World-renowned rock band U2 will perform their Oscar-nominated song, "Ordinary Love" for a global audience at the 86th Annual Acadmey Awards, show producers Craig Zadan and Neil Meron announced today. U2's exclusive Oscar show performance will be the first time the band will perform the song live. The Oscars, hosted by Ellen DeGeneres, will air on Sunday, March 2, live on ABC.

"Ordinary Love" was written by the group for Mandela: Long Walk to Freedom and is nominated for Original Song. The three other nominated songs are "Happy" from Despicable Me 2, "Let It Go" from Frozen and "The Moon Song" from Her.

U2 has sold more than 150 million records worldwide since its formation in 1976. The group has won 22 Grammy Awards-more than any other band-and was inducted into the Rock and Roll Hall of Fame in 2005, its first year of eligibility. The band's 110-show, 26-month U2360° tour, which ended in July 2011, played to over 7 million fans in 30 countries on 5 continents and was the highest-grossing concert tour of all time. The band is currently in the studio working on a new album.

RELATED: Robert Downey Jr. Said No to Oscars Campaign for Iron Man in Avengers: Endgame

Academy Awards for outstanding film achievements of 2013 will be presented on Oscar Sunday, March 2, 2014, at the Dolby Theatre at Hollywood & Highland Center and televised live on the ABC Television Network. The Oscars, produced by Craig Zadan and Neil Meron, also will be televised live in more than 225 countries and territories worldwide.