Te Gna Inc . . Content Tha T Ma T Ters . Brands Tha T Deliver

TEGNA TEGNA INC. CONTENT THAT MATTERS. BRANDS THAT DELIVER. BRANDS THAT MATTERS. CONTENT THAT TEGNA INC. 7950 JONES BRANCH DR., MCLEAN, VA 22107 . 2015 ANNUAL REPORT REPORT ANNUAL 2015 WWW.TEGNA.COM Company Shareholder Profile Services TEGNA Inc., formerly Gannett Co., Inc., journalists take their First Amendment It is the largest online job site in North TEGNA STOCK THIS REPORT WAS WRITTEN is comprised of a dynamic portfolio responsibilities seriously and deliver America, measured both by traffic TEGNA Inc. shares are traded on the New York Stock Exchange with the symbol TGNA. The AND PRODUCED BY company’s transfer agent and registrar is Wells Fargo Bank, N.A. General inquiries and requests EMPLOYEES OF TEGNA. of media and digital businesses that relevant, innovative and impactful con- and revenue, and has a presence in for enrollment materials for the programs described below should be directed to Wells Fargo provide content that matters and brands tent. Combined, TEGNA’s TV stations, more than 60 markets worldwide. Shareowner Services, P.O. Box 64854, St. Paul, MN 55164-0854 or by telephone at 1-800-778-3299 Vice Pesident & Controller that deliver. TEGNA delivers highly across 23 states, are renowned for their Together, Cars.com and CareerBuilder or at www.shareownerservices.com. Cam McClelland relevant, useful and smart content, when outstanding journalism and have been provide TEGNA’s advertising partners DIVIDEND REINVESTMENT PLAN Assistant Controller and how people need it, to make the recognized with numerous national with access to two very important The Dividend Reinvestment Plan (DRP) provides TEGNA shareholders the opportunity to purchase James Reynolds best decisions possible. Our agile and honors including Edward R. Murrow, categories – automotive and human additional shares of the company’s common stock free of brokerage fees or service charges through Corporate Consolidations Team automatic reinvestment of dividends and optional cash payments. Cash payments may range from a forward-thinking portfolio of television Alfred I. duPont, George Foster Peabody, capital solutions. Dimeterice Ferguson minimum of $10 to a maximum of $5,000 per month. and digital businesses comprise one of National Headliner, George Polk and Also part of this powerful digital mix Ben Fernando the largest, most geographically diverse Emmy awards. is G/O Digital, a one-stop shop for local AUTOMATIC CASH INVESTMENT SERVICE FOR THE DRP Varun Kanwar broadcasters in the U.S. and two top On the digital side, Cars.com is businesses looking to connect with This service provides a convenient, no-cost method of having money automatically withdrawn Suzanne Kuo Lorraine Licayan digital companies, Cars.com and the leading online destination for consumers through localized digital from your checking or savings account each month and invested in TEGNA stock through your DRP account. Mark Ramsey CareerBuilder, as well as several other automotive consumers offering credible, marketing. From search to social and Evan Strong well-positioned and growing online objective information about car shop- everything in between, G/O Digital DIRECT DEPOSIT SERVICE BINDING Manager/Corporate companies. ping, selling and servicing. With over offers a strategic approach in building TEGNA shareholders may have their quarterly dividends electronically credited to their checking or savings accounts on the payment date at no additional cost. Communications TEGNA Media includes 46 television 30 million monthly visits to its web an integrated digital marketing solution Steve Kidera stations (including those serviced by properties, Cars.com leverages its based on the unique needs of each local ANNUAL MEETING Creative Director/Designer TEGNA) and is the largest independent growing consumer audience to help business. G/O Digital helps businesses The annual meeting of shareholders will be held at 10 a.m. (E.T.), Thursday, May 5, 2016, at TEGNA headquarters. Michael Abernethy station group of major network affiliates automotive marketers more effectively get connected, be found and stay in the top 25 markets. TEGNA Media reach car buyers and sellers, as well as engaged with consumers across more CORPORATE GOVERNANCE Printing reaches approximately one-third of all those looking for trusted service than 110 local markets. We have posted on the Corporate Governance page under the “Investors” menu of our web site Action Printing, Fond du Lac, WI (www.tegna.com) our principles of corporate governance, ethics policy, related person transaction television households nationwide and providers. CareerBuilder is the global TEGNA Digital also includes policy and the charters for the audit, nominating and public responsibility and executive compen- represents the #1 NBC affiliate group, leader in human capital solutions, Cofactor, a digital marketing company sation committees of our board of directors, and we intend to post updates to these corporate #1 CBS affiliate group and #4 ABC affil- helping the world’s top employers attract that is uniquely positioned to bridge the governance materials promptly if any changes (including through any amendments or waivers of the iate group (excluding owner-operators). great talent. CareerBuilder provides divide between online and offline worlds ethics policy) are made. This site also provides access to our annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K as filed with the SEC. Our chief executive Millions of consumers turn to TEGNA services ranging from labor market and enables brands to intelligently officer and our chief financial officer have delivered, and we have filed with our 2015 Form 10-K, all Media throughout their day to navigate intelligence to talent management soft- deliver content everywhere, driving certifications required by the rules of the SEC. Complete copies of our corporate governance their world more successfully. Our ware and other recruitment solutions. sales locally. materials and our Form 10-K may be obtained by writing our Secretary at our corporate headquarters. In accordance with the rules of the New York Stock Exchange, our chief executive officer has certified, without qualification, that such officer is not aware of any violation by TEGNA of the NYSE’s corporate governance listing standards. Printed on recycled paper. Combined, TEGNA’s brands have tremendous reach. Each month, FOR MORE INFORMATION This report was printed using News and information about TEGNA is available on our web site. Quarterly earnings information soy-based inks. The entire report TEGNA reaches more than will be available in late April, July and October 2016. Shareholders who wish to contact the company contains 10% total recovered fiber/ directly about their TEGNA stock should call Shareholder Services at TEGNA headquarters, all post-consumer waste. 90 million U.S. adults 703-854-6677. across broadcast and digital media, empowering them to TEGNA Headquarters act with conviction and navigate their world successfully. 7950 Jones Branch Drive, McLean, VA 22107 • 703-854-7000 Table of Contents 2015 Financial Summary .....................................1 Letter to Shareholders .........................................2 Board of Directors ..................................................7 Company and Divisional Officers ..................8 Form 10-K FINANCIAL SUMMARY Operating revenues, in millions In thousands, except per share amounts 2015 2014 Change 14 $2,626 Operating revenues ....................... $ 3,050,945 $ 2,626,141 16.2% 15 $3,051 Operating income .......................... $ 913,158 $ 707,499 29.1% Net income attributable to TEGNA Inc. before asset impairment Adjusted EBITDA (1) ..................... $ 1,055,894 $ 911,139 15.9% and other special items, in millions Net income from continuing operations attributable to 14 $284 TEGNA, Inc. .................................. $ 357,458 $ 687,936 (48.0%) 15 $330 Net income per share from continuing operations – diluted ...... $ 1.56 $ 2.97 (47.5%) Net income per diluted share before asset impairment and other Net income attributable to special items TEGNA Inc. before asset impairment and other special 14 $1.22 items (2)......................................... $ 330,344 $ 284,043 16.3% 15 $1.44 Net income per diluted share before asset impairment and other charges (2) ........................... $ 1.44 $ 1.22 18.0% Free cash flow (3) .......................... $ 557,139 $ 670,845 (16.9%) Working capital .............................. $ 198,376 $ 179,610 10.4% Long-term debt .............................. $ 4,200,816 $ 4,488,028 (6.4%) Total assets ................................... $ 8,537,758 $1 1,242,195 (24.1%) Capital expenditures ...................... $ 118,767 $ 150,354 (21.0%) Shareholders’ equity ...................... $ 2,191,971 $ 3,254,914 (32.7%) Dividends declared per share ........ $ 0.68 $ 0.80 (15.0%) Weighted average common shares outstanding – diluted ......... 229,721 231,907 (0.9%) (1) See page 23 of TEGNA’s Form 10-K for reconciliation of Adjusted EBITDA, a non-GAAP financial measure, to net income from continuing operations attributable to TEGNA. (2) Results for 2015 exclude special items benefits of $27 million after tax or $.12 per share. Results for 2014 exclude special items benefits of $404 million after tax or $1.75 per share. These special items are more fully discussed in the Management’s Discussion and Analysis of Financial Condition and Results of Operations and the Consolidated Financial Statement sections of this

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