Earnings release
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FIBRA Macquarie México 1 FIBRA MACQUARIE MÉXICO REPORTS THIRD QUARTER 2026 RESULTS ► Record quarterly consolidated NOI of US$62.4 million, up 5.2% YoY ► Reaffirms FY26 cash distribution guidance of Ps. 2.45 per certificate ► Ranked #1 in the Mexico industrial GRESB peer group for both Standing Investments and Development, with record scores of 80.6 and 95.4 MEXICO CITY, October 22nd, 202 6 – FIBRA Macquarie México ( “FIBRAMQ”) (BMV: FIBRAMQ12) announced its financial and operating results for the third quarter ended September 30, 2026. THIRD QUARTER 2026 HIGHLIGHTS • Record quarterly consolidated revenues of US$75.5 million, up 6.9% YoY • Record quarterly industrial NOI of US$53.4 million, up 4.8% YoY • Record quarterly EBITDA of US$55.8 million, up 3.0% YoY • Record quarterly Same-Store industrial NOI of US$52.8 million, up 3.4% YoY • Industrial total leasing volume of approximately 1.6 million square feet • Industrial portfolio rental rates up 5.6% YoY; Retail portfolio rental rates up 3.8% YoY TRANSACTION UPDATE Following the completion of FIBRA Monterrey’s (“FIBRA MTY”) tender and exchange offer in 2Q26, and the Internalization Agreement signed with Macquarie Asset Management México, S.A. de C.V. (“Macquarie”), FIBRAMQ reached the following milestones: ► August 11, 2026: FIBRAMQ holders approved the resignation of Macquarie as manager and the appointment of Administrador FIBRA MTY, S.C. as substitute manager, effective upon closing of the internalization. ► September 30, 2026: FIBRA MTY launched a public tender and exchange offer for up to 100% of the real estate trust certificates (certificados bursátiles fiduciarios inmobiliarios, or “CBFIs”) of FIBRAMQ that it does not already own. ► October 13, 2026: FIBRAMQ’s Technical Committee issued and published its opinion on the offer.
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2 FINANCIAL AND OPERATING RESULTS Consolidated Portfolio FIBRAMQ’s consolidated 3Q26 results were as follows: TOTAL PORTFOLIO (millions of Pesos, unless otherwise stated) (millions of Dollars, unless otherwise stated) 3Q26 3Q25 Variance 3Q26 3Q25 Variance Weighted Average CBFIs (millions) 797.3m 797.3m – 797.3m 797.3m – Net Operating Income (inc. SLR) Ps. 1,073.8m Ps. 1,115.8m (3.8%) US$ 62.2m US$ 59.8m 4.0% Net Operating Income (exc. SLR) Ps. 1,076.0m Ps. 1,105.4m (2.7%) US$ 62.4m US$ 59.3m 5.2% EBITDA Ps. 963.0m Ps. 1,011.1m (4.8%) US$ 55.8m US$ 54.2m 3.0% Funds From Operations (FFO) Ps. 641.5m Ps. 705.2m (9.0%) US$ 37.2m US$ 37.8m (1.7%) FFO per certificate Ps. 0.8046 Ps. 0.8845 (9.0%) US$ 0.0466 US$ 0.0474 (1.7%) Adjusted Funds From Operations (AFFO)1 Ps. 495.2m Ps. 554.1m (10.6%) US$ 28.7m US$ 29.7m (3.4%) AFFO per certificate1 Ps. 0.6211 Ps. 0.6950 (10.6%) US$ 0.0360 US$ 0.0373 (3.4%) NOI Margin (inc. SLR) 82.6% 84.1% (150 bps) 82.6% 84.1% (150 bps) NOI Margin (exc. SLR) 82.6% 83.9% (134 bps) 82.6% 83.9% (134 bps) AFFO Margin 38.1% 41.7% (367 bps) 38.1% 41.7% (367 bps) GLA (’000s square feet) EOP 36,810 36,506 0.8% 36,810 36,506 0.8% GLA (’000s sqm) EOP 3,420 3,392 0.8% 3,420 3,392 0.8% Leased GLA (’000s sqft) EOP 34,082 34,570 (1.4%) 34,082 34,570 (1.4%) Leased GLA (’000s sqm) EOP 3,166 3,212 (1.4%) 3,166 3,212 (1.4%) Occupancy EOP 92.6% 94.7% (211 bps) 92.6% 94.7% (211 bps) Average Occupancy 92.7% 94.6% (194 bps) 92.7% 94.6% (194 bps) 1) AFFO excludes transaction-related costs associated with the ongoing FIBRA MTY transaction, as well as certain non -recurring expenses incurred with a Tijuana property.
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3 Industrial Portfolio The following table summarizes 3Q26 results for FIBRAMQ’s industrial portfolio: INDUSTRIAL PORTFOLIO (millions of Pesos, unless otherwise stated) (millions of Dollars, unless otherwise stated) 3Q26 3Q25 Variance 3Q26 3Q25 Variance Net Operating Income (inc. SLR) Ps. 916.7m Ps. 961.0m (4.6%) US$ 53.1m US$ 51.5m 3.1% Net Operating Income (exc. SLR) Ps. 920.8m Ps. 949.3m (3.0%) US$ 53.4m US$ 50.9m 4.8% NOI Margin (inc. SLR) 86.0% 87.0% (97 bps) 86.0% 87.0% (97 bps) NOI Margin (exc. SLR) 86.1% 86.9% (78 bps) 86.1% 86.9% (78 bps) GLA (’000s square feet) EOP 32,322 31,874 1.4% 32,322 31,874 1.4% GLA (’000s sqm) EOP 3,003 2,961 1.4% 3,003 2,961 1.4% Leased GLA (’000s sqft) EOP 29,933 30,236 (1.0%) 29,933 30,236 (1.0%) Leased GLA (’000s sqm) EOP 2,781 2,809 (1.0%) 2,781 2,809 (1.0%) Occupancy EOP 92.6% 94.9% (225 bps) 92.6% 94.9% (225 bps) Average Occupancy 92.7% 94.8% (208 bps) 92.7% 94.8% (208 bps) Average monthly rent per leased (US$/sqm) EOP US$ 6.92 US$ 6.55 5.6% US$ 6.92 US$ 6.55 5.6% Customer Retention LTM 72.0% 83.1% (1,115 bps) 72.0% 83.1% (1,115 bps) Weighted Avg Lease Term Remaining (years) EOP 2.8 3.2 (11.9%) 2.8 3.2 (11.9%) FIBRAMQ’s industrial portfolio delivered quarterly NOI (excl. SLR) of US$53.4 million in 3Q26, a 4.8% annual increase in US Dollar terms. Total industrial leasing activity comprised approximately 1. 6 million square feet of GLA, including approximately 422 thousand square feet of new leases and approximately 1. 2 million square feet of renewal leases, representing a retention rate of 72.0% on a trailing-twelve-month basis.
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4 Retail Portfolio The following table summarizes the 3Q26 results for FIBRAMQ’s proportionally combined retail portfolio: RETAIL PORTFOLIO 3Q26 3Q25 Variance Net Operating Income (incl. SLR) Ps. 157.0m Ps. 154.8m 1.4% Net Operating Income (excl. SLR) Ps. 155.2m Ps. 156.0m (0.5%) NOI Margin (%, inc. SLR) 66.8% 69.5% (265 bps) NOI Margin (%, exc. SLR) 66.6% 69.6% (307 bps) GLA (’000s square feet) EOP 4,488 4,632 (3.1%) GLA (’000s sqm) EOP 417 430 (3.1%) Leased GLA (’000s sqft) EOP 4,150 4,334 (4.3%) Leased GLA (’000s sqm) EOP 386 403 (4.3%) Occupancy EOP 92.5% 93.6% (111 bps) Average Occupancy 92.5% 93.5% (95 bps) Average monthly rent (Ps.) per leased sqm EOP $200.49 $193.19 3.8% Customer retention LTM 73.1% 75.3% (221 bps) Weighted Avg Lease Term Remaining (years) EOP 4.0 3.2 22.8% FIBRAMQ signed 60 new and renewal retail leases during the quarter, totaling approximately 12 thousand square meters of GLA. The retail portfolio recorded LTM customer retention of 73.1%. Lease Rental Rate Summary Based on annualized base rents, 75.5% of leases in FIBRAMQ’s consolidated portfolio are linked to either Mexican or U.S. CPI, representing an annual increase of 394 bps. In the industrial portfolio, FIBRAMQ achieved a weighted average positive releasing spread of 17.5% in 3Q26, and 14.8% over the trailing twelve-month period. For further details about FIBRA Macquarie’s Third Quarter 202 6 results, please refer to the Supplementary Information materials located at BMV Filings (fibramacquarie.com). CAPITAL ALLOCATION FIBRAMQ continues to pursue a strategy of investing in and developing Class A industrial assets in core markets that demonstrate strong performance and a positive economic outlook. For further details regarding projects in process and recently delivered projects, please refer to the Supplementary Information materials located at BMV Filings (fibramacquarie.com). BALANCE SHEET As of September 30, 2026, FIBRAMQ had US$1,316.5 million of debt outstanding and in excess of US$575.4 million available on its undrawn committed and uncommitted revolving credit facilities, as
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5 well as US$99.0 million of unrestricted cash on hand. FIBRAMQ’s indebtedness is 88.6% fixed rate, with 3.3 years of weighted average tenor remaining. As of September 30, 2026, FIBRAMQ’s CNBV regulatory debt to total asset ratio was 33.8% and debt service coverage ratio was 5.5x. SUSTAINABILITY As of September 30, 2026, FIBRA Macquarie’s industrial green building certification coverage under its sustainability-linked financing framework represented 46.0% of industrial GLA. The sustainability and green financing linked portion of drawn debt stands at 76.0%. FIBRA Macquarie achieved its best-ever results in the 2026 GRESB assessment, ranking first in its peer group in both the Standing Investments and Development benchmarks. The Standing Investments score rose 0.5 points to 80.6 (from 80.1 last year and 69.3 in 2024), placing it 1st of 11 in its Americas listed industrial peer group, while the Development score improved 1.6 points to 95.4 (from 93.8), earning a 4-star GRESB Rating and a 1st place ranking among 7 Mexican industrial peers. DISTRIBUTION Distribution payments will continue to be subject to approval by FIBRAMQ's Manager, stable market conditions, and prudent capital management by FIBRAMQ. FY26 GUIDANCE Cash Distribution FIBRAMQ reaffirms its FY26 cash distribution guidance of Ps. 2.45 per certificate. Payment of distributions remains subject to approval by FIBRAMQ's Manager, stable market conditions, and prudent management of FIBRAMQ's capital. Outstanding certificates FIBRA Macquarie had 797,311,397 outstanding certificates as of September 30, 2026. WEBCAST AND CONFERENCE CALL Due to the ongoing Transaction with FIBRA MTY, FIBRAMQ will not host a webcast and a conference call in relation to this quarterly earnings result.
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6 About FIBRA Macquarie FIBRA Macquarie México (FIBRAMQ) (BMV: FIBRAMQ12) is a real estate investment trust (fideicomiso de inversión en bienes raíces), or FIBRA, listed on the Mexican Stock Exchange (Bolsa Mexicana de Valores) targeting industrial, retail and office real estate opportunities in Mexico, with a primary focus on stabilized income -producing properties. FIBRA Macquarie's portfolio consists of 246 industrial properties and 17 retail properties , located in 20 cities across 16 Mexican states as of September 30, 2026. Nine of the retail properties are held through a 50/50 joint venture. For additional information about FIBRA Macquarie, please visit www.fibramacquarie.com. Cautionary Note Regarding Forward-looking Statements This release may contain forward -looking statements. Forward -looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ significantly from these forward-looking statements and we undertake no obligation to update any forward-looking statements. Other than Macquarie Bank Limited ABN 46 008 583 542 (“Macquarie Bank”), any Macquarie Group entity noted in this document is not an authorized deposit -taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia). The obligations of these other Macquarie Group entities do not represent deposits or liabilities of Macquarie Bank. Macquarie Bank does not guarantee or otherwise provide assurance in respect to the obligations of these other Macquarie Group entities. In addition, if this document relates to an investment (a) the investor is subject to investment risk including possible delays in repayment and loss of income and principal invested, and (b) none of Macquarie Bank or any other Macquarie Group entity guarantees any particula r rate of return on or the performance of the investment, nor do they guarantee repayment of capital in respect to the investment. Contacts Investor relations contact: General enquiries Tel: +52 (55) 9178 7700 Nikki Sacks Tel: +1 203 682 8263 Email: nikki.sacks@icrinc.com For press queries, please contact: FleishmanHillard México Contact: Arturo García Arellano Tel: +52 55 1452 5675 Email: arturo.garcia@omc.com
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FIBRA MACQUARIE MÉXICO AND ITS CONTROLLED ENTITIES CONDENSED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION AS OF SEPTEMBER 30, 2026 (UNAUDITED) AND DECEMBER 31, 2025 CURRENCY AMOUNTS EXPRESSED IN THOUSANDS OF MEXICAN PESOS (UNLESS OTHERWISE STATED ) Sep 30, 2026 Dec 31, 2025 $’000 $’000 Current assets Cash and cash equivalents 1,729,270 2,087,228 Trade and other receivables, net 97,592 254,436 Other assets 238,460 178,241 Total current assets 2,065,322 2,519,905 Non-current assets Restricted cash 15,016 15,121 Investment properties 61,548,056 58,785,946 Equity-accounted investees 1,926,581 1,670,069 Goodwill 837,330 837,330 Other assets 256,898 264,281 Derivative financial instruments 571,349 - Total non-current assets 65,155,230 61,572,747 Total assets 67,220,552 64,092,652 Current liabilities Trade and other payables 1,243,023 838,576 Interest-bearing liabilities - 1,347,237 Tenant deposits 122,850 112,555 Other liabilities 6,804 6,274 Total current liabilities 1,372,677 2,304,642 Non-current liabilities Trade and other payables 610,431 171 Interest-bearing liabilities 22,750,063 19,305,478 Tenant deposits 448,573 380,559 Derivative financial instruments - 67,024 Other liabilities 3,124 6,352 Deferred income tax 23,234 23,234 Total non-current liabilities 23,835,425 19,782,818 Total liabilities 25,208,102 22,087,460 Net assets 42,012,450 42,005,192 Equity Contributed equity 18,506,916 18,506,916 Retained earnings 22,888,741 22,899,883 Total controlling interest 41,395,657 41,406,799 Non-controlling interest 616,793 598,393 Total equity 42,012,450 42,005,192
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FIBRA MACQUARIE MÉXICO AND ITS CONTROLLED ENTITIES CONDENSED INTERIM CONSOLIDATED STATEMENTS OF INCOME FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2026 (UNAUDITED) AND 2025 CURRENCY AMOUNTS EXPRESSED IN THOUSANDS OF MEXICAN PESOS (UNLESS OTHERWISE STATED) *Real Estate Trust Certificates (Certificados Bursátiles Fiduciarios Inmobiliarios or “CBFI”). Sep 30, 2026 Sep 30, 2025 Sep 30, 2026 Sep 30, 2025 $’000 $’000 $’000 $’000 Property related income 1,233,811 1,259,672 3,661,399 3,815,349 Property related expenses (282,179) (265,480) (820,786) (751,691) Property income after related expenses 951,632 994,192 2,840,613 3,063,658 Management fees (76,641) (63,314) (213,812) (188,053) Transaction related expenses (19,066) (370) (253,914) (4,366) Professional, legal and other expenses (35,188) (45,267) (120,056) (123,027) Total operating expenses (130,895) (108,951) (587,782) (315,446) Other income (36) - 3,956 - 1,135,437 (1,439,397) (272,312) (5,291,056) Unrealized revaluation (loss)/gain on investment properties measured at fair value (685,263) (553,509) 22,823 (953,278) Finance costs (314,443) (327,052) (912,716) (994,834) Interest income 14,296 36,863 57,380 108,816 Share of profit from equity-accounted investees 60,361 61,637 184,274 151,746 Net foreign exchange (loss)/gain (508,992) 541,890 2,526 1,948,298 (Loss)/gain on disposal of investment property (91) 57,422 (348) 57,422 Goodwill written off in respect of property disposed - (4,285) - (4,285) Net unrealized gain/(loss) on interest rate swaps 392,358 (22,622) 638,373 (288,111) 914,364 (763,812) 1,976,787 (2,517,070) Total consolidated profit/(loss) for the period attributable to: Controlling interest 888,508 (761,458) 1,947,251 (2,485,184) Non-controlling interest 25,856 (2,354) 29,536 (31,886) 914,364 (763,812) 1,976,787 (2,517,070) Profit/(loss) per CBFI* Basic and diluted profit/(loss) per CBFI (pesos) 1.11 (0.96) 2.44 (3.12) Total profit/(loss) for the period Net unrealized foreign exchange gain/(loss) on investment properties 9 months ended3 months ended Consolidated profit/(loss) for the period
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FIBRA MACQUARIE MÉXICO AND ITS CONTROLLED ENTITIES CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2026 (UNAUDITED) AND 2025 CURRENCY AMOUNTS EXPRESSED IN THOUSANDS OF MEXICAN PESOS (UNLESS OTHERWISE STATED) Total non-controlling interest $’000 $’000 $’000 $’000 $’000 Total equity at January 1, 2025 18,506,916 27,281,518 45,788,434 519,304 46,307,738 Total loss for the period - (2,485,184) (2,485,184) (31,886) (2,517,070) Total loss for the period - (2,485,184) (2,485,184) (31,886) (2,517,070) Transactions with equity holders in their capacity as equity holders: - Distributions to CBFI holders - (1,395,294) (1,395,294) - (1,395,294) - Distributions to non-controlling interest - - - (14,661) (14,661) Total transactions with equity holders in their capacity as equity holders - (1,395,294) (1,395,294) (14,661) (1,409,955) Total equity as of September 30, 2025 18,506,916 23,401,040 41,907,956 472,757 42,380,713 Total equity at January 1, 2026 18,506,916 22,899,883 41,406,799 598,393 42,005,192 Total profit for the period - 1,947,251 1,947,251 29,536 1,976,787 Total profit for the period - 1,947,251 1,947,251 29,536 1,976,787 Transactions with equity holders in their capacity as equity holders: - Distributions to CBFI holders - (1,953,493) (1,953,493) - (1,953,493) - Distributions to non-controlling interest - - - (22,540) (22,540) - Equity (diluted)/increase in non-controlling interest - (9,693) (9,693) 9,693 - - Equity contributed from non-controlling interest - - - 1,711 1,711 - Equity contributed from controlling interest - 4,793 4,793 - 4,793 Total transactions with equity holders in their capacity as equity holders - (1,958,393) (1,958,393) (11,136) (1,969,529) Total equity as of September 30, 2026 18,506,916 22,888,741 41,395,657 616,793 42,012,450 Contributed equity Total controlling interest Retained earnings Total
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FIBRA MACQUARIE MÉXICO AND ITS CONTROLLED ENTITIES CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CASH FLOW FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2026 (UNAUDITED) AND 2025 CURRENCY AMOUNTS EXPRESSED IN THOUSANDS OF MEXICAN PESOS (UNLESS OTHERWISE STATED) *The depreciation is in respect of the right -of-use assets held at the Group's vertically integrated internal platform level, calculated in accordance with IFRS16. **Includes restricted cash balance of $15.0 million (2025: $15.4 million) as of September 30, 2026. Sep 30, 2026 Sep 30, 2025 $’000 $’000 Inflows / (Outflows) Inflows / (Outflows) Operating activities: Profit/(loss) for the period 1,976,787 (2,517,070) Adjustments for: Net unrealized foreign exchange loss on investment properties 272,312 5,291,056 Unrealized revaluation (gain)/loss on investment properties measured at fair value (22,823) 953,278 Goodwill written off in respect of properties disposed - 4,285 Straight line rental income adjustment 2,639 (229) Loss/(gain) on disposal of investment property 348 (57,422) Tenant improvement amortization 93,646 95,702 Leasing expense amortization 93,440 93,355 Right-of-use assets depreciation* 3,463 3,428 Interest income (57,380) (108,816) Impairment on trade receivables 75,557 65,102 Net unrealized foreign exchange gain on monetary items (14,023) (2,325,035) Finance costs 912,716 994,834 Share of profit from equity-accounted investees (184,274) (151,746) Net unrealized (gain)/loss on interest rate swaps (638,373) 288,111 Movements in working capital: Increase in receivables (8,665) (422,625) Increase/(decrease) in payables 135,098 (49,164) Net cash flows from operating activities 2,640,468 2,157,044 Investing activities: Investment property disposed - 283,310 Land acquisitions (835,533) - Investment properties acquisition - (736,849) Capital contribution in equity-accounted investees (160,875) (71,276) Investment in equity received from non-controlling interest 11,405 - Maintenance capital expenditure and other capitalized cost (1,043,623) (709,346) Distributions received from equity-accounted investees 88,637 84,014 Interest received 57,380 108,816 Net cash flows used in investing activities (1,882,609) (1,041,331) Financing activities: Repayment of interest-bearing liabilities (1,337,832) (1,335,624) Interest paid (862,369) (904,538) Proceeds from interest-bearing liabilities, net of facility charges 3,518,403 4,665,560 Lease payments (3,775) (3,737) Distribution to CBFI holders (2,441,846) (1,813,883) Net cash flows generated (used in)/from financing activities (1,127,419) 607,778 Net (decrease)/increase in cash and cash equivalents (369,560) 1,723,491 Cash and cash equivalents at the beginning of the period 2,102,349 653,348 Foreign exchange gain on cash and cash equivalents 11,497 376,737 Cash and cash equivalents at the end of the period** 1,744,286 2,753,576 9 months ended
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FIBRA MACQUARIE MÉXICO UNAUDITED CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIOD ENDED SEPTEMBER 30, 2026 lmportant: This English translation, available online at www.fibramacquarie.com, is for courtesy purposes only. The Spanish original prevails.
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FIBRA MACQUARIE MÉXICO AND ITS CONTROLLED ENTITIES TABLE OF CONTENTS INDEPENDENT AUDITOR’S REPORT ON REVIEW OF UNAUDITED CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS 2 CONDENSED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION AS OF SEPTEMBER 30, 2026 (UNAUDITED) AND DECEMBER 31, 2025 3 CONDENSED INTERIM CONSOLIDATED STATEMENTS OF INCOME FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2026 (UNAUDITED) AND 2025 4 CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2026 (UNAUDITED) AND 2025 5 CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CASH FLOW FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2026 (UNAUDITED) AND 2025 6 NOTES TO THE UNAUDITED CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS 1. REPORTING ENTITY 7 2. BASIS OF PREPARATION AND PRESENTATION 8 3. SUMMARY OF MATERIAL ACCOUNTING POLICIES 10 4. INCOME/(EXPENSE) FOR THE PERIOD 11 5. SEGMENT REPORTING 12 6. SEASONALITY OF OPERATIONS 16 7. DISTRIBUTIONS PAID OR PROVIDED FOR 16 8. PROFIT/(LOSS) AFTER TAX PER CBFI 17 9. EQUITY-ACCOUNTED INVESTEES 17 10. INVESTMENT PROPERTIES 20 11. INTEREST-BEARING LIABILITIES 22 12. DERIVATIVE FINANCIAL INSTRUMENTS 23 13. CONTRIBUTED EQUITY 24 14. NON-CONTROLLING INTEREST 24 15. FAIR VALUES OF FINANCIAL ASSETS AND LIABILITIES 25 16. LEASES 27 17. RELATED PARTIES 27 18. EVENTS AFTER BALANCE SHEET DATE 28 Disclaimer Other than Macquarie Bank Limited ABN 46 008 583 542 (“Macquarie Bank”), any Macquarie Group entity noted in this document is not an authorised deposit-taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia). The obligation s of these other Macquarie Group entities do not represent deposits or other liabilities of Macquarie Bank. Macquarie Bank does not guarantee or otherwise provide assurance in respect of the obligations of these other Macquarie Group entities. In additio n, if this document relates to an investment, (a) the investor is subject to investment risk including possible delays in repayment and loss of income and principal invested and (b) none of Macquarie Bank or any other Macquarie Group entity guarantees any particular rate of return on or the performance of the investment, nor do they guarantee repayment of capital in respect of the investment.
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Independent Auditors’ Report on Review of Interim Financial Information To the CBFIs holders of Fideicomiso Irrevocable No. F/1622 (HSBC México, Sociedad Anónima, Institución de Banca Múltiple, Grupo Financiero HSBC, División Fiduciaria) and its controlled entities: Introduction We have reviewed the accompanying condensed interim consolidated statement of financial position of Fideicomiso Irrevocable No. F/1622 (HSBC México, Sociedad Anónima, Institución de Banca Múltiple, Grupo Financ iero HSBC, División Fiduciaria) and its controlled entities (“FIBRA Macquarie México” or “the Trust”) as at September 30, 2026, the condensed interim consolidated statements of income, changes in equity and cash flows for the nine-month period then ended, and notes to the condensed interim consolidated financial information. Management is responsible for the preparation and presentation of this condensed interim consolidated financial information in accordance with IAS 34 ‘Interim Financial Reporting’. Our responsibility is to express a conclusion on th is condensed interim consolidated financial information based on our review. Scope of Review We conducted our review in accordance with the International Standard on Review Engagements 2410, “Review of Interim Financ ial Information Performed by the Independent Auditor of the Entity”. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. Conclusion Based on our review, nothing has come to our attention that causes us to believe that the accompanying condensed interim consolidated financial information as at September 30, 2026 is not prepared, in all material respects, in accordance with IAS 34 ‘Interim Financial Reporting’. KPMG CARDENAS DOSAL, S. C. R. Sergio Lopez Lara Monterrey, Nuevo Leon, Mexico October 22, 2026
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FIBRA MACQUARIE MÉXICO AND ITS CONTROLLED ENTITIES Unaudited condensed interim consolidated financial statements 3 CONDENSED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION AS OF SEPTEMBER 30, 2026 (UNAUDITED) AND DECEMBER 31, 2025 CURRENCY AMOUNTS EXPRESSED IN THOUSANDS OF MEXICAN PESOS (UNLESS OTHERWISE STATED) The above unaudited condensed interim consolidated statements of financial position should be read in conjunction with the accompanying notes. Sep 30, 2026 Dec 31, 2025 Note $’000 $’000 Current assets Cash and cash equivalents 1,729,270 2,087,228 Trade and other receivables, net 15 97,592 254,436 Other assets 238,460 178,241 Total current assets 2,065,322 2,519,905 Non-current assets Restricted cash 15,016 15,121 Investment properties 10,15 61,548,056 58,785,946 Equity-accounted investees 9 1,926,581 1,670,069 Goodwill 837,330 837,330 Other assets 256,898 264,281 Derivative financial instruments 12,15 571,349 - Total non-current assets 65,155,230 61,572,747 Total assets 67,220,552 64,092,652 Current liabilities Trade and other payables 1,243,023 838,576 Interest-bearing liabilities 11 - 1,347,237 Tenant deposits 122,850 112,555 Other liabilities 6,804 6,274 Total current liabilities 1,372,677 2,304,642 Non-current liabilities Trade and other payables 610,431 171 Interest-bearing liabilities 11 22,750,063 19,305,478 Tenant deposits 448,573 380,559 Derivative financial instruments 12,15 - 67,024 Other liabilities 3,124 6,352 Deferred income tax 23,234 23,234 Total non-current liabilities 23,835,425 19,782,818 Total liabilities 25,208,102 22,087,460 Net assets 42,012,450 42,005,192 Equity Contributed equity 13 18,506,916 18,506,916 Retained earnings 22,888,741 22,899,883 Total controlling interest 41,395,657 41,406,799 Non-controlling interest 14 616,793 598,393 Total equity 42,012,450 42,005,192
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FIBRA MACQUARIE MÉXICO AND ITS CONTROLLED ENTITIES Unaudited condensed interim consolidated financial statements 4 CONDENSED INTERIM CONSOLIDATED STATEMENT S OF INCOME FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2026 (UNAUDITED) AND 2025 CURRENCY AMOUNTS EXPRESSED IN THOUSANDS OF MEXICAN PESOS (UNLESS OTHERWISE STATED) * Real Estate Trust Certificates (Certificados Bursátiles Fiduciarios Inmobiliarios or “CBFI”). The above unaudited condensed interim consolidated statements of income should be read in conjunction with the accompanying notes. Sep 30, 2026 Sep 30, 2025 Sep 30, 2026 Sep 30, 2025 Note $’000 $’000 $’000 $’000 Property related income 4(a) 1,233,811 1,259,672 3,661,399 3,815,349 Property related expenses 4(b) (282,179) (265,480) (820,786) (751,691) Property income after related expenses 951,632 994,192 2,840,613 3,063,658 Management fees 17(c) (76,641) (63,314) (213,812) (188,053) Transaction related expenses (19,066) (370) (253,914) (4,366) Professional, legal and other expenses 4(c) (35,188) (45,267) (120,056) (123,027) Total operating expenses (130,895) (108,951) (587,782) (315,446) Other income (36) - 3,956 - 10,15 1,135,437 (1,439,397) (272,312) (5,291,056) Unrealized revaluation (loss)/gain on investment properties measured at fair value 10,15 (685,263) (553,509) 22,823 (953,278) Finance costs 4(d) (314,443) (327,052) (912,716) (994,834) Interest income 14,296 36,863 57,380 108,816 Share of profit from equity-accounted investees 9(b) 60,361 61,637 184,274 151,746 Net foreign exchange (loss)/gain 4(e) (508,992) 541,890 2,526 1,948,298 (Loss)/gain on disposal of investment property (91) 57,422 (348) 57,422 Goodwill written off in respect of property disposed - (4,285) - (4,285) Net unrealized gain/(loss) on interest rate swaps 392,358 (22,622) 638,373 (288,111) 914,364 (763,812) 1,976,787 (2,517,070) Total consolidated profit/(loss) for the period attributable to: Controlling interest 888,508 (761,458) 1,947,251 (2,485,184) Non-controlling interest 25,856 (2,354) 29,536 (31,886) 914,364 (763,812) 1,976,787 (2,517,070) Profit/(loss) per CBFI* Basic and diluted profit/(loss) per CBFI (pesos) 8 1.11 (0.96) 2.44 (3.12) Total profit/(loss) for the period Net unrealized foreign exchange gain/(loss) on investment properties 9 months ended3 months ended Consolidated profit/(loss) for the period
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FIBRA MACQUARIE MÉXICO AND ITS CONTROLLED ENTITIES Unaudited condensed interim consolidated financial statements 5 CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2026 (UNAUDITED) AND 2025 CURRENCY AMOUNTS EXPRESSED IN THOUSANDS OF MEXICAN PESOS (UNLESS OTHERWISE STATED) The above unaudited condensed interim consolidated statements of changes in equity should be read in conjunction with the accompanying notes. Total non-controlling interest Note $’000 $’000 $’000 $’000 $’000 Total equity at January 1, 2025 13 18,506,916 27,281,518 45,788,434 519,304 46,307,738 Total loss for the period - (2,485,184) (2,485,184) (31,886) (2,517,070) Total loss for the period - (2,485,184) (2,485,184) (31,886) (2,517,070) Transactions with equity holders in their capacity as equity holders: - Distributions to CBFI holders 7 - (1,395,294) (1,395,294) - (1,395,294) - Distributions to non-controlling interest - - - (14,661) (14,661) Total transactions with equity holders in their capacity as equity holders - (1,395,294) (1,395,294) (14,661) (1,409,955) Total equity as of September 30, 2025 18,506,916 23,401,040 41,907,956 472,757 42,380,713 Total equity at January 1, 2026 13 18,506,916 22,899,883 41,406,799 598,393 42,005,192 Total profit for the period - 1,947,251 1,947,251 29,536 1,976,787 Total profit for the period - 1,947,251 1,947,251 29,536 1,976,787 Transactions with equity holders in their capacity as equity holders: - Distributions to CBFI holders 7 - (1,953,493) (1,953,493) - (1,953,493) - Distributions to non-controlling interest - - - (22,540) (22,540) - Equity (diluted)/increase in non-controlling interest - (9,693) (9,693) 9,693 - - Equity contributed from non-controlling interest - - - 1,711 1,711 - Equity contributed from controlling interest - 4,793 4,793 - 4,793 Total transactions with equity holders in their capacity as equity holders - (1,958,393) (1,958,393) (11,136) (1,969,529) Total equity as of September 30, 2026 18,506,916 22,888,741 41,395,657 616,793 42,012,450 Contributed equity Total controlling interest Retained earnings Total
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FIBRA MACQUARIE MÉXICO AND ITS CONTROLLED ENTITIES Unaudited condensed interim consolidated financial statements 6 CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CASH FLOW FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2026 (UNAUDITED) AND 2025 CURRENCY AMOUNTS EXPRESSED IN THOUSANDS OF MEXICAN PESOS (UNLESS OTHERWISE STATED) * The depreciation is in respect of the right-of-use assets held at the Group's vertically integrated internal platform level, calculated in accordance with IFRS 16. This amount is included in property administration expense in note 4. ** Includes restricted cash balance of $15.0 million (2025: $15.4 million) as of September 30, 2026. The above unaudited condensed interim consolidated statements of cash flows should be read in conjunction with the accompanying notes. Sep 30, 2026 Sep 30, 2025 $’000 $’000 Note Inflows / (Outflows) Inflows / (Outflows) Operating activities: Profit/(loss) for the period 1,976,787 (2,517,070) Adjustments for: Net unrealized foreign exchange loss on investment properties 10,15 272,312 5,291,056 Unrealized revaluation (gain)/loss on investment properties measured at fair value 10,15 (22,823) 953,278 Goodwill written off in respect of properties disposed - 4,285 Straight line rental income adjustment 2,639 (229) Loss/(gain) on disposal of investment property 348 (57,422) Tenant improvement amortization 4(b) 93,646 95,702 Leasing expense amortization 4(b) 93,440 93,355 Right-of-use assets depreciation* 3,463 3,428 Interest income (57,380) (108,816) Impairment on trade receivables 4(b) 75,557 65,102 Net unrealized foreign exchange gain on monetary items 4(e) (14,023) (2,325,035) Finance costs 4(d) 912,716 994,834 Share of profit from equity-accounted investees 9(b) (184,274) (151,746) Net unrealized (gain)/loss on interest rate swaps (638,373) 288,111 Movements in working capital: Increase in receivables (8,665) (422,625) Increase/(decrease) in payables 135,098 (49,164) Net cash flows from operating activities 2,640,468 2,157,044 Investing activities: Investment property disposed 10 - 283,310 Land acquisitions 10 (835,533) - Investment properties acquisition 10 - (736,849) Capital contribution in equity-accounted investees 9(b) (160,875) (71,276) Investment in equity received from non-controlling interest 11,405 - Maintenance capital expenditure and other capitalized cost (1,043,623) (709,346) Distributions received from equity-accounted investees 9(b) 88,637 84,014 Interest received 57,380 108,816 Net cash flows used in investing activities (1,882,609) (1,041,331) Financing activities: Repayment of interest-bearing liabilities 11 (1,337,832) (1,335,624) Interest paid (862,369) (904,538) Proceeds from interest-bearing liabilities, net of facility charges 11 3,518,403 4,665,560 Lease payments (3,775) (3,737) Distribution to CBFI holders 7 (2,441,846) (1,813,883) Net cash flows generated (used in)/from financing activities (1,127,419) 607,778 Net (decrease)/increase in cash and cash equivalents (369,560) 1,723,491 Cash and cash equivalents at the beginning of the period 2,102,349 653,348 Foreign exchange gain on cash and cash equivalents 4(e) 11,497 376,737 Cash and cash equivalents at the end of the period** 1,744,286 2,753,576 9 months ended
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FIBRA MACQUARIE MÉXICO AND ITS CONTROLLED ENTITIES Unaudited condensed interim consolidated financial statements 7 NOTES TO THE UNAUDITED CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS CURRENCY AMOUNTS EXPRESSED IN THOUSANDS OF MEXICAN PESOS (UNLESS OTHERWISE STATED) 1. REPORTING ENTITY FIBRA Macquarie México (“FIBRA Macquarie ”) was created under the Irrevocable Trust Agreement No. F/1622, dated November 14, 2012, which is now maintained by Macquarie Asset Management México, S.A. de C.V., as settlor, HSBC México, S.A., Institución de Banca Múltiple, Grupo Financiero HSBC, División Fiduciaria (“HSBC”), as trustee (in such capacity, the “FIBRA Macquarie Trustee”) , Macquarie Asset Management México, S.A. de C.V. as Manager (in such capacity, "MAM México" or the "Manager"), and Monex Casa de Bolsa, S.A. de C.V., Monex Grupo Financiero, as common representative . FIBRA Macquarie is a real estate investment trust (Fideicomiso de Inversión en Bienes Raíces or “FIBRA”) for Mexican federal tax purposes. FIBRA Macquarie is domiciled in the United States of México ("México") and the address of its registered office is at Av. Paseo de la Reforma 347, Cuauhtémoc, Alcaldía Cuauhtémoc, México City, 06500 with effect from July 18, 2025. These unaudited condensed interim consolidated financial statements comprise the trust and its controlled entities F/311022 MMREIT Industrial Trust III, F/ 311014 MMREIT Industrial Trust IV, F/ 311138 MMREIT Industrial Trust V, F/311146 MMREIT Industrial Trust VI , F/3493 HSBC México, F/311162 MMREIT Industrial Trust VII , F/311189 MMREIT Industrial Trust VII I, F/311197 MMREIT Retail Trust III , F/311235 MMREIT Retail Trust V and MMREIT Property Administration, A.C. (“MPA”) (together referred as the “Group” or “FIBRA Macquarie”). FIBRA Macquarie was established with the purpose of investing in real estate assets in México. Relevant activities during the period ended September 30, 2026 On February 19, 2026, the Group acquired 124 hectares (ha) of a land parcel located in Tijuana for a total consideration of US$113.8 million excluding transaction costs and taxes. On February 25, 2026, FIBRA Macquarie announced that it had been informed that Macquarie Asset Management México, S.A. de C.V. (“ MAM México”), Prologis Property México, S.A. de C.V. (“Prologis”) and FIBRA Prologis had entered into a Transaction and Covenant Agreement under which MAM México had agreed to transfer to Prologis all of its rights and obligations under the management agreement entered into between MAM México and FIBRA Macquarie, subject to the satisfaction of certain conditions. On March 17, 2026, FIBRA Prologis received authorization from its holders to conduct a public offering for up to 100% of the CBFIs issued by FIBRA Macquarie. As of March 31, 2026, FIBRA Macquarie fully drew US$50.0 million from the senior unsecured sustainability -linked credit facility with International Finance Corporation (IFC). On April 7, 2026, FIBRA Prologis announced that it launched a public tender offer (the “FIBRA Prologis Public Offer”) for up to 100% of the real estate certificates issued by FIBRA Macquarie. On April 15, 2026, FIBRA Macquarie announced the upsizing and extension of its existing sustainability-linked, uncommitted revolving credit with BBVA México. The facility has been increased to a total amount of up to US$200.0 million, and its maturity has been extended by five years, now maturing on April 15, 2031. Borrowings under this facility will bear interest at a variable rate equal to 90-day SOFR plus a credit spread of 105-basis points over the term of the loan. On April 24, 2026, FIBRA Macquarie made an announcement referring to the public announcement issued by FIBRA Monterrey (“FIBRA MTY”) , regarding FIBRA MTY’s launch of a public tender offer for up to 100% of the CBFIs issued by FIBRA Macquarie (the “FIBRA MTY Public Offer”). On May 27, 2026, FIBRA Macquarie made an announcement referring to the notice for informational purposes (aviso con fines informativos) published on May 26, 2026 by FIBRA Prologis, regarding the results of the FIBRA Prologis Public Offer. In such notice, FIBRA Prologis informed that, as certain conditions to which the FIBRA Prologis Public Offer was subject were not satisfied, and given that the FIBRA Prologis Public Offer period had elapsed, the FIBRA Prologis Public Offer had expired. On June 1, 2026, FIBRA Macquarie made an announcement referring to the public announcement issued on May 31, 2026 by FIBRA MTY, confirming that all of the conditions to the successful consummation of the FIBRA MTY Public Offer had been satisfied and that m ore than 80% of the outstanding FIBRAMQ CBFIs had participated in the FIBRA MTY Public Offer. In connection with the transaction, FIBRA Macquarie engaged BofA Securities to provide financial advisory and related services. Following the successful completio n of the transaction, and in accordance with the terms of the engagement, FIBRA Macquarie paid to BofA Securities a total fee of US$9.25 million as of June 30, 2026. In addition, FIBRA Macquarie incurred legal, advisory, and other transaction-related costs associated with the execution and completion of the transaction.
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FIBRA MACQUARIE MÉXICO AND ITS CONTROLLED ENTITIES Unaudited condensed interim consolidated financial statements 8 NOTES TO THE UNAUDITED CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) CURRENCY AMOUNTS EXPRESSED IN THOUSANDS OF MEXICAN PESOS (UNLESS OTHERWISE STATED) 1. REPORTING ENTITY (CONTINUED) Relevant activities during the period ended September 30, 2026 (continued) On June 29, 2026, FIBRA Macquarie announced that it had been informed that MAM México, Macquarie Infrastructure and Real Assets Holdings Pty Limited and FIBRA MTY had entered into an Internalization Agreement under which, subject to the satisfaction of certain conditions, the termination of the management agreement entered into between MAM México and FIBRA Macquarie was agreed, in order to internalize the management of FIBRA Macquarie. Under such Internalization Agreement, FIBRA MTY shall pay the corresponding internalization consideration to MAM México and FIBRA MTY will assume the management responsibilities at FIBRA Macquarie. Further, F IBRA MTY announced its intention to launch a tender offer for up to 100% of the outstanding FIBRAMQ CBFIs, subject to obtaining the required regulatory approvals. Until the conditions precedent of the Internalization Agreement are satisfied, the Company continues to be managed by MAM México. In July 2026, following approval by the Technical Committee and the FIBRA Committee, FIBRA Macquarie moved to a more flexible distribution framework, allowing quarterly or monthly distributions at the manager’s discretion. The transition was implemented in three phases: (i) payment of the 2Q26 distribution in July 2026; (ii) payment of the July and August 2026 monthly-equivalent distributions during August 2026; and (iii) commencement of regular monthly distributions from September 2026 onward. During 3Q26, FIBRA Macquarie distributed a total of Ps.976.8 million. On August 11, 2026, the Holders approved the resignation of Macquarie Asset Management México, S.A. de C.V. as manager of the Trust, the Trustee’s acceptance of such resignation, and the appointment of Administrador Fibra MTY, S.C. as substitute manager. T hese actions will become effective upon the closing of the internalization transaction contemplated under the Internalization Agreement dated June 26, 2026. On September 30, 2026, FIBRA Macquarie issued a notice referencing the announcement made by FIBRA M TY regarding the launch of a public tender offer by FIBRA MTY to acquire up to 100% of the FIBRA Macquarie CBFIs not already owned by FIBRA MTY (the "FIBRA MTY Second Public Offer"). During the third quarter of 2026, FIBRA Macquarie completed three drawdowns under its uncommitted revolving credit facility with BBVA México, totaling US$135.0 million. The proceeds were primarily used to repay the US$75.0 million unsecured private placement notes issued in 2016 that matured on September 30, 2026, with the remaining funds allocated to working capital. 2. BASIS OF PREPARATION AND PRESENTATION a) Statement of compliance These unaudited condensed interim consolidated financial statements are for the Group and have been prepared in accordance with International Accounting Standard ("IAS") 34 Interim Financial Reporting . Certain information and note disclosures normally included in the consolidated financial statements prepared in accordance with IFRS Accounting Standards as issued by the International Accounting Standard s Board (IFRS Accounting Standard s) have been condensed or omitted in accordance with the provisions for reporting inter im periods. Therefore, the unaudited condensed interim consolidated financial statements should be read in conjunction with the consolidated financial statements for the year ended December 31, 2025, prepared in accordance with IFRS. The results of the interim periods are not necessarily indicative of the consolidated statements of income for the full year. The Manager considers that all regular and recurring adjustments necessary for a fair presentation of the unaudited condensed interim consolidated financial statements have been included. These unaudited condensed interim consolidated financial statements were approved by the Technical Committee of FIBRA Macquarie on October 21, 2026. b) Historical cost convention These unaudited condensed interim consolidated financial statements have been prepared on a going concern basis under the historical cost convention, as modified by the revaluation of investment properties at fair value.
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FIBRA MACQUARIE MÉXICO AND ITS CONTROLLED ENTITIES Unaudited condensed interim consolidated financial statements 9 NOTES TO THE UNAUDITED CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) CURRENCY AMOUNTS EXPRESSED IN THOUSANDS OF MEXICAN PESOS (UNLESS OTHERWISE STATED) 2. BASIS OF PREPARATION AND PRESENTATION (CONTINUED) c) Critical accounting judg ements and estimates During the preparation of the unaudited condensed interim consolidated financial statements, the Manager is required to make judgements, estimations and estimates of uncertainties as of September 30, 2026 that affect the application of accounting policies. Estimates and assumptions used in these unaudited condensed interim consolidated financial statements are based on information available to the Group a t the end of the reporting period. The notes to the unaudited condensed interim consolidated financial statements set out areas involving a higher degree of judgement or complexity, or areas where assumptions are significant to the unaudited condensed interim consolidated financial statements such as: (i) Judgements - Classification of joint arrangements into joint ventures “JV”: critical judgements are made with respect to the fair values o f investment properties included in the JVs’ with Grupo Frisa. See note 9 for further details. (ii) Assumptions and estimation of uncertainties - Trade and other receivables: the portfolio is measured based on a forward -looking ‘Expected Credit Loss’ ("ECL") model. This requires considerable judgement about how changes in economic factors affect ECLs, which will be determined on a probability-weighted basis. Any change in Management’s estimates can result in modification of the impairment loss of trade receivables. - Critical assumptions relating to the valuation of investment properties at fair value include the receipt of contractual rent s, expected future market rents, renewal rates, capital expenditures, discount rates that reflect current market uncertainties, capitalization rates and recent investment propert ies transactions. If there is any change in these assumptions, or regional, national or international economic conditions, the fair value of investment properties may change materially. See note 1 0 for further details. - Estimation of fair value of investment properties: critical judgements are made with respect to the fair values of investment properties. The fair values of investment properties are reviewed regularly by Management with reference to independent property valuations and market conditions existing at the reporting date, using generally accepted market practices. The independent valuer is experienced, internationally recognized and qualified in the professional valuation of industrial and retail buildings in their respective geographic areas. FIBRA Macquarie performed quarterly independent appraisals. See note 1 0 and 15 for further details. - Estimation of fair value of derivative financial instruments: the inputs to these models are taken from observable markets where possible, but where this is not feasible, a degree of judg ement is required in establishing fair values. The judg ements include consideration of inputs such as credit risk and volatility. Changes in assumptions about these factors could materially affect the reported fair value of financial instruments. See note 15 for further details. - Income tax and deferred income tax: the recognition and measurement of deferred tax assets or liabilities is dependent on Management’s estimate of future taxable profits and income tax rates that are expected to be in effect in the period in which the asset is realised, or the liability is settled. Any changes in Management’s estimates can result in changes in deferred tax assets or liabilities as reported in the unaudited condensed interim consolidated statement of financial position. - Goodwill is tested for impairment at least once a year , and when circumstances indicate that the carrying value may be impaired based on key assumptions underlying the portfolio premium. Management believes that the estimates used in preparing the unaudited condensed interim consolidated financial statements are reasonable. Actual results in the future may differ from those reported and therefore it is possible, on the basis of existing knowledge, that outcomes within the next financial year that are different from our assumptions and estimates could result in an adjustment to the carrying amounts of the assets and liabilities previously reported. d) Measurement of fair value The Group measures financial instruments, such as derivatives and non-derivatives financial assets and investment properties, at fair value at every reporting date. Fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either: in the principal market for the asset or liability, or, in the absence of a principal market, in the most advantageous market for the asset or liability.
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FIBRA MACQUARIE MÉXICO AND ITS CONTROLLED ENTITIES Unaudited condensed interim consolidated financial statements 10 NOTES TO THE UNAUDITED CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) CURRENCY AMOUNTS EXPRESSED IN THOUSANDS OF MEXICAN PESOS (UNLESS OTHERWISE STATED) 2. BASIS OF PREPARATION AND PRESENTATION (CONTINUED) d) Measurement of fair value (continued) All assets and liabilities for which fair value is measured or disclosed in the unaudited condensed interim consolidated financial statements are categorized in one of these hierarchy levels based on inputs used in the valuation process. The level in the fair value hierarchy under which fair value measurement falls is determined based on the lowest level input that is significant to the fair value measurement. The levels of the fair value hierarchy are as follows: Level 1 – The fair value is based on unadjusted quoted prices in active markets that are accessible to the entity for identical assets or liabilities. These quoted prices generally provide the most reliable evidence and should be used to measure fair value whenever available. Level 2 – Fair value is based on inputs other than quoted prices included within level 1, that inputs, which are observable for the asset or liability, either directly or indirectly, substantially for the full term of the asset or liability through corroboration of observable market data. Level 3 – The fair value is based on significant unobservable inputs for the asset or liability. Such inputs reflect the Group’s own assumptions about how market participants would price the asset or liability. 3. SUMMARY OF MATERIAL ACCOUNTING POLICIES The Group has consistently applied its material accounting policies for all periods presented in the unaudited condensed interim consolidated financial statements and in relation with those of the previous year. a) Accounting s tandards issued but not yet effective A number of new accounting standards and amendments to accounting standards are effective for annual periods beginning after January 1, 202 6 and earlier application is permitted. The Group has not early adopted any of the forthcoming new or amended accounting standards in preparing these unaudited condensed interim consolidated financial statements . These standards and amendments would have immaterial or no impact to the Group’s unaudited condensed interim consolidated financial statements. These include: - Translation to a Hyperinflationary Presentation Currency - Amendment to IAS 21 - Presentation and Disclosure in Financial Statements – IFRS 18 - Amendments to the Classification and Measurement of Financial Instruments – Amendments to IFRS 9, Financial Instruments and IFRS 7, Financial Instruments: Disclosures b) Principles of consolidation The unaudited condensed interim consolidated financial statements of FIBRA Macquarie incorporate the assets and liabilities of its controlled entities as of September 30, 2026 and December 31, 2025; the income statement for the nine months period ended as of September 30, 2026 and September 30, 2025. The effects of intra-Group balances and transactions, and any unrealized income and expenses arising from subsidiaries transactions, are eliminated in preparation of the unaudited condensed interim consolidated financial statements. (i) Subsidiaries Subsidiaries are entities controlled by the Group. The Group controls an entity when it is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. T he unaudited interim financial statements of subsidiaries are included in the unaudited condensed interim consolidated financial statements from the date on which control commences until the date on which control ceases. For the period ended as of September 30, 2026, the Group consolidated the financial results of MMREIT Property Administration, A.C. (“MPA”) and HSBC México, S.A., Institución de Banca Múltiple, Grupo Financiero HSBC F/3493 ("F/3493”).
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FIBRA MACQUARIE MÉXICO AND ITS CONTROLLED ENTITIES NOTES TO THE UNAUDITED CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) CURRENCY AMOUNTS EXPRESSED IN THOUSANDS OF MEXICAN PESOS (UNLESS OTHERWISE STATED) Unaudited condensed interim consolidated financial statements 11 4. INCOME/(EXPENSE) FOR THE PERIOD The income/(expense) for the period includes the following items of revenues and expenses: 1 Refer to note 5 for a split of property related income by operating segments and geographic area. All revenues are recognized on a straight-lined basis over the lease term in accordance with IFRS 16 Leases. As of September 30, 2026, the Group had 94 employees (2025: 91 employees) in its vertically integrated internal property management platform. Sep 30, 2026 Sep 30, 2025 Sep 30, 2026 Sep 30, 2025 $’000 $’000 $’000 $’000 a) Property related income Lease related income 1,114,158 1,150,429 3,334,495 3,503,918 Car parking income 16,880 16,533 48,644 46,397 Expenses recoverable from tenants 102,773 92,710 278,260 265,034 Total property related income1 1,233,811 1,259,672 3,661,399 3,815,349 b) Property related expenses Property administration expense (30,950) (30,589) (89,724) (92,621) Property insurance (7,677) (8,431) (23,193) (25,493) Property tax (33,212) (31,069) (102,542) (93,018) Repairs and maintenance (48,709) (47,914) (131,540) (126,631) Industrial park fees (14,252) (12,998) (41,214) (41,913) Security services (14,315) (11,582) (41,611) (33,530) Property related legal and consultancy expenses (13,182) (5,620) (39,719) (19,111) Tenant improvements amortization (32,096) (33,934) (93,646) (95,702) Leasing expenses amortization (32,559) (32,599) (93,440) (93,355) Utilities (21,620) (15,756) (55,301) (34,658) Marketing costs (3,130) (3,898) (10,580) (13,618) Car park operating fees (3,662) (3,560) (11,530) (10,533) Impairment on trade receivables (23,053) (25,600) (75,557) (65,102) Other property related expenses (3,762) (1,930) (11,189) (6,406) Total property related expenses (282,179) (265,480) (820,786) (751,691) c) Professional, legal and other expenses Tax advisory expenses 271 (874) (599) (2,157) Accountancy expenses (5,695) (6,244) (16,672) (16,779) Valuation expenses (1,793) (1,879) (5,440) (5,533) Audit expenses (1,797) (1,551) (5,391) (4,653) Other professional expenses (12,241) (16,625) (42,772) (44,557) Other expenses (13,933) (18,094) (49,182) (49,348) Total professional, legal and other expenses (35,188) (45,267) (120,056) (123,027) d) Finance costs Interest expense on interest-bearing liabilities (302,818) (315,710) (879,915) (969,812) Finance costs under effective interest method (11,536) (11,219) (32,504) (24,750) Interest expense on lease liabilities (89) (123) (297) (272) Total finance costs (314,443) (327,052) (912,716) (994,834) e) Net foreign exchange (loss)/gain (518,125) 595,746 56,896 2,296,968 Realized foreign exchange gain/(loss) 9,133 (53,856) (54,370) (348,670) Total net foreign exchange (loss)/gain (508,992) 541,890 2,526 1,948,298 Unrealized foreign exchange (loss)/gain on monetary items 9 months ended 3 months ended
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FIBRA MACQUARIE MÉXICO AND ITS CONTROLLED ENTITIES NOTES TO THE UNAUDITED CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) CURRENCY AMOUNTS EXPRESSED IN THOUSANDS OF MEXICAN PESOS (UNLESS OTHERWISE STATED) Unaudited condensed interim consolidated financial statements 12 5. SEGMENT REPORTING The chief operating decision -maker is the person that allocates resources to, and assesses, the performance of the operating segments of an entity. The Group has determined that its chief operating decision -maker is the Chief Executive Officer ("CEO") of t he Group. The Manager has identified the operating segments based on the reports reviewed by the CEO in making strategic decisions. The operating segments obtained their income primarily from lease rental derived from tenants in México divided into two segments (Industrial and Retail). During the period, there were no transactions between the Group’s operating segments. The locations of the properties are grouped by regions as follows: North East: Matamoros, Monterrey, Nuevo Laredo, Reynosa and Saltillo; Central: Guadalajara, Irapuato, México City Metropolitan Area (MCMA), Puebla, Querétaro and San Luis Potosí; North West: Hermosillo, Los Mochis, Mexicali, Nogales and Tijuana; North: Cd. Juárez and Chihuahua; South: Cancún and Tuxtepec. The segment information includes proportionately consolidated results of the joint ventures, which are eliminated in the segment reconciliations. The CEO monitors the performance of the Group based on the location of the investment properties, as follows: ¹ The retail south segment and the retail central segment includes revenues relating to joint ventures amounting to $25.3 million and $52.3 million respectively. ² The retail south segment and the retail central segment includes operating profit relating to joint ventures amounting to $17.0 million and $34.9 million respectively. ³ The retail south segment and the retail central segment include finance costs relating to the joint ventures amounting to $5.4 million and $11.1 million respectively. Total 3 months ended North East Central North West North South Central September 30, 2026 $’000 $’000 $’000 $’000 $’000 $’000 $’000 Revenue from external customers1 374,734 293,953 218,599 189,090 25,263 209,727 1,311,366 Lease related income 345,320 267,258 204,928 177,635 20,937 169,496 1,185,574 Car park income - - - - 1,045 19,040 20,085 Expenses recoverable from tenants 29,414 26,695 13,671 11,455 3,281 21,191 105,707 Segment net profit² 321,879 329,420 201,128 165,902 16,959 210,808 1,246,096 Included in profit for the period: Foreign exchange (loss)/gain (40,383) (21,901) (55,781) (24,907) 3 15 (142,954) Net unrealized foreign exchange gain on investment properties 388,876 298,325 267,960 183,092 - - 1,138,253 Unrealized revaluation (loss)/gain on investment properties measured at fair value (283,387) (177,817) (170,241) (125,210) 6,256 84,184 (666,215) Finance costs3 (21,888) (14,736) (15,682) (14,127) (5,359) (11,086) (82,878) Industrial Retail1,2,3
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FIBRA MACQUARIE MÉXICO AND ITS CONTROLLED ENTITIES NOTES TO THE UNAUDITED CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) CURRENCY AMOUNTS EXPRESSED IN THOUSANDS OF MEXICAN PESOS (UNLESS OTHERWISE STATED) Unaudited condensed interim consolidated financial statements 13 5. SEGMENT REPORTING (CONTINUED) ¹ The retail south segment and the retail central segment includes revenues relating to joint ventures amounting to $23.8 million and $51.4 million, respectively. ² The retail south segment and the retail central segment includes operating profit relating to joint ventures amounting to $ 21.7 million and $47.0 million, respectively. ³ The retail south segment and the retail central segment include finance costs relating to the joint ventures amounting to $ 5.2 million and $11.2 million, respectively. ¹ The retail south segment and the retail central segment includes revenues relating to joint ventures amounting to $73.1 million and $153.7 million respectively. ² The retail south segment and the retail central segment includes operating profit relating to joint ventures amounting to $57.8 million and $121.7 million respectively. ³ The retail south segment and the retail central segment include finance costs relating to the joint ventures amounting to $15.8 million and $33.3 million respectively. Total 3 months ended North East Central North West North South Central September 30, 2025 $’000 $’000 $’000 $’000 $’000 $’000 $’000 Revenue from external customers 1 405,838 284,004 229,682 192,495 23,773 199,075 1,334,867 Lease related income 382,620 261,392 218,436 181,816 19,826 160,423 1,224,513 Car park income - - - - 1,022 18,744 19,766 Expenses recoverable from tenants 23,218 22,612 11,246 10,679 2,925 19,908 90,588 Segment net (loss)/profit² (439,856) (277,008) (181,132) (148,428) 21,734 159,493 (865,197) Included in (loss)/profit for the period: Foreign exchange gain 49,444 27,827 35,333 28,309 - 6 140,919 Net unrealized foreign exchange loss on investment properties (541,482) (420,709) (268,346) (211,787) - - (1,442,324) Unrealized revaluation (loss)/gain on investment properties measured at fair value (236,643) (105,069) (114,897) (106,314) 11,501 34,303 (517,119) Finance costs3 (24,513) (15,737) (17,552) (14,319) (5,192) (11,229) (88,542) Industrial Retail1,2,3 Total 9 months ended North East Central North West North South Central September 30, 2026 $’000 $’000 $’000 $’000 $’000 $’000 $’000 Revenue from external customers1 1,121,118 856,894 657,919 555,366 73,079 623,845 3,888,221 Lease related income 1,043,209 783,399 619,521 520,725 60,530 506,605 3,533,989 Car park income - - - - 3,193 55,361 58,554 Expenses recoverable from tenants 77,909 73,495 38,398 34,641 9,356 61,879 295,678 Segment net profit² 728,198 623,111 411,441 343,408 57,850 362,417 2,526,425 Included in profit for the period: Foreign exchange gain/(loss) 1,176 2,875 (46,508) 2,753 3 (41) (39,742) Net unrealized foreign exchange (loss)/gain on investment properties (123,172) (95,241) 4,581 (58,520) - - (272,352) Unrealized revaluation gain/(loss) on investment properties measured at fair value 52,177 49,631 (9,934) 8,265 26,934 (20,653) 106,420 Finance costs3 (66,638) (43,509) (48,302) (42,652) (15,811) (33,262) (250,174) Industrial Retail1,2,3
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FIBRA MACQUARIE MÉXICO AND ITS CONTROLLED ENTITIES NOTES TO THE UNAUDITED CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) CURRENCY AMOUNTS EXPRESSED IN THOUSANDS OF MEXICAN PESOS (UNLESS OTHERWISE STATED) Unaudited condensed interim consolidated financial statements 14 5. SEGMENT REPORTING (CONTINUED) ¹ The retail south segment and the retail central segment includes revenues relating to joint ventures amounting to $69.8 million and $151.2 million respectively. ² The retail south segment and the retail central segment includes operating profit relating to joint ventures amounting to $ 59.0 million and $127.9 million respectively. ³ The retail south segment and the retail central segment include finance costs relating to the joint ventures amounting to $ 15.5 million and $33.5 million respectively. The Group’s non-current assets are primarily comprised of investment properties located in México. Total 9 months ended North East Central North West North South Central September 30, 2025 $’000 $’000 $’000 $’000 $’000 $’000 $’000 Revenue from external customers1 1,200,653 873,505 709,409 598,900 69,768 584,113 4,036,348 Lease related income 1,133,610 803,863 676,674 561,557 58,343 472,862 3,706,909 Car park income - - - - 3,078 53,070 56,148 Expenses recoverable from tenants 67,043 69,642 32,735 37,343 8,347 58,181 273,291 Segment net (loss)/profit² (1,300,099) (823,727) (575,559) (574,454) 59,004 501,137 (2,713,698) Included in (loss)/profit for the period: Foreign exchange gain 177,590 94,698 127,678 111,964 - 26 511,956 Net unrealized foreign exchange loss on investment properties (1,962,078) (1,360,420) (1,036,836) (934,649) - - (5,293,983) Unrealized revaluation (loss)/gain on investment properties measured at fair value (396,078) (249,926) (196,385) (186,552) 28,353 137,119 (863,469) Finance costs3 (76,233) (46,417) (54,938) (48,049) (15,460) (33,511) (274,608) Industrial Retail1,2,3 Total North East Central North West North South Central As of September 30, 2026 $’000 $’000 $’000 $’000 $’000 $’000 $’000 Total segment assets 19,733,433 15,463,463 13,984,410 9,339,557 745,233 6,390,172 65,656,268 Total segment liabilities (1,956,724) (1,385,642) (2,689,616) (1,202,049) (197,737) (551,855) (7,983,623) As of December 31, 2025 Total segment assets 20,333,141 14,694,581 10,718,187 9,638,521 715,613 6,582,325 62,682,368 Total segment liabilities (1,974,139) (1,310,069) (1,366,281) (1,201,731) (199,562) (518,516) (6,570,298) Industrial Retail
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FIBRA MACQUARIE MÉXICO AND ITS CONTROLLED ENTITIES NOTES TO THE UNAUDITED CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) CURRENCY AMOUNTS EXPRESSED IN THOUSANDS OF MEXICAN PESOS (UNLESS OTHERWISE STATED) Unaudited condensed interim consolidated financial statements 15 5. SEGMENT REPORTING (CONTINUED) Segment revenue and segment profit/(loss) are reconciled to total revenue and profit for the period as follows: 1 A portion of existing debt is in the form of unsecured facilities at FIBRA Macquarie level and consequently, in 2026 and 2025 finance cost is considered as a reconciling item. 2 Net foreign exchange (loss)/gain on monetary items arising in respect of the unsecured debt revaluation at the end of the period. 3 Fees related with the Manager in respect of the existing management agreement , entered into on December 11, 2012 (the “ management agreement”). 4 Includes certain legal and other transaction-related costs associated with the tender offer process. Sep 30, 2026 Sep 30, 2025 Sep 30, 2026 Sep 30, 2025 $’000 $’000 $’000 $’000 Total segment revenue 1,311,366 1,334,867 3,888,221 4,036,348 Revenue attributable to equity-accounted investees (77,555) (75,195) (226,822) (220,999) 1,233,811 1,259,672 3,661,399 3,815,349 Segment profit/(loss) 1,246,096 (865,197) 2,526,425 (2,713,698) Unallocated segments amounts: Property related expenses not included in reporting segments 992 1,119 3,103 3,317 Finance costs not included in reporting segments 1 (248,011) (254,930) (711,617) (769,197) Interest income 14,296 36,863 57,380 108,816 Items attributable to equity-accounted investees 5,199 (5,539) 6,807 (32,233) Other income (36) - 3,956 - Net foreign exchange (loss)/gain 2 (365,544) 400,971 40,490 1,436,342 - (4,285) - (4,285) (91) 57,422 (348) 57,422 392,358 (21,292) 638,373 (288,111) Management fees3 (76,641) (63,314) (213,812) (188,053) Transaction related expenses 4 (19,066) (369) (253,914) (4,365) Professional, legal and other expenses (35,188) (45,261) (120,056) (123,025) 914,364 (763,812) 1,976,787 (2,517,070) 9 months ended Profit/(loss) for the period (Loss)/gain on disposal of investment property 3 months ended Total revenue for the period Goodwill written off in respect of property disposed Net unrealized gain/(loss) on interest rate swaps
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FIBRA MACQUARIE MÉXICO AND ITS CONTROLLED ENTITIES NOTES TO THE UNAUDITED CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) CURRENCY AMOUNTS EXPRESSED IN THOUSANDS OF MEXICAN PESOS (UNLESS OTHERWISE STATED) Unaudited condensed interim consolidated financial statements 16 5. SEGMENT REPORTING (CONTINUED) Segment assets and liabilities are reconciled to total assets and liabilities as follows: 1 Assets and liabilities held at fund level. 6. SEASONALITY OF OPERATIONS There are no material seasonal fluctuations for the Group’s operations given the characteristics of the properties and lease agreements. 7. DISTRIBUTIONS PAID OR PROVIDED FOR For the period ended September 30, 2026, FIBRA Macquarie paid seven distributions amounting to $2,442.0 million (2025: $1,814.0 million) as follows: 1 Amounts expressed in millions of pesos. 2 Distribution accrued as of December 31, 2025 and paid on January 30, 2026. 3 The distribution for 3Q26 was paid monthly. Refer to note 1 for further details. Sep 30, 2026 Dec 31, 2025 $’000 $’000 Segment assets 65,656,268 62,682,368 Items not included in segment assets: Cash, cash equivalents and restricted cash1 1,372,041 1,789,939 Trade and other receivables, net 150 (3,303) Other assets1 234,484 243,031 Assets attributable to equity-accounted investees 1 (2,540,321) (2,289,452) Investment in equity-accounted investees 1 1,926,581 1,670,069 Derivative financial instruments not included in reporting segment 1 571,349 - Total assets 67,220,552 64,092,652 Segment liabilities (7,983,623) (6,570,298) Items not included in segment liabilities: Interest-bearing liabilities 1 (17,681,737) (15,551,690) Trade and other payables1 (130,123) (488,302) Liabilities attributable to equity-accounted investees 1 613,739 619,441 Other liabilities 1 (3,124) (6,352) Deferred income tax liability 1 (23,234) (23,234) Derivative financial instruments not included in reporting segment 1 - (67,025) Total liabilities (25,208,102) (22,087,460) Period/Year ended Distribution Distribution paid per CBFI paid1 3Q252 Jan 30, 2026 0.6125 488.4 4Q25 Mar 12, 2026 0.6125 488.4 1Q26 Jun 18, 2026 0.6125 488.4 2Q26 Jul 30, 2026 0.6125 488.4 July 2026 3 Aug 07, 2026 0.2042 162.8 August 20263 Aug 28, 2026 0.2042 162.8 September 2026 3 Sep 18, 2026 0.2042 162.8 2,442.0 Distributions paid during the period Payment dateDistribution period
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FIBRA MACQUARIE MÉXICO AND ITS CONTROLLED ENTITIES NOTES TO THE UNAUDITED CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) CURRENCY AMOUNTS EXPRESSED IN THOUSANDS OF MEXICAN PESOS (UNLESS OTHERWISE STATED) Unaudited condensed interim consolidated financial statements 17 7. DISTRIBUTIONS PAID OR PROVIDED FOR (CONTINUED) The total distributions approved and recorded in equity for the period ended September 30, 2026 amounted to $1,953.5 million (2025: $1,395.3 million). 8. PROFIT/(LOSS) AFTER TAX PER CBFI 9. EQUITY-ACCOUNTED INVESTEES MMREIT Retail Trust III entered into two joint arrangements with Grupo Frisa through which it acquired a 50% interest in two joint venture trusts (“JV Trusts”). These have been classified as joint venture trusts under IFRS 11 – Joint Arrangements as MMREIT Retail Trust III has a right to 50% of the net assets of the JV Trusts. The debt used to finance the purchase of the assets held by the JV Trusts is at the JV Trust level. FIBRA Macquarie and/or MMREIT Retail Trust III have an exposure in relation to this debt solely in their capacity as joint obligors and only in exceptional circumstances which do not currently exist. MMREIT Industrial Trust VII entered into a joint venture agreement with Residencias Habitacionales de Tijuana, S.A. de C.V. and Promotora de Casas Habitacionales de Tijuana, S.A. de C.V. This has been classified as a joint venture trust under IFRS 11 - Joint Arrangements. In addition to the initial contributions, FIBRA Macquarie will contribute capital to fund the development of industrial property on the land parcel. a) Carrying amounts 1 On May 14, 2026, following the substitution of the trustee, Trust CIB/586 was redesignated as Banco Ve Por Más, F/1896 . Sep 30, 2026 Sep 30, 2025 Sep 30, 2026 Sep 30, 2025 $’000 $’000 $’000 $’000 Profit/(loss) after tax per CBFI Basic and diluted profit/(loss) per CBFI ($) 1.11 (0.96) 2.44 (3.12) Net profit/(loss) after tax attributable to controlling interests for basic earnings per CBFI ($'000) 888,508 (761,458) 1,947,251 (2,485,184) 797,311 797,311 797,311 797,311 9 months ended Basic and diluted profit/(loss) used in the calculation of earnings per CBFI Weighted average number of CBFIs used as the denominator in calculating basic earnings per CBFI ('000) 3 months ended Ownership interest Ownership interest Name of the entity Country of establishment / Principal activity as of Sep 30, 2026 as of Dec 31, 2025 Sep 30, 2026 $’000 Dec 31, 2025 $’000 JV Trust CIB/589 México / 50% 50% 404,795 446,422 Own and lease retail properties JV Trust F/18961 México / 50% 50% 1,294,527 1,155,406 Own and lease retail properties JV Trust F/311170 México / Own industrial land 37% 15% 227,259 68,241 Total equity accounted investees 1,926,581 1,670,069
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FIBRA MACQUARIE MÉXICO AND ITS CONTROLLED ENTITIES NOTES TO THE UNAUDITED CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) CURRENCY AMOUNTS EXPRESSED IN THOUSANDS OF MEXICAN PESOS (UNLESS OTHERWISE STATED) Unaudited condensed interim consolidated financial statements 18 9. EQUITY-ACCOUNTED INVESTEES (CONTINUED) b) Movement in carrying amounts 1 Relates to a capital contribution in respect of certain capital expenditures at the JV Trust level. c) Summarized financial information for joint ventures The table below provides summarized financial information for the JV Trusts since these are material to the Group. The information disclosed reflects the amounts presented in the financial statements of the JV Trusts and not FIBRA Macquarie's share of those amounts. Thes e have been amended to reflect adjustments made by the Group using the equity method including adjustments and modifications for differences in accounting policy between FIBRA Macquarie and the JV Trusts. ¹ Includes cash and cash equivalents of $39.9 million (2025: $35.3 million). ² Includes restricted cash as non-current asset of $0 million (2025: $52.5 million). ³ Current and non -current financial liabilities (excluding trade and other payables and provisions) amounts to $ 1,121.2 million (2025: $1,129.0 million). 1 During the nine months ended as of September 30, 2026, FIBRA Macquarie paid VAT on behalf of the JV Trusts amounting to $ 22.2 million (2025: $23.0 million). These recoverable amounts have been settled against the distributions received by FIBRA Macquarie from the JV Trusts. Sep 30, 2026 Dec 31, 2025 $’000 $’000 Carrying amount at the beginning of the period/year 1,670,069 1,529,360 Capital contribution during the period/year 1 160,875 79,949 Distributions received during the period/year (88,637) (111,947) Share of profits from equity-accounted investees 100,714 100,115 Share of unrealized foreign exchange loss on investment properties (38) (4,294) Share of revaluation gain on investment properties measured at fair value 83,598 76,886 Carrying amount at the end of the period/year 1,926,581 1,670,069 JV Trust CIB/589 JV Trust CIB/589 JV Trust F/1896 JV Trust F/1896 Condensed Statement of Financial Position Sep 30, 2026 Dec 31, 2025 Sep 30, 2026 Dec 31, 2025 $’000 $’000 $’000 $’000 Total current assets1 50,724 53,880 63,924 43,225 Total non-current assets2 765,491 845,360 3,798,103 3,544,267 Total current liabilities 3 - - (98,305) (82,568) Total non-current liabilities 3 (6,625) (6,396) (1,174,668) (1,194,111) Net assets 809,590 892,844 2,589,054 2,310,813 JV Trust CIB/589 JV Trust CIB/589 JV Trust F/1896 JV Trust F/1896 Condensed Statement of Financial Position Sep 30, 2026 Dec 31, 2025 Sep 30, 2026 Dec 31, 2025 $’000 $’000 $’000 $’000 Reconciliation to carrying amounts: Opening net assets for the period/year1 892,844 922,104 2,310,813 2,136,616 Net movements for the period/year (83,254) (29,260) 278,241 174,197 Net assets 809,590 892,844 2,589,054 2,310,813 FIBRA Macquarie's share (%) 50% 50% 50% 50% FIBRA Macquarie's share ($) 404,795 446,422 1,294,527 1,155,406 FIBRA Macquarie's carrying amount 404,795 446,422 1,294,527 1,155,406
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FIBRA MACQUARIE MÉXICO AND ITS CONTROLLED ENTITIES NOTES TO THE UNAUDITED CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) CURRENCY AMOUNTS EXPRESSED IN THOUSANDS OF MEXICAN PESOS (UNLESS OTHERWISE STATED) Unaudited condensed interim consolidated financial statements 19 9. EQUITY-ACCOUNTED INVESTEES (CONTINUED) c) Summarized financial information for joint ventures (continued) JV Trust CIB/589 JV Trust CIB/589 JV Trust F/1896 JV Trust F/1896 9 months ended 9 months ended 9 months ended 9 months ended Condensed Income Statement Sep 30, 2026 Sep 30, 2025 Sep 30, 2026 Sep 30, 2025 $’000 $’000 $’000 $’000 Income: Property related and other income 74,417 94,078 379,223 347,915 Unrealized gain on interest rate swaps - - 13,716 - Unrealized revaluation gain of investment properties measured at fair value - 40,376 247,537 139,254 Interest income 171 450 4,074 5,357 Total income 74,588 134,904 644,550 492,526 Expenses: Finance costs - - (98,146) (97,942) Unrealized loss on interest rate swaps - - - (67,724) Other expenses (47,242) (33,557) (121,137) (118,749) Unrealized revaluation loss of investment properties measured at fair value (80,341) - - - Total expenses (127,583) (33,557) (219,283) (284,415) (Loss)/profit of the period (52,995) 101,347 425,267 208,111 FIBRA Macquarie's share (%) 50% 50% 50% 50% FIBRA Macquarie's share (26,497) 50,674 212,634 104,056 JV Trust F/311170 JV Trust F/311170 Condensed Statement of Financial Position Sep 30, 2026 Dec 31, 2025 $’000 $’000 Total current assets 111,465 68,693 Total non-current assets 477,385 368,914 Net assets 588,850 437,607 JV Trust F/311170 JV Trust F/311170 Condensed Statement of Financial Position Sep 30, 2026 Dec 31, 2025 $’000 $’000 Reconciliation to carrying amounts: Opening net assets for the period/year 437,607 - Net movements for the period/year 151,243 437,607 Net assets 588,850 437,607 FIBRA Macquarie's share (%) 37% 15% FIBRA Macquarie's share ($) 227,259 68,241 FIBRA Macquarie's carrying amount 227,259 68,241
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FIBRA MACQUARIE MÉXICO AND ITS CONTROLLED ENTITIES NOTES TO THE UNAUDITED CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) CURRENCY AMOUNTS EXPRESSED IN THOUSANDS OF MEXICAN PESOS (UNLESS OTHERWISE STATED) Unaudited condensed interim consolidated financial statements 20 9. EQUITY-ACCOUNTED INVESTEES (CONTINUED) c) Summarized financial information for joint ventures (continued) * On May 23, 2025, FIBRA Macquarie entered into a joint venture agreement with Grupo Frisa. 1 The cumulative loss of $(1,863) reflects the ownership percentage applicable in each quarter: Q3: 37.24%, Q2: 28.21% and Q1: 28.03% in 2026. 2 The cumulative loss of $(2,984) reflects the ownership percentage applicable in each quarter: Q3:15.33%, Q2: 15.30% in 2025. d) Share of contingent liabilities of joint venture As of September 30, 2026 and December 31, 2025, there was no share of contingent liabilities incurred jointly with the joint venture partners and no contingent liabilities of the joint ventures for which FIBRA Macquarie is liable. 10. INVESTMENT PROPERTIES 1 Amount corresponds to the acquisition of land in Tijuana. 2 Amount includes the acquisition of two industrial properties in México City Metropolitan Area (MCMA). 3 Amount includes the disposal of one industrial property in Chihuahua. JV Trust F/311170 JV Trust F/311170 9 months ended 9 months ended Condensed Income Statement* Sep 30, 2026 Sep 30, 2025 $’000 $’000 Income: Interest income 922 - Total income 922 - Expenses: Other expenses (1,249) (373) Net foreign exchange loss on monetary items (6,751) - Net unrealized foreign exchange loss on investment properties (2,555) (19,096) Total expenses (10,555) (19,469) Loss for the period (9,633) (19,469) FIBRA Macquarie's share (%) 37% 15% FIBRA Macquarie's share1,2 (1,863) (2,984) Sep 30, 2026 Dec 31, 2025 Note $’000 $’000 Carrying amount at the beginning of the period/year 58,785,946 64,341,328 Additions during the period/year: Land acquisition1 1,954,782 - Investment properties acquisitions 2 - 1,001,080 Capital expenditure (including tenant improvements) 309,528 193,270 Transfers from investment properties under construction 596,351 374,390 Investment properties under construction 10(a) 165,934 178,159 (272,312) (6,466,077) Disposal of investment property 3 - (199,979) 22,823 (655,468) Leasing commissions, net of amortization (14,996) 19,243 Carrying amount at the end of the period/year 61,548,056 58,785,946 Net unrealized foreign exchange loss on investment properties Unrealized revaluation gain/(loss) on investment properties measured at fair value
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FIBRA MACQUARIE MÉXICO AND ITS CONTROLLED ENTITIES NOTES TO THE UNAUDITED CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) CURRENCY AMOUNTS EXPRESSED IN THOUSANDS OF MEXICAN PESOS (UNLESS OTHERWISE STATED) Unaudited condensed interim consolidated financial statements 21 10. INVESTMENT PROPERTIES (CONTINUED) a) Investment propert ies under construction* * Investment properties under construction are initially recognized at cost since the fair value of these properties under construction cannot reasonably be measured at that date. At year-end or date of completion if the property is finalized, whichever is earlier, any difference between the initial recognition and the fair value at that date will be recognized in the statement of income. b) Asset-by-asset valuation The valuation of investment properties is carried out on a quarterly basis by a qualified valuation specialist independent of FIBRA Macquarie (the "Independent Valuer"). CBRE México, an internationally recognized valuation and advisory firm with relevant expertise and experience, was engaged as the Independent Valuer to conduct an independent appraisal of FIBRA Macquarie's investment properties for the period ended September 30, 2026 and December 31, 2025. The valuation methods – comparable transactions, market value and capitalization analysis – are applied by the Independent Valuer in order to estimate th e market value of the acquired properties applying primarily an income analysis, using direct capitalization as well as discounted cash flow analysis. The fair value for all investment properties was determined based on the inputs to the valuation techniques mentioned below. Investment property is classified as level 3. The significant inputs and assumptions in respect of the valuation process are developed in consultation with Management. The inputs used in the valuations as of September 30, 2026 and December 31, 2025 were as follows: - The range of reversionary capitalisation rates applied to the portfolio were between 6.75% and 10.25% (2025: 6.75% and 10.25%) for industrial and between 9.25% and 11.50% (2025: 9.25% and 12.00%) for retail properties. - The discount rates applied range between 8.25% and 12.00% (2025: 8.25% and 11.75%) for industrial properties and 11.75% and 14.50% (2025: 11.75% and 14.50%) for retail properties. - The vacancy rate applied was from 2.00% and 5.00% (2025: 2.00% and 5.00%), with a weighted average of 4.61% (2025: 4.48%) for industrial properties and between 5.00% and 15.00% (2025: 5.00% and 30.00%), with a weighted average of 10.51% (2025: 11.49%) for retail properties. The estimated fair value increases if the estimated rents increase, vacancy levels decrease or if discount rates (market yields) and reversionary capitalisation rates decrease. The valuations are sensitive to all three assumptions. Changes in discount rates attributable to changes in market conditions can have a significant impact on property valuations. The difference between the above fair value for financial reporting purposes and the carrying value at the end of the period is primarily on account of capitalized leasing costs and tenant improvements which are carried at historical cost and amortized. Sep 30, 2026 Dec 31, 2025 $’000 $’000 Carrying amount at the beginning of the period/year 1,308,656 1,130,497 Capital expenditure 762,285 552,549 Transfer to completed investment properties (596,351) (374,390) Carrying amount at the end of the period/year 1,474,590 1,308,656
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FIBRA MACQUARIE MÉXICO AND ITS CONTROLLED ENTITIES NOTES TO THE UNAUDITED CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) CURRENCY AMOUNTS EXPRESSED IN THOUSANDS OF MEXICAN PESOS (UNLESS OTHERWISE STATED) Unaudited condensed interim consolidated financial statements 22 11. INTEREST-BEARING LIABILITIES 1 On September 30, 2026, the Group fully repaid the outstanding notes issued through various insurance companies totalling US$7 5.0 million, equivalent to $1,337.8 million (December 31, 2025: $1,347.2 million). The drawn credit facilities are summarized as follows: 1 Fixed by interest rate swap. Refer to note 12. 2 Forty-nine industrial properties are secured pursuant to this Term Loan. 3 On April 16, 2026, July 15, 2026, September 21, 2026 and September 29, 2026, FIBRA Macquarie had four drawdowns US$15.0 million, US$35.0 million, US$25.0 million and US$75.0 million, respectively under the uncommitted revolver credit facility with BBVA Mexico. 4 Sixteen industrial properties are secured pursuant to this Term Loan. * All interest rates are inclusive of applicable withholding taxes. Sep 30, 2026 Dec 31, 2025 $’000 $’000 The Group has access to: Loan facilities - undrawn Undrawn US$ 9,366,683 11,049,521 Undrawn MXN 899,625 899,625 Total undrawn loan facilities 10,266,308 11,949,146 Loan facilities - drawn US$-denominated term funding 22,926,070 19,493,870 US$-denominated notes 1 - 1,347,503 Unamortized transaction costs (176,007) (188,658) Total drawn loan facilities, net of unamortized transaction costs 22,750,063 20,652,715 Facility Drawn Carrying Amount Limit Amount Interest Maturity Sep 30, 2026 Lenders / Facility Type Currency $'million $'million Rate p.a.* Date $’000 MetLife - Term Loan2 US$ 210.0 210.0 5.38% Oct-27 3,743,793 Banco Mercantil del Norte - Term Loan US$ 100.0 100.0 5.73%1 Jun-28 1,777,104 Banco Nacional de Comercio Exterior - Term Loan US$ 150.0 150.0 5.62%1 Jun-28 2,668,799 Various Banks through a Credit Facility -Term Loan US$ 150.0 150.0 5.06%1 Aug-29 2,635,507 Various Banks through a Credit Facility -Term Loan US$ 250.0 250.0 4.84%1 Dec-30 4,394,877 International Finance Corporation (IFC) - Term Loan US$ 50.0 50.0 5.13%1 Mar-31 884,057 BBVA México - Revolving Credit Facility 3 US$ 200.0 150.0 90-day SOFR + 1.05% Apr-31 2,675,718 International Finance Corporation (IFC) - Term Loan US$ 150.0 150.0 5.65%1 Jun-31 2,645,675 MetLife - Term Loan4 US$ 75.0 75.0 5.23% Jun-34 1,324,533 Balance at the end of the period 1,335.0 1,285.0 22,750,063
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FIBRA MACQUARIE MÉXICO AND ITS CONTROLLED ENTITIES NOTES TO THE UNAUDITED CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) CURRENCY AMOUNTS EXPRESSED IN THOUSANDS OF MEXICAN PESOS (UNLESS OTHERWISE STATED) Unaudited condensed interim consolidated financial statements 23 11. INTEREST-BEARING LIABILITIES (CONTINUED) 1 Classified as interest-bearing liabilities current as of December 31, 2025. 2 Forty-nine industrial properties are secured pursuant to this Term Loan. 3 Fixed by interest rate swap. Refer to note 12. 4 On December 19, 2025, FIBRA Macquarie has a drawdown US$250.0 million under the new Term Loan. 5 Sixteen industrial properties are secured pursuant to this Term Loan. * All interest rates are inclusive of applicable withholding taxes. Reconciliation of interest-bearing liabilities to cash flows arising from financing activities: 12. DERIVATIVE FINANCIAL INSTRUMENTS FIBRA Macquarie has entered into several interest rate swap agreements with various counterparties, whereby the Group pays an annual weighted average fixed rate of interest on its respective interest rate swap contracts and receives a variable interest rate based on three-months US$ SOFR settled on a quarterly basis. Facility Drawn Carrying Amount Limit Amount Interest Maturity Dec 31, 2025 Lenders / Facility Type Currency $'million $'million Rate p.a.* Date $’000 Various Insurance Companies through Notes1 US$ 75.0 75.0 5.71% Sep-26 1,347,237 MetLife - Term Loan2 US$ 210.0 210.0 5.38% Oct-27 3,768,248 Banco Mercantil del Norte - Term Loan US$ 100.0 100.0 5.73%3 Jun-28 1,787,115 Banco Nacional de Comercio Exterior - Term Loan US$ 150.0 150.0 5.62%3 Jun-28 2,684,530 Various Banks through a Credit Facility - Term Loan US$ 150.0 150.0 5.06%3 Aug-29 2,645,108 Various Banks through a Credit Facility - Term Loan 4 US$ 250.0 250.0 4.84%3 Dec-30 4,427,088 International Finance Corporation (IFC) - Term Loan US$ 150.0 150.0 5.65%3 Jun-31 2,660,612 MetLife - Term Loan5 US$ 75.0 75.0 5.23% Jun-34 1,332,777 Balance at the end of the year 1,160.0 1,160.0 20,652,715 Interest-bearing liabilities non-current 1,085.0 1,085.0 19,305,478 Sep 30, 2026 Dec 31, 2025 $’000 $’000 20,652,715 20,568,886 Changes from financing cash flows: (1,337,832) (2,953,752) 3,518,403 5,926,960 Total changes for financing cash flow 2,180,571 2,973,208 (94,698) (2,811,733) (21,029) (121,682) 32,504 44,036 Carrying amount at the end of the period/year 22,750,063 20,652,715 Liability-related other changes: Carrying amount at the beginning of the period/year Amortization of capitalized borrowing costs Proceeds from interest-bearing liabilities, net of facility charges Repayments of interest-bearing liabilities Total effect of changes in foreign exchange rate Transaction cost on loans
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FIBRA MACQUARIE MÉXICO AND ITS CONTROLLED ENTITIES NOTES TO THE UNAUDITED CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) CURRENCY AMOUNTS EXPRESSED IN THOUSANDS OF MEXICAN PESOS (UNLESS OTHERWISE STATED) Unaudited condensed interim consolidated financial statements 24 12. DERIVATIVE FINANCIAL INSTRUMENTS (CONTINUED) Below, there is a summary of the terms and fair value of the agreements. 13. CONTRIBUTED EQUITY The Group currently has an active CBFI buy - back program which since the inception has been approved by the Technical Committee of FIBRA Macquarie. On April 10, 2026, the extension of this program was approved through June 25, 2027. From the inception of the CBFI buy -back program to September 30, 2026, a total of 50,074,481 CBFIs, amounting to $1,066.0 million (including transaction costs), have been repurchased. During the period ended September 30, 2026, no CBFIs were repurchased. 14. NON-CONTROLLING INTEREST On September 14, 2020, FIBRA Macquarie , through a wholly -owned investment trust, completed the acquisition of 50% equity in a joint venture trust ("F/3493") with Inmobiliaria Alamedida (the “F/3493 JV Partner”) for a total consideration of US$12.2 million. FIBRA Macquarie conducted a control assessment under IFRS 10 and concluded that it has control over F/3493, and therefore, should apply consolidation accou nting and reflect the ownership of F/3493 JV Partner as non - controlling interests in its unaudited condensed interim consolidated financial statements. The following table summarizes the non-controlling interest and the consolidated entities total assets and liabilities. Trade Maturity Notional Fixed interest rate Sep 30, 2026 Dec 31, 2025 date date amount Sep 30, 2026 $’000 $’000 Various Banks Jun 23, 2023 Jun 30, 2028 US$150.0 million 3.82% 38,307 (34,450) Banorte Jun 23, 2023 Jun 30, 2028 US$100.0 million 3.83% 24,217 (23,475) Various Banks Aug 25, 2025 Sep 28, 2029 US$150.0 million 3.38% 102,537 (2,046) Various Banks Dec 19, 2025 Dec 19, 2030 US$250.0 million 3.24% 258,676 39,072 BNP Paribas Jan 15, 2026 Mar 15, 2031 US$ 25.0 million 3.55% 21,482 - J.P. Morgan SA Mar 26, 2026 Mar 15, 2031 US$ 25.0 million 3.71% 18,653 - Various Banks Jul 22, 2024 Jun 27, 2031 US$150.0 million 3.80% 107,477 (46,125) Total estimated fair value US$850.0 million 571,349 (67,024) Counterparties No. of CBFIs ’000 $’000 Balance at January 1, 2025 797,311 18,506,916 CBFIs outstanding as of December 31, 2025 797,311 18,506,916 Balance at January 1, 2026 797,311 18,506,916 CBFIs outstanding as of September 30, 2026 797,311 18,506,916 Non-controlling Interest As of September 30, 2026 percentage $'000 $'000 $'000 JV Trust F/3493 25% 616,793 2,910,619 (142,673) 616,793 2,910,619 (142,673) Non-controlling Total Assets Total Liabilitiesownership Non-controlling Interest As of December 31, 2025 percentage $'000 $'000 $'000 JV Trust F/3493 25% 598,393 2,841,467 (147,119) 598,393 2,841,467 (147,119) Non-controlling Total Assets Total Liabilitiesownership
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FIBRA MACQUARIE MÉXICO AND ITS CONTROLLED ENTITIES NOTES TO THE UNAUDITED CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) CURRENCY AMOUNTS EXPRESSED IN THOUSANDS OF MEXICAN PESOS (UNLESS OTHERWISE STATED) Unaudited condensed interim consolidated financial statements 25 15. FAIR VALUES OF FINANCIAL ASSETS AND LIABILITIES The Group measures the following assets and liabilities at fair value and further information about the assumptions made in measuring fair values is included in the following notes: - Investment properties (note 10). - Derivative financial instruments (note 12). Fair value reflects the amount for which an asset could be exchanged, or a liability settled, between knowledgeable, willing parties in an arm’s length transaction. Quoted prices or rates are used to determine fair value where an active market exists. If t he market for a financial instrument is not active, fair values are estimated using present value or other valuation techniques, using inputs based on market conditions prevailing on the measurement date. The values derived from applying these techniques are affected by the choice of valuation model used and the underlying assumptions made regarding inputs such as timing and amounts of future cash flows, discount rates, credit risk, volatility and correlation. The investment propert ies’ valuations were determined using discounted cash flow projections, based on significant unobservable inputs. These inputs include: - Future rental cash flows: based on the location, type and quality of the properties and supported by the terms of any existing lease or other contracts or external evidence such as current market rents for similar properties; - Discount rates: reflecting current market assessments of the uncertainty in the amount and timing of cash flows; - Vacancy rates: based on current and expected future market conditions after expiry of any current leases; - Maintenance costs: including necessary investments to maintain functionality of the property for its expected useful life; - Capitalisation rates: based on location, size and quality of the properties and taking into account market data at the valuation date; and - Terminal value: taking into account assumptions regarding maintenance costs, vacancy rates and market rents. Management regularly reviews significant unobservable inputs and valuation adjustments. If third party information, such as broker quotes or pricing services, is used to measure fair value, then Management assesses the evidence obtained from the third parties to support the conclusion that these valuations meet the requirements of IFRS, including the level in the FV hierarchy in which the valuations should be classified. Significant valuation issues are reported to the Technical Committee. The fair value of derivative financial instruments is calculated as the present value of the estimated future cash flows. Estimates of future floating-rate cash flows are based on quoted swap rates, futures prices and interbank borrowing rates. Estimated cash flows are discounted using a yield curve constructed from similar sources and which reflects the relevant benchmark interbank rate used by market participants for this purpose when pricing interest rate swaps. Financial instruments measured at fair value are categori sed in their entirety, in accordance with the levels of the fair value hierarchy as outlined below: Level 1 – quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2 – inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices); Level 3 – inputs for the asset or liability that are not based on observable market data (unobservable inputs). The appropriate level for an instrument is determined on the basis of the lowest level input that is significant to the fair value measurement.
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FIBRA MACQUARIE MÉXICO AND ITS CONTROLLED ENTITIES NOTES TO THE UNAUDITED CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) CURRENCY AMOUNTS EXPRESSED IN THOUSANDS OF MEXICAN PESOS (UNLESS OTHERWISE STATED) Unaudited condensed interim consolidated financial statements 26 15. FAIR VALUES OF FINANCIAL ASSETS AND LIABILITIES (CONTINUED) The following table sets out the fair value of financial instruments (net of unamortized transaction costs) not measured at fair value and analyses them by the level in the fair value hierarchy into which each fair value measurement is categorised: * As of September 30, 2026 and December 31, 2025 the unamortized transaction cost of the debt was $ 176.0 million and $188.6 million, respectively. The following table summarizes the levels of the fair value hierarchy for financial instruments measured at fair value of the Group: The fair value of the interest rate swaps is based on independent third -party broker quotes. Those quotes are tested for reasonableness by discounting estimated future cash flows based on the term and maturity of each contract and using market interest rates for a similar instrument at the measurement date. The fair value of the interest rate swaps reflects the credit risk of the instrument and include s adjustments to take account of the credit risk of the Group entity and counterparty, where appropriate. The following table presents the changes in level 3 of the fair value hierarchy for the Group: Level 2 Total fair value Total carrying amount As of September 30, 2026 $’000 $’000 $’000 Trade and other receivables, net 97,592 97,592 97,592 Interest-bearing liabilities* (22,287,013) (22,287,013) (22,750,063) As of December 31, 2025 Trade and other receivables, net 254,436 254,436 254,436 Interest-bearing liabilities* (20,453,567) (20,453,567) (20,652,715) Level 1 Level 2 Level 3 Total As of September 30, 2026 $’000 $’000 $’000 $’000 Derivative financial instruments, net - 571,349 - 571,349 Investment properties - - 61,548,056 61,548,056 As of December 31, 2025 Derivative financial instruments, net - (67,024) - (67,024) Investment properties - - 58,785,946 58,785,946 Sep 30, 2026 Dec 31, 2025 $’000 $’000 Balance at the beginning of the period/year 58,785,946 64,341,328 Capital expenditure/leasing commission, net of amortization 1,056,817 765,062 Land acquisition 1,954,782 - Investment properties acquisitions - 1,001,080 Disposal of investment property - (199,979) (272,312) (6,466,077) 22,823 (655,468) 61,548,056 58,785,946 Balance at the end of the period/year Unrealized revaluation gain/(loss) on investment properties measured at fair value Net unrealized foreign exchange loss on investment properties
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FIBRA MACQUARIE MÉXICO AND ITS CONTROLLED ENTITIES NOTES TO THE UNAUDITED CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) CURRENCY AMOUNTS EXPRESSED IN THOUSANDS OF MEXICAN PESOS (UNLESS OTHERWISE STATED) Unaudited condensed interim consolidated financial statements 27 16. LEASES Agreements entered into by the Group and its tenants have been classified as operating leases under IFR S 16. The Group is the lessor of the leases entered into with third parties in respect of its investment properties. Of the leases entered into by the Group, there are certain contracts that are fixed-term leases which include renewal options exercisable by the respective tenant. Notwithstanding these particular leases, the lease agreements entered into by the Group have expiration dates ranging from September 30, 2026 to November 05, 2044. Where the minimum lease payments are considered to be the net accumulated rent over the lease term, which is defined as the earliest possible termination date available to the tenant, irrespective of the probability of the tenant terminating or not exercising available renewal options; the minimum lease payments to be received by the Group going forward are as laid out below: *Amount translated to USD for presentation purposes only. 17. RELATED PARTIES FIBRA Macquarie is listed on the Mexican Stock Exchange and its CBFIs are understood by the Manager to be widely held. The following summary provides an overview of the Group's key related parties: a) Transactions with key management personnel The key management personnel in respect of the Group are employed and remunerated by the Manager. b) Trustee Since the execution of the Trustee Substitution Agreement on July 18, 2025, HSBC México, S.A., Institución de Banca Múltiple, Grupo Financiero HSBC, División Fiduciaria is the FIBRA Macquarie Trustee. HSBC registered office is at Av. Paseo de la Reforma 347, Cuauhtémoc, Alcaldía Cuauhtémoc, México City, 06500. The trustee of the Investment Trusts is HSBC México, S.A., Institución de Banca Múltiple, Grupo Financiero HSBC, División Fiduciaria (“Investment Trust Trustee”). The two other trustees of the Investment Trusts within the Group are Banco Nacional de México, S.A., which forms part of Grupo Financiero Banamex and Banco Monex, S.A. Institución de Banca Múltiple, Monex Grupo Financiero. For the three and nine months ended September 30, 202 6, the trustee fees for the Group amounted to $1.5 million (2025: $2.7 million) and $4.6 million (2025: $5.3 million) respectively. c) Manager MAM México, acts as Manager of FIBRA Macquarie and has its registered office at Pedregal 24, piso 21, Col. Molino del Rey, Miguel Hidalgo, 11040, México City. Under the terms of the Management Agreement, MAM México, is entitled to a base management fee of $76.6 million (2025: $63.3 million) and $213.8 million (2025: $188.1 million) for the three and nine months ended September 30, 2026. The base management fee is calculated as 1% per annum of the value of the market capitalization of FIBRA Macquarie for the relevant calculation period. The fee is calculated on April 1 st and October 1 st respectively for the subsequent six months period. The market capitalization is calculated as the product of: (i) the average closing price per CBFI during the last 60 trading days prior to the calculation date and, (ii) the total number of outstanding CBFIs at the close of trading on the calculation date. As of September 30, 2026 <1 year 1-5 years >5 years Total US$'000 US$'000 US$'000 US$'000 192,997 387,545 51,061 631,603 29,963 50,735 26,619 107,317 USD denominated minimum future lease collections *Peso denominated minimum future lease collections
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FIBRA MACQUARIE MÉXICO AND ITS CONTROLLED ENTITIES NOTES TO THE UNAUDITED CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) CURRENCY AMOUNTS EXPRESSED IN THOUSANDS OF MEXICAN PESOS (UNLESS OTHERWISE STATED) Unaudited condensed interim consolidated financial statements 28 17. RELATED PARTIES (CONTINUED) c) Manager (continued) MAM México is also entitled to receive a performance fee, which is calculated as 10% of an amount comprising the market capitalization, per above, plus the aggregate amount of all distributions made to CBFI holders, increased at a rate equal to the aggregate of 5% per annum and an annual cumulative Mexican inflation rate from their respective payment dates, minus the aggregate issuance price of all issuances of CBFIs, plus the aggregate amount of all repurchases of CBFIs, in each case, increased at a rate e qual to the aggregate of 5% per annum and the annual cumulative Mexican inflation rate from their respective issuance or repurchase dates, less any performance fees previously paid. This potential fee is payable on the last business day of each two-year period commencing on March 19, 2012. As of September 30, 2026 no performance fee was payable by FIBRA Macquarie. On June 29, 2026, FIBRA Macquarie was notified that MAM México, Macquarie Infrastructure and Real Assets Holding s Pty Limited and FIBRA MTY had entered into an Internalization Agreement pursuant to which, subject to the satisfaction of certain conditions, the existing management arrangements of FIBRA Macquarie may be terminated and the management of FIBRA Macquarie i nternalized. The agreement may have implications for the existing arrangements between FIBRA Macquarie and the Manager, including certain fee -related matters. The Internalization Agreement remains subject to the satisfaction of certain conditions and, acco rdingly, no changes to the existing management arrangements ha ve become effective as of September 30, 2026. On August 11, 2026, the holders approved the resignation of Macquarie Asset Management México, S.A. de C.V. as manager of the Trust, the acceptance of such resignation by the Trustee, and the appointment of Administrador F IBRA MTY, S.C. as substitute manager. The effectiveness of these actions is subject to the closing of the internalization transaction contemplated by the Internalization Agreement dated June 26, 2026. As of the date these financial statements were authorized for issuance, the transaction had not closed and, accordingly, no adjustments have been recognized in these financial statements in respect of such matter. d) Other associated entities During the three and nine months ended September 30, 2026, the Group accrued a total of $0.8 million (2025: $0.7 million) and $3.9 million (2025: $4.2 million) respectively, in respect of out of pocket expenses incurred by affiliate entities of M AM México, in performance of its duties as Manager. As of September 30, 2026, Macquarie Infrastructure and Real Assets Holdings Pty Limited, an affiliate entity of MAM México, held 38,597,476 CBFIs and received a total distribution equivalent to $118.2 million during the period ended September 30, 2026 (2025: $87.8 million) From time to time, other related subsidiaries, or associates of Macquarie Group Limited may hold CBFIs on their own account or on account of third parties. 18. EVENTS AFTER BALANCE SHEET DATE The Technical Committee of FIBRA Macquarie has evaluated all subsequent events at the date of these unaudited condensed interim consolidated financial statements and has determined that there are no subsequent events requiring recognition or disclosure.