Communiqués de presse Back to News Retour aux nouvelles Print Retour aux nouvelles Print Montréal (Québec), le 11 mai 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 clos le 31 mars 2023. « Nos résultats du premier trimestre continuent de refléter une rentabilité et une trésorerie générée solides, de même que des progrès importants en ce qui a trait aux produits, et nous avons le plaisir d’annoncer une augmentation de notre dividende trimestriel en trésorerie », 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 trimestriel solide. « Malgré nos investissements continus dans des initiatives à l’égard des produits, y compris l’augmentation considérable de notre effectif de vente, notre BAIIA ajusté2 pour le trimestre a représenté une proportion de 33,1 % des produits. » Capitalisation du régime de retraite sur la bonne voie. « Conformément à notre plan de réduction du déficit annoncé en mai 2021, pour le premier 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$. » Solde de trésorerie robuste. « Même après certains décaissements réguliers et saisonniers effectués au cours du trimestre, nos fonds en caisse s’élevaient à environ 54 M$ à la fin du mois d’avril. » Variation des produits stable. « Malgré une certaine progression des vents contraires dans l’économie en général, la variation de nos produits au premier trimestre par rapport à l’exercice précédent s’est légèrement améliorée par rapport à ce qu’elle était il y a un an. Et tout en demeurant à l’affût des pressions continues au sein de l’économie mondiale et canadienne, nous sommes satisfaits des progrès réalisés par notre société 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. » Augmentation de notre dividende trimestriel en trésorerie. « Notre conseil d’administration a modifié la politique en matière de dividendes visant à verser un dividende trimestriel en trésorerie aux actionnaires ordinaires, en augmentant le dividende de 0,15 $ par action à 0,20 $ par action » Dividende trimestriel déclaré. « Notre conseil a déclaré un dividende de 0,20 $ par action ordinaire, devant être versé le 15 juin 2023 aux actionnaires inscrits le 25 mai 2023. » 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 premier trimestre de 2023 • Pour le trimestre clos le 31 mars 2023, le total des produits a diminué de 7,5 % d’un exercice à l’autre, pour s’établir à 62,7 M$, une amélioration par rapport à la baisse de 7,8 % enregistrée à la période correspondante de l’exercice précédent. • Le BAIIA ajusté moins les dépenses d’investissement1 a totalisé 19,8 M$ et la marge sur BAIIA ajusté moins les dépenses d’investissement1 s’est établie à 31,6 %. • Le bénéfice net a diminué pour s’établir à 12,4 M$, soit un bénéfice dilué de 0,68 $ par action. Résultats financiers du premier trimestre de 2023 Pour le premier trimestre clos le 31 mars 2023, le total des produits a diminué de 7,5 %, pour s’établir à 62,7 M$, comparativement à 67,8 M$ pour la période correspondante de l’exercice précédent. La diminution des produits est essentiellement attribuable au recul de nos médias numériques et médias imprimés à marge plus élevée et, dans une moindre mesure, de nos services numériques à marge moins élevée, ce qui a exercé une pression sur nos marges bénéficiaires brutes. Les taux de diminution du total des produits et des produits tirés des médias et solutions numériques se sont améliorés d’un exercice à l’autre. La diminution du total des produits a été de 7,5 % au cours du trimestre considéré, comparativement à une diminution de 7,8 % enregistrée pour la période correspondante de l’exercice précédent. La diminution des produits tirés des médias et solutions numériques a été de 5,7 % au cours du trimestre considéré, comparativement à une diminution de 7,7 % enregistrée pour la période correspondante de l’exercice précédent. L’amélioration du total des produits et des produits tirés des médias et solutions numériques s’explique par une hausse des dépenses moyennes par client pour les médias numériques, une augmentation des taux de renouvellement et une diminution continue des taux de réclamation des clients. La diminution des produits tirés des médias imprimés a été de 13,7 % au cours du trimestre considéré, comparativement à une diminution de 7,9 % enregistrée pour la période correspondante de l’exercice précédent. La hausse du taux de diminution des produits tirés des médias imprimés est attribuable à une baisse des dépenses moyennes par client, contrebalancée en partie par la diminution du taux de réclamation des clients. Pour le trimestre clos le 31 mars 2023, le BAIIA ajusté1 a diminué de 4,7 M$, ou 18,3 %, pour s’établir à 20,8 M$, comparativement à 25,4 M$ pour la période correspondante de l’exercice précédent. La marge sur BAIIA ajusté1 a diminué pour s’établir à 33,1 % au premier trimestre de 2023, comparativement à 37,5 % pour la période correspondante de l’exercice précédent. La diminution du BAIIA ajusté pour le premier trimestre de 2023 est attribuable aux pressions exercées sur les produits et aux investissements continus dans notre effectif de télévente, contrebalancés en partie par les réductions des autres coûts d’exploitation, y compris les réductions de la main-d’œuvre et des charges connexes liées aux employés, 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 certaine pression sur les marges au cours des prochains trimestres. Pour le trimestre clos le 31 mars 2023, le BAIIA ajusté moins les dépenses d’investissement a diminué de 4,1 M$, ou 17,1 %, pour s’établir à 19,8 M$, comparativement à 23,9 M$ pour la période correspondante de l’exercice précédent. La marge sur BAIIA ajusté moins les dépenses d’investissement a diminué au cours de la période close le 31 mars 2023 pour s’établir à 31,6 %, comparativement à 35,3 % pour la période correspondante de l’exercice précédent. La diminution du BAIIA ajusté moins les dépenses d’investissement et de la marge sur BAIIA ajusté moins les dépenses d’investissement découle de la diminution du BAIIA ajusté, partiellement contrebalancée par une diminution des dépenses d’investissement s’expliquant par le fait qu’en 2022, les dépenses d’investissement avaient subi l’incidence de l’intégration de nouveaux produits. Le bénéfice net a diminué pour s’établir à 12,4 M$ pour le trimestre clos le 31 mars 2023, comparativement à un bénéfice net de 14,6 M$ pour la période correspondante de l’exercice précédent, ce qui s’explique par la baisse du BAIIA ajusté1, contrebalancée en partie par la diminution des amortissements, des frais de restructuration et autres charges, des charges financières et de l’impôt sur le résultat. Les flux de trésorerie provenant des activités d’exploitation ont augmenté de 5,4 M$, pour s’établir à 9,8 M$ pour le trimestre clos le 31 mars 2023. L’augmentation est essentiellement attribuable à la baisse de 3,0 M$ des règlements en trésorerie au titre de la rémunération fondée sur des actions, à la baisse de 5,9 M$ de l’impôt sur le résultat payé et à la baisse de 1,7 M$ des frais de restructuration et autres charges payés, contrebalancées en partie par la baisse de 4,7 M$ du BAIIA ajusté. Les résultats du premier trimestre de 2022 ont bénéficié de l’annulation des contrats à terme de gré à gré, qui a donné lieu à une diminution de 3,1 M$ des autres débiteurs. Au 31 mars 2023, la trésorerie de la Société se chiffrait à 49,7 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 11 mai 2023 pour commenter les résultats du premier trimestre de 2023. On peut assister à cette conférence en composant le 416 6956725 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 https://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, du versement d’un dividende en trésorerie par action par trimestre à ses actionnaires ordinaires). Ces déclarations sont prospectives puisqu’elles sont fondées sur nos attentes, en date du 10 mai 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 10 mai 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 communications@pj.ca Pages Jaunes Limitée présente ses résultats financiers et d’exploitation pour le premier trimestre de 2023 et annonce une augmentation de son dividende trimestriel en trésorerie1

Back to Events Q4 2023 Financial and Operational Results Add to my Calendar 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, both with the passcode 6613383#. Please be prepared to join the conference at least 5 minutes prior to the conference start time Management's Discussion & Analysis Financial Statements Supplemental Disclosure Webcast of Conference Call Back to Events Events

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Back to Events Q4 2024 Financial and Operational Results Add to my Calendar Yellow Pages Limited will hold an analyst and media call and simultaneous webcast at 8:30 a.m. (Eastern Time) on February 13, 2025 to discuss fourth quarter 2024 results. The call may be accessed by dialing 416-695-6725 within the Toronto area, or 1-866-696-5910 outside of Toronto, both with the passcode 7057902#. Please be prepared to join the conference at least 5 minutes prior to the conference start time. Management's Discussion and Analysis Financial Statements Supplemental Disclosure Webcast of Conference Call Back to Events Events

Press Releases Back to News Back to News Montreal (Quebec), October 31, 2023 — Yellow Pages Limited (TSX: Y) (the “Company”), a leading Canadian digital media and marketing company, today announced that it has filed and is in the process of mailing the management proxy circular (the “ Circular ”) and related materials for the special meeting (the “ Meeting ”) of the Company’s shareholders (the “ Shareholders ”) to approve the previously announced arrangement under the Business Corporation Act (British Columbia) (the “ Arrangement ”). Under the Arrangement, the Company will repurchase from Shareholders pro rata an aggregate of 4,440,497 common shares at a purchase price of $11.26 per share, which represents the volume weighted average price for the five consecutive trading days ending the trading day immediately prior to October 19, 2023, all as more particularly described in the Circular. Under the Arrangement, the Company will also advance the previously announced voluntary incremental cash contributions to the Company’s defined benefit pension plan’s (the “ Pension Plan ”) wind-up deficit by an amount of $12 million during the year ending December 31, 2023, bringing 2023 cash payments to the Pension Plan’s wind-up deficit to $18 million by the end of the year. The Arrangement is subject to the approval of at least 66 2/3% of the votes cast by Shareholders at the Meeting. Shareholders holding in excess of 77% of the outstanding shares have agreed with the Company to vote in favor of the Arrangement. The Arrangement is also subject to the receipt of the approval of the Supreme Court of British Columbia (the “ Court ”). Board Recommendation The board of directors of the Company has unanimously determined, after consultation with its advisors and its own deliberations, that the Arrangement is fair to the Shareholders and the Arrangement is in the best interests of the Company, and recommends the Shareholders vote FOR the Arrangement. Interim Order The Company also announced today that the Court has issued an interim order in connection with the Arrangement authorizing various matters, including the holding of the Meeting and the mailing of the Circular. Record Date The Company filed a notice of meeting and record date with applicable securities regulatory authorities on October 23, 2023, pursuant to which it advised the Shareholders that the Meeting would be held virtually on November 30, 2023 and set the close of business on October 23, 2023 as the record date (the “ Record Date ”) for the Meeting. Meeting and Circular The Meeting is scheduled to be held as a virtual-only meeting available via live audio webcast available at www.virtualshareholdermeeting.com/yp2023sm on Thursday, November 30, 2023 at 1:00 p.m. (Eastern time). Shareholders, regardless of geographic location, will have an equal opportunity to participate in the Meeting online. Shareholders will not be able to attend the Meeting in person. Shareholders of record as of the close of business on the Record Date are entitled to receive notice of and vote at the Meeting. Shareholders are urged to vote well before the proxy deadline of 1:00 p.m. (Eastern time) on Tuesday, November 28, 2023. The Circular provides important information on the Arrangement and related matters, including the background to the Arrangement, voting procedures and how to virtually attend the Meeting. Shareholders are urged to read the Circular and its schedules carefully and in their entirety. The Circular is being mailed to Shareholders in compliance with applicable laws and the Interim Order. The Circular is available under the Company’s profile on SEDAR at www.sedarplus.com and on the Company’s website at www.corporate.yp.ca . Shareholder Questions and Assistance Shareholders who have questions regarding the Meeting or require assistance with voting may contact Broadridge Investor Communications Corporation, the Company’s proxy solicitation agent, via email at proxy.request@broadridge.com . 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 certain forward-looking statements about the Arrangement within the meaning of applicable securities laws. Completion of the Arrangement is subject to a number of risks. Risks that could cause our results to differ materially from our current expectations, and that could impact the Arrangement, are discussed in section 5 of our August 8, 2023 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. Yellow Pages Limited Files Management Proxy Circular for Special Meeting of Shareholders and Announces Receipt of Interim Order Back to News Print Print

Back to Events Release of Q4 2016 Financial and Operational Results Add to my Calendar Management's Discussion and Analysis (239.6 KB) Financial Statements (259.6 KB) Supplemental Disclosure (1.2 MB) Webcast of the Conference Call Back to Events Events

Our Code of Ethics Copyright © 2023 Yellow Pages Digital & Media Solutions Limited. All Rights Reserved. Governance Yellow Pages Limited’s Code of Ethics and Business Conduct provides various rules and guidelines for ethical behavior based on the company's mission and values, as well as applicable laws and regulations. The code applies to all employees, officers and to directors. It lays out the minimum standards of conduct that each Yellow Pages employee, officer and director must abide by. Consult the full document: PDF - 3.8 MB Code of Ethics Code of Ethics Governance Incorporation Corporate Governance Guidelines Committee Charters Code of Ethics Contact the Board Governance Incorporation Corporate Governance Guidelines Committee Charters Code of Ethics Contact the Board

Back to Events YP Digital Breakfast (with Google) - Toronto Add to my Calendar Back to Events Events

Our media & digital companies offer the best marketing solutions to promote customer engagement. Copyright © 2023 Yellow Pages Digital & Media Solutions Limited. All Rights Reserved. Yellow Pages Limited (TSX: Y) is a Canadian digital media and marketing solutions company that supports local economies by helping neighbourhood businesses reach new customers and foster stronger relationships with existing clients through its various media and products. Yellow Pages holds some of Canada’s leading local online search properties including YP.ca™ and Canada411.ca. The Company also holds the YP, YP Shopwise and Canada411 mobile applications and Yellow Pages™ print directories. Companies Yellow Pages For Customers Yellow Pages remains committed to delivering Canadians richer content and an enhanced search experience, through an unparalleled local media presence across the country. With listings and articles containing pictures, videos, web links, maps, deals, ratings and reviews, shoppers can discover top-ranked businesses and make more informed decisions in such areas as health, personal finance, home renovation, travel, shopping. Our Properties Our Services For Businesses Yellow Pages offers small-and-medium sized businesses access to one of the country’s most comprehensive suites of digital and traditional marketing solutions, which include products such as online and mobile priority placement on Yellow Pages’ owned and operated media, search engine solutions, website fulfillment, social media campaign management, digital display advertising, video production and print advertising 411.ca Every year, more than 20 million visitors find people and businesses on 411.ca. With its candid reviews and reverse look-up feature, 411.ca is the fastest and easiest way to get the 411 on your neighbourhood, online and on mobile. 411.ca

Previous Next Craig Forman Back Craig Forman Director Chair of the Corporate Governance and Nominating Committee Craig Forman is General Partner of Next News Ventures, a media tech-focused venture capital firm investing in growth-stage startups. With over 20 years of experience in the internet, media and communications industries, Mr. Forman served as President and Chief Executive Officer at McClatchy Company, a California-based news and information company until 2020. Mr. Forman was Executive Chairman of the Board of the mobile advertising company Appia, Inc. from August 2011 until its acquisition by Digital Turbine Inc., and on whose board Mr. Forman served until January 2017. Mr. Forman has also served as Executive Chairman of WHERE, Inc., a location-based media company which was acquired by eBay. Mr. Forman currently serves as Executive Chair at the Center for News, Technology & Innovation (CNTI). Mr. Forman has an undergraduate degree in Public and International Affairs from Princeton University and a Master’s degree in law from Yale Law School.

Press Releases Back to News Back to News Montreal (Quebec), November 12, 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 nine-months ended September 30, 2024. “In the third quarter, we report continued progress toward revenue stability, along with good profitability and a healthy cash balance,” said David A. Eckert, President and CEO of Yellow Pages Limited. Eckert commented on the key developments: Continued climb toward revenue stability. “For the third consecutive quarter, we report a favorable ‘bending of the revenue curve’ in Q3, as our rate of change in revenue was better than the change reported for the previous quarter.” Progress on revenue initiatives. “We are pleased with our progress on metrics underlying our revenue generation, including the size of our sales force, as well as a deceleration of the customer count decline rate fueled by an increase in new customer acquisitions, which were 36% higher than in the same quarter last year. We believe these fundamentals bode well for our medium- and long-term future.” Solid quarterly earnings. “Our Adjusted EBITDA2 for the quarter was on track at 23.8% of revenue, even with our continued investments in revenue initiatives, including the steady continued expansion of our sales force.” Healthy cash balance. “Our steady cash generation has grown cash on hand to approximately $43 million at the end of October.” Pension plan funding on track. “Consistent with our deficit-reduction plan announced in May 2021, in the third quarter of 2024 we made $1.5 million of voluntary incremental payments toward our Defined Benefit Pension Plan’s wind-up deficit.” Quarterly dividend declared . “Our Board has declared a dividend of $0.25 per common share, to be paid on December 16, 2024 to shareholders of record as of November 27, 2024.” Financial Highlights (In thousands of Canadian dollars, except percentage information and per share information) (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 interim condensed 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. Third Quarter of 2024 Results Total Revenues decreased 9.4% year-over-year and amounted to $52.6 million for the three-month period ended September 30, 2024, an improvement from the decrease of 11.0% reported last quarter. Adjusted EBITDA less CAPEX1 totalled $12.2 million and the EBITDA less CAPEX margin1 was 23.2%. Net income amounted to $6.3 million, or to $0.46 diluted income per share. Financial Results for the Third Quarter of 2024 Total revenues for the third quarter ended September 30, 2024 decreased by 9.4% to $52.6 million, as compared to $58.1 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 8.7% year-over-year and amounted to $42.6 million for the three-month period ended September 30, 2024, as compared to $46.7 million for the same period last year. The revenue decline was mainly attributable to a decrease in digital customer count and to a lesser extent, a decrease in the average spend per customer. Total print revenues decreased 12.4% year-over-year and amounted to $10.0 million for three-month period ended September 30, 2024. 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 revenues improved during the quarter ended September 30, 2024, compared to the same period last year. The improvement is partly due to the deceleration of the customer count decline rate fueled by an increase in new customer acquisitions partially offset by an increase in churn. In addition, 2023 decline rates were negatively impacted by customer claim rates remaining stable in 2023, while 2022 benefited from a substantial improvement in customer claims. Adjusted EBITDA1 decreased to $12.5 million or 23.8% of revenues in the third quarter ended September 30, 2024, relative to $17.9 million or 30.9% of revenues for the same period last year. The decrease in Adjusted EBITDA and Adjusted EBITDA margin for the third quarter of 2024 is the result of revenue pressures, the ongoing investment in our tele-sales force capacity and increase in bad debt expense, partially offset by optimizations in cost of sales and reductions in other operating costs including reductions in our workforce and associated employee expenses including variable compensation. Revenue pressures, partially offset by continued optimizations, will continue to cause some pressure on margins in upcoming quarters. Adjusted EBITDA less CAPEX decreased by $5.0 million or 29.1% to $12.2 million during the third quarter of 2024, compared to $17.2 million during the same period last year. The decrease in Adjusted EBITDA less CAPEX and Adjusted EBITDA less CAPEX margin is driven by the decrease in Adjusted EBITDA, partially offset by the decrease in CAPEX spend year-over-year, due in part, to the nature of the Information Technology (“IT”) spend, whereby, more of the expense was classified as operating rather than capital. Net income for the three-month period ended September 30, 2024 amounted to $6.3 million as compared to net income of $10.1 million for the same period last year due to lower Adjusted EBITDA, partially offset by the decrease in income taxes. Cash flows from operating activities increased by $1.2 million to $11.5 million for the three-month period ended September 30, 2024 from $10.3 million for the same period last year. The increase is mainly due to lower stock-based compensation cash payments of $4.2 million, an increase of $1.8 million from changes in operating assets and liabilities and lower income taxes paid of $0.6 million, partially offset by lower Adjusted EBITDA of $5.4 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. (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 interim condensed 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 November 12, 2024 to discuss thirdquarter 2024 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: 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 November 11, 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 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, 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 communications@yp.ca Yellow Pages Limited Reports Third Quarter 2024 Financial and Operating Results and Declares a Cash Dividend1 Back to News Print Print

Press Releases Back to News Back to News Montreal (Quebec), May 14, 2025 — 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 ended March 31, 2025. “Our first quarter results show continued steady progress toward revenue stability, good profitability, and a strong cash balance,” said David A. Eckert, CEO of Yellow Pages Limited. Eckert commented on the key developments: · Progress toward revenue stability. “For the fifth consecutive quarter, we report a favorable ‘bending of the revenue curve’ in Q1, as our rate of change in revenue was better than the change reported for the previous quarter.” · Solid quarterly earnings. “Our Adjusted EBITDA2 for the quarter was 23.4% of revenue, even with our continued investments in revenue initiatives, including the steady continued expansion of our sales force.” · Strong cash balance. “Despite certain significant, seasonal cash disbursements during the quarter, cash still stood at approximately $49 million at the end of April.” Sherilyn King, President of Yellow Pages Limited, added, “We continue to be very pleased with our progress on metrics underlying our revenue generation, including the size of our sales force, the continued deceleration of the customer count decline rate, fueled by new customer acquisitions and stable renewal rates, and strong average spend per customer. We believe these fundamentals bode well for our medium- and long-term future. Also, our Board has once again declared a dividend of $0.25 per common share, to be paid on June 16, 2025 to shareholders of record as of May 27, 2025.” (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 interim condensed 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 ® 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. First Quarter of 2025 Results • Total Revenues decreased 7.6% year-over-year and amounted to $50.8 million for the three-month period ended March 31, 2025, an improvement from the decrease of 8.1% reported last quarter. • Adjusted EBITDA less CAPEX1 totalled $11.4 million and the EBITDA less CAPEX margin1 was 22.5%. • Net income amounted to $5.0 million, or to $0.35 diluted income per share. Financial Results for the First Quarter of 2025 Total revenues for the first quarter ended March 31, 2025 decreased by 7.6% year-over-year and amounted to $50.8 million as compared to $55.0 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 6.8% year-over-year and amounted to $40.7 million for the three-month period ended March 31, 2025 compared to $43.7 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 10.5% year-over-year and amounted to $10.1 million for the three-month period ended March 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 for total revenues, digital revenues and print revenues all improved year-over-year. The improvement of the revenue decline rates was mainly due to the deceleration of the customer count decline rate, fueled by an increase in new customer acquisitions, while renewal rates remained relatively stable and an increase in average spend per customer, due in part to price increases. Adjusted EBITDA1 decreased to $11.9 million or 23.4% of revenues in the first quarter ended March 31, 2025, relative to $15.3 million or 27.8% of revenues for the same period last year. The decrease in Adjusted EBITDA and Adjusted EBITDA margin1 for the three-month period ended March 31, 2025 is the result of revenue pressures, 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 optimization in cost of sales, reductions in other operating costs including reductions in our workforce and associated employee expenses. The revaluation of cash settled stock-based compensation liabilities resulted in a recovery of $1.3 million for the three-month period ended March 31, 2025 compared to a recovery of $1.9 million for the same period last year. Revenue pressures from product mix and investments in our tele-sales force capacity, partially offset by continued optimization and cost reductions, will continue to cause pressure on margins in upcoming quarters. Adjusted EBITDA less CAPEX decreased by $2.9 million to $11.4 million during the first quarter of 2025, compared to $14.3 million during the same period last year. The decrease in Adjusted EBITDA less CAPEX and Adjusted EBITDA less CAPEX margin for the three-month period ended March 31, 2025 is driven by the decrease in Adjusted EBITDA, partially offset by a decrease in CAPEX spend year-over-year. Net income for the three-month period ended March 31, 2025 amounted to $5.0 million as compared to net income of $8.4 million for the same period last year. The decrease is mainly due to lower Adjusted EBITDA and the increase in restructuring and other charges, partially offset by the decrease in income taxes. Cash flows from operating activities decreased by $2.2 million to $3.3 million for the three-month period ended March 31, 2025 from $5.5 million for the same period last year. The decrease is mainly due to lower Adjusted EBITDA of $3.4 million partially offset by a decrease in funding of post-employment benefit plans of $1.5 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 interim condensed 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. Conference Call & Webcast Yellow Pages Limited will hold an analyst and media call and simultaneous webcast at 8:30 a.m. (Eastern Time) on May 14, 2025 to discuss first quarter 2025 results. The call may be accessed by dialing 416-695-6725 within the Toronto area, or 1-866-696-5910 outside of Toronto, Passcode 4418135#. 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 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 May 13, 2025, 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 May 13, 2025 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 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 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 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 10 of our May 13, 2025 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 interim condensed consolidated statements of income. Refer to table below for reconciliation of Adjusted EBITDA less CAPEX. Yellow Pages Limited Reports First Quarter 2025 Financial and Operating Results and Declares a Cash Dividend Back to News Print Print