Company: LBTYK
Filing Date: 2025-03-25
Form Type: 10-K/A
Source: 0001570585-25-000097
Chunk: 62

Company: Liberty Global Ltd.
Filing Date: 2025-03-25
Form: 10-K/A
Chunk 62
---
 the Trustees and no decision has been made to buy out the plans. The buy-ins remove the material pension risk in respect of the pension plans while providing greater benefit security to the members of the plans. The buy-in premiums were funded from assets of the plans and an investment loss, based on the premium paid and the accounting valuation, has been recognised through other comprehensive loss and the majority of the total other comprehensive investment loss is due to the buy-in transactions. Under GAAP, there are two potential treatments for the buy-in: (i) assets set equal to the buy-in premium, liabilities remain unchanged (e.g., liabilities valued using AA corporate bond discount rate), or (ii) assets and liabilities both set equal to the buy-in premium. We have chosen to account under option (i) as it is more consistent with the investment decision to enter into the bulk annuity contract, as the valuation of the liability remains unchanged.

<div align='center'>IV-51</div>

#### VMED O2 UK LIMITED

### Notes to Consolidated Financial Statements — (Continued)

#### 31 December 2024, 2023 and 2022
The table below provides summary information of our defined benefit plans:

|                              |     | 31 December |         |     |      |         |     |      |         |
|                              |     |        2024 |         |     | 2023 |         |     | 2022 |         |
|                              |     | in millions |         |     |      |         |     |      |         |
| Fair value of plan assets    |     |           £ | 1,559.0 |     |    £ | 1,820.9 |     |    £ | 1,824.4 |
| Projected benefit obligation |     |             | 1,358.5 |     |      | 1,519.8 |     |      | 1,468.5 |
| Net asset (a) (b)            |     |           £ |   200.5 |     |    £ |   301.1 |     |    £ |   355.9 |

_______________

(a) Amounts include net obligations of £2.8 million, £3.1 million and £4.3 million, respectively, related to projected benefit obligations of unfunded schemes.

(b) VMED O2 is not required to limit any pension surplus, or recognise additional pension liabilities in individual plans, as economic benefits