Gannett : Quarterly Supplement Q1 2021

Q1 2021 Earnings

May 7, 2021

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Disclaimer and Notes

In General. This disclaimer applies to this document and the verbal or written comments of any person presenting it. This document, taken together with any such verbal or written comments, is referred to herein as the "Presentation." Prior to November 19, 2019, our corporate name was New Media Investment Group Inc. ("New Media" or "Legacy New Media"), and Gannett Co., Inc. ("Legacy Gannett") was a separate publicly traded company. On November 19, 2019, New Media acquired Legacy Gannett (the "Acquisition"). In connection with the Acquisition, Legacy Gannett became a wholly owned subsidiary of New Media, and New

Media's name was changed to Gannett Co., Inc. (also referred to as "Gannett," "we," "us," "our" or the "Company").

Cautionary Statement Regarding Forward-LookingStatements. Certain statements in this Presentation may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding our operating priorities, our ability to grow Adjusted EBITDA, measures expected to result in annualized cash interest savings, our ability to achieve our operating priorities, our digital revenue performance, shifts in our revenue mix and the timing of realizing such shifts, the potential sales of non-core assets, including the anticipated use of any proceeds from such sales, integration of our acquisitions, our ability, in terms of both amount and timing, to surpass $300 million of annualized synergies, our expectations, in terms of both amount and timing, with respect to debt repayment, real estate sales and debt refinancing, growth of and demand for our digital-only subscriptions and digital marketing and advertising services, our strategy, and future revenue trends, and our ability to influence trends. These statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties, which could cause actual results to differ materially from

those described in the forward-looking statements. Many of these risks and uncertainties are beyond our control. The Company can give no assurance its

expectations will be attained. Accordingly, you should not place undue reliance on any forward-looking statements contained in this Presentation. For a discussion of some of the risks and important factors that could cause actual results to differ from such forward-looking statements, see the risks and other factors detailed from time to time in the Company's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and other filings with the Securities and Exchange Commission. Furthermore, new risks and uncertainties emerge from time to time, and it is not possible for the Company to predict or assess the impact of every factor that may

cause its actual results to differ from those contained in any forward-looking statements. Such forward-looking statements speak only as of the date of this

Presentation. The Company expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with regard thereto or change in events, conditions or circumstances on which any statement is based, except as required by law.

Past Performance. In all cases where historical performance is presented, please note that past performance is not a reliable indicator of future results and should

not be relied upon as the basis for making an investment decision. This Presentation is not an offer to sell, nor a solicitation of an offer to buy any securities. Non-GAAPMeasures. This Presentation includes non-GAAP measures, such as Adjusted EBITDA, Adjusted EBITDA Margin, Free Cash Flow and same store revenue. Year-over-year same store revenue changes are calculated based on GAAP revenue for Gannett for the current period, excluding (1) exited operations,

1. currency impacts, and (3) deferred revenue impacts related to the Acquisition. See the "Appendix" in this presentation for information regarding these non- GAAP measures, including reconciliations to the most directly comparable GAAP financial measure.

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Gannett is a subscription-led and digitally focused media and marketing

solutions company committed to empowering communities to thrive.

Our strategy is focused on driving audience growth and engagement by delivering deeper content experiences to our consumers, while offering the products and marketing expertise our business partners desire.

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Key Operating Pillars

strong opportunity for creating stakeholder value

Accelerate digital subscriber growth

Expect to reach 10 million digital-only subscriptions in the next 5 years, inclusive of new offerings tailored to specific users

Anchored on high- quality, original, impactful journalism and premium content experiences

Drive digital

marketing services

(DMS) growth

Significant digital scale

Leverage integrated sales structure and lead generation strategy to grow client base

Data and insights inform new and dynamic marketing products and services

Optimize traditional		Prioritize investments
print business		in growth businesses

Optimizing our pricing		Identify, test, and
and improving		invest in opportunities
customer service for		for growth
our print subscribers		Examples include:
Print advertising	−	USA TODAY
continues to offer a		NETWORK Ventures
compelling branding		(Events +
opportunity across our		Promotions)
U.S. and U.K.	−	Reviewed.com
operations
−	USA TODAY Sports
		Media Group
	−	Online sports betting
		/ gaming

Build on inclusive &

diverse culture

Progress toward stated 2025 workforce diversity goals

Align our culture around empowering our communities to thrive and putting our customers at the center of everything we do

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Topline Stats: Community Engagement

local reach across U.S. and U.K.(1)

144M

5.5B

369M

38K+

13.0M

Average Monthly	Total Pageviews	Total Video Views	Event Attendees	U.S. Daily & U.K.
Audience (UVs)		(on platform)		Weekly Print
				Readership

1. For the quarter ending March 31, 2021.

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