Paramount Skydance Corporation Announces Extension of Expiration Dates and Other Modifications of Previously Announced Exchange Offers and Tender Offers

LOS ANGELES and NEW YORK — September 28, 2026 — Paramount Skydance Corporation (NASDAQ: PSKY) (the “Company”) today announced that it has extended the expiration dates and implemented certain additional changes to the terms of its previously announced exchange offers and cash tender offers involving select outstanding debt securities (collectively, the “Offers”). These updates are intended to provide investors with additional time and clarity as the Company advances its ongoing capital structure initiatives.

Summary of Updates

• Extension of Expiration Dates for the Offers. The Offers will now remain open beyond the previously scheduled deadlines. The specific revised expiration dates and times for each Offer are set forth in the amended and supplemented offering materials described below.
• Adjustments to Related Deadlines. In connection with the extensions, certain corresponding deadlines and procedural timeframes have been updated as described in the applicable amendments and supplements.
• Other Modifications. The Company has made additional changes to select economic and procedural terms of the Offers. All such changes are described in detail in the applicable amended and supplemented documents for the Offers.
• Unchanged Terms. Except as expressly modified, all other terms, conditions, and proration procedures previously announced in connection with the Offers remain unchanged.

Offer Documentation and How to Participate

The Offers are being made only pursuant to, and are qualified in their entirety by, the terms and conditions set forth in the relevant offering documents, including the applicable prospectus or offer to purchase, the letter of transmittal (or agent’s message procedures, as applicable), and any related supplements and amendments (collectively, the “Offering Materials”). The updated terms described in this announcement are qualified by reference to the Offering Materials, which govern in all respects.

Eligible holders of the applicable securities should carefully review the Offering Materials in their entirety, including any newly issued amendments or supplements reflecting the extensions and modifications announced today, and should follow the instructions provided by their broker, dealer, custodian, or other intermediary to tender or deliver securities in the manner and by the deadlines specified therein.

Nothing in this announcement modifies any condition to the Offers, including any minimum tender, financing, or general conditions, except as expressly described in the applicable amended Offering Materials.

No Offer or Solicitation

This communication is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale, tender, or exchange of securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The Offers are being made only through the Offering Materials and only to such persons and in such jurisdictions as is permitted under applicable law.

Cautionary Note Regarding Forward-Looking Statements

This announcement contains forward-looking statements, including statements regarding the timing, terms, acceptance, and completion of the Offers and the Company’s capital structure objectives. Forward-looking statements are based on current expectations and assumptions that involve risks and uncertainties, many of which are beyond the Company’s control and could cause actual results to differ materially. Important factors include, among others, market conditions, investor participation in the Offers, the satisfaction of the conditions to the Offers, and other risks described in the Offering Materials and in the Company’s public filings. The Company undertakes no obligation to update any forward-looking statements, except as required by law.

About Paramount Skydance Corporation

Paramount Skydance Corporation (NASDAQ: PSKY) is a global media, entertainment, and technology company that produces, distributes, and monetizes premium content across film, television, digital, and interactive platforms. The Company’s portfolio spans leading brands and franchises, supported by a diversified set of creative studios and direct-to-consumer offerings.