CROWN CASTLE INC.

Previous wording

We own, operate and lease approximately 40,000 towers and other structures, such as rooftops (collectively, "towers") that are geographically dispersed throughout the U.S. The customers on our towers are referred to herein as "tenants." We provide access, including space or capacity, to our towers via long-term contracts in various forms, including lease, license, sublease and service agreements (collectively, "tenant contracts"). Site rental revenues represented 96% of our second quarter 2026 consolidated net revenues. The vast majority of our site rental revenues are of a recurring nature and are derived from long-term tenant contracts. Our towers have a significant presence in each of the top 100 basic trading areas.

Current wording

We own, operate and lease approximately 40,000 towers, including the associated land underneath, and other structures, such as rooftops (collectively, "towers") that are geographically dispersed throughout the U.S. The customers on our towers are referred to herein as "tenants." We provide access, including space or capacity, to our towers via long-term contracts in various forms, including lease, license, sublease and service agreements (collectively, "tenant contracts"). Site rental revenues represented 97% of our third quarter 2026 consolidated net revenues. The vast majority of our site rental revenues are of a recurring nature and are derived from long-term tenant contracts. Our towers have a significant presence in each of the top 100 basic trading areas.

Previous wording

As the Strategic Fiber Transaction represents a material strategic shift, the Fiber Business' results and net assets are presented herein as discontinued operations for all periods presented until the completion on May 1, 2026. Related to the classification of the Fiber Business as "held for sale," during the three and six months ended June 30, 2026, we recognized a loss from disposal of discontinued operations of $280 million and $625 million, respectively, which primarily reflected additional investment in the Fiber Business until the closing date and the impact of preliminary purchase price adjustments, which are subject to a post-closing settlement process. During the three and six months ended June 30, 2025, we recognized a loss from disposal of discontinued operations of $252 million and $1,082 million, respectively. Through the completion of the Strategic Fiber Transaction on May 1, 2026, we continued to operate the Fiber Business in accordance with the Strategic Fiber Agreement.

Current wording

As the Strategic Fiber Transaction represents a material strategic shift, the Fiber Business' results and net assets are presented herein as discontinued operations for all periods presented until the completion on May 1, 2026. Related to the classification of the Fiber Business as "held for sale," the Company recorded no loss from disposal of discontinued operations for the three months ended September 30, 2026, and a loss of $625 million for the nine months ended September 30, 2026, which primarily reflected additional investment in the Fiber Business until the closing date and the impact of preliminary purchase price adjustments, which are subject to a post-closing settlement process. During the three and nine months ended September 30, 2025, we recognized a loss from disposal of discontinued operations of $231 million and $1.3 billion, respectively. Through the completion of the Strategic Fiber Transaction on May 1, 2026, we continued to operate the Fiber Business in accordance with the Strategic Fiber Agreement.

Previous wording

◦We had discretionary capital expenditures of $102 million for the six months ended June 30, 2026. The capital expenditures predominately related to improvements to existing towers to support additional tenants and purchases of land underneath our towers.

Current wording

◦We had discretionary capital expenditures of $160 million for the nine months ended September 30, 2026. The capital expenditures predominately related to improvements to existing towers to support additional tenants and purchases of land underneath our towers.

Previous wording

◦As of June 30, 2026, our weighted-average remaining term was approximately five years, exclusive of renewals exercisable at the tenants' option, currently representing approximately $22.1 billion of expected future cash inflows, exclusive of amounts due under the Master Lease Agreement and underlying agreements with DISH Wireless L.L.C ("DISH"). See"Item 2. MD&A-General Overview-Outlook Highlights" for further discussion.

Current wording

◦As of September 30, 2026, our weighted-average remaining term was approximately five years, exclusive of renewals exercisable at the tenants' option, currently representing approximately $24.7 billion of expected future cash inflows, exclusive of amounts due under the Master Lease Agreement and underlying agreements with DISH Wireless L.L.C ("DISH"). See"Item 2. MD&A-General Overview-Outlook Highlights" for further discussion.

Previous wording

◦For the six months ended June 30, 2026, approximately 93% of our site rental revenues were derived from T-Mobile, AT&T and Verizon Wireless.

Current wording

◦For the nine months ended September 30, 2026, approximately 93% of our site rental revenues were derived from T-Mobile, AT&T and Verizon Wireless.

Previous wording

◦For the six months ended June 30, 2026, approximately 90% of our towers Adjusted Site Rental Gross Margin and approximately 80% of our towers Adjusted Site Rental Gross Margin was derived from towers located on land that we own or control for greater than 10 and 20 years, respectively. The aforementioned percentages include towers located on land that is owned, including through fee interests and perpetual easements, which represented approximately 45% of our towers Adjusted Site Rental Gross Margin.

Current wording

◦For the nine months ended September 30, 2026, approximately 90% of our towers Adjusted Site Rental Gross Margin and approximately 80% of our towers Adjusted Site Rental Gross Margin was derived from towers located on land that we own or control for greater than 10 and 20 years, respectively. The aforementioned percentages include towers located on land that is owned, including through fee interests and perpetual easements, which represented approximately 45% of our towers Adjusted Site Rental Gross Margin.

Previous wording

◦For the six months ended June 30, 2026, sustaining capital expenditures represented less than 1% of net revenues.

Current wording

◦For the nine months ended September 30, 2026, sustaining capital expenditures represented less than 1% of net revenues.

Previous wording

•Debt portfolio with long-dated maturities extended over multiple years, with all debt having a fixed rate as of June 30, 2026 (see note 5 to our condensed consolidated financial statements and"Item 3. Quantitative and Qualitative Disclosures About Market Risk" for a further discussion of our debt)

Current wording

•Debt portfolio with long-dated maturities extended over multiple years, with the vast majority of such debt having a fixed rate as of September 30, 2026 (see note 5 to our condensed consolidated financial statements and"Item 3. Quantitative and Qualitative Disclosures About Market Risk" for a further discussion of our debt)

Previous wording

◦As of June 30, 2026, our outstanding debt had a weighted-average interest rate of 3.7% and weighted-average maturity of approximately seven years (assuming the anticipated repayment date in July 2028 on the $750 million aggregate principal amount of 4.241% senior secured tower revenue notes ("Tower Revenue Notes, Series 2018-2").

Current wording

◦As of September 30, 2026, our outstanding debt had a weighted-average interest rate of 3.9% and weighted-average maturity of approximately seven years (assuming the anticipated repayment date in July 2028 on the $750 million aggregate principal amount of 4.241% senior secured tower revenue notes ("Tower Revenue Notes, Series 2018-2").

Previous wording

◦As of June 30, 2026, 100% of our debt had fixed rate coupons.

Current wording

◦As of September 30, 2026, 97% of our debt had fixed rate coupons.

Previous wording

▪All amounts outstanding under the 2016 Revolver and 2016 Term Loan A (collectively, the "2016 Credit Facility"),

Current wording

▪All amounts then-outstanding under the 2016 Revolver and 2016 Term Loan A (collectively, the "2016 Credit Facility"),

Previous wording

◦Effective May 1, 2026, our board of directors authorized a stock repurchase program ("2026 Stock Repurchase Program") that authorized the us to repurchase up to $1.0 billion of its outstanding common stock. During the second quarter of 2026, using a portion of the proceeds received from the completion of the Strategic Fiber Transaction, we completed the 2026 Stock Repurchase Program, repurchasing approximately 11 million shares of common stock for an aggregate purchase price of $1.0 billion. These shares are held as treasury stock as of June 30, 2026.

Current wording

◦Effective May 1, 2026, our board of directors authorized a stock repurchase program ("2026 Stock Repurchase Program") that authorized the repurchase of up to $1.0 billion of our outstanding common stock. During the second quarter of 2026, using a portion of the proceeds received from the completion of the Strategic Fiber Transaction, we completed the 2026 Stock Repurchase Program, repurchasing approximately 11 million shares of common stock for an aggregate purchase price of $1.0 billion. These shares are held as treasury stock as of September 30, 2026.

Previous wording

◦Net cash provided by operating activities was $1,040 million for the six months ended June 30, 2026.

Current wording

◦Net cash provided by operating activities was $1.1 billion for the nine months ended September 30, 2026.

Previous wording

◦During the first half of 2026, we paid a cumulative common stock dividend of $2.125 per share, totaling approximately $932 million.

Current wording

◦During the first three quarters of 2026, we paid a cumulative common stock dividend of $3.188 per share, totaling approximately $1.4 billion.

Previous wording

◦On February 4, 2026, we initiated a restructuring plan ("2026 Restructuring Plan") as part of our efforts to enhance the efficiency and effectiveness of our tower business by reducing our headcount in continuing operations. We recorded approximately $14 million in charges for the six months ended June 30, 2026, relating to the employee headcount reduction, including severance and other one-time termination benefits. The actions associated with the 2026 Restructuring Plan and related charges are expected to be substantially completed and recorded by December 31, 2026. The payments are expected to be completed for the employee headcount reduction in 2027. See note 13 to our condensed consolidated financial statements and"Item 2. MD&A—Results of Operations" for further discussion of the 2026 Restructuring Plan.

Current wording

◦On February 4, 2026, we initiated a restructuring plan ("2026 Restructuring Plan") as part of our efforts to enhance the efficiency and effectiveness of our tower business by reducing our headcount in continuing operations. We recorded $20 million in charges for the nine months ended September 30, 2026, relating to the employee headcount reduction, including severance and other one-time termination benefits, and office space consolidation and closures. The actions associated with the 2026 Restructuring Plan and related charges are expected to be substantially completed and recorded by December 31, 2026. The payments are expected to be completed for the employee headcount reduction in 2027. See note 13 to our condensed consolidated financial statements and"Item 2. MD&A—Results of Operations" for further discussion of the 2026 Restructuring Plan.

Previous wording

◦We expect to realize approximately $65 million annualized run-rate savings in operating costs, of which approximately $55 million will be realized in 2026 due to timing. The remaining savings of approximately $10 million will be realized in 2027. We expect to incur aggregate restructuring charges of approximately $25 million in 2026 as a result of the 2026 Restructuring Plan, most of which we expect to incur in the first and second quarters of 2026.

Current wording

◦We expect to realize approximately $65 million annualized run-rate savings in operating costs, of which approximately $55 million will be realized in 2026 due to timing. The remaining savings of approximately $10 million will be realized in 2027. We expect to incur aggregate restructuring charges of approximately $25 million in 2026 as a result of the 2026 Restructuring Plan, $20 million of which was incurred in the first nine months of 2026.

Previous wording

◦The aforementioned open market repurchases of unsecured senior notes resulted in a gain on retirement of long-term obligations for 2026. In addition, interest income increased as sale proceeds were invested in interest-bearing accounts prior to usage.

Current wording

◦The aforementioned open market repurchases of certain unsecured senior notes resulted in a gain on retirement of long-term obligations for 2026. In addition, interest income increased as sale proceeds were invested in interest-bearing accounts prior to usage.

Previous wording

Site rental revenues decreased $41 million, or 4%, for the three months ended June 30, 2026 compared to the three months ended June 30, 2025. This decrease was predominately comprised of the factors depicted in the chart below:

Current wording

Site rental revenues decreased $46 million, or 5%, for the three months ended September 30, 2026 compared to the three months ended September 30, 2025. This decrease was predominately comprised of the factors depicted in the chart below:

Previous wording

(b)Includes $49 million of non-renewals associated with DISH Terminations and $5 million of non-renewals associated with the Sprint Cancellations (as defined below).

Current wording

(b)Includes $61 million of non-renewals associated with DISH Terminations and $5 million of non-renewals associated with the Sprint Cancellations (as defined below).

Previous wording

(d)Prepaid rent amortization includes amortization of upfront payments received from long-term tenants and other deferred credits.

Current wording

(c)Prepaid rent amortization includes amortization of upfront payments received from long-term tenants and other deferred credits.

Previous wording

Site rental revenues and Adjusted Site Rental Gross Margin for the second quarter of 2026 were $967 million and $723 million, respectively, compared to $1.0 billion and $762 million, respectively, in the same period in the prior year. The decrease of $41 million and $39 million in site rental revenue and Adjusted Site Rental Gross Margin, respectively, was primarily due to non-renewals associated with the DISH Terminations and non-renewals associated with the previously disclosed T-Mobile and Sprint network consolidation ("Sprint Cancellations"), as new leasing activity and contractual cash escalators were partially offset by a decline in the associated straight-line accounting adjustment and a decrease in prepaid rent amortization.

Current wording

Site rental revenues and Adjusted Site Rental Gross Margin for the third quarter of 2026 were $966 million and $721 million, respectively, compared to $1,012 million and $767 million, respectively, in the same period in the prior year. Site rental revenues and Adjusted Site Rental Gross Margin each decreased by $46 million, primarily due to non-renewals associated with the DISH Terminations and non-renewals associated with the previously disclosed T-Mobile and Sprint network consolidation ("Sprint Cancellations"), as new leasing activity and contractual cash escalators were partially offset by a decline in the associated straight-line accounting adjustment.

Previous wording

Adjusted Services and Other Gross Margin was $23 million for the second quarter of 2026 and decreased by $3 million from $26 million during the same period in the prior year, which is predominately a reflection of the volume of activity from carriers' network enhancements and the volume and mix of services and other offerings. Our services and other offerings are of a variable nature as these revenues are not under long-term tenant contracts.

Current wording

Adjusted Services and Other Gross Margin was $17 million for the third quarter of 2026 and decreased by $14 million from $31 million during the same period in the prior year, which is predominately a reflection of the volume of activity from carriers' network enhancements and the volume and mix of services and other offerings. Our services and other offerings are of a variable nature as these revenues are not under long-term tenant contracts.

Previous wording

Selling, general and administrative expenses for the second quarter of 2026 were $97 million and decreased by $2 million, or 2%, from $99 million during the same period in the prior year, primarily related to a decrease in certain employee-related costs following the 2026 Restructuring Plan.

Current wording

Selling, general and administrative expenses for the third quarter of 2026 were $82 million and decreased by $15 million, or 15%, from $97 million during the same period in the prior year, primarily related to a decrease in certain employee-related costs following the 2026 Restructuring Plan.

Previous wording

Depreciation, amortization and accretion was $171 million for second quarter of 2026 and decreased by $4 million, or 2%, from the same period in the prior year. This decrease predominately resulted from certain fixed assets becoming fully depreciated.

Current wording

Depreciation, amortization and accretion was $180 million for third quarter of 2026 and increased by $13 million, or 8%, from the same period in the prior year. This increase predominately resulted from higher depreciation expense associated with information technology assets in the third quarter of 2026 being partially offset by certain fixed assets becoming fully depreciated.

Previous wording

Interest expense and amortization of deferred financing costs, net were $208 million for the second quarter of 2026 and decreased by $35 million, or 14%, from $243 million during the same period in the prior year. The decrease was primarily driven by lower outstanding indebtedness following the use of a portion of the proceeds from the completion of the Strategic Fiber Transaction, including repayments of all then-outstanding indebtedness under our 2016 Credit Facility and Commercial Paper Program, repayment of the 3.700% senior unsecured notes at maturity in June 2026, and open market debt repurchases of certain senior unsecured notes. See note 5 to our condensed consolidated financial statements for a further discussion of our debt and"Item 3. Quantitative and Qualitative Disclosures About Market Risk" for a further discussion of our interest rate exposure.

Current wording

Interest expense and amortization of deferred financing costs, net were $177 million for the third quarter of 2026 and decreased by $70 million, or 28%, from $247 million during the same period in the prior year. The decrease was primarily driven by lower outstanding indebtedness following the use of a portion of the proceeds from the completion of the Strategic Fiber Transaction, including repayments of all then-outstanding indebtedness under our 2016 Credit Facility and Commercial Paper Program, repayment of the 3.700% senior unsecured notes at maturity in June 2026, repayment of the 1.050% senior unsecured notes at maturity in July 2026 and open market debt repurchases of certain senior unsecured notes. See note 5 to our condensed consolidated financial statements for a further discussion of our debt and"Item 3. Quantitative and Qualitative Disclosures About Market Risk" for a further discussion of our interest rate exposure.

Previous wording

The provision for income taxes was $4 million for the second quarter for both 2026 and 2025. For the second quarter 2026 and 2025, the effective tax rate differs from the federal statutory rate predominately due to our REIT status, including the dividends paid deduction. See note 7 to our condensed consolidated financial statements and also note 10 to our consolidated financial statements in the 2025 Form 10-K.

Current wording

The provision for income taxes was $5 million for the third quarter of 2026 and increased by $1 million, or 25%, from $4 million in the same period in the prior year. For the third quarter 2026 and 2025, the effective tax rate differs from the federal statutory rate predominately due to our REIT status, including the dividends paid deduction. See note 7 to our condensed consolidated financial statements and also note 10 to our consolidated financial statements in the 2025 Form 10-K.

Previous wording

Income (loss) from continuing operations was $299 million for the second quarter of 2026 and increased by $34 million, or 13% from $265 million during the same period in the prior year. This increase was due primarily to the aforementioned decrease in interest expense and amortization of deferred financing costs, net, increases in gains (losses) on retirement of long-term obligations, and increases in interest income, being partially offset by the decrease in Adjusted Site Rental Gross Margin during the three months ended June 30, 2026.

Current wording

Income (loss) from continuing operations was $283 million for the third quarter of 2026 and increased by $6 million, or 2% from $277 million during the same period in the prior year. This increase was due primarily to the aforementioned decrease in interest expense and amortization of deferred financing costs, net, a decrease in selling, general and administrative expenses being partially offset by the decrease in Adjusted Site Rental Gross Margin, a decrease in Adjusted Services and Other Gross Margin, and increase in depreciation, amortization, and accretion during the three months ended September 30, 2026.

Previous wording

Net income (loss) was $94 million for the second quarter of 2026 compared to $291 million during the second quarter of 2025. The decrease was primarily due to the income (loss) from discontinued operations, net of tax, being partially offset by income (loss) from continuing operations, both of which are discussed above.

Current wording

Net income (loss) was $283 million for the third quarter of 2026 compared to $323 million during the third quarter of 2025. The decrease was primarily due to a decrease in income (loss) from discontinued operations, net of tax, and the increase in income (loss) from continuing operations, both of which are discussed above.

Previous wording

Adjusted EBITDA decreased by $30 million, or 4%, from the second quarter of 2025 to the second quarter of 2026, reflecting the aforementioned decrease in Adjusted Site Rental Gross Margin.

Current wording

Adjusted EBITDA decreased by $45 million, or 6%, from the third quarter of 2025 to the third quarter of 2026, reflecting the aforementioned decreases in Adjusted Site Rental Gross Margin and Adjusted Services and Other Gross Margin, partially offset by the decrease in selling, general and administrative expenses.

Previous wording

Highlights of our results of operations for the six months ended June 30, 2026 and 2025 are depicted below.

Current wording

Highlights of our results of operations for the nine months ended September 30, 2026 and 2025 are depicted below.

Previous wording

Site rental revenues decreased $91 million, or 5%, for the six months ended June 30, 2026 compared to the six months ended June 30, 2025. This decrease was predominately comprised of the factors depicted in the chart below:

Current wording

Site rental revenues decreased $137 million, or 5%, for the nine months ended September 30, 2026 compared to the nine months ended September 30, 2025. This decrease was predominately comprised of the factors depicted in the chart below:

Previous wording

(b)Includes $98 million of non-renewals associated with DISH Terminations and $10 million of non-renewals associated with the Sprint Cancellations.

Current wording

(b)Includes $159 million of non-renewals associated with DISH Terminations and $15 million of non-renewals associated with the Sprint Cancellations.

Previous wording

Site rental revenues and Adjusted Site Rental Gross Margin for the first six months of 2026 were $1.9 billion and $1.4 billion, respectively, compared to $2.0 billion and $1.5 billion, respectively, in the same period in the prior year. The decreases of $91 million and $90 million in site rental revenue and Adjusted Site Rental Gross Margin, respectively, were primarily due to higher non-renewals as a result of the DISH Terminations and non-renewals associated with the Sprint Cancellations, as new leasing activity and contractual cash escalators were partially offset by a decline in the associated straight-line accounting adjustment.

Current wording

Site rental revenues and Adjusted Site Rental Gross Margin for the first nine months of 2026 were $2.9 billion and $2.2 billion, respectively, compared to $3.0 billion and $2.3 billion, respectively, in the same period in the prior year. The decreases of $137 million and $135 million in site rental revenue and Adjusted Site Rental Gross Margin, respectively, were primarily due to higher non-renewals as a result of the DISH Terminations and non-renewals associated with the Sprint Cancellations, as new leasing activity and contractual cash escalators were partially offset by a decline in the associated straight-line accounting adjustment and a decrease in prepaid rent amortization.

Previous wording

Adjusted Services and Other Gross Margin was $47 million for the first six months of 2026 and decreased by $3 million from $50 million during the same period in the prior year, which is a reflection of the volume of activity from carriers' network enhancements and the volume and mix of services and other work. Our services and other offerings are of a variable nature as these revenues are not under long-term tenant contracts.

Current wording

Adjusted Services and Other Gross Margin was $64 million for the first nine months of 2026 and decreased by $18 million from $82 million during the same period in the prior year, which is a reflection of the volume of activity from carriers' network enhancements and the volume and mix of services and other work. Our services and other offerings are of a variable nature as these revenues are not under long-term tenant contracts.

Previous wording

Selling, general and administrative expenses for the first six months of 2026 were $187 million and decreased by $5 million, or 3%, from $192 million during the same period in the prior year. This decrease was primarily related to a decrease in employee costs as a result of our aforementioned restructuring activities.

Current wording

Selling, general and administrative expenses for the first nine months of 2026 were $269 million and decreased by $20 million, or 7%, from $289 million during the same period in the prior year. This decrease was primarily related to a decrease in employee costs as a result of our aforementioned restructuring activities.

Previous wording

Depreciation, amortization and accretion was $343 million for the first six months of 2026 and decreased by $9 million, or 3%, from the same period in the prior year. This decrease predominately resulted from certain fixed assets becoming fully depreciated.

Current wording

Depreciation, amortization and accretion was $523 million for the first nine months of 2026 and increased by $3 million, or 1%, from the same period in the prior year. This increase predominately resulted from higher depreciation expense associated with information technology assets in the third quarter of 2026 being partially offset by certain fixed assets becoming fully depreciated.

Previous wording

There were $14 million in restructuring charges recorded in the first six months of 2026 related to the 2026 Restructuring Plan compared to no charges recorded during the same period in the prior year. See note 13 to our condensed consolidated financial statements for discussion of the 2026 Restructuring Plan.

Current wording

There were $20 million in restructuring charges recorded in the first nine months of 2026 related to the 2026 Restructuring Plan compared to no charges recorded during the same period in the prior year. See note 13 to our condensed consolidated financial statements for discussion of the 2026 Restructuring Plan.

Previous wording

Interest expense and amortization of deferred financing costs, net were $450 million for the first six months of 2026 and decreased by $29 million, or 6%, from $479 million during the same period in the prior year. The decrease was primarily driven by lower outstanding indebtedness following the use of a portion of the proceeds from the completion of the Strategic Fiber Transaction, including repayments of all then-outstanding indebtedness under our 2016 Credit Facility and Commercial Paper Program, repayment of the 3.700% senior unsecured notes at maturity in June 2026, and open market debt repurchases of certain senior unsecured notes. See note 5 to our condensed consolidated financial statements for a further discussion of our debt and "Item 3. Quantitative and Qualitative Disclosures About Market Risk" for a further discussion of our interest rate exposure.

Current wording

Interest expense and amortization of deferred financing costs, net were $627 million for the first nine months of 2026 and decreased by $99 million, or 14%, from $726 million during the same period in the prior year. The decrease was primarily driven by lower outstanding indebtedness following the use of a portion of the proceeds from the completion of the Strategic Fiber Transaction, including repayments of all then-outstanding indebtedness under our 2016 Credit Facility and Commercial Paper Program, repayment of the 3.700% senior unsecured notes at maturity in June 2026, repayment of the 1.050% senior unsecured notes at maturity in July 2026 and open market debt repurchases of certain senior unsecured notes. See note 5 to our condensed consolidated financial statements for a further discussion of our debt and "Item 3. Quantitative and Qualitative Disclosures About Market Risk" for a further discussion of our interest rate exposure.

Previous wording

Gains (losses) on retirement of long-term obligations were $24 million for the first six months of 2026 compared to no gains (losses) during the same period in the prior year. This was driven by the aforementioned open market repurchases of debt completed during the second quarter of 2026 in which we repurchased $530 million face value of various series of unsecured senior notes using $500 million in cash, excluding accrued interest, offset by the write-off of unamortized deferred financing costs of $6 million.

Current wording

Gains (losses) on retirement of long-term obligations were $24 million for the first nine months of 2026 compared to no gains (losses) during the same period in the prior year. This was driven by the aforementioned open market repurchases of certain senior unsecured notes completed during the second quarter of 2026 in which we repurchased $530 million face value of various series of unsecured senior notes using $500 million in cash, excluding accrued interest, offset by the write-off of unamortized deferred financing costs of $6 million.

Previous wording

Interest income was $22 million for the first six months of 2026 compared to $7 million in the first six months of 2025. Interest income increased primarily due to sale proceeds being invested in interest-bearing accounts prior to usage.

Current wording

Interest income was $25 million for the first nine months of 2026 compared to $10 million in the first nine months of 2025. Interest income increased primarily due to the proceeds from the Strategic Fiber Transaction being invested in interest-bearing accounts prior to usage.