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]

Financial Data and Key Metrics Changes - In Q3 2024, total revenue grew by 8.3%, while operating income rose by 14.6% compared to the same period last year, indicating strong performance across business units [25] - Net consolidated income decreased by 27.5% to MXN 9.2 billion, primarily due to higher interest expenses and lower foreign exchange gains [26] - Gross margin expanded by 300 basis points to reach 44.2%, driven by healthy dynamics in commercial income and financial services [27] Business Line Data and Key Metrics Changes - Proximity Americas reported total revenue growth of 4.8%, with same-store sales flat due to a challenging comparison base and a 5.7% contraction in average traffic [27][6] - The Health division saw total revenues increase by 12.5% in pesos, with same-store sales growth of 7.4%, driven by strong performance in Colombia [32][21] - OXXO Gas posted a 7.6% increase in same-station sales and 8.2% in total revenues, with stable gross margin at 12.4% [33] Market Data and Key Metrics Changes - Average ticket grew by 6.1%, reflecting successful revenue management initiatives despite flat same-store sales [8] - In Europe, Valora's total revenues increased by 20.4% in pesos, driven by growth in retail and B2B foodservice, although traffic dynamics remained challenging [30] - The Colombian health sector is shifting towards private sector growth, benefiting FEMSA's retail operations [63] Company Strategy and Development Direction - The company is focusing on return on invested capital by format and line of business, with plans to accelerate, decelerate, or eliminate initiatives based on performance [9] - OXXO Mexico aims to expand its store base by approximately 1,100 net new stores in 2025, with a focus on enhancing its value proposition [12] - The company is deemphasizing expansion in certain Latin American markets like Chile and Peru, focusing instead on improving profitability [17][88] Management's Comments on Operating Environment and Future Outlook - Management noted a slowing consumer environment in Mexico, typical for the second half of an electoral year, but expects improvement in the economy and consumer environment [7][44] - The company remains optimistic about the performance of its flagship drugstores in Mexico, despite intense competition [66] - Management highlighted the importance of strategic adjustments in the Health division to navigate ongoing challenges, particularly in Mexico [32] Other Important Information - The company allocated MXN 12.1 billion in CapEx, representing 6.2% of total revenues, to drive operational efficiency and maintain competitive advantage [36] - FEMSA plans to return MXN 50 billion to shareholders over two to three years, with MXN 30.7 billion already allocated [37] - The company is focused on leveraging data analytics to enhance promotional offerings and improve customer engagement [34] Q&A Session Summary Question: OXXO same-store sales performance - Management acknowledged disappointing traffic numbers in Q3 but expects a better comparison in Q4, with plans for smart promotions to enhance December sales [44][45] Question: Digital initiatives and cash burn - Digital operations have seen a reduction in cash burn, focusing on leveraging existing customer base rather than aggressive acquisition [50] Question: Activation capabilities within Spin Premia - Management is optimistic about the data capabilities of Spin Premia, which is expected to enhance promotional targeting and revenue generation [57][58] Question: Health division same-store sales drivers - Strong performance in Colombia's retail segment and successful wholesale distribution in Chile contributed to the Health division's growth [63][64] Question: Plans for Bara format - Bara has been performing well with a focus on hard discount strategies, and management plans to accelerate its expansion while ensuring operational separation from OXXO [70][72]

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 ...

Group 1 - FEMSA will hold its Third Quarter Conference Call on October 28, 2024, at 10:30 AM Eastern Time [1] - The quarterly results will be released on the same day before markets open [1] - Participants can join the conference call via a toll-free number or an international dial-in option [1] Group 2 - FEMSA operates in the retail industry through its Proximity Americas Division, which includes the OXXO small-format store chain [2] - The company also has a presence in Europe through its Proximity Europe division, which includes Valora and various convenience formats [2] - In the beverage sector, FEMSA is the largest franchise bottler of Coca-Cola products globally by volume [2] - The company employs over 392,000 individuals across 18 countries [2] - FEMSA is recognized in several sustainability indices, including the Dow Jones Sustainability MILA Pacific Alliance and the FTSE4Good Emerging Index [2]

Fomento Economico Mexicano S.A.B. de C.V. (FMX) , alias FEMSA, stays on the list of investors' favorite beverage stocks, mainly because of effective growth strategies and strong market demand. The company continues to progress on the FEMSA Forward Strategy, which is focused on the long-term value creation of its core businesses — retail, Coca-Cola FEMSA (KOF) and Digital@FEMSA. Its retail business provides substantial opportunities for long-term growth, backed by improvements in the Proximity division. FEMS ...

Fomento Economico Mexicano S.A.B. de C.V. (FMX) alias FEMSA shares have witnessed a pullback from the beginning of 2024, with the stock declining as much as 20.8% in the year-to-date period. This pullback in share price relates to the challenges in the Health division that have impacted its performance in recent quarters. FEMSA's Health division is in a weak spot due to its operations in diverse and often challenging macroeconomic and commercial environments. The Health division is facing complex, competiti ...

The theoretically defensive food and beverage sector hasn't really been all that defensive of late in Mexico, as companies like Arca Continental (OTCPK:EMBVF), Coca-Cola FEMSA (KOF), FEMSA (NYSE:FMX), Grupo Soriana (OGZSY), and WalMex (OTCQX:WMMVY) have all had rather lackluster performances since my last update on FEMSA. While most of these names have managed to outperform the overall index in Mexico, they haven't exactly done well as investors have been much more cautious about the country since the presi ...