Adjusted OIBDA is a non-GAAP financial measure and may be different from similarly titled non-GAAP financial measures used by other companies. WWE views operating income as the most directly comparable GAAP measure. Adjusted OIBDA (and other non-GAAP measures such as Adjusted Operating Income, Adjusted Net Income and Adjusted EPS which are defined as the GAAP measures excluding certain nonrecurring, material items that impact the comparability between periods) should not be considered in isolation from, or as a substitute for, operating income, net income, EPS or other GAAP measures, such as operating cash flow, as an indicator of operating performance or liquidity. WWE Network continued to super-serve its global fans with live, in-ring content by producing new episodes of its cruiserweight series, 205 Live, and holding a U.K. Championship Tournament, featuring local talent WrestleMania was the most viewed WWE premium live event of all time. Global unique viewership increased 29% and domestic unique viewership increased 31% year-over-year

WWE’s YouTube channel remained the #1 most viewed Sports Channel and the 2 nd most viewed channel on YouTube with 20 billion lifetime views (as of January 31, 2018)The Company announced a multi-year content distribution deal in China with PPTV, the return of a WWE live event to Shanghai in September and the signing of the first-ever Chinese talent

While a pandemic is never an ideal time for any business, WWE has made the most of whatever obstacles they encountered in the past 22 months to ensure that regular television programming continued while also securing their financial future. The Company premiered new original content across platforms, including Total Bellas® (E! network), The Bella Twins® (YouTube channel), 205 Live™ and WWE Story Time™ (WWE Network)Through the first nine months of 2016, digital engagement continued to grow with video views up 71% to Announced a multi-year expansion of the Company’s original programming partnership with A&E that includes more than 130 new hours of premium WWE-themed series and specials Through the first nine months of 2017, digital engagement continued to grow with video views up 23% to 14.2 billion and social media engagements up 5% to 912 million from the prior year

WWE announced a multi-year extension with USA Network for NXT, which moved the airing of its two- hour, live show to Tuesday nights (effective April 13) Through the first six months of the year, digital engagement metrics continued to grow with video views up over 100% to nearly 8 billion and social media engagements up 39% to 570 million versus the prior year could be looked at as a test to see how many events it can, and should run, while still maximizing profits without needing to go 310 events a year. Because of the nature of these items, WWE is unable to estimate the amounts of any adjustments for these items for periods after March 31, 2023 due to its inability to forecast if or when such items will occur. These items are inherently unpredictable and may not be reliably quantified.Other revenue within the Media segment reflects revenue from the distribution of other WWE content, including, but not limited to, certain live in-ring programming content in international markets, scripted, reality and other programming. As previously disclosed, Vincent K. McMahon, the Company’s Executive Chairman and shareholder with a controlling interest, in cooperation with WWE’s management team and Board of Directors, announced the intent to undertake a review of strategic alternatives with the goal of maximizing value for all WWE shareholders. There can be no assurances given regarding the outcome or timing of this strategic alternatives review process. Digital video views increased 56% to 6.7 billion and hours consumed increased 69% to 243 million across digital and social media platforms 4 Digital video views increased 10% to a record 9.9 billion and hours consumed increased 15% to a record 374 million across digital and social media platforms 3 We are absolutely exploring the Metaverse as an opportunity for WWE, especially as the theory unfolds that that's really where more and more people are going to go to connect and socialize. WWE is a community-based business and is all about our fans coming together and sharing this experience. We think there are huge opportunities to expand upon that in the Metaverse itself. In terms of our approach, we're doing our due diligence. We're meeting with various partners and learning as much as we can. We don't want to be hasty in this space. That being said, we certainly don't want to be behind, we always like to be slightly ahead of the curve. It is something we are actively involved in and investigating and looking into," Stephanie said.