Investor Presentaiton

SIMPLIFIED TRANSACTION STRUCTURE Multiple paths to maximize value, including tax-free separation of Digital Real Estate Given the 80% ownership of Move and recent Australian restructure, possible for News Corp to Spin REA Group + Move, Inc. tax-free 4 1 Formation of SpinCo STEP 1 / SpinCo is formed as a wholly owned corporate subsidiary of News Corp Public Shareholders News Corp (Delaware) 61.4% Ownership 80% Ownership REA Group Ltd. (Australia) Move, Inc. (Delaware) SpinCo (Delaware) Digital Media Subsidiaries News Corp (Delaware) Digital Media Subsidiaries IRENIC Final Structure Public Shareholders SpinCo (Delaware) REA Group Ltd. (Australia) 2 Contribution of Assets to SpinCo STEP 2 / News Corp contributes 100% of its equity in Move & REA Group to SpinCo Public Shareholders News Corp (Delaware) 61.4% Ownership 80% Ownership Move, Inc. (Delaware) SpinCo (Delaware) Digital Media Subsidiaries REA Group Ltd. (Australia) News Corp's equity in REA Group News Corp's equity in Move 3 Distribution of SpinCo Shares to News Corp Shareholders STEP 3 / News Corp distributes 100% of Spin Co's shares to public shareholders of News Corp on a pro rata basis Public Shareholders 100% of SpinCo Shares News Corp (Delaware) SpinCo (Delaware) Move, Inc. (Delaware) REA Group Ltd. (Australia) Move, Inc. (Delaware) Digital Media Subsidiaries PAGE 40

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