Financial Data and Key Metrics Changes - In Q2, consolidated service revenue and adjusted EBITDA both grew by 2% year-over-year, with strong margins and free cash flow [6][21][22] - Wireless service revenue and adjusted EBITDA each grew by 1%, with total subscriber net additions of 61,000, including 35,000 postpaid [7][18] - Cable service revenue and adjusted EBITDA increased by 13% respectively, supported by strong retail Internet net additions of 26,000 [8][19] - Media revenue was up 10%, driven by expanded content and strong viewership during the NHL playoffs [8][20] - Free cash flow reached $925 million, a 39% increase year-over-year, due to higher adjusted EBITDA and lower capital intensity [22] Business Line Data and Key Metrics Changes - Wireless: Service revenue and adjusted EBITDA grew by 1%, with churn improving to 1% and blended mobile phone ARPU at $55.45, down 3% from the prior year [18][19] - Cable: Service revenue increased by 1%, with adjusted EBITDA up 3% year-over-year, driven by steady retail internet subscriber growth and cost efficiency initiatives [19][20] - Media: Revenue increased by 10% to over $800 million, with improved EBITDA driven by NHL playoffs and higher Toronto Blue Jays revenue [20][21] Market Data and Key Metrics Changes - The wireless market is expected to grow about 3% for the full year, with Q2 growth estimated at around 2.5% [55] - The competitive environment remains intense, impacting ARPU and subscriber growth, but the company is focused on improving customer retention and value propositions [56][57] Company Strategy and Development Direction - The company is focused on deleveraging and maintaining an investment-grade balance sheet while investing in growth [5][24] - The acquisition of a 75% controlling interest in MLSE is expected to unlock significant value in sports and media assets, with a pro forma estimate of $3.9 billion in revenue for 2025 [5][26] - The company aims to monetize its sports assets and strengthen its balance sheet, with ongoing discussions about various options [41][42] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about returning to growth in cable and maintaining discipline in wireless and media segments [4][6] - The company highlighted the importance of government leadership in fostering competition and investment in the telecommunications sector [15][16] - Future guidance for 2025 reflects a service revenue growth expectation of 3% to 5%, with adjusted EBITDA unchanged at 0% to 3% [27][28] Other Important Information - The company launched satellite to mobile texting, expanding coverage significantly across Canada [10][11] - Capital expenditures decreased by 17% year-over-year, reflecting a focus on lowering capital intensity while investing in network infrastructure [22][23] Q&A Session Summary Question: Update on 2025 guidance and core telecom outlook - Management confirmed that the updated guidance reflects the inclusion of MLSE and shows a return to growth in cable and continued growth in wireless [31] Question: MLSE performance expectations - Management indicated that it is too early to provide specific guidance for MLSE's performance but emphasized the clean aggregation of businesses for 2025 [34][36] Question: Monetization of sports assets - Management acknowledged significant underlying value in sports assets and is focused on monetizing them to strengthen the balance sheet [41][42] Question: Sustainability of cable EBITDA growth - Management expressed confidence in the sustainability of cable growth due to market share performance and ongoing cost efficiency initiatives [43][44] Question: Competitive environment in wireless - Management noted that the wireless market is experiencing lower growth due to reduced immigration but remains optimistic about subscriber growth and ARPU improvement [55][56] Question: Wireless roaming impact on service revenue - Management highlighted that roaming has been a headwind but expects travel to pick up, which could positively impact service revenue [61][62] Question: CapEx profile and potential reductions - Management indicated a focus on driving lower capital intensity in cable, with ongoing efforts to prioritize investments [102][103] Question: Multi-line discounts impact on ARPU - Management stated that while multi-line discounts may dilute ARPU, they are expected to generate incremental service revenue [110][111] Question: Synergies related to MLSE deal - Management confirmed that it is too early to discuss specific synergies from the MLSE deal, but planning is underway [112][113]

MANAGEMENT'S DISCUSSION AND ANALYSIS Exhibit 99.1 This Management's Discussion and Analysis (MD&A) contains important information about our business and our performance for the three and six months ended June 30, 2025, as well as forward-looking information (see "About Forward-Looking Information") about future periods. This MD&A should be read in conjunction with our Second Quarter 2025 Interim Condensed Consolidated Financial Statements (Second Quarter 2025 Interim Financial Statements) and notes thereto, ...

Financial Outlook - Rogers Communications increased its 2025 revenue outlook [1] Business Development - Rogers Communications acquired control of Toronto's basketball and hockey teams [1]

Q2 2025 Results July 23, 2025 1 Cautionary note The following materials are for presentation purposes only. They accompany the discussions held during Rogers Communications Inc.'s (Rogers) investor conference call on July 23, 2025. Certain statements made in this presentation, including, but not limited to, statements relating to expected future events, financial and operating results, guidance, objectives, plans, strategic priorities and other statements that are not historical facts, are forward-looking. ...

Core Insights - Rogers Communications Inc. reported strong financial performance in the second quarter of 2025, with growth across Wireless, Cable, and Media segments, and significant free cash flow generation [5][6][25] - The company completed a transformational investment by acquiring a 37.5% stake in Maple Leaf Sports & Entertainment (MLSE), increasing its ownership to 75% [3][14] - The updated 2025 outlook reflects the impact of the MLSE acquisition, with total service revenue expected to grow by 3% to 5% [7][21] Financial Performance - Total revenue for Q2 2025 was CAD 5,216 million, a 2% increase from CAD 5,093 million in Q2 2024 [8][41] - Total service revenue also increased by 2% to CAD 4,668 million, with adjusted EBITDA rising by 2% to CAD 2,362 million [8][41] - Free cash flow reached CAD 925 million, up 39% year-over-year [6][31] Segment Performance Wireless - Wireless service revenue increased by 1% to CAD 1,999 million, with adjusted EBITDA rising by 1% to CAD 1,305 million [44][41] - The company added 61,000 mobile phone subscribers, including 35,000 postpaid subscribers, with a postpaid churn rate of 1.00% [6][46] - Mobile phone blended ARPU was CAD 55.45, reflecting competitive market conditions [6][46] Cable - Cable service revenue increased by 1% to CAD 1,961 million, with adjusted EBITDA up 3% to CAD 1,147 million [52][41] - Retail Internet net additions were strong, with 26,000 new subscribers [6][52] - The company reported a decrease in video subscribers, with net losses of 25,000 [52][56] Media - Media revenue surged by 10% to CAD 808 million, driven by expanded content and strong NHL playoff audiences [6][63] - Adjusted EBITDA for the Media segment was CAD 5 million, a significant improvement from a loss in the previous year [63][41] - The company aims to unlock value from its sports assets, including the newly acquired MLSE [14][17] Strategic Developments - The company has made significant investments in network infrastructure, including the deployment of 5G technology and expansion of fibre networks [11][68] - Rogers became the first Internet provider in Canada to deliver WiFi 7, enhancing customer experience [11] - The company is focused on bridging the digital divide by expanding its network into underserved areas [69][70] Capital Expenditures - Total capital expenditures for Q2 2025 were CAD 831 million, a decrease of 17% from CAD 999 million in Q2 2024 [65][41] - The company continues to prioritize capital investments in network development and efficiency [70][71] - Capital intensity decreased to 15.9% from 19.6% year-over-year, reflecting improved capital management [65][73]

TORONTO, July 21, 2025 (GLOBE NEWSWIRE) -- Rogers Communications Inc. (“Rogers” or the “Company”) (TSX: RCI.A and RCI.B; NYSE: RCI) announced the pricing terms of its previously announced separate offers (the “Offers”) to purchase for cash up to the Maximum Purchase Amount (as defined in the Offer to Purchase dated July 11, 2025 (the “Offer to Purchase”), as previously amended) of its outstanding notes of the series listed in the table below (collectively, the “Notes”). The Offers The Offers were made upon ...

Core Viewpoint - Rogers Communications Inc. has announced the results of its cash tender offers for certain series of senior notes, increasing the maximum purchase amount to accept all tendered notes in full, along with a portion of another series [1][3]. Summary by Sections Offers - The tender offers were made under specific terms and conditions, with the expiration date set for July 18, 2025 [2]. - The total principal amount validly tendered was C$2,168,414,000, with no withdrawals prior to the expiration date [3]. Notes Information - The company expects to accept the following amounts of notes: - C$274.4 million of 4.25% Senior Notes due 2049 - C$289.7 million of 2.90% Senior Notes due 2030 - C$340.5 million of 3.30% Senior Notes due 2029 - C$300.0 million of 3.25% Senior Notes due 2029 [12]. Pricing and Settlement - Pricing for the notes is expected to occur on July 21, 2025, with the settlement date anticipated for July 23, 2025 [7][8]. - An accrued coupon payment will also be made for the accepted notes, and interest will cease to accrue on the settlement date [8]. Dealer Managers - The company has appointed Merrill Lynch Canada Inc., RBC Dominion Securities Inc., Scotia Capital Inc., and TD Securities Inc. as joint lead dealer managers for the offers [9].

Core Points - Rogers Communications Inc. announced an increase in the aggregate Total Consideration for its cash Offers to purchase outstanding notes from US$1,250,000,000 to US$1,400,000,000 [1] - The Offers were made for eight separate series of Senior Notes, with the intention to accept all validly tendered notes prior to the Expiration Date [1][2] - The Expiration Date for the Offers was July 18, 2025, with a Guaranteed Delivery Date set for July 22, 2025, and a Settlement Date of July 23, 2025 [3] Offer Details - A total of US$2,765,201,000 in aggregate principal amount of Notes were validly tendered before the Expiration Date [4] - The Company accepted for purchase US$1,707,133,000 in aggregate principal amount of Notes, excluding those delivered under Guaranteed Delivery Procedures [7] - Notes with Acceptance Priority Levels 1 through 5 were accepted, while those with Levels 6 through 8 were not accepted for purchase [7] Financial Information - The Total Consideration for each series of Notes is specified per US$1,000 principal amount of validly tendered Notes [7] - Holders of accepted Notes will receive cash payments equal to the Total Consideration and accrued interest up to the Settlement Date [9] - The Company has engaged BofA Securities, Citigroup Global Markets, Mizuho Securities, and Wells Fargo Securities as joint lead dealer managers for the Offers [10]

Core Viewpoint - Rogers Communications Inc. has announced cash offers to purchase outstanding notes up to a maximum of US$1,250,000,000, with specific terms and conditions outlined in the Offer to Purchase [1][2][10] Summary by Relevant Sections Offer Details - The Offers are subject to the terms and conditions set forth in the Offer to Purchase dated July 11, 2025, and the notice of guaranteed delivery [2] - The Offers will expire at 5:00 p.m. (Eastern time) on July 18, 2025, unless extended or terminated earlier [5] - Holders can withdraw their notes at any time before the expiration date [5] Total Consideration - The Total Consideration for each series of notes has been specified, with the highest being US$814.59 for the 4.350% Senior Notes due 2049 [3][4] - The Total Consideration is calculated based on the reference yield and spread over U.S. Treasury securities [4] Acceptance Priority Levels - Notes will be accepted based on the Acceptance Priority Levels, with no proration for any series of notes accepted [1][10] - The company reserves the right to increase or waive the Consideration Cap Amount at its discretion [10] Payment and Settlement - Holders whose notes are accepted will receive the Total Consideration in cash on the Settlement Date, expected to be July 23, 2025 [7][8] - In addition to the Total Consideration, holders will receive accrued and unpaid interest up to the Settlement Date [9] Dealer Managers and Agents - BofA Securities, Citigroup Global Markets, Mizuho Securities, and Wells Fargo Securities are acting as joint lead dealer managers for the Offers [11] - D.F. King & Co., Inc. is the Information and Tender Agent for the Offers [12] Company Overview - Rogers Communications Inc. is a leading communications and entertainment company in Canada, publicly traded on the TSX and NYSE [21]

Core Points - Rogers Communications Inc. announced the pricing terms for its separate cash offers to purchase outstanding notes, with a maximum aggregate total consideration of US$1,250,000,000 [1][11] - The offers are subject to conditions outlined in the Offer to Purchase dated July 11, 2025, and will expire at 5:00 p.m. (Eastern time) on July 18, 2025 [2][6] Offer Details - The total consideration for each series of notes has been calculated based on fixed spreads and U.S. Treasury reference yields as of July 18, 2025 [3][12] - The acceptance priority levels for the notes are specified, with a total of six series of senior notes listed, each with different principal amounts and total considerations [4][5] Payment and Settlement - Holders of notes accepted for purchase will receive the total consideration in cash on the settlement date, expected to be July 23, 2025, unless extended [8][9] - In addition to the total consideration, holders will receive accrued and unpaid interest from the last payment date to the settlement date [10] Conditions and Procedures - The company reserves the right to accept notes based on their acceptance priority levels, and conditions must be satisfied for the offers to proceed [11][13] - Holders must ensure they meet the deadlines for tendering notes and may withdraw their tenders before the expiration date [6][17]