Sempra (NYSE:SRE) launched a tender offer to purchase remaining 3.6% stake in Infraestructura Energética Nova, S.A.B. de C.V. (BMV:IENOVA *) for MXN 4.1 billion on August 12, 2021. In the cash tender offer, Sempra is offering to purchase each outstanding IEnova share it does not own, totaling 52.227 million shares for MXN 78.97 per share in cash. Sempra have sufficient funds to make the payment of the total amount of the offer from cash on hand. The offer is subject to customary closing conditions, including CNBV will authorized the offer and the disclosure in the related documents filed with the CNBV, and all other governmental approvals and authorizations required in connection with the offer shall have been obtained. The transaction was approved by Sempra's Operations Committee and Infraestuctura's shareholders. As on August 20, 2021, the Board of Infraestructura Energética approved the offer unanimously. After the completion of the offer, and regardless of the outcome of the offer, Sempra intends to make IENOVA submit a request to the CNBV to cancel the registration of IENOVA's shares in the RNV, and request the delisting of the IENOVA Shares from the BMV, in which case IENOVA will no longer be a public stock company with publicly listed shares subject to the LMV. The offer will be valid for at least 20 full business days including the offer start date, which is August 12, 2021, unless extended. The tender offer is expected to expire on September 10, 2021, unless the offer period is extended as described in the Offering Memorandum. Casa de Bolsa BBVA Bancomer, SA de CV and Grupo Financiero BBVA Bancomer acted as intermediary brokers in the tender offer.

Sempra (NYSE:SRE) completed the acquisition of an additional 3.5% stake in Infraestructura Energética Nova, S.A.B. de C.V. (BMV:IENOVA *) for MXN 4 billion on September 10, 2021. Settlement will occur on September 17, 2021. Of the 52,227,526 IEnova shares eligible for participation in the cash tender offer, 51,014,545 shares were validly tendered and accepted. Post completion Sempra's ownership interest in IEnova will be 99.9%. IEnova will submit an application to delist its shares from the BMV following the expiration of the cash tender offer. Upon such delisting and for at least six months thereafter, Sempra will maintain a trust for the purpose of purchasing the 1,212,981 remaining publicly owned IEnova shares at MXN 78.97 per share, the same price per share that was offered in the cash tender offer. Latham & Watkins LLP acted as legal advisor to Infraestructura Energética Nova, S.A.B. de C.V.