Liberty Latin America Ltd. · NASDAQ:LILA
Liberty Latin America — Q1 2026 Earnings Presentation
25 slides from Liberty Latin America's earnings presentation, May 7, 2026
Slide 1: Liberty Latin America Q1 2026 Investor Call
LIBERTY LATIN AMERICA Q1 2026 INVESTOR CALL May 7, 2026 Part of Liberty Latin America
Slide 2: Safe Harbor: Forward-Looking Statements & Disclaimer
“SAFE HARBOR” FORWARD-LOOKING STATEMENT | DEFINED TERMS FORWARD-LOOKING STATEMENTS & DISCLAIMER operating targets; the outcome of any pending or threatened litigation; the ability of our operating companies to access cash of their respective subsidiaries; the impact of our operating companies' futur
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) MOBILE MOMENTUM & HURRICANE RECOVERY AHEAD OF EXPECTATIONS; CAPITAL STRUCTURE UPDATE 1 2 3 4 +50K $405M JAMAICA RECOVERY AHEAD OF CAPITAL STRUCTURE & Q1 2026 Q1 2026 EXPECTATIONS CASH RETURN POSTPAID NET ADDS ADJUSTED OIBDA Intention to distribute preferred sh
Slide 5: Liberty Caribbean: Continuous Progress in Jamaica
LIBERTY CARIBBEAN | CONTINUOUS PROGRESS IN JAMAICA(1) ONGOING GAINS IN POSTPAID; INTERNET NET ADDS POST MELISSA LOSSES MOBILE POSTPAID SUBSCRIBER EVOLUTION JAMAICA REVENUE RECOVERY JAMAICA OPERATIONAL UPDATE MOBILE POSTPAID NET ORGANIC ADDITIONS (LOSSES) | IN THOUSANDS IN USD MILLIONS YoY ADDs $(14)
Slide 6: C&W Panama: Sustained Mobile Growth
C&W PANAMA | SUSTAINED MOBILE GROWTH(1) RESIDENTIAL PERFORMANCE SUPPORTED BY SUCCESSFUL RETENTION EFFORTS & CONTINUED NET ADDITIONS MOBILE POSTPAID SUBSCRIBER EVOLUTION KEY MESSAGES MOBILE POSTPAID NET ORGANIC ADDITIONS (LOSSES) | IN THOUSANDS YoY ADDs • Postpaid mobile a strong driver, +43 reportin
Slide 7: Liberty Networks: Strong Top-Line Expansion
LIBERTY NETWORKS | STRONG TOP-LINE EXPANSION(1) RECURRING REVENUE UNDERPINNING WHOLESALE & ENTERPRISE GROWTH YoY REVENUE EVOLUTION LIBERTY NETWORKS ONGOING PROJECTS(2) KEY MESSAGES IN USD MILLIONS ENTERPRISE WHOLESALE • Core Wholesale business improving in 121 Q1 driven by underlying subsea lease 11
Slide 8: Liberty Costa Rica: Innovating in a Competitive Market
LIBERTY COSTA RICA | INNOVATING IN A COMPETITIVE MARKET(1) FOCUS ON COST OPTIMIZATION, 5G & COVERAGE EXPANSION THROUGH D2C MOBILE POSTPAID SUBSCRIBER EVOLUTION(2) KEY MESSAGES MOBILE POSTPAID NET ORGANIC ADDITIONS (LOSSES) | IN THOUSANDS YoY ADDs • Maintaining postpaid & fixed net +149 additions in
Slide 9: Liberty Puerto Rico: Turning the Corner
LIBERTY PUERTO RICO | TURNING THE CORNER(1) SUSTAINED POSTPAID NET ADDS; RETURN TO POSITIVE FIXED NET ADDS WITH IMPROVING TRENDS IN BROADBAND MOBILE POSTPAID SUBSCRIBER EVOLUTION MOBILE & FIXED NPS EVOLUTION PROGRESS BY PRODUCT CATEGORY MOBILE POSTPAID NET ORGANIC ADDITIONS (LOSSES) | IN THOUSANDS S
Slide 10: Agenda
AGENDA 01 | EXECUTIVE SUMMARY 02 | FINANCIAL RESULTS 03 | APPENDIX
Slide 11: Group Revenue & Adjusted OIBDA
GROUP REVENUE & ADJUSTED OIBDA(1) SIGNIFICANTLY OUTPERFORMING INTERNAL TARGETS REVENUE ADJUSTED OIBDA IN USD MILLIONS; REBASED GROWTH RATE IN USD MILLIONS; REBASED GROWTH RATE (1)% (1)% 1,084 1,083 407 405 Q1 25 Q1 26 Q1 25 Q1 26 • Q1 2026 impacted by full quarter of headwinds from Hurricane • Q1 20
Slide 12: Segment Financial Results: C&W Credit Silo
SEGMENT FINANCIAL RESULTS | C&W CREDIT SILO(1) HURRICANE & TIMING OF EL SALVADOR PROJECT COSTS ADVERSELY IMPACTING ADJUSTED OIBDA Q1 2026 IN USD MILLIONS 11% 9% 13% 11% AS % OF AS % OF AS % OF AS % OF REVENUE REVENUE REVENUE REVENUE 355 631 163 176 282 121 38 64 55 68 15 15 REVENUE ADJ. OIBDA P&E AD
Slide 13: Segment Financial Results: LCR & LPR Credit Silos
SEGMENT FINANCIAL RESULTS | LCR & LPR CREDIT SILOS(1) LCR AFFECTED BY MARKET PRESSURES ON FIXED; STRONG LPR ADJUSTED OIBDA DRIVEN BY COST DISCIPLINE COSTA RICA PUERTO RICO Q1 2026 Q1 2026 IN USD MILLIONS 11% IN USD MILLIONS 7% AS % OF AS % OF REVENUE REVENUE 296 158 91 57 17 19 REVENUE ADJUSTED OIBD
Slide 14: Group Cash Flow Performance
GROUP CASH FLOW PERFORMANCE(1) MEANINGFUL YOY PERFORMANCE PICK-UP IN ADJUSTED FCF ADJUSTED OIBDA LESS P&E ADDS ADJUSTED FCF IN USD MILLIONS; AS PERCENTAGE OF REVENUE IN USD MILLIONS; ABSOLUTE CHANGE DISTRIBUTIONS TO PARTNERS 26% 27% +69 $20M BEFORE NET HURRICANE IMPACT +40 DISTRIBUTIONS TO PARTNERS
Slide 15: Balance Sheet & Liquidity Position
BALANCE SHEET & LIQUIDITY POSITION(1) STRONG CAPITAL STRUCTURES AT C&W & LCR; DISCUSSIONS ONGOING AT LPR COSTA RICA PUERTO RICO $8.4 $5.0 $0.5 $3.0 BILLION BILLION BILLION BILLION TOTAL DEBT TOTAL DEBT TOTAL DEBT TOTAL DEBT CASH TOTAL DEBT TOTAL DEBT TOTAL DEBT 4.5x 3.7x 2.0X 8.0x 13.7x REPORTED COV
Slide 16: Capital Structure & Allocation Update
CAPITAL STRUCTURE & ALLOCATION UPDATE FUTURE FREE CASH FLOW CONFIDENCE & RETURN OF CASH TO SHAREHOLDERS PREFERRED STOCK DISTRIBUTION KEY TERMS • Intention to distribute a new series of preferred stock to • $500m notional amount with 9% dividend rate shareholders • Perpetual maturity with quarterly c
Slide 17: Conclusions
CONCLUSIONS(1) PLATFORM FOR 2026 ALLOWING FOR SHAREHOLDER REMUNERATION 1 2 3 4 SOLID START TO JAMAICA RECOVERY CAPITAL STRUCTURE KEY SHAREHOLDER 2026 OUTPERFORMING & CASH RETURN SUPPORT Renewed confidence in Ahead of internal Adjusted FCF outlook & expectations at Adjusted desire to return cash to A
Slide 18: Agenda
AGENDA 01 | EXECUTIVE SUMMARY 02 | FINANCIAL RESULTS 03 | APPENDIX
Slide 19: Definitions & Additional Information
DEFINITIONS & ADDITIONAL INFORMATION ARPU MOBILE SUBSCRIBERS Average revenue per unit refers to the average monthly subscription revenue (subscription revenue excludes Our mobile subscriber count represents the number of active subscriber identification module (“SIM”) cards in interconnect, mobile h
Slide 20: 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 OIBDA amounts for the period indicated, to derive our rebased growth rates. Due to rounding, certain rebased comparable basis for all businesses that we owned during the cu
Slide 21: 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 OIBDA amounts for the period indicated, to derive our rebased growth rates. Due to rounding, certain rebased comparable basis for all businesses that we owned durin
Slide 22: 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 measure income or loss. We define Adjusted OIBDA less P&E Additions, which is a non-GAAP measure, as Adjusted used by our CODM, our Chief Executive Officer,
Slide 23: Adjusted OIBDA Definition & Reconciliation (Cont.)
ADJUSTED OIBDA DEFINITION & RECONCILIATION (CONT.)(1) On a consolidated basis, Adjusted OIBDA is a non-U.S. GAAP measure. Adjusted OIBDA is the primary measure which we operate. We believe our Adjusted OIBDA measure is useful to investors because it is one of the bases used by our CODM, our Chief Ex
Slide 24: 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 is measured using swapped foreign currency rates. We believe our consolidated leverage and net leverage leverage ratios (Consolidated L
Slide 25: 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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