Tranche Update on Emmis Corporation's Equity Buyback Plan announced on July 11, 2022.

Emmis Corporation (Emmis), formerly Emmis Communications Corporation, is an entrepreneurial company. The Company is an owner and operator of media, sports, entertainment, and other diversified operations. The Company owns and operates Lencore Acoustics, a sound masking technology for professional environments and operates one amplitude modulation (AM) radio station in New York, and an additional frequency modulation (FM) station in New York operated by Entertainment and Sports Programming Network (ESPN). Emmis also owns a controlling interest in Digonex, which provides dynamic pricing solutions to national brands across multiple industries. It also has an investment in Anzu, an intrinsic in-game advertising solution for personal computer (PC), console, mobile, and cloud-based video games.