Cyxtera SPAC Presentation Deck
V
Highly attractive business model
1
2
3
4
Predictable top-line
Robust operating
leverage
Success-based capital
deployment
Significant upside
potential
More than 90% of the revenue is recurring
Long-term customer relationships - average contract tenure of 13.4 years for top 20 customers(¹)
• Robust network effects drive customer stickiness and reduce churn (avg. monthly 0.8% MRR(2))
Cyxtera
70% of cost structure is fixed
Higher utilization driving strong EBITDA flow through and margin expansion
More than 70%(3) of capex is success based on expansion, installation and enhancements
Small portion of capex considered maintenance (~3% of revenue) to maintain asset base
• Ability to organically grow EBITDA at above industry average levels within existing footprint
New markets and inorganic growth provide meaningful upside potential
(1) Excludes Lumen (f.k.a CenturyLink); (2) Based on average quarterly churn over LTM as of 12/31/20
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