Volaris: The #1 ULCC Serving , USA and Central America

March 2019 Disclaimer

The information ("Confidential Information") contained in this presentation is confidential and is provided by Controladora Vuela Compañía de Aviación, S.A.B. de C.V., (d/b/a Volaris, the "Company") confidentially to you solely for your reference and may not be retransmitted or distributed to any other persons for any purpose whatsoever. The Confidential Information is subject to change without notice, its accuracy is not guaranteed, it has not been independently verified and it may not contain all material information concerning the Company. Neither the Company, nor any of their respective directors makes any representation or warranty (express or implied) regarding, or assumes any responsibility or liability for, the accuracy or completeness of, or any errors or omissions in, any information or opinions contained herein. None of the Company nor any of their respective directors, officers, employees, stockholders or affiliates nor any other person accepts any liability (in negligence, or otherwise) whatsoever for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection therewith. No reliance may be placed for any purposes whatsoever on the information set forth in this presentation or on its completeness.

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This presentation contains statements that constitute forward-looking statements which involve risks and uncertainties. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends affecting the financial condition of our business. Forward-looking statements should not be read as a guarantee or assurance of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time those statements are made and/or management’s good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. In addition, in this presentation, the words “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “predict,” “potential” and similar expressions, as they relate to our company, our business and our management, are intended to identify forward-looking statements. In light of these risks and uncertainties, the forward-looking events and circumstances discussed in this presentation may not occur and actual results could differ materially from those anticipated or implied in the forward-looking statements. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the cautionary statements set forth above. Forward-looking statements speak only as of the date of this presentation. You should not put undue reliance on any forward-looking statements. We assume no obligation to update forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information, except to the extent required by applicable law. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward- looking statements. 2 Volaris is the largest point-to-point domestic carrier and the #1 foreign airline with the most destinations in the U.S.

Serving 67 destinations throughout Mexico (40), USA and Central America (27)

CAGR 2008 2018 (08-18) Unit cost (CASM ex-fuel; cents, 5.5 4.5 -1.9% USD)(1)

ASMs 4.9 21 15.7%

Aircraft 21 77 13.8% (End of period) Routes 42 194 16.5% (End of period)

Passengers (mm) 3.5 18.3 17.9% Destinations Operating Volaris revenue 4.4 27.3 20% (bn, MXN) Frontier Adj. EBITDAR 0.7 5.9 23.8% (bn. MXN)

3 (1) Converted to USD at an average period exchange rate Sequential TRASM improvement and Continuous CASM ex-fuel reduction TRASM improvement (% y-o-y)

CASM ex fuel (% y-o-y)

4 Market capacity growth (emerging market), realigning the US market towards the domestic market

Total Market seat growth- Mexico from/to USA

Total capacity growth by quarter

Total Market seat growth- Mexico domestic

*Mexico domestic and international from/to United States markets 5 Source: MI-DIIO The Mexican aviation market continues to be a high growth emerging market

Passengers from Mexico to all (2014-2018) CAGR 100M 96 (14-18) 90 83 10% 80 75 67 Other 8% 60 International

US 32% Volaris’ 40 contribution for domestic growth (1) 20 Domestic 11%

0 2014 2015 2016 2017 2018 Growth 8 12 11 9 7 (%)

Emerging markets grow far more and faster than developed 6 Source: DGAC markets (1) For 2006-2018 period ASM deployment in line with first time travelers’ volume growth

Volaris ASMs and load factor 2018 evolution Full year Full year Variance 2018 2017 ASMs (in millions, scheduled & charter) 15% Domestic 14,519 12,740 14.0% 13 International 6,491 6,121 6.0% 12 Total 21,010 18,861 11.4% 11 Load Factor (in %, scheduled) 10 9 Domestic 87.2% 86.8% 0.4 pp International 78.5% 79.4% (0.9) pp Total 84.5% 84.4% 0.1 pp Passengers (in thousands, 5 scheduled & charter) Domestic 14,829 13,051 13.6% International 3,567 3,376 5.7% 0 Total 18,396 16,427 12.0% 1Q'18 2Q'18 3Q'18 4Q'18 Load Factor 82.2% 85.7% 83.5% 86.5%

Approximately 6% of our passengers are first time flyers and 10% considered taking a bus before purchasing a ticket on Volaris (1)

7 (1) NPS internal survey Remittances and the consumer confidence with a healthy growth during 2018

%

% Air transportation market is still only a fraction of the bus market

Significant upside for air travel Bus switching program

Education Total bus passengers in Total air travel passengers Mass media campaigns Mexico (mm) in Mexico (mm) “Tarifa no + camion” positioning Digital capabilities Trial 3,004 2,729 Ticket giveaway 90 #Nomáscamión

2,655 2,922 First sell 45 57 Strong conversion rate

29 ULCC model

Attracting 1st time flyers 29 45 74 82 -We have identified ~38 million Mexicans that 20122012 2016 2017 20122012 2017 2017 have never traveled by plane. First, economy and other Executive and luxury International Domestic -A third of our 2018 growth was composed by first time air travelers.

(1) Closing data for 2018 9 Source: Secretaría de Comunicaciones y Transportes (SCT), 2017 More passengers fly with Volaris due to low fares, even lower than buses (1)

Growing demand through lower fares Average total fare (MXN, 2018)

Route Volaris Hrs. Bus* Hrs. Culiacan- 564 2.2 1,100 15.5 - 979 3.1 2,774 31.0 Tijuana Mexico - Tijuana 1,097 3.8 1,805 29.7

Bajio-Tijuana 842 3.2 2,676 25.8

Cancun- Mexico 664 2.6 1,205 25.9

Durango-Tijuana 1,497 2.6 2,263 20.2

24.5% of our total ASM’s capacity has no airline competition(1)

(1) In segments above 6 hours Note: Fares by segment observed on December, 2018; Passengers and base fare smoothed using 12 months simple moving average 10 Source: Banco de México; Ground carriers public information Volaris is now the market leader in domestic market showing the ULCC model penetration

Domestic Market International Market 27 30 32 36 39 44 47 28 30 33 37 42 45 50 5 5 5 6 7 7 6 15 53 15 15 34 13 25 12 16 11 08 10 41 5 12 24 41 4 12 24 51 5 12 25 41 5 13 24 21 5 14 22 11 5 17 21 11 5 18 21 711 17 713 17 713 17 715 17 617 16 419 14 518 15 44 44 44 45 45 46 48 820 38 623 36 623 36 425 34 128 31 927 29 728 27

2 3 5 6 1 1 18 2 3 4 8 0 1 1 01 01 0 0 016 017 01 20 2 2014 20 2 2017 2 2 2 201 2015 2 2 2 11 Source: DGAC, Full year 2018 information. In the AICM, Volaris with only 14% of total seats offered at AICM

Total market seats per competitor 2018 AICM seat share by competitor 2018

12 Note: Excluding small competitors and Central America for Volaris; MECE Source: MI-DIIO Healthy capacity growth contribution during 2018

+ Additional frequencies (1) 8.6%

+ Connecting existing airports 0.6%

+ New airports 0.1%

+ Volaris Costa Rica 2.1%

= Total ASM growth 11.4%

Our "2019" ASMs’ growth would be in the range of 9% to 12%

13 (1) From the 8.6%, On top bus represents 1.6%, Other additional frequencies represent 7% Non-ticket revenues continue to grow, with upside potential Non-ticket revenue per passenger Volaris (MXN) per passenger Ancillaries

2011-2018 CAGR: + 18.9% • Apply revenue management techniques 479 - Pricing by route, season, day 426 381 - Fully dynamic pricing for some products 338 279 - Focus on our most important ancillary 204 211 products 142 • Add products - New products & services: Third fare, membership programs: Vclub, Vpass; 2011 2012 2013 2014 2015 2016 2017 2018 YAVAS travel experience platform Best-in class ULCCs, including first bag fee - Enhancements to existing products (4Q 2018 (1), as % of total operating revenue)(2) • Improve digital channels 48% - Expansion of our payment portfolio, now 43% offering deferred payments to US citizens 35% - Multi-currency processing service 32% - More touch-points to sell ancillaries throughout the journey • Benefit from network diversification - More international capacity

Volaris Ryan Air Wizz Spirit Non-ticket revenue per pax $26 $19 $31 $57 Increasing non-ticket revenue allows to reduce (USD) fare further and stimulate demand (1) public information for 4Q 2018. 14 (2) Financial information converted to USD using an average exchange rate for the period only for purposes of the presentation. Volaris’ Costa Rican AOC provides growth potential in Central America and to the U.S. Central America key insights Long-term potential markets • Volaris holds Foreign Air Carrier Permit in the U.S. for its Costa Rican Operations -Through Direct flights for example: -Los Angeles International Airport to El Salvador International Airport and to La Aurora International Airport -John F. Kennedy International Airport to El Salvador International Airport - Washington Dulles International Airport to El Salvador International Airport • The right market - Costa Rica is top three middle class growth of LATAM (GDP growth of 4.6% in 2017) • The right moment -No ULCC presence in the region • The ULCC model - Growth sustainable and proved model, easily translatable to Central America 1 million total passengers since - USD denominated revenue contributing to FX the beginning of operations in CAM; natural hedge however represents 3.5%(1) of total ASMs

Source: World Bank, ALTA, MI-DIIO, CEPAL Infare, Banco Central de Costa Rica. 15 (1) Full year 2018 between two Ultra Low Cost Carriers, Frontier and Volaris, supporting growth in Load Factor First codeshare between two Ultra Volaris and Frontier’s networks Low Cost Carriers • Frontier business model is aligned to Volaris’ ULCC model • Codeshare operating in 8 connecting airports and over 170 new connecting routes. This represents 64 new US destinations for Volaris.

Benefits

• In December, codeshare passengers accounted for more than 4% of customers in the Mexico-US routes. • For 2019, we plan to implement some codeshare activity enhancements such as increasing connecting airports to ~21. • We are also looking at cost synergies at certain US and Mexican airports.

Strong connectivity potential: ~ 50 destinations and ~ 270 new beyond routes(1)

16 (1) As of August 2018 Volaris’ fleet plan driving lower unit costs, NEO fleet as our main competitive structural advantage Fleet Commitments (number of aircraft)(1)

• A321 (CEO and NEO) - 230 seats (up-gauge) 102 (2) 97 - ~10% CASM dilution 87 12 20 77 80 6 10 • A320 NEO 71 4 5 10 10 10 - Fuel consumption reduction by 10 10 (2) 6 12 16 25 32 approx. 14-19% per seat 37 28 28 28 • A320 CEO with sharklets 28 28 - Fuel consumption reduction by 15 25 15 13 approx. 3%(2) 12 12 12 8 8 7 6 6 3 2017 2018 2019E 2020E 2021E 2022E • All PDP requirements fully financed for next three year A319 A320 A320 w/sharklets deliveries A320neo w/sharklets A321 w/sharklets A321neo w/sharklets NEO %8 21 26 36 45 56

Backlog of 110 Aircraft to support growth (3)

Note: NEO stands for the Airbus new engine option; CEO stands for the Airbus current engine option (1) Net fleet after contractual additions and returns, although we cannot guarantee that our fleet will increase as indicated in the table above. (2) Source: Airbus 17 (3) As of December 2018, 30 commitments + 80 follow-on order aircraft; out until 2026 Significant untapped opportunities

In terms of air trips per capita Mexico has plenty potential to grow 2017 air trips per capita (domestic)(1)

2.62 2007 2.26 33M potential additional passengers at Chile’s level 2017

0.63 0.44 0.37 0.37 0.25 0.25 0.24 0.25 0.13 0.25

United States Brazil Chile Colombia Peru Mexico 48% growth Domestic – growth potential of approx. 92 International – growth potential of approx. routes 123 routes Number of routes (2) Number of routes (3)

50 100 40 75 30 50 20

10 25

0 0 USA (VFR) USA (Leisure) CAM, SAM, Canada, Caribbean

(1) Source: BTS, ANAC, JAC, Aerocivil, MTC, DGAC and IMF April 2018 estimates (2) Minimum stage length of 170 miles (2) Minimum stage length of 200 miles; CAM stands for Central America; SAM stands for South America 18 Notes: Growth potential figures calculated as of July 2018 Volaris among the Top three lowest cost operators in the world Long-term unit cost advantage

CASM and CASM ex-fuel (4Q 2018 (1), USD cents) Cost structure • Economies of scale - Dilute fixed costs - High seat density • Young and fuel efficient fleet - Sharklet roll-out - Average age of 4.7 years - NEO Engines rollout - Lower fuel burn • Productive network - Point-to-point - No connections complexity • High aircraft utilization

Continued cost

CASM ex-fuel improvement CASM potential

(1) Public information for 4Q 2018 (2) Viva Aerobus CASM pro forma, excludes extraordinary items such as a reclassification of selling expenses, gains on sale and leasebacks and other non recurring items. (3) DCOMPS = Direct Competitors: Delta, , and United, showing average CASM and CASM ex-fuel. 19 Note: Non-USD data converted to USD using an average exchange rate for the period Source: Airlines public information International airport operations are more expensive

Airport cost per departure (2018 FY) International airport cost per departure can cost as much as 56% more than a domestic operation(1)

Domestic International

MXN Cost per departure (Index: Avg. Mexican Airports = 100)

One third of Volaris’ operations is international 20 (1) Airport taxes included as part of the cost Volaris reduction on unit-cost excluding fuel fully offset fuel cost increase Volaris CASM excl. fuel(1) evolution (2017-2018)

-1% -10% -14% -12% Other 4.89 4.93 4.99 4.90 4.83 4.45 4.31 4.29 Traffic 1.19 1.33 1.39 1.33 1.18 0.98 0.84 1.01

1.12 1.17 1.16 1.06 1.19 1.17 1.12 1.06 Aircraft rent

1.83 1.60 1.62 1.74 1.68 1.53 1.55 1.49 Salaries 0.75 0.83 0.82 0.77 0.79 0.76 0.81 0.73 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18

(2) Average economic fuel 1.82 1.75 1.78 1.95 2.14 2.34 2.29 2.48 price (USD)

Fuel consumption 709 724 725 701 702 699 729 694 (Gal/BH) 21 (1) CASM excluding fuel in US dollar cents (2) Fuel price increase upset on Volaris 2018 full year results Risk management

Fuel price protection (1)

Avg. price & ranges Period Total % hedged(2) Instrument (gal/USD$) 10% $1.84 Asian Calls FY 2019 7% $1.91 – $2.46 Zero-cost collars 32.6 26.2 21.8 21.5 21.3 20.4 17.4 17.3 14.6 14.2 14.2 12.6

t 8 t t it 1 ec r nt is Aug Oc Dec b' Apr Jun Aug Oc D tam es a ar e Copa Deltaexico La ianca Spi Jun'17 F Feb'19 United JetBlue thw llegi Vol om Av A American Sou Aer (1) Information as of December 31st, 2018 22 (2) Approximate percentage of gallons hedged Strong balance sheet and liquidity, well funded for continued growth

Liquidity-cash and equivalents as a % of as of December 2018 LTM Op. Revenue 27% • Unrestricted cash of $5.8 billion pesos 27% (US$ 298 million) as of December 31st , 21% 2018. 18%

• Net cash position of $2.3 billion pesos 14% st (US $118 million) as of December 31 , 10% 2018. 6% • Adjusted net debt to EBITDAR of 6.6x 3% (1) as of December 2018. Copa Gol Volaris Azul Aeromexico Latam • Fully financed pre-delivery payments Adj. net debt / EBITDAR December 2018 LTM for deliveries until 2022. 13.0x Volaris has 100% of operational leases • Expected 2019 net CAPEX (US $170 to $190 million): - PDPs: from US $95 to $105 million, (1) net of PDP reimbursements 6.3x 6.5x 6.6x (includes 3 A/c delivery) 4.8x - Major maintenance: from US $65 to 3.5x 3.9x $70 million. 1.7x - Other: from US $10 to $15 million

Copa Gol Latam Azul Avianca Aeromexico Volaris Interjet

23 Source: Airlines public information LTM December 2018. (1) Excluding supplemental and contingent rent for adjusted debt .

High growth and solid financial performance

Revenues Adj. EBITDAR

10 30 2011 - 2018 CAGR: +17% 27.3 2011 - 2017 CAGR: +25.5% 8.9 24.8 23.5 6.5 6.6 18.2 5.9

14.0 15 13.0 5 11.7 (MXN bn) (MXN (MXN bn) (MXN 8.9 2.8 3.1 2.5 1.2

0 0 2011 2012 2013 2014 2015 2016 2017 2018 2011 2012 2013 2014 2015 2016 2017 2018 Revenue CAGR 2011 – 2018 (1) 2018 Adj. EBITDAR margin

19% 17% 33% 16% 30% 28% 25% 22% 10% 9% 18% 18% 13% 6% 6% 4%

Azul Volaris InterjetAeromexico Latam Copa Gol Avianca Copa Gol Azul Latam Volaris AviancaAeromexicoInterjet 24 (1) Airlines public information December LTM 2018 Volaris’ consistent execution of its ULCC business model well positioned for growth Accomplishments Opportunities

Strong penetration of Mexican air travel A growing middle class, a point-to-point market network and the VFR market

Diversified and resilient point-to-point Geographic diversification, bus Network and an elastic demand for low switching, high aircraft utilization and fares Codeshare (1) Continuous route competiton vs. bus Bus to air substitution network

Successful price unbundling Upside in ancillary revenue

Fleet plan and high utilization; y healthy Sustainable long term cost reduction capacity Management

Financial resilience and dollarized Permanent seek for Return on Balance sheet investment Competitive leasing rate factors RFP for new order from 2020 to in the market 2022

(1) On January 16, 2018; Volaris and executed a Codeshare agreement, which has gotten regulatory approvals 25 On August 23, 2018; Volaris began operations of codeshare flights with Frontier Appendix

26 Consolidated statements of operations summary

2018(1) 4Q 2017 (2) 4Q 2018 (3) % of total operating MXN millions unless otherwise stated (3) 2018 (USD millions) 4Q 2017 (USD millions) 4Q 2018 (USD millions) revenues Passenger revenues: Fares revenues 18,488 939 4,742 240 5,370 273 67.9 Other passenger revenues 7,621 387 1,516 77 2,220 113 28.1 Non-passenger revenues: Cargo 227 12 53 3 71 4 0.9 Other non-passenger revenues 969 49 214 11 248 12 3.1 Total operating revenues 27,305 1,387 6,525 331 7,909 402 100 Other operating income (622) (32) (78) (4) (147) (7) (1.9) Fuel 10,135 515 1,972 100 2,885 147 36.5 Aircraft and engine rent expenses 6,315 321 1,612 82 1,622 82 20.5 Landing, take off and navigation expenses 4,583 233 981 50 1,158 59 14.6 Salaries and benefits 3,125 159 715 36 795 40 10.1 Sales, marketing and distribution expenses 1,501 76 479 24 422 21 5.3 Maintenance expenses 1,518 77 396 20 392 20 5 Other operating expenses 1,130 58 300 15 297 15 3.8 Depreciation and amortization 501 25 131 7 130 7 1.6 Total operating expenses 28,186 1,432 6,508 330 7,554 384 95.5 EBIT (881) (45) 17 1 355 18 4.5 Operating margin (%) (3.2%) (3.2%) 0.3% 0.3% 4.5% 4.5% - EBITDAR 5,935 301 1,760 90 2,107 107 26.6 EBITDAR margin (%) 21.7% 21.7% 27% 27% 26.6% 26.6% - Finance income 153 8 33 2 83 4 1 Finance cost (120) (6) (24) (1) (30) (2) (0.4) Exchange (loss) gain, net (72) (4) 784 40 384 20 4.9 Income tax benefit (expense) 233 12 (356) (18) (281) (14) (3.5)

18 Net (loss) income (687) (35) 454 24 511 26 Net margin (%) (2.5%) (2.5%) 7% 7% 6.5% 6.5% EPS Basic & Diluted (MXN) (0.68) (0.03) 0.45 0.02 0.51 0.03 EPADS Basic & Diluted (MXN) (6.79) (0.35) 4.49 0.23 5.05 0.26

(1) 2018 Non-Audited figures converted to USD at December end of the period spot exchange rate $19.68 for convenience purposes only. (2) 4Q 2017 Adjusted figures converted to USD at December end of the period spot exchange rate $19.74 for convenience purposes only 27 (3) 4Q 2018 figures converted to USD at December end of the period spot exchange rate $19.68 for convenience purposes only Note: 4Q 2017 information advocates new IFRS 15 regulation (adopted during 2018) for comparison purposes only Consolidated statements of financial position summary

December 31, December 31, Dec 31, Dec 31, MXN millions unless otherwise stated 2018 2018 (4) 2017 2017 (5) (USD (USD millions) millions)

Cash and cash equivalents 5,863 298 6,951 352 Current guarantee deposits 791 40 1,353 69 Other current assets 2,620 133 3,009 152 Total current assets 9,274 471 11,313 573 Rotable spare parts, furniture and equipment, 5,782 294 4,376 222 net Non-current guarantee deposits 6,337 322 6,098 309 Other non-current assets 928 47 879 45 Total assets 22,321 1,134 22,666 1,149 Unearned transportation revenue 2,439 124 2,162 110 Short-term financial debt 1,212 62 2,404 122 Other short-term liabilities 5,592 284 4,806 244 Total short-term liabilities 9,243 470 9,372 476 Long-term financial debt 2,311 117 1,079 55 Other long-term liabilities 1,585 80 2,052 103 Total liabilities 13,138 668 12,503 634

520 Total equity 9,182 466 10,163 515 Total liabilities and equity 22,321 1,134 22,666 1,149 Net debt (1) (2,340) (119) (3,468) (175) Adjusted debt (2) 47,728 2,426 45,994 2,330 Adjusted net debt (3) 41,865 2,128 39,043 1,978

(1) Net debt = financial debt - cash and cash equivalents (2) Adjusted debt = (LTM aircraft rent expense x 7) + financial debt (3) Adjusted net debt = adjusted debt - cash and cash equivalents (4) 2018 Non-Audited figures converted to USD at December end of the period spot exchange rate $19.68 for convenience purposes only. 28 (5) 2017 Audited figures converted to USD at December end of the period spot exchange rate $19.74 for convenience purposes only Consolidated statements of cash flows summary

MXN millions unless otherwise stated (3) 2018 2018 (1) 4Q 2017 4Q 2017 (2) 4Q 2018 4Q 2018(3) (USD (USD (USD millions) millions) millions) Cash flow from operating activities Income before income tax (921) (47) 810 42 792 40 Depreciation and amortization 501 26 131 7 130 7 Guarantee deposits 232 12 (230) (12) (752) (38) Unearned transportation revenue 145 7 (190) (10) (368) (19) Changes in working capital and provisions 609 31 595 30 300 15 Net cash flows provided by (used in)operating activities 566 29 1,116 57 102 5 Cash flow from investing activities Acquisitions of rotable spare parts, furniture, equipment and (2,814) (143) (1,143) (58) (1,041) (53) intangible assets Pre-delivery payments reimbursements 668 34 214 11 225 11 Proceeds from disposals of rotable spare parts, furniture and 757 38 77 4 68 4 equipment Net cash flows (usedin) provided by investing activities (1,389) (71) (852) (43) (748) (38) Cash flow from financing activities Treasury shares purchase (57) (3) (10) (1) (42) (2) Proceeds from exercised stock options 11 1 - - 10 - Interest paid (175) (9) (39) (2) (57) (3) Other financecosts (29) (1) - - (11) - Payments of financial debt (1,195) (61) (225) (11) (241) (12) Proceeds from financial debt 1,209 61 1,139 58 491 25 Net cash flows (used in) provided byfinancing activities (236) (12) 865 44 150 8

(Decrease) increase in cash and cash equivalents (1,059) (54) 1,130 58 (496) (25) Net foreign exchange differences (29) (1) 448 22 277 14 Cash and cash equivalents at beginning of period 6.951 353 5,373 272 6,082 309 Cash and cash equivalents at end of period 5,863 298 6,951 352 5,863 298

(1) 2018 Non-Audited figures converted to USD at December end of the period spot exchange rate $19.68 for convenience purposes only (2) 4Q 2017 Adjusted figures converted to USD at December end of the period spot exchange rate $19.74 for convenience purposes only (3) 4Q 2018 figures converted to USD at December end of the period spot exchange rate $19.68 for convenience purposes only 29 Note: 4Q2017 information accordingly advocates new IFRS 15 regulation (adopted during 2018) for comparison purposes only.