America Móvil B de C : Q1 2021 Quarterly Report

CONTENT

Highlights

Relevant events

Subscribers

América Móvil Consolidated

Mexico

Carlos García-Moreno

Chief Financial Officer [e-mail]

Daniela Lecuona Torras

Investor Relations Office [e-mail]

América Móvil's first quarter of	1Q21
2021 financial and operating report

Mexico City, April 27th, 2021 - América Móvil, S.A.B. de C.V. ("América Móvil") [BMV: AMX]

[NYSE: AMX, AMOV], announced today its financial and operating results for the first quarter of 2021.

Argentina

Brazil

Colombia

Chile

Ecuador

Peru

• We added 6.0 million wireless subscribers, one third more than a year before, of which 3.3 million were postpaid and 2.8 million were prepaid. Brazil, Mex- ico and Colombia were the main contributors.
• On the fixed-line platform we added 246 thousand broadband accesses, most of them coming from Colombia, Ecuador and Peru.
• First quarter revenues of 248 billion pesos were nearly flat in Mexican peso terms from the year-earlier quarter with service revenues declining 1.1% year-on-year and equipment revenues 0.7%.
• At constant exchange rates service revenues expanded 1.2% year-on-year. Mobile service revenues were up 1.7%, whereas fixed-line service revenue growth turned slightly positive for the first time in eight quarters.
• EBITDA rose 5.2% in Mexican peso terms to 81.7 billion pesos; at constant exchange rates it grew 8.1%. Our EBITDA margin increased almost two per- centage points from a year before to 32.9% on the back of strict cost controls across all markets.

6.0M wireless net adds

246k new broadband clients

1Q revenues of MxP 248Bn pesos

Service revenues +1.2% YoY at constant Fx

EBITDA +8.1% YoY at constant Fx

Central America

Caribbean

USA

Austria & CEE

Currency Exchange Rates

Appendix

• Our operating profit, 41.1 billion pesos, was up 5.7% whereas our compre- hensive financing cost was down 55%, resulting in a swing in net profits to 1.8 billion pesos from a 28.9 billion loss a year before.
• Our cash flow enabled us to cover capital expenditures of 24.9 billion pesos, buy back shares in the amount of 4.4 billion pesos and reduce our net debt by 9.9 billion pesos.
• At the end of March, our net debt stood at 627 billion pesos; it was equivalent to 1.77 times EBITDA under IAS 17.

Operating profit up 5.7% YoY

CapEx of MxP 25Bn pesos

Net debt to EBITDA at 1.77x

Glossary

We will host our conference call to discuss 1Q21 financial and operating results on April 28th at 9:00 am

Mexico City time. To access the call please log on to www.americamovil.com/investors

CONTENT		page 2
Highlights		América Móvil Fundamentals
				1Q21	1Q20
Relevant events		Earnings per Share (Mex$) (1)	0.03	-0.44
	Earning per ADR (US$) (2)		0.03	-0.44
		EBITDA per Share (Mex$) (3)		1.22	1.18
Subscribers
	EBITDA per ADR (US$)		1.21	1.19
		Net Income (millions of Mex$)	1,810	-28,862
América Móvil
	Average Shares Outstanding (billion)	66.74	66.00
Consolidated
	Shares Outstanding End of Period (billion)	66.54	65.99
Mexico		(1) Net Income / Average Shares Outstanding
	(2) 20 shares per ADR
		(3) EBITDA / Average Shares Outstanding
Argentina
		América Móvil's Subsidiaries as of March 2021
		Country	Brand	Business	Equity
Brazil		Participation
		Mexico	Telcel	wireless	100.0%
Colombia			Telmex	wireline	98.8%
	Sección Amarilla	other	100.0%
			Telvista	other	90.0%
Chile
	Argentina	Claro	wireless	100.0%
			Telmex	wireline	100.0%
Ecuador		Brazil	Claro	wireless/wireline	99.6%
Chile	Claro	wireless	100.0%
			Telmex	wireline	100.0%
Peru
Colombia	Claro	wireless/wireline	99.4%
		Costa Rica	Claro	wireless	100.0%
Central America		Dominicana	Claro	wireless/wireline	100.0%
		Ecuador	Claro	wireless/wireline	100.0%
		El Salvador	Claro	wireless/wireline	95.8%
Caribbean
Guatemala	Claro	wireless/wireline	99.3%
		Honduras	Claro	wireless/wireline	100.0%
USA
	Nicaragua	Claro	wireless/wireline	99.6%
		Panama	Claro	wireless/wireline	100.0%
Austria & CEE		Paraguay	Claro	wireless/wireline	100.0%
Peru	Claro	wireless/wireline	100.0%
Currency		Puerto Rico	Claro	wireless/wireline	100.0%
Uruguay	Claro	wireless/wireline	100.0%
Exchange Rates
USA	Tracfone	wireless	100.0%
Appendix		Netherlands	KPN	wireless/wireline	20.9%
Austria	Telekom Austria	wireless/wireline	51.0%
Glossary

CONTENT

Highlights

Relevant Events

Subscribers

América Móvil Consolidated

Mexico

Argentina

Brazil

Colombia

Chile

Ecuador

Peru

Central America

page 3

The reported figures for Argentina corresponding to the first 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

On March 2nd we launched a three-year exchangeable bond in the amount of

2.1 billion euros. The bond carries no coupon and was sold at a price of 104.75%, which results in a negative yield of -1.53% per annum. The bond may be exchanged at maturity for 672.4 million KPN shares-which represent a 16% interest in the company- at a price of 3.1185 euros per share.

On April 26th we held our Ordinary Shareholders' meeting where we received approval to pay a dividend of MXP$0.40 (forty peso cents) in two installments to each of the series of our capital stock and to allocate an additional amount of MXP$25 billion pesos to our buyback fund. We also received approval to cancel all shares held in treasury acquired as part of AMX's share-buyback program.

Access Lines

In the first quarter we added 3.3 million postpaid subscribers and 2.8 million pre-	3.3M postpaid net
paid subs for a total of 6.0 million wireless additions. Brazil led the way in terms of	adds
postpaid growth adding 2.4 million subs followed by Peru with 210 thousand and
Colombia with 154 thousand. As regards prepaid, we ended the quarter with 192
million subscribers, after adding 812 thousand in Brazil, 500 thousand in Mexico,
298 thousand in Colombia and 213 thousand in Argentina.

Caribbean

USA

Austria & CEE

Currency Exchange Rates

Appendix

Glossary

On the fixed-line platform we added 246 thousand broadband clients, with almost every operation showing an increase in access lines, except for Austria where we had disconnections of low-bandwidth clients. We registered net disconnections in of voice and PayTV accesses.

We ended March with 374 million access lines, 2.8% more than a year before with our postpaid base and our fixed-broadband accesses increasing 7.8% and 4.7%, respectively.

246k new broadband accesses

Total access lines were up 2.8% YoY

CONTENT

Highlights

Relevant events

Subscribers

América Móvil Consolidated

Mexico

Argentina

Brazil

Colombia

Chile

Ecuador

Peru

Central America

Caribbean

USA

Austria & CEE

Currency Exchange Rates

Appendix

Glossary

page 4

Wireless Subscribers as of March 2021

		Total(1)	(Thousands)
Country	Mar '21	Dec '20	Var.%	Mar '20	Var.%
Argentina, Paraguay and Uruguay	24,618	24,234	1.6%	24,667	-0.2%
Austria & CEE	21,932	21,864	0.3%	21,306	2.9%
Brazil	66,337	63,140	5.1%	58,671	13.1%
Central America	15,569	15,044	3.5%	15,469	0.6%
Caribbean	6,562	6,422	2.2%	6,312	4.0%
Chile	6,581	6,435	2.3%	6,966	-5.5%
Colombia	33,461	33,009	1.4%	31,244	7.1%
Ecuador	8,104	7,929	2.2%	8,465	-4.3%
Mexico	78,311	77,789	0.7%	77,212	1.4%
Peru	11,181	10,948	2.1%	11,543	-3.1%
USA	20,883	20,682	1.0%	20,704	0.9%
Total Wireless Lines	293,538	287,497	2.1%	282,559	3.9%

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.

Fixed-Line and Other Accesses (RGUs) as of March 2021

		Total(1)	(Thousands)
Country	Mar '21	Dec '20	Var.%	Mar '20	Var.%
Argentina, Paraguay and Uruguay	1,527	1,459	4.7%	1,210	26.2%
Austria & CEE	6,079	6,050	0.5%	6,131	-0.9%
Brazil	32,273	32,648	-1.1%	33,808	-4.5%
Central America	4,291	4,247	1.0%	4,408	-2.7%
Caribbean	2,586	2,558	1.1%	2,516	2.8%
Chile	1,376	1,377	-0.1%	1,398	-1.5%
Colombia	8,527	8,318	2.5%	7,760	9.9%
Ecuador	476	420	13.4%	458	3.9%
Mexico	21,739	21,925	-0.8%	22,039	-1.4%
Peru	1,805	1,739	3.8%	1,646	9.6%
Total RGUs	80,680	80,740	-0.1%	81,375	-0.9%

1. Fixed Line, Broadband and Television (Cable & DTH). Central America figures have been adjusted in accordance with the methodolgy used for all AMX operations.

CONTENT

page 5

Highlights

Relevant events

Subscribers

América Móvil Consolidated

Mexico

Argentina

Brazil

Colombia

América Móvil Consolidated Results

The strong economic expansion in the United States that had gained momentum in the second half of 2020 continued unabated in the first quarter of the year propelled by news of a second fiscal stimulus plan, talk of a new infrastructure program and solid progress on vaccination. U.S. economic growth forecasts for 2021 were upgraded and initially led to an appreciation of the U.S. dollar vs. most other currencies on the back of rapid increases in medium and long-term dollar interest rates. Various Latin American countries, including Mexico and Brazil, experienced new COVID waves that led to renewed confinements, constrained mobility and a slowdown in economic activity.

Our first quarter revenues totaled 248 billion pesos, nearly flat in nominal peso terms, with service revenues declining 1.1% year-on-year. At constant exchange rates, service revenues actually increased 1.2%, slightly slower than in the preceding quarter when they had risen 2.2%. As in the prior quarter, the main reason for our consolidated nominal peso revenues to decline even though they had risen in local currency terms have mostly to do with the sharp depreciation of the Brazilian real vis-à-vis the Mexican peso, -20.4%.

Service revenues +1.2% YoY at constant Fx

Chile

Ecuador

Peru

Central America

Caribbean

USA

The expansion of service revenues was driven by that of mobile service revenues, which decelerated to 1.7% from 4.1% the prior quarter, and was supported by the continued recovery of fixed-line services. The latter´s revenue growth turned posi- tive, 0.1%, after several quarters of negative growth, on the back of continued strong performance of fixed-broadband services which became our most important revenue line in the quarter maintaining its nearly 8% annual pace. We registered an important improvement in corporate networks, with revenues expanding 2.4% in the quarter compared to a 2.9% decline in the fourth quarter, which tipped into positive territory the overall expansion of fixed-line revenues.

1Q21 Service Revenues(1)

30(%) 2+34Fixed service revenues turned

positive after several quarters of negative growth

Mobile Postpaid

Mobile Prepaid

Fixed Bundles(1)

Fixed Voice

1. Includes Fixed-Broadband,Pay-TV and Fixed Voice in double or triple play bundles.

Austria & CEE

Currency Exchange Rates

Appendix

Glossary

The deceleration of mobile service revenues mirrored that of mobile postpaid	Prepaid revenues
revenues, which slowed down in Brazil, Colombia and Austria. Prepaid revenues,	+2.4% YoY at
for their part, maintained their pace of growth at 2.4%.	constant Fx
EBITDA rose 5.2% to 81.7 billion pesos. At constant exchange rates it was up 8.1%	EBITDA +8.1% YoY
with the EBITDA margin expanding almost two percentage points to 32.9% sup-	at constant Fx
ported by strict cost controls across all markets. Most countries registered strong
EBITDA growth: 59% in the U.S., 47% in Puerto Rico, 36% in Peru and 15% in Do-
minicana.