Second Quarter 2025 Investor Presentation August 11, 2025 NASDAQ: IHRT 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 iHeartMedia, Inc. and its subsidiaries (the "Company"), to be materially d ...

Q1 2025 Consolidated Results - Q1 Revenue reached $807 million, a 10% increase year-over-year; excluding political revenue, the increase was 18%[10] - Consolidated Adjusted EBITDA remained flat at $105 million compared to Q1 2024[10] - The company's cash balance and total available liquidity stood at $168 million and $559 million, respectively, as of March 31, 2025[10] - Free Cash Flow was $(81) million[10] Digital Audio Group Results - Digital Audio Group Revenue increased by 16% to $277 million[10] - Podcast Revenue grew by 28% to $116 million[10] - Digital Revenue excluding Podcast increased by 9% to $161 million[10] - Digital Audio Group Adjusted EBITDA margin was 314%[10] Multiplatform Group Results - Multiplatform Group Revenue decreased by 4% to $473 million; excluding political revenue, the decrease was 3%[10] - Multiplatform Group Adjusted EBITDA margin was 148%[10] Modernization Program - The company is on track with its modernization program, expecting $150 million in net savings in 2025, primarily driven by technology and AI[28]

Financial Performance - Q4 2024 revenue reached $1,118 million, a 4.8% increase, but excluding political revenue, it decreased by 1.8%[10] - Consolidated Adjusted EBITDA for Q4 2024 was $246 million, up 18.2% from $208 million in Q4 2023[10] - Full year 2025 consolidated revenue is expected to be approximately flat, while Adjusted EBITDA is projected to be around $770 million[10] - Free cash flow was negative $(24) million, but excluding Debt Exchange Transaction impacts, it was $111 million[10] - Full year 2024 revenue was $3,854.5 million, a 2.8% increase from $3,751.0 million in 2023[48] - Full year 2024 Adjusted EBITDA was $705.6 million, a 1.3% increase from $696.6 million in 2023[48] Segment Performance - Digital Audio Group revenue increased by 7% to $339 million, with podcast revenue up 6% to $140 million and digital revenue excluding podcast up 7% to $199 million[10] - Multiplatform Group revenue remained flat at $684 million, but excluding political revenue, it decreased by 5%[10] - Audio & Media Services Group revenue increased significantly by 44.7% to $97.8 million[12] Debt and Liquidity - The company completed a debt exchange transaction, exchanging approximately $4.8 billion of existing debt and extending maturities by three years[10] - The debt exchange resulted in the lowest net debt in the company's history[10] - Cash balance and total available liquidity were $260 million and $686 million, respectively, as of December 31, 2024[10]