Slides
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Q3 2026 Results October 23, 2026 1
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Cautionary note 2 The following materials are for presentation purposes only. They accompany the discussions held during Rogers Communications Inc.’s (Rogers) investor conference call on October 23, 2026. Certain statements made in this presentation, including, but not limited to, statements relating to expected future events, financial and operating results, guidance, including our 2026 consolidated guidance on total service revenue, adjusted EBITDA, capital expenditures, and free cash flow, objectives, plans, strategic priorities and other statements that are not historical facts, are forward-looking. By their nature, forward-looking statements require Rogers’ management to make assumptions and predictions and are subject to inherent risks and uncertainties, thus there is risk that the forward-looking statements will not prove to be accurate. Readers are cautioned not to place undue reliance on forward-looking statements as various factors could cause actual future results and events to differ materially from that expressed in the forward-looking statements. Accordingly, our comments are subject to the disclaimer and qualified by the assumptions and risk factors in Rogers’ 2025 Annual Report and Rogers’ Q3 2026 MD&A, as filed with securities regulators at sedarplus.ca and sec.gov, and also available at about.rogers.com/investor-relations. The forward- looking statements made in this presentation and discussion describe our expectations as of today and, accordingly, are subject to change going forward. Except as required by law, Rogers disclaims any intention or obligation to update or revise forward-looking statements. This presentation includes non-GAAP financial measures and other specified financial measures (as described below) that are not standardized under IFRS and might not be comparable to similar financial measures disclosed by other companies. See "Non-GAAP and Other Financial Measures" in Rogers’ 2025 Annual Report and Rogers’ Q3 2026 MD&A for more information about these measures. 1 Adjusted EBITDA is a total of segments measure. 2 Mobile phone ARPU, adjusted EBITDA margin, and capital intensity are supplementary financial measures. 3 Adjusted diluted earnings per share attributable to RCI shareholders is a non-GAAP ratio. Adjusted net income attributable to RCI shareholders is a non-GAAP financial measure and a component of adjusted diluted earnings per share attributable to RCI shareholders. 4 Free cash flow, available liquidity, and debt leverage ratio are capital management measures. This presentation discusses certain key performance indicators used by Rogers, including total service revenue (total revenue excluding equipment revenue in Wireless and Cable) and subscriber counts. Descriptions of these indicators can be found in the disclosure documents referenced above. Trademarks in this presentation are owned or used under license by Rogers Communications Inc. or an affiliate. This presentation also includes trademarks of third parties. The trademarks referred to in this presentation may be listed without the symbols. ©2026 Rogers Communications.
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3 President and CEO Tony Staffieri Chief Financial Officer Glenn Brandt Today’s speakers
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4 • Delivered consolidated service revenue and adjusted EBITDA growth of 1%, while generating record free cash flow and Rogers lowest capital intensity in over two decades ₋ Free cash flow of $1.4 billion, up 65% year over year; achieves over $3 billion in free cash flow year to date ₋ Capital intensity declined significantly to 9.6%, down 840 basis points and amongst the lowest in the industry • Balance sheet improves sequentially with a debt leverage ratio of 3.7x, down 0.1x sequentially • Focus on efficiency and financial discipline continues to drive industry- leading Wireless and Cable adjusted EBITDA margins; margins up 130 basis points to 68% in Wireless, and up 40 basis points to 59% in Cable • Achieves strong performance in Media helped by over 97% average attendance at the Toronto Blue Jays games; Rogers leading sports and media assets continue to show scale • Executes on sports and media strategy; became 100% owner of MLSE on October 1st and turns to process to sell minority interest in our consolidated sports, media, and entertainment assets (Rogers Sports) Q3 highlights
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5 Q3 consolidated results Q3’26Q3’25 ($M) 2,5352,515 Total service revenue +1% Q3’26Q3’25 ($M) 4,7804,739 Adjusted EBITDA1 +1% Q3’2026
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6 Q3’26Q3’25 ($M) 2,0332,059 Q3’26Q3’25 ($) 55.2256.70 Q3’26Q3’25 ($M) 1,3831,374 Q3’26Q3’25 (%) Q3’26Q3’25 (‘000s) 17 111 Q3’26Q3’25 (%) 1.030.99 Q3 Wireless results Service revenue (1%) Adjusted EBITDA +1% Adjusted EBITDA margin +130bps Mobile phone ARPU2 (2.6%) Mobile phone net adds 17K Postpaid mobile phone churn +4bps 68.066.7
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7 Q3’26Q3’25 ($M) 1,9791,974 Q3’26Q3’25 ($M) 1,1641,153 Q3’26Q3’25 (‘000s) 1029 Q3 Cable results Q3’26Q3’25 (%) 58.658.2 Service revenue +0.3% Adjusted EBITDA +1% Adjusted EBITDA margin +40bps Retail Internet net adds 10K
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8 ($M) 821753 Q3 Media results Revenue +9% Adjusted EBITDA +12% ($M) 75 84 Q3’26Q3’25 Q3’26Q3’25
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9 Q3 capital expenditures Capital expenditures (46%) Capital intensity2 (840bps) Q3’26Q3’25 ($M) 524964 Q3’26Q3’25 (%) 9.618.0 Q3’2026
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Summary Q3 consolidated results 10 Total service revenue 4,780 1% Adjusted EBITDA1 2,535 1% Adjusted EBITDA margin2 46.6% (0.4pts) Net income attributable to RCI shareholders 482 (92%) Diluted earnings per share attributable to RCI shareholders $0.88 (92%) Adjusted net income attributable to RCI shareholders3 704 (5%) Adjusted diluted earnings per share attributable to RCI shareholders3 $1.29 (6%) Capital expenditures 524 (46%) Capital intensity2 9.6% (8.4pts) Cash provided by operating activities 1,658 9% Free cash flow4 1,370 65% In millions of dollars, except margins and per share amounts Q3’26 % Change
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11 Available liquidity4 of $8.3B Weighted average interest rate of 5.02% with average term to maturity of 8.3 years Debt leverage ratio4 3.7x Q3 financial position
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12 Note: For further information, please see the "About Forward-Looking Information" section in our Q1 MD&A and in our 2025 Annual MD&A. (In millions of dollars, except percentages) 2025 Actual 2026 Guidance Ranges Total service revenue $19,104 Increase of 3% to 5% Adjusted EBITDA1 $9,820 Increase of 1% to 3% Capital expenditures $3,707 $2,500 to $2,700 Free cash flow4 $3,356 $4,100 to $4,300 2026 Guidance
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Q3 2026 Results October 23, 2026 13