Gleason will step into the Executive Chairman of the Board of Directors role

New York, March 29, 2024: Adams Outdoor Advertising (“Adams” or “the Company”), one of the largest out-of-home media operators in the United States, today announced the retirement of Chief Executive Officer, Kevin Gleason, effective April 1st. After spending more than 30 years at the helm of Adams, Gleason will move to the role of Executive Chairman of the Company’s Board of Directors and remain intimately involved in the organization. A competitive search is underway for Gleason’s replacement, and in the interim the CEO responsibilities will be assumed by Richard Zecchino (Chief Legal Officer), Evan Raine (Chief Financial Officer), and Josh Scharfberg (Chief Revenue Officer), who together have more than 55 years of combined industry experience.

Gleason joined Adams Outdoor Advertising in 1988, at the infancy of the Company and has grown it into one of the four largest out-of-home media operators in the United States and the largest privately held company in the sector. His hard work and dedication have been an integral force behind the Company’s growth over the past three decades.

“On behalf of the Board and investors, we want to extend our gratitude to Kevin for his role in making Adams what it is today,” said Darren Glatt, Partner at Searchlight Capital Partners. “Kevin’s fingerprints are on every bit of success the Company has achieved over the past thirty years, including Adams’ strong culture and the impressive leadership team Kevin has assembled, both of which will be key to helping Adams remain on its growth trajectory path. We thank Kevin for his many years of service and look forward to continuing to collaborate with him in his new role as Executive Chairman.”

Commenting on his retirement, Gleason added: “It has been an honor to lead Adams all these years and to push the bounds of what people associate with outdoor advertising. I am proud of the team we have built and the growth we have achieved together across our diverse and expansive portfolio. The decision to retire was bittersweet, but it was made easier knowing that Adams will be in the most capable of hands. While I will be taking a step back from daily operations, I am excited to take on the role of Executive Chairman and continue to help the Company create transformative change.”

Founded in 1983, Adams has been instrumental in promoting the power of outdoor advertising by providing clients with bespoke media solutions to target audiences at the local level. In September 2021, Adams announced a strategic investment with Searchlight Capital Partners, L.P., a leading global private investment firm, in partnership with British Columbia Investment Management Corporation (“BCI”), one of the largest asset managers in Canada.

About Adams Outdoor Advertising

Adams Outdoor Advertising (“Adams”) is a privately owned company offering out-of-home and online media solutions. Adams offers unique and award-winning creative, audience-

based multi-media sales expertise, and a people-first approach to client service. Adams boldly proclaims its mission of reinventing the medium known as outdoor by proving it to be more relevant and powerful than anyone has yet to imagine. By maintaining strong member relations with industry leaders such as Geopath and the OAAA, Adams employs data-driven media proficiency that raises the standard for out-of-home. For more information, please visit www.adamsoutdoor.com.

About Searchlight Capital Partners, L.P.

Searchlight is a global private investment firm with approximately $12 billion in assets under management and offices in New York, London, Miami and Toronto. Searchlight seeks to invest in businesses where its long-term capital and strategic support accelerate value creation for all stakeholders. For more information, please visit www.searchlightcap.com.

About BCI

British Columbia Investment Management Corporation (BCI) is amongst the largest institutional investors in Canada with C$233 billion under management, as of March 31, 2023. Based in Victoria, British Columbia, with offices in Vancouver and New York City, BCI is invested in: fixed income and private debt; public and private equity; infrastructure and renewable resources; as well as real estate equity and real estate debt. Through its direct investments, private equity focuses on sectors included financial and business services, healthcare, industrials, consumer, and technology-media-telecom across the Americas, Europe, and Asia Pacific. For more information, please visit www.bci.ca.