Entertainment Holdings II LLC - Mar 6, 2023 Form 3 Insider Report for Warner Music Group Corp. (WMG)

Role: 10%+ Owner
Signature: /s/ Alejandro Moreno for Entertainment Holdings II LLC
Stock symbol: WMG
Transactions as of: Mar 6, 2023
Transactions value $: $0
Form type: 3
Date filed: 3/16/2023, 07:28 AM

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
holding	WMG	Class B Common Stock							Mar 6, 2023	Class A Common Stock	125M		Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each share of Class B Common Stock is convertible at any time at the option of the holder into one share of Class A Common Stock and has no expiration date.
F2	The securities reported herein may be deemed to be beneficially owned by AI Entertainment Holdings LLC ("AIEH"), AIPH Holdings LLC ("AIPH"), Access Industries Holdings LLC ("AIH"), Access Industries, LLC ("AI"), Access Industries Management, LLC ("AIM") and Len Blavatnik because AIEH is the parent of Entertainment Holdings II LLC ("EH"), AIPH is the parent of AIEH, AIH controls a majority of the outstanding voting interests in AIPH, AI controls a majority of the outstanding voting interests in AIH, AIM controls AI and AIH, and Mr. Blavatnik is the controlling person of AIM and controls a majority of the outstanding voting interests in AI. Each of the foregoing (other than EH) disclaims beneficial ownership of these securities, except to the extent of its or his pecuniary interest therein, and this Form shall not be construed as an admission that any such person or entity is the beneficial owner of such securities.

Content

Each share of Class B Common Stock is convertible at any time at the option of the holder into one share of Class A Common Stock and has no expiration date.

The securities reported herein may be deemed to be beneficially owned by AI Entertainment Holdings LLC ("AIEH"), AIPH Holdings LLC ("AIPH"), Access Industries Holdings LLC ("AIH"), Access Industries, LLC ("AI"), Access Industries Management, LLC ("AIM") and Len Blavatnik because AIEH is the parent of Entertainment Holdings II LLC ("EH"), AIPH is the parent of AIEH, AIH controls a majority of the outstanding voting interests in AIPH, AI controls a majority of the outstanding voting interests in AIH, AIM controls AI and AIH, and Mr. Blavatnik is the controlling person of AIM and controls a majority of the outstanding voting interests in AI. Each of the foregoing (other than EH) disclaims beneficial ownership of these securities, except to the extent of its or his pecuniary interest therein, and this Form shall not be construed as an admission that any such person or entity is the beneficial owner of such securities.