TOTAL PLAY ANNOUNCES EXCHANGE OFFER AND CONSENT SOLICITATION TO THE HOLDERS OF THE REMAINING US$361.5 MILLION OF ITS SENIOR NOTES DUE 2025

—Total Play punctually fulfills its commitment to extend to all holders of the Senior Notes due 2025 the option to participate in an exchange with similar conditions to the private exchange—

MEXICO CITY, March 22, 2024 /PRNewswire/ -- Total Play Telecomunicaciones, S.A.P.I. de C.V. ("Total Play"), a leading telecommunications company in Mexico, which offers internet access, pay television and telephony services, through one of the largest 100% fiber optic networks in the country, announced today the launch of an exchange offer and consent solicitation to the holders of the remaining US$361.5 million of its US$575 million Senior Notes due 2025 to exchange them for senior secured notes due 2028 (the "New Notes").  As previously informed, a successful private exchange agreement was reached on February 21, 2024, with a group of investors for US$213.5 million of such senior notes due 2025 (the "Private Exchange").

The exchange offer and consent solicitation of the New Notes announced today, proposes to exchange at par, to earmark accounts receivable from the master trust and transfer the flows and payments of such accounts to a payment source trust, bear an annual interest rate of 10.5%, and have an increasing amortization schedule of 20% in 2026, 30% in 2027, and 50% in 2028, respectively — the same conditions that were offered in the Private Exchange on February 21.

In addition, the New Notes will be listed and registered on the Singapore Exchange (SGX), enabling the freedom to perform trading operations. Furthermore, the proposed issuance enhances the guarantee of coupon payments through the creation of a reserve account, additional to the one established in the source of payment trust that covers the entire payment of any subsequent coupon, after the completion of the preceding payment.

The exchange offer and consent solicitation endorse Total Play's firm determination to broaden its maturity profile and boost its liquidity to further strengthen its capital structure for the benefit of all its stakeholders. Through this process, Total Play refutes any speculation about its capabilities to access debt markets efficiently and without leveraging fixed assets, which categorically reinforces confidence in the company.

The terms and conditions of the exchange offer are available in the Exchange Offer and Consent Solicitation Memorandum, dated March 22, 2024.

Total Play is a leading Triple Play provider in Mexico that, thanks to the widest direct-to-home fiber optic network in the country, offers entertainment and technologically advanced services with the highest quality and speed in the market. For the latest news and updates about Total Play, visit: www.totalplay.com.mx.

Total Play is a Grupo Salinas company (www.gruposalinas.com), a group of dynamic, fast-growing, and technologically advanced companies focused on creating economic value through market innovation and goods and services that improve standards of living; social value to improve community well-being; and environmental value by reducing the negative impact of its business activities. Created by Mexican entrepreneur Ricardo B. Salinas (www.ricardosalinas.com), Grupo Salinas operates as a management development and decision forum for the top leaders of member companies. Each of the Grupo Salinas companies operates independently, with its own management, board of directors, and shareholders. Grupo Salinas has no equity holdings. The group of companies shares a common vision, values, and strategies for achieving rapid growth, superior results, and world-class performance.

Except for historical information, the matters discussed in this press release are concepts about the future that involve risks and uncertainty that may cause actual results to differ materially from those projected. Other risks that may affect Total Play and its subsidiaries are presented in documents sent to the securities authorities.

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SOURCE Total Play Telecomunicaciones, S.A.P.I. de C.V.

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