Grupo Aeroportuario del Pacífico, S.A.B. de C.V. Q4 FY2025 earnings call

• Passenger traffic: Decreased 0.9% in Q4 2025; Mexico traffic stable with 2.9% passenger growth, Jamaica impacted by Hurricane Melissa. • Revenues: Combined aeronautical and aeronautical service revenues up 12.8%, aeronautical revenues up 12.6%, new aeronautical revenues up 13.3% Q - over - Q. • EBITDA: Up 7.5% in Q4 2025, up 17.8% full - year 2025. • Full - year 2025 highlights: Aeronautical and non - aeronautical revenue growth, EBITDA growth. • International expansion: Parks & Cope standard process canceled, focus on projects meeting strategic and financial return criteria. • Jalisco events: Guadalajara and Puerto Vallarta airports fully operational, flight cancellations decreased from previous years. • CBX business combination: Approved at Extraordinary Shareholders Meeting, in formalization process, expected to enhance operational efficiency. • 4 growth pillars: Strengthening connectivity, expanding commercial revenues, disciplined execution of infrastructure program, maintaining long - term leverage strategy.

Passenger traffic decreased 0.9% in Q4 2025 compared to Q4 2024. Mexico traffic trends were relatively stable with 2.9% passenger growth supported by new max tariff and market expansion; Jamaica was impacted by Hurricane Melissa leading to 35% traffic decrease. Combined aeronautical and aeronautical service revenues increased 12.8%. Aeronautical revenues grew 12.6% due to new max tariff in Mexico and route expansion; new aeronautical revenues up 13.3% Q - over - Q with commercial revenues strong in Mexico. EBITDA increased 7.5% to MXN 5.1 billion, EBITDA margin (excluding IFRIC 12) 53.8% in Q4 2025. Full - year 2025: Aeronautical revenue grew 19.4% driven by new tariff and 2.7% passenger traffic growth in Mexico; non - aeronautical revenue up 26.5%, EBITDA up 17.8% to MXN 21.3 billion with EBITDA margin (excluding IFRIC 12) 65.6%.

• 2026 expected moderate growth. • Passenger traffic expected to grow 2% - 5%. • Aeronautical revenues projected to increase 9% - 12%. • Non - aeronautical revenues expected to expand 6% - 9%. • Total revenues expected to grow 8% - 11% year - over - year. • EBITDA expected to grow 8% - 11%, EBITDA margins remain solid around 65% ± 1%.

• External factors like exchange rate volatility, natural events (e.g., Hurricane Melissa) and global uncertainty may impact expectations. • Incidents in Jalisco like flight cancellations in February 2024 initially, but improving.

Q: Give color on Guadalajara and Puerto Vallarta cancellations and lower bookings, and expansion on U.S. besides CBX.

A: In Guadalajara and Puerto Vallarta, Sunday had many cancellations, but Monday saw recovery; no further impact expected. On U.S. expansion besides CBX, focus on capital allocation for accretive projects.

Q: Regarding pending tariff adjustments, timing and visibility.

A: Last year had multiple tariff increases, expecting 95% fulfillment on time, with 2 additional increases in summer for Vallarta and Cabos.

Q: Break down traffic increase expectations for Mexico and Jamaica, recovery from Hurricane Melissa in Jamaica and World Cup impacts in Mexico.

A: Mexico traffic expected to grow with route consolidations, etc.; Jamaica traffic recovery with hotel capacity return, spring season may have impact but winter season expected to be fully recovered.

Q: Comment on capital allocation now Turks and Caicos process over, priority.

A: First half of 2024 focused on CBX integration and bringing efficiencies, looking for accretive projects.

Q: Expected timeline for CBX deal integration and expected synergies.

A: Expect formalization process to be completed in second quarter, synergies gradually implemented, full synergies program expected by mid - 2027.