Investor Presentaiton

Appendix: Non-GAAP Financial Measures To supplement its consolidated financial statements, which are prepared and presented in accordance with U.S general accepted accounting principles ("GAAP"), WOW! reports certain non-GAAP financial measures, including Adjusted EBITDA and Free Cash Flow. Adjusted EBITDA is defined as net income (loss) before net interest expense, income taxes, depreciation and amortization (including impairments), impairment losses on intangibles and goodwill, gains (losses) realized and unrealized gain on derivative instruments, the write off of any asset, loss on early extinguishment of debt, integration and restructuring expenses and all non-cash charges and expenses (including equity based compensation expense) and certain other income and expenses. Free Cash Flow is defined as net cash provided by operating activities less capital expenditures. We believe the use of these metrics provide useful information about our operating results and enhance the overall understanding of our financial performance. Non-GAAP should not be considered as an alternative to any measures derived in accordance with US GAAP. We believe the non-GAAP measures included in this presentation enhance an investor's understanding of our financial performance. We believe that these non-GAAP measures are useful financial metrics to assess our operating performance from period to period by excluding certain items that we believe are not representative of our core business. We believe that these non-GAAP measures provide investors with useful information for assessing the comparability between periods of our ability to generate cash from operations sufficient to pay taxes, to service debt and to undertake Capital Expenditures. We use these non-GAAP measures for business planning purposes and in measuring our performance relative to that of our competitors. We believe these non-GAAP measures are measures commonly used by investors to evaluate our performance and that of our competitors. 12

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