Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-41746 ATLANTA BRAVES HOLDINGS, INC. (Exact name of Registrant as specified in its charter) Nevada 92-1284827 (State or o ...

Historically, Warren Buffett has focused on high-performance, well-established American banking, insurance and staples stocks. Often buying names that pay investors significant dividends. In recent years, however, he has become more diversified, buying shares of some tech stocks and a number of developing-market plays. As an investor who believes that buying growth stocks, overseas equities and turnaround plays can be much more profitable than focusing on U.S. value plays and staple producers, I certainly e ...

The Liberty Braves Group (NASDAQ:BATRA) Q4 2023 Earnings Conference Call February 28, 2024 10:00 AM ET Company Participants Shane Kleinstein - Senior Vice President, Investor Relations Gregory Maffei - President and Chief Executive Officer Stefano Domenicali - President and Chief Executive Officer of Formula One Brian Wendling - Chief Accounting and Principal Financial Officer Renee Wilm - Chief Legal and Admin Officer, Liberty Broadband Derek Schiller - President and CEO of the Atlanta Braves Conference Ca ...

Exhibit 99.1 ATLANTA BRAVES HOLDINGS REPORTS FOURTH QUARTER AND YEAR END 2023 FINANCIAL RESULTS Englewood, Colorado, February 28, 2024 – Atlanta Braves Holdings, Inc. ("ABH") (Nasdaq: BATRA, BATRK) today reported fourth quarter and year end 2023 results. Headlines include (1): ● Total revenue grew 9% to $641 million in 2023 o Baseball revenue up 9% to $582 million o Mixed-use development revenue up 10% to $59 million ● Mixed-use development generated $39 million of Adjusted OIBDA(2) in 2023 ● Extended Alex ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-41746 ATLANTA BRAVES HOLDINGS, INC. (Exact name of Registrant as specified in its charter) Nevada (State or other jurisdictio ...

Part I [Part I – Financial Information](index=3&type=section&id=Part%20I%20%E2%80%93%20Financial%20Information) This section provides the company's financial information, including statements, notes, and management's discussion and analysis [Item 1. Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) This section presents the unaudited condensed consolidated financial statements for the nine months ended September 30, 2023, including balance sheets, statements of operations, comprehensive earnings, cash flows, and equity, along with detailed notes [Condensed Consolidated Financial Statements](index=3&type=section&id=Condensed%20Consolidated%20Financial%20Statements) The financial statements show total assets of **$1.52 billion** as of September 30, 2023, with total revenue of **$572.9 million** and a net loss of **$92.9 million** for the nine months ended September 30, 2023 Condensed Consolidated Balance Sheet Highlights (in millions) | Account | Sep 30, 2023 | Dec 31, 2022 | | :--- | :--- | :--- | | Cash and cash equivalents | $106.7 | $150.7 | | Total current assets | $243.8 | $267.4 | | Total assets | $1,518.8 | $1,490.7 | | Total current liabilities | $189.3 | $240.9 | | Long-term debt | $547.5 | $467.2 | | Total liabilities | $943.2 | $1,191.2 | | Total equity | $575.7 | $299.5 | Condensed Consolidated Statements of Operations (Nine Months Ended Sep 30, in millions) | Metric | 2023 | 2022 | | :--- | :--- | :--- | | Total Revenue | $572.9 | $517.3 | | Operating Loss | $(14.1) | $(23.4) | | Net (Loss) Earnings | $(92.9) | $10.8 | | Diluted EPS | $(1.51) | $0.17 | Condensed Consolidated Statements of Cash Flows (Nine Months Ended Sep 30, in millions) | Cash Flow Activity | 2023 | 2022 | | :--- | :--- | :--- | | Net cash (used in) provided by operating activities | $(21.3) | $19.4 | | Net cash (used in) provided by investing activities | $(45.3) | $29.4 | | Net cash provided by (used in) financing activities | $20.4 | $(119.6) | | Net decrease in cash | $(46.3) | $(70.8) | [Notes to Condensed Consolidated Financial Statements](index=12&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) The notes provide crucial context, detailing the basis of presentation following the July 18, 2023 Split-Off from Liberty Media, segment information, debt structure, and material contingencies - The company completed its Split-Off from Liberty Media on July 18, 2023, becoming a separate publicly traded entity, with financial statements prepared on a consolidated basis reflecting this change[32](index=32&type=chunk) Segment Revenue (Nine Months Ended Sep 30, 2023, in millions) | Segment | Revenue | | :--- | :--- | | Baseball | $528.8 | | Mixed-Use Development | $44.2 | | **Total Revenue** | **$572.9** | - Total debt as of September 30, 2023, was **$555.3 million**, allocated between the Baseball and Mixed-Use Development segments[62](index=62&type=chunk) - The company faces a significant contingency from the Diamond Sports Group bankruptcy, including a potential requirement to repay up to **$34.2 million** and a risk of writing down accounts receivable and contract assets of approximately **$45.9 million** if the broadcasting agreement is rejected[106](index=106&type=chunk) - As of September 30, 2023, the company has long-term employment contract commitments totaling **$931.8 million**, with **$231.9 million** payable in the remainder of 2023 and **$157.6 million** in 2024[104](index=104&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=33&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the financial results for the third quarter and first nine months of 2023, focusing on the performance of its Baseball and Mixed-Use Development segments, highlighting revenue growth, increased operating costs, and a significant increase in Adjusted OIBDA Revenue by Segment (Nine Months Ended Sep 30, in millions) | Segment | 2023 | 2022 | Change | | :--- | :--- | :--- | :--- | | Baseball | $528.8 | $478.0 | +$50.7 | | Mixed-Use Development | $44.2 | $39.3 | +$4.9 | | **Total Revenue** | **$572.9** | **$517.3** | **+$55.6** | - Baseball event revenue for the nine months ended September 30, 2023, increased by **$43.1 million** year-over-year, driven by higher ticket demand and attendance[132](index=132&type=chunk) - Baseball operating costs for the nine months increased by **$40.4 million**, primarily due to a **$23.0 million** increase in major league player salaries[135](index=135&type=chunk) Adjusted OIBDA (Non-GAAP, in millions) | Period | 2023 | 2022 | Change | | :--- | :--- | :--- | :--- | | **Q3** | $40.3 | $24.5 | +$15.8 | | **Nine Months** | $51.4 | $47.4 | +$4.0 | - As of September 30, 2023, the company had **$106.7 million** in cash and cash equivalents, with management believing available liquidity is sufficient to cover projected uses of cash, including player contracts, capital expenditures, and debt service[151](index=151&type=chunk)[152](index=152&type=chunk) [Item 3. Quantitative and Qualitative Disclosures about Market Risk](index=45&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company discloses its exposure to market risks, primarily interest rate risk from borrowing activities, which is mitigated by maintaining a mix of fixed and variable rate debt and utilizing interest rate swaps - The company's primary market risk is from changes in interest rates affecting its variable rate debt[160](index=160&type=chunk) Debt Structure as of September 30, 2023 (in millions) | Debt Type | Principal Amount | Weighted Avg. Interest Rate | | :--- | :--- | :--- | | Floating Rate | $69.9 | 6.9% | | Fixed Rate | $489.2 | 4.4% | [Item 4. Controls and Procedures](index=46&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and procedures were effective as of September 30, 2023, with no material changes to internal control over financial reporting identified during the quarter - The company's executives concluded that disclosure controls and procedures were effective as of September 30, 2023[162](index=162&type=chunk) - No material changes in the company's internal control over financial reporting occurred during the third quarter of 2023[163](index=163&type=chunk) Part II [Part II — Other Information](index=47&type=section&id=Part%20II%20%E2%80%94%20Other%20Information) This section covers other required information, including legal proceedings, risk factors, equity security sales, and exhibits [Item 1. Legal Proceedings](index=47&type=section&id=Item%201.%20Legal%20Proceedings) This section refers to Note 7 of the financial statements for information on legal proceedings, including lawsuits arising in the normal course of business and the significant contingency related to the Diamond Sports Group bankruptcy - The company is involved in various lawsuits arising in the normal course of business, for which management does not expect the outcomes to be material[108](index=108&type=chunk)[165](index=165&type=chunk) - A key legal contingency involves the Diamond Sports Group bankruptcy, which could require repayment of up to **$34.2 million** and a write-down of **$45.9 million** in receivables[106](index=106&type=chunk) [Item 1A. Risk Factors](index=47&type=section&id=Item%201A.%20Risk%20Factors) The company incorporates by reference the risk factors detailed in its Form S-4 Registration Statement filed on June 8, 2023, covering uncertainties related to the Split-Off, financial obligations, economic conditions, and industry-specific challenges - Risk factors are incorporated by reference from the company's S-4 Registration Statement (File No. 333-268922) filed on June 8, 2023[166](index=166&type=chunk) [Item 2. Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities](index=47&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%2C%20Use%20of%20Proceeds%2C%20and%20Issuer%20Purchases%20of%20Equity%20Securities) The company reports that no shares were surrendered by its officers and employees to pay withholding taxes in connection with the vesting or exercise of equity awards during the third quarter of 2023 - No shares were surrendered by employees for tax withholding on equity awards during the quarter ended September 30, 2023[166](index=166&type=chunk) [Item 5. Other Information](index=47&type=section&id=Item%205.%20Other%20Information) The company states that none of its directors or officers adopted or terminated a Rule 10b5-1 trading plan or any other non-Rule 10b5-1 trading arrangement during the third quarter of 2023 - No directors or officers adopted or terminated a Rule 10b5-1 trading arrangement during the fiscal quarter ended September 30, 2023[167](index=167&type=chunk) [Item 6. Exhibits](index=48&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed as part of the Form 10-Q, including corporate governance documents, incentive plans, material contracts, and required certifications under Sarbanes-Oxley - The report lists exhibits filed, including the Amended and Restated Articles of Incorporation, Bylaws, various incentive and compensation plan documents, and required certifications[170](index=170&type=chunk)

Financial Data and Key Metrics Changes - Liberty SiriusXM's EBITDA grew by 4% year-over-year and 6% sequentially, with $40 million in cost savings realized during Q3 [6][15] - The dividend for SiriusXM was raised by 10%, reflecting confidence in cash flow generation capabilities [6] - Liberty SiriusXM Group had attributed cash and liquid investments of $339 million as of September 30, 2023 [14] Business Line Data and Key Metrics Changes - The Formula One Group saw a higher proportion of season-based income due to eight out of 22 races occurring in Q3 compared to seven in the prior year [17] - Baseball revenue for the Atlanta Braves increased by 11% year-to-date, driven by increased ticket demand and attendance [12][13] - Live Nation reported a 36% increase in revenue year-to-date, with 140 million tickets sold compared to 121 million for the full year of 2022 [11][12] Market Data and Key Metrics Changes - The Formula One Group experienced continued sellouts in grandstands and Paddock Club, with significant growth in engagement across social platforms [8][24] - Attendance records were set at various races, including 480,000 at Silverstone and 400,000 in Mexico [22][23] - The Las Vegas Grand Prix is expected to generate an estimated $1.2 billion in local economic benefits [29] Company Strategy and Development Direction - The company proposed a combination of Liberty SiriusXM and SiriusXM to create a single share class and enhance trading dynamics [5] - The acquisition of Quint is aimed at enhancing partnerships and expanding into other live sporting events [7] - Management remains focused on strategic objectives supported by significant EBITDA and free cash flow generation [6][7] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the profitability of the Las Vegas race despite initial higher start-up costs [37][46] - The company remains bullish on the overall impact of Formula One and the potential for the Las Vegas race to be profitable [46][47] - Management acknowledged challenges in the sports rights market but remains optimistic about F1 renewals [50][51] Other Important Information - The company is preparing for its Annual Investor Day on November 9, 2023, where further updates will be provided [34] - Significant expenses were incurred for the launch of the Las Vegas race, including safety and security provisions [10][18] Q&A Session All Questions and Answers Question: On Formula One payments, are you adjusting your expectation for the economics of the race in the first year? - Management acknowledged that initial start-up costs for Vegas were higher than anticipated but remains bullish on the race's profitability [37][46] Question: Are you still expecting around $500 million of revenue for the race weekend? - Management indicated that the revenue estimates remain reasonable, and the race is expected to be very profitable [46][47] Question: How are you thinking about the potential impact of a labor strike at hotels in Las Vegas? - Management stated that they have worked with unions and believe the race will not be directly impacted [41] Question: What is the timeline for reaching an agreement with the Special Committee of Sirius? - Management indicated that if a deal is reached, it would require shareholder votes and regulatory approvals, expecting several months of delay post-agreement [55][61] Question: Can you confirm if the Vegas race is sold out on ticketing? - Management confirmed that there are only a handful of tickets left and expects the event to be sold out by race day [66] Question: What are your views on adding to the grid in Formula One? - Management stated that there is an ongoing assessment process and will inform stakeholders once completed [79]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-41746 ATLANTA BRAVES HOLDINGS, INC. (Exact name of Registrant as specified in its charter) Nevada 92-1284827 (State or ot ...

The Liberty Braves Group (NASDAQ:BATRA) Q1 2022 Earnings Conference Call May 6, 2022 10:00 AM ET Company Participants Gregory Maffei – President and Chief Executive Officer Brian Wendling – Chief Accounting and Principal Financial Officer Stefano Domenicali – President and Chief Executive Officer of Formula One Courtnee Chun – Chief Portfolio Officer Conference Call Participants David Karnovsky – JPMorgan Bryan Kraft – Deutsche Bank Vijay Jayant – Evercore Barton Crockett – Rosenblatt Securities David Joyce ...

The Liberty Braves Group (NASDAQ:BATRA) Q3 2020 Earnings Conference Call November 5, 2020 10:00 AM ET Company Participants Courtnee Chun - Chief Portfolio Officer Greg Maffei - President and CEO Brian Wendling - Principal Financial Officer Charles Carey - Chairman and CEO-Formula One Conference Call Participants Bryan Kraft - Deutsche Vijay Jayant - Evercore Ben Swinburne - Morgan Stanley David Karnovsky - JPMorgan David Beckel - Berenberg Capital Markets Brian Russo - Credit Suisse Brandon Ross - LightShe ...