America Movil Sab De Cv Class B · BMV:AMX/B
America Movil Sab De Cv Class B — Investor Day (October 2021)
30 slides from America Movil Sab De Cv Class B's investor day presentation, Oct 5, 2021
Slide 1: Delivering New Value in Every Day Life
DELIVERING NEW VALUE 3 IN EVERY DAY LIFE moun October 52021
Slide 2: M&A: Work in Progress
MsA: WorRK IN PROGRESS AMERICA MOVIL - Investor Day 2021
Slide 3: Sale of Tracfone
AMERICA MOVIL - Investor Day 2021 SALE OF TRACFONE ¢ Expected to close by year-end ¢ USS6.25 billion to be received o US$§3.125 billion in cash o USS$3.125 billion in Verizon stock
Slide 4: Purchase of Oi's Mobile Clients
AMERICA MOVIL : Investor Day 2021 PURCHASE OF O1’S MOBILE CLIENTS ¢ Expected to close in 1922 o 12M clients: o 5M Postpaid o 7M Prepaid o Expected revenues of 2.1 billion reais
Slide 5: Tower Spin-off and Sale of Panama
AMERICA MOVIL : Investor Day 2021 TOWER SPIN-OFF Stock Exchange in 1922 SALE OF PANAMA * Expected closing in 3Q22 ¢ USS200M to be received for Panama
Slide 6: Tower spin-off will shed debt
Through the spin-off of its towers AMX will she of debt at a cost of 350 Min EBITDA Total sites (thousands) ARGENTINA 4.4 BRAZIL 12.5 CHILE 2.5 CENTRALAMERICA 7.7 CaRIBBEAN 1.5 Ecuapor 2.4 Paracuay, URUGUAY 1.3 PERU 3.7 TOTAL 36.0 NOTE: 10-YEAR INFLATION ADJUSTED CONTRACTS RENEWABLE FOR 10 MORE YEAR
Slide 7: JV in Chile
JV IN CHILE AMERICA MOVIL : Investor Day 2021 Expected closing in 3Q22 US$355M in debt to be contributed by AMX to the JV in Chile USS$100M to be received by AMX as equalization from Liberty Latin America to attain a 50/50 she eg JV's debt to total US$1.9 billion at the outset; le to remain below 3.
Slide 8: Claro and VTR coming together attain scale
AMERICA MOVIL - Investor Day 2021 With Claro and VTR coming together we have attained scale to match the top players in revenues and develop major synergies LTM Jun 21 Claro Chile VIR Revenues (USD Billion) 11 0.8 EBITDA aL (USD Million) 175 293 CapEx (USD Million) 184 191 Mobile Subscribers (Millio
Slide 9: Recent Trends
RECENT TRENDS | % . Ny Wha # My AMERICA MOVIL - Investor Day 2021
Slide 10: Strong organic performance despite the pandemic
AMERICA MOVIL - Investor Day 2023 Over the last five years we have maintained a strong organ performance in spite of the pandemic... Consolidated Service Revenues Consolidated EBITDA a USD Billion at constant exchange rates USD Billion at constant exchans 34 14 Cc 32 12 30 10 28 © r r r T 1 8 2017 2
Slide 11: 7 percentage point increase in EBITDA margin
AMERICA MOVIL - Investor Day 2023 ... which has resulted in a7 percentage points increase in our EBITDA Margin EBITDA aL Margin Yo 35% 33% 31% 29% 27% 27.4% 25% « 2017 2018 2019 2020 Note: REVENUES AND EBITDA EXCLUDE TRACFONE ANDARGENTINA
Slide 12: EBITDA expanding, capex flat, FCF doubled
With our EBITDA expanding rapidly and our CAPE relatively flat, our FCF has doubled Capital Expenditures USD Billion 12 9 6.9 BN . —<————“"= 3 to) : : + + 2017 2018 2019 2020 2021E Note: CaPEX AND FCF EXCLUDE TRACFONE ANDARGENTINA AMERICA MOVIL : Investor Day 2021 Free Cash Flow USD Billion
Slide 13: KPI growth: nominal vs. constant exchange rates
as EBITDA KPI Growth: Nominal vs. Constant Exchange Rates CAGR 2017 vs. 2021E i Constant — =... Service Revartiés EBITDA aL Nore: REVENUES, EBITDAAND FCF EXCLUDE TRACFONE ANDARGENTINA
Slide 14: Uses of cash flow 2016-2020
AMERICA MOVIL - Investor Day 2021 In the five years to 2020 the repayment of debt absorbed almost half of our free cash flow before dividends Uses of Our Cash Flow: 2016- 2020 USD Billion ea | Free Cash Flow Net Debt Dividends Share M&A Labor Oblivations® Amortization Paid Out Buybacks *NET OF DIVID
Slide 15: Going Forward: Leverage and Distributions
GOING FORWARD: LEVERAGE AND DISTRIBUTIONS ! i ? iy S hy A We Py iv AMERICA MOVIL - Investor Day 2021
Slide 16: Debt to fall by US$10 billion by March 2022
AMERICA MOVIL - Investor Day 2021 The sale of Tracfone, the tower spin-off and our cash flow will further reduce our debt by USs10 billion by March 2022 América Movil Consolidated Net Debt USD Billion Amortization Sale of Tracfone* Towers Spin-off Oi’s mobile Chile & business Panama a7 ‘o.7 December
Slide 17: Nearly US$18 billion of debt paid down since 2016
By March 2022 we will have paid down debt int nearly US$18 billion since 2016... Cumulative Cash Reductions in Net Debt USD Billion
Slide 18: Net debt less than half of 2014 peak
... and our net debt will be less than half of what it wa peak In 2014 América Movil Gross & Net Debt USD Billion 45 40 35 30 AMERICA MOVIL: Inve 41.0 36.5 Gross Dest —=NeT DEBT
Slide 19: Bringing down leverage since 2016
AMERICA MOVIL : Investor Day 2021 Since 2016 we worked decisively to bring down our leverage; | had exceeded our target on account of many factors AMX Leverage Ratio* Times 2.4 M&A IN EUROPE 2.0 16 LatAm EXPANSION/ FixeD- MOBILE CONVERGENCE 1.2 / 08 0.4 0.0 2001 2002 2003 2004 2005 2006 2007 2008 20
Slide 20: AMX leverage ratio history
AMERICA MOVIL - Investor Day 2021 AMX LEVERAGE RATIO Increase in mobile penetration 2001-2011 Expanding our footprint in Latin America 1.1X Going Convergent: Acquisition of Telmex and Telmex International M&A in Europe o Stake in KPN o Controlling stake in TKA 2012-2015 . : 2,0X ; Unintended Increas
Slide 21: Annual bond maturities a small fraction of free cash flow
AME Our annual bond maturities will average a small f free cash flow over the next ten years Bond Maturities in International Capital Markets USD Billion, as of October 2021 3.6 1.9 a 1.0BN = 1.4 Ze aia SS 2022 2023 2024 2025 2026 2027 2028 2029 2030 2033 2034- 2037, 2036 203 NoTE: 2024 DOES NOT INC
Slide 22: Annual bond maturities a small fraction of free cash flow
AMERICA MOVIL : Investor Day 202 Our annual bond maturities will average a small fraction of free cash flow over the next ten years Bond Maturities in International Capital Markets USD Billion, as of October 2021 1.9 ie 1.0BN 2022 2023 2024 2025 2026 2027 2028 2029 2030 — 2034-. 20 2036 2 NoTE: 2024
Slide 23: Liquidity Facilities
AMERICA MOVIL : Investor Day 2021 LIQUIDITY FACILITIES * Committed Revolving Credit Facilities (RCF) + 4.0 USD Billion (AMX) + 1.0 Euro Billion (TKA) * European Commercial Paper Program + 2.0 Euro Billion (AMX) + 1.0 Euro Billion (TKA)
Slide 24: Telecom Credit Ratings
AMERICA MOVIL - Investor Day 2021 TELECOM CREDIT RATINGS Moopy's FITCH STANDARD & Poor's pwdmenmon ae Verizon Baa1 A- BBB+ Orange Baa1 BBB+ BBB+ Deutsche Telekom Baa1 BBB+ BBB AT&T Baa2 BBB+ BBB Vodafone Baa2 BBB BBB Telefonica Baa3 BBB BBB-
Slide 25: Flexibility to expand shareholder distributions
AMERICA MOVIL - Investor Day 2021 With our leverage ratio down we now have the flexibility to expand shareholder distributions as we have done before Shareholder Distributions USD Billion m Share buybacks = Cash Dividends ie | . if) 1 ‘ome 13.0 1 1 0.8BN | 1 1 I 1 i 2001 2002 2003 2004 2005 2006 200
Slide 26: Annual shareholder distributions and share buybacks
ANNUAL SHAREHOLDER SHARE BUYBACKS : DISTRIBUTIONS : (% of annual shareholder (USD Billion) distributions) 2001-2006 : 0.8 : 31.2% 2007-2015 4.3 63.2% 2016-2020 0.9 2 15.7% 2021 2.9 : 56.7% * AVERAGE FOR THE YEAR
Slide 27: Outlook
* i. OUTLOOK AMERICA MOVIL - Investor Day 2021
Slide 28: América Móvil Outlook 2022-2024
AMERICA MOVIL: Invest AMERICA MOVIL: OUTLOOK 2022-2024 At constant exchange rates SERVICE REVENUES EBITDA* CAPEX** 24BN LEVERAGE RaTio*** 1.20- CHILE. *INCLUDES IFRS 16. **INCLUDING SPECTRUM. ***NET DEBT (EXCLUDING LEASES)/EBITDAAL
Slide 29: Final Remarks
FINAL REMARKS ¢ Our leverage is down to a comfortable level, debt maturities are stretched out and liquidity well ° We have flexibility to provide greater Bhaleiict e distributions ¢ We don't envisage M&A outside our current f
Slide 30: Delivering New Value in Every Day Life
DELIVERING NEW VALUE 3 IN EVERY DAY LIFE moun October 52021