JANA PARTNERS STATEMENT ON FRONTIER COMMUNICATIONS COMPREHENSIVE REVIEW PROCESS

NEW YORK, Feb. 5, 2024 /PRNewswire/ -- JANA Partners ("JANA"), a shareholder of Frontier Communications Parent, Inc. (NASDAQ: FYBR) ("Frontier" or the "Company"), today issued the following statement regarding Frontier's announcement that its Board of Directors and management team are executing a formal and comprehensive review process of all opportunities to unlock shareholder value.

"We are enthusiastic about Frontier's continued business momentum and potential for shareholders. We support the Company's focus and review of all opportunities to unlock shareholder value – and are confident in the Board and management team's ability to do so."

About JANA Partners

JANA Partners was founded in 2001 by Barry Rosenstein. JANA invests in undervalued public companies and engages with management teams and boards to unlock value for shareholders.

Disclaimer

This press release and the opinions herein are for general information only, and are not intended to be, nor should they be construed as, an offer to sell or a solicitation of an offer to buy any security, a recommendation to purchase or sell any security, or legal, financial, tax, investment, or other advice. Funds managed by JANA currently beneficially own shares of the Company. These funds are in the business of trading (i.e., buying and selling) securities and intend to continue trading in the securities of the Company. You should assume such funds may from time to time sell all or a portion of their holdings of the Company in open market transactions or otherwise, buy additional shares (in open market or privately negotiated transactions or otherwise), or trade in options, puts, calls, swaps or other derivative instruments relating to such shares, subject to applicable law. Consequently, JANA's beneficial ownership of shares of, and/or economic interest in, the Company may vary over time depending on various factors, with or without regard to JANA's views of the Company's business, prospects, or valuation (including the market price of the Company's shares), including without limitation, other investment opportunities available to JANA, concentration of positions in the portfolios managed by JANA, conditions in the securities markets and general economic and industry conditions. JANA reserves the right to change any of its opinions expressed herein at any time as it deems appropriate and disclaims any obligation to notify the market or any other party of any such change, except as required by law.

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SOURCE JANA Partners