Ardian acquires a 50% co-control stake in MXT Holdings

• Ardian enters into co-control of MXT alongside existing shareholder Mexico Infrastructure Partners (MIP), Mexico's largest energy and infrastructure asset manager.
• Multi-faceted deal marks Ardian's first direct investment in Mexico.

MEXICO CITY – July 5, 2023 – Ardian has signed an agreement to acquire a 50% co-control equity stake in MXT Holdings, a telecommunications infrastructure company based in Mexico, entering into co-control alongside existing shareholder Mexico Infrastructure Partners (MIP). The transaction marks Ardian's first direct investment in Mexico and is expected to close in the second half of 2023, subject to regulatory approvals.

"MXT is Ardian's first direct investment in Mexico, continuing our opportunistic approach in Latin America and complementing our overall Americas Strategy. Its growing economy and dynamic telecommunications market gives us confidence in our ability to deliver strong risk-adjusted returns to our investors."

Stefano Mion, Co-Head of Infrastructure Americas, Ardian

Headquartered in Mexico City, MXT develops, acquires, owns and operates neutral-host communication infrastructure as a wireless and fiber services provider across Mexico. Founded in 2015 and led since inception by Founder and Chief Executive Officer Antoine Delaprée, who continues to lead the company under the new ownership structure, MXT's portfolio comprised approximately 650 telecom towers, roughly 3,500 km of fiber optic networks, and 11 indoor distributed antenna systems as of June 2023.

Ardian's investment will support MXT's continued growth, building on its 2022 acquisition of approximately 200 towers and roughly 1,800 km of metro fiber from Telefónica, alongside further strategic acquisitions. Mexico's telecommunications sector offers significant consolidation opportunities, driven by a population of 130 million, rising mobile penetration, an expanding middle class, and nearshoring trends underpinned by Mexico's position as one of the United States' largest trading partners.

"The Mexican telecommunications sector offers notable consolidation opportunities. Coupled with a growing middle class, increasing mobile penetration, and a standout management team, MXT is poised for meaningful expansion opportunities. We are also grateful to partner with Mexico Infrastructure Partners, a prestigious asset manager with deep local business expertise and a thorough understanding of this fast-growing market. We are excited about the next chapter of growth for MXT."

Michael Obhof, Senior Managing Director, Infrastructure, Ardian

"We are glad to partner with Ardian Infrastructure, a global asset manager, widely recognized for its excellent track record. Ardian's understanding of the infrastructure sector and in particular the telecom industry, will contribute to a more ambitious business plan for MXT and bring the company to the next level of growth."

Mario Gabriel Budebo, Partner and CEO, MIP

"MXT is thrilled with Ardian's equity investment to pursue the continued growth of our digital infrastructure platform, and to drive the expansion of our footprint across Mexico at this unique time. We are grateful to have Mexico Infrastructure Partners' support since 2018, and we are delighted to partner with Ardian, to leverage its impressive track record and global expertise in telecom infrastructure to accelerate the next stage of MXT's expansion."

Antoine Delaprée, Founder and CEO, MXT Holdings