Financial Performance - Consolidated revenue increased by $382 million (17.5%) and $697 million (13.6%) for the three and six months ended June 30, 2022, respectively, driven by growth in Formula 1, Sirius XM Holdings, and Braves Holdings [226]. - Consolidated operating income decreased by $66 million (10.6%) for the three months ended June 30, 2022, but increased by $255 million (33.4%) for the six months ended June 30, 2022, compared to the prior year, primarily due to a decrease in Sirius XM Holdings [227]. - Adjusted OIBDA increased by $63 million (7.7%) and $127 million (8.3%) for the three and six months ended June 30, 2022, respectively, compared to the same periods in the prior year, with notable increases in Formula 1 and Braves Holdings [231]. - Net earnings for the three and six months ended June 30, 2022, were $674 million and $970 million, respectively, compared to $528 million and $514 million for the same periods in 2021, reflecting fluctuations in revenue and expenses [243]. - Total revenue for Sirius XM Holdings was $4,440 million for the six months ended June 30, 2022, compared to $4,217 million for the same period in 2021, representing an increase of approximately 5% [274]. Cash and Liquidity - As of June 30, 2022, the Liberty SiriusXM Group has cash and cash equivalents of approximately $494 million, including $126 million of subsidiary cash [217]. - As of June 30, 2022, Liberty had $494 million in cash and cash equivalents within the Liberty SiriusXM Group, $207 million in the Braves Group, and $1,944 million in the Formula One Group, totaling $2.645 billion [247]. - Liberty's cash provided by operating activities for the six months ended June 30, 2022, was $887 million for the Liberty SiriusXM Group, $100 million for the Braves Group, and $234 million for the Formula One Group, totaling $1.221 billion [252]. - Liberty expects to fund its projected cash uses through cash on hand, borrowing capacity under margin loans, and dividends from operating subsidiaries [256]. - Sirius XM Holdings expects to fund its projected uses of cash with cash provided by operations, cash on hand, and borrowings under its existing credit facility [257]. Subscriber Metrics - Sirius XM Holdings had approximately 34.0 million subscribers as of June 30, 2022, with subscription fees being the primary revenue source [263]. - Pandora had approximately 6.3 million subscribers as of June 30, 2022, generating revenue primarily from advertising on its ad-supported radio service [266]. - Subscriber revenue for Sirius XM increased by approximately 5% for the three months ended June 30, 2022, reaching $1,588 million, driven by a 7% increase in average monthly revenue per subscriber [274]. - Subscriber acquisition costs increased by approximately 2% for the three months ended June 30, 2022, totaling $91 million, driven by higher OEM installations [285]. - Subscriber revenue for Pandora decreased 2% for the three months ended June 30, 2022 [266][279]. Revenue Sources - Advertising revenue for Sirius XM increased by approximately 11% for both the three and six months ended June 30, 2022, totaling $50 million and $97 million respectively, due to a greater number of spots sold [275]. - Pandora and off-platform advertising revenue increased by 5% for the three months ended June 30, 2022, reaching $402 million, attributed to higher podcast revenue and AdsWizz platform performance [280]. - Total Formula 1 revenue increased to $744 million for the three months and $1,104 million for the six months ended June 30, 2022, compared to $501 million and $681 million in the prior year [293]. - Primary Formula 1 revenue increased by $164 million and $292 million during the three and six months ended June 30, 2022, respectively, due to higher race promotion, media rights, and sponsorship revenue [295]. - Braves Holdings' baseball revenue increased by $44 million (21.6%) to $247 million for the three months ended June 30, 2022, compared to $204 million in the prior year [308]. Operating Expenses - Total operating expenses for Sirius XM increased, with selling, general and administrative expenses rising by 14% for the three months ended June 30, 2022, totaling $386 million [286]. - Selling, general and administrative expenses rose by $19 million and $32 million during the three and six months ended June 30, 2022, respectively, primarily due to higher personnel and IT costs [302]. - Other operating expenses increased approximately 7% and 8% for the three and six months ended June 30, 2022, respectively, driven by higher cloud hosting costs [287]. - Other operating expenses increased by $33 million (23.2%) to $175 million for the three months ended June 30, 2022, compared to $142 million in the prior year, primarily due to higher player salaries and game day expenses [310]. - Stock-based compensation expense decreased to $112 million for the six months ended June 30, 2022, down from $123 million in the prior year, primarily due to decreases at Formula 1 and Sirius XM Holdings [229]. Risks and Compliance - The company faces risks related to competition, regulatory compliance, and the ability to attract and retain subscribers and listeners [205]. - The operational risks of subsidiaries and business affiliates with operations outside of the United States may impact overall performance [205]. - As of June 30, 2022, Liberty and its subsidiaries were in compliance with their debt covenants [250].

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, 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 001-35707 LIBERTY MEDIA CORPORATION (Exact name of Registrant as specified in its charter) State of Delaware 37-1699499 (Sta ...

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, 2021 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 001-35707 LIBERTY MEDIA CORPORATION (Exact name of Registrant as specified in its charter) State of Delaware (State or other juri ...

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, 2021 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 001-35707 LIBERTY MEDIA CORPORATION (Exact name of Registrant as specified in its charter) State of Delaware 37-1699499 ...

WASHINGTON, D. C. 20549 Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION 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, 2021 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 001-35707 LIBERTY MEDIA CORPORATION (Exact name of Registrant as specified in its charter) State of Delaware 37-1699499 (Stat ...

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, 2021 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 001-35707 LIBERTY MEDIA CORPORATION (Exact name of Registrant as specified in its charter) State of Delaware 37-1699499 (Sta ...

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, 2020 OR State of Delaware (State or other jurisdiction of incorporation or organization) 37-1699499 (I.R.S. Employer Identification No.) 12300 Liberty Boulevard Englewood, Colorado (Address of principal executive offices) 80112 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF TH ...

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, 2020 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 001-35707 Securities registered pursuant to Section 12(b) of the Act: | Title of each class | Trading Symbol | Name of e ...

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, 2020 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 001-35707 LIBERTY MEDIA CORPORATION (Exact name of Registrant as specified in its charter) State of Delaware 37-1699499 (Stat ...

Table of Contents ☐ 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 001-35707 LIBERTY MEDIA CORPORATION 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, 2020 OR (Exact name of Registrant as specified in its charter) State of Delaware 37-1699499 (Sta ...