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Press Releases Back to News Back to News Montreal (Quebec), June 1, 2021 — Yellow Pages Limited (TSX: Y) (the “Company”), a leading Canadian digital media and marketing company, declares a quarterly cash dividend(1) and confirms the full redemption of its Exchangeable Debentures at par, plus accrued and unpaid interest, an amount that totals $111,314,320. “As we announced on April 23, 2021, we are pleased to confirm that the Company fully redeemed its Exchangeable Debentures yesterday and now has officially reached the milestone of becoming debt-free” said David A. Eckert, President and CEO of Yellow Pages Limited. “Further, the Board of Directors has declared a cash dividend of $0.15 per common share, payable on June 30, 2021 to shareholders of record as at June 9, 2021”. (1) The dividend will be designated as an eligible dividend pursuant to subsection 89(14) of the Income Tax Act (Canada) and any applicable provincial legislation pertaining to eligible dividends. About Yellow Pages Limited Yellow Pages Limited (TSX: Y) is a Canadian digital media and marketing company that creates opportunities for buyers and sellers to interact and transact in the local economy. Yellow Pages holds some of Canada’s leading local online properties including YP.ca , Canada411 and 411.ca . The Company also holds the YP, Canada411 and 411 mobile applications and Yellow Pages print directories. For more information visit www.corporate.yp.ca . Contacts:Investors Franco SciannambloSenior Vice-President and Chief Financial Officerinvestors@yp.ca Media Treena CooperSenior Vice-President, Secretary and General Counselcommunications@yp.ca Yellow Pages Limited Declares a Cash Dividend and Confirms the Full Redemption of Exchangeable Debentures Back to News Print Print

Press Releases Back to News Back to News Montreal (Quebec), November 12, 2020 — Yellow Pages Limited (TSX: Y) (the “Company”), a leading Canadian digital media and marketing company, released its operating and financial results today for the quarter and nine-month periods ended September 30, 2020. “We are very pleased with our third quarter results and how our Company continues to cope with the COVID-19 pandemic and build for the future,” said David A. Eckert, President and CEO of Yellow Pages Limited. Eckert commented on the key developments for the quarter: Cash continued to build. “As of today, our cash on hand is approximately $137 million. This balance already significantly exceeds the $107 million principal amount of our Exchangeable Debentures, which are our only remaining debt, excluding lease obligations. As previously announced, we intend to fully pay off those Exchangeable Debentures, at par, on or around May 31, 2021.” Quarterly cash dividend2 declared. “Our Board has declared a cash dividend of $0.11 per common share, to be paid on December 15, 2020 to shareholders of record as of November 27, 2020.” Common stock NCIB effective. “Under our NCIB program, at the end of the third quarter the Company had purchased 99,280 common shares for cash of $1.1 million. That program is continuing.” Modest effect of COVID-19 crisis on revenue. “All of our operations have continued unabated since the COVID-19 crisis began. And the effect of the crisis on our revenues in the third quarter was again only a handful of percentage points. Bookings trends indicate only modest additional effects on our revenue curve over the next couple of quarters, as the sales levels already booked become reported revenue.” Progress on revenue initiatives. “We are on track to double our tele-sales capacity by the end of the year, aimed at significantly ramping up our acquisition of new accounts. And we are executing on our programs to add to our strong product portfolio.” Solid quarterly earnings. “Our Adjusted EBITDA1 for the quarter was a healthy 34% of revenue, despite the COVID-19 crisis, our investments in revenue initiatives, and some 1-time expenses. We are committed to generating good cash and profitability, while making the targeted investments necessary to bend our revenue curve toward stability.” (1) Adjusted EBITDA is equal to Income from operations before depreciation and amortization and restructuring and other charges (defined herein as Adjusted EBITDA), as shown in Yellow Pages Limited’s consolidated statements of income. Adjusted EBITDA, Adjusted EBITDA margin, CAPEX, Adjusted EBITDA less CAPEX, Adjusted EBITDA less CAPEX margin and Net debt excluding lease obligations are non-GAAP financial measures and do not have any standardized meaning under IFRS. Therefore, they are unlikely to be comparable to similar measures presented by other public companies. Refer to the section on Non-GAAP financial measures on page 4 of this document for more details. (2) The dividend will be designated as an eligible dividend pursuant to subsection 89(14) of the Income Tax Act (Canada) and any applicable provincial legislation pertaining to eligible dividends. Third Quarter of 2020 Results Adjusted EBITDA less CAPEX1 totaled $26.0 million and the EBITDA less CAPEX margin1 was 32.4%. Net earnings decreased by $4.8 million to $9.0 million, or $0.34 per diluted share. Cash position at the end of the period was $124.5 million and approximately $137.0 million as at November 11, 2020. Segmented Information The Company’s operations are categorized into two reportable segments: YP and other. The YP segment provides small and medium-sized businesses across Canada digital and traditional marketing solutions, including online and mobile priority placement on Yellow Pages’ owned and operated media, content syndication, search engine solutions, website fulfillment, social media campaign management and digital display advertising, video production and print advertising. This segment also includes the 411.ca digital directory service helping users find and connect with people and local businesses. The Other segment includes YP Dine digital property until its sale on April 30, 2019 and the Mediative division until its liquidation on January 31, 2019 An overview of each segment and the performance of each segment for the three and nine-month periods ended September 30, 2020 and 2019 can be found in the November 12, 2020 Management’s Discussion and Analysis. Financial Results for the Third Quarter of 2020 Revenues for the YP segment for the third quarter of 2020 decreased by $17.8 million or 18.2% year-over year and amounted to $80.3 million compared to $98.1 million for the same period last year. The decrease for the quarter ended September 30, 2020 is due to the decline of our higher margin YP digital media and print products and to a lesser extent to our lower margin digital services products, thereby creating pressure on our gross profit margins. Revenues for the third quarter of 2020 were also impacted by the COVID-19 pandemic which impacted customer spend and to a lesser extent customer renewal rates. Adjusted EBITDA for the YP segment for the three-month period ended September 30, 2020 totaled $27.3 million or 34.0% of revenues compared to $37.8 million or 38.5% of revenues for the same period last year. The decrease in Adjusted EBITDA and Adjusted EBITDA margin in the third quarter ended September 30, 2020 is the result of the revenue pressures in the YP segment as well as certain one-time items partially offset by efficiencies in sales and operations from optimization and reductions in other operating costs including reductions in our workforce and associated employee expenses, reduction in the Company’s office space footprint and other spending reductions across the segment. The one-time items include a $4.0 million increase for the expense related to the vesting of the CEO’s long term incentive plan (LTIP) upon completion of his first contract term in the third quarter of 2020, resulting from the increase in the Company’s share price, partially offset by a $1.2 million emergency wage subsidy received during thethree-month period ended September 30, 2020. Continued modest effects on revenue of the COVID-19 pandemic, coupled with increased headcount in our salesforce, will create some pressure on margin in upcoming quarters. Total revenues for the third quarter ended September 30, 2020 decreased by 18.2% year-over-year and amounted to $80.3 million as compared to $98.1 million for the same period last year. Adjusted EBITDA1 decreased by 27.7% to $27.3 million or 34.0% of revenues in the third quarter ended September 30, 2020, relative to $37.8 million or 38.5% of revenues for the same period last year. Adjusted EBITDA less CAPEX decreased by $9.4 million to $26.0 million during the third quarter of 2020, compared to $35.4 million during the same period last year. Net earnings for the three-month period ended September 30, 2020, amounted to $9.0 million as compared to net earnings of $13.8 million for the same period last year. The decrease in profitability of $4.8 million for the three-month period ended September 30, 2020, compared to the same period last year, is explained principally by lower Adjusted EBITDA and an increase in restructuring and other charges partially offset by decreases in financial charges and depreciation and amortization expenses. 1) Adjusted EBITDA is equal to Income from operations before depreciation and amortization and restructuring and other charges (defined herein as Adjusted EBITDA), as shown in Yellow Pages Limited’s consolidated statements of income. Adjusted EBITDA, Adjusted EBITDA margin, CAPEX, Adjusted EBITDA less CAPEX, Adjusted EBITDA less CAPEX margin and Net debt excluding lease obligations are non-GAAP financial measures and do not have any standardized meaning under IFRS. Therefore, they are unlikely to be comparable to similar measures presented by other public companies. Refer to the section on Non-GAAP financial measures on page 4 of this document for more details. Cash flows from operating activities decreased by $17.9 million to $32.7 million for the three-month period ended September 30, 2020 from $50.6 million for the same period last year, mainly due to lower Adjusted EBITDA1 of $10.5 and a reduction of $6.3 million from the change in operating assets and liabilities, as 2019 benefited by the collection of Juice and Mediative accounts receivable. As at September 30, 2020, the Company had $153.9 million of total debt, compared to $156.4 million as at December 31, 2019. As at September 30, 2020, the Company had ($24.0) million net debt excluding lease obligations1, compared to $54.1 million net debt excluding lease obligations as at December 31, 2019. Conference Call & Webcast Yellow Pages Limited will hold an analyst and media call and simultaneous webcast at 8:30 a.m. (Eastern Time) on November 12, 2020 to discuss third quarter 2020 results. The call may be accessed by dialing 416-695-6725 within the Toronto area, or 1-866-696-5910 outside of Toronto, Passcode # 8902057. Please be prepared to join the conference at least 5 minutes prior to the conference start time. The call will be simultaneously webcast on the Company’s website at: https://corporate.yp.ca/en/investors/financial-reports . The conference call will be archived in the Investors section of the site at: https://corporate.yp.ca/en/investors/financial-events-presentations . About Yellow Pages Limited Yellow Pages Limited (TSX: Y) is a Canadian digital media and marketing company that creates opportunities for buyers and sellers to interact and transact in the local economy. Yellow Pages holds some of Canada’s leading local online properties including YP.ca , Canada411 and 411.ca . The Company also holds the YP, Canada411 and 411 mobile applications and Yellow Pages print directories. For more information visit www.corporate.yp.ca . Caution Concerning Forward-Looking Statements This press release contains forward-looking statements about the objectives, strategies, financial conditions, including potential full repayment of the Company’s remaining exchangeable debentures on or shortly after May 31, 2021, at par; to its common shareholders, a cash dividend payment of $0.11 per share per quarter; and results of operations and businesses of the Company. These statements are forward-looking as they are based on our current expectations, as at November 11, 2020, about our business and the markets we operate in, and on various estimates and assumptions. Our actual results could materially differ from our expectations if known or unknown risks affect our business, or if our estimates or assumptions turn out to be inaccurate. As a result, there is no assurance that any forward-looking statements will materialize. Risks that could cause our results to differ materially from our current expectations are discussed in section 5 of our November 11, 2020 Management’s Discussion and Analysis. We disclaim any intention or obligation to update any forward-looking statements, except as required by law, even if new information becomes available, as a result of future events or for any other reason. Contacts: Investors Franco Sciannamblo Senior Vice-President and Chief Financial Officer investors@yp.ca Media John Ireland Senior Vice-President, Organizational Effectiveness communications@yp.ca 1) Adjusted EBITDA is equal to Income from operations before depreciation and amortization and restructuring and other charges (defined herein as Adjusted EBITDA), as shown in Yellow Pages Limited’s consolidated statements of income. Adjusted EBITDA, Adjusted EBITDA margin, CAPEX, Adjusted EBITDA less CAPEX, Adjusted EBITDA less CAPEX margin and Net debt excluding lease obligations are non-GAAP financial measures and do not have any standardized meaning under IFRS. Therefore, they are unlikely to be comparable to similar measures presented by other public companies. Refer to the section on Non-GAAP financial measures on page 4 of this document for more details. Non-GAAP Financial Measures Adjusted EBITDA and Adjusted EBITDA margin In order to provide a better understanding of the results, the Company uses the terms Adjusted EBITDA and Adjusted EBITDA margin. Adjusted EBITDA is equal to Income from operations before depreciation and amortization and restructuring and other charges (defined herein as Adjusted EBITDA), as shown in Yellow Pages Limited’s interim condensed consolidated statements of income. Adjusted EBITDA margin is defined as the percentage of Adjusted EBITDA to revenues. Adjusted EBITDA and Adjusted EBITDA margin are not performance measures defined under IFRS and are not considered an alternative to income from operations or net earnings in the context of measuring Yellow Pages performance. Adjusted EBITDA and Adjusted EBITDA margin do not have a standardized meaning under IFRS and are therefore not likely to be comparable to similar measures used by other publicly traded companies. Adjusted EBITDA and Adjusted EBITDA margin should not be used as exclusive measures of cash flow since they do not account for the impact of working capital changes, income taxes, interest payments, pension funding, capital expenditures, business acquisitions, debt principal reductions and other sources and uses of cash, which are disclosed on page 17 of this MD&A. Management uses Adjusted EBITDA and Adjusted EBITDA margin to evaluate the performance of its business as it reflects its ongoing profitability. Management believes that certain investors and analysts use Adjusted EBITDA and Adjusted EBITDA margin to measure a company’s ability to service debt and to meet other payment obligations or as common measurement to value companies in the media and marketing solutions industry as well as to evaluate the performance of a business. Adjusted EBITDA less CAPEX and Adjusted EBITDA less CAPEX margin The Company also uses Adjusted EBITDA less CAPEX, which is defined as Adjusted EBITDA, as defined above, less CAPEX which we define as additions to intangible assets and additions to property and equipment as reported in the Investing Activities section of the Company’s interim condensed consolidated statements of cash flows. Adjusted EBITDA less CAPEX margin is defined as the percentage of Adjusted EBITDA less CAPEX to revenues. Adjusted EBITDA less CAPEX and Adjusted EBITDA less CAPEX margin are non-IFRS financial measures and do not have any standardized meaning under IFRS. Therefore, are unlikely to be comparable to similar measures presented by other publicly traded companies. We use Adjusted EBITDA less CAPEX and Adjusted EBITDA less CAPEX margin to evaluate the performance of our business as it reflects cash generated from business activities. We believe that certain investors and analysts use Adjusted EBITDA less CAPEX and Adjusted EBITDA less CAPEX margin to evaluate the performance of businesses in our industry. The most comparable IFRS financial measure to Adjusted EBITDA less Capex is Income from operations before depreciation and amortization and restructuring and other charges (defined above as Adjusted EBITDA) as shown in Yellow Pages Limited’s interim condensed consolidated statements of income. Refer to page 5 and page 11 of the November 11, 2020 MD&A for a reconciliation of CAPEX and Adjusted EBITDA less CAPEX, respectively. Net debt excluding lease obligations Net debt excluding lease obligations is a non-GAAP financial measure and does not have any standardized meaning under IFRS. Therefore, it is unlikely to be comparable to similar measures presented by other publicly traded companies. Net debt excluding lease obligations is comprised of Exchangeable debentures less Cash as presented in our consolidated statements of financial position. We use net debt as indicator of the Company's ability to cover financial obligations and reduce debt and associated interest charge as it represents the amount of debt excluding lease obligations that is not covered by available cash. We believe that certain investors and analysts use net debt to determine a company’s financial leverage. The most comparable IFRS financial measure is total debt, as presented in the capital disclosures note on page 49 of our Audited consolidated financial statements for the years ended 2019 and 2018. The table below provides a reconciliation of total debt to net debt excluding lease obligations. Yellow Pages Limited Reports Solid Financial and Operating Results in Third Quarter 2020 and Declares a Cash Dividend Back to News Print Print

Back to Events Q1 2014 Financial and Operational Results and 2014 Annual General Meeting Add to my Calendar Management's Discussion and Analysis (207.0 KB) Financial Statements (117.7 KB) Supplemental Disclosure (685.7 KB) Fact Sheet (3.7 MB) Webcast of the Conference Call Back to Events Events

Press Releases Back to News Back to News Montreal (Quebec), January 15, 2025 — Yellow Pages Limited (TSX: Y) (“Yellow Pages” or the “Company”), a leading Canadian digital media and marketing company, is pleased to announce the winner of its nationwide art competition “Our Cover, Your Canvas”. The theme of the competition was Discover, Shop & Support Your Local Community . “We were overwhelmed with the number of entries we received as well as the quality and talent of these submissions. The emotional connection that these artists feel toward their local communities and the businesses that are the backbone of Canada was evident through their pieces of art. We could not be prouder to be showcasing beautiful artwork on our 2025 cover,” said Sherilyn King, Senior Vice President of Sales, Marketing, and Customer Service at Yellow Pages . “Thank you to all those who submitted pieces and sincere congratulations to Brenda Turnour as the first winner of our 2025 Yellow Pages Directory Cover Competition.” One of our 2025 covers featuring the winning artwork of our contest Brenda Turnour, the first winner of our 2025 Yellow Pages Directory Cover Competition Brenda Turnour is a fourth-generation artist who sold her first oil painting at the age of 12 and since then has been painting, teaching and judging art. She is a past President of the Central Ontario Art Association. Brenda owns a gallery and studio in Huntsville, Ontario. Additionally, we would like to recognize Shannon Delaney and Sophie Paisley at Ladysmith Arts in British Columbia, www.ladysmitharts.ca , for the cardboard collage submitted by their elementary school students. This mural was created by an amazing group of students between six and eight years of age to celebrate their community of Ladysmith, BC. It captures some of the features that they think best represent their town. Pictured here, from left to right are Zoë, Parker, Olive, Gavin and Kacen. Missing from the photo are Xavier and Magnus. A stunning mural by the talented students of Ladysmith Arts Elementary School, British Columbia Prize: With nearly six million Yellow Pages directories distributed throughout Canada, Brenda will have her artwork featured on the front cover of selected Yellow Pages print directories starting in January 2025 through June 2025. The deadline for entries for directory covers in the second half of 2025 is still open. Artists across the country are encouraged to send their submissions by April 30, 2025 at 11:59 pm EST. www.ypsolutions.ca/submissions Given the overwhelming success of this first nationwide directory cover competition, Yellow Pages now invites you to participate in our competition for the 2026 cover. See your local 2025 Yellow Pages’ directory for the details. About Yellow Pages: Yellow Pages Limited (TSX: Y) is a Canadian digital media and marketing company that creates opportunities for buyers and sellers to interact and transact in the local economy. Yellow Pages holds some of Canada’s leading local online properties including YP.ca , Canada411 and 411.ca . The Company also holds the YP, Canada411 and 411 mobile applications and Yellow Pages print directories. For more information visit www.corporate.yp.ca . Media Contact: Sherilyn King Senior Vice President- Sales, Marketing and Customer Service media@yp.ca Yellow Pages announces first winner of its 2025 directory cover competition Back to News Print Print

Press Releases Back to News Back to News Montreal (Quebec), May 11, 2023 — Yellow Pages Limited (TSX: Y) (the “Corporation”) announced the results of its Annual General Meeting of Shareholders (“AGM”) held virtually today. The Corporation is pleased to announce that all resolutions presented at the AGM were duly passed. About Yellow Pages Limited Yellow Pages Limited (TSX: Y) is a Canadian digital media and marketing company that creates opportunities for buyers and sellers to interact and transact in the local economy. Yellow Pages holds some of Canada’s leading local online properties including YP.ca , Canada411.ca , and 411.ca . The Company also holds the YP, Canada411, and 411 mobile applications and Yellow Pages print directories. For more information visit www.corporate.yp.ca . Contacts: Investors and Media Franco Sciannamblo Senior Vice President and Chief Financial Officer Investors@yp.ca Communications@yp.ca Yellow Pages Limited Reports on Voting Results at its Annual General Meeting of Shareholders Back to News Print Print

Press Releases Back to News Back to News Montreal (Quebec), February 12, 2026 - Yellow Pages Limited (TSX: Y) (the “Company”), a leading Canadian digital media and marketing company, released its operating and financial results today for the quarter and year ended December 31, 2025. “In the fourth quarter, we delivered good profitability, strong cash balance and continued momentum across our revenue initiatives,” said Sherilyn King, President and CEO of Yellow Pages Limited. King commented on the key developments: Continued progress on revenue initiatives. “We continue to see encouraging progress on key revenue drivers as the decline rate of total revenues, digital revenues and print revenues all improved year-over-year. The total revenues decline of 7.4% for 2025 compares to 10.3% reported for 2024.” Good quarterly earnings. “Our Adjusted EBITDA 2 for the quarter and full year was 21.8% and 21.6% of revenue, respectively.” Strong cash balance . “Our cash on hand at the end of January stood at approximately $64 million.” Pension plan contribution. “As announced on May 21, 2025, the Company intended to voluntarily contribute an additional $4.0 million to the defined benefit pension plan by the end of June 2026, subject to review by the Board of Directors. On February 11, 2026, our Board approved the completion of the remaining $2.0 million of the announced voluntary cash contributions by the end of the first quarter 2026.” Quarterly dividend declared. “Our Board has declared a dividend of $0.25 per common share, to be paid on March 16, 2026 to shareholders of record as of February 25, 2026.” Fourth Quarter of 2025 Results Total Revenues decreased 6.5% year-over-year and amounted to $48.0 million for the three-month period ended December 31, 2025, compared to the decrease of 8.1% reported for the same period last year. Adjusted EBITDA less CAPEX 1 totalled $10.1 million and the EBITDA less CAPEX margin 1 was 21.1%. Net income amounted to $7.6 million, or to $0.55 diluted income per share. Financial Results for the Fourth Quarter of 2025 Total revenues for the fourth quarter ended December 31, 2025 decreased by 6.5% year-over-year and amounted to $48.0 million as compared to $51.4 million for the same period last year. The decrease in revenues is mainly due to the decline of our higher margin digital media and print products and to a lesser extent our lower margin digital services products, thereby creating pressure on our gross profit margins. Print revenues in the fourth quarter were favorably impacted by the recognition of approximately $0.5 million in revenues that had been deferred from the third quarter due to the Canada Post workers’ strike. The strike had delayed the distribution of certain print directories and direct mail items during the month of September, resulting in revenues initially expected in the third quarter being recorded in the fourth quarter. Had the deferred print revenues been recognized in the third quarter, the decline rate for total revenues would have been 7.4% for the fourth quarter ended December 31, 2025 compared to 8.1% reported for the same period last year. Total digital revenues decreased 5.6% year-over-year and amounted to $39.7 million for the three-month period ended December 31, 2025 compared to $42.0 million for the same period last year. The revenue decline is mainly attributable to a decrease in digital customer count, partially offset by an increase in the average spend per customer. Total print revenues decreased 10.9% year-over-year and amounted to $8.4 million for the three-month period ended December 31, 2025 compared to $9.4 million in the fourth quarter of 2024. The revenue decline was mostly attributable to decreases in the number of print customers while the spend per customer has improved year-over-year driven by price increases. Excluding the impact of the Canada Post labour disruption as described above, the year-over-year decline in print revenues would have been 15.6% for the three-month period ended December 31, 2025, compared to a decline rate of 11.5% for the same period last year. Adjusted EBITDA 1 increased to $10.5 million or 21.8% of revenues in the fourth quarter ended December 31, 2025, relative to $8.2 million or 16.0% of revenues for the same period last year. The increase in Adjusted EBITDA and Adjusted EBITDA margin 1 for the three-month period ended December 31, 2025 is the result of efficiencies from optimization in cost of sales and reductions in their operating costs including reductions in our workforce and associated employee expenses, reductions in variable compensation expenses resulting from changes in the executive management team earlier in the year and the impact of the Company’s share price on cash settled stock-based compensation expense, partially offset by revenue pressures and the ongoing investments in our tele-sales force capacity. The revaluation of the cash settled stock-based compensation liabilities based on the change in YP’s share price resulted in a recovery of $0.3 million for fourth quarter ended December 31, 2025 compared to a charge of $1.5 million for the same period last year. Revenue pressures, coupled with continued investments in our tele-sales force capacity, partially offset by continued optimization, will cause pressure on margins in upcoming quarters. Adjusted EBITDA less CAPEX increased by $2.3 million to $10.1 million during the fourth quarter of 2025, compared to $7.8 million during the same period last year. The increase in Adjusted EBITDA less CAPEX and Adjusted EBITDA less CAPEX margin for the three-month period ended December 31, 2025 is mainly due to higher Adjusted EBITDA as well as a decrease in CAPEX spend year-over-year, due in part, to the nature of IT spend, whereby more of the expense was classified as operating rather than capital. Net income for the three-month period ended December 31, 2025 amounted to $7.6 million as compared to net income of $2.7 million for the same period last year. The increase is explained principally by the higher Adjusted EBITDA and lower income tax expense for the three-month period ended December 31, 2025. Cash flows from operating activities increased by $3.4 million to $11.7 million for the three-month period ended December 31, 2025 from $8.3 million for the same period last year. The increase is mainly due to higher Adjusted EBITDA of $2.3 million, lower stock-based compensation cash payments of $1.5 million, a decrease in funding of post-employment benefit plans of $1.5 million and lower income taxes paid of $0.4 million, partially offset by a decrease in the change in operating assets and liabilities of $2.4 million. (1) Adjusted EBITDA is equal to Income from operations before depreciation and amortization and restructuring and other charges (defined herein as Adjusted EBITDA), as shown in Yellow Pages Limited’s consolidated statements of income. Adjusted EBITDA, Adjusted EBITDA margin, CAPEX, Adjusted EBITDA less CAPEX, Adjusted EBITDA less CAPEX margin are non-GAAP financial measures and do not have any standardized meaning under IFRS Accounting Standards. Therefore, they are unlikely to be comparable to similar measures presented by other public companies. Refer to the section on Non-GAAP financial measures at the end of this document for more details. Financial Results for the Year Ended December 31 of 2025 Total revenues for the year ended December 31, 2025 decreased by 7.4% to $198.9 million, as compared to $214.8 million for the same period last year. The decrease in revenues is mainly due to the decline of our higher margin digital media and print products and to a lesser extent to our lower margin digital services products, thereby creating pressure on our gross profit margins. Total digital revenues decreased 6.3% year-over-year and amounted to $161.3 million for the year ended December 31, 2025, as compared to $172.1 million for the same period last year. The revenue decline for the year ended December 31, 2025, was mainly attributable to a decrease in digital customer count, partially offset by an increase in the average spend per customer. Total print revenues decreased 12.1% year-over-year and amounted to $37.6 million for the year ended December 31, 2025. The revenue decline is mainly due to the decrease in the number of print customers while the spend per customer has improved year-over-year driven by price increases. The decline rate of total revenues, digital revenues and print revenues all improved year-over-year. Total revenues decline of 7.4% for 2025 compares to 10.3% reported for 2024. The print revenue decline of 12.1% for 2025, compares to 13.0% for 2024. The digital revenue decline of 6.3% compares to a decline of 9.6% for the year ended 2024. The improvement of the revenue decline rates for total, print and digital revenues was mainly due to the stabilization of the customer count decline rate and an increase in average spend per customer, due in part to price increases. For the year ended December 31, 2025 Adjusted EBITDA 1 decreased by $7.8 million or 15.3% to $43.0 million, compared to $50.8 million for the same period last year. The Adjusted EBITDA margin 1 decreased during the year ended December 31, 2025 to 21.6%, compared to 23.7% for the same period last year. The decrease in Adjusted EBITDA and Adjusted EBITDA margin for the year ended December 31, 2025 is the result of revenue pressures and the ongoing investments in our tele-sales force capacity, and the impact of the Company’s share price on cash settled stock-based compensation expense, partially offset by optimizations in cost of sales and reductions in other operating costs including reductions in our workforce and associated employee expenses. The change in YP’s share price resulted in a recovery of $1.3 million for the year ended December 31, 2025, compared to a recovery of $1.7 million for the same period last year. Revenue pressures and change in product mix, partially offset by continued optimizations and cost reductions, will continue to cause pressure on margins in upcoming quarters. For the year ended December 31, 2025 Adjusted EBITDA less CAPEX 1 decreased by $6.9 million or 14.2% to $41.5 million, compared to $48.4 million for the same period last year. The Adjusted EBITDA less CAPEX margin 1 decreased during the year ended December 31, 2025 to 20.9%, compared to 22.5% for the same period last year. The decrease in Adjusted EBITDA less CAPEX and Adjusted EBITDA less CAPEX margin for the year ended December 31, 2025 is driven by the decrease in Adjusted EBITDA, partially offset by the decrease in CAPEX spend year-over-year. Net income decreased to $18.1 million for the year ended December 31, 2025 compared to net income of $25.0 million for the same period last year. The decrease in net income for the year ended December 31, 2025 is mainly due to lower Adjusted EBITDA, the increase in restructuring and other charges, the increase in financial charges, and the settlement loss on annuity purchase, partially offset by the decrease in depreciation and amortization and income taxes. Cash flows from operating activities decreased by $4.0 million to $35.0 million for the year ended December 31, 2025 from $39.0 million for the same period last year. The decrease is mainly due to a $7.8 million decrease in Adjusted EBITDA and a $1.4 million increase in restructuring and other charges paid partially offset by a decrease in funding of post-employment benefit plans of $3.9 million and lower income taxes paid of $1.7 million. (1) Adjusted EBITDA is equal to Income from operations before depreciation and amortization and restructuring and other charges (defined herein as Adjusted EBITDA), as shown in Yellow Pages Limited’s consolidated statements of income. Adjusted EBITDA, Adjusted EBITDA margin, CAPEX, Adjusted EBITDA less CAPEX, Adjusted EBITDA less CAPEX margin are non-GAAP financial measures and do not have any standardized meaning under IFRS Accounting Standards. Therefore, they are unlikely to be comparable to similar measures presented by other public companies. Refer to the section on Non-GAAP financial measures at the end of this document for more details. Yellow Pages Limited will hold an analyst and media call and simultaneous webcast at 8:30 a.m. (Eastern Time) on February 12, 2026 to discuss fourth quarter 2025 results. To join by phone: https://register-conf.media-server.com/register/BI2de3a6fd3f9e464991401fb61481465e Click on the call link and complete the online registration form. Upon registering you will receive the dial-in info and a unique PIN to join the call as well as an email confirmation with the details. Select a method for joining the call: a. Dial-In : A dial in number and unique PIN are displayed to connect directly from your phone. b. Call Me : Enter your phone number and click “Call Me” for an immediate callback from the system. The call will come from a US number. To join by webcast: ENG: https://edge.media-server.com/mmc/p/cxrni2oq FR: https://edge.media-server.com/mmc/p/cxrni2oq/lan/fr The call will be simultaneously webcast on the Company’s website at: https://corporate.yp.ca/en/investors/financial-reports . The conference call will be archived in the Investors section of the site at: https://corporate.yp.ca/en/investors/financial-events-presentations . About Yellow Pages Limited Yellow Pages Limited (TSX: Y) is a Canadian digital media and marketing company that creates opportunities for buyers and sellers to interact and transact in the local economy. Yellow Pages holds some of Canada’s leading local online properties including YP.ca , Canada411 and 411.ca . The Company also holds the YP, Canada411 and 411 mobile applications and Yellow Pages print directories. For more information visit www.corporate.yp.ca . Caution Concerning Forward-Looking Statements This press release contains forward-looking statements about the objectives, strategies, financial conditions and results of operations and businesses of YP (including, without limitation, payment of a cash dividend per share per quarter to its common shareholders). These statements are forward-looking as they are based on our current expectations, as at February 11, 2026, about our business and the markets we operate in, and on various estimates and assumptions. Our actual results could materially differ from our expectations if known or unknown risks affect our business, or if our estimates or assumptions turn out to be inaccurate. As a result, there is no assurance that any forward-looking statements will materialize. Risks that could cause our results to differ materially from our current expectations are discussed in section 5 of our February 11, 2026 Management’s Discussion and Analysis. We disclaim any intention or obligation to update any forward-looking statements, except as required by law, even if new information becomes available, as a result of future events or for any other reason. Contact: Investors & Media Philip Samman General Counsel & Corporate Secretary investors@yp.ca communications@yp.ca Non-GAAP Financial Measures Adjusted EBITDA and Adjusted EBITDA margin In order to provide a better understanding of the results, the Company uses the terms Adjusted EBITDA and Adjusted EBITDA margin. Adjusted EBITDA is equal to Income from operations before depreciation and amortization and restructuring and other charges (defined herein as Adjusted EBITDA), as shown in Yellow Pages Limited’s consolidated statements of income. Adjusted EBITDA margin is defined as the percentage of Adjusted EBITDA to revenues. Adjusted EBITDA and Adjusted EBITDA margin are not performance measures defined under IFRS Accounting Standards and are not considered an alternative to income from operations or net income in the context of measuring Yellow Pages performance. Adjusted EBITDA and Adjusted EBITDA margin do not have a standardized meaning under IFRS Accounting Standards and are therefore not likely to be comparable to similar measures used by other publicly traded companies. Adjusted EBITDA and Adjusted EBITDA margin should not be used as exclusive measures of cash flow since they do not account for the impact of working capital changes, income taxes, interest payments, pension funding, capital expenditures, debt principal reductions and other sources and uses of cash, which are disclosed on page 17 of our February 11, 2026 MD&A. Management uses Adjusted EBITDA and Adjusted EBITDA margin to evaluate the performance of its business as it reflects its ongoing profitability . Management believes that certain investors and analysts use Adjusted EBITDA and Adjusted EBITDA margin to measure a company’s ability to service debt and to meet other payment obligations or as common measurement to value companies in the media and marketing solutions industry as well as to evaluate the performance of a business. Adjusted EBITDA less CAPEX and Adjusted EBITDA less CAPEX margin The Company also uses Adjusted EBITDA less CAPEX, which is defined as Adjusted EBITDA, as defined above, less CAPEX which we define as additions to intangible assets and additions to property and equipment as reported in the Investing Activities section of the Company’s consolidated statements of cash flows. Adjusted EBITDA less CAPEX margin is defined as the percentage of Adjusted EBITDA less CAPEX to revenues. Adjusted EBITDA less CAPEX and Adjusted EBITDA less CAPEX margin are non-GAAP financial measures and do not have any standardized meaning under IFRS Accounting Standards. Therefore, are unlikely to be comparable to similar measures presented by other publicly traded companies. We use Adjusted EBITDA less CAPEX and Adjusted EBITDA less CAPEX margin to evaluate the performance of our business as it reflects cash generated from business activities. We believe that certain investors and analysts use Adjusted EBITDA less CAPEX and Adjusted EBITDA less CAPEX margin to evaluate the performance of businesses in our industry. The most comparable financial measure under IFRS Accounting Standards to Adjusted EBITDA less CAPEX is Income from operations before depreciation and amortization and restructuring and other charges (defined above as Adjusted EBITDA) as shown in Yellow Pages Limited’s consolidated statements of income. Refer to table below for reconciliation of Adjusted EBITDA less CAPEX. Yellow Pages Limited Reports Fourth Quarter and Full Year 2025 Financial and Operating Results and Declares a Cash Dividend(1) Back to News Print Print

Communiqués de presse Back to News Retour aux nouvelles Print Retour aux nouvelles Print Montréal (Québec), le 15 janvier 2026 — Pages Jaunes Limitée (TSX : Y) (la « Société » ou « Pages Jaunes »), chef de file en matière de médias numériques et de solutions marketing au Canada, annonce aujourd’hui est heureuse d’annoncer que Keri Sobkowich, du Manitoba, est la gagnante de son concours national de couverture d’annuaire 2026 Le thème du concours national d’art de cette année était « Les entreprises locales, le cœur de nos communautés ». Des artistes de partout au Canada ont été invités à soumettre des œuvres originales célébrant le rôle essentiel que jouent les entreprises locales dans l’identité des quartiers et le dynamisme des communautés. « Nous avons été sincèrement impressionnés par le talent et la créativité démontrés dans le cadre de ce concours national », a déclaré Sherilyn King, Présidente et Cheffe de la direction de Pages Jaunes. « Chaque soumission nous a rappelé quelque chose qui nous tient profondément à cœur : les entreprises locales sont le cœur battant des communautés à travers le pays. Nous sommes honorés de présenter l’œuvre de Keri Sobkowich sur la couverture de notre annuaire Pages Jaunes 2026 et remercions tous les artistes qui ont participé. » Son œuvre gagnante illustre le thème du concours en mettant en lumière la poésie discrète d’un paysage urbain typiquement canadien et en célébrant le lien entre les entreprises locales et les gens qui en dépendent. Ce lien contribue à la vitalité des communautés. Aujourd’hui établie en milieu urbain, Keri amorce un nouveau chapitre en tant qu’artiste professionnelle, marqué par la croissance et de nouvelles occasions. À compter de janvier 2026, l’œuvre de Keri Sobkowich figurera sur la couverture de millions d’annuaires Pages Jaunes distribués partout au Canada jusqu’en décembre 2026. Pour découvrir davantage de son travail, visitez www.ksobkowich-artist.ca ou suivez-la sur Instagram à @kerisart204. Contact: Relations avec les investisseurs et les médias Philip Samman Conseiller juridique principal et secrétaire investisseurs@pj.ca communications@yp.ca Pages Jaunes annonce la gagnante de son concours national de couverture d’annuaire 2026

Press Releases Back to News Back to News Montreal (Quebec), February 14, 2024 — Yellow Pages Limited (TSX: Y) (the “Company”), a leading Canadian digital media and marketing company, released its operating and financial results today for the quarter and year ended December 31, 2023. “We are pleased with our fourth quarter and full year results which reflect continued strong profitability and cash generation, despite headwinds in the global economy and, particularly, the Canadian small business sector hindering our progress on the revenue front,” said David A. Eckert, President and CEO of Yellow Pages Limited. Eckert commented on the key developments: Strong earnings . “Our Adjusted EBITDA2 for the quarter and full year was 29.1% and 32.1% of revenue, respectively, despite our continued investments in revenue initiatives, including the further expansion of our sales force.” Cash to Shareholders and Pension Plan . “During the fourth quarter, we completed the previously announced plan of arrangement, distributing $50.0 million to shareholders through a share buy back and advancing $12.0 million of voluntary contributions to our Defined Benefit Pension Plan’s wind-up deficit. In addition, consistent with our deficit-reduction plan announced in May 2021, we made $1.5 million of voluntary incremental payments in the quarter and $6.0 million for the full year toward our Pension Plan’s wind-up deficit, bringing the total voluntary contributions to our Defined Benefit Pension Plan’s wind-up deficit in 2023 to $18.0 million.” Healthy cash balance . “Following the disbursements to shareholders and the Pension Plan, our steady cash generation has grown cash on hand to approximately $27.0 million at the end of January.” Continued progress on revenue initiatives . “The headwinds in the global economy and, particularly, the Canadian small business sector contributed to a challenging quarter for revenue. However, we remain pleased with our progress on underlying metrics, including the size of our sales force, our rate of churn of customers, and our rate of gaining new accounts. In particular, our rate of gaining new accounts was 28.5% higher than in the previous year. We believe these fundamentals bode well for our medium- and long-term future.” Optimistic outlook for “revenue curve.” “After 2023’s four quarters of declining rate of change of revenue vs. prior year, we expect in the first quarter of 2024 a resumption of our climb toward revenue stability.” Increase in quarterly cash dividend. “Our board has modified the dividend policy of paying a quarterly cash dividend to common shareholders by increasing the dividend from $0.20 per share to $0.25 per share.” Quarterly dividend declared . “Our Board has declared a dividend of $0.25 per common share, to be paid on March 15, 2024 to shareholders of record as of February 27, 2024.” Financial Highlights (In thousands of Canadian dollars, except percentage information and per share information) *Includes voluntary contributions to the Defined Benefit Pension Plan (the “Pension Plan”) of $12.0 million, made during the fourth quarter of 2023 ($24.0 million in the fourth quarter of 2022) pursuant to the plan of arrangement (the “Arrangement”). (1) The dividend will be designated as an eligible dividend pursuant to subsection 89(14) of the Income Tax Act (Canada) and any applicable provincial legislation pertaining to eligible dividends. (2) Adjusted EBITDA is equal to Income from operations before depreciation and amortization and restructuring and other charges (defined herein as Adjusted EBITDA), as shown in Yellow Pages Limited’s consolidated statements of income. Adjusted EBITDA, Adjusted EBITDA margin, CAPEX, Adjusted EBITDA less CAPEX and Adjusted EBITDA less CAPEX margin are non-GAAP financial measures and do not have any standardized meaning under IFRS. Therefore, they are unlikely to be comparable to similar measures presented by other public companies. Refer to the section on Non-GAAP financial measures at the end of this document for more details. Fourth Quarter of 2023 Results Total revenues decreased 13.4% year-over-year and amounted to $55.9 million for the three-month period ended December 31, 2023 compared to the decrease of 5.9% reported for the same period last year. Adjusted EBITDA less CAPEX1 totalled $15.3 million and the EBITDA less CAPEX margin1 was 27.4%. Net income amounted to $12.2 million, or to $0.71 per diluted share. Financial Results for the Fourth Quarter of 2023 Total revenues for the fourth quarter ended December 31, 2023 decreased by 13.4% to $55.9 million, as compared to $64.6 million for the same period last year. The decrease in revenues is mainly due to the decline of our higher margin digital media and print products and to a lesser extent to our lower margin digital services products, thereby creating pressure on our gross profit margins. Total digital revenues decreased 12.1% year-over-year and amounted to $45.3 million for the three-month period ended December 31, 2023, as compared to $51.5 million for the same period last year. The revenue decline is mainly attributable to a decrease in digital customer count partially offset by a higher spend per customer. Total print revenues decreased 18.7% year-over-year and amounted to $10.6 million during the fourth quarter of 2023 compared to $13.1 million in the fourth quarter of 2022. The revenue decline was mostly attributable to decreases in the number of print customers and to a lesser extent, the spend per customer. The decline rate of revenues increased year-over-year. Total revenue decline of 13.4% this quarter compares to a decline of 5.9% reported for the same period last year. Digital revenue decline of 12.1% this quarter compares to a decline of 4.3% reported for the same period last year. Print revenue decline of 18.7% this quarter compares to a decline of 11.7% reported for the same period last year. The higher decline rates are attributable to a decrease in customer count in both digital and print, and to customer claim rates remaining stable in 2023, while 2022 benefited from a substantial improvement. These pressures, augmented by the economic headwinds, were partially offset by a higher spend per customer in digital, driven in part by increased pricing. Adjusted EBITDA1 decreased to $16.2 million or 29.1% of revenues in the fourth quarter ended December 31, 2023, relative to $21.0 million or 32.5% of revenues for the same period last year. The decrease in Adjusted EBITDA and Adjusted EBITDA margin for the three-month period ended December 31, 2023 is the result of revenue pressures, the ongoing investments in our tele-sales force capacity and higher bad debt expense, partially offset by the impact of the Company’s share price on cash settled stock-based compensation expense, price increases, the efficiencies from optimization in cost of sales and reductions in other operating costs including reductions in our workforce and associated employee expenses. Revenue pressures, coupled with increased headcount in our salesforce partially offset by continued optimization, will continue to cause some pressure on margins in upcoming quarters. Adjusted EBITDA less CAPEX decreased by $4.7 million to $15.3 million during the fourth quarter of 2023, compared to $20.0 million during the same period last year. The decrease in Adjusted EBITDA less CAPEX for the three-month period ended December 31, 2023 is mainly due to lower Adjusted EBITDA. Net income for the three-month period ended December 31, 2023 amounted to $12.2 million as compared to net income of $29.4 million for the same period last year. The decrease is mainly attributable to higher recognition of previously unrecognized tax attributes and temporary differences in 2022. Income before taxes decreased from $16.7 million for the fourth quarter of 2022 to $12.4 million for the three-month period ended December 31, 2023, explained principally by the decrease in Adjusted EBITDA. Cash flows from operating activities increased by $7.3 million to $6.7 million for the three-month period ended December 31, 2023. The increase is mainly due to a decrease in funding of post-employment benefits plans $12.2 million resulting from the difference in funding pursuant to the 2023 Arrangement compared to the 2022 Arrangement and an increase of $0.7 million from changes in operating assets and liabilities, partially offset by lower Adjusted EBITDA of $4.7 million, higher income taxes paid of $0.6 million and higher restructuring and other charges paid of $0.3 million. The change in operating assets and liabilities is mainly due to the timing in the collection of trade receivables and the payment of trade receivables as well as the impact of the share price on the cash settled stock-based compensation. (1) Adjusted EBITDA is equal to Income from operations before depreciation and amortization and restructuring and other charges (defined herein as Adjusted EBITDA), as shown in Yellow Pages Limited’s consolidated statements of income. Adjusted EBITDA, Adjusted EBITDA margin, CAPEX, Adjusted EBITDA less CAPEX, Adjusted EBITDA less CAPEX margin are non-GAAP financial measures and do not have any standardized meaning under IFRS. Therefore, they are unlikely to be comparable to similar measures presented by other public companies. Refer to the section on Non-GAAP financial measures at the end of this document for more details. Financial Results for the Year Ended December 31 of 2023 Total revenues for the year ended December 31, 2023 decreased by 10.8% to $239.4 million, as compared to $268.3 million for the same period last year. The decrease in revenues is mainly due to the decline of our higher margin digital media and print products and to a lesser extent to our lower margin digital services products, thereby creating pressure on our gross profit margins. Total digital revenues decreased 9.0% year-over-year and amounted to $190.3 million for the year ended December 31, 2023, as compared to $209.1 million for the same period last year. The revenue decline for the period ended December 31, 2023, was mainly attributable to a decrease in digital customer count partially offset by an increase in average spend per customer. Total print revenues decreased 17.0% year-over-year and amounted to $49.1 million for year ended December 31, 2023. The revenue decline is mainly attributable to the decrease in the number of print customers and to a lesser extent, a decrease in spend per customer. The decline rate of revenues increased year-over-year. The higher decline rate is attributable, in part, to (a) the headwinds in the global economy, whereby, customer renewal rates have remained strong but stable while the improvements in average spend per customer has slowed as customers look to optimize their spend, (b) customer claim rates remaining stable in 2023, while 2022 benefited from a substantial improvement and (c) a cybersecurity incident which resulted in the Company’s operations and IT systems being suspended for approximately three weeks during the second quarter of 2023. For the year ended December 31, 2023 Adjusted EBITDA1 decreased by $19.7 million or 20.7% to $76.9 million, compared to $96.6 million for the same period last year. The adjusted EBITDA margin1 decreased during the year ended December 31, 2023 to 32.1%, compared to 36.0% for the same period last year. The decrease in Adjusted EBITDA and Adjusted EBITDA margin for the year ended December 31, 2023 is the result of revenue pressures and the ongoing investments in our tele-sales force capacity, partially offset by the efficiencies from optimization in cost of sales and reductions in other operating costs including reductions in our workforce and associated employee expenses, lower variable compensation expense and the impact of the Company’s share price on cash settled stock-based compensation expense. Furthermore, the Company received a total of $1.1 million of emergency wage subsidies for the year ended December 31, 2022. Revenue pressures, coupled with increased headcount in our salesforce partially offset by continued optimization, will continue to cause pressure on margins in upcoming quarters. For the year ended December 31, 2023 Adjusted EBITDA less CAPEX1 decreased by $18.7 million or 20.4% to $72.9 million, compared to $91.6 million for the same period last year. The adjusted EBITDA less CAPEX margin1 decreased during the year ended December 31, 2023 to 30.4%, compared to 34.1% for the same period last year. The decrease in Adjusted EBITDA less CAPEX and Adjusted EBITDA less CAPEX margin for the year ended December 31, 2023 is driven by the decrease in Adjusted EBITDA, partially offset by the decrease in CAPEX spend. The decrease in CAPEX spend is partly due to the nature of Information Technology spend whereby more of the spend was classified as operating versus capital in nature. Furthermore, the CAPEX spend during the year ended December 31, 2022 was impacted by the integration of new products. Net income decreased to $47.4 million for the year ended December 31, 2023 compared to net income of $73.4 million for the same period last year. The decrease in net income for the year ended December 31, 2023 is mainly due to lower Adjusted EBITDA and higher income tax expense, partially offset by the decrease in depreciation and amortization, restructuring and other charges and financial charges. Cash flows from operating activities decreased by $2.7 million to $46.8 million for the year ended December 31, 2023 from $49.5 million last year. The decrease is mainly due to lower Adjusted EBITDA of $19.7 million, a decrease of $2.1 million from changes in operating assets and liabilities partially offset by a decrease in funding of post-employment benefit plans of $12.0 million resulting from the difference in funding pursuant to the 2023 Arrangement compared to the 2022 Arrangement, the decrease in stock-based compensation cash settlements of $1.3 million, lower income taxes paid of $4.8 million, and lower restructuring and other charges paid of $1.6 million. The change in operating assets and liabilities is mainly due to the timing in the collection of trade receivables and the payment of trade receivables as well as the impact of the share price on the cash settled stock-based compensation expense. The first quarter of 2022 benefited from the cancellation of the forward contracts resulting in a decrease in other receivables of $3.1 million. As at December 31, 2023, the Company had $23.2 million of cash. (1) Adjusted EBITDA is equal to Income from operations before depreciation and amortization and restructuring and other charges (defined herein as Adjusted EBITDA), as shown in Yellow Pages Limited’s consolidated statements of income. Adjusted EBITDA, Adjusted EBITDA margin, CAPEX, Adjusted EBITDA less CAPEX, Adjusted EBITDA less CAPEX margin are non-GAAP financial measures and do not have any standardized meaning under IFRS. Therefore, they are unlikely to be comparable to similar measures presented by other public companies. Refer to the section on Non-GAAP financial measures at the end of this document for more details. Conference Call & Webcast Yellow Pages Limited will hold an analyst and media call and simultaneous webcast at 8:30 a.m. (Eastern Time) on February 14, 2024 to discuss fourth quarter 2023 results. The call may be accessed by dialing 416-695-6725 within the Toronto area, or 1-866-696-5910 outside of Toronto, Passcode 6613383#. Please be prepared to join the conference at least 5 minutes prior to the conference start time. The call will be simultaneously webcast on the Company’s website at: http s :// c o rp o r ate. yp . c a/e n / i n v e s to rs /f i n a n cial-r epo r t s . The conference call will be archived in the Investors section of the site at: http s :// c o rp o r ate. yp . c a/e n / i n v e s to rs /f i n a n cial- e v e n t s- p r e s enta tio n s . About Yellow Pages Limited Yellow Pages Limited (TSX: Y) is a Canadian digital media and marketing company that creates opportunities for buyers and sellers to interact and transact in the local economy. Yellow Pages holds some of Canada’s leading local online properties including YP.ca , Canada411 and 411.ca . The Company also holds the YP, Canada411 and 411 mobile applications and Yellow Pages print directories. For more information visit www. c o rp o r ate. y p. c a . Caution Concerning Forward-Looking Statements This press release contains forward-looking statements about the objectives, strategies, financial conditions and results of operations and businesses of YP (including, without limitation, payment of a cash dividend per share per quarter to its common shareholders and completion of the plan of arrangement). These statements are forward-looking as they are based on our current expectations, as at February 13, 2024, about our business and the markets we operate in, and on various estimates and assumptions. Our actual results could materially differ from our expectations if known or unknown risks affect our business, or if our estimates or assumptions turn out to be inaccurate. As a result, there is no assurance that any forward-looking statements will materialize. Risks that could cause our results to differ materially from our current expectations are discussed in section 5 of our February 13, 2024 Management’s Discussion and Analysis. We disclaim any intention or obligation to update any forward-looking statements, except as required by law, even if new information becomes available, as a result of future events or for any other reason. Contact: Investors & Media Franco Sciannamblo Senior Vice-President and Chief Financial Officer investors@yp.ca Non-GAAP Financial Measures Adjusted EBITDA and Adjusted EBITDA margin In order to provide a better understanding of the results, the Company uses the terms Adjusted EBITDA and Adjusted EBITDA margin. Adjusted EBITDA is equal to Income from operations before depreciation and amortization and restructuring and other charges (defined herein as Adjusted EBITDA), as shown in Yellow Pages Limited’s consolidated statements of income. Adjusted EBITDA margin is defined as the percentage of Adjusted EBITDA to revenues. Adjusted EBITDA and Adjusted EBITDA margin are not performance measures defined under IFRS and are not considered an alternative to income from operations or net income in the context of measuring Yellow Pages performance. Adjusted EBITDA and Adjusted EBITDA margin do not have a standardized meaning under IFRS and are therefore not likely to be comparable to similar measures used by other publicly traded companies. Adjusted EBITDA and Adjusted EBITDA margin should not be used as exclusive measures of cash flow since they do not account for the impact of working capital changes, income taxes, interest payments, pension funding, capital expenditures, debt principal reductions and other sources and uses of cash, which are disclosed on page 19 of our February 13, 2024 MD&A. Management uses Adjusted EBITDA and Adjusted EBITDA margin to evaluate the performance of its business as it reflects its ongoing profitability. Management believes that certain investors and analysts use Adjusted EBITDA and Adjusted EBITDA margin to measure a company’s ability to service debt and to meet other payment obligations or as common measurement to value companies in the media and marketing solutions industry as well as to evaluate the performance of a business. Adjusted EBITDA less CAPEX and Adjusted EBITDA less CAPEX margin The Company also uses Adjusted EBITDA less CAPEX, which is defined as Adjusted EBITDA, as defined above, less CAPEX which we define as additions to intangible assets and additions to property and equipment as reported in the Investing Activities section of the Company’s consolidated statements of cash flows. Adjusted EBITDA less CAPEX margin is defined as the percentage of Adjusted EBITDA less CAPEX to revenues. Adjusted EBITDA less CAPEX and Adjusted EBITDA less CAPEX margin are non-GAAP financial measures and do not have any standardized meaning under IFRS. Therefore, are unlikely to be comparable to similar measures presented by other publicly traded companies. We use Adjusted EBITDA less CAPEX and Adjusted EBITDA less CAPEX margin to evaluate the performance of our business as it reflects cash generated from business activities. We believe that certain investors and analysts use Adjusted EBITDA less CAPEX and Adjusted EBITDA less CAPEX margin to evaluate the performance of businesses in our industry. The most comparable IFRS financial measure to Adjusted EBITDA less CAPEX is Income from operations before depreciation and amortization and restructuring and other charges (defined above as Adjusted EBITDA) as shown in Yellow Pages Limited’s consolidated statements of income. Refer to pages 8 and 14 of the February 13, 2024 MD&A for a reconciliation of Adjusted EBITDA less CAPEX. Yellow Pages Limited Reports Fourth Quarter and Full Year 2023 Financial and Operating Results and Announces an Increase in Quarterly Cash Dividends1 Back to News Print Print

Communiqués de presse Back to News Retour aux nouvelles Print Retour aux nouvelles Print Montréal (Québec), le 9 novembre 2023 – Pages Jaunes Limitée (TSX : Y) (la « Société »), un chef de file en matière de médias numériques et de solutions marketing au Canada, a publié aujourd’hui ses résultats financiers et d’exploitation pour le trimestre et la période de neuf mois clos le 30 septembre 2023. « Au troisième trimestre, nous avons continué à générer une rentabilité et une trésorerie solides, malgré des vents contraires dans l’économie mondiale qui font obstacle à nos progrès en ce qui a trait aux produits », a déclaré M. David A. Eckert, président et chef de la direction de Pages Jaunes Limitée. M. Eckert a commenté les principaux faits nouveaux : · Bénéfice robuste . « Notre BAIIA ajusté2 pour le trimestre a représenté une proportion de 30,9 % des produits, malgré nos investissements continus dans des initiatives à l’égard des produits, y compris l’augmentation de notre effectif de vente. » · Solde de trésorerie en croissance. « La trésorerie solide que nous avons générée de façon constante nous a permis de faire croître nos fonds en caisse, qui s’élevaient à environ 76 M$ à la fin du mois d’octobre. » · Progrès continus en ce qui a trait aux initiatives à l’égard des produits . « Le trimestre a été difficile en ce qui concerne les produits, notamment en raison des vents contraires dans l’économie mondiale. Nous demeurons toutefois satisfaits des progrès réalisés sur les mesures sous-jacentes, notamment la taille de notre effectif de vente, le taux de roulement de notre clientèle et le taux d’acquisition de nouveaux comptes. Nous sommes d’avis que ces éléments fondamentaux sont de bon augure pour notre avenir à moyen et à long terme. » · Dividende trimestriel déclaré . « Notre conseil a déclaré un dividende de 0,20 $ par action ordinaire, devant être versé le 15 décembre 2023 aux actionnaires inscrits le 24 novembre 2023. » · Capitalisation trimestrielle du régime de retraite sur la bonne voie . « Conformément à notre plan de réduction du déficit annoncé en mai 2021, pour le troisième trimestre de 2023, nous avons effectué des paiements facultatifs supplémentaires à l’égard du déficit de liquidation de notre régime de retraite à prestations définies de 1,5 M$. » · Trésorerie distribuée aux actionnaires et injectée dans le régime de retraite d’ici la fin de l’exercice . « Comme nous l’avons annoncé le 19 octobre 2023, notre conseil a approuvé l’utilisation d’un montant discrétionnaire en trésorerie de 50 M$ aux fins du rachat d’actions de la Société ainsi que le versement d’un montant de 12 M$ visant à accélérer les cotisations facultatives prévues au régime de retraite à prestations définies, dans le cadre d’un plan d’arrangement. Nous sommes toujours en voie d’achever le plan d’arrangement d’ici la fin de l’exercice. » Faits saillants financiers (en milliers de dollars canadiens, sauf les pourcentages et les montants par action) 1. Le dividende sera désigné comme dividende déterminé en vertu du paragraphe 89(14) de la Loi de l’impôt sur le revenu (Canada) et de toute loi provinciale applicable se rapportant aux dividendes déterminés. 2. Le BAIIA ajusté correspond au bénéfice d’exploitation avant amortissements et frais de restructuration et autres charges (défini aux présentes comme le « BAIIA ajusté »), tel qu’il est présenté dans les états consolidés intermédiaires résumés du résultat net de Pages Jaunes Limitée. Le BAIIA ajusté, la marge sur BAIIA ajusté, les dépenses d’investissement, le BAIIA ajusté moins les dépenses d’investissement et la marge sur BAIIA ajusté moins les dépenses d’investissement sont des mesures financières non conformes aux PCGR et n’ont pas de signification normalisée selon les normes IFRS. Il est donc peu probable qu’ils soient comparables à des mesures semblables employées par d’autres sociétés ouvertes. Pour en savoir davantage, se reporter à la section Mesures financières non conformes aux PCGR, à la fin du présent document. Résultats du troisième trimestre de 2023 • Le total des produits a diminué de 12,4 % d’un exercice à l’autre, pour s’établir à 58,1 M$ pour le trimestre clos le 30 septembre 2023, comparativement à une diminution de 6,5 % enregistrée à la période correspondante de l’exercice précédent. • Le BAIIA ajusté moins les dépenses d’investissement1 a totalisé 17,2 M$, et la marge sur BAIIA ajusté moins les dépenses d’investissement1 s’est établie à 29,7 %. • Le bénéfice net s’est établi à 10,1 M$, soit un bénéfice dilué de 0,56 $ par action. Résultats financiers du troisième trimestre de 2023 Pour le troisième trimestre clos le 30 septembre 2023, le total des produits a diminué de 12,4 %, pour s’établir à 58,1 M$, comparativement à 66,3 M$ pour la période correspondante de l’exercice précédent. Le total des produits tirés des médias et solutions numériques a diminué de 10,6 % d’un exercice à l’autre, pour s’établir à 46,7 M$ pour le trimestre clos le 30 septembre 2023, comparativement à 52,2 M$ pour la période correspondante de l’exercice précédent. La baisse des produits pour le trimestre clos le 30 septembre 2023 est principalement attribuable à une diminution du nombre de clients des médias numériques, partiellement contrebalancée par une hausse des dépenses par client. Pour le trimestre clos le 30 septembre 2023, le total des produits tirés des médias imprimés a diminué de 19,1 % d’un exercice à l’autre, pour s’établir à 11,4 M$. La baisse des produits pour le trimestre clos le 30 septembre 2023 est principalement attribuable à une diminution du nombre de clients des médias imprimés et, dans une moindre mesure, à une baisse des dépenses par client. Le taux de diminution des produits a augmenté d’un exercice à l’autre et par rapport au trimestre précédent. La hausse du taux de diminution est en partie attribuable a) aux vents contraires dans l’économie mondiale, qui ont fait en sorte que les taux de renouvellement des clients sont demeurés solides, mais stables, tandis que l’amélioration des dépenses moyennes par client a ralenti, alors que les clients cherchent à optimiser leurs dépenses et b) à un incident en matière de cybersécurité, à la suite duquel les activités et les systèmes informatiques de la Société ont été interrompus pendant environ trois semaines au deuxième trimestre de 2023. Pour le trimestre clos le 30 septembre 2023, le BAIIA ajusté a diminué de 8,5 M$, ou 32,1 %, pour s’établir à 17,9 M$, comparativement à 26,4 M$ pour la période correspondante de l’exercice précédent. La marge sur BAIIA ajusté a diminué pour s’établir à 30,9 % au troisième trimestre de 2023, comparativement à 39,8 % pour la période correspondante de l’exercice précédent. La diminution du BAIIA ajusté et de la marge sur BAIIA ajusté pour le trimestre clos le 30 septembre 2023 découle des pressions exercées par la baisse des produits, d’un changement dans la composition des produits, des investissements continus dans notre effectif de télévente, ainsi que de l’incidence du cours de l’action de la Société sur la charge de rémunération fondée sur des actions réglée en trésorerie, facteurs contrebalancés en partie par les hausses de prix, par l’efficience découlant de l’optimisation du coût des produits vendus, par les réductions des autres coûts d’exploitation, y compris les réductions de la main-d’œuvre et des charges connexes liées aux employés, par une diminution de la charge pour créances douteuses et par la baisse de la charge de rémunération variable. Les pressions exercées sur les produits, de même que l’augmentation de l’effectif de vente, contrebalancées en partie par les optimisations continues, exerceront encore une pression sur les marges au cours des prochains trimestres. Pour le trimestre clos le 30 septembre 2023, le BAIIA ajusté moins les dépenses d’investissement a diminué de 7,9 M$, ou 31,4 %, pour s’établir à 17,2 M$, comparativement à 25,1 M$ pour la période correspondante de l’exercice précédent. La diminution du BAIIA ajusté moins les dépenses d’investissement et la marge sur BAIIA ajusté moins les dépenses d’investissement est attribuable à la diminution du BAIIA ajusté, partiellement contrebalancée par la diminution des dépenses d’investissement. La diminution des dépenses d’investissement découle en partie des dépenses liées à la technologie de l’information, une plus grande partie des dépenses étant classée à titre de dépenses d’exploitation qu’à titre de dépenses d’investissement. Pour le trimestre clos le 30 septembre 2023, le bénéfice net a diminué pour s’établir à 10,1 M$, comparativement à 16,7 M$ pour la période correspondante de l’exercice précédent. Les flux de trésorerie provenant des activités d’exploitation ont diminué de 10,6 M$, pour s’établir à 10,3 M$ pour le trimestre clos le 30 septembre 2023. Cette baisse est essentiellement attribuable à la diminution de 8,5 M$ du BAIIA ajusté1, à la hausse de 2,1 M$ des règlements en trésorerie au titre de la rémunération fondée sur des actions et à la hausse de 1,0 M$ de l’impôt sur le résultat payé, facteurs contrebalancés en partie par une augmentation de 1,4 M$ découlant des variations des actifs et des passifs d’exploitation. La variation des actifs et des passifs d’exploitation s’explique principalement par le calendrier de recouvrement des créances clients et de paiement des créances clients et par l’incidence du cours de l’action sur la charge de rémunération fondée sur des actions réglée en trésorerie. Au 30 septembre 2023, la trésorerie de la Société se chiffrait à 69,8 M$. 1.Le BAIIA ajusté correspond au bénéfice d’exploitation avant amortissements et frais de restructuration et autres charges (défini aux présentes comme le « BAIIA ajusté »), tel qu’il est présenté dans les états consolidés intermédiaires résumés du résultat net de Pages Jaunes Limitée. Le BAIIA ajusté, la marge sur BAIIA ajusté, les dépenses d’investissement, le BAIIA ajusté moins les dépenses d’investissement et la marge sur BAIIA ajusté moins les dépenses d’investissement sont des mesures financières non conformes aux PCGR et n’ont pas de signification normalisée selon les normes IFRS. Il est donc peu probable qu’ils soient comparables à des mesures semblables employées par d’autres sociétés ouvertes. Pour en savoir davantage, se reporter à la section Mesures financières non conformes aux PCGR, à la fin du présent document. Conférence téléphonique et webdiffusion Pages Jaunes Limitée tiendra une conférence téléphonique et une webdiffusion simultanées à l’intention des analystes et des médias à 8 h 30 (heure de l’Est) le 9 novembre 2023 pour commenter les résultats du troisième trimestre de 2023. On peut assister à cette conférence en composant le 416 695-6725 dans la région de Toronto ou le 1 866 696-5910 à l’extérieur de cette zone. Le mot de passe est 2713953#. Veuillez joindre la conférence au moins cinq minutes avant le début de celle-ci. La conférence sera aussi disponible par webdiffusion à partir du site Web de la Société, à l’adresse https://entreprise.pj.ca/fr/investisseurs/rapports-financiers/ . La conférence téléphonique sera archivée dans la section « Investisseurs » du site Web, à l’adresse https://entreprise.pj.ca/fr/investisseurs/evenements-financiers-presentations/ . À propos de Pages Jaunes Limitée Pages Jaunes Limitée (TSX : Y) est une société canadienne de médias numériques et de solutions marketing qui offre des occasions aux vendeurs et aux acheteurs d’interagir et de faire des affaires au sein de l’économie locale. Pages Jaunes détient certains des principaux médias locaux en ligne au Canada, notamment PJ.ca , Canada411 et 411.ca , ainsi que les applications mobiles PJ, Canada411 et 411, de même que les annuaires imprimés Pages Jaunes. Pour plus d’informations, visitez notre site Web au www.entreprise.pj.ca/fr . Mise en garde concernant les déclarations prospectives Le présent communiqué contient des déclarations prospectives au sujet des objectifs, des stratégies, de la situation financière et des résultats d’exploitation et des activités de PJ (y compris, sans s’y limiter, le versement d’un dividende en trésorerie par action par trimestre à ses actionnaires ordinaires et la conclusion du plan d’arrangement). Ces déclarations sont prospectives puisqu’elles sont fondées sur nos attentes, en date du 8 novembre 2023, en ce qui concerne nos activités et les marchés sur lesquels nous les exerçons, ainsi que sur différentes estimations et hypothèses. Nos résultats réels pourraient différer de manière importante de nos attentes si des risques connus ou inconnus touchaient nos activités ou si nos estimations ou hypothèses se révélaient inexactes. Par conséquent, nous ne pouvons garantir que l’une ou l’autre de nos déclarations prospectives se réalisera. Les risques qui pourraient faire en sorte que nos résultats réels diffèrent de façon importante de nos attentes actuelles sont analysés dans la section 5 de notre rapport de gestion en date du 8 novembre 2023. Nous n’avons aucune intention ni ne nous engageons à le faire, sauf si cela est exigé conformément à la loi, de mettre à jour les déclarations prospectives même si de nouveaux renseignements venaient à notre connaissance, par suite d’événements futurs ou pour toute autre raison. Personne-ressource : Investisseurs et médias Franco Sciannamblo Premier vice-président et chef de la direction financière investisseurs@pj.ca Mesures financières non conformes aux PCGR BAIIA ajusté et marge sur BAIIA ajusté De manière à offrir une meilleure compréhension des résultats, la Société utilise les termes BAIIA ajusté et marge sur BAIIA ajusté. Le BAIIA ajusté correspond au bénéfice d’exploitation avant amortissements et frais de restructuration et autres charges (défini aux présentes comme le « BAIIA ajusté »), tel qu’il est présenté dans les états consolidés intermédiaires résumés du résultat net de Pages Jaunes Limitée. Nous définissons la marge sur BAIIA ajusté en tant que le BAIIA ajusté en pourcentage des produits. Le BAIIA ajusté et la marge sur BAIIA ajusté ne sont pas des mesures de la performance conformes aux normes IFRS et ils ne sont pas considérés comme un substitut du bénéfice d’exploitation ou du bénéfice net pour mesurer la performance de Pages Jaunes. Les définitions du BAIIA ajusté et de la marge sur BAIIA ajusté ne sont pas normalisées selon les normes IFRS; il est donc peu probable qu’ils soient comparables à des mesures semblables employées par d’autres sociétés cotées en bourse. Le BAIIA ajusté et la marge sur BAIIA ajusté ne devraient pas être utilisés comme mesures exclusives des flux de trésorerie, car ils ne tiennent pas compte de l’incidence des variations du fonds de roulement, de l’impôt sur le résultat, des paiements d’intérêts, de la capitalisation des régimes, des dépenses d’investissement, des réductions du capital de la dette ainsi que des autres provenances et utilisations des flux de trésorerie, qui sont présentées à la page 15 de notre rapport de gestion au 8 novembre 2023. La direction utilise le BAIIA ajusté et la marge sur BAIIA ajusté pour évaluer la performance de ses activités, car ils reflètent la rentabilité continue. La direction est d’avis que certains investisseurs et analystes utilisent le BAIIA ajusté et la marge sur BAIIA ajusté pour évaluer la capacité d’une société à assurer le service de sa dette et à satisfaire à d’autres obligations de paiement ou comme mesure courante pour évaluer les sociétés exerçant leurs activités dans le secteur des médias et des solutions de marketing ainsi que pour évaluer la performance d’une entreprise. BAIIA ajusté moins les dépenses d’investissement et marge sur BAIIA ajusté moins les dépenses d’investissement La Société utilise aussi le BAIIA ajusté moins les dépenses d’investissement, que nous définissons comme le BAIIA ajusté, tel qu’il est défini ci-dessus, moins les dépenses d’investissement, que nous définissons comme les acquisitions d’immobilisations incorporelles et les acquisitions d’immobilisations corporelles, présentées dans la section « Activités d’investissement » des tableaux consolidés intermédiaires résumés des flux de trésorerie de la Société. Nous définissons la marge sur BAIIA ajusté moins les dépenses d’investissement en tant que le BAIIA ajusté moins les dépenses d’investissement en pourcentage des produits. Le BAIIA ajusté moins les dépenses d’investissement et la marge sur BAIIA ajusté moins les dépenses d’investissement sont des mesures financières non conformes aux PCGR et ils n’ont pas de signification normalisée selon les normes IFRS. Il est donc peu probable qu’ils soient comparables à des mesures semblables employées par d’autres sociétés cotées en bourse. Nous utilisons le BAIIA ajusté moins les dépenses d’investissement et la marge sur BAIIA ajusté moins les dépenses d’investissement pour évaluer la performance de nos activités, car ils reflètent les flux de trésorerie provenant de nos activités commerciales. Nous sommes d’avis que certains investisseurs et analystes utilisent le BAIIA ajusté moins les dépenses d’investissement et la marge sur BAIIA ajusté moins les dépenses d’investissement pour évaluer la performance des entreprises de notre secteur. La mesure financière conforme aux normes IFRS qui s’apparente le plus au BAIIA ajusté moins les dépenses d’investissement est le bénéfice d’exploitation avant amortissements et frais de restructuration et autres charges (défini ci-dessus comme le « BAIIA ajusté »), tel qu’il est présenté dans les états consolidés intermédiaires résumés du résultat net de Pages Jaunes Limitée. Pour un rapprochement du BAIIA ajusté moins les dépenses d’investissement, se reporter à la page 9 du rapport de gestion au 8 novembre 2023. Pages Jaunes Limitée présente ses résultats financiers et d’exploitation au troisième trimestre de 2023 et déclare un dividende en trésorerie1