Empresa Nacional de Telecomunicaciones S.A. commenced cash tender offers to purchase up to $800,000,000 aggregate principal amount of its 4.875% Senior Notes due 2024 and its 4.750% Senior Notes due 2026. Each Tender Offer is open to all registered holders of such series of Notes. Subject to the Maximum Tender Offer Amount and the "Tender Cap", the amount of a series of Notes that is purchased in the Tender Offers on the applicable Settlement Date will be based on the acceptance priority level for such series set forth in the table below and on the cover page of the Offer to Purchase, dated August 25, 2021, subject to the proration arrangements applicable to the Tender Offers. The Tender Offers are being made upon, and are subject to, the terms and conditions set forth in the Offer to Purchase. The Tender Offers will expire at 11:59 p.m., New York City time, on September 22, 2021, unless extended by the Company or earlier terminated with respect to any Tender Offer. No tenders of Notes submitted after the Expiration Time will be valid. Holders of Notes that are validly tendered and not validly withdrawn at or prior to 5:00 p.m., New York City time, on September 8, 2021 that are accepted for purchase will receive the applicable Total Consideration, which includes an early tender premium of $30 per $1,000 principal amount of the Notes accepted for purchase. Holders of Notes that are validly tendered and not validly withdrawn following the Early Tender Deadline but at or prior to the Expiration Time that are accepted for purchase (if any) will receive only the applicable "Tender Offer Consideration," which is, for each series of Notes, the applicable Total Consideration minus the applicable Early Tender Premium. The "Total Consideration" for each series per $1,000 principal amount of Notes validly tendered and accepted for purchase by the Company pursuant to the Tender Offers will be determined in the manner described in the Offer to Purchase by reference to the applicable fixed spread specified for such series of Notes in the table above over the yield based on the bid side price of the applicable U.S. Treasury Security specified for each series of Notes in the table above, as calculated by the Dealer Managers at 10:00 a.m., New York City time, on September 9, 2021, unless extended by the Company, in accordance with standard market practice, subject to certain exceptions set forth in the Offer to Purchase. In addition to the Total Consideration or Tender Offer Consideration, as applicable, Holders of Notes accepted for purchase will receive accrued and unpaid interest, rounded to the nearest cent on the applicable series of Notes from the last interest payment date with respect to such Notes to, but not including, the applicable Settlement Date less any applicable withholding taxes. Tendered Notes may be validly withdrawn from the Tender Offers at or prior to 5:00 p.m., New York City time, on September 8, 2021, unless extended by the Company with respect to any Tender Offer. After the applicable Withdrawal Deadline, Holders who have validly tendered their Notes may not validly withdraw such Notes unless the Company is required to extend withdrawal rights under applicable law.