ALFA shareholders approve spin-off of stake in Axtel

This is a machine translation of the original Axtel release published in Spanish.

San Nicolás de los Garza, NL, July 12, 2022. – Axtel, SAB de CV (BMV: AXTELCPO, “Axtel”), a Mexican Information and Communication Technology (ICT) company, informs that Alfa, SAB de CV (BMV: ALFAA, “ALFA”), its majority shareholder, today held an Extraordinary Shareholders' Meeting where the spin-off of its entire shareholding in Axtel was approved.

ALFA will establish a public limited company with variable capital as a spun-off company (“Controladora Axtel”), which will be listed on the Mexican Stock Exchange, to which it will transfer all of its interests in the capital stock of Axtel, as well as other assets and capital. ALFA expects to complete the spin-off, listing and share distribution processes before the end of 2022.

ALFA shareholders will receive one share of Controladora Axtel for each of their ALFA shares, in addition to retaining their participation in ALFA's capital stock.

About Axtel

Axtel is a Mexican Information and Communications Technology company that serves the business, government and wholesale markets through its Alestra (services) and Axtel Networks (infrastructure) business units. Axtel is a subsidiary company of ALFA, which owns 53.9% of its capital. In 2011, it joined the UN Global Compact, the largest social responsibility initiative in the world. It has received recognition from CEMEFI as a Socially Responsible Company for fourteen consecutive years. Axtel's shares, represented by Ordinary Participation Certificates (CPOs), have been listed since 2005 on the Mexican Stock Exchange under the symbol “AXTELCPO”.