INVESTOR UPDATE Results For Quarter-end

INVESTOR UPDATE Results For Quarter-end May 31, 2017 (disclosed on July 13, 2017 & updated on August 31, 2017)

TABLE OF CONTENTS OVERVIEW 6 COGECO COMMUNICATIONS 7 Financial Results 21 COGECO 28 COGECO INVESTMENT HIGHLIGHTS 32 APPENDICES 34 Network Maps 35 Customer Profile 37 Acronyms 38 2

FORWARD-LOOKING STATEMENT Certain statements contained in this presentation may constitute forward-looking information within the meaning of securities laws. Forward-looking information may relate to our future outlook and anticipated events, business, operations, financial performance, financial condition or results. Particularly, statements regarding our financial guidelines, future operating results and economic performance, objectives and strategies are forward-looking statements. These statements are based on certain factors and assumptions including expected growth, results of operations, performance and business prospects and opportunities, which we believe are reasonable as of the current date. Refer in particular to the "Corporate Objectives and Strategies" and "Fiscal 2017 Financial Guidelines" sections in the MD&A of the 2016 annual report for a discussion of certain key economic, market and operational assumptions we have made in preparing forward-looking statements. Forward looking statements include statements relating to the following: (i) completion of the MetroCast acquisition and related debt and equity financings; (ii) Cogeco Communications, Atlantic Broadband s ( ABB ) and MetroCast's expected operating results and financial performance; (iii) the estimated tax benefits of the acquisition of the MetroCast assets; (iv) the expected closing date of the acquisition; (v) the expected pro forma Adjusted EBITDA of the MetroCast business being acquired by ABB for the year ending December 31, 2017 and the anticipated benefits of the acquisition and ABB s ability to successfully integrate MetroCast s business. In addition, Cogeco Communications and MetroCast s ability to close the transaction within the expected timeframe, if at all, is dependent upon the parties ability to comply with the closing conditions, some of which are beyond the control of the parties. While we consider these assumptions to be reasonable based on the information currently available to us, they may prove to be incorrect. Forward-looking information is also subject to certain factors, including Uncertainties and Main Risk Factors which are described in the MD&A section of the 2016 annual report and of the third quarter of fiscal 2017 shareholders report that could cause actual results to differ materially from what we currently expect. These factors are not intended to represent a complete list of the factors that could affect Cogeco and future events and results may vary significantly from what we currently foresee. The reader should not place undue importance on forward-looking information contained in this presentation and forward-looking statements contained in this presentation represent our expectations as of the date of the third quarter of Fiscal 2017 shareholders report filed on July 13, 2017 (or as of the date they are otherwise stated to be made) and are subject to change after such date. While we may elect to do so, we are under no obligation (and expressly disclaim any such obligation) and do not undertake to update or alter this information at any particular time, whether as a result of new information, future events or otherwise, except as required by law. Note: All financial results in this presentation exclude the impact of the MetroCast acquisition expected to close in January 2018, unless otherwise stated. 3

NON-AUDITED FINANCIAL INFORMATION AND NON-IFRS MEASURES None of the financial information in this presentation has been audited. Financial information related to MetroCast is based on accounting principles generally accepted in the United States ("U.S. GAAP") which differs from International Accounting Standards ("IFRS") used to prepare Cogeco Communications consolidated financial statements. Cogeco did not provide any reconciliation from U.S. GAAP to IFRS for the expected financial results of MetroCast, but expect financial impact to be minimal based upon differences identified in previous U.S. acquisitions. Cogeco Communications estimation of the expected financial results of the business being acquired for the year ending December 31, 2017 is based on financial information that was prepared by the current management of Harron Communications (the parent of MetroCast). Cogeco Communications has not provided a quantitative reconciliation of the non U.S. GAAP financial measures included in this presentation to the most comparable financial measures presented in accordance with IFRS due to the forward looking nature of the financial information being presented. THE FOLLOWING NON-IFRS / NON-US GAAP MEASURES ARE USED IN THE PRESENTATION AND A RECONCILIATION TO THE MOST COMPARABLE IFRS FINANCIAL MEASURES IS DESCRIBED ON PAGE 59 OF THE COGECO S 2016 ANNUAL REPORT Free cash flow Capital expenditures ("CAPEX") cash flow from operating activities add amortization of deferred transaction costs and discounts on long-term debt changes in non-cash operating activities income taxes paid financial expense paid deduct current income taxes financial expense capital expenditures acquisitions of property, plant, equipment, intangibles and other assets, including assets acquired under capital leases Capital intensity Adjusted EBITDA Operating margin capital expenditures as a % of revenue profit (loss) for the year add income taxes financial expense impairment of goodwill and intangible assets depreciation and amortization claims and litigations integration, restructuring and acquisition costs Adjusted EBITDA as a % of revenue 4

SIMPLIFIED CORPORATE STRUCTURE GESTION AUDEM (Family of the late Henri Audet) 13.1% Equity 70.8% Voting Rights COGECO Market capitalization: $1.4 billion (1) 82.3% Voting Rights 31.7% Equity 100% Voting Rights 100% Equity COGECO COMMUNICATIONS Market capitalization: $4.6 billion (1) LTM revenue (2) $2.22 billion (3) : Cogeco Connexion $1,292 million Atlantic Broadband $ 636 million Cogeco Peer 1 $ 295 million COGECO MEDIA LTM revenue (2) - $122 million (1) As of August 31, 2017 (2) For the last twelve months ended May 31, 2017 (3) Includes inter-segment eliminations and other 5

COMPANY OVERVIEW COGECO COMMUNICATIONS COGECO CONNEXION 2nd largest cable system operator in Ontario and Québec 764,000 Internet service, 730,000 video service and 432,000 telephony service customers ATLANTIC BROADBAND 9th largest cable provider in the United States 270,000 Internet service, 237,000 video service and 101,000 telephony service customers Announced the acquisition of all of the cable systems of Harron Communications (operating under the MetroCast brand name), in partnership with Caisse de dépôt et placement du Québec ( CDPQ ). The acquisition is expected to close in January 2018. MetroCast serves 120,000 Internet, 76,000 video and 37,000 telephony customers (2) COGECO PEER 1 Leading provider of business information and communications technology services, including colocation, hosting, cloud services, network connectivity and managed services COGECO INC. : COGECO MEDIA Second most important radio player in Québec #1 share in hours tuned in Montréal and in Québec City COGECO COMMUNICATIONS SEGMENTATION (1) REVENUE Atlantic Broadband 29% Atlantic Broadband 26% Cogeco Peer 1 13% ADJUSTED EBITDA Cogeco Peer 1 9% Cogeco Connexion 58% Cogeco Connexion 65% (1) Excludes inter-segment eliminations and other for the last twelve months ended May 31, 2017 (2) As of March 31, 2017 6

Cogeco Communications

COGECO CONNEXION S STRATEGY MEETING CUSTOMERS EVOLVING NEEDS WHILE PURSUING PROFITABLE GROWTH GROWING ADJUSTED EBITDA MARGIN (in millions of dollars) $611 $641 $647 $660 49.9% 51.1% 51.2% 52.0% FY2013 FY2014 FY2015 FY2016 Adjusted EBITDA STABLE CAPITAL INTENSITY (in millions of dollars) $230 $224 18.8% 17.8% Operating margin $248 $234 19.6% 18.4% FY2013 FY2014 FY2015 FY2016 IMPROVING MARGINS AS SERVICE OFFERING IS ENHANCED AND EXPANDED 120 Mbps Internet service offered to 96% of the customer base and a 1 Gig Internet service offered in Burlington/Oakville and Trois-Rivières Launched TiVo s enhanced multiplatform video in FY2015 Expanded HD and TV everywhere offering Suite of business solutions, including hosted PBX phones and software as a service STABLE CAPITAL INTENSITY HAS ENABLED DEPLOYMENT OF STATE-OF-THE ART TECHNOLOGIES All digital networks DOCSIS 3.0 rolled-out to 98% of footprint Currently investing in DOCSIS 3.1 technology to accommodate Internet speeds of 1Gig Network enhancement program, which increases distribution system capacity: Conversion to Switch Digital Video ( SDV ) technology completed in Ontario and Quebec Capital as a % of revenue 8

COGECO CONNEXION FY2018 PRIORITIES continue solidifying market position through customer relations built on amazing experiences 1 GROWTH Continue to deploy 1 Gig services within footprint and maintain network expansion intensity Continue to enhance TiVo product offering Maintain competitive pricing strategy to stimulate subscriber growth Evolve business offering with additional managed services and voice capabilities 2 OPTIMIZE RETURN ON INVESTMENT Invest to deliver superior customer experiences while reducing costs Deploy new billing platform and simplify infrastructure Drive low value transactions through digital self serve channels 3 PEOPLE Create an engaging employee experience to drive amazing customer experiences Build on Cogeco Connexion s top 35 employer award to attract and retain talents 9

ATLANTIC BROADBAND S STRATEGY STRATEGIC RESIDENTIAL POSITIONING Fragmented competition Currently sole triple play provider in about 67% of footprint Florida commercial market provides stable cash flow and growth opportunity Superior video platform and Internet speeds Integrated Netflix and YouTube access with TiVo HD channels added with the expansion of all-digital network to over 90% Internet speeds of 120 Mbps in essentially all of the footprint and 1 Gbps service launched in Connecticut and Miami COMMERCIAL GROWTH OPPORTUNITY Approximately 70,000 businesses in footprint Fiber ring deployed in Miami: permits the offering of Metro-Ethernet services STRONG FINANCIAL PROFILE Strong operating margin and free cash flow generation Capital structure allows growth to be financed at the Atlantic Broadband level while providing stable cash stream to Cogeco Communications VIDEO COMPETITION SUMMARY (1) FTTN (2) 26% FiOS 7% DSL Only 67% (1) Cogeco s estimates as a percentage of homes passed (2) Copper Triple-play overbuild includes approximately 10,000 HFC homes passed in Miami. 10

ATLANTIC BROADBAND: FY2018 PRIORITIES 1 2 3 4 DRIVE CUSTOMER GROWTH THROUGH INTERNET SUPERIORITY AND BUNDLE SALES Build on 1 Gbps service which covers about 33% of footprint Leverage launch of more flexible bundles which enables customers to right-size their video package and upsize / upsell their Internet and telephony services Continue to leverage TiVo and enhanced WiFi to increase bundle sales, video ARPU and reduce churn Pursue network expansion in Florida ACCELERATE BUSINESS SERVICES GROWTH BY MOVING UPMARKET Leverage Hosted phone offering Support enterprise growth with advanced transport products and carrier partnerships Launch business WiFi solution MAINTAIN SOLID OPERATING MARGIN Manage direct costs in the face of video programming cost pressure Focus on efficiencies in technical and customer care without sacrificing service INTEGRATION OF THE METROCAST ACQUISITION January 2018 expected closing date Common operating platform and past experience in integrating their Connecticut system 11

ATLANTIC BROADBAND: ACQUISITION OF METROCAST KEY TRANSACTION TERMS US$1.40 BILLION PURCHASE PRICE, US$1.09 BILLION NET OF TAX BENEFITS Purchase of assets, creating tax benefits with an expected present value of US$310 million (1) 9.0x CY2017E Adjusted EBITDA purchase price multiple on a tax adjusted basis (2) Expected closing in January 2018 COMMITTED FINANCING MAINTAINS COGECO COMMUNICATIONS STRONG FINANCIAL POSITION US$1.7 billion Term Loan B and US$150 million Revolving Credit Facility at ABB (3) US$315 million equity investment in ABB s holding company from Caisse de dépôt et placement du Québec ( CDPQ ) for a 21% interest. CDPQ s equity investment reflects a tax adjusted multiple of 8.8x CY2017E Adjusted EBITDA (4) which highlights the value of our combined U.S. cable assets Cogeco Communications estimated consolidated pro forma net leverage at close of 3.6x resulted in all rating agencies confirming the secured debt investment grade rating METROCAST OVERVIEW MetroCast is an incumbent provider of video, Internet and telephony services in the five states of New Hampshire, Maine, Pennsylvania, Maryland and Virginia Offers broadband and entertainment services to residential and commercial customers 95% of homes passed are upgraded (860 MHz or FTTH) to provide MetroCast s full suite of advanced services 100% of homes passed are served by a DOCSIS 3.0 platform and a 150 Mbps Internet service is offered across the footprint For the year ending December 31, 2017, MetroCast expects revenue of US$230 million and Adjusted EBITDA of US$121 million CUSTOMER STATISTICS (AS OF MARCH 31, 2017) (1) Assumes present value of tax assets due to step-up, based on illustrative discount rate of 8.0%. (2) Based on tax adjusted purchase price which is net of the US$310 million tax benefits related to the step-up of intangibles in an asset purchase. (3) Includes the refinancing of ABB s existing debt and funding of transaction costs. (4) Multiple reflects ABB s pro forma estimated tax assets value of $420 million as illustrated on slide 16 Internet 119,855 Telephony 36,581 Video 76,325 12

ATLANTIC BROADBAND: ACQUISITION RATIONALE Strategic Further establishes ABB as a strategic platform in the U.S. with a diversified geographical footprint from Maine to Florida Adds scale in the American Broadband segment which continues to exhibit steady growth and is expected to keep generating strong operating margins MetroCast is largely located in non-metropolitan markets with very attractive demographic profiles and fragmented competition Operational Opportunity to leverage ABB s product & sales expertise to quickly increase the customer base and deliver superior growth High quality, fully digital network, comprised of 860 MHz or fiber to the home in 95% of the network, and providing 150 Mbps Internet service company-wide Minimal integration risk due to management's prior successful experience integrating MetroCast's Connecticut system and common service delivery and back office platforms between the two operations Financial Acquisition serves as a catalyst for a new partnership with CDPQ, a leading global investor This partnership will contribute to the future growth of the business 13

ATLANTIC BROADBAND: METROCAST BENEFITS FROM SUPERIOR DEMOGRAPHICS AND A FAVORABLE COMPETITIVE LANDSCAPE ATTRACTIVE DEMOGRAPHICS (1) Demographics MetroCast s footprint covers markets with a higher than average income growth and household formation and lower rates of unemployment than the U.S. average MetroCast s footprint has a much greater propensity to adopt technology than ABB and U.S. overall MetroCast ABB U.S. AVG. MEDIAN INCOME $59.3K $50.4K $55.2K AVERAGE UNEMPLOYMENT RATE 4.8% 5.6% 5.8% % HIGH TECH ADOPTERS 31.0% 12.0% 21.0% PROJECTED HOUSING 5.7% 3.9% 5.5% GROWTH (3) Competition MetroCast faces wireline triple-play competition in only 5% of its footprint and minimally capable DSL speeds in most geographies Competitors offer Internet speeds above 25 Mbps in only 8% of MetroCast s footprint (FTTN and FTTH coverage) Competitors offer Internet speeds above 15 Mbps in only 41% of MetroCast s footprint COMPETITIVE LANDSCAPE (2) FTTN 5% FTTH 3% DSL Only 92% (1) Experian 2016 and Claritas ConneXions 2017. (2) Cogeco s estimate as a percentage of homes passed. (3) Over the next 5 year period 14

ATLANTIC BROADBAND: INCREASING MIX OF HIGH GROWTH U.S. CABLE (CND$ IN MILLIONS) Unaudited CANADIAN BROADBAND AND BUSINESS ICT COGECO CONNEXION COGECO PEER I AMERICAN BROADBAND ATLANTIC BROADBAND COGECO CONSOLIDATED (1) METROCAST (2) PRO FORMA COGECO CONSOLIDATED Revenue $1,292 $295 $636 $2,219 $306 $2,525 Adjusted EBITDA $678 $91 $269 $1,006 $161 $1,167 COGECO BUSINESS MIX U.S. CABLE MIX (3) ADJUSTED EBITDA PRE-TRANSACTION ABB (U.S. Cable) 26% ADJUSTED EBITDA POST-TRANSACTION ABB / MetroCast (U.S. Cable) 36% Business ICT 9% Canadian Broadband 65% Business ICT 8% Canadian Broadband 56% Note: Cogeco LTM financials as of May 31, 2017 and MetroCast projected financials for LTM as of December 31, 2017. (1) Includes inter-segment eliminations and other (2) Assumes that U.S. results are converted into CND$ at CND$/US$ rate of 1.33. (3) Excludes inter-segment eliminations and other 15

ATLANTIC BROADBAND PRO FORMA METROCAST: TAX ASSETS WILL SUPPORT SUPERIOR CASH FLOW GROWTH OVER SEVERAL YEARS It is estimated that ABB will not pay cash taxes before FY2022, primarily as a result of the 15-year amortization of acquired intangible assets and its tax losses carried forward Starting in FY2022, it is expected that cash taxes will gradually increase (US$ millions) MetroCast Purchase Price $1,400 (-) Amount allocated to PP&E (estimated) ($150) Intangibles step-up amount $1,250 Life of write-up (years) 15 Incremental annual intangible asset tax amortization $83 Present value of step-up tax asset related to MetroCast ~$310 (1) Present value of ABB's tax losses carried forward (2) ~$60 (1) Present value of ABB's existing intangibles assets (3) ~$50 (1) Total ~$420 (1) Discounted using a rate of 8.0%. (2) Tax losses carried forward are estimated at US$170 million as of December 31, 2017. (3) ABB s intangible assets which benefit from a tax step-up are estimated at US$220 million as of December 31, 2017. 16

COGECO PEER 1 16 DATA CENTRES 50+ POINTS OF PRESENCE 48k KILOMETERS OF FIBRE 1,800 ON NET BUILDINGS 17

COGECO PEER 1: CORE SERVICE OFFERINGS PROVIDING A COMPLETE RANGE OF BUSINESS INFORMATION AND COMMUNICATIONS TECHNOLOGY APPLICATION DRIVEN CLOUD PLATFORMS COMPREHENSIVE HOSTING WORLD CLASS COLOCATION HIGH PERFORMANCE CONNECTIVITY BEST IN CLASS MANAGED SERVICES Flexible Cloud platforms designed for performance, intensive computing and scalability Complete IT infrastructure stack for hosting business applications and online storefronts Best-in-class carrier neutral data centre facilities, allowing business customers to lease space and power to protect mission critical or legacy applications Comprehensive suite of connectivity options delivering Wavelength, Internet, IP/Ethernet over our Global MPLS FastFibre TM network Suite of managed services including monitoring, OS, databases, security, and back up to help customers manage their front line and back office applications (from e-commerce to Microsoft Office 365 to active data protection) 18

COGECO PEER 1: FY2018 PRIORITIES 1 FOCUS ON SUSTAINABLE REVENUE GROWTH Hosting and Cloud Solutions - Market the advantages of dealing with a full service provider - Greater go-to-market emphasis on hybrid cloud offerings - Leverage current partnership with Microsoft Azure and other cloud partners - Amplify Partner and Reseller Programs, launched in 2017, to accelerate indirect sales - Engage customers with new services such as Managed IT and Security Connectivity - Increase penetration of on-net buildings - Cross sell to colocation and managed services customers - Expand our MPLS reach globally with a leading edge SD-WAN offering Colocation - Market best-in-class facilities that can be sold at a premium Brand - Continue to build the Cogeco Peer 1 brand in the market as one stop shop 19

COGECO PEER 1: FY2018 PRIORITIES 2 3 4 FINANCIAL AND SYSTEMS IMPROVEMENT INITIATIVES Achieve savings from infrastructure consolidation initiative undertaken in 2 nd half of FY2017 Complete the integration of key internal Business Support Systems Establish a consistent operating model across all regions to improve speed to market CONTINUE TO GENERATE MEANINGFUL UNLEVERED FREE CASH FLOW Set focus on sales performance to grow our revenue base Capex intensity maintained in the low 20%, a similar level to FY2017 PEOPLE & INCENTIVES Strengthen service delivery and customer support by investing in additional human resources Strengthen Talent Management programs to attract and develop key personnel 20

FINANCIAL RESULTS (All financials in this section exclude the impact of the MetroCast acquisition (1) ) (1) Expected to close in January 2018

FINANCIAL HIGHLIGHTS YEARS ENDED AUGUST 31 Superior revenue and Adjusted EBITDA growth was achieved in FY2016 mainly as a result of Atlantic Broadband s Connecticut acquisition on August 20, 2015, organic growth and favorable FX (1) Introducing FY2018 financial guidelines with revenue and Adjusted EBITDA growing 4.5% at the mid point of the guidelines FY2017 and FY2018 guidelines assume a relatively stable CND/USD average rate relative to FY2016 REVENUE (in millions of dollars) ADJUSTED EBITDA AND OPERATING MARGIN (in millions of dollars, except percentages) 1,025-1,050 PROFIT (LOSS) FOR THE YEAR (in millions of dollars) 258 2,300-2,330 983 980-1,005 2,043 2,176 2,200-2,230 930 45.5% 45.2% 44.5-45.1% 44.6%-45.1% (190) (2) FY2015 FY2016 FY2017G FY2018G FY2015 FY2016 FY2017G FY2018G FY2015 FY2016 (1) CND/USD average FX rate has increased from 1.2101 in FY2015 to 1.3273 in FY2016. FY2017 and FY2018 guidelines based on CND/USD average FX rate of 1.32 and 1.33, respectively. (2) The FY2016 loss for the year was due to an after-tax impairment charge of $434 million related to Cogeco Peer 1 22

FINANCIAL HIGHLIGHTS YEARS ENDED AUGUST 31 Fiscal 2017 Capex intensity at Cogeco Peer 1 should significantly decline to the low 20% level compared to FY2016, when about $50 million was invested to secure a large colocation contract Overall capex intensity in the broadband segments should remain relatively stable Free cash flow should grow by 23-33 % in FY2017 Fiscal 2018 Capex intensity in Canadian broadband and Business ICT should remain relatively stable. Capex intensity in US broadband expected to increase as a result of continued expansion in Florida Free cash flow should remain in the same range compared to FY2017 as Adjusted EBITDA growth will be offset by higher capex in the US broadband CASH FLOW FROM OPERATING ACTIVITIES (in millions of dollars) 745 CAPEX & CAPITAL INTENSITY (in millions of dollars, except percentages) 468 470-485 FREE CASH FLOW (in millions of dollars) 286 281 345-375 345-375 689 439 430-445 21.5% 21.5% 19.5-20% 20.5-21.0% FY2015 FY2016 FY2015 FY2016 FY2017G FY2018G FY2015 FY2016 FY2017G FY2018G 23

SUSTAINED DIVIDEND GROWTH ANNUAL DIVIDEND DECLARED PER SHARE +10% CAGR 17% $1.00 $1.04 $1.20 $1.40 $1.56 $1.72 $0.56 $0.71 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017(1) Sustained free cash flow generation has allowed us to pursue growth objectives while returning capital to shareholders Conservative dividend payout ratio to FY2017 free cash flow guidelines (2) at 24% (1) Annualized quarterly dividend of $0.43 per share declared on November 2, 2016, January 11, 2017, April 6, 2017 and July 13, 2017. The dividend is subject to Board of Directors approval on a quarterly basis and there is no assurance that it will remain at current level (2) Based on Cogeco Communications mid-range financial guidelines which were updated on November 2, 2016 24

SOLID BALANCE SHEET AND LIQUIDITY POSITION History of deleveraging following acquisitions Following a change in notching methodology for BB+ corporate issuers in December 2016, S&P assigned a secured rating of BBB-. S&P s secured rating is now aligned with DBRS and Fitch s ratings. CONSOLIDATED NET DEBT (1) / ADJUSTED EBITDA Acquisition of three companies operating in the business market in Ontario (2) 2.5 Acquisition of Quiettouch & MTO Acquisition of Atlantic Broadband & Peer 1 Hosting Acquisition of Connecticut system SOLID LIQUIDITY POSITION May 31, 2017 ($ millions) Revolving Credit Facilities 1,003 1.9 1.8 1.7 (3) 1.4 (3) 3.5 (4) 3.0 3.3 (5) 2.9 2.6 Amounts drawn 62 Unused credit facilities Cash and equivalents 941 102 FY2008 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 Q3-FY2017 BBB- BBB- BBB- BBB BBB BBB BBB BBB BBB BBB- Liquidity 1,043 S&P Senior Secured Rating (1) Represents the addition of bank indebtedness, balance due on business combination, intercompany note payable, principal on long-term debt and obligations under derivative financial instruments net of cash and equivalents (2) Includes Toronto Hydro Telecom Inc., which now operates under the name of Cogeco Peer 1, the assets of MaXess Networx and FibreWired Burlington Hydro Communications (3) Restated for IFRS purposes (4) Includes twelve months EBITDA of Atlantic Broadband and Peer 1 Hosting (5) Includes the acquisition of MetroCast Connecticut 25

MANAGEABLE MATURITIES AND LOW COST OF CAPITAL ($ MILLIONS) LONG-TERM DEBT MATURITIES (1) August 31 2015 2016 Average Cost of Debt 4.1% 4.1% Average Life 5.2Y 4.8Y COGECO COMMUNICATIONS (Excluding credit facility) $540 (2) ATLANTIC BROADBAND (Non-recourse financing) $300 $290 (2) $825 (2) $200 $200 $202 (2) $100 $55 $34 (2) FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 FY2026 Senior Secured Bonds and Notes FY2017 FY2018 FY2019 FY2020 Term loan A & B Revolver(3) Senior Unsecured Bonds (1) Maturities for each fiscal year excludes Cogeco Communications $800 million credit facility maturing in FY2022 of which $5.4 million is drawn at May 31, 2017 (2) Converted at the May 31, 2017 closing exchange rate of CND$1.3500 per US$1.00 (3) Quarterly repayments with final payments between September and November 2019. This debt is expected to be refinanced along with the debt acquisition financing of MetroCast which is expected to close in January 2018 26

US$ DEBT REDUCES FREE CASH FLOW FX EXPOSURE AND HEDGES NET INVESTMENTS IN US SUBSIDIARIES Cogeco Communications is naturally hedged from a free cash flow perspective as US$ EBITDA exposure is offset by interest expense on US denominated debt and capex Estimated Impact of a 10% depreciation of the CND$ relative to US$ and GBP in FY2016 (1) Favorable / (Unfavorable) Impact (in millions CND$) Cogeco Connexion ABB Cogeco Peer 1 Consolidated Revenue - 61.0 16.9 77.9 Adjusted EBITDA (2.7) 26.0 6.6 29.9 Financial expense (7.9) Other items (2) 0.2 Capex (6.6) (11.9) (3.4) (22.0) Free Cash Flow 0.2 impact For FY2016 and the nine months ended May 31, 2017 the impact of a 10% depreciation of the CND$ on free cash flow was $ 0.2 million and $ 0.7 million, respectively. Foreign exchange risk related to the net investments in ABB and Cogeco Peer 1 USA is hedged at 88% through debt in the same currency. The hedge ratio is lower than 100% to reduce FX impact on FCF As of May 31, 2017 US$M ABB and Cogeco Peer 1 USA net investments 901.7 US$ indebtedness designated as hedge 790.0 Hedge ratio 88% (1) FX impact related to revenue, Adjusted EBITDA and CAPEX is disclosed on page 32 of Cogeco Communications 2016 annual report. The impact on financial expense can be derived from the Long-term debt note disclosure on page 92 of the 2016 annual report (2) Other items include the impact of integration, restructuring and acquisition costs, current income taxes and the amortization of deferred costs and discounts on long-term debt related to ABB and Cogeco Peer 1 27

Cogeco

COGECO COGECO Public market value of equity $1,374M (16.7M shares at $82.51 (1) ) 15.7M shares of CCA Investment in COGECO COMMUNICATIONS $1,466M ($88.07 per CGO share (1)(2) ) COGECO MEDIA (Radio broadcasting) (1) As of August 31, 2017 (2) Based on a CCA share price of $93.45 multiplied by a ratio of 0.94. Ratio equals shares of CCA held by CGO divided by CGO shares outstanding 29

MEDIA PROFILE: COGECO MEDIA 29 years as a radio operator Second most important radio player in Québec 13 radio stations covering most demographics No. 1 in share of hours tuned in Montréal and in Québec City Radio is an important media for Quebecers 87% tune in every week Time spent listening of 18 hours per week News agency with a presence in more than 50 cities in Québec 30

STRONG NETWORK OF RADIO STATIONS 31

INVESTMENT HIGHLIGHTS

INVESTMENT HIGHLIGHTS Strong Canadian Cable Franchises Stable growth with strong operating margin Leveraging superior Internet speeds in most of our footprint Successful U.S. Cable Expansion Strategy Robust organic growth in our largely non-metropolitan markets with fragmented competition Further enhancement opportunities through the MetroCast acquisition which will be facilitated by strong U.S. management team with acquisition integration track record U.S. Cable s contribution to consolidated Adjusted EBITDA will increase from 26% to 36% following the acquisition of MetroCast Leveraging investments at Cogeco Peer 1 Positioned to capitalize on recent investments and significantly improve unlevered free cash flows Strong Financial Performance Attractive margins, strong FCF, dividend growth and low dividend payout Prudent financial management with a history of deleveraging following acquisitions 33

APPENDICES

COGECO CONNEXION: INTER-CITY FIBER NETWORK 35

ATLANTIC BROADBAND: PRO FORMA METROCAST ACQUISITION 36

CUSTOMER PROFILE May 31, 2017 Cogeco Connexion Atlantic Broadband Total MetroCast (1) Homes passed 1,725,769 592,138 2,317,907 236,454 Primary service units (2) 1,926,537 608,388 2,534,925 232,761 Video service customers 729,701 237,319 967,020 76,325 Internet service customers 764,350 270,336 1,034,686 119,855 Telephony service customers 432,486 100,773 533,219 36,581 Video service penetration (3) 42.3% 40.1% 41.7% 32.3% Internet service penetration (3) 44.3% 45.7% 44.6% 50.7% Telephony service penetration (3) 25.1% 17.0% 23.0% 15.5% (1) Customer statistics as of March 31, 2017. Acquisition expected to close in January 2018 (2) Includes video, Internet and telephony customers (3) As a percentage of homes passed 37

ACRONYMS CAGR DOCSIS Gbps Mbps Compound Average Growth Rate Data Over Cable Service Interface Specifications Gigabits per second Megabits per second 38