# CALL INVITE # Client Call with Liberty Latin America CFO Chris Noyes

What? We will be hosting a virtual meeting for NSR clients with Liberty Latin America CFO, Chris Noyes and Head of IR, Soomit Datta on 8th September, Monday. Format will be conducted in a small group setting, with the focus on Q&A.

When? 8th September, Monday, 12pm ET / 5pm UK time

Why? We view the recently announced Puerto Rican spin-off as very positive for both the equity and non-PR debt holders. Our math suggests EFCF yield could go up to 20% by 2026 (HERE) with leverage manageable post the spin-off. In the call, we seek to better understand what the spin-off means from both a bond and equity holder perspective and address potential concerns whether the company is able to grow its cash flow meaningfully. We strongly believe the opportunity is compelling and rate the stock highly on our GEM Top Picks. We will also of course try to understand what the spin off means for investors in the Puerto Rico debt, thus investors are strongly encouraged to join us and hear from the company itself.​​​​​