Tribune Publishing Investor Presentation — March 2020

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Investor Presentation

©2020 TRIBUNE PUBLISHING COMPANY. ALL RIGHTS RESERVED

The statements contained in this presentation include certain forward-looking statements within the meaning of Section 27A of the Securities Act of

1933 and Section 21E of the Securities Exchange Act of 1934 that are based largely on our current expectations and reflect various estimates and

assumptions by us. Forward-looking statements are subject to certain risks, trends and uncertainties that could cause actual results and

achievements to differ materially from those expressed in such forward-looking statements. Such risks, trends and uncertainties, which in some

instances are beyond our control, include, without limitation, changes in advertising demand, circulation levels and audience shares; competition and

other economic conditions; our ability to develop and grow our online businesses; changes in newsprint price and availability; our ability to maintain

data security and comply with privacy-related laws; economic and market conditions that could impact the level of our required contributions to the

defined benefit pension plans to which we contribute; decisions by trustees under rehabilitation plans (if applicable) or other contributing employers

with respect to multiemployer plans to which we contribute which could impact the level of our contributions; our ability to maintain effective

internal control over financial reporting; concentration of stock ownership among our principal stockholders whose interest may differ from those of

other stockholders; and other events beyond our control that may result in unexpected adverse operating results .

The words “believe,” “expect,” “anticipate,” “estimate,” “could,” “should,” “intend,” “may,” “will,” “plan,” “seek” and similar expressions generally

identify forward-looking statements. However, such words are not the exclusive means for identifying forward-looking statements, and their

absence does not mean that the statement is not forward looking. Whether or not any such forward-looking statements, in fact occur will depend on

future events, some of which are beyond our control. Readers are cautioned not to place undue reliance on such forward-looking statements, which

are being made as of the date of this presentation. Except as required by law, we undertake no obligation to update any forward-looking

statements, whether as a result of new information, future events or otherwise.

©2020 TRIBU NE PUBLISHING COMP ANY. ALL RIGHTS RESERVED2•Lehigh Valley (PA) - The Morning Call

•Tribune Content Agency (TCA)

q For the full year, Adjusted EBITDA1 is expected to be $100 million to $105