Investor Presentation Safe Harbor Statement FORWARD-LOOKING STATEMENTS Certain statements contained in this presentation, other than historical information, constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding: (i) our business plans, forecasts and projections; (ii) our ability to enter into lease agreements with our targeted customers on a timely basis and on commerc ...

Financial Performance - Net loss for the nine months ended December 31, 2025, was $6,601 thousand, compared to a net income of $72,115 thousand for the same period in 2024, reflecting a significant decline[15]. - The company reported a net loss of $6,601,000 for the three months ended December 31, 2025, compared to a net income of $7,710,000 for the same period in 2024[46]. - Net income for the nine months ended December 31, 2025, increased by approximately $92.7 million to $72.1 million from a net loss of $20.6 million for the same period in 2024[107]. - Net cash used in operating activities was approximately $10.0 million for the nine months ended December 31, 2025, compared to $12.7 million in 2024[110]. - Net cash used in investing activities was $5.6 million for the nine months ended December 31, 2025, compared to $12.7 million in 2024, primarily due to $19.8 million payments for wireless licenses, offset by $14.2 million from spectrum sales[115]. - Net cash used in financing activities decreased to $1.6 million in 2025 from $6.3 million in 2024, mainly for common stock repurchases of $1.0 million and withholding tax payments of $0.7 million[117]. Revenue and Expenses - Spectrum revenue for the three months ended December 31, 2025, was $1,573 thousand, slightly up from $1,566 thousand in the same period of 2024, indicating a 0.4% increase[15]. - For the nine months ended December 31, 2025, total spectrum revenue was $4,543,000, a decrease of 2.1% compared to $4,642,000 in the same period of 2024[38]. - Operating expenses decreased to $11,768 thousand for the three months ended December 31, 2025, down from $15,287 thousand in the same period of 2024, a reduction of 23.5%[15]. - Adjusted general and administrative expenses for the nine months ended December 31, 2025, were $19,656,000, down from $24,254,000 in the same period of 2024, a decrease of 18.5%[46]. - General and administrative expenses decreased by $0.5 million, or -6%, to $8.7 million for the three months ended December 31, 2025, compared to $9.2 million in 2024[105]. Assets and Liabilities - Total assets increased to $417,003 thousand as of December 31, 2025, up from $333,104 thousand on March 31, 2025, representing a growth of 25.2%[13]. - Total liabilities increased to $181,052 thousand as of December 31, 2025, compared to $176,503 thousand on March 31, 2025, an increase of 2.8%[13]. - The accumulated deficit improved to $(320,818) thousand as of December 31, 2025, from $(391,943) thousand on March 31, 2025, indicating a reduction of 18.2%[13]. - Cash and cash equivalents decreased to $29,534 thousand as of December 31, 2025, from $47,374 thousand on March 31, 2025, a decline of 37.6%[13]. - As of December 31, 2025, the total cash and cash equivalents were $29,534,000, down from $47,374,000 as of March 31, 2025, indicating a decrease of 37.6%[25]. Stock and Share Repurchase - The 2023 Share Repurchase Program allows the Company to repurchase up to $250 million of common stock by September 21, 2026, with $226.7 million remaining as of December 31, 2025[73][76]. - A total of 160,076 shares were issued during the nine months ended December 31, 2025, and 405,204 shares during the year ended March 31, 2025, under the 2023 Stock Plan[72]. - The company authorized a new 2023 Share Repurchase Program allowing for the repurchase of up to $250.0 million of common stock by September 21, 2026[146]. - As of December 31, 2025, the maximum dollar value of shares that may yet be purchased under publicly announced plans is $226,672[142]. - No shares were purchased in the open market or through privately negotiated transactions during the reporting period from October 1, 2025, to December 31, 2025[142]. Contracts and Agreements - The company launched a new turnkey tower service, TowerX, in collaboration with Crown Castle to assist utilities in accelerating buildout timelines[29]. - The relaunch of CatalyX, a turnkey SIM provisioning and connectivity management solution, aims to enhance efficiency for utilities[30]. - The Company entered into an agreement to retune and acquire wireless licenses for approximately $28.0 million in June 2025[50]. - The Company entered into a spectrum license sale agreement with CPS Energy for a total payment of $13 million on January 30, 2026[96][100]. - The company has a maximum potential liability of approximately $66.9 million under the Xcel Energy Agreement, with $74.7 million recorded in deferred revenue as of December 31, 2025[121]. Tax and Regulatory Matters - The Company recorded a total tax benefit of $2.1 million and total tax expense of $3.2 million for the nine months ended December 31, 2025[68]. - The effective income tax rates for the three months ended December 31, 2025, and 2024 were -24.4% and -25.1%, respectively, reflecting a decrease due to a lower state effective tax rate[69]. - Federal government shutdowns could adversely impact the company's ability to obtain broadband licenses from the FCC, affecting its commercialization efforts for 900 MHz spectrum assets[138]. Miscellaneous - The financial information for the quarter ended December 31, 2025, includes consolidated balance sheets and statements of operations[147]. - The report was signed by the President and Chief Executive Officer, Scott A. Lang, and the Chief Financial Officer, Elena Marquez, on February 11, 2026[151].

Financial Position - As of December 31, 2025, Anterix had cash and cash equivalents of $29.5 million and no debt, with a restricted cash balance of $8.4 million in escrow deposits[4] - Total assets increased to $417.003 million as of December 31, 2025, compared to $333.104 million as of March 31, 2025[11] - Total cash and cash equivalents and restricted cash at the end of December 31, 2025, was $37.887 million, down from $48.470 million at the beginning of the period[16] - As of December 31, 2025, there is $226.7 million remaining under the share repurchase program[19] Revenue and Income - Spectrum revenue for the three months ended December 31, 2025, was $1.573 million, a slight increase from $1.566 million in the same period of 2024[13] - The company reported a net loss of $6.601 million for the three months ended December 31, 2025, compared to a net income of $7.710 million in the same period of 2024[13] - For the three months ended December 31, 2025, the net loss was $6.601 million compared to a net income of $7.710 million for the same period in 2024[15] Cash Flow - Cash used in operating activities for the nine months ended December 31, 2025, was $10.008 million, an improvement from $12.708 million in the same period of 2024[15] - Cash paid for taxes during the three months ended December 31, 2025, was $3.050 million, significantly higher than $0.173 million in the same period of 2024[16] - Net cash used in investing activities for the nine months ended December 31, 2025, was $5.570 million, a decrease from $12.662 million in the same period of 2024[15] Contractual Agreements and Opportunities - Anterix has approximately $123 million of contracted proceeds outstanding, with over $80 million expected to be received in the fourth quarter of fiscal 2026[7] - The company has a pipeline of approximately $3 billion in prospective contract opportunities across more than 60 potential customers[7] - Anterix entered into a new spectrum sale agreement with CPS Energy for a total contract price of $13 million, with 50% payable upfront and the remaining 50% at the end of fiscal 2027[7] Gains and Expenses - Anterix recorded a gain of $0.8 million from the exchange of broadband licenses and a gain of $0.3 million from the sale of broadband licenses during the quarter[7] - The company reported a gain on the sale of intangible assets of $12.759 million for the nine months ended December 31, 2025[15] - The company incurred stock compensation expenses of $2.215 million for the three months ended December 31, 2025, compared to $2.865 million in the same period of 2024[15] Regulatory Developments - The Federal Communications Commission (FCC) announced a vote to expand the 900 MHz broadband allocation from 6 MHz to 10 MHz, which is expected to enhance private wireless broadband capabilities significantly[7] Share Repurchase - The company has an authorized share repurchase program for up to $250 million, with $226.7 million remaining under the program as of December 31, 2025[4] - The company repurchased 132 shares for a total cost of $4.416 million at an average price of $33.59 per share during the three months ended December 31, 2024[18] Lease Liabilities - Operating lease liabilities decreased by $746,000 for the nine months ended December 31, 2025, compared to a decrease of $1.453 million in the same period of 2024[15]

Core Insights - Anterix reported its third quarter fiscal 2026 results, highlighting financial performance and operational updates [1] Financial and Operational Highlights - Spectrum revenue for the three months ended December 31, 2025, was $1.573 million, slightly up from $1.566 million in the same period of 2024 [12] - For the nine months ended December 31, 2025, spectrum revenue totaled $4.543 million, down from $4.642 million in the prior year [12] - Operating expenses for the third quarter were $11.768 million, a decrease from $15.287 million year-over-year [12] - The net loss for the third quarter was $6.601 million, compared to a net income of $7.710 million in the same quarter of 2024 [12] Liquidity and Balance Sheet - As of December 31, 2025, Anterix had no debt and cash and cash equivalents of $29.5 million, with an additional restricted cash balance of $8.4 million [3] - The company has a share repurchase program authorized for up to $250 million, with $226.7 million remaining as of December 31, 2025 [3][19] Strategic Developments - Anterix has approximately $123 million of contracted proceeds outstanding, with over $80 million expected to be received in the fourth quarter of fiscal 2026 [6] - The company has a pipeline of approximately $3 billion in prospective contract opportunities across more than 60 potential customers [6] - On January 27, 2026, the FCC announced a vote to expand the 900 MHz broadband allocation from 6 MHz to 10 MHz, which is expected to enhance private wireless broadband capabilities for utilities [6] Conference Call Information - Anterix's senior management will hold a conference call on February 12, 2026, to provide a business update [4]

Company Announcement - Anterix will hold a conference call on February 12, 2026, at 9:00 a.m. ET to discuss its third quarter fiscal 2026 results [1] - A press release regarding the results will be issued after the market closes on February 11, 2026 [1] Participation Details - Participants interested in the live Q&A session must pre-register to obtain a dial-in number and unique PIN [2] - It is recommended to join the call at least 10 minutes early, and the call will also be webcast live on Anterix's Investor Relations website [2] Company Overview - Anterix is a leader in mission-critical private wireless broadband spectrum for the utility sector, providing secure, private 900 MHz licensed spectrum and advanced infrastructure solutions [3] - The company aims to enhance efficiency, strengthen resilience, and accelerate digital transformation in critical infrastructure [3] - Anterix is supported by a growing ecosystem of industry-leading partners, contributing to a more resourceful and resilient future [3]

Core Insights - Anterix announced a rebranding and new visual identity at DISTRIBUTECH 2026, emphasizing its growth focus on utilizing its licensed 900 MHz spectrum for utility deployment solutions [1][3] - The company aims to enhance grid modernization by providing private wireless connectivity that unifies data and devices, enabling real-time visibility and operational control for utilities [2][3] Company Activities - At DISTRIBUTECH, Anterix will showcase its collaboration with utility leaders and over 125 technology companies in the Anterix Active Ecosystem (AAE), demonstrating the value of private wireless networks [2][3] - The event will feature live demonstrations and discussions on innovative deployment solutions using Anterix's 900 MHz private wireless broadband, with participation from utility partners like Evergy and Xcel Energy [3] Product and Service Offerings - Anterix's solutions include TowerX™ and CatalyX®, which streamline site readiness and enhance infrastructure resilience against high-impact events [6] - The company focuses on improving worker safety and field efficiency through reliable access to critical applications and data, while also scaling innovations such as EV charging and advanced metering [6] Industry Position - Anterix positions itself as a leading connectivity partner for utilities, providing secure and private 900 MHz licensed spectrum that supports digital transformation and operational efficiency [5][7]

CPS Energy, the nation’s largest community-owned electric and gas utility, will advance grid automation, accelerate outage response, and strengthen operational resilienceWOODLAND PARK, N.J., Feb. 02, 2026 (GLOBE NEWSWIRE) -- Anterix (NASDAQ: ATEX) and CPS Energy today announced a spectrum purchase agreement that will enable CPS Energy to deploy a mission-critical 900 MHz private wireless broadband network, marking a major step forward in strengthening grid operations, enhancing resiliency, reliability, and ...

Board Member Chris Beer Appointed Interim President and CEOSearch Initiated to Identify New President and Chief Executive OfficerToronto, Ontario--(Newsfile Corp. - February 2, 2026) - ATEX Resources Inc. (TSXV: ATX) (OTCQB: ATXRF) ("ATEX" or the "Company") today announced that its Board of Directors (the "Board") has appointed Chris Beer, a member of the Board of ATEX, as Interim President and Chief Executive Officer, as Ben Pullinger has stepped down as President and Chief Executive Officer, for persona ...

Core Insights - Getac Technology Corporation collaborates with Anterix to enhance mission-critical connectivity for utilities and critical infrastructure operators through private LTE networks [1][3] - Getac's B360 and F120 rugged devices have received AnterixActive® badges, validating their performance on Anterix's 900 MHz private LTE spectrum [2][4] - The partnership aims to modernize field operations for utilities, ensuring secure and reliable communications beyond public cellular networks [3][4] Company Overview - Getac is a global leader in rugged mobile technology and intelligent video solutions, serving customers in over 100 countries across various sectors including defense, public safety, and utilities [7] - The company has been recognized as one of Newsweek's "World's Most Trustworthy Companies" for 2024, highlighting its commitment to quality and reliability [8] Industry Context - Anterix provides the 900 MHz spectrum and deployment solutions necessary for private LTE, enabling operational technology and workforce mobility for utilities [4][5] - The collaboration with Getac is part of a broader ecosystem involving over 150 technology providers, aimed at simplifying procurement and accelerating deployment for utility operations [5]

Company Overview - Anterix (ATEX) shares increased by 10.3% to close at $25.93, with notable trading volume compared to typical sessions, and an overall gain of 8.2% over the past four weeks [1] - The company is expected to report a quarterly loss of $0.57 per share, reflecting a year-over-year decline of 23.9%, with revenues projected at $1.53 million, down 2.9% from the previous year [3] Industry Insights - The recent stock uptrend is linked to the FCC's decision to vote on maximizing the 900 MHz band for broadband deployment, which could enhance broadband usage and create new opportunities for utilities and critical infrastructure providers like Anterix [2] - Anterix is part of the Zacks Communication - Infrastructure industry, where another company, Bandwidth (BAND), saw a 2.1% decrease in its stock price, closing at $14.15, with a return of -6.4% over the past month [4] Earnings Estimates - The consensus EPS estimate for Anterix has remained unchanged over the last 30 days, indicating that stock price movements may not sustain without trends in earnings estimate revisions [4] - Bandwidth's consensus EPS estimate is also unchanged at $0.35, representing a decline of 5.4% from the previous year, and it currently holds a Zacks Rank of 4 (Sell) [5]