Liberty Live Holdings, Inc. sold LYV

Footnotes

Each $1,000 original principal amount of New Debentures is exchangeable for the cash value of 9.5320 shares of Common Stock. The Reporting Person shall cash settle any exchange at the option of the holder or any purchase of the New Debentures pursuant to a holder's put right.; On March 20, 2026, the Reporting Person completed an exchange with certain holders of its 2.375% Exchangeable Senior Debentures due 2053 (the "Old Debentures"), pursuant to which the Reporting Person exchanged $1,116,315,000 aggregate principal amount of Old Debentures for an equivalent aggregate principal amount of new 2.375% Exchangeable Senior Debentures due 2053 (the "New Debentures").; Each New Debenture is exchangeable at the option of the holder during specified periods as set forth in Notes 9 and 10 below. Holders of the New Debentures may put their New Debentures to the Reporting Person on September 30, 2032, or prior thereto following the occurrence of a "fundamental change," and the New Debentures may be redeemed by the Reporting Person, (i) in whole or in part, on or after September 30, 2032 at any time, (ii) in whole, but not in part, prior to September 30, 2032, after the occurrence of certain conditions or events or (iii) in whole, but not in part at, any time after the Issuer declares or makes a dividend or distribution that, pursuant to the terms of the New Debentures, would reduce the adjusted principal amount of the New Debentures to $0.00 or such adjusted principal amount is otherwise reduced to $0.00.; Each New Debenture is exchangeable at the option of the holder, subject to certain terms and conditions, during specified periods: (i) if the market value of the underlying Common Stock exceeds 130% of the adjusted principal amount of the New Debenture; (ii) if the trading price of the New Debenture is less than 98% of the market value of the underlying Common Stock; (iii) after the occurrence of a "fundamental change" or a "make-whole fundamental change" with respect to a significant reference company prior to September 30, 2032; (iv) after the New Debenture is called for redemption; (v) the Reporting Person elects to transfer its obligations under the New Debentures and the indenture governing the New Debentures to a "qualified successor entity" that is a Non-Live QSE (as defined in the indenture) on or prior to September 30, 2032 (continued in Note 10 below); (continued from Note 9) and the Reporting Person does not provide an irrevocable, full and unconditional guarantee expiring no earlier than September 30, 2032 of such qualified successor entity's payment obligations thereunder; and (vi) the Issuer declares or makes a dividend or distribution that, pursuant to the terms of the New Debentures, would reduce the adjusted principal amount of the New Debentures to $0.00 or such adjusted principal amount is otherwise reduced to $0.00. The New Debentures are also exchangeable at any time during the period commencing on July 1, 2032 through the close of business on the second scheduled trading day immediately preceding September 30, 2032, and during the period commencing on July 1, 2053 through the close of business on the second scheduled trading day immediately preceding the maturity date of the New Debentures.; The New Debentures expire on September 30, 2053.