America Móvil B de C : “Telmex reaches an agreement with its labor union” - Form 6-K

"Telmex reaches an agreement with its labor union"

Mexico City, January 16, 2023. América Móvil, S.A.B. de C.V. ("AMX") [BMV: AMX] [NYSE: AMX | AMOV] announces that, after extensive dialogue, its subsidiary Teléfonos de México, S.A.B. de C.V. ("Telmex") and its labor union (Sindicato de Telefonistas de la República Mexicana) reached a constructive agreement on retirement conditions (pensions) applicable from January 2023 to Telmex's newly hired personnel.

The new agreement reduces the maximum retirement benefit from 80% to 60% of the employee's last salary, as integrated with certain benefits. Employees with 35 years of service and at least 65 years old will have the retirement benefits under the new agreement. Unlike the current agreement, that allows retirement after 35 years of service without an age requirement, the only exception under the new agreement to retire before 65 years old is for employees at least 60 years old and with 37 or more years of service.

Additionally, the new agreement allows Telmex's active and retired employees to convert part of their pension liability into shares representing Telmex's capital stock. This is an optional stock plan. So that employees participating in the stock option plan receive Telmex's shares with equal rights as those of Telmex's current shareholders, Telmex will unify its current series of shares into a single series, exclusively made by ordinary and full voting rights shares. This process requires certain corporate and regulatory prior approvals.

With the new agreement, Telmex will continue its important investment program in infrastructure through which, in recent years, it has achieved substantial penetration in high-capacity fiber, and will continue offering to its clients the best services in the best conditions.

This press release contains certain forward-looking statements that reflect the current views and/or expectations of AMX and its management with respect to its performance, business and future events. We use words such as "believe," "anticipate," "plan," "expect," "intend," "target," "estimate," "project," "predict," "forecast," "guideline," "should" and other similar expressions to identify forward-looking statements, but they are not the only way we identify such statements. Such statements are subject to a number of risks, uncertainties and assumptions. We caution you that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in this release. AMX is under no obligation and expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.