Gannett

December 7, 2015

UBS 43rd Annual Global Media and Communications Conference

Forward-Looking Statements

Certain statements in this presentation may be forward looking in nature or constitute “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. The words “believe,” “expect,” “estimate,” “could,” “should,” “intend,” “may,” “plan,” “seek,” “anticipate,” “project” and similar expressions, among others, generally identify “forward-looking statements,” which speak only as of the date the statements were made. The matters discussed in these forward-looking statements are subject to a number of risks, trends and uncertainties that could cause actual results to differ materially from those projected, anticipated or implied in the forward-looking statements. A number of those risks, trends and uncertainties are discussed in the Company’s filings with the U.S. Securities and Exchange Commission, including the Company’s registration statement on Form 10. Any forward-looking statements should be evaluated in light of these important risk factors. The Company is not responsible for updating or revising any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

This presentation also contains a discussion of certain non-GAAP financial measures that the Company presents in order to allow investors and analysts to measure, analyze and compare its financial condition and results of operations in a meaningful and consistent manner. A reconciliation of these non-GAAP financial measures to the most directly comparable GAAP measures can be found in the Company’s registration statement on Form 10, which is available through the investor relations portion of our website.

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Robert J. DickeyPresident and Chief Executive Officer

• Served as President of Parent's U.S.Community Publishing, formerly NewspaperDivision, since February 2008

• Previously, Mr. Dickey served as Senior GroupPresident, Pacific Group and Chairman ofPhoenix Newspapers, Inc. from 2005-2008;President and Publisher of The Desert Sun,Palm Springs, CA, from 1993-2005; and GroupVice President of the Pacific Group, from1997-2005

• Serves on the board of the NationalNewspaper Association and was Chairmanof the Board from March 2014 throughMarch 2015

Alison K. EngelSenior Vice President

Chief Financial Officer and Treasurer

• Served as Vice President of Finance of Parentsince January 2015

• Previously, Ms. Engel served as Senior VicePresident, Chief Financial Officer and Treasurer ofA. H. Belo Corporation, from December 2007through November 2014

• From 2003 through January 2008, she held varioussenior positions with Belo Corp., serving as its VicePresident and Corporate Controller from January2006 to January 2008 and as its Director/Accounting Operations and CorporateController from February 2005 to December 2006

MANAGEMENT TEAM ON SITE TODAY

John M. ZidichPresident of Domestic

Publishing

• Responsible for the integrationof content, sales, B-2-Bmarketing, communityengagement, publishing anddistribution for all of Gannett'scommunity media markets,USA TODAY and their relatedproducts

• Key Prior AffiliationsRepublic Media, The Arizona Republic, RenoGazette-Journal, The Record

• Joined in June 2015.

• Previously, Mr. Dickerson served as Vice President of

Finance and Business Development for Babcock & Wilcox

Nuclear Energy, Inc. (April 2013 – May 2015); and Vice

President and Investor Relations Officer for Babcock &

Wilcox (NYSE: BWC), June 2010 – April 2013. Previously

served as Vice President of Finance, Investor Relations and

Corporate Development for General Cable Corporation,

(NYSE: BGC) March 2004 – June 2010.

• Member of Senior Roundtable for National Investor Relations

Institute, American Institute of Certified Public Accountants,

and the Ohio Society of Certified Public Accountants

Email: mdickerson@gannett.com Phone: (703) 854-6185

Michael P. DickersonVice President of Investor Relations

Gannett

Robert Dickey, President and Chief Executive Officer

Company Overview

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Company Name

Gannett Co., Inc.

Incorporation

Delaware

President and CEO

Robert J. Dickey

Headquarters

McLean, VA

Employees

18,500

2014 Revenues

$3.2 billion

Ticker Symbol

GCI

Profile

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LEADING MEDIA AND MARKETING COMPANY

• Gannett is a leading media and marketing company with unparalleled

local-to-national reach, successfully connecting consumers, communities

and businesses.

• Gannett owns USA TODAY, 92 strong local media organizations in 33

states and Guam, and more than 160 local news brands in the U.K.

• Each month more than 100 million unique visitors access content from

USA TODAY and Gannett’s local media organizations, making the

company a Top 4 powerhouse in the U.S. news and information category.

• U.S. newspapers add an additional audience of 9 million readers every

weekday.6

LOCAL PUBLICATIONS IN STABLE MID-SIZED MARKETS THROUGHOUT THE U.S.

• 92 daily local markets - Acquisition of JMG will add 14 new markets

• Well positioned in mid-size and smaller markets

• Geographical diversity a core strength

• Rebalancing resources towards differentiated and relevant local reporting

JMG Locations

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ATTRACTIVE LOCAL CIRCULATION AND ADVERTISING REVENUE PROFILE

Local Market Circulation*Circulation Revenue

Full Access

Including Digital

Only 81.7%

Single Copy

16.5%

Other 1.8%

*Excludes Texas New Mexico Newspapers Partnership

Full access includingdigital only subscriptionrevenue provides Gannett a more stable revenue base

Local accountsoffer stronger protection from secular pressures

• 2.6M Full Access including Digital Only Subscriptions

• 70% of Subscribers are either on EZ Pay or Annual Payments

• Full Access including Digital Only Subscription Revenue flat YTD

• Local Digital Advertising makes up 28% of Local Account revenue

• Overall Local Online makes up 24% of total Local revenue

Advertising & Marketing Services Revenue

National Major

Retail Accounts

22%

Local Market Advertising*

National Major

Retail Accounts 24%Local 76%

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• Implemented All Access content subscription model in 2012

• ~30 million unique domestic visitors

• Large user base accessing content via desktops, smartphones and tablets

• ~2 million downloads of local newspaper

apps

• Diversified digital revenues

LARGE AND GROWING DIGITAL REVENUE BASE

$523

$676

$704

$709

2012 2013 2014 LTM Q3 2015*

Advertising58%

Circulation38%

Other4%

35% since

2012

Digital Revenues (millions)

Digital Revenues by Category

* Excludes $16.2 million of cost subject to netting against revenues in Q3 2015

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USA TODAY NETWORK: A POWERFUL AND UNIQUE NATIONAL BRAND

1 Source: comScore Media Metrix2 Source: Alliance for Audited Media

• #1 publication with total daily

circulation of nearly 4 million

• Average cross-platform page

views of more than 1.0 billion

per month

• Valuable brand leveraged

across numerous businesses

• 22+ million downloads of USA

TODAY's award-winning app

• Quality content delivered on

multiple platforms drive visitors

and engagement

• Sports continue to be a driver of

growth for USA TODAY

Daily Average Circulation (MM) 2

21.4 26.340.1

52.4

Q4 2012 Q2 2013 Q2 2014 Q3 2015

Unique Visitors

USA TODAY Sports Media Group (MM)

1.72.9

4.1

3.9

Sept 12 Sept 13 Sept 14 Sept 15

129% since

2012

145% since

2012

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• Top regional community news provider in the U.K.

• 19 daily paid-for titles

• 150+ weekly print products, magazines and trade publications

• Well-positioned in mid-size and smaller markets

• Network of websites including s1, a leading employment website in Scotland, and other digital products

• Total average print readership of 6 million every week

• ~22 million monthly unique visitors to Newsquest digital platforms

• Industry leading margins

1 Source: Omniture Web Analytics (Newsquest data)

A LEADING COMMUNITY PUBLISHER IN THE U.K.

£27.0

£30.3

£36.3

£39.2

2012 2013 2014 LTM Q3 2015

Digital Revenue (£m) Accelerating

9.8

12.9

18.1

22.4

2012 2013 2014 Sept 2015

Digital Audience (Average Monthly Browsers - Millions)

Robust and Growing Digital Revenues and Audience

45% since

2012

129% since

2012

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Gannett

Ali Engel, Senior Vice President and Chief Financial Officer

Financial Highlights

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Third Quarter Financial Highlights

Q3 2015 Q3 2014 B/(W)

Revenues, as reported $ 701.2 $ 767.3 -8.6%

Operations exited in prior year (7.6) -Effects of FX 8.4 Prospective accounting for third party digital revenue 16.2 -

Revenue before impact of acquired businesses 725.8 759.7 -4.5%

Businesses acquired in Q2 2015 (26.9) -

Revenues, as adjusted $ 698.9 $ 759.7 -8.0%

Adjusted EBITDA $ 97.0 $ 102.9 -$5.7Adjusted EBITDA % 13.9% 13.4% 0.5%

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INVESTMENT HIGHLIGHTS

• $701 million 3Q revenues at 13.8% Adjusted EBITDA

margin

• Achieved $160 million total quarterly digital revenues,

101.4 million unique domestic digital visitors.

• Cost reduction estimated at $67 million to be

achieved by first half of 2016.

Strong Financial Profile

• High level of stable cash flow. Free Cash Flow

of $116 million for third quarter of 2015

• Dividend of $0.16 per share, $0.64 per share

annualized

Well-Positioned to Make Accretive Acquisitions

• Announced the acquisition of Journal Media Group for

$280 million, roughly 3.3x post-synergy adjusted EBITDA

multiple.

• Completed the acquisitions of the remaining 59.4% in the

Texas-New Mexico Newspaper Partnership and

Romanes Media Group in the UK in the second quarter.

Integrations ahead of schedule.

• Undrawn $500 million revolver plus $142 million cash on

hand

• Share buyback program of $150 million

High Liquidity Available for Return of Capital to Shareholders

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COMMITTED TO RETURNING CAPITAL TO SHAREHOLDERS

• Allocating capital to create value

• Direct returns to shareholders

• Investment in the business

• Strategic and accretive acquisitions

• Repayment of debt, if any

Illustrative Free Cash Flow Allocation

Free Cash Flow (2014) $274

Less: Dividends 731

Less: Repurchases 501

Excess Annual Cash Flow Available for

Accretive Investments / Further Return of

Capital

$151

In millions of dollars

($ in millions)

Gannett is paying an annual cash dividend of $0.64 / share and approved a $150MM share repurchase program, to be used over a 3-year period

• Declared $0.16 quarterly dividend per share

• Total annual expected dividends and share repurchases

represents 26% of 2014A EBITDA

1 Assumption for a full calendar year

Significant available liquidity for accretive acquisitions and further returns of capital to shareholders

Disciplined Capital Policy

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Gannett Merger with Journal Media Group

In millions of dollars

Financial Highlights

$450 million in annual revenues

First year adjusted EBITDA of approximately $60 million

Post-synergy multiple of 3.3X

Immediately EPS accretive: approximately $0.10 - $0.15 per share in the first full year and $0.20 - $0.25 in

the second year.

Strategic Highlights

Adds 15 dailies and 18 weeklies in 14 local markets, in nine states; includes key markets such as

Milwaukee, WI and Memphis and Knoxville, TN.

Adds daily and Sunday circulation of approximately 675,000 and 950,000, respectively.

Adds more than 10 million unique digital domestic visitors a month.

Leverages Gannett’s existing industry-leading content and national USA TODAY brand, enables the

integration of Journal Media Group properties onto Gannett’s Digital Platform, and delivers additional

scale for National-to-local strategy.

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Fragmented market provides consolidation opportunities at attractive multiples

Source: BIA; PWC Global entertainment and media outlook 2014-2018¹ BIA data of newspaper companies with daily circulation in excess of 10,000

Daily Circulation by Company1

Total daily circulation: 41 million

Other includes ~200 companies with over 2,000 titles

Gannett 12%Digital First Media 8%

News Corp. 6%

Tribune Publishing 5%

McClatchy 5%

New York Times 4%

Advance 3%

BH Media 3%

Lee 3%

Hearst 2%

New Media 2%

Other 45%

SUBSTANTIAL CONSOLIDATION OPPORTUNITY

Gannett plans to acquire more local markets to add scale and increase its national footprint

Acquisitions bring significant top line and bottom line synergy opportunities

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Targeting markets between 0.5M and 3M population

Additional targeted characteristics include university presence, state capital, diversified economy and ability to consolidate around market

MULTIPLE MARKET CONSOLIDATION SYNERGIES

Consolidate back-office and infrastructure

• GPS – Manage production and distribution more efficiently than most independents and smaller chains

• Design Studios – Bring efficiencies to acquired sites by taking in design and copy editing

• NSSC/CCC/Finance Hubs – Take financial operations into our consolidated shared service centers

USA TODAY

• Local Edition - Leverage improved subscriber value proposition through pricing

Leverage Company-Wide Content and Resources

• Local Sales Expertise – Elevate the skill of local sales staffs by providing world-class training and research out of our regional sales organization

• National Sales Team – Increase advertising through existing national relationships, and streamline advertising at acquired sites

• Digital Platform – Apply our digital platform to new properties

• Content – Tap into content from across our entire footprint

• Consumer Marketing – Leverage the investments made in consumer sales capabilities to improve sales at acquired sites

• G/O – Provide digital marketing services to acquired sites 18

Gannett

John Zidich, President of Domestic Publishing

Recent Trends

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RECENT TRENDS

Preprint revenues

Online revenue (without recruitment)

Local market circulation

USA TODAY local edition

National digital revenue

Operating expenses

Slight improvement

Mid-single digits

Trends improving each month

25 non-Gannett markets, 35 Gannett markets

Growth accelerating

$67 million expense reduction plan on track

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Appendix

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Adjusted EBITDA

Three months ended Nine months ended

Sept. 27, 2015 Sept. 28, 2014 Sept. 27, 2015 Sept. 28, 2014

Net income (GAAP basis) $ 39,166 $ 50,557 $ 125,740 $ 143,845

Provision for income taxes 10,141 16,524 34,611 47,296

Equity income in unconsolidated investees, net (609 ) (2,737 ) (11,411 ) (9,995 )

Other non-operating items 3,415 1,851 (18,022 ) 1,172

Operating income (GAAP basis) 52,113 66,195 130,918 182,318

Early retirement program 10,572 — 18,373 —

Severance related charges 5,872 2,885 25,386 13,180

Other transformation items 66 5,390 3,093 38,239

Asset impairment charges — — 3,618 —

Adjusted operating income (non-GAAP basis) 68,623 74,470 181,388 233,737

Depreciation 25,291 24,925 73,677 73,767

Amortization 3,096 3,461 10,103 10,448

Adjusted EBITDA (non-GAAP basis) $ 97,010 $ 102,856 $ 265,168 $ 317,952

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Adjusted EPS

Three months ended Nine months ended

Sept. 27, 2015 Sept. 28, 2014 Sept. 27, 2015 Sept. 28, 2014

Early retirement program $ 10,572 $ — $ 18,373 $ —

Severance related charges 5,872 2,885 25,386 13,180

Other transformation items 66 5,390 3,093 38,239

Asset impairment charges — — 3,618 —

Acquisition related expenses (gain) 1,022 — (19,599 ) —

Pretax impact 17,532 8,275 30,871 51,419

Income tax impact of above items (6,373 ) (2,000 ) (10,337 ) (18,500 )

Impact of items affecting comparability on net income $ 11,159 $ 6,275 $ 20,534 $ 32,919

Net income $ 39,166 $ 50,557 $ 125,740 $ 143,845

Impact of items affecting comparability on net income 11,159 6,275 20,534 32,919

Adjusted net income $ 50,325 $ 56,832 $ 146,274 $ 176,764

Earnings per share - diluted $ 0.33 $ 0.44 $ 1.08 $ 1.25

Impact of items affecting comparability on net income 0.10 0.05 0.18 0.29

Adjusted earnings per share - diluted $ 0.43 $ 0.49 $ 1.26 $ 1.54

Diluted weighted average number of common shares

outstanding 118,168

114,959

116,029

114,959

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