New York Times Co

On June 13, 2025, the Company entered into an amendment and restatement of the credit facility that increased the committed amount from $350 million to $400 million and extended the maturity date from July 27, 2027, to June 13, 2030.

SEC original ↗New York Times Co — Earnings release (8-K exhibit)EX-99Aug 6, 2025

As of June 30, 2025, there were no outstanding borrowings under this credit facility, and the Company did not have other outstanding debt.

SEC original ↗New York Times Co — Earnings release (8-K exhibit)EX-99Aug 6, 2025

Shares Repurchases During the quarter ended June 30, 2025, the Company repurchased 460,136 shares of its Class A Common Stock for an aggregate purchase price of approximately $23.6 million.

SEC original ↗New York Times Co — Earnings release (8-K exhibit)EX-99Aug 6, 2025

As of August 1, 2025, approximately $422.2 million remains available and authorized for repurchases.

SEC original ↗New York Times Co — Earnings release (8-K exhibit)EX-99Aug 6, 2025

Capital Expenditures Capital expenditures totaled approximately $10 million in the second quarter of 2025 compared with approximately $9 million in the second quarter of 2024.

SEC original ↗New York Times Co — Earnings release (8-K exhibit)EX-99Aug 6, 2025

The New York Times Company Digital-only subscription revenues increase 13 - 16% Total subscription revenues increase 8 - 10% Digital advertising revenues increase low-double-digits Total advertising revenues increase low-to-mid-single-digits Affiliate, licensing and other revenues increase high-single-digits Adjusted operating costs increase 5 - 6% The Company expects the following on a pre-tax basis in 2025 Depreciation and amortization approximately $80 million, which includes approximately $28 million of acquired intangible assets amortization, Interest income and other, net approximately $40 million, and Capital expenditures approximately $40 million.

SEC original ↗New York Times Co — Earnings release (8-K exhibit)EX-99Aug 6, 2025

Meredith Kopit Levien, president and chief executive officer, The New York Times Company, said, We had a great second quarter across the board, and our strategy continues to work as designed.

SEC original ↗New York Times Co — Earnings release (8-K exhibit)EX-99Aug 6, 2025

That, combined with a strong balance sheet, means we can keep investing in the unparalleled journalism and best-in-class product portfolio that we see as our enduring advantage.

SEC original ↗New York Times Co — Earnings release (8-K exhibit)EX-99Aug 6, 2025

All of which makes us confident that continued execution against our strategy will deliver even more value to even more people, and result in a larger and more profitable business.

SEC original ↗New York Times Co — Earnings release (8-K exhibit)EX-99Aug 6, 2025

Terms such as aim, anticipate, believe, confidence, contemplate, continue, conviction, could, drive, estimate, expect, forecast, future, goal, guidance, intend, likely, may, might, objective, opportunity, optimistic, outlook, plan, position, potential, predict, project, seek, should, strategy, target, will, would or similar statements or variations of such words and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such terms.

SEC original ↗New York Times Co — Earnings release (8-K exhibit)EX-99Aug 6, 2025

The Company considers free cash flow as providing useful information to management and investors about the amount of cash that is available to be used to strengthen the Company s balance sheet, for strategic opportunities, including investing in the Company s business and strategic acquisitions, and or for the return of capital to stockholders in the form of dividends and stock repurchases.

SEC original ↗New York Times Co — Earnings release (8-K exhibit)EX-99Aug 6, 2025

Second quarter 2025 results included the following special items $3.5 million of pre-tax litigation-related costs ($2.6 million or $0.02 per share after tax) in connection with a lawsuit against Microsoft Corporation and Open AI Inc.

SEC original ↗New York Times Co — Earnings release (8-K exhibit)EX-99Aug 6, 2025

and various of its corporate affiliates alleging unlawful and unauthorized copying and use of the Company s journalism and other content in connection with their development of generative artificial intelligence products ( Generative AI Litigation Costs ).

SEC original ↗New York Times Co — Earnings release (8-K exhibit)EX-99Aug 6, 2025

Management determined to report Generative AI Litigation Costs as a special item beginning in the first quarter of 2024 because, unlike other litigation expenses, the Generative AI Litigation Costs arise from a discrete, complex and unusual proceeding and do not, in management s view, reflect the Company s ongoing business operational performance.

SEC original ↗New York Times Co — Earnings release (8-K exhibit)EX-99Aug 6, 2025

Se cond quarter 2024 results included the following special item $2.0 million of Generative AI Litigation Costs ($1.5 million or $0.01 per share after tax).

SEC original ↗New York Times Co — Earnings release (8-K exhibit)EX-99Aug 6, 2025

Operating costs in the second quarters of 2025 and 2024 included Generative AI Litigation Costs of $3.5 million and $2.0 million, respectively.

SEC original ↗New York Times Co — Earnings release (8-K exhibit)EX-99Aug 6, 2025

Forward-looking statements are based upon our current expectations, estimates and assumptions and involve risks and uncertainties that change over time actual results could differ materially from those predicted by such forward-looking statements.

SEC original ↗New York Times Co — Earnings release (8-K exhibit)EX-99Aug 6, 2025