25 Nov 2021

Chairmans & CEOs Address to Shareholders

STRATEGY AND PAYOFF. How our ‘Invest to Grow’ strategy pays off over time Pre - Crocmedia Merger (PNW) $16 market capitalisation $15m broadcast revenue One sport radio station – SEN, the jewel in the crown Post - Merger (SEG) Strategic ambition to build a specialist sports media & entertainment business in Australia and New Zealand Organic & Acquisitive Growth Australia and New Zealand footprint Multiple media platforms – radio, sporting teams, TV, digital/online, print Significant advertising inventory Build Brand Awareness and Audience Leveraging our investment in content, sport broadcast rights and talent across our network Revenue ‘ Connecting Brands to Fans ’ with effective advertising solutions Over 6 million advertising inventory spots, a ~$100m theoretical revenue opportunity Additional $25m+ revenue opportunity from complimentary services and team ownership Financial Payoff As we successfully sell inventory, we expect margins to expand given our investment in the business has largely been made Growth in earnings is expected to deliver an improved share price Strategic Value We are confident our assets are unique and of potential strategic value Our combined ‘Whole of Sport’ offering is hard to replicate - broadcast licences , sports rights, team ownership, talent, content and multiple media platforms Sports media assets are attracting significant investment interest globally Strategic ambition to build a specialist sports media and entertainment business in Australia and New Zealand Mar Apr May Jun Jul Aug Sept Oct Nov Dec Jan Feb Mar Apr May Jun Jul • • • • • • • • • • • • • • • • • • • • • • • • • • • • • Syndicated markets distribution Owned markets distribution VICTORIA Melbourne SEN 1116AM & DAB+ Melbourne SENTrack 1593am & DAB+ Sunraysia/Mildura SENTrack 89.1FM La Trobe Valley South West Gippsland Melbourne SENTrack 91.9FM SENTrack 91.3FM – NEW! SEN Fanatic & DAB + Bendigo App Channel Ballarat App Channel Geelong App Channel NEW SOUTH WALES Sydney SEN 1170AM & DAB+ Sydney 2CH DAB+ Sydney SENTrack 1539AM & DAB+ Illawarra SENTrack 1575am Central Coast SENTrack 801am Griffith SENTrack 90.3FM SOUTH AUSTRALIA Adelaide SEN SA 1629am Mt Gambier SEN Mt Gambier 1629am QUEENSLAND Gold Coast SEN 1620AM Brisbane SENTrack 1053AM Atherton SENTrack 99.1 Ingham SENTrack 96.9 Kingaroy SENTrack 96.3FM Darling Downs SENTrack 91.5FM WESTERN AUSTRALIA Perth SENTrack 657am Bunbury SEN Spirit 621 SEN WA App Channel SEN Peel Mandurah DAB+ TASMANIA Hobart SEN 1629am Northern TAS SENTrack 1611am NORTHERN TERRITORY Darwin SEN Top End 1611am – NEW! 49.9 MILLION WEB NEWS ARTICLE VIEWS UP 80% 29.2 MILLION PODCAST LISTENS UP 41% 9.2 MILLION UNIQUE WEB USERS UP 112% MASSIVE GROWTH FROM THIS TIME LAST YEAR 80 MILLION PAGE & APP SCREEN VIEWS UP 66% 61 MILLION WEB & APP VIDEO VIEWS UP 205% ? ? ? ? ? ? ? ? Our ability to ‘connect a brand to a fan’ using our ‘Whole of Sport’ strategy, via radio, television, print, stadium, digital, events and team ownership remains a strength during volatile media advertising markets ? Trading in 1Q22 has trended profitably and positively ? 1Q22 broadcasting revenue was 40% up compared to the pcp (in a radio advertising spend environment up 16% 1 ) ? 1Q22 complementary services revenue was up 78% compared to the pcp on a like - for - like basis driven by the AFL Grand Final being played in front of a sold - out Optus Stadium in Perth ? Conditions are improving as the Australian eastern seaboard comes out of lockdowns with vaccination rates on target. Tight cost control measures remain in place, balanced with continued investment (cost) in the expanding Australian network and New Zealand ? Budgeting a positive FY22 EBITDA result but remains subject to no material changes in economic and COVID - 19 pandemic conditions ? Working capital levels remain healthy with headroom in the Group’s debt facility which was extended until August 2024 1. Commercial Radio Australia figures compiled by Deloitte

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