Charter spent $2.2 billion on its subsidized rural construction initiative during the year ended December 31, 2024 and activated approximately 393,000 subsidized rural passings. The initiative aims to expand the network to offer broadband connectivity services to over 1.7 million passings in unserved areas.

Charter continues to expand the capacity of its hybrid fiber coaxial network using technologies including spectrum expansion to 1.2 GHz and DAA to deliver multi-gig speed capabilities. The company is now offering symmetrical speeds in all of its step 1 high split markets.

On November 12, 2024, Charter and Liberty Broadband entered into an agreement for Charter to acquire Liberty Broadband. The companies currently expect the transaction to close on June 30, 2027, subject to the completion of the GCI spin-off and other customary closing conditions.

Charter lost 508,000 Internet customers during 2024, attributing the losses to the end of the FCC's Affordable Connectivity Program (ACP), lower customer move rates, and the competitive environment. Retention programs for affected customers have been successful in retaining the vast majority.

Charter added 2,117,000 mobile lines during 2024, benefiting from its pricing and packaging strategy, including the Anytime Upgrade offering and Phone Balance Buyout program. Internet and mobile product bundles, including Spectrum One, provide a differentiated connectivity experience.

In September 2024, Spectrum launched new customer commitments focused on reliable connectivity, transparency, exceptional service and a focus on always improving. The new brand platform, Life Unlimited, emphasizes the power of Spectrum's advanced network and cutting-edge connectivity products and services.

The industry in which Charter operates is highly competitive and has become more so in recent years. Charter competes against companies with fewer regulatory burdens, access to better financing and greater and more favorable brand name recognition.

Network and information systems technologies are critical to Charter's operating activities, and network or information system shutdowns or other service disruptions caused by events such as computer hacking and cyber attacks pose increasing risks.

Charter depends on a limited number of third-party service providers, suppliers and licensors to supply some of the services, hardware, software and operational support necessary to provide some of its services and execute its network evolution and rural construction initiatives.

Charter's residential Internet service faces competition across its footprint from fiber-to-the-home (FTTH), fixed wireless broadband, Internet delivered via satellite and DSL services.

Charter's residential video service faces growing competition across its footprint from a number of other sources, including companies that deliver linear network programming, movies and television shows on demand and other video content over broadband Internet connections.

Charter's mobile service faces competition from national mobile network operators including AT&T, Verizon and T-Mobile, as well as a variety of regional operators and mobile virtual network operators.

In 2024, Charter's in-house field operations workforce handled approximately 85% of its customer premise service transactions, which the company believes drives consistent and higher quality services.

Charter manages its customer service call centers centrally to ensure a consistent, high-quality customer experience. In addition, calls are routed by call type to specific agents that only handle such call types, enabling agents to become experts in addressing specific customer needs.

Service from Charter's call centers continues to become more efficient as a result of new tool enhancements that give front-line customer service agents more context and real-time information about the customer and their services which allows them to more effectively troubleshoot and resolve issues.

Through its network evolution initiative, Charter is currently expanding its spectrum to 1.2 Ghz through a module upgrade in the hub, node and amplifier and using high splits and DAA to deliver multi-gig speed capabilities while using the current DOCSIS 3.1 customer premise equipment.

Charter plans to complement its wireline investments with planned WiFi upgrades for in-home routers. With nearly 500 million devices connected wirelessly to its network in its customers' homes and businesses, the company is unlocking its network investments for multi-gigabit speeds through the deployment of WiFi 7 routers that it launched in late 2024.

Charter owns 210 Citizen Broadband Radio Service (“CBRS”) Priority Access Licenses (“PALs”). It intends to use these licenses along with unlicensed CBRS spectrum to build its own 5G data-only mobile network on targeted 5G small cell sites leveraging its HFC network to provide power and data connectivity to the majority of the sites.

Charter currently expects full year 2025 capital expenditures to total approximately $12 billion, including line extensions of approximately $4.2 billion and network evolution spend of approximately $1.5 billion.

Excluding purchases from Liberty Broadband discussed below, during the years ended December 31, 2024 and 2023, Charter purchased in the public market approximately 2.7 million and 6.9 million shares, respectively, of Charter Class A common stock for approximately $822 million and $2.7 billion, respectively.

Charter's target leverage of net debt to the last twelve months Adjusted EBITDA remains at 4 to 4.5 times Adjusted EBITDA, and up to 3.5 times Adjusted EBITDA at the Charter Operating first lien level. Charter's leverage ratio was 4.13 times Adjusted EBITDA as of December 31, 2024.

Charter's commitment to diversity and inclusion is based on its objective to reflect the markets, communities, and customers it serves, enabling it to deliver high-quality products and services that exceed its customers' expectations, as well as foster an inclusive environment where all employees can thrive and have a long-term career with the company.

Charter has five Business Resource Groups (“BRGs”) focused on people with disabilities, the LGBTQ community, employees with multicultural backgrounds, veterans and women. Open to all employees, these voluntary groups enable employees to engage in activities that support our culture of inclusion and contribute to business success.

Charter's efforts are guided by an external advisory council and an internal steering committee, with annual reporting to the Board of Directors.

Cable systems and related communications networks and services are extensively regulated by the federal government (primarily the FCC), certain state governments and many local governments. A failure to comply with these regulations could subject Charter to substantial penalties.

The FCC regulates spectrum usage in ways that could impact Charter's operations including for microwave backhaul, broadcast, unlicensed WiFi and CBRS. Charter's ability to access and use spectrum that may become available in the future is uncertain and may be limited by further FCC auction or allocation decisions.

Charter's awards through RDOF and ARPA include a number of regulatory requirements, such as serving as the carrier of last resort and completing increasingly larger portions of the network construction by certain dates. If Charter fails to meet these obligations, it could be subject to substantial government penalties.