Investor Presentaiton

5 Non-audited financial information and non-IFRS measures None of the financial information in this presentation has been audited. Financial information related to the Ohio Cluster is based on accounting principles generally accepted in the United States ("U.S. GAAP") which differs from International Accounting Standards ("IFRS") used to prepare Cogeco's consolidated financial statements. Cogeco did not provide any reconciliation from U.S. GAAP to IFRS for the expected financial results of the Ohio Cluster, but expects financial impact to be minimal based upon differences identified in previous U.S. acquisitions. Cogeco has not provided a quantitative reconciliation of the non U.S. GAAP financial measures included in this presentation to the most comparable financial measures presented in accordance with IFRS due to the forward looking nature of the financial information being presented. The following non-IFRS financial measures are used in the presentation and are described in section 12 of Cogeco Communications' Q2 2021 report Adjusted EBITDA Adjusted EBITDA margin Free cash flow Capital ("CAPEX") intensity profit for the period and/or year add income taxes financial expense depreciation and amortization integration, restructuring and acquisition costs adjusted EBITDA as a % of revenue adjusted EBITDA add amortization of deferred transaction costs and discounts on long-term debt share-based payment loss (gain) on disposals and write-offs of property, plant and equipment defined benefit plans expense, net of contributions deduct integration, restructuring and acquisition costs financial expense(1) current income taxes capital expenditures (2) or acquisition of property, plant and equipment repayment of lease liabilities capital expenditures (2) or acquisition of property, plant and equipment as a % of revenue (1) Excludes the $22.9 million non-cash gain on debt modification related to the repricing of Atlantic Broadband's Term Loan B recognized in the second quarter of FY2020. (2) Acquisition of property, plant and equipment, excludes purchases of spectrum licenses and non-cash acquisition of right-of-use-assets. (C) COGECO COMMUNICATIONS ATLANTIC broadband a Cogeco company

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