Uniti Group Inc.

For the period ended Sep 30, 2025. Filed Nov 7, 2025.

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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2025 · Filed Nov 7, 2025

UNIT$4.40-15.7%Stored close · as of Nov 9, 2026

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Contents

15. Supplementary Unrestricted Subsidiary Information

Note 15. Supplementary Unrestricted Subsidiary Information:

During 2024, we formed the Uniti Fiber ABS Parent LLC (“ABS Parent”) and the ABS Bridge Loan Parties, each an indirect, bankruptcy-remote subsidiary of the Company, and we designated ABS Parent and the ABS Bridge Loan Parties as unrestricted subsidiaries under the Credit Agreement and the applicable indentures governing the Company’s outstanding senior notes. During 2025, we formed the ABS Notes Obligors (other than Uniti Fiber GulfCo LLC, which was formed in 2024), each a subsidiary of ABS Parent and an indirect, bankruptcy-remote subsidiary of the Company. Each ABS Notes Obligor is an unrestricted subsidiary under the Credit Agreement and the applicable indentures governing the Company’s senior notes. See Note 5.

Below are the Condensed Consolidated Balance Sheets as of September 30, 2025 and December 31, 2024, and the Condensed Consolidated Statements of Income for the nine months ended September 30, 2025 and 2024, respectively, of such unrestricted subsidiaries:

(Millions)	Unrestricted Subsidiaries	Restricted Subsidiaries	Eliminations	Consolidated
Assets:
Current assets:
Cash and cash equivalents	$1.9	$156.1	$—	$158.0
Restricted cash	68.5	5.4	—	73.9
Accounts receivable, net	11.2	372.7	(38.6)	345.3
Prepaid expenses	—	104.0	—	104.0
Other current assets	—	193.0	—	193.0
Total current assets	81.6	831.2	(38.6)	874.2
Goodwill	—	1,164.3	—	1,164.3
Intangible assets, net	—	1,352.4	—	1,352.4
Property, plant and equipment, net	448.7	7,610.7	—	8,059.4
Operating lease right-of-use assets, net	—	541.4	—	541.4
Other assets	23.2	95.6	(31.3)	87.5
Total assets	$553.5	$11,595.6	$(69.9)	$12,079.2
Liabilities and shareholders' equity (deficit):
Current liabilities:
Accounts payable	$34.0	$166.5	$(38.6)	$161.9
Deferred revenue	6.0	179.2	—	185.2
Current portion of operating lease obligations	—	124.3	—	124.3
Accrued taxes	2.4	63.9	—	66.3
Accrued interest	7.6	153.9	—	161.5
Other current liabilities	—	371.1	—	371.1
Total current liabilities	50.0	1,058.9	(38.6)	1,070.3
Notes and other debt, net	577.9	8,728.5	(21.3)	9,285.1
Noncurrent operating lease obligations	—	381.3	—	381.3
Noncurrent deferred revenue	51.5	337.9	(10.0)	379.4
Deferred income tax assets, net	—	13.7	—	13.7
Other liabilities	—	268.6	—	268.6
Total liabilities	679.4	10,788.9	(69.9)	11,398.4
Shareholders' (deficit) equity:
Total shareholders' (deficit) equity	(125.9)	806.7	—	680.8
Total liabilities and shareholders' equity (deficit)	$553.5	$11,595.6	$(69.9)	$12,079.2

(Millions)	Unrestricted Subsidiaries	Restricted Subsidiaries	Eliminations	Consolidated
Assets:
Current assets:
Cash and cash equivalents	$1.7	$153.9	$—	$155.6
Restricted cash	28.1	0.1	—	28.2
Accounts receivable, net	9.0	46.4	(3.9)	51.5
Prepaid expenses	—	16.2	—	16.2
Other current assets	0.1	18.0	—	18.1
Total current assets	38.9	234.6	(3.9)	269.6
Goodwill	—	157.4	—	157.4
Intangible assets, net	—	275.4	—	275.4
Property, plant and equipment, net	446.5	3,763.2	—	4,209.7
Operating lease right-of-use assets, net	—	126.8	—	126.8
Deferred income tax assets, net	—	128.0	—	128.0
Other assets	0.8	284.9	(170.5)	115.2
Total assets	$486.2	$4,970.3	$(174.4)	$5,282.1
Liabilities and shareholders' equity (deficit):
Current liabilities:
Accounts payable	$3.2	$14.3	$(3.9)	$13.6
Deferred revenue	4.6	79.9	—	84.5
Current portion of operating lease obligations	—	12.7	—	12.7
Accrued taxes	0.2	6.9	—	7.1
Accrued interest	0.9	143.0	—	143.9
Other current liabilities	—	118.9	—	118.9
Total current liabilities	8.9	375.7	(3.9)	380.7
Notes and other debt, net	271.3	5,512.3	—	5,783.6
Noncurrent operating lease obligations	—	67.8	—	67.8
Noncurrent deferred revenue	38.9	1,277.6	—	1,316.5
Other liabilities	—	185.4	—	185.4
Total liabilities	319.1	7,418.8	(3.9)	7,734.0
Shareholders' equity (deficit):
Total shareholders' equity (deficit)	167.2	(2,448.6)	(170.5)	(2,451.9)
Total liabilities and shareholders' equity (deficit)	$486.3	$4,970.2	$(174.4)	$5,282.1

(Millions)	Unrestricted Subsidiaries	Restricted Subsidiaries	Eliminations	Consolidated
Total revenues and sales	$104.3	$1,260.5	$(47.5)	$1,317.3
Costs and expenses:
Cost of services (exclusive of depreciation and amortization)	38.5	324.4	(39.2)	323.7
Cost of sales (exclusive of depreciation and amortization)	—	27.4	—	27.4
Selling, general and administrative	9.8	175.9	(8.3)	177.4
Depreciation and amortization	17.5	344.2	—	361.7
Gain on sale of operating assets	—	—	—	—
Transaction related and other costs	—	179.0	—	179.0
Total costs and expenses	65.8	1,050.9	(47.5)	1,069.2
Operating income	38.5	209.6	—	248.1
Other expense, net	—	(1.3)	—	(1.3)
Gain on settlement of preexisting relationships	0.2	1,685.2	—	1,685.4
Interest expense, net	(32.6)	(434.4)	—	(467.0)
Income before income taxes	6.1	1,459.1	—	1,465.2
Income tax benefit	—	145.2	—	145.2
Net income	$6.1	$1,604.3	$—	$1,610.4

(Millions)	Unrestricted Subsidiaries	Restricted Subsidiaries	Eliminations	Consolidated
Total revenues and sales	$46.8	$836.8	$(10.0)	$873.6
Costs and expenses:
Cost of services (exclusive of depreciation and amortization)	—	98.5	—	98.5
Cost of sales (exclusive of depreciation and amortization)	—	8.2	—	8.2
Selling, general and administrative	23.6	66.9	(10.0)	80.5
Depreciation and amortization	12.1	222.8	—	234.9
Gain on sale of operating assets	—	(19.0)	—	(19.0)
Transaction related and other costs	—	31.1	—	31.1
Total costs and expenses	35.7	408.5	(10.0)	434.2
Operating income	11.1	428.3	—	439.4
Other income, net	—	0.3	—	0.3
Interest expense, net	(17.0)	(364.7)	—	(381.7)
(Loss) income before income taxes	(5.9)	63.9	—	58.0
Income tax benefit	—	13.8	—	13.8
Net (loss) income	$(5.9)	$77.7	$—	$71.8

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