Verizon Expanding Broadband with New Strategic Fiber Agreement

BASKING RIDGE, N.J. – Verizon Communications Inc. (NYSE, Nasdaq: VZ) and Tillman Global Holdings (“Tillman”), today announced a commercial fiber agreement with Eaton Fiber LLC, an affiliate of Tillman, marking another step to accelerate Verizon’s broadband and mobility convergence strategy.

The agreement will expand Verizon’s premium broadband offering, complementing the company’s ongoing fiber builds and planned acquisition of Frontier. The agreement is expected to bring ultra-fast, high-capacity fiber service to homes and customers in markets outside of Verizon’s and Frontier’s current fiber-to-the-home footprint.

“Our strategy is clear: lead the market in premium mobility and broadband convergence, and fiber is the foundation of that leadership,” said Sowmyanarayan Sampath, Executive Vice President for Verizon and CEO for Verizon Consumer. “This agreement allows us to rapidly enter new markets, accelerate deployment speed and ensure we maintain the necessary flexibility to capture growth opportunities across the country.”

“We are pleased to partner with a world-class provider in Verizon,” Sanjiv Ahuja, Founder, Chairman, and CEO of Tillman Global Holdings. “Marking a significant expansion of Tillman’s fiber deployments, this announcement underscores our shared commitment to expanding next-generation infrastructure nationwide.”

Key Highlights:

• Accelerated Market Expansion: The agreement targets serviceable addresses in new markets, will quickly expand Verizon’s fiber availability and allow more customers to access Fios, Verizon’s ultra-fast and highly reliable broadband service.
• Full Residential Retail Exclusivity: Verizon will be the exclusive retail provider of residential fiber services over the new network through the build phase and for an additional time period, ensuring competitive advantage in subscriber acquisition.
• Third-Party Funding: Eaton Fiber will fund and build the network and be responsible for network maintenance and installation. Verizon will be responsible for sales and marketing and end-user customer service.