Postmedia to Extend Maturity and Reduce the Interest Rate of its Second Lien Notes

TORONTO--(BUSINESS WIRE)--Postmedia Network Canada Corp. (“Postmedia” or the “Company”) announced today that it has entered into a definitive agreement with Chatham Asset Management and its affiliates (collectively, “Chatham”) providing for (i) the extension of the maturity of its second lien notes (the “Notes”) by approximately two years from November 28, 2028 to November 30, 2030, and (ii) the reduction of the interest rate payable under the Notes from 10.25% and 11.25% respectively, to 2.25%. These amendments are subject to customary closing conditions.

“This agreement reflects Chatham’s continued support of Postmedia,” said Andrew MacLeod, President and Chief Executive Officer of Postmedia. “The improved terms provide us with a solid foundation for continued investment in our digital future and greater flexibility as we invest in various revenue opportunities supporting long-term growth.”

About Postmedia Network Canada Corp.

Postmedia Network Canada Corp. (TSX:PNC.A, PNC.B) is the holding company that owns Postmedia Network Inc., a Canadian newsmedia and logistics company, representing more than 110 brands across multiple print and digital platforms and operating a diversified distribution and delivery business. Award-winning journalists and innovative product development teams bring engaging content to millions of people every week whenever and wherever they want it. This exceptional content, reach and scope offers advertisers and marketers compelling solutions to effectively reach target audiences. Our expertise in delivery and expanding distribution network powers Postmedia Parcel Services and Postmedia Distribution Solutions. For more information, visit www.postmedia.com, www.postmediasolutions.com, www.postmediaparcelservices.com, and www.postmediadistributionsolutions.com.

Forward-Looking Information

This news release may include information that is “forward-looking information” under applicable Canadian securities laws. The Company has tried, where possible, to identify such information and statements by using words such as “believe,” “expect,” “intend,” “estimate,” “anticipate,” “may,” “will,” “could,” “would,” “should” and similar expressions and derivations thereof in connection with any discussion of future events, trends or prospects or future operating or financial performance. Forward-looking statements in this news release include statements with respect to the amendments to the Notes. By their nature, forward-looking information and statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. These risks and uncertainties include, among others, that the closing conditions to the amendments to the Notes are not satisfied or waived.

For a complete list of our risk factors please refer to the section entitled “Risk Factors” contained in our annual management’s discussion and analysis for the years ended August 31, 2025 and 2024. Although the Company bases information and statements in this press release on assumptions believed to be reasonable when made, including that the closing conditions to the amendments to the Notes will be satisfied, they are not guarantees of future performance and actual results of operations, financial condition and liquidity. Given these risks and uncertainties, undue reliance should not be placed on any forward-looking information or forward-looking statements, which speak only as of the date of such information or statements. Other than as required by law, the Company does not undertake, and specifically declines, any obligation to update such information or statements or to publicly announce the results of any revisions to any such information or statements.