Notice Communicating the Agreement of the Board of Directors of the National Insurance and Sureties Commission Modifying the Authorization Granted to Pensiones Banamex, S.A. de C.V.

DOF: 15/04/2026

OFFICE LETTER through which the Agreement of the Board of Directors of the National Insurance and Sureties Commission is communicated, which modifies the authorization granted to Pensiones Banamex, S.A. de C.V., member of the Citibanamex Financial Group, to organize, operate and function as an insurance institution.

At the margin, a seal with the National Coat of Arms, which says: United Mexican States.- Treasury.- Ministry of Treasury and Public Credit.- National Insurance and Sureties Commission.- Presidency.- Vice Presidency Legal Department.- General Directorate of Legal Advisory and Intermediaries.- File No. C00.411.3S.2 " 25 ".- Office No. 06-C00-41100-07873/2026.

PENSIONES BANAMEX, S.A. DE C.V., MEMBER OF THE BANAMEX FINANCIAL GROUP

Manuel Ávila Camacho Boulevard No. 24.
Bosque Tower PH

Lomas de Chapultepec Neighborhood
Miguel Hidalgo Municipality

C.P. 11000, Mexico City

SUBJECT:

Agreement of the Board of Directors of this Commission is communicated.

The Federal Government, through the National Insurance and Sureties Commission, prior to the Agreement of its Board of Directors, based on articles 2, fraction I, 17, 26 and 31, fraction VIII, of the Organic Law of the Federal Public Administration; 4, section G, fraction III, 48 and 49 of the Internal Regulations of the Ministry of Treasury and Public Credit; 11, 366, fraction VIII, 367, fractions I and II, 369, fraction II, 370, last paragraph, 372, fraction XLI, and 373 of the Law of Insurance and Surety Institutions; as well as articles 2, 4, fractions I and II, 6 and 9 of the Internal Regulations of the National Insurance and Sureties Commission, issues these Resolutions in response to the following Background and Considerations:

BACKGROUND

FIRST.- PENSIONES BANAMEX, S.A. DE C.V., MEMBER OF THE BANAMEX FINANCIAL GROUP was authorized by the Ministry of Treasury and Public Credit to organize and function as an insurance institution, as stated in the agreement contained in office letter 366-IV-3827 of June 24, 2002. This authorization was last modified by this Commission through the document 06-C00-41100- 06913/2025 of March 6, 2025, published in the Official Gazette of the Federation on June 26, 2025.

SECOND.- By written submission presented at the registry office of this Commission on March 28, 2025, Erika Margarita Montaño Vázquez and Adrián Moreno Díaz, attorneys-in-fact for PENSIONES BANAMEX, S.A. DE C.V., MEMBER OF THE BANAMEX FINANCIAL GROUP , requested approval from this decentralized body for the modification of articles one, two, six, seven, eleven, fifteen, sixteen and twenty-two of the corporate bylaws of that insurance institution since it will cease to operate as a subsidiary insurance institution, updating the references to share series that represent its social capital, as well as the modification to its authorization in terms of the third petition point, as a consequence of ceasing to operate as a subsidiary of a foreign financial institution.

THIRD.- Through writings presented at the registry office of this Commission on June 17, July 29, October 8, 20, 22 and 27 and November 19, 2025, PENSIONES BANAMEX, S.A. DE C.V., MEMBER OF THE BANAMEX FINANCIAL GROUP , submitted supplementary documentation and fulfilled the requirements issued by this Commission through office letters 06-C00-41100-28265/2025, 06-C00-41100- 37375/2025, 06-C00-41100-41737/2025 and 06-C00-41100-44204/2025 of July 1, September 23, October 10 and 24 of 2025.

FOURTH.- With office letter 06-C00-41100-10693/2025 of April 4, 2025, the General Directorate of Legal Advisory and Intermediaries requested that the General Directorate of Financial Supervision issue an opinion regarding the previously described request, within the scope of its competence, in terms of the powers granted by article 13 of the Internal Regulations of the National Insurance and Sureties Commission, same which was provided favorably by such General Directorate through memoranda DGSF/DVF- 00410/2025 of October 23, 2025 and DGSF/DVF-00419/2025 of November 3, 2025.

FIFTH.- By office letter 06-C00-41100-48334/2025 of November 20, 2025, this Decentralized Body approved the modification of the corporate bylaws of PENSIONES BANAMEX, S.A. DE C.V., MEMBER OF THE BANAMEX FINANCIAL GROUP , in terms of what is indicated in its draft minutes of extraordinary general shareholders' meeting sent as an annex to its writing of October 22, 2025.

SIXTH.- By writing presented at this Commission on December 11, 2025, PENSIONES BANAMEX, S.A. DE C.V., MEMBER OF THE BANAMEX FINANCIAL GROUP , sent the first and second testimony of public deed 108,731 of December 10, 2025, granted before the notary Lic. Roberto Núñez y Bandera, holder of notary number 1 of Mexico City, which contains the protocolization of the minutes of the extraordinary general shareholders' meeting of December 3, 2025, through which, among other things, the modification of articles one, two, six, seven, eleven, fifteen, sixteen, and twenty-two of the corporate bylaws of that insurance institution was approved, in order to eliminate references to controlling subsidiary society, as well as the modification to its social capital to be established at $195,467,752.54 M.N. (One hundred ninety-five million four hundred sixty-seven thousand seven hundred fifty-two pesos 54/100 National Currency); as well as the public deed 108,733 of the same date granted before the faith of said public notary which contains the copy of the corporate bylaws of such insurer.

SEVENTH.- Through office letter 06-C00-41100-54550/2025 of December 15, 2025, this Commission ordered the registration of public deed 108,731 of December 10, 2025, detailed in the previous numeral, in the corresponding Public Registry of Commerce.

EIGHTH.- By writing presented at this Commission on December 19, 2025, PENSIONES BANAMEX, S.A. DE C.V., MEMBER OF THE BANAMEX FINANCIAL GROUP , sent the first and third testimony of public deed number 108,731 of December 10, 2025, registered in the Public Registry of Commerce of this city under electronic commercial folio 1292015 on December 15, 2025.

NINTH.- Through office letter 06-C00-41100-00047/2026 of January 28, 2026, this Commission took note of the registration in the Public Registry of Commerce of deed 108,731 of December 10, 2025.

TENTH.- The Board of Directors of this Commission in Session 251 held on February 26, 2026, taking into consideration the favorable opinion issued by the Authorizations Committee, agreed as follows:

" UNIQUE.- THE AUTHORIZATION under which PENSIONES BANAMEX, S.A. DE C.V., MEMBER OF THE BANAMEX FINANCIAL GROUP operates IS MODIFIED, in order to reflect the reform carried out to its corporate bylaws in order to eliminate any reference to a subsidiary insurance institution.

" ... "

CONSIDERATIONS

FIRST.- That article 369, fraction II, of the Law of Insurance and Surety Institutions provides that it is the competence of the Board of Directors of this Commission to modify the authorizations to organize, operate and function as an insurance institution.

SECOND.- That derived from what was resolved in office letter 06-C00-41100-48334/2025 of November 20, 2025, described in Background Five, it is appropriate to modify the terms of the authorization granted to that insurance institution.

THIRD.- That in accordance with what is stated in Background Ten, the Board of Directors of this Commission, in its Session 251 of February 26, 2026, agreed to modify the authorization granted to that insurance institution.

In view of the foregoing, the following are issued:

RESOLUTIONS

FIRST.- The preamble, articles one, two and three, first paragraph, and fraction III, of the authorization granted to PENSIONES BANAMEX , S.A. DE C.V., MEMBER OF THE CITIBANAMEX FINANCIAL GROUP to organize, operate and function as an insurance institution are modified, as indicated:

" AUTHORIZATION GRANTED BY THE FEDERAL GOVERNMENT TO PENSIONES BANAMEX, S.A. DE C.V., MEMBER OF THE BANAMEX FINANCIAL GROUP FOR ORGANIZING, OPERATING AND FUNCTIONING AS AN INSURANCE INSTITUTION, IN THE FOLLOWING TERMS:

" ARTICLE ONE.- In exercise of the power conferred upon the Federal Government by
article 5 of the repealed General Law of Insurance and Mutual Societies
by the Ministry of Treasury and Public Credit, and which from April 4, 2015, confers upon article 11 of the Law of Insurance and Surety Institutions to the National Insurance and Sureties Commission, PENSIONES BANAMEX, S.A. DE C.V., MEMBER OF THE BANAMEX FINANCIAL GROUP, is authorized to organize, operate and function as an insurance institution.

" ARTICLE TWO.- The insurance institution is authorized to practice life insurance operations with the sole purpose of managing pension insurance derived from social security laws.

" ARTICLE THREE.- The insurance institution shall be subject to the provisions of the Law of Insurance and Surety Institutions, as well as those derived from it, to the General Law of Commercial Societies, to the Law to Regulate Financial Groups, insofar as it relates to its integration into the Banamex Financial Group, to the other norms that, by their nature, are applicable to it, and in particular, to the following bases:

" I.- ...

" II.- ...

" III. The social domicile of the insurance institution shall be Mexico City.

" ARTICLE FOUR.- ... "

SECOND.- The authorization granted to PENSIONES BANAMEX , S.A. DE C.V., MEMBER OF THE CITIBANAMEX FINANCIAL GROUP to organize, operate and function as an insurance institution after the aforementioned modification remains entirely in the following terms:

" AUTHORIZATION GRANTED BY THE FEDERAL GOVERNMENT TO PENSIONES BANAMEX, S.A. DE C.V., MEMBER OF THE BANAMEX FINANCIAL GROUP FOR ORGANIZING, OPERATING AND FUNCTIONING AS AN INSURANCE INSTITUTION, IN THE FOLLOWING TERMS:

" ARTICLE ONE.- In exercise of the power conferred upon the Federal Government by
article 5 of the repealed General Law of Insurance and Mutual Societies
by the Ministry of Treasury and Public Credit, and which from April 4, 2015, confers upon article 11 of the Law of Insurance and Surety Institutions to the National Insurance and Sureties Commission, PENSIONES BANAMEX, S.A. DE C.V., MEMBER OF THE BANAMEX FINANCIAL GROUP, is authorized to organize, operate and function as an insurance institution.

" ARTICLE TWO.- The insurance institution is authorized to practice life insurance operations with the sole purpose of managing pension insurance derived from social security laws.

" ARTICLE THREE.- The insurance institution shall be subject to the provisions of the Law of Insurance and Surety Institutions, as well as those derived from it, to the General Law of Commercial Societies, to the Law to Regulate Financial Groups, insofar as it relates to its integration into the Banamex Financial Group, to the other norms that, by their nature, are applicable to it, and in particular, to the following bases:

" I.
The denomination shall be Pensiones Banamex, S.A. de C.V., Member of the Group Banamex Financial.

" II.
The social capital shall be variable according to the following:

" a.
Pensiones Banamex, S.A. de C.V., Member of the Group Financiero Banamex, must have the minimum paid-up capital equivalent in national currency to the value of the Investment Units determined by the National Insurance and Sureties Commission, with the agreement of its Board of Directors, through general provisions, as established in article 49, first paragraph, of the Law of Insurance and Surety Institutions.

" b.
The variable capital with withdrawal right in no case may exceed the capital paid without withdrawal right.

" III.
The social domicile of the insurance institution shall be Mexico City.

" ARTICLE FOUR.- By its very nature this authorization is non-transferable. "

THIRD.- This office letter must be published in the Official Gazette of the Federation and in two newspapers of wide circulation from the social domicile of PENSIONES BANAMEX , S.A. DE C.V., MEMBER OF THE CITIBANAMEX FINANCIAL GROUP , within the one hundred twenty natural days following the date of its notification, in terms of what is provided in article 11 of the Law of Insurance and Surety Institutions, at the expense of the interested parties .

This is issued based on the information provided by the petitioner contained in the writings sent and is limited exclusively to the modification of the authorization granted to PENSIONES BANAMEX , S.A. DE C.V., MEMBER OF THE CITIBANAMEX FINANCIAL GROUP , in the terms described which, in accordance with the applicable provisions, fall within the competence of this Commission, and does not prejudge any act that said society carries out and which implies prior authorization or approval of other financial, administrative, tax or any other authorities, in terms of current regulations, nor validates the legality or validity of the same in case such authorizations or approvals are not obtained.

Respectfully

Mexico City, March 4, 2026. - The President of the National Insurance and Sureties Commission , Ricardo Ernesto Ochoa Rodríguez .- Rubric.

(R.- 574838)

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