Results as of the 3 rd Quarter October 28, 2011

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1 Results as of the 3 rd Quarter 2011 October 28, 2011

2 1 Forward-Looking Statement and Cautionary Note(1/2) Variations If no further specification is included, changes are made against the same period of the last year. Rounding Numbers may not total due to rounding. Financial information Excluding (i) budgetary,(ii) volumetric, (iii) revenue from sales and services including IEPS, (iv) domestic sales including IEPS, (v) petroleum products sales including IEPS, and (vi) operating income including IEPS information, the financial information included in this report is based on unaudited consolidated financial statements prepared in accordance with Normas de Informacion Financiera (Mexican Financial Reporting Standards, FRS) -formerly Mexican GAAP- issued by the Consejo Mexicano para la Investigación y Desarrollo de Normas de Información Financiera (CINIF). Based on FRS B-10 "Inflation effects", 2010 and 2011 amounts are expressed in nominal terms. Based on FRS B-3 "Income Statement and FRS C-10 Derivative Financial Instruments and Hedging Transactions, the financial income and cost of the Comprehensive Financial Result include the effect of financial derivatives. EBITDA is a non-u.s. GAAP and non-frs measure issued by CINIF. Budgetary information is based on standards from Mexican governmental accounting; therefore, it does not include information from the subsidiary companies of Petróleos Mexicanos. Foreign exchange conversions Convenience translations into U.S. dollars of amounts in Mexican pesos have been made at the established exchange rate, at September 30, 2011, of Ps = U.S.$1.00. Such translations should not be construed as a representation that the peso amounts have been or could be converted into U.S. dollars at the foregoing or any other rate. Fiscal regime Since January 1, 2006, PEMEX has been subject to a new fiscal regime. Pemex-Exploration and Production s (PEP) tax regime is governed by the Federal Duties Law, while the tax regimes of the other Subsidiary Entities continue to be governed by Mexico s Income Tax Law. The most important duty paid by PEP is the Ordinary Hydrocarbons Duty (OHD), the tax base of which is a quasi operating profit. In addition to the payment of the OHD, PEP is required to pay other duties. Under PEMEX s current fiscal regime, the Special Tax on Production and Services (IEPS) applicable to gasoline and diesel is regulated under the Federal Income Law. PEMEX is an intermediary between the Secretary of Finance and Public Credit (SHCP) and the final consumer; PEMEX retains the amount of IEPS and transfers it to the Federal Government. The IEPS rate is calculated as the difference between the retail or final price, and the producer price. The final prices of gasoline and diesel are established by the SHCP. PEMEX s producer price is calculated in reference to that of an efficient refinery operating in the Gulf of Mexico. Since 2006, if the final price is lower than the producer price, the SHCP credits to PEMEX the difference among them. The IEPS credit amount is accrued, whereas the information generally presented by the SHCP is cash-flow. Hydrocarbon reserves Pursuant to Article 10 of the Regulatory Law to Article 27 of the Political Constitution of the United Mexican States Concerning Petroleum Affairs, (i) PEMEX's reports evaluating hydrocarbon reserves shall be approved by the National Hydrocarbons Commission (NHC); and (ii) the Secretary of Energy will register and disclose Mexico's hydrocarbon reserves based on information provided by the NHC. As of the date of this report, this process is ongoing.

3 2 Forward-Looking Statement and Cautionary Note(2/2) Hydrocarbon reserves As of January 1, 2010, the SEC changed its rules to permit oil and gas companies, in their filings with the SEC, to disclose not only proved reserves, but also probable reserves and possible reserves. In addition, we do not necessarily mean that the probable or possible reserves described herein meet the recoverability thresholds established by the SEC in its new definitions. Investors are urged to consider closely the disclosure in our Form 20-F and our annual report to the Mexican Banking and Securities Commission, available at Bids No awards for amounts higher than Ps. 100 billion were assigned during the third quarter For further information, please access Forward-looking statements This report contains forward-looking statements. We may also make written or oral forward-looking statements in our periodic reports to the CNBV and the SEC, in our annual reports, in our offering circulars and prospectuses, in press releases and other written materials and in oral statements made by our officers, directors or employees to third parties. We may include forward-looking statements that address, among other things, our: Drilling and other exploration activities; Import and export activities; Projected and targeted capital expenditures; costs; commitments; revenues; liquidity, etc. Actual results could differ materially from those projected in such forward-looking statements as a result of various factors that may be beyond our control. These factors include, but are not limited to: Changes in international crude oil and natural gas prices; Effects on us from competition; Limitations on our access to sources of financing on competitive terms; Significant economic or political developments in Mexico; Developments affecting the energy sector; and Changes in our regulatory environment. Accordingly, you should not place undue reliance on these forward-looking statements. In any event, these statements speak only as of their dates, and we undertake no obligation to update or revise any of them, whether as a result of new information, future events or otherwise. These risks and uncertainties are more fully detailed in PEMEX s most recent Form 20-F filing with the SEC ( and the PEMEX prospectus filed with the CNBV and available through the Mexican Stock Exchange ( These factors could cause actual results to differ materially from those contained in any forward-looking statement. PEMEX PEMEX is Mexico s national oil and gas company. Created in 1938, it is the exclusive producer of Mexico s oil and gas resources. The operating subsidiary entities are Pemex-Exploration and Production, Pemex-Refining, Pemex-Gas and Basic Petrochemicals and Pemex-Petrochemicals. The principal subsidiary company is PMI.

4 3 Content Highlights Upstream Downstream Financial Results Questions and Answers

4 Context 3Q11 US$/barril 130 120 110 100 90 80 70 Avg: 69.3 Crude Oil Prices (U.S.$/b) Brent Mexican Mix Avg: 101.2 60 1/7/10 1/9/10 1/11/10 1/1/11 1/3/11 1/5/11 1/7/11 1/9/11 US$/MMBtu 5.5 5.0 4.

5 4 Context 3Q11 US$/barril Avg: 69.3 Crude Oil Prices (U.S.$/b) Brent Mexican Mix Avg: /7/10 1/9/10 1/11/10 1/1/11 1/3/11 1/5/11 1/7/11 1/9/11 US$/MMBtu Avg: 4.3 Natural Gas Prices (U.S.$/MMBtu) Henry Hubb Avg: /7/10 1/9/10 1/11/10 1/1/11 1/3/11 1/5/11 1/7/11 1/9/11 US$/Gal Avg: 1.97 Prices of Gasoline in the U.S. Gulf of Mexico (U.S.$/b) Regular Gasoline in the U.S. Gulf of Mexico Avg.: /7/10 1/9/10 1/11/10 1/1/11 1/3/11 1/5/11 1/7/11 1/9/11 Ps./US$ Avg.: Exchange Rate (Ps./U.S.$) Currency Appreciation Avg.: /7/10 1/9/10 1/11/10 1/1/11 1/3/11 1/5/11 1/7/11 1/9/11

6 5 Highlights 3Q11 Revenues from sales amounted to Ps billion, continuing to show an upward trend due to international prices of hydrocarbons and to our stable production platform. Crude oil production remained above 2.5 million barrels per day. EBITDA, a proxy of cash flow, recorded an increase of 24.8% due to increased revenues. Taxes paid increased 35%, amounting to Ps.214 billion (U.S.$15.9 billion). During the third quarter, PEMEX recorded a net loss of Ps billion, due to an exchange loss of Ps billion, caused by the depreciation of the Mexican peso against the U.S. dollar, as well as taxes and duties, which represented 55% of total revenues. During the first nine months of 2011, PEMEX recorded a net loss of Ps billion, as a result of an exchange loss of Ps billion, due to the depreciation of the Mexican peso against the U.S. dollar, as well as to the tax burden.

7 6 Content Highlights Upstream Downstream Financial Results Questions and Answers

8 7 Mbd Crude Oil Production 2,567 2,552 2,572 2,558 2,525 12% 12% 13% 13% 13% 31% 33% 33% 31% 31% 26% 57% 55% 54% 56% 56% 74% 3Q10 4Q10 1Q11 2Q11 3Q11 Heavy Light Extra-light Offshore Onshore Daily Production 3Q11 2,700 2,400 2,100 1,800 1,500 1, /07/11 15/07/11 29/07/11 12/08/11 26/08/11 9/09/11 23/09/11 Heavy Light Extra-light Without the production shutdowns caused by the maintenance works in the FPSO and the Tropical Storm Nate, average production would have totaled, approximately, 2,550 Mbd.

9 8 Mbd Crude Oil Production - Diversification Average Monthly Decline Rate 2.92% 2.97% 1.39% 1.00% Other SL 6.6% 5.3% Other 16.6% BJ 6.3% KMZ 8.9% SL 8.8% 1, APC 9.6% LT 10.8% APC 10.9% Jan.-Sep. 08 Jan.-Sep. 09 Jan.-Sep. 10 Cantarell's Production (Mbd) Jan.-Sep % SL: BJ: Cantarell 63.3% Jan.-Sep. Samaria-Luna 04 Bellota-Jujo 83.5% Cantarell 20.0% KMZ 32.8% LT: Litoral Jan.-Sep. de Tabasco 11 KMZ: Ku-Maloob-Zaap APC: Abkatún-Pol-Chuc Aceite Terciario del Golfo Production Heavy Light The technological and operational efforts carried out in the ATG Project have generated positive results.

10 9 Natural Gas Production 1 MMcfd Natural Gas Production 6,339 6,290 6,167 5,937 5,838 40% 38% 37% 37% 37% 34% 60% 62% 63% 63% 63% 66% 3Q10 4Q10 1Q11 2Q11 3Q11 Associated Non-Associated Offshore Onshore Gas Flaring MMcfd Gas Flaring (MMcfd) Gas Flaring / Total Gas Produced 7.8% % % 5.1% 4.4% % 8.0% 6.0% 4.0% 2.0% Natural gas utilization increased to 96% 3Q10 4Q10 1Q11 2Q11 3Q11 0.0% (1) Does not include nitrogen.

11 10 Operational Infrastructure Wells 7,382 7,606 7,837 7,963 8, % 2,925 3,032 3,069 3,077 3,094 4,266 4,382 4,578 4,701 4,799 94% Offshore Onshore 3Q10 4Q10 1Q11 2Q11 3Q11 Crude oil Non-Associated Gas Injection Drilling Equipment Exploration 19% 81% Offshore Onshore Development 3Q10 4Q10 1Q11 2Q11 3Q11 Development Exploration 81% 19% Offshore Onshore

Km Km2 11 Seismic Information 1,000 13,288 14,000 800 600 400 647 3,722 946 9,431 605 12,000 10,000 8,000 6,000 4,000 0% 5% 95% 40% 55% 200 3Q10 4Q10 1Q11 2Q11

(MMcfd) Type of Hydrocarbon YAXCHE DOS BOCAS CITAM KINBE-1 CHUHUK-1 CHE-1 SINAN SIKIL CHUKUA MISON BOLONTIKU- KAB 501 HAYABIL KIX YUM MAY-1 RIBEREÑO GABANUDO

12 Km Km2 11 Seismic Information 1,000 13,288 14, , , ,000 10,000 8,000 6,000 4,000 0% 5% 95% 40% 55% 200 3Q10 4Q10 1Q11 2Q11 3Q11 2 2D (Km) 3D (Km ) 2,000 Shallow Waters Tzumat Deep Waters Centauro Project Well Main Discoveries 3Q11 Initial Production Oil and Condensates (bd) Gas (MMcfd) Type of Hydrocarbon YAXCHE DOS BOCAS CITAM KINBE-1 CHUHUK-1 CHE-1 SINAN SIKIL CHUKUA MISON BOLONTIKU- KAB 501 HAYABIL KIX YUM MAY-1 RIBEREÑO GABANUDO FRONTERA TANGUAYACA CD. DEL CARMEN LAGUNA DE TÉRMINOS Litoral de Tabasco Kinbe-1 5, Light crude oil and gas Burgos Bocaxa Gas and condensates VILLAHERMOSA

First Tender: Mature Fields in the South Region PEMEX awarded the first round of Integrated Exploration and Production Contracts for mature fields in the Sourthern Region.

3 US $9.40/b Mature Fields Southern Region Expected Investment U.S.$ MM 189.1 195.4 132.2 86.

13 First Tender: Mature Fields in the South Region PEMEX awarded the first round of Integrated Exploration and Production Contracts for mature fields in the Sourthern Region. Field Company Investment (MM) 1 Bid Offered Magallanes Petrofac Facilities U.S.$205.5 US $5.01/b Santuario Petrofac Facilities U.S.$116.9 US $5.01/b Carrizo Dowell Schlumberger U.S.$33.3 US $9.40/b Mature Fields Southern Region Expected Investment U.S.$ MM Publication of the Public Tender 03/01/11 Bidding Packages Sales Limit 07/06/11 Prequalification Period 07/12/11-07/27/11 Awarding 08/18/11 Contract Signing 08/18/11-10/18/11 (1) Minimum investment obligations for the development phase, first 2 years. 12

14 13 Content Highlights Upstream Downstream Financial Results Questions and Answers

15 14 Crude Oil Processing Mbd 1,363 1,230 1,327 1,319 1,304 Crude Oil Processing Heavy Crude Light Crude Petroleum products production Q10 4Q10 1Q11 2Q11 3Q11 Production of Petroleum Products Mt 1,500 1,250 1, ,318 6% Other 1 4% Jet fuel 16% LPG 21% Diesel 23% Fuel oil 30% Automotive Gasolines - 3Q10 4Q10 1Q11 2Q11 3Q11 (1) Includes paraffins, furfural extract, aeroflex, asphalt, lubricants, coke, cyclical light oil and other gasolines.

(%) Heavy 33 70 Additional Production of

16 15 Minatitlán s Reconfiguration 2008 Ref. Reconfigurada Crude Oil Process (Mbd) (%) Heavy Additional Production of Gasoline 0 58 Additional Production of Middle Distillates 0 34

17 16 Natural Gas Processing and Dry Natural Gas and Gas Liquids Production Processing MMcfd 4,435 4,383 4,525 4,559 4,514 Sweet Wet Gas Sour Wet Gas 1, ,042 1,073 1,097 3,413 3,398 3,483 3,486 3,417 3Q10 4Q10 1Q11 2Q11 3Q11 Production MMcfd 3,800 3,600 3,578 3,570 3, ,703 3, Mbd Dry Gas from Plants (MMcfd) Natural Gas Liquids (Mbd) 1 3,400 3, Q10 4Q10 1Q11 2Q11 3Q (1) Does not include condensate process.

18 17 Mt Production of Petrochemicals 1,497 1,454 1,474 1, , Other* 1 Propylene and Derivatives Aromatics and Derivatives Ethane Derivatives Methane Derivatives Basic Q10 4Q10 1Q11 2Q11 3Q11 (1) Includes muriatic acid, butadiene, polyethylene wax, petrochemical specialties, BTX liquids, hydrogen, isohexane, pyrolysis liquids, oxygen, CPDI, sulfur, isopropyl alcohol, amorphous gasoline, octane basis gasoline and heavy naphtha.

19 18 Content Highlights Upstream Downstream Financial Results Questions and Answers

20 19 3Q11 Financial Highlights Total revenue from sales and services Total revenue from sales and services including IEPS 3Q10 3Q11 3Q10 3Q11 Billion Pesos Variation Billion Dollars % % Gross Income % Operating Income % Income before Taxes and Duties % Taxes and Duties % Net Income (loss) (2.8) (81.0) (0.2) (6.0) EBITDA % (1) Earnings before interests, taxes, depreciation and amortization. Excludes IEPS.

21 20 Ps. MM 23.5% Total Sales 317,568 30,062 44, ,136 3Q10 Domestic Sales Exports Services Income 3Q11 Domestic Sales Export Sales 171,338 6,494 17, , % 201,400 8,104 16, ,365 Petrochemical Products Dry Gas Petroleum Products 144,746 18,740 16, , % 189,431 24,792 16, ,195 Other Petroleum Products Crude Oil and Condensates 3Q10 3Q11 3Q10 3Q11

22 21 Cost of Sales and General Expenses Ps. MM Cost of Sales and General Expenses and Comprehensive Financial Result 28.7% 181,832 52, ,052 3Q10 Cost of Sales General Expenses 3Q11 Comprehensive Financial Result 6,862 (23,161) (50,904) (67,202) 3Q10 Financial income Exchange loss 3Q11

23 22 Ps. MM Taxes and Duties 60,323 4, ,003 (28,558) 185, ,348 3Q10 Hydrocarbon duties Other taxes 3Q11 IEPS acreditable 3Q11 payable 158,348 9,897 18, ,016 3Q10 214,003 12,043 21, ,574 3Q11 Other Duties Hydrocarbons Duty for the Stabilization Fund Ordinary Hydrocarbons Duty

24 23 Net Income Evolution 29,164 (50,828) 74,568 (74,065) (2,758) (80,965) (55,654) 3Q10 Total Sales Other Revenues (1) Cost and Operating Expenses CFR Taxes and Duties 3Q11 (1) Includes sharing in non-consolidated subsidiaries and affiliates.

25 24 External and Structural Effects PEMEX Economic impact by external and structural effects Third quarter (Jul.-Sep) Ps. MM U.S.$MM Cost of the LPG subsidy Not-recognized costs in the price mechanism of automotive gasoline and diesel Decrease in Duties paid due to recognition of operating cost and expenses incurred in Labor obligations Incremental taxes Total (3.6) (0.3)

26 25 Consolidated Accounting Cash Flow 105, ,915 (99,962) 761,265 (23,834) (125,279) (626,771) 133, ,297 Cash at the Beginning of the Year Revenues from 1 Operations Financing Activities 2 Available Cashflow Amortizations Interest paid 2 Investments Taxes Cash at the end of the Period 3 (1) Before taxes. (2) Excludes Financed Public Works Contract Program. (3) Includes change of cash effect of Ps. 4,228 million.

27 26 Consolidated Debt 8.8% 664,725 89, ,733 (99,962) 48, , ,575 (128,297) 595, , , ,955 Total Debt 4Q10 Financing Activities 1 Amortizations Exchange Loss Total Debt 3Q11 Cash & Cash Equivalents Net Debt 3Q11 Net Debt 4Q10 (1) Includes Ps. 4.7 billion from Financed Public Works Contract Program. (2) Includes Ps million of interest payable.

28 27 Content Main Highlights Upstream Downstream Financial Results Questions and Answers

29 Investor Relations (+52 55)

Preliminary Results Second Quarter July 26, 2013

Preliminary Results Second Quarter 2013 July 26, 2013 1 Forward-Looking Statement and Cautionary Note (1/2) Variations If no further specification is included, changes are made against the same period