Settlement of legal proceedings with Mr Sandilands

• ARN Media Ltd has reached a settlement with Mr. Kyle Sandilands
• Settlement sum of $12.09 million to be paid until June 2029
• Sandilands will not provide services to ARN Media Ltd anymore
• ARN will provide advertising services worth $1.5 million over three years
• Sandilands restricted from engaging with ARN's competitors until March 2027

ARN Media Ltd [ASX: A1N] has resolved its legal dispute with Mr. Kyle Sandilands, agreeing to a binding settlement. The settlement includes a cash payment of $12.09 million, with $3 million due in July 2026 and the remaining amount paid monthly until June 2029. Mr. Sandilands will not provide any services to ARN Media Ltd in the future and plans to pursue independent media opportunities. ARN Media Ltd will provide advertising services worth $1.5 million over the next three years. Additionally, ARN Media Ltd will receive a 19.9% net revenue share from Sandilands' new venture for up to three years, subject to certain revenue thresholds and caps. Mr. Sandilands is also restricted from engaging with ARN Media Ltd's direct competitors for up to nine months from the settlement date, expiring in March 2027.