Ms. Heidi Kucher reports

CORUS ENTERTAINMENT ANNOUNCES AMENDED AND RESTATED CREDIT FACILITY

Corus Entertainment Inc. has completed an agreement to amend and restate its existing syndicated, senior secured credit facilities with its bank group, led by RBC Capital Markets and TD Securities, as co-leads. The restated credit facility was amended and restated to, among other things, reduce the total limit on the revolving facility to $150-million from $300-million, with ability for the company to request advances up to $65-million, and increase the maximum total debt to cash flow ratio required under the financial covenants to 5.75 through to and including Dec. 31, 2024, and 7.25 from Jan. 1, 2025, through to and including March 31, 2025. There continue to be requirements for the company to use any excess cash to repay outstanding balances on the revolving facility. Certain other terms relating to the use of proceeds on asset disposals, the ability to incur certain indebtedness and reporting requirements have also been updated. The maturity date for the restated credit facility is now March 18, 2026.

All terms are as defined in the restated credit facility.

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

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 32 specialty television services, 37 radio stations, 15 conventional television stations, digital and streaming platforms, and social digital agency and media services.

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