Investor Presentation

April 2012

Forward-Looking Statement and Cautionary

Note (1/3)

2

Variations

If no further specification is included, changes are made against the same period of the last year.

Rounding

Numbers may not total due to rounding.

Financial Information

Excluding (i) budgetary ,(ii) volumetric, (iii) revenue from sales and services including IEPS, (iv) domestic sales

including IEPS, (v) petroleum products sales including IEPS, and (vi) operating income including IEPS information,

the financial information included in this report is based on unaudited consolidated financial statements prepared in

accordance with Normas de Informacion Financiera (Mexican Financial Reporting Standards, FRS) -formerly Mexican

GAAP- issued by the Consejo Mexicano de Normas de Información Financiera (CINIF).

— Based on FRS B-10 "Inflation effects", 2010 and 2011 amounts are expressed in nominal terms.

— Based on FRS B-3 "Income Statement‖ and FRS ―C-10‖ Derivative Financial Instruments and Hedging

Transactions‖, the financial income and cost of the Comprehensive Financial Result include the effect of financial

derivatives.

— The EBITDA is a non-U.S. GAAP and non-FRS measure issued by CINIF.

Budgetary information is based on standards from Mexican governmental accounting; therefore, it does not include

information from the subsidiary companies of Petróleos Mexicanos.

Foreign Exchange Conversions

Unless otherwise specified, convenience translations into U.S. dollars of amounts in Mexican pesos have been made

at the established exchange rate, at December 31, 2011, of Ps. 13.9904 = U.S.$1.00. Such translations should not be

construed as a representation that the peso amounts have been or could be converted into U.S. dollars at the

foregoing or any other rate.

Forward-Looking Statement and Cautionary

Note (2/3)

3

Fiscal Regime

Since January 1, 2006, PEMEX has been subject to a new fiscal regime. Pemex-Exploration and Production’s (PEP) tax regime

is governed by the Federal Duties Law, while the tax regimes of the other Subsidiary Entities continue to be governed by

Mexico’s Income Tax Law. The most important duty paid by PEP is the Ordinary Hydrocarbons Duty (OHD), the tax base of

which is a quasi operating profit. In addition to the payment of the OHD, PEP is required to pay other duties.

Under PEMEX’s current fiscal regime, the Special Tax on Production and Services (IEPS) applicable to gasoline and diesel is

regulated under the Federal Income Law. PEMEX is an intermediary between the Secretary of Finance and Public Credit

(SHCP) and the final consumer; PEMEX retains the amount of IEPS and transfers it to the Federal Government. The IEPS rate is

calculated as the difference between the retail or ―final price‖, and the ―producer price‖. The final prices of gasoline and

diesel are established by the SHCP. PEMEX’s producer price is calculated in reference to that of an efficient refinery

operating in the Gulf of Mexico. Since 2006, if the final price is lower than the producer price, the SHCP credits to PEMEX the

difference among them. The IEPS credit amount is accrued, whereas the information generally presented by the SHCP is cash-

flow.

Hydrocarbon Reserves

Pursuant to Article 10 of the Regulatory Law to Article 27 of the Political Constitution of the United Mexican States

Concerning Petroleum Affairs, Pemex-Exploration and Production’s hydrocarbon reserves estimates as of January 1, 2012,

were reviewed by the National Hydrocarbons Commission (which we refer to as the NHC). The NHC approved our hydrocarbon

reserves estimates on February 24, 2012. The registration and publication by the Ministry of Energy, as provided in Article 33,

paragraph XX of the Organic Law of the Federal Public Administration, is still pending.

As of January 1, 2010, the SEC changed its rules to permit oil and gas companies, in their filings with the SEC, to disclose not

only proved reserves, but also probable reserves and possible reserves. In addition, we do not necessarily mean that the

probable or possible reserves described herein meet the recoverability thresholds established by the SEC in its new

definitions. Investors are urged to consider closely the disclosure in our Form 20-F and our annual report to the Mexican

Banking and Securities Commission (CNBV), available at http://www.pemex.com/.

4

Bids

Only results from bids occurred between January 1 and March 31, 2011 are included. For further information, please access

www.compranet.gob.mx.

Forward-looking Statements

This report contains forward-looking statements. We may also make written or oral forward-looking statements in our periodic

reports to the CNBV and the SEC, in our annual reports, in our offering circulars and prospectuses, in press releases and other

written materials and in oral statements made by our officers, directors or employees to third parties. We may include

forward-looking statements that address, among other things, our:

— drilling and other exploration activities;

— import and export activities;

— projected and targeted capital expenditures; costs; commitments; revenues; liquidity, etc.

Actual results could differ materially from those projected in such forward-looking statements as a result of various factors

that may be beyond our control. These factors include, but are not limited to:

— changes in international crude oil and natural gas prices;

— effects on us from competition;

— limitations on our access to sources of financing on competitive terms;

— significant economic or political developments in Mexico;

— developments affecting the energy sector; and

— changes in our regulatory environment.

Accordingly, you should not place undue reliance on these forward-looking statements. In any event, these statements speak

only as of their dates, and we undertake no obligation to update or revise any of them, whether as a result of new

information, future events or otherwise. These risks and uncertainties are more fully detailed in PEMEX’s most recent Form

20-F filing with the SEC (www.sec.gov), and the PEMEX prospectus filed with the CNBV and available through the Mexican

Stock Exchange (www.bmv.com.mx). These factors could cause actual results to differ materially from those contained in any

forward-looking statement.

PEMEX

PEMEX is Mexico’s national oil and gas company. Created in 1938, it is the exclusive producer of Mexico’s oil and gas

resources. The operating subsidiary entities are Pemex-Exploration and Production, Pemex-Refining, Pemex-Gas and Basic

Petrochemicals and Pemex-Petrochemicals. Its principal subsidiary company is PMI.

Forward-Looking Statement and Cautionary

Note (3/3)

5

Content

Achievements Challenges Results

6

Achievements

• Stabilization of Production

•Diversified projects

• Increase Reserve Replacement

Rate

•New Business Models in place

• Improved Exploitation Strategy at

ATG/Chicontepec

•New E&P Integrated Contracts

• Improvement of purchasing

Processes

• Sustainability and Environmental

Protection

2008

Reform

Business

Plan

Operational

Program

Investment

Program

7

Production Aligned to Goals

Significant operational efforts have been made to

stabilize production

Mbd

2,607 2,578 2,567 2,552 2,572 2,558 2,525 2,547

2,560 2,500 2,550

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 2012

2010 2011 PEF 2010 PEF 2011

E E

Note: ―E‖ stands for estimated

Cantarell declines according to plan,

partially offset by other fields

0

500

1,000

1,500

2,000

2,500

1997 1999 2001 2003 2005 2007 2009 2011

Forecast Actual

Production w/o Cantarell

Cantarell CAGR1:7.9%

Mbd

(1) Compounded Annual Growth Rate

Note: Mexico´s CAGR 2005-2011 is -4.4%

Source: Purvin & Gertz 2005-2011 8

9

Exploitation Investment

-

40,000

80,000

120,000

160,000

200,000

240,000

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

Cantarell vs. Other

Projects

From 2006 to 2011,

Cantarell

represented about

21% of total

exploitation

investment.

In 2011, Cantarell

represented about

19.6% of total

exploitation

investment.

Delta del

Grijalva

AJB

CLM

ATG

Burgos

KMZ

Cantarell

Other

Projects

Million Pesos

10

Exploration and Drilling Efforts

Petrobras is by far the most active

DW driller

The top four companies by scale

(XOM, Shell, BP and CVX) have very

similar levels of DW drilling activity

and average spend per well, with

Shell marginally edging it in terms

of experience and cost

Of the top six DW explorers for

spend per well five of them

(Maersk, Marathon, BG, Repsol and

Statoil) lack operated experience,

the other, Anadarko, has historically

had a high proportion of frontier DW

areas where up front and drilling

costs would be expected to be high

Nexen, Noble and Apache all have

limited DW drilling experience, but

this has not inhibited their ability to

deliver strong performance where

they have been active e.g. Noble in

Israel and Apache in Egypt

Wells drilled onshore,

offshore and deepwaters

-

100

200

300

400

500

600

700

Pem

ex

PBR

APA

RD

S

EN

I

RY

PN

S

CVX

BP

STO

XO

M

TO

T

CO

P

HES

AN

A

MU

R

BG

NXN

BH

P

MRO

NBL

MAE

Onshore Shelf Deepwater

Period of analysis 2000-2009

No.

Explo

rato

in W

ells

Dri

lled

PEP: Petroleos Mexicanos

PBR: Petroleo Brasileiro SA

APA: Apache Corporation

RDS: Royal Dutch Shell

ENI: Ente Nazionale Idrocarburi

RY: Repsol YPF

PNS: PNS Petroleum Inc

CVX: Chevron Corporation

BP: British Petroleum

STO: Statoil

XOM: Exxon Corporation

TOT: Total

COP: ConocoPhilips

HES: Hess Corporation

ANA: Anadako Petroleum

Corporation

MUR: Murphy Oil Corporation

BG: BG Group PLC.

NXN: Nexen Inc.

BHP: BHP Billiton

MRO: Marathon Oil

Corporation

NBL: Noble Energy Inc.

MAE: MAE Petroleum LLC

Source: Wood Mackenzie Exploration Service – August 2010.

11

Sustained Increase of the Reserve

Replacement Rate

22.7% 26.4% 41.0%

50.3%

71.8% 77.1% 85.8%

101.1% 56.9% 59.2% 59.7% 65.7%

102.1%

128.7%

103.9% 107.6%

0%

20%

40%

60%

80%

100%

120%

140%

2005 2006 2007 2008 2009 2010 2011 2012

1P 3P

The 100% 1P Reserve

Replacement Rate

Goal was reached a

year in advance.

1.5 1.3 1.4

2.4 2.3 2.0

2.2 2.4

2005 2006 2007 2008 2009 2010 2011 2012 E

Exploration CAPEX U.S.$Billion

―E‖ stands for estimated.

Reserves Replacement Rate

Reserves Evolution

Note: Numbers may not total due to rounding.

Since 2002 Pemex Exploration and Production has utilized the SEC proved reserves definition

Reserves as of January 1 of Each Year

Billion barrels of crude oil equivalent (MMMboe)

23.5 21.9 20.1 18.9 17.6 16.5 15.5 14.7 14.3 14.0 13.796 13.810

21.3 20.817.0 16.0 15.8 15.8 15.3 15.1 14.5 14.2 15.0 12.4

11.310.3

13.013.1 13.4 14.2 14.6 14.6 14.7 14.8 14.3 17.7

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

56.2 53.0

50.0 48.0 46.9 46.4 43.1

45.4 44.5 43.6

13.796

28.8

43.1

20.1

37.0

50.0

18.9

34.9

48.0

17.6

33.5

46.9

16.5

32.3

46.4

15.5

30.8

45.4

14.7

29.9

44.5

14.3

28.8

43.6

14.0

28.2

43.1

43.1

13.810

26.2

43.8

43.8

1P Reserves:

2P Reserves:

3P Reserves:

Possible

Probable

Proved

12

13

Main Discoveries 2006-2011

3P Reserves

(Million barrels of oil equivalent)

1,137.9

836.0

756.4

596.1

375.9

323.1

268.5

233.6

180.9

138.9

138.8

134.0

132.9

118.5

111.7

104.0

Tsimin

Xux

Kayab

Ayatsil

Pit

Bricol

Lakach

Kinbe…

Piklis

Lalail

Kuil

Terra

Tekel

Homol

Pareto

Utsil

Kinbe

Located in the Gulf of México, 22 meters

water depth

Initial production of 4,800 bd of 37°API

crude oil

Pareto

Main discovery in the South Region

Initial production of 4,000 barrels per day

of 43° API crude oil

Emergente (Shale Gas)

First discovery in Shale gas

Estimated 3P reserves of 112 Bcf of gas

3 wells are in the process of completion:

Montañes-1, Nómada-1 and Percutor-1

Main discoveries 2011

Heavy oil

Light oil

Gas

0

10

20

30

40

50

60

70

Crudo pesado Crudo ligero

14

Improved Exploitation Strategy at

ATG/Chicontepec

Sector 1

Sector 2

Sector 3

Sector 4 Sector 5

Sector 6

Sector 7

Sector 8

Agua Fría

Presidente Alemán

Remolino

Coralillo

Coyotes

5 Field Labs

Field Laboratories

Other Activities

Focused on value creation

Improved well

productivity

Enhanced recovery

Cost reduction

Managed declination

65,858

44,803

47%

The latest exploitation

strategy implemented in

ATG, has been the most

successful

Original

Volume

(MMboe)

1,439 109 6.8

657 37

6.7

320 52

-

Carrizo Santuario Magallanes

Reserves

3P

(MMboe)

Current

Production

(Mbd)

2,416 198 13.6

15

New Business Models – Upstream

Successful 1st Round: Southern Region

PEMEX is partnering with the winning companies to

complement its capabilities.

Mature Fields – Southern Region

Field Company Max. Rate

US$/b

Offered Rate

US$/b

Min. Investment

US$MM

Magallanes Petrofac Facilities Mngt. Ltd. 9.78 5.01 205.5

Santuario Petrofac Facilities Mngt. Ltd. 7.97 5.01 116.9

Carrizo Dowell Schlumberger 12.31 9.40 33.3

Approximate incremental

production of 55 Mbd

16

New Business Models - Downstream

Refine Mexican heavy crude

oil and increase gasoline

supply to Mexico

1993

Increase production of vinyl

chloride

1. Joint Venture

2. Fixed assets

3. Supply of raw materials

2012 (to be confirmed)

Deer Park PEMEX – Mexichem

1. Joint Venture

2. Crude supply

Project

Partner

PEMEX’s

Participation

Objective

Start Up

• Comprehensive

analysis of supply

and demand

• Short, medium and

long term

execution strategy

• New legal

framework

• Greater negotiation

power

• Recognize and seize

market opportunities

• Better contracting terms

and conditions

• Significant savings

17

Improved Purchase and Acquisitions’

Processes (1/2)

18

Financial Lease Cash

Purchase

Savings1

25%

Improved Purchase and Acquisitions’

Processes (2/2)

Average

Consumption

185 to 200

MTA2

(1) Expected

(2) Thousand Tons Per Annum

New Contract

Design

Savings1

MMPs. 465

VS

Traditional

Rent

New Contract

Design

Financial Lease

Savings1

18% - 20%

Savings1

35% Platforms

Drilling pipe

Fleet

19

Sustainability and Environmental

Protection

Cogeneration

=

CO2 Reduction

=

Additional Income

Nuevo Pemex

CPQ. Morelos

CPQ. Cangrejera

900 MTCO2 e/year

= US$MM5.6

430 MTCO2 e/year =

US$MM2.6

410 MTCO2 e/year

= US$MM2.6

15.6 14.9 13.9 13.6

25.6 21.8

17.9 13.8

6.6 7

7.1 6.7

7 6.5

6.6

6.3

2008 2009 2010 2011*

PPQ PGPB PEP PREF

Accumulated CO2 emission

mitigation goal1 from 2009 –

2012 = 9.94 MMton

54.8 50.2

45.5

40.4

CO2 Emissions (MMton)

PEMEX Total CO2 emission

mitigation from 2009 to

2011* = 14.4 MMton

-26%

(1) Source: PECC.

(*) Estimated.

20

Content

Achievements Challenges Results

21

Challenges

• Crude Oil

Production

Levels

• Operational and

Technological

Improvements

• Stronger

Operational

Processes

Production

Growth

Upgrades and

Expansion of

Installed Capacity

New Rounds of

Integrated

Contracts

Shale

Resources

New Exploration

and Maintenance

Functions

Deep Waters

Operational

Improvements

22

Increase Production: Crude Oil

Mbd

Exploration

45 - 50

Ku-Maloob-Zaap

20 - 30

Aceite Terciario del Golfo

15 – 20

Integrated Contracts 50 - 60

Incremental

Production for 2014

Range(Mbd)

Ku-Maloob-Zaap

ATG Cantarell

Explotación

(Excluding, Aceite Terciario del Golfo y

Ku-Maloob-Zaap)

1

3

2

4

5

0

500

1,000

1,500

2,000

2,500

3,000

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

Ku-Maloob-

Zaap

ATG Cantarell

Exploitation

(Excluding, Aceite Terciario del Golfo

and Ku-Maloob-Zaap)

ATG

integrated

contracts

Ayatsil

Tekel

Tsimin

Xux

Integrated

contracts

Exploration

Strategy for Shallow Waters and Onshore

Regions

Prospective resources (22,608 MMboe)

8,091

5,055

1,931

3,838

3,099

594

CSM CST CTM

11,929

8,154

2,525

Cuenca

Tampico-Misantla

Cuencas

del Sureste

Light Crude Oil

Heavy Crude Oil

Locations and opportunities

Plays

The strategy will be focused on the

Southeastern Basins, including both the

marine and onshore portions:

Execute activities to identify the

continuity of established plays such as

the Cretaceous play

Increase the activity to identify Tertiary

plays for oil resources

Potential evaluation of pre and sub- salt

plays

Additionally, exploration will be reactivated

at the Tampico-Misantla Basin with the aim

of finding oil opportunities in the Mesozoic-

age plays

Tampico-Misantla

basin

Southeast on-shore

basin Southeast marine

basin

23

Original

Volume(1)

(MMboe)

125 11 1.0

11,071 50 2.5

1,059

6 1.8

1,771

31

1.4

1,506

100

5.6

603 26

-

Atún Arenque San Andrés

Tierra Blanca Pánuco Altamira

Reserves

3P

(MMboe)

Current

Production

(Mbd)

16,135 224 12.3

24

2nd Round: Mature Fields Northern Region

22 fields in 6 blocks in Mexico’s Northern Region.

The Contracts were approved by the Board of Directors on November 2011.

Prospective resources of approximately 1,672 MMboe along 6,691 km2.

Bid process expected by end of first half 2012 (1-H 2012).

The minimum investment per field between US$25 to US$50 million.

Mature Fields – Northern Region

Altamira

Pánuco

Arenque

Tierra

Blanca

San

Andrés

Atún

(1) Estimated.

Eagle Ford Shale Gas

• Texas

Cretaceous

Shale Gas

Jurassic

Shale Gas

Paleozoic

Shale Gas

Veracruz

Tampico

Misantla

Burgos

Sabinas

Burro Picachos

Chihuahua

Potential Shale Resources

Shale Gas Provinces

Eagle Ford/Agua Nueva

Haynesville

Bone Spring /Woodford

PEMEX has identified 5 geological provinces

with shale gas potential:

Chihuahua

Sabinas-Burro-Picachos

Burgos

Tampico-Misantla

Veracruz

PEMEX estimates prospective resources of

shale gas ranging from 150 to 459 TCF,

which represent from 2.5 to 7 times the

conventional 3P gas reserves of Mexico.

According to the EIA, Mexico’s shale gas

resources could reach 681 TCF, which is

ranked as the fourth largest reserve

worldwide .

PEMEX is evaluating Mexico’s shale gas

potential, in 2011 PEMEX concluded the

well Emergente-1, and it is in the process of

completing 3 additional wells.

An intensive development scenario shows

that gas production could triplicate to 20

bcf per day .

25

Activities in Deepwaters

Total investment 2002-2011: 49 billion pesos ~

3.6 billion USD

3D seismic acquisition: 107,762 km2

Wells Drilled: 19, 9 of which were producers

3P reserves discovered: 736 MMboe

Commercial success rate: 47%

PEMEX has established several collaboration agreements with Shell, BP, Petrobras, Intec,

Heerema, Pegasus, etc.

Currently PEMEX is operating three platforms in deep waters: Centenario, Bicentenario and

West Pegasus.

PEMEX has identified heavy and extra-heavy oil reservoirs into the southern portion of the

Salina del Istmo province.

!

!

!

!

!

!

!

!

! ! ! ! !

! !

!

!

!

!

!

Salina del Bravo Cinturón

Plegado Perdido

Salina del Istmo

Escarpe de Campeche

Cordilleras Mexicanas

Cinturón

Plegado

Catemaco

Abisal Golfo de México

Cinturón Subsalino

Oreos

Nancan

Jaca-patini

Temoa

Cinturón Plegado Perdido

Nox Hux

Holok

Lipax

Han

!

3D seismic

!

Talipau-1

Kunah-1

Hux-1

26

Benchmarking: Deepwater Drilling

Source: Wood Mackenzie Exploration Service

Wells

4

15

19

28

18

17

2

11

4

14

6

2

3

8

8

8

4

5

9

6

8

1

2

10

2

4

3

1

1

2

3

5

2

5

0 10 20 30 40 50 60 70

2006

2007

2008

2009

2010

2011 27

38

67

42

50

16

Water depth > 500 m

PEMEX has been ranked in the sixth position of deepwater activities (water depth greater than 500 meters) in the last six years, based on

operating rigs and wells drilled

The benchmark study takes into account wells drilled in West Africa, UK, Norway, Brazil and GOM (USA and Mexico). It is important to

note that BP and Shell do not report drilling activity in deepwater during 2011

Petrobras

Shell

Chevron

BP

Total

PEMEX

2006 2007 2008 2009 2010 2011

4

2

2

5

2

1

15

11

3

9

10

2

19

4

8

6

2

3

28

14

8

8

4

5

18

6

8

1

3

2

17

0

4

0

1

5

TOTAL

101

37

33

29

22

18

27

28

New Exploration and Maintenance

Functions

Function

Implementation,

coordination, design and

supervision of exploration

strategies in 5 zones:

— Southeastern Marine

Basin

— Southeastern Onshore

Basin

— Tampico-Misantla-Gulf

— Northern Deep Waters

— Southern Deep Waters

Goals

Improve the execution

strategy in exploration.

Comply with institutional

goals in potential

evaluation projects and

reserves incorporation.

Function

Consolidation of

maintenance and logistics

of the marine and onshore

facilities.

Goals

Guarantee prompt

attention to maintenance

and logistics requirements.

Maximize facilities

reliability and collaborate

on achieving operational

programs which take into

account the environment

and the community.

Explo

rati

on

Main

tenance

Advantages

Operations consolidation which

will allow us to take advantage

of economies of scale and

targeting efforts towards

increasing reserves

incorporation and the value of

investments.

Advantages

A global view of the Assets

requirements, which will help us

to improve our response

capacity and resources

planning, in order to provide

programmed and preventive

maintenance, and repairs.

29

Industrial Processes

Refining

Operational, administrative and structural improvements

Capture Economic Opportunities

Gas and Basic Petrochemicals

Expand the pipeline network in the northern

and central regions of Mexico

Increase processing and transportation

capacity of natural gas

Petrochemicals

Execution and development of

new business models

Foster the growth of the most

profitable chains

Refining: Operational Performance

Improvement Program (MDO)

30 Fuente: MDO

85

52

62

10

21

230 Total

Monitoring stage

Implementation/

with capital

Implementation

Development

Conceptual

stage 0

569

382

Total 1,170

Monitoring stage

Implementation/

with capital

Implementation

109

Development

Conceptual

stage

230 opportunities identified in 4 out of 6

refineries…

…worth 1.2 billion USD when fully captured

No. Of opportunities Million USD per annum

Economic value amounts to a net gain of ~3.39 USD/barrel, at october 2010 prices.

Only 9.5% of initiatives involve capital expenditure

110

Content

Achievements Challenges Results

31

32

2011 Financial Highlights

2010 2011 Change 2010 2011

Total revenue from sales and

services 1,282.1 1,558.4 21.6% 103.8 111.4

Total revenue from sales and

services including IEPS 1,355.6 1,737.3 28.2% 109.7 124.2

Gross Income 650.7 777.8 19.5% 52.7 55.6

Operating Income 546.5 681.4 24.7% 44.2 48.7

Income before Taxes

and Duties 607.6 784.5 29.1% 49.2 56.1

Taxes and Duties 654.1 876.0 33.9% 53.0 62.6

Net Income (loss) (46.5) (91.5) (3.8) (6.5)

EBITDA1 831.9 1,076.8 29.4% 67.3 76.9

Billion Pesos

(1) Earnings Before Interest, Taxes, Depreciation and Amortization. Excludes IEPS

Billion Dollars

33

Investment Budget

Figures are nominal and may not total due to rounding.

Includes upstream maintenance expenditures.

―E‖ means Estimated. For reference purposes, U.S. dollar- Mexican peso exchange rate conversions

have been made at the following exchange rates, Ps. 12.96/U.S.$1 for 2012, and Ps.12.9/U.S.$1

for 2013 and beyond years.

Includes complimentary non-programmed CAPEX.

13.8

15.6

18.1 18.6

20.1

23.2

28.7 30.4 30.0

27.3

2006 2007 2008 2009 2010 2011 2012 E 2013 E 2014 E 2015 E 2016 E

2.8

1.0% Pemex-

Petrochemicals

12% Pemex-

Refining

2.0% Pemex-Gas and

Basic

Petrochemicals

Pemex-

Exploration and

Production

85%

20.8

19.1

U.S. Billion Dollars

Expected Sources and Uses of Funds 2012

U.S. Billion Dollars

6.6

36.6

7.3

21.9

8.1

23.2

6.1

Initial Cash Resources fromOperations

Financing Total Total Investment(CAPEX)

Debt Payments Final Cash

Sources Uses

6.7

Net Indebtedness: 2.0 USD

34

Price: 106.85 USD/b

Exchange rate: Ps. 12.96/USD

Crude oil production: 2,597 Mbd

Crude oil exports: 1,176 Mbd

Natural gas production: 6.16 MMcfd

Source Amount

MXN Billion

Amount

USD Billion

International Markets 52 4.0

Dollars 39 3.0

Other Markets 13 1.0

Domestic Market 31 2.4

CEBURES 31 2.4

Export Credit Agencies (ECAs) 21 1.6

Others 3 0.2

Total Issuance** 106 8.1

Total Debt Payment 79 6.1

Net Indebtedness for the year** 27 2.0

Financing Program 2012E

100% = 8.1 billion dollars /106 billion pesos

48.8%

29.3%

19.5%

2.4%

International Markets Domestic Markets

ECAs Others

35

Approved Financing Program 2012

(*) Does not include revolving credit facilities.

(**) Maximum approved amount.

Note: Numbers may not total due to rounding.

www.pemex.com

Investor Relations

(+52 55) 1944 - 9700

ri@pemex.com

PEMEX Snapshot

37

(1) PIW 2011 Rankings, December 6, 2010. Petroleum Intelligence Weekly.

3.26 3.08 2.79 2.60 2.58 2.55

0.09 0.07 0.05

0.04 0.05 0.05

1.1 1.2 1.1 1.1 1.2 1.2

4.43 4.39

3.93 3.78 3.79 3.77

2006 2007 2008 2009 2010 2011

Crude Condesates Natural gas equivalent

Hydrocarbon production

MMMboed

43 49 53 60 53 56

41 50

53 63

48 55

84

99 105

123

101 111

2006 2007 2008 2009 2010 2011

Domestic sales Export sales

Total sales

Billion dollars

16.47 14.72 14.31 13.99 13.80 13.80

15.3 15.1 14.5 14.2 15.0 12.4

14.6 14.6 14.7 14.9 14.3 17.6

45.4 44.5 43.6 43.1 43.1 43.8

2006 2007 2008 2009 2010 2011

Proved Probable Possible

Reserves

MMMboe

PEMEX ranking globally1:

4th crude oil producer

11th integrated oil company

11th in crude oil reserves

15th in natural gas production

13th in refining capacity

Credit rating:

Fitch: BBB Stable

Moody’s: Baa1 Stable

S&P: BBB Stable

0

500

1,000

1,500

2,000

2,500

3,000

3,500

60 62 64 66 68 70 72 74 76 78 80 82 84 86 88 90 92 94 96 98 00 02 04 06 08 10 Years

South-

eastern

Basins

Background: Oil Production Evolution

Mesozoic

Chiapas-Tabasco

Cantarell

Ku-Maloob-Zaap

Other offshore fields

Thousand barrels per day

Tertiary-age fields and other ones (mainly Tampico-Misantla basin)

In the 60's the oil production came mainly from Poza Rica and San Andres fields in the Northern

Region, as well as from the Cinco Presidentes and Sánchez Magallanes fields in the Southern Region

In the mid-70’s the Samaria, Sitio Grande, Cactus, Agave and Cunduacán fields from the Chiapas-

Tabasco Mesozoic were incorporated, all of them part of the Southeastern Basins

In the late 70's and early 80's, the offshore fields Akal, Nohoch, Ku, and Abkatún, located in the

Southeastern Basins started development.

In 2004, Cantarell started its predicted natural production decline

Since 2009 crude oil production is stable

38

Test fields (Analogous) Pilots

Akal KL, Chac

Maloob

Chuc

Cárdenas

Poza Rica

Cunduacán

Samaria

Terciario

Coyotes

Foamy surfactant injection at the gas

invaded zone in the Akal KL block

Surfactant solution injection at the water

invaded zone in the Chac field

CO2 injection in the Coyotes field

CO2 injection in the Maloob field

Foamy surfactant injection in the Antonio

J. Bermúdez Complex

Hydrocarbon gas injection in the Chuc

field

Air injection in the Cárdenas field

Surfactant injection in the Poza Rica field

Air injection in the Soledad field

CO2 injection in the Ogarrio field

Soledad

Steam injection at the Tertiary-age

sandstones of the Samaria field

A

B

I

C

D

E

F

J

K

H

G

Agua fría

3P Original Oil In Place related to SR and EOR

(MMmboe)

4 6

17

4.7

9

16

Heavy and

Extra Heavy

Crude

Low

Permeability

Reservoirs

Enhanced

Oil

Recovery

Secondary

Recovery

Higher

scenario

The resources associated with enhanced oil recovery could

represent a potential increase in recovery factor (RF) from

3% to 8%

The resources associated with secondary recovery

represent an increase RF potential 5 to 12%

Therefore, in 2010 PEMEX started the implementation of a

Strategy in Enhanced Oil Recovery at PEP and defined the

Secondary Recovery Strategy which will be initiated in 2012

Eleven pilot projects for EOR have been designed to test

different types of technology

Secondary Recovery and Enhanced Oil Recovery:

key factors to reverse production decline and increase

recovery factors per field

39

40

The production increase coming from other fields beats

other crude oil producer countries’ performance

CAGR 2005-2011 Incremental barrels 2005-2011

Mbd

Excluding Cantarell, crude oil production growth in Mexico outperforms levels reached by other

important crude oil producer countries.

-5.3%

-5.5%

-3.2%

-2.2%

-6.3%

-0.2%

-0.2%

1.9%

1.4%

2.5%

5.9%

6.8%

4.6%

7.2%

7.9% Mexico w/o Cantarell

Angola

Kazakhstan

Irak

Brazil

Canada

Russia

China

Saudi Arabia

Nigeria

Lybia

Iran

Venezuela

United Kingdom

Norway-719

-470

-581

-507

-550

-28

-135

430

822

402

675

903

385

642

751 Mexico w/o Cantarell

Angola

Kazakhstan

Irak

Brazil

Canada

Russia

China

Saudi Arabia

Nigeria

Lybia

Iran

Venezuela

United Kingdom

Norway

Note: Mexico’s CAGR for 2005-2011 is -4.4%

Source: Purvin & Gertz 2005-2011.

Oil Production Scenario

0

500

1,000

1,500

2,000

2,500

3,000

3,500

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026

Chicontepec

Cantarell

Deepwater

Thousands of barrels per day

Tsimin-Xux

Ku Maloob Zaap

Exploitation

(without Cantarell, Chicontepec, Ku Maloob Zaap, Ayatsil -Tekel and Tsimin-Xux)

Ayatsil-Tekel

Future development offshore

Future development onshore

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026

Exploitation 1,230 1,182 1,116 1,068 1,005 968 942 916 851 778 680 599 538 465 411

Cantarell 444 469 466 434 360 278 238 222 200 196 191 180 168 159 150

Chicontepec 79 82 84 89 118 152 203 246 293 363 433 485 521 530 542

Ku-Maloob-Zaap 847 834 850 855 846 840 751 627 556 457 382 337 294 254 214

Tsimin-Xux 2 27 71 107 125 120 112 101 84 72 59 40 23 14 9

Ayatsil-Tekel 0 0 16 41 66 93 102 101 98 91 80 69 46 41 36

FD on shore 0 11 48 100 157 211 256 290 337 384 405 429 456 481 488

FD off shore 0 0 3 27 120 259 394 486 547 605 663 717 763 800 835

Deepw aters 0 - - - - - - - 26 85 129 169 243 313 422

Total 2,602 2,605 2,654 2,721 2,797 2,921 2,998 2,990 2,992 3,031 3,022 3,025 3,052 3,057 3,107

2,700 3,000

41

11 1435

68

119132

147 148 150 158

98

69

2810

1

<0.125

< 0.25 < 0.5 < 1 < 2 < 4 < 8 < 16 < 32 < 64 < 128 < 256 < 512 <1,024

<2,048

Name Fluid Type 3P reserves

(MMboe)

Xux-Tsimin Light Oil

(43°API) 1,947

Ayatsil-Tekel Heavy Oil

(12°API) 757

Pit- Baksha Heavy Oil

(12°API) 504

Number of Fields

Proved Reserves, MMboe

Ayatsil-Tekel-Pit-Baksha Size of Discoveries in the Gulf of Mexico*

* Source: Mineral Management Service, Department of the Interior, U.S. Federal Government.

Xux – Tsimin

These discoveries are

among the biggest found

in the Gulf of Mexico

Tsimin

Ayatsil

Tekel

Baksha-Pit

42

New developments will yield additional production

Discovery Size

1P

2P

43

Ayatsil-Tekel Project

0

200

400

600

800

1,000

1,200

2012 2014 2016 2018 2020 2022 2024 2026

0

50

100

150

200

250

2012 2014 2016 2018 2020 2022 2024 2026

Oil production

(mbd)

Gas production

(mmcfd)

43

Ayatsil Tekel:

Development of extra-heavy oil reservoirs

Main challenges

Main activities:

Tsimin Xux:

Development of gas and condensate reservoirs

maximizing the recovery of liquids

Lakach:

First deepwater development

Lakach

Tsimin -Xux

Tsimin -Xux

Ayatsil-Tekel

Project Wells Platforms CAPEX

Number Number MM USD

Ayatsil-Tekel 43 5 3,016

Tsimin-Xux 61 9 5,740

Lakach 7 2,045

44

Reserves and Prospective Resources

Producing Basin Oil and Gas

Gas

(1) ―3P‖ means the sum of proved, probable and possible reserves; ―2P‖ means the sum of proved and probable reserves;

and ―1P‖ means proved reserves.

(2) Numbers may not total due to rounding.

(3) As of January 1st, 2012

Southeastern

Veracruz

Tampico-

Misantla

Burgos Sabinas

Gulf of Mexico

Deep sea

exploration

Prospective Resources3

Basin MMMboe

Burgos 2.9

Deep waters in the Gulf of Mexico 26.6

Sabinas 0.4

Southeastern 20.1

Tampico-Misantla (ATG) 2.5

Veracruz 1.6

Yucatán Platform 0.5

Total2 54.6

Total Reserves by Area

as of January 1, 2012

MMMboe (billion barrels of oil equivalent)

Basin 3P1 2P1 1P1

Burgos and Sabinas 0.8 0.6 0.4

Deep-waters 0.7 0.2 0.1

Southeastern 24.4 18.2 12.1

Tampico–Misantla (ATG) 17.7 7.0 1.0

Veracruz 0.2 0.2 0.2

Total2 43.8 26.2 13.8

Equivalent to

(years of production)2 32.3 19.2 10.1

45

1P Reserve Replacement

65%

63%

81%

89%

35%

37%

19%

11%

2009

2010

2011

2012

1P reserve incorporation by type

Revisions New Discoveries

(Mmboe) 2010 2011 2012

1P Reserve Replacement Rate 77.1% 85.8% 101.1%

Northeastern Marine 585.8 125.0 385.9

Cantarell -365.0 -101.9 1.8

Ku-Maloob-Zaap 950.8 226.9 384.1

Southwestern Marine 267.4 467.6 332.6

Abkatún-Pol-Chuc 140.6 7.9 45.4

Holok-Temoa -1.0 31.2 0.0

Litoral de Tabasco 127.9 428.4 287.2

Northern -86.7 299.8 344.5

Aceite Terciario del

Golfo -170.3 129.0 176.5

Burgos 104.6 129.9 83.8

Poza Rica-Altamira -81.5 -6.9 54.0

Veracruz 60.5 47.7 30.3

Southern 296.2 295.7 309.1

Bellota-Jujo 26.5 16.1 60.3

Cinco Presidentes 49.8 26.3 74.2

Macuspana 29.1 34.6 110.2

Muspac 68.4 -2.8 0.0

Samaria-Luna 122.3 221.5 64.4

TOTAL 1,062.7 1,188.1 1,372.0

586

125

386

267

468

333

-87

300 345

296 296 309

2010 2011 2012

Northeastern Marine Southwestern Marine

Northern Southern

1P reserve incorporation by Region (Mmboe)

Chuktah-201

512 m

Nab-1

680 m

2004

Noxal-1

935 m

Lakach-1

988 m

2005 2007

Lalail-1

805 m

Chelem1

810 m

2008

Tamil-1

778 m

Tamha-1

1,121 m

2009

Etbakel-1

681 m

Kabilil-1

740 m

2010

Lakach

-2DL

1,196 m

Labay-1

1,700 m

2011

Puskón-1

624 m

Nen-1

1,493 m

Leek-1

851 m

Holok-1

1,028 m

Catamat-1

1,230 m

Piklis-1

1,945 m

Deepwater Drilling

• From 2000, 18 wells were drilled, discovering 8 non-associated natural gas field and 2 extra heavy

oil fields.

46

Deepwater Drilling 2004 - 2012

47

Deepwater budget (drilling, seismic acquisition, studies)

2011 2012

14,976 MMpesos 14,063 MMpesos

Chuktah-201

Nab-1

Noxal-1

Lakach-1

Lalail-1

512

680

805

Chelem-1

810

Tamil-1

778

Tamha-1

1,121

2003 2004 2005 2006 2007 2008

Wate

r depth

– (

mete

rs)

935

Gas Field

Oil Field

Unsuccessful

Leek-1

851

Catamat-1

1,230

2009

988

2010 2011

1,700

Labay-1

Lakach-2DL

1,196

Drilling

Piklis-1

1,945

Puskón-1

600

851

Maximino-1

Lakach

2004-2009 2010 2011

Holok-1

1,028

Etbakel-1

681

Kabilil-1

740

Talipau-1

940

Talipau-1

Puskón-1

Hux-1

1,130

Nen-1

1,495

2012

Kunah-1

2,154

Trión-1

2,550

Maximino-1

2,933

Yoka--1

2,090

2012 Program Supremus-1

2,890

Caxa--1

1,800

No. of locations >1,000 m

48 10 3

48

Production and F&D Costs

4.13 4.72

6.16

4.85 5.22

2006 2007 2008 2009 2010

13.2 12.0

10.8 11.8

12.8

2006 2007 2008 2009 2010

23.15

18.44

18.39

14.93

13.97

13.06

12.95

12.84

11.41

10.36

Statoil

Chevron

Eni

Conoco

Total

Shell

Petrobras

PEMEX

Exxon

BP

10.96

10.03

9.10

8.89

8.14

8.10

6.77

6.59

6.32

5.22

Chevron

Petrobras

Shell

Eni

Exxon

Conoco

BP

Statoil

Total

PEMEX

Production Costsa

USD @ 2010 / boe

Finding and Development Costsb,c

USD @ 2010 / boe

Production Costs1

USD @ 2010 / boe

Finding and Development Costs2

USD @ 2010 / boe

a) Source: 20-F Form 2010.

b) PEMEX Estimates- 3-year average.

c) Includes indirect administration expenses.

(1) Source: Annual Reports and SEC Reports 2010.

(2) Estimates based on John S. Herold, Operational Summary,

Annual Report and SEC Reports 2010.

49

Evolution of Productivity Index

65%

70%

75%

80%

85%

90%

95%

100%

105%

110%

115%

Sep-2009 Dec-2009 Mar-2010 Jun-2010 Sep-2010 Dec-2010 Mar-2011 Jun-2011

Permanent Payroll PEP / wells in operation (100% = 5.7)

Permanent Payroll PGPB / MMcfd processed wet gas (100% = 2.6)

Permanent Payroll PR / Mbd of Petroleum Products Sold (100% = 22.9)

Permanent Payroll PPQ / MT of Petrochemicals Sold (100% = 46.8)

September 2009 = 100%

Pro

ducti

vit

y

50

Execution Strategy

1st round: Awarded in August 2011.

2nd round: Contracts approved by

the Board of Directors in November

2011 and the preliminary bases

were published in December 2011.

Focus on technical, operational

and managerial challenges.

Potential to increase the

recovery factor.

Mature Fields Southern and Northern Regions

Mature Fields Northern Region and Chicontepec

Deep Waters

Increase Capacity Execution

2011 2012

Awarding of the 2nd round of

mature fields of the Northern

Region.

Chicontepec: Resources that

require a greater execution

capacity and the development

of specific technological

solutions.

56% of probable reserves and

58% of possible reserves are

located in Chicontepec.

An important portions of

the long term production

platform is located in Deep

Waters.

First production is expected

to be obtained in

approximately seven years.

Strategic execution program aligned with

the business plan

Beyond 2012

51

Main Projects

Conservation

Reforestation

Carbon Capture

Environmental Education

Research and Technological Applications

Sustainability and Environmental

Protection (1/2)

Pantanos de Centla Selva Lacandona Humedales de Alvarado Parque Ecológico Jaguaroundi

52

Environmental Projects (1/2)

Research, educational

and technological

implementation

program to preserve

the Lacandona Jungle

• Protection of 3 thousand 200

hectares.

• Resolution of land conflicts

with an environmental

perspective.

• Recovery of animal

populations considered as

endangered.

• Environmental education in

localities.

Description Achievements Project

Parque Ecológico Jaguaroundi

Natural Reserve of 960

hectares focused on

conservation,

reforestation, carbon

capture and

environmental

education.

• Preservation of biodiversity.

• Environmental education activities

and restoration of affected areas.

• Special Honorable Mention in the

National Award for Ecological Merit

in 2004.

53

Environmental Projects (2/2)

Conservation,

environmental education

and management project

of the Centla Marshes

Biosphere Reserve,

Tabasco.

• Development and consolidation

of the Casa del Agua as an agent

of transformation in the culture

of conservation in the region.

• Publication and dissemination of

educational materials.

• Restoration of critical

ecosystems.

• Sustainable development in

communities.

Environmental Education

Project in the Alvarado

and Tuxpan wetlands,

and the Otontepec

Sierra. Reforestation of

mangroves and lowlands

in the Alvarado Lagoon

System.

• Environmental education and

training.

• 200 landlords trained in

reforestation, fire control and soil

protection techniques.

Reforestation of 643 hectares in

properties of which 398 are

mangrove vegetation and 245 are

lowland forest, with a scheme of

community participation.

Description Achievements Project

2011

54

16.42 15.67

50.49

16.50 18.73

31.63

49.91

Gross Margin

2011 (U.S.$) Exxon Royal Dutch Shell Statoil BP Chevron Petrobras PEMEX

Total sales $433,526.00 $470,171.00 $115,281.98 $375,517.00 $236,286.00 $146,294.36 $111,393.00

Gross income $71,168.00 $73,669.00 $58,211.42 $61,954.00 $44,260.00 $46,275.28 $55,596.00

Operating income $54,104.00 $42,715.00 $37,591.70 $27,061.00 $38,299.00 $26,267.77 $48,707.00

Income before taxes and duties $73,257.00 $55,660.00 $38,184.72 $38,834.00 $47,634.00 $26,572.18 $56,076.00

Net income $41,060.00 $30,918.00 $14,068.67 $25,700.00 $26,895.00 $19,959.03 -$6,539.00

EBITDA $69,687.00 $55,943.00 $46,761.06 $39,220.00 $51,210.00 $36,896.11 $76,964.00

16.07 11.90

40.56

10.44

21.67 25.22

69.09

EBITDA Margin

12.48 9.09

32.61

7.21 16.21 17.96

43.73

Exxo

n

Ro

yal

Du

tch

She

ll

Stat

oil

BP

Ch

evr

on

Pe

tro

bra

s

Pe

me

x

Operating Margin

16.90 11.84

33.12

10.34 20.16 18.16

50.34

Exxo

n

Ro

yal

Du

tch

She

ll

Stat

oil

BP

Ch

evr

on

Pe

tro

bra

s

Pe

me

x

Pre-tax Margin

Source: Bloomberg.

55

4Q11 Financial Highlights

Billion Pesos

(1) Earnings Before Interest, Taxes, Depreciation and Amortization. Excludes IEPS

Billion Dollars

4Q10 4Q11 Change 4Q10 4Q11

Total revenue from sales and

services 343.0 420.3 27.8 30.0

Gross Income 162.3 197.8 13.1 14.1

Operating Income 132.9 175.2 10.8 12.5

Income before Taxes

and Duties 144.5 219.7 11.7 15.7

Taxes and Duties 169.6 243.5 13.7 17.4

Net Income (loss) (25.1) (23.8) (2.0) (1.7)

EBITDA1 199.0 292.6 16.1 20.9

22.5%

20.7%

30.3%

50.4%

45.9%

43.5%

56

1Q12 Financial Results

Billion Pesos Billion Dollars

1Q11 1Q12 Variation 1Q11 1Q12

Total revenue from sales and

services 352.7 411.3 29.5 32.0

Gross Income 184.0 221.4 15.6 17.2

Operating Income 191.5 247.7 13.7 19.3

Income before Taxes

and Duties 201.0 280.4 16.9 21.8

Taxes and Duties 199.4 246.5 16.5 19.2

Net Income 1.5 33.9 0.1 2.6

EBITDA1 244.5 305.8 20.5 23.8

16.6%

20.4%

29.3%

39.5%

25.0%

23.6%

(1) Earnings Before Interest, Taxes, Depreciation and Amortization. Excludes IEPS.

57

2010 2011 Var. Abs.

2010 vs. 2009 %

Total sales 1,282.1 1,558.4 276.3 21.6%

Domestic 683.9 779.2 95.3 13.9%

Exports 592.9 773.0 180.1 30.4%

Income from services 5.3 6.3 1.0 18.9%

Cost of sales 631.4 780.6 149.2 23.6%

Gross profit 650.7 777.8 127.1 19.5%

General expenses 104.3 96.4 -7.9 -7.6%

Distribution expenses 33.3 31.3 -2.0 -6.0%

Administrative expenses 71.0 65.0 -6.0 -8.5%

Operating profit 546.5 681.4 134.9 24.7%

Other income (expenditure), net 71.6 195.5 123.9 173.0%

Financial result (cost) (12.0) (91.6) -79.6 663.3%

Financial results of non

consolidated subsidiaries 1.5 (0.8) -2.3 -153.3%

Profit before tax and duties 607.6 784.5 176.9 29.1%

Tax and duties paid 654.1 876.0 221.9 33.9%

Net loss (46.5) (91.5) -45.0 96.8%

Financial Highlights. 2010 vs. 2011 (NIF)

Million MX$

58

Sources and Uses of Funds 2011

Average Exchange Rate: 12.4253 $/USD

Production: 2,553.4 Mbd

Average Price: 101.05 USD/BL

Net Indebtedness: 1.7 billion USD

Internal: 0.5 billion USD

External: 1.2 billion USD

PEMEX's Board authorized a limited net indebtedness of U.S.$3.5 billion and a maximum debt to be

raised of U.S.$10 billion. Estimated amortizations for the year are U.S.$6.5 billion.

Nevertheless, due to operating cash flow generation and existing cash balances the amount of

debt raised in 2011 should be around U.S.$8.1 billion. Therefore, the resulting net

indebtedness should be U.S.$1.7.

Sources Uses

18.1

8.1

23.0

6.5 9.8

36.0

6.5

Initial cash Resourcesfrom

operations

Financing Total Totalinvestment

(CAPEX)

DebtPayments

Final cash

External and Structural Effects

Subsidy of

LPG

Opportunity cost of the sale of LPG in the domestic

market. It is the difference between the international

reference price and the maximum price set by

Presidential decree, times the volume sold.

Quality of

gasolines and

diesel

Diesel

imports price

parity

Million pesos

Non-recognized logistics costs on diesel imports. Prices

are kept at parity.

Producer’s price is not adjusted as the quality of

automotive gasolines change.

Total Amount

2011

= 39,950

= 2,856

= 4,929

= 88,886 Cost-cap It is the excess tax generated by deducting the cost-cap

authorized in the fiscal regime for PEP, instead of the real

costs.

60

2011 Capital Markets’ Activity

Issuance

MM Coupon Issuance Date Maturity

A Ps. 10,000 TIIE28 + 21 bp 15-mar-11 2016

B USD$1,250 6.50% 25-may-11 2041

C USD$1,000 5.50% 20-jul-11 2021

D Ps. 7,000 TIIE28 + 24 pb 27-sep-11 2017

E 653.38 UDIS (Ps. 3,000) 3.55% 27-sep-11 2021

F USD$1,250 6.50% 12-oct-11 2041 reopening

G Ps. 10,000 7.65% 7-dic-11 2021

A B

C

D,E F G

1.50%

2.00%

2.50%

3.00%

3.50%

4.00%

4.50%

5.00%

ene 11 feb 11 abr 11 jun 11 jul 11 sep 11 oct 11 dic 11

61

PEMEX´S Debt Evolution

Debt Outstanding

Consolidated Debt1

US$ Billion

49.8 52.2

46.1 42.8

47.9 53.2 55.3

58.3

2005 2006 2007 2008 2009 2010 2011 2012

Outstanding at the end of each year

2

(1) Does not include accrual interest

(2) Estimated

62

Maturity Profile – Consolidated Debt *

Total Debt as of December 31, 2011 – U.S.$55.3 billion

Debt Portfolio

13.2%

11.2%

8.7% 8.1%

10.5%

5.4% 6.1%

6.5% 5.8%

7.4%

1.3% 0.9%

0.0%

2.3%

0.0% 0.5%

12.1%

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028…

(1) Numbers may not total due to rounding.

(*) Does not include accrued interests

63

Composition of Debt

Total Debt as of December 31, 2011 – U.S.$55.3 billion

(*) Does not include accrued interests.

By Interest Rate

By Currency Exposure

By Currency of Issuance*

By Instrument*

Dollars65%

Euros10%

UDIS3%

British Pounds

2%

Yens4%

Pesos15%

Swiss Francs

1%

Int. Bonds49%

Cebures16%

ECAs17%

Int. Bank Loans13%

Domestic Bank Loans

1%

Others4%

Fija60%

Flotante

40%

Dólar80%

Peso18%

Euros2% Dólar

Peso

Euros