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Rodrigo Wright

Investor Relations

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rodrigo.wright@maxcom.com>

Fundamentals

Comprehensive Income

(Ps. Million) 2Q 20191 1Q 20191 4Q 20181 3Q 20181 20181
Total revenues 366 377 269 270 1,315
Gross profit 152 171 126 134 718
EBITDA 2 58 73 21 15 248
LTM EBITDA 2 167 288 249 317 248
Operating income (loss) (48) (39) (102) (53) (65)
Net income (loss) (93) (9) (244) (31) (315)

Financial Position

(Ps. Million) 2Q 20191 1Q 20191 4Q 20181 3Q 20181 20181
Total assets 3,805 3,806 3,286 3,505 3,286
Cash and financial instruments 3 369 386 463 532 463
Financial liabilities4 1,967 1,985 2,189 2,092 2,189
Total liabilities 3,170 3,079 2,545 2,567 2,545
Total shareholders’ equity 635 727 741 937 741

Cash Flow

(Ps. Million) 2Q 20191 1Q 20191 4Q 20181 3Q 20181 20181
Operating activities 52 124 (59) (12) 10
Investing activities (41) (635) (19) (50) (122)
Financing activities (28) 440 9 (8) (10)
Cash generated in the period (17) (71) (68) (69) (122)

Operating ratios5

2Q 20191 1Q 20191 4Q 20181 3Q 20181 20181
EBITDA / Total revenues 15.90% 19.24% 7.79% 5.60% 18.89%
Operating income (loss)/ Total revenues (13.10%) (10.34%) (37.82%) (19.78%) (4.96%)
Net income (loss) / Total revenues (25.30%) (2.42%) (90.73%) (11.29%) (23.97%)

Liquidity Ratios5

2Q 20191 1Q 20191 4Q 20181 3Q 20181 20181
Current assets / Current liabilities (x) 0.31 1.56 2.40 2.47 2.40
(Current assets - Inventory) / Current liabilities (x) 0.31 1.56 2.39 2.47 2.39
Current assets / Total liabilities (x) 0.25 0.23 0.28 0.36 0.28

Leverage Ratios5

2Q 20191 1Q 20191 4Q 20181 3Q 20181 20181
Net debt6/LTM EBITDA (x) 9.57 5.55 6.93 4.92 6.93
Long-term liabilities / Shareholers’ equity (x) 1.08 4.23 3.03 2.34 3.03
Total liabilities / Total assets (%) 83.31% 80.89% 77.45% 73.25% 77.45%
Total liabilities/ Shareholers equity (x) 4.99 4.23 3.43 2.74 3.43

1 Data from interim financial statements

2 EBITDA equals Operating income (loss) plus depreciation, amortization, impairment charges and other (income) expenses

3 Includes long-term restricted cash

4 The Financial liabilities item is presented at fair value as indicated in audited financial statement

5 Calculations based on proprietary methodology that may differ from estimates produced using other methodologies

6 Equivalent to Financial liabilities less Cash and financial instruments

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