February 26, 2016
To the Board of Directors of Grupo Lamosa, S.A.B. de C.V. (“the Company”)

As Chairman of the Audit Committee, I would like to present to you the report on this Committee’s activities in relation to the financial year ended December 31, 2015, pursuant to Company Statutes and the current Law:

  1. We reviewed the reports of the external auditor and on the results of the internal audit for the year of 2015.
  2. To date, this Audit Committee has no knowledge of any incompliance with the operating and accounting guidelines and policies of the Company and its Subsidiaries.
  3. This Committee has met with the representative of the firm of external auditors and evaluated the performance both of the firm and the auditor responsible therefor. The firm is responsible for expressing an opinion on the fairness of the Company’s financial statements and their compliance with International Financial Reporting Standards. At the current time, we believe the performance of the firm and its auditors to be satisfactory.
  4. This Committee authorized payment to the firm that supplied external auditing and additional services to the Company for the fiscal year of 2015.
  5. We analyzed the modifications to the Mexican Tax Law.
  6. We reviewed the survey and report on the operations of the Grupo Lamosa Transparency Line, ensuring that the cases received are being treated in accordance with the principles set out in the Company’s Code of Ethics.
  7. During the year, nothing worthy of note was observed with regard to the accounting, internal controls, or internal and external auditing, nor were there any complaints relating to irregularities on the part of Management. In the opinion of this committee, the Company continues to make significant progress with its corporate governance and internal control systems.
  8. This Committee gave the Board of Directors a favorable opinion on the Annual Report of the Chief Executive Officer and on the report on operations and activities in which the Board was involved, corresponding to the fiscal year of 2015.
  9. On the basis of the external auditors’ report, this Committee believes that the accounting and information policies and criteria followed by the Company are adequate and sufficient, and have been applied consistently in the information presented by the Chief Executive Officer and by the Board of Directors, reflecting fairly the Company’s financial position and results.

C.P. Carlos Zambrano Plant