#1Cyxtera Q1 2022 Earnings Supplemental Data May 12, 2022 Cyxtera#2Disclaimer This presentation includes "forward-looking statements" within the meaning of the federal securities laws. Forward-looking statements contained in this presentation include statements concerning Cyxtera's estimated financial performance for 2022. 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, the effects of the COVID-19 pandemic on Cyxtera's business or future results, including supply chain disruptions; 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 ability to maintain its credit ratings; 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, or impairment charges to Cyxtera's property and equipment, which could result in a significant reduction to its earnings; 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; 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 existing securityholders in the public market, which could cause the market price for Cyxtera's Class A common stock to decline; and 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. 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 im material 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 presentation. Accordingly, you should not place undue reliance upon any such forward-looking statements in this presentation. Neither Cyxtera nor any of its affiliates assume any obligation to update this presentation, 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 Starboard Value Acquisition Corp ("SVAC") in connection with its consideration of the business combination transaction between 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, straight-line rent adjustment, amortization of favorable / unfavorable leasehold interest & asset retirement obligation accretion, stand-up separation & other, restructuring costs & other, 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. Refer to the Appendix to this presentation, which includes a reconciliation of the non-GAAP financial measures included in this presentation to the most directly comparable GAAP financial measures. This presentation also includes certain projections of non-GAAP financial measures concerning Cyxtera. Due to the high variability and difficulty in making accurate forecasts and projections of some of the information excluded from these projected measures, together with some of the excluded information not being ascertainable or accessible, Cyxtera is unable to quantify certain amounts that would be required to be included in the most directly comparable GAAP financial measures without unreasonable effort. Consequently, no disclosure of estimated comparable GAAP measures is included and no reconciliation of the forward-looking non-GAAP financial measures is included. Cyxtera 2#3Presenters Cyxtera Nelson Fonseca - Chief Executive Officer Carlos Sagasta - Chief Financial Officer 3#4Q1 2022 Financial and Business Highlights ● ● Total revenue increased by $9.5 million, or 5.5% year over year, to $182.4 million in the first quarter Recurring revenue increased by $9.0 million, or 5.5% year over year, to $173.7 million in the first quarter Core revenue increased by $9.7 million, or 6.2% year over year, to $165.9 million in the first quarter Cyxtera ● ● ● Transaction Adjusted EBITDA increased by $2.5 million, or 4.5% year over year, to $58.6 million in the first quarter Average monthly Core Churn of 1.0% in the first quarter remained flat with the same quarter of last year Stabilized occupancy of 70.5% at the end of Q1 2022, an increase of 320 basis points year over year Continued to de-lever the balance sheet with Q1 2022 net financial leverage of 3.6x, a decrease from 5.6x as of Q1 2021 Signed partnership agreement with Sify Technologies to enter Indian market and support our customers' expansion needs. Joined the iMasons Climate Accord as we continue our ESG journey#5Core Revenue & Churn Core Revenue ($ in Millions) Cyxtera $156.3 Q1'21 $159.4 Q2'21 $161.0 Q3'21 $162.5 6.2% YoY growth in Core Revenue Q4'21 Q1'22 Core Revenue of $165.9M (vs. $156.3M prior year) Note: Figures exclude Revenue and Churn associated with Lumen as a customer $165.9 Q1'22 Core Churn (Core Churn % of Average Core MRR) 1.0% Q1'21 0.9% Q2'21 0.7% Q3'21 0.6% Q4'21 1.0% Q1'22 Average monthly Core Churn of 1.0% for Q1'22 remained flat with the same quarter of last year#6Q1 2022 Occupancy 2022 YTD Occupancy Bridge 71.4% Q4'21 Cyxtera -0.8% Stabilized (1) Markets -0.1% Lumen 70.5% Q1'22 (1) Stabilized Markets are markets that have been in operation for more than 3 years or have an occupancy rate greater than 50% Stabilized Market Occupancy Trend 67.3% Q1'21 68.4% Q2'21 +3.2% YoY 68.9% Q3'21 71.4% Q4'21 70.5% Q1'22#72022 Priorities Organic Growth ● Strategic Growth Focus on accretive geographic expansion opportunities with disciplined approach to capital allocation and returns ● Maintain occupancy growth in line with 2020/21 performance Increase core revenue growth and continue churn stabilization and reduction Accelerate channel partnership sales and new logo momentum ● Explore avenues for greater property control and ownership Expand liquidity and capital funding diversification Cyxtera Innovation ● ● ● Continued interconnection growth Accelerate adoption of Digital Exchange and Bare Metal platforms Deliver enhanced flexibility to customers by increasing automation and ease of Data Center consumption ESG Focus ● Maintain focus on being responsible stewards of the environment with increased disclosures and strong governance Committed to achieving 100% non-carbon emitting energy consumption by 2030 Continued focus on Employee development and increasing diversity and inclusion in leadership positions 7#8Financial Overview#9Q1 2022 Financial Highlights Revenue ($ in Millions) $172.9 $164.7 Q1'21 Cyxtera $175.4 $167.3 Q2'21 $177.1 $169.3 Q3'21 Consecutive quarters of total revenue growth Non-Recurring $178.4 $170.3 Q4'21 6 Recurring $182.4 $173.7 Q1'22 Transaction Adjusted EBITDA ($ in Millions) $56.1 Q1'21 $62.3 Q2'21 $58.1 Q3'21 YOY growth in Transaction Adjusted EBITDA $48.0 Q4'21 4.5% $58.6 Q1'22#10Core Revenue & Churn Core Revenue ($ in Millions) Cyxtera $156.3 Q1'21 $159.4 Q2'21 $161.0 Q3'21 $162.5 6.2% YoY growth in Core Revenue Q4'21 Q1'22 Core Revenue of $165.9M (vs. $156.3M prior year) Note: Figures exclude Revenue and Churn associated with Lumen as a customer $165.9 Q1'22 Core Churn (Core Churn % of Average Core MRR) 1.0% Q1'21 0.9% Q2'21 0.7% Q3'21 0.6% Q4'21 1.0% Q1'22 Average monthly Core Churn of 1.0% for Q1'22 remained flat with the same quarter of last year 10#11Q1 2022 Results Core revenue increased by $9.7 million, or 6.2%, YoY to $165.9 million Transaction Adjusted EBITDA increased by $2.5 million or 4.5% year- over-year, to $58.6 million, principally due to higher revenue partially offset by higher SG&A costs Cyxtera ($ 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 Q1'22 $173.7 8.7 $182.4 $98.0 53.7% $84.4 46.3% $31.3 17.1% ($10.5) $63.6 34.9% ($5.0) $58.6 32.1% $15.7 $74.3 40.7% $34.0 18.6% (1) Q1 22 includes $11.8M benefit related to change in fair value of derivative liabilities, offset by $1.4M in restructuring, impairment, site closures and related cost. Q1 21 includes $8.1M in restructuring, impairment, site closures and related cost (2) Earnings Before Interest, Taxes, Depreciation, Amortization; (3) Earnings Before Interest, Taxes, Depreciation, Amortization & Rent; Q1'21 $164.7 8.2 $172.9 $98.4 56.9% $74.5 43.1% $27.6 15.9% $8.1 $38.9 22.5% $17.2 $56.1 32.4% $15.0 $71.0 41.1% $13.2 7.7% YOY Change 5.5% 6.8% 5.5% (0.4%) (317 bps) 13.3% 317 bps 13.4% 120 bps (229.5%) 63.6% 1,238 bps 4.5% (31 bps) 4.6% (36 bps) 156.3% 1,095 bps 11#12Revenue Bridge: Q1 2021 to Q1 2022 ($ in Millions) Cyxtera $172.9 Q1'21 +$9.8 Core Recurring Revenue -$0.1 Lumen Net Revenue -$0.1 F/X & Reserves $182.4 Q1'22 12#13Exit MRR Bridge: YE 2021 to YTD 2022 ($ in Millions) $53.5 Q4'21 Cyxtera Core MRR Increase +$1.3MM +$2.8 Core Installations -$1.6 Core Disconnects $0.2 Lumen Installs -$0.2 Lumen Net Disconnects -$0.2 FX $54.6 Q1'22 Core MRR incl. FX increased by $1.1MM or 2.3% to $49.8MM primarily due to net installations 13#14Cost of Revenue Bridge: Q1 2021 to Q1 2022 ($ in Millions) $98.4 Cyxtera Q1'21 $3.7 Utilities $0.5 Other -$2.3 Rent -$1.9 Installation Costs -$0.4 BRM $98.0 Q1'22 14#15Transaction Adjusted EBITDA Bridge: Q1 2021 to Q1 2022 ($ in Millions) Cyxtera (1) (2) $56.1 Q1'21 +$9.5 Change in Revenue + $0.3 Change in Cost of Revenue (2) -$3.7 Change in SG&A -$3.7 Change in Adjustments (1) (2) $58.6 Q1'22 Includes pro form a EBITDA adjustments related to one-time stand-up costs, recurring expenses, restructuring & cost-savings initiatives, as well as product development & start-up costs. Excludes the impact of $11.8M benefit related to change in fair value of derivative liabilities, offset by $1.4M in restructuring, impairment, site closures and related cost in Q1 22 and $8.1M in restructuring, impairment, site closures and related cost in Q1 21 15#16Capital Expenditures Cyxtera (1) Cash CapEx was $32.4MM and $13.7MM in Q1'22 and Q1'21 respectively Q1 2022 CapEx (1) ($ in Millions) 15.2% $27.8 Expansion Q1 2021 CapEx (1) 6.2% $10.7 Expansion 3.2% $5.8 Maintenance 1.2% $2.1 Maintenance 1$-Amount 0.2% $0.4 Corporate 0.3% % of Revenue $0.5 Corporate 18.6% $34.0 Total $-Amount% of Revenue 7.7% $13.2 Total 16#17Leverage Trend Cyxtera 7.6 Q1'21 5.6 7.5 Q2'21 5.6 6.2 Q3'21 3.7 Lease Adj. Leverage (1) 6.4 Q4'21 3.8 Financial Net Leverage (2) 6.1 Q1'22 3.6 (1)) Lease Adjusted Leverage is calculated by dividing financial net debt and secured capital leases + 5x real estate lease payments (5x methodology based on Moody's Communications Infrastructure sector lease capitalization multiple) by LTM Q1 2022A Transaction Adj. EBITDAR; (2) Financial Net Leverage is calculated by dividing Financial Net Debt (Net Debt, adjusted to exclude all Capital Lease obligations) by LTM Q1 2022A Transaction Adj. EBITDA. 17#182022 Financial Guidance Cyxtera ($ in Millions) Revenue Transaction Adjusted EBITDA Maintenance Capital Expenditures Expansion Capital Expenditures 2022E $730 $760 $235 - $253 $26 $28 3.6% - 3.7% - $102 $127 2021A $703.7 $224.4 $21.3 3.0% $67.3 Y/Y % Change 4% -8% 5% -13% 22% -32% 60bps - 70bps 52% -89% 18#19Appendix#20Reconciliation of GAAP to Non-GAAP Results CYXTERA TECHNOLOGIES, INC. RECONCILIATION OF GAAP TO NON-GAAP RESULTS For Three Months Ended March 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) expense EBITDA Transaction Adjustments Equity-based compensation Straight-line rent adjustment Amortization of Favorable/Unfavorable Leasehold Interest & ARO accretion Stand-up separation & other Restructuring costs & other 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 March 31, 2022 2021 (40.9) 62.3 38.1 4.1 $63.6 3.4 0.6 0.9 0.6 1.3 (11.8) (5.0) 58.6 (52.6) 60.6 43.7 (12.9) 38.9 1.8 1.1 0.9 3.1 10.3 17.2 56.1 20#21Capitalization ($ 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 227 227 290 227 3/31/2022 $60 0 867 (3) 1,118 $1,985 1,924 (203) 1,721 (876) (38) 807 8.5x 7.6 6.1 3.6 $184 Rate L + 300 bps L + 300 bps (2) Metric 224 224 287 224 12/31/2021 $52 40 868 (3) 976 $1,885 1,832 (186) 1,646 (758) (32) 856 8.2x 7.4 6.4 3.8 $135 (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 Q1 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 Q1 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 Q1 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 Q1 2022A Transaction Adj.EBITDA. 21#22Cyxtera ©2022 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.