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

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Investment Highlights

Long-term concession investments in attractive locations

in Mexico

Established regulatory framework
Track record of consistent passenger growth
Balanced mix of international and domestic traffic
Successful, market leading commercial business strategy
Strong cash flow profile and solid balance sheet
Robust corporate governance and board of directors

with experienced management

Financial Information Commercial Revenues Operational Information Regulation Company Overview Strategic Matters

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Key value drivers

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Financial Information Commercial Revenues Operational Information Regulation Company Overview Strategic Matters

Airport operations in attractive locations in Mexico and the Caribbean

Geographical presence

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Cancún: Close to major U.S. destinations

Illustrative flight times from various destinations

Financial Information Commercial Revenues Operational Information Regulation Company Overview Strategic Matters

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Private airports / airport groups listed on global stock exchanges

Financial Information Commercial Revenues Operational Information Regulation Company Overview Strategic Matters

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

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Ownership overview

Financial Information Commercial Revenues Operational Information Regulation Company Overview Strategic Matters

FCHP & ADO

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Established regulatory framework with a track record of rate setting precedents

Note: 2012 Revenues per PAX, expressed In nominal pesos as of Dec 2012; passenger traffic excludes transit and general aviation passengers

Financial Information Commercial Revenues Operational Information Regulation Company Overview Strategic Matters

Dual Till System

Regulated + Non Regulated Revenues

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1,318 496 269 170 677 1,015 1,209 855 699 1,038 1,047 1,109 1,012 626

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

242 2

Visibility of capital expenditure requirements through 2013

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 construction price index in accordance with the terms of the Master Development Plan; ;2012 & 2013 Estimated

Key projects completed:

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

runway in CUN

Key future projects:

 Terminal building expansion in HUX,

MID, OAX, VER and VSA

 Relocation of the General Aviation

Apron in CUN

 Passenger flow separation in CUN  Runway expansion in HUX  Taxiway expansion in VER

Financial Information Commercial Revenues Operational Information Regulation Company Overview Strategic Matters

9,902M invested 1999-2011

Visibility on capital expenditure requirements, as maximum rate negotiated along

with Master Development Plan (MDP) is a function of programmed capex

MDP investment commitments

(expressed in June 2012 Million Pesos) 1 Page 8

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ASUR’s airports are among the most frequented in Mexico

Financial Information Commercial Revenues Operational Information Regulation Company Overview Strategic Matters

Mexican Airports by PAX (thousand PAX)

1 According to the Communications and Transport Ministry’s website

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

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2011 2012

1

AICM Mexico City

26,365 29,481 11.8%

2

ASUR Cancun

13,022 14,463 11.1%

3

GAP

Guadalajara 7,155 7,419 3.7%

4

OMA Monterrey

5,583 6,106 9.4%

5

GAP

Tijuana 3,488 3,751 7.5%

6

GAP

Los Cabos 2,754 2,801 1.7%

7

GAP

Puerto Vallarta 2,482 2,409

3.0%

8

ASUR Merida

1,226 1,278 4.3%

9

GAP

Hermosillo 1,142 1,222 7.0%

10

OMA Culiacan

1,071 1,168 9.1%

11

ASUR Villahermosa

851 998 17.3%

12

TLC

Toluca 1,579 987

37.5%

13

GAP

Bajio 833 930 11.7%

14

ASUR Veracruz

867 927 6.9%

15

OMA Chihuahua

782 855 9.3%

16

OMA Cd. Juarez

673 699 3.9%

17

OMA Mazatlan

722 669

7.3%

18

OMA Tampico

548 595 8.5%

19

OMA Acapulco

596 547

8.3%

20

GAP

Mexicali 482 513 6.4%

21

ASUR Oaxaca

401 491 22.3%

22

ASUR Huatulco

460 486 5.7%

23

GAP

La Paz 478 482 0.8%

24

ASUR Cozumel

442 460 4.3%

25

OMA Zihuatanejo

481 458

4.7%

Group

Pax (‘000s)

Rank 2012

Var % 12 vs. 11

Airport

Int PAX Dom PAX Total PAX

10,609 8,637 19,247 5.7% 7,313 13,975 21,287 0.6% 1,825 10,769 12,594 1.1%

All of Mexico 1 29,572 56,719 86,291 2.7%

Total PAX 06-12 CAGR 2012

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Revenue and passenger breakdown

by business by airport

Ps.4,457M

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 excludes transit and general aviation.

by airport by type

Cancun

75.1%

Merida

6.4%

Villahermosa

5.0%

Other 13.5% Aeronautical 64% Non-aeronautical 36% Cancun

80.2%

Merida

5.3%

Villahermosa

3.6%

Other 10.9% International

55%

Domestic

45%

Regulated

67%

Commercial

32% Financial Information Commercial Revenues Operational Information Regulation Company Overview Strategic Matters

2012 Revenues

19.2M

2012 PAX 2012 Revenue per PAX: Ps.232

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YOY Growth (%) 10.7 19.4 5.4 (4.1) 9.0 (5.9) 3.8 13.3 4.3 8.4 7.7 (1.8) (2.2) 10.9 14.0 4.9

7.0

3.4 17.8 9.3

(12.5) 7.6

9.7

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 2.6 2.8 3.1 3.5 3.6 4.0 4.1 5.0 5.4 5.9 6.8 6.6 6.4 7.1 8.6 8.1 8.0 9.1 10.1 8.8 9.8 10.1 10.6 2.1 2.2

5.6 6.2 7.4 7.8 8.5 8.0 8.3 9.4 9.8 10.6 11.4 11.2 11.0 12.2 13.9 13.3 13.8 16.2 17.8 15.5 16.7 17.5 19.2 3.3 3.5

3.0 3.4 3.9 4.3 4.4 4.8 5.1 5.9 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 13.0 14.5 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

Domestic International Cancun Airport

ASUR traffic evolution

CAGR ’90–’12 (INT’L):

6.6%

CAGR ’90–’12 (DOM):

4.9%

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

CAGR ’90–’12 (Cancun):

7.4%

Financial Information Commercial Revenues Operational Information Regulation Company Overview Strategic Matters

1990 – 2012 CAGR: 5.8%

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ASUR has a balanced mix of domestic and international traffic

Region 99 00 01 02 03 04 05 06 07 08 09 10 11 12

% Change 12 vs. 11 % of total 2012 1 CAGR 99-12

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 7.7 8.9

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 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 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 1.7 1.8

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

38.3 4.4 3.9 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

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

1 Note: % of total refers to 2012 figure

Note: Excludes transit and general aviation;

Financial Information Commercial Revenues Operational Information Regulation Company Overview Strategic Matters

Passenger traffic by Origin – Destination (million PAX)

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5 10 15 20 25

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

Oct. '05: Hurricane Wilma

May '09: AH1N1

Jul. '05: Hurricane Emily
Sep. '08: Financial Crisis
Sep. '01:9/11

Historically, traffic has recovered and grown after exogenous events

Note: Excludes transit and general aviation passengers

EVENT RECOVERY AFTER Sep ‘01: 9/11 13 months Oct ‘05: H. Wilma 16 months May ‘09: H1N1 26 months Type of PAX Historical Max. (%) Feb13 vs. Hist. Max Domestic Feb’13

0.0%

International Feb’13

0.0%

TOTAL Feb’13

0.0%

8.75M 10.73M 19.48M

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Passenger traffic during last 12- months at each specific date (million PAX)

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jun-08 ene-13

New Airplanes Var. %

INTERJET 11 38 27

245%

VOLARIS 17 41 24

141%

AEROMEXICO 94 116 22

23%

VIVAAEROBUS 7 19 12

171%

AEROMAR 14 16 2

14%

MAGNICHARTERS 5 10 5

100%

GLOBAL AIR 4 2 (2)

(50)%

Subtotal 152 242

90

59%

jun-08 ene-13

Lost Airplanes

MEXICANA 78 (78) ALMA 15 (15) AEROCALIFORNIA 22 (22) AVOLAR 8 (8) ALADIA 3 (3) AVIACSA 26 (26) NOVA AIR 3 (3)

Subtotal 155

(155) a) Existing Airlines b) Suspended Airlines

200
160
120
80
40

40 80 50 100 150 200 250 300 350

jun-08 sep-08 dic-08 mar-09 jun-09 sep-09 dic-09 mar-10 jun-10 sep-10 dic-10 mar-11 jun-11 sep-11 dic-11 mar-12 jun-12 sep-12 dic-12

Lost vs. New Airplanes Available Airplanes Available airplanes Lost airplanes - Suspended Airlines New airplanes - Existing airlines

(155) 90

307 242

After 4.5 years, Mexico hasn’t recovered the level of Airplanes Available

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2014 Industry Estimates: 290 available airplanes

Available Airplanes in Mexico

Source: www.airfleets.net www.aerotransport.org

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10

5.7

3.5 4.0

Selected Int ASUR GAP OMA

Successful commercial strategy

2012 commercial revenue per PAX

vs. peers (US$/PAX)

1 International average 2010 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 2012 average FX of Ps.12.9658/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 2012 figures

1

Commercial revenues per passenger per quarter evolution

(Ps. / passenger in Mexican pesos as of date reported) Financial Information Commercial Revenues Operational Information Regulation Company Overview Strategic Matters

Nominal CAGR 2000 – 2012: 24.6% (Mexican CPI CAGR 2000-2012: 4.4%)

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8.1 10.1 7.5 12.5 17.0 21.2 31.5 44.1 34.9 34.8 46.3 34.9 50.6 45.9 49.3 48.6 57.9 60.6 55.9 61.3 60.1 63.8 66.2 64.4 72.4 75.1 67.8 73.4

0.0 10.0 20.0 30.0 40.0 50.0 60.0 70.0 80.0

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

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1,317 1,707 1,985 1,967 2,104 2,476 2,931

58.8% 61.3% 62.7% 62.8% 60.2% 64.1% 65.8%

00 00 00 00 00 00 00

2006 2007 2008 2009 2010 2011 2012 759 989 989 1,001 1,155 1,481 1,457 1,588 1,891 2,102 2,043 2,283 2,498 2,849 137 171 176 239 311 495 607 651 895 1,067 1,089 1,211 1,361 1,608 741 714 663

897 1,159 1,164 1,241 1,467 1,976 2,064 2,239 2,786 3,169 3,131 4,235 4,573 5,120

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Aeronautical Non-Aeronautical Construction

Track record of consistent revenue growth and profitability

Financial Information Commercial Revenues Operational Information Regulation Company Overview Strategic Matters

Total Revenues CAGR 1999 – 2012: 13.1%

Not including Revenues from Construction Services

Growth rates: ’99 – ’12 CAGR (%)

Passenger traffic

4.7%

Total revenues

13.1%

EBITDA

14.9%

Net income

22.6%

Mexican CPI

4.7% EBITDA & EBITDA Margin (Ps. Mm)

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

CAGR ’06–’12: 14.3%

1999 – 2012 Revenues

Figures for 2010, 2011 & 2012 reflect adoption of MIFRS-17 Note: From 1999 to 2007 figures in nominal Mexican pesos adjusted for inflation as of Dec. 31st of each year 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

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14.3%

7.0% 9.3%

5.7%

0.6% 1.1% 2.7%

12.2%

6.9% 9.6%

232

205 224

266

232 246

ASUR has positively differentiated itself…

Financial Information Commercial Revenues Operational Information Regulation Company Overview Strategic Matters

ACI named Cancun the best airport in Latin America in 2012

(4th year in a row) CAGR in Revenues 2006 – 2012 (%) CAGR in EBITDA 2006 – 2012 (%) Revenue per PAX in 2012 CAGR in PAX Traffic 2006 – 2012 (%)

Mexico Aggregate

The 1st column for each airport group excludes Revenues from Construction Services; the 2nd column includes these revenues.

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41 42 52 47 37 45 46 53 37 39 50 60 39 58 53 57 39 52 49 59 44 50 55 59 44 49 53 60 7 6 7 8 6 6 7 7 5 6 6 8 6 8 8 10 8 9 10 12 8 9 10 11 8 10 10 10

152 157 161 167 161 167 175 172 173 175 175 193 203 201 198 205 207 210 208 212 217 218 217 229 234 234 225 232

50 100 150 200 250 20 40 60 80 100 120

1Q'06 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 3Q'11 4Q'11 1Q'12 2Q'12 3Q'12 4Q'12

Cost of Services Administrative Revenues

51% 21% 11% 9% 8%

Costs of services D&A Concession fee Administrative services Technical assistance

Operating leverage as passenger traffic recovers

Highlights 2012 operating cost breakdown (%) Growth rates: ’06 – ’12 CAGR (%) Revenue and cost per PAX comparison (Ps./PAX)

EBITDA margins have increased despite

major exogenous events such as the H1N1

utbreak, significant increase in crude oil

prices and the global financial crisis

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

Passenger traffic

5.7% Cost of services 7.4%

Revenues

12.2% Administrative services 10.9%

EBITDA

14.3% Total costs 5.4%

Net Income

25.6% Mexican inflation (CPI) 4.3%

Mexican GDP growth

1.9%

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

Financial Information Commercial Revenues Operational Information Regulation Company Overview Strategic Matters

Revenues have grown at a faster rate than total costs and PAX traffic

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444 150 168 186 205 225 600 1,884 750 900 1,080

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Net income Retained earnings Dividends paid

Ps. 1.48 pershare
Ps. 0.50 per share
Ps. 0.56 per share
Ps. 0.62 per share
Ps. 0.68 per share
Ps. 0.75 per share
Ps. 2.00 per share
Ps. 2.50 per share
Ps. 3.00 per share
Ps. 6.28 per share
Ps. 3.60 per share

229 1,042 1,049 1,290 1,321 1,718 2,300

2006 2007 2008 2009 2010 2011 2012

Profitability indicators

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;

3 Note: 2012 dividend pending to be presented and approved by the Annual General Shareholders’ Meeting

Note: 2010, 2011 & 2012 figures reflect the adoption of INIF 17

Financial Information Commercial Revenues Operational Information Regulation Company Overview Strategic Matters

Dividends evolution 1999 - 2012

EBITDA – CAPEX

(Ps. million)

Net Income, retained earnings and dividends evolution

(Ps. thousands) 1

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Robust corporate governance and board of directors

Board of Directors Audit Committee Operations Committee

Nom & Comp Committee

Acq. &

Contracts Committee

Fernando Chico Pardo

Founder and president of Promecap

X X X X

José Antonio Pérez Antón

CEO of Grupo ADO

X X X

Roberto Servitje Sendra1

Chairman of Grupo Bimbo

X X

Ricardo Guajardo Touche1

Former president of BBVA Bancomer

X X X

Francisco Garza Zambrano1

President of CEMEX North America

X X

Guillermo Ortiz Martinez1

Former Governor of Mexico Central Bank for 12 yrs.

X X

Rasmus Christiansen 1

CEO of Copenhagen Airports International A/S

X X X

Luis Chico Pardo

Former economist at the Bank of Mexico

X

Aurelio Pérez Alonso

Deputy Chief Executive Officer of Grupo ADO

X X

1 Five out of nine board members are independent
Sarbanes-Oxley compliant
Four committees led by board members
Audit committee comprised of 3 independent members of the board of directors

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High Corporate Governance Standards

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Experienced management team

Financial Information Commercial Revenues Operational Information Regulation Company Overview Strategic Matters

Long Serving Management Fernando Chico Pardo

President

with company since 2005

Adolfo Castro Rivas

Chief Executive and Financial Officer Head of Investor Relations

with company since 2000

Agustín Arellano R.

Chief Infrastructure Officer

with company since 2010 (experience in the industry for 35 years)

Claudio Góngora Morales

General Counsel

with company since 1999

Manuel Gutiérrez Sola

Chief Commercial Officer

with company since 2000

Carlos Trueba Coll

General Director of Cancún Airport

with company since 1998

Héctor Navarrete Muñoz

General Director of Regional Airports

with company since 1999

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What’s Next?

Further develop our commercial business
Improve our passenger volumes
World Class service – ASQ Program
Improve capital structure
Monitor new business opportunities

Financial Information Commercial Revenues Operational Information Regulation Company Overview Strategic Matters

Short & Long Term Objectives

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ASUR: International Presence in Puerto Rico

Luis Munoz Marin International Airport, in San Juan Puerto

Rico (8.4M PAX during 2012)

February 27th initiated with the operation of the airport:

‐

Term of 40 years

‐

Upfront payment of $615M USD

‐

Equity contributions by each of ASUR and Highstar Capital, 113M USD, Subordinated debt from ASUR 100M USD), project risk 350M USD.(preliminary figures)

‐

Airlines serving LMM will collectively make aggregate payments

f $62M USD/yr for the first five years; years 6-40 the payment

will be increased annually by the U.S. CPI

‐

Revenue-sharing payments to PRPA: fixed at $2.5M USD first five years; 5% of gross airport revenues (years 6-30); 10% of gross airport revenues (years 31-40)

‐

Minimal Capital Improvement projects: $34M USD

‐

Consolidation: Equity method

Financial Information Commercial Revenues Operational Information Regulation Company Overview Strategic Matters

Aerostar:

Limited liability company

wned by

ASUR (50%) & Highstar (50%)

LMM

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