Common use of Description of Voting Rights of Deposited Securities Clause in Contracts

Description of Voting Rights of Deposited Securities. Holders of ADSs generally have the right to instruct the Depositary to exercise the voting rights attributable to the Deposited Securities represented by such Holders’ ADSs. All holders of CPOs, including CPOs represented by ADSs, have the right to vote at meetings of CPO holders. However, the Estatutos and the agreement establishing the terms of the Trust pursuant to which CPOs are issued prohibit non-Mexican persons from directly holding or voting A Shares. The nationality of a holder of CPOs is established by reference to the information contained in the registry book for CPOs maintained by the CPO Trustee. Holders of ADSs are deemed to be non-Mexican nationals, and accordingly, Holders of ADSs do not have any right to instruct the Depositary to cause the CPO Trustee to vote the A Shares held in the Trust underlying the CPOs represented by ADSs. Under the terms of the Trust, A Shares underlying CPOs (including CPOs represented by ADSs) held by non-Mexican nationals will be voted at each shareholders’ meeting by the CPO Trustee according to the votes cast by the majority of all A Shares held by Mexican nationals and B Shares voted at the meeting. Under the terms of the Deposit Agreement, Holders of ADSs may have the right to instruct the Depositary to cause the CPO Trustee to exercise the voting rights attributable to the B Shares held in the Trust underlying the CPOs represented by the ADSs. At each meeting of shareholders of the Company, the B Shares underlying CPOs (including CPOs represented by ADSs) will be voted by the CPO Trustee in accordance with instructions timely received from the holders thereof. In accordance with the terms of the Trust, the CPO Trustee will vote the B Shares held in the Trust for which no voting instructions have been received as the CPO Trustee may deem convenient, in cooperation with a technical committee appointed pursuant to the terms of the Trust.

Description of Voting Rights of Deposited Securities. Holders of ADSs generally have the right to instruct the Depositary to exercise the voting rights attributable to the Deposited Securities represented by such Holders’ ADSs. All holders of CPOs, including CPOs represented by ADSs, have the right to vote at meetings of CPO holders. However, the Estatutos and the agreement establishing the terms of the Trust pursuant to which CPOs are issued prohibit non-Mexican persons from directly holding or voting A Shares. The nationality of a holder of CPOs is established by reference to the information contained in the registry book for CPOs maintained by the CPO Trustee. Holders of ADSs are deemed to be non-Mexican nationals, and accordingly, Holders of ADSs do not have any right to instruct the Depositary to cause the CPO Trustee to vote the A Shares held in the Trust underlying the CPOs represented by ADSs. Under the terms of the Trust, A Shares underlying CPOs (including CPOs represented by ADSs) held by non-Mexican nationals will be voted at each shareholders’ meeting by the CPO Trustee according to the votes cast by the majority of all A Shares held by Mexican nationals and B Shares voted at the meeting. Under the terms of the this Deposit Agreement, Holders of ADSs may have the right to instruct the Depositary to cause the CPO Trustee to exercise the voting rights attributable to the B Shares held in the Trust underlying the CPOs represented by the ADSs. At each meeting of shareholders of the Company, the B Shares underlying CPOs (including CPOs represented by ADSs) will be voted by the CPO Trustee in accordance with instructions timely received from the holders thereof. In accordance with the terms of the Trust, the CPO Trustee will vote the B Shares held in the Trust for which no voting instructions have been received as the CPO Trustee may deem convenient, in cooperation with a technical committee appointed pursuant to the terms of the Trust.

Description of Voting Rights of Deposited Securities. Holders of ADSs generally have the right to instruct the Depositary to exercise the voting rights attributable to the Deposited Securities represented by such Holders’ ' ADSs. All holders of CPOs, including CPOs represented by ADSs, have the right to vote at meetings of CPO holders. However, the Estatutos and the agreement establishing the terms of the Trust pursuant to which CPOs are issued prohibit non-Mexican persons from directly holding or voting A Shares. The nationality of a holder of CPOs is established by reference to the information contained in the registry book for CPOs maintained by the CPO Trustee. Holders of ADSs are deemed to be non-Mexican nationals, and accordingly, Holders of ADSs do not have any right to instruct the Depositary to cause the CPO Trustee to vote the A Shares held in the Trust underlying the CPOs represented by ADSsTrust. Under the terms of the Trust, A Shares underlying CPOs (including CPOs represented by ADSs) held by non-Mexican nationals will be voted at each shareholders’ ' meeting by the CPO Trustee according to the votes cast by the majority of all A Shares held by Mexican nationals and B Shares voted at the meeting. Under the terms of the Deposit Agreement, Holders of ADSs may have the right to instruct the Depositary to cause the CPO Trustee to exercise the voting rights attributable to the B Shares at any time held in the Trust underlying the CPOs represented by the ADSsTrust. At each meeting of shareholders of the Companyshareholders, the B Shares underlying CPOs (including CPOs represented by ADSs) will be voted by the CPO Trustee in accordance with instructions timely received from the holders thereof. In accordance with the terms of the CPO Trust, the CPO Trustee will vote the B Shares held in the CPO Trust for which no voting instructions have been received as the CPO Trustee may deem convenient, in cooperation with with, and under the direction of, a technical committee appointed pursuant to the terms of the CPO Trust.