Schedule of interests in direct and indirect subsidiaries

At December 31, 2025 and 2024, the main direct and indirect subsidiaries of the Company were as follows:


		Company’s
		Ownership
		Interest ⁽¹⁾
Subsidiaries		2025		2024
Telecom ⁽²⁾:
Corporativo Vasco de Quiroga, S.A. de C.V. (“CVQ”) and subsidiaries ⁽³⁾		100	%	100	%
Empresas Cablevisión, S.A.B. de C.V. and subsidiaries (collectively, “Empresas Cablevisión”) ⁽³⁾		51.5	%	51.5	%
Cablestar, S.A. de C.V. and subsidiaries (collectively, “Bestel”) ⁽³⁾		66.4	%	66.4	%
Cablemás and subsidiaries (collectively, “Cablemás”) ⁽³⁾		100	%	100	%
Televisión Internacional, S.A. de C.V. and subsidiaries (collectively, “TVI”) ⁽³⁾		100	%	100	%
Sky DTH, S.A. de C.V. (“Sky DTH”) ^{(3) (4)}		100	%	100	%
Innova Holdings, S. de R.L. de C.V. (“Innova Holdings”) ^{(3) (4)}		100	%	100	%
Innova, S. de R.L. de C.V. (“Innova”) and subsidiaries (collectively, “Sky”) ^{(3) (4)}		100	%	100	%
Corporate Entities:
Grupo Telesistema, S.A. de C.V. (“Grupo Telesistema”) and subsidiaries ⁽⁵⁾		100	%	100	%
Multimedia Telecom, S.A. de C.V. (“Multimedia Telecom”) ⁽⁵⁾		100	%	100	%

(1)	Percentage of equity interest directly or indirectly held by the Company as of December 31, 2025 and 2024.

(2)	See Note 26 for a description of the Group’s segment reporting.

(3)	CVQ is a direct subsidiary of the Company and the parent company of Empresas Cablevisión, Bestel, Cablemás, TVI, Sky DTH, Innova Holdings, and Sky. Cablestar, S.A. de C.V. is an indirect majority-owned subsidiary of Empresas Cablevisión.

(4)

Innova is an indirect subsidiary of the Company, CVQ and Sky DTH, and a direct wholly-owned subsidiary of Innova Holdings. Sky is a satellite television provider in Mexico, Central America and the Dominican Republic. Through May 2024, the Company held a 58.7% interest in Innova Holdings and Innova. In June 2024, the Company acquired the remaining 41.3% non-controlling interest in these companies held by AT&T, by which the Company became an indirect owner of 100% of the capital stock of Innova Holdings and Innova (see Notes 3 and 19).

(5)

Grupo Telesistema is a direct subsidiary of the Company and the parent company of Multimedia Telecom. As of December 31, 2025 and 2024, Grupo Telesistema and Multimedia Telecom, together with the Company, owned most of the Group’s corporate assets, including the Group’s aggregate investment in common and preferred shares of TelevisaUnivision (see Notes 3, 10 and 26).

Schedule of property, plant and equipment, estimated useful lives


		Estimated
		Useful Lives
Buildings		20-50 years
Networks and technical equipment		3-30 years
Satellite transponders		15 years
Furniture and fixtures		10-15 years
Transportation equipment		4-8 years
Computer equipment		3-6 years
Leasehold improvements		5-20 years

Schedule of intangible assets, estimated useful lives


		Estimated
		Useful Lives
Trademarks with finite useful lives		4 years
Licenses		3-10 years
Subscriber lists		4-5 years
Payments for renewal of concessions		20 years
Other intangible assets		3-20 years

Schedule of new or amended standards issued by IASB


				Effective for Annual
				Reporting
				Periods Beginning
New or Amended IFRS Accounting Standard		Title of the IFRS Accounting Standard		On or After
Annual Improvements ⁽¹⁾		Annual Improvements to IFRS Accounting Standards – Volume 11		January 1, 2026
Amendments to IFRS 9 and IFRS 7 ⁽¹⁾		Amendments to the classification and Measurement of Financial Instruments		January 1, 2026
IFRS 18		Presentation and Disclosure in Financial Statements		January 1, 2027
IFRS 19 ^{(1) (2)}		Subsidiaries without Public Accountability: Disclosures		January 1, 2027
Amendments to IFRS 10 and IAS 28		Sale or Contribution of Assets between an Investor and its Associate or Joint Venture		Postponed
Amendments to IFRS 9 and IFRS 7 ⁽¹⁾		Contracts Referencing Nature-dependent Electricity		January 1, 2026
Amendments to IFRS 19 ⁽¹⁾		Subsidiaries without Public Accountability: Disclosures		January 1, 2027
Amendments to IAS 21 ⁽¹⁾		Translation to a Hyperinflationary Presentation Currency		January 1, 2027

(1)	This new or amended IFRS Accounting Standard is not expected to have a significant impact on the Group’s consolidated financial statements.

(2)	An entity may elect to apply this IFRS Accounting Standard for reporting periods beginning on or after this date.

Amended IFRS Accounting Standard or Guidance		Subject of Amendments
IFRS 1 First-time Adoption of International Financial Reporting Standards		Hedge accounting by a first-time adopter
IFRS 7 Financial Instruments: Disclosures		Gain or loss on derecognition
Guidance on implementing IFRS 7 Financial Instruments: Disclosures		Introduction - Disclosure of deferred difference between fair value and transaction price - Credit risk disclosures
IFRS 9 Financial Instruments		Derecognition of lease liabilities - Transaction price
IFRS 10 Consolidated Financial Statements		Determination of a ‘de facto agent’
IAS 7 Statement of Cash Flows		Cost method