#1Cyxtera Q4 and FY 2022 Earnings Supplemental Data March 16, 2023 Cyxtera#2Disclaimer This presentation includes "forward-looking statements" within the meaning of the federal securities laws. Because forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of Cyxtera's control. Actual results and conditions (financial or otherwise) may differ materially from those indicated in the forward-looking statements. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results and conditions to differ materially from those indicated in the forward-looking statements, including, but not limited to, risks related to Cyxtera's material indebtedness with near term maturities; Cyxtera's ability to refinance or renew its existing indebtedness on favorable terms or at all; Cyxtera's ability to access external sources of capital on favorable terms or at all, which could limit Cyxtera's ability to execute its business and growth strategies; Cyxtera's ability to maintain its credit ratings; increases in interest rates; fluctuations in energy prices; fluctuations in foreign currency exchange rates in the markets in which Cyxtera operates internationally; inflation; prolonged power outages, shortages or capacity constraints; physical and electronic security breaches and cyber-attacks, which could disrupt Cyxtera's operations; any failure of Cyxtera's physical infrastructure or negative impact on its ability to provide its services, or damage to customer infrastructure within its data centers; inadequate or inaccurate external and internal information, including budget and planning data, which could lead to inaccurate financial forecasts and inappropriate financial decisions; Cyxtera's fluctuating operating results; Cyxtera's government contracts, which are subject to early termination, audits, investigations, sanctions and penalties; Cyxtera's reliance on third parties to provide internet connectivity to its data centers; the incurrence of goodwill and other intangible asset impairment charges, such as Cyxtera's recent impairment of goodwill, or impairment charges to Cyxtera's property and equipment, which could result in a significant reduction to its earnings; the requirements of being a public company, including maintaining adequate internal controls over financial and management systems; Cyxtera's ability to manage its growth; volatility of the market price of Cyxtera's Class A common stock; future sales, or the perception of future sales, of Cyxtera Class A common stock by Cyxtera or its existing securityholders in the public market, which could cause the market price for Cyxtera's Class A common stock to decline; Cyxtera's ability to use its United States federal and state net operating losses to offset future United States federal and applicable state taxable income may be subject to certain limitations that could accelerate or permanently increase taxes owed; Cyxtera's ability to address the significant implementation and operational complexities required to complete a conversion to a REIT, including, without limitation, completing internal reorganizations and modifying accounting and information technology systems, and receiving any necessary stakeholder and other approvals; Cyxtera's ability to apply highly technical and complex provisions of the US Internal Revenue Code, as amended, to its operations; and risks related to the effects of the COVID-19 pandemic on Cyxtera's business or future results, including supply chain disruptions. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the "Risk Factors" disclosed in Cyxtera's filings with the Securities and Exchange Commission ("SEC") from time to time. There may be additional risks that Cyxtera does not presently know or that it currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Cyxtera's expectations, plans or forecasts of future events and views as of the date of this press release. Accordingly, you should not place undue reliance upon any such forward-looking statements in this press release. Neither Cyxtera nor any of its affiliates assume any obligation to update this press release, except as required by law. Statement Regarding Non-GAAP Financial Measures This presentation contains Transaction Adjusted EBITDA, which is a supplemental measure that is not required by, or presented in accordance with, accounting principles generally accepted in the United States ("GAAP"). Transaction Adjusted EBITDA represents the measure of EBITDA disclosed to SVAC in connection with its consideration of the business combination transaction between Starboard Value Acquisition Corp. ("SVAC") and Cyxtera. Cyxtera 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 & other; goodwill impairment; restructuring costs & other; REIT conversion costs; straight-line rent adjustment; amortization of favorable / unfavorable leasehold interest & asset retirement obligation accretion; transaction-related costs; and change in fair value of warrant liabilities. As a non-GAAP financial measure, Transaction Adjusted EBITDA excludes items that are significant in understanding and assessing Cyxtera's financial results or position. Therefore, this measure should not be considered in isolation or as an alternative to net income, cash flows from operations or other measures of profitability, liquidity or performance under GAAP. You should be aware that Cyxtera's presentation of this measure may not be comparable to similarly-titled measures used by other companies. You should review Cyxtera's unaudited financial statements and the reconciliation of the non-GAAP financial measures included in this press release to the most directly comparable GAAP financial measures provided in this release and not rely on any single financial measure to evaluate Cyxtera's business. This presentation includes constant currency revenue and Transaction Adjusted EBITDA, which are non-GAAP financial measures and are not meant to be considered in isolation or as an alternative to GAAP revenue and GAAP net income (loss). Cyxtera has presented these non-GAAP financial measures to provide investors with an additional tool to evaluate its results without the impact of fluctuations in foreign currency exchange rates, thereby facilitating period-to-period comparisons of Cyxtera's business performance. To present this information, Cyxtera's current and comparative prior period revenues and certain operating expenses from entities with functional currencies other than the U.S. dollar are converted into U.S. dollars at a consistent exchange rate for purposes of each result being compared. Cyxtera 2#3Q4 and Full-Year 2022 Financial and Business Summary Total revenue increased by $14.5 million, or 8.1%, to $192.9 million in the fourth quarter. Interconnection revenue accounted for 11.9% of total revenue for Q4 2022 and grew 9.5% year over year. Full-year interconnection revenue accounted for 11.2% of total revenue and grew 1.9% year over year. Stabilized occupancy of 74.9% at year-end 2022 increased 350 basis points year over year. ● On a constant currency basis, total revenue increased by $18.3 million, or 10.3% year over year. Full-year total revenue increased by $42.3 million, or 6.0% year over year, to $746.0 million. ● On a constant currency basis, total revenue increased by $55.1 million, or 7.8% year over year. Core revenue increased by $17.1 million, or 10.5%, to $179.6 million in the fourth quarter. For the full year, Core revenue increased by $48.0 million, or 7.5% year over year, to $687.1 million. Cyxtera ● Transaction Adjusted EBITDA increased by $13.8 million, or 28.8%, to $61.8 million in the fourth quarter. ● On a constant currency basis, Transaction Adjusted EBITDA increased by $15.0 million, or 31.3% year over year. Full-year Transaction Adjusted EBITDA increased by $14.5 million, or 6.4%, year over year, to $238.9 million. On a constant-currency basis, Transaction Adjusted EBITDA increased by $19.9 million, or 8.9% year over year. Average monthly Core Churn of 0.6% in Q4 was in-line with the year-ago level; Full-year average monthly Core churn of 0.8% in 2022 was also in-line with prior year. 12th consecutive quarter of positive net bookings. MRR per cabinet increased 7.3% sequentially and 12.8% year over year to $1,562. 3#4Q4 2022 Financial Performance Revenue ($ in Millions) Cyxtera $178.4 $170.3 Q4'21 $182.4 $173.7 Q1'22 $184.1 Non-Recurring $174.2 Q2'22 Consecutive quarters of total revenue growth $186.6 $178.1 Q3'22 9 Recurring $192.9 $184.6 Q4'22 Transaction Adjusted EBITDA ($ in Millions) $48.0 Q4'21 $58.6 Q1'22 $60.0 Q2¹22 YOY change in Transaction Adjusted EBITDA $58.5 Q3'22 28.8% $61.8 Q4'22#5Core Revenue & Churn Core Revenue ($ in Millions) Cyxtera $162.5 Q4'21 $165.9 Q1'22 +10.5% YoY $168.8 Q2'22 $172.8 Q3'22 Note: Figures exclude Revenue and Churn associated with Lumen as a customer $179.6 Q4'22 Monthly Core Churn (Core Churn % of Average Core MRR) 0.6% Q4'21 1.0% Q1'22 0.7% Q2'22 0.8% 0.6% 1₁ Q3'22 Q4'22 01 5#6Q4 2022 Occupancy 2022 YTD Stabilized Market Occupancy Bridge 71.4% Q4'21 Cyxtera 4.3% Stabilized Markets (1) -0.8% Lumen 74.9% Q4'22 Stabilized Market Occupancy Trend 71.4% Q4'21 (1) Stabilized Markets are markets that have been in operation for more than 3 years or have an occupancy rate greater than 50%. Stabilized Markets excludes partner sites 70.5% Q1'22 +3.5% YoY 74.2% Q2'22 73.7% Q3'22 74.9% Q4'22#7Q4 2022 Results Cyxtera ($ in Millions) Recurring Revenue Non-Recurring Revenue Total Revenue Cost of Revenue As a % of Revenue Gross Profit % Margin Total SG&A As a % of Revenue Other (1) EBITDA % Margin Transaction Adjustments Transaction Adjusted EBITDA (2) % Margin Rent (net of adjustments) Transaction Adjusted EBITDAR(3) % Margin Capital Expenditures As a % of Revenue Q4 '22 $184.6 8.3 $192.9 $105.3 54.6% $87.6 45.4% $40.5 21.0% $154.8 ($107.7) -55.8% $169.5 $61.8 32.0% $15.1 $76.9 39.8% $31.9 16.5% Q4 '21 $170.3 8.1 $178.4 $103.1 57.8% $75.4 42.3% $33.1 18.6% $24.2 $18.0 10.1% $30.0 $48.0 26.9% $15.7 $63.7 35.7% $40.0 22.4% YoY Change (1) QTD Dec 22 includes $153.6M Goodwill Impairment and $1.1 in restructuring, impairment, site closures and related cost. QTD Dec 21 includes $22.8M of change in fair value of warrant liabilities and $1.4M in restructuring, impairment, site closures and related cost. (2) Earnings Before Interest, Taxes, Depreciation & Amortization (3) Earnings Before Interest, Taxes, Depreciation, Amortization & Rent 8.4% 2.6% 8.1% 2.1% (323 bps) 16.3% 317 bps 22.2% 240 bps ΝΑ -699.5% (6,586 bps) 28.8% 514 bps 20.8% 416 bps -20.3% (590 bps) 7#8FY 2022 Results Cyxtera ($ in Millions) Recurring Revenue Non-Recurring Revenue Total Revenue Cost of Revenue As a % of Revenue Gross Profit % Margin Total SG&A As a % of Revenue Other (1) EBITDA % Margin Transaction Adjustments Transaction Adjusted EBITDA(2) % Margin Rent (net of adjustments) Transaction Adjusted EBITDAR(³) % Margin Capital Expenditures As a % of Revenue FY 2022 $710.5 35.4 $746.0 $402.0 53.9% $344.0 46.1% $144.3 19.3% $147.0 $52.7 7.1% $186.1 $238.9 32.0% $60.6 $299.5 40.1% $134.7 18.1% FY 2021 $671.5 32.2 $703.7 $390.5 55.5% $313.2 44.5% $112.8 16.0% $100.5 $99.9 14.2% $124.5 $224.4 31.9% $61.7 $286.1 40.7% $88.5 12.6% (1) YTD Dec 22 includes $153.6M Goodwill Impairment and $5.1M in restructuring, impairment, site closures and related cost partially offset by $11.8M benefit related to change in fair value of derivative liabilities. YTD Dec 21 includes $69.8M in restructuring, impairment, site closures and related cost, $5.2M of Transaction related costs and $25.5M of Change in Fair Value of Warrant Liabilities. (2) Earnings Before Interest, Taxes, Depreciation & Amortization (3) Earnings Before Interest, Taxes, Depreciation, Amortization & Rent YoY Change 5.8% 9.9% 6.0% 3.0% (160 bps) 9.8% 160 bps 27.9% 330 bps ΝΑ -47.2% (713 bps) 6.4% 13 bps 4.7% (51 bps) 52.2% 549 bps#9Constant-Currency Analysis 8.1% 10.3% Q4 Yo Y Revenue Growth Cyxtera (1) YoY represents change i 28.8% 31.3% Q4 YOY AEBITDA Growth ■As Reported in F/X rates Dec 2022 vs Dec 2021 6.0% 7.8% FY Revenue Growth ■Constant Currency 6.4% 8.9% FY AEBITDA Growth Revenue Exposure by Currency 80% 9% 4% 4% 1% 1% 1% USD GBP SGD CAD EURO JPY OTHER 11% YOY (1) 1% YoY 6% YoY 6% YOY 13% YoY#10Revenue Bridge: Q4 2021 to Q4 2022 ($ in Millions) Cyxtera $178.4 Q4'21 +$20.9 Core Net Revenue -$2.6 Lumen Net Revenue -$3.8 F/X $192.9 Q4'22 10#11Exit MRR Bridge: YE 2021 to YE 2022 ($ in Millions) $53.5 Q4'21 Cyxtera Core MRR Increase +$6.7MM +$11.4 Core Installations -$4.7 Core Disconnects $0.2 Lumen Installs -$1.0 Lumen Net Disconnects -$0.8 FX $58.7 Q4'22 Core MRR excl. FX increased by $6.7M or 13.8% to $55.4MM primarily due to net installations 11#12Cost of Revenue Bridge: Q4 2021 to Q4 2022 ($ in Millions) Cyxtera $103.1 Q4'21 $2.6 Utilities -$0.9 Rent -$2.0 Installation Costs $2.5 Other $105.3 Q4'22 12#13Transaction Adjusted EBITDA Bridge: Q4 2021 to Q4 2022 ($ in Millions) Cyxtera $48.0 Q4'21 +$14.5 Change in Revenue -$2.2 Change in Cost of Revenue (2) -$7.3 Change in SG&A +$8.8 Change in Adjustments (1)(2) $61.8 Q4'22 (1) Includes pro forma EBITDA adjustments related to one-time stand-up costs, recurring expenses, restructuring & cost-savings initiatives, as well as product development & start-up costs (2) Excludes $153.6M Goodwill Impairment and $1.1 in restructuring, impairment, site closures and related cost inQ4'22 and excludes $22.8M of change in fair value of warrant liabilities and $1.4M in restructuring, impairment, site closures and related cost in Q4'21 13#14Capital Expenditures Q4 2022 CapEx (1) ($ in Millions) 14.1% $27.1 Expansion Q4 2021 CapEx (1) 18.0% $32.1 Expansion Cyxtera 2.0% $3.9 Maintenance 4.1% ■$-Amount% of Revenue $7.3 Maintenance 0.4% $0.8 Corporate ■$-Amount % of Revenue 0.3% $0.6 Corporate 16.5% $31.9 Total 22.4% $40.0 Total FY 2022 CapEx (1) ($ in Millions) 15.2% $113.6 Expansion FY 2021 CapEx (1) 9.6% $67.3 Expansion (1) Cash CapEx was $31.4MM and $33.4MM in Q4'22 and Q4'21, respectively and was $131.8MM and $77.5MM in YTD 2022 and YTD 2021 respectively. 2.5% $18.5 Maintenance 2.6% $18.4 Maintenance $-Amount% of Revenue 0.4% $2.7 Corporate $-Amount % of Revenue 0.4% $2.9 Corporate 18.1% $134.7 Total 12.6% $88.5 Total 14#15Appendix Cyxtera#16Reconciliation of GAAP to Non-GAAP Results CYXTERA TECHNOLOGIES, INC. RECONCILIATION OF GAAP TO NON-GAAP RESULTS For Three Months Ended December 31, 2022, and 2021 (unaudited, in millions) Cyxtera Net Loss to EBITDA Reconciliation: Net loss Depreciation and amortization Interest and other expenses, net Income tax benefit EBITDA Adjus Equity-based compensation Stand-up separation & other Goodwill Impairment Restructuring costs & other REIT conversion costs Total Adjustments Adjusted EBITDA Straight-line rent adjustment Amortization of Favorable / Unfavorable Leasehold Interest & ARO accretion Change in fair value of warrant liabilities Total Adjustments Transaction Adjusted EBITDA Note: Numbers may not foot or cross-foot due to rounding $ Three Months Ended December 31, 2022 2021 (210.2) 59.9 44.9 (2.3) (107.7) 6.3 6.7 153.6 1.3 0.5 168.3 60.6 0.3 0.9 1.1 61.8 (65.6) 60.0 34.5 (10.9) 18.0 4.1 0.4 | 1.3 5.8 23.8 0.6 0.8 22.8 24.2 48.0 16#17Reconciliation of GAAP to Non-GAAP Results CYXTERA TECHNOLOGIES, INC. RECONCILIATION OF GAAP TO NON-GAAP RESULTS For Three Months Ended December 31, 2022, and 2021 (unaudited, in millions) Cyxtera Net Loss to EBITDA Reconciliation: Net loss Depreciation and amortization Interest and other expenses, net Income tax expense (benefit) EBITDA Adjustments Equity-based compensation Stand-up separation & other Goodwill Impairment Restructuring costs & other REIT conversion costs Total Adjustments Adjusted EBITDA Straight-line rent adjustment Amortization of Favorable / Unfavorable Leasehold Interest & ARO accretion Transaction-related costs Change in fair value of warrant liabilities Total Adjustments Transaction Adjusted EBITDA Note: Numbers may not foot or cross-foot due to rounding GA $ Three Months Ended December 31, 2022 2021 (355.1) 243.0 165.5 (0.7) 52.7 22.3 9.4 153.6 5.2 2.2 192.6 245.3 1.8 3.6 (11.8) (6.5) 238.9 (257.9) 240.6 165.0 (47.8) 99.9 9.5 4.2 I 73.6 87.3 187.3 3.1 3.4 5.2 25.5 37.2 224.4 17#18Capitalization ($ in Millions) Cash and Cash Equivalents Revolver (Maturing 11/2023) 1st Lien Debt (Maturing 5/2024) Capital Leases Total Debt Net Debt (¹) Less: Optional renewal portion of Capital Leases Contractual Net Debt (Excl. Optional Capital Leases) Less: Contractually obligated Capital Leases Less: Equipment Leases Financial Net Debt (Excl. All Capital Leases) Key Credit Metrics TTM Transaction Adj. EBITDA/ Net Leverage (4) TTM Transaction Adj. EBITDA/ Contractual Net Leverage (5) TTM Transaction Adj. EBITDAR/Lease Adjusted Leverage (6) TTM Transaction Adj. EBITDA/Financial Net Leverage (7) Total Liquidity Cyxtera Rate L + 300 bps L +300 bps (2) Metric 239 239 299 239 12/31/2022 $65 42 865 (3) 1,122 $2,029 1,964 (214) 1,749 (861) (46) 842 8.2x 7.3 6.1 3.5 $138 Rate L + 300 bps L + 300 bps (2) Metric 225 225 286 225 9/30/2022 $86 42 864(3) 1,118 $2,025 1,938 (204) 1,735 (870) (45) 820 8.6x 7.7 6.2 3.6 $159 (1) Net Debt is equal to total debt minus cash and cash equivalents; (2) Incremental $100m First Lien Term Loan Interest rate of L + 400 bps; (3) Debt balances are based on GAAP reporting and are shown gross of unamortized issuance costs; (4) Net leverage is calculated by dividing net debt by LTM Q4 2022A Transaction Adj.EBITDA; (5) Contractual Net Leverage is calculated by dividing Contractual Net Debt (which includes the GAAP calculation of Capital Lease obligations, adjusted to exclude obligations attributable to the term of any future lease extension option exercisable at the Company's discretion) by LTM Q4 2022A Transaction Adj.EBITDA; (6) Lease Adjusted Leverage is calculated by dividing financial net debt and secured capital leases + 5x real estate lease payments (5x methodology based on Moody's Communications Infrastructure sector lease capitalization multiple) by LTM Q4 2022A Transaction Adj. EBITDAR; (7) Financial Net Leverage is calculated by dividing Financial Net Debt (Net Debt, adjusted to exclude all Capital Lease obligations) by LTM Q4 2022A Transaction Adj.EBITDA. 18#19Cyxtera ©2023 Cyxtera Technologies, Inc. All Rights Reserved. The Cyxtera logo and certain product names are the property of Cyxtera. All other marks are the property of their respective owners.