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 Independent research has outlined how investment in digital 
 infrastructure by the world's largest international TV and broadband 
 company is delivering transformative benefits to European consumers and 
 businesses.
 

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 The analysis by economists Oxera Consulting studied the economic impact 
 of Liberty Global's investment in broadband infrastructure between the 
 start of 2013 and the end of the first quarter of 2017 and concluded 
 that the higher broadband speed, improved productivity and price 
 competition generated social benefits worth €7 billion in Europe. This 
 impressive impact has been enabled by Liberty Global's investment of 
 €14.5 billion(1) in total capital expenditures across all of 
 its European operations in new and existing infrastructure, customer 
 premises equipment, business support and other key services, including a 
 significant investment to bring high-speed internet to four million more 
 European households through new build and upgrades.
 
 
 The report estimates that the economic benefits to society total more 
 than €7 billion since the start of 2013, including €5 billion in speed 
 benefits to customers through access to a greater range and quality of 
 internet services. There is an additional €1.5 billion in productivity 
 benefits through increased output of small businesses and home workers 
 due to better connectivity, and €536 million(2) in price 
 benefits, as Liberty Global's investments often introduce network 
 competition to an area for the first time.
 
 
 Oxera Consulting estimates that the €14.5 billion investment by Liberty 
 Global between the beginning of 2013 and March 2017 has generated a 
 total of €23.7 billion of economic transactions through the supply chain.
 
 
 The report follows the November 2016 launch of Liberty Global's 
 GIGAWorld initiative, which outlines Liberty Global's plans to bring 
 gigabit internet speeds to the European countries in which it operates. 
 Around 50 million homes in Europe have access to Liberty Global's 
 fibre-based "GIGAReady" networks, and the company expects millions more 
 to be connected over the coming years through its previously announced 
 network extension programs in Europe.
 
 
 CEO Mike Fries said: "GIGAWorld is our mission to build robust, 
 reliable, superfast networks that can not only meet the connectivity and 
 speed demands of consumers today, but also support the next-generation 
 devices and applications of tomorrow that will fuel even greater demand. 
 Our significant investment clearly has a positive impact for consumers 
 and businesses across Europe, and we are proud that it simultaneously 
 generates billions for the economy, while creating clear social benefits 
 through improved speed, productivity and competition."
 
 
 Enno Eilts, Partner at Oxera, said: "Liberty Global's significant 
 investment in the reach and capability of its broadband cable network is 
 creating considerable benefits for companies and households across 
 Europe. With the digital economy expanding seven times faster than the 
 rest of the economy(3), high-quality broadband networks are 
 critical. As well as providing consumers with communication and 
 entertainment services, fast and reliable broadband increases the 
 productivity of businesses and provides individuals with access to 
 substantial information and learning resources."
 
 
 Notes to editors
 
 
 Measure of economic footprint
 
 
 In simple monetary terms, Liberty Global has invested €14.5 billion in 
 capital expenditure across its European operations between the start of 
 2013 and the end of Q1 2017.
 
 
 This investment in Europe's communications infrastructure requires 
 supply chains that have a multiplier effect through the wider economy. 
 The total economic footprint of Liberty Global's investment includes the 
 activity of Liberty Global's suppliers, and of the suppliers to those 
 suppliers, and so on up the value chain. The total economic value of 
 this activity is estimated to be €23.7 billion.
 
 
 Measure of net benefits to consumers and businesses
 
 
 Separate from the economic footprint of Liberty Global's investment, the 
 report also estimates the resulting net benefits for its customers 
 (domestic and commercial)—i.e. the incremental benefits that they derive 
 from accessing Liberty Global's new and/or enhanced infrastructure over 
 and above the benefits they would have received without the investment.
 
 
 Consumers and businesses benefit from the following
 
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 <li xmlns="http://www.w3.org/1999/xhtml" class="bwlistitemmargb">
 Speed benefits: High quality broadband networks can benefit 
 consumers in terms of internet connection speed and reliability. Where 
 customers can enjoy greater speeds as a result of switching to a 
 Liberty Global service, this allows them to access a broader range and 
 quality of internet services. For example a new interactive or 
 high-quality service, such as virtual reality using binaural sound, 
 360° live streaming of events, or multiple members of a household 
 being able to stream HD content simultaneously. The estimated speed 
 benefit from Liberty Global's investment to its European consumers and 
 businesses is around €5.0 billion since the start of 2013 up to the 
 end of the first quarter of 2017
 </li>
 <li xmlns="http://www.w3.org/1999/xhtml" class="bwlistitemmargb">
 Productivity benefits: Businesses and home workers benefit from 
 Liberty Global's investment in faster speeds through better 
 productivity. Taking advantage of Liberty Global's investment in 
 enhanced business broadband services, small businesses can communicate 
 through video conferencing and collaborate in real time on projects 
 using cloud-based services. They could save costs through better 
 multi-tasking and having smaller premises. It is estimated that these 
 benefits are worth €1.5 billion across Europe since the start of 2013 
 up to the end of the first quarter of 2017
 </li>
 <li xmlns="http://www.w3.org/1999/xhtml" class="bwlistitemmargb">
 Price benefits: When Liberty Global introduces cable broadband 
 to a new area, this increases competition in the market for high-speed 
 broadband services. Importantly, such a change often introduces 
 network competition to an area for the first time, where consumers 
 previously had access only to services provided over the incumbent's 
 network. Academic evidence shows this competition puts downward 
 pressure on prices for a given level of service, resulting in cost 
 savings, and thus a monetary benefit, to consumers. The estimated 
 benefits to customers are €0.5 billion(2) across Europe 
 since the start of 2013 up to the end of the first quarter of 2017
 </li>
 </ul>
 
 In total, Oxera's report estimates the benefits of Liberty Global's 
 investment in its cable broadband network since 2013 to be worth €7 
 billion to customers and businesses in Europe.
 
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 Footnotes:
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 The €14.5 billion investment amount includes total capital 
 expenditures, which includes customer premises equipment, new build 
 and upgrades, capacity, capitalizable costs associated with 
 maintaining and supporting the business, and products and enablers, 
 of Liberty Global's consolidated European operations from the 
 beginning of 2013 through March 31, 2017, adjusted for inflation.
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 Estimated price benefit of €536 million is calculated over a period 
 of 15 years, in line with European Commission impact assessment 
 guidelines.
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 As estimated by the European Commission.
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 About Liberty Global
 
 
 Liberty Global is the world's largest international TV and broadband 
 company, with operations in more than 30 countries across Europe, Latin 
 America and the Caribbean. We invest in the infrastructure that empowers 
 our customers to make the most of the digital revolution. Our scale and 
 commitment to innovation enable us to develop market-leading products 
 delivered through next-generation networks that connect our 25 million 
 customers who subscribe to over 50 million television, broadband 
 internet and telephony services. We also serve over 10 million mobile 
 subscribers and offer WiFi service across 6 million access points.
 
 
 Liberty Global's businesses are comprised of two stocks: the Liberty 
 Global Group LBTYA LBTYB and LBTYK))) for our European 
 operations, and the LiLAC Group (NASDAQ: LILA and LILAK, OTC Link: 
 LILAB), which consists of our operations in Latin America and the 
 Caribbean. The Liberty Global Group operates in 11 European countries 
 under the consumer brands Virgin Media, Unitymedia, Telenet and UPC. The 
 Liberty Global Group also owns 50% of VodafoneZiggo, a Dutch joint 
 venture, which has 4 million customers, 10 million fixed-line 
 subscribers and 5 million mobile subscribers. The LiLAC Group operates 
 in over 20 countries in Latin America and the Caribbean under the 
 consumer brands VTR, Flow, Liberty, Más Móvil and BTC. In addition, the 
 LiLAC Group operates a sub-sea fiber network throughout the region in 
 over 30 markets.
 
 
 For more information, please visit <a xmlns="http://www.w3.org/1999/xhtml" href="http://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.libertyglobal.com&amp;esheet=51566282&amp;newsitemid=20170530005386&amp;lan=en-US&amp;anchor=www.libertyglobal.com&amp;index=1&amp;md5=4a819ff1457b65a5d918f5657059d2c5" rel="nofollow" rel="nofollow">www.libertyglobal.com</a>.
 
 
 
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