Liberty Global Ltd. (NASDAQ: LBTYA)

Liberty Global is an international provider of broadband internet, video, fixed line telephony and mobile communications services to residential and business customers in Europe. It also acts as an active investor across the technology, media, sports and infrastructure sectors and provides innovative technology, operational and financial services to its affiliates and third parties. The company delivers residential and B2B communications services in Belgium and Luxembourg through Telenet and in Ireland through VM Ireland, holds 50% noncontrolling interests in the VMO2 JV operating in the United Kingdom and the VodafoneZiggo JV operating in the Netherlands, and has controlling interests in Wyre, an independent infrastructure company in Belgium, and Formula E, a global electric motor racing series. As of March 31, 2026, its reportable segments collectively operated networks that passed approximately 29,147,600 homes and served about 10,914,200 fixed line customers and 48,528,300 mobile subscribers. Through its investment activities, Liberty Global seeks to generate returns by supporting innovation and growth in sectors complementary to its core connectivity business.

The company generates revenue primarily from residential and business communications services across its operating segments, which include subscription and non subscription components such as broadband internet, video, fixed line telephony, mobile services and equipment sales. Wyre contributes revenue by providing wholesale access to its telecommunications network in Belgium. Additional revenue comes from Formula E, the sale of customer premise equipment to the VMO2 and VodafoneZiggo joint ventures, broadcasting revenue, and services under the U. K. JV Services, Sunrise Services and NL JV Services arrangements.

Liberty Global operates through the following segments: Telenet, VM Ireland, VMO2 JV, VodafoneZiggo JV, Wyre and the all other category.

• Telenet: Provides residential and B2B broadband internet, video, fixed line telephony and mobile services in Belgium and Luxembourg, and also earns broadcasting revenue.

• VM Ireland: Delivers residential and B2B broadband internet, video, fixed line telephony and mobile services in Ireland.

• VMO2 JV: Offers residential and B2B broadband internet, video, fixed line telephony and mobile services in the United Kingdom, in which Liberty Global holds a 50% noncontrolling interest.

• VodafoneZiggo JV: Supplies residential and B2B broadband internet, video, fixed line telephony and mobile services in the Netherlands, in which Liberty Global holds a 50% interest.

• Wyre: Supplies wholesale access to its telecommunications network in Belgium.

• All other category: Includes revenue from Formula E, the U. K. JV Services, Sunrise Services, NL JV Services, sales of customer premise equipment to the VMO2 and VodafoneZiggo joint ventures, and broadcasting revenue from Telenet and VM Ireland.

Liberty Global competes with other telecommunications operators in each of its markets and maintains a differentiated position through its diversified portfolio of connectivity services, infrastructure assets and investments in technology, media and sports. The company benefits from scale, a varied revenue mix and its ability to offer bundled fixed and mobile solutions to residential and business clients. This diversification allows the company to balance fluctuations in any single market and to leverage synergies across its operations.

The company serves residential and business customers across Belgium, Luxembourg, Ireland, the United Kingdom and the Netherlands, as well as its affiliates and third party partners. Its business customer base includes small office/home office users and larger enterprises that require connectivity, data and communication solutions. In addition, Wyre serves wholesale telecommunications operators that rely on its network infrastructure.