No material exposure to Silicon Valley Bank

13 March 2023

Future plc

No material exposure to Silicon Valley Bank

Future plc (LSE: FUTR, "Future", "the Group"), the global platform for specialist media, confirms that its exposure to Silicon Valley Bank ("SVB") is immaterial to the Group's liquidity position.

As at 10 March 2023, cash deposits with SVB accounted for less than 3% of the Group's cash on hand, equivalent to less than £1 million. SVB also provided £50 million of the Group's £900 million total debt facilities. Of this £50 million, approximately 48% is currently drawn.

The Group, backed by a strong banking syndicate, has access to significant levels of liquidity. As at 10 March 2023, the Group had access to £26 million cash on hand and £438 million of undrawn committed facilities excluding SVB's undrawn hold.

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About Future

Future is a global platform business for specialist media with diversified revenue streams. Its content reaches 1 in 3 adults online in the UK and US.

The Media division is high-growth with complementary revenue streams including eCommerce for products and services, events, and digital advertising (including advertising within newsletters and video). It operates in a number of sectors including technology, games & entertainment, music, home & gardens, sports, TV & film, real life, knowledge, wealth & savings, women's lifestyle and B2B. Its brands include TechRadar, PC Gamer, Tom's Guide, Android Central, Truly, The Week, Kiplinger, GoCompare, Digital Camera World, Homebuilding & Renovating Show, GamesRadar+, The Photography Show, Top Ten Reviews, Marie Claire, Live Science, Guitar World, MusicRadar, Space.com, Who What Wear, What to Watch, Gardening Etc, Adventure and Tom's Hardware.

The Magazine division focuses on publishing specialist content, with a combined global circulation of over 4.5 million delivered through more than 106 magazines, and 743 bookazines published a year. The portfolio spans technology, knowledge, games & entertainment, sports, music, photography & design, homes & garden, country lifestyle, TV & film and B2B. Its titles include Country Life, Wallpaper*, Woman & Home, The Week, Classic Rock, Decanter, Guitar Player, FourFourTwo, Homebuilding & Renovating, Digital Camera, Guitarist, How It Works, Total Film, What Hi-Fi? and Music Week.