LAMAR ADVERTISING CONEW

Our management headquarters is located in Baton Rouge, Louisiana. We also own 126 local operating facilities with front office administration and sales office space connected to back-shop poster and bulletin production space. In addition, the Company leases an additional 162 operating facilities at an aggregate lease expense for 2024 of approximately $10.2 million.

We own approximately 10,900 parcels of property beneath our outdoor advertising structures. As of December 31, 2024, we leased approximately 71,500 active outdoor sites, accounting for a total annual lease expense of approximately $334.5 million. This amount represented approximately 17% of billboard advertising net revenues for the year ended December 31, 2024. These leases are for varying terms ranging from month-to-month to a term of over ten years, and many provide the Company with renewal options. There is no significant concentration of displays under any one lease or subject to negotiation with any one landlord. An important part of our management activity is to manage our lease portfolio and negotiate suitable lease renewals and extensions.