Boston Omaha Corporation · NYSE:BOC
Boston Omaha — Q1 2025 Earnings Presentation
13 slides from Boston Omaha's earnings presentation, May 14, 2025
Slide 1: Q1 2025 Financial Results
BOSTON OMAHA Q1 2025 Financial Results May 14, 2025
Slide 2: Safe Harbor Statement
BOSTON OMAHA, ‘SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 COMPARISON OF ADJUSTED INFORMATION TO U.S. GAAP INFORMATION
Slide 3: Q1 2025 Highlights
Q1 2025 Highlights parry + Revenue growth of 0.6% YoY Link Media Outdoor + Land cost of 20.896 (18.59 excl, ASC 842 lease accounting entries) + Adjusted EBITDA of ~$3.6 millon + -2.3knew fiber passings/~1.5k new fiber subscribers Boston Omaha Broadband + $6.2 million in capital expenditures + Adjust
Slide 4: Business Unit Updates
Business Unit Updates
Slide 5: Link Media Outdoor
Link Media Outdoor Outdoor Advertising BOSTON OMAHA, Hightights. + Softer revenue growth of 0.6% YoY due to reduced Revenue $108 $10.7 0.69% advertising spendin Entertainment, Automotive, and Government categories. Land cost %” 208% 19.1% 17% + Increase in and cost mainly due to ASC B42 ease account
Slide 6: Boston Omaha Broadband
Boston Omaha Broadband AireBeam, InfoWest and Utah Broadband YoY Growth Q125 Quis Revenue ross margins Net income (loss) ‘* Adjusted EBITDA '**) 34.296 Capital Expenditures, (17.29% ‘Scereton gm orbas ondepoohion sansa and oberimestmer nears) BOSTON OMAHA, Hightights + ~2.1knew fiber passings and~90
Slide 7: Boston Omaha Broadband - Fiber Fast Homes
Boston Omaha Broadband SOSTON Fiber Fast Homes - Greenfield Fiber New Homes Division —_ aH | GK YoY Hightights. Growth + ~200 new passings and ~600new fiber subscribers Revenue $05 $02 158.596 uring Q1°25. + Working to continue growing subscriber base while Gross margin 8.5% (136.1% 144.6% integrati
Slide 8: General Indemnity Group
General Indemnity Group soso Surety Insurance OMAHA, 1:25 Yor Highlights Siow: ‘Agencies consolidated as of January 2024 and Gross writen premium $6.2 $45 (979% rebranded to BOSS Bonds® in une 2024 nes ee $50 ane |_|" ietease in toss ratio mainly elated to two larger claim payments on outstandingcon
Slide 9: Investments
Investments Oman GAAP Value") Market Value Proceeds to Date") Sky Harbour $92.2 $1822 $55 coer S194 a BOAM General Partner‘ $62 saa Build forRent Fund sar $109 24° Steet Funds sto $78 other $38 317 17. OMP vtveas ot Maren, 2025 12 NYSE maetvalueof1,100,700 shares of Sky Harbour Class Acommon stckond
Slide 10: Cash, Tax Assets, and Share Repurchase Authorization
Cash, Tax Assets, and Share Repurchase Authorization
Slide 11: Cash, Tax Assets, and Share Repurchase Program
Cash, Tax Assets, and Share Repurchase Program As of March 31, 2025 Unrestricted cash S147 US. Treasury securities Total [Net operating loss carry forwards 80C share repurchase authorization remaining'"*) BOSTON OMAHA,
Slide 12: Appendix
Appendix
Slide 13: Non-GAAP Information
Non-GAAP Information ($M) BOSTON OMAHA,