#1Cyxtera Cleansing Presentation June 2023 Exhibit 99.2 Cyxtera#2CONFIDENTIAL Disclaimer This Cleansing Presentation (this "Presentation") contains forward-looking information within the meaning of the U.S. federal securities laws, including, without limitation, financial projections and other estimates (collectively, the "Projections") with respect to the anticipated performance of Cyxtera Technologies, Inc. (the "Company"). Those statements include statements regarding the intent, belief or current expectations of the Company and members of its management team, as well as the assumptions on which such statements are based, and generally are identified by the use of words such as "may," "will," "seeks," "anticipates," "believes," "estimates," "expects," "plans," "intends," "should" or similar expressions. The Projections have been prepared in good faith based upon assumptions that the Company believes to be reasonable as of the date on the cover of this Presentation, it being understood that the Projections are as to future events and are not to be viewed as facts, that the Projections are subject to significant uncertainties and contingencies, many of which are beyond the Company's control, that no assurance can be given that any particular Projections will be realized and that actual results during the period or periods covered by any such Projections may differ significantly from the projected results and such differences may be material. You should reference the "Risk Factors" included in the Company's filings with the U.S. Securities and Exchange Commission (the "SEC") from time to time for a discussion of the significant risks, uncertainties and contingencies involving the Company. In addition, the Projections were not prepared with a view to public disclosure or compliance with published guidelines of the SEC, the guidelines established by the Public Company Accounting Oversight Board or U.S. generally accepted accounting principles ("GAAP") or any other applicable accounting principles. The information used to prepare, and contained in, this Presentation is based upon industry, business, financial, legal, regulatory, tax, accounting, actuarial and other information (including, without limitation, Projections) furnished by the Company or information otherwise obtained from public sources, data suppliers and other third parties. The information in this Presentation was prepared by the Company for informational purposes only, and neither the Company or any of its direct or indirect equity holders or affiliates or any of their or their affiliates' respective partners, directors, officers, employees, agents, advisors and other representatives (collectively, with respect to any person or entity, the "Representatives"), bears any responsibility, obligation or liability relating to or arising from, or for the accuracy or completeness (or lack thereof) of, any of the information in this Presentation. No representation, guaranty or warranty (express or implied) regarding this Presentation or as to the accuracy or completeness of any of the information therein, including without limitation any Projections (or any assumptions underlying them, the Company's future operations or the amount of any future income or loss), is made by the Company or any of its affiliates or their (or their affiliates') respective Representatives. Neither the Company or any of its direct or indirect equity holders or affiliates or any of their (or their affiliates') respective Representatives shall have any obligation to update, correct or supplement this Presentation or otherwise provide additional information in connection herewith or any other matter (it being understood that this Presentation speaks only as of the date hereof), and neither the delivery of this Presentation shall, under any circumstances, imply that the information contained herein is correct as of any future date or that there has been no change in the affairs of the Company after the date hereof. This Presentation includes Transaction Adjusted EBITDA and other non-GAAP financial measures. The Company defines Transaction Adjusted EBITDA as net income (loss) before the following items: depreciation and amortization; interest and other expenses, net; income tax expense (benefit); equity-based compensation; stand-up separation and other; restructuring costs and other; straight-line rent adjustment; amortization of favorable / unfavorable leasehold interest and asset retirement obligation accretion; change in fair value of warrant liabilities; transaction-related costs and impairment of note and other receivables from an affiliate. Please see the Appendix to this Presentation for a reconciliation of net loss to Transaction Adjusted EBITDA. The non-GAAP measures provided herein may not be directly comparable to similar measures used by other companies in the Company's industry, as other companies may define such measures differently. The non-GAAP measures presented herein are not measurements of financial performance under GAAP, and should not be considered as alternatives to, and should only be considered together with, the Company's financial results in accordance with GAAP. The Company does not consider these non-GAAP financial measures to be a substitute for, or superior to, the information provided by GAAP financial results. The Company does not provide a forward-looking reconciliation of certain forward-looking non-GAAP measures as the amount and significance of special items required to develop meaningful comparable GAAP financial measures cannot be estimated at this time without unreasonable efforts. These special items could be meaningful. Cyxtera N#3Cyxtera: The Global Data Center Platform Global footprint of more than 60 data centers, in over 30 markets, with a presence in many of the most attractive data center markets Operations across North America, Europe, and Asia 2,300+ customers across all major industry verticals Focused on retail colocation and associated interconnection service CONFIDENTIAL High growth digital exchange technology connects enterprises with leading service providers in a deeply interconnected ecosystem Cyxtera Key Stats 7TV $746MM ¹22 Revenue 60+ Data Centers 29% Customers deployed in more than one data center 2,300+ Customers 100% Long-Term Commitment to Carbon Neutrality w Ja Note: Several cities comprised of multiple markets. London (3), Chicago (2), New Jersey (2), Los Angeles (2) Based on numb of markets, customers, and cross connects; (2) Reflects not income before depreciation and amortization, int est, tax, equity-based compensation, straight-line rent adjustment, amortization of asset retirement obligation accretion, and other. See the Appendix for a reconciliation of GAAP to Non-GAAP results. $239MM ¹22 Transaction Adj. EBITDA(2) 30+ Markets 91% Revenue from large established enterprises ~40,000 Cross Connects 46% Proportion of Footprint Energy Star Certified able/unfavorable leasehold 3#4Edy Diverse Global Presence Cyxtera Singapore CO Tokyo i - A global leader in colocation and interconnection services Expansive portfolio of data centers built and operated to meet and exceed industry standards Robust infrastructure design and experienced operational team Customer-focused approach to global service delivery NORTH AMERICA Los Angeles Vancouver Seattle Silicon Valley CONFIDENTIAL Phoenix Note: Several cities comprised of multiple markets: London (3), Chicago (2), New Jersey (2), Los Angeles (2) (1) Based on availability of infrastructure resources in facilities, measured annually. Denver Albuquerque Minneapolis Chicago Columbus Dallas Toronto Atlanta Montréal Tampa Boston NY/NJ Northern Virginia 30+ 251 Markets Megawatts Total Power Capacity 99.999% Availability(¹) 3+ years London Amsterdam Frankfurt#5We Have Made Demonstrable Progress Toward Our Goals Cyxtera Åå S Improved Capital Structure & Leverage Profile Decreasing Churn Current Occupancy CONFIDENTIAL Substantial Cash Flow Improvement 2Q 2021 5.6x (2Q'21 LTM Financial Net Leverage)(¹) 0.9% (2Q'21 Core Churn, % of MRR) 68% (2Q'21 occupancy rate) -($52) (2021 Cash Flow) (2) Note: $ in Millions. Core bookings and Churn excludes CenturyLink (1) Financial Net Leverage is calculated by dividing Financial Net Debt (Net Debt, adjusted to exclude all Capital Lease obligations) by Adi EBITDA (2) Defined as CFO-Cash Capex 1Q 2023 3.6x (1Q'23 LTM Financial Net Leverage)(¹) 0.8% (1Q'23 Core Churn, % of MRR) 73% (1Q'23 Occupancy Rate) -($39) (1Q'23 LTM Cash Flow)(2)#6Key Credit Highlights#7Highly Attractive Business Model 1 2 3 4 CONFIDENTIAL Cyxtera Scalable, recurring-revenue model with connectivity-driven customer value Established blue-chip customer base with low, stable churn and declining concentration with Lumen Large, diverse facility portfolio in suite of desirable markets Flexible cost structure that is resilient to long-term changes in inflation and demand#81) The Cyxtera Business Model # of 60%+ markets 1 Stabilized Markets Occupancy Rate % 67% 2019 18 67% Cyxtera 2020 16 71% 2021 18 75% 2022 18 Footprint Sellable space and power in key markets Strong demand from existing customers in those key markets Favorable long-term leases that afford maximum optionality Core Exit MRR per Sellable Sq ft. ($) 2 . $25 CONFIDENTIAL 2019 $26 2020 Land $27 2021 $30 Focus on market share gains within existing markets 2022 Target and sell enterprise customers through own salesforce and channel partners Pricing at market rates, with proven ability to raise prices upon renewal MRR per Cab (S) $1,327 3 2019 $1,396 2020 $1,385 2021 $1,562 2022 Expand Grow customer MRR with greater attachment of interconnection, Bare Metal and Digital Exchange Win additional customer workloads through Digital Exchange Facilitate customer expansion through single pane of glass#91) Why Customers Choose Cyxtera Cyxtera CONFIDENTIAL Note: Several cities comprised of multiple markets: London (3), Chicago (2), New Jersey (2), Los Angeles (2) Global Footprint Continuous Innovation Interconnection Customer Centric Operations Scaled platform with 60+ facilities in 30+ markets Track record of developing innovative solutions like Bare Metal and the Digital Exchange fabric Robust interconnection portfolio with densely- connected ecosystems Consistent approach to service delivery and flexible portability of services across the portfolio#101) Connectivity Drives Attachment of Next-Gen Colocation -40,000 cross connects across global platform Offering low-latency, direct connections to all major cloud providers, most within 3ms Connectivity to service providers, networks, and the public cloud - is the single most important factor for enterprises choosing where to deploy their IT infrastructure - Physical and virtual connectivity represents massive incremental value-add (expand) to core colocation services (land) Number of Networks Average Network Providers Available per Site Unique Network Service Providers Percent of data center footprint within 3ms of latency to public cloud on-ramps Cyxtera Initial Current CONFIDENTIAL 467 1,400+ 8 24 106 307+ 94% 89% 89% AWS Azure GCP Digital Exchange Customer Adoption(¹) (# of Customers) Digital Exchange Annualized Revenue(2) (SMM) Interconnection Growth (Monthly Interconnection Revenue per Interconnect) Q1'22 Q2:22 Bare Metal Network Services Q1'22 Q2'22 Q1'21 (1) Customer counts represent customers installed and billing for Digital Exchange Services: (2) Network Services revenue represented as part of both the interconnection revenue and Digital Exchange revenue F YOY growth: 52% Q3'22 Q4'22 Q123 r I YOY growth: 61% Q3'22 Q4'22 Q1'23 r I YOY growth: 10% Q122 Q1'23 10#112) Diversified and Resilient Blue-Chip Customer Base... Total Revenue by Customer Size SMB 9% Cyxtera Enterprise(¹) 91% 91% of revenue generated from large, established private and public organizations Total Revenue by Industry Manufacturing and Retail Transport & Logistics 3% Natural Resources 1% Healthcare 4% Business Services 5% Media & Content 7% CONFIDENTIAL Banking & Securities 12% Network Service Providers 16% Over 50% of customers are connectivity-driven Note: Data as of 3/27/2023, based on full year 2022 recurring revenue. (1) Enterprise = $1B revenue and/or 1,000+ employees Cloud & IT Services 44% Customer Concentration (% of MRR) Other customers 60% Product portfolio and go-to-market strategy tailored to win and retain Core Enterprise workloads Lumen 8% Top 2-10 22% Top 11-20 10% Diverse customer mix with 2,300+ customers and Top 20 Customers -40% 11#122)...is Long-Tenured... Customer 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Top 20 customers Cyxtera Primary vertical Communications, Media, Services Cloud & IT Services Banking & Securities Cloud & IT Services Cloud & IT Services Cloud & IT Services Cloud & IT Services Cloud & IT Services Cloud & IT Services Media & Content Cloud & IT Services Banking & Securities Media & Content Cloud & IT Services Cloud & IT Services Cloud & IT Services Banking & Securities Cloud & IT Services Cloud & IT Services Network Service Providers Note: Data as of 12/31/2022 (1) Cyxtera assets were carved out of Lumen in 2017. Customer Since (3) 2017 2006 2008 2000 2004 2020 2009 2001 2008 2016 2018 2003 2022 2016 2015 2010 2006 2000 2005 2003 CONFIDENTIAL Contracted Years 8 22 16 27 23 5 14 24 10 9 15 24 4 7 11 15 17 24 21 27 (16 Count of DC 37 10 9 8 3 4 3 7 3 1 3 2 1 1 1 N 100 2 5 6 4 24 % of MRR 7.6% 5.2% 4.7% 2.7% 2.2% 1.7% 1.6% 1.5% 1.5% 1.4% 1.3% 1.2% 1.1% 1.0% 0.9% 0.9% 0.8% 0.8% 0.8% 0.7% (39.6% N#13N ...With Low Churn and Stable Revenue Growth YOY% Growth Core Revenue (SMM) $162.5 Cyxtera Q4'21 7.7% $165.9 Q1'22 6.2% $168.8 Q2:22 5.9% $172.8 10.9% YoY growth in Core Revenue Q3'22 7.3% $179.6 04/22 10.5% Q1'23 Core Revenue of $184.0M (vs. $165.9M prior year) Note: Figures exclude Revenue and Churn associated with Lumen as a customer. (1) SIN1 facility was shut down in late 2022. $184.0 Q1'23 CONFIDENTIAL 10.9% Core Churn (Monthly Core Churn % of Average Core MRR) 0.6% Q4'21 1.0% Q1'22 0.7% Q2'22 0.8% Q3:22 0.6% Q4'22 0.8% Q1'23 Q3'22: Normalized for SIN1 facility, Core Churn would be 0.7% (¹) Minimal exposure to SMB segment provides stable performance 13#142 Declining Exposure to Lumen Annual Revenue ($ in Millions) Lumen % of Total Revenue Cyxtera Lumen $691 $95 $595 2020A 13.8% $704 $65 $639 Core 2021A $746 $59 $687 2022A 7.9% $776 $46 $730 2023E 5.9% $800 $39 $761 2024E Note: Ple chart represents contractual square footage by termination date. $855 $39 $816 2025E 4.6% CONFIDENTIAL $906 $39 $867 2026E 4.3% $947 $39 $908 2027E 4.1% Highly Predictable Contract Structure Space in Square Feet 60-Month 72.5% 36-Month 15.3% 24-Month 7,6% Month-to-Month 4.6% 14#153) Large, Diverse Facility Portfolio in Suite of Desirable Markets Strategic data center footprint with a presence in some of the most attractive global data center markets Ample sellable capacity to meet current revenue growth targets requiring limited expansion capital Incremental bookings at no additional lease cost provide a tailwind for margin expansion Cyxtera Note: Square foot and occupancy data as of 03/31/23 CONFIDENTIAL Market Amsterdam Albuquerque Atlanta Boston Chicago Columbus Dallas Denver Frankfurt London Los Angeles Minneapolis Montreal N. Virginia New Jersey Phoenix Seattle Silicon Valley Singapore Tampa Tokyo Toronto Vancouver Total # of DCs 1 1 2 2 4 1 2 3 2 5 3 2 1 6 5 2 3 8 2 1 1 2 1 60 Available SF (000s) 22 7 8 16 57 9 66 24 3 22 54 0.2 2 40 98 22 33 14 0.1 8 0.2 6 1 501 Occupancy 6% 46% 85% 89% 70% 56% 45% 62% 70% 83% 57% 99% 60% 81% 64% 66% 68% 95% 100% 60% 96% 90% 87% 73% 15#164) Diverse and Attractive Leased Assets Cyxtera Tenant Share % Distribution (¹) Multi-tenant CONFIDENTIAL (3) 20% 80% Single tenant -21 years Weighted Avg. Total Lease Term(4) (2) Based on 2022 Revenue, 11.5% of revenue is attributable to sites with leases that roll off in less than 10 years (5) 60+ Leased Data Centers across 30+ Landlords Tenant share based on number of facilities; (2) Includes facilites where Cydera has control of the building; (3) Excludes camer hotels and SINT: (4) Weighted based on May 2022 base rent rate in USD converted int current FX rates: Includes renewal term remaining; (5) Assumes Company exercises its extension options. 16#174) Historically Able to Pass On ~90% of Utility Costs to Customers . . Summary of Total Power Costs ($ in Millions) Cyxtera Total International U.S. Deregulated U.S. Regulated 100% 21% 43% 35% CONFIDENTIAL FY 21 100% 23% 43% GAUR 34% FY'22 YOY Change 15% 18% 24% 13% Power costs have increased significantly in 2022 due to macroeconomic and political factors Contractual flexibility to pass through power costs protects our margins over time Pass through is executed considering customer impact and timing and some costs are not recoverable in period 17#18Business Plan#19Overview of Financial Plan 1 Focus on Existing Customer Base To Drive Revenue Growth 2 Opportunistic Approach to Large, Contiguous Space Opportunities to Accelerate Occupancy in Key Markets 3 4 CONFIDENTIAL 5 Cyxtera Capital Efficient Growth Focused on Completing Current SFO and LHR Projects Streamline Back Office and Go To Market Organization and Processes Achieve Savings Through Optimization of Lease Portfolio and Removal of Public Company Costs (1) (1) Business plan incorporates -$8MM of public company cost savings starting in 04:23E and reflects the Company's preliminary strategy regarding lease renegotiation and rejection strategy that may lead to in excess of -$20-$55MM annual cash rent savings. 19#20Attractive Financial Profile With Considerable Upside Total Revenue (SMM) Growth: ΝΑ $679 $99 $580 2019A Core Churn (Churn % Avg. ΝΑ Core MRR): (SMM) $270 $193 2019A 1.7% $691 $95 $595 Cyxtera 2020A 0.95% Transaction Adjusted EBITDAⓇ) $288 $216 2020A Core(¹) Revenue Growth Rate Lumen 1.9% $704 $65 $639 2021A 0.79% (3) $286 $224 2021A Core! 6.0% $746 $59 $687 2022A 0.78% Transaction Adj. EBITDA $300 $239 2022A -6% 2022-2027E 4.0% $776 $46 $730 2023E 0.83% L__I Transaction Adj. EBITDAR $305 $246 CONFIDENTIAL 2023E 3.1% $800 $39 $761 2024E 0.65% $334 $279 2024E 7.0% $855 $816 2025E 0.65% $380 $324 2025E Transaction Adj. EBITDA Growth Rate 5.9% $906 $39 $867 2026E 0.65% $421 $364 2026E -10% 2022-2027E 4.5% $947 $908 2027E 0.65% $446 $387 2027E Focus on existing customers for revenue growth by increasing escalators and pricing at renewal in line with current industry dynamics Commentary Leverage Large, Contiguous Space strategy to drive occupancy increases and growth at underutilized facilities EBITDA increases to be achieved as occupancy gains and price increases are realized Run-Rate Margin Note: Incorporates -S8MM of public company cost savings starting in Q4'23E. (1) Core revenue excludes Lumen as a customer 2023E projections contemplate the impact of the Bankruptcy case, subject to further diligence and potential material revision. See GAAP to non-GAAP reconciliation of historical periods and definition of non-GAAP measures in Appendix Forward-looking reconciliations of non-GAAP measures are not provided -41% 2027E Transaction Adj. EBITDA margin 20#21Improving Occupancy and Disciplined Cost Management Result in Higher Margins Over Time Gross Margin (% margin) Gross Profit Cost of Revenue 43% 2020A Txn. Adj. EBITDA $300 $390 SG&A $115 42% 31% 2020A 45% $216 2021A $317(¹) $386 $127 Transaction Adj. EBITDA Margin(2) (% margin) 41% 32% 2021A $224 46% 1 2022A $344 $402 $145 40% 32% 2022A $239 I 47% 2023E $361 $415 $136 Transaction Adj. EBITDA % margin 39% 32% 2023E $246 T 48% 2024E $385 $415 $129 Transaction Adj. EBITDAR % margin 42% 35% 2024E CONFIDENTIAL $279 50% 2025E $429 $427 $130 44% 38% 2025E $324 I 51% 2026E $465 $441 $131 47% 40% 2026E $364 I 52% SAMSON 2027E $491 $456 $133 47% 41% 2027E $387 I . . Note: Incorporates -58MM of public cost savings starting in Q4'23E. Cyxtera (1) Moses Lake excluded from 2021 Cost of Revenue, while in public filings a portion of the expense related to Moses Lake remains. (2) See GAAP to non-GAAP reconciliation of historical periods and definition of non-GAAP measures in Appendix Forward-looking reconciliations of non-GAAP measures are not provided. Commentary Operating leverage, higher utilization and gradual reversal of utilities headwinds drive margin expansion High-30s / low-40% medium-term EBITDA margin in line with industry peers 2% -3% of consistent annual margin expansion through 2026 21#22Capital Expenditures Projected Cash Capex (SMM) % of Revenue $83 Cyxtera $29 $22 $31 2020A 12% Core Revenue Growth $66 $26 $18 $22 2021A 11% 7% $132 $45 (¹) $21 $66 2022A Expansion 20% 7% and $123 $29(¹) $45 $48 2023E 16% $74 6% $23 $51 2024E Maintenance & Modernization CONFIDENTIAL 9% $76 $21 $54 2025E Other 9% 7% (2) capex elevated in -time cooling system refurbishment costs driven by regulatory change. (2) Other includes installation, corporate, success-based and bare-metal capital expenditures. $74 $21 2018 2026E 8% 6% $75 $20 $55 2027E 5% Commentary Completion of highly attractive and accretive new builds in 2023 Focus on achieving positive free cash flow via capital efficient growth in 2024 Prospective investors may decide to accelerate growth; further investment opportunities are available across the portfolio, but not assumed herein Installation, Bare Metal, and Corporate Capex consistent with current levels#23Supplemental Information#242QTD Performance Update (as of 6/4/23) . • • • . CONFIDENTIAL RSA announcement seems to have been well received among customers and partners but effect is unclear at this time Bookings through end of May slightly below budget expectations by about 20% Total bookings for the quarter at mid-point expected to have a similar trajectory with a possibility of hitting budget if large proportion of upside opportunities are closed in the quarter Churn through end of May is higher than expected and above budget trend for the quarter Total Churn for the quarter expected to be above budget as Q1 was better due to timing First half churn is expected be approximately mid-teens percent worse than budget Net Bookings is expected to be somewhat negative-to-breakeven in Q2 and the first half of the year The Company projects total bookings for 2023 to be in or around $5 million of MRR Cyxtera 24#25Update on Sale Process - CONFIDENTIAL On or around the IOI deadline set forth in the RSA, the Company received a number of initial indications of interests reflecting a range of potential values for the Company. Such potential values range from above to meaningfully below the current trading levels for the Company's debt, subject to further diligence and refinement. In the coming days and weeks, the Company, with the support of its lenders, will be working to evaluate and explore certain of these proposals to ultimately determine whether to enter into a transaction with a third party or alternatively transition majority ownership to its lenders. It is important to note that each of the proposals received would enable the Company to continue operating its unique global platform with a focus on providing high quality service to customers. Cyxtera#26Appendix#27Reconciliation of GAAP to Non-GAAP Results ($ in Millions) Cyxtera Net Loss to EBITDA Reconciliation: Net Loss Depreciation & Amortization Interest and Other Expenses, Net Income Tax (Benefit) Expense EBITDA Transaction Adjustments Equity-Based Compensation Goodwill Impairment Straight-Line Rent Adjustment CONFIDENTIAL REIT Conversion Costs Amortization of Favorable / Unfavorable Leasehold Interest & ARO Accretion Stand-Up Separation & Other Restructuring Costs & Other Transaction-Related Costs Change in Fair Value of Warrant Liabilities Impairment of Note and Other Receivables from Affiliate Total Adjustments Transaction Adjusted EBITDA Transaction Adjusted EBITDA Margin Source: Company filings. Note: Numbers many not foot or cross foot due to rounding. 2019 ($295.0) 219.8 153.6 (85.9) ($7.5) $15.7 6.5 I 4.6 46.2 127.7 $200.7 $193.2 28.5% 2020 ($122.8) 231.8 169.7 3.5 $282.2 $7.4 2.9 3.5 11.1 6.0 (97.7) ($66.7) $215.6 31.2% 2021 ($257.9) 240.6 165.0 (47.8) $99.9 $9.5 I 3.1 3.4 4.2 73.6 5.2 25.5 - $124.5 $224.4 31.9% 2022 ($355.1) 243.0 165.5 (0.7) $52.7 $22.3 153.6 1.8 2.2 3.6 9.4 5.2 (11.8) $186.1 $238.9 32.0%#28Cash Payments for Capital Leases Cyxtera ($ in Millions) $175 $150 $125 $100 $75 $50 $25 Equipment $136 $29 $107 2020A Data Centers $154 $38 $116 2021A $153 $29 $124 CONFIDENTIAL 2022A $156 $24 $132 2023E $151 $11 $140 2024E Note: Does not incorporate impact the Company's preliminary strategy regarding lease renegotiation and rejection strategy that may lead to excess lease interest expense plus capital lease principal amortization less capital lease accrued interest. $153 $11 $143 2025E $153 $8 $145 2026E 0-555MM annual cash rent savings. $150 $146 2027E se payments represents capital 2