Liberty Live Holdings, Inc.

Liberty Live Holdings, Inc. (Liberty Live) operates as a separate, publicly traded company following a split-off from Liberty Media Corporation on December 15, 2025. Immediately prior to the split-off, Liberty Media's subsidiary Quint, interests in certain private assets, and $171.7 million of cash were reattributed from Liberty Media's Formula One Group to its Liberty Live Group in exchange for interests in certain other private assets. Liberty Live beneficially owns approximately 69.6 million shares of Live Nation common stock, Quint, interests in certain private assets, corporate cash, and debt obligations attributed to the Liberty Live Group. The split-off involved Liberty Media redeeming each outstanding share of its Series A, Series B, and Series C Liberty Live common stock for one share of the corresponding series of Liberty Live Group common stock of Liberty Live. Following the split-off, neither Liberty Media nor Liberty Live has any continuing stock ownership in the other. To govern ongoing relationships and ensure an orderly transition, Liberty Media and Liberty Live entered into agreements including a services agreement, an aircraft time sharing agreement, a facilities sharing agreement, a reorganization agreement, and a tax sharing agreement. The reorganization agreement outlines the principal corporate transactions, including internal restructuring, required for the split-off, its conditions, and provisions governing the relationship between the two companies post-split-off.