CORUS ENTERTAINMENT PROVIDES UPDATE REGARDING CREDIT FACILITY

Executive Summary

• Corus Entertainment entered into a waiver and standstill agreement with its lenders under the Eighth Amended and Restated Credit Agreement, extending access to liquidity through the revolving facility.
• The agreement waives certain financial covenants (leverage and interest‑coverage ratios) until May 30 2026, supporting the company’s previously announced recapitalization transaction.
• The waiver ensures continued borrowing capacity and mitigates covenant breach risk following the expiry of the prior amendment on February 28 2026.

Key Details

• Agreement Type: Waiver and standstill agreement with lenders under the Eighth Amended and Restated Credit Agreement (the “Credit Facility”).
• Effective Date: Entered into March 2 2026; term runs through May 30 2026.
• Purpose: Provides continued access to liquidity, including use of the revolving facility, by waiving certain financial covenants.
• Covenants Waived: Leverage ratio and interest‑coverage ratio requirements (specific thresholds not disclosed).
• Context: Follows expiry on February 28 2026 of the prior amendment dated March 21 2025; aligns with Corus’s previously announced recapitalization transaction.
• Documentation: Agreement to be filed on SEDAR+ (www.sedarplus.ca).

Notable Quotes

(No executive quotes were included in the release.)