Grupo Aeroportuario Del Pacifico Sab De Cv Class B · BMV:GAP/B
Grupo Aeroportuario Del Pacifico Sab De Cv Class B — Merger or Acquisition (November 2025)
27 slides from Grupo Aeroportuario Del Pacifico Sab De Cv Class B's merger presentation, Nov 13, 2025
Slide 1: Integration of CBX and Technical Assistance Services Internalization
Integration of CBX and Technical Assistance Services Internalization November 13, 2025 Revised Version 1
Slide 2: Disclaimer and Forward-Looking Statements
Disclaimer and Forward-Looking Statements This presentation contains certain forward-looking statements within the meaning of applicable securities laws with respect to the proposed internalization of the Technical Assistance Agreement (“TAA”) and the integration of Cross Border Xpress (“CBX”) into
Slide 3: Disclaimer and Forward-Looking Statements (Cont'd)
Disclaimer and Forward-Looking Statements (Cont’d) These risks, uncertainties and factors, as well as other risks associated with the proposed transactions, are more fully discussed in GAP’s filings with the Mexican Stock Exchange and the SEC, including its Annual Report on Form 20-F and other docum
Slide 4: Accelerating GAP's Growth and Diversification
Accelerating GAP’s Growth and Diversification A • Integration of CBX with Grupo Aeroportuario del Pacifico, S.A.B. de C.V.’s (“GAP”) Tijuana Airport (“TIJ”), the 2nd largest and fastest-growing airport of GAP Integration of the • Access to California, a major U.S. market with strong cross-border tra
Slide 5: Key Transaction Components
Key Transaction Components Strategic Shareholders Reaffirm Confidence in GAP GAP Obtains GAP Delivers • 100% ownership of CBX upon completion of the merger and the • ~90 million new Series B Shares issued to the merger targets’ ancillary transaction shareholders for 75% of CBX, plus TAA services int
Slide 6: Key Transaction Components (Cont'd)
Key Transaction Components (Cont’d) Transaction Expected to Enhance GAP’s Financial Profile Approvals & Timing • The Board of Directors designated the Audit and Corporate Practices Committee, composed of independent directors, to oversee the transaction • Transaction is subject to approval by shareh
Slide 7: Transaction Structure Overview
Transaction Structure Overview The Transaction Will Result in the Integration of CBX and the Simplification of GAP’s Ownership Structure Existing Ownership Structure Post Transaction Ownership Structure AMP Shareholders Public Former AMP Float Shareholders Mexican AENA Shareholders Series B Series B
Slide 8: CBX: Seamless Solution in One of the World's Busiest Border Crossings
A CBX: Seamless Solution in One of the World’s Busiest Border Crossings Tijuana Airport Border Wall What Is CBX? • One-of-a-kind cross-border terminal located in the U.S. and physically connected to TIJ airport • Seamless connection: ~20-minute crossing vs. 2-3 hours at traditional Parking 20 Min. F
Slide 9: Birdseye View of GAP's Footprint Post Transaction
A Birdseye View of GAP’s Footprint Post Transaction Adjacent Land (~60 acres)(1) Parking, Rental Car Center Tijuana Airport Note: 1.To be acquired as part of the transaction 9
Slide 10: How Does CBX Work?
A How Does CBX Work? How Does CBX Work with Border Who Uses CBX? Why Do Customers Choose CBX? Authorities? • Ticketed airline passengers • Gateway for fast, convenient and • CBX is a U.S. land border crossing traveling via TIJ price competitive travel between • U.S. CBP operates inside CBX to the U.
Slide 11: Why Do Travelers Prefer Using CBX?
A Why Do Travelers Prefer Using CBX? The Advantages of Traveling Via CBX/TIJ Have Made It an Increasingly Popular Choice Amongst Southern California Travelers (1) (1) San Ysidro and Otay Land Crossings Flight Connectivity to 35+ destinations ~2 destinations ~15 destinations N/A Mexico Quic
Slide 12: Side-by-Side: CBX vs. GAP
A Side-by-Side: CBX vs. GAP Geographic Footprint • United States • Mexico and Jamaica Currency Split • 100% USD • ~20% USD / ~80% MXN • Regulated – 5-year master plan, which defines allowable tariffs, investment Type of Revenues • Unregulated commitments, and service quality standards End of Concess
Slide 13: TAA Services Internalization
B TAA Services Internalization • AMP provides management and consulting services to GAP under the TAA for a fee ꟷ Fee represents 5% of GAP’s Mexican Airports EBITDA ꟷ Automatic TAA renewal every 5 years(1) (last renewed on August 25, 2024) ꟷ Expected annual savings from the internalization equivalen
Slide 14: Transaction Merits
Transaction Merits 1 CBX: A Unique Infrastructure Asset Driving TIJ’s Sustainable Growth 2 Compelling Value Proposition for Travelers 3 Enhancing to GAP’s Financial Profile 4 Expansion and Diversification of GAP’s Portfolio 5 Commercial Alignment and Revenue Growth Acceleration 6 Actionable Growth O
Slide 15: Mexican Airports Over the Past Decade
1. TIJ Had the Highest Passenger Growth of All CBX TAA GAP Mexican Airports Over the Past Decade… CBX-Driven Growth Accelerates TIJ’s Expansion Historical PAX Growth | Indexed to 100 as of 2015 | Excluded COVID impact from 2020 - 2021 ‘15-’24 CAGR TIJ Growth Pre-CBX 280 ’10-’15 CAGR: 5.9% 260 TIJ 11
Slide 16: ...and CBX Was a Key Driver of TIJ's Growth
CBX TAA GAP 1. …and CBX Was a Key Driver of TIJ’s Growth CBX Is a Resilient Asset with a Double-Digit Traffic Growth Since Inauguration, and a Meaningful Contributor to TIJ’s Traffic Growth Total TIJ and CBX Traffic Since CBX Inauguration and CBX Capture Rate(1) 14.6% 11.1% Traffic in MM Pax, Captur
Slide 17: Compelling Value Proposition for Travelers
CBX TAA GAP 2. Compelling Value Proposition for Travelers CBX Offers the Convenience of Direct Cross-Border Connectivity… Strategic Connectivity and Seamless Border Crossing Expanded Regional and International Reach Over 4 million passenger crossings in 2024 TIJ’s flight destination offering – o
Slide 18: Compelling Value Proposition for Travelers (Cont'd)
CBX TAA GAP 2. Compelling Value Proposition for Travelers (Cont’d) …and the Often-Lower Total Cost of Travel Obtained Via CBX and a Domestic Mexican Airline Flight Average Air Ticket Price(1) Comparison to SAN and LAX Cost-Effective Travel Alternative Average Ticket in US$ 331 342 Access to signif
Slide 19: Compelling Value Proposition for Travelers (Cont'd)
CBX TAA GAP 2. Compelling Value Proposition for Travelers (Cont’d) CBX Offers a Highly Attractive Alternative for California Travelers Convenient Alternative for Most of California Travelers… …As Seen in CBX’s High U.S.-Mexico Passenger Share Top 5 US ’24 PAX to MX ’24 CBX PAX ’24 CBX PAX Heat Map w
Slide 20: Enhancing GAP's Financial Profile
CBX TAA GAP 3. Enhancing to GAP’s Financial Profile CBX Provides High-Margin, Capital-Light Growth, Boosting EBITDA Margin and Free Cash Flow While Enabling Flexible, Strategic Capital Deployment Capital-Light Business Strong Free Cash Flow High Margin Asset Model Conversion Historical Revenue
Slide 21: Expansion and Diversification of GAP's Portfolio
CBX TAA GAP 4. Expansion and Diversification of GAP’s Portfolio Advances GAP’s Long-Term Strategy to Diversify its Business Beyond Regulated Mexican Airport Concessions CBX Will Increase U.S. Dollar Revenues for GAP, Increasing …While Increasing Non-Aero Revenue, Strengthening GAP’s Push Currency Di
Slide 22: Commercial Alignment and Revenue Growth Acceleration
CBX TAA GAP 5. Commercial Alignment and Revenue Growth Acceleration CBX Integration Enables GAP to Capture Additional Revenue by Combining Crossing Ticket Income with Round-Trip Earnings Illustrative Example: Passengers traveling from Guadalajara to TIJ and using CBX to cross into San Diego or Los A
Slide 23: Actionable Growth Opportunities
CBX TAA GAP 6. Actionable Growth Opportunities Targeted Initiatives to Drive Market Expansion, Customer Acquisition, Ancillary Services, and Operational Efficiency Market Customer Expansion of Tech-Driven Long-term Expansion and Acquisition Ancillary Operational Projects Demand and Revenue Services
Slide 24: Actionable Growth Opportunities (Cont'd)
CBX TAA GAP 6. Actionable Growth Opportunities (Cont’d) Birdseye View of Current Infrastructure ~60 acres of underdeveloped land Actual CBX Area Potential sites aligned for future land border crossing development GAP Land Reserve (outside the scope TIJ Airport of the Concession Title. Acquired in Se
Slide 25: TAA Services Internalization to Enhance Profitability
CBX TAA GAP 7. TAA Services Internalization to Enhance Profitability The Internalization Will Lead to Improved Margins for GAP, as well as a Simpler and More Efficient Corporate Structure GAP expects to save approximately 5% of the EBITDA Historical TAA Service Payments generated by its Mexican airp
Slide 26: Benefit from GAP's Share Price Performance
CBX TAA GAP 8. Benefit from GAP’s Share Price Performance GAP’s Share Price Performance Presents a Favorable Backdrop for Equity Issuance GAP share is currently(1) GAP’s Share Price Performance Since 2019 Indexed Share Price Performance trading at ~84% of its all- 350 time high Indexed to 100 as of
Slide 27: Thank you
Grupo Thank you xs Aeroportuario del Pacifico af
Grupo Aeroportuario del Pacífico, S.A.B. de C.V. — Merger or Acquisition (November 2025) on 6ix