<SEC-DOCUMENT>0000733099-21-000003.txt : 20210128
<SEC-HEADER>0000733099-21-000003.hdr.sgml : 20210128
<ACCEPTANCE-DATETIME>20210128090712
ACCESSION NUMBER:		0000733099-21-000003
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20201231
FILED AS OF DATE:		20210128
DATE AS OF CHANGE:		20210128

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ROGERS COMMUNICATIONS INC
		CENTRAL INDEX KEY:			0000733099
		STANDARD INDUSTRIAL CLASSIFICATION:	CABLE & OTHER PAY TELEVISION SERVICES [4841]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-10805
		FILM NUMBER:		21562209

	BUSINESS ADDRESS:	
		STREET 1:		333 BLOOR STREET EAST
		STREET 2:		10TH FLOOR
		CITY:			TORONTO, ONTARIO
		STATE:			A6
		ZIP:			M4W 1G9
		BUSINESS PHONE:		4160353532

	MAIL ADDRESS:	
		STREET 1:		333 BLOOR STREET EAST
		STREET 2:		10TH FLOOR
		CITY:			TORONTO, ONTARIO
		STATE:			A6
		ZIP:			M4W 1G9

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ROGERS CABLESYSTEMS INC
		DATE OF NAME CHANGE:	19860425
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>rci-12312020x6k.htm
<DESCRIPTION>6-K
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head>
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<title>Document</title></head><body><div id="i0361daae74a943978636815d9ae4dd53_1"></div><div style="min-height:42.75pt;width:100%"><div><font><br></font></div></div><div style="margin-top:9pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%">UNITED STATES</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%">SECURITIES AND EXCHANGE COMMISSION</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%">WASHINGTON, D.C. 20549</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">________________________________________________</font></div><div style="text-align:center"><font><br></font></div><div style="margin-top:4pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:14pt;font-weight:700;line-height:120%">FORM 6-K</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">________________________________________________</font></div><div style="margin-top:12pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Report of Foreign Private Issuer</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Pursuant to Rule 13a-16 or 15d-16</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%">under the Securities Exchange Act of 1934</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">________________________________________________</font></div><div style="margin-top:12pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For the month of January, 2021</font></div><div style="margin-top:6pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Commission File Number 001-10805</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">________________________________________________</font></div><div style="margin-top:12pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:24pt;font-weight:700;line-height:120%">ROGERS COMMUNICATIONS INC.</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(Translation of registrant&#8217;s name into English)</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">________________________________________________</font></div><div style="margin-top:12pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">333 Bloor Street East</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">10th Floor</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Toronto, Ontario M4W 1G9</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Canada</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(Address of principal executive offices)</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">________________________________________________</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;</font></div><div style="margin-top:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F&#58;</font></div><div style="margin-top:12pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Form&#160;20-F&#160;&#160;</font><font style="color:#000000;font-family:'Wingdings',sans-serif;font-size:10pt;font-weight:400;line-height:120%">o</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160; Form&#160;40-F&#160;&#160;</font><font style="color:#000000;font-family:'Wingdings',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#254;</font></div><div style="margin-top:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1)&#58;</font></div><div style="margin-top:12pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Yes&#160;&#160;</font><font style="color:#000000;font-family:'Wingdings',sans-serif;font-size:10pt;font-weight:400;line-height:120%">o</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; No&#160;&#160;</font><font style="color:#000000;font-family:'Wingdings',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#254;</font></div><div style="margin-top:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7)&#58;</font></div><div style="margin-top:12pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Yes&#160;&#160;</font><font style="color:#000000;font-family:'Wingdings',sans-serif;font-size:10pt;font-weight:400;line-height:120%">o</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; No&#160;&#160;</font><font style="color:#000000;font-family:'Wingdings',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#254;</font></div><div style="margin-top:9pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="margin-top:4pt;text-align:center"><font><br></font></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div></div></div><div id="i0361daae74a943978636815d9ae4dd53_4"></div><hr style="page-break-after:always"><div style="min-height:42.75pt;width:100%"><div><font><br></font></div></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Signatures</font></div><div style="margin-top:12pt;text-align:justify;text-indent:24.75pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#160;</font></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:50.290%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.342%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:1.974%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:37.994%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">ROGERS COMMUNICATIONS INC.</font></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">By&#58;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#47;s&#47; Anthony Staffieri</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Name&#58; Anthony Staffieri</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Title&#58; Chief Financial Officer</font></td></tr></table></div><div style="margin-top:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Date&#58;&#160;January&#160;28, 2021 </font></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div></div></div><div id="i0361daae74a943978636815d9ae4dd53_7"></div><hr style="page-break-after:always"><div style="min-height:42.75pt;width:100%"><div><font><br></font></div></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Exhibit Index</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#160;</font></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:11.363%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.533%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:85.704%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%;text-decoration:underline">Exhibit&#160;Number</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%;text-decoration:underline">Description of Document</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">99.1</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">News Release dated January 28, 2021 - ROGERS COMMUNICATIONS REPORTS FOURTH QUARTER AND FULL-YEAR 2020 RESULTS</font></td></tr></table></div><div><font><br></font></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div></div></div></body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>rci-12312020xexhibit991.htm
<DESCRIPTION>EX-99.1
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head>
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<title>Document</title></head><body><div id="id133cfed770e469cb2e56b44a04d6fcf_4"></div><div style="min-height:45pt;width:100%"><div style="text-align:justify"><font><br></font></div></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:78.930%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.870%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"><div style="text-align:justify"><img alt="rogerslogoa131a.jpg" src="rogerslogoa131a.jpg" style="height:42px;margin-bottom:5pt;vertical-align:text-bottom;width:216px"></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Exhibit 99.1</font></td></tr></table></div><div style="text-align:center"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:13pt;font-weight:700;line-height:120%">ROGERS COMMUNICATIONS REPORTS FOURTH QUARTER AND FULL-YEAR 2020 RESULTS</font></div><div style="margin-top:3pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%;padding-left:12.5pt">Continued solid execution and a strong balance sheet despite COVID-19 impacts positions Rogers well for current and post-pandemic recovery environments</font></div><div style="margin-top:3pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%;padding-left:12.5pt">Strong delivery of Wireless postpaid net subscriber additions of 114,000, with adjusted EBITDA service margin up 370 basis points despite impacts of new Q4 lockdowns</font></div><div style="margin-top:1.5pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:700;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:700;line-height:120%;padding-left:13.25pt">Monthly postpaid churn of 1.19%, improved 7 basis points</font></div><div style="margin-top:1.5pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:700;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:700;line-height:120%;padding-left:13.25pt">Service revenue down 8% and adjusted EBITDA down 3%</font></div><div style="margin-top:3pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%;padding-left:12.5pt">Increased Cable service revenue by 3%&#59; grew adjusted EBITDA by 5%</font></div><div style="margin-top:1.5pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:700;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:700;line-height:120%;padding-left:13.25pt">Adjusted EBITDA margin up 60 basis points&#59; capital intensity decreased to 22%, down 700 basis points</font></div><div style="margin-top:1.5pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:700;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:700;line-height:120%;padding-left:13.25pt">19,000 net new Internet subscribers, 71,000 net new Ignite TV&#8482; subscribers in quiet selling period</font></div><div style="margin-top:3pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%;padding-left:12.5pt">Strong Media margins despite delays of live professional sports broadcasting</font></div><div style="margin-top:3pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%;padding-left:12.5pt">Free cash flow of $568 million, up 14%&#59; strong liquidity position of $5.7 billion</font></div><div style="margin-top:3pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%;padding-left:12.5pt">Paid $253 million in dividends and declared a quarterly dividend of $0.50 per share</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">TORONTO (January&#160;28, 2021) - Rogers Communications Inc. today announced its unaudited financial and operating results for the fourth quarter ended December&#160;31, 2020.</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Consolidated Financial Highlights</font></div><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.699%"><tr><td style="width:1.0%"></td><td style="width:43.026%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.086%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.086%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.086%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.553%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.086%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.086%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.091%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;&#160;</font></td><td colspan="9" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Three months ended December 31</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="9" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Twelve months ended December 31</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(In millions of Canadian dollars, except per share amounts, unaudited)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">% Chg</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">% Chg</font></td></tr><tr style="height:6pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total revenue</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,680</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,952&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">13,916</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15,073&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total service revenue </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">1</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,023</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,244&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">11,955</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12,965&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjusted EBITDA </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">2</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,590</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,530&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5,857</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,212&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net income</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">449</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">468&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,592</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,043&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(22)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjusted net income </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">2</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">500</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">511&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,725</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,135&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(19)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:6pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Diluted earnings per share</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$0.89</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$0.92&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$3.13</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$3.97&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(21)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjusted diluted earnings per share</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"> 2</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$0.99</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$1.00&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$3.40</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$4.15&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(18)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:6pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash provided by operating activities</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">947</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,166&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(19)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,321</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,526&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 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Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">497&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #000000;border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,366</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,278&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:3pt;padding-left:4.5pt;text-align:justify;text-indent:-4.5pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">1&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:120%">As defined. See &#34;Key Performance Indicators&#34;.</font></div><div style="padding-left:4.5pt;text-align:justify;text-indent:-4.5pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">2&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:120%">As defined. See &#34;Non-GAAP Measures and Related Performance Measures&#34;. These measures should not be considered substitutes or alternatives for GAAP measures. These are not defined terms under IFRS and do not have standard meanings, so may not be a reliable way to compare us to other companies.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#34;Rogers continued to see sequential improvement in Q4, finishing the year with solid efficiency gains across all of our businesses, a strong balance sheet, solid Wireless postpaid net subscribers, and continued momentum in cash flow growth in our Cable business,&#34; said Joe Natale, President and CEO. &#34;Despite the ongoing uncertainty from the pandemic, we remain committed to investing in our customers and our country by expanding our world-class networks that Canadians are relying on and continuing to build out Canada's largest 5G network, which will play an important role in Canada's long-term productivity and post-pandemic recovery efforts.&#34;</font></div><div style="text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.929%"><tr><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.234%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Rogers Communications Inc.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fourth Quarter 2020</font></td></tr><tr><td colspan="3" style="display:none"></td></tr></table></div></div></div><div id="id133cfed770e469cb2e56b44a04d6fcf_43"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div style="text-align:justify"><font><br></font></div></div><div><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Quarterly Financial Highlights</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Our solid financial position enables us to prioritize the actions we need to take as a result of the COVID-19 pandemic (COVID-19), continue to make high priority investments in our network, and ensure customers stay connected during this critical time.</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Revenue</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Total revenue decreased by 7% this quarter, largely driven by an 8% decrease in Wireless service revenue.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The Wireless service revenue decrease was mainly a result of lower roaming revenue due to global travel restrictions during COVID-19, and lower overage revenue, primarily as a result of the continued adoption of our </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">Rogers Infinite</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8482; unlimited data plans. Wireless equipment revenue decreased as a result of a lower gross additions and lower device upgrades by existing subscribers during COVID-19.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Cable revenue increased by 3% this quarter as a result of the movement of Internet customers from our legacy Internet to our Ignite Internet offerings and service pricing changes and discipline.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Media revenue decreased by 23% this quarter, primarily as a result of the postponement of the start of the 2020-2021 NHL and NBA seasons, which traditionally start early in the fourth quarter, and softness in the advertising market due to COVID-19, partially offset by higher revenue at </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">Today's Shopping Choice</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8482;.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Adjusted EBITDA and margins</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Consolidated adjusted EBITDA increased 4% this quarter and our adjusted EBITDA margin increased by 450 basis points.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Wireless adjusted EBITDA decreased by 3%, primarily as a result of the flow-through impact of the aforementioned decrease in revenue, partially offset by the shift to device financing, which has significantly improved our Wireless equipment margin, and various cost efficiencies. This gave rise to an adjusted EBITDA service margin of 63.2%, an improvement of 370 basis points from last year.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Cable adjusted EBITDA increased by 5% this quarter, primarily as a result of higher service revenue, as discussed above. This gave rise to a margin of 51.0% this quarter, up 60 basis points from last year.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Media adjusted EBITDA increased by $60 million this quarter primarily due to lower programming and production costs associated with the delayed start of major sports leagues relative to our maintained subscriber revenues and lower general operating costs as a result of reduced operating activity and cost efficiencies, partially offset by lower revenue, as discussed above. This gave rise to a margin of 20.0% this quarter.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Net income and adjusted net income</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Net income and adjusted net income decreased this quarter by 4% and 2%, respectively, primarily as a result of higher depreciation and amortization and higher other expenses, partially offset by higher adjusted EBITDA.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Substantial cash flow and available liquidity</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">This quarter, we continued to generate substantial cash flow from operating activities of $947 million, down 19% as a result of an increase in net working capital and cash income taxes, and free cash flow of $568 million, up 14%.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Furthermore, as at December&#160;31, 2020, we had $5.7 billion of available liquidity, including $2.5 billion in cash and cash equivalents and a combined $3.2 billion available under our bank credit facility and receivables securitization program, and investment-grade credit ratings with a stable outlook. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">We also returned $253 million in dividends to shareholders this quarter and we declared a $0.50 per share dividend on January 27, 2021.</font></div><div style="text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.929%"><tr><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.234%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Rogers Communications Inc.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fourth Quarter 2020</font></td></tr><tr><td colspan="3" style="display:none"></td></tr></table></div></div></div><div id="id133cfed770e469cb2e56b44a04d6fcf_40"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div style="text-align:justify"><font><br></font></div></div><div><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Operating Environment and Strategic Highlights</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">COVID-19 continues to significantly impact Canadians and economies around the world as a second wave affects Canada and other locations globally. After experiencing the most significant impact of COVID-19 to date in the second quarter, our results have recovered materially and are growing sequentially, although they are still down compared to last year. As a critical service provider during this time, it is of utmost importance to ensure our customers stay connected and that our customers and employees remain safe. This has not changed since the onset of the pandemic, when we quickly shifted priorities to keep our team members safe and customers connected.</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">In March 2020, we took swift action to ensure our customers and employees remain safe during the pandemic, including temporarily closing the majority of our retail stores across Canada and enabling about 90% of our employees to work from home. We also took steps to ensure our customers could stay connected to the world around them, including temporarily providing free services (offering a rotating selection of premium television channels), waiving certain fees for a designated period of time (for example international roaming fees and long distance voice calling fees), and adding network capacity and managing traffic.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">In early 2020, we also implemented compensation- and health and safety-related programs to help our employees get through this challenging time, including supporting employees unable to work. As provinces relaxed certain public health restrictions, we reopened most of our retail stores throughout the fall, while implementing public health and safety measures. We also launched several community initiatives to support vulnerable Canadians during the pandemic, including partnerships with several organizations to provide digital lifelines to Canadians in need and a historic partnership with Food Banks Canada to support their largest ever food drive.</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">In the third quarter, live sports, which were suspended in March, resumed and allowed our broadcast teams to provide coverage to Canadians despite continued restricted attendance at live sports events. As public health restrictions were lifted to certain extents across the country, we maintained our focus on keeping our employees safe and our customers connected during this time. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">In late September, several Canadian provinces declared a second wave of COVID-19 had commenced and provinces have adjusted various restrictions, including mandatory closures of certain types of businesses and reduced limits on social gatherings. As an essential service, almost all our retail stores remained open to serve customers, even as lockdowns were reintroduced in certain areas in the fourth quarter. As the fourth quarter progressed, the second wave of COVID-19 accelerated, resulting in lower-than-normal consumer activity during key selling periods. While COVID-19 continues to have a significant worldwide impact, we remain confident we have the right team, a strong balance sheet, and the world-class networks that will allow us to get through the pandemic having maintained our long-term focus on growth and doing the right thing for our customers.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Our six company priorities guide our work and decision-making as we further improve our operational execution and make well-timed investments to grow our core businesses and deliver increased shareholder value. Below are some highlights from 2020.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">Create best-in-class customer experiences by putting our customers first in everything we do</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">Improved Wireless postpaid churn by 11 basis points to 1.00%.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">Accelerated our digital-first plan and added self-serve options during COVID-19, with overall digital adoption up 6 points to 84% and virtual assistant conversations up over 130%.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">Moved to 100% Canada-based customer care specialists and opened our Kelowna Customer Solution Centre virtually.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">Introduced an Ignite&#8482; self-installation program, including a Drop &#38; Go option, as a safe, easy, no-contact way for customers to install our </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">Ignite Internet</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8482; and </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">Ignite TV</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8482; services, with over 93% of customers choosing to easily install their products themselves since the beginning of April.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">Launched Express Pickup, the only national carrier to give customers the convenience of ordering online and picking up in-store on the same day&#59; expanded </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">Pro On-the-Go</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8482; to more cities across Canada, including Vancouver, Calgary, Edmonton,</font><font style="color:#1f1f1f;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%"> and </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Ottawa</font><font style="color:#1f1f1f;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#1f1f1f;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">Supported customers with goodwill measures at the onset of COVID-19 by waiving pay-per-use international roaming fees in all available destinations until April 30 and long distance voice calling fees across Canada until June 30.</font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.929%"><tr><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.234%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Rogers Communications Inc.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fourth Quarter 2020</font></td></tr><tr><td colspan="3" style="display:none"></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div style="text-align:justify"><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">Invest in our networks and technology to deliver leading performance and reliability</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">Launched and expanded Canada's first and largest 5G network to 160 cities and towns and started rolling out Canada&#8217;s first 5G standalone core network in Montreal, Ottawa, Toronto, and Vancouver to be ready to support future devices and chipsets as they become available.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">Named best wireless network in Canada for the second year in a row, in July, by umlaut, the global leader in mobile network benchmarking, earned the number one spot in the Canada Wireless Network Quality Study by J.D. Power in the West and Ontario, in April, and ranked most consistent national wireless and broadband Internet provider in Canada by Ookla, in November.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">Expanded our cable network through the acquisition of Cable Cable Inc. and Ruralwave Inc., local telecommunications companies in the Ontario Kawartha Lakes region, and announced partnerships with Southwestern Integrated Fibre Technology (SWIFT) to bring services to underserved communities in the Regional Municipality of Waterloo and Dufferin, Norfolk, Oxford, and Simcoe counties in Ontario.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">Started rolling out wireless home broadband Internet service to more than 100 communities in Southwestern Ontario as part of our commitment to expand connectivity to rural and remote areas.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">Strengthened our Advanced Services portfolio to help make it easier for businesses and governments to serve their customers and citizens, including with new Internet of Things (IoT) collaborations, and established the Rogers Internet of Things Chair with the University of Calgary to advance IoT research.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">Added capacity and managed traffic where needed to ensure customers stayed connected during COVID-19, with total traffic on our networks up by over 50% during the first months of COVID-19, as more people started working and studying from home.</font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">Deliver innovative solutions and compelling content that our customers will love</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">Launched Ignite&#8482; SmartStream&#8482;, an entertainment add-on for Ignite Internet&#8482; customers, to give customers access to their favourite streaming services in one place.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">Launched 14 new apps and subscription video on-demand services on Ignite TV and expanded free content on Ignite TV with the introduction of new apps, including Fun at Home and Health at Home, tubi, XITE, and zone-ify.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">Leveraged our media assets to advance inclusion and diversity, including a prime time special </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">Ending Racism&#58; What Will it Take&#63;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">, a new digital series </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">LIVE&#58; #Cityline Real on Race</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">, and a new Sportsnet interview series </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">Top of HER Game</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8482;.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">Delivered industry-leading coverage with the return of live sports, with Sportsnet&#8482; the most-watched network for all programming in Canada for key demographics and first overall in prime time in August.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">Launched access to Amazon Music on Ignite TV so customers can listen to their favourite music, as well as thousands of playlists and stations.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">Provided free access for our customers to a rotating selection of channels for a select period of time during COVID-19 and temporarily removed data usage caps for customers on limited home Internet plans so they could stream, surf, and connect during the initial phase of the pandemic.</font></div><div style="padding-left:18pt"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">Drive profitable growth in all the markets we serve</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">Expanded consolidated adjusted EBITDA margin by 90 basis points.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">Attracted 245,000 net Wireless postpaid subscribers, 57,000</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:700;line-height:120%"> </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">net Internet subscribers, and 218,000 net Ignite TV subscribers.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">Generated free cash flow of $2,366 million, up 4%.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">Maintained our focus on long-term strategic growth despite the short-term economic downturn.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">Develop our people and a high performance culture</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">Achieved an all-time high employee engagement score of 87% in our annual employee survey, up two points from 2019 and seven points above best-in-class.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">Received Canada&#8217;s Top 100 Employers Award for the eighth year in a row and reclaimed certification for Canada&#8217;s Most Admired Corporate Cultures in 2020.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">Delivered enhanced programs and employee communications to ensure employees were supported and informed during COVID-19, with 83% of teams reporting in our annual employee survey they felt supported on well-being &#38; work-life balance during the COVID-19 crisis.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">Extended our employee virtual health care solution in partnership with Sun Life until the end of the year to give employees and their families quick access to health care professionals during COVID-19.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">Launched a new five-year Inclusion and Diversity (I&#38;D) Strategy with measurable targets, including representation goals for equity-seeking groups across the business and at the executive level, and held 85 I&#38;D events and listening sessions through our Employee Resource Groups.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">Announced a $10 million commitment over the next five years in free advertising and creative services to charities and small businesses that support Black, Indigenous and People of Colour (BIPOC) and equity-seeking communities by leveraging our sports and media assets as part of our I&#38;D plan. </font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.929%"><tr><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.234%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Rogers Communications Inc.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fourth Quarter 2020</font></td></tr><tr><td colspan="3" style="display:none"></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div style="text-align:justify"><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">Be a strong, socially responsible leader in our communities across Canada</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">Partnered with Food Banks Canada (FBC) and Jays Care Foundation for </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">Step Up to the Plate</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">, using the </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">Rogers Centre</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8482; to store and sort provisions for the largest food hamper program in the organization&#8217;s history to distribute over eight million meals for Canadian families&#59; launched an awareness campaign across media and digital assets to raise money for FBC to address acute food shortages during COVID-19&#59; and donated more than one million meals through a corporate donation and employee contributions. </font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">Raised approximately $1 million through the Hearts and Smiles campaign in support of The Frontline Fund to help Canada&#8217;s frontline health care workers during COVID-19.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">Launched the 60,000 Hours Challenge as part of The 60 Project to mark our 60</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:6.17pt;font-weight:400;line-height:120%;position:relative;top:-3.32pt;vertical-align:baseline">th</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%"> anniversary in 2020, with employee volunteers supporting over 200 organizations.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">Donated $1 million to the Jays Care Foundation to deliver programs to support 35,000 youth across Canada, including virtual summer camps for 10,000 marginalized youth.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">Awarded scholarships, through the Ted Rogers Scholarship Fund, to over 400 young people to pursue post-secondary education, with an estimated 75% of community recipients from BIPOC communities.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">Partnered with The Salvation Army Canada to provide more than 1,600 digital donation units, a touchless giving option for Canadians to safely donate to the annual Christmas Kettle Campaign.</font></div><div style="text-align:justify"><font><br></font></div><div id="id133cfed770e469cb2e56b44a04d6fcf_7"></div><div><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:12pt;font-weight:700;line-height:120%">2020 Financial Guidance</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">In April 2020, due to the uncertainty surrounding the duration and potential outcomes of COVID-19, we withdrew the financial guidance originally issued on January 22, 2020. The impact on our operations and our financial results for the year has been material. Although COVID-19 has adversely impacted total service revenue and adjusted EBITDA in the short-term, we generated strong free cash flow, which will continue to remain a priority for us. See &#34;About Forward-Looking Information&#34; for more information on COVID-19, including the impacts it has had and may have on our business and the actions we are taking in response.</font></div><div style="text-align:justify"><font><br></font></div><div id="id133cfed770e469cb2e56b44a04d6fcf_10"></div><div><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:12pt;font-weight:700;line-height:120%">2021 Full-Year Consolidated Guidance</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Due to the continued uncertainty surrounding the duration and potential outcomes of COVID-19, we are unable at this time to predict the ongoing future impacts on our operations and financial results, but the impact in 2020 was material and could remain material in 2021. It is difficult at this time to reliably estimate our financial results for the full-year 2021. We will therefore not provide a financial outlook for 2021 unless and until such a time as we can make a reasonable estimate of our financial results for 2021. See &#34;About Forward-Looking Information&#34; for more information on COVID-19, including the impacts it has had and may have on our business and the actions we are taking in response.</font></div><div style="text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.929%"><tr><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.234%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Rogers Communications Inc.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fourth Quarter 2020</font></td></tr><tr><td colspan="3" style="display:none"></td></tr></table></div></div></div><div id="id133cfed770e469cb2e56b44a04d6fcf_16"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div style="text-align:justify"><font><br></font></div></div><div><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:12pt;font-weight:700;line-height:120%">About Rogers</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Rogers is a proud Canadian company dedicated to making more possible for Canadians each and every day. Our founder, Ted Rogers, purchased his first radio station, CHFI, in 1960. We have grown to become a leading technology and media company that strives to provide the very best in wireless, residential, sports, and media to Canadians and Canadian businesses. Our shares are publicly traded on the Toronto Stock Exchange (TSX&#58; RCI.A and RCI.B) and on the New York Stock Exchange (NYSE&#58; RCI).</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:12pt;font-weight:700;line-height:100%">Investment community contact</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:12pt;font-weight:700;line-height:100%">Media contact</font></td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Paul Carpino</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Andrew Garas</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">647.435.6470</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">647.242.7924</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">paul.carpino&#64;rci.rogers.com</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">andrew.garas&#64;rci.rogers.com</font></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div id="id133cfed770e469cb2e56b44a04d6fcf_19"></div><div><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Quarterly Investment Community Teleconference</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-top:2pt;text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Our fourth quarter 2020 results teleconference with the investment community will be held on&#58;</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">January&#160;28, 2021</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%"> </font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">8&#58;00 a.m. Eastern Time</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">webcast available at investors.rogers.com</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">media are welcome to participate on a listen-only basis</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">A rebroadcast will be available at investors.rogers.com for at least two weeks following the teleconference. Additionally, investors should note that from time to time, Rogers' management presents at brokerage-sponsored investor conferences. Most often, but not always, these conferences are webcast by the hosting brokerage firm, and when they are webcast, links are made available on Rogers' website at investors.rogers.com.</font></div><div style="text-align:justify"><font><br></font></div><div id="id133cfed770e469cb2e56b44a04d6fcf_22"></div><div><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:12pt;font-weight:700;line-height:120%">For More Information</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">You can find more information relating to us on our website (investors.rogers.com), on SEDAR (sedar.com), and on EDGAR (sec.gov), or you can e-mail us at investor.relations&#64;rci.rogers.com. Information on or connected to these and any other websites referenced in this earnings release is not part of, or incorporated into, this earnings release.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">You can also go to investors.rogers.com for information about our governance practices, corporate social responsibility reporting, a glossary of communications and media industry terms, and additional information about our business.</font></div><div style="text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.929%"><tr><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.234%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Rogers Communications Inc.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fourth Quarter 2020</font></td></tr><tr><td colspan="3" style="display:none"></td></tr></table></div></div></div><div id="id133cfed770e469cb2e56b44a04d6fcf_25"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div style="text-align:justify"><font><br></font></div></div><div><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:12pt;font-weight:700;line-height:120%">About this Earnings Release</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">This earnings release contains important information about our business and our performance for the three and twelve months ended December&#160;31, 2020, as well as forward-looking information about future periods. This earnings release should be used as preparation for reading our forthcoming Management's Discussion and Analysis (MD&#38;A) and Audited Consolidated Financial Statements for the year ended December&#160;31, 2020, which we intend to file with securities regulators in Canada and the US in the coming weeks. These documents will be made available at investors.rogers.com, sedar.com, and sec.gov or mailed upon request.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The financial information contained in this earnings release is prepared using International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board. This earnings release should be read in conjunction with our 2019 Annual MD&#38;A, our 2019 Audited Consolidated Financial Statements, our 2020 First, Second, and Third Quarter MD&#38;A and Interim Condensed Consolidated Financial Statements, and our other recent filings with Canadian and US securities regulatory authorities, which are available on SEDAR at sedar.com or EDGAR at sec.gov, respectively.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">We, us, our, Rogers, Rogers Communications, and the Company refer to Rogers Communications Inc. and its subsidiaries. RCI refers to the legal entity Rogers Communications Inc., not including its subsidiaries. Rogers also holds interests in various investments and ventures.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">All dollar amounts are in Canadian dollars unless otherwise stated and are unaudited. All percentage changes are calculated using the rounded numbers as they appear in the tables. Information is current as at January&#160;27, 2021 and was approved by RCI's Board of Directors (the Board). This earnings release includes forward-looking statements and assumptions. See &#34;About Forward-Looking Information&#34; for more information.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">We are publicly traded on the Toronto Stock Exchange (TSX&#58; RCI.A and RCI.B) and on the New York Stock Exchange (NYSE&#58; RCI).</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">In this earnings release, </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">this quarter</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">,</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%"> the quarter</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">, or</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%"> fourth quarter</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%"> refer to the three months ended December&#160;31, 2020, </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">first quarter</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%"> refers to the three months ended March 31, 2020, </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">second quarter</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%"> refers to the three months ended June 30, 2020, </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">third quarter</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%"> refers to the three months ended September 30, 2020, and </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">year to date</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%"> or </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">full-year</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%"> refer to the twelve months ended December&#160;31, 2020. All results commentary is compared to the equivalent periods in 2019 or as at December&#160;31, 2019, as applicable, unless otherwise indicated.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Effective January 1, 2020, we updated the key performance indicators we present for our Cable segment to align our external reporting with the focus of our internal business strategy as a result of the convergence of technologies used to deliver Internet and television services, including the continued adoption of Ignite TV. We have begun disclosing Cable average revenue per account (ARPA), customer relationships, and market penetration as defined below. Additionally, we have amended the definition of our subscriber counts for Television to include only Ignite TV and renamed the metric accordingly as a result of shifting our product offering to focus on IPTV. Finally, we have ceased reporting Phone subscribers and total service units as our Phone product is increasingly being bundled with our Internet and Television products for a very low incremental cost. These changes have been made to align our external disclosure with the focus of the business and our strategy.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8482;Rogers and related marks are trademarks of Rogers Communications Inc. or an affiliate, used under licence. All other brand names, logos, and marks are trademarks and&#47;or copyright of their respective owners. &#169;2021 Rogers Communications</font></div><div style="text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.929%"><tr><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.234%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Rogers Communications Inc.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fourth Quarter 2020</font></td></tr><tr><td colspan="3" style="display:none"></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div style="text-align:justify"><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Reportable segments</font></div><div style="margin-bottom:5pt;text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">We report our results of operations in three reportable segments. Each segment and the nature of its business is as follows&#58; </font></div><div style="margin-top:5pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:16.167%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:81.633%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Segment</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Principal activities</font></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Wireless</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Wireless telecommunications operations for Canadian consumers and businesses.</font></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Cable</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Cable telecommunications operations, including Internet, television, telephony (phone), and smart home monitoring services for Canadian consumers and businesses, and network connectivity through our fibre network and data centre assets to support a range of voice, data, networking, hosting, and cloud-based services for the business, public sector, and carrier wholesale markets.</font></div></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Media</font></div></td><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">A diversified portfolio of media properties, including sports media and entertainment, television and radio broadcasting, specialty channels, multi-platform shopping, and digital media.</font></div></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Wireless and Cable are operated by our wholly owned subsidiary, Rogers Communications Canada Inc. (RCCI), and certain of our other wholly owned subsidiaries. Media is operated by our wholly owned subsidiary, Rogers Media Inc., and its subsidiaries.</font></div><div style="text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.929%"><tr><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.234%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Rogers Communications Inc.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fourth Quarter 2020</font></td></tr><tr><td colspan="3" style="display:none"></td></tr></table></div></div></div><div id="id133cfed770e469cb2e56b44a04d6fcf_46"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div style="text-align:justify"><font><br></font></div></div><div><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Summary of Consolidated Financial Results</font></div><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.549%"><tr><td style="width:1.0%"></td><td style="width:42.942%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.100%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.100%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.100%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.554%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.100%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.100%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.104%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;&#160;</font></td><td colspan="9" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Three months ended December 31</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="9" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Twelve months ended December 31</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(In millions of dollars, except margins and per share amounts)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%&#160;Chg</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%&#160;Chg</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Revenue</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Wireless</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,291</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,493&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8,530</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,250&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cable</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,019</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">987&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,946</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,954&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Media</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">409</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">530&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(23)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,606</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,072&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(22)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Corporate items and intercompany eliminations</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(39)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(58)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(33)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(166)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(203)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(18)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Revenue</font></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,680</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,952&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7)</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">13,916</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15,073&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8)</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total service revenue </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">1</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,023</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,244&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">11,955</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12,965&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjusted EBITDA</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"> 2</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Wireless</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,034</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,064&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,067</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,345&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cable</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">520</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">497&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,935</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,919&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Media</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">82</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">22&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">n&#47;m</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">51</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">140&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(64)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Corporate items and intercompany eliminations</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(46)</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(53)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(13)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(196)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(192)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjusted EBITDA </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">2</font></div></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,590</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,530&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5,857</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,212&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6)</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjusted EBITDA margin</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"> 2</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">43.2</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">%</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">38.7&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.5&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;pts</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">42.1</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">%</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">41.2&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.9&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;pts</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net income</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">449</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">468&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,592</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,043&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(22)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Basic earnings per share</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$0.89</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$0.92&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$3.15</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$3.99&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(21)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Diluted earnings per share</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$0.89</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$0.92&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$3.13</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$3.97&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(21)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjusted net income</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"> 2</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">500</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">511&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,725</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,135&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(19)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjusted basic earnings per share</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"> 2</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$0.99</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$1.00&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$3.42</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$4.17&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(18)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><font 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colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Capital expenditures</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">656</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font 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style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Free cash flow </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">2</font></div></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">568</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 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style="margin-top:3pt;text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:120%">n&#47;m - not meaningful</font></div><div style="padding-left:4.5pt;text-align:justify;text-indent:-4.5pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">1&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:120%">As defined. 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See &#34;Non-GAAP Measures and Related Performance Measures&#34; for information about these measures, including how we calculate them and the ratios in which they are used.</font></div><div style="text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.929%"><tr><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.234%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Rogers Communications Inc.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">9</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fourth Quarter 2020</font></td></tr><tr><td colspan="3" style="display:none"></td></tr></table></div></div></div><div id="id133cfed770e469cb2e56b44a04d6fcf_49"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div style="text-align:justify"><font><br></font></div></div><div><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Results of our Reportable Segments</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">WIRELESS</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Wireless Financial Results</font></div><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.549%"><tr><td style="width:1.0%"></td><td style="width:42.942%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.100%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.100%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.100%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.554%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.100%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.100%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.104%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;&#160;</font></td><td colspan="9" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Three months ended December 31</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="9" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Twelve months ended December 31</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(In millions of dollars, except margins)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%&#160;Chg</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%&#160;Chg</font></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td 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1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Service revenue</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,637</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,788&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6,579</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,156&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Equipment revenue</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">654</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">705&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,951</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,094&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Revenue</font></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,291</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,493&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8)</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8,530</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,250&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8)</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Operating expenses</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cost of equipment</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">654</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">733&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(11)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,932</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,231&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(13)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other operating expenses</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">603</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">696&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(13)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,531</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,674&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Operating expenses</font></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,257</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,429&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(12)</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,463</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,905&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(9)</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjusted EBITDA</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,034</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,064&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,067</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,345&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:15.75pt;text-indent:-9pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjusted EBITDA service margin</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"> 1</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">63.2</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">%</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">59.5&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.7&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;pts</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">61.8</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">%</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">60.7&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.1&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;pts</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:15.75pt;text-indent:-9pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjusted EBITDA margin</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"> 2</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">45.1</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">%</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">42.7&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.4&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;pts</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">47.7</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">%</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">47.0&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.7&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;pts</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Capital expenditures</font></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">337</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">360&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6)</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #000000;border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,100</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,320&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(17)</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:3pt;padding-left:4.5pt;text-align:justify;text-indent:-4.5pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">1</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.87pt">Calculated using service revenue.</font></div><div style="padding-left:4.5pt;text-align:justify;text-indent:-4.5pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">2&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Calculated using total revenue.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Wireless Subscriber Results</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%"> </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">1</font></div><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.549%"><tr><td style="width:1.0%"></td><td style="width:42.942%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.100%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.100%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.100%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.554%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.100%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.100%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.104%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;&#160;</font></td><td colspan="9" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Three months ended December 31</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="9" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Twelve months ended December 31</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(In thousands, except churn, blended ABPU, and blended ARPU)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Chg</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Chg</font></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Postpaid</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Gross additions</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">458</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">483&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(25)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,381</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,566&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(185)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net additions</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">114</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">131&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(17)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">245</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">334&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(89)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:11.25pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total postpaid subscribers</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"> 2</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">9,683</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,438&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">245&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">9,683</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,438&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">245&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Churn (monthly)</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1.19</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">%</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.26&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(0.07&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;pts)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1.00</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">%</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.11&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(0.11&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;pts)</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Prepaid</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font 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Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(41)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">550</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">773&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(223)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net losses</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(40)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(76)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">36&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(142)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(97)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(45)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:11.25pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total prepaid subscribers</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"> 2</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,260</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,402&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(142)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,260</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,402&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(142)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Churn (monthly)</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4.31</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">%</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.58&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1.27&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;pts)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4.38</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">%</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.86&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(0.48&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;pts)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Blended ABPU (monthly)</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$62.82</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$66.17&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">($3.35)</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$63.24</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$66.23&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">($2.99)</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Blended ARPU (monthly)</font></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$50.02</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$55.26&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">($5.24)</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #000000;border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$50.75</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$55.49&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">($4.74)</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-top:3pt;padding-left:4.5pt;text-align:justify;text-indent:-4.5pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">1</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.87pt">Subscriber counts, subscriber churn, blended ABPU, and blended ARPU are key performance indicators. See &#34;Key Performance Indicators&#34;.</font></div><div style="padding-left:4.5pt;text-align:justify;text-indent:-4.5pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">2&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:120%">As at end of period.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Service revenue </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The 8% decrease in service revenue and the 9% decrease in blended ARPU this quarter were a result of&#58;</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">lower roaming revenue, due to global travel restrictions during COVID-19&#59; and</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">a decrease in overage revenue as a result of strong customer adoption of our Rogers Infinite unlimited data plans and lower wireless data usage as customers spent more time at home on WiFi during COVID-19.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The 5% decrease in blended ABPU this quarter was primarily a result of the declines in roaming and overage revenue, partially offset by an ongoing shift as subscribers finance new, higher-value device purchases.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The decrease in postpaid gross additions, the lower postpaid net additions, and the lower postpaid churn this quarter were all a result of the impacts of COVID-19, with overall lower market activity by Canadians.</font></div><div style="text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.929%"><tr><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.234%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Rogers Communications Inc.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fourth Quarter 2020</font></td></tr><tr><td colspan="3" style="display:none"></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div style="text-align:justify"><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Equipment revenue</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The 7% decrease in equipment revenue this quarter was a result of&#58;</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">lower gross additions due to COVID-19, and</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">lower device upgrades by existing customers&#59; partially offset by</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">the shift in product mix towards higher-value devices&#59; and</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">disciplined promotional activity during key selling periods.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Operating expenses </font></div><div><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">Cost of equipment</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The 11% decrease in the cost of equipment this quarter was a result of the same factors discussed in equipment revenue above. 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</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">various cost efficiencies and productivity initiatives.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Adjusted EBITDA</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The 3% decrease in adjusted EBITDA this quarter was a result of the revenue and expense changes discussed above.</font></div><div style="text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.929%"><tr><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.234%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Rogers Communications Inc.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">11</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fourth Quarter 2020</font></td></tr><tr><td colspan="3" style="display:none"></td></tr></table></div></div></div><div id="id133cfed770e469cb2e56b44a04d6fcf_52"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div style="text-align:justify"><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">CABLE</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Cable Financial Results</font></div><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.699%"><tr><td style="width:1.0%"></td><td style="width:43.026%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.086%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.086%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.086%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.553%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.086%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.086%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.091%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;&#160;</font></td><td colspan="9" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Three months ended December 31</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="9" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Twelve months ended December 31</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(In millions of dollars, except margins)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%&#160;Chg</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%&#160;Chg</font></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Revenue</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Service revenue</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,016</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">984&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,936</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,940&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Equipment revenue</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(29)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Revenue</font></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,019</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">987&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,946</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,954&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Operating expenses</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">499</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">490&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,011</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,035&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 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style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjusted EBITDA</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">520</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">497&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,935</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,919&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjusted EBITDA margin</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">51.0</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">%</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50.4&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.6&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;pts</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">49.0</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">%</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">48.5&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.5&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;pts</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Capital expenditures</font></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">227</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">289&#160;</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(21)</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #000;border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">940</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,153&#160;</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(18)</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Cable Subscriber Results </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">1</font></div><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.549%"><tr><td style="width:1.0%"></td><td style="width:42.942%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.100%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.100%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.100%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.554%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.100%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.100%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.104%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;&#160;</font></td><td colspan="9" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Three months ended December 31</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="9" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Twelve months ended December 31</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(In thousands, except ARPA and penetration)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Chg</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Chg</font></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Internet</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net additions</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">19</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">27&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">57</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">104&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(47)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:11.25pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total Internet subscribers</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"> 2,3,4</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,598</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,534&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">64&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,598</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,534&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">64&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ignite TV</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net additions</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">71</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">106&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(35)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">218</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">284&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(66)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:11.25pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total Ignite TV subscribers</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"> 2</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">544</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">326&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">218&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">544</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">326&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">218&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Homes passed </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">2</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,578</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,472&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">106&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,578</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,472&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">106&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Customer relationships</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net additions</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">11</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">21&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(9)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:11.25pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total customer relationships </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">2,3, 4</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,530</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,510&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,530</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,510&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">ARPA (monthly)</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$134.43</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$130.86&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$3.57&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 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Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">55.3</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">%</font></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">56.1&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 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style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">%</font></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">56.1&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(0.8&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;pts)</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-top:3pt;padding-left:4.5pt;text-align:justify;text-indent:-4.5pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">1</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.87pt">Subscriber results are key performance indicators. See &#34;Key Performance Indicators&#34;.</font></div><div style="padding-left:4.5pt;text-align:justify;text-indent:-4.5pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">2</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.87pt">As at end of period.</font></div><div style="padding-left:4.5pt;text-align:justify;text-indent:-4.5pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">3</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.87pt">On September 30, 2020, we acquired approximately 2,000 Internet subscribers and customer relationships as a result of our acquisition of Ruralwave Inc., which are not included in net additions, but do appear in the ending total balance for December 31, 2020.</font></div><div style="padding-left:4.5pt;text-align:justify;text-indent:-4.5pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">4</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.87pt">On October 1, 2020, we acquired approximately 5,000 Internet subscribers and 6,000 customer relationships as a result of our acquisition of Cable Cable Inc., which are not included in net additions, but do appear in the ending total balance for December 31, 2020.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Revenue</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The 3% increase in service revenue this quarter was a result of&#58;</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">a 3% increase in ARPA as a result of the movement of Internet customers from our legacy Internet to our Ignite Internet offerings and service pricing changes and discipline&#59; and</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">the increase in total customer relationships over the past year, due to growth in our Internet and Ignite TV subscriber bases&#59; partially offset by</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">declines in our legacy television and home phone subscriber bases.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">We remain focused on our Connected Home roadmap, driven by our Ignite TV product. During the past year, we have achieved significant growth in our Ignite TV subscriber base. The next steps on our roadmap include adding more apps and content to Ignite TV and launching more new products to help keep our customers connected.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Operating expenses</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The 2% increase in operating expenses this quarter was a result of higher costs related to the increased revenue, partially offset by various cost efficiencies.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.929%"><tr><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.234%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Rogers Communications Inc.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fourth Quarter 2020</font></td></tr><tr><td colspan="3" style="display:none"></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div style="text-align:justify"><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Adjusted EBITDA</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The 5% increase in adjusted EBITDA this quarter was a result of the service revenue and expense changes discussed above.</font></div><div style="text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:5pt;text-align:center"><table 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Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fourth Quarter 2020</font></td></tr><tr><td colspan="3" style="display:none"></td></tr></table></div></div></div><div id="id133cfed770e469cb2e56b44a04d6fcf_55"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div style="text-align:justify"><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">MEDIA</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Media Financial Results</font></div><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.699%"><tr><td style="width:1.0%"></td><td style="width:43.026%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.086%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.086%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.086%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.553%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.086%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.086%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.091%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;&#160;</font></td><td colspan="9" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Three months ended December 31</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="9" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Twelve months ended December 31</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(In millions of dollars, except margins)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%&#160;Chg</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%&#160;Chg</font></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Revenue</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">409</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">530&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" 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style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Rogers Communications Inc.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">14</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fourth Quarter 2020</font></td></tr><tr><td colspan="3" style="display:none"></td></tr></table></div></div></div><div id="id133cfed770e469cb2e56b44a04d6fcf_58"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div style="text-align:justify"><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">CAPITAL EXPENDITURES</font></div><div style="margin-top:8pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.699%"><tr><td style="width:1.0%"></td><td style="width:43.026%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.086%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.086%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.086%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.553%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.086%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.086%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.091%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;&#160;</font></td><td colspan="9" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Three months ended December 31</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="9" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Twelve months ended December 31</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(In millions of dollars, except capital intensity)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%&#160;Chg</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%&#160;Chg</font></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Wireless</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">337</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">360&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,100</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,320&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(17)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cable</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">227</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">289&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(21)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">940</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,153&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(18)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Media</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">36</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">46&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(22)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">79</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">102&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(23)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Corporate</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">56</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">96&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(42)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">193</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">232&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(17)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Capital expenditures </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">1</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">656</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">791&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(17)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,312</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,807&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(18)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Capital intensity</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"> 2</font></div></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">17.8</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">%</font></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20.0&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2.2&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;pts)</font></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #000000;border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">16.6</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">%</font></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18.6&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2.0&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;pts)</font></td></tr></table></div><div style="margin-top:3pt;padding-left:4.5pt;text-align:justify;text-indent:-4.5pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">1&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Includes additions to property, plant and equipment net of proceeds on disposition, but does not include expenditures for spectrum licences or additions to right-of-use assets.</font></div><div style="padding-left:4.5pt;text-indent:-4.5pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">2&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:120%">As defined. See &#34;Key Performance Indicators&#34;.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Consolidated capital expenditures have declined by 17% this quarte</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9pt;font-weight:400;line-height:120%">r. Most of this decline has been a result of fewer residential installations, lower costs given the introduction of self-install in our Cable business, deferrals of certain projects that have been delayed as a result of the pandemic, and overall cost efficiencies as evidenced by our improving capital intensity ratios. Despite the overall decline, we continue to prioritize capital spending to support our long-term strategy, including expansion of our 5G network and our Connected Home roadmap.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Wireless</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Capital expenditures in Wireless this quarter, while lower than in 2019, reflect continued investments in our networks. We continued to work on our 5G deployments in the 600 MHz band and other bands as we have deployed our 5G network in 160 cities and towns and we started rolling out our 5G standalone core network in Montreal, Ottawa, Toronto, and Vancouver.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Cable</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The decrease in capital expenditures in Cable this quarter was a result of lower residential installation activity during the pandemic and the recognition of capital efficiencies and improved capital intensity as we prioritized network infrastructure projects, including additional fibre deployments to increase our fibre-to-the-home and fibre-to-the-curb distribution. 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Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8482;, partially offset by an increase in IT and broadcast infrastructure expenditures. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Corporate</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The decrease in corporate capital expenditures this quarter was a result of lower investments in our real estate facilities.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Capital intensity</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Capital intensity decreased this quarter as a result of lower capital expenditures partially offset by lower revenue, as discussed above.</font></div><div style="text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.929%"><tr><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.234%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Rogers Communications Inc.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">15</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fourth Quarter 2020</font></td></tr><tr><td colspan="3" style="display:none"></td></tr></table></div></div></div><div id="id133cfed770e469cb2e56b44a04d6fcf_61"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div style="text-align:justify"><font><br></font></div></div><div><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Review of Consolidated Performance</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">This section discusses our consolidated net income and other income and expenses that do not form part of the segment discussions above.</font></div><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.699%"><tr><td style="width:1.0%"></td><td style="width:43.026%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.086%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.086%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.086%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.553%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.086%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.086%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.091%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;&#160;</font></td><td colspan="9" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Three months ended December 31</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="9" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted 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Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%&#160;Chg</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%&#160;Chg</font></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjusted EBITDA </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">1</font></div></td><td colspan="2" style="padding:2px 0 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1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5,857</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,212&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deduct (add)&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:20.25pt;text-indent:-9pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Depreciation and amortization</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">666</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">638&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid 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colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Restructuring, acquisition and other</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">73</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">38&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">92&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">185</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">139&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">33&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Finance costs</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">228</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">230&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">881</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">840&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other expense (income)</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(12)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">n&#47;m</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(10)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">n&#47;m</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Income tax expense</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">172</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">168&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">580</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">712&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(19)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net income</font></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">449</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">468&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #000000;border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,592</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,043&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(22)</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:3pt;padding-left:4.5pt;text-align:justify;text-indent:-4.5pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">1&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Adjusted EBITDA is a non-GAAP measure and should not be considered a substitute or alternative for GAAP measures. It is not a defined term under IFRS and does not have a standard meaning, so may not be a reliable way to compare us to other companies. See &#34;Non-GAAP Measures and Related Performance Measures&#34; for information about this measure, including how we calculate it.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Depreciation and amortization</font></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.699%"><tr><td style="width:1.0%"></td><td style="width:43.026%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.086%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.086%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.086%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.553%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.086%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.086%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.091%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;&#160;</font></td><td colspan="9" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Three months ended December 31</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="9" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Twelve months ended December 31</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(In millions of dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%&#160;Chg</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%&#160;Chg</font></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Depreciation of property, plant and equipment</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">605</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">588&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,390</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,297&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Depreciation of right-of-use assets</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">58</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">47&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">23&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">217</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">175&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">24&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Amortization</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">11</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(31)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total depreciation and amortization</font></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">666</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">638&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #000000;border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,618</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,488&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Total depreciation and amortization increased this quarter primarily as a result of the cumulative impact of higher capital expenditures and additions to right-of-use assets over the past several years. See &#34;Capital Expenditures&#34; for more information.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Restructuring, acquisition and other</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">This quarter, we incurred $73 million (2019 - $38 million), in restructuring, acquisition and other expenses. In 2020, these costs were incremental, temporary employee compensation and other costs incurred in response to COVID-19 as well as severance costs associated with the targeted restructuring of our employee base. 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style="width:1.0%"></td><td style="width:8.086%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.086%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.091%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;&#160;</font></td><td colspan="9" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Three months ended December 31</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="9" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font 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style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%&#160;Chg</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%&#160;Chg</font></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest on borrowings</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"> 1</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">195</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">192&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">780</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">746&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest on lease liabilities</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">18</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">70</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">61&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest on post-employment benefits liability</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">13</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Loss on repayment of long-term debt</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(100)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(100)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Gain) loss on foreign exchange</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(8)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(27)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(70)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">107</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(79)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">n&#47;m</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Change in fair value of derivative instruments</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">16</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">26&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(38)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(97)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">80&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">n&#47;m</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Capitalized interest</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(4)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(20)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(19)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(19)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">60&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">27</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">21&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">29&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total finance costs</font></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">228</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">230&#160;</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #000;border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">881</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">840&#160;</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:3pt;text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">1</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Interest on borrowings includes interest on short-term borrowings and on long-term debt. </font></div><div style="text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.929%"><tr><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.234%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Rogers Communications Inc.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">16</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fourth Quarter 2020</font></td></tr><tr><td colspan="3" style="display:none"></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div style="text-align:justify"><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Income tax expense</font></div><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.849%"><tr><td style="width:1.0%"></td><td style="width:42.208%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.884%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.884%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.551%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.884%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.889%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;&#160;</font></td><td colspan="6" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Three months ended December 31</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="6" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Twelve months ended December 31</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(In millions of dollars, except tax rates)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</font></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Statutory income tax rate</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">26.6</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">%</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">26.7&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">26.6</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">%</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">26.7&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Income before income tax expense</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">621</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">636&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,172</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,755&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Computed income tax expense</font></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">165</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">170&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">578</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">736&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:15.75pt;text-indent:-9pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Increase (decrease) in income tax expense resulting from&#58;</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-deductible stock-based compensation</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-deductible portion of equity losses</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Income tax adjustment, legislative tax change</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(3)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(3)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(23)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-taxable portion of capital gains</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other items</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(5)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total income tax expense</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">172</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">168&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">580</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">712&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Effective income tax rate</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">27.7</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">%</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">26.4&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">26.7</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">%</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25.8&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash income taxes paid</font></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">175</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">55&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #000000;border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">418</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">400&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Cash income taxes increased this quarter as a result of the timing of installment payments. Our transition to a device financing business model results in earlier recognition of equipment revenue for income tax purposes. 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style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.086%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.086%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.091%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;&#160;</font></td><td colspan="9" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Three months ended December 31</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="9" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Twelve months ended December 31</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(In millions of dollars, except per share amounts)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%&#160;Chg</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%&#160;Chg</font></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net income</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">449</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">468&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,592</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,043&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(22)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Basic earnings per share</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$0.89</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$0.92&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$3.15</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$3.99&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(21)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Diluted earnings per share</font></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$0.89</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$0.92&#160;</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #000;border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$3.13</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$3.97&#160;</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(21)</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Adjusted net income</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">We calculate adjusted net income from adjusted EBITDA as follows&#58;</font></div><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.699%"><tr><td style="width:1.0%"></td><td style="width:43.026%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.086%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.086%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.086%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.553%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.086%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.086%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.091%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;&#160;</font></td><td colspan="9" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Three months ended December 31</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="9" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Twelve months ended December 31</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(In millions of dollars, except per share amounts)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%&#160;Chg</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%&#160;Chg</font></td></tr><tr style="height:11pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjusted EBITDA</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"> 1</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,590</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,530&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5,857</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,212&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deduct&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Depreciation and amortization</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">666</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">638&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,618</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,488&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:11.25pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Finance costs </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">2</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">228</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">211&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">881</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted 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Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(10)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">n&#47;m</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:11.25pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Income tax expense</font><font style="color:#000000;font-family:'Ted 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Next',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Adjusted EBITDA and adjusted net income are non-GAAP measures and should not be considered substitutes or alternatives for GAAP measures. These are not defined terms under IFRS and do not have standard meanings, so may not be a reliable way to compare us to other companies. See &#34;Non-GAAP Measures and Related Performance Measures&#34; for information about these measures, including how we calculate them and the ratios in which they are used.</font></div><div style="padding-left:4.5pt;text-align:justify;text-indent:-4.5pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">2</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Finance costs exclude a $19 million loss on repayment of long-term debt for the three and twelve months ended December 31, 2019.</font></div><div style="padding-left:4.5pt;text-align:justify;text-indent:-4.5pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">3&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Income tax expense excludes recoveries of $19 million and $49 million (2019 - recoveries of $14 million and $43 million) for the three and twelve months ended December&#160;31, 2020, respectively, related to the income tax impact for adjusted items. 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Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Rogers Communications Inc.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">17</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fourth Quarter 2020</font></td></tr><tr><td colspan="3" style="display:none"></td></tr></table></div></div></div><div id="id133cfed770e469cb2e56b44a04d6fcf_64"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div style="text-align:justify"><font><br></font></div></div><div><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Managing our Liquidity and Financial Resources</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Operating, investing, and financing activities</font></div><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.699%"><tr><td style="width:1.0%"></td><td style="width:42.122%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.906%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.906%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.553%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.906%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.907%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;&#160;</font></td><td colspan="6" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Three months ended December 31</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="6" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Twelve months ended December 31</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(In millions of dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt 2px 16.75pt;text-align:left;text-indent:-9pt;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash provided by operating activities before changes in net operating assets and liabilities, income taxes paid, and interest paid</font></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,581</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,521&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5,880</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,167&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:11.25pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Change in net operating assets and liabilities </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">1</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(265)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(102)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(333)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(462)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Income taxes paid</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(175)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(55)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(418)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(400)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest paid</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(194)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(198)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(808)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(779)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash provided by operating activities</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">947</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,166&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,321</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,526&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Investing activities&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Capital expenditures</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(656)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(791)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2,312)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,807)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Additions to program rights</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(12)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(31)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(57)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(60)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:20.25pt;text-indent:-9pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Changes in non-cash working capital related to capital expenditures and intangible assets</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">97</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">109&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(37)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(35)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:20.25pt;text-indent:-9pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Acquisitions and other strategic transactions, net of cash acquired</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(95)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(103)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,731)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">11</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(49)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">21&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash used in investing activities</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(655)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(693)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2,558)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4,612)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Financing activities&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 21.25pt;text-align:left;text-indent:-9pt;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net proceeds received from (repayments of) short-term borrowings</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">256</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">553&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,146)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 21.25pt;text-align:left;text-indent:-9pt;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net (repayment) issuance of long-term debt</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(92)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,540</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,184&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 21.25pt;text-align:left;text-indent:-9pt;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net proceeds (payments) on settlement of debt derivatives and forward contracts</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">80</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(121)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Principal payments of lease liabilities </font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(58)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(43)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(213)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(167)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transaction costs incurred</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(28)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(23)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(61)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Repurchase of Class B Non-Voting Shares</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(361)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(655)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Dividends paid</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(253)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(256)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,011)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,016)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(19)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(19)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash (used in) provided by financing activities</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(56)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(241)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">227</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">175&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Change in cash and cash equivalents</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">236</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">232&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,990</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">89&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash and cash equivalents, beginning of period</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,248</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">262&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">494</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">405&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash and cash equivalents, end of period</font></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,484</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">494&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #000000;border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,484</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">494&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:3pt;padding-left:4.5pt;text-align:justify;text-indent:-4.5pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">1&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:120%">As a result of the growth of our financing receivable program and the ways in which we manage our business, effective this quarter and retroactively, we have reclassified the &#34;net change in contract asset balances&#34; and the &#34;net change in financing receivable balances&#34; into &#34;change in net operating assets and liabilities&#34;. Additionally, certain 2019 reported figures have been reclassified to conform to the current presentation.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Operating activities</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The 19% decrease in cash provided by operating activities this quarter was primarily a result of higher investments in net operating assets and liabilities due to timing, as well as higher income taxes paid. For the year, our net investment in net operating assets and liabilities was lower than in 2019.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Investing activities</font></div><div><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">Capital expenditures</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">During the quarter, we incurred $656 million on capital expenditures before changes in non-cash working capital items. See &#34;Capital Expenditures&#34; for more information.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Financing activities</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">During the quarter, we received net amounts of $255 million (2019 - received $438 million), on our short-term borrowings, long-term debt, and related derivatives, net of transaction costs paid. See &#34;Financial Risk Management&#34; for more information on the cash flows relating to our derivative instruments.</font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.929%"><tr><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.234%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Rogers Communications Inc.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">18</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fourth Quarter 2020</font></td></tr><tr><td colspan="3" style="display:none"></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div style="text-align:justify"><font><br></font></div></div><div><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">Short-term borrowings</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Our short-term borrowings consist of amounts outstanding under our receivables securitization program and under our US dollar-denominated commercial paper (US CP) program. Below is a summary of our short-term borrowings as at December&#160;31, 2020 and December 31, 2019.</font></div><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.849%"><tr><td style="width:1.0%"></td><td style="width:70.930%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.884%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.886%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">As at<br>December 31</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">As at<br>December&#160;31</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(In millions of dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</font></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 16.75pt;text-align:left;text-indent:-9pt;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receivables securitization program</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">650</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">650&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 16.75pt;text-align:left;text-indent:-9pt;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">US commercial paper program (net of the discount on issuance)</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">571</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,588&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:15.75pt;text-indent:-9pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total short-term borrowings</font></div></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,221</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,238&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The tables below summarize the activity relating to our short-term borrowings for the three and twelve months ended December&#160;31, 2020 and 2019.</font></div><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:44.395%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.059%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.758%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.758%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.550%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.059%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.758%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.763%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="6" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Three months ended December 31, 2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="6" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Twelve months ended December 31, 2020</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(In millions of dollars, except exchange rates)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Notional</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(US$)</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Exchange</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">rate</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Notional</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Cdn$)</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Notional<br>(US$)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Exchange<br>rate</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Notional<br>(Cdn$)</font></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Proceeds received from US commercial paper</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">200</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1.280</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">256</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,316</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1.329</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,406</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Repayment of US commercial paper</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(4,098)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1.355</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(5,552)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt 2px 16.75pt;text-align:left;text-indent:-9pt;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net proceeds received from (repayment of) US commercial paper</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">256</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,146)</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 16.75pt;text-align:left;text-indent:-9pt;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net proceeds received from (repayment of) short-term borrowings</font></td><td colspan="3" style="border-bottom:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">256</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000000;border-left:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,146)</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:44.395%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.059%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.758%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.758%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.550%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.059%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.758%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.763%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="6" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Three months ended December 31, 2019</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="6" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Twelve months ended December 31, 2019</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(In millions of dollars, except exchange rates)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Notional</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(US$)</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Exchange</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">rate</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Notional</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Cdn$)</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Notional<br>(US$)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Exchange<br>rate</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Notional<br>(Cdn$)</font></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Proceeds received from US commercial paper</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,851&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.321&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,766&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12,897&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.328&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17,127&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Repayment of US commercial paper</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,430)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.322&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,213)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(12,876)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.328&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(17,094)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net proceeds received from US commercial paper</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">553&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">33&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Proceeds received from credit facilities</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">420&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.336&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">561&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Repayment of credit facilities</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(420)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.343&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(564)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:15.75pt;text-indent:-9pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net repayment of credit facilities</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net proceeds received from short-term borrowings</font></td><td colspan="3" style="border-bottom:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">553&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000000;border-left:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Concurrent with our US CP issuances, we entered into debt derivatives to hedge the foreign currency risk associated with the principal and interest components of the borrowings. See &#34;Financial Risk Management&#34; for more information.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">Receivables securitization program</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">On December 23, 2020, we entered into a new receivables securitization program to replace our previous accounts receivable securitization program. The new program enables us to sell certain trade accounts receivable and financing receivables into the program, with the proceeds recorded in current liabilities as revolving floating rate loans of up to $1.2 billion, an increase from $1.05 billion in the previous program. Similar to the previous program, we will continue to service the receivables and they will continue to be recorded as accounts receivable or financing receivables, as applicable, on our Consolidated Statement of Financial Position.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The terms of our receivables securitization program are committed until its expiry on December 22, 2023. Initial funding of $650 million was available on December 23, 2020 and will increase to a minimum of $800 million on January 25, 2021. The buyer&#8217;s interest in these receivables ranks ahead of our interest. The buyer of our receivables has no further claim on any of our other assets.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.929%"><tr><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.234%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Rogers Communications Inc.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">19</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fourth Quarter 2020</font></td></tr><tr><td colspan="3" style="display:none"></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div style="text-align:justify"><font><br></font></div></div><div><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">Long-term debt</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Our long-term debt consists of amounts outstanding under our bank credit facilities and the senior notes and debentures we have issued. The tables below summarize the activity relating to our long-term debt for the three and twelve months ended December&#160;31, 2020 and 2019.</font></div><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.549%"><tr><td style="width:1.0%"></td><td style="width:43.545%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.100%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.100%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.798%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.554%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.100%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.100%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.803%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="6" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Three months ended December 31, 2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="6" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Twelve months ended December 31, 2020</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(In millions of dollars, except exchange rates)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Notional<br>(US$)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Exchange<br>rate</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Notional<br>(Cdn$)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Notional<br>(US$)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Exchange<br>rate</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Notional<br>(Cdn$)</font></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Credit facility borrowings (US$)</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">970</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1.428</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,385</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Credit facility repayments (US$)</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(970)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1.406</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,364)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net borrowings under credit facilities</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">21</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Senior note issuances (Cdn$)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,500</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Senior note issuances (US$)</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">750</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1.359</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,019</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net issuance of senior notes</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,519</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net issuance of long-term debt</font></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000000;border-left:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,540</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.549%"><tr><td style="width:1.0%"></td><td style="width:43.545%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.100%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.100%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.798%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.554%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.100%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.100%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.803%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="6" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Three months ended December 31, 2019</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="6" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Twelve months ended December 31, 2019</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(In millions of dollars, except exchange rates)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Notional<br>(US$)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Exchange<br>rate</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Notional<br>(Cdn$)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Notional<br>(US$)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Exchange<br>rate</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Notional<br>(Cdn$)</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Senior note issuances (Cdn$)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Senior note issuances (US$)</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.308&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,308&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,250&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.326&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,984&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total senior note issuances</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,308&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,984&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Senior note repayments (Cdn$)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,400)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,800)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #6d6d6d;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #6d6d6d;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #6d6d6d;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #6d6d6d;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #6d6d6d;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #6d6d6d;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #6d6d6d;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #6d6d6d;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net (repayment) issuance of long-term debt</font></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(92)</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000000;border-left:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,184&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.849%"><tr><td style="width:1.0%"></td><td style="width:50.027%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.930%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.930%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.551%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.930%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.932%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="6" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Three months ended December 31</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="6" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Twelve months ended December 31</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(In millions of dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</font></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:15.75pt;text-indent:-9pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Long-term debt net of transaction costs, beginning of period</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">18,747</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16,279&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">15,967</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14,290&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net issuance (repayment) of long-term debt</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(92)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,540</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,184&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Gain on foreign exchange</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(550)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(195)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(298)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(458)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deferred transaction costs incurred</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(28)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(23)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(61)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Amortization of deferred transaction costs</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">15</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Long-term debt net of transaction costs, end of period</font></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">18,201</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15,967&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #000000;border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">18,201</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15,967&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">Issuance of senior notes and related debt derivatives</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">In November 2019, we issued US$1 billion senior notes due 2049 at a rate of 3.7%. At the same time, we entered into debt derivatives to convert all interest and principal payment obligations to Canadian dollars at a fixed interest rate. As a result, we received net proceeds of $1.3 billion from the issuance. We did not issue any senior notes this quarter.</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">Repayment of senior notes and related derivative settlements</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">We did not repay any senior notes or settle any related debt derivatives this quarter. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">In November 2019, we repaid the entire outstanding principal amount of our $900 million 4.7% senior notes otherwise due in September 2020 for which we recognized a $19 million loss on repayment of long-term debt reflecting our obligation to pay redemption premiums upon repayment. We also repaid the entire outstanding principal amount of our $500 million 5.38% senior notes, which came due in November 2019. There were no derivatives associated with these senior notes.</font></div><div><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.929%"><tr><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.234%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Rogers Communications Inc.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">20</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fourth Quarter 2020</font></td></tr><tr><td colspan="3" style="display:none"></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div style="text-align:justify"><font><br></font></div></div><div><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">Repurchase of Class B Non-Voting Shares</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">We did not repurchase any RCI Class B Non-Voting common shares (Class B Non-Voting Shares) this quarter or year. During the three months ended December 31, 2019, we repurchased for cancellation 5.6 million Class B Non-Voting Shares under our normal course issuer bid (NCIB) program for a purchase price of $357 million. During 2019, we repurchased for cancellation 9.9 million Class B Non-Voting Shares under our NCIB programs for a total purchase price of $655 million.</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">Dividends</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Below is a summary of the dividends we declared and paid on our outstanding RCI Class A Voting common shares (Class A Shares) and Class B Non-Voting Shares in 2020 and 2019. On October 21, 2020, the Board of Directors declared a dividend of $0.50 per Class A Share and Class B Non-Voting Share to be paid on January 4, 2021 to shareholders of record on December 10, 2020.</font></div><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.699%"><tr><td style="width:1.0%"></td><td style="width:18.779%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.930%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.930%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.930%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.931%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Declaration date</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Record date</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Payment date</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Dividend&#160;per</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">share&#160;(dollars)</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Dividends&#160;paid</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(in&#160;millions&#160;of&#160;dollars)</font></div></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">January 21, 2020</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">March 10, 2020</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">April 1, 2020</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.50&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">252&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">April 21, 2020</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">June 10, 2020</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">July 2, 2020</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.50&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">253&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">July 21, 2020</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">September 9, 2020</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">October 1, 2020</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.50&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">253&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">October 21, 2020</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">December 10, 2020</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">January 4, 2021</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.50&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">252&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">January 24, 2019</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">March 12, 2019</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">April 1, 2019</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.50&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">257&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">April 18, 2019</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">June 10, 2019</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">July 2, 2019</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.50&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">256&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">June 5, 2019</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">September 9, 2019</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">October 1, 2019</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.50&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">256&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">October 23, 2019</font></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">December 11, 2019</font></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">January 2, 2020</font></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.50&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">253&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Free cash flow</font></div><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.699%"><tr><td style="width:1.0%"></td><td style="width:43.026%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.086%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.086%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.086%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.553%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.086%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.086%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.091%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;&#160;</font></td><td colspan="9" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Three months ended December 31</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="9" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Twelve months ended December 31</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(In millions of dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%&#160;Chg</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%&#160;Chg</font></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjusted EBITDA </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">1</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,590</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,530&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5,857</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,212&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deduct&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:11.25pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Capital expenditures</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"> 2</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">656</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">791&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(17)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,312</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,807&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(18)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest on borrowings, net of capitalized interest</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">191</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">187&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">761</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">727&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:11.25pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash income taxes</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"> 3</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">175</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">55&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">n&#47;m</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">418</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">400&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Free cash flow </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">1</font></div></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">568</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">497&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #000000;border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,366</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,278&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:3pt;padding-left:4.5pt;text-align:justify;text-indent:-4.5pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">1&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Adjusted EBITDA and free cash flow are non-GAAP measures and should not be considered substitutes or alternatives for GAAP measures. These are not defined terms under IFRS and do not have standard meanings, so may not be a reliable way to compare us to other companies. See &#34;Non-GAAP Measures and Related Performance Measures&#34; for information about these measures, including how we calculate them and the ratios in which they are used.</font></div><div style="padding-left:4.5pt;text-align:justify;text-indent:-4.5pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">2&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Includes additions to property, plant and equipment net of proceeds on disposition, but does not include expenditures for spectrum licences or additions to right-of-use assets.</font></div><div style="padding-left:4.5pt;text-align:justify;text-indent:-4.5pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">3&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Cash income taxes are net of refunds received.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Free cash flow increased this quarter primarily as a result of higher adjusted EBITDA and lower capital expenditures, partially offset by higher cash income taxes.</font></div><div style="text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.929%"><tr><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.234%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Rogers Communications Inc.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">21</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fourth Quarter 2020</font></td></tr><tr><td colspan="3" style="display:none"></td></tr></table></div></div></div><div id="id133cfed770e469cb2e56b44a04d6fcf_73"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div style="text-align:justify"><font><br></font></div></div><div><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Financial Condition</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Below is a summary of our total available liquidity under our cash and cash equivalents, bank credit facilities, letter of credit facilities, and short-term borrowings as at December&#160;31, 2020 and December 31, 2019.</font></div><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.849%"><tr><td style="width:1.0%"></td><td style="width:28.975%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.884%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.884%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.884%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.884%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.889%"></td><td style="width:0.1%"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">As at December 31, 2020</font></td><td colspan="3" rowspan="2" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total available</font></td><td colspan="3" rowspan="2" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Drawn</font></td><td colspan="3" rowspan="2" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Letters of credit</font></td><td colspan="3" rowspan="2" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">US CP program</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"> 1</font></div></td><td colspan="3" rowspan="2" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net available</font></td></tr><tr style="height:12pt"><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(In millions of dollars)</font></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bank credit facilities&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Revolving</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,200&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">573&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,619</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Outstanding letters of credit</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">101&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">101&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total bank credit facilities</font></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,301&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">109&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">573&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,619</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receivables securitization</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,200&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">650&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">550</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash and cash equivalents</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,484&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,484</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total</font></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,985&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">650&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">109&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">573&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5,653</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.699%"><tr><td style="width:1.0%"></td><td style="width:28.869%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.906%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.906%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.906%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.906%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.907%"></td><td style="width:0.1%"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">As at December 31, 2019</font></td><td colspan="3" rowspan="2" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total available</font></td><td colspan="3" rowspan="2" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Drawn</font></td><td colspan="3" rowspan="2" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Letters of credit</font></td><td colspan="3" rowspan="2" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">US CP program</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"> 1</font></div></td><td colspan="3" rowspan="2" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net available</font></td></tr><tr style="height:12pt"><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(In millions of dollars)</font></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bank credit facilities&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Revolving</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,200&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,593&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,599&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Outstanding letters of credit</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">101&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">101&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total bank credit facilities</font></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,301&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">109&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,593&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,599&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receivables securitization</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,050&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">650&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">400&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash and cash equivalents</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">494&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">494&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total</font></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,845&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">650&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">109&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,593&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,493&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:3pt;padding-left:4.5pt;text-align:justify;text-indent:-4.5pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">1&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:120%">The US CP program amounts are gross of the discount on issuance.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">In addition to the sources of available liquidity noted above, we held $1,535 million of marketable securities in publicly traded companies as at December&#160;31, 2020 (December&#160;31, 2019 - $1,831 million).</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">Weighted average cost of borrowings</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Our weighted average cost of borrowings was 4.09% as at December&#160;31, 2020 (December&#160;31, 2019 - 4.30%) and our weighted average term to maturity was 12.8 years (December&#160;31, 2019 - 14.1 years). </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Credit ratings</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Below is a summary of the credit ratings on RCI's outstanding senior notes and debentures (long-term) and US CP (short-term) as at December&#160;31, 2020.</font></div><div style="margin-top:5pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.699%"><tr><td style="width:1.0%"></td><td style="width:27.966%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:22.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:22.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:22.546%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Issuance</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Standard &#38; Poor's</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Moody's</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fitch </font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Corporate credit issuer default rating </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">1</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BBB+ with a stable outlook</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Baa1 with a stable outlook</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BBB+ with a stable outlook</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Senior unsecured debt </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">1</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BBB+ with a stable outlook</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Baa1 with a stable outlook</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BBB+ with a stable outlook</font></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">US commercial paper </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">1</font></div></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">A-2</font></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">P-2</font></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">N&#47;A </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">2</font></div></td></tr></table></div><div style="margin-top:3pt;padding-left:4.5pt;text-align:justify;text-indent:-4.5pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">1</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.87pt">Unchanged in the quarter.</font></div><div style="padding-left:4.5pt;text-align:justify;text-indent:-4.5pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">2</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.87pt">We have not sought a rating from Fitch for our short-term obligations.</font></div><div style="text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.929%"><tr><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.234%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Rogers Communications Inc.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">22</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fourth Quarter 2020</font></td></tr><tr><td colspan="3" style="display:none"></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div style="text-align:justify"><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Adjusted net debt and debt leverage ratio</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">We use adjusted net debt and debt leverage ratio to conduct valuation-related analysis and make capital structure-related decisions. Adjusted net debt includes long-term debt, net debt derivative assets or liabilities, short-term borrowings, lease liabilities, and cash and cash equivalents or bank advances.</font></div><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.849%"><tr><td style="width:1.0%"></td><td style="width:70.930%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.884%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:12.886%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">As at<br>December 31</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">As at<br>December&#160;31</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(In millions of dollars, except ratios)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</font></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Long-term debt </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">1</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">18,373</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16,130&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:18pt;text-indent:-9pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net debt derivative assets valued without any adjustment for credit risk </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">2</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,101)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,414)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Short-term borrowings</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,221</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,238&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Lease liabilities</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,835</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,725&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;text-indent:9pt;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash and cash equivalents</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2,484)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(494)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjusted net debt</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"> 3</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">17,844</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18,185&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Divided by&#58; trailing 12-month adjusted EBITDA</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"> 3</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5,857</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,212&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Debt leverage ratio</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"> 3</font></div></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3.0</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.9&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-top:3pt;padding-left:4.5pt;text-align:justify;text-indent:-4.5pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">1</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.87pt">Includes current and long-term portion of long-term debt before deferred transaction costs and discounts. See &#34;Reconciliation of adjusted net debt and debt leverage ratio&#34; in &#34;Non-GAAP Measures and Related Performance Measures&#34; for the calculation of this amount.</font></div><div style="padding-left:4.5pt;text-align:justify;text-indent:-4.5pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">2</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.87pt">For purposes of calculating adjusted net debt and debt leverage ratio, we believe including debt derivatives valued without adjustment for credit risk is commonly used to evaluate debt leverage and for market valuation and transactional purposes.</font></div><div style="padding-left:4.5pt;text-align:justify;text-indent:-4.5pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">3</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.87pt">Adjusted net debt and adjusted EBITDA are non-GAAP measures and should not be considered substitutes or alternatives for GAAP measures. These are not defined terms under IFRS and do not have standard meanings, so may not be a reliable way to compare us to other companies. See &#34;Non-GAAP Measures and Related Performance Measures&#34; for information about these measures, including how we calculate them and the ratios in which they are used.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Normal course issuer bid</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">In April 2020, the TSX accepted a notice of our intention to commence a NCIB program that allows us to purchase, during the twelve-month period beginning April 24, 2020 and ending April 23, 2021, the lesser of 34.9 million Class B Non-Voting Shares and that number of Class B Non-Voting Shares that can be purchased for an aggregate purchase price of $500 million (2020 NCIB). Rogers security holders may obtain a copy of this notice, without charge, by contacting us. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">In April 2019, we commenced a NCIB program that allowed us to purchase, during the twelve-month period beginning April 24, 2019 and ending April 23, 2020, the lesser of 35.7 million Class B Non-Voting Shares and that number of Class B Non-Voting Shares that can be purchased for an aggregate purchase price of $500 million (2019 NCIB). </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">We did not repurchase any Class B Non-Voting Shares this year. During the three months ended December 31, 2019, we repurchased for cancellation 5.6 million Class B Non-Voting Shares under our 2019 NCIB for a purchase price of $357 million. During 2019, we repurchased for cancellation 9.9 million Class B Non-Voting Shares under our 2019 NCIB program and our prior NCIB program for a total purchase price of $655 million.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Outstanding common shares</font></div><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.849%"><tr><td style="width:1.0%"></td><td style="width:72.133%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.283%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.284%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">As at<br>December 31</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">As at<br>December 31</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</font></td></tr><tr style="height:9pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Common shares outstanding</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"> 1</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Class A Voting Shares</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">111,154,811</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">111,154,811&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Class B Non-Voting Shares</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">393,770,507</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">393,770,507&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:9pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total common shares</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">504,925,318</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">504,925,318&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:9pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Options to purchase Class B Non-Voting Shares</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Outstanding options</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,726,634</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,154,795&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Outstanding options exercisable</font></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,470,383</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">993,645&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:3pt;padding-left:4.5pt;text-align:justify;text-indent:-4.5pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">1</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.87pt">Holders of our Class B Non-Voting Shares are entitled to receive notice of and to attend shareholder meetings&#59; however, they are not entitled to vote at these meetings except as required by law or stipulated by stock exchanges. If an offer is made to purchase outstanding Class A Shares, there is no requirement under applicable law or our constating documents that an offer be made for the outstanding Class B Non-Voting Shares, and there is no other protection available to shareholders under our constating documents. If an offer is made to purchase both classes of shares, the offer for the Class A Shares may be made on different terms than the offer to the holders of Class B Non-Voting Shares.</font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.929%"><tr><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.234%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Rogers Communications Inc.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">23</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fourth Quarter 2020</font></td></tr><tr><td colspan="3" style="display:none"></td></tr></table></div></div></div><div id="id133cfed770e469cb2e56b44a04d6fcf_76"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div style="text-align:justify"><font><br></font></div></div><div><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Financial Risk Management</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">This section should be read in conjunction with &#34;Financial Risk Management&#34; in our 2019 Annual MD&#38;A. We use derivative instruments to manage financial risks related to our business activities. We only use derivatives to manage risk and not for speculative purposes. We also manage our exposure to both fixed and fluctuating interest rates and had fixed the interest rate on 93.6% of our outstanding debt, including short-term borrowings, as at December&#160;31, 2020 (December&#160;31, 2019 - 87.2%).</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Debt derivatives</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">We use cross-currency interest rate agreements and foreign exchange forward agreements (debt derivatives) to manage risks from fluctuations in foreign exchange rates and interest rates associated with our US dollar-denominated senior notes and debentures, lease liabilities, credit facility borrowings, and US dollar-denominated commercial paper borrowings. We designate the debt derivatives related to our senior notes, debentures and lease liabilities as hedges for accounting purposes against the foreign exchange risk associated with specific debt instruments. Debt derivatives related to our credit facility and US CP borrowings have not been designated as hedges for accounting purposes.</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">Credit facilities and US CP</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Below is a summary of the debt derivatives we entered and settled related to our credit facilities and US CP program during the three and twelve months ended December&#160;31, 2020 and 2019.</font></div><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.849%"><tr><td style="width:1.0%"></td><td style="width:44.012%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.922%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.922%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.922%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.551%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.922%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.922%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.927%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="6" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Three months ended December 31, 2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="6" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Twelve months ended December 31, 2020</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(In millions of dollars, except exchange rates)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Notional</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;(US$)</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Exchange rate</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Notional</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Cdn$)</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Notional </font></div><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(US$)</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Exchange</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">rate</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Notional</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Cdn$)</font></div></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">Credit facilities</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Debt derivatives entered</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">970</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1.428</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,385</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Debt derivatives settled</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">970</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1.406</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,364</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net cash paid</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(21)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">US commercial paper program</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Debt derivatives entered</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">200</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1.280</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">256</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,316</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1.329</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,406</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Debt derivatives settled</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,091</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1.330</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5,441</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net cash received</font></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000000;border-left:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">101</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.849%"><tr><td style="width:1.0%"></td><td style="width:44.012%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.922%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.922%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.922%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.551%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.922%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.922%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.927%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="6" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Three months ended December 31, 2019</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="6" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Twelve months ended December 31, 2019</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(In millions of dollars, except exchange rates)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Notional</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;(US$)</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Exchange rate</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Notional</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Cdn$)</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Notional </font></div><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(US$)</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Exchange</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">rate</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Notional</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Cdn$)</font></div></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">Credit facilities</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Debt derivatives entered</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">420&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.336&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">561&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Debt derivatives settled</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">420&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.343&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">564&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net cash received</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">US commercial paper program</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Debt derivatives entered</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,851&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.321&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,766&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12,897&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.328&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17,127&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Debt derivatives settled</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,426&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.321&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,204&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12,847&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.329&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17,069&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net cash received (paid)</font></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000000;border-left:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(13)</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">As at December&#160;31, 2020, we had nil and US$448 million notional amount of debt derivatives outstanding relating to our credit facility borrowings and US CP program (December&#160;31, 2019 - nil and US$1,226 million), respectively.</font></div><div style="text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.929%"><tr><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.234%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Rogers Communications Inc.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">24</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fourth Quarter 2020</font></td></tr><tr><td colspan="3" style="display:none"></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div style="text-align:justify"><font><br></font></div></div><div><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">Senior notes</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Below is a summary of the debt derivatives we entered related to senior notes during the twelve months ended December&#160;31, 2020 and 2019.</font></div><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:19.921%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.918%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.509%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.566%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.550%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.866%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.870%"></td><td style="width:0.1%"></td></tr><tr><td colspan="12" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(In millions of dollars, except interest rates)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">US$</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="border-left:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Hedging effect</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Effective date</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Principal&#47;Notional amount (US$)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Maturity date</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Coupon rate</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed hedged (Cdn$) interest rate</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"> 1</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Equivalent (Cdn$)</font></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">2020 issuances</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">June 22, 2020</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">750&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2022</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD LIBOR + 0.60%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.955&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,019&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">2019 issuances</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">April 30, 2019</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,250&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2049</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.350&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.173&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,676&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">November 12, 2019</font></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2049</font></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.700&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #000000;border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.996&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,308&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:3pt;padding-left:4.5pt;text-align:justify;text-indent:-2.25pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">1&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Converting from a fixed US$ coupon rate to a weighted average Cdn$ fixed rate.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">As at December&#160;31, 2020, we had US$9,050 million (December&#160;31, 2019 - US$8,300 million) in US dollar-denominated senior notes and debentures, of which all of the associated foreign exchange and interest rate risk had been hedged using debt derivatives.</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">Lease liabilities</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Below is a summary of the debt derivatives we entered and settled related to our outstanding lease liabilities for the three and twelve months ended December&#160;31, 2020 and 2019.</font></div><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.734%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.710%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.560%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.560%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.550%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.710%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.560%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.716%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="9" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Three months ended December 31, 2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="9" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Twelve months ended December 31, 2020</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(In millions of dollars, except exchange rates)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Notional</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(US$)</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Exchange rate</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Notional<br>(Cdn$)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Notional</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(US$)</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Exchange</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">rate</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Notional</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Cdn$)</font></div></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Debt derivatives entered</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">25</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1.280</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">32</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">115</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1.374</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">158</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Debt derivatives settled</font></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">13</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1.462</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">19</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #000000;border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">43</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1.372</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">59</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.734%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.710%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.560%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.560%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.550%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.710%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.560%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.716%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="9" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Three months ended December 31, 2019</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="9" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Twelve months ended December 31, 2019</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(In millions of dollars, except exchange rates)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Notional</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(US$)</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Exchange rate</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Notional<br>(Cdn$)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Notional</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(US$)</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Exchange</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">rate</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Notional</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Cdn$)</font></div></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Debt derivatives entered</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">70&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.314&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">92&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">70&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.314&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">92&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Debt derivatives settled</font></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #000000;border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">As at December&#160;31, 2020, we had US$142 million notional amount of debt derivatives outstanding relating to our outstanding lease liabilities (December&#160;31, 2019 - US$70 million) with terms to maturity ranging from January 2021 to December 2023 (December&#160;31, 2019 - January 2020 to December 2022), at an average rate of $1.352&#47;US$ (December&#160;31, 2019 - $1.318&#47;US$).</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">See &#34;Mark-to-market value&#34; for more information about our debt derivatives.</font></div><div style="text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.929%"><tr><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.234%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Rogers Communications Inc.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">25</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fourth Quarter 2020</font></td></tr><tr><td colspan="3" style="display:none"></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div style="text-align:justify"><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Expenditure derivatives</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">We use foreign currency forward contracts (expenditure derivatives) to manage the foreign exchange risk in our operations, designating them as hedges for accounting purposes for certain of our forecast operational and capital expenditures.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Below is a summary of the expenditure derivatives we entered and settled during the three and twelve months ended December&#160;31, 2020 and 2019.</font></div><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.734%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.710%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.560%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.560%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.550%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.710%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.560%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.716%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="9" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Three months ended December 31, 2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="9" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Twelve months ended December 31, 2020</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(In millions of dollars, except exchange rates)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Notional</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(US$)</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Exchange rate</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Notional<br>(Cdn$)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Notional</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(US$)</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Exchange</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">rate</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Notional</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Cdn$)</font></div></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Expenditure derivatives entered</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">294</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1.286</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">378</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,560</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1.343</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,095</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Expenditure derivatives settled</font></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">205</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1.298</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">266</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #000000;border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">940</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1.299</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,221</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.734%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.710%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.560%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.560%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.550%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.710%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.560%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.716%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="9" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Three months ended December 31, 2019</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="9" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Twelve months ended December 31, 2019</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(In millions of dollars, except exchange rates)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Notional</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(US$)</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Exchange rate</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Notional<br>(Cdn$)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Notional</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(US$)</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Exchange</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">rate</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Notional</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Cdn$)</font></div></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Expenditure derivatives entered</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.300&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">39&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">810&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.321&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,070&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Expenditure derivatives settled</font></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">210&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.243&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">261&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #000000;border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">900&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.249&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,124&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">As at December&#160;31, 2020, we had US$1,590 million notional amount of expenditure derivatives outstanding (December&#160;31, 2019 - US$990 million) with terms to maturity ranging from January 2021 to December 2022 (December&#160;31, 2019 - January 2020 to December 2021), at an average rate of $1.342&#47;US$ (December&#160;31, 2019 - $1.300&#47;US$).</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">See &#34;Mark-to-market value&#34; for more information about our expenditure derivatives.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Equity derivatives</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">We use total return swaps (equity derivatives) to hedge the market price appreciation risk of the Class B Non-Voting Shares granted under our stock-based compensation programs. The equity derivatives have not been designated as hedges for accounting purposes.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">As at December&#160;31, 2020, we had equity derivatives outstanding for 4.6 million (December 31, 2019 - 4.3 million) Class B Non-Voting Shares with a weighted average price of $51.82 (December 31, 2019 - $51.76).</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">We did not enter into or settle any equity derivatives during the three months ended December&#160;31, 2020 or 2019. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">See &#34;Mark-to-market value&#34; for more information about our equity derivatives.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Mark-to-market value</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">We record our derivatives using an estimated credit-adjusted, mark-to-market valuation, calculated in accordance with IFRS.</font></div><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.699%"><tr><td style="width:1.0%"></td><td style="width:45.285%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.303%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.303%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.303%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.306%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;&#160;</font></td><td colspan="12" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">As at December 31, 2020</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(In millions of dollars, except exchange rates)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Notional</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">amount</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(US$)</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Exchange</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">rate</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Notional</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">amount</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Cdn$)</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fair&#160;value&#160;</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Cdn$)&#160;</font></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Debt derivatives accounted for as cash flow hedges&#58;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">As assets</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,550&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.0795&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,912&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,405</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">As liabilities</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,642&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.3359&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,201&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(307)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Short-term debt derivatives not accounted for as hedges&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">As liabilities</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">449&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.2995&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">583&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(12)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net mark-to-market debt derivative asset</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,086</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Expenditure derivatives accounted for as cash flow hedges&#58;</font></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">As liabilities</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,590&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.3421&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,134&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(109)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Equity derivatives not accounted for as hedges&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">As assets</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">238&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">34</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net mark-to-market asset</font></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,011</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.929%"><tr><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.234%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Rogers Communications Inc.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">26</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fourth Quarter 2020</font></td></tr><tr><td colspan="3" style="display:none"></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div style="text-align:justify"><font><br></font></div></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.699%"><tr><td style="width:1.0%"></td><td style="width:45.285%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.303%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.303%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.303%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.306%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="12" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">As at December 31, 2019</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(In millions of dollars, except exchange rates)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Notional</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">amount</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(US$)</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Exchange</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">rate</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Notional</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">amount</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Cdn$)</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fair&#160;value&#160;</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Cdn$)&#160;</font></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Debt derivatives accounted for as cash flow hedges&#58;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">As assets</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,800&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.1357&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,587&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,508&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">As liabilities</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,570&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.3263&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,409&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(96)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Short-term debt derivatives not accounted for as hedges&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">As liabilities</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,223&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.3227&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,618&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(29)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net mark-to-market debt derivative asset</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,383&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Expenditure derivatives accounted for as cash flow hedges&#58;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">As assets</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">270&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.2391&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">335&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">As liabilities</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">720&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.3228&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">952&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(15)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net mark-to-market expenditure derivative asset</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Equity derivatives not accounted for as hedges&#58;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">As assets</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">223&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">55&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net mark-to-market asset</font></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,439&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div id="id133cfed770e469cb2e56b44a04d6fcf_88"></div><div><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Updates to Risks and Uncertainties</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">See our 2019 Annual MD&#38;A for a discussion of the principal risks and uncertainties that could have a material adverse effect on our business and financial results as at March 5, 2020, which should be reviewed in conjunction with this MD&#38;A. The following factors may contribute to those risks and uncertainties.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Outbreak of COVID-19 and related pandemic</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">On March 11, 2020, the World Health Organization recognized the outbreak of COVID-19 as a pandemic and we have been closely monitoring related developments. As COVID-19 continues to significantly impact the well-being of individuals and the Canadian and global economies, we have invoked our business continuity plans and implemented a specific response plan to continue providing our essential services and support to our customers and communities while safeguarding the health and safety of the public and our employees.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">We are focused on operating and maintaining our wireless and cable networks, including adding capacity and managing traffic where needed, our media operations, and the key business operations required to ensure service continuity for customers. We have implemented alternative working arrangements for employees while we review and follow directions from the government to ensure the safety of our team and implement necessary safeguards to accommodate a gradual approach in reopening our sites to employees. On March 16, 2020, and until June 30, 2020, we announced a series of measures to help our customers, including the temporary waiving of certain fees and providing access to a rotating selection of television channels and content, as we continually seek new ways to support our customers.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Public and private sector regulations, policies, and other measures aimed at reducing the transmission of COVID-19 include the imposition of business closures, travel restrictions, the promotion of social distancing, and the adoption of work-from-home and online education by companies, schools, and institutions. These measures are impacting how customers use our networks, products, and services, the manner or extent to which we can offer certain products and services (including the suspension of major sports leagues and live events), and the ability of certain suppliers and vendors to provide products and services to us.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">We maintained our programs to help employees manage through COVID-19 and provide support and services to our customers and audiences. After temporarily closing most of our retail locations nationally in March, we continued a steady and phased approach to reopening our retail locations across Canada, following the public health guidelines of their respective provinces, and had reopened most of our retail stores as at December 31, 2020.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">In late September, several Canadian provinces declared a second wave of COVID-19 had commenced and provinces are adjusting various restrictions, including mandatory closures of certain types of businesses and reduced limits on social gatherings. In response to the second wave, we formed a regional hotspot assessment team to monitor COVID-19 infection rates across Canada and alert management to allow appropriate responses across our businesses as required.</font></div><div style="text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.929%"><tr><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.234%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Rogers Communications Inc.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">27</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fourth Quarter 2020</font></td></tr><tr><td colspan="3" style="display:none"></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div style="text-align:justify"><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">We remain in close contact with government officials at all levels, suppliers, partners, and key business customers, and our pandemic response plans are continually evolving.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The full extent and impact of COVID-19 is unknown. Potential adverse impacts of the pandemic include, but are not limited to&#58;</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">the risk of a material reduction in demand for our products and services due to businesses closing or downsizing, job losses and associated financial hardship, or, more generally, a declining level of retail activity, which may lead to a decline in revenue as a result of&#58;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">lower Wireless subscriber activity, including lower equipment revenue&#59;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">the restriction of fan attendance at major sports league games, the potential suspension or further shortening of current or future major sports league seasons due to the second wave of COVID-19, and the associated television programming&#59;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">services temporarily provided to our customers at no cost, such as long distance calling, roaming, and free television channels&#59;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">lower roaming and overage revenue as customers are unable or unwilling to travel and continue to stay home&#59; and</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">customers downgrading or cancelling their services&#59;</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">an increase in delinquent or unpaid bills, which could lead to increased bad debt expense&#59;</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">issues delivering certain products and services, or maintaining or upgrading our networks, due to store closures and supply chain disruptions&#59;</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">additional capital expenditures to maintain or expand our networks in order to accommodate substantially increased network usage&#59; and</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">higher costs for new capital.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">While we expect certain cost savings to offset some of the lower revenue, such as lower equipment costs, we also cannot predict the extent to which they would be offset or the extent to which they would materialize.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Although vaccine candidates have recently been announced, with a potential for the majority of Canadians being vaccinated by the fall of 2021, there is still significant uncertainty surrounding the duration and potential outcomes of COVID-19. The federal and provincial governments have introduced measures throughout the year to slow the spread of COVID-19 that may have broader impacts on the Canadian and global economies or financial markets. We are unable at this time to predict the overall impact on our operations, liquidity, financial condition, or results&#59; however, it has had, and may continue to have, a material, adverse impact on our results. Any future epidemic, pandemic, or other public health crisis that occurs in the future may pose similar risks to us.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Wholesale Internet costing and pricing</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">In August 2019, in Telecom Order CRTC 2019-288, </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">Follow-up to Telecom Orders 2016-396 and 2016-448 - Final rates for aggregated wholesale high-speed access services</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%"> (Order), the CRTC set final rates for facilities-based carriers' wholesale high-speed access services, including Rogers' third party internet access (TPIA) service. The Order set final rates for Rogers that are significantly lower than the interim rates that were previously billed and it further determined that these final rates will apply retroactively to March 31, 2016. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">We do not believe the final rates set by the CRTC are just and reasonable as required by the Telecommunications Act as we believe they are below cost. On September 13, 2019, Rogers, in conjunction with the other large Canadian cable companies (Cable Carriers), filed a motion for Leave to Appeal pursuant to Section 64(1) of the Telecommunications Act with the Federal Court of Appeal (Court) and an associated motion for an interlocutory Stay of the CRTC Order. The Cable Carriers also filed an appeal to Cabinet and a review and vary application back to the CRTC. On September 27, 2019, the Court granted an Interim Stay suspending the Order until the Court rules on the Cable Carriers&#8217; motion for an interlocutory Stay of the CRTC&#8217;s Order pending the Court&#8217;s determination of the Cable Carriers&#8217; motion for Leave to Appeal. On November 22, 2019, the Court granted Leave to Appeal and an interlocutory Stay of the CRTC Order. The appeal was heard in June 2020. On September 10, 2020, the Court dismissed the Cable Carriers' appeal and simultaneously vacated the interlocutory Stay previously granted. On September 28, 2020, the CRTC issued a Stay of Order 2019-288 pending review of the appropriateness of the rates established in the Order. On November 12, 2020, the Cable Carriers filed a motion for Leave to Appeal the Court's decision with the Supreme Court of Canada.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Due to the CRTC's issuance of the Stay, and the significant uncertainty surrounding both the outcome and the amount, if any, we could ultimately have to repay to the resellers, we have not recorded a liability for this contingency at this time. The CRTC&#8217;s order as drafted would have resulted in a refund of amounts previously billed to the resellers of approximately $210 million, representing the impact on a retroactive basis from March 31, 2016 to December 31, 2020. We estimate the ongoing impact would be between $10 and $15 million per quarter.</font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.929%"><tr><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.234%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Rogers Communications Inc.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">28</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fourth Quarter 2020</font></td></tr><tr><td colspan="3" style="display:none"></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div style="text-align:justify"><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Outcome of proceedings</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The outcome of all the proceedings and claims against us, including the matters described above, is subject to future resolution that includes the uncertainties of litigation. It is not possible for us to predict the result or magnitude of the claims due to the various factors and uncertainties involved in the legal process. Based on information currently known to us, we believe it is not probable that the ultimate resolution of any of these proceedings and claims, individually or in total, will have a material adverse effect on our business, financial results, or financial condition. If circumstances change and it becomes probable that we will be held liable for claims against us and such claim is estimable, we will recognize a provision during the period in which the change in probability occurs, which could be material to our Consolidated Statements of Income or Consolidated Statements of Financial Position. </font></div><div style="text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.929%"><tr><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.234%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Rogers Communications Inc.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">29</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fourth Quarter 2020</font></td></tr><tr><td colspan="3" style="display:none"></td></tr></table></div></div></div><div id="id133cfed770e469cb2e56b44a04d6fcf_103"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div style="text-align:justify"><font><br></font></div></div><div><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Key Performance Indicators</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">We measure the success of our strategy using a number of key performance indicators that are defined and discussed in our 2019 Annual MD&#38;A and this earnings release. We believe these key performance indicators allow us to appropriately measure our performance against our operating strategy and against the results of our peers and competitors. The following key performance indicators are not measurements in accordance with IFRS and should not be considered alternatives to net income or any other measure of performance under IFRS. They include&#58;</font></div><div style="width:100.000%"><div style="display:inline-block;vertical-align:top;width:46.396%"><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">subscriber counts&#59;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">Wireless&#59;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">Cable&#59; and</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">homes passed (Cable)&#59;</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">Wireless subscriber churn (churn)&#59;</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">Wireless blended average billings per user<br>(ABPU)&#59;</font></div></div><div style="display:inline-block;max-width:7.207%;min-width:6.207%;vertical-align:top"></div><div style="display:inline-block;vertical-align:top;width:46.397%"><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">Wireless blended average revenue per user</font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">(ARPU)&#59;</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">Cable average revenue per account (ARPA)&#59;</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">Cable customer relationships&#59;</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">Cable market penetration (penetration)&#59;</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">capital intensity&#59; and</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">total service revenue.</font></div></div></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Effective January 1, 2020, we updated the key performance indicators we present for our Cable segment to align our external reporting with the focus of our internal business strategy as a result of the convergence of technologies used to deliver Internet and television services, including the continued adoption of Ignite TV. We have begun disclosing Cable average revenue per account (ARPA), customer relationships, and market penetration as defined below. Additionally, we have amended the definition of our subscriber counts for Television to include only Ignite TV</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:6.17pt;font-weight:400;line-height:120%;position:relative;top:-3.32pt;vertical-align:baseline"> </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">and renamed the metric accordingly as a result of shifting our product offering to focus on IPTV. Finally, we have ceased reporting Phone subscribers and total service units as our Phone product is increasingly being bundled with our Internet and Television products for a very low incremental cost. These changes have been made to align our external disclosure with the focus of the business and our strategy. Our updated definitions are as follows&#58;</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">SUBSCRIBER COUNTS</font></div><div><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">Subscriber count (Cable)</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">Cable Ignite TV and Internet subscribers are represented by a dwelling unit.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">When there is more than one unit in a single dwelling, such as an apartment building, each tenant with cable service is counted as an individual subscriber, whether the service is invoiced separately or included in the tenant's rent. Institutional units, such as hospitals or hotels, are each considered one subscriber.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">Cable Ignite TV and Internet subscribers include only those subscribers who have service installed and operating, and who are being billed accordingly.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">Subscriber counts exclude certain business services delivered over our fibre network and data centre infrastructure, and circuit-switched local and long distance voice services and legacy data services where access is delivered using leased third-party network elements and tariffed ILEC services.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">CUSTOMER RELATIONSHIPS</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Customer relationships are represented by dwelling units where at least one of our Cable services (i.e. Internet, legacy television or Ignite TV, and&#47;or home phone) are installed and operating, and the service or services are billed accordingly. When there is more than one unit in one dwelling, such as an apartment building, each tenant with at least one of our Cable services is counted as an individual customer relationship, whether the service is invoiced separately or included in the tenant's rent. Institutional units, like hospitals or hotels, are each considered one customer relationship.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">AVERAGE REVENUE PER ACCOUNT (CABLE) </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Average revenue per account (ARPA) measures total average spending by a single customer account on Cable products. We use it to identify trends and measure our success in attracting and retaining multiple-service accounts. We calculate ARPA by dividing Cable service revenue by the average total number of customer relationships for the same period. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">MARKET PENETRATION</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Market penetration (penetration) measures our success at attracting new households to our brands and products within our network footprint. Market penetration is calculated by dividing customer relationships by homes passed. An increasing market penetration rate reflects more new customer relationships than new homes passed.</font></div><div style="text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.929%"><tr><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.234%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Rogers Communications Inc.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">30</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fourth Quarter 2020</font></td></tr><tr><td colspan="3" style="display:none"></td></tr></table></div></div></div><div id="id133cfed770e469cb2e56b44a04d6fcf_106"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div style="text-align:justify"><font><br></font></div></div><div><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Non-GAAP Measures and Related Performance Measures</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">We use the following non-GAAP measures and related performance measures. These are reviewed regularly by management and the Board in assessing our performance and making decisions regarding the ongoing operations of our business and its ability to generate cash flows. Some or all of these measures may also be used by investors, lending institutions, and credit rating agencies as indicators of our operating performance, of our ability to incur and service debt, and as measurements to value companies in the telecommunications sector. These are not recognized measures under GAAP and do not have standard meanings under IFRS, so may not be reliable ways to compare us to other companies. </font></div><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:13.464%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.352%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.550%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.984%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.984%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.866%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-GAAP measure or related performance measure</font></div></td><td colspan="9" style="border-bottom:1pt solid #000000;border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Why we use it</font></div></td><td colspan="3" style="border-bottom:1pt solid #000000;border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">How we calculate it</font></div></td><td colspan="3" style="border-bottom:1pt solid #000000;border-left:1pt solid #000000;border-right:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Most<br>comparable<br>IFRS&#160;financial<br>measure</font></div></td></tr><tr style="height:45pt"><td colspan="3" rowspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjusted EBITDA</font></div><div style="padding-left:6.75pt"><font><br></font></div><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjusted EBITDA margin</font></div></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#9679;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">To evaluate the performance of our businesses, and when making decisions about the ongoing operations of the business and our ability to generate cash flows.</font></td><td colspan="3" rowspan="3" style="border-left:1pt solid #000000;border-right:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-top:2pt;padding-left:6.75pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjusted EBITDA&#58;</font></div><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net income</font></div><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">add (deduct)</font></div><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">income tax expense (recovery)&#59; finance costs&#59; depreciation and amortization&#59; other expense (income)&#59; restructuring, acquisition and other&#59; and loss (gain) on disposition of property, plant and equipment.</font></div><div style="padding-left:6.75pt"><font><br></font></div><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjusted EBITDA margin&#58;</font></div><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjusted EBITDA</font></div><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">divided by</font></div><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">revenue (or service revenue for Wireless).</font></div></td><td colspan="3" rowspan="3" style="border-left:1pt solid #000000;border-right:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net income</font></td></tr><tr style="height:38pt"><td colspan="3" style="border-left:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#9679;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-right:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">We believe that certain investors and analysts use adjusted EBITDA to measure our ability to service debt and to meet other payment obligations.</font></td></tr><tr style="height:38pt"><td colspan="3" style="border-left:1pt solid 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Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjusted net</font></div><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">income</font></div><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></div><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjusted basic</font></div><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">and diluted</font></div><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">earnings per</font></div><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Ted 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business performance. 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Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#9679;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">To show how much cash we have available to repay debt and reinvest in our company, which is an important indicator of our financial strength and performance.</font></td><td colspan="3" rowspan="2" style="border-left:1pt solid #000000;border-right:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Ted 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Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">by operating</font></div><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">activities</font></div></td></tr><tr style="height:30pt"><td colspan="3" style="border-left:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#9679;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-right:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">We believe that some investors and analysts use free cash 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Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">To conduct valuation-related analysis and make decisions about capital structure.</font></td><td colspan="3" rowspan="2" style="border-left:1pt solid #000000;border-right:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total long-term debt</font></div><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">add (deduct)</font></div><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Ted 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#000000;border-right:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjusted net debt (defined above)</font></div><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">divided by</font></div><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12-month trailing adjusted EBITDA (defined above).</font></div></td><td colspan="3" rowspan="2" style="border-bottom:1pt solid #000000;border-left:1pt solid #000000;border-right:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Ted 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solid #000000;border-right:1pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">We believe this helps investors and analysts analyze our enterprise and equity value and assess our leverage.</font></td></tr></table></div><div style="margin-top:3pt;text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.929%"><tr><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.234%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Rogers Communications Inc.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">31</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fourth Quarter 2020</font></td></tr><tr><td colspan="3" style="display:none"></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div style="text-align:justify"><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Reconciliation of adjusted EBITDA</font></div><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.849%"><tr><td style="width:1.0%"></td><td style="width:42.208%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.884%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.884%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.551%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.884%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.889%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;&#160;</font></td><td colspan="6" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Three months ended December 31</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="6" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Twelve months ended December 31</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(In millions of dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</font></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net income</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">449</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">468&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,592</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,043&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Add&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Income tax expense</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">172</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">168&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">580</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">712&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Finance costs</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">228</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">230&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">881</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">840&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Depreciation and amortization</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">666</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">638&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,618</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,488&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EBITDA</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,515</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,504&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5,671</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,083&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Add (deduct)&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other expense (income)</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(12)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(10)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Restructuring, acquisition and other</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">73</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">38&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">185</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">139&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjusted EBITDA</font></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,590</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,530&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #000000;border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5,857</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,212&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Reconciliation of adjusted EBITDA margin</font></div><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.849%"><tr><td style="width:1.0%"></td><td style="width:42.208%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.884%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.884%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.551%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.884%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.889%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;&#160;</font></td><td colspan="6" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Three months ended December 31</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="6" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Twelve months ended December 31</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(In millions of dollars, except margins)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</font></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjusted EBITDA</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,590</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,530&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5,857</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,212&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Divided by&#58; total revenue</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,680</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,952&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">13,916</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15,073&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjusted EBITDA margin</font></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">43.2</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">%</font></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">38.7&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #000000;border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">42.1</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">%</font></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">41.2&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Reconciliation of adjusted net income</font></div><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.849%"><tr><td style="width:1.0%"></td><td style="width:42.208%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.884%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.884%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.551%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.884%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.889%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;&#160;</font></td><td colspan="6" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Three months ended December 31</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="6" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Twelve months ended December 31</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(In millions of dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</font></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net income</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">449</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">468&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,592</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,043&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Add (deduct)&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Restructuring, acquisition and other</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">73</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">38&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">185</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">139&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Loss on repayment of long-term debt</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Income tax impact of above items</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(19)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(14)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(49)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(43)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Income tax adjustment, legislative tax change</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(3)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(3)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(23)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjusted net income</font></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">500</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">511&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #000000;border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,725</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,135&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:3pt;text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.929%"><tr><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.234%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Rogers Communications Inc.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">32</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fourth Quarter 2020</font></td></tr><tr><td colspan="3" style="display:none"></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div style="text-align:justify"><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Reconciliation of adjusted earnings per share</font></div><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.849%"><tr><td style="width:1.0%"></td><td style="width:42.208%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.884%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.884%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.551%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.884%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.889%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="6" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Three months ended December 31</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="6" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Twelve months ended December 31</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(In millions of dollars, except per share amounts&#59; number of shares outstanding in millions)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</font></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjusted basic earnings per share&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjusted net income</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">500</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">511&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,725</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,135&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Divided by&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:29.25pt;text-indent:-9pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Weighted average number of shares outstanding</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">505</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">509&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">505</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">512&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjusted basic earnings per share</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$0.99</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$1.00&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$3.42</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$4.17&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjusted diluted earnings per share&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Diluted adjusted net income</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">500</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">511&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,718</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,129&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Divided by&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:29.25pt;text-indent:-9pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Diluted weighted average number of shares outstanding</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">506</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">510&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">506</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">513&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjusted diluted earnings per share</font></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$0.99</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$1.00&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #000000;border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$3.40</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$4.15&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Reconciliation of free cash flow</font></div><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.849%"><tr><td style="width:1.0%"></td><td style="width:42.208%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.884%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.884%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.551%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.884%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.889%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;&#160;</font></td><td colspan="6" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Three months ended December 31</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="6" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Twelve months ended December 31</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(In millions of dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</font></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash provided by operating activities</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">947</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,166&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,321</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,526&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Add (deduct)&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Capital expenditures</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(656)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(791)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2,312)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,807)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest on borrowings, net of capitalized interest</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(191)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(187)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(761)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(727)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest paid</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">194</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">198&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">808</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">779&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Restructuring, acquisition and other</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">73</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">38&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">185</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">139&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Program rights amortization</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(23)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(19)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(77)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(77)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:11.25pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Change in net operating assets and liabilities </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">1</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">265</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">102&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">333</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">462&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:11.25pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other adjustments </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">1</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(41)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(10)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(131)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(17)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Free cash flow</font></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">568</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">497&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #000000;border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,366</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,278&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:3pt;padding-left:4.5pt;text-align:justify;text-indent:-4.5pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">1&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:120%">As a result of the growth of our financing receivable program and the ways in which we manage our business, effective this quarter and retroactively, we have reclassified the &#34;net change in contract asset balances&#34; and the &#34;net change in financing receivable balances&#34; into &#34;change in net operating assets and liabilities&#34;. Additionally, certain 2019 reported figures have been reclassified to conform to the current presentation.</font></div><div style="padding-left:4.5pt;text-align:justify;text-indent:-4.5pt"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.929%"><tr><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.234%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Rogers Communications Inc.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">33</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fourth Quarter 2020</font></td></tr><tr><td colspan="3" style="display:none"></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div style="text-align:justify"><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Reconciliation of adjusted net debt and debt leverage ratio</font></div><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.972%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.863%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:12.865%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">As at<br>December 31</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">As&#160;at</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">December&#160;31</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(In millions of dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</font></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current portion of long-term debt</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,450</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Long-term debt</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">16,751</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15,967&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deferred transaction costs and discounts</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">172</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">163&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">18,373</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16,130&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Add (deduct)&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net debt derivative assets</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,086)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,383)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Credit risk adjustment related to net debt derivative assets</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(15)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(31)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Short-term borrowings</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,221</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,238&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current portion of lease liabilities</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">278</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">230&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Lease liabilities</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,557</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,495&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash and cash equivalents</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2,484)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(494)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjusted net debt</font></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">17,844</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18,185&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.972%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.863%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:12.865%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">As at<br>December 31</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">As at<br>December&#160;31</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(In millions of dollars, except ratios)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</font></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjusted net debt</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">17,844</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18,185&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Divided by&#58; trailing 12-month adjusted EBITDA</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5,857</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,212&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Debt leverage ratio</font></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3.0</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.9&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.929%"><tr><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.234%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Rogers Communications Inc.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">34</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fourth Quarter 2020</font></td></tr><tr><td colspan="3" style="display:none"></td></tr></table></div></div></div><div id="id133cfed770e469cb2e56b44a04d6fcf_109"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div style="text-align:justify"><font><br></font></div></div><div><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Other Information</font></div><div style="text-align:justify"><font><br></font></div><div id="id133cfed770e469cb2e56b44a04d6fcf_112"></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Consolidated financial results - quarterly summary</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Below is a summary of our consolidated results for the past eight quarters.</font></div><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:45.446%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.506%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.506%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.506%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.506%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.550%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.506%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.506%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.506%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.362%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;&#160;</font></td><td colspan="12" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="12" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2019</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(In millions of dollars, except per share amounts)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Q4</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Q3</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Q2</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Q1</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Q4</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Q3</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Q2</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Q1</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Revenue</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Wireless</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2,291</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,228&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,934&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,077&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,493&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,324&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,244&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,189&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Cable</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">1,019</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">988&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">966&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">973&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">987&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">994&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">997&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">976&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Media</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">409</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">489&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">296&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">412&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">530&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">483&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">591&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">468&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Corporate items and intercompany eliminations</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(39)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(40)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(41)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(46)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(58)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(47)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(52)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(46)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Total revenue</font></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">3,680</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">3,665&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">3,155&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">3,416&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">3,952&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">3,754&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">3,780&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">3,587&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Total service revenue </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:4.55pt;font-weight:400;line-height:100%;position:relative;top:-2.44pt;vertical-align:baseline">1</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">3,023</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">3,086&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,797&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">3,049&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">3,244&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">3,233&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">3,345&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">3,143&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:9pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Adjusted EBITDA </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:4.55pt;font-weight:400;line-height:100%;position:relative;top:-2.44pt;vertical-align:baseline">2</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Wireless</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">1,034</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,089&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">918&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,026&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,064&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,138&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,128&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,015&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Cable</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">520</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">508&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">454&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">453&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">497&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">499&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">478&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">445&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Media</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">82</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">89&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(35)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(85)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">22&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">130&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">72&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(84)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Corporate items and intercompany eliminations</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(46)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(48)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(43)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(59)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(53)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(55)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(43)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(41)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Adjusted EBITDA</font></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">1,590</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,638&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,294&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,335&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,530&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,712&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,635&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,335&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Deduct (add)&#58;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Depreciation and amortization</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">666</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">663&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">650&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">639&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">638&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">627&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">614&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">609&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Restructuring, acquisition and other</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">73</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">49&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">42&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">21&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">38&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">42&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">39&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">20&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Finance costs</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">228</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">219&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">214&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">220&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">230&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">215&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">206&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">189&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Other expense (income)</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">6&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">7&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(14)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(12)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">16&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(1)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(13)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:15.75pt;text-indent:-9pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Net income before income tax expense</font></div></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">621</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">701&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">381&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">469&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">636&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">812&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">777&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">530&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Income tax expense</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">172</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">189&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">102&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">117&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">168&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">219&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">186&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">139&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Net income</font></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">449</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">512&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">279&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">352&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">468&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">593&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">591&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">391&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:9pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Earnings per share&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Basic</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">$0.89</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">$1.01&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">$0.55&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">$0.70&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">$0.92&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">$1.16&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">$1.15&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">$0.76&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Diluted</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">$0.89</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">$1.01&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">$0.54&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">$0.68&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">$0.92&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">$1.14&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">$1.15&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">$0.76&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr style="height:9pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Net income</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">449</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">512&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">279&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">352&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">468&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">593&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">591&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">391&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Add (deduct)&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:20.25pt;text-indent:-9pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Restructuring, acquisition and other</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">73</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">49&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">42&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">21&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">38&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">42&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">39&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">20&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:20.25pt;text-indent:-9pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Loss on repayment of long-term debt</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">19&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:20.25pt;text-indent:-9pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Income tax impact of above items</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(19)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(13)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(11)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(6)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(14)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(13)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(10)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(6)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Income tax adjustment, legislative tax change</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(3)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(23)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Adjusted net income </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:4.55pt;font-weight:400;line-height:100%;position:relative;top:-2.44pt;vertical-align:baseline">2</font></div></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">500</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">548&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">310&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">367&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">511&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">622&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">597&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">405&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:9pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Adjusted earnings per share </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:4.55pt;font-weight:400;line-height:100%;position:relative;top:-2.44pt;vertical-align:baseline">2</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#58;</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Basic</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">$0.99</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">$1.09&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">$0.61&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">$0.73&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">$1.00&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">$1.22&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">$1.17&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">$0.79&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Diluted</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">$0.99</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">$1.08&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">$0.60&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">$0.71&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">$1.00&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">$1.19&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">$1.16&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">$0.78&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr style="height:9pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Capital expenditures</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">656</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">504&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">559&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">593&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">791&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">657&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">742&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">617&#160;</font></td><td style="padding:2px 1pt 2px 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id="id133cfed770e469cb2e56b44a04d6fcf_124"></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Rogers Communications Inc.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Interim Condensed Consolidated Statements of Income</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">(In millions of dollars, except for per share amounts, unaudited)</font></div><div style="margin-top:5pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:53.554%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.161%"></td><td 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Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">38&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">185</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">139&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Finance costs</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">228</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">230&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">881</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">840&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other expense (income)</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(12)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(10)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Income before income tax expense</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">621</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">636&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,172</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,755&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Income tax expense</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">172</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">168&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">580</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">712&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net income for the period</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">449</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">468&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,592</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,043&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Earnings per share&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 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1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$0.89</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$0.92&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #000000;border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$3.13</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$3.97&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div style="margin-top:3pt;padding-left:4.5pt;text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.929%"><tr><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.234%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Rogers Communications Inc.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">36</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fourth Quarter 2020</font></td></tr><tr><td colspan="3" style="display:none"></td></tr></table></div></div></div><div id="id133cfed770e469cb2e56b44a04d6fcf_127"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div style="text-align:justify"><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Rogers Communications Inc.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Interim Condensed Consolidated Statements of Financial Position</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">(In millions of dollars, unaudited)</font></div><div style="margin-top:5pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.849%"><tr><td style="width:1.0%"></td><td style="width:74.839%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.930%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.931%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">As at<br>December 31</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">As at<br>December 31</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</font></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Assets</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current assets&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash and cash equivalents</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,484</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">494&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Accounts receivable </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">1</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,856</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,376&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Inventories</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">479</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">460&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current portion of contract assets</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">533</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,234&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other current assets </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">1</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">516</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">452&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current portion of derivative instruments</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">61</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">101&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total current assets</font></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6,929</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,117&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Property, plant and equipment</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">14,018</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13,934&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Intangible assets</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8,926</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,905&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Investments</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,536</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,830&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 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style="padding-left:6.75pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Financing receivables </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">1</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">748</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">76&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other long-term assets </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">1</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">346</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">756&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Goodwill</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,973</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,923&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total assets</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">38,854</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">37,019&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Liabilities and shareholders&#8217; equity</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current liabilities&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Short-term borrowings</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,221</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,238&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Accounts payable and accrued liabilities</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,714</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,033&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Income tax payable</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">344</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">48&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other current liabilities </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">1</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">243</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">191&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Contract liabilities</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">336</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">224&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted 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Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current portion of lease liabilities</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">278</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">230&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted 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colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Lease liabilities</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,557</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,495&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 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Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">704&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deferred tax liabilities</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,196</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted 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Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,416&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #6d6d6d;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total liabilities and shareholders&#8217; equity</font></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">38,854</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">37,019&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:3pt;padding-left:4.5pt;text-align:justify;text-indent:-4.5pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">1&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:120%">As a result of the growth of our financing receivable program and the ways in which we manage our business, effective this quarter and retroactively, we have reclassified certain balances. 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Derivative instrument liabilities have been reclassified to &#34;other current liabilities&#34; and &#34;other long-term liabilities&#34;, as applicable.</font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.929%"><tr><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.234%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Rogers Communications Inc.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">37</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fourth Quarter 2020</font></td></tr><tr><td colspan="3" style="display:none"></td></tr></table></div></div></div><div id="id133cfed770e469cb2e56b44a04d6fcf_130"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div style="text-align:justify"><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Rogers Communications Inc.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Interim Condensed Consolidated Statements of Cash Flows</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">(In millions of dollars, unaudited)</font></div><div style="margin-top:5pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.699%"><tr><td style="width:1.0%"></td><td style="width:49.351%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.098%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.098%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.553%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.098%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.102%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;&#160;</font></td><td colspan="9" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Three months ended December 31</font></td><td colspan="6" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Twelve months ended December 31</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2019</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2019</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Operating activities&#58;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Net income for the period</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">449</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">468&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">1,592</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,043&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:27pt;text-indent:-9pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Adjustments to reconcile net income to cash provided by operating activities&#58;</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 37pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Depreciation and amortization</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">666</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">638&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2,618</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,488&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 37pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Program rights amortization</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">23</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">19&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">77</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">77&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 37pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Finance costs</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">228</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">230&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">881</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">840&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 37pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Income tax expense</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">172</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">168&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">580</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">712&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 37pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Post-employment benefits contributions, net of expense</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">39</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">7&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">13</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(75)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Other</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:4.55pt;font-weight:400;line-height:100%;position:relative;top:-2.44pt;vertical-align:baseline"> 1</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">4</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(9)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">119</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">82&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt 2px 28pt;text-align:left;text-indent:-9pt;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Cash provided by operating activities before changes in net operating assets and liabilities, income taxes paid, and interest paid</font></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">1,581</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,521&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">5,880</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">6,167&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Change in net operating assets and liabilities </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:4.55pt;font-weight:400;line-height:100%;position:relative;top:-2.44pt;vertical-align:baseline">1</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(265)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(102)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(333)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(462)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Income taxes paid</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(175)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(55)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(418)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(400)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Interest paid</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(194)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(198)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(808)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(779)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:9pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Cash provided by operating activities</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">947</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,166&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">4,321</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">4,526&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:9pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Investing activities&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Capital expenditures</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(656)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(791)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(2,312)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(2,807)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Additions to program rights</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(12)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(31)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(57)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(60)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 28pt;text-align:left;text-indent:-9pt;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Changes in non-cash working capital related to capital expenditures and intangible assets</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">97</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">109&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(37)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(35)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Acquisitions and other strategic transactions, net of cash acquired</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(95)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(103)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(1,731)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Other</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">11</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">20&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(49)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">21&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:9pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Cash used in investing activities</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(655)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(693)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(2,558)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(4,612)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:9pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Financing activities&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Net proceeds received from (repayments of) short-term borrowings</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">256</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">553&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(1,146)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">30&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Net (repayment) issuance of long-term debt</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(92)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2,540</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,184&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 28pt;text-align:left;text-indent:-9pt;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Net proceeds (payments) on settlement of debt derivatives and forward contracts</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">5&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">80</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(121)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Principal payments of lease liabilities</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(58)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(43)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(213)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(167)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted 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0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(61)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Repurchase of Class B Non-Voting Shares</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 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style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(19)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:9pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Cash (used in) provided by financing activities</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(56)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(241)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">227</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">175&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:9pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Change in cash and cash equivalents</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">236</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">232&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">1,990</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">89&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Cash and cash equivalents, beginning of period</font></td><td colspan="2" 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style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">405&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:9pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Cash and cash equivalents, end of period</font></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2,484</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">494&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #000000;border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2,484</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:100%">494&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 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style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:50.101%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.912%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.912%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.550%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.912%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.913%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;&#160;</font></td><td colspan="6" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Three months ended December 31</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="6" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Twelve months ended December 31</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(In millions of dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</font></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Accounts receivable, excluding financing receivables</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">30</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(228)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">455</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(174)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Financing receivables</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(540)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(83)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,658)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(120)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Contract assets</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"> 1</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">256</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(148)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,170</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(204)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Inventories</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(17)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(66)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(19)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other current assets</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(60)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">27&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(132)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(41)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Accounts payable and accrued liabilities</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">15</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">313&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(326)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">61&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other liabilities</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"> 1</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">51</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">83&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">177</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 16.75pt;text-align:left;text-indent:-9pt;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total change in net operating assets and liabilities</font></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(265)</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(102)</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #000000;border-left:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(333)</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(462)</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:3pt;padding-left:4.5pt;text-align:justify;text-indent:-4.5pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">1&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:120%">As a result of the growth of our financing receivable program and the ways in which we manage our business, effective this quarter and retroactively, we have reclassified certain balances. Changes in contract liabilities previously presented on a net basis within &#34;contract assets&#34; have been reclassified to &#34;other liabilities&#34;.</font></div><div style="margin-top:5pt;text-align:justify"><font><br></font></div><div id="id133cfed770e469cb2e56b44a04d6fcf_133"></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Investments</font></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.849%"><tr><td style="width:1.0%"></td><td style="width:74.839%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.930%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.931%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">As at<br>December 31</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">As&#160;at</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">December&#160;31</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(In millions of dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</font></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Investments in&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Publicly traded companies</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,535</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,831&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Private companies</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">97</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">107&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Investments, measured at fair value through other comprehensive income</font></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,632</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,938&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Investments, associates and joint ventures</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">904</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">892&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total investments</font></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,536</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,830&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.929%"><tr><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.234%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Rogers Communications Inc.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">39</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fourth Quarter 2020</font></td></tr><tr><td colspan="3" style="display:none"></td></tr></table></div></div></div><div id="id133cfed770e469cb2e56b44a04d6fcf_136"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div style="text-align:justify"><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Long-term debt</font></div><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.849%"><tr><td style="width:1.0%"></td><td style="width:35.140%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.080%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.967%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.321%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.779%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.080%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.933%"></td><td style="width:0.1%"></td></tr><tr style="height:20pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" rowspan="2" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Principal</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">amount</font></div></td><td colspan="3" rowspan="2" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">rate</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">As at<br>December 31</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">As at </font></div><div style="text-align:right"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">December&#160;31</font></div></td></tr><tr style="height:12pt"><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(In millions of dollars, except interest rates)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Due&#160;date</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</font></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Senior notes</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2021</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,450&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.340&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,450</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,450&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Senior notes</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2022</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">600&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.000&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">600</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">600&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Senior notes</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2022</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">US</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">750&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Floating</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">955</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Senior notes</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2023</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">US</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">500&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.000&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">637</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">649&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Senior notes</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2023</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">US</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">850&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.100&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,082</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,104&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Senior notes</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2024</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">600&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.000&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">600</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">600&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Senior notes</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2025</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">US</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">700&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.625&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">890</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">909&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Senior notes</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2026</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">US</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">500&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.900&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">637</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">649&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Senior notes</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2027</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,500&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.650&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,500</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Senior notes</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2029</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.250&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,000</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Senior debentures </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">1</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2032</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">US</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">200&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8.750&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">255</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">260&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Senior notes</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2038</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">US</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">350&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7.500&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">446</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">455&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Senior notes</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2039</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">500&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6.680&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">500</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">500&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Senior notes</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2040</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">800&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6.110&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">800</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">800&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Senior notes</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2041</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">400&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6.560&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">400</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">400&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Senior notes</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2043</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">US</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">500&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.500&#160;</font></td><td style="padding:2px 1pt 2px 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style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Senior notes</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2043</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">US</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">650&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.450&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">827</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">844&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Senior notes</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2044</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">US</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,050&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.000&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,337</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,365&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Senior notes</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2048</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">US</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">750&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.300&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">955</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">973&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Senior notes</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2049</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">US</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,250&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.350&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,592</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,624&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Senior notes</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2049</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">US</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.700&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,273</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,299&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid 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Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Less current portion</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,450)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total long-term debt</font></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">16,751</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15,967&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-top:3pt;padding-left:4.5pt;text-align:justify;text-indent:-4.5pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">1</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.87pt">Senior debentures originally issued by Rogers Cable Inc. which are unsecured obligations of RCI and for which RCCI was an unsecured guarantor as at December&#160;31, 2020 and December&#160;31, 2019.</font></div><div style="text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.929%"><tr><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.234%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Rogers Communications Inc.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">40</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fourth Quarter 2020</font></td></tr><tr><td colspan="3" style="display:none"></td></tr></table></div></div></div><div id="id133cfed770e469cb2e56b44a04d6fcf_139"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div style="text-align:justify"><font><br></font></div></div><div><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:12pt;font-weight:700;line-height:120%">About Forward-Looking Information</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:13pt;font-weight:700;line-height:120%"> </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">This earnings release includes &#34;forward-looking information&#34; and &#34;forward-looking statements&#34; within the meaning of applicable securities laws (collectively, &#34;forward-looking information&#34;), and assumptions about, among other things, our business, operations, and financial performance and condition approved by our management on the date of this earnings release. This forward-looking information and these assumptions include, but are not limited to, statements about our objectives and strategies to achieve those objectives, and about our beliefs, plans, expectations, anticipations, estimates, or intentions.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Forward-looking information&#58;</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">typically includes words like </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">could</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">expect</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">may</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">anticipate</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">assume</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">believe</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">intend</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">estimate</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">plan</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">project</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">guidance</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">outlook, target</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">, and similar expressions, although not all forward-looking information includes them&#59;</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">includes conclusions, forecasts, and projections that are based on our current objectives and strategies and on estimates, expectations, assumptions, and other factors, most of which are confidential and proprietary and that we believe to have been reasonable at the time they were applied but may prove to be incorrect&#59; and</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">was approved by our management on the date of this earnings release.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Our forward-looking information includes forecasts and projections related to the following items, some of which are non-GAAP measures (see &#34;Non-GAAP Measures and Related Performance Measures&#34;), among others&#58;</font></div><div style="width:100.000%"><div style="display:inline-block;vertical-align:top;width:46.396%"><div style="padding-left:18pt;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">revenue&#59;</font></div><div style="padding-left:18pt;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">total service revenue&#59;</font></div><div style="padding-left:18pt;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">adjusted EBITDA&#59;</font></div><div style="padding-left:18pt;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">capital expenditures&#59;</font></div><div style="padding-left:18pt;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">cash income tax payments&#59;</font></div><div style="padding-left:18pt;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">free cash flow&#59;</font></div><div style="padding-left:18pt;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">dividend payments&#59;</font></div><div style="padding-left:18pt;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">the growth of new products and services&#59;</font></div><div style="padding-left:18pt;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">expected growth in subscribers and the services to which they subscribe&#59;</font></div></div><div style="display:inline-block;max-width:7.207%;min-width:6.207%;vertical-align:top"></div><div style="display:inline-block;vertical-align:top;width:46.397%"><div style="padding-left:18pt;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">the cost of acquiring and retaining subscribers and deployment of new services&#59;</font></div><div style="padding-left:18pt;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">continued cost reductions and efficiency improvements&#59;</font></div><div style="padding-left:18pt;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">traction against our debt leverage ratio&#59;</font></div><div style="padding-left:18pt;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">statements relating to plans we have implemented in response to COVID-19 and its impact on us&#59; and</font></div><div style="padding-left:18pt;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">all other statements that are not historical facts.</font></div></div></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Our conclusions, forecasts, and projections are based on the following factors, among others&#58;</font></div><div style="width:100.000%"><div style="display:inline-block;vertical-align:top;width:46.396%"><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">general economic and industry growth rates&#59;</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">currency exchange rates and interest rates&#59;</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">product pricing levels and competitive intensity&#59;</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">subscriber growth&#59;</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">pricing, usage, and churn rates&#59;</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">changes in government regulation&#59;</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">technology deployment&#59;</font></div></div><div style="display:inline-block;max-width:7.207%;min-width:6.207%;vertical-align:top"></div><div style="display:inline-block;vertical-align:top;width:46.397%"><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">availability of devices&#59;</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">timing of new product launches&#59;</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">content and equipment costs&#59;</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">the integration of acquisitions&#59;</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">industry structure and stability&#59; and,</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">the impact of COVID-19 on our operations, liquidity, financial condition, or results.</font></div></div></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Except as otherwise indicated, this earnings release and our forward-looking information do not reflect the potential impact of any non-recurring or other special items or of any dispositions, monetizations, mergers, acquisitions, other business combinations, or other transactions that may be considered or announced or may occur after the date on which the statement containing the forward-looking information is made.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Risks and uncertainties</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Actual events and results can be substantially different from what is expressed or implied by forward-looking information as a result of risks, uncertainties, and other factors, many of which are beyond our control, including, but not limited to&#58;</font></div><div style="width:100.000%"><div style="display:inline-block;vertical-align:top;width:46.396%"><div style="padding-left:18pt;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">regulatory changes&#59;</font></div><div style="padding-left:18pt;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">technological changes&#59;</font></div><div style="padding-left:18pt;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">economic, geopolitical, and other conditions affecting commercial activity&#59;</font></div><div style="padding-left:18pt;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">unanticipated changes in content or equipment costs&#59;</font></div><div style="padding-left:18pt;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">changing conditions in the entertainment, information, and communications industries&#59;</font></div><div style="padding-left:18pt;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">the integration of acquisitions&#59;</font></div><div style="padding-left:18pt;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">litigation and tax matters&#59;</font></div></div><div style="display:inline-block;max-width:7.207%;min-width:6.207%;vertical-align:top"></div><div style="display:inline-block;vertical-align:top;width:46.397%"><div style="padding-left:18pt;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">the level of competitive intensity&#59;</font></div><div style="padding-left:18pt;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">the emergence of new opportunities&#59;</font></div><div style="padding-left:18pt;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">external threats, such as epidemics, pandemics, and other public health crises, natural disasters, the effects of climate change, or cyberattacks, among others&#59; and</font></div><div style="padding-left:18pt;text-indent:-18pt"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:13.25pt">new interpretations and new accounting standards from accounting standards bodies.</font></div><div style="text-align:justify"><font><br></font></div></div></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">These factors can also affect our objectives, strategies, and intentions. Many of these factors are beyond our control or our current expectations or knowledge. Should one or more of these risks, uncertainties, or other factors </font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.929%"><tr><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.234%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Rogers Communications Inc.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">41</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fourth Quarter 2020</font></td></tr><tr><td colspan="3" style="display:none"></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div style="text-align:justify"><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">materialize, our objectives, strategies, or intentions change, or any other factors or assumptions underlying the forward-looking information prove incorrect, our actual results and our plans could vary significantly from what we currently foresee.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Accordingly, we warn investors to exercise caution when considering statements containing forward-looking information and caution them that it would be unreasonable to rely on such statements as creating legal rights regarding our future results or plans. We are under no obligation (and we expressly disclaim any such obligation) to update or alter any statements containing forward-looking information or the factors or assumptions underlying them, whether as a result of new information, future events, or otherwise, except as required by law. All of the forward-looking information in this earnings release is qualified by the cautionary statements herein.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">Before making an investment decision</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Before making any investment decisions and for a detailed discussion of the risks, uncertainties, and environment associated with our business, fully review the &#34;Updates to Risks and Uncertainties&#34; section in this earnings release and fully review the sections in our 2019 Annual MD&#38;A entitled &#34;Regulation in Our Industry&#34; and &#34;Governance and Risk Management&#34;, as well as our various other filings with Canadian and US securities regulators, which can be found at sedar.com and sec.gov, respectively. Information on or connected to sedar.com, sec.gov, our website, or any other website referenced in this document is not part of or incorporated into this earnings release.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%"># # #</font></div><div style="width:100.000%"><div style="display:inline-block;vertical-align:top;width:46.396%"><div style="text-align:justify"><font><br></font></div></div><div style="display:inline-block;max-width:7.207%;min-width:6.207%;vertical-align:top"></div><div style="display:inline-block;vertical-align:top;width:46.397%"></div></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.929%"><tr><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.234%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Rogers Communications Inc.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">42</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Ted Next',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fourth Quarter 2020</font></td></tr><tr><td colspan="3" style="display:none"></td></tr></table></div></div></div></body></html>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
