Warner Music Group Corp. — Director's Dealing 2022

Jan 31, 2022

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Warner Music Group Corp. (WMG)
CIK: 0001319161
Period of Report: 2022-01-27

Reporting Person: AI Entertainment Holdings LLC (10% Owner)
Reporting Person: Altep 2012 L.P. (Affiliate of 10% Owner)
Reporting Person: AI Altep Holdings, Inc (Affiliate of 10% Owner)
Reporting Person: ACCESS INDUSTRIES, LLC (Affiliate of 10% Owner)
Reporting Person: AIPH Holdings LLC (Affiliate of 10% Owner)
Reporting Person: Access Industries Holdings LLC (Affiliate of 10% Owner)
Reporting Person: ACCESS INDUSTRIES MANAGEMENT, LLC (Affiliate of 10% Owner)
Reporting Person: Blavatnik Len (Director, Affiliate of 10% Owner)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2022-01-27	Class B Common Stock	$	J	1087137	Disposed		Class A Common Stock (1087137)	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Class B Common Stock	$		Class A Common Stock (365701589)	365701589	Direct

Footnotes

F1: Each share of Class B Common Stock is convertible at any time at the option of the holder into one share of Class A Common Stock and has no expiration date.

F2: Altep 2012 L.P. declared on January 27, 2022 a pro rata distribution for no consideration of an aggregate of 1,087,137 shares of Class B Common Stock, which were converted into an equal number of shares of Class A Common Stock automatically upon distribution.

F3: The securities reported are held directly by Altep 2012 L.P. ("Altep 2012") and may be deemed to be beneficially owned by AI Altep Holdings, Inc. and Mr. Blavatnik because AI Altep Holdings, Inc. is the general partner of Altep 2012 and Mr. Blavatnik controls AI Altep Holdings, Inc. Each of the reporting persons (other than Altep 2012) disclaims beneficial ownership of these securities, except to the extent of its or his pecuniary interest therein, and this Form shall not be construed as an admission that any such reporting person is the beneficial owner of any such securities.

F4: The securities reported are held directly by AI Entertainment Holdings LLC ("AIEH") and may be deemed to be beneficially owned by AIPH Holdings LLC ("AIPH"), Access Industries Holdings LLC ("AIH"), Access Industries, LLC ("AI"), Access Industries Management, LLC ("AIM") and Mr. Blavatnik because AIPH is the parent of AIEH, AIH controls a majority of the outstanding voting interests in AIPH, AI controls a majority of the outstanding voting interests in AIH, AIM controls AI and AIH and Mr. Blavatnik is the controlling person of AIM and controls a majority of the outstanding voting interests in AI. Each of the reporting persons (other than AIEH) disclaims beneficial ownership of these securities, except to the extent of its or his pecuniary interest therein, and this Form shall not be construed as an admission that any such reporting person is the beneficial owner of any such securities.