America Movil Sab De Cv Class B · BMV:AMX/B
America Movil Sab De Cv Class B — Investor Day (May 2024)
28 slides from America Movil Sab De Cv Class B's investor day presentation, May 7, 2024
Slide 1: On the upswing! Firing on all cylinders
On the upswing! america's Firing on all cylinders May 7** 2024
Slide 2: Recent Trends
Recent Trends AMERICA MOVIL - Investor Day 2024
Slide 3: A strong performance over the last three years
A strong performance over the last three years is Consolidated Service Revenue USD Billion at constant exchange rates 40 38 34 2021 2022 2023 2024E Note: Revenue and EBITDA exclude Argentina Consolidated EBIT! USD Billion at constant exc! 20 2021 AM 2022
Slide 4: Revenue growth over '22-'24 will exceed the guidance
Revenue growth over ‘22-'24 will exceed the gui our last Investor Day; EBITDA growth might do Consolidated Service Revenue Growth %, annual change at constant exchange rates 8% 7% 6% » GY an nenn nen necc ccc ccc ccc ccc ccc ccc neccnnccceconecceconecasees 3% Guidance: 2.5-4.0% 2% 2022 2023 Note: Re
Slide 5: Fixed-line revenue growth will likely converge with mobile
Fixed-line revenue growth will likely converge mobile this year; nonetheless its share of reve Consolidated Service Revenue Consolidated Se: USD Billion at constant exchange rates, % of total service %, annual change at con: 10% Fixed-line Mobile ae 2021 2024E 2022 Note: Revenue exclude Argentina
Slide 6: Share of postpaid in mobile service revenue has increased
The share of postpaid in mobile service revenue has increased slightly given its faster growth Consolidated Mobile Service Revenue Consolidated Mo USD Billion at constant exchange rates, % of total mobile %, annual change at con 10% 8% Postpaid 6% Prepaid an 2% 2021 2024E 2022 Note: Revenue exclude
Slide 7: Broadband and corporate networks increase share of fixed-line revenue
Each of broadband and corporate networks r increase by 4pp their share of fixed-line reven Consolidated Fixed-line Service Revenue Consolidated Fixed USD Billion at constant exchange rates, % of total fixed-line %, annual change at con: 15% Corporate Networks ia 5% Broadband 0% Pay TV -5% Fixed-Voic
Slide 8: Mexico and Brazil increase their revenue share
AM Because of superior growth, Mexico and Brazil wi countries to increase their revenue share in 22-2 Service Revenue Growth by Country Service Revenue G %, change 1021 vs. 1024 at local currency %, annual change at local cu 1 mexico |p aow: SRS H Brazil | B40 H 6% Colombia | 6%) 1 I Austria [eel H
Slide 9: EBITDA Growth by Country
AM EBITDA Growth by Country EBITDA Growth by %, change 1021 vs. 1024 at local currency %, annual change at local cu 1 xo ae 7% 1 Brazil [30% | 9% Colombia [Ja% Austria [Be 1 Eastern Europe iss 3% H | 4% ! 1 1 1 [ape | 1 1 1 1 6% Central America Other South he America The Caribbean [208] 3% ! 2022 AM
Slide 10: Funding and Debt
AMERICA MOVIL - Investor Day 2024
Slide 11: Major change in our funding base, MXN bonds trebling
AMERICA MOVIL: Investor Day 2024 @ There has been a major change in our funding base, with MXN bonds trebling and offsetting the reduction of EUR bonds Bonds by Currency USD Billion equivalent m™2021 mApr-24 | 8.5 88 pcccccc . : ! 7:8 t 1 1 Ef 1 1 ] ! 1 sli | ! 1 ! 1 ! 1 ! 1 3-3 2.8 1 2.6 ji 3.0 ! 1
Slide 12: Since end of 2022 we have raised 100Bn+ in peso funding
Since the end of 2022 we have raised 100Bn+ in peso funding half of which was obtained through our Global Peso Notes América Mévil Peso Issues: Nov 22 - Mar 24 MXP Billion 26 ul | Fixed Domestic Float Domestic UDIS Commercial Paper Notes Notes
Slide 13: MXN share of our overall funding has more than doubled
AMERICA MOVIL - Investor Day 2024 MXN share of our overall funding has more than doubled; in terms of net debt MXN accounts for nearly two-thirds of total Net Debt by Currency: April 2024 Gross Debt by Currency % of Net Debt | % of Gross Debt 100% 100% m MXN mEUR mUSD = BRL = Other™ December April 2
Slide 14: Maturity profile of our bond debt is well distributed
AMERICA MOVIL Investor Day 2024 (a) The maturity profile of our bond debt is well distributed through 2049; maturities average USD 1.4Bn in next 10 years Bond Maturity Profile: March 2024 USD Billion m= MXN m= BRL mg USD mEUR = Other* | 1.0 0.9 | : 0.6 Bn : 2024 2025 2026 2027 2028 2029 2030 2031 20
Slide 15: Our leverage ratio, the lowest among major Western telcos
Our leverage ratio, the lowest among major West Stands at 1.5x if measured in dollars, or 1.4x if in f América Movil Leverage Ratio* Times 1.5 1.4 iL5) 1.2 2021 2022 * Net debt (excluding leases)/EBITDA aL
Slide 16: MXN has strengthened vs. all other currencies
... aS the MXN has strengthened vs. all other curr the end of 2021 including +20% vs USD and +28% Mexican Peso vs. Other Currencies December 31, 2021 = 100 145 —BRL EUR —COP —CLP USD 130 aA vas nS 1 DAY “ - WI ee —— & 100 a 7 85 Dec-21 Dec-22
Slide 17: Liquidity position bolstered by liquidity facilities
AM Our liquidity position is bolstered by several lig ‘dit including USD 5Bn+ in committed, readily disburs Liquidity Facilities Committed Revolving Credit Facilities (RCF) + 2.5 USD Billion (AMX) February 2029 + 1.5 EUR Billion (AMX) May 2026 + 1,0 EUR Billion (TKA) July 2026 ¢ European Commercial
Slide 18: Best credit ratings among major Western telcos
AMERICA MOVIL: Investor Day2024 (@g AMxX has the best credit ratings among major Western Telcos; its ratings exceed even those of Mexico Standard & Poor’s Fitch Moody’s UMS (Mexico) Verizon BBB+ A- Baal Orange BBB+ BBB+ Baal Deutsche Telekom BBB+ BBB+ Baal AT&T BBB BBB+ Baa2 Vodafone BBB BBB Baa2 Te
Slide 19: AMERICA MOVIL - Investor Day 2024
AMERICA MOVIL - Investor Day 2024
Slide 20: Claro-VTR JV: Liberty right to match scenarios
Within two or three months we will know whether LIL match our funding in the Claro-VTR JV Scenario A Scenario B Liberty Exercises Liberty DOES NOT Right to Match Exercise Right to Match América Movil Quarterly Impact Service Revenue 15 Growth “4PP No Change EBITDA Growth +0.6pp Net Debt/EBITDA +0.06
Slide 21: Cash Flow and Distributions
AMERICA MOVIL - Investor Day 2024 Cash Flow and Distributions =
Slide 22: CapEx likely to eat up 73% of OCF; distributions exhaust FCF
AMERICA MOVIL -Investor Day 2024 (@2) In the 22-24 period CapEx likely will eat up 73% of our OCF and shareholder distributions will exhaust our FCF Sources and Uses of Funds: 2022- 2024E USD Billion Operating CapEx Free Cash Flow M&A Net Amortization of Net Shareholder Cash Flow Financing Labor Obl
Slide 23: Operating Cash Flow & CapEx; Free Cash Flow
AM Operating Cash Flow & CapEx Free Cash Flow USD Billion USD Billion 16 8 2021 2022 2023 2024E 2021
Slide 24: Share buybacks will continue to increase
We expect our share buybacks will continue to inc there is no M&A in the horizon and leverage is on Shareholder Distributions USD Bn Shed 1.8 13 1.4 2018 2019 2020 2021
Slide 25: Outlook
Outlook AMERICA MOVIL - Investor Day 2024
Slide 26: América Móvil: Outlook 2024-2026
América Movil: Outlook 2024-2026 At constant exchange rates Service Revenue Growth EBITDA Growth CAPEX Leverage Ratio
Slide 27: Final Remarks
Final Remarks ¢ We expect to deliver even stronger operating performa 1 and liquidity well cared for | ¢ We have no material financial risks through currency, inte exposure or debt refinancing ¢ We don’t envisage at present any M&A activities
Slide 28: On the upswing! Firing on all cylinders
On the upswing! america's Firing on all cylinders May 7** 2024