Colt is a provider of information and communication solutions across technologies and global cities. The presentation discusses Colt's business model, services, assets, strategic priorities, and growth initiatives. It provides an overview of Colt's financial performance and outlines its focus on profitable growth while improving cost efficiency and cash flow. The summary also notes Colt's acquisition of KVH Asia to expand its network and data center capabilities in the Asia region.

1. Colt
Investor presentation
March 2015
© 2015 Colt Technology Services Group Limited. All rights reserved.

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Forward looking statements
This presentation contains 'forward-looking statements' including statements concerning plans,
future events or performance and underlying assumptions and other statements which are other
than statements of historical fact. Colt Group S.A., ("the Group"), wishes to caution readers that any
such forward looking statements are not guarantees of future performance and certain important
factors could in the future affect the Group's actual results and could cause the Group's actual
results for future periods to differ materially from those expressed in any forward looking statement
made by or on behalf of the Group. These include, among others, the following: (i) any adverse
change in regulations and technology within the IT services and communications industries, (ii) the
Group's ability to manage its growth, (iii) the nature of the competition that the Group will encounter
and wider economic conditions including economic downturns and (iv) unforeseen operational or
technical problems. The Group undertakes no obligation to release publicly the results of any
revision to these forward looking statements that may be made to reflect errors or circumstances
that occur after the date hereof.
No statement in this presentation is intended to be a profit forecast or to imply that the earnings of
the Group for the current year or future years will necessarily match or exceed historical or published
earnings.
This presentation is for information purposes only and does not constitute an offering of
securities. This presentation is not intended to provide the basis for any credit or other evaluation of
any securities of the Group and should not be considered as a recommendation that any person
should subscribe for, dispose of or purchase any such securities or enter into any other transaction
with the Group or any other person.

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47
Metropolitan
area networks
(MANs)
18
of the top 25 bank
and diversified
financial groups
29
Managed data centres
globally, 22 in Europe
and seven in Asia
19
of the top 25 companies
in both global media and
telecoms industries
50
Financial exchanges
13
European central banks
Colt provides a range of information and
communication services to enterprises across
cities in Europe, Asia and North America
We serve thousands of companies With Colt-owned infrastructure in 28 countries
205
Connected
cities
521
Connected
third party
data centres
22,000
Direct fibre
connected
buildings
86
Countries where
Colt provides a
service to customers

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Colt directly serves thousands of enterprise and
wholesale customers, and indirectly serves SMEs via
channel partners
Key value drivers for customers are flexibility, security,
reliability and seamless delivery across technologies and
geographies
We focus on:
1. serving information intensive businesses, in key cities;
2. delivering exceptional customer experience; and
3. getting the most from our assets (international breadth
and local depth of infrastructure, and our people)
We provide a range of individual services to seamlessly
integrated solutions in network, voice, data centre and IT
Our global operations are supported by shared service
centres. As we expand to new cities, this structure
provides the opportunity to improve operational efficiency
and profitability
Our balance sheet can support necessary organic and
inorganic investments. Dividends are not a priority as we
invest in the full execution of our strategy
Business model

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Recent financial evolution

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Our services
47 MANs, 28 countries
205 connected cities
>22,000 directly fibred
buildings
521 connected third party data
centres
Backed by
Network
We provide
Access & Bandwidth
ethernet P2P
link (SDH)
high speed services
dark fibre, wavelengths
internet access
broadcast services
Managed networking
EPN, IPVPN
29 Colt managed data centres
with 22 in Europe and 7 in Asia
• 52,500 m2 built out white
space
• 77% utilised white space
• 53 MW built out power
Backed by
Data Centre
We provide
Colocation
from specific rack space to
entire data centre halls
Most expansive cloud
infrastructure in Europe
Sites in UK, France,
Germany, Spain, Italy, the
Netherlands and Hong Kong
99.9% platform availability
Backed by
IT
We provide
Infrastructure
private, hybrid and multi
tenant solutions
professional services
infrastructure management
Platforms
Workloads
Over 20 billion voice
minutes on TDM platform
Both legacy TDM and next
generation VoIP platforms,
helping customers with the
transition
Backed by
Voice
Enterprise Voice
voice line
conferencing
VAS
VoIP
IN services
unified communications
Wholesale Voice
We provide

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Portfolio mix evolution
Cloud
services
Managed
networking
(Voice & Data)
Colocation
services
Legacy
voice
(MTR/FTR c€23m
revenue impact and
c€13m EBITDA impact
in 2014)
Legacy
bandwidth
(SDH now <8% of
Network Services
revenue. High margin
product)
Ethernet
Legacy
hosting

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Our global network and IT infrastructure

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Our strategic priorities
Business
services
Capital
markets
Media
Fixed line
carriers
Cloud
providers
Automate our service
and delivery model
Global cities
Focus on information intensive industries and geographies
Better leverage our existing infrastructure
Making it easier for our customers to do business with us
Operate seamlessly and
transparently across
technologies and geographies
Offer the most flexible
and efficient services
Markets
Customers
Assets
Mobile network
operators
Maximise utilisation of our
network infrastructure
More efficient use of voice platforms
for higher margin enterprise voice
Better fill rates in our existing
data centre estate
Optimising IT services on
fewer platforms

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* Profit / Loss is EBITDA margin as a percentage of revenue
** Cash generation / consumption is EBITDA less capex
Network
Services
IT
Services
Cash
generation**
Cash
consumption**
Profit*
Loss*
Data
Centre
Services
Revenue: €841.5m
EBITDA: €234.8m 28%
Capex: €164.6m
Revenue: €120.2m
EBITDA: €27.4m 23%
Capex: €29.2m
Revenue: €77.8m
EBITDA: -€25.8m -33%
Capex: €24.9m
Voice
Services
Revenue: €452.1m
EBITDA: €60.3m 13%
Capex: €11.7m
Revenue: €144.6m
EBITDA: €17.4m 12%
Capex: €23.1m
(all pro-forma numbers)
Revenue: €1,495.5m
EBITDA: €297.1m 19.9%
Capex: €245.5m
Lines of business performance in 2014

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Growth initiatives
Network services
Competitors
• Mitigating margin pressures by increasing
utilisation of our existing infrastructure
• Focus on information intensive verticals –
capital markets and media teams created
• Bring cloud service providers on-net
• Provide mobile backhaul to MNOs – first
contracts won and discussion with others
• Expand network footprint to new cities
Profitable and cash generative, but…
• Flat revenue growth
• Mix evolution impact on margin
• Underutilisation of our assets
Incumbents: BT, DT, Orange, TEF
Global altnets: Level 3
Financials
Regional altnets: euNetworks, Interoute
Local altnets: cable operators, Versatel
Managed networking, Ethernet, IPVPN
SDH (now <8% of total NS revenue)
Value proposition
• Combination of local depth and international breadth means we can provide appropriate
solutions from basic point-to-point services and internet access to end-to-end managed
network solutions
• Business grade quality of service and flexibility required by enterprise customers

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Growth initiatives
Voice services
Competitors
• Withdrawal from low margin business
• Support customers in migration from TDM
infrastructure to converged IP access
• Increase focus on:
• Enterprise voice
• Intelligent networking
• VoIP / SIP trunking
• Unified communications
Focus on cash generation, but…
• Regulatory impact on revenue and profits
• Opportunity to maximise our platform
Incumbents: BT, DT, Orange, TEF
Global altnets: Level 3
Financials
Local altnets: cable, Versatel
Mobile players, voice OTT and
applications: Skype, Microsoft Lync
Value proposition
IP products, IN, apps
Legacy TDM voice
• Focus on multi-country provision
• Delivering consistent end-to-end customer experience across Western Europe and Asia to
enterprise and wholesale customers

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Growth initiatives
Data centre services
Competitors
• Vertical focus on financial, business
services, media, cloud providers and
systems integrators
• Increased focus on colocation
• New cities (tier 2 in Europe, tier 1 outside
Europe)
• Development of product and value
propositions for Cloud enablement
• Enhanced carrier neutrality
Profitable and cash generative, but…
• Has not invested at the same rate as the
market
• Need to maximise use of our assets
• Growth impacted by historical defocus from
colocation
Wholesale: Digital Realty, Coresite, Dupont Fabros
Retail colocation: Telecity, Interxion, Equinix
Local operators
Financials
Value proposition
Colocation
ftec and installations
• Energy efficient, resilient facilities with advanced technology, run by local teams in multiple
locations
• Capacity on demand so customers can scale where needed, with flexible commercial terms
• Location is key. Colt operates 29 data centres globally, with 22 in Europe and 7 in Asia and
Colt also directly connects to a further 521 third party data centres
• Low PUE of 1.21 in our latest generation data centres

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Growth initiatives
IT services
Competitors
• Leverage strong product reputation
• Narrowing focus of our platforms to match
customer propositions
• Portfolio of reusable standard components
• Focus on key geographies
• Rightsize and transform cost base
• Key propositions only: enterprise
application hosting; mission critical
webhosting and end user services
Unprofitable - in transformation
• Invested in product components and
service capability underpinning our cloud-
based platforms in Europe and Asia
• Cost base too high for revenue
• Not leveraging our platforms sufficiently
Outsourcers: Infosys, Wipro, Accenture
Enterprise hosting: Savvis, Terremark,
Rackspace
Financials
Public cloud: AWS, Google, Azure
Regional App hosting: Phoenix,
Attenda, Pironet, Claranet
Cloud – private / hybrid / shared
Legacy hosting
Asset sales, installations and
professional services
Value proposition
• Transition customers from capex intensive DIY to flexible, opex-based outsourced IT
• Integrate cloud with traditional hosting, managing both old and new technologies in one
seamless service
• Customers benefit from our multiple locations across Europe and Asia, meaning customer
can ensure their data is where it needs to be, secure and fully compliant with regulations
1 Gartner, Magic Quadrant for Cloud-Enabled Managed Hosting, Europe, Tiny Haynes, Gianluca Tramacere, Lydia Leong, Gregor Petri, Douglas Toombs, Bob Gill; July 2014. Gartner does not endorse any
vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications
consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any
warranties of merchantability or fitness for a particular purpose
Colt
recognised
as
a
“Leader”
in
Gartner’s
Magic
Quadrant
for
Cloud-Enabled
Managed
Hosting,
Europe
1

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Colt in Asia
• KVH Asia acquisition completed and
consolidated from 22 December 2014
• Acquired for €128m cash
• Adds Asia network and data centre capability
to Group: (data centres in Tokyo (x3), Osaka,
Hong Kong, Singapore, and Busan)
• Delivering expected revenue growth and
profitability
• Full run rate annual cost and capex synergies
of €8.5m by 2017
• + revenue synergy potential
• Medium term targets of:
mid-to-high single digit % revenue growth and
EBITDA to return to historical 20%+ levels
€ millions FY 2014
Revenue
(proforma)
145 8% p
Consolidated 3.9
EBITDA
(proforma)
17 (12)% q
Consolidated 0.4
Capex
(proforma)
23 41% p
YOY change

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Looking to the future
* Profit / Loss is EBITDA margin as a percentage of revenue
** Cash generation / consumption is EBITDA less capex
Network
Services
IT
Services
Cash
generation**
Cash
consumption**
Profit*
Data
Centre
Services
Voice
Services
We are focused on:
• Profitable revenue growth
• Cost and capex control to deliver positive FCF

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Continued improvement in reputation with customers
• Aim to be the most customer oriented
business in our industry
• Year on year improvements but more work to
do to become best in class

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Colt Corporate Social Responsibility
Colt’s CSR programme, 2015 targets:
Environment
Customers and suppliers
People
Community
• Drive a further 1.5GWh power efficiency
• Increase audio and video conferencing usage by 5% to mitigate business travel
• Maintain ISO 14001 certification and deliver continuous improvements
• Continue to improve our customer experience, demonstrate through further increase our Net Promoter Score
• Continued assessment of our top strategic suppliers and share best practices
• Conduct annual survey with greater benchmark information and granularity of analisys
• Maintain alignment to 18001 and continue to drive system improvements across our portfolio
• Increase annual volunteering hours to 10,000 by 2015

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Investment history
• “City of London Telecommunications” established in 1992, funded by Fidelity
Investments.
• UK PTO licence awarded and 1st customer connected in London in 1993
• IPO on LSE and NASDAQ in 1996
• £1.5bn debt raised from 1996-2001
• £499m equity raised in 2001
• Open offer in 2006 raised $560m
• Open offer in 2009 raised $253m, final debt repaid
• Revolving credit facility for €150m raised in 2014
• KVH acquired for €128m in December 2014

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In summary, Colt is…
A seamless provider of information and communication solutions
across technologies and global city geographies
• with scalable assets and systems
Focused on
• information intensive businesses, and geographies (cities)
• exceptional customer experience
• efficient utilisation of our assets
A growth business
• we will continue to invest for profitable growth…
• while improving cost control, returns on investment and free cash flow

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For further information…
Colt website links:
http://colt.net/
http://www.colt.net/uk/en/investor-relations/index.htm
Investor relations:
Morten Singleton
Vice President Investor Relations
DDI: +44 (0) 20 7863 5314
Mobile: +44 (0) 20 7535 445159
Colt Technology Services Group Limited, Beaufort House,
15 St Botolph Street, London, EC3A 7QN UK