Alfa S.A.B. de C.V. (BMV:ALFA A) (?ALFA?) held its extraordinary shareholders' meeting on October 24, 2024, during which the proposal to spin off its entire ownership stake in ALPEK, S.A.B. de C.V. (BMV:ALPEK A) (?Alpek?) was approved. On behalf of ALFA's Board of Directors, Álvaro Fernández Garza, Chairman of the Board and CEO, presented the proposal through which ALFA, as the original company, will conduct the spin-off. Among the main agreements, a new entity will be formed as the spun-off company (?Controladora Alpek?), which will be listed on the Mexican Stock Exchange.

ALFA will transfer its entire share ownership in Alpek's capital stock to Controladora Alpek, along with other assets, liabilities, and capital. ALFA shareholders will receive one share of Controladora Alpek for each of their ALFA shares, in addition to retaining their stake in ALFA's capital stock. The Company expects to complete the spin-off, listing, and share distribution processes during 2025.

?We appreciate the vote of confidence from our shareholders in supporting the spin-off of ALFA's stake in Alpek. This last spin-off will take us to the structure that we initially envisioned, in which ALFA is Sigma, and its fair value is recognized as a leading company in the food industry, with operations in 17 countries and a portfolio of more than 100 recognized brands, including FUD, Campofrío, and Bar-S,? Álvaro Fernández Garza, Chairman of the Board and Chief Executive Officer said.