Financial liabilities (excluding accounts payable to suppliers) 71 Ps 1,280 Other current liabilities ,620. Euros Pesos

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1 2013 a) Nemak debt refinancing In December 2013, Nemak concluded the refinancing of its bank debt, which was authorized by the Board of Directors. This process included the bank debt of the main current contracts of Tenedora Nemak with Banks: The Senior Unsecured Syndicated Loan Agreement, held in August 2011 and the Senior Unsecured Loan Agreement in June This refinancing process involved expenses incurred by the company of Ps51 that were recorded in the statement of financial position and will be amortized during the life of the loan. b) Acquisition of Campofrio On November 13, 2013, Sigma signed purchase agreements with certain important stockholders of Campofrio Food Group, S. A. (Campofrio), a public company in Spain, through which it acquired 44.5% of that company s capital stock, all in the form of ordinary shares. This acquisition, in accordance with the applicable regulations in Spain, obligated Sigma to request authorization from the Spanish National Stock Market Commission ( Commission or CNMV Spanish acronym) to make a public offer to acquire the remaining shares of Campofrio, since its shares are traded on the stock markets of both Madrid and Barcelona. This request was submitted on November 14, 2013, at an offering price of 6.80 euros per share. Subsequently, on December 23, 2013, before the Commission had authorized the offer to the remaining shareholders, Sigma reached an agreement with another shareholder owning 36.99% of Campofrio s capital stock, under which that shareholder joined Sigma in making the proposed offer. As a result of this agreement the request filed with the Commission, as well as the related notifications and approval requests filed with the competition authorities, have had to be amended. In addition, among other effects, the agreement contemplates that the other shareholder will remain as a shareholder of Campofrio with the same percentage shareholding as previously, and also contemplates an increase in the offer share price to 6.90 euros per share. At December 31, 2013, the public offer had not yet been authorized by the Commission, nor had approval of the acquisition been given by the competition authorities. Consequently, at December 31, 2013 Sigma had not yet finalized its offer for the remaining outstanding shares. As mentioned in Note 34, in addition to continuing with the process of preparing the purchase offer, which in accordance with Spanish law must be launched when authorization is received from the Commission, Sigma has continued to acquire Campofrio shares after December 31, 2013 outside the scope of the proposed offer. At December 31, 2013 Sigma had increased its shareholding in Campofrio to 45% by making additional purchases outside the scope of the offer. Campofrio is based in Madrid, Spain. Its principal activity is the manufacture and distribution of all kinds of sausages, processed meats and related products based on pork, beef and other food products. Campofrio operates in Spain and other countries such as France, Belgium, the Netherlands, Portugal, Germany, Italy, the United Kingdom, the United States of America and Romania. Campofrio is strategic for ALFA and its acquisition would involve incorporating new operations and best industry practices into the group, as well as accessing other European markets. Campofrio prepares its consolidated financial information in conformity with International Financial Reporting Standards (IFRS), which have been adopted by the European Union, as well as with the related Spanish regulations applicable to public companies. Campofrio is currently audited by another auditing firm in Spain. The latest audited financial information available to the public is the consolidated financial statements for the year Management has carried out a study to determine whether Sigma has control of Campofrio in accordance with IFRS 10, Consolidated Financial Statements. The study concluded that at the acquisition date and at December 31, 2013 Sigma had significant influence over Campofrio, but not control, and that the investment should be treated as an investment in an associated company which in management s opinion is material to the group and should therefore be accounted for by the equity method. Campofrio reports its financial information to the public annually and quarterly. At the acquisition date and at December 31, 2013 the most recent interim financial information available publicly to investors is as of September 30, At December 31, 2013 the Company presents its investment in Campofrio at cost, including the consideration paid and the costs directly associated with the purchase of the investment. Due to the limited availability of financial information mentioned previously, it has not been possible to record the effects of the equity method since the acquisition date through to December 31, 2013, nor to determine the fair values of the net assets acquired and any resulting goodwill. The book value of the investment in Campofrio at December 31, 2013 was Ps5,632, the fair value of the shares in Campofrio, owned by ALFA was Ps5,715 (6.90 euros per share). The following is a summary of the balance sheet of Campofrio included in its interim financial information at September 30, 2013 (unaudited): Euros Pesos Cash and cash equivalents 139 Ps 2,507 Other current assets (excluding cash) ,300 Current assets ,807 Non-current assets 1,511 27,257 Total assets 2,221 Ps 40,064 Financial liabilities (excluding accounts payable to suppliers) 71 Ps 1,280 Other current liabilities ,620

2 Total current liabilities ,900 Financial liabilities 542 9,777 Other non-current liabilities 266 4,798 Total liabilities 1,634 29,475 Stockholders equity ,589 Total liabilities and stockholders equity 2,221 Ps 40,064 At December 31, 2013, no information on revenues and expenses has been included, due to the limitation on the financial information. There are no contingent liabilities related to this investment of Campofrio. c) Issuance of debt of Nemak 144A During February 2013, Nemak completed an issuance of debt obligations ( Senior Notes ) in international markets for a nominal amount of US$500 (Ps6,538) maturing in Interests of Senior Notes will be payable semi-annually at a 5.5% annual rate (effective interest rate of 5.68%) as from September Nemak capitalized debt costs of Ps118. The proceeds of the issuance were used partially to settle the Syndicated bank loan. This payment resulted in an advance amortization of issuance expenses amounting Ps100. d) Licenses License IntegRex technology license and signature of a supply agreement with M&G During April 2013, Alpek, S. A. B. de C. V. (Alpek) through its subsidiary Grupo Petrotemex, S. A. de C. V. held a licensing agreement for IntegRex PTA technology and another PTA-PET supply agreement with Gruppo M&G ( M&G ). These agreements will allow M&G to use the IntegRex PTA technology in the PTA-PET integrated plant to be constructed in Corpus Christi, Texas in the United States (the Plant). On the other hand, Alpek will pay US$350 to M&G during the construction of the Plant and will obtain supply rights of the Plant to 400 thousand tons of PET (manufactured with 336 thousand tons of PTA) a year. In accordance with the supply agreement, Alpek would supply raw materials for the manufacturing of its PTA-PET volume. It is estimated that the M&G plant in Corpus Christi will start operations in License with Basell The subsidiary Indelpro held in 2004, a contract with Basell Poliolefine Italia S.r.l. (a company of the Basell Group) in relation to engineering licenses, use of patents and technical information for the production of polypropylene, to start the construction of a second production line of polypropylene, therefore Indelpro on that date, made an initial required payment of US$9.5 to use such licenses, patents and technical information for building the production line of the products under these patents (called the second production line) which at June 30, 2013, the Company has estimated that it has an estimated remaining useful life of 21 years. This contract, which is valid for an indefinite period, provides annual royalty payments from July 2013 which would be determined based on 1.22% of the value of net sales. Until July 1, 2013 it was required to pay the royalties referred to in the preceding paragraph, based on 1.22% of net sales. The royalty payments would last until Indelpro completed a total of US$11 as compensation, this amount was calculated as the net present value at the date the contract was signed (2004 ), using an annual discount rate of 8%, according to what was established in the contract. The contract also includes the option for Indelpro to pay in advance the maximum amount of royalties indicated above. In relation to the above, April 26, 2013, Indelpro decided to prepay the maximum amount of royalties and determined that the total was US$21 (Ps258), equivalent to the value of US$11 updated by the rate previously mentioned, from the date of conclusion of the contract until the date of payment, as established in the contract, the amount paid to Basell Poliolefine Italy, S. r. l. e) Acquisition of Corporación Monteverde, C. R. Sociedad Anónima (Monteverde) On April 2, 2013, Sigma acquired all the representative shares of the capital stock of Monteverde, a company engaged in the preparation of cheese, yoghurt and meat processing in Costa Rica. The total consideration paid amounts to Ps112 (US$9). This amount was paid in cash. The business acquisition is included in the segment of Sigma, see Note 32. At December 31, 2013, the Company is in the process of concluding the purchase price allocation of the fair values of acquired assets, since the necessary information is not available to determine definitive values. Such analysis will be concluded within a maximum period of twelve months since the acquisition date. The assignment is as follows: Current assets (1) Ps 111 Property, machinery and equipment 120 Current liabilities (2) (213) Goodwill 94 Consideration paid Ps 112 (1) Current assets consist of cash and cash equivalents of Ps4, accounts receivable of Ps32 and inventories of Ps65, recoverable taxes of Ps4, advance payments of Ps2 and other current assets of Ps4. (2) Current liabilities consist of suppliers and accounts payable of Ps76, taxes payable of Ps2 and debt of Ps135. The costs related to the acquisition amounts to Ps1 and were recorded in the statement of income under the item of other

3 expenses. Revenues contributed by the assets of Monteverde included in the consolidated statement of income since the acquisition date up to December 31, 2013 amounted to Ps210 and a net loss of Ps54. If the acquisition had occurred on January 1, 2013, the revenues would have increased by Ps105 and the net profit would have decreased by approximately Ps27. f) Acquisition of Comercial Norteamericana, S. de R.L. de C.V. (ComNor) On May 31, 2013, Sigma acquired the total representative shares of the capital stock of ComNor, company dedicated to process and commercialize several types of meat. The company processes and commercializes beef, poultry and pork meat. This acquisition will allow Sigma to extend the product portfolio and to reinforce its market position in the Food service segment. ComNor is based in Monterrey, where it operates a plant certified by the United States Department of Agriculture ( USDA English acronym). It also has another plant in Hermosillo, as well as eight distribution centers in Mexico City, Cancún, Hermosillo, Monterrey, Guadalajara, Los Cabos, Puerto Vallarta and León. The total consideration paid amounts to Ps1,557 (US$120). This amount was paid in cash. The business acquisition is included in the segment of Sigma, see Note 32. At December 31, 2013, the Company is in the process of concluding the purchase price allocation of the fair values of acquired assets, since the necessary information is not available to determine definitive values. Such analysis will be concluded within a maximum period of twelve months since the acquisition date. The assignment is as follows: Current assets (1) Ps 590 Property, plant and equipment 267 Intangible assets (brands) 109 Current liabilities (2) (88) Employees benefits (27) Goodwill 705 Consideration paid Ps 1,556 (1) Current assets consist of cash and cash equivalents of Ps10, accounts receivable of Ps172 and inventories of Ps400, recoverable taxes of Ps6, and advance payments and other current assets of Ps2. (2) Current liabilities consist of suppliers and accounts payable of Ps67, taxes payable of Ps1 and debt of Ps20. The costs related to the acquisition amounts to Ps4 and were recorded in the statement of income under the item of other expenses. Revenues contributed by the assets of ComNor included in the consolidated statement of income since the acquisition date up to December 31, 2013 amounted to Ps1,037 and a net profit of Ps68. If the acquisition had occurred on January 1, 2013, the revenues would have increased by Ps741 and the net profit would have increased by approximately Ps39. g) Acquisition of G Tel Comunicaciones SAPI ( G Tel ) On August 19, 2013, Alestra acquired 100% of the shares of G Tel, a company that provides integrated voice, data and video solution services through an extensive service portfolio to medium and big companies. G Tel has concessions issued by the Ministry of Communications and Transportation through the Federal Telecommunication Commission, to operate a public Telecommunications network and, consequently, offer services using point to multipoint technology in the 10,5 GHz frequency in the Northeast and Southeast of Mexico, using their own network. The total consideration paid amounts to Ps49, this amount was paid in cash. The business acquisition is included in the segment of Alestra, see Note 32. At December 31, 2013, the Company is in the process of concluding the purchase price allocation of the fair values of acquired assets, since the necessary information is not available to determine definitive values. Such analysis will be concluded within a maximum period of twelve months since the acquisition date. The assignment at the moment of acquisition is as follows: Current assets Ps 25 Property, plant and equipment 28 Other assets 48 Financial liabilities (341) Other current liabilities (7) Goodwill 296 Consideration paid Ps 49 The costs related to the acquisition amounts to Ps2 and were recorded in the statement of income under the item of other expenses.

4 Revenues contributed by the assets of GTel included in the consolidated statement of income since the acquisition date up to December 31, 2013 amounted to Ps105 and a net profit of Ps23. If the acquisition had occurred on January 1, 2013, the revenues would have increased by Ps284 and the net profit would have increased by approximately Ps7. h) Closing of Cape Fear plants in North Carolina In June 2013, Alpek announced the planned closure of all its operations at its Cape Fear plant, in Wilmington, North Carolina. The purpose of this closing was to improve cost competitively and distribute production to the most efficient plants in its productive network. The closing of operations took place in September The Company communicated with authorities in North Carolina and committed to the dismantling and demolition of assets, as well as to the environmental remediation for damage caused before the plan operations began, for which the Company estimated costs of Ps487 and Ps372, respectively, (US$67) that were initially recognized as part of the assets of the plant of which Ps78 were incurred in 2013 and the remaining will be incurred during the following three years. Additionally, other direct costs attributable to the closing, mainly for indemnity concepts for dismissal and cancellation of contracts, the Company estimated costs of Ps198 (US$16) incurring Ps117 in As a result of this, the company recorded a provision for restructuring costs of Ps 1,057 (US$83), see Note 19. The Company also performed impairment tests of assets associated to the plant and recorded a charge for impairment related to these assets for Ps 2,224 (US$173). The total impact on the net income of the Company for this restructuring event amounted to Ps1,501 (US$117), composed of Ps2,421 (US$189) for restructuring costs and impairment of assets, which were recorded as non-recurring items within the operating income less Ps920 (US$72) of deferred tax. i) Issuance of debt of Alpek 144A During August 2013, Alpek completed an issuance of debt obligations ( Senior Notes ) in international markets for a nominal amount of US$300 (Ps3,923) maturing in The interest of the Senior Notes will be payable semi-annually at a 5.375% annual rate (effective interest rate of 5.479%) as from February 20, Alpek capitalized debt issuance costs of Ps31. The proceeds from the issuance were used to pay debt in advance and for general corporate purposes. This payment led to an advance amortization of issuance expenses amounting Ps4. j) Co-investment agreement On September 26, 2013, Alpek, through its subsidiary Grupo Petrotemex, S.A. de C.V. ( GPT ), signed a co-investment agreement with United Petrochemical Company ( UPC ), a subsidiary of JSFC System ( System ), for the construction of an integrated plant of purified terephthalic acid ( PTA ) - polytherephthalate ( PET ) in Ufa, Baskortostan, Russia. Under the terms of the agreement, two new entities will be created: RusPET Holding B.V. ( JVC ) and RusPET Limited Liability Company ( RusCo ) and reserved matters of operations of the entities requiring approval by both shareholders. On December 6, 2013 the incorporation by-laws of JVC were signed. The JVC issued initial capital of 8 of which UPC has 51% (represented by Class A ordinary shares) bought with a contribution of 4.1 and GPT has 49% (represented by Class B ordinary shares) bought with a contribution of 3.9. In an analysis performed by management, it was assessed whether Alpek has control over JVC in accordance with IFRS 10 Consolidated Financial Statements. The conclusion of such analysis on control indicates that at the date of acquisition and at December 31, 2013, Alpek has joint control and the investment should be treated as an investment in a joint venture, which in the opinion of management it is not material for the group; therefore, it is accounted for using the equity method. At December 31, 2013, the Company presents its investment in JVC recorded at cost including the paid consideration. Since JVC operations have not started, the equity method has not been recorded since the acquisition date until December 31, k) Construction of plant in Russia by Nemak Nemak planned the construction of an aluminum auto parts plant for engines in Russia. The investment for its construction will be of approximately US$80 and it will supply aluminum heads and monoblocks for a new high technology engine to the Volkswagen group in Russia. The initial capacity of the plant will be of 600,000 equivalent units a year and will start production in At the date of issuance of these financial statements the company is in the process of signing the corresponding 2012 l) Issuance of debt of Alpek 144A During November 2012, Alpek, S. A. B. de C. V., (Alpek) completed an issuance of debt obligations ( Senior Notes ) for a nominal amount of US$650 (Ps8,477) maturing in The interest of the Senior Notes will be payable semi-annually at a 4.5% annual rate as from May 20, m) Acquisition of J.L. French During the second quarter of 2012, Nemak Exterior, S. L., a subsidiary of Tenedora Nemak, S. A. de C. V. (TNemak) acquired 100% of the capital stock of J.L. French Automotive Castings, Inc.( J.L. French ), company producing high-precision aluminum foundry pieces for the manufacturing of automotive components, with an emphasis on transmission parts. This transition has several significant advantages for TNemak, featuring the expansion to other high-added value aluminum components, as structural and suspension parts. The company operates 3 manufacturing plants in the USA, Spain and China. The business acquisition is included in the segment of Nemak, see Note 32. The allocation of the acquisition price reported at December 31, 2012, was determined in accordance with IFRS and it was restructured during 2013 to show the restructured information obtained in accordance with events and circumstances at the acquisition date. The final allocation of the acquisition price is shown in US dollars since it is the functional and recording currency of the acquired subsidiary, the exchange rate at the transaction date was of Ps13.99 pesos per US dollar, additionally,

5 Note 3.c shows the principal exchange rates used and in the translation processes. The following shows the consideration paid and the final fair values of acquired assets and assumed liabilities: Adjustments to Previously provisional reported fair value Restructured Current assets (1) US$ 64 US$ - US$ 64 Property, plant and equipment Intangible assets 1-1 Other assets Current liabilities (2) (6) - (6) Labor obligations (5) - (5) Net acquired assets Paid consideration Goodwill 25 (25) - Bargain purchase gain (3) - (28) (28) (1) Current assets consist of cash and net working capital. (2) Current liabilities consist of suppliers of US$1 and other accounts payable for US$5. (3) This gain was presented in the consolidated statement of income as a non-recurring item. The fair value of net acquired assets has been adjusted retrospectively. The consolidated financial statements of the Company at December 31, 2012 and for the year then ended, as well as the related notes, have been restructured to show the effects of these adjustments, considering the facts and circumstances at the date of acquisition. The aforementioned is due to the conclusion of the valuation from the recovery of deferred tax assets associated to operating losses and to the identification of future tax gains against which the deductible temporary differences may be used. This asset is presented as part of other assets. The value of accounts receivable acquired approximates its fair value due to its short term maturity. It is estimated that acquired accounts receivable are recovered in the short term. ALFA is not responsible for environmental liabilities except for those that may have their origin in or after the acquisition date. The costs related to the acquisition amounts to Ps22 (US$1.7) and were recorded in the statement of income under the item of other expenses. Revenues contributed for the J.L. French business in the consolidated statement of income since the acquisition date and up to December 31, 2012 amounted to Ps273 and a net profit of Ps4. n) Initial Public offering (IPO) of capital of Alpek shares i. During the months of April and May 2012, Alpek, S. A. de C. V. carried out an initial public offer (IPO) of shares in Mexico and a private offer of shares in international markets (together Global Offering ) as follows: On April 26, 2012, Alpek, S. A. de C. V. issued 330,259,322 shares at a placement price of pesos. The offer included an overallotment option of up to 49,038,898 shares. The amount initial offering was of Ps9,082. On May 8, 2012, the underwriters, both in Mexico, and abroad, exercised the agreed overallotment options. The amount of overallotments was Ps1,349, corresponding to 49,038,898 shares at a placement price of pesos each. As a result, the total funds ALFA obtained from the Global Offering amounted to Ps10,155, net of issuance costs of Ps276. Subsequent to the Global Offering, the capital subscribed and paid of Alpek, S. A. B. de C. V. ( Alpek ), is represented by a total of 2,118,163,635 Class I, Series A shares. ii. Likewise, as part of the Global Offering, ALFA acquired additional shares of capital stock of Alpek, at 2013 and 2012 year ends, the balance amounts to Ps448 and Ps1,602, respectively. iii. As a result of the foregoing, ALFA s interest in the capital stock of Alpek was diluted from 100% to 85.48% the 2012 year end and 82% the 2013 year end and the monetary effects are shown in the item changes in the non-controlling interest in the statements of cash flows and of changes in stockholders equity. o) Exploration and exploitation of hydrocarbons (PEMEX) During June 2012, ALFA through a consortium between its subsidiary Alfasid del Norte, S. A. de C. V. (Alfasid), and another Mexican company called Monclova Pirineos Gas, S. A. de C. V. (MPG), won two tenders made by Petróleos Mexicanos, S.A. (PEMEX) through Pemex-Exploración y Producción (PEP) for the exploration and production of hydrocarbons in two mature oil fields located in San Andrés and Tierra Blanca, Veracruz, México. Alfasid in association with MPG has created a couple of legal entities Petrolíferos Tierra Blanca, S. A. de C. V. (Petrolíferos) and Oleorey, S. A. de C. V. (Oleorey) with the objective of exploiting, developing and producing Hydrocarbons, the aforementioned through a Service Contracts for the Exploitation, Development and Production of Hydrocarbons entered into with PEP during August 2012 with a duration of 30 years. These contracts establish an Initial Minimum Program which have a value of US$24.1 and US$23.9 to be developed during the first two years from the signing of each contract. At December 31, 2013; Petrolíferos y Oleorey had issued bonds to guarantee the amount of the initial minimum program in each contract. In case of non-compliance PEP has the right to execute the guarantees previously mentioned.

6 p) Incorporation of a new entity. In 2012, Alpek signed an agreement to invest approximately US$130 during the next two years, in a steam and electrical energy cogerenation project through its subsidiary Petrotemex. This cogeneration plant will generate about 95 megawatts of electricity and all the steam necessary to meet the requirements of the PTA and PET plants located in Cosoleacaque, Veracruz, Mexico. The cogeneration plant will also supply energy to other ALFA entities outside Cosoleacaque. To implement this project, on January 31, 2012, Petrotemex and its subsidiary Dak Resinas Américas México, S. A. de C. V. (both subsidiaries of Alpek), formed a new company called Cogeneración de Energía Limpia de Cosoleacaque, S. A. de C. V. ( Cogeneradora ). The project will increase the competitiveness of the site, assuring supplies of cheap energy with low emissions.