GlobeNewswire Inc | Nov 27, 2020 05:55PM EST

November 27, 2020

GUADALAJARA, Mexico, Nov. 27, 2020 (GLOBE NEWSWIRE) -- Grupo Aeroportuario del Pacfico, S.A.B. de C.V. (NYSE: PAC; BMV: GAP) (the Company or GAP) announced that it has concluded the Extraordinary Review Process for the Master Development Program for the Mexican airports for the 2020 to 2024 period.

During the month of August, the Company filed a proposal for the adjustment of the Master Development Program (MDP) to the Aeronautical Authority, thus postponing investments by approximately 20 months. As such, certain investments that were scheduled to conclude in 2024 will now conclude in 2026.

In the new MDP, the same projects that were previouslyagreed uponwith the authorities will remain, however, the initiation and termination timeframes will change; the scope of the projects will essentially remain the same.

The mandatory investment amounts of the Master Development Program that resulted from the Extraordinary Review were the following:

Airport 2020 2021 2022 2023 2024 TOTALGuadalajara 1,095,712 1,148,523 1,843,155 1,063,267 1,180,132 6,330,791Tijuana 796,943 1,465,857 438,001 161,784 118,382 2,980,967Los Cabos 395,869 496,216 272,952 236,278 177,928 1,579,243Puerto Vallarta 205,956 450,956 660,397 901,625 807,678 3,026,612Guanajuato 57,390 88,614 33,273 69,521 53,081 301,879Hermosillo 57,959 93,970 53,066 29,849 56,805 291,649La Paz 115,819 92,343 40,968 24,129 20,773 294,032Mexicali 32,385 47,818 46,077 57,672 23,755 207,708Aguascalientes 78,883 98,106 53,676 26,339 23,040 280,044Morelia 32,716 51,576 35,098 50,682 19,510 189,582Los Mochis 40,426 40,980 11,069 53,338 31,097 176,911Manzanillo 26,439 48,629 30,176 21,757 15,670 142,671TOTAL 2,936,500 4,123,588 3,517,909 2,696,240 2,527,851 15,802,088Figures are expressed in thousands of Mexican pesos with acquisition power asof December 31, 2017; as such these will be updated based on the NationalProducer Price Index (NPPI), construction sector, upon execution.



As a result of the change in committed investments, as well as the remaining assumptions included in the Extraordinary Review, the new Maximum Tariffs that are applicable per workload unit are the following:

Airport 2021 2022 2023 2024Guadalajara 216.86 215.34 213.83 212.33Tijuana 165.57 164.41 163.26 162.12Los Cabos 304.93 302.80 300.68 298.58Puerto Vallarta 303.71 301.58 299.47 297.37Guanajuato 226.89 225.30 223.72 222.15Hermosillo 169.49 168.30 167.12 165.95La Paz 186.65 185.34 184.04 182.75Mexicali 162.06 160.93 159.80 158.68Aguascalientes 175.50 174.27 173.05 171.84Morelia 265.85 263.99 262.14 260.31Los Mochis 192.76 191.41 190.07 188.74Manzanillo 232.02 230.40 228.79 227.19These passenger charges have been adjusted at an annual efficiency rate of0.7% and are expressed in Mexican pesos as of December 31, 2017, as such,they will be updated per the National Producer Price Index (NPPI), excludingpetroleum.



Company Description:

Grupo Aeroportuario del Pacfico, S.A.B. de C.V. (GAP) operates 12 airports throughout Mexicos Pacific region, including the major cities of Guadalajara and Tijuana, the four tourist destinations of Puerto Vallarta, Los Cabos, La Paz and Manzanillo, and six other mid-sized cities: Hermosillo, Guanajuato, Morelia, Aguascalientes, Mexicali and Los Mochis. In February 2006, GAPs shares were listed on the New York Stock Exchange under the ticker symbol PAC and on the Mexican Stock Exchange under the ticker symbol GAP. In April 2015, GAP acquired 100% of Desarrollo de Concesiones Aeroportuarias, S.L., which owns a majority stake in MBJ Airports Limited, a company operating Sangster International Airport in Montego Bay, Jamaica. In October 2018, GAP entered into a concession agreement for the operation of the Norman Manley International Airport in Kingston, Jamaica. In October 2018, GAP entered into a concession agreement for the operation of the Norman Manley International Airport in Kingston, Jamaica and took control of the operation in October 2019.

This press release may contain forward-looking statements. These statements arestatements that are not historical facts, and are based on management?s currentview and estimates of future economic circumstances, industry conditions,company performance and financial results. The words ?anticipates?, ?believes?,?estimates?, ?expects?, ?plans? and similar expressions, as they relate to thecompany, are intended to identify forward-looking statements. Statementsregarding the declaration or payment of dividends, the implementation ofprincipal operating and financing strategies and capital expenditure plans, thedirection of future operations and the factors or trends affecting financialcondition, liquidity or results of operations are examples of forward-lookingstatements. Such statements reflect the current views of management and aresubject to a number of risks and uncertainties. There is no guarantee that theexpected events, trends or results will actually occur. The statements arebased on many assumptions and factors, including general economic and marketconditions, industry conditions, and operating factors. Any changes in suchassumptions or factors could cause actual results to differ materially fromcurrent expectations.

In accordance with Section 806 of the Sarbanes-Oxley Act of 2002 and article 42 of the Ley del Mercado de Valores, GAP has implemented a whistleblower program, which allows complainants to anonymously and confidentially report suspected activities that June involve criminal conduct or violations. The telephone number in Mexico, facilitated by a third party that is in charge of collecting these complaints, is 01 800 563 00 47. The web site is www.lineadedenuncia.com/gap. GAPs Audit Committee will be notified of all complaints for immediate investigation.

IR Contacts: Sal Villarreal, Chief Financial svillarreal@aeropuertosgap.com.mxOfficerAlejandra Soto, IR, Finance and asoto@aeropuertosgap.com.mxFinancial Planning ManagerGisela Murillo, Investor Relations gmurillo@aeropuertosgap.com.mx / +52-33-3880-1100 ext.20294Maria Barona, i-advize Corporate mbarona@i-advize.comCommunications