Earnings release
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ASUR 2Q25 Page 1 of 25 3Q25 Earnings Call Day: Thursday, October 23, 2025, at 10:00 AM ET; 8:00 AM Mexico City time Dial-in: +1 877 407 4018 (U.S. Toll-Free); +1 201 689 8471 (International) Access Code : 13756571. Please dial in 10 minutes before the scheduled start time. Replay: Thursday, October 23, 2025, at 2:00 PM ET, ending at 11:59 PM ET on Thursday , October 30, 2025. Dial-in: +1 844 512 2921 (U.S. Toll- Free); +1 412 317 6671 (International). Access Code: 13756571 ASUR ANNOUNCES 3Q25 RESULTS Passenger traffic increased by 3.1% in Colombia and 1.1% in Puerto Rico; and decreased by 1.1% in Mexico Mexico City, October 22, 2025 - Grupo Aeroportuario del Sureste, S.A.B. de C.V. (NYSE: ASR; BMV: ASUR) (ASUR), a leading international airport group with operations in Mexico, the United States, and Colombia, today announced its results for the three- and nine-month periods ended September 30, 2025. 3Q25 Highlights1 • Total passenger traffic increased 0.4% YoY ("YoY"). By country of operations, passenger traffic showed the following YoY variations: o Mexico: decreased 1.1%, driven by declines of 0.3% and 1.8% in international traffic and domestic traffic, respectively. o Puerto Rico (Aerostar): increased 1.1%, reflecting increases of 11.7% and 0.5% in international and domestic traffic, respectively. o Colombia (Airplan): increased 3.1%, reflecting growth of 11.2% and 0.8% in international and domestic traffic, respectively • Revenues increased 17.1% YoY to Ps.8,765.4 million. Excluding construction services, revenues increased 1.0% YoY. • Commercial revenue per passenger increased 1.0% YoY to Ps.126.1. • Consolidated EBITDA declined 1.3% YoY to Ps.4,639.4 million. • Adjusted EBITDA margin (excluding IFRIC 12 effect) decreased to 66.7% from 68.3% in 3Q24. • Cash position of Ps.16,259.3 million at September 30, 2025, with Debt to LTM Adjusted EBITDA at 0.2x. • On July 30, 2025 ASUR announced an agreement to acquire Unibail-Rodamco-Westfield (URW)’s airport retail concessions at key terminals at John F. Kennedy International Airport, Los Angeles International Airport and Chicago O'Hare International Airport for US$295 million, marking its strategic entry into U.S. commercial airport operations; closing expected 4Q25 subject to customary conditions precedent. 1 Unless otherwise stated, all financial figures are unaudited and prepared in accordance with International Financial Reporting Standards (IFRS). All figures in this report are expressed in Mexican pesos, unless otherwise noted. Tables state figures in thousands of Mexican pesos, unless otherwise noted. Passenger figures for Mexico and Colombia exclude transit and general aviation passengers, unless otherwise noted. Commercial revenues include revenues from non-permanent ground transportation and parking lots. U.S. dollar figures are calculated at an exchange rate of US$1.00 = Ps.18.3342 (source: Diario Oficial de la Federación de México) while Colombian peso figures are calculated at an exchange rate of COP. 214.2200 = Ps.1.00 (source: Investing). Definitions for EBITDA, Adjusted EBITDA Margin, and Majority Net Income can be found on page 18 of this report. Table 1: Financial and Operating Highlights1 Third Quarter % Chg. 2024 2025 Financial Highlights Total Revenue 7,483,293 8,765,450 17.1 Mexico 5,386,401 6,479,089 20.3 San Juan 1,215,566 1,325,782 9.1 Colombia 881,326 960,579 9.0 Commercial Revenues per PAX 124.9 126.1 1.0 Mexico 149.0 144.2 (3.3) San Juan 152.4 166.8 9.5 Colombia 52.0 59.1 13.6 EBITDA 4,700,373 4,639,368 (1.3) Net Income 3,474,554 2,211,351 (36.4) Majority Net Income 3,381,190 2,114,592 (37.5) Earnings per Share (in pesos) 11.2706 7.0486 (37.5) Earnings per ADS (in US$) 6.1473 3.8445 (37.5) Capex 1,042,400 1,872,758 79.7 Cash & Cash Equivalents 18,483,601 16,259,294 (12.0) Net Debt (5,853,192) 4,972,580 (185.0) Net Debt/ LTM EBITDA (0.3) 0.2 (178.3) Operational Highlights Passenger Traffic Mexico 9,624,910 9,519,731 (1.1) San Juan 3,316,577 3,354,150 1.1 Colombia 4,314,938 4,449,600 3.1
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ASUR 3Q25 Page 2 of 25 Passenger Traffic ASUR’s total passenger traffic increased 0.4% YoY to 17.3 million passengers. In Mexico, total passenger traffic declined 1. 1% YoY to 9.5 million in 3Q25 , reflecting declines of 0.3 % in international traffic and 1.8% in domestic traffic. Total passenger traffic in Puerto Rico increased 1.1 % YoY to 3. 3 million, driven by an increase of 11.7% in international traffic which more than offset a decrease of 0.5% in domestic traffic. In Colombia, total passenger traffic increased 3.1 % YoY to 4.4 million passengers, resulting from increases of 11.2% increase in international traffic and 0.8% in domestic traffic. On page 20 of this report, you will find the tables with detailed information on passenger traffic for each airport. Table 2: Passenger Traffic Summary Third Quarter % Chg. Nine-Months % Chg. 2024 2025 2024 2025 Total México 9,624,910 9,519,731 (1.1) 31,314,960 30,481,397 (2.7) - Cancun 6,875,035 6,714,404 (2.3) 23,113,585 22,196,857 (4.0) - 8 Other Airports 2,749,875 2,805,327 2.0 8,201,375 8,284,540 1.0 Domestic Traffic 5,255,435 5,162,613 (1.8) 14,767,525 14,678,566 (0.6) - Cancun 2,789,025 2,639,317 (5.4) 7,653,937 7,457,990 (2.6) - 8 Other Airports 2,466,410 2,523,296 2.3 7,113,588 7,220,576 1.5 International traffic 4,369,475 4,357,118 (0.3) 16,547,435 15,802,831 (4.5) - Cancun 4,086,010 4,075,087 (0.3) 15,459,648 14,738,867 (4.7) - 8 Other Airports 283,465 282,031 (0.5) 1,087,787 1,063,964 (2.2) Total San Juan, Puerto Rico 3,316,577 3,354,150 1.1 10,047,837 10,543,332 4.9 Domestic Traffic 2,882,815 2,869,504 (0.5) 8,891,739 9,220,652 3.7 International traffic 433,762 484,646 11.7 1,156,098 1,322,680 14.4 Total Colombia 4,314,938 4,449,600 3.1 12,218,181 12,635,396 3.4 Domestic Traffic 3,352,638 3,379,292 0.8 9,551,303 9,631,323 0.8 International traffic 962,300 1,070,308 11.2 2,666,878 3,004,073 12.6 Total traffic 17,256,425 17,323,481 0.4 53,580,978 53,660,125 0.1 Domestic Traffic 11,490,888 11,411,409 (0.7) 33,210,567 33,530,541 1.0 International traffic 5,765,537 5,912,072 2.5 20,370,411 20,129,584 (1.2) Note: Passenger figures for Mexico and Colombia exclude transit and general aviation passengers, while Puerto Rico includes t ransit passengers and general aviation. Table 3: % YoY Change in Passenger Traffic 2025 & 2024 Region JAN FEB MAR APR MAY JUN JUL AUG SEP TOTAL Mexico (4.1%) (7.5%) (3.0%) 0.5% (3.0%) (2.8%) 2.0% (1.6%) (4.5%) (2.7%) Domestic Traffic (0.7%) (2.9%) 1.1% 5.1% (0.4%) (2.1%) 0.4% (2.6%) (3.1%) (0.6%) International Traffic (6.5%) (10.6%) (5.7%) (3.3%) (5.6%) (3.4%) 3.7% (0.4%) (6.5%) (4.5%) Puerto Rico 9.3% 8.6% 13.7% 13.5% 1.3% (3.3%) (1.9%) 4.6% 1.6% 4.9% Domestic Traffic 8.0% 7.5% 13.8% 11.6% 0.2% (5.1%) (3.5%) 3.3% (0.5%) 3.7% International Traffic 20.5% 19.2% 12.0% 29.6% 10.5% 9.2% 8.0% 13.7% 16.1% 14.4% Colombia 12.3% 3.3% 3.1% 4.8% (3.4%) 1.7% 3.5% 2.7% 3.2% 3.4% Domestic Traffic 8.7% 1.1% 1.6% 2.0% (6.1%) (1.4%) 1.2% (0.2%) 1.4% 0.8% International Traffic 24.2% 11.3% 8.4% 15.6% 6.7% 13.3% 10.7% 12.8% 10.0% 12.6% Total 1.7% (2.6%) 1.2% 3.8% (2.2%) (1.8%) 1.5% 0.6% (1.4%) 0.1% Domestic Traffic 4.3% 1.1% 4.9% 5.9% (1.9%) (2.8%) (0.5%) (0.5%) (1.2%) 1.0% International Traffic (1.8%) (7.2%) (3.6%) 0.5% (2.9%) (0.1%) 5.1% 2.9% (1.9%) (1.2%)
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ASUR 3Q25 Page 3 of 25 Review of Consolidated Results Table 4: Summary of Consolidated Results Third Quarter % Chg. Nine-Months % Chg. 2024 2025 2024 2025 Total Revenues 7,483,293 8,765,450 17.1 22,312,210 26,268,357 17.7 Aeronautical Services 4,527,080 4,578,013 1.1 13,784,659 14,597,469 5.9 Non-Aeronautical Services 2,355,422 2,375,014 0.8 7,370,287 7,960,438 8.0 Total Revenues Excluding Construction Revenues 6,882,502 6,953,027 1.0 21,154,946 22,557,907 6.6 Construction Revenues 600,791 1,812,423 201.7 1,157,264 3,710,450 220.6 Total Operating Costs & Expenses 3,386,119 5,070,507 49.7 9,292,889 13,059,580 40.5 Other Revenues Operating Profit 4,097,174 3,694,943 (9.8) 13,019,321 13,208,777 1.5 Operating Margin 54.8% 42.2% (1260 bps) 58.4% 50.3% (807 bps) Adjusted Operating Margin 1 59.5% 53.1% (639 bps) 61.5% 58.6% (299 bps) EBITDA 4,700,373 4,639,368 (1.3) 14,733,187 15,389,125 4.5 EBITDA Margin 62.8% 52.9% (988 bps) 66.0% 58.6% (745 bps) Adjusted EBITDA Margin 2 68.3% 66.7% (157 bps) 69.6% 68.2% (142 bps) Net income 3,474,554 2,211,351 (36.4) 10,440,721 8,119,752 (22.2) Net income majority 3,381,190 2,114,592 (37.5) 10,136,848 7,775,190 (23.3) Earnings per Share 11.2706 7.0486 (37.5) 33.7895 25.9173 (23.3) Earnings per ADS in US$ 6.1473 3.8445 (37.5) 18.4298 14.1360 (23.3) Total Commercial Revenues per Passenger 3 124.9 126.1 1.0 125.9 136.5 8.4 Commercial Revenues 2,180,190 2,211,559 1.4 6,810,464 7,406,683 8.8 Commercial Revenues from Direct Operations per Passenger 4 21.1 21.9 3.8 22.3 23.7 6.1 Commercial Revenues Excl. Direct Operations per Passenger 103.8 104.2 0.4 103.6 112.9 9.0 1 Adjusted operating margin excludes the effect of IFRIC12 with respect to the construction or improvements to concessioned assets in Mexico, Puerto Rico and Colombia , and is calculated by dividing operating income by total revenues minus revenues from construction services. 2 Adjusted EBITDA Margin excludes the effect of IFRIC12 with respect to the construction or improvements to concessioned assets in Mexico, Puerto Rico and Colombia, and is calculated by dividing EBITDA by total revenues minus revenues from construction services. 3 Passenger figures include transit and general aviation passengers Mexico, Puerto Rico y Colombia. 4 Represents ASUR´s operations in convenience stores. Consolidated Revenues Consolidated Revenues in 3Q25 increased 17.1% YoY, or Ps.1,282.1 million, to Ps.8,765.4 million, primarily driven by the following increases: • 201.7%, or Ps.1,211.6 million, in construction services revenues to Ps.1, 812.4 million, primarily reflecting higher activity in Mexico. • 1.1%, or Ps.50.9 million, in aeronautical services revenues to Ps.4, 578.0 million. Of this, Mexico contributed Ps.3, 306.3 million while Puerto Rico and Colombia accounted for Ps. 585.9 million and Ps.685.0 million, respectively. • 0.8%, or Ps.1 9.6 million, in non -aeronautical services revenues to Ps.2, 375.9 million. Mexico accounted for Ps.1,540.9 million, Puerto Rico Ps.561.9 million, and Colombia Ps.272.2 million. Excluding Construction Services Revenues, which under IFRS are recognized as both revenue and cost, total revenues would have increased 1.0% to Ps.6,953.0 million, 69.7% of which accounted for total revenues in Mexico, while Puerto Rico and Colombia represented 16.5% and 13.8%, respectively. Commercial revenues increased 1.4% YoY to Ps.2,211.5 million in 3Q25. Revenue growth was mainly driven by increases of 10.7% to Ps. 559.5 million in Puerto Rico and 17.3% to Ps. 272.0 million in Colombia, while revenues in Mexico declined 4.4% to Ps.1,380.0 million.
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ASUR 3Q25 Page 4 of 25 Commercial Revenues per Passenger increased by 1.0% to Ps.126.1 in 3Q25, from Ps.124.9 in 3Q24. Consolidated Operating Costs and Expenses Consolidated Operating Costs and Expenses increased 49.7% YoY, or Ps.1,684.4 million, to Ps. 5,070.5 million. Excluding construction costs, operating costs and expenses increased 17. 0%, or Ps.472.7 million, YoY, driven by the following factors: • Mexico: increased 4.1%, or Ps.65.0 million, mainly due to higher personnel and electricity costs, security and cleaning services, depreciation and amortization, and professional fees. This increase was partially offset by lower maintenance and conservation expenses. • Puerto Rico: increased 7 .8%, or Ps.56.6 million, primarily due to higher costs in operations, concession fees, software licenses, cleaning services, provision for doubtful accounts, maintenance and conservation, taxes and duties, personnel and electricity costs. This was partially offset by lower professional fees and insurance and surety costs. • Colombia: increased 75. 9%, or Ps.351.1 million, mainly due to higher depreciation and amortization resulting from an adjustment to the concession amortization method , personnel costs, security and cleaning services, insurance and surety costs, concession fees, and professional fees. This was partially offset by lower maintenance and conservation expenses. Cost of Services increased 8.7%, or Ps.120.8 million, in the quarter mainly due to increases in personnel, security and cleaning, professional fees, licenses, insurance and sureties, electricity, taxes and duties , maintenance reserves. Construction Costs increased 201.7%, or Ps.1,211.6 million, reflecting increases of 262.6% in Mexico (Ps.1,181.9 million), 117.3% in Colombia (Ps.1.4 million), and 18.9% in Puerto Rico (Ps.28.3 million). Administrative Expenses which reflect administrative costs incurred in Mexico, increased 34.0% year-over- year. Technical Assistance Fees decreased 4.1%, reflecting lower EBITDA generated by ASUR’s Mexican operations. Concession Fees decreased by 0.9% on a consolidated basis, reflecting decreases of 6.0%, 9.0%, and 8.2% in Mexico, Colombia, and Puerto Rico, respectively, driven by an increase in regulated and non -regulated revenues. Depreciation and Amortization increased 56.4%, or Ps. 339.4 million, reflecting increases of 300. 4%, or Ps.327.6 million in Colombia from a Ps.332.8 million adjustment to the concession amortization method and 4.4%, or Ps.1 3.1 million, in Mexico. This was partially offset by a 0 .7%, or Ps.1.3 million, decline in Puerto Rico. Consolidated Operating Profit and EBITDA Consolidated Operating Profit for 3Q25 decreased to Ps.3,694.9 million with a margin of 42.2%, compared to Ps.4,097.2 million and a margin of 54.8% in 3Q24. The Adjusted Operating Margin, which excludes the effect of IFRIC 12 related to construction or improvements to concessioned assets in Mexico, Puerto Rico, and Colombia, and is calculated as operating profit divided by total revenues excluding construction services, decreased to 53.1% in 3Q25, from 59.5% in 3Q24, mainly impacted by the change in amortization method for concessions in Colombia. EBITDA declined by 1.3%, or Ps.61.0 million, to Ps.4,639.4 million in 3Q25, from Ps.4,700.4 million in 3Q24. By country of operations, EBITDA in Puerto Rico increased 4.5%, or Ps.24.0 million to Ps.562.3 million, and in Colombia by 1 0.3%, or Ps. 54.3 million to Ps.5 81.0 million. In Mexico, EBITDA decreased 3 .8%, or Ps. 139.3 million to Ps.3,496.1 million. The Consolidated EBITDA Margin declined to 52.9% in 3Q25, from 62.8% in 3Q24.
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ASUR 3Q25 Page 5 of 25 The Adjusted EBITDA Margin , which excludes the effect of IFRIC 12 related to construction or improvements to concessioned assets in Mexico, Puerto Rico, and Colombia, declined to 66.7 % in 3Q25, from 68.3% in 3Q24. Comprehensive Financing Gain (Loss) Table 5: Consolidated Comprehensive Financing Gain (Loss) Third Quarter % Chg. Nine-Months % Chg. 2024 2025 2024 2025 Interest Income 483,133 352,335 (27.1) 1,264,930 1,200,017 (5.1) Interest Expense (230,360) (445,672) 93.5 (591,859) (1,019,786) 72.3 Foreign Exchange Gain (Loss), Net 653,700 (378,750) n/a 1,399,298 (1,750,393) n/a Total 906,473 (472,087) n/a 2,072,369 (1,570,162) n/a In 3Q25, ASUR recorded a C omprehensive Financing Loss of Ps. 472.1 million, compared to a gain of Ps.906.5 million in 3Q24. This YoY variation was primarily driven by a Foreign Exchange Loss of Ps.378.7 million in 3Q25, compared to a foreign exchange gain of Ps.653.7 million in 3Q24. The 3Q25 loss reflects the appreciation of the Mexican peso against the U.S. dollar at quarter -end and on average, by 2.6 % and 1.1%, respectively, on a U.S. dollar net asset position, compared to a depreciation of 7.6% and 3.7%, respectively, in 3Q24 on a U.S. dollar net asset position. In addition, interest income declined 27.1 %, or Ps.130.8 million, reflecting a lower cash position following the dividend payment in May and September 2025, while interest expense increased by 93.5%, or Ps.2 15.3 million, mainly due to the Ps.9,500.0 million loan incurred in Mexico on May 22, 2025. Income Taxes Income taxes declined by Ps.518.4 million year-over-year, primarily due to the following decreases: • Ps.400.6 million in income tax expense, mainly driven by a decrease in the taxable base in Mexico, and • Ps.117.8 million in deferred income taxes, primarily in Mexico, due to the recognition of deferred taxes on previously untaxed retained earnings from ASUR’s investments in Colombia and Puerto Rico in 3Q24. This was further impacted by the tax benefit from unredeemed asset balances, partially offset by the initial recognition of deferred income tax at the Cozumel Airport. Net Majority Income ASUR reported a 37.5% YoY decrease in Net Majority Income for 3Q25, totaling Ps.2,144. 6 million, compared to Ps.3,381.2 million in 3Q24. This YoY variation was mainly driven by a Foreign Exchange Loss of Ps.1.032.4 million in 3Q25 resulting from the appreciation of the Mexican peso against the US dollar compared to a foreign exchange gain of Ps. 942.0 million in 3Q24 reflecting the depreciation of the Mexican peso against the US dollar together with a Ps.339.4 million increase in amortization and depreciation, principally reflecting a Ps.332.8 million adjustment in the concession amortization method in Colombia. Earnings per common share for the quarter were Ps.7. 0486, and earnings per ADS were US$3. 8445 (one ADS represents ten Series B common shares). This compares with earnings per share of Ps.11.2706 and earnings per ADS of US$6.1473 in the same period of the prior year. Net Income Net Income for 3Q25 totaled Ps.2,211.3 million, compared to Ps.3,474.5 million in 3Q24, representing a YoY decrease of 36.4%, or Ps.1,263.2 million.
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ASUR 3Q25 Page 6 of 25 Consolidated Financial Position As of September 30, 2025, airport concessions represented 71.5% of the Company’s total assets, current assets accounted for 27.8%, and other assets represented 0.7%. As of September 30, 2025, cash and cash equivalents totaled Ps. 16,259.3 million, a 1 9.0% decrease from Ps.20,083.4 million as of December 31, 2024, principally driven by the dividend payments. The cash position by country was as follows: Mexico Ps.1 3,705.8 million, Colombia Ps. 1,333.9 million, and Puerto Rico Ps.1,219.6 million. As of September 30, 2025, ASUR’s valuation of its investment in Aerostar (Puerto Rico), in accordance with IFRS 3 “Business Combinations,” resulted in the following effects on the Balance Sheet: i) the recognition of a net intangible asset of Ps.4,583.7 million, ii) goodwill of Ps.875.9 million (net of an impairment loss of Ps.4,719.1 million), iii) deferred income tax liability of Ps.458.4 million, and iv) a minority interest of Ps.4,846.9 million in stockholders’ equity. As of September 30, 2025, ASUR´s valuation of its investment in Airplan (Colombia), in accordance with IFRS 3 “Business Combinations” resulted in the following effects on its Balance Sheet as follows: i) a net intangible asset of Ps.679.6 million, ii) goodwill of Ps.1,438.3 million, iii) deferred income tax payable of Ps.205.6 million, and iv) fair value recognition of bank loans of Ps.92.2 million. As of September 30, 2025, total equity was Ps. 44,134.1 million, representing 57.5% of Total Assets, while Total Liabilities amounted to Ps. 32,686.5 million, or 42.5% of total assets. Deferred Liabilities represented 11.6% of total liabilities. Total debt at quarter -end increased 58.9% to Ps.21,231.9 million, compared with Ps.13,359.4 million as of December 31, 2024. This increase was primarily driven by the Ps.9,500.0 million loan secured in Mexico on May 22, 2025, maturing on May 21, 2027, and bearing interest at the 28- day TIIEF rate plus 1.25 percentage points. The increase also reflects the effect of foreign exchange conversion, partially offset by a principal repayment of Ps.263.1 million in Puerto Rico. As of September 30, 2025, 56.1 % of ASUR’s total debt was denominated in Mexican pesos, 42.0 % in U.S. dollars (debt associated with Puerto Rico’s operations) , and 1.9 % in Colombian pesos ( debt associated with Colombia’s operations). In May 2022, Aerostar renegotiated the terms of its US$50 million principal amount of 6.75% senior secured notes originally due on June 24, 2015, and extended their maturity through March 22, 2035. All long- term debt is collateralized by Aerostar’s assets. In July 2022, Aerostar in Puerto Rico issued US$ 200.0 million principal amount of 4.92% senior secured notes due March 22, 2035. On November 15, 2023, Aerostar amended its US$20.0 million revolving credit facility with Banco Popular de Puerto Rico, to extend the maturity date through December 29, 2026. As of March 31, 2025, no amounts have been drawn under this facility. In July 2024, ASUR restructured its credit facility with BBVA México, adjusting the repayment to a single principal payment at maturity. The facility carries an annual interest rate of TIIE 28 -day + 1.35% spread, and matures on July 11, 2029. On November 26, 2024, Aerostar amended its US$10.0 million secured revolving credit facility with Banco Popular de Puerto Rico, to extend its maturity through December 18, 2027, and with an applicable interest rate fluctuating between 0.75% and 3.0%, plus a 2.0% default interest rate. Aerostar is required to maintain a debt coverage ratio of 1.00 at the end of each quarter. As of September 30, 2025, no amounts had been drawn from this facility. On September 2025, Cancun Airport amended its credit line with Santander to extend its maturity to September 26, 2027, with an applicable interest rate of TIIEF plus 1.5 points. ASUR’s Net Debt -to-LTM EBITDA ratio stood at 0. 2x as of June 30, 2025, compared to negative 0.3x as of September 30, 2024. The interest coverage ratio increased to 12.8x from 12.1x as of September 30, 2024.
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ASUR 3Q25 Page 7 of 25 Table 6: Consolidated Debt Indicators September 30, 2024 December 31, 2024 September 30, 2025 Leverage Total Debt/ LTM EBITDA (Times) 1 0.7 0.7 1.0 Total Net Debt/ LTM EBITDA (Times) 2 (0.3) (0.3) 0.2 Interest Coverage Ratio 3 12.1 12.5 12.8 Total Debt 12,630,409 13,359,456 21,231,874 Short-term Debt 969,613 1,131,530 334,138 Long-term Debt 11,660,796 12,227,926 20,897,736 Cash & Cash Equivalents 18,483,601 20,083,457 16,259,294 Total Net Debt 4 (5,853,192) (6,724,001) 4,972,580 4 Total net debt is calculated as Asur’s total debt without Cash & Cash Equivalents. Table 7: Consolidated Debt Profile (millions)* Aerostar US$ Cancun Airport M´Mxp $ Airplan M C ol Ps Original Ammount 350´M 200´M 50´M BBVA 2,000 Santander 2,650 BBVA 9,500 Syindicated Loan 440,000 Interest rate 5.75% 4.92% 6.75% TIIE + 1.35 pp TIIEF +1.50 pp TIIEF + 1.25 pp DTF + 4pp Principal Balance as of June 30, 2025 251.2 200.0 42.0 1,750.0 675.0 9,500.0 67,897.2 2026 15.0 - - - - - 30,499.7 2027 16.6 - - - 675.0 9,500.0 37,397.5 2028 16.2 - - - - - - 2029 17.3 - - 1,750.0 - - - 2030 20.9 - - - - - - 2031 27.0 - - - - - - 2032 34.4 - - - - - - 2033 38.5 - - - - - - 2034 42.6 - - - - - - 2035 22.6 200.0 42.0 - - - - 1 DTF is an average 90-day rate to which the credit facilities in Colombia are pegged. The loans from Mexico were made in October 2017, with Bancomer and Santander. The bonds from Puerto Rico were issued in March 2013 and June 2015 (in May 2022 the payment date at maturity was modified to 2035). The syndicated loan from Colombia was obtained in June 2015, with a grace period of three years. In April 2022, Airplan made capital payments for Cop. 100,000 million, and its next principal payment is due in September 2026. In July 2022, Aerostar issued senior secured notes for US$200,000 million due March 22, 2035. On November 30, 2022, March 29, 2023, and September 29, 2023, Cancun Airport prepaid Ps.650 million, Ps.662.5 million and Ps.662.5 million of the loan with Santander, respectively. Cancún Airport made capital payments of Ps.50 million of the BBVA loan on e ach of the following dates: April 14, 2023, July 14, 2023, October 13, 2023, January 15, 2024, and 15 April 2024. On September 26, 2025, Cancun Airport renewed the Santander loan for Ps. 675.0 million, the new maturity date is September 26, 2027, with a TIIEF rate +1.5 0 pp." *Expressed in the original currency of each loan. Strong Liquidity Position and Healthy Debt Maturity Profile ASUR closed 3Q25 with a solid financial position, reporting Cash and Cash Equivalents of Ps. 16,259.3 million and Total Debt plus interest of Ps.21,231.9 million. The following table shows the liquidity position for each of ASUR’s regions of operations: Table 8: Liquidity Position as of September 30, 2025 Figures in thousands of Mexican Pesos Region of Operation Cash & Equivalents Total Debt Short-term Debt Long-term Debt Principal Payments (Apr – Jun 2025) Mexico 13,705,839 11,915,630 43,305 11,872,325 0 Puerto Rico 1,219,590 8,904,942 288,710 8,616,232 0 Colombia 1,333,865 411,302 2,123 409,179 0 Total 16,259,294 21,231,874 334,138 20,897,736 -
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ASUR 3Q25 Page 8 of 25 Table 9: Debt Maturity Profile as of September 30, 2025 Figures in thousands of Mexican pesos Region of Operation 2025 2026 2027 2028/2035 México 0 0 10,175,000 1,750,000 Puerto Rico 0 274,899 304,674 8,461,897 Colombia 0 142,376 174,575 0 Total 0 417,275 10,654,249 10,211,897 1 Figures in pesos converted at the exchange rate at the close of the quarter Ps. 18.8342=US$1.00 2 Figures in pesos converted at the exchange rate at the close of the quarter of COP 214.2200 =Ps.1.00 Table 10: Debt Ratios at September 30, 2025 LTM EBITDA and interest expense figures in thousands of Mexican Pesos Region LTM EBITDA LTM Interest Expenses Debt Coverage Ratio Minimum Coverage Requirement as per Agreements México1 15,763,754 358,511 44.0 3.0 Puerto Rico2 1,652,122 759,507 2.2 1.1 Colombia3 1,465,763 355,277 4.1 1.2 Total 18,881,639 1,473,295 12.8 1 Per the applicable debt agreement, the formula for the Interest Coverage ratio is: LTM EBITDA/ LTM Interest Expense. 2 Per the applicable debt agreement, the formula for the Debt Coverage ratio is: LTM Cash Flow Generation / LTM Debt Service. L TM Cash Flow Generation for the period was Ps.1,7 billion and LTM Debt Service was Ps.759.5 million. 3 Per the applicable debt agreement, the formula for the Debt Coverage ratio is: (LTM EBITDA minus LTM Taxes)/ LTM Debt Service . EBITDA minus Taxes for the period, amounted to Ps.1.5 billion and Debt Service was Ps.355.3 million. Accounts Receivables Accounts receivables declined 32.2% YoY in 3Q25 , reflecting an increase in collections from clients in Mexico and Colombia. Table 11: Accounts Receivables at September 30, 2025 Figures in thousands of Mexican Pesos Region 2Q24 2Q25 % Change México 2,031,717 1,240,013 (39.0) Puerto Rico 78,128 179,417 129.6 Colombia 110,624 85,150 (23.0) Total 2,220,469 1,504,580 (32.2) Note: Net of allowance for bad debts. Capital Expenditures In 3Q25, ASUR made capital investments of totaling Ps. 1,872.7 million, of which Ps. 1,681.8 million were allocated to the modernization of its Mexican airports under its development plan, Ps. 187.9 million to Aerostar in Puerto Rico, and Ps.3. 0 million to Airplan in Colombia. This compares with Ps. 1,042.4 million invested in 3Q24, of which Ps.867.7 million were allocated to Mexican airports, Ps.164.5 million to Puerto Rico, and Ps.1.2 million to Colombia. On an accumulated basis, total capital expenditures amounted to Ps. 3,908.5 million, with Ps. 3,461.1 million allocated to the modernization of Mexican airports, Ps. 437.5 million to Aerostar in Puerto Rico, and Ps. 9.9 million to Airplan in Colombia. This compares with Ps.1,861.8 million invested during the same period in 2024, including Ps. 1,444.5 million for Mexican airports, Ps. 410.6 million for Puerto Rico, and Ps. 6.7 million for Colombia. 3Q25 Relevant Events On July 30, 2025, ASUR’s subsidiary ASUR US Commercial Airports, LLC entered into a purchase agreement with URW’s wholly-owned subsidiary Westfield Development, Inc. to acquire all of the issued and outstanding equity interest of URW Airports, LLC for an enterprise value of US$295 million. The acquired business manages select commercial programs at U.S. airports, including Terminals 1, 2, 3, 6, Tom Bradley International Terminal and Tom Bradley International Terminal West at Los Angeles International Airport,
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ASUR 3Q25 Page 9 of 25 Terminal 5 at Chicago O’Hare International Airport, and Terminal 8 and New Terminal One at John F. Kennedy International Airport. The acquisition represents ASUR's strategic expansion into the U.S. airport retail concessions market. The transaction, which is expected to occur during the fourth quarter of 2025, is subject to customary conditions precedent. Review of Mexico Operations Table 12: Mexico Revenues & Commercial Revenues Per Passenger Third Quarter % Chg. Nine-Months % Chg. 2024 2025 2024 2025 Total Passenger 9,682 9,573 (1.1) 31,486 30,634 (2.7) Total Revenues 5,386,401 6,479,089 20.3 16,461,179 19,405,994 17.9 Aeronautical Services 3,321,058 3,306,284 (0.4) 10,420,313 10,727,876 3.0 Non-Aeronautical Services 1,615,332 1,540,904 (4.6) 5,256,423 5,384,649 2.4 Construction Revenues 450,011 1,631,901 262.6 784,443 3,293,469 319.8 Total Revenues Excluding Construction Revenues 4,936,390 4,847,188 (1.8) 15,676,736 16,112,525 2.8 Total Commercial Revenues 1,442,905 1,379,975 (4.4) 4,705,227 4,838,811 2.8 Commercial Revenues from Direct Operations 256,183 257,876 0.7 876,863 889,495 1.4 Commercial Revenues Excluding Direct Operations 1,186,722 1,122,099 (5.4) 3,828,364 3,949,316 3.2 Total Commercial Revenues per Passenger 149.0 144.2 (3.3) 149.4 158.0 5.7 Commercial Revenues from Direct Operations per Passenger 1 26.5 26.9 1.8 27.9 29.0 4.3 Commercial Revenues Excl. Direct Operations per Passenger 122.6 117.2 (4.4) 121.6 128.9 6.0 For the purposes of this table, approximately 57.5 and 52.9 thousand transit and general aviation passengers are included in 3 Q24 and 3Q25 respectively, while 170.9 and 152.8 thousand transit and general aviation passengers are included in 9 M24 an 9M25, respectively. 1 Represents the operation of ASUR in its convenience stores in Mexico. Mexico Revenues Mexico Revenues for 3Q25 increased 20.3% YoY to Ps.6,479.1 million, mainly reflecting higher construction revenues. Excluding Construction Services, Revenues declined 1.8% YoY, reflecting decreases of 0.4% in aeronautical services revenue and 4.6 % in non -aeronautical revenues, mainly due t o the 1.1% decline in passenger traffic during the period. Commercial Revenues for the quarter declined 4 .4% YoY. Additionally, Commercial Revenue per Passenger declined to Ps.144.2 in 3Q25, from Ps.149.0 in 3Q24. ASUR classifies commercial revenues as those derived from the following activities: Duty -Free Stores, Car Rentals, Retail Operations, Banking and Currency Exchange Services, Advertising, Teleservices, Non - permanent Ground Transportation, Food and Beverage Operations, Parking Lot Fees, and Other Services. As shown in Table 14, ASUR opened six new commercial locations at Mérida Airport over the past twelve months. Additional details on these openings can be found on page 21 of this report.
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ASUR 3Q25 Page 10 of 25 Table 13: Mexico Commercial Revenue Performance Table 14: Mexico Summary Retail and Other Commercial Space Opened since September 30,2024 Bussines Line YoY Chg Type of Commercial Space 1 # Of Spaces Opened 3Q25 9M25 Car Parking 4.0% 7.9% 8 Others airports Ground Transportation 2.3% 1.6% Retail 3 Food and Beverage 1.3% 2.3% Banks and foreign exchange 1 Teleservices (0.2%) 34.1% Car rental 2 Duty Free (2.0%) 7.2% Mexico 6 Retail (5.0%) (1.4%) Other Revenues (6.2%) 14.0% Car Rental (8.8%) 6.3% Advertising (24.6%) (21.0%) 1 Only includes new stores opened during the period and excludes remodelings or contract renewals. Banks and Foreign Exchange (28.4%) (0.6%) Total Commercial Revenues (4.4%) 2.8% Mexico Operating Costs and Expenses Table 15: Mexico Operating Costs & Expenses Third Quarter % Chg. Nine-Months % Chg. 2024 2025 2024 2025 Cost of Services 725,215 783,956 8.1 2,158,821 2,325,187 7.7 Administrative 65,107 87,273 34.0 224,879 266,328 18.4 Technical Assistance 92,979 89,198 (4.1) 299,573 302,634 1.0 Concession Fees 419,309 394,190 (6.0) 1,310,820 1,401,905 6.9 Depreciation and Amortization 297,654 310,695 4.4 881,426 937,900 6.4 Operating Costs and Expenses Excluding Construction Costs 1,600,264 1,665,312 4.1 4,875,519 5,233,954 7.4 Construction Costs 450,011 1,631,901 262.6 784,443 3,293,469 319.8 Total Operating Costs & Expenses 2,050,275 3,297,213 60.8 5,659,962 8,527,423 50.7 Total Operating Costs and Expenses increased 6 0.8%, or Ps.1,246.9 million YoY. Excluding construction costs, operating costs and expenses increased 4.1%, or Ps.65.0 million, primarily due to higher personnel expenses, electricity costs, security and cleaning services, depreciation and amortization, and professional fees. These increases were partially offset by lower maintenance and conservation expenses. Cost of Services increased 8. 1%, mainly due to higher personnel expenses, electricity expenses, security and cleaning services, depreciation and amortization, and professional fees. These were partially offset by a decline in maintenance and conservation expenses. Administrative Expenses increased by 34.0% YoY. Technical Assistance Fees paid to ITA declined 4.1 %, reflecting a decrease in EBITDA related to the Mexican operations. Concession Fees, which include payments made to the Mexican government , declined by 6.0%, mainly due to a lower tariff calculation base. Depreciation and Amortization increased by 4.4% YoY, reflecting the recognition of investments made to date.
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ASUR 3Q25 Page 11 of 25 Mexico Consolidated Comprehensive Financing Gain (Loss) Table 16: Mexico Comprehensive Financing Gain (Loss) Third Quarter % Chg. Nine-Months % Chg. 2024 2025 2024 2025 Interest Income 379,449 306,103 (19.3) 974,746 985,591 1.1 Interest Expense (86,226) (299,819) 247.7 (268,074) (548,156) 104.5 Foreign Exchange Gain (Loss), Net 653,999 (378,641) n/a 1,399,721 (1,750,184) n/a Total 947,222 (372,357) n/a 2,106,393 (1,312,749) n/a During 3Q25, ASUR’s operations in Mexico reported a Comprehensive Financing Loss of Ps.372.3 million, compared with a gain of Ps.947.2 million in 3Q24. This was mainly due to a Foreign Exchange Loss of Ps.378.6 million recorded in 3Q25, compared to a gain of Ps. 654.0 million in 3Q24. The 3Q25 Foreign Exchange Loss resulted mainly from the appreciation of the Mexican peso against the U.S. dollar at quarter -end and on average, by 2.6% and 1.1%, respectively, on a U.S. dollar net asset position. This compares to a 7.6% quarter-end and 3.7% average depreciation of the peso in 3Q24, also on a U.S. dollar net asset position. Additionally, Interest Income decreased by 19.4%, or Ps. 73.3 million, mainly reflecting lower cash balances following dividend payments in May and September 2025. Interest expense increased by 247.7%, or Ps.213.6 million, primarily due to the Ps.9,500.0 million loan obtained on May 22, 2025 in Mexico. Mexico Operating Profit (Loss) and EBITDA Table 17: Mexico Profit & EBITDA Third Quarter % Chg. Nine-Months % Chg. 2024 2025 2024 2025 Total Revenue 5,386,401 6,479,089 20.3 16,461,179 19,405,994 17.9 Total Revenues Excluding Construction Revenues 4,936,390 4,847,188 (1.8) 15,676,736 16,112,525 2.8 Operating Profit 3,336,126 3,181,876 (4.6) 10,801,217 10,878,571 0.7 Operating Margin 61.9% 49.1% (1283 bps) 65.6% 56.1% (956 bps) Adjusted Operating Margin 1 67.6% 65.6% (194 bps) 68.9% 67.5% (138 bps) Net Profit 2 2,931,370 1,986,977 (32.2) 8,785,776 6,677,903 (24.0) EBITDA 3,635,458 3,496,103 (3.8) 11,684,320 11,820,226 1.2 EBITDA Margin 67.5% 54.0% (1353 bps) 71.0% 60.9% (1007 bps) Adjusted EBITDA Margin 3 73.6% 72.1% (152 bps) 74.5% 73.4% (117 bps) 1 Adjusted Operating Margin excludes the effect of IFRIC12 with respect to the construction or improvements to concessioned ass ets, and is equal to operating profit divided by total revenues less construction services revenues. 2 This result does not include revenues of Ps.166.5 million and Ps.167.7 million from ASUR’s participation in Aerostar in 3Q25 and 3Q24, respectively, and of Ps.328.8 million and Ps.320.8 million for Airplan in 3Q25 and 3Q24, respectively. 3 Adjusted EBITDA Margin excludes the effect of IFRIC12 with respect to the construction or improvements to concessioned assets, and is calculated by dividing EBITDA by total revenues less construction services revenues. ASUR’s Mexican operations reported Operating Profit of Ps.3,181.9 million in 3Q25, with an Operating Margin of 49.1%, compared to Ps.3,336.1 million and an operating margin of 61.9% in 3Q24. The Adjusted Operating Margin , which excludes the effect of IFRIC 12 with respect to construction or improvements to concessioned assets and is calculated as operating profit divided by total revenues less construction services revenue, was 65.6% in 3Q25, compared to 67.6% in 3Q24. EBITDA decreased by 3.8% YoY, or Ps.139.3 million, to Ps.3,496.1 million in 3Q25, from Ps.3,635.4 million in 3Q24. The EBITDA Margin was 54.0% in 2Q25, compared to 67.5% in 3Q24. The Adjusted EBITDA Margin , which excludes the effect of IFRIC 12 related to construction and improvements of concessioned assets, was 72.1% in 3Q25, compared to 73.6% in 3Q24.
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ASUR 3Q25 Page 12 of 25 Mexico Tariff Regulation The Mexican Ministry of Communications and Transportation regulates the majority of ASUR’s activities by setting maximum rates, which represent the maximum possible revenues allowed per traffic unit at each airport. ASUR’s accumulated regulated revenue in Mexico, updated according to tariff regulations, amounted to Ps.11.052.3 million as of September 30, 202 5. The weighted implicit tariff was Ps. 349.9 (in December 202 4 pesos) per traffic unit, representing approximately 68.6 % of total revenue for the period, excluding construction revenue. The compliance with maximum tariffs is reviewed annually at the end of the fiscal year by the Ministry of Infrastructure, Communications, and Transportation. Mexico Capital Expenditures During 3Q25, ASUR made capital investments in Mexico totaling Ps.1, 681.8 million, compared to Ps.876.7 million in 3 Q24. On an accumulated basis, capex reached Ps. 3,461.1 million, compared to Ps.1,444.5 million as of 3Q24. Review of Puerto Rico Operations The following analysis compares the standalone results of Aerostar for the three- and nine-month period s ended September 30, 2025 and 2024. As of September 30, 202 5, ASUR’s valuation of its investment in Aerostar (Puerto Rico), in accordance with IFRS 3 “Business Combinations,” resulted in the following effects on the Balance Sheet: i) the r ecognition of a net intangible asset of Ps. 4,583.7 million, ii) goodwill of Ps. 875.9 million ( net of an impairment loss of Ps.4,719.1 million), iii) d eferred income tax liability of Ps. 458.4 million, and iv) a m inority interest of Ps.4,846.9 million in Stockholders’ Equity. Puerto Rico Revenues Table 18: Puerto Rico Revenues & Commercial Revenues Per Passenger In thousands of Mexican pesos Third Quarter % Chg. Nine-Months % Chg. 2024 2025 2024 2025 Total Passenger 3,317 3,354 1.1 10,048 10,543 4.9 Total Revenues 1,215,566 1,325,782 9.1 3,431,728 4,002,320 16.6 Aeronautical Services 557,791 585,911 5.0 1,578,686 1,807,580 14.5 Non-Aeronautical Services 508,195 561,956 10.6 1,486,485 1,787,260 20.2 Construction Revenues 149,580 177,915 18.9 366,557 407,480 11.2 Total Revenues Excluding Construction Revenues 1,065,986 1,147,867 7.7 3,065,171 3,594,840 17.3 Total Commercial Revenues 505,390 559,564 10.7 1,478,828 1,779,709 20.3 Commercial Revenues from Direct Operations 112,133 126,185 12.5 330,182 394,775 19.6 Commercial Revenues Excluding Direct Operations 393,257 433,379 10.2 1,148,646 1,384,934 20.6 Total Commercial Revenues per Passenger 152.4 166.8 9.5 147.2 168.8 14.7 Commercial Revenues from Direct Operations per Passenger 1 33.8 37.6 11.3 32.9 37.4 13.9 Commercial Revenues Excl. Direct Operations per Passenger 118.6 129.2 9.0 114.3 131.4 14.9 Figures in pesos at the average exchange rate Ps.18.6243 = USD.1.00 for 3Q25 and Ps.19.5130 =USD.1.00 for 9M25. 1 Represents ASUR´s operations in convenience stores in Puerto Rico.
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ASUR 3Q25 Page 13 of 25 Total Puerto Rico Revenues for 3Q25 increased 9.1% YoY to Ps.1,325.8 million. Excluding Construction Services, Revenues increased 7.7% YoY, reflecting increases of 10.6% in non - aeronautical revenues and 5.0% in aeronautical revenues. Commercial Revenue per Passenger increased to Ps.166.8 in 3Q25, from Ps.152.4 in 3Q24. A total of eight new commercial locations opened over the past twelve months through 3Q25, as shown in Table 21. Further details of these openings can be found on page 21 of this report. ASUR classifies commercial revenues as those derived from the following activities: duty -free stores, car rentals, retail operations, advertising, non -permanent ground transportation, food and beverage operations, parking lot fees, banking and currency exchange services, and others. Table 19: Puerto Rico Commercial Revenue Performance Table 20: Puerto Rico Summary Retail and Other Commercial Space Opened since September 30, 2024 Bussines Line YoY Chg Type of Commercial Space 1 # of Spaces Opened 3Q25 9M25 Advertising 72.3% 44.0% Duty Free 3 Other Revenues 42.8% 47.9% Retail 2 Ground Transportation 41.4% 33.7% Food and Beverage 3 Retail 14.5% 19.8% Total Commercial space 8 Duty Free 9.3% 14.5% Food and Beverage 9.2% 17.4% Car Rentals 6.2% 19.4% Car Parking 3.6% 19.4% 1 Only includes new stores opened during the period and excludes remodelings or contract renewals. Banks and Foreign Exchange 2.2% 16.9% Total Commercial Revenues 10.7% 20.3% Puerto Rico Costs & Expenses Table 21: Puerto Rico Operating Costs & Expenses In thousands of Mexican pesos Third Quarter % Chg. Nine-Months % Chg. 2024 2025 2024 2025 Cost of Services 476,392 530,002 11.3 1,310,161 1,550,970 18.4 Concession Fees 51,312 55,544 8.2 146,739 174,205 18.7 Depreciation and Amortization 194,800 193,516 (0.7) 523,066 586,933 12.2 Operating Costs and Expenses Excluding Construction Costs 722,504 779,062 7.8 1,979,966 2,312,108 16.8 Construction Costs 149,580 177,915 18.9 366,557 407,480 11.2 Total Operating Costs & Expenses 872,084 956,977 9.7 2,346,523 2,719,588 15.9 Figures in pesos at the average exchange rate Ps.18.6243 = USD.1.00 for 3Q25 and Ps.19.5130 =USD.1.00 for 9M25. Total Operating Costs and Expenses in Puerto Rico for 3 Q25 increased 9.7 % YoY to Ps. 957.0 million. Construction costs increased 18.9%, to Ps.177.9 million in 3Q25 from Ps.149.6 million in 3Q24. Excluding Construction, Operating Costs and Expenses increased 7.8%, or Ps.56.5 million, mainly reflecting higher operating expenses, including concession fees, software licenses, cleaning services, provision for doubtful accounts, maintenance and conservation, taxes and duties, personnel expenses, and electricity costs. These were partially offset by lower professional fees and insurance and surety bonds. Cost of Services increased by 11.3%, or Ps.53.6 million, primarily due to higher operating costs, software licenses, cleaning services, provision for doubtful accounts , maintenance, taxes and duties, personnel expenses, and electricity costs. These increases were partially offset by reductions in professional fees and insurance and security bonds. Concession Fees increased by 8.2% YoY, or Ps.4.2 million, driven by an increase in the calculation base. Depreciation and Amortization declined by 0.7%, or Ps.1.3 million, YoY, mainly reflecting the impact of foreign exchange conversion.
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ASUR 3Q25 Page 14 of 25 Puerto Rico Comprehensive Financing Gain (Loss) Table 22: Puerto Rico Comprehensive Financing Gain (Loss) In thousands of Mexican pesos Third Quarter % Chg. Nine-Months % Chg. 2024 2025 2024 2025 Interest Income 39,357 24,030 (38.9) 100,520 66,707 (33.6) Interest Expense (140,752) (133,979) (4.8) (399,544) (421,905) 5.6 Total (101,395) (109,949) 8.4 (299,024) (355,198) 18.8 Figures in pesos at the average exchange rate Ps.18.6243 = USD.1.00 for 3Q25 and Ps.19.5130 =USD.1.00 for 9M25. During 3Q25, Puerto Rico reported a comprehensive financing loss of Ps.109.9 million, compared with a loss of Ps.101.4 million in 3Q24, primarily due to foreign exchange conversion effects and a decline in interest income reflecting a lower cash position. On March 22, 2013, Aerostar completed a private placement of bonds totaling US$350.0 million to finance a portion of the concession fee payment to the Puerto Rico Ports Authority and other associated costs and expenses. On June 24, 2015, Aerostar completed another private bond placement totaling US$50.0 million. In May 2022, the maturity date of the US$50.0 million bond issued in June 2015 was extended to March 22, 2035, at a stated yield of 6.75%, with semiannual interest payments. In July 2022, Aerostar in Puerto Rico issued US$200.0 million principal amount of 4.92% senior secured notes due March 22, 2035. On November 15, 2023, Aerostar renewed a US$ 20.0 million revolving credit facility with Banco Popular de Puerto Rico, with a maturity date of December 29, 2026. As of June 30 , 2025, no funds had been drawn from this facility. On November 26, 2024, Aerostar also renewed a US$10.0 million secured revolving credit facility with Banco Popular de Puerto Rico, maturing on December 18, 2027. The applicable interest rate ranges between 0.75% and 3.0%, plus a 2.0% default interest rate. Under the terms of the agreement, Aerostar is required to maintain a debt service coverage ratio of at least 1.00x at the end of each quarter. As of June 30, 2025, no amounts had been drawn under this facility. All long-term debt is collateralized by Aerostar’s assets. Puerto Rico Operating Profit and EBITDA Table 23: Puerto Rico Profit & EBITDA In thousands of Mexican pesos Third Quarter % Chg. Nine-Months % Chg. 2024 2025 2024 2025 Total Revenue 1,215,566 1,325,782 9.1 3,431,728 4,002,320 16.6 Total Revenues Excluding Construction Revenues 1,065,986 1,147,867 7.7 3,065,171 3,594,840 17.3 Other Revenues - - - - - - Operating Profit 343,482 368,805 7.4 1,085,205 1,282,732 18.2 Operating Margin 28.3% 27.8% (44 bps) 31.6% 32.0% 43 bps Adjusted Operating Margin1 32.2% 32.1% (9 bps) 35.4% 35.7% 28 bps Net Income 233,409 241,898 3.6 759,682 861,405 13.4 EBITDA 538,280 562,321 4.5 1,608,270 1,869,665 16.3 EBITDA Margin 44.3% 42.4% (187 bps) 46.9% 46.7% (195 bps) Adjusted EBITDA Margin2 50.5% 49.0% (151 bps) 52.5% 52.0% (46 bps) Figures in pesos at the average exchange rate Ps.18.6243 = USD.1.00 for 3Q25 and Ps.19.5130 =USD.1.00 for 9M25. 1 Adjusted Operating Margin excludes the effect of IFRIC12 with respect to the construction or improvements to concessioned ass ets, and is equal to operating profit divided by total revenues less construction services revenues. 2 Adjusted EBITDA Margin excludes the effect of IFRIC12 with respect to the construction or improvements to concessioned assets, and is calculated by dividing EBITDA by total revenues less construction services revenues.
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ASUR 3Q25 Page 15 of 25 Operating Profit for 3Q25 increased 7.4 % YoY to Ps. 368.8 million, representing an Operating Margin of 27.8%, compared to Ps.343.5 million and an Operating Margin of 28.3% in 3Q24. EBITDA increased 4.5% YoY to Ps.562.3 million in 3Q25, from Ps.538.3 million in 3Q24. The EBITDA margin declined to 42.4% in 3Q25, from 44.3% in 3Q24. The Adjusted EBITDA Margin , which excludes the effect of IFRIC 12 with respect to construction or improvements to concessioned assets, was 49.0% compared to 50.5% in 3Q24. Puerto Rico Capital Expenditures During 3Q25, capital expenditures in Puerto Rico totaled Ps.1 87.9 million, compared with Ps.1 64.5 million in 3Q24. On an accumulated basis, total capex reached Ps. 437.5 million, compared with Ps. 410.6 million in the first nine months of 2024. Puerto Rico Tariff Regulation The Airport Use Agreement (User Agreement) governs the relationship between Aerostar, the airlines operating at Luis Muñoz Marín International Airport (LMM), and the Puerto Rico Ports Authority (PRPA). Under this agreement, Aerostar is entitled to receive an annual contribution of US $62.0 million from the airlines serving the airport during the first five years of the contract term. From year six onward, the total annual contribution for the prior year will increase based on the non- core U.S. Consumer Price Index (CPI adjustment factor). The annual fee is allocated among the airlines operating at LMM in accordance with the guidelines and structure defined in the Airport Use Agreement, which determines each airline's contribution for a given year. Review of Colombia Operations The following discussion compares Airplan’s standalone results for the three-and nine-month periods ended September 30, 2025, and 2024. As of September 30, 2025, ASUR´s valuation of its investment in Airplan (Colombia) , in accordance with IFRS 3 “Business Combinations” resulted in the following effects on its Balance Sheet as follows: i) a net intangible asset of Ps. 679.6 million, ii) goodwill of Ps.1,438.3 million, iii) deferred income tax payable of Ps.2 05.6 million, and iv) fair value recognition of bank loans of Ps.92.2 million. Table 24: Colombia Revenues & Commercial Revenues Per Passenger In thousands of Mexican pesos Third Quarter % Chg. Nine-Months % Chg. 2024 2025 2024 2025 Total Passenger 4,459 4,606 3.3 12,563 13,073 4.1 Total Revenues 881,326 960,579 9.0 2,419,303 2,860,043 18.2 Aeronautical Services 648,231 685,818 5.8 1,785,660 2,062,013 15.5 Non-Aeronautical Services 231,895 272,154 17.4 627,379 788,529 25.7 Construction Revenues 1 1,200 2,607 117.3 6,264 9,501 51.7 Total Revenues Excluding Construction Revenues 880,126 957,972 8.8 2,413,039 2,850,542 18.1 Total Commercial Revenues 231,895 272,020 17.3 626,409 788,163 25.8 Total Commercial Revenues per Passenger 52.0 59.1 13.7 49.9 60.3 20.8 Figures in pesos at an average exchange rate of COP.214.9645 = Ps.1.00 Mexican pesos for 3Q25 and of COP.211.6693 = Ps.1.00 Mexican pesos for 9M25. For the purposes of this table, approximately 144.2 and 156.3 thousand transit and general aviation passengers are included in 3 Q24 and 3Q25, while 344.7 and 437.6 thousand transit and general aviation passengers are included in 9M24 and 9 M25.
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ASUR 3Q25 Page 16 of 25 Colombia Revenues Total Revenues for Colombia in 3Q25 increased 9.0% YoY to Ps.9 60.6 million. Excluding construction services revenue, total revenues increased 8.8% year-over-year, primarily reflecting higher total passenger traffic. Commercial Revenue per Passenger was Ps.59.1 in 3Q25, compared to Ps.52.0 in 3Q24. As shown in Table 26 , a total of 3 1 new commercial spaces were opened over the past twelve months at ASUR’s Colombian airports, including: nine at Rionegro, seven at Quibdó, six at Olaya Herrera , four at Monteria, three at Carepa and two at Corozal. Further details on these openings can be found on pages 21 of this report. ASUR classifies commercial revenues as those derived from the following activities: duty -free retail, car rentals, retail operations, advertising, non -permanent ground transportation, food and beverage operations, parking, teleservices, banking and exchange services, and others. Table 25: Colombia Commercial Revenue Performance Table 26: Colombia Summary Retail and Other Commercial Space Opened since September 30, 2024 Bussines Line YoY Chg Type of Commercial Space 1 # of Spaces Opened 3Q25 9M25 Teleservices 252.1% 341.0% Other Revenues 19 Ground Transportation 58.4% 86.2% Teleservices 9 Advertising 23.0% 20.4% Food and Beverage 1 Car Parking 22.8% 30.5% Banks and Foreign Exchange 2 Food and Beverage 19.6% 26.5% Total Commercial Spaces 31 Car Rental 17.3% 13.6% Duty Free 15.6% 19.5% Retail 15.2% 26.5% Other Revenues 15.0% 25.3% 1 Only includes new stores opened during the period and excludes remodelings or contract renewals. Banks and Foreign Exchange 9.7% 8.6% Total Commercial Revenues 17.3% 25.8% Colombia Costs & Expenses Table 27: Colombia Costs & Expenses In thousands of Mexican pesos Third Quarter % Chg. Nine-Months % Chg. 2024 2025 2024 2025 Cost of Services 185,814 194,290 4.6 513,287 607,847 18.4 Concession Fees 167,677 182,737 9.0 459,155 543,461 18.4 Depreciation and Amortization 109,069 436,683 300.4 307,698 651,760 111.8 Operating Costs and Expenses Excluding Construction Costs 462,560 813,710 75.9 1,280,14 0 1,803,06 8 40.8 Construction Costs 1,200 2,607 117.3 6,264 9,501 51.7 Total Operating Costs & Expenses 463,760 816,317 76.0 1,286,40 4 1,812,56 9 40.9 Figures in pesos at an average exchange rate of COP.21 4.9645 = Ps.1.00 Mexican pesos for 3 Q25 and of COP.211.6693 = Ps.1.00 Mexican pesos for 9M25. Total Operating Costs and Expenses for ASUR’s Colombian airports in 3 Q25 increased 76.0 % YoY to Ps.816.3 million. Excluding construction costs, operating costs and expenses rose 75.9 % to Ps.813.7 million, primarily reflecting higher depreciation and amortization resulting from the adjustment to the concession amortization method. Increases in personnel expenses, security and cleaning services, insurance and surety bonds, concession fees, and professional fees also contributed to higher costs and expenses, partially offset by lower maintenance and conservation reserves. Cost of Services increased 4.6%, or Ps.8.5 million, mainly due to higher personnel expenses, security and cleaning services, insurance and surety bonds, and professional fees, partially offset by a decline in maintenance and conservation reserves. Construction Costs increased by 117.3%, or Ps.1.4 million compared to 3Q24.
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ASUR 3Q25 Page 17 of 25 Concession Fees paid to the Colombian government increased 9.0%, principally reflecting higher regulated and non-regulated revenues compared with the same period last year. Depreciation and Amortization increased 300.4% year -over-year, mainly reflecting a Ps.332.8 million adjustment to the concession amortization method. Colombia Comprehensive Financing Gain (Loss) Table 28: Colombia, Comprehensive Financing Gain (Loss) In thousands of Mexican pesos Third Quarter % Chg. Nine-Months % Chg. 2024 2025 2024 2025 Interest Income 64,327 22,202 (65.5) 189,664 147,719 (22.1) Interest Expense (3,382) (11,874) 251.1 75,759 (49,725) n/a Foreign Exchange Gain (Loss), Net (299) (109) (63.5) (423) (209) (50.6) Total 60,646 10,219 (83.1) 265,000 97,785 (63.1) Figures in pesos at an average exchange rate of COP.214.9645 = Ps.1.00 Mexican pesos for 3Q25 and of COP.211.6693 = Ps.1.00 Mexican pesos for 9M25. During 3Q25, Colombia reported a Comprehensive Financing Gain of Ps.10.2 million, compared to Ps.6 0.6 million in 3Q24. Interest income decreased by 65.5%, or Ps.42.1 million, mainly due to a lower cash position and yields. Interest expense increased Ps.8.5 million YoY, primarily reflecting the benefit from the Ps.10.2 million adjustment to the amortization of the fair value of the loan incurred in connection with the acquisition of the Colombia business recorded in 3Q24, while no fair value amortization was recorded in 3Q25. Colombia Operating Profit (Loss) and EBITDA Table 29: Colombia Profit & EBITDA In thousands of Mexican pesos Third Quarter % Chg. Nine-Months % Chg. 2024 2025 2024 2025 Total Revenue 881,326 960,579 9.0 2,419,303 2,860,043 18.2 Total Revenues Excluding Construction Revenues 880,126 957,972 8.8 2,413,039 2,850,542 18.1 Operating Profit 417,566 144,262 (65.5) 1,132,899 1,047,474 (7.5) Operating Margin 47.4% 15.0% (3236 bps) 46.8% 36.6% (1020 bps) Adjusted Operating Margin1 47.4% 15.1% (3238 bps) 46.9% 36.7% (1020 bps) Net Profit 309,775 (17,524) n/a 895,263 580,444 (35.2) EBITDA 526,635 580,944 10.3 1,440,597 1,699,234 18.0 EBITDA Margin 59.8% 60.5% 72 bps 59.5% 59.4% (13 bps) Adjusted EBITDA Margin2 59.8% 60.6% 81 bps 59.7% 59.6% (9 bps) Figures in pesos at an average exchange rate of COP.214.9645 = Ps.1.00 Mexican pesos for 3Q25 and of COP.211.6693 = Ps.1.00 Mexican pesos for 9M25. 1 Adjusted Operating Margin excludes the effect of IFRIC12 with respect to the construction or improvements to concessioned ass ets, and is equal to operating profit divided by total revenues less construction services revenues. 2 Adjusted EBITDA Margin excludes the effect of IFRIC12 with respect to the construction or improvements to concessioned assets, and is calculated by dividing EBITDA by total revenues less construction services revenues. In 3Q25, ASUR’s operations in Colombia reported an Operating Profit of Ps.144.3 million, compared to Ps.417.6 million in 3Q24, principally reflecting an increase in depreciation and amortization resulting from an Ps.332.8 million adjustment to the concession amortization method . The Operating Margin dec reased to 15.0% in 3Q25, from 47.4% in 3Q24.
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ASUR 3Q25 Page 18 of 25 Adjusted Operating Margin, which excludes the impact of IFRIC 12 with respect to construction or improvements to concessioned assets, declined to 15.1% in 3Q25, from 47.4% in 3Q24. EBITDA for the quarter was Ps.5 80.9 million, resulting in an EBITDA margin of 60.5%, compared to EBITDA of Ps.526.6 million and an EBITDA margin of 59.8% in 3Q24. Adjusted EBITDA Margin, which excludes the effect of IFRIC 12 related to the construction or improvements of concession assets, increased to 60.6% in 3Q25, from 59.8% in 3Q24. Colombia Capital Expenditures During 3Q25, ASUR made capital investments of Ps.3. 0 million in Colombia, compared to Ps.1.2 million in 3Q24. On an accumulated basis, total capex reached Ps.9.9 million, compared to Ps.6.7 million as of 3Q24. Colombia Tariff Regulation The Special Administrative Unit of Civil Aeronautics is responsible for setting, collecting, and enforcing the fees, tariffs, and charges for the provision of aeronautical and airport services, or those generated from concessions, authorizations, licenses, or any other type of revenue or asset. Resolution No. 04530 issued on September 21, 2007, established the tariffs for the fees and charges granted to the concessionaires of José María Córdova Airport in Rionegro, Olaya Herrera in Medellín, Los Garzones in Montería, El Caraño in Quibdó, Antonio Roldán Betancourt in Carepa, and Las Brujas in Corozal. The resolution also sets forth the methodology for updating these tariffs and the mechanisms to collect such fees and tariffs. Regulated revenues amounted to Ps.685.8 million in 3Q25. Definitions Concession Services Agreements (IFRIC 12 interpretation). In Mexico and Puerto Rico, ASUR is required by IFRIC 12 to include in its income statement an income line, “Construction Revenues,” reflecting the revenue from construction of, or improvements to concessioned assets made during the relevant period. The same amount is recognized under the expense line “Construction Costs” because ASUR hires third parties to provide construction services. Because equal amounts of Construction Revenues and Construction Costs have been included in ASUR's income statement as a result of the application of IFRIC 12, the amount of Construction Revenues does not have an impact on EBITDA, but it does have an impact on EBITDA Margin. In Colombia, “Construction Revenues” include the recognition of the revenue to which the concessionaire is entitled for carrying out the infrastructure works in the development of the concession, while “Construction Costs” represents the actual costs incurred in the execution of such additions or improvements to the concessioned assets. Majority Net Income reflects ASUR’s equity interests in each of its subsidiaries and therefore excludes the 40% interest in Aerostar that is owned by other shareholders. Other than Aerostar, ASUR owns (directly or indirectly) 100% of its subsidiaries. EBITDA means net income before provision for taxes, deferred taxes, profit sharing, non -ordinary items, participation in the results of associates, comprehensive financing cost, and depreciation and amortization. EBITDA should not be considered as an alternative to net income, as an indicator of our operating performance, as an alternative to cash flow or as an indicator of liquidity. Our management believes that EBITDA provides a useful measure that is widely used by investors and analysts to evaluate our performance and compare it with other companies. EBITDA is not defined under U.S. GAAP or IFRS and may be calculated differently by different companies. Adjusted EBITDA Margin is calculated by dividing EBITDA by total revenues excluding construction services revenues for Mexico, Puerto Rico, and Colombia and excludes the effect of IFRIC 12 with respect to the construction of, or improvements to concessioned assets. ASUR is required by IFRIC 12 to include in its income statement an income line reflecting the revenue from construction of, or improvements to concessioned assets made during the relevant period. The same amount is recognized under the expense line “Construction Costs” because ASUR hires third parties to provide construction services. In Mexico and Puerto Rico, because equal amounts of Construction Revenues and Construction Costs have been included in ASUR's income statement as a result of the application of IFRIC 12, the amount of Construction Revenues does not
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ASUR 3Q25 Page 19 of 25 have an impact on EBITDA, but it does have an impact on EBITDA Margin, as the increase in revenues that relates to Construction Revenues does not result in a corresponding increase in EBITDA. In Colombia, construction revenues do have an impact on EBITDA, as construction revenues include a reasonable margin over the actual cost of construction. Like EBITDA Margin, Adjusted EBITDA Margin should not be considered as an indicator of our operating performance, as an alternative to cash flow or as an indicator of liquidity and is not defined under U.S. GAAP or IFRS and may be calculated differently by different companies. About ASUR Grupo Aeroportuario del Sureste, S.A.B. de C.V. (ASUR) is a leading international airport operator with a portfolio of concessions to operate, maintain, and develop 16 airports in the Americas. These comprise nine airports in southeast Mexico, including Cancun Airport, the most important tourist destination in Mexico, the Caribbean, and Latin America, and six airports in northern Colombia, including José María Córdova International Airport (Rionegro), the second busiest airport in Colombia. ASUR is also a 60% JV partner in Aerostar Airport Holdings, LLC, operator of the Luis Muñoz Marín International Airport serving the capital of Puerto Rico, San Juan. San Juan’s Airport is the island’s primary gateway for international and mainland -US destinations and was the first and currently the only major airport in the US to have successfully completed a public–private partnership under the FAA Pilot Program. Headquartered in Mexico, ASUR is listed both on the Mexican Bolsa, where it trades under the symbol ASUR, and on the NYSE in the U.S., where it trades under the symbol ASR. One ADS represents ten (10) series B shares. For more information, visit www.asur.com.mx Analyst Coverage In accordance with Article 4.033.01 of the Mexican Stock Exchange Internal Rules, ASUR reports that the stock is covered by the following broker -dealers: Actinver, Banorte, Barclays, BBVA, BofA Merrill Lynch, Bradesco, BTG Pactual, Citi Global Markets, GBM Grupo Bursatil, Goldman Sachs, HSBC Securities, Insight Investment Research, Itau BBA Securities, Jefferies, JP Morgan, Punto Research, Santander, Scotiabank, UBS Casa de Bolsa and Vector. Please note that any opinions, estimates or forecasts with respect to the performance of ASUR issued by these analysts reflect their own views, and therefore do not represent the opinions, estimates or forecasts of ASUR or its management. Although ASUR may refer to or distribute such statements, this does not imply that ASUR agrees with or endorses any information, conclusions or recommendations included therein. Forward Looking Statements Some of the statements contained in this press release discuss future expectations or state other forward - looking information. Those statements are subject to risks identified in this press release and in ASUR’s filings with the SEC. Actual developments could differ significantly from those contemplated in these forward -looking statements. The forward -looking information is based on various factors and was derived using numerous assumptions. Our forward-looking statements speak only as of the date they are made and, except as may be required by applicable law, we do not have an obligation to update or revise them, whether as a result of new information, future or otherwise. Contacts: ASUR Adolfo Castro +52-55-5284-0408 acastro@asur.com.mx InspIR Group Susan Borinelli +1-646-330-5907 susan@inspirgroup.com - SELECTED OPERATING TABLES & FINANCIAL STATEMENTS FOLLOW –
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ASUR 3Q25 Page 20 of 25 Passenger Traffic Breakdown by Airport Mexico Passenger Traffic 1 Third Quarter % Chg Nine - Months % Chg 2024 2025 2024 2025 Domestic Traffic 5,255,435 5,162,613 (1.8) 14,767,525 14,678,566 (0.6) CUN Cancun 2,789,025 2,639,317 (5.4) 7,653,937 7,457,990 (2.6) CZM Cozumel 64,134 73,282 14.3 182,858 197,151 7.8 HUX Huatulco 183,825 173,243 (5.8) 539,971 496,549 (8.0) MID Merida 862,495 925,113 7.3 2,461,397 2,581,726 4.9 MTT Minatitlan 39,283 39,653 0.9 106,053 114,288 7.8 OAX Oaxaca 384,293 402,036 4.6 1,125,579 1,173,376 4.2 TAP Tapachula 151,231 120,112 (20.6) 450,659 371,824 (17.5) VER Veracruz 408,120 440,709 8.0 1,155,154 1,256,008 8.7 VSA Villahermosa 373,029 349,148 (6.4) 1,091,917 1,029,654 (5.7) International Traffic 4,369,475 4,357,118 (0.3) 16,547,435 15,802,831 (4.5) CUN Cancun 4,086,010 4,075,087 (0.3) 15,459,648 14,738,867 (4.7) CZM Cozumel 67,132 57,264 (14.7) 376,282 295,367 (21.5) HUX Huatulco 5,396 4,371 (19.0) 105,301 101,377 (3.7) MID Mérida 86,426 90,403 4.6 275,022 294,748 7.2 MTT Minatitlan 2,239 2,069 (7.6) 5,633 5,608 (0.4) OAX Oaxaca 68,515 64,292 (6.2) 183,913 197,496 7.4 TAP Tapachula 3,403 6,091 79.0 9,853 18,374 86.5 VER Veracruz 42,367 43,304 2.2 106,823 115,410 8.0 VSA Villahermosa 7,987 14,237 78.3 24,960 35,584 42.6 Total Traffic Mexico 9,624,910 9,519,731 (1.1) 31,314,960 30,481,397 (2.7) CUN Cancun 6,875,035 6,714,404 (2.3) 23,113,585 22,196,857 (4.0) CZM Cozumel 131,266 130,546 (0.5) 559,140 492,518 (11.9) HUX Huatulco 189,221 177,614 (6.1) 645,272 597,926 (7.3) MID Merida 948,921 1,015,516 7.0 2,736,419 2,876,474 5.1 MTT Minatitlan 41,522 41,722 0.5 111,686 119,896 7.4 OAX Oaxaca 452,808 466,328 3.0 1,309,492 1,370,872 4.7 TAP Tapachula 154,634 126,203 (18.4) 460,512 390,198 (15.3) VER Veracruz 450,487 484,013 7.4 1,261,977 1,371,418 8.7 VSA Villahermosa 381,016 363,385 (4.6) 1,116,877 1,065,238 (4.6) US Passenger Traffic, San Juan Airport (LMM) Third Quarter % Chg Nine - Months % Chg 2024 2025 2024 2025 SJU Total 1 3,316,577 3,354,150 1.1 10,047,837 10,543,332 4.9 Domestic Traffic 2,882,815 2,869,504 (0.5) 8,891,739 9,220,652 3.7 International Traffic 433,762 484,646 11.7 1,156,098 1,322,680 14.4 Colombia, Passenger Traffic Airplan Third Quarter % Chg Nine - Months % Chg 2024 2025 2024 2025 Domestic Traffic 3,352,638 3,379,292 0.8 9,551,303 9,631,323 0.8 MDE Medellín (Rio Negro) 2,545,646 2,553,166 0.3 7,153,886 7,283,377 1.8 EOH Medellín 310,736 327,419 5.4 909,606 889,318 (2.2) MTR Montería 355,256 345,282 (2.8) 1,076,651 1,026,858 (4.6) APO Carepa 44,468 47,187 6.1 132,117 133,023 0.7 UIB Quibdó 82,415 94,308 14.4 248,976 258,989 4.0 CZU Corozal 14,117 11,930 (15.5) 30,067 39,758 32.2 International Traffic 962,300 1,070,308 11.2 2,666,878 3,004,073 12.6 MDE Medellín (Rio Negro) 962,300 1,070,308 11.2 2,666,878 3,004,073 12.6 EOH Medellín - - MTR Montería - - APO Carepa - - UIB Quibdó - - CZU Corozal - - Total Traffic Colombia 4,314,938 4,449,600 3.1 12,218,181 12,635,396 3.4 MDE Medellín (Rio Negro) 3,507,946 3,623,474 3.3 9,820,764 10,287,450 4.8 EOH Medellín 310,736 327,419 5.4 909,606 889,318 (2.2) MTR Montería 355,256 345,282 (2.8) 1,076,651 1,026,858 (4.6) APO Carepa 44,468 47,187 6.1 132,117 133,023 0.7 UIB Quibdó 82,415 94,308 14.4 248,976 258,989 4.0 CZU Corozal 14,117 11,930 (15.5) 30,067 39,758 32.2 1 Passenger figures for Mexico and Colombia exclude transit and general aviation passengers, and SJU include transit passengers and general aviation.
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ASUR 3Q25 Page 21 of 25 Grupo Aeroportuario del Sureste, S.A.B. de C.V. Commercial Spaces ASUR Retail and Other Commercial Space Opened since September 30, 2024 1 Business Name Type Opening Date MEXICO Mérida Consorcio Operador Almond, SA de CV Car Rental March 2025 Rubicela Ortiz Lopez Retail February 2025 Superfarmacia check 2013, SA de CV Retail June 2025 Tiendas Tropicales, SA de CV Retail June 2025 LL Mex, SA de CV Car Rental September 2025 Globo Cambio Banks and foreign exchange September 2025 SAN JUAN, PUERTO RICO Rum Boutique Duty free December 2024 Gustos Café Food and Beverage March 2025 Tech on the Go by Dufry Duty free May 2025 Cavu Retail June 2025 Coco Santa Retail July 2025 Casita Kikuet Food and Beverage July 2025 Dufry Arrival Store Duty free August 2025 Casita Kikuet Food and Beverage September 2025 COLOMBIA Rionegro Itaú Colombia S.A. Banks and foreign exchange October 2024 Señora del Rosario y amigos en cia S.A.S. Food and Beverage October 2024 United Airlines Inc Other Revenues October 2024 United Airlines Inc Other Revenues October 2024 Santillana de Seguridad Vigilancia Privada ltda Other Revenues Mach 2025 Consorcio Aeropuerto cj Other Revenues Mach 2025 Eurona Telecom Colombia S.A.S. Teleservices April 2025 Ghi Giraldo Hermanos international S.A.S. Other Revenues April 2025 Aerovias del Continente Americano S.A. Other Revenues July 2025 Olaya herrera Aero Ambulancias S.A.S. Other Revenues January 2025 Fondo de Valorización del Municipio de Medellín Other Revenues February 2025 Globo Cambio Foreign Exchange S.A.S. Banks and foreign exchange March 2025 Consorcio Aeropuerto cj Other Revenues Mach 2025 Eurona Telecom Colombia S.A.S. Teleservices April 2025 Departamento de Antioquia Other Revenues June 2025 Montería Phoenix Tower International Colombia ltda Teleservices December 2024 Jetsmart Airlines S.A.S. Other Revenues December 2024 Consorcio Aeropuerto cj Other Revenues March 2025 Eurona Telecom Colombia S.A.S. Teleservices April 2025 Corozal Consorcio Aeropuerto cj Other Revenues March 2025 Eurona Telecom Colombia S.A.S. Teleservices April 2025 Quibdó Aerovias del Continente Americano S.A. Avianca Other Revenues December 2024 Inversiones Aereas Inversa S.A.S Other Revenues November 2024 Icetex Other Revenues January 2025 Azteca Comunicaciones Colombia S.A.S. Teleservices February 2025 Consorcio Aeropuerto cj Other Revenues March 2025 Eurona Telecom Colombia S.A.S. Teleservices April 2025 Eurona Telecom Colombia S.A.S. Teleservices April 2025 Carepa Moon Flights S.A.S. Other Revenues October 2024 Consorcio Aeropuerto cj Other Revenues March 2025 Eurona Telecom Colombia S.A.S. Teleservices April 2025 * Only includes new stores opened during the period and excludes remodelings or contract renewals.
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ASUR 3Q25 Page 22 of 25 Item 3Q 2024 3Q 2024 Per Workload Unit 3Q 2025 3Q 2025 Per Workload Unit YoY % Chg. Per Workload Unit YoY % Chg. Mexico Cancun 1 Aeronautical Revenues 2,439,789 350.6 2,388,603 349.9 (2.1) ( 0.2) Non-Aeronautical Revenues 1,456,474 209.3 1,377,508 201.8 (5.4) ( 3.6) Construction Services Revenues 330,762 47.5 1,163,194 170.4 251.7 258. 7 Total Revenues 4,227,025 607.4 4,929,305 722.1 16.6 18. 9 Operating Profit 2,399,664 344.9 2,481,770 363.5 3.4 5 .4 EBITDA 2,584,524 371.4 2,669,591 391.0 3.3 5.3 Merida Aeronautical Revenues 292,302 388.7 315,463 291.0 7.9 ( 25.1) Non-Aeronautical Revenues 65,791 87.5 73,998 68.3 12.5 ( 21.9) Construction Services Revenues 22,526 30.0 65,200 60.1 189.4 100. 3 Other 2 25 - 32 - 28.0 n/a Total Revenues 380,644 506.2 454,693 419.4 19.5 ( 17.1) Operating Profit 188,973 251.3 214,246 197.6 13.4 ( 21.4) EBITDA 224,723 298.8 253,990 234.3 13.0 (21.6) Villahermosa Aeronautical Revenues 121,285 290.9 116,731 309.6 (3.8) 6 .4 Non-Aeronautical Revenues 21,817 52.3 20,055 53.2 (8.1) 1 .7 Construction Services Revenues 9,648 23.1 16,422 43.6 70.2 88. 7 Other 2 24 0.1 20 0.1 ( 16.7) - Total Revenues 152,774 366.4 153,228 406.5 0.3 10. 9 Operating Profit 77,088 184.9 71,125 188.7 (7.7) 2 .1 EBITDA 89,965 215.7 85,010 225.5 (5.5) 4.5 Other Airports 3 Aeronautical Revenues 467,682 135.5 485,487 333.9 3.8 146. 4 Non-Aeronautical Revenues 71,250 20.6 69,343 47.7 (2.7) 131. 6 Construction Services Revenues 87,075 25.2 387,085 266.2 344.5 956. 3 Other 2 62 - 71 - 14.5 n/a Total Revenues 626,069 181.3 941,986 647.8 50.5 257. 3 Operating Profit 278,397 80.6 275,115 189.2 (1.2) 134. 7 EBITDA 344,239 99.7 347,889 239.3 1.1 140.0 Holding & Service Companies 4 Construction Services Revenues - n/a - n/a n/a n/a Other 2 398,076 n/a 151,532 n/a ( 61.9) n/a Total Revenues 398,076 n/a 151,532 n/a (61.9) n/ a Operating Profit 392,004 n/a 139,620 n/a (64.4) n /a EBITDA 392,007 n/a 139,623 n/a (64.4) n/a Consolidation Adjustment Mexico Consolidation Adjustment (398,187) n/a (151,655) n/a (61.9) n /a Total Mexico Aeronautical Revenues 3,321,058 286.8 3,306,284 339.4 (0.4) 18. 3 Non-Aeronautical Revenues 1,615,332 139.5 1,540,904 158.2 (4.6) 13. 4 Construction Services Revenues 450,011 38.9 1,631,901 167.5 262.6 330. 6 Total Revenues 5,386,401 465.2 6,479,089 665.1 20.3 43. 0 Operating Profit 3,336,126 288.1 3,181,876 326.6 (4.6) 13. 4 EBITDA 3,635,458 314.0 3,496,103 358.9 (3.8) 14.3 San Juan Puerto Rico, US 5 Aeronautical Revenues 557,791 n/a 585,911 n/a 5.0 n /a Non-Aeronautical Revenues 508,195 n/a 561,956 n/a 10.6 n /a Construction Services Revenues 149,580 n/a 177,915 n/a 18.9 n /a Total Revenues 1,215,566 n/a 1,325,782 n/a 9.1 n/ a Operating Profit 343,482 n/a 368,805 n/a 7.4 n /a EBITDA 538,280 n/a 562,321 n/a 4.5 n/a Consolidation Adjustment San Juan Consolidation Adjustment - n/a - n/a n/a n/a Colombia 6 Aeronautical Revenues 648,231 n/a 685,818 n/a 5.8 n /a Non-Aeronautical Revenues 231,895 n/a 272,154 n/a 17.4 n /a Construction Services Revenues 1,200 n/a 2,607 n/a 117.3 n /a Total Revenues 881,326 n/a 960,579 n/a 9.0 n/ a Operating Profit 417,566 n/a 144,262 n/a (65.5) n /a EBITDA 526,635 n/a 580,944 n/a 10.3 n/a Consolidation Adjustment Colombia Consolidation Adjustment - n/a - n/a n/a n/a CONSOLIDATED ASUR Aeronautical Revenues 4,527,080 n/a 4,578,013 n/a 1.1 n /a Non-Aeronautical Revenues 2,355,422 n/a 2,375,014 n/a 0.8 n /a Construction Services Revenues 600,791 n/a 1,812,423 n/a 201.7 n /a Total Revenues 7,483,293 n/a 8,765,450 n/a 17.1 n/ a Operating Profit 4,097,174 n/a 3,694,943 n/a (9.8) n /a EBITDA 4,700,373 n/a 4,639,368 n/a (1.3) n/a 1 Reflects the results of operations of Cancun Airport and two Cancun Airport Services subsidiaries on a consolidated basis. 2 Reflects revenues under intercompany agreements which are eliminated in the consolidation adjustment. 3 Reflects the results of operations of our airports located in Cozumel, Huatulco, Minatitlan, Oaxaca, Tapachula and Veracruz. Grupo Aeroportuario del Sureste, S.A.B. de C.V. Operating Results per Airport Thousands of Mexican Pesos 6 Reflects the results of operation of Airplan, Colombia, for 3Q25. 4 Reflects the results of operations of our parent holding company and our services subsidiaries. Because none of these entities hold the concessions for our airports, we do not report workload unit data for theses entities. 5 Reflects the results of operation of San Juan Airport, Puerto Rico, US for 3Q25.
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ASUR 3Q25 Page 23 of 25 Grupo Aeroportuario del Sureste, S.A.B. de C.V. Consolidated Statements of Financial Position as of September 30, 2025 and December 31, 2024 Thousands of Mexican Pesos Item September 2025 December 2024 Variation % Assets Current Assets Cash and Cash Equivalents 16,259,294 20,083,457 (3,824,163) (19.0) Cash and cash Equivalents Restricted 1,965,874 2,043,625 (77,751) (3.8) Accounts Receivable, net 1,504,580 2,804,341 (1,299,761) (46.3) Document Receivable 100,696 100,696 - - Recoverable Taxes and Other Current Assets 1,524,982 623,892 901,090 144.4 Total Current Assets 21,355,426 25,656,011 (4,300,585) (16.8) Non Current Assets Investment in Financial Instrument - 1,537,688 (1,537,688) n/a Machinery, Furniture and Equipment, net 251,344 268,450 (17,106) (6.4) Intangible assets, Airport Concessions and Goodwill-Net 54,928,587 55,886,163 (957,576) (1.7) investment Accounted by the Equity Metod 285,255 288,440 (3,185) (1.1) Total Assets 76,820,612 83,636,752 (6,816,140) (8.1) Liabilities and Stockholders' Equity Current Liabilities Trade Accounts Payable 272,582 325,701 (53,119) (16.3) Bank Loans and Short Term Debt 334,138 1,131,530 (797,392) (70.5) Accrued Expenses and Others Payables 7,318,325 4,429,775 2,888,550 65.2 Total Current Liabilities 7,925,045 5,887,006 2,038,039 34.6 Long Term Liabilities Bank Loans 12,281,504 2,163,853 10,117,651 467.6 Long Term Debt 8,616,232 10,064,073 (1,447,841) (14.4) Deferred Income Taxes 3,804,716 3,852,813 (48,097) (1.2) Employee Benefits 59,015 56,382 2,633 4.7 Total Long Term Liabilities 24,761,467 16,137,121 8,624,346 53.4 Total Liabilities 32,686,512 22,024,127 10,662,385 48.4 Stockholders' Equity Capital Stock 7,767,276 7,767,276 - - Legal Reserve 2,542,227 2,542,227 - - Mayority Net Income for the Period 7,775,190 13,551,429 (5,776,239) (42.6) Cumulative Effect of Conversion of Foreign Currency (645,363) 391,485 (1,036,848) (265) Retained Earnings 19,511,934 29,960,505 (10,448,571) (34.9) Non- Controlling interests 7,182,836 7,399,703 (216,867) (2.9) Total Stockholders' Equity 44,134,100 61,612,625 (17,478,525) (28.4) Total Liabilities and Stockholders' Equity 76,820,612 83,636,752 (6,816,140) (8.1) Exchange Rate per Dollar Ps. 18.3342
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ASUR 3Q25 Page 24 of 25 Grupo Aeroportuario del Sureste, S.A.B. de C.V. Consolidated Statement of Income from January 1 to September 30, 2025 and 2024 Thousands of Mexican Pesos Item 9M 9M % 3Q 3Q % 2024 2025 Chg 2024 2025 Chg Revenues Aeronautical Services 13,784,659 14,597,469 5.9 4,527,080 4,578,013 1.1 Non-Aeronautical Services 7,370,287 7,960,438 8.0 2,355,422 2,375,014 0.8 Construction Services 1,157,264 3,710,450 220.6 600,791 1,812,423 201.7 Total Revenues 22,312,210 26,268,357 17.7 7,483,293 8,765,450 17.1 Operating Expenses Cost of Services 3,982,269 4,484,004 12.6 1,387,421 1,508,248 8.7 Cost of Construction 1,157,264 3,710,450 220.6 600,791 1,812,423 201.7 General and Administrative Expenses 224,879 266,328 18.4 65,107 87,273 34.0 Technical Assistance 299,573 302,634 1.0 92,979 89,198 (4.1) Concession Fee 1,916,714 2,119,571 10.6 638,298 632,471 (0.9) Depreciation and Amortization 1,712,190 2,176,593 27.1 601,523 940,894 56.4 Total Operating Expenses 9,292,889 13,059,580 40.5 3,386,119 5,070,507 49.7 Other Revenues - - - - - - Operating Income 13,019,321 13,208,777 1.5 4,097,174 3,694,943 (9.8) Comprehensive Financing Cost 2,072,369 (1,570,162) (175.8) 906,473 (472,087) (152.1) Income from investment results Accounted by the Equity Method (5,492) (3,185) (42.0) (986) (1,785) 81.0 Income Before Income Taxes 15,086,198 11,635,430 (22.9) 5,002,661 3,221,071 (35.6) Provision for Income Tax 4,047,573 3,392,097 (16.2) 1,368,257 967,711 (29.3) Deferred Income Taxes 597,904 123,581 (79.3) 159,850 42,009 (73.7) Net Income for the Year 10,440,721 8,119,752 (22.2) 3,474,554 2,211,351 (36.4) Majority Net Income 10,136,848 7,775,190 (23.3) 3,381,190 2,114,592 (37.5) Non-Controlling Interests 303,873 344,562 13.4 93,364 96,759 3.6 Earning per Share 33.7895 25.9173 (23.3) 11.2706 7.0486 (37.5) Earning per American Depositary Share (in U.S. Dollars) 18.4298 14.1360 (23.3) 6.1473 3.8445 (37.5) Exchange Rate per Dollar Ps. 18.3342
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ASUR 3Q25 Page 25 of 25 9M 9M % 3Q 3Q % 2024 2025 Chg 2024 2025 Chg Operating Activities Income Before Income Taxes 15,086,198 11,635,430 (22.9) 5,002,661 3,221,071 (35.6) Depreciation and Amortization 1,712,190 2,176,593 27.1 601,523 940,894 56.4 Income from investment results Accounted by the Equity Method 5,492 3,185 (42.0) 986 1,785 81.0 Interest Income (1,264,930) (1,200,016) ( 5.1) (483,133) (352,334) (27.1) Interest Payables 591,859 1,019,786 72.3 230,360 445,671 93.5 Foreign Exchange Gain (loss), net unearned (1,352,580) 1,486,057 n/a (723,617) 1,242,022 n/a Sub-Total 14,778,229 15,121,035 2.3 4,628,780 5,499,109 18.8 Trade Receivables 258,865 1,852,832 615.8 310,811 969,033 211.8 Recoverable Taxes and other Current Assets (465,427) 1,000,388 n/a (56,143) (45,430) (19.1) Income Tax Paid (3,643,457) (5,403,616) 48.3 (1,092,722) (1,140,856) 4.4 Trade Accounts Payable 178,103 (2,058,041) n/a 4,569 (765,789) n/a Net Cash Flow Provided by Operating Activities 11,106,313 10,512,598 (5.3) 3,795,295 4,516,067 19.0 Investing Activities Investment in Financial Instrument 343,100 1,537,688 348.2 (174,713) n/a Restricted Cash (57,657) (169,641) 194.2 (48,669) (62,923) 29.3 Investments in Machinery, Furniture and Equipment, net (1,861,764) (3,908,508) 109.9 (1,042,400) (1,872,758) 79.7 Interest Income 1,163,831 1,199,006 3.0 443,488 352,120 (20.6) Net Cash Flow used by Investing Activities (412,490) (1,341,455) 225.2 (822,294) (1,583,561) 92.6 Excess Cash to Use in Financing Activities 10,693,823 9,171,143 (14.2) 2,973,001 2,932,506 (1.4) Bank Loans 9,500,000 n/a Bank Loans Paid (538,712) n/a Long Term Debt Paid (224,914) (263,130) 17.0 (126,988) (129,557) 2.0 Interest Paid (844,776) (1,099,684) 30.2 (385,257) (590,636) 53.3 Dividends Paid (6,277,800) (19,500,000) 210.6 (4,500,000) n/a Net Cash Flow used by Financing Activities (7,886,202) (11,362,814) 44.1 (512,245) (5,220,193) 919.1 Net Increase in Cash and Cash Equivalents 2,807,621 (2,191,671) n/a 2,460,756 (2,287,687) n/a Cash and Cash Equivalents at Beginning of Period 13,872,897 20,083,457 44.8 14,996,995 19,815,869 32.1 Exchange Gain on Cash and Cash Equivalents 1,803,083 (1,632,492) n/a 1,025,850 (1,268,888) n/a Cash and Cash Equivalents at the End of Period 18,483,601 16,259,294 (12.0) 18,483,601 16,259,294 (12.0) Grupo Aeroportuario del Sureste, S.A.B. de C.V. Consolidated Statement of Cash flow for the periods of January 1, to September 30, 2025 an 2024. Thousands of Mexican Pesos Item