Cyxtera SPAC Presentation Deck

Pro Forma Capitalization ($ in Millions) Cash and Cash Equivalents Revolver (Maturing 11/2023) 1st Lien Debt (Maturing 5/2024) 2nd Lien Debt (Maturing 5/2025) Capital Leases Total Debt Net Debt (¹) Less: Optional renewal portion of Capital Leases Contractual Net Debt (Excl. Optional Capital Leases) Less: Contractually obligated Capital Leases Less: Equipment Leases Financial Net Debt (Excl. All Capital Leases) Key Credit Metrics 2020A Adj. EBITDA / First Lien Net Leverage 2020A Adj. EBITDA / Net Leverage (4) 2020A Adj. EBITDA/ Contractual Net Leverage (5) (6) (4) 2020A Adj. EBITDAR/Lease Adjusted Leverage 2020A Adj. EBITDA/Financial Net Leverage (7) Total Liquidity Cyxtera Rate L + 300 bps L + 300 bps L + 725 bps Metric $216 216 216 288 216 (2) Reported 12/31/2020 $121 143 885(3) 310 989 $2,327 2,206 (149) 2,057 (779) (61) 1,217 4.2X (3) 10.2 9.5 7.4 5.6 $122 Pro Forma Adjustments $152 (143) (310) 1 ($453) Pro Forma 12/31/2020 $272 885 989 $1,874 1,602 (149) 1,453 (779) (61) 613 2.8x 7.4 6.7 5.3 2.8 _(8) $395 (1) Net Debt is equal to total debt minus cash and cash equivalents; First Lien Net Leverage includes the Revolver and First Lien Term Loan only; (2) Incremental $100m First Lien Term Loan Interest rate of L + 400 bps; (3) Debt balances are based on GAAP reporting and are shown gross of unamortized issuance costs; (4) Net leverage is calculated by dividing net debt by 2020A Adj. EBITDA; (5) Contractual Net Leverage is calculated by dividing Contractual Net Debt (which includes the GAAP calculation of Capital Lease obligations, adjusted to exclude obligations attributable to the term of any future lease extension option exercisable at the Company's discretion) by 2020A Adj. EBITDA; (6) Lease Adjusted Leverage calculated as financial net debt and secured capital leases + 5x real estate lease payments (5x methodology based on Moody's Communications Infrastructure sector lease capitalization multiple); (7) Financial Net Leverage is calculated by dividing Financial Net Debt (Net Debt, adjusted to exclude all Capital Lease obligations) by 2020A Adj. EBITDA; (8) Excludes the impact of recent Revolver amendment, completed in May 2021, which reduced total Revolver capacity by -$21MM. 46

View entire presentation