Liberty Capital (GLIBA) investor relations material

Executive summary

• Q2 2026 revenue was $261 million, flat year-over-year, with adjusted OIBDA of $96 million and operating income of $29 million; net earnings declined to $16 million.

• Free cash flow for the trailing 12 months was $59 million; net cash from operating activities was $308 million.

• Announced a new capital allocation policy, including a quarterly dividend totaling $60 million annually starting December 2026.

• The Quintillion acquisition is expected to close in Q4 2026, with $20 million in run rate synergies anticipated over 24 months post-closing.

• Completed the SwS acquisition, adding 5,400 broadband subscribers.

Financial highlights

• Q2 2026 revenue was $261 million, unchanged year-over-year; adjusted OIBDA margin declined to 36.8% from 41.4%.

• Net earnings for Q2 2026 were $16 million, with diluted EPS of $0.40, down from $0.87 in Q2 2025.

• Capital expenditures for the first half of 2026 were $125 million, with full-year CapEx projected at $290 million.

• Cash and cash equivalents at June 30, 2026 were $497 million; total debt was $1.2 billion.

• Net cash provided by operating activities for the trailing twelve months was $308 million; free cash flow was $59 million.

Outlook and guidance

• Capital intensity is expected to decline after 2026, boosting cash flow and supporting dividend growth.

• The planned quarterly dividend of $15 million is expected to begin in December 2026, subject to board approval.

• Quintillion deal expected to close in Q4 2026, with integration planned to be smooth and quick.

• GCI expects stable performance for 2026 and a step-up in cash generation in 2027.