutions company, primarily operating outside the top 50 US markets[8, 12] - The company has transformed into a Digital First Local Media Company, with over 50% of profit and revenue from digital advertising divisions and subscription digital marketing solutions[12, 23] - Digital platforms have reached all-time record audience levels, with the digital audience being approximately 5 times the size of the terrestrial radio audience[12] Financial Performance - LTM (Last Twelve Months) as of March 31, 2025, net revenue was $450 million and adjusted EBITDA was $101 million[16] - Digital net revenue for LTM as of March 31, 2025, reached $237 million, contributing to 53% of net revenue and 51% of segment profit[18] - Digital subscription solutions (Townsquare Interactive) accounted for 17% of total revenue and 25% of adjusted EBITDA for LTM as of March 31, 2025[18] - The company announced a quarterly dividend of $020 per share, or $080 on an annualized basis, representing approximately a 12% dividend yield as of May 7, 2025[17] Digital Growth and Strategy - Digital revenue has grown at a compound annual growth rate (CAGR) of 13% year-over-year since 2016[51] - The company's owned and operated digital brands have grown their audience by over 50 times since 2011, reaching approximately 58 million monthly unique visitors[63] - Townsquare Interactive has a total addressable market of approximately 88 million target customers, representing a $32 billion market[72, 77]