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

Investment Highlights Long-term concession investments in attractive locations Key value Strategic Matters in Mexico drivers Established regulatory framework Information Financial Track record of consistent passenger growth


  1. Investment Highlights • Long-term concession investments in attractive locations Key value Strategic Matters in Mexico drivers • Established regulatory framework Information Financial • Track record of consistent passenger growth Commercial Revenues • Balanced mix of international and domestic traffic • Successful, market leading commercial business strategy Operational Information • Strong cash flow profile and solid balance sheet • Robust corporate governance and board of directors Regulation with experienced management Company Overview Page 2

  2. Page 3 Company Operational Commercial Financial Strategic Regulation Overview Information Revenues Information Matters Geographical presence Airport operations in attractive locations in Mexico and the Caribbean

  3. Page 4 Company Operational Commercial Financial Strategic Regulation Overview Information Revenues Information Matters from various destinations flight times Illustrative Cancún: Close to major U.S. destinations

  4. Private airports / airport groups listed on global stock exchanges ASUR and GAP are the only Latin American Airport Groups listed on NYSE Strategic Matters Information Financial Commercial Revenues Operational Information Regulation Company Overview Page 5

  5. Page 6 Company Operational Commercial Financial Strategic Regulation Overview Information Revenues Information Matters FCHP & ADO Ownership overview

  6. Established regulatory framework with a track record of rate setting precedents Dual Till Strategic Matters System Information Regulated + Financial Non Regulated Revenues Commercial Revenues Operational Information Regulation Company Overview Note: 2012 Revenues per PAX, expressed In nominal pesos as of Dec 2012; passenger traffic excludes transit and general aviation passengers Page 7

  7. Visibility of capital expenditure requirements through 2013 MDP investment commitments (expressed in June 2012 Million Pesos) 9,902M Strategic 1,318 Matters 1,209 1,038 1,047 1,109 1,012 invested 1,015 1999-2011 855 699 677 Information 626 Financial 496 269 170 242 2 Commercial Revenues 1 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 • Visibility on capital expenditure requirements, as maximum rate negotiated along Operational Information with Master Development Plan (MDP) is a function of programmed capex • Key projects completed: • Key future projects:  1999: Government capex backlog  Terminal building expansion in HUX,  2005: 9/11 security standards MID, OAX, VER and VSA Regulation  2006-2007:Terminal 3 and second  Relocation of the General Aviation runway in CUN Apron in CUN  Passenger flow separation in CUN  Runway expansion in HUX Company Overview  Taxiway expansion in VER 1 Committed investments from May 1999 to Dec 2000 2 242 million pesos have been paid each year (anticipated) – Terminal 3 & Second Runway – Cancún Airport Note: Committed investments according to Master Development Plan, expressed in million pesos as of June 2012 based on the Mexican Page 8 construction price index in accordance with the terms of the Master Development Plan; ;2012 & 2013 Estimated

  8. ASUR’s airports are among the most frequented in Mexico Mexican Airports by PAX (thousand PAX) Strategic Matters Group Rank Pax (‘000s) Var % 2012 Airport 12 vs. 11 2011 2012 AICM Mexico City 26,365 29,481 11.8% 1 Information Financial ASUR Cancun 13,022 14,463 11.1% 2 GAP Guadalajara 7,155 7,419 3.7% 3 OMA Monterrey 5,583 6,106 9.4% 4 5 GAP Tijuana 3,488 3,751 7.5% GAP Los Cabos 2,754 2,801 1.7% 6 Commercial Revenues 7 GAP Puerto Vallarta 2,482 2,409 -3.0% ASUR Merida 1,226 1,278 4.3% 8 9 GAP Hermosillo 1,142 1,222 7.0% OMA Culiacan 1,071 1,168 9.1% 10 ASUR Villahermosa 851 998 17.3% 11 Operational Information 12 TLC Toluca 1,579 987 -37.5% GAP Bajio 833 930 11.7% 13 ASUR Veracruz 14 867 927 6.9% OMA Chihuahua 782 855 9.3% 15 OMA Cd. Juarez 16 673 699 3.9% OMA Mazatlan 722 669 -7.3% 17 2012 Regulation Total PAX OMA Tampico 18 548 595 8.5% 06-12 CAGR Int PAX Dom PAX Total PAX OMA Acapulco 596 547 -8.3% 19 10,609 8,637 19,247 5.7% 20 GAP Mexicali 482 513 6.4% ASUR Oaxaca 401 491 22.3% 21 7,313 13,975 21,287 0.6% ASUR Huatulco 22 460 486 5.7% Company Overview 1,825 10,769 12,594 1.1% GAP La Paz 478 482 0.8% 23 ASUR Cozumel 24 442 460 4.3% All of Mexico 1 29,572 56,719 86,291 2.7% OMA Zihuatanejo 481 458 -4.7% 25 1 According to the Communications and Transport Ministry’s website Page 9 Source: Company financials, AICM website: Note: Selected airport sample includes ASUR, GAP, OMA and OHL concessions and the Mexico City airport; PAX traffic excludes transit and general aviation PAX

  9. Revenue and passenger breakdown 2012 Revenue per PAX: Ps.232 Strategic Matters 2012 Revenues by business by airport Ps.4,457M Information Other 10.9% Financial Villahermosa Non-aeronautical 36% Regulated 3.6% 67% Commercial Merida 32% 5.3% Commercial Revenues Cancun 80.2% Aeronautical 64% Operational Information 2012 PAX by type by airport 19.2M Other 13.5% Villahermosa Regulation 5.0% Domestic Merida 45% 6.4% Cancun 75.1% International Company Overview 55% 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. PAX traffic Page 10 excludes transit and general aviation.

  10. ASUR traffic evolution 19.2 1990 – 2012 Strategic Domestic International Cancun Airport Matters 17.8 17.5 CAGR: 5.8% 16.7 10.6 16.2 15.5 10.1 10.1 Information 9.8 13.9 13.8 9.1 Financial 13.3 14.5 8.8 12.2 13.0 11.4 12.6 11.2 8.6 12.4 8.1 8.0 11.0 10.6 11.3 11.2 7.1 Commercial 9.8 Revenues 9.4 6.8 6.6 6.4 10.0 9.7 9.3 8.5 5.9 8.3 8.0 8.7 7.8 5.0 5.4 7.4 7.7 7.7 7.6 3.6 4.0 4.1 7.0 6.2 5.6 3.1 3.5 6.2 5.9 Operational Information 5.1 4.8 2.8 4.4 4.3 3.5 2.6 3.9 3.3 3.4 3.0 2.1 2.2 Regulation 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 7.5 8.6 1.2 1.3 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2M12 2M13 (12.5) 7.6 7.0 Company YOY Growth (%) 10.7 19.4 5.4 9.0 (5.9) 3.8 13.3 4.3 8.4 7.7 (1.8) (2.2) 10.9 14.0 (4.1) 3.4 17.8 9.3 4.9 9.7 Overview 6.6% CAGR ’90–’12 (INT’L): Source: ASA from 1990-1998. ASUR management thereafter 4.9% CAGR ’90–’12 (DOM): Note: Transit and general aviation excluded 7.4% CAGR ’90–’12 (Cancun): Page 11

  11. ASUR has a balanced mix of domestic and international traffic Passenger traffic by Origin – Destination (million PAX) Strategic Matters Information Financial % Change % of total CAGR Commercial Region 99 00 01 02 03 04 05 06 07 08 09 10 11 12 2012 1 Revenues 12 vs. 11 99-12 5.0 5.0 4.9 4.8 5.3 5.6 5.5 5.9 7.4 8.1 7.0 7.2 7.7 8.9 Mexico 16.2 46.5 4.5 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 6.2 6.2 (0.2) 32.1 3.2 Operational Information 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 1.3 1.5 13.1 7.8 6.3 0.3 0.4 0.5 0.6 0.7 0.8 0.8 0.8 1.0 1.3 1.3 1.5 1.7 1.8 Canada 3.6 9.2 14.8 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 0.6 0.9 4.4 3.9 38.3 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 0.0 0.0 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 17.5 19.2 9.7 100 4.7 Company Overview 1 Note: % of total refers to 2012 figure Note: Excludes transit and general aviation; Page 12

  12. Historically, traffic has recovered and grown after exogenous events 25 May '09: AH1N1 Sep. '08: Financial Crisis Passenger Strategic Matters Oct. '05: Hurricane Wilma 19.48M traffic during 20 Jul. '05: Hurricane Emily last 12- Information months at Financial Sep. '01: 9/11 Note: Excludes transit and general aviation passengers 15 each specific date (million 10.73M Commercial Revenues PAX) 10 8.75M Operational Information 5 0 Regulation feb-00 ago-00 feb-01 ago-01 feb-02 ago-02 feb-03 ago-03 feb-04 ago-04 feb-05 ago-05 feb-06 ago-06 feb-07 ago-07 feb-08 ago-08 feb-09 ago-09 feb-10 ago-10 feb-11 ago-11 feb-12 ago-12 feb-13 Domestic International Total Company Overview EVENT RECOVERY AFTER Type of PAX Historical Max. (%) Feb13 vs. Hist. Max Sep ‘01: 9/11 13 months Domestic Feb’13 0.0% 0.0% Oct ‘05: H. Wilma 16 months International Feb’13 0.0% May ‘09: H1N1 26 months TOTAL Feb’13 Page 13

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