2013 HIGHLIGHTS MANAGEMENT’S DISCUSSION  AN D ANALYSIS 1 As adjusted amounts, pre-tax free cash flow, after-tax cash flow and adjusted net debt are Non-GAAP measures and should not be considered as a substitute or alternative for GAAP measures. They 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 “Non-GAAP Measures” for information about these measures, including how we calculate them. 2 As defined. See “Additional GAAP Measures”. 3 As defined. See “Key Performance Indicators ”. 2013 ANNUAL REPORT ROGERS COMMUNICATIONS INC. 27 Key Performance Indicators Years ended December 31 (In millions of dollars, except per share amounts) 2013 2012 % Chg Consolidated Operating revenue $ 12,706 $ 12,486 2 As adjusted 1 : Operating profit $ 4,993 $ 4,834 3 Operating profit margin 39.3 % 38.7 % Net income $ 1,769 $ 1,781 (1) Diluted earnings per share 3.42 3.41 – Operating income 2 2,926 2,766 6 Net income 1,669 1,725 (3) Basic earnings per share from continuing operations 3.24 3.32 (2) Diluted earnings per share from continuing operations 3.22 3.30 (2) Cash provided by operating activities 3,990 3,421 17 Pre-tax free cash flow 1 2,044 2,029 1 After-tax free cash flow 1 1,548 1,649 (6) Wireless Operating revenue $ 7,270 $ 7,280 – Adjusted operating profit 3,157 3,063 3 Adjusted operating profit margin as % of network revenue 46.8 % 45.6 % Cable Operating revenue $ 3,475 $ 3,358 3 Adjusted operating profit 1,718 1,605 7 Adjusted operating profit margin 49.4 % 47.8 % Business S olutions Operating revenue $ 374 $ 351 7 Adjusted operating profit 106 89 19 Media Operating revenue $ 1,704 $ 1,620 5 Adjusted operating profit 161 190 (15) Key Financial Information Years ended December 31 2013 2012 % Chg S ubscriber counts results (000s) 3 Wireless subscribers 9,503 9,437 1 Television subscribers 2,127 2,214 (4) Internet subscribers 1,961 1,864 5 Phone subscribers 1,153 1,074 7 Additional Wireless metrics 3 Wireless blended ARPU $ 59.58 $ 59.79 – Wireless churn 1.24 % 1.29 % Ratios Dividend payout ratio 3 54 % 48 % Dividends as a percentage of pre-tax free cash flow 1 44 % 40 % Return on assets 3 7.1 % 8.6 % Adjusted net debt/adjusted operating profit 1,3 2.4 2.3 Employee-related information Total active employees 28,026 26,801 5