Slide 1: Q2 2026 Earnings Presentation
Q2 2026 EARNINGS P R E S E N TAT I O N AUGUST 2026
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements and Non-GAAP Financial Measures This presentation includes certain financial measures that have not been prepared in a manner that complies with generally accepted accounting principles in the United States (“GAAP”), including, without limitation, Adjusted EBITD
Slide 3: Overview
1. WHO WE ARE 2. REVENUE MIX 3. OUR OPERATING SEGMENTS 4. FINANCIAL PERFORMANCE 5. APPENDIX jasd OVERVIEW
Slide 4: 1. Who We Are
1. WHO WE ARE
Slide 5: An Empire Rooted in Radio
AN EMPIRE ROOTED IN RADIO, BEASLEY OFFERS ADVERTISERS A SINGLE DESTINATION FOR MULTI- PLATFORM SOLUTIONS THAT DRIVE RESULTS 2026: BEYOND BEASLEY'S FUTURE WILL BE FOUNDED BY COMPANY IPO ACQUIRED EXPANDED DRIVEN BY OPERATIONAL VIA NASDAQ GREATER MEDIA, DIGITAL GEORGE BEASLEY IN ADDING 20 CAPABILITIES
Slide 6: Digital Reach
RADIO REACH PODCASTS STREAMING 14.3M 3.7M 119M AVG WEEKLY AUDIENCE SIZE AVG MONTHLY DOWNLOADS LTM STREAMING SESSIONS DIGITAL REACH OUR MEDIA STRATEGY 14.4M Bringing together the reach of UNIQUE USERS1 radio and the precision of digital to deliver smarter, full-funnel campaigns that drive results SOC
Slide 7: Our Market
OUR MARKET WHILE CORE LOCAL RADIO REVENUE REMAINS STABLE IN A MATURE MARKET, THE INCREASING CONTRIBUTION FROM DIGITAL HIGHLIGHTS A CRITICAL GROWTH OPPORTUNITY. BEASLEY IS CAPITALIZING ON THIS TREND BY BUILDING A SCALABLE DIGITAL BUSINESS THAT INTEGRATES SEAMLESSLY WITH OUR AUDIO BRANDS—OFFERING ADVE
Slide 8: Our Unique Advantage
OUR UNIQUE ADVANTAGE COMBINING TRUSTED VOICES WITH TARGETED TECH, BEASLEY DELIVERS FULL-FUNNEL CAMPAIGNS THAT DRIVE REAL RESULTS. RADIO DIGITAL RADIO + DIGITAL COMBO LOCAL REACH PRECISION TARGETING MULTI-CHANNEL IMPACT • 90%+ ADULT WEEKLY REACH • RETARGETING + • LIFT IN PURCHASE INTENT • UNMATCHED P
Slide 9: 2. Revenue Mix
2. REVENUE MIX
Slide 10: Beasley's Two Segments Provide Full-Service Advertising Solutions
BEASLEY’S TWO SEGMENTS PROVIDE FULL-SERVICE, INNOVATIVE ADVERTISING SOLUTIONS AND CONNECTION WITH NEW AUDIENCES Q2 2026 AUDIO DIGITAL KEY BEASLEY’S FOUNDATIONAL ENABLING CUSTOMERS TO BUSINESS METRICS DIGITIZE THEIR BUSINESS 26% DIGITAL REVENUE $32.5M $11.7M AS % OF TOTAL NET REVENUE Q2 2026 REVENUE
Slide 11: Our Advertisers
OUR ADVERTISERS Q2 2026 REVENUE BY CLIENT TYPE AN INTEGRATED DIGITAL AND AUDIO STRATEGY THAT PROVIDES ADVERTISERS WITH TARGETED, SCALABLE MEDIA SOLUTIONS. 13% 13% LOCAL ADVERTISERS BEASLEY’S MULTIMEDIA PLATFORM ENABLES LOCAL BUSINESSES TO MAXIMIZE AUDIENCE REACH NATIONAL ADVERTISERS LARGER COMPANIES
Slide 12: Our Revenue Categories
OUR REVENUE CATEGORIES 31% 30% • CONSUMER SERVICES CONTINUES TO BE OUR DOMINANT SEGMENT 7% 16% • WITHIN CONSUMER SERVICES, 16% LEGAL, HOME IMPROVEMENT, AND GAMING WERE OUR STRONGEST CATEGORIES CONSUMER SERVICES ENTERTAINMENT RETAIL AUTO OTHER NOTE: REFLECTS Q2 2026 REVENUE
Slide 13: 3. Our Operating Segments
3. OUR OPERATING SEGMENTS
Slide 14: Audio
Audio POWERFUL OUTREACH Reaching nearly 18 million listeners weekly across our key markets, Beasley’s stations consistently deliver highly engaged local audiences, reinforcing our value to advertisers. 6 Top sports teams with whom Beasley has exclusive rights1 28.7M2 Radio + Digital platform combine
Slide 15: Digital
DIGITAL A DIVERSIFIED PRODUCT AND PLATFORM MIX ALLOWS BEASLEY TO MAXIMIZE DIGITAL MONETIZATION, BALANCING HIGH-MARGIN OWNED & OPERATED (O&O) SALES WITH SCALABLE THIRD-PARTY INVENTORY (TPP) Q2 2026 DIGITAL SALES MIX $’S IN MILLIONS 36% 64% TPP O&O NOTE: CLOSURE OF GUARANTEE DIGITAL IN Q3 2024 ACCOUNT
Slide 16: 4. Financial Performance
4. FINANCIAL PERFORMANCE
Slide 17: Tomorrow's Media Company Today
BEASLEY MEDIA GROUP: TOMORROW’S MEDIA COMPANY TODAY Q2 2026 PERFORMANCE SUMMARY: TOTAL NET CORPORATE G&A CAPEX REVENUE EXPENSE $44.1M $2.4M INCLUDING ~$400K IN $0.8M EXPENSES FROM RESTRUCTURING AND TRANSACTIONS ADJ EBITDA1 CASH AND CASH SOI1 EQUIVALENTS $5.3M $5.3M $6.7M INCLUDING $1.9K IN SEVERANCE
Slide 18: Historical P&L Performance
HISTORICAL P&L PERFORMANCE $’S IN MILLIONS PERFORMANCE $80.00 COMPARISON $72.0 $’S IN MILLIONS $70.00 $67.3 $64.8 $65.8 $63.8 $63.5 $60.1 $60.4 Q2’25 Q2’26 $60.00 $57.8 $58.2 $54.4 $53.0 $51.0 $53.1 TOTAL REVENUE $53.0 $44.1 $48.9 $50.00 $44.1 $42.6 TOTAL $40.00 EXPENSES $44.8 $38.8 $30.00 SOI* $8.2
Slide 19: Balance Sheet Items
BALANCE SHEET ITEMS $’S IN MILLIONS 6/30/2026 12/31/2025 NET WORKING $12.6 $(0.0) CAPITAL CASH AND CASH $6.7 $9.9 EQUIVALENTS TOTAL LONG-TERM $129 $235.3 DEBT NOTE: NET WORKING CAPITAL EXCLUDES CASH AND CASH EQUIVALENTS NOTE: TOTAL LT DEBT INCLUDES ALL OUTSTANDING LT DEBT
Slide 20: Appendix
©) BEASLEY » BROADCAST GROUP APPENDIX
Slide 21: Calculation of SOI Q2 2022 – Q2 2024
CALCULATION OF SOI Q2 2022 – Q2 2024 Calculation of Station Operating Income 2q 3q 4q 1q 2q 3q 4q 1q 2q 2022 2022 2022 2023 2023 2023 2023 2024 2024 Net revenue $64,810,450 $63,823,288 $72,027,012 $57,779,120 $63,461,723 $60,119,757 $65,748,658 $54,380,346 $60,435,657 Operating expenses (53,626,592)
Slide 22: Calculation of SOI Q3 2024 – Q2 2026
CALCULATION OF SOI Q3 2024 – Q2 2026 Calculation of Station Operating Income 3q 4q 1q 2q 3q 4q 1q 2q 2024 2024 2025 2025 2025 2025 2026 2026 Net revenue $58,190,116 $67,285,492 $48,912,465 $52,999,711 $50,977,046 $53,050,405 $42,588,735 $44,125,702 Operating expenses (49,946,133) (53,233,833) (45,24
Slide 23: Reconciliation of Net Income (Loss) to SOI Q2 2022 – Q2 2024
RECONCILIATION OF NET INCOME (LOSS) TO SOI Q2 2022 – Q2 2024 Reconciliation of Net Loss Attributable to BBGI Stockholders to Station Operating Income 2q 3q 4q 1q 2q 3q 4q 1q 2q 2022 2022 2022 2023 2023 2023 2023 2024 2024 Net gain / loss attributable to BBGI stockholders (14,454,717) 498,068 (17,869
Slide 24: Reconciliation of Net Income (Loss) to SOI Q3 2024 – Q2 2026
RECONCILIATION OF NET INCOME (LOSS) TO SOI Q3 2024 – Q2 2026 Reconciliation of Net Loss Attributable to BBGI Stockholders to Station Operating Income 3q 4q 1q 2q 3q 4q 1q 2q 2024 2024 2025 2025 2025 2025 2026 2026 Net gain / loss attributable to BBGI stockholders (3,560,575) (2,168,604) (2,689,821)
Slide 25: Reconciliation of Net Loss to ADJ EBITDA and EBITDA Per Indenture
RECONCILIATION OF NET LOSS TO ADJ EBITDA AND EBITDA PER INDENTURE
Slide 26: Calculation of Same-Station Net Revenue and Operating Expenses
CALCULATION OF SAME-STATION NET REVENUE AND OPERATING EXPENSES Three months ended Six months ended June 30, June 30, 2025 2026 2025 2026 Net revenue $52,999,711 $44,125,702 $101,912,176 $86,714,437 Fort Myers (1,964,133) 808 (3,853,572) (299,007) Tampa (WPBB-FM) (357,369) — (646,215) — Digital Direc
Slide 27: Calculation of Same-Station Audio Revenue and Audio Operating Expenses
CALCULATION OF SAME-STATION AUDIO REVENUE AND AUDIO OPERATING EXPENSES Three months ended Six months ended June 30, June 30, 2025 2026 2025 2026 Audio net revenue $39,818,870 $32,470,043 $77,972,240 $64,354,495 Fort Myers (1,561,217) 808 (3,067,205) (225,659) Tampa (WPBB-FM) (357,369) — (646,215) —
Slide 28: Calculation of Same-Station Digital Revenue and Digital Operating Expenses
CALCULATION OF SAME-STATION DIGITAL REVENUE AND DIGIAL OPERATING EXPENSES Three months ended Six months ended June 30, June 30, 2025 2026 2025 2026 Digital net revenue $13,180,481 $11,655,659 $23,939,936 $22,359,942 Fort Myers (402,916) — (786,367) (73,348) Digital Direct (1,890,898) — (3,597,531) —