Investor Presentaiton
INFORMATION ON REBASED GROWTH (CONT.)
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 or disposed
business, as applicable, to the same extent they are included or excluded from the current year. The
businesses that were acquired or disposed impacting the comparative periods are as follows: (i) Telefónica
Costa Rica, which was acquired on August 9, 2021; (ii) Broadband VI, LLC, which was acquired effective
December 31, 2021; (iii) Claro Panama, which was acquired on July 1, 2022; and (iv) VTR, which was disposed
of on October 6, 2022. 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
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.
Reported
Foreign currency
Acquisition
Rebased
Reported % change (1)
Rebased % change (2)
Revenue by Product
Year ended December 31, 2021
C&W Caribbean
C&W Panama
Residential Fixed
Residential
Mobile
B2B
Residential Fixed
Residential
Mobile
Liberty Puerto Rico
B2B
Residential Fixed
Residential
Mobile
in USD millions; except for percentages
B2B
508.0
364.1
517.8
97.4
220.9
249.8
457.5
734.4
220.4
(2.3)
(1.7)
(3.2)
4.3
52.0
13.1
6.4
4.0
505.7
362.4
514.6
101.7
272.9
262.9
463.9
734.4
224.4
2%
5%
4%
13%
21%
6%
5%
(2%)
%
2%
6%
4%
8%
(2%)
1%
3%
(2%)
(2%)
(1) 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.
(2) 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 | FY 2022 INVESTOR CALL | FEBRUARY 23, 2023
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