THE REPRESENTATIVES OF THE NATIONAL MINIMUM WAGE COMMISSION UNANIMOUSLY VOTED TO INCREASE THE CURRENT MINIMUN WAGE IN MEXICO.

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THE REPRESENTATIVES OF THE NATIONAL MINIMUM WAGE COMMISSION UNANIMOUSLY VOTED TO INCREASE THE CURRENT MINIMUN WAGE IN MEXICO.

On November 21^st, the National Minimum Wage Commission (known in Mexico as “CONASAMI”) released through an informative note that in performance of its duties and authority, it had revised the current minimum wage in Mexico.

The representatives of the National Minimum Wage Commission analyzed the convenience to continue to apply the “Monto Independiente de Recuperación” (roughly translated “Independent Recovery Amount” known as MIR) to increase the minimum wage.

Therefore, the representatives of the National Minimum Wage Commission unanimously resolved to increase the current minimum wage to $88.36 pesos, as of December 1^st, 2017.

The increase agreed by the representatives of the National Minimum Wage Commission is the result of adding $5.00 pesos to the current minimum wage of $80.04 for “Monto Independiente de Recuperación” (MIR), and over this new amount ($85.04 pesos), implement in advance the increase of 3.9% corresponding to 2018.

Based on the foregoing, the minimum wage for 2018 will be of $88.36 pesos as of December 1^st, 2017.

The increase of 3.9% will also be applicable to the minimum wages determined for the rest of the professions.

SINCERELY

Mexico City, November 22^nd, 2017