Gray Media, Inc. ("Gray") (NYSE:GTN) today announced updated financial guidance for the quarter ending September 30, 2026, updating guidance originally issued on August 7, 2026. The update is being provided in connection with lender meetings to potentially refinance its credit facility and presentations to investors it may make from time to time. While Gray is in the process of finalizing its third quarter financial results, the following updated estimates reflect the most current operational information and expectations available to the company as of the date of this release. For the estimates not listed below, our original guidance issued on August 7, 2026, remains unchanged. As always, guidance may change in the future based on several factors and therefore may not reflect future actual results.

Gray currently anticipates that it will have no outstanding borrowings under its Revolving Credit Facility as of September 30, 2026. Current borrowing capacity under Gray’s Accounts Receivable Securitization facility is approximately $379 million, reflecting lower core commercial receivables driven by strong political advertising revenues, which are paid in advance.

Gray currently expects to report its third quarter 2026 financial results on Friday, November 6, 2026, and host its quarterly investor call at 11AM that morning.