Earnings release
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www.pemex.com 1 of 36 2026. Petróleos Mexicanos. All rights reserved.
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1. Key Highlights l 2Q26 www.pemex.com 2 of 36 2026. Petróleos Mexicanos. All rights reserved. Mexico City, July 31, 2026 During the second quarter of 2026 (2Q26), PEMEX re corded favorable operational and financial results across its core business segments. Against a backdrop of international energy market volatility, the Company maintained operational continuity, increased industrial processing volumes, supported domestic market supply, and advanced its financial objectives. In Exploration and Production, total hydrocarbon production averaged 2,447 thousand barrels of oil equivalent per day (Mboed), representing a 4.6% increase compared with 2Q25. Liquid hydrocarbon production reached 1,658 thousand barrels per day (Mbd), supp orted by higher output from fields such as Ixachi, Bakté, Itta, Koban, and Maloob, as well as actions to incorporate incremental volumes and mitigate the natural decline of mature fields. Natural gas production totaled 4,006 million cubic feet per day (MMcfd), an increase of 11.5%, driven primarily by non - associated gas production and stronger contributions from onshore fields such as Bakté and Ixachi. In Industrial Transformation, crude oil processing at the National Refinin g System (NRS) increased 2.9%, rising from 980 Mbd to 1,008 Mbd. On a year -to-date basis (January-June), crude oil processing increased by 12.3% to 1,074 Mbd. Total petroleum products output in 2Q26 rose 3.4%, with notable increases in diesel (+19.3%), gasoline (+2.9%), and jet fuel (+2.3%), strengthening the domestic supply of transportation fuels. This performance was also reflected in the domestic market. Sales volumes of refined products increased 9.8%, rising from 1,339 Mbd in 2Q25 to 1,471 Mbd in 2Q26. Gasoline sales increased 11.4%, while diesel sales grew 19.1%, reinforcing PEMEX's role in supplying strategic products for transportation, logistics, industry, and the domestic economy. On the financial front, revenue from sales and services increased 30.3% year -over-year to MXN 510.4 billion during the second quarter of 2026. Gross profit reached MXN 139.7 billion, while operating result improved from a net loss of MXN 11.1 billion in 2Q25 to a net profit of MXN 85.5 billion. PEMEX reported net income of MXN 18.0 billion and EBITDA of MXN 144.2 billion, up 89.9% compared with 2Q25. Regarding financial discipline, total debt stood at USD 77.5 billion as of June 30, 2026, representing a 9.1% reduction compared with year-end 2025. In addition, the share of short -term debt decreased to 16% of total debt, strengthening the Company's financial profile. In ESG matters, PEMEX signed a cooperation agreement with Mexico's National Institute of Ecology and Climate Change (INECC) to advance joint initiatives in environmental protection, pollutant monitoring, and air quality. In governance, PEMEX ranked first in the 2026 Corporate Integrity 500 (IC500) ranking, reinforcing its leadership in corporate ethics and business transparency. Finally, PEMEX and Petrobras signed a Memorandum of Understanding establishing a framework for technical and strategic cooperation in exploration, production, and industrial processes, including potential collaboration in mature fields, deepwater and ultra-deepwater operations, refining, petrochemicals, fertilizers, gas processing, liquids recovery, energy efficiency, and emissions reduction. Liquid Hydrocarbons 1 1,658 Mbd Natural Gas Production 4,006 MMcfd Crude Oil Processing 1,008 Mbd EBITDA MXN 144.2 billion Long-Term Credit Rating in Foreign Currency Agency Rating Outlook S&P BBB Negative Moody’s B1 Stable Fitch BB+ Stable HR Ratings BBB+ Stable R&I BBB+ Stable Investor Relations | Tel (52) 55 9126 2940 | ri@pemex.com | www.pemex.com/en/investors 1 Includes crude oil, condensate, and production from partners. Note: From April 1 to June 30, 2026. PEMEX encourages the reader to analyze this document together with the information provided in the annexes to this document , in addition to the transcript of its conference call announcing its quarterly results, to take place on July 31, 2026. Annexes, transcripts, and relevant documents related to this call can be found at www.pemex.com/en/investors.
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2. Financial Summary l 2Q26 www.pemex.com 3 of 36 2026. Petróleos Mexicanos. All rights reserved. Revenues In the second quarter of 2026, revenues from sales and services amounted to MXN 510.4 billion, a 30.3% year-over- year increase, driven primarily by higher export sales resulting from increased crude oil marketing prices and higher distillate volumes, as well as higher domestic sales of diesel, Magna gasoline, and jet fuel due to increased volumes and prices. Cost of Sales Cost of sales, including the effect of impairment of fixed assets, totaled MXN 370.7 billion, an 8.6% YoY increase. This was mainly attributable to higher product purchases, greater inventory variation, and higher charges related to right-of-use asset impairment, depreciation, and amortization. These effects were partially offset by lower fixed-asset impairment charges, fewer unsuccessful wells, lower third-party crude oil purchases, and reduced conservation and maintenance expenses. Taxes and Duties In 2Q26, total taxes and duties, including the Welfare Oil Duty, amounted to MXN 70.3 billion, compared with MXN 47.3 billion in the same period of 2025. The increase was mainly due to a higher oil price used in determining hydrocarbon extraction duties. Net Result During 2Q26, PEMEX reported net income of MXN 18.0 billion, compared with net income of MXN 59.5 billion recorded in 2Q25. This result was primarily driven by higher sales, lower fixed- asset impairment charges, and reduced transportation, distribution, selling, and administrative expenses. These effects were partially offset by higher product purchases, increased taxes and duties, higher costs associated with derivative financial instruments, and lower foreign exchange gains. Financial Debt As of June 30, 2026, financial debt stood at USD 77.5 billion, representing a 11.6% decrease compared with year-end 2025. Translated at an exchange rate of MXN 17.4700 per USD 1.00, this amount was equivalent to approximately MXN 1.353 trillion. Financial Resources PEMEX has revolving credit facilities for liquidity management totaling USD 4.15 billion and MXN 19.0 billion. As of June 30, 2026, USD 3.35 billion remained available, along with the full amount of the peso-denominated facilities. EBITDA In 2Q26, EBITDA amounted to MXN 144.2 billion, representing a 89.9% increase compared with 2Q25, primarily associated with higher sales and the operating performance of the period. CAPEX As of June 30, 2026, PEMEX had invested MXN 48.2 billion, representing 37.2% of total CAPEX. MXN million 2Q25 2Q26 Variation Sales 391,621 510,443 30.3% 118,822 Cost of sales2 341,448 370,734 8.6% 29,286 Gross income (loss) 50,173 139,710 178.5% 89,537 Administration and distribution expenses 62,538 51,411 -17.8% (11,127) Operating income (loss) (11,100) 85,483 870.1% 96,582 Financial cost, income (loss) from derivative financial instruments and other items (16,765) (46,435) -177.0% (29,670) Foreign exchange income (loss) 134,685 49,267 -63.4% (85,418) Taxes, duties, and others3 48,899 72,005 47.3% 23,106 Net income (loss) 59,516 18,024 -69.7% (41,492) EBITDA 75,959 144,231 89.9% 68,272 MXN billion As of December 31, 2025 As of June 30, 2026 Variation Financial debt 1,531 1,353 -11.6% (178) 2 Includes impairment of fixed assets. 3 Includes Welfare Oil Duty
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3. Operating Headlines l 2Q26 www.pemex.com 4 of 36 2026. Petróleos Mexicanos. All rights reserved. Hydrocarbon Production In 2Q26, total hydrocarbon production averaged 2,447 Mboed, an increase of 107 Mboed, or 4.6%, compared to 2Q25. Liquid hydrocarbon4 production reached 1,658 Mbd, up 28 Mbd, or 1.7%, driven mainly by higher output from the Ixachi, Bakté, Itta, Koban and Maloob fields, as well as initiatives to add incremental production and mitigate the natural decline of mature fields. Hydrocarbon gas production averaged 4,006 MMcfd in 2Q26, an increase of 414 MMcfd, or 11.5%, compared to 2Q25. This growth was driven by non-associated gas production, which increased by 443 MMcfd, or 23.2%, mainly reflecting higher output from the onshore Bakté and Ixachi fields. This increase more than offset a 28 MMcfd decline in associated gas production. Crude Oil Processing and Petroleum Products Production Crude oil processing averaged 1,008 Mbd, 2.9% higher than in the same quarter of 2025. This increase was mainly driven by the Tula and Olmeca refineries, which raised their processing levels by 42 Mbd and 21 Mbd, respectively. As a result, petroleum products output increased by 3.4% to 1,029 Mbd. Production of high-value distillates (gasoline, diesel, and jet fuel) reached 649 Mbd, representing 63.0% of total refined products output. Gas Processing and Production In 2Q26, wet gas processing averaged 2,229 MMcfd, a 10.8% increase, driven by higher sour wet gas deliveries in the Southeastern Region and higher sweet wet gas deliveries in the Northern Region. Dry gas production averaged 1,834 MMcfd, up 13.6%, while natural gas liquids production increased 3.5% to 121 Mbd. Upstream 2Q25 2Q26 Variation Total hydrocarbons (Mboed) 2,341 2,447 4.6% 107 Liquid hydrocarbons (Mbd)5 1,631 1,658 1.7% 28 PEMEX's production6 1,614 1,640 1.6% 26 Business partners' production 17 18 6.9% 1 Natural gas (MMcfd)7 4,531 4,930 8.8% 399 PEMEX's production 4,489 4,869 8.5% 380 Business partners' production 42 61 44.0% 19 Downstream 2Q25 2Q26 Variation Crude oil processing (Mbd) 980 1,008 2.9% 28 Dry gas from plants (MMcfd) 1,614 1,834 13.6% 220 Natural gas liquids (Mbd) 117 121 3.5% 4 Petroleum products (Mbd) 995 1,029 3.4% 34 4 Including business partners’ production and condensates produced at fields. 5 Crude oil and condensates 6 Includes production that belongs to the State through Ek-Balam 7 Includes nitrogen.
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4. Prices l 2Q26 www.pemex.com 5 of 36 2026. Petróleos Mexicanos. All rights reserved. Mexican Crude Oil Export Mix 8 In the first half of 2026, the average price of the Mexican Export Mix was USD 81.76 per barrel, 30.2% higher than the average recorded during the first half of 2025. As a result of the conflict involving the United States, Israel, and Iran, crude oil prices continued to rise due to disruptions affecting crude oil production and exports in the region. Toward the end of the period, prices declined following the signing o f a Memorandum of Understanding between the United States and Iran, which allowed for the partial resumption of crude oil flows through the Strait of Hormuz. Gasoline9 The average gasoline benchmark price during the first half of 2026 was USD 121.0 per barrel, 32.1% higher than the level observed during the first half of 2025. Gasoline prices increased during the period due to the conflict in the Middle East, higher crude oil prices, and increased risks of supply disruptions. Toward the end of the period, prices declined as supply conditions improved and oil tankers resumed transit through the Strait of Hormuz. Diesel9 During the first half of 2026, the average diesel benchmark price was USD 135.6 per barrel, 41.2% higher than the level recorded during the first half of 2025. Diesel prices increased due to the closure of the Strait of Hormuz, which reduced diesel availability in the region and created imbalances in the European and Asian markets. In addition, during the second quarter of 2026, prices faced further upward pressure from lower Russian diesel exports resulting from damage to refining infrastructure caused by Ukrainian drone attacks. 8 Source: PEMEX, Petroleum Statistics (www.pemex.com/en) 9 Source: U.S. Energy Information Administration (www.eia.gov) 40 50 60 70 80 90 100 110 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec USD/b 2025 2026 40 60 80 100 120 140 160 180 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec USD/b 2025 2026 40 60 80 100 120 140 160 180 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec USD/b 2025 2026
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5. Strategic developments l 2Q26 www.pemex.com 6 of 36 2026. Petróleos Mexicanos. All rights reserved. PEMEX and INECC Sign Cooperation Agreement on Environmental Protection and Climate Action On May 1, 2026, PEMEX and the National Institute of Ecology and Climate Change (INECC) signed a cooperation agreement aimed at strengthening environmental protection and climate action initiatives. The agreement establishes a framework for information sharing and collaboration in areas such as pollutant monitoring, soil analysis, and air quality assessment. It also promotes the development, integration, and dissemination of scientific and technological research projects related to environmental protection and climate change. PEMEX Announces Appointment of Chief Executive Officer On May 15, 2026, during Extraordinary Session No. 1052, the Board of Directors of Petróleos Mexicanos acknowledged the appointment of Juan Carlos Carpio Fragoso as Chief Executive Officer of the State-Owned Enterprise. Mr. Carpio Fragoso served as PEMEX Chief Financial Officer from October 2024 until his appointment as CEO. Prior to joining PEMEX, he served as Director General of Financial Administration at the Mexico City Ministry of Administration and Finance from 2018 to 2024. He holds a master’s degree in public management from the Center for Economic Research and Teaching (CIDE) and a bachelor’s degree in economics from the National Autonomous University of Mexico (UNAM). PEMEX and Petrobras Sign Memorandum of Understanding to Strengthen Strategic Cooperation On June 23, 2026, PEMEX and Petrobras signed a Memorandum of Understanding (MoU) establishing a framework for technical and strategic cooperation to evaluate opportunities in hydrocarbon exploration and production, as well as industrial operations. The MoU provides for the joint evaluation of projects involving mature fields and deepwater and ultra- deepwater exploration and production in the Gulf of Mexico. It also promotes the exchange of technical expertise, operational experience, and industry best practices. In addition, the agreement identifies potential areas of collaboration in refining, petrochemicals, fertilizers, gas processing, recovery of liquids, energy efficiency, and emissions reduction, among other activities across the value chain. The MoU will remain in effect for two years, with the possibility of renewal. It does not create any binding investment obligations or establish a partnership, consortium, or joint venture between the parties.
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5. Strategic developments l 2Q26 www.pemex.com 7 of 36 2026. Petróleos Mexicanos. All rights reserved. Board of Directors Approves Senior Management Appointments On June 25, 2026, during Extraordinary Session No. 1053, the Board of Directors of Petróleos Mexicanos approved the following appointments: ✓ Elizabeth González Garduño Chief Financial Officer. ✓ Mauricio Camarena Páez Director of Planning, Coordination, Performance and Sustainability. ✓ Salvador Clodoaldo Pineda Hernández Deputy Director of Information and Communications Technologies. ✓ Saúl Rojas Ramírez Deputy Director of Legal Advisory and Contracts. The appointees will perform their duties in accordance with the Organic Statute of Petróleos Mexicanos and applicable regulations. PEMEX Ranked First in the 2026 Corporate Integrity 500 (IC500) Ranking10 On July 16, 2026, Expansión magazine published the results of the 2026 Corporate Integrity 500 (IC500) Ranking, an initiative led by Transparencia Mexicana, Mexicanos Contra la Corrupción y la Impunidad, and Expansión, which evaluates the existence, quality, and disclosure of integrity policies among Mexico’s 500 largest companies. In the 2026 edition, Petróleos Mexicanos achieved a perfect score of 100 points and ranked first overall, maintaining the highest rating it also obtained in 2025. The IC500 index assesses 29 elements related to anti- corruption policies and codes of ethics, grouped into five categories: statement of principles, third-party relationships, training and scope, reporting mechanisms, and information availability. This recognition reflects PEMEX’s commitment to ethics, corporate integrity, transparency, regulatory compliance, and corruption prevention. 10 IC500: el ranking que mide los avances de 'Las 500' en materia de transparencia (Only available in Spanish)
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6. Upstream l 2Q26 www.pemex.com 8 of 36 2026. Petróleos Mexicanos. All rights reserved. 6.1 Liquid Hydrocarbons Production In 2Q26, liquid hydrocarbon production averaged 1,658 Mbd, an increase of 28 Mbd, or 1.7%, compared to 2Q25. This performance was driven mainly by output from the Ixachi, Bakté, Itta, Koban and Maloob fields. The operating strategy focused on accelerating the development of key fields, particularly Ixachi and Bakté, while improving well intervention turnaround times. During the quarter, PEMEX completed 34 development wells and one exploratory well, in addition to performing 41 major workovers, with the aim of adding incremental production. Maintenance activities and initiatives to improve well efficiency were also intensified to mitigate the natural decline of fields such as Zaap, Quesqui, Tupilco, Yaxché and Xanab. To support base production, 546 interventions were carried out, comprising 428 minor workovers and 118 well stimulation treatments. In terms of composition, light crude oil and condensates accounted for 51% of liquid hydrocarbon production, while heavy crude oil represented 49%. By location, 63% of production came from offshore assets and 37% from onshore assets. Liquid Hydrocarbons Production by Type (Mbd) Liquid Hydrocarbons Production by Region Liquid Hydrocarbons Production by Asset 6.2 Hydrocarbon Gas Production In 2Q26, hydrocarbon gas production averaged 4,006 MMcfd, an increase of 414 MMcfd, or 11.5%, compared to 2Q25. This performance continued the recovery trend observed in 2025 and was driven mainly by higher output from the onshore Bakté and Ixachi fields. 50% 49% 49% 49% 49% 24% 26% 24% 24% 24% 10% 9% 10% 10% 9% 16% 17% 17% 17% 18% 1,631 1,648 1,648 1,652 1,658 2Q25 3Q25 4Q25 1Q26 2Q26 Heavy Light Extra-light Condensates 63% 37% Offshore Onshore 32% 17%14% 8% 7% 22% 100% = 1,658 Ku-Maloob-Zaap Litoral de Tabasco Bellota Jujo Veracruz Abkatún-Pol Chuc Other
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6. Upstream l 2Q26 www.pemex.com 9 of 36 2026. Petróleos Mexicanos. All rights reserved. By type, non -associated gas production increased by 443 MMcfd, or 23.2%, compared to 2Q25. This growth more than offset a 2 8 MMcfd decline in associated gas production and accounted for the increase in total gas production. By location, onshore fields accounted for 69% of total production, while shallow -water fields represented the remaining 31%. Natural Gas Production (MMcfd) Natural Gas Production by Type of Field Natural Gas by Asset11 11 Includes nitrogen. 47% 46% 44% 43% 41% 53% 54% 56% 57% 59% 3,592 3,730 3,879 3,925 4,006 2Q25 3Q25 4Q25 1Q26 2Q26 Associated Non-Associated 31% 69% Offshore Onshore 20% 17% 12%12% 11% 27% 100% = 4,930 Veracruz Ku Maloob Zaap Bellota Jujo Cantarell Macuspana Muspac Other
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6. Upstream l 2Q26 www.pemex.com 10 of 36 2026. Petróleos Mexicanos. All rights reserved. Gas Utilization In 2Q26, hydrocarbon gas sent to the atmosphere averaged 778 MMcf/d, an increase of 387 MMcf/d, or 99.0%, compared to 2Q25. This increase was primarily attributable to infrastructure constraints affecting the handling of gas from Ixachi, maintenance activities at Papán, processing restrictions related to high H₂S content at Cactus and Nuevo Pemex, as well as transportation constraints and a loss of containment in the Quesqui 4–Jujo system. Gas Utilization 6.3 Infrastructure In 2Q26, PEMEX completed 35 wells—34 development wells and one exploratory well—22 more than in 2Q25. The average number of wells in operation was 5,595, a decrease of 108 wells, or 1.9%, compared to 2Q25. An increase of 70 oil-producing wells was more than offset by a reduction of 178 non-associated gas-producing wells. Average Number of Operating Wells Selected Operating Infrastructure Completion of Wells Average Number of Operating Drilling Rigs 391 449 593 618 778 6.3% 7.0% 9.6% 9.7% 11.7% 2Q25 3Q25 4Q25 1Q26 2Q26 Gas Flaring (MMcfd) Gas Flaring / Total Gas Produced 3,410 3,489 3,499 3,563 3,480 2,293 2,343 2,286 2,308 2,115 5,703 5,832 5,785 5,871 5,595 2Q25 3Q25 4Q25 1Q26 2Q26 Crude oil Non-Associated Gas 92% 8% Offshore structures Drilling equipment
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6. Upstream l 2Q26 www.pemex.com 11 of 36 2026. Petróleos Mexicanos. All rights reserved. 6.4 Discoveries As a result of exploration activities conducted during the quarter, the Tumut-101EXP well was confirmed as a producer of gas and 34° API crude oil, with preliminary 3P reserves estimated at 18 to 23 MMboe. Asset Project Well Geological age Initial production Water depth Hydrocarbon type Completion date Remarks bpd MMcfd (m) Southern Offshore Exploration Asset Chalabil Tumut- 101EXP JSK 2,172 1.449 32.5 Oil and gas May 11, 2026 Preliminary 3P reserves are estimated in the range of 18 to 23 MMboe. 9 16 22 24 34 4 4 4 1 1 13 20 26 25 35 2Q25 3Q25 4Q25 1Q26 2Q26 Development Exploration 11 6 4 6 4 15 26 28 25 13 26 32 32 32 17 2Q25 3Q25 4Q25 1Q26 2Q26 Exploration Development
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7. Downstream l 2Q26 www.pemex.com 12 of 36 2026. Petróleos Mexicanos. All rights reserved. 7.1 Crude Oil Processing During the second quarter of 2026, crude oil processing in the National Refining System (NRS) averaged 1,008 Mbd, a 2.9% increase as compared to the same period in 2025, equivalent to an additional 28 Mbd. This result was primarily driven by the Tula refinery, which increased its processing by 42 Mbd due to the continuous operation of the coker unit commissioned in July 2025. Likewise, the Olmeca refinery increased its throughput by 21 Mbd compared to the second quarter of 2025, as a result of sustained operations and the gradual increase in processing levels. The NR S’ installed atmospheric distillation capacity is 1,750 Mbd; at this processing level, utilization of the primary distillation capacity averaged 57.6%. Crude Oil Processing (Mbd) Crude Oil Processing Crude Oil Processing by Refinery 504 548 640 640 492 476 456 496 500 516 980 1,004 1,136 1,141 1,008 2Q25 3Q25 4Q25 1Q26 2Q26 Heavy Crude Oil Light Crude Oil 51% 49% 100% = 1,008 Mbd Light Crude Oil Heavy Crude Oil 16% 10% 8% 9% 18% 25% 14% 100% = 1,008 Mbd Cadereyta Madero Minatitlán Salamanca Salina Cruz Tula Dos Bocas
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7. Downstream l 2Q26 www.pemex.com 13 of 36 2026. Petróleos Mexicanos. All rights reserved. 7.2 Production of Petroleum Products As a result of the NR S' operational performance, petroleum products output averaged 1,029 Mbd during the second quarter of 2026, a 3.4% increase as compared to the same period in 2025. Production of high-value distillates (gasoline, diesel, and jet fuel) reached 649 Mbd, 52 Mbd higher than in the second quarter of 2025, a 8.8% growth. This result was mainly driven by increased diesel production, which rose by 41 Mbd (19.3%), as well as higher gasoline and jet fuel volumes. PEMEX's strategy to maximize the production of higher value-added fuels continued to strengthen the output of products with greater demand and profitability within the refined products mix. As a result, the distillate yield reached 64.3%, 3.5 percentage points higher than in the same period of the previous year. Petroleum Products Production (Mbd) * Includes paraffins, furfural extract, Aeroflex, asphalt, lubricants, coke, light cyclic oil, and other gasoline products. PEMEX Service Stations As of June 30, 2026, 7,564 service stations were registered under the PEMEX Franchise, an increase of 3% compared to the same period of 2025. Of these franchise service stations, 44 are owned by PEMEX. As of the end of June 2026, 1,149 service stations were registered under the Brand Use Licensing scheme, while 4,333 service stations operated under brands other than PEMEX and were supplied by both PEMEX and third parties. 340 344 382 390 350 222 173 198 161 191 214 235 293 286 255 15 15 20 20 17 43 42 45 54 44 162 192 187 200 173 995 1,001 1,126 1,110 1,029 2Q25 3Q25 4Q25 1Q26 2Q26 Automotive gasolines Fuel oil Diesel LPG Jet Fuel Other*
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7. Downstream l 2Q26 www.pemex.com 14 of 36 2026. Petróleos Mexicanos. All rights reserved. 7.3 Gas Processing and Production During 2Q26, wet gas processing averaged 2,229 MMcfd, an increase of 21 8 MMcfd, or 10.8%, compared to the same period of 2025. This result was mainly driven by higher deliveries of sour wet gas in the Southeast region and sweet wet gas in the Northern region. Dry gas production averaged 1,834 MMcfd, an increase of 220 MMcfd, or 13.6%, compared to 2Q25, mainly due to higher production at the Matapionche, Nuevo Pemex and Burgos gas processing complexes. Natural gas liquids production averaged 121 Mbd, an increase of 4.1 Mbd, or 3.5%, compared to the same quarter of the previous year, primarily driven by the Burgos, Nuevo Pemex and Matapionche gas processing complexes. Condensate processing averaged 8.4 Mbd, a decrease of 0.2 Mbd compared to 2Q25, due to lower receipts of sour and sweet condensates. Natural Gas Processing (MMcfd) Dry Gas and Natural Gas Liquids Production 1,765 2,012 1,906 1,834 1,971 247 218 207 246 258 2,011 2,230 2,113 2,080 2,229 2Q25 3Q25 4Q25 1Q26 2Q26 Sour Wet Gas Sweet Wet Gas 1,614 1,751 1,689 1,691 1,834 117 128 118 122 121 - 60 120 180 240 300 - 500 1,000 1,500 2,000 2Q25 3Q25 4Q25 1Q26 2Q26 Dry Gas from Plants (MMcfd) Natural Gas Liquids (Mbd)
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7. Downstream l 2Q26 www.pemex.com 15 of 36 2026. Petróleos Mexicanos. All rights reserved. 7.4 Petrochemicals Production In the second quarter of 2026, petrochemicals production reached 360 thousand tons (Mt), a 40% increase as compared to the same period of 2025, primarily driven by higher carbon dioxide, sulfur, and ammonia production. The product chains that recorded the strongest performance were: • other petrochemicals production increased by 62 Mt, mainly due to higher carbon dioxide production, which reached 153 Mt following the start -up of the Ammonia VII plant at the Cosoleacaque Petrochemical Complex; • sulfur production increased by 26 Mt as a result of higher output from the Olmeca refinery; • methane derivatives production increased by 13 Mt, driven by higher ammonia production associated with the start-up of the Ammonia VII plant since March 2026; • methanol production increased by 7 Mt due to longer operating time and the continued operation of Methanol Plant No. 2 at the Independencia Petrochemical Complex; and • ethane derivatives production increased by 3 Mt, supported by greater operating continuity at the low - density polyethylene (LDPE) plant in the Cangrejera Petrochemical Complex. Petrochemicals Production (Mt) 89 80 60 88 110 15 19 27 26 18 9 17 2 19 1 50 40 67 84 76 93 61 85 90 155 257 217 240 307 360 2Q25 3Q25 4Q25 1Q26 2Q26 Others* Sulfur Aromatics and Derivatives Ethane Derivatives Methane Derivatives * Includes Carbon dioxide, Propylene and derivatives, Hexane, Pentanes, Butanes, Raw butadiene, Polyethylene waxes, Petrochemical specialties, Heptane, Hydrogen, Pyrolysi s Liquids, Nitrogen, Oxygen, Mixture of pentanes and byproducts of polyethylene. Note: As of 2025, carbon black feedstock is no longer included.
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8. Financial Results l 2Q26 www.pemex.com 16 of 36 2026. Petróleos Mexicanos. All rights reserved. 8.1 Consolidated Income Statement from April 1 to June 30, 2026 Total Revenues from Sales and Services Total revenues from sales and services amounted to MXN 510.4 billion, representing a 30.3% increase compared to the second quarter of 2025. This change is mainly explained by: • a 31.4% increase in export sales value, driven by higher crude oil prices and increased distillate sales volumes; and • a 29.8% increase in domestic sales value, mainly attributable to higher sales volumes and prices for diesel and Magna gasoline, as well as higher jet fuel prices. Sales Evolution (MXN million) Exports (MXN million) Crude Exports by Region 391,621 510,443 75,392 43,420 11 2Q25 Domestic Sales Exports Services Income 2Q26 30.3% 64,146 76,716 74,171 104,645 75 450 138,391 181,811 2Q25 2Q26 Other Petroleum Products Crude Oil and Condensates 38% 42% 20% United States of America Europe Far East
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8. Financial Results l 2Q26 www.pemex.com 17 of 36 2026. Petróleos Mexicanos. All rights reserved. Domestic Sales (MXN million) Domestic Sales of Petroleum Products Cost of Sales Cost of sales, including the effect of impairment of wells, pipelines, properties, plant and equipment, net, amounted to MXN 370.7 billion, a 8.6% increase YoY. This increase was primarily driven by: • a MXN 65.8 billion increase in product purchases; • a MXN 19.7 billion increase in inventory variation; • a MXN 9.0 billion increase in right-of-use asset impairment charges; and • a MXN 7.3 billion increase in depreciation and amortization expenses. These effects were partially offset by: • a MXN 48.2 billion decrease in fixed-asset impairment charges, reflecting the absence of impairment indicators in the Exploration and Extraction segment and the recognition of an impairment reversal in the Energy Transformation segment; • a MXN 11.9 billion decrease in unsuccessful well expenses; • a MXN 5.7 billion decrease in crude oil purchases from third parties under CNH contracts; and • a MXN 4.0 billion decrease in conservation and maintenance expenses. Cost of Sales (MXN million) * Includes depreciation and amortization expenses, subsidiary entities consolidation net effect, operating expenses, hydrocarbo n exploration taxes and duties, maintenance expenses, net cost for the period of employee benefits, exploration expenses and inventories variation . 235,362 312,881 10,256 9,287 7,046 5,889 252,665 328,057 2Q25 2Q26 Dry Gas Petrochemical Products Petroleum Products 52% 5% 23% 9% 6% 5% Gasolines Fuel oil Diesel LPG Jet Fuel Other 132,307 198,080 7,650 9,180 201,491 163,474 341,448 370,734 2Q25 2Q26 Others* Fuel theft losses Purchases for resale
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8. Financial Results l 2Q26 www.pemex.com 18 of 36 2026. Petróleos Mexicanos. All rights reserved. Operating Income Evolution (MXN million) Taxes and Duties During the second quarter of 2026, total taxes and duties amounted to MXN 70.3 billion, including the Welfare Oil Duty (Derecho Petrolero para el Bienestar), compared with MXN 47.3 billion in the same period of 2025. The increase was mainly attributable to a higher oil price used in the calculation of hydrocarbon extraction duties. Evolution of Taxes and Duties (MXN million) (11,100) 85,483 89,537 (2,792) (1,313) 3,054 24 8,073 2Q25 Gross Income Other Revenues Other Expenses Transportation and Distribution Expenses Impairment of financial assets Administrative Expenses 2Q26 48,899 72,005 22,025 961 119 2Q25 Welfare Oil Duty Duties Taxes 2Q26
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8. Financial Results l 2Q26 www.pemex.com 19 of 36 2026. Petróleos Mexicanos. All rights reserved. Evolution of Net Result During 2Q26, PEMEX recorded a net income of MXN 18.0 billion, compared with net income of MXN 59.5 billion recorded in 2Q25. The main factors contributing to this result were: i) higher sales; ii) lower fixed-asset impairment charges; and iii) lower transportation, distribution, selling, and administrative expenses. These effects were partially offset by: i) higher product purch ases; ii) higher taxes and duties; iii) higher costs associated with derivative financial instruments; and (iv) lower foreign exchange gains. During the quarter, PEMEX recorded a foreign exchange gain of MXN 49.3 billion, compared with a gain of MXN 134.7 billion in 2Q25. This variation was attributable to the appreciation of the Mexican peso against the U.S. dollar during 2Q26. The exchange rate moved from MXN 18.0667 per USD 1.00 as of March 31, 2026, to MXN 17.4700 per USD 1.00 as of June 30, 2026, representing a 3.3% appreciation of the peso. In addition, PEMEX recorded a loss on derivative financial instruments of MXN 2.4 billion, compared with a gain of MXN 19.1 billion in 2Q25. This variation was mainly attributable to changes in the fair value of cross-currency swaps, crude oil options, and foreign exchange options. Net Income Evolution (Loss) (MXN million) Comprehensive Income (Loss) In 2Q26, PEMEX re corded comprehensive income of MXN 1.9 billion, primarily reflecting net income for the period, partially offset by negative foreign currency translation effects of MXN 16.1 billion resulting from the depreciation of the U.S. dollar against the Mexican peso. 59,516 18,024 96,582 (8,111) (21,452) (85,418) (107) (22,025) (961) 2Q25 Operating Income (Loss) Net Interest Expense Financial Derivatives Income (Loss) Foreign Exchange Income (Loss) Profit Sharing Welfare Oil Duty Taxes and Duties 2Q26
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8. Financial Results l 2Q26 www.pemex.com 20 of 36 2026. Petróleos Mexicanos. All rights reserved. Evolution of Comprehensive Income (Loss) (MXN million) 8.2 Consolidated Balance Sheet as of June 30, 2026 Working Capital As of June 30, 2026, PEMEX recorded negative working capital of MXN 355.3 billion, compared with negative working capital of MXN 530.5 billion as of December 31, 2025. The MXN 175.2 billion improvement was mainly attributable to: • a MXN 132.1 billion decrease in short-term debt; • a MXN 62.4 billion decrease in accounts payable to suppliers; • a MXN 38.8 billion increase in trade receivables and other accounts receivable; and • a MXN 30.4 billion increase in inventories. These effects were partially offset by: • a MXN 31.3 billion increase in accrued expenses payable and short-term contractual liabilities; • a MXN 24.0 billion decrease in cash and cash equivalents; • a MXN 21.4 billion decrease in Federal Government Bonds; and • a MXN 8.7 billion decrease in derivative financial instrument assets. Working Capital (MXN million) 21,270 1,892 (41,492) 22,114 2Q25 Net income (loss) Other Comprehensive Results 2Q26 (355,268) 138,678 139,668 35,339 63,952 129,290 5,857 2,143 (213,100) (374,334) (93,332) (88,326) (10,864) (81,195) (9,047) Cash and cash equivalents Clients Other financial accounts receivable Other non- financial accounts receivable Inventories Derivative financial instruments Other current assets Short-term financial debt Suppliers Taxes and duties payable Accounts and accrued expenses payable Short-term contractual liabilities Derivative financial instruments Creditors for financial leasing C.P. IFRS16 Working Capital Current Liabilities Current Assets
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8. Financial Results l 2Q26 www.pemex.com 21 of 36 2026. Petróleos Mexicanos. All rights reserved. 8.3 Debt Financial Resources As of June 30, 2026, Petróleos Mexicanos, State-Owned Public Company, and its subsidiary companies carried out financing activities, including short-term bank loans, totaling MXN 337.9 billion (USD 19.3 billion). During the same period, total debt repayments amounted to MXN 480.6 billion (USD 27.5 billion). As of June 30, 2026, 90.4% of total debt was denominated in currencies other than the Mexican peso, primarily U.S. dollars, and is translated into Mexican pesos for reporting purposes using the period-end exchange rate. Financial Debt (MXN billion) * Includes reclassification of financial leases and accrued Financial Debt Exposure as of June 30, 2026 Average Life of Financial Debt Exposure (Years) 1,186,070 1,140,059 1,214,481 1,368,647 31,500 345,228 213,100 (158,060) (37,343) (138,678) 1,531,298 1,353,159 1,922 306,392 (322,550) Financial Debt as of December 31, 2025 Financing Activities Amortizations Foreign Exchange Fluctuation Others* Financial Debt as of June 30, 2026 Cash & Cash Equivalents Net Debt 2Q26 Net Debt 2025 PMI Debt Petroleos Mexicanos debt Short-Term Long-Term -11.6% 84% 10% 4% 1% 2% By currency U.S. dollars Mexican pesos Euros Yens UDIS 90% 10% By type Fixed Floating 9.5 1.3 0.6 USD (91%) MXN (9.1%) JPY (0.003%) As of June 30, 2025 Average 8.9 10.6 3.5 0.1 USD (90%) MXN (10%) JPY (0.001%) As of June 30, 2026 Average 9.8
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8. Financial Results l 2Q26 www.pemex.com 22 of 36 2026. Petróleos Mexicanos. All rights reserved. 8.4 Financing Activities In line with the Strategic Plan of Petróleos Mexicanos for 2025–2035, the strategy to converge toward zero net debt continues. Financial Market Operations During the second quarter of 2026, PEMEX did not carry out any financing transactions. Revolving Credit Facilities PEMEX has revolving credit facilities for liquidity management totaling USD 4.15 billion and MXN 19.0 billion. As of June 30, 2026, USD 3.35 billion and the full MXN 19.0 billion remained available. 8.5 Hedging Strategy Since 2017, PEMEX has maintained an annual hedging program aimed at mitigating the impact of market volatility on its revenues and cash flows. Product Hedging For 2026, PEMEX implemented its oil price hedging strategy, providing protection for approximately 25% of its estimated total exposure. The strategy consists of the monthly purchase of put spreads, which provide protection against declines of up to USD 5.0 per barrel in the price of the Mexican Export Mix, starting from a level close to that assumed in the Federal Expenditure Budget. Additionally, PEMEX implemented a strategy to hedge cash flows against a potential decline in gasoline and diesel crack spreads. Under this strategy, 5.43 million barrels of gasoline (March–August) and 1.41 million barrels of diesel (March –November) were h edged. The strategy consisted of locking in gasoline and diesel price differentials relative to WTI crude oil at levels above those assumed in the Federal Expenditure Budget through fixed-for-floating swaps settled on a monthly basis. As a result of the volatility observed in crude oil prices and crack spreads during 2Q26, these hedging activities resulted in a net protection cost of USD 84.4 million. Foreign Exchange Hedging During 2Q26, PEMEX entered into UDI -MXN cross-currency swaps to hedge its 2026 UDI -denominated debt issuance, effectively converting the debt into Mexican pesos. In addition, a credit-linked feature was incorporated into the hedge structure, reducing funding costs by approximately 70 basis points.
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8. Financial Results l 2Q26 www.pemex.com 23 of 36 2026. Petróleos Mexicanos. All rights reserved. 8.6 Investment Activities Budgetary Investment12 For fiscal year 2026, PEMEX has an approved budget of MXN 303.3 billion (USD 1 7.2 billion13) for budgetary investment activities. As of June 30, 2026, MXN 114.2 billion (USD 6.5 billion14) had been exercised, representing 37.7% of the approved budget. Business Segment 2026 Budget15 (MXN billion) Investment Exercised as of June 30, 2026 (MXN billion) Exploration and Extraction16 246.1 87.3 Industrial Processes 40.7 21.9 Logistics 9.0 3.9 Energy Transformation 4.3 0.9 Support Processes 3.1 0.2 Commercialization 0.1 0.03 Total 303.3 114.2 Budgetary investment has been mainly allocated to strengthening hydrocarbon extraction and processing in refineries, with the objective of increasing the production of petroleum products and gas liquids. In the Exploration and Extraction segment, resources have been focused on accelerating the development and operation of new fields, which has helped offset the natural decline in production from mature fields. Likewise, resources have been allocated to the Refinery Rehabilitation Plan, with the purpose of improving operating reliability and increasing crude oil processing to supply the domestic market. As of June 30, 2026, capital contributions of MXN 5.0 billion were made to subsidiaries to capitalize the subsidiary responsible for the Olmeca Refinery, while MXN 0.7 billion was contributed to subsidiaries within the fertilizers business line. Capital Investment (CAPEX) For fiscal year 2026, capital investment amounts to MXN 129.6 billion (USD 7.3 billion)12. As of June 30, 2026, MXN 48.2 billion (USD 2.8 billion)¹³ had been exercised, representing 37.2% of total CAPEX. Business Segment 2026 Budget14 (MXN billion) CAPEX Exercised as of June 30, 2026 (MXN billion) Exploration and Extraction 81.7 26.9 Industrial Processes 32.4 16.3 Logistics 9.0 3.9 Energy Transformation 4.3 0.9 Support Processes 2.1 0.2 Commercialization 0.1 0.03 Total 129.6 48.2 12 Includes non-capitalizable investment. 13 The MXN-to-USD conversion was made using the average exchange rate for the budgetary adjustment as of June 2026 of MXN 17.65 = USD 1.00. 14 The MXN-to-USD conversion was calculated using the average exchange rate from January 1 to June 30, 2026, of MXN 17.46142 per USD 1.00. 15 Budgetary adjustment as of the end of June. 16 Exploration investment totaled MXN 9.04 billion in in the first half of 2026, compared with MXN 22.3 billion in the same period of 2025.
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9. Environmental, Social & Governance Criteria l 2Q26 www.pemex.com 24 of 36 2026. Petróleos Mexicanos. All rights reserved. 9.1 Environmental Carbon Dioxide Equivalent Emissions During 2Q26, carbon dioxide equivalent emissions reached 18.6 million metric tons, a 0.5% increase from 18.5 million metric tons in 2Q25. This variation was primarily driven by higher activity levels in the Exploration and Production, Gas Processing, and Refining segments. Methane Emissions During 2Q26, methane emissions totaled 213.7 thousand metric tons, a 5.1% decrease from 225.2 thousand metric tons in 2Q25. This reduction was primarily attributable to lower flaring at gas processing complexes. Sulfur Oxide Emissions During 2Q26, sulfur oxide emissions were estimated at 349.8 thousand metric tons, a 12.4% increase from 311.2 thousand metric tons in 2Q25. This increase was primarily attributable to the higher sulfur content of the gas processed at the Company’s gas processing complexes. These emissions are expected to begin declining toward year-end 2026 as sulfur recovery units come online. Water Reuse During 2Q26, water reuse volumes reached 10.2 million cubic meters, a 1.0% increase from 10.1 million cubic meters in 2Q25. This performance reflected higher water reuse at the Madero, Salamanca, and Tula refineries, partially offset by a 10% decrease at the Cadereyta refinery due to infrastructure rehabilitation requirements. Water Reuse Energy Consumption During 2Q26, energy consumption reached 129.3 PJ, a 7.7% increase from 120.1 PJ in 2Q25. This increase was primarily driven by operations at the Olmeca refinery. 0.195 0.136 0.155 0.168 0.185 2Q25 3Q25 4Q25 1Q26 2Q26 18.5 17.0 18.7 20.1 18.6 2Q25 3Q25 4Q25 1Q26 2Q26 MMtCO2e 311.2 338.9 357.4 385.2 349.8 225.2 179.8 213.2 234.1 213.7 2Q25 3Q25 4Q25 1Q26 2Q26 Sulfur oxide emissions (Mt) Methane emissions (Mt)
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9. Environmental, Social & Governance Criteria l 2Q26 www.pemex.com 25 of 36 2026. Petróleos Mexicanos. All rights reserved. Energy Consumption (PJ) Initiatives to Reduce Atmospheric Emissions and Adapt to Climate Change • Collaboration with the Global Flaring and Methane Reduction Partnership (GFMR). During 2Q26, PEMEX and the World Bank’s GFMR initiative formalized the projects comprising the first phase of their collaboration. These projects involve conceptual engineering studies to assess alternatives for the recovery and utilization of flare gas. The studies cover gas recovery systems at the Cactus and Nuevo Pemex gas processing complexes, as well as at the Tula, Minatitlán, and Salina Cruz refineries. The findings will support an assessment of the technical feasibility of recovering and utilizing these gases in production processes, helping reduce emissions and strengthen PEMEX’s environmental performance. • Emissions Trading System (ETS) During the quarter, PEMEX completed facility -level emissions inventories. These inventories will be independently verified by third parties accredited by the Mexican environmental authorities and subsequently reported in compliance with the requirements of the Emissions Trading System Pilot Program. • GHG and methane management During the quarter, work continued to stabilize electricity and steam supply processes at the gas processing complexes, contributing to lower emissions from flaring. PEMEX also continued to systematically address alerts issued through the International Met hane Emissions Observatory’s Methane Alert and Response System (MARS). • Progress on the critical risk management program At the end of 2Q26, the inventory remained at 240 environmental risks, of which 33% had been addressed and 67% were in the process of being addressed. The estimated investment required to address these risks totals MXN 16.5 billion and is intended to mitigate potential impacts on soil, water, and air. 120.1 119.9 125.3 129.6 129.3 2Q25 3Q25 4Q25 1Q26 2Q26
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9. Environmental, Social & Governance Criteria l 2Q26 www.pemex.com 26 of 36 2026. Petróleos Mexicanos. All rights reserved. 9.2 Social Industrial Safety and Occupational Health Petróleos Mexicanos reaffirms its commitment to comprehensive risk management through the continuous strengthening of its industrial safety and occupational health systems. Its strategy focuses on identifying, assessing, and mitigating critical risks through a preventive approach aimed at protecting personnel and strategic assets. These actions enhance operational reliability, support business continuity, and safeguard personnel, in line with sustainability principles. Frequency Index17 At the end of 2Q26, the cumulative Frequency Index (FI) for PEMEX personnel stood at 0.43 accidents per million man-hours worked with exposure to risk, a 48.3% increase from 0.29 in the same period of 2025. During the quarter, 32 workers were injured and four fatalities were recorded across various PEMEX business areas. Exploration and Production recorded 13 injured workers and two fatalities, with incidents occurring across various processing centers, platforms, wells, and operating units. The Industrial Processes Directorate reported 11 injured workers and one fatality, primarily at the Salina Cruz refinery, with additional incidents at the Madero, Minatitlán, Tula, Cosoleacaque, and Cangrejera facilities. The Logistics Directorate recorded three injured workers at various terminals and one fatality at CPTG Atasta ; the Administration and Services Directorate reported three injured workers at the Mexico City Administrative Center and the Southeast Corporate Services Unit; and Energy Transformation recorded two injured workers at the Nuevo Pemex and Ciudad Pemex gas processing complexes. Severity Index18 At the end of 2Q26, the cumulative Severity Index (SI) for PEMEX personnel stood at 34 lost days per million man-hours worked with exposure to risk, a 61.9% increase from 21 lost days in the same period of 2025. Frequency and Severity Indexes For all events classified as moderate or severe, root cause analyses are conducted to identify determining factors and establish corrective and preventive actions aimed at avoiding recurrence. 17 Refers to the number of accidents with incapacitating injuries per million man -hours worked (MMhh) with risk exposure during the relevant period. An incapacitating injury is an injury, functional damage or death that is caused, either immediately or subsequently, by a sudden event at work or during work-related activities. Man-hours worked with risk exposure represent the number of hours worked by all personnel, including overtime hours . 18 Refers to the total number of days lost per million man -hours worked with risk exposure during the relevant period. The number of days lost is based on medical leaves of absence for injuries stemming from accidents at work, plus the number of corresponding days on which compensation is paid for partial or total disability or death . 21 16 18 17 34 0.29 0.29 0.29 0.42 0.43 - 0.05 0.10 0.15 0.20 0.25 0.30 0.35 0.40 0.45 - 5 10 15 20 25 30 35 40 2Q25 3Q25 4Q25 1Q26 2Q26 Severity index Frequency index
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9. Environmental, Social & Governance Criteria l 2Q26 www.pemex.com 27 of 36 2026. Petróleos Mexicanos. All rights reserved. For very severe events, analyses are conducted by independent national and international investigators, strengthening the objectivity of evaluations and transparency in accountability. These processes reinforce the Pemex Safety, Health and Environmental Protection System (SSPA) and further promote a culture of prevention across the organization. Tier 1 Loss of Primary Containment Events During 2Q26, the Tier 1 (severe) process safety event frequency rate stood at 0.16, a 78% increase compared to the same period of 2025. The following are two events classified as Tier 1 due to their severity and media relevance. The related investigations remain ongoing. Incident date Work center Incident description Root Cause Analysis status May 11, 2026 Salina Cruz Refinery Fire at cooling tower TE- 05 of the Hidros 2.b Plant. The root cause analysis and the corresponding investigations remain ongoing. June 18, 2026 Macuspana- Muspac Exploration Asset, Bakté field Sour gas leak from the 30-inch-diameter Agave gas pipeline. The root cause analysis and the corresponding investigations remain ongoing.. Safety, Occupational Health and Environmental Protection Initiatives (SSPA) During the quarter, various activities were carried out to assess and monitor SSPA performance, including the following: • Comprehensive second-party audits of SSPA, reliability and energy management performance Three comprehensive audits were conducted at the following work centers: o Pajaritos Storage and Port Services Terminal (TASP) o Catalina Pipeline Sector o Arenque Gas Processing Complex (CPG) • 2026 Inspection Unit Program The program includes the following actions: o Nine conformity assessments under NOM-020-STPS-2011, concerning pressure vessels, at the Cangrejera, Pajaritos and Morelos petrochemical complexes; the Tepeji LPG Distribution Terminal (TDGL); the Salina Cruz and Madero refineries; and the Ciudad Pemex and Burgos gas processing complexes. o Three workshops on NOM-020-STPS-2011, with the participation of personnel from the Arenque Gas Processing Complex, the Madero Pipeline Sector, the Madero Refinery, DPI Industrial Projects, the Morelos and Cangrejera petrochemical complexes, and Pemex Logis tics’ STPL/SAD Pajaritos. o Coordination with the Ministry of Labor and Social Welfare (STPS) to obtain approval for 13 candidates to serve as evaluators under NOM-020-STPS-2011. • Industrial safety risk inventory As of the end of 2Q26, 763 of the 1,033 identified industrial safety risks had been addressed, representing 73.9% of the total inventory. The remaining 270 risks are covered by mitigation and permanent corrective action plans. The estimated investment required to address the entire inventory exceeds MXN 31.5 billion, of which MXN 14.1 billion corresponds to the outstanding risks.
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9. Environmental, Social & Governance Criteria l 2Q26 www.pemex.com 28 of 36 2026. Petróleos Mexicanos. All rights reserved. Social Responsibility In 2Q26, PEMEX continued strengthening its social responsibility strategy through initiatives aimed at addressing priority needs and generating sustainable benefits in communities located within its areas of operational influence. During the quarter, PEMEX carried out 142 initiatives, consisting of 75 Programs, Projects, and Actions (PROA), 59 donations, and 8 Mutual Benefit Projects (OBM), representing a social investment of MXN 1.05 billion across 18 states. These initiatives focused on community infrastructure, health, education, environmental protection, public safety, and productive development, contributing to the strengthening of public services, emergency response capabilities, and quality of life in local communities. Key actions included the operation of Mobile Medical Units, community and road infrastructure projects, support for productive initiatives, equipment for public safety and civil protection, and donations of fuels and asphalt to state and municipal governments.
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9. Environmental, Social & Governance Criteria l 2Q26 www.pemex.com 29 of 36 2026. Petróleos Mexicanos. All rights reserved. Donations OBM PROA Total investment MXN million # MXN million # MXN million # MXN million Aguascalientes 1 3.5 3.5 Campeche 1 6.9 12 109.4 116.3 Chiapas 3 18.0 5 118.1 10 13.5 149.6 Durango 1 9.2 9.2 Guerrero 2 29.9 29.9 Hidalgo 8 49.3 3 20.6 69.9 Jalisco 1 8.8 8.8 México 2 13.0 1 2.1 15.1 Morelos - 1 0.4 0.4 Nuevo León 5 55.6 55.6 Oaxaca 5 30.2 10 30.9 61.0 Puebla 5 49.3 6 19.7 69.1 Querétaro 5 8.8 8.8 Quintana Roo 1 8.2 8.2 Tabasco 3 125.3 3 63.3 24 137.2 325.8 Tamaulipas 7 44.1 5 19.8 63.9 Tlaxcala 1 7.3 7.3 Veracruz de Ignacio de la Llave 8 31.4 3 16.7 48.1 Total 59 498.7 8 181.4 75 370.3 1,050.4 Spending by strategic axis Through these initiatives, PEMEX reaffirms its commitment to creating social value, fostering regional development, and building more resilient, inclusive and sustainable communities, in line with the United Nations Sustainable Development Goals. SDG Relevant Programs, Works and Actions in 2Q26 (PROAs) SDG 3. Good Health and Well-being Mobile Medical Units provided general medical and mammography services across Campeche, Chiapas, Oaxaca, Tabasco and Veracruz. PEMEX also provided ambulances and specialized medical equipment and supported the construction of a comprehensive care center for individuals with autism spectrum disorder in Tabasco. SDG 4. Quality Education In Campeche, 41 preschool and primary school classrooms across seven schools were equipped. In Hidalgo, 54 school furniture packages were provided to support schools in municipalities associated with PEMEX’s operations. SDGs 6 and 9. Clean Water and Sanitation; Industry, Innovation and Infrastructure Water tankers and combined sewer-cleaning units were provided across six states to strengthen water distribution, drainage maintenance and emergency response. Roads and bridges were rehabilitated in Chiapas and Tabasco, road-maintenance machinery was delivered in Campeche, and community facilities were improved in Tabasco and Oaxaca. SDG 8. Decent Work and Economic Growth Rural producers in Campeche received fertilizer to support agricultural productivity. Fishing communities were provided with fishing gear, engine parts and safety equipment. PEMEX also supported aquaculture production facilities and provided vessels in Veracruz. SDG 11. Sustainable Cities and Communities LED streetlights were provided in Campeche, Chiapas, Morelos, Oaxaca and Tabasco. Additional initiatives included municipal service vehicles and equipment, road paving, and improvements to public spaces and community infrastructure. SDG 13. Climate Action Waste collection and compactor trucks were delivered in Tabasco and Tamaulipas to strengthen solid- waste management. Specialized HAZMAT equipment was also provided in Oaxaca to support the containment and remediation of hazardous-material leaks and spills SDG 16. Peace, Justice and Strong Institutions Patrol vehicles were delivered in Tabasco and Puebla, while fire engines were provided in Hidalgo and Tamaulipas. Tow trucks, smart monitoring equipment and other operational resources were also delivered to strengthen public safety, civil protection and emergency response capabilities. During 2Q26, PEMEX continued donating regular gasoline and diesel to state and municipal governments, as well as producer organizations, to support the operation of vehicles, machinery and equipment used for public services, healthcare, public safety, civil protection and emergency response. In Tabasc o, a portion of these resources was also allocated to fishing and oyster-farming organizations, helping ensure the continuity of their productive activities. During the quarter, PEMEX also authorized asphalt donations to state and municipal governments to support pothole repair, paving, rehabilitation and road maintenance projects in municipalities across 17 Mexican 11% 8% 7% 2% 24% 1% 47% Public Security and Civil Protection Health Productive Projects Environmental Protection Infrastructure Education and Sports Donations
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9. Environmental, Social & Governance Criteria l 2Q26 www.pemex.com 30 of 36 2026. Petróleos Mexicanos. All rights reserved. states. These contributions are intended to strengthen road infrastructure and connectivity, while facilitating communities’ access to public services and economic activities. Inclusion and Human Rights During 2Q26, PEMEX carried out 114 awareness-raising and training activities aimed at strengthening equality, inclusion, respect for human rights and organizational culture. These activities generated 40,144 participation records: 36,179 in awareness-raising activities and 3,965 in training activities. Participation in awareness-raising activities increased by 13.6% compared to 2Q25, while participation in training activities decreased by 66.4% year over year, although it recovered by 28.6% compared to 1Q26. In addition, the Labor Well-Being and Gender Support Center (CABLAG) provided 140 initial consultations and 157 support services. Through these actions, PEMEX continued to strengthen its institutional guidance and support mechanisms, while promoting a workplace environment based on equality, inclusion and respect. 9.3 Governance During 2Q26, PEMEX continued implementing its compliance program, “PEMEX Cumple”, through initiatives aimed at strengthening the culture of compliance, ethics, corporate integrity, corruption risk prevention, transparency, and accountability. As part of its training efforts, 497 employees participated in ethics and anti -corruption courses in accordance with the annual schedule of the Institutional Training, Education and Specialized Development Program (PICADE). In addition, the Training Program on Transparency, Access to Info rmation, and Related Topics remained under implementation following updates to the applicable legal framework and the redesign of the corresponding training model. Regarding due diligence, PEMEX processed 701 requests and issued 562 viability opinions for the execution of commercial agreements with third parties during 2Q26. With respect to transparency and personal data protection, PEMEX continued coordinating efforts for the publication of information on the National Open Data Platform and maintained its participation in the Extractive Industries Transparency Initiative (EITI) in line with the 2025–2026 Work Plan. The update of internal regulations on transparency and personal data protection also remained under review following the issuance of new guidelines by the Ministry of Anti-Corruption and Good Governance. During the quarter, PEMEX processed 908 information and personal data requests, while the Transparency Committee held 14 meetings and issued 899 resolutions. Additionally, on July 16, 2026, PEMEX achieved a perfect score of 100 points and ranked first in the 2026 Corporate Integrity 500 (IC500) Ranking 19, prepared by Transparencia Mexicana, Mexicanos Contra la Corrupción y la Impunidad, and Expansión, maintaining the top rating obtained in the previous year. The recognition reflects the company's ongoing efforts to strengthen ethics, corporate integrity, transparency, compliance, and anti-corruption practices. 19 https://expansion.mx/empresas/2026/07/16/ic500-el-ranking-que-mide-los-avances-de-las-500-en-materia-de-transparencia
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9. Environmental, Social & Governance Criteria l 2Q26 www.pemex.com 31 of 36 2026. Petróleos Mexicanos. All rights reserved. 9.4 Main Environmental Incidents and Control Actions In line with responsible and transparent environmental management, focused on risk mitigation and the creation of sustainable value, this section presents the main incidents recorded during the period, as well as the actions implemented for their control, prevention and response, as part of the company’s commitment to continuous improvement and accountability. For further details on the response to these incidents, please refer to PEMEX | Press Room | National Press Releases. Operating Incident at the Krem-1 Exploratory Well, Las Choapas, Veracruz Progress in Addressing the Krem-1 Well Incident PEMEX continues working toward the permanent closure of the Krem-1 well. The new valve and piping system required to stop the flow was already on site, after which permanent well plugging will proceed. PEMEX also maintained containment barriers in nearby streams and continued recovering hydrocarbons for proper disposal. The area remained under continuous monitoring for gas concentrations and explosivity, with no critical levels or hazardous conditions detected. As part of its support for the local population, mobile medical units provided services in 42 communities in Las Choapas, in coordination with municipal and state authorities. PEMEX continues working on site to fully resolve the incident. Operational Incident at the Salina Cruz Refinery On May 11, 2026, a fire occurred at the Hydros 2 unit of the Salina Cruz Refinery during commissioning activities associated with cooling tower TE -05. The incident was brought under control in accordance with established safety protocols. Six people were injured, including three PEMEX employees and three contractor personnel. Refinery operations and regional product supply were not affected. On May 13, one of the injured workers passed away while receiving specialized medical treatment. PEMEX deeply regrets this loss, extends its condolences to the worker’s family, colleagues, and loved ones, and continues to provide support to those affected. The company also continues its technical investigation to determine the causes of the incident. Response to Fuel Oil Pipeline Containment Loss Events in Salina Cruz On June 9, 2026, a loss of containment was detected in a fuel oil pipeline in Salina Cruz, Oaxaca. PEMEX activated its emergency response protocols, temporarily suspended operations of the affected system, and controlled the release with the support of specialized personnel and relevant authorities. A second containment loss occurred on June 21 in a 16 -inch pipeline along the Refinery –Marine Terminal corridor. The situation was controlled through repair activities and recovery of the released hydrocarbon. On July 7, another fuel oil leak was identified in the same section. PEMEX again activated its emergency response protocols, carried out the necessary repairs, and successfully completed the work on July 8. PEMEX continues to conduct monitoring and surveillance activities in the area. The affected sections have been repaired, and containment, recovery, and remediation activities have been completed. Verification of the effectiveness of the implemented measure s remains ongoing to ensure the safety and integrity of the infrastructure. Operational Incident at the Salina Cruz Refinery Alkylation Unit On June 30, 2026, during maintenance activities at the alkylation unit of the Salina Cruz Refinery, a flash fire occurred at bottom pump GA-311 B of Fractionation Tower DA-304. Emergency response and safety protocols were immediately activated, and the incident was controlled without damage to refinery infrastructure. Three workers sustained minor burns and were transported to the PEMEX General Hospital for evaluation and treatment, where they were reported in stable condition. PEMEX continues to monitor their recovery and conduct the corresponding technical review, while refinery operations remain unaffected.
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10. Financial Statements l 2Q26 www.pemex.com 32 of 36 2026. Petróleos Mexicanos. All rights reserved. Consolidated Income Statement Second quarter (Apr.-Jun.) 2025 2026 Change 2026 (MXN million) (USD million) Net revenues 391,621 510,443 30.3% 118,822 29,218 Domestic 252,665 328,057 29.8% 75,392 18,778 Export 138,391 181,811 31.4% 43,420 10,407 Services income 565 576 1.9% 11 33 (Impairment) of wells, pipelines, properties, plant and equipment, net 34,573 (13,623) -139.4% (48,196) (780) Cost of sales 306,874 384,356 25.2% 77,482 22,001 Gross income 50,173 139,710 178.5% 89,537 7,997 Other revenues 4,073 1,281 -68.6% (2,792) 73 Other expenses 777 2,091 169.0% 1,313 120 Distribution, transportation and sale expenses 4,992 1,938 -61.2% (3,054) 111 Impairment losses on trade receivables from customers 2,030 2,006 -1.2% (24) 115 Administrative expenses 57,546 49,473 -14.0% (8,073) 2,832 Operating income (loss) (11,100) 85,483 870.1% 96,582 4,893 Welfare oil duty 47,226 69,251 46.6% 22,025 3,964 Operating (loss) income after Welfare oil duty (58,325) 16,232 127.8% 74,557 929 Financing cost (38,467) (46,712) -21.4% (8,245) (2,674) Financing income 2,318 2,453 5.8% 135 140 Derivative financial instruments income (cost), net 19,085 (2,367) -112.4% (21,452) (135) Foreign exchange income (loss), net 134,685 49,267 -63.4% (85,418) 2,820 Profit sharing in associates 299 191 -35.9% (107) 11 (Loss) income before duties, taxes and other 59,595 19,064 -68.0% (40,530) 1,091 Total duties, taxes and other 79 1,040 1224.3% 961 60 Current Taxes 532 249 -53.3% 43,058 14 Deferred Taxes (454) 791 274.4% 1,245 45 Net (loss) income 59,516 18,024 -69.7% (41,492) 1,032 Other comprehensive results (38,246) (16,132) 57.8% 22,114 (923) Currency translation effect (38,246) (16,132) 57.8% 22,114 (923) Comprehensive (loss) income 21,270 1,892 -91.1% (19,378) 108
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10. Financial Statements l 2Q26 www.pemex.com 33 of 36 2026. Petróleos Mexicanos. All rights reserved. Consolidated statement of financial position As of December 31, As of June 30, 2025 2026 Change 2026 (USD million) Total assets 2,219,467 2,163,677 -2.5% (55,790) 123,851 Current assets 502,236 514,928 2.5% 12,692 29,475 Cash and cash equivalents 162,651 138,678 -14.7% (23,973) 7,938 Customers, net 111,994 139,668 24.7% 27,673 7,995 Other financing receivables 23,721 35,339 49.0% 11,619 2,023 Other non-financing receivables 64,470 63,952 -0.8% (518) 3,661 Inventories 98,901 129,290 30.7% 30,389 7,401 Government Bonds 21,436 - -100.0% (21,436) - Short-term notes receivable 14,534 5,857 -59.7% (8,677) 335 Other current assets 4,528 2,143 -52.7% (2,386) 123 Non-current assets 1,717,231 1,648,749 -4.0% (68,482) 94,376 Investments in associates 2,794 3,231 15.6% 437 185 Wells, pipelines, properties, plant and equipment, net 1,618,916 1,560,472 -3.6% (58,445) 89,323 Long-term notes receivable, net of current portion 893 805 -9.9% (89) 46 Deferred income taxes and duties 7,464 7,998 7.1% 533 458 Intangible assets, net 10,999 9,890 -10.1% (1,109) 566 Other assets 38,323 38,945 1.6% 622 2,229 Rights of use assets 37,841 27,409 -27.6% (10,432) 1,569 Total liabilities 4,125,273 4,010,066 -2.8% (115,207) 229,540 Current liabilities 1,032,777 870,196 -15.7% (162,581) 49,811 Short-term debt and current portion of long-term debt 345,228 213,100 -38.3% (132,128) 12,198 Suppliers 436,704 374,334 -14.3% (62,370) 21,427 Income taxes and duties payable 95,425 93,332 -2.2% (2,093) 5,342 Accounts and accrued expenses payable 67,885 88,326 30.1% 20,441 5,056 Short-term contractual liabilities - 10,864 - 10,864 622 Derivative financial instruments 78,106 81,195 4.0% 3,088 4,648 Short-term leases 9,429 9,047 -4.1% (382) 518 Long-term liabilities 3,092,496 3,139,870 1.5% 47,374 179,729 Long-term debt, net of current portion 1,186,070 1,140,059 -3.9% (46,011) 65,258 Employee benefits 1,470,060 1,506,546 2.5% 36,487 86,236 Provisions for sundry creditors 152,817 157,688 3.2% 4,871 9,026 Long-term contractual liabilities 193,033 244,524 26.7% 51,491 13,997 Other liabilities 54,678 56,756 3.8% 2,078 3,249 Deferred income taxes 4,083 4,112 0.7% 29 235 Long-term leases, net of current portion 31,756 30,185 -4.9% (1,571) 1,728 Total equity (deficit) (1,905,806) (1,846,389) 3.1% 59,417 (105,689) Controlling interest (1,905,532) (1,846,113) 3.1% 59,419 (105,673) Certificates of contribution "A" 1,748,030 1,848,474 5.7% 100,444 105,808 Mexican Government contributions 66,731 66,731 0.0% - 3,820 Legal reserve 1,002 1,002 0.0% - 57 Accumulated other comprehensive result 50,283 37,226 -26.0% (13,056) 2,131 Accumulated deficit (3,771,577) (3,799,545) -0.7% (27,968) (217,490) From prior years (3,689,905) (3,771,577) -2.2% (81,672) (215,889) Net income (loss) for the year (81,672) (27,968) 65.8% 53,704 (1,601) Total non-controlling interest (274) (277) -0.8% (2) (16) Total liabilities and equity (deficit) 2,219,467 2,163,677 -2.5% (55,790) 123,851 (MXN million)
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10. Financial Statements l 2Q26 www.pemex.com 34 of 36 2026. Petróleos Mexicanos. All rights reserved. Consolidated Statements of Cash Flows 2025 2026 2026 (USD million) Operating activities Net (loss) income 16,187 (27,969) -272.8% (44,156) (1,601) Income taxes and duties 1,377 394 -71.4% (983) 23 Deferred taxes 103,068 116,951 13.5% 13,883 6,694 Items related to investing activities 132,712 107,785 -18.8% (24,927) 6,170 Depreciation and amortization of wells, pipelines, properties, plant and equipment 73,398 87,741 19.5% 14,343 5,022 Amortization of intangible assets 97 127 31.0% 30 7 Impairment of wells, pipelines, properties, plant and equipment 40,194 699 -98.3% (39,495) 40 Capitalized unsuccessful wells 3,364 1,569 -53.3% (1,794) 90 Unsuccessful wells from intangible assets 7,149 - -100.0% (7,149) - Loss from derecognition of disposal of wells, pipelines, properties, plant and equipment 1,571 2,241 42.7% 670 128 Depreciation of rights of use 3,068 3,379 10.1% 311 193 Impairment of rights of use - 9,043 #¡DIV/0! 9,043 518 (Profit) sharing in associates, net (366) (381) -4.1% (15) (22) Unrealized foreign exchange loss in discount rate of reserve for well abandonment 4,239 3,366 -20.6% (873) 193 Activities related to financing activities (39,077) 22,393 157.3% 61,470 1,282 Interest expense 79,869 77,877 -2.5% (1,992) 4,458 Interest income (7,088) (13,886) -95.9% (6,799) (795) Unrealized foreign exchange (income) loss (111,858) (41,597) 62.8% 70,261 (2,381) Subtotal 214,267 219,555 2.5% 5,288 12,568 Funds provided by (used in) operating activities (115,465) (133,600) -15.7% (18,136) (7,647) Profit-sharing duty and income tax paid (102,240) (110,726) -8.3% (8,485) (6,338) Derivative financial instruments (35,792) 11,766 132.9% 47,558 673 Customers and accounts receivable 17,323 (29,591) -270.8% (46,914) (1,694) Inventories (19,102) (14,521) 24.0% 4,581 (831) Accounts payable and accrued expenses 3,800 20,441 437.9% 16,641 1,170 Suppliers (27,995) (45,126) -61.2% (17,131) (2,583) Provisions for sundry creditors 22,056 6,889 -68.8% (15,168) 394 Employee benefits 30,385 36,487 20.1% 6,102 2,089 Other taxes and duties (3,898) (9,218) -136.5% (5,319) (528) Net cash flow from operating activities 98,803 85,955 -13.0% (12,848) 4,920 Investment activities Acquisition of wells, pipelines, properties, plant and equipment (94,017) (71,930) 23.5% 22,086 (4,117) Interest collected 4,319 4,808 11.3% 489 275 Acquisition of intangible assets (4,174) (3,452) 17.3% 722 (198) Other assets 876 1,764 101.3% 888 101 Net cash flow from investing activities (92,996) (68,810) 26.0% 24,185 (3,939) Cash needs related to financing activities 5,807 17,144 195.3% 11,338 981 Financing activities Increase in equity due to Certificates of Contribution “A” 94,539 100,444 6.2% 5,905 5,750 Increase in Contractual Liabilities - 58,639 - 58,639 3,357 Collections from the Mexican Government 10,766 21,420 99.0% 10,654 1,226 Interest collected from the Mexican Government 1,152 - -100.0% (1,152) - Interest on contractual liabilities paid - (5,136) - (5,136) (294) Lease payments (3,354) (3,938) -17.4% (584) (225) Interest of lease paid (960) (943) 1.8% 17 (54) Loans obtained from financial institutions 482,724 337,892 -30.0% (144,832) 19,341 Debt payments, principal only (494,441) (480,609) 2.8% 13,831 (27,511) Interest paid (80,348) (67,327) 16.2% 13,021 (3,854) Net cash flow from financing activities 10,078 (39,559) -492.6% (49,637) (2,264) Net Increase (decrease) in cash and cash equivalents 15,884 (22,415) -241.1% (38,299) (1,283) Effects of foreign exchange on cash balances (8,357) (1,558) 81.4% 6,799 (89) Cash and cash equivalents at the beginning of the year 88,842 162,651 83.1% 73,809 9,310 Cash and cash equivalents at the end of the year 96,369 138,678 43.9% 42,310 7,938 Change As of June 30, (MXN million)
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11. Conference Call l 2Q26 www.pemex.com 35 of 36 2026. Petróleos Mexicanos. All rights reserved. Juan Carlos Carpio - Chief Executive Officer Elizabeth González - Chief Financial Officer Octavio Barrera - Director of Exploration & Extraction Marco Antonio Gómez - Deputy Director for Planning and Operational Evaluation of Industrial Processes Sergio Benito Osorio - Director of Energy Transformation Mauricio Camarena - Director of Planning, Coordination, Performance and Sustainability Adán Enrique García - Chief Executive Officer at P.M.I. International Trade will present the financial and operating results of PEMEX as of June 30, 2026. Friday, July 31, 2026 11:00 a.m. (CDMX) | 1:00 p. m. (EDT) To connect through telephone, access this link. To connect through Internet, access webcast Additionally, the Spanish version of the conference call will take place at 10:00 a.m. (CDMX) / 12:00 p.m. (ET) Please follow this link to find the instructions to connect: Información Financiera / Calendario financiero / Reporte de Resultados al 30 de junio de 2026. A question-and-answer session will follow the presentation. Participants will be able to ask questions via telephone and electronically via the webcast interface. The teleconference and webcast replay will be available on July 31, 2026, at 2:00 p.m. (ET) and until October 31, 2026, through this link. As of August 10, 2026, the conference call replay will be available at Unaudited Financial Results 2026. Investor Relations e-mail: ri@pemex.com X: @Pemex Web: www.pemex.com/en Regulatory Filings Review the audited and unaudited information filed with the CNBV and the BMV. Online Institutional Database Access PEMEX’s official operating information database interactively .
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12. Contact the Investor Relations Team l 2Q26 www.pemex.com 36 of 36 2026. Petróleos Mexicanos. All rights reserved. If you would like to be included in our distribution list, please register on http://www.pemex.com/en/investors/Paginas/list-distribution-signup.aspx Follow us on: @Pemex If you would like to contact us, please call us at (52 55) 9126 2940, or send an email to ri@pemex.com Cristina Arista delia.cristina.arista@pemex.com José González jose.manuel.gonzaleze@pemex.com Belem Romero graciela.belem.romero@pemex.com Alejandro López alejandro.lopezm@pemex.com Variations Cumulative or year-on-year variations are calculated by comparison with the corresponding period of the prior year, unless otherwise specified. Rounding As a result of rounding, certain totals may not add up precisely to the sum of the figures presented. Financial Information Except for budgetary and volumetric information, the financial information included in this report and the related appendices is based on the consolidated financial statements prepared in accordance with International Financial Reporting Standards (“IFRS”) , which PEMEX adopted as of January 1, 2012. For further information regarding the adoption of IFRS, please refer to Note 23 to the consolidated financial statements included in the 2012 Annual Report filed with the Comisión Nacional Bancaria y de Valores (“CNBV”), or the 2012 Form 20-F filed with the U.S. Securities and Exchange Commission (“SEC”). EBITDA is a non-IFRS financial measure. A reconciliation of EBITDA is presented in Table 33 of the appendices to this report. Budgetary information is prepared in accordance with Government Accounting Standards and, therefore, does not include the subsidia ry companies and affiliates of Petróleos Mexicanos. It is important to note that our outstanding credit agreements do not include financial covenants or events of default that could arise as a result of negative equity. Methodology The methodology used to prepare the information published herein may be modified from time to time in order to improve its quality and usefulness and/or to align it with international standards and best practices. Foreign Exchange Conversions For reference purposes, translations from Mexican pesos into U.S. dollars have been made at the prevailing closing exchange rate for the relevant period, unless otherwise indicated. Due to market volatility, differences between the average exchange rate, t he closing exchange rate, the spot exchange rate or any other exchange rate could be material. Such translations should not be construed as representing that peso amounts have been or could be converted into U.S. dollars at the exchange rate used. Both our consolidated financial statements and accounting records are maintained in Mexican pesos. As of June 30, 2026, the exchange rate used for convenience translations was Ps. 17.4700 = U.S.$1.00. Fiscal Regime As of January 1, 2015, the tax regime applicable to Petróleos Mexicanos is established in the Hydrocarbons Revenue Law. On March 18, 2025, a new secondary regulatory framework was published in the Official Gazette of the Federation. Amendments and repeals to various provisions of the Hydrocarbons Revenue Law modified PEMEX’s tax regime. The Shared Profit Duty, the Hydrocarbons Extraction Duty and the Hydrocarbons Exploration Duty were repealed and replaced by the Welfare Oil Duty, which establishes a single tax rate applicable to the value of hydrocarbons extracted by assignees, thereby simplifying the tax regime. This new d uty provides for a unified rate of 30% on the value of hydrocarbons extracted, without deductions, and a differentiated rate of 11.63% for non -associated natural gas. In addition, the reform exempts PEMEX from the payment of income tax as a result of its change in legal nature to a state-owned public company. The Special Tax on Production and Services (“IEPS”) applicable to automotive gasoline and diesel is established in the Special Tax on Production and Services Law. PEMEX acts as an intermediary between the Ministry of Finance and Public Credit (“SHCP”) and the final consumer by withholding the IEPS and subsequently transferring it to the Federal Government. As of January 1, 2018, retail gasoline and diesel prices are determined under market conditions. Production-sharing Pursuant to the production sharing agreements in which Petróleos Mexicanos participates as a result of its participation in bidding rounds conducted by the National Hydrocarbons Commission (“CNH”) and block migrations, PEMEX discloses only its proportional share of production for the Ek-Balam field, Block 2 Tampico-Misantla (Round 2.1), Block 8 Southern Basins (Round 2.1), Santuario, Misión, Block 16 Tampico -Misantla-Veracruz (Round 3.1), Block 17 Tampico -Misantla-Veracruz (Round 3.1), Block 18 Tampico -Misantla-Veracruz (Round 3.1), Block 29 Offshore Southern Basins (Round 3.1), Block 32 Offshore Southern Basins (Round 3.1), Block 33 Offshore Southern Basins (Round 3.1) and Block 35 Offshore Southern Basins (Round 3.1). Hydrocarbon Reserves Pursuant to the Hydrocarbons Sector Law, published in the Official Gazette of the Federation on March 18, 2025, the Ministry of Energy (“SENER”) will establish and administer an electronic information platform to collect, safeguard, manage, analyze, update and publish information and statistics relating to, among other matters, hydrocarbon reserves, including reserve estimation reports and evaluation, quantification and certification studies. On August 13, 2015, the CNH published guidelines regulating the p rocedure for the quantification and certification of the Nation’s reserves and the related contingent resources report. As of January 1, 2010, the SEC amended its disclosure guidelines to permit the disclosure of probable and possible reserves. However, any descriptions of probable or possible reserves contained in this document do not necessarily comply with the recovery l imits set forth in the SEC’s definitions. Investors are encouraged to carefully consider the disclosures contained in the Annual Report filed with the CNBV and in PEMEX’s most recent Form 20 - F filed with the SEC, both of which are available at www.pemex.com. Forward-looking Statements This document contains forward -looking statements. Forward -looking statements may be made orally or in writing in PEMEX’s periodic reports filed with the CNBV and the SEC, in statements, offering memoranda and prospectuses, in publications and other writte n materials, and in oral statements made by PEMEX’s directors or employees to third parties. Such forward-looking statements may include, among others, statements regarding: • exploration and extraction activities, including drilling; • activities relating to import, export, refining, transportation, storage and distribution of petrochemicals, petroleum, natural gas and oil products; • activities relating to our lines of business, including power generation; • projected and targeted capital expenditures and other costs; • trends in international and Mexican crude oil and natural gas prices; • liquidity and sources of funding, including our ability to continue operating as a going concern; • farm-outs, joint ventures and strategic alliances with other companies; and • the monetization of certain of our assets. Actual results could differ materially from those projected in such forward-looking statements as a result of various factors that may be beyond our control. These factors include, but are not limited to: • general economic and business conditions, including changes in international and Mexican crude oil and natural gas prices, refining margins and prevailing exchange rates; • credit ratings and limitations on our access to sources of financing on competitive terms; • our ability to find, acquire or gain access to additional reserves and to develop, either on our own or with our strategic partners, the reserves that we obtain successfully; • the level of financial and other support we receive from the Mexican Government; • national or international public health events, including the outbreak of pandemics or contagious disease; • the outbreak of military hostilities, including an escalation of the military conflict involving Russia and Ukraine, the conflict in the Middle East and disruptions to shipping operations in the Red Sea; • effects on us from competition, including our ability to hire and retain skilled personnel; • uncertainties inherent in making estimates of oil and gas reserves, including recently discovered oil and gas reserves; • technical difficulties; • significant developments in the global economy; • significant economic or political developments in Mexico and the United States; • developments affecting the energy sector; • changes in, or failure to comply with, our legal regime or regulatory environment, including with respect to tax, environmental regulations and corruption regulations; • receipt of governmental approvals, permits and licenses; • natural disasters, accidents, blockades and acts of sabotage or terrorism; • the cost and availability of adequate insurance coverage; and • the effectiveness of our risk management policies and procedures. Accordingly, you should not place undue reliance on these forward -looking statements. In any event, these statements speak only as of their dates, and we undertake no obligation to update or revise any of them, whether as a result of new information, futur e events or otherwise. These risks and uncertainties are detailed in the Company’s most recent Annual Report filed with the Comisión Nacional Bancaria y de Valores (CNBV), available on the website of Bolsa Mexicana de Valores, S.A.B. de C.V., and in Petról eos Mexicanos’ most recent Form 20 -F filed with the U.S. Securities and Exchange Commission (SEC). Such factors may cause actual results to differ materially from those expressed or implied in any forward-looking statements.