Lict Corp. · OTC:LICT
Lict — Shareholder Meeting (July 2026)
34 slides from Lict's shareholder meeting presentation, Jul 29, 2026
Slide 1: LICT Corporation Annual Shareholder Meeting
LICT Corporation Delivering Value Broadband Communication Services to Rural America Annual Shareholder Meeting July 29, 2026
Slide 2: Forward-Looking Statements
Forward-Looking Statements This communication contains forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding the health and recovery of our Chairman and CEO, the expected uncertainty of the timeline for his return to full duties, the conti
Slide 3: Safe Harbor Statement
Safe Harbor Statement Safe Harbor Statement The information contained herein is current only as of the date hereof; however, unless otherwise indicated, financial information contained herein is as of December 31, 2025. The business, prospects, financial condition or performance of LICT Corporation
Slide 4: Corporate Management
Corporate Management Mario Gabelli Executive Chairman & Interim Chief Executive Officer LICT Joe Cecin Chief Operating Officer Who We Are Stephen Moore Vice President - Finance Christian Mueller Corporate Controller www.LICTcorp.com
Slide 5: LICT Update
We are pleased that Mario Gabelli continues to improve and recover. The timeline for his full return is not yet known. The Company’s day-to-day LICT operations continue to be led by Update management under the oversight of the Board of Directors, which remains fully engaged.
Slide 6: Who We Are
Rural Focus • Holding company consisting of communications carriers in rural markets across seven states Opportunity • Fragmented industry with lower competition LICT than metro areas and broadband growth Partnerships Who We Are • Strong state and federal partnerships for rural broadband with bipart
Slide 7: The Broadband Opportunity in Rural America
• Increasing broadband need in rural/suburban markets The • Driven by remote work, Broadband education, healthcare, agriculture Opportunity in Rural • Bipartisan support for rural broadband funding America • Penetration opportunity exists across all markets • Positioned to meet demand with broadband
Slide 8: Financial Overview
Financial Overview $ in Millions – Except EPS and Shares 2025 2024 Revenue $141.4 $134.2 EBITDA from $56.4 $55.4 Operations EPS $805 $941 Cap Ex (Net of Grants) $52.6 $63.3 Shares Outstanding 15,326 16,173 8
Slide 9: Share Repurchases
Share Repurchases $ in millions # of Shares Year End Year Repurchased Shares O/S 2025 847 15,326 2024 798 16,173 www.LICTcorp.com 2023 370 16,971 2022 530 17,341 2021 622 17,871 2020 655 18,533 2019 743 19,188 9
Slide 10: CapEx
CapEx (in millions) Gross Capital Expenditures 2025: $77.0 million ($52.6 net of grants) 2024: $68.5 million ($63.3 net of grants) Network Expansion – 2025 through 2028 Net Capex $260 +/- million* Total Gross Capex $430 +/- million Grants within Capex $170 +/- million 10
Slide 11: Liquidity and Leverage
Liquidity and Leverage $ in Millions 2025 2024 Cash and Deposits $12.4 $11.4 Debt $92.0 $66.6 Net Debt $80.3 $57.1 Leverage Ratio 1.5 x EBITDA ~1.0 x EBITDA 11
Slide 12: Why LICT Now
• markets are at a transformational inflection point, and we are positioned to capture renewed growth Why LICT • We pursued and won substantial grants Now to support our network buildout to strengthen our communities • Current investment cycle (2025–2028) - Upgrades and extends our network - Support
Slide 13: Joe Cecin, Chief Operating Officer
JOE CECIN Chief Operating Officer
Slide 14: LICT Today
LICT Today Cal-Ore Centracom Central Scott Cuba City Corporate Office JBN/Giant Rye, NY Haviland Sound Broadband Western New Mexico 14
Slide 15: Examples of Rural Market Reach
Examples of Rural Market Reach UTAH INCUMBENT: 34,000+ | SALT NEW MEXICO INCUMBENT: 12,000+ IOWA/WISCONSIN INCUMBENT: LAKE CITY: 210,000+ DEMING/SOCORRO: 11,500+ | DUBUQUE: 55,000+ 23,000+ Our incumbent market presence facilitates “edge-out” market opportunities
Slide 16: Competitive Advantages
Competitive Advantages • Long standing local presence in underserved markets • Diversified revenue streams Geography, customer and technology • Long standing federal/state funding partnerships • Veteran team with operational experience • Strong track record of execution and trust
Slide 17: Technology Roadmap
Technology Roadmap • Fiber-to-the-home (FTTH) upgrades in core markets • Licensed & unlicensed fixed wireless to accelerate coverage in a capital efficient manner • Preparing for multi-gigabit speeds and smart home/smart city demand • Scalable rural enterprise and residential services
Slide 18: Public Funding
Public Funding The company benefits from federal and state programs supporting our revenues and capital projects. • E- ACAM (Enhanced Alternative Connect America Model) • Universal Service Funds • Federal/State Loans and Grants • BEAD (Broadband Equity, Access and Deployment) 18
Slide 19: CapEx-Funded Expansion
Network Upgrade and Expansion (2025– 2028): $430M Gross Capex 2025 actual: $77.0M CapEx- Government Grants (2025-2028): ($170M) Funded 2025 actual: $24.4M Expansion Net CapEx (2025-2028): $260M 2025 actual: $52.6M
Slide 20: A Business Designed to Compound Value
• Deep roots in rural markets • Diversified revenue streams: fiber, A Business wireless, enterprise, residential Designed to Compound • Government-backed revenue visibility (E-ACAM: $37.2M–$40.4M annually Value through 2038, ~$541.7M total) • 37 acquisitions (Including Gunnison Telephone Co. – Close
Slide 21: Financials
FINANCIALS CHRISTIAN MUELLER Corporate Controller
Slide 22: 2025 Annual Results
2025 ANNUAL RESULTS
Slide 23: Financial Highlights – 2025 vs. 2024
Financial Highlights – 2025 vs. 2024 $ in millions except EPS & Shares 2025 2024 Revenue $141.4 $134.2 EBITDA from Operations $56.4 $55.4 EBITDA Margin 39.9% 41.3% EPS $805 $941 Cap Ex (Net of Grants) $52.6 $63.3 Shares Outstanding 15,326 16,173 23
Slide 24: 2nd Qtr 2026 Results
2ND QTR 2026 RESULTS
Slide 25: Financial Highlights 2nd Qtr 2026
Financial Highlights 2nd Qtr 2026 $ in millions except EPS & Shares Q2 2026 Q2 2025 Revenue $40.6 $34.4 EBITDA from Operations $18.2 $13.5 EBITDA Margin 44.8% 39.2% EPS $403 $198 Cap Ex (Net of Grants) $7.8 $11.5 Shares Outstanding 15,297 15,732 25
Slide 26: Liquidity and Leverage
Liquidity and Leverage $ in millions Q2 2026 YE 2025 YE 2024 Cash and Deposits $16.5 $12.4 $11.4 Debt $96.0 $92.0 $66.6 Net Debt $80.1 $80.3 $57.1 Debt Leverage 1.5x 1.5x 1x 26
Slide 27: LICT – Post Network Expansion
LICT – Post Network Expansion Estimates - 2029 and beyond • EBITDA from Operations: – Increases to ~$80M (from ~$56M) • Capital Expenditures: – Decreases significantly from current levels • Free Cash Flow: – Ramps post-2028 • Leverage ratio: – ~2.0x high water mark, expected to decline post 2028
Slide 28: Shareholder Compensation
SHAREHOLDER COMPENSATION Charitable Giving Share Repurchases
Slide 29: Charitable Giving
CHARITABLE GIVING 2025 - $1.0 million $11.2 million since inception in 2016 $100 per registered shareholder
Slide 30: Share Repurchases
SHARE REPURCHASES 2026 YTD - 29 2025 - 847
Slide 31: Joe Cecin, Chief Operating Officer
JOE CECIN Chief Operating Officer
Slide 32: Closing
Closing: • Operational excellence in rural broadband • Near-term investment/growth with significant grant funding • Long-term positive free cash flow • Proven M&A/spin-off record • Experienced management team Short term capital investment for durable competitive advantage
Slide 33: Q&A and Contact Information
Q&A LICT Corporation Contact Information Administration@lictcorp.com (914) 921-8821 Delivering Broadband Communication Services to Rural America
Slide 34: LICT Corporation Annual Shareholder Meeting
LICT Corporation Delivering Broadband Communication Services to Rural America Annual Shareholder Meeting July 29, 2026