Cable One : 2023 Second Quarter Earnings Call - Reconciliation of Non-GAAP Financial Measures

2023 Second Quarter

Earnings Conference Call

Reconciliations of Non-GAAP Financial Measures

August 3, 2023

Use of Non-GAAP Financial Measures

Cable One, Inc. (the "Company") uses certain measures that are not defined by generally accepted accounting principles in the United States ("GAAP") to evaluate various aspects of its business.

Business Services Revenues Excluding the Divested Managed IT Operations and Total Revenues Excluding the Divested Managed IT Operations are non-GAAPfinancial measures and should be considered in addition to, not as superior to, or as a substitute for, the corresponding revenues in accordance with GAAP. Such non-GAAPfinancial measures are reconciled to the corresponding GAAP revenues in the following slides.

Business Services Revenues Excluding the Divested Managed IT Operations is defined as the Company's GAAP business services revenues less the revenues associated with the Managed IT operations divested on May 20, 2022.

Total Revenues Excluding the Divested Managed IT Operations is defined as the Company's GAAP total revenues less the revenues associated with the Managed IT operations divested on May 20, 2022.

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Reconciliations of Non-GAAP Financial Measures

(dollars in millions)1,2	Three Months Ended June 30,
	2023			2022			$ Change		% Change
Business Services Revenues:
Consolidated	$	77	$	77	$	0	0.2 %
Less: Managed IT operations		-			(1)
Business Services Revenues Excluding the Divested Managed IT Operations	$	77		$	76	$	1	1.6 %
Total Revenues:
Consolidated	$	424	$	429	$	(5)	(1.2)%
Less: Managed IT operations		-			(1)
Total Revenues Excluding the Divested Managed IT Operations	$	424	$	428	$	(4)	(0.9)%

• See the "Use of Non-GAAP Financial Measures" slide for further information.

• All totals, changes and percentages are calculated using exact numbers. Minor differences may exist due to rounding.

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