| Schedule of Stockholder's Deficit |
The table below summarizes the activity during the nine months ended September 30, 2026 related to the Offering: | | | | | | Nine Months Ended | (In millions) | | September 30, 2026 | Shares issued direct offering | | | 95.3 | Direct offering gross proceeds | | $ | 200.0 | Placement fees paid | | $ | 11.0 | Other third-party issuance costs incurred | | $ | 0.2 | Other third-party issuance costs paid | | $ | 0.2 |
The table below summarizes the activity of the various “at-the-market” offerings for the nine months ended September 30, 2026 and September 30, 2025: | | | | | | | | | Nine Months Ended | (In millions) | | September 30, 2026 | | September 30, 2025 | Shares issued through at-the-market offering | | | 105.3 | | | 17.1 | At-the-market offering gross proceeds | | $ | 150.0 | | $ | 63.0 | Sales agent fees paid | | $ | 3.0 | | $ | 0.6 | Other third-party issuance costs incurred | | $ | 2.6 | | $ | 0.3 | Other third-party issuance costs paid | | $ | 2.2 | | $ | 1.5 |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Accumulated | | | | | | | Class A | | Additional | | Other | | | | Total | | | Common Stock | | Paid-in | | Comprehensive | | Accumulated | | Stockholders’ | (In millions, except share data) | | Shares | | Amount | | Capital | | Loss | | Deficit | | Deficit | Balances December 31, 2025 | | 512,943,561 | | $ | 5.1 | | $ | 7,121.5 | | $ | (42.2) | | $ | (8,979.2) | | $ | (1,894.8) | Net loss | | — | | | — | | | — | | | — | | | (117.1) | | | (117.1) | Other comprehensive loss | | — | | | — | | | — | | | (15.5) | | | — | | | (15.5) | Taxes paid for restricted unit withholdings | | — | | | — | | | (3.7) | | | — | | | — | | | (3.7) | Consent fees paid in shares | | 33,117,743 | | | 0.3 | | | 34.2 | | | — | | | — | | | 34.5 | Shares issued through at-the-market offerings | | 55,224,032 | | | 0.6 | | | 62.2 | | | — | | | — | | | 62.8 | Stock-based compensation (1) | | 3,937,759 | | | 0.1 | | | 7.2 | | | — | | | — | | | 7.3 | Balances March 31, 2026 | | 605,223,095 | | $ | 6.1 | | $ | 7,221.4 | | $ | (57.7) | | $ | (9,096.3) | | $ | (1,926.5) | Net loss | | — | | | — | | | — | | | — | | | (11.4) | | | (11.4) | Other comprehensive loss | | — | | | — | | | — | | | (16.0) | | | — | | | (16.0) | Shares issued through at-the-market offerings | | 50,029,248 | | | 0.5 | | | 81.8 | | | — | | | — | | | 82.3 | Shares issued through registered direct offering | | 95,250,000 | | | 0.9 | | | 187.9 | | | — | | | — | | | 188.8 | Shares issued upon exchange of New Exchangeable Notes | | 142,102,295 | | | 1.4 | | | 225.4 | | | — | | | — | | | 226.8 | Stock-based compensation | | — | | | — | | | 3.3 | | | — | | | — | | | 3.3 | Balances June 30, 2026 | | 892,604,638 | | $ | 8.9 | | $ | 7,719.8 | | $ | (73.7) | | $ | (9,107.7) | | $ | (1,452.7) | Net earnings | | — | | | — | | | — | | | — | | | 109.3 | | | 109.3 | Other comprehensive loss | | — | | | — | | | — | | | (19.7) | | | — | | | (19.7) | Equity issuance costs | | — | | | — | | | (0.7) | | | — | | | — | | | (0.7) | Stock-based compensation | | — | | | — | | | 20.7 | | | — | | | — | | | 20.7 | Balances September 30, 2026 | | 892,604,638 | | $ | 8.9 | | $ | 7,739.8 | | $ | (93.4) | | $ | (8,998.4) | | $ | (1,343.1) |
| (1) | Includes 869,571 Common Stock shares awarded to the board of directors, and 3,068,188 vested Common Stock RSUs and PSUs. |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Accumulated | | | | | | | Class A | | Additional | | Other | | | | Total | | | Common Stock | | Paid-in | | Comprehensive | | Accumulated | | Stockholders’ | (In millions, except share data) | | Shares | | Amount | | Capital | | Loss | | Deficit | | Deficit | Balances December 31, 2024 | | 414,417,797 | | $ | 4.1 | | $ | 6,714.2 | | $ | (132.0) | | $ | (8,346.8) | | $ | (1,760.5) | Net loss | | — | | | — | | | — | | | — | | | (202.1) | | | (202.1) | Other comprehensive income | | — | | | — | | | — | | | 52.7 | | | — | | | 52.7 | Taxes paid for restricted unit withholdings | | — | | | — | | | (4.4) | | | — | | | — | | | (4.4) | Shares issued and proceeds received through at-the-market offerings and forward agreements | | 17,052,756 | | | 0.2 | | | 170.6 | | | — | | | — | | | 170.8 | Stock-based compensation (1) | | 1,673,008 | | | — | | | 5.7 | | | — | | | — | | | 5.7 | Balances March 31, 2025 | | 433,143,561 | | $ | 4.3 | | $ | 6,886.1 | | $ | (79.3) | | $ | (8,548.9) | | $ | (1,737.8) | Net loss | | — | | | — | | | — | | | — | | | (4.7) | | | (4.7) | Other comprehensive income | | — | | | — | | | — | | | 11.1 | | | — | | | 11.1 | Stock-based compensation | | — | | | — | | | 6.0 | | | — | | | — | | | 6.0 | Balances June 30, 2025 | | 433,143,561 | | $ | 4.3 | | $ | 6,892.1 | | $ | (68.2) | | $ | (8,553.6) | | $ | (1,725.4) | Net loss | | — | | | — | | | — | | | — | | | (298.2) | | | (298.2) | Other comprehensive income | | — | | | — | | | — | | | 15.1 | | | — | | | 15.1 | Debt for equity exchange | | 79,800,000 | | | 0.8 | | | 224.2 | | | — | | | — | | | 225.0 | Stock-based compensation | | — | | | — | | | 6.0 | | | — | | | — | | | 6.0 | Balances September 30, 2025 | | 512,943,561 | | $ | 5.1 | | $ | 7,122.3 | | $ | (53.1) | | $ | (8,851.8) | | $ | (1,777.5) |
| (1) | Includes 370,586 Common Stock shares awarded to the board of directors and 1,302,422 vested Common Stock RSUs and PSUs. |
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| Schedule of Nonvested RSU and PSU Activity |
| | | | | | | | | | | | | RSUs | | PSUs | | | | | Weighted | | | | Weighted | | | | | Average | | | | Average | | | Number of | | Grant Date | | Number of | | Grant Date | | | RSUs | | Fair Value | | PSUs | | Fair Value | Nonvested at December 31, 2025 | | 4,573,078 | | $ | 4.73 | | 324,969 | | $ | 3.57 | Granted (1) | | 8,993,593 | | | 2.91 | | 10,512,864 | | | 2.34 | Granted - Special Award | | — | | | — | | 3,778,642 | | | 1.22 | Vested | | (942,900) | | | 5.82 | | (119,307) | | | 3.57 | Vested - Special Award | | — | | | — | | (2,005,981) | | | 1.22 | Cancelled (2) | | (882,087) | | | 5.95 | | (97,339) | | | 3.57 | Cancelled - Special Award (2) | | — | | | — | | (1,772,661) | | | 1.22 | Nonvested at September 30, 2026 | | 11,741,684 | | | 3.16 | | 10,621,187 | | | 2.35 | Tranche Years 2027 and 2028 awarded under the 2026 PSU awards and Tranche Year 2027 awarded under the 2025 PSU awards with grant date fair values to be determined in years 2027 and 2028, respectively (3) | | — | | | | | 8,443,634 | | | | Total nonvested at September 30, 2026 | | 11,741,684 | | | | | 19,064,821 | | | |
| (1) | The number of PSUs granted under the 2026 Tranche Year assumes the Company will vest at 200% for the Adjusted EBITDA performance target, 200% for the free cash flow performance target, 100% for the chief executive officer strategic initiatives performance target, and 200% for the chief financial officer strategic initiatives performance target. |
| (2) | Represents vested RSUs and PSUs surrendered in lieu of taxes. As a result, the Company paid taxes for |
| | restricted unit withholdings of approximately $3.7 million during the nine months ended September 30, 2026. |
| (3) | Assumes PSUs will vest at 100% of targets. |
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