Salem Media Group, Inc. (OTCQX: SALM) announced today that the company and certain of its subsidiaries entered into a Third Amendment to Loan and Security Agreement, dated as of July 28, 2025 (the “Amendment”) with Siena Lending Group LLC. The Amendment amends the Loan and Security Agreement, dated as of December 26, 2023 (as amended, supplemented or otherwise modified, including pursuant to the Amendment, the “Loan Agreement”), by and among Salem Media Group, Inc. and certain of its subsidiaries as borrowers and Siena Lending Group LLC as the lender.

The Amendment, among other things, adds additional real property owned by Salem Radio Properties, Inc. to the collateral under the Loan Agreement, which increases the borrowing base and therefore the amount that the company may borrow under the Loan Agreement.

About Salem Media Group

Salem Media Group is America’s premier multimedia company specializing in Christian and conservative content. Through its national radio network, digital platforms, and publishing brands, Salem reaches millions daily with powerful content that drives the national conversation. Learn more at salemmedia.com.

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Salem Media Group Enters into a Third Amendment to Loan and Security Agreement, dated as of July 28, 2025