Achieved all 2022 guidance targets across our FMC Champions and exceeded our Full Company¹ Distributable Cash Flow guidance at Liberty Global²

Full Year revenue growth driven by B2B, mobile and broadband including a strong Q4 commercial performance with broadband and postpaid adds across all of our FMC Champions

Repurchased 14% of shares outstanding in 2022 and reiterating our 10% buyback floor for 2023

Guiding to stable Distributable Cash Flow at Liberty Global in 2023³

Liberty Global plc today announced its Q4 2022 financial results.

CEO Mike Fries stated, “Our fourth quarter and full year results demonstrate the continued resilience of our business model as we delivered on all guidance metrics, despite challenging macro conditions. There remains ever-increasing demand across our footprint for reliable access to high-quality fixed and mobile connectivity and we continue driving product innovation to ensure superior customer experiences. Financially, while we're not immune from the impacts of high energy and labor costs across our core FMC businesses, we continue to take actions to maintain strong operating margins while further investing in our market-leading fixed and mobile networks. This leaves us well positioned to deliver for shareholders in 2023, underpinned by our 10% minimum buyback commitment and $6 billion of liquidity⁴, including $3.4 billion of corporate cash⁽ⁱ⁾.

In Q4, we delivered aggregate⁵ broadband and postpaid mobile growth of 197,000 net new subscribers, supported by a return to broadband additions across all of our FMC markets as well as continuing positive postpaid trends. On the financial front, we reported stable rebased⁶ revenue growth in the U.K.⁷, Belgium, and the Netherlands in Q4 while our rebased revenues across the footprint were broadly stable for the full year. Synergy realization and price adjustments helped support 10%⁽ⁱⁱ⁾ rebased Adjusted EBITDA growth in the U.K. and 5%⁽ⁱⁱ⁾ in Belgium in the fourth quarter, along with stable to growing rebased Adjusted EBITDA across all FMC markets for the full year.

We made big strides on our fixed network strategies in 2022, including the formation of our new joint venture in the U.K. (nexfibre), our FTTH agreement with Fluvius in Belgium and the strong start to our FTTH overlay in Ireland. Furthermore, at VMO2 we accelerated our U.K. Lightning build in 2022 as planned while kicking off the FTTH upgrade of our existing HFC network. And it's worth noting that we already offer gigabit speeds to over 31 million aggregate⁵ homes passed by our fixed networks, which is currently the largest fixed 1Gig footprint in Europe, with a clear roadmap to 10 gigabit broadband speeds for all our FMC Champions.

Financially, we delivered on all of the 2022 guidance targets for our FMC Champions and we exceeded our Full Company Distributable Cash Flow guidance, at guided FX rates. Our FY22 as reported Full Company Distributable Cash Flow of $1.6 billion represented a 17% YoY growth despite FX headwinds during the year. We expect our Distributable Cash Flow to remain broadly stable at $1.6 billion⁽ⁱⁱⁱ⁾ in 2023, supported by shareholder distributions from our joint ventures in the U.K. and the Netherlands and free cash flow from our consolidated operating companies in Switzerland and Belgium.

Our balance sheet remains strong with ~$4.6 billion⁽ⁱ⁾ of total consolidated cash and over $6 billion of total liquidity at year end, providing future optionality. We remain committed to a disciplined capital allocation in our ventures portfolio while driving opportunistic financial investments, such as our recently acquired 5% interest in Vodafone, an undervalued asset with numerous near and mid-term catalysts. Simultaneously, we continue to believe our own shares offer compelling value at current price levels. Supported by our strong cash flow generation, we repurchased 14% of our shares outstanding in 2022, for $1.7 billion, and have retired 50% of our total shares outstanding since 2017. We remain committed to our 10% repurchase floor of shares outstanding in 2023."

Q4 Operating Company Highlights

Sunrise (Consolidated)

Executed on key integration milestones in 2022; Commercial momentum with strong postpaid mobile intake and return to positive broadband net adds in Q4; Achieved 2022 financial guidance

Operating highlights: Sunrise continues to drive strong commercial momentum despite continued headwinds in fixed as a result of the competitive landscape and UPC migration. In Q4, Sunrise achieved 44,000 mobile postpaid net adds, driven by the Sunrise Up and yallo propositions, and 9,200 broadband net adds, demonstrating positive acquisition activity through promotional periods and strong contributions from yallo offerings. Sunrise also delivered key integration milestones in line with the roadmap, achieving nearly 50% of run-rate synergies in 2022 and remains on track to deliver run-rate synergies of approximately CHF 325 million by 2025. Supported by a strong mobile offering together with the powerful fixed line network, FMC penetration remains high at 57% of Sunrise’s broadband base.

Financial highlights: Revenue of $803.6 million in Q4 2022 decreased 2.5% YoY on a reported basis and 2.2% YoY on a rebased basis. The rebased decrease was largely driven by (i) a decrease in fixed subscription revenue due to ARPU pressure on main brand offerings that was only partially offset by strong trading momentum in yallo and (ii) a decrease in low margin business wholesale revenue. Adjusted EBITDA decreased 13.5% on a reported basis and 8.1% on a rebased basis to $257.6 million in Q4 2022, including $7 million of opex costs to capture⁸. The rebased decline was largely driven by (a) the impact of fixed ARPU decline, (b) an increase in MySports programming costs due to phasing and distribution model changes and (c) weaker B2B wholesale performance. Adjusted EBITDA less P&E Additions of $77.7 million in Q4 decreased 23.1% YoY on a reported basis and 15.1% on a rebased basis, including $37 million of opex and capex costs to capture and integration-related capital spend.

Telenet (Consolidated)

FY 2022 outlook achieved on all metrics despite inflationary headwinds; Continued FMC customer expansion

Operating highlights: Continued growth in Telenet's FMC customer base in Q4 2022 driven by successful end-of-year campaigns and growth in the mobile customer base of 10,500 postpaid mobile net additions. During 2022, Telenet entered into a binding agreement with Fluvius to develop “the data network of the future” in Flanders, which is expected to close in summer 2023, where both companies will contribute their fixed network assets to incorporate a new infrastructure company “NetCo” that will invest in the evolution of the current HFC network into a FTTH network. Telenet has also recently signed two commercial fixed wholesale agreements with Orange, providing access to each other's HFC and FTTH networks for a 15-year period.

Financial highlights: Revenue of $728.7 million in Q4 2022 decreased 4.5% YoY on a reported basis and increased 1.7% on a rebased basis. The increase in rebased revenue was primarily due to (i) higher mobile and fixed subscription revenue driven by the June 2022 price rise and (ii) an increase in business wholesale revenue. Adjusted EBITDA decreased 9.3% on a reported basis and increased 4.7% on a rebased basis to $318.7 million in Q4. The increase in rebased Adjusted EBITDA reflects the aforementioned revenue performance as well as continued focus on tight cost control, partially offset by an increase in energy costs and the impact of higher inflation on staff-related expenses. Reported and rebased Adjusted EBITDA less P&E Additions decreased 32.5% and 21.0%, respectively, to $136.6 million in Q4.

VMO2 (Non-consolidated Joint Venture)

VMO2 delivers full year 2022 guidance following strong performance in mobile and synergy development

Operating highlights: Continued customer growth in both fixed and mobile driven by demand for connectivity, resulting in 71,100 postpaid mobile net adds and 22,700 broadband net adds in Q4. Average speed across the broadband base increased 41% YoY to 301 Mbps, approximately 5x higher than the national average. In just over a year since the original launch, VMO2's flagship converged Volt bundles have continued to perform well with 1.3 million customers now taking a Volt bundle. Meanwhile, Project Lightning passed 519,000 new premises in 2022, meeting the stated full year build target. The 2022 premises passed include 24,000 premises that were subsequently transferred to the nexfibre JV formed by Telefónica, Liberty Global and InfraVia in December. VMO2 is the anchor tenant of this joint venture and will provide build services to nexfibre.

Financial highlights (in U.S. GAAP)⁷: Revenue⁹ of $3,214.5 million in Q4 2022 decreased 13.1% YoY on a reported basis and 0.7% YoY on a rebased basis, primarily due to the net effect of (i) a decline in B2B fixed revenue, (ii) a decline in consumer fixed revenue due to a change in customer mix and (iii) an increase in mobile revenue driven by higher service revenue as a result of price rises and an increased customer base, with each revenue category as defined and reported by the VMO2 JV. Adjusted EBITDA⁹ decreased 7.0% YoY on a reported basis and increased 9.7% YoY on a rebased basis to $1,047.0 million, including $41 million of opex costs to capture. The YoY increase in Adjusted EBITDA was supported by the realization of synergies and cost efficiencies, partially offset by increased energy costs. Adjusted EBITDA less P&E Additions⁹ decreased 0.6% YoY on a reported basis and increased 27.5% YoY on a rebased basis to $315.7 million, including $133 million of opex and capex costs to capture.

2023 Guidance (in IFRS as guided by the VMO2 JV)^(iv): Expect to deliver growth in Revenue and mid-single-digit Adjusted EBITDA growth (each as defined and reported by the VMO2 JV), with the first quarter impacted by phasing. Expect opex and capex costs to capture of approximately £150 million and P&E additions of around £2.0 billion. Cash distribution to shareholders is anticipated to be £1.8 to £2.0 billion, including cash from recapitalizations to maintain leverage at the upper-end of the 4-5x range.

For more information regarding the VMO2 JV, including full IFRS disclosures, please visit their investor relations page to access the Q4 earnings release.

VodafoneZiggo (Non-consolidated Joint Venture)

2022 Guidance Achieved; Broadband Customer Growth in Q4

Operating highlights: VodafoneZiggo continues to improve its commercial momentum despite continued promotional intensity in the Dutch market. FMC households¹⁰ grew 22,800 in Q4, bringing the total to over 1.5 million converged households, and FMC SIMs increased by 31,400 in Q4 to a total of nearly 2.6 million, delivering significant Net Promoter Scores and customer loyalty benefits. VodafoneZiggo delivered 26,200 mobile postpaid additions in Q4 and grew mobile postpaid ARPU. Total broadband RGUs returned to growth, increasing by 6,500 in Q4. Gigabit speeds are now available nationwide across 100% of VodafoneZiggo's fixed network footprint.

Financial highlights: Revenue decreased 11.7% on a reported basis and 1.1% on a rebased basis to $1,047.3 million in Q4. The decrease in rebased revenue was primarily driven by a lower B2C fixed customer base, partially offset by a 6.3% increase in mobile service revenue driven by customer and ARPU growth. Adjusted EBITDA decreased 11.6% on a reported basis and 1.1% on a rebased basis to $487.9 million in Q4. The rebased decrease was primarily driven by inflation-related increases in energy and wage costs. Reported and rebased Adjusted EBITDA less P&E Additions decreased 35.4% and 26.9%, respectively, to $172.3 million in Q4.

Q4 ESG Highlights

Over the past year, our Environmental, Social and Governance (ESG) agenda continued to gain momentum across our business. Our ambition to create impact for our people, customers and communities without creating impact for our planet remained central to our sustainability commitments and initiatives. With a focus on energy efficiency, we are not only working to improve the energy consumption of our networks and products, we aim to improve upon the 92% of electricity we purchase from renewable energy sources. Over the next few years, our goal is to procure 100% of our electricity from sustainable sources. Across our operations, we also continue to transition our fleet to electric vehicles, which include e-scooters and e-bikes, in efforts to reduce our carbon emissions. With e-waste considered to be the fastest-growing waste stream in the world today, we are also focused on product responsibility. This means we are working to eliminate single-use plastic in our packaging, design fully recyclable products and packaging, and improve circularity to create best end-of-life practices. Our Connect box, for example, is made with 100% recycled plastic and can be fully recycled at its end of life. We continue to invest in our communities, and leverage our networks and products to bring access and the skills needed to help accelerate an inclusive digital world. We recently celebrated the 20-year anniversary of Safer Internet Day, promoting the safe and responsible use of online and mobile technologies across 180 countries. Since our partnership began in 2007, we have reached over 3.4 million young people and their educators in the area of digital safety. As we look to the coming year, we expect only to enhance our ESG agenda and impact. We have established our ESG Committee, including four directors of the Liberty Global board, and are currently refining our new sustainability and social impact strategy and goals.

At Liberty Global we are creating a culture where everyone is valued and respected. Where we have a positive impact on each other and our communities. Creating inclusive connections every day so that we all belong. We have evolved the way in which we talk about DE&I, focusing on the outcome and impact on a culture of belonging. We believe this makes our purpose and strategy all encompassing, by removing complex terminology, ensuring we are speaking to everyone so that no one is left behind on our journey. We have worked even closer with our Employee Resource Groups (ERGs), that focus on gender, race and ethnicity, multigenerational, disability, neurodiversity and LGBTQIA+, now with an additional ERG joining our ERG collective - focusing on a positive impact on society. By working closely with our ERGs, we are ensuring that we are actively listening and co-creating. We have worked collaboratively across the LG group to ensure that we are ideating on big topics and sharing best practice in areas where we are leading the way. This year we have seen an increase in participation in our dedicated DE&I survey and significant improvement across questions on our DE&I strategy and culture compared to 2021. We have used this data to inform our strategic priorities for 2023. We will continue to measure against our ambitions of increasing diverse representation and removing any potential for bias from our recruitment practices, with business area specific actions and reporting.

Liberty Global Consolidated Q4 Highlights

• Q4 revenue decreased 4.1% YoY on a reported basis and increased 0.8% on a rebased basis to $1,841.9 million
• Q4 earnings (loss) from continuing operations decreased 833.9% YoY on a reported basis to ($4,684.3 million)
• Q4 Adjusted EBITDA decreased 13.4% YoY on a reported basis and 4.4% on a rebased basis to $597.3 million
• Q4 property & equipment additions were 27.1% of revenue, as compared to 25.3% in Q4 2021
• Balance sheet with over $6 billion of total liquidity
  • Comprised of $1.7 billion of cash, $2.9 billion of investments held under SMAs and $1.5 billion of unused borrowing capacity¹¹
• Fully-swapped borrowing cost of 3.2% on a debt balance of $13.8 billion

Customer Growth

Earnings (Loss) from Continuing Operations

Earnings (loss) from continuing operations was ($4,684.3 million) and $638.3 million for the three months ended December 31, 2022 and 2021, respectively, and $1,105.3 million and $13,527.5 million for the year ended December 31, 2022 and 2021, respectively.

Financial Highlights

The following tables present (i) Revenue, Adjusted EBITDA and Adjusted EBITDA less P&E Additions for each of our reportable segments, including the non-consolidated VMO2 JV and VodafoneZiggo JV, for the comparative periods and (ii) the percentage change from period to period on both a reported and rebased basis. Consolidated Adjusted EBITDA and Consolidated Adjusted EBITDA less P&E Additions are non-GAAP measures. For additional information on how these measures are defined and why we believe they are meaningful, see the Glossary.

Leverage and Liquidity

• Total principal amount of debt and finance leases: $13.8 billion

• Average debt tenor: Over 6 years, with ~93% not due until 2028 or thereafter¹²

• Borrowing costs: Blended, fully-swapped cost of debt was 3.2%

• Liquidity: Over $6 billion, including (i) $1.7 billion of cash at December 31, 2022, (ii) $2.9 billion of investments held under SMAs and (iii) $1.5 billion of aggregate unused borrowing capacity under our credit facilities

Forward-Looking Statements and Disclaimer

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements with respect to our strategies, future growth prospects and opportunities; expectations regarding our and our businesses' financial performance, including Revenue and Distributable Cash Flow, as well as the 2023 financial guidance provided by us and our operating companies and joint ventures; expectations of any macroeconomic dynamics that may be beneficial or detrimental to the company; expectations with respect to the integration and synergy plans at the VMO2 JV and at Sunrise, including the timing, costs and anticipated benefits thereof; expectations regarding network and product plans and initiatives; the expected progress of both Project Lightning and the nexfibre joint venture with Telefónica and Infravia in the U.K. as well as the implementation of their operational agreements, the full fiber overlay in the U.K. and Ireland; expected network and 5G investments and future product offerings, including 10 gigabit broadband speeds; the anticipated completion of the NetCo creation between Telenet and Fluvius in Belgium, its anticipated fiber upgrade, and any anticipated benefits to be derived therefrom; our commitments and aspirations with respect to ESG, including our efforts to purchase renewable energy, reduce e-waste, promote digital safety and execute on our DE&I agenda; our share buyback program, including our commitment to repurchase at least 10% of our outstanding shares in 2023; the strength of our and our affiliates' respective balance sheets (including cash and liquidity position); the tenor and cost of our third-party debt and anticipated borrowing capacity; our ventures strategy and anticipated opportunities; anticipated amounts to be received from our subsidiaries and joint ventures and other information and statements that are not historical fact. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied by these statements. These risks and uncertainties include events that are outside of our control, such as the continued use by subscribers and potential subscribers of our and our affiliates’ and joint ventures' services and their willingness to upgrade to our more advanced offerings; our and our affiliates’ ability to meet challenges from competition, to manage rapid technological change or to maintain or increase rates to subscribers or to pass through increased costs to subscribers; the potential impact of pandemics and epidemics on us and our businesses as well as our customers; the effects of changes in laws or regulations; the effects of the U.K.'s exit from the E.U.; general economic factors; our, our affiliates’ and our joint ventures' ability to obtain regulatory approval and satisfy regulatory conditions associated with acquisitions and dispositions; our, our affiliates’ and our joint ventures' ability to successfully acquire and integrate new businesses and realize anticipated efficiencies from acquired businesses; the availability of attractive programming for our, our affiliates’ and our joint ventures' video services and the costs associated with such programming; our, our affiliates’ and our joint ventures' ability to achieve forecasted financial and operating targets; the outcome of any pending or threatened litigation; the ability of our operating companies and affiliates and joint ventures to access the cash of their respective subsidiaries; the impact of our operating companies', affiliates’ and joint ventures' future financial performance, or market conditions generally, on the availability, terms and deployment of capital; fluctuations in currency exchange and interest rates; the ability of suppliers, vendors and contractors to timely deliver quality products, equipment, software, services and access; our, our affiliates’ and our joint ventures' ability to adequately forecast and plan future network requirements including the costs and benefits associated with network expansions; and other factors detailed from time to time in our filings with the Securities and Exchange Commission (the "SEC"), including our most recently filed Form 10-K, Form 10-K/A and Forms 10-Q. These forward-looking statements speak only as of the date of this release. We expressly disclaim any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in our expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

Share Repurchase Program

As previously announced, our Board of Directors authorized a share repurchase program whereby we have committed to repurchasing 10% of our outstanding shares in 2023. Under the program, Liberty Global may acquire from time to time its Class A ordinary shares, Class C ordinary shares, or any combination of Class A and Class C ordinary shares. The program may be effected through open market transactions and/or privately negotiated transactions, which may include derivative transactions. The timing of the repurchase of shares pursuant to the program will depend on a variety of factors, including market conditions and applicable law. The program may be implemented in conjunction with brokers for the Company and other financial institutions with whom the Company has relationships within certain pre-set parameters, and purchases may continue during closed periods in accordance with applicable restrictions. The program may be suspended or discontinued at any time and will terminate upon repurchasing the authorized limits unless further repurchase authorization is provided for.

About Liberty Global

Liberty Global (NASDAQ: LBTYA, LBTYB and LBTYK) is a world leader in converged broadband, video and mobile communications services. We deliver next-generation products through advanced fiber and 5G networks, and currently provide over 86 million connections* across Europe and the United Kingdom. Our businesses operate under some of the best-known consumer brands, including Virgin Media-O2 in the U.K., VodafoneZiggo in The Netherlands, Telenet in Belgium, Sunrise in Switzerland, Virgin Media in Ireland and UPC in Slovakia. Through our substantial scale and commitment to innovation, we are building Tomorrow’s Connections Today, investing in the infrastructure and platforms that empower our customers to make the most of the digital revolution, while deploying the advanced technologies that nations and economies need to thrive.

Our consolidated businesses generate annual revenue of more than $7 billion, while the VMO2 JV and VodafoneZiggo JV generate combined annual revenue of more than $17 billion.**

Liberty Global Ventures, our global investment arm, has a portfolio of more than 75 companies across content, technology and infrastructure, including strategic stakes in companies like ITV, Televisa Univision, Plume, AtlasEdge and the Formula E racing series.

Balance Sheets, Statements of Operations and Statements of Cash Flows

The consolidated balance sheets, statements of operations and statements of cash flows of Liberty Global are in our 10-K.

Rebase Information

Rebase growth percentages, which are non-GAAP measures, are presented as a basis for assessing growth rates on a comparable basis. For purposes of calculating rebased growth rates on a comparable basis for all businesses that we owned during 2022, we have adjusted our historical revenue, Adjusted EBITDA and Adjusted EBITDA less P&E Additions for the three months and year ended December 31, 2021 to (i) include the pre-acquisition revenue, Adjusted EBITDA and P&E additions of entities acquired during 2021 in our rebased amounts for the three months and year ended December 31, 2021 to the same extent that the revenue, Adjusted EBITDA and P&E additions of these entities are included in our results for the three months and year ended December 31, 2022, (ii) exclude from our rebased amounts the revenue, Adjusted EBITDA and P&E additions of entities disposed of during 2022 and 2021 to the same extent that the revenue, Adjusted EBITDA and P&E additions of these entities are excluded in our results for the three months and year ended December 31, 2022, (iii) include in our rebased results the revenue and costs for the temporary elements of transitional and other services provided to the VMO2 JV, the VodafoneZiggo JV, iliad, Vodafone, Deutsche Telekom, Liberty Latin America and M7 Group, to reflect amounts related to these services equal to those included in our results for the three months and year ended December 31, 2022 and (iv) reflect the translation of our rebased amounts at the applicable average foreign currency exchange rates that were used to translate our results for the three months and year ended December 31, 2022. We have reflected the revenue, Adjusted EBITDA and P&E additions of these acquired entities in our 2021 rebased amounts based on what we believe to be the most reliable information that is currently available to us (generally pre-acquisition financial statements), as adjusted for the estimated effects of (a) any significant differences between U.S. GAAP and local generally accepted accounting principles, (b) any significant effects of acquisition accounting adjustments, (c) any significant differences between our accounting policies and those of the acquired entities and (d) other items we deem appropriate. We do not adjust pre-acquisition periods to eliminate nonrecurring items or to give retroactive effect to any changes in estimates that might be implemented during post-acquisition periods. As we did not own or operate the acquired businesses during the pre-acquisition periods, no assurance can be given that we have identified all adjustments necessary to present the revenue, Adjusted EBITDA and Adjusted EBITDA less P&E Additions of these entities on a basis that is comparable to the corresponding post-acquisition amounts that are included in our historical results or that the pre-acquisition financial statements we have relied upon do not contain undetected errors. In addition, the rebased growth percentages are not necessarily indicative of the revenue, Adjusted EBITDA and Adjusted EBITDA less P&E Additions that would have occurred if these transactions had occurred on the dates assumed for purposes of calculating our rebased amounts or the revenue, Adjusted EBITDA and Adjusted EBITDA less P&E Additions that will occur in the future. Investors should view rebased growth as a supplement to, and not a substitute for, U.S. GAAP measures of performance included in our consolidated statements of operations.

The following table provides adjustments made to the 2021 amounts (i) in aggregate for our consolidated reportable segments and (ii) for the non-consolidated VMO2 JV and VodafoneZiggo JV to derive our rebased growth rates:

Liquidity

The following table⁽ⁱ⁾ details the U.S. dollar equivalents of our liquidity position at December 31, 2022, which includes our (i) cash and cash equivalents, (ii) investments held under SMAs and (iii) unused borrowing capacity:

Summary of Debt & Finance Lease Obligations

The following table⁽ⁱ⁾ details the December 31, 2022 U.S. dollar equivalents of the (i) outstanding principal amount of our debt and finance lease obligations, (ii) expected principal related derivative cash payments or receipts and (iii) swapped principal amount of our debt and finance lease obligations:

Property and Equipment Additions and Capital Expenditures

The table below highlights the categories of property and equipment additions of our continuing operations for the indicated periods and reconciles those additions to the capital expenditures of our continuing operations that are presented in the consolidated statements of cash flows in our 10-K.

ARPU per Fixed Customer Relationship

The following table provides ARPU per fixed customer relationship and percentage change from period to period on both a reported and rebased basis for the indicated periods:

Mobile ARPU

The following tables provide ARPU per mobile subscriber and percentage change from period to period on both a reported and rebased basis for the indicated periods:

Footnotes for Operating Data and Subscriber Variance Tables

Additional General Notes to Tables:

Most of our broadband communications subsidiaries provide broadband internet, telephony, data, video or other B2B services. Certain of our B2B revenue is derived from SOHO subscribers that pay a premium price to receive enhanced service levels along with internet, video or telephony services that are the same or similar to the mass marketed products offered to our residential subscribers. All mass marketed products provided to SOHOs, whether or not accompanied by enhanced service levels and/or premium prices, are included in the respective RGU and customer counts of our broadband communications operations, with only those services provided at premium prices considered to be “SOHO RGUs” or “SOHO customers”. To the extent our existing customers upgrade from a residential product offering to a SOHO product offering, the number of SOHO RGUs or SOHO customers will increase, but there is no impact to our total RGU or customer counts. With the exception of our B2B SOHO subscribers and mobile subscribers at medium and large enterprises, we generally do not count customers of B2B services as customers or RGUs for external reporting purposes.

In Belgium, Telenet leases a portion of its network under a long-term finance lease arrangement. These tables include operating statistics for Telenet's owned and leased networks.

While we take appropriate steps to ensure that subscriber statistics are presented on a consistent and accurate basis at any given balance sheet date, the variability from country to country in (i) the nature and pricing of products and services, (ii) the distribution platform, (iii) billing systems, (iv) bad debt collection experience and (v) other factors add complexity to the subscriber counting process. We periodically review our subscriber counting policies and underlying systems to improve the accuracy and consistency of the data reported on a prospective basis. Accordingly, we may from time to time make appropriate adjustments to our subscriber statistics based on those reviews.

Subscriber information for acquired entities is preliminary and subject to adjustment until we have completed our review of such information and determined that it is presented in accordance with our policies.

Footnotes