GCI Liberty Declares A Dividend Of Pro Rata Subscription Rights For Holders Of Series A, B, And C GCI Group Common Stock To Acquire Additional Series C Shares , With An Aggregate Intended Offering Of $300M

GCI Liberty, Inc. (NASDAQ:GLIBA, GLIBK))) ("GCI Liberty") today announced that its Board of Directors (the "Board") has declared a dividend of pro rata subscription rights to acquire shares of its Series C GCI Group common stock ("GLIBK") to all holders of record of its Series A, Series B and Series C GCI Group common stock as of 5:00 p.m., New York City time, on November 24, 2025, with an aggregate intended offering price of $300 million. The distribution of the rights is subject to certain conditions.

The rights offering is expected to commence November 26, 2025 and expire December 17, 2025, subject to extension. Each right will entitle the holder to a basic subscription privilege and an oversubscription privilege. Under the basic subscription privilege, each whole right will entitle its holder to acquire one share of GLIBK at an approximate 20% discount to the volume weighted average trading price of GLIBK over a ten consecutive trading day period to be determined prior to the commencement of the rights offering. Under the oversubscription privilege, each whole right will also entitle any holder who exercises its basic subscription right in full to acquire additional shares of GLIBK at the same discounted price, subject to certain restrictions. All exercises of rights are irrevocable even if the Board determines to extend the expiration time. John C. Malone, Chairman of the Board of GCI Liberty, has advised GCI Liberty that he intends to exercise in full his basic subscription privilege and exercise his oversubscription privilege to acquire any and all shares remaining available following appropriate proration allocations by the subscription agent. Dr. Malone may also acquire rights in the open market.

The rights will be transferable, and GCI Liberty expects that they will begin trading on the Nasdaq Global Select Market on November 26, 2025 under the symbol "GLIBR." The rights will cease trading at the close of market immediately prior to the expiration time.