Write a title for this contentDISCLOSURE OF INFORMATION ON ANALYSIS REPORTS OF CASA DE BOLSA VE POR MÁS, SA DE CV, GRUPO FINANCIERO VE POR MÁS, intended for clients PURSUANT TO ARTICLE 47 OF THE General provisions applicable to financial institutions and other persons that provide investment services (the “Provisions”). Juan F. Rich Rena, Rafael Antonio Camacho Peláez, Marisol Huerta Mondragón, Eduardo Lopez Ponce, Alejandro Javier Saldaña Brito, Angel Ignacio Ivan Huerta Monzalvo, Maricela Martínez Álvarez, Gustavo Hernández Ocadiz and Agustín Becerril García, analysts responsible for preparing this Report are available at www.vepormas.com, which exclusively reflects the point of view of the Analysts who have only received remuneration from B×+ for the services rendered for the benefit of B×+’s clients. The variable or extraordinary remuneration they have received is determined based on the profitability of Grupo Financiero B×+ and the individual performance of each Analyst. This document was prepared for (internal use/personalized use) as part of the advisory and Analysis services with which this Issuer is monitored, under no circumstances can it be considered as an objective opinion about the Issuer nor as a general recommendation Therefore, its reproduction or forwarding to a third party that cannot prove its receipt directly by Casa de Bolsa Ve Por Más, SA de CV releases Casa de Bolsa Ve Por Más, SA de CV from any liability derived from its use to make investment decisions. The Companies of Grupo Financiero Ve por Más do not maintain investments above 1% of the value of their investment portfolio at the end of the last three months, in instruments subject to the recommendations. Analysts who cover recommended stocks may keep the recommended stock in their investment portfolio. Keeping the position for a period of at least 3 months. No Director, General Director or Executive of the Grupo Financiero Companies holds any position in the issuers that are the subject of the recommendations. Casa de Bolsa Ve por Más, SA de CV and Banco ve por Más, SA, Multiple Banking Institution, provide advised and non-advised investment services to their individual and corporate clients in Mexico and abroad. It is possible that through its Corporate Finance, Special Accounts, Portfolio Management or other areas, it may provide or in the future provide some service to the Issuing companies that are the subject of our reports. In these cases, the entities that make up Grupo Financiero Ve Por Más receive compensation from said companies for their aforementioned services. The information contained in this report has been obtained from sources that we consider reliable, even in the case of estimates, but it is not possible to make any statement about its accuracy or completeness. The information and, where appropriate, the estimates made, are current on the date of its issuance, and are subject to modifications that, where appropriate and in compliance with current regulations, will indicate their immediate antecedent that implies a change. The entities that make up Grupo Financiero Ve por Más, do not undertake, except as provided in the “Provisions” in terms of serializing the reports, to carry out verifications or updated versions regarding the content of this document. Since this document is formulated as a general or personalized recommendation for the recipients specifically indicated in the document, it may not be reproduced, quoted, disclosed, used, or partially or totally reproduced, even for academic or media purposes, without prior written authorization from any of the entities that make up Grupo Financiero Ve por Más. Opinion Categories and Criteria CATEGORYCRITERION CHARACTERISTICS CONDITION ONSTRATEGY DIFFERENCE VS.IP&C PERFORMANCE FAVORITE Issuer that meets our two basic requirements: 1) Being an extraordinary company; 2) An attractive valuation. The 6 elements that we analyze to identify an extraordinary company are: Growth, Profitability, Sector, Financial Structure, Dividend Policy, and Administration. An attractive valuation occurs when the potential return of the Target Price is higher than the estimate for the IPyC. It is part of our strategy portfolio Great for 5.00 pp ATTENTION! A station that is very close to meeting our two basic requirements: 1) Being an extraordinary company; 2) An attractive valuation. The 6 elements that we analyze to identify an extraordinary company are: Growth, Profitability, Sector, Financial Structure, Dividend Policy, and Administration. An attractive valuation occurs when the potential return of the Target Price is higher than the estimate for the IPyC. May or may not be part of our strategy portfolio In a range equal to or less than 5.00 pp NOT FOR NOW Station that for now does not meet our two basic requirements: 1) Being an extraordinary company; 2) An attractive valuation. The 6 elements that we analyze to identify an extraordinary company are: Growth, Profitability, Sector, Financial Structure, Dividend Policy, and Administration. An attractive valuation occurs when the potential return of the Target Price is higher than the estimate for the IPyC. It is not part of our strategy portfolio Less than 5.00 pp

Home » News » Write a title for this contentDISCLOSURE OF INFORMATION ON ANALYSIS REPORTS OF CASA DE BOLSA VE POR MÁS, SA DE CV, GRUPO FINANCIERO VE POR MÁS, intended for clients PURSUANT TO ARTICLE 47 OF THE General provisions applicable to financial institutions and other persons that provide investment services (the “Provisions”). Juan F. Rich Rena, Rafael Antonio Camacho Peláez, Marisol Huerta Mondragón, Eduardo Lopez Ponce, Alejandro Javier Saldaña Brito, Angel Ignacio Ivan Huerta Monzalvo, Maricela Martínez Álvarez, Gustavo Hernández Ocadiz and Agustín Becerril García, analysts responsible for preparing this Report are available at www.vepormas.com, which exclusively reflects the point of view of the Analysts who have only received remuneration from B×+ for the services rendered for the benefit of B×+’s clients. The variable or extraordinary remuneration they have received is determined based on the profitability of Grupo Financiero B×+ and the individual performance of each Analyst. This document was prepared for (internal use/personalized use) as part of the advisory and Analysis services with which this Issuer is monitored, under no circumstances can it be considered as an objective opinion about the Issuer nor as a general recommendation Therefore, its reproduction or forwarding to a third party that cannot prove its receipt directly by Casa de Bolsa Ve Por Más, SA de CV releases Casa de Bolsa Ve Por Más, SA de CV from any liability derived from its use to make investment decisions. The Companies of Grupo Financiero Ve por Más do not maintain investments above 1% of the value of their investment portfolio at the end of the last three months, in instruments subject to the recommendations. Analysts who cover recommended stocks may keep the recommended stock in their investment portfolio. Keeping the position for a period of at least 3 months. No Director, General Director or Executive of the Grupo Financiero Companies holds any position in the issuers that are the subject of the recommendations. Casa de Bolsa Ve por Más, SA de CV and Banco ve por Más, SA, Multiple Banking Institution, provide advised and non-advised investment services to their individual and corporate clients in Mexico and abroad. It is possible that through its Corporate Finance, Special Accounts, Portfolio Management or other areas, it may provide or in the future provide some service to the Issuing companies that are the subject of our reports. In these cases, the entities that make up Grupo Financiero Ve Por Más receive compensation from said companies for their aforementioned services. The information contained in this report has been obtained from sources that we consider reliable, even in the case of estimates, but it is not possible to make any statement about its accuracy or completeness. The information and, where appropriate, the estimates made, are current on the date of its issuance, and are subject to modifications that, where appropriate and in compliance with current regulations, will indicate their immediate antecedent that implies a change. The entities that make up Grupo Financiero Ve por Más, do not undertake, except as provided in the “Provisions” in terms of serializing the reports, to carry out verifications or updated versions regarding the content of this document. Since this document is formulated as a general or personalized recommendation for the recipients specifically indicated in the document, it may not be reproduced, quoted, disclosed, used, or partially or totally reproduced, even for academic or media purposes, without prior written authorization from any of the entities that make up Grupo Financiero Ve por Más. Opinion Categories and Criteria CATEGORYCRITERION CHARACTERISTICS CONDITION ONSTRATEGY DIFFERENCE VS.IP&C PERFORMANCE FAVORITE Issuer that meets our two basic requirements: 1) Being an extraordinary company; 2) An attractive valuation. The 6 elements that we analyze to identify an extraordinary company are: Growth, Profitability, Sector, Financial Structure, Dividend Policy, and Administration. An attractive valuation occurs when the potential return of the Target Price is higher than the estimate for the IPyC. It is part of our strategy portfolio Great for 5.00 pp ATTENTION! A station that is very close to meeting our two basic requirements: 1) Being an extraordinary company; 2) An attractive valuation. The 6 elements that we analyze to identify an extraordinary company are: Growth, Profitability, Sector, Financial Structure, Dividend Policy, and Administration. An attractive valuation occurs when the potential return of the Target Price is higher than the estimate for the IPyC. May or may not be part of our strategy portfolio In a range equal to or less than 5.00 pp NOT FOR NOW Station that for now does not meet our two basic requirements: 1) Being an extraordinary company; 2) An attractive valuation. The 6 elements that we analyze to identify an extraordinary company are: Growth, Profitability, Sector, Financial Structure, Dividend Policy, and Administration. An attractive valuation occurs when the potential return of the Target Price is higher than the estimate for the IPyC. It is not part of our strategy portfolio Less than 5.00 pp