Back to Events Financial Executive Forum 2015 Add to my Calendar Back to Events Events

Back to News 12 novembre 2021 Résultats financiers et opérationnels du 3e trimestre de 2021 Ajouter à mon agenda Rapport de gestion (215,9 Kio) États financiers (185,7 Kio) Renseignements supplémentaires (3,8 Mio) Webdiffusion de la conférence téléphonique (en anglais) Retour aux événements Événements

Back to News 9 août 2018 Résultats financiers et opérationnels du 2e trimestre de 2018 Ajouter à mon agenda Rapport de gestion (167,4 Kio) Complément d’information (en anglais) (1,5 Mio) États financiers (117,4 Kio) Webdiffusion de la conférence téléphonique (en anglais) (4,4 Mio) Retour aux événements Événements

Back to Events Release of Q3 2017 Financial and Operational Results Add to my Calendar Management's Discussion and Analysis (162.4 KB) Financial Statements (92.6 KB) Supplemental Disclosure (5.6 MB) Webcast of the Conference Call Back to Events Events

Back to News 14 mai 2025 Résultats financiers et opérationnels du 1er trimestre de 2025 Ajouter à mon agenda Pages Jaunes Limitée tiendra une conférence téléphonique et une webdiffusion simultanée à l’intention des analystes et des médias à 8 h 30 (heure de l’est) le 14 mai 2025 pour commenter les résultats du premier trimestre de 2025. Vous pouvez assister à cette conférence en composant le 416-695-6725 dans la région de Toronto ou le 1-866-696-5910 pour toute autre région. Le code d'accès est le 4418135#. Prière de vous joindre à la conférence au moins 5 minutes à l’avance. Rapport de gestion États Financiers Renseignements supplémentaires Webdiffusion de la conférence téléphonique (en anglais) Retour aux événements Événements

Back to Events Q1 2019 Financial and Operational Results Add to my Calendar Management Discussion and Analysis (106.8 KB) Supplemental Disclosur e (1.3 MB) Financial Statements (108.9 KB) Webcast of the Conference Call Back to Events Events

Press Releases Back to News Back to News Montreal (Quebec), — 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, 2020. “We finished the year with another good quarter, generating strong cash while continuing to lay the groundwork for the future,” said David A. Eckert, President and CEO of Yellow Pages Limited. Eckert commented on the key developments for the quarter: Solid quarterly earnings. “Our Adjusted EBITDA2 for the quarter was a healthy 36% of revenue, contributing to a full-year EBITDA margin2 of 39%, despite the COVID-19 crisis and our investments in revenue initiatives.” Cash continued to build. “As of the end of January, our cash on hand was approximately $164 million.” Common stock NCIB effective. “Under our NCIB program, at the end of the year the Company had purchased 273,190 common shares for cash of $3.3 million.” Quarterly cash dividend1 declared. “Our Board has declared a cash dividend of $0.11 per common share, to be paid on March 15, 2021 to shareholders of record as of February 26, 2021.” Debt-free by June 1. “We reconfirm our intention to pay off our Exchangeable Debentures, at par, which are our only remaining debt, excluding lease obligations, on or around May 31, 2021. Our cash on hand at the end of January already significantly exceeds the $107 million principal amount of that debt.” Modest effect of COVID-19. “We have managed such that the effect of the ongoing COVID-19 crisis on our financial results is only a handful of percentage points. Bookings trends indicate a stabilization, suggesting a more stable revenue curve over the next couple of quarters, as the sales levels already booked become reported revenue.” Progress on revenue initiatives. “To prepare for the future, we have doubled our tele-sales capacity to significantly ramp up our acquisition of new accounts and we are executing on our programs to add to our strong product portfolio.” 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 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-IFRS 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-IFRS financial measures on page 5 of this document for more details. Fourth Quarter of 2020 Results Adjusted EBITDA less CAPEX1 totalled $26.2 million and the EBITDA less CAPEX margin1 was 34.1%. Net earnings decreased by $36.8 million to $16.8 million, or $0.58 per diluted share. Cash position at the end of the period was $153.5 million and approximately $163.7 million as at January 31, 2021. 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 which was integrated with the Company’s wholly-owned subsidiary, Yellow Pages Digital & Media Solutions Limited, as at September 30, 2019. The Other segment includes YP Dine digital property allowing users to discover, search for and book local restaurants in addition to offering online ordering capabilities until its sale on April 30, 2019. This segment also includes Mediative until its liquidation on January 31, 2019. Mediative’s offers included dedicated marketing and performance media services to national clients Canada-wide. Subsequent to the second quarter of 2019, there are no longer any operations being reported in this segment. An overview of each segment and the performance of each segment for the three-month periods and years ended December 31, 2020 and 2019 can be found in the February 10, 2021 Management’s Discussion and Analysis. Financial Results for the Fourth Quarter of 2020 Total revenues for the fourth quarter ended December 31, 2020 decreased by 18.0% year-over-year and amounted to $76.7 million as compared to $93.5 million for the same period last year. The decrease for the quarter ended December 31, 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 fourth quarter of 2020 were also impacted by the COVID-19 pandemic which impacted customer spend and to a lesser extent customer renewal rates. Adjusted EBITDA1 decreased to $27.6 million or 36.0% of revenues in the fourth quarter ended December 31, 2020, relative to $34.8 million or 37.2% of revenues for the same period last year. The decrease in Adjusted EBITDA and Adjusted EBITDA margin1 in the three-month period ended December 31, 2020 is the result of the revenue pressures 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, reductions in the Company’s office space footprint and other spending reductions across the segment. Revenue pressures, coupled with increased headcount in our salesforce partially offset by continued optimization, will create some pressure on margin in upcoming quarters. Adjusted EBITDA less CAPEX decreased by $6.6 million to $26.2 million during the fourth quarter of 2020, compared to $32.8 million during the same period last year. Net earnings for the three-month ended December 31, 2020 amounted to $16.8 million as compared to net earnings of $53.6 million for the same period last year due to higher recognition of previously unrecognized tax attributes and temporary differences in 2019. Earnings before taxes increased from $13.0 million in the fourth quarter of 2019 to $19.2 million for the three-month period ended December 31, 2020 as lower Adjusted EBITDA was more than offset by lower restructuring and other charges, 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-IFRS 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-IFRS financial measures on page 5 of this document for more details. Cash flows from operating activities increased by $3.4 million to $35.4 million for the three-month period ended December 31, 2020 from $32.0 million for the same period last year, mainly due to lower Adjusted EBITDA1 of $7.1 more than offset by an increase of $4.0 million from the change in operating assets and liabilities, lower interest paid of $4.8 million and lower payments of restructuring and other charges of $1.6 million. Financial Results for the Year Ended December 31, 2020 Revenues for the YP segment for the year ended December 31, 2020 decreased by $68.4 million or 17.0% year-over-year and amounted to $333.5 million compared to $401.9 million for the same period last year. The decrease for the year ended December 31, 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 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 year ended December 31, 2020 totalled $129.4 million or 38.8% of revenues compared to $161.0 million or 40.1% of revenues for the same period last year. The decrease in Adjusted EBITDA and Adjusted EBITDA margin1 for the year ended December 31, 2020 is the result of the overall revenue pressures in the segment partially offset by efficiencies in sales and operations from continued optimization and reductions in other operating costs including reductions in our workforce and associated employee expenses, reductions in the Company’s office space footprint and other spending reductions across the segment. In addition, the first quarter of 2019 was favorably impacted by an adjustment to the variable compensation expense due to employee attrition and previous year performances. Revenue pressures, coupled with increased headcount in our salesforce partially offset by continued optimization, will create some pressure on margin in upcoming quarters. Total revenues for the year ended December 31, 2020 decreased by 17.3% year-over-year and amounted to $333.5 million as compared to $403.2 million for the same period last year. Adjusted EBITDA decreased by 19.8% to $129.4 million or 38.8% of revenues for the year ended December 31, 2020, relative to $161.3 million or 40.0% of revenues for the same period last year. The year-over-year results for the year ended December 31, 2020 were attributable to the YP Segment. Adjusted EBITDA less CAPEX1 decreased by $27.7 million to $123.9 million for the year ended December 31, 2020, compared to $151.6 million during the same period last year. Net earnings for the year ended December 31, 2020 amounted to $60.3 million as compared to net earnings of $94.7 million for the same period last year due to higher recognition of previously unrecognized tax attributes and temporary differences in 2019. Earnings before taxes increased from $69.8 million in 2019 to $78.7 million for the year-ended December 31, 2020 as lower Adjusted EBITDA was more than offset by lower restructuring and other charges, financial charges and depreciation and amortization expenses. Cash flows from operating activities decreased by $17.8 million to $127.0 million for the year ended December 31, 2020 from $144.8 million for the same period last year. The decrease is mainly due to lower Adjusted EBITDA of $31.9 million and a reduction of $9.9 million from the change in operating assets and liabilities offset by the lower interest paid of $16.1 million and lower payments for restructuring and other charges of $8.0 million. As at December 31, 2020, the Company had $154.0 million of total debt, compared to $156.4 million as at December 31, 2019. As at December 31, 2020, the Company had ($52.4) million net debt excluding lease obligations1, compared to $54.1 million net debt excluding lease obligations as at December 31, 2019. 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-IFRS 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-IFRS financial measures on page 5 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 11, 2021 to discuss fourth 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 # 8577790. 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 February 10, 2021, 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 10, 2021 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 Non-IFRS 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 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 26 of our February 10, 2021 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-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 consolidated statements of income. Refer to page 5 and page 10 of the February 10, 2021 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-IFRS 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 48 of our consolidated financial statements for the years ended 2020 and 2019. 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 Fourth Quarter and Full Year 2020 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 16 juillet 2020 – Pages Jaunes Limitée (TSX : Y) (la « Société »), un chef de file canadien dans les domaines des médias numériques et des solutions marketing, a annoncé aujourd’hui une entente visant à prolonger de trois ans de plus le mandat de son président-directeur général David A. Eckert. Le conseil de la direction de la société a approuvé cette disposition dans le cadre d’une réunion qui s’est tenue tard aujourd’hui. « Nous sommes ravis et encouragés de savoir que David continuera de diriger la société alors que nous profitons de l’élan robuste des trois dernières années en visant à achever le redressement de la société, » affirme Susan Kudzman, présidente du conseil de Pages Jaunes Limitée. Monsieur Eckert affirme : « C’est un honneur pour moi de pouvoir continuer d’être à la tête d’une équipe magnifique composée de gens qui le sont tout autant, chez PJ. » Il poursuit : « Je crois que PJ nous propose une foule d’occasions. Nous continuons de bâtir une excellente entreprise au profit de nos actionnaires, de nos retraités, de nos employés, de nos clients et de nos collectivités. Je crois que notre avenir s’annonce bien et je suis heureux de savoir que j’en ferai partie. » 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.ca et 411.ca , ainsi que les applications mobiles PJ, Canada411 et 411, de même que les annuaires imprimés Pages Jaunes. Pour plus d’information, 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, des conditions financières et des activités de la Société. Ces déclarations sont prospectives puisqu’elles sont fondées sur nos attentes, en date du 16 juillet 2020, 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 12 mai 2020. 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. Personnes-ressources : Investisseurs Franco Sciannamblo Premier vice-président et chef de la direction financière investisseurs@pj.ca Médias John Ireland Premier vice-président, Efficacité organisationnelle communications@pj.ca David A. Eckert demeure PDG de Pages Jaunes Limitée en vertu d’une nouvelle entente de trois ans

Communiqués de presse Back to News Retour aux nouvelles Print Retour aux nouvelles Print Montréal (Québec), le 15 avril 2020 – Pages Jaunes Limitée (TSX : Y) (la « Société ») est heureuse d’annoncer que la Bourse de Toronto (la « TSX ») a accepté un avis déposé par Pages Jaunes Solutions numériques et médias Limitée (TSX : YPG.DB) (la « filiale ») de son intention de présenter une offre publique de rachat dans le cours normal des activités (l’« offre ») au moyen d’opérations réalisées par l’intermédiaire de la TSX ou d’un autre système de négociation canadien. L’avis prévoit que la filiale pourrait, au cours de la période de 12 mois qui commence le 20 avril 2020 et se termine le 19 avril 2021, racheter des débentures échangeables, subordonnées et de rang supérieur d’un capital maximum de 6 647 578 $ échéant le 30 novembre 2022 (les « débentures »), soit environ 10 % du flottant (terme défini dans les politiques de la TSX) de la filiale, compte tenu de débentures émises et en circulation d’un capital de 107 089 000 $ et d’un flottant de débentures d’un capital de 66 475 781 $ au 9 avril 2020. Le prix que la filiale paiera pour ces débentures correspondra au cours en vigueur au moment de l’acquisition. Le nombre réel de débentures qui pourra être racheté aux termes de l’offre sera établi par la direction de la filiale. Toutes les débentures seront rachetées aux fins d’annulation. Aux termes des politiques de la TSX, le montant en capital maximum des débentures qui pourront être rachetées en un jour aux termes de l’offre sera de 4 963 $, soit 25 % du capital de 19 853 $ des débentures, ce qui correspond au volume moyen des opérations quotidiennes à l’égard des débentures à la TSX pour la période de six mois terminée le 31 mars 2020 (pourvu que, jusqu’au 30 juin 2020, le montant maximum des débentures qui pourront être rachetées en un jour aux termes de l’offre soit de 9 926 $, soit 50 % du volume moyen des opérations quotidiennes à l’égard des débentures à la TSX). En outre, la filiale peut, une fois par semaine, effectuer un rachat en bloc de débentures qui n’appartiennent pas directement ou indirectement à des initiés de la filiale, conformément aux politiques de la TSX. Dans le cadre de l’offre, la filiale a mis sur pied un plan de rachat de titres automatique (un « plan de rachat ») avec un courtier désigné. Le plan de rachat vise à permettre le rachat de débentures lorsque sa filiale ne sera pas ordinairement autorisée à racheter des débentures en raison de restrictions réglementaires et de périodes d’interdiction d’opérations usuelles qu’elle s’est elle‑même imposées. Aux termes du plan de rachat, avant d’entamer une période d’interdiction d’opérations, la filiale peut, sans y être tenue, enjoindre au courtier désigné d’effectuer des rachats dans le cadre de l’offre conformément aux modalités du plan de rachat et aux politiques de la TSX durant la période d’interdiction d’opérations. Il sera tenu compte de tous les rachats effectués dans le cadre du plan de rachat aux fins du calcul du nombre de débentures rachetées aux termes de l’offre. Comme il a été annoncé le 13 février 2020, la Société entend effectuer un paiement de rachat facultatif afin de rembourser intégralement les débentures le 31 mai 2021 ou peu après cette date, à leur valeur nominale. Ainsi, le conseil d’administration de la Société estime que le rachat des débentures avant cette date serait dans l’intérêt financier de la Société, selon le prix de rachat, afin d’accélérer le processus de rachat anticipé. 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.ca et 411.ca . La Société détient également les applications mobiles PJ , Canada411 et 411 ainsi que les annuaires imprimés Pages Jaunes. Pour plus d’information, visitez www.entreprise.pj.ca . Le présent communiqué renferme des énoncés prospectifs au sujet des objectifs, des stratégies et de la situation financière de la Société, y compris l’intention de la filiale d’effectuer un paiement de rachat facultatif afin de rembourser intégralement les débentures le 31 mai 2021 ou peu après cette date, à leur valeur nominale. Ces énoncés sont prospectifs et sont fondés sur nos attentes actuelles, au 15 avril 2020, à propos de nos activités et marchés, ainsi que sur diverses estimations et hypothèses. Nos résultats réels pourraient différer sensiblement de nos attentes, si des risques connus ou inconnus ont une incidence sur nos activités ou si nos estimations ou hypothèses se révèlent inexactes. Par conséquent, rien ne garantit que des énoncés prospectifs se matérialiseront. Les risques qui pourraient faire en sorte que nos résultats diffèrent sensiblement de nos attentes actuelles sont analysés à la section 5 de notre rapport de gestion du 12 février 2020. Sauf si nous y sommes tenus par la loi, nous n’avons pas l’intention ni l’obligation de mettre à jour des énoncés prospectifs, et ce, même si de nouveaux renseignements deviennent disponibles par suite d’événements futurs ou pour toute autre raison. Pour plus d’information : Investisseurs Franco Sciannamblo Premier vice‑président et chef de la direction financière investors@pj.ca Médias John Ireland Premier vice‑président, Efficacité organisationnelle communications@pj.ca Pages Jaunes Limitée annonce la présentation d’une offre publique de rachat dans le cours normal des activités par Pages Jaunes Solutions numériques
et médias Limitée aux fins du rachat de débentures

Press Releases Back to News Back to News Montreal (Quebec), May 13, 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 ended March 31, 2020. The Company also announced that its Board of Directors has adopted a dividend policy of paying a quarterly cash dividend1 to its common shareholders of $0.11 per share. “We are very pleased with our first quarter results. Our Adjusted EBITDA less CAPEX margin2 continued to be strong, at 35.5%. Supported by appropriate levels of investment in our business, our various initiatives to “bend the revenue curve” produced an improved year-on-year rate of revenue change in our YP segment for the fifth consecutive quarter. And as of quarter-end, we had a cash balance of $70.9 million and had driven down our net debt excluding lease obligations2 to only $28.3 million. “Beginning late in the first quarter, the covid-19 pandemic has created great anxiety across Canada and around the world, and we do expect a financial impact from it in future quarters, as we have experienced some decline in revenue “bookings.” However, we are well-positioned to weather the storm, as we expect more businesses will be looking for ways to successfully serve their local communities and we have been adapting quickly to the situation. “We entered this period of uncertainty with high cash generation, much lowered debt, and a hefty cash balance. And every member of our team, all across the country and in every capacity, has continued working steadily to serve our customers, despite the obvious obstacles. As a result, we are announcing a first quarter regular dividend of $0.11 per common share, to be paid on June 15, 2020, and we are reaffirming our intention to fully repay our remaining debt, our exchangeable debentures, on or shortly after May 31, 2021, at par. Also, we intend to double our current monthly contributions to the company’s Defined Benefit Pension Plan, beginning in June 2020 and extending through next year,” said David A. Eckert, President and CEO of Yellow Pages Limited. Following the Corporation’s annual meeting of shareholders, the Board of Directors will formally declare a cash dividend1 of $0.11 per common share, payable on June 15, 2020 to shareholders of record as at May 29, 2020. First Quarter of 2020 Results Adjusted EBITDA less CAPEX2 totaled $31.3 million and the EBITDA less CAPEX margin2 was 35.5%. Net earnings remained relatively stable at $12.4 million, or $0.44 per diluted share. Cash at the end of the period stood at $70.9 million. (1) A portion of the dividends paid will not be eligible dividends as they come from earnings of acquired companies that were taxed at lower rates. Therefore, $0.07 per share of the current dividend will not be designated as an eligible dividend while the balance of $0.04 per share 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, 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. 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-month periods ended March 31, 2020 and 2019 can be found in the May 12, 2020 Management’s Discussion and Analysis. Financial Results for the First Quarter of 2020 Revenues for the YP segment for the three-month period ended March 31, 2020 totaled $88.3 million compared to $103.7 million for the same period last year. The $15.4 million or 14.8% decrease for the three-month period ended March 31, 2020 is mainly 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. Adjusted EBITDA for the YP segment for the three-month period ended March 31, 2020 totaled $32.6 million compared to $45.1 million for the same period last year. The Adjusted EBITDA margin for the YP segment for the first quarter of 2020 decreased to 36.9% compared to 43.5% for the same period last year. The decrease in Adjusted EBITDA and Adjusted EBITDA margins were mainly due to the revenue pressures, investments in customer care and in new customer acquisition and an increased bad debt provision related to the COVID-19 pandemic. These impacts were only partly offset by reductions in both our cost of sales and other operating costs including reductions in our workforce and associated employee expenses, reductions in the Company’s office space footprint and other spending reductions across the segment. The first quarter of 2019 was also favorably impacted by an adjustment to the variable compensation expense due to employee attrition and previous year performances. Total revenues for the first quarter ended March 31, 2020 of $88.3 million decreased by 15.7% as compared to $104.8 million for the same period last year. The decline in total revenue for the three-month period ended March 31, 2020 was due mainly to lower digital and print revenues in the YP segment. Adjusted EBITDA decreased by 28.2% to $32.6 million in the first quarter ended March 31, 2020, relative to $45.4 million for the same period last year. The Company’s Adjusted EBITDA margin for the first quarter of 2020 was 36.9% compared to 43.3% for the same period last year. The decrease in Adjusted EBITDA and Adjusted EBITDA margin was almost entirely due to the YP segment. Adjusted EBITDA less CAPEX decreased by $11.4 million to $31.3 million during the first quarter of 2020, compared to $42.8 million during the same period last year. The decrease in Adjusted EBITDA less CAPEX for the three-month period ended March 31, 2020 was mainly due to lower Adjusted EBITDA partially offset by lower capital expenditures due to decreased spending in software development in the YP segment. Net earnings for the three-month period ended March 31, 2020, remained relatively stable at $12.4 million as compared to net earnings of $12.7 million for the same period last year, as lower Adjusted EBITDA was essentially offset by lower depreciation and amortization and lower financial charges. Cash flows from operating activities decreased by $6.4 million to $27.1 million from $33.5 million for the three-month period ended March 31, 2019 mainly due to lower Adjusted EBITDA of$12.8 million partially offset by lower payments for restructuring and other charges of $3.8 million and lower interest paid of $0.5 million. Cash flows also benefited by a $1.3 million improvement in the change in operating assets and liabilities. As at March 31, 2020, the Company had $157.7 million of total debt, compared to $156.4 million as at December 31, 2019. As at March 31, 2020, the Company had $28.3 million of net debt excluding lease obligations1, compared to $54.1 million as at December 31, 2019. (1) 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 public companies. Refer to the section on Non-GAAP financial measures on page 4 of this document for more details including reconciliations to the most comparable IFRS financial measure. 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 13, 2020 to discuss first quarter 2020 results. The call may be accessed by dialing 416-340-2216 within the Toronto area, or 1-800-273-9672 outside of Toronto. 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 May 12, 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 May 12, 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 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. 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 10 of the May 12, 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 in 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 Continued Strong Financial and Operating Results in First Quarter 2020 and Announces a Cash Dividend(1) Payment of $0.11 per Common Share. Back to News Print Print

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Back to Events Q3 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 November 12, 2024 to discuss third 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 6613383#. 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