Page 1

Frontier COMMUNICATIONS . . • Frontier Communications Accelerates Fiber Build Out to Reach 10 Million Locations By End of 2025 Reports Second - Quarter 2021 Financial Results Increases 2021 target to extend fiber network to more than 600,000 locations , with approximately 157,000 locations completed in the second quarter Second - quarter revenue of $ 1.62 billion , Adjusted EBITDA of $ 633 million , and operating income of $ 298 million¹ Liquidity of approximately $ 1.5 billion that will help fund fiber network expansion Company to provide strategy update and review second - quarter results at Investor Day beginning today at 11:00 am ET ; webcast available at http://investor.frontier.com NORWALK , Conn . -- Frontier Communications Parent , Inc. ( NASDAQ : FYBR ) ( “ Frontier ” or the " Company " ) today announced that it has accelerated the extension of its fiber network and has set a new objective to reach 10 million total locations by the end of 2025 . Frontier made significant progress toward this objective in the second quarter of 2021 , building fiber to approximately 157,000 new locations . Frontier now expects to reach 600,000 new locations in 2021 , resulting in approximately 4 million fiber locations passed by the end of the year . Nick Jeffery , President and Chief Executive Officer of Frontier , said , “ The acceleration of our fiber network expansion is clear evidence that Frontier's transformation is taking hold . Over the past several months , we've made real progress in executing our strategy – by adding world - class leadership , introducing a purpose - driven culture , improving the customer experience , and making our operations more efficient and sustainable . " Demand for high - speed broadband is growing rapidly , and fiber is the best product to meet the needs of consumers and businesses . Frontier is already doing what customers want and cable can't – delivering symmetrical download and upload speeds with far lower latency than our competition . Early next year , we will start delivering 2 gigabit per second services , further stretching our performance lead to where only fiber can compete . We have hard work ahead of us , but momentum is increasing as we rally the Frontier team around our mission to Build Gigabit America . " At its virtual investor day to be held today , Frontier will provide an update on the fiber buildout and other priorities resulting from its strategic review . These include : • Frontier's current ability to provide a best - in - class offering featuring symmetrical 1 gigabit per second download and upload speeds ; Plans to launch a symmetrical 2 gigabit per second offering in the first quarter of 2022 that will unlock next - generation digital experiences for customers ; 1 Unless otherwise noted , all figures for full year and Q2 2021 include pre - emergence and emergence results .