Office Letter Granting Authorization for the Organization and Operation of an Electronic Payment Funds Institution Named Sí Vale Fintech, S.A. de C.V., Electronic Payment Funds Institution — SHCP — MX

Official Gazette of the Federation: 01/03/2023

OFFICIAL LETTER whereby authorization is granted for the organization and operation of an electronic payment funds institution to be named Sí Vale Fintech, S

On the margin a seal with the National Coat of Arms, which says: United Mexican States.- TREASURY.- Secretariat of Finance and Public Credit.- National Banking and Securities Commission.- Presidency.- Official Letter No.: P078/ 2021.

Subject:

Authorization for the organization and

operation of an electronic payment funds

institution to be named Sí Vale

Fintech, S.A. de C.V., Electronic Payment Funds

Institution.

SÍ VALE MÉXICO, S.A. DE C.V.

Av. Paseo de la Reforma No. 284, Floor 23,

Juárez Neighborhood, P.C. 06600,

Cuauhtémoc, Mexico City.

ATTENTION:

Mr. GERARDO YEPEZ REYNA

Legal Representative

With documents presented on September 25 and 27, 2019, Sí Vale México, S.A. de C.V. requested from

the National Banking and Securities Commission (Commission) authorization to organize and operate an

electronic payment funds institution to be named Sí Vale Fintech, S.A. de C.V., Electronic Payment Funds

Institution, attaching thereto the corresponding supporting information and documentation.

As a background, it should be noted that this Commission prevented Sí Vale México, S.A. de C.V. within the

period established in the Law to Regulate Financial Technology Institutions, in order that it address

various observations and recommendations in relation to its authorization request, granting thereto

the requested extension to this authority.

In relation to the above, Sí Vale México, S.A. de C.V. sent various documentation and information with

the purpose of responding to the prevention referred to above. Likewise, this authority required Sí Vale México,

S.A. de C.V., various complementary documentation and information in order to be in conditions to

address its authorization request, therefore, that society addressed the request for complementary information

and sent updated documentation and information in relation to its file. The society

requested an extension to the resolution period which was granted.

On the matter, the Interinstitutional Committee in session held on April 13, 2021, based

on articles 11 and 35, in relation to articles 22 and 25 of the Law to Regulate Financial Technology Institutions and,

CONSIDERING

FIRST.- That the documentation and information presented by reason of the authorization request

for the organization and operation of the Electronic Payment Funds Institution to be named Sí Vale

Fintech, S.A. de C.V., Electronic Payment Funds Institution, complies with the requirements provided in

article 22, in relation to article 39 of the Law to Regulate Financial Technology Institutions and

with articles 3, 4 and 6 of the General Provisions applicable to Financial Technology

Institutions.

SECOND.- That from the analysis of the documentation and information received it was concluded that from the

legal, financial and operational point of view it is appropriate to grant the requested authorization, therefore the following was adopted:

AGREEMENT

" FIFTH. The members of the Interinstitutional Committee, based on articles 11 and 35, in

relation to article 22 of the Law to Regulate Financial Technology Institutions, approve by

unanimity the authorization for the organization and operation of an Electronic Payment Funds Institution

to be named Sí Vale Fintech, S.A. de C.V. Electronic Payment Funds Institution, in the terms of the

proposal presented to the Committee. "

The previous agreement is adopted without prejudice to the other authorizations that by reason of the described act

must be obtained from the National Banking and Securities Commission, in terms of the applicable provisions,

as well as the exercise of the powers attributed to the Commission itself during the organization process of

Sí Vale Fintech, S.A. de C.V.,

Electronic Payment Funds Institution, in which all

conditions and requirements that the Commission itself imposes on it shall be fulfilled.

The entity whose organization and operation is authorized, will be subject to the following:

BASES

FIRST.-

The name of the society shall be Sí Vale Fintech, S.A. de C.V., Electronic Payment Funds

Institution.

SECOND.-

It shall have its social domicile in Mexico City.

THIRD.-

Its duration shall be indefinite.

FOURTH.-

The amount of its initial share capital shall be the equivalent in national currency to 500,000

Investment Units.

FIFTH.-

Its corporate purpose shall correspond to the activities indicated in article 22 of the Law to

Regulate Financial Technology Institutions and shall carry out the operations and the

provision of the services established in article 25, sections I, III, IV, VII, IX, X and XIII

of the referred Law to Regulate Financial Technology Institutions.

SIXTH.-

The authorization referred to in this official letter is, by its own nature,

non-transferable.

SEVENTH.-

The institution shall be subject to the supervision of the National Banking and Securities Commission and

of the Bank of Mexico, in the exercise of their respective powers, as well as, of the

other competent financial authorities in the terms that the laws provide.

EIGHTH.-

The services consisting of the issuance, administration, redemption and transmission of funds

of electronic payment, that the institution provides by virtue of this authorization, as

well as the other operations it carries out, as well as its organization and operation in

general, shall be subject, in what is not expressly indicated in this official letter, to the Law to

Regulate Financial Technology Institutions, to the rules and general provisions applicable to Financial Technology

Institutions issued by the National Banking and Securities Commission, to the provisions that regarding its operations

issues the Bank of Mexico and to the other norms and provisions in force and those that

are issued in the future by any competent authority, including those relative to

operations with resources of illicit origin and financing of terrorism, which by their

nature result applicable.

In relation to the above exposed, Sí Vale Fintech, S.A. de C.V., Electronic Payment Funds

Institution must observe the terms and attend the obligations contained in Official Letter No. P079/2021

dated April 15 of the current year.

The present, is issued based on articles 16, sections I and XVII of the Law of the Commission

National Banking and Securities and 12 and 41, sections I and III of the Internal Regulations of the Commission National

Banking and Securities.

Sincerely

Mexico City, April 15, 2021. - President, Juan Pablo Graf Noriega.- Signature.

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BY DATE

INDICATORS

Exchange Rate and Rates as of 08/27/2026

DOLLAR

16.9660 UDIS

8.808255 TIIE 28 DAYS

6.7559% TIIE 91 DAYS

6.7931% TIIE 182 DAYS

6.8474% FUNDING TIIE

6.50%

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