DexYP® Announces Amended and Restated Credit Facility

DALLAS–(BUSINESS WIRE)–DexYP®, a Delaware corporation (“Dex”) and leading provider
of cloud-based business software for small business, today announced
that it entered into a senior secured credit facility (the “Facility”),
comprised of an $825,000,000 five-year senior secured term loan facility.

The proceeds of the Facility will be used to repay in full the
indebtedness outstanding under Dex Media Holding Inc.’s (“Holding”)
(also known as DexYP) existing senior secured credit facility, dated as
of July 29, 2016, among Holdings, as borrower, the lenders from time to
time party thereto and Wilmington Trust, National Association, as
administrative agent, and pay associated fees and expenses, and for
general corporate purposes, including, but not limited to, financing
share buybacks (whether via tender offer or open market repurchase
programs), dividends and/or acquisitions. The Facility was borrowed by
Dex, is guaranteed by Holdings and certain of Dex’s future subsidiaries
and is secured by substantially all tangible and intangible assets of
Dex and certain of Dex’s subsidiaries.

“We are pleased to announce that we have secured this new $825 million
term loan,” said Joe Walsh, CEO and president of DexYP. “This new, lower
cost funding demonstrates that key lenders continue to have confidence
in our ability to deliver strong financial result; and it provides us
the flexibility to pursue strategic alternatives.”

About DexYP

builds and owns Thryv®,
the simple, easy-to-use software that helps small business owners with
the daily demands of running a business; and allows them to take control
and be more successful. Thryv provides modernized business functions
allowing them to manage their time, communicate with clients, and get
paid. These include building a digital customer list, communicating with
customers via email and text, updating business listings across the
internet, accepting appointments, sending notifications and reminders,
managing ratings and reviews, generating estimates and invoices,
processing payments, and issuing invoices and coupons.

delivers business services to more than 500,000 small businesses across
America that enable them to compete and win in today’s economy.

also provides consumer services through our market-leading search,
display and social products—and connects local businesses to the over 50
million monthly visitors of®,® and search portals; and local print directories The Real
Yellow Pages®. For more information about the company, visit

Forward-looking Statements

Some statements included in this release constitute forward-looking
statements. Statements that include the words “may”, “will”, “could”,
“should”, “would”, “believe”, “anticipate”, “forecast”, “estimate”,
“expect”, “preliminary”, “intend”, “plan”, “project”, “outlook” and
similar statements of a future or forward-looking nature identify
forward-looking statements. You should not place undue reliance on these
statements, as they are not guarantees of future performance.
Forward-looking statements provide current expectations with respect to
our financial performance and future events with respect to our business
and industry in general. Forward-looking statements are based on certain
assumptions and include any statement that does not directly relate to
any historical or current fact. Accordingly, there are or will be
important factors that could cause our actual results to differ
materially from those indicated in these statements. We believe that
these factors include, but are not limited to, the risks related to the
following: the Company’s ability to maintain adequate liquidity to fund
operations; the Company’s future operating and financial performance;
limitations on our operating and strategic flexibility and the ability
to operate our business, finance our capital needs or expand business
strategies under the terms of our credit facilities; our ability to
retain existing business and obtain and retain new business; general
economic or business conditions affecting the markets we serve;
declining use of print yellow page directories by consumers; our ability
to collect trade receivables from clients to whom we extend credit;
credit risk associated with our reliance on small and medium sized
businesses as clients; our ability to attract and retain key managers;
increased competition in our markets; our ability to obtain future
financing due to changes in the lending markets or our financial
position; our ability to maintain agreements with major Internet search
and local media companies; reduced advertising spending and increased
contract cancellations by our clients, which causes reduced revenue;
and, our ability to anticipate or respond effectively to changes in
technology and consumer preferences; and our ability to successfully
integrate the YP business with the Company’s business. With respect to
the acquisition, important factors could cause actual results to differ
materially from those indicated by forward-looking statements and
projections included herein, including, but not limited to: the risk
that anticipated cost savings, growth opportunities and other financial
and operating benefits as a result of the transaction may not be
realized or may take longer to realize than expected, the risk that
benefits from the transaction may be significantly offset by costs
incurred in integrating the companies, including, coordinating
geographically separate organizations, integrating business cultures,
which could prove to be incompatible, difficulties and costs of
integrating information technology systems; and the potential difficulty
in retaining key officers and personnel. All subsequent written and oral
forward-looking statements attributable to us or persons acting on our
behalf are expressly qualified in their entirety by such cautionary

If one or more events related to these or other risks or uncertainties
materialize, or if our underlying assumptions prove to be incorrect,
actual results may differ materially from what we anticipate. All
forward-looking statements included in this press release are expressly
qualified in their entirety by the foregoing cautionary statements.
These forward-looking statements speak only as of the date hereof and,
other than as required by law, we undertake no obligation to publicly
update or revise any forward-looking statements, whether as a result of
new information, future events or otherwise.


Investor Contact:
Nicholas Haughey

Media Contact:
Paige Blankenship