Slide 1: August 3, 2023
August 3, 2023
Slide 2: Cautionary Statement Regarding Forward-Looking Statements
Cautionary Statement Regarding Forward-Looking Statements We have made statements in this document that are forward-looking statements within the meaning of the federal securities laws, including the Private Securities Litigation Reform Act of 1995. You can identify forward-looking statements by the
Slide 3: Second Quarter 2023 Highlights
Revenue: increased +4% as-reported Operating loss: $438 million includes $511 million impairment taken on U.S. Transit and Other Adj. OIBDA: $122 million Net loss: $479 million, including $511 million impairment AFFO: $78 million
Slide 4: Notes: $ Millions unless otherwise stated. Numbers may not sum due to rounding. See
Notes: $ Millions unless otherwise stated. Numbers may not sum due to rounding. See Appendix for Non-GAAP reconciliations.
Slide 5: Notes: $ Millions unless otherwise stated. Numbers may not sum due to rounding. See
Notes: $ Millions unless otherwise stated. Numbers may not sum due to rounding. See Appendix for Non-GAAP reconciliations.
Slide 6: Notes: Prior period presentation conforms to current reporting classifications. Local includes $0.5 million of
Notes: Prior period presentation conforms to current reporting classifications. Local includes $0.5 million of billboard condemnations in the three months ended June 30, 2023 and $0.4 million in the three months ended June 30, 2022. $ Millions unless otherwise stated. Numbers may not sum due to roun
Slide 7: Notes: Yield defined as reported revenue per average display per month for the quarter.
Notes: Yield defined as reported revenue per average display per month for the quarter. Numbers may not sum due to rounding. See Appendix for Non-GAAP reconciliations.
Slide 8: Notes: $ Millions unless otherwise stated. Numbers may not sum due to rounding. See
Notes: $ Millions unless otherwise stated. Numbers may not sum due to rounding. See Appendix for additional information, including digital revenues and displays calculation methodology.
Slide 9: Notes: $ Millions unless otherwise stated. Numbers may not sum due to rounding.
Notes: $ Millions unless otherwise stated. Numbers may not sum due to rounding.
Slide 10: Expenses
Yr/Yr % Chg Yr/Yr % Chg Yr/Yr 14.0% % Chg 2.7% 3.7% Yr/Yr Yr/Yr % Chg % Chg Yr/Yr 6.7% % Chg 1.6% 7.7% Notes: $ Millions unless otherwise stated. Percentages atop Total Expenses columns represent expense as a % of Total Revenues. 1) Corporate shown separately from SG&A and excludes stock-based compe
Slide 11: Notes: 1) Corporate expense shown separately from SG&A; SG&A excludes stock-based compensation expense. $
Notes: 1) Corporate expense shown separately from SG&A; SG&A excludes stock-based compensation expense. $ Millions unless otherwise stated. Numbers may not sum due to rounding. See Appendix for Non-GAAP reconciliations.
Slide 12: Notes: $ Millions unless otherwise stated. Numbers may not sum due to rounding. Transit
Notes: $ Millions unless otherwise stated. Numbers may not sum due to rounding. Transit refers to “Transit & Other”. See Appendix for Non-GAAP reconciliations. N/M: Not meaningful
Slide 13: Notes: $ Millions unless otherwise stated. Numbers may not sum due to rounding. See
Notes: $ Millions unless otherwise stated. Numbers may not sum due to rounding. See Appendix for additional information.
Slide 14: Notes: $ Millions unless otherwise stated. Numbers may not sum due to rounding. See
Notes: $ Millions unless otherwise stated. Numbers may not sum due to rounding. See Appendix for Non-GAAP reconciliations.
Slide 15: Debt Maturity Schedule and Leverage
2Q23 Weighted Average Cost of Debt 5.4% 1 Net Leverage Ratio 5.3x Notes: $ Millions unless otherwise stated. Reflects face value of debt. 1) Calculated as Total Debt less Cash divided by LTM “Consolidated EBITDA” (as defined in, and calculated in accordance with, the Credit Agreement governing the C
Slide 16: Outlook
OUTLOOK Le
Slide 17: Appendix
Appendix fiqaaat: it er es —
Slide 18: Non-GAAP Financial Measures
Non-GAAP Financial Measures In addition to the results prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) provided throughout this document, this document and the accompanying tables include non-GAAP financial measures as described below. We calculate
Slide 19: Non-GAAP Reconciliations: Three Months Ended June 30, 2023
NON-GAAP RECONCILIATIONS Three Months Ended June 30, 2023 (in millions, except percentages) U.S. Media Other Corporate Consolidated Revenues: Billboard $ 352.2 $ 19.4 $ — $ 371.6 Transit and other 90.8 6.4 _— 97.2 Total revenues $ 443.0 $ 25.8 $ — $ 468.8 Organic revenues'®): Billboard $ 348.4 $ 19.
Slide 20: Non-GAAP Reconciliations: Three Months Ended June 30, 2022
NON-GAAP RECONCILIATIONS Three Months Ended June 30, 2022 (in millions, except percentages) U.S. Media Other Corporate Consolidated Revenues: Billboard $ 332.1 $ 21.9 — $ 354.0 Transit and other 90.4 5.8 _— 96.2 Total revenues $ 422.5 $ 27.7 — $ 450.2 Organic revenues'): Billboard $ 329.7 $ 20.6 — $
Slide 21: Non-GAAP Reconciliation by Segment
For the three months ended June 30, 2022 For the three months ended June 30, 2023 U.S. Media U.S. Media Transit and Transit and Billboard Other Total Other Corporate Total Billboard Other Total Other Corporate Total Revenues $ 332.1 $ 90.4 $ 422.5 $ 27.7 $ - $ 450.2 $ 352.2 $ 90.8 $ 443.0 $ 25.8 $ -
Slide 22: Net Income to AFFO Reconciliation
Three Months Ended Twelve Months Ended Sep 30, Dec 31, Mar 31, Jun 30, Sep 30, Dec 31, Mar 31, Jun 30, Jun 30, Jun 30, (in millions) 2021 2021 2022 2022 2022 2022 2023 2023 2022 2023 Net income (loss) attributable to OUTFRONT Media Inc. $ 33.1 $ 71.1 $ (0.1) $ 48.0 $ 40.8 $ 59.2 $ (28.9) $ (478.9) $
Slide 23: Digital Revenues and Displays
Digital Revenues (in millions) for the (a) (a) three months ended June 30, 2023 Number of Digital Displays as of June 30, 2023 Digital Digital Transit Digital Digital Transit Total Digital Billboard and Other Total Digital Location Billboard and Other Revenues Displays Displays Displays United State
Slide 24: Notes: Numbers may not sum due to rounding; 1) Excludes stock-based compensation expense; 2)
Notes: Numbers may not sum due to rounding; 1) Excludes stock-based compensation expense; 2) For prior period reconciliations, please see prior period earnings presentations on the Investor Relations section of our website, www.outfront.com.
Slide 25: Digital Displays and Billboard Yield
2021 2022 2023 Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Q2 Total Digital Displays 10,759 10,975 12,371 14,368 14,368 15,760 16,719 17,252 18,046 18,046 19,100 20,729 U.S. 10,429 10,640 12,027 14,011 14,011 15,407 16,348 16,936 17,700 17,700 18,723 20,337 Billboard 1,258 1,302 1,327 1,401 1,401 1,432 1,519 1
Slide 26: Notes to Exhibits
NOTES TO EXHIBITS PRIOR PERIOD PRESENTATION CONFORMS TO CURRENT REPORTING CLASSIFICATIONS. (a) Organic revenues exclude revenues associated with a significant acquisition and the impact of foreign currency exchange rates (“non-organic revenues”). (b) In the three ended June 30, 2023, non-organic rev
Slide 27: About OUTFRONT Media Inc.
OUT LISTED NYSE About OUTFRONT Media Inc. OUTFRONT leverages the power of technology, location and creativity to connect brands with consumers outside of their homes through one of the largest and most diverse sets of billboard, transit, and mobile assets in North America. Through its technology pla