
	Three months ended September 30,				Nine months ended September 30,
	2026		2025		2026		2025
	in millions, except per share amounts
Numerator:

Net earnings (loss) attributable to Liberty Latin America shareholders	$	(70.9)	$	3.3	$	(117.6)	$	(556.4)
Less: Cumulative dividends on Series A Preference Shares (whether or not declared)	(11.3)		—		(13.1)		—
Net earnings (loss) attributable to Liberty Latin America common shareholders – basic and diluted	$	(82.2)	$	3.3	$	(130.7)	$	(556.4)

Denominator:
Basic EPS computation:
Weighted average shares – basic and diluted (a)	194.7		200.2		198.7		199.2
Diluted EPS computation:
Incremental shares attributable to the release of SARs and RSUs upon vesting, the LTVP and the ESPP (treasury stock method)	—		7.5		—		—

Weighted average shares – diluted (b)	194.7		207.7		198.7		199.2

Basic and diluted net earnings (loss) per share attributable to Liberty Latin America common shareholders	$	(0.42)	$	0.02	$	(0.66)	$	(2.79)

(a)During the nine months ended September 30, 2025 and three and nine months ended September 30, 2026, we reported net losses attributable to Liberty Latin America shareholders. As a result, at September 30, 2026 and 2025 the potentially dilutive effects of the following items were not included in the computation of EPS for such periods because their inclusion would have been anti-dilutive to the computation or, in the case of certain PSUs, because such awards had not yet met the applicable performance criteria:


	Three months ended September 30,	Nine months ended September 30,
	2026	2026	2025
	in millions
Aggregate number of shares issuable pursuant to:
Outstanding options, SARs and RSUs (i)	60.4	60.4	45.0
Outstanding PSUs and PSARs (i)	11.8	11.8	8.6
LTVP and ESPP	6.0	6.0	5.8

(i) In connection with the issuance of the Series A Preference Shares in June 2026, outstanding SARs and PSARs were equitably adjusted pursuant to the anti-dilution provisions of the applicable award agreements at conversion ratios of 1.43 and 1.47 for LILA and LILAK awards, respectively, resulting in an increase to the number of shares underlying the awards presented above and a reduction in exercise prices. The 2026 amounts reflect outstanding SARs of 17.4 million and 35.7 million with weighted average exercise prices of $6.98 and $6.81 related to LILA and LILAK awards, respectively, and outstanding PSARs of 3.9 million and 7.9 million with weighted average exercise prices of $9.70 and $9.50 related to LILA and LILAK awards, respectively. The adjustment did not result in any incremental stock-based compensation expense.

(b)We reported net earnings attributable to Liberty Latin America shareholders during the three months ended September 30, 2025. The following table sets forth items for the three months ended September 30, 2025 that have been excluded from our computation of diluted EPS because their inclusion would have been anti-dilutive to the computation or, in the case of certain PSUs, because such awards had not yet met the applicable performance criteria (in millions):