Foreign Account Tax Compliance Act (FATCA) – Update

1. Foreign Account Tax Compliance Act (FATCA) – Update Intergovernmental Agreement México – U.S.A. to improve International Tax Compliance with respect to FATCA April, 2013

2. Why is relevant the fulfillment of FATCA for the Mexican Stock Exchange Market?? MonthlyAverageSecuritiesCustody Vs. MonthlyBMV’sOperability International QuotationSystem In addition to foreign issuers, local titles in foreign investors hands accumulate more than $ 500 billion dollars

3. Foreign Account Tax Compliance Act (FATCA) – UpdateIntergovernmental Agreement México – U.S.A. to improve International Tax Compliance with respect to FATCA On November 19, 2012, the Department of the Treasury of the United States of America (the “U.S. Treasury Department”) and the Ministry of Finance and Public Credit of México (“S.H.C.P.”) signed an Intergovernmental Agreement to improve international tax compliance including with respect to FATCA, based on domestic reporting and reciprocal automatic exchange and subject to the confidentiality protection. This agreement is related to IGA Model I, "Model of Intergovernmental Agreement with Reciprocity" which was released by the U.S. Treasury Department in July 2012, and includes the following characteristics:

4. Foreign Account Tax Compliance Act (FATCA) – UpdateIntergovernmental Agreement México – U.S.A. to improve International Tax Compliance with respect to FATCA Date of Implementation & Coverage Date of Implementation: The Agreement is in effect from January 1, 2013 Coverage: The Agreement covers all financial institutions that are residents of Mexico, including branches from Foreign Financial Institutions. In this respect if an entity is considered as a "Reporting Mexican Financial Institution" under FATCA, will be required to be registered with the National Tax Authority as well as with the IRS and to and comply with all the requirements (identification, data collection and report, unless it can be identified as a “Non-Reporting Mexican Financial Institution”. In the event that a "Reporting Mexican Financial Institution" fails to comply with its obligations under the IGA Agreement, the U.S. authorities will notify this situation to the authorities of S.H.C.P. for the purposes to implement the Mexican laws that are in force. In the event that after 18 months, the Financial Institution continue without fulfilling their obligations, will be considered a "Non-Participating Institution" and will be subject to 30% withholding

5. Foreign Account Tax Compliance Act (FATCA) – UpdateIntergovernmental Agreement México – U.S.A. to improve International Tax Compliance with respect to FATCA Mexican Financial Institution not subject to Report According to Annex II of the Agreement, the Mexican Financial Institutions that are not Subject to Report are: Exempt Beneficial Owners Deemed-CompliantFinancialInstitutions • The Mexican Government and any of its political subdivisions, or any wholly owned agency or instrumentality of any one or more of the foregoing, including: • Nacional Financiera, S.N.C (NAFIN) • Banco Nacional de Comercio Exterior, S.N.C. (BANCOMEXT) • Banco Nacional de Obras y Servicios Públicos, S.N.C. (BANOBRAS) • Sociedad Hipotecaria Federal, S.N.C. (SHF) • Financiera Rural Any exempt organization resident of Mexico entitled to the benefits provided in Article 22 of the Convention between the Government of the United States of America and the Government of the United Mexican States for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income and paragraph 17 of its Protocol A Fideicomiso (trust), to the extent that the trustee of the Fideicomiso is a Reporting Mexican Financial Institution A Fideicomiso (trust) that serves solely as escrow for a debt or purchase obligation of the settler. Central Bank Banco de México orany of itssubsidiaries A Fideicomiso (trust) the assets of which consist solely of real property. In the case of an Investment Entity that is a collective investment vehicle regulated under the laws of Mexico. Pension Funds

6. Foreign Account Tax Compliance Act (FATCA) – UpdateIntergovernmental Agreement México – U.S.A. to improve International Tax Compliance with respect to FATCA Reporting, Due Diligence and Withholding Requirements The information that each of the financial institutions must obtain and report under the Agreement IGA is practically the same as FATCA. The only difference now is that reporting will now be made to the Mexican Tax Authority instead of the IRS • Each Financial Institution shall identify "U.S. Reportable Accounts” (Financial Account maintained by a Reporting Mexican Financial Institution and held by one or more Specified U.S. Persons or by a Non-U.S. Entity with one or more Controlling Persons that is a Specified U.S. Person) and “Nonparticipating Financial Institution Accounts” • The IGA Agreement includes an Appendix I, which basically provides to procedures that financial institutions must follow to carry out the due diligence of financial accounts held in the Institution. • Accounts Not Required to Be Reviewed, Identified, or Reported: • Preexisting Individual Accounts with a balance or value that does not exceed USD $50,000 dollars as of December 31, 2013 (in the case of insurance companies a balance less of USD $250,000 per year). • Preexisting Entity Accounts with account balances that do not exceed USD $250,000 as of December 31, 2013 Under the IGA Agreement, each of the financial institutions in the Mexico, will be considered as “Deemed Compliant" and therefore will not be subject to withholding as provided in Section 1471 of the U.S. Internal Revenue Code (which requires a withholding on payments to foreign financial institutions) whether they meet several requirements provided therein.

7. Foreign Account Tax Compliance Act (FATCA) – UpdateIntergovernmental Agreement México – U.S.A. to improve International Tax Compliance with respect to FATCA Time and Manner of Exchange of Information 1° January July 15th, 2013 October 15th, 2013 30 Sept. 2015 January 1st., 2014 LowValueAccounts HighValueAccounts Fecha Inicio de Reportes Fechas Máxima para identificación

8. Foreign Account Tax Compliance Act (FATCA) – UpdateIntergovernmental Agreement México – U.S.A. to improve International Tax Compliance with respect to FATCA Information to be Exchange 1° Enero

9. FATCA – BMV Project • Activitieshavebeen done Implementation of FATCA – BMV Project Establishment of BMV´s Interdiciplinary Group Identification and Classification of the BMV Group’s Companies involved with FATCA. Analysis in the effects of FATCA Regulations in each of the BMV’s Companies Inventory, Analysis, Evaluation and Identification of Systems, Applications, Policies and Manuals affected by FATCA Regulations Entry into force FATCA Portal • On going Activities Redesign of processes and Implementation of the IGA Agreement into the BMV Group operations Preparation of information and Responsible Officer for the entire BMV Group to obtain the GIIN Fill out the Registration in the FATCA Portal

10. ¡¡¡THANK YOU!!! April, 2013