ATN International: Q3 2025 Earnings Presentation Final

Third Quarter 2025 Earnings Call

November 6, 2025

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Q3 FY 2025

A Message from ATN's Leadership

"Our third quarter results were in line with our expectations and demonstrated steady progress in executing our strategic transformation plan and maintaining disciplined operational focus. We're doing what we said we would do-methodically strengthening our operational foundation, improving our cost structure and margins, and positioning the business for sustainable growth as we move toward 2026."

• Brad Martin, Chief Executive Officer
  
  
  

  "Our refined guidance reflects the continued focus on cost containment efforts and enhanced capital efficiency. We remain confident in our execution capabilities and our path toward sustainable, long-term value creation."

• Carlos Doglioli, Chief Financial Officer

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Key Performance Indicators (Q3 FY 2025)

Strategy Driving YoY Gains Across Most Key Metrics & Favorable Mix

F i b er N etw or k

~12k

Fiber Route Miles

+1% YOY

Hig h - S p eed D a ta

M ob i l e N etw or k

~393k

International Mobile Subscribers

-0.4% YOY

Notes

4 • Data presented may differ from prior reported quarter to reflect more accurate data and/or changes in calculation methodology and process.

• High Speed Data is defined as download speeds ≥ 100 Mbps.

Financial Highlights and Drivers

Q3 Total Revenue and Adjusted EBITDA1

• Revenue reflects network investments (enhancing mobile networks, improving service quality) driving growth.

• Adjusted EBITDA growth reflects the operational leverage achieved through improved efficiency initiatives.

Q3 '25 Revenue Q3 '25 Adj. EBITDA1

52%

$183M

48%

39%

$49M

61%

• Year-over-year and sequential revenue improvement driven by carrier services and fixed revenue growth.

• Adjusted EBITDA improvement demonstrating the success of converting cost containment efforts into structural improvements.

US Intl US Intl

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1. See Appendix for reconciliation of Operating Income to Adjusted EBITDA, a non-GAAP measure.

   International Telecom and US Telecom Segment Financials

   Q3 2025 Revenue & Adjusted EBITDA1

   International Telecom

   Revenue Adjusted EBITDA1

   US Telecom

   +5%

   
   
   

   +20%

   
   
   

   +3%

   
   
   Revenue Adjusted EBITDA1
   
   
   
   
   
   

   +1%

   
   
   
   
   
   

   $94 $95

   $32 $33

   $84 $88

   $18

   $21

   
   
   
   
   
   
   
   
   
   
   
   
   
   
   

   Q3 2024 Q3 2025 Q3 2024 Q3 2025

   (Figures shown in millions)

   Q3 2024 Q3 2025 Q3 2024 Q3 2025

   
   
   

   6 1. See Appendix for reconciliation of Operating Income to Adjusted EBITDA, a non-GAAP measure

   Balance Sheet Update

   Strong Balance Sheet Supports Capital Allocation Priorities

   We are well-capitalized and committed to reducing Capex, managing debt levels and expanding operating cash flow

   $61M

   YTD FY25 CapEx

   $120M

   Cash Position

   $580M

   Debt Position1

   $174M

   Undrawn Revolver Capacity2

   Net Debt Ratio -

   2.47x

   
   
   
   
   
   

   As of September 30, 2025.

   7 1. Debt position excludes customer receivable credit facility

2. Undrawn revolver capacity includes ATN's and Alaska Communications' revolving credit facilities

Key Tenants of ATN's Plan

2025 Strategic Priorities

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International: Continue to convert high-value business opportunities leveraging expanded & upgraded network, localized operations & trusted relationships

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Domestic: Refocus efforts on growing business and carrier customer revenues, strengthen operational teams, and maximize network value

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Reduce internally funded capital expenditures, and leverage grants won and pursue additional grants that economically expand network reach to underserved

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Advance cost containment actions into structural changes to drive higher operating margins

5 Manage balance sheet to enhance cash flow and lower leverage

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Full Year 2025 Outlook

*For the Company's full year 2025 outlook dated 11/5/2025 for Adjusted EBITDA and Net Debt Ratio, the Company is not able to provide without unreasonable effort the

9 most directly comparable GAAP financial measures, or reconciliations to such GAAP financial measures, on a forward-looking basis.

About ATN International

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