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ABB's Growth Strategy for MetroCast

NON-AUDITED FINANCIAL INFORMATION AND NON-IFRS MEASURES None of the financial information in this presentation has been audited. Financial information related to MetroCast 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 MetroCast, but expects financial impact to be minimal based upon differences identified in previous U.S. acquisitions. Cogeco's estimation of the expected financial results of the business being acquired for the year ending December 31, 2017 is based on financial information that was prepared by the current management of Harron Communications (the parent of MetroCast). 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 / NON-U.S. GAAP MEASURES ARE USED IN THE PRESENTATION AND A RECONCILIATION TO THE MOST COMPARABLE IFRS FINANCIAL MEASURES IS DESCRIBED ON PAGE 59 OF THE COGECO'S 2016 ANNUAL REPORT Free cash flow Capital expenditures ("CAPEX") Capital intensity Adjusted EBITDA Operating margin cash flow from operating activities add amortization of deferred transaction costs and discounts on long-term debt changes in non-cash operating activities income taxes paid financial expense paid deduct current income taxes financial expense capital expenditures acquisitions of property, plant, equipment, intangibles and other assets, including assets acquired under capital leases capital expenditures as a % of revenue profit (loss) for the year add income taxes financial expense impairment of goodwill and intangible assets depreciation and amortization claims and litigations integration, restructuring and acquisition costs adjusted EBITDA as a % of revenue ATLANTIC (C>>> COGECO broadband a Cogeco company 4 COMMUNICATIONS

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