Core Strategy - FEMSA is focused on its Forward Strategy, which emphasizes long-term value creation in its core businesses [1][3] - The company is executing its Forward plan through strategic divestments, including the recent sale of its plastics solutions operations to AMMI for 3,165 million pesos [1][2][3] Recent Transactions - FEMSA has completed the divestiture of its refrigeration and food service equipment operations to Mill Point Capital LLC for approximately 4,060 million pesos, supporting its balance sheet and strategic focus [4] - Both transactions are cash-free and debt-free, indicating a clean financial transition [1][4] Market Performance - FEMSA's shares have declined by 17.6% over the past three months, which is more significant than the industry average drop of 9.1% [5] - The company is facing a challenging consumer environment in Mexico, impacting same-store sales due to reduced customer traffic [5] Digital Initiatives - FEMSA is performing well in the digital space through its Digital@FEMSA unit, which aims to create a value-added digital and financial ecosystem [6] - The Coca-Cola FEMSA division is advancing its omnichannel approach, while the Proximity division is enhancing digital initiatives within OXXO stores [7]

Group 1 - FEMSA successfully closed the divestiture of its plastics solutions operations to AMMI for an amount of 3,165 million pesos on a cash-free, debt-free basis [1] - The divestiture was previously disclosed on October 28, 2024, indicating a strategic move by FEMSA to streamline its operations [1] - AMMI is a diversified corporation focused on non-GMO corn production and sustainable plastic packaging, highlighting its commitment to sustainability [1][3] Group 2 - FEMSA operates in various sectors including retail through its OXXO store chain and beverage through Coca-Cola FEMSA, employing over 392,000 people across 18 countries [2] - AMMI has 59 years of experience and operates the world's largest non-GMO corn production plant, serving food and beverage industries globally [3] - AMMI aims to become carbon neutral by 2030, reflecting its strong focus on sustainability [3]

Group 1 - FEMSA is identified as a quality business available at a significant discount, which is considered rare in current market conditions [1] - The company operates in the services sector and has a long-standing presence of over 25 years in the financial and investment industry [1] - The analyst expresses a personal beneficial long position in FEMSA shares, indicating confidence in the company's future performance [1]

Core Strategy - FEMSA has reaffirmed its commitment to long-term value creation by focusing on core business verticals, aligning with the "FEMSA Forward" strategy introduced in early 2023 [1][3] - The strategy includes exploring alternatives for strategic businesses, including potential divestments [3] Recent Divestitures - FEMSA has completed the divestiture of its refrigeration and food service equipment operations to Mill Point Capital LLC for approximately 4,060 million Mexican pesos on a cash-free, debt-free basis [2] - The company sold 13.9% of its outstanding shares in Heineken in 2023, reducing its stake to less than 1% [4] Financial Performance - FEMSA reported solid revenue growth of 8.3% year-over-year, reaching $10 billion, with gross profit increasing by 12.1% [8] - Operating income rose by 14.6%, supported by effective cost management and strategic investments [9] - The company maintains a robust cash position of approximately $7.9 billion, positioning it well for future growth [9] Digital Initiatives - FEMSA is advancing in the digital space through its tech and innovation unit, Digital@FEMSA, which aims to build a value-added digital and financial ecosystem [5] - The digital wallet, OXXO Premia, and loyalty program have shown strong performance, with Spin by OXXO reaching 12.5 million active users, a 42.2% year-over-year increase [7]

Group 1 - FEMSA successfully closed the divestiture of its refrigeration and foodservice equipment operations, Imbera and Torrey, to Mill Point Capital LLC for a total amount of 8,000 million pesos on a cash-free, debt-free basis [1] - The divestiture was previously disclosed on July 17, 2024, indicating a strategic move by FEMSA to streamline its operations [1] Group 2 - FEMSA operates in the retail industry through its Proximity Americas Division, which includes the OXXO small-format store chain, and Proximity Europe, which encompasses Valora, its European retail unit [2] - The company also has a Health Division that includes drugstores and digital financial services initiatives under Digital@FEMSA, such as Spin by OXXO and Spin Premia [2] - FEMSA is the largest franchise bottler of Coca-Cola products in the world by volume through its beverage division, Coca-Cola FEMSA [2] - The company employs over 392,000 individuals across 18 countries and is recognized in various sustainability indexes, including the Dow Jones Sustainability MILA Pacific Alliance and the FTSE4Good Emerging Index [2] Group 3 - Mill Point Capital LLC is a private equity firm that focuses on control investments in lower-middle market companies across the Business Services, Industrials, and IT Services sectors in North America [3] - The firm aims to enhance portfolio company value through strategic initiatives and operational improvements [3]

Core Insights - FEMSA reported third-quarter 2024 net majority earnings per ADS of 84 cents, with adjusted net majority earnings per ADS at $1.37, down from $1.75 in the same quarter last year [1][2] - Total revenues reached $10 billion, reflecting an 8.3% year-over-year improvement in local currency, driven by gains across all business units and favorable currency rates [2] - Net consolidated income was Ps. 9,243 million (US$469.4 million), marking a decline of 27.5% from the previous year [1] Financial Performance - Gross profit increased by 12.1% year over year to Ps. 79,368 million (US$4.03 billion), with a consolidated gross margin expansion of 130 basis points [4] - Operating income improved 14.6% year over year to Ps. 17,374 million (US$882.4 million), with a consolidated operating margin increase of 50 basis points to 8.8% [6] Segment Performance - **Proximity Americas**: Revenues rose 4.8% year over year to Ps. 77,594 million (US$3.9 billion), with flat same-store sales due to a decline in store traffic [7][8] - **Proximity Europe**: Revenues grew 20.4% year over year to Ps. 13,480 million (US$684.6 million), with operating income increasing by 57.2% [9] - **Health Division**: Reported revenues of Ps. 20,883 million (US$1.06 billion), up 12.5% year over year, with same-store sales rising 7.4% [10] - **Fuel Division**: Revenues increased 8.2% year over year to Ps. 17,076 million (US$867.2 million), with operating income rising 17% [11] - **Coca-Cola FEMSA**: Revenues advanced 10.7% year over year to Ps. 69,601 million (US$3.5 billion), with operating margin expanding by 30 basis points [12] Financial Position - As of September 30, 2024, FEMSA had cash and cash equivalents of Ps. 155,770 million (US$7.9 billion) and long-term debt of Ps. 137,794 million (US$7 billion) [13] - Capital expenditures in Q3 2024 totaled Ps. 12,138 million (US$616.4 million), focusing on investments in Coca-Cola FEMSA and Proximity Americas [13]

Group 1 - FEMSA has reached a definitive agreement to divest its plastics solutions operations to AMMI for a total amount of 3,165 million pesos on a cash-free, debt-free basis [1] - This transaction is part of the ongoing FEMSA Forward plan initiated in February 2023 and is subject to regulatory approvals and customary conditions, with an expected closing in the coming months [2] Group 2 - FEMSA operates in various sectors including retail through its OXXO store chain and health division, as well as in the beverage industry through Coca-Cola FEMSA, employing over 392,000 people across 18 countries [3] - AMMI is a conglomerate with 59 years of experience, focusing on non-GMO corn production and sustainable plastic packaging, with its products distributed in 180 countries [4] - AMMI aims to become carbon neutral by 2030 and operates the world's largest non-GMO corn production plant in Mexico [4]

Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Q3 2024 Earnings Conference Call October 28, 2024 10:30 AM ET Company Participants Juan Fonseca - Director, IR José Antonio Fernández Garza-Lagüera - CEO, Proximity & Health Martin Arias - CFO Conference Call Participants Ricardo Alves - Morgan Stanley Bob Ford - Bank of America Antonio Hernandez - Actinver Ben Theurer - Barclays Thiago Bortoluci - Goldman Sachs Alvaro Garcia - BTG Pactual Rodrigo Alcantara - UBS Carlos Laboy - HSBC Hector Maya - Scotiab ...

MONTERREY, Mexico, Oct. 28, 2024 (GLOBE NEWSWIRE) -- Fomento Económico Mexicano, S.A.B. de C.V. ("FEMSA") (NYSE: FMX; BMV: FEMSAUBD, FEMSAUB) announced today its operational and financial results for the third quarter of 2024. FEMSA: Total Consolidated Revenues grew 8.3% and Income from Operations increased 14.6% compared to 3Q23. FEMSA Retail1: Proximity Americas total Revenues grew 4.8% and Income from operations increased 5.9% versus 3Q23. DIGITAL: Spin by OXXO had 8.2 million active users2 representing ...

Exhibit 99.1 3Q 2024 Results October 28, 2024 Investor Contact (52) 818-328-6167 investor@femsa.com.mx femsa.gcs-web.com Media Contact (52) 555-249-6843 comunicacion@femsa.com.mx femsa.com October 28, 2024 | Page 1 HIGHLIGHTS Monterrey, Mexico, October 28, 2024 — Fomento Económico Mexicano, S.A.B. de C.V. ("FEMSA") (NYSE: FMX; BMV: FEMSAUBD, FEMSAUB) announced today its operational and financial results for the third quarter of 2024. Financial Summary for the Third Quarter 2024 Change vs. comparable period ...