Company: LBRDK
Filing Date: 2025-02-19
Form Type: 425
Source: 0001104659-25-015203
Chunk: 13

Company: Liberty Broadband Corp
Filing Date: 2025-02-19
Form: 425
Chunk 13
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7 |
| Total Corporate Overhead Expenses  |     |     2.0 |     |    22.4 |     |    25.3 |     |    12.9 |
| Corporate Stock-Based Compensation |     |     3.5 |     |    14.0 |     |    14.0 |     |     7.0 |

Certain Information Relating to GCI

| ($ in millions)                   |     |       |
| 2024E Pro Forma Adjusted OIBDA(1) |     |   380 |
| GCI Net Indebtedness              |     | 1,063 |
| GCI Tax Basis                     |     |  -193 |

(1) Adjusted OIBDA is defined as operating income plus depreciation
and amortization, stock-based compensation, transaction costs, separately reported litigation settlements, restructuring and impairment
charges. 2024E Pro Forma Adjusted OIBDA as shown in the table above is based on the $387 million estimate provided by Liberty Broadband
management, including the impact of certain midyear up-sales, and other adjustments made by Charter management.

Cautionary Note Regarding Forward Looking Statements

This communication includes forward-looking statements within the meaning
of Section 27A of the Securities Act and Section 21E of the Exchange Act, regarding, among other things, the proposed transaction
between Liberty Broadband and Charter. Although we believe that our plans, intentions and expectations as reflected in or suggested by
these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions or expectations.
Forward-looking statements are inherently subject to risks, uncertainties and assumptions including, without limitation: (i) the
effect of the announcement of the proposed transaction on the ability of Liberty Broadband and Charter to operate their respective businesses
and retain and hire key personnel and to maintain favorable business relationships; (ii) the timing of the proposed transaction;
(iii) the ability to satisfy closing conditions to the completion of the proposed transaction (including stockholder and regulatory
approvals); (iv) the possibility that the transactions may be more expensive to complete than anticipated, including as a result
of unexpected factors or events; (v) the ability of Liberty Broadband to consummate the spin-off of its GCI business; (vi) litigation
relating to the proposed transaction; (vii) other risks related to the completion of the proposed transaction and actions related
ther