Ownership Transfer and Restructuring of News Corp Shares

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 their descendants. The remaining shares were transferred to trusts for Lachlan K. Murdoch, Grace Murdoch, and Chloe Murdoch. On September 7, 2025, these shares were contributed to LGC Holdco, LLC, managed by Cruden 2, LLC. Michael Roberson, the managing director of Cruden 2, may be deemed to beneficially own these shares but disclaims ownership. The filing reports the ownership structure and transactions involving these shares.