Investor Presentaiton

News Corp is worth substantially more than its trading price News Corp: Fair Market Value Versus Share Price $45 $40 $1 $2 ($5) +90% $35 $2 $6 $30 $25 $20 $16 $34 $15 $10 $12 $5 $0 $18 Gross Asset Net Debt + Fair Market Value Overhead Share Price Value ■REA ■Dow Jones ■Book Publishing Move News Media FOXTEL IRENIC "We still see a significant discount in the sum-of-the-parts, and we still believe that the assets across our portfolio are undervalued, not withstanding all the work we've done..." Susan Panuccio Deutsche Bank Conference 103 March 2022 L PAGE 27

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