RESULTS Second Quarter 2016 2Q16 RESULTS

GRUPO MÉXICO

Relevant figures in US dollars1 Investor Contact: Marlene Finny (55) 1103-5344

Mexico City, July 25, 2016—Grupo México, S.A.B. de C.V. (“Grupo México” “GMéxico” - BMV: GMEXICOB).

 In the Mining Division, we consolidated ourselves again as the company with the

[email protected] www.gmexico.com

lowest cash cost in the industry worldwide. In 2Q16, the copper cash-cost per pound, net of byproducts, reached US$1.04, 20% less than in 2Q15. This reduction was a result of greater low-cost production thanks to the conclusion of the first stage of the investment program, as well as of savings generated by the cost-control initiatives

 Copper

production in 1H16 increased 21% (92,923 tons), representing a record figure for a first semester, as it reached 528,096 tons of copper, due to the start of operations of the new projects at the Buenavista mine in Sonora, which boosted this mine’s production by 73% compared to 1H15. Our gold (+73%), zinc (+30%), and silver (+27%) production increased too.



Despite a decrease of 21% in copper prices, 23% in molybdenum, and 16% in zinc, consolidated sales in 1H16 reached US$4.01 billion, only 6% less than in 1H15 due to the increase in volumes thanks to the Buenavista expansion. In the Transportation Division, the volume in tons/km rose 5% compared to 1H15; however, a 19% depreciation of the peso vs. the USD had a negative effect on sales, which dropped 4% (in peso terms, we saw a 14% increase). In Infrastructure, sales rose 7% to US$307 million

    

Cost of sales in 1H16 reached US$2.23 billion, 5% less than in 1H15. In the Mining Division, costs rose 1% due to greater production volumes. In the Transportation Division, it decreased 9% thanks to greater productivity. In the Infrastructure Division, it rose 6% compared to 1H15, mainly because of the start of operations of the 2 nd combined cycle plant. 1H16 EBITDA totaled US$1.61 billion, 8% less than in 1H15, mainly because of the drop in metal prices. In the Mining Division, it reached US$1.08 billion, with a 36% margin. In the Transportation Division, it reached US$375 million, 4% higher than in 1H15, with a record margin of 41%. The Infrastructure Division achieved US$149 million in EBITDA with a 49% margin.

Net consolidated profit totaled US$757 million in 1H16, which implies an 8% increase compared to 1H15, with a margin equivalent to 19% of sales. Capital investments totaled US$714 million. In 2016, we continue to develop our investment program to increase copper production capacity by 90%, from our production level of 808,000 tons in 2013 to over 1.3 million tons. Notwithstanding the environment of metal prices and market volatility, the Management Board declared a cash dividend payment of $0.15 pesos per share outstanding, in order to be consistent and continue with the practice of generating value for shareholders. This dividend will be paid in a single installment beginning on August 26, 2016.

(Thousand US Dollars) Sales Cost of Sales Operating Income EBITDA EBITDA Margin (%) Net Income Profit Margin (%) Investments / Capex Employees

Second Quarter 2015 2016

Variance US$000 %

January - June 2015 2016

Variance US$000 %

2,195,078

2,089,262

(105,815)

(4.8)

4,278,418

4,009,841

(268,577)

1,177,023

1,152,999

(24,024)

(2.0)

2,341,235

2,235,297

(105,938)

(4.5)

719,679

611,577

(108,102)

(15.0)

1,355,925

1,153,038

(202,888)

(15.0)

917,387

883,441

(33,946)

(3.7)

1,742,599

1,611,711

(130,888)

(7.5)

54,771

7.8

41.8% 365,896 16.7%

42.3% 350,288

40.7% (15,608)

(4.3)

16.8%

702,412 16.4%

(6.3)

40.2% 757,183 18.9%

462,759

453,464

(9,295)

(2.0)

796,611

714,272

(82,338)

(10.3)

29,967

29,933

(34)

(0.1)

29,967

29,933

(34)

(0.1)

1

All figures are in dollars ("US$"), United States currency, under US GAAP, unless otherwise stated.

2Q16

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2Q16 RESULTS

GRUPO MÉXICO

Relevant Events by Division Mining Division Expansion of Buenavista Completed-Sonora, Mexico.- Of the $3.5 billion in this investment program, the company has already invested $3.22 billion. Excluding the Quebalix IV project and some other lesser infrastructure facilities, all the other facilities of this program are currently operational, and we expect to produce 460,000 tons of copper in 2016 and 500,000 tons in 2017. The Buenavista investment program is being completed on time and below the expected budget. Buenavista’s Concentrator II is working at 105% of its total design capacity of 188,000 tons of copper content. This concludes our 2 main expansions in Mexico (the solvent extraction and electrowinning III plant with 120,000 tons of copper content, and the Concentrator II plant). Better Cost Profile.- The increase in low-cost production has a bearing not only on our volumes, but it also has a positive effect on our cost structure, due to the economies of scale and state-of-the-art technology used in the expansions. Likewise, we were able to increase production of other metals, which provides greater credits through byproducts and improves costs. Commercial Program Completed.- Despite the current environment that the copper market faces, we have managed to place all our new production from the Buenavista II Concentrator in 2016, totaling 700,000 tons of copper concentrates, under better terms than the market benchmark for this year. We Made Progress on the Toquepala Expansion - Tacna, Peru.- This Project includes a new concentrator with state-of-the-art technology that will increase annual production capacity by 100,000 tons of copper to 235,000 tons by 2018. It will also increase molybdenum production by 3,100 tons with a capital investment of $1.2 billion. Up to June 30, 2016, we have invested $431.1 million in the project, and it should be completed by 2Q18. Normalization of Operations at Santa Eulalia and Charcas.- After solving the flood issues that affected the Santa Eulalia unit and the cave-in that hampered the Charcas unit in 2015, due to an earthquake, zinc production during 2Q16 increased 43% to 19,994 tons vs. 2Q15. Santa Eulalia raised its production by 100% and Charcas by 35%. Significant reduction in cash cost in ASARCO.- By 2Q16, copper cash cost per pound, net of byproducts, stood at US$1.66; that is, 19% less than in 2Q15, and 34% below the same period of 2014. This reduction was a result of our constant effort to optimize our cost structure through various control measures, including the partial shutdown of our less efficient operations at the Hayden Concentrator Plant, as well as a reduction in our labor force by 454 employees. Despite these measures, ASARCO managed to increase production during 1H16 by 3% to 80,594 tons of copper. Reorganization of the Mining Division.- In response to the adverse market conditions, and as part of our ongoing improvement program, we have carried out a corporate reorganization of the Mining Division. The administrative departments of all our subsidiaries have been restructured to centralize functions, new IT systems have been implemented, and a shared services center was set up in Hermosillo, Sonora, where we have concentrated all the Mining Division’s transactional operations. Thus, we have achieved significant savings by finding synergies and economies of scale. We remain committed to our strict cost control, so we will continue to work on important projects that will yield even more benefits, such as a strategic supply center.

2Q16

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2Q16 RESULTS

GRUPO MÉXICO

Transportation Division The Transportation division continues to grow.- In 2Q16, compared to the same period last year, we experienced 2.4% growth in Ton-Km, operating profit rose 10.1%, and EBITDA 6.3%. All of this, notwithstanding a 19.2% devaluation in the peso-USD parity. Operating Performance Improves.- During the quarter, a new record was achieved in EBITDA margin, which reached 41.8%, well above the 37.4% reported in the same period last year. Growth in the Farming Sector.- The segment showed 10% accrued growth in Ton-Km, given the 16.4% rise in the hauling of imports of basic grains across the border, in terms of Ton-Km. Automotive Segment Growth.- The segment showed accrued growth of 13.4% in Ton-Km due to the rise in vehicle exports across the border at Piedras Negras and Ciudad Juarez. Growth in the Intermodal Segment.- This segment’s growth is due to a greater number of containers hauled, mainly with an increase in cross-border traffic from Monterrey and Silao to Chicago. This segment accrued 8.8% growth in Ton-Km. Growth in the Metals Segment.- Accrued growth totaled 19.8% in Ton-Km. The growth of the country’s automotive industry helped to increase the hauling of products for automotive manufacture; likewise, we have also gained market share in hauls for the national metals industry.

Infrastructure Division Good flow on the Salamanca-Leon Highway.- During 2Q16, the highway reported record revenues of $124.7 million pesos and a weighted average daily traffic (ADT) of 9,505 vehicles. Revenues rose 8% in 2Q16, and the weighted average daily traffic increased 2.3% compared to 1Q16. Tamaulipas Modular Platform.- We are awaiting the location from PEMEX. PEMEX is expected to assign us a fixed platform location in 3Q16, and then the mobilization process will begin. Grupo Mexico Servicios de Ingenieria (GMSI).- Detailed engineering for the expansion of the Toquepala concentrator plant is currently underway, reporting 81% progress.

2Q16

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2Q16 RESULTS

GRUPO MÉXICO

Financing 2015 Gross (US$000) Grupo México Americas Mining Corporation Southern Copper Corporation Asarco Gméxico Transportes GFM - Ferromex

Debt

Gross

(1)

Debt

(1)

Banks

(2)

Debt

-

-

55,009

(55,009)

-

-

134,952

(134,952)

6,152,219

5,952,854

550,683

103,412

78,701

65,710

12,991

-

188,431

(188,431) 64,024

-

Ferrosur México Proyectos y Desarrollos Grupo Mexico (Consolidated)

As of June 30, 2016 Cash & Net

5,402,171

332,918

263,690

199,666

43,060

31,177

37,264

1,207,971

1,108,531

94,454

1,014,077

7,839,580

7,434,955

1,326,169

6,108,784

(6,087)

(1) include Debt Fees (2) include Short Term Investment

GMexico maintains a solid balance sheet with a low leverage and a net debt to EBITDA ratio of 2.1x. 93% of the debt contracts are in US dollars, and 7% are in pesos. 90% of the debt has a fixed rate. Moreover, GMexico has a comfortable debt maturities calendar; we have no significant capital payments until 2035. The Company’s financial soundness enables it to be well positioned to face the difficult economic environment that affects its various Divisions and maintain its commitment to continue with its aggressive expansion program, as well as to analyze possible opportunities that may arise in the market.

Grupo Mexico Debt Schedule Up to June 30, 2016 1,600.0 1,400.0 1,200.0 1,000.0 800.0 600.0 400.0

200.0

Mining Division

2Q16

Transportation Division

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Infrastructure Division

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2045

2044

2043

2042

2041

2040

2039

2038

2037

2036

2035

2034

2033

2032

2031

2030

2029

2028

2027

2026

2025

2024

2023

2022

2021

2020

2019

2018

2017

2016

-

2Q16 RESULTS

GRUPO MÉXICO

Mining Division Americas Mining Corporation Relevant Figures (Thousand US Dollars)

Sales Cost of Sales Operating Income EBITDA

Second Quarter 2015 2016 1,615,584

1,552,759

893,243

935,489

514,711

384,127

676,182

583,558

EBITDA Margin (%) Net Income Profit Margin (%)

266,039

Investments / Capex

310,087

41.9% 16.5%

Variance US$000 %

January - June 2015 2016

(62,824)

(3.9)

3,163,029

2,989,992

(173,037)

(5.5)

42,246

4.7

1,804,144

1,827,474

23,330

1.3

(130,584) (25.4)

958,316

721,394

(236,923) (24.7)

(92,624) (13.7)

1,270,131

1,086,046

(184,085) (14.5)

37.6% 207,896

40.2% (58,143) (21.9)

13.4% 364,683

Variance US$000 %

512,029

36.3% 560,619

16.2% 54,596

17.6

576,678

48,590

18.7%

9.5

-

601,018

24,340

4.2

Average Metal Prices

Copper

3Q

4Q

1Q

2015

2015

2016

Second Quarter 2016

2015

Var. %

January - June 2016

Var.

2015

%

($cts/Pound)

2.40

2.20

2.11

2.13

2.77

(23.2)

2.12

2.72

(22.1)

Molybdenum ($dlls/Pound)

5.75

4.75

5.27

6.89

7.45

(7.5)

6.08

7.93

(23.3)

Zinc

($cts/Pound)

0.84

0.73

0.76

0.87

1.00

(12.7)

0.81

0.97

(16.0)

Silver

($dlls/Ounce)

14.87

14.75

14.87

16.83

16.38

2.7

15.85

16.54

(4.2)

Gold

($dlls/Ounce)

1,124.01

1,104.40

1,181.21

1,259.36

1,192.82

5.6

1,220.28

1,206.02

Lead

($cts/Pound)

0.78

0.76

0.79

0.78

0.88

(11.7)

0.78

0.85

(7.8)

72.40

71.76

46.35

49.78

74.96

(33.6)

48.08

72.21

(33.4)

Sulfuric Acid ($dlls/Ton)

1.2

So urce: Co pper & Silver - COM EX; Zinc & Go ld - LM E; M o lybdenum - M etals Week Dealer Oxide, Sulfuric A cid - A M C

Copper.- Copper production in 1H16 increased 21% vs. 1H15 to 528,096 tons. This translates into an increase of 92,923 tons, as a result of greater production at Buenavista (+73%), mainly. Molybdenum.- Molybdenum production in 1H16 decreased 7% to 10,875 tons compared to the same period last year, given a lower production at Toquepala, due to lower ore grades. Zinc.- Zinc production in 1H16 increased 30% to 38,023 tons compared to 29,174 tons in 1H15. This increase resulted from the start of operations of the Santa Eulalia mine following the problems caused by the flood that affected production in 2015. Silver.- In 1H16, silver production increased (+27%) to 9,065 ounces compared to 1H15, due to greater production in Buenavista (+141%) and Mission (+42%). Gold.- Gold production increased (+73%) to 32,663 ounces, given a higher production in Buenavista (+159%).

2Q16

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2Q16 RESULTS

GRUPO MÉXICO

Mining Production Mining Division Copper Production Sales Molybdenum Production Sales Zinc Production Sales Silver Production Sales Gold Production Sales Sulfuric Acid Production Sales

Second Quarter 2015 2016

Variance

January - June 2015 2016

%

Variance %

(MT) ($US MM)

216,871 1,348,000

266,071 1,241,884

49,201 (106,117)

22.7 (7.9)

435,173 2,595,729

528,096 2,426,623

92,923 (169,107)

21.4 (6.5)

(MT) ($US MM)

5,758 63,000

5,305 81,281

(453) 18,281

(7.9) 29.0

11,635 153,633

10,875 136,531

(760) (17,103)

(6.5) (11.1)

(MT) ($US MM)

13,979 58,735

19,994 57,159

6,015 (1,576)

43.0 (2.7)

29,174 117,355

38,023 102,806

8,849 (14,549)

30.3 (12.4)

('000 Oz) ($US MM)

3,012 54,322

4,075 69,643

1,063 15,321

35.3 28.2

6,270 110,649

7,825 130,636

1,554 19,987

24.8 18.1

(Oz) ($US MM)

34,671 40,406

47,179 60,461

12,508 20,055

36.1 49.6

64,547 76,675

87,672 108,515

23,125 31,840

35.8 41.5

(MT) ($US MM)

584,482 31,790

682,884 24,331

98,403 (7,459)

16.8 (23.5)

1,289,706 65,442

1,385,809 47,218

96,103 (18,224)

7.5 (27.8)

Cash Cost In 1H16, operating cash cost per pound of copper, before byproducts, was US$1.47, below the US$1.74 accrued in 1H15 (-16%). The reduction was mainly due to operating improvements resulting from greater low-cost production from the Buenavista expansions and lower fuel costs. In 1H16, operating cash costs per pound of copper, net of byproducts, reached US$1.07, vs. US$1.24 (-14%) in the same period last year. This was despite the sharp drop in the prices of byproducts molybdenum (-23%) and silver (-16%).

Sales Distribution The contribution of each metal to AMC’s accrued sales in 2016 is depicted below:

Zinc Sulfuric Acid 3.4% 1.6%

Gold 3.6%

Others 0.6% Lead 0.7%

Molybdenum 4.6% Silver 4.4%

Copper 81.2%

2Q16

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2Q16 RESULTS

GRUPO MÉXICO

Mining Projects Projects in Mexico Crushing, Conveying, and Spreading System for Leachable Ore (Quebalix IV).- The main goal of this project is to reduce processing times, as well as mining and hauling costs. It will also increase production by improving SX/EW copper recovery. It has a crushing and conveying capacity of 80 million tons per year, and we expect it to be completed in 3Q16. By June 30, 2016, the Project shows 98% progress with an investment of $248.4 million out of an approved capital budget of $340 million. Infrastructure.- The remaining projects, which complete the investment program, include the necessary infrastructure (power lines and substations, water supply, tailings dam, mine equipment shops, internal roads, etc.).

Projects in Peru High Pressure Grinding Roller System (HPGR) Toquepala, Peru.- The main goal of this project is to ensure that the existing concentrator operates at its full capacity of 60,000 tons per day, despite an increase in the hardness of the material. Moreover, recoveries will improve with a better crushed mineral. The budget for this project is $40 million, and we have invested $11.7 million up to June 30, 2016. It should be completed by 4Q17. Cuajone´s Heavy Mineral Management Optimizing Project -Moquegua, Peru. The Project consists in installing a primary in-pit crusher at the Cuajone mine with a conveyor system to transport the ore to the concentrator. The project will optimize the hauling process, substituting rail haulage, and thus reducing operating and maintenance costs, as well as the environmental impact of the Cuajone mine. The crusher will have a processing capacity of 43.8 million tons per year. The main components, including the crusher and overland belt, have been acquired and we have begun preparing the land and the civil works. Up to June 30, 2016, we have invested $102.2 million in this project out of a capital budget of $165.5 million. The project should be completed by 2Q17.

2Q16

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2Q16 RESULTS

GRUPO MÉXICO

Transportation Division Relevant Figures (Thousand US Dollars) Load Volume (MillionTons/Km)

Moved Cars Sales Cost of Sales Operating Income EBITDA EBITDA Margin (%) Net Income Profit Margin (%) Investments / Capex

Second Quarter 2015 2016

Variance US$000 %

14,134

14,471

400,440

319,876

(80,564)

504,112

479,099

294,001

264,016

149,517 188,484 37.4% 87,250 17.3% 114,299

337

January - June 2015 2016

Variance US$000 %

2.4

26,607

27,847

1,240

4.7

(20.1)

598,070

618,223

20,153

3.4

(25,013)

(5.0)

954,810

914,553

(40,257)

(4.2)

(29,985)

(10.2)

563,717

511,163

(52,554)

(9.3)

160,327

10,810

7.2

270,736

296,224

25,488

9.4

200,402

11,918

6.3

359,565

374,550

14,985

4.2

17,364

10.9

(61,342)

(36.4)

41.8% 97,663

37.7% 10,413

11.9

159,953

20.4% 86,314

41.0% 177,317

16.8% (27,985)

(24.5)

19.4%

168,474

107,132

The Transportation Division’s total revenues up to 2Q16 amounted to US$915 million, 4.2% lower than in the same period of 2015. This is due to the conversion effect resulting from a 19.3% devaluation of the peso vs. the USD. Revenues in peso terms showed an accrued increase of 14.1% up to 2Q16, compared to the same period last year. Volumes transported in 2Q16 increased 4.7% in tons per kilometer compared to the same period of 2015. Each segment’s revenue contribution up to June 30, 2016, is shown below: Tons – Km.

Revenues per Segment

Automotive, 1,493 Cement, 1,500

Cement, 8% Others, 4%

Agricultural, 28%

Industrial, 1,697

Agricultural, 10,270

Siderurgical, 8% Energy, 1,967

Intermodal, 5% Intermodal, 2,061

Energy, 11%

Automotive, 8% Chemical, 2,395

Chemical, 9%

Industrial, 7% Mineral, 12%

2Q16

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Siderurgical, 2,733

Mineral, 3,731

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2Q16 RESULTS

GRUPO MÉXICO

EBITDA up to 2Q16 and 1H16 grew 6.3% and 4.2%, respectively, compared to the same periods of 2015, from US$188.5 to US$200.3 million in the quarter, and from US$359.6 to US$374.5 million in the first half of the year. Margins improved significantly from 37.4% in 2Q15 to 41.8% in 2Q16, and from 37.7% in 1H15 to 40.9% in 1H16. EBITDA growth expressed in pesos was 23.9% in the period accrued up to December 2016, compared to 2015. Capital Investments.- By 2Q16, capital investments totaled $107 million, including the purchase of the first 10 locomotives out of a total of 50 scheduled for 2016, and the development of infrastructure and telecommunications projects, which will bring greater operating efficiencies.

2Q16

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2Q16 RESULTS

GRUPO MÉXICO

Infrastructure Division MPD Relevant Figures (Thousand US Dollars) Sales Cost of Sales Operating Income EBITDA EBITDA Margin (%) Net Income (Loss) EBITDA Margin (%) Investments / Capex

Second Quarter 2015 2016

Variance US$000 %

January - June 2015 2016

Variance US$000 %

137,634

156,190

18,556

13.5

288,256

307,577

19,320

68,791

70,851

2,060

3.0

139,983

148,475

8,492

6.1

42,957

53,697

10,740

25.0

98,025

96,169

(1,856)

(1.9)

59,242

81,526

22,284

37.6

132,559

149,296

16,737

12.6

7,670

14.2

(45,336)

(88.1)

43.0% 22,095 16.1% 38,373

52.2% 45,080

46.0% 22,985

104.0

28.9% 2,467

54,086 18.8%

(35,906)

(93.6)

51,459

6.7

48.5% 61,756 20.1% 6,122

During 2Q16, MPD’s consolidated sales reached US$156.2 million, 13% more than in the same period last year, mainly due to greater energy sales by MGE, in line with the expansion of the Buenavista Concetrator and the operation of tranche II of the highway, which compensated for the reduction in PEMSA rates, and the lower production volumes of the construction branch related to the highway. The Division’s EBITDA totaled US$81.5 million, representing a 37% increase compared to the same period last year. Capital investments.- Up to June 2016, we have invested US$6.1 million in the Infrastructure Division. Among the investments, we should note the US$1.6 million to remodel the Sonora platform, the US$3.4 million for the new Tamaulipas modular platform, and US$4.8 million to finish the Salamanca-Leon highway (recorded as other assets).

*****

2Q16

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2Q16 RESULTS

GRUPO MÉXICO

Company Profile Grupo Mexico “GMéxico” is a holding company whose main activities are: (i) mining, where it is one of the largest integrated copper producers worldwide; (ii) the vastest railway system in Mexico; and (iii) engineering, procuring, construction, and drilling services. These business lines are grouped under the following subsidiaries: GMexico’s Mining Division is represented by its subsidiary Americas Mining Corporation (“AMC”), whose main subsidiaries are Southern Copper Corporation (“SCC”) in Mexico and Peru, and Asarco In the USA. Both companies together hold the largest copper reserves in the world. SCC trades on the New York and Lima stock exchanges. SCC’s shareholders, directly or through subsidiaries, are: GMexico (88.8%) and other shareholders (11.2%). It has mines, metallurgical plants and exploration projects in Peru, Mexico, the USA, Spain, Chile, Argentina, and Ecuador. Asarco was reincorporated into GMexico on December 9, 2009. It has 3 mines and 1 smelting plant in Arizona, and 1 refinery in Texas. GMexico’s Transportation Division is represented by its subsidiary Infraestructura y Transportes México, S.A. de C.V. (“ITM”) and FM Rail Holding S.A. de C.V. (“FM Rail Holding”). Its main subsidiaries are Grupo Ferroviario Mexicano, S.A. de C.V. (“GFM”), Ferrocarril Mexicano, S.A. de C.V. (“Ferromex”), Ferrosur, S. A. de C. V. (“Ferrosur”), Intermodal México, S.A. de C.V., and Texas Pacifico, LP, Inc. Ferromex is the largest railway company and has the largest coverage in Mexico. Its network spans 8,111 km. of railways covering roughly 71% of the Mexican territory. Ferromex’s lines connect at five border points with the USA, as well as at four ports on the Pacific Coast, and two on the Gulf of Mexico. GMexico holds 55.% of Ferromex, Union Pacific holds 26%, and Grupo Carso-Sinca Inbursa, 18.5%. Ferrosur’s railway network spans 1,549 km. covering the center and southeast of the country. It serves the states of Tlaxcala, Puebla, Veracruz, and Oaxaca, mainly, and has access to the Veracruz and Coatzacoalcos ports in the Gulf of Mexico. GMexico holds 74.99% of Ferrosur, and Grupo Carso-Sinca Inbursa holds 25.01%. GMexico’s Infrastructure Division is represented by its subsidiary México Proyectos y Desarrollos, S.A. de C.V. (“MPD”). Its main subsidiaries are México Compañía Constructora, S.A. de C.V. (“MCC”), Servicios de Ingeniería Consutec, S.A. de C.V. (“Consutec”), Compañía Perforadora México, S.A.P.I. de C.V. (“La México”), and México Generadora de Energía (“MGE”). MPD, La México, MCC, Consutec, and MGE are all 100% controlled by GMéxico. MPD and MCC participate in engineering, procuring, and construction activities for infrastructure works. Consutec’s business line is integrated project engineering. La Mexico offers drilling services for oil and water exploration, and related added value services, such as cementation engineering, and directional drilling. MGE is active in the construction and services to combined cycle energy plants. ___________________________ This report includes certain estimates and future projections that are subject to risks and uncertainty of their real results, which could differ significantly from the figures expressed. A lot of these risks and uncertainty are related to risk factors that GMexico cannot control or estimate precisely, such as future market conditions, metal prices, the performance of other market participants, and the actions of government regulators, all of which are described in detail in the Company’s annual report. GMexico is under no obligation to publish a revision of these future projections to reflect events or circumstances that may take place following the release of this report.

2Q16

www.gmexico.com

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2Q16 RESULTS

GRUPO MÉXICO

Conference call to discuss the results of the second quarter of 2016 Mexico City, July 25, 2016— Grupo Mexico, S.A.B. de C.V. (“Grupo Mexico” -BMV: GMEXICOB) will hold its conference call to comment on the results for the second quarter of 2016 with the financial community on July 26, 2016 at 12:00 pm (Mexico time). A Q&A session for analysts and investors shall follow the call. To participate, please dial 10 minutes before the start of the conference call: (888) 771-4371 (US participants) (847) 585-4405 (participants outside the US) Confirmation code:

43057808

A repetition of the call shall be available 2 hours following the end of the call and until August 9, 2016. Afterwards, a transcription of the call shall be made available via Grupo Mexico’s website. (888) 843-7419 (participants from the US) (630) 652-3042 (participants outside the US) Confirmation code: 43057808#

2Q16

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2Q16 RESULTS

GRUPO MÉXICO

GRUPO MEXICO, S.A.B. DE C.V. (GM) CONSOLIDATED FINANCIAL STATEMENTS (US GAAP) (Thousands of US Dollars) STATEMENT OF EARNINGS Net sales Cost of sales Exploration Gross profit Gross margin Administrative expenses Environmental remediation EBITDA Depreciation, amortization and depletion Operating income Operating margin Interest expense Interest income (Gain) loss in investments Other (income) expense, net Earnings before Tax Taxes Participation in subsidiary not consolidated and associated Net Earnings Net income attributable to the non-controlling interest Net income attributable to GM BALANCE SHEET Cash and cash equivalents Restricted cash Notes and accounts receivable Inventories Prepaid and others current assets Total Current Assets Property, plant and equipment, Net Leachable material, net Other long term assets Total Assets Liabilities and Stockholders' Equity Current - term debt Accumulated liabilities Current Liabilities Long-term debt Other non-current liabilities Total Liabilities Stockholders equity Other equity accounts Retaining earnings Total Stockholders' equity Non-controlling interest. Total Liabilities and Equity CASH FLOW Net earnings Depreciation, amortization and depletion Deferred income taxes Participation in subsidiary not consolidated and associated Other Net Changes in assets and liabilities Cash generated by operating activities Capital expenditures Restricted cash Other - Net Cash used in investing activities Debt incurred Debt repaid Dividends paid SCC common shares buyback Cash used in financing activities Effect of exchance rate changes on cash and cash equivalents Net increase (decrease) cash & cash equivalents Cash and cash equivalents - Beginning of year Cash and cash equivalents - End of year

2Q16

Quarters

Accumulated

Q2-16 2,089,262 1,153,000 10,286 925,977 44% 54,357 883,441 260,043 611,577 29% 96,980 (4,295) (117,945) (11,627) 648,464 216,105

Q2-15 2,195,078 1,177,023 12,158 1,005,898 46% 58,208 10,532 917,387 217,479 719,679 33% 72,824 (12,198) (34,689) 32,853 660,889 212,748

Variance (105,816) (24,023) (1,872) (79,921)

2015 4,278,418 2,341,235 22,633 1,914,549 45% 116,366 16,460 1,742,599 425,799 1,355,925 32% 117,103 (16,846) (70,473) 59,169 1,266,971 406,513

Variance (268,577) (105,938) (1,831) (160,808)

24,156 7,903 (83,256) (44,480) (12,425) 3,357

2016 4,009,841 2,235,297 20,802 1,753,741 44% 111,499 1,611,711 489,205 1,153,038 29% 195,558 (8,135) (406,536) 30,812 1,341,338 444,603

(5,192) 437,551

(5,271) 453,412

79 (15,861)

(11,110) 907,845

(9,065) 869,523

(2,045) 38,322

87,264 350,288

87,516 365,896

(252) (15,609)

150,662 757,183

167,111 702,412

(16,449) 54,771

1,326,169 94,169 777,125 1,028,396 872,864 4,098,723 13,547,006 822,649 3,320,094 21,788,473

2,982,618 154,680 841,678 962,523 744,115 5,685,613 12,982,205 682,734 2,742,617 22,093,168

(1,656,449) (60,511) (64,552) 65,874 128,749 (1,586,890) 564,801 139,916 577,477 (304,696)

1,326,169 94,169 777,125 1,028,396 872,864 4,098,723 13,547,006 822,649 3,320,094 21,788,473

2,982,618 154,680 841,678 962,523 744,115 5,685,613 12,982,205 682,734 2,742,617 22,093,168

(1,656,449) (60,511) (64,552) 65,874 128,749 (1,586,890) 564,801 139,916 577,477 (304,696)

127,881 372,293 1,128,477 1,142,768 1,256,358 1,515,061 7,307,074 7,467,287 1,553,015 1,414,282 10,116,447 10,396,631 2,003,496 2,003,496 (2,652,672) (2,110,006) 10,766,569 10,095,430 10,117,392 9,988,920 1,554,633 1,707,618 21,788,473 22,093,168 437,551 260,043 23,305 (5,192) (147,841) 8,565 576,431 (453,464) 18,434 85,839 (349,191) 5,000 (81,795) (95,359) (172,154) (57,236) (2,149) 1,328,318 1,326,169

453,412 217,479 (29,778)

(3,851) (10,532) (33,946) 42,564 (108,102)

(244,413) (14,291) (258,703) (160,214) 138,733 (280,184) (0) (542,667) 671,139 128,472 (152,984) (304,696) (15,861) 42,564 53,083

(5,271) 79 (51,901) (95,940) (68,985) 77,551 514,956 61,476 (462,759) 9,295 (27,466) 45,901 55,857 29,982 (434,368) 85,178 2,030,790 (2,025,790) (106,059) 24,264 (169,327) 73,968 (44,461) 44,461 1,710,943 (1,883,097) 27,479 1,819,009 1,163,609 2,982,618

www.gmexico.com

(84,715) (1,821,158) 164,710 (1,656,448)

127,881 372,293 1,128,477 1,142,768 1,256,358 1,515,061 7,307,074 7,467,287 1,553,015 1,414,282 10,116,447 10,396,631 2,003,496 2,003,496 (2,652,672) (2,110,006) 10,766,569 10,095,430 10,117,392 9,988,920 1,554,633 1,707,618 21,788,473 22,093,168 907,845 489,205 96,368 (11,110) (404,674) (246,192) 831,442 (714,272) (9,111) (29,371) (752,754) 5,000 (117,233) (138,578) (53,746) (304,557) (50,439) (276,308) 1,602,477 1,326,169

869,523 425,799 (47,139)

(4,867) (16,460) (130,888) 63,406 (202,888) 78,455 8,711 (336,063) (28,358) 74,367 38,089

(244,413) (14,291) (258,703) (160,214) 138,733 (280,184) (0) (542,667) 671,139 128,472 (152,984) (304,696) 38,322 63,406 143,507

(9,065) (2,045) (77,174) (327,500) (215,438) (30,754) 946,506 (115,064) (796,611) 82,339 (62,935) 53,824 3,555 (32,926) (855,991) 103,237 2,094,291 (2,089,291) (130,320) 13,087 (317,145) 178,566 (414,565) 360,819 1,232,261 (1,536,819) 19,471 1,342,248 1,640,370 2,982,618

(69,910) (1,618,556) (37,893) (1,656,448)

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2Q16 RESULTS

GRUPO MÉXICO

AMERICAS MINNING CORPORATION (AMC) CONSOLIDATED FINANCIAL STATEMENTS (US GAAP) (Thousands of US Dollars) STATEMENT OF EARNINGS Net sales Cost of sales Exploration Gross profit Gross margin Administrative expenses Environmental remediation EBITDA Depreciation, amortization and depletion Operating income Operating margin Interest expense Interest income (Gain) loss in investments Other (income) expense, net Earnings before Tax Taxes Participation in subsidiary not consolidated and associated Net Earnings Net income attributable to the non-controlling interest Net income attributable to AMC

Accumulated 2015 3,163,029 1,804,144 22,633 1,336,252 42% 61,003 16,460 1,270,131 300,473 958,316 30% 86,519 (5,770) 8,702 868,865 279,599

Variance (173,037) 23,330 (1,831) (194,536)

18,608 794 (45,310) (11,302) (93,374) (18,171)

2016 2,989,992 1,827,474 20,802 1,141,716 38% 61,997 1,086,046 358,326 721,394 24% 154,619 (4,204) (335,794) (6,046) 912,819 314,153

(2,655) 307,589

(903) (74,300)

(8,670) 607,335

(5,415) 594,681

(3,255) 12,654

25,393 207,896

41,550 266,039

(16,157) (58,143)

46,716 560,619

82,652 512,029

(35,936) 48,590

BALANCE SHEET Cash and cash equivalents Restricted cash Notes and accounts receivable Inventories Prepaid and others current assets Total Current Assets Property, plant and equipment, Net Leachable material, net Other long term assets Total Assets

751,345 8,369 557,309 939,008 756,792 3,012,823 10,057,759 822,649 1,979,332 15,872,563

2,352,789 48,010 575,547 882,815 636,195 4,495,357 9,322,994 682,734 1,494,763 15,995,847

(1,601,444) (39,641) (18,238) 56,193 120,597 (1,482,533) 734,765 139,916 484,569 (123,284)

751,345 8,369 557,309 939,008 756,792 3,012,823 10,057,759 822,649 1,979,332 15,872,563

2,352,789 48,010 575,547 882,815 636,195 4,495,357 9,322,994 682,734 1,494,763 15,995,847

(1,601,444) (39,641) (18,238) 56,193 120,597 (1,482,533) 734,765 139,916 484,569 (123,284)

Liabilities and Stockholders' Equity Long-term debt Other non-current liabilities Current Liabilities Long term debt Other long term liabilities Total Liabilities Stockholders equity Other equity accounts Retained earnings Total Stockholders' equity Non-controlling interest. Total Liabilities and Equity

24,249 224,332 1,462,597 1,398,777 1,486,847 1,623,110 6,007,306 6,031,299 1,126,810 1,063,919 8,620,962 8,718,328 1,056,021 1,056,021 (2,470,154) (1,932,719) 7,998,916 7,307,887 6,584,783 6,431,189 666,817 846,330 15,872,563 15,995,847 -

CASH FLOW Net earnings Depreciation, amortization and depletion Deferred income taxes Participation in subsidiary not consolidated and associated Others Net Changes in assets and liabilities Cash generated by operating activities Capital expenditures Silverbell LLC's Acquisition Restricted cash Capital reimbursement Cash used in investing activities Debt incurred Debt repaid Dividends paid SCC common shares buyback Cash used in financing activities Effect of exchance rate changes on cash and cash equivalents Net increase (decrease) cash & cash equivalents Cash and cash equivalents - Beginning of year Cash and cash equivalents - End of year

2Q16

Quarters Q2-16 1,552,759 935,487 10,286 606,986 39% 29,223 583,558 193,637 384,127 25% 75,809 (1,973) (45,310) (5,602) 361,202 131,472

Q2-15 1,615,584 893,241 12,158 710,185 44% 30,853 10,532 676,182 154,089 514,711 32% 57,201 (2,767) 5,700 454,577 149,643

Variance (62,824) 42,246 (1,872) (103,198)

(3,558) 233,289

233,289 193,637 (2,914) (3,558) (50,075) (310,913) 59,466 (364,682) 535 288,583 (75,564) (6,083) (4,321) (10,404) (29,410) (55,912) 807,257 751,345

307,589 154,089 (32,502)

(1,630) (10,532) (92,624) 39,548 (130,585)

(200,083) 63,820 (136,263) (23,993) 62,891 (97,365) (537,435) 691,029 153,595 (179,513) (123,284) (74,300) 39,548 29,589

(2,655) (903) (19,704) (30,371) (60,138) (250,775) 346,679 (287,213) (310,087) (54,595) 8,800 (8,265) 6,355 282,228 (294,932) 219,367 1,995,790 (1,995,790) (72,083) 66,000 (11,294) 6,973 (44,461) 44,461 1,867,952 (1,878,356) 21,069 1,940,768 412,021 2,352,789

www.gmexico.com

(50,479) (1,996,680) 395,236 (1,601,444)

24,249 224,332 1,462,597 1,398,777 1,486,847 1,623,110 6,007,306 6,031,299 1,126,810 1,063,919 8,620,962 8,718,328 1,056,021 1,056,021 (2,470,154) (1,932,719) 7,998,916 7,307,887 6,584,783 6,431,189 666,817 846,330 15,872,563 15,995,847 607,335 358,326 65,475 (8,670) (324,786) (182,937) 514,743 (601,018) 29,720 (161,704) (733,002) (12,166) (6,941) (53,746) (72,853) (13,444) (304,556) 1,055,901 751,345

594,681 300,473 (56,437)

994 (16,460) (184,086) 57,853 (236,923) 68,100 1,567 (335,794) (14,748) 43,953 34,554

(200,083) 63,820 (136,263) (23,993) 62,891 (97,365) (537,435) 691,029 153,595 (179,513) (123,284) 12,654 57,853 121,912

(5,415) (3,255) (18,326) (306,460) (207,481) 24,543 607,495 (92,753) (576,678) (24,340) (139) 169 29,551 15,421 (177,125) (561,088) (172,053) 2,045,790 (2,045,790) (78,166) 66,000 (23,247) 16,306 (414,565) 360,819 1,529,812 (1,602,665) 19,617 1,595,837 756,952 2,352,789

(33,061) (1,900,393) 298,949 (1,601,444)

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2Q16 RESULTS

GRUPO MÉXICO

GMÉXICO TRANSPORTES, S. A. DE C.V. (GMXT) CONSOLIDATED FINANCIAL STATEMENTS (US GAAP) (Thousands of US Dollars) STATEMENT OF EARNINGS Net sales Cost of sales Gross profit Gross margin Administrative expenses EBITDA Depreciation, amortization and depletion Operating Income Operating margin Interest expense Interest income Other (income) expense - Net Earnings before Tax Taxes Participation in subsidiary not consolidated and associated Net Earnings Net income attributable to the non-controlling interest Net income attributable to ITM BALANCE SHEET Cash and cash equivalents Notes and accounts receivable Inventories Prepaid and others current assets Total Current Assets Property, plant and equipment - Net Other long term assets Total Assets Liabilities and Stockholders' Equity Current portion of long-term debt Accumulated liabilities Current Liabilities Long-term debt Other non-current liabilities Other liabilities Total Liabilities Stockholders equity Other equity accounts Retaining earnings Total Stockholders' equity Non-controlling interest. Total Liabilities and Equity CASH FLOW Net earnings Depreciation, amortization and depletion Deferred income taxes Participation in subsidiary not consolidated and associated Other Net Changes in assets and liabilities Cash generated by operating activities Capital expenditures Dividends received Cash used in investing activities Debt repaid Dividends received (paid) - Net Cash used in financing activities Effect of exchance rate changes on cash and cash equivalents Net increase (decrease) cash & cash equivalents Cash and cash equivalents - Beginning of year Cash and cash equivalents - End of year

2Q16

Quarters

Accumulated

Q2-16 479,099 264,016 215,083 45% 16,243 200,402 38,513 160,327 33% 6,069 (2,633) (7,123) 164,014 41,146

Q2-15 Variance 504,112 (25,013) 294,001 (29,985) 210,111 4,972 42% 19,135 (2,892) 188,484 11,918 41,459 (2,946) 149,517 10,810 30% 6,885 (816) (1,394) (1,239) 2,181 (9,304) 141,845 22,169 36,220 4,926

2016 914,553 511,163 403,390 44% 31,340 374,550 75,826 296,224 32% 11,598 (4,703) (4,677) 294,006 70,382

2015 Variance 954,810 (40,257) 563,717 (52,554) 391,093 12,297 41% 37,656 (6,316) 359,565 14,985 82,701 (6,875) 270,736 25,488 28% 14,330 (2,732) (2,904) (1,799) (6,817) 2,140 266,127 27,879 71,458 (1,076)

(1,634) 124,502

(2,616) 108,241

982 16,261

(2,440) 226,064

(3,650) 198,319

1,210 27,745

26,839 97,663 -

20,991 87,250 -

5,848 10,413 -

48,747 177,317 -

38,366 159,953 -

10,381 17,364 -

425,361 173,631 34,046 78,737 711,775 1,666,714 232,129 2,610,618

279,167 209,518 42,337 63,929 594,951 1,791,723 286,565 2,673,239

425,361 173,631 34,046 78,737 711,775 1,666,714 232,129 2,610,618

279,167 209,518 42,337 63,929 594,951 1,791,723 286,565 2,673,239

146,194 (35,887) (8,291) 14,808 116,824 (125,009) (54,436) (62,621)

146,194 (35,887) (8,291) 14,808 116,824 (125,009) (54,436) (62,621)

9,077 22,768 (13,691) 188,933 216,071 (27,138) 198,010 238,839 (40,829) 285,790 353,210 (67,420) 106,806 64,093 42,713 7,412 9,378 (1,966) 598,018 665,520 (67,502) 5 5 (723,090) (416,420) (306,670) 2,374,427 2,053,108 321,319 1,651,342 1,636,693 14,649 361,258 371,026 (9,768) 2,610,618 2,673,239 (62,621)

9,077 22,768 (13,691) 188,933 216,071 (27,138) 198,010 238,839 (40,829) 285,790 353,210 (67,420) 106,806 64,093 42,713 7,412 9,378 (1,966) 598,018 665,520 (67,502) 5 5 (723,090) (416,420) (306,670) 2,374,427 2,053,108 321,319 1,651,342 1,636,693 14,649 361,258 371,026 (9,768) 2,610,618 2,673,239 (62,621)

124,502 38,513 11,034

108,241 41,459 (7,230)

16,261 (2,946) 18,264

226,064 75,826 12,596

198,319 82,701 (12,612)

27,745 (6,875) 25,208

(1,634) (5,076) (39,181) 128,158 (86,214) 60 (86,154) (5,019) (26,000) (31,019)

(2,616) (267) 20,369 159,956 (114,299) 1,897 (112,402) (7,515) (26,000) (33,515)

982 (4,809) (59,550) (31,798) 28,085 (1,837) 26,248 2,496 2,496

(2,440) 3,195 (46,980) 268,261 (107,032) 103 (106,929) (10,056) (26,000) (36,056)

(3,650) (678) (52,935) 211,145 (168,474) 1,897 (166,577) (15,076) (26,000) (41,076)

1,210 3,873 5,955 57,116 61,442 (1,794) 59,648 5,020 5,020

(25,988) (15,003) 440,364 425,361

(3,243) 10,796 268,371 279,167

(22,745) (25,799) 171,993 146,194

(34,938) 90,338 335,023 425,361

(9,769) (6,277) 285,444 279,167

(25,169) 96,615 49,579 146,194

www.gmexico.com

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2Q16 RESULTS

GRUPO MÉXICO

MÉXICO PROYECTOS Y DESARROLLOS, S.A. DE C.V. (MPD) CONSOLIDATED FINANCIAL STATEMENTS (US GAAP) (Thousands of US Dollars) STATEMENT OF EARNINGS Net sales Cost of sales Gross profit Gross margin Administrative expenses EBITDA Depreciation, amortization and depletion Operating income Operating margin Interest expense Interest income Other (income) expense, net Earnings before Tax Taxes Net Earnings Net income attributable to the non-controlling interest Net income attributable to MPD

Quarters Q2-16 156,190 70,851 85,339 55% 4,654 81,526 26,988 53,697 34% 20,665 (827) (841) 34,700 (10,384) 45,084 4

Accumulated

Q2-15 137,634 68,791 68,843 50% 4,898 59,242 20,987 42,957 31% 14,263 (732) 4,703 24,724 2,631 22,093

Variance 18,557 2,060 16,497

(2)

6

2

22,985

61,756

54,086

(244) 22,284 6,000 10,740 6,403 (95) (5,544) 9,976 (13,015) 22,991

2016 307,577 148,475 159,102 52% 9,692 149,296 53,241 96,169 31% 40,548 (1,542) 114 57,049 (4,709) 61,758

2015 288,256 139,983 148,273 51% 9,508 132,559 40,740 98,025 34% 27,003 (1,573) 6,207 66,388 12,307 54,081

Variance 19,320 8,492 10,829

(5)

7

184 16,737 12,501 (1,856) 13,544 31 (6,092) (9,340) (17,017) 7,677

45,080

22,095

94,454 85,800 46,185 55,339 134,907 416,684 1,777,500 371,838 2,566,022

84,927 106,670 56,612 37,370 150,935 436,515 1,820,034 392,608 2,649,157

9,526 (20,870) (10,428) 17,969 (16,029) (19,831) (42,535) (20,770) (83,135)

94,454 85,800 46,185 55,339 134,907 416,684 1,777,500 371,838 2,566,022

84,927 106,670 56,612 37,370 150,935 436,515 1,820,034 392,608 2,649,157

9,526 (20,870) (10,428) 17,969 (16,029) (19,831) (42,535) (20,770) (83,135)

94,554 174,662 269,217 1,013,977 129,747 1,412,941 901,552 (66,608) 317,493 1,152,438 643 2,566,022 -

125,193 206,663 331,855 1,082,778 276,509 1,691,143 901,552 (139,402) 195,407 957,556 458 2,649,157 -

(30,638) (32,001) (62,639) (68,801) (146,762) (278,202) 0 72,795 122,087 194,882 185 (83,135) -

94,554 174,662 269,217 1,013,977 129,747 1,412,941 901,552 (66,608) 317,493 1,152,438 643 2,566,022 -

125,193 206,663 331,855 1,082,778 276,509 1,691,143 901,552 (139,402) 195,407 957,556 458 2,649,157 -

(30,638) (32,001) (62,639) (68,801) (146,762) (278,202) 0 72,795 122,087 194,882 185 (83,135) -

CASH FLOW Net earnings Depreciation, amortization and depletion Deferred income taxes Other Net Changes in assets and liabilities Cash generated by operating activities Capital expenditures Restricted cash Other - Net Cash used in investing activities Debt incurred Debt repaid Cash used in financing activities Net increase (decrease) cash & cash equivalents Cash and cash equivalents - Beginning of year Cash and cash equivalents - End of year

45,084 26,988 (11,837) (7,264) 21,663 74,634 (2,467) 17,900 18,023 33,456 5,000 (70,693) (65,693) 42,396 52,057 94,455

22,093 20,988 (647) (461) (8,022) 33,951 (38,373) (36,266) 12,183 (62,457) 35,000 (26,461) 8,539 (19,966) 104,893 84,928

22,991 6,000 (11,190) (6,803) 29,684 40,682 35,906 54,166 5,840 95,912 (30,000) (44,232) (74,232) 62,363 (52,836) 9,526

61,758 53,241 (7,864) (6,848) 26,505 126,792 (6,123) (38,831) 23,631 (21,323) 5,000 (95,011) (90,011) 15,458 78,996 94,455

54,081 40,740 837 202 60,575 156,435 (51,459) (57,139) (22,285) (130,883) 48,501 (37,078) 11,423 36,975 47,952 84,928

7,677 12,501 (8,701) (7,050) (34,070) (29,643) 45,336 18,309 45,915 109,560 (43,501) (57,933) (101,434) (21,517) 31,044 9,526

2Q16

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BALANCE SHEET Cash and cash equivalents Restricted cash Notes and accounts receivable Inventories Prepaid and others current assets Total Current Assets Property, plant and equipment, Net Other long term assets Total Assets Liabilities and Stockholders' Equity Current portion of long-term debt Accumulated liabilities Current Liabilities Long-term debt Other non-current liabilities Total Liabilities Stockholders equity Other equity accounts Retaining earnings Total Stockholders' equity Non-controlling interest. Total Liabilities and Equity

7,670

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