Clear Channel Outdoor Holdings, Inc. Reports Results For 2018 First Quarter

May 22, 2018 by Clear Channel Outdoor

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San Antonio, TX, May 22, 2018 – Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) today reported financial results for
the first quarter ended March 31, 2018.

“The investments we continue to make in both the Americas and International businesses to enhance our global network are
benefiting our marketing and advertising partners and generating results,” said Bob Pittman, Executive Chairman and Chief
Executive Officer of Clear Channel Outdoor Holdings, Inc. “In the first quarter, we have delivered against our strategy in key
markets worldwide by expanding our digital network, enhancing our programmatic solutions and data analytics capabilities and
winning new contracts.”

Rich Bressler, Chief Financial Officer of Clear Channel Outdoor Holdings, Inc. said: “We are encouraged by our start in the
first quarter of 2018. Revenue increased, operating income declined primarily due to a gain from the sale of our Indianapolis
market in the prior year, while OIBDAN increased. We continue to be committed to financial discipline as we invest in our
strategic growth initiatives.”

Key Financial Highlights
The Company’s key financial highlights for the first quarter of 2018 include:

• Consolidated revenue increased 9.9%. Consolidated revenue increased 4.4%, after adjusting for a $34.8 million impact
  from movements in foreign exchange rates and the $4.7 million impact of the sale of our business in Canada.
  • Americas revenues decreased $4.5 million, or 1.7%. Revenues increased $0.2 million, or 0.1%, after adjusting for
    the $4.7 million impact from the sale of our business in Canada.
  • International revenues increased $58.5 million, or 20.6%. Revenues increased $23.7 million, or 8.3%, after
    adjusting for a $34.8 million impact from movements in foreign exchange rates.
• Operating income (loss) decreased 139.1% to $(8.4) million, primarily due to the gain of $28.6 million recognized on
  the sale of our Americas Indianapolis market in the first quarter of 2017.
• OIBDAN increased 13.0%. OIBDAN increased 10.1%, excluding the impact from movements in foreign exchange
  rates and the impact of the sale of our business in Canada.