As reported in our annual report on Form 20-F for the year ended December 31, 2022, filed with the Securities and Exchange Commission ("SEC") on May 15, 2023 (the "20-F"), during the preparation of the Company's consolidated financial statements as of and for the 2022 period, management concluded that certain prior year errors that were deemed to be immaterial, on an individual and aggregate basis, to the Company's previously reported consolidated financial statements as of and for the 2021 period under the SEC's Staff Accounting Bulletin No. 99, could not be corrected on an out-of-period basis in the current year financial statements because to do so would cause a material misstatement in those financial statements. Due to the decrease in profit before taxes from 2021 to 2022, materiality levels in the 2022 period for accounting purposes decreased to approximately half of the materiality levels established in the 2021 period. Therefore, the Company referred to the guidance prescribed by the SEC's Staff Accounting Bulletin No. 108 which specifies, among other things, that the errors must be corrected as an immaterial restatement of the prior year financial statements the next time those financial statements are filed.

Accordingly, we made corrections of immaterial errors related to our consolidated financial statements for the 2021 and the 2020 periods. We included the adjusted annual consolidated financial statements on the 20-F, but we are also including in this report the quarterly information adjusted for convenience of our investors.

Additionally, when preparing the consolidated financial statements of 2022, we identified some reclassifications and immaterial errors within the quarters which are also included in this report. Most of these reclassifications and immaterial errors are related to or derived from the homologation of accounting policies among the Company's business group after the JAFRA's acquisition (for further information, please refer to the 20-F). Such reclassifications and immaterial errors also impacted on the results for the first quarter of 2023. Therefore, we are also including adjusted financials with respect to such period. Below we provide a representation of the effects of these immaterial corrections:

The adjustments and reclassifications are related to the following matters:
A Cut-off for revenue where control was not transferred to the customer.
B Cost of inventory overstated on the international freight standard cost assumption; offset by overstated accruals liabilities on import expenses.
C Cost of catalogues that had a non-GAAP treatment as prepaids and were expensed at the same time the revenues were realized; instead of when catalogues were received as IFRS states.
D Immaterial provisions for labor matters not recorded.
E Accrual for a tax contingency related to an income tax filing with the International Inspection Administration in México for FY 2010.
F Accounting effects from changing reporting period from 52/53 weeks to fiscal year ended December 31 of every year.
G Incorporation of GuruComm´s results from January to March 2022 to the Group profit and loss.
H Reversal of amortization of Jafra´s brands (as per the PPA valuation, brands changed from defined to indefinite useful life).
I Reclassification of certain Jafra's cash balances from other assets related to collection by third parties (supermarkets, drugstores, etc.)
J Reclassification from Jafra's other assets to Income tax recoverable.
K Reclassification from Jafra´s other assets to Goodwill after PPA valuation adjustments.
L Cancelation of Jafra US retirement savings plan as the employees own it not the Company.
M Reclassification from Jafra´s current Lease liability to non-current Lease liability.
N Reclassification from Jafra´s selling expenses to administrative expenses.
O Reclassification from Jafra´s distribution expenses to administrative expenses.
P Reclassification of interest to trade accounts payable to related parties in cash flow
Q Adjustment from Jafra´s other comprehensive income to Goodwill.
X Others

2

Betterware de México, S.A.P.I. de C.V.

Consolidated Statements of Financial Position

As of September 30, 2021

(In Thousands of Mexican Pesos)

As of September 30, 2021

Adjusted Previously
presented 		Difference Reference
Assets
Cash and cash equivalents 1,273,481 1,273,481 -
Trade accounts receivable, net 818,485 878,961 (60,476 ) A
Accounts receivable from related parties 95,965 95,965 -
Inventories 1,235,516 1,207,080 28,436 A
Prepaid expenses 166,031 207,951 (41,920 ) C
Derivative financial instruments 58,001 58,001 -
Other assets 51,733 51,733 -
Total current assets 3,699,212 3,773,172 (73,960 )
Property, plant and equipment, net 1,053,631 1,053,631 -
Right of use assets, net 19,100 19,100 -
Deferred income tax 17,605 17,605 -
Investment in subsidiaries 26,310 26,310 -
Intangible assets, net 334,782 334,782 -
Goodwill 371,075 371,075 -
Other assets 3,292 3,292 -
Total non-current assets 1,825,795 1,825,795 -
Total assets 5,525,007 5,598,967 (73,960 )
Liabilities and Stockholders' Equity
Accounts payable to suppliers 2,045,266 2,045,266 -
Accrued expenses 191,257 188,288 2,969 D
Income tax payable 202,883 202,883 -
Value added tax payable 42,687 42,687 -
Trade accounts payable to related parties 27,302 27,302 -
Statutory employee profit sharing 19,567 19,567 -
Lease liability 6,129 6,129 -
Total current liabilities 2,535,091 2,532,122 2,969
Employee benefits 1,938 1,938 -
Deferred income tax 33,880 56,959 (23,079 ) A, C, D
Lease liability 13,336 13,336 -
Long term debt and borrowings 1,507,080 1,507,080 -
Total non-current liabilities 1,556,234 1,579,313 (23,079 )
Total Liabilities 4,091,325 4,111,435 (20,110 )
Stockholders' Equity 1,433,682 1,487,532 (53,850 ) A, C, D
Total Stockholders' Equity 1,433,682 1,487,532 (53,850 )
Total Liabilities and Stockholders' Equity 5,525,007 5,598,967 (73,960 )

3

Betterware de México, S.A.P.I. de C.V.

Consolidated Statements of Profit or Loss and Other Comprehensive Income

For the three-months ended on September 30, 2021

(In Thousands of Mexican Pesos)

For the three-months ended on September 30, 2021

Adjusted Previously
presented 		Difference Reference
Net revenue 2,361,461 2,361,461 -
Cost of sales 1,032,998 1,032,998 -
Gross profit 1,328,463 1,328,463 -
Administrative expenses 285,444 285,444 -
Selling expenses 254,425 254,425 -
Distribution expenses 101,323 101,323 -
Total expenses 641,192 641,192 -
Share of results of subsidiaries (882 ) (882 ) -
Operating income 686,389 686,389 -
Interest expense (18,004 ) (18,004 ) -
Interest income 8,041 8,041 -
Unrealized gain in valuation of financial derivative instruments 192,880 192,880 -
Foreign exchange loss, net (125,385 ) (125,385 ) -
Financing cost, net 57,532 57,532 -
Income before income taxes 743,921 743,921 -
Income taxes 230,564 230,564 -
Net income 513,357 513,357 -

For the three-months ended on September 30, 2021

Concept Adjusted Previously
presented 		Difference Reference
Net income including minority interest 513,357 513,357 -
(+) Income taxes 230,564 230,564 -
(+) Financing cost, net (57,532 ) (57,532 ) -
(+) Depreciation and amortization 22,057 22,057 -
EBITDA 708,446 708,446 -
EBITDA margin 30.0 % 30.0 % -

4

Betterware de México, S.A.P.I. de C.V.

Consolidated Statements of Profit or Loss and Other Comprehensive Income

For the nine-months ended on September 30, 2021

(In Thousands of Mexican Pesos)

For the nine-months ended on September 30, 2021

Adjusted Previously
presented 		Difference Reference
Net revenue 7,857,599 7,857,599 -
Cost of sales 3,388,349 3,388,349 -
Gross profit 4,469,250 4,469,250 -
Administrative expenses 919,897 919,897 -
Selling expenses 824,757 824,757 -
Distribution expenses 403,452 403,452 -
Total expenses 2,148,106 2,148,106 -
Share of results of subsidiaries (1,561 ) (1,561 ) -
Operating income 2,319,583 2,319,583 -
Interest expense (47,123 ) (47,123 ) -
Interest income 16,642 16,642 -
Unrealized gain in valuation of financial derivative instruments 360,123 360,123 -
Foreign exchange loss, net (311,503 ) (311,503 ) -
Financing cost, net 18,139 18,139 -
Income before income taxes 2,337,722 2,337,722 -
Income taxes 724,951 724,951 -
Net income 1,612,771 1,612,771 -

For the nine-months ended on September 30, 2021

Concept Adjusted Previously
presented 		Difference Reference
Net income including minority interest 1,612,771 1,612,771 -
(+) Income taxes 724,951 724,951 -
(+) Financing cost, net (18,139 ) (18,139 ) -
(+) Depreciation and amortization 58,472 58,472 -
EBITDA 2,378,055 2,378,055 -
EBITDA margin 30.3 % 30.3 % -

5

Betterware de México, S.A.P.I. de C.V.

Consolidated Statements of Cash Flows

For the nine-months ended on September 30, 2021

(In Thousands of Mexican Pesos)

Adjusted Previously
presented 		Difference Reference
Cash flows from operating activities:
Profit for the period 1,612,771 1,612,771 -
Adjustments for:
Income tax expense recognized in profit of the year 724,951 724,951 -
Depreciation and amortization of non-current assets 58,472 58,188 284 X
Accounting effects from changing reporting (14,217 ) - (14,217 ) F
Interest income recognized in profit or loss (16,642 ) (16,642 ) -
Interest expense recognized in profit or loss 47,123 47,123 -
Unrealized gain in valuation of financial derivative instruments (360,123 ) (360,123 ) -
Share-based payment expense 7,902 7,902 -
Movements in not- controlling interest 1,561 1,561 -
Movements in working capital:
Trade accounts receivable (83,459 ) (121,155 ) 37,696 A
Trade accounts receivable from related parties (95,965 ) (95,965 ) -
Inventory, net 49,156 66,946 (17,790 ) A
Prepaid expenses and other assets (50,456 ) (50,456 ) -
Accounts payable to suppliers and accrued expenses (111,822 ) (105,849 ) (5,973 ) A, C, D
Value added tax payable 15,984 15,984 -
Statutory employee profit sharing 12,213 12,213 -
Trade accounts payable to related parties 2,899 2,899 -
Income taxes paid (612,323 ) (612,323 ) -
Employee benefits 260 260 -
Net cash generated by operating activities 1,188,285 1,188,285 -
Cash flows from investing activities:
Investment in subsidiaries (26,102 ) (26,102 ) -
Payments for property, plant and equipment, net (347,551 ) (347,551 ) -
Proceeds from disposal of property, plant and equipment, net 17,220 17,220 -
Interest received 16,642 16,642 -
Net cash used in investing activities (339,791 ) (339,791 ) -
Cash flows from financing activities:
Repayment of borrowings (646,554 ) (646,554 ) -
Proceeds from borrowings 1,527,080 1,527,080 -
Interest paid (50,446 ) (50,446 ) -
Lease payment (4,913 ) (4,913 ) -
Dividends paid (1,050,000 ) (1,050,000 ) -
Net cash used in in financing activities (224,833 ) (224,833 ) -
Net increase in cash and cash equivalents 623,661 623,661 -
Cash and cash equivalents at the beginning of the period 649,820 649,820 -
Cash and cash equivalents at the end of the period 1,273,481 1,273,481 -

6

Betterware de México, S.A.P.I. de C.V.

Consolidated Statements of Financial Position

As of December 31, 2021

(In Thousands of Mexican Pesos)

As of December 31, 2021

Adjusted Previously
presented 		Difference Reference
Assets
Cash and cash equivalents 1,175,198 1,175,198 -
Trade accounts receivable, net 745,593 778,054 (32,461 ) A
Accounts receivable from related parties 24 24 -
Inventories 1,286,155 1,339,378 (53,223 ) A, B
Prepaid expenses 35,596 69,224 (33,628 ) C
Derivative financial instruments 28,193 28,193 -
Other assets 81,988 81,988 -
Total current assets 3,352,747 3,472,059 (119,312 )
Property, plant and equipment, net 1,069,492 1,069,492 -
Right of use assets, net 17,384 17,384 -
Investment in subsidiaries 497 497 -
Intangible assets, net 369,760 369,760 -
Goodwill 371,075 371,075 -
Other assets 4,274 4,274 -
Total non-current assets 1,832,482 1,832,482 -
Total assets 5,185,229 5,304,541 (119,312 )
Liabilities and Stockholders' Equity
Short term debt and borrowings 28,124 28,124 -
Accounts payable to suppliers 1,984,932 1,984,932 -
Accrued expenses 159,354 142,169 17,185 B
Provisions 118,468 115,192 3,276 D
Income tax payable 97,634 88,679 8,955 E
Statutory employee profit sharing 55,305 55,305 -
Lease liability 6,102 6,102 -
Total current liabilities 2,449,919 2,420,503 29,416
Employee benefits 2,093 2,093 -
Deferred income tax 38,975 80,907 (41,932 ) A,B,C,D
Lease liability 11,778 11,778 -
Long term debt and borrowings 1,482,261 1,482,261 -
Total non-current liabilities 1,535,107 1,577,039 (41,932 )
Total Liabilities 3,985,026 3,997,542 (12,516 )
Stockholders' Equity 1,185,548 1,292,344 (106,796 ) A,B,C,D,E
Non-controlling interest 14,655 14,655 -
Total Stockholders' Equity 1,200,203 1,306,999 (106,796 )
Total Liabilities and Stockholders' Equity 5,185,229 5,304,541 (119,312 )

7

Betterware de México, S.A.P.I. de C.V.

Consolidated Statements of Profit or Loss and Other Comprehensive Income

For the three-months ended on December 31, 2021

(In Thousands of Mexican Pesos)

For the three-months ended on December 31, 2021

Adjusted Previously
presented 		Difference Reference
Net revenue 2,210,084 2,182,069 28,015 A
Cost of sales 1,109,659 1,010,815 98,844 A, B
Gross profit 1,100,425 1,171,254 (70,829 )
Administrative expenses 326,284 325,978 306 D
Selling expenses 431,532 439,824 (8,292 ) C
Distribution expenses 60,327 60,327 -
Total expenses 818,143 826,129 (7,986 )
Share of results of subsidiaries - - -
Operating income 282,282 345,125 (62,843 )
Interest expense (28,695 ) (28,695 ) -
Interest income 9,230 9,230 -
Unrealized loss in valuation of financial derivative instruments (29,808 ) (29,808 ) -
Foreign exchange loss, net (8,236 ) (8,236 ) -
Financing cost, net (57,509 ) (57,509 ) -
Income before income taxes 224,773 287,616 (62,843 )
Income taxes 89,605 99,503 (9,898 ) A,B,C,D,E
Net income including minority interest 135,168 188,113 (52,945 )
Non-controlling interest loss 3,706 3,706 -
Net income 138,874 191,819 (52,945 )

For the three-months ended on December 31, 2021

Concept Adjusted Previously
presented 		Difference Reference
Net income including minority interest 135,168 188,113 (52,945 ) A,B,C,D,E
(+) Income taxes 89,605 99,503 (9,898 ) A,B,C,D,E
(+) Financing cost, net 57,509 57,509 -
(+) Depreciation and amortization 23,650 23,650 -
EBITDA 305,932 368,775 (62,843 )
EBITDA margin 13.8 % 16.9 % (3.1 )%

8

Betterware de México, S.A.P.I. de C.V.

Consolidated Statements of Profit or Loss and Other Comprehensive Income

For the twelve-months ended on December 31, 2021

(In Thousands of Mexican Pesos)

For the twelve-months ended on December 31, 2021

Adjusted Previously
presented 		Difference Reference
Net revenue 10,067,683 10,039,668 28,015 A
Cost of sales 4,498,008 4,399,164 98,844 A, B
Gross profit 5,569,675 5,640,504 (70,829 )
Administrative expenses 1,247,742 1,247,436 306 D
Selling expenses 1,256,289 1,264,581 (8,292 ) C
Distribution expenses 463,779 463,779 -
Total expenses 2,967,810 2,975,796 (7,986 )
Share of results of subsidiaries - - -
Operating income 2,601,865 2,664,708 (62,843 )
Interest expense (75,818 ) (75,818 ) -
Interest income 25,872 25,872 -
Unrealized gain in valuation of financial derivative instruments 330,315 330,315 -
Foreign exchange loss, net (319,739 ) (319,739 ) -
Financing cost, net (39,370 ) (39,370 ) -
Income before income taxes 2,562,495 2,625,338 (62,843 )
Income taxes 814,556 824,454 (9,898 ) A,B,C,D,E
Net income including minority interest 1,747,939 1,800,884 (52,945 )
Non-controlling interest loss 3,706 3,706 -
Net income 1,751,645 1,804,590 (52,945 )

For the twelve-months ended on December 31, 2021

Concept Adjusted Previously
presented 		Difference Reference
Net income including minority interest 1,747,939 1,800,884 (52,945 ) A,B,C,D,E
(+) Income taxes 814,556 824,454 (9,898 ) A,B,C,D,E
(+) Financing cost, net 39,370 39,370 -
(+) Depreciation and amortization 82,122 82,122 -
EBITDA 2,683,987 2,746,830 (62,843 )
EBITDA margin 26.7 % 27.4 % (0.70 )%

9

Betterware de México, S.A.P.I. de C.V.

Consolidated Statements of Cash Flows

For the twelve-months ended on December 31, 2021

(In Thousands of Mexican Pesos)

Adjusted Previously
presented 		Difference Reference
Cash flows from operating activities:
Profit for the period 1,747,939 1,800,884 (52,945 ) A,B,C,D,E
Adjustments for:
Income tax expense recognized in profit of the year 814,556 824,454 (9,898 ) A,B,C,D,E
Depreciation and amortization of non-current assets 82,122 82,122 -
Accounting effects from changing reporting (36,400 ) (22,466 ) (13,934 ) F
Interest income recognized in profit or loss (25,872 ) (25,872 ) -
Interest expense recognized in profit or loss 75,818 75,818 -
Gain of property, plant, equipment sale (478 ) (478 ) -
Unrealized gain in valuation of financial derivative instruments (330,315 ) (330,315 ) -
Share-based payment expense (12,974 ) (12,974 ) -
Movements in working capital:
Trade accounts receivable (21,347 ) (19,720 ) (1,627 ) A
Trade accounts receivable from related parties (24 ) (24 ) -
Inventory, net 4,893 (64,312 ) 69,205 A,B
Prepaid expenses and other assets 22,894 31,184 (8,290 ) C
Accounts payable to suppliers and accrued expenses (64,699 ) (81,882 ) 17,183 B
Provisions (35,537 ) (35,843 ) 306 D
Value added tax payable (26,703 ) (26,703 ) -
Statutory employee profit sharing 47,951 47,951 -
Income taxes paid (777,949 ) (777,949 ) -
Employee benefits 1,722 1,722 -
Net cash generated by operating activities 1,465,597 1,465,597 -
Cash flows from investing activities:
Investment in subsidiaries 50 50 -
Payments for property, plant and equipment, net (401,736 ) (401,736 ) -
Proceeds from disposal of property, plant and equipment, net 12,521 12,521 -
Interest received 25,872 25,872 -
Restricted cash 42,915 42,915 -
Net cash used in investing activities (320,378 ) (320,378 ) -
Cash flows from financing activities:
Repayment of borrowings (646,716 ) (646,716 ) -
Proceeds from borrowings 1,520,000 1,520,000 -
Repayment of derivative financial instruments (18,172 ) (18,172 ) -
Interest paid (49,123 ) (49,123 ) -
Costs of emission (18,931 ) (18,931 ) -
Lease payment (6,899 ) (6,899 ) -
Dividends paid (1,400,000 ) (1,400,000 ) -
Net cash used in in financing activities (619,841 ) (619,841 ) -
Net increase in cash and cash equivalents 525,378 525,378 -
Cash and cash equivalents at the beginning of the period 649,820 649,820 -
Cash and cash equivalents at the end of the period 1,175,198 1,175,198 -

10

Betterware de México, S.A.P.I. de C.V.

Consolidated Statements of Financial Position

As of March 31,2022

(In Thousands of Mexican Pesos)

As of March 31, 2022

Adjusted Previously
presented 		Difference Reference
Assets
Cash and cash equivalents 711,625 711,625 -
Trade accounts receivable, net 709,945 756,100 (46,155 ) A
Accounts receivable from related parties 7 7 -
Inventories 1,644,619 1,670,444 (25,825 ) A,B
Prepaid expenses 70,335 100,754 (30,419 ) C
Other assets 56,083 56,083 -
Total current assets 3,192,614 3,295,013 (102,399 )
Property, plant and equipment, net 1,092,165 1,092,165 -
Right of use assets, net 18,264 18,264 -
Investment in subsidiaries 1,521 1,521 -
Intangible assets, net 376,433 376,433 -
Goodwill 353,703 353,703 -
Other assets 3,229 3,229 -
Total non-current assets 1,845,315 1,845,315 -
Total assets 5,037,929 5,140,328 (102,399 )
Liabilities and Stockholders' Equity
Short term debt and borrowings 107,047 107,047 -
Accounts payable to suppliers 1,850,080 1,850,080 -
Accrued expenses 217,234 199,773 17,461 B,D
Income tax payable 61,290 52,335 8,955 E
Value added tax payable 12,805 12,805 -
Statutory employee profit sharing 67,415 67,415 -
Lease liability 7,934 7,934 -
Derivative financial instruments 71,219 71,219 -
Total current liabilities 2,395,024 2,368,608 26,416
Employee benefits 2,343 2,343 -
Deferred income tax 44,949 80,907 (35,958 ) A,B,C,D
Lease liability 10,575 10,575 -
Long term debt and borrowings 1,483,082 1,483,082 -
Total non-current liabilities 1,540,949 1,576,907 (35,958 )
Total Liabilities 3,935,973 3,945,515 (9,542 )
Stockholders' Equity 1,101,956 1,194,813 (92,857 ) A,B,C,D,E
Total Stockholders' Equity 1,101,956 1,194,813 (92,857 )
Total Liabilities and Stockholders' Equity 5,037,929 5,140,328 (102,399 )

11

Betterware de México, S.A.P.I. de C.V.

Consolidated Statements of Profit or Loss and Other Comprehensive Income

For the three-months ended on March 31, 2022

(In Thousands of Mexican Pesos)

For the three-months ended on March 31, 2022

Adjusted Previously presented Difference Reference
Net revenue 1,860,196 1,869,127 (8,931 ) A,G
Cost of sales 653,852 680,327 (26,475 ) A,B,G
Gross profit 1,206,344 1,188,800 17,544
Administrative expenses 319,650 315,954 3,696 D,G
Selling expenses 257,052 260,247 (3,195 ) C
Distribution expenses 68,078 68,078 -
Total expenses 644,780 644,279 501
Share of results of subsidiaries (16,611 ) (18,333 ) 1,722 G
Operating income 544,953 526,188 18,765
Interest expense (29,417 ) (29,417 ) -
Interest income 5,412 5,412 -
Unrealized loss in valuation of financial derivative instruments (99,412 ) (99,412 ) -
Foreign exchange gain, net 6,840 6,840 -
Financing cost, net (116,577 ) (116,577 ) -
Income before income taxes 428,376 409,611 18,765
Income taxes 148,610 142,636 5,974 A,B,C,D
Net income including minority interest 279,766 266,975 12,791
Non-controlling interest loss 1,468 320 1,148 G
Net income 281,234 267,295 13,939

For the three-months ended on March 31, 2022

Concept Adjusted Previously presented Difference Reference
Net income including minority interest 279,766 266,975 12,791 A,B,C,D,G
(+) Income taxes 148,610 142,636 5,974 A,B,C,D
(+) Financing cost, net 116,577 116,577 -
(+) Depreciation and amortization 21,617 21,617 -
EBITDA 566,570 547,805 18,765
EBITDA margin 30.5 % 29.3 % 1.1 %

12

Betterware de México, S.A.P.I. de C.V.

Consolidated Statements of Cash Flows

For the three-months ended on March 31, 2022

(In Thousands of Mexican Pesos)

Adjusted Previously presented Difference Reference
Cash flows from operating activities:
Profit for the period 279,766 266,975 12,791 A,B,C,D,G
Adjustments for:
Income tax expense recognized in profit of the year 148,610 142,636 5,974 A,B,C,D
Depreciation and amortization of non-current assets 21,617 21,617 -
Interest income recognized in profit or loss (5,412 ) (5,412 ) -
Interest expense recognized in profit or loss 29,417 29,417 -
Gain of property, plant, equipment sale (61 ) (61 ) -
Unrealized loss in valuation of financial derivative instruments 99,412 99,412 -
Share-based payment expense 9,011 9,011 -
Currency translation effect (96 ) (96 ) -
Loss in subsidiaries 5,708 4,560 1,148 G
Movements in working capital:
Trade accounts receivable 35,648 21,954 13,694 A
Trade accounts receivable from related parties 17 17 -
Inventory, net (358,464 ) (331,066 ) (27,398 ) A,B
Prepaid expenses and other assets (7,789 ) (4,580 ) (3,209 ) C
Accounts payable to suppliers and accrued expenses (195,733 ) (192,733 ) (3,000 ) D,B
Value added tax payable 12,805 12,805 -
Statutory employee profit sharing 12,110 12,110 -
Income taxes paid (178,687 ) (178,687 ) -
Employee benefits 250 250 -
Net cash used in operating activities (91,871 ) (91,871 ) -
Cash flows from investing activities:
Investment in subsidiaries (1,024 ) (1,024 ) -
Payments for property, plant and equipment, net (55,521 ) (55,521 ) -
Proceeds from disposal of property, plant and equipment, net 6,299 6,299 -
Interest received 5,412 5,412 -
Net cash used in investing activities (44,834 ) (44,834 ) -
Cash flows from financing activities:
Repayment of borrowings (120,006 ) (120,006 ) -
Proceeds from borrowings 220,000 220,000 -
Interest paid (49,509 ) (49,509 ) -
Lease payment (2,089 ) (2,089 ) -
Share repurchases (25,264 ) (25,264 ) -
Dividends paid (350,000 ) (350,000 ) -
Net cash used in in financing activities (326,868 ) (326,868 ) -
Net decrease in cash and cash equivalents (463,573 ) (463,573 ) -
Cash and cash equivalents at the beginning of the period 1,175,198 1,175,198 -
Cash and cash equivalents at the end of the period 711,625 711,625 -

13

Betterware de México, S.A.P.I. de C.V.

Consolidated Statements of Financial Position

As of June 30,2022

(In Thousands of Mexican Pesos)

As of June 30, 2022

Adjusted Previously presented Difference Reference
Assets
Cash and cash equivalents 575,727 575,727 -
Trade accounts receivable, net 1,170,038 1,215,517 (45,479 ) A
Accounts receivable from related parties 6,414 6,414 -
Inventories 2,527,583 2,540,360 (12,777 ) A,B
Prepaid expenses 149,915 177,126 (27,211 ) C
Value added tax receivable 3,202 3,202 -
Other assets 502,478 502,478 -
Total current assets 4,935,357 5,020,824 (85,467 )
Property, plant and equipment, net 1,848,424 1,848,424 -
Right of use assets, net 153,006 153,006 -
Deferred income tax 302,651 302,651 -
Investment in subsidiaries 1,235 1,235 -
Intangible assets, net 670,457 646,989 23,468 H
Goodwill 3,084,893 3,084,893 -
Other assets 121,732 121,732 -
Total non-current assets 6,182,398 6,158,930 23,468
Total assets 11,117,755 11,179,754 (61,999 )
Liabilities and Stockholders' Equity
Short term debt and borrowings 679,933 679,933 -
Accounts payable to suppliers 1,531,240 1,531,240 -
Accrued expenses 333,421 324,831 8,590 B
Provisions 780,945 775,076 5,869 D
Income tax payable 88,148 79,193 8,955 E
Value added tax payable 67,832 67,832 -
Trade accounts payable to related parties 120,001 120,001
Statutory employee profit sharing 73,442 73,442 -
Lease liability 114,075 114,075 -
Derivative financial instruments 42,904 42,904 -
Total current liabilities 3,831,941 3,808,527 23,414
Employee benefits 224,454 224,454 -
Deferred income tax 68,326 98,304 (29,978 ) A,B,C,D
Lease liability 36,891 36,891 -
Long term debt and borrowings 5,905,688 5,905,688 -
Total non-current liabilities 6,235,359 6,265,337 (29,978 )
Total Liabilities 10,067,300 10,073,864 (6,564 )
Stockholders' Equity 1,050,455 1,105,890 (55,435 ) A,B,C,D,E,H
Total Stockholders' Equity 1,050,455 1,105,890 (55,435 )
Total Liabilities and Stockholders' Equity 11,117,755 11,179,754 (61,999 )

14

Betterware de México, S.A.P.I. de C.V.

Consolidated Statements of Profit or Loss and Other Comprehensive Income

For the three-months ended on June 30, 2022

(In Thousands of Mexican Pesos)

For the three-months ended on June 30, 2022

Adjusted Previously presented Difference Reference
Net revenue 3,243,604 3,242,928 676 A
Cost of sales 986,294 1,003,668 (17,344 ) A,B
Gross profit 2,257,310 2,239,290 18,020
Administrative expenses 769,034 791,204 (22,170 ) D,H
Selling expenses 781,476 784,685 (3,209 ) C
Distribution expenses 158,138 158,138 -
Total expenses 1,708,648 1,734,027 (25,379 )
Share of results of subsidiaries - - -
Operating income 548,662 505,263 43,399
Interest expense (131,163 ) (131,163 ) -
Interest income 10,301 10,301 -
Unrealized gain in valuation of financial derivative instruments 28,315 28,315 -
Foreign exchange loss, net (31,888 ) (31,888 ) -
Financing cost, net (124,435 ) (124,435 ) -
Income before income taxes 424,227 380,828 43,399
Income taxes 135,122 129,143 5,979 A,B,C,D
Net income including minority interest 289,105 251,685 37,420
Non-controlling interest loss 317 316 1
Net income 289,422 252,001 37,421

For the three-months ended on June 30, 2022

Concept Adjusted Previously presented Difference Reference
Net income including minority interest 289,105 251,685 37,420 A,B,C,D,H
(+) Income taxes 135,122 129,143 5,979 A,B,C,D
(+) Financing cost, net 124,435 124,435 -
(+) Depreciation and amortization 66,604 90,072 (23,468 ) H
EBITDA 615,266 595,335 19,931
EBITDA margin 19.0 % 18,4 % 0.6 %

15

Betterware de México, S.A.P.I. de C.V.

Consolidated Statements of Profit or Loss and Other Comprehensive Income

For the six-months ended on June 30, 2022

(In Thousands of Mexican Pesos)

For the six-months ended on June 30, 2022

Adjusted Previously presented Difference Reference
Net revenue 5,103,800 5,112,055 (8,255 ) A,G
Cost of sales 1,640,146 1,683,965 (43,819 ) A,B,G
Gross profit 3,463,654 3,428,090 35,564
Administrative expenses 1,088,684 1,107,158 (18,474 ) D,G,H
Selling expenses 1,038,528 1,044,932 (6,404 ) C
Distribution expenses 226,216 226,216 -
Total expenses 2,353,428 2,378,306 (24,878 )
Share of results of subsidiaries (16,611 ) (18,333 ) 1,722 G
Operating income 1,093,615 1,031,451 62,164
Interest expense (160,580 ) (160,580 ) -
Interest income 15,713 15,713 -
Unrealized loss in valuation of financial derivative instruments (71,097 ) (71,097 ) -
Foreign exchange loss, net (25,048 ) (25,048 ) -
Financing cost, net (241,012 ) (241,012 ) -
Income before income taxes 852,603 790,439 62,164
Income taxes 283,732 271,779 11,953 A,B,C,D
Net income including minority interest 568,871 518,660 50,211
Non-controlling interest loss 1,785 636 1,149 G
Net income 570,656 519,296 51,360

For the six-months ended on September 30, 2022

Concept Adjusted Previously presented Difference Reference
Net income including minority interest 568,871 518,660 50,211 A,B,C,D,G,H
(+) Income taxes 283,732 271,779 11,953 A,B,C,D
(+) Financing cost, net 241,012 241,012 -
(+) Depreciation and amortization 88,221 111,689 (23,468 ) H
EBITDA 1,181,836 1,143,140 38,696
EBITDA margin 23.2 % 22.4 % 0.8 %

16

Betterware de México, S.A.P.I. de C.V.

Consolidated Statements of Cash Flows

For the six-months ended on June 30, 2022

(In Thousands of Mexican Pesos)

Adjusted Previously presented Difference Reference
Cash flows from operating activities:
Profit for the period 568,871 518,660 50,211 A,B,C,D,G,H
Adjustments for:
Income tax expense recognized in profit of the year 283,732 271,779 11,953 A,B,C,D
Depreciation and amortization of non-current assets 88,221 111,689 (23,468 ) H
Interest income recognized in profit or loss (15,713 ) (15,713 ) -
Interest expense recognized in profit or loss 160,580 160,580 -
Gain of property, plant, equipment sale (368 ) (368 ) -
Unrealized loss in valuation of financial derivative instruments 71,097 71,097 -
Share-based payment expense 9,011 9,011 -
Currency translation effect 1,291 1,291 -
Loss in subsidiaries 5,709 4,560 1,149 G
Movements in working capital:
Trade accounts receivable 67,664 54,646 13,018 A
Trade accounts receivable from related parties 3,857 3,857 -
Inventory, net (233,653 ) (193,207 ) (40,446 ) A,B
Prepaid expenses and other assets (149,543 ) (143,126 ) (6,417 ) C
Accounts payable to suppliers and accrued expenses (739,979 ) (731,386 ) (8,593 ) B
Provisions (37,107 ) (39,700 ) 2,593 D
Value added tax payable 85,719 85,719 -
Statutory employee profit sharing (39,058 ) (39,058 ) -
Trade accounts payable to related parties 120,204 120,204
Income taxes paid (307,100 ) (307,100 ) -
Employee benefits 3,642 3,642 -
Net cash used in operating activities (52,923 ) (52,923 ) -
Cash flows from investing activities:
Investment in subsidiaries (4,629,997 ) (4,629,997 ) -
Payments for property, plant and equipment, net (110,603 ) (110,603 ) -
Proceeds from disposal of property, plant and equipment, net 5,486 5,486 -
Interest received 15,713 15,713 -
Net cash used in investing activities (4,719,401 ) (4,719,401 ) -
Cash flows from financing activities:
Repayment of borrowings (220,010 ) (220,010 ) -
Proceeds from borrowings 5,368,651 5,368,651 -
Interest paid (154,629 ) (154,629 ) -
Costs of emission (76,910 ) (76,910 )
Lease payment (18,985 ) (18,985 ) -
Share repurchases (25,264 ) (25,264 ) -
Dividends paid (700,000 ) (700,000 ) -
Net cash generated in in financing activities 4,172,853 4,172,853 -
Net decrease in cash and cash equivalents (599,471 ) (599,471 ) -
Cash and cash equivalents at the beginning of the period 1,175,198 1,175,198 -
Cash and cash equivalents at the end of the period 575,727 575,727 -

17

Betterware de México, S.A.P.I. de C.V.

Consolidated Statements of Financial Position

As of September 30, 2022

(In Thousands of Mexican Pesos)

As of September 30, 2022

Adjusted Previously presented Difference Reference
Assets
Cash and cash equivalents 471,585 471,585 -
Trade accounts receivable, net 1,219,961 1,251,993 (32,032 ) A
Accounts receivable from related parties 229 229 -
Inventories 2,416,485 2,417,522 (1,037 ) A,B
Prepaid expenses 119,208 143,211 (24,003 ) C
Other assets 552,151 552,151 -
Total current assets 4,779,619 4,836,691 (57,072 )
Property, plant and equipment, net 1,815,290 1,815,290 -
Right of use assets, net 137,187 137,187 -
Deferred income tax 302,651 302,651 -
Investment in subsidiaries 1,237 1,237 -
Intangible assets, net 665,905 618,970 46,935 H
Goodwill 3,158,464 3,158,464 -
Other assets 116,875 116,875 -
Total non-current assets 6,197,609 6,150,674 46,935
Total assets 10,977,228 10,987,365 (10,137 )
Liabilities and Stockholders' Equity
Short term debt and borrowings 642,647 642,647 -
Accounts payable to suppliers 1,362,098 1,362,098 -
Accrued expenses 393,486 389,190 4,296 B
Provisions 812,802 805,636 7,166 D
Income tax payable 168,380 159,425 8,955 E
Value added tax payable 77,272 77,272 -
Trade accounts payable to related parties 120,370 120,370 -
Statutory employee profit sharing 103,235 103,235 -
Lease liability 103,274 103,274 -
Derivative financial instruments 29,926 29,926 -
Total current liabilities 3,813,490 3,793,073 20,417
Employee benefits 227,923 227,923 -
Deferred income tax 77,744 98,304 (20,560 ) A,B,C,D
Lease liability 33,190 33,190 -
Long term debt and borrowings 5,910,384 5,910,384 -
Total non-current liabilities 6,249,241 6,269,801 (20,560 )
Total Liabilities 10,062,731 10,062,874 (143 )
Stockholders' Equity 913,749 923,743 (9,994 ) A,B,C,D,E,H
Non-controlling interest 748 748 -
Total Stockholders' Equity 914,497 924,491 (9,994 )
Total Liabilities and Stockholders' Equity 10,977,228 10,987,365 (10,137 )

18

Betterware de México, S.A.P.I. de C.V.

Consolidated Statements of Profit or Loss and Other Comprehensive Income

For the three-months ended on September 30, 2022

(In Thousands of Mexican Pesos)

For the three-months ended on September 30, 2022

Adjusted Previously presented Difference Reference
Net revenue 3,171,289 3,157,842 13,447 A
Cost of sales 983,549 999,584 (16,035 ) A,B
Gross profit 2,187,740 2,158,258 29,482
Administrative expenses 708,542 730,710 (22,168 ) D,H
Selling expenses 859,266 862,474 (3,208 ) C
Distribution expenses 157,968 157,968 -
Total expenses 1,725,776 1,751,152 (25,376 )
Share of results of subsidiaries - - -
Operating income 461,964 407,106 54,858
Interest expense (184,872 ) (184,873 ) 1
Interest income 7,070 7,070 -
Unrealized gain in valuation of financial derivative instruments 12,978 12,978 -
Foreign exchange loss, net (25,503 ) (25,503 ) -
Financing cost, net (190,327 ) (190,328 ) 1
Income before income taxes 271,637 216,778 54,859
Income taxes 220,098 210,680 9,418 A,B,C,D
Net income including minority interest 51,539 6,098 45,441
Non-controlling interest loss 414 414 -
Net income 51,953 6,512 45,441

For the three-months ended on September 30, 2022

Concept Adjusted Previously presented Difference Reference
Net income including minority interest 51,539 6,098 45,441 A,B,C,D,H
(+) Income taxes 220,098 210,680 9,418 A,B,C,D
(+) Financing cost, net 190,327 190,328 (1 )
(+) Depreciation and amortization 72,966 96,434 (23,468 ) H
EBITDA 534,930 503,540 31,390
EBITDA margin 16.9 % 15.9 % (1.0 )%

19

Betterware de México, S.A.P.I. de C.V.

Consolidated Statements of Profit or Loss and Other Comprehensive Income

For the nine-months ended on September 30, 2022

(In Thousands of Mexican Pesos)

For the nine-months ended on September 30, 2022

Adjusted Previously presented Difference Reference
Net revenue 8,275,089 8,269,897 5,192 A,G
Cost of sales 2,623,695 2,683,549 (59,854 ) A,B,G
Gross profit 5,651,394 5,586,348 65,046
Administrative expenses 1,797,226 1,837,868 (40,642 ) D,G,H
Selling expenses 1,897,794 1,907,406 (9,612 ) C
Distribution expenses 384,184 384,184 -
Total expenses 4,079,204 4,129,458 (50,254 )
Share of results of subsidiaries (16,611 ) (18,333 ) 1,722 G
Operating income 1,555,579 1,438,557 117,022
Interest expense (345,452 ) (345,453 ) 1
Interest income 22,783 22,783 -
Unrealized loss in valuation of financial derivative instruments (58,119 ) (58,119 ) -
Foreign exchange loss, net (50,551 ) (50,551 ) -
Financing cost, net (431,339 ) (431,340 ) 1
Income before income taxes 1,124,240 1,007,217 117,023
Income taxes 503,830 482,459 21,371 A,B,C,D
Net income including minority interest 620,410 524,758 95,652
Non-controlling interest loss 2,199 1,050 1,149 G
Net income 622,609 525,808 96,801

For the nine-months ended on September 30, 2022

Concept Adjusted Previously presented Difference Reference
Net income including minority interest 620,410 524,758 95,652 A,B,C,D,G,H
(+) Income taxes 503,830 482,459 21,371 A,B,C,D
(+) Financing cost, net 431,339 431,340 (1 )
(+) Depreciation and amortization 161,187 208,123 (46,936 ) H
EBITDA 1,716,766 1,646,680 70,086
EBITDA margin 20.7 % 19.9 % 0.80 %

20

Betterware de México, S.A.P.I. de C.V.

Consolidated Statements of Cash Flows

For the nine-months ended on September 30, 2022

(In Thousands of Mexican Pesos)

Adjusted Previously presented Difference Reference
Cash flows from operating activities:
Profit for the period 620,410 524,758 95,652 A,B,C,D,G,H
Adjustments for:
Income tax expense recognized in profit of the year 503,830 482,459 21,371 A,B,C,D
Depreciation and amortization of non-current assets 161,187 208,123 (46,936 ) H
Interest income recognized in profit or loss (22,783 ) (22,783 ) -
Interest expense recognized in profit or loss 345,452 345,453 (1 )
Unrealized loss in valuation of financial derivative instruments 58,119 58,119 -
Share-based payment expense 9,011 9,011 -
Gain on disposal of equipment (5 ) (5 ) -
Currency translation effect (153 ) (153 ) -
Loss in subsidiaries 4,537 3,388 1,149 G
Movements in working capital:
Trade accounts receivable 17,741 18,170 (429 ) A
Trade accounts receivable from related parties 7,637 7,637 -
Inventory, net (122,555 ) (70,369 ) (52,186 ) A,B
Prepaid expenses and other assets (167,199 ) (157,574 ) (9,625 ) C
Accounts payable to suppliers and accrued expenses (852,653 ) (839,766 ) (12,887 ) B
Provisions 4,830 940 3,890 D
Value added tax payable 98,361 98,361 -
Statutory employee profit sharing (9,265 ) (9,265 ) -
Trade accounts payable to related parties 120,573 120,573 -
Income taxes paid (433,955 ) (433,955 ) -
Employee benefits 12,371 12,371 -
Net cash generated by operating activities 355,491 355,493 (2 )
Cash flows from investing activities:
Investment in subsidiaries (4,699,204 ) (4,699,204 ) -
Payments for property, plant and equipment, net (129,218 ) (129,218 ) -
Proceeds from disposal of property, plant and equipment, net 7,229 7,229 -
Interest received 27,598 27,597 1
Net cash used in investing activities (4,793,595 ) (4,793,596 ) 1
Cash flows from financing activities:
Repayment of borrowings (370,157 ) (370,157 ) -
Proceeds from borrowings 5,490,252 5,490,252 -
Interest paid (334,987 ) (334,987 ) -
Costs of emission (88,144 ) (88,144 )
Lease payment (37,599 ) (37,600 ) 1
Share repurchases (25,264 ) (25,264 ) -
Dividends paid (899,610 ) (899,610 ) -
Net cash used in in financing activities 3,734,491 3,734,490 1
Net decrease in cash and cash equivalents (703,613 ) (703,613 ) -
Cash and cash equivalents at the beginning of the period 1,175,198 1,175,198 -
Cash and cash equivalents at the end of the period 471,585 471,585 -

21

Betterware de México, S.A.P.I. de C.V.

Consolidated Statements of Financial Position

As of December 31, 2022

(In Thousands of Mexican Pesos)

As of December 31, 2022

Adjusted Previously presented Difference Reference
Assets
Cash and cash equivalents 815,644 686,146 129,498 I
Trade accounts receivable, net 971,063 995,200 (24,137 ) A
Accounts receivable from related parties 61 61 -
Inventories 2,122,670 2,111,089 11,581 A,B
Prepaid expenses 52,562 73,357 (20,795 ) C
Income tax recoverable 204,860 90,231 114,629 J,E
Other assets 188,266 471,126 (282,860 ) I,J,K
Total current assets 4,355,126 4,427,210 (72,084 )
Property, plant and equipment, net 2,973,374 2,973,374 -
Right of use assets, net 293,565 293,565 -
Deferred income tax 319,157 319,157 -
Investment in subsidiaries 1,236 1,236 -
Intangible assets, net 1,743,882 1,673,479 70,403 H
Goodwill 1,599,718 1,575,127 24,591 K
Other assets 46,675 115,384 (68,709 ) L
Total non-current assets 6,977,607 6,951,322 26,285
Total assets 11,332,733 11,378,532 (45,799 )
Liabilities and Stockholders' Equity
Short term debt and borrowings 230,419 230,419 -
Accounts payable to suppliers 1,371,778 1,371,778 -
Accrued expenses 305,588 305,588 -
Provisions 793,412 790,136 3,276 D
Value added tax payable 89,142 89,142 -
Trade accounts payable to related parties 96,859 96,859 -
Statutory employee profit sharing 135,298 135,298 -
Lease liability 85,399 211,656 (126,257 ) M
Derivative financial instruments 15,329 15,329 -
Total current liabilities 3,123,224 3,246,205 (122,981 )
Employee benefits 153,907 222,616 (68,709 ) L
Deferred income tax 833,557 844,545 (10,988 ) A,B,C,D
Lease liability 206,509 80,252 126,257 M
Long term debt and borrowings 5,918,256 5,918,256 -
Total non-current liabilities 7,112,229 7,065,669 46,560
Total Liabilities 10,235,453 10,311,874 (76,421 )
Stockholders' Equity 1,096,097 1,065,475 30,622 A,B,C,D,H
Non-controlling interest 1,183 1,183 -
Total Stockholders' Equity 1,097,280 1,066,658 30,622
Total Liabilities and Stockholders' Equity 11,332,733 11,378,532 (45,799 )

22

Betterware de México, S.A.P.I. de C.V.

Consolidated Statements of Profit or Loss and Other Comprehensive Income

For the three-months ended on December 31, 2022

(In Thousands of Mexican Pesos)

For the three-months ended on December 31, 2022

Adjusted Previously presented Difference Reference
Net revenue 3,232,460 3,229,328 3,132 A,G
Cost of sales 955,398 977,533 (22,135 ) A,B,G
Gross profit 2,277,062 2,251,795 25,267
Administrative expenses 799,416 739,516 59,900 D,G,H
Selling expenses 910,236 953,728 (43,492 ) C
Distribution expenses 89,332 138,722 (49,390 )
Total expenses 1,798,984 1,831,966 (32,982 )
Share of results of subsidiaries (5,251 ) (3,529 ) (1,722 ) G
Operating income 472,827 416,300 56,527
Interest expense (197,869 ) (197,868 ) (1 )
Interest income 5,906 5,906 -
Unrealized gain in valuation of financial derivative instruments 14,597 14,597 -
Foreign exchange loss, net (32,817 ) (32,817 ) -
Financing cost, net (210,183 ) (210,182 ) (1 )
Income before income taxes 262,644 206,118 56,526
Income taxes 13,090 (1,670 ) 14,760 A,B,C,D,E
Net income including minority interest 249,554 207,788 41,766
Non-controlling interest loss 394 1,543 (1,149 ) G
Net income 249,948 209,331 40,617

For the three-months ended on December 31, 2022

Concept Adjusted Previously presented Difference Reference
Net income including minority interest 249,554 207,788 41,766 A,B,C,D,E,G,H
(+) Income taxes 13,090 (1,670 ) 14,760 A,B,C,D,E
(+) Financing cost, net 210,183 210,182 1
(+) Depreciation and amortization 126,515 149,982 (23,467 ) H
EBITDA 599,342 566,282 33,060
EBITDA margin 18.5 % 17.5 % 1.0 %

23

Betterware de México, S.A.P.I. de C.V.

Consolidated Statements of Profit or Loss and Other Comprehensive Income

For the twelve-months ended on December 31, 2022

(In Thousands of Mexican Pesos)

For the twelve-months ended on December 31, 2022

Adjusted Previously presented Difference Reference
Net revenue 11,507,549 11,499,225 8,324 A
Cost of sales 3,579,093 3,661,082 (81,989 ) A,B
Gross profit 7,928,456 7,838,143 90,313
Administrative expenses 2,596,642 2,577,384 19,258 D,H
Selling expenses 2,808,030 2,861,134 (53,104 ) C
Distribution expenses 473,516 522,906 (49,390 )
Total expenses 5,878,188 5,961,424 (83,236 )
Share of results of subsidiaries (21,862 ) (21,862 ) -
Operating income 2,028,406 1,854,857 173,549
Interest expense (543,321 ) (543,321 ) -
Interest income 28,689 28,689 -
Unrealized loss in valuation of financial derivative instruments (43,522 ) (43,522 ) -
Foreign exchange loss, net (83,368 ) (83,368 ) -
Financing cost, net (641,522 ) (641,522 ) -
Income before income taxes 1,386,884 1,213,335 173,549
Income taxes 516,920 480,789 36,131 A,B,C,D,E
Net income including minority interest 869,964 732,546 137,418
Non-controlling interest loss 2,593 2,593 -
Net income 872,557 735,139 137,418

For the twelve-months ended on December 31, 2022

Concept Adjusted Previously presented Difference Reference
Net income including minority interest 869,964 732,546 137,418 A,B,C,D,E,H
(+) Income taxes 516,920 480,789 36,131 A,B,C,D,E
(+) Financing cost, net 641,522 641,522 -
(+) Depreciation and amortization 287,702 358,105 (70,403 ) H
EBITDA 2,316,108 2,212,962 103,146
EBITDA margin 20.1 % 19.2 % 0.90 %

24

Betterware de México, S.A.P.I. de C.V.

Consolidated Statements of Cash Flows

For the twelve-months ended on December 31, 2022

(In Thousands of Mexican Pesos)

Adjusted Previously presented Difference Reference
Cash flows from operating activities:
Profit for the period 869,964 732,546 137,418 A,B,C,D,E,H
Adjustments for:
Income tax expense recognized in profit of the year 516,920 480,789 36,131 A,B,C,D,E
Depreciation and amortization of non-current assets 287,702 358,105 (70,403 ) H
Interest income recognized in profit or loss 543,321 543,321 -
Interest expense recognized in profit or loss (28,689 ) (28,689 ) -
Loss of property, plant, equipment sale 4,758 4,758 -
Unrealized gain in valuation of financial derivative instruments 43,522 43,522 -
Share-based payment expense 5,991 5,934 57
Currency effect (8,653 ) 789 (9,442 ) X
Divestment of subsidiaries 10,983 11,755 (772 ) G
Movements in working capital:
Trade accounts receivable 266,640 274,963 (8,323 ) A
Trade accounts receivable from related parties 30,246 30,246 -
Inventory, net 171,260 236,064 (64,804 ) A,B
Prepaid expenses and other assets (48,383 ) (186,595 ) 138,212 C,I,J,K,L
Accounts payable to suppliers and accrued expenses (940,039 ) (915,238 ) (24,801 ) B,P
Provisions (24,640 ) (24,640 ) -
Value added tax payable 110,231 110,231 -
Statutory employee profit sharing 22,798 22,798 -
Trade accounts payable to related parties 97,029 86,615 10,414 P
Income taxes paid (542,527 ) (542,527 ) -
Employee benefits 21,268 21,268 -
Net cash generated by operating activities 1,409,702 1,266,015 143,687
Cash flows from investing activities:
Investment in subsidiaries (4,700,349 ) (4,700,349 ) -
Payments for property, plant and equipment, net (175,653 ) (169,652 ) (6,001 ) X
Proceeds from disposal of property, plant and equipment, net 22,091 16,090 6,001 X
Interest received 28,689 43,384 (14,695 ) P
Net cash used in investing activities (4,825,222 ) (4,810,527 ) (14,695 )
Cash flows from financing activities:
Repayment of borrowings (1,120,025 ) (1,120,025 ) -
Proceeds from borrowings 5,818,705 5,818,705 -
Interest paid (502,847 ) (502,847 ) -
Costs of emission (88,722 ) (88,722 ) -
Lease payment (76,214 ) (76,777 ) 563
Share repurchases (25,321 ) (25,264 ) (57 )
Dividends paid (949,610 ) (949,610 ) -
Net cash generated by in financing activities 3,055,966 3,055,460 506
Net decrease in cash and cash equivalents (359,554 ) (489,052 ) 129,498 I
Cash and cash equivalents at the beginning of the period 1,175,198 1,175,198 -
Cash and cash equivalents at the end of the period 815,644 686,146 129,498

25

Betterware de México, S.A.P.I. de C.V.

Consolidated Statements of Financial Position

As of March 31,2023

(In Thousands of Mexican Pesos)

As of March 31, 2023

Adjusted Previously presented Difference Reference
Assets
Cash and cash equivalents 579,788 579,788 -
Trade accounts receivable, net 1,209,278 1,238,152 (28,874 ) A
Accounts receivable from related parties 12 12 -
Inventories 1,845,278 1,832,185 13,093 A,B
Prepaid expenses 113,075 134,843 (21,768 ) C
Income tax recoverable 217,268 235,280 (18,012 ) E
Other assets 192,968 192,968 -
Total current assets 4,157,667 4,213,228 (55,561 )
Property, plant and equipment, net 2,933,315 2,933,315 -
Right of use assets, net 282,343 282,343 -
Deferred income tax 319,157 319,157
Investment in subsidiaries 1,236 1,236 -
Intangible assets, net 1,715,686 1,645,283 70,403 H
Goodwill 1,599,718 1,553,689 46,029 Q
Other assets 44,373 44,373 -
Total non-current assets 6,895,828 6,779,396 116,432
Total assets 11,053,495 10,992,624 60,871
Liabilities and Stockholders' Equity
Short term debt and borrowings 761,419 761,419 -
Accounts payable to suppliers 1,382,580 1,382,580 -
Accrued expenses 280,890 279,784 1,106 X
Provisions 791,437 792,345 (908 ) D
Value added tax payable 132,192 132,192 -
Trade accounts payable to related parties 104,917 104,917
Statutory employee profit sharing 162,844 162,A844 -
Lease liability 94,890 94,890 -
Derivative financial instruments 65,545 65,545 -
Total current liabilities 3,776,714 3,776,516 198
Employee benefits 150,876 150,876 -
Deferred income tax 832,239 844,545 (12,306 ) A,B,C,D
Lease liability 184,731 184,731 -
Long term debt and borrowings 4,926,846 4,926,846 -
Total non-current liabilities 6,094,692 6,106,998 (12,306 )
Total Liabilities 9,871,406 9,883,514 (12,108 )
Stockholders' Equity 1,180,732 1,107,753 72,979 Q
Non-controlling interest 1,357 1,357
Total Stockholders' Equity 1,182,089 1,109,110 72,979
Total Liabilities and Stockholders' Equity 11,053,495 10,992,624 60,871

26

Betterware de México, S.A.P.I. de C.V.

Consolidated Statements of Profit or Loss and Other Comprehensive Income

For the three-months ended on March 31, 2023

(In Thousands of Mexican Pesos)

For the three-months ended on March 31, 2023

Adjusted Previously presented Difference Reference
Net revenue 3,264,211 3,268,948 (4,737 ) A
Cost of sales 887,983 889,495 (1,512 ) A
Gross profit 2,376,228 2,379,453 (3,225 )
Administrative expenses 824,760 824,562 198 D
Selling expenses 845,475 844,502 973 C
Distribution expenses 145,177 145,177 -
Total expenses 1,815,412 1,814,241 1,171
Share of results of subsidiaries - - -
Operating income 560,816 565,212 (4,396 )
Interest expense -210,935 (210,935 ) -
Interest income 12,494 12,494 -
Unrealized loss in valuation of financial derivative instruments -50,216 (50,216 ) -
Foreign exchange gain, net -10,573 (10,573 ) -
Financing cost, net -259,230 (259,230 ) -
Income before income taxes 301,586 305,982 (4,396 )
Income taxes 113,357 114,081 (724 ) A,C,D,E
Net income including minority interest 188,229 191,901 (3,672 )
Non-controlling interest gain -232 (232 ) -
Net income 187,997 191,669 (3,672 )

For the three-months ended on March 31, 2023

Concept Adjusted Previously presented Difference Reference
Net income including minority interest 188,229 191,901 (3,672 ) A,C,D,E
(+) Income taxes 113,357 114,081 (724 ) A,C,D,E
(+) Financing cost, net 259,230 259,230 -
(+) Depreciation and amortization 93,744 93,744 -
EBITDA 654,560 658,956 (4,396 )
EBITDA margin 20.1 % 20.2 % (0.1 )%

27

Betterware de México, S.A.P.I. de C.V.

Consolidated Statements of Cash Flows

For the three-months ended on March 31, 2023

(In Thousands of Mexican Pesos)

Adjusted Previously presented Difference Reference
Cash flows from operating activities:
Profit for the period 188,229 191,901 (3,672 ) A,C,D,E
Adjustments for:
Income tax expense recognized in profit of the year 113,357 114,081 (724 ) A,C,D,E
Depreciation and amortization of non-current assets 93,744 93,744 -
Interest income recognized in profit or loss (12,494 ) (12,494 ) -
Interest expense recognized in profit or loss 210,935 210,935 -
Unrealized loss in valuation of financial derivative instruments 50,216 50,216 -
Share-based payment expense 489 489 -
Currency translation effect (4,045 ) (4,125 ) 80
Movements in not- controlling interest (58 ) (58 ) -
Movements in working capital:
Trade accounts receivable (238,216 ) (242,952 ) 4,736 A
Trade accounts receivable from related parties 49 49 -
Inventory, net 277,392 278,904 (1,512 ) A
Prepaid expenses and other assets (62,914 ) 70,657 (133,571 ) C,I,J,K,L
Accounts payable to suppliers and accrued expenses (6,512 ) (15,861 ) 9,349 B,P
Provisions (1,975 ) 2,209 (4,184 ) D
Value added tax payable 43,050 43,050 -
Statutory employee profit sharing 27,546 27,546 -
Trade accounts payable to related parties 8,058 8,058 -
Income taxes paid (129,866 ) (129,866 ) -
Employee benefits (3,031 ) (3,031 ) -
Net cash generated by in operating activities 553,954 683,452 (129,498 )
Cash flows from investing activities:
Investment in subsidiaries - - -
Payments for property, plant and equipment, net (10,707 ) (10,707 ) -
Proceeds from disposal of property, plant and equipment, net 6,065 6,065 -
Interest received 12,494 12,494 -
Net cash generated by investing activities 7,852 7,852 -
Cash flows from financing activities:
Repayment of borrowings (1,000,000 ) (1,000,000 ) -
Proceeds from borrowings 550,000 550,000 -
Interest paid (215,719 ) (215,719 ) -
Lease payment (32,137 ) (32,137 ) -
Dividends paid (99,806 ) (99,806 ) -
Net cash used in in financing activities (797,662 ) (797,662 ) -
Net decrease in cash and cash equivalents (235,856 ) (106,358 ) (129,498 )
Cash and cash equivalents at the beginning of the period 815,644 686,146 129,498
Cash and cash equivalents at the end of the period 579,788 579,788 -

28

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Betterware de Mexico SA de CV published this content on 11 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 August 2023 20:05:21 UTC.