FOX CORPORATION ANNOUNCES NEW ELEVEN-YEAR MEDIA RIGHTS AGREEMENT WITH THE NATIONAL FOOTBALL LEAGUE

FOX Remains Exclusive Home of Top-Rated NFC Football Package Through 2033

Expanded Digital Rights Provide FOX with New Opportunities and Flexibility

FOX to Broadcast New and Exclusive Holiday Games & Air Four of the Next 12 Super Bowls

Los Angeles, CA - March 18, 2021 - Fox Corporation (Nasdaq: FOXA, FOX) today announced a new and expanded media rights agreement with the National Football League that runs through the 2033 season. The 11-year[i] agreement extends FOX's coverage of premier National Football Conference (NFC) games, creates new and exclusive holiday games on FOX, and expands FOX's digital rights to enable future direct-to-consumer opportunities as well as NFL programming on FOX's AVOD streaming service Tubi. Additionally, FOX will not extend its Thursday Night Football contract beyond its current expiration after the 2022 NFL season.

"Today we extend our 27-year partnership with the NFL and solidify the foundation of our marquee sports portfolio beyond the end of the decade. In addition to maintaining our leading Sunday afternoon NFC package, we are pleased to broaden our deal to include new digital rights that provide us with the flexibility to deliver NFL on FOX to customers in expanded and innovative ways," said Executive Chairman and Chief Executive Officer Lachlan Murdoch. "This long-term agreement ensures that we will continue to deliver the best in football coverage to our viewers while also strengthening and providing optionality to our business."

Among the highlights of the new agreement are:

FOX will create an NFL experience on Tubi consisting of premiere VOD as well as condensed games throughout the NFL season

FOX extended its rights to continue America's leading free-to-play wagering game, FOX Bet Super 6

FOX Bet will receive authorized sportsbook operator status if, and when, the NFL approves official sportsbook operators for its officially licensed intellectual property

FOX will broadcast four of the next 12 Super Bowls, including the games in 2023, 2025, 2029 and 2033

FOX will produce special Christmas Day games as the schedule allows

FOX will continue to be the exclusive home of the NFC Championship game

FOX increased its NFL footage rights to use across linear and digital programming

FOX broadened its presentation rights using interactivity and alternate feeds

FOX Deportes gained additional Spanish language rights

FOX is America's No. 1 network for the NFL; its flagship America's Game of the Week has been the most-watched show in all of television for the past 12 seasons and the most-watched NFL window for the past 20 seasons.

The NFC package that FOX will continue to broadcast is strategically aligned with the locations of FOX's owned and operated television stations. FOX Television Stations owns and operates the FOX affiliate in 14 of the 16 NFC markets.

About Fox Corporation

Fox Corporation produces and distributes compelling news, sports and entertainment content through its iconic domestic brands including: FOX News Media, FOX Sports, FOX Entertainment and FOX Television Stations. These brands hold cultural significance with consumers and commercial importance for distributors and advertisers. The breadth and depth of our footprint allows us to deliver content that engages and informs audiences, develop deeper consumer relationships and create more compelling product offerings. FOX maintains an impressive track record of news, sports, and entertainment industry success that shapes our strategy to capitalize on existing strengths and invest in new initiatives. For more information about Fox Corporation, please visit www.FoxCorporation.com.

[i] The NFL has a one-time termination right after the seventh year, which covers seasons 2030 - 2033 inclusive.