Atlanta Braves Holdings, Inc.

ABH cash decreased $148 million during the second quarter primarily as a result of the Acquisition, other capital expenditures, seasonal working capital changes, and increases in restricted cash held.

SEC original ↗Atlanta Braves Holdings, Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

ABH debt increased $3 million in the second quarter primarily due to borrowings on Mixed-Use Development debt to support capital projects.

SEC original ↗Atlanta Braves Holdings, Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

Notes to Condensed Consolidated Financial Statements (Continued) (unaudited) operation and management of a Club, which among other things, require each Club to comply with limitations on the amount of debt a Club can incur, revenue sharing arrangements with the other Clubs, commercial arrangements with regard to the national broadcasting of its games and other programming and commercial arrangements relating to the use of its intellectual property.

SEC original ↗Atlanta Braves Holdings, Inc. — 10-Q Quarterly report10-QAug 5, 2026

(5) Debt Debt is summarized as follows: June 30, December 31, 2026 2025 amounts in thousands Baseball League wide credit facility $ 50,000 MLB facility fund term 30,000 30,000 MLB facility fund revolver 35,650 36,800 TeamCo revolver 45,000 35,000 Term debt 148,488 151,992 Mixed-Use Development Credit facilities 143,270 143,592 Term debt 342,726 343,707 Deferred financing costs ( 2,007 ) ( 2,460 ) Total debt 793,127 738,631 Debt classified as current ( 333,236 ) ( 215,347 ) Total long-term debt $ 459,891 523,284 League Wide Credit Facility In December 2013, a subsidiary of Braves Holdings executed various agreements to enter into MLB s League Wide Credit Facility (the LWCF ).

SEC original ↗Atlanta Braves Holdings, Inc. — 10-Q Quarterly report10-QAug 5, 2026

Braves Holdings also established a special purpose Delaware statutory trust, the Braves Club Trust (the Club Trust ), and transferred, among other things, to the Club Trust its rights to receive distributions of revenue from the national broadcasting contracts, which secure borrowings under the LWCF.

SEC original ↗Atlanta Braves Holdings, Inc. — 10-Q Quarterly report10-QAug 5, 2026

Major League Baseball Trust then uses the proceeds of such borrowings to provide loans to the club trusts of the participating Clubs.

SEC original ↗Atlanta Braves Holdings, Inc. — 10-Q Quarterly report10-QAug 5, 2026

This press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the business, product and marketing strategies, new service offerings, future financial performance and prospects, trends and any other matters that are not historical facts.

SEC original ↗Atlanta Braves Holdings, Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

The words "believe," "estimate," "expect," "anticipate," "intend," "plan," "strategy," "continue," "seek," "may," "could" and similar expressions or statements regarding future periods are intended to identify forward-looking statements, although not all forward-looking statements may contain such words.

SEC original ↗Atlanta Braves Holdings, Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

In addition, this measure allows management to view operating results and perform analytical comparisons and benchmarking between businesses and identify strategies to improve performance.

SEC original ↗Atlanta Braves Holdings, Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

Major League Baseball Trust has granted Wells Fargo Bank, National Association, the collateral agent in respect of the LWCF, a first priority lien to secure the borrowings under the LWCF.

SEC original ↗Atlanta Braves Holdings, Inc. — 10-Q Quarterly report10-QAug 5, 2026

Additionally, the Company considers how each operating segment is managed due to the products and services offered, the technologies used, the revenue sources generated, and marketing strategies deployed when evaluating its reportable segments.

SEC original ↗Atlanta Braves Holdings, Inc. — 10-Q Quarterly report10-QAug 5, 2026

Where, in any forward-looking statement, we express an expectation or belief as to future results or events, such expectation or belief is expressed in good faith and believed to have a reasonable basis, but such statements necessarily involve risks and uncertainties and there can be no assurance that the expectation or belief will result or be achieved or accomplished.

SEC original ↗Atlanta Braves Holdings, Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

Given these uncertainties, we caution you not to place undue reliance on these forward-looking statements.

SEC original ↗Atlanta Braves Holdings, Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

These forward-looking statements and such risks, uncertainties, and other factors speak only as of the date of this press release, and ABH expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein, to reflect any change in ABH s expectations with regard thereto, or any change in events, conditions or circumstances on which any such statement is based except to the extent required by law.

SEC original ↗Atlanta Braves Holdings, Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

Please refer to the publicly filed documents of ABH, including our Annual Report on Form 10-K for the fiscal year ended December 31, 2024, as may be updated by subsequent filings under the Securities Exchange Act of 1934, as amended, including Forms 10-Q and 8-K, for additional information about ABH and about the risks and uncertainties related to ABH s business which may affect the statements made in this press release.

SEC original ↗Atlanta Braves Holdings, Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

ABH defines Adjusted OIBDA as operating income (loss) plus stock-based compensation, depreciation and amortization, separately reported litigation settlements, restructuring, acquisition and impairment charges, if applicable.

SEC original ↗Atlanta Braves Holdings, Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

Legal Proceedings II-1 Item 1A.

SEC original ↗Atlanta Braves Holdings, Inc. — 10-Q Quarterly report10-QAug 5, 2026