Petroleos Mexicanos (PEMEX) investor relations material

Executive summary

• Achieved strong operational and financial results in 2Q26, with increased hydrocarbon production and processing volumes despite global energy market volatility.

• Sales revenue rose 30.3% year-over-year to MXN 510–510.4 billion, with operating income at MXN 85–85.5 billion and net income at MXN 18 billion.

• Maintained focus on operational efficiency, financial discipline, and strategic partnerships, including a MoU with Petrobras for technical cooperation in exploration, production, and emissions reduction.

• Financial debt declined by 9–11.6% from 2025, reaching USD 77.5–78 billion, reducing near-term refinancing pressure.

• Advanced financial objectives, reduced debt, and maintained operational continuity across all segments.

Financial highlights

• Revenue reached MXN 510–510.4 billion, up 30.3–40% year-over-year, marking the highest level in 14 quarters.

• EBITDA rose to MXN 134–144.2 billion, up 22–89.9% year-over-year, with a margin of 28–32%.

• Operating income was MXN 85–85.5 billion, reversing a prior year loss.

• Net income totaled MXN 18 billion for the quarter, down from MXN 59.5 billion in 2Q25 due to higher taxes and lower FX gains.

• Total debt reduced by 9–11.6% to USD 77.5–78 billion; short-term debt down 36–36.5% from year-end 2025.

Outlook and guidance

• Favorable legal framework supports new partnerships and capital optimization.

• Commitment to net zero indebtedness and continued financial discipline.

• No additional government support expected for the remainder of 2026; budgeted resources will be allocated to debt payments.

• Market fundamentals indicate robust refining margins through the rest of 2026.

• Continued focus on increasing hydrocarbon extraction, refinery processing, and investment in new field development and rehabilitation.