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Safe Harbor Statement - ASUR...Jun-08 Sep-10 Dec-16 25 8% jun-08 dic-16 New Airplanes Var. % INTERJET 11 70 59 536% VOLARIS 17 69 52 306% AEROMEXICO 94 133 39 41% VIVAAEROBUS 7 21

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Page 1: Safe Harbor Statement - ASUR...Jun-08 Sep-10 Dec-16 25 8% jun-08 dic-16 New Airplanes Var. % INTERJET 11 70 59 536% VOLARIS 17 69 52 306% AEROMEXICO 94 133 39 41% VIVAAEROBUS 7 21
Page 2: Safe Harbor Statement - ASUR...Jun-08 Sep-10 Dec-16 25 8% jun-08 dic-16 New Airplanes Var. % INTERJET 11 70 59 536% VOLARIS 17 69 52 306% AEROMEXICO 94 133 39 41% VIVAAEROBUS 7 21

Safe Harbor StatementFi

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Some of the statements contained in this presentation discuss future expectations or state other forward-looking information. Those statements are subject to risks identified in this press release and in ASUR’s filings with the SEC. Actual developments could differ significantly from those contemplated in these forward-looking statements. The forward-looking information is based on various factors and was derived using numerous assumptions. Our forward-looking statements speak only as of the date they are made and, except as may be required by applicable law, we do not have an obligation to update or revise them, whether as a result of new information, future or otherwise.

Page 3: Safe Harbor Statement - ASUR...Jun-08 Sep-10 Dec-16 25 8% jun-08 dic-16 New Airplanes Var. % INTERJET 11 70 59 536% VOLARIS 17 69 52 306% AEROMEXICO 94 133 39 41% VIVAAEROBUS 7 21

Management TeamFi

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Management

Fernando Chico PardoChairman of the Board of Directors

with company since 2005

Adolfo Castro RivasChief Executive and Financial OfficerHead of Investor Relations

with company since 2000

Claudio Góngora MoralesGeneral Counsel

with company since 1999

Alejandro Pantoja LópezChief Infrastructure Officer

with company since 2001

Agustín Arellano RodríguezDirector of International Projects

with company since 2010

Manuel Gutiérrez SolaChief Commercial Officer

with company since 2000

Carlos Trueba CollGeneral Director of Cancún Airport

with company since 1998

Héctor Navarrete MuñozGeneral Director of Regional Airports

with company since 1999

Page 3

Page 4: Safe Harbor Statement - ASUR...Jun-08 Sep-10 Dec-16 25 8% jun-08 dic-16 New Airplanes Var. % INTERJET 11 70 59 536% VOLARIS 17 69 52 306% AEROMEXICO 94 133 39 41% VIVAAEROBUS 7 21

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

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Key valuedrivers

Page 5: Safe Harbor Statement - ASUR...Jun-08 Sep-10 Dec-16 25 8% jun-08 dic-16 New Airplanes Var. % INTERJET 11 70 59 536% VOLARIS 17 69 52 306% AEROMEXICO 94 133 39 41% VIVAAEROBUS 7 21

Focus on Corporate Social Responsibility

• Member of Dow Jones and Bolsa Mexicana de Valoressustainability indices

• Active participant of United Nations Global Compact, in Mexico and internationally

• Certified by CEMEFI as Socially Responsible Company (6th year)

• Airports’ Environmental Management Systems certified under ISO 14001

• Environmental Compliance certification from Mexican Environmental Protection Agency

• Focus on quality of life for employees and community relations

• Strict standards of corporate governance and business ethics

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Sustainability is a

key strategy in our business

model

Page 6: Safe Harbor Statement - ASUR...Jun-08 Sep-10 Dec-16 25 8% jun-08 dic-16 New Airplanes Var. % INTERJET 11 70 59 536% VOLARIS 17 69 52 306% AEROMEXICO 94 133 39 41% VIVAAEROBUS 7 21

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Airport operations in attractive locations in Mexico and the Caribbean

Geographical presence

Page 6

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Cancún: Close to major U.S. destinations

Illustrative flight times

from various destinations

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Page 8: Safe Harbor Statement - ASUR...Jun-08 Sep-10 Dec-16 25 8% jun-08 dic-16 New Airplanes Var. % INTERJET 11 70 59 536% VOLARIS 17 69 52 306% AEROMEXICO 94 133 39 41% VIVAAEROBUS 7 21

Private airports / airport groups listed on global stock exchangesFi

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

Page 8

Page 9: Safe Harbor Statement - ASUR...Jun-08 Sep-10 Dec-16 25 8% jun-08 dic-16 New Airplanes Var. % INTERJET 11 70 59 536% VOLARIS 17 69 52 306% AEROMEXICO 94 133 39 41% VIVAAEROBUS 7 21

Ownership overviewFi

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Page 9* Shares with voting rights and delegated voting rights, as of December 30, 2016

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Established regulatory framework with a track record of rate setting precedents

Note: 2016 Revenues per PAX, expressed In nominal pesos as of Dec 2016; passenger traffic excludes transit and general aviation passengers

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System

Regulated + Non Regulated

Revenues

Page 10ASUR adjusts specific tariffs / prices once every six months using the Mexican producer price index, excluding petroleum).

Page 11: Safe Harbor Statement - ASUR...Jun-08 Sep-10 Dec-16 25 8% jun-08 dic-16 New Airplanes Var. % INTERJET 11 70 59 536% VOLARIS 17 69 52 306% AEROMEXICO 94 133 39 41% VIVAAEROBUS 7 21

• Key projects completed:

1999: Government capex backlog

2005: 9/11 security standards

2006-2007:Terminal 3 and second

runway in CUN

2011: Passenger flow separation in CUN

Terminal building expansion: • 2011-2013: HUX, MID, OAX and VSA

• 2014-2016: Terminal 2 & 3 in CUN and VER

• Key future projects:

New Terminal 4 in CUN

Required works for Airport Certification

(9 airports)

0

500

1,000

1,500

2,000

2,500

3,000

3,500

Visibility of capital expenditure requirements through 2018

1 Committed investments from May 1999 to Dec 20002 164 M Pesos pesos have been paid each year (anticipated) –

Terminal 3 Cancún AirportNote: Committed investments according to Master

Development Plan, expressed in million pesos as of December 2016 based on the Mexican construction price index in accordance with the terms of the Master Development Plan.

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million pesos invested

1999-2016

2016 -2017 Construction of Terminal 4

in Cancún • 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 December 2016 Million Pesos)

Page 11

Page 12: Safe Harbor Statement - ASUR...Jun-08 Sep-10 Dec-16 25 8% jun-08 dic-16 New Airplanes Var. % INTERJET 11 70 59 536% VOLARIS 17 69 52 306% AEROMEXICO 94 133 39 41% VIVAAEROBUS 7 21

ASUR’s airports are among the most frequented in MexicoFi

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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 PAXPage 12

Page 13: Safe Harbor Statement - ASUR...Jun-08 Sep-10 Dec-16 25 8% jun-08 dic-16 New Airplanes Var. % INTERJET 11 70 59 536% VOLARIS 17 69 52 306% AEROMEXICO 94 133 39 41% VIVAAEROBUS 7 21

Revenue and passenger breakdown

by business by airport

Ps.7,637M

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 airportby type

Cancun

75.4%

Merida

6.8%

Villahermosa

4.4%

Other 13.4%

Aeronautical 59%

Non-aeronautical 41%

Cancun

80.7%

Merida

5.5%

Villahermosa

3.2%Other 10.6%

International

54%

Domestic

46%

Regulated

62%Commercial

38%

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2016 Revenues

28.4M2016 PAX

2016 Revenue per PAX:Ps.269

Page 13

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0.0

5.0

10 .0

15 .0

20 .0

25 .0

30 .0

19

90

1991

19

92

1993

19

94

1995

19

96

1997

19

98

1999

20

00

2001

20

02

2003

2004

20

05

2006

20

07

2008

20

09

2010

20

11

2012

20

13

2014

20

15

2016

2M

16

2M1

7

ASUR traffic evolution

CAGR ’90–’16 (INT’L): 7.1%CAGR ’90–’16 (DOM): 5.8%Source: ASA from 1990-1998. ASUR management thereafter

Note: Transit and general aviation excludedCAGR ’90–’16 (Cancun): 7.9%

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CAGR: 6.4%

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Page 15: Safe Harbor Statement - ASUR...Jun-08 Sep-10 Dec-16 25 8% jun-08 dic-16 New Airplanes Var. % INTERJET 11 70 59 536% VOLARIS 17 69 52 306% AEROMEXICO 94 133 39 41% VIVAAEROBUS 7 21

ASUR has a balanced mix of domestic and international traffic

1 Note: % of total refers to 2015 figureNote: Excludes transit and general aviation;

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Passenger traffic by Origin – Destination(million PAX)

Page 15

Region 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15%

Change 15 vs. 14

% of total

2015 1

% CAGR 99-15

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 9.7 10.7 12.1 13.1 46.1 5.6

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 6.8 7.6 8.8 15.6 33.8 4.9

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 1.7 1.7 1.7 (0.8) 6.5 5.9

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 1.8 1.9 2.0 5.9 7.6 12.7

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 1.1 1.3 1.6 23.8 6.0 7.1

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 NA 0.0 NA

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 21.1 23.2 26.1 12.9 100 5.8

Page 16: Safe Harbor Statement - ASUR...Jun-08 Sep-10 Dec-16 25 8% jun-08 dic-16 New Airplanes Var. % INTERJET 11 70 59 536% VOLARIS 17 69 52 306% AEROMEXICO 94 133 39 41% VIVAAEROBUS 7 21

Historically, traffic has recovered and grown after exogenous events

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. (%) Feb 17 vs. Hist. Max

Domestic Feb’17 0.0%

International Feb’17 0.0%

TOTAL Feb’17 0.0%

13.3 M

15.6 M

28.9 M

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traffic during last 12-

months at each specific date (million

PAX)

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Page 17: Safe Harbor Statement - ASUR...Jun-08 Sep-10 Dec-16 25 8% jun-08 dic-16 New Airplanes Var. % INTERJET 11 70 59 536% VOLARIS 17 69 52 306% AEROMEXICO 94 133 39 41% VIVAAEROBUS 7 21

(200)

(160)

(120)

(80)

(40)

0

40

80

120

160

200

0

50

100

150

200

250

300

350

400

450

Lost vs. N

ew A

irplan

esA

vaila

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air

pla

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s

Available airplanes

New airplanes - existing airlines

Lost airplanes - suspended airlines

(155)

180

307 332

Jun-08 Sep-10 Dec-16

25 8%

jun-08 dic-16New

AirplanesVar. %

INTERJET 11 70 59 536%

VOLARIS 17 69 52 306%

AEROMEXICO 94 133 39 41%

VIVAAEROBUS 7 21 14 200%

AEROMAR 14 18 4 29%

MAGNICHARTERS 5 10 5 100%

TAR 0 10 10 100%

GLOBAL AIR 4 1 (3) (75)%

Subtotal 152 332 180 118%

jun-08 dic-16Lost

Airplanes

MEXICANA 78 0 (78)

ALMA 15 0 (15)

AEROCALIFORNIA 22 0 (22)

AVOLAR 8 0 (8)

ALADIA 3 0 (3)

AVIACSA 26 0 (26)

NOVA AIR 3 0 (3)

Subtotal 155 0 (155)

a) Existing Airlines

b) Suspended Airlines

After 8.5 years, Mexico recovered the level of Airplanes AvailableFi

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388 available airplanes

Available Airplanes in Mexico

Source:www.airfleets.netwww.aerotransport.org

Page 17

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Selected Int ASUR GAP OMA

Successful commercial strategy

2016 commercial revenue per PAX vs. peers (US$/PAX) – converted at a 2016 average FX of PS. 18.6567/US$ for Mexican Airports

1 International average 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, time-sharing & Hotel-related activities (Revenues from Cargo are excluded); GAP commercial revenues include parking, leasing, retail stores, food & beverage, car rentals, time-share, duty free, advertising, communications, financial services and ground transportation (Revenues from Montego Bay operations are excluded); 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 a 2016 average FX of Ps.18.6567/US$ (banxico.org.mx), 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 2015 figures

Commercial revenues per passenger per quarter evolution (Pesos / Passenger in Mexican pesos as of date reported)

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Nominal CAGR 2000 – 2016: 23.0%(Mexican CPI CAGR 2000-2016: 4.1%)

Page 18

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Track record of consistent revenue growth and profitabilityFi

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Total Revenues CAGR 1999 – 2016: 13.4%Not including Revenues from Construction Services

Growth rates: ’99 – ’16 CAGR (%)

Passenger traffic 6.0%

Total revenues 13.4%

EBITDA 15.4%

Net income 20.7%

Mexican CPI 4.4%

EBITDA & EBITDA Margin (Ps. Mm)

2010 - 2015 EBITDA margin calculated without Revenues from Construction Services for comparability with previous periods

CAGR ’06–’16: 15.3%

1999 – 2016 Revenues

Figures for 2010, 2011, 2012, 2013, 2014, 2015 & 2016 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

Page 19

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ASUR GAP OMA

ASUR GAP OMAASUR GAP OMA

ASUR has positively differentiated itself…Fi

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Cancun as the best airport in Latin America

for 4 consecutive

years

CAGR in Revenues 2006 – 2016 (%)

CAGR in EBITDA 2006 – 2016 (%)

Revenue per PAX in 2016

CAGR in PAX Traffic 2006 – 2016 (%)

Page 20

NOTES: 1. Revenues from Construction services are excluded for ASUR, GAP & OMA.2. ASUR figures exclude revenues & participation of 2016 EBITDA from San Juan Airport Operations (Puerto Rico).3. GAP figures exclude 2016 revenues of $1,622.0 million pesos (equivalent to $50.39 pesos/pax) & exclude 2016 EBITDA of $847.2 million pesos

from Montego Bay Airport Operations.4. OMA figures exclude 2016 revenues of $317.2 million pesos (equivalent to $16.91 pesos/pax) & exclude 2016 EBITDA of $120.4 million pesos

from NH Hotel (Mexico City Airport), Hilton Garden Inn Hotel (Monterrey Airport) & Aero Industrial Park.

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Revenue and cost per PAX comparison (Ps./PAX)

2016 operating cost breakdown (%) Growth rates: ’06 – ’16 CAGR (%)

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; PAX traffic excludes Transit and G.A. PAX.

Passenger traffic 7.5% Cost of services 7.6%

Revenues 13.1% Administrative services 7.7%

EBITDA 15.3% Total costs 6.7%

Net Income 21.3% Mexican inflation (CPI) 3.9%

Mexican GDP growth 2.1%

NOTE: Total Revenue per passenger does not include revenues from construction services. Controllable expenses per passenger exclude: D&A, Concession Fee, Technical Assistance and Cost of Sales from Direct Commercial Operation. 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

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

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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; Note: 2010, 2011 2012, 2013, 2014, 2015 & 2016 figures reflect the adoption of INIF 17 2 Note: 4.00 pesos per share paid in May 2013; 4.40 pesos per share paid in December 2013.3 Note: 6.16 pesos per share to be approved by the Annual General Shareholders Meeting on April 26th, 2017 and, if approved, to be paid on June 15th, 2017.

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Dividends evolution1999 - 2016

EBITDA – CAPEX (Ps. million)

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

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Page 23: Safe Harbor Statement - ASUR...Jun-08 Sep-10 Dec-16 25 8% jun-08 dic-16 New Airplanes Var. % INTERJET 11 70 59 536% VOLARIS 17 69 52 306% AEROMEXICO 94 133 39 41% VIVAAEROBUS 7 21

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 XJosé Antonio Pérez Antón

CEO of Grupo ADOX X X

Roberto Servitje Sendra1

Former Chairman of Grupo BimboX X

Ricardo Guajardo Touche1

Former president of BBVA BancomerX X X

Francisco Garza Zambrano1

Former President of CEMEX North AmericaX X

Guillermo Ortiz Martinez1

Former Governor of Mexico Central Bank for 12 yrs.X X

Rasmus Christiansen 1

Former CEO of Copenhagen Airports InternationalX X X

Luis Chico Pardo Former economist at the Bank of Mexico

XAurelio Pérez Alonso

Deputy Chief Executive Officer of Grupo ADOX 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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Standards

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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

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TermObjectives

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Page 25: Safe Harbor Statement - ASUR...Jun-08 Sep-10 Dec-16 25 8% jun-08 dic-16 New Airplanes Var. % INTERJET 11 70 59 536% VOLARIS 17 69 52 306% AEROMEXICO 94 133 39 41% VIVAAEROBUS 7 21

ASUR: International Presence in Puerto Rico

• Luis Munoz Marin International Airport, in San Juan Puerto Rico (9.0M PAX during 2016)

• Feb 27th, 2013 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, 118M USD, Subordinated debt from ASUR 100M USD), project risk 350M USD.(preliminary figures)

Airlines serving LMM will collectively make aggregate payments of $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

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Limited liability company

owned by ASUR (50%) &

Highstar (50%)

LMM

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Page 26: Safe Harbor Statement - ASUR...Jun-08 Sep-10 Dec-16 25 8% jun-08 dic-16 New Airplanes Var. % INTERJET 11 70 59 536% VOLARIS 17 69 52 306% AEROMEXICO 94 133 39 41% VIVAAEROBUS 7 21

Total income (*) $ 2,049,611 $ 1,600,561

Operating costs and expenses (1,456,915) (1,168,731)

Comprehensive financing loss - Net (444,726) (319,514)

Contingencies 0 (1,257)

Deferred income taxes (46,124) (38,162)

Net profit for the period 101,846 72,897

ASUR - 50% Participation 50,923 36,449

2015 2014

Aerostar Financial Information 2014 & 2015Fi

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rs AerostarTotal income:

$2,049,611(thousands of

Mexican pesos)

LMM

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Condensed Statement of Comprehensive Loss(thousands of Mexican pesos)

(*) Under IFRS, PFC income is shown in the total income line, while under US GAAP it is shown in the other income line.

Aerostar Financial Information for the year 2016 pending to be released.ASUR - 50% participation on Aerostar for the year 2016: $144,248 thousands of Mexican Pesos