Grupo Aeroportuario Del Pacifico Sab De Cv Class B · BMV:GAP/B
Grupo Aeroportuario Del Pacifico Sab De Cv Class B — Q2 2020 Earnings Presentation
36 slides from Grupo Aeroportuario Del Pacifico Sab De Cv Class B's earnings presentation, July 2020
Slide 1: Corporate Presentation, Second Quarter 2020
Persie DPPten tetion, Second Quarter 2620 — The ae me (Ee /)
Slide 2: Recent event
Recent event if ackg round * In December 2019, a new coronavirus strain, COVID-19, appeared in Wuhan, China. On March, 11 the WHO declared that the outbreak was a pandemic. * In Mexico, there have not been any flight restrictions. In Jamaica, the Government suspended all incoming international fligh
Slide 3: Measures & Effects
Measures & Effects COVID-19 os Decrease in passenger traffic by 86.4% in the 2Q20 ><> Average monthly cash burn of ~ MXN$500 millions Drawdown of two credit lines with Scotiabank and BBVA for MXN$1.0 billion each, in April and May, respectively Issuance of MXN$4.2 billion in long-term bond certifica
Slide 4: GAP at a glance
14 MXP 14.31 billions 372 MXP 9.8 billions 39 MXP 5.5 billions 48.7 millions MXP 2.5 millions MDP 2020-2024 1,540
Slide 5: Passengers (thousands)
Passengers (thousands) *GAP took control of the airport in the 4Q19, but the figure considers 12M19
Slide 6: Shareholders' Structure
Shareholders’ STRUCTURE Controladora Mexicana de Aeropuertos (CMA) AENA 66.7% 33.3% I Aeropuertos Mexicanos del Pacifico (AMP) Public float 85% 15% > < Grupo Aeroportuario del Pacifico 12 airports in Mexico MBJ Airports Limited & 74.5% PAC Kingston Airport Limited 100.0% GAP’s board members 6 indepe
Slide 7: GAP's Strengths
GAP'S 2014 TRENGTHS “ Montego Bay r 15% Tijuana 11% ie i 27% aves Pesos REVENUE TOTAL REVENUES? Guadalajara BY AIRPORT Puerto Vallarta 23% 18%. USD Others 57% VER Domestic /* 26% 41% PASSENGER Leisure * PASSENGER PROFILE DISTRIBUTION IN OUR AIPORTS. ~24% . Business 9 43% 3%-S International Other
Slide 8: Largest Mexican private airport operator
Largest mexican private, | RPORT OPERATOR CGAP,AICMOMAASUR aN 26.3% vy 272% x% 202 4K Q ae Wo i oe be en ied + 22.3% + 221% MA: 4 . 4 4.2% 14.3% MA a 41% 14.5% 50.3 IN 2019 GAP OPERATED 5 OF THE 10 MOST IMPORTANT AIRPORTS IN MEXICO i = 25.5 14.8 11.2 8.9 5.6 51 [| | ~ _ = ee 8 Monterrey: Tijuana Los
Slide 9: Airport Industry
Airport Industry
Slide 10: Seats and Passengers
52 44 40 36 33 28 Seats 25 24 23 22 Passengers 21 21 20 20 19 19 18 16 16 16 16 15 Source: IATA AirportsIS, GAP
Slide 11: Airport traffic 6M20 vs 6M19
Change Airport 6M20 vs 6M19 19 vs 18 18 vs 17 17 vs 16 16 vs 15 15 vs 14 Guadalajara 3,848.1 -46.3% 3.4% 12.1% 12.4% 16.4% 12.1% Tijuana 2,705.3 -36.9% 13.9% 10.3% 12.2% 30.0% 11.0% ~79.7% Los Cabos 1,454.0 -49.9% 6.9% 6.9% 15.6% 16.3% 11.2% Puerto Vallarta 1,513.1 -46.0% 6.0% 5.4% 11.3% 13.1% 14.9%
Slide 12: Airline fleet 2020 pre- and post-COVID
Fleet 2020 Fleet 2020 Airline pre- COVID post- COVID 87 82 38 38 130 105 78 9
Slide 13: Airline passengers 6M20 vs 6M19
Load factor Airline PAX 6M20 PAX 6M19 Change % 2020 2019 Volaris 5,450,264 9,069,419 - 3,619,155 -39.9% 56.2% 86.6% VivaAerobus 1,579,466 2,411,659 - 832,193 -34.5% 53.3% 85.4% Aeromexico 1,337,784 2,690,588 - 1,352,804 -50.3% 67.8% 79.1% American 852,045 1,492,674 - 640,629 -42.9% 53.1% 88.3% Inter
Slide 14: Airport infrastructure and connectivity
❑ Infrastructure development to meet future demand and ensure a seamless connection process: ▪ Second runway ▪ New aprons ❑ Outstanding domestic and international connectivity ▪ More direct routes to U.S. than to Mexico City (28) ▪ 33 domestic routes ▪ 28 international routes ❑ Main HUB for Volaris
Slide 15: Migrant transit building
❑ Building will enable migrants in transit to travel without being processed by Mexican Authorities ❑ Opens possibilities to exploit potential international routes, mainly from the US ❑ Facilitates the transit of passengers heading to Mexico and international destinations
Slide 16: Revenue
Revenue DEVELOPMENT ‘e.
Slide 17: Aeronautical revenues
Aeronautic 2,958 2010 EVENUES 3,617 3,078 as 2011 2012 2013 Figuresin millionsof pesos 3,926 2014 2015 2016 2017 2018 2019 7
Slide 18: Commercial revenue trend
Commercial Revenue TREND @ Direct Mexico 2,573 519 @ Third-party Mexico 2,246 mn @ Total Jamaica a6 1,958 1,676 1,448 oo 1,076 1,185 we 936 - 920 738 784 758 706 553 636 574 984 on ep 625 650 ue 164 231 ey * 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Figuresin millions of pesos 18
Slide 19: Revenue per passenger
Revenue per PAX 53.0 GDL FFiguresin MXN 1318 124.8 SID TREND 1159 119.3 78.6 MBs ©2018 m2019 PVR 479 38.9 Tw 72.6 66.4 Others 19
Slide 20: Commercial strategy
Commercial ——p ATEGY S__ Direct operation * More units and new image * Launch loyalty program * Develop new business line according to passenger needs Expansions * Increase in commercial square meters _ * Redesign in accordance with consumption trends * Develop a more comfortable and enjoyable exper
Slide 21: Main projects 2020-2024
Main projects 2020-2024
Slide 22: Deferral of Master Development Plan investments
We are analyzing with the authorities the deferral of the investments included in the Master Development Plans, which were committed to be executed this year. With the substantial change in demand due to COVID19, the capacity growth needs at airports decrease significantly. 2,309,223 2,083,147 2,627
Slide 23: Expansion of current terminal
Expansion of current terminal Hotel 180 rooms 2 new and waste water runway treatment plants 13,800 Sqm of parking lot 23
Slide 24: New terminal building
New procestor terminal building 4 additional boarding gate New terminal for international Passenger transit 15,000.4m Development of new international routes 24
Slide 25: New terminal building and boarding gates
15 additional 8 new boarding gates aprons New terminal building neutral footprint Law waste water treatment plant 42,000 t4m 25
Slide 26: Terminal expansion
28 additional aprons 2 additional boarding gates Expansion of national and international terminal buildings 10,500s9m 26
Slide 27: Financial Highlights
Financial HIGHLIGHTS
Slide 28: Key financial drivers
Key financial drivers Preserve liquidity Le =a Ss Optimize operational leverage fe} oN Compliant debt covenants = Maintain investment grade 8 Improve WACC Financial targ ets Net debt to EBITDA: below 3.0x ras Capital Structure: 50 / 50 WACC: below 9.0% 28
Slide 29: USD 33*
USD 191* USD 33* USD 191* USD 33* USD 191* USD 191* USD 33* USD 33*
Slide 30: Second quarter and six-month results
2,577,773 551,875 (78.6%) 5,209,098 3,675,657 (29.4%) 957,275 331,641 (65.4%) 1,858,600 1,353,482 (27.2%) 122,363 601,542 391.6% 268,850 1,424,757 429.9% 3,657,411 1,485,058 (59.4%) 7,336,548 6,453,897 (12.0%) USD 191* USD 33* USD 191* 705,304 643,554 (8.8%) 1,300,943 1,380,112 USD 33* 6.1% USD 191*
Slide 31: Total revenue, expenses and EBITDA
USD 191* USD 33* USD USD 191* 191* USD 33* USD 191* USD 191* USD 191* USD 33* USD 33* Total Revenue (1) 17 USD 191* 51 68 31% 1,557 Total Expenses 4 26 30 36% 688 EBITDA 13 25 38 29% 869 USD 33*
Slide 32: Total debt
Amount (thousands) Interest rate Spread Maturity 7.08% n/a feb-25 TIIE 28 0.49% jul-21 TIIE 28 0.49% mar-22 TIIE 28 0.44% nov-22 TIIE 28 0.45% mar-24 TIIE 28 0.17% feb-25 TIIE 28 0.85% jun-23 8.14% n/a jun-27 TIIE 28 1.00% jul-21 6.99% n/a may-22 Libor 30 0.99% ene-21 Libor 30 1.05% feb-21 Libor 30
Slide 33: (Figures in millions of pesos) *Exchange rate as of June 30, 2020 $22.9715
USD 33* USD 33* (Figures in millions of pesos) *Exchange rate as of June 30, 2020 $22.9715
Slide 34: Credit ratings and covenants
deste ATINGS Standard & Poor's: mxAAA- National Scale Outlook: Stable Issued on June 1, 2020 so ©” Moody's: Aaa.mx — National Scale Baal — Global Scale Outlook: Negative Issued on May 27, 2020 Downward rating if: Net Debt to EBITDA ratio over 3x Interest Coverage below 5x FFO/ Debt ratio below 30% C
Slide 35: M&A activity & opportunities
MA ACTIVITY & OPPORTUNITIES Main drivers to invest Potential opportunities © <<>> Country Grantley Adams International Airport (Barbados) Pax: 2.1 million in 2019 TOE | Regulatory Framework Request for Qualification ("RFQ") was presented 5 Request for Proposal ("RFP") hasn’t been published yet ol Pa
Slide 36: Contact
Saúl Villarreal Chief Financial Officer svillarreal@aeropuertosgap.com.mx Alejandra Soto IR & Financial Planning asoto@aeropuertosgap.com.mx Gisela Murillo Investors Relations gmurillo@aeropuertosgap.com.mx Website www.aeropuertosgap.com.mx Corporate Headquarters Av. Mariano Otero No. 1249-B 6th flo
Grupo Aeroportuario del Pacífico — Q2 2020 Earnings Presentation on 6ix