Gannett Priorities 2020-2021 Successfully implement $300 million in synergies over 24 monthsExpect
roughly half of synergies within 12 months, including revenue opportunitiesAggressively pay down debt with goal to refinance term loan at the end of 2021Leverage goal of ~2.0xSell $100 million in real estate assets over 24 monthsStabilize
revenue trends by leveraging increased scale, expanding growth products across entire portfolio & reducing reliance on print advertising, and implementing best practices Print advertising represents ~30% of revenues today, expected to
fall to <20% in 2022 3