CSC Investments II LLC, a Delaware limited liability company ("CSC Investments II") and a wholly owned subsidiary of Optimum Communications, Inc. (NYSE:OPTU) ("Optimum"), today announced it has launched a tender offer to purchase up to 120,000,000 shares of Optimum's Class A Common Stock, par value $0.01 per share (the "Class A Common Stock"). The consideration for each share of Class A Common Stock tendered and accepted for purchase pursuant to the tender offer will equal $2.50 (the "Purchase Price"), payable in cash, less any applicable withholding taxes and without interest. The Purchase Price does not, and will not, include any amount with respect to dividends. On May 29, 2026, the last full trading day prior to the announcement of the tender offer, the reported closing price of Optimum's Class A Common Stock on the New York Stock Exchange was $0.658 per share.

CSC Investments II currently expects to fund the tender offer with proceeds from a private placement transaction (as further described in a Form 8-K filed by Optimum on June 1, 2026) (the "Private Placement Transaction") and cash on hand.

Assuming that the tender offer is fully subscribed, the number of shares of Class A Common Stock that will be purchased is 120,000,000, which represents approximately 42.5% of the issued and outstanding shares of Class A Common Stock as of May 27, 2026 (or approximately 30.6% of the total issued and outstanding common stock including both Class A Common Stock and Optimum's Class B common stock) after giving effect to the Private Exchange Transaction (as further described in a Form 8-K filed by Optimum on June 1, 2026).

The tender offer commenced on the date hereof and will expire at 5:00 p.m., New York City Time, on June 30, 2026 (the "Expiration Time"), unless the offer is extended or earlier terminated. The tender offer is not conditioned upon any minimum number of shares being tendered, nor subject to any financing condition. The tender offer is, however, subject to a number of other terms and conditions, as further described in the Offer to Purchase. Shares of Class A Common Stock tendered pursuant to the Offer to Purchase may be validly withdrawn at any time prior to the Expiration Time by following the procedures described in the Offer to Purchase.

If more than 120,000,000 shares of Class A Common Stock (representing an aggregate purchase price of $300 million) are tendered, the tendered shares will be purchased first, from holders of "odd lots" of less than 100 shares, second, from all other stockholders on a pro rata basis, and third, from stockholders whose shares were conditionally validly tendered for which the condition was not initially satisfied, to the extent feasible, by random lot (to be eligible for purchase by random lot, stockholders whose shares are conditionally tendered must have tendered all of their shares). Additionally, if shares of Class A Common Stock having an aggregate purchase amount of more than $300 million are tendered in the tender offer, CSC Investments II may accept for purchase up to an additional 2% of Optimum's outstanding shares of Class A Common Stock without extending the Expiration Time.

Neither CSC Investments II, Optimum, the Board of Managers of CSC Investments II, the Board of Directors of Optimum, the depositary nor the information agent for the tender offer has made any recommendation to any stockholder as to whether to tender or refrain from tendering any shares of Class A Common Stock. Neither CSC Investments II nor Optimum has authorized any person to make any such recommendation. Stockholders must decide whether to tender their shares of Class A Common Stock and, if so, how many shares to tender. In doing so, stockholders should carefully evaluate all of the information in the tender offer documents before making any decision with respect to the tender offer, and should consult their own broker or other financial and tax advisors.

Optimum's directors and executive officers have advised CSC Investments II that they will not participate in the tender offer. Next Alt S.à.r.l. ("Next Alt"), a personal holding company of Patrick Drahi, who is its controlling stockholder, has informed CSC Investments II that it will not participate in the tender offer.

CSC Investments II will pay the Purchase Price for shares it purchases promptly after the expiration of the tender offer and the acceptance of such shares for payment. CSC Investments II expects that it may take until at least three business days after the expiration of the tender offer to calculate the final proration factor, if any, and begin paying for tendered shares.

The Offer to Purchase will be mailed to record holders of the Class A Common Stock and will be furnished to brokers, dealers, commercial banks, trust companies or other nominee stockholders and similar persons whose names, or the names of whose nominees, appear on Optimum's stockholder list or, if applicable, who are listed as participants in a clearing agency's security position listing for subsequent transmittal to beneficial owners of the Class A Common Stock. The Offer to Purchase contains important information that stockholders are urged to read before any decision is made with respect to the tender offer.