Document and Entity Information shares in Millions	12 Months Ended
Document and Entity Information shares in Millions	Dec. 31, 2025 shares
Entity Addresses [Line Items]
Document Type	20-F
Amendment Flag	false
Document Registration Statement	false
Document Annual Report	true
Document Period End Date	Dec. 31, 2025
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	FY
Document Transition Report	false
Document Shell Company Report	false
Entity File Number	1-16269
Entity Registrant Name	AMERICA MOVIL SAB DE CV/
Entity Central Index Key	0001129137
Entity Incorporation, State or Country Code	O5
Entity Address, Address Line One	Lago Zurich 245
Entity Address, Address Line Two	Plaza Carso / Edificio Telcel
Entity Address, Address Line Three	Colonia Ampliación Granada
Entity Address, Postal Zip Code	11529
Entity Address, City or Town	Mexico City
Entity Address, Country	MX
Entity Common Stock, Shares Outstanding	60,264
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Document Accounting Standard	International Financial Reporting Standards
Entity Shell Company	false
Auditor Firm ID	1153
Auditor Name	Galaz, Yamazaki, Ruiz Urquiza, S.C
Auditor Location	Mexico City, Mexico
B Shares [Member]
Entity Addresses [Line Items]
Title of 12(b) Security	American Depositary Shares, each representing 20 B Shares, without par value
Trading Symbol	AMX
Security Exchange Name	NYSE
3.625% Senior Notes Due 2029 [Member]
Entity Addresses [Line Items]
Title of 12(b) Security	3.625% Senior Notes Due 2029
Trading Symbol	AMX29
Security Exchange Name	NYSE
2.875% Senior Notes Due 2030 [Member]
Entity Addresses [Line Items]
Title of 12(b) Security	2.875% Senior Notes Due 2030
Trading Symbol	AMX30
Security Exchange Name	NYSE
4.700% Senior Notes Due 2032 [Member]
Entity Addresses [Line Items]
Title of 12(b) Security	4.700% Senior Notes Due 2032
Trading Symbol	AMX32
Security Exchange Name	NYSE
5.000% Senior Notes Due 2033 [Member]
Entity Addresses [Line Items]
Title of 12(b) Security	5.000% Senior Notes Due 2033
Trading Symbol	AMX33
Security Exchange Name	NYSE
6.375% Senior Notes Due 2035 [Member]
Entity Addresses [Line Items]
Title of 12(b) Security	6.375% Senior Notes Due 2035
Trading Symbol	AMX35
Security Exchange Name	NYSE
6.125% Senior Notes Due 2037 [Member]
Entity Addresses [Line Items]
Title of 12(b) Security	6.125% Senior Notes Due 2037
Trading Symbol	AMX37
Security Exchange Name	NYSE
6.125% Senior Notes Due 2040 [Member]
Entity Addresses [Line Items]
Title of 12(b) Security	6.125% Senior Notes Due 2040
Trading Symbol	AMX40
Security Exchange Name	NYSE
4.375% Senior Notes Due 2042 [Member]
Entity Addresses [Line Items]
Title of 12(b) Security	4.375% Senior Notes Due 2042
Trading Symbol	AMX42
Security Exchange Name	NYSE
4.375% Senior Notes Due 2049 [Member]
Entity Addresses [Line Items]
Title of 12(b) Security	4.375% Senior Notes Due 2049
Trading Symbol	AMX49
Security Exchange Name	NYSE
Business Contact [Member]
Entity Addresses [Line Items]
Contact Personnel Name	Daniela Lecuona Torras
Entity Address, Address Line One	Lago Zurich 245
Entity Address, Address Line Two	Plaza Carso / Edificio Telcel, Piso 16
Entity Address, Address Line Three	Colonia Ampliación Granada
Entity Address, Postal Zip Code	11529
Entity Address, City or Town	Mexico City
Entity Address, Country	MX
City Area Code	5255
Local Phone Number	2581-3700
Contact Personnel Fax Number	2581-4422
Contact Personnel Email Address	daniela.lecuona@americamovil.com

Consolidated Statements of Financial Position $ in Thousands, $ in Millions	Dec. 31, 2025 MXN ($)	Dec. 31, 2025 USD ($)	Dec. 31, 2024 MXN ($)
Current assets:
Cash and cash equivalents	$ 34,954,355	$ 1,946	$ 36,652,098
Equity investments at fair value through other comprehensive income (OCI) and other short-term investments	42,430,014	2,362	46,683,687
Accounts receivable:
Subscribers, distributors, recoverable taxes, contract assets and other, net	241,381,386	13,435	221,122,253
Related parties	1,247,942	69	1,395,483
Derivative financial instruments	2,417,009	135	10,668,460
Inventories, net	28,306,625	1,576	23,751,457
Other current assets, net	14,383,083	801	13,424,395
Total current assets	365,120,414	20,324	353,697,833
Non-current assets:
Property, plant and equipment, net	687,263,062	38,252	713,784,429
Intangibles, net	139,248,894	7,750	141,736,581
Goodwill	157,453,175	8,764	156,836,369
Investments in associated companies	4,318,867	240	3,678,383
Deferred income taxes	159,387,970	8,871	153,217,164
Accounts receivable, subscribers, distributors and contract assets, net	13,379,712	745	9,394,158
Other assets, net	57,812,753	3,218	48,206,789
Debt instruments at fair value through OCI	18,086,886	1,007	13,908,873
Right-of-use assets, net	197,543,872	10,995	199,460,378
Total assets	1,799,615,605	100,166	1,793,920,957
Current liabilities:
Short-term debt and current portion of long-term debt	91,973,001	5,119	104,210,738
Short-term liability related to right-of-use of assets	35,866,709	1,996	35,436,851
Accounts payable	167,124,791	9,302	166,924,134
Accrued liabilities	65,690,407	3,656	57,033,837
Income tax	19,785,151	1,101	24,151,790
Other taxes payable	62,010,352	3,451	51,735,433
Derivative financial instruments	16,132,182	898	22,185,709
Related parties	3,263,615	182	3,701,960
Deferred revenues	33,344,862	1,856	29,020,425
Total current liabilities	495,191,070	27,561	494,400,877
Non-current liabilities:
Long-term debt	432,933,859	24,096	463,374,893
Long-term liability related to right-of-use of assets	178,242,224	9,921	177,666,377
Deferred income taxes	27,480,494	1,530	27,731,694
Accounts payable	19,071,252	1,061	17,224,845
Deferred revenues	3,851,733	214	2,672,730
Asset retirement obligations	11,785,915	656	11,512,779
Employee benefits	203,386,684	11,320	167,152,441
Total non-current liabilities	876,752,161	48,798	867,335,759
Total liabilities	1,371,943,231	76,359	1,361,736,636
Equity:
Capital stock	95,353,767	5,307	95,356,548
Retained earnings:
Prior years	474,663,431	26,419	494,346,642
Profit for the year	82,819,082	4,610	22,902,025
Total retained earnings	557,482,513	31,029	517,248,667
Other comprehensive loss items	(290,766,017)	(16,180)	(243,519,865)
Equity attributable to equity holders of the parent	362,070,263	20,156	369,085,350
Non-controlling interests	65,602,111	3,651	63,098,971
Total equity	427,672,374	23,807	432,184,321
Total liabilities and equity	$ 1,799,615,605	$ 100,166	$ 1,793,920,957

Consolidated Statements of Comprehensive Income $ in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2025 MXN ($) $ / shares	Dec. 31, 2025 USD ($) $ / shares	Dec. 31, 2024 MXN ($) $ / shares	Dec. 31, 2023 MXN ($) $ / shares
Operating revenues:
Service revenues	$ 803,655,320	$ 44,730	$ 741,858,822	$ 689,154,325
Sales of equipment	139,983,086	7,791	127,361,762	126,858,519
Operating revenues	943,638,406	52,521	869,220,584	816,012,844
Operating costs and expenses:
Cost of sales of equipment and services	357,637,156	19,906	331,177,822	316,476,140
Commercial, administrative and general expenses	207,011,427	11,522	186,515,841	173,001,297
Other expenses	6,781,152	377	7,298,470	6,965,828
Depreciation and amortization	180,804,783	10,063	164,128,361	151,786,064
Operating costs and expenses	752,234,518	41,868	689,120,494	648,229,329
Operating income	191,403,888	10,653	180,100,090	167,783,515
Interest income	9,127,487	508	9,008,220	9,628,340
Interest expense	(60,318,857)	(3,356)	(56,019,754)	(44,545,241)
Foreign currency exchange gain (loss), net	19,786,745	1,101	(70,698,375)	14,653,523
Valuation of derivatives, interest cost from labor obligations and other financial items, net	(18,306,262)	(1,019)	5,618,840	(26,814,668)
Equity interest in net result of associated companies	294,235	16	(5,179,112)	(5,371,824)
Profit before income tax	141,987,236	7,903	62,829,909	115,333,645
Income tax	53,870,189	2,998	35,238,443	34,544,003
Net profit for the year	88,117,047	4,905	27,591,466	80,789,642
Net profit for the year attributable to:
Equity holders of the parent	82,819,082	4,610	22,902,025	76,110,617
Non-controlling interests	5,297,965	295	4,689,441	4,679,025
Net profit for the year	$ 88,117,047	$ 4,905	$ 27,591,466	$ 80,789,642
Basic earnings per share attributable to equity holders of the parent (in dollars per share) \| (per share)	$ 1.37	$ 0.08	$ 0.37	$ 1.21
Diluted earnings per share attributable to equity holders of the parent (in dollars per share) \| (per share)	$ 1.37	$ 0.08	$ 0.37	$ 1.21
Other comprehensive (loss) income that may be reclassified to profit or loss in subsequent years (net of tax):
Effect of translation of foreign entities	$ (19,341,106)	$ (1,076)	$ 62,171,364	$ (41,548,455)
Items that will not be reclassified to (loss) or profit in subsequent years (net of tax):
Re-measurement of defined benefit plan, net of deferred taxes	(26,394,653)	(1,468)	(27,872,099)	(3,769,565)
Unrealized (loss) gain on investments in equity and debt securities at fair value, net of deferred taxes	(1,639,179)	(91)	3,485,814	(967,609)
Revaluation surplus, net of deferred taxes	798,872	44	1,659,337	868,456
Total other comprehensive (loss) income items for the year, net of deferred taxes	(46,576,066)	(2,591)	39,444,416	(45,417,173)
Total comprehensive income for the year	41,540,981	2,314	67,035,882	35,372,469
Comprehensive income for the year attributable to:
Equity holders of the parent	36,448,139	2,031	54,502,177	34,578,854
Non-controlling interests	5,092,842	283	12,533,705	793,615
Total comprehensive income for the year	$ 41,540,981	$ 2,314	$ 67,035,882	$ 35,372,469

Consolidated Statements of Changes in Shareholders' Equity $ in Thousands, $ in Millions	MXN ($)	USD ($)	Capital Stock [Member] MXN ($)	Legal Reserve [Member] MXN ($)	Retained Earnings [Member] MXN ($)	Unrealized Loss on Equity Investment at Fair Value [Member] MXN ($)	Re-measurement of Defined Benefit Plans [Member] MXN ($)	Cumulative Translation Adjustment [Member] MXN ($)	Revaluation Surplus [Member] MXN ($)	Total Equity Attributable to Equity Holders of the Parent [Member] MXN ($)	Non-controlling Interests [Member] MXN ($)
Beginning balance at Dec. 31, 2022	$ 437,829,273		$ 95,365,329	$ 358,440	$ 505,125,277	$ (11,028,396)	$ (107,106,514)	$ (128,299,347)	$ 19,389,915	$ 373,804,704	$ 64,024,569
Changes in equity
Net profit for the year	80,789,642		0	0	76,110,617	0	0	0	0	76,110,617	4,679,025
Unrealized gain (loss) on equity and debt investments at fair value, net of deferred taxes (Note 21)	(967,609)		0	0	0	(967,609)	0	0	0	(967,609)	0
Remeasurement of defined benefit plan, net of deferred taxes (Note 21)	(3,769,565)		0	0	0	0	(3,662,102)	0	0	(3,662,102)	(107,463)
Effect of translation of foreign entities (Note 21)	(41,548,455)		0	0	0	0	0	(36,676,031)	(723,649)	(37,399,680)	(4,148,775)
Revaluation of assets, net of deferred taxes	868,456		0	0	0	0	0	0	497,628	497,628	370,828
Transfer of assets' revaluation surplus (Note 21)	0		0	0	815,693	0	0	0	(815,693)	0	0
Total comprehensive income for the year	35,372,469		0	0	76,926,310	(967,609)	(3,662,102)	(36,676,031)	(1,041,714)	34,578,854	793,615
Dividends declared	(30,912,348)		0	0	(28,946,819)	0	0	0	0	(28,946,819)	(1,965,529)
Repurchase of shares	(14,323,067)		(3,305)	0	(14,319,762)	0	0	0	0	(14,323,067)	0
Recycling of assets revaluation surplus by spin-off, net of deferred taxes	0		0	0	4,911,409	0	0	0	(4,911,409)	0	0
Other acquisitions of non-controlling interests	(6,263,945)		0	0	1,598,873	0	0	0	0	1,598,873	(7,862,818)
Ending balance at Dec. 31, 2023	421,702,382		95,362,024	358,440	545,295,288	(11,996,005)	(110,768,616)	(164,975,378)	13,436,792	366,712,545	54,989,837
Changes in equity
Net profit for the year	27,591,466		0	0	22,902,025	0	0	0	0	22,902,025	4,689,441
Unrealized gain (loss) on equity and debt investments at fair value, net of deferred taxes (Note 21)	3,485,814		0	0	0	3,485,814	0	0	0	3,485,814	0
Remeasurement of defined benefit plan, net of deferred taxes (Note 21)	(27,872,099)		0	0	0	0	(27,929,881)	0	0	(27,929,881)	57,782
Effect of translation of foreign entities (Note 21)	62,171,364		0	0	0	0	0	52,680,323	2,418,074	55,098,397	7,072,967
Revaluation of assets, net of deferred taxes	1,659,337		0	0	0	0	0	0	945,822	945,822	713,515
Transfer of assets' revaluation surplus (Note 21)	0		0	0	816,810	0	0	0	(816,810)	0	0
Total comprehensive income for the year	67,035,882		0	0	23,718,835	3,485,814	(27,929,881)	52,680,323	2,547,086	54,502,177	12,533,705
Dividends declared	(31,503,566)		0	0	(29,482,507)	0	0	0	0	(29,482,507)	(2,021,059)
Repurchase of shares	(22,740,293)		(5,476)	0	(22,734,817)	0	0	0	0	(22,740,293)	0
Other acquisitions of non-controlling interests	(2,310,084)		0	0	93,428	0	0	0	0	93,428	(2,403,512)
Ending balance at Dec. 31, 2024	432,184,321		95,356,548	358,440	516,890,227	(8,510,191)	(138,698,497)	(112,295,055)	15,983,878	369,085,350	63,098,971
Changes in equity
Net profit for the year	88,117,047	$ 4,905	0	0	82,819,082	0	0	0	0	82,819,082	5,297,965
Unrealized gain (loss) on equity and debt investments at fair value, net of deferred taxes (Note 21)	(1,639,179)	(91)	0	0	0	(1,639,179)	0	0	0	(1,639,179)	0
Remeasurement of defined benefit plan, net of deferred taxes (Note 21)	(26,394,653)	(1,468)	0	0	0	0	(26,414,854)	0	0	(26,414,854)	20,201
Effect of translation of foreign entities (Note 21)	(19,341,106)		0	0	0	0	0	(19,048,380)	276,113	(18,772,267)	(568,839)
Revaluation of assets, net of deferred taxes	798,872	44	0	0	0	0	0	0	455,357	455,357	343,515
Transfer of assets' revaluation surplus (Note 21)	0		0	0	875,209	0	0	0	(875,209)	0	0
Total comprehensive income for the year	41,540,981	2,314	0	0	83,694,291	(1,639,179)	(26,414,854)	(19,048,380)	(143,739)	36,448,139	5,092,842
Dividends declared	(33,584,695)		0	0	(31,388,472)	0	0	0	0	(31,388,472)	(2,196,223)
Repurchase of shares	(11,944,156)		(2,781)	0	(11,941,375)	0	0	0	0	(11,944,156)	0
Loss from transaction under common control (Note 12 a)	(83,228)		0	0	(83,228)	0	0	0	0	(83,228)	0
Other acquisitions of non-controlling interests	(440,849)		0	0	(47,370)	0	0	0	0	(47,370)	(393,479)
Ending balance at Dec. 31, 2025	$ 427,672,374	$ 23,807	$ 95,353,767	$ 358,440	$ 557,124,073	$ (10,149,370)	$ (165,113,351)	$ (131,343,435)	$ 15,840,139	$ 362,070,263	$ 65,602,111

Consolidated Statements of Cash Flows $ in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2025 MXN ($)	Dec. 31, 2025 USD ($)	Dec. 31, 2024 MXN ($)	Dec. 31, 2023 MXN ($)
Operating activities
Profit before income tax	$ 141,987,236	$ 7,903	$ 62,829,909	$ 115,333,645
Items not requiring the use of cash:
Depreciation property, plant and equipment and right-of-use assets	158,889,309	8,843	143,697,887	133,818,176
Amortization of intangible and other assets	21,915,474	1,220	20,430,474	17,967,888
Equity interest in net result of associated companies	(294,235)	(16)	5,179,112	5,371,824
(Gain) loss on sale of property, plant and equipment	282,824	16	264,769	(5,055,264)
Net period cost of labor obligations	21,444,882	1,194	18,232,542	16,971,936
Foreign currency exchange (income) loss, net	(19,786,745)	(1,101)	69,721,961	(16,175,776)
Interest income	(9,127,487)	(508)	(9,008,220)	(9,628,340)
Interest expense	60,318,857	3,356	56,019,754	44,545,241
Employee profit sharing	4,016,423	224	3,721,782	3,938,274
Valuation of derivative financial instruments, capitalized interest expense and other, net	(3,887,863)	(216)	(3,672,093)	4,623,029
Gain on net monetary positions	(5,420,274)	(302)	(27,387,169)	(9,321,480)
Impairment to notes receivable from joint venture	0	0	4,594,792	12,184,562
Impairment of investment in joint venture	0	0	0	4,677,782
Working capital changes:
Subscribers, distributors, recoverable taxes, contract assets and other	(13,146,153)	(732)	(4,160,268)	(19,201,698)
Prepaid expenses	2,942,404	164	2,252,754	(6,154,082)
Related parties	(290,804)	(16)	(3,388,829)	758,301
Inventories	(5,190,448)	(289)	(3,055,411)	2,832,978
Other assets	(10,719,667)	(597)	(8,825,833)	(1,564,370)
Accounts payable and accrued liabilities	(2,814,001)	(157)	(15,450,565)	10,098,156
Deferred revenues	6,683,261	372	2,738,688	3,062,445
Employee benefits paid	(21,577,637)	(1,201)	(27,271,158)	(13,090,945)
Employee profit sharing paid	(3,131,168)	(174)	(3,524,357)	(3,316,540)
Interest received	2,504,220	139	3,489,600	4,882,509
Income taxes paid	(53,199,386)	(2,961)	(48,089,000)	(49,466,056)
Net cash flows provided by operating activities	272,399,022	15,161	239,341,121	248,092,195
Investing activities
Purchase of property, plant and equipment	(114,431,308)	(6,369)	(113,083,319)	(131,101,509)
Acquisition of intangibles	(16,386,132)	(912)	(17,751,708)	(25,237,297)
Dividends received	3,015,648	168	2,779,138	4,590,313
Proceeds from sale of property, plant and equipment	406,588	23	395,232	7,042,757
Acquisition of business, net of cash acquired	(276,841)	(15)	493,714	0
Contractual earn-out from business combination	0	0	893,754	3,468,655
Financial instruments, net			(2,111,926)	(9,420,419)
Financial instruments, net	7,490,018	417
Investments in associated companies	0	0	(72,513)	(459,750)
Acquisition of investments	(4,162,135)	(232)	(10,983,052)	(10,061,353)
Sale of investments	1,443,893	80	15,702,126	10,482,150
Acquisition of notes from joint venture	0	0	(5,497,250)	(14,292,963)
Net cash flows used in investing activities	(122,900,269)	(6,840)	(129,235,804)	(164,989,416)
Financing activities
Loans obtained	238,903,497	13,297	262,041,021	249,380,436
Repayment of loans	(257,291,962)	(14,320)	(232,731,277)	(214,735,610)
Payment of liability related to right-of-use of assets	(51,585,889)	(2,871)	(45,285,610)	(39,498,197)
Interest paid	(32,325,287)	(1,799)	(31,082,117)	(29,031,855)
Repurchase of shares	(11,944,156)	(665)	(22,746,633)	(14,331,361)
Dividends paid	(33,159,586)	(1,846)	(31,007,121)	(30,466,636)
Acquisition of non-controlling interests	(440,849)	(25)	(2,310,084)	(6,263,945)
Payment of deferred consideration of equity interest	(296,861)	(17)	0	0
Net cash flows used in financing activities	(148,141,093)	(8,246)	(103,121,821)	(84,947,168)
Net (decrease) increase in cash and cash equivalents	1,357,660	75	6,983,496	(1,844,389)
Adjustment to cash flows due to exchange rate fluctuations, net	(3,055,403)	(169)	3,070,829	(5,258,787)
Cash and cash equivalents at beginning of the year	36,652,098	2,040	26,597,773	33,700,949
Cash and cash equivalents at end of the year	$ 34,954,355	$ 1,946	$ 36,652,098	$ 26,597,773

Description of the Business and Relevant Events

12 Months Ended

Dec. 31, 2025

Description of the Business and Relevant Events [Abstract]

Description of the Business and Relevant Events

Note 1. Description of the Business and Relevant Events

I.	Corporate Information

América Móvil, S.A.B. de C.V. and subsidiaries (hereinafter, the “Company”, “América Móvil” or “AMX”) was incorporated under the laws of Mexico on September 25, 2000. The Company provides its services in 23 countries or territories. These telecommunications services include mobile and fixed-line voice services, wireless and fixed data services, internet access, Pay TV, over the top (“OTT”) and other related services. The Company also sells equipment, accessories and computers.

•	Voice services provided by the Company, both wireless and fixed, mainly include the following: airtime, local, domestic and international long-distance services, and network interconnection services.

•	Data services include value added, corporate networks, data and Internet services.

•	Pay TV represents basic services, as well as pay per view, additional programming and advertising services.

•	AMX provides other related services to advertising in telephone directories, publishing and call center services.

•	The Company also provides video, audio and other media content that is delivered through the internet directly from the content provider to the end user.

In order to provide these services, América Móvil has licenses, permits and concessions (collectively referred to herein as “licenses”) to build, install, operate and exploit public and/or private telecommunications networks and provide miscellaneous telecommunications services (mostly mobile and fixed voice and data services) and to operate frequency bands in the radio-electric spectrum for point-to-point and point-to-multipoint microwave links. The Company holds licenses in the 23 countries where it has networks, and such licenses have different dates of expiration through 2056.

Certain licenses require the payment to the respective governments of a share in sales determined as a percentage of revenues from services under concession. The percentage is set as either a fixed rate or in some cases based on certain size of the infrastructure in operation.

The corporate offices of América Móvil are located in Mexico City, Mexico, at Lago Zurich 245, Colonia Ampliación Granada, Alcaldía Miguel Hidalgo, 11529, Mexico City, Mexico.

The accompanying consolidated financial statements were approved for their issuance by the Company’s Board of Directors and the Chief Financial Officer on April 23, 2026 and subsequent events have been considered through that date.

II.	Relevant events in 2025

a) On May 14, 2025, the shareholders approved the payment of a dividend of Ps.0.52 (fifty-two cents of a peso) per share from the retained earnings account, payable in two equal installments, to each of the series “B” shares, subject to adjustments arising from the repurchase or placement of its own shares, or other corporate events; and the establishment of the Company’s shares buyback fund in the amount of Ps.10 billion, adding to such amount the buyback program fund’s balance as of such date, which may be used as of the date of this meeting and concluding on the date of the annual meeting that approves the Company´s operations for the fiscal year 2025.

b) On June 30, 2025, the Company issued a US$500 million bond maturing in January 2033 with a 5% coupon.

c) On July 8, 2025, the Company executed multiple reopenings of their Global Peso-Denominated Notes Program, through which the Company expects to develop a more liquid market for its bonds denominated in pesos. The reopening of the AMX29, AMX31, and AMX34 notes reached an aggregate amount of Ps.15.5 billion. Notes outstanding under the Global Peso Program now total Ps.70 billion.

d) On July 28, 2025, the Company acquired the totality of the shares held by LLA UK Holding Limited (“LLA UK”) in Claro Chile, SpA, through the exercise of its call option to purchase such shares under the transaction documents entered into by and among Claro Chile, SpA, the Company, LLA UK and certain of their affiliates. As a result, the Company now owns 100% of Claro Chile, SpA. The Company is also reorganizing the corporate structure, businesses and assets of its Chilean affiliates to enhance operational efficiencies. This restructuring does not affect the interests of debt holders (including noteholders) of Claro Chile, SpA and its subsidiaries.

e) On September 24, 2025, the Company returned to the euro market with a 5-year 650 million euro bond with a 3% coupon. The yield on the bond was 68 basis points above the mid-swaps reference point. The proceeds will be directed to the payment of short-term debt under the Company´s Euro commercial paper program.

Basis of Preparation of the Consolidated Financial Statements and Summary of Significant Accounting Policies and Practices

12 Months Ended

Dec. 31, 2025

Basis of Preparation of the Consolidated Financial Statements and Summary of Significant Accounting Policies and Practices [Abstract]

Basis of Preparation of the Consolidated Financial Statements and Summary of Significant Accounting Policies and Practices

Note 2. Basis of Preparation of the Consolidated Financial Statements and Summary of Significant Accounting Policies and Practices

a)	Basis of preparation

The accompanying consolidated financial statements have been prepared in conformity with IFRS Accounting Standards, as issued by the International Accounting Standards Board (“IASB”).

The consolidated financial statements have been prepared on the historical cost basis, except for the derivative financial instruments (assets and liabilities), the passive infrastructure of mobile telecommunications towers, the trust assets of post-employment and other employee benefit plans, and debt and equity instruments that have been measured at fair value.

Effective July 1, 2018, the Argentine economy has been considered to be hyperinflationary in accordance with the criteria in IAS 29 “Financial Reporting in Hyperinflationary Economies” (“IAS 29”). Accordingly, for the Argentine subsidiaries, we have included adjustments for hyperinflation and reclassifications as is required by the standard for purposes of presentation of IFRS accounting standards in the consolidated financial statements.

The preparation of these consolidated financial statements under IFRS accounting standards requires the use of critical estimates and assumptions that affect the amounts reported for certain assets, liabilities, revenue and expenses. It also requires that management exercise judgment in the application of the Company’s accounting policies. Actual results could differ from these estimates and assumptions.

The Mexican peso is the functional currency of the Company’s Mexican operations and the consolidated reporting currency of the Company.

(i) Changes in Accounting Policies and Disclosures

The accounting policies applied in the preparation of the consolidated financial statements for the year ended December 31, 2025 are consistent with those used in the preparation of the Company´s consolidated annual financial statements for the years ended December 31, 2023 and 2024, with the exception of the following new amendments to existing standards issued by the IASB, which were mandatory for annual periods beginning on or after January 1, 2025:

Lack of exchangeability – Amendments to IAS 21

In August 2023, the IASB issued amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates to specify how an entity should assess whether a currency is exchangeable and how it should determine a spot exchange rate when exchangeability is lacking. The amendments also require disclosure of information that enables users of its financial statements to understand how the currency not being exchangeable into the other currency affects, or is expected to affect, the entity’s financial performance, financial position and cash flows.

The amendments had no impact on the Company’s consolidated financial statements.

(ii) Basis of consolidation

The consolidated financial statements include the accounts of América Móvil and those subsidiaries over which the Company exercises control. The consolidated financial statements for the subsidiaries were prepared for the same period as the Company´s and applying consistent accounting policies. All of the subsidiary companies operate in the telecommunications sector or related.

Subsidiaries are entities over which the Company has control. Control is achieved when the Company has power over the investee, when it is exposed to, or has rights to, variable returns from its involvement with the investee, and has the ability to use its power over the investee to affect the amount of the investor’s returns. Subsidiaries are consolidated on a line-by-line basis from the date which control is achieved by the Company. The Company reassesses whether or not it controls an investee if facts and circumstances indicate that there are changes to one or more of the elements of control.

Changes in the Company’s ownership interests in a subsidiary that do not result in the Company losing control over the subsidiary are accounted for as equity transactions. The carrying amounts of the equity attributable to owners of the parent and non-controlling interests are adjusted to reflect the changes in their relative interests in the subsidiary. Any difference between the carrying amount of the non-controlling interests and the fair value of the consideration paid or received in the transaction is recognized directly in the equity attributable to the equity holders of the parent.

Subsidiaries are deconsolidated from the date which control ceases. When the Company ceases to have control over a subsidiary, it derecognizes the assets (including any goodwill) and liabilities of the subsidiary at their carrying amounts, derecognizes the carrying amount of non-controlling interests in the former subsidiary and recognizes the fair value of any consideration received from the transaction. Any retained interest in the former subsidiary is then remeasured to its fair value.

All intra-Company balances and transactions, and any unrealized gains and losses arising from intra-Company transactions, are eliminated upon consolidation.

Non-controlling interests represent the portion of profits or losses and net assets not held by the Company. Non-controlling interests are presented separately in the consolidated statements of comprehensive income and in equity in the consolidated statements of financial position separately from Company’s own equity.

Associates:

Equity method investments:

An associate is an entity over which the Company has significant influence. Significant influence is the power to participate in the financial and operating policy decisions of the investee but does not have control or joint control over those decisions.

A joint venture is an arrangement in which the Company has joint control, whereby the Company has rights to the net assets of the arrangement, rather than rights to its assets and obligations for its liabilities.

The investments in associates and joint venture are accounted for using the equity method.

Pursuant to such method, the associates and joint venture are initially recognized at cost, which includes transaction costs and includes goodwill identified on acquisition. Subsequent to initial recognition, the consolidated financial statements include the Company’s share of the profit or loss and OCI of equity-accounted investees, until the date on which significant influence or joint control ceases, and is presented net of any accumulated impairment losses.

The results of operations of the subsidiaries and associates are included in the Company’s consolidated financial statements beginning as of the month following their acquisition and its share of other comprehensive income after acquisition is recognized directly in other comprehensive income.

The Company assesses at each reporting date whether there is objective evidence that investment in associates and joint venture is impaired. If so, the Company calculates the amount of impairment as the difference between the recoverable amount of the associate and its carrying value.

The equity interest in the most significant subsidiaries is as follows:

		Equity interest at December 31
	Country	2024			2025
Subsidiaries:
América Móvil B.V. ^a)	Netherlands		100.0	%		100.0	%
Compañía Dominicana de Teléfonos, S.A. (“Codetel”) ^b)	Dominican Republic		100.0	%		100.0	%
Sercotel, S.A. de C.V. ^a)	Mexico		100.0	%		100.0	%
Radiomóvil Dipsa, S.A. de C.V. and subsidiaries (“Telcel”) ^b)	Mexico		100.0	%		100.0	%
Puerto Rico Telephone Company, Inc. ^b)	Puerto Rico		100.0	%		100.0	%
Servicios de Comunicaciones de Honduras, S.A. de C.V. (“Sercom Honduras”) ^b)	Honduras		100.0	%		100.0	%
Claro S.A. ^b)	Brazil		99.6	%		99.6	%
AMX International Mobile S.A. de C.V.^a)	Mexico		100.0	%		100.0	%
Claro NXT Telecomunicações, S.A.^b)	Brazil		100.0	%		100.0	%
Telecomunicaciones de Guatemala, S.A. (“Telgua”) ^b)	Guatemala		99.3	%		99.3	%
Claro Guatemala, S.A. ^b)	Guatemala		100.0	%		100.0	%
Empresa Nicaragüense de Telecomunicaciones, S.A. (“Enitel”) ^b)	Nicaragua		99.6	%		99.6	%
Compañía de Telecomunicaciones de El Salvador, S.A. de C.V. (“CTE”) ^b)	El Salvador		95.9	%		97.9	%
Comunicación Celular, S.A. (Comcel) ^b)	Colombia		99.4	%		99.4	%
Consorcio Ecuatoriano de Telecomunicaciones, S.A. (“Conecel”) ^b)	Ecuador		100.0	%		100.0	%
AMX Argentina, S.A. ^b)	Argentina		100.0	%		100.0	%
AMX Paraguay, S.A. ^b)	Paraguay		100.0	%		100.0	%
AM Wireless Uruguay, S.A. ^b)	Uruguay		100.0	%		100.0	%
América Móvil Perú, S.A.C ^b)	Peru		100.0	%		100.0	%
Teléfonos de México, S.A.B. de C.V. ^b)	Mexico		100.0	%		100.0	%
Claro Chile, SpA ^b)	Chile		94.9	%		100.0	%
Telekom Austria AG ^b)	Austria		60.6	%		60.9	%
EuroTeleSites AG and subsidiaries ^c)	Austria		57.0	%		57.0	%

a) Holding companies.

b) Operating companies of mobile and fixed services.

c) Operator of wireless telecommunications infrastructure.

(iii) Basis of translation of financial statements of foreign subsidiaries and associated companies

The operating revenues of foreign subsidiaries represent approximately 60%, 61% and 64% of consolidated operating revenues for the years ended December 31, 2023, 2024 and 2025, respectively, and their total assets represent approximately 65% and 65% of consolidated total assets at December 31, 2024 and 2025, respectively.

The financial statements of foreign subsidiaries have been prepared under or converted to IFRS in the respective local currency (which is their functional currency) and then translated into the Company´s reporting currency as follows:

•

all monetary assets and liabilities are translated at the closing exchange rate of the period;

•

all non-monetary assets and liabilities are translated at the closing exchange rate of the period;

•

equity accounts are translated at the exchange rate at the time the capital contributions were made and the profits were generated;

•

revenues, costs and expenses are translated at the average exchange rate of the period, except for the operations of the subsidiaries in Argentina, whose economy is considered hyperinflationary since 2018;

•

the consolidated statements of cash flows presented using the indirect method are translated using the weighted-average exchange rate for the applicable period (except for Argentina), and the resulting difference is shown in the consolidated statements of cash flows under the heading “Adjustment to cash flows due to exchange rate fluctuations, net”.

The difference resulting from the translation process is recognized in equity in the caption “Effect of translation of foreign entities”. At December 31, 2024 and 2025, the cumulative translation adjustment was Ps.(112,295,055) and Ps.(131,343,435), respectively.

The basis of translation for the operations of the subsidiaries in Argentina are described below:

In recent years, Argentina’s economy has shown high rates of inflation. Although inflation data has not been consistent in recent years and several indexes have coexisted, inflation in Argentina indicates that the three-year cumulative inflation rate exceeded 100% in 2018, which is one of the quantitative references established by IAS 29. As a result, Argentina was considered a hyperinflationary economy in 2018 and the Company applies hyperinflation accounting to its subsidiary whose functional currency is the Argentine peso for financial information for periods ending on or after July 1, 2018, however the calculation of the cumulative impact was measured as of January 1, 2018.

In order to restate, for hyperinflation, its financial statements, the subsidiary used the series of indices defined by resolution JG No. 539/18 issued by the “Federación Argentina de Consejos Profesionales de Ciencias Económicas” (“FACPCE”), based on the National Consumer Price Index (“IPC”) published by the Instituto Nacional de Estadística y Censos (“INDEC”) of the Argentine Republic and the Wholesale Internal Price Index (“IPIM”) published by FACPCE. The cumulative index as of December 31, 2025 is 10,087.3921, while the annual inflation for 2025 is 31.5%.

The main implications are as follows:

•

Adjustment of the historical cost of non-monetary assets and liabilities and equity items from their date of acquisition, or the date of inclusion in the consolidated statements of financial position, to the end of the year, in order to reflect changes in the currency’s purchasing power caused by inflation.

•

The gain on the net monetary position caused by the impact of inflation in the year is included in the consolidated statements of comprehensive income as part of the caption “Valuation of derivatives, interest cost from labor obligations and other financial items, net”. Items in the statement of comprehensive income and in the statements of cash flows are adjusted by the inflation index since their origination, with a balancing entry, and a reconciling item in the statements of cash flows, respectively.

•

All items in the financial statements of the Argentine subsidiary are translated at the closing exchange rate, which at December 31, 2024 and 2025 were 0.0196 and 0.0123, respectively, per Argentine peso per Mexican peso.

b) Revenue recognition

The Company revenues are derived principally from providing the following telecommunications services and products: wireless voice, wireless data and value-added services, fixed voice, fixed data, broadband and IT services, Pay TV and OTT services.

The Company provides fixed and mobile services. These services are offered independently in contracts with customers or together with the sale of handsets (mobile phones) under the postpaid model. In accordance with IFRS 15 “Revenues from contracts with customers”, the transaction price should be assigned to the different performance obligations based on their relative standalone selling price.

The Company has market observable information to determine the standalone selling price of the services. On the other hand, in the case of bundled mobile phones sold (including service and handset), the allocation of the transaction price is done based on their relative standalone selling price of each individual component related to the total bundled price.

The services provided by the Company are satisfied over the time of the contract period, given that the customer simultaneously receives and consumes the benefits provided by the Company.

Such service bundles, voice and data, accomplish the criteria mentioned in IFRS 15 of being substantially similar and of having the same transfer pattern which is why the Company concluded that the revenue from these different services offered to its customers are considered as a single performance obligation with revenue being recognized over time, except for sales of equipment.

Under IFRS 15, for those contracts with customers in which generally the sale of equipment and other electronic equipment is the single performance obligation, the Company recognizes the revenue at the moment when it transfers control to the customer which generally occurs when such goods are delivered.

The commissions are considered incremental contract acquisition costs that are capitalized and are amortized over the expected period of benefit, during the average duration of customer contracts.

Some subsidiaries have loyalty programs where the Company awards credits to customers referred as “points”. The customer can redeem accrued “points” for awards such as devices, accessories or airtime. The Company provides all awards. The award credits give rise to a performance obligation for which consideration is allocated; the corresponding liability of the award credits is measured at its fair value. The consideration allocated to award credits amount is recognized as a contract liability until the points are redeemed. Revenue is recognized upon redemption of products and services by the customer.

c) Cost of sales of equipment

The cost of mobile equipment and tablets is recognized at the time the client or distributor receive the device which is when the control is transferred to the customer.

d) Cost of services

The cost of services represents the costs incurred to properly deliver the services to the customers, it includes the network operating costs and license related costs and is accounted for at the moment in which such services are provided.

e) Commissions to distributors

The Company pays commissions to its network of distributors primarily to acquire and retain customers for the Company. Such commissions are recognized in “commercial, administrative and general expenses” in the consolidated statements of comprehensive income at the time in which the distributor either reports an activation or reaches certain number of lines activated or obtained at a certain point of time.

f) Cash and cash equivalents

Cash and cash equivalents represent bank deposits and liquid investments with maturities of less than three months. These amounts are stated at cost plus accrued interest, which is similar to their fair value.

The Company also maintains restricted cash held as collateral to meet certain contractual obligations. As restricted cash the Company includes the judicial deposits that are presented as part of “Other assets, net” within non-current assets given that the restrictions are long-term in nature. See Note 9.

g) Equity investments at fair value through OCI and other short/long-term investments

Equity investments at fair value through OCI and other short-term investments are primarily composed of equity investments and other short-term financial investments. Amounts are initially recorded at their estimated fair value. Fair value adjustments for equity investments are recorded through other comprehensive income, and other short-term investment.

h) Inventories

Inventories are initially recognized at historical cost and are valued using the average cost method without exceeding their net realizable value.

The estimate of the realizable value of inventories on-hand is based on their age and turnover.

i) Business combinations and goodwill

Business combinations are accounted for using the acquisition method, which in accordance with IFRS 3, “Business combinations”, consists in general terms as follows:

(i)	Identify the acquirer;

(ii)	Determine the acquisition date;

(iii)

Value the acquired identifiable assets and assumed liabilities; and

(iv)	Recognize the goodwill or a bargain purchase gain.

For acquired subsidiaries, goodwill represents the difference between the purchase price and the fair value of the net assets acquired at the acquisition date. The investment in acquired associates includes goodwill identified on acquisition, net of any impairment loss.

Goodwill is reviewed annually to determine its recoverability or more often if circumstances indicate that the carrying value of the goodwill might not be fully recoverable.

The possible loss of value in goodwill is determined by analyzing the recovery value of the cash generating unit (or the group thereof) to which the goodwill is associated at the time it was originated. If this recoverable amount is lower than the carrying value, an impairment loss is charged to the results of operations. The recoverable amount is determined based on the higher of fair value less cost of disposal or value in use.

For the years ended December 31, 2023, 2024 and 2025, no impairment losses were recognized for goodwill.

j) Property, plant and equipment

(i) Property, plant and equipment are recorded at acquisition cost, net of accumulated depreciation; except for the passive infrastructure of telecommunications towers, which are recognized under the revaluation model. Depreciation is computed on the cost of assets using the straight-line method, based on the estimated useful lives of the related assets, beginning the month after they become available for use.

Borrowing costs that are incurred for general financing for construction in progress for a substantial period of time are capitalized as part of the cost of the asset. During the years ended December 31, 2023, 2024 and 2025, borrowing costs that were capitalized amounted to Ps.1,442,077, Ps.1,622,958 and Ps.1,569,608, respectively. See Note 10.

In addition to the purchase price and costs directly attributable to preparing an asset in terms of its physical location and condition for operating as intended by management, when required, the cost also includes the estimated costs of dismantling and removal of the asset and for restoration of the site where it is located. See Note 16c.

The passive infrastructure of telecommunications towers is recorded at revalued value, which is its fair value at the time of revaluation less accumulated depreciation; if there is any loss or impairment, it must also be considered within its value. The revaluations are calculated with sufficient regularity to ensure that the book value, every time, does not differ significantly from that which could be determined using the fair value at the end of the reporting period.

The increase resulting from a revaluation is recorded in other comprehensive income (OCI) and is accumulated in equity as a revaluation surplus. To the extent that there is a decrease in revaluation, it is recognized in profit or loss, except to the extent that it compensates for an existing surplus on the same asset.

An annual transfer of the asset revaluation surplus and accumulated earnings is made to the extent that the asset is used, therefore, the surplus is equal to the difference between the depreciation calculated on the revalued value and the one calculated according to its original cost. These transfers do not record in the results for the period. A total transfer of the surplus may be made when the entity disposes of the asset.

(ii) The net book value of property, plant and equipment is removed from the consolidated statements of financial position at the time the asset is sold or when no future economic benefits are expected from its use or sale. Any gains or losses on the sale of property, plant and equipment represent the difference between net proceeds of the sale and the net book value of the item at the time of sale, that are recognized as either other operating income or other operating expenses upon sale.

(iii) The Company periodically assesses the residual values, useful lives and depreciation methods associated with its property, plant and equipment. If necessary, the effects of any changes in accounting estimates is recognized prospectively, at the closing of each period, in accordance with IAS 8, “Accounting Policies, Changes in Accounting Estimates and Errors”.

For property, plant and equipment made up of several components with different useful lives, the major individual components are depreciated over their individual useful lives. Maintenance costs and repairs are expensed as incurred.

Annual depreciation rates are as follows:

Network infrastructure	5%-33	%
Buildings and leasehold improvement	2%-33	%
Other assets	10%-50	%

(iv) The carrying value of property, plant and equipment is reviewed annually if there are indicators of impairment in such assets. If an asset’s recovery value is less than the asset’s net carrying value, the difference is recognized as an impairment loss.

During the years ended December 31, 2023, 2024 and 2025, no impairment losses were recognized.

(v) Spare parts for network operation are recognized at cost.

The inventory of spare parts for network operation is not depreciated since its useful life starts once brought into service. When the spare parts are considered obsolete, defective or slow-moving, an impairment loss is recognized based on their estimated net realizable value. The estimate of the recovery value of spare parts inventories is based on their age and turnover.

k) Intangibles

(i) Licenses

Licenses to operate wireless telecommunications networks granted by the governments of the countries in which the Company operates are recorded at acquisition cost or at fair value at their acquisition date, net of accumulated amortization. Certain licenses require payments to the governments, such payments are recognized in the cost of service and equipment.

The licenses that in accordance with government requirements are categorized as automatically renewable, for a nominal cost and with substantially consistent terms, are considered by the Company as intangible assets with an indefinite useful life. Accordingly, they are not amortized. Licenses are amortized when the Company does not have a basis to conclude that they are indefinite lived. Other licenses are amortized using the straight-line method over a period ranging from 3 to 30 years, which represents the usage period of the assets.

The Company has conducted an internal analysis on the applicability of the International Financial Reporting Interpretation Committee (“IFRIC”) No. 12 (Service Concession Agreements) and has concluded that its concessions are outside the scope of IFRIC 12. To determine the applicability of IFRIC 12, the Company analyzes each concession or group of similar concessions in a given jurisdiction. As a threshold matter, the Company identifies those government concessions that provide for the development, financing, operation or maintenance of infrastructure used to render a public service, and that set out performance standards, mechanisms for adjusting prices and arrangements for arbitrating disputes.

With respect to those services, the Company evaluates whether the grantor controls or regulates (i) what services the operator must provide, (ii) to whom it must provide them and (iii) the applicable price (the “Services Criterion”). In evaluating whether the applicable government, as grantor, controls the price at which the Company provides its services, the Company looks at the terms of the concession agreement according to all applicable regulations. If the Company determines that the concession under analysis meets the Services Criterion, then the Company evaluates whether the grantor would hold a significant residual interest in the concession’s infrastructure at the end of the term of the arrangement.

(ii) Trademarks

Trademarks acquired are measured on initial recognition at cost. The cost of trademarks acquired in a business combination is their fair value at the date of acquisition. The useful lives of trademarks are assessed as either definite or indefinite. Trademarks with finite useful lives are amortized using the straight-line method over a period ranging from 5 to 10 years. The assessment of indefinite life is reviewed annually to determine whether the indefinite life continues to be supportable, if not, the change in useful life from indefinite to definite is made on a prospective basis.

The carrying values of the Company’s licenses and trademarks are reviewed annually and whenever there are indicators of impairment in the value of such assets. When an asset’s recoverable amount, which is the higher of the asset’s fair value, less disposal costs and its value in use (the present value of future cash flows), is less than the asset’s carrying value, the difference is recognized as an impairment loss.

(iii) Irrevocable rights of use (“IRUs”), software licenses and content rights

Irrevocable rights of use, software licenses and content rights are recognized according to the amount paid for the right and are amortized over the period in which they are granted.

(iv) Customer relationships

The value of customer relations is determined and valued at the time that a new subsidiary is acquired, as determined by the Company with the assistance of independent appraisers and is amortized over a 5-year period.

During the years ended December 31, 2023, 2024 and 2025, no significant impairment losses were recognized for licenses, trademarks, irrevocable rights of use or customer relationships.

l) Impairment in the value of long-lived assets

The Company assesses the existence of indicators of impairment in the carrying value of long-lived assets, goodwill and intangible assets according to IAS 36 “Impairment of assets”. When there are such indicators, or in the case of assets whose nature requires an annual impairment analysis (goodwill and intangible assets with indefinite useful lives), the Company estimates the recoverable amount of the asset, which is the higher of its fair value, less disposal costs, and its value in use. Value in use is determined by discounting estimated future cash flows, applying a pre-tax discount rate that reflects the time value of money and taking into consideration the specific risks associated with the asset. When the recoverable amount of an asset is below its carrying value, impairment is considered to exist. In this case, the carrying value of the asset is reduced to the asset’s recoverable amount, recognizing the loss in results of operations for the respective period. Depreciation and/or amortization expense of future periods is adjusted based on the new carrying value determined for the asset over the asset’s remaining useful life. Impairment is computed individually for each asset. Recoverable amount is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of those from other assets or group of assets.

In the estimation of impairments, the Company uses the strategic plans established for the separate cash-generating units to which the assets are assigned. Such strategic plans generally cover a period from 3 to 5 years. For longer periods, beginning in the fifth year, projections are based on such strategic plans while applying a constant or declining expected perpetual growth rate.

Key assumptions used in value in use calculations

The forecasts are made in real terms (net of inflation) and in the functional currency of the subsidiary as of December 31, 2025. Financial forecasts, premises and assumptions are similar to what any other market participant in similar conditions would consider.

Local synergies, that any other market participant would not have taken into consideration to prepare similar forecasted financial information, have not been included.

The assumptions used to develop the financial forecasts were validated for each of the cash generating units (“CGUs”), typically identified by country and by service (in the case of Mexico fixed and mobile) taking into consideration the following:

•

Current subscribers and expected growth;

•

Type of subscribers (prepaid, postpaid, fixed line, multiple services);

•

Market environment and penetration expectations;

•

New products and services;

•

Economic environment of each country;

•

Expenses for maintaining the current assets;

•

Investments in technology for expanding the current assets; and

•

Market consolidation and synergies.

The foregoing forecasts could differ from the results obtained through time; however, the Company prepares its estimates based on the current situation of each of the CGUs.

The recoverable amounts are based on value in use. The value in use is determined based on the method of discounted cash flows. The key assumptions used in projecting cash flows are:

•

Margin on EBITDA is determined by dividing EBITDA (operating income plus depreciation and amortization) by total revenues.

•

Margin on CAPEX is determined by dividing capital expenditures (“CAPEX”) by total revenues.

•

Post-tax weighted average cost of capital (“WACC”) is used to discount the projected cash flows.

As discount rate, the Company uses the WACC which was determined for each of the cash generating units and is described in the following paragraphs.

The estimated discount rates to perform the IAS 36 “Impairment of assets”, impairment test for each CGU consider market participants assumptions. Market participants were selected taking into consideration size, operations and characteristics of the business that were similar to those of Company. These discount rates do not include inflation.

The discount rates represent the current market assessment of the risks specific to each CGU, taking into consideration the time value of money and individual risks of the underlying assets that have not been incorporated in the cash flow estimates. The discount rate calculation is based on the specific circumstances of the Company and its operating segments. The WACC takes into account both debt and equity costs. The cost of equity is derived from the expected return on investment for each CGU. The cost of debt is based on the interest-bearing borrowings the Company is obliged to service. Segment-specific risk is incorporated by applying individual beta factors.

The beta factors are evaluated annually based on publicly available market data.

Market participant assumptions are important because, not only do they include industry data for growth rates, but also management assesses how the CGU’s position, relative to its competitors, might change over the forecasted period.

The most significant forward-looking estimates used for the 2024 and 2025 impairment evaluations are shown below:

	Average margin on EBITDA			Average margin on CAPEX			Average pre-tax discount rate (WACC)
2024:
Europe (7 countries)		35.05% - 43.18	%		2.83% - 18.57	%		4.88% - 27.16	%
Brazil (fixed line, wireless and TV)		44.75	%		16.97	%		8.11	%
Puerto Rico		24.41	%		8.67	%		4.38	%
Dominican Republic		53.64	%		14.13	%		9.51	%
Mexico (fixed line and wireless)		37.31	%		9.35	%		8.36	%
Ecuador		49.66	%		13.95	%		15.72	%
Peru		39.33	%		10.41	%		8.28	%
El Salvador		46.37	%		13.42	%		13.35	%
Colombia		42.25	%		17.31	%		7.24	%
Other countries		28.02% - 52.47	%		11.48% - 22.35	%		7.22% - 24.06	%

2025:
Europe (7 countries)	35.52% - 43.18	%	2.74% - 18.19	%	5.43% - 28.18	%
Brazil (fixed line, wireless and TV)	44.78	%	16.33	%	7.80	%
Puerto Rico	24.12	%	8.41	%	5.53	%
Dominican Republic	53.60	%	13.28	%	10.16	%
Mexico (fixed line and wireless)	36.97	%	9.21	%	8.22	%
Ecuador	49.90	%	19.33	%	16.99	%
Peru	39.64	%	10.25	%	8.58	%
El Salvador	47.51	%	9.90	%	13.26	%
Colombia	42.17	%	14.70	%	7.47	%
Other countries	28.42% - 52.75	%	8.73% - 21.83	%	8.27% - 15.51	%

Sensitivity to changes in assumptions:

The implications of the key assumptions for the recoverable amount are discussed below:

Margin on CAPEX- The Company performed a sensitivity analysis by increasing its CAPEX by 5% and maintaining all other assumptions the same, results without impairment.

WACC- Additionally, should the Company increase by 50 base points in WACC per CGU and maintain all other assumptions the same. without impairment.

m) Right-of-use assets

The Company applies a single recognition and measurement approach for all leases, except for short-term leases and leases of low-value assets. The Company recognizes lease liabilities to make lease payments and right-of-use assets representing the right to use the underlying assets.

(i)	Right-of-use assets

The Company recognizes right-of-use assets at the commencement date of the lease (i.e., the date the underlying asset is available for use). Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any remeasurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities recognized, initial direct costs incurred, and lease payments made at or before the commencement date less any lease incentives received. Right-of-use assets are depreciated on a straight-line basis over the shorter of the lease term and the estimated useful lives of the assets, as follows:

Assets	Useful life
Towers and sites	2 to 24 years
Property	2 to 24 years
Other equipment	2 to 20 years

The right-of-use assets are also subject to impairment test.

(ii)	Lease liabilities.

At the commencement date of the lease, the Company recognizes the lease liabilities measured at the present value of the lease payments to be made over the lease term. Lease payments include fixed payments (including in-substance fixed payments) less any lease incentives receivable, variable lease payments that depend on an index or rate, and amounts expected to be paid under residual value guarantees. The lease payments also include payments of penalties for early termination of the lease, if the term of the lease reflects that the Company exercises the option to terminate early. The variable lease payments that do not depend on an index or a rate are recognized as an expense in the period on which the event or condition that triggers the payment occurs.

In calculating the present value of the lease payments, the Company generally uses an interest rate implicit at the lease commencement date. After the commencement date, the amount of lease liabilities is increased to reflect the accretion of interest and reduced for the lease payments made. In addition, the carrying amount of the lease liabilities is remeasured if there is a modification, a change in the lease term, a change in the in-substance fixed payments or change in the assessment to purchase the underlying asset.

(iii)

Short-term leases and leases of low value assets.

The Company applies the short-term lease recognition exemption for its leases of machinery and equipment (i.e., those leases that have a lease term of 12 months or less from the commencement date and do not contain a purchase option). It also applies the recognition exemption lease of low-value assets (that is, below US$ 5,000). Short-term lease payments and leases of low-value assets are recognized as expenses on straight-line basis over the lease term.

n) Financial assets and liabilities

Financial assets

Initial recognition and measurement

Financial assets are classified, at initial recognition, as subsequently measured at amortized cost, fair value through OCI, and fair value through profit or loss.

The classification of financial assets at initial recognition depends on the financial asset’s contractual cash flow characteristics and the Company’s business model for managing them, with the exception of trade receivables that do not contain a significant financing component or for which the Company has applied the practical expedient, the Company initially measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss, transaction costs.

Subsequent measurement

For purposes of subsequent measurement, financial assets are classified in four categories:

•

Financial assets at amortized cost (debt instruments);

•

Financial assets at fair value through OCI with recycling of cumulative gains and losses (debt instruments);

•

Financial assets designated at fair value through OCI with no recycling of cumulative gains and losses upon derecognition (equity instruments); and

•

Financial assets at fair value through profit or loss.

Financial assets at amortized cost (debt instruments)

The Company measures financial assets at amortized cost if both of the following conditions are met:

•

The financial asset is held within a business model with the objective to hold financial assets in order to collect contractual cash flows; and

•

The contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

Financial assets at amortized cost are subsequently measured using the effective interest (“EIR”) method and are subject to impairment. Gains and losses are recognized in profit or loss when the asset is derecognized, modified or impaired.

The Company’s financial assets at amortized cost includes cash equivalents and receivables.

Financial assets at fair value through OCI with recycling of cumulative gains and losses (debt instruments)

The Company measures debt instruments at fair value through OCI if both of the following conditions are met:

•

The financial asset is held within a business model with the objective of both holding to collect contractual cash flows and selling; and

•

The contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

For debt instruments at fair value through OCI, interest income, foreign exchange revaluation and impairment losses or reversals are recognized in the statements of profit or loss and computed in the same manner as for financial assets measured at amortized cost. The remaining fair value changes are recognized in OCI. Upon derecognition, the cumulative fair value change recognized in OCI is recycled to cumulative profit or loss.

Financial assets designated at fair value through OCI with no recycling of cumulative gains and losses upon derecognition (equity instruments)

Upon initial recognition, the Company can elect to classify irrevocably its equity investments as equity instruments designated at fair value through OCI when they meet the definition of equity under IAS 32 Financial Instruments: Presentation, and are not held for trading. The classification is determined on an instrument by instrument basis. More details of these investments are disclosed in Note 4 to the accompanying consolidated financial statements.

Gains and losses on these financial assets are never recycled to profit or loss. Dividends are recognized as other income in the consolidated statements of comprehensive income when the right of payment has been established, except when the Company benefits from such proceeds as a recovery of part of the cost of the financial asset, in which case, such gains are recorded in OCI. Equity instruments designated at fair value through OCI are not subject to impairment assessment.

Financial assets at fair value through profit or loss

Financial assets at fair value through profit or loss include financial assets held for trading, financial assets designated upon initial recognition at fair value through profit or loss, or financial assets mandatorily required to be measured at fair value. Financial assets are classified as held for trading if they are acquired for the purpose of selling or repurchasing in the near term. Derivatives, including separated embedded derivatives, are also classified as held for trading unless they are designated as effective hedging instruments. Financial assets with cash flows that are not solely payments of principal and interest are classified and measured at fair value through profit or loss, irrespective of the business model. Notwithstanding the criteria for debt instruments to be classified at amortized cost or at fair value through OCI, as described above, debt instruments may be designated at fair value through profit or loss on initial recognition if doing so eliminates, or significantly reduces, an accounting mismatch.

Financial assets at fair value through profit or loss are carried in the statements of financial position at fair value with net changes in fair value recognized in the consolidated statements of comprehensive income within “Valuation of derivatives, interest cost from labor obligations and other financial items”.

Derecognition of financial assets

A financial asset is primarily derecognized when:

•

The rights to receive cash flows from the asset have expired, or

•

The Company has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay the received cash flows in full without material delay to a third party under a ‘pass-through’ arrangement; and either (a) the Company has transferred substantially all the risks and rewards of the asset, or (b) the Company has neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred control of the asset.

When the Company has transferred its rights to receive cash flows from an asset or has entered into a passthrough arrangement, it evaluates if, and to what extent, it has retained the risks and rewards of ownership. When it has neither transferred nor retained substantially all the risks and rewards of the asset, nor transferred control of the asset, the Company continues to recognize the transferred asset to the extent of its continued involvement. In that case, the Company also recognizes an associated liability. The transferred asset and the associated liability are measured on a basis that reflects the rights and obligations that the Company has retained.

Impairment of financial assets

The Company recognizes an allowance for expected credit losses (“ECLs”) for all debt instruments not held at fair value through profit or loss. ECLs are based on the difference between the contractual cash flows due in accordance with the contract and all the cash flows that the Company expects to receive, discounted at an approximation of the original effective interest rate. The expected cash flows will include cash flows from the sale of collateral held or other credit enhancements that are integral to the contractual terms.

ECLs are recognized in two stages. For credit exposures for which there has not been a significant increase in credit risk since initial recognition, ECLs are provided for credit losses that result from default events that are possible within the next 12-months (a 12-month ECL). For those credit exposures for which there has been a significant increase in credit risk since initial recognition, a loss allowance is required for credit losses expected over the remaining life of the exposure, irrespective of the timing of the default (a lifetime ECL).

For some trade receivables and contract assets based on available information, the Company applies the simplified approach in calculating ECLs. Therefore, the Company does not track changes in credit risk, but instead recognizes a loss allowance based on lifetime ECLs at each reporting date. The Company has established a loss rate approach that is based on its historical credit loss experience, adjusted for forward-looking factors specific to the debtors and the economic environment.

Financial liabilities

Initial recognition

Financial liabilities are classified, at initial recognition, as financial liabilities at fair value through profit or loss, loans and borrowings, payables, or as derivatives designated as hedging instruments in an effective hedge, as appropriate.

All financial liabilities are recognized initially at fair value and, in the case of loans and borrowings and payables, net of directly attributable transaction costs.

The Company’s financial liabilities include trade and other payables, loans and borrowings including bank overdrafts, and derivative financial instruments.

Subsequent measurement

The measurement of financial liabilities depends on their classification, as described below:

Financial liabilities at fair value through profit or loss include financial liabilities held for trading and financial liabilities designated upon initial recognition as at fair value through profit or loss.

Financial liabilities are classified as held for trading if they are incurred for the purpose of repurchasing in the near term. This category also includes derivative financial instruments entered into by the Company that are not designated as hedging instruments in hedge relationships as defined by IFRS 9. Separated embedded derivatives are also classified as held for trading unless they are designated as effective hedging instruments.

Gains or losses on liabilities held for trading are recognized in the statements of profit or loss.

Financial liabilities designated upon initial recognition at fair value through profit or loss are designated at the initial date of recognition, and only if the criteria in IFRS 9 are satisfied. The Company has not designated any financial liability as at fair value through profit or loss.

Loans and borrowings

After initial recognition, interest-bearing loans and borrowings are subsequently measured at amortized cost using the EIR method. Gains and losses are recognized in profit or loss when the liabilities are derecognized as well as through the EIR amortization process.

Amortized cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of the EIR. The EIR amortization is included as finance costs in the statements of profit or loss.

Derecognition of financial liabilities

A financial liability is derecognized when the obligation under the liability is discharged, cancelled or expires. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition of a new liability. The difference in the respective carrying amounts is recognized in the consolidated statements of comprehensive income.

Offsetting of financial instruments

Financial assets and financial liabilities are offset and the net amount is reported in the consolidated statements of financial position if there is a currently enforceable legal right to offset the recognized amounts and there is an intention to settle on a net basis, to realize the assets and settle the liabilities simultaneously.

o) Transactions in foreign currency

Transactions in foreign currency are initially recorded at the prevailing exchange rate at the time of the related transactions. Foreign currency denominated assets and liabilities are subsequently translated at the prevailing exchange rate at the financial statements reporting date. Exchange differences determined from the transaction date to the time foreign currency denominated assets and liabilities are settled or translated at the financial statements reporting date are charged or credited to the results of operations.

In determining the spot exchange rate to use on initial recognition of the related asset, expense or income (or part of it) on the derecognition of a non-monetary asset or non-monetary liability relating to advance consideration, the date of the transaction is the date on which the Company initially recognizes the non-monetary asset or non-monetary liability arising from the advance consideration. If there are multiple payments or receipts in advance, the Company determines the transaction date for each payment or receipt of advance consideration.

The exchange rates used for the translation of foreign currencies against the Mexican peso are as follows:

		Average exchange rate						Closing exchange rate at December 31,
Country or Zone	Currency	2023		2024		2025		2024		2025
Argentina⁽¹⁾	Argentine Peso (AR$)		0.0680		0.0200		0.0158		0.0196		0.0123
Brazil	Real (R$)		3.5545		3.3963		3.4394		3.2731		3.2652
Colombia	Colombian Peso (COP$)		0.0041		0.0045		0.0047		0.0046		0.0048
Guatemala	Quetzal		2.2675		2.3597		2.5041		2.6301		2.3441
U.S.A. ⁽²⁾	US Dollar		17.7617		18.3045		19.2337		20.2683		17.9667
Uruguay	Uruguay Peso		0.4574		0.4548		0.4679		0.4600		0.4602
Nicaragua	Cordoba		0.4875		0.4998		0.5252		0.5534		0.4906
Honduras	Lempira		0.7184		0.7341		0.7379		0.7948		0.6779
Chile	Chilean Peso (CLP$)		0.0212		0.0194		0.0202		0.0203		0.0198
Paraguay	Guaraní		0.0024		0.0024		0.0026		0.0026		0.0027
Peru	Sol (PEN$)		4.7394		4.8721		5.3814		5.3762		5.3345
Dominican Republic	Dominican Peso		0.3163		0.3069		0.3107		0.3301		0.2821
Costa Rica	Colon		0.0324		0.0353		0.0380		0.0395		0.0358
European Union	Euro		19.2047		19.8011		21.6940		20.9939		21.0929
Bulgaria	Lev		9.8189		10.1235		11.0907		10.7262		10.7817
Belarus	New Belarusian Ruble		6.4630		6.6606		6.4023		7.3751		6.1897
Croatia	Croatian Kuna		2.5487		2.6279		2.8791		2.7864		2.7996
Macedonia	Macedonian Denar		0.3119		0.3215		0.3522		0.3423		0.3427
Serbia	Serbian Denar		0.1638		0.1691		0.1851		0.1794		0.1798

(1)	Year-end rates are used for the translation of revenues and expenses if IAS 29 “Financial Reporting in Hyperinflationary Economies” is applied.

(2)	Currency also used in Ecuador, El Salvador and Puerto Rico.

In December 2023, a new Argentine administration took office and called for new economic framework calling for liberalization of economic policy. This caused a major devaluation of the country’s currency, with the Argentine peso losing nearly 60% of its value vis-á-vis the U.S. dollar in December alone.

In addition, as of December 31, 2024 and 2025, Argentina experienced an appreciation of its currency of 6.2% and 37.0% year-to-date against the Mexican peso, respectively, therefore, this matter is considered within the consolidated foreign currency exchange gain (loss) as of the date of the consolidated statement of comprehensive income.

Financial reporting in hyperinflationary economies

Financial statements of Argentina subsidiaries are restated before translation to the reporting currency of the Company and before consolidation in order to reflect the same value of money for all items. Items recognized in the statements of financial position which are not measured at the applicable year-end measuring unit are restated based on the general price index. All non-monetary items measured at cost or amortized cost is restated for the changes in the general price index from the date of transaction or the last hyperinflationary calculation to the reporting date. Monetary items are not restated. All items of shareholders’ equity are restated for the changes in the general price index since their addition or the last hyperinflationary calculation until the end of the reporting period. All items of comprehensive income are restated for the change in a general price index from the date of initial recognition to the reporting date. Gains and losses resulting from the net-position of monetary items are reported in the consolidated statements of operations in financial result in “Valuation of derivatives, interest cost from labor obligations and other financial items, net”. In accordance with IFRS, prior year financial statements were not restated.

As of April 23, 2026, the exchange rate between the U.S. dollar and the Mexican peso was Ps. 17.3323. The appreciation of the Mexican peso against the US dollar represent 3.50% with respect to the year-end value.

p) Accounts payable, accrued liabilities and provisions

Liabilities are recognized whenever (i) the Company has current obligations (legal or assumed) resulting from a past event, (ii) when it is probable the obligation will give rise to a future cash disbursement for its settlement, and (iii) the amount of the obligation can be reasonably estimated.

When the effect of the time value of money is significant, the amount of the liability is determined as the present value of the expected disbursements to settle the obligation. The discount rate is determined on a pre-tax basis and reflects current market conditions at the financial statements reporting date and, where appropriate, the risks specific to the liability. Where discounting is used, an increase in the liability is recognized as finance expense.

Contingent liabilities are recognized only when it is probable, they will give rise to a future cash disbursement for their settlement.

q) Employee benefits

The Company has defined benefit pension plans for its subsidiaries Puerto Rico Telephone Company, Telmex, Claro S.A., and Telekom Austria. Claro S.A. also has medical plans and defined contribution plans and Telekom Austria provides retirement benefits to its employees under a defined contribution plan. The Company recognizes the costs of these plans based upon independent actuarial computations and are determined using the projected unit credit method. The latest actuarial computations were prepared as of December 31, 2025.

Mexico

Mexican subsidiaries have the obligation to pay seniority premiums to personnel based on the Mexican Federal Labor Law which also establishes the obligation to make certain payments to personnel who cease to provide services under certain circumstances. Pensions (for Telmex) and seniority premiums are determined based on the salary of employees in their final year of service, the number of years worked at and their age at the moment of retirement.

The costs of pensions, seniority premiums and severance benefits, are recognized based on calculations by independent actuaries using the projected unit credit method using financial hypotheses, net of inflation.

Telmex has established an irrevocable trust fund and makes annual contributions to that fund.

Puerto Rico

In Puerto Rico, the Company has noncontributing pension plans for full-time employees, which are tax qualified as they meet Employee Retirement Income Security Act of 1974 requirements.

The pension benefit is composed of two elements:

(i) An employee receives an annuity at retirement if they meet the rule of 85 (age at retirement plus accumulated years of service). The annuity is calculated by applying a percentage times year of services to the last three years of salary.

(ii) The second element is a lump-sum benefit based on years of service ranging from 9 to 12 months of salary. Health care and life insurance benefits are also provided to retirees under a separate plan (post-retirement benefits).

Brazil

Claro S.A. provides a defined benefit plan and post-retirement medical assistance plan, and a defined contribution plan, through a pension fund that supplements the government retirement benefit for certain employees.

Under the defined benefit plan, the Company makes monthly contributions to the pension fund equal to 17.5% of the employee’s aggregate salary. In addition, the Company contributes a percentage of the aggregate salary base for funding the post-retirement medical assistance plan for the employees who remain in the defined benefit plan. Each employee makes contributions to the pension fund based on age and salary. All newly hired employees automatically adhere to the defined contribution plan and no further admittance to the defined benefit plan is allowed. For the defined contribution plan. See Note 18.

Austria

Telekom Austria provides retirement benefits to its employees under defined contribution and defined benefit plans.

The Company pays contributions to publicly or privately administered pension or severance insurance plans on mandatory or contractual basis. Once the contributions have been paid, the Company has no further payment obligations. The regular contributions are recognized as employee expenses in the year in which they are due.

All other employee benefit obligations provided in Austria are unfunded defined benefit plans for which the Company records provisions which are calculated using the projected unit credit method. The future benefit obligations are measured using actuarial methods on the basis of an appropriate assessment of the discount rate, rate of employee turnover, rate of compensation increase and rate of increase in pensions.

For severance and pensions, the subsidiary recognizes actuarial gains and losses in other comprehensive income. The re-measurement of defined benefit plans relates to actuarial gains and losses only as Telekom Austria holds no plan assets. Interest expense related to employee benefit obligations is reported in “Valuation of derivatives, interests cost from labor obligation and other financial items, net” in the statements of comprehensive income.

Other subsidiaries

For the rest of the Company’s subsidiaries, there are no defined benefit plans or compulsory defined contribution structures. However, certain subsidiaries make contributions to national pension, social security and severance plans in accordance with the percentages and rates established by the applicable social security and labor laws of each country. Such contributions are made to the entities designated by the countries legislation and are recorded as direct labor expenses in the consolidated statements of comprehensive income as they are incurred.

Remeasurements of defined benefit plans, comprising of actuarial gains and losses, the effect of the asset ceiling, excluding net interest and the return on plan assets (excluding net interest), are recognized immediately in the consolidated statements of financial position with a corresponding debit or credit to “Remeasurement of defined benefit plan” through OCI in the period in which they occur. Re-measurements are not reclassified to profit or loss in subsequent periods.

Past service costs are recognized in profit or loss on the earlier of:

i.	The date of the plan amendment or curtailment; and

ii.	The date that the Company recognizes restructuring-related costs.

Net interest on liability for defined benefits is calculated by applying the discount rate to the net defined benefit liability or asset and it is recognized in the “Valuation of derivatives, interest cost from labor obligations and other financial items” in the consolidated statements of comprehensive income. The Company recognizes the changes in the net defined benefit obligation under “Cost of sales and services” and “Commercial, administrative and general expenses” in the consolidated statements of comprehensive income.

Paid absences

The Company recognizes a provision for the cost of paid absences, such as vacation time, based on the accrual method.

r) Employee profit sharing (“PTU”, for its acronym in Spanish)

PTU is paid by certain subsidiaries of the Company to its eligible employees. The Company has employee profit sharing in Mexico, Ecuador and Peru. In Mexico, employee profit sharing is computed at the rate of 10% on the individual subsidiaries taxable base adjusted for employee profit sharing purposes as provided by law.

Employee profit sharing is presented as commercial, administrative and general expenses in the consolidated statements of comprehensive income.

The amendment to the Federal Labor Law in Mexico dated April 23, 2021 established a limit on the amount to be paid for profit sharing to employees, which indicates that the amount of PTU payable to each employee may not exceed the equivalent of three months of the employee’s current salary, or the average PTU received by the employee in the previous three years, whichever is greater. If the PTU determined is less than or equal to this limit, the PTU will be determined by applying 10% of the individual company taxable income. If the PTU determined exceeds this limit, the limit would apply and this should be considered the PTU for the period.

s) Taxes

Income taxes

Current income tax payable is presented as a current liability, net of prepayments made during the year.

Deferred income tax is determined using the liability method based on the temporary differences between the tax values of the assets and liabilities and their book values at the consolidated financial statements reporting date.

Deferred tax assets and liabilities are measured using the tax rates that are expected to be in effect in the period when the asset will materialize or the liability will be settled, based on the enacted tax rates (and tax legislation) that have been enacted or substantially enacted at the financial statements reporting date. The value of deferred tax assets is reviewed by the Company at each financial statement reporting date and is reduced to the extent that it is more likely that the Company will not have sufficient future tax profits to allow for the realization of all or a part of its deferred tax assets. Unrecognized deferred tax assets are reevaluated at each financial statement reporting date and are recognized when it is more likely that there will be sufficient future tax profits to allow for the realization of these assets.

Deferred taxes relating to items recognized in Other Comprehensive Income are recognized in the same component that originated those deferred taxes. Deferred taxes consequence on unremitted earnings from subsidiaries and associates are considered as temporary differences, when the timing of the reversal of the temporary differences can be controlled and it is probable that the temporary differences will not reverse in the foreseeable future. Taxes withheld on remitted foreign earnings are creditable against Mexican taxes, thus to the extent that a remittance is to be made, the deferred tax would be limited to the incremental difference between the Mexican tax rate and the rate of the remitting country. As of December 31, 2024 and 2025, the Company has not provided for any deferred taxes related to unremitted foreign earnings.

The Company offsets tax assets and liabilities if it has a legally enforceable right to set off current tax assets and current tax liabilities and the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same tax authority.

Sales tax

Revenues, expenses and assets are recognized net of the amount of sales tax, except:

•

When the sales tax incurred on a purchase of assets or services is not recoverable from the taxation authority, in which case, the sales tax is recognized as part of the cost of acquisition of the asset or as part of the expense item, as applicable.

•

Receivables and payables that are stated with the amount of sales tax included.

The net amount of sales tax recoverable from, or payable to, the tax authorities is included as part of the current receivables or payables in the consolidated statements of financial position unless they are due in more than a year in which case they are classified as non-current.

Uncertainty over income tax treatments

The acceptability of a particular tax treatment under tax law may not be known until the tax authority or courts of justice reach a decision in the future. Consequently, a dispute or inspection of a specific tax treatment by the tax authority could affect the accounting of the asset or liability for current or deferred taxes by the Company.

In accordance with IFRIC 23 Uncertainty over Income Tax Treatments, the Company determines each uncertain tax treatment based on the approach that best predicts the resolution of the uncertainty.

To determine the approach that best predicts the resolution of the uncertainty, the Company may consider, for example:

(a) How does the Company prepare their income tax return and support such tax treatments and how it sustains the tax treatments.

(b) How does the Company expect that the tax authority carry-out its inspection and resolve the issues that arise from the aforementioned inspection.

The Company must disclose in the notes to the consolidated financial statements what is mentioned below:

1) The Company must determine whether the uncertain tax treatments will be evaluated separately or as a whole;

2) The Company will assume that the authority will examine the tax situation and will be aware of considering all information relevant to said treatment;

3) If it is concluded that it is unlikely that the authority will accept an uncertain fiscal position, the effect of the uncertainty will be reflected when determining its accounting fiscal position, estimating the effect based on the following methods:

a) Most probable quantity – is the only quantity in a range of possible outcomes that can be predicted by the resolution of the uncertainty; or,

b) Expected value – is the value resulting from the sum of the different amounts weighted by their probability of occurrence, in a range of possible results. The expected value is the one that can best predict the resolution of the uncertainty, if there is a range of possible outcomes.

4) If the uncertain tax treatment affects the tax base for tax (caused) and deferred tax, the Company must make consistent judgments and estimates in the determination of both taxes; and

5) The Company must reassess a judgment or estimate of an uncertain tax treatment and its effects, if the facts and circumstances on which they were initially based change, or if new information arises that affects the judgment or estimate. ´

The effects should be recognized as a change in an accounting estimate based on the provision of IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors.

t) Advertising

Advertising expenses are recognized as incurred. For the years ended December 31, 2023, 2024 and 2025, advertising expenses were Ps.11,781,250, Ps.12,670,214 and Ps.14,789,656 respectively, and are presented in the consolidated statements of comprehensive income in the caption “Commercial, administrative and general expenses”.

u) Earnings per share

Basic and diluted earnings per share are determined by dividing net profit of the year attributable to equity holders of the parent by the weighted-average number of shares outstanding during the year. In determining the weighted average number of outstanding shares, shares repurchased by the Company have been excluded.

v) Financial risks

The main risks associated with the Company’s financial instruments are: (i) liquidity risk, (ii) market risk (foreign currency exchange risk and interest rate risk) and (iii) credit risk and counterparty risk. The Board of Directors approves the policies submitted by management to mitigate these risks.

(i) Liquidity risk

Liquidity risk is the risk that the Company may not meet its financial obligations associated with financial instruments when they are due. The Company’s financial obligations and commitments are included in Notes 14 and 17.

(ii) Market risk

The Company is exposed to certain market risks derived from changes in interest rates and fluctuations in exchange rates of foreign currencies. The Company’s debt is denominated in foreign currencies, mainly in US dollars and euros, other than its functional currency. In order to reduce the risks related to fluctuations in the exchange rate of foreign currency, the Company uses derivative financial instruments such as cross-currency swaps and forwards to adjust exposures resulting from foreign exchange currency. The Company does not use derivatives to hedge the exchange risk arising from having operations in different countries.

Additionally, the Company occasionally uses interest rate swaps to adjust its exposure to the variability of the interest rates or to reduce their financing costs. The Company’s practices vary from time to time depending on judgments about the level of risk, expectations of change in the movements of interest rates and the costs of using derivatives. The Company may terminate or modify a derivative financial instrument at any time. See Note 7 for disclosure of the fair value of derivatives as of December 31, 2024 and 2025.

(iii) Credit risk

Credit risk represents the loss that could be recognized in case the counterparties fail to comply with their contractual obligations.

The financial instruments that potentially represent concentrations of credit risk are cash and short-term deposits, accounts receivable from subscribers and distributors and financial instruments related to debt and derivatives. The Company’s policy is designed in order to limit its exposure to any one financial institution; therefore, the Company’s financial instruments are contracted with several different financial institutions located in different geographic regions.

The credit risk in accounts receivable is diversified because the Company has a broad customer base that is geographically dispersed. The Company continuously evaluates the credit conditions of its customers and generally does not require collateral to guarantee collection of its accounts receivable. The Company monitors on a monthly basis its collection cycle to avoid deterioration of its results of operations.

A portion of the Company’s cash surplus is invested in short- term deposits with financial institutions with high credit ratings.

(iv) Sensitivity analysis for market risks

The Company uses sensitivity analysis to measure the potential losses based on a theoretical increase of 100 basis points in interest rates and a 5% fluctuation in exchange rates:

Interest rate

In the event that the Company’s agreed-upon interest rates at December 31, 2024 and 2025 increase or decrease by 100 basis points, and assuming fluctuations of 6.9% and 8.4%, respectively, in the exchange rate between the Mexican Peso and US Dollar, the net interest expense would increase by Ps.3,115,447 and Ps.5,002,241, respectively, or (decrease) by Ps.(11,720,132) and Ps.(6,599,338), respectively.

Exchange rate fluctuations

If the Company’s debt at December 31, 2024 and 2025 of Ps.567,585,631 and Ps.524,906,860, respectively, were to be impacted by a 5% increase/(decrease) in exchange rates, the debt would increase/(decrease) to Ps.595,964,966 and Ps.551,152,203, respectively; or Ps.(539,206,398) and Ps.(498,661,517), respectively.

w) Derivative financial instruments

Derivative financial instruments are recognized in the consolidated statements of financial position at fair value. The fair value determined by the Company is compared against the fair value calculated by financial institutions with which the agreements are entered into. In addition, it is the Company’s policy to compare such fair values with a valuation provided by an independent pricing provider in case of discrepancies. Changes in the fair value of derivatives that do not qualify as hedging instruments are recognized immediately in the line “Valuation of derivatives, interest cost from labor obligations and other financial items, net”.

The Company is exposed to interest rate and foreign currency risks, which it tries to mitigate through a controlled risk management program that includes the use of derivative financial instruments. The Company principally uses to attempt to offset the risk of exchange rate and interest rate fluctuations. The effective portion of gains or losses on the cash flow derivatives is recognized in OCI under the heading “Unrealized (loss) gain on equity investment at fair value”, and the ineffective portion is charged to results of operations of the period.

x) Current versus non-current classification

The Company presents assets and liabilities in its consolidated statements of financial position based on current/non-current classification.

An asset is current when it is either:

(i)	Expected to be realized or intended to be sold or consumed in the normal operating cycle.

(ii)	Held primarily for the purpose of trading.

(iii)

Expected to be realized within twelve months after the reporting period.

(iv)	Cash and cash equivalents unless restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period.

A liability is current when:

(i)	It is expected to be settled in the normal operating cycle.

(ii)	It is held primarily for the purpose of trading.

(iii)

It is due to be settled within twelve months after the reporting period.

(iv)	There is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting period.

The Company classifies all other assets and liabilities, including deferred income tax assets and liabilities, as non-current.

y) Presentation of consolidated statements of comprehensive income

The costs and expenses shown in the consolidated statements of comprehensive income are presented in combined manner (based on both their function and nature), which allows a better understanding of the components of the Company’s operating income. This classification allows a comparison to the telecommunications industry.

The Company presents operating income in its consolidated statements of comprehensive income since it is a key indicator of the Company’s performance. Operating income represents operating revenues less operating costs and expenses.

z) Operating segments

Segment information is presented based on information used by management in its decision-making processes. Segment information is presented based on the geographic areas in which the Company operates.

The Chief Operating Decision Maker (“CODM”) is responsible for making decisions regarding the resources to be allocated to the Company’s different segments, as well as evaluating the performance of each segment. Intersegment revenues and costs, intercompany balances as well as investments in shares in consolidated entities are eliminated upon consolidation and reflected in the “eliminations” column in Note 23.

No individual segment generated revenue from transactions with a single external customer amounting to 10% or more of the revenues.

Aa) Convenience translation

The consolidated financial statements are stated in thousands of Mexican pesos (“Ps.”); however, solely for the convenience of the readers, the consolidated statement of financial position as of December 31, 2024 and the consolidated statement of comprehensive income and consolidated statement of cash flows for the year ended December 31, 2025 were converted into U.S. dollars at the exchange rate of Ps.17.9667 per U.S. dollar, which was the exchange rate at that date. This arithmetic conversion should not be construed as representations that the amounts expressed in Mexican pesos may be converted into U.S. dollars at that or any other exchange rate.

Ab) Significant accounting judgments, estimates and assumptions

In preparing its consolidated financial statements, the Company makes estimates concerning a variety of matters. Some of these matters are highly uncertain, and its estimates involve judgments it makes based on the available information. In the discussion below, the Company has identified several of these matters for which its financial statements would be materially affected if either (1) the Company uses different estimates that it could have reasonably used or (2) in the future the Company changes its estimates in response to changes that are reasonably likely to occur.

The following discussion addresses only those estimates that the Company considers most important based on the degree of uncertainty and the likelihood of a material impact had it used a different estimate. There are many other areas in which the Company uses estimates about uncertain matters, but the reasonably likely effect of changed or different estimates is not material to the financial presentation for those other areas.

Estimated useful lives of property, plant and equipment

The Company currently depreciates most of its network infrastructure based on an estimated useful life determined upon the expected particular conditions of operation and maintenance in each of the countries in which it operates. The estimates are based on the Company’s historical experience with similar assets, anticipated technological changes and other factors, taking into account the practices of other telecommunications companies. The Company reviews estimated useful lives each year to determine, for each particular class of assets, whether they should be changed. The Company may shorten/extend the estimated useful life of an asset class in response to technological changes, changes in the market or other developments. This results in increased/decreased depreciation expense. See Note 10.

Revaluation of passive infrastructure of telecommunications towers

The Company recognizes the passive infrastructure of the telecommunication towers at fair value, recognizing the changes in OCI. The discounted cash flow model was used. The Company hired a valuation specialist with industry experience to measure fair values as of December 31, 2025.

Impairment of Long-Lived Assets

The Company has large amounts of long-lived assets, including property, plant and equipment, intangible assets, and goodwill on its consolidated statements of financial position. The Company is required to test long-lived assets for impairment when circumstances indicate a potential impairment or, in some cases, at least on an annual basis. The impairment analysis for long-lived assets requires the Company to estimate the recoverable amount of the asset, which is the higher of its fair value (minus any disposal costs) and its value in use. To estimate the fair value of a long-lived asset, the Company typically takes into account recent market transactions or, if no such transactions can be identified, the Company uses a valuation model that requires making certain assumptions and estimates. Similarly, to estimate the value in use of long-lived assets, the Company typically makes various assumptions about the future prospects for the business to which the asset relates, considers market factors specific to that business and estimates future cash flows to be generated by that business. Based on this impairment analysis, including all assumptions and estimates related thereto, as well as guidance provided by IFRS relating to the impairment of long-lived assets different assumptions and estimates could materially impact the Company’s reported financial results. More conservative assumptions of the anticipated future benefits from these businesses could result in impairment charges, which would decrease net income and result in lower asset values in the consolidated statements of financial position. Conversely, less conservative assumptions could result in smaller or no impairment charges, higher net income and higher asset values. The key assumptions used to determine the recoverable amount for the Company’s CGUs, are further explained in Note 2 l).

Deferred Income Taxes

The Company is required to estimate its income taxes in each of the jurisdictions in which it operates. This process involves the jurisdiction-by-jurisdiction estimation of actual current tax exposure and the assessment of temporary differences resulting from the differing treatment of certain items, such as provisions and amortization, for tax and financial reporting purposes, as well as net operating loss carry-forwards and other tax credits. These items result in deferred tax assets and liabilities as discussed in Note 2 s). The analysis is based on estimates of taxable income in the jurisdictions in which the Company operates and the period on which the deferred tax assets and liabilities will be recovered or settled. If actual results differ from these estimates, or the Company adjusts these estimates in future periods, its financial position and results of operations may be materially affected.

In assessing the future realization of deferred tax assets, the Company considers future taxable income, ongoing planning strategies and future results in its operations. In the event that the estimates of projected future taxable income are lowered, or changes in current tax regulations are enacted that would impose restrictions on the timing or extent of the ability to utilize the tax benefits of net operating loss carry-forwards in the future, an adjustment to the recorded amount of deferred tax assets would be made, with a related charge to income. See Note 13.

Provisions

Provisions are recorded when, at the end of the period, the Company has a present obligation as a result of past events, whose settlement requires an outflow of resources that is considered probable and can be measured reliably. This obligation may be legal or constructive, arising from, but not limited to, regulation, contracts, common practice or public commitments, which have created a valid expectation for third parties that the Company will assume certain responsibilities. The amount recorded is the best estimation performed by the Company’s management in respect of the disbursement that will be required to settle the obligations, considering all the information available at the date of the consolidated financial statements, including the opinion of external experts, such as legal advisors or consultants. Provisions are adjusted to account for changes in circumstances for ongoing matters and the establishment of additional provisions for new matters.

If the Company is unable to reliably measure the obligation, no provision is recorded, and information is then presented in the notes to its consolidated financial statements. Because of the inherent uncertainties in these estimations, actual expenditures may be different from the originally estimated amount recognized. See Note 16.

The Company is subject to various claims and contingencies related to tax, labor and legal proceedings as described in Note 17 b).

Labor Obligations

The Company recognizes liabilities on its consolidated statements of financial position and expenses in its statements of comprehensive income to reflect its obligations related to its post-retirement seniority premiums, pension and retirement plans in the countries in which it operates and offer defined contribution and benefit pension plans. The amounts the Company recognizes are determined on an actuarial basis that involves estimations and accounts for post-retirement and termination benefits.

The Company uses estimates in four specific areas that have a significant effect on these amounts: (i) the rate of return the Company assumes its pension plans will earn on its investments, (ii) the salaries increase rate that the Company assumes it will observe in future years, (iii) the discount rates that the Company uses to calculate the present value of its future obligations and (iv) the expected inflation rate. The assumptions applied are further disclosed in Note 18. These estimates are determined based on actuarial studies performed by independent experts using the projected unit-credit method.

Cash and cash equivalents	12 Months Ended
Cash and cash equivalents	Dec. 31, 2025
Cash and cash equivalents [Abstract]
Cash and cash equivalents	Note 3. Cash and cash equivalents Cash and cash equivalents are comprised of short-term deposits with different financial institutions. Cash equivalents only include instruments with purchased maturity of less than three months. The amount includes the amount deposited, plus any interest earned.

Equity and Debt Investments at Fair Value Through OCI and Other Short/Long-Term Investments	12 Months Ended
	Dec. 31, 2025
Equity and debt investments at fair value through OCI and other short/long-term investments [Abstract]
Equity and debt investments at fair value through OCI and other short/long-term investments	Note 4. Equity and debt investments at fair value through OCI and other short/long-term investments As of December 31, 2024 and 2025, equity investments at fair value through OCI and other short-term investments includes an equity investment in Verizon for Ps. 46,683,687 and Ps. 42,148,211, respectively. As of December 31, 2025, includes an equity investment in BT Group for Ps. 281,803. As these investments are not held for trading, the Company has elected to designate them as equity instruments at fair value through OCI. The investments in Verizon and others, are carried at fair value with changes in fair value being recognized through other comprehensive income. As of December 31, 2024 and 2025, the Company has recognized in equity changes in fair value of Ps. 3,485,814 and Ps. (1,639,179) respectively, net of deferred taxes. See Note 21. During the years ended December 31, 2023 and 2024, the Company has recognized an income related to the earn-out stipulated in the Verizon’s contract, of Ps. 2,206,671 and Ps. 14,856, respectively, which are included within “Valuation of derivatives, interest cost from labor obligations, and other financial items, net” in the consolidated statements of comprehensive income. See Note 22. During the years ended December 31, 2023, 2024 and 2025, the Company recognized dividend income from Verizon for an amount of Ps. 2,684,643, Ps. 2,895,815 and Ps. 3,015,648 respectively, and from Koninklijke KPN N.V. (hereinafter, KPN) for an amount of Ps.1,867,184 and Ps.(116,677) during the years ended December 31, 2023 and 2024, respectively. These amounts are included within “Valuation of derivatives, interest cost from labor obligations, and other financial items, net” in the consolidated statements of comprehensive income. See Note 22. As of December 31, 2024 and 2025 long-term debt instruments at fair value through OCI for Ps. 13,908,873 and Ps. 18,086,886, respectively.

Accounts receivable from subscribers, distributors, recoverable taxes contractual assets and other, net

12 Months Ended

Dec. 31, 2025

Accounts receivable from subscribers, distributors, recoverable taxes contractual assets and other net [Abstract]

Accounts receivable from subscribers, distributors, recoverable taxes contractual assets and other, net

Note 5. Accounts receivable from subscribers, distributors, recoverable taxes contractual assets and other, net

a) An analysis of accounts receivable by component at December 31, 2024 and 2025 is as follows:

	At December 31,
	2024				2025
Subscribers and distributors		Ps.	170,242,307			Ps.	182,388,253
Telecommunications carriers for network interconnection and other services			3,837,362				3,370,949
Recoverable taxes			50,900,914				65,502,829
Sundry debtors			11,838,770				10,858,187
Contract assets			31,230,793				32,499,007
Allowance of expected credit losses			(37,533,735	)			(39,858,127	)
Total net		Ps.	230,516,411			Ps.	254,761,098
Non-current subscribers, distributors and contractual assets			9,394,158				13,379,712
Total current subscribers, distributors and contractual assets		Ps.	221,122,253			Ps.	241,381,386

b) Changes in the allowance of the expected credit losses is as follows:

	For the years ended December 31,
	2023				2024				2025
Balance at beginning of year		Ps.	(42,079,056	)		Ps.	(38,194,997	)		Ps.	(37,533,735	)
Increases recorded in expenses			(12,021,598	)			(11,927,258	)			(12,611,219	)
Write-offs			11,392,722				16,239,505				9,095,970
Business Combination			-				(148,359	)			-
Spin-off (i)			(3,002	)			-				-
Translation effect			4,515,937				(3,502,626	)			1,190,857
Balance at year end		Ps.	(38,194,997	)		Ps.	(37,533,735	)		Ps.	(39,858,127	)

(i)

This figure is related to the spin-off of Telekom Austria AG.

c) The following table shows the aging of accounts receivable at December 31, 2024 and 2025, for subscribers and distributors:

Past due

Total

Unbilled services

provided

1-30 days

31-60 days

61-90 days

Greater

than

90 days

December 31, 2024

Ps.

170,242,307

Ps.

105,263,369

Ps.

15,396,655

Ps.

4,182,294

Ps.

2,854,922

Ps.

42,545,067

December 31, 2025

Ps.

182,388,253

Ps.

120,355,292

Ps.

13,511,830

Ps.

4,700,102

Ps.

3,340,840

Ps.

40,480,189

d) The following table shows the accounts receivable from subscribers and distributors included in the allowance for expected credit losses:

Total

1-90 days

Greater than

90 days

December 31, 2024

Ps.

37,533,735

Ps.

4,050,387

Ps.

33,483,348

December 31, 2025

Ps.

39,858,127

Ps.

4,082,617

Ps.

35,775,510

e) An analysis of contract assets at December 31, 2024 and 2025 is as follows:

	2024				2025

Balance at the beginning of the year		Ps.	25,062,219			Ps.	31,230,793
Additions			24,862,129				29,610,794
Business combination			2,347,803				-
Disposals			(4,195,512	)			(4,556,746	)
Amortization			(20,622,228	)			(22,227,773	)
Translation effect			3,776,382				(1,558,061	)

Balance at the end of the year		Ps.	31,230,793			Ps.	32,499,007
Non-current contract assets		Ps.	1,558,104			Ps.	1,108,043

Current portion contracts assets		Ps.	29,672,689			Ps.	31,390,964

Related parties

12 Months Ended

Dec. 31, 2025

Related parties [Abstract]

Related parties

Note 6. Related parties

a) The following is an analysis of the balances with related parties as of December 31, 2024 and 2025. All of the companies were considered affiliates of América Móvil since the Company’s principal shareholders are either direct or indirect shareholders in the related parties.

	2024		2025
Accounts receivable:
Sears Roebuck de México, S.A. de C.V. and Subsidiaries	Ps.	374,745	Ps.	323,991
Sitios Latinoamérica, S.A.B. de C.V.		191,515		139,329
Sanborns Hermanos, S.A.		253,211		267,318
Patrimonial Inbursa, S.A.		184,549		234,596
Grupo Condumex, S.A. de C.V. and Subsidiaries		40,773		47,580
Telesites, S.A.B. de C.V. and Subsidiaries		117,204		106,392
Claroshop.com, S.A.P.I de C.V.		57,092		10,917
Carso Infraestructura y Construcción, S.A. de C.V.		9,763		9,565
Other		166,631		108,254
Total	Ps.	1,395,483	Ps.	1,247,942

Accounts payable:
Carso Infraestructura y Construcción, S.A. de C.V. and Subsidiaries	Ps.	1,361,945	Ps.	693,025
Grupo Condumex, S.A. de C.V. and Subsidiaries		148,996		138,405
Sitios Latinoamérica, S.A.B. de C.V.		601,438		664,496
Fianzas Guardiana Inbursa, S.A. de C.V.		444,085		459,188
Claroshop.com, S.A.P.I de C.V.		82,617		78,016
Grupo Financiero Inbursa, S.A.B. de C.V.		151,564		152,102
Seguros Inbursa, S.A. de C.V.		114,998		206,605
Industrial Afiliada, S.A. de C.V.		310,140		250,529
Banco Inbursa, S.A.		23,300		4,180
Promotora Inbursa, S.A. de C.V.		51,758		8,478
Cicsa Perú, S.A.C.		123,364		306,449
Sofom Inbursa, S.A. de C.V., Sofom, E.R		1,287		23,280
Other		286,468		278,862
Total	Ps.	3,701,960	Ps.	3,263,615

For the years ended December 31, 2023, 2024 and 2025, the Company has not recorded any impairment of receivables in connection with amounts owed by related parties.

b) For the years ended December 31, 2023, 2024 and 2025, the Company conducted the following transactions with related parties:

	2023		2024		2025
Capital expenditures and expenses:
Construction services, purchases of materials, inventories and property, plant and equipment ⁽ⁱ⁾	Ps.	10,499,209	Ps.	13,621,729	Ps.	11,015,657
Insurance premiums, fees paid for administrative and operating services, brokerage services and others ⁽ⁱⁱ⁾		4,911,513		5,012,046		5,178,174
Associated costs for towers sale ⁽ⁱⁱⁱ⁾		1,751,405		-		-
Rent of towers		937,763		864,912		605,281
Other services		1,903,476		1,586,583		1,756,554
	Ps.	20,003,366	Ps.	21,085,270	Ps.	18,555,666

Revenues:
Service revenues^(iv)	Ps.	1,153,877	Ps.	1,270,286	Ps.	1,142,356
Sales of towers^(v)		8,546,615		523,547		-
Sales of equipment		2,225,521		1,514,397		1,007,871
	Ps.	11,926,013	Ps.	3,308,230	Ps.	2,150,227

i)	In 2025, this amount includes Ps.8,163,525 (Ps.11,057,693 in 2024 and Ps.7,720,624 in 2023) for network construction services and construction materials purchased from subsidiaries of Grupo Carso, S.A.B. de C.V. (Grupo Carso).

ii)

In 2025, this amount mainly includes Ps.4,322,991 (Ps.4,170,478 in 2024 and Ps.3,460,518 in 2023) for insurance premiums with Seguros Inbursa S.A. and Fianzas Guardiana Inbursa, S.A., which, in turn, places most of such insurance with reinsurers; as well as Ps.19,969 in 2025 (Ps.117,939 in 2024 and Ps.69,248 in 2023) for network maintenance services performed by Grupo Carso subsidiaries.

iii)	In 2023, this amount includes Ps.855,427 of the cost related to the sales of towers by Compañía Dominicana de Teléfonos, S.A.; Ps.880,542 of the cost related to the sales of towers by América Móvil Perú, S.A.C.; and Ps.15,435 of the cost related to the sales of towers by Telmex.

iv)	In 2025, this amount includes Ps.1,042,628 (Ps.1,171,375 in 2024 and Ps.995,831 in 2023) of the total revenue, provided by Telmex.

v)	In 2024, this amount includes Ps.523,547 (Ps.1,010,500 in 2023) for sales of towers by Telmex. In 2023, includes Ps.2,695,790 for sales of towers by Compañía Dominicana de Teléfonos, S.A.; and Ps.4,840,325 for sales of towers by América Móvil Perú, S.A.C.

c) The aggregate compensation paid to the Company’s directors (including compensation paid to members of the Audit and Corporate Practices Committee) for 2023, 2024 and 2025 amounted to approximately Ps. 6,244, Ps.6,495 and Ps.7,192, respectively. Compensation paid to senior management for 2023, 2024 and 2025 amounted to approximately Ps.98,280, Ps.103,912 and Ps.111,457, respectively. None of the Company’s directors is a party to any contract with the Company or any of its subsidiaries that provides for benefits upon termination of employment. The Company does not provide pension, retirement or similar benefits to its directors in their capacity as directors. The Company’s executive officers are eligible for retirement and severance benefits required by Mexican law on the same terms as all other employees.

d) Österreichische Beteiligungs AG (ÖBAG) is considered a related party due to it is a significant non-controlling shareholder in Telekom Austria. Through Telekom Austria, América Móvil is related to the Republic of Austria and its subsidiaries, which are mainly ÖBB Group, ASFINAG Group and Post Group as well as Rundfunk und Telekom Reguliegungs-GmbH, all of which these are related parties. In 2023, 2024 and 2025, none of the individual transactions associated with government agencies or government-owned entities of Austria were considered significant to América Móvil.

Derivative financial instruments

12 Months Ended

Dec. 31, 2025

Derivative financial instruments [Abstract]

Derivative financial instruments

Note 7. Derivative financial instruments

In an attempt to mitigate the risks of future increases in interest rates and foreign exchange rates for the servicing of its debt, the Company has entered into derivative contracts in over-the-counter transactions carried out with financial institutions. In 2025 the weighted-average interest rate of the total debt including the impact of interest rate derivatives held by the Company is 5.7% (5.8% and 5.6% in 2024 and 2023, respectively).

An analysis of the derivative financial instruments contracted by the Company at December 31, 2024 and 2025 is as follows:

	At December 31,
	2024				2025
Instrument	Notional amount in millions		Fair Value		Notional amount in millions		Fair Value
Assets:
XCS US Dollar – Mexican Peso	US$	2,700	Ps.	8,538,837	US$	1,700	Ps.	1,891,249
XCS Mexican Peso – US Dollar		-		-	MXN$	2,018		249,617
XCS US Dollar – Euro	US$	800		582,620		-		-
XCS US Dollar – Chilean Peso	US$	400		1,529,257		-		-
Interest Rate Swaps US Dollar – Chilean Peso	US$	392		5,373		-		-
Interest Rate Swaps Chilean Peso – US Dollar	CLP$	306,554		12,372		-		-
Forwards Brazilian Real – US Dollar		-		-	R$	5,843		159,834
Forwards Euro – US Dollar		-		-	€	681		116,310
Total Assets			Ps.	10,668,460			Ps.	2,417,009

	At December 31,
	2024							2025
Instrument	Notional amount in millions			Fair Value				Notional amount in millions			Fair Value
Liabilities:
XCS US Dollar – Mexican Peso		US$	2,190		Ps.	(4,076,647	)		US$	3,190		Ps.	(4,314,948	)
XCS Mexican Peso – US Dollar		MXN$	8,094			(254,549	)			-			-
XCS US Dollar – Euro		US$	150			(158,661	)		US$	950			(1,038,355	)
XCS Yen – US Dollar		¥	13,000			(493,179	)		¥	13,000			(617,460	)
XCS Pound Sterling – Euro		£	640			(1,259,750	)		£	640			(1,685,044	)
XCS Pound Sterling – US Dollar		£	1,560			(11,184,561	)		£	1,560			(7,543,817	)
XCS Euro – US Dollar		€	802			(2,793,689	)		€	802			(858,748	)
Interest Rate Swaps US Dollar – Chilean Peso		US$	385			(19,872	)		US$	385			(27,862	)
Interest Rate Swaps Chilean Peso – US Dollar		CLP$	384,948			(12,613	)		CLP$	306,554			(26,305	)
Forwards US Dollar – Mexican Peso			-			-			US$	100			(12,620	)
Forwards Brazilian Real – US Dollar		R$	6,155			(1,401,460	)			-			-
Forwards Euro – US Dollar		€	1,036			(530,728	)		€	108			(7,023	)
Total Liabilities					Ps.	(22,185,709	)					Ps.	(16,132,182	)

*Totals may not sum due to rounding

**XCS stands for Cross Currency Swaps

The changes in the fair value of these derivative financial instruments for the years ended December 31, 2023, 2024 and 2025 were equivalent to a loss of Ps.(10,268,520), Ps.(2,141,802) and Ps.(697,393), respectively. Such amounts are included in the consolidated statements of comprehensive income as part of the caption “Valuation of derivatives interest cost from labor obligations and other financial items, net”. See Note 22.

The maturities of the notional amount of the derivatives are as follows:

Instrument	Notional amount in millions		2026		2027		2028		2029		2030 Thereafter
Assets
XCS US Dollar – Mexican Peso		US$		-		-		-		1,000		700
XCS Mexican Peso – US Dollar		MXN$		-		-		-		2,018		-
Forwards Brazilian Real – US Dollar		R$		5,843		-		-		-		-
Forwards Euro – US Dollar		€		681		-		-		-		-

Liabilities
XCS US Dollar – Mexican Peso		US$		-		-		-		-		3,190
XCS US Dollar - Euro		US$		-		-		-		-		950
XCS Euro – US Dollar		€		-		402		400		-		-
XCS Yen – US Dollar		¥		-		-		-		-		13,000
XCS Sterling Pound – Euro		£		390		-		-		-		250
XCS Sterling Pound – US Dollar		£		110		-		-		-		1,450
Interest Rate Swaps US Dollar – Chilean Peso		US$		385		-		-		-		-
Interest Rate Swaps Chilean Peso – US Dollar		CLP$		306,554		-		-		-		-
Forwards Euro – US Dollar		€		108		-		-		-		-
Forwards US Dollar – Mexican Peso		US$		100		-		-		-		-

Inventories, net

12 Months Ended

Dec. 31, 2025

Inventories, net [Abstract]

Inventories, net

Note 8. Inventories, net

An analysis of inventories at December 31, 2024 and 2025 is as follows:

	2024			2025
Mobile phones, accessories, computers, TVs, cards and other materials	Ps.	26,361,417		Ps.	30,270,083
Reserve for obsolete and slow-moving inventories		(2,609,960	)		(1,963,458	)
Total	Ps.	23,751,457		Ps.	28,306,625

For the years ended December 31, 2023, 2024 and 2025, the cost of inventories recognized in cost of sales of equipment was Ps. 111,863,425, Ps. 111,659,973 and Ps. 122,895,496 respectively.

Other assets, net

12 Months Ended

Dec. 31, 2025

Other assets, net [Abstract]

Other assets, net

Note 9. Other assets, net

An analysis of other assets at December 31, 2024 and 2025 is as follows:

	2024		2025
Current portion:
Advances to suppliers (different from CAPEX and inventories)	Ps.	10,909,652	Ps.	11,836,747
Prepaid insurance		1,544,998		1,253,738
Frequency usage licenses to be amortized		595,861		795,829
Other		373,884		496,769
Total	Ps.	13,424,395	Ps.	14,383,083

Non-current portion:
Recoverable taxes	Ps.	19,489,256	Ps.	24,102,461
Prepayments for the use of fiber optics		2,920,851		1,887,279
Judicial deposits⁽¹⁾		15,021,270		17,238,060
Prepaid expenses		10,775,412		14,584,953
Total	Ps.	48,206,789	Ps.	57,812,753

For the years ended December 31, 2023, 2024 and 2025, amortization expense for other assets was Ps. 848,569, Ps. 566,236 and Ps. 474,663, respectively.

⁽¹⁾ Judicial deposits represent cash and cash equivalents pledged in order to fulfill the collateral requirements for tax contingencies in Brazil. Based on its evaluation of the underlying contingencies, the Company believes that such amounts are recoverable. See Note 17 b).

Property, Plant and Equipment, net

12 Months Ended

Dec. 31, 2025

Property, Plant and Equipment, net [Abstract]

Property, Plant and Equipment, net

Note 10. Property, Plant and Equipment, net

a) An analysis of activity in property, plant and equipment, net for the years ended December 31, 2023, 2024 and 2025 is as follows:

Cost:	At December 31, 2022			Additions		Retirements ⁽²⁾⁽³⁾			Revaluation adjustments⁽⁴⁾			Transfer			Effect of translation of foreign subsidiaries and hyperinflation adjustment ⁽⁵⁾			Depreciation for the year			At December 31, 2023
Network in operation and equipment	Ps.	1,026,018,942		Ps.	50,024,889	Ps.	(33,329,584	)	Ps.	(6,302,540	)	Ps.	70,929,358		Ps.	(147,930,373	)	Ps.	—		Ps.	959,410,692
Land and buildings		43,754,276			460,406		(623,086	)		—			912,321			(4,104,367	)		—			40,399,550
Other assets		145,240,123			9,207,577		(4,659,627	)		—			91,200			(9,019,160	)		—			140,860,113
Construction in process and advances plant suppliers⁽¹⁾		59,819,638			60,315,693		(3,541,460	)		—			(52,383,308	)		(3,391,855	)		—			60,818,708
Spare parts for operation of the network		42,358,475			24,598,463		(4,512,380	)		—			(23,748,569	)		(6,821,235	)		—			31,874,754
Total		1,317,191,454			144,607,028		(46,666,137	)		(6,302,540	)		(4,198,998	)		(171,266,990	)		—			1,233,363,817

Accumulated depreciation:
Network in operation and equipment	Ps.	(565,890,076	)	Ps.	—	Ps.	32,420,796		Ps.	907,756		Ps.	(106,646	)	Ps.	109,318,572		Ps.	(89,594,858	)	Ps.	(512,944,456	)
Buildings		(8,399,608	)		—		503,192			—			63,923			2,739,797			(1,697,581	)		(6,790,277	)
Other assets		(85,574,405	)		—		3,094,804			—			(139,191	)		7,960,435			(10,516,865	)		(85,175,222	)
Spare parts for the operation of the network		(101,155	)		—		55,866			—			12,152			400,001			(169,822	)		197,042
Total	Ps.	(659,965,244	)	Ps.	—	Ps.	36,074,658		Ps.	907,756		Ps.	(169,762	)	Ps.	120,418,805		Ps.	(101,979,126	)	Ps.	(604,712,913	)
Net Cost	Ps.	657,226,210		Ps.	144,607,028	Ps.	(10,591,479	)	Ps.	(5,394,784	)	Ps.	(4,368,760	)	Ps.	(50,848,185	)	Ps.	(101,979,126	)	Ps.	628,650,904

(1)

The construction in progress includes fixed and mobile network installations, as well as satellite developments and fiber optic which are in the process of being installed.

(2)

Includes retirements for the sale of 2,980 and 224 telecommunications towers on March 30 and July 31, 2023, respectively, owned by its subsidiary in Peru to Sitios Latam.

(3)

It includes disposals related to the sale of 1,388 telecommunications towers on February 3, 2023, owned by its subsidiary in the Dominican Republic to Sitios Latam.

(4)

Includes the surplus associated with the telecommunications towers that were transferred by the sale to Sitios Latam, described previously, for an amount of Ps.(6,957,275). In addition, includes the surplus associated with the valuation of the telecommunications towers of EuroTeleSites AG and subsidiaries, for an amount of Ps.1,562,491.

(5)

Includes a hyperinflation adjustment associated to Argentinean subsidiaries for an amount of Ps.(5,956,256).

Cost	At December 31 2023			Additions		Retirements			Business combinations ⁽⁴⁾		Revaluation adjustments⁽²⁾		Transfer			Effect of translation of foreign subsidiaries and hyperinflation adjustment⁽³⁾			Depreciation for the year			At December 31,2024
Network in operation and equipment	Ps.	959,410,692		Ps.	42,823,075	Ps.	(29,154,250	)	Ps.	22,800,844	Ps.	1,290,655	Ps.	64,489,657		Ps.	120,602,682		Ps.	—		Ps.	1,182,263,355
Land and buildings		40,399,550			161,317		(147,047	)		396,315		—		3,074,956			3,771,664			—			47,656,755
Other assets		140,860,113			9,230,523		(9,270,502	)		1,669,061		—		1,302,049			5,534,769			—			149,326,013
Construction in process and advances plant suppliers⁽¹⁾		60,818,708			53,618,806		(4,040,469	)		6,099,339		—		(51,567,114	)		3,449,438			—			68,378,708
Spare parts for operation of the network		31,874,754			22,053,172		(5,990,202	)		2,798,554		—		(21,635,003	)		2,037,343			—			31,138,618
Total	Ps.	1,233,363,817		Ps.	127,886,893	Ps.	(48,602,470	)	Ps.	33,764,113	Ps.	1,290,655	Ps.	(4,335,455	)	Ps.	135,395,896		Ps.	—		Ps.	1,478,763,449

Accumulated depreciation
Network in operation and equipment	Ps.	(512,944,456	)	Ps.	—	Ps.	24,555,371		Ps.	—	Ps.	869,822	Ps.	1,115,687		Ps.	(78,164,080	)	Ps.	(99,606,465	)	Ps.	(664,174,121	)
Buildings		(6,790,277	)		—		104,005			—		—		(1,564,790	)		(2,695,078	)		(1,907,221	)		(12,853,361	)
Other assets		(85,175,222	)		—		8,868,467			—		—		542,377			(2,176,603	)		(9,835,660	)		(87,776,641	)
Spare parts for the operation of the network		197,042			—		87,481			—		—		(316,998	)		(195,647	)		53,225			(174,897	)
Total	Ps.	(604,712,913	)	Ps.	—	Ps.	33,615,324		Ps.	—	Ps.	869,822	Ps.	(223,724	)	Ps.	(83,231,408	)	Ps.	(111,296,121	)	Ps.	(764,979,020	)
Net Cost	Ps.	628,650,904		Ps.	127,886,893	Ps.	(14,987,146	)	Ps.	33,764,113	Ps.	2,160,477	Ps.	(4,559,179	)	Ps.	52,164,488		Ps.	(111,296,121	)	Ps.	713,784,429

(1)

Construction in progress includes fixed and mobile network installations as well as satellite developments and fiber optic which are in the process of being installed.

(2)

Includes the surplus associated with the valuation of the telecommunications towers of EuroTeleSites AG and subsidiaries, for an amount of Ps.2,160,477.

(3)

Includes a hyperinflation adjustment associated to Argentinean subsidiaries for an amount of Ps.25,160,101.

(4)

“Business combination” includes the acquisition of NTT Austria GmbH (now A1 ICT Austria), in Austria and Claro Chile, SpA, in Chile. See Note 12 a.

Cost	At December 31 2024			Additions		Retirements			Business combinations ⁽⁴⁾		Revaluation adjustments⁽²⁾		Transfer			Effect of translation of foreign subsidiaries and hyperinflation adjustment⁽³⁾			Depreciation for the year			At December 31,2025
Network in operation and equipment	Ps.	1,182,263,355		Ps.	39,317,575	Ps.	(37,595,090	)	Ps.	1,418,869	Ps.	153,074	Ps.	71,954,690		Ps.	(46,636,694	)	Ps.	—		Ps.	1,210,875,779
Land and buildings		47,656,755			396,525		(580,203	)		3,601		—		1,673,319			(1,303,379	)		—			47,846,618
Other assets		149,326,013			8,815,573		(7,164,793	)		304		—		4,317,596			(4,301,530	)		—			150,993,163
Construction in process and advances plant suppliers⁽¹⁾		68,378,708			60,094,094		(5,014,523	)		195		—		(61,739,019	)		(2,372,207	)		—			59,347,248
Spare parts for operation of the network		31,138,618			20,116,239		(5,770,051	)		—		—		(21,020,545	)		(1,616,623	)		—			22,847,638
Total	Ps.	1,478,763,449		Ps.	128,740,006	Ps.	(56,124,660	)	Ps.	1,422,969	Ps.	153,074	Ps.	(4,813,959	)	Ps.	(56,230,433	)	Ps.	—		Ps.	1,491,910,446

Accumulated depreciation
Network in operation and equipment	Ps.	(664,174,121	)	Ps.	—	Ps.	35,681,366		Ps.	—	Ps.	1,065,116	Ps.	—		Ps.	34,315,788		Ps.	(107,249,725	)	Ps.	(700,361,576	)
Buildings		(12,853,361	)		—		436,567			—		—		—			697,234			(2,123,902	)		(13,843,462	)
Other assets		(87,776,641	)		—		5,397,684			—		—		—			2,285,686			(10,344,002	)		(90,437,273	)
Spare parts for the operation of the network		(174,897	)		—		112,841			—		—		—			2,596			54,387			(5,073	)
Total	Ps.	(764,979,020	)	Ps.	—	Ps.	41,628,458		Ps.	—	Ps.	1,065,116	Ps.	—		Ps.	37,301,304		Ps.	(119,663,242	)	Ps.	(804,647,384	)
Net Cost	Ps.	713,784,429		Ps.	128,740,006	Ps.	(14,496,202	)	Ps.	1,422,969	Ps.	1,218,190	Ps.	(4,813,959	)	Ps.	(18,929,129	)	Ps.	(119,663,242	)	Ps.	687,263,062

(1)

Construction in progress includes fixed and mobile network installations as well as satellite developments and fiber optic which are in the process of being installed.

(2)

Includes the surplus associated with the valuation of EuroTelesites AG and subsidiaries for an amount of Ps.1,218,190.

(3)

Includes a hyperinflation adjustment associated to Argentinean subsidiaries for an amount of Ps.3,933,514.

(4)

“Business combination” includes the acquisition of Connexio Metro in March 2025 and Peter-S-Teleurin in September 2025 in TAG and Sites Colombia in October 2025 in Comcel. See Note 12 a.

The completion period of construction in progress varies and depends upon the type of plant and equipment under construction.

b) Revaluation of telecommunications towers

The fair value of the passive infrastructure of telecommunications towers was determined using the “income approach” method through a discounted cash flow model (“DCF”) where, among others, inputs such as average rents per tower were used, contract term and discount rates considering market information.

c) Capitalized interest

Relevant information related to the computation of the capitalized borrowing costs is as follows:

	Year ended December 31,
	2023			2024			2025
Amount invested in the acquisition of qualifying assets	Ps.	25,489,098		Ps.	26,552,290		Ps.	25,197,431
Capitalized interest		1,442,077			1,622,958			1,569,608
Capitalization rate		5.7	%		6.1	%		6.2	%

Capitalized interest is being amortized over a period of estimated useful life of the related assets.

d) Non-cash consideration.

For the year ended December 31, 2023, 2024 and 2025, non-cash transactions related to acquisitions of property, plant and equipment in accounts payable amounted to Ps.6,928,514, Ps.11,701,417 and Ps.15,225,542.

Additionally, for the year ended December 31, 2023, the non-cash transaction related to revaluation surplus amounted Ps.1,157,941.

Intangible assets, net and goodwill

12 Months Ended

Dec. 31, 2025

Intangible assets, net and goodwill [Abstract]

Intangible assets, net and goodwill

Note 11. Intangible assets, net and goodwill

a) An analysis of intangible assets at December 31, 2023, 2024 and 2025 is as follows:

	At December 31, 2022			Acquisitions		Disposals and other			Amortization for the year			Incorporation (Merge, Spin off, Sale/other)		Effect of translation of foreign subsidiaries and hyperinflation adjustment			At December 31, 2023
Licenses and rights of use	Ps.	255,549,470		Ps.	18,814,933	Ps.	1,201,681		Ps.	—		Ps.	—	Ps.	(28,239,255	)	Ps.	247,326,829
Accumulated amortization		(142,425,106	)		—		(63,964	)		(11,643,803	)		—		11,328,430			(142,804,443	)

Net		113,124,364			18,814,933		1,137,717			(11,643,803	)		—		(16,910,825	)		104,522,386

Trademarks		26,467,355			198,532		(11,554	)		—			555		(1,313,470	)		25,341,418
Accumulated amortization		(23,452,798	)		—		571			(139,038	)		—		1,017,013			(22,574,252	)

Net		3,014,557			198,532		(10,983	)		(139,038	)		555		(296,457	)		2,767,166

Customer relationships		24,189,692			5,550		—			—			—		(3,505,503	)		20,689,739
Accumulated amortization		(19,332,019	)		—		—			(987,971	)		—		3,091,265			(17,228,725	)

Net		4,857,673			5,550		—			(987,971	)		—		(414,238	)		3,461,014

Software licenses		16,217,975			5,846,212		313,446			—			—		(3,021,588	)		19,356,045
Accumulated amortization		(9,515,383	)		—		1,102,658			(3,675,747	)		—		2,330,312			(9,758,160	)

Net		6,702,592			5,846,212		1,416,104			(3,675,747	)		—		(691,276	)		9,597,885

Content rights		12,783,404			737,465		(50,175	)		—			—		(1,854,001	)		11,616,693
Accumulated amortization		(11,589,168	)		—		—			(672,760	)		—		1,795,303			(10,466,625	)

Net		1,194,236			737,465		(50,175	)		(672,760	)		—		(58,698	)		1,150,068

Total of intangibles, net	Ps.	128,893,422		Ps.	25,602,692	Ps.	2,492,663		Ps.	(17,119,319	)	Ps.	555	Ps.	(18,371,494	)	Ps.	121,498,519

Goodwill	Ps.	141,121,365		Ps.	—	Ps.	—		Ps.	—		Ps.	—	Ps.	4,957,532		Ps.	146,078,897

	At December 31, 2023			Acquisitions		Business combinations		Disposals and other			Amortization for the year			Effect of translation of foreign subsidiaries and hyperinflation adjustment			At December 31, 2024
Licenses and rights of use	Ps.	247,326,829		Ps.	12,645,575	Ps.	763,101	Ps.	(872,238	)	Ps.	—		Ps.	18,349,117		Ps.	278,212,384
Accumulated amortization		(142,804,443	)		—		—		1,749,617			(13,140,279	)		(1,872,988	)		(156,068,093	)

Net		104,522,386			12,645,575		763,101		877,379			(13,140,279	)		16,476,129			122,144,291

Trademarks		25,341,418			—		—		(64,374	)		—			1,209,149			26,486,193
Accumulated amortization		(22,574,252	)		—		—		—			(143,406	)		(888,574	)		(23,606,232	)

Net		2,767,166			—		—		(64,374	)		(143,406	)		320,575			2,879,961

Customer relationships		20,689,739			4,475		111,066		—			—			2,599,501			23,404,781
Accumulated amortization		(17,228,725	)		—		—		—			(951,706	)		(2,498,298	)		(20,678,729	)

Net		3,461,014			4,475		111,066		—			(951,706	)		101,203			2,726,052

Software licenses		19,356,045			4,805,054		—		1,874,257			—			3,992,205			30,027,561
Accumulated amortization		(9,758,160	)		—		—		595,636			(4,905,764	)		(2,839,014	)		(16,907,302	)

Net		9,597,885			4,805,054		—		2,469,893			(4,905,764	)		1,153,191			13,120,259

Content rights		11,616,693			866,001		—		(821,107	)		—			2,630,934			14,292,521
Accumulated amortization		(10,466,625	)		—		—		309,988			(723,083	)		(2,546,783	)		(13,426,503	)

Net		1,150,068			866,001		—		(511,119	)		(723,083	)		84,151			866,018

Total of intangibles, net	Ps.	121,498,519		Ps.	18,321,105	Ps.	874,167	Ps.	2,771,779		Ps.	(19,864,238	)	Ps.	18,135,249		Ps.	141,736,581

Goodwill	Ps.	146,078,897		Ps.	—	Ps.	4,735,752	Ps.	—		Ps.	—		Ps.	6,021,720		Ps.	156,836,369

	At December 31, 2024			Acquisitions		Business combinations		Disposals and other			Amortization for the year			Effect of translation of foreign subsidiaries and hyperinflation adjustment			At December 31, 2025
Licenses and rights of use	Ps.	278,212,384		Ps.	14,642,015	Ps.	—	Ps.	(1,888,754	)	Ps.	—		Ps.	(7,838,748	)	Ps.	283,126,897
Accumulated amortization		(156,068,093	)		—		—		3,043,407			(13,556,356	)		2,994,172			(163,586,870	)

Net		122,144,291			14,642,015		—		1,154,653			(13,556,356	)		(4,844,576	)		119,540,027

Trademarks		26,486,193			19,090		—		—			—			70,604			26,575,887
Accumulated amortization		(23,606,232	)		—		—		—			(153,486	)		(32,895	)		(23,792,613	)

Net		2,879,961			19,090		—		—			(153,486	)		37,709			2,783,274

Customer relationships		23,404,781			3,883		17,919		(14,275	)		—			(94,358	)		23,317,950
Accumulated amortization		(20,678,729	)		—		—		7,425			(961,992	)		1,954			(21,631,342	)

Net		2,726,052			3,883		17,919		(6,850	)		(961,992	)		(92,404	)		1,686,608

Software licenses		30,027,561			4,746,784		—		2,125,571			—			(123,531	)		36,776,385
Accumulated amortization		(16,907,302	)		—		—		609,931			(6,075,427	)		(4,121	)		(22,376,919	)

Net		13,120,259			4,746,784		—		2,735,502			(6,075,427	)		(127,652	)		14,399,466

Content rights		14,292,521			647,023		—		152,501			—			(1,863,636	)		13,228,409
Accumulated amortization		(13,426,503	)		—		—		(83,188	)		(693,550	)		1,814,351			(12,388,890	)

Net		866,018			647,023		—		69,313			(693,550	)		(49,285	)		839,519

Total of intangibles, net	Ps.	141,736,581		Ps.	20,058,795	Ps.	17,919	Ps.	3,952,618		Ps.	(21,440,811	)	Ps.	(5,076,208	)	Ps.	139,248,894

Goodwill	Ps.	156,836,369		Ps.	—	Ps.	53,866	Ps.	—		Ps.	—		Ps.	562,940		Ps.	157,453,175

b) The aggregate carrying amount of goodwill is allocated by segment as follows:

	2024		2025
Europe	Ps.	62,374,446	Ps.	62,735,472
Brazil		27,897,869		27,841,639
Puerto Rico		17,463,394		17,463,394
Dominican Republic		14,186,723		14,186,723
Colombia		9,677,519		10,068,045
Mexico		9,249,711		9,206,525
Chile		4,735,752		4,735,752
Peru		2,564,786		2,558,928
El Salvador		2,522,768		2,522,768
Ecuador		2,155,384		2,155,384
Guatemala		2,261,495		2,231,865
Other countries		1,746,522		1,746,680
	Ps.	156,836,369	Ps.	157,453,175

c) The following is a description of the major changes in the “Licenses and rights of use” caption during the years ended December 31, 2023, 2024 and 2025:

2023 Acquisitions

(i) In November 2023, the Company obtained in Argentina, pursuant to resolution 2023-1473 of Enacom, a concession of spectrum in the 2.6 GHz 5G band for a 15 year-year period for an amount of Ps.8,731,237.

(ii) In April 2023, the Company obtained in Croatia (via A1 Telekom Austria Group) a concession of secured spectrum in a public auction for a 15 year-period for an amount of Ps.2,220,558. Additionally, in December 2023, the Company acquired in Bulgaria a spectrum license in the 700 MHz and 800 MHz segments for a 15 year-period for an amount of Ps.422,502.

(iii) In October 2023, the Company obtained a concession of 30 MHz and 2.500 MHz spectrum in Colombia for a 20-year period for an amount of Ps.1,949,048. Additionally, during 2023, the Company acquires IRUs for an amount of Ps.214,792.

(iv) In June of 2023, the Company obtained a 2.5 MHz spectrum license in Guatemala for an amount of Ps.1,859,262.

(v) In February and December 2023, the Company obtained in Mexico, an extension of spectrum frequency band concession titles for mobile transmission in the 835-845/880-890 MHz, 2514-2530/2634-2650 MHz and 2517-2530/2637-2650 MHz segments, respectively, for 20-year period for an amount of Ps.1,239,373.

(vi) In July 2023, the Company obtained in Uruguay frequency band concession titles for mobile transmission in the 3300-3400 MHz segment for a 25-year period for an amount of Ps.464,828.

(vii) During 2023, the Company acquired IRUs in Puerto Rico for an amount of Ps.296,247 and in the United States for an amount of Ps.180,956.

(viii) During 2023, the Company renewed in Brazil the 5G license carried out by ANATEL for an amount of Ps.593,273.

(ix) In March 2023, the Company obtained two concessions of spectrum band in Peru, which expires in January 2030 and December 2029, respectively, for an amount of Ps.149,567. Additionally, during 2023 the Company acquired IRU for an amount of Ps.132,387.

Additionally, in 2023, the Company acquired other licenses in Peru, Ecuador, El Salvador and Paraguay for an amount of Ps.360,903.

2024 Acquisitions

(i) In February 2024, the Company obtained in Colombia through resolution 495 10 MHz in the 2,500 MHz band and 496 80 MHz in the 3,500 MHz band, respectively. This concession was granted with some obligations to make, mainly infrastructure construction, like educational institutions and maintain the fiber optic infrastructure available to other providers of telecommunications networks in exchange for the concession for a period of 20 years. Additionally, the Company acquired IRUs in the months of January, May and September, of 880 MBPS, 3150 MBPS and 500 MBPS, respectively, for a period of 10 years and a total consideration of Ps.10,593,689.

(ii) During 2024, the Austrian subsidiary obtained several spectrum frequencies in different regions to provide 5G services as well as for industrial applications, obtaining frequencies up to 180 MHz with a validity of up to December 2039 and December 2046, additionally acquires in Bulgaria spectrum band of 900MHz and 1800 MHz for a period of 10 years for an amount of Ps.847,724.

(iii) The Ecuadorian subsidiary nowadays it is in negotiations for the renewal of the concession with the local government, during this process of accreditation the Company made monthly payments during the 2024 fiscal year for rights for the spectrum band, as of December 31, 2024 the amount paid amounts to Ps.739,285.

(iv) In June 2024, the subsidiary in Uruguay renewal 1900 MHz spectrum with a validity of 20 years for an amount of Ps.325,259.

Additionally, in 2024, the Company acquired other licenses in Paraguay, El Salvador, Brazil, Nicaragua, Argentina, Guatemala and Perú for an amount of Ps.139,618.

2025 Acquisitions

(i) In October 2025, the Ecuadorian subsidiary renewed the concession to offer of mobile service frequency bands and international long-distance service by 15 years, as the initial date of this renewal August 2023 Additionally in December 2025, acquires IRU with a validity of 10 years, for an amount of Ps.6,656,936.

(ii) In March 2025, a 2100 MHz band was acquired in Bulgaria for 10 years as well as 900 MHz IRU´s in Belarus related to BCloud, Additionally, during November 2025, acquires some radio frequency bands in Serbia 2 x 10 MHz, 2 x 25 MHz, 2 x 15 MHz, 2 x 20 MHz, and 130 MHz, which can begin to be used in March 2027, with an expiration date of March 2047, for an amount of Ps.3,217,584.

(iii) In December, Peru acquires spectrum band concession for 3.5 GHz (100 MHz block) for 20 years for an amount of Ps.2,162,683, the concession includes obligations to do, related with invest in and implement 4G coverage in 341 locations and 540 km of roads within a period of 4 years.

(iv) In June 2025, Puerto Rico acquired spectrum for voice, data, video, and OTT services with a total capacity of 40 MHz, which is considered to have an indefinite life and renewed every 10 years for an amount of Ps.923,217.

The acquired spectrum payment will be made in four installments: 1st - May 2025; 2nd - May 2026; 3rd - May 2027; and 4th - May 2028.

(v) In February, the Company renewed two frequencies in Mexico. 2523-2530/2643-2650 MHZ and 835-845/880-890, MH. Both frequencies with a validity for 20 years, paying an amount of Ps.729,156.

(vi) In April, the Brazilian company renewed several frequencies with a validity of 2 years, frequency licenses from ANATEL for an amount of Ps.468,659.

(vii) The subsidiary in Costa Rica acquired spectrum blocks with capacity between 700, 2300 and 3500 GHz in August for an amount of Ps.314,187 with a validity of 20 years.

(viii) During the year in Colombia, various IRU´s were acquired from the suppliers Alianza, Azteca, Andired with validity periods of until 15 years for a combined amount of Ps.95,461.

(ix)Additionally, in 2025, the Company acquired other licenses in Paraguay, El Salvador, Guatemala and Argentina for an amount of Ps.74,132.

Amortization of intangibles for the years ended December 31, 2023, 2024 and 2025 amounted to Ps.17,119,319, Ps.19,864,238 and Ps.21,440,811, respectively.

Some of the jurisdictions in which the Company operates can revoke their concessions under certain circumstances such as imminent danger to national security, national economy and natural disasters.

Business combinations, acquisitions, non-controlling interest and spin-off

12 Months Ended

Dec. 31, 2025

Business combinations, acquisitions, non-controlling interest and spin-off [Abstract]

Business combinations, acquisitions, non-controlling interest and spin-off

Note 12. Business combinations, acquisitions, non-controlling interest and spin-off

a) The following is a description of the major acquisitions of investments in associates and subsidiaries during the years ended December 31, 2023, 2024 and 2025:

Acquisitions 2023

(i) On July 24, 2023, the Company acquired, through its subsidiary América Móvil, B.V., shares corresponding to 5.55% of the voting rights in Telekom Austria AG from a private investor. Subsequently, on November 29, 2023, through a series of open market transactions, América Móvil, B.V. acquired an additional 1.85% of the voting rights, for an overall ownership in Telekom Austria AG of 58.4% of its total outstanding shares. The disbursements paid in both transactions amounts to Ps.6,214,643.

(ii) The Company acquired an additional non-controlling interests in its entities for an amount of Ps.49,302.

Acquisitions 2024

(i) On October 3, 2024, the Company received approval from the National Economic Prosecutor’s Office of the Republic of Chile (Fiscalía Nacional Económica) to take control of Claro Chile, SpA, which until that date was a 50:50 joint venture with Liberty Latin America (“LLA”). The Company converted all of Claro Chile, SpA’s outstanding convertible notes into equity, obtaining a controlling interest of 91.62%, thereby consolidating Claro Chile, SpA in its operations as from October 31, 2024.

Consequently, LLA maintained an 8.38% equity interest as of that date. The shareholders’ agreement entered into between AMX and LLA reflects a governance structure and terms consistent with such equity interests in Claro Chile, SpA, as well as a Call/Put option for AMX to acquire LLA’s remaining equity interest for an aggregate consideration of US$16 million.

For Purchase Price Allocation, the Company determined the fair value of identifiable assets and liabilities based on fair values. Purchase accounting is complete as of the date of the consolidated financial statements. The net assets acquired are as follows:

	Fair value at acquisition date

Cash and cash equivalents		Ps.	673,137
Other current assets			11,390,425
Other non-current assets			6,103,423
Intangible assets (excluding goodwill)			763,101
Property, plant and equipment, net			33,746,148
Right-of-use assets			5,493,785
Total acquired assets			58,170,019
Debt			(16,307,610	)
Liability related to right of use assets			(5,266,872	)
Accounts payable			(11,606,265	)
Other liabilities			(3,203,117	)
Total assumed liabilities			(36,383,864	)
Total identifiable net assets at fair value			21,786,155
Goodwill arising on acquisition			4,735,752

Total fair value at the acquisition date		Ps.	26,521,907

Consideration transferred
Fair value of the joint venture prior to the acquisition		6,721,525
Fair value of convertible notes		5,594,492
Pre-existing relationship		13,928,078
Anticipated acquisition non-controlling interest		277,812

Fair value of the consideration transferred	Ps.	26,521,907

In accordance with IFRS 3, the acquisition of Claro Chile, SpA was classified as an acquisition in stages. The Company recognized a net loss of Ps.781,355 in the results of the year, as well as a gain of Ps.4,674,598 derived from the recycling of the fair value valuation of the previously existing relationship.

(ii) During 2024, the Company has acquired through its subsidiaries other entities for which it has paid Ps.179,423, net of cash acquired.

(iii) During 2024, through a series of open market transactions, América Móvil, B.V. acquired an additional 2.22% of the voting rights, for an overall ownership in Telekom Austria AG of 60.6% of its total outstanding shares. The disbursements paid in both transactions amounts to Ps.2,306,271.

(iv) The Company acquired an additional non-controlling interests in its entities for an amount of Ps.3,813.

Acquisitions 2025

(i) During 2025, the Company has acquired through its subsidiaries other entities for which it paid Ps.276,841 (includes a transaction under common control of Ps.87,667), net of cash acquired.

(ii) During 2025, through a series of open market transactions, América Móvil, B.V. acquired an additional 0.3% of the voting rights, for an overall ownership in Telekom Austria AG of 60.9% of its total outstanding shares. The disbursements paid in these transactions amounted to Ps.440,849.

b) Joint venture

On December 26, 2023, the Company entered into a transaction agreement (the “Agreement”) with LLA, Claro Chile, SpA, and certain affiliates of the Company and LLA. Pursuant to the transaction agreement, the Company and LLA agreed to, collectively in proportion to their respective shareholding percentage interest or individually, provided additional capital required by Claro Chile, SpA during the calendar year 2023 and through June 30, 2024 in an aggregate amount not to exceed CLP$972.4 billion (Ps.18,728,611). This commitment sought to support the execution of the business plan of Claro Chile, SpA, and CLP$289.3 billion of the commitment was aimed to permit the refinancing of certain bank debt guaranteed by the Company and existing at the formation of Claro Chile, SpA. Furthermore, the Agreement provided the Company and LLA with an exercisable catch-up right on or before August 1, 2024 to cure any failure to fund the Company’s or LLA’s respective portions of the Commitment in order to maintain Claro Chile, SpA as a 50:50 joint venture.

As of December 31, 2023, the Company had purchased convertible notes from Claro Chile, SpA with an aggregate principal amount of CLP$742.1 billion (including the amounts used for the refinancing of bank debt) convertible into shares of Claro Chile, SpA. Subject to the terms of the Agreement, upon the conversion of such convertible notes and any additional convertible notes the Company might have purchased prior to August 1, 2024, Claro Chile, SpA could have ceased to be a 50:50 joint venture if LLA had not exercise its catch-up right under the Agreement. As of the date of the consolidated financial statements, LLA had not performed any financing as per Agreement. Additionally, the Company recorded an impairment related to these operations totaling Ps.12,184,562 and Ps.4,594,792 on December 31, 2023 and 2024, respectively. This amount was presented in Note 22 to the accompanying consolidated financial statements.

For the years ended December 31, 2023 and 2024, the Company recognized a loss in the application of the equity method in the amount of Ps.5,374,969 and Ps.5,313,754, respectively.

In September 2023, the Company identified impairment indicators and assesses that there was objective evidence that its joint venture is impaired, hence, an amount of Ps.4,677,782 was recorded, as the difference between the recoverable amount of the JV and its carrying value, and it is recognized in the “Valuation of derivatives, interest cost from labor obligations and other financial items”, in the consolidated statements of comprehensive income. See Note 22.

c) Consolidated subsidiaries with non-controlling interests

The Company has control over Telekom Austria, which has a material non-controlling interest. Set out below is summarized information as of December 31, 2024 and 2025 and for the years ended at December 31, 2023, 2024 and 2025 of Telekom Austria’s consolidated financial statements.

The amounts disclosed for this subsidiary are before inter-company eliminations and using the same accounting policies of América Móvil.

Selected financial data from the consolidated statements of financial position

	December 31,
	2024		2025
Assets:
Current assets	Ps.	37,066,173	Ps.	39,759,351
Non-current assets		146,445,867		150,749,751

Total assets	Ps.	183,512,040	Ps.	190,509,102

Liabilities and equity:

Current liabilities	Ps.	39,655,029	Ps.	58,261,026
Non-current liabilities		59,851,427		41,310,047

Total liabilities		99,506,456		99,571,073
Equity attributable to equity holders of the parent		42,713,480		55,384,265
Non-controlling interest		41,292,104		35,553,764

Total equity	Ps.	84,005,584	Ps.	90,938,029

Total liabilities and equity	Ps.	183,512,040	Ps.	190,509,102

Summarized consolidated statements of comprehensive income

	For the year ended December 31,
	2023		2024		2025
Operating revenues	Ps.	100,762,884	Ps.	107,519,342	Ps.	120,957,188
Operating costs and expenses		85,320,071		92,510,372		104,167,213

Operating income	Ps.	15,442,813	Ps.	15,008,970	Ps.	16,789,975

Net income	Ps.	10,929,263	Ps.	11,027,066	Ps.	12,091,402

Total comprehensive income	Ps.	3,621,780	Ps.	12,426,457	Ps.	13,746,204

Net income attributable to:
Equity holders of the parent	Ps.	6,380,385	Ps.	6,682,402	Ps.	7,368,500
Non-controlling interest		4,548,878		4,344,664		4,722,902

	Ps.	10,929,263	Ps.	11,027,066	Ps.	12,091,402

Comprehensive income attributable to:
Equity holders of the parent	Ps.	2,114,356	Ps.	7,530,433	Ps.	8,376,937
Non-controlling interest		1,507,424		4,896,024		5,369,267

	Ps.	3,621,780	Ps.	12,426,457	Ps.	13,746,204

On September 2023 Telekom Austria was spun-off transferring all site operations to EuroTeleSites AG. The Company has control over EuroTeleSites AG, which has a material non-controlling interest. As of December 31, 2024 and 2025, EuroTeleSites AG has a consolidated net total assets of Ps.7,198,455 and Ps.8,731,211, respectively; a consolidated net income for the years ended December 31, 2023, 2024 and 2025 of Ps.126,103, Ps.589,135 and Ps.725,971, respectively, and a net income for non-controlling interest of Ps.52,485, Ps.253,328 and Ps.312,168, respectively.

d) Spin-off of telecommunication towers to EuroTeleSites

On February 6, 2023, the Company entered into a definitive agreement with OBAG, pursuant to which, the Company and OBAG agreed to, among other things, formally execute the spin-off of the mobile towers in most of the countries in which Telekom Austria AG operates, including Austria.

On August 1, 2023, the tower spin-off was approved by the shareholders of Telekom Austria AG in an extraordinary shareholders’ meeting. On September 22, 2023, Telekom Austria completed the spin-off of its telecommunications towers and other related passive infrastructure in Austria, Bulgaria, Croatia, North Macedonia, Serbia and Slovenia, and revalued its telecommunication towers through an appraisal, hence, the spun-off tower company, EuroTeleSites AG, recognized a revaluation surplus for that assets as the aforementioned date.

As a consequence of the foregoing, the Company recognized the complement for revaluation surplus figure in the consolidated financial statements as disclosed in Note 10.

In addition, Telekom Austria AG listed the shares of EuroTeleSites AG, on the Vienna Stock Exchange. The Telekom Austria AG shareholders received one EuroTeleSites AG share for every four Telekom Austria AG shares they owned. Both of Telekom Austria and EuroTeleSites AG are indirect subsidiaries of the Company over which the Company retains a controlling interest.

As part of the spin-off, Telekom Austria AG transferred to EuroTelesites AG assets of Ps.36,599 million (1,953 million euros) mainly in property, plant and equipment, right of use and other assets and accounts receivable, Ps.47,675 million (2,543 million euros) in debt, lease debt and other net liabilities, which resulted in net assets’ deficit of Ps.11,076 million (591 million euros).

Income Taxes

12 Months Ended

Dec. 31, 2025

Income Taxes [Abstract]

Income Taxes

Note 13. Income Taxes

The Company is a Mexican corporation which has numerous consolidated subsidiaries operating in different countries. Presented below is a discussion of income tax matters that relates to the Company’s consolidated operations, its Mexican operations and significant foreign operations.

(i)	Consolidated income tax matters

The composition of income tax expense for the years ended December 31, 2023, 2024 and 2025 is as follows:

	2023				2024				2025
Income Tax attributable
In Mexico:
Current year income tax		Ps.	32,327,958			Ps.	29,105,637			Ps.	27,186,836
Deferred income tax			(6,706,412	)			(12,286,894	)			3,543,636
Foreign:
Current year income tax			16,026,324				19,053,257				20,225,100
Deferred income tax			(7,103,867	)			(633,557	)			2,914,617
Total income tax		Ps.	34,544,003			Ps.	35,238,443			Ps.	53,870,189

Deferred tax income / (expense) related to items recognized in OCI during the year:

	For the years ended December 31,
	2023				2024				2025
Remeasurement of defined benefit plans		Ps.	(975,061	)		Ps.	6,328,961			Ps.	9,246,387
Equity investments at fair value			2,836,366				(7,491,232	)			1,989,858
Revaluation of Assets			—				(495,646	)			(364,248	)

Deferred tax income/ (expense) recognized in OCI		Ps.	1,861,305			Ps.	(1,657,917	)		Ps.	10,871,997

In addition, deferred tax expense of Ps.308,551, Ps.289,460 and Ps.163,343 was transferred in 2023, 2024 and 2025, respectively, from revaluation surplus to retained earnings. This relates to the difference between the actual depreciation and equivalent depreciation based on cost. A reconciliation of the statutory income tax rate in Mexico to the consolidated effective income tax rate recognized by the Company is as follows:

	Year ended December 31,
	2023			2024			2025
Statutory income tax rate in Mexico		30.0	%		30.0	%		30.0	%
Impact of non-deductible and non-taxable items:
Tax inflation effects		2.1	%		4.9	%		2.9	%
Derivatives		0.3	%		1.3	%		0.0	%
Employee benefits		1.5	%		5.7	%		2.0	%
Other non-deductible items		—			8.6	%		0.8	%
Other		4.8	%		1.4	%		2.9	%
Effective tax rate on Mexican operations		38.7	%		51.9	%		38.6	%
Tax recoveries and NOL’s in Brazil		(3.5	)%		(1.5	)%		(2.3	)%
Foreign subsidiaries and other non-deductible items, net		(2.2	)%		8.8	%		3.8	%
Tax rates differences		(3.1	)%		(3.1	)%		(2.2	)%
Effective tax rate		29.9	%		56.1	%		37.9	%

The breakdown of net deferred tax assets is as follows:

	Consolidated statements of financial position							Consolidated statements of comprehensive income
	2024				2025			2023				2024				2025
Provisions		Ps.	39,976,016			42,249,203			Ps.	15,065,996			Ps.	(2,577,054)			Ps.	3,197,801
Deferred revenues			13,475,756			10,920,652				1,767				560,731				(567,417	)
Tax losses carry forward			38,397,674			36,074,254				8,575,209				508,256				(838,294	)
Property, plant and equipment (1)			(3,830,404	)		(7,029,432	)			2,157,776				(239,696	)			(3,627,587	)
Inventories			965,844			1,008,997				669,382				12,715				(81,788	)
Licenses and rights of use (1)			(13,293,040	)		(10,881,635	)			141,060				372,803				1,125,217
Employee benefits			35,455,273			46,495,509				(3,224,333	)			(3,431,627	)			101,681
Other			14,338,351			13,069,928				(9,576,577	)			17,714,323				(5,767,866	)

Net deferred tax assets		Ps.	125,485,470			131,907,476

Deferred tax benefit (loss) in net profit for the year									Ps.	13,810,280			Ps.	12,920,451			Ps.	(6,458,253	)

⁽¹⁾

As of December 31, 2024 and 2025, the balance included the effects of hyperinflation and revaluation of telecommunications towers.

Reconciliation of deferred tax assets and liabilities, net:

	2024				2025
Opening balance as of January 1,		Ps.	116,614,520			Ps.	125,485,470
Deferred tax benefit			12,920,451				(6,458,253	)
Translation effect			(4,202,773	)			2,005,541
Deferred tax income recognized in OCI			(1,657,917	)			10,871,997
Deferred taxes acquired in business combinations			1,811,189				2,721

Closing balance as of December 31,		Ps.	125,485,470			Ps.	131,907,476

Presented in the consolidated statements of financial position as follows:
Deferred income tax assets		Ps.	153,217,164			Ps.	159,387,970
Deferred income tax liabilities			(27,731,694	)			(27,480,494	)

		Ps.	125,485,470			Ps.	131,907,476

The deferred taxes are in tax jurisdictions in which the Company considers that based on financial projections of its cash flows, results of operations and synergies between subsidiaries, will generate sufficient taxable income in subsequent periods to utilize or realize such assets.

The Company does not recognize a deferred tax related to the undistributed earnings of its subsidiaries, because it currently does not expect these earnings to be taxable or to be repatriated in the near future. The Company’s policy has been to distribute the profits when it has paid the corresponding taxes in its home jurisdiction and the tax can be accredited in Mexico. The temporary differences associated with investments in the Company’s subsidiaries and associates, for which a deferred tax has not been recognized in the periods presented, aggregate to Ps.596,631,908 and Ps.60,990,905 as of December 31, 2024 and 2025, respectively.

At December 31, 2024 and 2025, the balance of the contributed capital account (“CUCA”) is Ps.698,574,990 and Ps.718,665,249, respectively. The balance of the Cuenta de Utilidad Fiscal Neta (“CUFIN”) amounted to Ps.925,309,212 and Ps.659,299,152 as of December 31, 2024 and 2025, respectively.

(ii)

Significant foreign income tax matters

Results of operations

The foreign subsidiaries determine their taxes on profits based on their individual taxable income, in accordance with the specific tax regimes of each country.

The effective income tax rate for the Company’s foreign jurisdictions was 13.9% in 2023, 36.0% in 2024 and 29.0% in 2025. The statutory tax rates in these jurisdictions vary, although many approximate 10% to 35%. The primary difference between the statutory rates and the effective rates in 2023, 2024 and 2025, was attributable to inflationary effects in Argentina, non-deductible items, and registry of benefits related to tax losses in Brazil and Chile.

With the change of government (December 10, 2023), Argentina initiates a process of tax revenues adjustment trying to achieve tax balance. In the medium term, a stage is expected where the entire tax system is restated to achieve a reduction in taxes that attracts investments and generates employment opportunities.

Among the measures adopted macro-economically, are the following:

•

The Central Bank has made access to the free exchange market for goods and services imports more flexible, eliminating bureaucratic and administrative obstacles which obstructed access to foreign currency. This is the reason for the establishment of differentiated payment terms, according to the nature of the imported goods and services.

(iii)

Tax losses

a) At December 31, 2025, the available tax loss carryforwards recorded in deferred tax assets are as follows on a country by country basis:

Country	Gross balance of available tax loss carryforwards at December 31, 2025		Tax-effected loss carryforward benefit
Brazil	Ps.	79,615,782	Ps.	27,069,366
Mexico		24,073,142		7,221,943
Chile		3,134,305		846,262
Others		3,946,235		936,683

Total	Ps.	110,769,464	Ps.	36,074,254

b) The tax loss carryforwards in the different countries in which the Company operates have the following terms and characteristics:

bi) The Company has accumulated Ps.79,615,782 in net operating loss carryforwards (“NOLs”) in Brazil as of December 31, 2025. In Brazil, there is no expiration of the NOL’s. The NOLs amount used against taxable income in each year may not exceed 30% of the taxable income for such year.

The Company believes that it is more likely than not that the accumulated balances of its net deferred tax assets are recoverable, based on the positive evidence of the Company to generate future taxable income related to the same taxation authority which will result in taxable amounts against which the available tax losses can be utilized before they expire.

bii) The Company has accumulated Ps.24,073,142 in tax losses in Mexico. The Company estimates that there is positive evidence that allows it to use these losses, these losses should be reduced to the extent that it is considered likely that there will not be sufficient taxable profits to allow them to recover in full or in part, the losses will only be compensated when there is a right legally required and are approved by the tax authorities in Mexico.

biii) The Company has accumulated Ps.3,134,305 in NOLs in Chile as of December 31, 2025. In Chile, tax losses do not expire.

(iv)	Limiting interest deductions

The Mexican Tax Law establishes since 2020 new rules related to the limit on interest deductions, in accordance with the action 4 of Base Erosion and Profit Shifting (“BEPS”) project issued by the OECD, from which Mexico is member.

In general terms, each Mexican companies should calculate an adjusted Tax EBITDA, whose amount times the corporate income tax, will be the interest limit allowed to be deducted in each tax year. It is important to mention that the amount that was not deductible could be carryforward in the following ten years.

(v)	Pillar Two rules

The Organization for Economic Co-operation and Development (OECD)/G20 Inclusive Framework on BEPS addresses the tax challenges arising from the digitalization of the global economy. The Global Anti-Base Erosion Model Rules (Pillar Two model rules) apply to multinational enterprises (MNEs) with annual revenue in excess of EUR 750 million per their consolidated financial statements.

The Pillar Two model rules introduce four new taxing mechanisms under which MNEs would pay a minimum level of tax (the Minimum Tax):

• The Qualified Domestic Minimum Top-up Tax (QDMTT)

• The Income Inclusion Rule (IIR)

• The Under Taxed Payments/Profits Rule (UTPR)

The Subject to Tax Rule is a tax treaty-based rule that generally proposes a Minimum Tax on certain cross-border intercompany transactions that otherwise are not subject to a minimum level of tax. The new taxing mechanisms can impose a minimum tax on the income arising in each jurisdiction in which an MNE operates. The IIR, UTPR and QDMTT do so by imposing a top-up tax in a jurisdiction whenever the effective tax rate (ETR), determined on a jurisdictional basis under the Pillar Two rules, is below a 15% minimum rate.

On 23 May 2023, the International Accounting Standards Board issued International Tax Reform—Pillar Two Model Rules – Amendments to IAS 12 (the Amendments). The Amendments clarify that IAS 12 applies to income taxes arising from tax law enacted or substantively enacted to implement the Pillar Two model rules published by the OECD, including tax law that implements a QDMTT. The Company has adopted these amendments, which introduce:

• A mandatory temporary exception to the accounting for deferred taxes arising from the jurisdictional implementation of the Pillar Two model rules;

And

• Disclosure requirements for affected entities to help users of the financial statements better understand an entity’s exposure to Pillar Two income taxes arising from that legislation.

The Pillar Two model rules were adopted in the Company at the end of 2023 and are applicable starting from 1 January 2024. According to these rules, the Company is considered a multinational enterprise to which the Pillar Two rules shall be applied. At the same time, Pillar Two legislation has been enacted or substantively enacted in certain other jurisdictions in which the Company operates effective for the financial year beginning 1 January 2024.

The Company has performed an assessment of its potential exposure to Pillar Two income taxes. The Pillar Two effective tax rates in most of the jurisdictions in which the Company operates is above 15%. However, the Company has recognized a Pillar Two current tax expense of Ps.282 million (€13.3 million), this amount is integrated as follow:

• Bulgarian – Ps.252 million M (€11.9 million)

• Macedonia – Ps.. 29 million (€1.4 million)

The Company continues to follow Pillar Two legislative developments, as further countries enact the Pillar Two model rules, to evaluate the potential future impact on its consolidated results of operations, financial position and cash flows beginning. Pillar II is applicable in Brazil as from January 1, 2025.

(vi)	Revaluation of telecommunications towers

Deferred taxes related to the revaluation of the passive infrastructure of the telecommunications towers have been calculated at the tax rate of the jurisdiction in which the subsidiaries are located.

Debt

12 Months Ended

Dec. 31, 2025

Debt [Abstract]

Debt

Note 14. Debt

a) The Company’s short- and long-term debt consists of the following:

As of December 31, 2024							(Thousands of Mexican pesos)

Currency	Loan	Interest rate		Maturity		Total

Senior Notes
U.S. dollars

	Fixed-rate Senior notes (i)		5.125%		2028	Ps.	4,143,002
	Fixed-rate Senior notes (i)		6.375%		2028		4,676,086
	Fixed-rate Senior notes (i)		4.375%		2029		2,402,000
	Fixed-rate Senior notes (i)		3.625%		2029		20,268,300
	Fixed-rate Senior notes (i)		2.875%		2030		20,268,300
	Fixed-rate Senior notes (i)		4.700%		2032		15,201,225
	Fixed-rate Senior notes (i)		6.375%		2035		19,889,891
	Fixed-rate Senior notes (i)		6.125%		2037		7,483,563
	Fixed-rate Senior notes (i)		6.125%		2040		40,445,595
	Fixed-rate Senior notes (i)		4.375%		2042		23,308,545
	Fixed-rate Senior notes (i)		4.375%		2049		25,335,375
	Subtotal U.S. dollars					Ps.	183,421,882
Mexican pesos
	Commercial Paper (ii)		10.420% - 11.530%		2025	Ps.	6,500,597
	Domestic Senior notes (i)		0.000%		2025		6,201,365
	Domestic Senior notes (i)	TIIE + 0.050%			2025		3,000,000
	Domestic Senior notes (i)	TIIE + 0.300%			2025		409,418
	Domestic Senior notes (i)		9.350%		2028		11,016,086
	Fixed-rate Senior notes (i)		10.125%		2029		17,500,000
	Fixed-rate Senior notes (i)		9.500%		2031		17,000,000
	Domestic Senior notes (i)		9.520%		2032		14,679,166
	Fixed-rate Senior notes (i)		10.300%		2034		20,000,000
	Fixed-rate Senior notes (i)		8.460%		2036		7,871,700
	Domestic Senior notes (i)		8.360%		2037		4,964,352
	Domestic Senior notes (i)		4.840%		2037		11,062,112
	Subtotal Mexican pesos					Ps.	120,204,796
Euros

	Commercial Paper (ii)		2.870% - 3.840%		2025	Ps.	26,158,406
	Fixed-rate Senior notes (i)		1.500%		2026		15,745,429
	Fixed-rate Senior notes (i)		0.750%		2027		15,867,928
	Fixed-rate Senior notes (i)		2.125%		2028		12,520,975
	Fixed-rate Senior notes (i)		5.250%		2028		10,496,953
	Floating-rate Senior notes (i)		Euribor 3M + 1.050%		2028		3,778,901
	Subtotal euros					Ps.	84,568,592
Pound Sterling
	Fixed-rate Senior notes (i)		5.000%		2026	Ps.	12,687,956
	Fixed-rate Senior notes (i)		5.750%		2030		16,494,343
	Fixed-rate Senior notes (i)		4.948%		2033		7,612,773
	Fixed-rate Senior notes (i)		4.375%		2041		19,031,934
	Subtotal Pound Sterling					Ps.	55,827,006
Brazilian reais

	Debentures (i)	CDI + 1.37%			2025	Ps.	4,909,719
	Debentures (i)	CDI + 1.35%			2026		4,909,719
	Debentures (i)	CDI + 1.20%			2027		9,819,437
	Debentures (i)	CDI + 0.55%			2028		4,909,719
	Debentures (i)	IPCA + 5.7687%			2029		8,182,864
	Subtotal Brazilian reais					Ps.	32,731,458
Other currencies
Japanese yen
	Fixed-rate Senior notes (i)		2.950%		2039	Ps.	1,674,427
Chilean pesos
	Fixed-rate Senior notes (i)		4.000%		2035	Ps.	3,907,036
	Subtotal other currencies					Ps.	5,581,463
Lines of Credit and others

Euros
	Lines of credit (iii)	Euribor 3M + 1.300%			2028	Ps.	6,088,232
Mexican pesos
	Lines of credit (iii)	TIIE + 0.400% - 0.790%			2025		10,380,000
U.S. dollars
	Lines of credit (iii)	SOFR 1M + 0.400% - 0.550% & 6.750%			2025 - 2029		23,511,228
Peruvian Soles
	Lines of credit (iii)		5.080% - 6.150%		2025		21,298,150
Colombian pesos
	Lines of credit (iii)	IBR 1M + 0.560% - 2.550% & IBR 3M + 0.560%			2025 - 2026		17,008,428
Chilean pesos
	Lines of credit (iii)	TAB 30 + 3.350% & TAB 180 + 0.600% - 0.750%			2025 - 2026		6,526,415
	Financial leases		8.270% - 8.970%		2027		22,052
Dominican pesos
	Lines of credit (iii)		10.900% - 13.250%		2025 - 2026		415,929

	Subtotal Lines of Credit and others					Ps.	85,250,434
	Total debt					Ps.	567,585,631
	Less: Short-term debt and current portion of long-term debt					Ps.	104,210,738
	Long-term debt					Ps.	463,374,893

As of December 31, 2025 (Thousands of Mexican pesos)							(Thousands of Mexican pesos)

Currency	Loan	Interest rate		Maturity		Total

Senior Notes
U.S. dollars

	Fixed-rate Senior notes (i)		4.375%		2029	Ps.	2,123,847
	Fixed-rate Senior notes (i)		3.625%		2029		17,966,700
	Fixed-rate Senior notes (i)		2.875%		2030		17,966,700
	Fixed-rate Senior notes (i)		4.700%		2032		13,475,025
	Fixed-rate Senior notes (i)		5.000%		2033		8,983,350
	Fixed-rate Senior notes (i)		6.375%		2035		17,631,262
	Fixed-rate Senior notes (i)		6.125%		2037		6,633,755
	Fixed-rate Senior notes (i)		6.125%		2040		35,852,730
	Fixed-rate Senior notes (i)		4.375%		2042		20,661,705
	Fixed-rate Senior notes (i)		4.375%		2049		22,458,375
	Subtotal U.S. dollars					Ps.	163,753,449
Mexican pesos
	Commercial Paper (ii)		7.370% - 8.350%		2026	Ps.	6,030,073
	Domestic Senior notes (i)		9.350%		2028		11,016,086
	Fixed-rate Senior notes (i)		10.125%		2029		26,000,000
	Fixed-rate Senior notes (i)		9.500%		2031		22,000,000
	Domestic Senior notes (i)		9.520%		2032		14,679,166
	Fixed-rate Senior notes (i)		10.300%		2034		28,896,000
	Fixed-rate Senior notes (i)		8.460%		2036		7,871,700
	Domestic Senior notes (i)		8.360%		2037		4,996,435
	Domestic Senior notes (i)		4.840%		2037		11,492,450
	Subtotal Mexican pesos					Ps.	132,981,910
Euros

	Commercial Paper (ii)		2.220% - 2.260%		2026		9,555,086
	Fixed-rate Senior notes (i)		1.500%		2026		15,819,679
	Fixed-rate Senior notes (i)		0.750%		2027		15,942,756
	Fixed-rate Senior notes (i)		2.125%		2028		12,580,020
	Fixed-rate Senior notes (i)		5.250%		2028		10,546,452
	Floating-rate Senior notes (i)	Euribor 3M + 1.050%			2028		3,796,723
	Fixed-rate Senior notes (i)	3.000%			2030		13,710,389
	Subtotal euros					Ps.	81,951,105
Pound Sterling
	Fixed-rate Senior notes (i)		5.000%		2026	Ps.	12,087,097
	Fixed-rate Senior notes (i)		5.750%		2030		15,713,227
	Fixed-rate Senior notes (i)		4.948%		2033		7,252,258
	Fixed-rate Senior notes (i)		4.375%		2041		18,130,646
	Subtotal Pound Sterling					Ps.	53,183,228
Brazilian reais
	Debentures (i)	CDI + 1.35%			2026		4,897,872
	Debentures (i)	CDI + 1.20%			2027		9,795,744
	Debentures (i)	CDI + 0.55%			2028		4,897,872
	Debentures (i)	IPCA + 5.7687%			2029		8,163,120
	Subtotal Brazilian reais					Ps.	27,754,608
Other currencies
Japanese yen
	Fixed-rate Senior notes (i)		2.950%		2039	Ps.	1,490,156
Chilean pesos
	Fixed-rate Senior notes (i)		4.000%		2035	Ps.	3,934,278
	Subtotal other currencies					Ps.	5,424,434
Lines of Credit and others


Mexican pesos
	Lines of credit (iii)	TIIE Fondeo + 0.300%			2026		4,000,000
U.S. dollars
	Lines of credit (iii)	SOFR 1M + 0.400%			2026		4,940,843
Peruvian Soles
	Lines of credit (iii)		4.650% - 4.890%		2026		24,590,054
Colombian pesos
	Lines of credit (iii)	IBR 1M + 1.350% & IBR 3M + 0.850% - IBR 3M + 0.990%			2027		14,585,379
Chilean pesos
	Lines of credit (iii)	TAB 90 + 0.750% & TAB 180 + 0.650% - 0.800% & TAB 360 + 0.850% & 6.620%			2026 - 2027		11,727,384
	Financial leases		8.270% - 8.970%		2027		14,466
	Subtotal Lines of Credit and others					Ps.	59,858,126
	Total debt					Ps.	524,906,860
	Less: Short-term debt and current portion of long-term debt					Ps.	91,973,001
	Long-term debt					Ps.	432,933,859

EURIBOR = Euro Interbank Offered Rate

TIIE = Mexican Interbank Rate

CDI = Brazil Interbank Deposit Rate

TAB = Chilean weighted average funding rate

IBR = Colombia Reference Bank Indicator

IPCA = Brazil consumer price index

SOFR = Secured Overnight Financing Rate

Interest rates on the Company’s debt are subject to fluctuations in international and local rates. The Company’s weighted average cost of borrowed funds as of December 31, 2024, and 2025 was approximately 6.14% and 6.29%, respectively.

Such rates do not include commissions or the reimbursements for Mexican tax withholdings (typically a tax rate of 4.9%) that the Company must pay to international lenders.

An analysis of the Company’s short-term debt maturities as of December 31, 2024 and 2025, is as follows:

	2024			2025
Senior Notes	Ps.	47,179,504		Ps.	48,389,808
Lines of credit		57,023,548			43,574,762
Financial leases		7,686			8,431
Subtotal short term debt	Ps.	104,210,738		Ps.	91,973,001
Weighted average interest rate		6.42	%		5.09	%

The Company’s long-term debt maturities are as follows:

Years	Amount
2027	Ps.	42,013,431
2028		42,837,154
2029		54,253,667
2030		47,390,315
2031		22,000,000
2032 and thereafter		224,439,292
Total	Ps.	432,933,859

(i) Senior Notes

The outstanding Senior Notes as of December 31, 2024, and 2025, are as follows:

Currency*	2024		2025
U.S. dollars	Ps.	183,421,882	Ps.	163,753,449
Mexican pesos		120,204,796		132,981,910
Euros		84,568,592		81,951,105
Pound sterling		55,827,006		53,183,228
Brazilian reais		32,731,458		27,754,608
Japanese yens		1,674,427		1,490,156
Chilean pesos		3,907,036		3,934,278

*Thousands of Mexican pesos.

*Includes secured and unsecured senior notes.

On November 25, 2025, under our Mexican Global Note program, the Company reopened its Global Peso Notes for a total amount of Ps.10,000,000 million.

(ii) Commercial Paper

In August 2020, the Company established a Euro-Commercial Paper program for a total amount of €2,000 million. As of December 31, 2025, debt under this program aggregated to Ps. 9,555 million.

Additionally, under our Mexican Domestic Senior Notes program, the Company has an aggregated amount outstanding of Ps. 6,030 million in Commercial Paper in Mexican pesos as of December 31, 2025.

(iii) Lines of credit

As of December 31, 2024, and 2025, debt under lines of credit aggregated to Ps. 85,228 million and Ps. 59,844 million respectively.

The Company has two undrawn revolving syndicated credit facilities, one for the Euro equivalent of US$ 1,500 million and the other for US$ 2,500 million maturing in 2030 and 2029, respectively. As long as the facilities are committed, a commitment fee is paid. Telekom Austria has an undrawn revolving syndicated credit facility in Euros for €1,000 million that matures in 2030.

Restrictions

A portion of the debt is subject to certain restrictions with respect to maintaining certain financial ratios, as well as restrictions on selling a significant portion of groups of assets, among others. As of December 31, 2025, the Company was in compliance with all these requirements.

A portion of the debt is also subject to early maturity or repurchase at the option of the holders in the event of a change in control of the Company, as defined in each instrument. The definition of change in control varies from instrument to instrument; however, no change in control shall be considered to have occurred as long as its current shareholders continue to hold the majority of the Company’s voting shares.

Covenants

In conformity with the credit agreements, the Company is obliged to comply with certain financial and operating commitments. Such covenants limit in certain cases, the ability of the Company or the guarantor to: pledge assets, carry out certain types of mergers, sell all or substantially all of its assets, and sell control of Telcel.

Such covenants do not restrict the ability of AMX’s subsidiaries to pay dividends or other payment distributions to AMX. The more restrictive financial covenants require the Company to maintain a consolidated ratio of debt to EBITDA (defined as operating income plus depreciation and amortization) that does not exceed 4 to 1, and a consolidated ratio of EBITDA to interest paid that is not below 2.5 to 1 (in accordance with the clauses included in the credit agreements).

Several of the Company’s financing instruments may be accelerated, at the option of the debt holder, upon the occurrence of events of default as specified in the applicable debt agreements.

As of December 31, 2025, the Company was in compliance with all the covenants.

Right-of-use assets and liability related to right-of-use of assets

12 Months Ended

Dec. 31, 2025

Right-of-use assets and liability related to right-of-use of assets [Abstract]

Right-of-use assets and liability related to right-of-use of assets

Note 15. Right-of-use assets and liability related to right-of-use of assets

The Company has lease contracts for various items of towers & sites, property and other equipment used in its operations. Towers and sites, and property generally have lease terms between 2 and 24 years, while other equipment generally has lease terms between 2 and 20 years.

In 2023, 2024 and 2025 the movement of right-of-use assets and liability related to right-of-use of assets are as follows:

	Right-of-use assets
	Towers & Sites			Property			Other equipment			Total			Liability related to right-of-use of assets
As of December 31, 2022	Ps.	106,219,649		Ps.	9,222,438		Ps.	6,432,009		Ps.	121,874,096		Ps.	134,148,811
Additions and disposals		14,744,304			464,791			146,515			15,355,610			12,244,019
Modifications		25,773,865			1,430,795			(3,397,274	)		23,807,386			39,109,007
Depreciation		(26,763,563	)		(3,122,468	)		(1,953,019	)		(31,839,050	)		—
Interest expense		—			—			—			—			10,648,584
Payments		—			—			—			—			(39,498,197	)
Translation adjustment		(13,391,742	)		(1,358,124	)		(879,856	)		(15,629,722	)		(31,483,068	)
Balance at December 31, 2023	Ps.	106,582,513		Ps.	6,637,432		Ps.	348,375		Ps.	113,568,320		Ps.	125,169,156

	Right-of-use assets
	Towers & Sites			Property			Other equipment			Total			Liability related to right-of-use of assets
As of December 31, 2023	Ps.	106,582,513		Ps.	6,637,432		Ps.	348,375		Ps.	113,568,320		Ps.	125,169,156
Additions and disposals		69,238,564			5,007,853			481,822			74,728,239			74,430,110
Business combination		4,166,641			401,760			943,145			5,511,546			5,285,522
Modifications		20,750,663			3,644,901			6,460,657			30,856,221			31,996,863
Depreciation		(26,991,438	)		(3,151,532	)		(2,258,796	)		(32,401,766	)		—
Interest expense		—			—			—			—			16,594,964
Payments		—			—			—			—			(45,285,610	)
Translation adjustment		6,050,342			900,839			246,637			7,197,818			4,912,223
Balance at December 31, 2024	Ps.	179,797,285		Ps.	13,441,253		Ps.	6,221,840		Ps.	199,460,378		Ps.	213,103,228

	Right-of-use assets
	Towers & Sites			Property			Other equipment			Total			Liability related to right-of-use of assets
As of December 31, 2024	Ps.	179,797,285		Ps.	13,441,253		Ps.	6,221,840		Ps.	199,460,378		Ps.	213,103,228
Additions and disposals		13,015,928			1,680,494			1,152,199			15,848,621			14,847,515
Business combination		38,315			—			—			38,315			37,229
Modifications		22,171,326			1,534,748			3,020,184			26,726,258			28,873,668
Depreciation		(32,696,594	)		(3,582,831	)		(2,946,642	)		(39,226,067	)		—
Interest expense		—			—			—			—			16,156,752
Payments		—			—			—			—			(51,585,889	)
Translation adjustment		(5,030,706	)		(224,412	)		(48,515	)		(5,303,633	)		(7,323,570	)
Balance at December 31, 2025	Ps.	177,295,554		Ps.	12,849,252		Ps.	7,399,066		Ps.	197,543,872		Ps.	214,108,933

At December 31, 2024 and 2025, the total of the right-of-use assets include an amount of Ps.125,960,911 and Ps.119,146,817 corresponding to related parties, respectively, and the total of lease liabilities include an amount of Ps.131,170,623 and Ps.128,238,094 corresponding to related parties, respectively. For the years ended December 31, 2023, 2024 and 2025, non-cash net additions to right-of-use assets and their related liabilities amounted to Ps.3,111,591, Ps.298,129, and Ps.1,001,106, respectively.

The lease debt of the Company is integrated according to its maturities as follows:

	2024		2025
Short term	Ps.	35,436,851	Ps.	35,866,709
Long term		177,666,377		178,242,224
Total	Ps.	213,103,228	Ps.	214,108,933

The Company’s right of use long-term liability maturities as of December 31, 2025 are as follows:

Year ended December 31,

2027	Ps.	31,184,242
2028		31,120,912
2029		27,018,383
2030		23,771,735
2031		23,751,674
2032 and thereafter		41,395,278
Total	Ps.	178,242,224

During the years ended December 31, 2023, 2024 and 2025, the Company recognized expenses as follows:

	2023
	Others		Related parties		Total
Depreciation expense of right-of-use assets	Ps.	15,530,686	Ps.	16,308,364	Ps.	31,839,050
Interest expense on lease liabilities		5,316,141		5,332,443		10,648,584
Expense relating to short-term leases		23,295		—		23,295
Expense relating to leases of low-value assets		1,749		—		1,749
Variable lease payments		67,927		—		67,927
Total	Ps.	20,939,798	Ps.	21,640,807	Ps.	42,580,605

	2024
	Others		Related parties		Total
Depreciation expense of right-of-use assets	Ps.	16,046,897	Ps.	16,354,869	Ps.	32,401,766
Interest expense on lease liabilities		6,055,603		10,539,361		16,594,964
Expense relating to short-term leases		845		—		845
Expense relating to leases of low-value assets		2,288		—		2,288
Variable lease payments		94,352		—		94,352
Total	Ps.	22,199,985	Ps.	26,894,230	Ps.	49,094,215

	2025
	Others		Related parties		Total
Depreciation expense of right-of-use assets	Ps.	19,115,825	Ps.	20,110,242	Ps.	39,226,067
Interest expense on lease liabilities		6,475,350		9,681,402		16,156,752
Expense relating to short-term leases		3,570		—		3,570
Expense relating to leases of low-value assets		7,090		—		7,090
Variable lease payments		38,559		—		38,559
Total	Ps.	25,640,394	Ps.	29,791,644	Ps.	55,432,038

Accounts payable, accrued liabilities and asset retirement obligations

12 Months Ended

Dec. 31, 2025

Accounts payable, accrued liabilities and asset retirement obligations [Abstract]

Accounts payable, accrued liabilities and asset retirement obligations

Note 16. Accounts payable, accrued liabilities and asset retirement obligations

a) The components of the accounts payable are as follows:

	At December 31,
	2024		2025
Suppliers	Ps.	61,741,976	Ps.	63,916,249
Sundry creditors		92,286,367		89,775,754
Interest payable		8,959,701		9,495,482
Guarantee deposits from customers		1,669,103		1,558,765
Dividends payable		2,266,987		2,378,541
Total current	Ps.	166,924,134	Ps.	167,124,791

As of December 31, 2024 and 2025, the Company has recognized non-current accounts payable of Ps.17,224,845 and Ps.19,071,252, respectively; primarily due for obligations related to the acquisition of operating licenses.

b) The balance of accrued liabilities at December 31, 2024 and 2025 are as follows:

	At December 31,
	2024		2025
Current liabilities
Direct employee benefits payable	Ps.	22,080,021	Ps.	22,511,360
Contingencies		34,953,816		43,179,047
Total	Ps.	57,033,837	Ps.	65,690,407

The movements in contingencies for the years ended December 31, 2024 and 2025 are as follows:

Applications

Balance at

December 31,

2024

Balance at

December 31,

2023

Business

combination

Effect of

translation

Increase of

the year

Payments

Reversals

Contingencies

Ps.

34,355,359

Ps.

182,686

Ps.

437,201

Ps.

6,580,005

Ps.

(4,659,801

)

Ps.

(1,941,634

)

Ps.

34,953,816

Applications

Balance at

December 31,

2025

Balance at

December 31,

2024

Business

combination

Effect of

translation

Increase of

the year

Payments

Reversals

Contingencies

Ps.

34,953,816

Ps.

–

Ps.

2,874,092

Ps.

14,049,657

Ps.

(4,837,234

)

Ps.

(3,861,284

)

Ps.

43,179,047

Provisions and contingencies include tax, labor, regulatory and other legal type contingencies. See Note 17 b) for detail of contingencies.

c) The movements in the asset retirement obligations for the years ended December 31, 2024 and 2025 are as follows:

Applications

Balance at

December 31,

2024

Balance at

December 31,

2023

Business

combination

Effect of

translation

Increase of

the year

Payments

Reversals

Asset retirement obligations

Ps.

10,117,928

Ps.

101,101

Ps.

749,725

Ps.

989,544

Ps.

(76,166

)

Ps.

(369,353

)

Ps.

11,512,779

Applications

Balance at

December 31,

2025

Balance at

December 31,

2024

Business

combination

Effect of

translation

Increase of
the year

Payments

Reversals

Asset retirement obligations

Ps.

11,512,779

Ps.

64,391

Ps.

25,314

Ps.

1,025,347

Ps.

(188,120

)

Ps.

(653,796

)

Ps.

11,785,915

The discount rates used for the asset retirement obligation are based on market rates that are expected to be undertaken by the dismantling or restoration of cell sites and may include labor costs.

Commitments and Contingencies

12 Months Ended

Dec. 31, 2025

Commitments and Contingencies [Abstract]

Contingencies

Note 17. Commitments and Contingencies

a) Commitments

The Company and its subsidiaries have commitments that mature on different dates, related to committed capital expenditures, which were not recognized as liabilities in the consolidated statement of financial position.

As of December 31, 2025, the estimated total amounts equivalent to the capital expenditures commitments are detailed below:

Year ended December 31,
2026	Ps.	3,102,567
2027		10,894,098
2028		6,966,441
2029		5,087,931
2030 and 2031		11,654,246
2032 and thereafter		31,109,024
Total	Ps.	68,814,307

b) Provisions and Contingencies

Contingencies

In each of the countries in which we operate, we are party to legal proceedings in the ordinary course of business. These proceedings include tax, labor, antitrust, contractual matters and administrative and judicial proceedings concerning regulatory matters regarding interconnection and tariffs. The following is a description of our material legal proceedings.

(1)	Telcel Mobile Termination Rates

The mobile termination rates between Telcel and other network operators have been the subject of various legal proceedings. With respect to interconnection fees for each of the years 2018 - 2026, Telcel has challenged the applicable resolutions and final resolutions are pending.

Given that the “zero rate” that prevented Telcel from charging termination rates in its mobile network was held unconstitutional by the Supreme Court (Suprema Corte de Justicia de la Nación or “SCJN”), the IFT has determined asymmetric interconnection rates for the termination of traffic in Telcel’s and other operators’ networks from 2018 until 2026. The resolutions setting such rates have been challenged by Telcel, and final resolutions are pending.

The Company expects that mobile termination rates, as well as other rates applicable to mobile interconnection (such as transit), will continue to be the subject of litigation and administrative proceedings. The Company cannot predict when or how these disputes will be resolved or the financial effects of any such resolutions.

(2)	Telcel Class Action Lawsuit

A class action lawsuit was filed against Telcel by customers allegedly affected by Telcel’s quality of service and wireless and broadband rates continues in process. At this stage, the Company cannot assess whether this class action lawsuit could have an adverse effect on the Company’s business and results of operations in the event that it is resolved against Telcel, due to uncertainty about the factual and legal claims underlying this proceeding. Consequently, the Company has not established a provision in the accompanying consolidated financial statements for an eventual loss arising from this proceeding.

(3)	IFT Fine Against Telcel for SIM Card Distribution

On June 17, 2025, Telcel was notified of a resolution issued by the then IFT in connection with an investigation initiated in 2021 at the request of AT&T Comunicaciones Digitales, S. de R.L. de C.V. and certain of its affiliates, for the alleged commission of relative monopolistic practices in the national market for the distribution and commercialization of SIM cards through convenience store chains. Pursuant to this resolution, a fine of Ps.1,782.6 million was imposed on Telcel.

Telcel filed an amparo against the resolution imposing the fine. Notwithstanding the foregoing, the fine was secured to prevent its enforcement, in accordance with applicable laws.

(4)	IRS Audits of TracFone for Tax Years 2013 through 2019

The U.S. Internal Revenue Service (the “IRS”) is conducting audits of certain transfer pricing issues related to transactions with TracFone Wireless, Inc. (a deconsolidated subsidiary since 2021) and has proposed adjustments for tax years 2013 through 2019. In September 2019, we have sought resolution of these adjustments through Mutual Agreement Procedure (“MAP”) requests, asking for consideration by the Competent Authorities of the United States and Mexico. In December 2025, the MAP proceeding was formally concluded with no resolution.

We will continue to strongly disagree with the positions taken by the IRS and intend to vigorously contest the proposed adjustments before the IRS Independent Office of Appeals and, if necessary, before the competent U.S. courts.

The proposed incremental liability for taxes and penalties associated with the adjustments is approximately USD$ 364 million, exclusive of interest.

We believe that adequate reserves have been established for any adjustments that may ultimately result from these audits.

(5)	Brazilian Tax Matters

As of December 31, 2025, certain Company’s Brazilian subsidiaries had aggregate tax contingencies of Ps. 130,738,939 (R$40,039,514) for which the Company has established provisions of Ps. 25,361,197 (R$7,767,005) in the accompanying consolidated financial statements for eventual losses arising from contingencies that the Company considers probable. The most significant matters for which provisions have been established are:

• Ps. 44,569,540 (R$13,649,665) aggregate contingencies and Ps. 3,546,637 (R$1,086,177) provisions related to value-added tax (Imposto sobre a Circulação de Mercadorias e Prestação de Serviços or “ICMS”) assessments;

• Ps. 6,407,200 (R$1,962,240) aggregate contingencies and Ps. 2,446,657 (R$749,302) provisions related to social contribution on net income (Contribuição Social sobre o Lucro Líquido or “CSLL”) and corporate income tax (Imposto de Renda sobre Pessoa Jurídica or “IRPJ”) assessments;

• Ps. 11,254,320 (R$3,446,697) aggregate contingencies and Ps. 5,172,205 (R$ 1,584,016) provisions related to the social integration program (Programa de Integração Social or “PIS”) and the contribution for social security financing (Contribuição para o Financiamento da Seguridade Social or “COFINS”) assessments;

• Ps. 7,774,033 (R$2,380,840) aggregate contingencies and Ps. 861,666 (R$263,890) provisions related to offset’s rejections of tax credits related to Income Tax (Imposto de Renda Pessoa Jurídica o “IRPJ”) and Social Contributions over Profits (Contribuição Social sobre o Lucro Líquido o “CSLL”), arising from non-appelable judicial resolutions, mainly;

• Ps. 16,415,740 (R$ 5,027,410) aggregate contingencies and Ps. 3,146,576 (R$963,656) provisions mainly related to an allegedly improper exclusion of interconnection revenues and costs from the basis used to calculate Fund for Universal Telecommunication Services (Fundo de Universalização dos Serviços de Telecomunicações or “FUST”) obligations, which are being contested;

• Ps. 7,212,410 (R$ 2,208,840) aggregate contingencies and Ps. 715,197 (R$219,033) provisions related to an alleged underpayment of obligations to the Telecommunications Technology Development Fund (Fundo para o Desenvolvimento Tecnológico das Telecomunicações or “FUNTTEL”), which are being challenged and for which a final resolution is pending;

• Ps. 1,869,377 (R$572,507) aggregate contingencies and Ps. 164,872 (R$ 50,493) provisions related to the alleged nonpayment of Services Tax (Imposto Sobre Serviços or “ISS”) over several communication services, including Pay TV services, considered taxable for ISS by the Municipal Revenue Services, which are being challenged and for which a final resolution is pending;

• Ps. 4,504,396 (R$1,379,496) aggregate contingencies and Ps. 3,049,986 (R$934,075) provisions arising from, among other things, the alleged underpayment of IRRF and CIDE taxes and on remittances made to foreign operators as remuneration for completing international calls abroad (outgoing traffic) as well as CIDE audiovisual; and

• Ps. 5,509,632 (R$1,687,355) aggregate contingencies and Ps. 5,476,702 (R$1,677,270) provisions related to the requirement to contribute to the Promotion of Public Radio Broadcasting (“EBC”).

In addition, the Company’s Brazilian subsidiaries are subject to a number of contingencies for which it has not established provisions in the accompanying consolidated financial statements because the Company does not consider the potential losses related to these contingencies to be probable. These include Ps. 23,537,575 (R$ 7,208,511) related to an unpaid installation inspection rate (Taxa de Fiscalização de Instalação or “TFI”) allegedly due to the renovation of radio base stations, which is being challenged on the basis that there was no new equipment installation that could have led to this charge, along with any unpaid functioning inspection rate (Taxa de Fiscalização de Funcionamento or “TFF”).

(6)	Anatel Challenge to Inflation Adjustments

Anatel has challenged the calculation of inflation-related adjustments due under the concession agreements with Tess S.A. (“Tess”), and Algar Telecom Leste S.A. (“ATL”), two of the Company’s subsidiaries that were previously merged into Claro S.A. Anatel rejected Tess and ATL’s calculation of the inflation-related adjustments applicable to 60% of the concessions price (which was due in three equal annual installments, subject to inflation-related adjustments and interest), claiming that the companies’ calculation of the inflation related adjustments resulted in a shortfall of the installment payments. The companies filed declaratory and consignment actions seeking the resolution of the disputes and have obtained injunctions from the Federal Court of Appeal suspending any payment until the pending appeals are resolved. After certain unfavorable resolutions issued by the Federal Court of Appeals to the appeals filed by such companies, new appeals have been filed before the Superior Court of Appeals for which definitive resolutions are pending.

The amount of the alleged shortfall as well as the method used to calculate monetary corrections are in dispute. If other methods or assumptions are applied, the amount may increase. In 2025, Anatel calculated the monetary correction in a total amount of Ps. 16,236,337 (R$ 4,972,467). As of December 31, 2025, the Company has established a provision of Ps. 6,231,892 (R$ 1,908,551) in the accompanying consolidated financial statements for the losses arising from these contingencies, which the Company considers probable.

Employee Benefits

12 Months Ended

Dec. 31, 2025

Employee Benefits [Abstract]

Employee Benefits

Note 18. Employee Benefits

An analysis of the net liability and net period cost for employee benefits is as follows:

	At December 31,
	2024		2025
Mexico	Ps.	145,277,743	Ps.	185,512,908
Puerto Rico		6,954,741		4,446,433
Brazil		5,411,258		4,586,624
Europe		8,578,927		7,921,323
Ecuador		654,465		646,490
El Salvador		165,653		167,556
Nicaragua		71,266		74,063
Honduras		38,388		31,287
Total	Ps.	167,152,441	Ps.	203,386,684

	For the year ended December 31,
	2023		2024				2025
Mexico	Ps.	14,601,940		Ps.	16,074,164		Ps.	18,469,482
Puerto Rico		170,389			535,051			508,862
Brazil		369,624			(228,547	)		165,103
Europe		1,750,101			1,755,407			2,190,588
Ecuador		40,498			65,123			71,135
El Salvador		15,190			16,430			20,332
Nicaragua		10,937			13,387			13,092
Honduras		13,257			1,527			6,288
Total	Ps.	16,971,936		Ps.	18,232,542		Ps.	21,444,882

a) Defined Benefit Plans

The defined benefit obligation (DBO) and plan assets for the pension and other benefit obligation plans, by country, are as follows:

	At December 31
	2024									2025
						Effect of asset		Net employee							Effect of asset		Net employee
	DBO		Plan Assets			ceiling		benefit liability		DBO		Plan Assets			ceiling		benefit liability
Mexico	Ps.	303,027,238	Ps.	(159,328,024	)	Ps.	—	Ps.	143,699,214	Ps.	343,620,613	Ps.	(160,323,036	)	Ps.	—	Ps.	183,297,577
Puerto Rico		24,608,173		(17,653,432	)		—		6,954,741		21,444,857		(16,998,424	)		—		4,446,433
Brazil		12,113,660		(13,054,352	)		4,481,044		3,540,352		12,498,399		(12,834,952	)		3,980,671		3,644,118
Europe		3,379,389		—			—		3,379,389		3,065,854		—			—		3,065,854
Total	Ps.	343,128,460	Ps.	(190,035,808	)	Ps.	4,481,044	Ps.	157,573,696	Ps.	380,629,723	Ps.	(190,156,412	)	Ps.	3,980,671	Ps.	194,453,982

Below is a summary of the actuarial results generated for the pension and retirement plans as well as the medical services in Puerto Rico and Brazil; the pension plans and seniority premiums related to Telmex; the pension plan, the service awards plan and severance in Austria corresponding to the years ended December 31, 2023, 2024 and 2025:

	At December 31, 2023
	DBO			Plan Assets			Effect of asset ceiling			Net employee benefit liability
Balance at the beginning of the year	Ps.	330,862,941		Ps.	(208,526,619	)	Ps.	6,064,069		Ps.	128,400,391
Current service cost		2,044,102			—			—			2,044,102
Interest cost on projected benefit obligation		33,203,706			—			—			33,203,706
Expected return on plan assets		—			(20,251,931	)		—			(20,251,931	)
Changes in the asset ceiling during the period and others		—			—			585,667			585,667
Past service costs and other		(322,700	)		145,646			—			(177,054	)
Actuarial gain for changes in experience		(20,645	)		—			—			(20,645	)
Actuarial gain from changes in demographic assumptions		134			—			—			134
Actuarial gain from changes in financial assumptions		30,958			—			—			30,958
Net period cost	Ps.	34,935,555		Ps.	(20,106,285	)	Ps.	585,667		Ps.	15,414,937
Actuarial loss for changes in experience		10,632,144			—			—			10,632,144
Actuarial loss from changes in demographic assumptions		(430,315	)		—			—			(430,315	)
Actuarial gain from changes in financial assumptions		1,900,436			—			—			1,900,436
Changes in the asset ceiling during the period and others		—			—			(2,247,990	)		(2,247,990	)
Return on plan assets greater than discount rate (shortfall)		—			(6,210,593	)		—			(6,210,593	)
Recognized in other comprehensive income	Ps.	12,102,265		Ps.	(6,210,593	)	Ps.	(2,247,990	)	Ps.	3,643,682
Contributions made by plan participants		45,404			(45,404	)		—			—
Contributions to the pension plan made by the Company		—			(10,853	)		—			(10,853	)
Benefits paid		(27,844,968	)		27,547,809			—			(297,159	)
Payments to employees		(10,868,600	)		—			—			(10,868,600	)
Plan changes		(29,383	)		—			—			(29,383	)
Effect of translation		(4,745,061	)		3,259,358			(346,706	)		(1,832,409	)
Others	Ps.	(43,442,608	)	Ps.	30,750,910		Ps.	(346,706	)	Ps.	(13,038,404	)
Balance at the end of the year		334,458,153			(204,092,587	)		4,055,040			134,420,606
Less short-term portion		(232,102	)		—			—			(232,102	)
Non-current obligation	Ps.	334,226,051		Ps.	(204,092,587	)	Ps.	4,055,040		Ps.	134,188,504

	At December 31, 2024
	DBO			Plan Assets			Effect of asset ceiling			Net employee benefit liability
Balance at the beginning of the year	Ps.	334,458,153		Ps.	(204,092,587	)	Ps.	4,055,040		Ps.	134,420,606
Current service cost		1,889,699			—			—			1,889,699
Interest cost on projected benefit obligation		34,540,808			—			—			34,540,808
Expected return on plan assets		—			(20,306,050	)		—			(20,306,050	)
Changes in the asset ceiling during the period and others		—			—			357,182			357,182
Past service costs and other		(103,657	)		139,115			—			35,458
Actuarial gain for changes in experience		(42,968	)		—			—			(42,968	)
Actuarial loss from changes in financial assumptions		(23,068	)		—			—			(23,068	)
Net period cost	Ps.	36,260,814		Ps.	(20,166,935	)	Ps.	357,182		Ps.	16,451,061
Actuarial loss for changes in experience		13,338,950			—			—			13,338,950
Actuarial gain from changes in demographic assumptions		(3,654	)		—			—			(3,654	)
Actuarial loss from changes in financial assumptions		(3,018,488	)		—			—			(3,018,488	)
Changes in the asset ceiling during the period and others		—			—			345,672			345,672
Return on plan assets greater than discount rate (shortfall)		—			20,947,473			—			20,947,473
Recognized in other comprehensive income	Ps.	10,316,808		Ps.	20,947,473		Ps.	345,672		Ps.	31,609,953
Contributions made by plan participants		40,319			(40,319	)		—			—
Contributions to the pension plan made by the Company		—			(548,872	)		—			(548,872	)
Benefits paid		(16,298,480	)		15,970,322			—			(328,158	)
Payments to employees		(24,325,925	)		—			—			(24,325,925	)
Plan changes		(847,269	)		—						(847,269	)
Effect of translation		3,816,947			(2,104,890	)		(276,850	)		1,435,207
Others	Ps.	(37,614,408	)	Ps.	13,276,241		Ps.	(276,850	)	Ps.	(24,615,017	)
Balance at the end of the year		343,421,367			(190,035,808	)		4,481,044			157,866,603
Less short-term portion		(292,907	)		—			—			(292,907	)
Non-current obligation	Ps.	343,128,460		Ps.	(190,035,808	)	Ps.	4,481,044		Ps.	157,573,696

	At December 31, 2025
	DBO			Plan Assets			Effect of asset ceiling			Net employee benefit liability
Balance at the beginning of the year	Ps.	343,421,367		Ps.	(190,035,808	)	Ps.	4,481,044		Ps.	157,866,603
Current service cost		1,734,007			—			—			1,734,007
Interest cost on projected benefit obligation		35,248,608			—			—			35,248,608
Expected return on plan assets		—			(18,507,640	)		—			(18,507,640	)
Changes in the asset ceiling during the period and others		—			—			537,729			537,729
Past service costs and other		(8,463	)		144,253			—			135,790
Actuarial gain for changes in experience		(47,141	)		—			—			(47,141	)
Actuarial loss from changes in demographic assumptions		586			—			—			586
Actuarial gain from changes in financial assumptions		(21,087	)		—			—			(21,087	)
Net period cost	Ps.	36,906,510		Ps.	(18,363,387	)	Ps.	537,729		Ps.	19,080,852
Actuarial loss for changes in experience		45,254,349			—			—			45,254,349
Actuarial gain from changes in demographic assumptions		(29,753	)		—			—			(29,753	)
Actuarial loss from changes in financial assumptions		426,187			—			—			426,187
Changes in the asset ceiling during the period and others		—			—			(1,053,402	)		(1,053,402	)
Return on plan assets greater than discount rate (shortfall)		—			(7,272,626	)		—			(7,272,626	)
Recognized in other comprehensive income	Ps.	45,650,783		Ps.	(7,272,626	)	Ps.	(1,053,402	)	Ps.	37,324,755
Contributions made by plan participants		40,961			(40,961	)		—			—
Contributions to the pension plan made by the Company		—			(957,068	)		—			(957,068	)
Benefits paid		(24,728,015	)		24,381,561			—			(346,454	)
Payments to employees		(17,587,028	)		10,558			—			(17,576,470	)
Effect of translation		(2,792,758	)		2,121,319			15,300			(656,139	)
Others	Ps.	(45,066,840	)	Ps.	25,515,409		Ps.	15,300		Ps.	(19,536,131	)
Balance at the end of the year		380,911,820			(190,156,412	)		3,980,671			194,736,079
Less short-term portion		(282,097	)		—			—			(282,097	)
Non-current obligation	Ps.	380,629,723		Ps.	(190,156,412	)	Ps.	3,980,671		Ps.	194,453,982

In the case of other subsidiaries in Mexico, the net period cost of other employee benefits for the years ended December 31, 2023, 2024 and 2025 was Ps. 120,843, Ps.657,868 and Ps. 413,304 respectively. The balance of other employee benefits at December 31, 2024 and 2025 was Ps. 1,578,529 and Ps. 2,215,331 respectively.

In the case of Brazil, the net period cost of other benefits for the years ended December 31, 2023, 2024 and 2025 was Ps. 82,870, Ps. (685,287), and Ps.(232,618) respectively. The balance of employee benefits at December 31, 2024 and 2025 was Ps. 1,831,600 and Ps. 908,888, respectively.

In the case of Ecuador, the net period cost of other benefits for the years ended December 31, 2023, 2024 and 2025 was Ps. 40,498, Ps. 65,123 and Ps. 71,135 respectively. The balance of employee benefits at December 31, 2024 and 2025 was Ps. 654,465 and Ps. 646,490, respectively.

In the case of Central America, the net period cost of other benefits for the years ended December 31, 2023, 2024 and 2025 was Ps. 39,384, Ps. 31,344 and Ps. 39,712, respectively. The balance of employee benefits at December 31, 2024 and 2025 was Ps. 275,307 and Ps. 272,906, respectively.

Plan assets are invested in:

At December 31

	2024									2025
	Puerto Rico			Brazil			Mexico			Puerto Rico			Brazil			Mexico
Equity instruments		53	%		—			76	%		59	%		—			72	%
Debt instruments		12	%		93	%		24	%		11	%		94	%		28	%
Others		35	%		7	%		—			30	%		6	%		—
		100	%		100	%		100	%		100	%		100	%		100	%

Included in the Telmex’s net pension plan liability are plan assets of Ps. 159,328,024 and Ps. 160,323,036 as of December 31, 2024 and 2025, respectively, of which 45.8% and 45.3% during 2024 and 2025, respectively, were invested in equity and debt instruments of both América Movil and also of related parties, primarily entities that are under common control of the Company’s principal shareholder. The Telmex pension plan recorded a re-measurement of its defined pension plan of Ps. 33,858,384 and Ps. 38,637,097 during 2024 and 2025, respectively, attributable to a change in actuarial assumptions, and also a decrease in the fair value of plan investments from December 31, 2024 to December 31, 2025. The variation in fair value of the aforementioned related party pension plan investments approximated Ps. 21,428,270 and Ps. (6,039,397) during the years ended December 31, 2024 and 2025, respectively.

The assumptions used in determining the net period cost were as follows:

	2023												2024												2025
	Puerto Rico			Brazil			Mexico			Europe			Puerto Rico			Brazil			Mexico			Europe			Puerto Rico			Brazil			Mexico			Europe
Discount rate and long- term rate return		5.13	%		9.050% & 9.20	%		11.65	%		3.25	%		5.58	%		11.4% & 11.07	%		11.43	%		2.75	%		5.30	%		11.05% & 11.44	%		9.85	%		2.75	%
Rate of future salary increases		2.00	%		3.50	%		2.8	%		6.0%, & 3.6%, - 5.4	%		2.00	%		3.5	%		2.8	%		3.8% - 4.4% & 2.9% - 3.8	%		2.0	%		3.50	%		2.8	%		3.2% & 2.60% - 2.80	%
Percentage of increase in health care costs for the coming year		5.13	%		9.71	%								5.53	%		9.71	%								5.18	%		9.71	%
Year to which this level will be maintained	NA				2032								NA				2033								NA				2033
Rate of increase of pensions											2.50	%											1.70	%											1.60	%
Employee turnover rate*											0.00%-0.91	%											0.00%-0.90	%											0.0%- 0.87	%

*	Depending on years of service

Biometric

Puerto Rico:

Mortality:

RPI 2012, MSS 2024 Tables.

Brazil:

Mortality:

2000 Basic AT Table for gender

Disability for assets:

UP 84 modified table for gender

Disability retirement:

80 CSO Code Table

Rotation:

Probability of leaving the Company other than death, Disability and retirement is zero

Europe

Life expectancy in Austria is base on “AVÖ 2018-P – Rechnungsgrundlagen für die Pensionsversicherung – Pagler & Pagler”.

Telmex

Mortality:

Mexican 2000 (CNSF) adjusted

Disability:

Mexican Social Security adjusted by Telmex experience

Turnover:

Telmex experience

Retirement:

Telmex experience

For the year ended December 31, 2025, the Company conducted a sensitivity analysis on the most significant variables that affect the DBO liability, simulating independently, reasonable changes to roughly 100 basis points in each of these variables. The increase (decrease) in the DBO pension and other benefits liability at December 31, 2025 are as follows:

	-100 points			+100 points
Discount rate	Ps.	29,611,395		Ps.	(20,782,860	)
Health care cost trend rate	Ps.	(254,950	)	Ps.	287,048

Telmex Plans

Part of the Telmex´s employees are covered under defined benefit pension plans and seniority premiums. Pension benefits and seniority premiums are determined on the basis in their final year of employment, their seniority, and their age at the time of retirement. Telmex has set up an irrevocable trust fund to finance these employee benefits and has adopted the policy of making contributions to such fund when it is considered necessary.

Europe

Defined benefit pension plans

A1 Telekom Austria Group provides defined benefits for certain former employees in Austria. All eligible employees are retired and were employed prior to January 1, 1975. This unfunded plan provides benefits based on a percentage of salary and years employed, not exceeding 80% of the salary before retirement, and taking into consideration the pension provided by the social security system. A1 Telekom Austria Group is exposed primarily to the risk of development of life expectancy and inflation because the benefits from pension plans are lifetime benefits.

Service awards

Civil servants and certain employees (in the following “employees”) are eligible to receive service awards. In accordance with the legal regulations, eligible employees receive a cash bonus of two months’ salary after 25 years of service and four months’ salary after 40 years of service. Employees with at least 35 years of service when retiring (at the age of 65) or who are retiring based on specific legal regulations are also eligible to receive the service award of four monthly salaries. The obligation is accrued over the period of service, taking into account the employee turnover rate for employees who leave employment prematurely. The main risk that A1 Telekom Austria Group is exposed to is the risk of development of salary increases and changes of interest rates.

Severance

Defined contribution plans

Employees who started work for A1 Telekom Austria Group in Austria on or after January 1, 2003 are covered by a defined contribution plan. As of December 31, 2024 and 2025, A1 Telekom Austria Group paid Ps. 87,323 and Ps. 106,626 respectively, 1.53% of the salary or wage, into this defined contribution plan (BAWAG Allianz Mitarbeitervorsorgekasse AG).

Defined benefit plans

Severance benefit obligations for employees, whose employment commenced before January 1, 2003, excluding civil servants, are covered by defined benefit plans. Upon termination of employment by A1 Telekom Austria Group or upon retirement, eligible employees receive severance payments. Depending on their time in service, their severance amounts to a multiple of their monthly basic compensation plus variable components such as overtime or bonuses, up to a maximum of twelve monthly salaries. In case of death, the heirs of eligible employees receive 50% of the severance benefits. The primary risks to A1 Telekom Austria Group are salary increases and changes of interest rates.

b) Defined Contribution Plans

Brazil

Claro, S.A. makes contributions to the DCP through Embratel Social Security Fund – Telos. Contributions are computed based on the salaries of the employees, who decide on the percentage of their contributions to the plan (participants enrolled before October 31st, 2014 is from 1% to 8% and, for those subscribed after that date, the contribution is from 1% to 7% of their salaries). Claro contributes the same percentage as the employee, capped at 8% of the participant’s balance for the employees that are eligible to participate in this plan.

At December 31, 2024 and 2025, the balance of the DCP liability was Ps. 39,306 and Ps. 33,616 respectively. For the years ended December 31, 2023, 2024 and 2025 the cost of labor were Ps. 3,846, Ps. 3,046 and Ps. 2,672, respectively.

Europe

In Austria, pension benefits are generally provided by the social security system for employees, and by the government for civil servants. The contributions of 12.55% of gross salaries that A1 Telekom Austria Group made in 2024 and 2025 to the social security system and the government in Austria amount to Ps. 1,169,174 and Ps. 1,263,523 respectively. In 2024 and 2025, contributions of the foreign subsidiaries into the respective systems range between 8.85% and 28% of gross salaries and amount to Ps. 651,574 and Ps. 795,866 respectively.

Additionally, A1 Telekom Austria Group offers a defined contribution plan for employees of some of its Austrian subsidiaries. A1 Telekom Austria Group’s contributions to this plan are based on a percentage of the compensation not exceeding 5%. In 2024 and 2025, the annual expenses for this plan amounted to Ps. 211,733 and Ps. 234,121 respectively.

As of December 31, 2024 and 2025, the liability related to this defined contribution plan amounted to Ps. 154,380 and Ps. 254,510, respectively.

Other countries

For the rest of the countries where the Company operates and that do not have defined benefit plans or defined contribution plans, the Company makes contributions to the respective governmental social security agencies which are recognized in results of operations as they are incurred.

c) Long-term direct employee benefits

Balance at

December 31,

2023

Effect of

translation

Increase of

the year

Payments

Balance at

December 31,

2024

Direct employee benefits

Ps.

5,389,795

Ps.

619,696

Ps.

1,102,643

Ps.

(2,066,976

)

Ps.

5,045,158

Balance at

December 31,

2024

Effect of

translation

Increase of

the year

Payments

Balance at

December 31,

2025

Direct employee benefits

Ps.

5,045,158

Ps.

37,196

Ps.

1,910,231

Ps.

(2,391,624

)

Ps.

4,600,961

In 2008, a comprehensive restructuring program was initiated in the Austria operation. The provision for restructuring includes future compensation of employees who will no longer provide services for A1 Telekom Austria Group but who cannot be laid off due to their status as civil servants. These employment contracts are onerous contracts under IAS 37, as the unavoidable cost related to the contractual obligation exceeds the future economic benefit. The restructuring program also includes social plans for employees whose employment will be terminated in a socially responsible way. In 2009 and every year from 2011 to 2020, new social plans were initiated that provide for early retirement, special severance packages and golden handshake options. Due to their nature as termination benefits, these social plans are accounted for according to IAS 19.

Financial Assets and Liabilities

12 Months Ended

Dec. 31, 2025

Financial Assets and Liabilities [Abstract]

Financial Assets and Liabilities

Note 19. Financial Assets and Liabilities

Set out below is the categorization of the financial instruments, excluding cash and cash equivalents, held by the Company as of December 31, 2024 and 2025:

	December 31, 2024
	Loans and Receivables		Fair value through profit or loss		Fair value through OCI
Financial Assets:
Equity investments at fair value through OCI and other short-term investments (Note 4)	Ps.	—	Ps.	—	Ps.	46,683,687
Accounts receivable from subscribers, distributors and other (Note 5)		179,615,497		—		—
Related parties (Note 6)		1,395,483		—		—
Derivative financial instruments (Note 7)		—		10,668,460		—
Debt instruments at fair value through OCI (Note 4)		—		—		13,908,873
Total	Ps.	181,010,980	Ps.	10,668,460	Ps.	60,592,560

Financial Liabilities:
Debt (Note 14)	Ps.	567,585,631	Ps.	—	Ps.	—
Liability related to right-of-use of assets (Note 15)		213,103,228		—		—
Accounts payable (Note 16)		184,148,979		—		—
Related parties (Note 6)		3,701,960		—		—
Derivative financial instruments (Note 7)		—		22,185,709		—
Total	Ps.	968,539,798	Ps.	22,185,709	Ps.	—

	December 31, 2025
	Loans and Receivables		Fair value through profit or loss		Fair value through OCI
Financial Assets:
Equity investments at fair value through OCI and other short-term investments (Note 4)	Ps.	—	Ps.	—	Ps.	42,430,014
Accounts receivable from subscribers, distributors and other (Note 5)		189,258,269		—		—
Related parties (Note 6)		1,247,942		—		—
Derivative financial instruments (Note 7)		—		2,417,009		—
Debt instruments at fair value through OCI (Note 4)		—		—		18,086,886

Total	Ps.	190,506,211	Ps.	2,417,009	Ps.	60,516,900

Financial Liabilities:
Debt (Note 14)	Ps.	524,906,860	Ps.	—	Ps.	—
Liability related to right-of-use of assets (Note 15)		214,108,933		—		—
Accounts payable (Note 16)		186,196,043		—		—
Related parties (Note 6)		3,263,615		—		—
Derivative financial instruments (Note 7)		—		16,132,182		—

Total	Ps.	928,475,451	Ps.	16,132,182	Ps.	—

Fair value hierarchy

The Company’s valuation techniques used to determine and disclose the fair value of its financial instruments are based on the following hierarchy:

Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities;

Level 2: Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable; and

Level 3: Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable.

The fair value for the assets (excluding cash and cash equivalents) and financial liabilities shown in the consolidated statements of financial position at December 31, 2024 and 2025 is as follows:

	Measurement of fair value at December 31, 2024
	Level 1		Level 2		Level 3		Total
Assets:
Equity investments at fair value through OCI and other short-term investments (Note 4)	Ps.	46,683,687	Ps.	—	Ps.	—	Ps.	46,683,687
Derivative financial instruments (Note 7)		—		10,668,460		—		10,668,460
Total current assets		46,683,687		10,668,460		—		57,352,147
Revalued assets (Note 10)		—		—		10,457,088		10,457,088
Pension plan assets (Note 18)		175,241,382		14,754,046		40,380		190,035,808
Debt instruments at fair value through OCI (Note 4)		—		13,908,873		—		13,908,873
Total non-current assets		175,241,382		28,662,919		10,497,468		214,401,769
Total	Ps.	221,925,069	Ps.	39,331,379	Ps.	10,497,468	Ps.	271,753,916

Liabilities:
Debt	Ps.	453,237,685	Ps.	90,095,061	Ps.	—	Ps.	543,332,746
Liability related to right-of-use of assets (Note 15)		213,103,228		—		—		213,103,228
Derivative financial instruments (Note 7)		—		22,185,709		—		22,185,709
Total	Ps.	666,340,913	Ps.	112,280,770	Ps.	—	Ps.	778,621,683

	Measurement of fair value at December 31, 2025
	Level 1		Level 2		Level 3		Total
Assets:
Equity investments at fair value through OCI and other short-term investments (Note 4)	Ps.	42,430,014	Ps.	—	Ps.	—	Ps.	42,430,014
Derivative financial instruments (Note 7)		—		2,417,009		—		2,417,009
Total current assets		42,430,014		2,417,009		—		44,847,023
Revalued of assets (Note 10)		—		—		10,151,050		10,151,050
Pension plan assets (Note 18)		176,263,162		13,856,942		36,308		190,156,412
Debt instruments at fair value through OCI (Note 4)		—		18,086,886		—		18,086,886
Total non-current assets		176,263,162		31,943,828		10,187,358		218,394,348
Total	Ps.	218,693,176	Ps.	34,360,837	Ps.	10,187,358	Ps.	263,241,371

Liabilities:
Debt	Ps.	431,359,900	Ps.	90,142,638	Ps.	—	Ps.	521,502,538
Liability related to right-of-use of assets (Note 15)		214,108,933		—		—		214,108,933
Derivative financial instruments (Note 7)		—		16,132,182		—		16,132,182
Total	Ps.	645,468,833	Ps.	106,274,820	Ps.	—	Ps.	751,743,653

Fair value of derivative financial instruments is valued using valuation techniques with market observable inputs. To determine its Level 2 fair value, the Company applies different valuation techniques including forward pricing and swaps models, using present value calculations. The models incorporate various inputs including credit quality of counterparties, foreign exchange spot and forward rates and interest rate curves. Fair value of debt Level 2 has been determined using a model based on present value calculation incorporating credit quality of AMX. Until September 2024 the fair value of the company VTR bonds in America Movil B.V. as debt instruments at fair value through OCI, were classified as Level 1 in order they are guaranteed with shares listed on the regulated market. The Company’s investment in equity investments at fair value, specifically the investment in Verizon in 2024 and 2025, and BT Group in 2025, are valued using the quoted prices (unadjusted) in active markets for identical assets. The net realized (loss) gain related to derivative financial instruments for the years ended December 31, 2024 and 2025 was Ps. (2,111,926) and Ps. 7,490,018 respectively.

The fair value of the asset revaluation was calculated using valuation techniques, using observable market data and internal information on transactions carried out with independent third parties. To determine fair value we use level 2 and 3 information, the Company used inputs such as average rents, contract term and discount rates for discounted flow modeling techniques; in the case of discount rates, we use level 2 data where the information is public and is found in recognized databases, such as country risks, inflation, etc. In the case of level 3 data, the information is mainly internal based on lease contracts entered into with independent third parties.

During the end of the period ended December 31, 2024 and 2025, there were no transfers between the Level 1, Level 2 and Level 3 fair value measurement hierarchies.

Changes in liabilities arising from financing activities

	At December 31, 2023			Cash flow				Foreign currency exchange and other			At December 31, 2024

Debt		Ps.	500,677,052		Ps.	29,309,744			Ps.	37,598,835		Ps.	567,585,631
Liability related to right-of-use of assets			125,169,156			(45,285,610	)			133,219,682			213,103,228
Total liabilities from financing activities		Ps.	625,846,208		Ps.	(15,975,866	)		Ps.	170,818,517		Ps.	780,688,859

	At December 31, 2024		Cash flow				Foreign currency exchange and other				At December 31, 2025

Debt	Ps.	567,585,631		Ps.	(18,388,465	)		Ps.	(24,290,306	)		Ps.	524,906,860
Liability related to right-of-use of assets		213,103,228			(51,585,889	)			52,591,594				214,108,933
Total liabilities from financing activities	Ps.	780,688,859		Ps.	(69,974,354	)		Ps.	28,301,288			Ps.	739,015,793

Non-cash consideration

On March 2, 2024, the Company’s € 2.1 billion (Ps.37.9 billion) bond exchangeable into KPN shares matured. Prior to maturity, the Company received notification from all bondholders exercising their right to call the KPN shares at the strike price of € 3.1185. The Company delivered its KPN shares to the bondholders and has ceased to have an equity investment in KPN. In connection with this transaction, the Company recognized a loss in the consolidated statements of comprehensive income of Ps.2.6 billion. The non-cash transaction related to the derecognition of exchangeable bonds through the conversion of KPN shares amounted to Ps.34,569,415.

Shareholders' equity

12 Months Ended

Dec. 31, 2025

Shareholders' equity [Abstract]

Shareholders' Equity

Note 20. Shareholders’ equity

a) Pursuant to the Company’s bylaws as of December 31, 2025 the capital stock of the Company consisted of a minimum fixed portion of Ps. 231,290 (nominal amount), represented as of December 31, 2025 by a total of 61,245,000,000 shares (including treasury shares available for placement in accordance with the provisions of the Mexican Securities Market Law (Ley del Mercado de Valores)), all of them “B” shares.

b) As of December 31, 2025 and 2024, the Company’s capital stock was represented by 60,263,500,000 outstanding “B” shares and 61,000,000,000 outstanding “B” shares, respectively.

c) As of December 31, 2025 and 2024, the Company’s treasury held for placement in accordance with the provisions of the Mexican Securities Market Regulations (Disposiciones de carácter general aplicables a las emisoras de valores y a otros participantes en el Mercado de valores) issued by the National Banking and Securities Commission (Comisión Nacional Bancaria y de Valores), a total amount of 981,500,000 series “B” shares and 245,000,000 series “B” shares, respectively, acquired pursuant to the Company’s share repurchase program.

d) Company’s “B” shares are registered common and no-par value shares with full voting rights.

Dividends

On May 14, 2025, the Company’s shareholders approved, among other resolutions, the payment of a dividend of Ps.0.52 (fifty-two peso cents) per share to each of the shares of its capital stock. It was approved, that such dividend would be paid in two installments of Ps.0.26 (twenty-six peso cents) each, on July 14 and November 10, 2025, respectively.

On April 29, 2024, the Company’s shareholders approved, among other resolutions, the payment of a dividend of Ps.0.48 (forty-eight peso cents) per share to each of the shares of its capital stock. It was approved, that such dividend would be paid in two installments of Ps.0.24 (twenty four peso cents) each, on July 15 and November 11, 2024, respectively.

Legal reserve

According to the Mexican Corporations General Law (Ley General de Sociedades Mercantiles), companies must allocate from the net profit of each year, at least 5% to increase the legal reserve until it reaches 20% of its capital stock (nominal amount). This reserve may not be distributed to shareholders during the existence of the Company, except as a stock dividend. As of December 31, 2025 and December 31, 2024, the legal reserve amounted to Ps. 358,440.

Restrictions on certain transactions

Pursuant to the Company’s bylaws any transfer of more than 10% of the Company’s shares, effected in one or more transactions by any person or group of persons acting in concert, requires prior approval by our Board of Directors. However, if the Board of Directors denies such approval, the Company’s bylaws require it to designate an alternate transferee, who must pay market price for the shares as quoted on the Bolsa Mexicana de Valores, S.A.B. de C.V.

Payment of dividends

Dividends paid in cash, with respect to the “B” shares or “B” share ADSs will generally be subject to a 10% Mexican withholding tax (provided that no Mexican withholding tax will apply to distributions of net taxable profits generated before 2014). Non-resident holders could be subject to a lower tax rate, to the extent that they are eligible for benefits under an income tax treaty to which Mexico is a party.

Repurchase of shares

On May 14, 2025, the Company’s annual shareholders meeting authorized an amount of Ps.10 billion to repurchase the Company’s own shares. During the fiscal year ended on December 31, 2025, the Company repurchased 736,500,000 series “B” shares. At the end of 2025, the Company had in treasury 981,500,000 series “B” shares.

Earnings per share

The following table shows the computation of the basic and diluted earnings per share:

	For the years ended December 31,
	2023			2024			2025
Net profit for the period attributable to equity holders of the parent		Ps.	76,110,617		Ps.	22,902,025		Ps.	82,819,082
Weighted average shares (in millions)			63,049			61,723			60,544

Earnings per share attributable to equity holders of the parent		Ps.	1.21		Ps.	0.37		Ps.	1.37

Components of other comprehensive (loss) income

12 Months Ended

Dec. 31, 2025

Components of other comprehensive (loss) income [Abstract]

Components of other comprehensive (loss) income

Note 21. Components of other comprehensive (loss) income

The movement on the components of the other comprehensive (loss) income for the years ended December 31, 2023, 2024 and 2025 is as follows:

	For the years ended December 31,
	2023				2024				2025
Controlling interest:
Unrealized (loss) gain on equity investments at fair value, net of deferred taxes		Ps.	(967,609	)		Ps.	3,485,814			Ps.	(1,639,179	)
Translation effect of foreign entities			(37,399,680	)			55,098,397				(18,772,267	)
Remeasurement of defined benefit plan, net of deferred taxes			(3,662,102	)			(27,929,881	)			(26,414,854	)
Assets revaluation surplus net of deferred taxes			497,628				945,822				455,357
Non-controlling interest of the items above			(3,885,410	)			7,844,264				(205,123	)

Other comprehensive (loss) income		Ps.	(45,417,173	)		Ps.	39,444,416			Ps.	(46,576,066	)

Valuation of derivatives, interest cost from labor obligations and other financial items, net

12 Months Ended

Dec. 31, 2025

Valuation of derivatives, interest cost from labor obligations and other financial items, net [Abstract]

Valuation of derivatives, interest cost from labor obligations and other financial items, net

Note 22. Valuation of derivatives, interest cost from labor obligations and other financial items, net

For the years ended December 31, 2023, 2024 and 2025, valuation of derivatives and other financial items are as follows:

	For the years ended December 31,
	2023				2024				2025

Loss in valuation of derivatives, net (Note 7)		Ps.	(10,268,520	)		Ps.	(2,141,802	)		Ps.	(697,393	)
Capitalized interest expense (Note 10 c)			1,442,077				1,622,958				1,569,608
Commissions			(1,190,435	)			(1,787,308	)			(1,524,206	)
Interest cost of labor obligations (Note 18)			(13,573,881	)			(14,116,698	)			(17,258,864	)
Contractual earn-out from business combination (Note 4)			2,206,671				14,856				—
Interest expense on taxes			(220,983	)			(938,834	)			(354,218	)
Recognized dividend income ⁽¹⁾ (Note 4)			4,551,827				2,779,138				3,015,648
Loss on exchange of KPN shares (Note 4)			—				(2,566,239	)			—
Contractual compensation from business combination			(647,013	)			—				—
Loss from the acquisition of Claro Chile, SpA (Note 12 a)			—				(781,355	)			—
Impairment to notes receivable from joint venture (Note 12 b)			(12,184,562	)			(4,594,792	)			—
Recycling valuation of VTR Bonds			—				4,674,598				—
Impairment of joint venture (Note 12 b)			(4,677,782	)			—				—
Allowance of doubtful accounts ⁽²⁾			(1,051,288	)			(1,324,469	)			(864,752	)
Gain on net monetary positions			9,321,480				27,387,169				5,420,274
Payment of Tax Compensations			—				(293,365	)			—
Contractual compensation from Verizon			—				—				(3,940,030	)
Commissions and other interest			—				(1,258,907	)			(2,007,106	)
Other financial cost			(522,259	)			(1,056,110	)			(1,665,223	)

Total		Ps.	(26,814,668	)		Ps.	5,618,840			Ps.	(18,306,262	)

⁽¹⁾

Dividend received during 2023, 2024 and 2025 by, Ps.4,590,313, Ps.2,779,138, and Ps.3,015,648 respectively.

⁽²⁾

This figure is related to certain uncollectible balances.

Segments

12 Months Ended

Dec. 31, 2025

Segments [Abstract]

Segments

Note 23. Segments

América Móvil operates in different countries. As mentioned in Note 1, the Company has operations in Mexico, Guatemala, Nicaragua, Ecuador, El Salvador, Costa Rica, Brazil, Argentina, Colombia, Honduras, Peru, Paraguay, Uruguay, Chile, the Dominican Republic, Puerto Rico, Austria, Croatia, Bulgaria, Belarus, Macedonia, Serbia and Slovenia. The accounting policies for the segments are the same as those described in Note 2.

The Chief Executive Officer, who is the CODM, analyzes the financial and operating information by operating segment. All operating segments that (i) represent more than 10% of consolidated revenues, (ii) more than the absolute amount of its reported 10% of net profit of the year or (iii) more than 10% of consolidated assets, are presented separately.

The Company presents the following reportable segments for the purposes of its consolidated financial statements: Mexico (includes Telcel and corporate operations and assets), Telmex (Mexico), Brazil, Southern Cone (includes Argentina separated from Paraguay, Uruguay and Chile), Colombia, Andean (includes Ecuador and Peru), Central America (includes Guatemala, El Salvador, Honduras, Nicaragua and Costa Rica), Caribbean (includes the Dominican Republic and Puerto Rico), and Europe (includes Austria, Bulgaria, Croatia, Belarus, Slovenia, Macedonia and Serbia).

The segment Southern Cone comprises mobile communication services in Argentina as well as Paraguay, Uruguay and Chile (see Note 12). Beginning in 2018, hyperinflation accounting in accordance with IAS 29 was initially applied to Argentina, which results in the restatement of non-monetary assets, liabilities and all items of the statement of comprehensive income for the change in a general price index and the translation of these items applying the period-end exchange rate.

The Company considers that the quantitative and qualitative aspects of any aggregated operating segments (that is, Central America and Caribbean) are similar in nature for all periods presented. In evaluating the appropriateness of aggregating operating segments, the key indicators considered included but were not limited to: (i) the similarity of key financial statements measures and trends, (ii) all entities provide telecommunications services, (iii) similarities of customer base and services, (iv) the methods to distribute services are the same, based on telephone plant in both cases, wireless and fixed lines, (v) similarities of governments and regulatory entities that oversee the activities and services of telecom companies, (vi) inflation trends, and (vii) currency trends.

										Southern Cone
	Mexico			Telmex			Brazil			Argentina			Uruguay and Paraguay			Colombia		Andean		Central America			Caribbean		Europe		Eliminations			Consolidated total
As of and for the year ended December 31, 2023 (in Ps.):
External revenues		248,890,778			84,821,370			162,224,734			18,884,623			3,995,812			62,342,147		52,903,716		43,964,411			37,148,876		100,836,377		—			816,012,844
Intersegment revenues		9,896,948			17,010,698			4,485,048			38,080			9,876			376,010		87,974		99,850			1,119,554		—		(33,124,038	)		—

Total revenues		258,787,726			101,832,068			166,709,782			18,922,703			4,005,688			62,718,157		52,991,690		44,064,261			38,268,430		100,836,377		(33,124,038	)		816,012,844
Depreciation and amortization		26,640,899			14,333,486			44,302,136			5,677,627			1,319,462			13,360,622		10,084,882		10,028,603			7,189,119		21,008,775		(2,159,547	)		151,786,064
Operating income (loss)		84,816,739			12,063,692			25,618,154			515,233			(444,485	)		9,958,999		10,638,985		6,956,209			7,723,115		15,751,978		(5,815,104	)		167,783,515
Interest income		27,202,474			1,465,927			4,252,205			543,248			4,231			867,151		2,338,242		621,068			1,616,687		392,951		(29,675,844	)		9,628,340
Interest expense		28,164,647			7,176,879			25,691,398			968,299			113,909			3,342,195		2,333,600		1,325,213			1,735,648		1,971,189		(28,277,736	)		44,545,241
Income tax		30,378,228			(625,561	)		(1,730,068	)		(4,760,360	)		(1,721	)		1,427,740		4,141,240		1,728,005			1,674,363		2,785,214		(473,077	)		34,544,003
Equity interest in net result of associated companies		(5,458,577	)		41,642			32,776			(1,814	)		—			—		—		(1,143	)		—		15,292		—			(5,371,824	)
Net profit (loss) attributable to equity holders of the parent		43,053,030			(5,278,857	)		9,866,950			(8,101,032	)		(294,922	)		4,180,800		7,769,059		4,733,871			5,604,618		11,145,743		3,431,357			76,110,617
Assets by segment		1,029,618,098			238,216,814			383,653,519			53,570,541			9,187,465			115,103,155		98,293,206		91,976,207			101,862,049		167,594,129		(724,889,223	)		1,564,185,960
Property, plant and equipment, net		46,695,107			150,219,598			150,226,089			21,087,810			4,089,689			53,038,210		30,416,383		42,790,489			35,214,165		86,706,171		(1,072,086	)		619,411,625
Revalued of assets		—			—			—			—			—			8,040,753		—		—			—		1,198,526		—			9,239,279
Rights of use assets, net		5,169,432			220,565			40,606,564			7,983,658			2,374,873			3,965,376		13,509,229		17,107,790			6,669,681		16,115,920		(154,768	)		113,568,320
Goodwill		26,434,428			215,381			29,437,800			—			201,912			9,304,613		4,603,998		6,279,966			14,186,723		55,414,076		—			146,078,897
Licenses and rights, net		10,555,645			92,065			32,446,402			10,603,388			1,017,772			10,227,439		3,180,343		4,660,729			8,593,842		18,520,001		—			99,897,626
Liabilities by segments		628,519,912			236,678,379			313,072,959			36,668,486			4,512,644			59,510,611		46,189,708		37,051,349			47,864,665		93,944,278		(361,529,413	)		1,142,483,578

										Southern Cone (1)
	Mexico			Telmex			Brazil			Argentina		Uruguay, Paraguay and Chile			Colombia		Andean		Central America			Caribbean		Europe		Eliminations			Consolidated total
As of and for the year ended December 31, 2024 (in Ps.):
External revenues		252,179,477			90,710,597			165,401,035			39,574,605		8,025,389			71,436,983		51,284,298		48,136,010			35,181,218		107,290,972		-			869,220,584
Intersegment revenues		12,850,407			17,009,409			4,889,447			108,973		25,606			364,005		140,126		105,832			1,169,243		388,927		(37,051,975	)		-

Total revenues		265,029,884			107,720,006			170,290,482			39,683,578		8,050,995			71,800,988		51,424,424		48,241,842			36,350,461		107,679,899		(37,051,975	)		869,220,584
Depreciation and amortization		25,628,734			14,935,037			42,956,936			11,737,247		3,932,327			16,069,344		10,697,841		11,814,612			7,215,207		23,409,159		(4,268,083	)		164,128,361
Operating income (loss)		89,445,892			14,745,648			30,925,701			1,557,289		(2,353,311	)		9,644,694		8,112,560		7,536,522			5,876,774		16,346,663		(1,738,342	)		180,100,090
Interest income		22,978,028			1,412,233			2,069,164			1,093,853		14,055			572,336		2,457,448		617,545			1,870,519		412,679		(24,489,640	)		9,008,220
Interest expense		37,936,534			4,600,341			24,096,598			2,518,511		431,181			4,034,032		2,329,634		1,103,466			1,374,621		2,160,180		(24,565,344	)		56,019,754
Income tax		16,661,724			2,496,264			(3,271,970	)		9,953,687		(1,459,393	)		1,481,320		2,680,751		2,058,918			2,665,185		2,145,866		(173,909	)		35,238,443
Equity interest in net result of associated companies		(5,294,505	)		49,924			44,122			-		-			-		-		(987	)		-		22,334		-			(5,179,112	)
Net profit (loss) attributable to equity holders of the parent		(26,212,930	)		(5,237,369	)		(4,412,015	)		6,105,737		(1,365,108	)		2,291,033		5,469,348		5,565,820			3,324,641		12,051,439		25,321,429			22,902,025
Assets by segment		1,022,191,247			257,019,909			350,641,199			92,425,415		67,214,434			136,037,736		109,408,583		115,513,670			110,510,952		197,030,441		(664,072,629	)		1,793,920,957
Property, plant and equipment, net		45,781,814			154,257,837			139,860,917			44,007,209		36,280,537			53,548,458		35,887,323		55,113,984			41,501,202		99,353,054		(2,264,994	)		703,327,341
Revalued of assets		-			-			-			-		-			7,954,569		-		-			-		2,502,519		-			10,457,088
Rights of use assets, net		81,713,962			193,632			35,137,224			8,941,870		7,973,991			4,771,008		15,072,246		20,238,997			6,900,369		18,561,879		(44,800	)		199,460,378
Goodwill		26,497,724			215,381			27,897,869			201,940		4,735,752			9,677,519		4,720,170		6,328,845			14,186,723		62,374,446		-			156,836,369
Licenses and rights, net		9,331,883			73,248			26,611,997			20,464,792		1,938,693			20,291,075		4,057,611		5,164,105			9,936,893		19,155,291		-			117,025,588
Liabilities by segments		733,673,637			205,016,281			287,411,028			56,329,087		40,851,110			78,608,757		61,627,902		42,458,437			44,392,804		104,786,220		(293,418,627	)		1,361,736,636

(1)

Includes the acquisitions of Claro Chile, SpA (see note 12 a)

								Southern Cone
	Mexico		Telmex			Brazil		Argentina			Uruguay, Paraguay and Chile			Colombia (1)		Andean		Central America		Caribbean		Europe (2)		Eliminations			Consolidated total
As of and for the year ended December 31, 2025 (in Ps.):
External revenues		260,860,901		91,809,477			177,524,392		36,571,343			26,934,980			78,606,339		57,156,506		56,291,546		36,719,643		121,163,279		-			943,638,406
Intersegment revenues		14,320,929		22,226,908			5,467,161		62,380			95,918			682,367		151,779		86,226		1,382,381		5,653		(44,481,702	)		-

Total revenues		275,181,830		114,036,385			182,991,553		36,633,723			27,030,898			79,288,706		57,308,285		56,377,772		38,102,024		121,168,932		(44,481,702	)		943,638,406
Depreciation and amortization		25,312,943		15,512,442			44,070,114		11,689,302			13,537,869			17,567,131		11,916,648		11,704,900		7,142,979		26,150,361		(3,799,906	)		180,804,783
Operating income (loss)		92,212,394		16,183,387			36,210,520		1,037,106			(7,913,241	)		10,696,481		9,842,247		12,768,911		6,337,793		18,209,048		(4,180,758	)		191,403,888
Interest income		19,667,722		1,232,222			3,720,357		1,047,982			94,778			774,208		1,785,957		681,313		1,550,714		809,396		(22,237,162	)		9,127,487
Interest expense		34,603,883		2,019,265			27,512,216		3,003,394			1,723,369			5,499,608		2,766,623		1,287,845		1,349,946		2,257,883		(21,705,175	)		60,318,857
Income tax		33,642,415		2,076,209			3,117,003		1,452,391			488,910			1,421,924		3,132,366		2,690,797		2,782,338		3,252,661		(186,825	)		53,870,189
Equity interest in net result of associated companies		182,429		55,247			29,185		-			-			-		-		-		-		27,374		-			294,235
Net profit (loss) attributable to equity holders of the parent		76,093,306		(5,006,075	)		13,521,617		(3,982,796	)		(8,953,594	)		2,926,842		6,019,755		9,640,767		3,011,166		13,137,762		(23,589,668	)		82,819,082
Assets by segment		1,064,507,161		258,033,577			363,859,328		73,341,282			64,235,131			145,026,232		111,706,262		104,956,303		99,559,791		202,756,122		(688,365,584	)		1,799,615,605
Property, plant and equipment, net		43,037,006		155,243,545			139,217,911		34,080,176			31,802,192			55,122,223		34,030,562		49,676,505		36,081,116		99,045,603		(224,827	)		677,112,012
Revalued of assets		-		-			-		-			-			7,850,714		-		-		-		2,300,336		-			10,151,050
Rights of use assets, net		77,637,360		175,509			41,921,450		5,454,963			7,296,802			6,188,596		13,832,765		19,081,616		5,984,143		20,007,551		(36,883	)		197,543,872
Goodwill		26,454,538		215,381			27,841,639		202,098			4,735,752			10,068,045		4,714,312		6,299,215		14,186,723		62,735,472		-			157,453,175
Licenses and rights, net		8,792,731		59,211			23,237,214		15,970,461			3,333,702			19,898,599		11,071,330		4,486,005		9,462,030		19,145,479		-			115,456,762
Liabilities by segments		705,313,279		231,506,580			285,446,324		45,871,982			42,339,871			85,036,582		65,209,861		36,943,971		39,906,419		101,707,608		(267,339,246	)		1,371,943,231

(1)

Includes the acquisitions of Sites Colombia (see note 12 a)

(2)

Includes the acquisitions of Connexio Metro and Peter-S-Teleurin (see note 12 a)

Recently Issued Accounting Standards	12 Months Ended
Recently Issued Accounting Standards	Dec. 31, 2025
Recently issued accounting standards [Abstract]
Recently Issued Accounting Standards	Note 24. Recently Issued Accounting Standards New and amended standards and interpretations The new and amended standards and interpretations that are issued, but not yet effective, up to the date of issuance of the Company’s financial statements are disclosed below. The Company has not early adopted any other standard, interpretation or amendment that has been issued but is not yet effective. IFRS 18 Presentation and Disclosure in Financial Statements In April 2024, the IASB issued IFRS 18, which replaces IAS 1 Presentation of Financial Statements. IFRS 18 introduces new requirements for presentation within the statement of profit or loss, including specified totals and subtotals. Furthermore, entities are required to classify all income and expenses within the statement of profit or loss into one of five categories: operating, investing, financing, income taxes and discontinued operations, whereof the first three are new. The standard requires disclosure of newly defined management-defined performance measures, subtotals of income and expenses, and it also includes new requirements for aggregation and disaggregation of financial information based on the identified ‘roles’ of the primary financial statements (PFS) and the notes. In addition, narrow-scope amendments have been made to IAS 7 Statement of Cash Flows, which include changing the starting point for determining cash flows from operations under the indirect method, from ‘profit or loss’ to ‘operating profit or loss’ and removing the optionality around classification of cash flows from dividends and interest. In addition, there are consequential amendments to several other standards. IFRS 18, and the amendments to the other standards, are effective for reporting periods beginning on or after 1 January 2027, but earlier application is permitted and must be disclosed. IFRS 18 will apply retrospectively. The Company is currently working to identify all impacts the amendments will have on the primary financial statements and notes to the financial statements. The initial expected material impacts on Company’s financial statements are, as follows: ▪ Equity interest in net result of associated companies, interest income and dividends received will be classified in the investing category within the statement of profit or loss. ▪ Foreign exchange difference will be classified in the category where the related income and expense form the item giving rising to the foreign exchange difference. ▪ New disclosures could be added: (a) management-defined performance measures; (b) specified expense by nature if expenses are presented by function in the operating category of the statement of profit or loss; and (c) a reconciliation for each line item in the statement of profit or loss between the restated amounts presented applying IFRS 18 and the amounts previously presented applying IAS 1. ▪ Interest received will be classified in the investing activities, on the statement of cash flows. IFRS 19 Subsidiaries without Public Accountability: Disclosures In May 2024, the IASB issued IFRS 19, which allows eligible entities to elect to apply its reduced disclosure requirements while still applying the recognition, measurement and presentation requirements in other IFRS accounting standards. To be eligible, at the end of the reporting period, an entity must be a subsidiary as defined in IFRS 10, cannot have public accountability and must have a parent (ultimate or intermediate) that prepares consolidated financial statements, available for public use, which comply with IFRS accounting standards. IFRS 19 will become effective for reporting periods beginning on or after 1 January 2027, with early application permitted. As the Company’s equity instruments are publicly traded, it is not eligible to elect to apply IFRS 19. Amendments to the Classification and Measurement of Financial Instruments—Amendments to IFRS 9 and IFRS 7 In May 2024, the IASB issued Amendments to IFRS 9 and IFRS 7, Amendments to the Classification and Measurement of Financial Instruments (the Amendments). The Amendments include: ▪ A clarification that a financial liability is derecognised on the ‘settlement date’ and the introduction of an accounting policy choice (if specific conditions are met) to derecognise financial liabilities settled using an electronic payment system before the settlement date. ▪ Additional guidance on how the contractual cash flows for financial assets with environmental, social and corporate governance (ESG) and similar features should be assessed. ▪ Clarifications on what constitute ‘non-recourse features’ and what are the characteristics of contractually linked instruments. ▪ The introduction of disclosures for financial instruments with contingent features and additional disclosure requirements for equity instruments classified at fair value through other comprehensive income (OCI). The Amendments are effective for annual periods starting on or after 1 January 2026 with early adoption permitted for classification of financial assets and related disclosures only. The Company is currently in the process of evaluating the impact of the amendments and, at this stage, does not anticipate that the amendments will have a material effect on the Company’s financial statements. Annual Improvements to IFRS Accounting Standards - Volume 11 In July 2024, the IASB issued nine narrow scope amendments as part of its periodic maintenance of IFRS accounting standards. The amendments include clarifications, simplifications, corrections or changes to improve consistency in IFRS 1 First-time Adoption of International Financial Reporting Standards, IFRS 7 Financial instruments: Disclosure and its accompanying Guidance on implementing IFRS 7, IFRS 9 Financial Instruments, IFRS 10 Consolidated Financial Statements and IAS 7 Statements of Cash Flows. The amendments will be effective for reporting periods beginning on or after 1 January 2026. Earlier application is permitted and must be disclosed. The amendments are not expected to have a material impact on the Company’s financial statements. Contracts Referencing Nature-dependent Electricity – Amendments to IFRS 9 and IFRS 7 In December 2024, the IASB issued Amendments to IFRS 9 and IFRS 7 - Contracts Referencing Nature dependent Electricity. The amendments apply only to contracts that reference nature-dependent electricity; the amendments: ▪ Clarify the application of the ‘own-use’ requirements for in-scope contracts. ▪ Amend the designation requirements for a hedged item in a cash flow hedging relationship for in-scope contracts. ▪ Add new disclosure requirements to enable investors to understand the effect of these contracts on a company’s financial performance and cash flows. The amendments will take effect for annual reporting periods starting on or after 1 January 2026. Early adoption is allowed, but it must be disclosed. The amendments concerning the own-use exception are to be applied retrospectively, while the hedge accounting amendments should be applied prospectively to new hedging relationships designated from the initial application date. Additionally, the IFRS 7 disclosure amendments must be implemented alongside the IFRS 9 amendments. If an entity does not restate comparative information, it cannot present comparative disclosures. The Company does not expect that the amendments will have a material impact on its financial statements.

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2025
Subsequent Events [Abstract]
Subsequent Events	Note 25. Subsequent Events a) On March 22, 2026, the Company announced that one of its subsidiaries in Brazil has entered into an agreement to acquire approximately 73% of Desktop, S.A.’s capital stock. Completion of the transaction is subject to certain customary closing conditions, including approvals by the Administrative Council for Economic Defense (CADE) and by the National Telecommunications Agency (ANATEL). b) On April 23, 2026, the Company’s annual shareholders meeting authorized (i) an amount of Ps. 10 billion to repurchase the Company’s own shares and (ii) the payment of a Ps. 0.54 (fifty four peso cents) ordinary dividend per share to be paid in two installments of Ps.0.27 (twenty seven peso cents), each. The Company’s shareholders also agreed to the cancellation of the “B” shares acquired as part of the Company’s repurchase program, held in the Company’s treasury, and to modify the sixth article of the Company’s bylaws to reduce share capital proportionally to the cancellation of the shares.

Cybersecurity Risk Management and Strategy Disclosure

12 Months Ended

Dec. 31, 2025

Cybersecurity Risk Management, Strategy, and Governance [Abstract]

Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]

Risk Management and Strategy

As part of our overall risk management system, we have developed processes for assessing, identifying and managing material risks from cybersecurity threats. Our cybersecurity risk management processes include development, implementation and improvement of policies and procedures that seek to safeguard information and ensure availability of critical data and systems. Our internal cybersecurity risk professionals consult with company subject matter experts to gather information necessary to identify cybersecurity risks, and evaluate their nature and severity, as well as identify potential mitigants and assess the impact of those mitigations on residual risk. We seek to adopt a continuous improvement model in our cyber security risk management in order incorporate result of testing or any incidents in our processes. We also use external cybersecurity risk professionals for specific projects.

We understand the importance of preserving trust and protecting personal information. To assist us, we have cybersecurity governance and data privacy frameworks in place, which are designed to protect information and information systems from unauthorized access, use, disclosure, disruption, modification or destruction.

Our cybersecurity risk management processes include the following:

•

Cybersecurity governance and data privacy frameworks that include risk assessment and mitigation through a threat intelligence-driven approach, application controls and enhanced security with ransomware defense. Our frameworks leverage International Organization for Standardizations (ISO) 27001/27002 standards for general information technology controls and International Society of Automation (ISA) / International Electrotechnical Commission (IEC) standards for industrial automation. We also consider the National Institute of Standards and Technology (NIST) Cyber Security Framework in measuring overall readiness to respond to cyber threats.

•

Policies, software, training programs and hardware solutions are utilized to protect and monitor our environment, including multifactor authentication, firewalls, intrusion detection and prevention systems, vulnerability and penetration testing and identity management systems. We also seek to continually improve our cybersecurity practices through annual reviews.

•

Mandatory security awareness education and training for all employees and additional specialist training for IT employees, internal “phishing” testing and training for “clickers,” mandatory security training for all new hires and the publication of periodic cybersecurity newsletters and employee awareness campaigns to highlight security threats.

•	We are in the process of updating our cybersecurity incident response plan and processes to respond to and recover from cybersecurity incidents in accordance with international standards.

•	Participation with telecom industry associations in Latin America to share threat intelligence and collaboration with organizations across different industries to share best practices.

Additionally, in connection with our cybersecurity risk management processes, we engage:

•

Independent third-parties to assess and report on our internal incident response preparedness and help identify areas for continued focus and improvement, test for cyber vulnerabilities, perform penetration tests at least once a year and execute regular information technology reviews based on the NIST Cybersecurity Framework.

•	Outside counsel to advise about best practices for cybersecurity oversight, and the evolution of that oversight over time.

Our cybersecurity risk management processes include the oversight and identification of threats associated with our use of third-party service providers. We review the privacy protection and cybersecurity practices of vendors that may handle personal data, and we seek to contractually obligate such vendors to operate their environments in accordance with cybersecurity standards.

Our business strategy, results of operations and financial condition have not been materially affected by cybersecurity threats or cybersecurity incidents, but we cannot provide assurance that they will not be materially affected in the future by any future material incidents. As of the date of this annual report, we have not experienced any material information security breach incidences. See “Risk Factors” in Part III of this annual report for more information on our cybersecurity related risks.

Cybersecurity Risk Management Processes Integrated [Flag]

true

Cybersecurity Risk Management Processes Integrated [Text Block]

As part of our overall risk management system, we have developed processes for assessing, identifying and managing material risks from cybersecurity threats. Our cybersecurity risk management processes include development, implementation and improvement of policies and procedures that seek to safeguard information and ensure availability of critical data and systems. Our internal cybersecurity risk professionals consult with company subject matter experts to gather information necessary to identify cybersecurity risks, and evaluate their nature and severity, as well as identify potential mitigants and assess the impact of those mitigations on residual risk. We seek to adopt a continuous improvement model in our cyber security risk management in order incorporate result of testing or any incidents in our processes. We also use external cybersecurity risk professionals for specific projects.

Cybersecurity Risk Management Third Party Engaged [Flag]

true

Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]

true

Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]

false

Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Text Block]

As of the date of this annual report, we have not experienced any material information security breach incidences. See “Risk Factors” in Part III of this annual report for more information on our cybersecurity related risks.

Cybersecurity Risk Board of Directors Oversight [Text Block]

Governance

MANAGEMENT

The cybersecurity risk management processes described above are managed by our CISO. Our CISO joined Telmex in 1996. Previously, our CISO was a member of the board of directors of SCITUM Group and HITSS Group, both of which are dedicated to the development and integration of software solutions and IT services. Our Corporate Information Security Committee supervises the implementation of América Móvil’s Information Security Strategy. Additionally, each subsidiary has its own local Information Security Committee. The committees’ functions include identifying main operational risks for the business, developing and managing security strategies by creating and monitoring “Strategic Information Security Plans,” which are updated annually or semi-annually, managing and allocating corporate and local budgets for information security and determining priority actions in the face of current or future threats.

Our CISO reports to our board of directors’ Audit and Corporate Practices Committee, and holds extraordinary meetings as needed.

BOARD OF DIRECTORS

Our Board of Directors, through its Audit and Corporate Practices Committee oversees data privacy and cybersecurity risks. Our CISO provides periodic updates to our Audit and Corporate Practices Committee on our cybersecurity risks and actions taken to mitigate that risk, which information is then reported to our full Board to the extent deemed to be material. The CISO reports on compliance and regulatory issues, evolving threats and mitigating actions. In overseeing cybersecurity risks, the Audit and Corporate Practices Committee focuses on thematic issues within an aggregated strategic lens and uses a risk-based approach.

Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]

Audit and Corporate Practices Committee oversees data privacy and cybersecurity risks.

Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]

Our CISO provides periodic updates to our Audit and Corporate Practices Committee on our cybersecurity risks and actions taken to mitigate that risk, which information is then reported to our full Board to the extent deemed to be material.

Cybersecurity Risk Role of Management [Text Block]

MANAGEMENT

The cybersecurity risk management processes described above are managed by our CISO. Our CISO joined Telmex in 1996. Previously, our CISO was a member of the board of directors of SCITUM Group and HITSS Group, both of which are dedicated to the development and integration of software solutions and IT services. Our Corporate Information Security Committee supervises the implementation of América Móvil’s Information Security Strategy. Additionally, each subsidiary has its own local Information Security Committee. The committees’ functions include identifying main operational risks for the business, developing and managing security strategies by creating and monitoring “Strategic Information Security Plans,” which are updated annually or semi-annually, managing and allocating corporate and local budgets for information security and determining priority actions in the face of current or future threats.

Our CISO reports to our board of directors’ Audit and Corporate Practices Committee, and holds extraordinary meetings as needed.

Cybersecurity Risk Management Positions or Committees Responsible [Flag]

true

Cybersecurity Risk Management Positions or Committees Responsible [Text Block]

The CISO reports on compliance and regulatory issues, evolving threats and mitigating actions. In overseeing cybersecurity risks, the Audit and Corporate Practices Committee focuses on thematic issues within an aggregated strategic lens and uses a risk-based approach.

Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]

Our CISO provides periodic updates to our Audit and Corporate Practices Committee on our cybersecurity risks and actions taken to mitigate that risk, which information is then reported to our full Board to the extent deemed to be material.

Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]

true

Insider Trading Arrangements	12 Months Ended
Insider Trading Arrangements	Dec. 31, 2025
Insider Trading Arrangements [Line Items]
Insider Trading Policies and Procedures Adopted	true

Basis of Preparation of the Consolidated Financial Statements and Summary of Significant Accounting Policies and Practices (Policies)

12 Months Ended

Dec. 31, 2025

Basis of Preparation of the Consolidated Financial Statements and Summary of Significant Accounting Policies and Practices [Abstract]

Basis of preparation

a)	Basis of preparation

The accompanying consolidated financial statements have been prepared in conformity with IFRS Accounting Standards, as issued by the International Accounting Standards Board (“IASB”).

The consolidated financial statements have been prepared on the historical cost basis, except for the derivative financial instruments (assets and liabilities), the passive infrastructure of mobile telecommunications towers, the trust assets of post-employment and other employee benefit plans, and debt and equity instruments that have been measured at fair value.

Effective July 1, 2018, the Argentine economy has been considered to be hyperinflationary in accordance with the criteria in IAS 29 “Financial Reporting in Hyperinflationary Economies” (“IAS 29”). Accordingly, for the Argentine subsidiaries, we have included adjustments for hyperinflation and reclassifications as is required by the standard for purposes of presentation of IFRS accounting standards in the consolidated financial statements.

The preparation of these consolidated financial statements under IFRS accounting standards requires the use of critical estimates and assumptions that affect the amounts reported for certain assets, liabilities, revenue and expenses. It also requires that management exercise judgment in the application of the Company’s accounting policies. Actual results could differ from these estimates and assumptions.

The Mexican peso is the functional currency of the Company’s Mexican operations and the consolidated reporting currency of the Company.

(i) Changes in Accounting Policies and Disclosures

The accounting policies applied in the preparation of the consolidated financial statements for the year ended December 31, 2025 are consistent with those used in the preparation of the Company´s consolidated annual financial statements for the years ended December 31, 2023 and 2024, with the exception of the following new amendments to existing standards issued by the IASB, which were mandatory for annual periods beginning on or after January 1, 2025:

Lack of exchangeability – Amendments to IAS 21

In August 2023, the IASB issued amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates to specify how an entity should assess whether a currency is exchangeable and how it should determine a spot exchange rate when exchangeability is lacking. The amendments also require disclosure of information that enables users of its financial statements to understand how the currency not being exchangeable into the other currency affects, or is expected to affect, the entity’s financial performance, financial position and cash flows.

The amendments had no impact on the Company’s consolidated financial statements.

(ii) Basis of consolidation

The consolidated financial statements include the accounts of América Móvil and those subsidiaries over which the Company exercises control. The consolidated financial statements for the subsidiaries were prepared for the same period as the Company´s and applying consistent accounting policies. All of the subsidiary companies operate in the telecommunications sector or related.

Subsidiaries are entities over which the Company has control. Control is achieved when the Company has power over the investee, when it is exposed to, or has rights to, variable returns from its involvement with the investee, and has the ability to use its power over the investee to affect the amount of the investor’s returns. Subsidiaries are consolidated on a line-by-line basis from the date which control is achieved by the Company. The Company reassesses whether or not it controls an investee if facts and circumstances indicate that there are changes to one or more of the elements of control.

Changes in the Company’s ownership interests in a subsidiary that do not result in the Company losing control over the subsidiary are accounted for as equity transactions. The carrying amounts of the equity attributable to owners of the parent and non-controlling interests are adjusted to reflect the changes in their relative interests in the subsidiary. Any difference between the carrying amount of the non-controlling interests and the fair value of the consideration paid or received in the transaction is recognized directly in the equity attributable to the equity holders of the parent.

Subsidiaries are deconsolidated from the date which control ceases. When the Company ceases to have control over a subsidiary, it derecognizes the assets (including any goodwill) and liabilities of the subsidiary at their carrying amounts, derecognizes the carrying amount of non-controlling interests in the former subsidiary and recognizes the fair value of any consideration received from the transaction. Any retained interest in the former subsidiary is then remeasured to its fair value.

All intra-Company balances and transactions, and any unrealized gains and losses arising from intra-Company transactions, are eliminated upon consolidation.

Non-controlling interests represent the portion of profits or losses and net assets not held by the Company. Non-controlling interests are presented separately in the consolidated statements of comprehensive income and in equity in the consolidated statements of financial position separately from Company’s own equity.

Associates:

Equity method investments:

An associate is an entity over which the Company has significant influence. Significant influence is the power to participate in the financial and operating policy decisions of the investee but does not have control or joint control over those decisions.

A joint venture is an arrangement in which the Company has joint control, whereby the Company has rights to the net assets of the arrangement, rather than rights to its assets and obligations for its liabilities.

The investments in associates and joint venture are accounted for using the equity method.

Pursuant to such method, the associates and joint venture are initially recognized at cost, which includes transaction costs and includes goodwill identified on acquisition. Subsequent to initial recognition, the consolidated financial statements include the Company’s share of the profit or loss and OCI of equity-accounted investees, until the date on which significant influence or joint control ceases, and is presented net of any accumulated impairment losses.

The results of operations of the subsidiaries and associates are included in the Company’s consolidated financial statements beginning as of the month following their acquisition and its share of other comprehensive income after acquisition is recognized directly in other comprehensive income.

The Company assesses at each reporting date whether there is objective evidence that investment in associates and joint venture is impaired. If so, the Company calculates the amount of impairment as the difference between the recoverable amount of the associate and its carrying value.

The equity interest in the most significant subsidiaries is as follows:

		Equity interest at December 31
	Country	2024			2025
Subsidiaries:
América Móvil B.V. ^a)	Netherlands		100.0	%		100.0	%
Compañía Dominicana de Teléfonos, S.A. (“Codetel”) ^b)	Dominican Republic		100.0	%		100.0	%
Sercotel, S.A. de C.V. ^a)	Mexico		100.0	%		100.0	%
Radiomóvil Dipsa, S.A. de C.V. and subsidiaries (“Telcel”) ^b)	Mexico		100.0	%		100.0	%
Puerto Rico Telephone Company, Inc. ^b)	Puerto Rico		100.0	%		100.0	%
Servicios de Comunicaciones de Honduras, S.A. de C.V. (“Sercom Honduras”) ^b)	Honduras		100.0	%		100.0	%
Claro S.A. ^b)	Brazil		99.6	%		99.6	%
AMX International Mobile S.A. de C.V.^a)	Mexico		100.0	%		100.0	%
Claro NXT Telecomunicações, S.A.^b)	Brazil		100.0	%		100.0	%
Telecomunicaciones de Guatemala, S.A. (“Telgua”) ^b)	Guatemala		99.3	%		99.3	%
Claro Guatemala, S.A. ^b)	Guatemala		100.0	%		100.0	%
Empresa Nicaragüense de Telecomunicaciones, S.A. (“Enitel”) ^b)	Nicaragua		99.6	%		99.6	%
Compañía de Telecomunicaciones de El Salvador, S.A. de C.V. (“CTE”) ^b)	El Salvador		95.9	%		97.9	%
Comunicación Celular, S.A. (Comcel) ^b)	Colombia		99.4	%		99.4	%
Consorcio Ecuatoriano de Telecomunicaciones, S.A. (“Conecel”) ^b)	Ecuador		100.0	%		100.0	%
AMX Argentina, S.A. ^b)	Argentina		100.0	%		100.0	%
AMX Paraguay, S.A. ^b)	Paraguay		100.0	%		100.0	%
AM Wireless Uruguay, S.A. ^b)	Uruguay		100.0	%		100.0	%
América Móvil Perú, S.A.C ^b)	Peru		100.0	%		100.0	%
Teléfonos de México, S.A.B. de C.V. ^b)	Mexico		100.0	%		100.0	%
Claro Chile, SpA ^b)	Chile		94.9	%		100.0	%
Telekom Austria AG ^b)	Austria		60.6	%		60.9	%
EuroTeleSites AG and subsidiaries ^c)	Austria		57.0	%		57.0	%

a) Holding companies.

b) Operating companies of mobile and fixed services.

c) Operator of wireless telecommunications infrastructure.

(iii) Basis of translation of financial statements of foreign subsidiaries and associated companies

The operating revenues of foreign subsidiaries represent approximately 60%, 61% and 64% of consolidated operating revenues for the years ended December 31, 2023, 2024 and 2025, respectively, and their total assets represent approximately 65% and 65% of consolidated total assets at December 31, 2024 and 2025, respectively.

The financial statements of foreign subsidiaries have been prepared under or converted to IFRS in the respective local currency (which is their functional currency) and then translated into the Company´s reporting currency as follows:

•

all monetary assets and liabilities are translated at the closing exchange rate of the period;

•

all non-monetary assets and liabilities are translated at the closing exchange rate of the period;

•

equity accounts are translated at the exchange rate at the time the capital contributions were made and the profits were generated;

•

revenues, costs and expenses are translated at the average exchange rate of the period, except for the operations of the subsidiaries in Argentina, whose economy is considered hyperinflationary since 2018;

•

the consolidated statements of cash flows presented using the indirect method are translated using the weighted-average exchange rate for the applicable period (except for Argentina), and the resulting difference is shown in the consolidated statements of cash flows under the heading “Adjustment to cash flows due to exchange rate fluctuations, net”.

The difference resulting from the translation process is recognized in equity in the caption “Effect of translation of foreign entities”. At December 31, 2024 and 2025, the cumulative translation adjustment was Ps.(112,295,055) and Ps.(131,343,435), respectively.

The basis of translation for the operations of the subsidiaries in Argentina are described below:

In recent years, Argentina’s economy has shown high rates of inflation. Although inflation data has not been consistent in recent years and several indexes have coexisted, inflation in Argentina indicates that the three-year cumulative inflation rate exceeded 100% in 2018, which is one of the quantitative references established by IAS 29. As a result, Argentina was considered a hyperinflationary economy in 2018 and the Company applies hyperinflation accounting to its subsidiary whose functional currency is the Argentine peso for financial information for periods ending on or after July 1, 2018, however the calculation of the cumulative impact was measured as of January 1, 2018.

In order to restate, for hyperinflation, its financial statements, the subsidiary used the series of indices defined by resolution JG No. 539/18 issued by the “Federación Argentina de Consejos Profesionales de Ciencias Económicas” (“FACPCE”), based on the National Consumer Price Index (“IPC”) published by the Instituto Nacional de Estadística y Censos (“INDEC”) of the Argentine Republic and the Wholesale Internal Price Index (“IPIM”) published by FACPCE. The cumulative index as of December 31, 2025 is 10,087.3921, while the annual inflation for 2025 is 31.5%.

The main implications are as follows:

•

Adjustment of the historical cost of non-monetary assets and liabilities and equity items from their date of acquisition, or the date of inclusion in the consolidated statements of financial position, to the end of the year, in order to reflect changes in the currency’s purchasing power caused by inflation.

•

The gain on the net monetary position caused by the impact of inflation in the year is included in the consolidated statements of comprehensive income as part of the caption “Valuation of derivatives, interest cost from labor obligations and other financial items, net”. Items in the statement of comprehensive income and in the statements of cash flows are adjusted by the inflation index since their origination, with a balancing entry, and a reconciling item in the statements of cash flows, respectively.

•

All items in the financial statements of the Argentine subsidiary are translated at the closing exchange rate, which at December 31, 2024 and 2025 were 0.0196 and 0.0123, respectively, per Argentine peso per Mexican peso.

Revenue recognition