Cable One Signs Agreement To Acquire Remaining 55% Stake In Mega Broadband Investments; Purchase Price Expected Between ~$475M To ~$495M

Cable One, Inc. (NYSE: CABO) (the "Company") today announced it has entered into a definitive agreement to acquire all of the equity interests in Mega Broadband Investments Holdings LLC ("MBI") that it does not already own. Full ownership of MBI will provide Cable One with a larger and more geographically diversified operating footprint in attractive markets and unlock efficiency opportunities from increased scale.

Cable One currently owns a 45% stake in MBI, and certain affiliates of GTCR LLC (the "GTCR Investors") and MBI management own the balance of MBI. Under the terms of the transaction, the Company will pay a purchase price for the 55% of MBI that it does not already own calculated under a formula based on (i) a multiple of MBI's adjusted earnings before interest, taxes, depreciation and amortization and (ii) MBI's total net indebtedness. Based on currently available information, (i) the purchase price payable by the Company is expected to range between approximately $475 million and $495 million; and (ii) MBI's total net indebtedness that will be outstanding at the time it becomes a wholly-owned subsidiary of the Company in the fourth quarter of 2026 is expected to be approximately $845 million to $895 million (in the form of term loans maturing in November 2027).