Live Nation Entertainment — Feb 19, 2026 release

amphitheaters delivered strong performance with food and beverage spending double-digits higher than the rest of our amphitheaters ◦ Both Rogers Stadium and Estadio Vive Claro exceeded expectations for onsite spending ◦ Successfully reopened TD Coliseum following an extensive renovation, driving double-digit growth in premium revenue per show compared to pre-renovation levels • 2025 preopening costs for all venues under development were approximately $25 million • Venues opened in 2025 are on track to reach their projected run-rate annual AOI across concerts and sponsorship by 2028, delivering 20%+ IRRs VENUE NATION CONTINUES TO PROVIDE THE WORLD’S PREMIER ARTISTS WITH NEW PATHWAYS TO FANS • Venue Nation expected to host over 70 million fans in 2026, up high-single to low-double digits compared to last year • Large venues opening through new builds and acquisitions planned for 2026 expected to add five to seven million fans on a run-rate basis, with over half in international markets: ◦ Includes two U.S. amphitheaters and an additional stadium in Mexico ◦ Expanding our global arena portfolio through several acquisitions across Latin America and Europe, including La Défense in Paris • 2026 preopening costs for all venues under development are expected to be approximately $50 million • Venues opening in 2026 are projected to reach their run-rate annual AOI across concerts and sponsorship by 2029, delivering 20%+ IRRs 2 CONCERTS ACTIVITY LED TICKETMASTER GROWTH IN 2025 (vs FY24) • Revenue of $3.1 billion, up 3% • AOI of $1.1 billion, up 1% • Margin of 37%, continuing in the high 30s • Concerts outperformed all other categories: ◦ Fee-bearing tickets increased 2% to 346 million, driven by concerts up 4% offsetting a 2% decline in sports and other third-party act