Petróleos Mexicanos presents its consolidated financial statements, audited by independent registered public accounting firms, under International Financial Reporting Standards (IFRS) since 2012.
Beginning with the fiscal year starting January 1, 2012, Mexican companies with securities registered at the
Registro Nacional de Valores (National Securities Registry) of the Comisión Nacional Bancaria y de Valores
(National Banking and Securities Commission, CNBV) are required to prepare financial
statements in accordance with International Financial Reporting Standards as issued by the International Accounting
Standards Board. In addition, these financial statements must be audited in
accordance with the International Standards on Auditing, as required by the CNBV, and in accordance with the
standards of the Public Company Accounting Oversight Board (PCAOB) (United States) for purposes of filings with
the U.S. Securities and Exchange Commission, or SEC.