1 Investment Highlights Long-term concession investments in - - PowerPoint PPT Presentation

1

Investment Highlights

Strategic Matters

Long-term concession investments in attractive locations in Mexico

Financial nformation S M

Established regulatory framework Track record of consistent passenger growth

In Commercial Revenues

Balanced mix of international and domestic traffic Successful market leading commercial

C Operational Information

Successful, market leading commercial business strategy Strong cash flow profile and solid balance h

Regulation

sheet Robust corporate governance and board of directors with experienced management

Company Overview

2

50 year airport concessions from November 1998 in attractive locations in Mexico

Strategic Matters

Geographical presence Illustrative flight times from various destinations

Financial nformation S M

Seattle Ottawa Seattle Seattle Ottawa Seattle Seattle Ottawa Seattle

In Commercial Revenues

Chicago Washington, DC Dallas San Francisco Los Angeles Denver Pittsburgh San Diego Phoenix Ottawa New York Boston Philadelphia Chicago Washington, DC Dallas San Francisco Los Angeles Denver Pittsburgh San Diego Phoenix Ottawa Chicago Washington, DC Dallas San Francisco Los Angeles Denver Pittsburgh San Diego Phoenix Ottawa New York Boston Philadelphia

Cozumel Merida Veracruz Cancun

C Operational Information

Miami New Orleans Mexico City Monterrey Guadalajara Puebla Leon Miami New Orleans Mexico City Monterrey Guadalajara Puebla Leon Miami New Orleans Mexico City Monterrey Guadalajara Puebla Leon

Villahermosa Oaxaca Minatitlan

Regulation 2 hours 4 hours 6 hours 2 hours 4 hours 6 hours 2 hours 4 hours 6 hours

Tapachula Huatulco

Company Overview

3

Private airports / airport groups listed on global stock exchanges

Copenhagen Airports

Denmark Listed on Copenhagen SE

Frankfurt Airport

Germany Listed on Frankfurt SE

Strategic Matters

• Beijing Airport

China Listed on Hong Kong SE

Vienna Airport

Austria Listed on Vienna SE

Ljubljana Airport

Slovenia Listed on Ljubljana SE

OMA

Mexico BMV, NASDAQ

Zurich Airport

Switzerland Li t d S i SE

Paris Airports

France Listed on Paris SE

• Financial

nformation S M

• Guangzhou Airport

China Listed on Hong Kong SE

Hainan Meilan

China Listed on Hong Kong SE j j

TAV Airports Hold

Turkey Listed on Istanbul SE

GAP

Mexico BMV, NYSE Listed on Swiss SE Milan Airport Italy Listed on Milan SE Venetia Airport Italy

In Commercial Revenues

Listed on NYSE & BMV

• Macquarie Airports

Australia Listed on Hong Kong SE

Thailand Airports

Thailand Listed on Thailand SE Italy Listed on Milan SE

C Operational Information

• Auckland Airport

New Zealand Listed on New Zealand SE Listed on Australian SE

Regulation

ASUR and GAP are the only Latin American Airport Groups listed on the NYSE

Company Overview

4

Ownership overview

Strategic Matters

32.81% Total 26.55% Total 40.64% Total

Ownership structure

Financial nformation S M

27.25% B 100.0% BB 28.75% B 0% BB 44.00% B 0% BB

Fernando Aberdeen

In Commercial Revenues

Fernando Chico Pardo1 Asset Management Float

C Operational Information Regulation Company Overview

1 Fernando Chico Pardo’s stake includes his direct or indirect ownership of 100% of Servicios de Estrategia Patrimonial, S.A. de C.V., 100% of

Agrupación Aeroportuaria Internacional II, S.A. de C.V. and 100% of Inversiones y Técnicas Aeroportuarias, S.A. de C.V. (ITA).

5

Established regulatory framework with a track record of rate setting precedents

2010

Regulated Revenues + Non-Regulated Revenues

DUAL TILL System

• Ps. 209

2010 revenue per passenger

70% of total revenues

30% of total revenues

Strategic Matters

Airline Fees:

Regulated Revenues

Retail: Duty Free & Duty Paid

Non-Regulated Revenues

• Ps. 62
• Ps. 147
• Ps. 137

Financial nformation S M

Landing, apron parking, overnight parking,

use of boarding bridges, security, among others Passenger Fees: D i & I i l

Aeronautical

y y

Food & Beverages Advertising Banking & Foreign Exchange Car Rental

ness Lines

In Commercial Revenues

Domestic & International

Fixed:

C

l t S i

ical A

Car Rental Car Parking Ground Transport Teleservices

mercial Busin

• Ps. 10

C Operational Information

Complementary Services

Variable:

Airport services, office rentals, ground support

n-Aeronauti

Others

Nine Comm

Direct Commercial Operation (DCO)

Regulation services, catering, etc.

No

Note: In nominal pesos as of Dec 2009; passenger traffic excludes transit and general aviation passengers

Company Overview

6

Visibility of capital expenditure requirements through 2013

• Visibility on capital expenditure requirements, as

maximum rate negotiated along with Master

MDP investment commitments (Ps. million) Highlights

Strategic Matters

Development Plan (MDP) is a function of programmed capex

• Key projects completed:

1999: Government capex backlog

Financial nformation S M

1999: Government capex backlog 2005: 9/11 security standards 2006-2007:Terminal 3 and second runway in

Cancun

In Commercial Revenues

• Key future projects:

Terminal building expansion in Huatulco, Oaxaca,

Veracruz and Villahermosa

Relocation of the General Aviation Apron in

C Operational Information

Relocation of the General Aviation Apron in

Cancun

Passenger flow separation in Cancun Runway expansion in Huatulco

Regulation

1 Committed investments from May 1999 to Dec 2009 2 209 million pesos have been paid each year (anticipated)

Note: Committed investments according to Master Development Plan, in pesos as

• f December 2009 based on the Mexican construction price index in accordance

with the terms of the Master Development Plan

Taxiway expansion in Veracruz

Company Overview

7

ASUR’s airports are among the most frequented in Mexico

M i i t b PAX ASUR’ hi l

Strategic Matters

Mexican airports by PAX ASUR’s geographical presence

5 9 14 18

Airport

Pax (‘000s) 2008 2009 2010

1Mexico City 26,210 24,243 24,131 2C ú 12 646 11 175 12 439

Financial nformation S M 4 11 14

2Cancún 12,646 11,175 12,439 3Guadalajara 7,193 6,453 6,954 4Monterrey 6,586 5,200 5,380 5Tijuana 3,969 3,407 3,650 6Los Cabos 2,989 2,620 2,746 7P t V ll t 3 281 2 644 2 735

In Commercial Revenues

2

3 7 6

10 13

12

17

15 1 8

7Puerto Vallarta 3,281 2,644 2,735 8Toluca 3,950 2,490 2,271 9Hermosillo 1,285 1,174 1,138 10Mérida 1,281 1,059 1,136 11Culiacán 1,099 1,063 1,060 12G j t 1 103 886 854

C Operational Information

17

16 19

20

8

12Guanajuato 1,103 886 854 13Veracruz 981 853 834 14Chihuahua 834 745 828 15Mazatlán 834 744 756 16Acapulco 1,088 839 737 17Villahermosa 959 766 729

Regulation

2010 Total PAX 06-10 CAGR Int PAX Dom PAX Total PAX 9,824 6,891 16,715 4.9% 7,003 13,220 20,223 (0.3%)

Source: Company financials AICM website

17Villahermosa 959 766 729 18Ciudad Juárez 903 631 634 19Zihuatanejo 644 545 497 20Oaxaca 594 523 447

Company Overview

7,003 13,220 20,223 (0.3%) 1,928 9,660 11,588 (0.4%)

All of Mexico 27,604 50,063 77,667 1.3%

Source: Company financials, AICM website Note: Selected airport sample includes ASUR, GAP, OMA and OHL concessions and the Mexico City airport; passenger traffic excludes transit and general aviation passengers Note: For Mexico total all charters are assumed as domestic traffic. All of Mexico includes government owned airports

8

Revenue and passenger breakdown 2010 revenue breakdown by business 2010 revenue breakdown by business 2010 revenue breakdown by airport 2010 revenue breakdown by airport

Non-aeronautical 35% d 6% Villahermosa 3% Other 12% Regulated 70% Commercial 30%

Strategic Matters

Aeronautical 65% Cancun 79% Merida 6%

Financial nformation S M

Total = Ps.3,494mm Total = Ps.3,494mm 2010 passenger traffic by airport 2010 passenger traffic by type

In Commercial Revenues

Cancun 74% Merida 7% Villahermosa 4% Other 14% Domestic 41%

C Operational Information

Total = 16.7mm Total = 16.7mm

Merida 7% International 59%

Regulation

Source: Company filings; Note: Non-aeronautical revenues are derived from leasing of space in airports to airlines, restaurants, retailers and other commercial tenants and access fees collected from third parties providing complementary services (such as catering, handling, and ground transport). Commercial revenues are all non-aeronautical and include revenues related to retail (duty free & duty paid), food & beverages, advertising, banking & foreign exchange, car rental, car parking, ground transport, teleservices and others. Revenues from Construction Services are not included. Passenger traffic excludes transit and general aviation.

Revenue per PAX = Ps.209

Company Overview

9

ASUR traffic evolution

Strategic Matters

17.8 16 7 Domestic International Cancun Airport

Financial nformation S M

10 6 11.4 11.2 11.0 12.2 13.9 13.3 13.8 16.2 15.5 16.7 8.6 8 1 8 0 9.1 10.1 8.8 9.8 12 6 12 4

In Commercial Revenues

3.1 3.5 3.6 4.0 4.1 5.0 5.4 5.7 5.6 6.2 7.4 7.8 8.5 8.0 8.3 9.4 9.8 10.6 9.0 9.0 5.6 5.9 6.8 6.6 6.4 7.1 8.1 8.0 6 2 7.0 7.7 7.6 7.7 8.7 10.0 9.3 9.7 11.3 12.6 11.2 12.4

C Operational Information

3.0 3.4 4.3 4.3 4.9 4.0 4.2 4.4 4.4 4.7 4.7 4.6 4.6 5.1 5.3 5.2 5.8 7.2 7.7 6.7 6.9 3.3 3.4 2.6 2.8 5.9 6.2 3.0 3.4 3.9 4.3 4.4 4.8 5.1

1 2 3 4 5 6 7 8 9 1 2 3 4 5 6 7 8 9 1

Regulation

1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 6M10 6M11

CAGR ’90–’10 (INT’L):

6.9%

Y-o-Y Growth (%)

7.7 (1.8) (2.2) 10.9 14.0 (4.1) 3.4 17.8 9.3 (12.5) 8.4 4.3 13.3 3.8 (5.9) 9.0 5.4 19.4 10.7 7.6 0.7

Company Overview

10

CAGR ’90–’10 (DOM):

4.2%

Source: ASA from 1990-1998. ASUR management thereafter Note: Transit and general aviation excluded

CAGR ’90–’10 (Cancun): 7.4%

ASUR has a balanced mix of domestic and international traffic

Strategic Matters

Passenger traffic by Origin – Destination (million PAX)

Financial nformation S M

Region 99 00 01 02 03 04 05 06 07 08 09 10

% Change 10 vs. 09 % of total 2010 1 CAGR 99-10

• Avg. GDP

99-10

Mexico 5 0 5 0 4 9 4 8 5 3 5 6 5 5 5 9 7 4 8 1 7 0 7 2

3.0 43.3 3.4 2.4

In Commercial Revenues

Mexico 5.0 5.0 4.9 4.8 5.3 5.6 5.5 5.9 7.4 8.1 7.0 7.2

3.0 43.3 3.4 2.4

USA 4.1 4.6 4.5 4.4 4.9 5.9 5.6 5.3 6.0 6.5 5.9 6.2

6.5 37.1 3.8 2.1

Europe 0.7 0.9 0.9 0.8 1.0 1.3 1.2 1.3 1.4 1.5 1.0 1.2

15.8 7.2 5.3 1.8

Canada 0.3 0.4 0.5 0.6 0.7 0.8 0.8 0.8 1.0 1.3 1.3 1.5

18.2 9.2 16.2 2.5

C Operational Information

Canada 0.3 0.4 0.5 0.6 0.7 0.8 0.8 0.8 1.0 1.3 1.3 1.5 Latin America 0.5 0.5 0.5 0.3 0.3 0.3 0.3 0.3 0.3 0.4 0.3 0.5

54.8 3.1 0.1 3.0

Asia & Others 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

0.0 0.0 0.0 8.1

ASUR 10.6 11.4 11.3 10.9 12.2 13.9 13.4 13.6 16.1 17.8 15.5 16.7

7.6 100 4.2 3.7

Regulation

ASUR 10.6 11.4 11.3 10.9 12.2 13.9 13.4 13.6 16.1 17.8 15.5 16.7

7.6 00 4. 3.7

1 Note: % of total refers to 2010 figure

Note: Excludes transit and general aviation; Source for real GDP growth estimates: International Monetary Fund – average annual real GDP growth from 1999-2010

Company Overview

11

Historically, traffic has recovered and grown after exogenous events

18 20

October '05 Hurricane Wilma May '09 AH1N1 July '05 September '08 Financial Crisis

Strategic Matters

Passenger traffic during last twelve months at each specific date (million PAX)

RECOVERY

12 14 16 18

September '01 9/11 y Hurricane Emily

Financial nformation S M EVENT RECOVERY AFTER:

September 01: 9/11

13 months

October 05: H. Wilma

16 months

18 19

May '09 AH1N1

• 6%

from historical maximum (Jan '09)

6 8 10

In Commercial Revenues

May 09: H1N1

13 14 15 16 17 18

2 4

C Operational Information

8 9 10 11 12 13

• 12%

from historical maximum (Sep '08)

• 4%

from historical maximum (Feb '09)

Feb-00 Jun-00 Oct-00 Feb-01 Jun-01 Oct-01 Feb-02 Jun-02 Oct-02 Feb-03 Jun-03 Oct-03 Feb-04 Jun-04 Oct-04 Feb-05 Jun-05 Oct-05 Feb-06 Jun-06 Oct-06 Feb-07 Jun-07 Oct-07 Feb-08 Jun-08 Oct-08 Feb-09 Jun-09 Oct-09 Feb-10 Jun-10 Oct-10 Feb-11 Jun-11

Total Domestic International

Regulation

6 7

Abr-09 Jun-09 Ago-09 Oct-09 Dic-09 Feb-10 Abr-10 Jun-10 Ago-10 Oct-10 Dic-10 Feb-11 Abr-11 Jun-11

Company Overview

Note: Excludes transit and general aviation passengers

Successful commercial strategy

9 60.6 9.3 61.3 0.2 61.2 0.1 63.8 65.1 66.2

70.0

Strategic Matters

2010 commercial revenue per PAX vs. peers (US$/PAX) Commercial revenues per passenger per quarter evolution (Ps. / passenger in Mexican pesos as of date reported) Mexican CPI CAGR 2000-2010: 4.7%

44.1 46.3 2.4 50.6 49.7 45.9 49.3 48.6 57.9 6 59 55.9 6 60 6 60

50.0 60.0

10.0

Financial nformation S M 2 27.8 31.5 30.7 31.3 34.3 34.9 34.8 35.4 34.8 34.9 42

30.0 40.0

5.0

In Commercial Revenues 8.1 7.5 8.4 10.1 7.5 7.6 7.5 11.9 12.5 13.6 14.8 15.8 17.0 16.7 17.4 20.0 21.2

10.0 20.0

2.9 3.3

C Operational Information 7 7 7 7

0.0 10.0 Selected Int ASUR GAP OMA

Regulation

1

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

2009

2011

Company Overview

1 International average 2009 includes figures for Fraport, TAV Airports, Copenhagen Airports, Vienna Airport, Aeroports do Paris and Zurich Airport; Note: OMA commercial revenues include parking, advertising, leasing, retail

stores, car rental, food & beverage, communications, financial services, ground transportation and time-sharing; GAP commercial revenues include parking, leasing, retail stores, food & beverage, car rentals, time-share, duty free, advertising, communications, financial services and ground transportation; Fraport commercial revenues include real estate, retail, parking, energy supply, advertising and rents; TAV Airports commercial revenues include catering and duty free; Copenhagen Airports commercial revenues include shopping centers, car parking, rents, hotel operations and other services; Vienna Airport commercial revenues include parking, rentals, advertising, shopping and gastronomy; Aeroports do Paris commercial revenues include retail stores, duty free, rentals, car parking, industrial services, shops, bars, restaurants, leasing and rentals; Zurich Airport commercial revenues include retail stores, duty free,advertising, car rentals, ground transportation, financial services, food & beverage, rentals and leasing; Converted to US$ at 2010 average FX of Ps.12.35/US$, 1.39 EUR/US$ and 0.92 US$/CHF where applicable; Note: Commercial revenue per passenger recorded in 3Q’05 reflects a one time payment from Dufry Mexico of Ps.39.5mm; Commercial revenue recorded in 4Q’06 reflects a one time payment of Ps.19.1mm from Aldeasa for a new concession contract at Terminal 3 in Cancun International. Passenger traffic excludes transit and general aviation; Commercial revenue per passenger CAGR based on full year 2000 and full year 2009 figures

13

Track record of consistent revenue growth and profitability

Total revenue evolution EBITDA and EBITDA margin

4,235

Construction

Strategic Matters

Total revenue evolution (Ps. million) EBITDA and EBITDA margin (Ps. mm) CAGR ’06–’10: 12.4%

1

1,985 1,967 2,104 741 3,169 3,131

Construction Non-Aeronautical Aeronautical

Financial nformation S M

CAGR ’99–’09: 21.9% CAGR ’99–’09: 10.5%

1

1,317 1,707

58.8% 61.3% 62.7% 62.8% 60.2%

895 1,067 1,089 1,211 1,976 2,064 2,239 2,786

In Commercial Revenues

G th t (%)

1

2006 2007 2008 2009 2010

2010 EBITDA margin calculated without Revenues from Construction Services for comparability with previous periods

1,891 2,102 2,043 2,283 171 176 239 311 495 607 651 897 1,159 1,164 1,241 1,467

C Operational Information

Growth rates (%)

’99-‘10 CAGR Passenger traffic

4.2%

Total revenues

13.2%

759 989 989 1,001 1,155 1,481 1,457 1,588 1,891

137

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

Regulation

Total revenues

13.2%

EBITDA

14.3%

Net income

21.7%

Mexican CPI

5.1%

1

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

Company Overview

Source for Mexican CPI: IMF; Note: CAGRs calculated in Mexican peso terms; Revenues from Construction Services not included; passenger figures exclude passengers in transit or general aviation

1 Figures for 2010 reflect adoption of MIFRS-17

Note: From 1999 to 2007 figures in nominal Mexican pesos adjusted for inflation as of December 31st of each year

14

ASUR has positively differentiated itself…

“ACI named Cancun the best airport in Latin America

Strategic Matters

ACI named Cancun the best airport in Latin America and third worldwide in its range in 2010.”

CAGR in Revenues 2006 – 2010 (%) Revenue per PAX in 2010 vs. Peers

Financial nformation S M In Commercial Revenues

The first column for each airport group excludes Revenues from Construction Services; the second column includes these revenues.

C Operational Information

CAGR in EBITDA 2006 – 2010 (%) CAGR in PAX Traffic 2006 – 2010 (%)

;

Regulation Company Overview

15

Source: Company reports; Growth rates calculated in Mexican pesos; Passenger figures exclude general aviation and transit passenger.

1 Source: INEGI – total annual passenger traffic; ACI = Airports Council International.

Mexico Aggregate 1

Operating leverage as passenger traffic recovers

Strategic Matters

Highlights Growth rates

• EBITDA margins have increased despite

major exogenous events such as the H1N1 ’06-‘10 CAGR

Passenger traffic

4 9% Cost of services 10 3%

Financial nformation S M

• utbreak, significant increase in crude oil

prices and the global financial crisis

• Revenues have grown at a faster rate than

Passenger traffic

4.9% Cost of services 10.3%

Revenues

11.8% Administrative services 14.0%

EBITDA

12.4% Total costs 5.9%

Net Income

24 7% Mexican inflation (CPI) 4 7%

In Commercial Revenues

2010 operating cost breakdown (%)

Revenue and cost per PAX comparison (Ps./PAX) total costs and passenger traffic

Net Income

24.7% Mexican inflation (CPI) 4.7%

Mexican GDP growth

0.7%

157 161 167 161 167 175 172 173 175 175 193 203 201 198 205 207 210 208 212 217 218

Concession fee Technicalassistance C Operational Information 53 6% 9.3% 9.4% 6.3%

42 52 47 37 45 46 53 37 39 50 60 39 58 53 57 39 52 49 59 44 50 6 7 8 6 6 7 7 5 6 6 8 6 8 8 10 8 9 10 12 8 9

Technical assistance Administrative services Costs of services D&A Regulation 21.4% 53.6%

* 2Q'06 3Q'06 4Q'06 1Q'07 2Q'07 3Q'07 4Q'07 1Q'08 2Q'08 3Q'08 4Q'08 1Q'09 2Q'09 3Q'09 4Q'09 1Q'10 2Q'10 3Q'10 4Q'10 1Q'11 2Q'11 Cost of Services Administrative Revenues

Company Overview

Note: growth rates in Mexican peso terms; Mexican inflation growth rate calculated as the % change in CPI indexed to 2006; total costs include concession fee, technical assistance, administrative services, costs of services and D&A; passenger traffic excludes transit and general aviation passengers

1Note: revenue per passenger figures does not include construction revenue

* 3Q’10: Does not reflect the Ps.128.0 million increase in the reserve for doubtful accounts resulting from the bankruptcy announced by Grupo Mexicana de Aviación

16

Profitability indicators

2000

Net income

. 6.28

r share

Strategic Matters

Net Income, retained earnings and dividends evolution (Ps. thousands)1 EBITDA – CAPEX

(Ps. million)

1400 1600 1800 2000

Net income Retained earnings Dividends paid

share

Ps.

per

Financial nformation S M

42 49 1,290 1,321

3

800 1000 1200

8 per share

e e re are are

2.00 per share

• Ps. 2.50 per share
• Ps. 3.00 per s

In Commercial Revenues

1,04 1,04

200 400 600

• Ps. 1.48
• Ps. 0.50 per share
• Ps. 0.56 per share
• Ps. 0.62 per shar
• Ps. 0.68 per sha
• Ps. 0.75 per sha
• Ps. 2

C Operational Information

229

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Regulation

1Note Figures in nominal Mexican pesos for the respective year for illustrative purposes dividend in each year in the chart above relates to the dividend paid in nominal

2

2006 2007 2008 2009 2010

Company Overview

1 Note: Figures in nominal Mexican pesos for the respective year; for illustrative purposes, dividend in each year in the chart above relates to the dividend paid in nominal

pesos in the year thereafter, i.e. dividend shown in year (x) in the chart above is actually the dividend paid in year (x+1) according to ASUR financial statements;

2 Note: 2010 figures reflect the adoption of INIF 17 3 Note: 2010 dividend approved by the Annual General Shareholders’ Meeting (April 27th, 2011) and paid on May 17th, 2011

17

Solid Balance Sheet

894 1,443

Strategic Matters

Illustrative 4Q ‘10 net debt reconciliation (MX$mm)

2006 2007 2008 2009 2010 Total debt/EBITDA 0 0x 0 0x 0 0x 0 3x 0 4x

Key ratios

• 549

l b h d b Financial nformation S M

Total debt/EBITDA 0.0x 0.0x 0.0x 0.3x 0.4x Net debt/EBITDA (0.9x) (1.1x) (0.9x) (0.2x) (0.3x)

Total Debt Cash Net debt In Commercial Revenues

2009 net debt / EBITDA comparison across selected, publicly traded international airport

• perators

9 2

C Operational Information

0.4 2.0 2.2 2.7 3.7 3.7 9.2

Regulation

(0.2)

Asur GAP OMA Aeroports de Paris Vienna Airport Fraport TAV

Source: Company financials, ratios calculated in local currency terms; Note: Leverage calculations for peer group as follows: for ASUR debt includes bank loans and cash includes treasury cash, marketable securities and investments in securities convertible to cash in less than one year; for GAP debt includes unsecured bank loans and cash includes treasury cash, deposits and investments

(0.6)

Company Overview

marketable securities and investments in securities convertible to cash in less than one year; for GAP debt includes unsecured bank loans and cash includes treasury cash, deposits and investments held for trading; for OMA debt includes bank loans and lines of credit and cash includes treasury cash and cash equivalents; for Copenhagen Airports debt includes bank loans and bonds issued and cash includes treasury cash and short term deposits; for Zurich Airport debt includes privately placed debt and bank liabilities and cash includes treasury cash, deposits, cash collateral for debt and short term investments available for sale; for Aeroports de Paris debt includes bonds, bank loans, finance leases, security deposits received, bank overdrafts, accrued interests and derivatives in liabilities position and cash includes treasury cash, marketable securities and derivatives in assets positions; for Vienna Airport debt includes bank loans and financial liabilities and cash includes treasury cash, short term deposits, investment funds, and fixed income securities; for Fraport debt includes bonds and notes and cash includes treasury cash, short term deposits, overnight and restricted cash and short term investments available for sale; for TAV debt includes secured & unsecured bank loans, finance lease liabilities and bank overdrafts and cash includes treasury cash, deposits, other liquid assets, project reserves and cash collaterals as guarantees for bank loans

18

Robust corporate governance and board of directors with experienced management

Strategic Matters

High Corporate Governance Standards

Name Title

Board of Directors Audit Committee Operations Committee

• Nom. &

Comp. Committee

• Acq. and

Contracts Committee

Founder and president of Promecap former

Financial nformation S M

Fernando Chico Pardo Founder and president of Promecap, former CEO of Grupo Financiero Inbursa X X X X Roberto Servitje Sendra1 Chairman of Grupo Bimbo X X Ricardo Guajardo Touche1 Former president of BBVA Bancomer X X X X Francisco Garza Zambrano1 President of CEMEX North America X X

In Commercial Revenues

Francisco Garza Zambrano President of CEMEX North America X X Guillermo Ortiz Martinez1 Governor of Mexico Central Bank for 12 years X X Rasmus Christiansen 1 CEO of Copenhagen Airports International A/S X X X X Luis Chico Pardo Former economist at the Bank of Mexico X X

C Operational Information

Long serving Management

Name Title

With company since

• Five out of seven board members

are independent

• Sarbanes Oxley compliant

Regulation

since

Fernando Chico Pardo President

2005

Adolfo Castro Rivas Chief Executive Officer

2000

Claudio Gongora Morales General Counsel

1999

Agustín Arellano Rodriguez Chief Infrastructure Officer

2010

• Sarbanes-Oxley compliant
• Four committees led by board

members

• Audit committee comprised of

Company Overview

g g Carlos Trueba Coll Director of Cancun Airport

1998

Hector Navarrete Muñoz Regional Director of Operations

1999

Manuel Gutiérrez Sola Chief Commercial Officer

2000

• Audit committee comprised of

three independent members of the board of directors

19

What’s Next?

Strategic Matters

• Further develop our commercial business

Financial nformation S M

• Improve our passenger volumes
• World Class service – ASQ Program

In Commercial Revenues

World Class service ASQ Program

• Improve capital structure

C Operational Information

• Monitor new business opportunities

Regulation Company Overview

20