Charter Communications Inc at Bank of America Media, Communications & Entertainment Conference Summary

The following is excerpted from the question-and-answer section of the transcript.

Question: Jessica Reif Cohen - Bank of America Merrill Lynch - Analyst : <_ALACRA_META_ABSTRACT>Can you talk about the top three priorities that you're focused on over the next several years given the challenging broadband competitive environment, the Cox merger, increasing move towards convergence across the industry, and the final stages of implementing your network evolution plans? It's not like there's nothing going on.

Question: Jessica Reif Cohen - Bank of America Merrill Lynch - Analyst : So moving on to broadband, fixed wireless operators have been the largest broadband share gainers. Where does Charter win or lose against FWA today?

Question: Jessica Reif Cohen - Bank of America Merrill Lynch - Analyst : But do you expect -- I mean, I think you've said this in the past, but that you expect FWA to ultimately slowdown in the not-too-distant future. Do you still expect that? And if yes, like will that help you? Like do you think that you'll win back Internet customers.

Question: Jessica Reif Cohen - Bank of America Merrill Lynch - Analyst : But at the same time, fiber competition is increasing. So what are you seeing in terms of the pace of fiber build-outs and where are you seeing it?

Question: Jessica Reif Cohen - Bank of America Merrill Lynch - Analyst : Can you update us on third quarter broadband trends? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. SEPTEMBER 04, 2025 / 2:30PM, CHTR.OQ - Charter Communications Inc at Bank of America Media, Communications & Entertainment Conference

Question: Jessica Reif Cohen - Bank of America Merrill Lynch - Analyst : Okay. Do you still expect to grow EBITDA for the full year this year?

Question: Jessica Reif Cohen - Bank of America Merrill Lynch - Analyst : Okay. What are you learning about price sensitivity, promotional strategies and churn cohorts post ACP? And how is that shaping your ARPU and retention strategies for back half of '25 and into '26?

Question: Jessica Reif Cohen - Bank of America Merrill Lynch - Analyst : All right. What are you seeing and like -- can you talk about like just the rural opportunity from here? Like how much more runway do you have in net adds in your rural areas? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. SEPTEMBER 04, 2025 / 2:30PM, CHTR.OQ - Charter Communications Inc at Bank of America Media, Communications & Entertainment Conference

Question: Jessica Reif Cohen - Bank of America Merrill Lynch - Analyst : What's your vision for Charter's fixed mobile convergence over the next three to five years? How do you think it reshapes the customer relationship, your competitive position in the market, unit economics?

Question: Jessica Reif Cohen - Bank of America Merrill Lynch - Analyst : Right. Moving on a little bit to the MVNO. How does the new business-focused MVNO deal with T-Mobile expand your addressable market?

Question: Jessica Reif Cohen - Bank of America Merrill Lynch - Analyst : How fast can you scale CBRS small cells? Where are you deploying first? What's the medium-term offload target to structurally improve MVNO unit cost? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. SEPTEMBER 04, 2025 / 2:30PM, CHTR.OQ - Charter Communications Inc at Bank of America Media, Communications & Entertainment Conference

Question: Jessica Reif Cohen - Bank of America Merrill Lynch - Analyst : Yeah. So let's move on to Cox. It's a big acquisition. What are the two or three unique capabilities that Cox brings that can accelerate your strategy, simplify -- is it commercial? Is it mobile? They are shockingly under penetrated in video. It was a big surprise when those numbers came out.

Question: Jessica Reif Cohen - Bank of America Merrill Lynch - Analyst : Right. One more Cox question, more on the cost side. But what's embedded for network procurement, SG&A synergies? And what is the plan to just realize the synergies? What kind of time frame are you thinking about?

Question: Jessica Reif Cohen - Bank of America Merrill Lynch - Analyst : No, it's really exciting. So let's move on to video, near and dear to me. So in this pretty tough environment of cord cutting. You've done an amazing job of integrating streaming services into your bundles and basically recreating the video product into a much higher quality, better value offering for sure. And we've seen some improvement without a lot of marketing so far. Can you give us like an update on your efforts within like video? What you're doing, like what your plans are for marketing? Because your marketing is all over New York but not so much from video, like there's -- you market mobile very well, but and broadband as well?

Question: Jessica Reif Cohen - Bank of America Merrill Lynch - Analyst : I mean it's so innovative. And I think it's such a great strategy, but do you also think that -- you mentioned bringing broadband back, but what about like video subs do you think you'll be able to grow video?

Question: Jessica Reif Cohen - Bank of America Merrill Lynch - Analyst : Right. Does Xumo enhance the video product?

Question: Jessica Reif Cohen - Bank of America Merrill Lynch - Analyst : And then just one more thing on video and I have a lot of questions, but when you head into your next programming cycle, how do you ensure you can still attach the many DTC services you provide to your video customers like this incredible value? Does that conversation change?

Question: Jessica Reif Cohen - Bank of America Merrill Lynch - Analyst : I mean you really took a tough stance starting with Disney and it seems to have worked. So it's just the next rounds will be interesting. So maybe moving on to advertising, still with those sort of video bent through, but has the shift towards AVOD services? I mean, that's what you're offering essentially in the streaming, the ad-light packages as opposed to the SVOD. But has that affected your advertising business? I don't think you get any of those ads on the streaming services.

Question: Jessica Reif Cohen - Bank of America Merrill Lynch - Analyst : Right. Can you just clarify who are you selling advertising for besides yourselves?

Question: Jessica Reif Cohen - Bank of America Merrill Lynch - Analyst : Right. And then just the last thing on advertising but can you talk about like what trends you're seeing currently in the market?

Question: Jessica Reif Cohen - Bank of America Merrill Lynch - Analyst : How do you define the strategic purpose of network evolution for Charter? And what will success look like with customers, competitors, and your financials feel the full impact? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. SEPTEMBER 04, 2025 / 2:30PM, CHTR.OQ - Charter Communications Inc at Bank of America Media, Communications & Entertainment Conference

Question: Jessica Reif Cohen - Bank of America Merrill Lynch - Analyst : Can you talk about current trends you're seeing in the small and medium business operations?

Question: Jessica Reif Cohen - Bank of America Merrill Lynch - Analyst : And can you talk about the same thing for your enterprise business?

Question: Jessica Reif Cohen - Bank of America Merrill Lynch - Analyst : Okay. And then let's talk about the balance sheet a little bit. But has the post Cox close ownership and leverage change your capital allocation strategy between buybacks, deleveraging, and incremental bills?

Question: Jessica Reif Cohen - Bank of America Merrill Lynch - Analyst : I mean maybe just one more question, but to kind of go back to marketing, you're going to have a name change, aren't you?

Question: Jessica Reif Cohen - Bank of America Merrill Lynch - Analyst : It will be Spectrum across the entire footprint?

Question: Jessica Reif Cohen - Bank of America Merrill Lynch - Analyst : Is there anything -- just because you're marketing a number of fronts. So I guess, you said that you'll be more efficient as you -- I mean, as your footprint grows, right, you're competing? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. SEPTEMBER 04, 2025 / 2:30PM, CHTR.OQ - Charter Communications Inc at Bank of America Media, Communications & Entertainment Conference

Question: Jessica Reif Cohen - Bank of America Merrill Lynch - Analyst : I mean it's been pretty regional or [marketing]. And then I guess one last thing on video. Are there any video streaming services that you are not yet in your bundle that you think would be meaningful?

Question: Jessica Reif Cohen - Bank of America Merrill Lynch - Analyst : Does the ESPN direct-to-consumer launch maybe a difference in that? I mean the value proposition seems to be really high.

Question: Jessica Reif Cohen - Bank of America Merrill Lynch - Analyst : Is that available today to Spectrum subscribers? They just launched. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. SEPTEMBER 04, 2025 / 2:30PM, CHTR.OQ - Charter Communications Inc at Bank of America Media, Communications & Entertainment Conference

Question: Jessica Reif Cohen - Bank of America Merrill Lynch - Analyst : So that would be a plus value to customers because that's -- as a stand-alone, it's a $30 product.

Question: Jessica Reif Cohen - Bank of America Merrill Lynch - Analyst : Great. Well, with that, thank you so much.