Uniti Group Inc. · NASDAQ:UNIT
Uniti — Q1 2025 Earnings Presentation
21 slides from Uniti's earnings presentation, May 1, 2025
Slide 1: 1Q25 Financial Earnings May 1, 2025
1Q25 Financial Earnings May 1, 2025
Slide 2: Forward-looking statements
2 This presentation includes forward-looking statements that are subject to risks and uncertainties that could cause actual future events and results to differ materially from those expressed in the forward-looking statements. Forward-looking statements are typically identified by words or phrases s
Slide 3: Presenters
3 Paul Sunu Chief Executive Officer Drew Smith Chief Financial Officer & Treasurer Genesis White VP, Investor Relations & Assistant Treasurer
Slide 4: Strategic priorities: Forge Ahead With Fiber, Fortify, Foster
4 Be the PREMIER broadband provider Be the INNOVATIVE wholesale leader OPERATIONS & SUPPORT Be the unwavering foundation that aligns, nurtures and enables us to be our best Focus o diversity and inclusion Forge Ahead With Fiber Fortify Our High-Quality Focus Foster Healthy Customer Connections Pave
Slide 5: Fiber premises passed and subscribers growth
1.2M 1.5M 1.6M 2.0M 2022A 2023A 2024A 2025E +15% CAGR 5 287K 383K 446K ~550K 2022A 2023A 2024A 2025E +25% CAGR 28% Fiber Penetration Consumer Fiber Premises Passed Consumer Fiber Subscribers 43% Fiber Coverage
Slide 6: 1Q25 highlights
6 Continued progress towards planned Uniti merger, with close expected in early 2H25 Completed additional sale of IPv4 assets for over $25M (~$155M over last 5 quarters) Achieved Adjusted EBITDAR(1) of $370M, up $40M sequentially Consumer fiber expansion continued with 38K new premises constructed d
Slide 7: Consumer Fiber Expansion
7 Consumer Fiber Expansion (1 Gbps Consumer Premises Passed by Type) Extending our Fiber Coverage 38K new consumer premises added in 1Q25 ~1.7M consumer premises passed, representing 38% coverage of consumer households (1) Calculated using Fiber Subscriber revenue, less standard modem rental charge
Slide 8: Marketing Initiatives Continue to Drive Strong Early Penetration
25% 28% 26% 29% 32% 30% 2022 2023 2024 Marketing Initiatives Continue to Drive Strong Early Penetration Note: Cohort penetration reflects consumers on 1G capable facilities, within the respective cohort, at the 12-month (Year 1 Penetration), 24-month (Year 2 Penetration), and 36-month (Year 3 Penetr
Slide 9: Financial Overview
Financial Overview 2024 2024 2024 2024 2024 2025 Q1 Q2 Q3 Q4 YE Q1 Revenue and Sales Kinetic Market $ 577 $ 557 $ 538 $ 528 $ 2,200 $ 529 Managed Services Market 283 257 250 235 1,025 240 Wholesale Market 117 102 115 103 437 111 Service Revenue $ 977 $ 916 $ 903 $ 866 $ 3,661 $ 880 Product & Fiber S
Slide 10: Debt maturity and net liquidity
$0 $0 $… $0 $2,200 $- $500 $1,000 $1,500 $2,000 $2,500 $3,000 $3,500 2025 2026 2027 2028 2029 2030 2031 $475 Debt Maturity as of November 10, 2022 Revolver Draw Note: Available capacity under credit facility excludes outstanding letters of credit of $188.3 million of which $156.8 million was issued
Slide 11: 2025 Guidance
11 (all $ in millions) 2024 Results 2025 Guidance Adjusted EBITDAR(1) $1,457M Approximately $1.4B Cash Interest $207M Approximately $230M Capex $884M Approximately $1.1B Kinetic Consumer Subscriber Revenue (2.9%) Low-single digit growth y/y (1) Excluding impact of non-core operating asset sales duri
Slide 12: Quarterly supplemental schedules (Pro Forma) Appendix
Quarterly supplemental schedules (Pro Forma) Appendix 12
Slide 13: Non-GAAP measures definitions
Supplemental Financial Information Windstream Holdings II, LLC ("Windstream’,, "we", "us", "our", or "the Company”) has presented in this Investor Supplement unaudited adjusted results, which excludes depreciation and amortization, straight-line expense under the master leases with Uniti Group, Inc.
Slide 14: Adjusted results of operations
eu Teeth query ped inte yews 2025 an 2024 aralion) ADIUSTED RESULTS OF OPERATIONS: evens adele Prieto eee orl eve sd le, Supplemental Financial Information 20s 2004 rer Taat aE EI a rrr s smo sess sso s soo $ s 767 xs 9s a2 sss ag 105 78 108 87 168 100 198 128 1589 1652 31s cal 358 Sot 355 462 4082)
Slide 15: Unaudited adjusted results of operations (non-GAAP)
‘WINDSTREAM HOLDINGS I, LLC ‘UNAUDITED ADJUSTED RESULTS OF OPERATIONS (NON-GAAP) QUARTERLY SUPPLEMENTAL INFORMATION for the quarterly periods inthe years 2025 and 2024 amillions) Asof 3/31/2025 ‘Debt Leverage Ratio: ‘Long-term debs. including current matusities (E) ‘Add: Capital lease obligations Le
Slide 16: Revenue and Adjusted EBITDAR supplement
Supplemental Financial Information WINDSTREAM HOLDINGS II, LLC QUARTERLY SUPPLEMENTAL INFORMATION - REVENUE AND ADJUSTED EBITDAR SUPPLEMENT for the quarterly periods in the years 2025 and 2024 a niillions) 2025 2024 Revenues and sales: 1st Qtr Total Ener 3rd Qe 2nd Qi ist Qi Kinetic Market 5 st OS 2
Slide 17: Quarterly supplemental information - business segments
Supplemental Financial Information ‘WINDSTREAM HOLDINGS 1LLLC (QUARTERLY SUPPLEMENTAL FORMATION - BUSINESS SEGMENTS fete query pend in te ear 025 and 2004 ‘amliees) ams 2m ise Tea Ener Bau Taide Tage Kinetic Revers and sales: ler sosurbe (A) s mss sos ors s s 958 DSL ocr nd oer 182 36 1932 29 Consum
Slide 18: Quarterly supplemental information - business segments
Supplemental Financial Information WINDSTREAM HOLDINGS IL LLC (QUARTERLY SUPPLEMENTAL INFORMATION - BUSINESS SEGMENTS forthe quarterly periods in the years 2025 and 2024 a millions) 2025 2024 is1Qe Toul Enea 3d Qu. ad Qu. TQ Total segment revenues and expenses Revenues and sales Service reves s s00
Slide 19: Quarterly supplemental information - operating statistics
Supplemental Financial Information WINDSTREAM HOLDINGS I, LLC QUARTERLY SUPPLEMENTAL INFORMATION - OPERATING STATISTICS for the quarterly periods inthe years 2025 and 2024 (Units in thousands, Dollars in millions, except per unit amounts) ‘Kinetic Operating Metries: Fiber consumer brondband customer
Slide 20: Quarterly supplemental information - non-GAAP reconciliation
Supplemental Financial Information ‘wINDsTREAM HOLDINGS LLC ‘QUARTERLY SUPPLEMENTAL INFORMATION -NON GAAP RECONCILIATION: {ibe ure pint ens 325 D8 Geasies) ams ons - cas ior Ta En ia Ri rrr Nets soe Ss asp 8 cua sawp sm 8 s 97 ‘tar nn) xe. mt co} ie Be on © Inet expese s2 296 m9 oH Se ison erage of
Slide 21: Reconciliation of previously reported to revised segment information
Supplemental Financial Information WINDSTREAM HOLDINGS I. LLC RECONCILIATION OF PREVIOUSLY REPORTED TO REVISED SEGMENT AND CONSOLIDATED INFORMATION for the year ended December 31, 2024 (In millions) ‘Managed Services (formerly Total Kinetic Enterprise) Wholesale Eliminations Consolidated Revenues an