| Disclaimers
This presentation includes certain forward
-
looking statements within the meaning of the Private Securities Litigation Reform Act
of 1995
regarding Liberty Media Corporation (“Liberty Media”), including statements about the proposed reclassification of Liberty Me
dia
’s existing
common stock (the “Reclassification”) and the split
-
off of the Atlanta Braves and associated real estate development project (su
ch
transaction the “Split
-
Off” and such split
-
off entity, “Atlanta Braves Holdings”), business strategies, liquidity sources, capit
al allocation, stock
repurchases, future financial performance and prospects, the impact of COVID
-
19, new product and service offerings, the Atlanta
Braves
mixed
-
used facility, market potential, growth and expansion opportunities, matters relating to Formula 1 (including contracted r
evenue,
sustainability strategy, race calendar, the Las Vegas Grand Prix, tax considerations, free cash flow (including potential use
s o
f excess free
cash flow and estimated adjusted OIBDA to free cash flow conversion)), environmental, social and governance initiatives and o
the
r matters
that are not historical facts. These forward
-
looking statements involve many risks and uncertainties that could cause actual res
ults to differ
materially from those expressed or implied by such statements, including, without limitation, the satisfaction of conditions
to
the proposed
Reclassification and Split
-
Off, the ability of Liberty Media to realize the expected benefits of these transactions, changes in
market
acceptance of new products or services, competitive issues, regulatory matters, the impact of COVID
-
19 (including on general mar
ket
conditions and the ability of Formula 1, the Braves and Live Nation to hold live events and fan attendance at such events), c
han
ges in law,
continued access to capital on acceptable terms and market conditions conducive to stock repurchases. These forward
-
looking stat
ements
speak only as of the date of this presentation, and Liberty Media expressly disclaims any obligation or undertaking to dissem
ina
te any
updates or revisions to any forward
-
looking statement contained herein to reflect any change in Liberty Media’s expectations wit
h regard
thereto or any change in events, conditions or circumstances on which any such statement is based, as applicable. Please refe
r t
o the
publicly filed documents of Liberty Media, including the most recent Forms 10
-
Q and 10
-
K, for additional information about Liber
ty Media and
about the risks and uncertainties related to its businesses which may affect the statements made in this presentation.
FORWARD
-
LOOKING STATEMENTS
1
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