Mr. Philippe Jette reports

3800 MHZ SPECTRUM AUCTION: COGECO ACQUIRES 99 LICENSES IN QUEBEC AND ONTARIO

Cogeco Communications Inc. has invested $190-million to acquire 99 spectrum licences in the 3,800-megahertz band auction. This investment complements perfectly previously purchased 2,500 MHz and 3,500 MHz licences, and represents a further step toward adding mobile wireless services to Cogeco Communications' offering. Cogeco now has spectrum covering 100 per cent of its Canadian broadband footprint.

"This 5G-ready spectrum investment, obtained at a very advantageous price of 27 cents per MHz-pop, enables Cogeco to pursue its plans for mobile wireless entry in a financially disciplined manner in our markets across Canada," stated Philippe Jette, president and chief executive officer of Cogeco Communications. "We are preparing to launch mobile operations throughout our Canadian footprint by using the recent [mobile virtual network operator] regime established by the [Canadian Radio-television and Telecommunications Commission]. It goes without saying that the latter is contingent on obtaining, through negotiations or arbitration, satisfactory rates for wholesale access to the networks of the major players."

This $190-million investment includes the acquisition of valuable spectrum in the Greater Toronto, Montreal and Ottawa regions to create favourable economic conditions to serve future customers. The remainder of the investment covers spectrum licenxes in several other regions of Ontario, as well as in several regions of Quebec.

About Cogeco Communications Inc.

Rooted in the communities it serves, Cogeco Communications is a growing competitive force in the North American telecommunications sector, serving 1.6 million residential and business customers. Through its business units Cogeco Connexion and Breezeline, Cogeco Communications provides Internet, video and phone services in Canada as well as in 13 states in the United States. Cogeco Communications' subordinate voting shares are listed on the Toronto Stock Exchange.