Official Letter Authorizing the Organization and Operation of Liftoff, S.A. de C.V., Electronic Payment Fund Institution

DOF: 12/05/2022

OFFICIAL LETTER granting authorization for the organization and operation of an electronic payment fund institution to be named Liftoff, S.A. de C.V., Electronic Payment Fund Institution.

A seal with the National Coat of Arms appears on the margin, stating: United Mexican States.- TREASURY.- Ministry of Finance and Public Credit.- National Banking and Securities Commission.- Presidency.- Official Letter No.: P151/ 2021.

Subject:

Authorization for the organization and operation of

an electronic payment fund institution to

be named Liftoff, S.A. de C.V., Electronic Payment

Fund Institution.

LIFTOFF, S.A. DE C.V.

Plan de San Luis No. 101 Poniente,

Col. Coecillo, C.P. 37460,

León, Guanajuato.

TO:

C. RENÉ VÁSQUEZ PÉREZ

Legal Representative

With a written submission presented on September 25, 2019, Liftoff, S.A. de C.V. (Liftoff or the company) requested authorization from the National Banking and Securities Commission (Commission) to organize and operate as an Electronic Payment Fund Institution to be named Liftoff, S.A. de C.V., Electronic Payment Fund Institution, attaching the corresponding supporting information and documentation.

As background, it should be noted that this Commission issued a notice to Liftoff within the timeframe established in the Law for the Regulation of Financial Technology Institutions, so that it addressed various observations and recommendations regarding its authorization request, granting the extension requested from this authority.

Regarding the above, Liftoff submitted various documents and information in order to respond to the aforementioned notice. Likewise, this authority required Liftoff to provide various complementary documents and information to be in a position to address its authorization request, so that the company complied with the request for complementary information and sent updated documentation and information regarding its file. The company requested an extension of the resolution deadline and an extension for the processing, which were granted.

On this matter, the Interinstitutional Committee in the session held on June 7, 2021, based on articles 11 and 35, in relation to article 22 of the Law for the Regulation of Financial Technology Institutions, and

CONSIDERING

FIRST.- That the documentation and information presented in connection with the authorization request for the organization and operation of the electronic payment fund institution to be named Liftoff, S.A. de C.V., Electronic Payment Fund Institution, complies with the requirements provided in article 22, in relation to article 39 of the Law for the Regulation of 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, the requested authorization is appropriate, so 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 for the Regulation of Financial Technology Institutions, unanimously approve the authorization for the organization and operation of an Electronic Payment Fund Institution to be named Liftoff, S.A. de C.V., Electronic Payment Fund Institution, under the terms of the proposal presented to the Committee."

The above agreement is adopted without prejudice to the other authorizations that, in connection with the act described, must be obtained from the National Banking and Securities Commission, in accordance with the applicable provisions, as well as the exercise of the powers attributed to the Commission itself during the organization process of Liftoff, S.A. de C.V., Electronic Payment Fund Institution, in which all conditions and requirements imposed by the Commission itself must be met.

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

BASES

FIRST.-

The name of the company will be Liftoff, S.A. de C.V., Electronic Payment

Fund Institution.

SECOND.-

It will have its social domicile in León, Guanajuato.

THIRD.-

Its duration will be indefinite.

FOURTH.-

The amount of its initial social capital will be $21,743,736.00 (twenty-one million seven hundred forty-three thousand seven hundred thirty-six pesos 00/100 M.N.).

FIFTH.-

Its corporate purpose will correspond to the performance of all activities in national currency contemplated in articles 22 and 25, fractions I, IV, VII, VIII, IX, X and XIII of the Law for the Regulation of Financial Technology Institutions.

SIXTH.-

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

non-transferable.

SEVENTH.-

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

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

other competent financial authorities in the terms established by law.

EIGHTH.-

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

electronic payment funds 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, will be subject, in what is not expressly stated in this official letter, to the Law for

the Regulation of Financial Technology Institutions, to the rules and provisions of a general

nature applicable to Financial Technology Institutions issued by the Commission

National Banking and Securities Commission, to the provisions regarding its operations

issued by 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 related to

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

nature are applicable.

In relation to the above, Liftoff must observe the terms and comply with the obligations

contained in official letter P152/2021 dated June 10, 2021.

This is issued based on articles 16, fractions I and XVII of the Law of the National Banking and Securities Commission and 12 and 41, fraction I of the Internal Regulations of the National Banking and Securities Commission.

Respectfully,

Mexico City, June 10, 2021.- President, Juan Pablo Graf Noriega.- Signature.

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