Supplemental Disclosure Material - Ono

INFORMATION REGARDING FORWARD-LOOKING STATEMENTS
This offering memorandum contains forward-looking statements. These forward-looking statements include all
matters that are not historical facts, including the statements under the headings “Summary”, “Risk Factors”, “Management’s
Discussion and Analysis of Financial Condition and Results of Operations of ONOMidco”, “Business” and elsewhere
regarding future events or prospects. Statements containing the words “believe”, “expect”, “intend”, “anticipate”, “will”,
“positioned”, “project”, “risk”, “plan”, “may”, “estimate” or, in each case, their negative and words of similar meaning are
forward-looking statements.
By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend
on circumstances that may or may not occur in the future. We caution you that forward-looking statements are not guarantees
of future performance and that our actual financial condition, results of operations and cash flows, and the development of the
industry in which we operate, may differ materially from those made in or suggested by the forward-looking statements
contained in this offering memorandum. In addition, even if our financial condition, results of operations and cash flows, and
the development of the industry in which we operate, are consistent with the forward-looking statements contained in this
offering memorandum, those results or developments may not be indicative of results or developments in subsequent periods.
Important facts that could cause our actual results of operations, financial condition or cash flows to differ from our current
expectations include, but are not limited to:
• the challenging macroeconomic environment in Spain and the ongoing Eurozone crisis;
• our substantial leverage and ability to service our debts;
• a significant portion of our existing debt maturing prior to the Notes;
• our exposure to changes in interest rates;
• our incurrence of substantially more debt;
• our failure to meet our financial covenants under the New Senior Facility (as described under “Description of
Other Indebtedness”);
• restrictions imposed by our debt obligations and their limitation on our ability to take certain actions;
• our exposure to currency fluctuations as a result of US dollar denominated debt, including the Notes;
• the effect of a further deterioration of economic conditions in Spain;
• our failure to generate sufficient cash flow to fund our operations or capital expenditures;
• competition from other companies in our industry and our ability to retain or increase our market share;
• the difficulty of predicting future demand for our services;
• our failure to introduce successfully enhanced products and services;
• our failure to control customer churn;
• our failure to maintain a positive brand image;
• our exposure to rapid technological change;
• our dependence on others to provide premium programming;
• our reliance on others to provide us with mission critical hardware and software;
• our ability to avoid unanticipated network downtime;
• our failure to retain key employees;
• potential employee or labor relations issues;
• our failure to maintain and upgrade our network;
• the ability of Telefónica de España, S.A.U. (“Telefónica”), the incumbent telecommunications operator, to set
standards and precedents in our market that may adversely affect our business;
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