Important notice regarding the availability of Proxy materials for
the Annual Meeting of Shareholders to be held on May 4, 2017.
The Proxy Statement and the Annual Report to Shareholders
available on www.ghco.com.
q PLEASE FOLD ALONG THE PERFORATION DETACH AND RETURN THE BOTTOM PORTION IN THE ENCLOSED ENVELOPE. q
Proxy Graham Holdings Company
Graham Holdings Company
Class B Common
Annual Meeting of Shareholders May 4, 2017
Proxy Solicited on behalf of the Board of Directors
The undersigned hereby
appoints Timothy J. OShaughnessy, Wallace R. Cooney, Jacob M. Maas, and Nicole M. Maddrey, and each of them, his/her true and lawful agents and proxies, with full power of substitution in each, to vote as indicated on the reverse of the Proxy
all shares of Class B Common Stock that the undersigned is entitled to vote at the Annual Meeting of Shareholders of GRAHAM HOLDINGS COMPANY to be held on May 4, 2017, and at any adjournment thereof, and to vote on all other matters properly
coming before said meeting.
You are encouraged to specify your choices by marking the appropriate boxes. SEE REVERSE SIDE, but you need not mark any boxes if you
wish to vote this card in accordance with the Board of Directors recommendations. The Proxy Committee cannot vote your shares unless you date, sign and return this card.
Please vote, date and sign this proxy on the other side and return it promptly in the enclosed envelope.
(Continued and to be voted on reverse side.)
TO CHANGE YOUR VOTE
Any subsequent vote by any means will change your prior vote. For example, if you voted by telephone, a subsequent Internet vote will change your vote. The last vote
received before 5:00 p.m., Eastern Daylight Saving Time, on May 3, 2017, will be the one counted. You may also revoke your proxy by voting in person at the Annual Meeting.