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Riviera Maya Airport

Project Teaser

April 2010

This presentation has been prepared by Secretaria de Comunicaciones y Transportes (“SCT”) and the Banco Nacional de Obras y Servicios Publicos, S.N.C (“Banobras”) solely for informational
purposes and for the exclusive use of the party to whom Banobras and SCT delivers this presentation (together with its subsidiaries and affiliates, the “Potential Investor”). This presentation
contains selected information regarding a potential investment opportunity (the “Transaction”) in respect of the public tender offer for granding the concession to build, operate and transfer an
international airport in the Riviera Maya region (the “Project”). Banobras has hired UBS Securities LLC ("UBS") as its exclusive financial advisor in connection with the analysis and evaluation of the
Transaction. The sole purpose of this presentation is to assist recipients in deciding whether they wish to proceed with an investigation of a possible Transaction. This presentation is not intended
to form the basis of any investment decision or any decision to purchase any equity interests (or other interests), directly or indirectly, in the Projects. This presentation, and the information
contemplated herein, does not constitute an offer to sell or a solicitation of an offer to purchase any securities in any jurisdiction.

SCT, Banobras and its advisor, UBS, do not make any representation or warranty, either express or implied, as to the accuracy, completeness, reasonableness or reliability of the information
contained in this presentation. SCT and Banobras expressly disclaims any and all liability for any direct or consequential losses relating or resulting from the use of this presentation.

No person has been authorized to give any information or to make any representation concerning SCT and Banobras and its interests in the Projects described herein other than the information
contained in this presentation, and if made or given, such information or representation must not be relied upon as having been authorized by SCT and Banobras. Under no circumstances is this
presentation to be construed as a prospectus, offering memorandum or advertisement. No representation is made regarding the legality of a participation by a Potential Investor in a potential
Transaction under applicable securities laws or other laws. The Potential Investor should not construe the contents of this presentation as legal, tax, accounting or investment advice or a
recommendation of any kind. The Potential Investor should consult its own counsel, tax and financial advisors as to legal and related matters concerning any transaction described herein. This
presentation does not purport to be all-inclusive or to contain all of the information that the Potential Investor may require. No investment, divestment or other financial decisions or actions should
be based on the information in this presentation.

This presentation and the information contained herein is highly confidential and has been prepared solely for the informational use of the Potential Investor. Distribution of this presentation to
any person other than the Potential Investor and those persons retained to advise the Potential Investor, who agree to maintain the confidentiality of this material and be bound by the limitations
outlined herein, is unauthorized. This material must not be copied, reproduced, distributed or passed to others at any time without the prior written consent of SCT and Banobras. By accepting
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This presentation includes certain observations, assumptions, statements, estimates and projections as to future events and thus involves significant elements of subjective judgment and analysis.
Such statements, estimates and projections reflect certain assumptions and anticipated results; such assumptions and results may or may not prove to be correct. Actual results may differ from
such statements, estimates and projections and such differences may be material. Such estimates and projections are inherently subject to a variety of risks and uncertainties that could cause
actual results to differ materially from those projected. Such risks and uncertainties include general economic and business conditions, competition, changes in political, social and economic
conditions, and possible changes in the regulatory structure, customer preferences and various other matters, many of which are beyond the control of SCT and Banobras, as applicable. Such
forward-looking statements are necessarily dependent on assumptions, data or methods that may be incorrect or imprecise and that may be incapable of being realized. There can be no
assurances that actual events will not differ materially from those assumed or projected. In the event any of the assumptions used in this presentation do not prove to be true, results are likely to
vary substantially from those discussed herein and such variations may be material. SCT and Banobras does not undertake to update or revise any of the observations, assumptions, projections or
forward-looking statements contained herein or any other information contained herein, even if it becomes clear that they will not be realized or are otherwise inaccurate. The delivery of this
presentation shall not under any circumstances imply that there has been no change in the affairs of SCT and Banobras or that the information set forth herein is correct at any date subsequent to
the date of this presentation or the date at which the information was provided. The information contemplated in this presentation is in summary form and thus does not contain all relevant and
material information relating to the matters contemplated herein.

Please do not contact Banobras and/or SCT directly. For any questions on the materials presented,
please contact:

Latin American IBD Infrastructure IBD Americas

Jorge Silberstein Thomas Osborne
Managing Director Managing Director
Tel: +(52) 55 5282-7736 Tel: +1 (212) 821-2343

Alejandro Ortega Bruce Crane

Managing Director Executive Director
Tel: +(52) 55 5282-7755 Tel: +1 (212) 821-5189
The Project
Project Introduction
 Air traffic activity has increased in the Riviera Maya region due to
the development of tourism
 At the moment, Cancun International Airport is the only airport
serving the Riviera Maya region
 The future Riviera Maya Airport will provide the infrastructure
required for continued touristic development in the Riviera Maya
– it is expected that passenger traffic at the future Riviera
Maya Airport could reach up to 3 million passengers by year
– international experience shows that airport proximity is key
to securing passengers at tourist destinations even when
there are other airports relatively close by
2008 Terminal
# Airport/City Passengers (mm)
1 Mexico City 26.1
2 Cancún 12.6
3 Guadalajara 7.2
4 Monterrey 6.6
5 Tijuana 4.0
6 Toluca 3.9
7 Puerto Vallarta 3.3
8 Los Cabos 3.0
9 Hermosillo 1.3
10 Mérida 1.3
Source: 2008 Annual Reports, SCT
Federal Highway1 International Airport Maritime Terminal
1 Tulum – Coba federal highway under construction and expected to be operative by 2011

Airport Features Land

 Total area is 1,480 hectares. 802 hectares are necessary to build a
General  Able to accommodate aircraft needed for
runway and terminal
Features long haul intercontinental flights
 Initial capacity to serve 3 million passengers  The Riviera Maya Airport project contemplates a 6.5 km access
 Runway—3,500m x 45m, concrete road which will be part of the Tulum-Coba highway
pavement, with turning loops at each end  88% of the land is already owned by the Secretaria de
 Two taxiway connections (180m x 23m), one Comunicaciones y Transportes (“SCT”)
at each end of the apron (90 degrees to
longitudinal axis)  The remaining 12% of the land is still in the process of being
adjudicated to the SCT
Regulation  Current airport regulation
(Mexican Airport Law and other applicable
laws and regulations )
 Annexes 9, 14 Vol. I and 17 from the
International Civil Aviation 1,480 hectares
Organization (“ICAO”)
 Regulation requirements for the
construction, modification and operation of
aerodroms (CO DA-04/07)
 Doc. 305-AN/177, ICAO
 Airport Development Reference
Manual, IATA

Landing Strip
Master Plan Land
Necessary Land to 2
Operate the Airport
Tourism in Mexico and the Riviera Maya Region
2009E World Travel & Tourism Demand Growth and Composition of Tourism in Mexico
 Mexico is a major tourism destination worldwide
 Mexico is the tenth largest recipient of tourism income worldwide and the 153.7 153.3 153.5 95.9
largest in Latin America 100
 The Mexican tourism industry has grown steadily in recent years and it
represents an important revenue source for the Mexican economy

(million tourists, %)
63.6 60.1 59.6 59.4
 In 2009, there was a slowdown in the sector due to the global economic
crisis and the H1N1 pandemic
Tourist Income 2009E ($bn)
1 US 1,640.3
2 Japan 556.1 Mexico 39.9 40.4 40.6
3 China 526.6 36.4
4 Germany 438.4
5 France 378.1 0
6 Spain 320.0 2006 2007 2008 2009 ¹
7 UK 307.2
8 Italy 281.0 International Domestic
9 Canada 176.8
10 Mexico 158.2 Source: Sectur, Tercer Informe de Gobierno Federa|
Rest of the World Notes:
97.6% 1 As of June 2009, Tercer Informe de Gobierno Federal
Source: World Travel & Tourism Council

Arrivals of Domestic and International Flights 2008 Air Arrivals of International Tourists
 In 2008, 43 million passengers arrived at Mexican airports, 33% of which
were international passengers By Destination By Origin
 Nearly 60% of international tourists arriving in Mexico visit a
beach destination Cabo San Lucas Other ¹ France Others
5.6% 11.8% Cancun Spain 0.9% 14.0% US
 Approximately 37% of international passengers arriving by air in Mexico 36.6% 1.3% 79.2%
Nuevo Vallarta
visit Cancun/Riviera Maya UK
 Over the next few years, passenger traffic in the Cancun/Riviera Maya Puerto Vallarta
region is expected continue to increasing 7.5%
547 631 595 337 Mexico City
(000s Flights, %)

100 32.5%
24.4 22.3 23.0 24.2
Source: World Travel & Tourism Council
75.6 77.7 77.0 75.8 Note:
25 1 Composed of Ensenada, Monterrey y Mazatlán, and others
2006 2007 2008 2009
Domestic Flights International Flights
Source: Sectur
1 As of June 2009, includes regular flights and charters

Private Investment in Tourism in Riviera Maya Hotel Room Availability in Riviera Maya
 In 2008, Mexico received US$4.6bn of private investment in the tourism sector  Hotel occupancy in Riviera Maya on average has been higher compared to
– the state of Quintana Roo received 34% of such private investment other major beach destinations in Mexico—78% occupancy versus 62%
 As of December 2008, private investment in tourism grew nearly 54% year over
year in Quintana Roo 40 90
– within the state, Riviera Maya received the most investment with 29%
Occupancy Rate (%)
Rooms (000s)

Origin of Investment (MX$mm) (%)
Mexico 344 21.8 20
35 35
31 60
US 417 26.5 10 21 23 24

Spain 675 42.8

0 40
2001 2002 2003 2004 2005 2006 2007 2008
Singapore 140 8.9 Rooms Occupancy Rate in Riviera Maya
Occupancy Rate in Mexico Beaches

Source: Sectur

Bidding Process Highlights
Tender Offer Highlights
Objective  Conduct an International public tender offer for the concession to build, operate, manage and
exploit the Riviera Maya airport
Concession Grantor  Secretaría de Comunicaciones y Transportes
Concession Period  Concession period will be for 50 years (including construction)
Bidder Obligations  Demonstrate legal, technical and management capabilities, and ability to structure and finance the
 Payment of project costs incurred, including but not limited to acquisition of land, technical studies,
and government advisor fees
 Acquire necessary permits, licenses and authorizations for the airport and related construction
 Comply with all project investment requirements, the airport development master plan and other
obligations stated in the concession including the construction of an access road
 Furthermore, if the winner fails to build the airport or initiate operation within certain period of
time, it will lose the upfront payment equivalent to the acquisition of land, fees paid to the
government, and others
Preferred Bidding  Taking in consideration the views of the different government agencies and advisors, in principle
Criteria the preferred bidding criteria is to award the project to the party bidding the lowest aeronautical
charges, subject to its fulfillment of all technical requirements
Operating Partner  The Operating Partner (a recognized airport operator) does not need to have stake in the bidding
consortium, its role could be limited to exclusively to the operation and administration of the airport
through an operating agreement

Preliminary Timeline1
2009 2010
Activities 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15
Completion of
preparatory studies
and meteorological)
Completion of technical
studies for the
bidding process
Tender rules review

Publication of tender rules

Registration of interested
Bidding stage (Site visits,
information meetings, etc.)
Qualification Approvals
Bid Award

Completed Activity Critical Activity Activity to Complete

1 Calendar subject to timeline change

Contact Information

UBS Securities LLC

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New York NY 10171
Tel. +1-212-821 3000

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