CORUS ENTERTAINMENT PROVIDES UPDATE REGARDING CREDIT FACILITY

TORONTO, Aug. 31, 2026 /CNW/ -- Corus Entertainment Inc. (TSX: CJR.B) ("Corus" or the "Company") announced today that it has entered into a third amending agreement to the waiver and standstill agreement dated as of February 28, 2026, as amended by a first amending agreement dated as of May 29, 2026 and a second amending agreement dated as of June 30, 2026 (the "Waiver"), with lenders under the Company's Eighth Amended and Restated Credit Agreement (the "Credit Facility"). This third amending agreement extends the term of the Waiver from September 1, 2026 to October 31, 2026 in light of the Company's previously announced recapitalization transaction. The Waiver enables the Company's continued access to liquidity, including under the Credit Facility, by providing waivers of certain financial covenants, such as those relating to leverage and interest coverage ratios, subject to the terms and conditions therein.

A copy of the amending agreement will be filed under the Company's profile on SEDAR+ at www.sedarplus.ca.

About Corus Entertainment Inc.
Corus Entertainment Inc. (TSX: CJR.B) is a leading media and content company that develops, delivers, and distributes high quality brands and content across platforms for audiences around the world. Engaging audiences since 1999, the company's portfolio of multimedia offerings encompasses 25 specialty television services, 36 radio stations, 15 conventional television stations, digital and streaming platforms and social digital agency and media services. Corus' roster of premium brands includes Global Television, W Network, Flavour Network, Home Network, The HISTORY® Channel, Showcase, Slice, Adult Swim, National Geographic and Global News, along with streaming platforms STACKTV, TELETOON+, Vivéo, the Global TV App, and Curiouscast. For more information visit www.corusent.com.

SOURCE Corus Entertainment Inc (IR Group)

Investor inquiries: Heidi Kucher, Director, Investor Relations, Corus Entertainment Inc., [email protected]; Media inquiries: Melissa Eckersley, Head of Corporate Communications and Relations, Corus Entertainment Inc., [email protected]