Overview Key strengths Key risks Superior broadband speeds to the competition in most markets today. Fiber-based competition could increase to over 50% of Charter?s footprint within five years. Increasing demand for faster internet. 5G fixed wireless competition could result in slowing subscriber growth. High barriers to entry, given capital spending requirements and rights of way.Scale that allows for procurement benefits, broad geographic reach, and financial resources.Mobile wireless service to protect against the emerging broadband competition. Longer-term regulatory uncertainty and the potential for price regulation in less competitive markets. Elevated financial leverage at 4.0x-4.5x. We project that Charter has the ability to reduce leverage by about 0.5x in 2022 and 0.4x per year in 2023-2024, given our forecast for mid-single-digit EBITDA
