Grupo Aeroportuario del Sureste, S. A. B. de C. V.

Thank you, gentlemen, and welcome to our second quarter 2026 results conference call. My name is Christine, and I will be your operator. At this time, all participants are in a listen-only mode. We will conduct a question-and-answer session toward the end of today's conference. If you would like to ask a question, please press star 1. If you want to withdraw your question at any time, please press star 2. If you are using a speakerphone, please lift the handset before making a selection. As a reminder, today's call is being recorded. Now, Mr. David Barlow, Corporate Governance Strategic Planning Manager in IRO at Natura. Please go ahead, sir.

Thank you, Christine, and thank you, everyone, for joining us today to discuss social results for the second quarter of 2026. With me on today's call is Adolfo Castro, Chief Executive Officer. Additional details about our results can be found in our first release, which was issued yesterday after market close, and is available on our website. As usual, all comparisons discussed on this call will be year-on-year, and our figures are expressed in Mexican pesos, unless specified otherwise. As a reminder, hearing statements made during the call today may constitute forward-looking statements, which are based on current management expectations and beliefs. and are subject to several risks and uncertainties that could cause actual results to differ materially, including factors that may be beyond our company's control. Please refer to the forward-looking statements disclosure included in this training presentation for additional information. With that, I'll turn this call to Adolfo. Please go ahead, Adolfo.

Thank you, David, and good morning, everyone. I'm going to start today's call that are setting the foundation of ASUS' next stage of development and growth. Then, I will briefly review quality resources. Our objective is to continue building the leading airport group in the Americas. We are doing this by expanding into attractive markets, diversifying our geographic and revenue mix, diminishing the dependence The Motiva Transaction, as with U.S. Airports, the Deadman Program at Elkhorn Airport, and the proposed internalization of the Deadman Assistance Services are key components to achieving our goals. Let me begin with the proposal that we proposed to the shareholders meeting that is going to take place on August the 20th. First, we are asking shareholders to consider approving ASUR's plan to internalize the Special Technical Assistance and Technology Transfer Services currently provided by our strategic partner, EECA. We believe this is an important step in ASUR's evolution. We hope bringing these capabilities Simplify our corporate structure and better align our operational model with the scale and complexity of our growing international platform. The transaction would be implemented through a merger and would involve the issuance of approximately 7.3 million net new absolute shares to ETA shareholders, equivalent to approximately 2.4% of the current shares outstanding. For reference, Azure recognized approximately $401 million in technical assistance fees during 2025. If transactions are approved, these services will be performed by Azure. While we will assume the related operating costs, the recurrent external fee will be eliminated, and the future current benefits of these activities will remain within the company. The proposal was reviewed and initiated under the leadership of the Audit and Corporate Practices Committee, which is composed exclusively of independent directors and supported by independent financial and legal advisors. Typically, the Board has proposed two extraordinary cash dividends to be paid, 10,000 per share, on November 24 and December 15, respectively. The proposal reflects a series of strong financial positions, strong cash generation, and disciplined approach to capital allocation. In the first half of the year, we generated 7.3 billion in operating cash flow, an increase of 21% year-on-year. With this cash generating, the capacity allows to return excess capital to shareholders. and Fernando Góngora López. We encourage shareholders to review the permission statements for additional details. Turning to Motiva, we are actively progressing to complete the acquisition during the second half of 2026. The transactions remain subject to remaining regulatory approvals and customary closing conditions. Once completed, the transactions will add including entry into VERSI, the largest aviation market in Latin America. Their corporate portfolio handles approximately 45 million passengers annually and will significantly increase the source of scale and geographic diversification. Our under-leveled balance sheet enables to fund these transactions with depth, while at the same time preserving financial flexibility, and other advertising projects including digital payments. Moving next to the Azure U.S. Azure U.S. provides directly exposure to the non-regulated dollar-terminated commercial revenues at the pre-nature of U.S. servers, with over 35 million annual customers and revenues above U.S. benchmarks. Azure U.S. also is a platform From which we will continue further developing our commercial capabilities in the U.S. On April 21, Castro U.S. completed the $125 million commercial transformation of GFK Terminal 8, opening more than 60 dining, retail, beauty and experiential concerts. At GFK Terminal 8, Not yet represent the earning potential of the U.S. platform. A10X will continue remodeling and developing commercial spaces ahead of the Super Bowl in 2007 and the Olympics and Paralympic Games in 2008. In Mexico, construction of the new Terminal 1 continues at Cancún, which we plan to reopen near the port water. One separation of Terminal 1 will allow it to begin rebalancing passenger flows, including moving most of South American operations from Terminal 2. This should reduce pressure on Terminal 2 and improve the passenger experience and create additional information capacity. In Parliament, we continue securing the broad mass development program. This includes a second phase of Terminal 4 expansion, which will add forwarding new gateways and a connecting taxiway, together with the related airside and roadway infrastructure. The project is expected to be fully operational by the end of 2018 and is designed to span capacity, include passenger and air traffic loads, as well as longer-term growth. Together, this initiative supports the same objective, a larger and more geographic Turning to passenger traffic, total traffic declined 2.7% during the year, to approximately 17 million passengers. Reflecting self-technical performance in Mexico and Puerto Rico, partially offset by continued product pollution. In Mexico, traffic declined 5%, primarily reflecting continued pressure at Enco, where international traffic remained softer, particularly from the United States. Our largest international source market. Airline capacity constraints, spirit bankruptcy, and higher airfares marginally reflect the elevated jet fuel prices also affected the map. In addition, the world top did not generate incremental tourism flow into Mexico City. Most of our other Mexican airports performed better and partially upset the decline of the Passenger volumes to and from the United States, Europe, South America, and Mexico decreased by 11.7, 11.8, 6.5, 1.9, respectively, while Canada increased 10.5. Puerto Rico traffic declined 3.5%, reflecting the effects of the spirit of bankruptcy, together with suffered domestic and international demand. While international remain compare new more resilient. It would then come for other airlines to absorb the spirit passengers lost since May the 7th. Colombian traffic increased 3.6%, supported by a healthy demand and improved connectivity. Road, further raided against a strong comparison base, it continued to up the rest of our protocol. While the airtime conditions in Mexico and Puerto Rico remain challenging, we continue to feel much of the current pressure as capacity and affordability related rather than a change in the long-term fundamentals of the travel demand. We believe that our ability to travel improves as the aircraft returns to service, although the timing remains uncertain. Pending to demonstrate performance, as usual, the figures I will disclose include construction revenue and construction costs, although on less of a wise note. Revenues were broadly tabled at 7.4 million pesos. Non-electrical revenues increased nearly By contrast, aeronautical weather is contracted by mid-single-digit magnetic effects with the subject traffic in Mexico and Puerto Rico, and the translation effect of the stronger Mexico-Peso A single-digit decline to 145.7 pet passengers in Mexico was observed by a low and high single-digit increase in Puerto Rico, Colombia, respectively. Again, certain performance in Mexico and Puerto Rico resulted from lower traffic and effects kept winds given the strength of Mexican vessels. The expansion of our international food At the same time, as previously mentioned, we completed the commercial transformation of GX Key Terminal 8 in the quarter. Moving on to profitability, Consul Data's UDA decreased nearly 9% to 4.6 billion. By region, UDA declined 9% in the quarter. as GFK 1098 continues to ramp up, and GFK new terminal 1 is expected to open during the first quarter of the year, while commercial spaces at NIDX and Chicago are being expanded and updated. Adjustability and margin-reply impact was around 60 basis points year-over-year, to 62%, due to lower revenues in Mexico. The lower margin net material income, which is 7%, is 2.3 billion, as lower foreign exchange loss in Mexico. Lower income tax expenses in Mexico and Colombia was upset by the benefit from the amortization of the third value adjustment related to the Colombian acquisition loan following its repayment. Turning into the balance sheet, we ended the quarter with cash and cash Nearly 12 billion and net debt of net debt to FDA of 0.9 times last 12 months in VA. Our balance sheet remains strong and provides flexibility to execute and fund our committed capital program. Complete the MOTIVA transaction and continue pursuing our program strategic priorities. Lastly, during the quarter we stepped of Capital Expenditures to 2.0 billion pesos with the majority of these funded in Mexico as we advance in our capital program, including the projects at Camponi that I already discussed, coming up while the trading environment remains challenging, particularly in Mexico, as well as moving in the right direction As we are making progress executing our strategic growth initiatives, better equity structure and diversification, and with our expansion through the MOTIV acquisition, our U.S. commercial operations, and the ongoing growth efficiency efforts, are strengthening our business and positioning the company for growth at the same time, Thank you. We will now begin the question and answer session. To ask a question, dial in by phone and press star 1 on your telephone keypad. Make sure your mute function is turned off.