Dr. John C. Malone to Become Chairman Emeritus of Liberty Global

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10/29/2025 – 11:30 AM

Mike Fries, CEO of Liberty Global, to Assume Chairman Role

DENVER, Colorado – Liberty Global Ltd. (Nasdaq: LBTYA, LBTYB, LBTYK) today announced a significant leadership transition. Dr. John C. Malone, Chairman of the Board, will step down from his position effective January 1, 2026, transitioning to the role of Chairman Emeritus. Malone’s new capacity will involve providing strategic counsel to Liberty Global and potentially attending board meetings, but without a formal vote.

Mike Fries, the current Chief Executive Officer and Vice Chairman, is slated to succeed Dr. Malone as Chairman. Fries has been at the helm as CEO since the company’s formation in 2005, and was a co-founder of its predecessor, bringing over three decades of experience to the position. He also serves as Chairman of both Liberty Latin America Ltd. and Sunrise Communications AG, two entities previously spun off from Liberty Global. This move signals a continuity of leadership and strategy for the multinational telecommunications giant.

Dr. Malone reflected on his tenure, stating, “Serving as Chairman of Liberty Global over the past 20 years has been a tremendous journey. The return to long-term shareholders has been outstanding, and the path has been dynamic and engaging.”

Malone further commented on the evolution of Liberty Global under Fries’ leadership. “Mike and the team have adeptly managed the technological and market shifts over the years, reshaping the portfolio, prioritizing national scale, and pioneering in digital television, gigabit broadband, and fixed-mobile convergence.” This highlights Liberty Global’s strategic shift towards converged services, a key trend in the telecommunications industry as companies seek to bundle offerings and create more compelling value propositions for consumers. The focus on gigabit broadband also underscores the company’s commitment to next-generation infrastructure, vital for supporting data-intensive applications and maintaining a competitive edge.

He expressed his confidence in Fries, “I have complete confidence in Mike to continue guiding the company forward. He and I have always agreed on the best ways to create value for shareholders, and I will remain one of Liberty Global’s largest.” Malone’s decision to remain a significant shareholder further emphasizes his belief in the company’s future prospects and Fries’ leadership.

Mr. Fries acknowledged Dr. Malone’s influence, saying, “Our partnership […] has been the most rewarding experience of my professional career. His extraordinary wisdom and strategic guidance have been invaluable… I want to thank John for his tremendous contributions to Liberty Global and for agreeing to remain engaged as we continue to unlock value for shareholders.”

Following Dr. Malone’s resignation, the Board will consist of ten directors, with nine being independent. This composition aims to ensure strong corporate governance and independent oversight of the company’s operations.

FORWARD-LOOKING STATEMENTS

This Press Release contains forward-looking statements subject to uncertainties. Actual events and results may differ materially from those anticipated. The Company disclaims any duty to update these statements.

ABOUT LIBERTY GLOBAL

Liberty Global Ltd. (Nasdaq: LBTYA, LBTYB, LBTYK) focuses on delivering long-term shareholder value through the management of three platforms: Liberty Telecom, Liberty Growth, and Liberty Services.

Liberty Telecom is a leader in converged broadband, video, and mobile communications, with over 80 million fixed and mobile connections across Europe. It leverages advanced fiber and 5G networks, generating approximately $21.6 billion in aggregate revenue. This massive scale allows Liberty Global to exert significant influence in the European telecommunications market, providing economies of scale and negotiating power with suppliers and content providers. The investments in fiber and 5G also point to a proactive approach to future-proofing its network infrastructure.

Liberty Growth invests in scalable businesses across technology, media, sports, and infrastructure, holding a portfolio valued at $3.4 billion as of September 30, 2025. This diversified portfolio provides Liberty Global with exposure to emerging technologies and potential growth markets, offsetting some of the risks associated with its core telecommunications business.

Liberty Services delivers technology, operational, and financial services to Liberty affiliated companies and third parties, generating approximately $600 million in annual revenue. This internal services division allows Liberty Global to leverage its expertise and infrastructure to generate additional revenue streams while optimizing operational efficiency.

These platforms position Liberty Global as a converged connectivity and investment company focused on creating sustainable, long-term value for shareholders.

* As independently valued as of September 30, 2025.

** Represents full year 2024 revenue of Liberty Services, substantially all of which is derived from our consolidated businesses and nonconsolidated joint ventures.

For more information, please visit www.libertyglobal.com.

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