Atn International, Inc. · NASDAQ:ATNI
Atn International — Midwest IDEAS Conference 2026
32 slides from Atn International's conference presentation, Aug 27, 2026
Slide 1: Midwest IDEAS Conference Investor Presentation
Midwest IDEAS Conference Investor Presentation Nasdaq: ATNI August 27, 2026
Slide 2: ATN International Management Team
ATN International Management Team Experienced telecom operators with proven execution across network growth, operational scale, and financial performance 35+ years of global telecom & technology leadership across multiple international markets Naji Khoury Chief Executive Officer Proven operator
Slide 3: ATN International At A Glance
ATN International At A Glance A telecommunications and digital infrastructure provider serving rural and underserved markets Headquarters: Founded: Employees: NASDAQ: Beverly, MA 1987 ~2,100 ATNI Equity Snapshot US. Segment International Segment (as of August 21, 2026) Share Price: Enterprise Value:
Slide 4: Operating Segments – International and US Telecom
Operating Segments – International and US Telecom Operations across Bermuda, the Cayman Islands, the U.S. Virgin Islands, Guyana, and select rural U.S. markets (primarily Alaska, New Mexico, and the Four Corners region) Total Revenue by Segment Total Revenue by Customer FY25 Financial and Adjusted E
Slide 5: ATN International – 2Q26 At A Glance
ATN International – 2Q26 At A Glance Delivered growth in revenue, operating income and Adj. EBITDA1, with profitability outpacing sales growth; reflecting improving operating leverage Both segments delivered positive Completed initial closing on US Tower revenue and Adjusted EBITDA1 Portfolio sale;
Slide 6: International Telecom
ATN international International Telecom
Slide 7: International Telecom Key Metrics: 2Q26
International Telecom Key Metrics: 2Q26 Established incumbency in residential fixed and mobile with opportunity to expand business share 273k 323k High-Speed Data Pre-Paid Subscribers Broadband Homes Passed -1% YoY = 70% +6% YoY Consumer Revenue 135k 64k High-Speed Data Post-Paid Subscribers Custome
Slide 8: International Telecom: Consistent Revenue and Profitability
International Telecom: Consistent Revenue and Profitability Opportunity to simplification of operations and expand margins Revenue Adj. EBITDA1 & Margin Stable Revenue from fixed business, ancillary services and mobility $95 $97 $96 $96 100,000 $95 $100,000 Other 90,000 $90,000 Carrier Offset headwi
Slide 9: International Telecom Revenue by Service
International Telecom Revenue by Service Consistent revenue streams with opportunity for growth Revenue by Product and Revenue by Customer Adjusted EBITDA1 Margin $450 32.2% 31.4% 31.3% 33.7% 34.5% $450 $400 $377 $382 $400 $377 $382 $371 $371 $343 $356 $343 $356 $350 $350 Carrier & Other Business $3
Slide 10: Why Our International Markets Are Attractive
Why Our International Markets Are Attractive Guyana Cayman Island1 Incumbent fiber and mobile provider $123 $126 $120 $114 $120 $120 $108 $100 $100 Strong market structure supports localized duopoly-like economics $80 $80 $60 $60 $43 $45 $40 $40 $36 $38 $41 High infrastructure investment $20 $20 det
Slide 11: US Telecom
ATN international US Telecom
Slide 12: US Telecom Key Metrics: 2Q26
US Telecom Key Metrics: 2Q26 Established position with businesses and carriers with opportunity to expand residential share 251k 74% High-Speed Data Homes Passed Business + Carrier Revenue +44% YoY = = 6k $150 million BEAD funding opportunity High-Speed Data Fixed Subscribers in our Alaska and -1% Y
Slide 13: US Telecom: Established Carrier, Government and Business Relationships
US Telecom: Established Carrier, Government and Business Relationships Leveraging government funding to further expand our footprint Revenue Adj. EBITDA1 & Margin Revenue growth from 100,000 carrier and fixed business $86 $88 $87 $86 $88 90,000 $100,000 Other Offset headwinds 80,000 $90,000 created
Slide 14: Why Our U.S. Markets Are Attractive
Why Our U.S. Markets Are Attractive Established carrier, government, and business relationships Revenue by Product and Revenue by Customer Government broadband subsidies Adjusted EBITDA1 Margin reduce effective capital intensity risk 18.6% 23.1% 25.5% 22.7% 22.7% Carrier of Carriers with strong $450
Slide 15: Q2-26 Financial Review, Portfolio and Capital
Q2-26 Financial Review, Portfolio and Capital
Slide 16: ATN International – 2Q26 Financial Review
ATN International – 2Q26 Financial Review Sustained momentum across key financial metrics Total Revenue: Operating Income: Total Adj. EBITDA1: Total Adj. EBITDA1: Margin: $184.5M $240M $49.7M 27.0% +2.0% YoY Includes $230M Gain from Initial +8.6% YoY +170 bps YoY Tower Sale Close Segment Snapshot In
Slide 17: Strong Liquidity Profile Provides Financial Flexibility
Strong Liquidity Profile Provides Financial Flexibility Augu st Well-capitalized and committed to managing debt levels and expanding operating cash flow 2026 $268M in initial cash proceeds from US tower portfolio sale received in early June 350000 $332 Cash, cash equivalents Net Debt Leverage Ratio
Slide 18: Capital Expenditures
Capital Expenditures Our Approach Continuing to focus on monetizing upgraded network assets Return to normalized investment spending levels (~10% to 15% of revenue) ATN Funded CapEx - % of Total Revenues Leveraging available 22% 21% 15% 12% 10% government funding to $250 maximize network investments
Slide 19: Capital Returned to Stockholders (2022 – 2Q26)
Capital Returned to Stockholders (2022 – 2Q26) Maintaining an uninterrupted quarterly dividend since 1999; Recent dividend increase of 5.5% Share Buybacks and Cash Dividends Demonstrating a strong 30,000 $28 commitment to shareholder returns, by distributing $63M $25 25,000 in common dividends since
Slide 20: 2026 Outlook and Key Takeaways
2026 Outlook and Key Takeaways As of August 5, 2026 International: Continue to increase high-value-add and durable subscribers, convert business opportunities leveraging expanded & upgraded network, localized operations & trusted relationships $183M - $193M Domestic: Focus efforts on growing busines
Slide 21: Investment Thesis – “Why ATN, Why Now?”
Investment Thesis – “Why ATN, Why Now?” Positioned for Long-Term Value Creation Through Recurring Revenue, Operational Discipline and Improving Free Cash Flow Key Investment Highlights: Experienced management team Embedded Asset Value Validated by proven in building, scaling, and monetizing Tower Sa
Slide 22: Questions?
Zot ATN ; international . Questions?
Slide 23: Thank you
We digitally empower people and communities to connect with the world and prosper. Thank you ir.atni.com
Slide 24: Appendix
Appendix ATN International | © 2026. All rights reserved. August 2026 24
Slide 25: Unlocking Inherent Value in Asset Portfolio: U.S. Tower Portfolio Sale
Unlocking Inherent Value in Asset Portfolio: U.S. Tower Portfolio Sale Proceeds from sale enhances liquidity and financial flexibility 214 $298M $268M Towers Under Agreement Negotiated Purchase Price Gross Cash Proceeds at Initial Close = $12M 25x Up to $30M Annualized Adj. EBITDA1 Impact Implied Ca
Slide 26: Reconciliation of Non-GAAP Measures – Six months ended June 30, 2026
ATN International, Inc. Reconciliation of Non-GAAP Measures (in thousands) – For the six months ended June 30, 2026 For the six months ended June 30, 2026 is as follows: International Corporate and Telecom US Telecom Other * Total Operating income (loss) $ 41,139 $ 225,929 $ (15,648) $ 251,420 Depre
Slide 27: Reconciliation of Non-GAAP Measures – Year ended December 31, 2025
ATN International, Inc. Reconciliation of Non-GAAP Measures (in thousands) – For the year ended December 31, 2025 For the year ended December 31, 2025 is as follows: International Corporate and Telecom US Telecom Other * Total Operating income (loss) $ 66,973 $ (1,715) $ (36,824) $ 28,434 Depreciati
Slide 28: Reconciliation of Non-GAAP Measures – Year ended December 31, 2024
ATN International, Inc. Reconciliation of Non-GAAP Measures (in thousands) – For the year ended December 31, 2024 For the year ended December 31, 2024 is as follows: International Corporate and Telecom US Telecom Other * Total Operating income (loss) $ 75,773 $ (44,443) $ (32,125) (795) Depreciation
Slide 29: Reconciliation of Non-GAAP Measures – Year ended December 31, 2023
ATN International, Inc. Reconciliation of Non-GAAP Measures (in thousands) – For the year ended December 31, 2023 For the year ended December 31, 2023 is as follows: International Corporate and Telecom US Telecom Other * Total Operating income (loss) $ 53,420 $ (5,522) $ (34,723) $ 13,175 Depreciati
Slide 30: Reconciliation of Non-GAAP Measures – Year ended December 31, 2022
ATN International, Inc. Reconciliation of Non-GAAP Measures (in thousands) – For the year ended December 31, 2021 For the year ended December 31, 2022 is as follows: International Corporate and Telecom US Telecom Other * Total Operating income (loss) $ 52,012 $ (5,656) $ (38,414) 7,942 Depreciation
Slide 31: Reconciliation of Non-GAAP Measures – Year ended December 31, 2021
ATN International, Inc. Reconciliation of Non-GAAP Measures (in thousands) – For the year ended December 31, 2021 For the year ended December 31, 2021 is as follows: International Corporate and Telecom US Telecom Other * Total Operating income (loss) $ 33,899 $ (14,016) $ (34,908) $ (15,025) Depreci
Slide 32: Non-GAAP Measures – Net Debt Ratio
ATN International, Inc. Non-GAAP Measures – Net Debt Ratio (in thousands) June 30, March 31, December 31, 2026 2026 2025 2024 2023 2022 Current portion of long-term debt * $ 23,721 $ 21,623 $ 15,846 $ 8,226 $ 24,290 $ 6,172 Long-term debt, net of current portion * 489,592 548,537 549,321 549,130 492