Optimum Communications Inc at UBS Global Media and Communications Conference Transcript

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

Question: John Hodulik - UBS AG - Analyst : So again, Dennis, thanks for being here. What we always do with conference at the end of the year is just start by give us a little outlook about the priorities for the company as you look out to 2026.

Question: John Hodulik - UBS AG - Analyst : Got it. Why don't we start -- I want to hit all of these issues, especially the competition and your efforts on the broadband market, but maybe a with the balance sheet. Can you provide us an update on your capital structure? I think there was a recent lawsuit filed against some of your creditors. Just sort of give us the details.

Question: John Hodulik - UBS AG - Analyst : Okay. Got it. Anything you can tell us about how you plan to address the upcoming maturities in early '27?

Question: John Hodulik - UBS AG - Analyst : Got it. Is there an opportunity to use ABS for your -- LSEG STREETEVENTS | www.lseg.com | Contact Us consent of LSEG. 'LSEG' and the LSEG logo are registered trademarks of LSEG and its affiliated companies. DECEMBER 09, 2025 / 5:45PM, OPTU.N - Optimum Communications Inc at UBS Global Media and Communications Conference

Question: John Hodulik - UBS AG - Analyst : Got it. Okay. Maybe switching to broadband. You said things have gotten more competitive since you joined the company. Can you tell us about sort of maybe what you're seeing in the fourth quarter from a competitive standpoint, both on the fiber side and (inaudible)?

Question: John Hodulik - UBS AG - Analyst : You're not the first to mention that because Comcast this year, and they said that they saw some higher -- the -- we're seeing more competition in the fourth quarter on the fiber side because of these promotions. And then we ran that by AT&T, and they said, yes, it makes a lot of sense given what we're doing on the fixed wire side. So I think it all sort of fits together. Before we talk a little bit about fixed wireless and fiber, you started with some of your comments that there's fewer jump balls in the market. Is that a result, and maybe you could give us some more color on it, is that a result of just sort of what we're seeing in the housing environment, plus the fact that there's just less DSL subs legacy DSL subs sort of coming off of these legacy telco networks? What --

Question: John Hodulik - UBS AG - Analyst : And I want to imagine that sort of converting those DSL subs to fixed was would have to be a big strategy of AT&T. They have a lot of those legacy ever subs still, and they now have a fixed wireless product that they really weren't pushing a year ago, right? It's like a new thing. Are you seeing either in really either territory, the Suddenlink or the Optimum territory, I guess they're all Optimum territory now, still or even in the consumer business market, the sort of the impact of AT&T's entry into the fixed wireless?

Question: John Hodulik - UBS AG - Analyst : Right. Maybe we'll talk about fiber deployment optimum. How is that progressing? And how should we think of incremental passings over the next.

Question: John Hodulik - UBS AG - Analyst : So the focus or the priority for '26 is the balance sheet more so than the fiber and --

Question: John Hodulik - UBS AG - Analyst : Right. So obviously, the 700,000 customers, 3 million passings in your most mature areas, where you've had the product there the most and where you've sort of executed the best. Where -- if you can sort of look at it sort of on a cohort by collar basis. What do you think the sort of we should be thinking of sort of like a good steady state sort of penetration number of those passings? What's a good number from a customer standpoint?

Question: John Hodulik - UBS AG - Analyst : Previously, you mentioned that you would implement price locks in certain areas, if needed. How should we think about your pricing strategy in 2026?

Question: John Hodulik - UBS AG - Analyst : Right. That makes sense. And there's been -- that has been a topic of conversation Comcast is obviously not raising price in the first half of the year, I think Charter sort of suggested something similar. So what does that do to the economic? If you do institute some price locks, does that change what we should expect from an ARPU standpoint or the change? LSEG STREETEVENTS | www.lseg.com | Contact Us consent of LSEG. 'LSEG' and the LSEG logo are registered trademarks of LSEG and its affiliated companies. DECEMBER 09, 2025 / 5:45PM, OPTU.N - Optimum Communications Inc at UBS Global Media and Communications Conference

Question: John Hodulik - UBS AG - Analyst : Right. So you mentioned mobile in the 7% mobile penetration. I'd say within that base, is it helping the overall sort of customer lifetime value of those customers? Is it doing what you would expect obviously a relatively small base. And how far -- as that product matures, and you're able to distribute more, what's -- is there a target level of penetration you could -- we should think of?

Question: John Hodulik - UBS AG - Analyst : In the mobile side.

Question: John Hodulik - UBS AG - Analyst : And anything -- any comments that you could make on the sort of profitability of that business? I don't know. I don't know if you guys have said. LSEG STREETEVENTS | www.lseg.com | Contact Us consent of LSEG. 'LSEG' and the LSEG logo are registered trademarks of LSEG and its affiliated companies. DECEMBER 09, 2025 / 5:45PM, OPTU.N - Optimum Communications Inc at UBS Global Media and Communications Conference

Question: John Hodulik - UBS AG - Analyst : And is there any opportunity in the business market for the mobile product? I mean, I would imagine you're selling mostly in the consumer market, but does it.

Question: John Hodulik - UBS AG - Analyst : Got it. Maybe to switch to video. How has the progress been with the new video packages. I think the take rate was 13% last quarter. I think you said what's that doing for your overall business? And where can that go?

Question: John Hodulik - UBS AG - Analyst : You started off by saying that's the main focus. But what are the other sort of drivers of that efforts to stabilize the base aside from these other products.

Question: John Hodulik - UBS AG - Analyst : Okay. Maybe shifting to Lightpath. Can you frame the size of the Lightpath opportunity?

Question: John Hodulik - UBS AG - Analyst : I mean, how should we look at that as sort of the overall -- I don't know there's a way to put sort of a TAM around it, but obviously, we had a data center panel. We have a couple of other data center companies there's massive demand for AI compute. I mean how big of an opportunity is it for Lightpath over the next couple of years? And are you guys willing to build data centers outside the current Optimum footprint or --

Question: John Hodulik - UBS AG - Analyst : Great. And how should we think of the sort of economics of that business? Or how do you sort of gauge the profitability of.

Question: John Hodulik - UBS AG - Analyst : Okay. Great. Maybe with a few minutes we have left, we could touch on a couple of things. First, if we could address some of the -- your guidance for the year your $3.4 billion EBITDA guide, implies a big step-up in 4Q despite the tougher advertising comps. Are the cost savings

Question: John Hodulik - UBS AG - Analyst : Fantastic.

Question: John Hodulik - UBS AG - Analyst : That's a great achievement given where you've come from -- look out to '26 can EBITDA grow -- continue to grow in 2026? LSEG STREETEVENTS | www.lseg.com | Contact Us consent of LSEG. 'LSEG' and the LSEG logo are registered trademarks of LSEG and its affiliated companies. DECEMBER 09, 2025 / 5:45PM, OPTU.N - Optimum Communications Inc at UBS Global Media and Communications Conference

Question: John Hodulik - UBS AG - Analyst : Great. Last question, how do you view Optimum's positioning against potential industry consolidation. Obviously, we're seeing a pretty big deal right now between Charter and coax. There's been a lot of regulation that there would be more cable consolidation in the cable industry? How do you view that in relation to Optimum.

Question: John Hodulik - UBS AG - Analyst : Okay. That's a great way to leave it. Dennis, thanks for being here.