Segment Financial Information | SEGMENT FINANCIAL INFORMATION PEMEX’s primary business is the exploration and production of crude oil and natural gas, as well as the production, processing, marketing and distribution of petroleum and petrochemical products. As of June 30, 2023 and December 31, 2022, PEMEX’s operations were conducted through seven business segments: 1. Exploration and Production; 2. Industrial Transformation; 3. Logistics; 4. Deer Park (beginning January 20, 2022); 5. Trading Companies; 6. Corporate; and 7. Other Operating Subsidiary Companies. Due to PEMEX’s structure, there are significant amounts of inter-segment sales among the reporting segments, which are made at market prices. The primary sources of revenue for PEMEX’s business segments are as described below: • The Exploration and Production segment earns revenues from domestic sales of crude oil and natural gas, and from exporting crude oil through certain of the Trading Companies (as defined below). Crude oil export sales are made through the agent subsidiary company PMI CIM, to 16 major customers in various foreign markets. Approximately half of PEMEX’s crude oil is sold to Pemex Industrial Transformation. Additionally, it receives income from drilling services, and servicing and repairing wells. • The Industrial Transformation segment earns revenues from sales of refined petroleum products and derivatives, mainly to third parties within the domestic market. This segment also sells a significant portion of the fuel oil it produces to the Comisión Federal de Electricidad (Federal Eletricity Commission, or “CFE”) and a significant portion of jet fuel produced to the Aeropuertos y Servicios Auxiliares (Airports and Auxiliary Services Agency or “ASA”). This segment’s most important products are different types of gasoline and diesel. The Industrial Transformation segment also earns revenues from domestic sources generated by sales of natural gas, liquefied petroleum gas, naphtha, butane and ethane and certain other petrochemicals such as methane derivatives, ethane derivatives, aromatics, ammonia, fertilizers and its derivatives. • The Logistics segment earns income from transportation and storage of crude oil, petroleum products and petrochemicals, as well as related services, which it provides by employing pipelines and offshore and onshore resources, and from providing services related to the maintenance, handling, guarding and management of these products. • Effective January 20, 2022, the Deer Park segment includes DPRLP's operations, whose operating results and performance are currently and regularly reviewed as a separate business by PEMEX's Board of Directors. DPRLP generates revenues from sales of distillates and gasoline in the U.S. market. • The Trading Companies segment, which consist of PMI CIM, PMI NASA, PMI Trading and MGAS (the “Trading Companies”), earns revenues from trading crude oil, natural gas and petroleum and petrochemical products in international markets. • The Corporate segment provides administrative, financing and consulting services to PEMEX’s subsidiary entities and companies. • The Other Operating Subsidiary Companies segment provides administrative, financing, consulting and logistical services, as well as economic, tax and legal advice and re-insurance services to PEMEX’s subsidiary entities and companies. The following tables present the condensed financial information of these segments, after elimination of unrealized intersegment gain (loss), and include only select line items. The columns before intersegment eliminations include unconsolidated figures. As a result, the line items presented below may not total. These reporting segments are those which PEMEX’s management evaluates in its analysis and on which it bases its decision-making. These reporting segments are presented in PEMEX’s reporting currency. As of/for the six-month period ended June 30, 2023 Exploration Industrial Logistics DPRLP Trading Corporate Other Intersegment Total Revenues: Trade Ps. 210,208,695 391,599,929 — 81,871,944 136,828,605 — 9,983,763 — Ps. 830,492,936 Intersegment 243,185,733 122,295,916 54,666,766 6,247,343 281,288,494 45,034,813 26,984,640 (779,703,705) — Services income 13,179 164,645 884,275 — 1,012,550 457 27,797 — 2,102,903 (Impairment) reversal of impairment of wells, pipelines, properties, plant and equipment, net (59,536,095) (6,548,396) — — — — — — (66,084,491) Cost of sales 225,377,034 577,117,863 40,042,416 80,669,955 409,704,279 460,531 32,732,333 (733,559,272) 632,545,139 Gross income (loss) 168,494,478 (69,605,769) 15,508,625 7,449,332 9,425,370 44,574,739 4,263,867 (46,144,433) 133,966,209 Distribution, transportation and sale expenses 316,937 9,571,998 124,281 — 54,240 16,959 40,072 (2,635,132) 7,489,355 Administrative expenses 36,044,430 33,205,975 10,518,433 376,269 1,278,091 38,132,660 3,270,774 (43,342,167) 79,484,465 Other revenue 1,567,552 6,675,653 1,008,815 13,848 363,057 633,924 1,907,599 — 12,170,448 Other expenses 2,399,104 19,848 1,451 275,190 140,995 952 3,527 (170,719) 2,670,348 Operating income (loss) 131,301,559 (105,727,937) 5,873,275 6,811,721 8,315,101 7,058,092 2,857,093 3,585 56,492,489 Financing income 30,052,525 559,823 9,175,301 342,625 206,440 78,981,548 603,430 (111,697,161) 8,224,531 Financing cost 61,914,236 17,221,094 200,419 79,092 2,560,933 103,293,487 1,205,132 (111,693,576) 74,780,817 Derivative financial instruments income (cost), net 7,277,345 390,478 — — (174,255) (4,705,229) — — 2,788,339 Foreign exchange income (loss), net 120,010,658 116,517,971 180,487 — 67,687 (10,448,807) 4,348,136 — 230,676,132 Profit (loss) sharing in joint ventures and associates (36,008) 2,536,741 44 — 12,703,617 113,450,915 18,693,622 (147,196,962) 151,969 Total duties, taxes and other 137,788,248 — 3,986,924 68,655 401,312 (1,147,993) 296,342 — 141,393,488 Net income Ps. 88,903,595 (2,944,018) 11,041,764 7,006,599 18,156,345 82,191,025 25,000,807 (147,196,962) 82,159,155 Total current assets 843,095,989 244,095,842 274,576,032 29,017,242 200,879,944 1,520,298,659 105,043,856 (2,738,295,753) 478,711,811 Total non-current assets 842,714,333 493,465,218 155,495,584 27,365,605 99,590,366 291,681,281 399,253,967 (662,359,293) 1,647,207,061 Total current liabilities 503,725,524 1,052,497,596 84,161,480 7,644,001 152,008,082 1,884,684,765 49,373,312 (2,738,225,461) 995,869,299 Total long-term liabilities 1,779,099,360 617,484,028 78,146,459 3,940,414 330,424 1,648,187,493 46,948,084 (1,322,868,236) 2,851,268,026 Total equity (deficit) (597,014,562) (932,420,564) 267,763,677 44,798,432 148,131,804 (1,720,892,318) 407,976,427 660,438,651 (1,721,218,453) Depreciation and amortization of wells, pipelines, properties, plant and equipment 45,405,980 5,706,197 3,157,246 1,056,479 149,289 283,832 1,032,155 — 56,791,178 Depreciation of rights of use 113,458 1,587,118 211,854 — 122,344 294,821 55,982 — 2,385,577 Net periodic cost of employee benefits 18,748,351 27,211,126 4,349,264 — 2,051 16,638,728 23,002 — 66,972,522 Interest income (1) 89,075 485,865 32,888 184,924 40,456 6,133,697 365,906 — 7,332,811 Interest cost (2) (225,250) 1,725,577 199,954 79,092 2,147,091 64,305,915 1,078,318 — 69,310,697 (1) Included in financing income. (2) Included in financing cost. As of/for the three-month period ended June 30, 2023 Exploration Industrial Logistics DPRLP Trading Corporate Other Intersegment Total Revenues: Trade Ps. 110,946,624 178,768,338 — 43,120,554 73,435,364 — 6,308,660 — Ps. 412,579,540 Intersegment 119,412,979 60,765,403 29,994,502 587,387 132,348,619 24,362,588 13,414,644 (380,886,122) — Services income 6,419 121,522 938,914 (222) 502,541 225 7,917 — 1,577,316 (Impairment) reversal of impairment of wells, pipelines, properties, plant and equipment, net (18,867,771) (7,079,332) — — — — — — (25,947,103) Cost of sales 121,795,236 277,734,654 21,622,942 41,697,687 203,398,658 315,117 17,483,960 (355,485,478) 328,562,776 Gross income (loss) 89,703,015 (45,158,723) 9,310,474 2,010,032 2,887,866 24,047,696 2,247,261 (25,400,644) 59,646,977 Distribution, transportation and sale expenses 148,578 3,985,661 76,746 — (25,611) (17,883) 19,442 (1,275,636) 2,911,297 Administrative expenses 19,585,824 17,219,109 5,279,115 150,244 763,313 18,450,331 1,529,133 (23,727,740) 39,249,329 Other revenue 702,841 2,843,993 973,245 9,590 150,105 568,126 725,894 — 5,973,794 Other expenses 1,744,962 (765) 444,794 137,247 19,922 952 3,039 (406,396) 1,943,755 Operating income (loss) 68,926,492 (63,518,735) 4,483,064 1,732,131 2,280,347 6,182,422 1,421,541 9,128 21,516,390 Financing income 13,880,957 348,807 4,552,787 204,983 108,226 37,157,911 254,191 (54,298,483) 2,209,379 Financing cost 28,815,708 9,588,288 118,058 38,100 1,241,563 50,473,637 619,456 (54,289,355) 36,605,455 Derivative financial instruments income (cost), net 3,050,956 174,753 — — (268,857) (466,905) — — 2,489,947 Foreign exchange income (loss), net 54,114,570 55,403,887 106,473 — 32,713 (6,566,620) 2,268,407 — 105,359,430 Profit (loss) sharing in joint ventures and associates (36,963) 1,398,321 44 — 3,121,162 39,013,523 4,551,956 (48,006,030) 42,013 Total duties, taxes and other 65,582,750 — 3,920,277 56,177 335,393 (592,463) 286,191 — 69,588,325 Net income Ps. 45,537,554 Ps. (15,781,255) Ps. 5,104,033 Ps. 1,842,837 Ps. 3,696,635 Ps. 25,439,157 Ps. 7,590,448 Ps. (48,006,030) Ps. 25,423,379 Depreciation and amortization of wells, pipelines, properties, plant and equipment 23,246,437 2,695,759 1,552,736 494,220 67,644 132,626 546,198 — 28,735,620 Depreciation of rights of use 43,680 811,153 115,262 (135,604) 60,417 147,410 35,600 — 1,077,918 Net periodic cost of employee benefits 9,374,176 13,702,260 2,174,632 — 459 8,319,364 11,162 — 33,582,053 Interest income (1) 47,401 329,116 (2,874) 101,007 29,474 2,178,823 147,347 — 2,830,294 Interest cost (2) (76,444) 847,327 118,004 38,100 1,031,926 32,008,505 573,675 — 34,541,093 (1) Included in financing income. (2) Included in financing cost. As of/for the six-month period ended June 30, 2022 Exploration Industrial Logistics DPRLP (1) Trading Corporate Other Intersegment Total Revenues: Trade 308,298,472 618,726,186 — 126,668,052 169,781,579 — 10,356,048 — 1,233,830,337 Intersegment 374,019,724 145,380,711 41,159,889 8,413,658 379,281,826 38,006,417 32,371,556 (1,018,633,781) — Services income 55,992 542,874 755,518 837,375 1,069,040 528 6,389 — 3,267,716 Reversal of impairment of wells, pipelines, properties, plant and equipment, net 21,547,474 40,823,408 1,474,790 — 282,438 — — — 64,128,110 Cost of sales 280,517,474 767,234,738 29,597,122 120,070,610 541,457,523 557,103 40,759,361 (981,395,848) 798,798,083 Gross income (loss) 423,404,188 38,238,441 13,793,075 15,848,475 8,957,360 37,449,842 1,974,632 (37,237,933) 502,428,080 Distribution, transportation and sales expenses 226,909 7,989,966 59,280 — 558,584 (3,187) 38,666 (2,147,372) 6,722,846 Administrative expenses 31,412,215 28,375,029 8,800,091 508,938 1,410,341 35,620,463 3,392,418 (35,021,478) 74,498,017 Other revenue 3,484,143 3,063,566 177,347 3,133,094 10,580,467 230,142 3,404,033 — 24,072,792 Other expenses 2,264,706 375,144 (30,061) — 540,935 370,102 941 (82,443) 3,439,324 Operating income (loss) 392,984,501 4,561,868 5,141,112 18,472,631 17,027,967 1,692,606 1,946,640 13,360 441,840,685 Financing income 44,686,370 164,570 5,079,505 — 222,582 77,818,150 133,207 (110,799,674) 17,304,710 Financing cost 59,434,819 15,457,118 296,757 214,475 1,397,534 97,690,436 542,231 (110,786,315) 64,247,055 Derivative financial instruments (cost) income, net (20,621,361) (10,391) — — (2,930,121) (947,280) — — (24,509,153) Foreign exchange gain (loss), net 74,693,931 8,282,488 8,240 — (146,636) (2,072,184) 684,332 — 81,450,171 Profit (loss) sharing in joint ventures and associates (405,548) 341,643 6 — 18,885,053 267,989,641 40,820,699 (327,470,346) 161,148 Taxes, duties and other 208,691,330 — (2,578,759) — (722,559) (1,126,984) 88,371 — 204,351,399 Net income (loss) 223,211,744 (2,116,940) 12,510,865 18,258,156 32,383,870 247,917,481 42,954,276 (327,470,345) 247,649,107 Depreciation and amortization of wells, pipelines, properties, plant and equipment 56,101,453 6,770,498 2,971,718 2,147,037 184,256 282,795 956,236 — 69,413,993 Depreciation of rights of use 186,043 1,862,027 318,829 — 358,045 33,486 36,792 — 2,795,222 Net periodic cost of employee benefits 17,814,976 25,952,724 4,009,029 — 875 15,802,644 21,011 — 63,601,259 Interest income (2) 69,819 164,090 — — 27,615 4,453,222 17,349 — 4,732,095 Interest cost (3) 144,764 2,062,076 300,178 214,475 1,226,182 62,203,369 476,806 — 66,627,850 (1) Beginning January 20, 2022, DPRLP information is now included as a separate business segment. (2) Included in financing income. (3) Included in financing cost. As of/for the three-month period ended June 30, 2022 Exploration Industrial Logistics DPRLP (1) Trading Corporate Other Intersegment Total Revenues: Trade 176,402,007 372,336,628 — 74,122,078 90,954,226 — 4,885,945 — 718,700,884 Intersegment 202,242,892 81,438,009 22,608,212 16,063,587 243,866,576 21,491,009 22,859,915 (610,570,200) — Services income 45,833 240,376 332,289 (10,005) 464,770 221 3,156 — 1,076,640 Reversal of impairment of wells, pipelines, properties, plant and equipment, net 9,990,163 36,040,099 1,474,790 — 282,438 — — — 47,787,490 Cost of sales 154,405,392 452,943,152 15,967,750 78,458,043 334,450,072 306,429 25,769,717 (588,950,507) 473,350,048 Gross income (loss) 234,275,503 37,111,960 8,447,541 11,717,617 1,117,938 21,184,801 1,979,299 (21,619,693) 294,214,966 Distribution, transportation and sales expenses 95,812 4,143,250 43,281 — 257,652 (5,308) 23,635 (1,144,499) 3,413,823 Administrative expenses 17,086,738 14,507,399 4,443,379 508,132 753,675 17,435,165 2,157,880 (20,404,739) 36,487,629 Other revenue 1,152,714 1,790,925 162,645 (37,434) 144,191 99,443 1,021,310 — 4,333,794 Other expenses 691,951 262,533 (21,840) — 411,970 62 195 (87,419) 1,257,452 Operating income (loss) 217,553,716 19,989,703 4,145,366 11,172,051 (161,168) 3,854,325 818,899 16,964 257,389,856 Financing income 17,205,283 105,124 2,744,749 — 135,093 39,675,983 106,516 (55,682,480) 4,290,268 Financing cost 30,858,509 8,145,452 143,080 90,462 768,596 50,092,918 307,257 (55,665,519) 34,740,755 Derivative financial instruments (cost) income, net (15,003,046) (11,554) — — (1,476,609) (266,740) — — (16,757,949) Foreign exchange gain (loss), net 15,945,048 4,611,961 16,825 — (64,713) (548,431) (312,480) — 19,648,210 (Loss) profit sharing in joint ventures and associates (111,041) 62,323 (1,121) — 10,085,425 131,492,618 16,961,908 (158,392,970) 97,142 Taxes, duties and other 113,131,952 — (6,814,141) — (499,450) (1,126,984) 79,989 — 104,771,366 Net income (loss) 91,599,499 16,612,105 13,576,880 11,081,589 8,248,882 125,241,821 17,187,597 (158,392,967) 125,155,406 Depreciation and amortization of wells, pipelines, properties, plant and equipment 29,691,333 3,271,172 1,489,959 1,100,491 92,774 134,641 490,130 — 36,270,500 Depreciation of rights of use 16,230 931,013 144,078 — 175,734 16,743 18,555 — 1,302,353 Net periodic cost of employee benefits 8,578,072 12,600,962 1,790,501 — (1,378) 7,607,346 10,506 — 30,586,009 Interest income (2) 37,475 104,695 (746) — 8,243 1,425,746 45,226 — 1,620,639 Interest cost (3) 44,344 903,139 151,231 214,475 651,075 31,596,305 274,608 — 33,835,177 (1) Beginning January 20, 2022, DPRLP information is now included as a separate business segment. (2) Included in financing income. (3) Included in financing cost. As of/for the year ended December 31, 2022 Exploration Industrial Logistics DPRLP (1) Trading Companies Corporate Other Intersegment Total Total current assets 915,532,623 296,527,986 251,070,455 31,935,985 208,042,447 1,548,257,534 101,716,681 (2,825,188,933) 527,894,778 Total non-current assets 886,317,756 502,433,210 160,667,832 32,675,568 104,756,605 431,460,970 407,146,635 (807,795,310) 1,717,663,266 Total current liabilities 519,212,766 1,078,322,279 79,817,063 10,287,103 163,897,630 1,856,611,334 46,619,334 (2,825,030,251) 929,737,258 Total non-current liabilities 1,968,555,771 614,563,455 75,200,326 4,153,387 513,730 1,891,640,785 42,864,055 (1,512,848,498) 3,084,643,011 Equity (deficit), net (685,918,158) (893,924,538) 256,720,899 50,171,062 148,387,691 (1,768,533,615) 419,379,927 704,894,507 (1,768,822,225) (1) Beginning January 20, 2022, DPRLP information is now included as a separate business segment |