Grupo Aeroportuario del Pacífico (GAPB) Corporate Presentation summary

Company overview and operational highlights

• Operates a diversified network of airports in Mexico and Jamaica, serving 63.5 million passengers in 2023, an 11.9% increase from 2022.

• Main airports include Guadalajara, Tijuana, Los Cabos, Puerto Vallarta, and Montego Bay, with Guadalajara leading in passenger volume.

• Passenger profile is balanced: 40% visiting friends/relatives, 38% leisure, 22% business.

• Market share in Mexico reached 31.1% in 2023, operating 5 of the top 10 busiest airports.

• Shareholder structure: 85% public float, 15% strategic partner, with a board majority of independent members.

Growth drivers and market trends

• Seat capacity by Mexican airlines expected to grow 60% by 2027, supporting future passenger growth.

• Nearshoring trends and increased hotel capacity in tourist destinations drive demand, especially in Tijuana, Guadalajara, Guanajuato, and Aguascalientes.

• U.S. imports from Mexico have grown, reinforcing the nearshoring opportunity for airport traffic.

• Leisure markets in Los Cabos, Puerto Vallarta, and Montego Bay benefit from major hotel and resort expansions.

• Mexico and Jamaica are top destinations for U.S. tourists, with key airports among the most popular international travel spots.

Financial performance and guidance

• 2023 revenues reached MXP 25.4 billion (+12.9%), EBITDA MXP 17.7 billion (+9.7%), and net income MXP 9.7 billion (+5.5%).

• EBITDA margin remained strong at 69.5% in 2023.

• Aeronautical revenues made up 73.6% of total in 6M24, with non-aeronautical revenues growing 18.6% YoY.

• 2024 guidance anticipates a 3-5% decrease in passenger traffic and revenues, but 20-22% growth in non-aeronautical revenues.

• Debt is well diversified, with a stable credit outlook and net debt/EBITDA at 1.3x as of 6M24.