Liberty Global Ltd. · NASDAQ:LBTYA

Liberty Global — Merger or Acquisition (February 2026)

6 slides from Liberty Global's merger presentation, Feb 18, 2026

  1. Slide 1: Market Trends: Several Factors Support Renewed Investor Interest in the European Telecom Sector

    15 LIBERTY GLOBAL | MARKET TRENDS SEVERAL FACTORS SUPPORT RENEWED INVESTOR INTEREST IN THE EUROPEAN TELECOM SECTOR IMPROVING REGULATORY  Draft Digital Networks Act and Cybersecurity Act should be beneficial on balance; new EU merger guidelines in H1 ‘26  Telco’s role as critical infrastructure bec

  2. Slide 2: Liberty Telecom Update on 2025 Goals: On Track to Deliver on Both

    16 LIBERTY TELECOM | UPDATE ON 2025 GOALS WE ARE ON TRACK TO DELIVER ON BOTH OF OUR 2025 STRATEGIC GOALS LIBERTY TELECOM KEY 2025 GOALS CURRENT UPDATE Prepare each of the Benelux operating companies for the next phase of value creation  New CEO at VodafoneZiggo  Wyre & Telenet separation complete

  3. Slide 3: Acquisition of Vodafone's 50% Stake in VodafoneZiggo Unlocks Synergies and Creates Path to Benelux Listing

    LIBERTY TELECOM | ACQUISITION OF VODAFONE’S 50% STAKE IN VODAFONEZIGGO UNLOCKS SYNERGIES AND CREATES CLEAR PATH TO BENELUX LISTING 17 90% 10% 2.7m Postpaid mobile 1.9m Fixed subs €2.6B Revenue €0.7B Adj. EBITDAaL 5.3m Postpaid mobile 3.3m Fixed subs €4.0B Revenue €1.8B Adj EBITDA 100%100% 33%  Voda

  4. Slide 4: VodafoneZiggo Recent Performance: New Strategic Plan Driving Clear Operational Turnaround

    VODAFONE ZIGGO | RECENT PERFORMANCE NEW STRATEGIC PLAN IS DRIVING A CLEAR OPERATIONAL TURNAROUND 18 Materially lower churn intent amongst migrated customers and increased in- contract base Repositioned broadband pricing with new front book pricing and proactively right-priced the fixed base Launched

  5. Slide 5: VodafoneZiggo Outlook: Expect VZ to Be Back to Growth After One-Off Investments in 2026

    VODAFONE ZIGGO | OUTLOOK EXPECT VZ TO BE ‘BACK TO GROWTH’ AFTER ONE-OFF INVESTMENTS IN 2026 19 UPDATED MEDIUM-TERM OUTLOOK  2025 Adj. EBITDA delivered in-line with plan given anticipated impact of front book repricing and commercial initiatives  2026 Adj. EBITDA impacted by €50m investment focused

  6. Slide 6: Telenet Update & Outlook: Positioned for Significant Adj. FCF Growth

    TELENET | UPDATE & OUTLOOK POSITIONED FOR SIGNIFICANT ADJ. FCF GROWTH 20 EXECUTING VALUE CREATION STEPS IN BELGIUM STRONG TELENET EQUITY STORY  Telenet & Wyre separation complete and will create two distinct credit silos and operating businesses  On track to finalize network sharing agreement with

Liberty Global — Merger or Acquisition (February 2026) on 6ix