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Liberty Media Corporation Announces Quarterly Interest Payment and Excess Regular Additional Distribution on 2.125% Exchangeable Senior Debentures Due 2048

ENGLEWOOD, Colo.--(BUSINESS WIRE)-- Liberty Media Corporation (鈥淟iberty鈥�) (NASDAQ: LSXMA, LSXMB, LSXMK, FWONA, FWONK, BATRA, BATRK) today announced the payment of a quarterly interest payment and an Excess Regular Additional Distribution to the holders as of March 15, 2023 of its 2.125% Exchangeable Senior Debentures due 2048 (the 鈥淒ebentures鈥�). The amount of the quarterly interest payment is $5.3125 per $1,000 original principal amount of Debentures, and the amount of the Excess Regular Additional Distribution is $1.6459 per $1,000 original principal amount of Debentures. As of March 31, 2023, the aggregate adjusted principal amount outstanding is approximately $275 million, after giving effect to today鈥檚 quarterly interest payment. Capitalized terms used but not defined herein have the meaning given to them in the Indenture for the Debentures.

Under the Indenture for the Debentures, the original principal amount of the Debentures is reduced in an amount equal to each Extraordinary Additional Distribution that is made to holders of the Debentures. Thereafter, the adjusted principal amount is further reduced on each successive quarterly interest payment date to the extent necessary to cause the quarterly interest payment to represent the payment of an annualized yield of 2.125% of the adjusted principal amount. This latter adjustment, to the extent it is made by reason of a particular Extraordinary Additional Distribution that results in a reduction to the principal amount of the Debentures, takes effect on the second succeeding interest payment date after the payment of that Extraordinary Additional Distribution.

To date, Liberty has made one Extraordinary Additional Distribution to holders of the Debentures. As previously announced, on March 4, 2022, Liberty made an Extraordinary Additional Distribution of $31.1731 per $1,000 original principal amount of Debentures, which was attributable to the special cash dividend paid on February 25, 2022 by Sirius XM Holdings Inc. (鈥淪IRI鈥�) to holders of its common stock of record as of the close of business on February 11, 2022.

Reductions to the principal amount of the Debentures do not affect the amount of the quarterly interest payments received by holders of the Debentures, which will continue to be a rate equal to 2.125% per annum of the original principal amount of the Debentures. Below is a detail of the amount of the quarterly interest payment being made on the Debentures, its allocation between payment of interest and repayment of principal and the revised adjusted principal amount of the Debentures resulting from such payment, per $1,000 original principal amount of the Debentures: