GaxiolaCalvo

Notice of Privacy

GaxiolaCalvo — SC
Av. Gabriel Mancera 1021- A, Col. Del Valle
Benito Juárez, 03100, Mexico City, Mexico

Gaxiola Calvo, S.C. (the “Firm”) (formerly Gaxiola, Calvo Sobrino y Asociados, SC, between 2011 and 2015), is committed to providing certainty and security to its clients and potential clients regarding the confidentiality with which their personal information will be treated as well as the information derived from and related to their affairs.

Personal Data and Form of Collection
The Firm provides its services mainly to legal entities and/or as Representative of our clients; however, in some cases, either as a client or for other reasons, we collect data from individuals.

The data will be collected by the Partners or the Firm's staff, directly from you or, as necessary, from documents of any nature that are delivered to us.

The personal data that will be collected will be determined, in each case, according to the services provided to the client and may include, among others, name and contact information (including address, telephone numbers, personal email, among others); family information and patrimonial data, such as information on movable and immovable property, banking information and income, as well as any other information required by the applicable regulations.

The Firm will not collect sensitive personal data, except when they are essential to provide the services. In this case, the Firm will only keep the data for as long as it is necessary to provide the service and/or for the time required in accordance with applicable laws.

The data of individuals who provide their services for a legal entity consisting of their name and surname, the functions or positions held, as well as the following work data (address, email, telephone and fax number) that are processed for representation purposes of the employer or contractor, are excluded from the scope of this Privacy Notice, in accordance with the provisions of the Regulations of the Federal Law on Protection of Personal Data Held by Individuals.

Purposes and Transfer of Personal Data
In those cases in which we collect personal data, through this or any other means, these will be used for the development of legal consultations and the provision of legal services by the Firm, research and market analysis, for the sending of information of issues relevant to the services provided, as well as to comply with legal requirements that, where appropriate, are applicable.

The Firm will not transmit your personal data to third parties except as necessary to comply with the services you have requested from the Firm, when we have your prior consent or instructions from your clients or potential clients or in the cases established and in accordance with the applicable regulations. Also, you can be confident that your personal data will be processed exclusively by those people who carry out activities that require knowledge of said data.

In order to prevent unauthorized access to your personal data and in order to ensure that the information is used for the purposes established in this Privacy Notice, we have established physical, electronic and administrative procedures, which limit the use or disclosure of your data, allowing us to treat them properly.

Secondary purposes
Your basic contact details (name, address, email, telephone and fax) may be processed by the Firm for marketing, advertising or commercial prospecting purposes, for academic analysis and research and to send you information of interest or our newsletter.

Request for Access, Rectification, Cancellation or Opposition of Personal Data and Revocation of Consent.
You have at all times the right to access, rectify, cancel or oppose the treatment that we give to your personal data (the "ARCO Rights"), as well as to revoke the consent granted for the treatment thereof; you may enforce this right through the Firm’s Special Unit for Personal Data Protection, whose details appear below. It is important to mention that although the exercise of your ARCO Rights is free, the Firm may request the payment of justified shipping costs, among others.

In order to protect your personal data, we may ask you for documentation proving your personality as well as supporting your request to rectify, oppose and/or cancel personal data. We also ask you to consider that the Firm may not be able to cancel or block all of your personal data in accordance with the applicable laws, including legal or regulatory provisions on employment matters.

Revocation of Consent
If you do not want us to process your personal data for any of the secondary purposes indicated in this Privacy Notice, you can tell us by email, and you should receive a response to your request. Where appropriate, we will inform such revocation to third parties that may have access to your data.

Limitation of the use
In order to limit the use of your personal data, you may request, through the Special Unit for Personal Data Protection, the inclusion of your data within the Firm's exclusion lists, in which case the Firm will provide you with a certificate. Your inclusion in such list will be free.

Modifications
This privacy notice may be modified from time to time by the Firm. Said modifications will be duly informed through our website www.gaxiolacalvo.com.mx, or any other means of oral, printed or electronic communication that the Firm determines for that purpose.

For any questions or clarification, as well as for the exercise of your ARCO Rights, please contact Martha Robles, from the Special Unit for Personal Data Protection. Telephone: 56826178. Hours: 09:00 to 14:00. Email: mrobles@gcsa.com.mx.

Last updated March 20, 2019.

Privacy Notice for candidates, employees and partners

GaxiolaCalvo — SC
Av. Gabriel Mancera 1021- A, Col. Del Valle
Benito Juárez, 03100, Mexico City, Mexico

Gaxiola Calvo, S.C. (the “Firm”) (formerly Gaxiola, Calvo Sobrino y Asociados, SC, between 2011 and 2015), is committed to providing certainty and security to its clients, potential clients, employee candidates, employees and partners regarding the confidentiality with which their personal information will be treated.

Personal Data and Form of Collection
The data will be collected by the Partners or the Firm's staff, directly from you or, as necessary, from documents of any nature that are delivered to us.

The personal data that will be collected shall include name and contact information (including address, telephone numbers, personal email, among others); family information and patrimonial data, such as information on movable and immovable property, banking information and income, data about your work, credit or criminal history, as the case may be, as well as any other information required by the applicable regulations.

The Firm will collect the following sensitive personal data, as necessary: biometric data for access and security records of the firm; medical data in order to address medical emergencies that occur in the workplace; data about your religion, in case you decide to share them, for the purpose of providing assistance and/or special conditions that said religion requires. In this case, the Firm will only keep the data for as long as it is necessary to provide the service and/or for the time required in accordance with applicable laws.

Purposes and Transfer of Personal Data
In the case of employees, the personal data you provide us will be used for all purposes related to training, development, payment of employment benefits, employment relationship and compliance with tax obligations. In the case of candidates, the personal data that you provide us directly or through a third party when sending your curriculum vitae will be used to contact you in the event that your profile is of interest to the firm and, where appropriate, to initiate the selection and recruitment process.

The Firm will not transmit your personal data to third parties except when it is necessary to comply with the aforementioned purposes as well as to provide benefits, such as medical insurance, among others, or in the cases provided by and in accordance with the applicable regulations.

In order to prevent unauthorized access to your personal data and in order to ensure that the information is used for the purposes established in this Privacy Notice, we have established physical, electronic and administrative procedures, which limit the use or disclosure of your data, allowing us to treat them properly.

Secondary purposes
Your basic contact details (name, address, email, telephone and fax) may be processed by the Firm for marketing, advertising or commercial prospecting purposes, for academic analysis and research and to send you information of interest or our newsletter.

Request for Access, Rectification, Cancellation or Opposition of Personal Data and Revocation of Consent
You have at all times the right to access, rectify, cancel or oppose the treatment that we give to your personal data (the "ARCO Rights"), as well as to revoke the consent granted for the treatment thereof; you may enforce this right through the Firm’s Special Unit for Personal Data Protection, whose details appear below. It is important to mention that although the exercise of your ARCO Rights is free, the Firm may request the payment of justified shipping costs, among others.

In order to protect your personal data, we may ask you for documentation proving your personality as well as supporting your request to rectify, oppose and/or cancel personal data. We also ask you to consider that the Firm may not be able to cancel or block all of your personal data in accordance with the applicable laws, including legal or regulatory provisions on employment matters.

Revocation of Consent
If you do not want us to process your personal data for any of the secondary purposes indicated in this Privacy Notice, you can tell us by email, and you should receive a response to your request. Where appropriate, we will inform such revocation to third parties that may have access to your data.

Limitation on Use
In order to limit the use of your personal data, you may request, through the Special Unit for Personal Data Protection, the inclusion of your data within the Firm's exclusion lists, in which case the Firm will provide you with a certificate. Your inclusion in such list will be free.

Modifications
This privacy notice may be modified from time to time by the Firm. Said modifications will be duly informed through our website www.gaxiolacalvo.com.mx, or any other means of oral, printed or electronic communication that the Firm determines for that purpose.

For any questions or clarification, as well as for the exercise of your ARCO Rights, please contact Martha Robles, from the Special Unit for Personal Data Protection. Telephone: 56826178. Hours: 09:00 to 14:00. Email: mrobles@gcsa.com.mx.

Last updated March 20, 2019.

Areas of expertise

GaxiolaCalvo — SC focuses on regulatory and financial banking, project financing, consulting and regulations, credit restructuring, electronic means and Fintech and subnational debt; the firm also provides advice on constitutional, administrative, securities, corporate, antitrust and energy law and offers aid to specialists in employment law, litigation and criminal matters.

Regulatory and financial banking

Regulatory and financial banking

The firm acts as an advisor to financial entities in regulatory matters, including mergers and acquisitions, corporate governance, internal control, communication with authorities, regulatory compliance, transparency, financial products and prevention of money laundering.

Additionally, for the last 25 years we have acted as structuring lawyers and/or main advisors in union financial operations (such as the exchange of IPAB promissory notes or recent subnational debt operations and restructurings), syndicated and individual in representation of financial, commercial and public entities.

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Project Financing

Project Financing

We have actively participated for over 20 years in the development of federal and state highways and bridges; we are one of the most recognized firms in the sector.

Our experience encompasses major projects for public transportation systems (Metro, Metrobús, Cable Cars), urban mobility infrastructure, real estate projects (housing, administrative offices and shopping centers), water treatment plants, lighting fixtures and electric power.

We have acted as advisors to developers, concessionaires, builders, banks, investors, rating agencies, common representatives and government authorities.

We participate in all phases of project development, from the design, authorization, bidding and allocation, to the hiring, financing, construction, securitization, restructuring and rebalancing.

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Consulting

Consulting

We are advisers to the Mexican Association of Banks, Amafore and to several of the most important financial groups and credit institutions in Mexico. We have also worked with the Business Coordinating Council and other trade associations on important issues.

In terms of consulting the firm has positioned itself as a center for research, analysis and issuance of studies on complex legal issues, either as main advisor or in coordination with specialists in specific matters, for the benefit of commercial national and foreign clients and federal and local public clients.

In recent decades, the firm has participated in several of the most relevant legal reforms in the financial sector, including the Financial Reform, as representatives of the banking sector, in drafting the latest reform to the Law on Retirement Savings Systems and advising banks on the reform of their pension programs. It has also represented various sectors, including the government, in reforms and reform projects of national importance, such as popular consultation, indigenous consultation, antitrust matters, criminal law reforms and commercial legislation, among others.

In recent years, the firm participated in the drafting of the latest reform to the Retirement Savings Systems Law and has also participated advising banks on the reform of their pension programs and the implementation of the labor reform regarding outsourcing.

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Credit Restructuring

Credit Restructuring

We support banking institutions in their credit recovery processes, providing advice in negotiations with debtors and implementing the resulting restructuring, with all kinds of guarantees.

We have experience in both bilateral and syndicated operations, as well as in restructurings that include the participation of bondholders in Mexico and abroad.

We have acted as local lawyers for the implementation of the Mexican guarantee package in important international restructurings.

Our experience in this sector includes advising the set of creditor banks of companies and business groups declared in commercial bankruptcy in some emblematic or particularly complex cases, as well as the design and implementation of distribution, monetization and sale of recovered assets schemes.

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Electronic Means, Payment Systems, Fintech

Electronic Means, Payment Systems, Fintech

The firm works with financial entities and commercial companies, both national and foreign, advising them on offering products and conducting operations through electronic means and on the use of electronic signatures.

We participated, on behalf of the banking sector, in the negotiation of the “Fintech Law” and, since then, we have accompanied the sector in the discussions and negotiations of all secondary regulations, including those related to standardized computer application programming interfaces.

Additionally, the firm constantly participates accompanying financial entities in the process of hiring specialized technological services from the financial sector.

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Subnational Debt

Subnational Debt

We have extensive experience in processes of state and municipal public debt operations, short and long term, including bank loans and stock market issuances. We have implemented not only individual financing, but also the global restructuring of some of the largest and most complex state public debts that have existed in Mexico.

Our participation in this sector includes the design, risk analysis or instrumentation of structured financing with a source of payment in specific state revenues (FEIEF, FAFEF, ISN, road flows, etc.) and other financing schemes different from the traditional ones.

We have acted as advisors to individual and union banks (ABM), state governments, trust institutions and rating agencies.

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