Investor Presentaiton

EVOLUTION OF OUR MAIN BUSINESS DRIVERS EVOLUTION OF INFLATION, SERVICE REVENUES, SERVICE COSTS AND LABOR COSTS DURING 2021 60,0% 50,0% 40,0% 30,0% 20,0% 10,0% 0,0% -10,0% -20,0% Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 --Inflation -Service Revenues Service Costs -Labor Costs Note: takes into account the evolution of monthly figures during FY21 (month of Dec-20=100). 14 telecom personal | flow

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