On Telecom

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ON Telecom (“ON” or the “Company”) is an early stage wireless broadband internet operator in Brazil. The Company was created in 2011 through the acquisition of Sunrise Telecom, a legacy wireless Pay TV operator. Subsequently, the Company expanded its footprint by purchasing additional spectrum in contiguous areas within Sao Paulo State. In March 2013, ON launched wireless broadband internet services in the interior of Sao Paulo State using Time Division - Long Term Evolution (“TD-LTE”) technology, an advanced wireless communication technology standard.The project consists of the build out and network expansion of ON’s operations in Brazil. ON is deploying a network to provide broadband internet connectivity to underserved geographical and socioeconomic segments of the market. The Company will prioritize urban and suburban areas with poor or no fixed broadband networks in place. ON’s current licenses cover 133 cities in the interior of Sao Paulo State. The Company is exploring the acquisition of additional regional licenses.