Record Leasing of 205,000 Colocation Square Feet Totaling $44 Million in Annualized GAAP Revenue
Year-over-Year Adjusted EBITDA Growth of 36% and Normalized FFO per Share Growth of 27%

DALLAS--(BUSINESS WIRE)-- 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 fourth quarter and full year 2015 earnings.

Highlights

• Fourth quarter and full year Adjusted EBITDA of $60.5 million and $211.7 million increased 36% and 25%, respectively, over fourth quarter and full year 2014
• Fourth quarter and full year Normalized FFO per share of $0.61 and $2.17 increased 27% and 25%, respectively, over fourth quarter and full year 2014
• Fourth quarter and full year revenue of $113.3 million and $399.3 million increased 30% and 21%, respectively, over fourth quarter and full year 2014
• Leased a record 205,000 colocation square feet and 30 megawatts (MW) in the fourth quarter totaling $44 million in annualized GAAP revenue, including the pre-leasing of the next four phases of our Northern Virginia campus

• Given anticipated commencement phasing, an estimated $19 - $24 million is expected to be recognized in 2016, with the full $44 million recognized in 2017

• Leased a record 342,000 colocation square feet and 49 MW in 2015, with a total contract value of nearly $600 million
• Announcing a 21% increase in the quarterly dividend for the first quarter of 2016 to $0.38 per share, up from $0.315 per share in 2015
• Added four Fortune 1000 companies as new customers in the fourth quarter, increasing the total number of Fortune 1000 customers to 173 as of the end of the quarter
• Subsequent to the end of the quarter, pre-leased the next two phases of our San Antonio campus

"This was another outstanding year for CyrusOne, with high growth rates across all key metrics, the completion and integration of our first acquisition as a public company, the addition of more than 270 new logos, and a very successful start in Northern Virginia," said Gary Wojtaszek president and chief executive officer of CyrusOne. "Ending the year with the biggest leasing quarter in the company's history highlights the attractiveness of our platform and positions us well for 2016 and beyond."

Fourth Quarter 2015 Financial Results

Normalized Funds From Operations (Normalized FFO)³ was $44.2 million for the fourth quarter, compared to $31.2 million in the same period in 2014, an increase of 42%. Normalized FFO per diluted common share or common share equivalent⁴ was $0.61 in the fourth quarter of 2015, an increase of 27%. Adjusted Funds From Operations (AFFO)⁵ was $46.3 million for the fourth quarter, compared to $29.8 million in the same period in 2014, an increase of 55%.

Revenue was $113.3 million for the fourth quarter, compared to $86.9 million for the same period in 2014, an increase of 30%. The increase in revenue was driven by a 24% increase in leased colocation square feet and additional interconnection services. Net operating income (NOI)¹ was $71.9 million for the fourth quarter, compared to $54.9 million in the same period in 2014, an increase of 31%. Adjusted EBITDA² was $60.5 million for the fourth quarter, compared to $44.6 million in the same period in 2014, an increase of 36%. The Adjusted EBITDA margin of 53.4% in the fourth quarter increased from 51.3% in the same period in 2014.

Full Year 2015 Financial Results

Normalized FFO and Normalized FFO per diluted common share or common share equivalent⁴ for the full year of $150.7 million and $2.17 increased 33% and 25%, respectively, compared to full year 2014. AFFO of $160.6 million increased 44% compared to full year 2014.

Revenue for the full year was $399.3 million, compared to $330.9 million for full year 2014, an increase of 21%. NOI and Adjusted EBITDA of $250.6 million and $211.7 million were up 21% and 25%, respectively, compared to full year 2014.

Leasing Activity

CyrusOne leased approximately 30.0 MW of power, or 205,000 colocation square feet (CSF), in the fourth quarter. Leases signed in the fourth quarter represent approximately $3.6 million in monthly recurring rent inclusive of the monthly impact of installation charges, or approximately $44 million in annualized contracted GAAP revenue⁶ excluding estimates for pass-through power. The Company added four new Fortune 1000⁷ customers in the fourth quarter, bringing the total to 173 customers in the Fortune 1000 and 941 customers in total as of December 31, 2015. The weighted average lease term of the new leases based on square footage is 107 months. Recurring rent churn⁸ for the fourth quarter was a record low 0.4%, compared to 1.7% for the same period in 2014. The Company signed leases with a total contract value of nearly $600 million in 2015.

Portfolio Utilization and Development

As of December 31, 2015, CyrusOne had approximately 1,574,000 CSF across 32 data centers, an increase of approximately 349,000, or 28%, from December 31, 2014. CSF utilization⁹ as of the end of the fourth quarter was 86%. In the fourth quarter, the Company commissioned the first data hall at its new Austin 3 facility, adding a total of approximately 62,000 CSF. CyrusOne has development projects underway in Dallas, San Antonio, Houston, Phoenix and Northern Virginia that will add approximately 355,000 CSF.

Balance Sheet and Liquidity

As of December 31, 2015, the Company had $996.5 million of long term debt, cash and cash equivalents of $14.3 million, and $407.9 million available under its unsecured revolving credit facility. Net debt¹⁰ was $994.4 million as of December 31, 2015, approximately 27% of the Company's total enterprise value. Available liquidity¹¹ was $422.2 million as of December 31, 2015.

Dividend and Distribution

On November 5, 2015, the Company announced a dividend and distribution of $0.315 per share of common stock and common stock equivalent for the fourth quarter of 2015. The dividend and distribution was paid on January 8, 2016, to stockholders of record at the close of business on December 24, 2015.

Additionally, today the Company is announcing a dividend of $0.38 per share of common stock for the first quarter of 2016. The dividend will be paid on April 15, 2016, to stockholders of record at the close of business on March 25, 2016.

Guidance

CyrusOne is issuing guidance for full year 2016. The annual guidance provided below represents forward-looking statements, 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.

Category			2015 Results			2016 Guidance
Total Revenue			$399 million			$485 - 500 million
Base Revenue			$355 million			$438 - 448 million
Metered Power Reimbursements			$44 million			$47 - 52 million
Adjusted EBITDA			$212 million			$258 - 268 million
Normalized FFO per diluted common share or common share equivalent*			$2.17			$2.45 - 2.55
Capital Expenditures			$235 million			$320 - 345 million
Development			$232 million			$316 - 337 million
Recurring			$3 million			$4 - 8 million
* Guidance assumes weighted average diluted common shares for 2016 of approximately 73 million.

Conference Call Details

CyrusOne will host a conference call on February 24, 2016, at 11:00 AM Eastern Time (10:00 AM Central Time) to discuss its results for the fourth quarter of 2015. A live webcast of the conference call will be available under the "Investor Relations" tab in the "Events and Presentations" section of the Company's website at http://investor.cyrusone.com/events.cfm. The U.S. conference call dial-in number is 1-844-492-3731, and the international dial-in number is 1-412-542-4121. A replay will be available one hour after the conclusion of the earnings call on February 24, 2016, through March 6, 2016. 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. The replay access code is 10079528.

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 10-K report, Form 10-Q reports, 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 EBITDA, Net Operating Income, Adjusted 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 that accompany this release and are available in the Investor Relations section of www.cyrusone.com.

Management uses FFO, Normalized FFO, Adjusted EBITDA, NOI, Adjusted 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, NOI, Adjusted NOI, AFFO and Adjusted EBITDA should be considered only as supplements to net income as measures of our performance. FFO, Normalized FFO, NOI, Adjusted NOI, AFFO and Adjusted EBITDA should not be used as measures of liquidity or 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 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. 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. From time to time, there may be non-recurring costs in property operating expenses, and as a result the Company may present Adjusted Net Operating Income (Adjusted NOI) to exclude the impacts of those costs.

²Adjusted EBITDA is defined as net income (loss) 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 and integration costs, restructuring costs, severance costs, loss on extinguishment of debt, asset impairments and (gain) loss on disposals, lease exit costs, and other special items. 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.

³Normalized Funds From Operations (Normalized FFO) is defined as Funds From Operations (FFO) plus transaction costs, including acquisition pursuit and integration costs, transaction-related compensation, (gain) loss on extinguishment of debt, restructuring costs, severance and management transition costs, amortization of customer relationship intangibles, lease exit costs, legal claim costs, and other special items. FFO is 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, 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. The Company believes its Normalized FFO calculation provides a comparable measure to that used by others in the industry.

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 72,597,621 for the fourth quarter of 2015.

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.

⁶Annualized GAAP revenue is equal to monthly recurring rent, defined as average monthly contractual rent during the term of the lease plus the monthly impact of installation charges, multiplied by 12. It can be shown both inclusive and exclusive of the Company's estimate of customer reimbursements for metered power.

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

⁸Recurring rent churn is calculated as any reduction in recurring rent due to customer terminations, service reductions or net pricing decreases as a percentage of rent at the beginning of the period, excluding any impact from metered power reimbursements or other usage-based billing.

⁹Utilization 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.

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 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 940 customers, including nine of the Fortune 20 and 173 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 more than 30 data centers worldwide.

Company Profile

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 940 customers, including nine of the Fortune 20 and 173 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 more than 30 data centers worldwide.

• Best-in-Class Sales Force
• Flexible Solutions that Scale as Customers Grow
• Massively Modular® Engineering with Data Hall Builds in 12-16 Weeks
• Focus on Operational Excellence and Superior Customer Service
• Proven Leading-Edge Technology Delivering Power Densities up to 900 Watts per Square Foot
• National IX Replicates Enterprise Data Center Architecture

Corporate Headquarters							Senior Management
1649 West Frankford Road							Gary Wojtaszek, President and CEO
Carrollton, Texas 75007							Greg Andrews, Chief Financial Officer
Phone: (972) 350-0060							Kevin Timmons, Chief Technology Officer
Website: www.cyrusone.com							Tesh Durvasula, Chief Commercial Officer
							Scott Brueggeman, Chief Marketing Officer
							Robert Jackson, EVP General Counsel & Secretary
							John Hatem, EVP Design, Construction & Operations
							Amitabh Rai, Senior VP & Chief Accounting Officer

Analyst Coverage

Firm					Analyst					Phone Number
Bank of America Merrill Lynch					Michael J. Funk					(646) 855-5664
Barclays					Amir Rozwadowski					(212) 526-4043
Burke & Quick Partners					Frederick W. Moran					(561) 504-0936
Citi					Emmanuel Korchman					(212) 816-1382
Cowen and Company					Colby Synesael					(646) 562-1355
Deutsche Bank					Vin Chao					(212) 250-6799
Evercore ISI					Jonathan Schildkraut					(212) 497-0864
Gabelli & Company					Sergey Dluzhevskiy					(914) 921-8355
Jefferies					Jonathan Petersen					(212) 284-1705
J.P. Morgan					Richard Choe					(212) 622-6708
KeyBanc Capital Markets					Jordan Sadler					(917) 368-2280
					Austin Wurschmidt					(917) 368-2311
Morgan Stanley					Simon Flannery					(212) 761-6432
RBC Capital Markets					Jonathan Atkin					(415) 633-8589
Raymond James					Frank G. Louthan IV					(404) 442-5867
Stephens					Barry McCarver					(501) 377-8131
Stifel					Matthew S. Heinz, CFA					(443) 224-1382
SunTrust Robinson Humphrey					Inder M. Singh					(212) 319-3623
UBS					Ross T. Nussbaum					(212) 713-2484
					John C. Hodulik, CFA					(212) 713-4226

CyrusOne Inc. Condensed Consolidated and Combined Statements of Operations (Dollars in millions, except per share amounts) (Unaudited)
			Three Months Ended December 31,															Twelve Months Ended December 31,
											Change															Change
			2015				2014				$				%			2015				2014				$				%
Revenue			$	113.3			$	86.9			$	26.4			30	%		$	399.3			$	330.9			$	68.4			21	%
Costs and expenses:
Property operating expenses			41.4				32.0				9.4				29	%		148.7				124.5				24.2				19	%
Sales and marketing			3.2				3.1				0.1				3	%		12.1				12.8				(0.7		)		(5	)%
General and administrative			15.1				9.9				5.2				53	%		46.6				34.6				12.0				35	%
Depreciation and amortization			39.9				30.6				9.3				30	%		141.5				118.0				23.5				20	%
Transaction and acquisition integration costs			2.6				0.1				2.5				n/m			14.1				1.0				13.1				n/m
Asset impairments and loss on disposal			-				-				-				n/m			13.5				-				13.5				n/m
Total costs and expenses			102.2				75.7				26.5				35	%		376.5				290.9				85.6				29	%
Operating income			11.1				11.2				(0.1		)		(1	)%		22.8				40.0				(17.2		)		(43	)%
Interest expense			12.0				9.1				2.9				32	%		41.2				39.5				1.7				4	%
Loss on extinguishment of debt			-				13.6				(13.6		)		n/m			-				13.6				(13.6		)		n/m
Income (loss) before income taxes			(0.9		)		(11.5		)		10.6				(92	)%		(18.4		)		(13.1		)		(5.3		)		40	%
Income tax expense			(0.3		)		(0.3		)		-				n/m			(1.8		)		(1.4		)		(0.4		)		29	%
Net income (loss)			(1.2		)		(11.8		)		10.6				(90	)%		(20.2		)		(14.5		)		(5.7		)		39	%
Noncontrolling interest in net income (loss)			(0.2		)		(4.8		)		4.6				(96	)%		(4.8		)		(6.7		)		1.9				(28	)%
Net income (loss) attributed to common stockholders			$	(1.0	)		$	(7.0	)		$	6.0			(86	)%		$	(15.4	)		$	(7.8	)		$	(7.6	)		97	%
Loss per common share - basic and diluted			$	(0.02	)		$	(0.19	)									$	(0.30	)		$	(0.30	)

CyrusOne Inc. Condensed Consolidated Balance Sheets (Dollars in millions) (Unaudited)
			December 31,				December 31,				Change
			2015				2014				$				%
Assets
Investment in real estate:
Land			$	93.0			$	89.7			$	3.3			4	%
Buildings and improvements			905.3				812.6				92.7				11	%
Equipment			598.2				349.1				249.1				71	%
Construction in progress			231.1				127.0				104.1				82	%
Subtotal			1,827.6				1,378.4				449.2				33	%
Accumulated depreciation			(435.6		)		(327.0		)		(108.6		)		33	%
Net investment in real estate			1,392.0				1,051.4				340.6				32	%
Cash and cash equivalents			14.3				36.5				(22.2		)		(61	)%
Rent and other receivables			76.1				60.9				15.2				25	%
Restricted cash			1.5				-				1.5				n/m
Goodwill			453.4				276.2				177.2				64	%
Intangible assets, net			170.3				68.9				101.4				147	%
Due from affiliates			-				0.8				(0.8		)		(100	)%
Other assets			88.0				76.3				11.7				15	%
Total assets			$	2,195.6			$	1,571.0			$	624.6			40	%
Liabilities and Equity
Accounts payable and accrued expenses			$	136.6			$	69.9			$	66.7			95	%
Deferred revenue			78.7				65.7				13.0				20	%
Due to affiliates			-				7.3				(7.3		)		(100	)%
Capital lease obligations			12.2				13.4				(1.2		)		(9	)%
Long-term debt			996.5				644.3				352.2				55	%
Lease financing arrangements			150.0				53.4				96.6				n/m
Total liabilities			1,374.0				854.0				520.0				61	%
Equity:
Preferred stock, $.01 par value, 100,000,000 authorized; no shares issued or outstanding			-				-				-				n/m
Common stock, $.01 par value, 500,000,000 shares authorized and 72,556,334 and 38,651,517 shares issued and outstanding at December 31, 2015 and December 31, 2014, respectively			0.7				0.4				0.3				75	%
Paid in capital			967.2				516.5				450.7				87	%
Accumulated deficit			(145.9		)		(55.9		)		(90.0		)		n/m
Other Comprehensive Income			(0.4		)		(0.2		)		(0.2		)		100.0	%
Total shareholders' equity			821.6				460.8				360.8				78	%
Noncontrolling interest			-				256.2				(256.2		)		(100	)%
Total equity			821.6				717.0				104.6				15	%
Total liabilities and shareholders' equity			$	2,195.6			$	1,571.0			$	624.6			40	%

CyrusOne Inc. Condensed Consolidated and Combined Statements of Operations (Dollars in millions, except per share amounts) (Unaudited)
For the three months ended:			December 31,				September 30,				June 30,				March 31,				December 31,
			2015				2015				2015				2015				2014
Revenue:
Base Revenue			$	101.2			$	98.7			$	78.8			$	75.9			$	75.4
Metered Power Reimbursements			12.1				12.5				10.3				9.8				11.5
Total Revenue			113.3				111.2				89.1				85.7				86.9
Costs and expenses:
Property operating expenses			41.4				42.2				32.8				32.3				32.0
Sales and marketing			3.2				3.2				2.8				2.9				3.1
General and administrative			15.1				12.5				9.9				9.1				9.9
Depreciation and amortization			39.9				39.1				31.4				31.1				30.6
Transaction and acquisition integration costs			2.6				1.8				9.6				0.1				0.1
Asset impairments and loss on disposal of assets			-				4.9				-				8.6				-
Total costs and expenses			102.2				103.7				86.5				84.1				75.7
Operating income			11.1				7.5				2.6				1.6				11.2
Interest expense			12.0				12.1				8.7				8.4				9.1
Loss on extinguishment of debt			-				-				-				-				13.6
Income (loss) before income taxes			(0.9		)		(4.6		)		(6.1		)		(6.8		)		(11.5		)
Income tax expense			(0.3		)		(0.7		)		(0.4		)		(0.4		)		(0.3		)
Net income (loss) from continuing operations			(1.2		)		(5.3		)		(6.5		)		(7.2		)		(11.8		)
Noncontrolling interest in net income (loss)			(0.2		)		(0.7		)		(1.0		)		(2.9		)		(4.8		)
Net income (loss) attributed to common stockholders			$	(1.0	)		$	(4.6	)		$	(5.5	)		$	(4.3	)		$	(7.0	)
Loss per common share - basic and diluted			$	(0.02	)		$	(0.08	)		$	(0.11	)		$	(0.12	)		$	(0.19	)

CyrusOne Inc. Condensed Consolidated Balance Sheets (Dollars in millions) (Unaudited)
			December 31, 2015				September 30, 2015				June 30, 2015				March 31, 2015				December 31, 2014
Assets
Investment in real estate:
Land			$	93.0			$	93.0			$	93.0			$	93.0			$	89.7
Buildings and improvements			905.3				897.7				824.2				820.8				812.6
Equipment			598.2				555.6				423.4				382.7				349.1
Construction in progress			231.1				187.1				125.8				121.0				127.0
Subtotal			1,827.6				1,733.4				1,466.4				1,417.5				1,378.4
Accumulated depreciation			(435.6		)		(404.4		)		(375.4		)		(350.1		)		(327.0		)
Net investment in real estate			1,392.0				1,329.0				1,091.0				1,067.4				1,051.4
Cash and cash equivalents			14.3				39.8				413.5				26.0				36.5
Rent and other receivables			76.1				74.5				56.3				53.9				60.9
Restricted cash			1.5				7.1				-				-				-
Goodwill			453.4				453.4				276.2				276.2				276.2
Intangible assets, net			170.3				175.7				61.6				65.3				68.9
Due from affiliates			-				1.3				1.7				1.4				0.8
Other assets			88.0				82.2				74.2				71.6				76.3
Total assets			$	2,195.6			$	2,163.0			$	1,974.5			$	1,561.8			$	1,571.0
Liabilities and Equity
Accounts payable and accrued expenses			$	136.6			$	116.3			$	90.0			$	67.1			$	69.9
Deferred revenue			78.7				74.1				66.5				65.5				65.7
Due to affiliates			-				2.7				174.9				9.1				7.3
Capital lease obligations			12.2				12.8				12.1				12.6				13.4
Long-term debt			996.5				964.1				712.6				665.0				644.3
Lease financing arrangements			150.0				151.9				52.8				51.3				53.4
Total liabilities			1,374.0				1,321.9				1,108.9				870.6				854.0
Equity:
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 72,556,334 and 38,651,517 shares issued and outstanding at December 31, 2015 and December 31, 2014, respectively			0.7				0.6				0.6				0.4				0.4
Additional paid in capital			967.2				912.3				908.3				518.9				516.5
Accumulated deficit			(145.9		)		(124.3		)		(98.9		)		(72.5		)		(55.9		)
Accumulated other comprehensive loss			(0.4		)		(0.7		)		(0.3		)		(0.6		)		(0.2		)
Total shareholders' equity			821.6				787.9				809.7				446.2				460.8
Noncontrolling interests			-				53.2				55.9				245.0				256.2
Total equity			821.6				841.1				$	865.6			$	691.2			717.0
Total liabilities and shareholders' equity			$	2,195.6			$	2,163.0			$	1,974.5			$	1,561.8			$	1,571.0

CyrusOne Inc. Condensed Consolidated Statement of Cash Flow (Dollars in millions) (Unaudited)
			Three Months Ended December 31, 2015				Three Months Ended December 31, 2014				Year Ended December 31, 2015				Year Ended December 31, 2014
Cash flows from operating activities:
Net loss			$	(1.2	)		$	(11.8	)		$	(20.2	)		$	(14.5	)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization			39.9				30.6				141.5				118.0
Provision for bad debt write off			(0.3		)		(0.1		)		-				0.8
Asset impairments and loss on disposal			-				-				13.5				-
Loss on extinguishment of debt			-				13.6				-				13.6
Non-cash interest expense			1.1				0.7				3.4				3.4
Stock-based compensation expense			3.9				2.7				14.4				10.3
Changes in operating assets and liabilities:
Rent receivables and other assets			(7.0		)		(5.7		)		(23.9		)		(37.0		)
Accounts payable and accrued expenses			(2.9		)		(7.2		)		7.0				6.9
Deferred revenues			4.6				(0.4		)		5.4				9.8
Due to affiliates			0.6				0.4				(0.9		)		(0.2		)
Net cash provided by operating activities			38.7				22.8				140.2				111.1
Cash flows from investing activities:
Capital expenditures - acquisitions of real estate			-				-				(17.3		)		-
Capital expenditures - other development			(76.3		)		(89.3		)		(217.2		)		(284.2		)
Business acquisition, net of cash acquired			-				-				(398.4		)		-
Changes in restricted cash			7.3				-				7.3				-
Net cash used in investing activities			(69.0		)		(89.3		)		(625.6		)		(284.2		)
Cash flows from financing activities:
Issuance of common stock			0.2				0.1				799.5				356.0
Stock issuance costs			-				-				(0.8		)		(1.3		)
Acquisition of operating partnership units			-				-				(596.4		)		(355.9		)
Dividends paid			(22.5		)		(13.5		)		(80.8		)		(50.9		)
Borrowings from credit facility			40.0				285.0				260.0				315.0
Payments on credit facility			(10.0		)		(30.0		)		(10.0		)		(30.0		)
Payments on senior notes			-				(150.2		)		-				(150.2		)
Proceeds from issuance of debt			-				-				103.8				-
Payments on capital lease obligations			(0.9		)		0.1				(2.6		)		(3.0		)
Payments on lease financing arrangements			(1.2		)		(0.9		)		(3.3		)		(0.9		)
Debt issuance costs			-				(5.2		)		(5.4		)		(5.2		)
Payment of debt extinguishment costs			-				(12.8		)		-				(12.8		)
Tax payments upon exercise of equity awards			(0.8		)		-				(0.8		)		-
Net cash provided by financing activities			4.8				72.6				463.2				60.8
Net (decrease) increase in cash and cash equivalents			(25.5		)		6.1				(22.2		)		(112.3		)
Cash and cash equivalents at beginning of period			39.8				30.4				36.5				148.8
Cash and cash equivalents at end of period			$	14.3			$	36.5			$	14.3			$	36.5
			Three Months Ended December 31, 2015				Three Months Ended December 31, 2014				December 31, 2015				December 31, 2014
Supplemental disclosures
Cash paid for interest, net of amount capitalized			$	22.3			$	18.9			$	43.7			$	41.3
Cash paid for income taxes			0.9				-				3.4				0.4
Capitalized interest			1.9				1.6				6.1				4.6
Noncash investing and financing transactions:
Acquisition of property in accounts payable and other liabilities											59.2				26.8
Dividends payable											23.6				14.3

CyrusOne Inc. Net Operating Income and Reconciliation of Net Income (Loss) to Adjusted EBITDA (Dollars in millions) (Unaudited)
			Year Ended															Three Months Ended
			December 31,								Change							December 31,				September 30,				June 30,				March 31,				December 31,
			2015				2014				$				%			2015				2015				2015				2015				2014
Net Operating Income
Revenue			$	399.3			$	330.9			$	68.4			21	%		$	113.3			$	111.2			$	89.1			$	85.7			$	86.9
Property operating expenses			148.7				124.5				24.2				19	%		41.4				42.2				32.8				32.3				32.0
Net Operating Income (NOI)			250.6				206.4				44.2				21	%		71.9				69.0				56.3				53.4				54.9
Add Back: Lease exit costs			1.4				-				1.4				n/m			0.3				0.4				-				0.7				-
Adjusted Net Operating Income (Adjusted NOI)			$	252.0			$	206.4			$	45.6			22	%		$	72.2			$	69.4			$	56.3			$	54.1			$	54.9
Adjusted NOI as a % of Revenue			63.1		%		62.4		%									63.7		%		62.4		%		63.2		%		63.1		%		63.2		%
Reconciliation of Net (Loss) Income to Adjusted EBITDA:
Net (loss) income			$	(20.2	)		$	(14.5	)		$	(5.7	)		39	%		(1.2		)		$	(5.3	)		$	(6.5	)		$	(7.2	)		$	(11.8	)
Interest expense			41.2				39.5				1.7				4	%		12.0				12.1				8.7				8.4				9.1
Income tax expense			1.8				1.4				0.4				29	%		0.3				0.7				0.4				0.4				0.3
Depreciation and amortization			141.5				118.0				23.5				20	%		39.9				39.1				31.4				31.1				30.6
Transaction and acquisition integration costs			14.1				1.0				13.1				n/m			2.6				1.8				9.6				0.1				0.1
Legal claim costs			0.4				-				0.4				n/m			0.1				-				0.3				-				-
Stock-based compensation			12.0				10.3				1.7				17	%		2.4				3.4				3.2				3.0				2.7
Severance and management transition costs			6.0				-				6.0				n/m			4.1				1.9				-				-				-
Loss on extinguishment of debt			-				13.6				(13.6		)		n/m			-				-				-				-				13.6
Lease exit costs			1.4				-				1.4				n/m			0.3				0.4				-				0.7				-
Asset impairments and loss on disposals			13.5				-				13.5				n/m			-				4.9				-				8.6				-
Adjusted EBITDA			$	211.7			$	169.3			$	42.4			25	%		$	60.5			$	59.0			$	47.1			$	45.1			$	44.6
Adjusted EBITDA as a % of Revenue			53.0		%		51.2		%									53.4		%		53.1		%		52.9		%		52.6		%		51.3		%

CyrusOne Inc. Reconciliation of Net Income (Loss) to FFO, Normalized FFO, and AFFO (Dollars in millions) (Unaudited)
			Year Ended															Three Months Ended
			December 31,								Change							December 31, 2015				September 30, 2015				June 30, 2015				March 31, 2015				December 31, 2014
			2015				2014				$				%
Reconciliation of Net (Loss) Income to FFO and Normalized FFO:
Net (loss) income			$	(20.2	)		$	(14.5	)		$	(5.7	)		39	%		$	(1.2	)		$	(5.3	)		$	(6.5	)		$	(7.2	)		$	(11.8	)
Real estate depreciation and amortization			117.0				95.9				21.1				22	%		32.8				31.9				26.3				26.0				25.1
Asset impairments and loss on disposal			13.5								13.5				n/m			-				4.9				-				8.6				-
Funds from Operations (FFO)			$	110.3			$	81.4			28.9				36	%		$	31.6			$	31.5			$	19.8			$	27.4			$	13.3
Loss on extinguishment of debt			-				13.6				(13.6		)		n/m			-				-				-				-				13.6
Amortization of customer relationship intangibles			18.5				16.9				1.6				9	%		5.6				5.6				3.7				3.6				4.2
Transaction and acquisition integration costs			14.1				1.0				13.1				n/m			2.5				1.9				9.6				0.1				0.1
Severance and management transition costs			6.0				-				6.0				n/m			4.1				1.9				-				-				-
Legal claim costs			0.4				-				0.4				n/m			0.1				-				0.3				-				-
Lease exit costs			1.4				-				1.4				n/m			0.3				0.3				-				0.8				-
Normalized Funds from Operations (Normalized FFO)			$	150.7			$	112.9			$	37.8			33	%		$	44.2			$	41.2			$	33.4			$	31.9			$	31.2
Normalized FFO per diluted common share or common share equivalent			$	2.17			$	1.73			$	0.44			25	%		$	0.61			$	0.57			$	0.50			$	0.49			$	0.48
Weighted average diluted common share and common share equivalent outstanding			69.3				65.3				4.0				6	%		72.6				72.6				66.0				65.5				65.3
Reconciliation of Normalized FFO to AFFO:
Normalized FFO			$	150.7			$	112.9			37.8				33	%		$	44.2			$	41.2			$	33.4			$	31.9			$	31.2
Amortization of deferred financing costs			3.4				3.4				-				n/m			1.1				0.9				0.7				0.7				0.7
Stock-based compensation			12.0				10.3				1.7				17	%		2.4				3.5				3.1				3.0				2.7
Non-real estate depreciation and amortization			6.0				5.2				0.8				15	%		1.5				1.6				1.4				1.5				1.4
Deferred revenue and straight line rent adjustments			(2.2		)		(10.5		)		8.3				n/m			1.1				(1.6		)		(0.3		)		(1.4		)		(2.3		)
Leasing commissions			(6.9		)		(5.8		)		(1.1		)		n/m			(3.3		)		(1.6		)		(1.5		)		(0.5		)		(2.9		)
Recurring capital expenditures			(2.4		)		(3.8		)		1.4				n/m			(0.7		)		(1.2		)		(0.3		)		(0.2		)		(1.0		)
Adjusted Funds from Operations (AFFO)			$	160.6			$	111.7			$	48.9			44	%		$	46.3			$	42.8			$	36.5			$	35.0			$	29.8
AFFO per diluted common share or common share equivalent			$	2.32			$	1.71			$	0.61			36	%		$	0.64			$	0.59			$	0.54			$	0.53			$	0.46
Weighted average diluted common share and common share equivalent outstanding			69.3				65.3				4.0				6	%		72.6				72.6				66.0				65.5				65.3

CyrusOne Inc.

Market Capitalization Summary, Reconciliation of Net Debt, and Debt Schedule

(Unaudited)

Market Capitalization
(dollars in millions)		Shares or Equivalents Outstanding			Market Price as of December 31, 2015				Market Value Equivalents (in millions)
Common shares		72,556,334			$	37.45			$	2,717.2
Net debt									994.4
Total enterprise value (TEV)									$	3,711.6

Reconciliation of Net Debt
(dollars in millions)		December 31,				September 30,
		2015				2015
Long-term debt		$	996.5			$	964.1
Capital lease obligations		12.2				12.8
Less:
Cash and cash equivalents		(14.3		)		(39.8		)
Net debt		$	994.4			$	937.1

Debt Schedule
(dollars in millions)
Long-term debt:		Amount			Interest Rate			Maturity Date
6.375% senior notes due 2022, including bond premium		477.6			6.38	%		November 2022
Revolving credit facility		235.0			2.08	%		October 2019(1)
Term loan		300.0			2.04	%		October 2019
Total senior notes and bank credit facilities		1,012.6			4.07	%
Deferred financing costs		(17.6	)
Notes payable		1.5
Total long-term debt		996.5
Weighted average term of debt:		5.2			years
(1) Assuming exercise of one-year extension option.

Colocation Square Footage (CSF) and Utilization (Unaudited)
			As of December 31, 2015						As of December 31, 2014
Market			Colocation Space (CSF)(a)			CSF Utilized(b)			Colocation Space (CSF)(a)			CSF Utilized(b)
Cincinnati			419,589			91	%		420,223			90	%
Dallas			350,946			89	%		294,969			86	%
Houston			255,094			88	%		255,094			85	%
Phoenix			149,620			100	%		114,026			100	%
Austin			121,833			51	%		59,995			87	%
New York Metro			121,434			87	%		-			-	%
Northern Virginia			74,653			73	%		-			-	%
San Antonio			43,843			100	%		43,843			100	%
Chicago			23,298			54	%		23,298			58	%
International			13,200			80	%		13,200			80	%
Total Footprint			1,573,510			86	%		1,224,648			88	%

(a)		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.
(b)		Utilization is calculated by dividing CSF under signed leases for colocation space (whether or not the lease has commenced billing) by total CSF.

CyrusOne Inc. 2016 Guidance (Unaudited)
Category			2015 Results			2016 Guidance
Total Revenue			$399 million			$485 - 500 million
Base Revenue			$355 million			$438 - 448 million
Metered Power Reimbursements			$44 million			$47 - 52 million
Adjusted EBITDA			$212 million			$258 - 268 million
Normalized FFO per diluted common share or common share equivalent*			$2.17			$2.45 - 2.55
Capital Expenditures			$235 million			$320 - 345 million
Development			$232 million			$316 - 337 million
Recurring			$3 million			$4 - 8 million
* Assumes weighted average diluted common shares for 2016 of approximately 73 million.

The annual guidance provided above represents forward-looking statements, 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.

CyrusOne Inc. Data Center Portfolio As of December 31, 2015 (Unaudited)
									Operating Net Rentable Square Feet (NRSF)(a)																					Powered Shell Available for Future Development (NRSF)(j)			Available Critical Load Capacity (MW)(k)
Facilities			Metro Area		Annualized Rent(b)				Colocation Space (CSF)(c)			CSF Leased(d)			CSF Utilized (e)			Office & Other(f)			Office & Other Leased(g)			Supporting Infrastructure(h)			Total(i)
Westway Park Blvd., Houston, TX (Houston West 1)			Houston		$	49,228,557			112,133			96	%		96	%		10,563			98	%		37,062			159,758			3,000			28
W. Frankford, Carrollton, TX (Carrollton)			Dallas		39,175,328				226,604			83	%		84	%		33,009			96	%		90,314			349,927			196,000			24
S. State Highway 121 Business Lewisville, TX (Lewisville)*			Dallas		38,111,032				108,687			96	%		100	%		11,374			97	%		59,345			179,406			-			18
West Seventh St., Cincinnati, OH (7th Street)***			Cincinnati		36,512,827				212,030			94	%		94	%		5,744			100	%		171,156			388,930			37,000			13
Madison Road (Totowa)**			New York		28,825,440				51,242			84	%		84	%		22,477			100	%		58,964			132,683			-			6
Myer Conners Rd (Wappingers Falls)**			New York		26,895,181				37,000			97	%		97	%		12,485			95	%		22,087			71,572			-			3
Southwest Fwy., Houston, TX (Galleria)			Houston		26,044,727				63,469			76	%		76	%		23,259			51	%		24,927			111,655			-			14
Kingsview Dr., Lebanon, OH (Lebanon)			Cincinnati		22,626,127				65,303			86	%		89	%		44,886			72	%		52,950			163,139			65,000			14
South Ellis Street Chandler, AZ (Phoenix 1)			Phoenix		20,747,156				77,504			100	%		100	%		34,501			11	%		39,137			151,142			31,000			16
Westover Hills Blvd, San Antonio, TX (San Antonio 1)			San Antonio		20,682,080				43,843			100	%		100	%		5,989			83	%		45,650			95,482			11,000			12
Westway Park Blvd., Houston, TX (Houston West 2)			Houston		18,549,027				79,492			83	%		87	%		3,355			62	%		55,023			137,870			12,000			12
Industrial Rd., Florence, KY (Florence)			Cincinnati		14,770,442				52,698			100	%		100	%		46,848			87	%		40,374			139,920			-			9
Riverbend Drive South (Stamford)**			New York		12,713,173				20,000			92	%		92	%		-			-	%		8,484			28,484			-			2
Metropolis Dr., Austin, TX (Austin 2)			Austin		11,826,167				43,772			98	%		100	%		1,821			100	%		22,433			68,026			-			5
South Ellis Street Chandler, AZ (Phoenix 2)			Phoenix		11,475,572				72,116			100	%		100	%		5,618			38	%		25,516			103,250			4,000			12
Knightsbridge Dr., Hamilton, OH (Hamilton)*			Cincinnati		9,431,835				46,565			79	%		79	%		1,077			100	%		35,336			82,978			-			10
Ridgetop Circle, Sterling, VA (Northern Virginia)			Washington, D.C.		6,654,927				74,653			49	%		73	%		1,901			100	%		52,605			129,159			3,000			12
Parkway Dr., Mason, OH (Mason)			Cincinnati		5,682,831				34,072			100	%		100	%		26,458			98	%		17,193			77,723			-			4
Midway Rd., Carrollton, TX (Midway)**			Dallas		5,622,862				8,390			100	%		100	%		-			-	%		-			8,390			-			1
E. Ben White Blvd., Austin, TX (Austin 1)			Austin		5,418,954				16,223			87	%		87	%		21,476			100	%		7,517			45,216			-			2
Kestral Way (London)**			London		4,661,313				10,000			99	%		99	%		-			-	%		514			10,514			-			1
Norden Place (Norwalk)**			New York		3,405,525				13,192			67	%		67	%		4,085			72	%		40,610			57,887			87,000			2
Marsh Lane, Carrollton, TX (Marsh Ln)**			Dallas		2,409,035				4,245			100	%		100	%		-			-	%		-			4,245			-			1
Springer St., Lombard, IL (Lombard)			Chicago		2,265,284				13,516			71	%		72	%		4,115			100	%		12,230			29,861			29,000			3
Omega Drive (Stamford)**			New York		1,481,005				-			-	%		-	%		18,552			87	%		3,796			22,348			-			-
Bryan St., Dallas, TX (Bryan St)**			Dallas		934,154				3,020			51	%		51	%		-			-	%		-			3,020			-			1
Metropolis Dr., Austin, TX (Austin 3)			Austin		704,297				61,838			2	%		6	%		15,055			-	%		20,629			97,522			67,000			3
Crescent Circle, South Bend, IN (Blackthorn)*			South Bend		541,644				3,432			41	%		41	%		-			-	%		5,125			8,557			11,000			1
McAuley Place, Blue Ash, OH (Blue Ash)*			Cincinnati		522,902				6,193			39	%		39	%		6,950			100	%		2,166			15,309			-			1
Houston, TX (Houston West 3)			Houston		411,504				-			-	%		-	%		8,564			100	%		5,304			13,868			-			-
E. Monroe St., South Bend, IN (Monroe St.)			South Bend		396,366				6,350			22	%		22	%		-			-	%		6,478			12,828			4,000			1
Commerce Road (Totowa)**			New York		296,520				-			-	%		-	%		20,460			30	%		5,540			26,000			-			-
Jurong East (Singapore)**			Singapore		286,586				3,200			19	%		19	%		-			-	%		-			3,200			-			1
Goldcoast Dr., Cincinnati, OH (Goldcoast)			Cincinnati		95,701				2,728			-	%		-	%		5,280			100	%		16,481			24,489			14,000			1
Total					$	429,406,081			1,573,510			84	%		86	%		395,902			74	%		984,946			2,954,358			574,000			227

*		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 December 31, 2015, multiplied by 12. For the month of December 2015, customer reimbursements were $46.1 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 January 1, 2014 through December 31, 2015, customer reimbursements under leases with separately metered power constituted between 10.6% and 14.2% of annualized rent. After giving effect to abatements, free rent and other straight-line adjustments, our annualized effective rent as of December 31, 2015 was $431.1 million. Our annualized effective rent was greater than our annualized rent as of December 31, 2015 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)		Percent leased is determined based on CSF being billed to customers under signed leases as of December 31, 2015 divided by total CSF. Leases signed but not commenced as of December 31, 2015 are not included.
(e)		Utilization is calculated by dividing CSF under signed leases for colocation space (whether or not the lease has commenced billing) by total CSF.
(f)		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.
(g)		Percent leased is determined based on Office & Other space being billed to customers under signed leases as of December 31, 2015 divided by total Office & Other space. Leases signed but not commenced as of December 2015 are not included.
(h)		Represents infrastructure support space, including mechanical, telecommunications and utility rooms, as well as building common areas.
(i)		Represents the NRSF at an operating facility that is currently leased or readily available for lease. This excludes existing vacant space held for development.
(j)		Represents space that is under roof that could be developed in the future for operating NRSF, rounded to the nearest 1,000.
(k)		Critical load capacity represents the aggregate power available for lease and exclusive use by customers expressed in terms of megawatts. The capacity reported is for non-redundant megawatts, as we can develop flexible solutions to our customers at multiple resiliency levels. Does not sum to total due to rounding.

CyrusOne Inc. NRSF Under Development As of December 31, 2015 (Dollars in millions) (Unaudited)
					NRSF Under Development (a)																				Under Development Costs
Facilities			Metropolitan Area		Estimated Completion Date		Colocation Space (CSF)			Office & Other			Supporting Infrastructure			Powered Shell(b)			Total			Critical Load MW Capacity(c)			Actual to Date(d)				Estimated Costs to Completion(e)			Total
W. Frankford (Carrollton)			Dallas		1Q'16		69,000			-			2,000			-			71,000			6.0			$	12			$	15-18		$	27-30
W. Frankford (Carrollton)			Dallas		2Q'16		4,000			-			1,000			-			5,000			2.0			-					6-7			6-7
S. State Highway 121 Business Lewisville, TX (Lewisville)			Dallas		2Q'16		4,000			-			-			-			4,000			3.0			-					12-15			12-15
Westover Hills Blvd. (San Antonio 2)			San Antonio		3Q'16		30,000			20,000			25,000			49,000			124,000			3.0			32					8-11			40-43
Westway Park Blvd. (Houston West 3)			Houston		1Q'16		53,000			-			32,000			213,000			298,000			6.0			55					1-2			56-57
Phoenix 3			Phoenix		1Q'16		36,000			5,000			24,000			40,000			105,000			2.0			10					6-8			16-18
Ridgetop Circle, Sterling, VA (Northern Virginia 2)			Washington, D.C.		3Q'16		159,000			9,000			64,000			-			232,000			30.0			-					131-160			131-160
Total							355,000			34,000			148,000			302,000			839,000			52.0			$	109			$	179-221		$	288-330

(a)		Represents NRSF at a facility for which activities have commenced or are expected to commence in the next two quarters to prepare the space for its intended use. Estimates and timing are subject to change.
(b)		Represents NRSF under construction that, upon completion, will be powered shell available for future development into operating NRSF.
(c)		Critical load capacity represents the aggregate power available for lease and exclusive use by customers expressed in terms of megawatts. The capacity reported is for non-redundant megawatts, as we can develop flexible solutions to our customers at multiple resiliency levels. Does not sum to total due to rounding.
(d)		Actual to date is the cash investment as of December 31, 2015. There may be accruals above this amount for work completed, for which cash has not yet been paid.
(e)		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.

CyrusOne Inc. Land Available for Future Development (Acres) As of December 31, 2015 (Unaudited)
		As of
Market		December 31, 2015
Cincinnati		98
Dallas		-
Houston		20
Virginia		3
Austin		22
Phoenix		27
San Antonio		13
Chicago		-
International		-
Total Available		183

CyrusOne Inc. Leasing Statistics - Lease Signings As of December 31, 2015 (Dollars in thousands) (Unaudited)
										Weighted
		Number		Total CSF		Total kW		Total MRR		Average
Period		of Leases(a)		Signed(b)		Signed(c)		Signed ($000)(d)		Lease Term(e)
4Q'15		326		205,000		30,012		$3,630		107
Prior 4Q Avg.		356		45,250		6,149		$1,176		75
3Q'15		392		29,000		4,815		$1,112		57
2Q'15		372		48,000		4,758		$1,119		90
1Q'15		326		60,000		9,759		$1,521		83
4Q'14		335		44,000		5,262		$950		69

(a)		Number of leases represents each agreement with a customer. A lease agreement could include multiple spaces, and a customer could have multiple leases.
(b)		CSF represents the NRSF at an operating facility that is leased as colocation space, where customers locate their servers and other IT equipment.
(c)		Represents maximum contracted kW that customers may draw during lease period. Additionally, we can develop flexible solutions for our customers at multiple resiliency levels, and the kW signed is unadjusted for this factor.
(d)		Monthly recurring rent is defined as the average monthly contractual rent during the term of the lease. It includes the monthly impact of installation charges of approximately $0.1 million in each of 1Q'15, 2Q'15, 3Q'15, and 4Q'15.
(e)		Calculated on a CSF-weighted basis.

CyrusOne Inc. New MRR Signed - Existing vs. New Customers As of December 31, 2015 (Dollars in thousands) (Unaudited)
		New MRR(a) Signed ($000)
		1Q'14		2Q'14		3Q'14		4Q'14		1Q'15		2Q'15		3Q'15		4Q'15
Existing Customers		$716		$844		$347		$768		$1,160		$677		$578		$2,984
New Customers		$790		$591		$347		$182		$361		$442		$534		$646
Total		$1,506		$1,435		$694		$950		$1,521		$1,119		$1,112		$3,630
% from Existing Customers		48%		59%		50%		81%		76%		61%		52%		82%

(a)

Monthly recurring rent is defined as the average monthly contractual rent during the term of the lease. It includes the monthly impact of installation charges of approximately $0.1 million in each of 1Q'15, 2Q'15, 3Q'15, and 4Q'15.

CyrusOne Inc. Customer Sector Diversification(a) As of December 31, 2015 (Unaudited)
			Principal Customer Industry		Number of Locations		Annualized Rent(b)				Percentage of Portfolio Annualized Rent(c)			Weighted Average Remaining Lease Term in Months(d)
1			Information Technology		3		$	17,064,837			4.0	%		30.2
2			Energy		1		15,253,223				3.6	%		29.5
3			Telecommunication Services		2		14,811,414				3.4	%		30.9
4			Research and Consulting Services		3		13,702,181				3.2	%		24.1
5			Energy		5		12,892,884				3.0	%		32.1
6			Information Technology		1		12,178,854				2.8	%		39.0
7			Information Technology		2		11,474,720				2.7	%		110.1
8			Telecommunications (CBI)(e)		7		10,999,444				2.6	%		18.9
9			Industrials		4		10,899,077				2.5	%		23.9
10			Information Technology		2		7,979,724				1.9	%		19.7
11			Financial Services		1		6,600,225				1.5	%		53.0
12			Financial Services		1		5,906,922				1.4	%		71.0
13			Energy		3		5,633,730				1.3	%		6.9
14			Financial Services		2		5,631,831				1.3	%		27.0
15			Information Technology		3		5,630,677				1.3	%		52.0
16			Financial Services		6		5,622,184				1.3	%		53.8
17			Financial Services		3		5,578,562				1.3	%		6.2
18			Energy		2		5,473,736				1.3	%		23.1
19			Telecommunication Services		5		5,461,538				1.3	%		40.0
20			Information Technology		1		4,853,505				1.1	%		62.0
							$	183,649,268			42.8	%		36.9

(a)		Customers and their affiliates are consolidated.
(b)		Represents monthly contractual rent (defined as cash rent including customer reimbursements for metered power) under existing customer leases as of December 31, 2015, multiplied by 12. For the month of December 2015, customer reimbursements were $46.1 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 January 1, 2014 through December 31, 2015, customer reimbursements under leases with separately metered power constituted between 10.6% and 14.2% of annualized rent. After giving effect to abatements, free rent and other straight-line adjustments, our annualized effective rent as of December 31, 2015 was $431.1 million. Our annualized effective rent was greater than our annualized rent as of December 31, 2015 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 December 31, 2015, which was approximately $429.4 million.
(d)		Weighted average based on customer's percentage of total annualized rent expiring and is as of December 31, 2015, 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 2.0% of our annualized rent as of December 31, 2015.

CyrusOne Inc. Lease Distribution As of December 31, 2015 (Unaudited)
NRSF Under Lease(a)			Number of Customers(b)		Percentage of All Customers			Total Leased NRSF(c)		Percentage of Portfolio Leased NRSF			Annualized Rent(d)				Percentage of Annualized Rent
0-999			705		76	%		143,041		6	%		$	73,351,096			17	%
1,000-2,499			84		9	%		130,335		5	%		29,297,831				7	%
2,500-4,999			53		6	%		188,856		8	%		34,469,402				8	%
5,000-9,999			30		3	%		211,828		9	%		42,989,884				10	%
10,000+			58		6	%		1,760,944		72	%		249,297,868				58	%
Total			930		100	%		2,435,004		100	%		$	429,406,081			100	%

(a)		Represents all leases in our portfolio, including colocation, office and other leases.
(b)		Represents the number of customers occupying data center, office and other space as of December 31, 2015. This may vary from total customer count as some customers may be under contract, but have yet to occupy 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 December 31, 2015, multiplied by 12. For the month of December 2015, customer reimbursements were $46.1 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 January 1, 2014 through December 31, 2015, customer reimbursements under leases with separately metered power constituted between 10.6% and 14.2% of annualized rent. After giving effect to abatements, free rent and other straight-line adjustments, our annualized effective rent as of December 31, 2015 was $431.1 million. Our annualized effective rent was greater than our annualized rent as of December 31, 2015 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 December 31, 2015 (Unaudited)
Year(a)			Number of Leases Expiring(b)		Total Operating NRSF Expiring		Percentage of Total NRSF			Annualized Rent(c)				Percentage of Annualized Rent			Annualized Rent at Expiration(d)				Percentage of Annualized Rent at Expiration
Available					519,354		18	%
Month-to-Month			217		19,555		1	%		$	4,853,988			1	%		$	4,853,988			1	%
2016			1,694		430,651		15	%		101,866,759				24	%		102,268,178				22	%
2017			1,090		401,208		14	%		68,340,467				16	%		69,431,760				15	%
2018			999		391,549		13	%		103,628,863				24	%		109,286,220				24	%
2019			308		368,610		12	%		51,446,320				12	%		55,728,792				12	%
2020			262		328,072		11	%		41,712,194				10	%		48,685,958				11	%
2021			211		108,357		4	%		22,862,754				5	%		24,845,073				5	%
2022			18		42,953		1	%		5,211,771				1	%		6,210,761				1	%
2023			50		59,986		2	%		6,437,736				1	%		8,869,188				2	%
2024			13		61,852		2	%		7,631,708				2	%		9,505,391				2	%
2025 - Thereafter			29		222,211		7	%		15,413,521				4	%		22,789,704				5	%
Total			4,891		2,954,358		100	%		$	429,406,081			100	%		$	462,475,013			100	%

(a)		Leases that were auto-renewed prior to December 31, 2015 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.
(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 December 31, 2015, multiplied by 12. For the month of December 2015, customer reimbursements were $46.1 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 January 1, 2014 through December 31, 2015, customer reimbursements under leases with separately metered power constituted between 10.6% and 14.2% of annualized rent. After giving effect to abatements, free rent and other straight-line adjustments, our annualized effective rent as of December 31, 2015 was $431.1 million. Our annualized effective rent was greater than our annualized rent as of December 31, 2015 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 December 31, 2015, multiplied by 12.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160223007016/en/

CyrusOne Inc.
Investor Relations:
Michael Schafer, 972-350-0060
investorrelations@cyrusone.com

Source: CyrusOne Inc.

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