E W Scripps : Scripps Virtual Shareholder Meeting Presentation, May 2021

V I R T U A L S H A R E H O L D E R M E E T I N G 2 0 2 1

May 3, 2021

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S A F E H A R B O R D I S C L O S U R E

This document contains certain forward-looking statements related to the company's businesses that are based on management's current expectations. Forward-looking statements are subject to certain risks, trends and uncertainties, including changes in advertising demand and other economic conditions that could cause actual results to differ materially from the expectations expressed in forward-looking statements. Such forward- looking statements are made as of the date of this document and should be evaluated with the understanding of their inherent uncertainty.

Included in this presentation are certain non-GAAP (generally accepted accounting principles) financial measures, in particular adjusted EBITDA and unlevered free cash flow, and are provided as supplements to assist management and the public in their analysis and valuation of the company. These metrics are not formulated in accordance with GAAP, are not meant to replace GAAP financial measures and may differ from other companies' uses or formulations. A reconciliation of non-GAAP financial measures to GAAP measures reported in our financial statements is included in the appendix.

A detailed discussion of principal risks and uncertainties, including those engendered by the COVID-19 pandemic, that may cause actual results and events to differ materially from such forward-looking statements is included in the company's form 10-K on file with the SEC, in the section titled "risk factors." The company undertakes no obligation to publicly update any forward-looking statements to reflect events or circumstances after the date such statements are made.

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SINCE 2017,

OUR TEAM

HAS METHODICALLY EXECUTED

A PLAN THAT HAS IMPROVED OUR FINANCIAL PERFORMANCE AND SET-UPLONG-TERM GROWTH …

WE HAVE:

Reduced company costs by $30 million

Restructured and reorganized the company for greater efficiency and effectiveness

More than doubled the size of our local television station portfolio to improve short-term operating performance and to capture more retransmission and political revenue

Grew and then divested of assets for excellent ROI

Acquired the fifth-rated national broadcast network, ION, to create a full-scale national networks business that creates more than $500 million in synergies

Improved margins through prudent expense management

Positioned the company for greater free cash flow generation and continued growth

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• AND OUR RESULTS DEMONSTRATE THE BENEFITS TO SHAREHOLDERS
• • Total shareholder return over last three years is 78%
  • Year-to-datestock price up 50% compared to S&P 500 up 11%
  • Year-to-datestock price up 50% versus local TV peers up 26%
  • Adjusted EBITDA more than doubled from 2016-2017 to 2019-2020
  • Met or exceeded guidance for nine consecutive quarters prior to the pandemic

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Based on Scripps' closing stock price of $22.99 on April 23, 2021

HERE ARE A FEW RECENT BUSINESS HIGHLIGHTS

• On Jan. 7, Scripps closed on the acquisition of the ION national television network and has combined it with the five Katz networks and Newsy to create the Scripps Networks division. The new national networks portfolio comes together to offer advertisers a large nationwide audience of media consumers who include free over-the-air television in their self-made viewing bundles.
• On March 31, Scripps closed on the sale of Triton. iHeart Media purchased Triton for $230 million, representing 1.6 times cash-on-cash return for Scripps.
• On April 15, Scripps announced its plans to redeem all $400 million in aggregate principal of its outstanding 2025 senior notes, underscoring Scripps' priority to reduce its debt.
• The new Scripps Networks are gaining traction in the upfront season, attracting new advertisers, and also have seen strong demand and rate growth in direct response advertising.
• Local Media core advertising momentum continued after Election Day last fall, most recently fueled by the reopening of local economies as Americans get vaccinated and by distribution of federal stimulus dollars.

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