October 2013

Forward-Looking Statements

Certain statements in this presentation may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including long-term projections of Live Nation’s financial results. We wish to caution you that there are some known and unknown factors that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements, including but not limited to operational challenges in achieving strategic objectives and executing on our plans, competition in our industry, the risk that our markets do not evolve as anticipated, the risk that consumer demand weakens and other challenges associated with any economic slowdown. When no source is provided, numbers are based on management

projections / estimates.

We refer you to the documents that we file from time to time with the SEC, specifically the section titled “Risk Factors” of our most recent Annual Report filed on Form 10-K and Quarterly Reports on Form 10-Q, which contain and identify other important factors that could cause actual results to differ materially from those contained in our projections or forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this presentation. All subsequent written and oral forward-looking statements by or concerning Live Nation Entertainment are expressly qualified in their entirety by the cautionary statements above. We do not undertake any obligation to publicly update or revise any forward-looking statements because of new information, future events or otherwise.

Non-GAAP Financial Measures

This presentation contains certain non-GAAP financial measures as defined by SEC Regulation G. An explanation of why management believes that these non-GAAP financial measures provide useful information to investors is provided below.

Adjusted Operating Income (Loss), or AOI, is a non-GAAP financial measure that the company defines as operating income (loss) before acquisition expenses (including transaction costs, changes in the fair value of accrued acquisition-related contingent consideration arrangements, payments under the Azoff Trust note and acquisition-related severance), depreciation and amortization (including goodwill impairment), loss (gain) on disposal of operating assets and non-cash and certain stock-based

compensation expense (including expense associated with grants of certain stock-based awards which were classified as liabilities). The company uses AOI to evaluate the performance of its operating segments. The company believes that information about AOI assists investors by allowing them to evaluate changes in the operating results of the portfolio of the businesses separate from non-operational factors that affect net income, thus providing insights into both operations and the other factors that affect reported results. AOI is not calculated or presented in accordance with GAAP. A limitation of the use of AOI as a performance measure is that it does not reflect the periodic costs of certain amortizing assets used in generating revenue in the company’s business. Accordingly, AOI should be considered in addition to, and not as a substitute for, operating income (loss), net income (loss), and other measures of financial performance reported in accordance with GAAP. Furthermore, this measure may vary among other companies; thus, AOI as presented herein may not be comparable to similarly titled measures of other companies.

Free Cash Flow is a non-GAAP financial measure that the company defines as Adjusted Operating Income (Loss) less maintenance capital expenditures, less net cash interest expense, less cash taxes, less net distributions to noncontrolling interest partners, plus distributions from investments in nonconsolidated affiliates net of contributions to investments in nonconsolidated affiliates. The company uses free cash flow, among other measures, to evaluate the ability of its operations to generate cash that is available for purposes other than maintenance capital expenditures. The company believes that information about free cash flow provides investors with an important perspective on the cash available to service debt and make acquisitions. Free cash flow is not calculated or presented in accordance with GAAP. A limitation of the use of free cash flow as a performance measure is that it does not necessarily represent funds available for operations and is not necessarily a measure of the company’s ability to fund its cash needs. Accordingly, free cash flow should be considered in addition to, and not as a substitute for, operating income (loss) and other measures of financial performance reported in accordance with GAAP. Furthermore, this measure may vary among other companies; thus, free cash flow as

presented herein may not be comparable to similarly titled measures of other companies. 1

2

Growing global concerts industry

0

2

4

6

8

10

12

14

$ Billion

North

America

Western

Europe

Japan &

Australia

Emerging

Markets

2012 1998

$1.8B

$2.6B

$4.9B

$4.7B

$14B

Global

Market

+10% CAGR

3

Globalization of Rihanna’s music fans

Western

Europe

North

America

Rest of

World

Japan &

Australia

Percent of fans

56

40

17

20

27

25

23

30

53

1

3

5

4

2013 continues Live Nation concerts growth

z

+27%

Note: Comparison is of tickets sold as of September 30th for events playing off in that year

2012 2013

North America

Europe

Asia

+63%

2012 2013

+29%

2012 2013

+24%

2012 2013

Top 10 tours driven by young artists

1

6

1

7

2

8

3

9

4

1

5

0

Pink Rihanna Maroon 5 Jason Aldean Luke Bryan

Fleetwood Mac Beyoncé Depeche Mode One Direction Kid Rock

5

Over 800 Sponsors

70% MARGIN

6

Live Nation concert flywheel

20% MARGIN

Over 230 Artists

Note: Margin for Artist Nation is for management business only.

Margin for Venues is for on-site ancillaries.

10M Fans

3M Fans

55M Fans

20% MARGIN

100M Tickets

12M Tickets

450M Tickets

50% MARGIN

55M Fans

21M Fans

21M Fans

17M Fans

7

Expanding concerts scale

Top 15 NA Festivals Attendance (in K)

Expanded NA festival portfolio

— Voodoo Experience

— Music Midtown — Made In America

— Sasquatch

— Bottlerock — Governor’s Ball — Electric Forest

— TomorrowWorld

— Bonnaroo

— Outside Lands

— Austin City Limits

— Lollapalooza

— Electric Daisy Carnival

— Ultra

— Coachella

2012 2013 2011

Expanded EDM portfolio

+95%

2012 2013

1.4

2.6

Strong EU festivals portfolio

— Lowlands — Wireless

— Creamfields

— Tomorrowland

— Pinkpop

— Pukkelpop

— T in the Park

— Download

— Exit

— V Festival

— Werchter

— Sziget

— Roskilde

— Reading / Leeds

2012 2013 2011

— Glastonbury

Top 15 EU Festivals Attendance (in K) LN EDM Attendance (in MM)

92 92 92 100

42 40 80 80 180

225

270

329

150

225

480

165

329

270

225

195 100 93 80

78 85

110

480

330

318

300

225

195 150 140 129 120 120 112 112 110

525

487

390

390

331

345

300 167 257 188 180 180 139 172 142

487

390

390

392

345

186

274

262 188 180

169 172 80

180

525

486

390

390

373

345

286

268

238 188 180 180 175 173 144

8

Expanding ad units

z

Major music media channel

Media Channel

70

58

34

25

21

7

8

6

2

Monthly Uniques (MM)

Source: ComScore, August 2013

z

+85-90%

LN Online advertising revenue

Online advertising growth

2010 2011 2012 2013

9

Expanding ad units leveraging 22,000 shows

Original Content

Behind the Scenes

Live Events

► TM+ is first product launched using new ticketing system technology

► Development planned to be 70% complete at year-end 2013

► Expect to have spent $70M as of year-end 2013

► Full new concert ticketing system planned launch by end of 2014

10

New ticketing platform

11

Growing in new market – secondary

z

Major growth

+30%

2012 2013

TM Secondary Gross Transaction Value

12

Driving mobile tickets

z

High mobile penetration SAME TICKET ECONOMICS

ALL FAN DATA

NEW AD UNITS

BETTER FAN EXPERIENCE

TRANSFERABLE DIGITAL TICKET

Mobile only share of digital audience

39% 37%

29%

24%

21%

Source: ComScore, June 2013

* 2013 is YTD through August

z

Mobile share of TM NA ticket sales

2%

6%

10%

Growing mobile ticket sales

2011 2012 2013*

Adjusted Operating Income

+27%

13

Continued AOI growth

+30-35%

2011 2012 2010 2013 2015 2014

Free Cash Flow

+52%

14

Continued FCF growth

+40-45%

2011 2012 2010 2013 2015 2014

Note: Adjusted to remove $26M tax refunds received in 2012; LNE will record one-time refinancing costs of $43M in Q3 2013

Live Nation Entertainment Investment Thesis

15

+ GROWING GLOBAL CONCERTS INDUSTRY

+ SUPERIOR ECOSYSTEM SCALE CREATING COMPETITIVE ADVANTAGE

+ TECHNOLOGY INVESTMENT ENABLING 450M DIRECT FAN RELATIONSHIPS

+ INCREASING LEVERAGE AGAINST EXPENSES

= LONG TERM AOI AND FREE CASH FLOW GROWTH