Cable One, Inc. · NYSE:CABO
Cable One — Investor Presentation (February 2021)
14 slides from Cable One's investor presentation, Feb 25, 2021
Slide 1: Investor Presentation February 2021
— Cable One” Investor Presentation February 2021
Slide 2: Disclaimer
Disclaimer Tis sesetaton has ben prepa by Cable One, Ine. (Cale One.‘ we" ete ‘Company. The inrron contained in thi pesetatio ifr rational purposes ony. The rman {otued the presentation sc seamen than poit dice and nat tended tobe vedas te ba for malaga estan econ. Ths preseraon hes been prepared wh
Slide 3: Disclaimer
Disclaimer Encept as cherie exes rodedalfrmain herein speaks enya of (1) he date era, th ease of omaton abot Cable One (2) he dt of schilematin, nthe case remation fom pron ce tan Cai On Gabe One setts ro futon he ra ciate lo, eae Estes oun Or an ays ny sod aes based en sources wn babes fo be sale,
Slide 4: Use of Non-GAAP Financial Measures
Use of Non-GAAP Financial Measures “The Company uses cena measures tat not dened by general accepted accouting ince inthe Unted States (GAAP) to ealata vas aspects of isbusiness dusted EBITDA, Adjusted EBITDA mage, Adsteg EBITDA les cptal expendtures and cptalexpandtures asa prceiage cl Austed EBITD
Slide 5: Cable One at a Glance
Cable One at a Glance Differentiated Strategy aes > egandpoidertngnpeedten HD) vate BaEeNSt Soret cetie mode ie woanes ini Wei ive il Sitio sins + 78% of customers located in 7 tats: AZ, 1D, MS, MO, OK 87K rat tocprntnthavorablecompetivedyramies > Consistenttrack record oflong-term financial and ope
Slide 6: Cable One Financial Snapshot
Cable One Financial Snapshot Revenue ($mm) siz | 81347 2017 2018 2019 2020 | iustrative LaA a8 2020 9% grown 117% 29% 135% | Capex(smm) 2017 2018 2019 2020 | iustatve LOA a4 2020 % of Ad Eeroa (404% = 435% = 61% = 43.5% | 42.196 saa 2017 % growth ‘margin 46.2% % of Adi EairDA 595% ‘Ad, EBITDA (Smm)
Slide 7: Hargray at a Glance
Hargray at a Glance BE HARGRAY ss os aes De cmecre teninry ert heey eesoaes neg i: Laenetmlcoresicsne, © einebesbemariea nae hae enti —— eget amore pedacapeel tp tenidiery aomeettrp lp ee ee fe: Soad pena: ean ame antee shia vs > presence in 4 atts anes eh ane wee te oem ies ‘Alabama, Florida, Georg
Slide 8: Mega Broadband Investments ("MBI") Transaction
Mega Broadband Investments (“MBI”) Transaction MBI overview (MBI Financial and Operating Statistics aia eu ot mk ne nee ma ye RN an ‘Sion ai = > ProiéesHS0, vdeo and voce sercesoresietaland business stoners in «aE LOKCH2020 SO Pentaten erate mies ‘small to middle sized markets and rural geographies
Slide 9: Other Strategic Transactions
Other Strategic Transactions > Minority equity investments into two fixed wireless providers > ~$27mm investment in Nextink for <10%; ~$25mm investment in Wispor for ~40% > CAF ilwnners in stos in which Cable One abo provdes service; alows Cable One fo more economical reech customers ist ‘utside of
Slide 10: Appendices
Appendices » Cable One Reconciliation of Net Income to Adjusted EBITDA and Adjusted EBITDA less Capital Expenditures; and Net Profit Margin to Adjusted EBITDA Margin > Cable One Reconciliation of Net Cash Provided by Operating Activities to Adjusted EBITDA less Capital Expenditures > Hargray Reconci
Slide 11: Cable One Income and Expenditures; and Net Profit Margin
Cable One Reconciliation of Net Income to Adjusted EBITDA and Adjusted EBITDA less Capital Expenditures; and Net Profit Margin to Adjusted EBITDA Margin Year Ended December, | tusteative {smm) 2017 2018 2019 04.2020 LaA a4 2020, Revenue $960 81,072 $1,168 $337 $1,347 Net income $235 $165, 179 $125 ‘
Slide 12: Cable One Cash Provided by Operating Activities to Expenditures
Cable One Reconciliation of Net Cash Provided by Operating Activities to Adjusted EBITDA less Capital Expenditures ‘Year Ended December 31, (sm) 2017 2018 2019 04 2020 ‘Net cash provided by operating activities S324 408 $492 Capital expenditures (179) 218) (282) Interest expense ar Cy n ‘Ammoriztion
Slide 13: Hargray Loss and Expenditures; and Net Loss Margin
Hargray Reconciliation of Net Loss to Adjusted EBITDA and Adjusted EBITDA less Capital Expenditures; and Net Loss Margin to Adjusted EBITDA Margin Mustrative (sm) 042020 _! Loa.as 2020 Revenue sm $295 Net oss Cn (S28) ‘Net loss margin 90% 96% Interest expense, net ai 31 ‘Depreciation and amortizatio
Slide 14: Hargray Cash Provided by Operating Activities to Expenditures
Hargray Reconciliation of Net Cash Provided by Operating Activities to Adjusted EBITDA less Capital Expenditures Mustrative {smm) LOA a4 2020 [Net cash provided by operating activities $6 $28 Capita expenditures en (109) Interest expense, net 8 a ‘Amortization of debtissuance costs o ) ‘Changes in o