Endeavor Group Holdings, Inc.

9601 Wilshire Boulevard, 3rd Floor

Beverly Hills, California 90210

April 25, 2024

Dear Fellow Stockholders:

On behalf of the Board of Directors, I invite you to attend the 2024 annual meeting of stockholders (the "Annual Meeting") of Endeavor Group Holdings, Inc., which will be held on Thursday, June 13, 2024 at 4:30 p.m. Eastern Time. The Annual Meeting will be a completely virtual meeting via live webcast.

In accordance with the Securities and Exchange Commission rules allowing companies to furnish proxy materials to their stockholders over the Internet, we have sent stockholders of record of our common stock with voting rights as of the close of business on April 19, 2024 a Notice of Internet Availability of Proxy Materials at the close of business on April 25, 2024. The notice contains instructions on how to access our Proxy Statement and Annual Report and vote online. If you would like to receive a printed copy of our proxy materials instead of downloading a printable version from the Internet, please follow the instructions for requesting such materials included in the notice, as well as in the attached Proxy Statement.

Attached to this letter are a Notice of Annual Meeting of Stockholders and Proxy Statement, which describe the business to be conducted at the Annual Meeting.

Your vote is important to us. Please act as soon as possible to vote your shares. It is important that your shares be represented at the meeting whether or not you plan to attend virtually. Please vote electronically over the Internet, by telephone or, if you receive a paper copy of the proxy card by mail, by returning your signed proxy card in the envelope provided. You may also vote your shares online during the Annual Meeting. Instructions on how to vote live while participating at the Annual Meeting are posted at www.virtualshareholdermeeting.com/EDR2024.

On behalf of the Board of Directors and management, it is my pleasure to express our appreciation for your continued support.

Ariel Emanuel, CEO, Endeavor

Endeavor Group Holdings, Inc.

9601 Wilshire Boulevard, 3rd Floor

Beverly Hills, California 90210

NOTICE OF ANNUAL MEETING OF STOCKHOLDERS TO BE HELD ON JUNE 13, 2024

NOTICE IS HEREBY GIVENthat the Annual Meeting of Stockholders of Endeavor Group Holdings, Inc., a Delaware corporation (the "Company"), will be held on Thursday, June 13, 2024, at 4:30 p.m. Eastern Time. The Annual Meeting will be a completely virtual meeting, which will be conducted via live webcast. You will be able to attend the Annual Meeting online and submit your questions during the meeting by visiting www.virtualshareholdermeeting.com/EDR2024. For instructions on how to attend and vote your shares at the Annual Meeting, see the information in the accompanying proxy statement (the "Proxy Statement") in the section titled "General Information about the Annual Meeting and Voting-How can I attend and vote at the Annual Meeting?"

The Annual Meeting is being held to:

1.   electAriel Emanuel, Egon Durban and Jacqueline Reses as Class III directors to hold office until the Company's annual meeting of stockholders to be held in 2027 and until their respective successors have been duly elected and qualified;

2.   ratifythe appointment of Deloitte & Touche LLP as the Company's independent registered public accounting firm for 2024; and

3.   transactsuch other business as may properly come before the Annual Meeting or any continuation, postponement or adjournment thereof.

These items of business are described in the Proxy Statement that follows this notice. Holders of record of our common stock with voting rights as of the close of business on April 19, 2024 are entitled to notice of and to vote at the Annual Meeting, or any continuation, postponement or adjournment thereof.

Your vote is important. Voting your shares will ensure the presence of a quorum at the Annual Meeting and will save us the expense of further solicitation. Please promptly vote your shares by following the instructions for voting on the Notice Regarding the Availability of Proxy Materials or, if you received a paper or electronic copy of our proxy materials, by completing, signing, dating and returning your proxy card or by Internet or telephone voting as described on your proxy card.

This Notice of Annual Meeting and Proxy Statement are first being distributed or made available, as the case may be, on or about April 25, 2024.

Important Notice Regarding the Availability of Proxy Materials for the Stockholder Meeting. This Proxy Statement and our Annual Report are available free of charge at www.proxyvote.com.

TABLE OF CONTENTS

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PROXY STATEMENT

FOR THE ANNUAL MEETING OF STOCKHOLDERS

TO BE HELD ON JUNE 13, 2024

This proxy statement (the "Proxy Statement") and our annual report for the fiscal year ended December 31, 2023 (the "Annual Report" and, together with the Proxy Statement, the "proxy materials") are being furnished by and on behalf of the Governing Body of Endeavor Group Holdings, Inc. (the "Company," "Endeavor," "we," "us," or "our"), in connection with our 2024 annual meeting of stockholders (the "Annual Meeting"). This Notice of Annual Meeting and Proxy Statement are first being distributed or made available, as the case may be, on or about April 25, 2024.

Certain Defined Terms

As used in this Proxy Statement, unless the context otherwise requires:

"Board" or "Board of Directors" refers to all of those serving as directors of the Company.

"Endeavor Group Holdings" refers to Endeavor Group Holdings, Inc.

"Endeavor Manager" refers to Endeavor Manager, LLC, a Delaware limited liability company and a direct subsidiary of Endeavor Group Holdings following the reorganization transactions.

"Endeavor Manager Units" refers to the common interest units in Endeavor Manager.

"Endeavor Operating Company" refers to Endeavor Operating Company, LLC, a Delaware limited liability company and a direct subsidiary of Endeavor Manager and indirect subsidiary of Endeavor Group Holdings following the reorganization transactions.

"Endeavor Operating Company Units" refers to all of the existing equity interests in Endeavor Operating Company (other than the Endeavor Profits Units) that were reclassified into Endeavor Operating Company's non-votingcommon interest units upon the consummation of the reorganization transactions.

"Endeavor Profits Units" refers to the profits units of Endeavor Operating Company that are economically similar to stock options. Each Endeavor Profits Unit has a per unit hurdle price, which is economically similar to the exercise price of a stock option.

"Executive Committee" refers to the Company's Governing Body prior to a Triggering Event.

"Executive Holdcos" refers to Endeavor Executive Holdco, LLC, Endeavor Executive PIU Holdco, LLC, and Endeavor Executive II Holdco, LLC, each a management holding company, the equity owners of which include current and former senior officers, employees, or other service providers of Endeavor Operating Company, and which are controlled by Messrs. Emanuel and Whitesell.

"Governing Body" refers to the Company's governing body, which is exclusively vested with all of the powers of our Board (under applicable Delaware law) in the management of our business and affairs and that acts in lieu of our Board of Directors to the fullest extent permitted under Delaware law, Securities and Exchange Commission ("SEC") rules and the rules of the New York Stock Exchange ("NYSE"). Prior to a Triggering Event, the Executive Committee is the Governing Body and, any action by our Board of Directors requires the prior approval of the Executive Committee, except for matters that are required to be approved by the Audit Committee (or both the Executive Committee and the Audit Committee), or by a committee qualified to grant equity to persons subject to Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), for purposes of exempting transactions pursuant to Section 16b-3thereunder, or as required under Delaware law, SEC rules and NYSE rules.

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"Management Holdcos" refers to WME Holdco, LLC and certain other management holding companies, the equity owners of which include current and former senior officers, employees or other service providers of the Company.

"Other UFC Holders" refers to the other persons that held equity interests in UFC Parent and certain of their affiliates.

"Post-IPOTRA Holders" refers to certain of our pre-IPOinvestors and certain affiliates of our pre-IPOinvestors, including certain members of pre-IPOmanagement holding vehicles, and certain of the Other UFC Holders or their affiliates.

"reorganization transactions" refers to the internal reorganization completed in connection with our May 2021 initial public offering ("IPO"), following which Endeavor Group Holdings manages and operates the business and controls the strategic decisions and day-to-dayoperations of Endeavor Operating Company through Endeavor Manager and includes the operations of Endeavor Operating Company in its consolidated financial statements.

"Silver Lake Equityholders" refers to certain affiliates of Silver Lake that are our stockholders.

"TKO" refers to TKO Group Holdings, Inc., a consolidated subsidiary of the Company, which owns and operates the UFC and WWE.

"Triggering Event" refers to the earlier of (i) the date on which neither Messrs. Emanuel nor Whitesell is employed as our Chief Executive Officer or Executive Chairman and (ii) the date on which neither Messrs. Emanuel nor Whitesell own shares of our Class A common stock representing, and/or own securities representing the right to own (including Endeavor Profits Units), at least 25% of the shares of our Class A common stock and securities representing the right to own shares of our Class A common stock owned by Messrs. Emanuel and Whitesell, respectively, as of the completion of the IPO.

"UFC Parent" refers to Zuffa Parent LLC (n/k/a TKO Operating Company, LLC), which owns and operates the Ultimate Fighting Championship ("UFC"), the professional mixed martial arts organization.

"WWE" refers to World Wrestling Entertainment, Inc. (n/k/a World Wrestling Entertainment, LLC).

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GENERAL INFORMATION ABOUT THE ANNUAL MEETING AND VOTING

When and where will the Annual Meeting be held?

The Annual Meeting will be held on Thursday, June 13, 2024 at 4:30 p.m. Eastern Time. The Annual Meeting will be a completely virtual meeting, which will be conducted via live webcast. You will be able to attend the Annual Meeting online and submit your questions during the meeting by visiting www.virtualshareholdermeeting.com/EDR2024and entering your 16-digitcontrol number included in your Notice of Internet Availability of Proxy Materials, on your proxy card or on the instructions that accompanied your proxy materials. If you lose your 16-digitcontrol number, you may join the Annual Meeting as a "Guest" but you will not be able to vote, ask questions or access the list of stockholders as of the close of business on April 19, 2024 (the "Record Date").

What are the purposes of the Annual Meeting?

The purpose of the Annual Meeting is to vote on the following items described in this Proxy Statement:

Are there any matters to be voted on at the Annual Meeting that are not included in this Proxy Statement?

At the date this Proxy Statement went to press, we did not know of any matters to be properly presented at the Annual Meeting other than those referred to in this Proxy Statement. If other matters are properly presented at the meeting or any adjournment or postponement thereof for consideration, and you are a stockholder of record and have submitted a proxy card, the persons named in your proxy card will have the discretion to vote on those matters for you.

Why did I receive a notice in the mail regarding the Internet availability of proxy materials instead of a paper copy of proxy materials?

The rules of the SEC permit us to furnish proxy materials, including this Proxy Statement and the Annual Report, to our stockholders by providing access to such documents on the Internet instead of mailing printed copies. Stockholders will not receive paper copies of the proxy materials unless they request them. Instead, the Notice of Internet Availability of Proxy Materials (the "Notice and Access Card") provides instructions on how to access and review on the Internet all of the proxy materials. The Notice and Access Card also instructs you as to how to authorize, via the Internet or telephone, your proxy to vote your shares according to your voting instructions. If you would like to receive a paper or email copy of our proxy materials, you should follow the instructions for requesting such materials described in the Notice and Access Card.

What does it mean if I receive more than one Notice and Access Card or more than one set of proxy materials?

It means that your shares are held in more than one account at the transfer agent and/or with banks or brokers. Please vote all of your shares. To ensure that all of your shares are voted, for each Notice and Access Card or set of proxy materials, please submit your proxy by phone, via the Internet, or, if you received printed copies of the proxy materials, by signing, dating and returning the enclosed proxy card in the enclosed envelope.

Can I vote my shares by filling out and returning the Notice and Access Card?

No. The Notice and Access Card identifies the items to be voted on at the Annual Meeting, but you cannot vote by marking the Notice and Access Card and returning it. If you would like a paper proxy card, you

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should follow the instructions in the Notice and Access Card. The paper proxy card you receive will also provide instructions as to how to authorize via the Internet or telephone your proxy to vote your shares according to your voting instructions.

Alternatively, you can mark the paper proxy card with how you would like your shares voted, sign the proxy card and return it in the envelope provided.

Who is entitled to vote at the Annual Meeting?

Holders of record of shares of our Class A common stock, $0.00001 par value per share ("Class A common stock"), our Class X common stock, $0.00001 par value per share ("Class X common stock"), and our Class Y common stock, $0.00001 par value per share ("Class Y common stock," and together with our Class A common stock and Class X common stock, the "Common Stock"), as of the close of business on the Record Date will be entitled to notice of and to vote at the Annual Meeting and any continuation, postponement or adjournment thereof. At the close of business on the Record Date, there were 301,980,917 shares of our Class A common stock, 165,499,758 shares of our Class X common stock and 225,529,889 shares of our Class Y common stock issued and outstanding and entitled to vote. Each share of Class A common stock and Class X common stock is entitled to one vote, and each share of Class Y common stock is entitled to 20 votes on any matter presented to stockholders at the Annual Meeting. The holders of Class A common stock, Class X common stock and Class Y common stock will vote together as a single class on all matters to be presented to stockholders at the Annual Meeting.

You will need to obtain your own Internet access if you choose to attend the Annual Meeting online and/or vote over the Internet.

To attend and participate in the Annual Meeting, you will need the 16-digitcontrol number included in your Notice and Access Card, on your proxy card or on the instructions that accompanied your proxy materials. If your shares are held in "street name," you should contact your bank or broker to obtain your 16-digitcontrol number or otherwise vote through the bank or broker. If you lose your 16-digitcontrol number, you may join the Annual Meeting as a "Guest" but you will not be able to vote, ask questions or access the list of stockholders as of the Record Date. The Annual Meeting webcast will begin promptly at 4:30 p.m. Eastern Time. We encourage you to access the meeting prior to the start time. Online check-inwill begin at 4:15 p.m. Eastern Time, and you should allow ample time for the check-inprocedures.

What is the difference between being a "record holder" and holding shares in "street name"?

A record holder (also called a "registered holder") holds shares in his or her name. Shares held in "street name" means that shares are held in the name of a bank, broker or other nominee on the holder's behalf.

What do I do if my shares are held in "street name"?

If your shares are held in a brokerage account or by a bank or other holder of record, you are considered the "beneficial owner" of shares held in "street name." The Notice and Access Card or the proxy materials, if you elected to receive a hard copy, has been forwarded to you by your broker, bank or other nominee who is considered, with respect to those shares, the stockholder of record. As the beneficial owner, you have the right to direct your broker, bank or other holder of record on how to vote your shares by following their instructions for voting. Please refer to information from your bank, broker or other nominee on how to submit your voting instructions.

How many shares must be present to hold the Annual Meeting?

A quorum must be present at the Annual Meeting for any business to be conducted. The holders of a majority in voting power of the Company's capital stock issued and outstanding and entitled to vote, present in person, or by remote communication, or represented by proxy constitutes a quorum. If you sign and return your paper proxy card or authorize a proxy to vote electronically or telephonically, your shares will be counted to determine whether we have a quorum even if you abstain or fail to vote as indicated in the proxy materials.

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Broker non-voteswill also be considered present for the purpose of determining whether there is a quorum for the Annual Meeting.

What are "broker non-votes"?

A "broker non-vote"occurs when shares held by a broker in "street name" for a beneficial owner are not voted with respect to a proposal because (1) the broker has not received voting instructions from the stockholder who beneficially owns the shares and (2) the broker lacks the authority to vote the shares at their discretion.

Under current NYSE interpretations that govern broker non-votes,Proposal No. 1 is considered a "non-routine"matter, and a broker will lack the authority to vote uninstructed shares at their discretion on such proposals. Proposal No. 2 is considered a "routine" matter, and a broker will be permitted to exercise its discretion to vote uninstructed shares on this proposal.

What if a quorum is not present at the Annual Meeting?

If a quorum is not present or represented at the scheduled time of the Annual Meeting, (i) the chairperson of the Annual Meeting or (ii) a majority in voting power of the stockholders entitled to vote at the Annual Meeting, present in person, or by remote communication, as applicable, or represented by proxy, may adjourn the Annual Meeting until a quorum is present or represented.

How do I vote my shares without attending the Annual Meeting?

We recommend that stockholders vote by proxy even if they plan to attend the Annual Meeting and vote electronically. If you are a stockholder of record, there are three ways to vote by proxy:

Telephone and Internet voting facilities for stockholders of record will be available 24 hours a day and will close at 11:59 p.m., Eastern Time, on June 12, 2024.

If your shares are held in the name of a bank, broker or other holder of record, you will receive instructions on how to vote from the bank, broker or holder of record. You must follow the instructions of such bank, broker or holder of record in order for your shares to be voted.

How can I attend and vote at the Annual Meeting?

We will be hosting the Annual Meeting live via audio webcast. Any stockholder can attend the Annual Meeting live online at www.virtualshareholdermeeting.com/EDR2024. If you were a stockholder as of the Record Date, or you hold a valid proxy for the Annual Meeting, you can vote at the Annual Meeting. A summary of the information you need to attend the Annual Meeting online is provided below:

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To attend and participate in the Annual Meeting, you will need the 16-digitcontrol number included in your Notice and Access Card, on your proxy card or on the instructions that accompanied your proxy materials. If your shares are held in "street name," you should contact your bank or broker to obtain your 16-digitcontrol number or otherwise vote through the bank or broker. If you lose your 16-digitcontrol number, you may join the Annual Meeting as a "Guest" but you will not be able to vote, ask questions or access the list of stockholders as of the Record Date.

What if I have technical difficulties or trouble accessing the virtual meeting website during the check-intime or during the Annual Meeting?

We will have technicians ready to assist you with any technical difficulties you may have accessing the virtual meeting website. If you encounter any difficulties accessing the virtual meeting website during the check-inor meeting time, please call the technical support number that will be posted on the Annual Meeting login page.

Will I be able to ask questions at the Annual Meeting?

As part of the Annual Meeting, we will hold a live Q&A session, during which we intend to answer appropriate questions submitted during the meeting and that relate to the matters to be voted on. We intend to reserve up to ten minutes before the closing of the polls to address questions submitted. Only stockholders that have accessed the Annual Meeting as a stockholder (rather than a "Guest") by following the procedures outlined above in "How can I attend and vote at the Annual Meeting?" will be able to submit questions during the Annual Meeting. Additionally, our Annual Meeting will follow "Rules of Conduct," which will be available on our Annual Meeting webpage for stockholders that have accessed the Annual Meeting as a stockholder (rather than a "Guest"). Under these Rules of Conduct, a stockholder may ask up to two questions, and we will not address questions that are, among other things:

Additional information regarding the Q&A session will be available in the "Rules of Conduct" available on the Annual Meeting webpage for stockholders that have accessed the Annual Meeting as a stockholder (rather than a "Guest") by following the procedures outlined above in "How can I attend and vote at the Annual Meeting?"

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How does the Governing Body recommend that I vote?

The Governing Body recommends that you vote:

How many votes are required to approve each proposal?

The table below summarizes the proposals that will be voted on, the vote required to approve each item and how votes are counted:

What if I do not specify how my shares are to be voted?

If you submit a proxy but do not indicate any voting instructions, the persons named as proxies will vote in accordance with the recommendations of the Governing Body. The Governing Body's recommendations are set forth above, as well as with the description of each proposal in this Proxy Statement.

Who will count the votes?

Representatives of Broadridge Investor Communications Services ("Broadridge") will tabulate the votes, and a representative of Broadridge will act as inspector of election.

Can I revoke or change my vote after I submit my proxy?

Yes. Whether you have voted by Internet, telephone or mail, if you are a stockholder of record, you may change your vote and revoke your proxy by:

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If you hold shares in street name, you may submit new voting instructions by contacting your bank, broker or other nominee. You may also change your vote or revoke your proxy at the Annual Meeting if you obtain a signed proxy from the record holder (broker, bank or other nominee) giving you the right to vote the shares.

Your most recent proxy card or telephone or Internet proxy is the one that is counted. Your attendance at the Annual Meeting by itself will not revoke your proxy unless you give written notice of revocation to the Company before your proxy is voted or you vote at the Annual Meeting.

Who will pay for the cost of this proxy solicitation?

We will pay the cost of soliciting proxies. Proxies may be solicited on our behalf by directors, officers or employees (for no additional compensation) in person or by telephone, electronic transmission and facsimile transmission. Brokers and other nominees will be requested to solicit proxies or authorizations from beneficial owners and will be reimbursed for their reasonable expenses.

Why hold a virtual meeting?

We wish to continue to provide expanded access, improved communication and cost savings for our stockholders and the Company while providing stockholders the same rights and opportunities to participate as they would have at an in-personmeeting. Furthermore, as part of our effort to maintain a safe and healthy environment for our directors, members of management and stockholders who wish to attend the Annual Meeting, we believe that hosting a virtual meeting is in the best interest of the Company and its stockholders and enables increased stockholder attendance and participation because stockholders can participate in a virtual meeting from any location around the world.

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PROPOSAL NO. 1 ELECTION OF DIRECTORS

Board Size and Structure

Our amended and restated certificate of incorporation as currently in effect ("Certificate of Incorporation") provides that the total authorized number of directors constituting the entire Board shall not be less than three and not more than twenty (20) persons, with the number of directors established from time to time by our Governing Body. Our Governing Body has fixed the number of directors at seven, and we currently have seven directors serving on the Board.

Our Certificate of Incorporation provides that the Board be divided into three classes, designated as Class I, Class II and Class III. Each class must consist, as nearly as may be possible, of one-thirdof the total number of directors constituting the entire Board. Each class of directors must stand for re-electionno later than the third annual meeting of stockholders subsequent to their initial appointment or election to the Board, provided that the term of each director will continue until the election and qualification of his or her successor and is subject to his or her earlier death, resignation or removal.

Each director is to hold office until his or her successor is duly elected and qualified or until his or her earlier death, resignation or removal. Vacancies and newly created directorships on the Board of Directors may be filled at any time by the Executive Committee, prior to the Triggering Event, and thereafter by the remaining directors or the affirmative vote of the holders of a majority of the total voting power of the outstanding shares of capital stock entitled to vote generally in the election of directors; however, vacancies resulting from the loss of the Silver Lake Equityholders' right to nominate two directors to the Board of Directors or Executive Committee may be filled by a vote of the directors designated by Messrs. Emanuel and Whitesell and Executive Holdcos. In addition, upon the Triggering Event, vacancies on the Board of Directors may also be filled by the affirmative vote of a majority of the total voting power of our issued and outstanding common stock, voting together as a single class.

Pursuant to the Stockholders Agreement, the Executive Holdcos and the Silver Lake Equityholders have certain Board nomination rights. See "Certain Transactions with Related Persons - Stockholders Agreement." Messrs. Emanuel and Whitesell are the Executive Holdcos' director designees, and Messrs. Evans and Durban are the Silver Lake Equityholders' director designees.

Our Certificate of Incorporation provides that any director may be removed with or without cause by the affirmative vote of holders representing 66 2/3% of the total voting power of our issued and outstanding common stock, voting together as a single class. At any meeting of the Board of Directors, except as otherwise required by law, a majority of the total number of directors then in office will constitute a quorum for all purposes; provided, however, that, for so long as the Silver Lake Equityholders or any permitted Executive Holdcos, respectively, are entitled to nominate at least one director for election to our Board of Directors (or a committee thereof), the presence of a Silver Lake Equityholders nominee and the presence of an Executive Holdcos nominee, respectively, is required for a quorum at a meeting of the Board of Directors or such committee (subject in each case to customary adjournment provisions) and any action of our Board of Directors or such committee by written consent must include the consent of a Silver Lake Equityholders nominee or the consent of an Executive Holdcos nominee, respectively. In addition, prior to a Triggering Event, except as required by applicable law or the rules of the NYSE, actions of the Board of Directors may only be taken or made at the direction or request of the Executive Committee and following such direction or request, will require approval by the affirmative vote of (i) a majority of the directors or such committee at a meeting at which a quorum is present and (ii) for so long as any of the Silver Lake Equityholders are entitled to designate two or more directors for nomination to the Governing Body pursuant to the Stockholders Agreement and at least one Silver Lake Equityholder designee is serving on the Governing Body or is designated to serve within ten business days of a Silver Lake Equityholder designee ceasing to serve on the Governing Body, at least one director designated or nominated by the Silver Lake Equityholders.

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Current Directors and Terms

Our current directors and their respective classes and terms are set forth below.

Nominees for Director

Messrs. Emanuel and Durban and Ms. Reses have been nominated by the Governing Body to stand for election. As the directors assigned to Class III, each of Mr. Emanuel's, Mr. Durban's and Ms. Reses' current term of service will expire at the Annual Meeting. If elected by the stockholders at the Annual Meeting, Messrs. Emanuel and Durban and Ms. Reses will each serve for a term expiring at the annual meeting of stockholders to be held in 2027 (the "2027 Annual Meeting") and the election and qualification of her or his successor, or until her or his earlier death, resignation or removal.

Each person nominated for election has agreed to serve if elected, and management has no reason to believe that any nominee will be unable to serve. If, however, prior to the Annual Meeting, the Governing Body should learn that any nominee will be unable to serve for any reason, the proxies that otherwise would have been voted for this nominee will be voted for a substitute nominee as selected by the Governing Body. Alternatively, the proxies, at the Governing Body's discretion, may be voted for that fewer number of nominees as results from the inability of any nominee to serve. The Governing Body has no reason to believe that any of the nominees will be unable to serve. Proxies cannot be voted for a greater number of persons than the number of nominees named in this proposal.

Information About Board Nominees and Continuing Directors

The following pages contain certain biographical information as of April 25, 2024 for each nominee for director and each director whose term as a director will continue after the Annual Meeting, including all positions she or he holds, her or his principal occupation and business experience for the past five years, and the names of other publicly-held companies of which the director or nominee currently serves as a director or has served as a director during the past five years.

We believe that all of our directors and nominees: display personal and professional integrity; satisfactory levels of education and/or business experience; broad-based business acumen; an appropriate level of understanding of our business and its industry and other industries relevant to our business; the ability and willingness to devote adequate time to the work of our Board of Directors and its committees; skills and personality that complement those of our other directors that helps build a board that is effective, collegial and responsive to the needs of our Company; strategic thinking and a willingness to share ideas; a diversity of experiences, expertise and background; and the ability to represent the interests of all of our stockholders. The information presented below regarding each nominee and continuing director also sets forth specific experience, qualifications, attributes and skills that led our Board of Directors to the conclusion that such individual should serve as a director in light of our business and structure.

For purposes of the biographical information regarding our directors, the terms, "we," "us," "our," "Endeavor," the "Company," and similar references refer (a) after giving effect to the reorganization transactions effected at the time of our IPO, to Endeavor Group Holdings, Inc. and (b) prior to giving effect to such reorganization transactions, to Endeavor Operating Company and/or its consolidated subsidiaries.

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Class I Directors Whose Terms Expire at the 2025 Annual Meeting

Stephen Evans became a director of the Company in May 2014. Mr. Evans is a Managing Director of Silver Lake, a global technology investment firm. Prior to joining Silver Lake in 2008, Mr. Evans was a Principal at Cognetas, a pan-Europeanprivate equity firm. Previously, Mr. Evans spent five years at Bain & Company, based both in Europe and the United States. Mr. Evans is a director of Ambassador Theatre Group (ATG), Australian Professional Leagues (APL), Diamond Baseball Holdings, Equinox, Integrity Marketing Group, Michael Cassel Group, New Zealand Rugby Commercial, TEG and Thrasio, and is a member of the audit committee at City Football Group. Mr. Evans previously served on the boards of Ancestry, Learfield and Serena Software. Mr. Evans holds an M.A. and an M.Phil. from Cambridge University and an M.B.A. from Harvard Business School. Mr. Evans was selected to serve on our Board of Directors because he provides valuable insight on strategic and business matters, stemming from his extensive executive and management experience.

Fawn Weaverbecame a director of the Company in April 2021. Ms. Weaver is the founder and has served as the Chief Executive Officer of Uncle Nearest, Inc. since October 2016. Ms. Weaver also serves as the Chief Executive Officer of Grant Sidney, Inc. since March 2010. Ms. Weaver is also the founder and chairman of the Nearest Green Foundation and served as an Executive Board Member of Meet Each Need with Dignity and Slavery No More from January 2014 to December 2019. Ms. Weaver was selected to serve on our Board of Directors because of her experience as a chief executive officer and her business acumen.

Class II Director Whose Terms Expire at the 2026 Annual Meeting

Patrick Whitesell is the Executive Chairman of the Company and has served in that position since October 2017. He has also served as a director of the Company since June 2009. He previously served as the Co-ChiefExecutive Officer of the Company since July 2014 and as Co-ChiefExecutive Officer of William Morris Endeavor Entertainment, LLC since June 2009. Mr. Whitesell currently serves on the board of directors of Under Armour, Inc. (NYSE) and Learfield. Mr. Whitesell is a graduate of Luther College. Mr. Whitesell was selected to serve on our Board of Directors because of his experience and knowledge of the entertainment industry, including as our Executive Chairman.

Ursula Burns became a director of the Company in July 2021. In April 2021, Ms. Burns co-foundedIntegrum Holdings LP, an investment firm focused on partnering with technology-enabled services companies. Previously, she was Chairman of VEON Ltd., an international telecommunications and technology company, from 2017 to 2020, during which time she served as Executive Chairman from March 2018 to December 2018, and was Chief Executive Officer from 2018 to 2020. Ms. Burns was Chairman of Xerox Corporation from 2009 to 2017 and Chief Executive Officer from 2009 to 2016, prior to which she advanced through many engineering and management positions after joining the company in 1980. U.S. President Barack Obama appointed Ms. Burns to help lead the White House national program on Science, Technology, Engineering and Math (STEM) from 2009 to 2016, and she served as chair of the President's Export Council from 2015 to 2016 after serving as vice chair from 2010 to 2015. Ms. Burns currently serves on the board of directors of Uber Technologies, Inc. and IHS Holdings Limited. She previously served on the board of directors of Exxon Mobil Corporation from November 2012 to May 2023, Plum Acquisition Corp. I from February 2021 to July 2023, American Express Company from 2004 to 2018, Nestle S.A. from 2017 to April 2021, VEON Ltd. from 2017 to

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2020, and Xerox Corporation from 2007 to 2017. Ms. Burns was selected to serve on our Board due to her extensive corporate leadership roles at large international companies, depth and breadth of experience on serving on public company boards and her financial, technology and governance expertise.

Class III Director Nominees for Election to a Three Year Term Expiring at the 2027 Annual Meeting

Ariel Emanuelis the Chief Executive Officer of the Company and has served in that position since October 2017. He has also served as a director of the Company since June 2009. Mr. Emanuel is also Chief Executive Officer of TKO Group Holdings, Inc. (NYSE: TKO), a premium sports and entertainment company comprising UFC and WWE, and became a director of TKO in September 2023 and its Executive Chair in February 2024. TKO is majority owned and controlled by Endeavor. He previously served as the Co-ChiefExecutive Officer of the Company since July 2014 and as Co-ChiefExecutive Officer of William Morris Endeavor Entertainment, LLC since 2009. Mr. Emanuel previously served on the board of directors of ContextLogic Inc. (d/b/a Wish) (Nasdaq) and Live Nation Entertainment, Inc. (NYSE). Mr. Emanuel is a graduate of Macalester College. Mr. Emanuel was selected to serve on our Board of Directors because of his experience and knowledge of the entertainment industry, including as our Chief Executive Officer.

Egon P. Durban became a director of the Company in May 2012 and became the Chairman of the Board of Directors of the Company in May 2014. Mr. Durban has served as Co-ChiefExecutive Officer of Silver Lake, a global technology investment firm, since December 2019. Mr. Durban joined Silver Lake in 1999 as a founding principal and is based in the firm's Menlo Park office. He serves on the boards of directors of City Football Group, Dell Technologies Inc. (NYSE), Group 42, Motorola Solutions, Inc. (NYSE), Qualtrics, TKO Group Holdings, Inc. (NYSE), Unity Software Inc. (NYSE), Verily and Waymo. Previously, he served on the board of Skype, and was Chairman of its operating committee, served on the supervisory board and operating committee of NXP, and served on the boards of MultiPlan, Pivotal Software, Inc. (NYSE), SecureWorks Corp. (Nasdaq), Twitter Inc., formerly a public company, and VMware, Inc. (NYSE). Prior to Silver Lake, Mr. Durban worked in Morgan Stanley's Investment Banking Division. Mr. Durban graduated from Georgetown University with a B.S.B.A. in Finance. Mr. Durban was selected to serve as a director because of his strong experience in technology and finance, and his extensive knowledge of and years of experience in global strategic leadership and management of multiple companies.

Jacqueline D. Reses became a director of the Company in August 2021. Ms. Reses currently serves as the Chief Executive Officer and Chairwoman of the Board of Lead Bank, a commercial bank focused on technology enabled banking products. Ms. Reses previously served as Executive Chairperson of Square Financial Services LLC, and Capital Lead at Block, Inc. (NYSE), a publicly traded financial services company, from October 2015 to October 2020. From February 2016 to July 2018, she also served as people lead at Block, Inc. From September 2012 to October 2015, Ms. Reses served as Chief Development Officer for Yahoo! Inc. Prior to Yahoo, Ms. Reses served as Partner and head of the U.S. media group at Apax Partners Worldwide LLP, which she joined in 2001. Ms. Reses currently serves on the board of directors of Affirm Holdings, Inc. (Nasdaq), Nu Holdings Ltd. (Nubank) (NYSE) and TaskUs, Inc. (Nasdaq). Ms. Reses previously served on the board of directors of ContextLogic Inc. (Nasdaq) (as Executive Chair), Alibaba Group Holdings Limited (Nasdaq), and Social Capital Hedosophia Holdings Corp. I, Social Capital Hedosophia Holdings Corp. III and Pershing Square Tontine Holdings, Ltd., each of which is a former public special purpose acquisition company. Ms. Reses received a bachelor's degree in economics with honors from the Wharton School of the University of Pennsylvania. Ms. Reses was selected to serve on our Board of Directors because of her various senior level roles at multinational companies and service on other public company boards.

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Governing Body Recommendation

The Governing Body unanimously recommends a vote FOR the election of Messrs. Emanuel and Durban and Ms. Reses as Class III directors to hold office until the 2027 Annual Meeting and until their respective successors have been duly elected and qualified.

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PROPOSAL NO. 2-RATIFICATION OF APPOINTMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

Appointment of Independent Registered Public Accounting Firm

The audit committee appoints our independent registered public accounting firm. In this regard, the audit committee evaluates the qualifications, performance and independence of our independent registered public accounting firm and determines whether to re-engageour current firm. As part of its evaluation, the audit committee considers, among other factors, the quality and efficiency of the services provided by the firm, including the performance, technical expertise, industry knowledge and experience of the lead audit partner and the audit team assigned to our account; the overall strength and reputation of the firm; the firm's global capabilities relative to our business; and the firm's knowledge of our operations. Deloitte & Touche LLP has served as our independent registered public accounting firm since 2014. Neither the accounting firm nor any of its members has any direct or indirect financial interest in or any connection with us in any capacity other than as our auditors and providing audit and permissible non-auditrelated services. Upon consideration of these and other factors, the audit committee has appointed Deloitte & Touche LLP to serve as our independent registered public accounting firm for the year ending December 31, 2024.

Although ratification is not required by our bylaws or otherwise, the Governing Body is submitting the selection of Deloitte & Touche LLP to our stockholders for ratification because we value our stockholders' views on the Company's independent registered public accounting firm and it is a good corporate governance practice. If our stockholders do not ratify the selection, it will be considered as notice to the Governing Body and the audit committee to consider the selection of a different firm. Even if the selection is ratified, the audit committee, in its discretion, may select a different independent registered public accounting firm at any time during the year if it determines that such a change would be in the best interests of the Company and its stockholders.

Representatives of Deloitte & Touche LLP are expected to attend the Annual Meeting and to have an opportunity to make a statement and be available to respond to appropriate questions from stockholders.

Audit, Audit-Related, Tax and All Other Fees

The following table presents aggregate fees billed to us for the years ended December 31, 2023 and 2022 by our independent registered public accounting firm, Deloitte & Touche LLP, the member firms of Deloitte Touche Tohmatsu Limited, and their respective affiliates:

The Audit Fees listed above for 2023 and 2022 were billed in connection with the integrated audit of our annual consolidated financial statements included in our Annual Report on Form 10-K,the reviews of our interim consolidated financial statements included in our quarterly reports on Form 10-Q,and audits of our subsidiaries.

Audit Related Fees listed above for 2023 were billed for professional services related to our acquisition of WWE, merger and acquisition due diligence services, registration statements of the Company and subsidiaries, and agreed upon procedures engagements. Audit Related Fees listed above for 2022 were billed for professional

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services related to merger and acquisition due diligence services, our resale and shelf registration statements on Form S-3,and agreed upon procedures engagements.

The Tax Fees listed above for 2023 and 2022 were billed for tax compliance and advice.

Pre-ApprovalPolicies and Procedures

The formal written charter for our audit committee requires that the audit committee pre-approveall audit services to be provided to us and all other services (review, attest and non-audit)to be provided to us by our independent registered public accounting firm, other than de minimis non-auditservices approved in accordance with applicable SEC rules.

The audit committee has adopted a policy (the "Pre-ApprovalPolicy") that sets forth the procedures and conditions pursuant to which audit and non-auditservices proposed to be performed by our independent registered public accounting firm may be pre-approved.The Pre-ApprovalPolicy generally provides that the audit committee will not engage our independent registered public accounting firm to render any audit, audit-related, tax or permissible non-auditservice unless the service is either (i) explicitly approved by the audit committee ("specific pre-approval")or(ii) entered into pursuant to the pre-approvalpolicies and procedures described in the Pre-ApprovalPolicy ("general pre-approval").Unless a type of service to be provided by our independent registered public accounting firm has received general pre-approvalunder the Pre-ApprovalPolicy, it requires specific pre-approvalby the audit committee or by a designated member of the audit committee to whom the committee has delegated the authority to grant pre-approvals.The chairperson of the audit committee, to whom the audit committee has delegated authority to make pre-approvaldecisions requested between meetings of the audit committee, must report any such pre-approvaldecisions to the audit committee at its next scheduled meeting. If circumstances arise where it becomes necessary to engage the independent registered public accounting firm for additional services not contemplated in the original pre-approvalcategories or above the pre-approvedamounts, the audit committee requires pre-approvalfor such additional services or such additional amounts. Any proposed services exceeding pre-approvedcost levels or budgeted amounts will also require specific pre-approval.For both types of pre-approval,the audit committee will consider whether such services are consistent with the SEC's rules on auditor independence.

Under our Pre-ApprovalPolicy, any fees incurred by TKO Group Holdings, Inc. and its subsidiaries (collectively, "TKO") in connection with the provision of services (including, without limitation, any audit, audit-related, tax or other non-auditservice) performed by the principal independent auditor for TKO Group Holdings, Inc. are subject to TKO Group Holdings, Inc.'s policy regarding the pre-approvalof audit and non-auditservices provided by its independent auditor in effect at the time of such approval (the "TKO Policy"). Any approval by the audit committee of TKO Group Holdings, Inc. pursuant to the TKO Policy is deemed pre-approvedby our audit committee under our Pre-ApprovalPolicy.

The above-described services provided to us by our independent registered public accounting firm were provided in accordance with such policies.

Governing Body Recommendation

The Governing Body unanimously recommends a vote FOR the ratification of the appointment of Deloitte & Touche LLP as our independent registered public accounting firm for 2024.

Audit Committee Report

The audit committee operates pursuant to a charter which is reviewed annually by the audit committee. Additionally, a brief description of the primary responsibilities of the audit committee is included in this Proxy Statement under the discussion of "Corporate Governance-Audit Committee." Under the audit committee charter, management is responsible for the preparation, presentation and integrity of the Company's financial statements, the application of accounting and financial reporting principles and our internal controls and

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procedures designed to assure compliance with accounting standards and applicable laws and regulations. The independent registered public accounting firm is responsible for auditing our financial statements and expressing an opinion as to their conformity with accounting principles generally accepted in the United States.

In the performance of its oversight function, the audit committee reviewed and discussed with management and Deloitte & Touche LLP, as the Company's independent registered public accounting firm, the Company's audited financial statements for the fiscal year ended December 31, 2023. The audit committee also discussed with the Company's independent registered public accounting firm the matters required to be discussed by applicable standards of the Public Company Accounting Oversight Board (the "PCAOB") and the SEC. In addition, the audit committee received and reviewed the written disclosures and the letters from the Company's independent registered public accounting firm required by applicable requirements of the PCAOB regarding such independent registered public accounting firm's communications with the audit committee concerning independence, and discussed with the Company's independent registered public accounting firm their independence from the Company.

Based upon the review and discussions described in the preceding paragraph, the audit committee recommended to the Governing Body that the Company's audited financial statements be included in its Annual Report on Form 10-Kfor the fiscal year ended December 31, 2023 filed with the SEC.

Submitted by the Audit Committee of the Company's Board of Directors:

Jacqueline D. Reses (Chair)

Ursula Burns

Fawn Weaver

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EXECUTIVE OFFICERS

The table below identifies and sets forth certain biographical and other information regarding our executive officers as of April 25, 2024. There are no family relationships among any of our executive officers or directors.

See pages 11 - 12 of this Proxy Statement for Ariel Emanuel's and Patrick Whitesell's biographies.

Mark Shapirois the President and Chief Operating Officer of the Company. He has served as President and Chief Operating Officer since April 2023 and as President since December 2018. He is also the President and Chief Operating Officer of TKO Group Holdings, Inc. (NYSE), a premium sports and entertainment company comprising UFC and WWE and became a director of TKO in September 2023. TKO is majority owned and controlled by Endeavor. Mr. Shapiro previously served as the Co-Presidentof the Company from November 2016 to December 2018 and as Chief Content Officer of the Company from September 2014 to November 2016. Prior to that, Mr. Shapiro served in various executive positions at Dick Clark Productions from May 2010 to September 2014, including as Chief Executive Officer and as Executive Producer. From February 2006 through May 2010, he served as a Director, President and Chief Executive Officer of Six Flags Entertainment Corporation (NYSE) and worked for ESPN as Senior Vice President, and later Executive Vice President of Programming and Production from 2002 to May 2005. Mr. Shapiro currently serves as a member of the board of trustees of Equity Residential (NYSE) and as the Chairman of Captivate Network. Mr. Shapiro previously served as a member of the board of directors of Live Nation Entertainment, Inc. (NYSE), Frontier Communications Corporation (Nasdaq), Papa Johns International, Inc. (Nasdaq) and Bright Lights Acquisition Corp., formerly a public special purpose acquisition company. Mr. Shapiro is a graduate of the University of Iowa.

Jason Lublinis the Chief Financial Officer of the Company and has served in that position since January 2017. He previously served as the Chief Operating Officer of the Company since July 2014 and as Chief Operating Officer of William Morris Endeavor Entertainment, LLC since December 2013. Prior to that, Mr. Lublin served as the Chief Financial Officer of The Endeavor Agency, L.L.C. since joining in 2007 until December 2013. He currently serves on the board of directors of Learfield and previously held the position of President of IMG College. He has previously worked for Broadband Sports, Coopers & Lybrand, Plan Ahead LLC and Rexford Funding. Mr. Lublin is a graduate of the University of Wisconsin-Madison and obtained his Masters in Business Administration from the University of Southern California.

Seth Kraussis the Chief Administrative Officer & Senior Counsel to the Board of Directors and Senior Management of the Company and has served in that position since January 2024. Prior to this, Mr. Krauss served as the Company's Chief Legal Officer from June 2014 until October 2023, and as Chief Legal and Administrative Officer from October 2023 to December 2023. Mr. Krauss is also the Chief Legal and Administrative Officer of TKO Group Holdings, Inc. (NYSE), a premium sports and entertainment company comprising UFC and WWE. TKO is majority owned and controlled by Endeavor. From March 2007 to June 2014, he served as the Executive Vice President and General Counsel of Take Two Interactive Software Inc. (Nasdaq). From March 2004 through March 2007, he served in the Legal and Compliance Division of Morgan

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Stanley, first as Vice President and Counsel and then as Executive Director and Counsel. From 1995 until joining Morgan Stanley in March 2004, Mr. Krauss served as an Assistant District Attorney and Senior Investigative Counsel in the New York County District Attorney's Office. Mr. Krauss currently serves as a member of the board of directors of the Minority Corporate Counsel Association. He previously served as a member of the board of directors of the Center for Family Representation and as a member of the board of trustees of Duke University in Durham, North Carolina. Mr. Krauss graduated with a Bachelor of Arts both in History and in Political Science from Duke University and a Juris Doctor from the Washington University in St. Louis School of Law.

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CORPORATE GOVERNANCE

Governing Body

Prior to a Triggering Event, our Executive Committee, as the Governing Body, is exclusively vested with all of the powers of our Board of Directors (under applicable Delaware law) in the management of our business and affairs and acts in lieu of our Board of Directors to the fullest extent permitted under Delaware law, SEC rules and the rules of the NYSE.

Messrs. Emanuel, Whitesell, Durban, and Evans are the members of our Executive Committee.

Our Executive Committee has delegated to a sub-committeethereof comprised of Messrs. Emanuel and Whitesell, our Chief Executive Officer and a member of our Board of Directors and our Executive Chairman and a member of our Board of Directors, respectively, the authority to manage the business of the Company. Such sub-committeehas the power and authority to approve any actions of the Company, except for certain specified actions that require the approval of the Executive Committee and as required under Delaware law, SEC rules and the rules of the NYSE. Actions requiring approval of the Executive Committee include, among others, issuances of equity securities by the Company (other than pursuant to the 2021 Incentive Award Plan, subject to certain exceptions), the liquidation, dissolution, or winding up of the Company, any sale or merger of the Company, payment of dividends (other than tax distributions), certain related party transactions, material changes to tax elections, repurchases of the Company's equity securities, any termination or amendment of the employment arrangements of Messrs. Emanuel and Whitesell, and acquisitions, dispositions, extraordinary operating expenses, extraordinary capital expenditures, or incurrence of new indebtedness above specified thresholds. For so long as any of the Silver Lake Equityholders are entitled to designate two or more members of the Executive Committee and there is at least one Silver Lake Equityholder nominee who is then a member of the Executive Committee or is designated to serve within ten business days of a Silver Lake Equityholder designee ceasing to serve on the Governing Body, actions by the Executive Committee will require the approval of at least one of the Silver Lake Equityholders' designees. In addition, all actions by the Executive Committee require the approval of each of Messrs. Emanuel and Whitesell, so long as they are the applicable Executive Holdcos' designees. Messrs. Emanuel and Whitesell also, as a subcommittee of the Executive Committee, have responsibility for approving equity awards to persons not subject to Section 16 of the Exchange Act and approving compensation to certain members of our executive team (excluding themselves), subject to certain exceptions.

Actions taken by the Executive Committee and actions taken by Messrs. Emanuel and Whitesell pursuant to the authority delegated to them by the Executive Committee remain subject to a director's or officer's, as applicable, fiduciary duties under Delaware law and the requirement to act in the best interests of the Company and its stockholders.

Corporate Governance Guidelines

Our Governing Body has adopted Corporate Governance Guidelines. A copy of these Corporate Governance Guidelines can be found in the "Corporate Governance-Governance Documents" section of the "Investors" page of our website located at www.endeavorco.com, or by writing to our Secretary at our offices at 9601 Wilshire Boulevard, 3rd Floor, Beverly Hills, CA 90210. Among the topics addressed in our Corporate Governance Guidelines are:

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Board Leadership Structure

Our Corporate Governance Guidelines provide our Governing Body with flexibility to combine or separate the positions of Chairperson of the Board and Chief Executive Officer in accordance with its determination that utilizing one or the other structure would be in the best interests of the Company and its stockholders. If the Chairperson of the Board is a member of management or does not otherwise qualify as independent, our Corporate Governance Guidelines provide that the independent directors of the Board may appoint a lead independent director (the "Lead Director"). The Lead Director's responsibilities include, but are not limited to: presiding over all meetings of the Board at which the Chairperson of the Board is not present, including any executive sessions of the independent directors; approving Board meeting schedules and agendas; and acting as the liaison between the independent directors and the Chief Executive Officer and Chairperson of the Board. Our Corporate Governance Guidelines provide that, at such times as the Chairperson of the Board qualifies as independent, the Chairperson of the Board will serve as Lead Director.

The positions of our Chairman of the Board and our Chief Executive Officer are currently served by two separate persons. Mr. Durban serves as the Chairman of the Board and Mr. Emanuel serves as our Chief Executive Officer. Additionally, Mr. Whitesell serves as Executive Chairman.

The Governing Body believes that our current leadership structure of Chief Executive Officer and Chairman of the Board being held by two separate individuals is in the best interests of the Company and its stockholders and strikes the appropriate balance between the Chief Executive Officer's responsibility for the strategic direction, day-today-leadershipand performance of our Company and the Chairman of the Board's responsibility to guide overall strategic direction of our Company and provide oversight of our corporate governance and guidance to our Chief Executive Officer and to set the agenda for and preside over Board meetings. We recognize that different leadership structures may be appropriate for companies in different situations, and that the appropriate leadership structure may vary based on several factors, such as a company's size, industry, operations, history and culture. We believe that no one structure is suitable for all companies. Accordingly, the Governing Body will continue to periodically review our leadership structure in light of these factors and the then-current environment and make such changes in the future as it deems appropriate and in the best interests of the Company and its stockholders.

Controlled Company Exemption

Because Messrs. Emanuel and Whitesell, Executive Holdcos and the Silver Lake Equityholders control, as a group, more than 50% of our combined voting power for the election of directors, we are considered a "controlled company" for the purposes of the NYSE's rules and corporate governance standards. As a "controlled company," we are permitted to and have elected not to comply with certain corporate governance requirements of the NYSE, including those that would otherwise require our Board of Directors to have a majority of independent directors and require that we establish a Compensation Committee and a Nominating and Corporate Governance Committee, each comprised entirely of independent directors.

Director Independence

Under our Corporate Governance Guidelines and the NYSE rules, a director is not independent unless the Governing Body affirmatively determines that he or she does not have a direct or indirect material relationship with us or any of our subsidiaries. In addition, the director must meet the bright-line tests for independence set forth by the NYSE rules.

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Our Governing Body has undertaken a review of its composition, the composition of its committees and the independence of our directors and considered whether any director has a material relationship with us that could compromise his or her ability to exercise independent judgment in carrying out his or her responsibilities. Based upon information requested from and provided by each director concerning his or her background, employment and affiliations, including family relationships, our Governing Body has determined that none of Ms. Burns, Ms. Reses and Ms. Weaver, representing three of our seven directors, has a relationship that would interfere with the exercise of independent judgment in carrying out the responsibilities of a director and that each of these directors qualifies as "independent" as that term is defined under the rules of the NYSE. In making these determinations, our Governing Body considered the relationships that each non-employeedirector has with us and all other facts and circumstances our Board of Directors deemed relevant in determining their independence, including the director's beneficial ownership of our common stock and the relationships of our non-employeedirectors with certain of our significant stockholders.

Board Committees

Our Board of Directors has two standing committees: an Audit Committee and a 16b-3Committee, each of which has the composition and the responsibilities described below. In addition, from time to time, special committees may be established under the direction of our Governing Body when necessary to address specific issues. Each of the Audit Committee and the 16b-3Committee operates under a written charter.

Audit Committee

Our Audit Committee oversees our corporate accounting and financial reporting process and assists our Executive Committee in its oversight of (i) the quality and integrity of the Company's financial statements; (ii) the Company's compliance with legal and regulatory requirements; (iii) the independent auditor's qualifications, performance and independence; and (iv) the design and implementation of the Company's internal audit function and the performance of the Company's internal audit function. Our Audit Committee is responsible for, among other things:

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The Audit Committee has the authority to delegate its responsibilities under its charter to one or more subcommittees as it deems appropriate from time to time. The Audit Committee has the authority to engage independent legal, accounting and other advisors as it deems necessary or appropriate to assist in carrying out its responsibilities, and we must pay the compensation of such advisors.

Our Audit Committee currently consists of Ms. Burns, Ms. Reses and Ms. Weaver, with Ms. Reses serving as chair. All members of our Audit Committee meet the requirements for financial literacy under the applicable rules and regulations of the NYSE. Our Governing Body has affirmatively determined that each of Ms. Burns, Ms. Reses and Ms. Weaver qualifies as "independent" under NYSE's additional standards applicable to audit committee members and Rule 10A-3of the Exchange Act. In addition, our Governing Body has determined that each of Ms. Burns and Ms. Reses qualifies as an "audit committee financial expert," as such term is defined in Item 407(d)(5) of Regulation S-K.

16b-3Committee

Our 16b-3Committee reviews and approves transactions involving equity securities of the Company between the Company and its directors and officers subject to Section 16 of the Exchange Act for purpose of exempting such transactions under Rule 16b-3thereunder.

Our 16b-3committee currently consists of Ms. Reses and Ms. Weaver. Our Governing Body has determined that each of Ms. Reses and Weaver qualifies as a "non-employeedirector" as defined in Section 16b-3of the Exchange Act.

The 16b-3committee has the authority to retain or obtain the advice of advisors to assist in carrying out its responsibilities. The 16b-3committee is empowered to cause the Company to pay the compensation of such advisors as established by the committee.

Board of Directors, Governing Body and Committee Meetings and Attendance

During fiscal year 2023, our Board of Directors met four times, the Governing Body met seven times and the Audit Committee met four times. The 16b-3committee did not meet in 2023. In 2023, each of our incumbent directors attended at least 75% of the meetings of the Board and committees on which he or she served as a member.

Executive Sessions

At least once a year, the independent directors meet in an executive session that excludes management and any non-independentdirectors. A director designated by the independent directors presides at the executive sessions.

Director Attendance at Annual Meeting of Stockholders

We do not have a formal policy regarding the attendance of our Board members at our annual meetings of stockholders, but we expect all directors to make every effort to attend any meeting of stockholders. Each of our directors attended our annual meeting of stockholders held in 2023.

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Director Nominations Process

The Governing Body is responsible for nominating candidates to serve on the Board and its committees. In considering whether to nominate any particular candidate to serve on the Board or its committees or for inclusion in the Governing Body's slate of recommended director nominees for election at the annual meeting of stockholders, the Governing Body considers the criteria set forth in our Corporate Governance Guidelines.

Specifically, the Governing Body considers candidates of high integrity and good judgment who have a record of accomplishment in their chosen fields, and who display the independence of mind and strength of character to effectively represent the best interests of all stockholders and provide practical insights and diverse perspectives and may take into account many factors, including, but not limited to: personal and professional integrity, ethics and values; experience in corporate management, such as serving as an officer or former officer of a publicly held company; strong finance experience; relevant social policy concerns; experience relevant to the Company's industry; experience as a board member or executive officer of another publicly held company; relevant academic expertise or other proficiency in an area of the Company's operations; diversity of expertise and experience in substantive matters pertaining to the Company's business relative to other Board members; diversity of background and perspective, including, but not limited to, with respect to age, gender, race, place of residence, specialized experience, gender identification or expression, identification as an underrepresented minority, identification as LGBTQIA+ or sexual orientation, ethnic background, country of origin, military veteran status or religion; practical and mature business judgment, including, but not limited to, the ability to make independent analytical inquiries; and any other relevant qualifications, attributes or skills. In determining whether to recommend a director for re-election,the Governing Body may also consider the director's tenure, performance, past attendance at meetings and participation in and contributions to the activities of the Board and its committees.

We consider diversity, such as gender, race and ethnicity, in identifying director nominees and view such diversity characteristics meaningful factors to consider, but do not have a formal diversity policy. The Governing Body evaluates each individual in the context of the Board as a whole, with the objective of assembling a group that has the necessary tools to perform its oversight function effectively in light of the Company's business and structure. In determining whether to recommend a director for re-election,the Governing Body may also consider potential conflicts of interest with the candidates' other personal and professional pursuits.

In identifying prospective director candidates, the Governing Body may seek referrals from other members of the Board, management, stockholders and other sources, including third party recommendations. The Governing Body also may, but need not, retain a third-party search firm in order to assist it in identifying candidates to serve as directors of the Company. The Governing Body uses the same criteria for evaluating candidates regardless of the source of the referral or recommendation. When considering director candidates, the Governing Body seeks individuals with backgrounds and qualities that, when combined with those of our incumbent directors, provide a blend of skills and experience to further enhance the Board's effectiveness. In connection with its annual slate of nominees, the Governing Body also may assess the contributions of those directors recommended for re-electionin the context of the Board evaluation process and other perceived needs of the Board.

Egon Durban was recommended to serve on our Board by the Silver Lake Equityholders pursuant to the Stockholders Agreement and Jacqueline D. Reses was recommended to serve on our Board by our Chief Executive Officer and members of the Board. Each of the director nominees to be elected at the Annual Meeting was evaluated in accordance with our standard review process for director candidates in connection with their initial appointment and their nomination for election or re-election,as applicable, at the Annual Meeting.

When considering whether the directors and nominees have the experience, qualifications, attributes and skills, taken as a whole, to enable the Governing Body to satisfy its oversight responsibilities effectively in light of our business and structure, the Governing Body focused primarily on the information discussed in each of the

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Board member's biographical information set forth above. We believe that our directors provide an appropriate mix of experience and skills relevant to the size and nature of our business. This process resulted in the Governing Body's nomination of the incumbent directors named in this Proxy Statement and proposed for election by you at the Annual Meeting.

The Governing Body will consider director candidates recommended by stockholders. The Governing Body will review and evaluate information available to it regarding candidates proposed by stockholders and will apply the same criteria and follow substantially the same process in considering them as it does in considering other director candidates. Stockholders wishing to propose a candidate for consideration may do so by submitting their recommendation to the attention of the Secretary, Endeavor Group Holdings, Inc., 9601 Wilshire Boulevard, 3rd Floor, Beverly Hills, CA 90210.

Governing Body Role in Risk Oversight

The Board of Directors, including the Governing Body, has overall responsibility for risk oversight, including, as part of regular meetings, general oversight of executives' management of risks relevant to the Company. A fundamental part of risk oversight is not only understanding the material risks a company faces and the steps management is taking to manage those risks, but also understanding what level of risk is appropriate for the Company. The involvement of the directors in reviewing our business strategy is an integral aspect of the directors' assessment of management's tolerance for risk and its determination of what constitutes an appropriate level of risk for the Company. The Board and the Governing Body have overall responsibility for risk oversight, and, on an ongoing basis, review key long- and short-term material risks, and are supported in this function primarily by its committees.

The Audit Committee assists with risk oversight by periodically reviewing our accounting, reporting and financial practices, including the integrity of our financial statements and internal control over financial reporting and disclosure controls and procedures, the surveillance of administrative and financial controls, our compliance with legal and regulatory requirements, our cybersecurity risk and other risks affecting the Company. Through its regular meetings with management and relevant Company personnel, including, for example, the finance, legal, internal audit, tax, compliance, and information technology functions, the Audit Committee reviews and discusses significant areas of our business and summarizes for the Board and the Governing Body areas of risk and the appropriate mitigating factors. In addition, our Governing Body regularly receives detailed operating performance reviews, including with respect to existing and emerging material risks, from management. The Board also holds regular meetings to review, discuss and assess matters of material risk to the Company and to further support the Governing Body in its oversight of management's risk policies and practices and risk mitigation efforts.

Committee Charters and Corporate Governance Guidelines

Our Corporate Governance Guidelines, charters of the Audit Committee and 16b-3Committee and other corporate governance information are available under the Governance section of the Investor page of our website, www.investor.endeavorco.com, or by writing to our Secretary at our offices at 9601 Wilshire Boulevard, 3rd Floor, Beverly Hills, CA 90210.

Code of Conduct

We have a Code of Conduct that applies to all of our executive officers, directors and employees, including our principal executive officer, principal financial officer, principal accounting officer or controller or persons performing similar functions ("Covered Persons") other than those Covered Persons employed by WWE and its subsidiaries who are subject to WWE's Code of Business Conduct. A copy of our Code of Conduct is available under the Governance section of the Investor page of our website, www.investor.endeavorco.com, and a copy of WWE's Code of Business Conduct is available at corporate.wwe.com/investors/corporate-governance/code-of-business-conduct. We intend to make any legally required disclosures regarding amendments to, or waivers of, provisions of the applicable code of conduct on our website rather than by filing a Current Report on Form 8-K.

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Anti-Hedging Policy

Our Governing Body has adopted an Insider Trading Compliance Policy, which applies to all of our directors, officers and employees. The policy prohibits our directors, officers and employees from purchasing financial instruments, such as prepaid variable forward contracts, equity swaps, collars, and exchange funds, or otherwise engaging in transactions that hedge or offset, or are designed to hedge or offset, any decrease in the market value of our equity securities. All such transactions involving our equity securities, whether such securities were granted as compensation or are otherwise held, directly or indirectly, are prohibited.

Communications by Interested Parties

Any Company stockholder or other interested party who desires to communicate with our Governing Body or our non-managementor independent members of the Board, may do so by addressing such communications to the intended recipient by name or position in care of: Endeavor Group Holdings, Inc. to the attention of the Chief Legal Officer, 11 Madison Avenue, 18^th Floor, New York, NY 10010. The Chief Legal Officer will forward such communications to the appropriate party.

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COMPENSATION COMMITTEE REPORT OF OUR DIRECTORS

As described herein, compensation decisions are made by the Executive Committee and/or a committee and/or subcommittee thereof, composed of one or more of the directors identified below. The undersigned have reviewed and discussed with management the following Compensation Discussion and Analysis and, based on such review and discussion, have determined that the Compensation Discussion and Analysis should be included in this Proxy Statement and incorporated by reference into the Company's Annual Report on Form 10-Kfor the fiscal year ended December 31, 2023.

Ariel Emanuel

Patrick Whitesell

Egon Durban

Stephen Evans

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EXECUTIVE COMPENSATION

Executive Summary

We believe that our unique business model gives us a competitive advantage in the industries in which we operate. To maintain such advantage across all of our segments, we believe it is imperative to retain key management whose skill sets are uniquely suited to our business model. As such, the retention and incentivization of our named executive officers was a key consideration of our compensation decisions in 2023. We believe our compensation in 2023, including any compensation paid through TKO following the business combination of the UFC and WWE businesses under TKO (the "TKO Transactions"), was representative of, and an appropriate award for, our financial and operational successes in 2023 as described below.

2023 Financial and Operating Highlights

In 2023, we achieved several financial and operational results. Of particular note were the following achievements:

Such financial results and strategic activity were driven in a significant way by our named executive officers and, as a result, were key factors when both establishing incentive compensation levels and finally determining the compensation for our named executive officers for 2023, as further described below.

For a reconciliation of the differences between Adjusted EBITDA and the most directly comparable financial measure calculated and presented in accordance with generally accepted accounting principles in the United States ("GAAP") and the reasons why our management believes that presentation of Adjusted EBITDA provides useful information regarding our financial condition and results of operations, see Part II, Item 7, "Management's Discussion and Analysis of Financial Condition and Results of Operations-Non-GAAP Financial Measures" on pages 53 through 55 of our Annual Report.

Compensation Discussion and Analysis

This compensation discussion and analysis describes our executive compensation program for our named executive officers in respect of our fiscal year ended December 31, 2023, which we refer to herein as "fiscal year 2023," and includes a discussion of our compensation objectives and philosophy and provides context for the compensation actions reflected in the tabular disclosure that follows. Such compensation program includes compensation from Endeavor and, for certain of our named executive officers who provide services to TKO, additional compensation from TKO.

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Endeavor's named executive officers for fiscal year 2023 were as follows:

Compensation Objectives and Philosophy

Fiscal year 2023 was a milestone year for us with several operational achievements, including completion of the TKO Transactions and continuing integration of the UFC and WWE businesses. We look forward to continuing to build on these significant achievements into 2024 and beyond.

The objective of our corporate compensation and benefits program is to establish and maintain a competitive total compensation program that will attract, motivate and retain the qualified and skilled workforce necessary for our continued success.

Our compensation structure includes pay-for-performanceelements designed to align the interests of our named executive officers and our stockholders, motivate our named executive officers to achieve or exceed our targeted financial and other performance objectives and reward them for their achievements when those objectives are met. To help achieve these objectives, a meaningful portion of our named executive officers' compensation is at-riskand provided in the form of both short-and long-termvariable or performance-basedcompensation and equity awards, the value of which is tied to the equity appreciation of our business. Further, our named executive officers' involvement in and support of key strategic activity, such as the TKO Transactions, are considered when making determinations of any discretionary cash bonus awards.

The overall level of total compensation for our named executive officers as described herein is intended to be reasonable in relation to, and competitive with, the compensation paid to executives in the industries in which we compete for talent, subject to variation for factors such as the individual's experience, performance, duties and scope of responsibilities, prior contributions and future potential contributions to our business. Our compensation plans are designed to align with our business strategies, taking into account external market conditions. With these principles in mind, we structure our compensation program to offer competitive total pay packages that we believe enable us to attract, retain and motivate executives with the skill and knowledge that we require, and to ensure the stability of our management team, which is vital to the success of our business.

Setting Executive Compensation

Setting Executive Compensation at Endeavor

The fiscal year 2023 annual compensation program for Messrs. Emanuel and Whitesell was determined by the Executive Committee (excluding Messrs. Emanuel and Whitesell, as applicable) and, for the other named

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executive officers, was determined by Mr. Emanuel, as a subcommittee of the Key Executive Sub-Committee(a subcommittee of the Executive Committee, consisting of Messrs. Emanuel and Whitesell). However, notwithstanding the foregoing, any equity compensation granted to Endeavor's named executive officers also requires approval by both the Executive Committee as well as a committee of non-employeedirectors. Further, these governing bodies consult with Endeavor management from time to time on compensation-relateddecisions (including annual bonus determinations). In setting executive pay for 2023, management of Endeavor engaged Mercer (US) LLC, a wholly-ownedsubsidiary of Marsh & McLennan Companies ("Mercer"), in 2023 to provide market data in connection with making recommendations to the applicable governing body regarding executive compensation, including for Endeavor's named executive officers. Mercer was not engaged by the Executive Committee, the Key Executive Sub-Committee(or any subcommittee thereof) or any committee of non-employeedirectors in connection with compensation decisions for fiscal year 2023. For fiscal year 2023, Mercer's aggregate fees equaled approximately $983,471 pursuant to which approximately $304,361 related to its services with respect to determining or recommending the amount or form of executive compensation and approximately $679,110 related to additional services. We intend to continue having such governing bodies administer Endeavor's executive compensation programs, until such time as we are required to have a compensation committee or, if earlier, we elect to establish a compensation committee.

Setting Executive Compensation at TKO

The fiscal year 2023 annual compensation program for Messrs. Emanuel and Shapiro was established in connection with the TKO Transactions, taking into account market data provided by Mercer. Following the TKO Transactions, compensation from TKO for Messrs. Emanuel and Shapiro is recommended by the compensation committee of the board of directors of TKO (the "TKO Compensation Committee"), and thereafter determined by the board of directors of TKO (and, for fiscal year 2023, to the extent applicable under TKO's bylaws, the Executive Chair of the board of directors of TKO). As to compensation from TKO for Mr. Krauss, target amounts were set by the TKO Compensation Committee, with the actual cash compensation amounts determined by Mr. Emanuel and actual equity compensation amounts recommended by Mr. Emanuel and approved by the TKO Compensation Committee. The board of directors of TKO, TKO Compensation Committee or applicable delegate authorized to review and/or approve compensation matters is herein referred to as the "TKO governing body". The TKO governing body consults with TKO management from time to time on compensation-related decisions (including annual bonus determinations).

Following the TKO Transactions, the TKO Compensation Committee engaged Pay Governance LLC ("Pay Governance") and Mercer to provide market data for comparable positions in connection with making recommendations to the applicable TKO governing body regarding executive compensation for TKO's named executive officers. TKO did not use this data to benchmark or target any specific percentile, but rather as a broad frame of reference to evaluate competitiveness of its executive compensation structure. Pay Governance and Mercer used market data based on a media and entertainment industry-specific (media and live event/experience) peer group. As there are few direct competitors in live sports operating as independent public companies, the peer group was developed to include companies featuring business focuses similar to TKO, including: sports and entertainment; live events; content creation and distribution; and licensing and partnerships that create significant value. Also, the peer group was developed to include, where possible, companies with similar high-value characteristics as TKO (e.g., comparable Market Cap, EBITDA, or Market Cap-to-Revenueratio). As a result, the peer group includes several companies with larger revenues than TKO. The limited number of direct competitors and TKO's premium valuation and strong profit profile suggested defining a peer set strictly based on revenue was inappropriate. The peer group used by Pay Governance and Mercer and considered by the TKO governing body included the following companies: AMC Entertainment Holdings, Inc., AMC Networks, Inc., Electronic Arts Inc., Fox Corporation, IAC Inc., iHeartMedia, Inc., Lions Gate Entertainment Corp., Live Nation Entertainment, Inc., Netflix, Inc., Paramount Global, Sirius XM Holdings Inc., Sphere Entertainment Co., Take-TwoInteractive Software, Inc. and Warner Bros. Discovery, Inc.

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For fiscal year 2023, neither Pay Governance nor Mercer provided services to TKO outside of their services with respect to determining or recommending the amount or form of executive compensation for certain of its named executive officers.

Factors Considered at Endeavor and TKO

In setting an individual named executive officer's compensation package and determining the relative allocation among different elements of compensation, the applicable governing body at Endeavor or TKO, with the consultation of applicable management where appropriate, considers several factors, including, but not limited to:

The compensation of our named executive officers is expected to be reviewed at least annually by Endeavor's Executive Committee, or a subcommittee of the Executive Committee, or the TKO governing body, as applicable. In addition, throughout the year, Endeavor's Executive Committee, or a subcommittee of the Executive Committee, or the TKO governing body, as applicable, may review changes in TKO's business, market conditions and the scope of the executive officers' roles, as well as the roles of all members of the broader management team. Further, Endeavor's and TKO's applicable governing body may continue to consult with management from time to time on compensation-relateddecisions and management may engage Mercer, Pay Governance or other compensation advisors in connection with making recommendations to the applicable governing body.

Compensation Practice Checklist

We have incorporated the following principles of good governance when making decisions on compensation for the named executive officers in fiscal year 2023.

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Key Elements of Executive Compensation Program

The primary elements of Endeavor's and TKO's executive compensation program for fiscal year 2023 are base salary, annual cash bonuses, equity-basedcompensation in the form of restricted stock units ("RSUs"), and certain employee benefits and perquisites. Additionally, in 2023, Endeavor and TKO provided one-timetransaction bonuses to certain of our named executive officers in respect of the TKO Transactions. Brief descriptions of each principal element of Endeavor's and TKO's executive compensation program and its objectives are summarized in the following table and described in more detail below.

Overview

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Say-on-PayAdvisory Vote

In 2022, we held a "say-on-pay"vote on the Company's executive compensation program as set forth in the proxy statement and 99.1% of the votes cast by stockholders voted "for" the proposal. Given that a substantial majority of stockholders approved the executive compensation program, we continued to apply substantially similar principles in determining the amounts and types of executive compensation and did not implement significant changes as a result of the stockholder advisory vote. Our next say-on-payvote will be held in fiscal year 2025.

Base Salary

The base salary component of each of Endeavor's and TKO's compensation programs is intended to provide a stable level of compensation to each named executive officer commensurate with the named executive officer's role, experience and duties. The base salary of each named executive officer is generally established as an initial matter in his applicable employment agreement(s). Subject to any obligation under such employment agreement, however, the applicable governing body of Endeavor or TKO (as described in "Compensation Discussion and Analysis-Setting Executive Compensation" above) establishes the base salary levels for our named executive officers based upon consideration of several factors, including: (1) the named executive officer's performance in the preceding fiscal year; (2) the anticipated contribution by the named executive officer in the upcoming fiscal year, taking into account the role, responsibility and scope of each position; (3) any extraordinary changes that have occurred (such as a significant change in responsibilities or a promotion); (4) the named executive officer's length of service and performance over an extended period of time; (5) general economic conditions; and (6) the value and potential value to the named executive officer of the other elements of our compensation program. No single factor is disproportionately weighted and all of the above considerations are addressed collectively in the determination of the named executive officer's base salary level.

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The fiscal year 2023 base salaries of our named executive officers are set forth in the table below. The amounts in the Summary Compensation Table reflect the actual amount paid during fiscal year 2023. While certain of our named executive officers commenced receiving base salary from TKO, there were no increases to base salaries at Endeavor for our named executive officers in 2023.

Annual Cash Bonuses

Annual Cash Bonuses at Endeavor

In fiscal year 2023, we provided our named executive officers with the opportunity to earn cash bonuses to encourage the achievement of Endeavor's company performance objectives and to reward our named executive officers based on individual performance and contribution to our success.

Ariel Emanuel. As set forth in Mr. Emanuel's employment agreement, Mr. Emanuel is entitled to receive an annual bonus with a target bonus amount equal to $6,000,000. The attainment of the annual bonus is based on the achievement of a performance metric to be mutually agreed upon between Mr. Emanuel and the Executive Committee and was calculated in accordance with the terms of his employment agreement (as described below). For fiscal year 2023, Mr. Emanuel and the Executive Committee determined that Adjusted EBITDA would be the performance metric applicable for his 2023 annual bonus and the target Adjusted EBITDA would be $1,290 million. In December 2023, the Executive Committee (other than Mr. Emanuel) determined that Endeavor's Adjusted EBITDA was expected to be less than applicable required threshold performance pursuant to the terms of his employment agreement, and therefore Mr. Emanuel was not entitled to any annual bonus based on such performance metric. Nonetheless, the Executive Committee determined that Mr. Emanuel should receive a discretionary bonus in the amount of $10,650,000, given his overall performance, taking into account, among other things, his contributions to fiscal year 2023's strategic transactions, as described above, as well as our financial condition and consolidated results for the year ended December 31, 2023.

Patrick Whitesell. As set forth in Mr. Whitesell's employment agreement, Mr. Whitesell was entitled to receive an annual guaranteed bonus in the amount of $2,000,000 for fiscal year 2023. In addition, the Executive Committee (other than Mr. Whitesell) determined that Mr. Whitesell was also entitled to receive a discretionary bonus in the amount of $3,775,000, given his overall performance, taking into account, among other things, his contributions to fiscal year 2023's strategic transactions, as described above, as well as our financial condition and consolidated results for the year ended December 31, 2023.

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Jason Lublin, Mark Shapiro and Seth Krauss.As set forth in their respective employment agreements, Mr. Lublin was entitled to receive an annual guaranteed bonus in the amount of $750,000, with an annual target bonus of $2,250,000, Mr. Shapiro had the opportunity to earn an annual cash bonus with a target of $3,000,000 and Mr. Krauss had the opportunity to earn an annual cash bonus with a target of $1,500,000. A subcommittee of the Executive Committee determined, that for fiscal year 2023, Messrs. Lublin, Shapiro and Krauss would earn fifty percent (50%) of their target annual bonuses if Endeavor achieved a targeted Adjusted EBITDA of $1,290 million, with the remainder of their annual bonus determined at year end, taking into account company and individual performance at such time. In December 2023, such subcommittee determined that Endeavor's Adjusted EBITDA was less than the target Adjusted EBITDA and therefore Messrs. Lublin, Shapiro and Krauss were not entitled to any annual bonus based on such performance metric. Nonetheless, the subcommittee determined that Messrs. Lublin, Shapiro and Krauss should receive discretionary bonuses in the amounts of $1,948,667, $4,500,000 and $1,500,000, respectively, given their overall performance, taking into account, among other things, their contributions to fiscal year 2023's strategic transactions, as described above, as well as our financial condition and consolidated results for the year ended December 31, 2023.

Endeavor believes that Adjusted EBITDA is a financial measure that is an important supplemental indicator of Endeavor's operating performance, but is not a measure computed in accordance with GAAP. For a discussion of Adjusted EBITDA, including a reconciliation to the closest GAAP equivalent, please see Part II, Item 7, "Management's Discussion and Analysis of Financial Condition and Results of Operations-Non-GAAP Financial Measures" on pages 53 through 55 of our Annual Report.

In December 2023, the annual cash bonus payments were made to our named executive officers for fiscal year 2023. The following table reflects the minimum and target bonuses applicable for fiscal year 2023 and the actual amounts paid by Endeavor to the named executive officers:

Annual Cash Bonuses at TKO

In addition to the opportunity to earn cash bonuses for their services to Endeavor, Messrs. Emanuel, Shapiro and Krauss were provided with the opportunity to earn cash bonuses with respect to fiscal 2023 for their services to TKO. Subject to any guarantees described below, such bonuses were intended to encourage the achievement of TKO's performance objectives and to reward our named executive officers based on individual performance and contribution to TKO's success.

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Ariel Emanuel. As set forth in Mr. Emanuel's employment agreement with TKO, for fiscal year 2023, Mr. Emanuel is entitled to receive an annual guaranteed bonus in the amount of $1,750,000. In addition to this guaranteed bonus, the TKO governing body determined that for fiscal year 2023, Mr. Emanuel should receive a supplemental cash bonus in the amount of $2,250,000, taking into account, among other things, his contribution to TKO's overall performance and fiscal year 2023 strategic activity.

Mark Shapiro. As set forth in Mr. Shapiro's employment agreement with TKO, for the period of September 12, 2023 through September 11, 2024, Mr. Shapiro is eligible to receive a bonus, with a target bonus opportunity of $5,500,000 (the pro-ratedportion of which would have been approximately $1,672,603 for the portion of fiscal year 2023 following the TKO Transactions). The TKO governing body determined that for fiscal year 2023, Mr. Shapiro should receive a bonus in the amount of $4,000,000, taking into account, among other things, his contributions to TKO's overall performance and fiscal year 2023 strategic activity.

Seth Krauss.For fiscal year 2023, Mr. Krauss did not receive a bonus from TKO. Mr. Krauss is expected to be eligible to receive an annual bonus from TKO for his services to TKO in respect of fiscal year 2024.

The following table reflects the annual bonuses paid by TKO to the named executive officers:

Transaction Bonuses

In fiscal year 2023, Endeavor and TKO provided certain of our named executive officers with certain transaction bonuses to reflect their significant efforts to support in connection with the consummation of the TKO Transactions. The following table reflects such transaction bonuses paid to the named executive officers:

Equity-BasedAwards

Equity-Based Awards at Endeavor

Ariel Emanuel and Patrick Whitesell. Messrs. Emanuel and Whitesell received certain restricted stock unit awards, including one-timeperformance-vesting restricted stock unit awards (referred to herein as performance stock unit awards) in 2021 in connection with Endeavor's initial public offering ("IPO"), which require both continued growth in Endeavor's equity value and/or their continued employment over a long-term

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period. Pursuant to the terms of such performance stock unit awards, upon our achievement of each applicable share price increase, Messrs. Emanuel and Whitesell are entitled to receive a number of shares of Class A common stock equal to $26,500,000 and $100,000,000, respectively. One-third of anyshares of Endeavor's Class A common stock received upon achievement of any applicable share price increase will be vested upon grant and the remainder of such shares will vest in two equal installments on each of the first and second anniversaries of the date of grant, subject to Mr. Emanuel's or Mr. Whitesell's continued employment through the vesting date. For more information relating to these awards, see footnotes 2 and 4 to the table entitled "Outstanding Equity Awards at 2023 Fiscal Year End".

Such awards were intended to continue to incentivize Messrs. Emanuel and Whitesell over a period of years and, as such, no additional equity awards were granted to them in connection with the annual equity grant cycle in 2023.

In connection with Endeavor Operating Company having imposed a limitation on tax distributions to its members (which resulted in Messrs. Emanuel and Whitesell not receiving tax distributions from Endeavor Operating Company sufficient to cover the estimated amount of tax attributable to their respective interests in Endeavor Operating Company), on August 25, 2023, Messrs. Emanuel and Mr. Whitesell received one-timerestricted stock unit awards covering 146,634 and 129,594 shares of Endeavor's Class A common stock, respectively, which were vested upon the grant. Endeavor intends to continue to analyze Messrs. Emanuel and Whitesell's compensation from time to time and may make additional equity grants to them in the future to the extent determined appropriate.

Jason Lublin, Mark Shapiro and Seth Krauss Messrs. Lublin, Shapiro and Krauss are each entitled to an annual equity award in their respective employment agreements, in an amount that ranges from, (a) for Messrs. Lublin and Shapiro, 75% to 150% of the sum of the named executive officer's then-currentannual base salary and then-currenttarget annual cash bonus and, (b) for Mr. Krauss, 50% to 150% of Mr. Krauss' then-currentannual base salary. In 2023, the Executive Committee determined that, taking into account among other things, their contributions to Endeavor's fiscal year 2022's strategic transactions and Endeavor's achievement of its Adjusted EBITDA target for fiscal year 2022, the named executive officers were eligible for equity awards at or above the top of such ranges. As such, in 2023, we granted restricted stock units to Messrs. Lublin, Shapiro and Krauss in connection with Endeavor's annual equity grant cycle based on such values. On February 21, 2023, Messrs. Lublin, Shapiro and Krauss received 309,513, 447,074 and 103,171 restricted stock units, respectively. The restricted stock units vest in three equal installments on the first, second and third anniversary of the date of grant, subject to each named executive officer's continued employment through each vesting date.

In addition to the annual equity awards, in connection with Endeavor Operating Company having imposed a limitation on tax distributions to its members (which resulted in Messrs. Lublin, Shapiro and Krauss not receiving tax distributions from Endeavor Operating Company sufficient to cover the estimated amount of tax attributable to their respective interests in Endeavor Operating Company), on August 25, 2023, Messrs. Lublin, Shapiro and Krauss received one-timerestricted stock unit awards covering 11,930, 6,095 and 2,019 shares of Endeavor's Class A common stock, respectively, which were vested upon the grant.

Equity-Based Awards at TKO

Messrs. Emanuel and Shapiro were each entitled to a one-timeequity award in fiscal year 2023, as set forth in their respective TKO employment agreements, in connection with or following the completion of the TKO Transactions. As such, on September 12, 2023, Mr. Emanuel received 388,162 restricted stock units of TKO that vest in four equal installments on September 12, 2024, September 12, 2025, September 12, 2026 and September 12, 2027, subject to Mr. Emanuel's continued employment with TKO through each vesting date. Mr. Shapiro received 60,651 restricted stock units of TKO that vest in full on September 12, 2024, subject to Mr. Shapiro's continued employment through such vesting date. The employment agreements for Messrs. Emanuel and Shapiro provide that certain unvested portions of such equity awards will accelerate and vest upon certain terminations of employment or change in control. Mr. Krauss did not receive any equity award at TKO in fiscal year 2023.

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Severance Protection

We and TKO have entered into employment agreements with our named executive officers that provide for certain severance payments and benefits if an executive's employment is terminated under specified conditions. In addition, the vesting of a portion of Endeavor's and TKO's equity awards accelerates in connection with qualifying terminations of employment at Endeavor and TKO, as applicable. We believe that these severance benefits are appropriate to remain competitive in our executive retention efforts, recognizing that such benefits are commonly offered by employers competing for similar executive talent. See "Potential Payments upon Termination of Employment or Change in Control" for additional information.

Employee Benefits and Perquisites

We provide a number of benefit plans to all eligible employees, including our named executive officers. These benefits include programs such as medical, dental, life insurance, business travel accident insurance, short-and long-termdisability coverage and a 401(k) defined contribution plan (including a company matching contribution). TKO provides plans and programs of a similar nature but, for fiscal year 2023, none of our named executive officers participated in such plans and programs. Neither Endeavor nor TKO maintains any defined benefit pension plans or any nonqualified deferred compensation plans.

While perquisites help to provide our named executive officers a benefit with a high perceived value at a relatively low cost, we do not generally view perquisites as a material component of our executive compensation program. Among the perquisites we provide, certain of our named executive officers receive financial and tax advice services, reserved parking, personal cell phone expenses, guest travel on business-relatedtrips on Endeavor's aircraft, use of Endeavor's facilities to sponsor a personal event, use of TKO-leasedhousing for certain business-related travel, and tickets to a variety of entertainment and sporting events. The material perquisites received by our named executive officers in 2023 are described below.

Messrs. Emanuel and Whitesell received personal use of Endeavor's aircraft, and reserved parking and reimbursement of personal cell phone expenses in 2023. In addition, Mr. Emanuel received certain business management and tax advisory services.

Mr. Lublin received personal use of Endeavor's aircraft, certain tax advisory services and reserved parking in 2023. Mr. Shapiro received personal use of Endeavor's aircraft in 2023.

The aggregate incremental cost of such perquisites in 2023 is included in the "All Other Compensation" column of the Summary Compensation Table below. From time to time, our named executive officers use Endeavor's facilities to sponsor a personal event or meeting, but because they directly pay for costs associated with such events or meetings, there is no aggregate incremental cost to us for such use. From time to time, our named executive officers also use tickets to a variety of entertainment and sporting events that are purchased by us, however, because such tickets are purchased on an annual subscription basis, there is no aggregate incremental cost to us for such use. Further, each such named executive officer is subject to an aircraft time-sharingagreement, pursuant to which he or she reimburses Endeavor for the incremental costs associated with such personal flights and because Endeavor is so reimbursed by the named executive officer for such use, there is no aggregate incremental cost to us for such flights. To the extent, however, that guests accompany our named executive officers on business-relatedflights on Endeavor's aircraft, the incremental cost of such travel, calculated on a cost-per-milebasis based upon the variable costs of the flight, including fuel, variable maintenance and ground transportation, is included. For purposes of calculating incremental costs, we also included the incremental costs of any deadhead flights, or portions thereof, made in connection with such travel. In addition, each of our named executive officers may utilize TKO-leasedhousing for business related travel to UFC's office in Las Vegas, subject to availability and for which there is no aggregate incremental cost to us.

In the future, we may provide additional or different perquisites or other personal benefits in limited circumstances, such as where we believe doing so is appropriate to assist a named executive officer in the

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performance of his duties, to make our named executive officers more efficient and effective and for recruitment, motivation and/or retention purposes.

Clawback Policy

Endeavor and TKO have each instituted a clawback policy in accordance with the NYSE's final rules implementing the incentive-based compensation recovery provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act, effective October 2, 2023 to support a culture of focused, diligent and responsible management that discourages conduct detrimental to our growth. Each of Endeavor's and TKO's policies applies to each person who serves as an executive officer of Endeavor or TKO, as applicable, as defined in Rule 10D-1(d)under the Exchange Act, which includes our named executive officers (each, a "covered employee"). In the event of a qualifying financial restatement, a covered employee will be required to forfeit erroneously awarded incentive compensation to Endeavor to the extent required under applicable law. Certain employees who are not covered employees are also subject to a separate clawback policies, which allows us and TKO to recover incentive compensation in similar circumstances.

Risk Analysis

We have reviewed our employee compensation policies, plans and practices to determine if they create incentives or encourage behavior that is reasonably likely to have a material adverse effect on Endeavor and its subsidiaries and we believe that there are no unmitigated risks created by our compensation policies, plans and practices that create incentives or encourage behavior that is reasonably likely to have a material adverse effect on us.

Equity Grant Timing

Endeavor does not time equity awards in coordination with the release of material non-publicinformation or take into account material non-publicinformation when determining the terms of equity awards.

Summary Compensation Table

The following table shows the compensation earned by our principal executive officer and our principal financial officer for the fiscal years ended December 31, 2021, 2022 and 2023, and our three other most highly compensated executive officers who were serving as executive officers as of December 31, 2023. For the fiscal year ended December 31, 2023, such compensation includes compensation from both Endeavor and TKO, as described further below.

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The principal positions listed in the table refer to the positions of our named executive officers at Endeavor as of December 31, 2023.

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Grants of Plan-BasedAwards for Fiscal Year 2023

The following table presents information with respect to each grant of plan-basedawards to each named executive officer in fiscal year 2023, denoting the applicable entity providing such plan-based awards.

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Employment Agreements

Employment Agreements with Mr. Emanuel

Employment Agreement with Endeavor

Endeavor and Endeavor Operating Company are currently parties to an employment agreement with Mr. Emanuel that became effective on May 6, 2014 and was subsequently amended on December 31, 2014, October 9, 2017 and March 13, 2019.

The current term of Mr. Emanuel's employment agreement expires on December 31, 2028. Mr. Emanuel's employment agreement provides that Mr. Emanuel shall serve as Chief Executive Officer and will report to Endeavor's Board of Directors. In addition, Mr. Emanuel is entitled, but not obligated, to serve on Endeavor's Board of Directors (and any committee thereof, to the extent permitted by applicable law and listing standards). Mr. Emanuel's employment agreement further provides that to the extent not inconsistent with the business practices and policies applicable to our employees, and if such activities do not interfere in any material respect with his duties and responsibilities, Mr. Emanuel is permitted to serve as a member of the board of directors of any charitable, educational, religious or entertainment industry trade, public interest or public service organization and any "for profit" entity approved by Endeavor's Board of Directors and continue to serve in the board, advisory and ownership positions previously agreed to by Endeavor's Board of Directors.

For fiscal year 2023, Mr. Emanuel's employment agreement provided for an annual base salary of $4,000,000. Mr. Emanuel is also entitled to receive an annual bonus with a target bonus amount equal to $6,000,000. The attainment of the annual bonus will be based on the achievement of a performance metric to be

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mutually agreed upon between Mr. Emanuel and the Executive Committee. If (i) less than 90% of the performance metric is achieved, Mr. Emanuel's annual bonus shall be determined and paid in Endeavor's sole discretion, (ii) at least 90% of the performance metric is achieved, Mr. Emanuel's annual bonus shall be at least 75% of the target bonus, (iii) at least 100% of the performance metric is achieved, Mr. Emanuel's annual bonus shall be at least 100% of the target bonus, or (iv) at least 110% of the performance metric is achieved, Mr. Emanuel's annual bonus shall be at least 125% of the target bonus. In addition to the foregoing, if at least 90% of the performance metric is achieved, Mr. Emanuel may, in Endeavor's sole discretion, receive an additional cash bonus for the applicable year. Mr. Emanuel's annual bonus and any discretionary decisions related to such bonus shall be determined by the Executive Committee (excluding Mr. Emanuel).

Mr. Emanuel's employment agreement further provides that Mr. Emanuel is eligible to participate in all employee benefit programs made available to all active employees, and that Endeavor Operating Company shall maintain for Mr. Emanuel, at its sole cost and expense, a life insurance policy having a face amount of $4,000,000.

Mr. Emanuel's employment agreement includes confidentiality and assignment of intellectual property provisions, and Mr. Emanuel has also entered into a restrictive covenant agreement pursuant to which he is subject to certain restrictive covenants, including non-disparagementrestrictions, that are effective during employment and continue until the second anniversary of the date on which Mr. Emanuel and (if applicable) each of his affiliates ceases to own Endeavor's equity securities, directly or indirectly or, if earlier, the second anniversary of the date on which Mr. Emanuel's employment terminates for any reason. Mr. Emanuel's employment agreement provides for severance upon certain terminations of employment as described below under "Potential Payments upon Termination of Employment or Change in Control."

Employment Agreement with TKO

TKO is currently party to an employment agreement with Mr. Emanuel that became effective on September 12, 2023 and expires on December 31, 2027.

Mr. Emanuel's TKO employment agreement provides that Mr. Emanuel shall serve as Chief Executive Officer of TKO and will report to the board of directors of TKO. Mr. Emanuel's TKO employment agreement provides that he may continue to provide services in his role and position at Endeavor, Endeavor Operating Company and their respective subsidiaries, including as such role and position may be modified.

Mr. Emanuel's TKO employment agreement provides for an annual base salary of $3,000,000, which will be pro-ratedfor any partial calendar year (if applicable) and subject to increase from time to time as approved by TKO governing body.

For his service with TKO during the portion of the fiscal year 2023 following the TKO Transactions, Mr. Emanuel was entitled to receive a guaranteed annual cash bonus equal to $1,750,000, which was paid during the first fiscal quarter of fiscal year 2024. Beginning in respect of fiscal year 2024, Mr. Emanuel will be eligible to receive an annual bonus with a target bonus amount equal to $7,000,000. The attainment of the annual bonus will be based on the achievement of a performance metric to be mutually agreed upon between Mr. Emanuel and TKO governing body. If (i) less than 90% of the performance metric is achieved, Mr. Emanuel's annual bonus shall be determined and paid in TKO's sole discretion, (ii) at least 90% of the performance metric is achieved, Mr. Emanuel's annual bonus shall be at least 75% of the target bonus, (iii) at least 100% of the performance metric is achieved, Mr. Emanuel's annual bonus shall be at least 100% of the target bonus, or (iv) at least 110% of the performance metric is achieved, Mr. Emanuel's annual bonus shall be at least 125% of the target bonus. In addition to the foregoing, Mr. Emanuel may, in TKO's sole discretion, receive an additional cash bonus for the applicable year. Mr. Emanuel's annual bonus and any discretionary decisions related to such bonus shall be determined by TKO governing body.

Mr. Emanuel's TKO employment agreement additionally entitled Mr. Emanuel to receive a transaction bonus of $20,000,000, which was paid within 30 days following the TKO Transactions.

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Mr. Emanuel was also granted a one-timeequity award comprised of 388,162 restricted stock units of TKO on September 12, 2023. The equity award will vest in four equal installments on each of the one-year,two-year,three-year and four-year anniversaries of September 12, 2023, subject to Mr. Emanuel's continued employment with TKO through each applicable vesting date or as described below under "Potential Payments upon Termination of Employment or Change in Control-Equity Vesting".

In addition, for fiscal year 2023, Mr. Emanuel is entitled to receive an equity award in the amount of $2,500,000. Such equity award was granted in the first quarter of fiscal year 2024, and is comprised of 29,064 restricted stock units of TKO that vest in three equal installments on each of the one-year,two-yearand three-year anniversaries of January 20, 2024, subject to Mr. Emanuel's continued employment with TKO through each applicable vesting date or as described below under "Potential Payments upon Termination of Employment or Change in Control-Equity Vesting".

For each remaining fiscal year during the term of his employment agreement with TKO, Mr. Emanuel will be eligible to receive a TKO annual equity award in an amount that ranges from 75% to 150% of a $10,000,000 target amount. It is expected that fifty percent of the annual equity awards for each fiscal year shall be determined based on attainment of certain annual performance metrics, and fifty percent shall be determined based on continued service with TKO and/or other criteria. Each such annual award is expected to consist of restricted stock units of TKO or similar awards that vest in three equal installments on each of the one-year,two-yearand three-year anniversaries of the date of grant, subject to the approval of TKO governing body, and subject to Mr. Emanuel's continued employment with TKO through each applicable vesting date or as described below under "Potential Payments upon Termination of Employment or Change in Control-Equity Vesting". The terms and conditions of Mr. Emanuel's TKO equity awards (including the type, nature and vesting conditions thereof) will be determined in the good faith discretion of TKO governing body, and TKO governing body may only change the equity awards from time-vesting to performance-vesting awards after negotiations with Mr. Emanuel in good faith. The value of Mr. Emanuel's equity awards may exceed the expected amount for the fiscal years described above.

Mr. Emanuel's employment agreement with TKO further provides that Mr. Emanuel is eligible to participate in all TKO employee benefit programs made available to all active employees. Mr. Emanuel's employment agreement with TKO provides for severance upon certain terminations of employment as described below under "Potential Payments upon Termination of Employment or Change in Control."

Mr. Emanuel's employment agreement with TKO includes confidentiality and assignment of intellectual property provisions.

Mr. Emanuel's employment agreement with TKO provides that, if any payments to Mr. Emanuel would be considered "excess parachute payments" under Section 280G of the Code and subject to excise taxes under Section 4999 of the Code, such payments will be reduced to the extent such reduction would provide a greater net after-taxbenefit to Mr. Emanuel in relation to the net after-taxbenefit to Mr. Emanuel if all such payments had been made.

In connection with the transactions contemplated by the Merger Agreement (as defined below), on April 2, 2024, Endeavor, Endeavor Operating Company, William Morris Endeavor Entertainment, LLC ("WME"), Wildcat EGH Holdco, L.P. ("Holdco Parent") and Wildcat OpCo Holdco, L.P. ("Opco Parent") entered into a letter agreement with Mr. Emanuel, providing for, among other things, his employment and compensation following consummation of the Merger (as defined below). For further information regarding the terms of the letter agreement with Mr. Emanuel, see the Current Report on Form 8-Kfiled by Endeavor on April 3, 2024.

Employment Agreement with Mr. Whitesell

Endeavor and Endeavor Operating Company are currently parties to an employment agreement with Mr. Whitesell that became effective on May 6, 2014 and was subsequently amended on December 31, 2014, October 9, 2017 and March 13, 2019.

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The current term of Mr. Whitesell's employment agreement expires on December 31, 2028. Mr. Whitesell's employment agreement provides that Mr. Whitesell shall serve as Executive Chairman and will report to Endeavor's Board of Directors. In addition, Mr. Whitesell is entitled, but not obligated, to serve on Endeavor's Board of Directors (and any committee thereof, to the extent permitted by applicable law and listing standards). Mr. Whitesell's employment agreement further provides that to the extent not inconsistent with the business practices and policies applicable to Endeavor's employees, and if such activities do not interfere in any material respect with his duties and responsibilities, Mr. Whitesell is permitted to serve as a member of the board of directors of any charitable, educational, religious or entertainment industry trade, public interest or public service organization and any "for profit" entity approved by Endeavor's Board of Directors and continue to serve in the board, advisory and ownership positions previously agreed to by Endeavor's Board of Directors.

For fiscal year 2023, Mr. Whitesell's employment agreement provided for an annual base salary of $4,000,000. Mr. Whitesell is also entitled to receive an annual "guaranteed" bonus in an aggregate amount equal to $2,000,000, which amount shall be payable to Mr. Whitesell only to the extent he remains in good standing with Endeavor Operating Company and is employed on December 31 of the year in which the guaranteed bonus is earned.

Mr. Whitesell's employment agreement further provides that Mr. Whitesell is eligible to participate in all employee benefit programs made available to all active employees, and that Endeavor Operating Company shall maintain for Mr. Whitesell, at its sole cost and expense, a life insurance policy having a face amount of $4,000,000.

Mr. Whitesell's employment agreement includes confidentiality and assignment of intellectual property provisions, and Mr. Whitesell has also entered into a restrictive covenant agreement pursuant to which he is subject to certain restrictive covenants, including non-disparagementrestrictions, that are effective during employment and continue until the second anniversary of the date on which Mr. Whitesell and (if applicable) each of his affiliates ceases to own Endeavor's equity securities, directly or indirectly or, if earlier, the second anniversary of the date on which Mr. Whitesell's employment terminates for any reason.

Mr. Whitesell's employment agreement provides for severance upon certain terminations of employment as described below under "Potential Payments upon Termination of Employment or Change in Control."

In connection with the execution of the Merger Agreement, Mr. Whitesell entered into a letter agreement with Endeavor, Endeavor Operating Company, WME, Holdco Parent and Opco Parent providing for, among other things, his compensation following consummation of the Merger. For further information regarding the terms of the letter agreement with Mr. Whitesell, see the Current Report on Form 8-Kfiled by Endeavor on April 3, 2024.

Employment Agreement with Mr. Lublin

Endeavor and Endeavor Operating Company entered into an employment agreement with Mr. Lublin, effective on May 3, 2021, which was subsequently amended on February 23, 2023 and November 3, 2023.

The term of Mr. Lublin's employment agreement expires on May 3, 2026. Mr. Lublin's employment agreement provides that to the extent not inconsistent with the business practices and policies applicable to Endeavor's employees, and if such activities do not interfere in any material respect with his duties and responsibilities, Mr. Lublin is permitted to serve as a member of the board of directors of any charitable, educational, religious, public interest or public service organization and any "for profit" entity approved by Endeavor's Board of Directors. During the term of Mr. Lublin's employment agreement, his principal place of employment is in the Los Angeles metropolitan area.

For fiscal year 2023, Mr. Lublin's employment agreement provided for an annual base salary of $2,250,000 (until Mr. Lublin's employment agreement expires) and an opportunity to earn an annual cash bonus

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of 100% of his annual base salary at the discretion of Endeavor's applicable governing body based on continued service and the attainment of certain performance metrics provided that Mr. Lublin's annual cash bonus for each year of the employment agreement term shall not be less than $750,000 (pro-ratedas applicable for the final year of the term).

In addition, Mr. Lublin is eligible to receive an annual equity award in respect of each calendar year based on his continued service and the attainment of certain annual performance metrics. This equity award is expected to represent an aggregate value ranging from 75% to 150% of the sum of Mr. Lublin's then-currentannual base salary and then-currenttarget annual cash bonus, with 50% of the award to be granted in the form of options (or similar awards), with vesting based on continued service over a three-yearperiod following the date of grant, and 50% of the award to be granted in the form of restricted stock units (or similar awards), with vesting based on continued service and/or the attainment of performance goals or metrics. However, pursuant to a letter agreement entered into on February 26, 2024, Mr. Lublin waived his eligibility to receive an annual equity award in respect of calendar year 2023 and received a one-timecash retention bonus of $4.05 million, subject to clawback upon certain terminations of employment. For more information, see page 66 of our Annual Report on Form 10-Kfor the fiscal year ended December 31, 2023.

Mr. Lublin's employment agreement further provides that he is entitled to participate in all of Endeavor's benefit plans and programs that are provided by us from time to time; provided, that to the extent that there are multiple benefit plans, Mr. Lublin will be entitled to participate in the same level of benefit plans as are available to the active employees of Endeavor, other than the Chief Executive Officer and Executive Chairman of Endeavor. The employment agreement provides for severance upon certain terminations of employment as described below under "Potential Payments upon Termination of Employment or Change in Control."

Under Mr. Lublin's employment agreement and/or his equity award agreement entered into on April 19, 2021 (which amended and restated the terms of his existing direct and indirect equity interests in Endeavor Operating Company), Mr. Lublin is subject to confidentiality and assignment of intellectual property provisions, and certain restrictive covenants, including non-disparagementrestrictions, that are effective during the period of his employment and continue until the earlier of (a) the second anniversary of the date on which Mr. Lublin and (if applicable) each of his affiliates ceases to own Endeavor's equity securities, directly or indirectly or (b) the second anniversary of the date on which Mr. Lublin's employment terminates for any reason.

Employment Agreement with Mr. Shapiro

Employment Agreement with Endeavor

During fiscal year 2023, Endeavor and Endeavor Operating Company were parties to an employment agreement with Mr. Shapiro that became effective on May 3, 2021 and was expected to expire on May 3, 2024. On February 26, 2024, Endeavor and Endeavor Operating Company entered into an amendment to his employment agreement that extended the term of his employment agreement through May 3, 2025. The description below describes the terms of his agreement as in effect in fiscal year 2023, to the extent implemented or otherwise applicable for fiscal year 2023, and the terms of his amendment to his employment agreement in 2024, to the extent applicable on a going forward basis.

Mr. Shapiro's employment agreement provides that to the extent not inconsistent with the business practices and policies applicable to Endeavor's employees, and if such activities do not interfere in any material respect with his duties and responsibilities, Mr. Shapiro is permitted to serve as a member of the board of directors of any charitable, educational, religious, public interest or public service organization and any "for profit" entity approved by Endeavor's Board of Directors and continue to serve in the board, advisory and ownership positions previously agreed to by Endeavor's Board of Directors. During the term of Mr. Shapiro's employment agreement, his principal place of employment is in New York, New York.

For fiscal year 2023, Mr. Shapiro's employment agreement provides for an annual base salary of $3,000,000 and an opportunity to earn an annual cash bonus with a target of 100% of his annual base salary at the

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discretion of Endeavor's Board of Directors or other applicable governing body based on continued service and the attainment of certain performance metrics provided, that Mr. Shapiro's annual bonus for any year of the employment agreement term shall not exceed 200% of his annual base salary, unless Endeavor's Board of Directors or other applicable governing body determines otherwise.

Mr. Shapiro's employment agreement further provides that he is entitled to participate in all of Endeavor's benefit plans and programs and perquisites that are provided by us from time to time to senior executives of Endeavor, other than those made available exclusively to the Chief Executive Officer and Executive Chairman of Endeavor.

In addition, Mr. Shapiro is eligible to receive annual equity awards in respect of each calendar year based on his continued service and the attainment of certain annual performance metrics. These equity awards are expected to represent an aggregate value ranging from the sum of 75% to 150% of Mr. Shapiro's then-currentannual base salary and then-currenttarget annual cash bonus, with 50% of the value of the award to be granted in the form of options (or similar awards), with vesting based on continued service over a three-yearperiod following the date of grant, and 50% of the award to be granted in the form of restricted stock units (or similar awards), with vesting based on continued service and/or the attainment of performance goals or metrics. However, pursuant to the most recent amendment to his employment agreement in 2024, Mr. Shapiro waived his eligibility to receive an annual equity award in respect of calendar years 2023 and 2024 and received a one-timecash retention bonus of $10.0 million, subject to clawback upon certain terminations of employment. For more information, see page 66 of our Annual Report on Form 10-Kfor the fiscal year ended December 31, 2023.

The employment agreement provides for severance upon certain terminations of employment as described below under "Potential Payments upon Termination of Employment or Change in Control."

Under Mr. Shapiro's employment agreement and/or his equity award agreement entered into on April 19, 2021 (which amended and restated the terms of his existing direct and indirect equity interests in Endeavor Operating Company), Mr. Shapiro is subject to confidentiality and assignment of intellectual property provisions and certain restrictive covenants, that are effective during the period of his employment and continue until second anniversary of the date on which Mr. Shapiro's employment terminates for any reason.

In connection with the execution of the Merger Agreement, Endeavor and Endeavor Operating Company entered into an amendment to Mr. Shapiro's employment agreement, effective as of April 2, 2024 (which provided for an increase in base salary and certain increased bonus compensation), and entered into a new amended and restated employment agreement with Mr. Shapiro, to be effective upon the consummation of the Merger (which provides his compensation terms following the Merger and supersede his existing employment agreement). For further information regarding the terms of Mr. Shapiro's employment agreement amendment and amended and restated employment agreement, see the Current Report on Form 8-Kfiled by Endeavor on April 3, 2024.

Employment Agreement with TKO

During fiscal year 2023, TKO was a party to an employment agreement with Mr. Shapiro that became effective on September 12, 2023 and was expected to expire on the first anniversary thereof. On January 21, 2024, TKO and Mr. Shapiro entered into a new employment agreement that superseded his prior agreement and expires on December 31, 2027. The description below describes the terms of his prior agreement, to the extent implemented or otherwise applicable for fiscal year 2023, and the terms of his new agreement, to the extent applicable on a going forward basis.

The TKO employment agreement provides that Mr. Shapiro shall serve as President and Chief Operating Officer of TKO and will report to Ariel Emanuel as Chief Executive Officer of TKO. Mr. Shapiro's employment agreement provides that he may continue to provide services in his role and position at Endeavor, Endeavor Operating Company, LLC and their respective subsidiaries, including as such roles and positions may be modified.

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Mr. Shapiro's employment agreement with TKO provides for an annual base salary of $2,500,000 for fiscal year 2023. Starting in fiscal year 2024, his base salary increased to $4,000,000, subject to increase from time to time as approved by TKO's governing body.

For fiscal year 2023, Mr. Shapiro is entitled to a TKO annual cash bonus equal to $4,000,000. For each remaining fiscal year during the term of Mr. Shapiro's employment agreement with TKO, Mr. Shapiro will be eligible to receive an annual bonus with a target bonus amount equal to $6,000,000. The amount of the annual bonus will be based on the achievement of performance metrics based on the TKO's performance (which may include EBITDA) and/or Mr. Shapiro's individual performance, as determined by the TKO's governing body in good faith after receipt of recommendations from TKO's Chief Executive Officer (after his consultation with Mr. Shapiro).

Mr. Shapiro's employment agreement with TKO additionally entitled Mr. Shapiro to receive a transaction bonus of $5,000,000, which was paid within 30 days following the TKO Transactions.

Pursuant to Mr. Shapiro's employment agreement with TKO, Mr. Shapiro received a one-timeequity award comprised of 60,651 restricted stock units of TKO on September 12, 2023 (the "2023 Award"), and a one-timeequity award comprised of 252,749 restricted stock units on January 22, 2024 (the "2024 Award"). The 2023 Award will vest on September 12, 2024 (the one-yearanniversary of the closing of the TKO Transactions) and the 2024 Award will vest in four equal installments on each of December 31, 2024, December 31, 2025, December 31, 2026, and December 31, 2027, in each case, subject to Mr. Shapiro's continued employment through such date or as described below under "Potential Payments upon Termination of Employment or Change in Control-Equity Vesting". For fiscal year 2024 and each subsequent fiscal year during the term of his TKO employment agreement, Mr. Shapiro will be eligible to receive an annual equity award with a target amount of $10,000,000. The amount of each equity award will be based on the achievement of performance metrics, continued service and/or other criteria, as determined by TKO governing body in good faith, and each equity award is expected to consist of TKO restricted stock units or similar awards that vest in three equal installments on each of the one-year,two-yearand three-year anniversaries of the date of grant, subject to the approval of TKO governing body, and subject to Mr. Shapiro's continued employment through each applicable vesting date or as described below under "Potential Payments upon Termination of Employment or Change in Control-Equity Vesting". The terms and conditions of Mr. Shapiro's equity awards (including the type, nature and vesting conditions thereof) will be determined in the sole discretion of TKO governing body. The value of Mr. Shapiro's equity awards may exceed the expected amount for the fiscal years described above.

Mr. Shapiro's employment agreement with TKO further provides that Mr. Shapiro is eligible to participate in all TKO employee benefit programs made available to all active employees; provided, that Mr. Shapiro shall have reasonable access to private aircraft available to TKO for business travel purposes (or first class or charter aircraft for business travel when not using any private aircraft available to TKO), be reimbursed for reasonable commuting expenses (including appropriate car service) and, commencing in fiscal year 2024, be reimbursed for an annual executive physical. Mr. Shapiro's employment agreement with TKO provides for severance upon certain terminations of employment as described below under "Potential Payments upon Termination of Employment or Change in Control-Potential Payments upon Termination of Employment or Change in Control."

Mr. Shapiro's employment agreement with TKO includes confidentiality and assignment of intellectual property provisions.

Mr. Shapiro's employment agreement with TKO provides that, if any payments to Mr. Shapiro would be considered "excess parachute payments" under Section 280G of the Code and subject to excise taxes under Section 4999 of the Code, such payments will be reduced to the extent such reduction would provide a greater net after-taxbenefit to Mr. Shapiro in relation to the net after-taxbenefit to Mr. Shapiro if all such payments had been made.

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Employment Agreement with Mr. Krauss

Employment Agreement with Endeavor

Endeavor and Endeavor Operating Company entered into an employment agreement with Mr. Krauss, effective on May 3, 2021, which was subsequently amended on December 21, 2023.

The term of Mr. Krauss' employment agreement expires on December 31, 2024. Mr. Krauss' employment agreement further provides that to the extent not inconsistent with the business practices and policies applicable to Endeavor's employees, and if such activities do not interfere in any material respect with his duties and responsibilities, Mr. Krauss is permitted to serve as a member of the board of directors of any charitable, educational, religious, public interest or public service organization and any "for profit" entity approved by Endeavor's Board of Directors. During the term of Mr. Krauss' employment agreement, his principal place of employment is in New York County.

For fiscal year 2023, Mr. Krauss' employment agreement provides for an annual base salary of $1,500,000, with an opportunity to earn an annual bonus with a target of 100% of base salary at the discretion of Endeavor's Board of Directors or other applicable governing body based on continued service and the attainment of certain performance metrics.

Mr. Krauss' employment agreement further provides that he is entitled to participate in all of Endeavor's benefit plans and programs that are provided by us from time to time; provided, that to the extent that there are multiple benefit plans, Mr. Krauss will be entitled to participate in the same level of benefit plans as are available to the active employees of Endeavor, other than the Chief Executive Officer and Executive Chairman of Endeavor.

In addition, Mr. Krauss is eligible to receive an annual equity award in respect of each calendar year based on his continued service and the attainment of certain annual performance metrics. This equity award is expected to represent an aggregate value ranging from 50% to 150% of Mr. Krauss's then-currentannual base salary, with 50% of the value of the award to be granted in the form of options (or similar awards), with vesting based on continued service over a three-yearperiod following the date of grant, and 50% of the value of the award to be granted in the form of restricted stock units (or similar awards), with vesting based on continued service and/or the attainment of performance goals or metrics. Mr. Krauss' employment agreement provides for severance upon certain terminations of employment as described below under "Potential Payments upon Termination of Employment or Change in Control." However, pursuant to a letter agreement entered into on February 26, 2024, Mr. Lublin waived his eligibility to receive an annual equity award in respect of calendar year 2023 and received a one-timecash retention bonus of $1.35 million, subject to clawback upon certain terminations of employment. For more information, the description in on page 66 of our Annual Report on Form 10-Kfor the fiscal year ended December 31, 2023.

Pursuant to his employment agreement and/or his equity award agreement entered into on April 19, 2021, (which amended and restated the terms of his existing direct and indirect equity interests in Endeavor Operating Company), Mr. Krauss is subject to confidentiality and assignment of intellectual property provisions and certain restrictive covenants, that are effective during the period of his employment and continue until the second anniversary of the date on which Mr. Krauss' employment terminates for any reason.

Employment Agreement with TKO

TKO was not party to an employment agreement with Mr. Krauss in fiscal year 2023. On January 12, 2024, TKO became a party to an employment agreement with Mr. Krauss that became effective on January 1, 2024 and expires on December 31, 2027.

Mr. Krauss's employment agreement with TKO provides that Mr. Krauss shall serve as Chief Legal and Administrative Officer of TKO and will report to TKO's President or Chief Operating Officer (currently Mark Shapiro) or any successor position thereto.

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Mr. Krauss's employment agreement provides for an annual base salary of $2,000,000, subject to increase from time to time as approved by TKO governing body.

For fiscal year 2023, Mr. Krauss will be eligible to receive a cash bonus, which amount will be determined by TKO governing body. Beginning in fiscal year 2024 and during the remainder of the term of Mr. Krauss' employment agreement with TKO, Mr. Krauss will be eligible to receive an annual bonus with a target bonus amount equal to $2,000,000. The amount of the annual bonus will be based on the achievement of performance metrics based on TKO performance, as determined by TKO governing body in good faith.

Mr. Krauss's employment agreement with TKO entitles Mr. Krauss to receive a one-timeequity award comprised of 39,109 restricted stock units of TKO (which was granted on January 12, 2024). This award will vest in four equal installments on each of December 31, 2024, December 31, 2025, December 31, 2026 and December 31, 2027, subject to Mr. Krauss's continued employment with TKO through each applicable vesting date or as described below under "Potential Payments upon Termination of Employment or Change in Control-Equity Vesting".

In addition, for fiscal year 2023, Mr. Krauss was eligible to receive an equity award in the amount of $1,216,438. Such equity award was granted in the first quarter of fiscal year 2024, and is comprised of 14,127 TKO restricted stock units that vest in three equal installments on each of the one-year,two-yearand three-year anniversaries of January 20, 2024, subject to Mr. Krauss' continued employment with TKO through each applicable vesting date or as described below under "Potential Payments upon Termination of Employment or Change in Control-Equity Vesting".

For each remaining fiscal year during the term of his employment agreement with TKO, Mr. Krauss will be eligible to receive an annual equity award with a target amount of $4,000,000. The amount of each equity award will be based on the achievement of performance metrics, continued service and/or other criteria, as determined by the TKO governing body in good faith, and each equity award is expected to consist of TKO restricted stock units or similar awards that vest in three equal installments on each of the one-year,two-yearand three-year anniversaries of the date of grant, subject to the approval of TKO governing body, and subject to Mr. Krauss continued employment through each applicable grant and vesting date, and subject to Mr. Krauss' continued employment through each applicable vesting date or as described below under "Potential Payments upon Termination of Employment or Change in Control-Equity Vesting".

Mr. Krauss' employment agreement with TKO includes confidentiality, assignment of intellectual property provisions and a certain non-competitionand non-solicitationrestrictions for up to two years following termination of employment, provided that, in the event of a termination without Cause or for Good Reason (each as defined in his TKO employment agreement), the non-competitionrestrictions shall only apply to the extent TKO continues to pay base salary to Mr. Krauss (and, in such case, such restrictions (and corresponding base salary payments) will not continue for more than six months following termination).

Mr. Krauss employment agreement with TKO provides that, if any payments to Mr. Krauss would be considered "excess parachute payments" under Section 280G of the Code and subject to excise taxes under Section 4999 of the Code, such payments will be reduced to the extent such reduction would provide a greater net after-taxbenefit to Mr. Krauss in relation to the net after-taxbenefit to Mr. Krauss if all such payments had been made.

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Outstanding Equity Awards at 2023 Fiscal Year End

The following table provides information about the outstanding equity awards held by our named executive officers as of December 31, 2023. For a discussion of the treatment of outstanding equity awards in connection with the transactions contemplated by the Merger Agreement, see the Current Report on Form 8-Kfiled by Endeavor on April 3, 2024

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Stock Vested During Fiscal Year 2023

The following table sets forth information regarding shares of restricted stock and restricted stock units that vested during fiscal year 2023 for each of the named executive officers. No options were exercised by the named executive officers during fiscal year 2023.

Potential Payments upon Termination of Employment or Change in Control

Severance Payments and Benefits under Employment Agreements with Endeavor

All of our named executive officers are entitled to certain severance benefits following certain terminations of employment. Such severance benefits, as of December 31, 2023, are described directly below. No severance payments or benefits are payable in the event of a termination for cause. For a discussion of certain severance benefits for certain of our named executive officers following the execution of the Merger Agreement, see the Current Report on Form 8-Kfiled by Endeavor on April 3, 2024.

Ariel Emanuel

If Mr. Emanuel's employment is terminated without cause or due to a resignation for good reason, he is entitled to receive any unpaid annual bonus for the year prior to the year of termination, which amount shall be

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paid in a lump sum within thirty days of Mr. Emanuel's termination of employment, and an aggregate amount equal to two (2) times the sum of (x) his base salary and (y) his target bonus, which amount shall be paid ratably in monthly installments over the twenty-fourmonth period following the date of Mr. Emanuel's termination of employment. Payment of the salary and target bonus is subject to the execution of a release of claims. Further, if Mr. Emanuel's employment is terminated due to death or disability, he will be entitled to receive any unpaid annual bonus for the year prior to the year of termination and a pro-rataportion of the target bonus for the year of termination.

Patrick Whitesell

If Mr. Whitesell's employment is terminated without cause or due to a resignation for good reason, he is entitled to receive any unpaid guaranteed bonus for the year prior to the year of termination, which amount shall be paid in a lump sum within thirty days of Mr. Whitesell's termination of employment, and an aggregate amount equal to two (2) times the sum of (x) his base salary and (y) his guaranteed bonus, which amount shall be paid ratably in monthly installments over the twenty-fourmonth period following the date of Mr. Whitesell's termination of employment. Payment of the salary and guaranteed bonus is subject to the execution of a release of claims. Further, if Mr. Whitesell's employment is terminated due to death or disability, he will be entitled to receive any unpaid guaranteed bonus for the year prior to the year of termination and a pro-rataportion of the guaranteed bonus for the year of termination.

Jason Lublin

If Mr. Lublin's employment is terminated without cause or due to a resignation for good reason, he is entitled to (i) continued payment of his base salary commencing on the date of termination and ending on the later of (x) the end of his employment term (i.e., May 3, 2026) and (y) the first anniversary of the termination date (such period, the "Lublin Severance Period") and (ii) payment of his guaranteed bonus for each calendar year during the Lublin Severance Period (prorated for any partial year at the end of the Lublin Severance Period). If Mr. Lublin's employment is terminated due to an employer non-renewal, he shall be entitled to (i) continued payment of his base salary as though he had remained employed for twelve months following termination and (ii) payment of a full year's guaranteed bonus under his agreement (i.e., $750,000). If Mr. Lublin's employment is terminated due to death or disability, he shall be entitled to payment of his target annual bonus for the fiscal year of termination, pro-rated for the portion of the fiscal year he was employed. If Mr. Lublin's employment is terminated in fiscal year 2026 following May 3, 2026 and other than as a result of an employer non-renewal or by the Company for cause, he shall only be entitled to payment of his annual bonus for fiscal year 2026 based on actual performance, pro-rated for the portion of the fiscal year he was employed. Payment of the severance benefits is subject to the execution of a release of claims.

Mark Shapiro

If Mr. Shapiro's employment is terminated without cause or due to a resignation for good reason, he is entitled to (i) continued payment of his base salary commencing on the date of termination and ending on the later of (x) the end of his employment term (i.e., May 3, 2025) and (y) the second anniversary of the termination date (such period, the "Shapiro Severance Period") and (ii) payment of his target bonus for each calendar year during the Shapiro Severance Period (prorated for any partial year at the end of the Shapiro Severance Period). If Mr. Shapiro's employment is terminated due to an employer non-renewal, he shall be entitled to (i) continued payment of his base salary as though he had remained employed for twenty-four months following termination and (ii) payment of (x) the annual bonus in the year prior to which termination occurs (the "Prior Year Bonus") multiplied by two, plus (y) a prorated portion of the Prior Year Bonus for any partial year at the end of the twenty-four month period following such Mr. Shapiro's termination. If Mr. Shapiro's employment is terminated due to death or disability, he shall be entitled to payment of his target annual bonus for the fiscal year of termination, pro-rated for the portion of the fiscal year he was employed. If Mr. Shapiro's employment is terminated in fiscal year 2025 following the fourth anniversary of Endeavor's IPO and other than as a result of an employer non-renewal or by the Company for cause, he shall only be entitled to payment of his annual bonus for

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fiscal year 2025 based on actual performance, pro-rated for the portion of the fiscal year he was employed. Payment of the severance benefits is subject to the execution of a release of claims.

Seth Krauss

If Mr. Krauss' employment is terminated without cause or due to a resignation for good reason, he is entitled to (i) continued payment of his base salary as though he had remained employed through the later of (A) December 31, 2024, and (B) the first anniversary of the date of termination, and (ii) payment equal to the target bonus for the calendar year in which termination occurs. If Mr. Krauss' employment is terminated due to an employer non-renewal,he shall be entitled to continued payment of his base salary as though he had remained employed for six months following termination.

Severance Payments and Benefits under Employment Agreements with TKO

Our following named executive officers are entitled to certain severance benefits following certain terminations of employment with TKO. Such severance benefits are described directly below. No severance payments or benefits are payable in the event of a termination for cause.

Ariel Emanuel

If Mr. Emanuel's employment with TKO is terminated without "cause" or due to a resignation for "good reason" he is entitled to (i) any unpaid annual bonus for the year prior to the year of termination, which shall be paid in a lump sum within thirty days after Mr. Emanuel's termination of employment, and (ii) an amount equal to two times the sum of (x) his base salary and (y) his target bonus, which shall be paid ratably in monthly installments over the twenty-four month period following the date of Mr. Emanuel's termination of employment.

If Mr. Emanuel's employment with TKO is terminated due to death or disability, he will be entitled to receive any unpaid annual bonus for the year prior to the year of termination and a pro-rataportion of the target bonus for the year of termination.

Any severance that Mr. Emanuel is entitled to receive upon his termination by TKO without cause or due to a resignation for good reason is subject to Mr. Emanuel's execution and non-revocationof a release of claims.

Mark Shapiro

Employment Agreement for Fiscal Year 2023

On and prior to December 31, 2023, Mr. Shapiro was eligible for certain severance under his then-current employment agreement with TKO, which is described immediately below. Mr. Shapiro did not, however, experience a termination of employment with TKO in fiscal year 2023. If Mr. Shapiro's employment with TKO is terminated without "cause" or due to a resignation for "good reason" prior to the end of such employment term, he is entitled to (i) continued payment of his base salary commencing on the date of termination and ending on September 12, 2025, (ii) payment of his target bonus for the period ending on September 12, 2024 (less any bonus previously paid for that period) and (iii) an amount equal to his target bonus for each calendar year commencing with 2024 and ending on September 12, 2025 (pro-ratedfor any partial year).

If Mr. Shapiro's employment with TKO is terminated due to an employer non-renewal(as defined in his TKO employment agreement), Mr. Shapiro shall be entitled to (i) continued payment of his base salary as though he had remained employed for twelve months following the termination date and (ii) payment of an amount equal to his target annual bonus for each calendar year during the period commencing with the calendar year in which the date of termination occurs and ending on the twelve month period immediately following Mr. Shapiro's termination of employment with TKO (pro-ratedfor any partial year).

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If Mr. Shapiro terminates his employment with TKO for any reason within 30 days following the end of the term of the employment agreement with TKO for any reason other than an employer non-renewal,as long as (i) at the time of such termination, TKO has not terminated Mr. Shapiro for cause and (ii) Mr. Shapiro continues to provide services to TKO through the thirtieth day following the end of the term of the employment agreement with TKO, Mr. Shapiro shall be entitled to (i) continued payment of his base salary for six months following termination and (ii) an amount equal to fifty percent of his target annual bonus.

If Mr. Shapiro's employment with TKO is terminated due to death or disability prior to the end of his employment term, he shall be entitled to payment of his target annual bonus for his employment term, pro-ratedfor the portion of his employment term in which he was employed.

Any severance that Mr. Shapiro is entitled to receive upon his termination by TKO without cause, due to a resignation for good reason or due to an employer non-renewalis subject to Mr. Shapiro's execution and non-revocationof a release of claims.

Employment Agreement following Fiscal Year 2023

On and after January 1, 2024, Mr. Shapiro was eligible for certain severance under his new employment agreement with TKO, which is described immediately below. If Mr. Shapiro's employment with TKO is terminated without "cause" or due to a resignation for "good reason" prior to the end of the term of his employment agreement with TKO, Mr. Shapiro is entitled to (i) continued payment of his base salary through the later of (a) December 31, 2027 and (b) the second anniversary of the date of termination, and (ii) payment of his target bonus for each calendar year commencing with the calendar year in which the date of termination occurs and ending on the later of (a) December 31, 2027 and (b) the second anniversary of the date of termination (pro-ratedfor any partial year).

If Mr. Shapiro's employment with TKO is terminated due to an employer non-renewal(as defined in his TKO employment agreement), Mr. Shapiro shall be entitled to (i) continued payment of his base salary through the second anniversary of the date of termination, (ii) an amount equal to his target bonus for fiscal year 2027 (less any annual bonus paid prior to termination with respect to 2027), and (iii) the amount equal to his target bonus for each calendar year during the period commencing with 2028 and ending on the second anniversary of the date of termination (pro-ratedfor any partial year).

If Mr. Shapiro terminates his employment with TKO for any reason within 30 days following the end of the term of his TKO employment agreement for any reason other than an employer non-renewal,as long as (a) at the time of such termination, TKO has not terminated Mr. Shapiro for cause and (b) Mr. Shapiro continues to provide services to TKO through the thirtieth day following the end of the term of his TKO employment agreement ("Employee Non-Renewal"),Mr. Shapiro shall be entitled to (i) continued payment of his base salary for six months following termination, (ii) an amount equal to his target bonus for fiscal year 2027 (less any annual bonus paid prior to termination with respect to 2027), and (iii) an amount equal to fifty percent of his target bonus for fiscal year 2028.

If Mr. Shapiro's employment with TKO is terminated due to death or disability prior to the end of the term of his TKO employment agreement, Mr. Shapiro shall be entitled to payment of his target bonus for the fiscal year in which the termination of employment occurs, pro-ratedfor the portion of his employment term in which he was employed.

Any severance that Mr. Shapiro is entitled to receive upon his termination by TKO without "cause", due to a resignation for "good reason", due to an employer non-renewalor due to an Employee Non-Renewalis subject to Mr. Shapiro's execution and non-revocationof a release of claims.

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Seth Krauss

Mr. Krauss was not entitled to receive any severance upon any termination of employment with TKO, to the extent such termination occurred in fiscal year 2023. Commencing in fiscal year 2024, Mr. Krauss became eligible for certain severance payments, which are described herein. Pursuant to Mr. Krauss' employment agreement with TKO effective January 1, 2024, if Mr. Krauss's employment with TKO is terminated without "cause" or due to a resignation for "good reason" prior to the end of his term, Mr. Krauss is entitled to (i) continued payment of his base salary through the later of (a) December 31, 2027 and (b) the first anniversary of the date of termination and (ii) payment of his target bonus for the calendar year in which the termination occurs.

If Mr. Krauss's employment with TKO is terminated due to an employer non-renewal(as defined in his TKO employment agreement), Mr. Krauss shall be entitled to continued payment of his base salary through the first anniversary of the date of termination.

Any severance that Mr. Krauss is entitled to receive upon his termination by TKO without cause, due to a resignation for good reason or due to an employer non-renewalis subject to Mr. Krauss's execution and non-revocationof a release of claims.

Equity Vesting

Ariel Emanuel

Equity Vesting at Endeavor

If Mr. Emanuel's employment with Endeavor is terminated without cause or due to a resignation for good reason, his unvested Endeavor equity awards subject to time-basedvesting (including any unvested shares received upon settlement of performance-vestingrestricted stock units) will become vested. If Mr. Emanuel's employment is terminated due to his death or disability, the vesting of one-thirdof his Endeavor time-basedequity awards will be accelerated.

If Mr. Emanuel's employment with Endeavor is terminated for any reason (other than for cause or due to a resignation without good reason), he will be entitled to receive Endeavor shares underlying a prorated portion of his performance-vestingrestricted stock units based on actual performance through termination and any shares so received shall be fully vested upon grant.

In the event of a change in control of Endeavor, his Endeavor equity awards subject to time-basedvesting will become vested.

Equity Vesting at TKO

If Mr. Emanuel's employment with TKO is terminated without cause (as defined in his TKO employment agreement) or due to a resignation for good reason (as defined in his TKO employment agreement), his TKO equity subject solely time-based vesting will become vested.

In the event of a change of control of TKO, his TKO equity awards subject to time-based vesting will become vested.

Patrick Whitesell

If Mr. Whitesell's employment for any reason (other than for cause or due to a resignation without good reason), he will be entitled to receive shares underlying a prorated portion of his performance-vestingrestricted stock units based on actual performance through termination and any shares so received shall be fully vested upon grant.

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Jason Lublin

If Mr. Lublin's employment is terminated without cause or due to a resignation for good reason, his annual equity awards subject to time-basedvesting will become vested.

Mark Shapiro

Equity Vesting at Endeavor

If Mr. Shapiro's employment with Endeavor is terminated without cause or due to a resignation for good reason, his annual Endeavor equity awards subject to time-basedvesting will become vested.

Equity Vesting at TKO

For fiscal year 2023, if Mr. Shapiro's employment is terminated by TKO without cause (as defined in his TKO employment agreement) or due to a resignation for good reason (as defined in his TKO employment agreement) prior to the end of his employment term, any unvested portion of Mr. Shapiro's one-timeequity award will accelerate and vest in full. Such equity award will also accelerate and vest in full upon a change of control of TKO, subject to Mr. Shapiro's continued service with TKO through the consummation of such change of control of TKO.

Following fiscal year 2023, if Mr. Shapiro's employment with TKO is terminated by TKO without cause or due to a resignation for good reason prior to the end of his employment term with TKO, or if Mr. Shapiro's employment with TKO is terminated by TKO without cause in connection with an employer non-renewal,any unvested portion of Mr. Shapiro's equity awards that are subject to vesting based on continued service will accelerate and vest in full. If Mr. Shapiro terminates his employment with TKO for any reason within 30 days following the end of the term of his TKO employment agreement for any reason other than an employer non-renewal,as long as (a) at the time of such termination, TKO has not terminated Mr. Shapiro for cause and (b) Mr. Shapiro continues to provide services to TKO through the thirtieth day following the end of the term of the his employment agreement, the unvested portion of Mr. Shapiro's equity awards that is subject to vesting based on continued service that would have become vested had Mr. Shapiro remained employed for six months following termination, will accelerate and vest in full. Additionally, any unvested portion of Mr. Shapiro's equity awards that is subject solely to vesting based on continued service will accelerate and vest in full upon a change of control of TKO, subject to Mr. Shapiro's continued service with TKO through the consummation of such change of control of TKO. Further, to the extent TKO governing body determines that any annual equity awards subject to vesting based on performance goals cannot be equitably adjusted in connection with a change of control of TKO, such awards shall also accelerate and vest in full upon a change of control of TKO (based on actual or target performance as determined by TKO governing body), subject to Mr. Shapiro's continued service with TKO through the consummation of such change of control.

Seth Krauss

Equity Vesting at Endeavor

If Mr. Krauss' employment with Endeavor is terminated without cause or due to a resignation for good reason, his annual Endeavor equity awards subject to time-basedvesting will become vested.

Equity Vesting at TKO

Mr. Krauss did not hold any equity awards from TKO in fiscal year 2023. Pursuant to Mr. Krauss' employment agreement with TKO effective January 1, 2024, if Mr. Krauss's employment with TKO is terminated without "cause" or due to a resignation for "good reason" prior to the end of his term, or if Mr. Krauss's employment is terminated by TKO without cause in connection with an employer non-renewal,any unvested portion of Mr. Krauss's equity awards that are subject solely to vesting based on continued service will accelerate and vest in full.

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Definitions of "Cause" and "Good Reason"

For purposes of Messrs. Emanuel's and Whitesell's employment agreements and their equity awards at Endeavor, "cause" generally means: (i) conduct constituting embezzlement, fraud or material misappropriation; (ii) conviction of a felony; (iii) conduct constituting a financial crime, material act of dishonesty or material unethical business conduct; (iv) unauthorized disclosure or use of confidential information; (v) material breach of restrictive covenants applicable to the named executive officer; or (vi) material breach of any material obligations under a named executive officer's employment agreement, that in each case (other than clause (ii)) results in material harm to Endeavor Operating Company and its affiliates. For purposes of the cause definition, any breach of restrictive covenants by Messrs. Emanuel or Whitesell must be made knowingly and any breach of a material obligation under their respective employment agreements must be made willfully.

For purposes of the employment agreements and equity awards at Endeavor of Messrs. Lublin, Shapiro and Krauss, "cause" generally means: (i) conduct constituting embezzlement, fraud or material misappropriation; (ii) conviction of (or in the case of Mr. Shapiro, conduct constituting) a felony; (iii) conviction or indictment of a financial crime, material act of dishonesty or material unethical business conduct; (iv) material breach of restrictive covenants applicable to the named executive officer; (v) unauthorized disclosure or use of confidential information; (vi) material breach of any material obligations under a named executive officer's employment agreement; (vii) material violation of written policies; (viii) use of alcohol or drugs that materially interferes with performance; or (ix) conduct that brings the named executive employer or Endeavor Operating Company and its affiliates into public disrepute.

For purposes of the named executive officers' employment agreements and equity awards at Endeavor, "good reason" generally means (i) a material breach by Endeavor Operating Company of any material obligation under such named executive officer's employment agreement and, (ii) for Messrs. Emanuel, Whitesell and Lublin, the relocation of such named executive officer's principal place of employment outside of the Los Angeles metropolitan area, and for Mr. Krauss, the relocation of his principal place of employment outside of New York County. In addition to the foregoing, the definition of good reason for Messrs. Emanuel and Whitesell includes (i) a material diminution in duties, authorities or responsibilities as chief executive officer or executive chairman, respectively (including, prior to a Sale Transaction pursuant to which Endeavor Operating Company becomes a business unit of a larger parent organization, any requirement that he report to someone other than Endeavor's Board of Directors), (ii) the assignment of duties materially inconsistent with his position or status with Endeavor Operating Company or (iii) the failure of Endeavor Operating Company to obtain from an acquirer of all or substantially all of its assets an assumption of Endeavor Operating Company's obligations under the terms of their respective employment agreements.

For purposes of Mr. Emanuel's employment agreement and equity awards at TKO, "cause" generally means: Mr. Emanuel's (i) conduct constituting embezzlement, fraud, or material misappropriation, whether or not related to his employment with TKO, in each case that results in material harm to TKO or its subsidiaries; (ii) conviction of a felony, whether or not related to his employment with TKO; (iii) conduct constituting a financial crime, material act of dishonesty or material unethical business conduct, involving TKO or any of its subsidiaries, in each case that results in material harm to TKO or any of its subsidiaries; (iv) unauthorized disclosure or use of confidential information or material breach of the provision of his employment agreement with TKO providing for assignment of intellectual property, in each case that results in material harm to TKO or any of its subsidiaries; (v) material and knowing breach of any applicable restrictive covenants set forth in any agreement between Mr. Emanuel and TKO or any of its subsidiaries; or (vi) willful and material breach of any other material obligation under his employment agreement with TKO, in each case that results in material harm to TKO or any of its subsidiaries.

For purposes of Messrs. Shapiro's and Krauss's employment agreements and equity awards at TKO, "cause" generally means: the named executive officer's (i) conduct constituting embezzlement, fraud, or material misappropriation, whether or not related to the named executive officer's employment with TKO; (ii) conduct constituting a felony, whether or not related to the named executive officer's employment with TKO;

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(iii) conviction or indictment of a financial crime, material act of dishonesty or material unethical business conduct; (iv) unauthorized disclosure or use of confidential information or material breach of provision of his employment agreement with TKO providing for assignment of intellectual property, in each case that results in material harm to TKO or any of its subsidiaries; (v) material breach any applicable restrictive covenants set forth in any agreement between the named executive officer and TKO or any of its subsidiaries; (vi) material breach of any other material obligation under the named executive officer's employment agreement at TKO; (vii) material violation of TKO's written policies that is detrimental to the best interests of TKO or any of its subsidiaries; (viii) use of alcohol or drugs that materially interferes with the performance of the named executive officer's duties; or (ix) conduct that brings the named executive officer or TKO or any of its subsidiaries into public disrepute, scandal, contempt or ridicule that shocks, insults or offends a substantial portion or group of the community or reflects unfavorably on the named executive officer, TKO or any of its subsidiaries.

For Mr. Emanuel, "good reason" means the occurrence of, without Mr. Emanuel's consent, (i) a material diminution of his duties, responsibilities or authorities as chief executive officer of TKO (including any requirement that Mr. Emanuel report to someone other than the board of directors of TKO), (ii) the assignment of duties inconsistent with Mr. Emanuel's position, (iii) the material breach by TKO of any terms under Mr. Emanuel's employment agreement with TKO, (iv) the relocation of Mr. Emanuel's principal place of employment outside of the Los Angeles Metropolitan area or (iv) the failure of TKO to obtain the assumption in writing of its obligations under Mr. Emanuel's employment agreement with TKO by any successor to all or substantially all of the assets of TKO.

For Mr. Shapiro, "good reason" means, the occurrence of, without Mr. Shapiro's consent, the material breach by TKO of any terms under Mr. Shapiro's employment agreement with TKO (including Mr. Shapiro's ceasing to report directly to Mr. Emanuel as Chief Executive Officer of TKO, except in the event of the termination of Mr. Emanuel's employment with TKO as a result of Mr. Emanuel's death or disability).

For Mr. Krauss, "good reason" means, the occurrence of, without Mr. Krauss's consent, the material breach by TKO of any terms under Mr. Krauss's employment agreement with TKO, including any requirement for Mr. Krauss to relocate his principal place of employment outside of New York County without Mr. Krauss's consent.

Definition of "Employer Non-Renewal"

For purposes of Messrs. Lublin's, Shapiro's and Krauss' employment agreements at Endeavor, "employer non-renewal"generally means the occurrence of both of the following: (i) Endeavor Operating Company's failure to furnish a bona fide offer of employment which provides for annual cash and equity compensation opportunities that are substantially comparable, in the aggregate, to the annual cash and equity compensation opportunities the named executive officer received hereunder (excluding from such comparison, any minimum or guaranteed bonuses or equity awards in connection with Endeavor's IPO) at any time prior to the expiration of the term of the employment agreement (or for Mr. Krauss, by August 31, 2024) and (ii) the termination of the named executive officer's employment by Endeavor Operating Company without cause or by the named executive officer for any reason within the thirty (30) day period after the expiration of the term of the employment agreement.

For purposes of Mr. Shapiro's employment agreement at TKO, effective fiscal year 2023, "employer non-renewal"means before the end of the term of Mr. Shapiro's employment agreement with TKO, TKO fails to give Mr. Shapiro a bona fide offer of employment that provides compensation that is substantially comparable to the compensation provided under his employment agreement with TKO and an annual target equity award opportunity equal to at least $7,000,000 (excluding his one-timeequity award of $6,250,000 and one-timecash award of $5,000,000, each as described above in "Employment Agreements-Employment Agreement with Mr. Shapiro-Employment Agreement with TKO"), and Mr. Shapiro's employment is then either terminated by TKO without cause or by Mr. Shapiro for any reason.

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Following fiscal year 2023, for purposes of Mr. Shapiro's employment agreement at TKO, "employer non-renewal"means before the end of the term of Mr. Shapiro's employment agreement with TKO, TKO fails to give Mr. Shapiro a bona fide offer of renewal of his employment on terms that provide compensation that is substantially comparable to the compensation provided under his employment agreement with TKO (excluding annual equity award with respect of fiscal year 2023 so long as such offer includes an initial equity award equal at least $5,000,000, each as described above in "Employment Agreements-Employment Agreement with Mr. Shapiro-Employment Agreement with TKO"), and Mr. Shapiro's employment is then either timely terminated by TKO without cause or by Mr. Shapiro for any reason.

For Mr. Krauss, "employer non-renewal"means before the end of the term of Mr. Krauss's employment agreement, TKO fails to give Mr. Krauss a bona fide offer of renewal of his employment on terms that provide compensation that is substantially comparable to the compensation provided under his employment agreement with TKO (excluding, for the avoidance of doubt, the one-timeinitial equity award), and Mr. Krauss's employment with TKO is then either timely terminated by TKO without cause or by Mr. Krauss for any reason.

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Estimated Payments Upon Termination of Employment or Change in Control

Estimated Payments Upon Termination of Employment or Change in Control at Endeavor

The table below shows the severance payments and benefits that each named executive officer would receive from Endeavor upon (1) death or disability, (2) termination of employment at Endeavor without cause or a resignation of employment at Endeavor with good reason, (3) termination of employment at Endeavor for cause or a resignation of employment at Endeavor without good reason and (4) a change in control at Endeavor. The amounts are calculated as if the date of termination of employment at Endeavor and change in control at Endeavor occurred on December 31, 2023. For a discussion of certain severance and change in control benefits for certain of our named executive officers following the execution of the Merger Agreement, see the Current Report on Form 8-Kfiled by Endeavor on April 3, 2024.

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Estimated Payments Upon Termination of Employment at TKO

The table below shows the severance payments and benefits that each named executive officer that is also employed and eligible for severance at TKO would receive upon (1) death or disability, (2) termination of employment at TKO without cause or a resignation of employment at TKO with good reason, and (3) termination of employment at TKO for cause or a resignation of employment at TKO without good reason. The amounts are calculated as if the date of termination of employment at TKO occurred on December 31, 2023.