Ziff Davis, Inc. · NASDAQ:ZD

Ziff Davis — Investor Presentation (April 2026)

20 slides from Ziff Davis's investor presentation, Apr 15, 2026

1. Slide 1: Core Investor Presentation April 2026

   CORE INVESTOR PRESENTATION April 2026 ©2026 Ziff Davis. All rights reserved. www.ziffdavis.com 1

2. Slide 2: Safe Harbor for Forward-looking Statements

   Safe Harbor for Forward-looking Statements Certain statements in this presentation are “forward-looking statements” within the meaning of the Third-Party Information Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on Any third-party trademarks, including

3. Slide 3: Risk Factors

   Risk Factors Some factors that could cause actual results to differ materially from those expressed or implied by the forward-looking statements contained in this presentation include, but are not limited to, our ability and intention to: •Sustain growth or profitability, particularly in light of an

4. Slide 4: Investment Highlights

   Investment Highlights Portfolio of Digital Media & Internet Brands in High-Value Verticals Experts in Digital Transformation & Creators of Premium Content & Tools Highly Diversified & Recurring Revenues Across Advertising & Subscription Businesses Disciplined Capital Allocators with a Proven Track R

5. Slide 5: Experts in Transformation: From Analog to Digital and AI

   Experts in Transformation: From Analog to Digital and AI Ziff Davis has an established platform and playbook that takes advantage of the shift from analog to digital and the emerging AI opportunity Secular Shifts ANALOG DIGITAL AI Ziff Davis Advantage Proprietary Returns-based Deep bench Superior te

6. Slide 6: Reportable Segments

   Reportable Segments High-quality brands achieving profitable growth across our scaled verticals Revenue Reportable Segments % of Total 2025 Adjusted 2025 Adjusted 2025 Revenue CAGR(1) Key Brands Revenue EBITDA (1) EBITDA Margin (2020 – 2025) Technology & $356.6 25% 4.7% $113.8 31.9% Shopping Gaming

7. Slide 7: Robust and Balanced Monetization Formula

   Robust and Balanced Monetization Formula ideo Advertising V Pe $824MM ng rf or si m rti an ve Advertising and Performance ce Ad g & Perf. sin Ma Ma lay ti Marketing Revenue er rketi rk Disp Adv etin (FY 2025) ng g BUSINESS MODELS $599MM Softw a Lic Su ng tio n Dat bs cr si ip t e n c r ip ic are ens

8. Slide 8: Advertising: An Intent-Driven Model in High-Value Verticals

   Advertising: An Intent-Driven Model in High-Value Verticals Intent-Driven Authoritative editorial content and tools that instills confidence for important decisions Advertising 2.1K Customers(1) Actionable reviews, recommendations, how to’s, rankings, etc. (Q4 2025) $118K Participants in the most va

9. Slide 9: Strong Track Record of Expanding into Subscription Adjacencies

   Strong Track Record of Expanding into Subscription Adjacencies We leverage audience reach, traffic insights and domain expertise in existing verticals to actively pursue subscription adjacencies Existing Verticals Select Examples Technology Entertainment Technology Shopping Subscription Adjacency Cy

10. Slide 10: Subscriptions and Licensing: A Proven and Durable Model

    Subscriptions and Licensing: A Proven and Durable Model B2B Subscriptions / Licensing B2C Subscriptions • SMB and Enterprise subscriptions to access • Consumer/SOHO subscriptions to access content and use content, tools, and services; or and services • Recurring data-as-a-service and IP licensing •

11. Slide 11: Capital Allocation Framework Maximizes Shareholder Value

    Capital Allocation Framework Maximizes Shareholder Value Capital Allocation ➢ Acquire durable Capital Mergers & Share Expenditures Acquisitions Repurchases brands with strong cash-on-cash returns (1) (2) ~$825MM ~$3.3B ~$960MM Cumulative ➢ Balance M&A with Cumulative Cumulative Capital Expenditures

12. Slide 12: Acquisitions are Our Strategic Advantage

    Acquisitions are Our Strategic Advantage Cash Flywheel Core M&A Principles Transaction Types PLATFORM ACQUISITIONS Corporate Closely Sponsor- Ac Carveouts Held Backed nd Digital Large and pe Transformation Growing Verticals qu S isi A Public tion M& Growth Distressed Companies Integration North Dome

13. Slide 13: Strong Free Cash Flow Growth Supports Capital Allocation

    Strong Free Cash Flow Growth Supports Capital Allocation FCF growth has enhanced capital allocation flexibility. Since Consensus spinoff, ~60% of FCF has been deployed in stock repurchases, reducing share count by ~20%. Ziff Davis Free Cash Flow (TTM) ($ in MM) $283.7 $287.9 $261.2 $229.5 $231.3 $23

14. Slide 14: Historical Revenue by Segment

    Historical Revenue by Segment $ in 000’s Years ended December 31, 2023 2024 2025 CAGR Years ended December 3 (2023-2025) Technology & Shopping $ 330,557 $ 361,882 $ 356,596 3.9% % Growth 9.5% (1.5)% Gaming & Entertainment 168,821 180,276 183,558 4.3% % Growth 6.8% 1.8% Health & Wellness 361,923 362,

15. Slide 15: Historical Adjusted EBITDA by Segment

    Historical Adjusted EBITDA by Segment (1) $ in 000’s Years ended December 31, 2023 2024 2025 CAGR Years ended December 3 (2023-2025) Technology & Shopping $ 100,668 $ 121,392 $ 113,815 6.3% % Growth 20.6% (6.2)% Gaming & Entertainment 70,866 68,624 69,023 (1.3)% % Growth (3.2)% 0.6% Health & Wellnes

16. Slide 16: Appendix

    Appendix ©2026 Ziff Davis. All rights reserved. www.ziffdavis.com 16

17. Slide 17: Non-GAAP Reconciliation: Adjusted Revenues

    Non-GAAP Reconciliation: Adjusted Revenues $ in 000's 2020 2021 Revenues GAAP Revenues - Cybersecurity & Martech $ 347,699 $ 348,246 Adjustments for divested businesses (68,146) (33,496) Total Adjusted Revenues - Cybersecurity & Martech $ 279,553 $ 314,750 GAAP Revenues - Consolidated $ 1,158,829 $

18. Slide 18: Non-GAAP reconciliation: Adjusted EBITDA

    Non-GAAP reconciliation: Adjusted EBITDA $ in 000's Ziff Davis Year ended December 31, 2025 2025 2024 2023 Net income $ 47,354 $ 63,047 $ 41,503 Interest expense, net 25,910 13,988 20,031 Loss on sale of businesses 57,988 3,780 — (Gain) loss on investment, net (5,018) 7,654 28,138 Provision for cred

19. Slide 19: Non-GAAP reconciliation: Adjusted EBITDA by Segment

    Non-GAAP reconciliation: Adjusted EBITDA by Segment Technology & Gaming & Health & Wellness Connectivity Cybersecurity & Corporate (1) Total Shopping Entertainment Martech FY 2025 $ in 000's Revenues $ 356,596 $ 183,558 $ 402,353 $ 230,733 $ 278,028 $ — $ 1,451,268 Income (loss) from operations $ 9,

20. Slide 20: Non-GAAP reconciliation: Adjusted EBITDA by Segment

    Non-GAAP reconciliation: Adjusted EBITDA by Segment Technology & Gaming & Health & Wellness Connectivity Cybersecurity & Corporate (1) Total Shopping Entertainment Martech FY 2023 $ in 000's Revenues $ 330,557 $ 168,821 $ 361,923 $ 211,518 $ 291,209 $ — $ 1,364,028 Income (loss) from operations $ (5

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