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Additional Non GAAP Reconciliations EARTHLINK HOLDINGS
CORP. Reconciliation of Net Loss to Unlevered Free Cash Flow (in thousands)
Three Months Ended September 30, December 31, March 31, June 30, September
30, 2013 2013 2014 2014 2014 Net loss (11,338) $ (279,873) $ (26,470) $ (21,838) $ (1,952) $ Interest expense and other, net 13,985 13,972 13,956
14,082 13,970 Income tax provision (benefit) (4,582) 251,260 363 374 (4,329)
Depreciation and amortization 46,689 48,800 46,855 45,615 46,716 Stock-based
compensation expense 1,238 4,057 4,943 2,335 2,930 Impairment of goodwill and
long-lived assets - - 5,334 5,437 589 Restructuring, acquisition and
integration-related costs 9,928 11,562 4,977 4,908 1,108 (Gain) loss from
discontinued operations, net of tax 225 339 (55) (6) - Purchases of property
and equipment (32,792) (33,967) (23,384) (25,965) (24,890) Unlevered Free
Cash Flow 23,353 $ 16,150 $ 26,519 $ 24,942 $ 34,142 $ EARTHLINK HOLDINGS
CORP Reconciliation of Net Cash Provided by Operating Activities to Unlevered
Free Cash Flow (in thousands) Three Months Ended September 30, December 31,
March 31, June 30, September 30, 2013 2013 2014 2014 2014 Net cash provided
by operating activities 39,890 $ 40,726 $ 21,306 $ 17,969 $ 62,063 $ Income
tax provision (benefit) (4,582) 251,260 363 374 (4,329) Non-cash income taxes
4,603 (253,076) (210) (242) 4,391 Interest expense and other, net 13,985
13,972 13,956 14,082 13,970 Amortization of debt discount, premium and issuance
costs (996) (1,017) (1,016) (1,022) (1,029) Restructuring, acquisition and
integration-related costs 9,928 11,562 4,977 4,908 1,108 Changes in operating
assets and liabilities (6,910) (13,612) 10,437 14,732 (16,918) Purchases of
property and equipment (32,792) (33,967) (23,384) (25,965) (24,890) Other,
net 227 302 90 106 (224) Unlevered Free Cash Flow 23,353 $ 16,150 $ 26,519 $ 24,942 $ 34,142 $ Net cash used in investing activities (20,311) (33,967)
(23,384) (25,379) (25,390) Net cash used in financing activities (17,576)
(6,026) (6,045) (2,651) (5,513) 26
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