CyrusOne Reports First Quarter 2013 Earnings

CyrusOne Reports First Quarter 2013 Earnings

Revenue and Normalized FFO Growth of 15% for First Quarter

DALLAS, May 8, 2013 (GLOBE NEWSWIRE) -- Global data center service provider
CyrusOne Inc, (Nasdaq:CONE), which specializes in providing highly reliable
enterprise-class, carrier-neutral data center properties to the Fortune 1000,
announced first quarter 2013 earnings today.

First Quarter Highlights

  *Leased 31,000 square feet of colocation space, up 100% over first quarter
    of 2012, adding four of the Fortune 1000, bringing total Fortune 1000
    customers to 119
  *Revenue growth of 15% and Adjusted EBITDA increase of 11% compared to the
    first quarter of 2012
  *Normalized FFO increased 15% while AFFO increased 45% from first quarter
    of 2012
  *Acquired two previously leased data centersin May2013
  *Purchased an additional 33 acres of land adjacent to the Houston West data
    center
  *Launched the CyrusOne Texas Internet Exchange (IX)

"We are very pleased with our inaugural first quarter results which reflect
the broad secular trends that are driving our industry, the continued demand
by Fortune 1000 customers for CyrusOne's products and services and the
financial strength of our differentiated platform," said Gary Wojtaszek,
President and Chief Executive Officer.

Financial Results

CyrusOne closed on its initial public offering (IPO) on January 24, 2013.
Prior to its IPO, CyrusOne was a wholly owned subsidiary of Cincinnati Bell
Inc. (NYSE:CBB). The discussion below combines the results of operations for
the period January 1, 2013 through January 23, 2013 and the period from
January 24, 2013 through March 31, 2013 to provide a meaningful comparison to
the results of operations for the quarter ended March 31, 2012.

Revenue for the first quarter of 2013 was $60.1 million, up from $52.1 million
in the first quarter of 2012, an increase of 15%. Recurring rent churn^1 was
0.4% for the first quarter of 2013, or 1.6% annualized, compared to 0.5% for
the first quarter of 2012 and 4.6% annual recurring rent churn for the full
year 2012.

CyrusOne's net loss for the first quarter of 2013 was $23.0 million compared
to a net loss of $0.7 million for the first quarter of 2012. The higher loss
was due primarily to transaction-related compensation expense of $20.0 million
recorded in the first quarter of 2013 related to employee incentive plans put
into place by Cincinnati Bell related to the CyrusOne IPO. This was a non-cash
expense to CyrusOne as the payments were reimbursed by Cincinnati Bell. Higher
depreciation and amortization in the first quarter of 2013 was mostly offset
by increased net operating income (NOI)^2. NOI for the quarter was $40.0
million, an increase of 15% from the first quarter of 2012, resulting from
organic growth at existing and newly constructed facilities. CyrusOne's owned
facilities accounted for 62% of the first quarter 2013 NOI and 64% of
colocation square feet (CSF).

Adjusted EBITDA^3 increased to $31.5 million for the first quarter of 2013,
from $28.3 million for the first quarter of 2012, an increase of 11%. The
increase in Adjusted EBITDA from the growth in NOI was partially offset by
increases in sales and marketing and general and administrative expenses as
CyrusOne made investments to support public company functions and invest in
future growth during 2012 and the first quarter of 2013. Adjusted EBITDA
margins improved to 52% in the first quarter of 2013 as compared to 49% in the
fourth quarter of 2012 due to seasonally lower sales and marketing expenses
and lower utility costs, partially offset by increased general and
administrative expenses.

Normalized Funds From Operations (Normalized FFO)^4, which excludes
transaction costs and transaction-related compensation, was $17.2 million, an
increase of 15% from the first quarter of 2012. The increase is from higher
Adjusted EBITDA and certain nonrecurring charges in the first quarter of 2012.
Normalized FFO per diluted common share or common share equivalent^5 was $0.27
in the first quarter of 2013, assuming the diluted common shares and common
share equivalentswere outstanding for the entire first quarter of 2013.
Adjusted Funds From Operations (AFFO) ^ 6 increased to $17.5 million in the
first quarter of 2013, up 45% from the prior year.

Leasing Activity

During the quarter, CyrusOne signed new leases for approximately 31,000 CSF,
or 3.1MW of power, compared to 15,000 CSF in the first quarter of 2012.
CyrusOne added four new Fortune 1000^7 customers, bringing the total to 119
customers in the Fortune 1000. The weighted average lease term based on square
footage was 71 months, and approximately 72% of the square footage was leased
to metered power customers with the remainder leased on a full service basis.

Portfolio Utilization and Development

CSF available was approximately 921,000 across 24 facilities as of March 31,
2013, up 113,000 CSF or 14% from March 31, 2012. Total CSF available declined
from December 31, 2012 by 11,000 CSF as 16,000 CSF at the West Seventh Street
facility in Cincinnati was decommissioned. In the fourth quarter of 2012, a
customer renewed their contract of legacy low power CSF, reducing their
footprint by 16,000 CSF. The rate on the renewed lease, however, increased
over 4 times yielding a net increase in revenue despite leasing less space.
This low power CSF was decommissioned and is expected to be developed into
data center space that will generate higher amounts of revenue than the prior
lease. CyrusOne also added 5,000 CSF in its Kestral Way (London) facility in
the first quarter of 2013.

CSF utilization^8 as of March 31, 2013 was 81%, compared to 85% at March 31,
2012. Excluding space that was decommissioned at the West Seventh Street
facility, total capacity expanded 21% while utilized square footage increased
16%. In the quarter, we leased approximately 31,000 CSF across our portfolio,
including 13,000 at our South Ellis Street (Phoenix) facility, which opened in
late December 2012.

The new building expansion at Westway Park Blvd (Houston West) facility was
completed in April 2013, and CyrusOne commissioned approximately 42,000 CSF in
the first data hall. In March, CyrusOne acquired 33 acres in Houston, adjacent
to its Westway Park Blvd (Houston West) facility, for $18.2 million, expanding
the campus to over 45 acres, creating the largest digital energy campus in
Houston. In May 2013, CyrusOne purchased its Industrial Road (Florence) and
Springer Street (Lombard) facilities for $16 million, and CyrusOne is
currently under contract to acquire its Metropolis Drive (Austin 2) facility
in the second quarter of 2013. These facilities were previously leased with a
combined annualized rent^9 of $18.7 million for March 2013, and pro forma for
these purchases, CyrusOne's owned facilities accounted for 70% of the first
quarter 2013 NOI and 76% of CSF as of March 31, 2013.

Interconnection Initiative

Last month CyrusOne deployed its Texas IX, which is a unique platform that
creates a true paradigm shift in the way CyrusOne has solved big data
challenges faced by its enterprise customers. CyrusOne architected a solution
that can solve both data center and connectivity needs, providing tremendous
scalability by combining CyrusOne's Massively Modular facility architecture
with its robust connectivity platform in the state of Texas. The on-net
platform is deployed across CyrusOne facilities in Austin, Dallas, Houston and
San Antonio and enables customers to connect to their own enterprise-owned
facilities and to third-party facilities to seamlessly engage the full
ecosystem of business partners, content providers, networks, carriers,
Internet service providers, and Ethernet buyers and sellers. The platform
provides customers freedom of choice about how to build out capacity when
transporting large amounts of data—by choosing CyrusOne's bandwidth
marketplace, its Internet Exchange platform, or a cross-connect to cloud
services.

The platform enables customers to establish robust, low-latency, multi-point
connections between a broad range of facilities or centers. It is also the
easiest and fastest way for customers to gain all the benefits associated with
lower wholesale transit purchase costs and peering. The CyrusOne Texas IX
offers reduced service costs, with free Internet Exchange ports at all on-net
CyrusOne facilities and third-party carrier hotels.

Balance Sheet and Liquidity

As of March 31, 2013, CyrusOne had $556.0 million of long term debt, cash of
$328.6 million, and an undrawn $225.0 million senior secured revolving credit
facility. Net debt^10 was $227.4 million, or approximately 13% of our total
enterprise value or 1.8x our Adjusted EBITDA annualized. Available
liquidity^11 as of March 31, 2013 was $553.6 million.

Dividend

On March 20, 2013, CyrusOne declared a dividend of $0.16 per share of common
stock and common stock equivalents for the first quarter of 2013. The dividend
was paid on April 15, 2013 to shareholders of record on March 29, 2013.

Guidance

CyrusOne is introducing the following guidance for the full year 2013:

Category                                           2013 Guidance
Revenue                                            $260 - $270 million
Adjusted EBITDA                                    $133 - $137 million
Normalized FFO per diluted common share or common  $1.15 - $1.25
share equivalent*
                                                  
Capital Expenditures                               
Development                                        $170 - $180 million
Recurring                                          $5 - $10 million
Acquisition of Leased Facilities                   $20 - $35 million
Acquisition of Land for Future Development         $20 - $25 million

* Calculated as if all diluted common shares and common share equivalents were
issued and outstanding on January 1, 2013.

The annual guidance provided above represents forward-looking projections,
which are based on current economic conditions, internal assumptions about our
existing customer base and the supply and demand dynamics of the markets in
which CyrusOne operates. Further, the guidance does not include the impact of
any future financing, investment or disposition activities.

Upcoming Conferences and Events

Barclays High Yield Bond and Syndicated Loan Conference on May 22 and the
NAREIT's Investor Forum on June 6. Both conferences are being held in Chicago.

Conference Call Details

CyrusOne will host a conference call on May 8, 2013 at 5:30 PM Eastern Time
(4:30 PM Central Time) to discuss its results for the first quarter of 2013. A
live webcast of the conference call will also be available on the investor
relations page of the Company's website at
http://investor.cyrusone.com/index.cfm. The conference call dial-in number is
1-877-719-9801, and the international dial-in number is 1-719-325-4778.
Passcode for the call is 5863359. A replay will be available one hour after
the conclusion of the earnings call on May 8, 2013, until 10:00 AM (ET) on May
22, 2013. The U.S. toll-free replay dial-in number is 1-888-203-1112 and the
international replay dial-in number is 1-719-457-0820. Replay passcode is
5863359. An archived version of the webcast will also be available on the
investor relations page of the Company's website at
http://investor.cyrusone.com/index.cfm.

Safe Harbor

This release and the documents incorporated by reference herein contain
forward-looking statements regarding future events and our future results that
are subject to the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995. All statements, other than statements of
historical facts, are statements that could be deemed forward-looking
statements. These statements are based on current expectations, estimates,
forecasts, and projections about the industries in which we operate and the
beliefs and assumptions of our management. Words such as "expects,"
"anticipates," "predicts," "projects," "intends," "plans," "believes,"
"seeks," "estimates," "continues," "endeavors," "strives," "may," variations
of such words and similar expressions are intended to identify such
forward-looking statements. In addition, any statements that refer to
projections of our future financial performance, our anticipated growth and
trends in our businesses, and other characterizations of future events or
circumstances are forward-looking statements. Readers are cautioned these
forward-looking statements are based on current expectations and assumptions
that are subject to risks and uncertainties, which could cause our actual
results to differ materially and adversely from those reflected in the
forward-looking statements. Factors that could cause or contribute to such
differences include, but are not limited to, those discussed in this release
and those discussed in other documents we file with the Securities and
Exchange Commission (SEC). More information on potential risks and
uncertainties is available in our recent filings with the SEC, including
CyrusOne's Form 10K report and Form 8-K reports. Actual results may differ
materially and adversely from those expressed in any forward-looking
statements. We undertake no obligation to revise or update any forward-looking
statements for any reason.

Use of Non-GAAP Financial Measures

This press release contains certain non-GAAP financial measures that
management believes are helpful in understanding the Company's business, as
further discussed within this press release. These financial measures, which
include Funds From Operations, Normalized Funds From Operations, Adjusted
Funds From Operations, Adjusted EBITDA, Net Operating Income and Net debt
should not be construed as being more important than comparable GAAP measures.
Detailed reconciliations of these non-GAAP financial measures to comparable
GAAP financial measures have been included in the tables distributed with this
release and are available in the Investor Relations section of
www.cyrusone.com.

^1Recurring rent churn is calculated as any reduction in recurring rent due to
customer terminations, service reductions or net pricing decreases as a
percentage of annualized rent at the beginning of the period, excluding any
impact from metered power reimbursements or other usage-based billing.

^2Net Operating Income (NOI) is calculated as revenue less property operating
expenses. Amortization of deferred leasing costs is presented in depreciation
and amortization, which is excluded from NOI. CyrusOne has not historically
incurred any tenant improvement costs. Our sales and marketing costs consist
of salaries and benefits for our internal sales staff, travel and
entertainment, office supplies, marketing and advertising costs. General and
administrative costs include salaries and benefits of our senior management
and support functions, legal and consulting costs, and other administrative
costs. Marketing and advertising costs are not property specific, rather these
costs support our entire portfolio. As a result, we have excluded these
marketing and advertising costs from our NOI calculation, consistent with the
treatment of general and administrative costs, which also support our entire
portfolio.

^3Adjusted EBITDA is calculated as net (loss) income as defined by U.S. GAAP
before noncontrolling interests plus interest expense, income tax (benefit)
expense, depreciation and amortization, non-cash compensation, transaction
costs and transaction-related compensation, including acquisition pursuit
costs, loss on sale of receivables to affiliate, restructuring costs, loss on
extinguishment of debt, asset impairments and excluding (gain) loss on sale of
real estate improvements. Other companies may not calculate Adjusted EBITDA in
the same manner. Accordingly, the Company's Adjusted EBITDA as presented may
not be comparable to others.

^4Normalized Funds From Operations (Normalized FFO) is calculated as Funds
From Operations (FFO) plus transaction costs and transaction-related
compensation, including acquisition pursuit costs.FFO represents net (loss)
income computed in accordance with U.S. GAAP before noncontrolling interests,
(gain) loss from sales of real estate improvements, real estate-related
depreciation and amortization, amortization of customer relationship
intangibles, and real estate and customer relationship intangible impairments.
Because the value of the customer relationship intangibles is inextricably
connected to the real estate acquired, CyrusOne believes the amortization and
impairments of such intangibles is analogous to real estate depreciation and
impairments; therefore, the Company adds the customer relationship intangible
amortization and impairments back for similar treatment with real estate
depreciation and impairments. CyrusOne's customer relationship intangibles
are primarily associated with the acquisition of Cyrus Networks in 2010 and,
at the time of acquisition, represented 22% of the value of the assets
acquired. The Company believes its Normalized FFO calculation provides a
comparable measure to others in the industry.

^5Normalized FFO per diluted common share or common share equivalent is
calculated as Normalized FFO divided by all diluted common shares and common
share equivalents as if they were converted to common shares and were
outstanding as of January 1, 2013.

^6Adjusted Funds From Operations (AFFO) is calculated as Normalized FFO plus
amortization of deferred financing costs, non-cash compensation, and non-real
estate depreciation and amortization, less deferred revenue and straight line
rent adjustments, leasing commissions, recurring capital expenditures, and
non-cash corporate income tax benefit and expense.

Management uses FFO, Normalized FFO, Adjusted EBITDA, NOI and AFFO as
supplemental performance measures because they provide performance measures
that, when compared year over year, capture trends in occupancy rates, rental
rates and operating costs. The Company also believes that, as widely
recognized measures of the performance of real estate investment trusts
(REITs) and other companies, these measures will be used by investors as a
basis to compare its operating performance with that of other companies. Other
companies may not calculate these measures in the same manner, and, as
presented, they may not be comparable to others. Therefore, FFO, Normalized
FFO, AFFO NOI and Adjusted EBITDA should be considered only as supplements to
net income as measures of our performance. FFO, Normalized FFO, AFFO NOI and
Adjusted EBITDA should not be used as measures of liquidity nor as indicative
of funds available to fund the Company's cash needs, including the ability to
make distributions. These measures also should not be used as supplements to
or substitutes for cash flow from operating activities computed in accordance
with U.S. GAAP.

^7Fortune 1000 customers include subsidiaries whose ultimate parent is a
Fortune 1000 company or a foreign or private company of equivalent size.

^8Utilization is calculated by dividing CSF under signed leases for available
space (whether or not the contract has commenced billing) by total CSF.
Utilization rate differs from percent leased presented in the Data Center
Portfolio table because utilization rate excludes office space and supporting
infrastructure net rentable square footage and includes CSF for signed leases
that have not commenced billing. Management uses utilization rate as a measure
of CSF leased.

^9Annualized rent represents monthly contractual rent (defined as cash rent
including customer reimbursements for metered power) under existing customer
leases as of March 31, 2013, multiplied by 12. For the month of March 2013,
annualized rent was approximately $225.7 million and customer reimbursements
were $20.3 million annualized, consisting of reimbursements by customers
across all facilities with separately metered power.

^10Net debt provides a useful measure of liquidity and financial health. The
Company defines net debt as long-term debt and capital lease obligations,
offset by cash, cash equivalents, and temporary cash investments.

^11Liquidity is calculated as cash, cash equivalents, and temporary cash
investments on hand plus the undrawn capacity on CyrusOne's corporate
revolving credit facility.

About CyrusOne

CyrusOne (Nasdaq:CONE) specializes in highly reliable enterprise-class,
carrier-neutral data center properties. The company provides mission-critical
data center facilities that protect and ensure the continued operation of IT
infrastructure for more than 500 customers, including nine of the Fortune 20
and more than 100 of the Fortune 1000 companies.

CyrusOne's data center offerings provide the flexibility, reliability, and
security that enterprise customers require and are delivered through a
tailored, customer service-focused platform designed to foster long-term
relationships. CyrusOne is committed to full transparency in communication,
management, and service delivery throughout its 24 data centers worldwide.

CyrusOne Inc.
Combined Statements of Operations
(Dollars in millions, except per share amounts)
(Unaudited)
                                                                    
                                          Three Months Ended Change
                                           March 31,
                                          2013       2012    $         %
Revenue                                    $60.1    $52.1 $8.0    15%
Costs and expenses:                                                  
Property operating expenses                20.1      17.3   2.8      16%
Sales and marketing                        2.8       1.8    1.0      56%
General and administrative                 6.9       4.5    2.4      53%
Transaction-related compensation           20.0      --    20.0     n/m
Depreciation and amortization              21.7      16.4   5.3      32%
Transaction costs                          0.1       --    0.1      n/m
Management fees charged by CBI             --       0.7    (0.7)    (100%)
Loss on sale of receivables to affiliate   --       1.2    (1.2)    (100%)
Total costs and expenses                   71.6      41.9   29.7     71%
                                                                    
Operating income (loss)                    $(11.5)  $10.2 $(21.7) n/m
                                                                    
Interest expense                           10.9      10.3   0.6      6%
Loss before income taxes                   (22.4)    (0.1)  (22.3)   n/m
Income tax expense                         0.6       0.6    --      0%
Net loss                                   (23.0)    (0.7)  (22.3)   n/m
                                                                    
Net loss attributed to Predecessor         (20.2)    (0.7)  (19.5)   n/m
Noncontrolling interest in net loss        (1.9)     --    (1.9)    n/m
Net loss attributed to common stockholders $(0.9)   $--  $(0.9)  n/m
                                                                    
Loss per common share - basic and diluted  $(0.05)  n/a            



CyrusOne Inc.
Combined Balance Sheets
(Dollars in millions)
(Unaudited)
                                                                    
                                      March 31,  December 31, Change
                                      2013       2012         $        %
Assets                                                               
                                                                    
Investment in real estate:                                           
Land                                   $44.4    $44.5      $(0.1) (0%)
Buildings and improvements             740.7     722.5       18.2    3%
Equipment                              68.7      52.4        16.3    31%
Construction in progress               92.6      64.2        28.4    44%
Subtotal                               946.4     883.6       62.8    7%
Accumulated depreciation               (192.1)   (176.7)     (15.4)  9%
Net investment in real estate          754.3     706.9       47.4    7%
Cash and cash equivalents              328.6     16.5        312.1   n/m
Rent and other receivables             30.0      33.2        (3.2)   (10%)
Restricted cash                        2.6       6.3         (3.7)   (59%)
Goodwill                               276.2     276.2       --     0%
Intangible assets, net                 98.4      102.6       (4.2)   (4%)
Due from affiliates                    23.2      2.2         21.0    n/m
Other assets                           60.7      67.0        (6.3)   (9%)
Total assets                          $1,574.0 $1,210.9   $363.1 30%
                                                                    
Liabilities and Equity                                               
Accounts payable and accrued expenses  $60.3    $29.5      $30.8  104%
Deferred revenue                       51.7      52.8        (1.1)   (2%)
Due to affiliates                      8.2       2.9         5.3     183%
Capital lease obligations              31.0      32.2        (1.2)   (4%)
Long-term debt                         525.0     525.0       --     0%
Other financing arrangements           62.9      60.8        2.1     3%
Other liabilities                      18.4      7.6         10.8    142%
Total liabilities                      757.5     710.8       46.7    7%
                                                                    
Shareholders' Equity/Parent's net                                    
investment :
Preferred stock, $.01 par value,
100,000,000 authorized; no shares      --       --         --     n/m
issued or outstanding
Common stock, $.01 par value,
500,000,000 shares authorized and      0.2       --         0.2     n/m
21,871,673 shares issued and
outstanding at March 31, 2013
Common stock, $.01 par value, 1,000
shares authorized and 100 shares       --       --         --     n/m
issued and outstanding at January 23,
2013, and December 31, 2012
Paid in capital                        335.7     7.1         328.6   n/m
Accumulated deficit                    (3.9)     --         (3.9)   n/m
Partnership capital                    --       493.0       (493.0) (100%)
Total shareholders' equity/parent's    332.0     500.1       (168.1) (34%)
net investment
Noncontrolling interests               484.5     --         484.5   n/m
Total liabilities and shareholders'    $1,574.0 $1,210.9   363.1   30%
equity/parent's net investment



CyrusOne Inc.
Combined Statements of Operations
(Dollars in millions, except per share amounts)
(Unaudited)
                                                                
                                                                
For the three months ended:    March 31, December September June 30, March 31,
                                         31,      30,
                              2013      2012     2012      2012     2012
Revenue                        $60.1   $58.0  $56.7   $54.0  $52.1
Costs and expenses:                                              
Property operating expenses    20.1     20.6    20.0     18.1    17.3
Sales and marketing            2.8      4.0     2.1      1.8     1.8
General and administrative     6.9      5.4     5.3      5.5     4.5
Transaction-related            20.0     --     --      --     --
compensation
Depreciation and amortization  21.7     20.4    18.8     17.8    16.4
Transaction costs              0.1      4.4     0.6      0.7     --
Management fees charged by CBI --      0.4     0.9      0.5     0.7
(Gain) loss on sale of         --      (0.4)   1.3      1.1     1.2
receivables to affiliate
Asset impairments              --      --     --      13.3    --
Total costs and expenses       71.6     54.8    49.0     58.8    41.9
                                                                
Operating income (loss)        $(11.5) $3.2   $7.7    $(4.8) $10.2
                                                                
Interest expense               10.9     10.5    11.3     9.7     10.3
Loss before income taxes       (22.4)   (7.3)   (3.6)    (14.5)  (0.1)
Income tax expense (benefit)   0.6      (0.4)   (0.7)    (4.6)   0.6
Net loss from continuing       (23.0)   (6.9)   (2.9)    (9.9)   (0.7)
operations
                                                                
Gain on sale of real estate    --      --     (0.1)    --     --
improvements
Net loss attributed to         (20.2)   (6.9)   (2.8)    (9.9)   (0.7)
Predecessor
Noncontrolling interest in net (1.9)    --     --      --     --
loss
Net loss attributed to common  $(0.9)  $--   $--    $--   $--
stockholders
                                                                
Loss per common share - basic  $(0.05) n/a    n/a     n/a    n/a
and diluted




CyrusOne Inc.
Combined Balance Sheets
(Dollars in millions)
(Unaudited)
                                                                
                       March 31,  December 31, September  June 30,   March 31,
                      2013       2012         30,        2012       2012
                                               2012
Assets                                                           
                                                                
Investment in real                                               
estate:
Land                   $44.4    $44.5      $41.2    $39.0    $38.5
Buildings and          740.7     722.5       666.5     613.6     619.9
improvements
Equipment              68.7      52.4        43.2      27.3      16.9
Construction in        92.6      64.2        56.6      72.7      30.3
progress
Subtotal               946.4     883.6       807.5     752.6     705.6
Accumulated            (192.1)   (176.7)     (162.9)   (149.6)   (142.5)
depreciation
Net investment in real 754.3     706.9       644.6     603.0     563.1
estate
Cash and cash          328.6     16.5        3.2       1.4       1.9
equivalents
Rent and other         30.0      33.2        --       --       --
receivables
Restricted cash        2.6       6.3         10.4      --       --
Goodwill               276.2     276.2       276.2     276.2     276.2
Intangible assets, net 98.4      102.6       106.7     110.8     116.5
Due from affiliates    23.2      2.2         9.6       3.8       --
Other assets           60.7      67.0        40.1      36.4      29.1
Total assets          $1,574.0 $1,210.9   $1,090.8 $1,031.6 $986.8
                                                                
Liabilities and Equity                                           
Accounts payable and   $60.3    $29.5      $41.2    $29.2    $13.0
accrued expenses
Deferred revenue       51.7      52.8        52.1      51.1      48.8
Due to affiliates      8.2       2.9         --       --       --
Capital lease          31.0      32.2        38.0      39.3      41.4
obligations
Long-term debt         525.0     525.0       --       --       --
Related party notes    --       --         612.1     561.5     524.2
payable
Other financing        62.9      60.8        49.2      48.4      48.5
arrangements
Other liabilities      18.4      7.6         0.7       1.6       0.5
Total liabilities      757.5     710.8       793.3     731.1     676.4
                                                                
Shareholders' Equity/
Parent's net                                                     
investment :
Preferred stock, $.01
par value, 100,000,000 --        --          --        --        --
authorized; no shares
issued or outstanding
Common stock, $.01 par
value, 500,000,000
shares authorized and  0.2       --          --        --        --
21,871,673 shares
issued and outstanding
at March 31, 2013
Common stock, $.01 par
value, 1,000 shares
authorized and 100
shares issued and      --        --          --        --        --
outstanding at January
23, 2013, and December
31, 2012
Paid in capital        335.7     7.1         --        --        --
Accumulated deficit    (3.9)     --          --        --        --
Partnership capital    --        493.0       297.5     300.5     310.4
Total shareholders'
equity/parent's net    332.0     500.1       297.5     300.5     310.4
investment
Noncontrolling         484.5     --          --        --        --
interests
Total liabilities and
shareholders'          $1,574.0 $1,210.9   $1,090.8 $1,031.6 $986.8
equity/parent's net
investment



CyrusOne Inc.
Reconciliation of Statement of Operations for the Three Months Ended March 31,
2013
(Dollars in millions, except per share amounts)
(Unaudited)
                                                            
                                Predecessor     Successor     Combined
                                 January 1, 2013 January 24,   Three Months
                                to January 23,  2013          ended March 31,
                                 2013            to March 31,  2013
                                                 2013
Revenue                          $15.1         $45.0       $60.1
Costs and expenses:                                          
Property operating expenses      4.8            15.3         20.1
Sales and marketing              0.7            2.1          2.8
General and administrative       1.5            5.4          6.9
Transaction-related compensation 20.0           --          20.0
Depreciation and amortization    5.3            16.4         21.7
Transaction costs                0.1            --          0.1
Management fees charged by CBI   --            --          --
Loss on sale of receivables to   --            --          --
affiliate
Total costs and expenses         32.4           39.2         71.6
                                                            
Operating income (loss)          $(17.3)       $5.8        $(11.5)
                                                            
Interest expense                 2.5            8.4          10.9
Loss before income taxes         (19.8)         (2.6)        (22.4)
Income tax expense               0.4            0.2          0.6
Net loss                         (20.2)         (2.8)        (23.0)
                                                            
Net loss attributed to           (20.2)         --          (20.2)
Predecessor
Noncontrolling interest in net   --            (1.9)        (1.9)
loss
Net loss attributed to common    $--          $(0.9)      $(0.9)
stockholders
                                                            
Loss per common share - basic    n/a           $(0.05)     $(0.05)
and diluted



CyrusOne Inc.
Net Operating Income and Reconciliation of Net Loss to Adjusted EBITDA
(Dollars in millions)
(Unaudited)
                                                                                      
                   Three Months Ended                Three Months Ended
                   March 31,          Change          March 31, December September June 30, March
                                                                  31,       30,                31,
                   2013      2012     $         %      2013      2012      2012      2012     2012
Net Operating                                                                          
Income
Revenue             $60.1   $52.1  $8.0    15%    $60.1   $58.0   $56.7   $54.0  $52.1
Property operating  20.1     17.3    2.8      16%    20.1     20.6     20.0     18.1    17.3
expenses
                                                                                      
Net Operating       $40.0   $34.8  $5.2    15%    $40.0   $37.4   $36.7   $35.9  $34.8
Income (NOI)
NOI as a % of       66.6%     66.8%                   66.6%     64.5%     64.7%     66.5%    66.8%
Revenue
                                                                                      
Reconciliation of
Net Loss to                                                                            
Adjusted EBITDA:
                                                                                      
Net loss            $(23.0) $(0.7) $(22.3) n/m    $(23.0) $(6.9)  $(2.8)  $(9.9) $(0.7)
                                                                                      
Adjustments:                                                                           
Interest expense    10.9     10.3    0.6      6%     10.9     10.5     11.3     9.7     10.3
Income tax          0.6      0.6     --      0%     0.6      (0.4)    (0.7)    (4.6)   0.6
(benefit) expense
Depreciation and    21.7     16.4    5.3      32%    21.7     20.4     18.8     17.8    16.4
amortization
Transaction costs   0.1      --     0.1      n/m    0.1      4.4      0.6      0.7     --
Loss on sale of
receivables to      --      1.2     (1.2)    (100%) --      (0.4)    1.3      1.1     1.2
affiliate
Non-cash            1.2      0.5     0.7      140%   1.2      0.8      1.7      0.4     0.5
compensation
Asset impairments   --      --     --      n/m    --      --      --      13.3    --
Gain on sale of
real estate         --      --     --      n/m    --      --      (0.1)    --     --
improvements
Transaction-related 20.0     --     20.0     n/m    20.0     --      --      --     --
compensation
Adjusted EBITDA     $31.5   $28.3  $3.2    11%    $31.5   $28.4   $30.1   $28.5  $28.3
Adjusted EBITDA as  52.4%     54.3%                   52.4%     49.0%     53.1%     52.8%    54.3%
a % of Revenue



CyrusOne Inc.
Reconciliation of Net Loss to FFO, Normalized FFO, and AFFO
(Dollars in millions)
(Unaudited)
                                                                                     
                   Three Months Ended                Three Months Ended
                   March 31,          Change           March 31, December September June 30, March
                                                                  31,      30,                31,
                   2013      2012     $         %      2013      2012     2012      2012     2012
Reconciliation of
Net Loss to FFO and                                                                   
Normalized FFO:
Net loss            $(23.0) $(0.7) $(22.3) n/m  $(23.0) $(6.9) $(2.8)  $(9.9) $(0.7)
                                                                                     
Adjustments:                                                                          
Real estate
depreciation and    15.9     11.5    4.4      38%    15.9     15.4    13.6     12.4    11.5
amortization
Amortization of
customer            4.2      4.1     0.1      2%     4.2      3.9     4.0      4.0     4.1
relationship
intangibles
Real estate         --      --     --      n/m    --      --     (0.1)    11.8    --
impairments
Customer
relationship        --      --     --      n/m    --      --     --      1.5     --
intangible
impairments
Gain on sale of
real estate         --      --     --      n/m    --      --     (0.1)    --     --
improvements
Funds from          $(2.9)  $14.9  (17.8)   (120%) $(2.9)  $12.4  $14.6   $19.8  $14.9
Operations (FFO)
                                                                                     
Transaction-related 20.0     --     20.0     n/m    20.0     --     --      --     --
compensation
Transaction costs   0.1      --     0.1      n/m    $0.1    $4.4   0.6      0.7     --
Normalized Funds
from Operations     $17.2   $14.9  $2.3    15%    $17.2   $16.8  $15.2   $20.5  $14.9
(Normalized FFO)
                                                                                     
Normalized FFO per
diluted common      $0.27   n/a                   $0.27   n/a    n/a     n/a    n/a
share or common
share equivalent*
                                                                                     
Reconciliation of
Normalized FFO to                                                                     
AFFO:
Normalized FFO      $17.2   $14.9  2.3      15%    $17.2   $16.8  $15.2   $20.5  $14.9
                                                                                     
Adjustments:                                                                          
Amortization of
deferred financing  0.6      --     0.6      n/m    0.6      0.3     --      --     --
costs
Non-cash            1.2      0.5     0.7      140%   1.2      0.8     1.7      0.4     0.5
compensation
Non-real estate
depreciation and    1.6      0.8     0.8      100%   1.6      1.1     1.2      1.4     0.8
amortization
Deferred revenue
and straight line   (2.3)    (2.3)   --      0%     (2.3)    (2.3)   (2.0)    (1.7)   (2.3)
rent adjustments
Leasing commissions (0.9)    (1.6)   0.7      (44%)  (0.9)    (1.1)   (1.0)    (0.7)   (1.6)
Recurring capital   (0.3)    (0.6)   0.3      (50%)  (0.3)    (1.6)   (1.0)    (0.7)   (0.6)
expenditures
Corporate income
tax                 0.4      0.4     --      0%     0.4      (0.5)   (0.9)    (4.8)   0.4
(benefit)/expense
Adjusted Funds from $17.5   $12.1  $5.4    45%    $17.5   $13.5  $13.2   $14.4  $12.1
Operations (AFFO)
                                                                                     
* Assumes diluted common shares andcommon share                                          
equivalentswere outstanding as of January 1, 2013



CyrusOne Inc.
Market Capitalization Summary and Reconciliation of Net Debt
(Unaudited)
                                                        
                                                        
Market Capitalization                                    
                               Shares or   Market Price   Market Value
                               Equivalents as of          Equivalents
                               Outstanding March 31, 2013 (in millions)
Common shares                   21,871,673 $22.84       $499.5
Operating Partnership units     42,586,835 $22.84       972.7
Net Debt                                                 227.4
Total Enterprise Value (TEV)                             $1,699.6
                                                        
Net Debt as a % of TEV                                   13.4%
Net Debt to LQA Adjusted EBITDA                          1.8x
                                                        
                                                        
Reconciliation of Net Debt                               
(Dollars in millions)           March 31,   December 31,   
                               2013        2012           
Long-term debt                  $525.0    $525.0       
Capital lease obligations       31.0       32.2          
Less:                                                    
Cash and cash equivalents       (328.6)    (16.5)        
Net Debt                        $227.4    $540.7       



CyrusOne Inc.
Colocation Square Footage (CSF) and Utilization
(Unaudited)
                                                               
                                                               
               As of March 31, 2013  As of December 31,   As of March 31,
                                      2012                 2012
                CSF                   CSF        %         CSF       %
Market          Capacity   % Utilized Capacity   Utilized  Capacity  Utilized
                (Sq Ft)               (Sq Ft)              (Sq Ft)
Cincinnati      395,815   92%        411,730   92%       438,830  91%
Dallas          171,100   76%        171,100   69%       123,734  84%
Houston         188,602   94%        188,602   93%       157,263  99%
Austin          57,078    35%        57,078    32%       57,078   30%
Phoenix         36,222    37%        36,222    0%        --      0%
San Antonio     35,765    62%        35,765    61%       --      0%
Chicago         23,278    49%        23,278    52%       23,278   59%
International   13,200    70%        8,200     52%       8,200    23%
Total Footprint 921,060   81%        931,975   78%       808,383  85%



CyrusOne Inc.
2013 Guidance
(Unaudited)
                                                      
                                                      
                                                      Full Year 2013
Revenue                                                $260 - $270 million
Adjusted EBITDA                                        $133 - $137 million
Normalized FFO per diluted common shareor common      $1.15 - $1.25
share equivalent*
                                                      
Capital Expenditures                                   
Development                                            $170 - $180 million
Recurring                                              $5 - $10 million
Acquisition of Leased Facilities                       $20 - $35 million
Acquisition of Land for Future Development             $20 - $25 million
                                                      
* Calculated as if all diluted common shares and common share equivalents were
issued and outstanding on January 1, 2013.



CyrusOne Inc.
Data Center Portfolio
As of March 31, 2013
(Unaudited)
                                                                                                               
                                          Operating Net Rentable Square Feet (NRSF)^(a)                             
                                                                                                            Powered
                                             Colocation                                                    Shell       Available
Facilities      Metropolitan Annualized    Space       Office & Supporting        Total^(f) Percent   Available   Utility
                Area          Rent^(b)       (CSF)^(c)   Other^(d) Infrastructure^(e)            Leased^(g) for Future  Power
                                                                                                            Development (MW)^(i)
                                                                                                            (NRSF)^(h)
South and West                                                                                                  
Southwest Fwy   Houston       $41,695,463  63,469     17,385   23,202            104,056   93%        --        15
(Galleria)
Westway Park
Blvd (Houston   Houston       $35,081,808  112,133    12,735   36,567            161,435   92%        3,000      14
West)
S. State Hwy
121 Business    Dallas        $35,068,828  108,687    11,399   59,333            179,419   89%        --        20
(Lewisville)*
Midway**        Dallas        $6,387,262   9,782      --      --               9,782     100%       --        1
E. Ben White
Blvd (Austin    Austin        $5,917,525   16,223     21,376   7,516             45,115    94%        --        5
1)*
Metropolis
Drive (Austin   Austin        $2,158,715   40,855     4,128    18,563            63,546    9%         --        10
2)*
Frankford Road  Dallas        $1,959,672   47,366     24,330   36,522            108,218   13%        518,000    20
(Carrollton)
Westover Hills
Blvd (San       San Antonio   $1,250,954   35,765     172      25,777            61,714    17%        35,000     10
Antonio)
North Fwy       Houston       $1,038,086   13,000     1,449    --               14,449    100%       --        1
(Greenspoint)**
Marsh Ln.**     Dallas        $1,029,705   2,245      --      --               2,245     100%       --        1
Bryan St.**     Dallas        $993,646     3,020      --      --               3,020     58%        --        1
South Ellis
Street          Phoenix       $--         36,222     --      20,916            57,138    0%         45,000     100
(Phoenix)
                                                                                                               
South and West               $132,581,664 488,767    92,974   228,396           810,137   66%        601,000    196
Total
                                                                                                               
Midwest                                                                                                         
West Seventh
Street (7th     Cincinnati    $33,218,452  193,003    5,744    158,194           356,941   96%        71,000     13
St.)***
Fujitec Drive   Cincinnati    $20,741,817  60,556     32,484   44,506            137,546   82%        90,000     12
(Lebanon)
Industrial Road Cincinnati    $14,258,855  52,698     46,848   40,374            139,920   94%        --        10
(Florence)*
Knightsbridge
Drive           Cincinnati    $10,552,550  46,565     1,077    35,336            82,978    90%        --        5
(Hamilton)*
Parkway (Mason) Cincinnati    $5,897,705   34,072     26,458   17,193            77,723    99%        --        3
Springer Street Chicago       $2,246,842   13,560     4,115    12,231            29,906    54%        29,000     3
(Lombard)*
E. Monroe
Street (Monroe  South Bend    $1,494,608   6,350      --      6,478             12,828    70%        4,000      1
St.)
Goldcoast Drive Cincinnati    $1,456,188   2,728      5,280    16,481            24,489    100%       14,000     1
(Goldcoast)
Crescent Circle South Bend    $873,259     3,368      --      5,125             8,493     44%        11,000     1
(Blackthorn)*
McAuley Place   Cincinnati    $546,645     6,193      6,950    2,166             15,309    71%        --        1
(Blue Ash)*
Midwest Total                $91,286,921  419,093    128,956  338,084           886,133   90%        219,000    50
                                                                                                               
International                                                                                                   
Kestral Way     London        $1,606,182   10,000     --      --               10,000    39%        --        1
(London)**
Jurong East     Singapore     $270,952     3,200      --      --               3,200     12%        --        1
(Singapore)**
International                $1,877,134   13,200     --      --               13,200    33%        --        2
Total
                                                                                                               
Total                        $225,745,719 921,060     221,930   566,480            1,709,470  77%        820,000     248
                                                                                                               
* Indicates properties in which we hold a leasehold interest in the building shell and land. All data center infrastructure has
been constructed by us and owned by us.
** Indicates properties in which we hold a leasehold interest in the building shell, land, and all data center infrastructure.
*** The information provided for the West Seventh Street (7th St.) property includes data for two facilities, one of which we
lease and one of which we own.

(a) Represents the total square feet of a building under lease or available for lease based on engineers' drawings and estimates
but does not include space held for development or space used by CyrusOne.

(b) Represents monthly contractual rent (defined as cash rent including customer reimbursements for metered power) under existing
customer leases as of March 31, 2013, multiplied by 12. For the month of March 2013, customer reimbursements were $20.3 million
annualized and consisted of reimbursements by customers across all facilities with separately metered power. Customer
reimbursements under leases with separately metered power vary from month-to-month based on factors such as our customers'
utilization of power and the suppliers' pricing of power. From April 1, 2011 through March 31, 2013, customer reimbursements
under leases with separately metered power constituted between 7.2% and 9.7% of annualized rent. After giving effect to
abatements, free rent and other straight-line adjustments, our annualized effective rent as of March 31, 2013 was $236,267,428.
Our annualized effective rent was greater than our annualized rent as ofMarch 31, 2013 because our positive straight-line and
other adjustments and amortization of deferred revenue exceeded our negative straight-line adjustments due to factors such as the
timing of contractual rent escalations and customer prepayments for services.

(c) CSF represents the NRSF at an operating facility that is currently leased or readily available for lease as colocation space,
where customers locate their servers and other IT equipment.

(d) Represents the NRSF at an operating facility that is currently leased or readily available for lease as space other than CSF,
which is typically office and other space.

(e) Represents infrastructure support space, including mechanical, telecommunications and utility rooms, as well as building
common areas.

(f) Represents the NRSF at an operating facility that is currently leased or readily available for lease. This excludes existing
vacant space held for development.

(g) Percent leased is determined based on NRSF being billed to customers under signed leases as of March 31, 2013 divided by
total NRSF. Leases signed but not commenced as of March 31, 2013 are not included. Supporting infrastructure has been allocated
to leased NRSF on a proportionate basis for purposes of this calculation.

(h) Represents space that is under roof that could be developed in the future for operating NRSF, rounded to the nearest 1,000.

(i) Represents installed power capacity that can be delivered to the facility by the local utility provider. Does not sum to
total due to rounding.


CyrusOne Inc.
NRSF Under Development
As of March 31, 2013
(Dollars in millions)
(Unaudited)
                                                                                      
                      NRSF Under Development^(a)
                      Under Development                                    Under Development
                                                                             Costs^(b)
           Metropolitan Colocation Office  Supporting     Powered           Actual Estimated
Facilities Area         Space      & Other Infrastructure Shell^(c) Total    to     Costs to   Total
                        (CSF)                                                Date   Completion
South
Ellis      Arizona      --       36,000 17,000        32,000   85,000  $2   $11      $13
Street
(Phoenix)
Westway
Park Blvd  Houston      42,000    --    34,000        81,000   157,000 $20  $14      $34
(Houston
West)
                                                                                      
Total                  42,000    36,000 51,000        113,000  242,000 $22  $25      $47
                                                                                      
(a) Represents NRSF at a facility for which substantial activities have commenced to prepare the
space for its intended use.
(b) Represents management's estimate of the total costs required to complete the current NRSF under
development. There may be an increase in costs if customers require greater power density.
(c) Represents NRSF under construction that, upon completion, will be powered shell available for
future development into operating NRSF.



CyrusOne Inc.
Customer Diversification^(a)
As of March 31, 2013
(Unaudited)
                                                                   Weighted
                                                     Percentage of Average
Principal Customer     Number of    Annualized       Portfolio     Remaining
Industry               Locations    Rent^(b)         Annualized    Lease
                                                     Rent^(c)      Term in
                                                                   Months^(d)
1 Telecommunications   7            $20,679,452    9.2%          17.0
(CBI)^(e)
2 Energy               4            $15,931,172    7.1%          5.5
3 Research and         3            $13,992,897    6.2%          6.4
Consulting Services
4 Energy               2            $13,267,978    5.9%          1.7
5 Information          2            $7,071,990     3.1%          49.0
Technology
6 Telecommunication    1            $6,976,397     3.1%          51.3
Services
7 Financials           1            $6,000,225     2.7%          86.0
8 Information          1            $4,890,027     2.2%          33.0
Technology
9 Telecommunication    1            $4,864,124     2.2%          73.0
Services
10 Energy              2            $4,731,000     2.1%          40.0
11 Consumer Staples    1            $4,456,646     2.0%          108.4
12 Information         1            $3,877,195     1.7%          95.0
Technology
13 Information         2            $3,856,209     1.7%          94.1
Technology
14 Energy              3            $3,811,023     1.7%          2.1
15 Energy              1            $3,808,364     1.7%          16.7
16 Consumer            1            $3,571,203     1.6%          38.0
Discretionary
17 Energy              1            $3,406,090     1.5%          27.0
18 Consumer            1            $3,233,553     1.4%          8.8
Discretionary
19 Energy              1            $3,018,000     1.3%          6.0
20 Energy              1            $2,997,060     1.3%          10.6
                                                               
                                  $134,440,605   59.7%         30.3
                                                               
(a) Includes affiliates.

(b) Represents monthly contractual rent (defined as cash rent including
customer reimbursements for metered power) under existing customer leases as
of March 31, 2013, multiplied by 12. For the month of March 2013, customer
reimbursements were $20.3 million annualized and consisted of reimbursements
by customers across all facilities with separately metered power. Customer
reimbursements under leases with separately metered power vary from
month-to-month based on factors such as our customers' utilization of power
and the suppliers' pricing of power. From April 1, 2011 through March 31,
2013, customer reimbursements under leases with separately metered power
constituted between 7.2% and 9.7% of annualized rent. After giving effect to
abatements, free rent and other straight-line adjustments, our annualized
effective rent as of March 31, 2013 was $236,267,428. Our annualized effective
rent was greater than our annualized rent as ofMarch 31, 2013 because our
positive straight-line and other adjustments and amortization of deferred
revenue exceeded our negative straight-line adjustments due to factors such as
the timing of contractual rent escalations and customer prepayments for
services.
                                                               
(c) Represents the customer's total annualized rent divided by the total
annualized rent in the portfolio as of March 31, 2013, which was approximately
$225.7 million.
                                                               
(d) Weighted average based on customer's percentage of total annualized rent
expiring and is as of March 31, 2013, assuming that customers exercise no
renewal options and exercise all early termination rights that require payment
of less than 50% of the remaining rents. Early termination rights that require
payment of 50% or more of the remaining lease payments are not assumed to be
exercised because such payments approximate the profitability margin of
leasing that space to the customer, such that we do not consider early
termination to be economically detrimental to us.
                                                               
(e) Includes information for both Cincinnati Bell Technology Solutions (CBTS)
and Cincinnati Bell Telephone and two customers that have contracts with CBTS.
We expect the contracts for these two customers to be assigned to us, but the
consents for such assignments have not yet been obtained. Excluding these
customers, Cincinnati Bell Inc. and subsidiaries represented 2.8% of our
annualized rent as of March 31, 2013.


CyrusOne Inc.
Lease Distribution
As of March 31, 2013
(Unaudited)
                        Percentage            Percentage                Percentage
NRSF      Number of     of         Total      of         Annualized     of
Under     Customers^(b) All        Leased     Portfolio  Rent^(d)       Annualized
Lease^(a)               Customers  NRSF^(c)   Leased                    Rent
                                              NRSF
0-999     426           81%        73,725    6%         $32,585,466  14%
1000-2499 36            7%         58,561    4%         $16,074,720  7%
2500-4999 22            4%         77,798    6%         $18,458,313  8%
5000-9999 15            3%         115,356   9%         $31,023,494  14%
10000+    28            5%         988,799   75%        $127,603,726 57%
                                                                  
Total     527          100%       1,314,239 100%       $225,745,719 100%
                                                                  
(a) Represents all leases in our portfolio, including colocation, office and other
leases.
                                                                  
(b) Represents the number of customers in our portfolio leasing data center,
office and other space.
                                                                  
(c) Represents the total square feet at a facility under lease and that has
commenced billing, excluding space held for development or space used by CyrusOne.
A customer's leased NRSF is estimated based on such customer's direct CSF or
office and light-industrial space plus management's estimate of infrastructure
support space, including mechanical, telecommunications and utility rooms, as well
as building common areas.
                                                                  
(d) Represents monthly contractual rent (defined as cash rent including customer
reimbursements for metered power) under existing customer leases as of March 31,
2013, multiplied by 12. For the month of March 2013, customer reimbursements were
$20.3 million annualized and consisted of reimbursements by customers across all
facilities with separately metered power. Customer reimbursements under leases
with separately metered power vary from month-to-month based on factors such as
our customers' utilization of power and the suppliers' pricing of power. From
April 1, 2011 through March 31, 2013, customer reimbursements under leases with
separately metered power constituted between 7.2% and 9.7% of annualized rent.
After giving effect to abatements, free rent and other straight-line adjustments,
our annualized effective rent as of March 31, 2013 was $236,267,428. Our
annualized effective rent was greater than our annualized rent as ofMarch 31,
2013 because our positive straight-line and other adjustments and amortization of
deferred revenue exceeded our negative straight-line adjustments due to factors
such as the timing of contractual rent escalations and customer prepayments for
services.



CyrusOne Inc.
Lease Expirations
As of March 31, 2013
(Unaudited)

                                                                                           Percentage
               Number of    Total      Percentage                Percentage Annualized     of
Year^(a)       Leases       Operating  of         Annualized     of         Rent           Annualized
               Expiring^(b) NRSF       Total NRSF Rent^(c)       Annualized at             Rent
                            Expiring                             Rent       Expiration^(d) at
                                                                                           Expiration
Available                  395,231   23%                                              
Month-to-Month 250          47,843    3%         $10,377,892  5%         $10,377,892  4%
Remainder of   543          373,942   22%        $84,564,960  37%        $84,642,160  35%
2013
2014           382          115,888   7%         $29,516,754  13%        $29,516,754  12%
2015           468          217,206   13%        $35,587,026  16%        $40,471,445  17%
2016           85           22,622    1%         $11,477,208  5%         $12,378,553  5%
2017           79           202,939   12%        $24,434,472  11%        $25,054,384  11%
2018           26           36,552    2%         $6,929,433   3%         $7,097,493   3%
2019           2            94,401    5%         $4,864,124   2%         $4,864,124   2%
2020           3            81,997    5%         $6,000,225   3%         $6,000,225   3%
2021           2            28,697    1%         $3,877,195   2%         $6,013,195   3%
2022           6            46,163    3%         $5,412,101   2%         $9,859,682   4%
2023 -         6            45,989    3%         $2,704,329   1%         $3,197,534   1%
Thereafter
                                                                                    
Total          1,852       1,709,470 100%       $225,745,719 100%       $239,473,441 100%
                                                                                    
(a) Leases that were auto-renewed prior to March 31, 2013 are shown in the calendar year in which
their current auto-renewed term expires. Unless otherwise stated in the footnotes, the information
set forth in the table assumes that customers exercise no renewal options and exercise all early
termination rights that require payment of less than 50% of the remaining rents. Early termination
rights that require payment of 50% or more of the remaining lease payments are not assumed to be
exercised because such payments approximate the profitability margin of leasing that space to the
customer, such that we do not consider early termination to be economically detrimental to us.
                                                                                    
(b)Number of leases represents each agreement with a customer. A lease agreement could include
multiple spaces and a customer could have multiple leases.
                                                                                    
(c) Represents monthly contractual rent (defined as cash rent including customer reimbursements for
metered power) under existing customer leases as of March 31, 2013, multiplied by 12. For the month
of March 2013, customer reimbursements were $20.3 million annualized and consisted of reimbursements
by customers across all facilities with separately metered power. Customer reimbursements under
leases with separately metered power vary from month-to-month based on factors such as our customers'
utilization of power and the suppliers' pricing of power. From April 1, 2011 through March 31, 2013,
customer reimbursements under leases with separately metered power constituted between 7.2% and 9.7%
of annualized rent. After giving effect to abatements, free rent and other straight-line adjustments,
our annualized effective rent as of March 31, 2013 was $236,267,428. Our annualized effective rent
was greater than our annualized rent as ofMarch 31, 2013 because our positive straight-line and
other adjustments and amortization of deferred revenue exceeded our negative straight-line
adjustments due to factors such as the timing of contractual rent escalations and customer
prepayments for services.
                                                                                    
(d)Represents the final monthly contractual rent under existing customer leases that had commenced
as of March 31, 2013, multiplied by 12.

CONTACT: Investor Relations:
        
         Idalia Rodriguez or Jamie Lillis
         972-350-0060
         investorrelations@cyrusone.com
 
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