# Optimum Communications (OPTU) 10-Q SEC filing - Q3 FY2025

- Filed: Nov 6, 2025
- Fiscal quarter: Q3 FY2025
- Calendar quarter: Q3 2025
- Accession: 0001702780-25-000010
- OpenCapital page: https://www.opencapital.sh/filings/0001702780-25-000010
- Markdown URL: https://www.opencapital.sh/filings/0001702780-25-000010.md
- Official SEC filing index: https://www.sec.gov/Archives/edgar/data/1702780/0001702780-25-000010-index.htm

## Filing documents

- [10-Q (atus-20250930.htm)](https://www.sec.gov/Archives/edgar/data/1702780/000170278025000010/atus-20250930.htm)
- [EX-3.1 (alticeusainc-certificateof.htm)](https://www.sec.gov/Archives/edgar/data/1702780/000170278025000010/alticeusainc-certificateof.htm)
- [EX-3.2 (thirdamendedandrestatedbyl.htm)](https://www.sec.gov/Archives/edgar/data/1702780/000170278025000010/thirdamendedandrestatedbyl.htm)
- [EX-31.1 (a9-30x25exhibit311.htm)](https://www.sec.gov/Archives/edgar/data/1702780/000170278025000010/a9-30x25exhibit311.htm)
- [EX-31.2 (a9-30x25exhibit312.htm)](https://www.sec.gov/Archives/edgar/data/1702780/000170278025000010/a9-30x25exhibit312.htm)
- [EX-32 (a9-30x25exhibit32.htm)](https://www.sec.gov/Archives/edgar/data/1702780/000170278025000010/a9-30x25exhibit32.htm)

---

## 10-Q

SEC source: [atus-20250930.htm](https://www.sec.gov/Archives/edgar/data/1702780/000170278025000010/atus-20250930.htm)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

### FORM 10-Q

(Mark One)

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2025

OR

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

| Commission File Number | Registrant; State of Incorporation; Address and Telephone Number | IRS Employer Identification No. |
| --- | --- | --- |
| 001-38126 |  | 38-3980194 |
|  | Altice USA, Inc. |  |
|  | Delaware |  |
|  | 1 Court Square West |  |
|  | New York |  |
|  | 803-2300 |  |

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered

Class A Common Stock, par value $0.01 per share ATUS NYSE

- Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
- Yes ☒ No ☐  
- Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).
- Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer", "accelerated filer", "smaller reporting company", and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large Accelerated Filer ☐ Accelerated filer ☒

Non-accelerated filer ☐ Smaller reporting company ☐

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

Number of shares of common stock outstanding as of October 31, 2025 469,830,736

ALTICE USA, INC. AND SUBSIDIARIES

FORM 10-Q

TABLE OF CONTENTS

- Page
- PART I. FINANCIAL INFORMATION [2](#i1eb037f30ae64544a7b948b56da6036a_10)
- Item 1. Financial Statements
- ALTICE USA, INC. AND SUBSIDIARIES
- Consolidated Financial Statements
- Consolidated Balance Sheets - September 30, 2025 (Unaudited) and December 31, 2024 [2](#i1eb037f30ae64544a7b948b56da6036a_16)
- Consolidated Statements of Operations - Three and nine months ended September 30, 2025 and 2024 (Unaudited) [3](#i1eb037f30ae64544a7b948b56da6036a_19)
- Consolidated Statements of Comprehensive Loss - Three and nine months ended September 30, 2025 and 2024 (Unaudited) [4](#i1eb037f30ae64544a7b948b56da6036a_22)
- Consolidated Statements of Stockholders' Deficiency - Three and nine months ended September 30, 2025 and 2024 (Unaudited) [5](#i1eb037f30ae64544a7b948b56da6036a_25)
- Consolidated Statements of Cash Flows - Nine months ended September 30, 2025 and 2024 (Unaudited) [9](#i1eb037f30ae64544a7b948b56da6036a_28)
- Combined Notes to Consolidated Financial Statements (Unaudited) [16](#i1eb037f30ae64544a7b948b56da6036a_46)
- Supplemental Financial Statements Furnished:
- CSC HOLDINGS, LLC AND SUBSIDIARIES
- Consolidated Financial Statements
- Consolidated Balance Sheets - September 30, 2025 (Unaudited) and December 31, 2024 [10](#i1eb037f30ae64544a7b948b56da6036a_31)
- Consolidated Statements of Operations - Three and nine months ended September 30, 2025 and 2024 (Unaudited) [11](#i1eb037f30ae64544a7b948b56da6036a_34)
- Consolidated Statements of Comprehensive Loss - Three and nine months ended September 30, 2025 and 2024 (Unaudited) [12](#i1eb037f30ae64544a7b948b56da6036a_37)
- Consolidated Statements of Member's Deficiency - Three and nine months ended September 30, 2025 and 2024 (Unaudited) [13](#i1eb037f30ae64544a7b948b56da6036a_40)
- Consolidated Statements of Cash Flows - Nine months ended September 30, 2025 and 2024 (Unaudited) [15](#i1eb037f30ae64544a7b948b56da6036a_43)
- Combined Notes to Consolidated Financial Statements (Unaudited) [16](#i1eb037f30ae64544a7b948b56da6036a_46)
- Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations [35](#i1eb037f30ae64544a7b948b56da6036a_112)
- Item 3. Quantitative and Qualitative Disclosures About Market Risk [56](#i1eb037f30ae64544a7b948b56da6036a_160)
- Item 4. Controls and Procedures [56](#i1eb037f30ae64544a7b948b56da6036a_163)
- PART II. OTHER INFORMATION [57](#i1eb037f30ae64544a7b948b56da6036a_166)
- Item 1. Legal Proceedings [57](#i1eb037f30ae64544a7b948b56da6036a_169)
- Item 5. Other Information [57](#i1eb037f30ae64544a7b948b56da6036a_172)
- Item 6. Exhibits [58](#i1eb037f30ae64544a7b948b56da6036a_175)
- SIGNATURES [59](#i1eb037f30ae64544a7b948b56da6036a_178)

Part I. FINANCIAL INFORMATION

## Item 1. Financial Statements

**ALTICE USA, INC. AND SUBSIDIARIESCONSOLIDATED BALANCE SHEETS(In thousands, except share amounts)**

| Line item | September 30, 2025(Unaudited) | December 31, 2024 |
| --- | --- | --- |
| ASSETS |  |  |
| Current Assets: |  |  |
| Cash and cash equivalents | $938,759 | $256,534 |
| Restricted cash | 82,201 | 290 |
| Accounts receivable, trade (less allowance for credit losses of $23,635 and $24,232, respectively) | 327,727 | 332,271 |
| Prepaid expenses and other current assets ($445 and $314 due from affiliates, respectively) | 173,564 | 141,897 |
| Total current assets | 1,522,251 | 730,992 |
| Property, plant and equipment, net of accumulated depreciation of $9,562,268 and $8,762,014, respectively | 8,430,127 | 8,414,632 |
| Right-of-use operating lease assets | 248,673 | 248,013 |
| Other assets | 123,147 | 94,403 |
| Amortizable intangibles, net of accumulated amortization of $6,399,567 and $6,190,154, respectively | 764,506 | 960,805 |
| Indefinite-lived cable franchise rights | 11,600,000 | 13,211,308 |
| Goodwill | 8,041,217 | 8,041,217 |
| Total assets | $30,729,921 | $31,701,370 |
| LIABILITIES AND STOCKHOLDERS' DEFICIENCY |  |  |
| Current Liabilities: |  |  |
| Accounts payable | $775,665 | $971,499 |
| Interest payable | 340,462 | 406,208 |
| Accrued employee related costs | 193,357 | 191,990 |
| Deferred revenue | 146,939 | 74,167 |
| Debt | 95,214 | 185,473 |
| Other current liabilities ($21,555 and $26,944 due to affiliates, respectively) | 426,828 | 425,459 |
| Total current liabilities | 1,978,465 | 2,254,796 |
| Other liabilities | 313,484 | 320,435 |
| Deferred tax liability | 4,278,892 | 4,455,840 |
| Right-of-use operating lease liability | 256,266 | 255,116 |
| Long-term debt, net of current maturities | 26,142,404 | 24,872,015 |
| Total liabilities | 32,969,511 | 32,158,202 |
| Commitments and contingencies (Note 15) |  |  |
| Stockholders' Deficiency: |  |  |
| Preferred stock, $0.01 par value, 100,000,000 shares authorized, no shares issued and outstanding | — | — |
| Class A common stock: $0.01 par value, 4,000,000,000 shares authorized, 286,356,259 shares issued and 285,388,630 outstanding as of September 30, 2025 and 279,948,159 shares issued and 278,980,530 outstanding as of December 31, 2024 | 2,864 | 2,799 |
| Class B common stock: $0.01 par value, 1,000,000,000 shares authorized, 490,086,674 issued, 184,223,507 shares outstanding as of September 30, 2025 and 184,224,015 shares outstanding as of December 31, 2024 | 1,842 | 1,842 |
| Class C common stock: $0.01 par value, 4,000,000,000 shares authorized, no shares issued and outstanding | — | — |
| Paid-in capital | 256,363 | 233,953 |
| Accumulated deficit | (2,501,819) | (703,993) |
|  | (2,240,750) | (465,399) |
| Treasury stock, at cost (967,629 shares of Class A common stock) | (10) | (10) |
| Accumulated other comprehensive loss | (1,395) | (3,826) |
| Total Altice USA stockholders' deficiency | (2,242,155) | (469,235) |
| Noncontrolling interests | 2,565 | 12,403 |
| Total stockholders' deficiency | (2,239,590) | (456,832) |
| Total liabilities and stockholders' deficiency | $30,729,921 | $31,701,370 |

See accompanying notes to consolidated financial statements.

**ALTICE USA, INC. AND SUBSIDIARIES**

### CONSOLIDATED STATEMENTS OF OPERATIONS

_(In thousands, except per share amounts) · (Unaudited)_

| Line item | Three Months Ended September 30, 2025 | Three Months Ended September 30, 2024 | Nine Months Ended September 30, 2025 | Nine Months Ended September 30, 2024 |
| --- | --- | --- | --- | --- |
| Revenue (including revenue from affiliates of $18, $74, $179, and $386 respectively) (See Note 14) | $2,108,110 | $2,227,700 | $6,407,595 | $6,719,390 |
| Operating expenses: |  |  |  |  |
| Programming and other direct costs (including charges from affiliates of $1,676, $2,449, $4,217, and $8,951, respectively) (See Note 14) | 639,012 | 711,330 | 1,972,233 | 2,174,677 |
| Other operating expenses (including charges from affiliates of $13,604, $13,429, $39,066, and $34,188 respectively) (See Note 14) | 650,454 | 674,564 | 2,045,507 | 2,019,356 |
| Restructuring, impairments and other operating items (See Note 7) | 1,568,120 | 10,871 | 1,656,568 | 15,525 |
| Depreciation and amortization | 415,308 | 386,342 | 1,243,490 | 1,170,503 |
|  | 3,272,894 | 1,783,107 | 6,917,798 | 5,380,061 |
| Operating income | (1,164,784) | 444,593 | (510,203) | 1,339,329 |
| Other income (expense): |  |  |  |  |
| Interest expense, net | (459,124) | (448,168) | (1,331,799) | (1,328,264) |
| Gain on investments and sale of affiliate interests | — | — | 5 | 292 |
| Gain (loss) on interest rate swap contracts, net | 1,147 | (45,657) | (142) | 10,220 |
| Loss on extinguishment of debt and write-off of deferred financing costs | — | — | (1,693) | (7,035) |
| Other expense, net | (591) | (1,495) | (2,388) | (4,526) |
|  | (458,568) | (495,320) | (1,336,017) | (1,329,313) |
| Income (loss) before income taxes | (1,623,352) | (50,727) | (1,846,220) | 10,016 |
| Income tax benefit (expense) | 1,397 | 9,892 | 65,008 | (42,045) |
| Net loss | (1,621,955) | (40,835) | (1,781,212) | (32,029) |
| Net income attributable to noncontrolling interests | (3,944) | (2,135) | (16,614) | (16,773) |
| Net loss attributable to Altice USA, Inc. stockholders | $(1,625,899) | $(42,970) | $(1,797,826) | $(48,802) |
| Net loss per share: |  |  |  |  |
| Basic and diluted net loss per share attributable to Altice USA, Inc. stockholders | $(3.47) | $(0.09) | $(3.85) | $(0.11) |
| Basic and diluted weighted average common shares (in thousands) | 468,676 | 460,626 | 467,108 | 459,335 |
| Cash dividends declared per common share | — | — | — | — |

See accompanying notes to consolidated financial statements.

3

**ALTICE USA, INC. AND SUBSIDIARIES**

### CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS

_(In thousands) · (Unaudited)_

| Line item | Three Months Ended September 30, 2025 | Three Months Ended September 30, 2024 | Nine Months Ended September 30, 2025 | Nine Months Ended September 30, 2024 |
| --- | --- | --- | --- | --- |
| Net loss | $(1,621,955) | $(40,835) | $(1,781,212) | $(32,029) |
| Other comprehensive income (loss): |  |  |  |  |
| Defined benefit pension plans | (127) | (1,293) | 2,844 | 8,141 |
| Applicable income taxes | 34 | 350 | (767) | (2,200) |
| Defined benefit pension plans, net of income taxes | (93) | (943) | 2,077 | 5,941 |
| Foreign currency translation adjustment | (530) | 414 | 354 | (403) |
| Other comprehensive income (loss) | (623) | (529) | 2,431 | 5,538 |
| Comprehensive loss | (1,622,578) | (41,364) | (1,778,781) | (26,491) |
| Comprehensive income attributable to noncontrolling interests | (3,944) | (2,135) | (16,614) | (16,773) |
| Comprehensive loss attributable to Altice USA, Inc. stockholders | $(1,626,522) | $(43,499) | $(1,795,395) | $(43,264) |

See accompanying notes to consolidated financial statements.

4

**ALTICE USA, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIENCY(In thousands) (Unaudited)**

| Line item | Class ACommon Stock | Class BCommon Stock | Paid-in Capital | Accumulated Deficit | Treasury Stock | Accumulated Other Comprehensive Loss | Total Altice USAStockholders' Deficiency | Non-controlling Interests | Total Deficiency |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Balance at January 1, 2025 | $2,799 | $1,842 | $233,953 | $(703,993) | $(10) | $(3,826) | $(469,235) | $12,403 | $(456,832) |
| Net loss attributable to Altice USA stockholders | — | — | — | (75,676) | — | — | (75,676) | — | (75,676) |
| Net income attributable to noncontrolling interests | — | — | — | — | — | — | — | 4,405 | 4,405 |
| Pension liability adjustments, net of income taxes | — | — | — | — | — | (1,125) | (1,125) | — | (1,125) |
| Foreign currency translation adjustment | — | — | — | — | — | (54) | (54) | — | (54) |
| Share-based compensation expense (equity classified) | — | — | 11,587 | — | — | — | 11,587 | — | 11,587 |
| Other, net | 46 | — | (8,543) | — | — | — | (8,497) | — | (8,497) |
| Balance at March 31, 2025 | $2,845 | $1,842 | $236,997 | $(779,669) | $(10) | $(5,005) | $(543,000) | $16,808 | $(526,192) |
| Net loss attributable to Altice USA stockholders | — | — | — | (96,251) | — | — | (96,251) | — | (96,251) |
| Net income attributable to noncontrolling interests | — | — | — |  | — | — | — | 8,265 | 8,265 |
| Pension liability adjustments, net of income taxes | — | — | — | — | — | 3,295 | 3,295 | — | 3,295 |
| Foreign currency translation adjustment | — | — | — | — | — | 938 | 938 | — | 938 |
| Share-based compensation expense (equity classified) | — | — | 12,054 | — | — | — | 12,054 | — | 12,054 |
| Distributions to non-controlling interests | — | — | — | — | — | — | — | (26,452) | (26,452) |
| Other, net | 9 | — | (1,160) | — | — | — | (1,151) | — | (1,151) |
| Balance at June 30, 2025 | $2,854 | $1,842 | $247,891 | $(875,920) | $(10) | $(772) | $(624,115) | $(1,379) | $(625,494) |

See accompanying notes to consolidated financial statements.

5

**ALTICE USA, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIENCY (Continued)(In thousands) (Unaudited)**

| Line item | Class ACommon Stock | Class BCommon Stock | Paid-in Capital | Accumulated Deficit | Treasury Stock | Accumulated Other Comprehensive Income | Total Altice USAStockholders' Deficiency | Non-controlling Interests | Total Deficiency |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Balance at June 30, 2025 | $2,854 | $1,842 | $247,891 | $(875,920) | $(10) | $(772) | $(624,115) | $(1,379) | $(625,494) |
| Net loss attributable to stockholders | — | — | — | (1,625,899) | — | — | (1,625,899) | — | (1,625,899) |
| Net income attributable to noncontrolling interests | — | — | — | — | — | — | — | 3,944 | 3,944 |
| Pension liability adjustments, net of income taxes | — | — | — | — | — | (93) | (93) | — | (93) |
| Foreign currency translation adjustment | — | — | — | — | — | (530) | (530) | — | (530) |
| Share-based compensation expense (equity classified) | — | — | 9,696 | — | — | — | 9,696 | — | 9,696 |
| Other, net | 10 | — | (1,224) | — | — | — | (1,214) | — | (1,214) |
| Balance at September 30, 2025 | $2,864 | $1,842 | $256,363 | $(2,501,819) | $(10) | $(1,395) | $(2,242,155) | $2,565 | $(2,239,590) |

See accompanying notes to consolidated financial statements.

6

**ALTICE USA, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIENCY (Continued)(In thousands) (Unaudited)**

| Line item | Class ACommon Stock | Class BCommon Stock | Paid-in Capital | Accumulated Deficit | Treasury Stock | Accumulated Other Comprehensive Loss | Total Altice USAStockholders' Deficiency | Non-controlling Interests | Total Deficiency |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Balance at January 1, 2024 | $2,718 | $1,842 | $187,186 | $(601,075) | — | $(12,851) | $(422,180) | $(12,238) | $(434,418) |
| Net loss attributable to Altice USA stockholders | — | — | — | (21,193) | — | — | (21,193) | — | (21,193) |
| Net income attributable to noncontrolling interests | — | — | — | — | — | — | — | 8,297 | 8,297 |
| Pension liability adjustments, net of income taxes | — | — | — | — | — | 4,255 | 4,255 | — | 4,255 |
| Foreign currency translation adjustment | — | — | — | — | — | (612) | (612) | — | (612) |
| Share-based compensation expense (equity classified) | — | — | 6,484 | — | — | — | 6,484 | — | 6,484 |
| Other, net | 49 | — | 2,043 | — | (10) | — | 2,082 | — | 2,082 |
| Balance at March 31, 2024 | 2,767 | 1,842 | 195,713 | (622,268) | (10) | (9,208) | (431,164) | (3,941) | (435,105) |
| Net income attributable to Altice USA stockholders | — | — | — | 15,361 | — | — | 15,361 | — | 15,361 |
| Net income attributable to noncontrolling interests | — | — | — | — | — | — | — | 6,341 | 6,341 |
| Pension liability adjustments, net of income taxes | — | — | — | — | — | 2,629 | 2,629 | — | 2,629 |
| Foreign currency translation adjustment | — | — | — | — | — | (205) | (205) | — | (205) |
| Share-based compensation expense (equity classified) | — | — | 15,147 | — | — | — | 15,147 | — | 15,147 |
| Other, net | 6 | — | (868) | — | — | — | (862) | — | (862) |
| Balance at June 30, 2024 | $2,773 | $1,842 | $209,992 | $(606,907) | $(10) | $(6,784) | $(399,094) | $2,400 | $(396,694) |

See accompanying notes to consolidated financial statements.

7

**ALTICE USA, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIENCY (Continued)(In thousands) (Unaudited)**

| Line item | Class ACommon Stock | Class BCommon Stock | Paid-in Capital | Accumulated Deficit | Treasury Stock | Accumulated Other Comprehensive Income | Total Altice USAStockholder' Deficiency | Non-controlling Interests | Total Deficiency |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Balance at June 30, 2024 | $2,773 | $1,842 | $209,992 | $(606,907) | $(10) | $(6,784) | $(399,094) | $2,400 | $(396,694) |
| Net loss attributable to stockholders | — | — | — | (42,970) | — | — | (42,970) | — | (42,970) |
| Net income attributable to noncontrolling interests | — | — | — | — | — | — | — | 2,135 | 2,135 |
| Pension liability adjustments, net of income taxes | — | — | — | — | — | (943) | (943) | — | (943) |
| Foreign currency translation adjustment | — | — | — | — | — | 414 | 414 | — | 414 |
| Share-based compensation expense (equity classified) | — | — | 16,188 | — | — | — | 16,188 | — | 16,188 |
| Other, net | 6 | — | (713) | — | — | — | (707) | — | (707) |
| Balance at September 30, 2024 | $2,779 | $1,842 | $225,467 | $(649,877) | $(10) | $(7,313) | $(427,112) | $4,535 | $(422,577) |

See accompanying notes to consolidated financial statements.

8

**ALTICE USA, INC. AND SUBSIDIARIES**

### CONSOLIDATED STATEMENTS OF CASH FLOWS

_(In thousands) · (Unaudited)_

| Line item | Nine Months Ended September 30, 2025 | Nine Months Ended September 30, 2024 |
| --- | --- | --- |
| Cash flows from operating activities: |  |  |
| Net loss | $(1,781,212) | $(32,029) |
| Adjustments to reconcile net loss to net cash provided by operating activities: |  |  |
| Depreciation and amortization | 1,243,490 | 1,170,503 |
| Indefinite-lived cable franchise rights impairment | 1,611,308 | — |
| Gain on investments, sale of assets or sale of affiliate interests | (55,119) | (292) |
| Loss on extinguishment of debt and write-off of deferred financing costs | 1,693 | 7,035 |
| Amortization of deferred financing costs and discounts (premiums) on indebtedness | 15,802 | 15,470 |
| Share-based compensation expense | 43,628 | 50,351 |
| Deferred income taxes | (177,714) | (7,129) |
| Decrease in right-of-use assets | 33,708 | 33,729 |
| Allowance for credit losses | 47,624 | 68,433 |
| Other | 892 | 5,469 |
| Change in operating assets and liabilities, net of effects of acquisitions and dispositions: |  |  |
| Accounts receivable, trade | (42,578) | (24,721) |
| Prepaid expenses and other assets | (45,616) | (127,820) |
| Amounts due from and due to affiliates | (5,520) | (45,700) |
| Accounts payable and accrued liabilities | (143,007) | (106,529) |
| Interest payable | (65,746) | 16,990 |
| Deferred revenue | 58,700 | 8,589 |
| Interest rate swap contracts | 6,563 | 110,130 |
| Net cash provided by operating activities | 746,896 | 1,142,479 |
| Cash flows from investing activities: |  |  |
| Capital expenditures | (1,065,163) | (1,042,975) |
| Payments for acquisitions, net of cash acquired | (7,616) | (5,748) |
| Proceeds related to sale of equipment, net of costs of disposal | 62,729 | 3,399 |
| Additions to other intangible assets | (643) | (1,006) |
| Other, net | — | 350 |
| Net cash used in investing activities | (1,010,693) | (1,045,980) |
| Cash flows from financing activities: |  |  |
| Proceeds from long-term debt | 1,835,000 | 3,875,000 |
| Repayment of debt | (577,619) | (3,891,175) |
| Principal payments on finance lease obligations | (98,347) | (99,426) |
| Payment related to acquisition of noncontrolling interest | — | (7,261) |
| Additions to deferred financing costs | (65,937) | (18,936) |
| Distributions to noncontrolling interests | (26,452) | — |
| Other, net | (16,362) | (6,345) |
| Net cash provided by (used in) financing activities | 1,050,283 | (148,143) |
| Net increase (decrease) in cash and cash equivalents | 786,486 | (51,644) |
| Effect of exchange rate changes on cash and cash equivalents | 354 | (403) |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 786,840 | (52,047) |
| Cash, cash equivalents and restricted cash at beginning of year | 256,824 | 302,338 |
| Cash, cash equivalents and restricted cash at end of period | $1,043,664 | $250,291 |

See accompanying notes to consolidated financial statements.

9

**CSC HOLDINGS, LLC AND SUBSIDIARIESCONSOLIDATED BALANCE SHEETS(In thousands, except unit amounts)**

| Line item | September 30, 2025(Unaudited) | December 31, 2024 |
| --- | --- | --- |
| ASSETS |  |  |
| Current Assets: |  |  |
| Cash and cash equivalents | $927,598 | $246,326 |
| Restricted cash | 82,201 | 290 |
| Accounts receivable, trade (less allowance for credit losses of $23,635 and $24,232, respectively) | 327,727 | 332,271 |
| Prepaid expenses and other current assets ($1,821 and $905 due from affiliates, respectively) | 175,091 | 142,694 |
| Total current assets | 1,512,617 | 721,581 |
| Property, plant and equipment, net of accumulated depreciation of $9,562,268 and $8,762,014, respectively | 8,430,127 | 8,414,632 |
| Right-of-use operating lease assets | 248,673 | 248,013 |
| Other assets | 135,471 | 108,855 |
| Amortizable intangibles, net of accumulated amortization of $6,399,567 and $6,190,154, respectively | 764,506 | 960,805 |
| Indefinite-lived cable franchise rights | 11,600,000 | 13,211,308 |
| Goodwill | 8,041,217 | 8,041,217 |
| Total assets | $30,732,611 | $31,706,411 |

| LIABILITIES AND MEMBER'S DEFICIENCY / Current Liabilities: |  |  |
| --- | --- | --- |
| Accounts payable | $775,665 | $971,499 |
| Interest payable | 340,462 | 406,208 |
| Accrued employee related costs | 193,357 | 191,990 |
| Deferred revenue | 146,939 | 74,167 |
| Notes payable to affiliate (Note 14) | 84,500 | 90,500 |
| Debt | 95,214 | 185,473 |
| Other current liabilities ($21,555 and $26,944 due to affiliates, respectively) | 410,111 | 407,540 |
| Total current liabilities | 2,046,248 | 2,327,377 |
| Other liabilities | 261,043 | 255,683 |
| Deferred tax liability | 4,278,892 | 4,455,840 |
| Right-of-use operating lease liability | 256,266 | 255,116 |
| Long-term debt, net of current maturities | 26,142,404 | 24,872,015 |
| Total liabilities | 32,984,853 | 32,166,031 |
| Commitments and contingencies (Note 15) |  |  |
| Member's deficiency (100 membership units issued and outstanding) | (2,253,412) | (468,197) |
| Accumulated other comprehensive loss | (1,395) | (3,826) |
| Total member's deficiency | (2,254,807) | (472,023) |
| Noncontrolling interests | 2,565 | 12,403 |
| Total deficiency | (2,252,242) | (459,620) |
| Total liabilities and member's deficiency | $30,732,611 | $31,706,411 |

See accompanying notes to consolidated financial statements.

10

**CSC HOLDINGS, LLC AND SUBSIDIARIES**

### CONSOLIDATED STATEMENTS OF OPERATIONS

_(In thousands) · (Unaudited)_

| Line item | Three Months Ended September 30, 2025 | Three Months Ended September 30, 2024 | Nine Months Ended September 30, 2025 | Nine Months Ended September 30, 2024 |
| --- | --- | --- | --- | --- |
| Revenue (including revenue from affiliates of $18, $74, $179, and $386, respectively) (See Note 14) | $2,108,110 | $2,227,700 | $6,407,595 | $6,719,390 |
| Operating expenses: |  |  |  |  |
| Programming and other direct costs (including charges from affiliates of $1,676, $2,449, $4,217, and $8,951, respectively) (See Note 14) | 639,012 | 711,330 | 1,972,233 | 2,174,677 |
| Other operating expenses (including charges from affiliates of $13,604, $13,429, $39,066, and $34,188, respectively) (See Note 14) | 653,377 | 675,366 | 2,054,691 | 2,020,158 |
| Restructuring, impairments and other operating items (See Note 7) | 1,568,120 | 10,871 | 1,656,568 | 15,525 |
| Depreciation and amortization | 415,308 | 386,342 | 1,243,490 | 1,170,503 |
|  | 3,275,817 | 1,783,909 | 6,926,982 | 5,380,863 |
| Operating income | (1,167,707) | 443,791 | (519,387) | 1,338,527 |
| Other income (expense): |  |  |  |  |
| Interest expense, net | (460,506) | (448,228) | (1,335,999) | (1,328,324) |
| Gain on investments and sale of affiliate interests | — | — | 5 | 292 |
| Gain (loss) on interest rate swap contracts, net | 1,147 | (45,657) | (142) | 10,220 |
| Loss on extinguishment of debt and write-off of deferred financing costs | — | — | (1,693) | (7,035) |
| Other expense, net | (591) | (1,495) | (2,388) | (4,526) |
|  | (459,950) | (495,380) | (1,340,217) | (1,329,373) |
| Income (loss) before income taxes | (1,627,657) | (51,589) | (1,859,604) | 9,154 |
| Income tax benefit (expense) | 2,149 | 10,064 | 67,361 | (41,873) |
| Net loss | (1,625,508) | (41,525) | (1,792,243) | (32,719) |
| Net income attributable to noncontrolling interests | (3,944) | (2,135) | (16,614) | (16,773) |
| Net loss attributable to CSC Holdings, LLC sole member | $(1,629,452) | $(43,660) | $(1,808,857) | $(49,492) |

See accompanying notes to consolidated financial statements.

11

**CSC HOLDINGS, LLC AND SUBSIDIARIES**

### CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS

_(In thousands) · (Unaudited)_

| Line item | Three Months Ended September 30, 2025 | Three Months Ended September 30, 2024 | Nine Months Ended September 30, 2025 | Nine Months Ended September 30, 2024 |
| --- | --- | --- | --- | --- |
| Net loss | $(1,625,508) | $(41,525) | $(1,792,243) | $(32,719) |
| Other comprehensive income (loss): |  |  |  |  |
| Defined benefit pension plans | (127) | (1,293) | 2,844 | 8,141 |
| Applicable income taxes | 34 | 350 | (767) | (2,200) |
| Defined benefit pension plans, net of income taxes | (93) | (943) | 2,077 | 5,941 |
| Foreign currency translation adjustment | (530) | 414 | 354 | (403) |
| Other comprehensive income (loss) | (623) | (529) | 2,431 | 5,538 |
| Comprehensive loss | (1,626,131) | (42,054) | (1,789,812) | (27,181) |
| Comprehensive income attributable to noncontrolling interests | (3,944) | (2,135) | (16,614) | (16,773) |
| Comprehensive loss attributable to CSC Holdings, LLC sole member | $(1,630,075) | $(44,189) | $(1,806,426) | $(43,954) |

See accompanying notes to consolidated financial statements.

12

**CSC HOLDINGS, LLC AND SUBSIDIARIES**

### CONSOLIDATED STATEMENTS OF MEMBER'S DEFICIENCY

_(In thousands) · (Unaudited)_

| Line item | Member's Deficiency | Accumulated Other Comprehensive Loss | Total Member's Deficiency | Noncontrolling Interests | Total Deficiency |
| --- | --- | --- | --- | --- | --- |
| Balance at January 1, 2025 | $(468,197) | $(3,826) | $(472,023) | $12,403 | $(459,620) |
| Net loss attributable to CSC Holdings, LLC sole member | (78,122) | — | (78,122) | — | (78,122) |
| Net income attributable to noncontrolling interests | — | — | — | 4,405 | 4,405 |
| Pension liability adjustments, net of income taxes | — | (1,125) | (1,125) | — | (1,125) |
| Foreign currency translation adjustment | — | (54) | (54) | — | (54) |
| Share-based compensation expense (equity classified) | 11,587 | — | 11,587 | — | 11,587 |
| Cash distributions to parent, net | (8,547) | — | (8,547) | — | (8,547) |
| Balance at March 31, 2025 | (543,279) | (5,005) | (548,284) | 16,808 | (531,476) |
| Net loss attributable to CSC Holdings, LLC sole member | (101,283) | — | (101,283) | — | (101,283) |
| Net income attributable to noncontrolling interests | — | — | — | 8,265 | 8,265 |
| Pension liability adjustments, net of income taxes | — | 3,295 | 3,295 | — | 3,295 |
| Foreign currency translation adjustment | — | 938 | 938 | — | 938 |
| Share-based compensation expense (equity classified) | 12,054 | — | 12,054 | — | 12,054 |
| Distributions to non-controlling interests | — | — | — | (26,452) | (26,452) |
| Distributions to parent, net | (1,148) | — | (1,148) | — | (1,148) |
| Balance at June 30, 2025 | (633,656) | (772) | (634,428) | (1,379) | (635,807) |
| Net income attributable to CSC Holdings, LLC sole member | (1,629,452) | — | (1,629,452) | — | (1,629,452) |
| Net income attributable to noncontrolling interests | — | — | — | 3,944 | 3,944 |
| Pension liability adjustments, net of income taxes | — | (93) | (93) | — | (93) |
| Foreign currency translation adjustment | — | (530) | (530) | — | (530) |
| Share-based compensation expense (equity classified) | 9,696 | — | 9,696 | — | 9,696 |
| Balance at September 30, 2025 | $(2,253,412) | $(1,395) | $(2,254,807) | $2,565 | $(2,252,242) |

See accompanying notes to consolidated financial statements.

13

**CSC HOLDINGS, LLC AND SUBSIDIARIES**

### CONSOLIDATED STATEMENTS OF MEMBER'S DEFICIENCY (continued)

_(In thousands) · (Unaudited)_

| Line item | Member's Deficiency | Accumulated Other Comprehensive Loss | Total Member's Deficiency | Noncontrolling Interests | Total Deficiency |
| --- | --- | --- | --- | --- | --- |
| Balance at January 1, 2024 | $(412,836) | $(12,851) | $(425,687) | $(12,238) | $(437,925) |
| Net loss attributable to CSC Holdings, LLC sole member | (21,193) | — | (21,193) | — | (21,193) |
| Net income attributable to noncontrolling interests | — | — | — | 8,297 | 8,297 |
| Pension liability adjustments, net of income taxes | — | 4,255 | 4,255 | — | 4,255 |
| Foreign currency translation adjustment | — | (612) | (612) | — | (612) |
| Share-based compensation expense (equity classified) | 6,484 | — | 6,484 | — | 6,484 |
| Cash distributions to parent | (3,775) | — | (3,775) | — | (3,775) |
| Non-cash contributions from parent | 5,858 | — | 5,858 | — | 5,858 |
| Balance at March 31, 2024 | (425,462) | (9,208) | (434,670) | (3,941) | (438,611) |
| Net income attributable to CSC Holdings, LLC sole member | 15,361 | — | 15,361 | — | 15,361 |
| Net income attributable to noncontrolling interests | — | — | — | 6,341 | 6,341 |
| Pension liability adjustments, net of income taxes | — | 2,629 | 2,629 | — | 2,629 |
| Foreign currency translation adjustment | — | (205) | (205) | — | (205) |
| Share-based compensation expense (equity classified) | 15,147 | — | 15,147 | — | 15,147 |
| Cash distributions to parent | (863) | — | (863) | — | (863) |
| Balance at June 30, 2024 | (395,817) | (6,784) | (402,601) | 2,400 | (400,201) |
| Net income attributable to CSC Holdings, LLC sole member | (43,660) | — | (43,660) | — | (43,660) |
| Net income attributable to noncontrolling interests | — | — | — | 2,135 | 2,135 |
| Pension liability adjustments, net of income taxes | — | (943) | (943) | — | (943) |
| Foreign currency translation adjustment | — | 414 | 414 | — | 414 |
| Share-based compensation expense (equity classified) | 16,188 | — | 16,188 | — | 16,188 |
| Cash distributions to parent | (707) | — | (707) | — | (707) |
| Non-cash distributions to parent | (64) | — | (64) | — | (64) |
| Balance at September 30, 2024 | $(424,060) | $(7,313) | $(431,373) | $4,535 | $(426,838) |

See accompanying notes to consolidated financial statements.

14

**CSC HOLDINGS, LLC AND SUBSIDIARIES**

### CONSOLIDATED STATEMENTS OF CASH FLOWS

_(In thousands) · (Unaudited)_

| Line item | Nine Months Ended September 30, 2025 | Nine Months Ended September 30, 2024 |
| --- | --- | --- |
| Cash flows from operating activities: |  |  |
| Net loss | $(1,792,243) | $(32,719) |
| Adjustments to reconcile net loss to net cash provided by operating activities: |  |  |
| Depreciation and amortization | 1,243,490 | 1,170,503 |
| Indefinite-lived cable franchise rights impairment | 1,611,308 | — |
| Gain on investments, sale of assets or sale of affiliate interests | (55,119) | (292) |
| Loss on extinguishment of debt and write-off of deferred financing costs | 1,693 | 7,035 |
| Amortization of deferred financing costs and discounts (premiums) on indebtedness | 15,802 | 15,470 |
| Share-based compensation expense | 43,628 | 50,351 |
| Deferred income taxes | (177,714) | (4,857) |
| Decrease in right-of-use assets | 33,708 | 33,729 |
| Allowance for credit losses | 47,624 | 68,433 |
| Other | 892 | 5,469 |
| Change in operating assets and liabilities, net of effects of acquisitions and dispositions: |  |  |
| Accounts receivable, trade | (42,578) | (24,721) |
| Prepaid expenses and other assets | (43,433) | (145,355) |
| Amounts due from and due to affiliates | (6,262) | (46,762) |
| Accounts payable and accrued liabilities | (129,494) | (191,942) |
| Interest payable | (65,746) | 16,990 |
| Deferred revenue | 58,700 | 8,589 |
| Interest rate swap contracts | 6,563 | 110,130 |
| Net cash provided by operating activities | 750,819 | 1,040,051 |
| Cash flows from investing activities: |  |  |
| Capital expenditures | (1,065,163) | (1,042,975) |
| Payments for acquisitions, net of cash acquired | (7,616) | (5,748) |
| Proceeds related to sale of equipment, net of costs of disposal | 62,729 | 3,399 |
| Additions to other intangible assets | (643) | (1,006) |
| Other, net | — | 350 |
| Net cash used in investing activities | (1,010,693) | (1,045,980) |
| Cash flows from financing activities: |  |  |
| Proceeds from long-term debt | 1,835,000 | 3,875,000 |
| Repayment of debt | (583,619) | (3,891,175) |
| Proceeds from notes payable to affiliates | — | 92,500 |
| Distributions to parent | (9,738) | (5,345) |
| Principal payments on finance lease obligations | (98,347) | (99,426) |
| Payment related to acquisition of a noncontrolling interest | — | (7,261) |
| Additions to deferred financing costs | (65,937) | (18,936) |
| Other, net | (5,500) | (1,000) |
| Distributions to noncontrolling interests | (26,452) | — |
| Net cash provided by (used in) financing activities | 1,045,407 | (55,643) |
| Net increase (decrease) in cash and cash equivalents | 785,533 | (61,572) |
| Effect of exchange rate changes on cash and cash equivalents | 354 | (403) |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 785,887 | (61,975) |
| Cash, cash equivalents and restricted cash at beginning of year | 246,616 | 302,331 |
| Cash, cash equivalents and restricted cash at end of period | $1,032,503 | $240,356 |

See accompanying notes to consolidated financial statements.

15

ALTICE USA, INC. AND SUBSIDIARIES

COMBINED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Dollars in thousands, except share, unit and per share amounts)

(Unaudited)

### NOTE 1. DESCRIPTION OF BUSINESS AND RELATED MATTERS

The Company and Related Matters

Altice USA, Inc. ("Altice USA") was incorporated in Delaware on September 14, 2015. Altice USA is majority-owned by Patrick Drahi through Next Alt S.à r.l. ("Next Alt"). Patrick Drahi also controls Altice Group Lux S.à r.l, formerly Altice Europe N.V. ("Altice Europe") and its subsidiaries and other entities.

Altice USA, through CSC Holdings, LLC (a wholly-owned subsidiary of Cablevision Systems Corporation) and its consolidated subsidiaries ("CSC Holdings," and collectively with Altice USA, the "Company", "we", "us" and "our"), principally delivers broadband, video, and telephony services to residential and business customers, as well as proprietary content and advertising services in the United States. We market our residential services under the Optimum brand and provide enterprise services under the Lightpath and Optimum Business brands. In addition, we offer a full service mobile offering to consumers across our footprint. As these businesses are managed on a consolidated basis, we classify our operations in one segment.

The accompanying consolidated financial statements ("consolidated financial statements") of Altice USA include the accounts of Altice USA and its majority-owned subsidiaries and the accompanying consolidated financial statements of CSC Holdings include the accounts of CSC Holdings and its majority-owned subsidiaries. The consolidated balance sheets and statements of operations of Altice USA are essentially identical to the consolidated balance sheets and statements of operations of CSC Holdings, except for the assets and liabilities and results of operations associated with the wholly-owned subsidiary of Altice USA that provides insurance coverage to CSC Holdings ("Captive"), as well as additional cash and deferred tax liabilities at Altice USA. Additionally, CSC Holdings and its subsidiaries have certain intercompany receivables from and payables to Altice USA.

The combined notes to the consolidated financial statements relate to the Company, which, except as noted, are essentially identical for Altice USA and CSC Holdings. All significant intercompany transactions and balances between Altice USA and its respective consolidated subsidiaries are eliminated in Altice USA's consolidated financial statements. All significant intercompany transactions and balances between CSC Holdings and its respective consolidated subsidiaries are eliminated in CSC Holdings' consolidated financial statements. Intercompany transactions between Altice USA and CSC Holdings are not eliminated in the CSC Holdings consolidated financial statements, but are eliminated in the Altice USA consolidated financial statements.

The financial statements of CSC Holdings are included herein as supplemental information as CSC Holdings is not a Securities and Exchange Commission registrant.

### NOTE 2. BASIS OF PRESENTATION

The accompanying unaudited consolidated financial statements of the Company have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") and with the instructions to Form 10-Q and Article 10 of Regulation S-X for interim financial information. Accordingly, these financial statements do not include all the information and notes required for complete annual financial statements.

The interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2024.

The financial statements presented in this report are unaudited; however, in the opinion of management, such financial statements include all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of the results for the periods presented.

The results of operations for the interim periods are not necessarily indicative of the results that might be expected for future interim periods or for the full year ending December 31, 2025.

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. See Note 11 for a discussion of fair value estimates.

16

ALTICE USA, INC. AND SUBSIDIARIES

COMBINED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

(Dollars in thousands, except share, unit and per share amounts)

(Unaudited)

### NOTE 3. ACCOUNTING STANDARDS

Recently Issued But Not Yet Adopted Accounting Pronouncements

ASU No. 2025-06 Intangibles—Goodwill and Other—Internal-Use Software

In September 2025, the Financial Accounting Standards Board ("FASB") issued Accounting Standard Update ("ASU") 2025-06 Intangibles—Goodwill and Other—Internal-Use Software related to accounting for internal-use software costs. The amendments in this update improve the operability of the guidance by removing all references to software development project stages so that the guidance is neutral to different software development methods. ASU 2025-06 becomes effective for annual periods beginning after December 15, 2027 (January 1, 2028 for us), including interim periods within those fiscal years, though early adoption is permitted. We are currently evaluating the impact of adopting ASU 2025-06 on our consolidated financial statements and related disclosures.

ASU No. 2024-03 Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures

In November 2024, the FASB issued ASU No. 2024-03 Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures, which requires disaggregated disclosures of certain categories of expenses on an annual and interim basis. ASU 2024-03 becomes effective for annual reporting periods beginning after December 15, 2026 (January 1, 2027 for us), and interim reporting periods beginning after December 15, 2027 (January 1, 2028 for us). We are currently evaluating the impact of adopting ASU 2024-03 on our consolidated financial statements and related disclosures, but we expect the adoption will result in additional disaggregation of expense captions within our footnote disclosures.

ASU No. 2023-09 Income Taxes—Improvements to Income Tax Disclosures

In December 2023, the FASB issued ASU No. 2023-09, Income Taxes—Improvements to Income Tax Disclosures, which requires greater disaggregation of income tax disclosures related to the income tax rate reconciliation and income taxes paid. ASU No. 2023-09 is effective for us for the fiscal year ending December 31, 2025. We are currently evaluating the impact of adopting ASU No. 2023-09, but we expect additional disclosure disaggregation in our income tax footnote.

### NOTE 4. REVENUE

The following table presents the composition of revenue:

| Line item | Three Months Ended September 30, 2025 | Three Months Ended September 30, 2024 | Nine Months Ended September 30, 2025 | Nine Months Ended September 30, 2024 |
| --- | --- | --- | --- | --- |
| Residential: |  |  |  |  |
| Broadband | $873,449 | $913,417 | $2,658,149 | $2,745,400 |
| Video | 645,207 | 715,117 | 1,971,315 | 2,210,156 |
| Telephony | 61,791 | 69,877 | 192,836 | 212,545 |
| Mobile | 42,277 | 30,563 | 116,597 | 82,935 |
| Residential revenue | 1,622,724 | 1,728,974 | 4,938,897 | 5,251,036 |
| Business services and wholesale | 361,886 | 366,355 | 1,087,219 | 1,100,506 |
| News and advertising | 105,863 | 117,682 | 327,044 | 328,687 |
| Other | 17,637 | 14,689 | 54,435 | 39,161 |
| Total revenue | $2,108,110 | $2,227,700 | $6,407,595 | $6,719,390 |

17

ALTICE USA, INC. AND SUBSIDIARIES

COMBINED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

(Dollars in thousands, except share, unit and per share amounts)

(Unaudited)

We are assessed non-income related taxes by governmental authorities, including franchising authorities (generally under multi-year agreements), and collect such taxes from our customers. In instances where the tax is being assessed directly on us, amounts paid to the governmental authorities are recorded as programming and other direct costs and amounts received from the customers are recorded as revenue. For the three and nine months ended September 30, 2025, the amount of franchise fees and certain other taxes and fees included as a component of revenue aggregated $49,905 and $152,060, respectively. For the three and nine months ended September 30, 2024, the amount of franchise fees and certain other taxes and fees included as a component of revenue aggregated $52,510 and $160,664, respectively.

#### Customer Contract Costs

Deferred enterprise sales commission costs are included in other current and noncurrent assets in the consolidated balance sheets and totaled $21,125 and $19,743 as of September 30, 2025 and December 31, 2024, respectively.

A significant portion of our revenue is derived from residential and small and medium-sized business ("SMB") customer contracts which are month-to-month. As such, the amount of revenue related to unsatisfied performance obligations is not necessarily indicative of the future revenue to be recognized from our existing customer base. Contracts with enterprise customers generally range from three years to five years, and services may only be terminated in accordance with the contractual terms.

Concentration of Credit Risk

We did not have a single customer that represented 10% or more of our consolidated revenues for the three and nine months ended September 30, 2025 and 2024 or 10% or more of our consolidated net trade receivables at September 30, 2025 and December 31, 2024, respectively.

### NOTE 5. NET INCOME (LOSS) PER SHARE

Basic net income (loss) per common share attributable to Altice USA stockholders is computed by dividing net income (loss) attributable to Altice USA stockholders by the weighted average number of common shares outstanding during the period. Diluted income per common share attributable to Altice USA stockholders reflects the dilutive effects of stock options, restricted stock, restricted stock units, and deferred cash-denominated awards. For awards that are performance based, the dilutive effect is reflected upon the achievement of the performance criteria. In periods with reported net losses attributable to Altice USA stockholders, share-based awards are anti-dilutive and excluded from the calculation of diluted loss per share.

Net income (loss) per membership unit for CSC Holdings is not presented since CSC Holdings is a limited liability company and a wholly-owned subsidiary of Altice USA.

18

ALTICE USA, INC. AND SUBSIDIARIES

COMBINED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

(Dollars in thousands, except share, unit and per share amounts)

(Unaudited)

### NOTE 6. SUPPLEMENTAL CASH FLOW INFORMATION

Our non-cash investing and financing activities and other supplemental data were as follows:

| Line item | Nine Months Ended September 30, 2025 | Nine Months Ended September 30, 2024 |
| --- | --- | --- |
| Non-Cash Investing and Financing Activities: |  |  |
| Altice USA and CSC Holdings: |  |  |
| Capital expenditures accrued but unpaid | $255,388 | $351,896 |
| Notes payable issued for the purchase of equipment and other assets | — | 50,642 |
| Right-of-use assets acquired in exchange for finance lease obligations | 40,831 | 28,708 |
| Additions to other intangible assets | 12,147 | — |
| Other non-cash investing and financing transactions | 98 | — |
| Supplemental Data: |  |  |
| Altice USA and CSC Holdings: |  |  |
| Cash interest paid, net of capitalized interest of $— and $2,720, respectively | 1,395,503 | 1,301,935 |
| Income taxes paid, net | 107,532 | 211,151 |
| CSC Holdings: |  |  |
| Cash interest paid relating to a note payable to Captive (see Note 14) | 3,962 | — |

Reconciliation of cash, cash equivalents and restricted cash :

| Line item | September 30, 2025 | September 30, 2024 |
| --- | --- | --- |
| Altice USA: |  |  |
| Cash and cash equivalents | $938,759 | $250,001 |
| Restricted cash, short-term (see Note 9) | 82,201 | 290 |
| Restricted cash, long-term, included within the line item “other assets” (see Note 9) | 22,704 | — |
| Total cash, cash equivalents and restricted cash | $1,043,664 | $250,291 |

| Line item | September 30, 2025 | September 30, 2024 |
| --- | --- | --- |
| CSC Holdings: |  |  |
| Cash and cash equivalents | $927,598 | $240,066 |
| Restricted cash, short-term (see Note 9) | 82,201 | 290 |
| Restricted cash, long-term, included within the line item “other assets” (see Note 9) | 22,704 | — |
| Total cash, cash equivalents and restricted cash | $1,032,503 | $240,356 |

19

ALTICE USA, INC. AND SUBSIDIARIES

COMBINED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

(Dollars in thousands, except share, unit and per share amounts)

(Unaudited)

### NOTE 7. RESTRUCTURING, IMPAIRMENTS AND OTHER OPERATING ITEMS

Our restructuring, impairments and other operating items are comprised of the following:

| Line item | Three Months Ended September 30, 2025 | Three Months Ended September 30, 2024 | Nine Months Ended September 30, 2025 | Nine Months Ended September 30, 2024 |
| --- | --- | --- | --- | --- |
| Impairment charge (a) | $1,611,308 | — | $1,611,308 | — |
| Litigation settlements and contract termination costs (b) (c) | — | — | 5,058 | (17,826) |
| Gain on disposal of assets (d) | (55,114) | — | (55,114) | — |
| Contractual payments for terminated employees (e) | 7,155 | 4,598 | 77,543 | 16,460 |
| Facility realignment costs | 258 | 718 | 1,090 | 4,265 |
| Impairment of right-of-use operating lease assets | 439 | 1,629 | 1,765 | 4,591 |
| Transaction costs and other | 4,074 | 3,926 | 14,918 | 8,035 |
|  | $1,568,120 | $10,871 | $1,656,568 | $15,525 |

(a)See Note 8 for a discussion of the impairment charge related to our indefinite-lived cable franchise rights.

(b)Amounts for the 2025 periods reflect estimated amounts for certain legal matters, including adjustments to these estimates, and costs to early terminate contracts with vendors.

(c)Amount for the nine months ended September 30, 2024 includes a credit resulting from the waiver of a payment obligation in June 2024 related to a patent infringement settlement agreement reached in the fourth quarter of 2022 and a credit resulting from the indemnification from a supplier related to this matter. Offsetting these credits was an expense, net of insurance recoveries, in connection with the settlement of other significant litigation and costs to early terminate contracts with vendors.

(d)In July 2025, we completed the sale of certain tower assets for $59,908 and recorded a gain of $55,114. In connection with the sale, we entered into a master license agreement with the buyer pursuant to which we maintain access to space on certain of those towers for an initial term of five years.

(e)Includes costs related to our workforce management initiatives, including costs related to a voluntary retirement program.

### NOTE 8. GOODWILL AND INTANGIBLE ASSETS

Our amortizable intangible assets primarily consist of customer relationships acquired pursuant to business combinations and represent the value of the business relationship with those customers.

The following table summarizes information relating to our acquired amortizable intangible assets:

| Line item | As of September 30, 2025 / Gross Carrying Amount | As of September 30, 2025 / Accumulated Amortization | As of September 30, 2025 / Net Carrying Amount | As of December 31, 2024 / Gross Carrying Amount | As of December 31, 2024 / Accumulated Amortization | As of December 31, 2024 / Net Carrying Amount | Estimated Useful Lives |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Customer relationships | $6,089,374 | $(5,344,104) | $745,270 | $6,089,050 | $(5,137,180) | $951,870 | 1 to 18 years |
| Trade names | 1,010,000 | (1,010,000) | — | 1,010,000 | (1,010,000) | — | 4 to 7 years |
| Other amortizable intangibles | 64,699 | (45,463) | 19,236 | 51,909 | (42,974) | 8,935 | 1 to 15 years |
|  | $7,164,073 | $(6,399,567) | $764,506 | $7,150,959 | $(6,190,154) | $960,805 |  |

Amortization expense for the three and nine months ended September 30, 2025 aggregated $63,023 and $209,412, respectively, and $73,264 and $240,372 for the three and nine months ended September 30, 2024, respectively.

The carrying amount of indefinite-lived cable television franchises and goodwill is presented below:

20

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COMBINED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

(Dollars in thousands, except share, unit and per share amounts)

(Unaudited)

| Line item | Indefinite-lived Cable Franchise Rights | Goodwill |
| --- | --- | --- |
| Balance as of December 31, 2024 | $13,211,308 | $8,041,217 |
| Impairment charge | (1,611,308) | — |
| Balance as of September 30, 2025 | $11,600,000 | $8,041,217 |

Goodwill and the value of indefinite-lived cable franchises acquired in business combinations are not amortized. Rather, such assets are tested for impairment annually as of October 1, or whenever events or changes in circumstances indicate that it is more likely than not that the assets may be impaired. A deterioration in the Company’s operating performance, projected future performance or broader macro-economic conditions could be a triggering event that would require testing and may result in an impairment charge prior to the annual testing date.

During the three months ended September 30, 2025, we completed our annual long-term plan, which reflected a decline in estimated future cash flows. Management concluded that this was a triggering event and a quantitative impairment test of our indefinite-lived cable franchise rights was performed as of September 30, 2025.

As a result of our quantitative impairment test, we recorded a non-cash impairment charge of $1,611,308 related to our indefinite-lived cable franchise rights for the three months ended September 30, 2025. These intangible assets represent contractual rights to operate cable systems in specific geographic areas. The decline in the estimated fair value of our indefinite-lived franchise rights was attributable to updated long-term financial projections, that reflected a reduction in estimated future cash flows as a result of the sustained competitive environment and macroeconomic conditions. The impairment analysis was conducted using a discounted cash flow methodology, which incorporated updated projections of future cash flows, growth rates, and discount rates consistent with current market assumptions. If we experience a significant decrease in cash flows from new customers, then we may incur future non-cash impairment charges on our indefinite-lived cable franchise rights. This charge is included in "Restructuring, impairments and other operating items" in the consolidated statement of operations and did not impact our cash flow or liquidity.

21

ALTICE USA, INC. AND SUBSIDIARIES

COMBINED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

(Dollars in thousands, except share, unit and per share amounts)

(Unaudited)

### NOTE 9. DEBT

The following table provides details of our outstanding debt:

| Date Issued | Maturity Date | Interest Rate at September 30, 2025 | September 30, 2025 / Principal Amount | September 30, 2025 / Carrying Amount (a) | December 31, 2024 / Principal Amount | December 31, 2024 / Carrying Amount (a) |
| --- | --- | --- | --- | --- | --- | --- |
| CSC Holdings Senior Notes: |  |  |  |  |  |  |
| October 18, 2018 | April 1, 2028 | 7.500% | $4,118 | $4,116 | $4,118 | $4,115 |
| November 27, 2018 | April 1, 2028 | 7.500% | 1,045,882 | 1,045,287 | 1,045,882 | 1,045,130 |
| July 10 and October 7, 2019 | January 15, 2030 | 5.750% | 2,250,000 | 2,269,213 | 2,250,000 | 2,272,150 |
| June 16 and August 17, 2020 | December 1, 2030 | 4.625% | 2,325,000 | 2,351,562 | 2,325,000 | 2,354,856 |
| May 13, 2021 | November 15, 2031 | 5.000% | 500,000 | 498,804 | 500,000 | 498,681 |
|  |  |  | 6,125,000 | 6,168,982 | 6,125,000 | 6,174,932 |
| CSC Holdings Senior Guaranteed Notes: |  |  |  |  |  |  |
| September 23, 2016 | April 15, 2027 | 5.500% | 1,310,000 | 1,308,876 | 1,310,000 | 1,308,363 |
| January 29, 2018 | February 1, 2028 | 5.375% | 1,000,000 | 997,567 | 1,000,000 | 996,853 |
| January 31, 2019 | February 1, 2029 | 6.500% | 1,750,000 | 1,748,680 | 1,750,000 | 1,748,423 |
| June 16, 2020 | December 1, 2030 | 4.125% | 1,100,000 | 1,097,282 | 1,100,000 | 1,096,940 |
| August 17, 2020 | February 15, 2031 | 3.375% | 1,000,000 | 998,102 | 1,000,000 | 997,864 |
| May 13, 2021 | November 15, 2031 | 4.500% | 1,500,000 | 1,496,445 | 1,500,000 | 1,496,075 |
| April 25, 2023 | May 15, 2028 | 11.250% | 1,000,000 | 996,082 | 1,000,000 | 995,174 |
| January 25, 2024 | January 31, 2029 | 11.750% | 2,050,000 | 2,036,193 | 2,050,000 | 2,033,786 |
|  |  |  | 10,710,000 | 10,679,227 | 10,710,000 | 10,673,478 |
| CSC Holdings Restricted Group Credit Facility: |  |  |  |  |  |  |
| Revolving Credit Facility (b) | July 13, 2027 | 6.500% | 2,125,000 | 2,123,268 | 1,700,000 | 1,697,559 |
| Incremental Term Loan B-5 (c) | April 15, 2027 | 8.750% | 2,835,000 | 2,829,500 | 2,857,500 | 2,849,460 |
| Incremental Term Loan B-6 (d) | January 15, 2028 | 8.650% | 1,951,894 | 1,928,539 | 1,966,908 | 1,936,863 |
|  |  |  | 6,911,894 | 6,881,307 | 6,524,408 | 6,483,882 |
| Lightpath Senior Notes: |  |  |  |  |  |  |
| September 29, 2020 | September 15, 2028 | 5.625% | 415,000 | 411,124 | 415,000 | 410,249 |
| Lightpath Senior Secured Notes: |  |  |  |  |  |  |
| September 29, 2020 | September 15, 2027 | 3.875% | 450,000 | 446,940 | 450,000 | 445,836 |
| Lightpath Term Loan (e) | November 30, 2027 | 7.150% | 670,868 | 668,645 | 676,000 | 673,107 |
| Lightpath Revolving Credit Facility (f) |  |  | — | — | — | — |
|  |  |  | 1,535,868 | 1,526,709 | 1,541,000 | 1,529,192 |
| Receivables Facility Loan: |  |  |  |  |  |  |
| July 16, 2025 | January 16, 2031 | 8.875% | 996,167 | 893,547 | — | — |
| Finance lease obligations |  |  | 87,846 | 87,846 | 145,362 | 145,362 |
| Supply chain financing |  |  | — | — | 50,642 | 50,642 |
|  |  |  | 26,366,775 | 26,237,618 | 25,096,412 | 25,057,488 |
| Less: current portion of credit facility debt |  |  | (56,762) | (56,762) | (57,061) | (57,061) |
| Less: current portion of receivables facility loan |  |  | (20,000) | (20,000) | — | — |
| Less: current portion of finance lease obligations |  |  | (18,452) | (18,452) | (77,770) | (77,770) |
| Less: current portion of supply chain financing |  |  | — | — | (50,642) | (50,642) |
|  |  |  | (95,214) | (95,214) | (185,473) | (185,473) |
| Long-term debt |  |  | $26,271,561 | $26,142,404 | $24,910,939 | $24,872,015 |

(a)The carrying amount is net of the unamortized deferred financing costs and discounts/premiums, as applicable.

22

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COMBINED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

(Dollars in thousands, except share, unit and per share amounts)

(Unaudited)

(b)At September 30, 2025, $161,514 of the revolving credit facility was restricted for certain letters of credit issued on our behalf and $188,486 of the $2,475,000 facility was undrawn and available, subject to covenant limitations. The revolving credit facility bears interest at a rate of Secured Overnight Financing Rate ("SOFR") (plus a credit adjustment spread of 0.10%) plus 2.25% per annum.

(c)Incremental Term Loan B-5 requires quarterly installments of $7,500 and bore interest at a rate equal to Synthetic USD London Interbank Offered Rate ("LIBOR") plus 2.50% per annum through March 31, 2025. Thereafter, we are required to pay interest at a rate equal to the alternate base rate (“ABR”), plus the applicable margin, where the ABR is the greater of (x) prime rate or (y) the federal funds effective rate plus 50 basis points, and the applicable margin for any ABR loan is 1.50% per annum.

(d)Incremental Term Loan B-6 requires quarterly installments of $5,005 and bears interest at a rate equal to SOFR plus 4.50% per annum.

(e)See discussion below under "Lightpath Credit Facility" regarding the Refinancing Amendment.

(f)At September 30, 2025, $18,538 of the revolving credit facility was restricted for certain letters of credit issued on Lightpath's behalf and $96,462 of the $115,000 in revolving loan commitments were undrawn and available, subject to covenant limitations.

For financing purposes, we have three debt silos: CSC Holdings, Lightpath and NYC ABS (defined below). The CSC Holdings silo is structured as a restricted group (the "CSC Holdings Restricted Group") and an unrestricted group, which includes certain designated subsidiaries. The CSC Holdings Restricted Group is comprised of CSC Holdings and substantially all of its wholly-owned operating subsidiaries excluding Cablevision Lightpath and certain of its designated subsidiaries, and Cablevision Funding and certain special-purpose entities formed or transferred to Cablevision Funding in connection with the Loan and Security Agreement (defined below). These CSC Holdings Restricted Group subsidiaries are subject to the covenants and restrictions of CSC Holdings' credit facility and indentures governing the notes issued by CSC Holdings. The Lightpath silo includes all of its operating subsidiaries which are subject to the covenants and restrictions of the Lightpath credit facility and indentures governing the notes issued by Lightpath. The NYC ABS silo consists of special-purpose entities that hold, among other things, certain receivables generated by our Bronx and Brooklyn service area and network assets located in that area, and is subject to covenants and restrictions set forth in the Loan and Security Agreement.

#### CSC Holdings Revolving Credit Facility

During the nine months ended September 30, 2025, CSC Holdings borrowed $875,000 under its revolving credit facility and repaid $450,000 of amounts outstanding under its revolving credit facility.

#### Lightpath Credit Facility

Lightpath is party to an amended credit agreement (the "Amended Credit Agreement") which provides a term loan in an aggregate principal amount of $676,000 ($670,868 outstanding at September 30, 2025) and revolving loan commitments (the "Lightpath Revolving Credit Facility") in an aggregate principal amount of $115,000.

Under the Amended Credit Agreement, $95,000 of the aggregate principal amount of the Lightpath Revolving Credit Facility will mature on the earlier of (i) June 15, 2027 and (ii) the date that is five business days after any Extension Breach Date, and the remaining $20,000 of the Lightpath Revolving Credit Facility will mature on November 30, 2025 (as defined in the Amended Credit Agreement).

In January 2025, Lightpath entered into a refinancing amendment (the "Refinancing Amendment") to its Amended Credit Agreement, which refinanced all of the term loans outstanding immediately prior to giving effect to the Refinancing Amendment in order to reduce the applicable margins with respect thereto from (i) with respect to any alternate base rate loan, 2.25% per annum to 2.00% per annum and (ii) with respect to any Term SOFR loan, 3.25% per annum to 3.00%. Additionally, after giving effect to the Refinancing Amendment, interest on borrowings made under the refinanced term loan facility are calculated without giving effect to the spread adjustments (0.11448%, 0.26161% and 0.42826% for interest periods of one, three and six months, respectively) initially provided for under the Amended Credit Agreement.

23

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COMBINED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

(Dollars in thousands, except share, unit and per share amounts)

(Unaudited)

#### NYC ABS Loan and Security Agreement

On July 16, 2025, Cablevision Funding LLC ("Cablevision Funding"), a newly formed, bankruptcy remote, indirect wholly owned subsidiary of the Company, entered into an asset-backed security transaction (the “NYC ABS”), in accordance with a receivables facility loan and security agreement, by and among Cablevision Funding, certain guarantors party thereto (collectively, the "Guarantors"), Goldman Sachs Bank USA and certain funds managed by TPG Angelo Gordon, as initial lenders, Goldman Sachs Bank USA and TPG Angelo Gordon, as structuring agents, Alter Domus (US) LLC, as administrative agent, and Citibank, N.A., as collateral agent (the “Collateral Agent”) and account bank (the "Loan and Security Agreement"). The obligations under the Loan and Security Agreement are secured by substantially all of the assets of Cablevision Funding and its subsidiary, Cablevision Systems New York City LLC (“NYC AssetCo”), and the Guarantors, consisting of, among other things, certain receivables generated by our Bronx and Brooklyn service area and network assets located in that area.

The Loan and Security Agreement provides for, among other things, initial term loan commitments in an aggregate principal amount of $1,000,000, issued with an original issue discount of 400 basis points. The loans made pursuant to the initial term loan commitments (the "Initial Term Loans") will (i) mature on January 16, 2031; (ii) accrue interest at a fixed rate per annum equal to 8.875%; and (iii) amortize monthly at a rate of 2.0% per annum, up to and including January 15, 2028, and 5.0% per annum thereafter. The proceeds from the Initial Term Loans (after original issue discount, fees and other deferred financing costs) amounted to $894,063, of which a portion was used to fund Cablevision Funding’s interest reserve account with the minimum interest reserve amount in accordance with the terms of the Loan and Security Agreement, and pay certain costs associated with the transactions. The remaining proceeds are being used to finance working capital, to prepay indebtedness and for other general corporate purposes.

Pursuant to the terms of the Loan and Security Agreement, restricted cash is held in bank accounts controlled by the Collateral Agent for the purpose of paying interest, certain fees and scheduled principal and for satisfying the required liquidity reserve amounts. As of September 30, 2025, in blocked accounts under the Loan and Security Agreement, we had short-term restricted cash of $81,908 and long-term restricted cash of $22,704.

#### Debt Compliance

As of September 30, 2025, CSC Holdings and Lightpath were in compliance with applicable financial covenants under their respective credit facilities and with applicable financial covenants under each respective indenture by which the senior guaranteed notes, senior secured notes and senior notes were issued. As of September 30, 2025, Cablevision Funding was in compliance with all applicable covenants under the Loan and Security Agreement.

Summary of Debt Maturities

The future principal payments under our various debt obligations outstanding as of September 30, 2025, excluding finance lease obligations, are as follows:

|  |  |
| --- | --- |
| 2025 | $19,190 |
| 2026 | 76,762 |
| 2027 | 7,384,960 |
| 2028 (a) | 5,420,183 |
| 2029 | 3,850,000 |
| Thereafter | 9,527,834 |

(a)Includes $1,906,850 principal amount related to the CSC Holdings' Incremental Term Loan B-6 that is due on the earlier of (i) January 15, 2028 and (ii) April 15, 2027 if, as of such date, any Incremental Term Loan B-5 borrowings are still outstanding, unless the Incremental Term Loan B-5 maturity date has been extended to a date falling after January 15, 2028.

### NOTE 10. DERIVATIVE CONTRACTS

#### Interest Rate Swap Contracts

To manage interest rate risk, we have from time to time entered into interest rate swap contracts to adjust the proportion of total debt that is subject to variable and fixed interest rates. Such contracts effectively fix the borrowing rates on floating rate debt to provide an economic hedge against the risk of rising rates and effectively convert fixed

24

ALTICE USA, INC. AND SUBSIDIARIES

COMBINED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

(Dollars in thousands, except share, unit and per share amounts)

(Unaudited)

rate borrowings to variable rates to permit us to realize lower interest expense in a declining interest rate environment. We monitor the financial institutions that are counterparties to our interest rate swap contracts and we only enter into interest rate swap contracts with financial institutions that are rated investment grade. All such contracts are not designated as hedges for accounting purposes and are carried at their fair market values on our consolidated balance sheets, with changes in fair value reflected in the consolidated statements of operations.

The following represents the location of the assets associated with our derivative instruments within the consolidated balance sheets:

| Derivatives Not Designated as Hedging Instruments | Balance Sheet Location | Fair Value at / September 30, 2025 | Fair Value at / December 31, 2024 |
| --- | --- | --- | --- |
| Asset Derivatives: |  |  |  |
| Interest rate swap contracts | Other assets, long-term | $2,414 | $8,466 |
| Liability Derivatives: |  |  |  |
| Interest rate swap contracts | Other liabilities, long-term | $511 | — |

The following table presents the gain (loss) related to our derivative contracts:

| Line item | Three Months Ended September 30, 2025 | Three Months Ended September 30, 2024 | Nine Months Ended September 30, 2025 | Nine Months Ended September 30, 2024 |
| --- | --- | --- | --- | --- |
| Gain (loss) on interest rate swap contracts, net | $1,147 | $(45,657) | $(142) | $10,220 |

Interest Rate Swap Contracts

The following is a summary of the terms of our outstanding interest rate swap contracts at September 30, 2025:

| Maturity Date | Notional Amount | Company Pays | Company Receives |
| --- | --- | --- | --- |
| Lightpath: |  |  |  |
| December 2026 | $300,000 | Fixed rate of 2.11% | One-month SOFR |
| December 2026 | 180,000 | Fixed rate of 3.523% | One-month SOFR |
| December 2026 | 95,000 | Fixed rate of 3.979% | One-month SOFR |

### NOTE 11. FAIR VALUE MEASUREMENT

The fair value hierarchy is based on inputs to valuation techniques that are used to measure fair value that are either observable or unobservable. Observable inputs reflect assumptions market participants would use in pricing an asset or liability based on market data obtained from independent sources while unobservable inputs reflect a reporting entity's pricing based upon their own market assumptions. The fair value hierarchy consists of the following three levels:

- Level I - Quoted prices for identical instruments in active markets.
- Level II - Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value drivers are observable.
- Level III - Instruments whose significant value drivers are unobservable.

The following table presents our financial assets and financial liabilities that are measured at fair value on a recurring basis and their classification under the fair value hierarchy:

25

ALTICE USA, INC. AND SUBSIDIARIES

COMBINED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

(Dollars in thousands, except share, unit and per share amounts)

(Unaudited)

| Line item | Fair Value Hierarchy | September 30, 2025 | December 31, 2024 |
| --- | --- | --- | --- |
| Assets: |  |  |  |
| Money market funds (a) | Level I | $867,888 | $158,648 |
| Interest rate swap contracts | Level II | 2,414 | 8,466 |
| Liabilities: |  |  |  |
| Interest rate swap contracts | Level II | 511 | — |
| Contingent consideration related to acquisitions | Level III | 5,542 | 6,974 |

(a)Money market funds at CSC Holdings amounted to $860,203 and $151,205 as of September 30, 2025 and December 31, 2024, respectively.

Our money market funds which are classified as cash equivalents are classified within Level I of the fair value hierarchy because they are valued using quoted market prices.

The interest rate swap contracts on our consolidated balance sheets are valued using market-based inputs to valuation models. These valuation models require a variety of inputs, including contractual terms, market prices, yield curves, and measures of volatility. When appropriate, valuations are adjusted for various factors such as liquidity, bid/offer spreads and credit risk considerations. Such adjustments are generally based on available market evidence. Since model inputs can generally be verified and do not involve significant management judgment, we have concluded that these instruments should be classified within Level II of the fair value hierarchy.

The carrying values of cash, accounts receivable, accounts payable, and accrued expenses approximate their fair value due to the short-term maturity of these instruments.

The fair value of the contingent consideration as of September 30, 2025 and December 31, 2024 related to certain acquisitions was determined using a probability assessment of the contingent payment for the respective periods.

Fair Value of Financial Instruments

The following methods and assumptions were used to estimate fair value of each class of financial instruments for which it is practicable to estimate:

Credit Facility Debt, Senior Notes, Senior Guaranteed Notes, Senior Secured Notes and Supply Chain Financing

The fair values of each of our debt instruments are based on quoted market prices of these instruments. The carrying value of outstanding amounts related to supply chain financing agreements approximates the fair value due to their short-term maturity (less than one year).

Receivables Facility Loan

The fair value of the receivables loan facility is based on Level 3 inputs, as this facility is not actively traded and was determined using a discounted cash flow ("DCF") model. This model estimates the present value of the expected future interest and principal payments under the terms of the receivables loan facility.

The carrying values, estimated fair values, and classification under the fair value hierarchy of our financial instruments, excluding those that are carried at fair value in the accompanying consolidated balance sheets, are summarized below:

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ALTICE USA, INC. AND SUBSIDIARIES

COMBINED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

(Dollars in thousands, except share, unit and per share amounts)

(Unaudited)

| Line item | Fair Value Hierarchy | September 30, 2025 / Carrying Amount (a) | September 30, 2025 / Estimated Fair Value | December 31, 2024 / Carrying Amount (a) | December 31, 2024 / Estimated Fair Value |
| --- | --- | --- | --- | --- | --- |
| Credit facility debt | Level II | $7,549,952 | $7,582,762 | $7,156,989 | $7,200,408 |
| Receivables facility loan | Level III | 893,547 | 1,006,077 | — | — |
| Senior guaranteed notes and senior secured notes | Level II | 11,126,167 | 8,813,850 | 11,119,314 | 9,503,825 |
| Senior notes | Level II | 6,580,106 | 3,018,075 | 6,585,181 | 3,825,788 |
| Supply chain financing | Level II | — | — | 50,642 | 50,642 |
|  |  | $26,149,772 | $20,420,764 | $24,912,126 | $20,580,663 |

(a)Amounts are net of unamortized deferred financing costs and discounts/premiums.

The table above excludes the estimated fair value of CSC Holding's note payable to Captive of $84,500, as it is eliminated in the Altice USA consolidated financial statements (see Note 14). The carrying value of the note payable approximates fair value due to its short-term maturity (less than one year).

The fair value estimates related to our debt instruments presented above are made at a specific point in time, based on relevant market information and information about the financial instrument. These estimates are subjective in nature and involve uncertainties and matters of significant judgments and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates.

### NOTE 12. INCOME TAXES

Our provision for income taxes during interim reporting periods has historically been calculated by applying an estimate of the annual effective tax rate (“AETR”) for the full year to pretax income (loss) excluding certain discrete items for the reporting period. For the third quarter of 2025, and in accordance with Accounting Standards Codification 740, we computed our provision for income taxes based on the actual effective tax rate for the year-to-date period by applying the discrete method. We determined that the historical method would not provide a reliable estimate for the third quarter of 2025 because small changes in estimated ordinary income for full year 2025 would result in a significant change in the AETR. We believe that the use of this discrete method represents the best estimate of our annual effective tax rate.

Altice USA

For the three and nine months ended September 30, 2025, we recorded a tax benefit of $1,397 and $65,008 on pre-tax losses of $1,623,352 and $1,846,220, respectively, resulting in an effective tax rate that was lower than the U.S. statutory tax rate. The lower rate is primarily due to the nonrecognition for tax purposes of the intangible impairment charge during the three and nine months ended September 30, 2025.

For the three and nine months ended September 30, 2024, we recorded a tax benefit (expense) of $9,892 and $(42,045) on pre-tax income (loss) of $(50,727) and $10,016, respectively. For the three months ended September 30, 2024, the effective tax rate was lower than the U.S. statutory tax rate primarily due to the increase in tax deficiencies on share-based compensation. For the nine months ended September 30, 2024, the effective tax rate was higher than the U.S. statutory rate, due to increased state tax expense, primarily from a discrete adjustment of $19,472 from the enacted corporate tax rate increase in New Jersey. In addition, the higher rate for the nine month period is due to the impact of certain non-deductible expenses and tax deficiencies on share-based compensation.

CSC Holdings

For the three and nine months ended September 30, 2025, we recorded a tax benefit of $2,149 and $67,361 on pre-tax losses of $1,627,657 and $1,859,604, respectively, resulting in an effective tax rate that was lower than the U.S. statutory tax rate. The lower rate is primarily due to the nonrecognition for tax purposes of the intangible impairment charge during the three and nine months ended September 30, 2025.

For the three and nine months ended September 30, 2024, we recorded a tax benefit (expense) of $10,064 and $(41,873) on pre-tax income (loss) of $(51,589) and $9,154, respectively. For the three months ended September 30,

27

ALTICE USA, INC. AND SUBSIDIARIES

COMBINED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

(Dollars in thousands, except share, unit and per share amounts)

(Unaudited)

2024, the effective tax rate was lower than the U.S. statutory tax rate primarily due to the increase in tax deficiencies on share-based compensation. For the nine months ended September 30, 2024, the effective tax rate was higher than the U.S. statutory rate, due to increased state tax expense, primarily from a discrete adjustment of $19,472 from the enacted corporate tax rate increase in New Jersey. In addition, the higher rate for the nine month period is due to the impact of certain non-deductible expenses and tax deficiencies on share-based compensation.

### NOTE 13. SHARE-BASED COMPENSATION

The following table presents share-based compensation expense (benefit) and unrecognized compensation cost:

| Line item | Share-Based Compensation / Three Months Ended September 30, 2025 | Share-Based Compensation / Three Months Ended September 30, 2024 | Share-Based Compensation / Nine Months Ended September 30, 2025 | Share-Based Compensation / Nine Months Ended September 30, 2024 | Unrecognized Compensation Cost as of September 30, 2025 |
| --- | --- | --- | --- | --- | --- |
| Awards issued pursuant to LTIP: |  |  |  |  |  |
| Stock option awards | $358 | $1,154 | $1,149 | $373 | $770 |
| Performance stock units | (228) | 651 | 946 | (1,568) | 763 |
| Restricted share units | 9,011 | 13,412 | 29,328 | 36,919 | 45,277 |
| Cash denominated performance awards | 2,872 | 4,097 | 11,630 | 11,025 | 28,789 |
| Other | — | 856 | 575 | 3,602 | — |
|  | $12,013 | $20,170 | $43,628 | $50,351 | $75,599 |

Restricted Share Units

The following table summarizes activity related to restricted share units granted to our employees:

| Line item | Number of Units |
| --- | --- |
| Balance at December 31, 2024 | 30,146,503 |
| Granted | 19,864,598 |
| Vested | (10,430,527) |
| Forfeited | (5,630,577) |
| Balance at September 30, 2025 | 33,949,997 |

Cash Denominated Performance Awards

The following table summarizes activity related to cash denominated performance award granted to our employees:

| Line item | Number of Units |
| --- | --- |
| Balance at December 31, 2024 | 92,346,250 |
| Forfeited | (17,145,000) |
| Balance at September 30, 2025 | 75,201,250 |

The cash denominated performance awards cliff vest in three years. The payout of these awards can range from 0% to 200% of the target value based on our achievement of certain revenue and Adjusted EBITDA targets during a three year performance period. These awards will be settled in shares of our Class A common stock, or cash, at our option.

#### Stock Option Awards

Options outstanding under the 2017 LTIP Plan either (i) cliff vest on the third anniversary of the date of grant, (ii) vest over three years in annual increments of 33-1/3%, or (iii) vest over four years, with 50% vesting on the second anniversary of the date of grant, 25% on the third anniversary of the date of grant and 25% on the fourth anniversary of the date of grant. The option awards generally are subject to continued employment with us, and expire ten years

28

ALTICE USA, INC. AND SUBSIDIARIES

COMBINED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

(Dollars in thousands, except share, unit and per share amounts)

(Unaudited)

from the date of grant. Performance based option awards vest upon achievement of performance criteria. As of September 30, 2025, there were 17,065,933 options outstanding of which 15,361,939 were exercisable.

Performance Stock Units

Certain of our employees were granted performance stock units ("PSUs"). Each PSU gives the employee the right to receive one share of Altice USA Class A common stock, upon achievement of a specified stock price hurdle. The PSUs will be forfeited if the applicable performance measure is not achieved prior to January 29, 2026 or if the employee does not continue to provide services to us through the achievement date of the applicable performance measure. As of September 30, 2025 there were 2,500,432 PSUs outstanding.

#### Lightpath Plan Awards

As of September 30, 2025, 608,859 Class A-1 management incentive units and 281,576 Class A-2 management incentive units ("Award Units") granted to certain employees of Lightpath were outstanding. Vested units will be redeemed upon a partial exit, a change in control or the completion of an initial public offering, as defined in the Lightpath Holdings LLC agreement. The grant date fair value of the Award Units outstanding aggregated $31,501 and will be expensed in the period in which a partial exit or a liquidity event is consummated.

### NOTE 14. AFFILIATE AND RELATED PARTY TRANSACTIONS

Affiliate and Related Party Transactions

Altice USA is controlled by Patrick Drahi through Next Alt who also controls Altice Europe and other entities.

As the transactions discussed below were conducted between entities under common control by Mr. Drahi, amounts charged for certain services may not have represented amounts that might have been received or incurred if the transactions were based upon arm's length negotiations.

The following table summarizes the revenue and expenses related to services provided to or received from affiliates and related parties:

| Line item | Three Months Ended September 30, 2025 | Three Months Ended September 30, 2024 | Nine Months Ended September 30, 2025 | Nine Months Ended September 30, 2024 |
| --- | --- | --- | --- | --- |
| Revenue | $18 | $74 | $179 | $386 |
| Operating expenses: |  |  |  |  |
| Programming and other direct costs | (1,676) | (2,449) | (4,217) | (8,951) |
| Other operating expenses, net | (13,604) | (13,429) | (39,066) | (34,188) |
| Operating expenses, net | (15,280) | (15,878) | (43,283) | (43,139) |
| Net charges | $(15,262) | $(15,804) | $(43,104) | $(42,753) |
| Capital expenditures | $3,043 | $19,201 | $32,865 | $78,507 |

Revenue

We recognize revenue primarily from the sale of advertising to a related party.

Programming and Other Direct Costs

Programming and other direct costs include costs incurred for advertising services provided by a related party.

Other Operating Expenses, Net

Other operating expenses primarily include charges for services provided by certain subsidiaries of Altice Europe and other related parties, including costs for customer care services.

Capital Expenditures

Capital expenditures primarily include costs for equipment purchased and software development services provided by subsidiaries of Altice Europe.

29

ALTICE USA, INC. AND SUBSIDIARIES

COMBINED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

(Dollars in thousands, except share, unit and per share amounts)

(Unaudited)

Aggregate amounts that were due from and due to affiliates and related parties are summarized below:

| Line item | September 30, 2025 | December 31, 2024 |
| --- | --- | --- |
| Due from: |  |  |
| Altice Europe | — | $44 |
| Other affiliates and related parties | 445 | 270 |
|  | $445 | $314 |
| Due to: |  |  |
| Altice Europe | $20,120 | $26,944 |
| Other affiliates and related parties | 1,435 | — |
|  | $21,555 | $26,944 |

Amounts due from affiliates presented in the table above represent amounts due for services provided to the respective related party. Amounts due to affiliates presented in the table above and included in other current liabilities in the accompanying balance sheets relate to the purchase of equipment, customer care services, and advertising services, as well as reimbursement for payments made on our behalf.

CSC Holdings Transactions with Altice USA

During the nine months ended September 30, 2025, CSC Holdings made cash equity distribution payments to Altice USA of $9,738 and received non-cash equity contributions from Altice USA of $43. During the three and nine months ended September 30, 2024, CSC Holdings made cash equity distribution payments to its parent of $707 and $5,345, respectively. CSC Holdings made non-cash equity distributions to its parent of $64 for the three months ended September 30, 2024 and received net non-cash equity contributions from its parent of $5,794 for the nine months ended September 30, 2024.

As of September 30, 2025, CSC Holdings had a demand promissory note payable to Captive in the amount of $84,500. Interest on this demand promissory note was $3,962 which was paid during the nine months ended September 30, 2025. As of September 30, 2025, CSC Holdings had a receivable from Captive of $162 and a receivable from Altice USA of $1,214.

### NOTE 15. COMMITMENTS AND CONTINGENCIES

Legal Matters

On December 7, 2023, Warner Records Inc., Sony Music Publishing (US) LLC and a number of other purported copyright holders (collectively, the “Warner Plaintiffs”) filed a complaint in the U.S. District Court for the Eastern District of Texas (the “Warner Matter”), alleging that certain of our Internet subscribers directly infringed over 10,700 of the Warner Plaintiffs’ copyrighted works. The Warner Plaintiffs seek to hold us liable for claims of contributory infringement of copyright and vicarious copyright infringement. The Warner Plaintiffs also claim that our alleged secondary infringement was willful and seek substantial statutory damages. On July 15, 2025, the Court issued an order staying the case, including the trial scheduled to commence in September 2025, pending the Supreme Court of the United States’s decision in Cox Communications, Inc. v. Sony Music Entertainment.

We intend to and are vigorously defending against the claims in the Warner Matter. In addition to contesting the claims of liability, we have an affirmative defense under the Digital Millennium Copyright Act that, if successful, would preclude or limit monetary damages against us in connection with some or all of the Warner Plaintiffs’ asserted claims. There can be no assurance as to the outcome of this litigation. We may incur significant costs in defending this action, and if we need to take measures to reduce our exposure to these risks or are required to pay damages in relation to such claims or choose to settle such claims, our business, reputation, financial condition and results of operations could be materially adversely affected.

On September 10, 2024, United States Technologies Communication Corp. d/b/a Netceed filed suit in the New York Supreme Court, New York County. Plaintiff asserts claims for declaratory judgment, breach of contract, and breach of the implied covenant of good faith and fair dealing for alleged violations of the parties’ services and sales agreements, and seeks compensatory damages, as set forth in the complaint. We deny the claims and intend to vigorously defend the lawsuit. On November 21, 2024, we filed a motion to dismiss in part plaintiff’s complaint, and

30

ALTICE USA, INC. AND SUBSIDIARIES

COMBINED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

(Dollars in thousands, except share, unit and per share amounts)

(Unaudited)

on May 15, 2025, the Court issued a decision and order on the Company’s motion to dismiss, and dismissed certain causes of action. On June 12, 2025, the Company filed its answer, affirmative defenses, and counterclaim. Although the outcome of this matter cannot be predicted and the impact of the final resolution on our results of operations in a subsequent reporting period is not known, management does not believe that the resolution of the matter will have a material adverse effect on our operations or financial position or our ability to meet our financial obligations as they become due.

We also receive notices from third parties, and in some cases we are named as a defendant in lawsuits, claiming infringement of various patents or copyrights relating to various aspects of our businesses. In certain of these cases other industry participants are also defendants, and in certain of these cases we expect that some or all potential liability would be the responsibility of our vendors pursuant to applicable contractual indemnification provisions. In the event that we are found to infringe on any patent or other intellectual property rights, we may be subject to substantial damages or an injunction that could require us or our vendors to modify certain products and services we offer to our subscribers, as well as enter into royalty or license agreements with respect to the patents at issue. We are also party to various other lawsuits, disputes and investigations arising in the ordinary course of our business, some of which may involve claims for substantial damages, fines or penalties. Although the outcome of these matters cannot be predicted and the impact of the final resolution of these matters on our results of operations in a particular subsequent reporting period is not known, management does not believe that the resolution of these matters, individually, will have a material adverse effect on our operations or financial position or our ability to meet our financial obligations as they become due, but they could be material to our consolidated results of operations or cash flows for any one period.

### NOTE 16. SEGMENT REPORTING

We principally deliver broadband, video, telephony and mobile services to residential and business customers, as well as proprietary content and advertising services in the United States. Our connectivity services are provided through a converged fixed and mobile network and key operating activities and resource allocation decisions are managed centrally. Our chief executive officer is the chief operating decision maker ("CODM"). Our CODM assesses performance and decides how to allocate resources based on our consolidated statements of operations. Our CODM manages the business on a consolidated basis such that we have a single operating segment. Our segment performance measure is consolidated net income (loss).

The following table presents significant expenses that are not separately presented on the statements of operations that are reviewed by the CODM.

| Line item | Three Months Ended September 30, 2025 | Three Months Ended September 30, 2024 | Nine Months Ended September 30, 2025 | Nine Months Ended September 30, 2024 |
| --- | --- | --- | --- | --- |
| Programming costs | $471,116 | $549,928 | $1,473,392 | $1,720,755 |
| Other direct costs (a) | 167,896 | 161,402 | 498,841 | 453,922 |
| Programming and other direct costs | $639,012 | $711,330 | $1,972,233 | $2,174,677 |
| Sales and marketing | $156,875 | $167,937 | $520,717 | $495,414 |
| Network services | 133,689 | 141,253 | 404,610 | 416,144 |
| Other (b) | 359,890 | 365,374 | 1,120,180 | 1,107,798 |
| Other operating expenses (c) | $650,454 | $674,564 | $2,045,507 | $2,019,356 |

(a)Other direct costs include interconnection, call completion, circuit and transport fees paid to other telecommunication companies for the transport and termination of voice and data services. These costs also include franchise fees which are payable to the state governments and local municipalities where we operate. Additionally, these costs include the cost of media for advertising spots sold, the cost of mobile devices sold to our customers and direct costs of providing mobile services.

(b)Other operating expenses include costs related to our call center operations that handle customer inquiries and billing and collection activities, costs related to our information technology systems, costs related to our news and advertising

31

ALTICE USA, INC. AND SUBSIDIARIES

COMBINED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

(Dollars in thousands, except share, unit and per share amounts)

(Unaudited)

business, as well as our Lightpath business, and various other operating costs such as share-based compensation, corporate overhead and facilities.

(c)Other operating expenses for CSC Holdings for the three and nine months ended September 30, 2025 amounted to $653,377 and $2,054,691, respectively, and include additional costs of $2,923 and $9,184 respectively, that were eliminated at Altice USA.

The measure of segment assets is reported on the balance sheet as total consolidated assets.

### NOTE 17. SUPPLEMENTAL INFORMATION

For financing purposes, CSC Holdings’ debt silo is structured as the CSC Holdings Restricted Group and an unrestricted group, which includes certain designated subsidiaries. CSC Holdings Restricted Group is comprised of CSC Holdings and all of its wholly-owned operating subsidiaries, except for Cablevision Lightpath and certain of its designated subsidiaries, and Cablevision Funding and certain special-purpose entities formed or transferred to Cablevision Funding in connection with the Loan and Security Agreement. These CSC Holdings Restricted Group subsidiaries are subject to the covenants and restrictions of the CSC Holdings’ credit facility and indentures governing the notes issued by CSC Holdings.

Presented below is financial information that reflects the financial condition and results of operations of CSC Holdings and its Restricted Subsidiaries separate from the financial condition and results of operations of CSC Holdings' Unrestricted Subsidiaries as of September 30, 2025, and for the three and nine months ended September 30, 2025 and 2024. The financial information may not necessarily be indicative of the financial condition and results of operations had the Unrestricted Subsidiaries operated as independent entities.

_As of September 30, 2025_

| Line item | Restricted Group | Unrestricted Group | Eliminations | CSC Holdings |
| --- | --- | --- | --- | --- |
| ASSETS |  |  |  |  |
| Current assets | $1,328,819 | $1,158,772 | $(974,974) | $1,512,617 |
| Long term assets | 25,053,596 | 4,180,100 | (13,702) | 29,219,994 |
| Total assets | $26,382,415 | $5,338,872 | $(988,676) | $30,732,611 |

| LIABILITIES AND MEMBER'S DEFICIENCY |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Current liabilities | $ | $2,752,308 | $ | $272,104 | $ | $(978,164) | $ | $2,046,248 |
| Long-term debt | 23,743,976 |  | 2,398,428 |  | — |  | 26,142,404 |  |
| Long-term liabilities | 4,573,559 |  | 233,110 |  | (10,468) |  | 4,796,201 |  |
| Total liabilities | 31,069,843 |  | 2,903,642 |  | (988,632) |  | 32,984,853 |  |
| Total member's deficiency | (4,687,428) |  | 2,432,667 |  | (46) |  | (2,254,807) |  |
| Noncontrolling interests | — |  | 2,563 |  | 2 |  | 2,565 |  |
| Total deficiency | (4,687,428) |  | 2,435,230 |  | (44) |  | (2,252,242) |  |
| Total liabilities and member's deficiency | $ | $26,382,415 | $ | $5,338,872 | $ | $(988,676) | $ | $30,732,611 |

32

ALTICE USA, INC. AND SUBSIDIARIES

COMBINED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

(Dollars in thousands, except share, unit and per share amounts)

(Unaudited)

_Three Months Ended September 30, 2025_

| Line item | Restricted Group | Unrestricted Group | Eliminations | CSC Holdings |
| --- | --- | --- | --- | --- |
| Revenue | $1,795,298 | $315,413 | $(2,601) | $2,108,110 |
| Operating expenses | 3,055,208 | 223,221 | (2,612) | 3,275,817 |
| Operating income | (1,259,910) | 92,192 | 11 | (1,167,707) |
| Other expense, net | (415,854) | (43,515) | (581) | (459,950) |
| Income (loss) before income taxes | (1,675,764) | 48,677 | (570) | (1,627,657) |
| Income tax benefit (expense) | 13,212 | (11,063) | — | 2,149 |
| Net income (loss) | (1,662,552) | 37,614 | (570) | (1,625,508) |
| Net loss (income) attributable to noncontrolling interests | — | (4,451) | 507 | (3,944) |
| Net income (loss) attributable to CSC Holdings, LLC sole member | $(1,662,552) | $33,163 | $(63) | $(1,629,452) |

_Nine Months Ended September 30, 2025_

| Line item | Restricted Group | Unrestricted Group | Eliminations | CSC Holdings |
| --- | --- | --- | --- | --- |
| Revenue | $5,860,208 | $554,662 | $(7,275) | $6,407,595 |
| Operating expenses | 6,544,812 | 389,479 | (7,309) | 6,926,982 |
| Operating income | (684,604) | 165,183 | 34 | (519,387) |
| Other expense, net | (1,247,567) | (90,663) | (1,987) | (1,340,217) |
| Income (loss) before income taxes | (1,932,171) | 74,520 | (1,953) | (1,859,604) |
| Income tax benefit (expense) | 82,264 | (14,903) | — | 67,361 |
| Net income (loss) | (1,849,907) | 59,617 | (1,953) | (1,792,243) |
| Net loss (income) attributable to noncontrolling interests | — | (18,338) | 1,724 | (16,614) |
| Net income (loss) attributable to CSC Holdings, LLC sole member | $(1,849,907) | $41,279 | $(229) | $(1,808,857) |

_Three Months Ended September 30, 2024_

| Line item | Restricted Group | Unrestricted Group | Eliminations | CSC Holdings |
| --- | --- | --- | --- | --- |
| Revenue | $2,113,045 | $116,754 | $(2,099) | $2,227,700 |
| Operating expenses | 1,705,583 | 80,436 | (2,110) | 1,783,909 |
| Operating income | 407,462 | 36,318 | 11 | 443,791 |
| Other expense, net | (463,125) | (31,999) | (256) | (495,380) |
| Income (loss) before income taxes | (55,663) | 4,319 | (245) | (51,589) |
| Income tax benefit (expense) | 10,728 | (664) | — | 10,064 |
| Net income (loss) | (44,935) | 3,655 | (245) | (41,525) |
| Net loss (income) attributable to noncontrolling interests | — | (2,357) | 222 | (2,135) |
| Net income (loss) attributable to CSC Holdings, LLC sole member | $(44,935) | $1,298 | $(23) | $(43,660) |

33

ALTICE USA, INC. AND SUBSIDIARIES

COMBINED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

(Dollars in thousands, except share, unit and per share amounts)

(Unaudited)

_Nine Months Ended September 30, 2024_

| Line item | Restricted Group | Unrestricted Group | Eliminations | CSC Holdings |
| --- | --- | --- | --- | --- |
| Revenue | $6,379,353 | $346,118 | $(6,081) | $6,719,390 |
| Operating expenses | 5,142,144 | 244,833 | (6,114) | 5,380,863 |
| Operating income | 1,237,209 | 101,285 | 33 | 1,338,527 |
| Other expense, net | (1,259,799) | (67,686) | (1,888) | (1,329,373) |
| Income (loss) before income taxes | (22,590) | 33,599 | (1,855) | 9,154 |
| Income tax expense | (37,573) | (4,300) | — | (41,873) |
| Net income (loss) | (60,163) | 29,299 | (1,855) | (32,719) |
| Net loss (income) attributable to noncontrolling interests | — | (18,446) | 1,673 | (16,773) |
| Net income (loss) attributable to CSC Holdings, LLC sole member | $(60,163) | $10,853 | $(182) | $(49,492) |

### NOTE 18. SUBSEQUENT EVENTS

On November 5, 2025, our Board of Directors approved (i) a Certificate of Amendment to our Fourth Amended and Restated Certificate of Incorporation (the “Charter Amendment”) and (ii) the Third Amended and Restated Bylaws (the “Third Amended and Restated Bylaws”). The Charter Amendment was filed with the Delaware Secretary of State on that date, with a requested effectiveness of November 7, 2025. Effective as of November 7, 2025, our corporate name will change from Altice USA, Inc. to Optimum Communications, Inc. (the “Name Change”).

The Third Amended and Restated Bylaws, which will also become effective November 7, 2025, reflect the Name Change and certain ministerial updates, including updating references to our stockholders’ agreement to reflect the execution of the Amended and Restated Stockholder Agreement, dated as of August 2, 2023, and the changes reflected therein; removing references to “A4,” which we understand has been reorganized and no longer exists in its prior corporate form; and modifying certain limited consent provisions by Next Alt S.à r.l. in connection with the quorum for board meetings.

In connection with the Name Change, we announced that we intend for our shares of Class A common stock to cease trading under the ticker symbol “ATUS” and begin trading under the new ticker symbol “OPTU” on the New York Stock Exchange, which is expected to be effective on November 19, 2025. The CUSIP numbers for our Class A and Class B common stock will remain unchanged following the ticker symbol change.

34

## Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations

This Form 10-Q contains statements that constitute forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act and Section 21E of the Securities Act of 1934, as amended. In this Form 10-Q there are statements concerning our future operating results and future financial performance. Words such as "expects", "anticipates", "believes", "estimates", "may", "will", "should", "could", "potential", "continue", "intends", "plans" and similar words and terms used in the discussion of future operating results, future financial performance and future events identify forward-looking statements. Investors are cautioned that such forward-looking statements are not guarantees of future performance, results or events and involve risks and uncertainties and that actual results or developments may differ materially from the forward-looking statements as a result of various factors.

We operate in a highly competitive, consumer and technology driven and rapidly changing business that is affected by government regulation and economic, strategic, technological, political and social conditions. Various factors could adversely affect our operations, business or financial results in the future and cause our actual results to differ materially from those contained in the forward-looking statements. In addition, important factors that could cause our actual results to differ materially from those in our forward-looking statements include:

- competition for broadband, video and telephony customers from existing competitors (such as broadband communications companies, direct broadcast satellite providers, wireless data and telephony providers, and Internet-based providers) and new fiber-based competitors entering our footprint;
- changes in consumer preferences, laws and regulations or technology that may cause us to change our operational strategies;
- increased difficulty negotiating programming agreements on favorable terms, if at all, resulting in increased costs to us and/or the loss of popular programming;
- increasing programming costs and delivery expenses related to our products and services;
- our ability to achieve anticipated customer and revenue growth, to successfully introduce new products and services and to implement our growth strategy;
- our ability to complete our capital investment plans on time and on budget, including our plan to build a parallel fiber-to-the-home ("FTTH") network;
- our ability to develop mobile voice and data services and our ability to attract customers to these services;
- the effects of economic conditions or other factors which may negatively affect our customers’ demand for our current and future products and services;
- the effects of industry conditions;
- demand for digital and linear advertising products and services;
- our substantial indebtedness and debt service obligations;
- adverse changes in the credit market;
- changes as a result of any tax reforms that may affect our business;
- financial community and rating agency perceptions of our business, operations, financial condition and the industries in which we operate;
- the restrictions contained in our financing agreements;
- our ability to generate sufficient cash flow to meet our debt service obligations;
- fluctuations in interest rates which may cause our interest expense to vary from quarter to quarter;
- technical failures, equipment defects, physical or electronic break-ins to our services, computer viruses and similar problems;
- cybersecurity incidents as a result of hacking, phishing, denial of service attacks, dissemination of computer viruses, ransomware and other malicious software, misappropriation of data, and other malicious attempts;
- disruptions to our networks, infrastructure and facilities as a result of natural disasters, power outages, accidents, maintenance failures, telecommunications failures, degradation of plant assets, terrorist attacks and similar events;

35

- labor shortages and supply chain disruptions;
- our ability to obtain necessary hardware, software, communications equipment and services and other items from our vendors at reasonable costs;
- our ability to effectively integrate acquisitions and to maximize expected operating efficiencies from our acquisitions, if any;
- significant unanticipated increases in the use of bandwidth-intensive Internet-based services;
- the outcome of litigation, government investigations and other proceedings; and
- other risks and uncertainties inherent in our cable and broadband communications businesses and our other businesses, including those listed under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" contained in our Annual Report on Form 10-K filed with the Securities and Exchange Commission ("SEC") on February 13, 2025 (the "Annual Report").

These factors are not necessarily all of the important factors that could cause our actual results to differ materially from those expressed in any of our forward-looking statements. Other unknown or unpredictable factors could cause our actual results to differ materially from those expressed in any of our forward-looking statements.

Given these uncertainties, you are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements are made only as of the date of this Quarterly Report. Except to the extent required by law, we do not undertake, and specifically decline any obligation, to update any forward-looking statements or to publicly announce the results of any revisions to any of such statements to reflect future events or developments. Comparisons of results for current and any prior periods are not intended to express any future trends or indications of future performance, unless expressed as such, and should only be viewed as historical data.

You should read this Quarterly Report with the understanding that our actual future results, levels of activity, performance and events and circumstances may be materially different from what we expect. We qualify all forward-looking statements by these cautionary statements.

Certain numerical figures included in this Quarterly Report have been subject to rounding adjustments. Accordingly, such numerical figures shown as totals in various tables may not be arithmetic aggregations of the figures that precede them.

All dollar amounts, except per customer and per share data, included in the following discussion, are presented in thousands.

### Overview

Our Business

We principally provide broadband communications and video services in the United States and market our services under the Optimum brand. We deliver broadband, video, telephony, and mobile services to approximately 4.4 million residential and business customers across our footprint. Our footprint extends across 21 states (primarily in the New York metropolitan area and various markets in the south-central United States) through a fiber-rich hybrid-fiber coaxial ("HFC") broadband network and a FTTH network with approximately 9.9 million total passings as of September 30, 2025. Additionally, we offer news programming and advertising services.

Key Factors Impacting Operating Results and Financial Condition

Our future performance is dependent, to a large extent, on the impact of direct competition, general economic conditions (including capital and credit market conditions), our ability to manage our businesses effectively, and our relative strength and leverage in the marketplace, both with suppliers and customers. For more information, see "Risk Factors" and "Business-Competition" included in our Annual Report and the cautionary statement regarding forward-looking statements included in this Quarterly Report.

We derive revenue principally through monthly charges to residential customers of our broadband, video, telephony and mobile services. We also derive revenue from digital video recorder, video-on-demand ("VOD"), pay-per-view, installation and home shopping commissions. Our residential broadband, video, telephony and mobile services accounted for approximately 41%, 31%, 3%, and 2%, respectively, of our consolidated revenue for the nine months ended September 30, 2025. We also derive revenue from the sale of a wide and growing variety of products and services to both large enterprise and small and medium-sized business ("SMB") customers, including broadband, telephony, networking, video, and mobile services. For the nine months ended September 30, 2025, 17% of our

36

consolidated revenue was derived from these business services. In addition, we derive revenue from the sale of advertising inventory available on the programming carried on our cable television systems, as well as other systems (linear revenue), digital advertising, data analytics and affiliation fees for news programming, which accounted for approximately 5% of our consolidated revenue for the nine months ended September 30, 2025. Our other revenue (which primarily consists of mobile equipment revenue) for the three months ended September 30, 2025 accounted for approximately 1% of our consolidated revenue.

Revenue is impacted by rate increases, changes in promotional offerings, changes in the number of customers that subscribe to our services, including additional services sold to our existing customers, programming package changes by our video customers, speed tier changes by our broadband customers, acquisitions/dispositions, and construction of cable systems that result in the addition of new customers. Additionally, the allocation of revenue between the residential offerings is impacted by changes in the standalone selling price of each performance obligation within our promotional bundled offers.

We operate in a highly competitive consumer-driven industry and we compete against a variety of broadband, video, mobile, fixed wireless broadband and fixed-line telephony providers and delivery systems, including broadband communications companies, wireless data and telephony providers, fiber-based service providers, satellite delivered video signals, Internet-delivered video content and broadcast television signals available to residential and business customers in our service areas. Our competitors include AT&T Inc., DirecTV, DISH Network (a wholly-owned subsidiary of EchoStar Corporation), Frontier Communications Parent, Inc., Lumen Technologies, Inc., T-Mobile US, Inc., and Verizon Communications Inc. Consumers' selection of an alternate source of service, whether due to economic constraints, technological advances, or preference, negatively impacts the demand for our services. For more information on our competitive landscape, see "Risk Factors" and "Business-Competition" included in our Annual Report.

Our programming costs, which are the most significant component of our operating expenses, are impacted by changes in contractual rates, changes in the number of customers receiving certain programming services, new channel launches, and channel drops. We expect contractual rates to increase in the future. See "Results of Operations" below for more information regarding the key factors impacting our revenues and operating expenses.

Historically, we have made substantial investments in our network and the development of new and innovative products and other service offerings for our customers as a way of differentiating ourselves from our competitors and we expect to do so in the future. Our ongoing FTTH network build has enabled us to deliver multi-gig broadband speeds to FTTH customers in order to meet the growing data needs of residential and business customers. Additionally, we are investing in our HFC network which includes a multi-gig network upgrade plan through targeted mid-split upgrades. Finally, we offer a full service mobile offering to consumers across our footprint. We may incur greater than anticipated capital expenditures in connection with these initiatives, fail to realize anticipated benefits, experience delays and business disruptions or encounter other challenges to executing them as planned. See "Liquidity and Capital Resources- Capital Expenditures" for additional information regarding our capital expenditures.

### Non-GAAP Financial Measures

We define Adjusted EBITDA, which is a non-GAAP financial measure, as net income (loss) excluding income taxes, non-operating income or expenses, gain (loss) on extinguishment of debt and write-off of deferred financing costs, gain (loss) on interest rate swap contracts, gain (loss) on derivative contracts, gain (loss) on investments and sale of affiliate interests, interest expense, net, depreciation and amortization, share-based compensation, restructuring, impairments and other operating items (such as significant legal settlements and contractual payments for terminated employees). See reconciliation of net income (loss) to Adjusted EBITDA below.

Adjusted EBITDA eliminates the significant non-cash depreciation and amortization expense that results from the capital-intensive nature of our business and from intangible assets recognized from acquisitions, as well as certain non-cash and other operating items that affect the period-to-period comparability of our operating performance. In addition, Adjusted EBITDA is unaffected by our capital and tax structures and by our investment activities.

We believe Adjusted EBITDA is an appropriate measure for evaluating our operating performance. Adjusted EBITDA and similar measures with similar titles are common performance measures used by investors, analysts and peers to compare performance in our industry. Internally, we use revenue and Adjusted EBITDA measures as important indicators of our business performance and evaluate management’s effectiveness with specific reference to these indicators. We believe Adjusted EBITDA provides management and investors a useful measure for period-to-period comparisons of our core business and operating results by excluding items that are not comparable across

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reporting periods or that do not otherwise relate to our ongoing operating results. Adjusted EBITDA should be viewed as a supplement to and not a substitute for operating income (loss), net income (loss), and other measures of performance presented in accordance with U.S. generally accepted accounting principles ("GAAP"). Since Adjusted EBITDA is not a measure of performance calculated in accordance with GAAP, this measure may not be comparable to similar measures with similar titles used by other companies.

We also use Free Cash Flow (defined as net cash flows from operating activities less cash capital expenditures) as a liquidity measure. We believe this measure is useful to investors in evaluating our ability to service our debt and make continuing investments with internally generated funds, although it may not be directly comparable to similar measures reported by other companies.

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### Results of Operations - Altice USA

(unaudited)

| Line item | Three Months Ended September 30, 2025 | Three Months Ended September 30, 2024 | Favorable (Unfavorable) | Nine Months Ended September 30, 2025 | Nine Months Ended September 30, 2024 | Favorable (Unfavorable) |
| --- | --- | --- | --- | --- | --- | --- |
| Revenue: |  |  |  |  |  |  |
| Broadband | $873,449 | $913,417 | $(39,968) | $2,658,149 | $2,745,400 | $(87,251) |
| Video | 645,207 | 715,117 | (69,910) | 1,971,315 | 2,210,156 | (238,841) |
| Telephony | 61,791 | 69,877 | (8,086) | 192,836 | 212,545 | (19,709) |
| Mobile | 42,277 | 30,563 | 11,714 | 116,597 | 82,935 | 33,662 |
| Residential revenue | 1,622,724 | 1,728,974 | (106,250) | 4,938,897 | 5,251,036 | (312,139) |
| Business services and wholesale | 361,886 | 366,355 | (4,469) | 1,087,219 | 1,100,506 | (13,287) |
| News and advertising | 105,863 | 117,682 | (11,819) | 327,044 | 328,687 | (1,643) |
| Other | 17,637 | 14,689 | 2,948 | 54,435 | 39,161 | 15,274 |
| Total revenue | 2,108,110 | 2,227,700 | (119,590) | 6,407,595 | 6,719,390 | (311,795) |
| Operating expenses: |  |  |  |  |  |  |
| Programming and other direct costs | 639,012 | 711,330 | 72,318 | 1,972,233 | 2,174,677 | 202,444 |
| Other operating expenses | 650,454 | 674,564 | 24,110 | 2,045,507 | 2,019,356 | (26,151) |
| Restructuring, impairments and other operating items | 1,568,120 | 10,871 | (1,557,249) | 1,656,568 | 15,525 | (1,641,043) |
| Depreciation and amortization | 415,308 | 386,342 | (28,966) | 1,243,490 | 1,170,503 | (72,987) |
| Operating income | (1,164,784) | 444,593 | (1,609,377) | (510,203) | 1,339,329 | (1,849,532) |
| Other income (expense): |  |  |  |  |  |  |
| Interest expense, net | (459,124) | (448,168) | (10,956) | (1,331,799) | (1,328,264) | (3,535) |
| Gain on investments and sale of affiliate interests | — | — | — | 5 | 292 | (287) |
| Gain (loss) on interest rate swap contracts, net | 1,147 | (45,657) | 46,804 | (142) | 10,220 | (10,362) |
| Loss on extinguishment of debt and write-off of deferred financing costs | — | — | — | (1,693) | (7,035) | 5,342 |
| Other expense, net | (591) | (1,495) | 904 | (2,388) | (4,526) | 2,138 |
| Income (loss) before income taxes | (1,623,352) | (50,727) | (1,572,625) | (1,846,220) | 10,016 | (1,856,236) |
| Income tax benefit (expense) | 1,397 | 9,892 | (8,495) | 65,008 | (42,045) | 107,053 |
| Net loss | (1,621,955) | (40,835) | (1,581,120) | (1,781,212) | (32,029) | (1,749,183) |
| Net income attributable to noncontrolling interests | (3,944) | (2,135) | (1,809) | (16,614) | (16,773) | 159 |
| Net loss attributable to Altice USA, Inc. stockholders | $(1,625,899) | $(42,970) | $(1,582,929) | $(1,797,826) | $(48,802) | $(1,749,024) |

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The following is a reconciliation of net loss to Adjusted EBITDA (unaudited):

| Line item | Three Months Ended September 30, 2025 | Three Months Ended September 30, 2024 | Nine Months Ended September 30, 2025 | Nine Months Ended September 30, 2024 |
| --- | --- | --- | --- | --- |
| Net loss | $(1,621,955) | $(40,835) | $(1,781,212) | $(32,029) |
| Income tax expense (benefit) | (1,397) | (9,892) | (65,008) | 42,045 |
| Other expense, net | 591 | 1,495 | 2,388 | 4,526 |
| Loss (gain) on interest rate swap contracts, net | (1,147) | 45,657 | 142 | (10,220) |
| Gain on investments and sale of affiliates interests | — | — | (5) | (292) |
| Loss on extinguishment of debt and write-off of deferred financing costs | — | — | 1,693 | 7,035 |
| Interest expense, net | 459,124 | 448,168 | 1,331,799 | 1,328,264 |
| Depreciation and amortization | 415,308 | 386,342 | 1,243,490 | 1,170,503 |
| Restructuring, impairments and other operating items | 1,568,120 | 10,871 | 1,656,568 | 15,525 |
| Share-based compensation | 12,013 | 20,170 | 43,628 | 50,351 |
| Adjusted EBITDA | $830,657 | $861,976 | $2,433,483 | $2,575,708 |

The following is a reconciliation of net cash flow from operating activities to Free Cash Flow (Deficit) (unaudited):

| Line item | Three Months Ended September 30, 2025 | Three Months Ended September 30, 2024 | Nine Months Ended September 30, 2025 | Nine Months Ended September 30, 2024 |
| --- | --- | --- | --- | --- |
| Net cash flows from operating activities | $147,448 | $436,024 | $746,896 | $1,142,479 |
| Less: Capital expenditures (cash) | 325,520 | 359,159 | 1,065,163 | 1,042,975 |
| Free Cash Flow (Deficit) | $(178,072) | $76,865 | $(318,267) | $99,504 |

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The following table sets forth certain customer metrics (unaudited):

_(in thousands)_

| Line item | September 30, 2025 | June 30, 2025 | September 30, 2024 |
| --- | --- | --- | --- |
| Total passings (a) | 9,942.9 | 9,891.5 | 9,784.7 |
| Total customer relationships (b) | 4,400.5 | 4,462.2 | 4,595.9 |
| Residential | 4,028.6 | 4,088.0 | 4,217.5 |
| SMB | 371.9 | 374.3 | 378.4 |
| Residential customers: |  |  |  |
| Broadband | 3,872.2 | 3,928.3 | 4,039.5 |
| Video | 1,674.9 | 1,736.3 | 1,944.8 |
| Telephony | 1,093.1 | 1,147.8 | 1,326.0 |
| Penetration of total passings (c) | 44.3% | 45.1% | 47.0% |
| Average revenue per user ("ARPU") (d) | $133.28 | $133.68 | $135.77 |
| SMB customers: |  |  |  |
| Broadband | 343.6 | 345.6 | 347.7 |
| Video | 74.6 | 76.6 | 83.3 |
| Telephony | 185.6 | 188.9 | 196.8 |
| Total mobile lines (e) | 584.4 | 546.4 | 420.1 |
| FTTH total passings (f) | 3,053.0 | 3,023.4 | 2,893.7 |
| FTTH customer relationships (g) | 703.5 | 663.0 | 481.6 |
| FTTH Residential | 683.6 | 644.6 | 468.5 |
| FTTH SMB | 19.8 | 18.5 | 13.1 |
| Penetration of FTTH total passings (h) | 23.0% | 21.9% | 16.6% |

(a)Represents the estimated number of single residence homes, apartments and condominium units passed by our HFC and FTTH network in areas serviceable without further extending the transmission lines. In addition, it includes commercial establishments that have connected to our HFC and FTTH network. Broadband services were not available to approximately 26 thousand passings and telephony services were not available to approximately 460 thousand passings.

(b)Represents number of households/businesses that receive at least one of our fixed-line services. Customers represent each customer account (set up and segregated by customer name and address), weighted equally and counted as one customer, regardless of size, revenue generated, or number of boxes, units, or outlets on our HFC and FTTH network. Free accounts are included in the customer counts along with all active accounts, but they are limited to a prescribed group. Most of these accounts are also not entirely free, as they typically generate revenue through other pay services and certain equipment fees. Free status is not granted to regular customers as a promotion. In counting bulk residential customers, such as an apartment building, we count each subscribing unit within the building as one customer, but do not count the master account for the entire building as a customer. We count a bulk commercial customer, such as a hotel, as one customer, and do not count individual rooms at that hotel. Total customer relationships exclude mobile-only customer relationships.

(c)Represents the number of total customer relationships divided by total passings.

(d)Calculated by dividing the average monthly revenue for the respective quarter (fourth quarter for annual periods) derived from the sale of broadband, video, telephony and mobile services to residential customers by the average number of total residential customers for the same period (excluding mobile-only customer relationships).

(e)Mobile lines represent the number of residential and business customers’ wireless connections, which include mobile phone handsets and other mobile wireless connected devices. An individual customer relationship may have multiple mobile lines. The total mobile ending lines as of September 30, 2025, June 30, 2025 and September 30, 2024 include approximately 14.2 thousand, 10.8 thousand and 3.0 thousand lines related to business customers, respectively. The service revenue related to these business customers is reflected in business services and wholesale in the table above.

(f)Represents the estimated number of single residence homes, apartments and condominium units passed by the FTTH network in areas serviceable without further extending the transmission lines. In addition, it includes commercial establishments that have connected to our FTTH network.

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(g)Represents number of households/businesses that receive at least one of our fixed-line services on our FTTH network. FTTH customers represent each customer account (set up and segregated by customer name and address), weighted equally and counted as one customer, regardless of size, revenue generated, or number of boxes, units, or outlets on our FTTH network. Free accounts are included in the customer counts along with all active accounts, but they are limited to a prescribed group. Most of these accounts are also not entirely free, as they typically generate revenue through pay-per view or other pay services and certain equipment fees. Free status is not granted to regular customers as a promotion. In counting bulk residential customers, such as an apartment building, we count each subscribing unit within the building as one customer, but do not count the master account for the entire building as a customer. We count a bulk commercial customer, such as a hotel, as one customer, and do not count individual rooms at that hotel.

(h)Represents the number of total FTTH customer relationships divided by FTTH total passings.

### Comparison of Results for the Three and Nine Months Ended September 30, 2025 compared to the Three and Nine Months Ended September 30, 2024

### Broadband Revenue

Broadband revenue for the three and nine months ended September 30, 2025 was $873,449 and $2,658,149, respectively, and $913,417 and $2,745,400 for the three and nine months ended September 30, 2024, respectively. Broadband revenue is derived principally through monthly charges to residential subscribers of our broadband services. Broadband revenue decreased $39,968 (4%) and $87,251 (3%) for the three and nine months ended September 30, 2025 compared to the three and nine months ended September 30, 2024, respectively. The decrease for the three months ended September 30, 2025 compared to the same period in 2024 was due primarily to declines in broadband customers and lower average recurring broadband revenue per broadband subscriber. The decrease for the nine months ended September 30, 2025 compared to the same period in 2024 was due primarily to declines in broadband customers, partially offset by higher average recurring broadband revenue per broadband subscriber, primarily driven by certain rate increases.

Video Revenue

Video revenue for the three and nine months ended September 30, 2025 was $645,207 and $1,971,315, respectively, and $715,117 and $2,210,156 for the three and nine months ended September 30, 2024, respectively. Video revenue is derived principally through monthly charges to residential customers of our video services. Video revenue decreased $69,910 (10%) and $238,841 (11%) for the three and nine months ended September 30, 2025 compared to the three and nine months ended September 30, 2024, respectively. The decreases were due primarily to declines in video customers, partially offset by higher average recurring video revenue per video customer, primarily driven by certain rate increases. For the nine months ended September 30, 2025, customer credits attributable to the temporary interruption of certain video programming also contributed to the year-over-year decline.

Telephony Revenue

Telephony revenue for the three and nine months ended September 30, 2025 was $61,791 and $192,836, respectively, and $69,877 and $212,545 for the three and nine months ended September 30, 2024, respectively. Telephony revenue is derived principally through monthly charges to residential customers of our telephony services. Telephony revenue decreased $8,086 (12%) and $19,709 (9%) for the three and nine months ended September 30, 2025 compared to the three and nine months ended September 30, 2024, respectively. The decreases were due primarily to declines in telephony customers, partially offset by higher average recurring telephony revenue per telephony customer.

Mobile Service Revenue

Mobile service revenue for the three and nine months ended September 30, 2025 was $42,277 and $116,597, respectively, and $30,563 and $82,935 for the three and nine months ended September 30, 2024, respectively. The increases of $11,714 (38%) and $33,662 (41%) for the three and nine months ended September 30, 2025 compared to the three and nine months ended September 30, 2024, respectively, were primarily due to increases in mobile lines as compared to the prior periods.

Business Services and Wholesale Revenue

Business services and wholesale revenue for the three and nine months ended September 30, 2025 was $361,886 and $1,087,219, respectively, and $366,355 and $1,100,506 for the three and nine months ended September 30, 2024, respectively. Business services and wholesale revenue is derived primarily from the sale of fiber-based telecommunications services to the business market, and the sale of broadband, video, telephony, and mobile services to SMB customers.

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Business services and wholesale revenue decreased $4,469 (1%) and $13,287 (1%) for the three and nine months ended September 30, 2025 compared to the three and nine months ended September 30, 2024, respectively. The decreases were primarily due to decreases in SMB customers and lower average recurring revenue per SMB customer, partially offset by increases in revenue from our Lightpath business.

News and Advertising Revenue

News and advertising revenue for the three and nine months ended September 30, 2025 was $105,863 and $327,044, respectively, and $117,682 and $328,687 for the three and nine months ended September 30, 2024, respectively. News and advertising revenue is primarily derived from the sale of (i) advertising inventory available on the programming carried on our cable television systems, as well as other systems (linear revenue), (ii) digital advertising, (iii) data analytics, and (iv) affiliation fees for news programming.

News and advertising revenue decreased $11,819 (10%) and $1,643 for the three and nine months ended September 30, 2025, as compared to the three and nine months ended September 30, 2024, respectively. The decreases were primarily due to a decrease in political advertising revenue, partially offset by an increase in revenue associated with an acquisition in the third quarter of 2024.

Other Revenue

Other revenue for the three and nine months ended September 30, 2025 was $17,637 and $54,435, respectively, and $14,689 and $39,161 for the three and nine months ended September 30, 2024, respectively. Other revenue includes revenue from sales of mobile equipment and other miscellaneous revenue streams. Other revenue increased $2,948 (20%) and $15,274 (39%) for the three and nine months ended September 30, 2025, as compared to the three and nine months ended September 30, 2024, respectively. The increases were primarily due to higher mobile equipment sales during 2025 as compared to the same periods in 2024.

Programming and Other Direct Costs

Programming and other direct costs for the three and nine months ended September 30, 2025 amounted to $639,012 and $1,972,233, respectively, and $711,330 and $2,174,677 for the three and nine months ended September 30, 2024, respectively. Programming and other direct costs include cable programming costs, which are costs paid to programmers (net of amortization of any incentives received from programmers for carriage) for cable content (including costs of VOD and pay-per-view) and are generally paid on a per-customer basis. These costs are impacted by changes in contractual rates, changes in the number of customers receiving certain programming services, new channel launches, and channel drops. These costs also include interconnection, call completion, circuit and transport fees paid to other telecommunication companies for the transport and termination of voice and data services, which typically vary based on rate changes and the level of usage by our customers. These costs also include franchise fees which are payable to the state governments and local municipalities where we operate and are primarily based on a percentage of certain categories of revenue derived from the provision of video service over our cable systems, which vary by state and municipality. These costs change in relation to changes in such categories of revenues or rate changes. Additionally, these costs include the cost of media for advertising spots sold, the cost of mobile devices sold to our customers and direct costs of providing mobile services.

The decreases in programming and other direct costs of $72,318 (10%) and $202,444 (9%) for the three and nine months ended September 30, 2025 as compared to the three and nine months ended September 30, 2024, respectively, were primarily attributable to the following:

| Line item | Three Months | Nine Months |
| --- | --- | --- |
| Decrease in programming costs primarily due to lower video customers, partially offset by net contractual rate increases. The year to date amount includes the decrease in costs related to the temporary interruption of certain video programming during the first quarter of 2025 | $(78,811) | $(247,362) |
| Increase in cost of goods sold related to our mobile business | 6,669 | 20,997 |
| Increase (decrease) in costs of media advertising spots for resale, primarily for digital and linear spots. | (1,001) | 12,954 |
| Other net increases | 825 | 10,967 |
|  | $(72,318) | $(202,444) |

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Programming costs

Programming costs for the three and nine months ended September 30, 2025 aggregated $471,116 and $1,473,392, respectively, and $549,928 and $1,720,755 for the three and nine months ended September 30, 2024, respectively. Our programming costs in 2025 will continue to be impacted by changes in the number of video customers, and by changes in programming rates, the latter of which we expect will increase.

Other Operating Expenses

Other operating expenses for the three and nine months ended September 30, 2025 amounted to $650,454 and $2,045,507, respectively, and $674,564 and $2,019,356 for the three and nine months ended September 30, 2024, respectively. Other operating expenses include staff costs and employee benefits including salaries of company employees and related taxes, benefits and other employee related expenses, as well as third-party labor costs. Other operating expenses also include network management and field service costs, which represent costs associated with the maintenance of our broadband network, including costs of certain customer connections and other costs associated with providing and maintaining services to our customers.

Customer installation and network repair and maintenance costs may fluctuate as a result of changes in the level of capitalizable activities, maintenance activities and the utilization of contractors as compared to employees. Costs associated with the initial deployment of new customer premise equipment necessary to provide services are capitalized. The costs of redeployment of customer premise equipment are expensed as incurred.

Other operating expenses also include costs related to our call center operations that handle customer inquiries and billing and collection activities, and sales and marketing costs, which include advertising production and placement costs associated with acquiring and retaining customers. These costs vary period to period and certain of these costs, such as sales and marketing, may increase with intense competition. Additionally, other operating expenses include various other administrative costs.

The increase (decrease) in other operating expenses of $(24,110) (4%) and $26,151 (1%) for the three and nine months ended September 30, 2025 as compared to the three and nine months ended September 30, 2024, respectively, were attributable to the following:

| Line item | Three Months | Nine Months |
| --- | --- | --- |
| Increase in repairs and maintenance costs (including software maintenance and data processing) | $9,917 | $21,398 |
| Net increase (decrease) in labor related costs and benefits, partially offset by lower truck rolls and an increase in capitalizable activity | (5,710) | 18,124 |
| Increase (decrease) in consulting and professional fees primarily related to our transformation strategy | (4,141) | 10,885 |
| Decrease in marketing expenses, partially offset by costs related to the temporary interruption of certain video programming for the nine month period | (12,163) | (1,325) |
| Decrease in certain managed service costs primarily due to a credit received during the second quarter of 2025 | (88) | (17,415) |
| Decrease in bad debt expense | (5,466) | (20,809) |
| Other net increases (decreases) | (6,459) | 15,293 |
|  | $(24,110) | $26,151 |

Restructuring, Impairments and Other Operating Items

Restructuring, impairments and other operating items for the three and nine months ended September 30, 2025 amounted to $1,568,120 and $1,656,568, respectively, as compared to $10,871 and $15,525 for the three and nine months ended September 30, 2024, respectively, and comprised the following:

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| Line item | Three Months Ended September 30, 2025 | Three Months Ended September 30, 2024 | Nine Months Ended September 30, 2025 | Nine Months Ended September 30, 2024 |
| --- | --- | --- | --- | --- |
| Impairment charge (a) | $1,611,308 | — | $1,611,308 | — |
| Litigation settlements and contract termination costs (b) (c) | — | — | 5,058 | (17,826) |
| Gain on disposal of assets (d) | (55,114) |  | (55,114) | — |
| Contractual payments for terminated employees (e) | 7,155 | 4,598 | 77,543 | 16,460 |
| Facility realignment costs | 258 | 718 | 1,090 | 4,265 |
| Impairment of right-of-use operating lease assets | 439 | 1,629 | 1,765 | 4,591 |
| Transaction costs and other | 4,074 | 3,926 | 14,918 | 8,035 |
|  | $1,568,120 | $10,871 | $1,656,568 | $15,525 |

(a)See [Note 8](#i1eb037f30ae64544a7b948b56da6036a_76) for a discussion of the impairment charge related to our indefinite-lived cable franchise rights.

(b)Amounts for the 2025 periods reflect estimated amounts for certain legal matters, including adjustments to these estimates, and costs to early terminate contracts with vendors.

(c)Amount for the nine months ended September 30, 2024 includes a credit resulting from the waiver of a payment obligation in June 2024 related to a patent infringement settlement agreement reached in the fourth quarter of 2022 and a credit resulting from the indemnification from a supplier related to this matter. Offsetting these credits was an expense, net of insurance recoveries, in connection with the settlement of other significant litigation and costs to early terminate contracts with vendors.

(d)In July 2025, we completed the sale of certain tower assets for $59,908 and recorded a gain of $55,114. In connection with the sale, we entered into a master license agreement with the buyer pursuant to which we maintain access to space on certain of those towers for an initial term of five years.

(e)Includes costs related to our workforce management initiatives, including costs related to a voluntary retirement program.

Depreciation and Amortization

Depreciation and amortization for the three and nine months ended September 30, 2025 amounted to $415,308 and $1,243,490, respectively, as compared to $386,342 and $1,170,503 for the three and nine months ended September 30, 2024, respectively.

The increase in depreciation and amortization of $28,966 (7%) and $72,987 (6%) for the three and nine months ended September 30, 2025 as compared to the three and nine months ended September 30, 2024, respectively, were due to increased depreciation related to asset additions in 2024 and 2025, partially offset by decreased expense related to assets that had become fully depreciated. In addition, the increase for the nine months ended September 30, 2025, as compared to the same period in 2024, included certain losses related to the disposal of plant and equipment and accelerated depreciation.

Adjusted EBITDA

Adjusted EBITDA amounted to $830,657 and $2,433,483 for the three and nine months ended September 30, 2025, respectively, as compared to $861,976 and $2,575,708 for the three and nine months ended September 30, 2024, respectively.

Adjusted EBITDA is a non-GAAP measure that is defined as net income (loss) excluding income taxes, non-operating income or expenses, gain (loss) on extinguishment of debt and write-off of deferred financing costs, gain (loss) on interest rate swap contracts, gain (loss) on derivative contracts, gain (loss) on investments and sale of affiliate interests, interest expense, net, depreciation and amortization, share-based compensation, restructuring, impairments and other operating items (such as significant legal settlements and contractual payments for terminated employees). See reconciliation of net income (loss) to Adjusted EBITDA above.

The decreases in Adjusted EBITDA of $31,319 (4%) and $142,225 (6%) for the three and nine months ended September 30, 2025 as compared to the three and nine months ended September 30, 2024, respectively, were due to decreases in revenue, partially offset by net decreases in operating expenses during 2025 (excluding depreciation and amortization, share-based compensation, restructuring, impairments and other operating items), as discussed above.

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Free Cash Flow (Deficit)

Free Cash Flow (Deficit) was $(178,072) and $(318,267) for the three and nine months ended September 30, 2025, respectively, as compared to $76,865 and $99,504 for the three and nine months ended September 30, 2024, respectively. The decreases in Free Cash Flow of $254,937 and $417,771 for the three and nine months ended September 30, 2025 as compared to the three and nine months ended September 30, 2024, respectively, were due to decreases in net cash provided by operating activities and increases in capital expenditures.

Interest Expense, net

Interest expense, net was $459,124 and $1,331,799 for the three and nine months ended September 30, 2025 as compared to $448,168 and $1,328,264 for the same periods in the prior year. The increase of $10,956 (2%) and $3,535 for the three and nine months ended September 30, 2025 as compared to the three and nine months ended September 30, 2024, respectively, were attributable to the following:

| Line item | Three Months | Nine Months |
| --- | --- | --- |
| Increase primarily due to changes in debt balances (primarily from the issuance of our receivables facility loan in July 2025), offset by changes in interest rates | $14,581 | $8,204 |
| Decreases related to higher interest income | (6,942) | (7,720) |
| Other net increases, primarily amortization of deferred financing costs and original issue discounts from the issuance of our receivables facility loan in July 2025 | 3,317 | 331 |
| Lower capitalized interest related to FTTH network construction | — | 2,720 |
|  | $10,956 | $3,535 |

Gain (Loss) on Interest Rate Swap Contracts, net

Gain (loss) on interest rate swap contracts, net was $1,147 and $(142) for the three and nine months ended September 30, 2025, respectively, compared to $(45,657) and $10,220 for the three and nine months ended September 30, 2024, respectively. These amounts primarily represent the change in the fair value of our interest rate swap contracts. These swap contracts are not designated as hedges for accounting purposes. The loss for the three months ended September 30, 2024 includes a $52,943 loss related to the early termination of the CSC Holdings interest rate swap agreements with an aggregate notional value of $3,000,000.

Loss on Extinguishment of Debt and Write-off of Deferred Financing Costs

Loss on extinguishment of debt and write-off of deferred financing costs amounted to $1,693 and $7,035 for the nine months ended September 30, 2025 and 2024, respectively, and related to the following:

| Line item | Nine months ended / September 30, 2025 | Nine months ended / September 30, 2024 |
| --- | --- | --- |
| Early termination of certain finance leases | $(1,693) | — |
| Repayment of CSC Holdings Term Loan B and Incremental Term Loan B-3 | — | (2,598) |
| Redemption of 5.250% Senior Notes and 5.250% Series B Senior Notes due June 2024 | — | (4,437) |
|  | $(1,693) | $(7,035) |

Other Expense, net

Other expense, net amounted to $591 and $2,388 for the three and nine months ended September 30, 2025, respectively, compared to $1,495 and $4,526 for the three and nine months ended September 30, 2024, respectively. These amounts include the non-service benefit or cost components of our pension plans.

Income Tax Benefit (Expense)

For the three and nine months ended September 30, 2025, we recorded a tax benefit of $1,397 and $65,008 on pre-tax loss of $1,623,352 and $1,846,220, respectively, resulting in an effective tax rate that was lower than the U.S. statutory tax rate. The lower rate is primarily due to the nonrecognition for tax purposes of the intangible impairment charge during the three and nine months ended September 30, 2025.

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For the three and nine months ended September 30, 2024, we recorded a tax benefit (expense) of $9,892 and $(42,045) on pre-tax income (loss) of $(50,727) and $10,016, respectively. For the three months ended September 30, 2024, the effective tax rate was lower than the U.S. statutory tax rate primarily due to the increase in tax deficiencies on share-based compensation. For the nine months ended September 30, 2024, the effective tax rate was higher than the U.S. statutory rate, due to increased state tax expense, primarily from a discrete adjustment of $19,472 from the enacted corporate tax rate increase in New Jersey. In addition, the higher rate for this nine month period is due to the impact of certain non-deductible expenses and tax deficiencies on share-based compensation.

### CSC HOLDINGS, LLC

The consolidated statements of operations of CSC Holdings are essentially identical to the consolidated statements of operations of Altice USA, except for the following (unaudited):

| Line item | Three Months Ended September 30, 2025 | Three Months Ended September 30, 2024 | Nine Months Ended September 30, 2025 | Nine Months Ended September 30, 2024 |
| --- | --- | --- | --- | --- |
| Net loss attributable to Altice USA stockholders | $(1,625,899) | $(42,970) | $(1,797,826) | $(48,802) |
| Adjustments to reconcile to net loss attributable to CSC Holdings' sole member: |  |  |  |  |
| Income tax benefit | 752 | 172 | 2,353 | 172 |
| Interest expense, net | (1,382) | (60) | (4,200) | (60) |
| Other operating expenses | (2,923) | (802) | (9,184) | (802) |
| Net loss attributable to CSC Holdings' sole member | $(1,629,452) | $(43,660) | $(1,808,857) | $(49,492) |

| Line item | Three Months Ended September 30, 2025 | Three Months Ended September 30, 2024 | Nine Months Ended September 30, 2025 | Nine Months Ended September 30, 2024 |
| --- | --- | --- | --- | --- |
| Altice USA Adjusted EBITDA | $830,657 | $861,976 | $2,433,483 | $2,575,708 |
| Adjustments to reconcile to CSC Holdings' Adjusted EBITDA: |  |  |  |  |
| Other operating expenses | (2,923) | (802) | (9,184) | (802) |
| CSC Holdings Adjusted EBITDA | $827,734 | $861,174 | $2,424,299 | $2,574,906 |

Refer to Item 2, "Management's Discussion and Analysis of Financial Condition and Results of Operations" herein.

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The following is a reconciliation of CSC Holdings' net loss to Adjusted EBITDA (unaudited):

| Line item | Three Months Ended September 30, 2025 | Three Months Ended September 30, 2024 | Nine Months Ended September 30, 2025 | Nine Months Ended September 30, 2024 |
| --- | --- | --- | --- | --- |
| Net loss | $(1,625,508) | $(41,525) | $(1,792,243) | $(32,719) |
| Income tax expense (benefit) | (2,149) | (10,064) | (67,361) | 41,873 |
| Other expense, net | 591 | 1,495 | 2,388 | 4,526 |
| Loss (gain) on interest rate swap contracts, net | (1,147) | 45,657 | 142 | (10,220) |
| Gain on investments and sale of affiliate interests | — | — | (5) | (292) |
| Loss on extinguishment of debt and write-off of deferred financing costs | — | — | 1,693 | 7,035 |
| Interest expense, net | 460,506 | 448,228 | 1,335,999 | 1,328,324 |
| Depreciation and amortization | 415,308 | 386,342 | 1,243,490 | 1,170,503 |
| Restructuring, impairments and other operating items | 1,568,120 | 10,871 | 1,656,568 | 15,525 |
| Share-based compensation | 12,013 | 20,170 | 43,628 | 50,351 |
| Adjusted EBITDA | $827,734 | $861,174 | $2,424,299 | $2,574,906 |

Refer to Item 2, "Management's Discussion and Analysis of Financial Condition and Results of Operations" above.

The following is a reconciliation of CSC Holdings' net cash flow from operating activities to Free Cash Flow (Deficit) (unaudited):

| Line item | Three Months Ended September 30, 2025 | Three Months Ended September 30, 2024 | Nine Months Ended September 30, 2025 | Nine Months Ended September 30, 2024 |
| --- | --- | --- | --- | --- |
| Net cash flows from operating activities | $148,108 | $333,595 | $750,819 | $1,040,051 |
| Less: Capital expenditures (cash) | 325,520 | 359,159 | 1,065,163 | 1,042,975 |
| Free Cash Flow (Deficit) | $(177,412) | $(25,564) | $(314,344) | $(2,924) |

The differences in Adjusted EBITDA and Free Cash Flow between CSC Holdings and Altice USA relate to the Captive which holds certain workers' compensation, general and automobile liabilities. See [Note 14](#i1eb037f30ae64544a7b948b56da6036a_94).

### CSC HOLDINGS RESTRICTED GROUP

For financing purposes, CSC Holdings is structured as a restricted group (the "CSC Holdings Restricted Group") and an unrestricted group, which includes certain designated subsidiaries. The CSC Holdings Restricted Group is comprised of CSC Holdings and all of its wholly-owned operating subsidiaries, except for Cablevision Lightpath and certain of its designated subsidiaries, and Cablevision Funding and certain special-purpose entities formed or transferred to Cablevision Funding in connection with the Loan and Security Agreement (defined below). These CSC Holdings Restricted Group subsidiaries are subject to the covenants and restrictions of the CSC Holdings’ credit facility and indentures governing the notes issued by CSC Holdings.

Presented below is financial information that reflects a reconciliation of net income (loss) to Adjusted EBITDA for the three and nine months ended September 30, 2025 and 2024 (unaudited).

48

_Three Months Ended September 30, 2025_

| Line item | Restricted Group | Unrestricted Group | Eliminations | CSC Holdings |
| --- | --- | --- | --- | --- |
| Net income (loss) | $(1,662,552) | $37,614 | $(570) | $(1,625,508) |
| Income tax expense (benefit) | (13,212) | 11,063 | — | (2,149) |
| Other expense, net | 415,854 | 43,515 | 581 | 459,950 |
| Depreciation and amortization | 357,101 | 58,218 | (11) | 415,308 |
| Restructuring, impairments and other operating items | 1,566,432 | 1,688 | — | 1,568,120 |
| Share-based compensation | 12,013 | — | — | 12,013 |
| Adjusted EBITDA | $675,636 | $152,098 | — | $827,734 |

_Nine Months Ended September 30, 2025_

| Line item | Restricted Group | Unrestricted Group | Eliminations | CSC Holdings |
| --- | --- | --- | --- | --- |
| Net income (loss) | $(1,849,907) | $59,617 | $(1,953) | $(1,792,243) |
| Income tax expense (benefit) | (82,264) | 14,903 | — | (67,361) |
| Other expense, net | 1,247,567 | 90,663 | 1,987 | 1,340,217 |
| Depreciation and amortization | 1,128,965 | 114,559 | (34) | 1,243,490 |
| Restructuring, impairments and other operating items | 1,654,117 | 2,451 | — | 1,656,568 |
| Share-based compensation | 43,628 | — | — | 43,628 |
| Adjusted EBITDA | $2,142,106 | $282,193 | — | $2,424,299 |

_Three Months Ended September 30, 2024_

| Line item | Restricted Group | Unrestricted Group | Eliminations | CSC Holdings |
| --- | --- | --- | --- | --- |
| Net income (loss) | $(44,935) | $3,655 | $(245) | $(41,525) |
| Income tax expense (benefit) | (10,728) | 664 | — | (10,064) |
| Other expense, net | 463,125 | 31,999 | 256 | 495,380 |
| Depreciation and amortization | 361,391 | 24,962 | (11) | 386,342 |
| Restructuring, impairments and other operating items | 10,389 | 482 | — | 10,871 |
| Share-based compensation | 20,170 | — | — | 20,170 |
| Adjusted EBITDA | $799,412 | $61,762 | — | $861,174 |

_Nine Months Ended September 30, 2024_

| Line item | Restricted Group | Unrestricted Group | Eliminations | CSC Holdings |
| --- | --- | --- | --- | --- |
| Net income (loss) | $(60,163) | $29,299 | $(1,855) | $(32,719) |
| Income tax expense | 37,573 | 4,300 | — | 41,873 |
| Other expense, net | 1,259,799 | 67,686 | 1,888 | 1,329,373 |
| Depreciation and amortization | 1,093,611 | 76,925 | (33) | 1,170,503 |
| Restructuring, impairments and other operating items | 12,409 | 3,116 | — | 15,525 |
| Share-based compensation | 50,251 | 100 | — | 50,351 |
| Adjusted EBITDA | $2,393,480 | $181,426 | — | $2,574,906 |

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### LIQUIDITY AND CAPITAL RESOURCES

Altice USA has no operations independent of its subsidiaries. Funding for our subsidiaries has generally been provided by (i) cash flow from their respective operations, (ii) cash on hand, (iii) borrowings under the CSC Holdings and Lightpath revolving credit facilities and (iv) proceeds from the issuance of debt securities and borrowings under syndicated term loan facilities or receivables facility loans. Our decision as to the use of cash generated from operating activities, cash on hand, borrowings under revolving credit facilities or accessing the capital or credit markets has been based upon an ongoing review of the funding needs of the business, the optimal allocation of cash resources, the timing of cash flow generation, the cost of borrowing under revolving credit facilities, and market conditions (including cost and availability of capital) in the debt capital and syndicated loan markets. We calculate net leverage ratios for our CSC Holdings Restricted Group and Lightpath debt silos as net debt to L2QA EBITDA (Adjusted EBITDA for the two most recent consecutive fiscal quarters multiplied by 2.0). We calculate the net leverage ratio for our NYC ABS debt silo as net debt to annualized run-rate net cash flow based on recent collections (multiplying the most recent three-month period of collections by four).

We expect to utilize Free Cash Flow and availability under the CSC Holdings Restricted Group and Lightpath revolving credit facilities, as well as future refinancing transactions, to further extend the maturities of, or reduce the principal on, our debt obligations. The timing and terms of any refinancing transactions will be subject to, among other factors, market conditions. Additionally, we may, from time to time, depending on market conditions and other factors, use cash on hand and the proceeds from other borrowings to repay the outstanding debt through open market purchases, privately negotiated purchases, tender offers, exchange offers or redemptions, or engage in similar transactions.

We believe existing cash balances, operating cash flows and availability under the CSC Holdings Restricted Group and Lightpath revolving credit facilities will provide adequate funds to support our current operating plan, make planned capital expenditures and fulfill our debt service requirements for the next twelve months. However, our ability to fund our operations, make planned capital expenditures, make scheduled payments on our indebtedness and repay at, or refinance our indebtedness prior to, maturity depends on our future operating performance and cash flows and our ability to access the capital and credit markets, which, in turn, are subject to prevailing economic conditions and to financial, business and other factors, some of which are beyond our control. Competition, market disruptions or a deterioration in economic conditions could lead to lower demand for our products, as well as lower levels of advertising, and increased incidence of customers' inability to pay for the services we provide. These events, among others, could adversely impact our results of operations, cash flows and financial position. Although we currently believe amounts available under the CSC Holdings Restricted Group and Lightpath revolving credit facilities will be available when, and if, needed, we can provide no assurance that access to such funds will not be impacted by adverse conditions in the financial markets or other conditions. The obligations of the financial institutions under the CSC Holdings Restricted Group and Lightpath revolving credit facilities are several and not joint and, as a result, a funding default by one or more institutions does not need to be made up by the others.

In the longer term, we may not be able to generate sufficient cash from operations to fund anticipated capital expenditures, meet all existing future contractual payment obligations and repay our debt at maturity. As a result, we will be dependent on our ability to access the capital and credit markets to borrow additional amounts, issue additional debt or equity or refinance existing debt obligations. We intend to raise significant amounts of funding over the next several years to fund capital expenditures, repay existing obligations and meet other obligations, and the failure to do so successfully could adversely affect our business. If we are unable to do so, we will need to take other actions including deferring capital expenditures, selling assets, seeking strategic investments from third parties or reducing discretionary uses of cash.

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### Debt Outstanding

The following tables summarize the carrying value of our outstanding debt, net of unamortized deferred financing costs, discounts and premiums (excluding accrued interest) as of September 30, 2025, as well as interest expense for the nine months ended September 30, 2025:

| Line item | CSC Holdings Restricted Group | Receivables Facility Loan | Lightpath | Altice USA/CSC Holdings |
| --- | --- | --- | --- | --- |
| Debt outstanding (a)(b): |  |  |  |  |
| Credit facility debt | $6,881,307 | — | $668,645 | $7,549,952 |
| Senior guaranteed notes | 10,679,227 | — | — | 10,679,227 |
| Senior secured notes | — | — | 446,940 | 446,940 |
| Senior notes | 6,168,982 | — | 411,124 | 6,580,106 |
| Subtotal | 23,729,516 | — | 1,526,709 | 25,256,225 |
| Receivables Facility Loan | — | 893,547 | — | 893,547 |
| Finance lease obligations | 82,612 | — | 5,234 | 87,846 |
| Total debt | $23,812,128 | $893,547 | $1,531,943 | $26,237,618 |
| Interest expense (a)(b): |  |  |  |  |
| Credit facility debt, senior notes, receivables facility loan, finance leases and supply chain financing | $1,252,279 | $22,145 | $72,197 | $1,346,621 |

(a)Excludes principal balance of notes payable to affiliate reflected on CSC Holdings balance sheet and the related interest expense which are eliminated in the Altice USA consolidated financial statements. See [Note 14](#i1eb037f30ae64544a7b948b56da6036a_94).

(b)Supply chain financing obligations were repaid in full during the three months ended June 30, 2025.

### Payment Obligations Related to Debt

As of September 30, 2025, total amounts payable in connection with our outstanding obligations, including related interest, but excluding finance lease obligations and the impact of our interest swap agreements, are as follows:

| Line item | CSC Holdings Restricted Group | Receivables Facility Loan | Lightpath | Altice USA/CSC Holdings |
| --- | --- | --- | --- | --- |
| 2025 | $371,118 | $27,594 | $13,944 | $412,656 |
| 2026 | 1,696,659 | 108,512 | 95,852 | 1,901,023 |
| 2027 | 7,633,032 | 106,241 | 1,207,068 | 8,946,341 |
| 2028 (a) | 5,889,520 | 133,280 | 438,344 | 6,461,144 |
| 2029 | 4,385,844 | 129,551 | — | 4,515,395 |
| Thereafter | 9,128,219 | 946,094 | — | 10,074,313 |
| Total | $29,104,392 | $1,451,272 | $1,755,208 | $32,310,872 |

(a)Includes $1,906,850 principal amount related to the CSC Holdings' Incremental Term Loan B-6 that is due on the earlier of (i) January 15, 2028 and (ii) April 15, 2027 if, as of such date, any Incremental Term Loan B-5 borrowings are still outstanding, unless the Incremental Term Loan B-5 maturity date has been extended to a date falling after January 15, 2028.

For financing purposes, we have three debt silos: CSC Holdings, Lightpath and NYC ABS (defined below). The CSC Holdings silo is structured as a restricted group (the "CSC Holdings Restricted Group") and an unrestricted group, which includes certain designated subsidiaries. The CSC Holdings Restricted Group is comprised of CSC Holdings and substantially all of its wholly-owned operating subsidiaries, excluding Cablevision Lightpath and certain of its designated subsidiaries, and Cablevision Funding and certain special-purpose entities formed or transferred to Cablevision Funding in connection with the Loan and Security Agreement. These CSC Holdings Restricted Group subsidiaries are subject to the covenants and restrictions of CSC Holdings' credit facility and indentures governing the notes issued by CSC Holdings. The Lightpath silo includes all of its operating subsidiaries which are subject to the covenants and restrictions of the Lightpath credit facility and indentures governing the notes issued by Lightpath. The

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NYC ABS silo consists of special-purpose entities that hold, among other things, certain receivables generated by our Bronx and Brooklyn service area and network assets located in that area, and is subject to covenants and restrictions set forth in the Loan and Security Agreement.

### CSC Holdings Restricted Group

Sources of cash for the CSC Holdings Restricted Group include primarily cash flow from the operations of the businesses in the CSC Holdings Restricted Group, borrowings under its credit facility and issuance of securities in the capital markets, contributions from Altice USA, and, from time to time, distributions or loans from its subsidiaries. The CSC Holdings Restricted Group's principal uses of cash include: capital spending, in particular, the capital requirements associated with the upgrade of our digital broadband, video and telephony services, including costs to build our FTTH network; debt service; other corporate expenses and changes in working capital; and investments that it may fund from time to time.

### CSC Holdings Credit Facilities

In October 2015, a wholly-owned subsidiary of Altice USA, which merged with and into CSC Holdings on June 21, 2016, entered into a senior secured credit facility, which, as amended, currently provides for U.S. dollar term loans in an aggregate principal amount of $5,001,942, comprising (i) an incremental term loan amount of $3,000,000 ($2,835,000 outstanding at September 30, 2025) (the "Incremental Term Loan B-5") and (ii) an incremental term loan in an aggregate amount of $2,001,942 ($1,951,894 outstanding at September 30, 2025) (the "Incremental Term Loan B-6"), and (iii) U.S. dollar revolving loan commitments in an aggregate principal amount of $2,475,000 ($2,125,000 outstanding at September 30, 2025) (the "CSC Revolving Credit Facility" and, together with the Incremental Term Loan B-5 and Incremental Term Loan B-6, the "CSC Credit Facilities"), which are governed by a credit facilities agreement entered into by, inter alios, CSC Holdings, certain lenders party thereto and JPMorgan Chase Bank, N.A. as administrative agent and security agent (as amended, restated, supplemented or otherwise modified from time to time, the "CSC Credit Facilities Agreement").

During the nine months ended September 30, 2025, CSC Holdings borrowed $875,000 under the CSC Revolving Credit Facility and repaid $450,000 of amounts outstanding under the CSC Revolving Credit Facility.

At September 30, 2025, $161,514 of the CSC Revolving Credit Facility was restricted for certain letters of credit issued on our behalf and $188,486 was undrawn and available, subject to covenant limitations.

As of September 30, 2025, CSC Holdings was in compliance with applicable financial covenants under the CSC Credit Facilities.

See [Note 9](#i1eb037f30ae64544a7b948b56da6036a_79) to our consolidated financial statements for further information regarding the CSC Credit Facilities Agreement.

Senior Guaranteed Notes and Senior Notes

As of September 30, 2025, CSC Holdings was in compliance with applicable financial covenants under each respective indenture by which the senior guaranteed notes and senior notes were issued.

### NYC ABS

### Loan and Security Agreement

On July 16, 2025, Cablevision Funding LLC (“Cablevision Funding”), a newly formed, bankruptcy remote, indirect wholly owned subsidiary of the Company, entered into an asset-backed security transaction (the “NYC ABS”), in accordance with a receivables facility loan and security agreement, by and among Cablevision Funding, certain guarantors party thereto (collectively, the “Guarantors”), Goldman Sachs Bank USA and certain funds managed by TPG Angelo Gordon, as initial lenders, Goldman Sachs Bank USA and TPG Angelo Gordon, as structuring agents, Alter Domus (US) LLC, as administrative agent, and Citibank, N.A., as collateral agent (the “Collateral Agent”) and account bank (the “Loan and Security Agreement”). The obligations under the Loan and Security Agreement are secured by substantially all of the assets of Cablevision Funding and its subsidiary, Cablevision Systems New York City LLC (“NYC AssetCo”), and the Guarantors, consisting of, among other things, certain receivables generated by our Bronx and Brooklyn service area and network assets located in that area.

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The Loan and Security Agreement provides for, among other things, initial term loan commitments in an aggregate principal amount of $1,000,000, issued with an original issue discount of 400 basis points. The loans made pursuant to the initial term loan commitments (the “Initial Term Loans”) will (i) mature on January 16, 2031; (ii) accrue interest at a fixed rate per annum equal to 8.875%; and (iii) amortize monthly at a rate of 2.0% per annum up to and including January 15, 2028, and 5.0% per annum thereafter. The proceeds from the Initial Term Loans (after original issue discount, fees and other deferred financing costs) amounted to $894,063, of which a portion was used to fund Cablevision Funding’s interest reserve account with the minimum interest reserve amount in accordance with the terms of the Loan and Security Agreement, and pay certain costs associated with the transactions. The remaining proceeds are being used to finance working capital, to prepay indebtedness and for other general corporate purposes.

Pursuant to the terms of the Loan and Security Agreement, restricted cash is held in bank accounts controlled by the Collateral Agent for the purpose of paying interest, certain fees and scheduled principal and for satisfying the required liquidity reserve amounts. As of September 30, 2025, in blocked accounts under the Loan and Security Agreement, we had short-term restricted cash of $81,908 and long-term restricted cash of $22,704.

### Lightpath

Sources of cash for Lightpath include existing cash balances, operating cash flows from its operating subsidiaries and availability under its revolving credit facility.

### Lightpath Credit Facility

Lightpath is party to an amended credit agreement (the "Amended Credit Agreement") which provides a term loan in an aggregate principal amount of $676,000 ($670,868 outstanding at September 30, 2025) and revolving loan commitments (the "Lightpath Revolving Credit Facility") in an aggregate principal amount of $115,000. As of September 30, 2025, $96,462 of the $115,000 from the Lightpath Revolving Credit Facility was undrawn and available.

Under the Amended Credit Agreement, $95,000 of the aggregate principal amount of the Lightpath Revolving Credit Facility will mature on the earlier of (i) June 15, 2027 and (ii) the date that is five business days after any Extension Breach Date (as defined in the Amended Credit Agreement). The remaining $20,000 of the aggregate principal amount of the Lightpath Revolving Credit Facility will mature on November 30, 2025 (as defined in the Amended Credit Agreement).

In January 2025, Lightpath entered into a refinancing amendment (the "Refinancing Amendment") to its Amended Credit Agreement, which refinanced all of the term loans outstanding immediately prior to giving effect to the Refinancing Amendment in order to reduce the applicable margins with respect thereto from (i) with respect to any alternate base rate loan, 2.25% per annum to 2.00% per annum and (ii) with respect to any Term SOFR loan, 3.25% per annum to 3.00%. Additionally, after giving effect to the Refinancing Amendment, interest on borrowings made under the refinanced term loan facility are calculated without giving effect to the spread adjustments (0.11448%, 0.26161% and 0.42826% for interest periods of one, three and six months, respectively) initially provided for under the Amended Credit Agreement.

As of September 30, 2025, Lightpath was in compliance with applicable financial covenants under the Amended Credit Agreement and with applicable financial covenants under each respective indenture by which its senior secured notes and senior notes were issued.

See [Note 9](#i1eb037f30ae64544a7b948b56da6036a_79) to our consolidated financial statements for further information on the above debt obligations.

### Lightpath Senior Secured Notes and Senior Notes

As of September 30, 2025, Lightpath was in compliance with applicable financial covenants under each respective indenture by which the senior secured notes and senior notes were issued.

Fair Value of Debt

At September 30, 2025, the fair value of our fixed rate debt, comprised of our senior guaranteed and senior secured notes, our senior notes and receivables facility loan of $12,838,002 was lower than its carrying value of $18,599,820 by $5,761,818. The fair value of these financial instruments is estimated based on reference to quoted market prices for these or comparable securities or in the case of our receivables facility loan based on a discounted cash flow model. Our floating rate borrowings, comprised of our term loans and revolving credit facilities bear interest in reference to current SOFR-based market rates and thus their principal values approximate fair value. The effect of a hypothetical 100 basis point decrease in interest rates prevailing at September 30, 2025 would increase the estimated

53

fair value of our fixed rate debt by $387,102 to $13,225,104. This estimate is based on the assumption of an immediate and parallel shift in interest rates across all maturities.

### Interest Rate Risk

To manage interest rate risk, we have from time to time entered into interest rate swap contracts to adjust the proportion of total debt that is subject to variable and fixed interest rates. Such contracts effectively fix the borrowing rates on floating rate debt to provide an economic hedge against the risk of rising rates and effectively convert fixed rate borrowings to variable rates to permit us to realize lower interest expense in a declining interest rate environment. We monitor the financial institutions that are counterparties to our interest rate swap contracts and we only enter into interest rate swap contracts with financial institutions that are rated investment grade. All such contracts are carried at their fair market values on our consolidated balance sheets, with changes in fair value reflected in the consolidated statements of operations. See [Note 10](#i1eb037f30ae64544a7b948b56da6036a_82) to our consolidated financial statements for a summary of interest rate swap contracts outstanding at September 30, 2025. Our outstanding interest rate swap contracts are not designated as hedges for accounting purposes. Accordingly, the changes in the fair value of these interest rate swap contracts are recorded through the statements of operations. For the three and nine months ended September 30, 2025, we recorded a gain (loss) on interest rate swap contracts of $1,147 and $(142), respectively, and had a fair value at September 30, 2025 of $2,414 recorded as other assets, long-term and $511 recorded as other liabilities, long-term on the consolidated balance sheet.

As of September 30, 2025, we did not hold and have not issued derivative instruments for trading or speculative purposes.

### Capital Expenditures

The following table presents our capital expenditures:

| Line item | Three Months Ended September 30, 2025 | Three Months Ended September 30, 2024 | Nine Months Ended September 30, 2025 | Nine Months Ended September 30, 2024 |
| --- | --- | --- | --- | --- |
| Customer premise equipment | $89,002 | $118,256 | $297,024 | $297,520 |
| Network infrastructure | 135,425 | 164,361 | 404,819 | 392,837 |
| Support and other | 42,842 | 29,153 | 194,809 | 191,402 |
| Business Services | 58,251 | 47,389 | 168,511 | 161,216 |
| Capital expenditures (cash basis) | 325,520 | 359,159 | 1,065,163 | 1,042,975 |
| Right-of-use assets acquired in exchange for finance lease obligations | 22,629 | 13,631 | 40,831 | 28,708 |
| Notes payable issued to vendor for the purchase of equipment and other assets | — | — | — | 50,642 |
| Change in accrued and unpaid purchases and other | (19,774) | 37,544 | (59,209) | 47,746 |
| Capital expenditures (accrual basis) | $328,375 | $410,334 | $1,046,785 | $1,170,071 |

Customer premise equipment includes expenditures for drop cable, fiber gateways, modems, routers, and other equipment installed at customer locations. Network infrastructure includes (i) scalable infrastructure, such as headend and related equipment, (ii) line extensions, such as fiber and coaxial cable, amplifiers, electronic equipment, and design and engineering costs to expand the network, and (iii) upgrade and rebuild, including costs to modify or replace existing segments of the network. Support and other capital expenditures include costs associated with the replacement or enhancement of non-network assets, such as software systems, vehicles, facilities, and office equipment. Business services capital expenditures include primarily equipment, support and other costs related to our fiber-based telecommunications business serving enterprise customers.

New Tax Legislation

On July 4, 2025, H.R.1, the One Big Beautiful Bill Act (“OBBBA”) was signed into law. Three primary changes impacting us include (i) permanently allowing 100% bonus depreciation of qualifying tangible assets (which is expected to accelerate the timing of depreciation deductions for these assets), (ii) permanently increasing the deductibility of interest expense based on an EBITDA versus EBIT standard, and (iii) permanently eliminating the requirement to capitalize and amortize U.S.-based research and experimental expenditures over five years (making these expenditures fully deductible in the period incurred). These provisions had an immaterial impact to income tax expense, however a reduction in current income tax liabilities (cash taxes) of approximately $102,000 was recorded,

54

offset by an increase in deferred tax liabilities by the same amount.

Asset Sale

In July 2025, we completed the sale of certain tower assets for $59,908. We recorded a gain of $55,114 on this transaction which is reflected in restructuring, impairments and other operating items in our statement of operations. In connection with the sale, we entered into a master license agreement with the buyer pursuant to which we maintain access to space on certain of those towers for an initial term of five years.

### Cash Flow Discussion

Altice USA

Operating Activities

Net cash provided by operating activities amounted to $746,896 for the nine months ended September 30, 2025 compared to $1,142,479 for the nine months ended September 30, 2024.

The decrease in net cash provided by operating activities of $395,583 in 2025 as compared to 2024 resulted from a decrease in net income before depreciation and amortization and other non-cash items of $327,440 and a decrease of $68,143 due to changes in working capital (including an increase in interest payments of $93,568, offset by a decrease in tax payments of $103,619) as a result of the timing of payments of liabilities, and collections of accounts receivable, among other items.

Investing Activities

Net cash used in investing activities for the nine months ended September 30, 2025 was $1,010,693 compared to $1,045,980 for the nine months ended September 30, 2024. Our investing activities consisted primarily of capital expenditures of $1,065,163 and $1,042,975 for the nine months ended September 30, 2025 and 2024, respectively. Investing activities for the nine months ended September 30, 2025 also included proceeds from the sale of equipment, net of costs of disposal of $62,729 (including $59,908 related to the sale of certain tower assets).

Financing Activities

Net cash provided by financing activities amounted to $1,050,283 for the nine months ended September 30, 2025, compared to net cash used in financing activities of $148,143 for the nine months ended September 30, 2024.

In 2025, our financing activities consisted primarily of proceeds from long-term debt of $1,835,000, partially offset by the repayment of debt of $577,619, principal payments on finance lease obligations of $98,347, additions to deferred financing costs of $65,937, distributions to noncontrolling interests of $26,452, and other cash payments of $16,362.

In 2024, our financing activities consisted primarily of the repayment of debt of $3,891,175, principal payments on finance lease obligations of $99,426 and other cash payments of $32,542, partially offset by proceeds from long-term debt of $3,875,000.

CSC Holdings

Operating Activities

Net cash provided by operating activities amounted to $750,819 for the nine months ended September 30, 2025 compared to $1,040,051 for the nine months ended September 30, 2024.

The decrease in cash provided by operating activities of $289,232 in 2025 as compared to 2024 resulted from a decrease in net income before depreciation and amortization and other non-cash items of $340,053, partially offset by an increase of $50,821 due to changes in working capital (including an increase in interest payments of $97,530, offset by a decrease in tax payments of $103,619) as a result of the timing of payments of liabilities and collections of accounts receivable, among other items.

Investing Activities

Net cash used in investing activities for the nine months ended September 30, 2025 was $1,010,693 compared to $1,045,980 for the nine months ended September 30, 2024. CSC Holdings' investing activities consisted primarily of capital expenditures of $1,065,163 and $1,042,975 for the nine months ended September 30, 2025 and 2024, respectively. Investing activities for the nine months ended September 30, 2025 also included proceeds from the sale of equipment, net of costs of disposal of $62,729 (including $59,908 related to the sale of certain tower assets).

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Financing Activities

Net cash provided by financing activities amounted to $1,045,407 for the nine months ended September 30, 2025, compared to net cash used in financing activities of $55,643 for the nine months ended September 30, 2024.

In 2025, CSC Holdings' financing activities consisted primarily of proceeds from long-term debt of $1,835,000, partially offset by repayment of debt of $583,619, principal payments on finance lease obligations of $98,347, additions to deferred financing costs of $65,937, distributions to noncontrolling interests of $26,452, distributions to Altice USA of $9,738 and other cash payments of $5,500.

In 2024, CSC Holdings' financing activities consisted primarily of repayment of debt of $3,891,175, principal payments on finance lease obligations of $99,426, and other cash payments of $32,542, partially offset by proceeds from long-term debt of $3,875,000 and proceeds from notes payable to affiliates and related parties of $92,500.

### Commitments and Contingencies

As of September 30, 2025, our commitments and contingencies not reflected on our balance sheet decreased to approximately $4,300,000 as compared to approximately $4,900,000 as of December 31, 2024. This decrease relates primarily to payments made in 2025 pursuant to programming commitments and a reduction in programming commitments due to a decrease in the number of video customers as of September 30, 2025 as compared to December 31, 2024.

The preparation of our consolidated financial statements requires us to make estimates that affect the reported amounts of assets, liabilities, revenue and expenses. For a complete discussion of the accounting judgments and estimates that we have identified as critical in the preparation of our consolidated financial statements, please refer to our Management's Discussion and Analysis of Financial Condition and Results of Operations in our Annual Report.

## Item 3. Quantitative and Qualitative Disclosures About Market Risk

Information relating to market risk is included in Item 2, "Management’s Discussion and Analysis of Financial Condition and Results of Operations" under the captions "Fair Value of Debt" and "Interest Rate Risk."

## Item 4. Controls and Procedures

Evaluation of Disclosure Controls and Procedures

An evaluation was carried out under the supervision and with the participation of Altice USA's management, including our Chief Executive Officer and Chief Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures (as defined under SEC rules). Based upon that evaluation, the Chief Executive Officer and Chief Financial Officer concluded that the design and operation of these disclosure controls and procedures were effective as of September 30, 2025.

Changes in Internal Control

During the nine months ended September 30, 2025, there were no changes in our internal control over financial reporting that materially affected or are reasonably likely to materially affect our internal control over financial reporting.

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PART II. OTHER INFORMATION

## Item 1. Legal Proceedings

Refer to [Note 15](#i1eb037f30ae64544a7b948b56da6036a_97) to our consolidated financial statements included in this Quarterly Report on Form 10-Q for a discussion of our legal proceedings.

## Item 5. Other Information

Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year

Effective November 7, 2025, the Company will change its corporate name (the “Name Change”) to Optimum Communications, Inc., pursuant to a Certificate of Amendment to the Company’s Fourth Amended and Restated Certificate of Incorporation (the “Charter Amendment”) filed with the Delaware Secretary of State on November 5, 2025. Pursuant to Delaware law, a stockholder vote was not necessary to effectuate the Name Change and the Name Change does not affect the rights of the Company’s stockholders. The only change to the Company’s Fourth Amended and Restated Certificate of Incorporation is the change of the Company’s corporate name from Altice USA, Inc. to Optimum Communications, Inc.

The Company also amended and restated its Bylaws (the “Third Amended and Restated Bylaws”), effective November 7, 2025, to reflect the Name Change and certain ministerial matters. These additional matters include updating references to the Company’s stockholders’ agreement to reflect the execution of the Amended and Restated Stockholder Agreement, dated as of August 2, 2023, and updating the bylaws for the changes reflected therein; removing references to “A4,” which the Company understands has been reorganized and no longer exists in its prior corporate form; and modifying certain limited consent provisions by Next Alt in connection with the quorum for board meetings.

The foregoing summaries of the Charter Amendment and Third Amended and Restated Bylaws are qualified in their entirety by reference to the full text of these documents, copies of which are filed as Exhibit 3.1 and Exhibit 3.2, respectively, with this Quarterly Report on Form 10-Q and incorporated herein by reference.

In connection with the Name Change, the Company also announced that it intends for its shares of Class A common stock to cease trading under the ticker symbol “ATUS” and begin trading under the new ticker symbol “OPTU” on the New York Stock Exchange, which the Company expects to be effective on November 19, 2025. The Company’s shares of Class A common stock will continue to trade under its existing CUSIP number following the change of ticker symbol, and the CUSIP number assigned to the Company’s shares of Class B common stock will remain unchanged.

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## Item 6. Exhibits

| EXHIBIT NO. | DESCRIPTION |
| --- | --- |
| 3.1 | Form of Certificate of Incorporation of the Company (as amended). |
| 3.2 | Form of Bylaws of the Company (as amended). |
| 10.1 | Receivables Facility Loan and Security Agreement, dated as of July 16, 2025, by and among Cablevision Funding LLC, certain guarantors party thereto, Goldman Sachs Bank USA and certain funds managed by TPG Angelo Gordon, as initial lenders, Goldman Sachs Bank USA and TPG Angelo Gordon, as structuring agents, Alter Domus (US) LLC, as administrative agent, and Citibank, N.A., as collateral agent and account bank (incorporated herein by reference to Exhibit 10.1 of the Company’s Current Report on Form 8-K (File No. 001-38126) filed on July 17, 2025). |
| 31.1 | Section 302 Certification of the CEO. |
| 31.2 | Section 302 Certification of the CFO. |
| 32 | Section 906 Certifications of the CEO and CFO. |
| 101 | The following financial statements from Altice USA's Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2025 filed with the Securities and Exchange Commission on November 6, 2025 formatted in XBRL (eXtensible Business Reporting Language): (i) the Consolidated Balance Sheets; (ii) the Consolidated Statements of Operations; (iii) the Consolidated Statements of Comprehensive Loss; (iv) the Consolidated Statements of Stockholders' Deficiency; (v) the Consolidated Statements of Cash Flows; and (vi) the Combined Notes to Consolidated Financial Statements. |
| 104 | The cover page from this Quarterly Report on Form 10-Q formatted in Inline XBRL. |

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

ALTICE USA, INC.

Date: November 6, 2025 /s/ Marc Sirota

By: Marc Sirota  Chief Financial Officer

59

---

## EX-3.1

SEC source: [alticeusainc-certificateof.htm](https://www.sec.gov/Archives/edgar/data/1702780/000170278025000010/alticeusainc-certificateof.htm)

Exhibit 3.1

STATE OF DELAWARE

CERTIFICATE OF AMENDMENT OF

FOURTH AMENDED AND RESTATED CERTIFICATE OF INCORPORATION

OF ALTICE USA, INC.

Altice USA, Inc. (the “Corporation”), a corporation organized and existing under and by virtue of the General Corporation Law of the State of Delaware (the “DGCL”), does hereby certify:

FIRST: The name of the Corporation is “Altice USA, Inc.”

SECOND: This Certificate of Amendment (this “Amendment”) to the Corporation’s Fourth Amended and Restated Certificate of Incorporation (the “Certificate of Incorporation”) has been duly adopted in accordance with the provisions of Section 242 of the DGCL, including through resolutions of the Board of Directors of the Corporation declaring the Amendment advisable.

THIRD: That Article I of the Certificate of Incorporation is hereby amended and restated in its entirety to read as follows:

“ARTICLE I  
NAME

The name of the Corporation is Optimum Communications, Inc.”

FOURTH: This Amendment shall be effective November 7, 2025 at 12:00pm.

IN WITNESS WHEREOF, Altice USA, Inc. has caused this Certificate of Amendment to be signed by its duly authorized officer this 5th day of November 2025.

ALTICE USA, INC.

By: /s/Michael Olsen

Name: Michael Olsen

Title: General Counsel and Chief Corporate Responsibility Officer

ALTICE USA, INC.

FOURTH AMENDED AND RESTATED CERTIFICATE OF INCORPORATION

Altice USA, Inc. (the “Corporation”), a corporation organized and existing under and by virtue of the provisions of the General Corporation Law of the State of Delaware (the “DGCL”), does hereby certify:

FIRST: That the Corporation was originally incorporated pursuant to the DGCL on September 14, 2015, under the name Neptune Holding US Corp.

SECOND: The Fourth Amended and Restated Certificate of Incorporation of the Corporation in the form attached hereto as Exhibit A (the “Restated Certificate”) has been duly adopted in accordance with the provisions of Sections 228, 242 and 245 of the DGCL by the directors and stockholders of the Corporation.

THIRD: The Restated Certificate restates, integrates and amends the provisions of the Certificate of Incorporation of the Corporation, as previously amended and restated.

FOURTH: The Restated Certificate so adopted reads in full as set forth in Exhibit A attached hereto and is incorporated herein by reference.

IN WITNESS WHEREOF, Altice USA, Inc. has caused this Fourth Amended and Restated Certificate of Incorporation to be executed by a duly authorized officer of the Corporation as of the 13th day of June 2025.

ALTICE USA, INC.

By: /s/ Michael Olsen

Name: Michael Olsen

Title: General Counsel and Chief Corporate Responsibility Officer

2

EXHIBIT A

FOURTH AMENDED AND RESTATED

CERTIFICATE OF INCORPORATION

OF

ALTICE USA, INC.

* * * * *

ARTICLE I  
NAME

The name of the Corporation is Altice USA, Inc.

ARTICLE II  
REGISTERED OFFICE AND AGENT

The address of the registered office of the Corporation in the State of Delaware is Corporation Service Company, 251 Little Falls Drive, in the City of Wilmington, County of New Castle, Delaware 19808. The name of the registered agent of the Corporation at such address is Corporation Service Company.

ARTICLE III  
CORPORATE PURPOSE

The purpose of the Corporation is to engage in any lawful act or activity for which corporations may be organized under the DGCL.

ARTICLE IV  
CAPITAL STOCK

(1) Authorized Shares. This Corporation is authorized to issue capital stock to be designated “Common Stock” and “Preferred Stock.” A total of 9,000,000,000 shares of Common Stock are authorized to be issued, $0.01 par value per share, 4,000,000,000 of which are designated “Class A Common Stock,” 1,000,000,000 of which are designated “Class B Common Stock” and 4,000,000,000 of which are designated “Class C Common Stock.” A total of 100,000,000 shares of Preferred Stock are authorized to be issued, $0.01 par value per share. The number of authorized shares of Common Stock or any class of Common Stock may be increased or decreased (but not below the number of shares of Common Stock then outstanding) by the affirmative vote of the holders of a majority of the voting power of the Class A Common Stock and Class B Common Stock, voting together as a single class.

3

(2) Preferred Stock. The Preferred Stock may be issued from time to time in one or more series. The Board of Directors of the Corporation (the “Board”) is hereby expressly authorized to provide for the issue of all or any of the shares of the Preferred Stock in one or more series, and to fix the number of shares and to determine or alter for each such series, such voting powers, full or limited, or no voting powers, and such designations, preferences, and relative, participating, optional, or other rights and such qualifications, limitations, or restrictions thereof, as shall be stated and expressed in the resolution or resolutions adopted by the Board providing for the issuance of such shares and as may be permitted by the DGCL. The Board is also expressly authorized to increase or decrease the number of shares of any series of Preferred Stock subsequent to the issuance of shares of that series of Preferred Stock, but not below the number of shares of such series of Preferred Stock then outstanding. In case the number of shares of any series of Preferred Stock shall be decreased in accordance with the foregoing sentence, the shares constituting such decrease shall resume the status that they had prior to the adoption of the resolution originally fixing the number of shares of such series of Preferred Stock. The number of authorized shares of Preferred Stock may be increased or decreased (but not below the number of shares thereof then outstanding) by the affirmative vote of the holders of a majority of the voting power of the Corporation’s outstanding capital stock entitled to vote thereon, without a separate vote of the holders of the Preferred Stock, or of any series thereof, unless a vote of any such holders is required pursuant to the terms of any certificate of designation filed with respect to any series of Preferred Stock.

(3) Voting Rights of Class A Common Stock and Class B Common Stock. Except as otherwise expressly provided by this Fourth Amended and Restated Certificate of Incorporation or required by applicable law, the holders of Class A Common Stock are entitled to one vote per share and the holders of Class B Common Stock are entitled to twenty-five votes per share on any matter submitted to a vote of the stockholders. Except as otherwise expressly provided by this Fourth Amended and Restated Certificate of Incorporation or required by applicable law, the holders of shares of Class A Common Stock and Class B Common Stock shall (i) at all times vote together as a single class on all matters (including the election of directors) submitted to a vote of the stockholders of the Corporation, (ii) be entitled to notice of any stockholders’ meeting in accordance with the Corporation’s Bylaws and (iii) be entitled to vote upon such matters and in such manner as may be provided by applicable law.

(4) No Voting Rights for Class C Common Stock. Except as otherwise expressly provided by this Fourth Amended and Restated Certificate of Incorporation or required by applicable law, the holders of shares of Class C Common Stock are not entitled to vote on any matter submitted to a vote of the stockholders.

(5) Dividends and Distributions. Subject to preferences that may apply to any shares of Preferred Stock outstanding at the time, the holders of outstanding shares of Class A Common Stock, Class B Common Stock and Class C Common Stock are entitled to share equally, on a per share basis, in any dividend or distribution of funds legally available if the Board, in its discretion, determines to declare and pay dividends and only then at the times and in the amounts that the Board may determine. In the event that a dividend is paid in the form of shares of capital stock of the Corporation or rights to acquire or securities convertible into or

4

exchangeable for shares of capital stock of the Corporation, then, in the Board’s discretion, either (i) the holders of shares of Class A Common Stock, Class B Common Stock and Class C Common Stock shall receive the identical class of securities on an equal per share basis or (ii) (a) the holders of shares of Class A Common Stock shall receive Class A Common Stock, or securities convertible into or exchangeable for shares of Class A Common Stock or rights to acquire such securities, as the case may be; (b) the holders of shares of Class B Common Stock shall receive Class B Common Stock, or securities convertible into or exchangeable for shares of Class B Common Stock or rights to acquire such securities, as the case may be; and (c) the holders of shares of Class C Common Stock shall receive Class C Common Stock, or securities convertible into or exchangeable for shares of Class C Common Stock or rights to acquire such securities, as the case may be; in each such case in this clause (ii), in an equal amount per share.

(6) Distributions of Another Corporation’s Securities. Unless otherwise approved by the Board, where the securities of another corporation are distributed, they must only be distributed to holders of Class A Common Stock, Class B Common Stock and Class C Common Stock on the basis that:

(a) the holders of Class A Common Stock, Class B Common Stock and Class C Common Stock receive the identical class of securities; or

(b) subject to the remainder of this Section (6), the holders of Class A Common Stock, Class B Common Stock and Class C Common Stock each receive different classes of securities; or

(c) subject to the remainder of this Section (6), the holders of one or more class of Common Stock receive a different class of securities than the holders of all other classes of Common Stock,

in each case, on an equal per share basis, and, to holders of any shares of Preferred Stock outstanding at the time, on such terms as the Board may determine.

To the extent that a dividend is declared and paid pursuant to paragraph (b) or (c) of this Section (6) then:

(i) the holders of Class B Common Stock shall receive the securities having the highest number of votes per share (or, in the case of convertible securities, the securities convertible into, exchangeable for or evidencing the right to purchase, the securities with the highest number of votes per share) and the holders of each other class of Common Stock shall receive the securities having the lesser number of votes per share (or, in the case of convertible securities, the securities convertible into, exchangeable for or evidencing the right to purchase, the securities with the lesser number of votes per share):

(A) in each case, without regard to whether such voting rights differ to a greater or lesser extent than the corresponding differences in

5

voting rights (and related differences in designation, conversion and rights to distributions pursuant to this Article IV) between the Class A Common Stock, the Class B Common Stock and the Class C Common Stock; and

(B) provided that the different classes of securities (and, in the case of securities convertible into, exchangeable for or evidencing the right to purchase securities, the securities resulting from such conversion, exchange or purchase) do not differ in any respect other than with respect to their relative voting rights (and related differences in designation, conversion, redemption and rights to distributions pursuant to this Article IV); and

(ii) in the event that the holders of Class A Common Stock receive a class of securities having different rights than those received by the holders of Class C Common Stock:

(A) the rights of the different classes of securities (and, in the case of securities convertible into, exchangeable for or evidencing the right to purchase securities, the securities resulting from such conversion, exchange or purchase) may not differ in any respect other than with respect to their relative voting rights (and related differences in designation, conversion, redemption and rights to distributions pursuant to this Article IV); and

(B) the relevant classes of securities shall be distributed to the holders of Class A Common Stock and Class C Common Stock such that the relative voting rights (and related differences in designation, conversion, redemption, rights to dividends in specie comprising securities and rights to distributions pursuant to this Article IV) of the class of securities (or, in the case of convertible securities, the securities convertible into, exchangeable for or evidencing the right to purchase, the securities resulting from such conversion, exchange or purchase) to be received by the holders of Class A Common Stock on the one hand and Class C Common Stock on the other hand corresponds to the extent practicable to the relative voting rights (and related differences in designation, conversion, redemption and rights to distributions pursuant to this Article IV) as the Class A Common Stock compares to the Class C Common Stock.

(7) Liquidation, Dissolution or Winding Up. Upon dissolution, liquidation or winding up of the Corporation, the assets legally available for distribution to stockholders will be distributable ratably among the holders of Class A Common Stock, Class B Common Stock and Class C Common Stock, subject to prior satisfaction of all outstanding debt and liabilities and the preferential rights and payment of liquidation preferences, if any, on any outstanding shares of

6

preferred stock unless different treatment of such class with respect to distributions upon any such liquidation, dissolution or winding up is approved in advance by the affirmative vote of the holders of a majority of the voting power of the Class A Common Stock and Class B Common Stock, each voting separately as a class.

(8) Equal Status. Except as otherwise expressly provided by this Fourth Amended and Restated Certificate of Incorporation or required by applicable law, shares of Class A Common Stock, Class B Common Stock and Class C Common Stock have the same rights and privileges and rank equally, share ratably and are identical in all respects as to all matters. In the event of (i) a consolidation or merger of the Corporation with or into any other entity; (ii) any tender offer or exchange offer by any person or entity pursuant to an agreement to which the Corporation is a party or that the Board recommends; or (iii) a sale by Next Alt S.à r.l., a Luxembourg private company with limited liability or any successor thereto (“Next Alt”), or any of its subsidiaries that holds shares of Class B Common Stock or, solely in the event shares of Class B Common Stock have been distributed to Patrick Drahi (“Patrick Drahi”), his heirs or entities or trusts directly or indirectly under his or their control or formed for his or their benefit or any Affiliate of Patrick Drahi, his heirs or entities or trusts directly or indirectly under his or their control or formed for his or their benefit (together with Next Alt and any of its subsidiaries that hold such shares, the “Next Alt Holders”), a sale by Patrick Drahi, such heirs or such trusts or entities or such Affiliates, in one or a series of related transactions, whether to a single purchaser or purchasers constituting a “group” as defined in Section 13(d) of the Securities Exchange Act of 1934, of shares of Class B Common Stock representing (a) at least 40% of the votes entitled to be cast by all stockholders entitled to vote in an election of directors and (b) a greater number of votes than the Next Alt Holders collectively are entitled to cast immediately following such sale, the holders of Class A Common Stock, Class B Common Stock and Class C Common Stock shall be entitled to participate proportionately and to receive, or to elect to receive, the same form of consideration and the same amount of consideration on a per share basis. Notwithstanding the foregoing, if any securities consideration is paid, distributed or offered to holders of shares of Class A Common Stock, Class B Common Stock or Class C Common Stock in any such transaction, such consideration may differ only in terms of voting rights such that the holder of a share of Class B Common Stock shall receive or have the right to elect to receive the securities having the highest number of votes per share (or, in the case of convertible securities, the securities convertible into, exchangeable for or evidencing the right to purchase, the securities with the highest number of votes per share) and the holders of each other class of Common Stock shall receive or have the right to elect to receive the securities having the lesser number of votes per share (or, in the case of convertible securities, the securities convertible into, exchangeable for or evidencing the right to purchase, the securities with the lesser number of votes per share), and any securities that the holder of a share of Class C Common Stock shall receive or have the right to elect to receive shall either have no voting rights or the same voting rights as the securities that a holder of Class A Common Stock shall receive or have the right to elect to receive.

(9) Subdivisions, Combinations or Reclassifications. Shares of Class A Common Stock, Class B Common Stock or Class C Common Stock may not be subdivided, combined or reclassified unless the shares of the other classes are concurrently therewith proportionately

7

subdivided, combined or reclassified in a manner that maintains the same proportionate equity ownership between the holders of the outstanding Class A Common Stock, Class B Common Stock and Class C Common Stock on the record date for such subdivision, combination or reclassification.

(10) No Preemptive or Similar Rights. Shares of the Class A Common Stock, Class B Common Stock and Class C Common Stock are not entitled to preemptive rights and are not subject to conversion or redemption provisions, except for the conversion provisions with respect to the Class B Common Stock and Class C Common Stock described in this Article IV. Any one or more series of Preferred Stock will have only such preemptive or similar rights granted to the holders thereof by the Board pursuant to Section (2) of this Article IV.

(11) Voluntary Conversion of Class B Common Stock. Except as otherwise expressly provided by this Fourth Amended and Restated Certificate of Incorporation or required by applicable law, each share of Class B Common Stock shall be convertible into one fully paid and nonassessable share of Class A Common Stock at the option of the holder thereof at any time upon written notice to the Corporation. Before any holder of Class B Common Stock shall be entitled to voluntarily convert any shares of such Class B Common Stock, such holder shall surrender the certificate or certificates therefor (if any), duly endorsed, at the principal corporate office of the Corporation or of any transfer agent for the Class B Common Stock, and shall give written notice to the Corporation at its principal corporate office, of the election to convert the same and shall state therein the name or names (i) in which the certificate or certificates representing the shares of Class A Common Stock into which the shares of Class B Common Stock are so converted are to be issued if such shares are certificated or (ii) in which such shares are to be registered in book entry if such shares are uncertificated. The Corporation shall, no later than ten (10) calendar days after receipt of the written notice, issue and take action to deliver at such office to such holder of Class B Common Stock, or to the nominee or nominees of such holder, a certificate or certificates representing the number of shares of Class A Common Stock to which such holder shall be entitled as aforesaid (if such shares are certificated) or, if such shares are uncertificated, register such shares in book-entry form (such date of the issuance, in the case of certificated shares, or registration, in the case of uncertificated shares, the “Conversion Date”). The Corporation shall not be liable for any losses incurred by any person resulting from any delay in effecting any conversion under this Section (11). Such conversion shall be deemed to have been made immediately prior to the close of business on the Conversion Date, and the person or persons entitled to receive the shares of Class A Common Stock issuable upon such conversion shall be treated for all purposes as the record holder or holders of such shares of Class A Common Stock as of such Conversion Date. Each share of Class B Common Stock that is converted pursuant to this Section (11) shall be retired by the Corporation and shall not be available for reissuance.

(12) Automatic Conversion and Transfers of Class B Common Stock and Class C Common Stock. Except as otherwise expressly provided by this Fourth Amended and Restated Certificate of Incorporation or required by applicable law, there shall be no automatic conversion of shares of Class B Common Stock upon transfer under any circumstances. The disparate voting rights of the shares of Class B Common Stock will not change upon transfer unless first

8

converted into shares of Class A Common Stock. Immediately prior to any conversion of all outstanding shares of Class B Common Stock into shares of Class A Common Stock, the holders of a majority of the voting power of the Class B Common Stock at the time of such conversion, may, in connection with such conversion, require that each share of Class C Common Stock shall automatically be converted into one share of Class A Common Stock on a date fixed by the Board, which date shall be no less than 61 days and no more than 180 days following the conversion of all outstanding shares of Class B Common Stock. In the event of such conversion of shares of Class C Common Stock into Class A Common Stock, each outstanding stock certificate that, immediately prior to such conversion, represented one or more shares of Class C Common Stock subject to such conversion shall, upon such conversion, be deemed to represent an equal number of shares of Class A Common Stock, without the need for surrender or exchange thereof. The Corporation shall, upon the request of any holder whose shares of Class C Common Stock have been converted into shares of Class A Common Stock as a result of an automatic conversion and upon surrender by such holder to the Corporation of the outstanding certificate(s) formerly representing such holder’s shares of Class C Common Stock (if any), issue and deliver to such holder certificate(s) representing the shares of Class A Common Stock into which such holder’s shares of Class C Common Stock were converted as a result of automatic conversion (if such shares are certificated) or, if such shares are uncertificated, register such shares in book-entry form. Each share of Class C Common Stock that is converted pursuant to this Section (12) of this Article IV shall thereupon be retired by the Corporation and shall not be available for reissuance.

(13) Reservation of Stock. The corporation shall at all times reserve and keep available out of its authorized but unissued shares of Class A Common Stock, solely for the purpose of effecting the conversion of the shares of Class B Common Stock and Class C Common Stock, such number of shares of Class A Common Stock as shall from time to time be sufficient to effect the conversion of all outstanding shares of Class B Common Stock and Class C Common Stock into shares of Class A Common Stock.

(14) Protective Provision. The Corporation shall not, whether by merger, consolidation or otherwise, amend, alter, repeal or waive Sections (3)-(14) of this Article IV (or adopt any provision inconsistent therewith), without first obtaining the affirmative vote of the holders of a majority of the voting power of the Class B Common Stock, voting as a separate class, in addition to any other vote required by applicable law, this Fourth Amended and Restated Certificate of Incorporation or the Corporation’s Bylaws.

ARTICLE V  
CORPORATE OPPORTUNITIES

(1) In recognition and anticipation that:

(a) Patrick Drahi and certain directors, principals, officers, employees and/or other representatives of Next Alt or any successor thereto (each such director, principal, officer, employee and/or other representative, an “Next Alt Group Representative” and collectively, the “Next Alt Group Representatives) may serve as directors, officers or agents of the Corporation;

9

(b) Patrick Drahi, Next Alt, the Next Alt Group Representatives and their respective Affiliates may now engage, may continue to engage and may in the future engage in the same or similar activities or related lines of business as those in which the Corporation, directly or indirectly, may engage and/or other business activities that overlap with or compete with those in which the Corporation, directly or indirectly, may engage; and

(c) members of the Board who were or are in the future nominated by Next Alt pursuant to the Stockholder Agreement (“Designated Directors”) may now engage, may continue to engage and may in the future engage in the same or similar activities or related lines of business as those in which the Corporation, directly or indirectly, may engage and/or other business activities that overlap with or compete with those in which the Corporation, directly or indirectly, may engage;

the provisions of this Article V are set forth to regulate and define the conduct of certain affairs of the Corporation with respect to certain classes or categories of business opportunities that may involve Patrick Drahi, Next Alt, the Next Alt Group Representatives and the Designated Directors, or their respective Affiliates, and the powers, rights, duties and liabilities of the Corporation and its directors, officers and stockholders in connection therewith. As used herein, “Stockholder Agreement” refers to that certain Amended and Restated Stockholder Agreement entered into by and between the Corporation and Next Alt, as amended from time to time.

(2) For purposes of this Fourth Amended and Restated Certificate of Incorporation, unless otherwise explicitly stated, (i) the term “Affiliate” shall mean (a) in respect of Next Alt, any Person that, directly or indirectly, is controlled by Next Alt, controls Next Alt or is under common control with Next Alt and shall include any principal, member, director, partner, stockholder, officer, employee or other representative of any of the foregoing (other than the Corporation and any entity that is controlled by the Corporation); (b) in respect of Patrick Drahi, any Person that, directly or indirectly, is controlled by Patrick Drahi (other than the Corporation and any entity that is controlled by the Corporation); (c) in respect of any Next Alt Group Representative, any Person that, directly or indirectly, is controlled by such Next Alt Group Representative (other than the Corporation and any entity that is controlled by the Corporation); (d) in respect of any Designated Director, any Person that, directly or indirectly, is controlled by such Designated Director (other than the Corporation and any entity that is controlled by the Corporation); and (e) in respect of the Corporation, any Person that, directly or indirectly, is controlled by the Corporation; and (ii) the term “Person” shall mean any individual, corporation, general or limited partnership, limited liability company, joint venture, trust, association or any other entity.

(3) Unless an opportunity to engage in a business opportunity in the same or similar business activities or lines of business in which the Corporation or any of its Affiliates engages or is reasonably likely to engage arises in or is predominantly related to North America (each such opportunity a “North America Business Opportunity”), to the fullest extent permitted by law, none of (i) Patrick Drahi; (ii) Next Alt; (iii) any Next Alt Group Representative; (iv) any

10

Designated Director (including any Designated Director who serves as an officer of the Corporation); or (v) any of the foregoing Persons’ Affiliates (the Persons identified in (i), (ii), (iii), (iv) and (v) above being referred to, collectively, as “Identified Persons” and, individually, as an “Identified Person”) shall have any duty to refrain from, directly or indirectly, (a) engaging in the same or similar business activities or lines of business in which the Corporation or any of its Affiliates engages or is reasonably likely to engage in or (b) otherwise competing with the Corporation or any of its Affiliates, and, to the fullest extent permitted by law, no Identified Person shall be liable to the Corporation or its stockholders or to any Affiliate of the Corporation for breach of any fiduciary duty solely by reason of the fact that such Identified Person engages in any such activities.

(4) Except with respect to any North America Business Opportunity, to the fullest extent permitted by law, the Corporation hereby renounces any interest or expectancy in, or right to be offered an opportunity to participate in, any business opportunity which may be a corporate opportunity for an Identified Person and the Corporation or any of its Affiliates.

(5) In the event that any Identified Person acquires knowledge of a potential transaction or other business opportunity which may be a corporate opportunity for itself, himself or herself and the Corporation or any of its Affiliates, and which is not a North America Business Opportunity, such Identified Person shall, to the fullest extent permitted by law, have no duty to communicate or offer such transaction or other business opportunity to the Corporation or any of its Affiliates and, to the fullest extent permitted by law, shall not be liable to the Corporation or its stockholders or to any Affiliate of the Corporation for breach of any fiduciary duty as a stockholder, director or officer of the Corporation solely by reason of the fact that such Identified Person pursues or acquires such corporate opportunity for itself, himself or herself, or offers or directs such corporate opportunity to another Person.

(6) To the fullest extent permitted by law, any Person purchasing or otherwise acquiring or holding any interest in any shares of capital stock of the Corporation shall be deemed to have notice of and to have consented to the provisions of this Article V.

(7) Neither the amendment nor repeal of this Article V, nor the adoption of any provision of, or any other amendment to, this Fourth Amended and Restated Certificate of Incorporation, nor, to the fullest extent permitted by the DGCL, any modification of law, shall eliminate, reduce or otherwise adversely affect any right or protection of a current or former Identified Person in respect of any act or omission occurring prior to the time of such amendment, repeal, adoption or modification.

ARTICLE VI  
MATTERS RELATING TO DIRECTORS

(1) Director Powers. The business and affairs of the Corporation shall be managed by or under the directions of the Board. In addition to the powers and authority expressly conferred upon the Board by statute or by this Fourth Amended and Restated Certificate of Incorporation or the Corporation’s Bylaws, the Board is hereby empowered to exercise all such powers and do all such things as may be exercised or done by the Corporation.

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(2) Number of Directors. The authorized number of directors of the Board comprising the entire Board shall be not less than seven nor more than twelve. An increase or decrease in the outer limits of this range of directors requires the affirmative vote of the holders of a majority of the voting power of the Corporation’s outstanding capital stock entitled to vote thereon. Within the foregoing limits, and subject to the rights of the holders of any series of Preferred Stock to elect additional directors under specified circumstances, the number of directors shall be fixed from time to time exclusively by resolution adopted by a majority of the Board. No decrease in the authorized number of directors of the Board shall shorten the term of any incumbent director.

(3) Quorum. A quorum is required for the transaction of business at any meeting of the Board. A majority of the number of directors then in office shall be required to constitute a quorum; provided that so long as Next Alt is entitled to nominate three or more directors to the Board pursuant to the Stockholder Agreement, such quorum must include (i) the Chairman of the board of managers of Next Alt and two other directors nominated to the Board pursuant to the Stockholder Agreement by Next Alt or (ii) in the event the Chairman of the board of managers of Next Alt is not a member of the Board, three directors nominated to the Board pursuant to the Stockholder Agreement by Next Alt; provided, however, that, in the case of clause (i) of this Section (3) of this Article VI, if consented to in writing (including by email) by Next Alt prior to the applicable meeting of the Board, three directors nominated to the Board pursuant to the Stockholder Agreement by Next Alt shall be required to constitute a quorum, none of which need be the Chairman of the board of managers of Next Alt. In the event Next Alt is entitled to nominate one or two directors to the Board pursuant to the Stockholder Agreement and such directors are elected to the Board by the stockholders of the Corporation, a quorum must include each of the directors nominated to the Board pursuant to the Stockholder Agreement by Next Alt.

(4) Vacancies and Newly Created Directorships. Subject to the rights granted to the holders of any one or more series of Preferred Stock then outstanding or the rights granted pursuant to the Stockholder Agreement, any newly created directorship on the Board that results from an increase in the number of directors within the range set forth in Section (2) of this Article VI and any vacancy occurring on the Board (whether by death, resignation, retirement, disqualification, removal or other cause) shall be filled by a majority of the directors then in office, although less than a quorum, by a sole remaining director or by the stockholders. Any director elected to fill a vacancy or newly created directorship shall hold office until the next annual meeting of stockholders for the election of directors and until his or her successor shall be elected and qualified, or until his or her earlier death, resignation, retirement, disqualification or removal.

(5) Term and Removal. Each director shall hold office until such director’s successor is elected and qualified, or until such director’s earlier death, resignation or removal. Any director may resign at any time upon notice to the Corporation given in writing or by any electronic transmission permitted in the Corporation’s Bylaws or in accordance with applicable law. Subject to the rights granted to the holders of any one or more series of Preferred Stock then outstanding or the rights granted pursuant to the Stockholder Agreement, stockholders

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holding a majority of the voting power of the Corporation’s outstanding capital stock entitled to vote thereon may remove any or all directors with or without cause.

(6) Vote by Ballot. Elections of directors of the Corporation need not be by written ballot, except and to the extent provided in the Corporation’s Bylaws.

ARTICLE VII  
DIRECTOR AND OFFICER LIABILITY AND INDEMNIFICATION  
OF DIRECTORS, OFFICERS AND OTHERS

(1) To the fullest extent permitted by the DGCL as it now exists and as it may hereafter be amended, no director or officer of the Corporation shall be personally liable to the Corporation or its stockholders for monetary damages for breach of fiduciary duty as a director or as an officer.

(2) The Corporation shall indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (other than an action by or in the right of the Corporation) by reason of the fact that the person is or was a director or officer of the Corporation, or is or was serving at the request of the Corporation as a director or officer of another corporation, partnership, joint venture, trust or other enterprise, against expenses (including attorneys’ fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by the person in connection with such action, suit or proceeding if the person acted in good faith and in a manner the person reasonably believed to be in, or not opposed to, the best interests of the Corporation, and, with respect to any criminal action or proceeding, had no reasonable cause to believe the person’s conduct was unlawful; provided, that, except for proceedings to enforce rights to indemnification or advancement of expenses, the Corporation shall not be obligated to indemnify any such director or officer (or his or her heirs, executors or personal or legal representatives) in connection with a proceeding (or part thereof) initiated by such person unless such proceeding (or part thereof) was authorized or consented to by the Board. The termination of any action, suit or proceeding by judgment, order, settlement, conviction, or upon a plea of nolo contendere or its equivalent, shall not, of itself, create a presumption that the person did not act in good faith and in a manner which the person reasonably believed to be in or not opposed to the best interests of the Corporation, and, with respect to any criminal action or proceeding, has reasonable cause to believe that the person’s conduct was unlawful.

(3) The Corporation shall indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action or suit by or in the right of the Corporation to procure a judgment in its favor by reason of the fact that the person is or was a director or officer of the Corporation, or is or was serving at the request of the Corporation as a director or officer of another corporation, partnership, joint venture, trust or other enterprise against expenses (including attorneys’ fees) actually and reasonably incurred by the person in connection with the defense or settlement of such action or suit if the person acted in good faith and in a manner the person reasonably believed to be in or not opposed to the best interests of the Corporation and except that no indemnification shall be made in respect of any claim, issue or

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matter as to which such person shall have been adjudged to be liable to the Corporation unless and only to the extent that the Court of Chancery of the State of Delaware or the court in which such action or suit was brought shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, such person is fairly and reasonably entitled to indemnity for such expenses which the Court of Chancery or such other court shall deem proper; provided, that, except for proceedings to enforce rights to indemnification or advancement of expenses, the Corporation shall not be obligated to indemnify any such director or officer (or his or her heirs, executors or personal or legal representatives) in connection with a proceeding (or part thereof) initiated by such person unless such proceeding (or part thereof) was authorized or consented to by the Board.

(4) To the extent that a present or former director or officer of the Corporation has been successful on the merits or otherwise in defense of any action, suit or proceeding referred to in Sections (2) and (3) of this Article VII, or in defense of any claim, issue or matter therein, such person shall be indemnified against expenses (including attorneys’ fees) actually and reasonably incurred by such person in connection therewith.

(5) Any indemnification under Sections (2) and (3) of this Article VII (unless ordered by a court) shall be made by the Corporation only as authorized in the specific case upon a determination that indemnification of the present or former director or officer is proper in the circumstances because the person has met the applicable standard of conduct set forth in such Sections (2) and (3). Such determination shall be made, with respect to a person who is a director or officer of the Corporation at the time of such determination, (a) by a majority vote of the directors who are not parties to such action, suit or proceeding, even though less than a quorum, or (b) by a committee of such directors designated by majority vote of such directors, even though less than a quorum, or (c) if there are no such directors, or if such directors so direct, by independent legal counsel in a written opinion, or (d) by the stockholders of the Corporation.

(6) Expenses (including attorneys’ fees) incurred by a current officer or director of the Corporation in defending any civil, criminal, administrative or investigative action, suit or proceeding shall be paid by the Corporation in advance of the final disposition of such action, suit or proceeding upon receipt of an undertaking by or on behalf of such director or officer to repay such amount if it shall ultimately be determined that such person is not entitled to be indemnified by the Corporation as authorized in this Article VII. Such expenses (including attorneys’ fees) incurred by former directors and officers of the Corporation or by persons serving at the request of the Corporation as directors or officers of another corporation, partnership, joint venture, trust or other enterprise may be so paid upon such terms and conditions, if any, as the Corporation deems appropriate.

(7) The indemnification and advancement of expenses provided by, or granted pursuant to, the other Sections of this Article VII shall not be deemed exclusive of any other rights to which those seeking indemnification or advancement of expenses may be entitled under any law, bylaw, agreement, vote of stockholders or disinterested directors or otherwise, both as to action in such person’s official capacity and as to action in another capacity while holding such office.

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(8) The Corporation may purchase and maintain insurance on behalf of any person who is or was an Affiliate, director or officer of the Corporation, or is or was serving at the request of the Corporation as a director or officer of another corporation, partnership, joint venture, trust or other enterprise against any liability asserted against such person and incurred by such person in any such capacity, or arising out of such person’s status as such, whether or not the Corporation would have the power to indemnify him against such liability under Section 145 of the DGCL.

(9) For purposes of this Article VII, references to “the Corporation” shall include, in addition to the resulting corporation, any constituent corporation (including any constituent of a constituent) absorbed in a consolidation or merger which, if its separate existence had continued, would have had power and authority to indemnify its directors and officers so that any person who is or was a director or officer of such constituent corporation, or is or was serving at the request of such constituent corporation as a director or officer of another corporation, partnership, joint venture, trust or other enterprise, shall stand in the same position under this Article VII with respect to the resulting or surviving corporation as such person would have with respect to such constituent corporation if its separate existence had continued.

(10) For purposes of this Article VII, references to “other enterprises” shall include employee benefit plans; references to “fines” shall include any excise taxes assessed on a person with respect to an employee benefit plan; and references to “serving at the request of the Corporation” shall include any service as a director or officer of the Corporation which imposes duties on, or involves services by, such director or officer with respect to any employee benefit plan, its participants or beneficiaries; and a person who acted in good faith and in a manner such person reasonably believed to be in the interest of the participants and beneficiaries of an employee benefit plan shall be deemed to have acted in a manner “not opposed to the best interests of the Corporation” as referred to in this Article VII.

(11) The indemnification and advancement of expenses provided by, or granted pursuant to, this Article VII shall, unless otherwise provided when authorized or ratified, continue as to a person who has ceased to be a director or officer and shall inure to the benefit of the heirs, executors and administrators of such a person.

(12) Any repeal or modification of this Article VII shall only be prospective and shall not affect the rights or protections or increase the liability of any director or officer under this Article VII in effect at the time of the alleged occurrence of any act or omission to act giving rise to liability or indemnification.

(13) The Corporation may, to the extent authorized from time to time by the Board, provide rights to indemnification and to the advancement of expenses to employees and agents of the Corporation similar to those conferred in this Article VII to directors and officers of the Corporation.

(14) The Corporation hereby acknowledges that certain of its directors and officers (the “Specified Persons”) may have rights to indemnification and advancement of expenses provided by Next Alt or its Affiliates (directly or through insurance obtained by any such entity)

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(collectively, the “Next Alt Indemnitors”). The Corporation hereby agrees and acknowledges that (i) it is the indemnitor of first resort with respect to the Specified Persons to the extent the underlying matter arises from or is related to the Specified Person’s service as a director on the Board or as an officer of the Corporation, (ii) it shall be required to advance the full amount of expenses incurred by the Specified Persons, as required by the terms of this Article VII, without regard to any rights the Specified Persons may have against the Next Alt Indemnitors and (iii) it irrevocably waives, relinquishes and releases the Next Alt Indemnitors from any and all claims against the Next Alt Indemnitors for contribution, subrogation or any other recovery of any kind in respect thereof. The Corporation further agrees that no advancement or payment by the Next Alt Indemnitors on behalf of the Corporation with respect to any claim for which the Specified Persons have sought indemnification from the Corporation shall affect the foregoing and the Next Alt Indemnitors shall have a right of contribution and/or be subrogated to the extent of such advancement or payment to all of the rights of recovery of the Specified Persons against the Corporation. These rights shall be a contract right.

ARTICLE VIII  
MATTERS RELATING TO STOCKHOLDERS

(1) Annual Meeting of Stockholders. An annual meeting of stockholders for the election of directors to succeed those whose terms expire and for the transaction of such other business as may properly come before the meeting, shall be held at such place, if any, on such date, and at such time as shall be fixed exclusively by resolution of the Board or a duly authorized committee thereof.

(2) Special Meeting of Stockholders. Subject to the rights of the holders of any series of Preferred Stock with respect to actions by the holders of shares of such series, special meetings of the stockholders of the Corporation may be called only by the Board, the Chairman of the Board or stockholders holding a majority of the voting power of the Corporation’s outstanding capital stock, and may not be called by any other person or persons. Business transacted at special meetings of stockholders shall be confined to the purpose or purposes stated in the notice of meeting.

(3) Action by Written Consent of Stockholders. Notwithstanding anything to the contrary in this Fourth Amended and Restated Certificate of Incorporation or the Corporation’s Bylaws, any action required or permitted to be taken at any annual or special meeting of stockholders of the Corporation may be taken without a meeting, without prior notice and without a vote, if a consent or consents in writing, setting forth the action so taken, shall be signed by the holders of outstanding capital stock having not less than the minimum number of votes that would be necessary to authorize or take such action at a meeting at which all shares entitled to vote thereon were present and voted and shall be delivered to the Corporation by delivery to its registered office in the State of Delaware, its principal place of business or an officer or agent of the Corporation having custody of the books in which proceedings of meetings of stockholders are recorded. Delivery made to the Corporation’s registered office shall be made by hand, overnight courier or certified or registered mail with return receipt requested.

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ARTICLE IX  
DGCL SECTION 203 AND BUSINESS COMBINATION

The Corporation hereby expressly elects not to be governed by Section 203 of the DGCL.

ARTICLE X  
MISCELLANEOUS

If any provision or provisions of this Fourth Amended and Restated Certificate of Incorporation shall be held to be invalid, illegal or unenforceable as applied to any circumstance for any reason whatsoever: (i) the validity, legality and enforceability of such provisions in any other circumstance and of the remaining provisions of this Fourth Amended and Restated Certificate of Incorporation (including, without limitation, each portion of any paragraph of this Fourth Amended and Restated Certificate of Incorporation containing any such provision held to be invalid, illegal or unenforceable that is not itself held to be invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby and (ii) to the fullest extent possible, the provisions of this Fourth Amended and Restated Certificate of Incorporation (including, without limitation, each such portion of any paragraph of this Fourth Amended and Restated Certificate of Incorporation containing any such provision held to be invalid, illegal or unenforceable) shall be construed so as to permit the Corporation to protect its directors, officers, employees and agents from personal liability in respect of their good faith service or for the benefit of the Corporation to the fullest extent permitted by law.

ARTICLE XI  
AMENDMENT OF CERTIFICATE OF INCORPORATION AND BYLAWS

Except as otherwise expressly provided by this Fourth Amended and Restated Certificate of Incorporation, the Corporation reserves the right to amend, alter, change or repeal any provision of this Fourth Amended and Restated Certificate of Incorporation in the manner now or hereafter prescribed by law, and all the provisions of this Fourth Amended and Restated Certificate of Incorporation and all rights conferred on stockholders, directors, officers and other persons in this Fourth Amended and Restated Certificate of Incorporation are subject to this reserved power. Except as otherwise expressly provided by this Fourth Amended and Restated Certificate of Incorporation, the Board shall have the power to adopt, amend or repeal the Corporation’s Bylaws. Any adoption, amendment or repeal of the Corporation’s Bylaws by the Board shall require the approval of a majority of the Board.

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---

## EX-3.2

SEC source: [thirdamendedandrestatedbyl.htm](https://www.sec.gov/Archives/edgar/data/1702780/000170278025000010/thirdamendedandrestatedbyl.htm)

Exhibit 3.2

THIRD AMENDED AND RESTATED

BYLAWS

OF

OPTIMUM COMMUNICATIONS, INC.

a Delaware corporation

Table of Contents

| Line item | Page |
| --- | --- |
| ARTICLE I |  |
| OFFICES |  |
| Registered Office | 3 |
| Other Offices | 3 |
| ARTICLE II |  |
| MEETINGS OF STOCKHOLDERS |  |
| Annual Meetings | 3 |
| Special Meetings | 3 |
| Notice of Stockholder Business and Nominations | 4 |
| Notice of Meetings | 8 |
| Waiver of Notice | 8 |
| Quorum | 8 |
| Voting; Proxies | 8 |
| Chairman of Meetings | 9 |
| Secretary of Meetings | 9 |
| Adjournment | 9 |
| Inspectors of Election | 9 |
| ARTICLE III |  |
| THE BOARD |  |
| Director Powers | 10 |
| Number of Directors | 10 |
| Resignation | 10 |
| Term and Removal | 10 |
| Vacancies and Newly Created Directorships | 10 |
| Meetings | 10 |
| Committees of the Board; Committee Rules | 11 |
| Directors’ Consent in Lieu of Meeting | 12 |
| Action by Means of Telephone or Similar Communications Equipment | 12 |
| Compensation | 12 |
| Reliance on Books and Records | 12 |
| ARTICLE IV |  |
| OFFICERS |  |
| Officers | 13 |
| Authority and Duties | 13 |
| Term of Office, Resignation and Removal | 13 |
| Vacancies | 13 |
| The Chairman | 13 |
| The Chief Executive Officer | 13 |
| Presidents | 13 |
| The Vice Chairman | 14 |

1

|  |  |  |
| --- | --- | --- |
| Section 4.09. | The Secretary | 14 |
| Section 4.10. | Assistant Secretaries | 14 |
| Section 4.11. | The Treasurer | 14 |
| Section 4.12. | Assistant Treasurers | 14 |
| Section 4.13. | Contracts and Other Documents | 14 |
| Section 4.14. | Ownership of Stock of Another Corporation | 14 |
| Section 4.15. | Delegation of Duties | 14 |
| ARTICLE V |  |  |
| CORPORATE FUNDS, CHECKS, DRAFTS, NOTES AND PROXIES |  |  |
| Section 5.01. | Corporate Funds, Checks, Drafts and Notes | 15 |
| Section 5.02. | Execution of Proxies | 15 |
| ARTICLE VI |  |  |
| SHARES OF STOCK AND TRANSFERS OF SHARES |  |  |
| Section 6.01. | Stock Certificates and Uncertificated Shares | 16 |
| Section 6.02. | Transfer Agents | 16 |
| Section 6.03. | Transfer of Stock | 16 |
| Section 6.04. | Lost Certificates | 16 |
| Section 6.05. | Regulations | 16 |
| Section 6.06. | Fixing Date for Determination of Stockholders of Record | 16 |
| ARTICLE VII |  |  |
| CHOICE OF FORUM |  |  |
| Section 7.01. | Forum for Adjudication of Disputes | 17 |
| ARTICLE VIII |  |  |
| MISCELLANEOUS |  |  |
| Section 8.01. | Seal | 18 |
| Section 8.02. | Fiscal Year | 18 |
| Section 8.03. | Form of Records | 18 |
| Section 8.04. | Section Headings | 18 |
| Section 8.05. | Inconsistent Provisions | 18 |
| ARTICLE IX |  |  |
| AMENDMENTS |  |  |
| Section 9.01. | Amendments | 18 |

2

THIRD AMENDED AND RESTATED

BYLAWS

OF

OPTIMUM COMMUNICATIONS, INC.

a Delaware corporation

* * * * *

ARTICLE I

OFFICES

Section 1.01. Registered Office. The registered office of Optimum Communications, Inc. (the “Corporation”) in the State of Delaware shall be at the office of Corporation Service Company, 251 Little Falls Drive, in the City of Wilmington, County of New Castle, Delaware 19808. The name of the registered agent of the Corporation at such address is Corporation Service Company.

Section 1.02. Other Offices. The Corporation may also have an office or offices at any other place or places within or without the State of Delaware as the Board of Directors of the Corporation (the “Board”) may from time to time determine or the business of the Corporation may from time to time require.

ARTICLE II

MEETINGS OF STOCKHOLDERS

Section 2.01. Annual Meetings. Annual meetings of stockholders may be held at such place, if any, either within or without the State of Delaware, and at such time and date as the Board shall determine and state in the notice of meeting. The Board may, in its sole discretion, determine that meetings of stockholders shall not be held at any place, but may instead be held solely by means of remote communication in accordance with Section 211(a)(2) of the General Corporation Law of the State of Delaware (the “DGCL”). The Board may postpone, reschedule or cancel any annual meeting of stockholders previously scheduled by the Board.

Section 2.02. Special Meetings. Special meetings of the stockholders may only be called in the manner provided in the Corporation’s certificate of incorporation as then in effect (as the same may be amended and/or restated from time to time, the “Amended and Restated Certificate of Incorporation”) and may be held at such place, if any, either within or without the State of Delaware, and at such time and date as the Board or the Chairman of the Board (the “Chairman”) shall determine and state in the notice of meeting. The Board may postpone, reschedule or cancel any special meeting of stockholders previously scheduled by the Board or the Chairman; provided, however, that with respect to any special meeting of stockholders previously scheduled by the Board or the Chairman at the request of stockholders holding a majority of the voting power of the outstanding capital stock, the Board shall not postpone, reschedule or cancel such special meeting without the prior written consent of such stockholders.

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Section 2.03. Notice of Stockholder Business and Nominations.

(A) Annual Meetings of Stockholders.

(1) Nominations of persons for election to the Board and the proposal of other business to be considered by the stockholders may be made at an annual meeting of stockholders only (a) as provided in the Stockholder Agreement (with respect to nominations of persons for election to the Board only), (b) pursuant to the Corporation’s notice of meeting (or any supplement thereto) delivered pursuant to Section 2.04 of Article II of these Bylaws, (c) by or at the direction of the Board or any authorized committee thereof or (d) by any stockholder of the Corporation who is entitled to vote at the meeting, who, subject to paragraph (C)(7) of this Section 2.03, complied with the notice procedures set forth in paragraphs (A)(2) and (A)(3) of this Section 2.03 and who was a stockholder of record at the time such notice is delivered to the Secretary of the Corporation (the “Secretary”). As used herein, “Stockholder Agreement” refers to that certain Amended and Restated Stockholder Agreement entered into by and between the Corporation and Next Alt S.à r.l., a Luxembourg private company with limited liability or any successor thereto (“Next Alt”), as amended from time to time.

(2) For nominations or other business to be properly brought before an annual meeting by a stockholder pursuant to clause (d) of paragraph (A)(1) of this Section 2.03, the stockholder must have given timely notice thereof in writing to the Secretary, and, in the case of business other than nominations of persons for election to the Board, such other business must constitute a proper matter for stockholder action. To be timely, a stockholder’s notice shall be delivered to the Secretary at the principal executive offices of the Corporation not less than ninety (90) days nor more than one hundred and twenty (120) days prior to the first anniversary of the preceding year’s annual meeting (which date shall, for purposes of the Corporation’s first annual meeting of stockholders after its shares of Class A Common Stock are first publicly traded, be deemed to have occurred on May 15, 2017); provided, however, that in the event that the date of the annual meeting is advanced by more than thirty (30) days, or delayed by more than seventy (70) days, from the anniversary date of the previous year’s meeting, or if no annual meeting was held in the preceding year, notice by the stockholder to be timely must be so delivered not earlier than one hundred and twenty (120) days prior to such annual meeting and not later than the close of business on the later of the ninetieth (90th) day prior to such annual meeting or the tenth (10th) day following the day on which public announcement of the date of such meeting is first made by the Corporation. Public announcement of an adjournment or postponement of an annual meeting shall not commence a new time period (or extend any time period) for the giving of a stockholder’s notice. Notwithstanding anything in this Section 2.03(A)(2) to the contrary, if the number of directors to be elected to the Board at an annual meeting is increased and there is no public announcement by the Corporation naming all of the nominees for director or specifying the size of the increased Board at least one hundred (100) calendar days prior to the first anniversary of the prior year’s annual meeting of stockholders, then a stockholder’s notice required by this Section shall be considered timely, but only with respect to nominees for any new positions created by such increase, if it is received by the Secretary not later than the close of business on the tenth (10th) calendar day following the day on which such public announcement is first made by the Corporation.

(3) Such stockholder’s notice shall set forth (a) as to each person whom the stockholder proposes to nominate for election or re-election as a director, all information relating to such person that is required to be disclosed in solicitations of proxies for election of directors in an election contest, or is otherwise required, in each case pursuant to Section 14(a) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the rules and regulations promulgated thereunder, including such person’s

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written consent to being named in the Corporation’s proxy statement as a nominee and to serving as a director if elected; (b) as to any other business that the stockholder proposes to bring before the meeting, a brief description of the business desired to be brought before the meeting, the text of the proposal or business (including the text of any resolutions proposed for consideration and, in the event that such business includes a proposal to amend these Bylaws, the language of the proposed amendment), the reasons for conducting such business at the meeting and any material interest in such business of such stockholder and the beneficial owner, if any, on whose behalf the proposal is made; (c) as to the stockholder giving the notice and the beneficial owner, if any, on whose behalf the nomination or proposal is made (i) the name and address of such stockholder, as they appear on the Corporation’s books and records, and of such beneficial owner, (ii) the class or series and number of shares of capital stock of the Corporation which are owned, directly or indirectly, beneficially and of record by such stockholder and such beneficial owner, (iii) a representation that the stockholder is a holder of record of the stock of the Corporation at the time of the giving of the notice, will be entitled to vote at such meeting and will appear in person or by proxy at the meeting to propose such business or nomination, (iv) a representation whether the stockholder or the beneficial owner, if any, will be or is part of a group which will (x) deliver a proxy statement and/or form of proxy to holders of at least the percentage of the voting power of the Corporation’s outstanding capital stock required to approve or adopt the proposal or elect the nominee and/or (y) otherwise to solicit proxies or votes from stockholders in support of such proposal or nomination, (v) a certification regarding whether such stockholder and beneficial owner, if any, have complied with all applicable federal, state and other legal requirements in connection with the stockholder’s and/or beneficial owner’s acquisition of shares of capital stock or other securities of the Corporation and (vi) any other information relating to such stockholder and beneficial owner, if any, required to be disclosed in a proxy statement or other filings required to be made in connection with solicitations of proxies for, as applicable, the proposal and/or for the election of directors in an election contest pursuant to and in accordance with Section 14(a) of the Exchange Act and the rules and regulations promulgated thereunder; (d) a description of any agreement, arrangement or understanding with respect to the nomination or proposal and/or the voting of shares of any class or series of stock of the Corporation between or among the stockholder giving the notice, the beneficial owner, if any, on whose behalf the nomination or proposal is made, any of their respective affiliates or associates and/or any others acting in concert with any of the foregoing (collectively, “proponent persons”); and (e) a description of any agreement, arrangement or understanding (including without limitation any contract to purchase or sell, acquisition or grant of any option, right or warrant to purchase or sell, swap or other instrument) to which any proponent person is a party, the intent or effect of which may be (i) to transfer to or from any proponent person, in whole or in part, any of the economic consequences of ownership of any security of the Corporation, (ii) to increase or decrease the voting power of any proponent person with respect to shares of any class or series of stock of the Corporation and/or (iii) to provide any proponent person, directly or indirectly, with the opportunity to profit or share in any profit derived from, or to otherwise benefit economically from, any increase or decrease in the value of any security of the Corporation. A stockholder providing notice of a proposed nomination for election to the Board or other business proposed to be brought before a meeting (whether given pursuant to this paragraph (A)(3) or paragraph (B) of this Section 2.03 of these Bylaws) shall update and supplement such notice from time to time to the extent necessary so that the information provided or required to be provided in such notice shall be true and correct as of the record date for determining the stockholders entitled to notice of the meeting. Any such update and supplement shall be delivered in writing to the Secretary at the principal executive offices of the Corporation not later than five (5) days after the record date for determining the stockholders entitled to notice of the meeting. The Corporation may

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require any proposed nominee to furnish such other information as it may reasonably require to determine the eligibility of such proposed nominee to serve as a director of the Corporation and to determine the independence of such director under the Exchange Act and rules and regulations thereunder and applicable stock exchange rules.

(B) Special Meetings of Stockholders. Only such business shall be conducted at a special meeting of stockholders as shall have been brought before the meeting pursuant to the Corporation’s notice of meeting. Nominations of persons for election to the Board may be made at a special meeting of stockholders at which directors are to be elected pursuant to the Corporation’s notice of meeting (1) as provided in the Stockholder Agreement, (2) by or at the direction of the Board or any committee thereof (or the stockholders or director pursuant to section (2) of Article VIII of the Amended and Restated Certificate of Incorporation) or (3) provided that the Board (or the stockholders or director pursuant to Section (2) of Article VIII of the Amended and Restated Certificate of Incorporation) has determined that directors shall be elected at such meeting, by any stockholder of the Corporation who is entitled to vote at the meeting, who (subject to paragraph (C)(7) of this Section 2.03) complies with the notice procedures set forth in this Section 2.03 and who is a stockholder of record at the time such notice is delivered to the Secretary. In the event the Corporation calls a special meeting of stockholders for the purpose of electing one or more directors to the Board, any such stockholder entitled to vote in such election of directors may nominate a person or persons (as the case may be) for election to such position(s) as specified in the Corporation’s notice of meeting if the stockholder’s notice as required by paragraph (A)(2) of this Section 2.03 shall be delivered to the Secretary at the principal executive offices of the Corporation not earlier than the close of business on the 120th day prior to such special meeting and not later than the close of business on the later of the 90th day prior to such special meeting or the 10th day following the day on which the Corporation first makes a public announcement of the date of the special meeting at which directors are to be elected. In no event shall the public announcement of an adjournment or postponement of a special meeting commence a new time period (or extend any time period) for the giving of a stockholder’s notice as described above.

(C) General.

(1) Except as provided in paragraph (C)(7) of this Section 2.03, only such persons who are nominated in accordance with the procedures set forth in this Section 2.03 or the Stockholder Agreement shall be eligible to serve as directors and only such business shall be conducted at an annual or special meeting of stockholders as shall have been brought before the meeting in accordance with the procedures set forth in this Section. Except as otherwise provided by law, the Amended and Restated Certificate of Incorporation or these Bylaws, the chairman of the meeting shall, in addition to making any other determination that may be appropriate for the conduct of the meeting, have the power and duty to determine whether a nomination or any business proposed to be brought before the meeting was made or proposed, as the case may be, in accordance with the procedures set forth in these Bylaws and, if any proposed nomination or business is not in compliance with these Bylaws, to declare that such defective proposal or nomination shall be disregarded.

(2) The date and time of the opening and the closing of the polls for each matter upon which the stockholders will vote at a meeting shall be announced at the meeting by the chairman of the meeting. The Board may adopt by resolution such rules and regulations for the conduct of the meeting of stockholders as it shall deem appropriate. Except to the extent inconsistent with such rules and regulations as adopted by the Board, the chairman of the meeting shall have the right and authority to convene and (for any or

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no reason) to recess and/or adjourn the meeting, to prescribe such rules, regulations and procedures and to do all such acts as, in the judgment of such chairman, are appropriate for the proper conduct of the meeting. Such rules, regulations or procedures, whether adopted by the Board or prescribed by the chairman of the meeting, may include, without limitation, the following: (i) the establishment of an agenda or order of business for the meeting, (ii) rules and procedures for maintaining order at the meeting and the safety of those present; (iii) limitations on attendance at or participation in the meeting to stockholders entitled to vote at the meeting, their duly authorized and constituted proxies or such other persons as the chairman of the meeting shall determine; (iv) restrictions on entry to the meeting after the time fixed for the commencement thereof; and (v) limitations on the time allotted to questions or comments by participants and on shareholder approvals.

(3) Notwithstanding the foregoing provisions of this Section 2.03, unless otherwise required by law, if the stockholder (or a qualified representative of the stockholder) does not appear at the annual or special meeting of stockholders of the Corporation to present a nomination or business proposal, such nomination shall be disregarded and such proposed business shall not be transacted, notwithstanding that proxies in respect of such vote may have been received by the Corporation. For purposes of this Section 2.03, to be considered a qualified representative of the stockholder, a person must be a duly authorized officer, manager or partner of such stockholder or must be authorized by a writing executed by such stockholder or an electronic transmission delivered by such stockholder to act for such stockholder as proxy at the meeting of stockholders and such person must produce such writing or electronic transmission, or a reliable reproduction of the writing or electronic transmission, at the meeting of stockholders.

(4) Unless and to the extent determined by the Board or the chairman of the meeting, meetings of stockholders shall not be required to be held in accordance with the rules of parliamentary procedure.

(5) Whenever used in these Bylaws, “public announcement” shall mean disclosure (a) in a press release released by the Corporation, provided such press release is released by the Corporation following its customary procedures, is reported by the Dow Jones News Service, Associated Press or comparable national news service, or is generally available on Internet news sites, or (b) in a document publicly filed by the Corporation with the Securities and Exchange Commission pursuant to Section 13, 14 or 15(d) of the Exchange Act and the rules and regulations promulgated thereunder.

(6) Notwithstanding the foregoing provisions of this Section 2.03, a stockholder shall also comply with all applicable requirements of the Exchange Act and the rules and regulations promulgated thereunder with respect to the matters set forth in this Section 2.03; provided, however, that, to the fullest extent permitted by law, any references in these Bylaws to the Exchange Act or the rules and regulations promulgated thereunder are not intended to and shall not limit any requirements applicable to nominations or proposals as to any other business to be considered pursuant to these Bylaws (including paragraphs (A)(1)(d) and (B) hereof), and, subject to Rule 14a-8 under the Exchange Act, compliance with paragraphs (A)(1)(d) and (B) of this Section 2.03 of these Bylaws shall be the exclusive means for a stockholder to make nominations or submit other business. Nothing in these Bylaws shall be deemed to affect any rights of the holders of any class or series of Preferred Stock to elect directors under specified circumstances.

(7) Notwithstanding anything to the contrary contained in this Section 2.03, (i) Next Alt and its permitted assignees for so long as such Person is a party to the

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Stockholder Agreement, and (ii) Patrick Drahi (“Patrick Drahi”) shall not be subject to the notice procedures set forth in paragraphs (A)(2), (A)(3), (B), (C)(3) or (C)(6) of this Section 2.03 with respect to any annual or special meeting of stockholders.

Section 2.04. Notice of Meetings. Whenever stockholders are required or permitted to take any action at a meeting, a timely notice in writing or by electronic transmission, in the manner provided in Section 232 of the DGCL, of the meeting, which shall state the place, if any, date and time of the meeting, the means of remote communications, if any, by which stockholders and proxy holders may be deemed to be present in person and vote at such meeting, the record date for determining the stockholders entitled to vote at the meeting, if such date is different from the record date for determining stockholders entitled to notice of the meeting, and, in the case of a special meeting, the purposes for which the meeting is called, shall be mailed to or transmitted electronically by the Secretary to each stockholder of record entitled to vote thereat as of the record date for determining the stockholders entitled to notice of the meeting. Unless otherwise provided by law, the Amended and Restated Certificate of Incorporation or these Bylaws, the notice of any meeting shall be given not less than ten (10) nor more than sixty (60) days before the date of the meeting to each stockholder entitled to vote at such meeting as of the record date for determining the stockholders entitled to notice of the meeting.

Section 2.05. Waiver of Notice. Notice of any annual or special meeting of stockholders need not be given to any stockholder who files a written waiver of notice with the Secretary, signed by the person entitled to notice, whether before or after such meeting. Neither the business to be transacted at, nor the purpose of, any meeting of stockholders need be specified in any written waiver of notice thereof. Attendance of a stockholder at a meeting, in person or by proxy, shall constitute a waiver of notice of such meeting, except when such stockholder attends a meeting for the express purpose of objecting, at the beginning of the meeting, to the transaction of any business on the grounds that the notice of such meeting was inadequate or improperly given.

Section 2.06. Quorum. Unless otherwise required by law, the Amended and Restated Certificate of Incorporation or the rules of any stock exchange upon which the Corporation’s securities are listed, the holders of record of a majority of the voting power of the issued and outstanding shares of capital stock of the Corporation entitled to vote at the meeting, present in person or represented by proxy, shall constitute a quorum for the transaction of business at all meetings of stockholders. Notwithstanding the foregoing, where a separate vote by a class or series or classes or series is required, a majority of the voting power of the outstanding shares of such class or series or classes or series, present in person or represented by proxy, shall constitute a quorum entitled to take action with respect to the vote on that matter. Once a quorum is present to organize a meeting, it shall not be broken by the subsequent withdrawal of any stockholders.

Section 2.07. Voting; Proxies. Except as otherwise expressly provided by the Amended and Restated Certificate of Incorporation or required by applicable law, the holders of Class A Common Stock are entitled to one vote per share and the holders of Class B Common Stock are entitled to twenty-five votes per share on any matter submitted to a vote of the stockholders. Except as otherwise expressly provided by the Amended and Restated Certificate of Incorporation or required by applicable law, the holders of shares of Class C common stock are not entitled to vote on any matter submitted to a vote of the stockholders. Each stockholder entitled to vote at a meeting of stockholders or to express consent to corporate action in writing without a meeting may authorize another person or persons to act for such stockholder by proxy in any manner provided by applicable law, but no such proxy shall be voted or acted upon after three years from its date, unless the proxy provides for a longer period. A proxy shall be irrevocable if it states that it is irrevocable and if, and only as long as, it is coupled with an interest sufficient in law to support an irrevocable power. A stockholder may revoke any proxy which is not irrevocable by attending the meeting and voting in person or by delivering to the Secretary a revocation of the proxy or a new proxy bearing a later date. Unless required by the Amended and Restated Certificate of Incorporation or applicable law, or determined by the chairman of the meeting to be advisable, the vote on any question need not be by ballot. On a vote by ballot, each ballot shall be signed by the stockholder voting, or by such stockholder’s proxy, if there be such proxy. Other than in respect of the election of directors, when a quorum is present or represented at any meeting, all questions presented to the stockholders shall be decided by the affirmative vote of the holders of a majority of the voting power of the shares of stock present in person or represented by proxy and entitled to vote on the subject matter, unless the question is one upon which, by express provision of applicable law, of the rules or

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regulations of any stock exchange applicable to the Corporation, of any regulation applicable to the Corporation or its securities, of the Amended and Restated Certificate of Incorporation or of these Bylaws, a different vote is required, in which case such express provision shall govern and control the decision of such question. The vote required for the election of directors by stockholders, other than in a contested election of directors, shall be the affirmative vote of a majority of the votes cast with respect to a director nominee. For purposes of this paragraph, a ‘majority of the votes cast’ shall mean that the number of votes cast ‘for’ a director must exceed the number of votes cast ‘against’ that director. In any contested election of directors, the nominees receiving the greatest number of the votes cast for their election, up to the number of directors to be elected in such election, shall be deemed elected. ‘Abstentions’ and ‘broker non-votes’ will not count as votes either ‘for’ or ‘against’ a nominee. A contested election is one in which the number of persons nominated exceeds the number of directors to be elected as of the date that is ten days prior to the date that the Corporation first mails its notice of meeting for such meeting to the stockholders.

Section 2.08. Chairman of Meetings. The Chairman, or in the absence, or at the direction, of the Chairman, the Chief Executive Officer, or in the absence, or at the direction, of the Chief Executive Officer, a person designated by the Board shall be the chairman of the meeting and, as such, preside at all meetings of the stockholders.

Section 2.09. Secretary of Meetings. The Secretary shall act as secretary at all meetings of the stockholders. In the absence or disability of the Secretary, the Chairman or the Chief Executive Officer shall appoint a person to act as secretary at such meetings.

Section 2.10. Adjournment. At any meeting of stockholders of the Corporation, if less than a quorum be present, the chairman of the meeting or stockholders holding a majority of the voting power of the shares of stock of the Corporation, present in person or by proxy and entitled to vote thereat, shall have the power to adjourn the meeting from time to time until a quorum shall be present without notice other than announcement at the meeting of the time, place (if any) thereof and the means of remote communications (if any) by which stockholders and proxy holders may be determined to be present in person and vote at such adjourned meeting. Any business may be transacted at the adjourned meeting that might have been transacted at the meeting originally noticed. If the adjournment is for more than thirty (30) days, a notice of the adjourned meeting shall be given to each stockholder of record entitled to vote at the meeting. If after the adjournment a new record date for determination of stockholders entitled to vote is fixed for the adjourned meeting, the Board shall fix as the record date for determining stockholders entitled to notice of such adjourned meeting the same or an earlier date as that fixed for determination of stockholders entitled to vote at the adjourned meeting, and shall give notice of the adjourned meeting to each stockholder of record entitled to vote at such adjourned meeting as of the record date so fixed for notice of such adjourned meeting.

Section 2.11. Inspectors of Election. The Corporation may, and shall if required by law, in advance of any meeting of stockholders, appoint one or more inspectors of election, who may be employees of the Corporation, to act at the meeting or any adjournment thereof and to make a written report thereof. The Corporation may designate one or more persons as alternate inspectors to replace any inspector who fails to act. In the event that no inspector so appointed or designated is able to act at a meeting of stockholders, the chairman of the meeting shall appoint one or more inspectors to act at the meeting. Each inspector, before entering upon the discharge of his or her duties, shall take and sign an oath to execute faithfully the duties of inspector with strict impartiality and according to the best of his or her ability. The inspector or inspectors so appointed or designated shall (i) ascertain the number of shares of capital stock of the Corporation outstanding and the voting power of each such share, (ii) determine the shares of capital stock of the corporation represented at the meeting and the validity of proxies and ballots, (iii) count all votes and ballots, (iv) determine and retain for a reasonable period a record of the disposition of any challenges made to any determination by the inspectors, and (v) certify their determination of the number of shares of capital stock of the Corporation represented at the meeting and such inspectors’ count of all votes and ballots. Such certification and report shall specify such other information as may be required by law. In determining the validity and counting of proxies and ballots cast at any meeting of stockholders of the Corporation, the inspectors may consider such information as is permitted by applicable law. No person who is a candidate for an office at an election may serve as an inspector at such election.

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ARTICLE III

THE BOARD

Section 3.01. Director Powers. The business and affairs of the Corporation shall be managed by or under the directions of the Board. In addition to the powers and authority expressly conferred upon the Board by statute, the Amended and Restated Certificate of Incorporation or these Bylaws, the Board is hereby empowered to exercise all such powers and do all such things as may be exercised or done by the Corporation.

Section 3.02. Number of Directors. The authorized number of directors of the Board comprising the entire Board shall be not less than seven nor more than twelve. An increase or decrease in the outer limits of this range of directors requires the affirmative vote of the holders of a majority of the voting power of the then outstanding shares of the Corporation’s capital stock entitled to vote thereon. Within the foregoing limits, and subject to the rights of the holders of any series of Preferred Stock to elect additional directors under specified circumstances, the number of directors shall be fixed from time to time exclusively by resolution adopted by a majority of the Board. No decrease in the authorized number of directors of the Board shall shorten the term of any incumbent director. Directors need not be stockholders.

Section 3.03. Resignation. Any director may resign at any time by delivering his written resignation to the Board, the Chairman or the Secretary. Such resignation shall take effect at the time specified in such notice or, if the time be not specified, upon receipt thereof by the Board, the Chairman or the Secretary, as the case may be. Unless otherwise specified therein, acceptance of such resignation shall not be necessary to make it effective.

Section 3.04. Term and Removal. Each director shall hold office until such director’s successor is elected and qualified, or until such director’s earlier death, resignation or removal. Subject to the rights granted to the holders of any one or more series of Preferred Stock then outstanding or the rights granted pursuant to the Stockholder Agreement, stockholders holding a majority of the voting power of the outstanding capital stock may remove any or all directors with or without cause.

Section 3.05. Vacancies and Newly Created Directorships. Subject to the rights granted to the holders of any one or more series of Preferred Stock then outstanding or the rights granted pursuant to the Stockholder Agreement, any newly created directorship on the Board that results from an increase in the number of directors within the range set forth in Section 3.02 of this Article III and any vacancy occurring on the Board (whether by death, resignation, retirement, disqualification, removal or other cause) shall be filled by a majority of the directors then in office, although less than a quorum, by a sole remaining director or by the stockholders. Any director elected to fill a vacancy or newly created directorship shall hold office until the next annual meeting of stockholders for the election of directors and until his or her successor shall be elected and qualified, or until his or her earlier death, resignation, retirement, disqualification or removal.

Section 3.06. Meetings.

(A) Annual Meetings. As soon as practicable after each annual election of directors by the stockholders, the Board shall meet for the purpose of organization and the transaction of other business, unless it shall have transacted all such business by written consent pursuant to Section 3.08 hereof.

(B) Other Meetings. Other meetings of the Board shall be held at such times as the Chairman or two Board members acting jointly shall from time to time determine.

(C) Notice of Meetings. The Secretary shall give written notice to each director and, pursuant to the Stockholder Agreement, in the event Patrick Drahi is not a member of the Board, to the Chairman of Next Alt of each meeting of the Board, which notice shall state the place, date, time and purpose of such meeting. Notice of each such meeting shall be given to each director, if by mail, addressed to him at his residence or usual place of business, at least three days before the day on which such meeting is to be held, or shall be sent to him by telecopy or other form of

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electronic transmission, or be delivered personally or by an internationally recognized courier service or by telephone, not later than 24 hours before the time at which such meeting is to be held. A written waiver of notice, signed by the director entitled to notice, whether before or after the time of the meeting referred to in such waiver, shall be deemed equivalent to notice. Neither the business to be transacted at, nor the purpose of any meeting of the Board need be specified in any written waiver of notice thereof. Attendance of a director at a meeting of the Board shall constitute a waiver of notice of such meeting, except as provided by law.

(D) Place of Meetings. The Board may hold its meetings at such place or places within or without the State of Delaware as the Board or the Chairman may from time to time determine, or as shall be designated in the respective notices or waivers of notice of such meetings.

(E) Quorum and Manner of Acting. A quorum is required for the transaction of business at any meeting of the Board. A majority of the number of directors then in office shall be required to constitute a quorum; provided that so long as Next Alt is entitled to nominate three or more directors to the Board pursuant to the Stockholder Agreement, such quorum must include (i) the Chairman of the board of managers of Next Alt and two other directors nominated to the Board pursuant to the Stockholder Agreement by Next Alt or (ii) in the event the Chairman of the board of managers of Next Alt is not a member of the Board, three directors nominated to the Board pursuant to the Stockholder Agreement by Next Alt; provided, however, that, in the case of clause (i) of this paragraph (E) of this Section 3.06, if consented to in writing (including by email) by Next Alt, three directors nominated to the Board pursuant to the Stockholder Agreement by Next Alt shall be required to constitute a quorum, none of which need be the Chairman of the board of managers of Next Alt. In the event Next Alt is entitled to nominate one or two directors to the Board pursuant to the Stockholder Agreement and such directors are elected to the Board by the stockholders of the Company, a quorum must include each of the directors nominated to the Board pursuant to the Stockholder Agreement by Next Alt.

(F) Organization. At each meeting of the Board, one of the following shall act as chairman of the meeting and preside, in the following order of precedence: (1) the Chairman; and (2) any director chosen by a majority of the directors present. The Secretary or, in the case of the Secretary’s absence, any person (who shall be an Assistant Secretary, if an Assistant Secretary is present) whom the chairman of the meeting shall appoint shall act as secretary of such meeting and keep the minutes thereof.

(G) Meeting Agenda. The agenda for any meeting of the Board will be determined by the Board member(s) convening the meeting. Board members may submit agenda items to be discussed at the meeting to the Board member(s) convening the meeting. After convocation of a Board meeting, amendments to the agenda can only be made upon the unanimous vote of all Board members. Matters not included on the agenda can only be added thereto if all Board members are present at the meeting and agree to vote on the matter. At the request of a Board member and with the agreement of the majority of the other Board members, urgent matters may be discussed immediately, although voting on such urgent matters shall require an amendment to the agenda which can only be made upon the unanimous vote of all Board members.

Section 3.07. Committees of the Board; Committee Rules. The Board may designate one or more committees, including but not limited to an Audit Committee and a Compensation Committee, each such committee to consist of one or more of the directors of the Board. The Board may designate one or more directors as alternate members of any committee to replace any absent or disqualified member at any meeting of the committee. Any such committee, to the extent provided in the resolution of the Board establishing such committee, shall have and may exercise all the powers and authority of the Board in the management of the business and affairs of the Corporation, and may authorize the seal of the Corporation to be affixed to all papers which may require it; but no such committee shall have the power or authority in reference to the following matters: (a) approving or adopting, or recommending to the stockholders, any action or matter (other than the election or removal of directors) expressly required by the DGCL to be submitted to stockholders for approval or (b) adopting, amending or repealing any

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Bylaw of the Corporation. All committees of the Board shall keep minutes of their meetings and shall report their proceedings to the Board when requested or required by the Board. Each committee of the Board may fix its own rules of procedure and shall hold its meetings as provided by such rules, except as may otherwise be provided by a resolution of the Board designating such committee. Unless otherwise provided in such a resolution, the presence of at least a majority of the members of the committee shall be necessary to constitute a quorum unless the committee shall consist of one or two members, in which event one member shall constitute a quorum; and all matters shall be determined by a majority vote of the members present at a meeting of the committee at which a quorum is present.

Section 3.08. Directors’ Consent in Lieu of Meeting. Any action required or permitted to be taken at any meeting of the Board or of any committee thereof may be taken without a meeting, without prior notice and without a vote, if a consent in writing or by electronic transmission, setting forth the action so taken, shall be signed by all the members of the Board or such committee and such consent or electronic transmission is filed with the minutes of the proceedings of the Board or such committee. Such filing shall be in paper form if the minutes are maintained in paper form and shall be in electronic form if the minutes are maintained in electronic form.

Section 3.09. Action by Means of Telephone or Similar Communications Equipment. Any one or more members of the Board, or of any committee thereof, may participate in a meeting of the Board or such committee by means of conference telephone or other communications equipment by means of which all persons participating in the meeting can hear each other, and participation in a meeting by such means shall constitute presence in person at such meeting.

Section 3.10. Compensation. Unless otherwise restricted by the Amended and Restated Certificate of Incorporation, the Board may determine the compensation of directors. In addition, as determined by the Board, directors may be reimbursed by the Corporation for their expenses, if any, in the performance of their duties as directors. No such compensation or reimbursement shall preclude any director from serving the Corporation in any other capacity and receiving compensation therefor.

Section 3.11. Reliance on Books and Records. A member of the Board, or a member of any committee designated by the Board, shall, in the performance of such person’s duties, be fully protected in relying in good faith upon records of the Corporation and upon such information, opinions, reports or statements presented to the Corporation by any of the Corporation’s officers or employees, or committees of the Board, or by any other person as to matters the member reasonably believes are within such other person’s professional or expert competence and who has been selected with reasonable care by or on behalf of the Corporation.

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ARTICLE IV

OFFICERS

Section 4.01. Officers. The officers of the Corporation will include, if and when designated by the Board: the Chairman; a Chief Executive Officer; two or more Presidents including a Chief Financial Officer and a Chief Operating Officer; a Vice Chairman; a Secretary; and a Treasurer. The Board may also appoint one or more Assistant Secretaries and Assistant Treasurers and such other officers and agents with such powers and duties as it deems necessary (subject to the rights, if any, of an officer under any contract of employment). Any one person may hold any number of offices of the Corporation at any one time unless specifically prohibited therefrom by law. The salaries and other compensation of the officers of the Corporation will be fixed by or in the manner designated by the Board or a committee thereof to which the Board has delegated such responsibility.

Section 4.02. Authority and Duties. All officers shall have such authority and perform such duties in the management of the Corporation as may be provided in these Bylaws or, to the extent not so provided, by resolution of the Board.

Section 4.03. Term of Office, Resignation and Removal. (a) Each officer shall be appointed by the Board and shall hold office for such term as may be determined by the Board. Each officer shall hold office until such officer’s successor has been appointed and qualified or such officer’s earlier death or resignation or removal in the manner hereinafter provided.

(b) Any officer may resign at any time by giving written notice to the Board, the Chief Executive Officer, any President or the Secretary. Such resignation shall take effect at the time specified in such notice or, if the time be not specified, upon receipt thereof by the Board, the Chief Executive Officer, any President or the Secretary, as the case may be. Unless otherwise specified therein, acceptance of such resignation shall not be necessary to make it effective.

(c) All officers and agents appointed by the Board shall be subject to removal, with or without cause, at any time by the Board.

Section 4.04. Vacancies. Any vacancy occurring in any office of the Corporation, for any reason, shall be filled by action of the Board. Unless earlier removed pursuant to Section 4.03 hereof, any officer appointed by the Board to fill any such vacancy shall serve only until such time as the unexpired term of such officer’s predecessor expires unless reappointed by the Board.

Section 4.05. The Chairman. The Chairman shall have the power to call special meetings of stockholders, to call special meetings of the Board and, if present, to preside at all meetings of stockholders and all meetings of the Board. The Chairman shall perform all duties incident to the office of Chairman of the Board and all such other duties as may from time to time be assigned to the Chairman by the Board or these Bylaws.

Section 4.06. The Chief Executive Officer. The Chief Executive Officer, who may also be the Chairman, subject to the determination of the Board, shall have general and active management and control of the business and affairs of the Corporation, subject to the control of the Board, and shall see that all orders and resolutions of the Board are carried into effect. The Chief Executive Officer shall perform all duties incident to the office of Chief Executive Officer and all such other duties as may from time to time be assigned to the Chief Executive Officer by the Board or these Bylaws.

Section 4.07. Presidents. Any President, in order of his or her seniority or in any other order determined by the Board, shall generally assist the Chief Executive Officer and perform such other duties as the Board or the Chief Executive Officer shall prescribe, and in the absence or disability of the Chief Executive Officer, shall perform the duties and exercise the powers of the Chief Executive Officer.

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Section 4.08. The Vice Chairman. The Vice Chairman shall perform all duties incident to the office of Vice Chairman and all such other duties as may from time to time be assigned to the Vice Chairman by the Chief Executive Officer or these Bylaws.

Section 4.09. The Secretary. The Secretary shall, to the extent practicable, attend all meetings of the Board and all meetings of stockholders and shall record all votes and the minutes of all proceedings in a book to be kept for that purpose, and shall perform the same duties for any committee of the Board when so requested by such committee. The Secretary shall give or cause to be given notice of all meetings of stockholders and of the Board. The Secretary shall keep in safe custody the certificate books and stockholder records and such other books and records of the Corporation as the Board, the Chairman or the Chief Executive Officer may direct and shall perform all other duties incident to the office of Secretary and such other duties as from time to time may be assigned to the Secretary by the Board, the Chairman or the Chief Executive Officer.

Section 4.10. Assistant Secretaries. Assistant Secretaries of the Corporation (“Assistant Secretaries”), if any, in order of their seniority or in any other order determined by the Board, shall generally assist the Secretary and perform such other duties as the Board or the Secretary shall prescribe, and, in the absence or disability of the Secretary, shall perform the duties and exercise the powers of the Secretary.

Section 4.11. The Treasurer. The Treasurer of the Corporation (the “Treasurer”) shall have the care and custody of all the funds of the Corporation and shall deposit such funds in such banks or other depositories as the Board, or any officer or officers, or any officer and agent jointly, duly authorized by the Board, shall, from time to time, direct or approve. The Treasurer shall disburse the funds of the Corporation under the direction of the Board and the Chief Executive Officer. The Treasurer shall keep a full and accurate account of all moneys received and paid on account of the Corporation and shall render a statement of the Treasurer’s accounts whenever the Board, the Chairman or the Chief Executive Officer shall so request. The Treasurer shall perform all other necessary actions and duties in connection with the administration of the financial affairs of the Corporation and shall generally perform all the duties usually appertaining to the office of treasurer of a corporation. When required by the Board, the Treasurer shall give bonds for the faithful discharge of the Treasurer’s duties in such sums and with such sureties as the Board shall approve.

Section 4.12. Assistant Treasurers. Assistant Treasurers of the Corporation (“Assistant Treasurers”), if any, in order of their seniority or in any other order determined by the Board, shall generally assist the Treasurer and perform such other duties as the Board or the Treasurer shall prescribe, and, in the absence or disability of the Treasurer, shall perform the duties and exercise the powers of the Treasurer.

Section 4.13. Contracts and Other Documents. Subject to such policies as may be adopted by the Board from time to time, the Chief Executive Officer, any President, the Secretary or the Treasurer, or such other officer or officers as may from time to time be authorized by the Board or any other committee given specific authority in the premises by the Board during the intervals between the meetings of the Board, shall have power to sign and execute on behalf of the Corporation deeds, conveyances and contracts, and any and all other documents requiring execution by the Corporation.

Section 4.14. Ownership of Stock of Another Corporation. Unless otherwise directed by the Board, the Chief Executive Officer, any President, the Secretary or the Treasurer, or such other officer or agent as shall be authorized by the Board, shall have the power and authority, on behalf of the Corporation, to attend and to vote at any meeting of stockholders of any entity in which the Corporation holds securities or equity interests and may exercise, on behalf of the Corporation, any and all of the rights and powers incident to the ownership of such securities or equity interests at any such meeting, including the authority to execute and deliver proxies and consents on behalf of the Corporation.

Section 4.15. Delegation of Duties. In the absence, disability or refusal of any officer to exercise and perform his or her duties, the Board may delegate to another officer such powers or duties.

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ARTICLE V

CORPORATE FUNDS, CHECKS, DRAFTS, NOTES AND PROXIES

Section 5.01. Corporate Funds, Checks, Drafts and Notes. The funds of the Corporation shall be kept in such depositories as shall from time to time be prescribed by the Board or its designees selected for such purposes. All checks, drafts and other orders for the payment of money, notes and other evidences of indebtedness issued in the name of the Corporation shall be signed by the Chief Executive Officer, any President, the Secretary or the Treasurer, or such other person or agent as may from time to time be authorized and with such countersignature, if any, as may be required by the Board.

Section 5.02. Execution of Proxies. The Chairman, the Chief Executive Officer or any President may authorize, from time to time, the execution and issuance of proxies to vote shares of stock or other securities of other corporations held of record by the Corporation and the execution of consents to action taken or to be taken by any such corporation. All such proxies and consents, unless otherwise authorized by the Board, shall be signed in the name of the Corporation by the Chief Executive Officer or any President.

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ARTICLE VI

SHARES OF STOCK AND TRANSFERS OF SHARES

Section 6.01. Stock Certificates and Uncertificated Shares.

(A) Unless otherwise required by applicable law or authorized by the Board, from and after June 20, 2017, all shares of the Corporation shall be issued, recorded and transferred exclusively in uncertificated book-entry form in accordance with a direct registration program operated by a clearing agency registered under Section 17A of the Exchange Act. Shares of the Corporation represented by certificates that were issued prior to June 20, 2017 shall continue to be certificated securities of the Corporation until the certificates therefor have been surrendered to the Corporation.

(B) Certificates for shares of the capital stock of the Corporation shall be issued only to the extent as may be required by applicable law or as otherwise authorized by the Board, and if so issued shall be in such form as shall be approved by the Board. Any such certificates shall be signed by or have engraved thereon a facsimile signature of the Chief Executive Officer and the Secretary or an Assistant Secretary, certifying the number and class of the Corporation’s shares held by such stockholder.

Section 6.02. Transfer Agents. The Board may, in its discretion, appoint responsible banks or trust companies or other appropriately qualified institutions to act as Transfer Agents and Registrars of the stock of the Corporation and, upon such appointments being made, no stock certificate shall be valid until countersigned by one of such Transfer Agents and registered by one of such Registrars. Where any such certificate is registered with the manual signature of a Registrar, the countersignature of a Transfer Agent may be a facsimile or engraved, stamped or printed.

Section 6.03. Transfer of Stock. Shares of stock may be transferred by delivery of the certificates therefore, accompanied by an assignment in writing on the back of the certificates or by written power of attorney to sell, assign and transfer the same, signed by the record holder thereof, upon receipt of proper transfer instructions from the owner of uncertificated shares, or upon the escheat of said shares under the laws of any state of the United States. In no event shall a transfer of shares affect the right of the Corporation to pay any dividend upon the stock to the holder of record thereof for all purposes, and no transfer shall be valid, except between the parties thereto, until such transfer shall have been made upon the books of the Corporation.

Section 6.04. Lost Certificates. In case any certificate of stock shall be lost, stolen or destroyed, the Board, in its discretion, may authorize the issue of, or provide for the manner of issuing, uncertificated shares in place of the certificate so lost, stolen or destroyed; provided, that, in each such case, the applicant for such uncertificated shares shall furnish to the Corporation and to such of its Transfer Agents and Registrars as may require the same evidence to their satisfaction, in their discretion, of the loss, theft or destruction of such certificate and of the ownership thereof, and also such security or indemnity as may be required by them.

Section 6.05. Regulations. The Board may make such other rules and regulations as it may deem expedient, not inconsistent with these Bylaws, concerning the issue, transfer and registration of certificates evidencing shares and uncertificated shares.

Section 6.06. Fixing Date for Determination of Stockholders of Record.

(a) In order that the Corporation may determine the stockholders entitled to notice of any meeting of stockholders or any adjournment thereof, the Board may fix a record date, which record date shall not precede the date upon which the resolution fixing the record date is adopted by the Board, and which record date shall not be more than 60 nor less than 10 days before the date of such meeting. If the Board so fixes a date, such date shall also be the record date for determining the stockholders entitled to vote at such meeting unless the Board determines, at

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the time it fixes such record date, that a later date on or before the date of the meeting shall be the date for making such determination. If no record date is fixed by the Board, the record date for determining stockholders entitled to notice of and to vote at a meeting of stockholders shall be at the close of business on the day next preceding the day on which notice is given, or, if notice is waived, at the close of business on the day next preceding the day on which the meeting is held. A determination of stockholders of record entitled to notice of or to vote at a meeting of stockholders shall apply to any adjournment of the meeting; provided, however, that the Board may fix a new record date for determination of stockholders entitled to vote at the adjourned meeting, and in such case shall also fix as the record date for stockholders entitled to notice of such adjourned meeting the same or an earlier date as that fixed for determination of stockholders entitled to vote in accordance with the foregoing provisions of this subsection (a) at the adjourned meeting.

(b) In order that the Corporation may determine the stockholders entitled to consent to corporate action in writing without a meeting, the Board may fix a record date, which record date shall not precede the date upon which the resolution fixing the record date is adopted by the Board, and which date shall not be more than 10 days after the date upon which the resolution fixing the record date is adopted by the Board. If no record date has been fixed by the Board, the record date for determining stockholders entitled to consent to corporate action in writing without a meeting, when no prior action by the Board is required by applicable law, shall be the first date on which a signed written consent setting forth the action taken or proposed to be taken is delivered to the Corporation by delivery to its registered office in this State, its principal place of business or an officer or agent of the Corporation having custody of the book in which proceedings of meetings of stockholders are recorded. Delivery made to a corporation’s registered office shall be by hand or by certified or registered mail, return receipt requested. If no record date has been fixed by the Board and prior action by the Board is required by applicable law, the record date for determining stockholders entitled to consent to corporate action in writing without a meeting shall be at the close of business on the day on which the Board adopts the resolution taking such prior action.

(c) In order that the Corporation may determine the stockholders entitled to receive payment of any dividend or other distribution or allotment of any rights or the stockholders entitled to exercise any rights in respect of any change, conversion or exchange of stock, or for the purpose of any other lawful action, the Board may fix a record date, which record date shall not precede the date upon which the resolution fixing the record date is adopted, and which record date shall be not more than 60 days prior to such action. If no record date is fixed, the record date for determining stockholders for any such purpose shall be at the close of business on the day on which the Board adopts the resolution relating thereto.

ARTICLE VII

CHOICE OF FORUM

Section 7.01. Forum for Adjudication of Disputes. To the fullest extent permitted by law, and unless the Board approves the selection of an alternative forum, the Court of Chancery of the State of Delaware (or, if the Court of Chancery does not have jurisdiction, another state or federal court located in the State of Delaware), shall be the sole and exclusive forum for: (i) any derivative action or proceeding brought in the name or right of the Corporation or on its behalf, (ii) any action asserting a claim for breach of a fiduciary duty owed by any current or former director, officer or stockholder in such capacity to the Corporation or the Corporation’s stakeholders, (iii) any action arising or asserting a claim arising pursuant to any provision of the DGCL or any provision of the Amended and Restated Certificate of Incorporation or these Bylaws or as to which the DGCL confers jurisdiction on the Court of Chancery of the State of Delaware or (iv) any action asserting a claim governed by the internal affairs doctrine, including, without limitation, any action to interpret, apply, enforce or determine the validity of the Amended and Restated Certificate of Incorporation or these Bylaws. Any person or entity purchasing or otherwise acquiring or holding any interest in securities of the Corporation shall be deemed to have notice of and consented to the provisions of this Article VII. To the fullest extent permitted by applicable law, if any action the subject matter of which is within the scope of these Bylaws is filed in a court other than as specified above in the name of any stockholder, such stockholder shall be deemed to have consented to (a) the personal jurisdiction of the Court of Chancery of the State of Delaware, another court in the State of Delaware or the federal district court in the District of Delaware, as appropriate, in connection with any action brought in any such court to enforce these Bylaws and (b)

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having service of process made upon such stockholder in any such action by service upon such stockholder’s counsel in the action as agent for such stockholder.

ARTICLE VIII

MISCELLANEOUS

Section 8.01. Seal. The Board may provide for a corporate seal, which may have the name of the Corporation inscribed thereon and shall otherwise be in such form as may be approved from time to time by the Board.

Section 8.02. Fiscal Year. The fiscal year of the Corporation shall end on the thirty-first day of December of each year unless changed by resolution of the Board.

Section 8.03. Form of Records. Any records maintained by the Corporation in the regular course of its business, including its stock ledger, books of account and minute books, may be kept on or by means of, or be in the form of, any information storage device or method, provided that the records so kept can be converted into clearly legible paper form within a reasonable time. The Corporation shall so convert any records so kept upon the request of any person entitled to inspect such records pursuant to any provision of the DGCL

Section 8.04. Section Headings. Section headings in these Bylaws are for convenience of reference only and shall not be given any substantive effect in limiting or otherwise construing any provision herein.

Section 8.05. Inconsistent Provisions. In the event that any provision of these Bylaws is or becomes inconsistent with any provision of the Amended and Restated Certificate of Incorporation, the DGCL or any other applicable law, such provision of these Bylaws shall not be given any effect to the extent of such inconsistency but shall otherwise be given full force and effect.

ARTICLE IX

AMENDMENTS

Section 9.01. Amendments. Except as otherwise expressly provided by the Amended and Restated Certificate of Incorporation, any Bylaw (including these Bylaws) may be altered, amended or repealed by the vote of the record holders of a majority of the voting power of the shares then entitled to vote at an election of directors or act by written consent of stockholders, or by vote of the Board or by a written consent of directors pursuant to Section 3.08 hereof.

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---

## EX-31.1

SEC source: [a9-30x25exhibit311.htm](https://www.sec.gov/Archives/edgar/data/1702780/000170278025000010/a9-30x25exhibit311.htm)

Exhibit 31.1

CERTIFICATION

I, Dennis Mathew, Chief Executive Officer of Altice USA, Inc., certify that:

1.I have reviewed this Quarterly Report on Form 10-Q of Altice USA, Inc.;

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a)designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including their consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures as of the end of the period covered by this report based on such evaluation; and

(d)disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting;

5.The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: November 6, 2025 By: /s/ Dennis Mathew

Dennis Mathew

Chief Executive Officer

---

## EX-31.2

SEC source: [a9-30x25exhibit312.htm](https://www.sec.gov/Archives/edgar/data/1702780/000170278025000010/a9-30x25exhibit312.htm)

Exhibit 31.2

CERTIFICATION

I, Marc Sirota, Chief Financial Officer of Altice USA, Inc., certify that:

1.I have reviewed this report on Form 10-Q of Altice USA, Inc.;

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a)designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including their consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures as of the end of the period covered by this report based on such evaluation; and

(d)disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting;

5.The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: November 6, 2025 By: /s/ Marc Sirota

Marc Sirota

Chief Financial Officer

---

## EX-32

SEC source: [a9-30x25exhibit32.htm](https://www.sec.gov/Archives/edgar/data/1702780/000170278025000010/a9-30x25exhibit32.htm)

Exhibit 32

Certifications

Pursuant to 18 U.S.C. § 1350, each of the undersigned officers of Altice USA, Inc. ("Altice USA") hereby certifies, to such officer's knowledge, that Altice USA's Quarterly Report on Form 10-Q for the quarter ended September 30, 2025 (the "Report") fully complies with the requirements of Section 13(a) or 15(d), as applicable, of the Securities Exchange Act of 1934, and that the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of Altice USA.

Date: November 6, 2025 By: /s/ Dennis Mathew

Dennis Mathew

Chief Executive Officer

Date: November 6, 2025 By: /s/ Marc Sirota

Marc Sirota

Chief Financial Officer