NEW YORK--(BUSINESS WIRE)--TKO Group Holdings, Inc. (NYSE: TKO), a premium sports and entertainment company, today announced that it has combined the UFC and WWE global partnerships teams into one unit, providing brands with access to one of the most formidable sports marketing portfolios in the world. UFC and WWE, which collectively serve more than one billion young and diverse fans in 170 countries, provide brand partners unparalleled scale and reach across multiple platforms, including premium live even ...

Endeavor Group Holdings, Inc. (NYSE:EDR) Q3 2023 Earnings Conference Call November 8, 2023 8:00 AM ET Company Participants James Marsh - IR Ari Emanuel - CEO Jason Lublin - CFO Mark Shapiro - President and COO Conference Call Participants David Karnovsky - J.P. Morgan Stephen Laszczyk - Goldman Sachs Stephen Glagola - TD Cowen David Joyce - Seaport Global Operator Hello and welcome to the Endeavor's Third Quarter 2023 Results Call. My name is Lauren, and I will be coordinating your call today. There will be ...

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 September 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: 001-40373 ENDEAVOR GROUP HOLDINGS, INC. (Exact name of registrant as specified in its charter) (State or other jurisdict ...

Endeavor Group Holdings, Inc. (NYSE:EDR) Q2 2023 Earnings Conference Call August 8, 2023 5:00 PM ET Company Participants James Marsh - IR Ari Emanuel - CEO Jason Lublin - CFO Mark Shapiro - President and COO Conference Call Participants John Hodulik - UBS Ben Swinburne - Morgan Stanley Bryan Kraft - Deutsche Bank Stephen Laszczyk - Goldman Sachs Jessica Reif Ehrlich - Bank of America Securities David Joyce - Seaport Global Tom Champion - Piper Sandler Operator Good afternoon. Thank you for attending the End ...

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: 001-40373 ENDEAVOR GROUP HOLDINGS, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction o ...

Financial Data and Key Metrics Changes - The company generated $1.597 billion in consolidated revenue for Q1 2023, an increase of $123.1 million or 8.4% compared to the prior year [26] - Adjusted EBITDA for the quarter was $306.4 million, down $8.1 million or 2.6% from the prior year [26] - Free cash flow was $42 million, up $122 million over the prior year [26] Business Line Data and Key Metrics Changes - Owned Sports Properties segment revenue was $353.3 million, up $56.6 million or 19%, with adjusted EBITDA of $185.7 million, up 25% [26][30] - Events, Experiences & Rights segment reported revenue of $800.8 million, up $19.9 million or 2.5%, with adjusted EBITDA down 14.3% [28] - Representation segment revenue was $350.2 million, a decrease of $7.1 million or 2%, with adjusted EBITDA down 17% [29] - Sports Data & Technology segment revenue was $100.9 million, an increase of 124%, with adjusted EBITDA down 31% [30] Market Data and Key Metrics Changes - UFC events saw record-breaking attendance, with UFC 284 in Perth being the highest grossing event in Australia and UFC 285 in Las Vegas being the highest grossing Pay-Per-View event in the past 12 months [27] - PBR had its best start to the year in its 30-year history, with 24 sold-out performances and 31 event revenue records [20][27] Company Strategy and Development Direction - The company aims to integrate UFC and WWE under a new publicly listed company, TKO, to create a global live sports and entertainment entity [18] - The company is focused on capital allocation to fuel growth and leverage its portfolio effectively [18] - Plans to redeploy capital include paying down debt, stock buybacks, and initiating a quarterly dividend [31] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the recovery of the theatrical business and the demand for premium content [9][22] - The company is monitoring the impact of the writers' strike on its Representation segment, with potential effects depending on the duration of the strike [22][45] - The company remains well-positioned to capitalize on resilient trends in premium content and live events [22] Other Important Information - The company sold IMG Academy for $1.25 billion and Endeavor Content for $1 billion, highlighting the value of its portfolio [11][18] - The company expects net leverage to decrease significantly by year-end following the IMG Academy sale and the anticipated close of the UFC-WWE transaction [30] Q&A Session All Questions and Answers Question: Can you discuss the rationale behind the dividend and buyback at this stage? - Management indicated that the sale of IMG Academy provides greater financial flexibility and an opportunity to return capital to shareholders while still pursuing growth [44] Question: What is the current status of the writers' strike and its potential impact? - Management stated that the duration of the strike is uncertain, and its impact will depend on various factors, including ongoing negotiations [45] Question: Can you elaborate on the opportunity to bundle UFC and WWE content? - Management is currently focused on integration and cost management rather than bundling content at this stage [47] Question: What is the optimal debt leverage for the company going forward? - Management aims to maintain a leverage ratio below 4x, with expectations to be in the mid-2s post-TKO transaction [50] Question: How is the operating free cash flow trending? - Management noted that Q1 free cash flow was $42 million, indicating a positive trend despite being seasonally light [52]

Part I – FINANCIAL INFORMATION [Financial Statements (Unaudited)](index=5&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) Presents unaudited Q1 2023 financials, including key statements and notes on major strategic transactions [Consolidated Balance Sheets](index=5&type=section&id=Consolidated%20Balance%20Sheets) Total assets reached $12.62 billion, with goodwill and long-term debt as major balance sheet components Consolidated Balance Sheet Highlights (in thousands) | Balance Sheet Item | March 31, 2023 | December 31, 2022 | | :--- | :--- | :--- | | **Total Assets** | **$12,619,690** | **$12,503,842** | | Cash and cash equivalents | $718,658 | $767,828 | | Goodwill | $5,302,070 | $5,284,697 | | Intangible assets, net | $2,190,078 | $2,205,583 | | **Total Liabilities** | **$9,222,726** | **$9,197,270** | | Long-term debt | $5,062,508 | $5,080,237 | | Tax receivable agreement liability | $997,828 | $1,011,721 | | **Total Shareholders' Equity** | **$3,142,725** | **$3,053,493** | [Consolidated Statements of Operations](index=7&type=section&id=Consolidated%20Statements%20of%20Operations) Q1 revenue grew to $1.60 billion, but net income fell sharply due to a prior-year one-time gain Consolidated Statements of Operations Highlights (in thousands, except per share data) | Metric | Q1 2023 | Q1 2022 | | :--- | :--- | :--- | | **Revenue** | **$1,596,837** | **$1,473,763** | | Operating Income | $136,591 | $173,915 | | **Net Income** | **$36,255** | **$517,666** | | Net Income attributable to EGH | $8,031 | $319,546 | | **Diluted EPS** | **$0.03** | **$1.16** | [Consolidated Statements of Cash Flows](index=11&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Operating activities generated $96.7 million in cash, a reversal from the prior year's use of cash Consolidated Cash Flow Summary (in thousands) | Cash Flow Activity | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 | | :--- | :--- | :--- | | Net cash provided by (used in) operating activities | $96,722 | $(58,098) | | Net cash (used in) provided by investing activities | $(74,120) | $544,739 | | Net cash used in financing activities | $(89,862) | $(19,143) | | (Decrease) increase in cash | $(59,730) | $496,553 | [Notes to Consolidated Financial Statements](index=12&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) Discloses a new segment, the UFC-WWE combination, the IMG Academy sale, and ongoing antitrust litigation - Effective January 1, 2023, the company created a fourth reportable segment, **Sports Data & Technology**, which includes IMG ARENA and the recently acquired OpenBet business[107](index=107&type=chunk) - In April 2023, the company entered into an agreement to **combine its UFC business with WWE** to form a new publicly traded company, with Endeavor holding a 51% controlling interest[117](index=117&type=chunk) - In April 2023, the company signed an agreement to **sell IMG Academy for estimated cash proceeds of approximately $1.1 billion**, with the closing expected in Q3 2023[119](index=119&type=chunk) - Zuffa (UFC) is defending against **five related class-action lawsuits alleging antitrust violations**, with a new case filed in June 2021[112](index=112&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=26&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Analyzes Q1 2023 results, highlighting 8.4% revenue growth to $1.6 billion and segment performance Q1 2023 Revenue by Segment (in thousands) | Segment | Q1 2023 Revenue | Q1 2022 Revenue | % Change | | :--- | :--- | :--- | :--- | | Owned Sports Properties | $353,289 | $296,689 | 19.1% | | Events, Experiences & Rights | $800,786 | $780,935 | 2.5% | | Representation | $350,240 | $357,321 | (2.0%) | | Sports Data & Technology | $100,859 | $45,043 | 123.9% | | **Total Revenue** | **$1,596,837** | **$1,473,763** | **8.4%** | - **Consolidated Adjusted EBITDA for Q1 2023 was $306.4 million**, compared to $314.4 million in Q1 2022[189](index=189&type=chunk) - The company announced a new event-driven **share repurchase authorization of up to $300 million** and anticipates initiating quarterly cash dividends of up to $25 million[219](index=219&type=chunk) [Results of Operations](index=28&type=section&id=RESULTS%20OF%20OPERATIONS) Revenue grew 8.4%, but net income fell due to a prior-year asset sale and rising SG&A and interest costs - The decrease in net income was primarily driven by a **$463.6 million gain on the sale of the restricted Endeavor Content business in Q1 2022**, which was not repeated in 2023[155](index=155&type=chunk) - **Selling, general and administrative (SG&A) expenses increased by $129.0 million (23.9%)**, driven by higher personnel costs and recent acquisitions[149](index=149&type=chunk) - **Net interest expense increased by $25.8 million (43.6%)** to $85.1 million, primarily due to higher interest rates on variable-rate debt[152](index=152&type=chunk) [Segment Results of Operations](index=30&type=section&id=SEGMENT%20RESULTS%20OF%20OPERATIONS) Owned Sports Properties led growth, while other segments saw mixed results in revenue and Adjusted EBITDA Adjusted EBITDA by Segment (in thousands) | Segment | Q1 2023 Adj. EBITDA | Q1 2022 Adj. EBITDA | % Change | | :--- | :--- | :--- | :--- | | Owned Sports Properties | $185,671 | $148,741 | 24.8% | | Events, Experiences & Rights | $107,991 | $126,001 | (14.3%) | | Representation | $84,206 | $101,705 | (17.2%) | | Sports Data & Technology | $4,472 | $6,482 | (31.0%) | | Corporate | $(75,948) | $(68,480) | (10.9%) | [Liquidity and Capital Resources](index=34&type=section&id=LIQUIDITY%20AND%20CAPITAL%20RESOURCES) The company holds $5.1 billion in debt and plans to use future liquidity for growth, debt service, and capital returns - As of March 31, 2023, the company had an aggregate of **$5.1 billion in outstanding indebtedness** under its senior credit facilities[195](index=195&type=chunk) - The company has a **Tax Receivable Agreement (TRA) liability of $997.8 million** as of March 31, 2023, related to tax benefits from its IPO and subsequent transactions[223](index=223&type=chunk) - Future sources of liquidity include cash on hand, cash from operations, available borrowings, and **expected proceeds from the sale of the IMG Academy business**[217](index=217&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=37&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) Primary market risks include interest rates, foreign currency, and credit, with quantified potential impacts - A **1% increase in effective interest rates** on the unhedged portion of its long-term debt would increase annual interest expense by approximately **$28 million**[227](index=227&type=chunk) - A **10% appreciation of the U.S. dollar** against the foreign currencies used by operations in Q1 2023 would have decreased revenues by approximately **$31.7 million**[230](index=230&type=chunk) [Controls and Procedures](index=37&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of March 31, 2023 - The CEO and CFO concluded that the company's **disclosure controls and procedures were effective** at the reasonable assurance level as of March 31, 2023[235](index=235&type=chunk) - **No material changes in internal control over financial reporting** occurred during the quarter[236](index=236&type=chunk) Part II – OTHER INFORMATION [Legal Proceedings](index=38&type=section&id=Item%201.%20Legal%20Proceedings) Details various legal proceedings, with significant antitrust litigation against Zuffa (UFC) noted - The company is involved in various legal proceedings, with detailed descriptions provided in **Note 16 of the financial statements**[237](index=237&type=chunk) - Key legal proceedings mentioned in Note 16 include **five related class-action antitrust lawsuits** filed against Zuffa (UFC) by former fighters[112](index=112&type=chunk) [Risk Factors](index=38&type=section&id=Item%201A.%20Risk%20Factors) Highlights new risks related to the proposed UFC-WWE combination and new capital return policies - The pendency of the proposed transaction to **combine UFC and WWE could cause business disruptions**, affecting relationships with customers, clients, partners, and employees[239](index=239&type=chunk) - There is a risk that the **WWE transaction may not be completed**, which could lead to significant unrecoverable costs and negative market reactions[241](index=241&type=chunk)[243](index=243&type=chunk) - The new **$300 million stock repurchase authorization is event-driven and not guaranteed**, and the planned quarterly dividend is also discretionary[244](index=244&type=chunk)[245](index=245&type=chunk) [Exhibits](index=40&type=section&id=Item%206.%20Exhibits) Lists all exhibits filed with the report, including the WWE transaction agreement and officer certifications - Key exhibits filed include the **Transaction Agreement with WWE**, amendments to credit facilities, and Sarbanes-Oxley Act certifications by the CEO and CFO[246](index=246&type=chunk)

Endeavor Group Holdings, Inc. (NYSE:EDR) Q4 2022 Results Conference Call February 28, 2023 5:00 PM ET Company Participants James Marsh - Investor Relations Ari Emanuel - Chief Executive Officer Jason Lublin - Chief Financial Officer Conference Call Participants Ben Swinburne - Morgan Stanley Jessica Ehrlich - Bank of America John Hodulik - UBS Kutgun Maral - RBC Capital Markets Tom Champion - Piper Sandler Stephen Laszczyk - Goldman Sachs David Karnovsky - JPMorgan Jason Bazinet - Citi Operator Good afterno ...

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, 2022 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: 001-40373 ENDEAVOR GROUP HOLDINGS, INC. (Exact name of registrant as specified in its charter) Delaware 83-3340169 (State or othe ...

Financial Data and Key Metrics Changes - For Q3 2022, the company generated $1.221 billion in consolidated revenue, down $170 million or 12% compared to the previous year, primarily due to the sale of the restricted Endeavor content business [18] - Net loss for the quarter was $12.5 million, compared to net income of $63.6 million a year ago, influenced by $85 million of losses from affiliates [18] - Adjusted EBITDA for the quarter was $303.1 million, up $19.8 million or 7% [19] - Free cash flow was $153.2 million, representing a 50.5% conversion of adjusted EBITDA to free cash flow [19] Business Segment Data and Key Metrics Changes - Owned Sports Properties segment generated revenue of $402.3 million, up $113.8 million or 39%, with adjusted EBITDA of $195.7 million, up 45% [20] - Events, Experiences & Rights segment recorded revenue of $440.6 million, down $5.7 million or roughly 1%, with adjusted EBITDA of $49.7 million, down nearly 42% [22] - Representation segment revenue was $388.3 million, a decrease of $276.4 million or nearly 42%, but would have been up 17% excluding the restricted Endeavor Content business [26] Market Data and Key Metrics Changes - The demand for premium sports and entertainment content remains strong, with tech companies like Amazon and Alphabet competing for sports rights [7] - The UFC achieved 26 consecutive sellouts since resuming events post-COVID, indicating strong consumer demand for live events [12] - The company noted record attendance at various events, including the NFL International games and the Super Bowl 57 sales pacing well [13] Company Strategy and Industry Competition - The company is positioned as a premium content supplier, benefiting from the competition among tech and media companies for sports and entertainment content [7] - The acquisition of OpenBet is expected to enhance the company's offerings in the sports betting space, creating synergies with IMG Arena [25] - The company remains confident in its long-term growth strategy despite macroeconomic challenges, focusing on resilient industry trends [15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate macro headwinds and capitalize on long-term growth opportunities [15] - The company anticipates a tightening of revenue guidance for 2022, projecting revenue between $5.235 billion and $5.325 billion, representing a year-over-year growth of 21% [28] - Management highlighted the ongoing demand for live events and experiences, with strong performance across various segments [49] Other Important Information - The company ended the quarter with $5.5 billion in debt and $970.8 million in cash, with plans to pay down an additional $250 million of debt [27] - The company expects free cash flow conversion of approximately 40% for the full year 2022 and around 50% for 2023 [27] Q&A Session Summary Question: Impact of weakening ad market on sports rights spending - Management noted that premium content remains in high demand, and traditional companies are still investing in sports rights despite market challenges [32] Question: Integration plans for OpenBet and IMG Arena - Management indicated that both businesses are profitable and expect to achieve meaningful revenue synergies from their integration [35] Question: Capital allocation strategy in a higher cost of capital environment - Management emphasized a focus on debt repayment and maximizing shareholder value through various means, including potential M&A opportunities [39][40] Question: Engagement and pay-per-view revenue for UFC on ESPN - Management explained that pay-per-view revenue can fluctuate based on matchups, but overall engagement remains strong with record-breaking sellouts [45] Question: FX exposure and its impact on revenue - Management clarified that while FX exposure is a headwind, it has limited impact on the bottom line due to offsetting costs [36][50] Question: Portfolio optimization following the sale of Miss Universe - Management stated that they continuously evaluate their portfolio for optimization opportunities, including potential asset sales [59]