OHL México’s response to the CNBV

Last 25 November, OHL México replied in due time and form to the administrative proceedings filed by the National Banking and Securities Commission (CNBV).

As anticipated at the time, the company has now formally manifested its disagreement with the allegations made in the administrative proceedings and has provided all the necessary information to back up its position, within the timeframes and following the procedure foreseen in applicable law.

The company believes that its writs of reply are duly supported by information provided by each one of the companies notified, and are endorsed by the opinions of external law and auditing firms of renowned prestige, both nationally and internationally.

In this regard, due to recent publications of flyers or adverts, in some of the media, on OHL México’s accounts, which deliberately distorted the facts, the company informed its investor public that, as indicated and documented in its writ of reply to the CNBV, OHL México’s accounting policy applied in concessions with secured return is based on a financial asset, pursuant to IFRS, and this has been confirmed by the world’s four largest auditing firms (Deloitte, PwC, EY and KPMG), in various opinions, provided to the CNBV along with supporting legal opinions issued by three top-rank lawfirms (Mijares Angoitia, Garrigues and Jones Day).

Furthermore, in relation to these published flyers, OHL México would like to make it clear that, at present, the proceedings filed by the CNBV are ongoing and that after the company has provided its arguments, opinions and supporting documentation, the CNBV will deliver its resolution, which the company trusts will be favorable in light of the arguments, opinions and supporting documentation provided.

OHL México would like to reiterate its commitment to strict compliance with the law, in abidance with international accounting standards, and completely trusts the Mexican authorities.

OHL México office at Reforma 222, Mexico City.