Slide 1: 4th Quarter and Full Year 2025 Results
4 Quarter and Full Year th 2025 Results January 29, 2026
Slide 2: Important Information
IMPORTANT INFORMATION Caution Concerning Forward-looking Statements This presentation includes statements that may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, and Section 21E of the Sec
Slide 3: Consolidated 2025 Financial Results
Consolidated 2025 Financial Results ($ in billions, except per share data) Revenue Adj. EBITDA Adj. EPS -% (1.8%) (0.6%) $123.7 $123.7 $38.1 $37.4 $4.33 $4.31 2024 2025 2024 2025 2024 2025 Free Cash Flow Generation of $19.2 Billion*; Return of Capital to Shareholders of $11.7 Billion 3 *Includes a $
Slide 4: Consolidated 4Q 2025 Financial Results
Consolidated 4Q 2025 Financial Results ($ in billions, except per share data) Revenue Adj. EBITDA Adj. EPS +1.2% (10.3%)* (12.4%) $32.3 $8.8 $31.9 $0.96 $7.9 $0.84 4Q24 4Q25 4Q24 4Q25 4Q24 4Q25 Free Cash Flow Generation of $4.4 Billion**; Return of Capital to Shareholders of $2.7 Billion 4 *Results
Slide 5: Connectivity & Platforms
4Q 2025 4Q 2025 Revenue Adj. EBITDA Commentary Connectivity ($M) y/y % y/y % & Platforms Revenue ($B) • Residential Connectivity revenue +2%, with domestic wireless revenue +18%, international connectivity revenue +2%, and $20.5 domestic broadband revenue (1%) $20.2 (2.0%) • Convergence revenue +1.9
Slide 6: Content & Experiences
4Q 2025 4Q 2025 Revenue Adj. EBITDA Commentary Content & ($M) y/y % y/y % Experiences • Theme Parks successful performance fueled by the opening of Revenue ($B) $2,893 $1,035 Epic Universe in Orlando in May $12.7 Theme Parks +21.9% +23.5% $12.1 • Theme Parks crossed $1B in Quarterly EBITDA for the f
Slide 7: Free Cash Flow & Capital Allocation Framework
Free Cash Flow & Capital Allocation Framework • Fuel revenue growth through organic investment Capital Allocation • Protect our strong balance sheet position; maintain strong investment grade credit ratings • Return capital to shareholders Consolidated Capital ($B)* Balance Sheet Statistics Return o
Slide 8: Appendix
Se COMCAST APPENDIX
Slide 9: Free Cash Flow Generation
Free Cash Flow Generation Adjusted EBITDA to Free Cash Flow Walk FY 2025 ($B) Changes in Noncash share- Capital Software & Cash interest Adjusted EBITDA Cash taxes operating assets based compensation Free Cash Flow expenditures intangibles expense and liabilities and Other $37.4 ($11.8) ($2.7) $1.4
Slide 10: Notes
NOTES Numerical information is presented on a rounded basis using actual amounts, unless otherwise noted. The change in Peacock paid subscribers is calculated using rounded paid subscriber amounts. Minor differences in totals and percentage calculations may exist due to rounding. We define Adjusted