Rogers Communications Investor Presentation — January 2019

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2018 Q4 ResultsThe following materials are for presentation purposes only. They accompany the discussions held during Rogers Communications Inc.’s (Rogers) investor

conference call on January 24, 2019. These materials should be read in conjunction with the disclosure documents referenced below.

Certain statements made in this presentation, including, but not limited to, statements relating to expected future events, f inancial and operating results,

guidance, objectives, plans, strategic priorities and other statements that are not historical facts, are forward -looking. By th eir nature, forward -looking statements

require Rogers’ management to make assumptions and predictions and are subject to inherent risks and uncertainties, thus ther e 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 a n umber of factors could cause

actual future results and events to differ materially from that expressed in the forward -looking statements. Accordingly, our co mments are subject to the

disclaimer and qualified by the assumptions and risk factors referred to in Rogers’ 2017 Annual Report, and Rogers’ Fourth Quarter 2018 Press Release (which

was issued on January 24, 2019), as filed with securities regulators at sedar.com and sec.gov, and also available at investors.rogers.com. The forward -looking

statements made in this presentation and discussion describe our expectations as of today and, accordingly, are subject to ch ange 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 measures, including adjusted EBITDA, adjusted EBITDA margin, adjusted net income, adjusted diluted EPS, adjusted net

debt, debt leverage ratio (adjusted net debt / 12 -months trailing adjusted EBITDA), and free cash flow. Descriptions of these measures and why they are used can

be found in the disclosure documents referenced above.

This presentation discusses certain key performance indicators used by Rogers, including total service revenue (total revenue excl uding equipment revenue in

Wireless and Cable), subscriber counts, subscriber churn, blended ARPU , and blended ABPU. Descriptions of these indicators can be found in the disclosure

documents referenced above.3|

2018 Q4 Results1. Internet penetration calculated as Internet subscribers divided by homes passed

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