GlobeNewswire Inc | Feb 26, 2021 07:24PM EST

February 27, 2021

GUADALAJARA, Mexico, Feb. 26, 2021 (GLOBE NEWSWIRE) -- Grupo Aeroportuario del Pacfico, S.A.B. de C.V., (NYSE: PAC; BMV: GAP) (the Company or GAP)announced that, in accordance with the approvals set by the Board of Directors, the Company will present for consideration at the Shareholders Meeting a shareholder distribution, which will be made through a capital reduction for up to Ps. 2 billion, payable in the next 12 months.

The Company also will propose a new maximum amount for the repurchase of shares for up to Ps. 3 billion for 2021, as well as the cancelation of 35,424,453 shares (6.3% of authorized shares), that are currently held in treasury as a result of repurchases in prior periods.

Company DescriptionGrupo 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 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 and Financial asoto@aeropuertosgap.com.mxPlanning ManagerGisela Murillo, Investor Relations gmurillo@aeropuertosgap.com.mx / +523338801100 ext. 20294Maria Barona, i-advize Corporate mbarona@i-advize.comCommunications