Parent of Link Media Outdoor Boston Omaha is repurchasing Class A Common Stock

OMAHA, Neb.–Board of Directors of Boston Omaha Corporation (NYSE: BOC) approved a share repurchase program under which the Company can repurchase up to $20,000,000 of its Class A common stock through September 30, 2025 through open market purchases, privately-negotiated transactions, or otherwise in compliance with Rule 10b-18 under the Securities Exchange Act of 1934. The share repurchase program will go into effect on or about August 15, 2024, following the release of the Company’s quarterly report on Form 10-Q for the quarter ended June 30, 2024.

“We believe our Class A common stock to be an attractive investment when, as we believe is currently the case, it trades at a meaningful discount to our view of the Company’s intrinsic value and prospects. With the adoption of a repurchase program, we add to our capital allocation options the ability to opportunistically repurchase shares alongside our ability to continue investing in our businesses. We will continue to allocate capital to what we believe is its best and highest use in order to grow long-term value on a per share basis,” said Adam Peterson, Chairman and Chief Executive Officer.

The Board also authorized the Company, in its discretion, to establish “Rule 10b5-1 trading plans” for these share repurchases. Rule 10b5-1 trading plans allow companies to repurchase shares at times when they might otherwise be prevented from doing so by securities laws or because of self-imposed trading blackout periods.

The actual timing, number and value of shares repurchased under the stock repurchase program will depend on a number of factors, including constraints specified in applicable SEC regulations, price, general business and market conditions, and alternative investment opportunities. The share buyback program does not obligate the Company to acquire any specific number of shares in any period, and may be expanded, extended, modified or discontinued at any time.

About Boston Omaha Corporation

Boston Omaha Corporation is a public holding company with four majority owned businesses engaged in outdoor advertising, broadband telecommunications services, surety insurance and asset management. For more information, please visit www.bostonomaha.com.