Mr. John Gossling reports

CORUS PROVIDES UPDATE REGARDING CREDIT FACILITY

Corus Entertainment Inc. provided an update today that it is continuing to productively engage with the members of the bank group for its sixth amended and restated credit agreement, led by RBC Capital Markets and TD Securities as co-leads (as amended from time to time, the credit facility). In conjunction with its fourth quarter and year-end financial reporting on Oct. 25, 2024, the company currently expects to provide further updates regarding any changes to the terms of the credit facility. Corus continues to have access to the credit facility pursuant to an amendment to the credit facility on the previously disclosed terms.

• Company continues to have access to credit facility; currently expects to provide a further update regarding the credit facility with upcoming fourth quarter and year-end financial results disclosure.

"In addition to the progress we have made in our discussions with the credit facility syndicate members, we are making strides in advancing our comprehensive plan to strengthen our balance sheet and manage liabilities," said John Gossling, co-chief executive officer and chief financial officer. "Corus continues to execute our business strategy, developing and delivering exceptional brands and content, growing our valuable, core assets, such as the newly announced Flavour Network and Home Network, and working with our many partners who recognize the strength of Corus's fundamentals."

A copy of the amendment to the credit facility will be filed under the company's profile on SEDAR+.

About Corus Entertainment Inc.

Corus 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 32 specialty television services, 37 radio stations, 15 conventional television stations, digital and streaming platforms, and social digital agency and media services. Corus's roster of premium brands includes Global Television, W Network, Flavour Network and Home Network (launching soon), The History Channel, Showcase, Adult Swim, National Geographic, and Global News, along with streaming platforms StackTV, Teletoon+, the Global TV app and Curiouscast. Corus is also the domestic advertising representative and an original content partner for Pluto TV, a Paramount company, which is the leading free ad-supported streaming television (FAST) service. Corus is an internationally renowned content creator, producer and distributor through Corus Studios and Nelvana.

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