Hilversum, The Netherlands, August 2, 2024 – Universal Music Group N.V. (“UMG” or “the Company”) announced today that the terms of the previously disclosed amended Greater China Option Agreement (the “Restated Agreement”) entered into between UMG’s subsidiary, Universal International Music B.V. (“UIM”) and Tencent Holdings Ltd. (“Tencent Holdings”) have been amended.

As disclosed by UMG on June 16, 2022, the Restated Agreement granted Tencent Holdings an option to acquire up to 12.5% (but no less than 10%) of the share capital of the holding company which controls UIM’s Greater China operations (“Greater China HoldCo”).

Under the amended Restated Agreement (the “Amended Agreement”),Tencent Holdings will have the right to exercise the option until June 16, 2025.

As of the date of this announcement, Tencent Holdings has not exercised the option. Any purchase of the shares of Greater China HoldCo will be conditioned upon, among other things, receipt of all necessary approvals from relevant governmental authorities.

About Universal Music Group
At Universal Music Group (EURONEXT: UMG), we exist to shape culture through the power of artistry. UMG is the world leader in music-based entertainment, with a broad array of businesses engaged in recorded music, music publishing, merchandising and audiovisual content. Featuring the most comprehensive catalogue of recordings and songs across every musical genre, UMG identifies and develops artists and produces and distributes the most critically acclaimed and commercially successful music in the world. Committed to artistry, innovation and entrepreneurship, UMG fosters the development of services, platforms and business models in order to broaden artistic and commercial opportunities for our artists and create new experiences for fans. For more information on Universal Music Group N.V. visit www.universalmusic.com.

Contacts

Media
James Murtagh-Hopkins – communicationsnl@umusic.com

Investors
Erika Begun – investorrelations@umusic.com 

Forward-looking statements
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