Live Nation Entertainment — Aug 7, 2025 release

We expect to bring additional venues online in 2H, with key projects underway in Mexico, Colombia, and Canada • Our venue development pipeline continues to grow, expecting ten new large venues to open next year – each with fan capacity of 3,000 and above – across the U.S. and international markets • Collectively, these venues create incremental capacity for six million fans on a run-rate basis • Venue capital investments for new builds and refurbishments continue to deliver 20%+ returns ◦ New amphitheaters are delivering strong results, with food and beverage sales tracking double-digits higher compared to our historical portfolio, while also selling out premium seating ◦ Based on our current assessment, tariffs are expected to have minimal impact on venue investment costs, festival supply chain, and other costs 2 CONCERTS AND INTERNATIONAL ACTIVITY DRIVES TICKETMASTER RESULTS (VS 2Q24) • Revenue of $743 million, up 2% • AOI of $290 million, consistent with last year • Record Q2 total reported GTV of $9 billion, up 7% • Secondary GTV down mid-single digits due to increased market-based pricing in concerts and sports along with several lower-performing sporting events • Over 83 million fee-bearing tickets sold, up 4% ◦ International ticket volume up double-digits ◦ Concerts ticket volume up high-single digits while sports and other content continued to trail 2024 levels TICKETMASTER POSITIONED FOR GROWTH IN SECOND HALF OF 2025 (through July vs same period last year) • Q2 record deferred revenue of $317 million, up 22%, driven by Live Nation concerts activity • 17 million net new enterprise tickets signed, up 10%, with approximately 70% of the growth from i