• Q1 revenue growth +7% in Australia, +4% for the group
• Operational Excellence program to deliver $12M in annualized pre-tax savings from FY27
• 1H gross margin to be softer than anticipated due to industry-wide pressure on Billboards

oOh!Media Limited (ASX:OML) provides a strategy and trading update, reporting Q1 revenue growth of 7% in Australia and 4% for the group, slightly ahead of February projections. The company's strategic execution continues, with the launch of an Operational Excellence program and the exit of its reo (retail media) investment delivering a 9% headcount reduction and $12 million in annualized pre-tax cash savings from FY27, alongside the rollout of MOVE driving improved Retail OOH performance. However, 1H gross margin will be softer than anticipated, driven by industry-wide pressure on Billboards. Underlying adjusted opex for 1H is expected to be slightly lower than the prior corresponding period, with one-offs in 1H to cost circa $6 million to deliver targeted savings. CY2026 capex is expected to be between $45 million and $55 million, with gearing at or below 1.0X. The company also provides materials for its 2026 Annual General Meeting, including addresses from the Chair, CEO, and other senior executives.

CY2026 capex expected to be between $45M and $55M, with gearing at or below 1.0X.

The Out of Home sector continues to benefit from strong structural growth, and oOh!Media is executing its strategy to cement its market leadership. The launch of MOVE is a growth catalyst, demonstrating the superior quality and unmatched scale of the company's network to advertisers. While noting some advertiser uncertainty given the broader macro environment, oOh!Media is pleased with its overall outlook.