PRIVATE AND CONFIDENTIAL

May 31st, 2017

Shareholders’ Meeting of
FINANCIERA FORTALEZA, S.A. DE C.V. SOFOM ENR
Prado Norte Núm. 550 piso 1, Col. Lomas de Chapultepec
I sección, Delegación Miguel Hidalgo C.P. 11000, CDMX

Dear Sirs.
Regarding the expert opinion on local taxes corresponding to the financial year 2016 for the Federal District (today
Mexico City), by the company Financiera Fortaleza, S.A. de C.V. SOFOM ENR, we hereby submit our comments and
remarks:

A. Scope

Our review was conducted based on selective evidence on the information and documentation provided to us for
said purposes; which consisted on payrolls, monthly aggregate income, monthly returns for payments made and
summaries of payments, contracts, etc.

B. Remarks and suggestions on the fulfillment of tax obligations stipulated in the Federal Tax Code (CFDF, by its
acronym in Spanish)

Next, we refer to the most significant items noticed during the execution of our work:
a) Employees who work in other entities

In accordance with our review, working papers for computing payroll taxes for the months of January and
February were did not consider payrolls for department Neza 1 and Neza 2, the above, under the argument
that it was not clear if the department was part of the State of Mexico.

On the other hand, in December, the Company considered, for computing this tax, the holiday bonus of the
department of the State of Durango.

b) Differences in payroll concepts

In interim payments, exempt and taxed concepts were correctly considered; however, differences were
identified between the database and the facts declared in departments Neza 1 and Neza 2:
  In the retroactive salary concept, differences were identified in the months of January, February
and June,
 On the other hand, in Wages and Salaries, differences were identified in June and September,
 In the months of January, February, March and September, there were differences in the Savings
Fund
 Lastly, in settlements, there were differences in the months of January and February.

In accordance with the above numerals, differences determined were:

Differences in payroll tax 2016

1. (Month, Tax Determined, Tax Paid, Credit Balance, Debit Balance)

Debit balances for January, February, March and June were paid on May 18th, 2017.
Considering the above, the amounts for Payroll Tax 2016, paid and informed in the expert opinion, are as follows:

a) Electronic Invoice for the payment of Payroll Tax

It is worth mentioning that you can now obtain the digital tax receipt for payment of payroll tax in Mexico
City; in order to obtain the same, you must access the webpage www.finanzas.df.gob.mx, choose the
section “Facturación Electrónica” (Electronic Invoice), provide your Federal Taxpayers’ ID (RFC, by its
acronym in Spanish) and data on the payment for which said receipt is being requested; once the
information is submitted, the system will request the taxpayers’ registry and an e-mail to which the
corresponding document will be forwarded.

Lastly, we consider that, in general terms, the company Financiera Fortaleza, S.A. de C.V. SOFOM ENR, has
reasonably fulfilled its tax obligations in local tax matters for the Federal District for the financial year 2016.

Not having any other matter to address; we remain at your service for any question or comment to this regard.

Sincerely,

Federico Vargas
Gerente de impuestos
Tax Manager