Company Update March 2021 Disclaimer This presentation was prepared by Controladora Vuela Compañía de Aviación, S.A.B. de C.V., (d/b/a Volaris, the "Company") with the purpose of providing interested parties certain financial and other information of the Company. This presentation is confidential and may not be retransmitted or distributed to any other persons for any purpose whatsoever. This presentation is for discussion purposes and highlights basic information about the Company and this offering. Because it is a summary, it does not contain all the information that you should consider before investing. The information contained herein 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. This presentation should be read in conjunction with the base prospectus included in the registration statement, and the related prospectus supplement (including any information incorporated by reference therein), filed by Volaris with the Securities and Exchange Commission (the "SEC") in connection with the offering to which this presentation relates. You may get these documents by visiting EDGAR on the SEC website (www.sec.gov). This presentation does not constitute or form part of any offer or invitation for sale or subscription of or solicitation or invitation of any offer to buy or subscribe for any securities, nor shall it or any part of it form the basis of or be relied on in connection with any contract or commitment whatsoever. Recipients of this presentation are not to construe the contents of this presentation as legal, tax or investment advice and should consult their own advisers in this regard. This presentation contains statements that constitute forward-looking statements within the meaning of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934 and the Private Securities Litigation Reform of 1995 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. The risks and uncertainties regarding these forward-looking statements include, but are not limited to, those set forth under the heading “Risk Factors” in the Company’s Report on Form 20 for the year ended December 31, 2019 and in the Company’s other filings with the SEC, which are available at www.sec.gov. Neither the SEC, the Mexican National Banking and Securities and Commission nor any other authority has approved or disapproved the information contained in this presentation, its accuracy or completeness. 2 Volaris is set and financially capitalized to grow and capture opportunities Among the lowest cost airlines in the world Our ancillary revenue focus and point-to-point network support market leadership and stimulation Demographics and bus to air substitution strategy fuels long term growth Fast recovery in terms of ASMs during COVID-19 as Volaris fills the void created by current market opportunities and VFR resilience Flexible fleet and labor contracts provide a unique toolset to capitalize on current and secular growth opportunities Solid liquidity and best positioned to deliver return on invested capital (ROIC) 3 Company Overview The highest-growth ultra-low-cost carrier of Latin America Volaris is the largest Mexican carrier (1) Volaris ultra-low-cost model Volaris has transported 135+ million passengers • Ultra-low-cost airline serving Mexico, the U.S. and Central since inception and almost 10M since COVID-19 started America • Young fleet (5.3 yrs. on average) with 86 aircraft (35% NEOs) (1) NEW YORK • 14.7 M passengers in 2020 WASHINGTON, D.C. • 337 daily flights (1) • 177 routes: 107 domestic and 70 international (1) • 68 airports offered: 43 domestic and 25 international (1) – with opportunity to increase market share in Mexico City Airport • Highly productive airline with high asset utilization • 58 full time employees per aircraft with variable, performance - based compensation structure and only one union • 12.9 and 11.3 block hours per day in 2019 and 4Q20 GUATEMALA • Operated 102% of capacity during December 2020 vs SAN SALVADOR SAN JOSE previous year • Member of the Dow Jones Sustainability MILA Pacific Note: (1) As of February 2021 Alliance Index since November 2020 5 Volaris reached 40.5% domestic market share and 13.8% international market share in January 2021 Market share (On board passengers, M) Domestic International 49.5 53.5 28.2 4.4 2.7 4.4 2.7 46.9 47.9 19.8 4.6 1.9 4.6 1.9 100% 5.0 4.4 3.1 3.8 2.4 3.8 2.4 100% 0.6 1.00.0 2.00.1 1.3 3.0 1.3 3.0 6.7 7.9 11.2 8.1 8.1 13.8 13.8 18.4 20.7 20.7 7.9 20.2 24.4 26.0 26.0 9.9 5.5 9.5 9.5 10.2 11.2 11.2 75 75 9.3 10.1 8.6 8.6 8.8 11.7 20.5 19.7 19.7 19.7 11.6 10.9 10.9 16.0 18.4 18.4 Viva Volaris 31.2 31.2 17.2 13.2 13.2 15.8 Interjet 50 25.3 Others 50 11.3 12.5 12.5 United 23.3 23.3 Viva 27.7 24.3 American Interjet Aeromexico Aeroméxico Other Volaris Foreign 25 25 45.7 44.5 43.9 48.4 48.4 38.4 40.5 40.5 40.9 40.9 28.4 31.3 32.5 32.5 0 0 2018 2019 2020 Jan'20 Jan'21 Jan'20 Jan'21 2018 2019 2020 Jan'20 Jan'21 Jan'20 Jan'21 YTD YTD YTD YTD 6 Source: AFAC-SCT Strong, disruptive ultra-low-cost business model continues to see success, making air travel accessible to all ASMs 3Q 2020= 75% of 2019 capacity CASM ex-fuel 4Q 2020= Capacity 95% of 2019 capacity (USD cents) increase FY 2019= $3.98 Cost 4Q 2020= $4.13 reduction Resilient ULCC Ancillaries More Business Model (% of total revenues) ancillaries FY 2019= 33% Unrestricted cash and cash 4Q 2020= 48% equivalents (USD) FY 2019= $423M Average base fare 4Q 2020= $506M Low (USD) base FY 2019= $57 fares 4Q 2020= $45 Passengers More FY 2019= 21.9M customers 4Q 2020= 4.8M 7 As one of the lowest unit-cost operators worldwide we are uniquely positioned to continue a profitable growth strategy Cost reduction “True” low-cost business model that enables an extraordinary competitive advantage against peers CY2019 CASM | USD cents (1) CASM ex-fuel CASM 13.7 3.5 10.7 10.2 8.5 2.7 3.2 6.5 6.5 6.1 6.2 3.0 2.1 2.2 2.5 2.5 10.2 7.5 7.5 5.5 4.0 4.0 4.0 4.0 Wizz Air Air Asia Volaris Ryan Air Indigo US Latin US LCCs American Legacy Carriers Carriers Source: Company Filings Note: Non-USD data converted to USD using an average exchange rate for the period for convenience purposes only (1) Presenting average CASM and CASM ex-fuel. "US LCCs": Southwest, Allegiant, Jet Blue, Spirit; "Latin American Carriers": Avianca, Azul, Copa, Aeromexico, LATAM and Gol; 8 "US Legacy Carriers": Delta, American Airlines, Alaska Airlines and United Airlines Significant opportunity for passenger growth transitioning from bus-to-air through low fares Low base fares Cheaper and faster travel options to provide further growth Lower prices have stimulated demand historically opportunity Volaris’ booked passengers (M) Average base fare (MXN) Average