FIBRA-E FIDEAL 20 is a trust created on April 7, 2020, issuer of energetic and infrastructure fiduciary bonds (Fibra-E), which main purpose is to invest in shares or equity interest’s representative of the capital stock of any Mexican legal entity, resident in Mexico for tax purposes, which match the requirements set forth in the Tax Provisions regarding Fibra-E, that may be applicable from time to time.

The Fibra-E scheme allows public and private companies to receive investments and/or monetize their equity participation in energy and infrastructure projects and/or assets, as well as to take advantage of certain tax benefits that the Federal Government grants to the trusts and the Eligible Companies that participate under the Fibra-E scheme when they comply with the requirements set forth in the Tax Provisions, in order to encourage investment in the energy and infrastructure sectors. In this sense, Fibra-E represents an additional source of capital with competitive cost, tax advantages, and captures the manager’s value in generating monetary worth through performance distributions.

FIDEAL 20’s equity consists of shares representatives of the capital stock of concessionary companies of Vías Troncales, CFC, ATM, and Arco Norte Concessions. The concessioned roads are strategically located and interconnect areas with densely populated cities and highway systems of nationally and internationally commercial relevance. Likewise, these concessioned roads are axes for communication areas with a high and stable flow of highway vehicles. Economic development, urban modernization, demographic growth, and increased commercial activity are fundamental characteristics supporting the Concessionaires’ solid creation of monetary value.

Vías Troncales Concession

The Chamapa-La Venta Highway and its Interlomas annex has a total length of 10.8 kilometers, and is located in the west of Mexico City, connecting the cities of Naucalpan and Huixquilucan in the State of Mexico. The highway has been fully operational since February 1992.

CFC Concession

Libramiento Nor-Oriente de Toluca Beltway has a total length of 30 kilometers and is located in the municipalities of Lerma, Toluca, Otzolotepec, Xonacatlán, Temoaya and Almoloya de Juárez in the State of Mexico. This highway represents a shorter and safer route between Mexico City and the Atlacomulco-Zapotlanejo Highway, which operates as a beltway for Toluca. The highway has been fully operational since September 2007.

ATM Concession

The 29.8-kilometer Tijuana-Mexicali Highway, in the State of Baja California, connects important highways, including the El Hongo-Rumorosa-Mexicali Highway, the Tecate-Ensenada Toll-free Highway, and the Tijuana and Mexicali International Bridges. The highway has been fully operational since October 1994.

Arco Norte Concession

The 223-kilometer Arco Norte Highway in Mexico City serves as an urban beltway for the Metropolitan Area of the Valley of Mexico, connecting four states: Puebla, Tlaxcala, Hidalgo, and the State of Mexico, avoiding to get through Mexico City. It crosses the Mexico-Querétaro, Mexico-Pachuca, Mexico-Tulancingo, Mexico-Puebla and the Texcoco-Apizaco Highway, among others. The highway has been fully operational since May 2011.

Administration

 

FIDEAL 20’s administrator is Promotora del Desarrollo de America Latina, S.A. de C.V. (Promotora IDEAL or “PDAL”); which is an IDEAL’s indirect subsidiary, and, by the number of kilometers they have under concession, is one of the leader companies in the operation and administration of toll highways in Mexico.

It currently owns a portfolio of 12 concessions as for the operation and administration of toll highways in Mexico. The Administrator has a robust corporate governance practices and an experienced management team.

Within the obligations of the Administration are the management activities related with the shares or partnership interests of the Eligible Companies and their assets, the infrastructure asset management activities, human resources activities, investments, divestments, distributions, loan contracts, as well as the exercise of all rights regarding the interests of the Trust, among others.

Technical Committee

One of FIBRA-E’s internal control measures is the Technical Committee, which performs by the following functions:

 

– Verify the Administrator’s performance.

– Review the Performance Report submitted quarterly by the Administrator.

– Supervise the compliance of the Trustee to its obligations under the Trust Agreement.

– Approve any appointment and/or removal of the External Auditor.

– Establish the methods and internal controls which ensure the status of the assets that are part of the Trust Estate.

 

The Trust’s Technical Committee is constituted by 5 Principal Independent Members and 3 Principal Members:

Gerardo Camargo Robles– Independent Regular Member

He earned a bachelor’s degree from the Autonomous Technological Institute of Mexico (Instituto Tecnológico Autónomo de México – ITAM). He previously served as an Independent Director of Banco Invex, S.A., Institución de Banca Múltiple, and Invex Financial Group. He currently serves as Deputy Director of Equity Research at Grupo Financiero Inbursa, S.A.B. de C.V.

 

 

Luis Roberto Frías Humphrey - Independent Regular Member

He holds a degree in Industrial Engineering from Universidad Iberoamericana. He previously served as an Independent Director of Banco Invex, S.A., Institución de Banca Múltiple, and Invex Financial Group. He currently serves as Director of Corporate and International Banking at Sofom Inbursa, S.A. de C.V., SOFOM, E.R., Grupo Financiero Inbursa, a position he has held since April 26, 2002.

 

 

Arturo Spinola García – Independent Regular Member

He serves as Chief Financial Officer and Chief Administrative Officer of Grupo Condumex, S.A. de C.V., and as Chief Financial Officer and Chief Administrative Officer of Carso Infraestructura y Construcción, S.A. de C.V. (both subsidiaries of Grupo Carso, S.A.B. de C.V.).

 

 

Juan Ramón Lecuone Valenzuela – Independent Regular Member

He holds a degree in Economics from Universidad Anáhuac and completed graduate and doctoral studies in Economics at Cornell University in Ithaca, New York, with a specialization in economic theory, econometrics, and mathematical demography. He is a member of several professional associations, including the National Association of Business Economics. He previously served as Dean of the School of Economics and Business at Universidad Anáhuac México and currently serves as an advisor and member of the boards of directors of various institutions and companies.

Jeanett Vanessa Coronado Méndez – Independent Regular Member

She holds a degree in Industrial and Systems Engineering from the Monterrey Institute of Technology and Higher Education (ITESM) and a master’s degree in Global Business Administration from Thunderbird School of Global Management and Tecnológico de Monterrey. She is an executive with more than 15 years of experience in financial planning and analysis, pricing, mergers and acquisitions, divestitures, business development, and management control of various companies within General Electric. She currently serves as Chief Financial Officer of Impulsora del Desarrollo y el Empleo en América Latina, S.A.B. de C.V.

 

 

Carlos Facha Lara – Regular Member

Was born in Mexico City on March 21, 1972. He holds a law degree from Universidad Iberoamericana. For more than 27 years, he has served as an officer, director, member, and Secretary of the boards of directors of various subsidiaries and affiliates of Grupo Carso, including Grupo Financiero Inbursa, Minera Frisco, S.A.B. de C.V., and Impulsora del Desarrollo y el Empleo en América Latina, S.A.B. de C.V. (IDEAL).

Since the Company’s incorporation, he has served as Chief Legal Officer and Secretary of the Board of Directors and, since 2020, as Chief Legal Executive Officer, additionally assuming responsibility for the ESG and Corporate Communications functions.

Mara Pamela Mújica Ramos – Regular Member

She holds a law degree from Universidad Panamericana. She serves as Chief Legal Officer of IDEAL and has more than 15 years of professional experience. She has served as Assistant Secretary of the Board of Directors of Minera Frisco, S.A.B. de C.V. Previously, she served as Legal Manager at Grupo Financiero Inbursa.

Alfonso González Migoya – Regular Member

He holds a degree in Electromechanical Engineering from Tecnológico de Monterrey (ITESM) and an MBA from the Stanford University Graduate School of Business. He has served as a member of the boards of directors of FEMSA, Coca-Cola FEMSA, the Mexican Stock Exchange (Bolsa Mexicana de Valores), Grupo Industrial Saltillo (GISSA), Banco Regional de Monterrey (Banregio), Berel, and Universidad de Monterrey, among others. Previously, Mr. González served as Chairman of the Board of Directors and Chief Executive Officer of Grupo Industrial Saltillo, Chief Executive Officer of Servicios Interpuerto Monterrey, held various senior executive positions within Grupo ALFA, and served as Executive Vice President and Chief Financial Officer of Grupo Financiero BBVA Bancomer. He also worked for 24 years at Grupo CYDSA, where he held, among other positions, the roles of Corporate Finance Director and Chief Executive Officer of the Chemical Division.

 

 

Financial Information