Official Letter Granting Authorization for the Organization and Operation of UBR Pagos Mexico, S.A. de C.V., Electronic Payment Funds Institution

DOF: 18/05/2023

OFFICIAL LETTER granting authorization for the organization and operation of an electronic payment funds institution to be named UBR Pagos Mexico, S.A. de C.V., Electronic Payment Funds Institution.

A seal bearing the National Coat of Arms appears on the margin, which reads: United Mexican States.- TREASURY.- Ministry of Finance and Public Credit.- National Banking and Securities Commission.- Presidency.- Official Letter No.: P106/ 2021.

Subject:

Authorization for the organization and operation of

an electronic payment funds institution to

be named UBR Pagos Mexico, S.A. de C.V.,

Electronic Payment Funds Institution.

UBER, B.V.

Torre Virreyes Building, Pedregal Avenue No. 24, 24th floor,

Molino del Rey Neighborhood, Postal Code 11040,

Miguel Hidalgo, Mexico City.

TO:

C. JESÚS MARTÍNEZ IGLESIAS

Legal Representative

With a written submission presented on September 24, 2019, Uber, B.V. (UBER) requested authorization from the National Banking and Securities Commission (Commission) for the organization and operation of an electronic payment funds institution to be named UBR Pagos Mexico, S.A. de C.V., Electronic Payment Funds Institution, attaching the corresponding supporting information and documentation.

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

In relation to the above, UBER submitted various documents and information to respond to the aforementioned notice. Likewise, this authority required UBER to provide various complementary documents and information to be in a position to address its authorization request, so that company attended to the request for complementary information and sent updated documentation and information regarding its file. The company requested an extension of the resolution deadline, which was granted.

Regarding this matter, the Interinstitutional Committee, in a session held on May 13, 2021, based on articles 11 and 35, in relation to articles 22 and 25 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 Funds Institution to be named UBR Pagos Mexico, 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 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 received documentation and information, it was concluded that from the legal, financial, and operational standpoint, the requested authorization is appropriate, so the following was adopted:

AGREEMENT

"THIRD.

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 Funds Institution to be named UBR Pagos Mexico, S.A. de C.V., Electronic Payment Funds Institution, under the terms of the proposal presented to the Committee."

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

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

BASES

FIRST.- The name of the company will be UBR Pagos Mexico, S.A. de C.V., Electronic Payment Funds Institution.

SECOND.- It will have its social domicile in Mexico City.

THIRD.- Its duration will be indefinite.

FOURTH.- The amount of its initial social capital will be $10,000,000.00 (ten million pesos 00/100 M.N.).

FIFTH.- Its corporate purpose will correspond to the activities indicated in article 22 of the Law for the Regulation of Financial Technology Institutions and it will carry out the operations and provision of services established in article 25, sections I, III, IV, VII, VIII, IX, X and XIII of the aforementioned 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 attributes, as well as other competent financial authorities in accordance with what laws provide.

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, just like 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 general provisions applicable to Financial Technology Institutions issued by the National Banking and Securities Commission, to the provisions regarding its operations issued by the Bank of Mexico and to other current and future norms and provisions 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, UBR Pagos Mexico, S.A. de C.V., Electronic Payment Funds Institution must observe the terms and attend to the obligations contained in Official Letter No. P107/2021 dated May 13 of the current year.

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

Respectfully,

Mexico City, May 13, 2021. - President, Juan Pablo Graf Noriega. - Initials.

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