Liberty Media Corporation reported strong performance in Q3 2025, highlighted by strategic acquisitions and operational growth across its sports assets, particularly Formula One and MotoGP, despite challenges such as one fewer race in F1.

• Expected completion of the Liberty Live split-off on December 15, enhancing visibility for its Live Nation stake.
• Formula One secured a multi-year renewal with Heineken, and signed a landmark U.S. distribution partnership with Apple, bolstering its commercial strategy.
• Increased investment in MotoGP aimed at enhancing fan engagement and expanding commercial opportunities, despite current elevated costs reflected in year-to-date adjusted OIBDA.
• Successful refinancing initiatives across both F1 and MotoGP are set to reduce interest expenses and extend debt maturities, supporting future financial flexibility.
• F1 net leverage improved to 3.0x from 3.3x following the MotoGP acquisition, positioning the company favorably for debt reduction in the near term.