Windstream Plan Support Agreement

Uniti will acquire certain fiber assets owned by Windstream for $40 million, including certain fiber contracts that generate $8 million in miles of fiber line over 4,100 miles of road. Windstream and Uniti have agreed to split their main lease into two structurally similar contracts with new terms for the lease of certain properties. Under the Uniti settlement agreement, Uniti has agreed to invest up to $1.75 billion in network investments for Windstream by 2030. Uniti also agreed to pay Windstream approximately $490 million and purchase certain unused and underutilized fiber optic facilities from Windstream for an additional $285 million, which currently generates approximately $29 million in annual OIBDAR. The two companies also reached an agreement in principle to resolve disputes related to Windstream`s Chapter 11 bankruptcy last year. On the day they were asked to go to court against Denkannt, Windstream Holdings and uniti Group announced the settlement terms for their framework lease agreement. With the proposed settlement, Windstream was able to significantly reduce its debt burden, while Uniti made concessions that expanded its national presence in fiber. The restructuring plan will reduce Windstream`s debt burden by about $4 billion (about two-thirds) while providing access to about $2 billion in new capital. Windstream plans to use the funds to extend gigabit Internet services to rural customers and support its SD-WAN and UCaaS offerings to enterprises. Windstream also announced on Monday that it has entered into a Plan Support Agreement (PSA) with its early donors on its restructuring plan. Windstream is burdened with debt between $5.6 billion and $5.8 billion, which Windstream cut by more than $4 billion on Monday. The PSA also included a significant reduction in Windstream`s annual debt service obligations and access to exit financing so that Windstream could achieve its strategic objectives once it emerged from Chapter 11 bankruptcy. Copies of the PSA and Uniti Settlement Agreement can be obtained free of charge from the Kurtzman Carson Consultants LLC website at www.kccllc.net/windstream.

. . .