CORUS ENTERTAINMENT ANNOUNCES EXTENSION OF CREDIT FACILITIES

TORONTO, June 3, 2021Corus Entertainment Inc. (“Corus”) (TSX: CJR.B) announced today that it has completed an agreement to amend and restate its existing syndicated senior secured credit facilities with its bank group, led by RBC Capital Markets and TD Securities. Pursuant to the amendment and restatement, the term loan was adjusted from $1.8 billion as at the May 31, 2019 amendment to $0.9 billion, reflecting principal repayments made since the term loan was last amended, including from the net proceeds of the 5% senior unsecured notes due May 11, 2028. The term loan tranches have been combined into a single facility and the maturity date extended to May 31, 2025. The maturity date for the $300 million revolving credit facility has also been extended to May 31, 2025.

A copy of the amended and restated credit agreement will be filed on SEDAR at www.sedar.com.

About Corus Entertainment Inc.
Corus Entertainment Inc. (TSX: CJR.B) is a leading media and content company that develops and delivers high quality brands and content across platforms for audiences around the world. Engaging audiences since 1999, the company’s portfolio of multimedia offerings encompass 33 specialty television services, 39 radio stations, 15 conventional television stations, a suite of digital and streaming assets, animation software, technology and media services. Corus is an internationally-renowned content creator and distributor through Nelvana, a world class animation studio expert in all formats and Corus Studios, a globally recognized producer of hit scripted and unscripted content. The company also owns innovative full-service social digital agency so.da, lifestyle entertainment company Kin Canada, leading 2D animation software supplier Toon Boom and children’s book publishing house, Kids Can Press. Corus’ roster of premium brands includes Global Television, W Network, HGTV Canada, Food Network Canada, HISTORY®, Showcase, Adult Swim, National Geographic, Disney Channel Canada, YTV, Global News, Globalnews.ca, Q107, Country 105, and CFOX, along with broadly distributed Canadian streaming platforms STACKTV, Nick+, the Global TV App and Curiouscast. For more information visit www.corusent.com.

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For further information, please contact:

Investor inquiries:
Heidi Kucher
Director, Investor Relations
Corus Entertainment Inc.
Heidi.Kucher@corusent.com

Media inquiries:
Melissa Eckersley
Director, Corporate Communications
Corus Entertainment Inc.
Melissa.Eckersley@corusent.com