• Structural tailwinds continue driving strong growth in Out of Home (OOH) advertising
• Record underlying results, excluding $30m Auckland Transport impairment
• Diversified and well-balanced lease expiry profile supporting sustainable revenue streams

oOh!media Limited reported a strong performance in the first half of 2025, with statutory revenue growth of 17% and adjusted underlying EBITDA growth of 27% compared to the prior corresponding period. The company's diversified lease expiry profile, with no single contract representing more than 5% of revenue, and over 50% of revenue extending beyond 2029, provides a strong foundation for sustainable growth. oOh! has also secured over $90 million in new annualized contracts since 2023, including the Transurban Melbourne deal in May 2025. The company's operational cost savings have enabled investment for growth, contributing to strong fixed cost leverage. Sales execution improvements, including strengthening the senior sales team and aligning sales, product, and marketing, have also driven wins in key customer commitment volumes. While the company reported a statutory net loss after tax of $11.3 million due to a $30 million impairment related to the Auckland Transport contract, its adjusted underlying net profit after tax increased by 46% to $26.5 million. oOh! expects Out of Home to continue taking revenue share from other media sectors, with the sector expected to grow by mid to high single digits in the second half of 2025.

Full year operating costs expected to be $159m to $161m, with higher variable incentives based on stronger revenue and EBITDA performance. CY2025 capex expected to be between $53M and $63M. Gearing expected to remain within target, below 1.0X adjusted underlying EBITDA.

Out of Home is expected to continue taking revenue share from other media sectors, with the sector expected to grow by mid to high single digits in 2H25. The company expects to reset the New Zealand cost base down by $6m to $7m annualized from Q4 2025, with full run rate from Q2 2026. James Taylor is expected to commence as CEO late 2025 / early 2026.