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ViacomCBS Announces Redemption of Approximately $2.0 Billion of Senior Notes

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ViacomCBS Inc. ("ViacomCBS") (NASDAQ:VIAC, VIACA)) today announced that it would redeem all of its outstanding (i) 2.250% senior notes due February 4, 2022 (the "2.250% senior notes"), (ii) 3.375% senior notes due March 1, 2022 (the "3.375% senior notes"), (iii) 3.125% senior notes due June 15, 2022 (the "3.125% senior notes"), (iv) 2.500% senior notes due February 15, 2023 (the "2.500% senior notes"), (v) 3.250% senior notes due March 15, 2023 (the "3.250% senior notes"), (vi) 2.900% senior notes due June 1, 2023 (the "2.900% senior notes") and (vii) 4.250% senior notes due September 1, 2023 (the "4.250% senior notes"). The redemption date for the 2.250% senior notes, the 3.375% senior notes, the 2.500% senior notes and the 2.900% senior notes is March 15, 2021. The redemption date for the 3.125% senior notes, the 3.250% senior notes and the 4.250% senior notes is March 29, 2021.

The redemption price for each such series of notes is equal to the sum of 100% of the principal amount of such series of notes outstanding, the make-whole amount calculated in accordance with the terms of such series of notes and the related indenture under which such series of notes was issued, and the accrued and unpaid interest on such series of notes up to, but excluding, the respective redemption date. The aggregate principal amount of each such series of notes outstanding on February 26, 2021 is as set forth below:

Title of Security

Aggregate Principal Amount Outstanding

2.250% senior notes

$35,218,000

3.375% senior notes

$415,931,000

3.125% senior notes

$117,618,000

2.500% senior notes

$196,566,000

3.250% senior notes

$141,408,000

2.900% senior notes

$243,328,000

4.250% senior notes

$840,734,000

Holders owning notes through a broker, bank, or other nominee should contact that party for information. For more information, holders of the 2.250% senior notes, the 3.125% senior notes, the 3.250% senior notes and the 4.250% senior notes may call the paying agent for the redemption of such series of notes, The Bank of New York Mellon at (800) 254-2826, and holders of the 3.375% senior notes, the 2.500% senior notes and the 2.900% senior notes may call the paying agent for the redemption of such series of notes, Deutsche Bank Trust Company Americas at (800) 735-7777.

About ViacomCBS

ViacomCBS is a leading global media and entertainment company that creates premium content and experiences for audiences worldwide. Driven by iconic consumer brands, its portfolio includes CBS, Showtime Networks, Paramount Pictures, Nickelodeon, MTV, Comedy Central, BET, CBS All Access, Pluto TV and Simon & Schuster, among others. The company delivers the largest share of the U.S. television audience and boasts one of the industry's most important and extensive libraries of TV and film titles. In addition to offering innovative streaming services and digital video products, ViacomCBS provides powerful capabilities in production, distribution and advertising solutions for partners on five continents.

Cautionary Note Concerning Forward-Looking Statements

This communication contains both historical and forward-looking statements. All statements that are not statements of historical fact are, or may be deemed to be, forward-looking statements within the Private Securities Litigation Reform Act of 1995. Similarly, statements that describe our objectives, plans or goals are or may be forward-looking statements. These forward-looking statements reflect our current expectations concerning future results and events; generally can be identified by the use of statements that include phrases such as "believe," "expect," "anticipate," "intend," "plan," "foresee," "likely," "will," "may," "could," "estimate" or other similar words or phrases; and involve known and unknown risks, uncertainties and other factors that are difficult to predict and which may cause our actual results, performance or achievements to be different from any future results, performance or achievements expressed or implied by these statements. These risks, uncertainties and other factors include, among others: changes in consumer behavior, as well as evolving technologies, distribution platforms and packaging; the impact on our advertising revenues of changes in consumers' content viewership, deficiencies in audience measurement and advertising market conditions; our ability to maintain attractive brands and our reputation, and to offer popular programming and other content; increased costs for programming, films and other rights; competition for content, audiences, advertising and distribution; the potential for loss of carriage or other reduction in or the impact of negotiations for the distribution of our content; losses due to asset impairment charges for goodwill, intangible assets, FCC licenses and programming; the risks and costs associated with the integration of the CBS Corporation and Viacom Inc. businesses and investments in new businesses, products, services and technologies, including our streaming initiatives; evolving business continuity, cybersecurity, privacy and data protection and similar risks; content infringement; the impact of COVID-19 (and other widespread health emergencies or pandemics) and measures taken in response thereto; domestic and global political, economic and/or regulatory factors affecting our businesses generally; liabilities related to discontinued operations and former businesses; the loss of key talent and strikes and other union activity; potential conflicts of interest arising from our ownership structure with a controlling stockholder; and other factors described in our news releases and filings with the Securities and Exchange Commission, including but not limited to our most recent Annual Report on Form 10-K and reports on Form 10-Q and Form 8-K. There may be additional risks, uncertainties and factors that we do not currently view as material or that are not necessarily known. The forward-looking statements included in this communication are made only as of the date of this communication, and we do not undertake any obligation to publicly update any forward-looking statements to reflect subsequent events or circumstances.

VIAC-IR

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