CyrusOne Reports Third Quarter 2013 Earnings

  CyrusOne Reports Third Quarter 2013 Earnings

              Record 62,000 CSF Leased and Revenue Growth of 19%

Business Wire

DALLAS -- November 6, 2013

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, today announced third quarter 2013
earnings.

Third Quarter Highlights

  *Record leasing of 62,000 colocation square feet, a 68% increase from the
    prior quarter and over 500% of the amount leased in the third quarter of
    2012, including the previously announced lease signed in July for the San
    Antonio facility
  *Revenue of $67.5 million increased 19% over the third quarter of 2012.
    Normalized FFO and AFFO ^ increased 44% and 46%, respectively, over the
    third quarter of 2012. Adjusted EBITDA growth of 21% over the third
    quarter of 2012
  *Completely leased the San Antonio data center one year ahead of schedule,
    leased over 60% of the Phoenix data center, and pre-leased over 25% of the
    second data hall in the Carrollton facility
  *Launched CyrusOne Market Place and CyrusOne Express in early October, an
    innovative online tool and product line that provide simple and efficient
    data center solutions for small and medium sized businesses
  *Added six Fortune 1000 companies as new customers, bringing total Fortune
    1000 customers to 128

“Our results this quarter highlight the broad strength of the platform we have
created. This platform is uniquely focused on providing data center solutions
to Fortune 1000 customers, who continue to trust CyrusOne to manage their most
mission critical applications. This was our strongest leasing quarter ever and
positions us well to meet our annual financial guidance for 2013,” said Gary
Wojtaszek, president and chief executive officer of CyrusOne. “We are excited
about the recent launch of the CyrusOne Market Place and CyrusOne Express,
which, in addition to the CyrusOne National Internet Exchange (IX) product
that was launched last quarter, highlight the creativity and innovation
CyrusOne brings to the market.”

Financial Results

Revenue was $67.5 million for the third quarter, compared to $56.7 million for
the same period in 2012, or an increase of 19%. Revenue growth was entirely
organic and driven by strong leasing activity from the past several quarters.
Operating income improved $0.8 million from the third quarter of 2012 as
increased revenue of $10.8 million was offset by increased property operating
expenses of $4.2 million, general and administrative expenses of $1.9 million
and depreciation and amortization of $5.1 million, partially offset by fewer
non-recurring charges. Net loss was $2.2 million for the third quarter,
compared to a net loss of $2.8 million in the same period in 2012.

Net operating income (NOI)^1 was $43.3 million for the third quarter, compared
to $36.7 million in the same period in 2012, an increase of 18%. The increase
in NOI was primarily due to the increase in revenue, partially offset by
additional property operating costs from new facilities and expansions at
existing facilities. Adjusted EBITDA^2 was $36.5 million for the third
quarter, compared to $30.1 million in the same period in 2012, an increase of
21%. The Adjusted EBITDA margin of 54.1% in the third quarter improved from
53.1% in the same period in 2012.

Normalized Funds From Operations (Normalized FFO)^3 was $21.9 million for the
third quarter, compared to $15.2 million in the same period in 2012, an
increase of 44%. The increase in Normalized FFO was primarily due to growth in
Adjusted EBITDA with lower interest expense as the company is using cash on
hand to fund future growth. Normalized FFO per diluted common share or common
share equivalent^4 was $0.33 in the third quarter of 2013. Adjusted Funds From
Operations (AFFO)^5 was $19.3 million for the third quarter, compared to $13.2
million in the same period in 2012, an increase of 46%.

Leasing Activity

CyrusOne leased approximately 62,000 colocation square feet (CSF) or 12.8 MW
of power in the third quarter, compared to 11,000 CSF in the same period in
2012. The company added six new Fortune 1000^6 customers in the period,
bringing the total to 128 Fortune 1000 companies and 598 customers in total as
of September 30, 2013. The weighted average lease term of the new leases based
on square footage was 57 months, and approximately 86% of the CSF was leased
to metered customers with the remainder leased on a full service basis.
Recurring rent churn^7 for the third quarter of 2013 was 1.0%, compared to
1.5% for the third quarter of 2012.

The CyrusOne National IX continued to gain traction as approximately 75% of
new leases included IX services, up from 68% last quarter. The broad and
increased acceptance of the IX suite of services highlights the benefits of
our innovative connectivity solution. The CyrusOne National IX creates a
virtual data center platform that mirrors the data center architecture
deployed by most Fortune 1000 companies. This quarter, IX products increased
average rent by 29% for those customers that signed new leases with
interconnectivity.

Portfolio Utilization and Development

CSF available as of September 30, 2013 were approximately 992,000 across 25
facilities, an increase of approximately 96,000, or 11%, from a year ago. In
the third quarter of 2013, the company added 22,000 CSF. Construction of an
additional data hall was completed at West Seventh Street in Cincinnati, Ohio,
which is the company’s flagship data center in Cincinnati and one of the
largest carrier hotels in the Midwest. The company also commissioned and
leased the remainder of the San Antonio facility. CSF utilization^8 for the
third quarter was 85%, compared to 78% in the same period in 2012 and 81% in
the second quarter of 2013. In October, the company commissioned approximately
60,000 CSF at its Carrollton facility, of which more than 25% was pre-leased.
Lastly, construction on a new San Antonio facility on the 22 acres of land
acquired in August will commence in the fourth quarter.

Balance Sheet and Liquidity

As of September 30, 2013, the company had $543.8 million of long-term debt,
cash and cash equivalents of $213.2 million, and an undrawn $225.0 million
senior secured revolving credit facility. Net debt^9 was $330.6 million as of
September 30, 2013, or approximately 21% of the company's total enterprise
value or 2.3x Adjusted EBITDA annualized. Available liquidity^10 was $438.2
million as of September 30, 2013.

Dividend

On September 4, 2013, the company announced a dividend of $0.16 per share of
common stock and common stock equivalent for the third quarter of 2013. The
dividend was paid on October 15, 2013 to shareholders of record at the close
of business on September 27, 2013.

2013 Guidance

CyrusOne is refining guidance for the full-year of 2013 at this time with
improved visibility on results. Revenue guidance ranges has been narrowed to
$260 to $265 million from the prior range of $260 of $270 million. Also, the
capital expenditures categories for development and land acquisition have been
combined.

     Category                                       Guidance
          Revenue                                          $260 - $265 million
          Adjusted EBITDA                                  $133 - $137 million
          Normalized FFO per diluted common share or       $1.15 - $1.25
          common share equivalent*
          Capital Expenditures
          Development                                      $210 - $216 million
          Recurring                                        $4 - $6 million
          Acquisition of Leased Facilities**               $28 million

*   Calculated as if all diluted common shares and common share equivalents
     were issued and outstanding on January 1, 2013.
     Inclusive of all amounts spent on acquisition of leased facilities,
**   including dollars not reported through the capital expenditures captions
     on the GAAP cash flow statement.
     

The annual guidance provided above represents forward-looking projections,
which are based on current economic conditions, internal assumptions about the
company's 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

  *REITWorld 2013: NAREIT's Annual Convention for All Things REIT on November
    13-15 in San Francisco
  *Raymond James Systems, Semiconductors, Software and Supply Chain
    Conference on December 9-10 in New York
  *Citi 2014 Internet Media & Telecom Conference on January 6-8 in Las Vegas

Conference Call Details

CyrusOne will host a conference call on November 6, 2013 at 5:00 PM Eastern
Time (4:00 PM Central Time) to discuss its results for the third 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
1-866-652-5200, and the international dial-in number is 1-412-317-6060.
Passcode for the call is 10036203. A replay will be available one hour after
the conclusion of the earnings call on November 6, 2013, until 9:00 AM (ET) on
November 14, 2013. The U.S. toll-free replay dial-in number is 1-877-344-7529
and the international replay dial-in number is 1-412-317-0088. Replay passcode
is 10036203. 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 contains 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 (including annual guidance for
the remainder of 2013), 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 10-K
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, Net Operating
Income, Adjusted Funds From Operations, Adjusted EBITDA, and Net debt should
not be construed as being more important than or substitutes for 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.

Management uses FFO, Normalized FFO, NOI, AFFO and Adjusted EBITDA 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. Management uses net debt as a supplemental measure
of the Company’s liquidity and financial health. The company also believes
that, as widely recognized measures of the performance and financial position
of real estate investment trusts (REITs) and other companies, these measures
are used by investors as a basis to compare its operating performance and
financial position 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, NOI, AFFO and
Adjusted EBITDA should be considered only as supplements to net income as
measures of our performance. FFO, Normalized FFO, NOI, AFFO 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.

^1Net Operating Income (NOI) is defined as revenue less property operating
expenses. Unlike operating income, net operating income excludes depreciation
and amortization (including deferred leasing costs). Net operating income also
excludes certain costs that are not property specific, but rather support our
entire portfolio, such as sales and marketing costs (consisting of salaries
and benefits for our internal sales staff, travel and entertainment, office
supplies, marketing and advertising costs) and general and administrative
costs (consisting of salaries and benefits of our senior management and
support functions, legal and consulting costs, and other administrative
costs). CyrusOne has not historically incurred any tenant improvement costs.

^2Adjusted EBITDA is defined as net (loss) income before noncontrolling
interests as defined by U.S. GAAP plus interest expense, other income, income
tax (benefit) expense, depreciation and amortization, restructuring charges,
legal claim costs, transaction costs and transaction-related compensation,
including acquisition pursuit costs, loss on sale of receivables to affiliate,
non-cash compensation, (gain) loss on extinguishment of debt, asset
impairments, (gain) loss on sale of real estate improvements, and other
special items.

^3Normalized Funds From Operations (Normalized FFO) is defined as Funds From
Operations (FFO) plus transaction costs, including acquisition pursuit costs,
transaction-related compensation, (gain) loss on extinguishment of debt,
restructuring charges, legal claim costs and other special items. FFO
represents net (loss) income before noncontrolling interests computed in
accordance with U.S. GAAP, real estate-related depreciation and amortization,
amortization of customer relationship intangibles, real estate and customer
relationship intangible impairments, and (gain) loss from sales of real estate
improvements. 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.

^4Normalized FFO per diluted common share or common share equivalent is
defined as Normalized FFO divided by the average diluted common shares and
common share equivalents outstanding for the quarter, which were approximately
64.7 million for the third quarter of 2013.

^5Adjusted Funds From Operations (AFFO) is defined 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.

^6Fortune 1000 customers include subsidiaries whose ultimate parent is a
Fortune 1000 company or a foreign or private company of equivalent size.

^7Recurring 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.

^8Utilization rate 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.

^9Net debt is defined as long-term debt and capital lease obligations, offset
by cash, cash equivalents, and temporary cash investments.

^10Available liquidity 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 575 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 25 data centers worldwide.

                                                                                                        
CyrusOne Inc.

Combined Statements of Operations

(Dollars in millions, except per share amounts)

(Unaudited)
                                                                                                                     
                          Three Months Ended                                  Nine Months Ended
                          September 30,            Change                     September 30,             Change
                        2013        2012         $            %          2013        2012          $            %
Revenue                 $ 67.5        $ 56.7       $ 10.8       19   %      $ 191.2       $ 162.8       $ 28.4       17  %
Costs and expenses:
Property operating      24.2          20.0         4.2          21   %      68.9          55.3          13.6         25  %
expenses
Sales and marketing     2.3           2.1          0.2          10   %      8.0           5.8           2.2          38  %
General and             7.2           5.3          1.9          36   %      21.2          15.4          5.8          38  %
administrative
Transaction-related     —             —            —            n/m         20.0          —             20.0         n/m
compensation
Depreciation and        23.9          18.8         5.1          27   %      68.6          52.9          15.7         30  %
amortization
Restructuring           0.7           —            0.7          n/m         0.7           —             0.7          n/m
charges
Transaction costs       0.7           0.6          0.1          17   %      1.2           1.3           (0.1   )     (8  )%
Management fees         —             0.9          (0.9   )     n/m         —             2.1           (2.1   )     n/m
charged by CBI
Loss on sale of
receivables to          —             1.3          (1.3   )     n/m         —             3.7           (3.7   )     n/m
affiliate
Asset impairments       —            —           —           n/m        —            13.3         (13.3  )     n/m 
Total costs and         59.0         49.0        10.0        20   %      188.6        149.8        38.8        26  %
expenses
Operating income        8.5           7.7          0.8          10   %      2.6           13.0          (10.4  )     (80 )%
Interest expense        10.5          11.3         (0.8   )     (7   )%     32.2          31.2          1.0          3   %
Other income            (0.1    )     —            (0.1   )     n/m         (0.1    )     —             (0.1   )     n/m
Loss on
extinguishment of       —            —           —           n/m        1.3          —            1.3         n/m 
debt
Loss before income      (1.9    )     (3.6   )     1.7          (47  )%     (30.8   )     (18.2   )     (12.6  )     69  %
taxes
Income tax              (0.3    )     0.7         (1.0   )     (143 )%     (1.2    )     4.7          (5.9   )     n/m 
(expense) benefit
Net loss                (2.2    )     (2.9   )     0.7         (24  )%     (32.0   )     (13.5   )     (18.5  )     n/m 
Gain on sale of
real estate             —             0.1          (0.1   )     n/m         —             0.1           (0.1   )     n/m
improvements
Net loss attributed     —             (2.8   )     2.8          (100 )%     (20.2   )     (13.4   )     (6.8   )     n/m
to Predecessor
Noncontrolling
interest in net         1.4          —           1.4         n/m        7.8          —            7.8         n/m 
loss
Net loss attributed
to common               $ (0.8  )     $ —         $ (0.8 )     n/m        $ (4.0  )     $ —          $ (4.0 )     n/m 
stockholders
Loss per common
share - basic and       $ (0.05 )     n/a                                   $ (0.22 )     n/a
diluted
                                                                                                                     

                                                 
CyrusOne Inc.

Combined Balance Sheets

(Dollars in millions)

(Unaudited)
                                                                          
                     September 30,     December 31,     Change
                     2013              2012             $           %
Assets
Investment in
real estate:
Land                 $  81.5           $  44.5          $ 37.0        83  %
Buildings and        778.2             722.5            55.7          8   %
improvements
Equipment            134.3             52.4             81.9          n/m
Construction in      63.2             64.2            (1.0    )     (2  )% 
progress
Subtotal             1,057.2           883.6            173.6         20  %
Accumulated          (218.6      )     (176.7     )     (41.9   )     24  %  
depreciation
Net investment       838.6            706.9           131.7        19  %  
in real estate
Cash and cash        213.2             16.5             196.7         n/m
equivalents
Rent and other       33.9              33.2             0.7           2   %
receivables
Restricted cash      —                 6.3              (6.3    )     n/m
Goodwill             276.2             276.2            —             0      %
Intangible           89.9              102.6            (12.7   )     (12 )%
assets, net
Due from             0.9               2.2              (1.3    )     (59 )%
affiliates
Other assets         67.2             67.0            0.2          0      %
Total assets         $  1,519.9       $  1,210.9      $ 309.0      26  %  
Liabilities and
Equity
Accounts payable
and accrued          $  67.8           $  37.1          $ 30.7        83  %
expenses
Deferred revenue     55.1              52.8             2.3           4   %
Due to               7.0               2.9              4.1           n/m
affiliates
Capital lease        18.8              32.2             (13.4   )     (42 )%
obligations
Long-term debt       525.0             525.0            —             0      %
Other financing      55.8             60.8            (5.0    )     (8  )% 
arrangements
Total                729.5            710.8           18.7         3   %  
liabilities
Shareholders’
Equity /
Parent’s net
investment:
Preferred stock,
$.01 par value,
100,000,000          —                 —                —             n/m
authorized; no
shares issued or
outstanding
Common stock,
$.01 par value,
500,000,000
shares
authorized and       0.2               —                0.2           n/m
22,116,172
shares issued
and outstanding
at September 30,
2013
Common stock,
$.01 par value,
1,000 shares
authorized and
100 shares           —                 —                —             n/m
issued and
outstanding at
December 31,
2012
Paid in capital      339.4             7.1              332.3         n/m
Accumulated          (14.2       )     —                (14.2   )     n/m
deficit
Partnership          —                493.0           (493.0  )     n/m    
capital
Total
shareholders’
equity /             325.4             500.1            (174.7  )     (35 )%
parent’s net
investment
Noncontrolling       465.0            —               465.0        n/m    
interests
Total Equity         790.4            500.1           290.3        58  %  
Total
liabilities and
shareholders’        $  1,519.9       $  1,210.9      $ 309.0      26  %  
equity /
parent’s net
investment
                                                                             

                                                                    
CyrusOne Inc.

Combined Statements of Operations

(Dollars in millions, except per share amounts)

(Unaudited)
                                                                                       
For the three           September     June 30,      March 31,     December     September
months ended:           30,                                       31,          30,
                        2013          2013          2013          2012         2012
Revenue                 $ 67.5        $ 63.6        $ 60.1        $ 58.0       $  56.7
Costs and expenses:
Property operating      24.2          24.6          20.1          20.6         20.0
expenses
Sales and marketing     2.3           2.9           2.8           4.0          2.1
General and             7.2           7.1           6.9           5.4          5.3
administrative
Transaction-related     —             —             20.0          —            —
compensation
Depreciation and        23.9          23.0          21.7          20.4         18.8
amortization
Restructuring           0.7           —             —             —            —
charges
Transaction costs       0.7           0.4           0.1           4.4          0.6
Management fees         —             —             —             0.4          0.9
charged by CBI
(Gain) loss on sale
of receivables to       —             —             —             (0.4   )     1.3
affiliate
Asset impairments       —            —            —            —           —       
Total costs and         59.0         58.0         71.6         54.8        49.0    
expenses
Operating income        8.5           5.6           (11.5   )     3.2          7.7
(loss)
Interest expense        10.5          10.8          10.9          10.5         11.3
Other income            (0.1    )     —             —             —            —
Loss on
extinguishment of       —            1.3          —            —           —       
debt
Loss before income      (1.9    )     (6.5    )     (22.4   )     (7.3   )     (3.6    )
taxes
Income tax              (0.3    )     (0.3    )     (0.6    )     0.4         0.7     
(expense) benefit
Net loss from
continuing              (2.2    )     (6.8    )     (23.0   )     (6.9   )     (2.9    )
operations
Gain on sale of
real estate             —             —             —             —            0.1
improvements
Net loss attributed     —             —             (20.2   )     (6.9   )     (2.8    )
to Predecessor
Noncontrolling
interest in net         1.4          4.5          1.9          —           —       
loss
Net loss attributed
to common               $ (0.8  )     $ (2.3  )     $ (0.9  )     $ —         $  —    
stockholders
Loss per common
share - basic           $ (0.05 )     $ (0.12 )     $ (0.05 )     n/a          n/a
diluted
                                                                                       

                                                                    
CyrusOne Inc.

Combined Balance Sheets

(Dollars in millions)

(Unaudited)
                                                                           
                   September     June 30,      March 31,     December      September
                   30,                                       31,           30,
                   2013          2013          2013          2012          2012
Assets
Investment in
real estate:
Land               $ 81.5        $ 74.6        $ 44.4        $ 44.5        $ 41.2
Buildings and      778.2         778.5         740.7         722.5         666.5
improvements
Equipment          134.3         97.4          68.7          52.4          43.2
Construction       63.2         48.2         92.6         64.2         56.6      
in progress
Subtotal           1,057.2       998.7         946.4         883.6         807.5
Accumulated        (218.6    )   (208.7    )   (192.1    )   (176.7    )   (162.9    )
depreciation
Net investment     838.6        790.0        754.3        706.9        644.6     
in real estate
Cash and cash      213.2         267.1         328.6         16.5          3.2
equivalents
Rent and other     33.9          27.2          30.0          33.2          —
receivables
Restricted         —             —             2.6           6.3           10.4
cash
Goodwill           276.2         276.2         276.2         276.2         276.2
Intangible         89.9          94.1          98.4          102.6         106.7
assets, net
Due from           0.9           1.6           23.2          2.2           9.6
affiliates
Other assets       67.2         63.6         60.7         67.0         40.1      
Total assets       $ 1,519.9    $ 1,519.8    $ 1,574.0    $ 1,210.9    $ 1,090.8 
Liabilities
and Equity
Accounts
payable and        $ 67.8        $ 59.3        $ 78.7        $ 37.1        $ 41.9
accrued
expenses
Deferred           55.1          52.8          51.7          52.8          52.1
revenue
Due to             7.0           7.7           8.2           2.9           —
affiliates
Capital lease      18.8          19.8          31.0          32.2          38.0
obligations
Long-term debt     525.0         525.0         525.0         525.0         —
Related party      —             —             —             —             612.1
notes payable
Other
financing          55.8         54.0         62.9         60.8         49.2      
arrangements
Total              729.5        718.6        757.5        710.8        793.3     
liabilities
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           0.2           0.2           —             —
22,116,172
shares issued
and
outstanding at
September 30,
2013
Common stock,
$.01 par
value, 1,000
shares
authorized and     —             —             —             —             —
100 shares
issued and
outstanding at
December 31,
2012
Paid in            339.4         337.5         335.7         7.1           —
capital
Accumulated        (14.2     )   (9.7      )   (3.9      )   —             —
deficit
Partnership        —            —            —            493.0        297.5     
capital
Total
shareholders’
equity /           325.4         328.0         332.0         500.1         297.5
parent’s net
investment
Noncontrolling     465.0        473.2        484.5        —            —         
interests
Total Equity       790.4        801.2        816.5        500.1        297.5     
Total
liabilities
and
shareholders’      $ 1,519.9    $ 1,519.8    $ 1,574.0    $ 1,210.9    $ 1,090.8 
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
                                                 2013             Ended
                            to January 23,
                            2013                 to March 31,     March 31,
                                                 2013             2013
Revenue                     $     15.1           $  45.0          $  60.1
Costs and expenses:
Property operating          4.8                  15.3             20.1
expenses
Sales and marketing         0.7                  2.1              2.8
General and                 1.5                  5.4              6.9
administrative
Transaction-related         20.0                 —                20.0
compensation
Depreciation and            5.3                  16.4             21.7
amortization
Transaction costs           0.1                 —               0.1       
Total costs and             32.4                 39.2             71.6
expenses
Operating income (loss)     (17.3        )       5.8              (11.5     )
Interest expense            2.5                 8.4             10.9      
Loss before income          (19.8        )       (2.6      )      (22.4     )
taxes
Income tax (expense)        (0.4         )       (0.2      )      (0.6      )
benefit
Net loss                    (20.2        )       (2.8      )      (23.0     )
Net loss attributed to      (20.2        )       —                (20.2     )
Predecessor
Noncontrolling interest     —                   1.9             1.9       
in net loss
Net loss attributed to      $     —             $  (0.9   )      $  (0.9   )
common stockholders
Loss per common share -     n/a                  $  (0.05  )      $  (0.05  )
basic and diluted
                                                                            

                                                            
CyrusOne Inc.

Reconciliation of Statement of Operations for the Nine Months Ended September
30, 2013

(Dollars in millions, except per share amounts)

(Unaudited)
                                                                  
                           Predecessor          Successor         Combined
                           January 1, 2013      January 24,       Nine Months
                                                2013 to           Ended
                           to January 23,       September 30,     September
                           2013                 2013              30, 2013
Revenue                    $     15.1           $   176.1         $  191.2
Costs and expenses:
Property operating         4.8                  64.1              68.9
expenses
Sales and marketing        0.7                  7.3               8.0
General and                1.5                  19.7              21.2
administrative
Transaction-related        20.0                 —                 20.0
compensation
Depreciation and           5.3                  63.3              68.6
amortization
Restructuring charges      —                    0.7               0.7
Transaction costs          0.1                 1.1              1.2       
Total costs and expenses   32.4                156.2            188.6     
Operating income (loss)    (17.3        )       19.9              2.6
Interest expense           2.5                  29.7              32.2
Other income               —                    (0.1       )      (0.1      )
Loss on extinguishment     —                   1.3              1.3       
of debt
Loss before income taxes   (19.8        )       (11.0      )      (30.8     )
Income tax (expense)       (0.4         )       (0.8       )      (1.2      )
benefit
Net loss                   (20.2        )       (11.8      )      (32.0     )
Net loss attributed to     (20.2        )       —                 (20.2     )
Predecessor
Noncontrolling interest    —                   7.8              7.8       
in net loss
Net loss attributed to     $     —             $   (4.0   )      $  (4.0   )
common stockholders
Loss per common share -    n/a                  $   (0.22  )      $  (0.22  )
basic and diluted
                                                                            

                                                                    
CyrusOne Inc.

Net Operating Income and Reconciliation of Net Loss to Adjusted EBITDA

(Dollars in millions)

(Unaudited)
                                                                             
                        Nine Months Ended                                    Three Months Ended
                        September 30,               Change                   September   June 30,   March 31,   December   September
                                                                             30,                                      31,          30,
                        2013        2012          $             %          2013          2013         2013          2012         2012
Net Operating
Income
Revenue                 $ 191.2       $ 162.8       $ 28.4        17  %      $  67.5       $ 63.6       $ 60.1        $ 58.0       $  56.7
Property operating      68.9         55.3         13.6          25  %      24.2         24.6        20.1         20.6        20.0    
expenses
Net Operating           $ 122.3      $ 107.5      $ 14.8        14  %      $  43.3      $ 39.0      $ 40.0       $ 37.4      $  36.7 
Income (NOI)
NOI as a % of           64.0    %     66.0    %                              64.1    %     61.3   %     66.6    %     64.5   %     64.7    %
Revenue
Reconciliation of
Net Loss to
Adjusted EBITDA:
Net loss                $ (32.0 )     $ (13.4 )     $ (18.6 )     n/m        $  (2.2 )     $ (6.8 )     $ (23.0 )     $ (6.9 )     $  (2.8 )
Adjustments:
Interest expense        32.2          31.2          1.0           3   %      10.5          10.8         10.9          10.5         11.3
Other income            (0.1    )     —             (0.1    )     n/m        (0.1    )     —            —             —            —
Income tax              1.2           (4.7    )     5.9           n/m        0.3           0.3          0.6           (0.4   )     (0.7    )
(benefit) expense
Depreciation and        68.6          52.9          15.7          30  %      23.9          23.0         21.7          20.4         18.8
amortization
Restructuring           0.7           —             0.7           n/m        0.7           —            —             —            —
charges
Legal claim costs       0.7           —             0.7           n/m        0.7           —            —             —            —
Transaction costs       1.2           1.3           (0.1    )     (8  )%     0.7           0.4          0.1           4.4          0.6
Loss on sale of
receivables to          —             3.7           (3.7    )     n/m        —             —            —             (0.4   )     1.3
affiliate
Non-cash                5.0           2.6           2.4           92  %      2.0           1.8          1.2           0.8          1.7
compensation
Asset impairments       —             13.3          (13.3   )     n/m        —             —            —             —            —
Loss on
extinguishment of       1.3           —             1.3           n/m        —             1.3          —             —            —
debt
Gain on sale of
real estate             —             (0.1    )     0.1           n/m        —             —            —             —            (0.1    )
improvements
Transaction-related     20.0         —            20.0          n/m        —            —           20.0         —           —       
compensation
Adjusted EBITDA         $ 98.8       $ 86.8       $ 12.0        14  %      $  36.5      $ 30.8      $ 31.5       $ 28.4      $  30.1 
Adjusted EBITDA as      51.7    %     53.3    %                              54.1    %     48.4   %     52.4    %     49.0   %     53.1    %
a % of Revenue
                                                                                                                                           

                                                                
CyrusOne Inc.

Reconciliation of Net Loss to FFO, Normalized FFO, and AFFO

(Dollars in millions)

(Unaudited)
                                                                                                                                 
                        Nine Months Ended                             Three Months Ended
                                                                                   June 30,   March 31,   December     September
                        September 30,           Change                 September                       31,         30,       
                                                                       30, 2013    2013       2013
                        2013       2012       $             %                                           2012        2012
Reconciliation of
Net Loss to FFO and
Normalized FFO:
Net income (loss)       $ (32.0 )   $ (13.4 )   $ (18.6 )     n/m      $ (2.2  )   $ (6.8 )   $ (23.0 )   $  (6.9  )   $   (2.8  )
Adjustments:
Real estate
depreciation and        50.6        37.5        13.1          35  %    17.8        16.9       15.9        15.4         13.6
amortization
Amortization of
customer                12.6        12.1        0.5           4   %    4.2         4.2        4.2         3.9          4.0
relationship
intangibles
Real estate             —           11.7        (11.7   )     n/m      —           —          —           —            (0.1      )
impairments
Customer
relationship            —           1.5         (1.5    )     n/m      —           —          —           —            —
intangible
impairments
Gain on sale of
real estate             —          (0.1    )   0.1           n/m      —          —         —          —           (0.1      )
improvements
Funds from              $ 31.2      $ 49.3      (18.1   )     n/m      $  19.8     $ 14.3     $ (2.9  )   $  12.4      $   14.6
Operations (FFO)
Transaction-related     20.0        —           20.0          n/m      —           —          20.0        —            —
compensation
Loss on
extinguishment of       1.3         —           1.3           n/m      —           1.3        —           —            —
debt
Restructuring           0.7         —           0.7           n/m      0.7         —          —           —            —
charges
Legal claim costs       0.7         —           0.7           n/m      0.7         —          —           —            —
Transaction costs       1.2        1.3        (0.1    )     (8  )%   $  0.7     $ 0.4     $ 0.1      4.4         0.6       
Normalized Funds
from Operations         $ 55.1     $ 50.6     $ 4.5         9   %    $  21.9    $ 16.0    $ 17.2     $  16.8     $   15.2  
(Normalized FFO)
Normalized FFO per
diluted common          $ 0.85      n/a         $ —           n/m      $  0.33     0.25       0.27        n/a          n/a
share or common
share equivalent*
Reconciliation of
Normalized FFO to
AFFO:
Normalized FFO          $ 55.1      $ 50.6      4.5           9   %    $  21.9     $ 16.0     $ 17.2      $  16.8      $   15.2
Adjustments:
Amortization of
deferred financing      2.8         —           2.8           n/m      0.5         1.7        0.6         0.3          —
costs
Non-cash                5.0         2.6         2.4           92  %    2.0         1.8        1.2         0.8          1.7
compensation
Non-real estate
depreciation and        5.4         3.4         2.0           59  %    1.9         1.9        1.6         1.1          1.2
amortization
Deferred revenue
and straight line       (9.7    )   (6.0    )   (3.7    )     62  %    (3.7    )   (3.7   )   (2.3    )   (2.3     )   (2.0      )
rent adjustments
Leasing commissions     (5.1    )   (3.3    )   (1.8    )     55  %    (1.7    )   (2.5   )   (0.9    )   (1.1     )   (1.0      )
Recurring capital       (2.3    )   (2.3    )   —             —   %    (1.6    )   (0.4   )   (0.3    )   (1.6     )   (1.0      )
expenditures
Corporate income
tax (benefit)           0.4        (5.3    )   5.7           n/m      —          —         0.4        (0.5     )   (0.9      )
expense
Adjusted Funds from     $ 51.6     $ 39.7     $ 11.9        30  %    $  19.3    $ 14.8    $ 17.5     $  13.5     $   13.2  
Operations (AFFO)

    Assumes diluted common shares and common share equivalents were
*  outstanding as of January 1, 2013 for the Three Months Ended March 31,
    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     September 30, 2013     (in millions)
Common shares             22,116,172      $      19.00           $  420.2
Operating Partnership     42,586,835      $      19.00           809.1
units
Net Debt                                                         330.6       
Total Enterprise                                                 $  1,559.9  
Value (TEV)
Net Debt as a % of                                               21.2        %
TEV
Net Debt to LQA                                                  2.3x
Adjusted EBITDA
                                                                 

Reconciliation                                           
of Net Debt
                                                                  
(Dollars in          September        June 30,      March 31,     December 31,
millions)            30,
                     2013             2013          2013          2012
Long-term debt       $  525.0         $ 525.0       $ 525.0       $  525.0
Capital lease        18.8             19.8          31.0          32.2
obligations
Less:
Cash and cash        (213.2    )      (267.1  )     (328.6  )     (16.5     )
equivalents
Net Debt             $  330.6        $ 277.7      $ 227.4      $  540.7  
                                                                            

                                                             
CyrusOne Inc.

Colocation Square Footage (CSF) and Utilization

(Unaudited)
                                                                                     
                  As of September 30,      As of December 31,       As of September 30,
                  2013                     2012                     2012
                  CSF                      CSF                      CSF
Market            Capacity   %            Capacity   %            Capacity   %
                              Utilized                 Utilized                 Utilized
                  (Sq Ft)                  (Sq Ft)                  (Sq Ft)
Cincinnati        419,231     87   %       411,730     92   %       411,730     92   %
Dallas            171,780     93   %       171,100     69   %       171,100     67   %
Houston           230,718     85   %       188,602     93   %       188,602     87   %
Austin            54,003      63   %       57,078      32   %       57,078      30   %
Phoenix           36,366      64   %       36,222      0%           —           0%
San Antonio       43,487      99   %       35,765      61   %       35,765      17   %
Chicago           23,298      52   %       23,278      52   %       23,278      58   %
International     13,200     78   %       8,200      52   %       8,200      24   %
Total             992,083    85   %       931,975    78   %       895,753    78   %
Footprint
                                                                                     

                                                        
CyrusOne Inc.

2013 Guidance

(Unaudited)
                                                           
                                                           Full Year 2013
Revenue                                                    $260 - $265 million
Adjusted EBITDA                                            $133 - $137 million
Normalized FFO per diluted common share or common          $1.15 - $1.25
share equivalent*
                                                           
Capital Expenditures
Development                                                $210 - $216 million
Recurring                                                  $4 - $6 million
Acquisition of Leased Facilities**                         $28 million

*   Calculated as if all diluted common shares and common share equivalents
     were issued and outstanding as of January 1, 2013.
     Inclusive of all amounts spent on acquisition of leased facilities,
**   including dollars not reported through the capital expenditures captions
     on the GAAP cash flow statement.

                                                                                                                                             
CyrusOne Inc.

Data Center Portfolio

As of September30, 2013

(Unaudited)
                                                                                                                                                        
                                                                                                                                        Powered
                                                         Operating Net Rentable Square Feet (NRSF)^(a)
                                                                                                                                        Shell
                                                                                                                                                        Available
                                                                                                                                        Available       UPS
                                                         Colocation                   Supporting                                                        Capacity
                    Metropolitan     Annualized                         Office &                                         Percent        for Future      (MW)[(i)]
Facilities                                               Space                    Infrastructure   Total^(f)    
                    Area             Rent^(b)                           Other^(d)                                        Leased^(g)     Development
                                                         (CSF)^(c)                    ^(e)
                                                                                                                                        (NRSF)^(h)
Southwest Fwy.      Houston          $ 45,273,693        63,469         17,259        23,203             103,931         90     %       —               14
(Galleria)
Westway Park
Blvd. (Houston      Houston          41,053,448          112,133        12,735        37,636             162,504         96     %       3,000           28
West 1)
S. State Hwy
121 Business        Dallas           36,208,463          108,687        11,399        59,346             179,432         91     %       —               18
(Lewisville)*
West Seventh
Street (7th         Cincinnati       34,743,159          211,672        5,744         171,561            388,977         88     %       37,000          13
St.)***
Fujitec Drive       Cincinnati       19,386,260          65,303         36,261        49,159             150,723         76     %       72,000          14
(Lebanon)
Industrial Road     Cincinnati       14,942,902          52,698         46,848        40,374             139,920         94     %       —               9
(Florence)
Knightsbridge
Drive               Cincinnati       12,231,822          46,565         1,077         35,336             82,978          90     %       —               10
(Hamilton)*
W. Frankford
Road                Dallas           7,256,565           47,438         19,706        35,592             102,736         57     %       441,000         3
(Carrollton)
Westover Hills
Blvd. (San          San Antonio      6,162,321           43,487         2,351         35,955             81,793          97     %       23,000          12
Antonio 1)
Parkway Dr.         Cincinnati       5,877,943           34,072         26,458        17,193             77,723          99     %       —               4
(Mason)
E. Ben White
Blvd. (Austin       Austin           5,682,784           16,223         21,376        7,516              45,115          95     %       —               2
1)*
Midway Rd.**        Dallas           5,397,262           8,390          —             —                  8,390           100    %       —               1
Metropolis
Drive (Austin       Austin           5,375,381           37,780         4,128         18,444             60,352          38     %       —               5
2)
Kestral Way         London           4,492,884           10,000         —             —                  10,000          99     %       —               1
(London)**
Springer Street     Chicago          2,283,510           13,516         4,115         12,230             29,861          59     %       29,000          3
(Lombard)
Marsh Ln.**         Dallas           2,073,446           4,245          —             —                  4,245           100    %       —               —
Westway Park
Blvd. (Houston      Houston          1,776,560           42,116         3,065         31,344             76,525          26     %       77,000          6
West 2)
Goldcoast Drive     Cincinnati       1,517,714           2,728          5,280         16,481             24,489          100    %       14,000          1
(Goldcoast)
E. Monroe
Street (Monroe      South Bend       1,161,531           6,350          —             6,478              12,828          65     %       4,000           —
St.)
North Fwy.          Houston          1,034,598           13,000         1,449         —                  14,449          100    %       —               —
(Greenspoint)**
Bryan St.**         Dallas           1,029,418           3,020          —             —                  3,020           58     %       —               —
South Ellis
Street              Phoenix          816,715             36,366         36,135        38,411             110,912         28     %       76,000          3
(Phoenix)
Crescent Circle     South Bend       734,883             3,432          —             5,125              8,557           49     %       11,000          —
(Blackthorn)*
McAuley Place       Cincinnati       551,268             6,193          6,950         2,166              15,309          71     %       —               —
(Blue Ash)*
Jurong East         Singapore        325,240            3,200         —            —                 3,200          12     %       —              2
(Singapore)**
Total                                $ 257,389,770      992,083       262,336      643,550           1,897,969      80     %       787,000        143

      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.
      Represents the total square feet of a building under lease or available
(a)   for lease based on engineers’ drawings and estimates but does not
      include space held for development or space used by CyrusOne.
      Represents monthly contractual rent (defined as cash rent including
      customer reimbursements for metered power) under existing customer
      leases as of September 30, 2013, multiplied by 12. For the month of
      September 2013, customer reimbursements were $22.9 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
(b)   power. From October 1, 2011 through September 30, 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 September 30, 2013 was $274,859,776. Our
      annualized effective rent was greater than our annualized rent as of
      September 30, 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.
      CSF represents the NRSF at an operating facility that is currently
(c)   leased or readily available for lease as colocation space, where
      customers locate their servers and other IT equipment.
      Represents the NRSF at an operating facility that is currently leased or
(d)   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.
      Represents the NRSF at an operating facility that is currently leased or
(f)   readily available for lease. This excludes existing vacant space held
      for development.
      Percent leased is determined based on NRSF being billed to customers
      under signed leases as of September 30, 2013 divided by total NRSF.
(g)   Leases signed but not commenced as of September 30, 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.
      UPS Capacity (also referred to as critical load) represents the
      aggregate power available for lease to and exclusive use by customers
(i)   from the facility’s installed universal power supplies (UPS) expressed
      in terms of megawatts. The capacity presented is for non-redundant
      megawatts, as we can develop flexible solutions to our customers at
      multiple resiliency levels. May not foot due to rounding.
      

                             
CyrusOne Inc.

NRSF Under Development

As of September 30, 2013

(Dollars in millions)

(Unaudited)
                                  
                                  NRSF Under Development^(a)
                                  Under Development                                                     Under Development Costs^(b)
                 Metropolitan     Colocation                 Supporting                                    Actual     Estimated
Facilities                      Space        Office                     Powered     Total        to       Costs to     Total
                 Area                            & Other     Infrastructure     Shell^(c)
                                  (CSF)                                                                    Date       Completion
Westway Park
Blvd             Houston          —              8,000       —                  —             8,000        $ —        $   1          $  1
(Houston
West 2)
W Frankford
Road             Dallas           60,000        —          28,000            —            88,000      12        7             19
(Carrollton)
Total                             60,000        8,000      28,000            —            96,000      $ 12      $   8         $  20
                                                                                                                                        

(a)  Represents NRSF at a facility for which substantial activities have
      commenced to prepare the space for its intended use.
      Represents management’s estimate of the total costs required to complete
(b)   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 September 30, 2013

(Unaudited)
                                                                           
                                                            Percentage     Weighted
                                                            of             Average
     Principal Customer   Number of     Annualized          Portfolio      Remaining
     Industry             Locations     Rent^(b)            Annualized     Lease Term
                                                            Rent^(c)       in
                                                                           Months^(d)
1    Telecommunications   7             $ 23,710,914        9.2    %       31.0
     (CBI)^(e)
2    Energy               2             19,032,482          7.4    %       2.8
3    Energy               4             14,942,972          5.8    %       4.4
     Research and
4    Consulting           3             13,208,719          5.1    %       0.3
     Services
5    Telecommunication    1             10,056,455          3.9    %       50.0
     Services
6    Information          3             7,440,740           2.9    %       43.1
     Technology
7    Financials           1             6,000,225           2.3    %       80.0
8    Telecommunication    1             5,013,892           1.9    %       67.0
     Services
9    Information          1             4,845,316           1.9    %       27.0
     Technology
10   Consumer Staples     1             4,743,436           1.8    %       102.9
11   Energy               2             4,731,000           1.8    %       34.0
12   Information          3             4,625,641           1.8    %       55.7
     Technology
13   Energy               1             4,101,396           1.6    %       13.7
14   Information          1             4,006,477           1.6    %       89.0
     Technology
15   Energy               3             3,870,111           1.5    %       7.1
16   Information          2             3,831,921           1.5    %       89.0
     Technology
17   Energy               1             3,612,639           1.4    %       32.3
18   Consumer             1             3,303,607           1.3    %       3.2
     Discretionary
19   Information          2             3,283,480           1.3    %       36.1
     Technology
20   Energy               1             3,236,416          1.3    %       13.6
                                        $ 147,597,839      57.3   %       31.2
                                                                           

(a)  Includes affiliates.
      Represents monthly contractual rent (defined as cash rent including
      customer reimbursements for metered power) under existing customer
      leases as of September 30, 2013, multiplied by 12. For the month of
      September 2013, our total portfolio annualized rent was $257.4 million,
      and customer reimbursements were $22.9 million annualized, consisting 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.
(b)   From October 1, 2011 through September 30, 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 for
      our total portfolio as of September 30, 2013 was $274,859,776. Our
      annualized effective rent was greater than our annualized rent as of
      September 30, 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.
      Represents the customer’s total annualized rent divided by the total
(c)   annualized rent in the portfolio as of September 30, 2013, which was
      approximately $257.4 million.
      Weighted average based on customer’s percentage of total annualized rent
      expiring and is as of September 30, 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
(d)   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.
      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
(e)   be assigned to us, but the consents for such assignments have not yet
      been obtained. Excluding these customers, Cincinnati Bell Inc. and
      subsidiaries represented 3.6% of our annualized rent as of September 30,
      2013.
      

                                                                                      
CyrusOne Inc.

Lease Distribution

As of September 30, 2013

(Unaudited)
                                                                                                  
                                                               Percentage
                                Percentage     Total           of                                 Percentage
NRSF Under    Number of         of                                            Annualized          of
Lease^(a)                                      Leased          Portfolio
              Customers^(b)     All                                           Rent^(d)            Annualized
                                Customers      NRSF^(c)        Leased                             Rent
                                                               NRSF
0-999         447               79     %       81,819          5      %       $ 33,655,624        13     %
1,000-2,499   39                7      %       66,987          4      %       15,444,873          6      %
2,500-4,999   27                5      %       102,141         7      %       20,661,725          8      %
5,000-9,999   23                4      %       162,750         11     %       51,439,853          20     %
10,000+       31               5      %       1,099,879      73     %       136,187,695        53     %
Total         567              100    %       1,513,576      100    %       $ 257,389,770      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.
      Represents the total square feet at a facility under lease and that has
      commenced billing, excluding space held for development or space used by
(c)   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.
      Represents monthly contractual rent (defined as cash rent including
      customer reimbursements for metered power) under existing customer
      leases as of September 30, 2013, multiplied by 12. For the month of
      September 2013, customer reimbursements were $22.9 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
(d)   power. From October 1, 2011 through September 30, 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 September 30, 2013 was $274,859,776. Our
      annualized effective rent was greater than our annualized rent as of
      September 30, 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 September 30, 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                         384,393       20    %
Month-to-Month   216              36,552        2     %        $ 8,979,903      3     %        $  8,979,903       3     %
Remainder of     289              217,844       11    %        57,815,166       22    %        57,886,248         20    %
2013
2014             612              228,146       12    %        45,403,980       18    %        45,455,010         16    %
2015             487              252,150       13    %        38,832,786       15    %        40,535,270         15    %
2016             338              84,138        5     %        31,379,039       12    %        36,536,531         13    %
2017             112              228,329       12    %        27,250,450       11    %        30,982,627         11    %
2018             86               114,447       6     %        18,914,460       7     %        22,343,777         8     %
2019             9                96,271        5     %        5,432,091        2     %        5,849,905          2     %
2020             20               115,930       6     %        8,150,441        3     %        10,384,144         4     %
2021             9                30,754        2     %        4,133,641        2     %        4,577,392          2     %
                                  40,087
2022             6                *Story
                                  too
                                  large*

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