Mr. Terence Chan reports

ZOOMERMEDIA LIMITED ANNOUNCES FINANCIAL RESULTS FOR THE YEAR ENDED AUGUST 31, 2023

ZoomerMedia Ltd. has released its financial results for the fiscal year ended Aug. 31, 2023.

Consolidated results

For the 12 months ended Aug. 31, 2023, the company generated revenues of $63.3-million, operating expenses of $56.3-million and adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) of $7.0-million. Net loss for the same period was $300,000.

For the comparative fiscal year ended Aug. 31, 2022, the company generated revenues of $54.2-million, operating expenses of $44.9-million and adjusted EBITDA of $9.3-million. Net income for the same period was $3.5-million.

Additional information

Detailed financial information and management's discussion and analysis for the year ended Aug. 31, 2023, can be found on SEDAR+'s website. The financial information included in this release is qualified in its entirety and should be read together with the interim consolidated financial statements for the year ended Aug. 31, 2023, including the notes thereto.

About ZoomerMedia Ltd.

Founded by television and media icon Moses Znaimer in 2008, ZoomerMedia is a multimedia company devoted to creating content, services and experiences for Canada's most powerful audiences: the 17.2 million people aged 45-plus also known as zoomers, and the 13.7 million millennials and Generation Zs, coincidentally also called zoomers, who follow in their footsteps.

ZoomerMedia operates five TV, two radio, three print and 17 digital properties, including the newly acquired youth-friendly local news and lifestyle digital publications blogTO and DailyHive, and the subject-specific The Peak and Ludwig-Van websites covering Canada's business and Canada's arts scene, respectively. ZoomerMedia produces original TV, radio, podcast and print content, and offers clients creative audio and video production services, and bespoke events on site at its 2.6-acre complex in Toronto's Liberty Village.

For specific ZoomerMedia property names and focus, please see below.

ZoomerMedia's television properties include: VisionTV, available in 7.5 million households, is Canada's home for British comedy and drama series, plus uplifting movies, music, news, and multicultural and multilingual faith programming; and OneTV: the exercise and entertainment channel, combines original yoga, Pilates, tai chi, and cardio dance and kettlebell fitness series with British serial soaps, dramas and American movies, JoyTV in Vancouver, Victoria, Surrey and the Fraser Valley, and Faith TV in Winnipeg are devoted to broadcasting Christian, multifaith and local content.

ZoomerMedia's zoomer digital network (ZDN): reaching 18.5 million monthly active users with over a billion annual page views and social media engagements, ZDN comprises: DailyHive and the DailyHive website in Western Canada, Ontario, Quebec and the Maritimes, Canada's most followed news brands with over 10 million monthly active users, over 270 million annual page views, and 3.1 million followers across Instagram, Facebook, Twitter (X), TikTok and LinkedIn; blogTO and the blogTO website, Toronto's unrivalled local publisher across digital and social media platforms, bringing in eight million monthly active users and over 213 million page views annually; Zoomer Magazine's EverythingZoomer website, Canada's leading provider of on-line content targeting the 45-plus; The Peak and Read the Peak website, serving 150,000 Canadian professionals and business leaders with the top global business, finance and technology stories of the day packaged in smart, fast and easily digestible formats; and Ludwig Van and the Ludwig-Van website, Canada's leading and fastest-growing digital voice for the latest classical, opera, chamber and choral music headlines, reviews, comments, and personality-driven features and interviews.

ZoomerMedia's radio properties include: The New Classical FM, Canada's only commercial all classical music radio station broadcasting over three frequencies in a unique regional Ontario network: 96.3FM CFMZ-FM Toronto (Greater Toronto Area), 103.1FM CFMX-FM Cobourg (Eastern Ontario) and 102.9FM CFMO-FM Collingwood (Southern Georgian Bay); and Zoomer Radio, the original greatest hits, the biggest broadcast footprint in Canada also reaching 28 American states and broadcasting simultaneously both in AM and FM in Toronto (740AM CFZM-AM and 96.7FM CFZM-FM).

ZoomerMedia's print properties include: Zoomer Magazine, the company's flagship magazine and Canada's largest paid circulation magazine for the 45-plus market; On The Bay Magazine, the dominant regional lifestyle magazine published quarterly for the 20 towns and villages of Ontario's Southern Georgian Bay; and Tonic Magazine, a regional health and wellness magazine distributed across the city of Toronto.

We seek Safe Harbor.