Live Nation Entertainment — Jul 30, 2026 release

get-in ticket price increases continuing to trail inflation over the past five years • AOI of $310 million was down 14% due to the timing of stadium shows, venue pre-opening costs, and new international festivals • Q2 ended with record event-related deferred revenue of $6.4 billion, up 25%, pointing to accelerating stadium and amphitheater activity in the second half • Full-year fan attendance is now projected to grow 10%, with expected attendance at operated venues up double digits and third-party venues up high single digits • For the full year, Concerts remains on track to deliver double-digit AOI growth, with the majority of the year-over-year improvement occurring in Q4, and continued margin expansion VENUE NATION DELIVERING MORE SHOWS AND ENHANCED HOSPITALITY FOR FANS GLOBALLY • Year-to-date, onsite food and beverage spending increased high single digits year-over-year at large U.S. amphitheaters and across European arenas and theaters • Investments in premium experiences are driving strong returns: at newly opened amphitheaters, Morton and Mystic Lake, enhanced offerings are driving premium revenue nearly 75% higher than comparable amphitheaters • Venue Nation on track to host close to 75 million fans in 2026, up double digits year-over-year, driven by an increase in show count from higher utilization of our existing venues and adding new venues • 2026 pre-opening costs for all venues under development expected to be approximately $50 million, with current projects on track to achieve 20%+ IRRs • Current pipeline of more than 25 large (over 3,000 seats) venues expected to open through the end of 2027, adding capacity for an incremental 15 million fans on a run rate basis 2 LIVE EVENTS CONTINUE TO