Sinclair Broadcast Group, Inc. (Nasdaq: SBGI) announced that its wholly-owned subsidiary, Sinclair Television Group, Inc. has notified the trustee for its 5.625% Senior Notes due 2024 (CUSIP No. 829259AR1) that it intends to redeem, in full, STG's outstanding $550 million aggregate principal amount of Notes on December 4, 2020 (the "Redemption Date"). The redemption of the Notes is conditioned upon STG's incurrence of new debt financing generating gross proceeds of at least $550 million.

The redemption will be effected in accordance with the terms of the indenture governing the Notes. The redemption price will be equal to the sum of 101.875% of the principal amount of the Notes outstanding together with accrued and unpaid interest on the principal amount being redeemed up to, but not including, the Redemption Date. The redemption of the Notes, including the payment of accrued and unpaid interest and related fees and expenses, will be funded from the net proceeds of the Financing and cash on hand.

This press release shall not constitute a notice of redemption of the Notes. A notice of redemption may only be made by a notice of redemption provided by STG or the Trustee to the holders of the Notes in accordance with the indenture governing the Notes. This press release is neither an offer to purchase nor a solicitation of an offer to sell the Notes or any other securities, and this press release shall not constitute an offer to sell nor a solicitation of an offer to buy any securities.

About Sinclair Broadcast Group, Inc.

Sinclair is a diversified media company and leading provider of local sports and news. The Company owns and/or operates 23 regional sports network brands; owns, operates and/or provides services to 190 television stations in 88 markets; is a leading local news provider in the country; owns multiple national networks; and has TV stations affiliated with all the major broadcast networks. Sinclair's content is delivered via multiple platforms, including over-the-air, multi-channel video program distributors, and digital platforms. The Company regularly uses its website as a key source of Company information which can be accessed at www.sbgi.net.