Statement by Corporacion Moctezuma

Recently our Board of Directors announced the appointment to Chief Executive Officer of Ing. José María Barroso Ramírez, who will start with his new responsibilities on March 1, 2018.

Ing. José María Barroso is a graduate of the Instituto Tecnologico de Merida, Yucatan, and he has a Master’s degree in International Trade, granted by the same Institution. He has a professional experience of over 30 years in the cement sector, having had several positions on a national and international level in Cemex.

In 2010 Ing. José María Barroso joined Corporacion Moctezuma® with the position of Sales Director, from which position he has contributed effectively to the growth and development of the Company regarding the Mexican cement market.

Also, the incorporation to the company of Lic. Luis Rauch as Financial Director, also from March 1, 2018 was announced. Mr. Rauch has a Bachelor's degree in Business Administration granted by the Justus Von Liebig Universitry from Giessen, Germany.

Lic. Luis Rauch has a board experience as Financial Director of different industrial companies, he was Financial and Treasure Director in the cement group Dyckerhoff for 12 years.

Finally, our Board of Directors of the Company would especially like to thank Mr. Fabrizio Donegá for his professionalism and quality management during his time as Chief Executive Officer; and wished the greatest success to Ing. José María Barroso and Lic. Luis Rauch in the new positions they have been given.