<span item_type="fundamental" item_id="6d6c4a3573192fd5e75e339fd70c290d" counter_id="ST/US/LLYVA" env="prod"></span><span item_type="announcement" item_id="645848213241135617" env="prod"></span><p>Revenue: As of FY2026 Q1, the actual value is USD 711 M.</p><p>EBIT: As of FY2026 Q1, the actual value is USD 126 M.</p><p></p><h3>Consolidated Financial Performance</h3><p>Liberty Live Group reported consolidated revenue of $711 million for the first quarter of 2026, an increase from $447 million in the prior year period. Consolidated operating income was $64 million, a significant improvement from an operating loss of -$67 million in the first quarter of 2025. Consolidated Adjusted OIBDA increased to $181 million in the first quarter of 2026, up from $73 million in the first quarter of 2025. Corporate and other operating loss was -$19 million in the first quarter of 2026, compared to -$39 million in the first quarter of 2025. Corporate and other Adjusted OIBDA was -$7 million in Q1 2026, compared to -$12 million in Q1 2025. Net earnings from continuing operations were $53 million for the first quarter of 2026, compared to $17 million in the first quarter of 2025. Net earnings attributable to Liberty stockholders were $57 million in Q1 2026, up from $5 million in Q1 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1560385/000156038526000015/lmca-20260507xex99d1.htm"></span></p><h4>Consolidated Operating Costs</h4><p>Total operating costs and expenses were $647 million in the first quarter of 2026, an increase from $514 million in the first quarter of 2025. Cost of motorsport revenue (exclusive of depreciation) was $413 million in Q1 2026, up from $286 million in Q1 2025. Selling, general and administrative expenses were $122 million in Q1 2026, compared to $101 million in Q1 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1560385/000156038526000015/lmca-20260507xex99d1.htm"></span></p><h3>Formula 1 Segment</h3><h4>Revenue</h4><p>Formula 1 revenue increased by 53% to $617 million in the first quarter of 2026, compared to $403 million in the first quarter of 2025. Primary Formula 1 revenue grew by 55% to $496 million, and Other Formula 1 revenue increased by 44% to $121 million.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1560385/000156038526000015/lmca-20260507xex99d1.htm"></span></p><h4>Operational Metrics</h4><p>Operating income for Formula 1 was $107 million in the first quarter of 2026, improving from an operating loss of -$28 million in the first quarter of 2025. Adjusted OIBDA for Formula 1 increased by 102% to $172 million, up from $85 million in the prior year period. There were 3 races held in Q1 2026, compared to 2 races in Q1 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1560385/000156038526000015/lmca-20260507xex99d1.htm"></span></p><h4>Operating Expenses</h4><p>Team payments, excluding Concorde incentive payments, increased by 61% to -$184 million in Q1 2026 from -$114 million in Q1 2025. Other cost of motorsport revenue increased by 38% to -$176 million from -$128 million. Selling, general and administrative expenses increased by 12% to -$85 million from -$76 million.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1560385/000156038526000015/lmca-20260507xex99d1.htm"></span></p><h3>MotoGP Segment</h3><h4>Revenue</h4><p>MotoGP revenue increased by 25% to $94 million in the first quarter of 2026 (on a pro-forma basis), compared to $75 million in the first quarter of 2025 (pro forma). Primary MotoGP revenue increased by 30% to $83 million from $64 million (pro forma).<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1560385/000156038526000015/lmca-20260507xex99d1.htm"></span></p><h4>Operational Metrics</h4><p>MotoGP reported an operating loss of -$24 million in the first quarter of 2026, which was flat compared to the -$24 million operating loss in the first quarter of 2025 (pro forma). Adjusted OIBDA for MotoGP increased by 60% to $16 million in Q1 2026, up from $10 million in Q1 2025 (pro forma). There were 3 races held in Q1 2026, the same as in Q1 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1560385/000156038526000015/lmca-20260507xex99d1.htm"></span></p><h4>Operating Expenses</h4><p>Cost of motorsport revenue increased by 18% to -$59 million in Q1 2026 from -$50 million in Q1 2025 (pro forma). Selling, general and administrative expenses increased by 27% to -$19 million from -$15 million (pro forma).<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1560385/000156038526000015/lmca-20260507xex99d1.htm"></span></p><h3>Cash Flow and Debt</h3><h4>Cash Flow</h4><p>Net cash provided by operating activities was $357 million in the first quarter of 2026, compared to $391 million in the first quarter of 2025. Net cash used by investing activities was -$25 million in Q1 2026, an improvement from -$180 million in Q1 2025. Net cash used by financing activities was -$52 million in Q1 2026, compared to -$13 million in Q1 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1560385/000156038526000015/lmca-20260507xex99d1.htm"></span></p><h4>Cash and Cash Equivalents</h4><p>Total consolidated cash and cash equivalents were $1,332 million as of March 31, 2026, an increase from $1,055 million as of December 31, 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1560385/000156038526000015/lmca-20260507xex99d1.htm"></span></p><h4>Debt and Leverage</h4><p>Total debt was $4,989 million as of March 31, 2026, a slight decrease from $5,022 million as of December 31, 2025, including Formula 1 senior loan facilities of $3,340 million and MotoGP credit facilities of $1,151 million. As of March 31, 2026, Formula 1 leverage was 2.3x (down from 2.8x), MotoGP leverage was 4.7x (flat), and consolidated leverage was 3.0x (down from 3.6x).<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1560385/000156038526000015/lmca-20260507xex99d1.htm"></span></p><h3>Outlook / Guidance</h3><p>Liberty Live Group aims to continue evolving Formula 1, strengthening fan connections, and collaborating with the FIA and teams to enhance the racing product. The company identifies significant opportunities to expand MotoGP’s commercial reach and is committed to disciplined execution and brand investment. The 2026 Formula 1 calendar is projected to have 22 races, which is 2 fewer than in 2025, and this will affect quarterly revenue and cost comparisons.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1560385/000156038526000015/lmca-20260507xex99d1.htm"></span></p>

Liberty Live | 8-K: FY2026 Q1 Revenue: USD 711 M