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Friday, 21 April 2017 14:08

Iron Mountain Hosts Investor Day

Topics to Include Progress on Strategic Plan, Capital Allocation and Business Outlook

Company Reiterates 2017 Full-Year Constant Dollar Guidance

BOSTON – Iron Mountain Incorporated (NYSE: IRM), the storage and information management services company, is hosting an Investor Day today in New York City. This gathering of company management, investors and securities analysts will feature management presentations related to the company’s strategic plan and financial outlook by William L. Meaney, president and chief executive officer, and members of the senior executive team. During the presentation, the company will report progress related to its strategic plan and current initiatives.

The company reiterated its expectation for sustained growth in ordinary dividends per share. Amounts presented below represent the projected minimum dividend per share to be declared in the respective periods. The amount and timing of any future dividends will continue to be subject to the approval of the company’s Board of Directors, in its sole discretion, to applicable legal requirements and the factors impacting our financial outlook.

                  
     

2017

   

2018

   

2019

   

2020

Ordinary Annual Div./Share Outlook

   $2.20   $2.35   $2.44   $2.54
                 

The company’s outlook for full-year 2017 remains consistent with Constant Dollar (C$) guidance ranges provided on February 23, 2017 as noted below.

The company reiterates the following fiscal year 2017 guidance:

     

$ in million except per share data

   

FY 2017 Outlook

    

C$

  

C$ Growth

Revenues

   $3,750 - $3,840  8% - 10%

Adj. EBITDA

   $1,250 - $1,280  16% - 19%

Adj. EPS

   $1.15 - $1.25  8% - 18%

AFFO

   $715 - $760  8% - 15%
        

The company will be Webcasting its Investor Day presentation live, and the link is available HERE, or from investors.ironmountain.com under “Events and Presentations.” The presentation will also be posted to the website and available for viewing at the conclusion of the event HERE.

About Iron Mountain
Iron Mountain Incorporated (NYSE: IRM) is the global leader for storage and information management services. Trusted by more than 230,000 organizations around the world, Iron Mountain boasts a real estate network of more than 85 million square feet across more than 1,400 facilities in 46 countries dedicated to protecting and preserving what matters most for its customers. Iron Mountain’s solutions portfolio includes records management, data management, document management, data centers, art storage and logistics, and secure shredding help organizations to lower storage costs, comply with regulations, recover from disaster, and better use their information. Founded in 1951, Iron Mountain stores and protects billions of information assets, including critical business documents, electronic information, medical data and cultural and historical artifacts. Visit www.ironmountain.com for more information.

Forward Looking Statements [to be conformed with presentation
This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws and is subject to the safe-harbor created by such Act. Forward-looking statements include, but are not limited to, our financial performance outlook and statements concerning our operations, economic performance, financial condition, goals, beliefs, future growth strategies, investment objectives plans and current expectations, such as 2017 guidance, 2020 outlook, expected shareholder returns and cash available for distribution, the expected total cost to integrate Recall Holdings Limited (“Recall”) with our company and expected synergies from the acquisition, strategic goals, impact and expected cost savings associated with the Transformation Initiative. These forward-looking statements are subject to various known and unknown risks, uncertainties and other factors. When we use words such as "believes," "expects," "anticipates," "estimates" or similar expressions, we are making forward-looking statements. You should not rely upon forward-looking statements except as statements of our present intentions and of our present expectations, which may or may not occur. Although we believe that our forward-looking statements are based on reasonable assumptions, our expected results may not be achieved, and actual results may differ materially from our expectations. Important factors that could cause actual results to differ from our other expectations include, among others: (i) our expected dividends may be materially different than our estimates (ii) our ability to remain qualified for taxation as a real estate investment trust for U.S. federal income tax purposes; (iii) the adoption of alternative technologies and shifts by our customers to storage of data through non-paper based technologies; (iv) changes in customer preferences and demand for our storage and information management services; (v) the cost to comply with current and future laws, regulations and customer demands relating to data security, privacy issues, as well as fire and safety standards; (vi) the impact of litigation or disputes that may arise in connection with incidents in which we fail to protect our customers' information; (vii) changes in the price for our storage and information management services relative to the cost of providing such storage and information management services; (viii) changes in the political and economic environments in the countries in which our international subsidiaries operate and changes in the global political climate; (ix) our ability or inability to complete acquisitions on satisfactory terms and to integrate acquired companies efficiently; (x) changes in the amount of our capital expenditures; (xi) changes in the cost of our debt; (xii) the impact of alternative, more attractive investments on dividends; (xiii) the cost or potential liabilities associated with real estate necessary for our business; (xiv) the performance of business partners upon whom we depend for technical assistance or management expertise outside the United States; (xv) other trends in competitive or economic conditions affecting our financial condition or results of operations not presently contemplated; and (xvi) other risks described more fully in our filings with the Securities and Exchange Commission, including under the caption “Risk Factors” in our periodic reports including our Annual Report on Form 10-K for the fiscal year ending December 31, 2016. Except as required by law, we undertake no obligation to release publicly the result of any revision to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Reconciliation of Non-GAAP Measures:
We do not provide a reconciliation of non-GAAP measures that it discusses as part of its annual guidance or long term outlook because certain significant information required for such reconciliation is not available without unreasonable efforts or at all, including, most notably, the impact of exchange rates on Iron Mountain’s transactions, loss or gain related to the disposition property, plant and equipment (including of real estate) and other income or expense. Without this information, we do not believe that a reconciliation would be meaningful.