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TOTAL PLAY ANNOUNCES A 94% EARLY TENDER, EQUIVALENT TO US$819 MILLION OF ITS EXCHANGE OFFER FOR UP TO US$870 MILLION

—The agreement includes the exchange of US$565 million of Existing Notes and the subscription of additional US$254 million in cash—

 —The broad early exchange is a clear vote of confidence of the financial markets on the strength of Total Play's capital structure and financial prospects—

Mexico City, January 24, 2025— Total Play Telecomunicaciones, S.A.P.I. de C.V. ("Total Play"), Mexico's leading telecommunications company, which offers internet access, pay TV and telephony services, through one of the largest 100% fiber optic networks in the country, announced today the early tender of at least US$819 million of its debt exchange offer for up to US$870 million. The agreement includes the exchange of US$565 million of the Existing Notes and the subscription of an additional US$254 million in cash.

As announced on January 7, the Company launched an exchange offer to holders of the US$600 million senior secured notes due 2028 with an interest rate of 6.375% (the “Existing Notes”) to exchange them for new senior secured notes due 2032 with an interest rate of 11.125% (the “New Notes”). The agreement provides for holders of the Existing Notes to subscribe an additional 45% in cash to be exchanged for the New Notes.

The US$819 million announced in the agreement, equal to 94% of the total amount of the offer, which reaffirms the confidence of the financial markets in Total Play's growing cash generation, the strength of its capital structure and the positive prospects of the business.

The exchange offer and consent solicitation for the notes due in 2028 will conclude on February 6, in accordance with the terms and conditions detailed in the Exchange Offer and Consent Solicitation Memorandum dated January 7, 2025, so those investors who have not participated to date have until February 6 to do so.

Fitch assigned a 'B-' rating with a recovery rating of 'RR4' to the New Notes and considers that, with this transaction, Total Play reduces its refinancing needs and extends its maturity profile, while Moody's assigned a 'B3' rating — with stable outlook — and recognizes the company's growth trajectory, its cash flow generation and adequate liquidity expectations.


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