Document:

Second Supplemental Indenture dated March 9, 2004

 Exhibit 4.3 
  

Execution Copy 
  
  

  
 América Móvil, S.A. de C.V., 
  
                                       
                          as Issuer 
  
 and 
  
 Radiomóvil Dipsa, S.A. de C.V., 
  
                                       
                              as Guarantor 
  
 to 
  
 JPMorgan Chase Bank, 
  
                                       
                          as Trustee 
  

  
 SECOND SUPPLEMENTAL INDENTURE 
  
 Dated as of March 9, 2004 
  

  
 U.S.$800,000,000 
  
 5.500% Senior Notes due 2014 
  

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page

			
	 	  	 ARTICLE ONE
	  	 
			
	 	  	 DEFINITIONS
	  	 
			
	 Section 101.
	  	 Provisions of the Base Indenture
	  	2
	 Section 102.
	  	 Definitions
	  	2
			
	 	  	 ARTICLE TWO
	  	 
			
	 	  	 GENERAL TERMS AND CONDITIONS OF THE NOTES
	  	 
			
	 Section 201.
	  	 Designation and Principal Amount
	  	4
	 Section 202.
	  	 Forms Generally
	  	5
	 Section 203.
	  	 Transfers and Exchanges
	  	18
	 Section 204.
	  	 Form of Trustee’s Certificate of Authentification
	  	21
	 Section 205.
	  	 Maintenance of Office or Agency
	  	21
	 Section 206.
	  	 Luxembourg Listing
	  	21
			
	 	  	 ARTICLE THREE
	  	 
			
	 	  	 MISCELLANEOUS PROVISIONS
	  	 
			
	 Section 301.
	  	 Separability of Invalid Provisions
	  	22
	 Section 302.
	  	 Execution in Counterparts
	  	22
	 Section 303.
	  	 Certain Matters
	  	22

 SECOND SUPPLEMENTAL INDENTURE, dated as of March 9, 2004, among América Móvil, S.A. de
C.V., a sociedad anónima de capital variable organized and existing under the laws of the United Mexican States (“Mexico”) (herein called the “Company”), having its principal office at Lago Alberto 366, Edificio
Telcel I, Piso 2, Colonia Anáhuac, 11320, Mexico, D.F., Mexico, Radiomóvil Dipsa, S.A. de C.V., a sociedad anónima de capital variable organized and existing under the laws of Mexico (herein called the
“Guarantor”), having its principal office at Lago Alberto 366, Edificio Telcel I, Piso 2, Colonia Anáhuac, 11320, Mexico, D.F., Mexico, and JPMorgan Chase Bank, a banking corporation duly organized and existing under the laws of the
State of New York, as Trustee (herein called the “Trustee”) to the Indenture, dated as of March 9, 2004, among the Company, the Guarantor and the Trustee (as amended and supplemented, herein called the “Base Indenture”).

  
 W I T N E S S E T H: 
  
 WHEREAS, the Base Indenture provides for the issuance from time to time
thereunder, in series, of debt Securities of the Company, and Section 901 of the Base Indenture provides for the establishment of the form or terms of Securities issued thereunder through one or more supplemental indentures; 
  
 WHEREAS, the Company desires by this Second Supplemental Indenture to create
a series of Securities to be issuable under the Base Indenture, as supplemented by this Second Supplemental Indenture, and to be known as the Company’s “5.500% Senior Notes due 2014” (the “Notes”), which are to be initially
limited in aggregate principal amount as specified in this Second Supplemental Indenture and the terms and provisions of which are to be as specified in this Second Supplemental Indenture; 
  
 WHEREAS, the Company has duly authorized the execution and delivery of this
Second Supplemental Indenture to establish the Notes as a series of Securities under the Base Indenture and to provide for, among other things, the issuance of and the form and terms of the Notes and additional covenants for purposes of the Notes
and the Holders thereof; 
  
 WHEREAS, the Guarantor has duly
authorized the execution and delivery of this Second Supplemental Indenture to provide for the Guarantees of the Notes; and 
  
 WHEREAS, all things necessary to make this Second Supplemental Indenture a valid agreement of the Company and the Guarantor, in accordance with its terms,
have been done. 
  

 1 

 NOW, THEREFORE, for and in consideration of the premises and the purchase and acceptance of the Notes by
the Holders thereof and for the purpose of setting forth, as provided in the Base Indenture, the form of the Notes and the terms, provisions and conditions thereof, the Company and the Guarantor covenant and agree with the Trustee as follows:

  
 ARTICLE ONE 
  
 Definitions 
  

	Section 101.	Provisions of the Base Indenture. 

  
 Except insofar as herein otherwise expressly provided, all the definitions, provisions, terms and conditions of the Base Indenture shall remain in full
force and effect. The Base Indenture, as amended and supplemented by the First Supplemental Indenture and as further amended and supplemented by this Second Supplemental Indenture, is in all respects ratified and confirmed, and the Base Indenture,
the First Supplemental Indenture and this Second Supplemental Indenture shall be read, taken and considered as one and the same instrument for all purposes and every Holder of Notes of any series authenticated and delivered under the Base Indenture
shall be bound hereby. 
  

	Section 102.	Definitions. 

  
 For all purposes of this Second Supplemental Indenture and the Notes, except as otherwise expressly provided or unless the subject matter or context
otherwise requires: 
  
 (a) unless the context
otherwise requires, any reference to an “Article” or a “Section” refers to an Article or Section, as the case may be, of this Second Supplemental Indenture; 
  
 (b) the words “herein”, “hereof” and “hereunder” and other words of similar
import refer to this Second Supplemental Indenture as a whole and not to any particular Article, Section or other subdivision; 
  
 (c) all terms used in this Second Supplemental Indenture that are defined in the Base Indenture have the meanings assigned to them in the
Base Indenture, except as otherwise provided in this Second Supplemental Indenture; 
  
 (d) The term “Securities” as defined in the Base Indenture and as used in any definition therein, shall be deemed to include or
refer to, as applicable, the Notes; and 
  
 (e)
the following terms have the meanings given to them in this Section 102(e). 
  
 “Agent Member Transferee” has the meaning specified in Section 203(b) hereof. 
  
 “Agent Member Transferor” has the meaning specified in Section 203(b) hereof. 
  
 “Applicable Procedures” means, with respect to any transfer or transaction involving a Global Note or beneficial
interest therein, the rules and procedures of the Depositary, Euroclear and Clearstream for such Global Note, in each case to the extent applicable to such transaction and as in effect from time to time. 
  
 “Exchange Notes” means the securities with terms substantially
identical to the Original Notes (except for the differences provided for herein) issued pursuant to the Exchange Offer. 
  

 2 

 “Exchange Offer” means an offer made pursuant to an effective registration statement under the
Securities Act by the Company and the Guarantor to exchange the Exchange Notes for the Registrable Notes as required by the Registration Rights Agreement. 
  
 “Exchange Offer Registration Statement” means a registration statement of the Company and the Guarantor under the Securities Act, meeting the
requirements of the Registration Rights Agreement and registering the Exchange Notes pursuant to the Exchange Offer. 
  
 “Global Note” means a Note that evidences all or part of the Notes and is authenticated and delivered to, and registered in the name of, the
Depositary for such Notes or a nominee thereof. Global Notes shall include Restricted Global Notes, Regulation S Global Notes and Unrestricted Global Notes. 
  
 “Initial Purchasers” means the initial purchasers of the Notes listed in Schedule 1 to the Purchase Agreement. 
  
 “Original Notes” means all Notes other than Exchange Notes.

  
 “Owner Transferee” has the meaning specified in
Section 203(b) hereof. 
  
 “Owner Transferor” has the
meaning specified in Section 203(b) hereof. 
  
 “Permitted
Holder” means, at any time, any Person who, at such time, is the Holder of at least U.S.$5,000,000 in aggregate principal amount of Notes. 
  
 “Predecessor Note” means, with respect to any particular Note, every previous Note evidencing all or a portion of the same debt as that
evidenced by such particular Note; and, for the purposes of this definition, any Note authenticated and delivered under Section 305 of the Base Indenture in exchange for or in lieu of a mutilated, destroyed, lost or stolen Note shall be deemed to
evidence the same debt as the mutilated, destroyed, lost or stolen Note. 
  
 “Purchase Agreement” means the Purchase Agreement, dated March 2, 2004, by and among the Company, the Guarantor and the Initial Purchasers. 
  
 “Qualified Institutional Buyer” means a “qualified institutional buyer” as defined in Rule 144A.

  
 “Registered Notes” means the Exchange Notes and all
other Notes sold or otherwise disposed of pursuant to an effective registration statement under the Securities Act. 
  
 “Registrable Notes” shall have the meaning assigned to it in the Registration Rights Agreement. 
  
 “Registration Default” means occurrence of any of the events set
forth in Section 2(d) of the Registration Rights Agreement which gives rise to an obligation on the part of the Company to pay additional interest on the Notes in accordance therewith. 
  
 “Registration Rights Agreement” means the Registration Rights Agreement, dated as of March 9, 2004, among the
Company, the Guarantor and the Initial Purchasers, as such agreement may be amended from time to time. 
  

 3 

 “Regulation S” means Regulation S under the Securities Act. 
  
 “Regulation S Global Note” has the meaning specified in Section 202
hereof. 
  
 “Resale Registration Statement” means a
shelf registration statement under the Securities Act filed by the Company, if required by, and meeting the requirements of, the Registration Rights Agreement, registering the Registrable Notes for resale. 
  
 “Restricted Global Note” has the meaning specified in Section 202
hereof. 
  
 “Restricted Global Transferred Amount” has
the meaning specified in Section 203(b) hereof. 
  
 “Restricted Notes” means Notes offered and sold in their initial distribution in transactions exempt from the registration requirements of the Securities Act other than pursuant to Regulation S. 
  
 “Restricted Period” means the period of 40 consecutive days
beginning on and including the later of (i) the day on which the Original Notes are first offered to persons other than distributors (as defined in Regulation S) in reliance on Regulation S and (ii) the day on which the closing of the offering of
the Original Notes pursuant to the Purchase Agreement occurs. 
  
 “Restrictive Legends” has the meaning specified in Section 203(a). 
  
 “Rule 144A” means Rule 144A under the Securities Act. 
  
 “Rule 144” means Rule 144 under the Securities Act. 
  
 “Unrestricted Global Note” has the meaning specified in Section 202 hereof. 
  
 ARTICLE TWO 
  
 General Terms And Conditions of The Notes 
  

	Section 201.	Designation and Principal Amount. 

  
 There is hereby authorized and established a series of securities designated the “5.500% Senior Notes due 2014” (the “Notes”), in an
aggregate principal amount of U.S.$800,000,000 (which amount does not include Notes authenticated and delivered upon registration of transfer of, in exchange for, or in lieu of, other securities of such series pursuant to Sections 304, 305, 306, 906
or 1205 of the Base Indenture), which amount shall be specified in the Company Order for the authentication and delivery of Notes pursuant to Section 303 of the Base Indenture. The principal of the Notes shall be due and payable at their Stated
Maturity. 
  
 The Company may, from time to time and without the
consent of the Holders, issue additional notes, with Guarantees of the Guarantor duly annexed thereto or endorsed thereon, on terms and conditions identical to those of the Notes, which additional notes, together with Guarantees of the Guarantor
duly annexed thereto or endorsed thereon, shall increase the aggregate principal amount of, and shall be consolidated and form a single series with, the Notes. 
  

 4 

 The Company may issue Exchange Notes (with Guarantees of the Guarantor duly annexed thereto or endorsed
thereon) from time to time pursuant to an Exchange Offer, in each case pursuant to a Board Resolution and subject to Section 303 of the Base Indenture, in authorized denominations in exchange for a like principal amount of the Original Notes. Upon
any such exchange of Original Notes, the Original Notes so exchanged shall be canceled in accordance with Section 308 of the Base Indenture and shall no longer be deemed Outstanding for any purpose. 
  
 The Original Notes and any Exchange Notes shall vote and consent together on
all matters as one class and none of the Original Notes nor the Exchange Notes shall have the right to vote or consent as a class separate from one another on any matter. 
  
 The Stated Maturity of the Notes shall be March 1, 2014. The Notes shall bear interest at the rate of 5.500% per annum, from
March 9, 2004 or from the most recent Interest Payment Date to which interest has been paid or duly provided for, as the case may be, payable semi-annually on March 1 and September 1, commencing September 1, 2004, until the principal thereof is paid
or made available for payment; provided, however, that, with respect to any Registrable Notes, if a Registration Default occurs on any day, such Registrable Notes shall bear additional interest as a result thereof (at an incremental
rate per annum of 0.50%), as liquidated damages and not as a penalty, from such day to but not including the first day thereafter until no Registration Default is continuing or such Registrable Notes become freely transferable under the Securities
Act, all in accordance with the provisions of the Registration Rights Agreement; and provided, further, that any amount of interest on any Note which is overdue shall bear interest (to the extent that payment thereof shall be legally
enforceable) at the rate per annum then borne by such Note from the date such amount is due to the day it is paid or made available for payment, and such overdue interest shall be paid as provided in Section 306 of the Base Indenture. Accrued
additional interest, if any, shall be paid in cash in arrears semi-annually on the Interest Payment Dates in each year, commencing on the first Interest Payment Date after the day on which the relevant Registration Default occurs. 
  

	Section	202. Forms Generally. 

  
 The Notes and the Guarantees annexed thereto or endorsed thereon shall be in substantially the forms set forth in this Section 202, with such appropriate
insertions, omissions, substitutions and other variations as are required or permitted by this Second Supplemental Indenture, and may have such letters, numbers or other marks of identification and such legends or endorsements placed thereon as may
be required to comply with the rules of any securities exchange or as may, consistently herewith, be determined by the officers executing such Notes, as evidenced by their execution thereof, with Guarantees duly annexed thereto or endorsed thereon.

  
 Upon their original issuance, Notes offered and sold to
Qualified Institutional Buyers in accordance with Rule 144A shall be issued in the form of one or more Global Notes in definitive, fully registered form, with Guarantees annexed thereto or endorsed thereon, without coupons, substantially in the form
set forth in this Section 202, with such applicable legends as provided herein (each, a “Restricted Global Note”). Such Restricted Global Notes shall be registered in the name of the Depositary, or its nominee, and deposited with the
Trustee, at its Corporate Trust Office, as custodian for the Depositary, duly executed by the Company, with Guarantees duly annexed thereto or endorsed thereon, and authenticated by the Trustee as hereinafter provided. 

  

 5 

 
The aggregate amount of any Restricted Global Notes may from time to time be increased or decreased by adjustments made on the records of the Trustee, as
custodian for the Depositary, as provided in Section 203 hereof. 
  
 Upon their original issuance, Notes offered and sold in reliance on Regulation S shall initially be issued in the form of one or more Global Notes in definitive, fully registered form, with Guarantees annexed thereto or endorsed thereon,
without coupons, substantially in the form set forth in this Section 202, with such applicable legends as provided herein (each, a “Regulation S Global Note”). Such Regulation S Global Notes shall be registered in the name of the
Depositary, or its nominee, and deposited with the Trustee, at its Corporate Trustee Office, as custodian for the Depositary, duly executed by the Company, with Guarantees duly annexed thereto or endorsed thereon, and authenticated by the Trustee as
herein provided, for credit by the Depositary to the respective accounts of beneficial owners of such Notes (or to such other accounts as they may direct) at Euroclear or Clearstream. After such time as the applicable Restricted Period shall have
terminated, each such Regulation S Global Note shall be referred to herein as an “Unrestricted Global Note”. The aggregate principal amount of any Regulation S Global Note or any Unrestricted Global Note may from time to time be increased
or decreased by adjustments made on the records of the Trustee, as custodian for the Depositary, as provided in Section 203 hereof. 
  
 For all purposes of this Second Supplemental Indenture, the term “Restricted Notes” shall include all Notes, together with Guarantees of the
Guarantor annexed thereto or endorsed thereon, issued upon registration or transfer of, in exchange for or in lieu of, Restricted Notes except as otherwise provided in Section 203 hereof. 
  
 (a) Form of Face of Note. 
  
 [INCLUDE IF NOTE IS A GLOBAL NOTE — THIS IS A GLOBAL NOTE WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO, AS SUPPLEMENTED BY THE
FIRST SUPPLEMENTAL INDENTURE AND AS FURTHER SUPPLEMENTED BY THE SECOND SUPPLEMENTAL INDENTURE, AND IS REGISTERED IN THE NAME OF THE DEPOSITARY OR A NOMINEE OF THE DEPOSITARY, WHICH MAY BE TREATED BY AMÉRICA MÓVIL, S.A. DE C.V., THE
TRUSTEE AND ANY AGENT THEREOF AS OWNER AND HOLDER OF THIS NOTE FOR ALL PURPOSES.] 
  
 [INCLUDE IF NOTE IS A GLOBAL NOTE AND THE DEPOSITARY IS THE DEPOSITORY TRUST COMPANY— UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY TO AMÉRICA
MÓVIL, S.A. DE C.V. OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IN EXCHANGE FOR THIS CERTIFICATE OR ANY PORTION HEREOF IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY), ANY TRANSFER, PLEDGE OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON OTHER THAN THE DEPOSITORY TRUST COMPANY OR A NOMINEE 

  

 6 

 
THEREOF IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
  
 UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR REGISTERED NOTES IN
DEFINITIVE REGISTERED FORM IN THE LIMITED CIRCUMSTANCES REFERRED TO IN THE INDENTURE, AS SUPPLEMENTED BY THE FIRST SUPPLEMENTAL INDENTURE AND AS FURTHER SUPPLEMENTED BY THE SECOND SUPPLEMENTAL INDENTURE, THIS GLOBAL NOTE MAY NOT BE TRANSFERRED
EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH
SUCCESSOR DEPOSITARY.] 
  
 [INCLUDE IF NOTE IS A RESTRICTED
GLOBAL NOTE (UNLESS, PURSUANT TO SECTION 203 OF THE SECOND SUPPLEMENTAL INDENTURE, THE COMPANY DETERMINES AND CERTIFIES TO THE TRUSTEE THAT THE LEGEND MAY BE REMOVED) — NEITHER THIS GLOBAL NOTE, ANY BENEFICIAL INTEREST HEREIN NOR THE
GUARANTEE HEREOF HAS BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”). NEITHER THIS GLOBAL NOTE, ANY BENEFICIAL INTEREST HEREIN NOR THE GUARANTEE HEREOF MAY BE OFFERED, SOLD, PLEDGED OR OTHERWISE
TRANSFERRED EXCEPT (1) TO A PERSON WHOM THE SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE 144A UNDER THE SECURITIES ACT PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER
OR BUYERS IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (2) IN AN OFFSHORE TRANSACTION COMPLYING WITH RULE 903 OR RULE 904 OF REGULATION S UNDER THE SECURITIES ACT, (3) PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT
PROVIDED BY RULE 144 THEREUNDER (IF AVAILABLE) OR (4) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT (PROVIDED THAT AS A CONDITION TO REGISTRATION OF TRANSFER OF THIS GLOBAL NOTE OTHERWISE THAN AS SET FORTH ABOVE,
AMÉRICA MÓVIL, S.A. DE C.V., OR THE TRUSTEE MAY REQUIRE DELIVERY OF ANY DOCUMENTS OR OTHER EVIDENCE THAT IT, IN ITS DISCRETION, DEEMS NECESSARY OR APPROPRIATE TO EVIDENCE COMPLIANCE WITH THE EXEMPTION REFERRED TO IN CLAUSE (3) ABOVE),
AND, IN EACH CASE, IN ACCORDANCE WITH ALL APPLICABLE SECURITIES LAWS OF THE STATES OF THE UNITED STATES AND OTHER JURISDICTIONS. 
  
 [INCLUDE IF NOTE IS A REGULATION S GLOBAL NOTE (UNLESS, PURSUANT TO SECTION 203 OF THE SECOND SUPPLEMENTAL INDENTURE, THE COMPANY DETERMINES AND
CERTIFIES TO THE TRUSTEE THAT THE LEGEND MAY BE REMOVED) — THIS NOTE HAS NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED, (THE “SECURITIES ACT”), AND MAY NOT BE OFFERED, SOLD OR DELIVERED IN THE UNITED STATES
OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, ANY U.S. PERSON, UNLESS SUCH NOTES ARE REGISTERED UNDER THE SECURITIES ACT OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS THEREOF IS AVAILABLE. THE FOREGOING 

  

 7 

 
SHALL NOT APPLY FOLLOWING THE EXPIRATION OF 40 DAYS FROM THE LATER OF (i) THE DATE ON WHICH THESE NOTES WERE FIRST OFFERED AND (ii) THE DATE OF ISSUANCE OF
THESE NOTES.] 
  
 AMÉRICA MÓVIL, S.A. DE C.V.

 5.500% SENIOR NOTES DUE 2014 
  
 [If Restricted Global Note — CUSIP Number: 02364W AB 1 / ISIN Number: US02364WAB19] [If Regulation S Global Note — CUSIP Number: P0280A AV 3 / ISIN Number:
USP0280AAV37] 
  

			
	No.	  	 U.S.$

  
 América
Móvil, S.A. de C.V. (herein called the “Company”, which term includes any successor Person under the Indenture, as supplemented by the First Supplemental Indenture and as further supplemented by the Second Supplemental Indenture
hereinafter referred to), a sociedad anónima de capital variable organized and existing under the laws of the United Mexican States (“Mexico”), for value received, hereby promises to pay to
                , or registered assigns, the principal sum of                  Dollars
[if the Note is a Global Note, then insert — or such other principal amount (which, when taken together with the principal amounts of all other Outstanding Notes, shall initially equal
U.S.$                 in the aggregate, provided, however, that the Company may from time to time or at any time, without the consent of the Holders of the
Notes, issue additional notes, with Guarantees of the Guarantor duly annexed thereto or endorsed thereon, with terms and conditions identical to those of the Notes, which additional notes, together with Guarantees of the Guarantor duly annexed
thereto or endorsed thereon, shall increase the aggregate principal amount of, and shall be consolidated and form a single series with, the Notes) as may be set forth in the records of the Trustee hereinafter referred to in accordance with the
Indenture, as supplemented by the First Supplemental Indenture and as further supplemented by the Second Supplemental Indenture,] on March 1, 2014 and to pay interest thereon from March 9, 2004 or from the most recent Interest Payment Date to which
interest has been paid or duly provided for, as the case may be, semi-annually on March 1 and September 1 in each year, commencing September 1, 2004 at the rate of 5.500% per annum, until the principal hereof is paid or made available for payment,
provided [if the Note is a Registrable Note, then insert — that, upon the occurrence of a Registration Default in accordance with the Registration Rights Agreement, the per annum interest rate borne by this Note shall increase by
adding 0.50% thereto, as liquidated damages and not as a penalty, for the period from the first day on which such Registration Default occurs to but not including the first day thereafter until no Registration Default is continuing or such
Registrable Notes become freely transferable under the Securities Act, all in accordance with the provisions of the Registration Rights Agreement, and in which case the Company shall provide notice to the Trustee of such increase in interest rate,
and shall cause the Trustee to provide appropriate notice thereof to the Holder of this Note; and provided, further,] that any amount of interest on this Note which is overdue shall bear interest (to the extent that payment thereof shall be
legally enforceable) at the rate per annum then borne by this Note from the date such amount is due to but not including the day it is paid or made available for payment, and such overdue interest shall be paid as provided in Section 306 of the Base
Indenture. 
  
 The interest so payable, and punctually paid or
duly provided for, on any Interest Payment Date shall, as provided in such Indenture and Second Supplemental Indenture, be paid to 

  

 8 

 
the Person in whose name this Note (or one or more Predecessor Notes) is registered at the close of business on the Regular Record Date for such interest,
which shall be February 15 or August 15 (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date [if the Note is a Registrable Note, then insert —, provided that any accrued and unpaid
interest (including additional interest as a result of any Registration Default, if applicable) on this Note upon the issuance of an Exchange Note in exchange for this Note shall cease to be payable to the Holder hereof and shall be payable instead
on the next Interest Payment Date for such Exchange Note to the Holder thereof on the related Regular Record Date]. Any such interest not so punctually paid or duly provided for shall forthwith cease to be payable to the Holder on the relevant
Regular Record Date and may either be paid to the Person in whose name this Note (or one or more Predecessor Notes) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the
Trustee, notice whereof shall be given to Holders of the Notes not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the
Note may be listed, and upon such notice as may be required by such exchange, all as more fully provided in the Indenture or Second Supplemental Indenture. Interest on this Note shall be computed on the basis set forth in the Indenture and Second
Supplemental Indenture. 
  
 Payment of the principal of and
interest on this Note shall be made at the office of the Trustee or agency of the Company in the Borough of Manhattan, New York City, New York, maintained for such purpose and at any other office or agency maintained by the Company for such purpose,
in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts against surrender of this Note in the case of any payment due at the Maturity of the principal thereof (other
than any payment of interest that first becomes payable on a day other than an Interest Payment Date); provided, however, that at the option of the Company payment of interest may be made by check mailed to the address of the Person
entitled thereto as such address shall appear in the Securities Register; and provided, further, that all payments of the principal of and interest on this Note, the Permitted Holders of which have given wire transfer instructions to
the Trustee, the Company, or its agent at least 10 Business Days prior to the applicable payment date, shall be required to be made by wire transfer of immediately available funds to the accounts specified by such Permitted Holders in such
instructions. [if the Note is a Global Note, then insert — Notwithstanding the foregoing, payment of any amount payable in respect of a Global Note shall be made in accordance with the Applicable Procedures of the Depositary.]

  
 Reference is hereby made to the further provisions of this
Note set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. 
  
 Unless the certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual signature, this Note shall
not be entitled to any benefit under the Indenture and Second Supplemental Indenture or be valid or obligatory for any purpose. 
  

 9 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed under its corporate seal.

  
 Dated: 
  

			
	 AMÉRICA MÓVIL, S.A. DE C.V.

		
	By:	 	 
	 	 	 Name:

	 	 	 Title:

		
	By:	 	 
	 	 	 Name:

	 	 	 Title:

  
 (b) Form of
Reverse of Note. 
  
 This Note is a duly authorized issue of
securities of the Company (herein called the “Notes”), issued under an Indenture, dated as of March 9, 2004 (herein called the “Indenture”, which term shall have the meaning assigned to it in such instrument), as supplemented by
a First Supplemental Indenture dated as of March 9, 2004 (herein called the “First Supplemental Indenture”), as further supplemented by a Second Supplemental Indenture dated as of March 9, 2004 (herein called the “Second Supplemental
Indenture”), among the Company, Radiomóvil Dipsa, S.A. de C.V., a sociedad anónima de capital variable organized and existing under the laws of Mexico (herein called the “Guarantor,” which term includes any
successor Person under the Indenture) and JPMorgan Chase Bank, as Trustee (herein called the “Trustee”, which term includes any successor trustee under the Indenture), and reference is hereby made to the Indenture, as supplemented by the
First Supplemental Indenture and as further supplemented by the Second Supplemental Indenture, for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Guarantor, the Trustee and the
Holders of the Notes and of the terms upon which the Notes are, and are to be, authenticated and delivered. This Note is one of the series designated on the face hereof. 
  
 Additional notes on terms and conditions identical to those of this Note may be issued by the Company without the consent of
the Holders of the Notes. The amount evidenced by such additional Notes shall increase the aggregate principal amount of, and shall be consolidated and form a single series with, the Notes. 
  
 In the event of redemption of this Note in part only, a new Note of this
series and of like tenor for the unredeemed portion hereof shall be issued in the name of the Holder hereof upon the cancellation hereof. 
  
 If an Event of Default with respect to Notes shall occur and be continuing, the principal of all of the Notes may be declared due and payable in the
manner and with the effect provided in 

  

 10 

 
the Indenture, as supplemented by the First Supplemental Indenture and as further supplemented by the Second Supplemental Indenture. 
  
 All payments of principal and interest in respect of the Notes shall be made
after withholding or deduction for any present or future taxes, duties, assessments or governmental charges of whatever nature imposed, levied, collected, withheld or assessed by or on behalf of Mexico or any authority therein or thereof having
power to tax (“Mexican Taxes”). In the event of any withholding or deduction for any Mexican Taxes, the Company shall pay such additional amounts (“Additional Amounts”) as will result in receipt by the Holders of Notes on the
respective due dates of such amounts as would have been received by them had no such withholding or deduction (including for any Mexican Taxes payable in respect of Additional Amounts) been required, except that no such Additional Amounts shall be
payable with respect to any payment on a Note to the extent: 
  
 (i) that any such taxes, duties, assessments or other governmental charges would not have been imposed but for (A) a connection between the Holder and Mexico other than the ownership or holding of such Note and the
mere receipt of payments with respect to such Note or (B) failure by the Holder or any other Person to comply with any certification, identification or other reporting requirement concerning the nationality, residence, identity or connection with
Mexico of the Holder or any beneficial owner of such Note if compliance is required by law, regulation or by an applicable income tax treaty to which Mexico is a party, as a precondition to exemption from, or reduction in the rate of, the tax,
assessment or other governmental charge and we have given the Holders at least 30 days’ notice prior to the first payment date with respect to which such certification, identification or reporting requirement is required to the effect that
Holders will be required to provide such information and identification; 
  
 (ii) of any such taxes, duties, assessments or other governmental charges with respect to a Note presented for payment more than 15 days after the date on which such payment became due and payable or the date on which
payment thereof is duly provided for and notice thereof given to Holders, whichever occurs later, except to the extent that the Holder of such Note would have been entitled to such Additional Amounts on presenting such Note for payment on any date
during such 15-day period; 
  
 (iii) of estate,
inheritance, gift or other similar taxes, assessments or other governmental charge imposed with respect to a Note; 
  
 (iv) any tax, duty, assessment or other governmental charge payable otherwise than by deduction or withholding from payments on any series
of Notes; and 
  
 (v) any payment on a Note to a
Holder who is a fiduciary or partnership or a person other than the sole beneficial owner of any such payment, to the extent that a beneficiary or settlor with respect to such fiduciary, a member of such a partnership or the beneficial owner of such
payment would not have been entitled to the Additional Amounts had such beneficiary, settlor, member or beneficial owner been the Holder of such Note. 
  
 For purposes of the provisions described in Clause (i) above, the term “Holder” of any Note means the direct nominee of any beneficial owner of
such Note, which holds such beneficial 

  

 11 

 
owner’s interest in such Note. Notwithstanding the foregoing, the limitations on the Company’s obligation to pay Additional Amounts set forth in
Clause (i)(B) above shall not apply if (a) the provision of information, documentation or other evidence described in such Clause (i)(B) would be materially more onerous, in form, in procedure or in the substance of information disclosed, to a
Holder or beneficial owner of a Note (taking into account any relevant differences between U.S. and Mexican law, regulation or administrative practice) than comparable information or other reporting requirements imposed under U.S. tax law (including
the United States—Mexico Income Tax Treaty), regulations (including proposed regulations) and administrative practice or (b) Rule 3.25.15 is in effect, unless the provision of the information, documentation or other evidence described in such
Clause (i)(B) is expressly required by statute, regulation, rule or administrative practice in order to apply Rule 3.25.15 and the Company cannot obtain such information, documentation or other evidence on its own through reasonable diligence and
the Company otherwise would meet the requirements for application of Rule 3.25.15. In addition, such Clause (i)(B) shall not be construed to require that a non-Mexican pension or retirement fund or a non-Mexican financial institution or any other
Person register with the Ministry of Finance and Public Credit for the purpose of establishing eligibility for an exemption from or reduction of Mexican withholding tax. 
  
 The Company shall provide the Trustee with the constancia or other relevant documentation, if any, (which may consist
of certified copies of such documentation) satisfactory to the Trustee evidencing the payment of Mexican Taxes in respect of which the Company has paid any Additional Amounts. Copies of such documentation shall be made available to the Holders of
the Notes or the Paying Agent, as applicable, upon request therefor. 
  
 The Company shall pay all stamp, issue, registration, documentary or other similar duties, if any, which may be imposed by Mexico or any governmental entity or political subdivision therein or thereof, or any taxing authority of or in any
of the foregoing, with respect to the Indenture, the First Supplemental Indenture, the Second Supplemental Indenture or the issuance of the Notes. 
  
 All references herein, in the Indenture, in the First Supplemental Indenture, the Second Supplemental Indenture, the Notes or the Guarantees, to
principal, premium, if any, or interest or any other amount payable in respect of any Note shall be deemed to include all Additional Amounts, if any, payable in respect of such principal, premium, interest or other amount payable, unless the context
otherwise requires, and express mention of the payment of Additional Amounts in any provision hereof shall not be construed as excluding reference to Additional Amounts in those provisions hereof where such express mention is not made. 

 
 In the event that Additional Amounts actually paid with respect to the
Notes pursuant to the preceding paragraphs are based on rates of deduction or withholding of withholding taxes in excess of the appropriate rate applicable to the Holder of such Notes, and, as a result thereof such Holder is entitled to make claim
for a refund or credit of such excess from the authority imposing such withholding tax, then such Holder shall, by accepting such Notes, be deemed to have assigned and transferred all right, title, and interest to any such claim for a refund or
credit of such excess to the Company. However, by making such assignment, the Holder makes no representation or warranty that the Company shall be entitled to receive such claim for a refund or credit and incurs no other obligation with respect
thereto. 
  

 12 

 All references in the Indenture, the First Supplemental Indenture, the Second Supplemental Indenture, the
Notes and the Guarantees to principal in respect of any Note shall be deemed to mean and include any Redemption Price or Repurchase Price payable in respect of such Note pursuant to any redemption or repurchase right hereunder (and all such
references to the Stated Maturity of the principal in respect of any Note shall be deemed to mean and include the Redemption Date with respect to any such Redemption Price and the Repurchase Date with respect to any such Repurchase Price), and all
such references to principal, premium, interest or Additional Amounts shall be deemed to mean and include any amount payable in respect hereof pursuant to Section 1010 of the Indenture. 
  
 The Notes are subject to redemption upon not less than 30 nor more than 60 days’ notice by mail, at any time:

  
 (i) as a whole but not in part, at the
election of the Company, at a cash price equal to the sum of (A) the principal amount of the Notes being redeemed, (B) accrued and unpaid current interest thereon to but not including the date fixed for redemption, and (C) any Additional Amounts
which would otherwise be payable up to but not including the date fixed for redemption, if, as a result of any amendment to, or change in, the laws (or any laws, rules, or regulations thereunder) of Mexico or any political subdivision or taxing
authority thereof or therein affecting taxation or any amendment to or change in an official interpretation, administration or application of such laws, rules, or regulations (including a holding by a court of competent jurisdiction), which
amendment or change of such laws, rules, or regulations becomes effective on or after the date of the Second Supplemental Indenture, the Company would be obligated, after making reasonable endeavors to avoid such requirement, to pay Additional
Amounts in excess of the Additional Amounts that the Company would be obligated to pay if payments made on the Notes were subject to withholding or deduction of Mexican Taxes at the rate of 10%; and 
  
 (ii) in whole or in part, at a Redemption Price equal to the
greater of (A) 100% of the principal amount of such Notes and (B) the sum of the present values of the remaining scheduled payments of principal and interest thereon (exclusive of interest accrued to the date of redemption) discounted to the
Redemption Date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at, in each case, the Treasury Rate plus basis points, plus, in the case of (A) and (B), accrued interest on the principal amount of such Notes to
(but not including) the date of redemption. 
  
 For purposes of
Clause (ii) above, the following terms shall have the specified meanings: 
  
 “Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal to the semiannual equivalent yield to maturity or interpolated maturity (on a day count basis) of the Comparable Treasury
Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such Redemption Date. 
  
 “Comparable Treasury Issue” means the United States Treasury security or securities selected by an Independent
Investment Banker as having an actual or interpolated maturity comparable to the remaining term of the Notes to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in 

  

 13 

 
pricing new issues of corporate debt securities of a comparable maturity to the remaining term of such notes. 
  
 “Independent Investment Banker” means one of the Reference
Treasury Dealers appointed by the Company. 
  
 “Comparable
Treasury Price” means, with respect to any Redemption Date, (x) the average of the Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest such Reference Treasury Dealer Quotation or (y) if the
Trustee obtains fewer than four such Reference Treasury Dealer Quotations, the average of all such quotations. 
  
 “Reference Treasury Dealer” means each of J.P. Morgan Securities Inc. and Morgan Stanley & Co. Incorporated or their Affiliates which are
primary United States government securities dealers and two other leading primary United States government securities dealers in New York City reasonably designated by the Company; provided, however, that if any of the foregoing shall cease to be a
primary United States government securities dealer in New York City (a “Primary Treasury Dealer”), the Company shall substitute therefor another Primary Treasury Dealer. 
  
 “Reference Treasury Dealer Quotation” means, with respect to each Reference Treasury Dealer and any Redemption
Date, the average, as determined by the Trustee, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Trustee by such Reference Treasury Dealer at
3:30 pm New York time on the third Business Day preceding such Redemption Date. 
  
 The Indenture, as supplemented by the First Supplemental Indenture and as further supplemented by the Second Supplemental Indenture, permits, with certain exceptions as therein provided, the amendment thereof and the
modification of the rights and obligations of the Company and the Guarantor, on the one hand, and the rights of the Holders of the Notes of each series, on the other hand, to be affected under the Indenture, as supplemented by the First Supplemental
Indenture and as further supplemented by the Second Supplemental Indenture, at any time by the Company, the Guarantor and the Trustee with the consent of the Holders of a majority in principal amount of the Notes at the time Outstanding all series
to be affected (considered together as one class for this purpose). The Indenture also contains provisions (i) permitting the Holders of a majority in principal amount of the Notes at the time Outstanding of all series to be affected under the
Indenture as supplemented by the First Supplemental Indenture and as further supplemented by the Second Supplemental Indenture (considered together as one class for this purpose), on behalf of the Holders of all Notes of such series, to waive
compliance by the Company with certain provisions of the Indenture as supplemented by the First Supplemental Indenture and as further supplemented by the Second Supplemental Indenture and (ii) permitting the Holders of a majority in principal amount
of the Notes at the time Outstanding of any series to be affected under the Indenture as supplemented (with each such series considered separately for this purpose), on behalf of the Holders of all Notes of such series, to waive certain past
defaults under the Indenture as supplemented by the First Supplemental Indenture and as further supplemented by the Second Supplemental Indenture and their consequences. Any such consent or waiver by the Holder of this Note shall be conclusive and
binding upon such Holder and upon all future Holders of this Note and of any Note issued upon 

  

 14 

 
the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Note.

  
 As provided in and subject to the provisions of the Indenture,
as supplemented by the First Supplemental Indenture and as further supplemented by the Second Supplemental Indenture, the Holder of this Note shall not have the right to institute any proceeding with respect to the Indenture, the First Supplemental
Indenture, the Second Supplemental Indenture or for the appointment of a receiver or trustee, or for any other remedy thereunder, unless such Holder shall have previously given the Trustee written notice of a continuing Event of Default with respect
to the Notes, the Holders of not less than 25% in principal amount of the Notes at the time Outstanding shall have made written request to the Trustee to institute proceedings in respect of such Event of Default as Trustee and offered the Trustee
indemnity reasonably satisfactory to it, and the Trustee shall not have received from the Holders of a majority in principal amount of Notes at the time Outstanding a direction inconsistent with such request, and shall have failed to institute any
such proceeding, for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit instituted by the Holder of this Note for the enforcement of any payment of principal hereof or any premium and
interest hereon on or after the respective due dates expressed herein. 
  
 No reference herein to the Indenture, the First Supplemental Indenture or the Second Supplemental Indenture and no provision of this Note or of the Indenture, the First Supplemental Indenture or the Second Supplemental Indenture shall alter
or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and any premium and interest on this Note at the times, place and rate, and in the coin or currency, herein prescribed. 
  
 As provided in the Indenture, the First Supplemental Indenture and the Second
Supplemental Indenture and subject to certain limitations therein set forth (including, without limitation, the restrictions on transfer under Sections 202 and 203 of the Second Supplemental Indenture) the transfer of this Note is registrable in the
Security Register, upon surrender of this Note for registration of transfer at the office of the Trustee or agency of the Company in any place where the principal of and any premium and interest on this Note are payable, duly endorsed by, or
accompanied by a written instrument of transfer in form satisfactory to the Company, the Guarantor and the Security Registrar duly executed by, the Holder thereof or his attorney duly authorized in writing, and thereupon one or more new Notes of
this series and of like tenor, of authorized denominations and for the same aggregate principal amount, shall be issued to the designated transferee or transferees. 
  
 The Notes are issuable only in registered form without coupons in denominations of U.S.$100,000 and integral multiples of
U.S.$1,000 in excess thereof. As provided in the Indenture, as supplemented by the First Supplemental Indenture and as further supplemented by the Second Supplemental Indenture, and subject to certain limitations therein set forth, Notes are
exchangeable for a like aggregate principal amount of Notes of like tenor of a different authorized denomination, as requested by the Holder surrendering the same. 
  
 No service charge shall be made for any such registration of transfer or exchange, but the Company or the Trustee may
require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 
  

 15 

 Prior to due presentment of this Note for registration of transfer, the Company, the Guarantor, the
Trustee and any agent of the Company, the Guarantor or of the Trustee may treat the Person in whose name this Note is registered as the owner hereof for all purposes, whether or not this Note is overdue, and neither the Company, the Guarantor, the
Trustee nor any such agent shall be affected by notice to the contrary. 
  
 [If the Note is a Global Note, then insert — This Note is a Global Note and is subject to the provisions of the Indenture and the Second Supplemental Indenture relating to Global Notes, including the limitations in Section 203
of the Second Supplemental Indenture on transfers and exchanges of Global Notes.] 
  
 This Note, the Guarantees, the Indenture, the First Supplemental Indenture and the Second Supplemental Indenture shall be governed by, and construed in accordance with, the laws of the State of New York. 

 
 All terms used in this Note which are defined in the Indenture, as
supplemented by the First Supplemental Indenture and as further supplemented by the Second Supplemental Indenture, shall have the meanings assigned to them in the Indenture, as supplemented by the First Supplemental Indenture and as further
supplemented by the Second Supplemental Indenture. 
  

  
 ABBREVIATIONS 
  
 The following abbreviations, when used in the inscription of the face of this Note, shall be construed as though they were written out in full according
to applicable laws or regulations: 
  

			
	 TEN COM - as tenants in common
	  	 UNIF GIFT MIN ACT—______________
                                        
                 (Cust)

	 TEN ENT - as tenants by the entireties
	  	 Custodian _____________ under Uniform
                             (Minor)

	 JT TEN - as joint tenants with right of survivorship and not as tenants in common
	  	 Gifts to Minors Act ________________
                                        
         (State)

  
 Additional
abbreviations may also be used 
 though not in the above list. 
  

  
 (c) Form of Guarantee. 
  
 Radiomóvil
Dipsa, S.A. de C.V., a sociedad anónima de capital variable organized and existing under the laws of Mexico (the “Guarantor”), hereby fully and unconditionally guarantees (such guarantee being referred to herein as the
“Guarantee”), in accordance with the terms of the Indenture, dated as of March 9, 2004 (the “Indenture”), among América Móvil, S.A. de C.V., the Guarantor and JPMorgan Chase Bank, as Trustee, the full and punctual
payment when due, whether at maturity, upon redemption, by acceleration or otherwise, of the principal of, premium, if any, and interest on, and any other amounts due under the Notes 

  

 16 

 
and all other obligations of the Company under the Indenture, as supplemented by the First Supplemental Indenture and as further supplemented by the Second
Supplemental Indenture. Capitalized terms used but not defined herein shall have the respective meanings given to them in the Indenture, as supplemented by the First Supplemental Indenture and as further supplemented by the Second Supplemental
Indenture. 
  
 The obligations of the Guarantor to the Holders and
to the Trustee pursuant to the Guarantee and the Indenture, as supplemented by the First Supplemental Indenture and as further supplemented by the Second Supplemental Indenture, shall be limited to the maximum amount as shall, after giving effect to
all other liabilities (fixed and contingent) of the Guarantor, result in the obligations of the Guarantor under the Guarantees not constituting a fraudulent conveyance or fraudulent transfer under applicable law. 
  
 The obligations of the Guarantor to the Holders and to the Trustee pursuant
to the Guarantee and the Indenture, as supplemented by the First Supplemental Indenture and as further supplemented by the Second Supplemental Indenture, are expressly set forth, to the extent and in the manner provided, in Article Eleven of the
Indenture, as supplemented by the First Supplemental Indenture and as further supplemented by the Second Supplemental Indenture, and reference is hereby made to such Indenture, as supplemented by the First Supplemental Indenture and as further
supplemented by the Second Supplemental Indenture, for the precise terms of the Guarantee therein made. 
  
 The Guarantee shall not be valid or obligatory for any purpose until the certificate of authentication on the Notes upon which the Guarantee is noted
shall have been executed by the Trustee under the Indenture, as supplemented by the First Supplemental Indenture and as further supplemented by the Second Supplemental Indenture, by the manual signature of one of its authorized signatories.

  
 The Guarantee shall be governed by, and construed in
accordance with, the laws of the State of New York. 
  
 The
Guarantee is subject to release upon the terms set forth in the Indenture as supplemented by the First Supplemental Indenture and as further supplemented by the Second Supplemental Indenture. 
  
 IN WITNESS WHEREOF, the Guarantor has caused this Guarantee to be duly
executed. 
  

			
	RADIOMÓVIL DIPSA, S.A. de C.V.,
		
	By:	 	 
	 	 	 Name:
 Title:

		
	By:	 	 
	 	 	 Name:
 Title:

  

 17 

	Section 203.	Transfers and Exchanges 

  
 (a) Restricted Notes. Restricted Notes shall be subject to the restrictions on transfer (the “Transfer Restrictions”) provided in the
applicable legend(s) (the “Restrictive Legends”) required to be set forth on the face of each Restricted Note pursuant to Section 202, unless compliance with the Transfer Restrictions shall be waived by the Company and the Guarantor in
writing delivered to the Trustee. 
  
 The Transfer Restrictions
shall cease and terminate with respect to any particular Restricted Note upon receipt by the Company and the Guarantor of evidence satisfactory to them (which may include an opinion of independent counsel experienced in matters of U.S. federal
securities law) that, as of the date of determination, such Restricted Note (a) has been transferred by the Holder thereof pursuant to Rule 144, (b) has been sold pursuant to an effective registration statement under the Securities Act, or (c) has
been transferred (i) in a transaction satisfying all the requirements of Rule 903 or 904 (as applicable) of Regulation S or (ii) pursuant to Rule 144A, and receipt by the Trustee of an Officer’s Certificate certifying that the Company and the
Guarantor have received such evidence which may include an opinion of counsel stating that the Transfer Restrictions have ceased and terminated with respect to such Note. All references in the preceding sentence to any regulation, rule or provision
thereof shall be deemed also to refer to any successor provisions thereof. In addition, the Company and the Guarantor may terminate the Transfer Restrictions with respect to any particular Restricted Note in such other circumstances as they
determine are appropriate for this purpose and shall deliver to the Trustee an opinion of counsel, if any, and Officer’s Certificate certifying that the Transfer Restrictions have ceased and terminated with respect to such Note. 
  
 At the request of the Holder and upon the surrender of such Restricted Notes,
together with Guarantees of the Guarantor annexed thereto or endorsed thereon, to the Trustee or Security Registrar for exchange in accordance with the provisions of this Section 203, any Restricted Note as to which the Transfer Restrictions shall
have terminated in accordance with the preceding paragraph shall be exchanged for a new Note of like aggregate principal amount, but without the Restrictive Legends. Any Restricted Note as to which the Restrictive Legends shall have been removed
pursuant to this paragraph (and any Note issued upon registration of transfer of, exchange for or in lieu of such Restricted Note) shall thereupon cease to be a “Restricted Note” for all purposes of this Second Supplemental Indenture.

  
 The Company shall notify the Trustee in writing of the
effective date of any registration statement registering any Restricted Notes under the Securities Act and shall ensure that any opinion of counsel received by it in connection with the removal of any Restrictive Legend is also addressed to the
Trustee. The Trustee shall not be liable for any action taken or omitted to be taken by it in good faith and without negligence on its part in accordance with such notice or any opinion of counsel. 
  
 As used in this Section 203(a), the term “transfer” encompasses any
sale, pledge, transfer or other disposition of any Notes referred to herein. 
  
 (b) Transfers Between Global Notes 
  
 (i) Restricted Global Note to Regulation S Global Note. If the owner of a beneficial interest (an “Owner Transferor”) in a Restricted Global Note wishes at any 

  

 18 

 
time to transfer such beneficial interest to a Person (an “Owner Transferee”) who wishes to take delivery thereof in the form of a beneficial
interest in a Regulation S Global Note, such transfer may be effected, subject to the Applicable Procedures, only in accordance with the provisions of this Section 203(b)(i). Upon receipt by the Trustee, as Security Registrar, at the Corporate Trust
Office of (l) written instructions given in accordance with the Applicable Procedures from the Agent Member, whose account is to be debited (an “Agent Member Transferor”) with respect to the Restricted Global Note, directing the Trustee,
as Security Registrar, to credit or cause to be credited to a specified account of another Agent Member (an “Agent Member Transferee”) (which shall be an account with Euroclear or Clearstream or both) a beneficial interest in a Regulation
S Global Note in a principal amount equal to the beneficial interest in the Restricted Global Note to be so transferred (the “Restricted Global Transferred Amount”), (2) a written order given in accordance with the Applicable Procedures
containing information regarding the account of the Agent Member Transferee to be credited with, and the Agent Member Transferor to be debited by, the Restricted Global Transferred Amount, and (3) a certificate in substantially the form set forth in
Annex A hereto given by the Owner Transferor, the Trustee, as Security Registrar, shall instruct the Depositary to reduce the principal amount of the Restricted Global Note, and to increase the principal amount of the Regulation S Global Note, by
the Restricted Global Transferred Amount, and to credit, or cause to be credited to, the account of the Agent Member Transferee a beneficial interest in the Regulation S Global Note, and to debit, or cause to be debited to, the account of the Agent
Member Transferor a beneficial interest in the Restricted Global Note, in each case having a principal amount equal to the Restricted Global Transferred Amount. 
  
 (ii) Restricted Global Note to Unrestricted Global Note. If an Owner Transferor wishes at any time to
transfer a beneficial interest in a Restricted Global Note to an Owner Transferee who wishes to take delivery thereof in the form of a beneficial interest in an Unrestricted Global Note, such transfer may be effected, subject to the Applicable
Procedures, only in accordance with this Section 203(b)(ii). Upon receipt by the Trustee, as Security Registrar, at the Corporate Trust Office of (l) written instructions given in accordance with the Applicable Procedures from the Agent Member
Transferor directing the Trustee, as Security Registrar, to credit or cause to be credited to a specified account of an Agent Member Transferee (which may but need not be an account with Euroclear or Clearstream) a beneficial interest in the
Unrestricted Global Note in a principal amount equal to the Restricted Global Transferred Amount, (2) a written order given in accordance with the Applicable Procedures containing information regarding the account of the Agent Member Transferee to
be credited with, and the account of the Agent Member Transferor to be debited for, the Restricted Global Transferred Amount, and (3) a certificate in substantially the form set forth in Annex B hereto given by the Owner Transferor, the Trustee, as
Security Registrar, shall instruct the Depositary to reduce the principal amount of the Restricted Global Note, and to increase the principal amount of the Unrestricted Global Note, by the Restricted Global Transferred Amount, and to credit, or
cause to be credited to, the account of the Agent Member Transferee a beneficial interest in the Unrestricted Global Note, and to debit, or cause to be debited to, the account of the Agent Member Transferor a beneficial interest in the Restricted
Global Note, in each case having a principal amount equal to the Restricted Global Transferred Amount. 
  

 19 

 (iii) Regulation S Global Note or Unrestricted Global Note to Restricted Global
Note. If an Owner Transferor wishes at any time to transfer a beneficial interest in a Regulation S Global Note or an Unrestricted Global Note to an Owner Transferee who wishes to take delivery thereof in the form of a beneficial interest in a
Restricted Global Note, such transfer may be effected, subject to the Applicable Procedures, only in accordance with this Section 203(b)(iii). Upon receipt by the Trustee, as Security Registrar, at the Corporate Trust Office of (1) written
instructions given in accordance with the Applicable Procedures from the Agent Member Transferor, directing the Trustee, as Security Registrar, to credit, or cause to be credited to, a specified account of an Agent Member Transferee a beneficial
interest in the Restricted Global Note in a principal amount equal to that of the beneficial interest in the Regulation S Global Note or Unrestricted Global Note to be so transferred, (2) a written order given in accordance with the Applicable
Procedures containing information regarding the account of the Agent Member Transferee to be credited with, and the account of the Agent Member Transferor (which, in the case of beneficial interest in the Regulation S Global Note, must be an account
with Euroclear or Clearstream or both) to be debited for, such beneficial interest, and (3) with respect to a transfer of a beneficial interest in the Regulation S Global Note (but not the Unrestricted Global Note), a certificate in substantially
the form set forth in Annex C hereto given by the Owner Transferor, the Trustee, as Security Registrar, shall instruct the Depositary to reduce the principal amount of the Regulation S Global Note or Unrestricted Global Note, as the case may be, and
increase the principal amount of the Restricted Global Note, by the principal amount of the beneficial interest in the Regulation S Global Note or Unrestricted Global Note to be so transferred, and to credit, or cause to be credited to, the account
of the Agent Member Transferee such beneficial interest in the Restricted Global Note, and to debit, or cause to be debited to, the account of the Agent Member Transferor such beneficial interest in the Regulation S Global Note or Unrestricted
Global Note, as the case may be. 
  
 (c) In case of any transfer
or exchange the procedures and requirements for which are not addressed in detail in this Section 203, such transfer or exchange shall be subject to such procedures and requirements as may be reasonably prescribed by the Company, the Guarantor and
the Trustee from time to time and, in the case of a transfer or exchange invoking a Global Note, the Applicable Procedures. 
  
 (d) Notwithstanding the foregoing, during the period of two years after the Closing Date (as defined in the Purchase Agreement), the Company and the
Guarantor shall not, and shall not permit any of their Affiliates that are Subsidiaries to, purchase or agree to purchase or otherwise acquire any Restricted Notes, whether as beneficial owner or otherwise (except as agent on behalf of and for the
account of customers in the ordinary course of business as a securities broker in unsolicited broker’s transactions) unless, immediately upon any such purchase, the Company, the Guarantor or any such Affiliate shall submit such Restricted Notes
to the Trustee for cancellation. The Company and the Guarantor further agree to ask their Affiliates that are not Subsidiaries to agree not to purchase or otherwise acquire any Restricted Notes, whether as beneficial owner or otherwise, except as
permitted in the preceding sentence. 
  

 20 

	Section 204.	Form of Trustee’s Certificate of Authentification 

  
 The Trustee’s certificate of authentification shall be in substantially the following form: 
  
 This is one of the Notes referred to in the within mentioned Indenture, as
supplemented by the First Supplemental Indenture and as further supplemented by the Second Supplemental Indenture. 
  
 Dated: 
  

			
	JPMorgan Chase Bank,
	 	 	as Trustee
		
	By:	 	 
	 	 	 Authorized Officer

  

	Section 205.	Maintenance of Office or Agency 

  
 With respect to any Notes that are not in the form of a Global Note, the Company shall maintain (i) in the Borough of Manhattan, New York City and (ii) in
Luxembourg, so long as the Notes are listed on the Luxembourg Stock Exchange and the rules and regulations of the Luxembourg Stock Exchange so require, an office or agency, in each case, in accordance with Section 1002 of the Base Indenture.

  

	Section 206.	Luxembourg Stock Exchange Listing 

  
 The Company shall use its best reasonable efforts to list the Notes, subject to official notice of issuance, on the Luxembourg Stock Exchange and shall
from time to time take such other actions as shall be necessary or advisable to maintain any listing of the Notes in accordance with the terms of this Section 206; provided that if such listing of the Notes shall be obtained and (i) it
subsequently becomes impracticable or unduly burdensome, in the good faith determination of the Company, to maintain, due to changes in listing requirements occurring subsequent to the date hereof or (ii) the Directive of the European Parliament and
of the Council 2003/0045 (COD) is adopted and implemented in Luxembourg in a manner that would require the Company to publish financial information according to accounting principles or standards that are materially different from those it applies
in its financial reporting under the securities laws of Mexico and the United States, the Company may de-list the Notes from the Luxembourg Stock Exchange; and, in the event of any such de-listing, the Company shall use its reasonable best efforts
to obtain an alternative admission to listing, trading and/or quotation of the Notes by another listing authority, exchange or system within or outside the European Union as it may reasonably decide, provided that if such alternative
admission is not available or is, in the Company’s reasonable opinion, unduly burdensome, the Company shall have no further obligation in respect of any listing of the Notes. 
  

 21 

 ARTICLE THREE 
  
 MISCELLANEOUS PROVISIONS 
  

	Section 301.	Separability of Invalid Provisions 

  
 In case any one or more of the provisions contained in this Second Supplemental Indenture should be invalid, illegal or unenforceable in any respect, such
invalidity, illegality or unenforceability shall not affect any other provisions contained in this Second Supplemental Indenture, and to the extent and only to the extent that any such provision is invalid, illegal or unenforceable, this Second
Supplemental Indenture shall be construed as if such provision had never been contained herein. 
  

	Section 302.	Execution in Counterparts 

  
 This Second Supplemental Indenture may be simultaneously executed and delivered in any number of counterparts, each of which when so executed and
delivered shall be deemed to be an original, and such counterparts shall together constitute but one and the same instrument. 
  

	Section 303.	Certain Matters 

  
 The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this Second Supplemental Indenture or
for or in respect of the recitals contained herein, all of which are made solely by the Company and the Guarantor. 
  

 22 

 IN WITNESS WHEREOF, the parties hereto have caused this Second Supplemental Indenture to be duly executed
on their respective behalves, all as of the day and year first above written. 
  

					
	AMÉRICA MÓVIL, S.A. de C.V.,
	 	 	as Issuer
		
	By:	 	 /S/    CARLOS J. GARCÍA MORENO ELIZONDO        

	 	 	 Name:
 Title:  
	 	 Carlos J. García Moreno Elizondo
 Attorney-in-Fact

		
	By:	 	 /S/    ALEJANDRO
CANTÚ JIMÉNEZ        

	 	 	 Name:
 Title:  
	 	 Alejandro Cantú Jiménez
 Attorney-in-Fact

  

					
	RADIOMÓVIL DIPSA, S.A. de C.V.,
	 	 	as Guarantor
		
	By:	 	 /S/    CARLOS J. GARCÍA MORENO ELIZONDO        

	 	 	 Name:
 Title:  
	 	 Carlos J. García Moreno Elizondo
 Attorney-in-Fact

		
	By:	 	 /S/    ALEJANDRO
CANTÚ JIMÉNEZ        

	 	 	 Name:
 Title:  
	 	 Alejandro Cantú Jiménez
 Attorney-in-Fact

  

					
	JPMORGAN CHASE BANK,
	 	 	as Trustee
		
	By:	 	 /S/    KAREN
FERRY        

	 	 	 Name:
 Title:  
	 	 Karen Ferry
 Vice President

  

 23 

 ANNEX A 
  
 FORM OF TRANSFER CERTIFICATE 
 FOR
TRANSFER FROM RESTRICTED GLOBAL 
 NOTE TO REGULATION S GLOBAL NOTE 
 (Transfers pursuant to § 203(b)(i) 
 of the Supplemental Indenture)

  
 JPMorgan Chase Bank, 
     as Trustee 
  

	 	Re:	5.500% Senior Notes due 2014 of  

	 	 	América Móvil, S.A. de C.V. (the “Notes”) 

  
 Reference is hereby made to the Second Supplemental Indenture, dated as of March 9, 2004 (the “Supplemental Indenture”), among América
Móvil, S.A. de C.V., as Issuer, Radiomóvil Dipsa, S.A. de C.V., as Guarantor, and JPMorgan Chase Bank, as Trustee. Capitalized terms used but not defined herein shall have the meanings given to them in the Supplemental Indenture.

  
 This letter relates to U.S.$
             principal amount of Notes which are evidenced by one or more Restricted Global Notes (CUSIP No. 02364W AB 1) and held with the Depositary in the name of [INSERT NAME OF
TRANSFEROR] (the “Transferor”). The Transferor has requested a transfer of such beneficial interest in the Notes to a person who shall take delivery thereof in the form of an equal principal amount of Notes evidenced by one or more
Regulation S Global Notes (CUSIP No. P0280A AV 3), which amount, immediately after such transfer, is to be held with the Depositary through Euroclear or Clearstream or both (Common Code: 018801949; ISIN: USP0280AAV37). 
  
 In connection with such request and in respect of such Notes, the Transferor
does hereby certify that such transfer has been effected pursuant to and in accordance with Rule 903 or Rule 904 (as applicable) under the Securities Act or Rule 144, and accordingly the Transferor does hereby further certify that: 
  
 (i) If the transfer is being effected pursuant to Rule 903
and Rule 904: 
  

	 	(1)	the offer of the Notes was not made to a person in the United States; 

  

	 	(2)	either: 

  
 (A) at the time the buy order was originated, the transferee was outside the United States or the Transferor and any person acting on its
behalf reasonably believed that the transferee was outside the United States, or 
  
 (B) the transaction was executed in, on or through the facilities of a designated offshore securities market and neither the Transferor
nor any person acting on its behalf knows that the transaction was pre-arranged with a buyer in the United States; 
  

 A-1 

	 	(3)	no directed selling efforts have been made in contravention of the requirements of Rule 903(b) or 904(b) of Regulations S, as applicable; 

  

	 	(4)	the transaction is not part of a plan or scheme to evade the registration requirements of the Securities Act; and 

  

	 	(5)	upon completion of the transaction, the beneficial interest being transferred as described above is to be held with the Depositary through Euroclear or Clearstream or both.

  
 (ii) If the transfer is being
effected pursuant to Rule 144, the Notes are being transferred in a transaction permitted by Rule 144. 
  
 This certificate and the statements contained herein are made for your benefit and the benefit of the Company, the Guarantor and the underwriters or
initial purchasers, if any, of the initial offering of such Notes being transferred. Terms used in this certificate and not otherwise defined in the Supplemental Indenture have the meanings set forth in Regulation S or Rule 144. 
  

			
	[Insert Name of Transferor]
		
	By:	 	 
	 	 	 Name:
 Title:

  
 Dated: 
  

	cc:	América Móvil, S.A. de C.V. 

	 	Radiomóvil Dipsa, S.A. de C.V. 

  

 A-2 

 ANNEX B 
  
 FORM OF TRANSFER CERTIFICATE 
 FOR
TRANSFER FROM RESTRICTED GLOBAL 
 NOTE TO UNRESTRICTED GLOBAL NOTE 
 (Transfers Pursuant to § 203(b)(ii) 
 of the Supplemental Indenture)

  
 JPMorgan Chase Bank, 
     as Trustee 
  

	 	Re:	5.500% Senior Notes due 2014 of  

	 	América Móvil, S.A. de C.V. (the “Notes”) 

  
 Reference is hereby made to the Second Supplemental Indenture, dated as of March 9, 2004 (the “Supplemental Indenture”), among América
Móvil, S.A. de C.V., as Issuer, Radiomóvil Dipsa, S.A. de C.V., as Guarantor, and JPMorgan Chase Bank, as Trustee. Capitalized terms used but not defined herein shall have the meanings given to them in the Supplemental Indenture.

  
 This letter relates to U.S.$
             principal amount of Notes which are evidenced by one or more Regulation S Global Notes (CUSIP No. P0280A AV 3) and held with the Depositary in the name of [INSERT NAME OF
TRANSFEROR] (the “Transferor”). The Transferor has requested a transfer of such beneficial interest in the Notes to a person that shall take delivery thereof in the form of an equal principal amount of Notes evidenced by one or more
Unrestricted Global Notes (CUSIP No. P0280A AV 3). 
  
 In
connection with such request and in respect of such Notes, the Transferor does hereby certify that such transfer has been effected pursuant to and in accordance with either (i) Rule 903 or Rule 904 (as applicable) under the Securities Act, or (ii)
Rule 144, and accordingly the Transferor does hereby further certify that: 
  
 (i) If the transfer has been effected pursuant to Rule 903 and Rule 904: 
  
 (1) the offer of the Notes was not made to a person in the United States; 
  
 (2) either: 
  
 (A) at the time the buy order was originated, the transferee was outside the United States or the Transferor and any person acting on its
behalf reasonably believed that the transferee was outside the United States, or 
  
 (B) the transaction was executed in, on or through the facilities of a designated offshore securities market and neither the Transferor
nor any person acting on its behalf knows that the transaction was pre-arranged with a buyer in the United States; 
  
 (3) no directed selling efforts have been made in contravention of the requirements of Rule 903(b) or 904(b) of Regulation S, as
applicable; and 
  

 B-1 

 (4) the transaction is not part of a plan or scheme to evade the registration
requirements of the Securities Act. 
  
 (ii) If
the transfer has been effected pursuant to Rule 144, the Notes have been transferred in a transaction permitted by Rule 144. 
  
 This certificate and the statements contained herein are made for your benefit and the benefit of the Company, the Guarantor and the underwriters or
initial purchasers, if any, of the Notes being transferred. Terms used in this certificate and not otherwise defined in the Supplemental Indenture have the meanings set forth in Regulation S under the Securities Act. 
  

			
	[Insert Name of Transferor]
		
	By:	 	 
	 	 	 Name:
 Title:

  
 Dated: 
  

	cc:	América Móvil, S.A. de C.V. 

	 	Radiomóvil Dipsa, S.A. de C.V. 

  

 B-2 

 ANNEX C 
  
 FORM OF TRANSFER CERTIFICATES 
 FOR
TRANSFER FROM REGULATION S GLOBAL 
 NOTE OR UNRESTRICTED GLOBAL NOTE 
 TO RESTRICTED GLOBAL NOTE 
 (Transfers Pursuant to § 203(b)(iii)

 of the Supplemental Indenture) 
  
 [Transferor Certificate] 
  
 JPMorgan Chase Bank, 
     as Trustee 
  

	 	Re:	5.500% Senior Notes due 2014 of  

	 	 	América Móvil, S.A. de C.V. (the “Notes”) 

  
 Reference is hereby made to the Second Supplemental Indenture, dated as of March 9, 2004 (the “Supplemental Indenture”), among América
Móvil, S.A. de C.V., as Issuer, Radiomóvil Dipsa, S.A. de C.V., as Guarantor, and JPMorgan Chase Bank, as Trustee. Capitalized terms used but not defined herein shall have the meanings given to them in the Supplemental Indenture.

  
 This letter relates to U.S.$
             principal amount of Notes which are evidenced by one or more Regulation S Global Notes (CUSIP No. P0280A AV 3) and held with the Depositary through [Euroclear] [Clearstream]
(Common Code: 018801949; ISIN: USP0280AAV37) in the name of [INSERT NAME OF TRANSFEROR] (the “Transferor”). The Transferor has requested a transfer of such beneficial interest in the Notes to a person that shall take delivery thereof (the
“Transferee”) in the form of an equal principal amount of Notes evidenced by one or more Restricted Global Notes (CUSIP No. 02364W AB 1). 
  
 In connection with such request and in respect of such Notes, the Transferor does hereby certify that: 
  
 (1) Such transfer is being effected in accordance with all applicable
securities laws of any state of the United States or any other jurisdiction; 
  
 (2) the Notes are being transferred in accordance with Rule 144A to a transferee whom the Transferor reasonably believes is a qualified institutional buyer within the meaning of Rule 144A and is purchasing the Notes
for its own account or any account with respect to which the transferee exercises sole investment discretion, in each case in a transaction meeting the requirements of Rule 144A; and 
  
 (3) it has notified the transferee that it has relied on Rule 144A as a basis for the exemption from the registration
requirements of the Securities Act used in connection with the transfer. 
  
 This certificate and the statements contained herein are made for your benefit and the benefit of the Company, the Guarantor and the underwriters and initial purchasers, if any, of the Notes being transferred.

  

 C-1 

			
	[Insert Name of Transferor]
		
	By:	 	 
	 	 	 Name:
 Title:

  
 Dated: 
  

	cc:	América Móvil, S.A. de C.V. 

	 	Radiomóvil Dipsa, S.A. de C.V. 

  

 C-2Registration Rights Agreement dated March 9, 2004

 Exhibit 4.6 
  
 Execution Copy 

  
 REGISTRATION RIGHTS AGREEMENT 
  
 Dated as of March 9, 2004 
  
 among 
  
 AMÉRICA MÓVIL, S.A. de C.V., 
  
 RADIOMÓVIL DIPSA, S.A. de C.V. 
  
 and 
  
 J.P. MORGAN SECURITIES INC. 
  
 and 
  
 MORGAN STANLEY & CO. INCORPORATED 
  
 as Initial Purchasers 
  

  

 REGISTRATION RIGHTS AGREEMENT dated as of March 9, 2004 (the “Agreement”) is entered
into by and among América Móvil, S.A. de C.V. (the “Company”), a sociedad anónima de capital variable organized under the laws of the United Mexican States (“Mexico”), Radiomóvil
Dipsa, S.A de C.V. (the “Guarantor”), a sociedad anónima de capital variable, organized under the laws of Mexico, and J.P. Morgan Securities Inc. and Morgan Stanley & Co. Incorporated (collectively, the
“Initial Purchasers”). 
  
 The Company, the
Guarantor and the Initial Purchasers are parties to the Purchase Agreement dated March 2, 2004 (the “Purchase Agreement”), which provides for the sale by the Company to the Initial Purchasers of U.S.$500,000,000 aggregate principal
amount of the 4.125% Senior Notes due 2009 (the “Notes due 2009”) and of U.S.$800,000,000 aggregate principal amount of 5.500% Senior Notes due 2014 (the “Notes due 2014” and, together with the Notes due 2009, the
“Notes”). The Notes will be guaranteed as to the payment of principal, premium, if any, and interest pursuant to the Indenture (as defined below) by the Guarantor (the “Guarantees”). As an inducement to the Initial
Purchasers to enter into the Purchase Agreement, the Company and the Guarantor have agreed to provide to the Initial Purchasers and their direct and indirect transferees the registration rights set forth in this Agreement. The execution and delivery
of this Agreement is a condition to the closing under the Purchase Agreement. 
  
 In consideration of the foregoing, the parties hereto agree as follows: 
  
 1. Definitions. As used in this Agreement, the following terms shall have the following meanings: 
  
 “Business Day” means any day that is not a
Saturday, Sunday or other day on which commercial banks in New York City or Mexico City are authorized or required by law, regulation or executive order to remain closed. 
  
 “Closing Date” shall have the meaning set forth in the Purchase Agreement. 
  
 “CNBV” means the Mexican Comisión
Nacional Bancaria y de Valores (National Banking and Securities Commission). 
  
 “Company” shall have the meaning set forth in the preamble and shall also include the Company’s successors.

  
 “Exchange Act” means the
U.S. Securities Exchange Act of 1934, as amended. 
  
 “Exchange Dates” shall have the meaning set forth in Section 2(a)(ii) hereof. 
  

 “Exchange Offer” means the exchange offer by the Company and the
Guarantor of Exchange Notes for Registrable Notes pursuant to Section 2(a) hereof. 
  
 “Exchange Offer Registration” means a registration under the Securities Act effected pursuant to Section 2(a) hereof.

  
 “Exchange Offer Registration
Statement” means an exchange offer registration statement on Form F-4 (or, if applicable, on another appropriate form) and all amendments and supplements to such registration statement, in each case including the Prospectus contained
therein, all exhibits thereto and any document incorporated by reference therein. 
  
 “Exchange Notes” means 4.125% Notes due 2009 and 5.500% Notes due 2014 issued by the Company under the Indenture
containing terms substantially identical to the Notes (except that (i) interest thereon shall accrue from the last date to which interest has been paid or duly provided for on the Notes or, if no such interest has been paid or duly provided for,
from the Closing Date, (ii) the transfer restrictions and legends relating to restrictions on ownership and transfer thereof as a result of the issuance of the Notes without registration under the Securities Act shall be eliminated, and (iii) each
of the 4.125% Notes due 2009 and the 5.500% Notes due 2014 shall be represented by one or more global Exchange Notes in book-entry form unless exchanged for Exchange Notes in definitive certificated form under the limited circumstances provided in
the Indenture) to be offered to Holders of Registrable Notes in exchange for Registrable Notes pursuant to the Exchange Offer. 
  
 “Guarantee” shall have the meaning set forth in the preamble to this Agreement. 
  
 “Guarantor” shall have the meaning set
forth in the preamble and shall also include Guarantor’s successors. 
  
 “Holders” means the Initial Purchasers, for so long as they own any Registrable Notes, and each of their successors, assigns and direct and indirect transferees who become owners of Registrable Notes
under the Indenture; provided that for purposes of Sections 4 and 5 of this Agreement, the term “Holders” shall include Participating Broker-Dealers. 
  
 “Initial Purchasers” shall have the meaning set forth in the preamble. 
  
 “Indenture” means collectively (i) the
Indenture dated as of March 9, 2004 among the Company, the Guarantor and J.P. Morgan Chase Bank, as trustee, (ii) the Supplemental Indenture dated as of March 9, 2004 relating to the Notes due 2009, and (iii) the Supplemental Indenture dated as of
March 9, 2004 relating to the Notes due 2014, in each case, as amended from time to time in accordance with the terms thereof. 
  

 2 

 “Majority Holders” means the Holders of a majority of the aggregate
principal amount of outstanding Registrable Notes; provided that, whenever the consent or approval of Holders of a specified percentage of Registrable Notes is required hereunder, Registrable Notes or Exchange Notes owned directly or
indirectly by the Company or any of its affiliates (as such term is defined in Rule 405 under the 1933 Act) shall not be counted in determining whether such consent or approval was given by the Holders of such required percentage or amount.

  
 “Participating
Broker-Dealers” shall have the meaning set forth in Section 4(a) hereof. 
  
 “Person” means an individual, partnership, limited liability company, corporation, trust or unincorporated organization,
or a government or agency or political subdivision thereof. 
  
 “Prospectus” means the prospectus included in a Registration Statement, including any preliminary prospectus, and any such prospectus as amended or supplemented by any prospectus supplement, including
a prospectus supplement with respect to the terms of the offering of any portion of the Registrable Notes covered by a Shelf Registration Statement, and by all other amendments and supplements to such prospectus, and in each case including any
document incorporated by reference therein. 
  
 “Purchase Agreement” shall have the meaning set forth in the preamble. 
  
 “Registrable Notes” means all of the Notes; provided that the Notes shall cease to be Registrable Notes when (i) a
Registration Statement with respect to such Notes shall have been declared effective under the Securities Act and such Notes shall have been disposed of pursuant to such Registration Statement, (ii) such Notes shall have been sold pursuant to Rule
144 (or any similar provision then in force, but not Rule 144A) under the Securities Act, (iii) such Notes shall have ceased to be outstanding, (iv) such Notes have been exchanged for Exchange Notes which have been registered pursuant to the
Exchange Offer Registration Statement upon consummation of the Exchange Offer unless, in the case of any Exchange Notes referred to in this clause (iv), such Exchange Notes are held by a Participating Broker-Dealer or otherwise are not freely
tradable without any limitations or restrictions under the Securities Act (in which case such Exchange Notes will be deemed to be Registrable Notes until the earlier of (A) the expiration of the period specified in Section 4(b) hereof and (B) such
time as such Exchange Notes are sold to a purchaser in whose hands such Exchange Notes are freely tradeable without any limitations or restrictions under the Securities Act) or (v) such Notes are eligible to be sold pursuant to Rule 144(k).

  
 “Registration Expenses”
means any expenses and costs incident to performance of or compliance by the Company and the Guarantor with this Agreement, including without limitation: (i) all SEC or National Association of 

  

 3 

 
Securities Dealers, Inc. registration and filing fees, (ii) all fees and expenses incurred in connection with compliance with state securities or blue sky
laws in jurisdictions designated pursuant to Section 3(d) hereof (including reasonable and documented fees and disbursements of counsel for any Underwriters or Holders in connection with blue sky qualification of any Exchange Notes or Registrable
Notes), (iii) all expenses of any Persons in preparing or assisting in preparing, word processing, printing and distributing any Registration Statement, any Prospectus and any amendments or supplements thereto, any underwriting agreements,
securities sales agreements or other similar agreements and any other documents relating to the performance of and compliance with this Agreement, (iv) any rating agency fees, (v) all fees and disbursements relating to the qualification of the
Indenture under applicable securities laws, (vi) the fees and disbursements of the Trustee and its counsel, (vii) the fees and disbursements of U.S. and Mexican and other counsel to the Company and Guarantor, and, in the case of a Shelf Registration
Statement, the reasonable and documented fees and expenses of one U.S. counsel and, if applicable, one Mexican counsel, for the Holders, the Underwriters and the Initial Purchasers (which counsel shall be Simpson Thacher & Bartlett and Mijares,
Angoitia, Cortés y Fuentes, S.C. or such other counsel as may be selected by the Majority Holders and which counsel may also be counsel for the Initial Purchasers), (viii) all fees relating to the registration of the Exchange Notes or the
Registrable Notes with the Special Section of the Registry maintained by the CNBV; (ix) all fees relating to the listing of Exchange Notes or Registrable Notes on the Luxembourg Stock Exchange, (x) the fees and disbursements of the independent
public accountants of the Company and the Guarantor; however, the term “Registration Expenses” shall exclude fees and expenses of counsel to the Underwriters (other than fees and expenses set forth in clauses (ii) and (vii) above) or the
Holders and underwriting discounts and commissions and transfer taxes, if any, relating to the sale or disposition of Registrable Notes by a Holder. 
  
 “Registration Statement” means any registration statement of the Company and the Guarantor that covers any of the
Exchange Notes or Registrable Notes pursuant to the provisions of this Agreement and all amendments and supplements to any such registration statement, including post-effective amendments, in each case including the Prospectus contained therein, all
exhibits thereto and any document incorporated by reference therein. 
  
 “SEC” means the U.S. Securities and Exchange Commission. 
  
 “Securities Act” means the U.S. Securities Act of 1933, as amended from time to time. 
  
 “Shelf Effectiveness Period” shall have the
meaning set forth in Section 2(b) hereof. 
  
 “Shelf Registration” means a registration effected pursuant to Section 2(b) hereof. 
  

 4 

 “Shelf Registration Statement” means a “shelf” registration
statement of the Company and the Guarantor that covers all the Registrable Notes (but no other securities unless approved by the Holders whose Registrable Notes are to be covered by such Shelf Registration Statement) on an appropriate form under
Rule 415 under the Securities Act, or any similar rule that may be adopted by the SEC, and all amendments and supplements to such registration statement, including post-effective amendments, in each case including the Prospectus contained therein,
all exhibits thereto and any document incorporated by reference therein. 
  
 “Trust Indenture Act” means the U.S. Trust Indenture Act of 1939, as amended from time to time, or any rules, regulations and forms promulgated thereunder. 
  
 “Trustee” means the Trustee with respect to
the Notes under the Indenture. 
  
 “Underwriter” shall have the meaning set forth in Section 3 hereof. 
  
 “Underwritten Offering” means an offering in which Registrable Notes are sold to an Underwriter for reoffering to the
public. 
  
 For purposes of this Agreement, (i) all references in
this Agreement to any Registration Statement, preliminary prospectus or Prospectus or any amendment or supplement to any of the foregoing shall be deemed to include the version filed with the SEC pursuant to its EDGAR; (ii) all references in this
Agreement to financial statements and schedules and other information which is “contained”, “included” or “stated” in any Registration Statement or Prospectus (or other similar references) shall be deemed to mean and
include all such financial statements and schedules and other information which is incorporated or deemed to be incorporated by reference in such Registration Statement or Prospectus, as the case may be; (iii) all references in this Agreement to
amendments or supplements to any Registration Statement or Prospectus shall be deemed to mean and include the filing of any document under the Exchange Act which is incorporated or deemed to be incorporated by reference in such Registration
Statement or Prospectus, as the case may be; (iv) all references in this Agreement to Rule 144, Rule 144A or Rule 405 under the Securities Act, and all references to any sections or subsections thereof or terms defined therein, shall include any
successor provisions thereto; and (v) all references in this Agreement to “days” (but not to Business Days) means calendar days. 
  
 For purposes of this Agreement, all references to the “Notes”, the “Exchange Notes”, or the “Registrable Notes” shall be
deemed to include the related Guarantees of such Notes by the Guarantor pursuant to the Indenture, except where otherwise indicated or the context otherwise requires. 
  
 2. Registration Under the Securities Act. (a) To the extent not prohibited by any applicable law or applicable
interpretations of the staff of the SEC and except in 

  

 5 

 
the circumstances contemplated by Section 2(b)(i) below, the Company and the Guarantor shall use their reasonable best efforts to (i) cause to be filed with
the SEC an Exchange Offer Registration Statement covering an offer to the Holders to exchange all the Registrable Notes for Exchange Notes as soon as practicable following the filing of the Company’s annual report on Form 20-F for the year
ended December 31, 2003, (ii) cause such Exchange Offer Registration Statement to be declared effective by the SEC as soon as practicable following filing with the SEC, and (iii) have such Registration Statement remain effective until the earlier of
(A) 120 days after the closing of the Exchange Offer and (B) such time as all Participating Broker-Dealers no longer own any Registrable Notes. The Company and the Guarantor shall commence the Exchange Offer promptly after the Exchange Offer
Registration Statement is declared effective by the SEC and use their reasonable best efforts to complete the Exchange Offer not later than 60 days after such effective date. For purposes of this Agreement, the Exchange Offer shall be deemed
completed upon the earlier to occur of (i) the Company and the Guarantor having exchanged the Exchange Notes for all outstanding Registrable Notes (other than those held by Holders that are ineligible to participate in the Exchange Offer) pursuant
to the Exchange Offer and (ii) the Company and the Guarantor having exchanged, pursuant to the Exchange Offer, Exchange Notes for all Registrable Notes that have been properly tendered and not withdrawn before the expiration of the Exchange Offer;
provided, however, that the Company and the Guarantor may, in their discretion, accept tenders of Registrable Notes for Exchange Notes subsequent to the date the Company and the Guarantor consummate the Exchange Offer with respect to
Registrable Notes tendered as of the date of initial consummation, and the Exchange Offer shall be deemed to have been consummated notwithstanding any such extension of the tender period. 
  
 The Company and the Guarantor shall commence the Exchange Offer by mailing the related Prospectus, appropriate letters of
transmittal and other accompanying documents to each Holder stating, in addition to such other disclosures as are required by applicable law: 
  
 (i) that the Exchange Offer is being made pursuant to this Agreement and that all Registrable Notes validly tendered and not properly
withdrawn will be accepted for exchange; 
  
 (ii)
the dates of acceptance for exchange (which shall be a period of at least 20 Business Days from the date such notice is mailed) (the “Exchange Dates”); 
  
 (iii) that any Registrable Note not tendered will remain outstanding and continue to accrue interest but
will not retain any rights under this Agreement; 
  
 (iv) that any Holder electing to have a Registrable Note exchanged pursuant to the Exchange Offer will be required to surrender such Registrable Note, together with the appropriate letters of transmittal, to the institution and at 

  

 6 

 
the address (located in New York City) and in the manner specified in the notice, prior to the close of business on the last Exchange Date; and 

 
 (v) that any Holder will be entitled to withdraw its
election, not later than the close of business on the last Exchange Date, in the manner specified in such notice. 
  
 As a condition to participating in the Exchange Offer, a Holder will be required to represent to the Company and the Guarantor that (i) any Exchange Notes
to be received by it will be acquired in the ordinary course of its business, (ii) at the time of the commencement of the Exchange Offer it has no arrangement or understanding with any Person to participate in the distribution (within the meaning of
the Securities Act) of the Exchange Notes in violation of the provisions of the Securities Act, (iii) it is not an “affiliate” (within the meaning of Rule 405 under Securities Act) of the Company or the Guarantor and (iv) if such Holder is
a broker-dealer, that it will receive Exchange Notes for its own account in exchange for Registrable Notes that were acquired as a result of market-making or other trading activities, and that it will deliver, to the extent required by applicable
law or regulation or SEC pronouncement, a Prospectus in connection with any resale of such Exchange Notes. 
  
 As soon as practicable after the last Exchange Date, the Company and the Guarantor shall: 
  
 (i) accept for exchange Registrable Notes or portions thereof validly tendered and not properly withdrawn
pursuant to the Exchange Offer; and 
  
 (ii)
deliver, or cause to be delivered, to the Trustee for cancellation all Registrable Notes or portions thereof so accepted for exchange by the Company and issue, and cause the Trustee to promptly authenticate and deliver to each Holder, Exchange Notes
equal in principal amount to the principal amount of the Registrable Notes surrendered by such Holder. 
  
 The Company and the Guarantor shall use their reasonable best efforts to complete the Exchange Offer as provided above and shall comply with the
applicable requirements of the Securities Act, the Exchange Act and other applicable laws and regulations in connection with the Exchange Offer. 
  
 (b) In the event that (i) the Company and the Guarantor determine that the Exchange Offer Registration provided for in Section 2(a) above is not permitted
or may not be completed as soon as practicable after the last Exchange Date because it would violate any applicable law or applicable interpretations of the Staff of the SEC, or because the Exchange Notes received by Holders are not or would not be,
upon receipt, transferable by each such holder without need for further compliance with Section 5 of the Securities Act (except for the requirement to deliver a Prospectus in connection with any resale by a Participating Broker-Dealer), (ii) the
Exchange Offer is not for any other reason completed by October 31, 2004 or (iii) upon completion of the Exchange Offer any Initial Purchaser shall so request in connection with any offering or 

  

 7 

 
sale of Registrable Notes initially purchased by it pursuant to the Purchase Agreement, the Company and the Guarantor shall use their reasonable best efforts
to cause to be filed as soon as practicable after such determination, date or request, as the case may be, a Shelf Registration Statement providing for the sale of all the Registrable Notes by the Holders thereof and to have such Shelf Registration
Statement declared effective by the SEC. 
  
 If the Company and
the Guarantor receive reasonable advance notice that they will be required to file a Shelf Registration Statement pursuant to clause (iii) of the preceding paragraph, the Company and the Guarantor shall use their reasonable best efforts to file and
have declared effective by the SEC both an Exchange Offer Registration Statement pursuant to Section 2(a) with respect to all Registrable Notes and a Shelf Registration Statement (which may be a combined Registration Statement with the Exchange
Offer Registration Statement) with respect to offers and sales of Registrable Notes held by the Initial Purchasers after completion of the Exchange Offer. 
  
 The Company and the Guarantor agree to use their reasonable best efforts to keep the Shelf Registration Statement continuously effective until expiration
of the period referred to in Rule 144(k) under the Securities Act with respect to the Registrable Notes or such shorter period that will terminate when all the Registrable Notes covered by the Shelf Registration Statement have been sold pursuant to
the Shelf Registration Statement (the “Shelf Effectiveness Period”). The Company and the Guarantor further agree to supplement or amend the Shelf Registration Statement and the related Prospectus if required by the rules,
regulations or instructions applicable to the registration form used by the Company and the Guarantor for such Shelf Registration Statement or by the Securities Act or by any other rules and regulations thereunder for shelf registration or if
reasonably requested by a Holder of Registrable Notes with respect to information relating to such Holder, and to use their reasonable best efforts to cause any such amendment to become effective and such Shelf Registration Statement and Prospectus
to become usable as soon as thereafter practicable. The Company and the Guarantor agree to furnish to the Holders of Registrable Notes copies of any such supplement or amendment promptly after its being used or filed with the SEC. 
  
 (c) The Company and the Guarantor shall pay all Registration Expenses in
connection with the registration provided in Sections 2(a) and 2(b). Each Holder shall pay all underwriting discounts and commissions and transfer taxes, if any, relating to the sale or disposition of such Holder’s Registrable Notes pursuant to
the Shelf Registration Statement. 
  
 (d) In the event that either
the Exchange Offer is not completed or the Shelf Registration Statement, if required hereby, is not declared effective by the SEC on or prior to October 31, 2004 (November 30, 2004 solely in the case of a Shelf Registration Statement pursuant to
Section 2(b)(iii) above), the interest rate on the Registrable Notes will be increased by 0.50% per annum until the Exchange Offer is completed or the Shelf Registration Statement, if required hereby, is declared effective 

  

 8 

 
by the SEC or the Notes become freely tradable under the Securities Act, at which time the increased interest shall cease to accrue. 
  
 If the Shelf Registration Statement has been declared effective by the SEC
and thereafter either ceases to be effective or the Prospectus contained therein ceases to be usable at any time during the Shelf Effectiveness Period, and such failure to remain effective or usable exists for more than 30 days (whether or not
consecutive) in any 12-month period (two suspensions not to exceed 30 days each in any 365-day period in the case of a Suspension described in Section 3), then the interest rate on the Registrable Notes will be increased by 0.50% per annum
commencing on the 31st day in such 12-month period and ending on such date that the Shelf Registration Statement has
again been declared effective or the Prospectus again becomes usable, at which time the increased interest shall cease to accrue; provided, however, that if the Prospectus ceases to be usable because audited financial statements are required to be
filed with the SEC and incorporated by reference in the Shelf Registration Statement to comply with the undertaking of the Company and the Guarantor pursuant to Item 512(a)(4) of Regulation S-K (or any successor provision), such a suspension shall
not be a suspension for purposes of the foregoing provision unless and to the extent its duration exceeds 60 days. 
  
 3. Registration Procedures. In connection with their obligations pursuant to Sections 2(a) and 2(b) hereof, the Company and the Guarantor shall as
expeditiously as possible: 
  
 (a) prepare and file with the SEC a
Registration Statement on the appropriate form under the Securities Act, which form (i) shall be selected by the Company, (ii) shall, in the case of a Shelf Registration, be available for the sale of the Registrable Notes by selling Holders thereof
and (iii) shall comply as to form in all material respects with the requirements of the applicable form and include all financial statements and other information required by the SEC to be filed therewith; and use their reasonable best efforts to
cause such Registration Statement to become effective and remain effective for the applicable period in accordance with Section 2 hereof; 
  
 (b) prepare and file with the SEC such amendments and post-effective amendments to each Registration Statement as may be necessary to keep such
Registration Statement effective for the applicable period in accordance with Section 2 hereof and cause each Prospectus to be supplemented by any required prospectus supplement and, as so supplemented, to be filed pursuant to Rule 424 under the
Securities Act; and keep each Prospectus current during the period described in Section 4(3) of and Rule 174 under the Securities Act that is applicable to transactions by brokers or dealers with respect to the Registrable Notes or Exchange Notes;

  
 (c) in the case of a Shelf Registration, furnish to each
Holder of Registrable Notes, to U.S. counsel to the Initial Purchasers, to counsel for such Holders and to each Underwriter of an Underwritten Offering of Registrable Notes, if any, without charge, as many copies of each Prospectus, including each
preliminary Prospectus, and any amendment or supplement thereto as they may reasonably request, in order to 

  

 9 

 
facilitate the sale or other disposition of the Registrable Notes thereunder; and the Company and the Guarantor consent to the use of such Prospectus and any
amendment or supplement thereto in accordance with applicable law by each of the selling Holders of Registrable Notes and any such Underwriters in connection with the offering and sale of the Registrable Notes covered by and in the manner described
in such Prospectus or any amendment or supplement thereto in accordance with applicable law; 
  
 (d) use their reasonable best efforts to register or qualify the Registrable Notes under all applicable state securities or blue sky laws of such jurisdictions as a majority of the Holders of Registrable Notes covered
by a Registration Statement shall reasonably request in writing by the time the applicable Registration Statement is declared effective by the SEC; cooperate with the Holders in connection with any filings required to be made with the National
Association of Securities Dealers, Inc.; and do any and all other acts and things that may be reasonably necessary or advisable to enable each Holder to complete the disposition in each such jurisdiction of the Registrable Notes owned by such
Holder; provided that neither the Company nor the Guarantor shall be required to (i) qualify as a foreign corporation or other entity or as a dealer in securities in any such jurisdiction where it would not otherwise be required to so
qualify, (ii) file any general consent to service of process in any such jurisdiction or (iii) subject itself to taxation in any such jurisdiction if it is not otherwise so subject; 
  
 (e) in the case of a Shelf Registration, notify each Holder of Registrable Notes, counsel for such Holders and counsel for
the Initial Purchasers promptly and, if requested by any such Holder or counsel, confirm such advice in writing (i) when a Registration Statement has become effective and when any post-effective amendment thereto has been filed and becomes
effective, (ii) of any request by the SEC or any state securities authority for amendments and supplements to a Registration Statement and Prospectus or for additional information after the Registration Statement has become effective, (iii) of the
issuance by the SEC or any state securities authority of any stop order suspending the effectiveness of a Registration Statement or the initiation of any proceedings for that purpose, (iv) if, between the effective date of a Registration Statement
and the closing of any sale of Registrable Notes covered thereby, the representations and warranties of the Company and the Guarantor contained in any underwriting agreement, securities sales agreement or other similar agreement, if any, relating to
an offering of such Registrable Notes cease to be true and correct in all material respects or if the Company receives any notification with respect to the suspension of the qualification of the Registrable Notes for sale in any jurisdiction or the
initiation of any proceeding for such purpose (to the extent that such agreement provides for such notice), (v) of the happening of any event during the period a Shelf Registration Statement is effective that makes any statement made in such
Registration Statement or the related Prospectus untrue in any material respect or that requires the making of any changes in such Registration Statement or Prospectus in order to make the statements therein not misleading and (vi) of any
determination by the Company or the Guarantor that a post-effective amendment to a Registration Statement would be appropriate; 
  

 10 

 (f) use their reasonable best efforts to obtain the withdrawal of any order suspending the effectiveness
of a Registration Statement at the earliest possible moment and provide immediate notice to each Holder of the withdrawal of any such order; 
  
 (g) use all reasonable efforts to obtain the consent or approval of each Mexican or U.S. governmental agency or authority, whether federal or state that
may be required to effect the Exchange Offer and the offering and sale of Exchange Notes; 
  
 (h) in the case of a Shelf Registration, furnish to each Holder of Registrable Notes, without charge, at least one conformed copy of each Registration Statement and any post-effective amendment thereto (without any
documents incorporated therein by reference or exhibits thereto, unless requested); 
  
 (i) in the case of a Shelf Registration, cooperate with the selling Holders of Registrable Notes to facilitate the timely preparation and delivery of certificates representing Registrable Notes to be sold and not
bearing any restrictive legends and enable such Registrable Notes to be issued in such denominations and registered in such names (consistent with the provisions of the Indenture) as the selling Holders may reasonably request at least one Business
Day prior to the closing of any sale of Registrable Notes; 
  
 (j)
in the case of a Shelf Registration, upon the occurrence of any event contemplated by Section 3(e)(v) hereof, use their reasonable best efforts to prepare and file with the SEC a supplement or post-effective amendment to a Registration Statement or
the related Prospectus or any document incorporated therein by reference or file any other required document so that, as thereafter delivered to purchasers of the Registrable Notes, such Prospectus will not contain any untrue statement of a material
fact or omit to state a material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; and the Company and the Guarantor shall notify the Holders
of Registrable Notes to suspend use of the Prospectus as promptly as practicable after the occurrence of such an event, and such Holders hereby agree to suspend use of the Prospectus until the Company and the Guarantor have amended or supplemented
the Prospectus to correct such misstatement or omission; 
  
 (k)
if reasonably requested by the Initial Purchasers or Holders and their counsel, a reasonable time prior to the filing of any Registration Statement, any Prospectus, any amendment to a Registration Statement or amendment or supplement to a Prospectus
or of any document that is to be incorporated by reference into a Registration Statement or a Prospectus after initial filing of a Registration Statement (and prior to the completion of an Exchange Offer in the case of an Exchange Offer Registration
Statement), provide copies of such document to the Initial Purchasers and U.S. counsel to the Initial Purchasers (and, in the case of a Shelf Registration Statement, to the Holders of Registrable Notes and their counsel) and make such of the
representatives of the Company and the Guarantor as shall be reasonably requested by the Initial Purchasers or such counsel (and, in the case of a Shelf Registration 

  

 11 

 
Statement, the Holders of Registrable Notes or their counsel) available for discussion of such document; and, in such event, the Company and the Guarantor
shall not, at any time after initial filing of a Registration Statement, file any Prospectus, any amendment of or supplement to a Registration Statement or a Prospectus, or any document that is to be incorporated by reference into a Registration
Statement or a Prospectus, of which the Initial Purchasers and such counsel (and, in the case of a Shelf Registration Statement, the Holders of Registrable Notes and their counsel) shall not have previously been advised and furnished a copy or to
which the Initial Purchasers or such counsel (and, in the case of a Shelf Registration Statement, the Holders or their counsel) shall reasonably and timely object; 
  
 (l) obtain CUSIP and ISIN numbers for all Exchange Notes or Registrable Notes, as the case may be, not later than the
effective date of a Registration Statement, and provide the Trustee with printed or word-processed certificates for the Exchange Notes or Registrable Notes, as the case may be, in a form eligible for deposit with the Depositary; 
  
 (m) take all reasonable action necessary to maintain the registration of the
Exchange Notes, at the time of the Exchange Offer, with the Sección Especial of the Registro Nacional de Valores (the “Registry”) maintained by the CNBV; 
  
 (n) take all reasonable action necessary to ensure that the Exchange Notes,
at the time of the consummation of the Exchange Offer (or as soon as reasonably practicable thereafter), are listed on the Luxembourg Stock Exchange and take such other actions as shall be necessary or advisable to maintain such listing of the
Exchange Notes; provided that if such listing of the Exchange Notes shall be obtained and (i) it subsequently becomes impracticable or unduly burdensome, in the good faith determination of the Company, to maintain, due to changes in listing
requirements occurring subsequent to the Closing Date or (ii) the Directive of the European Parliament and of the Council 2003/0045 (COD) (the Transparency Directive) is adopted and implemented in Luxembourg in a manner that would require the
Company to publish financial information according to accounting principles or standards that are materially different from those it applies in its financial reporting under the securities laws of Mexico and the United States, the Company may
de-list the Exchange Notes from the Luxembourg Stock Exchange; and, in the event of any such de-listing, the Company shall use its reasonable best efforts to obtain an alternative admission to listing, trading and/or quotation of the Exchange Notes
by another listing authority, exchange or system within or outside the European Union as it may reasonably decide, provided that, if such alternative admission is not available or is, in the Company’s reasonable opinion, unduly
burdensome, the Company shall have no further obligation in respect of any listing of the Exchange Notes; 
  
 (o) cause the Indenture to be qualified under the Trust Indenture Act in connection with the registration of the Exchange Notes or Registrable Notes, as
the case may be; cooperate with the Trustee and the Holders to effect such changes to the Indenture as may be required for the Indenture to be so qualified in accordance with the terms of the Trust Indenture Act; and execute, and use their
reasonable best efforts to 

  

 12 

 
cause the Trustee to execute, all documents as may be required to effect such changes and all other forms and documents required to be filed with the SEC to
enable the Indenture to be so qualified in a timely manner; 
  
 (p) in the case of a Shelf Registration, make available for inspection by a representative of Holders of Registrable Notes that confirm to the Company and the Guarantor that it is their current intention to sell Registrable Notes pursuant
to a Shelf Registration (an “Inspector”), any Underwriter participating in any disposition pursuant to such Shelf Registration Statement, and counsel and accountants designated by the Holders, at reasonable times and in a reasonable
manner, all pertinent financial and other records, documents and properties of the Company and the Guarantor as may be reasonably requested by any such Inspector, Underwriter, counsel or accountant in connection with a Shelf Registration Statement,
and cause the respective officers, directors and employees of the Company and the Guarantor to supply such information; provided that if any such information is identified in writing by the Company and the Guarantor as being confidential or
proprietary, each Person receiving such information shall use such Person’s reasonable best efforts to protect the confidentiality of such information to the extent such action is otherwise not inconsistent with, an impairment of or in
derogation of the substantial and necessary rights and interests of any Inspector, Holder or Underwriter; 
  
 (q) if reasonably requested by any Holder of Registrable Notes covered by a Registration Statement, promptly incorporate in a Prospectus supplement or
post-effective amendment such information with respect to such Holder as such Holder reasonably requests to be included therein and make all required filings of such Prospectus supplement or such post-effective amendment as soon as the Company has
received notification of the matters to be incorporated in such filing; and 
  
 (r) in the case of a Shelf Registration, enter into such customary agreements and take all such other actions in connection therewith (including those requested by the Holders of a majority in principal amount of the
Registrable Notes being sold) in order to expedite or facilitate the disposition of such Registrable Notes including, but not limited to, an Underwritten Offering and in such connection, (i) to the extent possible, make such representations and
warranties to the Holders and any Underwriters of such Registrable Notes with respect to the business of the Company and the Guarantor and their respective subsidiaries, the Registration Statement, Prospectus and documents incorporated by reference
or deemed incorporated by reference, if any, in each case, in form, substance and scope as are customarily made by issuers to underwriters in underwritten offerings and confirm the same if and when requested, (ii) obtain opinions of counsel to the
Company and the Guarantor (which counsel and opinions, in form, scope and substance, shall be reasonably satisfactory to the Holders and such Underwriters and their respective counsel) addressed to each selling Holder and Underwriter of Registrable
Notes, covering the matters customarily covered in opinions requested in underwritten offerings, (iii) subject to receipt of the documentation to the extent required by Statement of Auditing Standard No. 72 (or successor pronouncements), obtain
“comfort” letters from the independent certified public accountants of the Company and the Guarantor (and, if necessary, any other 

  

 13 

 
certified public accountant of any subsidiary of the Company and the Guarantor, or of any business acquired by the Company and the Guarantor for which
financial statements and financial data are or are required to be included in the Registration Statement) addressed to each selling Holder and Underwriter of Registrable Notes, such letters to be in customary form and covering matters of the type
customarily covered in “comfort” letters in connection with underwritten offerings, (iv) deliver such documents and certificates as may be reasonably requested by the Holders of a majority in principal amount of the Registrable Notes being
sold or the Underwriters, and which are customarily delivered in underwritten offerings, to evidence the continued validity of the representations and warranties of the Company and the Guarantor made pursuant to clause (i) above and to evidence
compliance with any customary conditions contained in an underwriting agreement. 
  
 In the case of a Shelf Registration Statement, the Company and the Guarantor may require each Holder of Registrable Notes to furnish to the Company or the Guarantor, as the case may be, such information regarding such
Holder and the proposed disposition by such Holder of such Registrable Notes as the Company or the Guarantor may from time to time reasonably request in writing. 
  
 In the case of any Registration Statement, each Holder of Registrable Notes agrees that, upon receipt of any notice from the
Company or the Guarantor to the effect of the happening of any event of the kind described in Section 3(e)(iii) or 3(e)(iv) hereof or that the Prospectus included in any Registration Statement cannot be used for any other reason, such Holder will
forthwith discontinue disposition of Registrable Notes pursuant to such Registration Statement until such Holder’s receipt of the copies of the supplemented or amended Prospectus contemplated by Section 3(i) hereof and, if so directed by the
Company and the Guarantor, such Holder will deliver to the Company and the Guarantor all copies in its possession, other than permanent file copies then in such Holder’s possession, of the Prospectus covering such Registrable Notes that is
current at the time of receipt of such notice. The Company and the Guarantor may give any such notice only twice during any 365-day period and any such suspensions shall not exceed 30 days for each suspension and there shall not be more than two
suspensions in effect during any 365-day period; provided, however, that if the Prospectus ceases to be usable because audited financial statements are required to be filed with the SEC and incorporated by reference in the Shelf Registration
Statement to comply with the undertaking of the Company and the Guarantor pursuant to Item 512(a)(4) of Regulation S-K (or any successor provision), such a suspension shall not be a suspension for purposes of the foregoing provision unless and to
the extent its duration exceeds 60 days. 
  
 If the Company and
the Guarantor shall give any such notice to suspend the disposition of Registrable Notes pursuant to any Registration Statement, the Company and the Guarantor shall extend the period during which the Registration Statement shall be maintained
effective pursuant to this Agreement by the number of days during the period from and including the date of the giving of such notice to and including the date when the Holders shall have received copies of the supplemented or amended Prospectus
necessary to resume such dispositions. 
  

 14 

 The Holders of Registrable Notes covered by a Shelf Registration Statement who desire to do so may sell
such Registrable Notes in an Underwritten Offering. In any such Underwritten Offering, the investment banker or investment bankers and manager or managers (the “Underwriters”) that will administer the offering will be selected by
the Majority Holders of the Registrable Notes included in such offering. 
  
 4. Participation of Broker-Dealers in Exchange Offer. (a) The Staff of the SEC has taken the position that any broker-dealer that receives Exchange Notes for its own account in the Exchange Offer in exchange
for Notes that were acquired by such broker-dealer as a result of market-making or other trading activities (a “Participating Broker-Dealer”) may be deemed to be an “underwriter” within the meaning of the Securities Act
and must deliver a prospectus meeting the requirements of the Securities Act in connection with any resale of such Exchange Notes. 
  
 The Company and the Guarantor understand that it is the Staff’s position that if the Prospectus contained in the Exchange Offer Registration
Statement includes a plan of distribution containing a statement to the above effect and the means by which Participating Broker-Dealers may resell the Exchange Notes, without naming the Participating Broker-Dealers or specifying the amount of
Exchange Notes owned by them, such Prospectus may be delivered by Participating Broker-Dealers to satisfy their prospectus delivery obligation under the Securities Act in connection with resales of Exchange Notes for their own accounts, so long as
the Prospectus otherwise meets the requirements of the Securities Act. 
  
 (b) In light of the above, and notwithstanding the other provisions of this Agreement, the Company and the Guarantor agree to amend or supplement the Prospectus contained in the Exchange Offer Registration Statement, as would otherwise be
contemplated by Section 3(i), for a period of up to 120 days after the last Exchange Date (as such period may be extended pursuant to the penultimate paragraph of Section 3 of this Agreement), if requested by the Initial Purchasers or by one or more
Participating Broker-Dealers, in order to expedite or facilitate the disposition of any Exchange Notes by Participating Broker-Dealers consistent with the positions of the Staff recited in Section 4(a) above. The Company and the Guarantor further
agree that Participating Broker-Dealers shall be authorized to deliver such Prospectus during such period in connection with the resales contemplated by this Section 4. 
  
 (c) The Initial Purchasers shall have no liability to the Company, the Guarantor or any Holder with respect to any request
that they may make pursuant to Section 4(b) above. 
  
 5.
Indemnification and Contribution. (a) The Company and the Guarantor, jointly and severally, agree to indemnify and hold harmless each Initial Purchaser and each Holder, their respective affiliates, directors and officers and each Person, if
any, who controls any Initial Purchaser or any Holder within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act, from and against 

  

 15 

 
any and all losses, claims, damages and liabilities (including, without limitation, legal fees and other expenses incurred in connection with any suit,
action or proceeding or any claim asserted, as such fees and expenses are incurred), joint or several, that arise out of, or are based upon, any untrue statement or alleged untrue statement of a material fact contained in any Registration Statement
or any Prospectus or any omission or alleged omission to state therein a material fact required to be stated therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading,
except insofar as such losses, claims, damages or liabilities arise out of, or are based upon, any untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with any information furnished to the
Company or the Guarantor in writing or to any selling Holder by or on behalf of such Person expressly for use therein. In connection with any Underwritten Offering permitted by Section 3, the Company and the Guarantor, jointly and severally, will
also indemnify the Underwriters, their directors and officers and each Person who controls such Underwriters (within the meaning of the Securities Act and the Exchange Act) to the same extent as provided above with respect to the indemnification of
the Holders, if requested in connection with any Registration Statement. Notwithstanding the preceding sentences of this Section 5(a), with respect to any such untrue statement in or omission from a preliminary Prospectus, the indemnity agreement
contained in this Section 5(a) shall not inure to the benefit of any Holder to the extent that the sale to the Person asserting any such loss, claim, damage or liability was an initial resale by such Holder and any such loss, claim, damage or
liability of or with respect to such Holder results from the fact that both (i) a copy of the final Prospectus (excluding any documents incorporated by reference therein) was not sent or given to such Person at or prior to the written confirmation
of the sale of such Exchange Notes to such Person and (ii) the untrue statement in or omission from such preliminary Prospectus was corrected in the final Prospectus unless, in either case, such failure to deliver the final Prospectus was a result
of non-compliance by the Company with the provisions of Section 3 hereof. 
  
 (b) Each Holder agrees, severally and not jointly, to indemnify and hold harmless the Company, the Guarantor, the Initial Purchasers and the other selling Holders, their respective affiliates, the directors of the
Company and the Guarantor, each officer of the Company and the Guarantor who signed the Registration Statement and each Person, if any, who controls the Company, the Guarantor, any Initial Purchaser and any other selling Holder within the meaning of
Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the indemnity set forth in Section 5(a) above, but only with respect to any losses, claims, damages or liabilities that arise out of, or are based upon, any
untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with any information relating to such Holder furnished to the Company or the Guarantor in writing by such Holder expressly for use in any
Registration Statement and any Prospectus and, subject to the limitation set forth immediately preceding this clause, shall reimburse such Persons for any legal or other expenses reasonably incurred by them in connection with investigating or
defending any loss, claim, damage, liability or action in respect thereof. 
  

 16 

 (c) If any suit, action, proceeding (including any governmental or regulatory investigation), claim or
demand shall be brought or asserted against any Person in respect of which indemnification may be sought pursuant to either Section (a) or (b) above, such Person (the “Indemnified Person”) shall promptly notify the Person against
whom such indemnification may be sought (the “Indemnifying Person”) in writing; provided that the failure to notify the Indemnifying Person shall not relieve it from any liability that it may have under this Section 5 except
to the extent that it has been materially prejudiced (through the forfeiture of substantive rights or defenses) by such failure; and provided, further, that the failure to notify the Indemnifying Person shall not relieve it from any
liability that it may have to an Indemnified Person otherwise than under this Section 5. If any such proceeding shall be brought or asserted against an Indemnified Person and it shall have notified the Indemnifying Person thereof, the Indemnifying
Person shall retain counsel reasonably satisfactory to the Indemnified Person to represent the Indemnified Person and any others entitled to indemnification pursuant to this Section 5 that the Indemnifying Person may designate in such proceeding and
shall pay the fees and expenses of such counsel related to such proceeding, as incurred. In any such proceeding, any Indemnified Person shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense
of such Indemnified Person unless (i) the Indemnifying Person and the Indemnified Person shall have mutually agreed to the contrary; (ii) the Indemnifying Person has failed within a reasonable time to retain counsel reasonably satisfactory to the
Indemnified Person; (iii) the Indemnified Person shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the Indemnifying Person; or (iv) the named parties in any
such proceeding (including any impleaded parties) include both the Indemnifying Person and the Indemnified Person and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between
them. It is understood and agreed that the Indemnifying Person shall not, in connection with any proceeding or related proceeding in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to any local
counsel) for all Indemnified Persons, and that all such fees and expenses shall be reimbursed as they are incurred. Any such separate firm (x) for any Initial Purchaser, its affiliates, directors and officers and any control Persons of such Initial
Purchaser shall be jointly designated in writing by the Initial Purchasers, (y) for any Holder, its affiliates, directors and officers and any control Persons of such Holder shall be designated in writing by the Majority Holders and (z) in all other
cases shall be designated in writing by the Company. The Indemnifying Person shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the
plaintiff, the Indemnifying Person agrees to indemnify each Indemnified Person from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an Indemnified Person shall have
requested that an Indemnifying Person reimburse the Indemnified Person for fees and expenses of counsel as contemplated by this Section 5(c), the Indemnifying Person shall be liable for any settlement of any proceeding effected without its written
consent if (i) such settlement is entered into more than 30 days after receipt by the Indemnifying Person of such request and (ii) the Indemnifying Person shall not have reimbursed the Indemnified Person in accordance 

  

 17 

 
with such request prior to the date of such settlement. No Indemnifying Person shall, without the written consent of the Indemnified Person, effect any
settlement of any pending or threatened proceeding in respect of which any Indemnified Person is or could have been a party and indemnification could have been sought hereunder by such Indemnified Person, unless such settlement (A) includes an
unconditional release of such Indemnified Person, in form and substance reasonably satisfactory to such Indemnified Person, from all liability on claims that are the subject matter of such proceeding and (B) does not include any statement as to or
any admission of fault, culpability or a failure to act by or on behalf of any Indemnified Person. 
  
 (d) If the indemnification provided for in Sections (a) and (b) above is unavailable to an Indemnified Person or insufficient in respect of any losses,
claims, damages or liabilities referred to therein, then each Indemnifying Person under such Section, in lieu of indemnifying such Indemnified Person thereunder, shall contribute to the amount paid or payable by such Indemnified Person as a result
of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Company and the Guarantor from the offering of the Notes and the Exchange Notes, on the one hand, and by the
Holders from receiving Notes or Exchange Notes registered under the Securities Act, on the other hand, or (ii) if the allocation provided by clause (i) is not permitted by applicable law, in such proportion as is appropriate to reflect not only the
relative benefits referred to in clause (i) but also the relative fault of the Company and the Guarantor on the one hand and the Holders on the other in connection with the statements or omissions that resulted in such losses, claims, damages or
liabilities, as well as any other relevant equitable considerations. The relative fault of the Company and the Guarantor on the one hand and the Holders on the other shall be determined by reference to, among other things, whether the untrue or
alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Company and the Guarantor or by the Holders and the parties’ relative intent, knowledge, access to
information and opportunity to correct or prevent such statement or omission. 
  
 (e) The Company, the Guarantor and the Holders agree that it would not be just and equitable if contribution pursuant to this Section 5 were determined by pro rata allocation (even if the Holders were
treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 5(d) above. The amount paid or payable by an Indemnified Person as a result of the losses,
claims, damages and liabilities referred to in Section 5(d) above shall be deemed to include, subject to the limitations set forth above, any legal or other expenses incurred by such Indemnified Person in connection with any such action or claim.
Notwithstanding the provisions of this Section 5, in no event shall a Holder be required to contribute any amount in excess of the amount by which the total price at which the Notes or Exchange Notes sold by such Holder exceeds the amount of any
damages that such Holder has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities
Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. 
  

 18 

 (f) The remedies provided for in this Section 5 are not exclusive and shall not limit any rights or
remedies that may otherwise be available to any Indemnified Person at law or in equity. 
  
 (g) The indemnity and contribution provisions contained in this Section 5 shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on
behalf of the Initial Purchasers or any Holder, their respective affiliates or any Person controlling any Initial Purchaser or any Holder, or by or on behalf of the Company or the Guarantor, their respective affiliates or the officers or directors
of or any Person controlling the Company or the Guarantor, (iii) acceptance of any of the Exchange Notes and (iv) any sale of Registrable Notes pursuant to a Shelf Registration Statement. 
  
 6. General. 
  
 (a) Rule 144 and Rule 144A. For so long as the Company is subject to the reporting requirements of Section 13 or 15 of the Exchange Act, the
Company covenants that it will file all reports required to be filed by it under Section 13(a) or 15(d) of the Exchange Act and the rules and regulations adopted by the SEC thereunder and that if it ceases to be so required to file such reports, it
will upon the request of any Holder or beneficial owner of Registrable Notes (i) make publicly available such information (including, without limitation, the information specified in Rule 144(c)(2) under the Securities Act) as is necessary to permit
sales pursuant to Rule 144 under the Securities Act, (ii) deliver or cause to be delivered, promptly following a request by any Holder or beneficial owner of Registrable Notes or any prospective purchaser or transferee designated by such Holder or
beneficial owner, such information (including, without limitation, the information specified in Rule 144A(d)(4) under the Securities Act) as is necessary to permit sales pursuant to Rule 144A under the Securities Act, and (iii) take such further
action that is reasonable in the circumstances, in each case to the extent required from time to time to enable such Holder to sell its Registrable Notes without registration under the Securities Act within the limitation of the exemptions provided
by (A) Rule 144 under the Securities Act, as such Rule may be amended from time to time, (B) Rule 144A under the Securities Act, as such Rule may be amended from time to time, or (C) any similar rules or regulations hereafter adopted by the SEC.
Upon the request of any Holder or beneficial owner of Registrable Notes, the Company will deliver to such Holder a written statement as to whether it has complied with such requirements. 
  
 (b) Specific Performance. The Company and the Guarantor acknowledge that there would be no adequate remedy at law if
the Company and the Guarantor failed to perform any of their obligations in this Agreement (including, without limitation, their obligations under Sections 2(a) and 2(b) hereof) and that any such failure may result in material irreparable injuries
to the Initial Purchasers and the Holders from time to time of the Registrable Notes and that it will not be possible to measure damages for such injuries precisely, and, accordingly the Company and the Guarantor agree that the Initial Purchasers
and such Holders, in addition to any other remedy to which they may be entitled at law or in equity, shall be entitled to compel 

  

 19 

 
specific performance of the obligations of the Company and the Guarantor under this Agreement in accordance with the terms and conditions of this Agreement,
in any U.S. federal or New York court located in New York City. 
  
 (c) No Inconsistent Agreements. The Company and the Guarantor represent, warrant and agree that (i) the rights granted to the Holders hereunder do not in any way conflict with and are not inconsistent with the rights granted to the
holders of any other outstanding securities issued or guaranteed by the Company and the Guarantor under any other agreement and (ii) neither the Company nor the Guarantor has not entered into, or on or after the date of this Agreement will enter
into, any agreement that is inconsistent with the rights granted to the Holders of Registrable Notes in this Agreement or otherwise conflicts with the provisions hereof. 
  
 (d) Amendments and Waivers. The provisions of this Agreement, including the provisions of this sentence, may not be
amended, modified or supplemented, and waivers or consents to departures from the provisions hereof may not be given unless the Company and the Guarantor have obtained the written consent of Holders of at least a majority in aggregate principal
amount of the outstanding Registrable Notes affected by such amendment, modification, supplement, waiver or consent; provided that no amendment, modification, supplement, waiver or consent to any departure from the provisions of Section 5
hereof shall be effective as against any Holder of Registrable Notes unless consented to in writing by such Holder. Any amendments, modifications, supplements, waivers or consents pursuant to this Section 6(d) shall be by a writing executed by each
of the parties hereto. 
  
 (e) Notices. All notices and
other communications provided for or permitted hereunder shall be made in writing by hand-delivery, registered first-class mail, telex, telecopier, or any courier guaranteeing overnight delivery (i) if to a Holder, at the most current address given
by such Holder to the Company by means of a notice given in accordance with the provisions of this Section 6(e), which address initially is, with respect to the Initial Purchasers, the address set forth in the Purchase Agreement; (ii) if to the
Company and the Guarantor, initially at the Company’s address set forth in the Purchase Agreement and thereafter at such other address, notice of which is given in accordance with the provisions of this Section 6(e); and (iii) to such other
persons at their respective addresses as provided in the Purchase Agreement and thereafter at such other address, notice of which is given in accordance with the provisions of this Section 6(e). All such notices and communications shall be deemed to
have been duly given: at the time delivered by hand, if personally delivered; five Business Days after being deposited in the mail, postage prepaid, if mailed; when answered back, if telexed; when receipt is acknowledged, if telecopied; and on the
next Business Day if timely delivered to an air courier guaranteeing overnight delivery. Copies of all such notices, demands or other communications shall be concurrently delivered by the Person giving the same to the Trustee, at the address
specified in the Indenture. 
  
 (f) Successors and Assigns.
This Agreement shall inure to the benefit of and be binding upon the successors, assigns and transferees of each of the parties, including, without limitation and without the need for an express assignment, 

  

 20 

 
subsequent Holders; provided that nothing herein shall be deemed to permit any assignment, transfer or other disposition of Registrable Notes in
violation of the terms of the Purchase Agreement or the Indenture. If any transferee of any Holder shall acquire Registrable Notes in any manner, whether by operation of law or otherwise, such Registrable Notes shall be held subject to all the terms
of this Agreement, and by taking and holding such Registrable Notes such Person shall be conclusively deemed to have agreed to be bound by and to perform all of the terms and provisions of this Agreement and such Person shall be entitled to receive
the benefits hereof. The Initial Purchasers (in their capacity as Initial Purchasers) shall have no liability or obligation to the Company and the Guarantor with respect to any failure by a Holder to comply with, or any breach by any Holder of, any
of the obligations of such Holder under this Agreement. 
  
 (g)
Third-Party Beneficiaries. Each Holder shall be a third-party beneficiary to the agreements made hereunder between the Company and the Guarantor, on the one hand, and the Initial Purchasers, on the other hand, and shall have the right to
enforce such agreements directly to the extent it deems such enforcement necessary or advisable to protect its rights or the rights of other Holders hereunder. 
  

(h) Purchases and Sales of Notes. The Company and the Guarantor shall not, and shall use their reasonable best efforts to cause their affiliates
(as defined in Rule 405 under the Securities Act) not to, purchase and then resell or otherwise transfer any Registrable Notes. 
  
 (i) Counterparts. This Agreement may be executed in any number of counterparts and by the parties hereto in separate counterparts, each of which
when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. 
  
 (j) Jurisdiction, Venue and Service of Process. Each of the parties hereto hereby submits to the jurisdiction of any U.S. federal or New York state
court in New York City or to the courts of its own corporate domicile, in respect of actions brought against it as a defendant, in any legal suit, action or proceeding based on or arising under this Agreement and agrees that all claims in respect of
such suit or proceeding may be determined in any such court. Each of the Company and the Guarantor waives, to the extent permitted by law, the defense of an inconvenient forum or objections to personal jurisdiction with respect to the maintenance of
such legal suit, action or proceeding. Each of the Company and the Guarantor hereby designates and appoints CT Corporation System, 111 Eighth Avenue, 13th Floor, New York, New York 10011 (the “Process Agent”), as its authorized agent, upon whom process may be served in any such legal suit, action or proceeding based on or arising under
this Agreement, it being understood that the designation and appointment of CT Corporation System as such authorized agent shall become effective immediately without any further action on the part of the Company or the Guarantor. Such appointment
shall be irrevocable to the extent permitted by applicable law and subject to the appointment of a successor agent in the United States on terms substantially similar to those contained in 

  

 21 

 
this Section 6(j). If the Process Agent shall cease to act as agent for service of process, the Company and the Guarantor shall each appoint, without
unreasonable delay, another such agent, and notify the holders of such appointment. Each of the Company and the Guarantor represents to the holders that it has notified the Process Agent of such designation and appointment and that the Process Agent
has accepted the same in writing. Each of the Company and the Guarantor hereby authorizes and directs the Process Agent to accept such service. Each of the Company and the Guarantor further agrees that service of process upon the Process Agent and
written notice of said service to such party shall be deemed in every respect effective service of process upon the Company, in any such legal suit, action or proceeding. Nothing herein shall affect the right of any holder or any person controlling
any holder to serve process in any other manner permitted by law. 
  
 (k) Additional Amounts. If any amounts to be received by the Initial Purchasers or the Holders under this Agreement are subject to any present or future taxes, assessments, deductions, withholdings, governmental charges or charges of
any nature imposed or levied by or on behalf of Mexico or any political subdivision thereof or taxing authority therein (“Mexican Taxes”), then the Company and the Guarantor shall, jointly and severally, pay to the Initial
Purchasers and the Holders, an additional amount so that the Initial Purchasers and the Holders, shall retain, after taking into consideration all such Mexican Taxes, an amount equal to the amounts owed to them under this Agreement as if such
amounts had not been subject to Mexican Taxes. If any Mexican Taxes are collected by deduction or withholding, the Company and the Guarantor shall, upon request provide to the Initial Purchasers and the Holders, copies of documentation evidencing
the transmittal to the proper authorities of the amount of Mexican Taxes deducted or withheld. Notwithstanding the preceding sentences of this Section 6(k), any withholding or deduction of Mexican Taxes in respect of payments under the Notes (as
opposed to amounts to be received by the Initial Purchasers or the Holders under this Agreement) shall be subject to the gross-up provisions of the Notes and the Indenture. 
  
 (l) Judgment Currency. The Company and the Guarantor, jointly and severally, shall indemnify the Initial Purchasers
and the Holders against any loss incurred by them as a result of any judgment or order against the Company or the Guarantor being given or made and expressed and paid in a currency (“Judgment Currency”) other than U.S. dollars and
as a result of any variation as between (i) the rate of exchange at which the U.S. dollar amount is converted into the Judgment Currency for the purpose of such judgment or order and (ii) the spot rate of exchange in New York, New York at which the
Initial Purchasers on the date of payment of such judgment or order are able to purchase U.S. dollars with the amount of the Judgment Currency actually received by the Initial Purchasers. The foregoing indemnity shall constitute a separate and
independent obligation of the Company and the Guarantor and shall continue in full force and effect notwithstanding any such judgment or order as aforesaid. The term “spot rate of exchange” shall include any premiums and costs of exchange
payable in connection with the purchase of, or conversion into, U.S. dollars. 
  

 22 

 (m) Headings. The headings in this Agreement are for convenience of reference only, are not a part
of this Agreement and shall not limit or otherwise affect the meaning hereof. 
  
 (n) Severability. The remedies provided herein are cumulative and not exclusive of any remedies provided by law. If any term, provision, covenant or restriction of this Agreement is held by a court of competent
jurisdiction to be invalid, illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full force and effect and shall in no way be affected, impaired or invalidated, and the
parties hereto shall use their reasonable best efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated by such term, provision, covenant or restriction. It is hereby stipulated and
declared to be the intention of the parties that they would have executed the remaining terms, provisions, covenants and restrictions without including any of such that may be hereafter declared invalid, illegal, void or unenforceable. 

 
 (o) Governing Law. This Agreement shall be governed by and
construed in accordance with the laws of the State of New York. 
  
 (p) Miscellaneous. This Agreement contains the entire agreement between the parties relating to the subject matter hereof and supersedes all oral statements and prior writings with respect thereto. If any term, provision, covenant or
restriction contained in this Agreement is held by a court of competent jurisdiction to be invalid, void or unenforceable or against public policy, the remainder of the terms, provisions, covenants and restrictions contained herein shall remain in
full force and effect and shall in no way be affected, impaired or invalidated. The Company, the Guarantor and the Initial Purchasers shall endeavor in good faith negotiations to replace the invalid, void or unenforceable provisions with valid
provisions the economic effect of which comes as close as possible to that of the invalid, void or unenforceable provisions. 
  

 23 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

  

			
	 Very truly yours,

	
	 AMÉRICA MÓVIL, S.A. de C.V.

		
	By:	 	 /s/ Carlos J. Garcia Moreno

	 Name:
	 	 Carlos J. Garcia Moreno Elizondo

	 Title:
	 	 Attorney-in-Fact

  

			
		
	By:	 	 /s/ Alejandro Cantú Jiménez

	 Name:
	 	 Alejandro Cantú Jiménez

	 Title:
	 	 Attorney-in-Fact

  

			
	 RADIOMÓVIL DIPSA, S.A. de C.V.

		
	By:	 	 /s/ Carlos J. Garcia Moreno Elizondo

	 Name:
	 	 Carlos J. Garcia Moreno Elizondo

	 Title:
	 	 Attorney-in-Fact

  

			
		
	By:	 	 /s/ Alejandro Cantú Jiménez

	 Name:
	 	 Alejandro Cantú Jiménez

	 Title:
	 	 Attorney-in-Fact

  

			
	 J.P. MORGAN SECURITIES INC.

		
	By	 	 /s/ Wendi G. Royal

	 Name:
	 	 Wendi G. Royal

	 Title:
	 	 Vice President

  

			
	 MORGAN STANLEY & CO. INCORPORATED

		
	By	 	 /s/ Michael Fusco

	 Name:
	 	 Michael Fusco

	 Title:
	 	 Executive Director

  

 24 

 Schedule 1 
  

 25

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