| Summary of Long-term Debt |
As of December 31, 2025 and 2024, debt was as follows: | | | | | | | | | | | | | | | | | | 2025 (B) | | Rate of interest (A) | Maturity | Pesos | Foreign currency | | U.S. dollars | | | | | | Bonds | Fixed from 5.35% to 10.00%, SOFR plus 3.500% to 3.750% | Various to 2060 | Ps. | 915,387,717 | | US$ | 50,949,129 | | | Project financing | SOFR plus 1.23% to 1.81% | Various to 2031 | 4,221,385 | | 234,956 | | | Direct loans | Fixed of 4.59% to 10.380% and SOFR plus 2.15% to 4.54% | Various to 2031 | 269,813,134 | | 15,017,401 | | | Syndicated loans | SOFR plus 4.85% | During 2026 | 26,950,050 | | 1,500,000 | | | Revolving credit lines | SOFR | 2026 | 28,565,695 | | 1,589,924 | | | Financing of Infrastructure asset | Fixed from 8.38% and 8.89% | Various to 2036 | 16,491,503 | | 917,893 | | | Total financing in U.S. dollars | | | 1,261,429,484 | | US$ | 70,209,303 | | | Euros | | | | | | Bonds | Fixed from 2.75% to 4.88% | Various to 2030 | 51,922,592 | | € | 2,461,090 | | | Japanese yen | | | | | | Bonds | Fixed from 0.54% | Various to 2026 | 9,165,982 | | ¥ | 79,982,394 | | | Pesos | | | | | | Certificados bursátiles | Fixed of 7.47% | Various to 2026 | 31,361,411 | | | | Direct loans | TIIE plus 1.90% to 4.50% | Various to 2029 | 84,526,117 | | | | Others | TIIE plus 2.65% | During 2026 | 19,942,808 | | | | Total financing in pesos | | | 135,830,336 | | | | UDIs | | | | | | Certificados bursátiles | Fixed from 3.02% to 5.23% | Various to 2035 | 43,138,222 | | | Total principal in pesos (C) | | | 1,501,486,616 | | | | Plus: | | | | | | Accrued interest | | | 29,811,474 | | | | Total principal and interest | | | 1,531,298,090 | | | | Less: | | | | | | Short-term maturities | | | 315,416,497 | | | | Accrued interest | | | 29,811,474 | | | | Total short-term debt and current portion of long-term debt | | | 345,227,971 | | | | Long-term debt | | | Ps. | 1,186,070,119 | | |
| | | | | | | | | | | | | | | | | | 2024 (B) | | Rate of interest (A) | Maturity | Pesos | Foreign currency | | U.S. dollars | | | | | | Bonds | Fixed from 2.38% to 10.00%, SOFR plus 0.612% to 3.75% | Various to 2060 | 1,218,029,594 | | U.S.$ | 60,095,301 | | | Project financing | SOFR plus 0.87% to 1.81% | Various to 2031 | 8,380,867 | | 413,496 | | | Direct loans | Fixed of 10.38% and SOFR plus 2.15% to 4.54% | Various to 2031 | 101,351,485 | | 5,000,493 | | | Syndicated loans | SOFR plus 4.85% | Various to 2026 | 30,402,450 | | 1,500,000 | | | Revolving credit lines | SOFR plus 3.00% to 4.85% | 2025 | 131,369,868 | | 6,481,543 | | | Financing of Infrastructure asset | Fixed from 8.38% and 8.89% | Various to 2036 | 20,846,608 | | 1,028,533 | | | Total financing in U.S. dollars | | | 1,510,380,872 | | U.S.$ | 74,519,366 | | | Euros | | | | | | Bonds | Fixed from 2.75% to 5.50% | Various to 2030 | 136,091,806 | | € | 6,484,638 | | | Japanese yen | | | | | | Bonds | Fixed from 0.54% | Various to 2026 | 10,306,353 | | ¥ | 79,956,191 | | | Pesos | | | | | | Certificados bursátiles | Fixed of 7.47% to | Various to 2026 | 31,318,419 | | | | Direct loans | TIIE plus 0.85% to 4.50% | Various to 2029 | 143,086,612 | | | | Syndicated loans | TIIE plus 0.95% | Various to 2025 | 1,350,000 | | | | Revolving credit lines | TIIE plus 4.25% | 2025 | 20,500,000 | | | | Others | TIIE plus 2.65% | Various to 2026 | 34,006,893 | | | | Total financing in pesos | | | 230,261,924 | | | | UDIs | | | | | | Certificados bursátiles | Fixed from 3.02% to 5.23% | Various to 2035 | 41,592,362 | | | | Other currencies | | | | | | Bonds | Fixed from 3.75% | Various to 2025 | 11,412,443 | | | Total principal in pesos (C) | | | 1,940,045,760 | | | | Plus: | | | | | | Accrued interest | | | 38,726,495 | | | | | | | | | Total principal and interest | | | 1,978,772,255 | | | | Less: | | | | | | Short-term maturities | | | 386,492,022 | | | | | | | | | Accrued interest | | | 38,726,495 | | | | Total short-term debt and current portion of long-term debt | | | 425,218,517 | | | | Long-term debt | | | Ps. | 1,553,553,738 | | |
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| Summary of Changes in Consolidated Debt |
The following table presents the roll-forward of total debt of PEMEX for each of the year ended December 31, 2025 and 2024, which includes short and long-term debt: | | | | | | | | | | 2025 | 2024 | | Changes in total debt: | | | | At the beginning of the year | Ps. | 1,978,772,255 | | Ps. | 1,794,470,357 | | | Loans obtained - financing institutions | 897,917,722 | | 1,056,523,887 | | | Debt payments | (1,169,025,539) | | (1,148,872,172) | | Accrued interest (1)(2) | 152,373,946 | | 163,614,450 | | | Interest (paid) | (149,914,573) | | (148,380,958) | | | Foreign exchange | (178,825,721) | | 261,416,691 | | | At the end of the year | Ps. | 1,531,298,090 | | Ps. | 1,978,772,255 | |
(1)During 2025, includes Ps. 5,068,080 of premiums and awards amortizations; Ps. (4,277,084) of fees and expenses related to the issuance of debt and amortized cost of Ps. 163,629. (2)During 2024, includes Ps. 622,591 of premiums and awards amortizations; Ps. (1,900,454) of fees and expenses related to the issuance of debt and amortized cost of Ps. 2,127,973.
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