Cogeco Communications (CCA) 11th Annual Desjardins Conference 2026 summary

Spectrum asset value and monetization

• Spectrum holdings valued at CAD 1.5 billion or more, not fully reflected in market valuation.

• Commercial partnership with TELUS increases flexibility for monetizing spectrum.

• Multiple options for spectrum: use, subordinate, or sell, with no immediate commitment.

• Monetization remains a clear option, with updates to come as strategy evolves.

Canadian business performance and growth levers

• Achieved 12 consecutive quarters of market share growth in Canada.

• Best subscriber growth in Canadian telecoms on a percentage basis recently.

• Growth driven by strong sales, marketing, Oxio brand, wireless bundling, and network expansion.

• FWA and resell competition not materially impacting current growth.

Digital brands and margin profile

• Oxio, a fully digital brand, delivers strong margins when operated on owned network.

• Lower cost structure due to digital sales and service channels.

• U.S. launch of welo mirrors Oxio’s model, with initial aggressive pricing as a launch offer.

• Marketing costs for digital brands are minimized through referrals and digital channels.