6-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington**,D.C. 20549**

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FORM 6-K

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REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TORULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

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COMMISSION FILE NUMBER 1-11176

For the month of March 2024.

Grupo Simec, S.A.B.de C.V.

(Translation of Registrant’s Name Into English)

Av. Lázaro Cardenas 601, Colonia la Nogalera, Guadalajara, Jalisco, México 44440

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒       Form 40-F ☐

Indicate by check mark whether the registrant by furnishing the information contained in this form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes ☐ No ☒

(If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-___________.)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	GRUPO SIMEC, S.A.B. de C.V.
	(Registrant)
Date: April 26, 2024.	By:	/s/<br> Rufino Vigil González
		Name:	Rufino Vigil González
		Title:	Chief Executive Officer

1

Exhibit99.1

PRESS RELEASE	Contact: José<br> Luis Tinajero
	Mario Moreno Cortez
	Grupo Simec, S.A.B. de C.V.
	Calzada Lázaro Cárdenas<br> 601
	44440 Guadalajara, Jalisco,<br> México
	52 55 1165 1025
	52 33 3770 6734

GRUPOSIMEC ANNOUNCES RESULTS OF OPERATIONS FOR THE FIRST QUARTER, OF 2024, ENDED MARCH 31, 2024

GUADALAJARA, MEXICO, April 25, 2024- Grupo Simec, S.A.B. de C.V. (NYSE: SIM) (“Simec”) announced today its results of operations for the three-month period ended March 31, 2024.

Comparativefirst quarter of 2024 vs. first quarter of 2023

NetSales

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The net sales of the company decreased derived from a less sales price. Sales passed from Ps. 12,825 million in the first quarter of 2023 to Ps. 7,885 million in the same period of 2024. Shipments of steel finished goods decreased 21% from 604 thousand tons in the first quarter of 2023 compared to 479 thousand tons in the same period of 2024. Total sales outside of Mexico in the first quarter of 2024 decreased 29% to reach Ps. 3,694 million compared to Ps. 5,181 million in the same period of 2023. The Mexican sales decreased 45% from Ps. 7,644 million in the first quarter of 2023 to Ps. 4,191 million in the same period of 2024. The decrease in sales can be explained, from mainly due to a lower volume of tons shipped and the average sales price per ton of steel finished goods decreased 22% in the first quarter of 2024 compared with the same period of 2023.

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Costof Sales

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The cost of sales decreased from Ps. 9,618 million in the first quarter of 2023 to Ps. 5,876 million in the same period of 2024. Cost of sales as a percentage of net sales in the first quarter of 2024 and 2023 represented 75% for both periods. The average cost of sales per ton of steel finished goods decreased 23% in the first quarter of 2024 compared to the same period of 2023.

GrossProfit

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The gross profit of the company decreased 37% from Ps. 3,207 million in 2023 to Ps. 2,009 million in the same period of 2024. Gross profit as a percentage of net sales in the first quarter of 2024 and 2023 represented 25% for both periods. The decrease in gross profit is caused by a lower Volume of tons shipped in the first quarter of 2024 compared with the same period of 2023.

General,Sales and administrative Expenses

---

General, selling, and administrative expenses increased 1%, from Ps.587 million in the first quarter of 2023 to Ps. 595 million in the same period of 2024 and representing 5% of net sales in 2023 compared to 8% for the period 2024.

OtherExpenses (Income) net

---

The company recorded other income net of Ps. 5 million in the first quarter of 2024 compared to other income net of Ps. 58 million in the same period of 2023.

OperatingIncome

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The operating income decreased from Ps. 2,678 million for the first quarter of 2023 compared to Ps. 1,419 million in the same period of 2024. Operating income as a percentage of net sales was 18% in the first quarter of 2024 compared to 21% in the same period of 2023. The decrease in operating income is primarily due to a lower volume of tons shipped and a lower average selling price in the first quarter of 2024 compared to the same period in 2023.

EBITDA

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The EBITDA of the Company was of Ps. 2,959 million for the first quarter of 2023, as a result of a net income of Ps. 1,033 million, less minority stake of Ps. 2 million, plus income taxes of Ps. 531 million, plus comprehensive financial cost of Ps. 1,116 million, plus depreciation of Ps. 281 million to Ps 1,668 million in the same period of 2024 as a result of a net income of Ps. 1,456 million, plus income taxes of Ps. 110 million, less comprehensive financial cost of Ps. 147 million, plus depreciation of Ps. 249.

	Comparative<br> first quarter of 2024 vs first quarter of 2023,
Consolidated Million	2024			2023
Net<br> income (loss)		1,456			1,033
Loss attributable to<br> noncontrolling interests					(2	)
Net<br> income (loss)		1,456			1,031
Depreciation and amortization		249			281
Income taxes		110			531
Financial results income<br> (loss)		(147	)		1,116
EBITDA		1,668			2,959
Items to reconciled adjusted<br> EBITDA
Equity results and other results in associates<br> and joint ventures		0			0
Dividends received and interest from associates<br> and joint ventures (i)		0			0
Impairment and disposal<br> of non-current assets		0			0
Adjusted<br> EBITDA		1,668			2,959

2

ComprehensiveFinancial Cost

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The Comprehensive financial cost in the first quarter of 2024 represented a net income of Ps. 147 million compared with a net expense of Ps.1,116 million in the same period of 2023. Net interest was an income of Ps. 250 million in the first quarter of 2024 compared with a net income of Ps. 190 million in the same period of 2023. At the same time, Simec registered an exchange loss of Ps. 103 million in the first quarter of 2024 compared with an exchange loss of Ps.1,306 million in the same period of 2023.

IncomeTaxes

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Income Taxes recorded an expense of Ps. 110 million in the first quarter of 2024 (including the benefits of Ps. 8 million of deferred income taxes), compared to an expense of Ps.531 million in the same period of 2023.

NetIncome (loss)

---

As a result of the foregoing, net income increases to Ps. 1,456 million in the first quarter of 2024 from Ps. 1,033 million in the same period of previous year.

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FinancialSituation, Liquidity and Capital Resources

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As of March 31, 2024, Simec’s total consolidated debt consisted of U.S. $302,000 of 8 7/8% medium-term notes (“MTN's”) due 1998, or Ps. 5.0 million (accrued interest on March 31, 2024 was U.S. $820 or Ps. 13.7 million). As of March 31, 2023, Simec’s total consolidated debt consisted of U.S. $302,000 of 8 7/8% medium-term notes (“MTN's”) due 1998, or Ps. 5.5 million (accrued interest on March 31, 2023 was U.S. $696 or Ps. 12.6 million).

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Comparativefirst quarter of 2024 vs. fourth quarter of 2023

NetSales

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The net sales of the company decreased 11% comparing Ps. 8,815 million in the fourth quarter of 2023 to Ps. 7,885 million in the first quarter of 2024. The tons sales decreased 11%, from 536 thousand tons in the fourth quarter of 2023 compared to 479 thousand tons in the first quarter of 2024. Total sales outside of Mexico in the first quarter of 2024 increased 11% from Ps. 3,320 million on the last quarter of 2023 compared to Ps. 3,694 million in the first quarter of 2024. The Mexican sales decreased 24% from Ps. 5,495 million in the fourth quarter of 2023 to Ps. 4,191 million in the first quarter of 2024. The decrease mainly due to a lower volume shipped, in the first quarter of 2024 compared with the fourth quarter of 2023.

Costof Sales

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Cost of sales decreased 6% from Ps. 6,282 million in the fourth quarter of 2023 to Ps. 5,876 million in the first quarter of 2024. Cost of sales as a percentage of net sales in the first quarter of 2024 represented 75% and in the last quarter of 2023 cost of sales represented 71%. The average cost of finished steel products in the first quarter of 2024 increased 5% compared to the fourth quarter of 2023 as a result of an increased on the cost of raw materials.

GrossProfit

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Gross profit of the company for the first quarter of 2024 decreased to Ps. 2,009 million in 2024 from Ps. 2,533 million in the last quarter of 2023. Gross profit as a percentage of net sales in the first quarter of 2024 was 25% and for the last period of 2023 was 29%. The decrease in gross profit is due to a lower volume of shipments on the first quarter of 2024 compared with the last quarter of 2023.

3

General,Sales and administrative Expenses

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General selling, and administrative expenses decreased to Ps. 595 million in the first quarter of 2024 compared to Ps. 761 million in the fourth quarter of 2023, representing 8% for the period of the first quarter 2024 and 9% for the period of the fourth quarter 2023.

OtherExpenses (Income) net

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The company recorded other net income of Ps. 5 million in the first quarter of 2024 compared to other net expenses of Ps. 63 million in the fourth quarter of 2023.

OperatingIncome

Operating income decreased 17% to Ps. 1,419 million for the first quarter of 2024 compared to Ps. 1,709 million in the last quarter of 2023. Operating income as a percentage of net sales was 18% in the first quarter of 2024, compared to 19% in the last quarter of 2023. The decrease in operating income is due to the decrease in production and volume of shipments, in the first quarter of 2024 compared with the fourth quarter of 2023.

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EBITDA

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The EBITDA of the Company was of 1,914 million for the fourth quarter of 2023, as a result of a net income of Ps. 1,365 million, less minority stake of Ps. 2 million, less income taxes of Ps. 236 million, plus comprehensive financial cost of Ps. 582 million, plus depreciation of Ps. 205 million to Ps 1,668 million in the first quarter of 2024 as a result of a net income of Ps. 1,456 million, plus income taxes of Ps. 110 million, less comprehensive financial cost of Ps. 147 million, plus depreciation of Ps. 249.

	Comparative<br> first quarter of 2024 vs fourth quarter of 2023,
Consolidated Million	2024			2023
Net<br> income (loss)		1,456			1,365
Loss attributable to<br> noncontrolling interests					(2	)
Net<br> income (loss)		1,456			1,363
Depreciation and amortization		249			205
Income taxes		110			(236	)
Financial results income<br> (loss)		(147	)		582
EBITDA		1,668			1,914
Items to reconciled adjusted<br> EBITDA
Equity results and other results in associates<br> and joint ventures		0			0
Dividends received and interest from associates<br> and joint ventures (i)		0			0
Impairment and disposal<br> of non-current assets		0			0
Adjusted<br> EBITDA		1,668			1,914

4

ComprehensiveFinancial Cost

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Comprehensive financial cost in the first quarter of 2024 represented a net income of Ps. 147 million compared with a net expense of Ps. 582 million in the fourth quarter of 2023. Net interest income of the first quarter of 2024 was of Ps. 250 million compared with an interest net income of Ps. 181 million in the last quarter of 2023. Likewise, an exchange less of 103 million was recorded in the first quarter of 2024 against an exchange less of Ps. 787 million in the last quarter of 2023. In the fourth quarter of 2023, other net financial income was recorded for Ps. 24 million.

IncomeTaxes

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Income Taxes recorded an expense of Ps. 110 million in the first quarter of 2024 (including Ps. 8 million of deferred expense taxes), compared with an income of Ps. 236 million in the fourth quarter of 2023 (including Ps. 136 million of deferred income taxes).

NetIncome (loss)

---

As a result of the foregoing, the net income of the first quarter of 2024 is of Ps. 1,456 million compared net income Ps. 1,365 million of the fourth quarter 2023.

Quarter
(millions<br> of pesos)	1Q‘24		4Q<br> ‘23			1Q<br> 23		1Q´24vs<br> <br> 4Q´23			1Q´24<br> vs <br> 1Q '23
Sales		7,885		8,815			12,825		(11	)%		(39	)%
Cost of Sales		5,876		6,282			9,618		(6	)%		(39	)%
Gross Profit		2,009		2,533			3,207		(21	)%		(37	)%
Selling, General and<br> Adm. Expenses		595		761			587		(22	)%		1	%
Other Income (Expenses),<br> net		5		(63	)		58		(108	)%		(91	)%
Operating Profit		1,419		1,709			2,678		(17	)%		(47	)%
EBITDA		1,668		1,914			2,959		(13	)%		(44	)%
Net Income		1,456		1,365			1,033		7	%		41	%
Sales Outside Mexico		3,694		3,320			5,181		11	%		(29	)%
Sales in Mexico		4,191		5,495			7,644		(24	)%		(45	)%
Total Sales (Tons)		479		536			604		(11	)%		(21	)%
Cost per Ton		12,267		11,720			15,924		5	%		(23	)%
Product	Thousands of Tons<br> <br>Jan-Mar 2024		Millions<br> of Pesos<br><br> <br>Jan-Mar<br> 2024		Average Price per Ton<br> <br>Jan-Mar<br> <br>2024		Thousands of Tons<br> <br>Oct-Dec<br> <br>2023		Millions of Pesos Oct-Dec<br> <br>2023		Average Price per Ton<br> <br>Oct-Dec<br> <br>2023		Thousands of Tons Jan-Mar<br> <br>2023		Millions<br><br> of Pesos<br><br> <br>Jan-Mar<br> 2023		Average Price per Ton Jan-Mar<br> <br>2023
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
Commercial<br> Profiles		352		5,435		15,440		383		6,053		15,804		425		8,583		20,195
Special<br> Profiles		127		2,450		19,291		153		2,762		18,052		179		4,242		23,698
Total		479		7,885		16,461		536		8,815		16,446		604		12,825		21,233

Anyforward-looking information contained herein is inherently subject to various risks, uncertainties and assumptions which, if incorrect,may cause actual results to vary materially from those anticipated, expected or estimated. The company assumes no obligation to updateany forward-looking information contained herein.

5

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CLAVE DE COTIZACION: SIMEC	QUARTER: 1
GRUPO SIMEC, S.A.B. DE C.V	2024
(THOUSAND PESOS)
	ENDING<br> CURRENT QUARTER			ENDING<br> PREVIOUS YEAR
---	---	---	---	---	---	---
ACCOUNT	Amount			Amount
TOTAL<br> ASSETS		68,687,590			66,863,633
TOTAL<br> CURRENT ASSETS		45,513,472			43,798,523
CASH AND CASH EQUIVALENTS		24,072,407			23,584,335
SHORT-TERM INVESTMENTS		0			0
AVAILABLE-FOR-SALE<br> INVESTMENTS		0			0
TRADING<br> INVESTMENTS		0			0
HELD-TO-MATURITY<br> INVESTMENTS		0			0
TRADE RECEIVABLES,<br> NET		6,185,138			5,755,595
TRADE<br> RECEIVABLES		6,392,674			5,963,131
ALLOWANCE<br> FOR DOUBTFUL ACCOUNTS		-207,536			-207,536
OTHER RECEIVABLES,<br> NET		3,819,373			3,254,473
OTHER<br> RECEIVABLES		3,819,373			3,254,473
ALLOWANCE<br> FOR DOUBTFUL ACCOUNTS		0			0
INVENTORIES		10,684,604			10,372,432
BIOLOGICAL CURRENT<br> ASSETS		0			0
OTHER CURRENT ASSETS		751,950			831,688
PREPAYMENTS		0			0
DERIVATIVE<br> FINANCIAL INSTRUMENTS		0			0
ASSETS<br> AVAILABLE FOR SALE		0			0
DISCONTINUED<br> OPERATIONS		0			0
RIGHTS<br> AND LICENSES		0			0
OTHER		751,950			831,688
TOTAL<br> NON-CURRENT ASSETS		23,174,118			23,065,110
ACCOUNTS RECEIVABLE,<br> NET		0			0
INVESTMENTS		0			0
INVESTMENTS<br> IN ASSOCIATES AND JOINT VENTURES		0			0
HELD-TO-MATURITY<br> INVESTMENTS		0			0
AVAILABLE-FOR-SALE<br> INVESTMENTS		0			0
OTHER<br> INVESTMENTS		1,407,678			1,461,865
PROPERTY, PLANT AND<br> EQUIPMENT, NET		18,162,820			17,953,857
LAND<br> AND BUILDINGS		6,637,564			6,649,656
MACHINERY<br> AND INDUSTRIAL EQUIPMENT		29,543,280			29,700,779
OTHER<br> EQUIPMENT		322,038			319,595
ACCUMULATED<br> DEPRECIATION		-23,210,262			-23,109,581
CONSTRUCTION<br> IN PROGRESS4		4,870,200			4,393,408
INVESTMENT PROPERTY		0			0
BIOLOGICAL NON- CURRENT<br> ASSETS		0			0
INTANGIBLE ASSETS,<br> NET		2,265,975			2,298,081
GOODWILL		1,814,160			1,814,160
TRADEMARKS		329,600			329,600
RIGHTS<br> AND LICENSES		0			0
CONCESSIONS		0			0
OTHER<br> INTANGIBLE ASSETS		122,215			154,321
DEFERRED<br> TAX ASSETS		0			0
OTHER<br> NON-CURRENT ASSETS		1,337,645			1,351,307
PREPAYMENTS		0			0
DERIVATIVE<br> FINANCIAL INSTRUMENTS		0			0
EMPLOYEE<br> BENEFITS		0			0
AVAILABLE<br> FOR SALE ASSETS		0			0
DISCONTINUED<br> OPERATIONS		0			0
DEFERRED<br> CHARGES		0			0
OTHER		1,337,645			1,351,307
TOTAL<br> LIABILITIES		17,379,178			16,841,158
TOTAL<br> CURRENT LIABILITIES		13,506,798			12,829,898
BANK LOANS		0			0
STOCK MARKET LOANS		5,037			5,102
OTHER LIABILITIES<br> WITH COST		0			0
TRADE PAYABLES		7,457,927			7,443,227
TAXES PAYABLE		2,191,425			2,184,650
INCOME<br> TAX PAYABLE		0			0
OTHER<br> TAXES PAYABLE		2,191,425			2,184,650
OTHER CURRENT LIABILITIES		307,999			297,675
INTEREST<br> PAYABLE		13,676			13,733
DERIVATIVE<br> FINANCIAL INSTRUMENTS		0			0
DEFERRED<br> REVENUE		0			0
EMPLOYEE<br> BENEFITS		0			0
PROVISIONS		0			0
CURRENT<br> LIABILITIES RELATED TO AVAILABLE FOR SALE ASSETS		0			0
DISCONTINUED<br> OPERATIONS		0			0
OTHER		3,530,734			2,885,511
TOTAL<br> NON-CURRENT LIABILITIES		3,872,380			4,011,260
BANK LOANS		0			0
STOCK MARKET LOANS		0			0
OTHER LIABILITIES<br> WITH COST		0			0
DEFERRED TAX LIABILITIES		3,694,390			3,823,686
OTHER NON-CURRENT<br> LIABILITIES		1,264			2,083
DERIVATIVE<br> FINANCIAL INSTRUMENTS		0			0
DEFERRED<br> REVENUE		0			0
EMPLOYEE<br> BENEFITS		176,726			185,491
PROVISIONS		0			0
NON-CURRENT<br> LIABILITIES RELATED TO AVAILABLE FOR SALE ASSETS		0			0
DISCONTINUED<br> OPERATIONS		0			0
OTHER		0			0
TOTAL<br> EQUITY		51,308,412			50,022,475
EQUITY ATTRIBUTABLE<br> TO OWNERS OF PARENT		51,283,380			49,996,354
CAPITAL STOCK		2,832,268			2,832,268
SHARES REPURCHASED		-4,378,571			-4,355,320
PREMIUM ON ISSUANCE<br> OF SHARES		4,575,233			4,575,233
CONTRIBUTIONS FOR<br> FUTURE CAPITAL INCREASES		0			0
OTHER CONTRIBUTED<br> CAPITAL		0			0
RETAINED EARNINGS<br> (ACCUMULATED LOSSES)		47,015,954			47,015,954
LEGAL<br> RESERVE		0			0
OTHER<br> RESERVES		7,000,000			7,000,000
RETAINED<br> EARNINGS		42,600,584			38,101,948
NET<br> INCOME FOR THE PERIOD		1,456,301			4,498,636
OTHER		0			0
ACCUMULATED OTHER<br> COMPREHENSIVE INCOME (NET OF TAX)		(2,802,435	)		(2,711,825	)
GAIN<br> ON  REVALUATION OF PROPERTIES		0			0
ACTUARIAL<br> GAINS  (LOSSES) FROM LABOR OBLIGATIONS		0			0
FOREING<br> CURRENCY TRANSLATION		(2,774,728	)		(2,684,118	)
CHANGES<br> IN THE VALUATION OF FINANCIAL ASSETS AVAILABLE FOR SALE		0			0
CHANGES<br> IN THE VALUATION OF DERIVATIVE FINANCIAL INSTRUMENTS		0			0
CHANGES<br> IN FAIR VALUE OF OTHER ASSETS		0			0
SHARE<br> OF OTHER COMPREHENSIVE INCOME  OF ASSOCIATES AND JOINT VENTURES		(27,707	)		(27,707	)
OTHER<br> COMPREHENSIVE INCOME		0			0
NON-CONTROLLING INTERESTS		25,032			26,121

6

	ENDING CURRENT QUARTER		ENDING PREVIOUS YEAR
Informational<br> data (not a part of the STATEMENTS OF FINANCIAL POSITION)	Amount		Amount
SHORT-TERM<br> FOREIGN CURRENCY LIABILITIES		3,962,931		3,962,931
LONG-TERM FOREIGN<br> CURRENCY LIABILITIES		488,242		488,242
CAPITAL STOCK (NOMINAL)		2,420,230		2,420,230
RESTATEMENT OF CAPITAL<br> STOCK		412,038		412,038
PLAN ASSETS FOR PENSIONS<br> AND SENIORITY PREMIUMS		0		0
NUMBER OF EXECUTIVES<br> (+)		55		52
NUMBER OF EMPLOYEES<br> (+)		1,404		1,414
NUMBER OF WORKERS<br> (+)		2,800		2,794
OUTSTANDING SHARES<br> (+)		497,709,214		497,709,214
REPURCHASED SHARES<br> (+)		36,148,360		36,023,685
RESTRICTED CASH (1)		0		0
GUARANTEED DEBT OF<br> ASSOCIATED COMPANIES		0		0
(1)	This<br> concept must be filled when there are guarantees or restrictions that affect cash and cash<br> equivalents
---	---
(*)	Data<br> in units
---	---

7

BOLSA MEXICANA DE VALORES, S.A.B. DE C.V.
CLAVE<br> DE COTIZACION: SIMEC	QUARTER: 1	YEAR 2024
STATEMENTS OF COMPREHENSIVE INCOME
GRUPO SIMEC, S.A.B. DE C.V		CONSOLIDADO
(THOUSAND PESOS)
---	---	---	---	---	---	---	---	---	---	---	---	---
	CURRENT<br> YEAR						PREVIOUS<br> YEAR
ACCOUNT	ACCUMULATED			QUARTER			ACCUMULATED			QUARTER
REVENUE		7,885,458			7,885,458			12,825,351			12,825,351
SERVICES		0			0			0			0
SALE OF GOODS		7,885,458			7,885,458			12,825,351			12,825,351
INTERESTS		0			0			0			0
ROYALTIES		0			0			0			0
DIVIDENDS		0			0			0			0
LEASES		0			0			0			0
CONSTRUCTIONS		0			0			0			0
OTHER<br> REVENUE		0			0			0			0
COST OF SALES		5,876,404			5,876,404			9,618,422			9,618,422
GROSS<br> PROFIT		2,009,054			2,009,054			3,206,929			3,206,929
GENERAL EXPENSES		594,956			594,956			586,494			586,494
PROFIT<br> (LOSS) BEFORE OTHER INCOME (EXPENSE), NET		1,414,098			1,414,098			2,620,435			2,620,435
OTHER INCOME (EXPENSE),<br> NET		4,523			4,523			57,809			57,809
OPERATING<br> PROFIT (LOSS) (*)		1,418,621			1,418,621			2,678,244			2,678,244
FINANCE<br> INCOME		250,824			250,824			214,655			214,655
INTEREST<br> INCOME		250,824			250,824			214,655			214,655
GAIN<br> ON FOREIGN EXCHANGE, NET		0			0			0			0
GAIN<br> ON DERIVATIVES, NET		0			0			0			0
GAIN<br> ON CHANGE IN FAIR VALUE OF FINANCIAL INSTRUMENTS		0			0			0			0
OTHER<br> FINANCE INCOME		0			0			0			0
FINANCE<br> COSTS		103,799			103,799			1,330,552			1,330,552
INTEREST<br> EXPENSE		906			906			24,927			24,927
LOSS<br> ON FOREIGN EXCHANGE, NET		102,893			102,893			1,305,625			1,305,625
LOSS<br> ON DERIVATIVES, NET		0			0			0			0
LOSS<br> ON CHANGE IN FAIR VALUE OF FINANCIAL INSTRUMENTS		0			0			0			0
OTHER<br> FINANCE COSTS		0			0			0			0
FINANCE<br> INCOME (COSTS), NET		(147,025	)		(147,025	)		(1,115,897	)		(1,115,897	)
SHARE<br> OF PROFIT (LOSS) OF ASSOCIATES AND JOINT VENTURES		0			0			0			0
PROFIT<br> (LOSS) BEFORE INCOME TAX		1,565,646			1,565,646			1,562,347			1,562,347
INCOME TAX EXPENSE		110,131			110,131			531,034			531,034
CURRENT<br> TAX		117,910			117,910			530,764			530,764
DEFERRED<br> TAX		(7,779	)		(7,779	)		270			270
PROFIT<br> (LOSS) FROM CONTINUING OPERATIONS		1,455,515			1,455,515			1,031,313			1,031,313
PROFIT<br> (LOSS) FROM DISCONTINUED OPERATIONS		0			0			0			0
NET<br> PROFIT (LOSS)		1,455,515			1,455,515			1,031,313			1,031,313
PROFIT<br> (LOSS) ATTRIBUTABLE TO NON-CONTROLLING INTERESTS		(786	)		(786	)		(1,390	)		(1,390	)
PROFIT<br> (LOSS) ATTRIBUTABLE TO OWNERS OF PARENT		1,456,301			1,456,301			1,032,703			1,032,703
BASIC EARNINGS (LOSS) PER SHARE		2.93			2.93			2.07			2.07
DILUTED EARNINGS (LOSS) PER SHARE		0			0			0			0

8

OTHER COMPREHENSIVE<br> INCOME
(NET<br> OF INCOME TAX)
NET<br> PROFIT (LOSS)	1,455,515		1,455,515		1,031,313		1,031,313
DISCLOSURES<br> NOT BE RECLASSIFIED ON INCOME
PROPERTY REVALUATION<br> GAINS	0		0		0		0
ACTUARIAL<br> EARNINGS (LOSS) FROM LABOR OBLIGATIONS	0		0		0		0
SHARE<br> OF INCOME ON REVALUATION ON PROPERTIES OF ASSOCIATES AND JOINT VENTURES	0		0		0		0
DISCLOSURES<br> MAY BE RECLASSIFIED SUBSEQUENTLY TO INCOME
FOREING<br> CURRENCY TRANSLATION	(146,327	)	(146,327	)	(332,899	)	(332,899	)
CHANGES<br> IN THE VALUATION OF FINANCIAL ASSETS HELD-FOR-SALE	0		0		0		0
CHANGES<br> IN THE VALUATION OF DERIVATIVE FINANCIAL INSTRUMENTS
CHANGES<br> IN FAIR VALUE OF OTHER ASSETS	0		0		0		0
SHARE<br> OF OTHER COMPREHENSIVE INCOME OF ASSOCIATES AND JOINT VENTURES	0		0		0		0
OTHER COMPREHENSIVE<br> INCOME	0		0		0		0
TOTAL<br> OTHER COMPREHENSIVE INCOME	(146,327	)	(146,327	)	(332,899	)	(332,899	)
TOTAL<br> COMPREHENSIVE INCOME	1,309,188		1,309,188		698,414		698,414
COMPREHENSIVE<br> INCOME, ATTRIBUTABLE TO NON-CONTROLLING INTERESTS	(1,089	)	(1,089	)	(3,672	)	(3,672	)
COMPREHENSIVE<br> INCOME, ATTRIBUTABLE TO OWNERS OF PARENT	1,310,277		1,310,277		702,086		702,086
	CURRENT<br> YEAR				PREVIOUS YEAR
---	---	---	---	---	---	---	---	---
Informational data (not part of the statement)	ACCUMULATED		QUARTER		ACCUMULATED		QUARTER
OPERATING<br> DEPRECIATION AND AMORTIZATION		248,589		248,589		280,732		280,732
EMPLOYEE PROFIT SHARING<br> EXPENSE		0		0		0		0
	YEAR
---	---	---	---	---
Informative data (12 Months)	CURRENT		PREVIOUS
REVENUE<br> NET (**)		36,380,710		54,159,247
OPERATING PROFIT (LOSS)<br> (**)		6,559,924		12,090,531
PROFIT (LOSS) ATTRIBUTABLE<br> TO OWNERS OF PARENT(**)		4,864,705		6,052,838
NET PROFIT (LOSS) (**)		4,857,796		6,049,718
OPERATING DEPRECIATION<br> AND AMORTIZATION (**)		1,003,101		1,117,717
(*)	TO<br> BE DEFINED BY EACH COMPANY
---	---
(**)	INFORMATION<br> FOR THE LAST 12 MONTHS
---	---

9

BOLSA MEXICANA DE VALORES, S.A.B. DE C.V.
CLAVE<br> DE COTIZACION: SIMEC	YEAR 2024	QUARTER:1<br><br> <br>****
GRUPO SIMEC, S.A.B. DE C.V
STATEMENTS OF CASH FLOWS

(THOUSANDPESOS)

				CONSOLIDADO
	CURRENT<br> YEAR			PREVIOUS<br> YEAR
CONCEPTS	Amount			Amount
OPERATING ACTIVITIES
PROFIT<br> (LOSS) BEFORE INCOME TAX		1,565,646			1,562,347
+(-) ITEMS NOT REQUIRING<br> CASH		0			0
+ ESTIMATE FOR THE<br> PERIOD		0			0
+ PROVISION FOR THE<br> PERIOD		(8,766	)		0
+(-) OTHER UNREALISED<br> ITEMS		0			0
+(-) ITEMS RELATED<br> TO INVESTING ACTIVITIES		(2,235	)		66,077
DEPRECIATION AND<br> AMORTISATION FOR THE PERIOD		248,589			280,732
(-)+ GAIN OR LOSS<br> ON SALE OF PROPERTY, PLANT AND EQUIPMENT		0			0
+(-) LOSS (REVERSAL)<br> IMPAIRMENT		0			0
(-)+ EQUITY IN RESULTS<br> OF ASSOCIATES AND JOINT VENTURES		0			0
(-) DIVIDENDS RECEIVED		0			0
(-) INTEREST RECEIVED		(250,824	)		(214,655	)
(-) EXCHANGE FLUCTUATION		0			0
(-)+ OTHER INFLOWS<br> (OUTFLOWS) OF CASH		0			0
+(-) ITEMS RELATED<br> TO FINANCING ACTIVITIES		906			24,927
(+) ACCRUED INTEREST		906			24,927
(+) EXCHANGE FLUCTUATION		0			0
(+) DERIVATIVE TRANSACTIONS		0			0
(-)+ OTHER INFLOWS<br> (OUTFLOWS) OF CASH		0			0
CASH<br> FLOWS BEFORE INCOME TAX		1,555,551			1,653,351
CASH FLOWS FROM (USED<br> IN) OPERATING ACTIVITIES		(781,739	)		(1,291,959	)
+(-) DECREASE (INCREASE)<br> IN TRADE ACCOUNTS RECEIVABLE		(438,771	)		(1,528,422	)
+(-) DECREASE (INCREASE)<br> IN INVENTORIES		(420,472	)		973,487
+(-) DECREASE (INCREASE)<br> IN OTHER ACCOUNTS RECEIVABLE		(474,030	)		(70,924	)
+(-) INCREASE (DECREASE)<br> IN TRADE ACCOUNTS PAYABLE		36,082			(483,420	)
+(-) INCREASE (DECREASE)<br> IN OTHER LIABILITIES		515,452			(182,680	)
+(-) INCOME TAXES<br> PAID OR RETURNED		0			0
NET<br> CASH FLOWS FROM (USED IN) OPERATING ACTIVITIES		773,812			361,392
INVESTING<br> ACTIVITIES
NET CASH FLOWS FROM<br> (USED IN) INVESTING ACTIVITIES		(242,670	)		(492,943	)
(-) PERMANENT INVESTMENTS		0			0
+ DISPOSITION OF<br> PERMANENT INVESTMENTS		0			0
(-) INVESTMENT IN<br> PROPERTY, PLANT AND EQUIPMENT		(597,716	)		(1,087,885	)
+ SALE OF PROPERTY,<br> PLANT AND EQUIPMENT		0			0
(-) TEMPORARY INVESTMENTS		0			0
+ DISPOSITION OF<br> TEMPORARY INVESTMENTS		0			0
(-) INVESTMENT IN<br> INTANGIBLE ASSETS		0			0
+ DISPOSITION OF<br> INTANGIBLE ASSETS		0			0
(-) ACQUISITIONS<br> OF VENTURES		0			0
+ DISPOSITIONS OF<br> VENTURES		0			0
+ DIVIDEND RECEIVED		0			0
+ INTEREST RECEIVED		250,824			214,655
+(-) DECREASE (INCREASE)<br> ADVANCES AND LOANS TO THIRD PARTS		0			0
(-)+ OTHER INFLOWS<br> (OUTFLOWS) OF CASH		104,222			380,287
FINANCING<br> ACTIVITIES
NET CASH FLOWS FROM<br> (USED IN) FINANCING ACTIVITIES		(24,157	)		(33,413	)
+ BANK FINANCING		0			0
+ STOCK MARKET FINANCING		0			0
+ OTHER FINANCING		0			0
(-) BANK FINANCING<br> AMORTISATION		0			0
(-) STOCK MARKET<br> FINANCING AMORTISATION		0			0
(-) OTHER FINANCING<br> AMORTISATION		0			0
+(-) INCREASE (DECREASE)<br> IN CAPITAL STOCK		0			0
(-) DIVIDENDS PAID		0			0
+ PREMIUM ON ISSUANCE<br> OF SHARES		0			0
+ CONTRIBUTIONS FOR<br> FUTURE CAPITAL INCREASES		0			0
(-) INTEREST EXPENSE		906			24,927
(-) REPURCHASE OF<br> SHARES		23,251			8,486
(-)+ OTHER INFLOWS<br> (OUTFLOWS) OF CASH		0			0
NET<br> INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		506,985			(164,964	)
EFFECT<br> OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS		(18,913	)		(147,892	)
CASH AND CASH EQUIVALENTS<br> AT BEGINNING OF PERIOD		23,584,335			21,546,386
CASH<br> AND CASH EQUIVALENTS AT END OF PERIOD		24,072,407			21,233,530

10

					QUARTER:<br> 1		YEAR<br> 2024
BOLSA<br> MEXICANA DE VALORES, S.A.B. DE C.V.<br><br> <br><br><br>STATEMENTS<br> OF CHANGES IN EQUITY
CLAVE DE COTIZACION: SIMEC
GRUPO SIMEC, S.A.B. DE C.V
							(THOUSAND <br><br> PESOS)
CONCEPTS	CAPITAL<br> STOCK		SHARES<br> REPURCHASED		PREMIUM ON<br> ISSUANCE OF<br><br> SHARES		CONTRIBUTIONS<br><br> FOR FUTURE<br><br> CAPITAL<br><br> INCREASES
BALANCE<br> AT 1 JANUARY 2023		2,832,268		4,266,278		4,575,233
RETROSPECTIVE<br> ADJUSTMENTS
APPLICATION<br> OF COMPREHENSIVE INCOME  TO RETAINED EARNINGS
RESERVES
DIVIDENDS
CAPITAL<br> INCREASE (DECREASE)
REPURCHASE<br> OF SHARES				8,486
(DECREASE)<br> INCREASE IN PREMIUM ON ISSUE OF SHARES
(DECREASE)<br> INCREASE IN NON-CONTROLLING INTERESTS
OTHER<br> CHANGES						0
COMPREHENSIVE<br> INCOME
BALANCE<br> AT _31 MARCH 2023_________		2,832,268		4,274,764		4,575,233		0
BALANCE<br> AT 1 JANUARY 2024		2,832,268		4,355,320		4,575,233		0
RETROSPECTIVE<br> ADJUSTMENTS
APPLICATION<br> OF COMPREHENSIVE INCOME TO RETAINED EARNINGS
RESERVES
DIVIDENDS
CAPITAL<br> INCREASE (DECREASE)
REPURCHASE<br> OF SHARES				23,251
(DECREASE)<br> INCREASE IN PREMIUM ON ISSUE OF SHARES
(DECREASE)<br> INCREASE IN NON-CONTROLLING INTERESTS
OTHER<br> CHANGES						0
COMPREHENSIVE<br> INCOME
BALANCE<br> AT 31 DECEMBER 2023		2,832,268		4,378,571		4,575,233		0

11

	QUARTER: 1	YEAR 2024
BOLSA MEXICANA DE VALORES, S.A.B. DE C.V.<br><br> <br>STATEMENTS OF CHANGES IN EQUITY
CLAVE DE COTIZACION: SIMEC
GRUPO SIMEC, S.A.B. DE C.V
		(THOUSAND PESOS)
****	****	RETAINED EARNINGS (ACCUMULATED LOSSES)				****		****	****		****	****		****	****		****
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
OTHER CONTRIBUTED CAPITAL	****	RESERVES		UNAPPROPRIATED EARNINGS (ACCUMULATED LOSSES)		ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)		****	EQUITY ATTRIBUTALE TO OWNERS OF PARENT		****	NON- CONTROLLING INTERESTS		****	TOTAL EQUITY		****
(317,267	)		7,000,000		38,101,948		30,825			47,956,729			37,647			47,994,376
										(8,486	)					(8,486	)
384,645							(715,262	)		(330,617	)		(2,282	)		(332,899	)
					1,032,703					1,032,703			(1,390	)		1,031,313
67,378			7,000,000		39,134,651		(684,437	)		48,650,329			33,975			48,684,304
(27,707	)		7,000,000		42,600,584		(2,628,704	)		49,996,354			26,121			50,022,475
										(23,251	)					(23,251	)
							(146,024	)		(146,024	)		(303	)		(146,327	)
					1,456,301					1,456,301			(786	)		1,455,515
(27,707	)		7,000,000		44,056,885		(2,774,728	)		51,283,380			25,032			51,308,412

12

GrupoSimec, S.A.B. de C.V. and Subsidiaries

(Subsidiaryof Industrias CH, S.A.B. de C.V.)

Notesto the consolidated financial statements

1.	Nature of business and relevant events

Natureof business – The principal activities of Grupo Simec, S.A.B. de C.V. and subsidiaries (the Company) are the manufacture and sale of special bar quality “SBQ” commercial and profiles structural steel products for the automotive and construction industries both in Mexico, the United States (USA) and Canada. The Company is a subsidiary of Industrias CH, S.A.B. de C.V. (Industrias CH). The Company is a private company with limited liability incorporated and existing under the laws of Mexico. The address of its registered office and place of business is Calzada Lazaro Cardenas 601, Guadalajara, Jalisco, Mexico.

2.	Basis of preparation
a.	The consolidated financial statements- As result of the adoption of IFRS mentioned in note 1, consolidated financial statement, interim no audited, have<br> been prepared according to IAS 34, financial information interim, and are part of the first consolidated financial statement according<br> to IFRS, issued to the year ended December 31, 2012, for this reason we have adopted the disposition of IFRS 1, additionally , this<br> consolidated financial statement not include the information and disclosure required for annual financial statement according with<br> IFRS.
---	---

The Company has included recurring adjustment accounting estimates considered necessary for presentation of the consolidated financial statements interim no audited according to IAS 34. Comprehensive income for the fourth quarter ended December 31, 2012 is not necessarily an indicator of comprehensive income that could be expected for the year ended December, 31 2012.

The account policies applied to these financial statement are consistent with those applied to the consolidated financial statement at March 31, 2024.

The financial statements presented on this report were prepared under International Financial Reporting Standard (IFRS).

b.	Historic Cost- consolidated<br> financial statement have been prepared on the historical cost basis, except for certain financial instruments valued to fair value<br> which are valued to fair value. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
c.	Consolidated Base-consolidated financial statement include of Grupo Simec, S. A. B. de C. V. and the<br> entities (including special purpose entities) controlled by the company (its subsidiaries).<br> Control its obtained when the Company has the power to govern the financial and operating<br> policies of an entity to obtain benefits from its activities. The outcome of subsidiaries<br> acquired or sold during the year include in the consolidated statement of comprehensive income<br> from acquisition date or the date of sale, as the case. Comprehensive income is attributed<br> to both, the company and non-controlling interest even if the non- controlling present a<br> deficit.
---	---

If necessary, further adjustments are done on the financial statements of subsidiaries to adapt their accounting policies that are aligned with those used by other group members. All transactions, balances, income and expenses between companies that are consolidated are eliminated on consolidation.

13

The changes in investments in subsidiaries of the company that not resulting in a loss of control is recorded as equity transactions. The book value of investments and equity of the company controlled not adjusted to reflect changes in related investments in subsidiaries. Any difference between the amount for which share are adjusted not controlled and the fair value of consideration paid or received is recognized directly in equity and attributed to the owners of the company.

When the company loss control of a subsidiary, the gain or loss on disposal is computed as the difference between (i) the aggregate fair value of compensation received ant the fair value of any retained interest and (ii) the value prior books of the assets (including goodwill) and liabilities of the subsidiary and any non-controlling interest.

The amounts recognized in other comprehensive income items relating to the subsidiary are recorded (ie to income are reclassified or transferred directly to retained earnings) in the same manner established for the case of the availability of assets or liabilities relevant. The fair value of any investment retained in the former subsidiary at the date of loss of control is considered fair value for the initial recognition in subsequent accounting according to IAS 39 “Financial Instruments Recognition and Measurement”, or if applicable, the cost on initial recognition of an investment in an associate or under joint control entity.

Business acquisitions recorded using the purchase method. The consideration given for each acquisition are measured at fair value at the date of exchange, of assets given, liabilities incurred or assumed and equity instruments issued by the company in exchange for control of the acquire. Cost related to the acquisition is recognized in income incurred.

The identifiable assets acquired and liabilities assumed are recognized at the fair value at the acquisition date, except that:

-Assets and liabilities deferred income tax liabilities or assets and related agreements, employee benefits are recognized and valued in accordance with IAS 12, “Income tax and IAS 19, employee benefits, respectively;

-Liabilities or equity instruments related to the replacement by the Company acquired the business incentive base payments in shares, are valued in accordance with IFRS 2, “Share based payment” and.

The assets or group of assets for sale are classified as held for sale under IFRS 5, long term assets available for sale and discontinued operation, are valued pursuant with this standard.

Goodwill is recognized as an asset to the date on which control is acquired, the acquisition date and is valued as the excess of the amount of the consideration paid, plus the value of the non-controlling interest in the business acquired over the fair value of the acquired business share in the previously possessed, if any, on the net at the acquisition date of the identifiable assets acquired and liabilities assumed. If the value of these last is higher, the difference shall be recognized immediately in income as a gain from a bargain purchase.

The non-controlling interest on the acquired business should appraise initially at fair value or proportion of the non-controlling interest on the net value at the date of acquisition of the identifiable assets acquired and liabilities assumed. The choice of the basis of valuation of the non-controlling is done case by case.

When the consideration paid by the Company in a business acquisition includes assets or liabilities resulting from a contingent consideration, it is valued at its fair value at the acquisition date and include as part of the consideration paid.

Changes in the fair value of contingent consideration, which they describe as valuation period settings are adjusted against goodwill retrospectively determined.

14

The valuation period settings are settings that are determined as a result of information obtained during the “period of valuation”, which can´t exceed one year from the date of acquisition, on facts and circumstances that existed at the acquisition date. The record of changes in fair value subsequent to the period of valuation is based on the classification of contingent consideration in the statement of financial position. If the contingent consideration is classified as equity, changes in fair value not recorded and the variation may be seen as contingent consideration is recorded in liquid capital. If the contingent consideration is classified an asset or liability, changes in fair value are recognized in accordance with IAS 39 “Financial Instruments Recognition and Valuation, or IAS 37, Provisions. Contingent Liabilities and Contingent assets, as appropriate, and corresponding gain or loss is recorded in the utility.

The initial recognition of business acquisition is not completed at the end of the reporting period, in which acquisition occurs, the Company reported provisional amounts for the items whose recognition is incomplete. During the period of valuation, the Company recognizes adjustments to provisional amounts recognized asset or liability or additional requirements to reflect new information obtained about facts and circumstances that existed at the acquisition date, which if known, would have affected the valuation of amounts recognized at that time.

At March 31, 2024 the subsidiaries of Grupo Simec, S. A. B. de C. V. included in the consolidation are as follows.

	Percentage<br> of equity owned
Subsidiaries<br> established in Mexico:	2024			2023
Compañía<br> Siderúrgica de Guadalajara, S.A. de C.V.		99.99	%		99.99	%
Arrendadora<br> Simec, S.A. de C.V.		100.00	%		100.00	%
Simec<br> International, S.A. de C.V.		100.00	%		100.00	%
Compañía<br> Siderúrgica del Pacífico, S.A. de C.V.		99.99	%		99.99	%
Coordinadora<br> de Servicios Siderúrgicos de Calidad, S.A. de C.V.		100.00	%		100.00	%
Industrias<br> del Acero y del Alambre, S.A. de C.V.		99.99	%		99.99	%
Procesadora<br> Mexicali, S.A. de C.V.		99.99	%		99.99	%
Servicios<br> Simec, S.A. de C.V.		100.00	%		100.00	%
Sistemas<br> de Transporte de Baja California, S.A. de C.V.		100.00	%		100.00	%
Operadora<br> de Servicios Siderúrgicos de Tlaxcala, S.A. de C.V.		100.00	%		100.00	%
Operadora<br> de Metales, S.A. de C.V.		100.00	%		100.00	%
Administradora<br> de Servicios Siderúrgicos de Tlaxcala, S.A., de C.V.		100.00	%		100.00	%
CSG<br> Comercial, S.A. de C.V.		99.95	%		99.95	%
Corporativos<br> G&DL S.A. de C.V.(1)		100.00	%		100.00	%
Operadora<br> de Servicios de la Industria Siderúrgica ICH, S.A. de C.V.		100.00	%		100.00	%
Corporación<br> Aceros DM, S. A. de C. V. y Subsidiarias (3)		100.00	%		100.00	%
Acero<br> Transportes San, S. A. de C. V. (3)		100.00	%		100.00	%
Simec<br> Acero, S.A. de C.V.		100.00	%		100.00	%
Corporación<br> ASL, S. A. de C. V. (1)		99.99	%		99.99	%
Simec<br> International 6, S. A. de C. V. (1)		100.00	%		100.00	%
Simec<br> International 7, S. A. de C. V. (1)		99.99	%		99.99	%
Simec<br> International 9, S. A. P. I. de C.V.		99.99	%		99.99	%
Orge,<br> S.A. de C.V.		99.99	%		99.99	%
Siderurgica<br> de Occidente del Pacifico, S.A. de C.V.		99.99	%		99.99	%
RRLC,<br> S.A DE C.V.		99.99	%		99.99	%
Republic Steel(5)		99.41	%		99.41	%
Pacific<br> Steel, Inc. (5)		100.00	%		100.00	%
Pacific<br> Steel Projects, Inc. (5)		100.00	%		100.00	%
Simec<br> Steel, Inc. (5)		100.00	%		100.00	%
Simec<br> USA, Corp. (5)		100.00	%		100.00	%
Undershaft<br> Investments, NV. (6)		100.00	%		100.00	%
GV<br> do Brasil Industria e Comercio de Aco LTDA (7)		100.00	%		100.00	%
Companhia<br> Siderúrgica do Espirito Santo S.A.(11)		100.00	%		100.00	%
GS<br> Steel B.V		100.00	%		100.00	%
(1)	Entities<br> established in 2010.
---	---
(2)	Entities<br> that change their address and fiscal authority, to the state of California, USA through 2011.<br> Since the change, the main activity of this entities is the acquisition of new business or<br> projects (Investment funds).
---	---

15

(3)	This<br> Subsidiaries are located in San Luis Potosi, in Mexico, which were acquired by Grupo Simec,<br> S.A.B. de C.V. in 2008. For effects of these Financial Statements, this companies are named<br> as ”Grupo San”.
(4)	The<br> parent Company ICH it’s the owner of 00.59% of capital stock of this subsidiaries.
---	---
(5)	Companies<br> established in the United States of America, except for one facility that is established<br> in Canada.
---	---
(6)	Subsidiary<br> established in Curacao.
---	---
(7)	Subsidiary<br> established in Brazil. (See paragraph k, below)
---	---
d	Cost<br> and Expenses Classification - Are presented its function due the practice of industry belong<br> the Company.
---	---
3.	Summary of significant account policies.
---	---
a.	Conversion of financial Statement of Foreign Subsidiaries
---	---

As a result of early adoption of IFRS as mentioned in Note 1, the financial statements have been prepared in accordance with IFRS-1, First-timeAdoption of International Financial Reporting Standards.

The functional and reporting currency of the Company is the Mexican peso. The financial statements of foreign subsidiaries were translated to Mexican pesos in accordance with International Accounting Standard (IAS) 21, “The Effects of Changes in Foreign ExchangeRates”. Under this standard, the first step to convert financial information from foreign operations is the determination of the functional currency. The functional currency is the currency of the primary economic environment of the foreign operation or, if different, the currency that mainly impacts its cash flows.

The U.S. dollar is considered as the functional currency of the U.S. subsidiaries, SimRep Corporation and Subsidiaries, Inc (Republic) and Pacific Steel Inc. and the Brazilian real for GV do Brasil Industria e Comercio de Aco LTDA., therefore the financial statements of these subsidiaries were translated into Mexican pesos by applying:

a.	The exchange rates at the<br> balance sheet date to all assets and liabilities.
b.	The historical exchange<br> rate at stockholders’ equity accounts and revenues, costs and expenses.
---	---

Relevant exchange rates used in the preparation of the consolidated financial statements were as follows (Mexican pesos per one U.S. dollar):

Current exchange rate as of March 31, 2024	16.6780
Current exchange rate as of June 30, 2023	17.1187
Current exchange rate as of September 30, 2023	17.61957
Current exchange rate as of December  31, 2023	16.8935

16

b.	Cash and cash equivalents

Cash consists of deposits in bank accounts that do not generate interest. Cash equivalents consists in temporary investments refer to short- term fixed income investments whose original maturity is less than three months. These investments are expressed at cost plus accrued yields. The value so determined is similar to their fair value

c.	Allowances for doubtful accounts

The Company follows the practice of recording an estimation of an allowance for doubtful accounts, which is computed considering the balance of customer with age higher than one year, those under litigation or the possible loss for non-fulfillment of the customer. Actual result may differ materially from these estimates in the future.

d.	Inventories and cost of sales

Inventories are recorded at the lower of acquisition cost and production, which cost do not exceed the market value or net realizable value. The allocation of cost used is the average cost method. The net realization value represent the estimated selling price for inventories less all costs to complete all necessary costs and for sale.

The Company classifies the raw materials inventory on the balance according to the expected date of consumption but she represented as long term inventory who according to historical data and trends, are not consumed in the short term (one year).

The Company follows the practice of creating a reserve for slow moving inventory, considering all of products and raw materials with turnover greater than one year.

e.

Property Plant and equipment-<br> Are recorded at cost less any recognized impairment loss. The cost include professional fees and, for qualifying assets, borrowing<br> costs capitalized in accordance with the accounting policies of the Company. Depreciation is recognized for writing off the cost<br> of assets (other than land and properties under construction) less its residual value over their useful lives using the straight-line<br> method, and commences when the assets are ready for their intended use. The estimated useful-lives, residual values and depreciation<br> method are reviewed at the end of each year, and the effect of any change in the estimate recorded is recognized on a prospective<br> basis.

Land is not depreciated.

Property, plant and equipment fail to recognize when they are available or when no future economic benefits expected from its use. The gain or (loss) arising on the disposal or retirement of assets, is the difference between income from the sale and book value of the asset and is recognized in income.

17

The estimated useful lives of the main assets of the Company are:

	Years
Buildings		10<br> to 65
Machinery and equipment		5<br> to 40
Transportation equipment		4
Furniture, mixtures and computer equipment		3<br> to 10
f.	Leasing- Leases<br> are classified as financial leases when the terms of the lease transfer substantially all the risk and benefits inherent to ownership.<br> All other lease transfer classified as operating leases.
---	---

The assets held under finance leases are recognized as assets of the Company at their fair value at inception of the lease, or if lower, the present value of minimum lease payments. The corresponding liability to the lessor is included in the statement of financial position as a finance lease liability.

Lease payments are apportioned between the finance charge and the reduction of lease obligation in order to achieve a constant interest rate on the remaining balance of the liability. Finance cost are charged directly to income, unless they can be directly attributable to qualifying assets, in which case it is capitalized in accordance with the general policy of the Company for borrowing costs. Contingent rents are recognized as expenses in the period incurred.

Income payments under operating leases are charged to expense using the straight line method during the period corresponding to the lease, but is more representative of another systematic basis is more representative of the pattern of the benefits of leasing for the user. Contingent rents are recognized as expenses in the period incurred.

If the Company receives incentives to enter an operating lease, these are recognized as a liability and the added benefit of them is recognized as a reduction of rental expenses on a straight-line basis, unless it sis representative as another systematic basis is more representative of the pattern of benefits to the user.

g.	Borrowing Cost.<br> Borrowing costs directly attributable to the acquisition construction or production of qualifying assets, which are assets that require<br> a substantial period of time until ready for use or sale, are added to the cost of those assets during that time until they are ready<br> for use or sale.

The income obtained by the temporary investment of specific borrowings pending funds to be used in qualifying assets is deducted from the borrowing costs eligible for capitalization.

All other borrowing cost are recognized in income during the period they are incurred.

h.

Intangible assets-<br> Intangible assets with finite useful- lives acquires separately are recorded at cost less accumulated amortization and accumulated<br> impairment losses. Amortization is based on the straight-line method over their estimated useful lives. The estimated useful lives,<br> residual value and amortization method are reviewed at the end of each year, and the effect of any change in the estimate recorded<br> is recognized on a prospective basis. Intangibles assets with as indefinite useful life acquired separately are recognized at cost<br> less accumulated impairment losses.

Disbursements arising from research activities are recognized as an expense in the period in which incurred.

18

An internally generated intangible asset arising out of activities of development (or from the development phase of an internal project) is recognized if and only if all the following have been demonstrated.

-	Technical<br> feasibility of completing the intangible asset so that may be available for use or sale,
-	The<br> intention of completing the intangible asset and use or sell it,
---	---
-	The<br> ability to use or sell the intangible asset,
---	---
-	The<br> manner in which the intangible asset will generate probable future economic benefits,
---	---
-	The availability of adequate<br> technical, financial or otherwise , to complete the development and use or sell the intangible asset, and
---	---
-	The ability to value reliably<br> the expenditure attributable to the intangible asset during its development.
---	---

The amount initially recognized for internally generated intangible asset is the sum of expenditure incurred from the time that the item meets the conditions for recognition set out above. When you can´t recognize an internally generated intangible asset, the development expenditure is expensed in the period incurred Subsequent to initial recognition, internally generated intangible asset is recognized at cost less accumulated depreciation and any accumulated impairment losses, on the same basis intangibles assets acquired separately.

When an intangible asset acquired in a business combination and recognized separately from goodwill, its cost is its fair value at the acquisition date (which is considered as its cost). Subsequent to initial recognition, an intangible asset acquired in a business combination are recognized at cost less accumulated depreciation and any accumulated impairment losses, on the same basis as intangible assets acquired separately.

An intangible asset is left to recognize when it is available or when no future economic benefits are expected to use. The gain or (loss) obtained arising from the lowering of intangible, calculated as the difference between the net disposal proceeds and its carrying amount is recognized in earnings.

i.	Goodwill-<br> Goodwill arising from a business combination is recognized as an asset at the date on which control is acquired (acquisition date)<br> less accumulated impairment losses. For purposes of assessing impairment, goodwill is allocated to each cash generating units of<br> the Company expects to benefit from the synergies of this combination. The cash generating units to which goodwill is allocated are<br> subject to impairment reviews annually, or more frequently if there is an indication that the unit may be impaired. If the recoverable<br> amount of the cash generating units less than the carrying amount of the unit, the impairment loss is allocated first to reduce the<br> carrying amount of the unit, based on the carrying amount of each asset in the unit. The impairment loss recognized for goodwill<br> purposes can´t be reversed at a later period. Having a cash generating unit, the amount attributable to goodwill is included<br> in determining the gain or loss on disposal.
j.	Impairment of tangible and intangible assets excluding goodwill- To the end of each year, the Company reviews the carrying amounts of its<br> tangible and intangible assets to determine whether there is an indication that those assets have suffered any loss deterioration.<br> If there is any indication, we calculate the assets have recoverable amount to determine the extent of the impairment loss (if any).<br> When it is not possible to estimate the recoverable amount of an individual asset, the Company estimate the recoverable amount of<br> the cash generating unit to which the asset belong. When you can identify a reasonable and consistent distribution of corporate assets<br> are also allocated to individual cash generating units, or otherwise, are assigned to the smallest group of cash generating units<br> for which can be identified based reasonable and consistent distribution. Intangible assets with an indefinite useful life or not<br> yet available for use, are subjected to test for purposes of impairment at least annually and whenever there is an indication that<br> the asset may be impaired. The recoverable amount is the higher of fair value less cost to sell and value in use. In assessing value<br> in use, the estimated future cash flows are discounted to their present value using a discount rate before tax that reflects current<br> market assessments of the value of money and the risks specific to the asset for which have not been adjusted estimates of future<br> cash flows. If it is estimated that the recoverable amount of an asset (or cash generating unit) is less than its carrying amount,<br> the carrying amount of the asset (cash generating unit) is reduced to its recoverable amount. Impairment losses are recognized immediately<br> in profit or loss unless the assets is carried at revalued amount, in which case should be considered an impairment loss as a revaluation<br> decrease, where an impairment loss subsequently reverses, the carrying amount of the asset (cash generating unit) is increased to<br> the revised estimated recoverable amount, so that the increased carrying amount does not exceed the carrying amount is have not been<br> determined whether an impairment loss recognized for the asset (or cash generating unit) in prior years. A reversal of an impairment<br> loss is recognized immediately in profit or loss unless the assets is recognized to an amount revalued in which case the reversal<br> of the impairment loss is treated as a revaluation increase.
---	---

19

k.	Provisions -. Provisions are recognized when the Company has a present obligation (legal or assumed) as a result of past events, if it is<br> likely that the Company has to liquidate the obligation and reliable estimate can be made of the amount of the obligation.

The amount recognized as a provision is the best estimate of the expenditure required to settle the present obligation at the end of the reporting period under review, taking into account the risk and uncertainties that surround obligation. When a provision is valued using cash flows estimated to settle the present obligation, its carrying amount represent the present value of those cash flows.

When expected to recover from a third party of some or all the economic benefits required to settle a provision is recognized a receivable as an asset if it is virtually certain to be received the disbursement and the amount of the receivable can be valued reliably.

l.	Cost of retirement benefits.<br> Contributions to benefit plans to defined contribution retirement are recognized as expenses at the time the employees render the<br> services that entitle them to the contributions.

In the case of defined benefit plans, the cost of such benefits are determined using the projected unit credit method, with actuarial valuation carried out at the end of each period being reported. Gain and losses that exceed 10% of the greater of the present value of defined benefit obligations of the Company and the fair value of plan assets at the end of last year, are amortized over the estimated average remaining working lives of employees participating in the plan. The past service costs are recognized immediately to the extent that benefits are acquired otherwise, are amortized using the straight-line method over the average period until the benefits become acquired.

The retirement benefit obligation recognized in the statement of financial position represent the present value of defined benefit obligation, adjusted for gains and losses not recognized and the costs of unrecognized past service, less the fair value of the plan assets. Any asset that arises from this calculation is limited to unrecognized actuarial losses and past service cost, plus the present value of reimbursements and reductions in future contributions to the plan.

m.	Income per share-<br> Earnings per share are calculated by dividing net income controlling interest by the weighted average of common shares outstanding<br> for each of the periods presented.
n.	Income Taxes. Expense<br> for income taxes represent the sum of the resulting income taxes payable and deferred income tax.
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CurrentIncome Tax- The current income tax is the higher income tax (ISR) and the flat rate business tax (Flat Tax) and is recognized in income in the year they are incurred. The income tax payable is based on fiscal profits and cash flows of each year respectively. The fiscal profit differs from profit reported in the consolidated statement of comprehensive income due to items of income or expenses taxable and deductible in other years and items that are never taxable or deductible. The company´s liability for taxes due is computed using tax rates enacted or substantially approved at the end of the period over which it is reported.

DeferredIncome Tax- The company determined, based on financial projections, determine whether ISR or Flat Tax in the future and recognize the corresponding deferred tax on the tax it paid. Deferred tax is recognized temporary differences between the carrying amount of assets and liabilities included in the financial statements and the corresponding tax base used to determine the tax profit, using the liability method. The deferred tax liability is generally recognized for all temporary tax differences. It recognizes a deferred tax asset, because of all deductible temporary differences, as far as is probable that the future taxable profits available against which to apply those deductible temporary differences. These assets and liabilities are not recognized if temporary differences arise from goodwill or the initial recognition (other than the business combination) of other assets and liabilities in a transaction that affects neither the tax profit accounting profit.

20

The carrying value of deferred tax asset should be reviewed at the end of each year and should be reduced to the extent deemed unlikely to have sufficient taxable profits to allow it to recover all or a portion of the asset.

Assets and deferred tax liabilities are computed using tax rates expected to apply in the period when the liability is paid or the asset is realized, based on the rates (and tax act) that have been approved or substantially approved the end of the reporting period under review. The valuation of liabilities and deferred tax assets reflects the tax consequences that would result from the way the Company expects, at the end of the reporting period under review, to recover or settle the carrying amount of assets and liabilities.

It also recognizes a deferred tax asset for the estimated future effects of tax loss carry-forwards and tax credits recoverable asset. It records a valuation allowance to reduce the balance of deferred tax assets to the amount of future net benefits are more likely than not they do.

Deferred tax assets and deferred tax liabilities are offset when there is a statutory right to offset short-term assets with short term liabilities as they relate to income taxes for the same taxation authority and the Company intends to liquidate its assets and liabilities en a net basis.

Currentincome tax and deferred income tax period. Current and deferred are recognized as income or expense in profit or loss, except when related items that are recognized out of the income, either in other comprehensive income or (loss) or directly in equity, in which case the tax is also recognized outside of the outcome, or when arising on initial recognition of a business combination.

Intereston balance recoverable taxes- Interest on tax receivables balances are presented in the consolidated statement of comprehensive income as interest income.

IncomeTax in the interim period - The income tax is recorded in the interim period based on the estimated annual effective rate.

o

Foreign currency transaction-<br> In preparing the financials statements of individual entities, transaction in currencies other than the entity´s functional<br> currency (foreign currencies) are recorded using exchange rates prevailing at the dates on which operations are carried out. At the<br> end each reporting period, monetary items denominated in foreign currency are converted at exchange rates prevailing at that time.

The exchange rate differences are recognized in the income statement except:

-	Foreign<br> exchanges differences from foreign currency denominated loans relate to assets under construction for future productive use, which<br> are included in the cost of those assets when considered as an adjustment to interest cost on loans denominated in foreign currency,
-
---
-	Differences<br> on exchange derived from transaction related to hedging exchange rate risks, and
---	---
-
---
-	Differences<br> in exchange rate from monetary items receivable from or payable to a foreign operation for which it is planned or is it possible<br> to make a payment (forming part of the investment in foreign operations), which are initially recognized in other comprehensive income<br> and reclassified from equity to profit or loss when selling all or part of investment.
---	---
-
---

21

p.	Financial Instruments – assets and liabilities are recognized when the Company is part of the contractual provisions of the instrument.

The assets and liabilities are measured initially at fair value. Transaction costs that are directly attributable to the acquisition or issue of financial assets and liabilities are increased or decreased from its fair value, as appropriate, on initial recognition, the transaction costs directly attributable to the acquisition of assets or liabilities at fair value through income is recognized immediately in earnings.

q.

Financial assets- Financial assets are classified into the following specific categories, “financial assets at fair value through<br> income”, “preserved at maturity investment”, “financial assets available for sale” and loans and charge<br> receivable. The classification depends on the nature and purpose of financial assets and is determined at the time of initial recognition.<br> All financial assets are recognized and unknown on trade date where purchase or sale of financial assets is under a contract whose<br> terms require delivery of the asset during a period which is usually set by the relevant market.

The method of the effective interest rate is a method of computed the amortized cost of a financial instrument and of allocating interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts including all fees on points based on interest paid or received that form an integral of the effective interest rate, transaction costs and other premiums or discounts over the expected life of the debt or financial instrument (where appropriate) in a shorter period, with the carrying amount on initial recognition.

The Company has no financial assets classified as “financial assets at fair value through income”, “preserved at maturity investments” or “financial assets available for sale”,

Accounts receivable, loans and other receivable with fixed or determinable payments that are not trade in an active market are classified as loans and receivable. Loans and receivables are stated at amortized cost using the effective interest method, less any impairment.

Financial assets other than financial assets at fair value through income, are subject testing for effects of impairment at the end of each period which is reported. It is considered that financial assets are impaired when there is objective evidence that as a result of one or more events that occurred after initial recognition of financial asset, the estimated future cash flows of the financial assets have been affected.

The estimates and underlying assumption are reviewed on a regular basis. The reviews at accounting estimates are recognized in the period of the review and future periods if the review affects both current period and to subsequent periods.

Objective evidence of impairment could include:

-	Significant<br> financial difficulties of the issuer or counterparty, or
-	Non-payment<br> of interest or principal, or
---	---
-	It<br> is likely that the borrower will enter bankruptcy of financial reorganization, or
---	---
-	The<br> disappearance of an active market where quoted by the financial asset because of financial difficulties.
---	---
-
---

For certain categories of financial assets such as accounts receivables, assets that have been subjected to testing for effects impairment and have not been impaired as individual, are included in the evaluation of impairment on a collective basis. Among the objective evidence that a portfolio of accounts receivable may be impaired, you could include the past experience of the Company with respect to the collection, an increase in the number of last payments in the portfolio in excess of the average credit period of 60 days as well as changes observable in national and local economic conditions that correlate with default on payments.

For financial assets carried at amortized cost, the amount of impairment loss recognized is the difference between the book value of assets and present value of future cash receipts discounted at the original effective interest rate of the asset financial.

22

The carrying value of financial assets is reduced by the impairment loss directly for all financial assets except for accounts receivable, where the carrying amount is reduced through an account estimate for doubtful accounts. When you consider that a receivable is uncollectible, it is removed from the estimate. The subsequent recovery of amounts previously deleted become claims against the estimate. Changes in the carrying value of the account of the estimate is recognized in income.

Except for equity instruments available for sale, if, in a subsequent period, the amount of the impairment loss decreases and this decrease can be related objectively to an event that occurs after recognition of impairment, impairment loss previously recognized is reversed through income to the extent that the carrying amount of investment to date reversed the impairment does not exceed the amortized cost would have been if he had not recognized the damage.

The company fails to recognize a financial asset only when the contractual rights on the cash flows of financial assets, and transfers substantially all the risk and benefits inherent to the ownership of financial assets. If the Company neither transfer not retains substantially all the risks and benefits inherent to the ownership and continues to retain control of the asset transferred, the Company recognizes its interest in the asset and liability associated to the amounts that would have to pay. If the Company retains substantially all risks and benefits inherent in ownership of transferred financial asset, the Company continues to recognize the financial asset and also recognizes collateral for loan funds received.

When fully unknown a financial asset, the difference in value of the asset and the amount of the consideration received and the cumulative gain or loss that has been left to recognize in other comprehensive income (loss) and accumulated in the equity is recognized in income.

Not knowing a financial asset in part (where the Company retains the option to repurchase part of a transferred asset, or retains a residual interest that does not result in the retention of substantial risk and benefits property and the company retains control), the Company distributed the previous value of the asset financial between the part that continues to be recognized and the part no longer recognized based on the fair value of those parts of the date of transfer. The difference between the carrying amount allocated to the party is no longer recognized and the amount of the consideration received by such party, and any cumulative gain or loss allocated to it has been recognized in other comprehensive income (loss) will be recognized in income.

s.

Financial liabilities – debt and equity instruments issued by the Company are classified as either financial liabilities or equity<br> in accordance with the substance of the contractual arrangements and the definition of a financial liability and equity instrument.<br> Financial liabilities are classified either as “financial liabilities at fair value through income “or” other financial<br> liabilities”-

Financial liability at fair value through income is a financial liability is classified as held trading or is designated as fair value through income.

A financial liability is classified as held for trading if:

-	Is<br> acquired principally for the purpose of repurchasing in the near future, or,
-	On<br> initial recognition is part of identified financial instruments that are managed together and for which there is evidence of a recent<br> pattern of making short-term profits, or
---	---
-	It<br> is a derivative not designed as hedges and meet the conditions to be effective.
---	---

A financial liability other than a financial liability held for trading may be designated as an financial liability at fair value through profit or loss upon initial recognition if:

-	This<br> eliminates or significantly reduces an inconsistency in the valuation or recognition that would otherwise arise, or

23

-	The<br> performance of a group of financial assets, financial liabilities or both is managed and evaluated on the basis of fair value, according<br> to an investment strategy or risk management that the entity´s documented, and provide internally about that group, based on<br> their fair value or,
-	Part<br> of a contract containing one or more embedded derivatives, and IAS 39, Financial instruments Recognition and Measurement, allow the<br> entire hybrid contract (asset or liability) is designated as at fair value through income.
---	---

Financial liabilities at fair value through income are recorded at fair value recognize any gain or loss arising from the remediation in the income statement. The gain or loss recognized in the statement include any dividend or interest earned from the financial asset and is included under the heading “other gains and losses” in the statement of comprehensive income.

Other financial liabilities, including loans, are valued initially at fair value, net of transaction costs. The method of effective interest rate is a method of calculating the amortized cost of a financial liability and of allocating interest expense over the relevant period. The effective interest rate is the rate exactly discounts estimated cash payments over the expected life of the financial liability (or, where appropriate, a short period) to the carrying amount financial liabilities on initial recognition.

The Company writes off financial liabilities if and only if, the Company´s obligations are fulfilled, cancelled or expire. The difference between the carrying amount of financial liability discharged from and the consideration paid and payable is recognized in earnings.

---

t	Derivative financial instruments – The Company uses derivative financial instruments to manage<br> its exposure to risk in the changes in natural gas prices, which is used for production,<br> conducting studies on historical volumes, future requirements or commitments, reducing the<br> exposure to risks outside the normal operation of the Company.

Derivatives are initially recognized at fair value at the date the derivative contract subscribe and then remiden at fair value at the end of the reporting period. The gain or loss is recognized in income immediately unless the derivative is designated and is effective as a hedging instrument, in which case the timing of the recognition results depend on the nature of the hedging relationship.

In order to mitigate the risks associated with fluctuations in the price of natural gas, whose price is based on supply and demand from major markets, the Company uses exchange contracts or swaps cash flow of natural gas, where price the Company receives floating and pays fixed price. Fluctuations in the price of this energy input from consumed volumes are recognized as part of the operating costs of the Company.

At the beginning of the hedging relationship, the Company documents the relationship between the hedging instrument and hedged item, along with its risk management objective and strategy of hedging transactions. Additionally, the inception of the hedge and on an ongoing basis, the Company documents whether the hedging instrument is highly effective in offsetting the exposure to change in fair value or changes in cash flows of the hedged item.

The effective portion of changes in the fair value of derivatives that are designated and qualify as cash flows hedges is recognized in other comprehensive income and accumulated under the title of the fair value of derivative financial instruments, net of profit taxes. Gains and losses on the ineffective portion of the hedging instrument is recognized instrument is recognized immediately in income, and is included in other income (expense)

The Company periodically assesses the changes in cash flows from derivative financial instruments to analyze if the swaps are highly effective in reducing exposure to fluctuations in the price of natural gas. A hedging instrument is considered highly effective when changes in fair value or cash flows of the primary position are compensated on a regular basis or as a whole, by changes in the fair value or cash flows of the hedging instrument in a range between 80% and 125%.

24

Amounts previously recognized in other comprehensive income and accumulated in equity are reclassified to earning in the periods when the hedged item is recognized in income in the same area of the statement of comprehensive income of hedged item recognized. However, when a forecast transaction that is covered gives rise to the recognition of a non-financial asset or liability is not financial gain or loss previously accumulated in equity are transferred and include in the initial valuation of the cost of the asset does not financial or nonfinancial liabilities.

Hedge accounting is discontinued when the Company reverses the hedging relationship, when the hedging instrument expires or is sold, terminated, or exercised, or no longer meets the criteria for hedge accounting. Any cumulative gain or loss on the hedging instrument that is recognized in equity remain in equity until the forecast transaction is ultimately recognized in the results. When no longer expects the forecast transaction occurs, the cumulative gain or loss in equity is immediately reclassified the results.

u.	Revenue recognition – Revenue is recognized in the period in which transfer<br> the risks and benefits of inventories to customer who purchased them, which usually coincides<br> with the delivery of products to customers in fulfilling their orders. Net sales represent<br> the goods sold at list price, less returns received and discounts.
V.	Segments Information – Segment information is presented in accordance with the<br> region and due to the operation business is presented in accordance with the information<br> used by management for decision making purposes.
---	---
w.	Earnings (loss) per share<br><br> <br>Income<br> per share is calculated by dividing controlling net income or loss, by the weighted average<br> shares outstanding during each year presented.
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25

BOLSA MEXICANA DE VALORES, S.A.B. DE C.V.
CLAVE DE COTIZACION:<br> SIMEC	QUARTER: 1	YEAR 2024
GRUPO SIMEC, S.A.B. DE C.V		CONSOLIDADO
INVESTMENTS IN ASSOCIATES AND JOINT VENTURES
(THOUSAND PESOS)
						TOTAL<br> AMOUNT
---	---	---	---	---	---	---	---	---	---
COMPANY<br> NAME	PRINCIPAL<br> ACTIVITY	NUMBER<br> OF<br><br> SHARES		%<br><br> OWNERSHIP		ACQUISITION<br><br> COST		CURRENT<br><br> VALUE
SIMEC<br> INTERNATIONAL	FABRICACION Y VENTA DE PROD. DE<br> ACERO		0		99.99		0		0
ARRENDADORA<br> SIMEC	FABRICACION Y VENTA DE PROD DE ACERO		0		100.00		0		0
PACIFIC<br> STEEL	COMPRA VENTA DE CHATARRA		0		100.00		0		0
CIA<br> SIDERURGICA DEL PACIFICO	ARRENDADORA DE INMUEBLES		0		99.89		0		0
COORDINADORA<br> DE SERVICIOS	PRESTACION DE SERVICIOS		0		100.00		0		0
INDUSTRIA<br> DEL ACERO Y EL ALAMBRE	FABRICACION Y VENTA DE PROD DE ACERO		0		99.99		0		0
PROCESADORA<br> MEXICALI	COMPRA VENTA DE CHATARRA		0		99.99		0		0
SERVICIOS<br> SIMEC	PRESTACION DE SERVICIOS		0		100.00		0		0
SISTEMAS<br> DE TRANSPORTE DE BAJA CALIFORNIA	TRANSPORTISTA		0		100.00		0		0
OPERADORA<br> DE METALES	PRESTACION DE SERVICIOS		0		100.00		0		0
OPERADORA<br> DE SERVICIOS SIDERURGICOS DE TLAXCALA	PRESTACION DE SERVICIOS		0		100.00		0		0
ADMINISTRADORA<br> DE SERV SIDERURGICOS DE TLAXCALA	PRESTACION DE SERVICIOS		0		100.00		0		0
REPUBLIC<br> STEEL	FABRICACION Y VENTA DE PROD DE ACERO		0		99.41		0		0
OPERADORA<br> DE SERV DE LA INDUSTRIA SIDERURGICA	PRESTACION DE SERVICIOS		0		100.00		0		0
CSG<br> COMERCIAL	COMPRA VENTA DE PROD DE ACERO		0		99.95		0		0
COORPORACION<br> ACEROS DM	SUB-HOLDING		0		99.99		0		0
COMERCIALIZADORA<br> ACEROS DM	COMPRA VENTA DE PROD DE ACERO		0		100.00		0		0
PROMOTORA<br> ACEROS SAN LUIS	COMPRA VENTA DE PROD DE ACERO		0		100.00		0		0
UNDER<br> SHAFT	SUB-HOLDING		0		100.00		0		0
PROCESADORA<br> INDUSTRIAL	PRESTACION DE SERVICIOS		0		99.99		0		0
CORPORATIVOS<br> G&DL	PRESTACION DE SERVICIOS		0		100.00		0		0
ACERO<br> TRANSPORTE SAN	TRANSPORTISTA		0		100.00		0		0
SIMEC<br> INTERNATIONAL 6	FABRICACION Y VENTA DE PROD DE ACERO		0		99.99		0		0
SIMEC<br> INTERNATIONAL 7	FABRICACION Y VENTA DE PROD DE ACERO		0		99.99		0		0
SIMEC<br> ACERO	COMPRA VENTA DE PROD DE ACERO		0		100.00		0		0
SIMEC<br> USA	COMPRA VENTA DE PROD DE ACERO		0		100.00		0		0
PACIFIC<br> STEEL PROJECTS	PRESTACION DE SERVICIOS		0		100.00		0		0
SIMEC<br> STEEL	PRESTACION DE SERVICIOS		0		100.00		0		0
CIA<br> SIDERURGICA DE GUADALAJARA	FABRICACION Y VENTA DE PROD DE ACERO		0		99.99		0		0
CORPORACION<br> ASL	COMPRA VENTA DE PROD DE ACERO		0		99.99		0		0
GV<br> DO BRASIL	FABRICACION Y VENTA DE PROD DE ACERO		0		99.99		0		0
ORGE	FABRICACION Y VENTA DE PROD DE ACERO		0		99.99		0		0
SIDER<br> DE OCCIDENTE DEL PACIFICO, S.A. DE C.V.	FABRICACION Y VENTA DE PROD DE ACERO		0		99.99		0		0
RRLC	FABRICACION Y VENTA DE PROD DE ACERO		0		99.99		0		0
SIMEC<br> INTERNATIONAL 9	FABRICACION Y VENTA DE PROD DE ACERO		0		99.99		0		0
TOTAL<br> INVESTMENT IN ASSOCIATES							0		0

26

BOLSA MEXICANA DE VALORES, S.A.B. DE C.V.
CLAVE<br> DE<br><br> COTIZACION: <br><br> SIMEC															QUARTER: 1	YEAR 2024
GRUPO SIMEC, S.A.B. DE C.V																CONSOLIDADO
BREAKDOWN OF CREDITS
(THOUSAND PESOS)
	FOREIGN INSTITUTION (YES / NO)	CONTRACT SIGNING DATE	EXPIRATION DATE	INTEREST RATE	MATURITY OR AMORTIZATION OF CREDITS IN NATIONAL CURRENCY						MATURITY OR AMORTIZATION OF CREDITS IN FOREIGN CURRENCY
CREDIT TYPE / INSTITUTION						TIME INTERVAL						TIME INTERVAL
					CURRENT YEAR	UNTIL 1 YEAR	UNTIL 2 YEAR	UNTIL 3 YEAR	UNTIL 4 YEAR	UNTIL 5 YEAR OR MORE	CURRENT YEAR	UNTIL 1 YEAR	UNTIL 2 YEAR	UNTIL 3 YEAR	UNTIL 4 YEAR	UNTIL 5 YEAR OR MORE
BANKS
FOREIGN TRADE
SECURED
COMERCIAL BANKS
OTHER
TOTAL BANKS					0	0	0	0	0	0	0	0	0	0	0	0
STOCK MARKET	FOREIGN INSTITUTION (YES / NO)	CONTRACT SIGNING DATE	EXPIRATION DATE	INTEREST RATE	MATURITY OR AMORTIZATION OF CREDITS IN NATIONAL CURRENCY						MATURITY OR AMORTIZATION OF CREDITS IN FOREIGN CURRENCY
						TIME INTERVAL						TIME INTERVAL
LISTED STOCK EXCHANGE (MEXICO AND / OR FOREIGN)					CURRENT YEAR	UNTIL 1 YEAR	UNTIL 2 YEAR	UNTIL 3 YEAR	UNTIL 4 YEAR	UNTIL 5 YEAR OR MORE	CURRENT YEAR	UNTIL 1 YEAR	UNTIL 2 YEAR	UNTIL 3 YEAR	UNTIL 4 YEAR	UNTIL 5 YEAR OR MORE
UNSECURED
MEDIUM TERM NOTES	NO										0	5,037	0	0	0	0
SECURED
PRIVATE PLACEMENTS
UNSECURED
SECURED
TOTAL STOCK MARKET LISTED IN STOCK EXCHANGE AND PRIVATE PLACEMENT					0	0	0	0	0	0	0	5,037	0	0	0	0
OTHER CURRENT AND NON-CURRENT LIABILITIES WITH COST	FOREIGN INSTITUTION (YES / NO)	DATE OF AGREEMENT	EXPIRATION DATE		MATURITY OR AMORTIZATION OF CREDITS IN NATIONAL CURRENCY						MATURITY OR AMORTIZATION OF CREDITS IN FOREIGN CURRENCY
					CURRENT YEAR	UNTIL 1 YEAR	UNTIL 2 YEAR	UNTIL 3 YEAR	UNTIL 4 YEAR	UNTIL 5 YEAR OR MORE	CURRENT YEAR	UNTIL 1 YEAR	UNTIL 2 YEAR	UNTIL 3 YEAR	UNTIL 4 YEAR	UNTIL 5 YEAR OR MORE
MISCELLANEOUS	NO					0					0	0	0	0	0	0
TOTAL OTHER CURRENT AND NON-CURRENT LIABILITIES WITH COST					0	0	0	0	0	0	0	0	0	0	0	0
SUPPLIERS	FOREIGN INSTITUTION (YES / NO)	DATE OF AGREEMENT	EXPIRATION DATE		MATURITY OR AMORTIZATION OF CREDITS IN NATIONAL CURRENCY						MATURITY OR AMORTIZATION OF CREDITS IN FOREIGN CURRENCY
					CURRENT YEAR	UNTIL 1 YEAR	UNTIL 2 YEAR	UNTIL 3 YEAR	UNTIL 4 YEAR	UNTIL 5 YEAR OR MORE	CURRENT YEAR	UNTIL 1 YEAR	UNTIL 2 YEAR	UNTIL 3 YEAR	UNTIL 4 YEAR	UNTIL 5 YEAR OR MORE
MISCELLANEOUS	NO				0
MISCELLANEOUS	NO					1,387,335					0	6,070,592				1,264
TOTAL SUPPLIERS					0	1,387,335	0	0	0	0	0	6,070,592	0	0	0	1,264
OTHER CURRENT AND NON-CURRENT LIABILITIES	FOREIGN INSTITUTION (YES / NO)				MATURITY OR AMORTIZATION OF CREDITS IN NATIONAL CURRENCY						MATURITY OR AMORTIZATION OF CREDITS IN FOREIGN CURRENCY
					CURRENT YEAR	UNTIL 1 YEAR	UNTIL 2 YEAR	UNTIL 3 YEAR	UNTIL 4 YEAR	UNTIL 5 YEAR OR MORE	CURRENT YEAR	UNTIL 1 YEAR	UNTIL 2 YEAR	UNTIL 3 YEAR	UNTIL 4 YEAR	UNTIL 5 YEAR OR MORE
MISCELLANEOUS	NO				0	0	0
MISCELLANEOUS	NO										0	0	0
TOTAL OTHER CURRENT AND NON-CURRENT LIABILITIES					0	0	0	0	0	0	0	0	0	0	0	0
GENERAL TOTAL					0	1,387,335	0	0	0	0	0	6,075,629	0	0	0	1,264
		Estas columnas<br> no aplican para las secciones correspondientes

27

BOLSA MEXICANA DE VALORES, S.A.B. DE C.V.
CLAVE<br> DE COTIZACION: SIMEC
GRUPO SIMEC, S.A.B. DE C.V	QUARTER: 1	YEAR 2024
MONETARY FOREIGN CURRENCY POSITION
THOUSAND PESOS
	DOLLARS<br> (1)				OTHER<br> CURRENCIES
---	---	---	---	---	---	---	---	---	---	---
FOREIGN<br> CURRENCY POSITION	THOUSANDS<br><br> OF DOLLARS		THOUSAND<br><br> PESOS		THOUSANDS<br><br> OF DOLLARS		THOUSAND<br><br> PESOS		THOUSAND<br><br> PESOS<br><br> TOTAL
MONETARY ASSETS		1,823,402		30,410,707		0		0		30,410,707
CURRENT		1,823,402		30,410,707		0		0		30,410,707
NON CURRENT		0		0		0		0		0
LIABILITIES		693,474		11,565,763		0		0		11,565,763
SHORT TERM		693,398		11,564,499		0		0		11,564,499
LONG TERM		76		1,264		0		0		1,264
NET BALANCE		1,129,928		18,844,944		0		0		18,844,944
(1)	IN<br> THE NOTES SECTION MUST SPECIFY THE CURRENCY AND EXCHANGE RATE
---	---

28

BOLSA<br> MEXICANA DE VALORES, S.A.B. DE C.V.
	YEAR 2024
DEBT<br> INSTRUMENTS
FINANCIAL<br> LIMITATIONS IN CONTRACT, ISSUED DEED AND / OR TITLE
MEDIUM<br> TERM NOTES
A)<br> Current assets to current liabilities must be 1.0 times or more
B)<br> Total liabilities to total assets do not be more than 0.60
C)<br> Operating income plus items added to income which do not require using cash must be 2.0 times or more
This<br> notes was offered in the international market
ACTUAL<br> SITUATION OF FINANCIAL LIMITED
MEDIUM<br> TERM NOTES
A)  Accomplished<br> the actual situation is 3.37 times
B)  Accomplished<br> the actual situation is 0.25
C)  Accomplished<br> the actual situations 1,840.19
As<br> of March 31, 2024, the remaining balance of the MTNs not exchanged amounts to Ps. 5.0 Millions<br> (302.000 dollars)

All values are in US Dollars.

29

BOLSA MEXICANA DE VALORES, S.A.B. DE C.V.
CLAVE DE COTIZACION: SIMEC
GRUPO SIMEC, S.A.B. DE C.V	QUARTER: 1	YEAR 2024
DISTRIBUTION OF REVENUE BY PRODUCT
TOTAL INCOME
(THOUSAND PESOS)
****	SALES				MARKET		MAIN
---	---	---	---	---	---	---	---	---
MAIN PRODUCTS OR PRODUCT LINE	VOLUME		AMOUNT		SHARE %		TRADEMARKS	CUSTOMERS
DOMESTIC<br> SALES
COMMERCIAL<br> PROFILES		162		2,781,132		0
SPECIAL<br> PROFILES		66		1,410,053		0
OTHERS		0		0		0
TOTAL		228		4,191,185		0
FOREIGN SALES
COMMERCIAL<br> PROFILES		190		2,654,581		0
SPECIAL<br> PROFILES		48		746,319		0
OTHERS		0		0		0
TOTAL		238		3,400,900		0
FOREIGN  SUBSIDIARIES
SPECIAL<br> PROFILES		13		293,373
T<br> O T A L		479		7,885,458

30

BOLSA MEXICANA DE VALORES, S.A.B. DE C.V.
CLAVE DE<br> COTIZACION: SIMEC
GRUPO SIMEC, S.A.B. DE C.V	QUARTER: 1	YEAR 2024	CONSOLIDADO
ANALYSIS OF PAID CAPITAL STOCK
CHARACTERISTICS OF THE SHARES
	NOMINAL			NUMBER<br> OF SHARES								CAPITAL<br> SOCIAL
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
SERIES	VALUE<br> ()	VALID COUPON		FIXED<br><br> PORTION		VARIABLE<br><br> PORTION		MEXICAN		FREE<br><br> SUBSCRIPTION		FIXED		VARIABLE
B			0		90,850,050		406,859,164		0		497,709,214		441,786		1,978,444
TOTAL					90,850,050		406,859,164		0		497,709,214		441,786		1,978,444
TOTAL<br> NUMBER OF SHARES REPRESENTING THE CAPITAL STOCK OF THE DATE OF SENDING THE INFORMATION:															497,709,214

All values are in US Dollars.

31