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Press Releases Back to News Back to News Montreal (Quebec), February 10, 2022 — Yellow Pages Limited (TSX: Y) (the “Company”), a leading Canadian digital media and marketing company, announced it has introduced a unique advertising solution that centralizes the small and medium sized business’s (“SMB’s”) digital marketing into a single platform. “SMB owners often struggle with deciding where to allocate their advertising dollars to maximize their return on investment. Our new Multi-Channel Ads solution allows SMBs to launch within days of sale, digital ads that will be shown at the right time, to the right customer, on the right platforms, including Google, Meta and Instagram,” said Sherilyn King, Senior Vice President Sales, Marketing and Customer Service of Yellow Pages Limited. She continued, “Our offering is enabled by our new strategic partnership with GotU, an innovative, AI-based digital campaign creation and optimization platform.” “We are excited to partner with Yellow Pages and work together on innovative projects. Our combined, deep industry knowledge and expertise will assist in making Yellow Pages’ SMBs a success”, said Paolo Portioli, CEO of GotU. About Yellow Pages Limited Yellow Pages Limited (TSX: Y) is a Canadian digital media and marketing company that creates opportunities for buyers and sellers to interact and transact in the local economy. Yellow Pages holds some of Canada’s leading local online properties including YP.ca , Canada411 and 411.ca . The Company also holds the YP, Canada411 and 411 mobile applications and Yellow Pages print directories. For more information visit www.corporate.yp.ca . Contacts: Investors Franco Sciannamblo Senior Vice-President and Chief Financial Officer investors@yp.ca Media Treena Cooper Senior Vice President, Secretary and General Counsel communications@yp.ca About GotU GotU Limited is a MarTech company present in various markets, primarily EMEA and North America, which develops technology and offers unique hyperlocal, cross channel advertising and marketing services aimed at Resellers who support the growth of local SMEs and Brands that want to promote their stores locally. We design innovative, AI-based platforms to assist with supporting the number of clients visiting websites and stores. For more information visit https://gotu.io Yellow Pages Limited Announces an Innovative Digital Solution that Helps Businesses Improve their Advertising ROI Back to News Print Print

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Press Releases Back to News Back to News Montreal (Quebec), August 6, 2020 — Yellow Pages Limited (TSX: Y) (the “Company”), a leading Canadian digital media and marketing company, released its operating and financial results today for the quarter and six months ended June 30, 2020 and made a number of major announcements. “We are very pleased with our second quarter results, and today we make a number of significant announcements,” said David A. Eckert, President and CEO of Yellow Pages Limited. Eckert commented on the major developments: Adjusted EBITDA less CAPEX of 45.8%. “Our Adjusted EBITDA less CAPEX margin1 was an almost-unprecedented 45.8%, reflecting continued strength in our business.” Modest effect of COVID-19 crisis on revenue. “When the COVID-19 crisis hit, virtually all of our employees were efficiently working from home within a week. And we retained virtually all of them, avoiding furloughs and layoffs, so that we could serve our customers and maintain our momentum. That allowed the downward effect of the crisis on our revenues in the quarter to be only a handful of percentage points.” Encouraging revenue outlook. “The trends in our bookings, although suggesting a very modest additional hit to our revenue curve for another couple of quarters, are nearing pre-COVID levels. And our analysis suggests that the bulk of our COVID-related revenue declines are due to lower spending levels by individual customers, which we believe can be regained, rather than business closures or increased losses of accounts.” Net Debt extinguished. “As of today, our cash on hand, approximately $110 million, exceeds our debt, so our net debt excluding lease obligations1 is better than zero. And we recommit to fully paying off our Exchangeable Debentures, at par, on or around May 31, 2021.” Major new revenue initiatives. “Over the next 120 days, we are phasing three exciting new products into our offering. Also, by year-end, we expect to have doubled our tele-sales capacity, to significantly ramp up our acquisition of new accounts. These moves, long in the making and testing, are carefully designed to further bend our revenue curve toward stability.” Quarterly dividend2 declared. “Our Board has declared a dividend of $0.11 per common share, to be paid on September 15, 2020 to shareholders of record as of August 28, 2020.” Doubling of contribution to pension plan. “As we announced we would, we have begun doubling the currently required contributions to our Defined Benefit Pension Plan, for the benefit of our retirees.” Launching purchases of stock. “Today we are also announcing an NCIB to repurchase shares of our common stock.” Further detail on the NCIB is found below. (1) Adjusted EBITDA is equal to Income from operations before depreciation and amortization, and restructuring and other charges (defined herein as Adjusted EBITDA), as shown in Yellow Pages Limited’s consolidated statements of income. Adjusted EBITDA, Adjusted EBITDA margin, CAPEX, Adjusted EBITDA less CAPEX, Adjusted EBITDA less CAPEX margin and Net debt excluding lease obligations are non-GAAP financial measures and do not have any standardized meaning under IFRS. Therefore, they are unlikely to be comparable to similar measures presented by other public companies. Refer to the section on Non-GAAP financial measures on page 5 of this document for more details.(2)The dividend will be designated as an eligible dividend pursuant to subsection 89(14) of the Income Tax Act (Canada) and any applicable provincial legislation pertaining to eligible dividends. Second Quarter of 2020 Results Adjusted EBITDA less CAPEX totaled $40.4 million and the EBITDA less CAPEX margin1 was 45.8%. Net earnings increased by $7.4 million at $22.0 million, or $0.73 per diluted share. Cash position at the end of the period was $97.7 million and was $109.7 million as at August 5, 2020. Segmented Information The Company’s operations are categorized into two reportable segments: YP and other. The YP segment provides small and medium-sized businesses across Canada digital and traditional marketing solutions, including online and mobile priority placement on Yellow Pages’ owned and operated media, content syndication, search engine solutions, website fulfillment, social media campaign management and digital display advertising, video production and print advertising. This segment also includes the 411.ca digital directory service helping users find and connect with people and local businesses. The Other segment includes YP Dine digital property until its sale on April 30, 2019 and the Mediative division until its liquidation on January 31, 2019. An overview of each segment and the performance of each segment for the three and six-month periods ended June 30, 2020 and 2019 can be found in the August 5, 2020 Management’s Discussion and Analysis. Financial Results for the Second Quarter of 2020 Revenues for the YP segment for the second quarter of 2020 decreased by $18.3 million or 17.2% year-over year and amounted to $88.3 million compared to $106.6 million for the same period last year. The decrease for the quarter ended June 30, 2020 is due to the decline of our higher margin YP digital media and print products and to a lesser extent to our lower margin digital services products, thereby creating pressure on our gross profit margins. Revenues for the second quarter of 2020 were also impacted by the COVID-19 pandemic which impacted customer spend and to a lesser extent customer renewal rates. Adjusted EBITDA for the YP segment for the three-month period ended June 30, 2020 totaled $41.9 million or 47.5% of revenues compared to $43.4 million or 40.7% of revenues for the same period last year. The decrease in Adjusted EBITDA in the second quarter ended June 30, 2020 is the result of the revenue pressures in the YP segment partially offset by efficiencies in sales and operations from optimization and reductions in other operating costs including reductions in our workforce and associated employee expenses, reduction in the Company’s office space footprint and other spending reductions across the segment which resulted in an increase in Adjusted EBITDA margin. For the second quarter of 2020, Adjusted EBITDA and Adjusted EBITDA margin also benefited from a $4.8 million emergency wage subsidy and paused spending. Modest additional effects on revenue of the COVID-19 pandemic, coupled with increased headcount in our salesforce, will create some pressure on margin in upcoming quarters. 1) Adjusted EBITDA is equal to Income from operations before depreciation and amortization, and restructuring and other charges (defined herein as Adjusted EBITDA), as shown in Yellow Pages Limited’s consolidated statements of income. Adjusted EBITDA, Adjusted EBITDA margin, CAPEX, Adjusted EBITDA less CAPEX, Adjusted EBITDA less CAPEX margin and Net debt excluding lease obligations are non-GAAP financial measures and do not have any standardized meaning under IFRS. Therefore, they are unlikely to be comparable to similar measures presented by other public companies. Refer to the section on Non-GAAP financial measures on page 5 of this document for more details. Total revenues for the second quarter ended June 30, 2020 of $88.3 million decreased by 17.3% as compared to $106.8 million for the same period last year. The decline in total revenue for the three-month period ended June 30, 2020 was due to the YP segment. Adjusted EBITDA1 decreased by 3.4% to $41.9 million or 47.5% of revenues in the second quarter ended June 30, 2020, relative to $43.4 million or 40.7% of revenues for the same period last year. The year over year results for the three-month period were attributable to the YP Segment. Adjusted EBITDA less CAPEX1 decreased by $0.2 million to $40.4 million during the second quarter of 2020, compared to $40.6 million during the same period last year. The decrease in Adjusted EBITDA less CAPEX for the three-month period ended June 30, 2020 was due to the YP segment. Net earnings for the three-month period ended June 30, 2020, increased to $22.0 million as compared to net earnings of $14.6 million for the same period last year. The improvement in profitability of $7.4 million for the three-month period ended June 30, 2020, compared to the same periods last year, is explained principally by lower financial charges, lower depreciation and amortization expenses, and a decrease in restructuring and other charges partially offset by lower Adjusted EBITDA. Cash flows from operating activities increased by $3.1 million to $31.7 million for the three-month period ended June 30, 2020 from $28.6 million for the same period last year, mainly due to lower interest paid of $10.6 million partially offset by a reduction of $8.9 million from the change in operating assets and liabilities. As at June 30, 2020, the Company had $154.1 million of total debt, compared to $156.4 million as at December 31, 2019. As at June 30, 2020, the Company had $2.1 million of net debt excluding lease obligations1, compared to $54.1 million as at December 31, 2019. As at August 5, 2020, the cash position was $109.7 million making the company debt free on a net debt excluding lease obligations1 basis. Common Share NCIB The Toronto Stock Exchange (the “TSX”) has accepted a notice filed by the Company of its intention to make a Normal Course Issuer Bid (the “Bid”) to be transacted through the facilities of the TSX or any alternative Canadian trading system. The notice provides that the Company may, during the twelve-month period commencing on August 10, 2020 and ending on August 9, 2021, purchase up to 1,403,765 common shares (“Shares”), being approximately 5% of the Company’s 28,075,308 issued and outstanding common shares as of July 27, 2020. The price which the Company will pay for any such Shares will be the prevailing market price at the time of acquisition. The actual number of Shares which may be purchased pursuant to the Bid will be determined by management of the Company. All Shares will be purchased for cancellation. Notwithstanding the foregoing, the Company will limit the purchase of common shares to approximately $5.0 million until such time as the Subordinated Exchangeable Debentures are fully repaid. Pursuant to TSX policies, the maximum amount of Shares that may be purchased in one day pursuant to the Bid will be approximately 2,510 Shares, representing 25% of 10,041 Shares, being the average daily trading volume of the Shares on the TSX for the six months ended July 31, 2020. In addition, the Company may make, once per week, a block purchase of Shares not directly or indirectly owned by insiders of the Company, in accordance with TSX policies. In connection with the Bid, the Company entered into an automatic securities purchase plan (“ASPP”) with a designated broker. The ASPP is intended to allow for the purchase of Shares when the Company would ordinarily not be permitted to purchase Shares due to regulatory restrictions and customary self-imposed blackout periods. Pursuant to the ASPP, before entering into a blackout period, the Company may, but is not required to, instruct the designated broker to make purchases under the Bid in accordance with the terms of the ASPP and TSX policies during the blackout period. Such purchases will be determined by the designated broker at its sole discretion based on purchasing parameters set by the Company in accordance with the rules of the TSX and any applicable alternative Canadian trading system, applicable securities laws and the terms of the ASPP. The ASPP will be in effect for the term of the bid. All purchases made under the ASPP will be included in computing the number of Shares purchased under the Bid. 1) Adjusted EBITDA is equal to Income from operations before depreciation and amortization, and restructuring and other charges (defined herein as Adjusted EBITDA), as shown in Yellow Pages Limited’s consolidated statements of income. Adjusted EBITDA, Adjusted EBITDA margin, CAPEX, Adjusted EBITDA less CAPEX, Adjusted EBITDA less CAPEX margin and Net debt excluding lease obligations are non-GAAP financial measures and do not have any standardized meaning under IFRS. Therefore, they are unlikely to be comparable to similar measures presented by other public companies. Refer to the section on Non-GAAP financial measures on page 5 of this document for more details. The Board of Directors of the Company (the “ Board ”) believes that during the course of the Bid the market price of the Shares may not reflect the value of the Company’s underlying business and the repurchase of Shares may be an attractive use of the Company’s cash on hand and means of creating shareholder value. As a result, depending upon future price movements and other factors, the Board believes that the purchase of the Shares may be in the best interest of the Company and its shareholders. Furthermore, the purchases are expected to benefit all persons who continue to hold Shares by increasing their equity interest in the Company when the repurchased Shares are cancelled. Conference Call & Webcast Yellow Pages Limited will hold an analyst and media call and simultaneous webcast at 8:30 a.m. (Eastern Time) on August 6, 2020 to discuss second 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 #7445874 . 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 August 5, 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 August 5, 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 11 of the August 5, 2020 MD&A for a reconciliation of CAPEX and Adjusted EBITDA less CAPEX, respectively. Net debt excluding lease obligations Net debt excluding lease obligations is a non-GAAP financial measure and does not have any standardized meaning under IFRS. Therefore, it is unlikely to be comparable to similar measures presented by other publicly traded companies. Net debt excluding lease obligations is comprised of Exchangeable debentures less Cash as presented in our consolidated statements of financial position. We use net debt as indicator of the Company's ability to cover financial obligations and reduce debt and associated interest charge as it represents the amount of debt excluding lease obligations that is not covered by available cash. We believe that certain investors and analysts use net debt to determine a company’s financial leverage. The most comparable IFRS financial measure is total debt, as presented in the capital disclosures note on page 49 of our Audited consolidated financial statements for the years ended 2019 and 2018. The table below provides a reconciliation of total debt to net debt excluding lease obligations. Yellow Pages Limited Reports Strong Financial and Operating Results in Second Quarter 2020, Announces Major New Revenue Initiatives, Declares a Cash Dividend, and Announces Normal Course Issuer Bid (NCIB) to Repurchase Common Shares Back to News Print Print

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

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Back to Events Q4 2022 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 15, 2023 to discuss fourth quarter 2022 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 2713953#. Please be prepared to join the conference at least 5 minutes prior to the conference start time. Management's Discussion and Analysis (283 KB) Financial Statements (939 KB) Supplemental Disclosure (6.4 MB) Back to Events Events

Back to Events Q4 2015 and Full Year 2015 Financial and Operational Results Add to my Calendar Management's Discussion and Analysi s (252.3 KB) Financial Statements (310.3 KB) Supplemental Disclosure (5.8 MB) Fact Sheet (404.3 KB) Webcast of the Conference Call Back to Events Events

Previous Next Rob Hall Back Rob Hall Director and Chair of the Board Rob Hall is Executive Deputy Chairman at Yell (a UK business providing digital marketing services and formerly part of the Hibu Group) and holds several Board of Director positions within its affiliates. Having spent 20 years in various roles at Yell/Hibu, his most recent position prior to his Directorship posts was as Group Chief Financial Officer of Hibu until 2018. Mr. Hall holds a Bachelor of Science in Business Studies from the University of Swansea, United Kingdom and holds the title of Chartered Management Accountant.

Back to News 12 février 2026 Résultats financiers et opérationnels du 4e 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 12 février 2026 pour commenter les résultats du quatrième trimestre de 2025. Assister à cette conférence par téléphone : Cliquez sur le lien Rejoindre par téléphone et complétez le formulaire d’enregistrement en ligne. Suite à l’enregistrement vous allez recevoir les informations de connexion par téléphone et un numéro unique pour rejoindre l’appel ainsi qu’un courriel de confirmation avec les détails. Sélectionnez une méthode pour rejoindre l’appel: Connexion: Un numéro de téléphone et un code unique sont affichés afin de vous connecter directement à partir de votre appareil. Rappelle-moi : Entrez votre numéro de téléphone et cliquez «Rappelez-moi» pour un rappel immédiat du système. L’appel vient d’un numéro de téléphone des États Unis. Se joindre par diffusion web : Webdiffusion de la conférence téléphonique (en anglais) Prière de vous joindre à la conférence au moins 5 minutes à l’avance. Rapport de gestion États Financiers Renseignements supplémentaires Retour aux événements Événements

Back to Events Q1 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 May 11, 2023 to discuss first 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 2713953#. 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