Murdoch Family Trust Transfers Shares to LGC Family Trusts

On September 6, 2025, the Murdoch Family Trust (MFT) transferred approximately 50% of the Class A and Class B shares of News Corp to trusts established for the benefit of Prudence MacLeod, Elisabeth Murdoch, and James Murdoch, and the remaining shares to trusts for Lachlan K. Murdoch, Grace Murdoch, and Chloe Murdoch. On September 7, 2025, these shares were contributed to LGC Holdco, LLC, which is managed by Cruden 2, LLC. Michael Roberson, as the managing director of Cruden 2, may be deemed to beneficially own these shares, though he disclaims such ownership.