UFC W Investor Presentation

ENDEAVOR INVESTOR PRESENTATION APRIL 2023 NewCo Transaction Crystalizes Value Creation at UFC Since Acquisition 2016 Enterprise Value¹ $4.1B UFC Today's Enterprise Value Combined NewCo Enterprise Value² Transaction Valuation Summary $21.4B UFC W Enterprise Value² $12.1B $9.3B $9.3B $12.1B Less Net Debt³ ($2.7B) ($0.3B) UFC Equity Value $9.4B $9.0B $12.1B UFC + W FDSO4 466.1M 85.1M Contribution Price $20.15/ $105.985/ Share Share Enterprise value based on EDR total purchase price for UFC, including contingent consideration of $224M Enterprise value defined as equity value plus net debt (including cash, debt, finance leases, investments, minority interest); Equity value determined by the relative contribution values of WWE and UFC to NewCo Notes: Financial information used derived from public filings. 1234 1. 2. 3. Net debt figures represent 12/31/2022 balance sheet figures, adjusted for combined cash contributions by each of UFC / EDR and WWE 4. 5. UFC FDSO based on Endeavor's basic shares as of 01/31/2023 and dilutive securities as of 12/31/2022, as reported in the 10-K for the year ended December 31, 2022 (representing a hypothetical FDSO if UFC was spun out of Endeavor with identical capital structure as Endeavor) based on a EDR reference share price as of 03/31/2023. WWE FDSO based on WWE's basic shares as of 01/31/2023, as reported in the 10-K for the year ended December 31, 2022, and dilutive securities as of 03/31/2023, including dilution for market value of WWE convertible note Before any post-closing dividend PG.6

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