Liberty Latin America Ltd. · NASDAQ:LILA
Liberty Latin America — Q4 2025 Earnings Presentation
31 slides from Liberty Latin America's earnings presentation, Feb 19, 2026
Slide 1: Liberty Latin America FY 2025 Investor Call
LIBERTY LATIN AMERICA FY 2025 INVESTOR CALL February 19, 2026 Part of Liberty Latin America
Slide 2: Safe Harbor
“SAFE HARBOR” FORWARD-LOOKING STATEMENT | DEFINED TERMS FORWARD-LOOKING STATEMENTS & DISCLAIMER future financial performance, or market conditions generally, on the availability, terms and deployment of capital; fluctuations in currency exchange and interest rates; the ability of suppliers and vendo
Slide 3: Agenda
AGENDA 01 | EXECUTIVE SUMMARY 02 | FINANCIAL RESULTS 03 | APPENDIX
Slide 4: Liberty Latin America | Key Messages
LIBERTY LATIN AMERICA | KEY MESSAGES(1) STRONG 2025 PERFORMANCE; PROGRESS IN JAMAICA POST HURRICANE MELISSA 1 2 3 4 +226K +9% +27% RECOVERING IN FY 2025 FY 2025 FY 2025 JAMAICA POSTPAID ADJUSTED OIBDA ADJ. OIBDA LESS ADDS GROWTH P&E ADDS GROWTH(2) Record year for Liberty $1.7bn FY 2025 14% FY 2025 P
Slide 5: C&W Credit Silo
C&W CREDIT SILO LIBERTY LATIN AMERICA | Q3 2019 INVESTOR CALL | NOVEMBER 6, 2019
Slide 6: Liberty Caribbean | Hurricane Dents Headline Growth
LIBERTY CARIBBEAN | HURRICANE DENTS HEADLINE GROWTH(1) STRONG MOBILE MOMENTUM MOBILE POSTPAID SUBSCRIBER EVOLUTION REVENUE BY PRODUCT 2026 KEY PRIORITIES MOBILE POSTPAID NET ORGANIC ADDITIONS (LOSSES) | IN THOUSANDS FY 2025 FIXED MOBILE B2B YoY ADDs +55 • Rebuild Jamaica stronger • Drive further reg
Slide 7: Liberty Caribbean | Recovery Underway Post-Melissa
LIBERTY CARIBBEAN | RECOVERY UNDERWAY POST-MELISSA(1) REBUILDING & STRENGTHENING OUR POSITION IN JAMAICA MOBILE NETWORK FIXED NETWORK • Worked with tower partners for rapid site restoration after ZONE 1 ZONE 2 ZONE 3 hurricane • Represents >50% • ~30% of pre- • Most impacted by of pre-Melissa Meliss
Slide 8: C&W Panama | Mobile Driving FY Top-Line; Strong B2B in Q4
C&W PANAMA | MOBILE DRIVING FY TOP-LINE; STRONG B2B IN Q4(1) ROBUST RESIDENTIAL KPI TRENDS MOBILE POSTPAID SUBSCRIBER EVOLUTION REVENUE BY PRODUCT 2026 KEY PRIORITIES MOBILE POSTPAID NET ORGANIC ADDITIONS (LOSSES) | IN THOUSANDS FY 2025 FIXED MOBILE B2B YoY ADDs +35 • Build on significant B2B/B2G pr
Slide 9: Liberty Networks | Project Wins Supporting Revenue
LIBERTY NETWORKS | PROJECT WINS SUPPORTING REVENUE(1) SOLID UNDERLYING WHOLESALE & ENTERPRISE GROWTH REVENUE EVOLUTION NEW EL SALVADOR SUBSEA CABLE LIBERTY NETWORKS ONGOING PROJECTS(2) IN USD MILLIONS ENTERPRISE WHOLESALE EXCL. IRUs IRUs • Selected to design, construct, deploy & 471 operate El Salva
Slide 10: LCR Credit Silo
LCR CREDIT SILO LIBERTY LATIN AMERICA | Q3 2019 INVESTOR CALL | NOVEMBER 6, 2019
Slide 11: Liberty Costa Rica | Strong Year for Postpaid
LIBERTY COSTA RICA | STRONG YEAR FOR POSTPAID(1) FOCUS ON COST OPPORTUNITIES FOR 2026 MOBILE POSTPAID SUBSCRIBER EVOLUTION(2) REVENUE BY PRODUCT 2026 KEY PRIORITIES MOBILE POSTPAID NET ORGANIC ADDITIONS (LOSSES) | IN THOUSANDS FY 2025 FIXED MOBILE B2B YoY ADDs +161 • Continue prepaid-to-postpaid mig
Slide 12: LPR Credit Silo
LPR CREDIT SILO LIBERTY LATIN AMERICA | Q3 2019 INVESTOR CALL | NOVEMBER 6, 2019
Slide 13: Liberty Puerto Rico | Continued Mobile Improvement
LIBERTY PUERTO RICO | CONTINUED MOBILE IMPROVEMENT(1) RETURN TO POSTPAID NET ADDITIONS IN Q4 MOBILE POSTPAID SUBSCRIBER EVOLUTION REVENUE BY PRODUCT 2026 KEY PRIORITIES MOBILE POSTPAID NET ORGANIC ADDITIONS (LOSSES) | IN THOUSANDS FY 2025 FIXED MOBILE B2B OTHER YoY ADDs (25) • Maintain positive tren
Slide 14: Strategic Vision | 2026 Core Priorities
STRATEGIC VISION | 2026 CORE PRIORITIES(1) TARGETED INVESTMENTS & EFFICIENCIES TO DRIVE BOTTOM LINE FMC PRODUCT B2B ADOPTION INNOVATION COMMERCIAL SUBSEA 5G REBUILD CABLE INVESTMENTS JAMAICA EXPANSION OPERATIONAL COST CAPEX FOCUS ON EFFICIENCY DISCIPLINE CASH FLOW INITIATIVES FINANCIAL (1) See Appen
Slide 15: Agenda
AGENDA 01 | EXECUTIVE SUMMARY 02 | FINANCIAL RESULTS 03 | APPENDIX
Slide 16: Group Revenue & Adjusted OIBDA
GROUP REVENUE & ADJUSTED OIBDA(1) EFFICIENCY GAINS OFFSETTING REVENUE HEADWINDS & DRIVING ADJUSTED OIBDA GROWTH REVENUE ADJUSTED OIBDA IN USD MILLIONS GROWTH RATE IN USD MILLIONS GROWTH RATE • $20m of revenue • $27m of Adjusted +1% +8% REBASED impact in Q4 REBASED OIBDA impact in related to 36% 39%
Slide 17: Segment Financial Results | C&W Credit Silo
SEGMENT FINANCIAL RESULTS | C&W CREDIT SILO(1) LIBERTY CARIBBEAN IMPACTED BY MELISSA; STRONG PERFORMANCE IN CWP & LN Q4 2025 IN USD MILLIONS 43% 20% 41% 17% 58% 20% 46% 20% AS % OF AS % OF AS % OF AS % OF AS % OF AS % OF AS % OF AS % OF REVENUE REVENUE REVENUE REVENUE REVENUE REVENUE REVENUE REVENUE
Slide 18: Segment Financial Results | LCR & LPR Credit Silos
SEGMENT FINANCIAL RESULTS | LCR & LPR CREDIT SILOS(1) B2B OFFSETTING STRONG MOBILE PERFORMANCE IN LCR; LPR RECOVERY DRIVEN BY COST REDUCTION COSTA RICA PUERTO RICO Q4 2025 Q4 2025 IN USD MILLIONS 39% 18% IN USD MILLIONS 30% 16% AS % OF AS % OF AS % OF AS % OF REVENUE REVENUE REVENUE REVENUE 301 168
Slide 19: Group Cash Flow Performance
GROUP CASH FLOW PERFORMANCE(1) CAPITAL INTENSITY IN LINE WITH EXPECTATIONS ADJUSTED OIBDA LESS P&E ADDS ADJUSTED FCF IN USD MILLIONS GROWTH RATE IN USD MILLIONS GROWTH RATE BEFORE DISTRIBUTIONS TO PARTNERS DISTRIBUTIONS TO PARTNERS • $17m of Q4 P&E • Closing 2025 with +30% adds related to +42% stron
Slide 20: Balance Sheet & Liquidity Position
BALANCE SHEET & LIQUIDITY POSITION(1) STRONG CAPITAL STRUCTURES AT BOTH C&W & LCR; DISCUSSIONS ONGOING AT LPR COSTA RICA PUERTO RICO $8.4 $4.9 $0.5 $2.9 BILLION BILLION BILLION BILLION TOTAL DEBT TOTAL DEBT TOTAL DEBT TOTAL DEBT CASH TOTAL DEBT TOTAL DEBT TOTAL DEBT 4.3x 3.5x 1.8X 7.7x 14.0x REPORTE
Slide 21: Conclusions
CONCLUSIONS(1) POSITIVE OUTLOOK FOR 2026 BUILDING UP FROM STRONG 2025 RESULTS 1 2 3 4 SOLID JAMAICA 2026 EQUITY DELIVERY BUILDING BACK CORE VALUE IN 2025 STRONGER PRIORITIES UNLOCK +9% rebased Adjusted Build on quick recovery in Commercial momentum OIBDA growth mobile Execute on strategic Expansion
Slide 22: Agenda
AGENDA 01 | EXECUTIVE SUMMARY 02 | FINANCIAL RESULTS 03 | APPENDIX
Slide 23: Definitions & Additional Information
DEFINITIONS & ADDITIONAL INFORMATION ARPU Average revenue per unit refers to the average monthly subscription revenue (subscription revenue excludes MOBILE SUBSCRIBERS interconnect, mobile handset sales and late fees) per average customer relationship or mobile subscriber, as Our mobile subscriber c
Slide 24: Information on Rebased Growth
INFORMATION ON REBASED GROWTH Rebase growth rates are a non-GAAP measure. For purposes of calculating rebased growth rates on a acquisition periods. As we did not own or operate the acquired entities during the pre-acquisition periods, no comparable basis for all businesses that we owned during the
Slide 25: Information on Rebased Growth (Cont.)
INFORMATION ON REBASED GROWTH (CONT.) Rebase growth rates are a non-GAAP measure. For purposes of calculating rebased growth rates on a acquisition periods. As we did not own or operate the acquired entities during the pre-acquisition periods, no comparable basis for all businesses that we owned dur
Slide 26: Information on Rebased Growth (Cont.)
INFORMATION ON REBASED GROWTH (CONT.) Rebase growth rates are a non-GAAP measure. For purposes of calculating rebased growth rates on a acquisition periods. As we did not own or operate the acquired entities during the pre-acquisition periods, no comparable basis for all businesses that we owned dur
Slide 27: Information on Rebased Growth (Cont.)
INFORMATION ON REBASED GROWTH (CONT.) Rebase growth rates are a non-GAAP measure. For purposes of calculating rebased growth rates on a acquisition periods. As we did not own or operate the acquired entities during the pre-acquisition periods, no comparable basis for all businesses that we owned dur
Slide 28: Adjusted OIBDA Definition & Reconciliation
ADJUSTED OIBDA DEFINITION & RECONCILIATION(1) On a consolidated basis, Adjusted OIBDA is a non-U.S. GAAP measure. Adjusted OIBDA is the primary different countries in which we operate. We believe our Adjusted OIBDA measure is useful to investors because measure used by our CODM, our Chief Executive
Slide 29: Adjusted OIBDA Definition & Reconciliation
ADJUSTED OIBDA DEFINITION & RECONCILIATION(1) On a consolidated basis, Adjusted OIBDA is a non-U.S. GAAP measure. Adjusted OIBDA is the primary different countries in which we operate. We believe our Adjusted OIBDA measure is useful to investors because measure used by our CODM, our Chief Executive
Slide 30: Consolidated Leverage Ratio Definition & Reconciliation
CONSOLIDATED LEVERAGE RATIO DEFINITION & RECONCILIATION We have set forth below our consolidated leverage and net leverage ratios. Our consolidated leverage and net measured using swapped foreign currency rates. We believe our consolidated leverage and net leverage ratios leverage ratios (Consolidat
Slide 31: Adjusted Free Cash Flow Definition & Reconciliation
ADJUSTED FREE CASH FLOW DEFINITION & RECONCILIATION We define Adjusted Free Cash Flow (Adjusted FCF), a non-GAAP measure, as net cash provided by our because this measure can be used to gauge our ability to service debt and fund new investment opportunities. operating activities, plus (i) cash payme
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