Investor Presentaiton

Mexican Economy • • • • SOLID MIX OF SECTORS 1 GDP 2022: 3.0% GDP 2023F: 3.2% GDP 2024F: 1.6% Services and consumption are increasingly contributing to the domestic economy's recovery The labour market and remittances are resilient, supporting strong consumption Economic activity has beaten consensus so far this year, which has led to continuous upward revisions of GDP forecasts Although trade has moderated, better than expected U.S. activity has helped exports Nearshoring optimism provides opportunities to specific exports- oriented sectors and regions. Some incipient positive signs in investment are showing up in Q2 CONTRIBUTIONS TO MEXICAN GDP GROWTH 3,4 MEXICAN Q1/23 GDP BY INDUSTRY 2,3 16.4% 6.0% Health & Education Finance, Insurance, & Real Estate 18.7% 14.7% Other 3.3% Natural Resources 6.8% Transportation & Warehousing 2.1% Professional, Scientific, & Technical Services 18.76T, MXN2013 SAAR 3.7% Public Administration Wholesale & Retail Trade 16.4% Manufacturing 5.9% Mining and Oil & Gas Extraction 5.9% Construction TOP TRADING PARTNERS 5 Other* Inventories Government Real GDP Net Exports Investment Consumption 25 y/y % change 20 15 10 5 0 -5 -10 -15 -20 18 19 20 21 22 Others 22% Germany. 2% South Korea 3% Canada 4% China 11% United States 58% 1 Sources: Scotiabank Economics, Bloomberg, as of August 11, 2023; 2 Q2-2023 real GDP growth 3.7% y/y. Industry GDP breakdown is not yet available for Q2-2023; 3 Sources: Scotiabank Economics, Haver Analytics; 4Q2-2023 real GDP growth 3.7% y/y. National accounts breakdown not yet available for Q2-2023; 5 Trade data updated as of Q4-2022 59 65

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