Please identify the relevant entity and period in each answer, supply contemporaneous records where possible, and state explicitly when a document does not exist or cannot be provided. These questions do not presume misconduct.

Questions to Yasir Al-Rumayyan

1. When and through whom did you first receive a proposal for a Saudi-backed global golf league? Supply the earliest dated presentation and covering correspondence.

2. What did Andy Gardiner, PGL, World Golf Group or Raine first show you, and on what dates?

3. Who introduced each PGL representative to you, Golf Saudi and PIF decision-makers?

4. Did you review or authorize the November 2019 term sheet reportedly contemplating a $1 billion PGL investment and a $490 million PIF-linked contribution? Provide the signed or draft versions.

5. Was a nonbinding letter of intent issued in your name or on your instruction in late 2019? Identify signatories, conditions and expiration.

6. What confidentiality obligations covered the PGL presentations, financing information and proposed player contracts?

7. When did you decide to pursue a separately owned LIV league, and who proposed that alternative?

8. Which individuals had access to PGL materials and subsequently worked on LIV’s strategy, model or player recruitment?

9. What internal review assessed possible intellectual-property or confidentiality claims before LIV launched?

10. Who commissioned McKinsey’s Project Wedge, on which date, and under which PIF or related-entity contract?

11. What written question was McKinsey retained to answer, and what subjects were expressly outside its mandate?

12. Who supplied McKinsey’s player-acquisition costs, broadcast assumptions, sponsor forecasts and market-share inputs?

13. Which version of the full model and deck did you personally receive, and when?

14. Were you shown the 2028 startup-case operating loss of approximately $355 million? Point to the page and meeting record.

15. Were the optimistic 2028 revenue of at least $1.4 billion and operating profit of at least $320 million presented together with all conditions needed to reach them?

16. Did anyone remove, shorten or reposition risk scenarios between the analyst draft and the board/investment-committee pack? Name each reviewer.

17. What probability, if any, did the PIF assign to McKinsey’s scenarios and what independent challenge was performed?

18. Did you understand the study as a commercial feasibility recommendation, a scenario analysis or another type of work?

19. What additional assessments covered sanctions, competition law, reputational exposure and counterparty litigation?

20. Which body first approved LIV investment, on what date, by what vote and under what delegated authority?

21. What was the initial approved funding ceiling, and how many times was it raised?

22. Who monitored actual spend against the approved business case and reported exceptions to you?

23. What is the precise reconciliation of PIF equity contributions to the court’s approximately $5 billion figure, by entity, date, currency and bank?

24. Which amounts were loans, equity, guarantees, future commitments or sponsor purchases by PIF affiliates? Supply a bridge schedule.

25. How much was paid to 54/Performance54 and related entities each year, identifying recipient legal entity, account and service?

26. Who chose 54 for deal sourcing, diligence, modeling, recruitment, contract negotiation and event delivery, and what competing bids were assessed?

27. When were you informed that Sanabil invested in Performance54, and what related-party disclosure or recusal was required?

28. Who authorized Performance54’s approximately 1.05% equity interest, at what valuation and for what consideration?

29. Were any LIV procurement or investment decisions made by individuals with interests in 54, its owners or subcontractors?

30. What were the total fees and terms for McKinsey and Boston Consulting Group, and which specific assignments did each perform?

31. What financing request was submitted around 1 February 2026 for a reported $266.6 million? Supply the request, annexes and approval.

32. Did the reported February amount represent a ceiling, an immediate transfer or staged draws? List dated remittances and recipients.

33. What performance or cash-runway information accompanied the February 2026 request, and what alternatives were presented?

34. What is the exact use of proceeds from the February approval and subsequent 2026 support, including adviser and player payments?

35. Who authorized the reported $495 million secured financing, which assets secured it and what financial covenants apply?

36. How were sponsorship transactions with ROSHN, Riyadh Air and other PIF affiliates priced and independently approved?

37. How much of reported sponsorship revenue came from PIF-controlled entities by year, and what cash has actually been collected?

38. Did any LIV cash flow onward to entities whose ultimate beneficial owners have not been disclosed to the PIF? Identify the controls and exceptions.

39. Who approved the Jersey and UK holding-company structures and the initial Performance54i company names, and why were they used?

40. Will you release the investment approvals, complete Project Wedge pack, related-party register, audited entity accounts and payment ledger; if not, specify which records can be independently inspected?

PIF investment committee and finance officers

1. Identify every approval threshold and signatory for initial capital, later capital calls and guarantees.

2. Provide the original investment memorandum, base/downside model, board pack, minutes and dissent or risk memoranda.

3. Reconcile $5 billion approximate equity, subsequent reported approvals, $495 million debt and bank movements without double counting.

4. Supply the general-ledger vendor register, payee identities, related-party register and all material contract amendments.

5. Which internal audit findings addressed procurement or connected-party exposure, and how were they closed?

6. Who received and reviewed the complete McKinsey deck and when?

McKinsey and Project Wedge authors

1. Provide the engagement letter, scope changes, total fees and client counterparties.

2. List all model versions, their creation dates and the custodians of assumptions.

3. Did McKinsey independently validate player costs, television revenue and sponsorship estimates?

4. Where and how prominently did the minus $355 million scenario appear in the delivered decision materials?

5. Which assumptions were furnished by the client and what caveats accompanied them?

6. Did McKinsey write or edit the investment committee decision paper or merely deliver analytical materials?

7. Did anyone ask to omit or de-emphasize downside cases, and what written response followed?

8. What warning or sensitivity analysis accompanied the $1.4 billion revenue outcome?

9. Which personnel attended PIF decision meetings and what did they say?

10. How did McKinsey respond to the Senate document request?

54 / Performance54 and its principals

1. Identify each contracting group company, contract value and time period since the earliest Saudi golf work.

2. What services did “investment stewardship” encompass and what compensation was actually received?

3. Provide fee schedules, invoices, work product, cost pass-throughs and subcontractor registers.

4. Who won the original 2018 bid, what alternative bids were considered and who scored them?

5. Which 54 personnel participated in deal sourcing, due diligence, modeling and vendor selection?

6. Identify overlapping roles where 54 recommended or selected suppliers from whom it benefited.

7. What was the consideration and vesting for its approximately 1.05% LIV interest?

8. What were Sanabil’s ownership percentage, entry price and governance rights at each relevant date?

9. Which executives or beneficial owners received dividends, fees or exit proceeds linked to LIV?

10. Did any material invoices concern services already remunerated through other Saudi entities?

11. Did 54 receive funding or guarantees associated with its January 2026 Lloyds security filings?

12. Will it provide a consolidated reconciliation distinguishing LIV receipts from group revenue and other clients?

Sanabil and Golf Saudi

1. Provide the Performance54 acquisition agreement, price, source of funds and contemporaneous valuation.

2. Identify the PIF and Sanabil officers who reviewed potential conflicts with LIV procurement.

3. Did Sanabil recuse itself or its nominees from LIV decisions affecting its investee?

4. List all intercompany dividends or transfers tied to Performance54 since acquisition.

5. Provide the Saudi Golf Federation 2018 bid and scope, and the separation between that work and LIV.

6. Which materials from PGL were circulated to Golf Saudi advisers, and under which confidentiality terms?

LIV management, sponsors and administrators

1. List the 40 bank accounts, their legal owners and intercompany transfer matrix.

2. Provide the 2025 revenue reconciliation by sponsor and the collectible status of future commitments.

3. What consideration did ROSHN and Riyadh Air give, and what comparable-market pricing supports each transaction?

4. Identify each secured lender, pledge and borrowing draw under the reported $495 million arrangement.

5. Provide the largest suppliers by paid cash and unpaid debt, separately.

6. Explain the Jersey administration, which group entities it affects and how creditors rank.

7. Disclose material player obligations, performance contingencies and future cash requirements.

8. Provide bank-to-ledger reconciliation for every 2026 funding installment.

9. Explain the former Performance54i names and the incorporators’ instructions.

10. Provide related-party approvals for adviser equity, consulting contracts and sponsor agreements.

PGL claimants and Raine

1. Produce the first proposal and proof it was delivered to Al-Rumayyan.

2. Identify what was confidential, who received it, and the clauses governing use.

3. Provide versions of the 2019 financing term sheet and any subsequent letter of intent.

4. Which features alleged to have been copied were absent from other then-public golf proposals?

5. Explain the ownership changes and competing buyout proposals with executed documents.

6. What relief is sought, and which allegations have already been withdrawn or judicially resolved?

Minimum production request

For every responsive document, provide custodians, creation and modification dates, legal entity, currency, accounting period, underlying bank transaction identifier and any reason for redaction. If withheld, specify whether the reason is privilege, litigation, confidentiality or nonexistence. Preserve drafts and metadata.

Selected public-source register

[1] ESPN, report on WGG/PGL complaint, April 2026. https://www.espn.co.uk/golf/story/_/id/49299774/companies-claiming-world-golf-league-concept-sue-liv-others

[3] Contemporaneous reporting on confidential McKinsey records. https://www.businesstimes.com.sg/lifestyle/confidential-records-show-saudi-golf-tour-built-far-fetched-assumptions

[5] U.S. Senate Permanent Subcommittee on Investigations, letter to McKinsey, August 2023. https://www.hsgac.senate.gov/wp-content/uploads/2023-08-16-Blumenthal-Request-to-McKinsey-re-Documents-and-Information_Redacted.pdf

[6] 54, LIV Golf case study (company account). https://www.weare54.com/case-studies/liv-golf

[9] Government of Jersey Gazette, LIV Golf Investments Ltd administration. https://www.gov.je/gazette/Pages/LGIL.aspx

[10] HMT LLP, Sanabil–Performance54 transaction. https://www.hmtllp.com/deals/performance54-targets-global-expansion-with-investment-from-sanabil/

[11] U.S. court, first-day declaration in LIV restructuring, September 2026. https://casedocs.omniagentsolutions.com/cmsvol2/pub_47610/88c682ec-4bbc-42c8-bf95-12d01399554c_27.pdf

[12] Reuters, LIV investment and Performance54 fee reporting, February 2025. https://www.reuters.com/sports/tennis/report-pifs-liv-golf-investment-nearing-5b-losses-mount-2025-02-14/

[15] Money in Sport, February 2026 funding report. https://moneyinsport.substack.com/p/pif-approves-267-million-of-fresh

[17] UK Companies House, Performance54 security filings. https://find-and-update.company-information.service.gov.uk/company/13167959/charges