Liberty Broadband (LBRDA) investor relations material

Executive summary

• First earnings call under new name, highlighting strong business momentum and a growing cash profile.

• Announced initiation of a quarterly dividend starting December, totaling $60 million annually.

• GCI remains a stable, cash-generative business with a unique position in Alaska.

• Report covers the quarter ended June 30, 2026, following the divestiture of GCI and pending merger with Charter Communications.

• Liberty Broadband now operates as a single segment, primarily holding an equity method investment in Charter.

Financial highlights

• Q2 revenue was $261 million, flat year-over-year; Adjusted OIBDA was $96 million, down 11% year-over-year.

• Net loss from continuing operations was $2,125 million for Q2 2026, compared to net income of $356 million in Q2 2025.

• The loss was driven by a $3.0 billion impairment on the Charter investment due to a sustained decline in Charter's share price.

• Free Cash Flow for the trailing 12 months was $59 million, a year-over-year decline.

• Revenue from Charter (equity method) decreased to $13.5 billion in Q2 2026 from $13.8 billion in Q2 2025.

Outlook and guidance

• Capital intensity expected to peak in 2026, then decline in 2027 and 2028, boosting cash flow.

• Management expects available liquidity and proceeds from Charter share repurchases to cover corporate expenses and debt service for the foreseeable future.

• Dividend of $15 million per quarter to begin in Q4, representing about half of next year's Free Cash Flow.

• The company remains subject to contractual restrictions while the Charter merger is pending.

• Quintillion deal expected to close this year, with $20 million in run rate synergies over 24 months.