# EDGAR Filing Document

**Accession Number:** 0000932782
**File Stem:** 0000932782-25-000040
**Filing Date:** 2025-11
**Character Count:** 270870
**Document Hash:** 005d596de8a38c4615aa52b4db4f6275
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000932782-25-000040.hdr.sgml**: 20251112

**ACCESSION NUMBER**: 0000932782-25-000040

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 130

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251112

**DATE AS OF CHANGE**: 20251112

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MEXICAN PETROLEUM
- **CENTRAL INDEX KEY:** 0000932782
- **STANDARD INDUSTRIAL CLASSIFICATION:** CRUDE PETROLEUM & NATURAL GAS [1311]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 000000000
- **STATE OF INCORPORATION:** O5
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-00099
- **FILM NUMBER:** 251470204

**BUSINESS ADDRESS:**
- **STREET 1:** AVENIDA MARINA NACIONAL NO. 329
- **STREET 2:** COLONIA VERONICA ANZURES
- **CITY:** MEXICO CITY
- **STATE:** O5
- **ZIP:** 11300
- **BUSINESS PHONE:** 5255-1944-2500

**MAIL ADDRESS:**
- **STREET 1:** AVENIDA MARINA NACIONAL NO. 329
- **STREET 2:** COLONIA VERONICA ANZURES
- **CITY:** MEXICO CITY
- **STATE:** O5
- **ZIP:** 11300

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

__________________________

**FORM 6-K**

__________________________

**REPORT OF FOREIGN PRIVATE ISSUER**

**PURSUANT TO RULE 13a-16 OR 15d-16**

**UNDER THE SECURITIES EXCHANGE ACT OF 1934**

**For the month of November 2025**

**Commission File Number 0-99**

__________________________

**PETRÓLEOS MEXICANOS**

**(Exact name of registrant as specified in its charter)**

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| | |
|:---|:---|
| **Mexican Petroleum** | **United Mexican States** |
| **(Translation of registrant's name into English)** | **(Jurisdiction of incorporation or organization)** |

---

**Avenida Marina Nacional No. 329**

**Colonia Verónica Anzures** 

**11300 Ciudad de México, México**

**(Address of principal executive offices)**

__________________________

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ⌧ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form 40-F □

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A free translation of the original Document in Spanish filed with the Bolsa Mexicana de Valores (Mexican Stock Exchange):

1 *<u>[Pemex Form 6-K 3Q.2025 Translation](a3t_2025bmv-traslation.htm)</u>*

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

**Petróleos Mexicanos**

By: <u>/s/ José Alberto Jiménez Hernández.</u><u>.</u>

José Alberto Jiménez Hernández

Associate Managing Director of Finance

Date: November 12, 2025

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**FORWARD-LOOKING STATEMENTS** 

This report contains words, such as "believe," "expect," "anticipate" and similar expressions that identify forward-looking statements, which reflect our views about future events and financial performance. We have made forward-looking statements that address, among other things, our:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• exploration and production activities, including drilling;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• activities relating to import, export, refining, transportation, storage and distribution of petrochemicals, petroleum, natural gas and oil products;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• activities relating to our lines of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• projected and targeted capital expenditures and other costs;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• trends in international and Mexican crude oil and natural gas prices;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• liquidity and sources of funding, including our ability to continue operating as a going concern;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• farm-outs, joint ventures and strategic alliances with other companies; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the monetization of certain of our assets.

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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• general economic and business conditions, including changes in international and Mexican crude oil and natural gas prices, refining margins and prevailing exchange rates;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• credit ratings and limitations on our access to sources of financing on competitive terms;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to find, acquire or gain access to additional reserves and to develop, either on our own or with our strategic partners, the reserves that we obtain successfully;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the level of financial and other support we receive from the Mexican Government;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• national or international public health events, including the outbreak of pandemics or contagious disease;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the outbreak of military hostilities, including an escalation of the military conflict involving Russia and Ukraine, the conflict in the Middle East and disruptions to shipping operations in the Red Sea;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• effects on us from competition, including on our ability to hire and retain skilled personnel;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• uncertainties inherent in making estimates of oil and gas reserves, including recently discovered oil and gas reserves;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• technical difficulties;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• significant developments in the global economy;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• significant economic or political developments in Mexico and the United States;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• developments affecting the energy sector;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• changes in, or failure to comply with, our legal regime or regulatory environment, including with respect to tax, environmental regulations, and corruption regulations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• receipt of governmental approvals, permits and licenses;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• natural disasters, accidents, blockades and acts of sabotage or terrorism;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the cost and availability of adequate insurance coverage; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the effectiveness of our risk management policies and procedures.

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.

## Ex-1

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 1 of 128 Quarterly Financial Information [105000] Management commentary .................................................................................................................................2 [110000] General information about financial statements ...........................................................................................39 [210000] Statement of financial position, current/non-current.....................................................................................40 [310000] Statement of comprehensive income, profit or loss, by function of expense ...........................................42 [410000] Statement of comprehensive income, OCI components presented net of tax .........................................43 [520000] Statement of cash flows, indirect method ......................................................................................................45 [610000] Statement of changes in equity - Accumulated Current ..............................................................................47 [610000] Statement of changes in equity - Accumulated Previous ............................................................................50 [700000] Informative data about the Statement of financial position .........................................................................53 [700002] Informative data about the Income statement...............................................................................................54 [700003] Informative data - Income statement for 12 months.....................................................................................55 [800001] Breakdown of credits ........................................................................................................................................56 [800003] Annex - Monetary foreign currency position..................................................................................................60 [800005] Annex - Distribution of income by product .....................................................................................................61 [800007] Annex - Financial derivate instruments ..........................................................................................................62 [800100] Notes - Subclassifications of assets, liabilities and equities .......................................................................74 [800200] Notes - Analysis of income and expense.......................................................................................................78 [800500] Notes - List of notes ..........................................................................................................................................79 [800600] Notes - List of accounting policies ..................................................................................................................80 [813000] Notes - Interim financial reporting ...................................................................................................................81 Exhibit 1

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 5 of 128 Residuales en las Refinerías Miguel Hidalgo and Salina Cruz, Oaxaca. These contributions represented an important source for the payment of our debt during the first nine-month period ended September 30, 2025. If we were unable to obtain financing on favorable terms, this could hamper our ability to invest in projects, replace hydrocarbon reserves, and meet our principal and interest payment obligations with our creditors. This risk would be further magnified if support from the Mexican Government were to be discontinued or reduced. As a result, we may be exposed to significant liquidity constraints and may be unable to service our debt, pay our suppliers, or make the necessary capital expenditures to maintain our target production levels and to maintain, and increase, the proved hydrocarbon reserves assigned to us by the Mexican Government, which may adversely affect our financial condition and results of operations. See "—Risk Factors Related to our Relationship with the Mexican Government—We must make significant capital expenditures to sustain our current production levels, and to maintain, as well as increase, the proved hydrocarbon reserves assigned to us by the Mexican Government. Reductions in our revenue, adjustments to our capital expenditures budget or an inability to obtain financing may limit our ability to make capital investments" below. If such constraints occur at a time when our cash flow from operations is insufficient to meet our debt service obligations, as was the case for the year ended December 31, 2024, we could be forced to further reduce our planned capital expenditures and implement further austerity measures in order to provide additional liquidity to our operations. A reduction in our capital expenditure program could adversely affect our financial condition and results of operations. Additionally, such measures may not be sufficient for us to meet our obligations. Our condensed consolidated interim financial statements not audited have been prepared on the assumption that we will continue as a going concern. Our condensed consolidated interim financial statements not audited as of September 30, 2025, have been prepared under the assumption that we will continue as a going concern. However, there is material uncertainty that raises significant doubt about our ability to continue operating as a going concern. Our condensed consolidated interim financial statements not audited as of the first nine-month period ended September 30, 2025, do not include any adjustments that might result from the outcome of that uncertainty. If the actions we are taking to improve our financial condition are not successful, we may not be able to continue operating as a going concern. Downgrades in our credit ratings could negatively impact our access to the financial markets and cost of financing. We rely on access to the financial markets to fund our operations and finance the capital expenditures needed to carry out our capital investment projects. Accordingly, credit ratings are important to our business and financial condition, as credit ratings affect the cost and other terms upon which we are able to obtain funding. Ratings address our creditworthiness and the likelihood of timely payment of our long-term debt securities. Ratings are not a recommendation to purchase, hold or sell securities and may be changed, suspended or withdrawn at any time. Our current credit ratings and the rating outlooks depend, in part, on economic conditions and other factors that affect credit risk and are beyond our control, as well as assessments of the creditworthiness of Mexico. Certain rating agencies downgraded Mexico's credit ratings in July 2022, and their assessment of Mexico's creditworthiness has affected and may further affect our credit ratings. Further, in July 2023 and February 2024, certain rating agencies downgraded our credit rating and ratings outlook. We currently have a "split rating" among the rating agencies that formally rate our credit profile. Two of such rating agencies have assigned us a non-investment grade rating, and the other agency assigned us an investment grade rating. However, in 2025, two of the three rating agencies raised PEMEX's long-term rating, improving its outlook and reflecting the Mexican government's increased commitment to supporting its financial obligations and the publication of its 2025-2035 Strategic Plan.

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 6 of 128 While these downgrades do not constitute a default or an event of default under our debt instruments, they have increased our cost of financing. Further downgrades may have material adverse consequences on our ability to access financial markets and the terms on which we may obtain financing, including further increases in our cost of financing. In turn, this could significantly harm our financial condition, results of operations and ability to meet existing obligations. In addition, for new financings or amendments to existing financing arrangements, more restrictive covenants, higher collateral requirements and other less favorable terms could reduce our financial and operational flexibility, negatively impact our liquidity and the prices of our debt securities, reduce our potential pool of investors and limit our funding sources, among other consequences. There can be no assurance that we will be able to maintain or improve our current credit ratings or outlook. Should this trend continue, we could face greater financial limitations that would affect our ability to meet our debt obligations and maintain our long-term sustainability. Crude oil, natural gas and petroleum products prices are volatile, and low crude oil, natural gas and petroleum products prices adversely affect our income and cash flows and the value of the hydrocarbon reserves that we have the right to extract and sell. Most of our cash flow derives from sales of crude oil, petroleum products and natural gas. International prices of these products fluctuate due to global supply and demand dynamics, as well as many factors beyond our control. These factors include (i) competition within the oil and natural gas industry, (ii) the existence and development of alternative sources of energy, (iii) prices of alternative sources of energy, (iv) the cost of exploration and extraction of oil fields, (v) international economic trends, (vi) exchange rate fluctuations, (vii) expectations of inflation, (viii) domestic and foreign laws and government regulations, (ix) energy transition policies, (x) political, social and other events (including public health events and armed conflict) in major oil- and natural gas-producing and consuming nations, (xi) actions taken by Organization of the Petroleum Exporting Countries ("OPEC") members and other oil exporting countries, (xii) trading activity in oil and natural gas and (xiii) transactions in derivative financial instruments ("DFIs") related to oil and gas. If international prices of crude oil, petroleum products and/or natural gas decrease, we earn less revenue and less income before taxes, which generate lower cash flows and limits our ability to make capital expenditures and meet our financial obligations as our fixed costs remain roughly constant. Conversely, if prices of crude oil, petroleum products and/or natural gas increase, we may earn more revenue and our income before taxes and duties increases. During the first nine-month period ended September 30, 2025, and 2024, the weighted average Mexican crude oil price remained volatile due to market conditions, averaging U.S. $63.22 per barrel, and U.S. $72.48, respectively. As of the date of this report, prices of crude oil remain highly volatile as a result of geopolitical uncertainty. Any future decline in international crude oil and natural gas prices will have a negative impact on our results of operations and financial condition. Price fluctuations may also affect estimates of the amount and value of Mexico's hydrocarbon reserves that we have the right to extract and sell, which could affect our future production levels. See "—Risk Factors Related to our Relationship with the Mexican Government—Hydrocarbon reserves are based on estimates, which are uncertain and subject to revisions" below. Our business could be negatively impacted by hydrocarbon price volatility as the result of actual or threatened global military or paramilitary activity, political tensions, and any related destabilization of the world energy markets. Our income and cash flows depend on the prices of crude oil, petroleum products and natural gas. Oil prices are highly sensitive to actual and perceived threats to global geopolitical stability, as well as to changes in production from OPEC and OPEC+ member states and other oil-producing nations, which can cause either oversupply or shortages in the market. The volatility of global oil, natural gas and refined products prices could increase due to an increase, or the threat of an increase, in military or paramilitary activities such as the ongoing war in Ukraine and the conflict between Israel, Hamas, Hezbollah and Iran in the Middle East, as well as the interventions of the United States; disruptions in critical supply routes such as disruptions on operations in the Red Sea and the Suez Canal and; the effects of international sanctions and trade restrictions that reduce crude oil supply in global

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 7 of 128 markets. Any destabilization in energy markets could reduce the price we receive from our sales and adversely affect our profitability. Increases in oil, gas and refined products prices resulting from these conflicts may not persist and could be reversed by factors beyond our control, including geopolitical events. Our business may be materially and adversely affected by the emergence of epidemics or pandemics. Public health events, including epidemics and pandemics caused by infectious agents and diseases, may adversely impact the health of our workforce, disrupt the operations of our partners and suppliers, and demand the redesign of routines and procedures. Public health events can also compromise the operation of our key facilities, including our oil platforms, refineries and terminals, causing disruptions in our supply chain. In addition, public health events may impact the economy of Mexico, its population and/or the global economy, influencing the international prices of, and/or demand for, crude oil, refined products and/or natural gas, which may in turn affect our business, results of operations and financial condition. The impact of current or future public health events is highly uncertain and will depend on numerous evolving factors that we cannot predict. See "—Risk Factors Related to our Operations—Crude oil, natural gas and petroleum products prices are volatile, and low crude oil, and natural gas prices adversely affect our income and cash flows and the value of the hydrocarbon reserves that we have the right to extract and sell" above for further information. We are an integrated oil and gas company and are exposed to production, equipment and transportation risks, criminal acts, blockades to our facilities and deliberate acts of terror that could adversely affect our business, results of operations and financial condition. We are subject to several risks that are common among oil and gas companies. These risks include (i) production risks, including fluctuations in production due to operational hazards, accidents at our facilities and effects of natural disasters or weather, (ii) equipment risks, including those relating to the adequacy, condition and maintenance of our facilities and equipment and (iii) transportation risks, including those relating to the condition, availability and vulnerability of pipelines and other modes of transportation. Our business is subject to risks of explosions in: pipelines, refineries, plants, drilling wells and other facilities, as well as oil spills, hurricanes in the Gulf of Mexico and other natural disasters, accidents, fires and mechanical failures. Our operations are also exposed to risks arising from criminal acts to steal, divert or tamper with our crude oil, natural gas and refined products from our pipeline network, as well as materials and equipment theft. These acts include the illegal extraction of hydrocarbons, such as clandestine "tapping" of our pipelines, and the illegal trade of hydrocarbons, such as those introduce into the country through tax evasion. Such criminal activity has led to fires, explosions, property and environmental damage, injuries and loss of life, as well as loss of revenue from the stolen products. The actions we have taken in conjunction with the Mexican Government to reduce the illicit market of fuels have not produced sustained improvement in recent years. In 2024 and 2023, we discovered 11,774 and 14,890 illegal pipeline taps, respectively. We are also exposed to the risk that some of our employees may and other public servers, or may be perceived to be participating in the illicit market in fuels. In addition, our facilities are exposed to intentional acts of sabotage, terrorism, blockades, theft and piracy. The occurrence of incidents such as these related to the production, processing and transportation of oil and gas products could result in personal injuries, loss of life, environmental damage from the subsequent containment, clean up and repair expenses, equipment damage and damage to our facilities, which in turn could adversely affect our business, results of operations and financial condition. We are exposed to cybersecurity incidents and attacks that could significant adversely affect our business, results of operations and financial condition. Our operations rely on information technology and operational systems. In recent years, cyber-threats and cyber-attacks targeting critical infrastructure in the energy sector have become more sophisticated, frequent, coordinated and costly, affecting our operations and information technology systems. These attacks seek to generate vulnerabilities in business and industrial

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 8 of 128 systems and equipment, disrupting business continuity and compromising sensitive data. If the integrity of our information technology and operational systems were to be materially compromised due to a cyber-attack or due to the negligence or misconduct of our employees, our business operations could be disrupted or even paralyzed, and our proprietary information could be lost or stolen. If such information security failures occur, we could experience, among other things: (i) disruptions in critical infrastructure operations affecting the production and distribution of hydrocarbons and derivatives, (ii) regulatory penalties, (iii) legal liability resulting from breaches of personal, customer or partner data, (iv) reputational damage and loss of trust, (v) decreased revenues and financial losses, theft or alteration of information, depending on the severity of the incident; (vi) increased operational costs, including system recovery, enhanced security measures and compensation payouts and (vii) loss of strategic assets depending on the severity of incidents affecting critical systems, which in turn could have a material adverse effect on our results of operations and financial condition. A continued decline in our proved hydrocarbon reserves and production could adversely affect our operating results and financial condition. Some of our existing oil and gas-producing fields are mature and, as a result, our reserves and production may decline as reserves are depleted. In 2024, our total proven reserves had a decrease of 29.8 million barrels of crude oil equivalent, or 0.4%, after accounting for discoveries, extensions, revisions, and delimitations, from 7,480.4 million barrels of crude oil equivalent as of December 31, 2023, to 7,450.6 million barrels of crude oil equivalent as of December 31, 2024. Based on these numbers, our reserve replacement ratio ("RRR") in 2024 was 96.6%, a decrease as compared to a RRR of 103.2% in 2023. Our proven reserves decreased from 7,480.4 million barrels of crude oil equivalent as of December 31, 2023, to 7,450.6 million barrels of crude oil equivalent as of December 31, 2024, due to discoveries, developments, delineations and revisions of our proved reserves, in particular to the recategorization of reserves due to drilling of development wells. Our crude oil production decreased by 6.1% in 2024, mainly due to the natural decline of some of our main fields such as: Zaap, Quesqui, Xanab and Pokche, the lag in the installation of marine infrastructure, as well as unusual bad weather conditions that affected the continuity of offshore operations and delays in the completion times of wells with high complexity due to their depth, pressure and temperature conditions. There can be no assurances that we will be able to replace our proved reserves and prevent a decline in our production. Failing to replace our reserves could have an adverse effect on our production expectations and results of operations, increase our need for external financing and compromise our long-term financial conditions. Developments in the oil and gas industry and other factors may result in substantial write-downs of the carrying amount of certain of our assets, which could adversely affect our operating results and financial condition. We evaluate on an annual basis, or more frequently where the circumstances require, the carrying amount of our assets for possible impairment. Our asset impairment tests are performed by a comparison of the carrying amount of an individual asset or a cash-generating unit with its recoverable amount. Whenever the recoverable amount of an individual asset or cash-generating unit is less than its carrying amount, an impairment loss is recognized to reduce the carrying amount to the recoverable amount. Changes in the economic, regulatory, business or political environment in Mexico or in other markets where we operate— such as the liberalization of fuel prices, a significant decline in international crude oil and gas prices, regulatory changes and stricter environmental policies and climate action— may result in the recognition of impairment charges in certain of our assets. Due to variations in the price of crude oil and in discount rates, among other factors, we have performed impairment tests on our non-financial assets (other than inventories and deferred taxes) at the end of each quarter. As of September 30, 2025, and 2024 we recognized an impairment charge in the amount of Ps. 52.6 billion and Ps. 51.8 billion, respectively. Future developments in the economic environment, in the oil and gas industry and other factors could result in further substantial impairment charges, adversely affecting our operating results and financial condition.

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 9 of 128 Competition in the energy sector could adversely affect our business and financial performance. The Mexican Constitution and the Ley del Sector de Hidrocarburos (the "Hydrocarbons Sector Law") allow other oil and gas companies to carry out certain activities related to the energy sector in Mexico, including exploration and production activities, and the import and sale of gasoline. Accordingly, we face competition for the right to explore and develop new oil and gas reserves. We are likely to face competition in connection with certain refining, transportation and processing activities, and in the distribution and sale of gasoline and other fuels. The Hydrocarbons Sector Law gives us priority in various industry activities and currently limits participation of private companies in exploration and extraction activities in Mexico. A failure to compete effectively, or any increased competition in industry activities, including as a result of modifications to the Hydrocarbons Sector Law, could have an adverse impact in our results of operations and financial condition and make it difficult for us to hire and retain skilled personnel. We are subject to Mexican and international anti-corruption, anti-bribery, anti-money laundering or similar laws. Our failure to comply with these laws could result in penalties, which could harm our reputation and have an adverse effect on our business, results of operations and financial condition. We are subject to Mexican and international anti-corruption, anti-bribery and anti-money laundering laws. We maintain a corporate compliance program that includes policies and processes intended to monitor compliance with these laws, such as our internal control system. Our internal control system aims to prevent risks, anticipate any weaknesses arising from our operations or internal control over financial reporting and promote information exchange and communication. However, we are subject to the risk that our management, employees, contractors or any person doing business with us may (i) engage in fraudulent activity, corruption, bribery or other improper conduct, (ii) circumvent or override our internal controls and procedures or (iii) misappropriate or manipulate our assets to our detriment. This risk is heightened because we have a large number of complex and significant contracts with local and foreign third parties. Although we have systems and internal policies in place for identifying, monitoring and mitigating these risks, such systems and policies have been insufficient in the past and could not be effective in the future. Further, we cannot ensure that these compliance policies and processes will prevent intentional, reckless or negligent acts committed by our management, employees, contractors or anyone doing business with us. Any failure—real or perceived—to comply with applicable governance or regulatory obligations by our management, employees, contractors or any person doing business could harm our reputation, limit our ability to obtain financing and otherwise have a material adverse effect on our business, financial condition and results of operations. If we fail to comply with any applicable anti-corruption, anti-bribery, anti-money laundering or similar laws, we and our management, employees, contractors or any person doing business with us may be subject to criminal, administrative or civil penalties and other measures, which could in turn have material adverse effects on our reputation, business, financial condition and results of operations. Any investigation of potential violations of anti-corruption, anti-bribery, anti-money laundering or similar laws by governmental authorities in Mexico or other jurisdictions could result in an inability to prepare our condensed consolidated interim financial statements not audited in a timely manner and could adversely impact our reputation, limit our ability to access financial markets and adversely affect our ability to obtain contracts, assignments, permits and other government authorizations necessary to participate in our industry, which, in turn, could have adverse effects on our business, results of operations and financial condition. We participate in strategic alliances and other joint arrangements, which may not always perform as expected, and harm our reputation, could have an adverse effect on our business, results of operations and financial condition. We have not entered into any strategic alliances or other joint arrangements since 2018. However, we continue to participate in arrangements entered into before 2018 and have entered into contratos de servicios integrales de exploración y extracción (long-term service contracts for oil production, or "CSIEEs"). Pursuant to the Hydrocarbons Sector Law, we can also enter into contratos mixtos ("Mixed Agreements") with other market participants to complement our technical, operational and financial capabilities in exploration and extraction activities. Although these agreements are intended to reduce or reallocate risks

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 10 of 128 in oil and gas exploration and production, refining, transportation and processing activities, our partners in such arrangements may, as a result of financial or other difficulties, be unable or unwilling to fulfill their financial or other obligations under our agreements, potentially undermining the viability of the relevant project. Moreover, in certain strategic alliances contracts, our partners may act contrary to our policies or objectives, which could be to our overall detriment. If our strategic alliances and other joint arrangements do not perform as anticipated, our reputation may be harmed and our business, financial condition and results of operations could be adversely affected. Our brand and reputation are key assets, and our business may be materially affected by how we are perceived in the media and by investors and rating agencies. Our reputation is a key asset, and perceptions surrounding our commitment to and compliance with environmental, corporate governance and social goals could have a material impact on us, our ability to obtain financing and the value of our debt securities. We are exposed to significant publicity and constant information requirements due to our relationship with the Mexican Government and our role in the Mexican economy. Political and public sentiment regarding the Mexican Government, Mexico, the oil and gas industry and us has resulted and may result in adverse publicity affecting us, which may expose us to reputational harm, regardless of the accuracy of information being publicized. Our exposure to potentially adverse publicity is heightened by social media and the increasing sophistication and availability of generative artificial intelligence, which can facilitate the creation of false or misleading information and increase the velocity with which such information is distributed. In addition to the general risk that negative publicity poses to us and our reputation, rating agencies and third party environmental, social and governance certification agencies may consider publicly available data and information as part of their analysis and methodology. Any such information that adversely affects our reputation could be considered in the assessments by these agencies, potentially leading to increased scrutiny by investors and regulators, which could restrict access to financial markets and increase our cost of financing. See "—Risk Factors Related to Climate Issues—Deficient performance related to environmental, social and governance (ESG) criteria may adversely impact our reputation and could make it difficult for us to access financing, increase the cost of financing, reduce insurance options or increase the cost of insurance" below. Risk Factors Related to our Relationship with the Mexican Government The Mexican Government controls us, could transfer or reorganize our assets, or may limit our ability to satisfy our external debt obligations. We are controlled by the Mexican Government and our annual budget may be adjusted by the Mexican Government in certain respects. Pursuant to the Ley de la Empresa Pública del Estado, Petróleos Mexicanos (2025 Petróleos Mexicanos Law), we were transformed from a productive state-owned company to a state-owned public company on November 1, 2024. The 2025 Petróleos Mexicanos Law establishes a special regime governing, among other things, our budget, debt levels, administrative liabilities, acquisitions, leases, services and public works. This special regime provides us with technical and managerial autonomy, separate legal personality and, subject to certain restrictions, with additional autonomy with respect to our budget. Notwithstanding this autonomy, the Mexican Government still controls us and, subject to the approval of the Chamber of Deputies, has the power to adjust our targeted net cash flow for the fiscal year based on our projected revenues and expenses, as well as our annual wage and salary expenditures. Adjustments to our annual budget may hinder our ability to develop the reserves assigned to us by the Mexican Government, limit our ability to compete effectively with other oil and gas companies and adversely affect our ability to make payments on our outstanding indebtedness. Despite being wholly owned by the Mexican Government and receiving financial contributions to address our debt, our financial obligations do not constitute obligations of, and are not guaranteed by, the Mexican Government. See "—Risk Factors Related to our Relationship with the Mexican Government—Our financial obligations are not guaranteed by the Mexican Government" below.

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 11 of 128 The Mexican Government's agreements with international creditors may affect our external debt obligations. In certain past debt restructurings of the Mexican Government, our external indebtedness was treated on the same terms as the debt of the Mexican Government and other public-sector entities, and it may be treated on similar terms in any future debt restructuring. In addition, Mexico has entered into agreements with official bilateral creditors to reschedule public-sector external debt. The Mexican Government has not requested restructuring of bonds or debt owed to multilateral agencies. If the Mexican Constitution and federal law were amended, the Mexican Government would have the power to reorganize our corporate structure, including a transfer of all, or a portion of, our assets to an entity not controlled, directly or indirectly, by the Mexican Government. See "—Risk Factors Related to Mexico" below. Our financial obligations are not guaranteed by the Mexican Government. Although we are wholly owned by the Mexican Government, our financial obligations do not constitute obligations of, and are not guaranteed by, the Mexican Government. Accordingly, the Mexican Government has no legal obligation to make principal or interest payments on our debt, nor would any such obligation arise if we were unable to service our financial obligations. The Mexican Government may cease to support us. The Mexican Government made capital contributions to us of Ps. 380.1 billion (U.S.$20.6 billion) as of the nine-month period ended September 30, 2025, mainly to strengthen our financial condition. Given that the Mexican Government is not legally or contractually obligated to make such capital contributions to us or assist us in repaying our debt, it may cease to provide such support at any time. Any change in the Mexican Government's support of us, including as a result of liquidity constraints or a change in policy objectives, would have a material adverse effect on our financial condition and ability to repay our indebtedness, as well as on the market value of our debt securities. We pay significant taxes and duties to the Mexican Government, which may limit our capacity to expand our investment program or negatively impact our financial condition. We are required to make significant payments to the Mexican Government, including in the form of taxes and duties. For the nine-month period ended September 30, 2025, our total taxes and duties were Ps. 156.9 billion, representing 13.5% of our sales revenues in the form of taxes and duties, which constituted a substantial portion of the Mexican Government's revenues. Although the Mexican Government has previously granted us tax reductions, such as tax credits related to the Derecho por la Utilidad Compartida (Profit-Sharing Duty or "DUC") or temporary suspensions of the collection thereof, there can be no assurance that we will not be required to pay a larger portion of our sales revenue to the Mexican Government in the future, nor that tax collection will be suspended. On December 19, 2024, the Ley de Ingresos de la Federación para el Ejercicio Fiscal de 2025 (the "Federal Revenue Law") was published in the Diario Oficial de la Federación (the "Official Gazette of the Federation"). The Federal Revenue Law introduced changes to our fiscal regime and the Mexican Government may implement further changes in the future. See "Risk Factors Related to our Relationship with the Mexican Government" — "Recent changes to our fiscal regime may impact our ability to report our results of operations for future periods accurately and in a timely manner." We cannot provide any assurances that any future changes will be favorable to us. Any increase in the amount of payments we must make to the Mexican Government could limit our ability to make capital investments or expand our investment program and could have a negative adverse impact on our financial condition. Recent changes to our fiscal regime may impact our ability to report our results of operations for future periods accurately and in a timely manner. The Federal Revenue Law introduced changes to our fiscal regime aiming to simplify the fiscal framework and reduce the number of taxes and duties to which we are subject. Effective January 1, 2025, the Mexican Government consolidated the Profit- Sharing Duty and other taxes and duties payable by us into a new Derecho Petrolero Para el Bienestar ("Welfare Oil Duty"). This

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 12 of 128 duty is set at a general rate of 30% on oil and fuel production and 11.63% for non-associated gas. Additionally, as of January 1, 2025, Petróleos Mexicanos is no longer subject to income tax. However, we cannot assure that changes in our fiscal regime will not affect our ability to report our results of operations accurately and timely or comply with filing requirements with governmental authorities, including the U.S. Securities and Exchange Commission (SEC). This could limit our access to financial markets and hinder our ability to secure contracts, assignments, permits and other governmental authorizations necessary for participation in the oil and natural gas industry, thereby adversely affecting our business, results of operations and financial condition. Furthermore, there can be no assurances that our fiscal regime will not be further modified by the Mexican Government in the future. The Mexican Government could enter into agreements with other nations to limit production. Although Mexico is not a member of OPEC, from time to time it enters into agreements with OPEC and non-OPEC countries to reduce the global supply of crude oil. We do not control the Mexican Government's international affairs, and the Mexican Government could enter into further agreements with OPEC, OPEC+ or other countries to reduce our crude oil production or exports in the future. A reduction in our oil production or exports may have an adverse effect on our business, results of operations and financial condition. The Mexican nation, not us, owns the hydrocarbon reserves located in Mexico, and our right to continue to extract these reserves is subject to the approval of the Ministry of Energy. The Mexican Constitution provides that the Mexican nation, not us, owns all petroleum and other hydrocarbon reserves located in Mexican territory. Article 27 of the Mexican Constitution provides that the Mexican Government will carry out exploration and production activities through agreements with third parties and through assignments to and agreements with us. We and other oil and gas companies are allowed to explore and extract the petroleum and other hydrocarbon reserves located in Mexico, subject to assignment of rights by the Secretaría de Energía (Ministry of Energy) and entry into agreements pursuant to a competitive bidding process. Access to crude oil and natural gas reserves is essential to an oil and gas company's sustained production and generation of income, and our ability to generate income would be materially and adversely affected if the Mexican Government were to restrict or prevent us from exploring or extracting any of the crude oil and natural gas reserves that it has assigned to us. For more information, see "—Risk Factors Related to our Relationship with the Mexican Government—We must make significant capital expenditures to sustain our current production levels, and to maintain, as well as increase, the proved hydrocarbon reserves assigned to us by the Mexican Government. Reductions in our revenue, adjustments to our capital expenditures budget or an inability to obtain financing may limit our ability to make capital investments" below. Hydrocarbon reserves are based on estimates, which are uncertain and subject to revisions. The information on oil, gas and other reserves set forth in this report is based on estimates. Reserves valuation is a subjective process of estimating underground accumulations of crude oil and natural gas that cannot be measured in an exact manner. The accuracy of any reserves depends on the quality and reliability of available data, expert interpretation and subjective judgment. Additionally, estimates may be revised based on subsequent results of drilling, testing and production. These estimates are also subject to certain adjustments for changes in variables, including crude oil prices. Therefore, proved reserves estimates may differ significantly from the ultimately extract and recoverable quantities of crude oil and natural gas. Downward revisions in our reserve estimates could lead to lower future production, which could have an adverse effect on our results of operations and financial condition. See "—Risk Factors Related to our Operations—Crude oil, natural gas and petroleum products prices are volatile, and low crude oil, and natural gas prices adversely affect our income and cash flows and the

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 13 of 128 value of the hydrocarbon reserves that we have the right to extract and sell" above. We revise our hydrocarbon reserve estimates annually, which may result in material revisions to estimates contained in this report. Our ability to maintain our long-term growth objectives for oil production depends on our ability to successfully develop our reserves, and failure to do so could prevent us from achieving our long-term goals for growth in production. On December 20, 2024, the Mexican Government published the Organic Simplification Decree. As a result, the National Hydrocarbons Commission and the CRE were dissolved, and their regulatory functions were transferred to the Ministry of Energy. In accordance with the Organic Simplification Decree and the implementing Law of the National Energy Commission, a new deconcentrated body — the National Energy Commission — was created within the Ministry of Energy to assume the regulatory responsibilities previously held by the CRE and, in certain matters, the National Hydrocarbons Commission. Legal acts issued by the National Hydrocarbons Commission and CRE prior to their dissolution remain valid and binding, and contracts, agreements and other legal instruments continue to be effective and enforceable by the government entities or bodies that assumed their relevant functions, including the National Energy Commission. However, future procedures for auditing or adjusting our hydrocarbon reserves remain uncertain and may be subject to change under the new regulatory framework. Any request to adjust or revise our hydrocarbon reserve estimates could impact our ability to prepare our condensed consolidated interim financial statements not audited in a timely manner, which could, in turn, adversely affect our access to financial markets and our ability to secure contracts, assignments, permits and other authorizations necessary to participate in the oil and gas industry. This could have a material adverse effect on our business, results of operations and financial condition. We cannot assure you that our hydrocarbon reserve estimates will not be revised by the National Energy Commission or as a result of changes implemented under the Organic Simplification Decree and its related legislation, which may affect the reserve classification or revision process. For more information, see "Risk Factors Related to Mexico" — "The current Mexican Government administration has sufficient control in the Mexican Congress to implement constitutional reforms which, if effected, could have a material adverse impact on our business, financial position or operating results" below. We must make significant capital expenditures to sustain our current production levels, and to maintain, as well as increase the proved hydrocarbon reserves assigned to us by the Mexican Government. Reductions in our revenue, adjustments to our capital expenditures budget or an inability to obtain financing may limit our ability to make capital investments. Our ability to maintain or increase our crude oil production is highly dependent on our ability to successfully develop existing hydrocarbon reserves and, in the long term, on our ability to develop additional reserves. Therefore, we continually invest capital to enhance our hydrocarbon recovery factor and improve the reliability and productivity of our infrastructure. The development of the reserves assigned to us by the Mexican Government requires significant capital investments and poses significant operational challenges. Our right to develop such reserves is conditioned upon adherence to our development plans, which are formulated based on our technical, financial and operational capabilities at the time such reserves were assigned. We cannot provide assurances that we will have or will be able to obtain the necessary resources or technical capacity at the required time to explore and extract the reserves that the Mexican Government assigned to us or the reserves that the Mexican Government may assign to us in the future. In the past, we have reduced our capital expenditures in response to declining oil prices. If we are unable to increase our capital expenditures, we may not be able to develop the reserves assigned to us in accordance with our exploration and development plans. Additionally, if we fail to adhere to development plans, we could lose the right to continue to extract such reserves, which could in turn adversely affect our operating results and financial condition. Our ability to make capital expenditures is limited by the substantial taxes and duties that we pay to the Mexican Government, the ability of the Mexican Government to adjust certain aspects of our annual budget, fluctuations in our revenues related to lower oil prices and any other constraints on our liquidity. Our ability to undertake the necessary capital investments to maintain current production levels depends on the availability of financing. For more information on the liquidity constraints we are exposed to, see "—Risk Factors Related to our Operations—We have a substantial amount of indebtedness and other liabilities

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 14 of 128 and are exposed to significant liquidity constraints, which could make it difficult for us to obtain financing on favorable terms and could adversely affect our financial condition, results of operations and ability to repay our debt and, ultimately, our ability to operate as a going concern without additional support from the Mexican Government" above. In addition, we have entered into strategic alliances and other joint arrangements with third parties in order to develop our reserves. If our partners were to default on their obligations to us, we may be unable to maintain production levels or extract from our reserves. Moreover, we cannot assure you that these strategic alliances and other joint arrangements will be successful or reduce our capital commitments. For more information, see "—Risk Factors Related to Our Operations—We participate in strategic alliances and other joint arrangements, which may not perform as expected, and could harm our reputation, could have an adverse effect on our business, results of operations and financial condition" above. The Mexican Government has historically imposed price controls in the domestic market on our products. The Mexican Government has from time-to-time imposed price controls on the sale of natural gas, liquefied petroleum gas, gasoline, diesel, gas oil intended for domestic use, fuel oil and other products. As a result, we have not always been able to fully pass on price increases to our customers in the domestic market. In 2017, the Mexican Government began gradually removing price controls on gasoline and diesel as part of the liberalization of fuel prices in Mexico. As of the date of this report, sales prices of gasoline and diesel are determined by the free market. However, control mechanisms have been established, such as the agreement issued by the Federal Executive, which establishes a maximum price per liter for regular gasoline. We do not have control over the Mexican Government's domestic policies, and the Mexican Government could reintroduce price controls in the domestic market in the future. The imposition of such price controls would adversely affect our results of operations Risk Factors Related to Mexico Economic conditions and government policies in Mexico and elsewhere may have a material impact on our operations. A deterioration in Mexico's economic condition, social instability, political unrest or other adverse social developments in Mexico could adversely affect our business and financial condition. These circumstances could also lead to increased volatility in exchange rates and financial markets, thereby restricting our ability to secure new financing on favorable terms or at all and service our debt. In the past, the Mexican Government has implemented budget cuts in response to declining international crude oil prices and global economic conditions, and it may reduce our budget in the future. Any such budget cuts could adversely affect the Mexican economy and, consequently, our results of operations, and ability to service our debt. See "Risk Factors — Risk Factors Related to our Relationship with the Mexican Government—The Mexican Government controls us, could transfer or reorganize our assets, or may limit our ability to satisfy our external debt obligations" above. Mexico has experienced periods of economic contraction or low growth, high inflation, elevated interest rates, currency devaluation and other economic challenges. These conditions may worsen or recur in the future and could adversely affect our financial condition, as well as our ability to service our debt, particularly in the absence support from the Mexican Government. A deterioration in international financial or economic conditions, whether due to a slowdown in growth or recessionary conditions affecting Mexico's trading partners, including the United States, or as a result a new financial crisis, could have adverse effects on the Mexican economy, the Mexican Government's ability to support us, our financial condition and our ability to service our debt. Economic and political developments in Mexico and the United States may adversely affect Mexican economic policy and, in turn, our operations.

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 15 of 128 Federal elections were held in Mexico and in the United States on June 2, 2024, and November 5, 2024, respectively. In Mexico, Claudia Sheinbaum Pardo was elected president and assumed office on October 1, 2024. In the United States, Donald J. Trump won the election and assumed the presidency on January 20, 2025. Economic conditions in Mexico are highly correlated with economic conditions in the United States due to geographic proximity and the high degree of commercial and economic interdependence between the two countries. Accordingly, political developments in the United States, including changes in American administrations and U.S. government policies, including fiscal, tariff, immigration policies, among others, can influence the exchange rate between the U.S. dollar and the Mexican peso and adversely affect economic conditions in Mexico. In addition, given that the Mexican economy is heavily related with the U.S. economy, policies that are unfavorable to Mexico or a deterioration in U.S.-Mexico relations may adversely affect Mexico's economy. We cannot provide any assurances that political developments in Mexico and the United States, over which we have no control, will not have a material adverse effect on our results of operations and financial condition, including our ability to repay our debt. Changes in global trade policy could adversely the Mexican economy and, in turn, our operations and financial condition. During the first nine-month period ended September 30, 2025, our export sales to the United States amounted to Ps. 322.7 billion, which represented 27.7% of our total revenues and 75.2% of our export sales for the year. With limited exceptions, exports of petrochemical products from Mexico to the United States have been free or exempt from tariffs since 2003 under the North American Free Trade Agreement and the United States-Mexico-Canada Agreement (the "USMCA") that replaced it on July 1, 2020. While petrochemical exports from Mexico to the United States remain exempt from tariffs under the USMCA, any shift in trade relations among Mexico, the United States and Canada resulting from the implementation of tariffs or the renegotiation of the USMCA could require us to renegotiate our contracts or lose business, which could in turn result in a material adverse impact on our business and results of operations. During 2025, the U.S. government has made changes to its international trade policy and, in some cases, has expressed interest in renegotiate or potentially terminate certain existing trade agreements. In addition, the U.S. government recently imposed tariffs on certain goods, including steel and aluminum, affecting several sectors; has announced new baseline tariffs applicable to all of its trading partners and has indicated a willingness to impose tariffs on other products, including a possible raising tariffs on imports from Mexico. In response, Mexico has considering the possibility of reciprocal responses, but not yet enacted or confirmed, in imposing tariffs on certain U.S. products. Disruptions to global trade, the introduction of barriers and bilateral frictions, together with any future downturns in the global economy resulting therefrom, could adversely affect our financial condition, results of operations and ability to repay our debt. The macroeconomic environment in which we operate is beyond our control and may become less favorable in the future. There can be no assurances that the USMCA will not be renegotiated, nor that U.S.-Mexico trade relations will not deteriorate and result in the imposition of trade barriers on the products that we produce and sell. A trade dispute between the United States and Mexico may have negative effects on the Mexican economy, exchange rates, inflation and economic prospects, which may in turn negatively affect our business and results of operations. Mexico has experienced a period of heightened criminal activity, which could affect our operations. In recent years, Mexico has experienced a period of heightened criminal activity, primarily due to the activities of drug cartels and related criminal organizations. Particularly, the development of an illicit fuel market in Mexico has led to heightened theft and illegal trading of fuels that we produce, as well as the theft of our equipment and materials. In response, the Mexican Government has implemented various security measures and has strengthened its military and police forces. We have also continued to adopt strategic measures to reduce theft and other criminal activities targeting our facilities and products. However, criminal activity remains prevalent in Mexico and is likely to persist. In this regard, crimes involving the theft and trade of hydrocarbons with tax evasion have been identified. Criminal activities, along with the associated damage to human life and

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 16 of 128 property, may disrupt operations, interrupt the supply and distribution of our products, lead to significant economic losses, and negatively impact our business continuity, financial condition and results of operations. Changes in Mexico's exchange control laws may hamper our ability to service our foreign currency debt. The Mexican Government does not restrict the ability of Mexican companies or individuals to convert pesos into other currencies. However, we and certain other Mexican Government entities are required to buy and sell our foreign currency with Banco de México (the "Mexican Central Bank") in accordance with its terms and conduct all foreign currency transactions in compliance with its regulations. We cannot provide assurances that the Mexican Government will maintain its current policies regarding the peso. The Mexican Government has imposed foreign exchange controls in the past and could do so again in the future. If imposed, Mexican Government policies preventing us from exchanging pesos into U.S. dollars could hamper our ability to service our debt, the majority of which is denominated in currencies other than pesos, and other foreign currency obligations. The current Mexican Government administration has sufficient control in the Mexican Congress to implement constitutional reforms which, if effected, could have a material adverse impact on our business, financial position or operating results. The political coalition led by Mexico's National Regeneration Movement (Movimiento de Regeneración Nacional or "Morena") party has sufficient control in the Mexican Congress and several state legislatures to implement significant reforms, including amendments to the Mexican Constitution. The 2024 Mexican federal election strengthened Morena's political position, as it won the presidency and obtained a qualified majority in the lower chamber of the Congress and the Senate. The new Congress assumed office on September 1, 2024, and the new president, Claudia Sheinbaum, assumed office on October 1, 2024. The concentration of political power in Mexico and any changes in Mexican politics or the Mexican economy resulting therefrom could have a material adverse impact on our business, results of operations, financial condition and Pemex's ability to meet its obligations. We cannot predict the nature or viability of any future legal or constitutional reforms or when or how they might be implemented. We cannot provide any assurances that these changes will not adversely affect the Mexican economy or our business, financial condition, results of operations and, ultimately, our ability to pay our debt when due. Risk Factors Related to Climate Issues Environmental regulations, including those aimed at mitigating climate change, could result in material adverse effects on our results of operations. A wide range of general and industry-specific environmental laws and regulations apply to our operations. This regulatory framework is continuously evolving and has become increasingly strict and costly. Compliance with these regulations entails significant operational and capital expenditures and limits our ability to extract hydrocarbons, resulting in lower revenues. Failure to comply could lead to substantial fines, operational restrictions, and adversely affect our profitability and financial performance. In addition, noncompliance with applicable regulatory requirements or poor environmental performance may damage our reputation and may limit our ability to access financing on favorable terms or at all. Global efforts aimed at reducing greenhouse gas emissions, decarbonizing the economy and limiting global warming have led to an increased regulatory and financial burden for companies in the energy sector. This could result in additional capital requirements over the medium- to long-term to execute projects included in transition plans, as well as economic losses arising from legal liabilities, trade restrictions or, ultimately, the mandatory shutdown of our facilities.

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 17 of 128 We are exposed to severe natural and weather conditions, which may be exacerbated by climate change. Our facilities and operations are exposed to physical risks from extreme weather events, such as floods, hurricanes, wildfires, droughts, extreme weather conditions, among others; as well as long-term hazards, such as sea level rise, changes in precipitation patterns and increases in global average temperatures. Climate change has intensified the frequency and severity of adverse weather conditions, which could cause severe damage to our key facilities, disrupt our operations, reduce our production capacity and increase operational and maintenance costs. Adapting and protecting our assets from these risks may increase our costs and expenses and, in turn, could adversely affect our financial condition and limit our ability to invest in strategic projects. Growing international concern over climate change could adversely impact the value of our assets, our strategies and our results of operations. In the context of the global transition to a low-carbon economy, we face growing regulatory and financial challenges. Climate change mitigation policies, such as carbon taxes, cap-and-trade schemes and new energy efficiency requirements, may increase our operational costs and adversely affect our financial condition. International agreements, such as the Paris Agreement adopted by the Mexican Government, include commitments to reduce greenhouse gas emissions, which could result in additional restrictions on the exploration, production, and refining of hydrocarbons. Measures taken in response to these commitments could increase our costs and expenses. Additionally, such measures may boost a shift in consumer demand from petroleum-based fuels toward lower-carbon alternatives, adversely affecting our operations, financial results and long-term viability. Our failure to implement a successful energy transition plan may damage our reputation, increase regulatory scrutiny and reduce our ability to contract with third parties or obtain financing in favorable terms. In addition, global decarbonization could negatively impact on our business due to technological changes, such as the proliferation of cheaper renewables, making oil-based energy comparatively less profitable. Other risks include increasing consumer pressure for sustainable products and possible structural changes in the market, such as sharp drops in hydrocarbon product prices. All these factors may have an adverse effect on our business, results of operations and financial condition. Deficient performance related to environmental, social and governance (ESG) criteria may adversely impact our reputation and could make it difficult for us to access financing, increase the cost of financing, reduce insurance options or increase the cost of insurance. In recent years, our financial counterparties, including investors, lenders and insurance companies, have expressed interest in our performance regarding ESG criteria. ESG considerations encompass: (i) social challenges such as improving our practices regarding human rights, worker health and protection, fair employment practices and culture of gender equality; (ii) environmental challenges such as reducing our greenhouse gas and air pollutant emissions, improving our effluent treatment systems, hazardous waste management and complying with admissible water discharge parameters; and (iii) corporate governance practices to integrate senior management decision-making, risk management and internal control processes. While U.S. regulators have in past years called for increased ESG disclosure, it is expected that federal ESG-related regulations under the current U.S. presidential administration will deprioritize disclosure or mandate the abandonment of ESG programs, while regulations at the state level will vary. For fiscal year 2025, we have to file with the Bolsa Mexicana de Valores, S. A. B. de C. V. (Mexican Stock Exchange) an ESG report in accordance with IFRS S1 about Sustainability and IFRS S2 about Climate. Failure to adapt to or comply with regulatory requirements or evolving investor or stakeholder expectations and standards for ESG practices may harm our reputation and ability to access capital, which may, in turn, have an adverse impact on our results of operation and financial condition.

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 18 of 128 Risk Factors Related to the Certificados Bursátiles. Secondary Market for the Certificados Bursátiles. Currently, Certificados Bursátiles (peso-denominated publicly traded notes) present low operation levels in the secondary market and the Company cannot provide assurances that there will be a sustained development of said market. These notes have been registered in the Registro Nacional de Valores (Mexican National Securities Registry, RNV) and are traded in the Bolsa Mexicana de Valores, S.A.B. de C.V. (Mexican Stock Exchange, or BMV). Notwithstanding, the Company cannot provide assurances that there will be an active market to trade these Certificados Bursátiles, or that they will be traded at par or above its initial offering. The previous could limit the holders' capacity to sell them at the price, moment and amount that they may wish to. Therefore, potential investors must be prepared to assume the risk in investing in Certificados Bursátiles until their maturity. To promote liquidity to Certificados Bursátiles, in November 2013, the Company established a Market-Makers Program for its peso-denominated Certificados Bursátiles at fixed and floating rates. This program is directed to financial institutions under applicable laws and with regard to the operating rules set forth by the Company in its website. Financial obligations compliance. The Company considers it has fulfilled in a timely and orderly manner, with the reports registered with the SEC and every requirement from said authority. The Company is aware of both the principal payment and the interest generated by those securities. The Company files with the SEC its Annual Report in the 20-F Form. Additionally, the Company provides information regarding relevant events and quarterly reports (current quarter as compared to same quarter of the previous year) to foreign investors that it files with Mexican regulators Comisión Nacional Bancaria y de Valores (National Banking and Securities Commission, or the CNBV) and BMV, through the filing of Forms 6-K with the SEC. The Company considers it has fulfilled in a timely and orderly manner, with the quarterly reports and information regarding relevant events that it files with Mexican regulators BMV and CNBV. In addition, the company has presented copy of corresponding quarterly reports to the Luxembourg Stock Exchange and Switzerland's Stock Exchange, regarding the securities listed in every one of them. The Company considers it has delivered in a timely and orderly manner, for the last three years, the reports that Mexican and foreign legislation require it to do, regarding periodic information and relevant events. Use of Proceeds. The total amount of resources obtained from the Company's issuance of Certificados Bursátiles have entered the Company's treasury and were allocated in accordance to the company's. Public Domain Documents. This quarterly report can be accessed through the CNBV's information center, on its website, www.cnbv.gob.mx, and in the BMV, on its website, www.bmv.com.mx, or at the company's website, www.pemex.com. In addition, any public information that the Company has delivered to national and foreign securities regulators under the Ley del Mercado de Valores (Securities Market Law) and other applicable normativity can be accessed at the Company's website, www.pemex.com and be obtained as per request of any investor through a written request to the Company, located at Avenida Marina Nacional No. 329, Torre

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 20 of 128 Dry gas production averaged 1,747 MMcfd, down 29 MMcfd from 3Q24, mainly due to reduced feedstock availability at the Cactus, Ciudad Pemex, and Burgos gas processing complexes. Upstream 3Q 24 3Q 25 Variation Total hydrocarbons (MMboed) 2,502 2,387 -4.6% (115) Liquid hydrocarbons (Mbd)[1] 1,776 1,656 -6.7% (120) Crude oil production 1,764 1,648 -6.6% (116) PEMEX's production 1,758 1,641 -6.7% (118) Business partners' production 5 8 39.7% 2 Condensates 12 8 -35.6% (4) Natural gas (MMcfd)[2] 4,539 4,651 2.5% 112 PEMEX's production 4,480 4,614 3.0% 134 Business partners' production 59 37 -36.9% (22) Downstream 3Q 24 3Q 25 Variation Crude Oil Processing (Mbd) 962 1,009 4.8% 47 Dry gas from plants (MMcfd) 1,776 1,747 -1.6% (29) Natural gas liquids (Mbd) 156 128 -18.1% (28) Petroleum products (Mbd) 930 1,001 7.6% 71 [1] Crude oil and condensates [2] Does not Include nitrogen. Includes production from business partners. EXPLORATION AND EXTRACTION 3Q25 Crude oil Production Maintaining base production and incorporating new output remain key factors in meeting operational targets and strengthening the company's long-term viability. In this context, well interventions continue to be essential activities to sustain and increase hydrocarbon production. During 3Q25, PEMEX maintained its strategy to preserve base production through 379 minor repairs and 161 stimulations. Additionally, 20 well completions and 35 major repairs were carried out to incorporate incremental production. As a result, crude oil production, including partner volumes, averaged 1,648 Mbd, representing a decline of 116 Mbd compared with the same quarter of 2024. This performance mainly reflected the natural decline of the Quesqui, Tupilco Profundo, Zaap, and Maloob fields; increased operational complexity in high-pressure, high-temperature (HPHT) wells; delays in offshore infrastructure installation at the Xanab and Quesqui fields; and atypical weather conditions that temporarily affected offshore operations. Of total production, 64% corresponded to shallow-water fields and 36% to onshore fields. By crude type, 50% was heavy, 24% light, 10% super light, and 16% condensate. The Ku-Maloob-Zaap, Cantarell, and Abkatún-Pol Chuc assets accounted for 68% of total crude oil production. Hydrocarbon Gas Production During 3Q25, hydrocarbon gas production averaged 3,730 MMcfd, a decrease of 19 MMcfd compared with the same period of 2024, attributable to the natural decline of mature fields and delays in infrastructure development in producing areas, which limited the capacity to offset the reduction in volumes. Of total hydrocarbon gas output, 35% came from shallow-water fields and 65% from onshore fields.

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 21 of 128 The start-up of the Bakté field and new wells in Ixachi helped partially mitigate this decline, reflecting progress in the onshore production strategy. Non-associated gas production increased by 110 MMcfd (5.8%), mainly driven by higher volumes from Ixachi and other onshore fields. Of total non-associated gas production, 35% originated from shallow-water fields and 65% from onshore areas. Gas Utilization During 3Q25, gas utilization reached 93.0%, a decrease of 2.1 percentage points compared with the same period of 2024. This variation was concentrated in the Southern Region due to gas rejection at the Nuevo Pemex Gas Processing Complex, which faced limitations in processing sour wet gas from the Bakté field. Infrastructure During 3Q25, 16 development wells were completed, 11 fewer than in the same period of 2024. Regarding exploratory wells, 4 were completed, representing a decrease of two wells compared with the third quarter of the previous year. Discoveries During 3Q25, the analysis of three exploratory wells in the Marina Sur and Terrestre Sur assets revealed significant potential in preliminary 3P reserves. The Xomili-1 well, located in the Uchukil project, is in the evaluation stage and produces 35° API oil, with an estimated 12 MMboe in 3P reserves. Meanwhile, the Iklum-1A well, in the Cuichapa project, was a producer of 45° API gas condensate, with an estimated 111 MMboe in 3P reserves — making it the largest contributor. Finally, the Bakte-1DEL well, part of the Comalcaco project, provides an additional preliminary 3P reserve estimate of 17 MMboe. Altogether, the combined preliminary estimate amounts to approximately 140 MMboe, consolidating an opportunity to increase the reserve base and strengthen future production. Initial production Asset Project Well Geological age bpd MMcfd Water depth (m) Hydrocarbon type Completion date Remarks Southern Offshore Exploration Asset Uchukil Xomili-1 Upper Miocene 1,670 1.17 35.6 Oil Under evaluation The well is in the testing stage, producing 35° API oil; preliminary 3P reserve estimate: 12 MMboe. Southern Onshore Exploration Asset Cuichapa Iklum-1A Middle–Lower Cretaceous 1,564 37.05 N/A Gas condensate July 16, 2025 The well produced 45° API gas condensate; preliminary 3P reserve estimate: 111 MMboe. Southern Onshore Exploration Asset Comalcalco Bakte-1DEL Cretaceous 2,812 39.81 N/A Gas condensate August 11, 2025 The well produces 45° API gas condensate; preliminary additional 3P reserve estimate: 17 MMboe.

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 22 of 128 INDUSTRIAL PROCESSES 3Q25 Crude Oil Processing In the third quarter of 2025, crude oil processing in the National Refining System (NRS) averaged 1,009 Mbd, a 47 Mbd increase (4.8%) compared to the same quarter in 2024. This increase is primarily due to the sustained operational performance of NRS, further enhanced by the commissioning of two processing trains at the Olmeca refinery. Petroleum Products Production In the third quarter of 2025, petroleum product output averaged 1,001 Mbd, a 71 Mbd increase (7.6%) compared to the same period in 2024. The production basket included 344 Mbd of gasoline, 235 Mbd of diesel, 42 Mbd of jet fuel, and 380 Mbd of other petroleum products and LPG. In this regard, the yield of gasoline, diesel, and jet fuel increased by 9.3 percentage points compared to the same period in 2024, rising from 52.7% to 62.0%, as a result of improved reliability of processing plants due to the rehabilitation program of the NRS. PEMEX Service Stations As of September 30, 2025, a total of 7,358 service stations were operating under the PEMEX Franchise, representing a 1% increase compared to the same date in 2024. Of these, 7,171 stations are operated by third parties, while 45 are owned by PEMEX and serve as self-consumption stations. Additionally, 1,155 service stations were operating under a brand sublicensing scheme, and 6,274 stations operated under non-PEMEX brands, supplied either by PEMEX or through direct imports. Related parties Related parties include individuals and companies that do not form part of PEMEX, but that could take advantage of being in a privileged position as a result of their relation with PEMEX. Also included are situations in which PEMEX could take advantage of a special relationship in order to benefit its financial position or results of operations. Mrs. Emilia Esther Calleja Alor, Chief Executive Officer of CFE, was appointed member of the Board of Directors of Petróleos Mexicanos in accordance with the Article 18 Fraction V of the Ley de la Empresa Pública del Estado, Petróleos Mexicanos. CFE has executed several purchase agreements with Industrial Processes and Energy Transformation. As of September 30, 2025, the amount of operations held is Ps. 24.2 billion and the balance receivable is Ps. 8.8 billion. Natural Gas Processing and Production During 3Q25, the processing of wet gas averaged 2,230 MMcfd, a decrease of 44 MMcfd compared to the same period in 2024. This variation reflects a 31 MMcfd increase in sour wet gas production in the Southeast region, offset by a 78 MMcfd decline in sweet wet gas production in the Northern region, mainly from the Burgos asset. The production of dry gas averaged 1,747 MMcfd, 29 MMcfd lower year over year, due to reduced availability at the Cactus, Ciudad Pemex, and Burgos Gas Processing Complexes. Regarding gas liquids, production declined by 28 Mbd, primarily impacted by lower output at Nuevo Pemex and Burgos. Finally, the processing of condensates averaged 9 Mbd, nearly 5 Mbd lower than in the same period last year, mainly due to lower receipts of both sour and sweet condensates.

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 23 of 128 Environmental, Social & Governance Criteria 3Q25 Environmental Carbon Dioxide Equivalent Emissions During 3Q25, carbon dioxide equivalent (CO2e) emissions reached 16.5 MMt, representing an increase of 15.4% compared to the same period in 2024. Although the partial restoration of cogeneration steam supply at one of the gas processing complexes helped to limit flaring, this source of emissions remains present. By the end of August, the National Natural Gas Control Center (CENAGAS) authorized a higher volume of gas injection into distribution pipelines in Veracruz, which will help reduce flaring in the Exploration and Extraction (E&E) region. However, emissions in the area remained above typical levels during the quarter. Methane Emissions During the period, methane emissions totaled 179.8 Mt, a 25% increase compared to the same period in 2024, mainly due to incomplete combustion in flare systems, higher volumes of gas sent to these systems, and the incorporation of new wells in Exploration and Extraction. Sulfur Oxide Emissions During the quarter, sulfur oxide (SO?) emissions amounted to 327 Mt, a 0.1% reduction compared to the same period in 2024. This result reflects improvements in recovery systems at refining facilities, progress in the rehabilitation of gas processing operations, and continued reductions in Exploration and Extraction. Water Reuse During 3Q25, the ratio of reused water to total water use decreased by 36.6% compared to the same period in 2024, reflecting a 38% reduction in the volume of reused water (7.21 MMm³). Although water reuse increased at the wastewater treatment plants in Salamanca (49%) and Tula (6%), these gains did not offset declines at the Madero and Cadereyta facilities, where operational failures and pending rehabilitation work significantly reduced treatment capacity. Energy Consumption During 3Q25, total energy consumption amounted to 119.9 petajoules (PJ), a 4.2% decrease compared to the same period in 2024, mainly due to lower extraction and crude processing volumes, which declined by 6.0% and 4.0%, respectively. Initiatives for Atmospheric Emissions Reduction and Climate Change Adaptation  Emissions Trading System (ETS). During the quarter, the facilities participating in the pilot phase of the ETS completed the submission of verified inventory reports. The Advisory Committee resumed its sessions to review proposals for the operational phase, which will continue into the fourth quarter.  Greenhouse Gas (GHG) Emissions. Maintenance work on sour vapor recovery systems advanced across logistics operations, helping to eliminate one of the main sources of GHG emissions. By 3Q25, the intermittent operation of these systems has enabled a significant reduction in emissions, including in refining and petrochemical processes.  Gas Utilization. Infrastructure for gas handling and recovery in Exploration and Extraction was strengthened, highlighting the rehabilitation of compressors, the commissioning of new facilities, and the reactivation of boosters.

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 24 of 128  Methane Emissions. Leak detection and repair programs continued in offshore and onshore facilities, in compliance with ASEA regulations. As part of the "Zero Routine Flaring by 2030" initiative, PEMEX presented projects with potential to reduce emissions to the World Bank, following technical visits to Bellota, Paredón, and Tula.  Climate Change Adaptation. Climate risk assessments were completed for the Burgos, Arenque, and Poza Rica Gas Processing Complexes (CPG), while similar studies advanced at the Matapionche and Ciudad Pemex CPGs, as well as at the Cangrejera Petrochemical Complex and the Salamanca, Minatitlán, Tula, and Cadereyta refineries.  Follow-up on the Critical Risk Management Program. Of the 240 identified environmental risks, 27.9% have been resolved, 25% are in progress, and 26.3% have active work plans. Among Priority 1 risks, 51.2% have been addressed, 31.7% (13) are in progress, and 9.8% (4) are in the contracting stage. The estimated investment for their comprehensive mitigation amounts to Ps. 15.5 billion, focused on reducing impacts on soil, water, and air. Social Occupational Health and Industrial Safety PEMEX reaffirms its commitment to comprehensive risk management through the continuous strengthening of its industrial safety and occupational health systems. The corporate strategy focuses on the identification, assessment, and control of critical risks, with an emphasis on incident prevention and the protection of strategic assets. These actions contribute to ensuring safe operations, operational continuity, and the safeguarding of human capital, in alignment with the company's principles of sustainability and corporate responsibility. Frequency Index As of 3Q25, the frequency index for PEMEX personnel stood at 0.29 accidents per million man-hours worked with exposure to risk, a 17% decrease compared to the 0.35 recorded in the same period of the previous year. During the third quarter, 27 workers were injured across various PEMEX business lines. Industrial Processes reported the highest number of cases, with 10 incidents at facilities such as the Cosoleacaque Gas Processing Complex and several refineries. Exploration and Extraction recorded seven injuries, mainly in drilling, production, and safety activities. Administration and Services reported five cases in healthcare and asset areas. Logistics registered three incidents in regional and maintenance departments, while Energy Transformation reported two cases at the Nuevo Pemex Gas Processing Complex. Severity Index As of 3Q25, the cumulative severity index for PEMEX personnel stood at 14 lost workdays per million man-hours worked with exposure to risk, a 44% reduction compared to the 25 lost workdays recorded in 2024.In all moderate and serious incidents, Petróleos Mexicanos conducts a root cause analysis to identify the underlying causes and define corrective actions to prevent recurrence. In the case of very serious incidents, the analyses have been carried out by independent national or international investigators, ensuring full transparency and helping to strengthen the PEMEX SSPA System and accountability to stakeholders.

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 25 of 128 Safety, Occupational Health, and Environmental Protection Initiatives During the quarter, various evaluation and performance monitoring activities were carried out under the SSPA framework, including the following: • Second-Party Audit on SSPA Performance - An audit was conducted at the Southern Onshore Oil Operations Submanagement in Cárdenas, resulting in 13 non- conformities. • Critical Event Management - Participation took place in the Root Cause Analysis (ACR) related to the incident at the Cosoleacaque Processing Center, where five workers sustained burns caused by splashes of hot chemical substances while handling a valve. - The ACR corresponding to the fatality that occurred during an earthquake at the Salina Cruz Refinery was reviewed. - Follow-up was provided on the recommendations derived from the ACRs of Teotleco 101DL, Akal-B, and Nohoch-A, including the submission of supporting evidence of compliance. • Verification Program for Low-Performance Work Centers - Implementation continued for the verification program aimed at reducing accident rates in work centers with poor SSPA performance. During the quarter, verification visits were conducted at several Logistics facilities. • Inventory of Safety and Reliability Risks - As of 3Q25, 86% of the industrial safety risk inventory (743 of 864) has been addressed. The remaining 121 risks have active mitigation and monitoring programs in place until full resolution. Work continues on risks identified in previous years. - The estimated investment required to address the entire inventory amounts to Ps. 23.3 billion, of which Ps. 6.2 billion corresponds to the pending risks. Social Responsibility During 3Q25, PEMEX implemented 85 Programs, Works, and/or Actions (PROA), 20 donations, and one Mutual Benefit Project (OBM) as part of its social responsibility strategy in communities with operational presence. Social investment totaled Ps. 639 million, directed toward projects in health, education, basic infrastructure, environmental protection, public safety, and institutional strengthening, based on territorial diagnostics. Interventions were carried out across 12 strategic federal entities, selected for their operational relevance and historical ties to the company. This targeted approach enabled support for communities facing greater social challenges, strengthening local capacities and contributing to territorial development, in alignment with the Sustainable Development Goals (SDGs).

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 26 of 128 Donations OBM PROA Total investmentState # Ps. million # Ps. million # Ps. million Ps. million BCS 1 6.1 - - - - 6.1 Campeche 2 48 - - 1 2.9 50.8 Chiapas 0 - - - 8 27.6 27.6 Guanajuato 1 23.3 - - 1 1.8 25.1 Guerrero 1 12.3 - - - - 12.3 Hidalgo 0 - - - 21 46.3 46.3 México 2 6.5 - - - - 6.5 Oaxaca 9 93.4 - - 10 29.4 122.8 Puebla 2 9.1 - - 3 10.3 19.3 Tabasco 0 - 1 20 23 172 192 Tamaulipas 0 - - - 1 1.4 1.4 Veracruz 2 21.3 - - 17 107.2 128.6 Total 20 220 1 - 85 398.9 638.8

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 27 of 128 The following are some of the most relevant PROAs implemented during the quarter, organized according to the Sustainable Development Goals (SDGs) that guide the company's social responsibility strategy. Sustainable Development Goal PROAs SDG 2 Zero Hunger · PEMEX supported rural producers and entrepreneurs in Oaxaca and Campeche through productive projects and community equipment, rehabilitating storage spaces, fairs, and training areas. These actions strengthen the local economy, promote self-sufficiency, and generate employment in communities with agricultural and fishing activities. SDG 3 Good Health and Well- Being · PEMEX provided free medical services to rural and semi-urban communities through mobile medical units and health brigades in Tabasco, Veracruz, Campeche, and Oaxaca. These included consultations, preventive exams, and vaccination campaigns. In addition, health infrastructure was strengthened with equipment, supplies, and ambulance donations, improving healthcare delivery and emergency response capacity. SDG 4 Quality Education · Furniture and equipment were delivered in Tabasco; classrooms and sports facilities were rehabilitated in Veracruz; and educational materials were provided in Campeche and Tamaulipas, benefiting students at the basic, technical, and upper secondary levels in high-marginalization areas. SDG 16 Peace, Justice and Strong Institutions · In collaboration with local authorities, PEMEX delivered emergency vehicles, equipment, and logistical support in Tabasco and Tamaulipas, strengthening the operational capacity of public safety and civil protection agencies. These actions improved emergency response and contributed to public safety for thousands of residents. Governance During 3Q25, PEMEX continued implementing the "Pemex Cumple" Compliance Program. The program promotes corruption risk prevention, accountability, and the development of a sustainable organizational environment through actions that strengthen social responsibility, institutional capacity, and commitment to ethical values.  Training A total of 1,980 employees received training through courses aimed at strengthening ethical culture and preventing corruption.  Due Diligence Opinions Through the Due Diligence System, 862 requests were received for the issuance of due diligence opinions, of which 823 were addressed, mainly related to the execution of commercial agreements with third parties.  Promotion of Compliance in Transparency, Access to Information, and Personal Data Protection

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 29 of 128 These effects were partially offset by lower sales, higher impairment of financial assets, derivative losses, and increased taxes. Financial Debt As of September 30, 2025, total financial debt recorded U.S. $100.3 billion. Translated at an exchange rate of Ps. 18.3825 per U.S. $1.00, this amounts to approximately Ps. 1,843 billion. Financial Resources PEMEX has revolving credit facilities for liquidity management of up to U.S. $5.7 billion and Ps. 20.5 billion. As of September 30, 2025, U.S. $4.2 billion and Ps. 20.5 billion were available. EBITDA EBITDA amounted to Ps. 58.4 billion, a Ps. 27 billion decrease as compared to the third quarter of 2024. CAPEX As of September 30, 2025, capital expenditure amounted to Ps. 110.6 billion. Consolidated Income Statement from July 1 to September 30, 2025 Total Revenues from Sales and Services Total sales and services revenue amounted to Ps. 378.9 billion, representing an 11.1% decrease compared to the third quarter of 2024. This variation was primarily driven by:  a 21.5% decrease in export sales value, mainly due to lower crude oil export volumes and lower prices; and  a 4.2% decrease in domestic sales, due to a volume decrease in magna value, resulting from lower sales volumes of regular gasoline, diesel, and fuel oil sold. Cost of Sales Cost of sales, including fixed asset impairment, totaled Ps. 341.6 billion, a 10.3% decrease. This variation was primarily driven by:  a Ps. 38.3 billion decrease in product purchases;  a Ps. 5.8 billion decrease in extraction and exploration duties due to the elimination of these duties starting in 2025;  a Ps. 21.9 billion decrease in fixed asset impairment, resulting from a lower discount rate applied; partially offset by  a Ps. 5.8 billion increase in exploration expenses and unsuccessful wells;  a Ps. 5.4 billion increase in conservation and maintenance expenses;  a Ps. 3.3 billion increase in taxes on domestic sales;  a Ps. 7.1 billion increase in other operating expenses;  a Ps. 3.2 billion increase in auxiliary services paid to third parties. Taxes and Duties During 3Q25, total taxes and duties amounted to Ps. 47.7 billion, including the Oil Welfare Duty, compared to a credit of Ps. 6.0 billion in the same period of 2024. This increase was mainly due to the application of the tax incentive established by the decree dated August 23, 2024, which granted a 100% tax credit on the provisional payments of the Profit-sharing Duty corresponding to the months of May, June, and July 2024. As a result, the tax expense for the quarter showed a significant increase. Net Income Evolution (Loss) In the third quarter of 2025, PEMEX recorded a net loss of Ps. 61.2 billion, compared to a net loss of Ps. 161.5 billion in 3Q24.

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 30 of 128 The main factors contributing to this variation were: i) a decrease in cost of sales; ii) a decrease in fixed asset impairment; iii) an increase in foreign exchange gains; partially offset by iv) a decline in sales; v) an increase in financial asset impairment; vi) higher costs associated with derivative financial instruments; and vii) an increase in taxes and duties. During the quarter, a foreign exchange gain of Ps. 33.4 billion was recorded, compared to a foreign exchange loss of Ps. 130.1 billion in 3Q24. This variation was driven by the appreciation of the Mexican peso against the U.S. dollar in 3Q25, in contrast to the depreciation observed during the same period of the previous year. The exchange rate moved from Ps. 18.8928 per U.S. $1.00 on June 30, 2025, to Ps. 18.3825 per U.S. $1.00 on September 30, 2025, representing a 2.7% change. Additionally, the cost of Ps. 2.8 billion was recorded for derivative financial instruments in 3Q25, compared to a profit of Ps. 2.5 billion in 3Q24. This change is mainly explained by the fair value effect of cross-currency swaps, currency options, and crude oil options. Comprehensive Income (Loss) In 3Q25, comprehensive income totaled Ps. 175.8 billion, primarily driven by actuarial losses resulting from a decrease in the discount rate from 10.30% as of June 30, 2025, to 9.75% as of September 30, 2025, and negative foreign currency translation effects totaling Ps. 13.7 billion, associated with the depreciation of the U.S. dollar against the Mexican peso. Consolidated Balance Sheet as of September 30, 2025 Working Capital As of September 30, 2025, a negative working capital of Ps. 463.8 billion was recorded, compared to a negative working capital of Ps. 768.0 billion as of December 31, 2024. This positive variation of Ps. 304.2 billion was mainly driven by:  an increase in cash and cash equivalents of Ps. 306.2 billion;  an increase in Federal Government Bonds of Ps. 6.7 billion;  an increase in assets from derivative financial instruments of Ps. 7.0 billion;  an increase in inventories of Ps. 3.7 billion;  a decrease in liabilities from derivative financial instruments of Ps. 34.6 billion; partially offset by  an increase in short-term debt of Ps. 17.9 billion;  an increase in suppliers of Ps. 11.1 billion;  a decrease in other accounts receivable of Ps. 9.9 billion;  a decrease in accounts receivable of Ps. 8.2 billion; and  an increase in accrued expenses and lease liabilities of Ps. 8.3 billion. Debt Financial Resources As of September 30, 2025, Petróleos Mexicanos, the State-Owned Company, together with its subsidiary entities, carried out financing activities—including short-term bank borrowings—amounting to Ps. 817.3 billion (U.S. $44.5 billion). Total amortizations during the period amounted to Ps. 795.9 billion (U.S. $43.3 billion). As of that date, 92.1% of the total debt was denominated in currencies other than the Mexican peso, primarily in U.S. dollars. For accounting purposes, this debt is translated into Mexican pesos using the closing exchange rate.

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 31 of 128 Financing Activities In line with the Business Plan of Petróleos Mexicanos, State-Owned Productive Enterprise, and its Subsidiary Companies for 2023– 2027, the strategy to converge toward zero net debt continues. Financial Market Operations In the third quarter of 2025, PEMEX carried out following financing operations. Date Instrument Amount (Billion) Due date August 18, 2025 Contract U.S. $11.3 August, 2030 Revolving Credit Facilities PEMEX maintains revolving credit facilities for liquidity management totaling U.S. $5.7 billion and Ps. 20.5 billion. As of September 30, 2025, U.S. $4.2 billion and Ps. 20.5 billion were available. Hedging Strategy Since 2017, PEMEX has implemented an annual hedging strategy to protect its revenues against market volatility. Crude Oil For fiscal year 2025, the oil hedging strategy covers approximately 38% of the company's estimated total exposure. This strategy is based on monthly put-spread purchases, designed to provide protection against price drops of up to U.S. $5 per barrel for the Mexican crude oil mix. The strike price is selected based on a balance between cost and protection, as determined by PEMEX. As a result of crude oil price volatility observed through September 2025, PEMEX obtained a gain of U.S. $157.6 million. Crack Spread Hedding To mitigate the impact of potential declines in gasoline and diesel crack spreads, PEMEX implemented a hedging strategy in 2025 to safeguard its cash flows. As of the end of June, the strategy covered 5.31 million barrels of gasoline and 0.99 million barrels of diesel for the periods from March to August and July to October 2025, respectively. As a result of gasoline crack spread volatility between January and September 2025, the gasoline hedge yielded a net gain of U.S. $4.12 million. Foreign Exchange Hedging To strengthen its financial position, PEMEX executed a bond buyback, which involved unwinding derivative positions associated with foreign exchange hedging instruments, with a notional amount of EUR 500 million. As a result, a net gain of U.S. $53.7 million was recorded as of September 30, 2025.

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 32 of 128 Investment Activities Budgeted Investment[1] For fiscal year 2025, PEMEX has an approved investment budget of Ps. 223.7 billion (U.S. $11.4 billion[2]). As of September 30, 2025, Ps. 182.4billion (U.S. $9.3 billion[3]) had been exercised, representing 81.6% of the approved budget. Business Segment 2025 Budget (Ps. billion) Investment Exercised as of September 30, 2025 (Ps. billion) Exploration and Extraction[4] 180.5 155.9 Industrial Processes 31.5 21.9 Logistics 7.7 2.9 Energy Transformation 2.8 0.6 Corporate 1.2 1.1 Total 223.7 182.4 Budgetary investment has been primarily focused on supporting hydrocarbon extraction and refining activities aimed at producing refined products and gas liquids. In the Exploration and Extraction segment, resources continue to be allocated to accelerate the development and start-up of new fields, which has helped offset the natural decline of mature fields. Additionally, investments are being directed toward the Refinery Rehabilitation Plan, to enhance operational reliability and increase crude oil processing capacity to strengthen the supply of refined products in the domestic market. As of September 30, 2025, capital contributions had been made to subsidiary companies, including Ps. 1.9 billion for the capitalization or the subsidiary in charge of the Olmeca refinery in Dos Bocas, Tabasco, Ps. 1.8 billion to capitalize entities within the fertilizer business line, and Ps. 0.19 billion to Gasolinas Bienestar. Capital Investment (CAPEX) For fiscal year 2025, Pemex has a capital investment (CAPEX) budget of Ps. 133.5 billion (U.S. $6.8 billion8). As of September 30, 2025, Ps. 110.6 billion (U.S. $5.7 billion9) had been exercised, representing 83.0% of total CAPEX. Business Unit 2025 Budget[5] (Ps. billion) CAPEX Exercised as of September 30, 2025 (Ps. billion) Exploration and Extraction 94.2 87.9 Industrial Processes 27.8 18.2 Logistics 7.7 2.9 Energy Transformation 2.8 0.6 Corporate 1.0 1.0 Total 133.5 110.6 Other Relevant Topics PEMEX Strategic Plan 2025–2035[6] The PEMEX Strategic Plan 2025–2035 aims to ensure the company's economic viability in the short, medium, and long term through an integrated approach focused on sustainability, operational efficiency, and alignment with national energy policy. Its central objective is to consolidate PEMEX as a cornerstone of Mexico's energy self-sufficiency and national development.

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 33 of 128 Strategic pillars and key goals 1. Liquid hydrocarbon production  PEMEX will contribute 92–95% of national production (approximately 1.8 million bpd).  Reactivation of mature fields and development of projects such as Zama and Trion.  Estimated reserves: 3,000 MMb of liquids and 13,671 MMcf of gas. 2. Gas production  Increase to 4,713 MMcfd between 2026–2030, with a peak of 5,010 MMcfd in 2028.  Development of projects in Lakach and other conventional and frontier areas with high potential. 3. Refining and petrochemicals  Enhance reliability and performance of the National Refining System, with key projects including capacity increases at Tula, Minatitlán, Madero, and Salina Cruz.  Rehabilitation of ammonia plants and optimization of the ethane–ethylene value chain. 4. Logistics and new businesses  Provision of logistics services to third parties.  Electricity sales to the Federal Electricity Commission (CFE) through four cogeneration plants: Tula, Salina Cruz, Cangrejera, and Nuevo PEMEX.  Development of pipeline infrastructure projects: Interoceanic, Conexión Maya, and Coatzacoalcos II. 5. Energy innovation and sustainable production  Development of renewable and residual energy projects (solar, wind, geothermal).  Natural hydrogen production and lithium extraction.  Production of biojet fuel. 6. Sustainability and social commitment  2030 environmental goals: reduction of greenhouse gases, methane, and sulfur dioxide emissions; soil remediation; and doubling of water reuse.  Strengthening the safety, occupational health, and environmental protection system, with emphasis on risk prevention and the well-being of employees and nearby communities.  Promotion of territorial well-being through health services, educational infrastructure, and support for local governments, aligned with the UN Sustainable Development Goals (SDGs) in PEMEX's areas of operation.  Disclosure of climate-related risks and opportunities in line with international standards. PEMEX capitalization and financing strategy[7] The Comprehensive Capitalization and Financing Strategy aims to ensure that PEMEX has the resources required to operate efficiently, maintain the stability of its supply chain, and reduce its reliance on short-term financing. The support of the Federal Government, through financial mechanisms coordinated by the Ministry of Finance and Public Credit (SHCP) and the Ministry of Energy (SENER), is essential to achieving these objectives. The strategy includes capital injections, debt refinancing, financial discipline, sustainability, and innovative instruments such as financial vehicles to address investment needs and supplier payments. It also prioritizes high-value, low-risk projects, integrating environmental and community criteria. Internally, financial operations and governance are being strengthened through adjustments designed to improve revenues, reduce costs, and ensure responsible resource management, thereby preventing elevated leverage levels in the future.

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 34 of 128 This strategy is structured around five fundamental pillars: 1. Management of financial and commercial debt: Focused on reducing leverage, improving the maturity profile, and optimizing financial costs through innovative instruments such as Pre-Capitalized Notes (P-Caps), long-term refinancing, and the regularization of payables to suppliers. 2. Optimization of financial operations: Implementation of budgetary controls, rigorous project evaluation criteria, risk management strategies, and divestment of non-profitable assets to enhance operational efficiency and cash generation. 3. Investment financing: Prioritization of high-return, low-risk projects, supported by financial vehicles that enable the allocation of up to Ps. 250 billion without exerting pressure on the debt ceiling or compromising fiscal stability. 4. Good governance in financial processes: Strengthening governance through budgetary discipline, internal controls, transparency, and accountability, in alignment with the company's strategic objectives. 5. Sustainable financing framework and ESG criteria: Promotion of projects aligned with environmental, social, and governance (ESG) principles, supporting energy transition and sustainable operations. PEMEX strengthens its capabilities through Mixed Development Assignments PEMEX is promoting Mixed Development Assignments with the objective of complementing its financial, operational, technical, and technological capabilities. In line with the Hydrocarbons Sector Law, the company has selected 11 projects under this model and is evaluating 10 additional opportunities. Among the fields under consideration are Tamaulipas Constituciones, Cuervito, Agua Fría, Tupilco Terciario, and Nobilis-Maximino, among others. Work and Services Contracts Developed and Financed by Third Parties – Ixachi Field PEMEX implemented the Work and Services Contracts Developed and Financed by Third Parties (COSDFT) scheme to incorporate production through private investment while retaining ownership of the assignments and technical responsibility for the projects. On September 29, the first COSDFT contract was signed for the drilling of up to 32 wells in the Ixachi field, as well as for the construction of discharge lines and the expansion of two macro-locations over a three-year period. PEMEX and STPRM Sign Wage Review Agreement PEMEX and the Mexican Petroleum Workers Union (STPRM) concluded the 2025–2027 wage review, agreeing to a 4.5% salary increase and a 2.5% increase in benefits, both effective retroactively as of August 1, 2025. FORWARD-LOOKING STATEMENT AND CAUTIONARY NOTE Variations Cumulative and quarterly variations are calculated comparing the period with the same one of the previous year, unless specified otherwise. Rounding Numbers may not total due to rounding. Financial Information Excluding budgetary and volumetric information, the financial information included in this report and the annexes hereto is based on unaudited consolidated financial statements prepared in accordance with International Financial Reporting Standards as issued

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 35 of 128 by the International Accounting Standards Board ("IFRS"), which PEMEX has adopted effective January 1, 2012. For more information regarding the transition to IFRS, see Note 23 to the consolidated financial statements included in Petróleos Mexicanos' 2012 Form 20-F filed with the Securities and Exchange Commission (SEC) and its Annual Report filed with the Comisión Nacional Bancaria y de Valores (CNBV). EBITDA is a non-IFRS measure. We show a reconciliation of EBITDA to net income in Table 33 of the annexes to this report. Budgetary information is based on standards from Mexican governmental accounting; therefore, it does not include information from the subsidiary companies or affiliates of Petróleos Mexicanos. It is important to mention that our current financing agreements do not include financial covenants or events of default that would be triggered as a result of our having negative equity. Methodology We might change the methodology of the information disclosed to enhance its quality and usefulness, and/or to comply with international standards and best practices. Foreign Exchange Conversions Convenience translations into U.S. dollars of amounts in Mexican pesos have been made at the exchange rate at close for the corresponding period, unless otherwise noted. Due to market volatility, the difference between the average exchange rate, the exchange rate at close and the spot exchange rate, or any other exchange rate used could be material. Such translations should not be construed as a representation that the Mexican peso amounts have been or could be converted into U.S. dollars at the foregoing or any other rate. It is important to note that we maintain our consolidated financial statements and accounting records in pesos. As of September 30, 2025, the exchange rate of Ps. 18.3825 = U.S. $1.00 is used. Fiscal Regime As of January 1, 2015, the fiscal regime applicable to Petróleos Mexicanos is established under the Hydrocarbons Revenue Law.On March 18, 2025, the new secondary regulatory framework was published in the Federal Official Gazette. The Hydrocarbons Revenue Law was amended and several articles were repealed, modifying PEMEX's fiscal regime. The Profit-Sharing Duty, the Hydrocarbon Extraction Duty, and the Hydrocarbon Exploration Duty were repealed and replaced with the "Welfare Oil Duty" (Derecho Petrolero para el Bienestar). This new duty establishes a single rate applicable to the value of hydrocarbons extracted by assignees, thereby simplifying the fiscal framework. It sets a unified rate of 30% on the value of extracted hydrocarbons, without allowing deductions, and a differentiated rate of 11.63% for non-associated gas. In addition, the reform exempts PEMEX from paying Income Tax (ISR) due to its change in legal status to a State-Owned Public Company. The Special Tax on Production and Services (IEPS) applicable to automotive gasoline and diesel is established under the Special Tax on Production and Services Law. PEMEX acts as an intermediary between the Ministry of Finance and Public Credit (SHCP) and the final consumer by collecting the IEPS and subsequently transferring it to the Federal Government. As of January 1, 2018, gasoline and diesel retail prices are determined under market conditions. Production-sharing In accordance with Production-sharing Agreements signed by Petróleos Mexicanos, due to its participation in bidding rounds organized by the National Hydrocarbons Commission (CNH), in addition to the migration of blocks, Petróleos Mexicanos will disclose only its share of production for blocks Ek-Balam, Block 2 Tampico-Misantla (Round 2.1), Block 8 Southeastern Basins (Round 2.1), Santuario, Misión, Block 16 Tampico-Misantla-Veracruz (Round 3.1), Block 17 Tampico-Misantla-Veracruz (Round 3.1), Block 18 Tampico-Misantla-Veracruz (Round 3.1), Block 29 Southeastern Offshore Basins (Round 3.1), Block 32 Southeastern Basins Marino (Round 3.1), Block 33 Southeastern Offshore Basins (Round 3.1) y Block 35 Southeastern Offshore Basins (Round 3.1).

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 36 of 128 Hydrocarbon Reserves In accordance with the Hydrocarbons Sector Law, published in the Official Gazette of the Federation on March 18, 2025, the Ministry of Energy (SENER) will establish and manage the National Hydrocarbons Information Center, comprised by a system to obtain, safeguard, manage, use, analyze, keep updated and publish information and statistics related; which includes estimations, valuation studies and certifications. On August 13, 2015, the CNH published the Guidelines regulating the procedure for quantifying and certifying the Nation's reserves and the report on related contingent resources. As of January 1, 2010, the Securities and Exchange Commission (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. Nevertheless, any description of probable or possible reserves included herein may not meet the recoverability thresholds established by the SEC in its definitions. Investors are urged to consider closely the disclosure in our Form 20-F and our Annual Report to the CNBV and SEC, available at www.pemex.com. 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:  exploration and extraction activities, including drilling;  activities relating to import, export, refining, petrochemicals and transportation of petroleum, natural gas and oil products;  activities relating to the generation of electrical energy;  projected and targeted capital expenditures and other costs, commitments and revenues, and  liquidity and sources of funding, including our ability to continue as a going concern;  strategic alliances with third parties; and  the monetization of specific assets. 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, including on our ability to hire and retain skilled personnel;  limitations on our access to sources of financing on competitive terms;  our ability to find, acquire or have the right to access additional hydrocarbons reserves and to develop the reserves that we obtain successfully;  uncertainties inherent in making estimates of oil and gas reserves, including recently discovered oil and gas reserves;  technical difficulties;  significant developments in the global economy;  significant economic or political developments in Mexico, including developments relating to the implementation of the laws that implement the new legal framework contemplated by the Energy Reform Decree (as described in our most recent Annual Report and Form 20-F);  developments affecting the energy sector; and  changes in our legal regime or regulatory environment, including tax and environmental regulations. 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 our most recent Annual Report filed with the CNBV and available through the Mexican Stock Exchange (http://www.bmv.com.mx/) and our most recent Form 20-F filing filed with the

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 38 of 128 Key Indicators Change Indicator Group 3Q24 3Q25 % Amount Mexican Mix (U.S. $/b) 69.42 62.15 -10.5% (7.26) Gasoline reference price (U.S. $/b) 108.60 90.93 -16.3% (17.67) Diesel reference price (U.S. $/b)) 105.40 91.53 -13.2% (13.87) LPG price by Decree (Ps./kilo) 9.09 10.72 17.9% 1.63 International reference LPG (Ps./kilo) 7.06 8.42 19.3% 1.36 Natural gas (Henry Hub) (U.S. $/MMBtu) 2.06 3.17 53.6% 1.11 Ps. per U.S. $19.6290 18.3825 -6.4% (1.25) Indicator Group 3Q24 3Q25 Net Income (Loss) / Total Sales -0.38 -0.16 Income (loss) before Taxes and Duties / Total Sales -0.39 -0.16 Taxes and Duties / Total Sales -0.01 0.00 Net (Loss) income / Equity 0.08 0.03 Income before taxes and duties / Total Assets -0.08 -0.025 Net income (loss) / Total Assets -0.073 -0.03

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 66 of 128 TIIE reference rates transition Banco de Mexico (the Mexican Central Bank) announced that the 28-day TIIE ceased to be a reference for new contracts as of January 1, 2025. Similarly, the 91-day and 182-day TIIE ceased to be reference rates for new contracts as of January 1, 2024. In response, Petroleos Mexicanos will carry out the actions it deems pertinent and necessary to modify contracts referenced to TIIE rates in in line with the modifications announced by Banco de Mexico. In the event that TIIE ceases to be published, the financial instruments portfolio referenced to these floating rates is composed of debt instruments and DFIs as shown below: Reference Rate \*Notional Amount As of September 30, 2025 (in thousands of each currency) Deuda TIIE 28D MXN 96,752,356 IFD TIIE 28D MXN 31,733,673 \*Note: Notional amounts with maturity after September 30, 2025. PEMEX's portfolio also consists of additional debt instruments and DFIs referenced at fixed rates, which are not listed in the tables above since PEMEX's fixed rate portfolio will not be impacted by this change. (ii)Exchange Rate Risk Most of PEMEX's revenues are denominated in U.S. dollars, a significant amount of which is derived from exports of crude oil and petroleum products, which are priced and payable in U.S. dollars. Additionally, PEMEX's revenues from domestic sales of gasoline and diesel net of IEPS Tax, tax duties, incentives, and other related taxes, as well as domestic sales of natural gas and its byproducts, LPG and petrochemicals, are referenced to international U.S. dollar-denominated prices. PEMEX's expenses related to hydrocarbon duties are calculated based on international U.S. dollar-denominated prices and the cost of hydrocarbon imports that PEMEX acquires for resale in Mexico or use in its facilities are indexed to international U.S. dollar-denominated prices. On the other hand, PEMEX determines the annual amount to be allocated to its capital expenditure and operating expenses as a fixed amount in pesos. As a result of this cash flow structure, the depreciation of the peso against the U.S. dollar increases PEMEX's financial balance. The appreciation of the peso relative to the U.S. dollar has the opposite effect. PEMEX manages this risk without hedging instruments because the impact of exchange rate fluctuations between the U.S. dollar and the peso on PEMEX's revenues is partially offset by its impact on its obligations. PEMEX prioritizes debt issuances denominated in U.S. dollars; nonetheless, this is not always achievable, hence non-U.S. dollar denominated debt issued in international currencies is hedged through DFIs to mitigate their exchange rate exposure, either by swapping it into U.S. dollars or through other derivative structures. The rest of the debt is denominated in pesos or in UDIs, and for the debt denominated in UDIs, it has been converted into pesos through DFIs in order to eliminate the inflationary risk exposure.

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 68 of 128 During the second half of 2023 and the first semester of 2024, PEMEX entered into a crude oil hedge for the fiscal year 2024, pursuant to which PEMEX hedged 168 thousand barrels per day on average, for the period between December 2023 and December 2024, for U.S.$118,540. During the four quarter of 2024 and the first quarter of 2025, PEMEX entered into a crude oil hedge for the fiscal year 2025, pursuant to which PEMEX hedged 455 thousand barrels per day on average for the period between January 2025 and December 2025, for U.S.$195,404. During the third quarter of 2025, none DFIs entered into with the purpose of mitigating hydrocarbon price risk expired. Additionally, PEMEX cash flows are exposed to crack spread movements as these determine the refining margin. During the third quarter of 2025, PEMEX continued to implement its hedging strategy to partially protect its cash flows exposed to diesel crack spread against drops below a level higher than the one established in the Federal Revenue Law for the fiscal year 2025. This is a zero-cost hedging strategy, carried out through swaps which hedged 3,510,000 barrels for the period between July and November 2025. During the third quarter of 2025, five DFIs entered into with this purpose expired. During the first half of 2025, PEMEX implemented a hedging strategy to partially protect its cash flows exposed to gasoline crack spread against drops below a level higher than the one established in the Federal Revenue Law for the fiscal year 2025. This is a zero-cost hedging strategy, carried out through swaps which hedged 1,530,000 barrels for the period between May and August 2025. During the third quarter of 2025, seventeen DFIs entered into with this purpose expired. In addition to supplying natural gas, the company's Industrial Processes segment (formerly Pemex Industrial Transformation) can offer DFIs to its domestic customers in order to provide them with support to mitigate the risk associated with the volatility of natural gas prices. Since 2017, when this service is offered, the company's Industrial Processes segment (formerly Pemex Industrial Transformation) must enter into DFIs with Petróleos Mexicanos under the opposite position to those DFIs offered to its customers in order to mitigate the market risk it would bear under such offered DFIs. Petróleos Mexicanos then transfers the related price risk derived from the DFI position held with the company's Industrial Processes segment (formerly Pemex Industrial Transformation) to financial counterparties by entering into the opposite position DFIs with such parties. As of the third quarter of 2025, there were no DFIs since all the DFIs in its portfolios expired in 2019. In case of entering into new trades, the company's Industrial Processes segment (formerly Pemex Industrial Transformation) DFI portfolios have VaR and CaR limits in order to limit market risk exposure. PMI Trading faces market risk generated by the terms of the purchase and sale of refined products and natural gas liquids, as well as the volatility of oil prices. Accordingly, it frequently enters into DFIs in order to mitigate this risk, thereby reducing the volatility of its financial results. During the third quarter of 2025, PMI Trading closed sixteen DFIs positions listed in CME-Clearport related to commodities, with a profit (loss) of Ps. (179,947) recognized under the concept of (Loss) Return in DFIs. During the third quarter of 2025, PMI Trading had thirty-nine margin calls, which accounted for a positive net flow of Ps. 12,748.

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 69 of 128 In accordance with the risk management regulatory framework that PMI Trading has implemented, VaR and the change in profit and loss by portfolio are calculated daily and compared to the maximum applicable limits in order to implement risk mitigation mechanisms as necessary. Counterparty or Credit Risk When the fair value of a DFI is favorable to PEMEX, PEMEX faces the risk that the counterparty will not be able to meet its obligations. PEMEX monitors its counterparties' creditworthiness and calculates the credit risk exposure for its DFIs. As a risk mitigation strategy, PEMEX only enters into DFIs with major financial institutions with a minimum credit rating of BBB-. These ratings are issued and revised periodically by risk rating agencies. Furthermore, PEMEX seeks to maintain a diversified portfolio of counterparties. In order to estimate PEMEX's credit risk exposure to each financial counterparty, the potential future exposure is calculated by projecting the risk factors used in the valuation of each DFI in order to estimate the MtM value for different periods, taking into account any credit risk mitigation provisions. Moreover, PEMEX has entered into various long-term cross-currency swaps agreements with "recouponing" provisions (pursuant to which when the MtM exceeds the threshold specified in the recouponing clause, the MtM is adjusted to cero and notional amount is also adjusted) , thereby limiting the PEMEX's exposure to its counterparties referenced to a specific threshold amount, as well as the counterparties' exposure to PEMEX During the third quarter of 2025, none of the specified thresholds were reached. According to IFRS 13 "Fair Value Measurement," the fair value or MtM value of DFIs must reflect the creditworthiness of the parties. Consequently, the fair value of a DFI takes into account the risk that either party may default on its obligation. Due to the above, PEMEX applies the credit value adjustment ("CVA") method to calculate the fair value of its DFIs. There were no defaults during the third quarter of 2025. For each DFI, the CVA is calculated by determining the difference between the MtM and the estimated MtM adjusted for credit risk. In determining the credit risk, the CVA method takes into account the current market perception about the credit risk of both counterparties, using the following inputs: a) the MtM projection for each payment date based on forward yield curves; b) the implied default probability obtained from both, PEMEX and the counterparty's credit default swaps, at each payment date; and c) the default recovery rates of each counterparty. Furthermore, by means of its credit guidelines for DFI operations, the company's Industrial Processes segment (formerly Pemex Industrial Transformation) significantly reduces its credit risk exposure related to the DFIs. In order to qualify for these DFIs, customers of the company's Industrial Processes segment (formerly Pemex Industrial Transformation) must be party to a current natural gas supply contract and sign a domestic master derivative agreement. Additionally, according to the credit guidelines, DFIs with these customers must be initially secured by cash deposits, letters of credit or other collateral provisions, as required. The credit guidelines indicate that the company's Industrial Processes segment (formerly Pemex Industrial Transformation) may offer DFIs with an exemption from collateral requirements up to a certain amount, through a credit line approved by the credit committee, based on an internal financial and credit assessment. Moreover, if the credit line is insufficient to cover each client's exposure, the client is obligated to deposit collateral. In accordance with these guidelines, in the event that a client does not meet its payment obligations, DFIs related to this client would be terminated, rights to any available collateral would be exercised and, if the collateral were insufficient to cover the fair value, or in the absence of collateral, natural gas supply would be suspended until the payment is made.

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 71 of 128 As of September 30, 2025, and December 31, 2024, the net fair value of PEMEX's DFIs, including both DFIs that have not reached maturity and those that have reached maturity but have not been settled, recognized in the consolidated statement of financial position, was Ps. (58,130,722) and Ps. (99,768,509), respectively. As of September 30, 2025, and December 31, 2024, PEMEX did not have any DFIs designated as hedges for accounting purposes. All of PEMEX's DFIs are treated, for accounting purposes, as instruments entered into for trading purposes, therefore any change in their fair value, caused by any act or event, impacts directly in the "Derivative financial instruments (cost) income, net" line item in the consolidated statement of comprehensive income. In accordance with established accounting policies, PEMEX has analysed the different contracts (financial and non-financial contracts) that PEMEX has entered into and has determined that according to the terms thereof none of these agreements meet the criteria to be classified as embedded derivatives. Accordingly, as of September 30, 2025, and December 31, 2024, PEMEX did not recognize any embedded derivatives (foreign currency or index) in the financial and non-financial contracts. For the nine-months periods ended September 30, 2025, and 2024, PEMEX recognized a net gain (loss) of Ps. 18,106,809 and Ps. (13,283,553), respectively, in the "Derivative financial instruments (cost) income, net" line item with respect to DFIs treated as instruments entered into for trading purposes.

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 72 of 128 FAIR VALUE OF DFIs The summary of PEMEX's current DFIs along with their fair value is shown in the next tables: TABLE 1 Interest Rate and Currency Derivatives (in thousands of pesos, except as noted, as of September 30, 2025) Underlying Value Fair Value Derivative Type Hedging/ Trading Notional Amount Current Quarter Previous Quarter Current Quarter Previous Quarter Notional amounts by expected maturity year Collateral delivered 2025 2026 2027 2028 2029 Thereafter Interest Rate Swaps Trading 17,440,397 TERM SOFR 3M = 3.9764% TERM SOFR 6M = 3.8459% DAILY COMPOUNDED SOFR = 4.24% TERM SOFR 3M = 4.2923% TERM SOFR 6M = 4.1466% DAILY COMPOUNDED SOFR = 4.54% 240,683 235,826 896,147 0 0 16,544,250 0 0 0 Interest Rate Options Hedging 0 TERM SOFR 1M = 4.1292% TERM SOFR 1M = 4.3223% 0 0 0 0 0 0 0 0 0 Currency Swaps Hedging 120,795,190 MXN = 18.3825 1/EUR = 1.17 1/GBP = 1.3404 JPY = 149.52416 CHF = 0.7979 Exchange rates against US dollar. UDI = 8.55067 Exchange rate against MXN MXN = 18.8928 1/EUR = 1.1725 1/GBP = 1.3758 JPY = 144.1868 CHF = 0.7991 Exchange rates against US dollar. UDI = 8.500847 Exchange rate against MXN 6,499,919 12,289,302 28,011,656 27,416,548 24,689,076 4,749,625 27,048,661 8,879,625 0 Currency Options Hedging 128,916,032 1/EUR = 1.17 1/GBP = 1.3404 JPY = 149.52416 CHF = 0.7979 Exchange rates against US dollar. 1/EUR = 1.1725 1/GBP = 1.3758 JPY = 144.1868 CHF = 0.7991 Exchange rates against US dollar. (3,679,304) (3,437,254) 25,143,216 20,728,218 26,962,532 26,962,532 26,962,532 2,157,003 0 Only cupon swaps Hedging 24,538,340 1/EUR = 1.17 Exchange rate against US dollar. 1/EUR = 1.1725 Exchange rate against US dollar. (23,522) 21,406 0 0 0 24,538,340 0 0 0 Currency Forward Trading 0 MXN = 18.3825 Exchange rate against US dollar. MXN = 18.8928 Exchange rate against US dollar. 0 0 0 0 0 0 0 0 0 Prepaid Swap Trading 58,173,121 MXN = 18.3825 Exchange rate against US dollar. MXN = 18.8928 Exchange rate against US dollar. (63,032,269) (76,771,680) 13,820,586 44,352,535 0 0 0 0 16,943,529

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 73 of 128 TABLE 2 Crude Oil Derivatives (in thousands of pesos, except as noted, as of September 30, 2025) Underlying value (U.S. $ per barrel) (2) Fair Value Derivative Type Hedging/ Trading Volume (in millions of barrels) (1) Current Quarter Previous Quarter Current Quarter Previous Quarter Volume per Year (in millions of barrels) Collateral delivered 2025 2026 2027 2028 2029 Thereafter Crude Oil Options Hedging 34.58 WTI = 69.53 Brent= 67.55 WTI = 65.11 Brent= 67.61 1,904,676 3,615,471 34.58 0 0 0 0 0 0 (1) Net Volume. (2) Representative underlying asset value. Monthly average price per barrel TABLE 3 Crack Spread Derivatives (in thousands of pesos, except as noted, as of September 30, 2025) Underlying value (U.S. $ per barrel) (2) Fair Value Derivative Type Hedging/ Trading Volume (in millions of barrels) (1) Current Quarter Previous Quarter Current Quarter Previous Quarter Volume per Year (in millions of barrels) Collateral delivered 2025 2026 2027 2028 2029 Thereafter Diesel Crack Spread Swaps Hedging 1.71 N.A. N.A. (40,904) 24,630 1.71 0 0 0 0 0 0 Gasoline Crack Spread Swaps Hedging 0 N.A. N.A. 0 46,116 0 0 0 0 0 0 0 (1) Net Volume. (2) Representative underlying asset value. Monthly average price per barrel TABLE 4 Crude and Petroleum Products Financial Derivatives Classified as Cash and Cash Equivalent for Accounting Purposes due to their Liquidity (in thousands of pesos, except as noted, as of September 30, 2025) Underlying value (U.S. $ per barrel) (2) Fair Value Derivative Type Hedging/ Trading Volume (in millions of barrels) (1) Current Quarter Previous Quarter Current Quarter Previous Quarter Volume per Year (in millions of barrels) Collateral delivered (3) 2025 2026 2027 2028 2029 Thereafter Futures Trading (0.2) 90.43 94.97 4,887 (15,477) (0.2) 0 0 0 0 0 0 Exchange Traded Swaps Trading (1.9) 60.18 66.81 19,273 (14,184) (1.9) 0 0 0 0 0 0 (1) Net Volume. (2) Representative underlying asset value per barrel. (3) Exchange traded operations, both futures and swaps have an initial margin of Ps. (133,127) The information in these tables has been calculated using the exchange rates as of September 30, 2025, Ps. 18.3825 = US$1.00 and as of June 30, 2025, Ps. 18.8928 = US$1.00 The information in these tables has been calculated using the exchange rates as of September 30, 2025, Ps. 21.5075 = EUR $1.00 and as of June 30, 2025, Ps. 22.15181 = EUR $1.00

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 82 of 128 liabilities, rights and obligations of the subsidiary entities were assumed by, and transferred at historical cost without gain or loss to Petróleos Mexicanos and it became the successor of the subsidiary entities as a matter of Mexican law. The 2025 Petróleos Mexicanos Law does not affect any payment obligations previously contracted, nor does it alter the guarantees provided by Petróleos Mexicanos or the dissolved entities, whether in Mexico or abroad, where Petróleos Mexicanos is the beneficiary. Prior to their dissolution, the primary purpose of the subsidiary entities, were as follows: • Pemex Exploration and Production: This entity was in charge of the exploration and extraction of crude oil and solid, liquid or gaseous hydrocarbons in Mexico, in the exclusive economic zone of Mexico and abroad, as well as drilling services and repair and services of wells; • Pemex Industrial Transformation: This entity performed activities related to refining, transformation, processing, importing, exporting, trading and the sale of hydrocarbons, petroleum products, natural gas and petrochemicals, as well as commercialized, distributed and traded methane, ethane and propylene, directly or through others; and • Pemex Logistics: This entity provided transportation, storage and related services for crude oil, petroleum products and petrochemicals to PEMEX (as defined below) and other companies, through pipelines and maritime and terrestrial means, and provided guard and management services. Prior to the dissolution, the principal distinction between the subsidiary entities and the Subsidiary Companies (as defined below) was that the subsidiary entities were productive state-owned entities, whereas the Subsidiary Companies are affiliate companies that were formed in accordance with the applicable laws of each of the respective jurisdictions in which they were incorporated. On May 22, 2025, the Board of Directors of Petróleos Mexicanos approved the Estatuto Orgánico de Petróleos Mexicanos (Organic Statute of Petróleos Mexicanos or the "New Organic Statute"). The New Organic Statute was published in the Official Gazette of the Federation on May 30, 2025, and became effective on June 1, 2025. On September 12, 2025, an amendment to the Organic Statute, previously approved by the Board of Directors of Petróleos Mexicanos, was published in the Federal Official Gazette. The New Organic Statute establishes the new structure and organization of PEMEX. Changes derived from this new structure and how PEMEX's primary business are now conducted are disclosed in Note 6. The "Subsidiary Companies" are defined as those companies which are controlled, directly or indirectly, by Petróleos Mexicanos. "Associates," as used herein, means those companies in which Petróleos Mexicanos has significant influence but not control or joint control over its financial and operating policies. Petróleos Mexicanos, State-Owned Public Company and the Subsidiary Companies are referred to collectively herein as "PEMEX". PEMEX's address and its principal place of business is: Av. Marina Nacional No. 329, Col. Verónica Anzures, Alcaldía Miguel Hidalgo, 11300, Ciudad de México, México. NOTE 2. AUTHORIZATION AND BASIS OF PREPARATION Authorization On October 27, 2025, these condensed consolidated interim financial statements and the notes hereto were authorized for issuance by the following officers: Mr. Víctor Rodríguez Padilla, Chief Executive Officer, Mr. Juan Carlos Carpio Fragoso, Chief Financial Officer, Mr. Óscar René Orozco Piliado, Deputy Director of Accounting and Tax and Mr. Ernesto Balcázar Hernández, Associate Managing Director of Accounting.

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 83 of 128 Basis of preparation A. Statement of compliance PEMEX prepared its condensed consolidated interim financial statements as of September 30, 2025 and December 31, 2024, and for the three- and nine-month periods ended September 30, 2025 and 2024, in accordance with IAS 34, "Interim Financial Reporting" ("IAS 34") of the IFRS Accounting Standards ("IFRS"), as issued by the International Accounting Standards Board. These condensed consolidated interim financial statements do not include all the information and disclosures required for full annual consolidated financial statements and should be read in conjunction with PEMEX's audited consolidated financial statements as of and for the year ended December 31, 2024. PEMEX estimates that there is no significant impact on its condensed consolidated interim financial statements due to the seasonality of operations. These condensed consolidated interim financial statements follow the same accounting policies and methods of computation as PEMEX's audited consolidated financial statements as of and for the year ended December 31, 2024. B. Basis of accounting These condensed consolidated interim financial statements have been prepared using the historical cost basis method, except for the following items, which have been measured using an alternative basis. ITEM BASIS OF MEASUREMENT Derivative Financial Instruments ("DFIs") Fair Value Employee Benefits Fair Value of plan assets less present value of the obligation (defined benefit plan) C. Going concern The condensed consolidated interim financial statements have been prepared on a going concern basis, which assumes that PEMEX will be able to continue its operations and can meet its payment obligations for a reasonable period (See Note 17-F). D. Functional and reporting currency These condensed consolidated interim financial statements are presented in Mexican pesos, which is both PEMEX's functional currency and reporting currency, due to the following: i. The economic environment in which PEMEX operates is Mexico, where the legal currency is the Mexican peso; ii. The budget through which Petróleos Mexicanos operates as an entity of the Mexican Government, including the ceiling for personnel services, is elaborated, approved and exercised in Mexican pesos; iii. Employee benefits provision was 34% and 29% of PEMEX's total liabilities as of September 30, 2025 and December 31, 2024, respectively. This provision is computed, denominated and payable in Mexican pesos; and iv. Cash flows for payment of general expenses, taxes and duties are realized in Mexican pesos.

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 84 of 128 Although the sales prices of certain products are based on international U.S. dollar-indices, final domestic selling prices are governed by the economic and financial policies established by the Mexican Government. Accordingly, cash flows from domestic sales are generated and received in Mexican pesos. With regards to PEMEX's foreign currency (export sales, borrowings, etc.), Mexico's monetary policy regulator, the Banco de México ("Mexican Central Bank"), requires that Mexican Government entities other than financial entities sell their foreign currency to the Mexican Central Bank in accordance with its terms, receiving Mexican pesos in exchange, which is the currency of legal tender in Mexico. Terms definition References in these condensed consolidated interim financial statements and the related notes to "pesos" or "Ps." refers to Mexican pesos, "U.S. dollars" or "U.S.$" refers to dollars of the United States of America, "yen" or "¥" refers to Japanese yen, "euro" or "€" refers to the legal currency of the European Economic and Monetary Union, "pounds sterling" or "£" refers to the legal currency of the United Kingdom and "Swiss francs" or "CHF" refers to the legal currency of the Swiss Confederation. Figures in all currencies are presented in thousands of the relevant currency unit, except exchange rates and product and share prices. E. Use of judgments and estimates The preparation of the condensed consolidated interim financial statements in accordance with IFRS requires the use of estimates and assumptions made by PEMEX's management that affect the recorded amounts of assets and liabilities and the disclosures of contingent assets and liabilities as of the date of these condensed consolidated interim financial statements, as well as the recorded amounts of income, costs and expenses during the period. Actual results may differ from these estimates. Significant estimates and underlying assumptions are reviewed, and the effects of such revisions are recognized in the periods in which any estimates are revised and in any future periods affected by such revision. The significant judgements made by management in applying PEMEX's accounting policies and the key sources of estimation uncertainty were the same as those described in PEMEX's audited consolidated financial statements as of and for the year ended December 31, 2024. i.Measurement of fair values Some of PEMEX's accounting policies and disclosures require the measurement of the fair values of financial assets and liabilities, as well as non-financial assets and liabilities. PEMEX has an established control framework with respect to the measurement of fair values. This includes a valuation team that has overall responsibility for overseeing all significant fair value measurements, including Level 3 fair values. The valuation team regularly reviews significant unobservable inputs and valuation adjustments. If third party information, such as broker quotes or pricing services, is used to measure fair values, then the valuation team assesses the evidence obtained from the third parties to support the conclusion that these valuations meet the requirements of IFRS, including the level in the fair value hierarchy in which the valuations should be classified. When measuring the fair value of an asset or a liability, PEMEX uses market observable data as far as possible. Fair values are categorized into different levels in a fair value hierarchy based on the inputs used in the valuation techniques as follows: • Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities. • Level 2: inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly (i.e., as prices) or indirectly (i.e., derived from prices).

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 85 of 128 • Level 3: inputs for the asset or liability that are not based on observable market data (unobservable inputs). If the inputs used to measure the fair value of an asset or a liability might be categorized in different levels of the fair value hierarchy, then the fair value measurement is categorized in its entirety in the same level of the fair value hierarchy as the lowest level input that is significant to the entire measurement. PEMEX recognizes transfers between levels of the fair value hierarchy at the end of the reporting period during which the change has occurred. NOTE 3. MATERIAL ACCOUNTING POLICIES The accounting policies applied in the preparation of these condensed consolidated interim financial statements are consistent with those applied in the preparation of PEMEX's annual consolidated financial statements as of and for the year ended December 31, 2024, except for the adoption of new standards effective as of January 1, 2025. However, these new standards have not had a material effect on the condensed consolidated interim financial statements of PEMEX. NOTE 4. NEW ACCOUNTING STANDARDS AND RECENTLY ISSUED ACCOUNTING STANDARDS New Accounting Standards A number of new standards are effective for annual periods beginning after January 1, 2025 and earlier application is permitted; however, PEMEX has not early adopted the new or amended standards in preparing these condensed consolidated interim financial statements. The following amended standards and interpretations are not expected to have a significant impact on PEMEX's condensed consolidated interim financial statements: Recently Issued Accounting Standards i. Applicable as of January 1, 2025 • Lack of Exchangeability (Amendments to IAS 21) • Classification and Measurement of Financial Instruments (Amendments to IFRS 9 and IFRS 7) • Subsidiaries without Public Accountability Disclosures (IFRS 19) ii. Applicable as of January 1, 2027 • Presentation and Disclosure in Financial Statements (IFRS 18). PEMEX is in the process of assessing the impact of IFRS 18 to meet the new presentation and disclosure requirements.

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 86 of 128 NOTE 5. SUBSIDIARY COMPANIES As of September 30, 2025 and December 31, 2024, the consolidated Subsidiary Companies are as follows: • P.M.I. Trading, DAC. ("PMI Trading") (i)(iii)(vii) • P.M.I. Holdings Petróleos España, S.L.U. ("HPE") (i)(iii)(v) • P.M.I. Services North America, Inc. ("PMI SUS") (i)(iii)(vi) • P.M.I. Norteamérica, S.A. de C.V. ("PMI NASA") (i)(iii)(iv) • P.M.I. Comercio Internacional, S.A. de C.V. ("PMI CIM") (i)(ii)(iv) • PMI Campos Maduros SANMA, S. de R.L. de C.V. ("SANMA") (iii)(iv)(xiii) • Pro-Agroindustria, S.A. de C.V. ("AGRO") (iii)(iv) • PTI Infraestructura de Desarrollo, S.A. de C.V. ("PTI ID") (iii)(iv) • P.M.I. Servicios Portuarios Transoceánico, S.A. de C.V. ("PMI SP") (iii)(iv) • Pemex Procurement International, Inc. ("PPI") (iii)(vi) • Pemex Finance Limited ("FIN") (iii)(ix)(xii) • Mex Gas Internacional, S.L. ("MGAS") (iii)(iv) • Pemex Desarrollo e Inversión de Proyectos, S.A. de C.V. ("PDII") (iii)(iv) • IKAL Insurance Company, AG. ("IKAL") (iii)(viii)(xiv) • PPQ Cadena Productiva, S.L.U. ("PPQCP") (iii)(v)(xi) • I.I.I. Servicios, S.A. de C.V. ("III Servicios") (iii)(iv) • PMI Ducto de Juárez, S. de R.L. de C.V. ("PMI DJ") (i)(iii)(iv) • PMX Fertilizantes Holding, S.A. de C.V. ("PMX FH") (iii)(iv) • PMX Fertilizantes Pacífico, S.A. de C.V. ("PMX FP") (iii)(iv) • Grupo Fertinal, S.A. de C.V. ("GP FER") (iii)(iv) • Compañía Mexicana de Exploraciones, S.A. de C.V. ("COMESA") (ii)(iv)(xi) • P.M.I. Trading México, S.A. de C.V. ("TRDMX") (i)(iii)(iv) • Holdings Holanda Services, B.V. ("HHS") (iii)(x) • Deer Park Refining Limited Partnership ("Deer Park" or "DPRLP") (i)(iii)(vi) • Gasolinas Bienestar, S.A. de C.V. ("GASOB") (iii)(iv) (i) Member Company of the "PMI Subsidiaries". (ii) Non-controlling interest company (98.33% in PMI CIM and 60.00% in COMESA). (iii) Petróleos Mexicanos owns 100.00% of the interests in this Subsidiary Company. (iv) Operates in Mexico. (v) Operates in Spain. (vi) Operates in the United States of America. (vii) Operates in Ireland. (viii) Operates in Switzerland. (ix) Operates in the Cayman Islands. (x) Operates in the Netherlands. (xi) This company is in process of liquidation. (xii) This company was liquidated in September 2024. (xiii) This company was liquidated in December 2024. (xiv) Formerly KOT Insurance Company, AG.(KOT), until August 31, 2025.

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 87 of 128 NOTE 6. SEGMENT FINANCIAL INFORMATION PEMEX's primary business is the exploration and production of crude oil and natural gas, as well as the production, processing, marketing and distribution of petroleum and petrochemical products. As of September 30, 2024 and December 31, 2024 and PEMEX's operations were conducted through seven business segments: • Exploration and Production; • Industrial Transformation; • Logistics; • Deer Park; • the Trading Companies; • Corporate; and • Other Operating Subsidiary Companies. Following the dissolution of the subsidiary entities on March 19, 2025 and pursuant the New Organic Statute, as of June 1, 2025, PEMEX's operations are now conducted through six segments: • Exploration and Extraction; • Industrial Processes; • Energy Transformation; • Deer Park; • the Trading Companies; and • Other Operating Subsidiary Companies. The primary sources of revenue for PEMEX's business segments are as described below: • The Exploration and Extraction segment (formerly Exploration and Production) earns revenues from domestic sales of crude oil and natural gas, and from exporting crude oil through certain of the Trading Companies. Crude oil export sales are made through the agent subsidiary company PMI CIM, to 12 major customers in various foreign markets. Approximately half of PEMEX's crude oil is transferred to the Industrial Processes segment. Additionally, it receives income from drilling services, and servicing and repairing wells. • The Industrial Processes segment (formerly Industrial Transformation) earns revenues from sales of refined petroleum products and derivatives, mainly to third parties within the domestic market. This segment also sells a significant portion of the fuel oil it produces to the Comisión Federal de Electricidad (Federal Eletricity Commission, or "CFE") and a significant portion of jet fuel produced to the Aeropuertos y Servicios Auxiliares (Airports and Auxiliary Services Agency or "ASA"). The refining segment's most important products are different types of gasoline and diesel. • The Energy Transformation segment (previously included in the Industrial Transformation segment) earns revenues from domestic sources generated by sales of natural gas, liquefied petroleum gas, naphtha, butane and ethane and certain other petrochemicals such as methane derivatives, ethane derivatives, aromatics, ammonia, fertilizers and its derivatives. • The Deer Park segment includes DPRLP's operations, generates revenues from sales of distillates and gasoline in the U.S. market.

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 88 of 128 • The Trading Companies segment, which consists of PMI CIM, PMI NASA, PMI Trading, MGAS and GASOB (the "Trading Companies"), earns revenues from trading crude oil, natural gas and petroleum and petrochemical products in international markets. • The segment related to the Other Operating Subsidiary Companies provides transportation and storage of crude oil, petroleum products and petrochemicals, administrative, financing, consulting and logistical services, as well as economic, tax and legal advice and re-insurance services to PEMEX's subsidiary entities and companies with industrial activities. As of March 19, 2025 this segment includes the Logistics and Corporate activities, previously reported as separate segments. • The Logistics segment (until March 18, 2025) earned income from transportation and storage of crude oil, petroleum products and petrochemicals, as well as related services, which it provides by employing pipelines and offshore and onshore resources, and from providing services related to the maintenance, handling, guarding and management of these products. As of March 19, 2025, this activity is included in the Other Operating Subsidiary Companies segment. • The Corporate segment (until March 18, 2025) provided administrative, financing and consulting services to PEMEX's subsidiary entities and companies. As of March 19, 2025, this activity is included in the Other Operating Subsidiary Companies segment. The following tables present the condensed financial information of these segments, after elimination of unrealized intersegment gain (loss), and include only select line items. The columns before intersegment eliminations include unconsolidated figures. As a result, the line items presented below may not total. These reporting segments are those which PEMEX's management evaluates in its analysis and on which it bases its decision-making. These reporting segments are presented in PEMEX's reporting currency.

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 89 of 128 For the three- and nine -month periods ended September 30, 2024, PEMEX presents the operating segments as they existed prior to the enactment of the 2025 Petróleos Mexicanos Law and the New Organic Statute, this information is not comparable to the 2025 amounts due to the unavailability to obtain these figures. For the three- and nine -month periods ended September 30, 2025, PEMEX presents the operating segments in accordance with PEMEX's new organizational structure under the New Organic Statute (see Note 1). As of/for the nine-month period ended September 30, 2025 Exploration and Extraction Industrial Processes Energy Transformation DPRL Trading Companies Other Operating Subsidiary Companies Intersegment eliminations Total Sales: Trade Ps. 176,773,987 388,670,903 56,869,096 129,286,909 393,279,933 19,352,708 — Ps. 1,164,233,536 Intersegment 111,460,130 225,810,588 10,989,241 14,418,427 321,869,443 77,223,973 (761,771,802) — Services income 447 87,157 — — 1,153,728 616,199 — 1,857,531 (Impairment) reversal of impairment of wells, pipelines, properties, plant and equipment, net (32,390,160) 2,797,840 (876,754) — — (22,143,105) — (52,612,179) Cost of sales 285,215,498 382,311,792 65,702,271 138,973,636 699,816,860 92,717,083 (747,764,751) 916,972,389 Transfer of good and services (122,255,887) 119,175,607 26,791,883 — — (17,779,173) (5,932,430) — Gross income (loss) 92,884,793 115,879,089 (25,512,571) 4,731,700 16,486,244 111,865 (8,074,621) 196,506,499 Distribution, transportation and sale expenses 153,016 4,078,291 8,527,641 — 7,936,717 292,737 (2,646,868) 18,341,534 Administrative expenses 30,347,273 28,988,604 9,079,880 1,480,334 2,604,782 88,817,537 (9,503,671) 151,814,739 Transfer of services 38,889,390 12,229,977 1,540,308 — — (56,719,863) 4,060,188 — Other revenue 15,051,184 1,302,745 1,249,475 (155,288) 762,035 4,508,439 — 22,718,590 Other expenses 7,988,784 1,961,738 (714,625) 8,033 8,590 216,804 (3,905) 9,465,419 Operating income 30,557,514 69,923,224 (42,696,300) 3,088,045 6,698,190 (27,986,911) 19,635 39,603,397 Financing income 25,529,785 295,895 — 659,235 1,003,709 139,212,304 (156,546,115) 10,154,813 Financing (cost) 111,580,914 24,030,311 — 101,842 4,833,592 130,551,785 (156,526,481) 114,571,963 Derivative financial instruments income (cost) , net 9,642,392 110,131 — — (455,046) 8,809,332 — 18,106,809 Foreign exchange income (loss), net 198,944,489 21,379,625 (197,994) — (417,009) (66,697,867) — 153,011,244 Profit (loss) sharing in associates 437,551 932,072 (932,072) — 11,166,542 23,615,074 (34,447,650) 771,517 Welfare oil duty 150,554,257 — — — — — — 150,554,257 Total taxes and other — — — 34,368 1,067,819 474,379 — 1,576,566 Net (loss) income Ps. 2,976,560 68,610,636 (43,826,366) 3,611,070 12,094,975 (54,074,232) (34,447,649) Ps. (45,055,006) Total current assets 277,064,885 307,695,355 27,337,681 34,275,277 248,273,011 7,844,809,987 (7,993,751,678) 745,704,518 Total non-current assets 886,674,125 219,906,486 6,586,042 31,478,307 132,713,198 194,850,493 180,489,499 1,652,698,150 Total current liabilities 989,501,905 311,200,480 100,674,589 8,975,826 221,701,317 7,570,975,840 (7,993,499,188) 1,209,530,769 Total long-term liabilities 1,694,612,841 611,646,322 47,252,997 1,982,675 1,521,565 1,879,805,544 (1,152,152,383) 3,084,669,561 Total equity (deficit) (1,520,375,736) (395,244,961) (114,003,863) 54,795,083 157,763,327 (1,411,120,904) 1,332,389,392 (1,895,797,662) Depreciation and amortization of wells, pipelines, properties, plant and equipment 96,895,405 4,742,392 486,321 2,229,636 207,539 8,006,679 — 112,567,972 Depreciation of rights of use 216,820 761,624 1,985,413 489,782 659,425 464,632 — 4,577,696 Net periodic cost of employee benefits 31,842,612 36,144,669 8,313,699 — (3,309) 35,935,233 — 112,232,904 Interest income (1) 116,288 278,103 — 242,894 580,185 6,786,037 — 8,003,507 Interest cost (2) (3,277,826) 2,721,508 — 101,842 3,462,662 102,187,952 — 105,196,138 (1)Included in financing income. (2)Included in financing cost.

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 90 of 128 For the three-month period ended September 30, 2025 Exploration and Extraction Industrial Processes Energy Transformation DPRLP Trading Companies Other Operating Subsidiary Companies Intersegment eliminations Total Sales: Trade Ps. 50,764,777 131,941,896 13,854,576 42,513,611 133,352,818 5,683,612 — Ps. 378,111,290 Intersegment 2,155,214 76,351,692 (1,827,952) 4,261,180 97,587,849 13,188,821 (191,716,804) — Services income (7,898) 35,348 (3,716) — 395,886 349,632 — 769,252 (Impairment) reversal of impairment of wells, pipelines, properties, plant and equipment, net 5,603,176 11,748,726 (7,627,292) — — (22,143,105) — (12,418,495) Cost of sales 114,826,386 92,449,357 12,832,852 44,401,372 229,123,135 25,485,977 (189,975,992) 329,143,087 Transfer of good and services (31,844,171) 36,371,489 9,820,942 — — (8,980,313) (5,367,947) — Gross income (loss) (24,466,946) 91,256,816 (18,258,178) 2,373,419 2,213,418 (19,426,704) 3,627,135 37,318,960 Distribution, transportation and sale expenses 55,296 (1,809,105) 1,456,867 — 7,904,249 (24,127) (508,992) 7,074,188 Administrative expenses 8,555,989 7,469,215 4,732,490 497,742 816,205 25,524,850 (243,703) 47,352,788 Transfer of services (7,250,136) 1,207,326 302,848 — — 1,281,227 4,458,735 — Other revenue 4,135,640 208,463 273,327 25,020 254,583 1,386,372 — 6,283,405 Other expenses (542,519) 3,175,815 (516,296) 8,033 2,713 18,613 (86,476) 2,059,883 Operating (loss) income (21,149,936) 81,422,028 (23,960,760) 1,892,664 (6,255,166) (44,840,895) 7,571 (12,884,494) Financing income 6,087,046 102,078 (17,727) 232,574 308,236 29,702,218 (33,347,197) 3,067,228 Financing (cost) 28,452,285 2,548,993 (1,576,414) 30,206 1,336,726 37,251,014 (33,339,627) 34,703,183 Derivative financial instruments (cost) income, net (38,104,209) (14,065) — — (128,991) 35,421,669 — (2,825,596) Foreign exchange income (loss), net 56,534,947 8,374,581 (981,256) — (193,474) (30,350,620) — 33,384,178 Profit (loss) sharing in associates 330,555 932,072 (932,072) — 1,794,533 (28,812,590) 27,092,917 405,415 Welfare oil duty 47,486,279 — — — — — — 47,486,279 Total taxes and other — — — 23,191 (2,877) 179,385 — 199,699 Net (loss) income Ps. (72,240,161) 88,267,701 (24,315,401) 2,071,841 (5,808,711) (76,310,617) 27,092,918 Ps. (61,242,430) Depreciation and amortization of wells, pipelines, properties, plant and equipment 33,270,898 1,459,904 175,255 701,949 68,009 3,494,005 — 39,170,020 Depreciation of rights of use 69,644 (601,249) 1,509,167 156,667 218,185 157,693 — 1,510,107 Net periodic cost of employee benefits 10,762,184 12,347,869 2,638,808 — (2,188) 12,207,111 — 37,953,784 Interest income (1) 49,415 81,544 — 100,656 179,086 2,184,217 — 2,594,918 Interest cost (2) (860,703) 801,864 — 30,206 908,201 31,331,258 — 32,210,826 (1)Included in financing income. (2)Included in financing cost.

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 91 of 128 For the nine month period ended September 30, 2024 Exploration and Production Industrial Transformation Logistics DPRLP Trading Companies Corporate Other Operating Subsidiary Companies Intersegment eliminations Total Sales: Trade Ps. 247,919,624 482,381,043 — 123,770,887 368,971,198 — 16,530,921 — Ps. 1,239,573,673 Intersegment 403,171,242 270,362,746 69,489,540 13,612,860 387,016,950 14,579,558 38,663,451 (1,196,896,347) — Services income 20,086 218,618 296,360 348 1,414,191 584 24,584 — 1,974,771 (Impairment) reversal of impairment of wells, pipelines, properties, plant and equipment, net 15,447,401 (67,871,770) 582,924 — — — — — (51,841,445) Cost of sales 375,889,863 856,919,283 54,822,944 136,331,201 747,680,464 863,996 45,883,723 (1,186,195,738) 1,032,195,736 Gross income (loss) 290,668,490 (171,828,646) 15,545,880 1,052,894 9,721,875 13,716,146 9,335,233 (10,700,609) 157,511,263 Distribution, transportation and sale expenses 501,931 10,651,527 1,374,721 — 91,281 118,728 32,009 (1,507,786) 11,262,411 Administrative expenses 19,643,247 38,005,833 8,436,483 1,355,041 2,518,863 61,934,091 5,359,429 (9,235,740) 128,017,247 Other revenue 4,480,559 4,139,087 526,696 (173,695) 751,330 903,347 1,285,918 — 11,913,242 Other expenses 3,316,677 880,982 103,770 41 46,460 73,354 115,568 54,408 4,591,260 Operating income 271,687,194 (217,227,901) 6,157,602 (475,883) 7,816,601 (47,506,680) 5,114,145 (11,491) 25,553,587 Financing income 57,185,776 780,671 14,992,318 896,940 943,281 163,754,808 1,615,573 (227,899,376) 12,269,991 Financing cost 135,386,982 27,127,433 264,251 193,978 5,546,933 170,824,916 2,279,626 (227,910,868) 113,713,251 Derivative financial instruments (Cost) income, net (9,379,711) 239,681 — 95,455 (241,846) (3,997,112) — — (13,283,533) Foreign exchange (loss) income, net (55,653,581) (238,351,425) (463,944) — (483,957) 42,206,754 (3,660,049) — (256,406,202) Profit (loss) sharing in associates (10,983) (1,282,079) 968 — (47,807) (415,556,484) (634,876) 417,953,100 421,839 Total duties, taxes and other 79,062,082 — 4,438,500 81,431 2,661,553 (1,969,233) 670,856 — 84,945,189 Net (loss) income Ps. 49,379,631 (482,968,486) 15,984,193 241,103 (222,214) (429,954,397) (515,689) 417,953,101 Ps. (430,102,758) Depreciation and amortization of wells, pipelines, properties, plant and equipment 92,924,986 7,537,623 4,689,577 1,870,533 204,574 427,909 1,765,195 — 109,420,397 Depreciation of rights of use 242,968 2,372,894 272,436 476,839 541,933 451,895 151,361 — 4,510,326 Net periodic cost of employee benefits 29,300,521 41,900,776 6,931,799 — 2,887 26,036,992 47,173 — 104,220,148 Interest income (1) 135,581 434,202 17,827 234,578 365,766 7,070,805 1,261,248 — 9,520,007 Interest cost (2) (3,214,151) 2,411,338 264,193 193,978 4,191,533 100,872,900 1,600,620 — 106,320,411 (1)Included in financing income. (2)Included in financing cost.

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 92 of 128 For the three-month period ended September 30, 2024 Exploration and Production Industrial Transformation Logistics DPRLP Trading Companies Corporate Other Operating Subsidiary Companies Intersegment eliminations Total Sales: Trade Ps. 80,278,436 161,060,502 — 48,039,379 131,522,956 — 4,608,092 — Ps. 425,509,365 Intersegment 143,637,481 94,400,399 22,435,555 3,024,980 135,467,793 (6,101,146) 14,404,257 (407,269,319) — Services income 6,888 41,949 48,725 159 504,387 145 10,381 — 612,634 (Impairment) reversal of impairment of wells, pipelines, properties, plant and equipment, net (3,567,530) (31,479,678) 754,754 — — — — — (34,292,454) Cost of sales 120,233,424 293,114,118 16,209,890 51,386,441 265,862,892 313,815 15,815,009 (416,491,176) 346,444,413 Gross income (loss) 100,121,851 (69,090,946) 7,029,144 (321,923) 1,632,244 (6,414,816) 3,207,721 9,221,857 45,385,132 Distribution, transportation and sale expenses 170,930 450,549 1,218,340 — 20,994 28,082 (702) 1,641,598 3,529,791 Administrative expenses (250,615) 10,867,203 808,094 561,818 831,429 21,230,095 2,041,997 7,450,770 43,540,791 Other revenue 1,043,584 964,661 97,738 (181,587) 484,018 748,521 175,190 — 3,332,125 Other expenses 1,089,478 (125,220) 3,119 2 30,019 7 1,198 140,109 1,138,712 Operating income (loss) 100,155,642 (79,318,817) 5,097,329 (1,065,330) 1,233,820 (26,924,479) 1,340,418 (10,620) 507,963 Financing income 20,110,041 239,042 4,982,629 352,404 348,326 49,348,539 602,698 (73,908,139) 2,075,540 Financing cost 42,437,595 9,586,436 76,177 99,917 1,971,128 61,497,005 863,271 (73,918,760) 42,612,769 Derivative financial instruments income (cost), net 1,359,497 82,940 — 3,273 402,766 651,308 — — 2,499,784 Foreign exchange (loss) income, net (35,021,117) (113,874,412) (268,680) — (25,555) 21,203,103 (2,124,399) — (130,111,060) Profit (loss) sharing in associates (117,478) (800,626) (37) — (2,059,213) (154,725,343) (3,083,360) 160,942,680 156,623 Total duties, taxes and other 1,361,451 — 1,720,307 33,412 1,132,915 (10,608,564) 331,961 — (6,028,518) Net (loss) income Ps. 42,687,539 (203,258,309) 8,014,757 (842,982) (3,203,899) (161,335,313) (4,459,875) 160,942,681 Ps. (161,455,401) Depreciation and amortization of wells, pipelines, properties, plant and equipment 29,911,969 2,154,679 1,491,906 783,917 68,339 143,772 607,186 — 35,161,768 Depreciation of rights of use 82,547 806,041 87,710 198,393 192,390 150,631 76,938 — 1,594,650 Net periodic cost of employee benefits 9,887,798 14,150,669 2,399,715 — 1,312 8,769,135 15,859 — 35,224,488 Interest income (1) 33,895 89,088 8,141 66,244 133,038 2,524,382 477,211 — 3,331,999 Interest cost (2) (304,596) 865,506 76,141 99,917 1,414,106 35,873,244 530,255 — 38,554,573 (1)Included in financing income. (2)Included in financing cost. As of December 31, 2024 Exploration and Production Industrial Transformation Logistics DPRLP Trading Companies Corporate Other Operating Subsidiary Companies Intersegment eliminations Total Total current assets Ps. 1,122,872,816 225,147,273 294,804,303 32,870,141 287,375,832 2,040,342,693 111,987,963 (3,675,846,301) Ps. 439,554,720 Total non-current assets 938,768,113 590,508,074 127,928,147 34,744,185 130,862,284 (171,049,739) 567,969,098 (450,532,299) 1,769,197,863 Total current liabilities 696,209,532 1,728,102,735 86,307,404 7,891,750 255,198,459 2,051,344,378 58,229,460 (3,675,760,337) 1,207,523,381 Total long-term liabilities 1,934,280,036 575,378,552 71,857,552 1,950,666 1,814,052 1,801,449,926 56,777,221 (1,458,503,067) 2,985,004,938 Total equity (deficit) (568,848,639) (1,487,825,940) 264,567,494 57,771,910 161,225,605 (1,983,501,350) 564,950,380 1,007,884,804 (1,983,775,736)

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 93 of 128 NOTE 7. REVENUE For the three- and nine -month periods ended September 30, 2025, revenue disaggregation is presented in accordance with the operating segments presentation in accordance with PEMEX's new organizational structure under the New Organic Statute (see Note 6): A. Revenue disaggregation For the nine-month period ended September 30, Exploration and Extraction Industrial Processes Energy Transformation DPRLP Trading Companies Other Operating Subsidiary Companies Total Geographical market 2025 United States Ps. 95,137,891 — — 129,286,909 96,189,858 2,082,041 Ps. 322,696,699 Other 29,172,888 — — — 13,168,440 187,311 42,528,639 Europe 52,375,641 — — — 11,598,128 — 63,973,769 Local 88,014 388,758,060 56,869,096 — 273,477,235 17,699,555 736,891,960 Total Ps. 176,774,434 388,758,060 56,869,096 129,286,909 394,433,661 19,968,907 Ps. 1,166,091,067 Major products and services 2025 Crude oil Ps. 176,686,419 — — — 10,423,831 — Ps. 187,110,250 Gas 87,568 — 52,024,020 4,153,830 24,157,469 — 80,422,887 Refined petroleum products — 388,670,903 4,845,076 30,719,519 357,921,926 — 782,157,424 Other — — — 94,413,560 776,707 19,352,708 114,542,975 Services 447 87,157 — — 1,153,728 616,199 1,857,531 Total Ps. 176,774,434 388,758,060 56,869,096 129,286,909 394,433,661 19,968,907 Ps. 1,166,091,067 Timing of revenue recognition 2025 Products transferred at a point in time Ps. 176,773,987 388,670,903 4,845,076 129,286,909 393,279,933 19,352,708 1,112,209,516 Products and services transferred over the time 447 87,157 52,024,020 — 1,153,728 616,199 53,881,551 Total Ps. 176,774,434 388,758,060 56,869,096 129,286,909 394,433,661 19,968,907 1,166,091,067

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 94 of 128 For the three-month period ended September 30, Exploration and Extraction Industrial Processes Energy Transformation DPRLP Trading Companies Other Segments supporting operations Total Geographical market 2025 United States Ps. 26,880,872 — — 42,513,611 36,924,083 999,997 Ps. 107,318,563 Other 9,232,235 — — — 3,408,823 66,749 12,707,807 Europe 14,630,231 — — — (655,759) — 13,974,472 Local 13,541 131,977,244 13,850,860 — 94,071,557 4,966,498 244,879,700 Total Ps. 50,756,879 131,977,244 13,850,860 42,513,611 133,748,704 6,033,244 Ps. 378,880,542 Major products and services 2025 Crude oil Ps. 50,743,336 — — — 3,888,416 — Ps. 54,631,752 Gas 21,441 — 15,328,156 1,411,517 7,370,231 — 24,131,345 Refined petroleum products — 134,749,893 4,845,076 9,116,917 121,325,685 — 270,037,571 Other — (2,807,997) (6,318,656) 31,985,177 768,486 5,683,612 29,310,622 Services (7,898) 35,348 (3,716) — 395,886 349,632 769,252 Total Ps. 50,756,879 131,977,244 13,850,860 42,513,611 133,748,704 6,033,244 Ps. 378,880,542 Timing of revenue recognition 2025 Products transferred at a point in time Ps. 50,764,777 131,890,087 (23,687,231) 42,513,611 133,352,818 5,425,341 Ps. 340,259,403 Products and services transferred over the time (7,898) 87,157 37,538,091 — 395,886 607,903 38,621,139 Total Ps. 50,756,879 131,977,244 13,850,860 42,513,611 133,748,704 6,033,244 Ps. 378,880,542

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 95 of 128 For the three- and nine -month periods ended September 30, 2024, revenue disaggregation is presented in accordance to the operating segments presentation as they existed prior to the enactment of the Petróleos Mexicanos Law and the New Organic Statute (see Note 6). For the nine-month period ended September 30, Exploration and Production Industrial Transformation Logistics DPRLP Trading Companies Corporate Other Operating Subsidiary Companies Total Geographical market 2024 United States Ps. 139,674,319 — — 123,771,235 94,965,542 — 1,662,811 Ps. 360,073,907 Other 54,925,706 — — — 21,446,430 — 395,603 76,767,739 Europe 53,229,739 — — — 12,829,325 — — 66,059,064 Local 109,946 482,599,661 296,360 — 241,144,092 584 14,497,091 738,647,734 Total Ps. 247,939,710 482,599,661 296,360 123,771,235 370,385,389 584 16,555,505 Ps. 1,241,548,444 Major products and services 2024 Crude oil Ps. 247,829,764 — — — 10,672,199 — — Ps. 258,501,963 Gas 89,860 43,432,462 — 2,726,979 12,909,132 — — 59,158,433 Refined petroleum products — 427,053,488 — 658,943 256,750,284 — — 684,462,715 Other — 11,895,093 — 120,384,965 88,639,583 — 16,530,921 237,450,562 Services 20,086 218,618 296,360 348 1,414,191 584 24,584 1,974,771 Total Ps. 247,939,710 482,599,661 296,360 123,771,235 370,385,389 584 16,555,505 Ps. 1,241,548,444 Timing of revenue recognition 2024 Products transferred at a point in time Ps. 247,919,624 469,151,890 296,360 123,770,887 368,971,198 — 16,530,921 Ps. 1,226,640,880 Products and services transferred over the time 20,086 13,447,771 — 348 1,414,191 584 24,584 14,907,564 Total Ps. 247,939,710 482,599,661 296,360 123,771,235 370,385,389 584 16,555,505 Ps. 1,241,548,444

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 97 of 128 Products / services Nature, performance obligations Timing of revenue recognition The price of the product is determined based on a market components formula and the sale of crude oil. adjustments until the product has arrived at the port of destination. There may be a period of up to two months in determining the final sale price, such as in the case of sales to some regions. Revenue is measured initially estimating variables such as quality and volume claims, delays in boarding, etc. Sale of petroleum products For all petroleum products, there is only one performance obligation that includes transport and handling services to the point of delivery. The price is determined based on the price at the point of delivery, adding the price of the services rendered (freight, handling of jet fuel, etc.) with the provisions and terms established by the Comisión Reguladora de Energía (Energy Regulatory Commission or "CRE"). Revenue is recognized at a point in time when control is transferred to the customer, which occurs either at the point of shipping or when it is delivered at the customer's facilities. Therefore, transportation fees can be included in the price of sale of the product and are considered part of a single performance obligation since transportation is rendered before control is transferred. Revenue is initially measured by estimating variables such as quality and volume claims, etc. Invoices are usually payable within 30 days. Sales of natural gas There is only one performance obligation that includes transport and handling services to the point of delivery. The transaction price is established at the time of sale, including the estimation of variable considerations such as capacity, penalties, extraordinary sales not included in contracts, adjustments for quality or volume claims, and incentives for the purchase of products; which are known days after the transaction. Such variable consideration is recognized to the extent that it is probable that it will not be reversed in a future period. Revenue is recognized at a point in time when control is transferred to the customer, which occurs when it is delivered at the customer's facilities. Therefore, transportation fees can be included in the price of sale of the product and are considered part of a single performance obligation since transportation is rendered before control is transferred. Revenue initially is measured estimating variables as quality and volume claims, etc. Invoices are usually payable within 30 days. Services In cases where within the same service order there are transportation and storage services, there could exist more than one performance obligation, Income is recognized over time as the service is rendered. Invoices are usually payable within 22 days.

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 98 of 128 Products / services Nature, performance obligations Timing of revenue recognition depending on the term of the service. When there is a performance obligation, the price is not distributed, but if it is considered that there is more than one performance obligation, the price of the transaction is considered based on the prices established in the service orders and which also include penalties such as quality and volume claims. Other products There is only one performance obligation that includes transportation for delivery to destination. The sale and delivery of the product are made at the same time and because they are FOB, transportation fees are included in the price of sale of the product. The transaction price is established at the time of sale, including the estimation of variable considerations such as capacity, penalties, extraordinary sales not included in contracts, adjustments for quality or volume claims, and incentives for the purchase of products; which are known days after the transaction. The price of the product is estimated on the date of sale and considers variables such as quality and volume claims, etc. Invoices are usually payable within 30 days. B. Accounts receivable in the statement of financial position As of September 30, 2025 and December 31, 2024, PEMEX had accounts receivable derived from customer contracts in the amounts of Ps. 118,557,988 and Ps. 126,733,175, respectively (see Note 10). C. Practical expedients i. Significant financial component, less than one year PEMEX does not need to adjust the amount committed in consideration for goods and services to account for the effects of a significant financing component, since the transfer and the time of payment of a good or service committed to the customer is less than one year. ii. Practical expedient PEMEX applied the practical expedient, so disclosure about remaining performance obligations that conclude in less than one year is not needed.

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 99 of 128 When PEMEX is entitled to consideration for an amount that directly corresponds to the value of the performance that PEMEX has completed, it may recognize an income from ordinary activities for the amount to which it has the right to invoice. NOTE 8. FINANCIAL INSTRUMENTS A. Accounting classifications and fair values of financial instruments- The following tables present information about PEMEX's carrying amounts and fair values of financial assets and financial liabilities, including their levels in the fair value hierarchy, as of September 30, 2025 and December 31, 2024. It does not include fair value information for financial assets and financial liabilities not measured at fair value if the carrying amount is a reasonable approximation of fair value. Additionally, as of September 30, 2025 and December 31, 2024, the disclosure of the fair value for the lease obligations is not required. Carrying amount Fair value hierarchy As of September 30, 2025 FVTPL FVOCI – debt instruments FVOCI – equity instruments Financial assets at amortized cost Other financial liabilities Total carrying amount Level 1 Level 2 Level 3 Total Financial assets measured at fair value Derivative financial instruments 16,238,196 — — — — 16,238,196 — 16,238,196 — 16,238,196 Total 16,238,196 — — — — 16,238,196 Financial assets not measured at fair value Cash and cash equivalents — — — 395,027,504 — 395,027,504 — — — — Customers — — — 118,557,988 — 118,557,988 — — — — Officials and employees — — — 5,942,564 — 5,942,564 — — — — Sundry debtors — — — 34,947,398 — 34,947,398 — — — — Investments in associates — — — 2,731,475 — 2,731,475 — — — — Notes receivable — — — 940,737 — 940,737 — — — — Mexican Government Bonds — — — 21,461,387 — 21,461,387 21,344,007 — — 21,344,007 Other assets — — — 4,724,617 — 4,724,617 — — — — Total — — — 584,333,670 — 584,333,670 Financial liabilities measured at fair value Derivative financial instruments (74,368,918) — — — — (74,368,918) — (74,368,918) — (74,368,918) Total (74,368,918) — — — — (74,368,918) Financial liabilities not measured at fair value Suppliers — — — — (520,027,164) (520,027,164) — — — — Accounts and accrued expenses payable — — — — (78,500,601) (78,500,601) — — — — Leases — — — — (44,778,650) (44,778,650) — — — — Debt — — — — (1,843,473,939) (1,843,473,939) — (1,736,977,257) — (1,736,977,257) Total — — — — (2,486,780,354) (2,486,780,354)

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 100 of 128 Carrying amount Fair value hierarchy As of December 31, 2024 FVTPL FVOCI – debt instruments FVOCI – equity instruments Financial assets at amortized cost Other financial liabilities Total carrying amount Level 1 Level 2 Level 3 Total Financial assets measured at fair value Derivative financial instruments 9,203,958 — — — — 9,203,958 — 9,203,958 — 9,203,958 Equity instruments (1) — — 962,783 — — 962,783 — 962,783 — 962,783 Total 9,203,958 — 962,783 — — 10,166,741 Financial assets not measured at fair value Cash and cash equivalents — — — 88,841,826 — 88,841,826 — — — — Customers — — — 126,733,175 — 126,733,175 — — — — Officials and employees — — — 5,541,324 — 5,541,324 — — — — Sundry debtors — — — 26,789,620 — 26,789,620 — — — — Investments in associates — — — 2,692,938 — 2,692,938 — — — — Notes receivable — — — 1,021,778 — 1,021,778 — — — — Mexican Government Bonds — — — 35,875,353 — 35,875,353 35,279,002 — — 35,279,002 Other assets — — — 7,927,877 — 7,927,877 — — — — Total — — — 295,423,891 — 295,423,891 Financial liabilities measured at fair value Derivative financial instruments (108,972,467) — — — — (108,972,467) — (108,972,467) — (108,972,467) Total (108,972,467) — — — — (108,972,467) Financial liabilities not measured at fair value Suppliers — — — — (505,989,382) (505,989,382) — — — — Accounts and accrued expenses payable — — — — (72,773,222) (72,773,222) — — — — Leases — — — — (46,825,266) (46,825,266) — — — — Debt — — — — (1,978,772,255) (1,978,772,255) — (1,745,481,072) — (1,745,481,072) Total — — — — (2,604,360,125) (2,604,360,125) (1)Refers to the participation in TAG Pipelines Sur, S. de R.L. de C.V. Debt is valued and registered at amortized cost and the fair value of debt is estimated using quotes from major market sources which are then adjusted internally using standard market pricing models. As a result of relevant assumptions, the estimated fair value does not necessarily represent the actual terms at which existing transactions could be liquidated or unwound. B. Fair value hierarchy PEMEX values the fair value of its financial instruments under standard methodologies commonly applied in the financial markets. PEMEX's related assumptions and inputs therefore fall under the three Levels of the fair value hierarchy for market participant assumptions, as described below. The fair values determined by Level 1 inputs utilize quoted prices in active markets for identical assets or liabilities. Fair values determined by Level 2 inputs are based on quoted prices for similar assets or liabilities in active markets, and inputs other than quoted prices that are observed for assets or liabilities. Level 3 inputs are unobservable inputs for the assets or liabilities, and include situations where there is little, if any, market activity for the assets or liabilities. Management uses appropriate valuation techniques based on the available inputs to measure the fair values of PEMEX's applicable financial assets and liabilities.

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 101 of 128 When available, PEMEX measures fair value using Level 1 inputs, because they generally provide the most reliable evidence of fair value. C. Fair value of DFIs PEMEX periodically evaluates its exposure to international hydrocarbon prices, interest rates and foreign currencies and uses derivative instruments as a mitigation mechanism when potential sources of market risk are identified. PEMEX monitors the fair value of its DFI portfolio on a periodic basis. The fair value represents the price at which one party would assume the rights and obligations of the other and is calculated for DFIs through models commonly used in the international financial markets, based on inputs obtained from major market information systems and price providers. Therefore, PEMEX does not have an independent third party to value its DFIs. PEMEX calculates the fair value of its DFIs through the tools developed by its market information providers, and through valuation models implemented in software packages used to integrate all of PEMEX´s business areas and accounting, such as SAP (System Applications Products). PEMEX's DFI portfolio is composed primarily of swaps, for which fair value is estimated by projecting future cash flows and discounting them with the corresponding market discount factor; for the projection of variable flows, the prices of future contracts of each of the references corresponding to these trades are used. For currency and interest rate options this is done through the Black and Scholes model, which uses as inputs the prices of the underlying futures, the reference prices agreed in the contracted instruments, the market risk-free rates and the implied volatilities of the instruments traded in the markets. In the case of crude oil options, the Levy Model for Asian options is used, which is based on the Black and Scholes Model, with the difference that this model weights the prices of the futures involved during the hedging period and contemplates a volatility adjustment, based on the terms of the corresponding futures. According to IFRS 13 "Fair Value Measurement", the MtM value of DFIs must reflect the creditworthiness of the parties. Consequently, the fair value of a DFI takes into account the risk that either party may default on its obligation, considering the counterparties' probability of default. Due to the above, PEMEX applies the credit value adjustment ("CVA") method to calculate the fair value of its DFIs. For each DFI, the CVA is calculated by determining the difference between the MtM and the estimated MtM adjusted for credit risk. In determining the credit risk, the CVA method takes into account the current market perception about the credit risk of both counterparties, using the following inputs: a) the MtM projection for each payment date based on forward yield curves; b) the implied default probability obtained from both, PEMEX and the counterparty's credit default swaps, at each payment date; and c) the default recovery rates of each counterparty. Given that PEMEX's hedges are cash flow hedges, their effectiveness is preserved regardless of variations in the underlying assets or reference variables since, over time, asset flows are offset by liabilities flows. Therefore, and in addition to the fact that these hedges are established for accounting purposes as trading instruments, it is not considered necessary to measure the hedge's effectiveness or to monitor them. PEMEX's DFIs' fair-value assumptions and inputs fall under Level 2 of the fair value hierarchy for market participant assumptions. D. Accounting treatment applied and impact in the financial statements PEMEX enters into derivatives transactions with the sole purpose of hedging financial risks related to its operations, firm commitments, planned transactions and assets and liabilities recorded on its statement of financial position. Nonetheless, some of these transactions do not qualify for hedge accounting treatment because they do not meet the requirements of the accounting standards for designation as hedges. They are therefore recorded in the condensed consolidated interim financial statements as

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 102 of 128 instruments entered into for trading purposes, despite the fact that their cash flows are offset by the cash flows of the positions (assets or liabilities) to which they relate. As a result, the changes in their fair value are recognized in the "Derivative financial instruments (cost) income, net" line item in the condensed consolidated interim statement of comprehensive income. As of September 30, 2025, and December 31, 2024, the net fair value of PEMEX's DFIs, including both DFIs that have not reached maturity and those that have reached maturity but have not been settled, recognized in the condensed consolidated interim statement of financial position, was Ps. (58,130,722) and Ps. (99,768,509), respectively. As of September 30, 2025, and December 31, 2024, PEMEX did not have any DFIs designated as hedges for accounting purposes. All of PEMEX's DFIs are treated, for accounting purposes, as instruments entered into for trading purposes, therefore any change in their fair value, caused by any act or event, impacts directly in the "Derivative financial instruments (cost) income, net" line item in the condensed consolidated interim statement of comprehensive income. In accordance with established accounting policies, PEMEX has analyzed the different contracts (financial and non-financial contracts) that PEMEX has entered into and has determined that according to the terms thereof none of these agreements meet the criteria to be classified as embedded derivatives. Accordingly, as of September 30, 2025, and December 31, 2024, PEMEX did not recognize any embedded derivatives (foreign currency or index) in the financial and non-financial contracts. For the nine-month periods ended September 30, 2025, and 2024, PEMEX recognized a net gain (loss) of Ps.18,106,809 and Ps. (13,283,533), respectively, in the "Derivative financial instruments (cost) income, net" line item with respect to DFIs treated as instruments entered into for trading purposes. E. TIIE reference rates transition Banco de Mexico (the Mexican Central Bank) announced that the 28-day linked to Interbank Interest rate (TIIE) ceased to be a reference for new contracts as of January 1, 2025. Similarly, the 91-day and 182-day TIIE ceased to be references reference rates for new contracts as of January 1, 2024. Petróleos Mexicanos will carry out the actions it deems pertinent and necessary to modify contracts referenced to TIIE rates in in line with the modifications announced by Banco de Mexico. In the event that TIIE ceases to be published, the financial instruments portfolio referenced to these floating rates is composed of debt instruments and DFIs as shown below: Reference Rate \*Notional Amounts As of September 30, 2025 (in thousands of Pesos) Debt TIIE 28D MXN 96,752,356 DFI TIIE 28D MXN 31,733,673 \*Note: Notional amounts with maturity after September 30, 2025. PEMEX's portfolio also consists of additional debt instruments and DFIs referenced at fixed rates, which are not listed in the table above since PEMEX's fixed rate portfolio will not be impacted by this change.

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 103 of 128 NOTE 9. CASH AND CASH EQUIVALENTS As of September 30, 2025 and December 31, 2024, cash and cash equivalents were as follows: September 30, December 31, 2025 2024 Cash on hand and in banks (1) Ps. 343,299,043 Ps. 52,284,721 Highly liquid investments (2) 51,728,461 36,557,105 Total of cash and cash equivalents Ps.395,027,504 Ps. 88,841,826 (1)Cash on hand and in banks is primarily composed of cash in banks. (2)Mainly composed of short-term Mexican Government investments. NOTE 10. CUSTOMERS AND OTHER FINANCING AND NON-FINANCING RECEIVABLES As of September 30, 2025 and December 31, 2024, accounts receivable and other receivables were as follows: A. Customers September 30, December 31, 2025 2024 Domestic customers Ps. 92,376,782 Ps. 86,225,287 Export customers 26,181,206 40,507,888 Total customers, net (1) Ps.118,557,988 Ps.126,733,175 (1) As of September 30, 2025 and December 31, 2024, total customers include impairment of Ps.(34,340,675) and Ps. (24,396,666), respectively. For the nine-month period ended September 30, 2025 and the twelve-month period ended December 31, 2024, the impairment charge was Ps.(9,944,008) and Ps. (15,438,558), respectively. B. Other financing and non-financing receivables September 30, December 31, 2025 2024 Other financing receivables: Sundry debtors (1) Ps. 34,947,398 Ps. 26,789,620 Employees and officers 5,942,564 5,541,324 Total other financing receivables Ps. 40,889,962 Ps. 32,330,944 Other non-financing receivables: Taxes to be recovered and prepaid taxes Ps. 39,667,413 Ps. 63,432,179 Special Tax on Production and Services 10,851,437 6,135,511 Other accounts receivable 5,515,590 4,965,223 Total other non-financing receivables Ps. 56,034,440 Ps. 74,532,913 (1)Includes Ps.(595,289) and Ps. (788,453) of impairment, as of September 30, 2025 and December 31, 2024, respectively.

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 104 of 128 NOTE 11. INVENTORIES As of September 30, 2025 and December 31, 2024, inventories were as follows: September 30, December 31, 2025 2024 Refined and petrochemicals products Ps. 47,987,201 Ps. 43,950,469 Crude oil 24,834,500 18,645,592 Products in transit 12,795,880 18,984,729 Materials and products in stock 6,307,180 6,320,011 Materials in transit 210,544 555,522 Gas and condensate products 103,170 113,666 Total Ps. 92,238,475 Ps. 88,569,989

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 105 of 128 NOTE 12. WELLS, PIPELINES, PROPERTIES, PLANT AND EQUIPMENT, NET As of September 30, 2025, 2024 and December 31, 2024, wells, pipelines, properties, plant and equipment, net, is presented as follows: Plants Drilling equipment Pipelines Wells Buildings Offshore platforms Furniture and equipment Transportation equipment Construction in progress (1) Land Total fixed assets Investment Balances as of January 1, 2024 Ps.1,070,987,449 18,913,795 491,444,562 1,695,212,594 73,956,002 425,259,020 53,545,137 32,988,437 480,504,766 52,888,295 Ps.4,395,700,057 Acquisitions 7,476,120 5,124,610 3,184,650 45,149,840 10,490 694,070 1,582,600 606,690 135,642,460 — 199,471,530 Reclassifications 889,300 — 488,180 1,148,690 76,950 (868,610) 309,590 51,810 (7,480) — 2,088,430 Capitalization 40,877,940 — 3,714,480 51,669,960 34,923,880 1,212,620 438,920 27,060 (132,892,280) 27,420 — Disposals (725,520) (16,300) (990) — (11,110) (7,940) (1,260,090) (315,040) (2,782,580) (5,080) (5,124,650) Translation effect 19,175,470 — (791,880) — 1,962,400 — 128,100 604,410 36,201,070 365,560 57,645,130 Balances as of September 30, 2024 Ps.1,138,680,759 24,022,105 498,039,002 1,793,181,084 110,918,612 426,289,160 54,744,257 33,963,367 516,665,956 53,276,195 Ps.4,649,780,497 Balances as of January 1, 2024 Ps.1,070,987,449 18,913,795 491,444,562 1,695,212,594 73,956,002 425,259,020 53,545,137 32,988,437 480,504,766 52,888,295 Ps.4,395,700,057 Acquisitions 11,194,280 5,432,300 7,180,410 94,119,630 57,660 2,573,440 2,922,890 817,850 189,951,070 — 314,249,530 Reclassifications 1,357,250 — 397,460 — 252,930 (1,280,890) 309,960 130,500 (6,260) 27,740 1,188,690 Capitalization 44,796,840 — 9,245,250 60,274,710 1,864,030 2,135,690 565,340 55,790 (118,965,090) 27,440 — Disposals (5,171,200) (38,620) (994,620) — (242,880) (7,940) (2,036,150) (545,530) (5,117,236) (62,990) (14,217,166) Translation effect 23,924,080 — (22,690) — 1,962,770 — 151,040 746,120 49,166,860 451,890 76,380,070 Balances as of December 31, 2024 Ps.1,147,088,699 24,307,475 507,250,372 1,849,606,934 77,850,512 428,679,320 55,458,217 34,193,167 595,534,110 53,332,375 Ps.4,773,301,181 Acquisitions 7,945,520 1,075,800 5,186,290 40,650,040 600 1,715,240 2,512,820 1,040,570 53,068,170 — 113,195,050 Reclassifications 929,800 — 522,330 — 1,750 (932,030) (1,390) 48,750 — — 569,210 Capitalization 145,026,170 — 5,654,400 19,816,270 5,246,260 604,370 697,000 223,620 (177,268,500) 410 — Disposals (1,243,750) (68,330) (1,026,560) — (9,320) (14,800) (451,280) (86,350) (552,740) (215,670) (3,668,800) Translation effect (19,200,970) — (21,470) — (1,490,340) — (116,500) (414,400) (27,603,380) (265,660) (49,112,720) Balances as of September 30, 2025 Ps.1,280,545,469 25,314,945 517,565,362 1,910,073,244 81,599,462 430,052,100 58,098,867 35,005,357 443,177,660 52,851,455 Ps.4,834,283,921 Accumulated depreciation and amortization Balances as of January 1, 2024 Ps.(785,552,629) (6,896,584) (308,862,775) (1,341,888,963) (48,568,206) (300,832,110) (46,934,913) (16,908,292) (56,933,419) — Ps.(2,913,377,891) Depreciation and amortization (24,016,750) (511,910) (9,082,640) (62,953,590) (1,326,400) (9,029,920) (1,193,320) (1,305,867) — — (109,420,397) Reclassifications (107,420) — (488,180) (1,148,790) (31,320) 48,420 (309,430) (51,810) 100 — (2,088,430) (Impairment) (76,713,430) — (7,795,540) (16,604,400) — (3,908,560) — — (1,818,200) — (106,840,130) Reversal of impairment 15,520,040 — 2,931,870 20,449,760 — 7,885,350 62,440 — 8,149,225 — 54,998,685 Disposals 578,440 11,630 970 — 8,060 5,070 1,255,820 237,821 — — 2,097,811 Translation effect (12,115,910) — 804,780 — (764,500) — (59,540) (145,500) — — (12,280,670) Balances as of September 30, 2024 Ps.(882,407,659) (7,396,864) (322,491,515) (1,402,145,983) (50,682,366) (305,831,750) (47,178,943) (18,173,648) (50,602,294) — Ps.(3,086,911,022) Balances as of January 1, 2024 Ps.(785,552,629) (6,896,584) (308,862,775) (1,341,888,963) (48,568,206) (300,832,110) (46,934,913) (16,908,292) (56,933,419) — Ps.(2,913,377,891) Depreciation and amortization (32,590,580) (765,490) (12,534,800) (82,997,750) (1,786,750) (12,839,730) (1,628,720) (1,706,388) — — (146,850,208) Reclassifications (330,550) 53,880 (410,050) (53,980) (34,000) 53,950 (309,710) (158,330) 100 — (1,188,690) (Impairment) (119,691,380) — (16,588,490) (27,386,630) (218,120) (9,356,010) — — (5,027,050) — (178,267,680) Reversal of impairment 46,899,260 — 10,442,300 39,134,890 — 19,784,040 62,440 — 8,467,170 — 124,790,100 Disposals 4,712,390 33,950 994,600 — 59,210 5,070 2,030,670 487,820 — — 8,323,710 Translation effect (15,029,580) — 23,010 — (939,730) — (65,130) (186,380) — — (16,197,810) Balances as of December 31, 2024 Ps.(901,583,069) (7,574,244) (326,936,205) (1,413,192,433) (51,487,596) (303,184,790) (46,845,363) (18,471,570) (53,493,199) — Ps.(3,122,768,469) Depreciation and amortization Ps.(23,572,450) (338,030) (8,726,540) (66,692,140) (1,311,480) (9,376,630) (1,252,470) (1,298,232) — — Ps.(112,567,972) Reclassifications (72,020) 1,220 (549,270) — 25,200 72,650 (1,750) (45,240) — — (569,210) (Impairment) (30,708,750) — (32,009,570) (17,121,340) (42,890) (12,365,330) — — (3,231,920) — (95,479,800) Reversal of impairment 29,877,050 — — 2,995,360 — 6,026,920 — — 3,968,291 — 42,867,621 Disposals 691,840 68,330 1,008,550 — 8,750 12,000 450,370 83,691 — — 2,323,531 Translation effect 8,780,550 — 24,800 — 575,400 — 50,480 100,670 — — 9,531,900 Balances as of September 30, 2025 Ps.(916,586,849) (7,842,724) (367,188,235) (1,494,010,553) (52,232,616) (318,815,180) (47,598,733) (19,630,681) (52,756,828) — Ps.(3,276,662,399) Wells, pipelines, properties, plant and equipment—net as of September 30, 2024 Ps.256,273,100 16,625,241 175,547,487 391,035,101 60,236,246 120,457,410 7,565,314 15,789,719 466,063,662 53,276,195 1,562,869,475 Wells, pipelines, properties, plant and equipment—net as of December 31, 2024 Ps.245,505,630 16,733,231 180,314,167 436,414,501 26,362,916 125,494,530 8,612,854 15,721,597 542,040,911 53,332,375 1,650,532,712 Wells, pipelines, properties, plant and equipment—net as of September 30, 2025 Ps.363,958,620 17,472,221 150,377,127 416,062,691 29,366,846 111,236,920 10,500,134 15,374,676 390,420,832 52,851,455 1,557,621,522 Depreciation rates 3 to 5% 5% 2 to 7% — 3 to 7% 4% 3 to 10% 4 to 20% — — Estimated useful lives 20 to 35 20 15 to 45 — 33 to 35 25 3 to 10 5 to 25 — — (1)Mainly wells, pipelines and plants.

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 106 of 128 A. For the nine-month periods ended September 30, 2025 and 2024, the financing cost identified with fixed assets in the construction or installation stage, capitalized as part of the value of such fixed assets, was Ps. 4,352,713 and Ps. 6,403,471, respectively. Financing cost rates during the nine-month periods ended September 30, 2025 and 2024 were 8.35% to 14.11% and 7.82% to 18.68%, respectively. B. The depreciation of fixed assets and amortization of wells for the nine-month period ended September 30, 2025 and 2024, recognized in operating costs and expenses, was Ps. 112,567,972 and Ps. 109,420,397, respectively. These figures include costs related to plugging and abandonment of wells, for the nine-month periods ended September 30, 2025 and 2024 of Ps. 5,681,545 and Ps. 131,336, respectively. C. As of September 30, 2025 and December 31, 2024, provisions relating to future plugging of wells costs amounted to Ps. 111,222,600 and Ps. 115,514,750, respectively, and are presented in the "Provisions for plugging of wells" (see Note 16). D. For the nine-month periods ended September 30, 2025 and 2024, the translation effect of property, plant and equipment items from a different currency than the presentation currency was Ps. (39,580,820) and Ps. 45,364,460, respectively, which consisted of mainly plant. E. For the nine-month periods ended September 30, 2025 and 2024, PEMEX recognized a net impairment of Ps. (52,612,179) and Ps. (51,841,445), respectively, which is presented as a separate line item in the condensed consolidated interim statement of comprehensive income as follows: For the nine-month period ended September 30, 2025 2024 (Impairment) / Reversal of impairment, net Exploration and Extraction (formerly Pemex Exploration and Production) Ps. (32,390,160) Ps. 15,447,401 Logistics as a part of Other Operating Subsidiary Companies (formerly Pemex Logistics) (22,143,105) 582,924 Energy Transformation (formerly Pemex Industrial Transformation) (876,754) — Industrial Processes (formerly Pemex Industrial Transformation) 2,797,840 (67,871,770) (Impairment), net Ps. (52,612,179) Ps. (51,841,445)

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 107 of 128 Cash-Generating Unit of Exploration and Extraction For the nine-month periods ended September 30, 2025 and 2024, the Exploration and Extraction segment recognized a net impairments of Ps. (32,390,160) and Ps. 15,447,401, respectively, shown by CGU as follows: 2025 2024 Tsimin Xux Ps. (10,786,426) Ps. (13,532,251) Ogarrio Magallanes (8,388,378) (9,968,924) Cantarell (7,893,227) 17,930,141 Antonio J. Bermúdez (3,552,799) (3,742,263) Burgos (1,632,667) 494,325 Santuario CEE (1,452,718) — Misión CEE (11,147) 78,299 Ayin Alux (10,021) 2,516,348 Aceite Terciario del Golfo — 10,725,678 Tamaulipas Constituciones — 2,383,525 Arenque — 1,670,775 Poza Rica — 385,159 Cuenca Macuspana — 46,281 Lakach 1,337,223 6,460,308 Impairment Ps. (32,390,160) Ps. 15,447,401 As of September 30, 2025, the Exploration and Extraction segment recognized a net impairment of Ps. (32,390,160) mainly due to: (i) a negative effect in crude oil prices of Ps. 43,048,812, mainly in the Cantarell, Burgos, Tsimin Xux, Antonio J. Bermúdez, CGUs; (ii) an increase in production costs generating a negative effect of Ps. 27,390,272, mainly in the Tsimin Xux, Ogarrio Sanchez Magallanes, and Cantarell CGUs; and (iii) a negative effect of Ps. 11,836,310 due to the fluctuations of the exchange rate from Ps. 20.2683 = U.S.$1.00 as of December 31, 2024 to Ps. 18.3825 = U.S.$1.00 as of September 30, 2025. These effects were partially offset by (i) a decrease in the discount rate of Ps. 41,236,392 from 10.86% as of December 31, 2024 to 7.96% as of September 30, 2025; (ii) a positive tax effect of Ps. 5,455,293 due to a lower tax base due to the decrease in prices and production costs; and (iii) an increase in production profiles volume in the barrel of crude oil equivalent generating a positive effect of Ps. 3,193,549. As of September 30, 2024, Pemex Exploration and Production recognized a net reversal of impairment of Ps.15,447,401 mainly due to: (i) an increase in crude oil gas and condensates prices, generating a positive effect of Ps. 41,135,676 mainly in the Cantarell, Aceite Terciario del Golfo and Tamaulipas Constituciones CGUs; (ii) a positive effect of Ps.31,371,838, due to the fluctuations of the exchange rate from Ps.16.9220 = U.S.$1.00 as of December 31, 2023, to Ps.19.6290 = U.S.$1.00 as of September 30, 2024; and (iii) a positive effect of the decrease in expenses of Ps.28,543,448 due to changes in operational strategies in Cantarell, Aceite Terciario del Golfo, Tamaulipas Constituciones and Lakach CGUs. These effects were partially offset by (i) a negative effect in the discount rate of Ps.44,734,671, from 9.93% in December 31, 2023 to 10.28% in September 30, 2024; (ii) a negative effect of the decrease in production profiles of Ps.27,335,248 in the Tsimin Xux, Ogarrio – Sánchez Magallanes, Antonio J. Bermudez and Burgos CGUs; and (iii) a negative tax effect of Ps.13,533,642 due to an increased tax base resulting from higher prices of petroleum products.

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 108 of 128 The CGUs of the Exploration and Extraction segment are investment projects in productive fields with hydrocarbon reserves associated with proved reserves. These productive hydrocarbon fields contain varying degrees of heating power consisting of a set of wells and are supported by fixed assets associated directly with production, such as pipelines, production facilities, offshore platforms, specialized equipment and machinery. Each project represents the smallest unit which can concentrate the core revenues, with clear costs and expenses that enable future cash flows (value in use) to be determined. The Exploration and Extraction segment determines the recoverable amount of fixed assets based on the long-term estimated prices for Pemex's proved reserves. The recoverable amount on each asset is the value in use. To determine the value in use of long-lived assets associated to hydrocarbon extraction, the net present value of reserves is determined based on the following assumptions: 2025 2024 Average crude oil price 60.59 U.S.$/bl 65.47 U.S.$/bl Average gas price 4.67 U.S.$/mpc 4.80 U.S.$/mpc Average condensates price 66.19 U.S.$/bl 73.18 U.S.$/bl After-tax discount rate 7.96% annual 10.28% annual For the nine-month periods ended September 30, 2025 and 2024 the total forecast production, calculated with a horizon of 25 years, was 6,371 Million barrels of oil equivalent (Mboe) and 6,566 Mboe, respectively. The Exploration and Extraction segment, in compliance with practices observed in the industry, estimates the recovery value of an asset by determining its value in use, based on cash flows associated with proved reserves after taxes and using a discount rate, also after taxes. Cash flows related to plugging wells provision costs are excluded in this computation of discounted cash flows.

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 109 of 128 As of September 30, 2025 and 2024, values in use for each CGU are: 2025 2024 Aceite Terciario del Golfo Ps. 68,394,418 Ps. 37,876,754 Tsimin Xux 30,412,058 20,396,141 Ogarrio Magallanes 27,086,270 25,121,617 Antonio J. Bermúdez 24,689,447 22,514,620 Tamaulipas Constituciones 14,224,533 6,623,237 Cantarell 10,924,335 35,272,341 Poza Rica 9,221,425 6,887,762 Arenque 7,059,912 4,075,837 Lakach 5,159,864 6,460,269 Cuenca de Macuspana 1,455,752 592,090 Santuario 768,784 — Ayin Alux 651,276 — Chuc — 63,820,619 Crudo Ligero Marino — 33,542,145 Ixtal-Manik — 12,818,132 Burgos — 3,904,900 Bellota Chinchorro — 15,184,877 Total Ps. 200,048,074 Ps. 295,091,341

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 110 of 128 Cash-Generating Units of Industrial Processes For the nine-month periods ended September 30, 2025, the Industrial Processes segment recognized a net reversal of impairment of Ps.2,797,840 , shown by CGUs as follows: 2025 Tula Refinery Ps. 10,079,316 Cosoleacaque Petrochemical Complex 1,556,155 Morelos Petrochemical Complex 1,098,350 Pajaritos Ethylene Complex 128,312 Cangrejera Ethylene Complex (41,232) Minatitlán Refinery (292,125) Salamanca Refinery (459,926) Madero Refinery (596,357) Salina Cruz Refinery (2,829,938) Cadereyta Refinery (5,844,715) Reversal of impairment Ps. 2,797,840 As of September 30, 2025, the Industrial Processes segment recognized net impairment of Ps.2,797,840 due mainly to a decrease in the discount rate of CGUs of refined products from 14.75% as of December 31, 2024 to 11.82% as of September 30, 2025; fluctuations of the exchange rate from Ps. 20.2683 = U.S.$1.00 as of December 31, 2024 to Ps. 18.3825 = U.S.$1.00 as of September 30, 2025. To determine the value in use of long-lived assets associated with the CGUs of Industrial Processes, the net present value of cash flows was determined based on the following assumptions: September 30, 2025 Refining Petrochemicals Ethylene Fertilizers Average crude oil Price (U.S.$)(1) 101.8 N.A. Processed volume (1) 889 mbd Variable because the load inputs are diverse Rate of U.S.$18.3825 18.3825 18.3825 18.3825 Useful lives of the cash- generating units (year average) 12 8 10 15 Tax discount rate 11.82% 9.26% 9.26% 11.12% Period 2025 -2036 2025 - 2032 2025 - 2034 2025 - 2039 (1)Average of the first 5 years. CGUs in Industrial Transformation are processing centers grouped according to their types of processes as refineries, petrochemical centers and ethylene and fertilizers complex processes. These centers produce various finished products for direct

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 111 of 128 sale to customers or intermediate products that can be processed in another of its CGUs or by a third party. Each processing center of Pemex Industrial Transformation represents the smallest unit that has distinguishable revenues, with clear costs and expenses that enable future cash flows (value in use) to be determined. Cash flow determinations are made based on PEMEX's business plans, operating financial programs, forecasts of future prices of products related to the processes of the CGUs, budget programs and various statistical models that consider historical information of processes and the capacity of various processing centers. As of September 30, 2025 and 2024, the value in use for CGUs are as follows: 2025 Tula Refinery Ps. 34,487,601 Salamanca Refinery 25,102,870 Cadereyta Refinery 22,885,639 Cangrejera Ethylene Complex 19,705,017 Salina Cruz Refinery 16,736,410 Morelos Petrochemical Complex 1,826,670 Independencia Petrochemical Complex 1,535,388 Pajaritos Ethylene Complex 185,000 Total Ps. 122,464,595 Cash-Generating Units of Energy Transformation For the nine-month periods ended September 30, 2025, the Energy Transformation segment recognized a net impairment of Ps. (876,754) , shown by CGUs as follows: 2025 Ciudad Pemex Gas Processor Complex Ps. (780,129) Cactus Gas Processor Complex (371,315) La Venta Gas Processor Complex (110,103) Matapionche Gas Processor Complex 3,290 Gas Arenque Processor Complex 3,837 Gas Poza Rica Processor Complex 19,496 Coatzacoalcos Gas Processor Complex 127,887 Nuevo Pemex Gas Processor Complex 230,283 Impairment Ps. (876,754)

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 112 of 128 As of September 30, 2025, the Energy Transformation segment recognized a net impairment of Ps. (876,754) due to the fluctuations of the exchange rate from Ps. 20.2683 = U.S.$1.00 as of December 31, 2024 to Ps. 18.3825 = U.S.$1.00 as of September 30, 2025 and the decrease in gross margin due higher production costs. These effects were offset by the decrease in the discount rate of CGUs of refined products from 15.93% as of December 31, 2024 to 12.26% as of September 30, 2025. To determine the value in use of long-lived assets associated with the CGUs of Energy Transformation, the net present value of cash flows was determined based on the following assumptions: September 30, 2025 Gas Processed volume (1) 2,555 mmpcd of humid gas Rate of U.S.$18.3825 Useful lives of the cash-generating units (year average) 8 Tax discount rate 12.26% Period 2025 - 2032 (1) Average of the first 5 years. CGUs in the Energy Transformation segment are processing centers grouped according to their types of processes in the gas complex processors. These centers produce various finished products for direct sale to customers or intermediate products that can be processed in another of its CGUs or by a third party. Each processing center of the Energy Transformation segments represents the smallest unit that has distinguishable revenues, with clear costs and expenses that enable future cash flows (value in use) to be determined. Cash flow determinations are made based on PEMEX's business plans, operating financial programs, forecasts of future prices of products related to the processes of the CGUs, budget programs and various statistical models that consider historical information of processes and the capacity of various processing centers. As of September 30, 2025, the value in use for the CGUs as follows: 2025 Nuevo Pemex Gas Processor Complex Ps. 7,650,765 Ciudad Pemex Gas Processor Complex 5,746,105 Cactus Gas Processor Complex 4,475,667 Burgos Gas Processor Complex 1,368,492 Coatzacoalcos Gas Processor Complex 890,176 La Venta Gas Processor Complex 915,660 Total Ps. 21,046,865

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 113 of 128 Cash-Generating Units of Industrial Transformation (until June 1, 2025 see Note 1) For the nine-month periods ended September 30, 2024, the Industrial Processes segment recognized a net impairment of Ps. (67,871,770), shown by CGUs as follows: 2024 Salina Cruz Refinery Ps. (17,468,195) Minatitlán Refinery (15,335,373) Cadereyta Refinery (10,818,788) Salamanca Refinery (6,721,667) Madero Refinery (5,445,091) Fertilizers (3,238,389) Ciudad Pemex Gas Processor Complex (3,177,751) Tula Refinery (1,744,025) Gas Burgos Gas Processor Complex (1,665,672) Cactus Gas Processor Complex (1,321,110) Morelos Petrochemical Complex (1,015,359) Coatzacoalcos Gas Processor Complex (435,265) Cangrejera Ethylene Complex (419,501) La Venta Gas Processor Complex (255,446) Matapionche Gas Processor Complex (158,745) Pajaritos Ethylene Complex (41,370) Gas Arenque Processor Complex 2,621 Gas Poza Rica Processor Complex 149,459 Nuevo Pemex Gas Processor Complex 1,237,897 Impairment Ps. (67,871,770) As of September 30, 2024, Pemex Industrial Transformation recognized a net impairment of Ps.(67,871,770) due to a (i) decrease in estimated gross income as a result of adverse operational and market conditions; (ii) an increase in the discount rate of CGUs of refined products from 13.68% as of December 31, 2023 to 13.98% as of September 30, 2024, and (iii) variations in the exchange rate used in the projected cash flows from Ps.16.9220 = U.S.$1.00 as of December 31, 2023 to Ps.19.6290 = U.S. $1.00 as of September 30, 2024.

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 114 of 128 To determine the value in use of long-lived assets associated with the CGUs of Pemex Industrial Transformation, the net present value of cash flows was determined based on the following assumptions: As of September 30, 2024 Refining Gas Petrochemicals Ethylene Fertilizers Average crude oil Price (U.S.$) 104.58 N.A. N.A. N.A. N.A. Processed volume (1) 1,030 mbd 2,428 mmpcd de gas húmedo Variable because the load inputs are diverse Rate of U.S.$$19.6290 $19.6290 $19.6290 $19.6290 $19.6290 Useful lives of the cash-generating units (year average) 11 7 5 6 5 Pre-tax discount rate 13.98% 14.09% 10.46% 10.46% 11.44% Period (2) 2024-2034 2024-2030 2024-2028 2024-2029 2024-2028 (1)Average of the first four years. (2)The first five years are projected and stabilize at year six. N.A. = Not applicable CGUs in Pemex Industrial Transformation are processing centers grouped according to their types of processes as refineries, gas complex processors, and petrochemical centers. These centers produce various finished products for direct sale to customers or intermediate products that can be processed in another of its CGUs or by a third party. Each processing center of Pemex Industrial Transformation represents the smallest unit that has distinguishable revenues, with clear costs and expenses that enable future cash flows (value in use) to be determined. Cash flow determinations are made based on PEMEX's business plans, operating financial programs, forecasts of future prices of products related to the processes of the CGUs, budget programs and various statistical models that consider historical information of processes and the capacity of various processing centers.

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 115 of 128 The recoverable amount of assets is based on each asset's value in use. The value in use for each asset is calculated based on discounted cash flows, taking into consideration the volumes to be produced and sales to be carried out. As of September 30, 2024, the value in use for the impairment of fixed assets was as follows: 2024 Tula Refinery Ps. 49,412,422 Salamanca Refinery 18,718,170 Cadereyta Refinery 18,327,939 Cangrejera Ethylene Complex 10,957,462 Salina Cruz Refinery 9,691,783 Nuevo Pemex Gas Processor Complex 8,889,274 Ciudad Pemex Gas Processor Complex 8,206,845 Cactus Gas Processor Complex 5,791,934 Independencia Petrochemical Complex 2,551,933 La Venta Gas Processor Complex 1,141,934 Coatzacoalcos Gas Processor Complex 1,113,466 Pajaritos Ethylene Complex 185,000 Burgos Gas Processor Complex 67,181 Total Ps. 135,055,343 Cash-Generating Units of Logistics as a part of Other Operating Subsidiary Companies (formerly Pemex Logístics) During the nine-month period ended September 30, 2025, Pemex Logistics recognized a net impairment of Ps.(22,143,105) mainly to decrease in the estimated pipelines CGUs cash flows due to the percentage of the allocable cost of petroleum products losses is not longer included. The CGUs of the Logistics segment are pipelines and transportation equipment. The recoverable amount of assets as of September 30, 2025, was Ps.76,097,669, based on discounted cash flows and discount rate of 13.99% and useful live of 17 years. Cash-Generating Units Pemex Logistics (until June 1, 2025 see Note 1) During the nine-month period ended September 30, 2024, Pemex Logistics recognized a net reversal of impairment of Ps. 582,924 due to: a decrease in the discount rate used for the project future cash flows in storage terminals from 14.80% as of December 31, 2023 to 14.57% as of September 30, 2024. The CGUs of Pemex Logistics are storage terminals, pipelines and transport equipment. The recoverable amounts of the assets as of September 30, 2024 and 2023 were Ps.73,098,806, each corresponding to the discounted cash flows at the rate of 14.57% and 17 years of useful lives, respectively.

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 116 of 128 NOTE 13. INTANGIBLE ASSETS, NET As of September 30, 2025 and December 31, 2024, intangible assets, net were mainly wells unassigned to a reserve and other components of intangible assets, which amounted to Ps. 13,602,920 and Ps. 17,088,277, respectively: A. Wells unassigned to a reserve September 30, 2025 2024 Wells unassigned to a reserve: Balance at the beginning of the year Ps. 15,573,570 Ps. 18,940,360 Additions to construction in progress 10,635,991 24,708,576 Transfers against expenses (7,218,851) (13,340,903) Transfers against fixed assets (6,811,189) (6,701,403) Balance at the end of the period Ps. 12,179,521 Ps. 23,606,630 For the nine-month periods ended September 30, 2025 and 2024, PEMEX recognized expenses related to unsuccessful wells of Ps. 14,380,274 and Ps. 21,876,768, respectively, directly in its statement of comprehensive income. B. Other intangible assets Other intangible assets are mainly licenses, exploration expenses, evaluation of assets and concessions. Licenses Exploration expenses, evaluation of assets and concessions Total Cost Balance as of January 1, 2025 Ps. 7,183,553 1,949,820 Ps. 9,133,373 Additions 76,289 15,414 91,703 Effects of foreign exchange 32,358 (181,863) (149,505) 7,292,200 1,783,371 9,075,571 Amortization accumulated Balance as of January 1, 2025 (6,779,294) (839,372) (7,618,666) Amortization (160,096) (21,848) (181,944) Effects of foreign exchange 68,742 79,696 148,438 (6,870,648) (781,524) (7,652,172) Balance as of September 30, 2025 Ps. 421,552 1,001,847 Ps. 1,423,399 Useful lives 1 to 3 years Up to 36 years

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 117 of 128 Licenses Exploration expenses, evaluation of assets and concessions Total Cost Balance as of January 1, 2024 Ps. 6,562,014 1,587,720 Ps. 8,149,734 Additions 354,441 37,922 392,363 Effects of foreign exchange 230,384 260,788 491,172 7,146,839 1,886,430 9,033,269 Amortization accumulated Balance as of January 1, 2024 Ps. (6,060,212) (679,063) (6,739,275) Amortization (280,583) (18,166) (298,749) Effects of foreign exchange (191,752) (110,302) (302,054) (6,532,547) (807,531) (7,340,078) Balance as of September 30, 2024 Ps. 614,292 1,078,899 Ps. 1,693,191 Useful lives 1 to 3 years Up to 36 years NOTE 14. GOVERNMENT BONDS AND OTHER ASSETS A. Government bonds The following table sets forth the balance of Mexican Government local bonds (the "Government Bonds") held by Petróleos Mexicanos valued at amortized cost as of September 30, 2025 and December 31, 2024: September 30, 2025 December 31, 2024 Government bonds (1) Ps. 21,461,387 Ps. 35,875,353 Less: current portion of Government Bonds, net of expected credit losses 21,461,387 14,740,032 Total long-term notes receivable Ps. — Ps. 21,135,321 (1) As of September 30, 2025 and December 31, 2024, includes an expected credit loss of Ps.1,839 and Ps.2,869, respectively. As of November 19, 2020, the value of the Government Bonds was Ps. 128,786,611, and the liability was Ps. 95,597,610. On November 20, 2020, Petróleos Mexicanos monetized the whole of the Government Bonds by entering into a three-year financial arrangement to partially raise an equivalent of Ps. 95,597,610 at an annual rate of 8.56275%, maturing November 24, 2023. Petróleos Mexicanos retains the risks, benefits and economic rights of the Government Bonds, which were delivered to a financial institution. Petróleos Mexicanos will continue to collect coupon and principal payments from the securities throughout the term of the transaction. Therefore, Petróleos Mexicanos recognizes these Government Bonds as restricted assets and recognizes short-term debt for the monetization. The resources from the Government Bonds were transferred to the Fondo Laboral Pemex (Pemex Labor Fund, or "FOLAPE") for payments related to its pension and retirement plan obligations.

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 118 of 128 During the period from January 1 to September 30, 2025, interest income generated by the Government Bonds amounted to Ps.1,444,470, of which Petróleos Mexicanos received payments in the amount of Ps.1,819,299. During the period from January 1 to September 30, 2024, interest income generated by the Government Bonds amounted to Ps. 3,808,304, of which Petróleos Mexicanos received payments in the amount of Ps. 4,328,054. As of September 30, 2025 and December 31, 2024, the Government Bonds consist of 1 and 5 series of development bonds, respectively (D Bonds and M Bonds) issued by the Secretaría de Hacienda y Crédito Público ("Ministry of Finance and Public Credit" or "SHCP") with maturities between 2025 and 2026, at nominal values of Ps. 21,419,618 and Ps.35,778,918, respectively. As of September 30, 2025 and December 31, 2024, the fair value of the transferred assets was Ps. 21,344,007 and Ps. 35,279,002, respectively, and the fair value of the associated liabilities was Ps. 20,135,747 and Ps. 33,941,600, respectively, resulting in a net position of Ps. 1,208,260 and Ps. 1,337,402, respectively. As of September 30, 2025 and December 31, 2024, the recorded liability was Ps. 20,055,036 (Ps. 19,942,808 of principal and Ps. 112,228 of interest) and Ps. 34,357,836 (Ps. 34,006,893 of principal and Ps. 350,943 of interest), respectively. The roll-forward of the Government Bonds is as follows: As of September 30, 2025 2024 Balance as of the beginning of the year Ps. 35,875,353 Ps. 64,132,418 Government Bonds collected (1) (14,359,299) (20,936,777) Accrued interests 1,444,470 3,808,304 Interests received from bonds (1,819,299) (4,328,054) Amortized cost 319,133 366,598 Reversal of impairment of bonds 1,029 2,153 Balance at the end of the period Ps. 21,461,387 Ps. 43,044,642 (1)As of September 30, 2025 four series of Government Bonds were collected in February, April, June and August. B. Other assets As of September 30, 2025 and December 31, 2024, the balance of other assets was as follows: September 30, 2025 December 31, 2024 Restricted cash (1) Ps. 18,718,961 Ps. 17,119,599 Other 5,010,569 4,657,144 Payments in advance (2) 4,176,240 4,029,445 Insurance 1,969,885 1,922,587 Total other assets Ps. 29,875,655 Ps. 27,728,775 (1)As of September 30, 2025 and December 31, 2024, restricted cash mainly consists of collateral for a financing transaction maturing in November 2026, amounting to Ps.15,790,568 and Ps.14,972,193, respectively, as well as cash related to court-ordered seizures amounting to Ps.2,928,379 and Ps.2,417,406, respectively. (2)Mainly advance payments to contractors for the construction of the Olmeca Refinery in Dos Bocas, Paraíso, Tabasco, through PTI ID.

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 119 of 128 NOTE 15. DEBT The Federal Revenue Law applicable to PEMEX as of January 1, 2025, published in the Official Gazette of the Federation on December 19, 2024, authorized Petróleos Mexicanos and its Subsidiary Entities to incur an internal net debt up to Ps.143,403,700 and an external net debt up to U.S.$5,512,700. PEMEX can incur additional domestic or external debt, as long as the total amount of net debt does not exceed the ceiling established by the Federal Revenue Law. The Board of Directors approves the terms and conditions for the incurrence of obligations that constitute public debt of Petróleos Mexicanos for each fiscal year, in accordance with the Petróleos Mexicanos Law and the Reglamento de la Ley de Petróleos Mexicanos (Regulations to the Petróleos Mexicanos Law). The terms and conditions are promulgated in accordance with the guidelines approved by the SHCP for Petróleos Mexicanos for the fiscal year of 2025. During the period from January 1 to September 30, 2025, PEMEX participated in the following outstanding financing activities: • On January 22, 2025, Petróleos Mexicanos issued U.S.$400,000, bearing interest at a floating rate linked to 30-day SOFR plus a margin of 350 basis points due March 2026. • On February 7, 2025, Petróleos Mexicanos issued U.S.$1,487,457, bearing interest at a floating rate linked to 30-day SOFR plus a margin of 350 basis points due May 2026. • On February 10, 2025, Petróleos Mexicanos entered into a Ps.5,000,000 credit facility bearing interest at a floating rate linked to 91-day TIIE plus a margin of 350 basis points, maturing in February 2027. The credit agreement is fully drawn. • On February 21, 2025, Petróleos Mexicanos drew U.S.$1,000,000, from a credit facility bearing interest at a floating rate linked to 90-day compounded SOFR plus a margin of 350 basis points, maturing in June 2026. • On March 11, 2025, Petróleos Mexicanos issued a promissory note for the principal amount of Ps.3,000,000, bearing interest at a floating rate linked to 28-day TIIE plus a margin 350 basis points, maturing in October 2025. • On March 14, 2025, Petróleos Mexicanos entered into a Ps.5,000,000, credit facility bearing interest at a floating rate linked to 182-day TIIE plus a margin of 500 basis points, maturing in March 2027. The credit agreement is fully available. • On March 25, 2025, Petróleos Mexicanos issued a promissory note for the principal amount of Ps.2,000,000, bearing interest at a floating rate linked to 28-day TIIE plus a margin 350 basis points, maturing in November 2025. • On March 26, 2025, Petróleos Mexicanos entered into a Ps.5,972,676, credit facility in two tranches: the first one of Ps.2,986,338 bearing interest at a floating rate linked to 182-day TIIE plus a margin of 375 basis points, maturing in March 2026, and the second of Ps.2,986,338 bearing interest at a floating rate linked to 182-day TIIE plus a margin of 200 basis points, maturing in March 2026. • On August 18, 2025, Petróleos Mexicanos entered into a securities lending transaction with a Luxembourg special purpose vehicle, Eagle Funding LuxCo S.à r.l., acting in respect of its compartment "EFL Compartment I" ("EFL I"). Petróleos Mexicanos received U.S. Treasury Securities (the "Eligible Assets") in exchange for a fee payable to EFL I. Petróleos Mexicanos then entered into a 5-year repurchase transaction with three international financial banks pursuant to which it sold the Eligible Assets for approximately U.S.11,354,374 (Ps.213,617,793). Pursuant to the repurchase transaction, Petróleos Mexicanos is required to repurchase the Eligible Assets in 10 semi-annual instalments starting in 2026 and ending in 2030, and will receive a corresponding amount of Eligible Assets upon each instalment payment, which Petróleos Mexicanos will in turn deliver (or cause the international financial banks to deliver) to EFL I pursuant to the terms of the securities lending transaction. In addition, Petróleos Mexicanos will pay a price differential to the participating banks semi-annually (until maturity of the repurchase transaction), net of any income such banks receive pursuant to the Eligible Assets. Petróleos Mexicanos does not have control and does not retain substantially all the risks and rewards of the Eligible Assets, accordingly Petróleos Mexicanos will not recognize assets or liabilities from the lending transaction, and will recognize cash received from the repurchase transaction as debt.

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 120 of 128 As of September 30, 2025, PEMEX had U.S.$5,738,000 and Ps.20,500,000 in credit lines in order to provide liquidity of which U.S.$4,178,000 and Ps.20,500,000 were available. As of December 31, 2024, the outstanding amount under PMI Trading's revolving credit line was U.S.$206,314. From January 1 to September 30, 2025, PMI Trading obtained and repaid U.S.$540,000 from its revolving credit line. As of September 30, 2025, the outstanding amount under this revolving credit line was U.S.$206,314 and the available amount was U.S.$23,686. The following table presents the roll-forward of total debt of PEMEX for each of the nine-month periods ended September 30, 2025 and 2024, which includes short and long-term debt: 2025 (1) 2024 (1) Changes in total debt: At the beginning of the year Ps. 1,978,772,255 Ps. 1,794,470,357 Loans obtained - financing institutions 817,316,948 802,721,233 Debt payments (795,941,218) (904,734,885) Accrued interest (2)(3) (148,046,296) 117,720,180 Interest (paid) (125,101,327) (121,804,035) Foreign exchange 116,473,577 221,704,153 At the end of the period Ps. 1,843,473,939 Ps. 1,910,077,003 (1)These amounts include accounts payable by Financed Public Works Contracts ("FPWC") (formerly known as, Multiple Services Contracts), which do not generate cash flows. (2)During 2025, includes Ps. 967,858 of premiums and awards amortizations; Ps. (539,553) of fees and expenses related to the issuance of debt and amortized cost of Ps. 397,933. (3)During 2024, includes Ps. 372,828 of premiums and awards amortizations; Ps. (1,494,781) of fees and expenses related to the issuance of debt and amortized cost of Ps. 1,852,912. As of September 30, 2025 and 2024, PEMEX used the following exchange rates to translate the outstanding balances in foreign currencies to pesos in the statement of financial position: 2025 2024 U.S. dollar 18.3825 19.6290 Japanese yen 0.1229 0.1357 Pounds sterling 24.6399 26.3421 Euro 21.5075 21.9472 Swiss francs 23.0386 23.2049 UDI 8.550668 8.247167

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 121 of 128 NOTE 16. PROVISIONS FOR SUNDRY CREDITORS As of September 30, 2025 and December 31, 2024, the provisions for sundry creditors and others is as follows: September 30, 2025 December 31, 2024 Provision for plugging of wells (Note 12) Ps. 111,222,600 Ps. 115,514,750 Provision for trials in process (Note 18) 31,728,996 13,186,811 Provision for environmental costs 10,717,633 9,134,000 Total Ps. 153,669,229 Ps.137,835,561 NOTE 17. EQUITY (DEFICIT) A. Certificates of Contribution "A" The capitalization agreement between Petróleos Mexicanos and the Mexican Government states that the Certificates of Contribution "A" constitute permanent capital. For the nine-month period ended September 30, 2025, Petróleos Mexicanos received Ps.380,100,879 in Certificates of Contribution "A" from the Mexican Government. During 2024, Petróleos Mexicanos received Ps.156,509,050 in Certificates of Contribution "A" from the Mexican Government. PEMEX's Certificates of Contribution "A" are as follows: Amount Certificates of Contribution "A" as of December 31, 2023 Ps. 1,196,207,416 Increase in Certificates of Contribution "A" during 2024 156,509,050 Certificates of Contribution "A" as of December 31, 2024 Ps. 1,352,716,466 Increase in Certificates of Contribution "A" during 2025 380,100,879 Certificates of Contribution "A" as of September 30, 2025 Ps. 1,732,817,345

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 122 of 128 Mexican Government contributions made in the form of Certificates of Contribution "A" during the nine-month period ended September 30, 2025 totaled Ps.380,100,879 and were designated for the strengthening of Petróleos Mexicanos' financial position and Waste utilization project in Miguel Hidalgo and Salina Cruz, Oaxaca Refineries as follows: Date Strengthening of financial position January 10, Ps. 20,382,300 January 10, 1,803,442 February 7, 15,000,000 February 19, 23,532,337 March 19, 19,284,494 April 21, 7,930,143 May 2, 2,905,392 June 2, 3,700,830 July 1, 5,256,579 July 22, 10,511,768 August 11, 3,548,535 August 25 (1), 3,422,870 August 25 (1), 1,130,818 August 25 (1), 1,084,248 September 25, 145,783,855 September 25, 107,984,484 September 26(1), 1,862,240 September 26(1), 1,616,119 September 26(1), 3,360,425 Total Ps. 380,100,879 (1) Includes financing to the Waste utilization project at the Miguel Hidalgo and Salina Cruz refineries. B. Mexican Government contributions As of September 30, 2025 and December 31, 2024, there were no Mexican Government contributions apart from Certificates of Contribution "A". C. Legal reserve Under Mexican law, each of the Subsidiary Companies is required to allocate a certain percentage of its net income to a legal reserve fund until the fund reaches an amount equal to a certain percentage of each Subsidiary Company's capital stock. As of September 30, 2025 and December 31, 2024, there were no changes to the legal reserve. D. Accumulated other comprehensive income (loss) As a result of the analysis of the discount rate related to the liability for employee benefits for the nine-month period ended September 30, 2025, PEMEX recognized a net actuarial (loss) of Ps.(196,420,638) in other comprehensive income, related to retirement and post-employment benefit obligations. The variation related to retirement and post-employment benefits resulted

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 123 of 128 from a decrease in the discount rate and plan asset rates from 11.28% as of December 31, 2024, to 9.75% as of September 30, 2025. For the nine-month period ended September 30, 2024, PEMEX recognized net actuarial gains of Ps.121,077,944 in other comprehensive results, net of deferred income tax of Ps. (8,039,019) related to retirement and post-employment benefits. The gains resulted from an increase in discount and plan asset return rates, rising from 9.42% on December 31, 2023 to 10.11% on September 30, 2024. E. Accumulated deficit from prior years PEMEX has recorded losses in the past several years. However, the Ley de Concursos Mercantiles ("Commercial Bankruptcy Law of Mexico") is not applicable to Petróleos Mexicanos State-Owend Public Company and the Subsidiary Entities. Furthermore, the financing agreements to which PEMEX is a party do not provide for financial covenants that would be breached or events of default that would be triggered as a consequence of negative equity. F. Uncertainty related to going concern The condensed consolidated interim financial statements have been prepared assuming PEMEX will continue as a going concern. The going concern assumption contemplates the realization of assets and satisfaction of liabilities in normal course of business. However, substantial doubt about PEMEX's ability to continue as a going concern exists. Facts and conditions PEMEX has substantial debt, incurred mainly to finance the capital expenditures needed to carry out its capital investment projects and to fund its operating expenses. Due to its heavy fiscal burden resulting from the payment of hydrocarbon extraction duties, the cash flows derived from PEMEX's operations in recent years have not been sufficient to fully fund its operations and capital expenditure programs, which have been partially supported by the Mexican Government's equity contributions. In addition, PEMEX´s working capital has deteriorated in recent years. In 2024, certain ratings agencies downgraded PEMEX's credit rating, mainly driven by concerns around its operating performance, liquidity and the Mexican Government's ability and willingness to provide PEMEX with additional liquidity, as well the volatility of the crude oil prices and the downgrade of the Mexican Government's sovereign debt rating, impacting PEMEX's access to the financial markets, the cost and terms of PEMEX's new debt and contract renegotiations that PEMEX may carry out during 2025. These conditions have negatively impacted PEMEX's financial performance and liquidity position. On August 1, 2025, Fitch Ratings upgraded PEMEX's long-term local and foreign currency issuer default to "BB" from "B+". Fitch Ratings also removed its Rating Watch Positive and upgraded the rating of PEMEX's senior unsecured notes outstanding to "BB" from "B+"/"RR4." On August 27, 2025, Moody's Rating upgraded PEMEX's long-term local currency senior unsecured debt ratings for its PEMEX 12U, PEMEX 14U, PEMEX 14-2, and PEMEX 15U notes to "AAA.mx" from "AA+.mx" and affirmed its outlook to stable from negative. For the nine-month period ended September 30, 2025 and 2024, PEMEX recognized net (loss) of Ps. (45,055,006) and Ps.(430,102,758), respectively. In addition, as of September 30, 2025 and December 31, 2024, PEMEX had a negative equity of Ps.(1,895,797,662), and Ps.(1,983,775,736), respectively, mainly due to continuous net losses in prior years, and a negative working capital of Ps.463,826,251 and Ps.767,968,661, as of September 30, 2025 and December 31, 2024, respectively. PEMEX has budget autonomy, and, in public finance terms, is subject to the cash flows financial balance goals approved in the Decreto de Presupuesto de Egresos de la Federación ("Federal Expenditure Budget Decree"). This represents the difference between its gross revenues (inflows) and its total budgeted expenditures (outflows) including the financial cost of its debt, which is proposed by the SHCP and approved by the Chamber of Deputies. The Federal Budget for 2025 authorized PEMEX to have a financial balance budget of Ps.248,722,000 and conduct financing activities that do not represent a net debt in terms of public debt greater than Ps.245,388,650 and other financing activities that do not represent net public debt. This financial balance does

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 124 of 128 not consider the payment of principal during 2025, which PEMEX expects to cover with equity contributions from the Mexican Government. PEMEX has short-term debt principal maturities (including interest payable) of Ps.443,168,492 as of September 30, 2025. The combined effect of the above-mentioned events indicates substantial doubt about PEMEX's ability to continue as a going concern. Actions- PEMEX and the Mexican Government are carrying out the following actions, among others, to preserve liquidity and let PEMEX pay its commitments: The application of the tax credit decree to automotive fuels published in the Official Gazette of the Federation of March 4, 2022 was in effect for 2023 and 2024, and remains in effect through 2025. This decree allows PEMEX to substantially recover from the Mexican Government the difference between the international reference price of gasoline and diesel and the price at which they trade in the domestic market, accounting for inflation. Pursuant to the Energy Reform Decree, Petróleos Mexicanos and its Subsidiary Entities are no longer subject to income tax as of November 1, 2024. Separately, the 2025 Federal Revenue Law introduces changes to the fiscal regime applicable to Petróleos Mexicanos aimed at simplifying its fiscal framework and reducing the number of taxes and duties to which it is subject. As of January 1, 2025, the Mexican Government has consolidated the Profit-Sharing Duty, the Hydrocarbon Extraction Duty and the Hydrocarbon Exploration Duty payable by Petróleos Mexicanos into the Welfare Oil Duty, which is set at a general rate of 30% on oil and fuel production and 11.63% for non-associated gas. PEMEX is currently evaluating the economic nature of the welfare oil duty, which may result in a classification change in the Statement of Comprehensive Income in subsequent periods. The Mexican Government's Federal Budget for 2025 includes Ps.136,210,300 for PEMEX to face its short-term liabilities, which will be received during 2025. Further, PEMEX has the capacity to refinance its short-term debt maturities through direct loans and revolving credit facilities. PEMEX's ability to refinance its short-term debt depends on factors beyond its control. The Revenue Law for 2025 also authorized PEMEX to incur a net additional indebtedness up to Ps.245,388,650 (Ps.143,403,700 and U.S.$5,512,700), which is considered as public debt by the Mexican Government and may be used to partially cover its financial balance in 2025. PEMEX reviews and aligns its capital expenditures portfolio in accordance with updated economic assumptions on a periodic basis and giving priority to those projects which increase production in an efficient manner and at the lowest cost. On August 5, 2025, PEMEX presented its Plan Estratégico 2025–2035 (the "Strategic Plan"), grounded in the principles of energy sovereignty, security and sustainable development, that aims to restore and enhance its operational, financial and institutional conditions in line with Mexico's national energy policy. The Strategic Plan is structured along operational strategy, aim to boost production across hydrocarbons, petrochemicals and fertilizers while reducing greenhouse gas (GHG) emissions and reinforcing social responsibility; and capitalization and financing strategy, aim to strengthen PEMEX's financial stability through capital structure optimization, debt reduction and restructuring, cost reduction and sustainable financing. Petróleos Mexicanos State-Owned Public Company is not subject to the Commercial Bankruptcy Law of Mexico and none of PEMEX's existing financing agreements include any financial covenants that could lead to the demand for immediate payment of its debt due to having negative equity or non-compliance with financial ratios. As a reference, PEMEX prepared its condensed consolidated interim financial statements as of September 30, 2025 and December 31, 2024 on a going concern basis. There are certain conditions that have generated material uncertainty and significant

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 125 of 128 doubts concerning the entity's ability to continue operating, including recurring net losses, negative working capital and negative equity. Those financial statements do not contain any adjustments that would be required if they were not prepared on a going concern basis. G. Non-controlling interest PEMEX does not currently own all of the shares of PMI CIM and COMESA, variations in income and equity from these entities are also presented in the condensed consolidated interim statements of changes in equity (deficit) as "non-controlling interest." As of September 30, 2025 and December 31, 2024, non-controlling interest represented (losses) of Ps.(283,179) and Ps. (274,387), respectively, in PEMEX's equity (deficit). NOTE 18. CONTINGENCIES In the ordinary course of business, PEMEX is named in a number of lawsuits of various types. PEMEX evaluates the merit of each claim and assesses the likely outcome. PEMEX has not recorded provisions related to ongoing legal proceedings since an unfavorable resolution is not expected in such proceedings, with the exception of the proceeding described in further detail in this Note. PEMEX is involved in various civil, tax, criminal, administrative, labor and commercial lawsuits and arbitration proceedings. The results of these proceedings are uncertain as of the date of these condensed consolidated interim financial statements. As of September 30, 2025 and December 31, 2024, PEMEX had accrued a reserve of Ps. 31,728,996 and Ps. 13,186,811, respectively, for these contingent liabilities. As of September 30, 2025, the current status of the principal lawsuits in which PEMEX is involved is as follows: • On April 4, 2011, Pemex Exploration and Production was summoned before the Séptima Sala Regional Metropolitana ("Seventh Regional Metropolitan Court") of the Tribunal Federal de Justicia Fiscal y Administrativa ("Tax and Administrative Federal Court") in connection with an administrative claim (No. 4957/11-17-07-1) filed by EMS Energy Services de México, S. de R.L. de C.V. and Energy Maintenance Services Group I. LLC requesting that Pemex Exploration and Production's termination of the public works contract be declared null and void. In a concurrent proceeding, the plaintiffs also filed an administrative claim (No. 13620/15-17-06) against Pemex Exploration and Production before the Sexta Sala Regional Metropolitana ("Sixth Regional Metropolitan Court") of the Tax and Administrative Federal Court in Mexico City seeking damages totaling U.S.$193,713 related to the above-mentioned contract. Pemex Exploration and Production filed a response requesting the two administrative claims be joined in a single proceeding, which was granted. On April 30, 2019, a judgment was issued by the Segunda Seccion de la Sala Superior ("Second Section of the Superior Court") in favor of Pemex Exploration and Production. On June 25, 2019, the plaintiffs filed an amparo (D.A. 397/2019) before the Tercer Tribunal Colegiado en Materia Administrativa del Primer Circuito ("Third Administrative Joint Court of the First Circuit"), which was granted. On March 12, 2020, Pemex Exploration and Production filed a motion to review against the resolution granting this amparo before the Third Administrative Joint Court of the First Circuit. On October 1, 2020, the Third Administrative Joint Court declared the resolution null and void, no amount was granted in favor of the plaintiffs, among others. On February 24, 2022, an amparo (350/2020) was granted in favor of EMS Energy Services de México, S. de R.L. On March 17, 2022, a motion was filed to draw the resolution by the Suprema Corte de Justicia de la Nación (Supreme Court of Justice of the Nation). On June 16, 2022, a resolution was issued in connection with the amparo 350/2020 stating that the plaintiffs partially proved their requests, and the resolution was declared null and void, among others. On August 1, 2022, a motion to review this resolution was filed and admitted (RF 574/2022) by the Third Administrative Joint Court of the First Circuit. On September 13, 2022, representations were made under the amparo (D.A. 539/2022) filed by the plaintiffs before such Court. On April 18, 2024, a resolution was issued by the Third Administrative Joint Court of the First Circuit modifying the appealed judgment, granting the amparo to EMS Energy Services de México, S. de R.L. de C.V. On July 10, 2024, the

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 126 of 128 Superior Court ordered Pemex Exploration and Production to (i) pay U.S.$27,244 plus VAT; (ii) pay damages; (iii) refund the penalties applied for an amount of U.S.$4,143 plus VAT; (iv) refund the standby letter of credit for U.S.$13,975 and (v) payof financial expenses. On August 27, 2024, the tax review was filed. An amparo was filed directly against the compliance with the judgment issued on July 10, 2024, and was admitted under the case D.A. 497/2024, by the Third Administrative Joint Court of the First Circuit. As of the date of these condensed consolidated interim financial statements, a final resolution is still pending. • Micro Smart Systems de México, S. de R.L. de C.V. (MSSM) filed before the Sala Regional del Golfo Norte (Regional Court of the North Gulf) of the Tax and Administrative Federal Court (574/22-18-01-8) challenging a settlement statement dated February 17, 2022 related to a works contract number No. 424049831 issued by Pemex Exploration and Production and seeking U.S.$240,488. On April 5, 2022, the claim was admitted which was notified on May 17, 2022. On July 4, 2022, Pemex Exploration and Production filed a response to this claim, requesting Pemex Exploration and Production evidence, which was filed on August 8, 2022, and admitted by the Regional Court of the North Gulf on August 17, 2022. On September 2, 2022, this Regional Court confirmed the rejection of the evidence filed by the plaintiffs. On September 29, 2022, the First Section of the Superior Court denied a compliant motion filed by MSSM against the settlement statement dated February 17, 2022. On October 3, 2022, it was agreed that the plaintiff would be heard, making various statements in relation to the defense of the claim. On October 7, 2022 a resolution was issued regarding the complaint filed by the plaintiff confirming the resolution issued on August 28, 2018. On November 14, 2022, the First Section of the Superior Court agreed to an amparo proceeding (1833/2022) against acts issued by the Juzgado Octavo de Distrito en Materia Administrativa (Eighth Administrative District Court), in Mexico City and required such authority to render the justified report. On May 17, 2023, the Regional Court of the North Gulf, summoned the parties to file its rejoinders, which were filed by Pemex Exploration and Production on June 14, 2023. On June 22, 2023, the Regional Court ordered the file to be sent to the First Section of the Superior Court. On September 19, 2023, the Northern Gulf Regional Court sent by certified mail the file to the First Section of the Superior Court for a final resolution. On November 14, 2023, the Superior Court published a resolution requiring the Northern Gulf Regional Court to send all the documents that integrate the evidentiary file offered in the trial. On December 12, 2023, an extract of a clarification agreement concerning the referral of evidence to the Superior Court was notified in the jurisdictional gazette. On June 14, 2024, the Superior Court issued a resolution, (574/22- 18-01-8/1549/23-PL-09-04), informing the designation of the delegates by Micro Smart Systems de México S. de R.L. de C.V. On September 9, 2024, the trial was suspended until the determination of compliance with the resolution of the First Section of the Superior Chamber issued within the trial 752/17-18-01-7/1625/19-S1-05-04 becomes final. On February 17, 2025, the Eighth District Court in Administrative Matters of the First Circuit denied the amparo filed by Micro Smart Systems de México S. de R.L. de C.V. (case 1560/2024-VIII) against a September 10, 2024 resolution of the First Section of the Superior Chamber of the Federal Court of Administrative Justice (Tribunal Federal de Justicia Administrativa). In that resolution, the TFJA had found that its prior judgment was complied with because the contested settlement was annulled and replaced with a new one reflecting the effects ordered in the nullity judgment. On March 11, 2025, Micro Smart Systems appealed the denial of the amparo. On April 3, 2025, the First Section of the Superior Chamber of the Federal Court of Administrative Justice decided to wait for the outcome of the amparo case before lifting a suspension issued on September 4, 2024, and before issuing its final ruling. On April 21, 2025, the Twenty-Fourth Administrative Joint Court of the First Circuit admitted an ancillary appeal for review filed by Pemex Exploration and Production. On June 25, 2025, through a resolution issued within the amparo review proceeding R.A. 519/2025, the Third Joint Administrative Court of the First Circuit determined, due to court assignment and considering that it had previously taken cognizance of the amparo review R.A. 153/2023 — which derived from the nullity trial 752/17-18-01-7/1625/19-S1-05-04 — to assume jurisdiction over the matter. As of the date of these condensed consolidated interim financial statements, the final resolution of this process is pending. • Constructora Norberto Odebrecht, S.A de C.V. filed an administrative claim against Pemex Industrial Transformation (file No. 4742/19-17-01-7) seeking U.S.$113,582 and Ps.14,607 in connection with a termination resolution (no. 1,757) dated January 14, 2019, and issued by Pemex Industrial Transformation, which awarded U.S.$51,454 in favor of Pemex Industrial Transformation. The claim was admitted. On November 11, 2020, Pemex Industrial Transformation filed a response to this

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 127 of 128 claim. The accounting expert filed his opinion. On June 2, 2022 an opinion by the accounting expert appointed by Pemex Industrial Transformation was filed. A third accounting expert was appointed, who did not ratify his position; therefore, a resolution dated October 2, 2023 was issued requesting the Expert Unit to appoint another expert. On February 2, 2024, the independent accounting expert accepted his assignment and was awarded 15 days to render his report. On March 19, 2024, the Superior Court decided to exercise its power of attraction. On May 2, 2024, the Superior Court issued a resolution requesting the Expert Unit to appoint another expert, since the previously appointed expert did not ratify the report. On August 2, 2024, a resolution was issued, granting the independent expert a term to render the report and ratify it. On February 28, 2025, the investigation was declared concluded, and the records were sent to the Pleno de la Sala Superior (Plenary of the Superior Chamber) for the issuance of the judgment. On May 15, 2025, through a resolution issued by the Superior Chamber, acknowledgment of receipt of the original case files was recorded, and the case remains under analysis by the Superior Chamber. As of the date of these condensed consolidated interim financial statements, a final resolution is still pending. • On November 24, 2021, Pemex Industrial Transformation filed a repeal request (no. RRL2021014568) seeking that the resolutions dated October 7, 2021, issued by the Hydrocarbons Verification Manager of the Tax Administration Service be declared null and void. These resolutions established charges for Special Taxes on Production and Services, Value Added Taxes, fines among other for an amount of Ps. 3,084,975. As of the date of these condensed consolidated interim financial statements, a final resolution is still pending. • On September 9, 2022, Pemex Industrial Transformation filed a repeal request against a tax credit for the 2016 fiscal year related to the Special Tax on Production and Services and Value Added Tax for an amount of Ps.5,852,222, seeking that this resolution is declared null and void. As of the date of these condensed consolidated interim financial statements, a final resolution is still pending. • On September 22, 2023, Pemex Industrial Transformation filed a repeal request against a tax credit for the 2017 fiscal year related to the Special Tax on Production and Services and Value Added Tax, updates, fines and surcharges for the months of January to December 2017 for an amount of Ps.8,349,608, seeking that this resolution be declared null and void. As of the date of these condensed consolidated interim financial statements, a final resolution is still pending. • On March 7, 2025, Pemex Logistics and PMI SP, filed a response to the Request for Arbitration submitted by MONTERRA ENERGY, S. DE R.L. DE C.V., identified with the number CCI 29125/PDP, stemming from an alleged breach of contract, regarding various conditions precedent, including capital contributions and the purchase and sale of shares to acquire a Hydrocarbon Storage Terminal in Tuxpan Veracruz, for an amount of Ps.6,010,259. The deadline granted by the Court Secretariat for the nominated Co-Arbitrators to appoint the president of the arbitral tribunal on or before March 26, 2025, is currently running. The drafting of the Terms of Reference and the holding of the Conference on the Conduct of Proceedings are pending. On July 25, 2025, the Conference on the Conduct of Proceedings took place, during which the parties, by mutual agreement, determined the mechanism for managing the arbitration and agreed to prepare the procedural calendar and the Terms of Reference, in which the parties' preliminary positions would be recorded. At the parties' request, the Arbitral Tribunal, by Procedural Order No. 2 dated September 16, 2025, ordered a suspension of the proceedings until November 12 of the same year. As of the date of these condensed consolidated interim financial statements, the final resolution of this process is pending. • On June 17, 2025, COMPAÑÍA MINERA SAN ALEJANDRO, S.A. de C.V. filed a civil lawsuit against Petróleos Mexicanos seeking indemnification related to the alleged breach of Preparatory Contract PM-2019-004. The ordinary civil action, docketed as case 2065/2025, was filed before the Fourteenth District Court for Civil Matters in Mexico City. The plaintiff also claimed damages in the amount of Ps.7,316,929 for equipment maintenance costs, as well as other resources and expenses incurred during the contractual period, and an additional Ps.2,353,719 for loss of fair profit. On June 20, 2025, PEMEX submitted its response to the claim, denying liability and raising exceptions and defenses. On June 24, 2025, following a hearing with the opposing party, the claim was deemed answered. On July 1, 2025, the Court admitted for processing the objection regarding the impropriety of the procedural route, which remains pending resolution. As of the date of these condensed consolidated interim financial statements, the final resolution of this action is pending.

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PEMEX Consolidated Ticker: PEMEX Quarter: 3 Year: 2025 128 of 128 The results of these proceedings are uncertain until their final resolutions are issued by the appropriate authorities. PEMEX has recorded liabilities for loss contingencies when it is probable that a liability has been incurred and the amount thereof can be reasonably estimated. When a reasonable estimation could not be made, qualitative disclosure was provided in the notes to these condensed consolidated interim financial statements. PEMEX does not disclose amounts accrued for each individual claim because such disclosure could adversely affect PEMEX's legal strategy, as well as the outcome of the related litigation. NOTE 19. SUBSEQUENT EVENTS A. Recent financing activities During the period from October 1 to October 17, 2025, PEMEX did not carried out financing activities. As of September 30, 2025, the outstanding amount under the PMI Trading revolving credit line was U.S.$206,314. Between October 1 to October 17, 2025, PMI Trading obtained and repaid U.S.$60,000 from its revolving credit line. As of October 17, 2025, the outstanding amount under this revolving credit line was U.S.$206,314. The available amount under this revolving credit lines was U.S.$23,686 as of October 17, 2025. As of October 17, 2025, PEMEX had U.S.$5,738,000 and Ps.20,500,000 in available credit lines in order to provide liquidity, of which the entire peso-denominated line and U.S.$4,238,000 credit line are available. B. Exchange rates and crude oil prices As of October 17, 2025, the Mexican peso-U.S. dollar exchange rate was Ps. 18.4808 per U.S. dollar, which represents a 0.5% depreciation of the value of the peso in U.S. dollar terms as compared to the exchange rate as of September 30, 2025, which was Ps. 18.3825 per U.S. dollar. This decrease in U.S. dollar exchange rate, has led to an estimated loss of Ps.8,850,454 in PEMEX's foreign exchange gains as of October 17, 2025. As of October 17, 2025, the weighted average price of the crude oil exported by PEMEX was U.S.$54.56 per barrel. This represents a price decrease of approximately 10.8% as compared to the average price as of September 30, 2025, which was U.S.$61.16 per barrel. Dividends paid, ordinary shares: 0 Dividends paid, other shares: 0 Dividends paid, ordinary shares per share: 0 Dividends paid, other shares per share: 0

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