#1Rogers Communications Investor Presentation March 4, 2021 OROGERS GATE AUTOMATIC CAUTION ACTILE SHITCH GERS P10 OROGERS > ROGERS#22| Cautionary note The following materials are for presentation purposes only. These materials should be read in conjunction with the disclosure documents referenced below. Certain statements made in this presentation, including, but not limited to, statements relating to expected future events, financial and operating results, guidance, objectives, plans, strategic priorities and other statements that are not historical facts, are forward-looking. By their nature, forward-looking statements require Rogers' management to make assumptions and predictions and are subject to inherent risks and uncertainties, thus there is risk that the forward-looking statements will not prove to be accurate. Readers are cautioned not to place undue reliance on forward-looking statements as a number of factors could cause actual future results and events to differ materially from that expressed in the forward-looking statements. Accordingly, our comments are subject to the disclaimer and qualified by the assumptions and risk factors referred to in Rogers' 2020 Annual Report (which was issued on March 4, 2021), as filed with securities regulators at sedar.com and sec.gov, and also available at investors.rogers.com. The forward-looking statements made in this presentation and discussion describe our expectations as of today and, accordingly, are subject to change going forward. Except as required by law, Rogers disclaims any intention or obligation to update or revise forward-looking statements. This presentation includes non-GAAP measures, including adjusted EBITDA, adjusted EBITDA margin, adjusted net income, adjusted diluted EPS, adjusted net debt, debt leverage ratio (adjusted net debt / 12-months trailing adjusted EBITDA), and free cash flow. Descriptions of these measures and why they are used can be found in the disclosure documents referenced above. This presentation discusses certain key performance indicators used by Rogers, including total service revenue (total revenue excluding equipment revenue in Wireless and Cable), subscriber counts, ARPA and blended ARPU. Descriptions of these indicators can be found in the disclosure documents referenced above. TM Trademarks of or used under license from Rogers Communications Inc. or an affiliate. All other trademarks are the property of their respective owners. ©2021 Rogers Communications.#33| Diversified Canadian communications & media company GUERRERO JR. 27 Largest Wireless provider and the first Wireless provider to launch 5G in Canada Internet speeds of up to 1 Gbps available across entire cable footprint and Canada's largest cable TV provider Media focused on Canada's largest sports entertainment portfolio 96% of Canada's population reached through our products & services 1.As at December 31, 2020 ~23,500 employees nationwide¹#44| Diversified revenue streams Total revenue 2020 Adjusted EBITDA 2020 $13.9 • Wireless 61% $5.9 Billion • Cable 28% Billion ⚫Wireless 68% • Cable 31% • Media 11% • Media 1% Revenue streams grounded in Wireless and Internet#5Strong balance sheet with healthy liquidity $5.7 B Available liquidity 2 42.7 % Dividend payout ratio of free cash flow¹ 3.0x Debt leverage ratio 2 5| 1. For the year ended December 31, 2020 2. As at December 31, 2020 $30.1 B Market capitalization 2 $38.9 B Total assets 2#66| Key strategic priorities Create best-in-class customer experiences by putting our customers first in everything we do Invest in our networks and technology to deliver leading performance, reliability and coverage Drive growth in each of our lines of business اس Drive best-in-class financial outcomes for our shareholders Develop our people, drive engagement, and build a high- performing and inclusive culture Be a strong, socially and environmentally responsible leader in our communities#77| Overall financial performance in 2020 ($M) -8% Total service revenue 12,965 11,955 2019 Consolidated ($M) -6% Adjusted EBITDA 6,212 5,857 2020 2019 2020#88| Financial outlook COVID-19 impacts, including extended lockdowns, continue to impact longer-term visibility Rogers team continues to focus on customer service and driving efficiency across all businesses For further information, please see the "2021 Full-Year Consolidated Guidance" section in our Fourth Quarter 2020 Press Release#99| Wireless#10Largest wireless provider in Canada Total revenue¹ $8.5 Billion . •Service 77% Equipment 23% Adjusted EBITDA margin of 47.7% Largest wireless service provider in Canada Canada's first and largest³ 5G network 96%1 LTE coverage across Canadian population 1,2 10| Operating under 3 strong brands to target and attract a broad customer base > ROGERS. fido 10.9M $50 chatr MOBILE Wireless subscribers 3 Blended ARPU 3 1. As at or for the year ended December 31, 2020 2. Adjusted EBITDA/total Wireless revenue 3. As of December 31, 2020. Largest based on total square kilometres of Rogers 5G coverage compared to published coverage of other national networks. 4. As at or for the three months ended December 31, 2020#1111| =1 2020 Wireless performance -8% Service revenue -6% +110 bps Adjusted EBITDA ($M) ($M) (%) 7,156 4,345 6,579 4,067 2019 2020 2019 2020 Adjusted EBITDA service margin -9% Blended ARPU ($) 61.8 60.7 55.49 50.75 2019 2020 2019 2020 Postpaid gross adds Postpaid net adds Postpaid churn (000s) (000s) (%) 1,566 1,381 334 245 1.11 1.00 2019 2020 2019 2020 2019 2020#12Substantial wireless growth potential Wireless penetration as % of population 1 Canada China Netherlands 181% 152% 149% 147% 136% 134% 129% 123% 109% 107% 100% 95% 92% France Spain 12 1 Source: BAML Global Wireless Matrix, January 2021 mobile penetration (mobile subscribers/population) USA Italy Korea Australia Revenue growth opportunities in Canada supported by lower relative penetration Significant growth in data consumption being driven by increasing video consumption and launch of unlimited data plans Rogers is well positioned with its world-class, first-to-market 5G network, and asset mix to take advantage of this growth Germany Japan Portugal Finland#13• • Robust wireless network speeds and quality in Canada Average Mobile Download Speeds (Mbps)1 41 43 56 56 Italy Portugal Japan 47 France 81 78 77 74 U.K. 67 67 61 59 Germany Singapore U.S.A Sweden 110 70 Hong Kong 72 Taiwan Denmark New Zealand 00 90 97 97 156 169 178 Bulgaria Switzerland Canada China South Korea Qatar Long-term evolution (LTE) networks are available to approximately 99.5% of Canadians² Fastest average mobile download connection speeds among all the G7 countries² - a result of supportive facilities-based government policies 1 Source: Speedtest Global Index December 2020 - https://www.speedtest.net/global-index#mobile 13| 2 Canadian Wireless Telecommunications Association (CWTA) - https://www.cwta.ca/facts-figures/#14Leading the way on 5G 5G 5G 5G 5G BRITIS 5G COLUMB 5G 5G 5G 5G 5G 5G 5G Canada ada MANITOBA SKATCHEWAN 5G 5G 5G 5G 5G 5G ONTARIO 5G QUEBEC Canada's Largest 5G Network More than 170 communities 1 Canada's first 5G standalone core network 5G NEWFOUNDLAND AND LABRADOR NB 5G 5G PE NOVA SCOTIA 14 | 1. As of December 31, 2020. Largest based on total square kilometres of Rogers 5G coverage compared to published coverage of other national networks.#1515 5G Partnerships: Building the ecosystem with leading institutions TELSTRA UBC UNIVERSITY OF WATERLOO O ROGERS vodafone Ryerson University verizon kt 5G Cybersecure Catalyst américa móvil COMMUNITECH ENCOOR 50 Invested in the 5G Partner Ecosystem All brand names, logos, and marks are trademarks and/or copyright of their respective owners. All rights reserved. ©2021 Rogers Communications#1616| Cable#17• • Extensive cable footprint in Canada Total revenue $3.9B₁ Adjusted EBITDA margin of 49.0%" 1,2 Largest cable footprint across Ontario, New Brunswick, and Newfoundland with 4.6M¹ homes passed One of Canada's leading providers of high-speed Internet, cable television, and phone services Ignite Gigabit Internet service available across all of our Cable footprint Enhanced Cable offerings with Ignite TV - an all-IPTV platform licensed from Comcast Ontario is home to ~40% of Canada's population 2.5M Customer relationships 3 2.6M Internet subscribers 3 55% Penetration³ 1. For the year ended December 31, 2020 2. Adjusted EBITDA / total revenue 17 3. As at or for the three months ended December 31, 2020#1818| 2020 Cable performance -% Revenue ($M) ($M) 3,956 3,946 +1% Adjusted EBITDA +50 bps Adjusted EBITDA margin (%) 1,919 1,935 49.0 48.5 2019 2020 2019 2020 2019 2020 Total customer relationships1 Internet net adds Penetration (000s) (000s) (%) 2,530 2,510 104 56.1 57 55.3 2019 2020 2019 2020 2019 2020 1. In September 30, 2020, we acquired approximately 2,000 Internet subscribers and customer relationships as a result of our acquisition of Ruralwave Inc. and on October 1, 2020, we acquired approximately 5,000 Internet subscribers and 6,000 customer relationships as a result of our acquisition of Cable Cable Inc.. Both of these acquisitions are not included in net additions, but do appear in the ending total balance for December 31, 2020#19Ignite Gigabit Internet Ignite Gigabit Internet service available across our entire Cable footprint Hybrid fibre-coaxial network supported by DOCSIS 3.1 technology DOCSIS 4.0 update to potentially enable download speeds of up to 10 Gbps FTTH efficiently deployed in targeted and greenfield areas 16 19#2020 Enhancing Cable offerings with Ignite TV Ignite TV available across entire cable footprint Premium service with advanced features: • natural language voice search and commands deep integration of streaming services like Netflix cloud DVR recommendation engine State-of-the-art customer premise equipment • "wall-to-wall" Wi-Fi . solid-state wireless set-top box Premium, all-IPTV service with a continuous roadmap of innovation leading to a truly connected home service TV ن Power All Power Mute VOL CH On Demand/TV/ Most Popular Filter: Off Sort: Popular Replay ➤II GREY'S ANATOMY Exit BULL Guide OROGERS A Menu Last Info B CD 1 2 3 4 5 6 7 8 9 0 Setup TV put CRIMINAL Real Housewives IGNITE.TV 3:35p/7°C 290 Results ides#2121 SPORTSNET Media CONNECTED SPORTSNET 1 1 N H H H14 12x SN#2222 Coveted Media and Sports assets Focused on live sports and local content SN Sportsnet remains Canada's #1 sports media brand NHL BLUE TORONTO JAYS Exclusive national licensing agreement until 2026 MATTHEWS ORONT Owner of the Toronto Blue Jays baseball club 680 NEWS JACK Citytv 96.9 Kiss 92.5 BT EJ 98.1 CHFI GATO FRUST M#2323 | Financial performance 9#24Consolidated financial results Rogers Communications Inc. Consolidated Financial Results (unaudited) 2020 (In millions of dollars, except per share amounts) Annual Q4'20 Q3'20 Q2'20 Q1'20 2019 Annual Q4'19 Q3'19 Q2'19 Q1'19 Revenue Wireless 8,530 2,291 2,228 1,934 2,077 9,250 2,493 2,324 2,244 2,189 Cable 3,946 1,019 988 966 973 3,954 987 994 997 976 Media 1,606 409 489 296 412 2,072 530 483 591 468 Corporate items and intercompany eliminations (166) (39) (40) (41) (46) (203) (58) (47) (52) (46) Revenue 13,916 3,680 3,665 3,155 3,416 15,073 3,952 3,754 3,780 3,587 Total service revenue 11,955 3,023 3,086 2,797 3,049 12,965 3,244 3,233 3,345 3,143 Adjusted EBITDA 2 Wireless 4,067 1,034 1,089 918 1,026 4,345 1,064 1,138 1,128 1,015 Cable 1,935 520 508 454 453 1,919 497 499 478 445 Media 51 82 89 (35) (85) 140 22 130 72 (84) Corporate items and intercompany eliminations (196) (46) (48) (43) (59) (192) (53) (55) (43) (41) Adjusted EBITDA 5,857 1,590 1,638 1,294 1,335 6,212 1,530 1,712 1,635 1,335 Deduct (add): Depreciation and amortization 2,618 666 663 650 639 2,488 638 627 614 609 Restructuring, acquisition and other 185 73 49 42 21 139 38 42 39 20 Finance costs 881 228 219 214 220 840 230 215 206 189 Other expense (income) 1 2 6 7 (14) (10) (12) 16 (1) (13) Net income before income tax expense 2,172 621 701 381 469 2,755 636 812 777 530 Income tax expense 580 172 189 102 117 712 168 219 186 139 1,592 449 512 279 352 2,043 468 593 591 391 Net income Earnings per share: Basic Diluted Net income Add (deduct): Restructuring, acquisition and other Loss on repayment of long-term debt Income tax impact of above items Income tax adjustment, legislative tax change Adjusted net income 2 Adjusted earnings per share 2: Basic Diluted 1 See "Key Performance Indicators". $3.15 $0.89 $1.01 $0.55 $0.70 $3.13 $0.89 $1.01 $0.54 $0.68 1,592 449 512 279 185 73 49 42 (49) (19) (13) (11) (3) (3) 1,725 500 548 310 ༄༅་ལྷ་ས།༄ །g $3.99 $0.92 $1.16 $1.15 $0.76 $3.97 $0.92 $1.14 $1.15 $0.76 2,043 468 593 591 391 139 38 42 39 20 19 19 (43) (14) (13) (10) (6) (23) (23) 2,135 511 622 597 405 $3.42 $3.40 $0.99 $0.99 $1.09 $1.08 $0.61 $0.60 $0.73 $0.71 $4.17 $1.00 $4.15 $1.00 $1.22 $1.19 $1.17 $0.79 $1.16 $0.78 24 2 Adjusted EBITDA and adjusted net income are non-GAAP measures and should not be considered substitutes or alternatives for GAAP measures. These are not defined terms under IFRS and do not have standard meanings, so may not be a reliable way to compare us to other companies. See "Non-GAAP Measures and Related Performance Measures" for information about these measures, including how we calculate them and the ratios in which they are used.#25Wireless Rogers Communications Inc. Wireless (unaudited) 2020 2019 (In millions of dollars, except margins) Annual Q4'20 Q3'20 Q2'20 Q1'20 Annual Q4'19 Q3'19 Q2'19 Q1'19 Revenue Service revenue Equipment revenue Revenue Operating expenses Cost of equipment Other operating expenses Operating expenses Adjusted EBITDA Adjusted EBITDA service margin 1 Adjusted EBITDA margin 2 Capital expenditures Calculated using service revenue. 2 Calculated using total revenue. Subscriber Results 1 (In thousands, except churn, blended ABPU, and blended ARPU) Postpaid Gross additions Net additions (losses) Total postpaid subscribers 2 Churn (monthly) 6,579 1,637 1,652 1,578 1,712 7,156 1,788 1,808 1,813 1,747 1,951 654 576 356 365 2,094 705 516 431 442 8,530 2,291 2,228 1,934 2,077 9,250 2,493 2,324 2,244 2,189 1,932 654 567 337 374 2,231 733 530 467 501 2,531 603 572 679 677 2,674 696 656 649 673 4,463 1,257 1,139 1,016 1,051 4,905 1,429 1,186 1,116 1,174 4,067 1,034 1,089 918 1,026 4,345 1,064 1,138 1,128 1,015 61.8% 63.2% 65.9% 58.2% 59.9% 60.7% 59.5% 62.9% 62.2% 58.1% 47.7% 45.1% 48.9% 1,100 337 228 47.5% 254 49.4% 47.0% 42.7% 49.0% 50.3% 46.4% 281 1,320 360 288 390 282 1,381 458 450 216 257 1,566 483 437 351 295 245 114 138 (1) (6) 334 131 103 77 23 9,683 9,683 9,569 9,431 9,432 9,438 9,438 9,360 9,257 9,180 1.00% 1.19% 1.10% 0.77% 0.93% 1.11% 1.26% 1.20% 0.99% 0.99% Prepaid Gross additions Net (losses) additions Churn (monthly) Total prepaid subscribers 2. Blended ABPU (monthly). Blended ARPU (monthly) 550 127 163 119 141 773 168 235 199 171 (142) (40) 30 (66) (66) (97) (76) 27 8 (56) 1,260 1,260 1,300 1,270 1,336 1,402 1,402 1,478 1,451 1,570 4.38% 4.31% 3.46% 4.73% 4.98% 4.86% 5.58% 4.74% 4.43% 4.69% $63.24 $62.82 $63.55 $61.57 $65.14 $66.23 $66.17 $67.20 $67.16 $64.62 $50.75 $50.02 $51.12 $49.09 $52.85 $55.49 $55.26 $56.01 $56.73 $54.13 1 Subscriber counts, subscriber churn, blended ABPU, and blended ARPU are key performance indicators. See "Key Performance Indicators". 2 As at end of period. 25#26Cable Rogers Communications Inc. Cable (unaudited) 2020 2019 (In millions of dollars, except margins) Annual Q4'20 Q3'20 Q2'20 Q1'20 Annual Q4'19 Q3'19 Q2'19 Q1'19 Revenue Service revenue Equipment revenue Revenue Operating expenses Adjusted EBITDA Adjusted EBITDA margin Capital expenditures Subscriber Results 1 (In thousands, except ARPA and penetration) Internet Net additions Total Internet subscribers 2.3.4. Ignite TV Net additions Total Ignite TV subscribers 3,936 10 1,016 985 964 971 3,940 984 989 993 974 3 3 2 2 14 3 5 4 2 3,946 1,019 988 966 973 3,954 987 994 997 976 2,011 499 480 512 520 2.035 490 495 519 531 1,935 520 508 454 453 1,919 497 499 478 445 49.0% 51.0% 51.4% 47.0% 46.6% 48.5% 940 227 217 245 251 1,153 50.4% 289 50.2% 290 47.9% 285 45.6% 289 57 2,598 19 2,598 16 2,574 5 2,556 17 2,551 104 2,534 27 2,534 41 2,507 22 2,466 14 2,444 218 71 38 18 91 284 544 544 473 435 417 326 3286 106 65 66 47 220 155 89 Homes passed² 4,578 4,578 4,543 4,517 4,500 4,472 4,472 4,434 4,412 4,381 Customer relationships Net additions (losses) Total customer relationships 2,3,4 12 2,530 11 2,530 6 2,513 ARPA (monthly) $130.70 $134.43 $131.25 (7) 2,505 $128.12 2 2,512 $128.91 21 2,510 $131.71 8 2,510 $130.86 14 2,502 $132.22 2,488 $133.24 (1) 2,488 $130.51 Penetration 2 55.3% 55.3% 55.3% 55.5% 55.8% 56.1% 56.1% 56.4% 56.4% 56.8% 1 Subscriber counts, ARPA, and penetration are key performance indicators. See "Key Performance Indicators". 2 As at end of period. 26 On September 30, 2020, we acquired approximately 2,000 Internet subscribers and customer relationships as a result of our acquisition of Ruralwave Inc., which are not included in net additions, but do appear in the ending total balance for December 31, 2020. On October 1, 2020, we acquired approximately 5,000 Internet subscribers and 6,000 customer relationships as a result of our acquisition of Cable Cable Inc., which are not included in net additions, but do appear in the ending total balance for December 31. 2020.#27Media Rogers Communications Inc. Media (unaudited) 2020 2019 (In millions of dollars, except margins) Annual Q4'20 Q3'20 Q2'20 Q1'20 Annual Q4'19 Q3'19 Q2'19 Q1'19 1,606 409 489 296 412 2,072 530 483 591 468 1,555 327 400 331 497 1,932 508 353 519 552 51 82 22 Revenue Operating expenses Adjusted EBITDA Adjusted EBITDA margin 3.2% Capital expenditures 79 27 89 (35) (85) 140 22 130 72 (84) 18 (11.8%) 13 (20.6%) 12 6.8% 4.2% 102 46 26.9% 17 12.2% 17 (17.9%) 22 20.0% 36 3 18.2%#2828| The best is yet to come. Ted Rogers