Supplemental Operating and Financial Data Second Quarter 2017 Fibra Danhos

Parque Puebla

Table of Contents

Comments from our CEO 4

Fibra Danhos’ Financial Evolution Snapshot 6

Executive Summary 7

1. Financial Information of Fibra Danhos 9

2. Cash Distribution for the Second Quarter 2017 and CBFI Conciliation 10

3. Results 11

4. Operating Indicators 17

5. Current Operating Portfolio 21

6. Current Development Portfolio and Growth Plan 22

7. Portfolio 26

8. Glossary 27

Disclaimer This document may include forward-looking statements that may imply risks and uncertainties. Terms such as "estimate", "project", "plan", "believe", "expect", "anticipate", "intend", and other similar expressions could be construed as previsions or estimates. Fibra Danhos warns readers that declarations and estimates mentioned in this document, or realized by Fibra Danhos’ management imply risks and uncertainties that could change in function of various factors that are out Fibra Danhos´ control. Future expectations reflect Fibra Danhos’ judgment at the date of this document. Fibra Danhos’ reserves the right or obligation to update the information contained in this document or derived from this document. Past or present performance is not an indicator to anticipate future performance.

Fibra Danhos We are a Mexican trust formed primarily to develop, own, lease, operate, and acquire iconic and premier- quality commercial real estate assets in Mexico. Our objective is to provide attractive risk-adjusted returns to holders of our CBFIs over the long-term through stable cash distributions and the appreciation of our properties. We will seek to maintain and grow a high quality portfolio of properties, through our strong and unparalleled development capabilities and selective acquisitions of premier-quality and iconic properties. We consider properties to be iconic if they have the unique ability to transform the surrounding areas in which they are located, and we consider properties to be premier-quality if they are located in prime locations, were developed with high construction and design standards, feature quality tenants, report high occupancy rates and, in the case of retail properties, attract a high volume of visitors.

Investor Relations Contact Information

Elías Mizrahi Daniel Office: +52 (55) 5284 0030 ext.1024 Email: [email protected]

Earnings

Quarterly earnings releases will be published on the following dates:

Third Quarter, 2017 Tentatively, Tuesday, October 24th, 2017

Fourth Quarter, 2017 Tentatively, Tuesday, February 20th, 2018

First Quarter, 2018 Tentatively, Thursday, April 26th, 2018

Second Quarter, 2018 Tentatively, Thursday, July 26th, 2018

Stock Information

Ticker: DANHOS13 2Q17 2Q17 4Q16 3Q16 2Q16

Closing price (high) 33.46 31.60 35.02 36.47 38.84

Closing price (low) 31.16 29.67 29.90 33.19 32.81

Average closing price 32.68 31.00 32.91 34.51 35.55

Average daily trading volume 762,437 949,375 617,873 881,176 855,561 (CBFIs)

Issued CBFIs 1,518,764,772 1,518,764,772 1,518,764,772 1,541,245,024 1,541,245,024

Outstanding CBFIs (BMV) 1,410,535,841 1,406,235,133 1,403,663,796 1,398,521,997 1,417,933,793

CBFIs with economic rights 1,303,845,661 1,276,913,043 1,254,602,775 1,233,361,545 1,192,000,000

Market capitalization (millions of 46,082.2 43,593.3 44,061.0 49,269.9 47,160.5 pesos)

Analyst Coverage

Company Analyst E-mail

Barclays Pablo Monsivais [email protected]

BBVA Bancomer Francisco Chavez [email protected]

Bradesco BBI Luiz Mauricio Garcia [email protected]

Evercore ISI Sheila McGrath [email protected]

HSBCG Eduardo Altamirano [email protected]

J.P. Morgan Adrian Huerta [email protected]

Monex Roberto Solano [email protected]

MorganMo Stanley Nikolaj Lippmann [email protected]

Nau Securities Luis Prieto [email protected]

Santander Cecilia Jiménez [email protected]

UBS Marimar Torreblanca [email protected]

Comments from our CEO

“While commercial real estate in the United States is transforming and consolidating as a result of new consumption patterns, leading to the closure of B and C class malls that have been unable to attract consumers looking for shopping and entertainment experiences, the fundamentals of commercial real estate in Mexico City and other major cities in the country maintain its strength and dynamism, posting sound indicators on flow of visitors, sales and construction growth. The differentiation of our market cycle is explained both by demographics and cultural issues, and by urban infrastructure on security, logistics and technology issues that derive on higher demand for quality and convenient shopping centers. We believe that our commercial real estate assets are well positioned in the sector, recognized by its design, premium quality, location and the constant incorporation of innovative formats and services that secure a top of mind position among consumers.

During the quarter the flow of visitors on our retail properties grew 23% YoY, reaching 22.5 million visitors. Same property occupancy displayed a stable level at 98.4% and we posted growth and profitability figures. The Lease Spread during the quarter was 9.3% and for second consecutive quarter, it has grown above the average of the last two years. Parque Puebla, our recently completed fashion mall, will open its doors on September 26 with an attractive commercial and entertainment offer that includes the recent incorporation of a 10,000 sqm aquarium, a unique concept in the region. We will also have the opening of Liverpool in Toreo Parque Central, scheduled for October, which will help to further strengthen our property. On the office side we have focused on the leasing of Toreo office tower A, while several tenants have started operations in Torre Virreyes and in Toreo office towers B&C.

During the quarter we announced our third bond issuance that concluded on July 10 with a successful 10-year issuance of a 2.5 billion-peso bond with a fixed rate of 8.54%. We decided to advance this debt issuance to avoid possible volatility due to internal or external factors that may arise during the following quarters. Our DANHOS17 bond obtained the highest national scale rating and was well received by the investing community, as the transaction presented an oversubscription of 1.63x the issued amount. This new issue was placed with a margin over the Mbono 2027 of 169 bps, a decrease of 16 bps against the comparable issued last year at the same tenor. Proceeds are labeled primarily for the conclusion of the work in Parque Las Antenas and for the start of the works of our new project in the Northeast of Mexico City.

As a complement to our financing strategy, we also increased the amount and extended the term of our committed bank facility to 2 billion pesos through December 2020. We do not consider disposing in the short term, however this credit line provides flexibility and certainty in the event of investment and/or refinancing opportunities. Our capital structure including the new issue remains solid, with a leverage ratio of 11.2% and a debt service coverage ratio of approximately 6 times.

During the second quarter we generated 796 million pesos of AFFO, which represent 0.61 pesos per CBFI with economic rights. This figure compares with the 743 million pesos generated in the same period of 2016, which represented 0.62 pesos per CBFI with economic rights, a 7.1% increase in AFFO but a -2.1% decrease in AFFO per CBFI with economic rights, which increased 9.4% reaching 1,303.8 million. A transformation in the composition of our AFFO has been evidenced this year, with a lower contribution of Tenant Admission Payments and a greater contribution of stabilized long-term revenues, which is reflected in Net Operating Income, which reached 760 million pesos, with a YoY growth of 48%. Based on these figures, our Technical Committee approved a quarterly distribution of 0.57 pesos per CBFI, which implies a 7.5% increase compared to the 0.53 pesos distributed in 2Q16.

Our second quarter has been one of consolidation and implementation towards targets set for 2017. We will continue to monitor the evolution of factors affecting our operation and working during the second half of the year to stay on track. I take this opportunity to thank once again the confidence of our investors and the great efforts of our employees in achieving these results.”

Salvador Daniel Kabbaz Zaga CEO, Fibra Danhos

Fibra Danhos’ Financial and Operating Evolution Snapshot Note: Throughout this document, we are presenting financial and operating data for the second quarter of 2017 (“2Q17”) and for the second quarter of 2016 (“2Q16”) for Fibra Danhos, including data on the properties in our Current Development Portfolio, which we refer to as financial and operating data of “Fibra Danhos.” The financial data of Fibra Danhos for 2Q17, and 2Q16 derives from our consolidated financial statements. Our financial statements were prepared in conformance with the International Financial Reporting Standards (or “IFRS”) issued by the International Accounting Standards Board. The figures are expressed in Mexican pesos, unless otherwise indicated, and may vary due to rounding.

Key Financial Indicators Fibra Danhos Financial Indicators 2Q17 2Q16 Chg % 6M17 6M16 Chg % Total Revenues 974,118,422 673,869,971 44.6% 1,940,771,206 1,337,207,740 45.1% Net Operating Income 760,138,956 513,703,938 48.0% 1,521,830,240 1,036,138,143 46.9% EBITDA (inc. TAP) 622,927,253 394,782,027 57.8% 1,245,404,522 803,503,496 55.0% Net Income (inc. TAP) 648,280,808 2,823,906,992 -77.0% 1,172,790,531 3,324,397,016 -64.7% FFO (inc. TAP) 597,135,934 412,594,595 44.7% 1,207,952,522 842,078,787 43.4% AFFO 795,488,632 742,628,661 7.1% 1,548,867,327 1,402,962,902 10.4% Distribution to CBFI holders 743,192,027 631,760,000 17.6% 1,458,263,331 1,242,047,293 17.4% CBFIs with economic rights (ER) 1,303,845,661 1,192,000,000 9.4% 1,290,498,523 1,182,814,705 9.1% AFFO per CBFI with economic rights 0.6101 0.6230 -2.1% 1.2002 1.1861 1.2% Net Operating Income per CBFI with ER 0.5830 0.4310 35.3% 1.1793 0.8760 34.6% Distribution per CBFI with economic rights 0.5700 0.5300 7.5% 1.1300 1.0501 7.6% Non-distributed AFFO per CBFI with ER 0.0401 0.0930 -56.9% 0.0702 0.1360 -48.4% AFFO payout ratio 93.4% 85.1% 9.8% 94.2% 88.5% 6.3% Fibra Danhos As of June 30th Key Figures from our Balance Sheet 2017 2016 Chg. %/pb Cash and cash equivalents 1,051,892,720 736,254,871 42.9% Prepaid taxes, mainly VAT 107,731,066 322,096,033 -66.6% Investment properties 56,255,836,684 51,637,490,165 8.9% Total assets $ 57,903,828,593 $ 53,243,421,240 8.8% Total debt 4,000,000,000 - 0.0% Total liabilities $ 6,172,069,073 $ 1,793,901,988 244.1% Total stockholders´ equity $ 51,731,759,520 $ 51,449,519,252 0.5% 6.9% 0.0% 690.8 Loan to value

Key Operating Indicators

Fibra Danhos Operating Indicators 2Q17 2Q16 Chg %/bp Gross Leasable Area (000´ sqm) 692.9 592.1 17.0% Occupancy Rate - Total Properties 87.1% 89.3% - 220.8 Occupancy Rate - Same Properties 98.4% 97.2% 120.0 Average Monthly Fixed Rent per sqm $ 369.2 $ 364.8 1.2% Occupancy Cost 9.9% 9.0% 90.4 Renewal Rate 99.8% 98.8% 101.7 Tenant Sales - Total Properties (000´) $ 2,263,005 $ 1,700,413 33.1% Tenant Sales - Same Properties (000´) $ 577,487 $ 612,988 -5.8% Sales per sqm (quarterly) - Total Properties $ 10,250 $ 7,702 33.1% Sales per sqm (quarterly) - Same Properties $ 11,230 $ 11,921 -5.8% Flow of Visitors - Total Properties 22,536,566 18,267,302 23.4% Flow of Visitors - Same Properties 19,880,790 15,079,765 31.8% Delinquency Rate 0.71% 0.86% - 15.7 Rent Loss 0.20% 0.14% 5.4 Lease Spread 9.3% 4.2% 515.0

Distribution Fibra Danhos Distribution 2Q17 Distribution to CBFI holders $ 743,192,026.77 Distribution corresponding to net taxable income $ 243,507,822.93 Distribution corresponding to return of capital $ 499,684,203.84 Dividend declaration date July 25, 2017 Ex-Dividend Date August 4, 2017 Record Date August 8, 2017 Dividend payment date August 9, 2017

Executive Summary Note: All capitalized terms are defined in the "Glossary" section of this document or the Fibra Danhos Prospectus.

• During the quarter we generated 795.5 million pesos of AFFO that represent 0.61 pesos per CBFI with economic rights. This figure compares with 742.6 million generated in the second quarter of 2016 that represented 0.62 pesos per CBFI with economic rights, an increase of 7.1% in AFFO, and a decrease of -2.1% in AFFO per CBFI with economic rights, while growing the number of CBFIs with economic rights from 1,276.9 million to 1,303.8 million, or 9.4%.

• Net Operating Income (NOI) for the quarter amounted to 760.1 million pesos, posting a 48.0% growth during the year. The NOI per CBFI with economic rights was 0.58 pesos and represents an increase of 35.3% with respect to the NOI per CBFI with economic rights in 2Q16. This figure reflects a transformation in the composition of our AFFO, with a lower contribution of Tenant Admission Payments and a greater contribution of stabilized long- term revenues. Approximately 88% of our quarterly AFFO comes from NOI excluding Tenant Admission Payments.

• We collected Tenant Admission Payments for 117.8 million pesos during the quarter and 243.7 million pesos during the year, on track with our projection of 500 million pesos for 2017.

• Our Technical Committee determined a distribution of 0.57 per CBFI, which represents an increase of 7.5% with respect to the distribution of 0.53 pesos during 2Q16. The payout ratio was 93.4% of AFFO while reserving 54.0 million pesos in cash for our development projects.

• Parque Puebla is scheduled to open on September 26 with an attractive retail and entertainment proposition. We have reached an agreement to incorporate an aquarium in Parque Puebla. This new educational and entertainment concept will occupy an exhibition area of around 10,000 sqm and will offer a unique experience to our visitors.

• Parque Las Antenas reached an overall work progress of 80%. We have executed lease agreements and lease agreements in process of being executed for approximately 45% of its GLA and considering letters of intent we have an overall progress of 81%.

• Flow of visitors on our retail assets grew 23% from the previous year, reaching 22.5 million visitors during the quarter. Same property occupancy posted a stable level of 98.4%.

• Liverpool Toreo will open its doors on October. The NOI of the retail component of Toreo reached 78.5 million pesos during the quarter, received more than 3.3 million visitors and more than 530,000 vehicles.

• Torre Virreyes, which is leased at 100%, reported the start of operations from new tenants. Its NOI reached 108.5 million pesos the quarter and consequently 95% of CBFIs issued for the project were granted economic rights. To date, 78% of its GLA is under operation and paying rent and we expect to reach 100% towards the end of 3Q17.

• Towers B&C in Toreo reported the start of operations from new tenants. Its NOI reached 41.6 million pesos the quarter and to date 64% of its GLA is under operation and paying rent. During the next month 80% of its GLA will be under operation and paying rent. Toreo tower A is in the process of executing its first lease agreement for more than 2,000 sqm in the low-rise of the building. The hotel at Toreo registered an NOI of 12.4 million pesos. As a result 72% of CBFIs issued for the project were granted economic rights.

• The NOI of Vía Vallejo reached 47.9 million pesos during the quarter. We received more than 2.7 million visitors and more than 415,000 vehicles. To date, 95% of its GLA is under operation.

• On July 10 we successfully placed a 2.5 billion pesos bond issuance with a 10-year maturity and a fixed rate of 8.54%. Our DANHOS17 issuance was rated AAA on a national scale by Fitch and HR Ratings and was placed with a margin over the Mbono 2027 of 169 bps, a decrease of 16 bps against last year's comparable issuance. Proceeds are labeled primarily for the conclusion of the work at Parque Las Antenas and for the start of the work in our new project in the Northeast of Mexico city.

• Our committed bank facility amount was increased to 2 billion pesos and tenor was extended through December 2020.

1. Financial Information of Fibra Danhos 1.1 Consolidated Statement of Financial Position

Fibra Danhos As of June 30th Mexican Pesos 2017 2016 Assets Current assets Cash and cash equivalents 1,051,892,720 736,254,871 Accounts receivable and other 348,774,808 422,226,125 Accounts recievable due from related parties 690,926 54,517,451 Prepaid taxes, mainly VAT 107,731,066 322,096,033 Anticipated payments 111,525,904 69,395,839 Total current assets $ 1,620,615,424 $ 1,604,490,320 Non-current assets Investment properties 56,255,836,684 51,637,490,165 Technological platform 13,875,649 - Other assets 7,500,000 - Machinery and equipment 6,000,836 1,440,755 Total non-current assets $ 56,283,213,168 $ 51,638,930,920 Total assets $ 57,903,828,593 $ 53,243,421,240 Liabilities and stockholders' equity Current liabilities Accounts payable and acumulated expenses 40,651,361 111,200,766 Rents collected in advance 104,371,043 116,632,081 Accounts payable to related parties 175,946,530 136,221,252 Taxes payable 12,628,592 5,939,657 Interest payable 116,355,002 - Total current liabilities $ 449,952,529 $ 369,993,756 Non-current liabilities Security deposits 324,851,249 253,681,884 Tenant Admission Payments or deferred revenue 1,418,554,695 1,163,824,511 Outstanding certificates second assignment - - Employee benefits 8,448,799 6,401,838 Long term debt 3,970,261,801 - Total non-current liabilities $ 5,722,116,545 $ 1,423,908,232 Total liabilities $ 6,172,069,073 $ 1,793,901,988 Stockholders' equity Trustors' contributions 44,232,544,064 46,047,833,312 Consolidated net and comprehensive income 7,500,309,287 5,402,199,165 Labor Obligations (1,093,830) (513,225) Total stockholders´ equity $ 51,731,759,520 $ 51,449,519,252 Total liabilities and stockholders' equity $ 57,903,828,593 $ 53,243,421,240

1.2 Consolidated Income Statement

Fibra Danhos Mexican Pesos 2Q17 2Q16 Var. % 6M17 6M16 Var. % Base Rent 620,629,280 453,579,499 36.8% 1,234,234,225 894,645,384 38.0% Overage 52,544,070 21,145,683 148.5% 97,648,343 45,000,063 117.0% Tenant Admission Payments 58,356,255 27,327,008 113.5% 147,863,392 50,217,823 194.4% Parking 85,802,844 65,894,375 30.2% 169,119,892 133,626,072 26.6% Maintenance, operation, advertising and other 156,785,973 105,923,407 48.0% 291,905,355 213,718,398 36.6% Total operating revenues $ 974,118,422 $ 673,869,971 44.6% $ 1,940,771,206 $ 1,337,207,740 45.1%

Maintenance, operation, advertising and other expenses 155,701,518 112,830,797 38.0% 294,563,533 206,656,546 42.5% Advisory Fee 133,820,456 116,437,183 14.9% 266,259,568 225,757,221 17.9% Leasing Administration Fee 19,625,514 19,649,889 -0.1% 42,299,413 38,919,237 8.7% Non-related third party fees and other non-operating expenses 3,391,246 2,484,728 36.5% 10,166,151 6,877,427 47.8% Property tax 31,213,834 21,449,244 45.5% 67,265,967 42,903,515 56.8% Insurance 7,438,600 6,236,102 19.3% 14,812,052 12,590,299 17.6% Total operating expenses $ 351,191,169 $ 279,087,943 25.8% $ 695,366,685 $ 533,704,245 30.3% Interest income 11,115,095 7,467,321 48.8% 34,273,371 22,596,986 51.7% Interest expense 24,837,298 91,772 26964.0% 49,004,237 193,884 25175.0% Exchange rate gain - net (21,204,547) 52,899,891 -140.1% (84,394,805) 49,665,400 -269.9% Income taxes from the subsidiary - - 0.0% - - 0.0% Adjustments to fair value of Investment Properties - net 60,280,304 2,368,849,525 -97.5% 26,511,681 2,448,825,019 -98.9% Net Income $ 648,280,808 $ 2,823,906,992 -77.0% $ 1,172,790,531 $ 3,324,397,016 -64.7%

2. Cash Distribution for the First Quarter 2017 and CBFI Conciliation Fibra Danhos posted a quarterly AFFO of 795.5 million pesos, which represent an AFFO per CBFI of 0.61 pesos. This figure represents a decrease of -2.1% with respect to 2Q16. The NOI per CBFI with economic rights reached 0.58 pesos, which represents a 35.8% increase with respect to 2Q16. Approximately 88% of our quarterly AFFO comes from NOI excluding Tenant Admission Payments. We have increased the number of CBFIs with economic rights from 1,192 million to 1,303.8 million, which represents a 9.4% increase. Our Technical Committee determined a distribution of 0.57 per CBFI, which represents an increase of 7.5% with respect to the distribution of 0.53 pesos during 2Q16. We expect to maintain a stable and growing dividend trend. Fibra Danhos Per CBFI with economic rights 2013 2014 2015 2016 2017 % YoY AFFO - 0.49 0.51 0.56 0.59 4.9% 1Q Distribution - 0.44 0.48 0.52 0.56 7.7% AFFO - 0.47 0.58 0.62 0.61 -2.1% 2Q Distribución - 0.44 0.49 0.53 0.57 7.5% AFFO - 0.59 0.52 0.64 3Q Distribution - 0.45 0.50 0.54 AFFO 0.36 0.46 0.55 0.66 4Q Distribución 0.37 0.45 0.51 0.54 AFFO 0.36 2.00 2.16 2.48 - Total Distribution 0.37 1.78 1.98 2.13 - Of the total cash distribution, 243.5 million pesos correspond to 100% of the taxable income of Fibra Danhos, and 499.7 million pesos correspond to a return of capital. The following table shows an itemization of the CBFIs with and without Economic Rights:

CBFI Conciliation As of June 30th, 2017 As of March 31st, 2017 Change Issued CBFIs as of June 30th, 2017 1,518,764,772 1,518,764,772 - CBFIs with economic rights 1,303,845,661 1,276,913,043 26,932,618 Initial Operating Portfolio CBFIs 604,372,398 604,372,398 - Initial Public Offering CBFIs (excluding overallotment option) 200,000,000 200,000,000 - Executed overallotment option CBFIs 9,802,520 9,802,520 - Toreo CBFIs with economic rights 206,507,122 194,261,317 12,245,805 Virreyes CBFIs with economic rights 200,537,524 189,982,918 10,554,606 CBFIs to be used as payment for plots of land for Parque Puebla 14,712,490 14,712,490 - CBFIs used as payment for advisory fee* 36,848,669 32,716,462 4,132,207 Vía Vallejo CBFIs with economic rights 31,064,938 31,064,938 - CBFIs without economic rights 214,919,111 241,851,729 (26,932,618) Toreo CBFIs without economic rights 81,285,231 93,531,036 (12,245,805) Torre Virreyes CBFIs with economic rights 10,554,607 21,109,213 (10,554,606) Vía Vallejo CBFIs without economic rights (payment) 23,243,000 23,243,000 - Vía Vallejo CBFIs without economic rights (adjustment) 41,634,942 41,634,942 - Issued CBFIs to be used for future advisory fee payments 48,201,331 52,333,538 (4,132,207) Issued CBFIs to be used for future contributions 10,000,000 10,000,000 - * Includes 4,132,207 CBFIs to be delivered to the Advisor as payment for the Advisory Fee for the second quarter of 2017 according to the authorization of our Technical Committee.

3. Earnings Note: All terms in capital letters are defined in section “Glossary” of this document or in the Offering Memorandum of Fibra Danhos. 3.1 Operating Revenue Total operating revenue: Amounted to 974.1 million pesos in 2Q17, which represents an increase of 44.6% with respect to 2Q16. In addition, the 2Q17 same property growth was 12.6%. The increase in total revenues was mainly driven by the incorporation of Vía Vallejo, office towers B&C and the hotel of Toreo to our Current Operating Portfolio. Total Operating Revenue Breakdown Total revenue breakdown 2Q17 2Q16 Base Rent 63.7% 67.3% Overage 5.4% 3.1% TAP 6.0% 4.1% Parking 8.8% 9.8% Maintenance, Operation, Advertising and Other 16.1% 15.7% Total revenue 100.0% 100.0%

Base Rent: Amounted to 620.6 million pesos in 2Q17, which represents an increase of 36.8% with respect to 2Q16. In addition, the 2Q17 same property growth was 13.2%, primarily due to the occupancy increases in Parque Esmeralda and Parque Virreyes. Furthermore, the office component in Torre Virreyes and Reforma 222 increased given that most of their GLA is leased in US Dollars. Monthly average Base Rent revenue per sqm reached 369.2 pesos per sqm in 2Q17, which represents an annual variation of 1.2% with respect to the 364.8 pesos per sqm reported in 2Q16.

Overage: Amounted to 52.5 million pesos during 2Q17, which represents an increase of 148.5% with respect to 2Q16. We observed important Overage increases in Parque Delta, Parque Tezontle and Vía Vallejo primarily because of stronger store sales and flow of visitors and the incorporation of the hotel of Toreo to our Current Operating Portfolio.

Fibra Danhos´ Base Rent and Overage

Fibra Danhos Property 2Q17 2Q16 Chg. % 6M17 6M16 Chg. % Parque Alameda 9,982,473 9,758,482 2.3% 19,877,342 19,520,316 1.8% Parque Duraznos 16,492,770 14,737,344 11.9% 29,872,489 29,189,237 2.3% Parque Esmeralda 28,719,158 26,168,203 9.7% 58,305,542 52,336,405 11.4% Parque Lindavista 59,950,634 54,890,588 9.2% 119,052,488 110,710,489 7.5% Reforma 222 Retail 27,497,450 55,758,685 7.9% 56,395,093 5.2% 114,122,521 Reforma 222 Office 31,836,577 67,386,813 Parque Tezontle 78,186,455 63,566,376 23.0% 152,756,632 129,236,843 18.2% Toreo Retail 74,017,655 75,747,857 -2.3% 148,742,592 149,273,693 -0.4% Urbitec 12,399,942 10,905,984 13.7% 24,407,390 21,722,246 12.4% Parque Virreyes 9,827,074 6,908,438 42.2% 18,929,634 14,156,120 33.7% Same Properties $ 348,910,188 $ 319,078,364 9.3% $ 695,089,606 $ 640,267,871 8.6% Parque Delta 98,939,250 42,050,782 135.3% 188,681,535 91,173,252 106.9% Parque Via Vallejo 55,246,581 15,053,929 267.0% 110,372,935 15,053,929 633.2% Toreo Office B&C 41,859,273 12,128,175 245.1% 81,832,013 22,612,345 261.9% Toreo Hotel 12,660,180 - NA 24,296,515 - NA Torre Virreyes 112,129,500 86,413,931 29.8% 228,181,587 170,538,051 33.8% Total Properties $ 669,744,972 $ 474,725,182 41.1% $ 1,328,454,191 $ 939,645,448 41.4% (1) The difference between the consolidated and per property Fixed and Variable Rent is due to invoiced revenues during the quarter which correspond to other periods.

Cash inflow from Tenant Admission Payments: We collected 117.8 million pesos during 2Q17 mainly from Parque Puebla, Parque Las Antenas, Parque Lindavista and Parque Tezontle. Accounting revenue from Tenant Admission Payments: Amounted 58.3 million pesos in 2Q17 and represents an increase compared to the 27.3 million pesos reported in 2Q16, primarily because of the amortization of TAP´s collected in prior periods from the expansions in Parque Delta and Parque Tezontle. Parking revenue: Amounted to 85.8 million pesos during 2Q17, which represents an increase of 30.2% with respect to 2Q16. This performance is mainly due to an increase in parking tariffs on some of our shopping centers as well as an increase in the flow of vehicles, especially in Parque Delta, Parque Tezontle and Torre Virreyes, as well as the incorporation of Vía Vallejo to our Current Operating Portfolio. Maintenance, operation, advertising and other revenue: Amounted to 156.7 million pesos in 2Q17, which represents an increase of 48.0% with respect to 2Q16. In addition, the 2Q17 same property growth was 15.5%.

3.2 Operating Expenses Operation, maintenance and advertising expenses: Amounted to 155.7 million pesos in 2Q17, which represents an increase of 38.0% with respect to 2Q16. This variation is mainly due to the recognition of the expenses of Parque Vía Vallejo, Toreo´s office towers B&C and hotel, and the expansions of Parque Tezontle and Delta. Advisory Fees and Leasing Administration Fees: Amounted to $133.8 and 19.6 million pesos in 2Q17, which represent variations of 14.9% and -0.1% respectively, when compared to 2Q16. 4,132,207 CBFIs will be delivered to our Advisor corresponding to the accrued unpaid fees for 2Q17.

Advisory Fees Period 2Q17 Adjusted fees as of June 30th, 2017 133,820,456 Period´s VWAP of the CBFI 32.3847 CBFIs pending delivery 4,132,207 Advisory CBFIs delivered as of June 30th, 2017 36,848,669 Issued CBFIs to be used for future advisory fee payments 48,201,331 In accordance with the Advisory Agreement, for the Advisory’s payment for the 2Q17, the unit value for the CBFI was determined as the volume weighted average of the daily trading price from April 1st, 2017 to June 30th, 2017. The increase in the Advisory Fee is in accordance with the Advisory Agreement and includes Toreo´s office towers A, the hotel and Parque Delta’s expansion in the asset base for the calculation, which were accounted for at appraisal value and were not considered for the calculation at appraisal value during 2Q16. Property Tax and Insurance: Amounted to 31.2 million pesos and 7.4 million pesos, which represent variations of 45.5% and 19.3%, respectively, with respect to 2Q16. In the case of property taxes, the increase is mainly due for the incorporation of Toreo´s tower A, the hotel in Toreo and Parque Vía Vallejo and an increase in tariffs for the calculation. In the case of insurance expenses, the increase was mainly the result of the inclusion of Parque Via Vallejo, Toreo´s office tower A and hotel and the expansions in Parque Delta as well as the volatility in the exchange rate given that our premiums are quoted in US Dollars. 3.3 NOI, EBITDA, Net Income, FFO and AFFO Net Operating Income: Amounted to 760.1 million pesos in 2Q17, which represents an increase of 48.0% with respect to 2Q16, this increase is mainly explained by the inclusion of Toreo´s office towers B&C and hotel and Parque Via Vallejo to the Current Operating Portfolio and the stabilization of Torre Virreyes and the expansion in Parque Tezontle and Parque Delta. Same property NOI growth was 9.2% during the quarter.

Net Operating Income

Fibra Danhos Mexican Pesos 2Q17 2Q16 Chg. %/pb 6M17 6M16 Chg. %/pb Base Rent 620,629,280 453,579,499 36.8% 1,234,234,225 894,645,384 38.0% Overage 52,544,070 21,145,683 148.5% 97,648,343 45,000,063 117.0% Tenant Admission Payments 58,356,255 27,327,008 113.5% 147,863,392 50,217,823 194.4% Parking 85,802,844 65,894,375 30.2% 169,119,892 133,626,072 26.6% Maintenance, operation, advertising and other 156,785,973 105,923,407 48.0% 291,905,355 213,718,398 36.6% Total operating revenues $ 974,118,422 $ 673,869,971 44.6% $ 1,940,771,206 $ 1,337,207,740 45.1% Operation, maintenance, advertising and other 155,701,518 112,830,797 38.0% 294,563,533 206,656,546 42.5% Leasing Administration Fee 19,625,514 19,649,889 -0.1% 42,299,413 38,919,237 8.7% Property tax 31,213,834 21,449,244 45.5% 67,265,967 42,903,515 56.8% Insurance 7,438,600 6,236,102 19.3% 14,812,052 12,590,299 17.6% Total operating expenses (1) $ 213,979,466 $ 160,166,032 33.6% $ 418,940,966 $ 301,069,597 39.2% Net Operating Income (inc. TAP) $ 760,138,956 $ 513,703,938 48.0% $ 1,521,830,240 $ 1,036,138,143 46.9% NOI margin (inc. TAP) 78.0% 76.2% 180 78.4% 77.5% 93 Net Operating Income (exc. TAP) $ 701,782,701 $ 486,376,930 44.3% $ 1,373,966,848 $ 985,920,321 39.4% NOI margin (exc. TAP) 76.6% 75.2% 141 76.6% 76.6% 3 (1) Excludes the Advisory Fee and non-related third party fees

Net Operating Income by property

Fibra Danhos Property 2Q17 2Q16 Chg. % 6M17 6M16 Chg. % Parque Alameda 9,161,492 9,302,545 -1.5% 18,166,374 18,613,931 -2.4% Parque Duraznos 20,129,681 18,653,333 7.9% 36,852,396 35,572,921 3.6% Parque Esmeralda 27,046,953 24,506,793 10.4% 54,174,703 48,042,031 12.8% Parque Lindavista 76,775,571 73,096,729 5.0% 160,516,034 146,405,017 9.6% Reforma 222 Retail 33,119,231 65,765,816 61,176,569 1.3% 121,614,067 6.8% Reforma 222 Office 28,872,654 64,085,897 Parque Tezontle 107,022,984 84,590,594 26.5% 214,358,040 145,630,759 47.2% Toreo Retail 78,544,648 80,230,683 -2.1% 159,009,582 161,756,061 -1.7% Urbitec 11,916,340 10,070,465 18.3% 22,933,702 20,030,188 14.5% Parque Virreyes 9,366,806 6,309,299 48.5% 17,369,943 12,683,356 37.0% Same Properties $ 401,956,361 $ 367,937,010 9.2% $ 813,232,487 $ 710,348,331 14.5% Parque Delta 149,978,883 57,079,836 162.8% 309,995,984 104,256,937 197.3% Parque Via Vallejo 47,932,460 5,021,497 854.5% 89,446,844 5,021,497 1681.3% Toreo Office B&C 41,578,698 8,712,573 377.2% 74,537,106 16,517,175 351.3% Toreo Hotel 12,378,869 - NA 23,475,496 - NA Torre Virreyes 108,507,437 76,109,017 42.6% 220,291,753 152,639,035 44.3% Total Properties $ 762,332,709 $ 514,859,934 48.1% $ 1,530,979,670 $ 988,782,975 54.8% (1) The difference between the consolidated NOI and the total NOI by property in 2Q17, 2Q16, 6M17 and 6M16 is due to invoiced revenues that correspond to other periods and expenses that are not related with the Current Operating Portfolio shown above.

EBITDA: Amounted to 622.9 million pesos in 2Q17, which represents an increase of 57.8%. The EBITDA margin was 63.9%, higher than the 58.6% margin reported in 2Q16. EBITDA

Fibra Danhos Mexican Pesos 2Q17 2Q16 Change % / bp 6M17 6M16 Change % / bp Base Rent 620,629,280 453,579,499 36.8% 1,234,234,225 894,645,384 38.0% Overage 52,544,070 21,145,683 148.5% 97,648,343 45,000,063 117.0% Tenant Admission Payments 58,356,255 27,327,008 113.5% 147,863,392 50,217,823 194.4% Parking 85,802,844 65,894,375 30.2% 169,119,892 133,626,072 26.6% Maintenance, operation, advertising and other 156,785,973 105,923,407 48.0% 291,905,355 213,718,398 36.6% Total operating revenues $ 974,118,422 $ 673,869,971 44.6% $ 1,940,771,206 $ 1,337,207,740 45.1% Maintenance, operation, advertising and other 155,701,518 112,830,797 38.0% 294,563,533 206,656,546 42.5% expenses Advisory Fee 133,820,456 116,437,183 14.9% 266,259,568 225,757,221 17.9% Leasing Administration Fee 19,625,514 19,649,889 -0.1% 42,299,413 38,919,237 8.7% Non-related third party fees and other non- 3,391,246 2,484,728 36.5% 10,166,151 6,877,427 47.8% operating expenses Property tax 31,213,834 21,449,244 45.5% 67,265,967 42,903,515 56.8% Insurance 7,438,600 6,236,102 19.3% 14,812,052 12,590,299 17.6% Total operating expenses $ 351,191,169 $ 279,087,943 25.8% $ 695,366,685 $ 533,704,245 30.3% EBITDA (inc. TAP) $ 622,927,253 $ 394,782,027 57.8% $ 1,245,404,522 $ 803,503,496 55.0% EBITDA margin (inc. TAP) 63.9% 58.6% 536 64.2% 60.1% 408 EBITDA (exc. TAP) $ 564,570,998 $ 367,455,019 53.6% $ 1,097,541,130 $ 753,285,673 45.7% EBITDA margin (exc. TAP) 61.7% 56.8% 482 61.2% 58.5% 268 Net Income, FFO and AFFO: Amounted to 648.2 million pesos, 597.1 million pesos, and 795.5 million pesos, respectively, in 2Q17. FFO & AFFO Conciliation Fibra Danhos Mexican Pesos 2Q17 2Q16 6M17 6M16 Net Income 648,280,808 2,823,906,992 1,172,790,531 3,324,397,016 Exchange rate gain - net (9,135,430) 42,462,872 (61,673,671) 33,493,210 Adjustments to fair value of 60,280,304 2,368,849,525 26,511,681 2,448,825,019 investment properties - Net FFO $ 597,135,934 $ 412,594,595 $ 1,207,952,522 $ 842,078,787 Capital Expenditures - (1,423,945) - (2,794,711) Net Tenant Admission Payments 59,511,580 201,665,607 95,804,555 357,526,957 Net anticipated rents (27,355,555) (8,019,599) 54,310,068 41,301,697 Net straight-line effect (6,305,200) (6,245,513) (3,345,383) (8,606,526) Net property tax and insurance 39,497,858 27,674,936 (79,368,140) (57,907,522) unaccrued Net Advisory and Leasing Admin. Fee 133,004,014 116,382,579 273,513,706 231,364,220 AFFO $ 795,488,632 $ 742,628,661 $ 1,548,867,327 $ 1,402,962,902

Fibra Danhos reached an AFFO of 795.5 million pesos, which represent into an AFFO per CBFI with economic rights of 0.61 pesos and represents a -2.1% decrease with respect to 2Q16. Our distribution per CBFI with economic rights was 0.57 pesos per CBFI, increasing 7.5% with respect to the distribution of 2Q16.

3.4 Debt (note: the information includes the issuance made on July 10, 2017) 1. DANHOS 16: 3,000,000,000.00 (three billion 00/100 Mexican pesos) with a fixed nominal rate issued for a 10-year period with a 7.80% coupon rate (Mexican 10-year bond yield + 185 basis points). 2. DANHOS 16-2: 1,000,000,000.00 (one billion 00/100 Mexican pesos) with a floating rate issued for a 3.5-year period with a TIIE28 + 65 basis points coupon rate. 3. DANHOS 17: 2,500,000,000.00 (two thousand five hundred million 00/100 mexican pesos) with a fixed nominal rate issued for a 10-year period with an 8.54% coupon rate (Mexican 10-year bond yield + 169 basis points).

Debt Institution / Issuance Currency Interest Rate Issuance Maturity Tenor (years) Balance Bonds Local (DANHOS 16) MXN Fixed 7.80% 11-Jul-16 29-Jun-26 8.96 $ 3,000,000,000 Bonds Local (DANHOS 16-2) MXN Variable TIIE + 0.65% 11-Jul-16 23-Dec-19 2.45 $ 1,000,000,000 Bonds Local (DANHOS 17) MXN Fixed 8.54 10-Jul-17 28-Jun-27 9.96 $ 2,500,000,000 Avg. 8.12% Avg. 8.34 $ 6,500,000,000

On July 10, 2017, we successfully conducted our third long-term debt issuance of trust certificates (DANHOS 17) in the Mexican debt market for 2.5 billion pesos. The deal was made through a nominal 10-year fixed rate issue, which was placed with an 8.54% coupon rate and was rated AAA by Fitch Ratings & HR Ratings on a national scale. The transaction presented an oversubscription of 1.63x the issued amount, with a strong demand and acceptance by different groups of investors and was placed with a 169 basis point spread, 16 basis points below the nominal 10-year fixed rate issue DANHOS 16 on July 7, 2016.

Including our third issuance, the rate of our debt issuance is 85% fixed and 15% floating. The whole amount was issued in pesos, the average weighted maturity of the debt is 8.34 years and our average cost of debt was 8.12% as of July 25, 2017.

The following table shows information regarding compliance with the financial covenants of the debt:

Covenants Fibra Danhos Limit Status Loan to Value (total debt/total assets) 11.2% 50% OK Secured debt limit 0 40% OK Debt service coverage ratio (AFFO) 6.03x 1.5x min OK Unencumbered assets to unsecured debt 882% 150% OK

3.5 Leverage and Debt Service Coverage Index (CNBV) Leverage (millions): �� + �� = ��

6,500 �� = = 11.2% 57,903.8

Note: The calculation includes the third bond issuance for 2.5 billion pesos. Where: Financing: Aggregate amount corresponding to any credit facility, loan or financing pursuant to which the issuer has the obligation to pay, with charge to its equity, principal and, if applicable, any financial accessories related to the resources received. Publicly traded debt: Value of the outstanding bonds (“Certificados Bursátiles”) issued by the issuer, with charge to its equity. Total assets: Sum of all asset items that are part of the issuer’s state of financial position prepared under International Financial Reporting Standards (“IFRS”).

Debt service coverage index (“ICDt”) (figures in million pesos)1:

! ! ��0 + !!! �� + !!! �� + ��0 �� = ! ! ! ! !!! �� + !!! �� + !!! �� + !!! ��

1,051.9 + 102.1 + 1,934.5 + 2,000 �� = = 1.99 527.7 + 0 + 29.7 + 2,000

Where: AL0 = Liquid assets as of the end of the second quarter of 2017, including cash and investment in securities, but excluding restricted cash. IVAt = Value added tax expected to be reimbursed during quarter t. UOt = Estimated operating income after the payment of distributions during quarter t. Operating income is defined as the result of the following: (+) Base rent revenue (+) Overage revenue (+) Revenue from tenant admission payments (+) Parking revenue (+) Maintenance, operation, advertising and other revenue (-) Operation and maintenance expenses (-) Advisory fee (-) Leasing administration fee

1 It is worth noting that the debt service coverage index includes projections of accounting figures earned over time (for example, revenue from Tenant Admission Payments) and projections of figures on a cash basis (for example, the payment of distributions). The information presented hereby is based on estimates calculated by the Management Subsidiary of Trust number F/17416-3 (“Fibra Danhos”) based only on information available at this time. With regard to the estimates, the results may vary due to the fact that such estimates are subject to a series of risks, assumptions and situations outside of our control. We hereby advise that an important number of factors may cause the actual results to materially differ from the estimates, plans, objectives, expectations and intentions herein stated.

(-) Non-related fourth party professional fees (-) Property tax (-) Insurance LR0 = Existing, irrevocable and not withdrawn revolving credit lines as of the end of the first quarter of 2017. It = Estimated payment of interest related to financings during quarter t. Pt = Scheduled principal amortizations related to financings during quarter t. Kt = Estimated recurring capital expenditures during quarter t. Dt = Estimated non-discretionary development expenses during quarter t. Non-discretionary development expenses are defined as those investments that have been announced and that are in execution as of the end of the second quarter of 2017. t = 3Q17, 4Q17, 1Q18, 2Q18, 3Q18, 4Q18

4. Operating Indicators Note: All terms in capital letters are defined in section “Glossary” of this document or in the Offering Memorandum of Fibra Danhos. 4.1 Tenant Sales (same properties and total properties) Our most significant institutional retail tenants in terms of GLA and Fixed Rent that reported sales by contractual obligation (“Tenant Sales”) represented approximately 54.4% of our retail GLA in the Current Operating Portfolio during 2Q17. Tenant Sales (same properties) in 2Q17 decreased 5.8% with respect to 2Q16. This growth compares against the 5.5% growth recorded in same store sales (department stores) by the Asociación Nacional de Tiendas Departamentales y de Autoservicio (“ANTAD”)—an association comprised of a broad range of retail chains and department stores. Tenant sales (total properties) rose 33.1% in respect to 2Q16. Tenant Sales (same properties and total properties) Commercial and Mixed Use Properties of the Current Operating Portfolio Property 2Q17 2Q16 Chg. % Parque Alameda 25,702,295 27,316,906 -5.9% Parque Duraznos 61,516,514 60,876,334 1.1% Parque Lindavista 269,022,347 286,407,325 -6.1% Reforma 222 221,245,406 238,387,848 -7.2% Subtotal (same properties) $ 577,486,562 $ 612,988,414 -5.8% Parque Delta 751,554,044 449,888,305 67.1% Parque Tezontle 349,470,159 270,670,496 29.1% Toreo Parque Central 360,330,580 316,295,254 13.9% Parque Vía Vallejo 224,163,395 50,570,815 343.3% Total (total properties) $ 2,263,004,740 $ 1,700,413,284 33.1% Initial Operating Portfolio 2Q17 2Q16 Var. % sqm of GLA 51,421.72 51,421.72 0.0% Sales per sqm (quarterly) $ 11,230 $ 11,921 -5.8%

Current Operating Portfolio 2Q17 2Q16 Var. % sqm of GLA 220,789.28 220,789.28 0.0% Sales per sqm (quarterly) $ 10,250 $ 7,702 33.1% The increase in the Tenant Sales (total properties) is primarily explained by the stabilization of the expansions in Parque Delta and Parque Tezontle, which led to a higher sales volume. We also observed an important increase in Toreo Parque Central derived from the operation revenue coming from the hotel. Tenant Sales in Parque Alameda, Parque Lindavista and Reforma 222 decreased because of external factors. In the case of Reforma 222, flow of traffic was affected on surrounding streets that were locked down as a result of public work in Zona Rosa neighborhood. In Parque Lindavista, the incorporation of new public transportation routes have partially blocked access to our shopping mall, so we are working on improving traffic flow.

4.2 Occupancy rate, Delinquency Rate, Rent Loss, Turnover and Flow of Visitors The occupancy rate (same properties) of our Current Operating Portfolio at the end of 2Q17 was 98.4%, which represents an increase of 120 bps compared with the 97.2% reported at the end of 2Q16. The occupancy rate (total properties) in our Current Operating Portfolio at the end of 2Q17 was 87.1%, which represents a decrease of 220 bps compared with the reported 89.3% at the end of 2Q16. Once we reach a stabilization level at Toreo available office spaces, we expect the occupancy rate will reach a 97% level The number of visitors (total properties) to our commercial properties and to the retail components of our mixed-use properties was approximately 22.5 million in 2Q17, which represents a variation of 23.4% in respect to 2Q16. This increase is explained primarily by the inclusion of Parque Via Vallejo into the Current Operating Portfolio and the stabilization of the expansion in Parque Tezontle and Parque Delta. These last two shopping centers received 5.3 million and 5.2 million visitors and represent increases of 20.2% and 36.7% when compared to 2Q16. Occupancy Cost for our most significant institutional retail tenants in terms of GLA and Fixed Rent (cost incurred associated to occupying a premise, which consists of Base Rent, Variable Rent, common area maintenance and advertising fees, expressed as a percentage of the corresponding Tenant Sales) was 9.9% in 2Q17, higher than the 9.0% reported in 2Q16. In this same period, the Renewal Rate (result of dividing the gross leasable area of premises that were renewed in a given period, by the total gross leasable area of the portfolio) increased from 98.8% in 2Q16 to 99.8% in 2Q17. The Delinquency Rate (rental payment delayed beyond 60 days as a percentage of the annualized Base Rent of the respective period) at the properties in our Initial Operating Portfolio was 0.71% in 2Q17, lower than the 0.86% reported in 2Q16. Rent Loss (rental payment delayed beyond 180 days as a percentage of annualized Base Rent of the respective period) reached 0.20% in 2Q17, increasing 5.4 bps with respect to 2Q16. Operating Indicators 2Q17 2Q16 Chg. %/bp Occupancy Rate - Total Properties 87.1% 89.3% -221 Occupancy Rate - Same Properties 98.4% 97.2% 120 Flow of Visitors - Total Properties 22,536,566 18,267,302 23.4% Flow of Visitors - Same Properties 19,880,790 15,079,765 31.8% Occupancy Cost 9.9% 9.0% 90 Turnover 99.8% 98.8% 102 Delinquency Rate 0.71% 0.86% -16 Rent Loss 0.20% 0.14% 5

4.3 Tenant Diversification As of June 30th, 2017, we had approximately 1,351 separate lease agreements with tenants operating a wide range of businesses, including department stores, entertainment, food, electronics and communications, specialty stores, media and financial services, among others. We have a strong track record of actively managing the business to ensure a diversified mix of top quality tenants, including the introduction of new brands to Mexico. The following chart shows the distribution of GLA in the retail properties and retail components of our mixed-use properties in our Current Operating Portfolio by type of business of our tenants as of June 30th, 2017:

GLA distribution of our retail tenants by type of business

Services Accesories, Jewelry and 10% Optics 8% Health and Beauty 2% Food 12%

Clothing and Footwear 28%

Department Stores 18% Home and Decoration Electronics and 2% Specialty Entretainment Comunications 3% 16% 1% As of June 30th, 2017, our ten largest tenants in terms of Base Rent represented approximately 25.9% of Base Rents and approximately 43.4% of the occupied GLA of our Current Operating Portfolio, with no single tenant accounting for more than 4.2% of Base Rents or 7.4% of the occupied GLA attributable to our Current Operating Portfolio. The following table shows information regarding the ten largest tenants of our properties based on monthly Base Rent as of June 30th, 2017:

Occupied GLA (sqm) Percentage of Total Monthly Base Rent Percentage of Total Tenant Type Occupied GLA Monthly Base Rent Department store, retail & clothing 47,453 7.9% $ 7,093,218 3.2% Department stores, telecommunications, financial 38,705 6.4% $ 6,548,384 2.9% services and specialty retail Retail clothing 34,530 5.7% $ 9,030,005 4.1% Specialty retail, financial services and 34,000 5.6% $ 9,564,187 4.3% communications business Lodging 27,812 4.6% $ 1,868,667 0.8% Entretainment 23,032 3.8% $ 2,741,440 1.2% Telecommunications 17,699 2.9% $ 5,983,684 2.7% Restaurants 14,469 2.4% $ 6,239,438 2.8% Retail clothing 12,640 2.1% $ 5,181,546 2.3% Retail clothing, sports equipment and gyms 11,751 1.9% $ 3,428,527 1.5% Total 262,092 43.4% $ 57,679,095 25.9% * The rents in the table above are contractual rents, not the invoiced rents during March 2017.

4.4 Lease Expirations, Leasing Activity and Lease Spread in our Current Operating Portfolio The following table includes information with respect to the expiration of lease agreements in our Current Operating Portfolio as of June 30th, 2017:

Lease Number of Square Meters Percentage of Annualized Base Rent Percentage of Annualized Monthly expiration Expiring of Expiring Property of Expiring Leases (4) Property Annualized Base Rent (Ps./m2) year (1) Leases Leases (2) Leased Square (Ps.) Base Rent of Expiring Meters Leases

2017 235 64,214 10.6% $ 290,759,037 10.9% $ 377.3 2018 275 66,712 11.1% $ 351,271,301 13.1% $ 438.8 2019 321 49,062 8.1% $ 304,838,068 11.4% $ 517.8 2020 163 95,543 15.8% $ 490,127,268 18.3% $ 427.5 2021 198 79,073 13.1% $ 397,225,171 14.9% $ 418.6 Beyond 140 245,914 40.8% $ 824,055,769 30.8% $ 279.2 Indefinte (3) 19 2,835 0.5% $ 14,551,492 0.5% $ 427.8 Total 1,351 603,354 100.0% $ 2,672,828,106 100.0% $ 369.2 (1) Some contracts begin when the leasable area is given to the tenant, which might be different from the date the lease contract is signed; this might result in an effective date of the lease termination and that disclosed in the contract. (2) Makes reference to the leasable area (3) Lease contracts the are generating rent event though the ending date shown in it, is prior to June 30th, 2017. (4) Annualized rent means the contractual Base Rent as of June 30th, 2017 times 12. As of June 30th, 2017, the GLA-weighted average remaining life of the lease agreements in the properties of our Current Operating Portfolio was approximately 5 years. The GLA-weighted average remaining life of the lease agreements for the retail, office and mixed-use properties in our Operating Portfolio was approximately 5.3, 3.4 and 5.2 years, respectively. The Lease Spread (compares in a given period of time the price per sqm of Fixed Rent of the renewed and new lease agreements with respect to the price per sqm of the expired and terminated lease agreements in the same period of time) in 2Q17 was 9.3% for the properties of our Current Operating Portfolio and 7.7% for the retail properties and retail components of the mixed-use properties in our Currently Operating Portfolio:

Fibra Danhos! Historic Lease Spread ! !

14.0%! 12.6%! 12.0%! 10.9%!

10.0%! 9.3%! 7.3%! 7.7%! 8.0%! 6.7%! 7.0%! 6.0%! 6.0%! 4.2%! 4.0%! 1.8%! 2.0%!

0.0%! 2Q16! 3Q16! 4Q16! 1Q17! 2Q17!

Operating Portfolio! Retail and Mixed-Use properties!

The Lease Spread of the Current Operating Portfolio in 2Q17 was calculated over 8,142 sqm. The Lease Spread of the retail properties and mixed-use properties in 2Q17 was calculated over 6,485 sqm. For second consecutive quarter, Lease Spread has grown above average of last couple years.

5. Current Operating Portfolio

Fibra Danhos Portfolio Opening Year State / Municipality GLA % of GLA Occupancy Parking Spaces Current Operating Portfolio Retail 1. Parque Alameda 2003 Cuauhtémoc, Distrito Federal 15,755 1.7% 98.1% 308 2. Parque Delta 2005/2016 (expansion) Benito Juárez, Distrito Federal 67,657 7.5% 99.7% 3,213 3. Parque Duraznos 2000 Miguel Hidalgo, Distrito Federal 15,855 1.8% 99.0% 969 4. Parque Lindavista 2006 Gustavo A. Madero, Distrito Federal 41,558 4.6% 99.3% 2,306 5.1 Reforma 222 (Retail) 2007 Cuauhtémoc, Distrito Federal 24,131 2.7% 99.5% 690 6. Parque Tezontle 2007/2015 (expansion) Iztapalapa, Distrito Federal 68,995 7.6% 96.6% 2,742 7.1 Toreo Parque Central (Retail) 2014 Naucalpan, Estado de México 90,345 10.0% 95.4% 3,400 8. Vía Vallejo 2016 Azcapotzalco, Distrito Federal 81,788 9.1% 95.1% 4,725 Sub total Retail 406,083 45.0% 97.1% 18,353 Office 5.2 Reforma 222 (Office) 2007 Cuauhtémoc, Distrito Federal 20,323 2.3% 95.6% 690 7.2 Toreo (Towers B&C) 2015 Naucalpan, Estado de México 65,305 7.2% 78.9% 1,500 7.3 Toreo (Tower A) 2017 Naucalpan, Estado de México 61,192 6.8% 0.0% 1,500 7.4 Toreo (Hotel) 2016 Naucalpan, Estado de México 17,297 1.9% 100.0% 400 9. Parque Esmeralda 2000 Tlalpan, Distrito Federal 34,000 3.8% 100.0% 1,636 10. Torre Virreyes 2016 Miguel Hidalgo, Distrito Federal 67,879 7.5% 100.0% 2,300 11. Urbitec 2009 Miguel Hidalgo, Distrito Federal 12,912 1.4% 89.9% 501 12. Parque Virreyes 1989 Miguel Hidalgo, Distrito Federal 7,937 0.9% 89.9% 251 Sub total Office 286,845 31.8% 72.8% 8,778 Total Current Operating Portfolio 692,927 76.7% 87.1% 27,131

5.1 Torre Virreyes Torre Virreyes is fully leased in its office and retail spaces at an average rate that exceeded our IPO expectations and the Lomas-Palmas average rate. We are in the process of executing its last available retail space. Its NOI reached 108.5 million pesos during the quarter and consequently 95% of CBFIs issued for the project where granted economic rights.

5.2 Toreo (retail component, office towers and hotel) Liverpool at Toreo is expected to open during October, complementing the shopping center´s successful tenant mix with the country´s most important anchor store. The NOI of the retail component of Toreo reached 78.5 million pesos during the quarter. We received more than 3.3 million visitors and more than 540,000 vehicles, which represent increases of 5% and 10% respectively, compared with 2016.

63% of office towers B and C´s GLA is under operation and its NOI reached 41.5 million pesos. We have executed lease agreements for 51,513 sqm, which represent 79% of its GLA. We are in the process of executing Toreo´s tower A first lease agreement for more than 2,000 sqm in the low-rise of the building. The hotel in Toreo started operations on October 2nd, 2016. The hotel is operated by Grupo Posadas under the brand Fiesta Americana (5 Star). It has 252 luxury rooms, restaurants, a business center, meeting rooms and other amenities. The NOI of the hotel reached 12.3 million pesos during the quarter. The following table shows the progress in the leasing process in the office component of Toreo (towers A, B and C):

Toreo Office Component (Towers B&C) As of June 30th, 2017 As of March 31st, 2017 sqm of GLA % of GLA sqm of GLA % of GLA Executed lease agreements 51,209 78.6% 50,765 77.9% Lease agreements in the process of being executed 718 1.1% 751 1.2% Letters of intent 10,396 15.9% 16,657 25.6% Total 62,323 95.6% 68,173 104.6%

Toreo Office Component (Tower A) As of June 30th, 2017 As of March 31st, 2017 sqm of GLA % of GLA sqm of GLA % of GLA Executed lease agreements - 0.0% - 0.0% Lease agreements in the process of being executed 2,128 3.5% - 0.0% Letters of intent 13,500 22.1% - 0.0% Total 15,628 24.0% - 0.0%

5.3 Parque Vía Vallejo Parque Via Vallejo started operations on May 19th, 2016. It is the largest project of its kind to open its doors during 2016 in the Metropolitan Area of Mexico City. It has approximately 82,000 sqm of GLA, with a joint participation of two self-service stores of Grupo Soriana (Hipermercado Soriana and Club de Precios City Club) that add 19,100 sqm and two hotels from Grupo Marriot (Courtyard and Fairfield) of approximately 11,400 sqm. Some of the tenants of this project are: H&M, Forever 21, SEARS, Cinépolis, Sanborns, ZARA, Berskha, Pull & Bear, Stradivarius, LFT, Sfera, American Eagle, Old Navy, Tommy Hilfiger, Guess, Loft, Victoria’s Secret, Aeropostale, Cortefiel, Studio F, Vapiano, El Bajio, Alsea, Innova Sport and Recorcholis, among others. Parque Via Vallejo contributes to the urban renewal of the centrally located industrial zone of Vallejo, which enjoys efficient access through public and private transportation that grant access to new jobs and services to a densely populated region. The area offers a favorable outlook in terms of economic and demographic growth, undergoing a renovation and transition from industrial to commercial and residential vocation. The project is made of three phases and will be built over approximately 100,000 sqm of land. To date, 95%of the project´s GLA is under operations. The NOI of Vía Vallejo reached 47.9 million pesos during the quarter. We received more than 2.7 million visitors and more than 415,000 vehicles.

6. Current Development Portfolio and Growth Plan We have delivered on all of the development commitments set forth during our IPO. We continue working in the development of Parque Las Antenas and Parque Puebla and we are structuring the financial and legal aspects of the Project in the Northeast of Mexico City. We have multiplied the GLA of our Initial Operating Portfolio 2.6 times and we have added over 420,000 sqm of premier quality space to our portfolio since October 2013.

Expected GLA evolution (operation vs. development)

Fibra Danhos 2013 2014 2015 2016 2017e 2018e 2019e Operating Portfolio 45% 49% 59% 78% 87% 96% 100% Pre-IPO Development Portfolio 55% 22% 12% 0% 0% 0% 0% Post-IPO Development Portfolio 0% 29% 29% 22% 13% 4% 0% Total 100% 100% 100% 100% 100% 100% 100% The GLA shown in the table above is the total estimated GLA of the Current Operating Portfolio at the end of every year.

Track record since our IPO

1000!

37.2% CAGR, 2.6x! 800!

695!

41.4% ! Toreo Ofﬁce A!

600! 20.8% ! Via Vallejo (Phase I)! Exp Delta! 488! Toreo Hotel! Toreo Ofﬁce B y C! 51.3% ! Toreo Ofﬁce B y C! 404! Exp Tez.! 400! Exp Tez.! Toreo Retail! Toreo Retail! Toreo Retail!

267! Torre Virreyes! Torre Virreyes! Torre Virreyes!

200!

Initial Operating Portfolio! Initial Operating Portfolio! Initial Operating Portfolio! Initial Operating Portfolio!

0! 2013! 2014! 2015! 2016! Pre-IPO Portfolio! Post-IPO Portfolio! Expected GLA Evolution (000) sqm

22.1% CAGR, 3.3x!

4.1% !

11.3% !

1000! 10.1% ! 886! 851! Northeast! MAMC! 42.4% ! ! 800! 765! Las Antenas (Phase I)! Las Antenas (Phase I)! ! 20.8% ! 695! Puebla (Phase I)! Puebla (Phase I)! Puebla (Phase I)! Toreo Office A! Toreo Office A! Toreo Office A! Toreo Office A! 600! 51.3% ! Via Vallejo (Phase I)! Via Vallejo (Phase I)! Via Vallejo (Phase I)! Via Vallejo (Phase I)! Exp Delta! Exp Delta! Exp Delta! Exp Delta! 488! Toreo Hotel! Toreo Hotel! Toreo Hotel! Toreo Hotel! Toreo Office B y C! Toreo Office B y C! Toreo Office B y C! Toreo Office B y C! Toreo Office B y C! Exp Tez.! Exp Tez.! Exp Tez.! Exp Tez.! 400! 404! Exp Tez.! Toreo Retail! Toreo Retail! Toreo Retail! Toreo Retail! Toreo Retail! Toreo Retail! 267! Torre Virreyes! Torre Virreyes! Torre Virreyes! Torre Virreyes! Torre Virreyes! Torre Virreyes!

200!

0! 2013! 2014! 2015! 2016! 2017e! 2018e! 2019e! Pre-IPO Portfolio! Post-IPO Investments! The GLA shown in the table above is the total estimated GLA of the Current Operating Portfolio at the end of every year.

The following chart shows the current and the estimated GLA breakdown through time by retail, office and hotel segments given the growth plan shown in the table above:

GLA breakdown by sector through time

100.0%! 3.9%! 2.6%! 2.2%! 4.1%! 3.6%! 3.3%! 3.0%!

90.0%!

28.2%! 30.4%! 28.1%! 80.0%! 33.7%! 33.9%! 40.6%! 38.5%!

70.0%!

60.0%!

50.0%!

40.0%! 67.9%! 66.3%! 68.9%! 63.7%! 62.4%! 30.0%! 57.2%! 57.4%!

20.0%!

10.0%!

0.0%! 2013! 2014! 2015! 2016! 2017e! 2018e! 2019e! Retail! Ofﬁce! Hotel!

6.1 Parque Puebla – Expected opening date (Phase I): September 26, 2017 On September 7th, 2015, we announced the acquisition with CBFIs of five plots of land with a joint surface of 98,660 sqm in the Metropolitan Area of Puebla, which added to another of 6,508 sqm previously acquired will integrate a joint surface of 105,168 sqm. With the approval of our technical committee on April 28, 2014, on these plots of land we plan to develop a project consisting of a regional retail and entertainment center with three anchor stores (department stores), boutiques, restaurants, movie theatres, kid entertainment, a supermarket, and services such as banks, telephone service centers and a gym. On January 12, 2017 we held the conclusion ceremony of work at Parque Puebla, fulfilling the commitment assumed with the local Government. More than 200,000 square meters of construction were completed in a record time of 13 months. The inauguration of the shopping center is scheduled for September 26, 2017. We have reached an agreement to incorporate an aquarium in Parque Puebla. This new educational and entertainment concept will occupy an exhibition area of around 10,000 sqm and will offer a unique experience to our visitors. We expect to have over 72% of the available retail space (including Liverpool) for its opening. With this project, Fibra Danhos maintains its development strategy of premier quality assets while diversifying geographically, contributing to the development of the Puebla-Tlaxcala Metropolitan Area, which has a population of 2.7 million inhabitants and is the fourth most populated after the Valley of Mexico, Guadalajara and Monterrey. The following table shows the investment progress of the project: Project Puebla (Phase I) Location Puebla, México Construction start date 1Q16 Expected opening date 26-Sep-17 Estimated GLA 70,000 Approximate investment as of June 30th, 2017 $ 1,561,142,432 Total estimated investment (excluding land) $ 2,600,000,000

6.2 Parque Las Antenas – Expected opening date (Phase I): 2Q18 Las Antenas reinforces the strategic focus of Fibra Danhos on the MAMC, which is the largest market in the country. The project is located on the limit of the Iztapalapa and Xochimilco boroughs, where there is a high population density as well as a lack of quality retail and entertainment options, creating a great opportunity to capture the demand in the area. Furthermore, the connectivity of the area will improve significantly with the expansion of the 2nd floor of Periférico to the limits of the Iztapalapa borough with the Netzahualcoyotl municipality, in the State of Mexico, as well as with the reopening of the underground line 12, which will allow the mobility of families from other boroughs and municipalities. We have taken possession of the land and we have concluded the architectural project. The two plots of land, which in the aggregate amount to approximately 105,000 sqm of surface, have the required use of land for the development of the project, and their merger will be processed by Fibra Danhos. Based on the land configuration, we plan to develop the project in two phases. We estimate that when the project is completed it will have approximately 106,500 sqm of GLA out of which 86,500 sqm correspond to the first phase. The planned investment for the construction of the first phase is over $3,000 million (excluding land). The construction of the shopping and entertainment center Parque Las Antenas continues. We have reached agreements with Liverpool and Cinépolis to participate in the project and we continue working on the leasing agreements with the anchors and sub-anchors. We have reached an overall work progress of 80%. We have executed lease agreements for 40% of its GLA and considering letters of intent and leases in the process of being executed we have an overall pre-leasing progress of 81.3% of its GLA. The following table shows indicators of the construction progress and progress in permits and licenses for phase I of the project: Parque Las Antenas (Phase I) Percentage of As of June 30th, 2017 As of March 31st, 2017 contribution to the work Work progress 100.0% 80.0% 69.0% Excavation and foundations 20.0% 100.0% 95.0% Civil works 45.0% 98.0% 95.0% Installations and equipments 20.0% 50.0% 25.0% Finishes and facades 15.0% 39.5% 15.0% (1) Excludes construction completion certificates and occupancy permits The following table shows the investment progress of the project: Project Las Antenas (Phase I) Location Iztapalapa, Distrito Federal Construction start date 1Q16 Expected opening date 2Q18 Estimated GLA 86,500 Approximate investment as of June 30th, 2017 $ 1,974,774,341 Total estimated investment (excluding land) $ 3,000,000,000

Parque Las Antenas

6.3 Project located northeast of MAMC – Expected opening date (Phase I): 2019-2020 In the Technical Committee session held on July 21, 2016, Fibra Danhos’ participation in a new mixed-use development in the northeast area of Mexico City was approved. The area is heavily populated and with residential and commercial vocation. We signed a binding agreement with private partners (unrelated third-party) to participate in the project. Fibra Danhos will own 50% of the project and will be in charge of the development and operation. It is expected that the plots of land where the project will be developed to surpass 60,000 sqm. This development will feature two anchor stores, including the country’s largest and most anchor store and the vast majority of our existing tenants have shown interest to participate in it. The expected GLA of the project is over 70,000 sqm. The land has the appropriate zoning for the project. Subject to obtaining permits and licenses, we consider that the project will open its doors to public in late 2019 or early 2020 thus increasing the visibility of Fibra Danhos´ pipeline once Parque Puebla and Parque Las Antenas are completed.

7. Portfolio The following table shows relevant information about our Portfolio as of June 30th, 2017:

8. Glossary Adjusted Funds From Operations (AFFO): Result of adjusting FFO by adding or subtracting, as applicable, the following items: (i) subtracting capital expenditures to maintain and improve the quality of assets; (ii) subtracting principal payments of existing debt financings; (iii) net Tenant Admission Payments, which are composed of Tenant Admission Payments collected in the current period that are unearned and Tenant Admission Payments collected in prior periods accrued in the current period; (iv) net rents collected in advance, which are composed of rents collected in advance in the current period that are unearned and rents collected in advance in prior periods that are accrued in the current period; (v) net Leasing and net Advisory Fees accrued, which are composed of Leasing and Advisory Fees accrued in advance, Leasing and Advisory Fees accrued in the current period that remain unpaid and Leasing and Advisory Fees from previous periods; (vi) adjusting for the straight-line effect (effect of recognizing the amounts of Base Rent, proportionately in straight line throughout the term of lease agreements, no matter the payment method agreed upon with the tenant); (vii) net Property Tax and Insurance expenses, which are composed of unaccrued Property Tax and Insurance expenses from the current period and Property Tax and Insurance expenses that correspond to previous periods. AFFO is a measure of the capacity to generate cash flows. Base rent: Minimum fixed rent payable by tenants as determined in the lease agreement. Delinquency Rate: Rental payment delayed beyond 60 days. When it is presented as a percentage, Delinquency Rate is rental payment delayed beyond 60 days as a percentage of annualized Base Rent of the respective period. Current Development Portfolio: Means the properties and components of properties that are currently under development and/or conclusive phase. (Parque Las Antenas, Parque Puebla and Northeast MAMC Project). Current Operating Portfolio: Means, collectively, the properties that are part of the Initial Operating Portfolio, the retail component of Toreo Parque Central and Torre Virreyes. (Parque Alameda, Parque Delta, Parque Duraznos, Parque Esmeralda, Parque Lindavista, Reforma 222, Parque Tezontle, retail component of Toreo Parque Central, office towers A, B & C of Toreo Parque Central, the hotel in Toreo Parque Central, Parque Vía Vallejo, Urbitec and Parque Virreyes.) EBITDA: Earnings before interests, taxes, depreciation and amortization. In the case of pro forma financial information of the 9 properties in our Operating Portfolio, the Advisory Fee is subtracted from revenues to calculate EBITDA. In the case of financial information of Fibra Danhos, the Advisory Fee and professional fees to fourth parties, if any, are subtracted from revenues to calculate EBITDA. In any case, EBITDA is calculated before any adjustments relating to changes in the market value of assets reflected in results. Economic Rights: Rights of CBFI holders to receive cash distributions, pursuant to the legal documents of Fibra Danhos’ IPO. Funds From Operations (FFO): As applicable, the result of adding to or subtracting from Net Income adjustments relating to negative or positive changes, respectively, in the market value of assets reflected in results. Initial Development Portfolio: Means the two properties that were contributed to the Trust for its IPO. (Toreo Parque Central and Torre Virreyes) Initial Operating Portfolio: Means the nine properties that were contributed to the Trust for its IPO. (Parque Alameda, Parque Delta, Parque Duraznos, Parque Esmeralda, Parque Lindavista, Reforma 222, Parque Tezontle, Urbitec and Parque Virreyes.) Lease Spread: Compares in a given period of time the price per sqm of Fixed Rent of the renewed and new lease agreements with respect to the price per sqm of the expired and terminated lease agreements in the same period of time

Net Income: Result of (i) subtracting from operating revenues (Base Rent, Overage Rent, Tenant Admission Payments, parking revenues, and maintenance, operation, advertising and other revenues) operation and maintenance expenses; property taxes; insurance; Advisory Fee; Leasing Administration Fee; professional fees to fourth parties; net financial revenues/expenses; taxes attributable to the Management Subsidiary; and (ii) adding or subtracting, as applicable, any adjustments relating to changes in the market value of assets reflected in results. Net Operating Income: Calculated by subtracting operating expenses of the properties (excluding net financial revenues/expenses and the Advisory Fee) from operating revenues of the properties. Occupancy Cost: In the case of those retail tenants who are the most significant in terms of GLA and Fixed Rent, cost incurred associated to occupying a premise, which consists of Base Rent, Overage Rent and common area maintenance and advertising fees, expressed as a percentage of the corresponding Tenant Sales. Overage Rent: The difference paid as rent (when positive), between Base Rent and the rent consisting of a percentage of Tenant Sales, as determined in the lease agreements of retail spaces. Renewal Rate: Result of dividing the gross leasable area of premises that were renewed, by the total gross leasable area of the portfolio. Rent loss: Rental payment delayed beyond 180 days. When it is presented as a percentage, Rental Loss is rental payment delayed beyond 180 days as a percentage of annualized Base Rent of the respective period. Tenant Admission Payments: A one-time non-reimbursable payment made to us by some entering tenants in our retail properties and in the retail components of our mixed-use properties. Tenant Admission Payments are usually received at the time of leasing new space or when an expiring lease agreement is not renewed and the corresponding premise is leased to a new entering tenant. Tenant Sales: Sales generated in the leased premises in a given period for those retail tenants who are the most significant in terms of GLA and Fixed Rent and have a contractual obligation to report sales under their lease agreements.