Ms. Heidi Kucher reports

CORUS ENTERTAINMENT ANNOUNCES SEPTEMBER 2022 INVESTOR CONFERENCE SCHEDULE AND PROVIDES OUTLOOK UPDATES

Corus Entertainment Inc. has released its investor conference schedule for September, 2022.

Doug Murphy, president and chief executive officer of Corus Entertainment, will participate in the 23rd annual BMO Media & Telecom Conference in Toronto, Ont., on Sept. 13, 2022, at 11:45 a.m. ET and in the 21st annual CIBC Eastern Institutional Investor Conference in Montreal, Que., on Sept. 21, 2022, at 10:35 a.m. ET.

Further information is available on the events and presentations page in the investor relations section of the Corus website.

Risk factors and outlook updates

Corus is also providing the following updates in respect of its risk factors and outlook in light of the most recent developments relating to macroeconomic and other factors discussed below. Please refer to the sections "Risks and Uncertainties" and "Seasonal Fluctuations" in the company's management's discussion and analysis for the year ended Aug. 31, 2021; the section under the heading "Risk Factors" in the annual information form for the year ended Aug. 31, 2021; and the sections "Risks and Uncertainties" and "Seasonal Fluctuations" in the report to shareholders for the three and nine months ended May 31, 2022, for a complete discussion of risk factors and uncertainties that may affect the company.

As discussed in the prior MD&As, the company's operating performance is affected by Canadian and worldwide economic conditions and is subject to seasonal fluctuations that can significantly impact quarter-to-quarter operating results. In the past quarter, the macroeconomic environment became increasingly uncertain, characterized by heightened risk of recession, persistently high inflation and continuing supply chain constraints. These factors have contributed to recent contractions in advertising demand and spending across the North American media industry.

Also, as discussed in the prior MD&As, disruptions caused by the prior imposition of public health restrictions, public sentiment about the pandemic, and continuing COVID-19 infection rates can negatively impact the company's operations and financial performance. The company continued to be impacted by pandemic-related conditions in the past quarter, primarily due to disruptions to consumer behaviour patterns and supply chains affecting both product and service advertising categories.

In the near term, the company expects the complex macroeconomic environment and continuing pandemic-related impacts to continue to put pressure on advertising revenues. Combined with general advertising spending and seasonal revenue cycles discussed in the prior MD&As, the company currently expects meaningful year-over-year softness in television advertising revenue. Corus believes it remains well positioned to create value over the long-term as the company continues investing in its businesses to advance its strategic plan and priorities.

About Corus Entertainment Inc.

Corus Entertainment is a leading media and content company that develops and delivers high-quality brands and content across platforms for audiences around the world. Engaging audiences since 1999, the company's portfolio of multimedia offerings encompass 33 specialty television services, 39 radio stations, 15 conventional television stations, a suite of digital and streaming assets, animation software, technology and media services. Corus is an internationally renowned content creator and distributor through Nelvana, a world-class animation studio expert in all formats, and Corus Studios, a globally recognized producer of hit scripted and unscripted content. The company also owns innovative full-service social digital agency so.da, lifestyle entertainment company Kin Canada, leading 2-D animation software supplier Toon Boom and children's book publishing house, Kids Can Press. Corus's roster of premium brands includes Global Television, W Network, HGTV Canada, Food Network Canada, Magnolia Network Canada, The History Channel, Showcase, Adult Swim, National Geographic, Disney Channel Canada, YTV, Global News, Globalnews.ca, Q107, Country 105 and CFOX, along with broadly distributed Canadian streaming platforms Stacktv, Teletoon+, the Global TV application and Curiouscast.

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