Fox Corp

Enhancements to Political Activities Report. In fiscal 2022, the Company published its inaugural Political Activities Report in response to stockholder feedback received. In fiscal 2023, in line with additional feedback received, the Company further enhanced the transparency of the report, which now also includes the membership dues the Company pays to trade associations in addition to the names of the associations. The Company's 2022 Political Activities Report is available on the Company's website at foxcorporation.com. [...] Political Activities. The Nominating and Corporate Governance Committee reviews and oversees compliance with the Company's Political Activities Policy and reviews and oversees its Political Activities Report. In direct response to stockholder feedback and as part of our efforts to promote transparency and accountability, in fiscal 2022, the Company adopted significant updates to its Political Activities Policy and enhanced its political activities disclosures by publishing its first annual Political Activities Report in February 2022. In fiscal 2023, in line with additional feedback received, the Company further enhanced the transparency of the report, which now also includes the membership dues the Company pays to trade associations in addition to the names of the associations. The Company updates the report on an annual basis. The policy and the Company's 2022 Political Activities Report are available on the Company's website at foxcorporation.com. FOX's Political Activities Policy reflects our commitment to ensuring that all FOX employees, officers and Directors comply with all laws and regulations that apply to political activities due to employment or association with FOX. The policy provides for Board oversight of the Company's political activities and the publication of the annual Political Activities Report, which confirms that fees paid to industry trade organizations are for membership dues and not earmarked for indirect grassroots lobbying. FOX's Political Activities Report outlines the Company's engagement efforts in the following areas of corporate political activity in 2022: - the names of all individual candidate and committee recipients and amounts contributed by the FOX Political Action Committee; - the names of all individual state and local candidate recipients and amounts contributed by FOX; - our total federal lobbying expenses of $3.8 million; - the federal public policy matters on which the Company lobbied; - our lobbying activities in the four states in which we engaged outside lobbying services; - the names of FOX executives and outside consulting firms that performed lobbying activities for us; and - our trade association memberships and annual dues and details of our contributions to certain non-profit organizations.

The Company's Board of Directors, through its Nominating and Corporate Governance Committee (the Committee) reviews and oversees compliance with this Policy. In addition, the Committee reviews and oversees a Political Activities Report prepared by the FOX Law & Policy office with details of the Company's political activities over the prior calendar year. A copy of the annual Political Activities Report can be found on the Company's website. The Political Activities Report focuses on four areas of prior year activity: contributions made by FOXPAC; corporate political contributions to state and local candidates; lobbying activities and expenditures by FOX; and the Company's participation in trade associations and contributions to non-profit entities. [...] Before seeking to influence any federal legislation, regulation, official agency actions, or nominations/appointments through communications or attending a meeting with any "covered official" – Member of Congress, staff member, or executive branch official – FOX employees, officers and board members must notify the FOX Government Relations office which will seek approval for the proposed activities from the Chief Legal and Policy Officer. [...] Similar to compliance with federal lobby laws, FOX employees, officers and board members must notify FOX Government Relations before conducting any lobbying activities at the state and local levels of government. [...] Such lobbying activities may not occur unless approved by FOX's Chief Legal and Policy Officer. FOX Government Relations is responsible for disclosing the lobbying activity of employees, officers and board members to relevant state and local governments.

The Nominating and Corporate Governance Committee reviews and oversees compliance with the Company's Political Activities Policy and reviews and oversees its Political Activities Report. In direct response to stockholder feedback and as part of our efforts to promote transparency and accountability, the Company adopted significant updates to its Political Activities Policy and enhanced its political activities disclosures by publishing its first annual Political Activities Report in February 2022. In fiscal 2023, in line with additional feedback received, the Company further enhanced the transparency of the report, which now also includes the membership dues the Company pays to trade associations in addition to the names of the associations. The Company updates the report on an annual basis. The policy and the Company's 2023 Political Activities Report are available on the Company's website at foxcorporation.com. FOX's Political Activities Policy reflects our commitment to ensuring that all FOX employees, officers and Directors comply with federal, state, and local laws that apply to political activities due to employment or association with FOX. The policy provides for Board oversight of the Company's political activities and the publication of the annual Political Activities Report, which confirms that fees paid to industry trade organizations are for membership dues and not earmarked for indirect grassroots lobbying.

- To review and oversee compliance with the Company's Political Activities Policy, including the annual Political Activities Report;

The Audit Committee of the Board of Directors has responsibility for reviewing the content and operation of FOX's business ethics and compliance program including anti-bribery and anti-corruption programs. The Chief Ethics and Compliance Officer reports to the Audit Committee and to senior management about existing compliance programs and proposed new initiatives. The Company has several operational compliance policies and programs, including a Global Anti-Bribery and Anti-Corruption Policy, an Insider Trading and Confidentiality Policy, a Political Activities Policy and a Global Sanctions, Anti-Boycott and Import/Export Policy. [...] Financial transactions involving government-related vendors must be reviewed and approved by, among others, the Chief Ethics and Compliance Officer. [...] Additionally, FOX publicly discloses its political activity on an annual basis. The 2022 report can be found on foxcorporation.com.