Preliminary Results

Third Quarter 2012

October 30, 2012

Forward-Looking Statement and

Cautionary Note (1/2)

1

Variations

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

Rounding

Numbers may not total due to rounding.

Financial information

Excluding 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 by the International Accounting

Standards Board (“IFRS”), which PEMEX has adopted effective January 1, 2012. Information from prior periods has been retrospectively adjusted in certain

accounts to make it comparable with the unaudited consolidated financial information under IFRS. For more information regarding the adoption of IFRS,

see Note 20 to the consolidated financial statements included in Petróleos Mexicanos’ 2011 Form 20-F filed with the SEC on April 30, 2012. Adjusted

EBITDA is a non-IFRS measure. We show a reconciliation of Adjusted EBITDA to net income in Table [34] of the annexes to this report. EBITDA is a non-

U.S. GAAP and non-FRS measure issued by the CINIF.

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

companies of Petróleos Mexicanos.

Foreign exchange conversions

Convenience translations into U.S. dollars of amounts in Mexican pesos have been made at the established exchange rate, as of September 30, 2012, of Ps.

12.8521= U.S.$1.00. Such translations should not be construed as a representation that the peso amounts have been or could be converted into U.S. dollars

at the foregoing or any other rate.

Fiscal regime

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

Duties Law, while the tax regimes of the other Subsidiary Entities continue to be governed by Mexico’s Income Tax Law. The most important duty paid by

PEP is the Ordinary Hydrocarbons Duty (OHD), the tax base of which is a quasi operating profit. In addition to the payment of the OHD, PEP is required to

pay other duties.

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

Income Law. PEMEX is an intermediary between the Secretary of Finance and Public Credit (SHCP) and the final consumer; PEMEX retains the amount of

IEPS and transfers it to the Federal Government. The IEPS rate is calculated as the difference between the retail or “final price”, and the “producer

price”. The final prices of gasoline and diesel are established by the SHCP. PEMEX’s producer price is calculated in reference to that of an efficient

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

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

Hydrocarbon reserves

Pursuant to Article 10 of the Regulatory Law to Article 27 of the Political Constitution of the United Mexican States Concerning Petroleum Affairs, (i)

PEMEX's reports evaluating hydrocarbon reserves shall be approved by the National Hydrocarbons Commission (NHC); and (ii) the Secretary of Energy will

register and disclose Mexico's hydrocarbon reserves based on information provided by the NHC. As of the date of this report, this process is ongoing.

Forward-Looking Statement and

Cautionary Note (2/2)

2

Hydrocarbon reserves

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

also probable reserves and possible reserves. In addition, we do not necessarily mean that the probable or possible reserves described herein meet the

recoverability thresholds established by the SEC in its new definitions. Investors are urged to consider closely the disclosure in our Form 20-F and our

annual report to the Mexican Banking and Securities Commission, available at http://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:

– Drilling and other exploration activities;

– Import and export activities;

– Projected and targeted capital expenditures; costs; commitments; revenues; liquidity, etc.

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

control. These factors include, but are not limited to:

– Changes in international crude oil and natural gas prices;

– Effects on us from competition;

– Limitations on our access to sources of financing on competitive terms;

– Significant economic or political developments in Mexico;

– Developments affecting the energy sector; and

– Changes in our regulatory environment.

Accordingly, you should not place undue reliance on these forward-looking statements. In any event, these statements speak only as of their dates, and we

undertake no obligation to update or revise any of them, whether as a result of new information, future events or otherwise. These risks and uncertainties

are more fully detailed in PEMEX’s most recent Form 20-F filing with the SEC (www.sec.gov), and the PEMEX prospectus filed with the CNBV and available

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

forward-looking statement.

PEMEX

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

entities are Pemex-Exploration and Production, Pemex-Refining, Pemex-Gas and Basic Petrochemicals and Pemex-Petrochemicals. The principal subsidiary

company is PMI.

Content

3

Highlights

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Financial Results

Questions and Answers

Highlights 3Q12

4

Total revenues amounted to Ps. 408.9 billion.

Total hydrocarbons production reached 3,678 Mboed.

Crude oil production averaged 2,541 Mbd.

Taxes generated during the period amounted to Ps. 223.4 billion.

PEMEX recorded an EBITDA of Ps. 282.8 billion.

During the third quarter of 2012 PEMEX recorded a net income of Ps. 23.9 billion. At

the same time, during the first nine months of 2012 net income amounted to Ps.

31.9 billion.

Context 3Q12

5

70

80

90

100

110

120

130

7/11 9/11 11/11 1/12 3/12 5/12 7/12 9/12

Prices of Crude Oil US$/barrel

Avg3Q12

99.8 US$/b

Mexican

Mix

Brent

Avg3Q11:

101.1 US$/b

2.00

2.20

2.40

2.60

2.80

3.00

3.20

3.40

7/11 9/11 11/11 1/12 3/12 5/12 7/12 9/12

Prices of Reg Gasoline in the USGM US$/Gal

Avg3Q11:

2.83 US$/Gal

Avg3Q12:

2.91 US$/Gal

1.00

1.50

2.00

2.50

3.00

3.50

4.00

4.50

5.00

7/11 9/11 11/11 1/12 3/12 5/12 7/12 9/12

Prices of Natural Gas US$/MMBtu

Avg 3Q11:

4.13 US$/MMBtu

Avg 3Q12:

2.87 US$/MMBtu

11.00

11.50

12.00

12.50

13.00

13.50

14.00

14.50

7/11 9/11 11/11 1/12 3/12 5/12 7/12 9/12

Exchange Rate Ps./US$

Avg:12.28

Beg:11.84

End:13.42 Beg:13.65

End:12.85

Avg:13.18

Content

6

Highlights

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Financial Results

Questions and Answers

Crude Oil Production

7

• During the third quarter

of 2012, crude oil

production recorded a

stable trend.

Mbd

57% 56% 54% 55% 55%

30% 31% 33% 33% 32%

13% 13% 13% 12% 13%

2,525 2,547 2,537 2,540 2,541

3Q11 4Q11 1Q12 2Q12 3Q12

Heavy Light Extra-light

75%

25%

Offshore Onshore

-

300

600

900

1,200

1,500

1,800

2,100

2,400

2,700

1/2012 2/2012 3/2012 4/2012 5/2012 6/2012 7/2012 8/2012 9/2012

Daily Production

Heavy Light Extra light

Natural Gas Production

8

(1) Does not include nitrogen.

• Natural gas use was

greater than 98%

35%

65%

Offshore Onshore

63% 63% 64% 64% 66%

37% 37% 36% 36% 34%

5,838 5,717 5,742 5,675 5,626

3Q11 4Q11 1Q12 2Q12 3Q12

Natural Gas Production1

MMcfd

Associated Non-Associated

257 169 137 112 97

4.4%

3.0%

2.4% 2.0%

1.7%

3Q11 4Q11 1Q12 2Q12 3Q12

Gas Flaring MMcfd

Gas Flaring (MMcfd)

Gas Flaring / Total GasProduced

Operational Infrastructure

9 9

• The completion of

development and

explorations wells

was greater during

the third quarter of

2012.

9%

91%

Offshore Onshore

5,226 5,427 5,652 5,862 6,106

3,179 3,180 3,422 3,466 3,547

8,405 8,606 9,074 9,328 9,653

3Q11 4Q11 1Q12 2Q12 3Q12

Wells Average

Crude oil Non-Associated Gas

125 121 107 115 110

18 20 17 17 19

143 142 125 131 130

3Q11 4Q11 1Q12 2Q12 3Q12

Drilling Equipment Average

Development Exploration

249 286 264

289 319

4

7 3

8

11

3Q11 4Q11 1Q12 2Q12 3Q12

Completion of Wells

Development Exploration

28%

72%

Exploration

Offshore Onshore

21%

79%

Development

Offshore Onshore

10

Tsimin: Southeastern Basin

Producing Basins

Oil and Gas

Gas Southeastern

Basin

Veracruz

Tampico-

Misantla

Burgos Sabinas

Gulf of México

• Tsimin is located near the

Tabasco shores, at

approximately 11 km north of

the shore and 87 km

northwest of Ciudad del

Carmen, Campeche.

• Tsimin was discovered in 2008

and began production in

August 3, 2012. This field

contributed with 7.4 Mbd of

oil and 34.1 MMcfd of gas

during September 2012.

• The Tsimin field has

incorporated a total of 1,157

Mmboe of 3P reserves.

• Its production is expected to

peak by 2017 at approximately

125 Mbd of crude oil and 678

MMcfd of gas.

11

E&P Integrated Contracts

On August 28, 2012, PEMEX awarded

the Arenque contract area located in

the North Region, under the 2nd round

of Exploration and Production

Integrated Contracts scheme.

Field Company

Offered

Rate

US$/b

Min.

Investment

US$MM

Arenque

Petrofac

Facilities

Mngt. Ltd.

7.9 50

Arenque Chicontepec

Area Land Accumulated

Production

3P

Reserves

Prospective

Resources

Type of

Hydrocarbon

(km2) (Mboe) (MMboe) (MMboe) °API

Pitepec 128 94 648 74 32 - 38

Soledad 125 40,376 134 128 32 – 37

Amatitlán 128 103 403 74 44

Miquetla 112 11,084 248 86 35

Humapa 128 588 341 157 27

Miahuapan 128 43 431 101 33

Exploration 3Q12

12

Main Discoveries 3Q12

Project Well Geologic Age

Initial Production

Type of

Hydrocarbon

Oil & Condensates

(bd)

Gas

(MMcfd)

Burgos

Arbolero 1 Pimienta Late Jurassic 0 3.185 Dry Gas

Cuervito 201A Queen City Eocene 48 1.44 Wet Gas

Forcado 1 Queen City Eocene 0 4.091 Wet Gas

Mandarin 1 Yegua Eocene 19 2.34 Wet Gas

Organdi 1 Vicksburg Early Oligocene 26 1.911 Wet Gas

Bellota-Jujo Jolote 101 Mid-Early Cretacic 1,042 1.68 Light Crude Oil

Macuspana-Muspac Sunuapa Late Cretacic 1,397 1.771 Light Crude Oil

Burgos Bellota-Jujo Macuspana-Muspac

Exploration 3Q12

13

Exploration in Deep Waters

The Trion-1 and Supremus-1

wells have increased certainty

towards the recovery of

prospective resources in the

Perdido Area project, which

have been estimated at up to

13 billion barrels of oil

equivalent.

Content

14

Highlights

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Financial Results

Questions and Answers

406 427

309 283

274 306

211 208 57 57 65 86 1,323

1,343 1,391

1,367

1H11 1Q12 2Q12 1H12

Production of Petroleum Products Mt

Other

Jet Fuel

LPG

Diesel

Fuel oil

Automotive gasolines

Crude Oil Processing

15

(1) Includes paraffins, furfural extract, aeroflex, asphalt, lubricants, coke, cyclical light oil and other gasolines.

722 731 677 696 699

436 448 517 556 469

1,304 1,315 1,343 1,391 1,304

3Q11 4Q11 1Q12 2Q12 3Q12

Crude Oil Processing Mbd

Heavy Crude

Light Crude

Petroleum products production

389 401 421 433 404

307 305 274 291 272

276 271 301 312 291

210 205 205 211 208

56 55 58 56 56

66 79 84 88 75

1,304 1,315 1,343 1,391 1,304

3Q11 4Q11 1Q12 2Q12 3Q12

Production of Petroleum Products Mbd

Other

Jet Fuel

LPG

Diesel

Fuel oil

Automotive gasolines

1

Natural Gas Processing, Dry Natural Gas and

Gas Liquids Production

16

(1) Includes condensate process.

3,417 3,397 3,464 3,451 3,384

1,097 1,115 1,083 1,056 960

4,514 4,512 4,547 4,507 4,344

3Q11 4Q11 1Q12 2Q12 3Q12

Processing MMcfd

Sweet Wet Gas

Sour Wet Gas

3,689 3,697 3,732 3,711

3,579

386

372 374

382

373

360

375

390

405

420

3,200

3,400

3,600

3,800

3Q11 4Q11 1Q12 2Q12 3Q12

Mbd

MM

cfd

Production MMcfd

Dry Gas from Plants(MMcfd)

Natural Gas Liquids(Mbd) 1

Production of Petrochemicals

17

(1) Includes muriatic acid, butadiene, polyethylene wax, petrochemical specialities, BTX liquids, hydrogen, isohexane, pyrolysis liquids,

oxygen, CPDI, sulfur, isopropyl alcohol, amorphous gasoline, octane basis gasoline and heavy naphtha.

Mt

129 138 131 45 9

334 306 353

346 345

249 300 355

363 312

128 133 10

1 16

96 88 129

112 116

375 371 291

304 282

1,311 1,336 1,269

1,171

1,080

3Q11 4Q11 1Q12 2Q12 3Q12

Other

Propylene and Derivatives

Aromatics and Derivatives

Ethane Derivatives

Methane Derivatives

Basic

1

Content

18

Highlights

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Financial Results

Questions and Answers

3Q12 Financial Highlights

19

(1) Excludes IEPS.

(2) Earnings before interests, taxes, depreciation and amortization.

2011 2012

Variation

2011 2012

Billion

Pesos

Billion

Dollars

Total Revenues from Sales

and Services1 392.1 408.9 4.3% 30.5 31.8

Gross Income 181.6 205.6 13.2% 14.1 16.0

Operating Income 200.8 221.3 10.2% 15.6 17.2

Income before Taxes and

Duties 131.2 247.3 88.5% 10.2 19.2

Taxes and Duties 212.8 223.4 5.0% 16.6 17.4

Net Income (loss) (81.5) 23.9 (6.3) 1.9

EBITDA2 253.2 282.8 11.7% 19.7 22.0

As of September 30 As of September 30

148,195 154,111

16,444 14,482 24,792 23,493

189,431 192,087

3Q11 3Q12

Other

PetroleumProducts

Crude Oil andCondensates

176,365 194,852

16,931 13,432

8,104 6,689

201,400 214,973

3Q11 3Q12

PetrochemicalProducts

Dry Gas

PetroleumProducts

392,136 408,918 13,573 2,656 553

3Q11 Domestic Sales Exports ServicesIncome

3Q12

Total Sales

20

Ps. MM

Export Sales Domestic Sales

1.4% 6.7%

4.3%

232,515 232,825 (7,150) 7,460

3Q11 Cost of Sales General Expenses 3Q12

Cost of Sales and General Expenses

Cost of Sales and General Expenses

21

Ps. MM

0.1%

Comprehensive Financing Result

22

Ps. MM

(70,312)

23,947

11,673

82,586

3Q11 Financial Income (Loss),net

ExchangeGain (Loss)

3Q12

Comprehensive Financial Result

Exchange Rate

Pesos / U.S. dollar

3Q11 13.4217

3Q12 12.8521

Taxes and Duties

23

Ps. MM

212,751 223,399 221,074

7,297 3,352 (2,325)

3Q11 Hydrocarbon Duties OtherTaxes

3Q12 IEPSCredit

3Q12Taxes

Payable

Net Income Evolution

24

(1) Plus profit-sharing in non-consolidated subsidiaries, affiliates and others of Ps. 1,258.5 million.

Ps. MM

(81,542)

16,782 5,351 (310)

94,259 (10,649)

23,891

3Q11 TotalSales

OtherRevenues

Cost of Sales andGeneral Expenses

CFR Taxes and Duties 3Q121

External and Structural Effects

January 1 2012 – September 30 2012

Subsidy of

LPG

Opportunity cost of the sale of LPG in the domestic

market. It is the difference between the international

reference price and the maximum price set by

Presidential decree, times the volume sold.

Quality of

gasolines and

diesel

Diesel

imports price

parity

Non-recognized logistics costs on diesel imports. Prices

are kept at parity.

Producer’s price is not adjusted as the quality of

automotive gasolines change.

Total Amount

Cost-cap It is the excess tax generated by deducting the cost-cap

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

costs.

Ps. MM

= 19,974

= 3,250

= 4,155

= 65,859

Consolidated Accounting Cash Flow as of

September 30, 2012

26

(1) Before taxes.

(2) Excludes Financed Public Works Contract Program.

(3) Includes change of cash effect of Ps. (1,098) million.

Ps. MM

114,368

848,776

248,447 1,211,591

114,317

(237,587)

(26,769) (131,489)

(700,331)

Cash at theBeginning of

the Year

Revenuesfrom

Operations

FinancingActivities

AvailableCashflow

DebtPayments

InterestPaid

Investments Taxes Cash at theend of the

Period 3

2

2

1

Consolidated Debt

27

(1) Excludes Finance Public Works Contracts Program.

(2) Includes accrued interests, fees and charges for debt issuance, loss under par, Finance Public Works Contracts Program and

amortized cost effect.

Ps. MM

Short-Term

Long-Term

672,657 641,624

630,060 668,786

248,447 (237,587)

110,497 102,754

(53,803) (114,317)

783,155 744,378 4,165

Total Debt4Q11

FinancingActivities

DebtPayments

ExchangeGain

Others Total Debt9M12

Cash & CashEquivalents

Net Debt9M12

Net Debt4Q11

1 2

-5.0%

Highlights 3Q12

28

Total revenues amounted to Ps. 408.9 billion.

Total hydrocarbons production reached 3,678 Mboed.

Crude oil production averaged 2,541 Mbd.

Taxes generated during the period amounted to Ps. 223.4 billion.

PEMEX recorded an EBITDA of Ps. 282.8 billion.

During the third quarter of 2012 PEMEX recorded a net income of Ps. 23.9 billion. At

the same time, during the first nine months of 2012 net income amounted to Ps.

31.9 billion.

Content

29

Main Highlights

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Financial Results

Questions and Answers

Investor Relations

(+52 55) 1944 - 9700

ri@pemex.com

@PEMEX_RI