Quad/Graphics Awarded 20-Title Contract From Hearst Magazines Valued at More Than $500 Million

Quad/Graphics, Inc.

("Quad/Graphics" or the "Company") will continue to be the primary printer for Hearst Magazines' through 2020 under a new agreement valued at more than $500 million. Quad produces 20 of Hearst's 21 U.S. magazine titles, including Cosmopolitan, ELLE, Esquire, Good Housekeeping, O, The Oprah Magazine, Popular Mechanics and Car and Driver, as well as inserts and custom print products. Quad/Graphics has been Hearst Magazines' largest print supplier since 2011, when it began printing Good Housekeeping, Harper's BAZAAR, House Beautiful, O, The Oprah Magazine, Woman's Day, ELLE, ELLE DECOR, Car and Driver and Road & Track in addition to Veranda, which the Company has printed since 2007. With the acquisition of Brown Printing Company in 2014, Quad/Graphics began printing 10 additional Hearst titles – Country Living, Cosmopolitan, Esquire, Food Network Magazine, HGTV Magazine, Marie Claire, Redbook, Seventeen, Town & Country and Popular Mechanics. "With its exceptional portfolio of magazine titles, Hearst has mastered the art of content creation, demonstrating the power of print in a multichannel world and reaching more than 80 million readers every month," said Joel Quadracci, Chairman, President & CEO of Quad/Graphics. "As America's leading magazine printer, we are proud to renew and extend our partnership with Hearst, and to work together to grow through innovation and performance." "Magazines have the power to inspire and transport readers through beautiful images, expert curation and unique points-of-view," said David Carey, President of Hearst Magazines. "Working with Quad/Graphics, we are able to constantly push the boundaries of what magazines can be, to create memorable, impactful experiences for readers and marketers with every issue." Hearst takes advantage of Quad/Graphics' full-service continuum of media, mailing and related distribution solutions to deliver high-quality content in the most effective and efficient manner possible. Hearst also uses Quad/Graphics' comprehensive publication workflow solutions, including the new Publisher's Studio Editorial™, to plan and develop content for print and digital editions. Through its robust co-mail and distribution programs, Quad/Graphics creates significant postage savings each year for Hearst while also improving delivery times and preserving product condition. "Magazine content is incredibly valuable in a multichannel world, and through our partnership with Hearst, we have the great opportunity to explore the limitless possibilities of ink on paper and related content delivery," Quadracci said.