This is not tax advice. Please note that the information below is provided solely as a convenience to shareholders. GCI Liberty, Inc. does not provide its shareholders with tax advice and the information below is not intended to provide tax advice. GCI Liberty, Inc. encourages its shareholders to consult with their own tax advisors with respect to their specific questions pertaining to their own tax positions.

On February 2, 2018, General Communication, Inc. (“GCI”) recapitalized its existing common stock (the “Recapitalization”) and changed its name to GCI Liberty, Inc. (“GCI Liberty”). In the Recapitalization, each issued and outstanding share of GCI’s former Class A and Class B Common Stock (“Old GNCMA/B”) was reclassified and exchanged for one share of GCI Liberty’s Class A-1 and Class B-1 Common Stock (“GNCMA/B”). The tax basis of each GNCMA/B share received in the Recapitalization should be the same as the tax basis of the Old GNCMA/B share surrendered in exchange therefor.

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On March 8, 2018, GCI Liberty recapitalized its existing common stock (the “Recapitalization”). In the Recapitalization, each issued and outstanding share of GCI Liberty’s Class A-1 and Class B-1 Common Stock (“GNCMA/B”) was automatically converted into 0.63 of a share of GCI Liberty’s Class A Common Stock (“GLIBA”) and 0.20 of a share of GCI Liberty’s Series A Cumulative Redeemable Preferred Stock (“GLIBP”).

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On March 9, 2018, Liberty Interactive completed the split-off of all the stock of GCI Liberty that it owned. Each holder of Liberty Interactive’s Series A and Series B Liberty Ventures common stock (“LVNTA/B”) received one share of GCI Liberty’s Class A and Class B Common Stock (“GLIBA/B”), respectively, in exchange for each share of LVNTA/B owned by such holder.

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