A FIBRA is an investment vehicle designed to finance the acquisition or construction of real estate in Mexico through a trust, which will be destined for leasing or acquiring the right to receive income from such assets. Similar to REITs in the United States, FIBRAS combine the features of both fixed and variable income instruments, offering the investor periodic payments (rental income) and, in turn, the possibility of obtaining capital gains (added-value).

Fibra Plus is a trust entered into with Banco Azteca, S.A., Banca Multiple, Division Fiduciaria, which develops, acquires, owns, operates and leases real estate assets destined for rental in Mexico. Fibra Plus is the first Mexican REIT focused on the development of real estate assets for leasing, therefore, it is designed to generate attractive long-term risk-adjusted returns for the CBFI Holders, through the appreciation of its Assets and Cash Distributions.

Fibra Plus draws on the experience of a select group of real estate developers and operators, as well as on a business model that vertically integrates the whole real estate value chain, including: the identification of concepts and locations for real estate developments, the commercialization and leasing process, the operation of the mentioned developments, and even the completion of their stabilization cycle and eventual monetization when the right market conditions for the divestment in the projects are met.

Fibra Plus' value proposal is grounded on the following elements:

• Vertically integrating the entire real estate value chain;
• Focused on opportunities for generating high returns;
• Network of business relationships in the origination, development, operation, stabilization, and commercialization of real estate for lease;
• Capital structure focused on the optimization of resources and time for high value generation;
• Diversification by asset types and location, and
• Capacity and experience to reconvert and/or cycle assets to maximize their value and allow the capitalization of new investment opportunities.

Fibra Plus, identified as No. F/1110 ("Fideicomiso 1110"), was established by an Irrevocable Trust Agreement signed on July 13^rd, 2016 between NFD, S.A. de C.V., acting as Trustor; Banco Azteca, S.A., Institucion de Banca Multiple, Division Fiduciaria, acting as Trustee; and CI Banco, S.A., Institucion de Banca Multiple, acting as Common Representative. Subsequently, on October 14^th, 2016, the respective amendment and restatement of the agreement was made. Fibra Plus counts on an experienced Technical Committee, composed of people with successful careers in different fields and business areas, as well as broad recognition and a reputation built through impeccable performance, providing a comprehensive overview, vision and experience for a timely and effective decision-making process. The committee is composed of eleven members, 36% of whom qualify as independent. Furthermore, the other members were appointed by the majority stakeholders and investors with a significant participation in the company’s capital stock, in accordance with the provisions of the same trust agreement. The Technical Committee is supported by 4 committees to make decisions, listed below:

1. The Nominating Committee: Responsible for the nomination of Independent Members of the Technical Committee, and if necessary, other committees.

2. The Corporate Practices Committee: Focused on resolving conflicts of interest that may arise, as well as the adoption of management policies.

3. The Compensation Committee: Responsible for making recommendations on compensations, development of human resources and retention of key executive officers.

4. The Audit Committee: Its primary function is the analysis and approval of operational and financial information.

• Fibra Plus is an internally managed Mexican REIT, structured in such a way that its Advisor and Administrator is a general partnership in which the company currently holds a stake of 99.99%.
• Property management is performed by professional portfolio managers paid by the company. It is important to take into account that this business relation is not exclusive.
• The trusts are empowered to appoint the management team, including the Chairman of the Technical Committee and up to 51% of its institutional members.

CBFIs are certificates of participation in the assets that comprise FIBRA’s property portfolio, whose returns are linked to the operating income of these properties or, as the case may be, its sale proceeds. These securities combine features of fixed income instruments and stocks since they offer quarterly cash distributions of at least 95% of the profits derived from the rent of properties, as a dividend payment, as well as to receive an additional yield from property valuation. These securities can be traded as easily as stocks.

The CBFIs of Fibra Plus are traded on the Mexican Stock Exchange, since 2016, under ticker symbol “FPLUS 16”.