STRUCTURE

ANNUAL REPORT ON ACTIVITIES
TRUST F/1616 TECHNICAL COMMITTEE

The undersigned, Victor Zorrilla, Chairman of the Technical Committee of the Irrevocable Trust identified under the number F/1616 (the “Trust”), hereby reports to the Shareholders’ Meeting on the completion of the following activities during the scal year 2014:

• Eight meetings were held, during the months of April, July, August, October, November and December 2015 as well as in February and April 2016.
• The Consolidated Financial Statements were approved for March, June, September and December 2015, upon recommendation from the Audit Committee.
• The March, June, September and December 2015 Holder Distributions were approved for a total of Ps. 338.1 million upon recommendation from the Audit Committee.
• The 2015 budget for the Trust and its Subsidiary was approved.
• The contract terms of KPMG as the Independent Auditor of the Trust for the year 2015 were approved, upon the recommendations by the Audit Committee.
• The Audited Financial Statements for the year 2015 with the corresponding Opinion Report without exception by the Independent Auditor were approved, after hearing the opinion of the Auditing Committee.
• Approval was given -after hearing the opinion of the Practices Committee- The acquisitions of the Hampton Inn & Suites by Hilton Chihuahua, City Express Chihuahua, City Express Junior Chihuahua and Courtyard by Marriott Chihuahua hotels, with a total investment value of Ps. 713.9 million, as well as the development of the JW Marriott Monterrey hotel with a total investment value of up to Ps. 343.4 million.
• Approval was given –after hearing the opinion of the Practices Committee- to the contracting terms with Operadora México –a Related Party- of the hotels Holiday Inn Reynosa Industrial Poniente, Hampton Inn by Hilton Hermosillo, Arriva Express Guadalajara, Staybridge Suites Guadalajara Expo, Hampton Inn by Hilton Chihuahua, City Express Chihuahua, City Express Junior Chihuahua, Courtyard by Marriott Chihuahua, Courtyard by Marriott Saltillo, and Fairfield Inn & Suites by Marriott Coatzacoalcos.
• Approval was given, following the opinion of the Practices and Investments Committee, for the annual and semi-annual review of the rental for the spaces utilized by Operadora México Servicios y Restaurantes S.A.P.I. de C.V. in the hotels where it was determined that an updating was required.
• The integration and faculties of a Financial Committee were approved.
• Approval was given –after hearing the opinion of the Practices Committee– the creation of Internal Unit for Market Studies.
• Determined –prior authorization by the Practices Committee– the procedure for the replacement of real estate assets in the Trust’s hotels.
• Approval –prior opinion of the Practices Committee– the nomination of Laura Nelly Lozano Romero and Lizeth Mariel Pedraza Nava as Secretary and Alternate, respectively, of the Technical Committee.
• Approval of the hiring of advisors for the process prior to the Debt Issuance, and proposal at the Shareholders’ Meeting to the approval of said Debt Issuance for up to Ps. 2 billion, with a total 5-year program of up to Ps. 5 billion.
• The designation of an Evaluation Committee was approved, which analyzed and authorized the contracting of Santander as a market maker for 2015.
• Presented all of the real estate assets that comprise Equity and rati ed all of the processes necessary for their acquisition, prior to presenting these at the Shareholders’ Meeting.
• Approval for the sale of a portion of the 286.7 m² located in the front portion of the Hotel Holiday Inn Puebla La Noria lot to the government of Puebla, for the construction of the Nodo Alitxcáyotl.
• Approval of a Level 1 American Depositary Receipt Program.
• Ratification of Fibra Inn’s participation in the Mexican Association of Real Estate Fibras (Asociación Mexicana de Fibras Inmobiliarias).

San Pedro Garza García, April 29 2016.

Mr. Victor Zorrilla Vargas
Chairman of the Technical Committee
Trust F/1616

ANNUAL REPORT FROM THE ADMINISTRATOR OF THE IRREVOCABLE TRUST IDENTIFIED UNDER THE NUMBER F/1616 (THE “TRUST”), SUBSCRIBED BY ASESOR DE ACTIVOS PRISMA, S.A.P.I. DE C.V., AS THE TRUSTOR; AND DEUTSCHE BANK MÉXICO, S.A., INSTITUCIÓN DE BANCA MÚLTIPLE, FIDUCIARY DIVISION AS THE FIDUCIARY, AND CI BANCO, S.A., INSTITUCIÓN DE BANCA MÚLTIPLE, AS THE AGENT ON THE COMPLIANCE WITH FISCAL OBLIGATIONS, IN TERMS OF ARTICLE 76 FRACTION XIX, OF THE INCOME.

San Pedro Garza García, Nuevo León, April 29, 2016.

Pursuant to the provisions established in Article 76, Fraction XIX, of the Income Tax Law, Administradora de Activos Fibra Inn, S.C., in its capacity as Administrator of the Trust, hereby presents the report that reflects the compliance with the fiscal obligations of the Trust for the period encompassed between January 1 and December 31, 2014 (the “Period of Review”), so that in due course the said report can be submitted to the consideration of the Annual General Shareholders’ Meeting of the of Real Estate Trust Certificates with the ticker symbol “FINN13” (“CBFIs”), which will be held on 29 of April 2016.

It is hereby represented that the fiscal status of the Fiduciary of the Trust was examined for the Period Review that covers the certified financial statements, and, regarding meeting its fiscal obligations as a direct tax payer, withholder and/or collector, whereby it is represented that none of the fiscal obligations of the Trust is outstanding or in default. It is hereby reported that the calculations were verified and found that the federal taxes accrued during the Period Reviewed as reported show that there are no rulings on outstanding balances or any payment that has been omitted.

Regarding the amount and payment of the Workers Profit Share, it is hereby reported that the Trust has no employees, and therefore, it was not subject to any labor related obligations during the Period Reviewed.

This report is issued solely and exclusively for the information for the CBFI Holders of the trust, and to be subjected for approval before the Anual General Shareholders’ meeting of the Trust, pursuant to the provisions established by the applicable laws, and shall not be used for any other purpose.

Administradora de Activos Fibra Inn, S.C.,
in its capacity as Administrator of the
Trust through its legal representative
Mr. Oscar Eduardo Calvillo Amaya