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 September 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 17 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 nine-month period ended September 30, 2023 Exploration Industrial Logistics DPRLP Trading Corporate Other Intersegment Total Revenues: Trade Ps. 326,681,664 582,370,544 — 134,228,006 231,681,294 — 16,612,475 — Ps. 1,291,573,983 Intersegment 349,649,964 204,985,694 77,309,358 8,816,626 441,810,012 69,794,786 43,005,200 (1,195,371,640) — Services income 19,399 256,165 1,183,894 — 1,335,569 615 35,473 — 2,831,115 (Impairment) reversal of impairment of wells, pipelines, properties, plant and equipment, net (62,725,055) (11,461,191) (11,306) — — — — — (74,197,552) Cost of sales 347,995,457 870,881,418 60,818,882 128,139,976 660,436,239 855,925 54,644,443 (1,123,206,687) 1,000,565,653 Gross income (loss) 265,630,515 (94,730,206) 17,663,064 14,904,656 14,390,636 68,939,476 5,008,705 (72,164,953) 219,641,893 Distribution, transportation and sale expenses 407,035 15,103,787 14,965 — 106,440 72,864 58,593 (7,140,871) 8,622,813 Administrative expenses 56,114,536 46,735,669 16,076,448 936,203 2,347,112 57,497,408 5,339,226 (65,032,266) 120,014,336 Other revenue 2,158,710 7,476,838 671,412 39,875 559,353 671,891 3,531,380 — 15,109,459 Other expenses 16,779,971 842,940 1,472 18,235 143,274 986 179,900 (7,430) 17,959,348 Operating income (loss) 194,487,683 (149,935,764) 2,241,591 13,990,093 12,353,163 12,040,109 2,962,366 15,614 88,154,855 Financing income 46,072,318 887,740 14,027,927 605,726 435,436 115,008,242 1,166,904 (162,468,870) 15,735,423 Financing cost 92,093,244 21,498,230 275,986 119,832 4,124,271 153,641,450 1,986,765 (162,453,254) 111,286,524 Derivative financial instruments income (cost), net (732,590) 276,481 — — (362,882) (5,830,065) — — (6,649,056) Foreign exchange income (loss), net 104,222,634 80,896,584 123,489 — 38,940 (6,039,281) 3,639,330 — 182,881,696 Profit (loss) sharing in joint ventures and associates (20,095) 480,310 28 — 21,601,383 39,828,966 28,985,669 (90,556,085) 320,176 Total duties, taxes and other 161,175,159 — 4,439,739 106,108 1,598,996 (1,690,020) 501,792 — 166,131,774 Net (loss) income Ps. 90,761,547 (88,892,879) 11,677,310 14,369,879 28,342,773 3,056,541 34,265,712 (90,556,087) 3,024,796 Total current assets 858,883,410 244,102,377 272,149,407 35,181,775 260,975,697 1,759,415,800 98,569,516 (3,032,801,769) 496,476,213 Total non-current assets 893,051,703 516,227,360 152,856,050 28,774,980 109,670,375 265,313,062 434,013,401 (691,551,350) 1,708,355,581 Total current liabilities 604,761,470 1,144,613,083 78,460,391 5,979,220 209,000,818 2,031,565,445 63,676,155 (3,032,731,475) 1,105,325,107 Total long-term liabilities 1,705,451,627 571,676,646 70,758,701 5,147,943 684,933 1,572,456,540 30,102,064 (1,277,289,170) 2,678,989,284 Total equity (deficit) (558,277,984) (955,959,992) 275,786,365 52,829,592 160,960,321 (1,579,293,123) 438,804,698 585,667,526 (1,579,482,597) Depreciation and amortization of wells, pipelines, properties, plant and equipment 70,980,574 7,992,227 4,658,725 1,632,809 217,342 423,162 1,497,775 — 87,402,614 Depreciation of rights of use 214,626 2,363,645 291,299 407,895 586,555 442,232 85,113 — 4,391,365 Net periodic cost of employee benefits 27,629,094 40,264,342 6,207,951 — 2,055 24,516,466 35,504 — 98,655,412 Interest income (1) 135,442 654,263 36,204 316,982 110,309 9,065,807 818,430 — 11,137,437 Interest cost (2) (449,023) 2,535,607 275,499 119,832 3,386,898 96,450,619 1,681,743 — 104,001,175 (1) Included in financing income. (2) Included in financing cost. For the three-month period ended September 30, 2023 Exploration Industrial Logistics DPRLP Trading Corporate Other Intersegment Total Revenues: Trade Ps. 116,472,969 190,770,615 — 52,356,062 94,852,689 — 6,628,712 — Ps. 461,081,047 Intersegment 106,464,231 82,689,778 22,642,592 2,569,283 160,521,518 24,759,973 16,020,560 (415,667,935) — Services income 6,220 91,520 299,619 — 323,019 158 7,676 — 728,212 (Impairment) reversal of impairment of wells, pipelines, properties, plant and equipment, net (3,188,960) (4,912,795) (11,306) — — — — — (8,113,061) Cost of sales 122,618,423 293,763,555 20,776,466 47,470,021 250,731,960 395,394 21,912,110 (389,647,415) 368,020,514 Gross income (loss) 97,136,037 (25,124,437) 2,154,439 7,455,324 4,965,266 24,364,737 744,838 (26,020,520) 85,675,684 Distribution, transportation and sale expenses 90,098 5,531,789 (109,316) — 52,200 55,905 18,521 (4,505,739) 1,133,458 Administrative expenses 20,070,106 13,529,694 5,558,015 559,934 1,069,021 19,364,748 2,068,452 (21,690,099) 40,529,871 Other revenue 591,158 801,185 (337,403) 26,027 196,296 37,967 1,623,781 — 2,939,011 Other expenses 14,380,867 823,092 21 (256,955) 2,279 34 176,373 163,289 15,289,000 Operating income (loss) 63,186,124 (44,207,827) (3,631,684) 7,178,372 4,038,062 4,982,017 105,273 12,029 31,662,366 Financing income 16,019,793 327,917 4,852,626 263,101 228,996 36,026,694 563,474 (50,771,709) 7,510,892 Financing cost 30,179,008 4,277,136 75,567 40,740 1,563,338 50,347,963 781,633 (50,759,678) 36,505,707 Derivative financial instruments income (cost), net (8,009,935) (113,997) — — (188,627) (1,124,836) — — (9,437,395) Foreign exchange (loss) income , net (15,788,024) (35,621,387) (56,998) — (28,747) 4,409,526 (708,806) — (47,794,436) Profit (loss) sharing in joint ventures and associates 15,913 (2,056,431) (16) — 8,897,766 (73,621,949) 10,292,047 56,640,877 168,207 Total duties, taxes and other 23,386,911 — 452,815 37,453 1,197,684 (542,027) 205,450 — 24,738,286 Net (loss) income Ps. 1,857,952 Ps. (85,948,861) Ps. 635,546 Ps. 7,363,280 Ps. 10,186,428 Ps. (79,134,484) Ps. 9,264,905 Ps. 56,640,875 Ps. (79,134,359) Depreciation and amortization of wells, pipelines, properties, plant and equipment 25,574,594 2,286,030 1,501,479 576,330 68,053 139,330 465,620 — 30,611,436 Depreciation of rights of use 101,168 776,527 79,445 407,895 464,211 147,411 29,131 — 2,005,788 Net periodic cost of employee benefits 8,880,743 13,053,216 1,858,687 — 4 7,877,738 12,502 — 31,682,890 Interest income (1) 46,367 168,398 3,316 132,058 69,853 2,932,110 452,524 — 3,804,626 Interest cost (2) (223,773) 810,030 75,545 40,740 1,239,807 32,144,704 603,425 — 34,690,478 (1) Included in financing income. (2) Included in financing cost. For the nine-month period ended September 30, 2022 Exploration Industrial Logistics DPRLP (1) Trading Corporate Other Intersegment Total Revenues: Trade 462,454,632 941,863,769 — 189,158,354 254,743,701 — 15,131,707 — 1,863,352,163 Intersegment 562,033,202 230,974,203 59,791,260 20,967,761 628,698,634 57,619,388 54,839,232 (1,614,923,680) — Services income 79,745 848,424 1,179,703 836,822 1,604,767 697 10,820 — 4,560,978 Reversal of impairment of wells, pipelines, properties, plant and equipment, net 11,959,635 43,088,866 1,542,907 — 282,438 — — — 56,873,846 Cost of sales 438,349,515 1,205,542,223 51,454,089 192,477,889 877,139,880 921,266 66,836,749 (1,557,986,203) 1,274,735,408 Gross income (loss) 598,177,699 11,233,039 11,059,781 18,485,048 8,189,660 56,698,819 3,145,010 (56,937,477) 650,051,579 Distribution, transportation and sales expenses 190,138 13,309,417 100,624 — 507,615 5,168 69,917 (3,199,277) 10,983,602 Administrative expenses 46,535,113 43,410,761 13,287,149 774,043 1,923,951 54,859,564 4,751,933 (53,284,177) 112,258,337 Other revenue 8,785,857 7,494,057 216,172 3,131,025 10,772,579 162,623 6,236,169 — 36,798,482 Other expenses 3,411,063 1,112,019 (240,925) 7,122 1,022,419 770,526 78,010 (465,355) 5,694,879 Operating income (loss) 556,827,242 (39,105,101) (1,870,895) 20,834,908 15,508,254 1,226,184 4,481,319 11,332 557,913,243 Financing income 59,869,852 300,607 8,538,934 — 327,624 120,492,894 272,711 (168,845,398) 20,957,224 Financing cost 99,041,024 24,028,986 346,656 254,796 2,265,952 151,715,277 972,025 (168,834,063) 109,790,653 Derivative financial instruments (cost) income, net (37,522,838) (33,074) — — (1,018,615) 1,082,680 — — (37,491,847) Foreign exchange gain (loss), net 70,391,771 2,394,005 16,220 — (189,439) (1,024,685) 518,790 — 72,106,662 Profit (loss) sharing in joint ventures and associates (433,797) (1,299,877) (394) — 21,846,815 224,155,079 44,229,790 (288,265,267) 232,349 Taxes, duties and other 316,217,028 — (5,792,579) — (589,418) (1,697,196) 173,384 — 308,311,219 Net income (loss) 233,874,178 (61,772,426) 12,129,788 20,580,112 34,798,105 195,914,071 48,357,201 (288,265,270) 195,615,759 Depreciation and amortization of wells, pipelines, properties, plant and equipment 85,931,942 10,397,976 4,412,095 3,302,226 268,279 424,020 1,495,852 — 106,232,390 Depreciation of rights of use 290,036 2,896,919 425,898 — 532,282 131,396 57,638 — 4,334,169 Net periodic cost of employee benefits 26,604,199 38,797,227 5,936,814 — 826 23,607,928 31,516 — 94,978,510 Interest income (2) 148,175 269,902 3,045 — 36,682 8,051,569 87,590 — 8,596,963 Interest cost (3) (184,992) 3,096,988 347,492 254,796 1,991,497 95,619,876 845,930 — 101,971,587 (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. For the three-month period ended September 30, 2022 Exploration Industrial Logistics DPRLP (1) Trading Corporate Other Intersegment Total Revenues: Trade 154,156,160 323,137,583 — 62,490,302 84,962,122 — 4,775,659 — 629,521,826 Intersegment 188,013,478 85,593,492 18,631,371 12,554,103 249,416,808 19,612,971 22,467,676 (596,289,899) — Services income 23,753 305,550 424,185 (553) 535,727 169 4,431 — 1,293,262 (Impairment) reversal of impairment of wells, pipelines, properties, plant and equipment, net (9,587,839) 2,265,458 68,117 — — — — — (7,254,264) Cost of sales 157,832,041 438,307,485 21,856,967 72,407,279 335,682,357 364,163 26,077,388 (576,590,355) 475,937,325 Gross income (loss) 174,773,511 (27,005,402) (2,733,294) 2,636,573 (767,700) 19,248,977 1,170,378 (19,699,544) 147,623,499 Distribution, transportation and sales expenses (36,771) 5,319,451 41,344 — (50,969) 8,355 31,251 (1,051,905) 4,260,756 Administrative expenses 15,122,898 15,035,732 4,487,058 265,105 513,610 19,239,101 1,359,515 (18,262,699) 37,760,320 Other revenue 5,301,714 4,430,491 38,825 (2,069) 192,112 (67,519) 2,832,136 — 12,725,690 Other expenses 1,146,357 736,875 (210,864) 7,122 481,484 400,424 77,069 (382,912) 2,255,555 Operating income (loss) 163,842,741 (43,666,969) (7,012,007) 2,362,277 (1,519,713) (466,422) 2,534,679 (2,028) 116,072,558 Financing income 15,183,482 136,037 3,459,429 — 105,042 42,674,744 139,504 (58,045,724) 3,652,514 Financing cost 39,606,205 8,571,868 49,899 40,321 868,418 54,024,841 429,794 (58,047,748) 45,543,598 Derivative financial instruments (cost) income, net (16,901,477) (22,683) — — 1,911,506 2,029,960 — — (12,982,694) Foreign exchange gain (loss), net (4,302,160) (5,888,483) 7,980 — (42,803) 1,047,499 (165,542) — (9,343,509) Profit (loss) sharing in joint ventures and associates (28,249) (1,641,520) (400) — 2,961,762 (43,834,562) 3,409,091 39,205,079 71,201 Taxes, duties and other 107,525,698 — (3,213,820) — 133,141 (570,212) 85,013 — 103,959,820 Net income (loss) 10,662,434 (59,655,486) (381,077) 2,321,956 2,414,235 (52,003,410) 5,402,925 39,205,075 (52,033,348) Depreciation and amortization of wells, pipelines, properties, plant and equipment 29,830,489 3,627,478 1,440,377 1,155,189 84,023 141,225 539,616 — 36,818,397 Depreciation of rights of use 103,993 1,034,892 107,069 — 174,237 97,910 20,846 — 1,538,947 Net periodic cost of employee benefits 8,789,223 12,844,503 1,927,785 — (49) 7,805,284 10,505 — 31,377,251 Interest income (2) 78,356 105,812 3,045 — 9,067 3,598,347 70,241 — 3,864,868 Interest cost (3) (329,756) 1,034,912 47,314 40,321 765,315 33,416,507 369,124 — 35,343,737 (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 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 |