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8 COGECO CABLE INC. 2013 Management's discussion and analysis (“MD&A”)
FORWARD-LOOKING STATEMENTS
Certain statements in this Management’s Discussion and Analysis (“MD&A”) may constitute forward-looking information within the meaning of
securities laws. Forward-looking information may relate to Cogeco Cable’s future outlook and anticipated events, business, operations, financial
performance, financial condition or results and, in some cases, can be identified by terminology such as "may"; "will"; "should"; "expect"; "plan";
"anticipate"; "believe"; "intend"; "estimate"; "predict"; "potential"; "continue"; "foresee", "ensure" or other similar expressions concerning matters
that are not historical facts. In particular, statements regarding the Corporation’s future operating results and economic performance and its
objectives and strategies are forward-looking statements. These statements are based on certain factors and assumptions including expected
growth, results of operations, performance and business prospects and opportunities, which Cogeco Cable believes are reasonable as of the
current date. While management considers these assumptions to be reasonable based on information currently available to the Corporation, they
may prove to be incorrect. The Corporation cautions the reader that the economic downturn experienced over the past few years makes forward-
looking information and the underlying assumptions subject to greater uncertainty and that, consequently, they may not materialize, or the results
may significantly differ from the Corporation’s expectations. It is impossible for Cogeco Cable to predict with certainty the impact that the current
economic uncertainties may have on future results. Forward-looking information is also subject to certain factors, including risks and uncertainties
(described in the “Uncertainties and main risk factors” section of the present MD&A) that could cause actual results to differ materially from what
Cogeco Cable currently expects. These factors include risks pertaining to markets and competition, technology, regulatory developments, operating
costs, information systems, disasters or other contingencies, financial risks related to capital requirements, human resources, controlling
shareholder and holding structure, many of which are beyond the Corporation’s control. Therefore, future events and results may vary significantly
from what management currently foresees. The reader should not place undue importance on forward-looking information and should not rely
upon this information as of any other date. While management may elect to, the Corporation is under no obligation and does not undertake to
update or alter this information at any particular time, except as may be required by law.
All amounts are stated in Canadian dollars unless otherwise indicated. This report should be read in conjunction with the Corporation’s consolidated
financial statements and the notes thereto, prepared in accordance with the International Financial Reporting Standards (“IFRS”) for the year
ended August 31, 2013.