Liberty Latin America Ltd. · NASDAQ:LILA
Liberty Latin America — Q4 2025 Earnings Presentation
31 slides from Liberty Latin America's earnings presentation, February 2026
Slide 1: Liberty Latin America Overview February 2026
FEBRUARY 2026 Part of Liberty Latin America 1
Slide 2: Forward-Looking Statements & Disclaimer
LLA PURPLE “SAFE SLIDES – HR USE 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 abi
Slide 3: About Us
LLA PURPLE SLIDES – HR USE ABOUT US LIBERTY LATIN AMERICA | FEBRUARY 2026 3
Slide 4: Liberty Latin America: Connecting Communities, Changing Lives
LIBERTY LATIN AMERICA OUR PURPOSE Connecting Communities. Changing Lives.
Slide 5: Investment Highlights
LLA PURPLE SLIDES INVESTMENT – HR USE HIGHLIGHTS (1) ATTRACTIVE GROWTH OPPORTUNITY UNDERPINNED BY LEADING ASSETS END-TO-END COMMUNICATIONS PLATFORM leveraging the power of a market-leading sub-sea network, 6.8 3.8 MILLION MILLION fixed-line networks & mobile platforms MOBILE FIXED SUBs RGUs ATTRACTI
Slide 6: Operations Across LatAm & the Caribbean
LLA LLAPURPLE SLIDESACROSS OPERATIONS – HR USELATAM & THE CARIBBEAN (1) SUBSTANTIAL DIVERSIFICATION ACROSS BUSINESSES & GEOGRAPHIES PUERTO RICO COSTA RICA REVENUE $1.5 $0.8 $0.5 $1.2 $0.6 $4.4 BILLION BILLION BILLION BILLION BILLION BILLION ADJUSTED $0.7 $0.3 $0.3 $0.4 $0.2 $1.7 OIBDA BILLION BILLIO
Slide 7: Market Position Across Consumer Markets
LLA PURPLE LATAM SLIDES – HR & CARIBBEAN USE MARKET FULL-SERVICE PROVIDER ACROSS NEARLY ALL OUR CONSUMER MARKETS (1) (2) OUR BRAND FIXED PRODUCTS MOBILE LARGEST OR COMPETITORS (1) Other mobile operators in the markets include: ATN International operating under the brand Logic in Cayman Islands, CCT
Slide 8: Fixed RGUs & Mobile Subscribers
LLA PURPLE FIXED RGUsSLIDES – HR SUBSCRIBERS & MOBILE USE (1) REPORTING SEGMENT VIEW PUERTO RICO COSTA RICA 45% 39% 50% 47% 1.5M 0.7M 1.0M 18% 0.6M FIXED 36% FIXED 29% FIXED FIXED 35% RGUs RGUs RGUs RGUs 20% 25% 35% 22% BROADBAND VIDEO TELEPHONY 79% 77% 46% 23% 1.9M 2.0M 0.7M 2.2M MOBILE MOBILE MOBI
Slide 9: Revenue Overview
LLA PURPLEOVERVIEW REVENUE SLIDES – HR USE (1) DIVERSIFIED BY GEOGRAPHY & PRODUCT REVENUE BY GEOGRAPHY REVENUE BY PRODUCT 4% BAHAMAS JAMAICA 9% FIXED 29% 21% OTHER 32% B2B NETWORKS & LATAM 9% $4.4 COSTA 14% RICA $4.4 BILLION BILLION PANAMA 18% 1% OTHER 25% PUERTO MOBILE 39% RICO (1) Revenue totals a
Slide 10: Revenue by Product
LLA PURPLEBY REVENUE SLIDES – HR USE PRODUCT (1) REPORTING SEGMENT VIEW PUERTO RICO 16% 41% 35% 45% 31% $1.5 $0.7 $1.2 BILLION BILLION BILLION COSTA RICA 42% 39% 15% 35% 2% 27% 71% $0.5 $0.6 BILLION BILLION 62% 11% 29% RESIDENTIAL FIXED RESIDENTIAL MOBILE B2B SERVICE WHOLESALE OTHER (1) Revenue tota
Slide 11: Leading Infrastructure & Networks
LLA PURPLE SLIDES –| HR INFRASTRUCTURE USE NETWORKS(1) LEADING COMPETITIVE EDGE THROUGH SUPERIOR SUBSEA, FIXED & MOBILE ASSETS SUBSEA & TERRESTRIAL NETWORK FIXED FOOTPRINT & MOBILE TECHNOLOGY BY MARKET HOMES PASSED | THOUSANDS FTTH HFC OTHER GIGABIT-READY UNIQUE, CRITICAL INFRASTRUCTURE WITH ~60,000
Slide 12: Board of Directors & Management Team
LLA OURPURPLE BOARD SLIDES – HR USE & MANAGEMENT TEAM OF DIRECTORS INDUSTRY LEADERS BOARD OF DIRECTORS MANAGEMENT TEAM JOHN MIKE BALAN ALFONSO CHARLIE BALAN CHRIS JOHN KERRY AAMIR MALONE FRIES NAIR DE ANGOITIA BRACKEN NAIR NOYES WINTER SCOTT HUSSAIN NORIEGA DIRECTOR EXECUTIVE CHIEF EXECUTIVE CHIEF F
Slide 13: Q4 2025 Review
LLA PURPLE SLIDES – HR USE Q4 2025 REVIEW LIBERTY LATIN AMERICA | FEBRUARY 2026 13
Slide 14: Key Messages
LLA PURPLE LIBERTY SLIDES LATIN – HR USE 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 $
Slide 15: Group Revenue and Adjusted OIBDA
LLA PURPLE GROUP SLIDES & REVENUE – HR USE 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 im
Slide 16: Financial Segment Results: C&W Credit Silo
LLA PURPLEFINANCIAL SEGMENT SLIDES – HR USE 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 REVEN
Slide 17: Financial Segment Results: LCR & LPR Credit Silos
LLA PURPLEFINANCIAL SEGMENT SLIDES – HR USE 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 REVENU
Slide 18: Cash Flow Performance
LLA PURPLE GROUP SLIDES CASH FLOW– HR USE 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%
Slide 19: Balance Sheet & Liquidity Position
LLA PURPLESHEET BALANCE SLIDES&–LIQUIDITY HR USE 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
Slide 20: Conclusions: Positive Outlook for 2026
LLA PURPLE SLIDES CONCLUSIONS (1) – HR USE 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 Exe
Slide 21: Agenda | Appendix
LLA PURPLE SLIDES – HR USE AGENDA 01 | EXECUTIVE SUMMARY 02 | FINANCIAL RESULTS 03 | APPENDIX
Slide 22: Definitions & Additional Information
LLA PURPLE SLIDES DEFINITIONS – HR USE INFORMATION & ADDITIONAL 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,
Slide 23: Information on Rebased Growth
LLA PURPLE SLIDES INFORMATION – HR USE GROWTH ON REBASED 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 businesse
Slide 24: Information on Rebased Growth (Cont.)
LLA PURPLE SLIDES INFORMATION – HR USE GROWTH (CONT.) ON REBASED 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 b
Slide 25: Information on Rebased Growth (Cont.)
LLA PURPLE SLIDES INFORMATION – HR USE GROWTH (CONT.) ON REBASED 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 b
Slide 26: Information on Rebased Growth (Cont.)
LLA PURPLE SLIDES INFORMATION – HR USE GROWTH (CONT.) ON REBASED 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 b
Slide 27: Adjusted OIBDA Definition & Reconciliation
LLA PURPLE SLIDES ADJUSTED – HR USE 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
Slide 28: Adjusted OIBDA Definition & Reconciliation
LLA PURPLE SLIDES ADJUSTED – HR USE 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
Slide 29: Consolidated Leverage Ratio Definition & Reconciliation
LLA PURPLE SLIDES CONSOLIDATED – HR USE RATIO DEFINITION & RECONCILIATION LEVERAGE 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
Slide 30: Adjusted Free Cash Flow Definition & Reconciliation
LLA PURPLE SLIDES ADJUSTED – HR USE 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 acti
Slide 31: Country Flag Directory
LLA PURPLE FLAG SLIDES – HR USE DIRECTORY Country Flags Country Flag Country Flag Country Flag Country Flag Country Flag St. Vincent & the Anguilla Cayman Islands Jamaica St. Eustatius Grenadines Antigua & Barbuda Costa Rica Montserrat St. Kitts & Nevis The Bahamas Barbados Curaçao Panama St. Lucia
Liberty Latin America — Q4 2025 Earnings Presentation on 6ix