Class B Common Stock

News Corporation

1211 Avenue of the Americas, New York, NY, 10036

This Schedule 13D is being filed by MFT SH Family Trust, EM 2025 Family Trust and MacLeod Family Discretionary Trust (each a "Reporting Person" and collectively, the "Reporting Persons").

Please refer to Notification Information for the contact information of each of the Reporting Persons' Trustees.

Each Reporting Person holds assets for investment purposes.

Not Applicable

Each Reporting Person is a Nevada trust.

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Each of the Reporting Persons is a trust established by the trustee of the Murdoch Family Trust (the "MFT") for the benefit of each of Prudence MacLeod, Elisabeth Murdoch and James Murdoch and his or her respective descendants and charitable organizations. On September 6, 2025, the MFT transferred (i) approximately 50% of the shares of Class A common stock of the Issuer ("Class A Shares") and 50% of the Class B Shares held by the MFT to the Reporting Persons and (ii) the remaining Class A Shares and Class B Shares held by the MFT to three trusts, one for the benefit of each of Lachlan K. Murdoch, Grace Murdoch and Chloe Murdoch and their respective descendants and charitable organizations. On September 10, 2025, the Reporting Persons completed the sale of (i) 14,071,293 Class B Shares in an underwritten offering (the "Underwritten Offering") for an aggregate sales price of approximately $450 million and (ii) 7,125 Class A Shares and 24,256,641 Class B Shares, along with 9,498 shares of Class A common stock and 34,268,895 shares of Class B common stock of Fox Corporation, in a series of transactions which resulted in LGC Holdco LLC acquiring all of such shares, for an aggregate purchase price of approximately $1,990 million (the "Purchase"). As a result of the Underwritten Offering and the Purchase, none of the Reporting Persons have any interest, directly or indirectly, in the Issuer.

Not applicable.

September 10, 2025.