TDAY

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USA TODAY Co. Announces Third Quarter Results, $100 Million Cost Reduction Program

& Plans to Opportunistically Repurchase Shares

NEW YORK, NY — November 5, 2026 — USA TODAY Co., Inc. ("USA TODAY Co.", "we", "us", "our", or the "Company") (NYSE: TDAY) today reported its financial results for the third quarter ended September 30, 2026.

"In the third quarter, we felt the impacts of the changes in consumer search along with some inflationary pressures. At the same time, we saw encouraging underlying signals in the categories that we believe are most important to our future. Audience trends showed signs of stabilization, engagement strengthened across our platforms, and we continued to grow the digital revenue categories that are central to our strategy, including direct-sold digital advertising, digital-only subscriptions, and digital other," said Michael Reed, Chairman and Chief Executive Officer.

"At the end of the third quarter, we implemented our new $100 million annualized cost reduction program, establishing a lower cost structure that is already benefiting our fourth-quarter run rate. Together with the positive momentum across our digital portfolio, we expect these improvements to drive significant sequential growth in Adjusted EBITDA and free cash flow, as well as substantial margin expansion in the fourth quarter. Moving forward, we will continue to pursue additional opportunities to lower our cost structure."

"Our Ad Tech litigation continues to advance, and we had some nice developments in the third quarter. Google's motion for summary judgment was recently denied, and our trial date has been set for April 5, 2027. The court's ruling also made public our damages calculation, which totaled $901 million through 2024. We expect to update that calculation ahead of trial to reflect additional damages incurred since then. Importantly, the $901 million does not include the potential for treble damages. We look forward to April 5th."

"We believe our current market valuation does not fully reflect the underlying value of our business or its long-term potential. We have $96.9 million available under our authorized Stock Repurchase Program and plan to be opportunistic with share repurchases in the fourth quarter."

Third Quarter 2026 Financial Highlights:

•Total revenues of $519.2 million decreased 7.4% year-over-year

◦Same store revenues(1) decreased 5.8% year-over-year, reflecting a sequential improvement of 30 basis points compared to the second quarter of 2026

•Total digital revenues of $249.3 million, or 48.0% of total revenues

•Net loss attributable to USA TODAY Co. of $4.6 million

•Total Adjusted EBITDA(1) of $36.6 million

•Cash provided by operating activities of $16.7 million

•Free cash flow(1) of $4.3 million

Third Quarter 2026 Digital Highlights:

•161 million average monthly unique visitors(2), which increased from 158 million average monthly unique visitors(3) in the second quarter of 2026

•Digital advertising revenues of $75.0 million

(1) Total Adjusted EBITDA, Segment Adjusted EBITDA, Total Adjusted EBITDA margin, Adjusted net income (loss) attributable to USA TODAY Co., Free cash flow, and Same store revenues are non-GAAP measures. See "Use of Non-GAAP Information" below for information about these non-GAAP measures.

(2) 161 million average monthly unique visitors in the third quarter of 2026 with approximately 108 million average monthly unique visitors coming from our U.S. media network, which includes USA TODAY (as measured by © 2026 Comscore, Media Metrix (September 2026), Desktop + Mobile) and approximately 53 million average monthly unique visitors resulting from our U.K. digital properties (based on Adobe Analytics).

(3) 158 million average monthly unique visitors in the second quarter of 2026 with approximately 107 million average monthly unique visitors coming from our U.S. media network, which includes USA TODAY (as measured by © 2026 Comscore, Media Metrix (June 2026), Desktop + Mobile) and approximately 51 million average monthly unique visitors resulting from our U.K. digital properties (based on Adobe Analytics).

•Digital-only subscription revenues of $46.0 million, representing the third consecutive quarter of year-over-year growth

◦Record high digital-only average revenue per user(4) of $10.82, an increase of 23% year-over-year

•LocaliQ segment core platform revenues(4) of $105.4 million

◦Record high core platform average revenue per user(4) of $2,996, an increase of 6% year-over-year

Third Quarter 2026 Capital Structure Highlights:

•Cash and cash equivalents of $68.2 million as of September 30, 2026

•Total debt principal outstanding at September 30, 2026 was $952.9 million, including $705.1 million in first lien debt

•First lien net leverage(5) was 2.5x, a decrease of 8.2% year-over-year

•The Company received a waiver from certain lenders of its $900.0 million five-year first lien term loan f

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USA TODAY Co. Announces Second Quarter Results & Reiterates Business Outlook

NEW YORK, NY — August 6, 2026 — USA TODAY Co., Inc. ("USA TODAY Co.", "we", "us", "our", or the "Company") (NYSE: TDAY) today reported its financial results for the second quarter ended June 30, 2026.

"The second quarter reflected continued progress against our long-term strategy and reinforced our confidence in reaffirming our full-year outlook. We reduced operating expenses by approximately 8% year-over-year, generated approximately $20 million of free cash flow, an increase of approximately 11% year-over-year, and delivered positive net income for the second consecutive quarter," said Michael Reed, Chairman and Chief Executive Officer.

"Our Digital-only subscription and Digital other businesses continued to build momentum and remain important drivers of our long-term growth. Digital-only subscription revenues grew year-over-year for the second consecutive quarter, while digital-only ARPU reached another record high. Digital other revenues also grew year-over-year, and we expect this revenue stream to continue expanding throughout the year as we broaden our portfolio of content licensing partners and further grow our commerce opportunities."

"Consumer discovery continues to evolve beyond traditional search, and we have been preparing for that shift by expanding our reach across social, video and newsletters while strengthening our first-party audience capabilities. Combined with investments in technologies like Palantir, these initiatives are helping us better understand and monetize our audience while building a more diversified and resilient business."

"While quarterly results may fluctuate as we execute our strategy, our long-term business plan remains intact and supports our confidence in reaffirming our full-year outlook. Across the business we continue to see meaningful progress, and we believe are getting close to crossing that revenue inflection point. We believe we are building a strong operating foundation on a large and engaged audience, from which data and signals will drive greatly improved monetization as we leverage that intelligence."

"We are confident in the steps we are taking to position the Company for sustainable long-term revenue growth combined with free cash flow growth and margin expansion, leading to long-term value creation for shareholders."

Second Quarter 2026 Financial Highlights:

•Total revenues of $536.3 million decreased 8.3% year-over-year and decreased 6.1% on a same-store basis(1)

•Total digital revenues of $254.3 million, or 47.4% of total revenues

•Net income attributable to USA TODAY Co. of $9.1 million, reflecting the second consecutive quarter of positive net income

•Total Adjusted EBITDA(1) of $56.9 million

•Cash provided by operating activities of $35.4 million

•Free cash flow(1) of $19.6 million

Second Quarter 2026 Digital Highlights:

•158 million average monthly unique visitors(2)

•Digital advertising revenues of $79.8 million

•Digital-only subscription revenues of $45.6 million, representing the second consecutive quarter of year-over-year growth

•LocaliQ segment core platform revenues(3) of $106.3 million

(1) Total Adjusted EBITDA, Segment Adjusted EBITDA, Total Adjusted EBITDA margin, Adjusted net income (loss) attributable to USA TODAY Co., Free cash flow, and Same store revenues are non-GAAP measures. See "Use of Non-GAAP Information" below for information about these non-GAAP measures.

(2) 158 million average monthly unique visitors in the second quarter of 2026 with approximately 107 million average monthly unique visitors coming from our U.S. media network, which includes USA TODAY (as measured by © 2026 Comscore, Media Metrix (June 2026), Desktop + Mobile) and approximately 51 million average monthly unique visitors resulting from our U.K. digital properties (based on Adobe Analytics).

(3) See "Key Performance Indicators" ("KPI") below for information about our use of KPIs.

◦Key metrics improved sequentially including core platform revenues(3), Segment Adjusted EBITDA(1), core platform average revenue per user(3) and core platform average customer count(3)

Second Quarter 2026 Capital Structure Highlights:

•Cash and cash equivalents of $86.7 million as of June 30, 2026

•Total debt principal outstanding at June 30, 2026 was $970.5 million, including $722.7 million in first lien debt

•First lien net leverage(4) was 2.3x, a decrease of 14% year-over-year

Business Outlook:(5)

The Company reiterates its full year 2026 outlook.

•Full Year 2026 Business Outlook(5)

◦Total revenues are expected to be flat to down in the low single digits on a same store basis(1)

▪Total digital revenues are expected to grow versus the prior year on a same store basis(1) and are expected to make up 50%+ of total revenues during 2026

◦Net income attributable to USA TODAY Co. is expected to grow versus the prior yea

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USA TODAY Co. Announces Fourth Quarter Results & 2026 Business Outlook

NEW YORK, NY — February 26, 2026 — USA TODAY Co., Inc. ("USA TODAY Co.", "we", "us", "our", or the "Company") (NYSE: TDAY) today reported its financial results for the fourth quarter ended December 31, 2025.

"In the fourth quarter, we delivered one of our strongest performances in recent years. Same-store revenue trends achieved their best performance in nearly four years, driven by an expansion of digital revenues, which returned to year-over-year growth on a same-store basis. As a result, total digital revenues surpassed 47% of total revenues, representing an all-time high," said Michael Reed, Chairman and Chief Executive Officer.

"Total Adjusted EBITDA exceeded $90 million, marking our highest quarterly result in four years. We also generated our highest level of free cash flow in over two years."

"During the full year of 2025, we delivered our third consecutive year of free cash flow growth over the prior year, generated positive net income for the first time since our merger in 2019, and signed several AI licensing deals that are expected to be highly accretive to Total Adjusted EBITDA. We also strengthened our balance sheet, evidenced by long-term debt repayment of approximately $136 million in the year, a solid cash position of over $90 million to end the year, and a first lien net leverage of 2.4x, which decreased 11% over the prior year."

"The strength of our results underscores both the traction we have gained and the long-term potential of the strategic initiatives that were advanced in 2025. Importantly, our performance punctuated what we believe was a defining year for the Company, marked by significant milestones and a successful rebrand that fully embraces the ethos of a dynamic media company."

"Overall, we are excited by the progress achieved in 2025 and we look forward to building on this success in 2026."

Fourth Quarter 2025 Financial Highlights:

•Total revenues of $585.0 million decreased 5.8% year-over-year and 3.9% on a same-store basis(1), representing a 290 basis point improvement from the third quarter of 2025, and our best performance since the first quarter of 2022

•Total digital revenues of $277.5 million, 47.4% of total revenues

◦Total digital revenues returned to year-over-year growth on a same store basis(1), and improved sequentially by 410 basis points

•Net loss attributable to USA TODAY Co. of $30.1 million, reflecting a 5.1% net loss margin

•Total Adjusted EBITDA(1) of $91.1 million, an increase of 16.6% year-over-year

◦Total Adjusted EBITDA margin(1) of 15.6% improved 300 basis points compared to Total Adjusted EBITDA margin(1) of 12.6% in the fourth quarter of 2024

•Cash provided by operating activities of $43.4 million, an increase of 382.4% year-over year

•Free cash flow(1) of $31.5 million, an increase of 722.3% year-over-year

Fourth Quarter 2025 Digital Highlights:

•179 million average monthly unique visitors(2)

•Digital advertising revenues of $94.4 million, an increase of 1.8% versus the prior year period, representing the third consecutive quarter of year-over-year growth

•Digital-only subscription revenues of $45.6 million

(1) Total Adjusted EBITDA, Total Adjusted EBITDA margin, Adjusted net income (loss) attributable to USA TODAY Co., Free cash flow, and Same store revenues are non-GAAP measures. See "Use of Non-GAAP Information" below for information about these non-GAAP measures.

(2) 179 million average monthly unique visitors in the fourth quarter of 2025 with approximately 125 million average monthly unique visitors coming from our U.S. media network, which includes USA TODAY (as measured by © 2025 Comscore, Media Metrix (December 2025), Desktop + Mobile) and approximately 54 million average monthly unique visitors resulting from our U.K. digital properties (based on Adobe Analytics).

◦Digital-only subscription revenues recorded its second consecutive quarter of sequential growth

•Digital Marketing Solutions segment core platform revenues(3) of $107.3 million

Fourth Quarter 2025 Capital Structure Highlights:

•Cash and cash equivalents of $90.2 million as of December 31, 2025

•Total debt principal outstanding at December 31, 2025 was $977.3 million, including $729.5 million in first lien debt

•First lien net leverage(4) was 2.4x, a decrease of 10.7% year-over-year

•Repaid $19.1 million of debt

•Subsequent to the fourth quarter of 2025, the Company completed the transfer of The Detroit News from MediaNews Group (the "Detroit News Transaction"). Financing for the Detroit News Transaction was funded partially with cash on the balance sheet, and in part with incremental debt financing under our 2029 Term Loan Facility in an aggregate principal amount equal to $15.0 million from funds managed by affiliates of Apollo Global Management Inc.  As part of the financing, certain terms of our 2029 Term Loan Facilit

gci-20250731

0001579684false00015796842025-07-312025-07-31

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported):

July 31, 2025

GANNETT CO., INC.

(Exact name of registrant as specified in its charter)

Delaware001-3609738-3910250

(State or Other Jurisdiction of Incorporation or Organization)(Commission File Number) (I.R.S. Employer Identification No.)

175 Sully's Trail, Suite 203, Pittsford,New York14534-4560

(Address of principal executive offices)(Zip Code)

(585) 598-0030Not Applicable

(Registrant's telephone number, including area code)(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of Each ClassTrading SymbolName of Each Exchange on Which Registered

Common Stock, par value $0.01 per shareGCINew York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 2.02 Results of Operations and Financial Condition.

On July 31, 2025, Gannett Co., Inc. (the "Company") issued a press release announcing its financial results for the second quarter ended June 30, 2025. A copy of the press release is furnished herewith as Exhibit 99.1.

The information furnished pursuant to this Current Report on Form 8-K (including the exhibit hereto) shall not be considered "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be incorporated by reference into any filing by the Company under the Securities Act of 1933, as amended, or under the Securities Exchange Act of 1934, as amended, unless the Company expressly sets forth by specific reference in such filing that such information is to be considered "filed" or incorporated by reference therein.

Use of Website to Distribute Material Company Information

The Company's website is www.gannett.com. Information contained on the Company's website is not part of this Current Report on Form 8-K. The Company uses its website as a distribution channel for material company information. Financial and other important information regarding the Company is routinely posted on and accessible on the Investor Relations and News and Events subpages of the Company's website, which are accessible by clicking on the tab labeled "Investor Relations" and "News and Events", respectively, on the website home page. Therefore, investors should look to the Investor Relations, and News and Events subpages of the Company's website for important and time-critical information.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.Description

99.1 Gannett Co., Inc. Earnings Press Release dated July 31, 2025

104Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document)

SIGNATURE

Pursuant to requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Gannett Co., Inc.

Date: July 31, 2025 By: /s/ Trisha Gosser

Trisha Gosser

Chief Financial Officer (principal financial officer)

gci-20250220

0001579684false00015796842025-02-202025-02-20

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported):

February 20, 2025

GANNETT CO., INC.

(Exact name of registrant as specified in its charter)

Delaware001-3609738-3910250

(State or Other Jurisdiction of Incorporation or Organization)(Commission File Number) (I.R.S. Employer Identification No.)

175 Sully's Trail, Suite 203, Pittsford,New York14534-4560

(Address of principal executive offices)(Zip Code)

(585) 598-0030Not Applicable

(Registrant's telephone number, including area code)(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of Each ClassTrading SymbolName of Each Exchange on Which Registered

Common Stock, par value $0.01 per shareGCINew York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 2.02 Results of Operations and Financial Condition.

On February 20, 2025, Gannett Co., Inc. (the "Company") issued a press release announcing its financial results for the fourth quarter ended December 31, 2024. A copy of the press release is furnished herewith as Exhibit 99.1.

The information furnished pursuant to this Current Report on Form 8-K (including the exhibit hereto) shall not be considered "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be incorporated by reference into any filing by the Company under the Securities Act of 1933, as amended, or under the Securities Exchange Act of 1934, as amended, unless the Company expressly sets forth by specific reference in such filing that such information is to be considered "filed" or incorporated by reference therein.

Use of Website to Distribute Material Company Information

The Company's website is www.gannett.com. Information contained on the Company's website is not part of this Current Report on Form 8-K. The Company uses its website as a distribution channel for material company information. Financial and other important information regarding the Company is routinely posted on and accessible on the Investor Relations and News and Events subpages of the Company's website, which are accessible by clicking on the tab labeled "Investor Relations" and "News and Events", respectively, on the website home page. Therefore, investors should look to the Investor Relations, and News and Events subpages of the Company's website for important and time-critical information.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.Description

99.1 Gannett Co., Inc. Earnings Press Release dated February 20, 2025

104Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document)

SIGNATURE

Pursuant to requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Gannett Co., Inc.

Date: February 20, 2025 By:/s/ Douglas E. Horne

Douglas E. Horne

Chief Financial Officer (principal financial officer)

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Gannett Announces First Quarter 2024 Results and Reiterates Business Outlook

NEW YORK, NY — May 2, 2024 — Gannett Co., Inc. ("Gannett", "we", "us", "our", or the "Company") (NYSE: GCI) today reported its financial results for the first quarter ended March 31, 2024.

"Our first quarter results reflect an excellent start to the year. Year-over-year revenue trends were a bright spot in the quarter, reflecting the most pronounced sequential improvement in nearly three years. This top line momentum gives us confidence in our belief that we'll exit 2024 with total revenues growing over the prior year. Equally important, we continued to expand our audience, improve engagement, and grow digital revenues through diversified channels. As a result, total digital revenues increased 8% year-over-year and accounted for over 42% of total revenues, representing an all-time high," said Michael Reed, Gannett Chairman and Chief Executive Officer.

"We continued to execute on our expanded monetization strategy, and in the first quarter, each of our digital revenue streams grew over the prior year period. Digital-only subscription revenues and average revenue per user reached new highs, with growth rates exceeding 20% compared to the prior year period. Digital advertising continued to grow year-over-year, and as expected, our digital marketing solutions business returned to growth versus the prior year period. Finally, our partnership revenue continues to scale, nearly doubling over the prior year period."

"We drove free cash flow growth over the prior year period, along with improved sequential year-over-year trends in Adjusted EBITDA, which we believe positions us well for full year Adjusted EBITDA and free cash flow growth as outlined in our business outlook."

First Quarter 2024 Digital Highlights:

•Total digital revenues of $267.5 million, or 42.1% of total revenues, up 8.1% versus the same period of the prior year

•Digital-only subscription revenues of $43.5 million grew 21.3% year-over-year

•Digital-only average revenue per user(1) of $7.22 increased 22.4% year-over-year

•Total digital-only paid subscriptions(1) surpassed 2.0 million, representing sequential growth of 1.1%

•187 million(2) global average monthly unique visitors in the first quarter of 2024, up 0.6% year-over-year

•Digital advertising revenues of $84.5 million grew 5.3% year-over-year

•Digital Marketing Solutions segment core platform revenues(1) of $116.1 million increased 4.2% year-over year

◦Record high core platform average revenue per user(1) of $2,697, up 6.4% year-over-year

Additional First Quarter 2024 Highlights:

•Total revenues of $635.8 million decreased 5.0% compared to the first quarter of 2023, reflecting improvement on revenue declines of 8.4% in the fourth quarter of 2023 compared to the prior year fourth quarter

◦Same store revenues(3) decreased 5.1% compared to the first quarter of 2023, reflecting improvement on revenue declines of 8.0% in the fourth quarter of 2023 compared to the prior year fourth quarter

•Net loss attributable to Gannett of $84.8 million includes an impairment charge of approximately $46.0 million related to the exit of our leased facility in McLean, Virginia during the first quarter of 2024

◦Adjusted Net loss attributable to Gannett(3) of $36.4 million

•Adjusted EBITDA(3) totaled $57.6 million, a decrease of 8.4% compared to the first quarter of 2023

•Cash provided by operating activities of $22.5 million, an increase of $15.7 million year-over-year

•Free cash flow(3) of $9.5 million, an improvement of $11.5 million year-over-year

(1) See "Key Performance Indicators" ("KPIs") below for information about our use of KPIs.

(2) 187 million average monthly unique visitors in the first quarter of 2024 with approximately 134 million average monthly unique visitors coming from our USA TODAY NETWORK (based on March 2024 Comscore Media Metrix®) and approximately 53 million average monthly unique visitors resulting from our U.K. digital properties (based on Adobe Analytics).

(3) Adjusted EBITDA, Adjusted Net income (loss) attributable to Gannett, Free cash flow, Same store revenues, and Free cash flow CAGR are non-GAAP measures. See "Use of Non-GAAP Information" below for information about these non-GAAP measures.

First Quarter 2024 Capital Structure Highlights:

•As of March 31, 2024, the Company had cash and cash equivalents of $93.3 million

•Total principal amount of debt outstanding at Q1 end was $1,114.2 million, including $625.6 million in first lien debt

•First lien net leverage(4) was 2.0x, a decrease of 21.6% compared to the same period of the prior year

•The Company repaid $16.3 million of debt in the first quarter of 2024

Full Year 2024 and Mid-Term 2025-2026 Business Outlook(5)

The Company reiterates its full year 2024 outlook and its mid-term outlook over the course of 2025 and 2026.

•Full Year 2024 Business Outlook(5)

◦Total d

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Gannett Announces Third Quarter 2023 Results & Updated Full Year Outlook

•Operating Income of $34.9 million; Net Loss Attributable to Gannett of $2.6 million

•Adjusted EBITDA(1) of $59.5 million, up 15% Year-over-Year

•Cash Provided by Operating Activities of $20.6 million; Free Cash Flow(1) of $7.4 million

•Repaid $65.3 million in Debt; First Lien Net Leverage Below 2.0x

MCLEAN, VA — November 2, 2023 — Gannett Co., Inc. ("Gannett", "we", "us", "our", or the "Company") (NYSE: GCI) today reported its financial results for the third quarter ended September 30, 2023.

"In the third quarter, we drove significant improvement to our bottom line, along with sustained growth in both Adjusted EBITDA(1) and total digital revenues. Furthermore, for the third consecutive quarter, we achieved a sequential improvement in same-store revenues(1). Our financial results for the third quarter reflect the continued progress on our strategy and our resilience in successfully navigating a challenging operating environment for our advertising clients. The positive momentum observed in our key financial metrics underscores our relentless effort to execute on our strategy, which we believe will result in long term sustainable revenue and profit growth, along with much lower debt levels", said Michael Reed, Gannett Chairman and Chief Executive Officer.

"We remain focused on improving profitability, improving revenue trends through digital revenue growth, and debt repayment. In the third quarter we repaid $65 million of debt, which combined with our Adjusted EBITDA(1) growth, reduced our first lien net leverage to below 2.0x. We also maintained a strong liquidity position with $109 million of cash at the end of the third quarter. Equally important, total digital revenues surpassed 40% of total revenues, growing 3% year-over-year on a same store basis(1). We expect this trend of digital revenue growth to continue into the fourth quarter of 2023."

"We continue to focus on and expand our partnerships to generate new digital and affiliate revenues. Our recent agreements with Jackpocket and Red Ventures bring the total number of executed partnerships to four, which we believe will allow us to expand our audience and create additional monetization opportunities."

"Our progress and results in 2023 serve as a testament to the strength of our strategy, prudent cost management, and our seasoned management team. We've shown resilience across various operating environments, and as a result, we are confident in our ability to navigate any near-term volatility and drive sustained, long-term value for our shareholders. As you may expect, no evolution from an analog business to a digital business is a straight line. We are making substantive progress on our evolution in key areas."

"We expect 2023 will be a good year by most measures that are critical to our strategy. Importantly, we expect to end the year with overall revenue trend improvement, growth in both total digital revenues and Adjusted EBITDA, significant free cash flow generation, meaningful debt reduction, and first lien net leverage below 2.0x. With our continued execution we expect to improve on all these areas in 2024 and beyond, and remain optimistic about creating sustainable growth and significant value for our shareholders."

Third Quarter 2023 Highlights:

•Total revenues of $652.9 million decreased 9.1% compared to the third quarter of 2022

◦Same store revenues(1) decreased 8.4% compared to the third quarter of 2022, as compared to a decrease of 8.6% in the second quarter of 2023

•Total digital revenues were $263.6 million, or 40.4% of total revenues, up 2.7% over the same period in the prior year on a same store basis(1)

•Net loss attributable to Gannett of $2.6 million improved by $51.5 million versus the net loss attributable to Gannett of $54.1 million in the third quarter of 2022

•Adjusted EBITDA(1) totaled $59.5 million, an increase of 14.7% compared to the third quarter of 2022

◦Adjusted EBITDA margin(1) of 9.1% improved 190 basis points compared to the 7.2% Adjusted EBITDA margin(1) in the third quarter of 2022

(1) See "Use of Non-GAAP Information" below for information about this non-GAAP measure.

•Cash provided by operating activities of $20.6 million

•Free cash flow(1) of $7.4 million

Third Quarter 2023 Gannett Media Highlights:

•Digital-only subscription revenues of $40.0 million grew 15.9% year-over-year and increased 16.1% year-over-year on a same store basis(1)

•Record high digital-only average revenue per user(2) of $6.82 increased 14.0% year-over-year, reflecting the execution of our refined customer acquisition strategy with a heightened focus on profitability and lowering churn

•After minor sequential declines in the first and second quarter of 2023, digital-only paid subscriptions(2) returned to growth in the third quarter of 2023, up 0.7% compared to the second quarter of 2023,

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Gannett Announces Second Quarter 2023 Results and Raises Full Year Outlook

•Operating Income of $13.5 million; Net Loss Attributable to Gannett of $12.7 million

•Adjusted EBITDA(1) of $71.2 million, up 40% Year-over-Year

•Cash Provided by Operating Activities of $46.1 million, up 250% Year-over-Year, Free Cash Flow(1) of $38.4 million, up 189% Year-over-Year

Total Digital Revenues returned to growth in Q2; expect further improvement to digital growth trend in Q3

Improving Digital-only subscription monetization; Digital-only ARPU(2) up 6% Year-over-Year to $6.35

DMS achieved record high core platform revenues(3) and ARPU(2); sequential improvement to customer count(2)

MCLEAN, VA — August 3, 2023 — Gannett Co., Inc. ("Gannett", "we", "us", "our", or the "Company") (NYSE: GCI) today reported its financial results for the second quarter ended June 30, 2023.

“We are pleased to report strong operational and financial results for the quarter. In the second quarter, Adjusted EBITDA grew by 40% year-over-year, reflecting a margin of approximately 11%, a sizable increase compared to the prior year's margin of about 7%. Additionally, free cash flow increased by 189% year-over-year, while our strategic initiatives drove ongoing sequential improvements in same-store revenue trends. As a result, our total digital revenues returned to growth in the second quarter and account for nearly 40% of total revenues, representing an all-time high. We believe we are making great progress on our strategy, and our results signify a notable turning point in our business trajectory", said Michael Reed, Gannett Chairman and Chief Executive Officer.

"In the second quarter, our digital businesses continued to deliver solid results. Digital-only subscription revenues experienced growth of 17% year-over-year on a same store basis, while our digital marketing solutions business achieved record high core platform revenues and ARPU, and sustained strong Adjusted EBITDA margins. We also repaid $15 million of debt, and combined with our improving Adjusted EBITDA performance, we materially reduced our first lien net leverage to 2.26x, while maintaining a healthy liquidity position."

"We continue to build on the strong foundation we laid over the past year and our focus persists on profitability, digital revenue growth and continuing to enhance our balance sheet. We believe that focus is evident in our results, enabling us to raise our full year guidance again this quarter. We expect sustained improvement in same store revenue trends throughout the second half of the year, alongside more substantial growth in our digital revenue trends. Our strong performance expected in the latter half of this year also extends to Adjusted EBITDA and free cash flow, reinforcing our confidence in achieving a first lien net leverage well below 2.0x by the end of 2023."

Second Quarter 2023 Highlights:

•Total revenues of $672.4 million decreased 10.2% compared to the second quarter of 2022

◦Same store revenues(1) decreased 8.6% compared to the second quarter of 2022, reflecting a sequential improvement of 70 basis points compared to the first quarter of 2023

•Total digital revenues were $262.1 million, or 39.0% of total revenues, up 0.8% over the same period in the prior year on a same store(1) basis

•Net loss attributable to Gannett of $12.7 million improved by $41.0 million versus the net loss attributable to Gannett of $53.7 million in the second quarter of 2022

◦Adjusted net loss attributable to Gannett(1) of $6.0 million

•Adjusted EBITDA(1) totaled $71.2 million, an increase of 39.9% compared to the second quarter of 2022

(1) See "Use of Non-GAAP Information" below for information about these non-GAAP measures.

(2) See "Key Performance Indicators" ("KPI") below for information about our use of KPIs.

(3) Core platform revenues is defined as revenue derived from customers utilizing our proprietary digital marketing services platform that are sold by either our direct or local market teams.

◦Adjusted EBITDA margin(1) of 10.6% improved 380 basis points compared to the 6.8% Adjusted EBITDA margin(1) in the second quarter of 2022

•Cash provided by operating activities of $46.1 million

•Free cash flow(1) of $38.4 million, an increase of 188.8% compared to second quarter of 2022

•Strengthened our executive leadership team through the strategic appointments of:

◦Chris Cho as President of Digital Marketing Solutions

◦Imtiaz Patel as Gannett Media Chief Consumer Officer

◦Kristin Roberts as Gannett Media Chief Content Officer

◦Jason Taylor as Gannett Media Chief Sales Officer

Second Quarter 2023 Gannett Media Highlights:

•Digital-only subscription revenues of $37.9 million grew 16.6% year-over-year and increased 17.3% year-over-year on a same store basis(1)

•Digital-only paid subscriptions(2) of 1.95 million at the end of the second quarter of 2023, up 4.6% compared to same period in

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Gannett Announces First Quarter 2023 Results and Raises Full Year Outlook

Net Income Attributable to Gannett of $10.3 million and Adjusted EBITDA(1) of $62.9 million

Digital-only Circulation Revenues of $35.8 million grew 19% Year-over-Year

Digital Marketing Solutions Core Platform Revenues(2) of $111.4 million, up 4% Year-over-Year

MCLEAN, VA — May 4, 2023 — Gannett Co., Inc. ("Gannett", "we", "us", "our", or the "Company") (NYSE: GCI) today reported its financial results for the first quarter ended March 31, 2023.

"I'm excited to announce that our first quarter results reflect a solid start to the year. Despite facing what we believe will be the most challenging comparisons in 2023, Adjusted EBITDA remained relatively flat year-over-year, and we witnessed sequential improvement in same store revenue trends. As we anticipate further improvement in the second quarter, we are raising our 2023 full year outlook with respect to Adjusted EBITDA, Net Income, and cash flow. We made significant progress across the majority of our key financial measures, and we believe our results demonstrate the effectiveness of the measures we implemented in the latter half of 2022 to position the Company for long-term success”, said Michael Reed, Gannett Chairman and Chief Executive Officer.

"In the first quarter our digital-only businesses delivered solid results with 15% year-over-year growth in digital-only paid subscriptions and approximately 20% year-over-year growth in digital-only circulation revenues on a same store basis. Our Digital Marketing Solutions business also sustained a high level of performance, exhibited robust growth in core platform revenues compared to the prior year period, and achieved strong Adjusted EBITDA margins. Furthermore, we continued to make measurable progress in debt reduction, having repaid $37 million in the first quarter, while maintaining a healthy balance sheet and strong liquidity position."

“We have created solid building blocks for 2023 and believe we are well positioned to capitalize on this momentum moving forward. We believe our trends are improving, our digital growth businesses remain strong, our first lien net leverage declined and is on track to achieve our year-end target of less than 2x, and we continue to optimize our capital structure. These results not only demonstrate our progress towards each of our key initiatives, but also illustrate our commitment to providing communities with trusted, impactful content and best-in-class marketing solutions."

First Quarter 2023 Financial Highlights:

•Total revenues of $668.9 million decreased 10.6% compared to the first quarter of 2022

◦Same store revenues(1) decreased 9.3% compared to the first quarter of 2022

•Total digital revenues were $247.5 million or 37.0% of total revenues, down 0.9% over the same period in the prior year on a same store(1) basis primarily as a result of declines in digital media year-over-year

•Net income attributable to Gannett of $10.3 million, representing an income margin of 1.5%, improved by $13.3 million versus the net loss attributable to Gannett of $3.0 million in the first quarter of 2022

◦Adjusted net income attributable to Gannett(1) of $5.8 million

•Adjusted EBITDA(1) totaled $62.9 million, a decrease of 2.0% compared to the first quarter of 2022

◦Adjusted EBITDA margin(1) of 9.4%

•Cash provided by operating activities of $6.7 million

•Free cash flow(1) usage of $2.1 million

(1) See "Use of Non-GAAP Information" below for information about these non-GAAP measures.

(2) Core platform revenues is defined as revenue derived from customers utilizing our proprietary digital marketing services platform that are sold by either our direct or local market teams.

First Quarter 2023 Gannett Media Highlights:

•Digital-only circulation revenues of $35.8 million grew 18.9% year-over-year and increased 19.9% year-over-year on a same store basis(1)

•Digital-only paid subscriptions of 2.02 million at the end of the first quarter of 2023, up 15.4% compared to same period in the prior year

•186 million average monthly unique visitors in the first quarter of 2023 with 135 million average monthly unique visitors coming from our USA TODAY NETWORK (based on March 2023 Comscore Media Metrix®) and 51 million average monthly unique visitors resulting from our U.K. digital properties(3)

First Quarter 2023 Digital Marketing Solutions Highlights:

•Digital Marketing Solutions segment revenues of $112.8 million grew 2.8% year-over year and increased 3.4% year-over-year on a same store basis(1)

◦Total core platform revenues(2) of $111.4 million in the first quarter of 2023, up 3.9% compared to the same quarter in the prior year

◦Total core platform customers of 14.7 thousand were down 4.5% compared to the first quarter of 2022

◦Average revenue per user(4) was $2,535, an 8.8% increase compared to the first quarter of 2022

◦Customer budget reten

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Gannett Announces Fourth Quarter 2022 Results

24% Digital-Only Paid Subscription Growth Year-Over-Year to 2.03 million Paid Subscriptions

Digital-only Circulation Revenues of $35.5 million Grew 29% Year-over-Year

Digital Marketing Solutions Core Platform Revenues(1) of $119.7 million, up 9% Year-over-Year

Repaid $47.3 million in Debt During the Fourth Quarter and $146.6 million of Debt in 2022

MCLEAN, VA — February 23, 2023 — Gannett Co., Inc. ("Gannett", "we", "us", "our", or the "Company") (NYSE: GCI) today reported its financial results for the fourth quarter ended December 31, 2022.

"During the fourth quarter the Company continued to make significant progress against its strategic priorities and we ended 2022 with our highest quarterly Adjusted EBITDA for the year, resulting in significant sequential growth over the prior quarter,” said Michael Reed, Gannett Chairman and Chief Executive Office. “This illustrates the effectiveness of our ongoing cost management program which has enabled us to navigate the near-term volatility and we believe will allow Gannett to realize its long-term growth goals. As a result, we believe we have laid the foundation for strong full year 2023 guidance which includes significant cash flow growth."

"Importantly, in addition to the results from our cost management efforts, we also continued to see the success of our digital-only subscription and Digital Marketing Solutions growth strategies. In the fourth quarter revenue from our digital-only paid subscriptions rose 29% year-over-year, as we surpassed 2.0 million digital-only paid subscriptions, and our Digital Marketing Solutions business achieved its third consecutive quarter of sequential core platform revenue growth, while maintaining double-digit Adjusted EBITDA margins.”

“We also continued to make significant progress towards debt reduction, repaying $47 million of debt while ending the year with a cash balance of $94 million. We believe we are well positioned to further improve our overall capital structure in 2023 due to the expected improvement in free cash flow along with continued real estate asset sales. We are pleased to enter 2023 with solid liquidity, a healthy balance sheet, and a robust real estate asset sales pipeline which we believe will allow us to continue our aggressive debt repayment strategy.”

Fourth Quarter 2022 Financial Highlights:

•Total revenues of $730.7 million decreased 11.6% compared to the fourth quarter of 2021

◦Same store revenues(2) decreased 10.3% compared to the fourth quarter of 2021

•Total digital revenues were $269.2 million or 36.8% of total revenues, down 0.4% over the same period in the prior year on a same store(2) basis mainly as a result of declines in digital media year-over-year

•Net income attributable to Gannett of $32.8 million, an income margin of 4.5%

◦Adjusted net income attributable to Gannett(2) of $53.2 million

•Adjusted EBITDA(2) totaled $90.4 million, a decrease of 21.7% compared to the fourth quarter of 2021

◦Sequential improvement of 74.1% compared to the third quarter of 2022

◦Adjusted EBITDA margin(2) of 12.4%, representing sequential improvement of 520 basis points compared to the third quarter of 2022

•Cash provided by operating activities of $7.8 million

•Free cash flow(2) usage of $1.6 million

(1) Core platform revenues is defined as revenue derived from customers utilizing our proprietary digital marketing services platform that are sold by either our direct or local market teams.

(2) See "Use of Non-GAAP Information" below for information about this non-GAAP measure.

Fourth Quarter 2022 Business Highlights:

•Digital-only paid subscriptions of 2.03 million at the end of the fourth quarter of 2022, up 24.2% compared to same period in the prior year

•Digital-only circulation revenues of $35.5 million grew 28.6% year-over-year and increased 29.5% year-over-year on a same store basis(2)

•179 million average monthly unique visitors in the fourth quarter of 2022 with 133 million average monthly unique visitors coming from our USA TODAY NETWORK (based on December 2022 Comscore Media Metrix®) and 46 million average monthly unique visitors resulting from our U.K. digital properties

•Digital Marketing Solutions segment revenues of $121.1 million grew 7.0% year-over year and increased 7.8% year-over-year on a same store basis(2)

◦Total core platform revenues(1) experienced a record high of $119.7 million in the fourth quarter of 2022, up 8.7% compared to the same quarter in the prior year

◦Total core platform customers of 15,300 were up 0.9% compared to the fourth quarter of 2021

◦Average revenue per user(3) was $2,607, increasing 7.7% compared to the fourth quarter of 2021

◦Net income attributable to Gannett within the segment was $12.0 million in the fourth quarter of 2022 and Net income attributable to Gannett margin within the segment was 9.9% in the fourth quarter of 2022

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Gannett Announces Third Quarter 2022 Results and Reiterates Full Year Outlook

28.5% Digital-Only Paid Subscriber Growth Year-Over-Year to 1.98 million Paid Subscribers

Record High Digital Marketing Solutions Core Platform Revenues of $118.7 million

Repaid $24.3 million in Debt During the Quarter and $129.9 million of Debt Year-to-Date(1)

MCLEAN, VA — November 3, 2022 — Gannett Co., Inc. ("Gannett", "we", "us", "our", or the "Company") (NYSE: GCI) today reported its financial results for the third quarter ended September 30, 2022.

“The Company continues to respond decisively to the ongoing macroeconomic volatility and inflationary pressures. We continue to execute on $200 million to $240 million in annualized cost savings through the implementation of temporary and permanent actions that are expected to give us near-term flexibility and allow us to continue forward towards the Company's digital transformation,” said Michael Reed, Gannett Chairman and Chief Executive Officer. “While these cost saving initiatives drove a sequential improvement to Adjusted EBITDA and Adjusted EBITDA margin in the third quarter, we expect to capture most of the benefits in the fourth quarter of 2022 and the full year of 2023."

"The results in our Digital-only and Digital Marketing Solutions businesses in the third quarter are evidence that our digital transformation is progressing well. We finished the third quarter with 1.98 million digital-only paid subscribers, growing 28.5% year-over-year, and during October, we accomplished an important milestone by surpassing 2.0 million digital-only paid subscribers. Also, our Digital Marketing Solutions business achieved record high core platform revenue during the third quarter, while maintaining double-digit Adjusted EBITDA margins for the sixth consecutive quarter."

“We also remain committed to continued optimization of our overall capital structure, in part through our continued debt reduction. During the third quarter we repaid $24.3 million in debt with an additional repayment of $30.7 million subsequent to the end of the third quarter. While we continue to navigate a difficult operating environment, we are confident in our belief that the actions we are taking are positioning Gannett on a path towards revenue and free cash flow growth as well as increased value for our shareholders over the long-term.”

Third Quarter 2022 Financial Highlights:

•Total revenues of $717.9 million decreased 10.3% compared to the third quarter of 2021

◦Same store revenues(2) decreased 9.0% compared to the third quarter of 2021

•Total digital revenues were $256.4 million or 35.7% of total revenues, down 2.3% over the same period in the prior year on a same store(2) basis mainly as a result of weakness in digital media year-over-year

•Net loss attributable to Gannett of $54.1 million, a loss margin of 7.5%

•Adjusted net income attributable to Gannett(2) of $48.4 million

•Adjusted EBITDA(2) totaled $51.9 million, a decrease of 49.1% compared to the third quarter of 2021

◦Sequential improvement of 2.1% compared to the second quarter of 2022

◦Adjusted EBITDA margin(2) of 7.2%, representing sequential improvement of 40 basis points compared to the second quarter of 2022

•Cash provided by operating activities of $31.3 million

•Free cash flow(2) of $18.6 million

(1) Reflects subsequent events occurring after the end of the third quarter and as of November 3, 2022.

(2) See "Use of Non-GAAP Information" below for information about this non-GAAP measure.

Additional Business Highlights:

•Digital-only paid subscribers of 1.98 million at the end of the third quarter of 2022, up 28.5% compared to same period in the prior year

◦Digital-only circulation revenues of $34.5 million grew 35.4% year-over-year on a same store basis(2) and increased 34.3% in the third quarter of 2022 compared to the same period in the prior year

•178 million average monthly unique visitors in the third quarter of 2022 with 126 million average monthly unique visitors coming from our USA TODAY NETWORK (based on September 2022 Comscore Media Metrix®) and 52 million average monthly unique visitors resulting from our U.K. digital properties

•Digital Marketing Solutions segment revenues were $120.0 million, and on a same store basis(2) increased 3.4% in the third quarter of 2022 compared to the same period in the prior year

◦Total core platform revenues(3) experienced a record high of $118.7 million in the third quarter of 2022, up 5.3% compared to the same quarter in the prior year

◦Total core platform customers of 15,800 in the third quarter of 2022 up 2.6% compared to the third quarter of 2021

◦Average revenue per user(4) was $2,511 in the third quarter of 2022, increasing 2.6% compared to the third quarter of 2021

◦Net income attributable to Gannett within the segment was $5.4 million in the third quarter and Net income attributable to Gannett margin within

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Gannett Announces Second Quarter 2022 Results & Updated Full Year Outlook

35% Digital-Only Paid Subscriber Growth Year-Over-Year to 1.87 million Paid Subscribers

Record High Digital Marketing Solutions Core Platform Revenues of $116.4 million, up 11.2% Year-over-Year

Total Digital Revenues of $261.8 million, or 35% of Total Revenues Grew 1.5% Over Prior Year Same Store

MCLEAN, VA — August 4, 2022 — Gannett Co., Inc. ("Gannett", "we", "us", "our", or the "Company") (NYSE: GCI) today reported its financial results for the second quarter ended June 30, 2022.

“Our second quarter results and updated full year outlook reflect industry-wide headwinds in digital advertising as well as rising costs and pressures on consumers which are impacting our near-term performance. During the quarter we experienced a rapidly tightening macroeconomic environment caused by rising inflation coupled with distribution labor shortages and price sensitive consumers which has affected our traditional print business. Despite these challenges, our investments in our key operating pillars are yielding impressive results. We continue to experience considerable progress in our digital transformation and finished the quarter with 1.87 million digital paid subscribers, growing 35% year-over-year. In addition, our Digital Marketing Solutions business generated its highest quarter of core platform revenue of $116 million, and its highest quarter of core platform customers of over 16 thousand, while maintaining double-digit Adjusted EBITDA margins,” said Michael Reed, Gannett Chairman and Chief Executive Officer.

“Our revised guidance reflects our outlook based on current economic conditions. We are not satisfied with our overall performance in the second quarter and have quickly responded to this rapidly deteriorating economic environment by implementing a significant cost reduction program that we believe will better position the Company to realize its long-term growth goals, with a lower and more variable cost structure. The changes and reductions to our cost structure are focused primarily on our legacy print business."

"Along with strategic reductions to our cost structure, we have identified additional non-strategic and real estate assets to bring to market. We remain focused on repaying $150 million to $200 million of debt in 2022."

"While the current operating environment is challenging, we believe we can achieve our longer-term transformational digital growth goals. This current downturn is pulling forward print revenue losses anticipated in future periods, and more quickly requiring changes to our operations and cost structure which we believe will benefit us over time."

"We believe our subscription-led business model, robust balance sheet, and experienced management team put us in a solid position to weather this economic downturn and deliver long-term value to shareholders."

Second Quarter 2022 Financial Highlights:

•Total revenues of $748.7 million decreased 6.9% compared to the second quarter of 2021

◦Same store revenues(1) decreased 6.3% compared to the second quarter of 2021

•Total digital revenues were $261.8 million or 35% of total revenues, up 1.5% over the same period in the prior year on a same store(1) basis

•Net loss attributable to Gannett of $53.7 million, a margin loss of 7.2%

•Adjusted net loss attributable to Gannett(1) of $26.9 million

•Adjusted EBITDA(1) totaled $50.9 million, a decrease of 56.1% compared to the second quarter of 2021, with declines driven by legacy print revenue declines and inflationary pressures on labor, newsprint, distribution and fuel costs

◦Adjusted EBITDA margin(1) of 6.8%

•Cash used for operating activities of $30.7 million

•Free cash flow(1) usage of $43.3 million, impacted by $34.4 million of cash interest, including the first interest payment on the 2026 Senior Notes, which is payable every six months on an ongoing basis

(1) See "Use of Non-GAAP Information" below for information about this non-GAAP measure.

Additional Business Highlights:

•Digital-only paid subscribers of 1.87 million at the end of the second quarter of 2022, up 35% compared to same period in the prior year

◦Digital-only circulation revenues of $32.5 million grew 35.3% year-over-year and increased 36.7% year-over-year on a same store basis(1)

•165 million average monthly unique visitors in the second quarter of 2022 with 126 million average monthly unique visitors coming from our USA TODAY NETWORK (based on June 2022 Comscore Media Metrix®) and 39 million average monthly unique visitors resulting from our U.K. digital properties

•Digital Marketing Solutions segment revenues were $118.0 million, and on a same store basis(1) increased 8.2% in the second quarter of 2022 compared to the same period in the prior year

◦Total core platform revenues(2) experienced a record high of $116.4 million in the second quarter of 2022, up 11.2% compare

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Gannett Announces First Quarter 2022 Results

44% Digital-Only Paid Subscriber Growth Year-Over-Year to over 1.75 million Paid Subscribers

Digital Marketing Solutions Core Platform Revenues rose 14% Year-Over-Year to $107.3 million

Total Digital Revenues of $251.1 million, or 34% of Total Revenues grew 9% Year-Over-Year

MCLEAN, VA — May 5, 2022 — Gannett Co., Inc. ("Gannett", "we", "us", "our", or the "Company") (NYSE: GCI) today reported its financial results for the first quarter ended March 31, 2022.

“The first quarter performance was slightly ahead of our expectations and we believe we have positioned ourselves to carry this momentum throughout 2022. We have created solid building blocks for future growth at Gannett and, as such, we are reiterating our full year guidance for 2022. We continue to experience strong growth in digital-only circulation with five consecutive quarters of at least 40% subscriber growth and surpassing 1.75 million digital-only paid subscribers. In lockstep with the increase in our digital-only subscribers, our digital marketing solutions business has experienced year-over-year core revenue and core client growth of 14% and 13%, respectively, as well as four consecutive quarters of double-digit Adjusted EBITDA margins,” said Michael Reed, Gannett Chairman and Chief Executive Officer.

"The success in these key operating pillars has allowed the company to continue its digital transformation journey with digital-only revenues accounting for more than one-third of total revenues and growth of 9% year-over-year. As we continue to evolve the business, we believe we are well positioned to generate significant free cash flow, further improve the balance sheet through debt pay down, and invest in growth opportunities. We remain optimistic for Gannett, not only in the short term, but also for anticipated long-term shareholder value creation.”

First Quarter 2022 Financial Highlights:

•Total revenues of $748.1 million decreased 3.7% compared to the first quarter of 2021

◦Same store revenues(1) decreased 2.5% compared to the first quarter of 2021

•Total digital revenues were $251.1 million or 34% of total revenues, up 9.7% over the same period in the prior year on a same store(1) basis

•Net loss attributable to Gannett of $3.0 million and margin loss of 0.4%

•Adjusted net income attributable to Gannett(1) of $4.5 million

•Adjusted EBITDA(1) totaled $64.2 million, a decrease of 36.1% compared to the first quarter of 2021

◦Adjusted EBITDA margin(1) of 8.6%

•Cash provided by operating activities of $32.4 million

•Free cash flow(1) of $21.7 million

Additional Business Highlights:

•Digital-only paid subscribers increased 44% compared to the first quarter of 2021 and surpassed 1.75 million at the end of the first quarter of 2022

◦Digital-only circulation revenues of $30.1 million grew 30.0% year-over-year

•191 million average monthly unique visitors in the first quarter of 2022 with 145 million average monthly unique visitors coming from our USA TODAY NETWORK (based on March 2022 Comscore Media Metrix®) and 46 million average monthly unique visitors resulting from our U.K. digital properties

(1) See "Use of Non-GAAP Information" below for information about this non-GAAP measure.

•Digital Marketing Solutions segment revenues were $109.7 million, and on a same store basis(1) increased 8.2% in the first quarter of 2022 compared to the same period in the prior year

◦Total core platform revenues(2) were $107.3 million in the first quarter of 2022, up 14.2% compared to the same quarter in the prior year

◦Total core platform customers were 15,400 in the first quarter of 2022, up 13.2% compared to the first quarter of 2021

◦Net income attributable to Gannett margin within the segment was 4.8% in the first quarter of 2022 versus 1.1% in the same quarter of the prior year

◦Adjusted EBITDA margin(1) within the segment increased to 10.2% in the first quarter of 2022 versus 9.0% in the same quarter of the prior year, representing the fourth consecutive quarter of double-digit margins

•Revenues from USA TODAY NETWORK Ventures, our events portfolio, were $11.7 million and increased 83.3% year-over-year driven by increased attendance at in-person events and endurance races

◦The Company hosted 115,000 attendees across 25 events versus 60,000 attendees and 12 events in the same quarter of the prior year

•In March 2022, the Company launched its Digital Saturday initiative in 136 markets, which allows subscribers to receive access to the full portfolio of e-Editions across the USA TODAY network

◦The recent launch has resulted in an increase to the Company's Saturday digital e-Edition usage by 55% with 351,000 average Saturday digital users

•The Company released its second annual Inclusion Report documenting its progress and accomplishments in 2021, including in-depth workplace diversity metrics and reflections from employees acro

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Gannett Announces Fourth Quarter 2021 Results

49% Digital-Only Paid Subscriber Growth to Over 1.6 million Paid Subscribers

Total Digital Revenues Surpassed $1.0 billion in 2021, 32% of Total Revenues and Up 9% Year-over-Year and Up 11% Over Prior Year Same Store(1)

Repaid $57.5 million in Debt During the Quarter and adopted a $100 million Share Repurchase Program in 2022

MCLEAN, VA — February 24, 2022 — Gannett Co., Inc. ("Gannett", "we", "us", "our", or the "Company") (NYSE: GCI) today reported its financial results for the fourth quarter ended December 31, 2021.

"During 2021 we made excellent progress executing on our strategy to evolve our business. We continued to make meaningful progress against our key operating pillars and we expect to carry this momentum forward. We achieved several key milestones in 2021, including total digital revenues surpassing $1 billion with growth exceeding 9% year-over-year and 11% on a same store basis(1) year-over-year. Further, our digital-only circulation revenue surpassed $100 million in 2021 and paid digital-only subscribers surpassed 1.6 million. We expect continued strong growth in these categories. In addition, we repaid over $235 million in debt during 2021, and through two refinancing efforts, lowered our cost of debt to approximately 5.8% and our first lien net leverage has dropped to 1.7x at year end," said Michael Reed, Gannett Chairman and Chief Executive Officer.

"A benefit of the significant progress we have made with regard to our strategy is better visibility going forward. As part of our enhanced guidance, we expect 2022 free cash flow to nearly double from 2021, and for free cash flow to grow through 2025 at a 40% compound annual growth rate. We expect to surpass 2 million paid digital subscribers this year, and to grow at an annual rate of approximately 40% through 2025."

"With the significant growth in free cash flow expected in 2022, we plan to further invest in our growth segments. We expect to invest $80 million across content, marketing, data, product, and digital marketing solutions sales and support operations during 2022 to drive meaningful growth. We believe that our strategy and these investments help position our business to reach the anticipated inflection point in our total Revenue and Adjusted EBITDA during 2024. We also believe we will have sustained revenue growth beginning in 2024."

"The anticipated significant growth in free cash flow is also expected to allow us to continue our aggressive debt repayment strategy. We ended 2021 with approximately $131 million in cash on the balance sheet. Considering our liquidity position, lower leverage profile and our recently announced $100 million stock repurchase program, along with expected increased free cash flows, we believe we are well-positioned to maximize shareholder returns."

Fourth Quarter 2021 Financial Highlights:

• Total revenues of $826.5 million decreased 5.6% compared to the prior year quarter

◦Same store revenues(1) decreased 4.3% compared to the fourth quarter of 2020

•Total digital revenues were $272.6 million or 33% of total revenues, up 5.0% over the same period in the prior year on a same store(1) basis

•Net loss attributable to Gannett of $22.4 million and margin loss of 2.7%

•Adjusted net income attributable to Gannett(1) of $42.8 million

•Adjusted EBITDA(1) totaled $115.4 million, a decrease of 22.5% compared to the fourth quarter of 2020

◦Adjusted EBITDA margin(1) of 14.0%

•Cash used for operating activities of $5.9 million and free cash flow(1) usage of $18.2 million

Additional Business Highlights:

•Digital-only paid subscribers were up 49% compared to the prior year quarter and exceeded 1.6 million at the end of the fourth quarter of 2021

(1) See "Use of Non-GAAP Information" below for information about this non-GAAP measure.

◦Digital-only circulation revenues of $27.6 million grew 25.5% compared to the prior year quarter. For the full year 2021, digital-only circulation revenues surpassed $100 million, growing 33.5% compared to 2020

•183 million average monthly unique visitors in the fourth quarter of 2021 across USA TODAY NETWORK (based on December 2021 Comscore Media Metrix®) and the U.K. digital properties

•Digital Marketing Solutions segment revenues were $113.2 million, and on a same store basis(1) increased 7.2% in the fourth quarter of 2021 compared to the same period in the prior year

◦Total core platform customers was 15,200 in the fourth quarter of 2021, up 14.0% from the same quarter prior year

◦Net income attributable to Gannett margin within the segment was 6.6% in the fourth quarter of 2021 versus 0.5% in the same quarter of the prior year

◦Adjusted EBITDA margin(1) within the segment increased to 12.6% in the fourth quarter of 2021 versus 8.9% in the same quarter of the prior year

•During the fourth quarter of 2021, the Company repaid approximately $57.5 million of