Slide 1: Q2 2026 Earnings Presentation
SINCLAIR Q2 2026 Earnings Presentation August 5, 2026
Slide 2: Disclaimer: Forward-Looking Statements & Non-GAAP Financial Measures
Disclaimer Forward-Looking Statements & Non-GAAP Financial Measures The matters discussed in this presentation, particularly those in the section labeled “Guidance," include forward-looking statements regarding, among other things, future operating results. When used in this presentation, the words
Slide 3: 2Q26: Political Advertising Strength Continues Momentum for 2026
2Q26: Political Advertising Strength Continues Momentum for 2026 Strong Quarter ▶ Total revenue $840M, +7% y-o-y due largely to political advertising revenue growth Led By Political ▶ Political advertising revenue $59M, +9% compared to 2Q of 2022 (mid-term election year) Revenue and Cost ▶ Distribut
Slide 4: FCC Vote on National Ownership Cap Expected Tomorrow
FCC Vote on National Ownership Cap Expected Tomorrow ▶ Federal Communications Commission (FCC) expected to replace the 39% cap on national ownership coverage for broadcasters ▶ Deregulatory environment for local broadcast industry continues and we remain optimistic on significant regulatory issues N
Slide 5: 2026 Mid Term Election Cycle Political Advertising Update
2026 Mid Term Election Cycle Political Advertising Update Sinclair's Local TV Outlets Across Top Political Ad Spending States(1) Key Political Takeaways ▶ Sinclair operates in all 10 of the top states for the highest projected political ad spend, with a footprint spanning 39 distinct markets(1) ▶ Si
Slide 6: 2026 FIFA World Cup Advertising
2026 FIFA World Cup Advertising Sinclair's Reach Goes Beyond Broadcast Key Advertising Takeaways ▶ Sinclair’s digital assets extended advertising beyond linear TV with targeted, cross-platform advertising capabilities ▶ Sinclair’s FOX affiliate footprint benefitted from advertiser demand around the
Slide 7: 2Q26: Operational Highlights & Takeaways
2Q26: Operational Highlights & Takeaways Highlights ▶ Second quarter political revenue reached $59 million, an increase of 9% versus 2Q22, reflecting strong political advertising demand across Sinclair’s markets ▶ Distribution revenue increased 2% y-o-y to $444 million benefitting from our partner s
Slide 8: 2Q26: Financial Results
2Q26: Financial Results Total Company Local Media Tennis $ in millions $ in millions $ in millions $840 $70 $784 $731 $68 Political $679 Political $59 Political Political $6 $6 $59 $149 $149 $13 $103 $99 $8 $778 $781 $673 $672 Total Revenue Adjusted EBITDA Total Revenue Adjusted EBITDA Total Revenue
Slide 9: 2026: Updated Full Year Financial Guidance
2026: Updated Full Year Financial Guidance Updated Guidance (August 5, 2026) vs. Prior Guidance (April 30, 2026) in millions Key Assumptions August 2026 Guidance April 2026 Guidance ▶ Increased political advertising revenue Total Company Local Media Total Company Local Media due to continued strong
Slide 10: Debt Maturity Schedule
Debt Maturity Schedule As of June 30, 2026 Key Debt & Liquidity Metrics in millions ▶ Repaid debt of approximately $320M in 2Q 0 (including paydown of A/R facility) 0 Retired $165M of TLs in 2Q at a discount ▶ Retired $25M Face Value B7 term loan in July at a discount; repaid and terminated the re
Slide 11: Sinclair Day of Service Delivered Local Community Impact
Sinclair Day of Service Delivered Local Community Impact 11
Slide 12: Summing Up
Summing Up Performance and Progress ▶ Increased Adjusted EBITDA guidance based on strong political revenues and disciplined expense management ▶ Political cycle off to a strong start $59M of 2Q political revenue highlights the strength of Sinclair’s broadcast footprint as the cycle builds ▶ 2026 F
Slide 13: Appendix
Appendix
Slide 14: Select Consolidated Financial Results
Select Consolidated Financial Results 14
Slide 15: Select Consolidated Financial Results (by Segment)
Select Consolidated Financial Results (by Segment) 15
Slide 16: Consolidated Statement of Operations
Consolidated Statement of Operations 16
Slide 17: Reconciliation of GAAP to Non-GAAP Financial Measures
Reconciliation of GAAP to Non- GAAP Financial Measures Sinclair, Inc. Consolidated Net Income to Consolidated Adjusted EBITDA 17
Slide 18: Reconciliation of GAAP to Non-GAAP Financial Measures
Reconciliation of GAAP to Non- GAAP Financial Measures Segment GAAP Operating Income to Segment Adjusted EBITDA 18
Slide 19: EdgeBeam: Building Commercial ATSC 3.0 Momentum & Network Scale
EdgeBeam: Building Commercial ATSC 3.0 Momentum & Network Scale The Power of One-to-Many Data Delivery Q2 2026 Key Takeaways ▶ Acquired Sinclair's Broadspan platform, accelerating integration of a national ATSC 3.0 data-delivery network ▶ Expanded digital-signage trials to 50 live screens across thr