PEMEX Investor Presentation

PEMEX® Strategic Importance to Mexico (2/2) "Although PEMEX's debt is not guaranteed by the Mexican government, our ratings reflect implicit government support given the company's strategic importance to the government and nation."- Moody's • "Our ratings on PEMEX (BBB) reflect our opinion that there is an "almost certain" likelihood of the company receiving extraordinary government support; therefore, we equalize our ratings on PEMEX with those on Mexico."- S&P • "PEMEX's ratings (BBB) reflect its link to the government of Mexico and the company's fiscal importance to the sovereign."- Fitch www.pemex.com 21 C-0022, Pemex Investor Presentation (Sept. 2012)

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