Business Description

DESCRIPTION OF BUSINESS Clear Channel Outdoor Holdings, Inc. (“CCOH”) is a publicly traded company that sells out-of-home advertising on displays it owns or operates, including roadside billboards, street furniture and airport displays, using both digital and printed formats. The Company’s common stock is listed on the New York Stock Exchange under the symbol “CCO.” References in these financial statements to “the Company,” “we,” “us” and “our” refer to Clear Channel Outdoor Holdings, Inc. and its consolidated subsidiaries. Business Overview Historically, the Company operated in the U.S. and various international markets. Beginning in 2021, the Company’s Board of Directors authorized a review of strategic alternatives for its international businesses as part of a broader strategy to focus on the Company’s more profitable U.S. operations. Since that time, the Company has completed the sale of substantially all of its international businesses and has entered into a definitive agreement to sell its business in Spain. Business Segments As of December 31, 2025 , the Company operates two reportable segments: • America, which includes the Company’s U.S. roadside billboard and street furniture operations, and • Airports, which includes the Company’s U.S. and Caribbean airport advertising operations. Operations in Singapore are reported as “Other.” Refer to Note 4 for additional information on the Company’s reportable segments. Prior to December 31, 2024, the Company operated four reportable segments: America, Airports, Europe-North and Europe-South. Refer to Note 3 for additional information regarding the disposition of the Company’s former international segments. Discontinued Operations The Company has classified its former Europe-South and Europe-North segments and its Latin American businesses as discontinued operations. The business in Spain is also classified as discontinued operations and remains held for sale as of December 31, 2025. In accordance with U.S. generally accepted accounting principles (“GAAP”), assets and liabilities of discontinued operations are presented separately in the Consolidated Balance Sheets, and results of discontinued operations are reported as a separate component of “Consolidated net income (loss)” in the Consolidated Statements of Income (Loss) for all periods presented. Cash flows related to discontinued operations are included within the Consolidated Statements of Cash Flows and are not separately presented. Refer to Note 3 for additional information on discontinued operations. Unless otherwise noted, all other notes to these consolidated financial statements present the results of continuing operations. Subsequent Event On February 9, 2026, the Company entered into a definitive agreement to be acquired by an investor consortium. See Note 15, Subsequent Events, for additional information.