Frontier (FYBR)Investor Day Presentation August 5, 2021

Safe Harbor statement This presentation contains "forward-looking statements" related to future events. Forward-looking statements address our expectations or beliefs concerning future events, including, without limitation, our future operating and financial performance, our ability to comply with the covenants in the agreements governing our indebtedness 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,” “forecast,” “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: 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; our ability to successfully implement strategic initiatives, including our fiber buildout and other initiatives to enhance revenue and realize productivity improvements and cost savings; competition from cable, wireless and wireline carriers, satellite, 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; risks related to disruption in our networks, infrastructure and information technology that result in customer loss and/or incurrence of additional expenses; the impact of potential information technology or data security breaches or other cyber-attacks or other disruptions; our ability to retain or attract new customers and to maintain relationships with customers, including wholesale customers; our reliance on a limited number of key supplies and vendors; declines in revenue from our voice services, switched and non-switched 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 hire or retain key personnel; 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 federal and state universal service funding or other subsidies to us and our competitors and our ability to obtain future subsidies, including participation in the proposed RDOF program; our ability to meet our CAF II and RDOF obligations and the risk of penalties or obligations to return certain CAF II and RDOF funds; our ability to defend against litigation and potentially unfavorable results from current pending and future litigation; 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; the effects of changes in income tax rates, tax laws, regulations or rulings, or federal or state tax assessments; 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 likelihood that our historical financial information may no longer be indicative of our future performance and our implementation of fresh start accounting; adverse changes in economic, political and market conditions in the areas that we serve, the U.S. and globally; potential adverse impacts of the COVID-19 pandemic on our business and operations, including potential disruptions to the work of our employees arising from health and safety measures such as social distancing and working remotely, our ability to effectively manage increased demand on our network, our ability to maintain relationships with our current or prospective customers and vendors, as well as their abilities to perform under current or proposed arrangements with us, and stress on our supply chain; risks associated with our emergence from the Chapter 11 Cases, including, but not limited to, the continuing effects of the Chapter 11 Cases on us and our relationships with our suppliers, customers, service providers or employees and changes in the composition of our board of directors and senior management; volatility in the trading price of our common stock, which has a limited trading history; substantial market overhang from the common stock issued in the Chapter 11 reorganization; 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 U.S. Securities and Exchange Commission, including our most recent reports on Form 10-K and Form 10-Q. 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.Non-GAAP Financial MeasuresCertain financial measures included herein, including Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Operating Expenses and Operating Free Cash Flow, are not made in accordance with U.S. GAAP, and use of such terms varies from others in the same industry. Non-GAAP financial measures should not be considered as alternatives to net income (loss), net income margin or any other performance measures derived in accordance with U.S. GAAP as measures of operating performance or cash flows as measures of liquidity. Non-GAAP financial measures have important limitations as analytical tools, and you should not consider them in isolation or as substitutes for results as reported under U.S. GAAP. This presentation includes a reconciliation of certain non-GAAP financial measures to the most directly comparable financial measures calculated in accordance with U.S. GAAP. Projected GAAP financial measures and reconciliations of projected non-GAAP financial measures are not provided herein because such GAAP financial measures are not available on a forward-looking basis and such reconciliations could not be derived without unreasonable effort.This presentation uses the term “Implied Enterprise Value”, “Implied EV” and other similar terms, which is calculated using a trend line implied by our peers and certain assumed levels of broadband penetration. This term does not necessarily represent our actual enterprise value. Note Regarding Classifications of ResultsUnless otherwise indicated, the information presented herein, including operational, non-GAAP measures, and commentary pertain to the Remaining Properties only. “Remaining Properties,” as defined in Frontier’s 10-K for the year ended December 31, 2020, comprises the 25 states Frontier currently operates in and excludes Washington, Oregon, Idaho, and Montana due to the divestiture of operations and assets in these states effective May 1, 2020. “Consolidated” refers to the entire business, which may include financial data from Washington, Oregon, Idaho, and Montana for the periods through May 1, 2020. References to “Northwest Ops” refer to the metrics of the four Northwest states. Forward looking language

Today’spresenters… Scott BeasleyChief FinancialOfficer Veronica BloodworthChief Network Officer John StrattonExecutive Chairmanof the Board Nick JefferyChief ExecutiveOfficer

Today’sAgenda Company overview & FY 21 momentum Strategic review

5 © Frontier Communications. Company overview & FY 21 momentum 01 • • • • • • •

Frontier today: company overview Key operational & financial metrics Note: All metrics shown are adjusted for the sale of Northwest Operations. Adjusted EBITDA and Adjusted EBITDA margins are non-GAAP measures. See Appendix slides for reconciliations to the closest GAAP measure.Including consumer and business broadband subscribers Frontier footprint $6.7BLTM Revenue as ofQ2 ‘21 2.8MBroadband Customers1 $2.7BLTM Adj. EBITDA as ofQ2 ‘21 $1.1BLTM EBITDA from Fiber as of Q2 ‘21 23kTowers within 1 mile of Frontier fiber 400kBusinesses within 250 feet of Frontier fiber

Our new board brings extensive experience across key disciplines Operations Talent Technology Telcom Industry Finance Legal & Regulatory John Stratton,Chairman Former EVP, President of Verizon Global Operations Kevin Beebe Co-Founder, Astra Capital ManagementFormer Group President of Operations, ALLTEL Corp. Nick Jeffery, CEO Former CEO of Vodafone UK Lisa Chang Chief People Officer, Coca-Cola Company Pamela Coe Former Deputy General Counsel and Corporate Secretary of Liberty Media Corporation Pratabkumar “Prat” Vemana Chief Digital Officer, Kaiser Foundation Health Plans and Hospitals (Kaiser Permanente) Stephen Pusey Former Global Chief Technology Officer, Vodafone Group PLC Margaret “Peggy” Smyth Former CFO, National Grid USA Maryann Turcke Former Chief Operating Officer, National Football League

Management Team with strong track record of creating shareholder value and leading turnarounds Nick JeffreyChief Executive OfficerFormer CEO of Vodafone UK Scott BeasleyChief Financial OfficerFormer CFO of Arcosa Veronica BloodworthChief Network OfficerFormer SVP of Construction and Engineering for AT&T John HarrobinEVP of ConsumerFormer CMO of Audible& Verizon Mark NielsenChief Legal Officer+30 years legal & governmental experience Alan GardnerChief People OfficerFormer SVP of Human Resources for Verizon Wireless Mike ShippeyEVP of Business & Wholesale Former President of Wholesale for Windstream Holdings Erin KurtzChief Communications OfficerFormer SVP of Communications for XPO Logistics

Commitment to ESG Fiber network uses less energy than broadband alternativesFrontier Green Initiatives to decrease energy consumption & reduce wasteFirst electric vehicle purchases in 2021 to reduce GHG footprintMeet or exceed federal, state & local laws & regulations governing greenhouse gas emissions, hazardous materials & pollutants Diverse board representation“Pay for Performance” compensation philosophySeparate Chairman & CEO roleBoard level oversight of human capital & ESG mattersComprehensive compliance & ethics programs Connect underserved communities in rural areas across 25 states to bridge the “digital divide” Participate in FCC CAF & RDOF programsProducts enable online work and education Robust environmental, health and safety compliance programsContribution to community engagement programs where we live and workTalent development, performance & retention programs We are stewards of the environment We are committed to the highest principles of governance Our products connect people to the Digital Society We develop a talented, diverse, sustainable workforce Our Planet Our Governance Our Products Our People

New culture of performance accountability 1. Excludes one-time bankruptcy emergence grants in 2021 | 2. PBRSU: Performance-Based Restricted Stock Unit | 3. AIP: Annual Incentive Plan | 4. TBRSU: Time Based Restricted Stock Units PBRSU2 Base AIP3 TBRSU4 At risk Long Term Incentive Plan (MIP) Award Type Performance Objectives Annual Incentive Plan (AIP) Adjusted EBITDARevenueFiber Passings ConstructedNet Fiber Broadband Adds Fiber EBITDAFiber Passings ConstructedFiber PenetrationTotal Shareholder Return Share Price Focus 1 year operational and financial targets Long term shareholder value creation Cash Equity: Performance-Based Restricted Stock Units Equity: Time-Based Restricted Stock Units Annual Target CEO Pay1: 85% at Risk

How What The Frontier Way Get it done together Create the Future Earn Customer Loyalty Do what we say we will do Why Digital Society Inclusion for all Environment Fiber deployment Customer experience Penetration Operational efficiency Revenue Growth + Cost Leadership Radical Simplification + Reset Culture Clear purpose Building Gigabit America

Q2 2021: Financial Highlights $1.62B Revenue, including roughly flat sequential data revenue but lower voice revenue $298M Operating Income, up sequentially from Q1 2021 $633M of Adjusted EBITDA, down sequentially as Fiber growth was offset by Copper decline $278M of Adjusted EBITDA from Fiber, up sequentially on higher Consumer Fiber performance Note: Adjusted EBITDA and Operating Free Cash Flows are non-GAAP measures. See Appendix for reconciliations to closest GAAP measures.

Q2 2021: Key operating metrics 157k fiber passings constructed during the quarter, up 51% from Q1’s pace 12k fiber net adds, marking 8th consecutive quarter of positive consumer fiber net adds 1.5% consumer fiber churn, continuing the trend of improvement vs. 2020 performance $63.10 ARPU for consumer fiber, as consumers continue to upgrade speeds

Accelerated build to 600,000+ locations in FY 21 End of 2020 260 Completed 1H 2021 Builds 340 Planned 2H 2021 Builds Wave 1: Projected End of 2021 3,300 ~4,000 2021 Fiber build plan (‘000s homes) Key drivers of 2021 build acceleration Strengthened executive team with industry leaders Developed partnerships with fiber build partners Refined processes to accelerate build decision-making and eliminate silos 600K+ builds to be completed in FY21, up from 495K in previous plan

Updating capex and fiber build guidance, driven by fiber acceleration in 2021 Note: Projected GAAP financial measures and reconciliations of projected non-GAAP financial measures are not provided herein because such GAAP financial measures are not available on a forward-looking basis and such reconciliations could not be derived without unreasonable effort. Adjusted EBITDA is a non-GAAP Financial measure. See Appendix for a reconciliation to the closest GAAP measure. 2020A Initial 2021E Adjusted EBITDA $2.77B1 $2.40 - 2.50B $2.40 - 2.50B Capital Expenditures $1.2B ~$1.5B ~$1.8B Fiber Build 60,000 495,000 600,000 Revised 2021E

16 © Frontier Communications. Strategic review 02 • • • • • • •

Major announcements in today’s presentation 10M+ locations passed with fiber Best in class consumer offering today by the end of 2025 for all digital needs Launching 2Gbps in 1Q 2022 to unlock next-gen digital experiences Targeting $250M run rate savings by FY 2023 from simplifying operations & improving customer experience Symmetrical 1 Gbps Symmetrical 2 Gbps

Strategy focused on 4 levers of value creation Customer ExperienceDeliver an exceptional endto end customer journey Fiber DeploymentAccelerate our fiber build Operational efficiencySimplify and digitize operations PenetrationWin customers in our fiber footprint BuildingGigabitAmerica

Demand for high-speed broadband growing rapidly 1. Combines North America Mobile Network Traffic & Consumer Internet Traffic, Credit Suisse Report 2021 | 2. eMarketer, NSR | 3. Bell Labs Projection | 4. Uplink / Downlink ratio is projected to double by 2025 (1:5 in 2025 vs. 1:10 in 2020) Demand expected to grow exponentially 2020A 2025E 23%CAGR US Data Usage per HH1 (GB/Mo) By 2025… +3X devices/ HH3 +3X video consumption1 8hrs+ spent online / person2 5Xuplink data demand / HH4 Frontier’s uplink internet traffic has grown more since beginning of the pandemic than in the prior 5 years combined

Fiber is the best product to meet this demand Faster download speed Faster upload speed Lower latency levels Source: FCC Fiber is superior to cable today Fiber will maintain superiority in the future 25+ year replacement timeline Clear path to 10 Gbps service, at lower capital intensity and lowest cost of delivery given passive infrastructure 10 Gbps Symmetrical download/upload speed, faster than cable and other emerging wireless technologies, while also delivering the lowest latency 42% 34% 17.6x

22 Our incumbent position provides significant speed and cost advantages in building new fiber Overlash aerial copper lines ~$30 benefit per locationOwned long haul transport~$10 benefit per locationUtilize existing fiber; only replace existing distribution legacy copper~$30 benefit per locationExisting conduit capacity~$40 benefit per location Faster build pace and a ~20% cost advantage Note: Dollar and percent savings calculated off initial pilot; dollar cost savings are expected to scale up with more expensive build costs

23 © Frontier Communications. We have a structurally advantaged footprint… 88% of markets have only 1 or no competitors • • • • • • •

…and our footprint is weighted towards attractive states with positive demographic trends 1.US census 2010 to 2020 population gain by number of people by state NV UT AZ NM NE MN IA IL WI MI IN OH WV PA NY CT NC TN MS AL GA SC California3rdhighest state population gain since 20101 Texas1sthighest population gain since 20101 Florida2ndhighest state population gain since 20101 Frontier footprint

Announcing today 25 © Frontier Communications. 10M+ total fiber passings by end of 2025 Total end of 2025 10M+ FY25 Fiber Passings WAVE 2 Announcing today ~6M Fiber builds in next four years WAVE 1Total end of FY2021 ~4M FY21 Fiber Passings

We plan to build rapidly to maintain our first-mover advantage 1.0+ 2024P 2020 2022P 2021P 2023P 2025P 0.6+ 1.6+ 1.7+ 1.7+ Planned Expansion Fiber Passings1, M passings Expected build cost per passing:Wave 1: $500-600Wave 2: ~$900-10002Wave 2 build sequencing balances cost, speed, and efficiency; we are focused on maximizing value from the full build We are accelerating market expansion & time to revenueCost per passing in a quarter or year will vary based on population density and terrain Wave 2: 6M fiber passings from 2022-2025 Rapid acceleration as we become more efficient 1. Consumer and business locations with less than 5 units per location included in expansion passings plan.2. Average projected cost for FY 22 through FY 25 End of Wave 1: 4M fiber passings by end of 20201

27 Foundation for scaled build in place Materials Permitting Labor

Funding the Wave 2 fiber build plan Our build plans are fully funded through early 2023 with cashand accessible debtcapacity Wave 3 provides strategic optionality Committed to disciplined balance sheet management, not exceeding “midthrees” net leverage Access to multiple sources of capital for FY23 and beyond

We have ~$1.5B of liquidity to help fund build plans… ~$1.5B current liquidity Significant liquidity including:~$1B cash balance as of 06/30/21$535M available capacity in revolving credit facility ~2.2x net leverage at emergence, lowest among peer group Committed to disciplined balance sheet management; not exceeding “mid-threes” net leverage, consistent with our fiber peers

…and no debt maturities earlier than 2027 $625M RevolvingCredit Facility Maturity profile 1. Excludes amortization payments of ~$16 million per year on Term Loan and Rural Utilities loans Maturity Profile as of June 30, 20211, $M 2031 2021-24 2028 2026 2025 2027 2029 2030

We plan to have 10M+ fiber passings by end of 2025; Wave 3 also has significant potential Passings at end of 2025, M Wave 3: Remaining copperat end of 2025 5M 6M 15M Wave 2: Fiber build plan 2022 – 2025 4M Wave 1: Fiber at the end of 2021 Government funding to bridge ‘digital divide’ Legislation Passed $3.2B: Emergency Broadband Benefit Program (EBBP)$7.2B: Emergency Connectivity Fund / E-Rate Program$10B: American Rescue Plan – Capital Projects Fund$350B: American Rescue Plan – State and Local Fiscal Recovery Fund ~$370B $65B: Bipartisan Infrastructure Framework includes funding for last mile deployments and accessibility funding ~$65B Legislation proposed

Wave 3 provides strategic optionality Upgrade to fiber Optimize & Hold Strategic Options

Fiber deployment key takeaways High speed internet even more critical with growing demand Our build plans are fully funded through early 2023; additional upside from government programs Fiber is the best product to meet the increasing demand Today announcing an incremental build of 6M+ fiber passings by end of 2025 Incumbent position creates significant advantages in building fiber

We are going to speeds where only fiber can compete Symmetrical upload/download speeds Our core network is already 10Gbpsready Today500 Mbps - 1 Gbps 1Q 20222 Gbps Later5 - 10 Gbps Work from home Gaming AR/VR AR/VR Telehealth 8K content Competitive Best in class

Frontier is doing what cable can’t With upload speeds 25x faster than cable.

Announcing today: Best in market consumer offering Announcing todayBest in market consumer offering $54.99 500Mbps 1Gbps1 $79.99 Fastest entry speedsSpeeds starting at 500 Mbps Top performance Symmetrical speeds of upto 1Gbps Compelling value No Activation Fee. No Hidden Fees. Everyday Low Price 1 Gbps 1. Max wired speeds of 940/880, actual speeds may vary Stream with high resolution video quality Multiple users or large families simultaneously Telecommute and video conference with confidence Powering all your users, devices and online activities with no compromises Symmetrical speeds up to 500Mbps Symmetrical speeds up to 1 Gbps Game with ultimate performance Our fastest speed available

Offer strengthened with introduction of Next Day Install Your scheduled appointment is on August 6, at 5pm. Ok.Thank you :) Service overviewScaled to all fiber markets in June 2021Provides customers with ability to choose next dayor preferred install day, including Saturdays ~5%increase in close rates ~15%reductionin cancellations between order and installation 40%+adoption rate1 1. Adoption rate of when offered

We also have a major opportunity in B2B and we are newly focused on Small/Medium businesses SOURCE: D&B, IDC, FCC, Frontier budget, 2020, Frontier customer data with monthly spend Frontier’s addressable B2B market (within footprint) $8.6B Small(1 – 100) Medium(100 – 1,000) Large(1,000+) Total Market size, 2020, $ Billions Category(# of employees) Increasing focus on SMB and lower complexity enterprises Offering the most relevant Value Added Services (VAS) bundles for SMB categoryStrong emphasis on inside sales and digital for SMB go-to-market

We are bringing the same unmatched performance to businesses Launching best in class speeds of up to 2Gbps, eventually reaching 10Gbps Including: expanded VoIP and UCaaS solutions, business identity theft protection & LTE back-up Same unmatched performance New portfolio of services +2 Gbps

… and our full suite of business service products 2022 2H, 2021 Today Managed Workstation / Server Security PackageCloud Storage and BackupMy Premium Tech ProFrontier Texting Multi-Device Security ProGateway SecurityBusiness Identity Theft ProtectionOnline Marketing BundleOffice ProductivityDesktop-as-a-Service (DaaS)Expanded VoIP and UCaaS solutionsMesh wi-fi Managed Wi-FiWi-fi customer marketing & analytics serviceLTE backup

Renewed focus to create deeper customer relationships Channel of choiceMeet the customer where they want, whether that’s on the call, over chat, or via app Proactive issue resolutionStopping problems and addressing pain points before they start Personalized engagementDifferentiated service and freedom to choose how to engage (e.g., self-service) Clear value propositionEasy to understand products, transparent pricing & billing, excellent level of care

New customer-centric initiatives in flight Simplified & dynamic route optimizationCustomer based routing (e.g., Personalized service from a live agent) IVR optimization & simplification Self-serve capabilities AI assisted & agent assisted web & app chat New digital customer channels Optimize customer outreach touchpointsProvide more transparent & clear communications Improve customer communications Easy to understand billinge-billing migrationPayment option flexibility (e.g., 1 Click, Express Pay) Updated billing & payment flows $

4 core guiding principles for simplification of our operations Focus on value levers, de-prioritize everything else Eliminate inefficiencies, simplifying processes and operations Guiding Principles Reduce organizational complexity to accelerate decision making Embed simplification in our DNA, promoting ownership across all levels of the organization “Frontier 20” Increase energy efficiency by switching to LED lighting ($5M/yr) Campaign to solicit suggestions from all employees1,000+ associates participated2,500+ simplification ideas submitted Consolidate non-utilized equipment, saving space and electricity ($10M/yr) Right-size landscaping services at 3,000+ facilities ($1M/yr)

Simplification decisions already in flight Not reflective of consumer high speed broadband buying behavior Closeretail stores Consolidate 30+ excess locations (>1M sq.ft.) to reduce operating expenses and redeploy cash Divest non-productive real estate Reviewing ancillary businesses with low margin or non-recurring revenues Review strategic options on ancillary, non-core businesses

Impact of simplification initiatives 2021 $25M 2022 $100M 2023 $250M Gross run-rate savings Additional $150M+ one-time cash benefits from divesting non-core assets

New team building a culture of trust with our investors, analysts and other stakeholders Enhanced Investor Reporting package to track progress of value drivers Active shareholder engagement schedule Transparency Accessibility

Fiber penetration,% of passings Investor Reporting Package 1. Penetration includes Consumer and Business passings of < 5 units Cumulative Passings in 2020 Expansion Cohort @ 12 months1 9k 17k What we’ll report Overall Fiber NetworkPenetrationARPURevenueEBITDABase Fiber NetworkPenetrationExpansion Fiber NetworkPenetration of each cohort as passings reach the 12- and 24-month markFor example, through Q2 2021, our Expanded Fiber passings achieved 30% penetration on passings at the 12-month mark Q3-2020 Q4-2020 Q2-2021 Q1-2021 2020 Expansion Cohort @ 12 months Base Fiber Network

Recap: Major announcements in today’s presentation 10M+ locations passed with fiber Best in class consumer offering today by the end of 2025 for all digital needs Launching 2Gbps in 1Q 2022 to unlock next-gen digital experiences Targeting $250M run rate savings by FY 2023 from simplifying operations & improving customer experience Symmetrical 1 Gbps Symmetrical 2 Gbps

We are building a long-term winner with significant competitive advantages… 10M+ Fiber passings 4.5M+ Fiber customers Mid-to-High 40s EBITDA margin Wave 2 Steady state $4B+ Adjusted EBITDA Late 2022Anticipated inflection point of return to sequential EBITDA growth 20236.6M+ Fiber Passings by endof year as peak build years commence 2025Wave 2 fiber build complete 2026Free Cash Flow positive as Wave 2 concludes and FCF accelerates Projected Milestones through 2026

…and our Wave 2 plan would create significant value for stakeholders 1. Benchmarks calculated using publicly available data for ISPs as of March 2021 $3,000-$4,000 /Fiber passing $300 - $600+ /Copper passing Fiber EV / passing benchmarks1 4M 11M 10M+ 5M End of 2021 2025+ $16-20B $32-43B+ Implied Enterprise Value Implied Enterprise Value Fiber passings Copper passings Range would represent an ~8-11X EBITDA multiple of Wave 2 Steady State

Frontier Investment Thesis Favorable market structure Strong & growing demand Clear strategy & purpose Ample liquidity & access to capital Strong & experienced leadership team Superior product

Operating metrics (Millions unless otherwise noted) Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Consolidated Passings Base Fiber Network 3.2 3.2 3.2 3.2 3.2 3.2 Cumulative 2020 Fiber Builds1 0 0 0 0.1 0.1 0.1 Cumulative 2021 Fiber Builds1 - - - - 0.1 0.3 Total Fiber 3.2 3.2 3.3 3.3 3.4 3.6 Total Copper 11.9 11.9 11.9 11.9 11.8 11.7 Total Passings 15.1 15.1 15.2 15.2 15.2 15.3 Note: Estimated passings. Total includes both Consumer and Business locations. Due to changes in methodology during the second quarter of 2021, historical periods have been updated to reflect the comparable amounts. Certain figures may not tie to Q2 2021 earnings press release due to rounding. 1. Excludes CAF-related builds. 2. Excludes wholesale.3. Includes customers in locations that have been passed with fiber for more than twelve months. 2020 fiber builds shown at the twelve-month mark after being passed with fiber. Broadband Customers (thousands)2 Fiber 1,310 1,316 1,323 1,333 1,346 1,358 Copper 1,588 1,565 1,538 1,501 1,474 1,440 Total 2,898 2,881 2,861 2,834 2,820 2,798 Penetration Total Fiber 40.6% 40.7% 40.8% 40.3% 39.5% 38.1% Total Copper 13.6% 13.4% 13.1% 12.8% 12.7% 12.5% Total 19.4% 19.2% 19.1% 18.8% 18.7% 18.5% Fiber Penetration by Cohort3 Base Fiber 40.7% 40.8% 41.0% 41.2% 41.3% 41.2% Cumulative 2020 Fiber Builds1 - - - - 28.7% 29.6%

Operating metrics, continued (Thousands) Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Consumer KPIs1 Customer accounts 3,374 3,342 3,306 3,264 3,235 3,196 Net adds (39) (32) (36) (42) (30) (38) BB net adds (13) (10) (14) (23) (9) (18) Account churn 1.84% 1.63% 1.81% 1.67% 1.45% 1.54% ARPC $88.42 $87.22 $86.75 $87.57 $87.16 $85.65 Fiber Broadband (BB) KPIs1 Consumer Customers 1,215 1,223 1,229 1,238 1,251 1,263 Business Customers2 94 93 94 95 95 95 Consumer: BB Net adds 10 8 6 9 13 12 BB Churn 1.94% 1.52% 1.80% 1.56% 1.41% 1.53% BB ARPU $56.80 $56.92 $57.58 $59.72 $60.73 $63.10 Copper Broadband (BB) KPIs1 Consumer Customers 1,419 1,401 1,381 1,349 1,327 1,297 Business Customers2 170 164 157 152 147 143 Consumer: BB Net adds (23) (18) (20) (32) (22) (30) BB Churn 2.36% 2.03% 2.11% 1.96% 1.62% 1.67% BB ARPU $41.15 $41.93 $42.16 $42.61 $43.23 $44.80 Note: Operating metrics for the operations located in the remaining 25 states after excluding the Northwest Operations. Certain figures may not tie to Q2 2021 earnings press release due to rounding.1. Due to changes in methodology during the second quarter of 2021, historical periods have been updated to reflect the comparable amounts.2. Excludes wholesale.

Quarterly Revenue and EBITDA (Millions) Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Revenue Consumer Fiber $432 $419 $411 $418 $411 $413 Business and Wholesale Fiber 292 291 278 272 267 267 Total Fiber 724 710 689 689 678 680 Total Copper 937 910 889 867 857 834 Regulatory, USF, TSA 128 133 149 139 140 103 Total Revenue $1,788 $1,754 $1,726 $1,695 $1,676 $1,616 Adjusted EBITDA Fiber $271 $289 $269 $283 $275 $278 Copper 333 319 322 319 311 272 Regulatory, USF, TSA 82 94 99 91 84 83 Total Adjusted EBITDA $686 $703 $690 $693 $670 $633 Data includes broadband and Non-switched Circuits/Note: Adjusted EBITDA and Operating Free Cash Flows are non-GAAP measures. See later Appendix for reconciliations to closest GAAP measures. Net income of $4.5B during Q2 due to ~$4.2B of reorganization items. Certain figures may not tie to Q2 2021 earnings press release due to rounding.

Non-GAAP Financial Measures - Consolidated (Millions) Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Net Income (Loss) (186) (181) 15 (50) 60 4,580 Add back (Subtract): Income Tax Expense (Benefit) (23) (57) (11) 7 87 (180) Interest Expense 383 160 121 98 89 91 Investment and Other (Income) Loss, Net (5) 20 14 14 (2) 3 Pension Settlement Costs 103 56 - - - - Loss on Extinguishment of Debt - - - 72 - - Reorganization Items, Net - 142 131 136 25 (4,196) Operating Income (Loss) 272 140 270 277 259 298 Depreciation and Amortization 415 397 392 394 387 298 EBITDA $687 $537 $662 $671 $646 $596 Add back: Pension/OPEB Expense 23 23 24 20 23 21 Restructuring Costs and Other Charges 48 36 3 - 2 16 Stock-based Compensation Expense 1 1 1 - (1) - Storm Related Insurance Proceeds - (1) - - - - Loss on disposal of Northwest Operations 24 136 - 2 - - Adjusted EBITDA $783 $732 $690 $693 $670 $633 EBITDA Margin 35.6% 29.8% 38.4% 39.6% 38.5% 36.9% Adjusted EBITDA Margin 40.5% 40.6% 40.0% 40.9% 40.0% 39.2% Note: Certain figures may not tie to Q2 2021 earnings press release due to rounding.

Non-GAAP Financial Measures – Remaining Properties (Millions) Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Net Income (Loss) (283) (210) 15 (50) 60 4,580 Add back (Subtract): Income Tax Expense (Benefit) (23) (57) (11) 7 87 (180) Interest Expense 383 160 121 98 89 91 Investment and Other (Income) Loss, Net (5) 20 14 14 (2) 3 Pension Settlement Costs 103 56 - - - - Loss on Extinguishment of Debt - - - 72 - - Reorganization Items, Net - 142 131 136 25 (4,196) Operating Income (Loss) 175 111 270 277 259 298 Depreciation and Amortization 415 397 392 394 387 298 EBITDA $590 $508 $662 $671 $646 $596 Add back: Pension/OPEB Expense 23 23 24 20 23 21 Restructuring Costs and Other Charges 48 36 3 - 2 16 Stock-based Compensation Expense 1 1 1 - (1) - Storm Related Insurance Proceeds - (1) - - - - Loss on disposal of Northwest Operations 24 136 - 2 - - Adjusted EBITDA $686 $703 $690 $693 $670 $633 EBITDA Margin 33.0% 29.0% 38.4% 39.6% 38.5% 36.9% Adjusted EBITDA Margin 38.4% 40.1% 40.0% 40.9% 40.0% 39.2% Note: Certain figures may not tie to Q2 2021 earnings press release due to rounding.

Free Cash Flow – Consolidated Quarterly Results (Millions) Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Adjusted EBITDA $783 $732 $690 $693 $670 $633 Pension/OPEB (23) (23) (24) (20) (23) (21) Cash Interest (163) (264) (121) (64) (40) (128) Cash Taxes (1) 0 (5) (2) 0 (33) Other1 (71) 121 136 18 85 (103) Reorganization Items 0 (57) (131) (128) (25) (1,271) Restructuring Costs (48) (36) (3) 0 (2) (16) Net Cash from Operating Activities 477 473 542 497 665 (939) Capital Expenditures (286) (225) (314) (356) (384) (385) Operating Free Cash Flow $191 $248 $228 $141 $281 ($1,324) Adjusted Operating Free Cash Flow2 $239 $341 $362 $269 $308 ($37) Total Non-CAF Build Capital Expenditures3 ($8) ($11) ($25) ($58) ($101) ($130) Note: Periods prior to Q3 2020 include the Northwest Operations. Certain figures may not tie to Q2 2021 earnings press release due to rounding.1. Consists of changes in working capital.2. Adjusted for reorganization items and restructuring costs.3. Represents capital expenditures related to fiber expansion, new subdivisions, and new multi-dwelling units.