In accordance with article 44 section XI of the Mexican Securities Market Act, in correlation with article 172 of the General Business Corporations Law, and in my capacity as Chief Executive Officer of Operadora de Sites Mexicanos, S.A.B. de C.V. (the “Company” or “Opsimex”), I am pleased to present this report on the Company’s operations during the fiscal year ended December 31, 2024.

Economic Overview 2024
In 2024, global economic growth reached 3.20%, remaining in line with the rates observed in 2023 and 2022. Looking ahead to 2025, global growth is expected to remain subdued due to ongoing trade tensions.

The U.S. economy remained stable with a 2.79% growth rate compared to 2023, driven by a 3.28% increase in durable goods consumption, a 2.96% rise in services, and a 4.22% increase in residential investment. The U.S. Federal Reserve (Fed) cut its benchmark interest rate by 100 basis points, from 5.50% in 2023 to 4.50% in 2024.

In contrast, China's economic growth slightly decelerated from 5.41% in 2023 to 4.98% in 2024, mainly due to weaker domestic demand, challenges in the real estate sector, and trade restrictions.

In Mexico, despite an increase in public spending, GDP growth was 1.24% in 2024, significantly lower than the 3.20% recorded in 2023. The construction sector expanded by only 2.81%, compared to 15.41% in the previous year, due to infrastructure projects, private investment, and nearshoring-related capital inflows. Private consumption continued its upward trend, although more moderately, with a 1.55% increase in retail activity, supported by a 4.67% rise in the real average salary of workers registered with the Mexican Social Security Institute (IMSS), and record-high remittances totaling USD $64.7 billion.

The Mexican peso ended the year at $20.83 per U.S. dollar, compared to an average of $17.74 in 2023. This depreciation supported greater trade competitiveness and was partially influenced by uncertainty surrounding U.S. trade policy.

Inflation in Mexico stood at 4.21%, lower than the 4.66% recorded in 2023. Core inflation was 3.65%, while non-core inflation reached 5.95%. In the U.S., inflation declined from 3.35% in 2023 to 2.89% in 2024. During the year, Banco de México lowered its benchmark interest rate five times, from 11.25% to 10.00%.

Mexico maintained its position as the United States’ top trading partner, with exports exceeding USD $500 billion in 2024, ahead of China and Canada. However, despite a trade surplus with the U.S., Mexico posted an overall trade deficit of USD 8.2 billion, consisting of a petroleum trade deficit of USD $10.0 billion, partially offset by a non-oil surplus of USD $1.8 billion.

Public finances in Mexico closed the year with a wider fiscal deficit and higher public debt, reflecting increased government spending and infrastructure investment. Public debt as a percentage of GDP rose from 46.67% to 51.83%. The primary deficit reached 1.50%, and total public sector borrowing requirements stood at -5.70% of GDP. For 2025, the Ministry of Finance and Public Credit projects a primary deficit of 0.60% and a fiscal deficit of 3.90%.

To accelerate the country’s growth and development, boosting investment is essential, particularly in the national private sector. Mexico holds significant advantages, including a young population, competitive labor productivity, strategic geographic location, tourism appeal, and abundant natural resources. These factors, combined with investment and stronger domestic consumption supported by job creation and higher incomes, will be critical drivers of the country’s economic development.

Opsimex’s Operating and Financial Performance
Below are key highlights from the Company’s financial statements for fiscal year 2024, which are attached to this report, including the opinion issued by the External Auditor.

Opsimex began 2024 with a portfolio of 23,097 revenue-generating sites. Over the course of the year, 1,018 new sites were added, ending the year with a consolidated portfolio of 24,115 towers, of which 8,417 are directly owned by Opsimex, 15,388 belong to the OPSIMEX Trust 4594 (“FSites”), and 310 are owned by Telesites Costa Rica, S.A. As of year-end, the Company had an additional 5,792 co-location agreements in place, resulting in a consolidated tenancy ratio of 1.240 tenants per tower.

The Company recorded total revenues of MXN $13.2 billion, representing an 11.0% year-over-year increase, primarily due to the growth in the number of sites. EBITDA reached MXN $12.5 billion, also growing by 11.0% versus the previous year, with an EBITDA margin of 94.4% at the end of 2024. Capital expenditures totaled MXN $1.9 billion during the year, including MXN $1.6 billion allocated to FSites. On April 30, 2024, Opsimex’s General Shareholders’ Meeting approved the distribution of a dividend of MXN $1.6 billion, which was paid on May 30, 2024.

Opsimex remains focused on achieving sustainable growth, driven by the ongoing expansion of its clients’ networks and the development of the telecommunications infrastructure required to support them. The FSites portfolio grew from 14,396 revenue-generating towers at the end of 2023 to 15,388 by year-end 2024.

Throughout 2024, the Company and its subsidiaries continued to demonstrate resilience and stability, operating efficiently with sound financial health and robust planning. Our commitment to optimizing resource use remains a key strategic priority. We reaffirm our dedication to maintaining the highest standards of quality and service for our employees, customers, and suppliers.

Thank you to all our shareholders for your continued trust. On behalf of the entire team at Operadora de Sites Mexicanos, S.A.B. de C.V., we reaffirm our unwavering commitment to continually improving the execution of our operations.