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Auditor's Independence Declaration

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Auditor's Independence Declaration ASX RELEASE 18 August 2021 Appendix 4E for the year ended 30 June 2021 Results for Announcement to the Market Key Financial Information $'000 up/down % movement Revenue from ordinary activities 528,649 Down 2.1% Net profit from ordinary activities after tax (including significant items) 48,096 Up 91.6% Net profit from ordinary activities after tax (excluding significant items) 48,096 Up 40.7% Franked Amount amount Tax rate for Dividend Information per per share franking share cents credit cents Interim FY2021 dividend per share - - - Final FY2021 dividend per share 5.00 5.00 30% The dividend reinvestment plan has been suspended and will not apply to the final FY2021 dividend. Final FY2021 Dividend Dates Ex-dividend date 1 September 2021 Record date 2 September 2021 Payment date 1 October 2021 30 Jun 21 30 Jun 20 Net Tangible Assets Per Security $(0.47) $(0.77)1 Additional Appendix 4E disclosure requirements can be found in the directors’ report, financial statements and notes to the financial statements contained in the Southern Cross Austereo Financial Report for the year ended 30 June 2021. This report is based on the consolidated Financial Report for the year ended 30 June 2021 which has been reviewed by PricewaterhouseCoopers with the Independent Auditor's Review Report included in the Financial Report. For personal use only 1 On 6 November 2020, the Group announced completion of the one for ten share consolidation approved by shareholders at the AGM on 30 October 2020. The comparative has been adjusted accordingly. Southern Cross Media Group Limited Level 2, 257 Clarendon Street, South Melbourne VIC 3205 ABN 91 116 024 536 Southern Cross Media Group Limited ASX release Approved for release by the Board of directors. For further information, please contact: Southern Cross Media Group Limited Investors: Media: Nick McKechnie Rochelle Burbury Chief Financial Officer Corporate Communications Manager Tel: 03 9922 2001 Mob: 0408 774 577 About Southern Cross Austereo Southern Cross Austereo (SCA) is one of Australia’s leading media companies reaching more than 95% of the Australian population through its radio, television, and digital assets. Under the Triple M and Hit network brands, SCA owns 99 stations across FM, AM, and DAB+ radio. SCA provides national sales representation for 23 regional radio stations. SCA broadcasts 92 free to air TV signals across regional Australia, reaching 4.4 million people a week, with Network 10 programming and advertising representation across Australia’s East Coast, Seven Network programming in Tasmania and Darwin, and Seven, Nine and Network 10 programming in Spencer Gulf. SCA operates LiSTNR, Australia’s free, personalised audio destination for consumers featuring radio, podcasts, music, and news. SCA also provides Australian sales representation for global open audio platform SoundCloud and Sonos Radio. SCA's premium brands are supported by social media, live events and digital platforms that deliver national and local entertainment and news content. https://www.southerncrossaustereo.com.au/ For personal use only 2 SOUTHERN CROSS AUSTEREO FULL YEAR REPORT FOR YEAR ENDED 30 JUNE 2021 For personal use only Southern Cross Austereo comprises Southern Cross Media Group Limited and its subsidiaries. Southern Cross Media Group Limited Is a company limited by shares and incorporated and domiciled in Australia. The registered office of Southern Cross Media Group Limited is Level 2, 257 Clarendon Street, South Melbourne, Victoria 3205 Australia. Tel: +61 3 9252 1019. Corporate Governance Statement ............................................................................................................................... 2 Directors’ Report ......................................................................................................................................................... 2 Review and Results of Operations ................................................................................................................................ 2 Distributions and Dividends .......................................................................................................................................... 8 Significant Changes in State of Affairs........................................................................................................................... 8 Events Occurring After Balance Date ............................................................................................................................ 8 Likely Developments and Expected Results of Operations ........................................................................................... 8 Indemnification and Insurance of Officers and Auditors .............................................................................................. 8 Non-Audit Services ........................................................................................................................................................ 8 Environmental Regulation ............................................................................................................................................. 8 Information on Directors .............................................................................................................................................. 9 Information on Company Secretary ............................................................................................................................ 11 Meetings of Directors ................................................................................................................................................. 12 Remuneration Report ................................................................................................................................................. 13 Auditor’s Independence Declaration .......................................................................................................................... 37 Consolidated Statement of Comprehensive Income .................................................................................................. 38 Consolidated Statement of Financial Position............................................................................................................ 39 Consolidated Statement of Changes in Equity ........................................................................................................... 40 Consolidated Statement of Cash Flows ...................................................................................................................... 41 Notes to the Consolidated Financial Statements ....................................................................................................... 42 Key Numbers ............................................................................................................................................................... 43 Capital Management ................................................................................................................................................... 66 Other Notes to the Financial Statements.................................................................................................................... 82 Directors’ Declaration ................................................................................................................................................ 90 Independent auditor’s report to the members of Southern Cross Media Group Limited ........................................... 91 The financial statements were authorised for issue by the Directors on 18 August 2021. The Directors have the power to amend and re-issue the financial statements. For personal use only DIRECTORS’ REPORT FOR YEAR ENDED 30 JUNE 2021 Corporate Governance Statement The statement outlining Southern Cross Media Group Limited’s corporate governance framework and practices in the form of a report against the Australian Stock Exchange Corporate Governance Principles and Recommendations, 3rd Edition, will be available on the Southern Cross Austereo website, www.southerncrossaustereo.com.au, under the investor relations tab in accordance with listing rule 4.10.3 when the 2021 Annual Report is lodged. Directors’ Report The Directors of Southern Cross Media Group Limited (“the Company”) submit the following report for Southern Cross Austereo, being Southern Cross Media Group Limited and its subsidiaries (“the Group”) for the year ended 30 June 2021. In order to comply with the provisions of the Corporations Act 2001, the Directors report is as follows: Directors The following persons were Directors of the Company during the whole of the year, unless otherwise stated, and up to the date of this report: • Rob Murray (appointed Chairman 19 August 2020) • Peter Bush (Chairman until 19 August 2020; resigned 30 October 2020) • Grant Blackley (Managing Director) • Glen Boreham • Carole Campbell (appointed 1 September 2020) • Ido Leffler (appointed 30 October 2020) • Heith Mackay-Cruise (appointed 30 October 2020) • Helen Nash • Leon Pasternak (resigned 30 October 2020) • Melanie Willis Principal Activities The principal activities of the Group during the course of the financial year were the creation of audio content for distribution on broadcast (AM, FM and DAB radio) and digital networks. The group also broadcasts free to air television content in regional markets. These media assets are monetised via revenue generated from the development and sale of advertising solutions for
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