Liberty Latin America : Communications PR Holding LP Interim Financial Statements - June 30, 2023

Liberty Communications PR Holding LP

Condensed Consolidated Financial Statements

June 30, 2023

Liberty Communications PR Holding LP

1550 Wewatta Street, Suite 710

Denver, Colorado 80202

Liberty Communications PR Holding LP

TABLE OF CONTENTS

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CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Condensed Consolidated Balance Sheets as of June 30, 2023 and December 31, 2022 (unaudited) ...................

Condensed Consolidated Statements of Operations for the Three and Six Months Ended June 30, 2023 and

2022 (unaudited) ................................................................................................................................................

Condensed Consolidated Statements of Equity for the Three and Six Months Ended June 30, 2023 and 2022

(unaudited) .........................................................................................................................................................

Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2023 and 2022

(unaudited) .........................................................................................................................................................

Notes to Condensed Consolidated Financial Statements (unaudited) ...................................................................

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF

OPERATIONS ...........................................................................................................................................................

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GLOSSARY OF DEFINED TERMS

Unless the context requires otherwise, references to "Liberty PR", "we," "our," "our company" and "us" in this quarterly report may refer to Liberty Communications PR Holding LP or collectively to Liberty Communications PR Holding LP and its subsidiaries. We have used several other terms in this quarterly report, most of which are defined or explained below.

2022 Annual Report	Annual Report for the year ended December 31, 2022
2027 LPR Senior Secured Notes	$1.2 billion aggregate principal amount 6.75% senior secured notes due October 15,
	2027 issued by LCPR Senior Secured Financing
2028 LPR Term Loan	$620 million principal amount LIBOR (or, for interest periods commencing after June
	30 2023, a SOFR-based adjusted benchmark rate) + 3.75% term loan facility due
	October 15, 2028 issued by LCPR Loan Financing
2029 LPR Senior Secured Notes	$820 million principal amount 5.125% senior secured notes due July 15, 2029 issued
	by LCPR Senior Secured Financing
Adjusted OIBDA	Operating income or loss before share-based compensation, depreciation and
	amortization, related-party fees and allocations, provisions and provision releases
	related to significant litigation and impairment, restructuring and other operating
	items. Other operating items include (i) gains and losses on the disposition of long-
	lived assets, (ii) third-party costs directly associated with successful and unsuccessful
	acquisitions and dispositions, including legal, advisory and due diligence fees, as
	applicable, and (iii) other acquisition-related items, such as gains and losses on the
Adjusted Term SOFR	settlement of contingent consideration.
SOFR U.S. dollar denominated loans adjusted as follows: (i) 0.11448% for a one-
	month interest period, (ii) 0.26161% for a three-month interest period and (iii)
	0.42826% for a six-month interest period
ARPU	Average monthly subscription revenue per average fixed RGU or mobile subscriber,
	as applicable
ASU	Accounting Standards Update
AT&T	AT&T Inc.
AT&T Acquired Entities	Collectively, Liberty Mobile Inc., Liberty Mobile Puerto Rico Inc. and Liberty
	Mobile USVI Inc.
AT&T Acquisition	October 31, 2020 acquisition of all of the outstanding shares of the AT&T Acquired
	Entities
B2B	Business-to-business
Broadband VI	Broadband VI, LLC
BBVI Acquisition	December 31, 2021 acquisition of 96% of Broadband VI, LLC
C&W	Cable & Wireless Communications Limited and its subsidiaries
Cayman Holding	LCPR Cayman Holding Inc.
CIP	Construction-in-process
CPE	Customer premises equipment
FASB	Financial Accounting Standards Board
FCC	United States Federal Communications Commission
FCPA	United States Foreign Corrupt Practices Act of 1977, as amended
LCPR	Liberty Communications of Puerto Rico LLC
LCPR Loan Financing	LCPR Loan Financing LLC, a consolidated special purpose financing entity that was
	created for the primary purpose of facilitating the issuance of certain term loan debt.
	LCPR is required to consolidate LCPR Loan Financing as a result of certain variable
	interests in LCPR Loan Financing, for which LCPR is considered the primary
LCPR Senior Secured Financing	beneficiary.
LCPR Senior Secured Financing Designated Activity Company, a consolidated
	special purpose financing entity that was created for the primary purpose of
	facilitating the issuance of certain debt offerings. Liberty Mobile is required to
	consolidate LCPR Senior Secured Financing as a result of certain variable interests in
	LCPR Senior Secured Financing, of which Liberty Mobile is considered the primary
	beneficiary.
LCPR Ventures	LCPR Ventures LLC

	GLOSSARY OF DEFINED TERMS - (Continued)
Liberty Latin America	Liberty Latin America Ltd.
Liberty Mobile	Liberty Mobile Inc. and it subsidiaries
Liberty PR	Liberty Communications PR Holding LP and its subsidiaries, which include LCPR
	and Liberty Mobile and its subsidiaries
LIBOR	London Inter-Bank Offered Rate
LiLAC Services	LiLAC Services Ltd.
LiLAC Services Receivable	$402 million aggregate principal amount loan issued by LCPR Ventures to LiLAC
	Services with a weighted average interest rate of 6.12%; $32 million due December
	23, 2025 and $371 million due July 15, 2029
LLA Holdco	LLA Holdco LLC
LPR Credit Facilities	Senior secured credit facilities comprised of: (i) 2028 LPR Term Loan; and (ii) LPR
LPR Revolving Credit Facility	Revolving Credit Facility
$173 million LIBOR (or, for interest periods commencing after June 30, 2023, a
	SOFR-based adjusted benchmark rate) + 3.5% revolving credit facility due March 15,
	2027
LPR Senior Secured Notes	Senior secured notes comprised of: (i) 2029 LPR Senior Secured Notes; and (ii) 2027
OFAC	LPR Senior Secured Notes
Office of Foreign Assets Control
RGU	Revenue generating unit
Senior Secured Covenant Group	LCPR and LLA Holdco and its subsidiaries
SOFR	Reference rate based on secured overnight financing rate administered by the Federal
U.S	Reserve Bank of New York
United States
U.S. GAAP	Generally accepted accounting principles in the United States
Weather Derivatives	Weather derivative contracts that provide insurance coverage for certain weather-
	related events

LIBERTY COMMUNICATIONS PR HOLDING LP

CONDENSED CONSOLIDATED BALANCE SHEETS

(unaudited)

		June 30,		December 31,
		2023			2022
		in millions
ASSETS
Current assets:
Cash and cash equivalents	$	13.5	$	72.3
Trade receivables, net		93.8			112.5
Current notes receivable, net		57.7			57.8
Other current receivables		75.6			59.2
Prepaid expenses		27.3			25.9
Current derivative assets		28.1			16.6
Inventory, net		42.2			31.5
Current contract assets, net		35.2			34.1
Other current assets, net		64.7			58.0
Total current assets		438.1			467.9
Property and equipment, net		1,179.6			1,193.0
Goodwill		501.1			501.1
Intangible assets not subject to amortization		1,592.6			1,592.6
Customer relationships, net		62.3			66.7
Related-partynotes receivable		402.1			384.5
Other assets, net		453.5			444.9
Total assets	$	4,629.3	$	4,650.7
LIABILITIES AND PARTNERS' CAPITAL
Current liabilities:
Accounts payable	$	170.2	$	257.1
Deferred revenue		40.9			37.0
Accrued interest		38.8			37.4
Current portion of operating lease liabilities		26.4			27.1
Current portion of debt and finance lease obligations		33.1			17.4
Other accrued and current liabilities		147.2			149.2
Total current liabilities		456.6			525.2
Long-termdebt and finance lease obligations		2,580.8			2,577.4
Deferred tax liabilities		492.8			482.2
Other long-termliabilities		224.4			221.3
Total liabilities		3,754.6			3,806.1
Commitments and contingencies
Equity:
Partners' capital		873.9			844.0
Noncontrolling interests		0.8			0.6
Total equity		874.7			844.6
Total liabilities and equity	$	4,629.3	$	4,650.7

The accompanying notes are an integral part of these condensed consolidated financial statements.

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