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CORPORATEPRESENTATIONFirst Quarter 2019

Safe Harbor

This presentation contains forward-looking information based on

numerous variables and assumptions that are inherently uncertain. They

involve judgments with respect to, among other things, future economic,

competitive and financial market conditions and future business decisions,

all of which are difficult or impossible to predict accurately. Accordingly,

results are likely to vary from those set forth in this presentation. Copyright

© 2019 ALFA, S.A.B. de C.V. All rights reserved. Reproduction and

distribution is forbidden without the prior written consent of ALFA, S.A.B.

de C.V.

2 1Q19-v2.8

Index

ALFA Overview

ALFA Businesses

Alpek – Petrochemicals

Sigma – Food Products

Nemak – Aluminum Autoparts

Axtel – IT & Telecom

Newpek – Oil & Gas

Appendix

3

Investment Highlights

1. Global company with operations in 28 countries; 70% of revenues outside Mexico

2. Diversified portfolio of businesses with leading industry positions

3. Value-enhancing initiatives and subsidiary-driven investments/divestments

4. Strong corporate governance and experienced management team

5. Dollar-denominated dividend supported by strong cash generation

6. Solid balance sheet with investment-grade rating

4

1979Nemak is founded

2008Sigma invest in

Perú

ALFA´s heritage goes back to 1890

2018Alpek acquires

PQS (Brazil)

1993 1997

ALFA Invest U.S. $3,200 Million in modernization and expansion

2000Nemak invests in Canada

2005Hylsamex is divested

2005Nemak acquiresRautenbach

2007Nemak acquires Teksid and Hydro assets

2001Alpek expands

to the USA

1996Alestra is founded

(Telecom)

2004Sigma expands in cheese

2007Alpek acquires Eastman PET Mexico & Argentina

2010Sigma

acquires Bas-S

2013Sigma

acquires Campofrío

2016Alestra/Axtel

merger

2011Alpek acquires

Eastman Columbia and

Wellman

5

1890Brewey is founded

1974Grupo Monterrey

Splits

1975Firs investment in

petrochem

1980ALFA invest

in food

1982Mexican crisis and

financial restructuring

ALFA participates in diverse industries

Leading Mexican supplier of managed solutions for

Information Technology

#1 in the production of PTA, PET and EPS in the Americas

12 Sigma brands sell more than U.S. $100 Million a year each

1 out every 4 new cars sold in the world contains at least one

Nemak product

555 production wells operated by Newpek in Texas and

Veracruz

Petrochemicals Food Products Aluminum Autoparts IT + Telecom Oil & Gas

6

Breakdown by Business Group

Revenues 2018U.S. $19.1 Billion

EBITDA 2018U.S. $2.9 Billion

37%

33%

25%

4% 1%

35%

24%

25%

15%

1%

7

Ownership

Petrochemicals

Food Products

Aluminum Autoparts

IT + Telecom

Oil & Gas

82%

100%

75%

53%

100%

Public company since 2012

Public company since 2015Ford Motor Co. owns 5.4%

Public company since 2005

8

Strategy aimed at driving long-term shareholder value

CORPORATE STRATEGY

Bottom-up strategy, subsidiary driven

Strategic investments

Enhance operational excellence

Long-term view

Long-standing independent board of directors

9

ALFA has grown to become a global company with leadership in markets

Manuf. Presence(Countries)

SalesOutside Mexico

Employees

2008 16 54% ~50,000

2018 28 70% ~86,000

10

M&A is an important element of our strategy

2010Sigma

Bar-S

2011Alpek

Columbia siteEastman Chemical

2011Alpek

Wellman

2013Sigma

CampofríoFood Group

2016Alestra

Axtel merger

2018Alpek

Petroquímica Suape and Citepe

2007Nemak

Teksid & HydroCasting assets

2005ALFA

DivestedHylsamex

2001Alpek

DAK Americas

11

Our leadership culture is the strongest driver of growth

• The average tenure of our top 125 Executives is of 23 years developing decision-making, consistent operations and accountability

• C - Suite average tenure of 33 years generating cohesion, consistency, trust and alignment

• Strong Corporate Governance with 85% of Independent Board of Directors

12

Experienced Management Team

Rolando ZubiránAxtel PresidentTenure 20 years

Mario PáezSigma PresidentTenure 44 years

Armando TamezNemak PresidentTenure 34 years

José de Jesús ValdezAlpek PresidentTenure 42 years

Paulino RodríguezVP Human CapitalTenure 15 years

Armando GarzaChairman of the BoardTenure 40 years

Álvaro FernándezPresidentTenure 27 years

Eduardo EscalanteCFOTenure 31 years

Carlos JiménezLegal CounselTenure 40 years

13

Financial Highlights

15,870 17,223

16,315 15,576

16,804

19,055 19,107

13 14 15 16 17 18 19E

Revenues

1,915 2,040

2,420 2,322

2,018

2,858

2,429

13 14 15 16 17 18 19E

EBITDA

1,556

1,422

1,632

1,492

1,148

1,570

979

13 14 15 16 17 18 19E

Capex

A. Guidance as of February 14, 2019 | B. Includes U.S. $427 Million from extraordinary items | C. Includes U.S. $200 Million from sale of Cogen plants

A B A, C A

14

Revenues(U.S. $ Million)

EBITDA(U.S. $ Million)

Capex & Acquisitions(U.S. $ Million)


3,473

5,123 4,785

5,844 6,300

6,543

7,194

13 14 15 16 17 18 1Q19

Net Debt

1.8

2.12.0

2.5

3.1

2.3

2.6

13 14 15 16 17 18 1Q19

Net Debt/EBITDA

6.77.2

7.7

6.6

4.6

5.8 5.7

13 14 15 16 17 18 1Q19

Interest Coverage

15

Net Debt(U.S. $ Million)

Net Debt/EBITDA Interest Coverage

U.S. $202 Million cash dividend, 21% higher than 2018

70

97 104 118

154 154 170 169 168

202

10 11 12 13* 14* 15 16 17 18 19

* The 2014 dividend was paid early in 2013. The graph shows the approved amounts for each corresponding year.

21%

Paid Dividends(U.S. $ Million)

16

ALFA Sustainability Model is based on four pillars

INTERNAL WELL-BEING

COMMUNITY

ECONOMY

ENVIRONMENT

146 ALFA facilities run on clean and renewable energy sources such as wind and geothermal

U.S. $67 Million invested in funding health, safety and employee development programs

19,500 students from 122 schools were benefited from ALFA´s support

More than 86,000 employees across 28 countries in America, Europe and Asia

In 2018, ALFA continued to deploy a broad program of actions in every aspect of its Sustainability strategy

17,000 people benefited through support to 168 institutions of social care

Nemak is the main consumer of recycled aluminum in Mexico, 80% of its aluminum usage comes from recycled sources

17

Lower-than-expected 1Q19 EBITDA amid challenging

oil/feedstock price environment

Acquired PET recycling facility in U.S. capacity of 45,000 tons

Year-over-year EBITDA growth driven by Mexico and U.S.

1Q19 Sales and EBITDA reflect this year’s anticipated volume

decrease in most regions

1Q19 EBITDA up 7% y-o-y when adjusted by 2018 sale of Mass Market business and towers

Results reflect lower production mainly due to

acreage sales in USA(Eagle Ford and Wilcox)

First Quarter 2019 Summarized Highlights

1Q19 EBITDA on track with full-year Guidance

Adoption accounting standard (IFRS16 Leases) caused U.S. $388 Million increase in Net Debt

Petrochemicals Food Products Aluminum Autoparts IT + Telecom Oil & Gas

18

First Quarter 2019 Recent Developments

Shareholder’sMeeting

Approved a U.S. $202 Million cash dividend, 21% higher than 2018, to be paid in two installments

Cancellation of 145 Million shares valued at U.S. $165 Million on that date

Approved a maximum amount of $5,800 Million Pesos (~U.S. $300 Million) for share repurchases

Appointment of ALFA’s eleventh Independent Board Member; 85% Independent Directors

19

Leading Petrochemical company

Leading position across product portfolio:

• #1 PTA-PET producer in America

• #2 PET producer Worldwide

• #1 EPS producer in America

• Only PP producer in Mexico

2018

Revenues

U.S. $7.0 Billion

EBITDA

U.S. $1.1 Million

21

Business Segments

Polyester chain

2018

Revenues U.S. $5.2 Billion (74%)

EBITDA U.S. $788 Million (74%)

Products

Purified Terephthalic Acid (PTA)

Polyethylene Terephthalate (PET)

Polyester fibers

Plastics & chemicals

2018

Revenues U.S. $1.7 Billion (26%)

EBITDA U.S. $276 Million (26%)

Products

Polypropylene (PP)

Expandable Polystyrene (EPS)

Caprolactam (CPL)

Fertilizers and other chemicals

22

Products are widely used for food packaging and consumer end-markets

Beverage

Food

Personal care

Sample end users by industry

Volume 2018 By Industry(4,402 Kta)

Construction4%Textiles

7%

ConsumerGoods

22%

Food and Beverages67%

Sales 2018 Geography(U.S. $6,991 Million)

Asia & others1%

Europe3%

Latam18%

Mexico30%

U.S. 45%Canada

3%

Textiles

23

Installed capacity amounts to 7.0 Million tons

More than 5,800

employees

26 Production facilities

Source: Alpek estimate| Kta: Thousand tons per year | (1) Includes industrial and specialty chemicals and recycled PET capacities

Installed Capacity Breakdown (Kta)

SITE PTA PET rPET FIBERS PP EPS CPL OTHER

Mexico

(3,030 Kta)

Monterrey 160

Altamira 1,000 640 240

Salamanca 85

Ocotlán 10

Cosoleacaque 610 185

Lerma 100

USA

(2,358 Kta)

Cedar Creek 170 55

Cooper River 170 150

Columbia 640 725

Pearl River 430

Richmond 45

Canada Selenis 144

Argentina

(225 Kta)

Zárate 190

Pacheco 15

General Lagos 19

BrazilGuaratingueta 46

Ipojuca 640 450 90

Chile

(27 Kta)

Santiago 5

Puerto Montt 2

Concon 20

Total Capacity: 7,036 Kta 2,890 2,464 115 400 640 325 85 117

24

Strategy

Strengthen Core Business

Growth

ProductSustainability


• Ensure profitability throughout industry cycles

• Enhance position in the Americas

• Secure competitive feedstock/power supply

Growth

• Deliver returns on recent investments (U.S. $1 Billion)

• Vertical integration

• Strategic and opportunistic M&A

ProductSustainability

• Expand PET recycling capacity

• Enhance recycled content offering

• Support customer initiatives

25

First Quarter 2019 Highlights


• Volume – up 7% y-o-y, includes acquisitions, down on organic basis due to decline in oil and feedstock prices

• Revenue – up 7% y-o-y reflects higher volume and flat average prices

• EBITDA – both business segments report lower comparable EBITDA

Business Drivers/Impacts

• Lower oil and feedstock prices impact revenue and margins

• Positive contribution from Suapeand Citepe 2018 acquisition

2019 Outlook

• Lower average Brent prices

• Lower polypropylene margins

• Normalization of PET margins

• Proceeds from co-gen sale benefit EBITDA

26


Acquired aPET recycling plant

in the USA

Complements Alpek’s facilities in the USA and Argentina

M&G Mexico

Petitioned for “Concurso Mercantil”, including pre-arranged restructuring plan

Restructuring plan subject to court approval before implementation

Cogen SaleProgresses

Contour Global receives shareholder approval to complete transaction

Altamira power plant start-up process underway

27

Multinational food company dedicated to bringing local favorite foods to communities everywhere

• 640,000 points of sale

• 10% of its sales came from innovation

2018

Revenues

U.S. $6.3 Billion

EBITDA

U.S. $684 Million

29

Highly recognized branded foods in Mexico, U.S., Central & South America and Europe

Region % Sales

Latam8%

U.S.15%

Europe36%

Mexico41%

• Broad geographic footprint: 70 manufacturing facilities and operations in 18 countries

• Offers quality food at a wide range of price points and across diverse categories

Cooked meats 59%

Dairy 18%

Dry Meats 18%

Other Categories 5%

Categories products

Mexico

United States

Dominican Rep.

El Salvador

Guatemala

Ecuador

Italy

Belgium

Germany

Netherlands

Spain

France

Peru

Honduras

Nicaragua

Costa Rica

Portugal

Romania

30

Diversified and strong brand portfolio in each market

PACKAGED MEATS DAIRY OTHER THIRD PARTY

MEXICO

EUROPE

USA

LATAM

31

Broad supply chain network

Reach, service, efficiency and knowledge

• Global processes

• Benchmarks

• Best practice implementation

• Production sharing capabilities

Safety & quality throughout the supply chain

• Sourcing development programs and

certifications

• In-store quality checks

• Customer development programs

• Certified facilities

70

Production

facilities

26 Europe

13 Latam

25 Mexico

6 USA208

Distribution

centers

18 Europe

39 Latam

137 Mexico

14 USA+642,000

Points of sale

65,000 Europe

116,000 Latam

378,000 Mexico

83,000 USA

32

Product & Process Innovation

Consumer-driven innovation

• Extensive consumer research

• Proprietary mathematical models

• Sigma Innovation System

State-of-the-Art Research & Development center

• With +160 specialists

• Leadership in food process technology

R&D Alliances

• Research agreements with educational and governmental

institutions

• Open technology

33

Growth strategy


• Continue consolidating recent acquisitions while implementing best practices

• Reinforce brand equity through innovation and differentiated marketing

• Increase distribution to improve market share

Expand the Core

• Capture greater market share in the foodservice market

• Fully leverage assets through distribution of third-party leading brands

• Achieve fair-share in relevant markets / categories

• M&A in packaged meats and dairy

• Grow exports of heritage products

Invest in the Future

• Explore new categories

• Enter new geographies

• Complement innovation capabilities through open innovation / venture capital

• Continue developing world class talent

34



• Revenue – down 2%, but up 2% on FX neutral basis. Mexico and Latamsales higher in local currency while USA and Europe were lower

• EBITDA – up 2% driven by margin improvement in Mexico, USA and Latam. Up 5% on FX neutral basis


• Key raw materials pricing varied by region

• Consumer confidence decreasing in USA and Europe but increasing in Mexico.

2019 Outlook

• Higher average prices across all regions

• Expected margin recovery in Europe

• Higher volumes across all regions

35


Raw MaterialsRecent rise in pork prices due to African Swine Fever

Working on different fronts to offset potential impact

ExchangeRate Hedges

Continued hedging strategy

• Covers 6 months of Mexico’s operations U.S. Dollar needs

New CFO

Roberto Olivares appointed new CFO

Eugenio Caballero appointed CEO Sigma Mexico, formerly CFO Sigma

36

The leading lightweighting solutions provider for the auto industry

• Global footprint, cost competitiveness, R&D, skilled labor force

• One out of every four new vehicles sold worldwide has at least Nemak component

• Sole supplier in ~90% of sales volume

2018

Revenues

U.S. $4.7 Billion

EBITDA

U.S. $734 Million

38

Focused on innovative lightweighting solutions for the automotive industry

Powertrain• Heads

• Blocks

• Transmissions

EV Components• E-Motor Housings

• Battery Housings

Structural Components• Longitudinal Members

• Shock Towers

• Cross Members

39

Diversified customer base

• More than 50 customers worldwide

• Nemak supplies ~650 out of 1,200 vehicle

platforms worldwide

40

http://www.opel.com/

http://www.opel.com/

http://img3.wikia.nocookie.net/__cb20100630205529/logopedia/images/b/b8/Maserati_logo.png

http://img3.wikia.nocookie.net/__cb20100630205529/logopedia/images/b/b8/Maserati_logo.png

Solid customer relationships; diversified revenue stream

North

America

56%

Europe

35%

Others

9%

2018Volume distributionBy Customer

2018Revenue distributionBy Region

28%

16%

11%6%

8%

4%

3%

3%

21%

Others

41

Global footprint with modern facilities near key customers

• Global footprint serving all major markets

• 38 manufacturing facilities strategically located close to customer sites

• North America (18)

• Europe (14)

• South America (3)

• Asia (3)

Canada

United States

Mexico

Brazil

Argentina

Spain

Germany

Hungary

Russia

Slovakia

Poland

Austria

Czech Republic

India

China

Turkey

42

Aluminum components expected to grow due to stricter environmental standards

North America and Europe Light Vehicle Aluminum Content(Pounds per vehicle)

2012

324

2015e

350

301

2009

24

2018e

426

2021e

475

2025e

380

Structural

Components

Others

Heat Transfers

Wheels & Brakes

Transmissions

Engine Blocks

Cylinder Heads

109

Source: Ducker, Nemak 43

Combustion Engine Hybrid Pure Electric

US $450 – 500 US $480 – 580 US $550 – 700

Heads, Blocks & Trans Heads & Blocks E-Motor Housings

Structural Components Structural Components Structural Components

Battery Housings Battery Housings

Hybrid Trans Other EV Components

Driving Nemak content per vehicle

44

Increased Value Added to Sales

Strategy

Maximize powertrain business

• Capture growth – aluminum penetration in blocks

• Focus on high complexity products

• Continue to increase efficiencies

• Increase machining – additional value added, margin expansion

Invest in development of structural components and parts for EVs

• High-growth segment

• Lightweighting key for EV performance

• Complex products

• Attractive profitability

45



• Volume – 12.1 Million equivalent units, down 8% as a result of softening industry conditions in most regions

• Revenue – down 11% due to a decrease in volume as well as depreciation of Euro vs U.S. Dollar

• EBITDA – down 11% due to lower volume and Euro depreciation vs U.S. Dollar


• Weaker sales in most regions

2019 Outlook

• Lower volume due to weaker industry trends in North America

• Adverse impact of phasing in new emission testing and lower diesel sales in Europe

46


New Contracts

New contracts awarded to supply cylinder heads and engine blocks in all regions

• Worth approximately U.S. $200 Million in annual revenues

• Half of the contracts represent incremental business

Electric VehiclesBroke ground on first assembly line for EV battery applications in North America

47

IT and Telecom services for the enterprise and government segments

Main Services

• Data centers

• Information security

• Managed networks

• Consultancy services

• Systems integration

• Cloud services

• Internet

2018

Revenues

U.S. $809 Million

EBITDA

U.S. $422 Million

49

Diversified revenue stream; focused on the enterprise market

16%Government

66%Enterprise

9%Wireless

18%Mass Market

66%Telecom

17%IT

15%*FTTH

18%Mass Market

*FTTH: Fiber to the home50

By Market Segment

Sales Breakdown

By Type of Service

Strategic evolution

• Start up local Mass Market «Fixed Wireless»

• Avantel acquisition (´06)

• Broad band Mass Market

• Vertical markets

• Cloud services

• App management

• Data center

• Enterprise strategy

• Value added services – Data IP

• Start up LD services

ALESTRA CONVERGENCE

• Unified communications

• Managed networks

• Security

• Large Scale Solutions

• Systems integration

• Data center

• IPTV (´13)

• Cloud services & managed IT

1997

1999

2000

2008

2011

2008

2011

• Value added services Mass Market– Wimax

• Enterprise integration Telco / IT

• FTH

2015 2015

TELECOMM MARKET OPENED

IP PROTOCOL, INTERNET BUBBLE

VOICE AND DATA NET CONVERGENCE LAN/WAN

TELECOM / IT CONVERGENCE

DATA CENTER CONVERGENCE

MEGER 2016

51

Strategy: Strong Positioning in IT & Telecom

MISSIONEnable organizations to become more productive through digitalization

Provide world-class IT & Telecom managed solutions to enterprise and government customers

Multi-cloud solutions partnering with AWS & Microsoft Azure

Multi-platform Mobility Solution to complementICT services

Strategic Alliance with Global Data Center operator

Maximize value from non-strategic assets: Mass Market segment, alternate network

52

Functional Separation into two business units

53

Benefits:

Accelerate growth – focusing commercial and investment efforts in each business unit

Increase profitability – maximizing infrastructure utilization

Better efficiencies - Transparency

Services (Alestra) Infrastructure

Data Center Telecom ITNetwork

Enterprise & Government

Wholesale/Operators(including Alestra Services)

53



• Revenue – down 14% y-o-y due to partial divestment of Mass Market segment. On comparable basis up 1% or up 3% in Mexican Pesos

• EBITDA – was 21% lower than 1Q18, which included the U.S. $15 Million contribution from the Mass Market and U.S. $7 Million one-time gain from the tower sale


• Sale of Mass Market business

• New Administration – transition slower which impacts Government segment business

• FX impact on U.S. Dollar

2019 Outlook

• Positive outlook for Enterprise segment based on strong project pipeline from customers

54


Mass MarketDivestment

Seeking to divest remainder of Mass Market business

Data CenterMonetization

Plan to monetize a majority stake of its Data Centers

Plan to splitbusiness in two

units:Infrastructure

and Service

Split expected to unlock Shareholder value maximizing infrastructure utilization

• Infrastructure Business: Own majority of Axtel’s assets, including Data Centers and fiber networks. Provide connectivity and internet to wholesale, operators and Axtel´s Service Business

• Service Business: Managed telecom and IT solutions to Enterprise and Government customers

55

Exploration & Production (E&P) operations in the U.S. and Mexico

Involvement in the E&P industry began in 2006

• JV with Pioneer (8.6%)

• Development of Eagle Ford Shale

Operating mature fields in Mexico since 2013

• Service contracts with Pemex (CIEPs)

57

14 7 8

30

66

91

116

40

9 3

31

08 09 10 11 12 13 14 15 16 17 18

Current U.S. Operations

Talent

• Team of experience people in the

USA

• World-class partners (e.g. Pioneer

Natural Resources)

Technology

• Fracking for horizontal drilling in

Eagle Ford – 555 wells in operation

• Mature fields optimization

• World-class sub-surface analysis

capabilities

Successful transition to operations

• Experienced transition to operations

• Mineral rights on leases over 220,000

acres

Newpek fields

KS

TX

OK

CO

Eagle Ford

EBITDA(U.S. $ Million)

0.9 1.1 1.0

2.7

4.7

6.4

8.2 8.37.2

4.9 4.4

08 09 10 11 12 13 14 15 16 17 18

Net production(MBOED)

58

Activities in Mexico

• Service contracts in San Andrés and Tierra Blanca fields

• Producing over 3.4 mboed on 131 wells

• Optimization of existing wells

• Development of new wells in conventional formation

• In a JV with Verdad Exploration, won contracts to operate two wet gas fields in Tamaulipas, Mexico

• Area of 363 Km2

• Minimum required investment of U.S. $4 Million

59

Strategy

• Divest assets outside of Mexico

• Continue to assess opportunities in Mexico

• Find unique opportunities in current market

• Migrations and farm-ins

• Leverage partnerships

• Evaluate infrastructure investments

60



• Volume - down 39% due to divestments in Eagle Ford Shale and Wilcox field

• Revenue – down 31% due to lower volume

• EBITDA loss due to lower production


• Divestment in the Eagle Ford Shale and Wilcox Field

• Natural decline in well productivity

2019 Outlook

• Divesting USA assets will result in lower production and sales

61


Eagle Ford Shale Divestiture

Seeking to divest the remaining Eagle Ford acreage

62

Appendix

63

ALFA Guidance 2019A

(U.S. $ Millions) Revenues EBITDA CAPEX

2018 2019e 2018 2019e 2018B 2019e

ALFA 19,055 19,107 2,858C 2,429D 1,570 979

Alpek 6,991 7,248 1,063 918 826 310

Sigma 6,336 6,679 684 735 180 194

Nemak 4,704 4,377 734 620 403 320

Axtel 809 641 422 217 85 122

Newpek 108 54 31 (3) 26 29

Assumptions:

• Mexico GDP growth: 1.7%

• USA GDP growth: 2.3%

• Eurozone GDP Growth: 1.8%

• Avg. exchange rate Mx Peso to U.S: $20.60

• Avg. exchange rate Euro to U.S.: $1.18

• Avg. oil price (Brent): U.S. $68/barrel

A. Guidance as of February 14, 2019 | B. CAPEX for 2018 includes acquisitions | C. Includes U.S. $427 Million from extraordinary items | D. Includes U.S. $200 Million from sale of Cogen plants 64

Breakdown by Region

Mexico

32%

USA & Canada

31%

Europe

21%

South & Central America

10%

Asia & Others

6%

Revenues 2018U.S. $19.1 Billion

65

Debt Profile and maturities

Rate (%)Currency (%)

Var.

18%

Fix

82%

U.S.

72%

EUR

16%

MXN

10%

Other

2%

Debt maturities(U.S. $ Million)

*Includes currency hedging

1,3241,221

385494

878

375

2,316

609

1,038

61

561 509

CASH 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029+

66

Debt maturities – 1Q19

Cash 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029+

Alfa Holding Alpek Nemak Sigma Axtel Newpek Other

U.S. $ Million Cash 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029+

ALFA Holding 166 50 50 0 0 0 499 0 0 0 0 498

Alpek 230 706 200 402 729 313 13 12 12 12 12 2

Nemak 253 163 70 36 35 35 618 579 3 2 2 8

Sigma 542 280 34 18 20 13 673 0 998 0 500 0

Axtel 50 22 22 30 95 13 513 18 24 47 47 0

Newpek 11 0 0 0 0 0 0 0 0 0 0 0

Other 0 0 8 8 0 0 0 0 0 0 0 1

1,324 1,221 385 494 878 375 2,316 609 1,038 61 561 509

Total Debt:U.S. $8,447 MillionAvg. Life of Debt 5.7 years

67

CompanyAmount(M USD)

RatePrice / YTM

(31/Mar/2019)Maturity

Current Rating

S&P Fitch Moody’s

Alfa 500 5.250% $104.5 / 4.2% 25 March 2024 BBB- ; SO BBB- ; SO Baa3 ; SO

Alfa 500 6.875% $108.7 / 6.2% 25 March 2044 BBB- ; SO BBB- ; SO Baa3 ; SO

Alpek 650 4.500% $101.4 / 4.1% 20 November 2022 BBB- ; SO BBB- ; SO Baa3 ; SO

Alpek 300 5.375% $104.6 / 4.2% 08 Agosto 2023 BBB- ; SO BBB- ; SO Baa3 ; SO

Sigma 250 6.875% $102.8 / 2.8% 16 December 2019 BBB ; SO BBB ; SO Baa3 ; SO

Sigma €600 2.625% €104.7 / 1.5% 07 February 2024 BBB ; SO BBB ; SO Baa3 ; SO

Sigma 1,000 4.125% $97.7 / 4.5% 2 Mayo 2026 BBB ; SO BBB ; SO Baa3 ; SO

Sigma 500 4.875% $99.8 / 4.9% 27 March 2028 BBB ; SO BBB ; SO Baa3 ; SO

Nemak 500 4.750% $97.8 / 5.2% 23 January 2025 BB+ ; SO BBB- ; SO Ba1 ; SO

Nemak €500 3.25% €101.5 / 2.8% 15 March2024 BB+ ; SO BBB- ; SO Ba1 ; SO

Axtel 500 6.375% $100.1 / 6.3% 14 November 2024 BB ; SO BB- ; SO Ba3 ; SO

ALFA & Subsidiaries Outstanding Bonds

68

USD52%

EUR41%

Other 7%

USD99%

MXN 1%

USD100%

USD0%

Debt by Currency

USD52%

EUR28%

MXN20%

USD63%

MXN37%

U.S. $1,097 Million U.S. $2,412 Million U.S. $2,537 Million

U.S. $1,551 Million U.S. $831 Million U.S. $0 Million

69

Debt by Fixed and Variable Interest Rate

Fix100%

Fix89%

Var11%

Fix81%

Var19%

Fix59%

Var41%Fix

91%

Var 9%

Var0%

U.S. $1,097 Million U.S. $2,412 Million U.S. $2,537 Million

U.S. $1,551 Million U.S. $831 Million U.S. $0 Million

70

Brent Crude Oil

71

120

100

80

60

40

202014 2015 2016 2017 2018 2019

Guidance 2019($68/bbl)

U.S. $/Bbl

Brent Crude Oil

99 $/bbl

53 $/bbl

44 $/bbl

54 $/bbl 71 $/bbl

PET Margin (Asia)

PTA

PET

201

74 71 69 63 59 71 64 63 60 72 80 81104

133 135 118 110

2011 2Q2015 1Q3Q2012 1Q2014 4Q 1Q

263

212

2Q

210

3Q 4Q 2Q2013 4Q 1Q

394

258270

230210

260240

342

276 284

478

377

333 323

3Q

China250

2016 2017 2018 2019

Margin: Asia PET to Px/MEG (U.S. $/Ton)

72

0

0.1

0.2

0.3

0.4

0.5

0.6

0.7

0.8

0.9

2018 2019

Jan. Feb. Mar. Apr. May. Jun. Jul. Aug. Sept. Oct. Nov. Dec.

Pork Ham Price in USA

73

U.S. $/UnitPork Ham Price in USA

Contact

Hernán F. LozanoCorporate Communications

T. +52 (81) [email protected]

mailto:[email protected]

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