The information contained in Item 4 of the Schedule 13D is hereby supplemented to include the following information: Mr. Malone holds and has acquired the shares of Series B Liberty Formula One Common Stock described herein for investment purposes. As previously disclosed, in the Exchange Agreement, Mr. Malone agreed to an arrangement under which his aggregate voting power in the Issuer would not exceed 49% (the "Target Voting Power") plus 0.5% (under certain circumstances). In particular, pursuant to the Exchange Agreement, in connection with any event that would result in a reduction in the outstanding votes of any of the Issuer's tracking stock groups (each, a "Group") or an increase of Mr. Malone's beneficially-owned voting power in any Group (other than a Voting Power Exchange (as defined in the Exchange Agreement)) (an "Accretive Event"), in each case, such that Mr. Malone's voting power with respect to such Group would exceed the Target Voting Power plus 0.5%, Mr. Malone is required to exchange with the Issuer shares of Series B common stock of such Group for an equal number of shares of Series C common stock of the same Group so as to maintain Mr. Malone's voting power with respect to such Group as close as possible to, without exceeding, the Target Voting Power, on the terms and subject to the conditions of the Exchange Agreement (the "Reverse Exchange"). The Issuer has requested Mr. Malone to consummate, and Mr. Malone has agreed to consummate, a Reverse Exchange such that, immediately following such Reverse Exchange, Mr. Malone's outstanding voting power of the Issuer's Liberty Formula One common stock will be reduced to be as close as possible to being equal to, but without being greater than, 49.0%. Pursuant to the foregoing and in light of the fact that there have been, and may in the future be, certain holders converting their respective shares of the Issuer's Series B Liberty Formula One Common Stock into shares of the Issuer's Series A Liberty Formula One common stock, par value $0.01 per share, that would be expected to result in the occurrence of an Accretive Event, on December 8, 2025, Mr. Malone transferred to the Issuer an aggregate of 47,297 shares of Series B Formula One Common Stock and in exchange, the Issuer issued to Mr. Malone an equivalent number of shares of the Issuer's Series C Liberty Formula One common stock, par value $0.01 per share (the "Series C Liberty Formula One Common Stock"). In connection with the foregoing Reverse Exchange, each of the Issuer and Mr. Malone waived all of their respective rights under the Exchange Agreement to rescind such Reverse Exchange. Other than as described herein, Mr. Malone does not have any present plans or proposals which relate to or would result in: (i) any acquisition by any person of additional securities of the Issuer, or any disposition of securities of the Issuer; (ii) any extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the Issuer or any of its subsidiaries; (iii) any sale or transfer of a material amount of assets of the Issuer or any of its subsidiaries; (iv) any change in the Board or management of the Issuer, including any plans or proposals to change the number or term of directors or to fill any vacancies on the Board; (v) any material change in the present capitalization or dividend policy of the Issuer; (vi) any other material change in the Issuer's business or corporate structure; (vii) any change in the Issuer's charter or bylaws or other actions which may impede the acquisition of control of the Issuer by any person; (viii) any delisting from a national securities exchange or any loss of authorization for quotation in an inter-dealer quotation system of a registered national securities association of a class of securities of the Issuer; (ix) any termination of registration pursuant to Section 12(g)(4) of the Securities Exchange Act of 1934, as amended, of a class of equity securities of the Issuer; or (x) any action similar to any of those enumerated above.