To:
NEXT Properties (Trust 2401)
Antonio Dovalí Jaime 70,
Torre A, Piso 11, Samara, Santa Fe Zedec, 01219
Mexico City, Mexico
c/o Global Bondholder Services Corporation,
65 Broadway – Suite 404
New York, New York 10006
Attn: Corporate Actions
Banks and Brokers call: (212) 430-3774
Toll free (855) 654-2014
Email: contact@gbsc-usa.com
Ladies and Gentlemen:
The undersigned acknowledges receipt of your letter dated October 8, 2026 (the "Letter"). Capitalized terms used, but not defined, in this letter shall have the meanings set forth in the Letter.
The undersigned hereby represents and warrants to Trust 2401, a trust formed under the laws of the United Mexican States (the "Company") as set forth in box 2(a) or 2(b) (please check one).
(1) It is the beneficial owner, or is acting on behalf of a beneficial owner, of the Existing Notes in the amount set forth below; and
(2) it is
(a) a "qualified institutional buyer," as defined in the Letter, that is acting for either (i) its own account or (ii) the accounts of other qualified institutional buyers, for which certification as qualified institutional buyers can be validated by a written certification received within the last six months, and as to which it exercises sole investment discretion and has the authority to make the statements in this letter; or
(b) a person outside the United States who is (i) not a "U.S. person," (as that term is defined in Rule 902 under the Securities Act), (ii) not acting for the account or benefit of a U.S. person and (iii) a "Non-U.S. qualified offeree" (as defined in the Letter).
If the undersigned has checked box 2(b) and is located or resident in, or is acting on behalf of a beneficial owner located or resident in, a Member State of the EEA or the UK, the undersigned further represents, warrants and agrees that: (i) it (and each such beneficial owner) is a qualified investor (as defined in the Prospectus Regulation or the UK Prospectus Regulation, as applicable) and is not a retail investor (as defined in the Letter); (ii) if located or resident in the UK, it (and each such beneficial owner) is also a relevant person (as defined in the Letter); (iii) it is not acting for the account or benefit of any retail investor in the EEA or the UK; (iv) it acknowledges that no key information document under the PRIIPs Regulation or the UK PRIIPs Regulation has been prepared in respect of the New Notes; and (v) it will not offer, sell, exchange or otherwise make available any New Notes to any retail investor in the EEA or the UK.
The undersigned understands that it is providing the information contained herein to the Company solely for purposes of the Company's consideration of transactions with respect to the Existing Notes. This letter is not an offer or a solicitation of an offer with respect to the Existing Notes and does not create any obligation whatsoever on the part of the Company to make any offer or on the part of the undersigned to participate if an offer is made.
The undersigned agrees (1) not to copy or reproduce any part of any materials (except as permitted therein) received in connection with any transaction that the Company may undertake or has undertaken, (2) not to distribute or disclose any part of such materials or any of their contents (except as permitted therein) to anyone other than, if applicable, the aforementioned beneficial owners on whose behalf the undersigned is acting (and in no event to any retail investor in the EEA or the UK) and (3) to notify the Company if any of the representations the undersigned makes in this letter cease to be correct. The undersigned acknowledges that the Company reserves the right to request any additional information or evidence it deems necessary for purposes of determining the undersigned’s eligibility (including its status as a qualified investor) to participate in the Offer, and to reject any Eligibility Certification or tender that does not comply with the eligibility requirements set out in the Letter.
Very truly yours,