#1Investors' Presentation 3Q20 axtel Axtel - Public Information#2Agenda I. Axtel Overview II. Financial Improvement III. Axtel's Strategy Axtel Public Information 2 axtel#3I. Axtel Overview 3 Axtel Public Information axtel#4B2B, infrastructure-based Company Services 44% Infrastructure 56% EBITDA PF Data Center business LTM 3Q20* Revenues & EBITDA US $601 mm & US$ 203 mm Ps. 12,590 mm & Ps. 4,276 mm Fiber Network +40,600 km +22,000 km LD & 18,600 km Metro Axtel Public Information 4 Government 17% of Total Revenues Enterprise 79% O 21% Services Unit (Alestra) - Revenue Breakdown ~79% Enterprise Others 51% Alestra 49% Infrastructure Unit - Revenue Breakdown 49% service business unit (Alestra) axtel#5Milestones - Delivering Results & Aligning to Industry Trends Combining positive performance, delivering on strategic projects and aligning with industry trends Non-essential Monetizations: Value Creation & Improved Capital Structure Positive Track-record (in MXN$ mm) 4.0 ND/EBITDA (¹) (x) 3.6 3.6 3.7 CAGR 14% 2Q17 3.4 3.2 4,169 4,466 4Q17 2.9 4Q18 3,460 (2) 4Q19 3Q20 294 Business Separation: Capture Opportunities and Maximize Value axtel 61 175 Towers Mass Market Data Centers Proceeds (US$ mm) 840 225 Tower Sale 2017 2018 2019 Business Unit Services > 18,000 Customers Valued added Services Digital Transformation Business Unit Infrastructure ~ 50 Customers Wholesale Connectivity & Passive Infrastructure Value maximization with average EV/EBITDA multiple of 12.0x Net leverage decreased from 4.0x in 2017 to 2.9x in 3Q20 EBITDA growth in line with business plan and market expectations Unmatched brand awareness & portfolio aligned to address fastest-growing segments (1) Without tower sale, merger-related expenses nor data center sale benefit. | (2) Includes merger-related expenses of Ps.429 million. Axtel Public Information 5 Differentiation Maximize value & growth potential of assets axtel#6Effects due to COVID-19 Commercial Increased demand for broadband; over 390 customers increased capacity: +Ps. 15M YTD. Growth in cybersecurity, cloud and collaboration solutions. Impact from tourism, entertainment and SMEs - increase in disconnections vs 2019. • Government segment: austerity measures. YTD impact due to supporting customers: Ps. 35M in revenues - Ps. 87M in NWC investment Operations/ Others "Axtel Digital" project - virtualization and remote access of processes. 85% of personnel in Home Office. 50% of employees have been tested for COVID-19. Contingency Volunteer Fund - ~70% utilized. Control of expenses and Capex. Donated connectivity and software to enable a cloud-based contact center to provide free psychological support for the benefit of Mexican community. Axtel - Public Information 6 axtel#7II. Financial Improvement 7 axtel Axtel Public Information#8YTD Revenues & EBITDA by business unit (as of 3Q20) Revenues - total revenues increased 1% (in MPs) Services Infrastructure +8% -2% 7,527 199 200 7,351 264 3,765 3,501 1,502 249 326 1,452 Gov't Non- recurrent Voice -26% Others +4% 5,899 Government -3% Enterprise -2% Recurrent -16% Enterprise 6,025 YTD'19 EBITDA - in line with expectations (in MPs) YTD'20 3,125 427 +29% Infrastructure 1,461 298 -18% Services 1,665 (1) YTD'19 Infrastructure (1) Pro forma Data Center transaction. (2) Excludes Ps. 2,021M from Data Center sale. Axtel Public Information 8 YTD'19 +4% 3,254 (2) 1,888 1,367 Services YTD'20 YTD'20 axtel#9Debt & Liquidity Profile (as of 3Q20) Liquidity Cash as of Sept. 30, 2020: US $163 M (includes US $13 M restricted cash) О ~US $56 M from data center transaction • Committed line facility: US $49 M drawn Drawn short-term bank facilities: Ps. 310 M FX FWDs for coupon Nov'20 & Capex Oct'20 O US $20 M @ 22.25 Ps/USD Debt Composition (as of September'20) Net Debt: US$ 580 M Acc. Pay. Alfa: US$ 2 M 63 20 145 15 580 500 163 Net Debt 2024 Notes Bancomext (Dlls) (Ps) IFRS 16 Short-term Others Loans Cash Axtel Public Information 9 Leverage Evolution (Net Debt / EBITDA*) 4.0 3.7 3.6 3.6 3.4 3.2 2.9 (1) 2Q'17 4Q'17 2Q'18 3Q'18 4Q'18 4Q'19 3Q'20 (1) With normalized cash balance. * Without tower sale, merger-related expenses, data center sale, spectrum transaction. Maturity Profile (in US $mm) Avg. life: 4.0 yrs 511 67 21 14 12 15 22 40 40 2020 2021 2022 Bancomext 2023 2024 Others 2025 2026 2027 2028 2024 Notes axtel#10III. Axtel's Strategy Strategy & Improved Capital Structure Axtel Public Information 10 axtel#11Strategy Focused on Maximizing Value Maximize Value Be the leading neutral fiber optic network Separation in 2 Infrastructure Unit operator in a high growth market business units: - Differentiation Maximize value & growth potential Axtel Public Information Long-term solid profitability vehicle 火雞 Main connectivity provider for mobile networks and data centers Digitalization to improve efficiency Service Unit H Be the principal digital transformation enabler of enterprise and government segments Organic and inorganic growth of cybersecurity and IT services 11 Accelerate market penetration on digital innovation services Specialization and automation of strategic services' value chain axtel#12Functional Separation: Capture Opportunities and Maximize Value INFRASTRUCTURE (“AXTEL NETWORKS") SERVICES ("ALESTRA") • ~50 customers Network Telecom IT Wholesale connectivity and • >18k SAN DIEGO, CA passive infrastructure Largest neutral operator Connectivity Collaboration System Integration customers E • Value-added services 8-8 Unified Comm. Video Conference DRP IT Infrastructure TIJUANA EL PASO, TX MEXICALI NOGALES CD. JUÁREZ IP Transit DALLAS, TX Fiber (Dark & Lit) Expand expertise Managed Networks Cloud HERMOSILLO OBREGO OS MOCHI CULIACA CHIHUAHUA SAN ANTONIO MONCLOVA LAREDO DELICIAS NUEVO LAREDO MONTERREY MCALLEN, TX MATAMOROS TORREÓN SALTILLO REYNOSA Spectrum DURANGO MAZATLÁN 40,600 km 22,000 km (LD) 18,600 km (Metro) CD. VICTORIA ZACATECAS AGUASCALIENTES SLE OVERDE TAMPICO TEPIC LEON CRO POZA RICA GUADALAJARA PACHUCA MORELIA TOLUC CELAYA TULAMX PUEBLA ORIZAB CORDOBA CUERNAVACA JALAPA VERACRUZ ACAPULCO TEHUACAN COATZACONICOS VILLA TUXTLA GUTIÉRREZ Wholesale Access Migration organically and/or inorganically: 百百 VPN Ethernet LAN Cybersecurity Hybrid cloud Digital Transformation Wi Fi SD-WAN Productivity applications Cybersecurity Fiber to the Tower 000+ Fiber to the Data Center Systems Integration Standard Services 1) Source: AV&CO (2019). Axtel Public Information Wholesale/Operators (Including Alestra Services) 12 Internet Voice Perimeter Enterprise and Government Internal Network axtel#13Non-strategic Asset Divestments - Focused Strategy & Indebtedness Reduction Tower Sale 142 towers sold to ATC in 2017; 12 additional towers in 2018 Proceeds: 61 Mdlls (~55 Mdlls net proceeds) FTTx Mass Market Divestment Sale to Televisa (~80%) in December 2018 and Megacable (~20%) in May 2019 ■ Km: 5,800 km of FTTx (fiber-to-the-home or business) ■ Proceeds: 5,863 MPs (~5,450 MPs net proceeds) Customers: ~280,000 Axtel Public Information 1 3 Data Centers' Alliance with Equinix Valuation: 175 Mdlls (~157 Mdlls net proceeds*) 2 13 Includes assets and operations of 3 Data Centers 3 large-scale colocation customers Joint-Marketing agreement: Develop marketing opportunities for IT Solutions, data center and network services; exchange sales leads of the enterprise segment and joint participation in government segment projects Apodaca Querétaro Exclude US $5M of related expenses and US $13M of funds held in escrow, to be released in 12 months axtel#14axtel