Added a record 126,000 fiber broadband customers while growing ARPU by 5%
Delivered industry-leading Adjusted EBITDA growth of 8%

Frontier Communications Parent, Inc. (NASDAQ:FYBR) ("Frontier") reported second-quarter 2025 results today.

"Q2 was a breakout quarter for the builders of Gigabit America – we delivered record fiber sales while growing ARPU and achieved our highest quarterly revenue and EBITDA since we emerged from bankruptcy four years ago," said Nick Jeffery, President and Chief Executive Officer of Frontier.

Jeffery continued, "We built our strategy on the belief that with every new fiber customer, our business grows stronger – and this quarter, we captured outsized market share relative to our footprint. Simply put – fiber wins. We've come a long way in the last four years, and I'm incredibly grateful to our team for pushing every day to connect more homes to our high-speed fiber internet and for earning customer loyalty along the way."

Second-Quarter 2025 Highlights

Added 334,000 fiber passings to reach 8.5 million total locations passed with fiber
Added 126,000 fiber broadband customers, resulting in fiber broadband customer growth of 20.0% year-over-year
Consumer fiber broadband ARPU of $68.54 increased 4.9% year-over-year
Revenue of $1.54 billion increased 4.0% year-over-year as growth in fiber-based products was partly offset by declines in copper-based products
Operating income of $44 million and net loss of $123 million
Adjusted EBITDA of $607 million increased 8.4% year-over-year driven by revenue growth and lower content expense, partially offset by higher customer acquisition costs¹
Cash capital expenditures of $845 million
Generated net cash from operations of $477 million

Second-Quarter 2025 Consumer Results

Consumer revenue of $825 million increased 4.6% year-over-year as growth in fiber-based products was partly offset by declines in copper-based products
Consumer fiber revenue of $609 million increased 16.4% year-over-year as growth in broadband was partly offset by declines in video
Consumer fiber broadband revenue of $496 million increased 26.2% year-over-year driven by growth in both fiber broadband customers and ARPU
Consumer fiber broadband customer net additions of 120,000 resulted in Consumer fiber broadband customer growth of 20.4% year-over-year
Consumer fiber broadband customer churn of 1.29% compared to 1.40% in the second quarter of 2024

Second-Quarter 2025 Business and Wholesale Results

Business and Wholesale revenue of $697 million increased 3.0% year-over-year driven by growth in fiber-based products
Business and Wholesale fiber revenue of $330 million increased 4.1% year-over-year driven by growth in data and internet services
Business and Wholesale fiber broadband customer net additions of 6,000 resulted in Business and Wholesale fiber broadband customer growth of 14.2% year-over-year
Business and Wholesale fiber broadband ARPU of $98.72 increased 0.9% year-over-year²
Business and Wholesale fiber broadband customer churn of 1.37% compared to 1.31% in the second quarter of 2024²

Capital Structure

As of June 30, 2025, Frontier had total liquidity of approximately $2.3 billion, including a cash balance of $0.4 billion, capacity on its delayed draw term loan facility of $1.2 billion and available borrowing capacity on its revolving credit facility of $0.7 billion. Frontier's net leverage ratio on June 30, 2025, was approximately 4.9x². Frontier has no long-term debt maturities prior to 2027.

Pending Acquisition by Verizon

As previously announced, on September 4, 2024, Verizon Communications Inc. ("Verizon") and Frontier entered into a definitive agreement (the "merger agreement") for Verizon to acquire Frontier (the "transaction"). In light of the pending transaction, Frontier will not be hosting a conference call or providing a financial outlook.

The transaction is expected to close by the first quarter of 2026, subject to certain required regulatory approvals, and the satisfaction or waiver of the other conditions to the transaction described in the merger agreement.

__________________________

¹ Adjusted EBITDA is a non-GAAP measure of performance. See "Non-GAAP Measures" for a description of this measure and its calculation. See Schedule A for a reconciliation of Adjusted EBITDA to net income (loss).

² Business and Wholesale ARPU and churn methodologies exclude circuits or fiber-to-the-tower churn.

³ Net leverage ratio is a non-GAAP measure. See "Non-GAAP Measures" and the condensed consolidated balance sheet data contained herein for a description and calculation of net leverage ratio.

About Frontier

Frontier (NASDAQ:FYBR) is the largest pure-play fiber provider in the U.S. Driven by our purpose, Building Gigabit America®, we deliver blazing-fast broadband connectivity that unlocks the potential of millions of consumers and businesses. For more information, visit www.frontier.com.

Non-GAAP Financial Measures

Frontier uses certain non-GAAP financial measures in evaluating its performance, including EBITDA, EBITDA margin, Adjusted EBITDA, Adjusted EBITDA margin, operating free cash flow, adjusted operating expenses, and net leverage ratio, each of which is described below. Management uses these non-GAAP financial measures internally to (i) assist in analyzing Frontier's underlying financial performance from period to period, (ii) analyze and evaluate strategic and operational decisions, (iii) establish criteria for compensation decisions, and (iv) assist in the understanding of Frontier's ability to generate cash flow and, as a result, to plan for future capital and operational decisions. Management believes that the presentation of these non-GAAP financial measures provides useful information to investors regarding Frontier's financial condition and results of operations because these measures, when used in conjunction with related GAAP financial measures, (i) provide a more comprehensive view of Frontier's core operations and ability to generate cash flow, (ii) provide investors with the financial analytical framework upon which management bases financial, operational, compensation, and planning decisions, and (iii) present measurements that investors and rating agencies have indicated to management are useful to them in assessing Frontier and its results of operations.

A reconciliation of these measures to the most comparable financial measures calculated and presented in accordance with GAAP is included in the accompanying tables. These non-GAAP financial measures are not measures of financial performance or liquidity under GAAP, nor are they alternatives to GAAP measures, and they may not be comparable to similarly titled measures of other companies.

EBITDA is defined as net income (loss) less income tax expense (benefit), interest expense, investment and other income (loss), pension settlement costs, reorganization items, and depreciation and amortization. EBITDA margin is calculated by dividing EBITDA by total revenue.

Adjusted EBITDA is defined as EBITDA, as described above, adjusted to exclude certain pension/OPEB expenses, restructuring costs and other charges, stock-based compensation, and certain other non-recurring items. Adjusted EBITDA margin is calculated by dividing Adjusted EBITDA by total revenue.

Management uses EBITDA, EBITDA margin, Adjusted EBITDA and Adjusted EBITDA margin to assist it in comparing performance from period to period and as measures of operational performance. Management believes that these non-GAAP measures provide useful information for investors in evaluating Frontier's operational performance from period to period because they exclude depreciation and amortization expenses related to investments made in prior periods and are determined without regard to capital structure or investment activities. By excluding capital expenditures, debt repayments and dividends, among other factors, these non-GAAP financial measures have certain shortcomings. Management compensates for these shortcomings by utilizing these non-GAAP financial measures in conjunction with the comparable GAAP financial measures.

Management defines operating free cash flow as net cash provided from operating activities less capital expenditures, less payments on vendor financing related to capital expenditures. Management uses operating free cash flow to assist it in comparing liquidity from period to period and to obtain a more comprehensive view of Frontier's core operations and ability to generate cash flow. Management believes that this non-GAAP measure is useful to investors in evaluating cash available to service debt and pay dividends. This non-GAAP financial measure has certain shortcomings; it does not represent the residual cash flow available for discretionary expenditures, as items such as debt repayments are not deducted in determining such measure. Management compensates for these shortcomings by utilizing this non-GAAP financial measure in conjunction with the comparable GAAP financial measure.

Adjusted operating expenses is defined as operating expenses adjusted to exclude depreciation and amortization, restructuring and other charges, certain pension/OPEB expenses, stock-based compensation, and certain other non-recurring items. Investors have indicated that this non-GAAP measure is useful in evaluating Frontier's performance.

Net leverage ratio is calculated as net debt (total debt less cash and cash equivalents and short-term investments) divided by Adjusted EBITDA for the most recent four quarters. Investors have indicated that this non-GAAP measure is useful in evaluating Frontier's debt levels.

The information in this press release should be read in conjunction with the financial statements and footnotes contained in Frontier's documents filed with the SEC.

Forward-Looking Statements

This release contains "forward-looking statements" related to future events, including our 2025 outlook. Forward-looking statements address our expectations or beliefs concerning future events, including, without limitation, the proposed merger with Verizon (the "Merger"), future operating and financial performance, our ability to implement our growth strategy, our capital expenditures, and other matters. These statements are made on the basis of management's views and assumptions, as of the time the statements are made, regarding future events and performance and contain words such as „expect," "anticipate," "intend," "plan," "believe," "seek," "see," "may," "will," "would," or "target." Forward-looking statements by their nature address matters that are, to different degrees, uncertain. A wide range of factors could materially affect future developments and performance, including but not limited to: the risk that the Merger may not be completed in a timely manner or at all; the possibility that any or all of the various conditions to the consummation of the Merger may not be satisfied or waived, including the failure to receive any required regulatory approvals from any applicable governmental entities (or any conditions, limitations or restrictions placed on such approvals); the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement relating to the Merger, including in circumstances which would require us to pay a termination fee; the effect of the pendency of the Merger on our ability to attract, motivate or retain key executives and employees, our ability to maintain relationships with our customers, suppliers and other business counterparties, or our operating results and business generally; risks related to the Merger diverting management's attention from our ongoing business operations; the risk that the Company's stock price may decline significantly if the Merger is not consummated; our significant indebtedness, our ability to incur substantially more debt in the future, and covenants in the agreements governing our current indebtedness that may reduce our operating and financial flexibility; declines in Adjusted EBITDA and revenue relative to historical levels that we are unable to offset; economic uncertainty, volatility in financial markets, including as a result of tariff policies, and rising interest rates could limit our ability to access capital or increase the cost of capital needed to fund business operations; our ability to successfully implement strategic initiatives and realize productivity improvements; our ability to secure necessary construction resources, materials and permits for our fiber buildout initiative in a timely and cost-effective manner; inflationary pressures on costs and potential disruptions in our supply chain, including the impact of trade tariffs. which could adversely impact our financial condition or results of operations and hinder our fiber expansion plans; our ability to effectively manage our operations, operating expenses, capital expenditures, debt service requirements and cash paid for income taxes and liquidity; the impact of potential information technology or data security breaches or other cyber-attacks or other disruptions; the impact of laws and regulations relating to the handling of privacy and data protection; competition from cable, wireless carriers, satellite providers, wireline carriers, fiber "overbuilders" and over the top companies, and the risk that we will not respond on a timely or profitable basis; our ability to successfully adjust to changes in the communications industry, including the effects of technological changes and competition on our capital expenditures, products and service offerings; our ability to retain or attract new customers and to maintain relationships with existing customers, including wholesale customers; our reliance on a limited number of key supplies and vendors; declines in revenue from our voice services, switched and nonswitched access and video and data services that we cannot stabilize or offset with increases in revenue from other products and services; our ability to secure, continue to use or renew intellectual property and other licenses used in our business; our ability to dispose of certain assets or asset groups or to make acquisition of certain assets on terms that are attractive to us, or at all; the effects of changes in the availability of and requirements of receiving federal and state universal service funding, grants or other subsidies and our ability to obtain future subsidies; our ability to comply with applicable CAF II and RDOF requirements and the risk of discontinuance of funding, penalties or obligations to return certain CAF II and RDOF funds; our ability to defend against litigation or government investigations and potentially unfavorable results from current pending and future litigation or investigations; our ability to comply with applicable federal and state consumer protection requirements; the effects of governmental legislation and regulation on our business, including costs, disruptions, possible limitations on operating flexibility and changes to the competitive landscape resulting from such legislation or regulation; the impact of regulatory, investigative and legal proceedings and legal compliance risks; our ability to effectively manage service quality in the states in which we operate and meet mandated service quality metrics or regulatory requirements; the effects of changes in income tax rates, tax laws, regulations or rulings, or federal or state tax assessments, including the risk that such changes may benefit our competitors more than us, as well as potential future decreases in the value of our deferred tax assets; the effects of changes in accounting policies or practices; our ability to successfully renegotiate union contracts; the effects of increased medical expenses and pension and postemployment expenses; changes in pension plan assumptions, interest rates, discount rates, regulatory rules and/or the value of our pension plan assets; the impact of adverse changes in economic, political and market conditions in the areas that we serve, the U.S. and globally, including but not limited to, disruption in our supply chain, inflation in pricing for key materials or labor, the imposition of trade tariffs or other adverse changes resulting from epidemics, pandemics and outbreaks of contagious diseases, natural disasters, economic or political instability, terrorist attacks and wars, including the ongoing war in Ukraine and the Israel–Hamas war, or other adverse widespread developments; potential adverse impacts of climate change and increasingly stringent environmental laws, rules and regulations, and customer expectations and other environmental liabilities; potential adverse impacts from natural disasters, wildfires and other severe weather events impacting our network, operations and customer base in certain markets; market overhang due to substantial common stock holdings by our former creditors; certain provisions of Delaware law and our certificate of incorporation that may prevent efforts by our stockholders to change the direction or management of our company; and certain other factors set forth in our other filings with the SEC. This list of factors that may affect future performance and the accuracy of forward-looking statements is illustrative and is not intended to be exhaustive. You should consider these important factors, as well as the risks and other factors contained in Frontier's filings with the SEC, including our most recent report on Form 10-K. These risks and uncertainties may cause actual future results to be materially different than those expressed in such forward-looking statements. We do not intend, nor do we undertake any duty, to update any forward-looking statements.


Frontier Communications Parent, Inc.
Unaudited Financial Data



	For the			For the			For the
	three months ended			three months ended			three months ended
	June 30,			March 31,			June 30,
($ in millions and shares in thousands, except per share amounts)	2025			2025			2024

Statements of Operations Data
Revenue	$	1,539		$	1,511		$	1,480

Operating expenses:
Cost of service		532			521			516
Selling, general, and administrative expenses		490			433			449
Depreciation and amortization		457			445			398
Restructuring costs and other charges		16			36			26
Total operating expenses		1,495			1,435			1,389

Operating income		44			76			91

Investment and other income (loss), net		14			49			(24	)
Interest expense		(197	)		(200	)		(199	)

Loss before income taxes		(139	)		(75	)		(132	)
Income tax benefit		(16	)		(11	)		(9	)

Net loss	$	(123	)	$	(64	)	$	(123	)


Weighted average shares outstanding - basic		250,259			249,830			248,754
Weighted average shares outstanding - diluted		250,259			249,830			248,754


Basic net loss per common share	$	(0.49	)	$	(0.26	)	$	(0.49	)
Diluted net loss per common share	$	(0.49	)	$	(0.26	)	$	(0.49	)

Other Financial Data:
Capital expenditures	$	845		$	757		$	626


Frontier Communications Parent, Inc.
Unaudited Financial Data



	For the			For the
	six months ended			six months ended
	June 30,			June 30,
($ in millions and shares in thousands, except per share amounts)	2025			2024

Statements of Income Data
Revenue	$	3,050		$	2,942

Operating expenses:
Cost of service		1,053			1,038
Selling, general, and administrative expenses		923			877
Depreciation and amortization		902			786
Restructuring costs and other charges		52			60
Total operating expenses		2,930			2,761

Operating income		120			181

Investment and other income, net		63			88
Interest expense		(397	)		(398	)

Loss before income taxes		(214	)		(129	)
Income tax benefit		(27	)		(7	)
Net loss	$	(187	)	$	(122	)

Weighted average shares outstanding - basic		250,019			247,382
Weighted average shares outstanding - diluted		250,019			247,382

Basic net loss per common share	$	(0.75	)	$	(0.49	)
Diluted net loss per common share	$	(0.75	)	$	(0.49	)

Other Financial Data:
Capital expenditures	$	1,602		$	1,292


Frontier Communications Parent, Inc.
Unaudited Financial Data


	For the quarter ended
	June 30,		March 31,		June 30,
($ in millions)	2025		2025		2024

Selected Statement of Income Data
Revenue:
Data and Internet services	$	1,085	$	1,049	$	983
Voice services		282		290		312
Video services		68		74		88
Other		87		82		83
Revenue from contracts with customers		1,522		1,495		1,466
Subsidy and other revenue		17		16		14
Total revenue	$	1,539	$	1,511	$	1,480

Other Financial Data
Revenue:
Consumer	$	825	$	813	$	789
Business and wholesale		697		682		677
Revenue from contracts with customers	$	1,522	$	1,495	$	1,466

Fiber	$	939	$	913	$	840
Copper		583		582		626
Revenue from contracts with customers	$	1,522	$	1,495	$	1,446


	For the six months ended		For the six months ended
	June 30,		June 30,
($ in millions)	2025		2024

Selected Statement of Income Data
Revenue:
Data and Internet services	$	2,134	$	1,930
Voice services		572		633
Video services		142		182
Other		169		167
Revenue from contracts with customers		3,017		2,912
Subsidy and other revenue		33		30
Total revenue	$	3,050	$	2,942

Other Financial Data
Revenue:
Consumer	$	1,638	$	1,576
Business and wholesale		1,379		1,336
Revenue from contracts with customers	$	3,017	$	2,912

Fiber	$	1,852	$	1,645
Copper		1,165		1,267
Revenue from contracts with customers	$	3,017	$	2,912


Frontier Communications Parent, Inc.
Unaudited Operating Data


	As of and for the three months ended									For the six months ended
	June 30, 2025			March 31, 2025			June 30, 2024			June 30, 2025			June 30, 2024

Broadband customer metrics ⁽¹⁾
Broadband customers (in thousands)		3,227			3,153			3,010			3,227			3,010
Net customer additions		74			59			36			133			67

Consumer customer metrics
Customers (in thousands)		3,283			3,232			3,154			3,283			3,154
Net customer additions		51			39			14			90			25
Average monthly consumer
revenue per customer	$	84.43		$	84.40		$	83.57		$	84.44		$	83.69
Customer monthly churn		1.61	%		1.51	%		1.65	%		1.56	%		1.56	%

Employees		12,765			12,738			12,960			12,765			12,960


⁽¹⁾ Amounts presented include related metrics for our wholesale customers.


Frontier Communications Parent, Inc.
Condensed Consolidated Balance Sheet Data



($ in millions)	June 30, 2025			December 31, 2024

ASSETS
Current assets:
Cash and cash equivalents	$	412		$	750
Accounts receivable, net		430			379
Other current assets		183			131
Total current assets		1,025			1,260

Property, plant and equipment, net		16,785			15,678
Other assets		3,455			3,676
Total assets	$	21,265		$	20,614

LIABILITIES AND EQUITY
Current liabilities:
Long-term debt due within one year	$	10		$	10
Accounts payable and other current liabilities		2,860			2,279
Total current liabilities		2,870			2,289

Deferred income taxes and other liabilities		1,774			1,833
Long-term debt		11,860			11,551
Equity		4,761			4,941
Total liabilities and equity	$	21,265		$	20,614


	As of
	June 30, 2025
Leverage Ratio
Numerator:
Long-term debt due within one year	$	10
Long-term debt		11,860
Total debt	$	11,870
Less: Cash and cash equivalents		(412	)
Net debt	$	11,458

Denominator:
Adjusted EBITDA - last 4 quarters	$	2,334

Net Leverage Ratio		4.9	x


Frontier Communications Parent, Inc.
Unaudited Consolidated Cash Flow Data




	For the three months ended
	June 30, 2025			June 30, 2024
($ in millions)

Cash flows provided from (used by) operating activities:
Net loss	$	(123	)	$	(123	)
Adjustments to reconcile net loss to net cash provided from
(used by) operating activities:
Depreciation and amortization		457			398
Pension/OPEB special termination benefit enhancements		-			3
Stock-based compensation		13			11
Amortization of premium		(6	)		(5	)
Bad debt expense		10			11
Other adjustments		5			3
Deferred income taxes		(18	)		(10	)
Change in accounts receivable		(24	)		1
Change in long-term pension and other postretirement liabilities		(36	)		28
Change in accounts payable and other liabilities		224			49
Change in prepaid expenses, income taxes, and other assets		(25	)		8
Net cash provided from operating activities		477			374

Cash flows provided from (used by) investing activities:
Capital expenditures		(845	)		(626	)
Sale of short-term investments ⁽¹⁾		-			225
Proceeds from sale of asset		2			4
Other		2			4
Net cash used by investing activities		(841	)		(393	)

Cash flows provided from (used by) financing activities:
Long-term debt payments		(3	)		(3	)
Proceeds from long-term debt borrowings		230			-
Payments of vendor financing		-			(52	)
Finance lease obligation payments		(11	)		(8	)
Taxes paid on behalf of employees for shares withheld		(1	)		(6	)
Other		(6	)		(3	)
Net cash provided from (used by) financing activities		209			(72	)

Decrease in cash, cash equivalents, and restricted cash		(155	)		(91	)
Cash, cash equivalents, and restricted cash at the beginning of the period		719			1,337

Cash, cash equivalents, and restricted cash at the end of the period	$	564		$	1,246

Supplemental cash flow information:
Cash paid during the period for:
Interest	$	265		$	263
Income tax payments, net	$	2		$	4

⁽¹⁾ Amounts represent cash movement to/from short-term investments. Given the long-term nature of the fiber build, we have invested cash in short-term investments to improve interest income while preserving funding flexibility.


Frontier Communications Parent, Inc.
Unaudited Consolidated Cash Flow Data




	For the six months ended
	June 30, 2025			June 30, 2024
($ in millions)

Cash flows provided from (used by) operating activities:
Net loss	$	(187	)	$	(122	)
Adjustments to reconcile net loss to net cash provided from
(used by) operating activities:
Depreciation and amortization		902			786
Pension/OPEB special termination benefit enhancements		-			10
Stock-based compensation		28			37
Amortization of premium		(11	)		(10	)
Bad debt expense		21			20
Other adjustments		10			7
Deferred income taxes		(30	)		(10	)
Change in accounts receivable		(72	)		(8	)
Change in long-term pension and other postretirement liabilities		(102	)		(118	)
Change in accounts payable and other liabilities		446			76
Change in prepaid expenses, income taxes, and other assets		(9	)		41
Net cash provided from operating activities		996			709

Cash flows provided from (used by) investing activities:
Capital expenditures		(1,602	)		(1,292	)
Sale of short-term investments ⁽¹⁾		-			1,075
Proceeds on sale of assets		3			4
Other		2			6
Net cash used by investing activities		(1,597	)		(207	)

Cash flows provided from (used by) financing activities:
Long-term debt payments		(3	)		(7	)
Proceeds from long-term debt borrowings		330			-
Payments of vendor financing		(16	)		(415	)
Financing costs paid		(17	)		-
Finance lease obligation payments		(21	)		(15	)
Taxes paid on behalf of employees for shares withheld		(11	)		(49	)
Other		(8	)		(9	)
Net cash provided from (used by) financing activities		254			(495	)

Increase (Decrease) in cash, cash equivalents, and restricted cash		(347	)		7
Cash, cash equivalents, and restricted cash at the beginning of the period		911			1,239

Cash, cash equivalents, and restricted cash at the end of the period	$	564		$	1,246

Supplemental cash flow information:
Cash paid during the period for:
Interest	$	406		$	412
Income tax payments (refund), net	$	2		$	(9	)

⁽¹⁾ Amounts represent cash movement to/from short-term investments. Given the long-term nature of the fiber build, we have invested cash in short-term investments to improve interest income while preserving funding flexibility.


SCHEDULE A
Frontier Communications Parent, Inc.
Unaudited Financial Data
Reconciliation of Non-GAAP Financial Measures


	For the three months ended									For the six months ended
	June 30,			March 31,			June 30,			June 30,			June 30,
($ in millions)	2025			2025			2024			2025			2024



Net loss	$	(123	)	$	(64	)	$	(123	)	$	(187	)	$	(122	)
Add back (subtract):
Income tax benefit		(16	)		(11	)		(9	)		(27	)		(7	)
Interest expense		197			200			199			397			398
Investment and other (income) loss, net		(14	)		(49	)		24			(63	)		(88	)
Operating income		44			76			91			120			181
Depreciation and amortization		457			445			398			902			786
EBITDA	$	501		$	521		$	489		$	1,022		$	967

Add back:
Pension/OPEB expense	$	8		$	8		$	9		$	16		$	18
Restructuring costs and other charges		16			36			26			52			60
Stock-based compensation		13			15			11			28			37
Storm-related costs		3			3			-			6			-
Legal settlements		66			-			25			66			25
Adjusted EBITDA	$	607		$	583		$	560		$	1,190		$	1,107

EBITDA margin		32.6	%		34.5	%		33.0	%		33.5	%		32.9	%
Adjusted EBITDA margin		39.4	%		38.6	%		37.8	%		39.0	%		37.6	%

*Free Cash Flow*
Net cash provided from
operating activities	$	477		$	519		$	374		$	996		$	709
Capital expenditures		(845	)		(757	)		(626	)		(1,602	)		(1,292	)
Payment of vendor financing- capital
expenditures		-			(16	)		(52	)		(16	)		(415	)
Operating free cash flow	$	(368	)	$	(254	)	$	(304	)	$	(622	)	$	(998	)


SCHEDULE B
Frontier Communications Parent, Inc.
Unaudited Consolidated Financial Data
Reconciliation of Non-GAAP Financial Measures


	For the three months ended						For the six months ended
	June 30,		March 31,		June 30,		June 30,		June 30,
($ in millions)	2025		2025		2024		2025		2024
Adjusted Operating Expenses


Total operating expenses	$	1,495	$	1,435	$	1,389	$	2,930	$	2,761

Subtract:
Depreciation and amortization		457		445		398		902		786
Pension/OPEB expense		8		8		9		16		18
Restructuring costs and other charges		16		36		26		52		60
Stock-based compensation		13		15		11		28		37
Storm-related costs		3		3		-		6		-
Legal settlements		66		-		25		66		25
Adjusted operating expenses	$	932	$	928	$	920	$	1,860	$	1,835


SCHEDULE C
Frontier Communications Parent, Inc.
Selected Financial and Operating Data ⁽¹⁾
(Unaudited)


			As of or for the quarter ended									For the six months ended
			June 30, 2025			March 31, 2025			June 30, 2024			June 30, 2025			June 30, 2024

Broadband Revenue ($ in millions)
	Total Company	Fiber	$	541		$	514		$	432		$	1,055		$	846
		Copper		125			129			151			254			306
		Total	$	666		$	643		$	583		$	1,309		$	1,152

Estimated Fiber Passings (in millions)
	Base Fiber Passings			3.2			3.2			3.2
	Total Fiber Passings			8.5			8.1			7.2

Estimated Broadband Fiber % Penetration
	Base Fiber Penetration			47.2	%		46.9	%		45.3	%
	Total Fiber Penetration			30.9	%		30.7	%		30.4	%

Broadband Customers, end of period (in thousands)
	Consumer	Fiber		2,472			2,352			2,053
		Copper		526			571			721
		Total		2,998			2,923			2,774

	Business + Wholesale ⁽²⁾	Fiber		153			147			134
		Copper		76			83			102
		Total		229			230			236

Broadband Net Adds (in thousands)
	Consumer	Fiber		120			103			90
		Copper		(45	)		(41	)		(50	)
		Total		75			62			40

	Business + Wholesale ⁽²⁾	Fiber		6			4			2
		Copper		(7	)		(7	)		(6	)
		Total		(1	)		(3	)		(4	)

Broadband Churn
	Consumer	Fiber		1.29	%		1.20	%		1.40	%		1.25	%		1.32	%
		Copper		2.26	%		2.06	%		2.02	%		2.16	%		1.98	%
		Total		1.48	%		1.38	%		1.57	%		1.43	%		1.51	%

	Business + Wholesale ⁽²⁾	Fiber		1.37	%		1.53	%		1.31	%		1.45	%		1.32	%
		Copper		2.85	%		2.45	%		1.99	%		2.65	%		2.00	%
		Total		1.89	%		1.88	%		1.61	%		1.88	%		1.63	%
Broadband ARPU
	Consumer	Fiber	$	68.54		$	68.21		$	65.32		$	68.40		$	65.39
		Copper		65.11			62.39			58.26			63.78			57.20
		Total	$	67.91		$	67.02		$	63.41		$	67.49		$	63.06

	Business + Wholesale ⁽²⁾	Fiber	$	98.72		$	99.98		$	97.83		$	99.43		$	98.09
		Copper		73.85			71.32			63.83			72.61			62.38
		Total	$	90.08		$	89.25		$	85.57		$	89.69		$	81.98



⁽¹⁾ Certain operational metrics, including passings, penetration, Base Fiber penetration, ARPU and churn are defined in the accompanying Trending Schedule available at Frontier's website https://investor.frontier.com.

⁽²⁾ Business + Wholesale customers include our small, medium business, larger enterprise (SME) customers and wholesale subscribers.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250729782204/en/

Media Contact

Chrissy Murray

VP, Corporate Communications

+1 504-952-4225

chrissy.murray@ftr.com

Frontier Reports Second-Quarter 2025 Results