ew 2% Year-over-Year – Returned Total Company Affiliate & Subscription Revenue to Growth, up 1% Year-over-Year – Generated $180 Million of Net Operating Cash Flow and $123 Million of Free Cash Flow Skydance Transactions Expected to Close in First Half of 2025 STATEMENT FROM GEORGE CHEEKS, CHRIS MCCARTHY & BRIAN ROBBINS, CO-CEOS We are very pleased with our performance in the quarter driven by a powerful content slate and focused execution. Paramount+ again had the second most Top 10 SVOD Originals, and CBS is poised to be the most-watched network for the 17th consecutive season. We are particularly proud of our progress in DTC where Paramount+ saw continued improvement in subscribers, user watch time and churn and remains on track to reach domestic profitability for 2025. Taken together, this contributed to a nearly $180 million improvement in DTC profitability. These impressive results were driven by our talented teams and creative partners, and we are grateful for their contributions. Q1 2025 CONSOLIDATED RESULTS Total company revenue decreased 6%, which included an 8 percentage point impact from CBS’s broadcast of Super Bowl LVIII in the year ago period. Excluding the Super Bowl comparison, Q1 revenue grew 2%. Total company advertising revenue decreased 19%, reflecting a 19 percentage point impact from CBS’s broadcast of Super Bowl LVIII in the year ago period. Excluding the comparison, Q1 advertising revenue was unchanged. $ IN MIL

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Text is the filed exhibit, verbatim.