Content

1 Main Statistics of Production

2 Crude Oil Production by Type
3 Crude Oil Production by Asset
4 Natural Gas Production and Gas Flaring
5 Natural Gas Production by Asset
6 Operating Offshore Platforms and Wells
7 Drilled and Operating Wells
8 Average Operating Drilling Rigs
9 Crude Oil Processing
10 Petroleum Products Production
11 Natural Gas Processing and Production
12 Production of Petrochemicals
13 Industrial Safety and Environmental Protection
14 Volume of Domestic Sales
15 Volume of Exports
16 Volume of Imports
17 Average Exchange Rates and Reference Data
18 Consolidated Income Statement
19 Financial Ratios
20 Sales and Services Revenues
21 Operating Costs and Expenses
22 Interest expense & interest income
23 Taxes and Duties
24 Selected Indices
25 Consolidated Balance Sheet
26 Selected Financial Indices
27 Consolidated Total Financial Debt
28 Financial Debt Maturity Profile
29 Exposure of Debt Principal
30 Derivative Financial Instruments
31 Consolidated Statements of Cash Flows
32 EBITDA Reconciliation
33 Business Segment Information
 PEMEX
Main Statistics of Production

Third quarter (Jul.-Sep.) Nine months ending Sep. 30,

2016 2017 Change 2016 2017 Change

Upstream
Total hydrocarbons (Mboed) 2,997 2,389 -20.3% (609) 3,087 2,657 -13.9% (430)
Liquid hydrocarbons (Mbd) 2,172 1,912 -12.0% (260) 2,219 2,001 -9.8% (218)
Crude oil (Mbd) 2,138 1,884 -11.9% (255) 2,182 1,971 -9.6% (210)
Condensates (Mbd) 33 28 -15.1% (5) 38 30 -19.3% (7)
Natural gas (MMcfd)(1) 5,697 4,857 -14.8% (840) 5,893 5,161 -12.4% (732)
Downstream
Dry gas from plants (MMcfd)(2) 2,994 2,685 -10.3% (308) 3,117 2,747 -11.9% (370)
Natural gas liquids (Mbd) 317 274 -13.6% (43) 311 292 -6.4% (20)
Petroleum products (Mbd)(3) 876 662 -24.4% (214) 1,016 847 -16.7% (169)
Petrochemical products (Mt) 1,010 847 -16.2% (163) 3,206 2,675 -16.6% (531)

(1) Includes nitrogen.

(2) Does not include dry gas used as fuel.
(3) Includes LPG
 PEMEX
Crude Oil Production by Type

Third quarter (Jul.-Sep.) Nine months ending Sep. 30,

2016 2017 Change 2016 2017 Change
Crude oil (Mbd) 2,138 1,884 -11.9% (255) 2,182 1,971 -9.6% (210)
Heavy 1,104 1,007 -8.8% (97) 1,106 1,051 -5.0% (55)
Light 774 671 -13.3% (103) 801 705 -12.1% (97)
Extra-light 260 206 -20.9% (54) 274 215 -21.4% (58)
Offshore crude oil / total 79.4% 80.9% 78.6% 81.0%
 PEMEX
Crude Oil Production by Asset

2015 2016 2017

2013 2014 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q
(Mbd)
Total 2,522 2,429 2,300 2,225 2,266 2,277 2,230 2,176 2,138 2,070 2,018
Northeastern Marine Region 1,304 1,232 1,144 1,144 1,113 1,106 1,091 1,078 1,085 1,075 1,059
Cantarell 440 375 304 282 262 246 230 217 215 202 195
Ku-Maloob-Zaap 864 857 840 861 851 860 861 862 870 874 864
Southwestern Marine Region 593 620 646 576 644 670 648 632 612 582 570
Abkatún-Pol Chuc 294 299 309 239 293 305 285 268 252 230 214
Litoral de Tabasco 299 320 337 337 350 364 364 364 360 352 356
Southern Region 481 452 396 393 398 388 380 356 333 307 285
Cinco Presidentes 93 89 85 89 89 88 88 81 78 73 67
Bellota-Jujo 134 125 103 103 102 99 96 95 90 81 79
Macuspana-Muspac(1) 81 77 62 57 59 58 56 49 43 39 34
Samaria-Luna 173 161 146 145 148 143 141 131 122 115 105
Northern Region 145 125 113 112 112 113 111 109 108 106 104
Burgos 8 5 N/D N/D N/A N/A N/A N/A N/A N/A N/A
Poza Rica-Altamira 61 60 58 59 59 58 57 55 53 51 51
Aceite Terciario del Golfo(2) 66 49 44 42 41 41 41 40 39 39 38
Veracruz 9 11 11 11 12 14 14 15 16 15 15

(1) The Macuspana-Muspac Asset was created in August 2011 and designated as a separate asset in 2012.
(2) The Aceite Terciario del Golfo Asset was created in 2008, when the fields that comprise it were divested from the Poza Rica-Altamira Asset.
 PEMEX
Natural Gas Production and Gas Flaring

Third quarter (Jul.-Sep.) Nine months ending Sep. 30,

2016 2017 Change 2016 2017 Change
Total (MMcfd)(1) 4,770 4,091 -14.2% (679) 4,963 4,264 -14.1% (699)
Associated 3,582 3,086 -13.8% (495) 3,659 3,241 -11.4% (418)
Non-associated 1,188 1,005 -15.5% (184) 1,304 1,023 -21.6% (281)
Natural gas flaring (MMcfd) 502 160 -68.2% (343) 542 220 -59.3% (322)
Gas flaring / total(2) 8.8% 3.3% 9.2% 4.3%

(1) Does not include nitrogen.

(2) Beginning 2016, the calculation of the natural gas use as a percentage of production will be based on total natural gas, including
nitrogen.
 PEMEX
Natural Gas Production by Asset

2015 2016
2013 2014 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q
(MMcfd)
Total (1) 6,370 6,532 6,604 6,282 6,405 6,316 6,104 5,880 5,697 5,492
Northeastern Marine Region 1,412 1,692 1,831 1,835 1,871 1,797 1,704 1,753 1,818 1,820
Cantarell 1,007 1,121 1,317 1,294 1,314 1,184 1,125 1,142 1,227 1,244
Ku-Maloob-Zaap 405 571 514 542 557 612 579 611 591 576
Southwestern Marine Region 1,327 1,396 1,500 1,297 1,489 1,512 1,465 1,364 1,288 1,246
Abkatún-Pol Chuc 579 553 528 353 472 472 454 395 366 348
Litoral Tabasco 748 843 972 944 1,017 1,040 1,010 969 923 898
Southern Region 1,571 1,515 1,374 1,379 1,382 1,386 1,351 1,276 1,222 1,153
Cinco Presidentes 129 153 158 162 164 156 153 140 133 125
Bellota-Jujo 320 289 265 265 266 262 250 237 229 210
Macuspana-Muspac(2) 515 491 466 471 448 436 431 395 366 337
Samaria-Luna 606 583 485 481 504 531 518 504 493 480
Northern Region 2,061 1,929 1,899 1,772 1,663 1,622 1,584 1,487 1,369 1,273
Burgos 1,287 1,221 1,222 1,124 1,043 1,010 993 918 811 739
Poza Rica-Altamira 112 103 100 102 101 103 102 99 98 93
Aceite Terciario del Golfo(3) 167 150 147 145 144 145 145 143 142 140
Veracruz 495 455 429 400 375 365 344 327 318 302

Nitrogen 691 774 850 884 904 947 930 935 928 912
Southern Region 88 111 106 109 125 138 131 123 122 113
Bellota-Jujo 23 51 43 37 36 35 36 31 32 25
Samaria-Luna 65 60 63 71 89 103 96 92 90 87
Northeastern Marine Region 603 663 744 775 778 809 798 812 806 800
Cantarell 603 663 744 775 778 809 798 812 806 800

(1) Includes nitrogen.

(2) The Macuspana-Muspac Asset was created in August 2011 and designated as a separate asset in 2012.
(3) The Aceite Terciario del Golfo Asset was created in 2008; when the fields that comprise it were divested from the Poza Rica-Altamira Asset.
 PEMEX
Operating Offshore Platforms

As of September 30,
2016 2017 Change
Offshore platforms 254 256 0.8% 2
Storage 1 1 0.0% -
Compression 10 10 0.0% -
Control and service 1 1 0.0% -
Linkage 13 13 0.0% -
Measurement 1 1 0.0% -
Drilling 173 175 1.2% 2
Production 25 25 0.0% -
Telecommunications 7 7 0.0% -
Treatment and pumping 1 1 0.0% -
Housing 22 22 0.0% -
 PEMEX
Drilled and Operating Wells

Third quarter (Jul.-Sep.) Nine months ending Sep. 30,

2016 2017 Change 2016 2017 Change
Wells drilled 22 17 -22.7% (5) 124 58 -53.2%
Development 18 12 -33.3% (6) 109 39 -64.2%
Exploration 4 5 25.0% 1 15 19 26.7%

Operating wells 8,514 7,930 -6.9% (584) 8,883 8,063 -9.2%

Crude oil 5,249 5,004 -4.7% (245) 5,496 5,084 -7.5%
Non-associated gas 3,265 2,926 -10.4% (339) 3,387 2,978 -12.1%
ending Sep. 30,
Change
(66)
(70)
4

(821)
(412)
(409)
 PEMEX
Average Operating Drilling Rigs

Third quarter (Jul.-Sep.) Nine months ending Sep. 30,

2016 2017 Change 2016 2017 Change

Total 22 28 27.7% 6 28 25 -12.6% (4)

Exploration 7 12 71.7% 5 8 13 64.7% 5
Development 15 16 6.9% 1 20 12 -41.4% (8)
 Crude Oil Processing

Third quarter (Jul.-Sep.) Nine months ending Sep. 30,

2016 2017 Change 2016 2017 Change
Total processed (Mbd) 849 647 -23.8% (202) 983 832 -15.4% (151)
Light crude 484 383 -20.9% (101) 568 480 -15.6% (88)
Heavy crude 365 265 -27.5% (101) 415 352 -15.1% (63)
Light crude / Total processed 57.0% 59.1% 3.7% 2.1 57.8% 57.7% -0.2% (0.1)
Heavy crude / Total processed 43.0% 40.9% -5.0% (2.1) 42.2% 42.3% 0.3% 0.1
Use of primary distillation capacity 53.0% 40.4% -23.8% (12.6) 61.4% 51.9% -15.4% (9.4)
 PEMEX
Petroleum Products Production

Third quarter (Jul.-Sep.) Nine months ending Sep. 30,

2016 2017 Change 2016 2017 Change
Total production (Mbd) (1)
876 662 -24.4% (214) 1,016 847 -16.7% (169)
Automotive gasolines 273 203 -25.6% (70) 331 268 -19.1% (63)
Fuel oil 217 187 -13.9% (30) 233 237 1.6% 4
Diesel 195 136 -30.1% (59) 234 170 -27.3% (64)
LPG (2) 13 12 -11.0% (1) 19 16 -14.8% (3)
Jet Fuel 41 40 -3.3% (1) 43 43 -0.3% (0)
Other (3)
138 85 -38.3% (53) 155 113 -27.5% (43)

(1) Includes petrochemicals

(2) Includes transfers
(1) Includes dry gas, pet coke, asphalts, light cycle oil, lubricants and paraffins.

Note: As of September 30, 2017 PEMEX had 11,710 service stations.

 PEMEX
Natural Gas Processing and Production

Third quarter (Jul.-Sep.) Nine months ending Sep. 30,

2016 2017 Change 2016 2017 Change
Natural gas processing (MMcfd) 3,648 3,234 -11.4% (415) 3,739 3,338 -10.7% (402)
Sour wet gas 3,004 2,704 -10.0% (300) 3,042 2,773 -8.8% (269)
Sweet wet gas 644 529 -17.8% (115) 697 564 -19.0% (133)
Condensates processing (Mbd) 37.7 32.1 -15.0% (5.7) 42.4 34.4 -18.7% (7.9)
Production
Dry gas from plants (MMcfd) 2,994 2,685 -10.3% (308) 3,117 2,747 -11.9% (370)
Natural gas liquids (Mbd) 317 274 -13.6% (43) 311 292 -6.4% (20)
 PEMEX
Production of Petrochemicals

Third quarter (Jul.-Sep.) Nine months ending Sep. 30,

2016 2017 Change 2016 2017 Change
Total production 1,010 847 -16.2% (163)### 3,206 2,675 -16.6% (531)
Methane derivatives 232 220 -5.5% (13) ### 663 640 -3.5% (23)
Ammonia 140 122 -13.2% (19) ### 398 385 -3.1% (12)
Carbon dioxide 51 57 10.5% 5 ### 145 159 10.1% 15
Methanol 41 41 0.8% 0.3 ### 120 95 -21.0% (25)
Ethane derivatives 218 151 -30.5% (66) ### 662 475 -28.3% (187)
Ethylene glycol 39 18 -54.3% (21) ### 119 76 -36.3% (43)
Impure glycol 1.2 0.6 -49.7% (0.6) ### 3 2 -24.5% (1)
Pure monoethylene glycol 2 1 -30.6% (1) ### 6 3 -40.3% (2)
Ethylene oxide 47 36 -24.7% (12) ### 141 105 -25.7% (36)
High density polyethylene 28 16 -43.9% (12) ### 79 32 -59.9% (47)
Low density polyethylene 34 26 -23.2% (8) ### 117 73 -38.2% (45)
Linear low density polyethylene 67 54 -18.4% (12) ### 188 185 -1.7% (3)
Aromatics and derivatives 193 191 -0.9% (2) ### 559 576 3.1% 17
Aromine 100 2 2 -19.2% (0.4) ### 7 8 8.3% 1
Benzene 0.2 0.1 -43.9% (0.1) ### 0.7 13.9 1791.8% 13
Styrene - - - 0 ### 32 - - (32)
Fluxoil - - - 0 ### 1.0 - - (1)
High octane hydrocarbon 164 163 -1.0% (2) ### 412 454 10.1% 41
Toluene 2 10 438.6% 8 ### 33 41 22.7% 8
Xylenes 24 16 -32.4% (8) ### 72 59 -17.9% (13)
Propylene and derivatives 83 29 -65.4% (54) ### 301 181 -39.9% (120)
Hydrocyanic acid 1.1 - - (1.1) ### 3.0 - - (3.0)
Acrylonitrile 9 - - (9) ### 26 - - (26)
Propylene 73 29 -60.6% (44) ### 272 181 -33.4% (91)
Sulfur 151 151 -0.1% (0) ### 527 436 -17.1% (90)
Carbon black 68 51 -24.3% (17) ### 225 203 -9.9% (22)
Other 65 53 -17.4% (11) ### 270 165 -38.9% (105)
Hexane 0.2 0.5 120.2% 0 ### 6.2 3.1 -49.3% (3)
Pentanes 5 6 35.3% 2 ### 15 19 27.0% 4
Butane 9 10 15.0% 1 ### 27 29 6.0% 2
Other 51 36 -28.7% (15) ### 221 113 -48.7% (108)

Note: "Other" includes muriatic acid, butadiene, polyethylene wax, petrochemical specialities, BTX liquids, hydrogen, isohexane, pyrolysis liquids, oxygen, CPDI, isopropyl
alcohol, amorphous gasoline, octane basis gasoline and heavy naphtha.
 PEMEX
Industrial Safety and Environmental Protection

Third quarter (Jul.-Sep.) Nine months ending Sep. 30,

2016 2017 Change 2016 2017 Change

Frequency index (1)

0.35 0.23 -34.7% (0.12) 0.39 0.35 -9.7% (0.04)
Severity index (2)
26 24 -8.3% (2) 24 23 -6.9% (2)
Sulfur oxide emissions (Mt) 239 131 -45.1% (108) 703 490 -30.2% (213)
Reused water / Use 0.106 0.176 66.5% 0.070 0.123 0.181 47.0% 0.058

(1) Number of lost-time injuries by MMmh risk exposure.

(2) Total days lost by MMmh risk exposure.
Note: MMmh stands for millon man-hours.
 PEMEX
Volume of Domestic Sales

Third quarter (Jul.-Sep.) Nine months ending Sep. 30,

2016 2017 Change 2016 2017 Change
Dry natural gas (MMcfd) 3,413 2,627 -23.0% (786) 3,377 2,798 -17.1%
Petroleum products (Mbd) 1,622 1,558 -4.0% (64) 1,644 1,579 -4.0%
Automotive gasolines 824 801 -2.8% (23) 816 791 -3.1%
Fuel oil 109 124 14.0% 15 99 124 24.4%
Diesel 390 356 -8.6% (34) 386 372 -3.5%
LPG 169 160 -5.1% (9) 206 167 -18.9%
Jet fuel 77 83 7.5% 6 76 82 7.8%
Other 54 34 -36.4% (20) 61 44 -28.4%
Petrochemical products (Mt) (1)
993 1,003 1.0% 10 2,939 3,076 4.7%

(1) Includes Pemex Petrochemicals, Pemex Fertilizers and Pemex Ethylene

nding Sep. 30,
Change
(579)
(65)
(26)
24
(14)
(39)
6
(17)
137
 PEMEX
Volume of Exports(1)

Third quarter (Jul.-Sep.) Nine months ending Sep. 30,

2016 2017 Change 2016 2017 Change
Crude oil (Mbd) 1,276 1,176 -7.8% (100) 1,181 1,106 -6.4% (76)
Maya(2) 976 1,029 5.4% 53 910 1,005 10.4% 95
Istmo 171 114 -33.3% (57) 155 76 -51.0% (79)
Olmeca 129 33 -74.4% (96) 117 25 -78.3% (91)
Dry natural gas (MMcfd)(3) 2 2 -19.3% (0) 2 2 -22.5% (1)
Petroleum products (Mbd) 163 86 -47.2% (77) 194 158 -18.5% (36)
Fuel oil 100 41 -58.8% (59) 123 111 -10.3% (13)
Naftas 53 44 -16.9% (9) 55 47 -15.1% (8)
Other 10 1 -93.0% (9) 15 0 -97.0% (15)
Petrochemical products (Mt) 7 25 273.3% 18 118 53 -55.5% (66)

(1) Transactions conducted by PMI Group.

(2) Includes Altamira.
(3) Transactions conducted by Pemex Industrial Transformation.
 PEMEX
Volume of Imports(1)

Third quarter (Jul.-Sep.) Nine months ending Sep. 30,

2016 2017 Change 2016 2017 Change

Dry natural gas (MMcfd) (2)
2,083 1,654 -20.6% (429) 1,892 1,807 -4.5%
Petroleum products (Mbd) 853 976 14.5% 124 765 891 16.6%
Automotive gasolines 558 608 9.0% 50 483 544 12.8%
Fuel oil 22 36 64.0% 14 10 26 161.5%
Diesel 203 234 15.4% 31 170 227 33.5%
LPG 20 32 58.7% 12 53 36 -32.1%
Jet fuel 38 46 22.0% 8 33 41 23.9%
Naftas 11 20 71.1% 8 15 16 4.8%
Other 0.47 0.41 -13.3% (0.06) 0.5 0.5 -1.4%
Petrochemical products (Mt) 144 157 8.9% 13 409 373 -9.0%

(1) Transactions conducted by PMI Group.

(2) Transactions conducted by Pemex Industrial Transformation.
nding Sep. 30,

Change
(85)
127
62
16
57
(17)
8
1
(0.01)
(37)
 PEMEX
Average Exchange Rates and Reference Data

Third quarter (Jul.-Sep.) Nine months ending Sep. 30,

2016 2017 Change 2016 2017 Change
Mexican crude oil basket (USD/b) 38.27 45.74 19.5% 7.47 33.77 44.30 31.2%
Regular gasoline in the USCGM (USD¢/gal)(1) 138.94 163.38 17.6% 24.44 129.19 156.93 21.5%
LPG price by Decree (MXN/kilo) 7.44 9.79 31.5% 2.35 6.83 9.58 40.2%
International reference LPG (MXN/kilo) 4.82 6.86 42.3% 2.04 4.31 6.71 55.8%
Natural gas (Henry Hub)(USD/MMBtu) (1)
2.85 2.93 2.8% 0.08 2.32 2.99 28.9%

Third quarter (Jul.-Sep.) Nine months ending Sep. 30,

2016 2017 Change 2016 2017 Change
MXN per USD 19.5002 18.1979 -6.7% (1.30) 19.5002 18.1979 -6.7%

(1) Source: Bloomberg

 Change
10.53
27.74
2.75
2.41
0.67

ending Sep. 30,

Change
(1.30)
 PEMEX
Consolidated Income Statement

Third quarter (Jul.-Sep.) Nine months ending Sep. 30,

2016 2017 Change 2017 2016 2017 Change 2017
(MXN million) (USD million) (MXN million) (USD million)
Total sales 274,998 331,352 20.5% 56,354 18,208### 755,697 1,002,401 32.6% 246,704 55,083
Domestic sales 170,520 213,385 25.1% 42,865 11,726### 472,608 642,135 35.9% 169,527 35,286
Exports 101,236 113,928 12.5% 12,691 6,260### 272,766 348,691 27.8% 75,925 19,161
Services income 3,242 4,039 24.6% 797 222### 10,322 11,574 12.1% 1,252 636
Cost of sales 228,521 269,331 17.9% 40,810 14,800### 485,495 736,052 51.6% 250,557 40,447
Gross income 46,477 62,021 33.4% 15,544 3,408### 270,202 266,349 -1.4% (3,853) 14,636
Other revenues (expenses) 25,754 2,998 -88.4% (22,756) 165### 25,494 13,310 -47.8% (12,184) 731
Transportation and distribution expenses 5,982 5,044 -15.7% (938) 277### 19,205 16,578 -13.7% (2,627) 911
Administrative expenses 27,974 30,405 8.7% 2,431 1,671### 83,031 89,229 7.5% 6,198 4,903
Operating income (loss) 38,275 29,570 -22.7% (8,705) 1,625### 193,460 173,852 -10.1% (19,608) 9,553
Financial Cost (25,664) (27,358) -6.6% (1,694) ###
(1,503) (68,811) (76,971) -11.9% (8,160) (4,230)
Financial Income 2,408 4,452 84.9% 2,045 245### 6,637 11,754 77.1% 5,117 646
Income (cost) due to financial derivatives 4,839 4,649 -3.9% (189) 255### 2,843 24,982 778.7% 22,139 1,373
Foreign exchange profit (loss) (52,183) (28,426) 45.5% 23,757 ###
(1,562) (178,142) 174,237 -197.8% 352,379 9,575
Profit sharing in non-consolidated ###
subsidiaries and affiliates 1,445 (763) -152.8% (2,208) (42) 734 112 -84.7% (621) 6
Income before taxes and duties (30,882) (17,876) -42.1% 13,006 ###
(982) (43,279) 307,966 811.6% 351,246 16,923
Taxes and duties 87,442 83,932 -4.0% (3,510) 4,612### 220,523 289,058 31.1% 68,536 15,884
Profit Sharing Duties 81,858 85,846 4.9% 3,988 4,717 209,817 284,118 35.4% 74,301 15,613
Income tax and other 5,584 (1,913) -134.3% (7,497) (105)### 10,706 4,940 -53.9% (5,765) 271
Net income (loss) (118,323) (101,808) 14.0% 16,516 ###
(5,594) (263,802) 18,908 107.2% 282,710 1,039
Other comprehensive results 4,483 (711) -115.9% (5,194) ###
(39) 12,938 (9,405) -172.7% (22,343) (517)
Investment in equity securities 223 1,150 415.4% 927 63### 283 2,758 873.9% 2,475 152
Actuarial losses due to employee benefits - - #DIV/0! - -### (44) - 100.0% 44 -
Conversion effect 4,260 (1,861) 143.7% (6,121) (102)### 12,698 (12,163) -195.8% (24,861) (668)
Comprehensive income (loss) (113,840) (102,519) 9.9% 11,322 (5,634)
### (250,864) 9,503 103.8% 260,368 522
 PEMEX
Financial Ratios

Third quarter (Jul.-Sep.) Nine months ending Sep. 30,

2016 2017 Change 2016 2017 Change
Cost of sales / Total revenues 83.1% 81.3% (1.8) 64.2% 73.4% 9.2
D&A / Operating costs & expenses 11.2% 13.4% 2.3 13.6% 13.7% 0.1
Operating income / Total revenues (including
13.9% 8.9% (5.0) 25.6% 17.3% (8.3)
negative IEPS credit)
Taxes and duties / Total revenues (including negative
31.8% 25.3% (6.5) 29.2% 28.8% (0.3)
IEPS credit)
Earnings before Interest, Taxes Depreciation and
3.8 3.5 (0.4) 5.5 4.8 (0.6)
Amortization (EBITDA) / Interest expense
 PEMEX
Sales and Services Revenues

Third quarter (Jul.-Sep.) Nine months ending Sep. 30,

2016 2017 Change 2017 2016 2017 Change 2017
(MXN million) (USD million) (MXN million) (USD million)
Total revenues from sales and services 274,998 331,352 20.5% 56,354 18,208 755,697 1,002,401 32.6% 246,704 55,083
Domestic sales 170,520 213,385 25.1% 42,865 11,726 472,608 642,135 35.9% 169,527 35,286
Dry gas 17,087 15,571 -8.9% (1,516) 856
### 39,356 54,851 39.4% 15,495 3,014
Petroleum products 147,488 192,601 30.6% 45,113 10,584
### 414,288 570,718 37.8% 156,430 31,362
Gasolines 86,855 112,482 29.5% 25,627 6,181
### 236,237 322,372 36.5% 86,135 17,715
Fuel oil 4,601 8,010 74.1% 3,408 440
### 10,425 24,818 138.1% 14,392 1,364
Diesel 35,102 50,958 45.2% 15,856 2,800
### 95,843 155,836 62.6% 59,993 8,563
LPG 8,757 10,591 20.9% 1,833 582
### 39,525 33,777 -14.5% (5,748) 1,856
Jet fuel 7,782 9,205 18.3% 1,423 506
### 20,064 28,002 39.6% 7,938 1,539
Other (1) 4,390 1,355 -69.1% (3,035) 74
### 12,194 5,913 -51.5% (6,281) 325
Petrochemical products (2)
5,945 5,213 -12.3% (732) 286
### 18,964 16,566 -12.6% (2,398) 910
Exports 101,236 113,928 12.5% 12,691 6,260 272,766 348,691 27.8% 75,925 19,161
Crude oil and condensates 83,710 87,025 4.0% 3,315 4,782 198,839 254,262 27.9% 55,424 13,972
Dry gas 6 5 -16.7% (1) 0 14 18 27.4% 4 1
Petroleum products 16,478 26,018 57.9% 9,540 1,430 70,882 91,199 28.7% 20,317 5,012
Petrochemical products 1,043 869 -16.7% (174) 48 2,971 3,103 4.5% 133 171
Suphur - 11 #DIV/0! 11 1 60 108 79.0% 48 6
Services revenues 3,242 4,039 24.6% 797 222 10,322 11,574 12.1% 1,252 636

(1) Includes propylene refining, asphalts, shrinkage, sulfur, hexane, solvent L and others.
(2) Includes Pemex Petrochemicals, Pemex Fertilizers, Pemex Ethylene and Pemex Fertinal
 PEMEX
Operating Costs and Expenses

Third quarter (Jul.-Sep.) Nine months ending Sep. 30,

2016 2017 Change 2017 2016 2017 Change 2017
(MXN million) (USD million) (MXN million) (USD million)
Operating costs and expenses 262,477 304,780 16.1% 42,303 16,748 587,731 841,859 43.2% 254,127 46,261
Cost of sales 228,521 269,331 17.9% 40,810 14,800 485,495 736,052 51.6% 250,557 40,447
Operating expenses 30,340 28,867 -4.9% (1,473) 1,586 87,476 93,293 6.6% 5,817 5,127
Purchases for resale 104,314 121,866 16.8% 17,552 6,697 253,259 351,326 38.7% 98,067 19,306
Hydrocarbon exploration taxes 341 320 -6.2% (21) 18 1,010 960 -4.9% (50) 53
Hydrocarbon exploration duties 259 245 -5.7% (15) 13 775 736 -5.0% (39) 40
Hydrocarbon extraction taxes 561 921 64.3% 361 51 1,769 2,274 28.6% 505 125
Hydrocarbon extraction duties 11,819 11,825 0.0% 6 650 30,811 40,564 31.7% 9,752 2,229
Other 80,887 105,287 30.2% 24,400 5,786 110,394 246,899 123.7% 136,505 13,567
Net cost for the period of employee benefits 8,996 8,177 -9.1% (819) 449 26,990 24,532 -9.1% (2,458) 1,348
Depreciation and amortization expenses 28,886 36,056 24.8% 7,169 1,981 92,045 108,591 18.0% 16,546 5,967
Impairment of wells, pipelines, property, plant and equipment (12) 33,080 -286465.6% 33,091 1,818 (99,036) 36,481 -136.8% 135,517 2,005
Other concepts 43,016 27,974 -35.0% (15,042) 1,537 90,395 77,294 -14.5% (13,101) 4,247
Transportation and distribution expenses 5,982 5,044 -15.7% (938) 277 19,205 16,578 -13.7% (2,627) 911
Administrative expenses 27,974 30,405 8.7% 2,431 1,671 83,031 89,229 7.5% 6,198 4,903

Note: "Other" includes depreciation, amortizations, impairment, net cost for the period of employee benefits, preservation and maintenance, exploration expenses, non-successful wells, inventories variation, subsidiary entities consolidation net effect.
 PEMEX
Interest expense & interest income

Third quarter (Jul.-Sep.) Nine months ending Sep. 30,

2016 2017 Change 2017 2016 2017 Change 2017
(MXN million) (USD million) (MXN million) (USD million)
Total interest expense (24,924) (30,647) 23.0% (5,723) (1,684) (78,980) (87,676) 11.0% (8,696) (4,818)
Interest expense (25,664) (27,358) 6.6% (1,694) (1,503) (68,811) (76,971) 11.9% (8,160) (4,230)
Income (cost) by financial derivatives 741 (3,289) 544.1% (4,030) (181) (10,169) (10,705) 5.3% (536) (588)
Total interest income 6,506 12,391 90.5% 5,885 681 19,650 47,442 141.4% 27,792 2,607
Interest income 2,408 4,452 84.9% 2,045 245 6,637 11,754 77.1% 5,117 646
Income (cost) by financial derivatives 4,098 7,939 93.7% 3,841 436 13,013 35,688 174.3% 22,675 1,961
 PEMEX
Taxes and Duties

Third quarter (Jul.-Sep.) Nine months ending Sep. 30,

2016 2017 Change 2017 2016 2017 Change 2017
(MXN million) (USD million) (MXN million) (USD million)
Total taxes and duties 87,442 83,932 -4.0% - 3,510 4,612 220,523 289,058 31.1% 68,536 15,884
Profit sharing duty 81,858 85,846 4.9% 3,988 4,717 209,817 284,118 35.4% 74,301 15,613
Income tax 5,584 - 1,913 -134.3% - 7,497 - 105
### 10,706 4,940 -53.9% - 5,765 271
 PEMEX
Selected Indices

As of September 30,
Pemex - Exploration and Production 2016 2017 Change

Total sales / Hydrocarbons production (MXN/boe) 520.6 759.4 238.9

Operating income / Hydrocarbons production (MXN/boe) 9.6 294.2 284.6
Net income / Hydrocarbons production (MXN/boe) (290.4) 107.2 397.5
Taxes and duties / Operating income (%) 133.1% 133.2% 0.1
 2017
(USD/boe)
41.7
16.2
5.9
 PEMEX
Consolidated Balance Sheet

As of December 31, As of September 30,

2016 2017 Change 2017
(MXN million) (USD million)
Total assets 2,329,886 2,235,765 -4.0% (94,121) 122,858
Current assets 355,399 371,363 4.5% 15,965 20,407
Cash and cash equivalents 163,533 146,123 -10.6% (17,410) 8,030
Accounts, notes receivable and other 133,221 144,866 8.7% 11,646 7,961
Inventories 45,892 57,616 25.5% 11,724 3,166
Available non-current assets kept for sale 7,461 2,714 -63.6% (4,746) 149
Available for sale financial assets 436 - 0.0% - -
Derivative financial instruments 4,857 20,045 312.7% 15,187 1,101
Permanent investment in shares of associates 23,155 17,790 -23.2% (5,364) 978
Property, plant and equipment 1,667,742 1,569,596 -5.9% (98,146) 86,251
Deferred taxes 100,325 97,031 -3.3% (3,294) 5,332
Restricted cash 10,479 - -100.0% (10,479) -
Other assets 166,759 172,852 3.7% 6,092 9,498
Available for sale financial assets 6,028 7,134 18.3% 1,106 392
Total liabilities 3,562,894 3,459,270 -2.9% (103,624) 190,092
Current liabilities 426,190 366,172 -14.1% (60,017) 20,122
Short-term financial debt 176,166 192,225 9.1% 16,059 10,563
Suppliers 151,650 93,776 -38.2% (57,873) 5,153
Accounts and accrued expenses payable 18,667 24,427 30.9% 5,760 1,342
Derivative financial instruments 30,868 11,438 -62.9% (19,430) 629
Taxes and duties payable 48,840 44,307 -9.3% (4,533) 2,435
Long-term liabilities 3,136,704 3,093,098 -1.4% (43,606) 169,970
Long-term financial debt 1,807,005 1,736,191 -3.9% (70,814) 95,406
Reserve for employee benefits 1,220,409 1,264,010 3.6% 43,601 69,459
Reserve for diverse credits 88,318 74,249 -15.9% (14,069) 4,080
Other liabilities 16,838 14,682 -12.8% (2,156) 807
Deferred taxes 4,135 3,967 -4.1% (168) 218
Total equity (1,233,008) (1,223,505) -0.8% 9,503 (67,233)
Holding (1,233,985) (1,224,434) -0.8% 9,550 (67,284)
Certificates of contribution "A" 356,544 356,544 0.0% - 19,593
Federal Government Contributions 43,731 43,731 0.0% - 2,403
Legal Reserve 1,002 1,002 0.0% - 55
Comprehensive accumulated results (163,399) (172,748) -5.7% (9,348) (9,493)
Retained earnings (accumulated losses) (1,471,863) (1,452,964) -1.3% 18,899 (79,842)
From prior years (1,280,217) (1,471,863) -15.0% (191,646) (80,881)
For the year (191,646) 18,899 109.9% 210,544 1,039
Participation of non-holding entities 977 929 -4.8% (47) 51
Total liabilities and equity 2,329,886 2,235,765 -4.0% (94,121) 122,858
 PEMEX
Selected Financial Indices

As of Dec. 31, As of September 30,

2016 2017 Change
Property, plant and equipment / Assets 71.6% 70.2% (1.4)
Financial debt / Total liabilities and equity 85.1% 86.3% 1.1
Working capital (MXN million) (70,791) 5,191 75,982
 PEMEX
Consolidated total financial debt

As of Dec. 31, As of September 30,

2016 2017 Change 2017
(MXN million) (USD million)
Total financial debt 1,983,171 1,928,415 -2.8% (54,755) 105,969
Short-term 176,166 192,225 9.1% 16,059 10,563
Long-term 1,807,005 1,736,191 -3.9% (70,814) 95,406

Cash and cash equivalents 163,533 146,123 -10.6% (17,410) 8,030

Total net financial debt 1,819,638 1,782,293 -2.1% (37,345) 97,939
 PEMEX
Financial debt maturity profile

As of September 30, 2017

(MXN million) (USD million)
Total financial debt 1,928,415 105,969

In Mexican pesos 288,960 15,879

2017 21,071 1,158
January 2018 -September 2018 6,738 370
Octobe 2018 - September 2019 22,887 1,258
Octobe 2018 - September 2020 46,255 2,542
Octobe 2018 - September 2021 22,144 1,217
October 2021 and forward 169,864 9,334

Other currencies 1,639,456 90,090

2017 97,632 5,365
January 2018 -September 2018 66,783 3,670
Octobe 2018 - September 2019 104,555 5,745
Octobe 2018 - September 2020 121,062 6,653
Octobe 2018 - September 2021 177,448 9,751
October 2021 and forward 1,071,977 58,907
 PEMEX
Exposure of Debt Principal(1)

As of December 31, As of September 30, As of December 31, As of September 30, As of December 31, As of September 30,
2016 2017 2016 2017 2016 2017

By currency At fixed rate At floating rate

Total 100.0% 100.0% 74.5% 82.0% 25.5% 18.0%

USD 83.0% 81.8% 84.8% 87.1% 15.2% 12.9%
MXN 15.8% 15.0% 44.9% 50.6% 55.1% 49.4%
EUR 0.0% 2.3% 0.0% 100.0% 0.0% 0.0%
JPY 0.6% 0.5% 100.0% 100.0% 0.0% 0.0%
UDIs 0.6% 0.3% 100.0% 100.0% 0.0% 0.0%

(1) Includes derivative financial instruments.

 PEMEX
Derivative Financial Instruments

As of December 31, As of September 30,

2016 2017 Change 2017
Derivative financial instruments linked to debt and assets (MXN million) (USD million)
Mark to market (MXN million) (11,829) 8,545 20,374 470
Interest rate swaps (901) 147 1,048 8.1
Cross currency swaps (10,859) 4,823 15,682 265
Currency options (69) 1,544 1,613 85
Currency swaps without notional exchange - 2,030 2,030 112

Face value (MXN million) 372,034 499,342 127,308 27,440

Interest rate swaps 37,562 31,005 (6,558) 1,704
Cross currency swaps 319,079 281,560 (37,519) 15,472
Currency options 15,393 104,312 88,919 5,732
Currency swaps without notional exchange - 82,465 82,465 4,532

Crude oil derivative financial instruments

Mark to market (MXN million) - 93.5 93.5 5
Crude options - 93.5 93.5 5
Volume (MM barrels) - 184.6 184.6 10.1
Crude options - 184.6 184.6 10.1

Natural gas derivative financial instruments

Mark to market (MXN million) 3.3 1.1 (2) 0.1
Long swaps 10.3 (4.0) (14) (0.2)
Short swaps - 7.1 5.1 12 0.3
Long options 7.8 1.3 (6) 0.1
Short options - 7.7 (1.3) 6 (0.1)
Volume (MMBtu)
Long swaps 3,060,124 1,233,587 (1,826,537) N.A.
Short swaps (3,060,124) (1,233,587) 1,826,537 N.A.
Long options 1,543,895 418,800 (1,125,095) N.A.
Short options (1,543,895) (418,800) 1,125,095 N.A.

Crude oil and petroleum products derivative financial instruments

classified as cash and cash equivalents for accounting purposes due to
high liquidity
Mark to market (MXN million) (278.0) (275.8) 2.2 (15.2)
Stock market futures 3.8 (74.2) (78.0) (4.1)
Stock market swaps (281.8) (201.6) 80.2 (11.1)
Net volume (MM barrels) (3.7) (3.1) 0.7 N.A.
Stock market futures 0 (1) (1) N.A.
Stock market futures (3.9) (2.1) 1.8 N.A.

Derivative financial instruments of PMI

Mark to market (MXN million)
Interest rate swaps OTC markets (92.0) (32.5) 59.5 (1.8)
Face value (MXN million)
Interest rate swaps OTC markets 1,779.7 1,443.4 (336.3) 79.3

Note: the fair value of the Derivative Financial Instruments has been adjusted in accordance with International Financial Reporting Standards (IFRS).
 PEMEX
Consolidated Statements of Cash Flows

As of September 30,
2016 2017 Change 2017
(MXN million) (USD million)
Operating activities
Net income (loss) (263,802) 18,908 -107.2% 282,710 1,039
Items related to investing activities 2,201 147,955 6623.5% 145,755 8,130
Depreciation and amortization 93,223 109,943 17.9% 16,720 6,042
Impairment of properties, plant and equipment (99,036) 36,481 -136.8% 135,517 2,005
Unsuccessful wells 24,713 4,258 -82.8% (20,455) 234
Retirement of property, plant and equipment 3,288 3,393 3.2% 105 186
Profit from acquisition of businesses (5,579) - -100.0% 5,579 -
Profit in the sale of associates (15,211) - -100.0% 15,211 -
Effects of non-consolidated subsidiaries and affiliates (734) (112) -84.7% 621 (6)
Dividend revenue (128) (181) 41.1% (53) (10)
Effects of net present value of reserve for well abandonment 1,664 (5,828) -450.3% (7,491) (320)
Activities related to financing activities 240,576 (89,963) -137.4% (330,539) (4,944)
Amortization of primes, discounts, profits and debt issuance
(876) (2,160) 146.6% (1,284) (119)
expenses
Interest expense (income) 68,811 76,971 11.9% 8,160 4,230
Unrealized loss (gain) from foreign exchange fluctuations 172,641 (164,773) -195.4% (337,414) (9,055)
Subtotal (21,025) 76,900 -465.8% 97,926 4,226
Funds provided by (used in) operating activities (48,242) (77,289) 60.2% (29,047) (4,247)
Financial instruments for negotiation (13,782) (34,617) 151.2% (20,836) (1,902)
Accounts and notes receivable (40,686) (13,405) -67.1% 27,281 (737)
Inventories (526) (11,724) 2128.4% (11,197) (644)
Long term accounts and notes receivable - (4,021) #DIV/0! (4,021) (221)
Intangible assets - 95 #DIV/0! 95 5
Other assets (4,896) (5,419) 10.7% (523) (298)
Accounts payable and accrued expenses 7,930 5,760 -27.4% (2,170) 317
Taxes paid (5,289) 7,527 -242.3% 12,816 414
Suppliers (43,360) (57,873) 33.5% (14,513) (3,180)
Reserve for diverse credits 5,178 (10,338) -299.7% (15,515) (568)
Reserve for employees benefits 48,019 43,601 -9.2% (4,418) 2,396
Deferred taxes (829) 3,126 -476.9% 3,955 172
Net cash flow from operating activities (69,267) (388) -99.4% 68,879 (21)
Investing activities
Acquisition of property, plant and equipment (90,874) (43,781) -51.8% 47,093 (2,406)
Exploration expenses (15,015) (1,005) -93.3% 14,010 (55)
Resources from divestment of financial assets - 684 684 38
Resources from divestment of fixed assets 22,685 - -100.0% (22,685) -
Acquisition of businesses (3,909) - -100.0% 3,909 -
Net cash flow from investing activities (87,113) (44,102) -49.4% 43,011 (2,423)
Cash needs related to financing activities (156,380) (44,490) -71.5% 111,890 (2,445)
Financing activities
Increase of contributions from the Federal Government 73,500.0 - (73,500.0) -
Loans obtained from financial institutions 556,476 540,761 -2.8% (15,715) 29,716
Amortization of loans (317,463) (424,657) 33.8% (107,195) (23,336)
 PEMEX
EBITDA Reconciliation

Third quarter (Jul.-Sep.) Nine months ending Sep. 30,

2016 2017 Change 2017 2016 2017 Change 2017
(MXN million) (USD million) (MXN million) (USD million)
Net loss (118,323) (101,808) 14.0% 16,516 (5,594)
### (263,802) 18,908 107.2% 282,710 1,039
+ Taxes and duties 87,442 83,932 -4.0% (3,510) 4,612### 220,523 289,058 31.1% 68,536 15,884
- Total interest expense (25,664) (27,358) -6.6% (1,694) (1,503)
### (68,811) (76,971) -11.9% (8,160) (4,230)
- Total interest income 2,408 4,452 84.9% 2,045 245### 6,637 11,754 77.1% 5,117 646
- Income (cost) due to financial derivatives 4,839 4,649 -3.9% (189) 255### 2,843 24,982 778.7% 22,139 1,373
- Foreign exchange fluctuation (52,183) (28,426) 45.5% 23,757 (1,562)
### (178,142) 174,237 197.8% 352,379 9,575
+ Depreciation and amortization 29,302 36,520 24.6% 7,218 2,007### 93,223 109,943 17.9% 16,720 6,042
+ Net cost for the period of employee benefits 29,233 29,518 1.0% 285 1,622### 87,707 88,556 1.0% 849 4,866
EBITDA 98,255 94,845 -3.5% (3,410) 5,212### 375,123 372,463 -0.7% (2,660) 20,467
 PEMEX
Business Segment Information

Petróleos
Exploration and Commercial Mexicanos and Intersegment
Production entities Subsidiary eliminations
Companies

Nine months ending Sep. 30, 2017

Total sales 550,818 725,356 60,761 (1,135,649)
External clients - 348,691 2,380 -
Intersegment 550,818 376,103 54,263 (1,134,971)
Revenues from services - 562 4,118 (678)
Cost of sales 308,404 715,259 23,391 (1,093,904)
Gross income (loss) 242,415 10,098 37,370 (41,745)
Other revenues (expenses) 14,760 548 (3,220) (335)
Transportation and distribution expenses - 271 40 (4,964)
Administrative expenses 43,796 1,170 45,585 (37,096)
Operating income (loss) 213,379 9,205 (11,475) (19)
Total interest expense (92,824) (863) (176,341) 195,767
Total interest income 91,263 674 106,117 (195,836)
Income (cost) due to financial derivatives 1,936 (202) 23,246 (0)
Foreign exchange profit (loss) 148,164 (32) 13,199 -
Profit sharing in non-consolidated (60) 8 63,697 (63,551)
Taxes and duties 284,118 1,333 241 -
Net income (loss) 77,740 7,456 18,202 (63,639)
- - - -
Impairment of assets 41,276 - - -
Depreciation and amortization 88,486 (36) 1,485 -
Net cost of the period for employee benefits 26,383 29 20,005 -

As of September 30, 2017

Total assets 2,096,036 146,538 2,256,606 (3,269,982)
Current assets 1,000,235 118,747 512,507 (1,776,807)
Investment in securities of associated companies 80 15,796 (197,193) 198,892
 Property, plant and equipment 1,058,578 6,186 35,535 -
Total liabilities 2,378,541 79,117 3,445,506 (3,468,875)
Current liabilities 244,752 73,043 1,442,391 (1,773,230)
Long-term liabilities 2,133,788 6,073 2,003,115 (1,695,645)
Long-term debt 1,684,944 2,666 1,695,582 (1,684,780)
Employee benefits 375,465 (693) 291,165 -
Equity (282,505) 67,422 (1,188,900) 198,892

Nine months ending Sep. 30, 2016

Total sales 440,328 550,320 56,007 (926,530)
External clients - 272,766 2,047 (29,335)
Intersegment 440,328 276,688 3,719 (762,044)
Revenues from services - 865 50,241 (135,152)
Cost of sales 250,380 534,202 7,480 (893,547)
Gross income (loss) 189,948 16,118 48,527 (32,983)
Other revenues (expenses) (1,453) 1,321 5,445 (2,928)
Transportation and distribution expenses - 383 42 (1,820)
Administrative expenses 30,826 1,423 42,040 (34,826)
Operating income (loss) 157,669 15,634 11,889 735
Total interest expense (80,072) (1,012) (112,708) 130,976
Total interest income 37,455 844 89,647 (131,674)
Income (cost) due to financial derivatives - (1,234) 4,075 0
Foreign exchange profit (loss) (150,843) 207 (15,240) -
Profit sharing in non-consolidated 4 1,107 (237,029) 236,645
Taxes and duties 209,817 5,914 (445) -
Net income (loss) (245,605) 9,632 (258,921) 236,683
Depreciation and amortization 77,386 66 1,276 -
Net cost of the period for employee benefits 26,189 53 19,436 -

As of December 31, 2016

Total assets 2,206,419 155,377 2,359,024 (3,692,479)
Current assets 983,261 125,082 611,464 (2,195,696)
Investment in securities of associated companies 140 17,569 (244,933) 250,122
Property, plant and equipment 1,176,504 6,692 37,537 -
Total liabilities 2,533,222 86,886 3,553,477 (3,942,600)
Current liabilities 340,011 78,894 1,497,613 (2,187,863)
 Long-term liabilities 2,193,210 7,991 2,055,864 (1,754,738)
Long-term debt 1,737,109 3,598 1,757,316 (1,739,385)
Employee benefits 362,312 (750) 282,322 -
Equity (326,803) 68,491 (1,194,453) 250,122

(1) Began operations in June 2015

(2) Began operations in September 2015
(3) Began operations in October 2015
(4) Began operations in November 2015