General Provisions Applicable to Simplified Issuers and Securities Subject to Simplified Registration — SHCP — MX

DOF: 21/01/2025

GENERAL PROVISIONS applicable to simplified issuers and securities subject to simplified registration

On the margin, a seal with the National Coat of Arms, which says: United Mexican States.- Finance.- Ministry of Finance and Public Credit.- National Banking and Securities Commission.

The National Banking and Securities Commission, with the approval of its Board of Directors and based on what is provided in articles 2, first paragraph, fractions V Bis, XII Bis and XVIII; 55 Bis, third paragraph; 70 Bis, first paragraph, fractions I and II; 75, third paragraph; 85, sixth paragraph; 86 Bis, first paragraph; 90 Bis, paragraphs second, seventh and eighth; 104, paragraphs fifth and seventh; 107, second paragraph; 108 Bis, first paragraph, fraction III; 171, first paragraph, fraction VII; 177 Ter, first paragraph, fractions I, II and IV; 244, fraction IV, in its second paragraph; 249, second paragraph; 252 Bis, third paragraph; 339, second paragraph; 343, second paragraph; 351, second paragraph and 367, first paragraph, fraction I of the Securities Market Law; 98 Bis of the Credit Institutions Law and 4, fractions V, XXXI, XXXVI and XXXVIII; 12, fractions XIV and XV; 16, first paragraph, fraction I and 19 of the National Banking and Securities Commission Law, and

CONSIDERING

That, on December 28, 2023, the Decree by which various provisions of the Securities Market Law and the Investment Funds Law are reformed, added and repealed was published in the Official Gazette of the Federation;

That, one of the main objectives of the indicated legal reform was to democratize access to financing offered by the securities market to companies - especially medium and small ones - through the incorporation of the "simplified registration of Securities" procedure, leaving under the competence of the Board of Directors of this Commission the responsibility to regulate various aspects of the same, such as the characteristics that commercial societies must meet to request, obtain and maintain the registration of their Securities in the National Securities Register, through the aforementioned procedure, as well as their obligations regarding transparency and disclosure of information to investor public; and to regulate the participation of brokerage houses and Stock Exchanges in Simplified Registration;

That, the Securities that may be subject to Simplified Registration in the National Securities Register will be shares, ordinary participation certificates representing them or Securities representative of the social capital of foreign societies; debt instruments; asset-backed Securities and structured Securities. The latter will take effect once the Board of Directors of the Commission issues the corresponding Annex within the time frame and conditions as provided for in the Second Transitional Article of these provisions;

That, Mexican and foreign societies with a minimum age of two years of operation and that obtain income as a result of their main activity at the time of obtaining their registration may acquire the status of simplified issuers. The stated age requirement will also be applicable to the settlor who contributes the assets intended to guarantee the payment of the issuance of Securities backed by such assets;

That, with the aim of enabling broad participation of companies in the Simplified Registration of Securities procedure, under the principle of differentiated regulation, three types of Simplified Issuers are established defined in relation to the instruments that can be registered, the amount of the issuance and the cumulative amount per issuer or settlor;

That, Level I Simplified Issuers may request, obtain and maintain the Simplified Registration of debt instruments, subject to a maximum amount per issuance of 75,000,000 UDIs (Seventy-five million Investment Units, "UDIs") and cumulative per fiscal year of up to 900,000,000 UDIs (Nine hundred million UDIs). Simplified Issuers at this level must have financial statements audited by an independent external auditor, consolidated from the last fiscal year in comparison with the financial statements of the previous year and internal quarterly financial statements, whose age cannot exceed the penultimate completed quarter prior to the placement date;

That, Level II Simplified Issuers may request, obtain and maintain the Simplified Registration of debt instruments or asset-backed Securities, subject to a maximum amount per issuance and cumulative per fiscal year of up to 1,250,000,000 UDIs (One billion two hundred fifty million UDIs). Simplified Issuers at this level must have financial statements audited by an independent external auditor, consolidated from the last two fiscal years and internal quarterly financial statements, whose age cannot exceed the penultimate completed quarter prior to the placement date. Furthermore, Simplified Issuers participating at this level will be required to present, to the Placement Intermediary, a report on the credit quality of the issuance, issued by a securities rating agency. In the case of asset-backed Securities, it will be necessary to present the balance sheet of the trust estate affected by the trust; the legal opinion regarding the legal validity and enforceability of the trust contract, as well as of the legal acts for the transmission of ownership or title over the goods or rights entrusted, in cases where applicable, as well as the draft base trust contract of the issuance;

That, Simplified Share Issuers may request, obtain and maintain the Simplified Registration of shares, ordinary participation certificates representing them or Securities representative of the social capital of foreign societies, subject to a maximum amount per issuance and cumulative per fiscal year of up to 1,250,000,000 UDIs (One billion two hundred fifty million UDIs). Simplified Issuers at this level must have financial statements audited by an independent external auditor, consolidated from the last two fiscal years and internal quarterly financial statements, whose age cannot exceed the penultimate completed quarter prior to the placement date. For the registration of shares, Simplified Share Issuers must adopt the modality of bursatile investment limited company, implementing at least the corporate governance elements established in the Securities Market Law. Ordinary participation certificates representing shares may represent different share series of the same Simplified Share Issuer. Foreign societies that intend to issue Securities representative of social capital must comply, at least, with the corporate governance requirements applicable to national commercial societies issuing bursatile titles;

That, Securities subject to Simplified Registration must be issued through a Public Offering, with the intervention of a brokerage house, which will act as Placement Intermediary for them. Securities issued by Simplified Share Issuers or ordinary participation certificates representing them will be traded exclusively on Stock Exchanges. Debt instruments and asset-backed Securities may be traded inside or outside Stock Exchanges and only with the intermediation of brokerage houses and credit institutions;

That, Securities subject to Simplified Registration may only be offered to institutional and qualified investors. A qualified investor shall be considered any person whose investments during the last 12 months, on average, are equivalent to at least 1,500,000 UDIs (One million five hundred thousand UDIs), or who has obtained in each of the last two years annual gross income equal to or greater than 500,000 UDIs (five hundred thousand UDIs);

That, in accordance with what is provided in article 90 Bis, first paragraph of the Securities Market Law, for purposes of the Simplified Registration of Securities, it will be necessary for the Placement Intermediary to review the information and documentation related to the Simplified Issuer and the corresponding to the Securities subject to said registration. The second paragraph of the cited legal provision states that the information and documentation subject to review must be established in the manuals of the Placement Intermediaries, in conformity with the self-regulation principle, observing what is established in the provisions that, for such purpose, the Commission issues. On its part, article 177 Ter, fraction I, of the cited Law states that brokerage houses that participate in the placements of Securities subject to Simplified Registration are obligated to review that the information and documentation referred to in article 90 Bis complies with what is established in the manuals that the brokerage houses themselves must issue, in conformity with the provisions issued by the Commission. From an harmonization of the aforementioned legal provisions, it follows that both the information and documentation relative to the Simplified Issuer and the corresponding to the Securities subject to investment must be subject to these general provisions issued by the Commission.

In this sense and considering that article 86 Bis of the Securities Market Law establishes the possibility that Simplified Registration be granted without a Public Offering intervening, Simplified Registration without a Public Offering of shares, ordinary participation certificates representing them and Securities representative of social capital of foreign societies is incorporated into these provisions as an exception to the intervention of the Placement Intermediary, in the cases where they are registered as a result of the spin-off of a Simplified Share Issuer, as well as when they are registered as a result of the merger of societies, when any of them had the status of Simplified Share Issuer until the moment of registration;

That, Placement Intermediaries that, in their case, participate in the placement of Securities subject to Simplified Registration will carry out the functions referred to in article 177 Ter of the Law, as well as those that arise from the General Provisions applicable to brokerage houses. Such Placement Intermediaries must prepare a file of the Simplified Issuer, which will contain the documentation required from the Simplified Issuer, which must be preserved for a period of five years subsequent to the date on which the Simplified Registration of the Securities is cancelled;

That, Stock Exchanges will establish in their internal regulations the additional listing and maintenance of listing requirements beyond those established by the Law and these provisions and that they consider necessary for the protection of the interests of the investor public, including without limitation, provisions regarding the characteristics of their corporate governance; minority rights; and the manner in which public acquisition offers must be carried out. Stock Exchanges must inform the Commission in the month of June of each year, the status of Simplified Issuers in relation to compliance with listing maintenance requirements, at the close of the preceding May month. Likewise, they must disseminate said information to the general public, through their internet page;

That, to comply with their periodic information and relevant events obligations, Simplified Issuers with Securities registered in the Register must provide annually to the Exchange and to the general public, no later than April 30 or, when this is an non-working day, to the next working day, the annual financial statements or their equivalents, approved by the competent instance, audited and their modifications, depending on the nature of the Simplified Issuer, accompanied by the external audit opinion and, if applicable, the annual report corresponding to the immediately preceding fiscal year. Additionally, in the case of Level II Simplified Issuers and Simplified Share Issuers or titles representing them, they must provide within the 20 following business days after the termination of each of the first quarters of the fiscal year and within the 40 following business days after the conclusion of the fourth quarter, the financial statements comparing at least the figures of the quarter in question, with the financial statements of the previous year in conformity with the applicable accounting standards;

That, Stock Exchanges must foresee in their internal regulations, the additional information that Simplified Issuers must deliver periodically and that allows investors to know the financial, economic, accounting, legal and administrative situation of the Simplified Issuer. Similarly, they will indicate the acts, facts or events that will be considered relevant events, as well as the criteria to be followed by Simplified Issuers to determine in which cases and conditions, an event assumes such character and that must be made known immediately to the investor public and to the Stock Exchange in which they are listed, and

That, in attention to article 78 of the General Law of Regulatory Improvement and with the aim of reducing the compliance cost of this Provision, this National Banking and Securities Commission will carry out the necessary actions so that Simplified Issuers are not subject to the charge for study and procedure fees for the request of registration and update of Securities that they carry out; as well as for inspection and surveillance fees, which is currently regulated for existing issuers in articles 29-A and 29-F of the Federal Law of Fees. Furthermore, this decentralized body will carry out the necessary management with the object of establishing a fee that Simplified Issuers must assume for the registration of Securities, in conformity with article 29-B of the same Law, notably lower than that established for traditional issuers; which will lead to incentivizing said Simplified Issuers to participate in the bursatile market, contributing in this way to the economic development of the country;

has resolved to issue the following:

GENERAL PROVISIONS APPLICABLE TO SIMPLIFIED ISSUERS AND SECURITIES SUBJECT TO SIMPLIFIED REGISTRATION

INDEX

Title First Preliminary Provisions Chapter First Definitions

Title Second Of Simplified Issuers and Simplified Registration Chapter First Of Simplified Issuers Chapter Second Of the participation of brokerage houses and Exchanges in Simplified Registration Chapter Third Of Simplified Registration in the Register Chapter Fourth Of the Update of Simplified Registration and the taking of note

Title Third Of the surveillance, listing requirements and maintenance and the cancellation of Securities subject to Simplified Registration and of trading systems Chapter First Of the surveillance of Simplified Issuers Chapter Second Of listing, maintenance and suspension of listing requirements in Exchanges Chapter Third Of the cancellation of Simplified Registration Chapter Fourth Of trading systems and the secondary market

Title Fourth Of the information that must be provided to the Commission, to Exchanges and to the investor public Chapter First Of the information that must be provided to the Commission and the propaganda and information directed to the investor public Chapter Second Of periodic information and relevant events

Transitional Articles

LIST OF ANNEXES

ANNEX A Instruction for the preparation of placement prospectuses of Level I Simplified Issuers

ANNEX B Instruction for the preparation of placement prospectuses and informational brochures of Level II Simplified Issuers and Simplified Share Issuers

ANNEX C Instruction for the preparation of the annual report of Level I Simplified Issuers

ANNEX D Instruction for the preparation of the annual report of Level II Simplified Issuers and Simplified Share Issuers

ANNEX E Rules of Operation, use of Electronic Keys and Passwords of the Information Transfer System on Securities "STIV"

ANNEX F Request for Simplified Registration

Title First Preliminary Provisions Chapter First Definitions

Article 1.- For purposes of these provisions and in addition to what is provided in article 2 of the Securities Market Law, singular or plural shall be understood by:

I. Update of Simplified Registration, to the modification of the Simplified Registration in the number, class, series or amount of the shares registered in the Register. In the case of debt instruments and asset-backed Securities, to the modification of the registration in the number of titles, term or rate, as well as those modifications that are agreed upon by general assembly of holders of said Securities.

II. Exchange, to the limited company that obtains concession from the Ministry of Finance and Public Credit to act as a Stock Exchange in terms of what is provided by the Law.

III. Partial dependency, to that which occurs when the fulfillment of obligations in relation to Securities subject to Simplified Registration depends at least in 20% on an entity or moral person other than the Simplified Issuer and, in the case of emissions of Securities under trusts, when it depends at least in said percentage, on the settlor, on the administrator of the trust estate or on whoever is entrusted with said functions, on the guarantor or surety or on any other third party.

IV. Simplified Share Issuer, to the Simplified Issuer that requests, obtains and maintains the Simplified Registration of Securities that are shares, ordinary participation certificates representing them or Securities representative of social capital of foreign societies, subject to a maximum amount per issuance and cumulative per fiscal year of up to 1,250,000,000 investment units.

V. Level I Simplified Issuer, to the Simplified Issuer that requests, obtains and maintains the Simplified Registration of Securities that are debt instruments, subject to a maximum amount per issuance of up to 75,000,000 investment units and up to a cumulative amount per fiscal year of 900,000,000 investment units.

VI. Level II Simplified Issuer, to the Simplified Issuer that requests, obtains and maintains the Simplified Registration of Securities that are debt instruments or asset-backed Securities, subject to a maximum amount per issuance and cumulative per fiscal year of up to 1,250,000,000 investment units.

VII. Financial Statements, to the statement of financial position, statement of comprehensive income, statement of changes in equity or capital and statement of cash flows, including the corresponding notes, of a Simplified Issuer.

VIII. Electronic Format for sending through SEDI, that which the Exchange in question makes known for the sending of information through SEDI to which these provisions refer.

IX. Placement Intermediary, to the brokerage house that signs the placement contract with the Simplified Issuer, responsible for carrying out the activities referred to in articles 177 Bis and 177 Ter of the Law.

X. Qualified Investor, to the person who maintains on average, during the

last

months,

investments

Securities

for

amount

equal

greater

than

1,500,000

investment

units

that

has

obtained

each

the

last

years,

annual

gross

income

equal

greater

than

500,000

investment

units.

XI.

Law,

the

Securities

Market

Law.

XII.

SEDI,

the

electronic

system

for

sending

and

disseminating

information

that

authorized

the

Commission

the

Stock

Exchange

question.

XIII.

STIV,

the

Securities

Information

Transfer

System,

implemented

the

Commission

for

the

sending

information,

which

access

obtained

through

the

Commission's

Internet

page

and

for

whose

use

the

provisions

Annex

these

provisions

shall

apply.

This

system

forms

part

the

Commission's

official

records.

XIV.

Structured

Securities,

the

Equity

Securities,

established

Annex

these

provisions,

issued

trusts,

financial

entities

any

other

company

that

under

applicable

laws

authorized

such

effect,

whose

performance

referenced

the

behavior

one

underlyings

and

that

comply

with

the

characteristics

and

requirements

established

the

Commission

through

the

referenced

Annex

XV.

Asset-Backed

Securities,

the

Securities

whose

source

payment

comes

from

the

resources,

returns

income

generated

set

financial

assets

that

have

determined

determinable

payment

flows

or,

any

asset

destined

ensure

the

fulfillment

the

payment

the

issuance,

which

grant

the

right

receive

cash

flows

within

determined

term

or,

its

case,

the

right

ownership

title

the

referenced

assets.

Asset-Backed

Securities

shall

not

considered

include

Structured

Securities,

representing

the

capital

investment

funds

referred

the

Investment

Funds

Law;

fiduciary

stock

certificates

for

development,

real

estate,

indexed,

energy

and

infrastructure

investment

project,

any

other

security

issued

collective

investment

mechanisms

that

have

particular

investment

strategies

and

objectives.

Second

Title

Simplified

Issuers

and

Simplified

Registration

First

Chapter

Simplified

Issuers

Article

2.-

Simplified

Issuers

may

request

the

Simplified

Registration

the

following

Securities:

Shares,

ordinary

participation

certificates

representing

them

Securities

representative

the

capital

foreign

companies;

II.

Debt

instruments;

III.

Asset-Backed

Securities;

and

IV.

Structured

Securities.

Article

3.-

The

Securities

referred

Article

these

provisions,

order

subject

Simplified

Registration,

must

placed

through

Public

Offer,

with

the

intervention

Placement

Intermediary.

exception

the

provisions

the

preceding

paragraph,

only

shares,

ordinary

participation

certificates

representing

them

and

Securities

representative

the

capital

foreign

companies

may

subject

Simplified

Registration

without

public

offer

for

this

purpose,

the

following

cases:

When

they

are

registered

result

the

spin-off

Simplified

Issuer

shares.

II.

When

they

are

registered

result

the

merger

companies,

when

any

them

had

the

status

Simplified

Issuer

until

the

moment

registration.

Article

4.-

obtain

the

Simplified

Registration

their

Securities

the

Simplified

Issuers

must

obtain

income

consequence

their

main

activity,

understood

that

inherent

the

sector

industry

which

they

belong,

and

have

minimum

age

two

years

operation,

the

time

obtaining

said

registration.

With

regard

Asset-Backed

Securities,

shall

the

settlor

who

contributes

the

assets

destined

ensure

the

fulfillment

the

payment

the

issuance

who

must

comply

with

the

requirements

referred

this

article,

that

the

trust

under

which

the

issuance

the

securities

carried

out

may

recently

created.

Article

5.-

With

regard

shares,

for

the

purposes

obtaining

the

Simplified

Registration

said

securities,

Simplified

Issuers

must

adopt

the

modality

promoter

anonymous

companies,

remaining

subject

the

provisions

Articles

19,

and

the

Law.

With

regard

ordinary

participation

certificates

representing

which

Article

fraction

these

provisions

refers,

these

must

registered

simplified

manner

the

and

may

represent

different

series

the

same

Simplified

Issuer

shares.

With

regard

Securities

representative

the

capital

foreign

companies,

such

companies

must

comply,

least,

with

the corporate governance

requirements

provided

Article

the

Law.

the

event

that

the

Simplified

Issuer

intends

distribute

dividends

kind,

must

expressly

provide

for

this

its

bylaws.

Such

dividend

kind

may

only

consist

Securities

registered

the

This

circumstance

must

clearly

stated

the

corresponding

placement

prospectus

or,

its

case,

made

known

the

investor

public

material

event.

Article

6.-

Simplified

Issuers

and,

their

case,

the

grantors

guarantors

the

trust,

administrators

the

trust

estate

anyone

entrusted

with

such

functions,

any

other

third

party

with

regard

whom

there

partial

total

Dependency,

must

have

financial

statements

prepared

accordance

with

any

the

following

standards:

International

Financial

Reporting

Standards

(IFRS

its

name

and

acronym

English)

issued

the

International

Accounting

Standards

Board

(IASB

its

name

and

acronym

English).

Financial

Information

Standards

recognized

and

issued

the

Mexican

Council

for

Financial

Reporting

Standards,

A.C.

When

comes

financial

entities,

they

must

prepared

and

audited

accordance

with

the

accounting

and

audit

standards

issued

the

competent

Mexican

authorities,

appropriate.

For

the

case

the

financial

statements

presented

unregulated

multiple-object

financial

companies

that

issue

Securities

other

than

debt

instruments,

they

must

prepared

and

audited

conformity

with

the

accounting

and

audit

criteria

applicable

regulated

multiple-object

financial

companies

referred

Article

87-D,

fraction

the

General

Law

Organizations

and

Auxiliary

Credit

Activities.

With

regard

the

financial

statements

those

Simplified

Issuers

that

are

legal

entities

whose

predominant

activity

the

granting

credit,

financial

leasing

financial

factoring,

they

must

prepared

and

audited

conformity

with

the

accounting

and

audit

criteria

applicable

regulated

multiple-object

financial

companies

referred

Article

87-D,

fraction

the

General

Law

Organizations

and

Auxiliary

Credit

Activities.

predominant

activity

understood

that

which

represents

than

70%

the

total

consolidated

assets,

liabilities

income

the

immediately

preceding

fiscal

year

Simplified

Issuer,

being

necessary

that

fiscal

years

elapse

which

the

activity

represents

less

than

50%

the

total

consolidated

assets,

liabilities

income

Simplified

Issuer,

well,

that

the

immediately

preceding

fiscal

year

that

question,

such

activity

represents

less

than

20%,

for

not

applicable

what

provided

this

paragraph.

With

regard

Simplified

Issuers

and,

their

case

settlers,

guarantors

avalists,

administrators

the

trust

estate

anyone

entrusted

with

such

functions,

any

other

third

party,

foreign

nationality,

with

regard

whom

there

partial

total

Dependency,

they

must

prepared

accordance

with

subparagraph

this

article

any

the

following

options:

Generally

Accepted

Accounting

Principles

the

United

States

America

commonly

known

"US

GAAP",

must

incorporate

the

supplementary

notes

the

corresponding

financial

statements,

explanatory

document

the

relevant

differences

between

the

accounting

standards

and

methods

used

prepare

their

Financial

Statements

and

the

standards

referred

subparagraph

this

article.

ii.

Accounting

principles

applicable

the

country

origin,

must

incorporate

the

supplementary

notes

explanatory

document

the

relevant

differences

between

the

accounting

principles

used

prepare

their

Financial

Statements

and

the

standards

referred

subparagraph

this

article,

well

reconciliation

the

most

relevant

accounts

that

allows,

appropriate,

quantify

the

differences

between

one

and

the

others.

Foreign

guarantors

shall

not

obligated

present

the

reconciliation

referred

this

numeral.

Article

7.-

Simplified

Issuers,

for

the

purposes

obtaining

the

Simplified

Registration

their

Securities,

must

have

financial

statements

audited

independent

external

auditor,

consolidated

basis

and

accordance

with

the

following:

Level

Simplified

Issuers:

the

last

fiscal

year

comparative

basis

with

the

financial

statements

the

year

and

the

internal

quarterly

financial

statements,

whose

age

may

not

exceed

the

penultimate

completed

quarter

prior

the

placement

date.

II.

Level

Simplified

Issuers

and

Simplified

Issuers

the

last

two

fiscal

years

comparative

basis

with

the

financial

statements

the

year

and

the

internal

quarterly

financial

statements,

whose

age

may

not

exceed

the

penultimate

completed

quarter

prior

the

placement

date.

Second

Chapter

the

participation

brokerage

houses

and

Stock

Exchanges

Simplified

Registration

Article

8.-

The

Placement

Intermediary

that,

its

case,

participates

the

placement

Securities

subject

Simplified

Registration,

accordance

with

the

provisions

Article

first

paragraph,

these

provisions,

shall

observe

the

provisions

Article

177

Ter

the

Law,

well

those

derived

from

the

General

Provisions

Applicable

Brokerage

Houses,

including

that

relative

Articles

and

Bis

the

referenced

provisions

with

regard

their

participation

placement

leaders

Public

Offer

Securities,

for

which

must:

Ensure

that

the

Simplified

Issuer

complies

with

the

characteristics

and

requirements

established

the

Law,

these

provisions,

the

internal

regulations

the

Stock

Exchange

where

the

listing

carried

out

and

its

internal

manuals.

II.

Review

the

placement

prospectus

drafted

the

Simplified

Issuer,

conformity

with

Articles

Bis,

and

177

Ter,

fraction

III,

relation

Article

177

Bis,

fraction

the

Law

and

with

Annex

these

provisions,

appropriate.

III.

Ensure

that

the

documentation

relative

the

Simplified

Issuer

and

that

corresponding

the

Securities

question,

complies

with

what

provided

the

Law,

these

provisions

and

its

internal

manuals.

IV.

Inform

institutional

qualified

Investors

participating

the

placement,

about

the

risks

inherent

the

Securities

question.

Article

9.-

The

Placement

Intermediary

will

draft

file

the

Simplified

Issuer,

which

will

contain

the

documentation

required

from

the

Simplified

Issuer,

which

must

kept

for

period

five

years

following

the

date

which

the

Simplified

Registration

the

Securities

cancelled.

The

Placement

Intermediary

will

establish

its

internal

manuals

the

documentation

that

shall

required

from

Simplified

Issuers

type

Security

subject

Simplified

Registration

the

and

must

disseminate

them

through

its

Internet

page.

Such

manuals

must

consider,

minimum,

that

the

following

documentation

shall

required:

With

regard

Simplified

Issuers

that

not

comply

with

the

requirements

Article

these

provisions:

Constitutive

Deed

registered

the

Public

Commerce

and

its

modifications.

II.

Draft

the

minutes

the corporate

agreement

which

the

issuance

the

Securities

and

the

request

for

their

Simplified

Registration

the

are

approved,

conformity

with

their

bylaws

the

trust

agreement,

appropriate.

This

draft

will

replaced

copy

the

final

minutes,

prior

the

granting

the

Simplified

Registration.

III.

Draft

the

title

the

Securities

registered

the

within

term

business

days

following

the

placement,

said

draft

will

replaced

copy

the

final

title

deposited

securities

deposit

institution,

accompanied

the

corresponding

certificate.

IV.

Financial

statements

accordance

with

what

provided

Article

these

provisions.

When

for

the

fulfillment

obligations

with

regard

the

Securities

there

partial

total

Dependency

one

third

parties,

the

information

referred

this

fraction

must

presented

additionally

with

regard

said

latter.

When

the

third

parties

with

regard

whom

there

partial

total

Dependency

already

have

the

status

Simplified

Issuer,

they

shall

not

obligated

present

the

referenced

information,

provided

that

these

are

date

with

the

delivery

periodic

information

referred

Article

these

provisions.

With

regard

debt

instruments

and

Asset-Backed

Securities

issued

Level

Simplified

Issuers,

report

the

credit

quality

the

issuance

issued

securities

rating

agency

must

presented,

with

issuance

date

not

greater

than

calendar

days

prior

the

placement

date,

which

brief

explanation

the

meaning

the

rating

granted

included

using

the

context

the

rating

scale

the

corresponding

securities

rating

agency

and

any

conditioning

consideration

the

same.

VI.

With

regard

foreign

Simplified

Issuers,

the

legal

opinion

referred

Article

87,

fraction

II,

the

Law,

issued

lawyer

from

the

country

origin

the

issuer

the

primary

listing

its

Securities,

that

meets

the

independence

requirements

provided

Article

the

General

Provisions

Applicable

Securities

Issuers

and

Other

Participants

the

Securities

Market.

VII.

With

regard

Asset-Backed

Securities:

The

balance

sheet

the

trust

estate

affected.

Legal

opinion

the

legal

validity

and

enforceability

the

trust

agreement,

well

the

legal

acts

for

the

transmission

ownership

title

over

the

trust

assets

rights,

cases

where

applicable.

Draft

the

base

trust

agreement

the

issuance.

VIII.

Placement

prospectus

information

brochure

drafted

accordance

with

what

provided

Annex

these

provisions,

appropriate,

must

initialled

all

pages

all

persons

established

the

internal

regulations

the

Stock

Exchange

question.

The

preliminary

placement

prospectus

information

brochure

may

omit

the

information

relative

the

definitive

price,

rate

and

amount,

well

that

which

can

only

known

until

the

day

prior

the

start

the

Public

Offer.

IX.

Placement

Contract

signed

with

the

Placement

Intermediary,

which

must

provide

for

the

obligation

the

part

the

latter

verify

that

the

participation

the

Securities

offer

limited

Institutional

Qualified

Investors.

Documentation

that

the

Stock

Exchanges

establish

their

internal

regulations

for

the

listing

the

Securities.

With

regard

Simplified

Issuers

that

comply

with

what

provided

Article

these

provisions:

its

case,

draft

the

minutes

the corporate

agreement

which

the

issuance

the

Securities

and

the

request

for

their

Simplified

Registration

the

are

approved,

conformity

with

their

bylaws

the

trust

agreement,

appropriate,

provided

that

not

already

contained

the

file

corresponding

preceding

issuance.

Once

said

agreement

adopted,

copy

the

act

which

recorded.

II.

Draft

the

title

the

Securities

registered

the

Once

the

placement

carried

out,

said

draft

will

replaced

copy

the

final

title

deposited

securities

deposit

institution,

accompanied

the

corresponding

certificate.

III.

With

regard

Asset-Backed

Securities,

legal

opinion

the

legal

validity

and

enforceability

the

trust

agreement,

well

the

legal

acts

for

the

transmission

ownership

title

over

the

trust

assets

rights,

cases

where

applicable.

IV.

Draft

the

update

the

placement

prospectus

information

brochure

and

the

documentation

that

the

Stock

Exchanges

establish

their

internal

regulations

for

the

listing

the

Securities,

exclusively

when

there

has

been

any

relevant

change

the

last

available

financial

information

the

year

which

the

issuance

takes

place

type

Security

different

from

the

one

previously

registered

simplified

manner.

the

appropriate

time,

said

final

prospectus

and

documentation

must

presented.

With

regard

debt

instruments

and

Asset-Backed

Securities

issued

Level

Simplified

Issuers,

report

the

credit

quality

the

issuance

issued

securities

rating

agency

must

presented,

with

issuance

date

not

greater

than

calendar

days

prior

the

placement

date,

which

brief

explanation

the

meaning

the

rating

granted

included

using

the

context

the

rating

scale

the

corresponding

securities

rating

agency

and

any

conditioning

consideration

the

same;

the

above

shall

applicable

only

the

case

where

the

previously

registered

Securities

did

not

give

rise

the

obligation

present

credit

rating

type

Security

different

from

the

one

previously

registered

simplified

manner.

Article

10.-

For

the

purposes

the

integration

the

file

conformity

with

Article

section

these

provisions,

Simplified

Issuers

must

comply

with

the

following

requirements:

Have

Securities

registered

simplified

manner

the

II.

Have

complied

with

the

requirements

for

delivery

periodic

information

accordance

with

what

established

these

provisions

and

the

internal

regulations

the

Stock

Exchange

where

their

Securities

are

listed;

III.

Have

not

received

from

the

Stock

Exchange

question

the

imposition

any

disciplinary

corrective

measure;

and

IV.

The

Simplified

Issuer

itself,

its

board

directors

members,

nor

its

key

executives

have

not

been

sanctioned

for

serious

violations

the

Law,

nor

considered

recidivist

offenders,

terms

what

provided

said

legal

instrument.

Article

11.-

The

Simplified

Issuer,

jointly

with

the

Placement

Intermediary,

when

this

provides

its

securities

placement

services,

will

request

the

Stock

Exchange

for

the

listing

and

the

favorable

opinion

for

the

purposes

requesting

the

Simplified

Registration,

attaching

the

following

documentation:

Written

request

signed

the

Simplified

Issuer

and

the

Placement

Intermediary.

II.

Documentation

referred

Article

these

provisions.

With

regard

Securities

subject

Simplified

Registration,

without

public

offer

for

this

purpose,

shall

the

corresponding

Stock

Exchange

who

must

draft

the

file

referred

Article

these

provisions,

excluding

the

contract

refers to fraction IX of section A of the aforementioned article, and said file must be kept for a period of five years following the date on which the Simplified Registration of the Securities is cancelled.

Article 12.- The Stock Exchange where the Securities subject to Simplified Registration are to be listed will review the information and documentation referred to in Article 11 of these General Provisions and, if applicable, issue its favorable opinion, in accordance with Article 90 Bis, fourth paragraph, of the Law. In the event that the information and documentation referred to in the preceding paragraph is incomplete or does not meet the requirements set forth in its internal regulations, the Stock Exchange shall refrain from requesting the Simplified Registration of the Securities before the Commission.

Third Chapter On Simplified Registration in the Registry

Article 13.- The Stock Exchange where the listing of the Securities is sought will jointly with the Simplified Issuer request the Commission the Simplified Registration of the Securities, properly integrated by each type of Security intended to be registered, attaching the following documentation:

I. Written request for Simplified Registration prepared in accordance with Annex F of these General Provisions.

II. Public instrument containing the power of attorney or certified copy before a public notary of the general or special power of attorney of the representative of the Stock Exchange and of the Simplified Issuer, with the registration data in the Public Registry of Commerce, as well as a certificate signed by the secretary of the board of directors, general manager or sole administrator, authenticating that the powers of the legal representatives have not been revoked, modified or limited as of the date of signing of the request. Its registration in the Public Registry of Commerce will not be necessary when it concerns foreign Simplified Issuers.

III. Favorable opinion of the Stock Exchange in accordance with what is provided in Article 12 of these General Provisions, with an age no greater than 20 business days.

Article 14.- The Commission will have a period of 2 business days counted from the next business day following receipt of the request and its annexes, in accordance with Article 13 of these General Provisions, to effectuate the Simplified Registration in the Registry.

Fourth Chapter On the Update of Simplified Registration and Taking Note

Article 15.- The Simplified Issuer, jointly with the Stock Exchange, must request the Commission the Update of the Simplified Registration in the Registry or taking note, in the cases referred to in Articles 75 and 76 of the Law. The Stock Exchange where the Securities are listed will review the documentation supporting the update or taking note of the Simplified Registration. The Stock Exchanges must establish in their manuals the procedures they will carry out to effectuate the review referred to in the preceding paragraph. The Commission will have a period of 2 business days counted from the next business day following receipt of the request to effectuate the corresponding update or taking note.

Title Three On the surveillance, listing requirements and maintenance and cancellation of Securities subject to Simplified Registration and trading systems

First Chapter On the surveillance of Simplified Issuers

Article 16.- The Stock Exchanges will review at all times that the Simplified Issuers comply with the requirements established in their internal regulations, for which they must establish procedures and controls regarding this matter, including the work of the surveillance committee referred to in Article 242 of the Law.

Second Chapter On the listing requirements, maintenance and suspension of listing in Stock Exchanges

Article 17.- The Stock Exchanges may establish in their internal regulations additional listing and maintenance of listing requirements to those established by the Law and these General Provisions and that they consider necessary for the protection of the interests of the investing public, including without limitation, provisions regarding the characteristics of their corporate governance; minority rights; and the manner in which public acquisition offers should be carried out.

The Stock Exchanges where the Securities subject to Simplified Registration have been listed must permanently verify that the Simplified Issuers comply with the requirements established in their internal regulations to maintain the listing.

The Stock Exchanges must inform the Commission in the month of June of each year of the status of the Simplified Issuers regarding compliance with the listing maintenance requirements as of the end of the previous month of May. Likewise, they must disclose such information to the general public through their internet page.

Article 18.- The Stock Exchange must immediately inform the Commission and the general public, through the means it establishes for this purpose in its internal regulations, of the suspension of the quotation of the Securities subject to Simplified Registration. Once the Stock Exchange discloses the information referred to in the preceding paragraph, securities market intermediaries and companies that administer systems to facilitate operations with Securities must refrain from channeling requests or orders aimed at carrying out operations with Securities that have been suspended.

Third Chapter On the cancellation of Simplified Registration

Article 19.- The Stock Exchange or the Simplified Issuer, with the favorable opinion of the former, as applicable, may request the Commission the cancellation of the Securities subject to Simplified Registration, accompanying the request with the documentation provided in the internal regulations of the Stock Exchange in question for the cancellation of said Securities.

In the case of debt instruments and Asset-Backed Securities, the Stock Exchange will review that the Simplified Issuer is up to date with its obligations derived from the titles or, if applicable, the agreement of the holders' assembly that determines the registry cancellation is presented. The agreement must be taken by at least the holders representing ninety-five percent of the Securities in circulation.

The Stock Exchange will review the documentation related to the cancellation of the Simplified Registration, as well as that the minimum requirements it has established in its internal regulations for the safeguarding of investors' interests have been met.

Fourth Chapter On trading systems and the secondary market

Article 20.- The offer and negotiation of Securities issued by Simplified Issuers may be carried out in accordance with the following:

I. Securities issued by Simplified Issuers of shares and Structured Securities will be negotiated exclusively in the Stock Exchanges, with the intermediation of brokerage houses, through the systems provided for in the internal regulations of the Stock Exchange in question.

II. Debt instruments and Asset-Backed Securities may be negotiated inside or outside the Stock Exchanges and only with the intermediation of brokerage houses and credit institutions. Securities market intermediaries may only offer the Intermediation service with respect to Securities subject to Simplified Registration to Institutional and Qualified Investors.

Title Four On the information that must be provided to the Commission, the Stock Exchanges and the investing public

First Chapter On the information that must be provided to the Commission and advertising and information directed to the investing public

Article 21.- Requests for Simplified Registration, Update of Simplified Registration, taking note and cancellation of Simplified Registration, and the documentation and information accompanying said requests, must be presented by the Simplified Issuer and the Stock Exchange in question, to the Commission, through the STIV, in accordance with what is provided in Annex E, observing for the preparation of the request, the form and terms established by Annex F of these General Provisions.

The requests and attached documentation will be published on the Commission's Internet page, no later than the next business day after their presentation.

Article 22.- Advertising and information directed to the investing public regarding the characteristics of the Securities of Simplified Issuers must be circumscribed to the nature and characteristics proper to the Securities in question and make reference to the prospectus, brochure or informative document.

The advertising and information referred to in this chapter must be expressed in Spanish, in a clear and truthful manner, striving for the greatest possible objectivity, in such a way that it does not induce confusion or interpretation errors that result in prejudice or deception to the investing public, nor highlight the qualities of a certain Security or entity of the securities market to the detriment of another.

In the event that the information disseminated contravenes what is stated in this article, the Stock Exchange must notify the Commission on the same day it detects such situation and order the Simplified Issuer to rectify, suspend or cancel it.

Second Chapter On periodic information and relevant events

Article 23.- Simplified Issuers with Securities registered in the Registry must provide annually to the Stock Exchange and the general public, no later than April 30 or, when this is an invalid day, on the next business day, the information indicated below:

I. Annual financial statements or their equivalents, approved by the competent body, audited with a favorable or unmodified opinion by an external auditor, depending on the nature of the Simplified Issuer.

II. Annual report corresponding to the immediate prior fiscal year, prepared in accordance with Annex C, in the case of Level I Simplified Issuers or in accordance with Annex D, in the case of Level II Simplified Issuers or Simplified Issuers of shares, both of these General Provisions.

The foregoing will not apply in the case of Short-term Securities.

Additionally, in the case of Level II Simplified Issuers and Simplified Issuers of shares, they must provide to the Stock Exchange and the general public, within the 20 business days following the termination of each of the first three quarters of the fiscal year and within the 40 business days following the conclusion of the fourth quarter, the Financial Statements comparing at least the figures of the quarter in question with those of the quarterly financial statement corresponding to the previous fiscal year in conformity with the applicable accounting standards.

In the case of Simplified Issuers that have the status of financial entities, they must publish the information referred to in the preceding paragraph, within the timeframes established for the submission of their financial information to the corresponding supervisory authority, in the general provisions issued by the competent Mexican financial authorities, according to the type of financial entity in question.

Such quarterly financial statements must attach a certificate signed by the general manager or by the secretary of the board of directors, as the case may be, and by the heads of the finance and legal areas; or their equivalents of the Simplified Issuer, in their respective competencies, in which the period to which the quarterly information corresponds is identified, with the following legend: "We, the undersigned, declare under oath that, within the scope of our respective functions, we prepared the information relative to the Simplified Issuer contained in this quarterly report, which, to our loyal knowledge and understanding, reasonably reflects its situation. We also declare that we have no knowledge of relevant information that has been omitted or falsified in this quarterly report or that the same contains information that could induce investors to error."

In the case of Asset-Backed Securities, the certificate must be signed by:

The legal representative of the trustee, with the following legend: "The undersigned declares under oath that his represented party, in its capacity as trustee, prepared the financial information relative to the trust estate, as well as the information related to the issued values and the applicable contracts, contained in this quarterly report, which, to its loyal knowledge and understanding, reasonably reflects its situation and that it ensured that during the reported period there were no relevant differences between the income of the trust attributable to the goods, rights or values entrusted and the information it received from the administrator or operator regarding the collection of said goods, rights or values. Likewise, it declares that it has no knowledge of relevant information that has been omitted or falsified in this quarterly report or that the same contains information that could induce investors to error."
The general manager or, failing that, the secretary of the board of directors, and the heads of the finance and legal areas; or their equivalents, of the administrator or operator of the goods, rights or Values entrusted, in their respective competencies, with the following legend: "We, the undersigned, declare under oath that, within the scope of our respective functions, we prepared the information relative to the collection of the goods, rights or values entrusted, or any other information of my represented party contained in this quarterly report, which, to our loyal knowledge and understanding, reasonably reflects its situation. We also declare that we have no knowledge of relevant information that has been omitted or falsified in this quarterly report or that the same contains information that could induce investors to error."

The information referred to in this article must be delivered by the Simplified Issuers to the Stock Exchange through SEDI. When for compliance with obligations regarding the Securities there is partial or total Dependence on one or more third parties, the information referred to in this article, with respect to the latter, must additionally be delivered through SEDI, except for that information referred to in fraction II of the first paragraph. When the third parties with respect to which there is partial or total Dependence already have the status of Simplified Issuer, they will not be obligated to present said information, provided that they are up to date with the delivery of periodic information referred to in Article 23 of these General Provisions.

Article 24.- The Stock Exchanges must foresee in their internal regulations the additional information that Simplified Issuers must deliver to them periodically through SEDI, and that allows investors to know the financial, economic, accounting, legal and administrative situation of the Simplified Issuer. The Stock Exchanges must always have available to the investor in question the information referred to in Articles 86 Bis and 104, sixth and seventh paragraphs, of the Law. Additionally, investors may request from the Simplified Issuers, through the Stock Exchanges, clarification or revelation of information, when they detect inconsistencies in it.

Article 25.- The Stock Exchanges will establish in their internal regulations, by way of example but not limitatively, those acts, facts or events that will be considered relevant events, as well as the criteria to be followed by Simplified Issuers to determine when an event assumes such character and that must be made known immediately to the investing public and to the Stock Exchange in question, through SEDI.

Simplified Issuers, for the purpose of determining if an event assumes the character of relevant, must consider whether the act, fact or event in question represents, if applicable, at least 5% of the assets, liabilities or total consolidated capital, or well, 3% of the total consolidated sales of the previous fiscal year of the Simplified Issuer. When such operation represents less than the percentages indicated or cannot be quantifiable in percentage terms, the Simplified Issuer must evaluate whether the act, fact or event in question constitutes or may constitute relevant information in terms of the Law.

Article 26.- The Stock Exchange must make available to the investing public, through its Internet page, the information that in terms of Articles 23, 24 and 25 of these General Provisions it receives from the Simplified Issuers through SEDI. The Stock Exchange must put in immediate form available to the investing public for consultation, in its offices and through the means it establishes in its internal regulations, that additional information it receives from the Simplified Issuers. The information that the Simplified Issuers present to the Stock Exchange and that the latter makes available to the public constitutes information disseminated directly by the Issuer, so its content will be the exclusive responsibility of this. The Stock Exchange must foresee in its internal regulations alternative mechanisms for the reception of the information that the Simplified Issuers are obligated to send through SEDI, when due to causes not imputable to them, it is not possible for them to send said information. Likewise, the Stock Exchange must have contingency plans to guarantee the dissemination of the information it receives.

Article 27.- The Electronic Formats elaborated by the Stock Exchange for the sending of information through SEDI referred to in these General Provisions, including their modifications, must be previously authorized by the Commission. In the event that the Stock Exchange intends to carry out modifications to the interconnections and links in the sending and reception of information through SEDI, it must previously give notice to the Commission. The Stock Exchange must foresee in its internal regulations the mechanisms, as well as the form and terms, in which it will make known the Electronic Formats referred to in the first paragraph of this article.

TRANSITORY PROVISIONS

FIRST.- These General Provisions will enter into force the day following their publication in the Official Journal of the Federation, with the exception of what is established in the following transitory article.

SECOND.- What is provided in fraction IV of Article 2 of these General Provisions will enter into force until the next business day following the publication in the Official Journal of the Federation of the specific requirements and characteristics, which will be established in Annex G of these General Provisions. Said Annex G must be published, with prior approval of the Board of Directors of the Commission, within a period no greater than 180 natural days, counted from the publication in the Official Journal of the Federation of the modifications to the General Provisions applicable to securities issuers and other participants in the securities market, which are issued for Trust Certificates for development.

Respectfully, Mexico City, January 9, 2025. - President of the National Banking and Securities Commission, Dr. Jesús de la Fuente Rodríguez. - Signature.

ANNEX A INSTRUCTIONS FOR THE PREPARATION OF PLACEMENT PROSPECTUSES BY LEVEL I SIMPLIFIED ISSUERS

I. GENERAL GUIDELINES

This instruction includes the information disclosure requirements to which Level I Simplified Issuers must adhere for the preparation of placement prospectuses in order to obtain Simplified Registration in the registry. In the event that certain sub-sections or chapters of this instruction are not applicable to the specific business of the Simplified Issuer, it will not be necessary to develop them; however, depending on the case, equivalent information must be provided. Likewise, if certain information required in any numeral of this instruction has been

included in another chapter of the placement prospectus, it will not be necessary to include it again, only a reference to the chapter in which it is found must be made.

The order in which the chapters of the prospectus are presented must adhere to this instruction.

In the preparation of the prospectus, clear and easy-to-understand language must always be used, avoiding the use of technical terms or complex legal formalisms that cannot be easily understood by a person who does not have specialized knowledge in the subject matter. Likewise, superlative terms and value judgments must be avoided; however, if deemed necessary, they must be adequately justified.

Simplified Issuers that intend to issue instruments with a term equal to or less than 1 year will not be obligated to present the prospectus or brochure referred to in this instruction, so it will be sufficient to reveal to the public the information indicated in the "COVER" section of this document. However, in the event that they prepare one, it must in all cases comply with the legal requirements applicable to its content.

The prospectuses or informational brochures referred to in this annex may omit the following information:

Other Securities
Distribution channels
Patents, licenses, trademarks, and other contracts
Main clients
Applicable legislation and tax situation
Human resources
Environmental performance
Financial information by business line, geographic zone, and export sales
Report on relevant credits
Critical accounting estimates, provisions, or reserves
External auditors
Articles of incorporation and other agreements

Additionally, incorporation by reference may be considered, which must be carried out in accordance with the following:

The index of the prospectus must contain all the chapters and sections required in this instruction, and when any of them has been incorporated by reference, this situation must be indicated at the bottom of each title or subtitle, indicating the source document and the date of its submission to the corresponding Stock Exchange, as well as the location where said document can be consulted publicly.

Chapters of documents that do not fully comply with the requirements contained in this instruction may not be incorporated by reference, at the discretion of the corresponding Stock Exchange.

A section titled "Recent Events" must be included, in which relevant information not revealed in the documents that have been incorporated by reference is indicated.

A) PRINCIPLE OF RELEVANCE

In addition to the information explicitly required in the various subsections contained in this instruction, all relevant Information must be provided. This principle must be followed at all times in the preparation of the prospectus when determining the depth and breadth with which the various topics established in this instruction must be developed. It will be the responsibility of the Simplified Issuer, as well as the persons who sign the document, to determine what information is relevant in the context of the particular characteristics of each Simplified Issuer. When determining what information is relevant, both quantitative and qualitative factors must be taken into account.

B) EXTERNAL INFORMATION SOURCES AND EXPERT DECLARATIONS

When a report, statistic, or other information contained in the placement prospectus has been obtained from a public information source, it must be cited, and when the information comes from an expert, a declaration must be included indicating that said information has been included with the consent of the person.

C) DESIGNATION OF CURRENCY

All figures must be expressed in the same currency as the financial statements, unless otherwise indicated in the prospectus. In the case of figures denominated in foreign currency, when the Simplified Issuer considers it appropriate to present a conversion of said figures to Mexican pesos, the exchange rate on the date of the last period presented or that which corresponds in accordance with applicable accounting regulations must be used. In any case, the exchange rate used to convert the figures to Mexican pesos must be indicated. Likewise, the date of the exchange rate(s) used must be indicated, as well as the official source and technical specifications thereof (for example, closing rate, average, etc.). Similarly, the type of conversion used must be indicated, and if the exchange rate in effect on the date of the last period presented was chosen, clarify that such conversion was made solely for the purpose of facilitating reading and understanding by investors, mentioning that these should not be interpreted as statements that the amounts in the currency used to prepare the Financial Statements actually equate to those amounts in Mexican pesos or that they can be converted to Mexican pesos according to the indicated exchange rate.

II. PLACEMENT PROSPECTUS

Below is a scheme of the minimum content of the placement prospectus:

COVER

The cover of the prospectus must contain at least the following information:

Name of the Simplified Issuer.
Board code.
Number and characteristics of the titles offered (class, series, type, if applicable, nominal value, and others that allow their full identification).
Name of the reference currency in which the simplified issuance is carried out.
Placement price.
Total amount of the offer.
Date of publication of the offer notice (which must be made at least one business day prior to the closing date of the book or auction).
Period or date of the offer.
Book or auction closing date.
Registration date at the Stock Exchange.
Settlement date.
Net proceeds that the Simplified Issuer will obtain from the placement (break down the expenses related to the offer, including, if applicable, the intermediation commission, indicating if they were covered with the Simplified Issuer's own resources, which for such purposes may make a cross-reference to the corresponding chapter).
Possible acquirers: it must be indicated that the type of investors to whom the offer is directed are Institutional Investors and Qualified Investors, clarifying that this applies in both primary and secondary markets.
Name of the Placing Intermediary.
Custodian.
If applicable, rating granted by a rating agency (a brief explanation of the meaning of such rating and any conditioning or consideration in it must be included).
Legal basis of the applicable tax regime.
If applicable, the mention of any risk associated with the operation in question, which due to its relevance should be included on the cover of the prospectus.
The mention that the securities have a Simplified Registration in the Registry and are subject to quotation or registration in the corresponding list at the Stock Exchange.
The indication that the Commission has not approved nor carried out any type of verification or check of the information presented for the Simplified Registration.
The mention that the Commission will not supervise the Simplified Issuer nor the Securities subject to the Simplified Registration.
The legend referred to in Article 86 Bis, second paragraph of the Law, which indicates that: "The Simplified Registration in the Registry does not imply certification regarding the merit of said securities or regarding the solvency, liquidity, credit quality, or future performance, by the Commission, as well as that the Simplified Issuer will not be supervised by the Commission by virtue of the aforementioned registration, even if it is subject to supervision for any other circumstance".
The legend referred to in Article 79, last paragraph of the Law, which indicates that: "By virtue of the foregoing, the content, accuracy, truthfulness, and timeliness of the information and documentation correspond to the exclusive responsibility of the persons who sign it, and does not imply certification nor any opinion or recommendation from the Commission, the Placing Intermediary, or the Stock Exchange in question, regarding the solvency, liquidity, or credit quality of the Simplified Issuer or the merit of the Securities".
Registration Number in the Registry.
Place and date of publication of the prospectus or, if applicable, the notice.
Commission office number, registration date, and the Internet pages where the prospectus can be consulted.
In the case of the preliminary document, the legend "Preliminary Prospectus" in red ink, as well as the following legend: "The information contained in this preliminary prospectus is subject to changes, reforms, additions, clarifications, or substitutions".
Term and maturity date.
If applicable, number of series into which the issuance is divided.
If applicable, corresponding issuance number.
Interest, discount, or yield rate and calculation procedure.
Interest rate applicable for the first period.
Payment periodicity of yields.
Amortization periodicity and form of the securities and, if applicable, indicate causes and treatment of early amortization.
If applicable, guarantee(s) or surety.
Issuance date.
Place and form of payment of interest or yields and principal.
Name of the common representative of the security holders.
If applicable, subordination of the securities.

The updated version of this preliminary prospectus that includes the aforementioned changes, reforms, additions, clarifications, or substitutions that may be made between the date of this document and the date on which the offer takes place, may be consulted on the electronic page on the worldwide network (Internet) of the (name of the corresponding Stock Exchange) at the following respective addresses.

In case of including the name of any other third party not foreseen in the Securities Market Law and these provisions, include what their labor and responsibilities regarding the issuance consisted of.

Any change made to this preliminary prospectus under the aforementioned terms will be made public through the (name of the corresponding SEDI) on its Internet electronic page.

INDEX

On the first page of the prospectus, an index of its content must be incorporated according to the following:

1) GENERAL INFORMATION
a) Glossary of terms and definitions b) Executive summary c) Risk factors d) Other Securities

2) THE OFFER
a) Characteristics of the offer b) Use of funds c) Distribution plan d) Expenses related to the offer e) Capital structure after the offer f) Functions of the common representative g) Name of persons with relevant participation in the offer

3) THE SIMPLIFIED ISSUER
a) History and development of the Simplified Issuer b) Business Description Main Activity Distribution Channels Patents, licenses, trademarks, and other contracts Main clients Applicable legislation and tax situation Human Resources Environmental Performance Market Information Corporate Structure Description of main assets Judicial, administrative, or arbitral proceedings

4) FINANCIAL INFORMATION
a) Selected financial information. b) Financial Information by business line, geographic zone, and export sales of the Simplified Issuer. c) Report on Relevant Credits of the Simplified Issuer d) Comments and analysis of management regarding the operating results and financial situation of the Simplified Issuer. i) Operating results. ii) Financial situation, liquidity, and capital resources. iii) Internal control. e) Critical accounting estimates, provisions, or reserves of the Simplified Issuer.

5) MANAGEMENT
a) External auditors b) Transactions with related parties and conflicts of interest c) Administrators and shareholders d) Articles of incorporation and other agreements

In the case of foreign issuers, additionally: e) Other corporate governance practices

6) GUARANTEE OR GUARANTOR INFORMATION

7) RESPONSIBLE PERSONS

8) APPENDICES
a) Financial statements and reports of the audit committee and/or corporate practices, and auditor's report, if applicable. b) Title covering the issuance of the Securities. c) If available, rating on the credit risk of the issuance, whose issuance date is not more than 90 days prior to the placement date.

CONTENT

1) GENERAL INFORMATION
a) Glossary of terms and definitions See APPENDIX C b) Executive summary See APPENDIX C c) Risk factors See APPENDIX C d) Other Securities See APPENDIX C

2) THE OFFER
a) Characteristics of the offer Data that are not known prior to the determination of the price and placement date of the Securities must be indicated, in the case of the preliminary prospectus, with a blank space.

The following information must be presented:

Type of offer.
Total amount of the issuance.
Number of Securities offered.
Placement price of the Securities, as well as a description of how it was determined.
The period for which the offer will remain valid.
The form and term to settle the Securities.
Possible acquirers: "Institutional Investors and Qualified Investors, clarifying that this applies in primary and secondary markets.
Mention of the minutes of the extraordinary general assembly of shareholders or agreement of the board of directors, regarding the approval of the issuance of the Securities, if applicable.
Descriptive and schematic explanation of the operation intended to be carried out.
If applicable, mention the credit risk rating of the issuance granted by a securities rating agency, whose issuance date is not more than 90 days prior to the placement date, including the reasons that motivated such rating, as well as any conditioning or considerations that may have been established for the rating.
Likewise, the explanation of the meaning of the granted rating must expressly mention that such rating does not constitute an investment recommendation, and that it may be subject to updates at any time, in accordance with the methodologies of said rating agency.
Mention whether it has a surety or other guarantee and the form to execute or make it effective.
In the case of securities with mortgage guarantee, the value of the assets given as guarantee must be specified, a brief description of these, and the data of the current appraisal.
Mention if the assets given as guarantee are insured and the data of the policy.
If the securities have fiduciary guarantee, an extract of the trust contract must be included, as well as the value of the assets according to the current appraisal and the data thereof, if applicable.
Bases for determining the yield and amortization table.
Amortization periodicity and form of the securities and, if applicable, indicate all causes and treatment of early amortization.
Limitations to which the Simplified Issuer will be subject during the validity of the issuance.
Reveal the terms of any clause by which the number of titles is allowed to be increased without the authorization of the holders.
Transcription of other relevant terms of the title and, if applicable, of the issuance minutes.
Identification of the source of the resources necessary to meet the payment obligations of the securities.
Legal basis of the applicable tax regime.

b) Use of funds The prospectus must show the net amount of the offer resources, detailing each of the main projects or purposes of the financing obtained, as well as the percentage allocated to each of them.

If the resources are used directly or indirectly to acquire assets other than those in the normal course of business of the Simplified Issuer, the type of assets and their cost must be described, as well as the expected benefit.

In case the assets are acquired from affiliated, associated companies, or shareholders of the Simplified Issuer or its subsidiaries, the identity of the sellers and the manner in which the cost of the transaction was determined must be revealed.

If the resources are intended to be used to finance the acquisition of other businesses, a description of the latter must be given, as well as information regarding the existence of negotiations for such acquisition.

If a significant part of the resources is used to partially or fully amortize debt, the amount, interest rate, and original maturity date of such debts must be mentioned, and in case the liabilities had been contracted the previous year, the destination given to such resources.

In the case of the preliminary prospectus, the information required in this chapter must be presented in an estimated manner.

c) Distribution plan Within this chapter, the Simplified Issuer must provide the following information:

Name of the Lead Placing Intermediary, identifying the Securities that will be offered by this under firm commitment or best efforts terms. Likewise, it must be specified if the Placing Intermediary has signed or intends to sign any sub-placement contract with other brokerage houses to form a placing syndicate. If known, the estimated percentage of titles that will be distributed by each of the members of the placing syndicate or Placing Intermediaries participating in the offer in the preliminary prospectus and the number of titles effectively distributed by each of them in the definitive prospectus.
The business relationship or any other type of relationship that exists between the Placing Intermediary participating in the offer and the Simplified Issuer must be indicated, as well as any conflict of interest derived from the participation of the Placing Intermediary in the offer.
Mention if the amount of the offer can be increased by the exercise of over-allotment granted to the Placing Intermediary.
Include the sales strategy intended to be carried out to place the Securities.
Likewise, the criteria employed for the allocation of the Securities must be explained, such as, if there is a minimum and maximum amount to be allocated per investor, allocation on a first-come-first-served basis, pro-rata allocation, etc. In case the rate or price of the Securities are to be determined according to the auction procedure, the requirements to participate in it must be revealed, the date from which bids may begin to be received, the criteria for selecting the winners, and the manner of announcing the result thereof.
The Placing Intermediary that will be in charge of concentrating the bids.
In case the Placing Intermediary(s) intend(s) to place partially or totally the Securities subject to Simplified Registration among related parties with respect to said intermediary(s), it must be indicated in the preliminary prospectus if these will participate on equal terms with the rest of the participating investors in the offer, as well as the number of titles effectively distributed among their related parties in the definitive prospectus. Otherwise, include a negative statement.
State that, as it is a Public Offer, any Institutional Investor or Qualified Investor wishing to invest in the Securities subject to the issuance will have the possibility to participate in the offer process on equal terms with the total number of investors, as well as to acquire the Securities, unless their investment regime does not allow it.

d) Expenses related to the offer Estimated figures must be revealed in the preliminary prospectus and the effective net resources of the placement in the definitive prospectus,

as well as a general description of the expenses related to the offering, broken down by each participating entity or advisor: brokerage and placement commissions, registration fees, stock exchange listing, legal advisors, and others, breaking down the latter whenever relevant to the total expenses.

e) Capital structure after the offering

The Simplified Issuer must present financial information showing its capitalization and indebtedness as of the most recent possible date (distinguishing between short-term and long-term debt; bank and exchange debt), disclosing the current situation and, if applicable, balance sheet adjustments that reflect the application of resources obtained from the issuance of the Securities to be placed with investors.

It should be noted that the information required in this chapter must be presented in estimated form in the case of the preliminary prospectus.

f) Functions of the common representative

The Simplified Issuer must relate in this section the functions of the common representative in accordance with what is established in the issuance deed or in the body of the title.

g) Names of persons with relevant participation in the offering

The Simplified Issuer must present a list of the names of the following persons:

Principal shareholders if they participate in the administration of the Simplified Issuer.
Natural and/or legal persons designated and/or with relevant participation in the advice and/or consulting regarding the offering of Securities and involved in the legal or financial evaluation of the Simplified Issuer, including any other expert hired by the Simplified Issuer to whom any statement or report of importance included in the prospectus has been attributed, or who has prepared or certified any part of it, indicating what their work and responsibilities consisted of regarding the simplified issuance.
In the event that any of the experts or advisors participating in the transaction are owners of shares of the Simplified Issuer or its subsidiaries or have a direct or indirect economic interest in the same, a description of such investment or interest must be provided.
Person in charge of investor relations.

3) THE SIMPLIFIED ISSUER

a) History and development of the Simplified Issuer

See ANNEX C, this information must cover at least the last 2 years of operation.

b) Description of the business

See ANNEX C, additionally, in the "Human Resources" section, the number of people employed in the last 2 years must be provided; if during this period this number had varied considerably, include an explanation of said variation.

4) FINANCIAL INFORMATION

See ANNEX C, additionally, selected financial information as of the last available quarter and the comparative with the same period of the previous year will be presented.

5) ADMINISTRATION

a) External auditors

See ANNEX C

b) Transactions with related parties and conflicts of interest

See ANNEX C

c) Administrators and shareholders

See ANNEX C

d) Bylaws and other agreements

See ANNEX C

Likewise, a summary of the clauses of the bylaws and trust agreements that are most important must be presented, and the manner in which holders' assemblies will be convened must be mentioned, including the conditions for participating in them.

In the case of foreign issuers, additionally:

e) Other corporate governance practices

See ANNEX C

6) GUARANTEE OR GUARANTOR INFORMATION

In the case of backed or guaranteed issuances, the following information about the guarantor or guarantor must be included at a minimum, except in the case of subsidiaries of the Simplified Issuer, in which case the amount of their total assets, book capital, sales, and operating profit must be revealed for each one, according to the latest financial statements audited by an external auditor, except when all subsidiaries have signed as guarantors.

Corporate name and trade name or, if applicable, the name of the natural person, as well as a description of the business in which they participate.
The Financial Statements.
Any other information considered relevant to evaluate the credit risk involved with the guarantor or guarantor.

7) RESPONSIBLE PERSONS

Include the name, position, and institution represented by the persons who prepared the prospectus and who must sign the document.

The general manager and the heads of the finance and legal areas, or their equivalents, of the Simplified Issuer, alongside the following legend:

" We, the undersigned, declare under oath that, within the scope of our respective functions, we prepared the information regarding the Simplified Issuer contained in this annual report, which, to the best of our knowledge and belief, reasonably reflects its situation. Likewise, we declare that we have no knowledge of relevant information that has been omitted or falsified in this annual report or that the same contains information that could mislead investors. "

The representative, agent, or attorney-in-fact of the legal person providing external audit services and by the external auditor, who may be the same person, exclusively for purposes of the information regarding the Financial Statements they audit, as well as any other financial information included in the annual report, the source of which comes from the Financial Statements audited by them, alongside the following legend:

" The undersigned declares under oath that the Financial Statements contained in this annual report for the fiscal years (include the fiscal years to which said Financial Statements refer) were audited on the date (include the date of the audit opinion for each of the Financial Statements included), in accordance with International Standards on Auditing (the specific mention of the standards used may be included). Likewise, he/she declares that he/she has read this annual report and based on his/her reading and within the scope of the audit work performed, he/she has no knowledge of relevant errors or inconsistencies in the information included and whose source comes from the audited Financial Statements mentioned in the previous paragraph, nor of information that has been omitted or falsified in this annual report or that the same contains information that could mislead investors. However, the undersigned was not hired, and did not perform additional procedures with the object of expressing an opinion regarding the other information contained in the annual report that does not come from the Financial Statements audited by him/her. "

The legal representative of the guarantor or guarantor who has general or special power of attorney sufficient to bind them, in the case of issuances that have a guarantee or backing, alongside the following legend:

" The undersigned declares under oath that his/her represented party, in its capacity as guarantor or guarantor of the issuance, prepared the information regarding the guarantor or guarantor contained in this prospectus, which, to the best of his/her knowledge and belief, reasonably reflects its economic and financial situation. "

8) APPENDICES

a) Financial statements and reports from the audit committee and/or corporate practices, and the comptroller's report, if applicable.

b) Title that covers the issuance.

c) If available, credit risk rating of the issuance, whose issuance date is not more than 90 days prior to the placement date.

ANNEX B

INSTRUCTIONS FOR THE PREPARATION OF PLACEMENT PROSPECTUSES AND INFORMATIONAL BROCHURES FOR SIMPLIFIED ISSUERS LEVEL II AND SIMPLIFIED SHARE ISSUERS

I. GENERAL GUIDELINES

This instruction includes the information disclosure requirements to which Simplified Issuers Level II and Simplified Share Issuers must adhere for the preparation of placement prospectuses and informational brochures in order to obtain Simplified Registration in the Register.

In the event that certain subsections or chapters of this instruction are not applicable to the specific business of the Simplified Issuer, it will not be necessary to develop them; however, depending on the case, equivalent information must be provided.

Likewise, if certain information required in any section of this instruction has been included in another chapter of the placement prospectus, it will not be necessary to include it again, only a reference to the chapter in which it is found must be made.

The order in which the chapters of the prospectus are presented must adhere to this instruction.

In the preparation of the prospectus, clear and easy-to-understand language must always be used, avoiding the use of technical terms or complicated legal formalisms that cannot be easily understood by a person who does not have specialized knowledge in the matter in question.

Likewise, superlative terms and value judgments must be avoided; however, if considered necessary, they must be adequately justified.

For the purposes of this instruction, the placement prospectus will also be understood as the informational brochure, unless otherwise indicated.

However, in the event that they prepare it, it must comply, in any case, with the legal requirements applicable to its content.

The prospectuses or informational brochures referred to in this annex may omit the following information:

Other Securities
Distribution channels
Patents, licenses, trademarks, and other contracts
Principal clients
Applicable legislation and tax situation
Human resources
Environmental performance
Dividends
Financial information by business line, geographic zone, and export sales
Report on relevant credits
Estimates, provisions, or critical accounting reserves
External auditors
Bylaws and other agreements

In the case of Asset-Backed Securities:

Other Securities issued by the Trust
Evolution of the trust assets, including their income
Financial Information of the Trust, (always attaching the Financial Statements).
External Auditors

Additionally, incorporation by reference may be considered, which must be carried out in accordance with the following:

The index of the prospectus must contain all the chapters and sections required in this instruction and, when any of them has been incorporated by reference, this situation must be indicated at the bottom of each title or subtitle, indicating the source document and the date of its submission to the corresponding Stock Exchange, as well as the site where said document can be consulted publicly.

Chapters of documents that do not fully comply with the requirements contained in this instruction may not be incorporated by reference, at the discretion of the corresponding Stock Exchange.

A section titled "Recent Events" must be included in which relevant information not revealed in the documents that have been incorporated by reference is indicated.

A) PRINCIPLE OF RELEVANCE

In addition to the information explicitly required in the various subsections contained in this instruction, all relevant Information must be provided.

This principle must be followed at all times in the preparation of the prospectus when determining the depth and breadth with which the various topics established in this instruction must be developed.

It will be the responsibility of the Simplified Issuer, as well as the persons who sign the document, to determine what information is relevant in the context of the particular characteristics of each Simplified Issuer.

When determining what information is relevant, both quantitative and qualitative factors must be taken into account.

B) EXTERNAL INFORMATION SOURCES AND EXPERT DECLARATIONS

C) DESIGNATION OF CURRENCY

All figures must be expressed in the same currency as the Financial Statements, unless otherwise indicated in the prospectus.

In the case of figures denominated in foreign currency, when the Simplified Issuer considers it convenient to present a conversion of said figures to Mexican pesos, the exchange rate on the date of the last period presented or that which corresponds according to the applicable accounting regulations must be used.

In any case, the exchange rate used to convert the figures to Mexican pesos must be indicated.

Likewise, the date of the exchange rate(s) used must be indicated, as well as the official source and technical specifications thereof (for example, closing exchange rate, average, etc.).

Likewise, the type of conversion used must be indicated, and in the event that the exchange rate in effect on the date of the last period presented has been opted for, clarify that said conversion was made solely for the purpose of facilitating reading and understanding for investors, mentioning that these should not be interpreted as statements that the amounts in the currency used to prepare the Financial Statements actually equate to those amounts in Mexican pesos or that they can be converted to Mexican pesos according to the indicated exchange rate.

II. INFORMATIONAL BROCHURE FOR SIMPLIFIED REGISTRATION OF SECURITIES IN THE REGISTER AND FOR LISTING ON THE STOCK EXCHANGE WITHOUT A PUBLIC OFFERING

In the case of Simplified Share Issuers that intend to list Securities on the Stock Exchange without a public offering, an informational brochure must be presented, which must contain the same information required in each of the chapters of this instruction, except for information regarding the public offering.

III. PLACEMENT PROSPECTUS

Below, a scheme of the minimum content of the placement prospectus is provided:

COVER

The cover of the prospectus must contain at a minimum the following information:

Mention of the type of public offering and type thereof (primary, secondary, national)
Name of the Simplified Issuer and, if applicable, the name of the selling shareholders or, of the trust institution and the settlor.
Board ticker symbol.
Number and characteristics of the titles being offered (class, series, type, if applicable, par value, and others that allow for full identification).
Name of the reference currency in which the issuance of Securities is carried out.
Placement price.
Total amount of the offering.
Date of publication of the offering notice (which must be carried out at least on the business day prior to the closing date of the book or auction).
Period or date of the offering.
Closing date of the book or auction.
Date of registration in the Stock Exchange.
Settlement date.
Net resource that the Simplified Issuer will obtain with the placement (break down the expenses related to the offering, including, if applicable, the brokerage commission, indicating if they were covered with resources from the Simplified Issuer itself, being able for such purposes to make a cross-reference to the corresponding chapter).
In the case of Securities auction:
Amount of bids presented
Number of bids presented
Number of bids assigned
Total demand for Securities
Minimum and maximum rate or price
Assigned rate or price.
Possible acquirers: it must be indicated that the type of investors to whom the offering is directed are "Institutional Investors and Qualified Investors".
Name of the Placing Intermediary.
Depository.
If applicable, rating granted by a rating institution (a brief explanation of the meaning of said rating and any conditioning or consideration in it must be included).
Legal basis of the applicable tax regime.
If applicable, the mention of any risk associated with the operation in question, which due to its relevance must be included on the cover of the prospectus.
The mention that the Securities have a Simplified Registration in the Register and are subject to quotation or registration in the corresponding listing on the Stock Exchange.
The indication that the Commission has not approved nor carried out any type of verification or check of the information presented for the simplified registration.
The mention that the Commission will not supervise the Simplified Issuer nor the Securities subject to the Simplified Registration.
The legend referred to in article 86 Bis, second paragraph of the Law, in which it indicates that: "The Simplified Registration in the Register does not imply certification regarding the goodness of said titles or regarding the solvency, liquidity, credit quality, or future performance, by the Commission, as well as that the simplified issuer will not be supervised by the Commission by virtue of the aforementioned registration, even if it is subject to supervision by any other circumstance."

Likewise, in terms of article 79 of the Law, it must additionally include that the content, accuracy, truthfulness, and timeliness of the information and documentation correspond to the exclusive responsibility of the persons who sign it, and does not imply certification nor opinion or recommendation of any kind from the Commission, the Placing Intermediary, or the Stock Exchange in question, regarding the solvency, liquidity, or credit quality of the issuer or the goodness of the Securities.

Number of Registration in the Register.
Place and date of publication of the prospectus or, if applicable, the notice.
Number of the Commission's letter, date of registration, and the Internet pages where the prospectus can be consulted.
In the case of the preliminary document, the legend "Preliminary Prospectus" in red ink, as well as the following:

" The information contained in this preliminary prospectus is subject to changes, reforms, additions, clarifications, or substitutions. "

The updated version of this preliminary prospectus that includes the aforementioned changes, reforms, additions, clarifications, or substitutions that may be made between the date of this document and the date on which the offering takes place, can be consulted on the electronic page on the worldwide network (Internet) of the (name of the corresponding Stock Exchange) at the following respective addresses:
Any changes made to this preliminary prospectus under the aforementioned terms, will be made known to the public through the (name of the corresponding SEDI) on its Internet electronic page.
In the event of including the denomination of any other third party not foreseen in the Securities Market Law and these provisions, include what their work and responsibilities consisted of regarding the issuance.

In the case of shares, additionally, the following must be included:

Number of shares representing the social capital of the Simplified Issuer, before and after the offering.
If applicable, number of Securities that will be allocated to over-allotment and the manner in which it should be exercised.
Percentage of social capital that the shares of the offering represent and, if applicable, percentage including over-allotment option, after the offering.
In the case of shares without voting rights, restricted voting rights, or any other mechanism through which corporate rights are limited, this situation must be revealed and reference must be made to the risk factors, where they will be described in greater detail.

In the case of titles of

debt,

additionally

must

include

the

following:

Term

and

maturity

date.

its

case,

number

series

into

which

the

issuance

divided.

its

case,

corresponding

issuance

number.

Interest

rate,

discount

rate

yield

and

calculation

method.

Interest

rate

applicable

for

the

first

period.

Frequency

yield

payments.

Frequency

and

method

amortization

the

securities

and,

its

case,

specify

causes

and

treatment

early

amortization.

its

case,

guarantee

guarantee(s).

Issuance

date.

Place

and

method

payment

interest

yields

and

principal.

Name

the

common

representative

the

security

holders.

its

case,

subordination

the

securities.

the

case

Asset-Backed

Securities,

additionally

must

include

the

following:

Term

and

maturity

date.

its

case,

number

series

into

which

the

simplified

issuance

divided.

its

case,

corresponding

simplified

issuance

number.

Number

trust

and

data

the

trust

agreement.

Name

the

trustee(s).

Name

the

settlor(s).

Name

the

beneficiary(ies).

Trusted

securities.

Characteristics

general

terms

the

securities

trusted.

Rights

conferred

the

Securities

issued

under

the

trust.

Method

amortization

the

securities

Name

the

common

representative

the

security

holders.

its

case,

appraisal

report.

INDEX

the

first

page

the

prospectus,

index

its

content

must

incorporated

according

the

following:

GENERAL

INFORMATION

Glossary

terms

and

definitions

Executive

summary

Risk

factors

Other

Securities

the

Issuer

the

Trust

THE

OFFER

Characteristics

the

offer

Destination

the

funds

Distribution

plan

Expenses

the

offer

Capital

structure

after

the

offer

Functions

the

common

representative

Name

the

persons

with

relevant

participation

the

offer

Dilution

Securities

market

information

its

case,

for

shares,

Market

Maker

THE

SIMPLIFIED

ISSUER

History

and

development

the

Simplified

issuer

Description

the

business:

Main

Activity

Distribution

Channels

Patents,

licenses,

trademarks

and

other

contracts

Main

clients

Applicable

legislation

and

tax

situation

Human

Resources

Environmental

Performance

Market

Information

Corporate

Structure

Description

the

main

assets

Judicial,

administrative,

arbitral

proceedings

the

case

shares,

additionally:

representing

capital

Dividends

THE

BURSATILIZATION

OPERATION

General

description

Trust

assets

Description

the

trusted

assets

ii)

Evolution

the

trusted

assets,

including

their

income

iii)

Contracts

and

agreements

iv)

Judicial,

administrative,

arbitral

proceedings

Future

estimates

Settlors

originators

Relevant

debtors

Administrators

the

trust

assets

those

whom

such

functions

are

entrusted

Other

third

parties

obligated

with

the

trust

the

holders

the

Securities

FINANCIAL

INFORMATION

THE

ISSUER

THE

TRUST

Selected

Financial

Information

the

Simplified

Issuer

the

Trust

Report

Relevant

Credits

the

Simplified

Issuer

Comments

and

analysis

management

operating

results

and

financial

position

the

Simplified

Issuer.

Operating

Results

Financial

position,

liquidity

and

capital

resources

Estimates,

provisions,

critical

accounting

reserves

the

Simplified

Issuer.

ADMINISTRATION

External

auditors

Transactions

with

parties

and

conflicts

interest

Administrators

and

shareholders

Bylaws

and

other

agreements

Other corporate governance

practices.

This

section

shall

apply

only

Simplified

Issuers

GUARANTEE

GUARANTOR

INFORMATION

RESPONSIBLE

PERSONS

ANNEXES

Financial

statements

and

reports

from

the

audit

committee

and/or

corporate

practices,

and

the

commissar

report,

its

case.

Legal

opinion.

Title

underlying

the

issuance

Securities.

Rating

the

credit

risk

the

issuance

the

program,

its

case,

whose

issuance

date

not

than

days

prior

the

placement

date.

Trust

agreement.

Additional

Information.

CONTENT

GENERAL

INFORMATION

Glossary

terms

and

definitions

See

ANNEX

Executive

summary

See

ANNEX

Risk

factors

See

ANNEX

Other

Securities

See

ANNEX

THE

OFFER

Characteristics

the

offer

Those

data

that

are

not

known

before

the

determination

the

price

and

the

placement

date

the

Securities,

must

indicated,

the

case

the

preliminary

prospectus,

with

blank

space.

description

the

following

information

must

presented:

Type

offer

(primary,

secondary)

Total

amount

the

issuance

Number

the

Securities

offered.

Placement

price

the

securities,

well

description

the

method

which

was

determined.

period

for

which

the

offer

will

remain

valid.

method

and

term

settle

the

Securities.

Possible

acquirers:

" Institutional

Investors

and

Qualified

Investors

clarifying

that

applies

both

primary

and

secondary

markets.

Reference

the

minutes

the

extraordinary

general

shareholders

meeting

the

board

directors

agreement,

regarding

the

approval

the

issuance

the

Securities,

its

case.

descriptive

and

schematic

explanation

the

operation

carried

out

must

presented.

the

case

shares,

additionally:

Amount

fixed

and

variable

capital,

its

case,

before

and

after

placement,

and

the

percentage

represented

the

amount

placed

the

capital,

specifying

the

date

the

general

shareholders

meeting

which

the

increase

was

decreed.

number

circulation

before

and

after

the

Public

Offer

classified

series.

Indicate

the

type

and

the

corporate

rights

they

confer

(example:

full

vote,

restricted,

right,

and

preferential).

the

case

without

voting

rights,

restricted

vote,

any

other

mechanism

through

which

corporate

rights

are

limited,

must

stated

that

the

holders

these

Securities

are

disadvantage

compared

shareholders

who

hold

with

full

voting

rights,

because

they

will

only

have

input

into

matters

submitted

the

general

shareholders

meeting

stipulated

the

bylaws

the

Simplified

Issuer

and

reference

must

made

the

risk

factors,

where

they

will

described.

Indication

the

method

which

the

will

represented

(for

example:

definitive

securities

provisional

certificates)

indicating

its

case

the

exchange

date.

Present

the

price/earnings

multiple,

price/book

value

multiple,

and

the

price/UAFIDA

multiple

(profit

before

financial

expenses,

taxes,

depreciation,

and

amortization)

the

Simplified

Issuer

before

and

after

the

offer,

well

the

multiple

the

sector

industry

belongs

and

that

the

market.

the

case

debt

securities,

additionally:

Mention

the

credit

risk

rating

the

issuance

Securities

rating

agency

whose

issuance

date

not

than

days

prior

the

placement

date,

including

the

reasons

that

motivated

such

rating,

well

any

conditions

considerations

that

may

have

been

established

for

the

rating.

Furthermore,

the

explanation

the

meaning

the

rating

granted

must

explicitly

mention

that

such

rating

does

not

constitute

investment

recommendation,

and

that

may

subject

updates

any

time,

accordance

with

the

methodologies

said

rating

agency.

Mention

whether

has

does

not

have

guarantee

other

guarantee

and

the

method

executing

making

effective.

the

case

securities

with

mortgage

guarantee,

the

value

the

assets

given

collateral

must

specified,

brief

description

these,

and

the

data

the

current

appraisal.

Mention

whether

the

assets

given

collateral

are

insured

and

the

data

the

policy.

the

securities

have

trust

guarantee,

excerpt

the

trust

agreement

must

included,

well

the

value

the

assets

according

current

appraisal

and

the

data

this,

its

case.

Basis

for

determination

yield

and

amortization

table.

Frequency

and

method

amortization

the

securities

and,

its

case,

specify

all

causes

and

treatment

early

amortization.

Limitations

which

the

Simplified

Issuer

will

subject

during

the

validity

the

simplified

issuance.

Disclose

the

terms

any

clause

through

which

the

number

securities

allowed

increased

without

the

authorization

the

holders.

Transcription

other

relevant

terms

the

title

and,

its

case,

the

issuance

minutes.

Identification

the

source

the

resources

necessary

meet

the

payment

obligations

the

securities.

Legal

basis

the

applicable

tax

regime.

Destination

the

funds

The

prospectus

must

show

the

net

amount

the

offer

resources,

detailing

each

the

main

projects

purposes

the

financing

obtained,

well

the

percentage

destined

each

them.

the

resources

are

used

directly

indirectly

acquire

assets

different

from

those

the

normal

course

business

the

Simplified

Issuer,

the

type

assets

and

their

cost

must

described,

well

the

expected

benefit.

the

case

where

the

assets

are

acquired

from

affiliated

companies,

associated

companies,

shareholders

the

Simplified

Issuer

its

subsidiaries,

the

identity

the

sellers

and

the

method

which

the

cost

the

transaction

was

determined

must

disclosed.

the

resources

are

intended

used

finance

the

acquisition

other

businesses,

description

the

latter

must

given,

well

information

the

existence

negotiations

for

such

acquisition.

significant

portion

the

resources

are

used

partially

fully

amortize

debt,

the

amount,

interest

rate,

and

original

maturity

date

such

debts

must

mentioned,

and

the

case

where

the

liabilities

had

been

contracted

the

year,

the

destination

given

such

resources.

When

the

payment

the

Asset-Backed

Securities

depends

totally

partially

the

settlor

any

third

party,

disclose

regarding

this

what

indicated

paragraphs

and

above.

the

case

the

preliminary

prospectus,

the

information

required

this

chapter

must

presented

estimated

form.

Distribution

plan

Within

this

chapter,

the

Simplified

Issuer

must

provide

the

following

information:

Name

the

Lead

Underwriter

Intermediary,

identifying

the

Securities

that

will

offered

this

under

the

terms

firm

commitment

best

efforts.

Likewise,

must

specified

whether

the

Underwriter

Intermediary

has

signed

intends

sign

any

sub-underwriting

contract

with

other

brokerage

houses

form

underwriting

syndicate.

the

case

where

known,

the

estimated

percentage

securities

that

will

distributed

each

the

members

the

underwriting

syndicate

underwriter

intermediaries

participating

the

offer

the

preliminary

prospectus

and

the

number

securities

effectively

distributed

each

them

the

final

prospectus.

business

relationship

any

other

type

relationship

existing

between

the

Underwriter

Intermediary

participating

the

offer

and

the

Simplified

Issuer

must

indicated,

well

any

conflict

interest

derived

from

the

participation

the

Underwriter

Intermediary

the

offer.

information

the

following

points

shall

applicable

the

case

and/or

debt

appropriate:

the

case

where

known

the

Simplified

Issuer

the

Underwriter

Intermediary,

must

disclosed

whether

the

main

shareholders,

executives,

board

members

intend

part

the

Securities

that

are

the

subject

the

offer

any

person

attempts

than

the

same,

individually

group.

the

final

version,

disclose

whether

the

above-mentioned

scenarios

were

indeed

realized.

Mention

whether

the

amount

the

public

offer

can

increased

the

exercise

Over-allotment

granted

the

Underwriter

Intermediary.

must

mentioned

whether

the

Underwriter

Intermediary

will

carry

out

operations

that

facilitate

the

placement

the

Securities,

such

Price

Stabilization,

which

case,

must

explained

what

such

operations

consist

of.

Likewise,

must

mentioned

how

Over-allotments

will

covered,

the

case

where

they

exist

and

the

case

where

these

are

covered

with

obtained

loan,

the

mechanism

that

will

used

for

their

return.

Include

the

sales

strategy

that

intended

carried

out

place

the

Securities

among

institutional

qualified

investors.

Likewise,

the

criteria

used

for

the

allocation

the

Securities

must

explained,

such

as,

there

minimum

and

maximum

amount

allocated

per

investor,

allocation

first-come,

first-served

basis,

pro-rata

allocation,

etc.

the

case

where

the

rate

price

the

Securities

are

determined

according

the

auction

procedure,

the

requirements

participate

the

same,

the

date

from

which

bids

may

begin

received,

the

criteria

for

selecting

the

winners,

and

the

method

announcing

the

result

the

same

must

disclosed.

Underwriter

Intermediary

that

will

responsible

for

the

concentration

bids.

the

case

where

the

Underwriter

Intermediary(s)

intend(s)

place

partially

fully

the

Securities

subject

the

simplified

issuance

among

parties

with

respect

said

intermediary(ies),

must

indicated

the

preliminary

prospectus

these

will

participate

equal

terms

the

rest

the

investors

participating

the

offer,

well

the

number

securities

effectively

distributed

among

their

parties

the

final

prospectus.

the

case

contrary,

include

statement

that

effect.

Declare

that,

the

case

Public

Offer,

any

Institutional

Qualified

Investor

who

wishes

invest

the

securities

subject

the

issuance,

will

have

the

possibility

participate

the

offer

process

equal

terms

the

entirety

the

investors,

well

acquire

the

Securities,

unless

their

investment

regime

does

not

allow

it.

Expenses

the

offer

Estimated

figures

must

disclosed

the

preliminary

prospectus

and

the

actual

net

resources

the

placement

the

final

prospectus,

well

general

description

the

expenses

the

offer,

broken

down

each

the

participating

entities

advisors:

the

commissions

for

intermediation

and

placement,

costs

Registration

the

Registry,

listing

the

Stock

Exchange,

legal

advisors,

and

others,

breaking

down

this

last

one

always

when

relevant

with

respect

the

total

the

expenses.

Capital

structure

after

the

offer

only

the

case

debt

The

Simplified

Issuer

must

present

financial

information

showing

its

capitalization

and

indebtedness

the

most

recent

date

possible

(distinguishing

between

short-term

and

long-term

debt;

banking

and

exchange

debt),

making

known

the

current

situation

and,

applicable,

the

adjustments

the

balance

sheet

that

reflect

the

application

the

resources

obtained

from

the

alienation

the

Securities

that

will

placed

among

investors.

should

noted

that

the

information

required

this

chapter

must

presented

estimated

form

the

case

the

preliminary

prospectus.

Functions

the

common

representative

The

Simplified

Issuer

must

list

this

section

the

functions

the

common

representative

concordance

with

what

established

the

issuance

minutes

the

body

the

title.

Name

the

persons

with

relevant

participation

the

offer

The

Simplified

Issuer

must

present

list

the

names

the

following

persons:

the

case

shares,

main

shareholders

these

participate

the

administration

the

Simplified

Issuer.

Natural

and/or

legal

persons

designated

and/or

with

relevant

participation

the

advisory

and/or

consulting

relation

the

offer

Securities

and

involved

the

legal

financial

evaluation

the

Simplified

Issuer,

including

any

other

expert

hired

the

Simplified

Issuer

whom

any

statement

report

importance

included

the

prospectus

has

been

attributed,

that

has

prepared

certified

any

part

the

same,

indicating

what

their

work

and

responsibilities

regarding

the

simplified

issuance

consisted

of.

the

case

where

any

the

experts

advisors

participating

the

transaction

owner

the

Simplified

Issuer

its

subsidiaries

or,

has

direct

indirect

economic

interest

the

same,

description

such

investment

interest

must

provided.

Person

charge

investor

relations.

Natural

legal

persons

involved

the

bursatilization

operation

such

the

settlor,

common

representative,

trustee,

Underwriter

Intermediary

among

others.

the

case

shares,

additionally:

Dilution

the

case

shares,

must

disclosed,

the

case

primary

offer,

the

dilutive

effect

amount

and

percentage

the

offer

the

shares,

calculated

the

difference

between

the

placement

price

and

the

book

value

per

share,

taking

reference

the

latest

Financial

Statements.

Likewise,

the

dilutive

effect

amount

and

percentage

for

shareholders

who

not

the

subject

the

offer

must

provided,

well

the

dilutive

effect

profit

and

book

value

per

due

the

new

shares.

the

other

hand,

the

Simplified

Issuer

must

include

comparison

between

the

placement

price

and

the

acquisition

cost

the

Simplified

Issuer

for

the

main

executives

and

directors

the

Simplified

Issuer

the

last

years,

when

the

same

have

not

been

acquired

the

market

offered

all

shareholders.

The

information

required

the

first

paragraph

this

subsection

must

presented

estimated

form

the

case

the

preliminary

prospectus.

Securities

market

information

the

case

where

the

Simplified

Issuer

are

listed

the

Stock

Exchange

other

markets,

the

maximum

and

minimum

price

per

series

and

the

average

volume

traded

the

Stock

Exchange

and

the

main

market

outside

Mexico,

each

the

last

years;

the

maximum

and

minimum

prices

each

semester

corresponding

the

last

fiscal

years

and

with

regard

the

last

months,

the

maximum

and

minimum

prices

each

month.

Likewise,

the

case

where

considered

relevant,

comparison

such

prices

against

the

main

indicator

the

Stock

Exchange

corresponding

must

included

via

charts.

the

case

having

had

the

services

Market

Maker

(in

accordance

with

the

definition

indicated

article

the

General

Provisions

applicable

securities

issuers

and

other

participants

the

securities

market)

the

periods

previously

mentioned,

this

situation

must

indicated

and

explained

general

terms

the

impact

the

Market

Maker's

actions

the

levels

operation

and

the

prices

the

Simplified

Issuer,

well

the

maximum

price

differentials

between

buy

and

sell

bids

said

Securities

which

the

maker

was

subject

accordance

with

what

established

the

corresponding

Stock

Exchange.

Likewise,

must

disclosed

whether

suspensions

occurred

the

trading

the

Securities

the

Simplified

Issuer

the

last

fiscal

years

and

the

time

they

lasted

and,

their

liquidity

level

the

same

period,

according

the

data

the

scale

the

corresponding.

Likewise, the Stock Exchanges and any other type of market in which the Securities are traded must be disclosed.

Finally, the approximate number of current shareholders of the shares as of the date of the last financial information must be disclosed.

j) Market Maker

In the event that services of a Market Maker have been contracted, the following information must be provided:

The name of the Market Maker.
The identification of the Securities with which the Market Maker will operate: type of security, quotation key (issuer and series), ISIN/CUSIP Code, etc.
The duration of the contract with the Market Maker.
The description of the services that the Market Maker will provide, as well as the general terms and conditions of contracting.

3) THE SIMPLIFIED ISSUER

a) History and development of the Simplified Issuer

See ANNEX D, this information must cover at least the last 2 years of operation.

In the case of Simplified Issuers of shares of investment promotion societies, information related to changes in the products and services offered may be omitted.

b) Business Description

See ANNEX D, additionally, in the "Human Resources" section, the number of people employed in the last 2 years must be provided; if the number of people has varied considerably during this period, an explanation must be included.

In the case of Simplified Issuers of shares, the following information may be omitted:

(i) Main activity: the general description of the industrial processes and in the event that the public limited investment promotion society has made public the launch of a new product that requires a considerable investment, the description of the development stage in which it is located. Likewise, the source and availability of raw materials by business line may be omitted.

Finally, the amount and percentage of revenues from products that represent 10% or more of total consolidated revenues for each of the last 2 fiscal years may not be disclosed.

(ii) Distribution channels: an explanation of any special sales method (e.g., installment sales).

(iii) Patents, licenses, trademarks and other contracts: information regarding policies related to product research and development in the last 2 fiscal years and the amount invested in these activities.

(iv) Main customers: the amount and percentage represented by sales to customers with whom there is dependency may be omitted.

(v) Applicable legislation and tax situation: information referring to the differences in the regime of organization, operation, information disclosure, and listing and maintenance requirements with respect to public limited companies listed on the stock exchange must be provided.

4) THE SECURITIZATION OPERATION

a) General Description

Descriptive and schematic explanation of the operation carried out, as well as regarding the Securities issued, including the types or categories, classes or subordination of the Securities offered.

Additionally, describe the funds that the trust will have and how payments will be allocated among them, as well as the manner in which interest and principal payments will be made.

Include the applicable interest rate and the source of resources for the payment of the corresponding interest, explaining the procedure for determining said interest rate and the person responsible for making the calculation.

Reveal any policy, restriction, or requirement regarding flows from the asset portfolio, such as maintenance of minimum cash levels, requirements for investment of surpluses, hiring of hedges, etc.

In this regard, provide information regarding the person responsible for making any decision related to the deposit, transfer, or distribution of the trust funds and the necessary authorizations, as well as whether there is any type of verification or validation by an independent third party regarding the compliance with such policies, restrictions, or requirements.

If applicable, include the report or opinion of said third party as an annex to this prospectus.

Mention whether the trust will have a technical committee, in which case, reveal the manner in which it will be integrated, indicating whether its members are independent.

In the case of titles with mortgage guarantee, the value of the assets granted as guarantee, a brief description of them, and the data of the current appraisal must be specified, as well as a summary of the most important data of the assets such as weighted average rate, number, average term, etc.

If the titles have fiduciary guarantee, a summary of the trust contract must be included.

b) Trust Assets

i) Description of the trust assets

Describe in general terms the nature and main characteristics of the assets, rights, or Securities entrusted.

Include information that allows identifying any relevant classification of said assets, rights, or Securities, such as degree of concentration, age, location, etc.

ii) Evolution of the trust assets, including their income

See ANNEX D

The information included will be as of the date of preparation of the prospectus and must cover at least 1 year of age or those available in case that a significant portion of the assets, rights, or Securities entrusted have a life less than that period.

Likewise, it must be indicated whether such information has been reviewed by any independent third party indicating the scope of its review.

Additionally, include the following:

Criteria that assets or rights must meet to be ceded to the trust.
Degree of concentration by type of asset, such as geographic zone or accredited.

iii) Contracts and agreements

A summary of the trust contract, as well as any other relevant contract for the operation, such as administration or operation, cession, among others, must be presented in a format that facilitates understanding.

In this section, the functions and responsibilities of each of the participants in the securitization operation must be clearly described, including, among others: the terms and conditions under which the administrator of the trust assets or whoever is entrusted with such functions must collect and provide to the trustee, any flow coming from the assets, rights, or Securities entrusted, as well as those related to the custody and safeguarding procedure of the documents that support the entrusted assets in question.

iv) Judicial, administrative, or arbitral proceedings

Briefly describe any pending legal proceedings against the originator, administrator of the trust assets or whoever is entrusted with such functions, trustee, as well as any other third party that is relevant to the holders of the Securities.

Include similar information for any proceeding of which there is knowledge and that may be executed by governmental authorities.

c) Future Estimates

In this section, estimates regarding the future performance of the trust assets must be included, during the term of the simplified issuance, as well as the possible payment scenarios of such assets, providing an explanation of how they were determined and the assumptions used to prepare them.

Likewise, warn about the possible risks that the estimates may not be met and clarify that they were made with the information available at the time of the simplified issuance, which may change and therefore, the actual behavior may differ, to a greater or lesser extent, from such estimates.

In the event that the trust can make additional simplified issuances under the same assets, a warning must be included regarding the risk derived from the fact that said assets may be used to liquidate all simplified issuances made.

Include estimates regarding the expected performance of the assets presented in a tabular or graphic format, in case such format helps to a better understanding.

Such information may include among other data: estimated outstanding balances of the assets, rights, or Securities for the closing of each projected period, where the periods must be of a magnitude appropriate to the term of the simplified issuance; estimated number of assets at the beginning and closing of each period and estimates regarding the income that the trust will receive in each period coming from said assets, rights, or Securities, including ordinary interest payments, delinquent interest payments, scheduled principal payments, and early principal payments; estimates regarding the number and amount of delays, early payments, and cases of default of the assets in each projected period and estimated weighted average interest rate of the portfolio.

Include also any possible relevant expected change in the composition of the asset portfolio and its reason, such as: modifications derived from revolving in the asset portfolio, substitutions or repurchases of assets.

In this regard, clearly detail the assumptions under which such relevant changes may occur.

The information referred to in this section will not be applicable, in the case of titles in which holders are not granted the right to receive the payment of capital, and in its case, interest or any other amount on the same terms as a liability and therefore not considered as a debt instrument.

d) Trustees or Originators

In this section, regarding the trustee or originator of the assets, a description, to the extent considered relevant, of their experience in securitizations, the process of origination of the assets affected in trust, as well as information regarding the performance of other Securities backed by the same type of assets including any default or delay in their payment, must be included.

e) Relevant Debtors

When the fulfillment of the obligations of the trust depends totally or partially on a single debtor or debtors, provide, regarding each debtor or debtors, the information referred to in the sections: the securitization operation, financial information and administration of ANNEX D and that is considered relevant to evaluate the credit risk of the debtor or debtors in question.

f) Administrators of the trust assets or whoever is entrusted with such functions

Include the name of the administrator of the trust assets or whoever is entrusted with such functions, rights, or Securities entrusted and a brief description of their form of organization.

Likewise, include to the extent considered relevant, the following:

Information regarding their experience as administrator of the trust assets or whoever is entrusted with such functions and the procedures they use when performing the administration or operation functions for the type of assets, rights, or Securities entrusted, such as collection systems, distribution of flows coming from the assets, subcontracting of services, systems for generating reports, among others.
Size, composition, and growth of all assets, rights, or Securities that they administer or operate, and that are similar to those that make up the trust assets.
Relevant changes in the last three fiscal years to their policies or procedures applicable to the administration or operation activities that they will perform for the type of assets, rights, or Securities entrusted.

In the event that the trust has a master administrator, include an explanation of the administration structure, as well as the functions and responsibilities of each of the participants in said structure, identifying the name and percentage of the portfolio that each of the primary administrators administers.

g) Other third parties obligated with the trust or the holders of the Securities

When there are other third parties obligated with the trust or the holders of the Securities such as guarantees, guarantors, counterparties in financial derivative or hedging operations, credit supports, among others, at least the following information must be included regarding each third party in question:

Corporate name and trade name or, in its case, name of the natural person, as well as a description of the business in which they participate.
Terms and conditions of their obligations including the manner and/or procedures to make them enforceable.
Any other information that is considered relevant to evaluate the credit risk of the third party in question.

5) FINANCIAL INFORMATION OF THE SIMPLIFIED ISSUER OR OF THE TRUST

See ANNEX D, additionally, selected financial information of the Simplified Issuer or of the Trust as of the last available quarter and the comparative with the same period of the previous year will be presented.

Likewise, in the case of Securities backed by assets, in the event that the trust has assets prior to the issuance of Securities, the information referred to in ANNEX D, subsection C), numeral 4 must be included.

6) ADMINISTRATION

a) External Auditors

See ANNEX D

In the case of Securities backed by assets, mention and describe any opinion of an independent expert that has been issued to comply with the requirements and characteristics of the operation, indicating the sense of said opinion and the period covered.

b) Transactions with related parties and conflicts of interest

See ANNEX D

c) Administrators and shareholders

See ANNEX D

d) Bylaws and other agreements

See ANNEX D

Likewise, a summary of the clauses of the bylaws and of the trust contracts that are most important must be presented and the manner in which ordinary and extraordinary general assemblies of shareholders and holders will be convened must be mentioned, including the conditions to participate in them.

In the case of Foreign Issuers:

e) Other corporate governance practices

See ANNEX D

7) GUARANTEE OR GUARANTOR INFORMATION

In the case of guaranteed or backed issuances, at least the following information of the guarantee or guarantor must be included, except in the case of subsidiaries of the Simplified Issuer, in which case, the amount of their total assets, equity capital, sales, and operating profit must be revealed for each one, according to the last financial statements audited by an external auditor, except when all subsidiaries have signed as guarantors:

Corporate name and trade name or, in its case, name of the natural person, as well as a description of the business in which they participate.
The Financial Statements.
Any other information that is considered relevant to evaluate the credit risk of the guarantee or guarantor in question.

8) RESPONSIBLE PERSONS

The prospectus must be signed by:

At least 2 delegated members of the board of directors of the Simplified Issuer, in the case of shares, prior favorable agreement of the board itself regarding the content of the prospectus, alongside the following legend:

" We, the undersigned, as special delegates of the board of directors, declare under oath that the present prospectus was reviewed by the board of directors based on the information presented to it by executives of the Simplified Issuer, and to the best of our knowledge and belief, it reasonably reflects the situation of the same, being in agreement with its content. Likewise, we declare that the board has no knowledge of relevant information that has been omitted or falsified in this prospectus or that it contains information that could induce investors to error. "

Public limited companies that have a committee that exercises functions in matters of audit under the terms of the Securities Market Law, in addition to the previous legend, a second paragraph must be incorporated, in the following terms:

" Finally, we, the undersigned, ratify the opinion rendered to the general assembly of shareholders regarding the report that the general director, under the terms of the Securities Market Law, presented to said assembly, which is included in the prospectus, and we declare that it is the same that was rendered before the general assembly of shareholders, in conformity with said legal provision. "

The commissioner, in the case of shares, with respect to the opinion referred to in article 166, fraction IV of the General Law of Commercial Societies, when it is a matter of public limited companies that, according to their legal regime, lack a committee that exercises the functions in matters of audit that render, in accordance with the Securities Market Law, the equivalent opinion, alongside the following legend:

" The undersigned ratifies the opinion that is included in the prospectus and declares under oath that it is the same that was rendered before the assembly of shareholders, in conformity with article 166 of the General Law of Commercial Societies. "

The general director, the finance director, and the legal director, or their equivalents, of the Simplified Issuer, alongside the following legend:

" We, the undersigned, declare under oath that within the scope of our respective functions, we prepared the information regarding the Simplified Issuer contained in this prospectus, which, to the best of our knowledge and belief, reasonably reflects its situation. Likewise, we declare that we have no knowledge of relevant information that has been omitted or falsified in this prospectus or that it contains information that could induce investors to error. "

The legal representative of the Placement Intermediary who has general or special power sufficient to obligate them, alongside the following legend:

" The undersigned declares under oath that their represented party, in their capacity as Placement Intermediary, has carried out the investigation, review, and analysis of the business of the Simplified Issuer, as well as participated in the definition of the terms of the public offer and that to the best of their knowledge and belief, said investigation was carried out with sufficient breadth and depth to achieve an adequate understanding of the business. Likewise, their represented party has no knowledge of relevant information that has been omitted or falsified in this prospectus or that it contains information that could induce investors to error. Likewise, their represented party agrees to concentrate their efforts in achieving the best distribution of (the corresponding Securities) subject of the public offer, with a view to achieving adequate price formation in the market and that they have informed the Simplified Issuer of the sense and scope of the responsibilities that they must assume before the investors, the competent authorities, and other participants in the securities market, as a company with securities registered in a simplified manner in the National Registry of Securities and in the Stock Exchange.

Their represented party agrees to concentrate their efforts in achieving the best distribution of (the corresponding Securities) only among institutional and qualified investors, with a view to achieving adequate price formation in the market and that they have informed the Simplified Issuer of the sense and scope of the responsibilities that they must assume before the investors, the competent authorities, and other participants in the securities market, as a Simplified Issuer with Securities registered in the National Registry of Securities and in the Stock Exchange. "

In the case of shares, the following paragraph will be added to the preceding legend:

" Their represented party has participated with the Simplified Issuer, in the definition of the price range of the shares subject of the public offer, taking into account the characteristics of the society, as well as the comparative indicators with companies of the same branch or similar, and attending to the various factors that have been judged convenient for its determination, in the understanding that the "

placement price may vary from the established range, depending on the levels of supply and demand for the shares and the conditions prevailing in the securities market on the placement date.

The representative, attorney-in-fact, or agent of the corporate entity providing external audit services and by the external auditor, who may be the same person, exclusively for purposes of the information related to each of the Financial Statements that are audited or reviewed in accordance with these provisions, as well as any other financial information included in the prospectus, whose source derives from the audited (or reviewed) Financial Statements, at the foot of the following legend:

"I hereby declare under oath that the Financial Statements contained in this prospectus for the years (include the years to which said Financial Statements refer) were audited (it may be clarified that they were reviewed) dated (include the date of the audit or review of each of the Financial Statements included), in accordance with International Standards on Auditing (it may include the specific mention of the standards used). Likewise, I declare that I have read this prospectus and based on my reading and within the scope of the audit work performed, I am not aware of any material errors or inconsistencies in the information included and whose source derives from the audited (or reviewed) Financial Statements indicated in the previous paragraph, nor of information that has been omitted or falsified in this prospectus, or that the same contains information that could mislead investors. However, I was not hired, and did not perform additional procedures for the purpose of expressing an opinion regarding the remaining information contained in the prospectus that does not derive from the audited (or reviewed) Financial Statements."

The above legend must be signed by the representative, attorney-in-fact, or agent of the corporate entity providing external audit services and by the external auditor, who may be the same person, of the settlor, of the administrator of the trust estate, of the guarantor, of the surety, or of any other third party, regarding whom Financial Statements are included within the prospectus.

The lawyer, exclusively for purposes of the legal opinion, as well as for the legal information that was reviewed by him/her and incorporated into the prospectus, at the foot of the following legend:

"I hereby declare under oath that to the best of my knowledge and belief, the issuance and placement of the Securities complies with the laws and other applicable legal provisions. Likewise, I declare that I am not aware of any relevant legal information that has been omitted or falsified in this prospectus or that the same contains information that could mislead investors."

The legal representative of the surety or guarantor who holds a general or special power of attorney sufficient to bind them, in the case of issuances that have a surety or guarantee, at the foot of the following legend:

"I hereby declare under oath that my represented party, in its capacity as surety or guarantor of the issuance, prepared the information regarding the surety or guarantor contained in this prospectus, which, to the best of my knowledge and belief, reasonably reflects its economic and financial situation."

In its case, the legal representative of the trustee, at the foot of the following legend:

"I hereby declare under oath that my represented party, in its capacity as trustee, prepared the information regarding the trust agreement contained in this prospectus, which, to the best of my knowledge and belief, reasonably reflects the terms and conditions agreed upon. Likewise, I declare that, within the scope of the activities for which my represented party was hired, it is not aware of any relevant information that has been omitted or falsified in this prospectus or that the same contains information that could mislead investors."

In its case, the general manager, the finance director, and the legal director, or their equivalents, of the settlor or of whoever contributes the assets to the trust, at the foot of the following legend:

"We hereby declare under oath that, within the scope of our respective functions, we prepared the information regarding the assets, rights, or Trusted Securities in its case, as well as the financial information of the settlor or of whoever contributes the assets, rights, or Securities to the trust contained in this prospectus, which, to the best of our knowledge and belief, reasonably reflects their situation. Likewise, we declare that we are not aware of any relevant information that has been omitted or falsified in this prospectus or that the same contains information that could mislead investors."

In the case of Asset-Backed Securities, the legal representative of the common representative, at the foot of the following legend:

"I hereby declare under oath that my represented party, in its capacity as common representative, reviewed the financial information regarding the trust estate (if any), as well as that related to the issued Securities, the applicable contracts, and the collection of the assets, rights, or Trusted Securities (if applicable), as well as that regarding the guarantee, regarding which it has verified its constitution and existence (if applicable) contained in this prospectus, which, to the best of my knowledge and belief, reasonably reflects its situation.

In its case, the legal representative with general powers to perform acts of administration of the corporate entity that structured the issuance or any other third party that participates in the determination of the terms and conditions of the Securities, distinct from the persons mentioned in items 1 to 10 above, at the foot of the following legend:

"I hereby declare under oath that my represented party, in its capacity as arranger, has carried out the investigation, review, and analysis of the business of the Simplified Issuer or the trust estate, as well as has participated in the definition of the terms, conditions, or structure of the Securities. Likewise, my represented party is not aware of any relevant information that has been omitted or falsified in this prospectus or that the same contains information that could mislead investors."

9) ANNEXES
a) Financial statements and reports of the audit committee and/or corporate governance practices, and report of the commissioner, if applicable. b) Title that covers the issuance of Securities. c) Credit risk rating of the issuance or program, if applicable, whose issuance date is not more than 90 days prior to the placement date. d) Trust agreement e) Additional information in the case of Asset-Backed Securities. In its case, the report or opinion of the independent third party that would have performed any type of verification or validation regarding compliance with policies, restrictions, or requirements regarding flows originating from the asset portfolio, as well as regarding the reasonableness and reliability of the evolution of the assets, rights, or Trusted Securities included within this document. Likewise, any other contract relevant for the operation of Asset-Backed Securities that by its nature proves relevant.

ANNEX C Instruction for the preparation of the Annual Report of Simplified Issuers Level I

This instruction includes the annual information disclosure requirements to which Simplified Issuers must adhere to maintain their Registration in the Register. Simplified Issuers that have only obtained Simplified Registration of debt instruments with a term of less than or equal to one year will not have the obligation to present this report. If certain requirements are not applicable to the specific business of the Simplified Issuer, it will not be necessary to present information on that particular requirement; however, depending on the case, equivalent information must be provided. Likewise, if certain information required in any item of this instruction has been included in another chapter of the annual report, it will not be necessary to include it again, only a reference to the chapter where it is found must be made.

In the preparation of the annual report, clear language and easy comprehension must always be used, avoiding technical terms or complicated legal formalisms that cannot be easily understood by a person who does not have specialized knowledge in the subject matter. Likewise, superlative terms and value judgments must be avoided; however, if deemed necessary, they must be adequately justified.

The annual reports referred to in this annex may omit the following information:

Other Securities
Distribution channels
Patents, licenses, trademarks, and other contracts
Main customers
Applicable legislation and tax situation
Human resources
Environmental performance
Financial information by business line, geographic zone, and export sales
Relevant credit report
Critical accounting estimates, provisions, or reserves
External auditors
Bylaws and other agreements

A) RELEVANCE PRINCIPLE In addition to the information explicitly required in the various subsections contained in this instruction, all relevant information must be provided. This principle must be followed at all times in the preparation of the Annual Report when determining the depth and breadth with which the various topics established in this instruction must be developed. It is the responsibility of the Simplified Issuer, as well as of the persons who sign the document, to determine what information is relevant in the context of the particular characteristics of each Simplified Issuer. When determining what information is relevant, both quantitative and qualitative factors must be taken into account. The annual report must include the information known as of the date closest possible to its submission, except in cases where a specific date or period is specified. The Exchanges may require the inclusion of information in addition to or substitution of the information required in this instruction when the disclosure thereof to investors is considered necessary.

B) EXTERNAL INFORMATION SOURCES AND EXPERT DECLARATIONS When a report, statistic, or other information contained in the annual report has been obtained from a public information source, it must be cited, and when the information comes from an expert, a declaration must be included indicating that said information has been included with the consent of the person.

C) DENOMINATION OF CURRENCY All figures presented must be expressed in the same currency as the Financial Statements, unless otherwise indicated in the annual report. In the case of figures denominated in foreign currency, when the Simplified Issuer considers it appropriate to present a conversion of said figures to Mexican pesos, the exchange rate on the date of the last period presented or that corresponding according to the applicable accounting regulations must be used. In any case, the exchange rate used to convert the figures to Mexican pesos must be indicated. Likewise, the date of the exchange rate(s) used, as well as the official source and technical specifications thereof (for example, closing rate, average, etc.) must be indicated. Likewise, the type of conversion used must be indicated, and in case the current exchange rate of the date of the last period presented was chosen, clarify that such conversion was made solely for the purpose of facilitating reading and understanding for investors, mentioning that these should not be interpreted as declarations that the amounts in the currency used to prepare the Financial Statements really equate to those amounts in Mexican pesos or that they can be converted to Mexican pesos according to the indicated exchange rate.

INFORMATION REQUIRED IN THE ANNUAL REPORT A) COVER PAGE OF THE ANNUAL REPORT

The cover page of the annual report must contain the following information:
Logo of the Simplified Issuer.
Name of the Simplified Issuer.
Address of the Simplified Issuer.
Specification of the characteristics of the titles in circulation (class, series, type, the name of the Exchanges where they are registered, etc.).
Quotation key.
The mention that the Securities of the Simplified Issuer are registered in the Register.
The legend referenced in article 86 Bis, second paragraph of the Law, which indicates that: "The Simplified Registration in the Register does not imply certification regarding the merit of said titles or regarding the solvency, liquidity, credit quality, or future performance, by the Commission, as well as that the simplified issuer will not be supervised by the Commission by virtue of the aforementioned registration, even if it is subject to supervision by any other circumstance." .
The legend referenced in article 79, last paragraph of the Law, which indicates that: "By virtue of the foregoing, the content, accuracy, truthfulness, and timeliness of the information and documentation correspond to the exclusive responsibility of the persons who sign them, and does not imply certification nor opinion or recommendation of any kind from the Commission, the Placement Intermediary, or the Exchange in question, regarding the solvency, liquidity, or credit quality of the issuer or the merit of the Securities." .
The mention that the Commission will not supervise the Simplified Issuer nor the Securities subject to the Simplified Registration.
The legend "Annual Report presented in accordance with the General Provisions Applicable to Simplified Issuers and Securities Subject to Simplified Registration" and what period is being presented (e.g.: year ended December 31, 2024).
Number of series in which the issuance is divided, if applicable.
Issue date.
Maturity date.
Term of the issuance.
Interest and calculation procedure.
Frequency of interest payments.
Place and form of payment of interest and principal.
Subordination of the titles, if applicable.
Amortization and early amortization, if applicable.
Guarantee, if applicable.
In case of having it, rating granted by a rating agency (the meaning given by the rating must be included).
Common representative.
Custodian.
Fiscal regime.
The policy that the Simplified Issuer will follow in decision-making regarding changes in control during the validity of the issuance, considering the participation of holders, if applicable.
The policy that the Simplified Issuer will follow in decision-making regarding corporate restructurings, including acquisitions, mergers, and spin-offs during the validity of the issuance, considering the participation of holders, if applicable.
The policy that the Simplified Issuer will follow in decision-making regarding sale or constitution of liens on essential assets, specifying what this concept will include during the validity of the issuance, considering the participation of holders, if applicable.

B) INDEX On the first page of the annual report, an index of its content must be incorporated, according to the following:

1) GENERAL INFORMATION
a) Glossary of terms and definitions. b) Executive summary. c) Risk factors. d) Other Securities. e) Significant changes to the rights of Securities registered in the Register. f) Use of proceeds, if applicable. g) Public documents.

2) THE SIMPLIFIED ISSUER
a) History and development of the issuer. b) Business description. i) Main activity. ii) Distribution channels. iii) Patents, licenses, trademarks, and other contracts. iv) Main customers. v) Applicable legislation and tax situation. vi) Human resources. vii) Environmental performance. viii) Market information. ix) Corporate structure. x) Description of its main assets. xi) Judicial, administrative, or arbitral proceedings.

3) FINANCIAL INFORMATION
a) Selected financial information. b) Financial information by business line, geographic zone, and export sales c) Relevant credit report d) Management's comments and analysis on the operating results and financial situation of the Simplified Issuer. i) Operating results. ii) Financial situation, liquidity, and capital resources. iii) Internal control. e) Critical accounting estimates, provisions, or reserves.

4) ADMINISTRATION
a) External auditors. b) Transactions with related parties and conflicts of interest. c) Administrators and shareholders. d) Bylaws and other agreements. In the case of foreign issuers, additionally: e) Other corporate governance practices.

5) SURETY OR GUARANTEE INFORMATION

6) RESPONSIBLE PERSONS

7) ANNEXES

C) INFORMATION THAT THE CHAPTERS OF THE ANNUAL REPORT MUST CONTAIN

1) GENERAL INFORMATION
a) Glossary of terms and definitions If deemed appropriate, a glossary of terms and definitions should be included.

b) Executive summary An executive summary regarding the Simplified Issuer, its financial situation (including a summary of the financial information), and the behavior of its titles in the securities market must be presented.

c) Risk factors The Simplified Issuer must explain the factors that may significantly affect the performance and profitability of the company, as well as those capable of influencing the price of its Securities. It is recommended that they be ordered based on the importance they represent for the Simplified Issuer. Likewise, the Simplified Issuer must not present risk factors that could apply to any Simplified Issuer or to any offering. In this sense, the information provided must refer to factors such as the following: risks of the current strategy, situations relative to the countries in which it operates, absence of profitable operations in recent periods, financial position of the Simplified Issuer, dependence or expiration of patents, registered trademarks, or contracts, acquisition of assets other than those in the normal course of business of the Simplified Issuer, expiration of supply contracts, defaults on the payment of bank and stock exchange liabilities or restructurings thereof, possible entry of new competitors, possible over-demand or oversupply in the market or markets where the issuer participates, vulnerability of the Simplified Issuer to changes in interest rates or exchange rates, use of different financial reporting standards than those required by these provisions, off-balance sheet transactions, dependence on key personnel (administrators), dependence on a single business segment, impact of changes in government regulations, possible volatility in the price of shares, possible non-compliance with listing maintenance requirements and/or Simplified Registration in the Register, absence of a market for the registered Securities, environmental issues related to its assets, inputs, products, or services, impact of changes in regulation and international agreements on environmental matters, existence of credits that oblige the Simplified Issuer to maintain certain proportions in its financial structure, etc. The information appearing in this section is presented by way of example, and is in no way limiting. The objective of this section is to summarize important factors that may be exposed in greater detail elsewhere in the annual report.

d) Other Securities The Simplified Issuer

simplified

shall

reveal

has

does

not

have

other

Securities

registered

the

Registry

listed

other

markets,

well

the

type

public

reports

sends

the

regulatory

authorities

and

the

corresponding

Stock

Exchanges,

periodic

and

continuous

basis.

the

same

way,

the

periodicity

with

which

the

aforementioned

information

delivered

the

regulatory

authority

the

Stock

Exchanges

where

the

Securities

trade

shall

mentioned,

well

the

reported

periods

(for

example,

current

quarter

versus

quarter,

current

quarter

versus

the

same

quarter

the

year,

etc.).

Likewise,

shall

inform

whether

has

delivered

complete

and

timely

manner

the

last

fiscal

years

the

reports

that

Mexican

and

foreign

legislation

require

them

submit

regarding

material

events

and

periodic

information.

Changes

the

Rights

Securities

Registered

the

Registry

The

general

effect

any

modification

that

has

been

made

the

rights

any

class

Security

that

the

Simplified

Issuer

has

registered

the

Registry

shall

described,

including

that

derived

from

the

issuance

modification

any

other

class

Securities.

the

event

that

any

asset

that

has

been

used

guarantee

the

issuance

any

Security

registered

the

Registry

has

been

withdrawn,

substituted,

replaced,

the

following

information

shall

provided:

Name

the

simplified

issuance.

Brief

description

the

withdrawn,

substituted,

replaced

assets.

Indicate

the

clause

the

issuance

indenture

that

permits

the

modification,

substitution,

replacement.

Destination

the

Funds,

where

applicable

the

first

annual

report

presented

after

the

Simplified

Registration

the

Securities

the

Simplified

Issuer

the

Registry,

the

application

that

has

been

made

that

point

the

resources

derived

from

the

Public

Offering

shall

provided.

the

event

that

resources

remain

applied,

these

shall

detailed

the

subsequent

annual

reports,

until

the

entirety

the

resources

are

applied.

the

event

that

the

destination

the

funds

has

varied

from

that

specified

the

placement

prospectus,

explanation

regarding

this

shall

provided.

Public

Documents

The

Simplified

Issuer

shall

mention

whether

copies

this

document

will

granted

the

investor's

request,

providing

the

name,

address,

and

telephone

number

the

person

whom

investors

should

direct

their

requests.

shall

also

indicate

the

public

information

that

was

delivered

the

Stock

Exchanges

and

that

available

investors,

well

the

name,

telephone,

and

electronic

mail

the

person

responsible

the

Simplified

Issuer

charge

investor

and

analyst

relations.

Where

applicable,

the

necessary

information

for

accessing

the

Internet

page

the

Simplified

Issuer

shall

provided.

THE

SIMPLIFIED

ISSUER

History

and

development

the

Simplified

Issuer

this

chapter,

the

following

information

shall

provided:

Corporate

name

and

trade

name

the

Simplified

Issuer.

Date,

place

incorporation,

and

duration

the

Simplified

Issuer.

Address

and

telephone

numbers

its

main

offices.

Description

the

evolution

that

the

Simplified

Issuer

and

its

subsidiaries,

any,

have

undergone,

emphasizing

particular

the

events

the

last

year,

providing

information

such

the

general

business

strategy

that

has

been

followed,

most

important

historical

events

such

mergers,

acquisitions,

asset

sales,

changes

the

way

the

business

managed,

changes

the

products

and

services

offered,

changes

the

corporate

name,

commercial

bankruptcy

insolvency,

judicial,

administrative,

arbitral

proceedings

that

have

had

any

significant

effect

the

financial

situation

the

Simplified

Issuer,

effect

laws

and

governmental

dispositions

the

development

the

business,

and

events

similar

nature.

Schematic

and

numerical

description

the

main

investments

that

have

been

made,

including

participations

other

companies

for

the

last

fiscal

years.

Indicate

any

offer

that

made

public

take

control

the

Simplified

Issuer,

made

the

Simplified

Issuer

take

control

other

companies,

during

the

last

fiscal

year.

The

price

and

conditions

the

offer

shall

established,

well

the

final

result.

Description

the

Business

The

business

which

the

Simplified

Issuer

participates

shall

described,

well

the

business

strategies

has

followed.

When

describing

the

business,

the

following

topics

shall

included

the

extent

considered

relevant

for

its

understanding.

Main

Activity

description

the

main

activities

the

Simplified

Issuer

shall

included,

showing

the

diverse

Categories

similar

products

services,

individual

products

that

represent

10%

the

consolidated

total

revenues

the

Simplified

Issuer

must

presented,

for

each

the

last

fiscal

years,

indicating

the

amount

and

percentage

such

revenues.

Finally,

description

the

risks

effects

that

climate

change

could

have

the

business

the

Simplified

Issuer

must

included,

such

as:

decrease

demand

associated

with

products

that

require

significant

greenhouse gas

emissions,

the

increase

demand

for

other

products

that

require

lower

emissions,

among

others.

Likewise,

the

current

potential

indirect

consequences

market

trends

that

the

Simplified

Issuer

may

face

derived

from

climate

change

must

revealed.

ii)

Distribution

Channels

description

the

distribution

and

marketing

channels

the

Simplified

Issuer,

including

explanation

any

special

sales

method

(e.g.

installment

sales).

iii)

Patents,

licenses,

trademarks

and

other

contracts

Information

about

patents,

licenses,

trademarks,

franchises,

industrial

commercial

contracts

financial

service

contracts

and

other

rights

owned

the

Simplified

Issuer

that

are

considered

important

must

provided,

mentioning

their

duration

and

why

they

are

important

for

the

development

the

Simplified

Issuer.

Information

about

all

those

that

are

about

expire

and

about

the

policies

regarding

product

research

and

development

the

last

fiscal

years

must

also

provided,

identifying

when

relevant,

the

amount

invested

these

activities.

Likewise,

summary

the

relevant

contracts,

different

from

those

the

normal

course

business,

that

the

Simplified

Issuer

has

signed

the

last

fiscal

years

must

presented,

mentioning

the

expiration

date,

the

possibility

renewing

them

and

indicating

what

extent

the

renewal

such

contracts

may

affected.

iv)

Main

Clients

must

mentioned

there

dependence

the

Simplified

Issuer

with

one

several

clients,

understanding

that

dependence

exists

when

the

loss

these

would

adversely

affect

the

operating

results

the

financial

situation

the

Simplified

Issuer.

Similarly,

the

name

any

client

and

its

relationship,

any,

with

the

Simplified

Issuer

and

its

subsidiaries

must

incorporated,

provided

that

sales

that

client

groups

clients

represent

10%

the

total

consolidated

sales

the

Simplified

Issuer.

Applicable

Legislation

and

Tax

Situation

Description

the

effect

laws

and

governmental

provisions

the

development

the

business,

well

the

special

tax

benefits

(subsidies,

exemptions

and

others)

enjoyed

the

Simplified

Issuer

subject

any

special

tax.

Likewise,

the

relevant,

current

potential

impact

any

law

governmental

provision

climate

change

must

indicated.

vi)

Human

Resources

Provide

the

number

people

employed

the

date

the

last

Financial

Statements

and

case

that

the

period

said

number

had

varied

considerably,

explanation

why

the

mentioned

variation

occurred.

Likewise,

the

percentage

employees

between

management

and

unionized

must

presented,

and

description

the

relationship

that

maintained

with

the

union.

the

Simplified

Issuer

contracts

significant

number

temporary

employees,

the

number

people

hired

under

this

system

the

last

fiscal

year

must

indicated.

vii)

Environmental

Performance

must

mentioned

the

Simplified

Issuer

has

environmental

policy,

has

intends

install

environmental

management

system,

has

any

environmental

certificate

recognition

either

the

competent

authority

properly

accredited

entity

and

there

any

program

project

for

the

protection,

defense

restoration

the

environment

and

natural

resources.

Likewise,

must

explained

whether

the

activities

inherent

the

Simplified

Issuer

represent

considerable

environmental

risk.

Additionally,

the

relevant,

current

potential

impacts

derived

from

climate

change

the

business

the

Simplified

Issuer

must

revealed.

viii)

Market

Information

description

the

main

markets

which

the

Simplified

Issuer

participates,

including

its

market

share,

its

main

competitors,

well

the

positive

and

negative

aspects

its

competitive

position.

this

sense,

any

statement

regarding

this

must

supported.

ix)

Corporate

Structure

the

Simplified

Issuer

part

corporate

group,

must

present

its

integration

indicating

the

activities

the

Significant

Subsidiaries

and

its

position

the

same.

Similarly,

case

shareholding

companies,

the

name,

percentage

capital

held,

and

different,

the

proportion

voting

must

provided,

well

the

business

relationships

that

exist

with

the

significant

subsidiaries

that

appear

the

fiscal

year

being

presented

(e.g.

asset

rental,

technical

and

financial

support,

transactions

between

both,

etc.).

When

considered

that

the

subsidiaries

are

not

significant

and

there

large

number

them,

the

Simplified

Issuer

may

report

only

the

total

number

them.

Likewise,

similar

information

must

presented

for

the

case

associated

companies

and

the

participation

such

company

the

consolidated

net

result

the

Simplified

Issuer

when

greater

than

10%.

subsidiary

will

considered

significant

when

meets

any

the

following

conditions:

when

the

total

assets

the

subsidiary

question

exceed

10%

the

total

assets

presented

the

consolidated

Financial

Statements

the

last

fiscal

year,

when

the

revenues

the

subsidiaries

exceed

10%

the

total

consolidated

revenues.

Description

the

Main

Assets

Information

relative

any

important

fixed

asset

the

Simplified

Issuer

must

presented

mentioning

its

size,

use,

location,

products

manufactured

them,

condition

which

found,

age,

installed

and

used

capacity,

whether

they

have

insurance,

whether

they

are

owned

rented

third

parties,

dimensions,

environmental

measures

that

affect

the

use

these

assets,

etc.

The

Simplified

Issuer

must

also

mention

any

asset

has

been

granted

collateral

obtain

any

credit,

the

type

asset

destined,

procedure

execute

such

collateral

and

the

general

characteristics

the

credit

(amount,

rate,

term,

etc.).

With

respect

plans

build,

expand

carry

out

improvements

the

facilities,

the

nature

and

reason

for

carrying

out

such

plans

must

described,

the

way

which

the

project

will

financed

and

the

expected

increase

productive

capacity.

xi)

Judicial,

Administrative

Arbitral

Proceedings

must

briefly

described

there

currently

well,

the

probability

that

there

may

exist

the

future,

any

relevant

judicial,

administrative

arbitral

proceeding,

which

different

from

those

that

are

part

the

normal

course

business,

which

the

Simplified

Issuer,

persons

it,

may

involved,

provided

that

such

proceeding

has

had

may

have

significant

impact

the

operating

results

and

the

financial

position

the

Simplified

Issuer.

Likewise,

the

court

administrative

instance

where

such

proceeding

taking

place

must

mentioned,

the

date

which

was

filed

and

whether

the

result

such

proceeding

has

had

may

have

relevant

adverse

effect

the

operating

results

and

the

financial

position

the

Simplified

Issuer.

there

than

one

judicial

proceeding

regarding

the

normal

course

the

businesses

the

Simplified

Issuer

that

individually

cannot

have

relevant

adverse

effect,

but

analyzed

conjunction

with

other

similar

cases

does,

the

relevant

information

regarding

this

must

provided.

Additionally,

the

Simplified

Issuer

must

reveal

any

the

scenarios

established

articles

and

the

Commercial

Bankruptcy

Law,

could

declared

has

been

declared

commercial

bankruptcy.

judicial,

administrative

arbitral

proceeding

considered

relevant

estimated

that

could

represent

cost

benefit

least

10%

the

assets

the

Simplified

Issuer

Commercial

Bankruptcy

Law.

xii)

Representing

Capital

The

amount

subscribed

and

paid

capital,

the

number

and

class

that

represent

it,

the

detail

their

characteristics

and,

applicable,

information

about

unpaid,

fixed

and

variable

capital

must

described.

must

revealed

significant

proportion

capital

has

been

paid

kind

the

last

fiscal

years.

cases

where

there

authorized

capital,

but

not

subscribed,

its

amount

must

indicated,

and

the

reason

why

was

authorized.

Likewise,

the

amount

any

value

circulation

capital

and

the

conditions

and

procedures

for

its

conversion,

exercise,

exchange

subscription

must

revealed.

The

events

that

have

occurred

that

have

modified

the

amount

capital,

the

number

and

classes

that

compose

must

identified

for

the

last

fiscal

years.

Likewise,

the

price

and

conditions

each

new

issuance

must

specified

for

that

same

period,

including

any

discount

special

condition

that

has

been

granted

shareholders

who

have

subscribed

the

shares.

case

that

simplified

issuance

has

been

made,

mention

regarding

this

must

made.

Likewise,

the

reasons

why

the

amount

capital

was

reduced,

any,

must

indicated.

Additionally,

the

Simplified

Issuer

must

disclose

the

open

positions

maintains

settlement-in-kind

derivative

instruments

whose

underlying

the

Simplified

Issuer.

xiii)

Dividends

The

frequency

with

which

the

Simplified

Issuer

has

declared

dividends

the

last

fiscal

years

must

mentioned,

well

the

amount

the

dividend

declared

per

share.

must

described

there

are

restrictions

that

limit

the

Simplified

Issuer

the

payment

dividends

that

may

limit

its

future

payment

capacity.

Likewise,

when

the

Simplified

Issuer

has

not

paid

cash

dividends

despite

having

the

capacity

pay

them

according

its

profits,

must

explain

why.

Similarly,

the

dividend

policy

that

the

board

directors

intends

the

future

and

the

general

shareholders

meeting

which

said

policy

was

established

must

explained.

THE

SECURITIZATION

OPERATION

Trust

Equity

Evolution

the

trust

assets,

including

their

revenues

Describe

the

general

state

the

asset

portfolio

cash

flows

the

reported

period,

well

its

performance

during

said

period,

which

must

include

statistical

information

tabular

graphical

format,

case

that

said

format

helps

better

understanding.

The

information

that

included

must

cover

least

years

age

those

that

are

available

case

that

significant

portion

the

assets,

rights

Securities

trusteed

have

life

less

than

that

period.

Likewise,

indicate

the

information

has

been

reviewed

any

independent

third

party

indicating

the

scope

its

review.

Whenever

the

relevant

information

relative

the

performance

the

assets,

rights

Securities

(when

comes

simplified

issuances

that

involve

credit

rights),

varies

depending

their

nature

and

the

characteristics

the

transaction,

said

information

may

include,

among

other

aspects:

i.i)

Performance

the

assets.

The

revenues

generated

during

the

reported

period

product

the

performance

the

trusteed

assets,

rights

Securities,

breaking

down

concepts

such

as:

ordinary

interests,

delinquent

interests,

commissions

other

ancillary

concepts,

scheduled

principal

payments,

early

principal

payments

and

principal

payments

obtained

the

sale

liquidation

assets.

i.ii)

Composition

the

totality

the

assets

the

period.

Composition

the

reported

period

the

number

and

balance

the

trusteed

assets,

rights

Securities,

applicable,

type

asset,

federative

entity

geographical

region,

debtors

when

there

dependence

one

some

for

the

payment

the

Securities,

applicable

interest

rate,

life

and

term,

amortization

period,

other

relevant

variables.

case

that

the

assets

include

credit

rights,

suggested

separate

the

totality

the

credit

rights

into

independent

groups

from

each

other,

each

one

which

represents

credit

rights

whose

original

term

was

the

same

interval

months

years,

and

for

each

one

these

groups

present

information

that

describes

their

main

characteristics

and

behavior

such

the

following:

the

number

credits

that

compose

it,

the

sum

their

original

amounts,

the

sum

their

outstanding

balances

the

period,

the

weighted

average

the

term

which

they

were

granted,

the

weighted

average

the

interest

rate

which

they

were

granted

and,

case

that

different

from

this

latter,

the

weighted

average

the

interest

rate

that

they

are

accruing

the

date

the

report.

case

that

relevant,

this

information

must

presented

separately

for

the

credits

considered

valid

and

for

the

credits

considered

delinquent

defaulted

the

period

that

reported.

i.iii)

Variation

balance

and

number

assets.

Number

and

balance

the

assets,

rights

Securities,

the

beginning

and

the

end

the

reported

period.

The

explanation

the

variation

observed,

breaking

down

the

number

assets

that

were

added,

acquired,

eliminated,

substituted,

sold,

liquidated

subject

any

other

relevant

movement

during

the

period.

case

that

the

variations

are

relevant,

description

the

criteria

and

the

procedures

used

origin,

acquire,

add,

eliminate,

substitute,

sell

and

liquidate

assets

make

them

the

object

any

other

relevant

movement

must

included.

Additionally,

when

comes

asset

acquisitions,

the

information

about

their

composition,

which

must

presented

with

the

same

detail

and

the

same

way

specified

sub-clause

i.ii)

above.

The

information

referred

this

sub-clause

must

presented

without

prejudice

the

fact

that

the

information

required

the

sub-clause

i.ii)

includes,

part

the

information

the

totality

the

trusteed

assets

the

period,

the

data

the

assets

that

have

been

acquired

during

the

period

that

reported.

i.iv)

State

the

assets

degree

level

compliance.

Number

and

balance

the

assets

that

the

reported

period

are

found

each

one

the

following

groups:

valid

assets

the

process

regular

collection

without

delay

their

payments;

assets

that

show

delay

default

but

that

are

still

the

process

regular

collection,

distinguishing

between

those

that

have

between

and

days

delay,

those

that

have

between

and

days,

those

that

have

between

and

days

and

those

that

have

than

days

delay;

assets

that

are

the

process

judicial,

administrative

arbitral

proceeding.

The

information

referred

this

paragraph

must

accompanied

explanation

about

the

moment

when

asset

passes

from

regular

collection

judicial,

administrative

arbitral

proceeding.

i.v)

Guarantees

the

assets.

The

important

changes

that

have

occurred

during

the

period

that

reported

the

guarantees

the

assets,

rights

Securities

trusteed,

any

payment

obligation

that

these

have.

i.vi)

Simplified

Issuances

Securities.

Detailed

information

about

the

simplified

issuances

that

have

been

made

during

the

period

that

reported,

Securities

backed

the

same

assets,

rights

Securities

Trustees.

All reports prepared during the reporting period in compliance with the contracts and/or agreements related to the establishment and operation of the trust and/or the administration of the assets, which may be: reports on the performance and status of the assets and/or reports on the various payments made by the trust, shall be attached as annexes to the annual report.

A summary of the information contained in the reports referred to in this paragraph may be included, provided that the reference where such reports can be consulted in their entirety and free of charge by the investing public is indicated, as well as the period during which the consultation can be made, which cannot be less than 1 year.

ii) Performance of the Issued Securities

Provide a breakdown of all payments made to the holders of the Securities during the reporting period, indicating the date, the amount paid, and the concept for which such payment was made, for each of the concepts provided for in the contracts backing the operation, such as: interest, scheduled principal payments, and early principal payments.

Likewise, include the formulas and bases for the determination of all payments referred to in the preceding paragraph.

In the case of early principal payments, indicate the causes that gave rise to such payments.

In the event that during the reported period there had been defaults in the timely payment of amounts to any of the holders of the Securities for interest, principal, or for any other concept, which had remained unpaid for more than 30 days, detail all these defaults indicating for each one: the causes, nature, and consequences of the default, the amount that should have been paid, the date on which it should have been made, and, if applicable, the dates and amounts of the payments that have been made subsequently to cover said default.

Likewise, for each series of Issued Securities, present the outstanding balance, the number of titles in circulation, and the adjusted nominal value per title at the beginning and at the end of the period being reported.

b) Relevant Information of the Period

In the event that there are relevant changes in information reported previously, relative to the topics mentioned below, in an enumerative but not exhaustive manner, an explanation of the change in question shall be included, as well as indicating the document in which the information being modified was last revealed and its date of presentation to the Stock Exchange and the investing public:

Factors that may significantly affect the performance of the assets backing the simplified issuance and the source of payment of the instruments.
Terms and conditions of the trust agreement or any other relevant contract for the operation, such as administration or operation, assignment, among others.
Any relevant non-compliance with what is established in the contracts referred to in the preceding paragraph; in this sense, in the event that there is no relevant non-compliance, a mention to that effect shall be made.
Pending legal proceedings against the originator, administrator, or operator of the assets, trustee, as well as any other third party that is relevant to the holders of the Securities or proceedings that may be executed by government authorities.
Legal processes that have ended during the period covered by the report, revealing the date of termination and a description of the final result.

The foregoing is understood in that a legal process only needs to be revealed in the reports corresponding to the period in which it has become relevant and in subsequent reports only if there have been significant changes.

Relevant deviations between the estimates that, if applicable, were included in the placement prospectus and the figures actually observed during the period being reported, explaining the causes of such deviations.
Information on relevant debtors to evaluate their credit risk, when the fulfillment of the trust's obligations depends totally or partially on a single debtor or debtors.
Name of the administrator or operator of the trust assets, rights, or Securities and its organizational form.
Information about the administrator or operator of the assets such as the following: their experience as an administrator and the procedures they use when performing administration functions for the type of trust assets, rights, or Securities, such as collection systems, distribution of flows from the assets, subcontracting of services, systems for generating reports, among others; size, composition, and growth of all assets, rights, or Securities that they administer or operate and that are similar to those that make up the trust's equity; relevant changes in the last three fiscal years in their policies or procedures applicable to the administration or operation activities they will carry out for the type of trust assets, rights, or Securities.

In the event that the trust has a master administrator, the administration structure, functions, and responsibilities of each of the participants in said structure, as well as the name and percentage of the portfolio administered by each of the primary administrators.

Terms and conditions of the obligations of other third parties obligated with the trust or the holders of the Securities, such as guarantees, guarantors, counterparties in financial derivative or hedging operations, credit support, among others, as well as the manner and/or procedures to make them enforceable.

Additionally, a summary of the relevant events that have been transmitted to the Stock Exchange, for dissemination to the investing public, during the fiscal year being reported and up to the date of presentation of this annual report, shall be included.

c) Other Third Parties Obligated with the Trust or the Holders of the Securities, as applicable

When there are other third parties obligated with the trust or the holders of the Securities, such as guarantees, guarantors, counterparties in financial derivative or hedging operations, credit support, among others, and in the placement prospectus of the Securities information regarding said third parties had been included, an update of that information regarding each third party in question shall be included, to evaluate their credit risk, to the extent considered relevant.

4) FINANCIAL INFORMATION

a) Selected Financial Information

Selected financial information shall be presented in comparative columns for the last 2 fiscal years.

This information shall be provided for a broader period when considered as Relevant Information.

The purpose of this information is to highlight, through an easy-to-read format, certain trends in the financial situation of the Simplified Issuer and in its operating results.

It is important to mention that the information presented in the selected financial information table shall be adjusted to the particular characteristics of the Simplified Issuer.

In this sense, information such as the following shall be included:

net sales or operating income, gross (loss) profit, operating (loss) profit, and net (loss) profit, (loss) earnings per share, acquisition of properties and equipment, depreciation and amortization of the period, total assets, total long-term liabilities, accounts receivable turnover, accounts payable turnover, inventory turnover, equity capital, and cash dividends declared per share.

On the other hand, those factors that significantly affect the comparability of the data presented in the selected financial information table, such as changes in accounting, mergers, sale of companies, etc., shall be briefly mentioned, or, if applicable, indicate the section where they are explained.

Likewise, factors or uncertain events that may cause the information presented not to be indicative of the future performance of the Simplified Issuer shall be explained or the section where they are explained shall be indicated.

Financial projections are not recommended; however, the Simplified Issuer that decides to present them shall adequately justify them by providing an explanation of how the projections were determined, the assumptions used to prepare them, and the risk that they may not be fulfilled.

b) Financial Information by Business Line, Geographic Area, and Export Sales

For the last fiscal year, financial information for each relevant business line and geographic area shall be identified, in accordance with the applicable financial information standards.

Additionally, export sales shall be revealed in a consolidated manner or by geographic area when considered relevant information, indicating the amount and percentage participation of such exports with respect to total sales for the last fiscal year.

If considered relevant, such information shall comprise the first quarter of the year in which it is being presented and of the previous fiscal year for the same comparable period.

c) Report on Relevant Credits

A report on relevant credits or contingencies and their priority in payment shall be provided, including those credits or debts of a fiscal nature.

At least those credits that represent 10% or more of the total liabilities of the Simplified Issuer's consolidated Financial Statements at the last fiscal year shall be included.

Likewise, it shall be indicated whether the Simplified Issuer is current in the payment of principal and interest of the aforementioned credits.

Additionally, any additional benefit or agreement, as well as causes for early maturity, granted to any debt security issued abroad or credit of any nature, that differs from those established in issuances made in the national market, shall be revealed.

d) Management's Comments and Analysis on the Operating Results and Financial Situation of the Simplified Issuer

In this section, all information that facilitates the analysis and understanding of the important changes occurred in the operating results and in the financial situation of the Simplified Issuer shall be provided.

It should be noted that the information that shall be included in this section is that which does not appear clearly in the Financial Statements of the Simplified Issuer (e.g., it is not only necessary to mention how much sales or costs grew or decreased, but the reason for these movements), as well as those events known by management that may cause the reported information not to be indicative of the future operating results and of the future situation of the Simplified Issuer.

It shall also briefly describe any economic, fiscal, monetary policy, or political and social factors that have affected or may come to directly or indirectly affect the operation of the Simplified Issuer or the investments of non-resident holders.

Likewise, any known trend, commitment, or event that may or will significantly affect the liquidity of the Simplified Issuer, its operating results, or its financial situation (e.g., future salary increases, raw materials or product prices, changes in market share, entry of new competitors, possibility of renewing a relevant contract, changes in legislation, etc.) shall be identified.

Additionally, the Simplified Issuer shall identify recent behavior in production, sales, inventory levels, value of unfilled orders (backlog), as well as the behavior of its costs and selling prices.

On the other hand, the Simplified Issuer shall inform about the items of the Financial Statements that were re-expressed using indices other than the National Consumer Price Index of Mexico for the last 2 years; in such case, it shall be mentioned what index or reference factor was employed.

The analysis and comments on the financial information shall refer to the following topics:

i) Operating Results

Significant changes in sales, cost of sales, operating expenses, total financing cost, taxes, and net profit, corresponding to the last fiscal year, shall be explained, as well as a general explanation of the trend that these accounts have shown in the last 2 fiscal years and the factors that have influenced these changes.

Explain to what extent increases in sales (in the event that they have occurred) are attributable to price increases and to what extent they are attributable to volume increases or sales of new products.

If considered relevant, the impact of inflation and fluctuations in the exchange rate shall be explained, and the manner in which loans or investments in foreign currency are covered with export sales and other foreign exchange hedging instruments.

ii) Financial Situation, Liquidity, and Capital Resources

In this section, the Simplified Issuer shall provide the following information:

Description of internal and external sources of liquidity, as well as a brief description of any important source of resources not yet used, including the nature of any restriction agreed with subsidiaries to transfer resources to the Simplified Issuer.
Information on the level of indebtedness at the end of the last 2 fiscal years, as well as the seasonality of credit requirements and available credit lines.

In this sense, information on the profile of debt incurred shall be provided, indicating whether it is at a fixed or variable rate, as well as the financial instruments used, frequency, and manner of amortization of the titles, and, if applicable, indicate causes and treatment of early amortization, additionally considering if the following aspects could be considered causes thereof:

Default in the payment of principal or interest.
Cross-default and cross-acceleration with any other debt of the Simplified Issuer.
Breach of obligations to do or not to do.
Declaration or request for bankruptcy, liquidation, or commercial insolvency.
Delivery of significant false or incorrect information.
Changes in control of the Simplified Issuer.
Description of the policies governing the treasury of the Simplified Issuer, as well as the currencies in which the cash or temporary investments of the Simplified Issuer are held as of the most recent date.
To the extent considered relevant, information on the fiscal credits or debts that the Simplified Issuer holds at the last fiscal year shall be provided, indicating if they are current in the payment thereof.
Information relative to relevant capital investments that were committed at the end of the last fiscal year, as well as the detail associated with said investments and the source of financing necessary to carry them out.

The Simplified Issuer shall explain the changes occurred in the main accounts of the balance sheet of the last fiscal year, as well as a general explanation of the trend of the same in the last 2 fiscal years.

In this sense, the use of financial ratios is recommended to achieve a better understanding of the changes in the financial situation.

Additionally, the Simplified Issuer shall indicate if there are relevant transactions not registered in the balance sheet or income statement, mentioning the basis for not registering said operations, and revealing the risk and future effect they might represent for its financial situation or results.

iii) Internal Control

The Simplified Issuer shall reveal if it has an internal control system and, if applicable, include a brief description of it and of the body or official responsible for establishing it.

Internal control shall be understood as the system that provides reasonable assurance that transactions are carried out and recorded in accordance with what is established by management, as well as with the general guidelines, criteria, and financial information standards applicable.

e) Critical Accounting Estimates, Provisions, or Reserves

The Simplified Issuer shall mention the critical accounting estimates, provisions, or reserves, understanding by critical accounting estimate, provision, or reserve any approximation made by management of an element, item, or account of the Financial Statements, which requires the Simplified Issuer to establish assumptions on aspects that are probable and can be reasonably estimated.

Additionally, it shall be informed if the Financial Statements will be significantly affected by changes in estimates, provisions, or reserves that may occur.

For each critical estimate, provision, or reserve, the following shall be presented at a minimum:

A description of the estimate, provision, or reserve.
Description of the methodology used to determine them.
Description of the assumptions that support them.
Description of events that may occur and that could significantly affect the methodology or assumptions used.

5) MANAGEMENT

a) External Auditors

Any change of external auditors that has occurred in the last 2 fiscal years shall be mentioned, indicating if they resigned or were removed by the Simplified Issuer, as well as the reason for such resignation or dismissal.

On the other hand, it shall be specified if in the last 2 fiscal years the external auditors have issued a modified or unfavorable opinion, that is, qualified opinion, adverse opinion (or disclaimer of opinion) regarding the Financial Statements of the Simplified Issuer.

Likewise, the procedure followed to appoint external auditors shall be revealed, and the services that would have been provided to the Simplified Issuer for concepts other than auditing during the fiscal year being presented, amount paid for said services, and the percentage that represents of the total expenditures made to the audit firm where the external auditor works, shall be briefly described.

b) Transactions with Related Parties and Conflicts of Interest

In this section, those relevant transactions or credits that have been carried out in the last 2 fiscal years and up to the date of presentation of this report, between the Simplified Issuer and related parties to it, shall be described, indicating if they were carried out under market conditions.

In addition, operations that are entered into with companies on which the Simplified Issuer holds 10% or more of the shares with voting rights or shareholders who hold said percentage in the Simplified Issuer shall be made known.

Likewise, any other transaction that, in terms of the applicable accounting regulations, is considered as transactions with related parties shall be included.

c) Administrators and Shareholders or Holders' Assemblies

Regarding the board of directors, the number of members that compose it (owners and alternates), the type of directors (independent or not), their names, manner of designation, functions, and the powers of the board of directors shall be mentioned.

Likewise, the dates and types of general shareholders' assemblies in which they were designated and the period for which they were elected shall be mentioned.

Additionally, the following information shall be provided, both for directors and relevant executives:

name, sex, position, time working at the Simplified Issuer, companies where they are collaborating as main executives or as members of the board of directors, indicating if said companies have any type of relationship with the Simplified Issuer and any other information necessary to know their professional capacity.

Additionally,

the following information must be provided if considered relevant:

age, maximum level of education and companies where they have collaborated as relevant executives or as members of the board of directors.

In the event that there is kinship by blood or affinity up to the fourth degree or civil, including their spouses, concubines or partners, between any councilor or relevant executives, this must be explained.

Likewise, the composition by sex, in percentage terms, of the total of the relevant executives and of the councilors must be made known, indicating with respect to the latter their type and whether they are owners or substitutes.

Likewise, it must be indicated whether the Simplified Issuer has any policy or program that promotes labor inclusion without distinction of sex in the composition of its governing bodies and among its employees and, if applicable, describe it, including if it was, if applicable, authorized by any governing body and if there is, if applicable, any person responsible for its compliance.

The name, denomination or trade name of the following natural or legal persons must be provided, identifying the circumstance in which they fall:

a) Beneficiary shareholders of more than 10% of the share capital of the Simplified Issuer.

b) Shareholders who exercise significant influence.

c) Shareholders who exercise control or command power.

If through a group of persons, in terms of the Law, any of the aforementioned circumstances is reached, said group must be identified, as well as the natural person considered as the main beneficiary shareholder that is part of it.

Additionally, the name and the aggregated shareholding participation of the councilors and relevant executives in the Simplified Issuer who have an individual holding greater than 1% and less than 10% must be revealed.

When the information on the ownership of the aforementioned shares does not present any change, its revelation in the annual report may be omitted, provided that, in substitution, the reference to the public document in which such information can be consulted is included.

In the event that significant changes have occurred in the last 2 years, in the ownership percentage maintained by the current principal shareholders, this fact must also be revealed.

On the other hand, it must be indicated whether the Simplified Issuer is controlled, directly or indirectly, by another company, by a foreign government, or by any other natural or legal person and, if so, provide the names, as well as a brief description of the nature of such control, command power or significant influence, including the amount and proportion of the capital with voting rights.

Likewise, it is necessary to describe any commitment, known by the Simplified Issuer, that could signify a change of control in its shares.

For the purposes of what is provided in this section, a beneficiary shareholder will be understood as any person who, regardless of whether they are registered as the holder of the shares, enjoys the rights that these confer on them.

These benefits include the power to exercise voting rights, the sale of the shares or receiving the economic benefits derived from them.

Likewise, those shares that the natural or legal person can acquire in a period of less than 60 days through some agreement or option must be considered.

Likewise, beneficiary shareholders must be considered those persons who hold their Securities through 1 or more trusts, brokerage firms, legal advisors or other intermediaries, or through companies over which they exercise control, which means the direct or indirect power to direct the administration and policies of the company.

The total amount that represents together the benefits of any nature that were received from the Simplified Issuer during the last fiscal year by the persons who make up the board of directors, relevant executives and individuals who have the status of related persons must be made known.

On the other hand, the total amount provided for, or accumulated by the Simplified Issuer, for pension, retirement or similar plans, for the aforementioned persons, must be provided.

Likewise, a description of the type of compensation and benefits that the aforementioned persons receive together from the Simplified Issuer must be provided.

Likewise, the agreements or programs for the benefit of the members of the board of directors, relevant executives or employees of the Simplified Issuer that allow them to participate in its share capital must be mentioned, describing in detail their rights and obligations, including the mechanics for the distribution of shares and the determination of the prices at which they will be distributed.

Additionally, the Simplified Issuer must mention the committee or committees constituted to assist the board of directors in its functions, briefly describing them.

Likewise, the names of the members who form them must be cited, as well as whether said committee(s) has(have) at least one member who is a financial expert, and in the event of not having the latter, the reasons must be reported.

A financial expert will be understood as a person who has extensive experience as an external auditor, accountant, finance director, comptroller, or person who performs similar functions.

Information regarding the possible existence of intermediate administrative bodies must also be provided, including the name of their members, their relationship with the Simplified Issuer and a summary of the operational bases of said bodies.

In the event that the Simplified Issuer does not have these bodies, a mention to that effect must be made.

Likewise, the Simplified Issuer must reveal if it has codes of conduct applicable to the board of directors and relevant executives and, if applicable, include a summary of the main guidelines provided for in said codes of conduct.

In the case of Asset-Backed Securities, if any matter has been submitted to the vote of the holders of the Securities during the period covered by the report, through any appropriate means, provide the following information:

The date and type of assembly.
If in said assembly it was decided on the designation of executives, the name of each designated executive as well as any ratification carried out.
A brief description of any matter submitted to vote during the assembly as well as the number of votes for each resolution, in favor or against.
A description of the terms of any agreement taken between the Simplified Issuer and any other participant.

d) Articles of Association and other agreements

The power of the board of directors to establish compensation plans for executives and councilors, as well as to make decisions regarding any other matter in which they may have a personal interest, must be indicated.

Likewise, any agreement that has the effect of delaying, preventing, deferring or making more onerous a change in the control of the Simplified Issuer must be described.

On the other hand, the Simplified Issuer must reveal if there are trusts or any other mechanism, under which the corporate rights conferred by the shares are limited.

Regarding shares, additionally the following information must be presented:

a) In the event that modifications have been made to the articles of association, a summary of said modifications must be presented, as well as those most relevant statutory clauses such as those related to minority rights, corporate governance, share repurchase, among others.

b) On the other hand, the corporate rights granted by the different types of shares of the Simplified Issuer regarding the exercise of voting in general shareholders' meetings must be described, for example, restricted voting rights, no voting rights, full voting rights, preferential rights, minority rights and quorum for the installation and validity of resolutions.

Likewise, the process that must be followed to change the rights associated with the shares and any limitation for the acquisition of these by shareholders or a certain class of shareholders must be mentioned.

c) The Simplified Issuer must reveal if there are statutory clauses or agreements between shareholders that limit or restrict the administration of the Simplified Issuer or its shareholders (for example, establishing a minimum quorum for general shareholders' meetings above that established by the General Law of Commercial Companies, contracting liabilities, making investments, changing the compensation of relevant executives, selling assets, etc.).

Regarding financial entities:

d) That information referred to in article 86, fraction XI of the Securities Market Law.

Regarding Foreign Simplified Issuers:

e) Other corporate governance practices.

In the event that the Simplified Issuer adheres to any corporate governance code, a brief description of this must be included.

In the event that it does not adhere to any, a declaration to that effect must be included.

Likewise, other corporate governance practices that are considered relevant must be indicated such as:

Existence of committees or persons in charge of corporate and/or audit practice functions.
Minimum frequency and average of board of directors meetings.
Access to information of the Simplified Issuer by councilors for decision-making.
Existence of an internal audit area.

6) CAPITAL MARKET (only for Simplified Issuers of shares)

a) Share structure

In the event of having listed Securities in other markets, indicate the number and type of shares that represent said Securities and the rights of the holders.

b) Behavior of the share in the Securities market

An informative table must be shown showing how the shares of the Simplified Issuer behaved at the close of the last 2 fiscal years, each quarter for the last fiscal year and monthly for the 6 months prior to the presentation of this report, including the maximum and minimum price of the period, the volume traded by series, and the Exchange in which it is quoted.

It must explain in general terms, if applicable, the impact of the Market Maker's performance on the levels of operation and on the prices of the shares of the Simplified Issuer, as well as on the maximum price differentials between the buy and sell positions on said Securities to which the Market Maker is or was subject in accordance with what is established by the corresponding Exchange.

In the event that the quotation of its Securities has been suspended in the Exchanges in which it is quoted, explain the reasons for said suspension.

c) In the case of shares, Market Maker

In the event that the services of a Market Maker have been contracted (in accordance with the definition indicated in article 1 of the General Provisions applicable to securities issuers and other participants in the securities market), the following information must be provided:

The denomination of each Market Maker that has provided its services during the immediate previous year.
The identification of the Securities with which each Market Maker operated: type of security, quotation key (Simplified Issuer and series), ISIN / CUSIP Code, etc.
The start of the validity, extension or renewal of the contract with the Market Maker in question, the duration of this and, if applicable, the termination or rescission of the corresponding contracts.
The description of the services provided by the Market Maker; as well as the general terms and conditions of contracting, in the case of current contracts.

The general description of the impact of the Market Maker's performance on the levels of operation and on the prices of the Securities of the Simplified Issuer with which said intermediary operates.

7) GUARANTEE OR GUARANTOR INFORMATION or regarding those who have dependency as settlor, administrator or any other third party

In the case of guaranteed or secured issuances, the following information on the guarantee or guarantor must be included at a minimum, except regarding Subsidiaries of the Simplified Issuer, in which case the amount of their total assets, book capital, sales and operating profit must be revealed for each one, according to the latest financial statements audited by an external auditor, except when all subsidiaries have signed as guarantors:

Trade name and commercial name or, if applicable, the name of the natural person, as well as a description of the business in which they participate.
The Financial Statements.

Any other information that is considered relevant to evaluate the credit risk of the guarantee or guarantor in question.

8) RESPONSIBLE PERSONS

Include the name and position of the persons who prepared the annual report and who must sign the document, as follows:

1 The general director and the heads of the finance and legal areas, or their equivalents, of the Simplified Issuer, alongside the following legend:

" We, the undersigned, declare under oath that, within the scope of our respective functions, we prepared the information regarding the Simplified Issuer contained in this annual report, which, to the best of our knowledge and belief, reasonably reflects its situation. We also declare that we have no knowledge of relevant information that has been omitted or falsified in this annual report or that it contains information that could mislead investors. "

2. The representative, agent or attorney-in-fact of the legal person that provides the external audit services and by the external auditor, who may be the same person, exclusively for the purposes of the information regarding the Financial Statements that they audit, as well as any other financial information that is included in the annual report, whose source comes from the Financial Statements audited by them, alongside the following legend:

" The undersigned declares under oath that the Financial Statements contained in this annual report for the fiscal years (include the fiscal years to which said Financial Statements refer) were audited on the date (include the date of the audit opinion for each of the Financial Statements included), in accordance with the International Standards on Auditing (a specific mention of the standards used may be included). Likewise, he declares that he has read this annual report and based on his reading and within the scope of the audit work performed, he has no knowledge of relevant errors or inconsistencies in the information that is included and whose source comes from the audited Financial Statements indicated in the previous paragraph, nor of information that has been omitted or falsified in this annual report or that it contains information that could mislead investors. However, the undersigned was not hired, and did not perform additional procedures with the object of expressing his opinion regarding the other information contained in the annual report that does not come from the Financial Statements audited by him. "

3. Regarding Asset-Backed Securities, additionally:

3.1. The legal representative of the trustee, alongside the following legend:

" The undersigned declares under oath that his represented party, in its capacity as trustee, prepared the financial information regarding the trust's assets, as well as the information related to the issued Securities and the applicable contracts, contained in this annual report, which, to the best of his knowledge and belief, reasonably reflects its situation and that he ensured that in the reported period there were no relevant differences between the income of the trust attributable to the assets, rights or Securities entrusted and the information he received from the administrator or operator regarding the collection of said assets, rights or Securities. Likewise, he declares that, within the scope of the activities for which he was hired, he has no knowledge of relevant information that has been omitted or falsified in this annual report or that it contains information that could mislead investors. "

3.2. The general director and the heads of the finance and legal areas, or their equivalents, of the administrator or operator of the assets, rights or Securities entrusted, alongside the following legend:

" We, the undersigned, declare under oath that, within the scope of our respective functions, we prepared the information regarding the collection of the assets, rights or Securities entrusted, or any other information of my represented party contained in this annual report, which, to the best of our knowledge and belief, reasonably reflects its situation. We also declare that we have no knowledge of relevant information that has been omitted or falsified in this annual report or that it contains information that could mislead investors. "

3.3. The legal representative of the common representative, alongside the following legend:

" The undersigned declares under oath that his represented party, in its capacity as common representative, reviewed the financial information regarding the trust's assets, as well as that related to the issued Securities, the applicable contracts and the collection of the assets, rights or Securities entrusted, contained in this annual report, which, to the best of his knowledge and belief, reasonably reflects its situation. "

9) APPENDICES

Audited financial statements and opinions of the audit committee and reports of the commissioner, if applicable.

As well as the report of the commissioner, for the fiscal years in which said committee has not rendered its opinion and the audited financial statements by an external auditor of the last 2 fiscal years, adhering for its preparation to what is established by these provisions.

This information is disclosed in the prospectus and annual report.

ANNEX E

Rules of Operation, use of Electronic Keys and Passwords of the "STIV" Information Transfer System on Securities

First.- These rules aim to establish the procedure that must be followed for the electronic presentation of requests for Simplified Registration, Update of Simplified Registration, Taking of Note and Cancellation referred to in the General Provisions applicable to simplified issuers and securities subject to simplified registration ("Provisions"), as well as for the dissemination of information for purposes of promotion, marketing or advertising regarding Securities.

Second.- Simplified Issuers must send to the Commission the requests and the attached documentation required, in accordance with the Provisions, through the Commission's Internet page via STIV.

The documents must be sent on a single occasion and their content is the exclusive responsibility of the sender, so once sent they cannot be modified or replaced.

Third.- Requests may be sent at any time and day including weekends; however, the Commission will consider them presented only on business days and hours, so those received outside of said hours will be considered presented on the next business day. Likewise, once the information is submitted, the system will generate a receipt which will specify the date and time of receipt.

Fourth.- To send requests via STIV, the electronic user key and password must be obtained previously in accordance with the procedure established in the "User Manual" which is found on the Internet page of the

CNBV.

The Commission may request additional information to verify the identity of the person requesting the key and password mentioned.

Fifth.- Requests for keys and passwords may be made at any time and day, including weekends; however, the Commission will only resolve on business days and hours. The term to grant the user password of the STIV or, if applicable, to request additional information, shall be no later than the next business day following its receipt. Electronic keys and passwords will be notified to the user via email. They will be obtained once and will be used for the submission of any request referred to in Rule First.

Sixth.- The use of user keys and access passwords to the STIV shall be the exclusive responsibility of the user. The foregoing, without prejudice to other users being able to use them with their consent. Any request made through the key and password of a user shall be considered made by the registered user.

Seventh.- The Commission will proceed with the processing of requests when the user has correctly applied the procedure established in these rules and in the "User Manual". Documents sent electronically shall be considered authentic unless proven otherwise.

Eighth.- In case of modification of the data provided to request the key and password, the user shall be obligated to update said data in accordance with what is established in the "User Manual", with the Commission being authorized to cancel the key and password in case the information is erroneous or does not correspond to reality.

Ninth.- For the submission of a request, the corresponding menu for the Simplified Issuer, of request and value, must be selected, using the user key and password referred to in Rule Second, in accordance with what is indicated in the "User Manual". To this effect, a processing number and a password will be provided, with which the documents required by the Provisions for each request will be identified. The processing number and password must be kept by the representative or authorized person until the Commission resolves on said processing, in order to be able to continue with the sending of complementary information required by this Commission.

Tenth.- Once the filling of the documents is completed and the mailbox is closed by the user for its submission to the Commission, in accordance with what is established in the "User Manual", no subsequent submissions may be made for that same processing, until there is a response from the Commission. The foregoing shall not apply in duly justified cases where the Commission authorizes it.

Eleventh.- In the event that due to system failure, fortuitous event or force majeure the access to the STIV is not available, or exceptionally in duly justified circumstances at the discretion of the Commission, the submission of the request and its attached documentation may be made through the official registry of the Commission, on paper or by email that the Commission enables for such case, and addressed to the General Directorate of Issuers of said Commission.

Twelfth.- The Commission will publish, no later than the next business day following its submission, the requests and attached documentation on its Internet page.

Thirteenth.- The content of the electronic documents must correspond to the description of the document included, in accordance with the aforementioned "User Manual".

ANNEX F Simplified Registration Application

i. Name of the Simplified Issuer or, if applicable, the fiduciary institution Simplified Issuer, as well as of the settlor, the administrator and the beneficiary in the base issuance trust, type and nature of the Simplified Issuer.

ii. Name of the legal representative authorized to submit the request.

iii. Address and email addresses for receiving notifications, as well as telephone number in Mexico.

iv. Name(s) of the person(s) authorized to receive notifications and carry out the procedures inherent to the request.

v. Number and characteristics of the Securities to be registered (class, series, nominal value, ticker symbol, amount, term, interest rate, amortization, guarantee or collateral and any other that allows for their full identification). In the case of backed or guaranteed instruments, information on the guarantor or surety as well as on the guarantees, their constitution and manner of execution.

vi. In the case of fiduciary titles, description of the trust assets.

vii. In the case of registrations with public offering, the characteristics of said offering: a. Type of offering (primary, secondary, national, international). b. Number of titles to be placed. c. Total amount of the offering. d. Period or date of the offering. e. Name of the Placement Intermediary. f. Price range for placement and bases for its determination.

viii. In the case of debt titles: Name of the common representative of the holders.

ix. In the case of titles with a term equal to or less than 1 year:

General information regarding its activity and the location of its main offices, as well as data relating to the members of its board of directors and officials within the immediate hierarchy below the General Director and, if applicable, the name of the companies with which it forms part of the same business group or subsidiaries. The foregoing shall not apply to those Simplified Issuers that maintain other Securities registered, provided that they are up to date in the delivery of periodic information.
Information on the expenses incurred by the Simplified Issuer, for carrying out the simplified registration, issuance and placement of the Securities, including at least, the external auditors, (iv) rating agencies, (v) common representative and, (vi) if applicable, guarantor or surety; understanding that said information must be broken down by each of the advisors, service providers or companies hired by the Simplified Issuer.

x. Signature of the legal representative of the Simplified Issuer, of the legal representative of the shareholders or selling holders (in the case of secondary offerings) or, if applicable, of the fiduciary institution Simplified Issuer and of the settlor company, as well as the legal representative of the Stock Exchanges.

xi. Signature of the legal representative of the Placement Intermediary and, if applicable, of the entity that will act as common representative of the holders, solely and exclusively for the purpose of confirming the acceptance of their position.

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INDICATORS

Exchange Rate and Rates as of 08/24/2026

DOLLAR 16.9018 UDIS 8.806514 TIIE 28 DAYS 6.7961% TIIE 91 DAYS 6.8338% TIIE 182 DAYS 6.8887% TIIE DE FONDEO 6.54%

SURVEYS

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Official Gazette of the Federation Río Amazonas No. 62, Col. Cuauhtémoc, C.P. 06500, Mexico City Tel. (55) 5093-3200, where you can access our services menu Electronic address: dof.gob.mx

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