THE MEXICO FUND, INC. ANNOUNCES THE RENEWAL OF ITS EXPENSE LIMITATION AGREEMENT

COLUMBIA, Md., Oct. 28, 2022 /PRNewswire/ -- The Mexico Fund, Inc. (NYSE: MXF) announced today that the Board of Directors of the Fund (the "Board" of the "Fund") and Impulsora del Fondo México, S.C. ("Impulsora"), the Fund's investment adviser, have renewed the Fund´s Expense Limitation Agreement ("ELA") between the Fund and Impulsora. The ELA was initially announced on March 12, 2019, with the objective to support the long-term performance of the Fund and to further the interests of Fund stockholders by continuing to deliver a competitive investment vehicle providing exposure to Mexican equities.

Under the ELA, the Fund and Impulsora have committed to a 1.40% ordinary expense ratio (excluding amounts payable via the performance adjustment factor under the Fund's Investment Advisory Agreement, taxes, interest, brokerage fees and any non-recurring expenses), for fiscal year 2023, beginning on November 1, 2022, through October 31, 2023, so long as Fund net assets remain greater than $260 million. Impulsora will waive fees and/or reimburse expenses (excluding amounts payable via the performance adjustment factor under the Fund's Investment Advisory Agreement, taxes, interest, brokerage fees and any non-recurring expenses) to the extent necessary so that the Fund´s ordinary annual expense ratio does not exceed 1.40% in the period. When Fund net assets are below the threshold of $260 million, Impulsora will still waive fees in an amount necessary to maintain the expense ratio of the Fund's variable ordinary expenses at 1.20%, in addition to the amount of $520,000. These figures represent the expense ratio of the Fund's variable ordinary expenses and the maximum amount of the Fund's fixed ordinary expenses necessary to maintain a total ordinary operating expense ratio of 1.40% when Fund net asset are $260 million.

About The Mexico Fund, Inc.

The Mexico Fund, Inc. is a non-diversified closed-end management investment company with the investment objective of long-term capital appreciation through investments in securities, primarily equity, listed on the Mexican Stock Exchange. The Fund provides a vehicle to investors who wish to invest in Mexican companies through a managed non-diversified portfolio as part of their overall investment program.

This release may contain certain forward-looking statements regarding future circumstances. These forward-looking statements are based upon the Fund's current expectations and assumptions and are subject to various risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements including, in particular, the risks and uncertainties described in the Fund's filings with the Securities and Exchange Commission. Actual results, events, and performance may differ. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Fund undertakes no obligation to release publicly any revisions to these forward looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. The inclusion of any statement in this release does not constitute an admission by The Mexico Fund or any other person that the events or circumstances described in such statement are material.

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SOURCE The Mexico Fund, Inc.