Investor Presentaiton

Standalone, Dow Jones is a well-scaled preeminent financial news and information business Dow Jones alone is worth $9 billion+, 2.1x the implied value of News Corp after backing out its interest in REA I. Dow Jones has a full C-Suite and can be run independently • Dow Jones has its own Chief Executive Officer, Chief Financial Officer, General Counsel, Chief Revenue Officer, Regional & Segment Presidents • CEO Almar Latour's experience (Editor-in-Chief Asia, Managing Editor of WSJ Online) is well-suited to Dow Jones' goals - international expansion and growth of "business-to-professional" digital bundles II. Standalone growth profile and scale is comparable to listed financial news and information peers Standalone Dow Jones would be expected to produce $2 billion+ in revenue and $500 million+ in EBITDA III. • The New York Times: $2.4bn in sales / $342mm in EBITDA / $5.4bn enterprise value • • Dow Jones: $2.3bn in sales / $529mm in EBITDA / ??? bn enterprise value • Morningstar: $2.1bn in sales / $472mm in EBITDA / $11.1bn enterprise value CoStar Group: $2.5bn in sales / $755mm in EBITDA / $29.2bn enterprise value . MSCI: $2.4bn in sales / $1.4bn in EBITDA / $43.0bn enterprise value At a $9.2 billion market capitalization, Dow Jones would rank higher in market cap than 35 members of the S&P 500 S&P 500 Ranking by Market Capitalization (hypothetical) 463. $9,258mm Advance Auto Parts 464. $9,216mm WestRock 465. $9,215mm | D DOW JONES 466. $9,157mm 467. $9,136mm American Airlines AOSmith. Innovation has a name. Source: Bloomberg, FactSet, S&P CapitallQ; revenue and EBITDA figures represent NTM estimates, market capitalization per shares outstanding prior to dilution from options Note: News Corp Enterprise Value of $11.0bn ($10.4bn market cap + $652mm net debt) less REA stake of $6.7bn results in value $4.4bn Market values of 16 November 2022 per Bloomberg IRENIC PAGE 11

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