Contributing to the takeoff of aviation in Mexico 1999 · 2014 Investor information Exchange listings: Bolsa Mexicana de Valores (BMV) Mexico Ticker symbol: GAP Share series: B series New York Stock Exchange (NYSE) United States Grupo Aeroportuario del Pacífico, S.A.B. de C.V., operates 12 international airports in the Pacific Ticker symbol: PAC and Central regions of Mexico: Share series: ADS (representing 10 B shares) Guadalajara and Tijuana, serving the main metropolitan areas. Corporate Headquarters Av. Mariano Otero No. 1249-B Piso 6, Torre Pacífico, Rinconada del Bosque, Mexicali, Hermosillo, Los Mochis, Aguascalientes, Guanajuato and Morelia, serving mid-sized and Guadalajara, Jalisco C.P. 44530. developing cities. Phone: +(52) 33 3880-1100 La Paz, Los Cabos, Puerto Vallarta and Manzanillo, serving some of the country’s leading tourist Investor Relations Contact Saúl Villarreal García destinations. Chief Financial Officer [email protected] These airports, owned by the Mexican government, were assigned under concessions as part of a national +(52) 33 3880-1100 ext. 20151 initiative to privatize and improve the quality and safety of the country’s airport services in 1999. Website: www.aeropuertosgap.com.mx Table of contents GAP at a glance 02 / 15 Years in numbers 04 / Selected financial data 06 / Letter from the Chairman of the Board 08 / Interview with GAP’s Chief Executive Officer 10 / 15 Years of success 12 / Passengers: the main driver of our business 14 / Top-flight quality 17 / Focused on higher PAC profitability18 / Solid financial profile 21 / High security operations 22 / Social responsibility 25 / The challenge of constant growth 26 / Corporate structure 30 / Management team 32 / www.signi.com.mxdesign: GAP Contributing to the takeoff of aviation in Mexico The name Grupo Aeroportuario del Pacífico is synonymous with a history of reliability, innovation, diversification and constant expansion; with a solid Company with unique qualities. This has enabled us to weather all types of situations, clearing the turbulence every time, while offering our shareholders the assurance of consistent economic performance. At the same time, we have become a solid pillar of the Mexican aviation industry and of the economic development in the regions where we operate. GAP at a glance 2014 Mexicali Los Mochis Guadalajara 37% Guadalajara 35% Tijuana Aguascalientes Los Cabos 18% Tijuana 18% Guanajuato Tijuana 13% Los Cabos 13% Hermosillo Puerto Vallarta 14% Puerto Vallarta 13% Morelia Hermosillo 4% Others 21% La Paz Puerto Guanajuato 5% PASSENGERS BY AIRPORT Vallarta Others 9% Los Cabos Guadalajara REVENUES BY AIRPORT Manzanillo MXP 5.3 billion MXP 3.7 billion REVENUES (excluding IFRIC12) EBITDA Aeronautical 75% MXP 149.3 70.1% 24.7 million Non-aeronautical 25% EBITDA PER PASSENGER EBITDA MARGIN TOTAL PASSENGER TRAFFIC REVENUE DISTRIBUTION (excluding IFRIC12) 2 GUADALAJARA TIJUANA LOS CABOS PUERTO VALLARTA OTHERS Guadalajara International Airport was Tijuana International Airport was the Los Cabos International Airport was the Puerto Vallarta International Airport Include the international airports the third busiest airport in Mexico fifth busiest airport in Mexico in 2014, sixth busiest airport in Mexico in 2014, was the seventh busiest airport in of Hermosillo, Guanajuato, La Paz, in 2014, in Passenger Traffic terms. It in Passenger Traffic terms. It has one in Passenger Traffic terms. It has one Mexico in 2014, in Passenger Traffic Mexicali, Aguascalientes, Morelia, Los has two runways with a capacity of runway with a capacity of 36 air traffic runway with a capacity of 42 air traffic terms. It has one runway with a Mochis and Manzanillo. 39 air traffic movements per hour; it movements per hour and 19 gates. movements per hour and 16 gates. capacity of 37 air traffic movements per Total passengers served: has 29 gates and 40 remote boarding hour and 19 gates. Total passengers served: Total passengers served: positions. 5.4 million 4.4 million 3.3 million Total passengers served: Total passengers served: 3.1 million Revenue distribution: Revenue distribution: Revenue distribution: 8.7 million Aeronautical 78% Aeronautical 78% Aeronautical 64% Revenue distribution: Non-aeronautical 22% Revenue distribution: Non-aeronautical 22% Non-aeronautical 36% Aeronautical 73% Aeronautical 77% Non-aeronautical 27% Aeronautical and non-aeronautical Non-aeronautical 23% Aeronautical and non-aeronautical Aeronautical and non-aeronautical revenues per passenger: revenues per passenger: revenues per passenger: Aeronautical and non-aeronautical MXP 191.5 Aeronautical and non aeronautical MXP 167.2 MXP 282.5 revenues per passenger: revenues per passenger: Main airlines served: Main airlines served: Main airlines served: MXP 238.4 MXP 218.8 Aeroméxico Group, Volaris, Volaris and Aeroméxico Group Alaska Airlines, American Airlines, Main airlines served: Interjet, VivaAerobus, United Main airlines served: Total destinations served: 32 United Airlines, Interjet, Airtran, Alaska Airlines, United Airlines, Airlines, American Airlines and Volaris, Aeroméxico Group, US Airways and Volaris. Interjet and WestJet. Alaska Airlines. Interjet, United Airlines, Alaska Main destinations: Total destinations served: 34 Total destinations served: 42 Airlines, Delta Airlines, US Airways Mexico City, Guadalajara and Main destinations: and American Airlines. Culiacan. Main destinations: Main destinations: Mexico City, Guadalajara, Monterrey, Tijuana, Dallas, Los CAPEX 2015-19: MXP 1.1 billion Mexico City, Los Angeles and Mexico City, Phoenix and Los Total destinations served: 48 Phoenix. Angeles. Angeles and Calgary. Main destinations: Mexico City, CAPEX 2015-19: MXP 1.0 billion CAPEX 2015-19: MXP 0.4 billion CAPEX 2015-19: MXP 1.6 billion Tijuana and Los Angeles. CAPEX 2015-19: MXP 1.4 billion 3 15 years in numbers (1999-2014) PASSENGER TRAFFIC The total number of passengers GAP has invested more than served by GAP since 1999 is more than 24,718,695 23,565,549 MXP 10.5 billion 23,173,384 22,251,790 312.4 million 21,283,178 20,514,107 20,223,095 20,207,576 19,135,186 19,286,450 17,516,158 We are the 16,387,026 16,444,335 16,149,419 Since our initial public offering, 16,237,769 15,293,831 we have created second largest private airport operator in the Americas MXP 40.2 billion in 90 9 0 01 02 03 04 05 06 07 08 09 10 11 12 13 14 capitalization value for our shareholders The airports operated by the Company are located in 9 of the 32 states of Mexico, covering a territory of approximately We are the only private airport TOTAL OPERATIONS administrator in Mexico that 566,000 square has 4 airports kilometers certified by ICAO and with almost 30 million inhabitants 508,961 465,090 445,565 414,722 390,368 416,719 411,677 405,007 386,945 403,964 383,261 381,307 382,079 378,110 394,919 395,418 Puerto Vallarta was ranked among Our EBITDA margin the top airports than comparable is higher of the region by te ACI, achieving a companies both in Mexico and quality ratio of 4.22, out of 5. (in 2013) internationally 90 9 0 01 02 03 04 05 06 07 08 09 10 11 12 13 14 Private Commercial 4 TOTAL REVENUES CAPEX NET INCOME (MXP thousand) (MXP thousand) (MXP thousand) (excluding IFRIC12) 2,246,229 2,242,520 1,287,071 5,264,277 1,772,029 4,787,108 4,374,434 1,540,842 3,902,506 935,513 1,500,160 983,785 931,617 1,484,441 1,402,820 3,716,566 3,477,324 3,490,784 806,014 3,046,192 3,266,240 1,199,444 2,797,642 664,912 680,950 2,443,523 634,211 633,039 928,024 638,167 2,142,016 1,941,605 1,988,339 1,913,144 1,920,263 541,486 542,177 562,505 349,568 711,268 520,905 266,701 454,876 464,646 432,093 347,278 62,433 254,249 90 9 0 01 02 03 04 05 06 07 08 09 10 11 12 13 14 90 9 0 01 02 03 04 05 06 07 08 09 10 11 12 13 14 90 9 0 01 02 03 04 05 06 07 08 09 10 11 12 13 14 Non-aeronautical Aeronautical STOCK PERFORMANCE EBITDA STOCK MARKET (GAP MXP / PAC USD) (MXP thousand) CAPITALIZATION (MXP thousand) STOCK PRICE GROWTH 2006-2014: 4x 3,690,309 GAP MXP PAC USD 3,256,411 100.27 67.26 52,015,920 Closing price as of April 8, 2015 41,272,770 2,939,398 39,157,800 2,596,980 2,441,256 2,337,388 2,238,753 2,134,408 2,022,589 28,246,350 1,856,573 27,404,850 26,507,250 1,560,159 23,152,470 1,337,332 22,821,480 1,235,183 1,153,195 1,105,149 17,649,060 915,435 Jan 1, 2007 Jan 1, 2009 Jan 1, 2011 Jan 1, 2013 Jan 1, 2015 90 9 0 01 02 03 04 05 06 07 08 09 10 11 12 13 14 67 0 0 08 09 10 11 12 13 14 5 Selected financial data International Financial Repoting Standards (MXP thousand) 2013 2014 Change Revenues Aeronautical services 3,616,616 3,925,736 8.5% Non aeronautical services 1,170,492 1,338,542 14.4% Improvements to concession assets (IFRIC 12) 440,728 281,874 (36.0%) Total revenues 5,227,836 5,546,152 6.1% Operating costs Costs of services: 1,128,951 1,161,588 2.9% Employee costs 390,606 393,537 0.8% Maintenance 200,224 223,687 11.7% Safety, security & insurance 173,748 192,932 11.0% Utilities 141,855 147,793 4.2% Other operating expenses 222,518 203,639 (8.5%) Technical assistance fees 171,470 194,228 13.3% Concession taxes 237,728 261,577 10.0% Depreciation and amortization 883,235 925,220 4.8% Other expense (7,453) (43,424) 482.7% Cost of improvements to concession assets (IFRIC 12) 440,728 281,874 (36.0%) Total operating costs 2,854,659 2,781,063 (2.6%) Operating income 2,373,177 2,765,089 16.5% Finance (cost) (51,159) (7,990) (84.4%) Earnings before income taxes 2,322,018 2,757,099 18.7% Income taxes (75,788) (514,579) 579.0% Net income and comprehensive income 2,246,230 2,242,520 (0.2%) EBITDA 3,256,410