America Móvil B de C : Q3 2021 Quarterly Report

América Móvil's third quarter of 2021 financial and operating report

October 19th, 2021 / 3Q21

Mexico City - América Móvil, S.A.B. de C.V. ("América Móvil") [BMV: AMX] [NYSE: AMX, AMOV], announced today its financial and operating results for the third quarter of 2021.

4.2M wireless net adds and 57k new RGUs

We added 4.2 million wireless subscribers in the third quarter, including 2.2 million postpaid clients. Roughly half the new postpaid clients came from Brazil, with Colombia contributing 313 thousand subs and Peru 262 thousand. Mexico was the leader in prepaid, with 577 thousand net adds, followed by Brazil with 307 thousand.

On the fixed-line platform we gained 57 thousand new RGUs. Broadband additions totaled 252 thousand, whereas disconnections of PayTV and voice accesses added up to 196 thousand.

Service revenues +4.5% YoY at constant exchange rates

Revenue totaled 253.4 billion pesos, a 2.6% decline in nominal peso terms, with service revenue falling 2.1%. At constant exchange rates service revenue actually increased 4.5% year-on-year.

Mobile service revenue +5.9% YoY at constant exchange rates

Mobile service revenue were up 5.9% year-on-year at constant exchange rates with prepaid revenue rising 5.4% and postpaid revenue 6.4%. Mexico and Brazil both increased their mobile service revenue 9%.

Fixed-line service revenue increased 1.6% as fixed-broadband and corporate network revenue expanded 5.6% and 4.6% respectively while PayTV revenue fell 5.2%.

EBITDA +7.5% YoY at constant exchange rates

EBITDA came in at 87.6 billion pesos, up 1.3% annually in nominal peso terms and 7.5% higher at constant exchange rates on the back of revenue expansion and cost control. The EBITDA margin jumped 1.3 percentage points to 34.6%-it was our highest EBITDA margin in nine years. Mexico, Central America, the Dominican Republic and Peru drove the margin expansion.

Operating profit +10.4% YoY at constant exchange rates

Our operating profit, 47.2 billion pesos, rose 4.7% in peso terms and 10.4% at constant exchange rates as depreciation and amortization charges declined 2.5% in peso terms.

Comprehensive financing costs amounted to 25.1 billion pesos, 11.9% more than a year before, mostly driven by an 11.6 billion pesos foreign exchange loss which resulted from the appreciation of the U.S. dollar in the quarter. Our net interest expense was down 12.1%.

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Mexico

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Other South

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América Móvil's third quarter of 2021 financial and operating report

October 19th, 2021 / 3Q21

Net profit of MxP 16Bn

At 15.8 billion pesos, our net profit was down 16.4% from the year-earlier quarter. It was equivalent to 24 peso-cents per share and 24 dollar-cents per ADR.

Shareholder distributions, MxP 37Bn; share buybacks, MxP 22.4Bn

In the nine months to September our cash flow helped us cover capital expenditures of 91.5 billion pesos, shareholder distributions of 37.4 billion pesos, pay down 14.5 billion pesos in labor obligations and reduce our net debt by 37.6 billion pesos in flow terms.

Net debt to EBITDA at 1.55x

Our net debt excluding leases stood at 487.6 billion pesos at the end of September; it was equivalent to 1.55 times LTM EBITDAaL (after leases).

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We will host our conference call to discuss 3Q21 financial and operating results on October 20th at 9:00 am Mexico City time. To access the call please log on to www.americamovil.com/investors

América Móvil Fundamentals

	3Q21	3Q20
Earnings per Share (Mex$) (1)	0.24	0.28
Earning per ADR (US$) (2)	0.24	0.26
EBITDA per Share (Mex$) (3)	1.33	1.30
EBITDA per ADR (US$)	1.33	1.18
Net Income (millions of Mex$)	15,811	18,902
Average Shares Outstanding (billion)	65.80	66.37
Shares Outstanding End of Period (billion)	65.45	66.44

1. Net Income / Average Shares Outstanding
2. 20 shares per ADR
3. EBITDA / Average Shares Outstanding

América Móvil's Subsidiaries as of September 2021

Country	Equity	Brand	Business Participation
Mexico	Telcel	wireless	100.0%
	Telmex	wireline	98.8%
	Sección Amarilla	other	100.0%
	Telvista	other	90.0%
Argentina	Claro	wireless	100.0%
	Telmex	wireline	100.0%
Brazil	Claro	wireless/wireline	99.6%
Chile	Claro	wireless	100.0%
	Telmex	wireline	100.0%
Colombia	Claro	wireless/wireline	99.4%
Costa Rica	Claro	wireless	100.0%
Dominicana	Claro	wireless/wireline	100.0%
Ecuador	Claro	wireless/wireline	100.0%
El Salvador	Claro	wireless/wireline	95.8%
Guatemala	Claro	wireless/wireline	99.3%
Honduras	Claro	wireless/wireline	100.0%
Nicaragua	Claro	wireless/wireline	99.6%
Panama	Claro	wireless/wireline	100.0%
Paraguay	Claro	wireless/wireline	100.0%
Peru	Claro	wireless/wireline	100.0%
Puerto Rico	Claro	wireless/wireline	100.0%
Uruguay	Claro	wireless/wireline	100.0%
USA	Tracfone	wireless	100.0%
Netherlands	KPN	wireless/wireline	21.1%
Austria	Telekom Austria	wireless/wireline	51.0%

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Glossary

The reported figures for Argentina corresponding to the third quarter of 2021 are presented in accordance with a) IAS29 reflecting the effects of the adoption of inflationary accounting that became mandatory after the Argentinean economy was deemed to be hyperinflationary in the third quarter of 2018 and b) IAS21 translated to Mexican pesos using the end-of- period exchange rate.

All comparisons at constant exchange rates for America Movil's consolidated figures will exclude Argentina to ensure consistency.

Relevant Events

América Móvil to sell Claro Panama to Cable and Wireless

On September 15th we announced that we entered into an agreement with Cable & Wireless Panama, S.A. an affiliate of Liberty Latin America LTD., to sell our 100% interest in Claro Panama, S.A. The agreed purchase price is Us$200 million on a cash/debt free basis. The closing of the transaction is subject to customary conditions for this type of transactions, including obtaining required governmental approvals.

América Móvil's shareholders approve Latam tower spin-off

On September 29th we announced that shareholders representing approximately 98% of our capital stock approved the spin-off of approximately 36,000 telecommunications towers and other associated passive infrastructure deployed in 15 countries in Latin American. By virtue of the spin-off, AMX will contribute to Sitios Latinoamérica, S.A.B. de C.V. a portion of its capital stock, assets and liabilities. The spin-off is subject to customary conditions and adjustments for corporate reorganizations and shall comply with applicable requirements under the laws of Mexico and the jurisdictions where the telecommunications towers are located.

América Móvil's & Liberty Latam to combine their Chilean operations

Also, on September 29th Liberty Latin America and América Móvil announced an agreement to combine their respective Chilean operations, VTR and Claro Chile, to form a 50:50 joint venture. The proposed transaction combines the complementary operations of VTR, a leading provider of high-speed consumer fixed products, such as broadband and Pay TV services, where it connects close to 3 million subscribers nationwide, and Claro Chile, one of Chile's leading telecommunications service providers with over 6.5 million mobile customers, to create a business with greater scale, product diversification, and a capital structure that will enable significant investment for fixed fiber footprint expansion and to be at the forefront of 5G mobile delivery. Completion of the transaction is subject to certain customary closing conditions, including regulatory approvals, and is expected to close in the second half of 2022.

América Móvil's Investor Day

On October 5th we held our first Investor Day in four years. It took place in New York City with various investors and analysts present. It was transmmited by webcast and was watched by close to 200 hundred investors and analysts in all. The presentations are available on our website (www.americamovil.com).

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Appendix

Glossary

Access Lines

2.2M postpaid net adds

In the third quarter we added 4.2 million wireless subscribers-of which 2.2 million were postpaid clients-ending September with 301.9 million subscribers, 7.6% more than a year before. Roughly half the new postpaid clients came from Brazil, with Colombia contributing 313 thousand subs and Peru 262 thousand. Chile and Austria each contributed 140 thousand postpaid subs.

Mexico, Brazil and Colombia altogether added 1.1M prepaid net adds

Mexico led the way in prepaid, with 577 thousand net adds, followed by Brazil with 307 thousand and Argentina 270 thousand. Colombia, Ecuador, the Central American block and our European operations each obtained around 200 thousand new prepaid clients.

252k new broadband clients, with Mexico adding almost 100k

On the fixed-line platform we gained 57 thousand new RGUs, with broadband accesses increasing by 252 thousand and with net disconnections of PayTV and land-lines of 104 and 92 thousand accesses respectively. Argentina added 173 thousand RGUs and Colombia 116 thousand; Brazil for its part disconnected 325 thousand.

Mexico contributed close to 40% of the new broadband accesses, with Telmex adding almost 100 thousand and Argentina gaining 73 thousand. As for PayTV, disconnections were essentially in Brazil, with 181 thousand; the rest of the operations in the aggregate added 77 thousand clients.

Wireless subscribers as of September 2021

Total(1) (Thousands)

Country	Sep '21	Jun '21	Var.%	Sep '20	Var.%
Argentina, Paraguay and Uruguay	25,949	25,541	1.6%	23,996	8.1%
Austria	7,638	7,484	2.1%	6,930	10.2%
Brazil	69,213	67,772	2.1%	60,005	15.3%
Central America	16,165	15,912	1.6%	14,533	11.2%
Caribbean	6,876	6,713	2.4%	6,237	10.3%
Chile	6,818	6,746	1.1%	6,505	4.8%
Colombia	34,356	33,844	1.5%	32,024	7.3%
Eastern Europe	15,094	14,841	1.7%	14,679	2.8%
Ecuador	8,547	8,308	2.9%	7,822	9.3%
Mexico	79,315	78,742	0.7%	76,563	3.6%
Peru	11,810	11,501	2.7%	10,552	11.9%
USA	20,149	20,334	-0.9%	20,876	-3.5%
Total Wireless Lines	301,928	297,737	1.4%	280,722	7.6%

1. Includes total subscribers of all companies in which América Móvil holds an economic interest; does not consider the date in which the companies started being consolidated.

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Content

Highlights

Relevant events

Subscribers

América

Móvil

Consolidated

Mexico

Brazil

Colombia

Other South

America

Central

America and

Caribbean

Austria

Other

European

USA

Currency

Exchange

Rates

Glossary