Overview Key strengths Key risks Superior broadband speeds to the competition in about 55% of markets today. Fiber-based competition is increasing. Increasing demand for faster internet supports long-term average revenue per user (ARPU) growth potential. 5G fixed wireless access (FWA) competition is eroding customer growth. High barriers to entry given capital spending requirements and rights of way. Elevated financial leverage at 4.0x-4.5x. Scale that allows for procurement benefits, broad geographic reach, and financial resources. Mobile wireless service to protect against the emerging broadband competition. We believe growth will be driven by the following over time: High-speed data (HSD) ARPU growth of 3%-4% per year. Charter has adopted a strategy of maximizing household returns, with more of a focus on volume
