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Investor Presentaiton

INFORMATION ON REBASED GROWTH Rebase growth rates are a non-GAAP measure. For purposes of calculating rebased growth rates on a comparable basis for all businesses that we owned during the current year, we have adjusted our historical revenue and Adjusted OIBDA to include or exclude the pre-acquisition amounts of acquired, disposed or transferred business, as applicable, to the same extent they are included or excluded from the current year. The businesses that were acquired, disposed or transferred impacting the comparative periods are as follows: Claro Panama, which was acquired on July 1, 2022; VTR, which was disposed of on October 6, 2022; and the January 2023 acquisition by our Liberty Costa Rica segment of the B2B Costa Rican operations within our C&W Networks & LatAm segment. In addition, we reflect the translation of our rebased amounts for the prior- year periods at the applicable average foreign currency exchange rates that were used to translate our results for the corresponding current-year periods. We have reflected the revenue and Adjusted OIBDA of acquired entities in our prior-year rebased amounts based on what we believe to be the most reliable information that is currently available to us (generally pre-acquisition financial statements), as adjusted for the estimated effects of (a) any significant differences between U.S. GAAP and local generally accepted accounting principles, (b) any significant effects of acquisition accounting adjustments, (c) any significant differences between our accounting policies and those of the acquired entities and (d) other items we deem appropriate. We do not adjust pre- LIBERTY LIBERTY LATIN AMERICA acquisition periods to eliminate nonrecurring items or to give retroactive effect to any changes in estimates that might be implemented during post-acquisition periods. As we did not own or operate the acquired entities during the pre-acquisition periods, no assurance can be given that we have identified all adjustments necessary to present their revenue and Adjusted OIBDA on a basis that is comparable to the corresponding post- acquisition amounts that are included in our historical results or that the pre-acquisition financial statements we have relied upon do not contain undetected errors. In addition, the rebased growth percentages are not necessarily indicative of the revenue and Adjusted OIBDA that would have occurred if these transactions had occurred on the dates assumed for purposes of calculating our rebased amounts or the revenue and Adjusted OIBDA that will occur in the future. The rebased growth percentages have been presented as a basis for assessing growth rates on a comparable basis and should be viewed as measures of operating performance that are a supplement to, and not a substitute for, U.S. GAAP reported growth rates. The following tables provide the aforementioned adjustments made to the revenue and Adjusted OIBDA amounts for the periods indicated, to derive our rebased growth rates. Due to rounding, certain rebased growth rate percentages may not recalculate. Revenue Adjusted OIBDA Three months ended March 31, 2022 Three months ended March 31, 2022 C&W Carib. C&W Panama C&W N&L LPR LCR VTR Corp. & Elim. Total C&W C&W Carib. Panama C&W N&L LPR LCR VTR Corp. Total Reported Acquisitions Disposition Foreign currency 1.3 Other (1) Rebased Reported % change (2) Rebased % change (3) (1) 354.8 127.2 107.6 366.7 107.4 170.8 in USD millions; except for percentages (18.3) 1,216.2 129.9 40.5 62.6 140.6 30.2 46.5 (13.8) 436.5 31.2 31.2 (3.0) (3.0) (170.8) (170.8) (46.5) (0.4) (46.9) (3.2) (1.6) 15.7 1.6 0.2 14.0 0.3 (0.8) 4.4 3.9 - - (0.8) 0.8 356.1 158.4 102.8 366.7 124.7 - - % 30% (1)% 4% 1% 6% % % 20% 4% N.M. (18.1) N.M. N.M. N.M. 1,090.6 (9%) 1% 130.2 37.5 61.0 140.6 35.4 (14.2) 390.5 8% 7% 2% (4%) 50% N.M. (48%) (7%) 8% 16% 4% (4%) 28% N.M. (44%) 4% Represents the January 2023 transfer of B2B operations in Costa Rica that was transferred from our C&W Networks & LatAm segment to our Liberty Costa Rica segment. (2) Reported percentage change is calculated as current period revenue less prior period revenue divided by prior period revenue. Reported percentage change is calculated as current period Adjusted OIBDA less prior period Adjusted OIBDA divided by prior period Adjusted OIBDA. (3) Rebased percentage change is calculated as current period revenue less rebased prior period revenue divided by prior period rebased revenue. Rebased percentage change is calculated as current period Adjusted OIBDA less rebased prior period Adjusted OIBDA divided by prior period rebased Adjusted OIBDA. LIBERTY LATIN AMERICA | MAY 2023 24 24
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