Earnings release
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ASUR 4Q25 Page 1 of 26 4Q25 Earnings Call Day: Wednesday, February 25, 2026, at 9:00 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: 13758364. Please dial in 10 minutes before the scheduled start time. Replay: Wednesday, February 25, 2026, at 2:00 PM ET, ending at 11:59 PM ET on Wednesday, March 4, 2026. Dial-in: +1 844 512 2921 (U.S. Toll- Free); +1 412 317 6671 (International). Access Code: 13758364 ASUR ANNOUNCES 4Q25 RESULTS Passenger traffic increased by 5.7% in Colombia and 0.1% in Mexico; and decreased by 3.1% in Puerto Rico Mexico City, February 24, 2026 - 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 twelve-month periods ended December 31, 2025. 4Q25 Highlights1 • Total passenger traffic increased 0.9% YoY ("YoY"). By country of operations, passenger traffic showed the following YoY variations: o Mexico: increased 0.1%, as a 0.7% increase in international traffic offset a 0.5% decrease in domestic traffic. o Puerto Rico (Aerostar): decreased 3.1%, as a 4.2% decrease in domestic traffic more than offset a 5.0% increase in international traffic. o Colombia (Airplan): increased 5.7%, reflecting increases of 9.6% and 4.6% in international and domestic traffic, respectively. • Revenues increased 21.6% YoY to Ps.10,969.1 million. Excluding construction services, revenues remained flat YoY. • Commercial revenue per passenger increased 1.1% YoY to Ps.131.7 • Consolidated EBITDA decreased 4.8% YoY to Ps.4,867.1 million. • Adjusted EBITDA margin (excluding IFRIC 12 effect) decreased to 66.4% from 69.7% in 4Q24. • Cash position of Ps.11,116.3 million at December 31, 2025, with Debt to LTM Adjusted EBITDA at 0.8x. • On December 11, 2025, ASUR completed the acquisition of its ASUR US airport retail concessions at key terminals within John F. Kennedy International Airport, Los Angeles International Airport and Chicago O’Hare International Airport. From the acquisition date through December 31, 2025, these operations contributed revenues of Ps.133.1 million and EBITDA of Ps.86.1 million. 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$1.00 = Ps.18.0012 (source: Diario Oficial de la Federación de México) while Colombian peso figures are calculated at an exchange rate of COP.209.3700 = Ps.1.00 (source: Investing). Definitions for EBITDA, Adjusted EBITDA Margin, and Majority Net Income can be found on page 18 of this report. Table 1: Financial and Operating Highlights1 Fourth Quarter % Chg. 2024 2025 Financial Highlights Total Revenue 9,020,577 10,969,074 21.6 Mexico 6,707,511 8,582,210 27.9 San Juan 1,384,247 1,423,049 2.8 Colombia 928,819 963,815 3.8 Commercial Revenues per PAX 130.2 131.7 1.1 Mexico 158.5 159.0 0.3 San Juan 153.9 159.4 3.6 Colombia 50.4 56.4 12.0 EBITDA 5,111,286 4,867,127 (4.8) Net Income 3,589,717 2,804,945 (21.9) Majority Net Income 3,414,581 2,713,713 (20.5) Earnings per Share (in pesos) 11.3819 9.0457 (20.5) Earnings per ADS (in US$) 6.3229 5.0251 (20.5) Capex 2,532,698 3,899,344 54.0 Cash & Cash Equivalents 20,083,457 11,116,335 (44.6) Net Debt (6,724,001) 16,370,228 (343.5) Net Debt/ LTM EBITDA (0.3) 0.8 (338.5) Operational Highlights Passenger Traffic Mexico 10,105,370 10,114,332 0.1 San Juan 3,199,545 3,100,354 (3.1) Colombia 4,433,379 4,684,968 5.7
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ASUR 4Q25 Page 2 of 26 Passenger Traffic During 4Q24, ASUR’s total passenger traffic increased 0.9% YoY to 17.9 million passengers. In Mexico, total passenger traffic increased 0.1% YoY to 10.1 million in 4Q25, reflecting increases of 0.7% in international traffic which offset a 0.5% decrease in domestic traffic. Total passenger traffic in Puerto Rico decreased 3.1 % YoY to 3. 1 million, a decrease of 4.2% in domestic traffic which offset an increase of 5.0% in international traffic. In Colombia, total passenger traffic increased 5.7 % YoY to 4.7 million passengers, resulting from increases of 9.6% in international traffic and 4.6% 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 Fourth Quarter % Chg. Twelve-Months % Chg. 2024 2025 2024 2025 Total México 10,105,370 10,114,332 0.1 41,420,330 40,595,729 (2.0) - Cancun 7,297,935 7,148,681 (2.0) 30,411,520 29,345,538 (3.5) - 8 Other Airports 2,807,435 2,965,651 5.6 11,008,810 11,250,191 2.2 Domestic Traffic 5,041,425 5,017,120 (0.5) 19,808,950 19,695,686 (0.6) - Cancun 2,582,308 2,422,994 (6.2) 10,236,245 9,880,984 (3.5) - 8 Other Airports 2,459,117 2,594,126 5.5 9,572,705 9,814,702 2.5 International traffic 5,063,945 5,097,212 0.7 21,611,380 20,900,043 (3.3) - Cancun 4,715,627 4,725,687 0.2 20,175,275 19,464,554 (3.5) - 8 Other Airports 348,318 371,525 6.7 1,436,105 1,435,489 0.0 Total San Juan, Puerto Rico 3,199,545 3,100,354 (3.1) 13,247,382 13,643,686 3.0 Domestic Traffic 2,805,734 2,687,006 (4.2) 11,697,473 11,907,658 1.8 International traffic 393,811 413,348 5.0 1,549,909 1,736,028 12.0 Total Colombia 4,433,379 4,684,968 5.7 16,651,560 17,320,364 4.0 Domestic Traffic 3,453,475 3,611,178 4.6 13,004,778 13,242,501 1.8 International traffic 979,904 1,073,790 9.6 3,646,782 4,077,863 11.8 Total traffic 17,738,294 17,899,654 0.9 71,319,272 71,559,779 0.3 Domestic Traffic 11,300,634 11,315,304 0.1 44,511,201 44,845,845 0.8 International traffic 6,437,660 6,584,350 2.3 26,808,071 26,713,934 (0.4) 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 Región JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TOTAL Mexico (4.1%) (7.5%) (3.0%) 0.5% (3.0%) (2.8%) 2.0% (1.6%) (4.5%) (0.2%) 1.0% (0.4%) (2.0%) Domestic Traffic (0.7%) (2.9%) 1.1% 5.1% (0.4%) (2.1%) 0.4% (2.6%) (3.1%) (0.5%) (0.1%) (0.8%) (0.6%) International Traffic (6.5%) (10.6%) (5.7%) (3.3%) (5.6%) (3.4%) 3.7% (0.4%) (6.5%) 0.1% 2.1% (0.1%) (3.3%) Puerto Rico 9.3% 8.6% 13.7% 13.5% 1.3% (3.3%) (1.9%) 4.6% 1.6% (1.7%) (2.9%) (4.2%) 3.0% Domestic Traffic 8.0% 7.5% 13.8% 11.6% 0.2% (5.1%) (3.5%) 3.3% (0.5%) (3.6%) (4.0%) (4.8%) 1.8% International Traffic 20.5% 19.2% 12.0% 29.6% 10.5% 9.2% 8.0% 13.7% 16.1% 10.8% 5.1% 0.3% 12.0% Colombia 12.3% 3.3% 3.1% 4.8% (3.4%) 1.7% 3.5% 2.7% 3.2% 5.1% 5.9% 6.0% 4.0% Domestic Traffic 8.7% 1.1% 1.6% 2.0% (6.1%) (1.4%) 1.2% (0.2%) 1.4% 2.5% 5.1% 5.9% 1.8% International Traffic 24.2% 11.3% 8.4% 15.6% 6.7% 13.3% 10.7% 12.8% 10.0% 14.8% 8.7% 6.3% 11.8% Total 1.7% (2.6%) 1.2% 3.8% (2.2%) (1.8%) 1.5% 0.6% (1.4%) 1.0% 1.5% 0.4% 0.3% Domestic Traffic 4.3% 1.1% 4.9% 5.9% (1.9%) (2.8%) (0.5%) (0.5%) (1.2%) (0.2%) 0.5% 0.1% 0.8% International Traffic (1.8%) (7.2%) (3.6%) 0.5% (2.9%) (0.1%) 5.1% 2.9% (1.9%) 3.3% 3.2% 0.8% (0.4%)
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ASUR 4Q25 Page 3 of 26 Review of Consolidated Results Table 4: Summary of Consolidated Results Fourth Quarter % Chg Twelve - Months % Chg 2024 2025 2024 2025 Total Revenues 9,020,577 10,969,074 21.6 31,332,787 37,237,431 18.8 Aeronautical Services 4,804,502 4,790,391 (0.3) 18,589,161 19,387,860 4.3 Non-Aeronautical Services 2,525,040 2,538,825 0.5 9,895,327 10,499,263 6.1 Total Revenues Excluding Construction Revenues 7,329,542 7,329,216 0.0 28,484,488 29,887,123 4.9 Construction Revenues 1,691,035 3,639,858 115.2 2,848,299 7,350,308 158.1 Total Operating Expenses w/out Construction 2,829,057 3,544,108 25.3 10,964,682 12,893,238 17.6 Total Operating Costs & Expenses 4,520,092 7,183,966 58.9 13,812,981 20,243,546 46.6 Other Revenues 0 0 0.0 - - 0.0 Operating Profit 4,500,485 3,785,108 (15.9) 17,519,806 16,993,885 (3.0) Operating Margin 49.9% 34.5% (1538 bps) 55.9% 45.6% (1028 bps) Adjusted Operating Margin 1 61.4% 51.6% (976 bps) 61.5% 56.9% (465 bps) EBITDA 5,111,286 4,867,127 (4.8) 19,844,473 20,256,252 2.1 EBITDA Margin 56.7% 44.4% (1229 bps) 63.3% 54.4% (894 bps) Adjusted EBITDA Margin 2 69.7% 66.4% (333 bps) 69.7% 67.8% (189 bps) Net income 3,589,717 2,804,945 (21.9) 14,030,438 10,924,697 (22.1) Net income majority 3,414,581 2,713,713 (20.5) 13,551,429 10,488,903 (22.6) Earnings per Share 11.3819 9.0457 (20.5) 45.1714 34.9630 (22.6) Earnings per ADS in US$ 6.3229 5.0251 (20.5) 25.0936 19.4226 (22.6) Total Commercial Revenues per Passenger 3 130.2 131.7 1.1 127.0 135.3 6.6 Commercial Revenues 2,332,849 2,382,161 2.1 9,143,313 9,788,844 7.1 Commercial Revenues from Direct Operations per Passenger 4 26.5 27.0 1.7 28.0 29.8 6.5 Commercial Revenues Excl. Direct Operations per Passenger 103.7 104.7 1.0 99.0 105.5 6.6 1 Adjusted operating margin excludes the effect of IFRIC12 with respect to the construction or improvements to concessioned ass ets 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 less construction services revenues. 3 Passenger figures include transit and general aviation passengers Mexico, Puerto Rico y Colombia. 4 Represents ASUR´s operations in convenience stores and parking lots. Consolidated Revenues Consolidated Revenues in 4Q25 increased 21.6 % YoY, or Ps.1,948.5 million, to Ps. 10.969.1 million, primarily driven by the following variations: • A 115.2% increase, or Ps.1,948.8 million, in construction services revenues to Ps. 3,639.8 million, primarily driven by Mexico. • A 0.5% increase, or Ps.1 3.8 million, in non -aeronautical services revenues to Ps.2,538. 8 million. Mexico accounted for Ps.1,769.2 million, Puerto Rico Ps.496.7 million, and Colombia Ps.272.9 million. • A 0.3% decrease, or Ps.14.1 million, in aeronautical services revenues to Ps.4, 790.4 million. Of this, Mexico contributed Ps.3, 545.4 million while Puerto Rico and Colombia accounted for Ps. 563.9 million and Ps.681.1 million, respectively. Excluding Construction Services Revenues, which under IFRS are recognized as both revenue and cost, total revenues remained practically unchanged at Ps.7,329.2 million, 72.5% of which accounted for total revenues in Mexico, while Puerto Rico and Colombia represented 14.5% and 13.0%, respectively. Commercial revenues increased 2.1% YoY to Ps.2,382.2 million in 4Q25. Revenue growth was mainly driven by increases of 0.3% to Ps.1,615.2 million in Mexico (includes Ps.133.0 million from the consolidation of ASUR US), 0.4% to Ps.494.3 million in Puerto Rico, and 18.6% to Ps.272.7 million in Colombia. Commercial Revenues per Passenger increased by 1.1% to Ps.131.7 in 4Q25, from Ps.130.2 in 4Q24.
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ASUR 4Q25 Page 4 of 26 Consolidated Operating Costs and Expenses Consolidated Operating Costs and Expenses increased 58.9% YoY, or Ps. 2,663.9 million, to Ps. 7,184.0 million. Excluding construction costs, operating costs and expenses for the quarter increased 25.3% year-over-year, or Ps.715.0 million: • Mexico: increased 10.4%, or Ps.171.2 million, primarily reflecting professional fees related to ASUR US and the Motiva Airports project in Brazil, higher personnel costs, lease expenses, security and cleaning services, maintenance and conservation expenses, taxes and duties, and depreciation and amortization, partially offset by a decrease in administrative expenses and concession fees. • Puerto Rico: increased 6.1%, or Ps.41.2 million, mainly due to higher operating costs and expenses, taxes and duties, maintenance and conservation, electricity costs, professional fees, and concession fees. This was partially offset by lower insurance and surety bond expenses, security services, a lower provision for doubtful accounts, reduced depreciation and amortization, and lower cleaning service expenses. • Colombia: increased 100.2%, or Ps.502.6 million, primarily due to higher depreciation and amortization resulting from a change in the concession amortization method, as well as increases in personnel costs, electricity, insurance and surety bonds, taxes and duties, and security and cleaning services. This was partially offset by lower maintenance and conservation expenses and a decrease in the provision for doubtful accounts. Cost of Services increased 22.8%, or Ps.315.5 million in 4Q25, mainly due to increases in personnel, security and cleaning, professional fees, insurance and sureties, leases, electricity, taxes and duties , and maintenance reserves. This was partially offset by a lower provision for doubtful accounts. Construction Costs increased 115.2%, or Ps.1, 948.8 million, reflecting increases of 131.4% in Mexico (Ps.1,855.4 million) and 39.6% in Puerto Rico (Ps.102.8 million), partially offset by a 48.8% decrease in Colombia (Ps.9.3 million). Administrative Expenses which reflect administrative costs incurred in Mexico, decreased 15.9% year-over- year. Technical Assistance Fees decreased 2.9%, reflecting lower EBITDA generated by ASUR’s Mexican operations. Concession Fees dec reased by 8.7% on a consolidated basis, reflecting decreases of 15.2% and 1.9%, in Mexico and Puerto Rico, respectively, partially offset by a 5.0% increase in Colombia driven by higher regulated and non-regulated revenues. Depreciation and Amortization increased 77.5%, or Ps. 473.4 million, reflecting increases of 424.0 %, or Ps.470.1 million in Colombia from a n adjustment to the concession amortization method , and 7.4%, or Ps.21.7 million, in Mexico. This was partially offset by a decline of 8.9%, or Ps.18.4 million, in Puerto Rico. Consolidated Operating Profit and EBITDA Consolidated Operating Profit for 4Q25 decreased to Ps.3,785.1 million with a margin of 34.5%, compared to Ps.4,500.5 million and a margin of 49.9% in 4Q24. 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 51.6% in 4Q25, from 61.4% in 4Q24, mainly impacted by the change in amortization method for concessions in Colombia introduced in 3Q25. EBITDA decreased by 4.8%, or Ps.244.1 million, to Ps. 4,867.1 million in 4Q25, from Ps. 5,111.3 million in 4Q24. By country of operations, EBITDA in Mexico decreased 3.4%, or Ps.132.4 million, to Ps.3,811.1 million, and in Puerto Rico by 19.0%, to Ps.123.5 million to Ps.525.2 million. In Colombia, EBITDA increased 2.3%, or Ps.11.8 million, to Ps.530.8 million. Mexico EBITDA includes Ps.86.1 million from the consolidation of ASUR US in 4Q25. The Consolidated EBITDA Margin was 44.4% in 4Q25 compared to 56.7% in 4Q24.
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ASUR 4Q25 Page 5 of 26 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, decreased to 66.4% in 4 Q25, from 69.7% in 4Q24. Comprehensive Financing Gain (Loss) Table 5: Consolidated Comprehensive Financing Gain (Loss) Fourth Quarter % Chg. Twelve-Months % Chg. 2024 2025 2024 2025 Interest Income 350,135 240,321 (31.4) 1,615,065 1,440,338 (10.8) Interest Expense (234,849) (515,377) 119.5 (826,708) (1,535,163) 85.7 Foreign Exchange Gain (Loss), Net 673,192 (155,446) n/a 2,072,490 (1,905,839) n/a Fair value (losses) gains, net (28,946) n/a (28,946) n/a Total 788,478 (459,448) n/a 2,860,847 (2,029,610) n/a In 4Q25, ASUR recorded a C omprehensive Financing Loss of Ps. 459.4 million, compared to a gain of Ps.788.5 million in 4Q24. This YoY variation was primarily driven by a Foreign Exchange Loss of Ps.155.4 million in 4Q25, compared to a foreign exchange gain of Ps.673.2 million in 4Q24. The 4Q25 loss reflects the appreciation of the Mexican peso against the U.S. dollar at quarter-end and on average, by 1.8% and 0.2%, respectively, on a lower U.S. dollar net asset position versus 4Q24, compared to a quarter -end and average depreciation of 5.8 % and 2.2 %, respectively, on 4Q24 on a U.S. dollar net asset position. In addition, interest income decreased 31.4%, or Ps.109.8 million, reflecting a lower cash position following the dividend payment in May, September and November 2025 I nterest expense increased by 119.5 %, or Ps.280.5 million, mainly due to the two loans incurred in Mexico: i) Ps.9,500.0 million loan on May 22, 2025 , and ii) Ps.6,390.0 million loan on December 5, 2025. Income Taxes Income taxes decreased by Ps.1,178.4 million year-over-year, primarily due to the following declines: • Ps.614.0 million in income tax expense, mainly driven by a lower taxable base in Mexico, reflecting the tax credit applied for income tax on dividends received from Colombia, partially offset by higher taxable income at Cancun Airport and Grupo Aeroportuario del Sureste. • Ps.564.4 million in deferred income taxes, primarily in Mexico, resulting from the recognition of deferred income tax related to previously untaxed accumulated retained earnings from ASUR’s investments in Colombia and Puerto Rico, shifting from an expense of Ps.52.6 million in 4Q24 to a net benefit of Ps.511.7 million in 4Q25, mainly in Colombia, partially offset by Puerto Rico and the initial recognition of ASUR US . This decrease also reflects the tax benefit from unredeemed asset balances at the Cancun, Mérida, Oaxaca and Villahermosa airports, partially offset by the initial recognition of deferred income tax at Cozumel Airport. In Colombia, deferred income taxes decreased due to the benefit recognized from a change in the amortization method of the concession. Net Majority Income ASUR reported a 20.5% YoY decrease in Net Majority Income for 4Q25, totaling Ps.2,713.7 million, compared to Ps.3,414.6 million in 4 Q24. This YoY variation was mainly driven by : i) an increase of Ps.473.4 million in amortization and depreciation mainly reflecting the Ps.470.1 million adjustment in the amortization methodology in Colombia, and ii) a Foreign Exchange Loss of Ps.155.4 million. Earnings per common share for the quarter were Ps.9,0457, and earnings per ADS were US $5,0251 (one ADS represents ten Series B common shares). This compares with earnings per share of Ps.11.3819 and earnings per ADS of US$6.3229 in the same period of the prior year.
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ASUR 4Q25 Page 6 of 26 Net Income Net Income for 4Q25 totaled Ps.2,804.9 million, compared to Ps.3,589.7 million in 4Q24, representing a YoY decrease of 21.9%, or Ps.784.8 million. Consolidated Financial Position As of December 31, 2025, airport concessions represented 66.9% of the Company’s total assets, investment properties represented 11.6%, current assets represented 20.9%, and other assets represented 0.6%. As of December 31, 2025, cash and cash equivalents totaled Ps. 11,116.3 million, a 44.6% decrease from Ps.20,083.4 million as of December 31, 2024, principally driven a total of Ps.24,000.0 million in dividend payments. The cash position by country was as follows: Mexico Ps. 8,978.8 million, Colombia Ps. 1,914.9 million, and Puerto Rico Ps.323.9 million. As of December 31, 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. 4,459.4 million, ii) goodwill of Ps.8 60.0 million (net of an impairment loss of Ps.4,719.1 million), iii) deferred income tax liability of Ps.4 45.9 million, and iv) a minority interest of Ps.4,795.8 million in Stockholders’ Equity. As of December 31, 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. 417.9 million, ii) goodwill of Ps.1,4 12.1 million, iii) deferred income tax payable of Ps. 114.6 million, and iv) fair value recognition of bank loans of Ps.90.5 million. As of December 31, 2025, total equity was Ps. 46,406.3 million, representing 5 1.7% of T otal Assets, while Total Liabilities amounted to Ps. 43,291.3 million, or 48.3% of total assets. Deferred Liabilities represented 8.3% of total liabilities. Total debt at quarter -end increased 105.7% to Ps.27,486.6 million, compared with Ps.13,359.4 million as of December 31, 2024, principally reflecting a 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, and a principal repayment of Ps.263.1 million in Puerto Rico. On December 5, 2025 ASUR entered into a Ps.6,390.0 million Senior Credit Agreement with JPMorgan Chase Bank, N.A., bearing interest at the 28- day TIIE plus 0.75 percentage points and maturing in May 2027. In connection with this facility, the Company paid a Ps.16 .4 million structuring fee on July 31, 2025, and a Ps.22.6 million upfront fee on December 15, 2025. On November 26, 2025 the Company paid a Ps.119,2 million structuring fee in connection with a US$936.0 million loan from JPMorgan related to the Motiva Airports project in Brazil. As of December 31, 2025, 66. 2% of ASUR’s total debt was denominated in Mexican pesos, 32.3% in U.S. dollars (debt associated with Puerto Rico’s operations) , and 1 .5% 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.
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ASUR 4Q25 Page 7 of 26 On November 26, 2024, Aerostar amended its US$10.0 million secured revolving credit facility with Banco Popular de Puerto Rico, to extend its maturity through December 18, 2027, and with an applicable interest rate fluctuating between 0.75% and 3.0%, plus a 2.0% default interest rate. Aerostar is required to maintain a debt coverage ratio of 1.00 at the end of each quarter. As of December 31, 2025, no amounts had been drawn from this facility. On September 2025, Cancun Airport amended its credit line with Santander to extend its maturity to September 26, 2027, with an applicable interest rate of TIIEF plus 1.5 points. ASUR’s Net Debt-to-LTM EBITDA ratio stood at 0. 8x as of December 31, 2025, compared to negative 0.3x as of December 31, 2024. The interest coverage ratio was 9.6x in December 31, 2025 compared to 12.5x as of December 31, 2024. Table 6: Consolidated Debt Indicators December 31, 2024 September 30, 2025 December 31, 2025 Leverage Total Debt/ LTM EBITDA (Times) 1 0.7 1.0 1.4 Total Net Debt/ LTM EBITDA (Times) 2 (0.3) 0.2 0.8 Interest Coverage Ratio 3 12.5 12.8 9.6 Total Debt 13,359,456 21,231,874 27,486,563 Short-term Debt 1,131,530 334,138 625,850 Long-term Debt 12,227,926 20,897,736 26,860,713 Cash & Cash Equivalents 20,083,457 16,259,294 11,116,335 Total Net Debt 4 (6,724,001) 4,972,580 16,370,228 1 The Total Debt to EBITDA Ratio is calculated as ASUR’s interest-bearing liabilities divided by its EBITDA. 2 The Total Net Debt to EBITDA Ratio is calculated as ASUR’s interest -bearing liabilities minus Cash & Cash Equivalents, divided by its EBITDA. 3 The Interest Coverage Ratio for Mexico is calculated as ASUR’s LTM EBIDA divided by its LTM interest expenses. For Puerto Ric o it is calculated as LTM Cash Flow Generation divided LTM debt service, and for Colombia as LTM EBITDA minus LTM taxes divided by LTM debt service. 4 Total net debt is calculated as Asur´s total debt without cash & cash Equivalents . Table 7: Consolidated Debt Profile (millions)* Aerostar US$ Cancun Airport M´Mxp $ Airplan M Col Ps Original Amount 350´M 200´M 50´M BBVA 2,000 BBVA 9,500 Santander 2,650 JP, Morgan 6,390 Syndicated Loan 440,000 Interest rate 5.75% 4.92% 6.75% TIIE + 1.35 pp TIIEF + 1.25 pp TIIEF+ 1.50 pp TIIEF + 0.75 pp DTF + 4pp Principal Balance as of December 31, 2025 251.2 200.0 42.0 1,750.0 9,500.0 675.0 6,390.0 67,897.2 2026 15.0 - - - 30,497.2 2027 16.6 - - 9,500.0 675.0 6,390.0 37,400.0 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 - - - DTF is an average 90-day rate to which the credit facilities in Colombia are pegged. The Mexico loans were entered into on: i) May 22, 2025 with BBVA for Ps.9,500 million; ii) in September 2021 with Santander for Ps.2,650 million; iii) in October 2021 with BBVA for Ps.2,000 million; and iv) on December 5, 2025 with JPMorgan Chase Bank for Ps.6,390 million. 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 each of the following dates: April 14, 2023, July 14, 2023, October 13, 2023, January 15, 2024, and April 15, 2024. On September 26, 2025, Cancun A irport renewed the Santander loan for Ps. 675.0 million; the new maturity date is September 26, 2027, with a TIIEF rate +1.50 pp. The Puerto Rico (Aerostar) bonds were issued in March 2013 and June 2015 (in May 2022 the payment date at maturity was modified to 2035). In July 2022, Aerostar issued senior secured notes for US$200,000 million due March 22, 2035. The Colombia (Airplan) syndicated loan was obtained in June 2015, with a grace period of three years. Airplan made capital payments for Cop.150,000 million in April 2022, and for Cop 100,000 million in April 2024, and its next principal payment is due in September 2026. *Expressed in the original currency of each loan.
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ASUR 4Q25 Page 8 of 26 Strong Liquidity Position and Healthy Debt Maturity Profile ASUR closed 4Q25 with a solid financial position, reporting Cash and Cash Equivalents of Ps. 11,116.3 million and Total Debt plus interest of Ps.27,486.6 million. The following table shows the liquidity position for each of ASUR’s regions of operations: Table 8: Liquidity Position as of December 31, 2025 Figures in thousands of Mexican Pesos Region of Operation Cash & Equivalents Total Debt Short-term Debt Long-term Debt Principal Payments (Jan– March 2025) Mexico 8,877,830 18,199,671 72,513 18,127,158 0 Puerto Rico 323,859 8,869,864 405,494 8,464,370 129,313 Colombia 1,914,646 417,028 147,843 269,185 0 Total 11,116,335 27,486,563 625,850 26,860,713 129,313 Table 9: Debt Maturity Profile as of December 31, 2025 Figures in thousands of Mexican pesos Region of Operation 2026 2027 2028 2029/2035 México 0 16,565,000 0 1,750,000 Puerto Rico 269,906 299,140 292,181 8,016,024 Colombia 140,377 172,123 0 0 Total 410,283 17,036,264 292,181 9,766,024 1 Figures in pesos converted at the exchange rate at the close of the quarter of Ps.18.8342=US$1.00 2 Figures in pesos converted at the exchange rate at the close of the quarter of COP 21 4.2200 =Ps.1.00 Table 10: Debt Ratios at December 31, 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 15,631,329 824,331 19.0 3.0 Puerto Rico2 1,469,066 742,193 2.0 1.1 Colombia3 1,478,850 367,905 4.0 1.2 Total 18,579,245 1,934,429 9.6 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. LTM Cash Flow Generation for the period was Ps.1.5 billion and LTM Debt Service was Ps.742.2 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.367.9 million. Accounts Receivables Accounts receivables decreased 8.6% YoY in 4Q25, reflecting an increase in collections from clients in Mexico and Colombia. Table 11: Accounts Receivables at December 31, 2025 Figures in thousands of Mexican Pesos Region 4Q24 4Q25 % Change México 2,389,876 2,174,456 (9.0) Puerto Rico 266,410 282,556 6.1 Colombia 148,055 105,297 (28.9) Total 2,804,341 2,562,309 (8.6) Note: Net of allowance for bad debts. Capital Expenditures In 4Q25, ASUR made capital investments of totaling Ps. 3,899.3 million, of which Ps. 3,466.8 million were allocated to the modernization of its Mexican airports under its development plan, Ps. 418.5 million to Aerostar in Puerto Rico, and Ps. 14.0 million to Airplan in Colombia. This compares with Ps. 2,532.7 million invested in 4Q24, of which Ps. 2,216.5 million were allocated to Mexican airports, Ps. 297.1 million to Puerto Rico, and Ps.19.1 million to Colombia.
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ASUR 4Q25 Page 9 of 26 On an accumulated basis, total capital expenditures amounted to Ps. 7,807.8 million, with Ps. 6,927.8 million allocated to the modernization of Mexican airports, Ps. 856.1 million to Aerostar in Puerto Rico, and Ps. 23.9 million to Airplan in Colombia. This compares with Ps. 3,394.1 million invested during 2024, including Ps.3,661.0 million for Mexican airports, Ps.707.7 million for Puerto Rico, and Ps.25.7 million for Colombia. 4Q25 Relevant Events On December 11, 2025, ASUR’s subsidiary, ASUR US Commercial Airports, LLC, completed the acquisition of 100% of the equity interests of URW Airports, LLC from Westfield Development, Inc., a wholly owned subsidiary of Unibail-Rodamco-Westfield, for an enterprise value of US$295 million. The acquired entity was renamed ASUR Airports, LLC and manages select commercial programs at key U.S. airport terminals, including Terminals 1, 2, 3, 6 and the Tom Bradley International Terminal and Tom Bradley International Terminal West at Los Angeles International Airport; Terminal 5 at Chicago O’Hare International Airport; and Terminals 8 and the New Terminal One at John F. Kennedy International Airport Subsequent Events On January 26, 2026, an Ordinary General Shareholders’ Meeting was held which approved authorizing the Company to acquire all or a portion of the shares of, and/or interests in, airport operators, including Companhia de Participações em Concessões, either directly or through its subsidiaries and/or special purpose vehicles, and to incur indebtedness and enter into such agreements and contracts as may be necessary and/or advisable to implement such acquisition. Review of Mexico Operations Table 12: Mexico Revenues & Commercial Revenues Per Passenger Fourth Quarter % Chg Twelve - Months % Chg 2024 2025 2024 2025 Total Passenger 10,159 10,159 - 41,645 40,793 (2.0) Total Revenues 6,707,511 8,582,210 27.9 23,168,690 27,988,204 20.8 Aeronautical Services 3,495,341 3,545,372 1.4 13,915,654 14,273,248 2.6 Non-Aeronautical Services 1,799,896 1,769,176 (1.7) 7,056,319 7,153,825 1.4 Construction Revenues 1,412,274 3,267,662 131.4 2,196,717 6,561,131 198.7 Total Revenues Excluding Construction Revenues 5,295,237 5,314,548 0.4 20,971,973 21,427,073 2.2 Total Commercial Revenues 1,610,606 1,615,150 0.3 6,315,833 6,453,961 2.2 Commercial Revenues from Direct Operations 288,875 310,725 7.6 1,277,849 1,321,132 3.4 Commercial Revenues Excluding Direct Operations 1,321,731 1,304,425 (1.3) 5,037,984 5,132,829 1.9 Total Commercial Revenues per Passenger 158.5 159.0 0.3 151.7 158.2 4.3 Commercial Revenues from Direct Operations per Passenger 1 28.4 30.6 7.6 30.7 32.4 5.6 Commercial Revenues Excl. Direct Operations per Passenger 130.1 128.4 (1.3) 121.0 125.8 4.0 For the purposes of this table, approximately 53.7 and 44.5 thousand transit and general aviation passengers are included in 4Q24 and 4Q25 respectively, while 224.6 and 197.3 thousand transit and general aviation passengers are included in FY24 and FY25. 1 Represents the operation of ASUR in its convenience stores and parking lots in Mexico. Mexico Revenues Mexico Revenues for 4Q25 increased 27.9% YoY to Ps.8,582.2 million, mainly reflecting higher construction revenues. Excluding Construction Services, Revenues increased 0.4% YoY, reflecting a 1.4% increase in aeronautical services revenue combined with a 1.7% decrease in non-aeronautical revenues, mainly due t o the appreciation of the Mexican peso against the US dollar to Ps.18.3032 in 4Q25 compared to Ps.20.0782 in 4Q24. Commercial Revenues for the quarter increased 0 .3% YoY. Additionally, Commercial Revenue per Passenger increased to Ps.159.0 in 4Q25, from Ps.158.5 in 4Q24.
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ASUR 4Q25 Page 10 of 26 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. Table 13: Mexico Commercial Revenue Performance Table 14: Mexico Summary Retail and Other Commercial Space Opened since December 31,2024 Bussines Line YoY Chg Type of Commercial Space 1 # Of Spaces Opened 4Q25 12M25 Other Revenues 34.9% 19.7% 8 Others airports Food and Beverage 30.7% 8.9% Retail 3 Car parking 6.5% 7.5% Banks and foreign exchange 1 Teleservices 3.3% 24.7% Car rental 2 Ground Transportation 2.9% 2.0% Mexico 6 Duty Free (5.0%) 4.1% Car rental (11.5%) 1.3% Retail (12.3%) (4.2%) Advertising (14.4%) (19.4%) 1 Only includes new stores opened during the period and excludes remodelings or contract renewals. Banks and foreign exchange (33.2%) (9.6%) Total Commercial Revenues 0.3% 2.2% Mexico Operating Costs and Expenses Table 15: Mexico Operating Costs & Expenses Fourth Quarter % Chg. Twelve-Months % Chg. 2024 2025 2024 2025 Cost of Services 738,337 969,318 31.3 2,897,158 3,294,505 13.7 Administrative 94,759 79,719 (15.9) 319,638 346,047 8.3 Technical Assistance 101,265 98,278 (2.9) 400,838 400,912 0.0 Concession Fees 417,354 353,927 (15.2) 1,728,174 1,755,832 1.6 Depreciation and Amortization 294,347 316,024 7.4 1,175,773 1,253,924 6.6 Operating Costs and Expenses Excluding Construction Costs 1,646,062 1,817,266 10.4 6,521,581 7,051,220 8.1 Construction Costs 1,412,274 3,267,662 131.4 2,196,717 6,561,131 198.7 Total Operating Costs & Expenses 3,058,336 5,084,928 66.3 8,718,298 13,612,351 56.1 Total Operating Costs and Expenses increased 6 6.3%, or Ps.2, 026.6 million YoY. Excluding construction costs, operating costs and expenses increased 10.4%, or Ps.171.2 million as described below. Cost of Services increased 31.3 %, mainly due to higher professional expenses incurred in connection with ASUR US and Motiva Airports in Brazil, together with higher personnel expenses, leases, security and cleaning services, maintenance and conservation, and taxes and surety bonds. Administrative Expenses decreased 15.9% YoY. Technical Assistance Fees paid to ITA decreased 2.9 %, reflecting a decrease in EBITDA related to the Mexican operations. Concession Fees, which include payments made to the Mexican government , decreased by 15.2%, mainly due to a lower tariff calculation base. Depreciation and Amortization increased by 7.4% YoY, reflecting the recognition of investments made to date.
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ASUR 4Q25 Page 11 of 26 Mexico Consolidated Comprehensive Financing Gain (Loss) Table 16: Mexico Comprehensive Financing Gain (Loss) Fourth Quarter % Chg Twelve - Months % Chg 2024 2025 2024 2025 Interest Income 259,814 193,514 (25.5) 1,234,560 1,179,105 (4.5) Interest Expense (83,561) (374,448) 348.1 (351,635) (922,604) 162.4 Foreign Exchange Gain (Loss), Net 674,241 (157,160) n/a 2,073,962 (1,907,344) n/a Fair value (losses) gains, net - (28,946) n/a (28,946) n/a Total 850,494 (367,040) n/a 2,956,887 (1,679,789) n/a During 4Q25, ASUR’s operations in Mexico reported a Comprehensive Financing Loss of Ps.367.0 million, compared with a gain of Ps.850.5 million in 4Q24. This was mainly due to a Foreign Exchange Loss of Ps.157.2 million recorded in 4Q25, compared to a gain of Ps. 674.2 million in 4Q24. The 4Q25 Foreign Exchange Loss resulted mainly from the appreciation of the Mexican peso against the U.S. dollar at quarter -end and on average, by 1.8 % and 0.2 %, respectively, on a lower U.S. dollar net asset position compared to 4Q24 . This compares to a 5.8% quarter-end and 2.2% average depreciation of the peso in 4Q24, also on a U.S. dollar net asset position. Additionally, Interest Income decreased by 25.5%, or Ps.66.3 million, mainly reflecting lower cash balances following dividend payments in May, September and November 2025. Interest expense increased by 348.1%, or Ps.290.9 million, primarily due to the two loans obtained in Mexico: i) Ps.9,500.0 million obtained on May 22, 2025, and ii) Ps.6,390.0 million on December 5, 2025. Mexico Operating Profit (Loss) and EBITDA Table 17: Mexico Profit & EBITDA Fourth Quarter % Chg. Twelve-Months % Chg. 2024 2025 2024 2025 Total Revenue 6,707,511 8,582,210 27.9 23,168,690 27,988,204 20.8 Total Revenues Excluding Construction Revenues 5,295,237 5,314,548 0.4 20,971,973 21,427,073 2.2 Operating Profit 3,649,175 3,497,282 (4.2) 14,450,392 14,375,853 (0.5) Operating Margin 54.4% 40.8% (1365 bps) 62.4% 51.4% (1101 bps) Adjusted Operating Margin 1 68.9% 65.8% (311 bps) 68.9% 67.1% (181 bps) Net Profit 2 2,846,663 2,486,956 (12.6) 11,632,439 9,164,859 (21.2) EBITDA 3,943,528 3,811,103 (3.4) 15,627,848 15,631,329 0.0 EBITDA Margin 58.8% 44.4% (1439 bps) 67.5% 55.8% (1160 bps) Adjusted EBITDA Margin 3 74.5% 71.7% (276 bps) 74.5% 73.0% (157 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.159.1 million and Ps. 292.5 million from ASUR’s participation in Aerostar in 4Q25 and 4Q24, respectively, and of Ps.84.5 million and Ps.314.9 million for Airplan in 4Q25 and 4Q24, 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.3,497.3 million in 4Q25, with an Operating Margin of 40.8%, compared to Ps.3,649.2 million and an operating margin of 54.4% in 4Q24. 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 65.8% in 4Q25, compared to 68.9% in 4Q24. EBITDA decreased by 3.4% YoY, or Ps.132.4 million, to Ps.3,811.1 million in 4Q25, from Ps.3,943.5 million in 4Q24. The EBITDA Margin was 44.4% in 4Q25, compared to 58.8% in 4Q24. The Adjusted EBITDA Margin , which excludes the effect of IFRIC 12 related to construction and improvements of concessioned assets, was 71.7% in 4Q25, compared to 74.5% in 4Q24.
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ASUR 4Q25 Page 12 of 26 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.14.680.2 million as of December 31, 202 5. The weighted implicit tariff was Ps. 349.1 (in December 2024 pesos) per traffic unit, representing approximately 68.2 % 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 4Q25, ASUR made capital investments in Mexico totaling Ps. 3,466.8 million, compared to Ps.2,216.5 million in 4 Q24. On an accumulated basis, capex reached Ps. 6,927.8 million, compared to Ps.3,661.0 million as of 4Q24. Review of Puerto Rico Operations The following analysis compares the standalone results of Aerostar for the three- and twelve-month periods ended December 31, 2025 and 2024. As of December 31, 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 r ecognition of a net intangible asset of Ps. 4,459.4 million, ii) goodwill of Ps. 860.0 million ( net of an impairment loss of Ps.4,719.1 million), iii) d eferred income tax liability of Ps. 445.9 million, and iv) a m inority interest of Ps.4,795.8 million in Stockholders’ Equity. Puerto Rico Revenues Table 18: Puerto Rico Revenues & Commercial Revenues Per Passenger In thousands of Mexican pesos Fourth Quarter % Chg. Twelve-Months % Chg. 2024 2025 2024 2025 Total Passenger 3,200 3,100 (3.1) 13,247 13,644 3.0 Total Revenues 1,384,247 1,423,049 2.8 4,815,975 5,425,369 12.7 Aeronautical Services 629,387 563,944 (10.4) 2,208,073 2,371,524 7.4 Non-Aeronautical Services 495,222 496,692 0.3 1,981,707 2,283,952 15.3 Construction Revenues 259,638 362,413 39.6 626,195 769,893 22.9 Total Revenues Excluding Construction Revenues 1,124,609 1,060,636 (5.7) 4,189,780 4,655,476 11.1 Total Commercial Revenues 492,399 494,331 0.4 1,971,227 2,274,040 15.4 Commercial Revenues from Direct Operations 186,043 176,863 (4.9) 736,363 834,552 13.3 Commercial Revenues Excluding Direct Operations 306,356 317,468 3.6 1,234,864 1,439,488 15.6 Total Commercial Revenues per Passenger 153.9 159.4 3.6 148.8 166.7 12.0 Commercial Revenues from Direct Operations per Passenger 1 58.1 57.0 (1.9) 55.6 61.2 10.0 Commercial Revenues Excl. Direct Operations per Passenger 95.7 102.4 7.0 93.2 105.5 13.2 Figures in pesos at the average exchange rate of Ps.18.3032 = US$1.00 for 4Q25 and of Ps.19.208 = US$1.00 for FY25. 1 Represents ASUR´s operations in convenience stores in Puerto Rico. Total Puerto Rico Revenues for 4Q25 increased 2.8% YoY to Ps.1,423.0 million. Excluding Construction Services, Revenues decreased 5.7% YoY, reflecting a 10.4% decrease in aeronautical revenues, partially offset by a 0.3% increase in non-aeronautical revenues.
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ASUR 4Q25 Page 13 of 26 Commercial Revenue per Passenger increased to Ps.159.4 in 4Q25, from Ps.153.9 in 4Q24. A total of eight new commercial locations opened over the past twelve months through 4Q25, as shown in Table 20. Additional details on 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 December 31, 2024 Business Line YoY Chg Type of Commercial Space 1 # of Spaces Opened 4Q25 12M25 Duty Free 19.8% 16.6% Duty Free 2 Car rentals 7.6% 17.0% Retail 2 Food and beverage 7.1% 26.4% Food and beverage 4 Ground Transportation 0.0% 0.0% Total Commercial space 8 Retail (2.5%) 14.6% Banks and foreign exchange (5.8%) 10.6% Others revenues (8.8%) 11.5% Car parking (15.2%) 7.6% 1 Only includes new stores opened during the period and excludes remodelings or contract renewals. Advertising (17.8%) 21.4% Total Commercial Revenues 0.4% 15.4% Puerto Rico Costs & Expenses Table 21: Puerto Rico Operating Costs & Expenses In thousands of Mexican pesos Fourth Quarter % Chg. Twelve-Months % Chg. 2024 2025 2024 2025 Cost of Services 422,912 483,494 14.3 1,733,073 2,034,464 17.4 Concession Fees 52,858 51,878 -1.9 199,597 226,083 13.3 Depreciation and Amortization 205,577 187,209 (8.9) 728,643 774,142 6.2 Operating Costs and Expenses Excluding Construction Costs 681,347 722,581 6.1 2,661,313 3,034,689 14.0 Construction Costs 259,638 362,413 39.6 626,195 769,893 22.9 Total Operating Costs & Expenses 940,985 1,084,994 15.3 3,287,508 3,804,582 15.7 Figures in pesos at the average exchange rate of Ps.18.3032 = US$1.00 for 4Q25 and of Ps.19.208 = US$1.00 for FY25. Total Operating Costs and Expenses in Puerto Rico for 4Q25 increased 15.3% YoY to Ps. 1,085.0 million. Construction costs increased 39.6%, to Ps.362.4 million in 4Q25 from Ps.259.6 million in 4Q24. Excluding Construction, Operating Costs and Expenses increased 6.1%, or Ps.41.2 million, mainly reflecting higher operating expenses, including taxes and duties, maintenance and conservation, electricity costs, professional fees, and concession fees. These were partially offset by a reduction in insurance and surety bonds, security, as well as a decrease in provisions for doubtful accounts along with lower depreciation and amortization and cleaning service costs. Cost of Services increased by 14.3%, or Ps.60.6 million, primarily due to increases in taxes and duties, maintenance and conservation, electricity, and professional fees. This was partially offset by reductions in insurance and security bonds, security, lower provisions for doubtful accounts and a decrease in cleaning services. Concession Fees decreased by 1.9% YoY, or Ps.1.0 million, reflecting the impact of FX conversion. Depreciation and Amortization decreased by 8.9%, or Ps.18.4 million, YoY, mainly reflecting the impact of foreign exchange conversion.
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ASUR 4Q25 Page 14 of 26 Puerto Rico Comprehensive Financing Gain (Loss) Table 22: Puerto Rico Comprehensive Financing Gain (Loss) In thousands of Mexican pesos Fourth Quarter % Chg. Twelve-Months % Chg. 2024 2025 2024 2025 Interest Income 23,645 15,343 (35.1) 124,165 82,050 (33.9) Interest Expense (146,433) (127,764) (12.7) (545,977) (549,669) 0.7 Total (122,788) (112,421) (8.4) (421,812) (467,619) 10.9 Figures in pesos at the average exchange rate of Ps.18.3032 = US$1.00 for 4Q25 and of Ps.19.208 = US$1.00 for FY25. During 4Q25, Puerto Rico reported a comprehensive financing loss of Ps.112.4 million, compared with a loss of Ps.122.8 million in 4Q24. The lower financing loss reflects the payments made in March and September 2025 on the principal amount of Aerostar's senior secured notes due March 22, 2035, and a decrease 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 December 31, 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 Fourth Quarter % Chg. Twelve-Months % Chg. 2024 2025 2024 2025 Total Revenue 1,384,247 1,423,049 2.8 4,815,975 5,425,369 12.7 Total Revenues Excluding Construction Revenues 1,124,609 1,060,636 (5.7) 4,189,780 4,655,476 11.1 Other Revenues - - 0.0 - - 0.0 Operating Profit 443,262 338,055 (23.7) 1,528,467 1,620,787 6.0 Operating Margin 32.0% 23.8% (827 bps) 31.7% 29.9% (186 bps) Adjusted Operating Margin1 39.4% 31.9% (754 bps) 36.5% 34.8% (167 bps) Net Income 437,839 230,351 (47.4) 1,197,521 1,091,756 (8.8) EBITDA 648,840 525,264 (19.0) 2,257,110 2,394,929 6.1 EBITDA Margin 46.9% 36.9% (996 bps) 46.9% 44.1% (272 bps) Adjusted EBITDA Margin2 57.7% 49.5% (817 bps) 53.9% 51.4% (243 bps) Figures in pesos at the average exchange rate of Ps.18.3032 = US$1.00 for 4Q25 and of Ps.19.208 = US$1.00 for FY25. 1 Adjusted Operating Margin excludes the effect of IFRIC12 with respect to the construction or improvements to concessioned ass ets, and is equal to operating profit divided by total revenues less construction services revenues. 2 Adjusted EBITDA Margin excludes the effect of IFRIC12 with respect to the construction or improvements to concessioned assets, and is calculated by dividing EBITDA by total revenues less construction services revenues.
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ASUR 4Q25 Page 15 of 26 Operating Profit for 4Q25 decreased 23.7% YoY to Ps. 338.1 million, representing an Operating Margin of 23.8%, compared to Ps.443.3 million and an Operating Margin of 32.0% in 4Q24. EBITDA decreased 19. 0% YoY to Ps. 525.3 million in 4 Q25, from Ps. 648.8 million in 4 Q24. The EBITDA margin decreased to 36.9 % in 4 Q25, from 4 6.9% in 4Q24. The YoY decrease in EBITDA was principally the result of the appreciation of the Mexican Peso against the US Dollar, as the Average FX Rate in 4Q25 was Ps.18.3045 per dollar compared to Ps.20.0808 per dollar in 4Q24 , thus driving a decrease in revenues. Excluding the FX conversion effect, aeronautical revenues decreased US$ 0.5 million YoY reflecting the 3.1% decrease in total Passenger traffic during the period. The Adjusted EBITDA Margin , which excludes the effect of IFRIC 12 with respect to construction or improvements to concessioned assets, decreased to 49.5% from 57.7% in 4Q24. Puerto Rico Capital Expenditures Capital expenditures in Puerto Rico totaled Ps. 418.5 million in 4Q25, compared with Ps.297.1 million in 4Q24. On an accumulated basis, total capex reached Ps.856.1 million, compared with Ps.707.7 million in 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 twelve-month periods ended December 31, 2025, and 2024. As of December 31, 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. 417.9 million, ii) goodwill of Ps.1,412.1 million, iii) deferred income tax payable of Ps. 114.6 million, and iv) fair value recognition of bank loans of Ps.90.5 million. Table 24: Colombia Revenues & Commercial Revenues Per Passenger In thousands of Mexican pesos Fourth Quarter % Chg. Twelve-Months % Chg. 2024 2025 2024 2025 Total Passenger 4,563 4,833 5.9 17,126 17,906 4.6 Total Revenues 928,819 963,815 3.8 3,348,122 3,823,858 14.2 Aeronautical Services 679,774 681,075 0.2 2,465,434 2,743,088 11.3 Non-Aeronautical Services 229,922 272,957 18.7 857,301 1,061,486 23.8 Construction Revenues 1 19,123 9,783 (48.8) 25,387 19,284 (24.0) Total Revenues Excluding Construction Revenues 909,696 954,032 4.9 3,322,735 3,804,574 14.5 Total Commercial Revenues 229,844 272,680 18.6 856,253 1,060,843 23.9 Total Commercial Revenues per Passenger 50.4 56.4 12.0 50.0 59.2 18.4 Figures in pesos at an average exchange rate of COP.208.5818 = Ps.1.00 Mexican pesos for 4Q25 and of COP.210.8911 = Ps.1.00 Mexican pesos for FY25. For the purposes of this table, approximately 130.0 and 147.8 thousand transit and general aviation passengers are included in 4 Q24 and 4Q25, while 474.6 and 585.4 thousand transit and general aviation passengers are included in FY 24 and FY25.
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ASUR 4Q25 Page 16 of 26 Colombia Revenues Total Revenues for Colombia in 4Q25 increased 3.8% YoY to Ps.9 63.8 million. Excluding construction services revenue, total revenues increased 4.9% YoY, primarily reflecting higher total passenger traffic. Commercial Revenue per Passenger was Ps.56.4 in 4Q25, compared to Ps.50.4 in 4Q24. As shown in Table 26 , a total of 27 new commercial spaces were opened over the past twelve months at ASUR’s Colombian airports, including: nine at Rionegro, eight at Olaya Herrera , four each at Quibdó and Monteria, and one each at Corozal and Carepa . Further details on these openings can be found on page 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 December 31, 2024 Business Line YoY Chg Type of Commercial Space 1 # of Spaces Opened 4Q25 12M25 Teleservices 343.1% 341.5% Others revenues 16 Car rental 180.0% 50.0% Teleservices 10 Food and beverage 22.9% 25.5% Banks and foreign exchange 1 Car parking 20.8% 27.8% Total Commercial Spaces 27 Banks and foreign exchange 19.9% 11.2% Other revenues 18.1% 23.3% Advertising 10.5% 17.7% Retail 9.1% 21.8% Duty free 6.3% 16.2% Ground Transportation (16.8%) 47.7% 1 Only includes new stores opened during the period and excludes remodelings or contract renewals. Total Commercial Revenues 18.6% 23.9% Colombia Costs & Expenses Table 27: Colombia Costs & Expenses In thousands of Mexican pesos Fourth Quarter % Chg. Twelve-Months % Chg. 2024 2025 2024 2025 Cost of Services 220,033 243,991 10.9 733,320 851,838 16.2 Concession Fees 170,745 179,281 5.0 629,900 722,742 14.7 Depreciation and Amortization 110,870 580,989 424.0 418,568 1,232,749 194.5 Operating Costs and Expenses Excluding Construction Costs 501,648 1,004,261 100.2 1,781,788 2,807,329 57.6 Construction Costs 19,123 9,783 (48.8) 25,387 19,284 (24.0) Total Operating Costs & Expenses 520,771 1,014,044 94.7 1,807,175 2,826,613 56.4 Figures in pesos at an average exchange rate of COP.208.5818 = Ps.1.00 Mexican pesos for 4Q25 and of COP.210.8911 = Ps.1.00 Mexican pesos for FY25. Total Operating Costs and Expenses for ASUR’s Colombian airports in 4 Q25 increased 94.7% YoY to Ps.1,014.0 million. Excluding construction costs, operating costs and expenses rose 100.2% to Ps. 1,004.3 million, primarily reflecting higher depreciation and amortization mainly resulting from the adjustment to the concession amortization method introduced in 3Q25. Cost of Services increased 10.9%, or Ps.24.0 million, mainly due to higher personnel expenses, electric energy, insurance and surety bonds , taxes and duties, along with security and cleaning services. This was partially offset by a decrease in maintenance and conservation reserves, together with lower provisions for uncollectible accounts. Construction Costs decreased by 48.8%, or Ps.9.3 million compared to 4Q24.
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ASUR 4Q25 Page 17 of 26 Concession Fees paid to the Colombian government increased 5.0%, principally reflecting higher regulated and non-regulated revenues compared with the same period last year. Depreciation and Amortization increased 424.0% YoY, mainly reflecting a Ps.470.1 million adjustment to the concession amortization method introduced in 3Q25. Colombia Comprehensive Financing Gain (Loss) Table 28: Colombia, Comprehensive Financing Gain (Loss) In thousands of Mexican pesos Fourth Quarter % Chg. Twelve-Months % Chg. 2024 2025 2024 2025 Interest Income 66,676 31,464 (52.8) 256,340 179,183 (30.1) Interest Expense (4,855) (13,165) 171.2 70,904 (62,890) n/a Foreign Exchange Gain (Loss), Net (1,049) 1,714 n/a (1,472) 1,505 n/a Total 60,772 20,013 (67.1) 325,772 117,798 (63.8) Figures in pesos at an average exchange rate of COP.208.5818 = Ps.1.00 Mexican pesos for 4Q25 and of COP.210.8911 = Ps.1.00 Mexican pesos for FY25. During 4Q25, Colombia reported a Comprehensive Financing Gain of Ps.20.0 million, compared to Ps.6 0.8 million in 4Q24. Interest income decreased by 52.8%, or Ps.35.2 million YoY, mainly due to a lower cash position and yields. Interest expense increased 171.2%, or Ps.8.3 million YoY, primarily reflecting the benefit from the Ps.8.5 million adjustment to the amortization of the fair value of the loan incurred in connection with the acquisition of the Colombia business recorded in 4Q24, not applicable in 4Q25. Colombia Operating Profit (Loss) and EBITDA Table 29: Colombia Profit & EBITDA In thousands of Mexican pesos Fourth Quarter % Chg. Twelve-Months % Chg. 2024 2025 2024 2025 Total Revenue 928,819 963,815 3.8 3,348,122 3,823,858 14.2 Total Revenues Excluding Construction Revenues 909,696 954,032 4.9 3,322,735 3,804,574 14.5 Operating Profit 408,048 (50,229) n/a 1,540,947 997,245 (35.3) Operating Margin 43.9% -5.2% (4914 bps) 46.0% 26.1% (1994 bps) Adjusted Operating Margin1 44.9% -5.3% (5012 bps) 46.4% 26.2% (2016 bps) Net Profit 305,215 87,638 (71.3) 1,200,478 668,082 (44.3) EBITDA 518,918 530,760 2.3 1,959,515 2,229,994 13.8 EBITDA Margin 55.9% 55.1% (80 bps) 58.5% 58.3% (21 bps) Adjusted EBITDA Margin2 57.0% 55.6% (141 bps) 59.0% 58.6% (36 bps) Figures in pesos at an average exchange rate of COP.208.5818 = Ps.1.00 Mexican pesos for 4Q25 and of COP.210.8911 = Ps.1.00 Mexican pesos for FY25. 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 4Q25, ASUR’s operations in Colombia reported an Operating Loss of Ps. 50.2 million, compared to an Operating Profit of Ps.408.0 million in 4Q24, principally reflecting an increase in depreciation and amortization resulting from an Ps.470.1 million adjustment to the concession amortization method. The Operating Margin was negative 5.2% in 4Q25, compared to 44.9% in 4Q24. Adjusted Operating Margin, which excludes the impact of IFRIC 12 with respect to construction or improvements to concessioned assets, was negative 5.3% in 4Q25, compared to 44.9% in 4Q24. EBITDA for the quarter was Ps.5 30.8 million, resulting in an EBITDA margin of 55.1%, compared to EBITDA of Ps.518.9 million and an EBITDA margin of 55.9% in 4Q24.
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ASUR 4Q25 Page 18 of 26 Adjusted EBITDA Margin, which excludes the effect of IFRIC 12 related to the construction or improvements of concession assets, decreased to 55.6% in 4Q25, from 57.0% in 4Q24. Colombia Capital Expenditures During 4Q25, ASUR made capital investments of Ps. 14.0 million in Colombia, compared to Ps.19.1 million in 4Q24. On an accumulated basis, total capex reached Ps.23.9 million, compared to Ps.25.7 million as of 4Q24. 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.681.1 million in 4Q25. 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 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
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ASUR 4Q25 Page 19 of 26 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 across the Americas. The Company operates nine airports in southeast of Mexico, including Cancún Airport, the largest tourist gateway in Mexico, the Caribbean, and Latin America; as well as six airports in northern Colombia, including Medellin international airport (Rionegro), the second busiest in Colombia. ASUR also holds a 60% interest in Aerostar Airport Holdings, LLC, operator of Luis Muñoz Marin International Airport in San Juan, the capital of Puerto Rico, the island’s primary international gateway. San Juan Airport was the first and remains the only major airport in the U.S. to have successfully completed a public –private partnership under the FAA Pilot Program. ASUR has recently expanded into airport commercial services through ASUR US, which partners with airports and airlines to deliver enhanced retail and passenger experiences. ASUR Airports operates at major U.S. hubs, including Los Angeles International, Chicago O’Hare, and John F. Kennedy International, and has historically shown competitive performance against U.S. commercial revenue benchmarks. Headquartered in Mexico, ASUR is listed on both the Mexican Bolsa (BMV) under the symbol ASUR, and on the NYSE in the U.S., where it trades under the symbol ASR. One ADS represents ten (10) B -series shares. For further 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 ASUR David Barlow +52-55-5284-0483 dbarlow@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 4Q25 Page 20 of 26 Passenger Traffic Breakdown by Airport Mexico Passenger Traffic 1 Fourth Quarter % Chg Twelve - Months % Chg 2024 2025 2024 2025 Domestic Traffic 5,041,425 5,017,120 (0.5) 19,808,950 19,695,686 (0.6) CUN Cancun 2,582,308 2,422,994 (6.2) 10,236,245 9,880,984 (3.5) CZM Cozumel 67,735 66,067 (2.5) 250,593 263,218 5.0 HUX Huatulco 160,522 159,702 (0.5) 700,493 656,251 (6.3) MID Merida 863,018 954,582 10.6 3,324,415 3,536,308 6.4 MTT Minatitlan 39,273 36,454 (7.2) 145,326 150,742 3.7 OAX Oaxaca 405,532 418,445 3.2 1,531,111 1,591,821 4.0 TAP Tapachula 152,559 123,454 (19.1) 603,218 495,278 (17.9) VER Veracruz 412,908 462,558 12.0 1,568,062 1,718,566 9.6 VSA Villahermosa 357,570 372,864 4.3 1,449,487 1,402,518 (3.2) International Traffic 5,063,945 5,097,212 0.7 21,611,380 20,900,043 (3.3) CUN Cancun 4,715,627 4,725,687 0.2 20,175,275 19,464,554 (3.5) CZM Cozumel 86,083 88,021 2.3 462,365 383,388 (17.1) HUX Huatulco 41,384 44,175 6.7 146,685 145,552 (0.8) MID Mérida 100,440 108,636 8.2 375,462 403,384 7.4 MTT Minatitlan 1,586 1,563 (1.5) 7,219 7,171 (0.7) OAX Oaxaca 72,404 75,650 4.5 256,317 273,146 6.6 TAP Tapachula 1,865 5,453 192.4 11,718 23,827 103.3 VER Veracruz 37,936 38,721 2.1 144,759 154,131 6.5 VSA Villahermosa 6,620 9,306 40.6 31,580 44,890 42.1 Total Traffic México 10,105,370 10,114,332 0.1 41,420,330 40,595,729 (2.0) CUN Cancun 7,297,935 7,148,681 (2.0) 30,411,520 29,345,538 (3.5) CZM Cozumel 153,818 154,088 0.2 712,958 646,606 (9.3) HUX Huatulco 201,906 203,877 1.0 847,178 801,803 (5.4) MID Merida 963,458 1,063,218 10.4 3,699,877 3,939,692 6.5 MTT Minatitlan 40,859 38,017 (7.0) 152,545 157,913 3.5 OAX Oaxaca 477,936 494,095 3.4 1,787,428 1,864,967 4.3 TAP Tapachula 154,424 128,907 (16.5) 614,936 519,105 (15.6) VER Veracruz 450,844 501,279 11.2 1,712,821 1,872,697 9.3 VSA Villahermosa 364,190 382,170 4.9 1,481,067 1,447,408 (2.3) US Passenger Traffic, San Juan Airport (LMM) Fourth Quarter % Chg Twelve - Months % Chg 2024 2025 2024 2025 SJU Total 1 3,199,545 3,100,354 (3.1) 13,247,382 13,643,686 3.0 Domestic Traffic 2,805,734 2,687,006 (4.2) 11,697,473 11,907,658 1.8 International Traffic 393,811 413,348 5.0 1,549,909 1,736,028 12.0 Colombia, Passenger Traffic Airplan Fourth Quarter % Chg Twelve - Months % Chg 2024 2025 2024 2025 Domestic Traffic 3,453,475 3,611,178 4.6 13,004,778 13,242,501 1.8 MDE Medellín (Rio Negro) 2,603,722 2,732,449 4.9 9,757,608 10,015,826 2.6 EOH Medellín 302,147 304,240 0.7 1,211,753 1,193,558 (1.5) MTR Montería 387,480 407,699 5.2 1,464,131 1,434,557 (2.0) APO Carepa 48,671 50,386 3.5 180,788 183,409 1.4 UIB Quibdó 91,719 103,623 13.0 340,695 362,612 6.4 CZU Corozal 19,736 12,781 (35.2) 49,803 52,539 5.5 International Traffic 979,904 1,073,790 9.6 3,646,782 4,077,863 11.8 MDE Medellín (Rio Negro) 979,904 1,073,790 9.6 3,646,782 4,077,863 11.8 EOH Medellín - - - - - - MTR Montería - - - - - - APO Carepa - - - - - - UIB Quibdó - - - - - - CZU Corozal - - - - - - Total Traffic Colombia 4,433,379 4,684,968 5.7 16,651,560 17,320,364 4.0 MDE Medellín (Rio Negro) 3,583,626 3,806,239 6.2 13,404,390 14,093,689 5.1 EOH Medellín 302,147 304,240 0.7 1,211,753 1,193,558 (1.5) MTR Montería 387,480 407,699 5.2 1,464,131 1,434,557 (2.0) APO Carepa 48,671 50,386 3.5 180,788 183,409 1.4 UIB Quibdó 91,719 103,623 13.0 340,695 362,612 6.4 CZU Corozal 19,736 12,781 (35.2) 49,803 52,539 5.5 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 4Q25 Page 21 of 26 Grupo Aeroportuario del Sureste, S.A.B. de C.V. Commercial Spaces ASUR Retail and Other Commercial Space Opened since December 31, 2024 1 Business Name Type Opening Date MEXICO Mérida Rubicela Ortiz Lopez Retail February 2025 Consorcio Operador Almond, SA de CV Car Rental March 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 Gustos Café Duty free March 2025 Tech on the Go by Dufry Food and Beverage May 2025 Cavu Duty free June 2025 Coco Santa Retail July 2025 Casita Kikuet Retail July 2025 Dufry Arrival Store Food and Beverage August 2025 Casita Kikuet Duty free September 2025 Quick Bites Food and Beverage November 2025 COLOMBIA Rionegro Santillana de Seguridad Vigilancia Privada Ltda Other Revenues March 2025 Kubi 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 Agencia de Viajes y Turismo Wetravel Co S.A.S Other Revenues October 2025 Securitas Colombia S.A Other Revenues November 2025 Miniso Colombia S.A.S Other Revenues November 2025 C.E. Logistica Integral S.A.S Other Revenues November 2025 Air Transat a.t. inc. Sucursal Colombia Other Revenues November 2025 Olaya Herrera Aero Ambulancias S.A.S Other Revenues January 2025 Globo Cambio Foreign Exchange S.A.S Banks and foreign exchange March 2025 Kubi Colombia S.A.S Teleservices April 2025 Phoenix Tower International Colombia Ltda. Teleservices August 2025 Departamento de Antioquia Other Revenues October 2025 Angie Lizeth Corredor Moncada Other Revenues November 2025 Miniso Colombia S.A.S Other Revenues November 2025 C.E. Logistica Integral S.A.S Other Revenues November 2025 Montería Phoenix Tower International Colombia Ltda. Teleservices February 2025 Kubi colombia S.A.S Teleservices April 2025 Securitas Colombia S.A Other Revenues November 2025 La S.A. Sociedad de Apoyo Aeronáutico Other Revenues December 2025 Corozal Kubi Colombia S.A.S Teleservices April 2025 Quibdó Icetex Other Revenues January 2025 Azteca Comunicaciones Colombia S.A.S Teleservices February 2025 Eurona Telecom Colombia S.A.S Teleservices April 2025 Kubi Colombia S.A.S Teleservices April 2025 Carepa Kubi 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 4Q25 Page 22 of 26 Item 4Q 2024 4Q 2024 Per Workload Unit 4Q 2025 4Q 2025 Per Workload Unit YoY % Chg. Per Workload Unit YoY % Chg. Mexico Cancun 1 Aeronautical Revenues 2,589,096 348.2 2,580,705 354.6 (0.3) 1.8 Non-Aeronautical Revenues 1,625,545 218.6 1,604,605 220.5 (1.3) 0.9 Construction Services Revenues 858,968 115.5 2,389,349 328.3 178.2 184.2 Total Revenues 5,073,609 682.3 6,574,659 903.4 29.6 32.4 Operating Profit 2,695,677 362.6 2,543,823 349.5 (5.6) (3.6) EBITDA 2,873,801 386.5 2,735,472 375.9 (4.8) (2.7) Merida Aeronautical Revenues 297,562 287.2 330,847 291.0 11.2 1.3 Non-Aeronautical Revenues 75,069 72.5 69,647 61.3 (7.2) (15.4) Construction Services Revenues 142,214 137.3 77,811 68.4 (45.3) (50.2) Other 2 27 - 70 0.1 159.3 n/a Total Revenues 514,872 497.0 478,375 420.8 (7.1) (15.3) Operating Profit 192,208 185.5 211,305 185.8 9.9 0.2 EBITDA 229,930 221.9 251,712 221.4 9.5 (0.2) Villahermosa Aeronautical Revenues 116,692 307.1 123,220 311.9 5.6 1.6 Non-Aeronautical Revenues 23,247 61.2 20,391 51.6 (12.3) (15.7) Construction Services Revenues 78,769 207.3 112,209 284.1 42.5 37.0 Other 2 24 0.1 21 0.1 (12.5) - Total Revenues 218,732 575.7 255,841 647.7 17.0 12.5 Operating Profit 72,008 189.5 78,683 199.2 9.3 5.1 EBITDA 85,310 224.5 92,761 234.8 8.7 4.6 Other Airports 3 Aeronautical Revenues 491,991 326.5 510,600 330.5 3.8 1.2 Non-Aeronautical Revenues 76,035 50.5 74,533 48.2 (2.0) (4.6) Construction Services Revenues 332,323 220.5 688,293 445.5 107.1 102.0 Other 2 66 - 70 - 6.1 n/a Total Revenues 900,415 597.5 1,273,496 824.2 41.4 37.9 Operating Profit 301,720 200.2 305,172 197.5 1.1 (1.3) EBITDA 366,922 243.5 372,856 241.3 1.6 (0.9) Holding & Service Companies 4 Construction Services Revenues - n/a - n/a n/a n/a Other 2 406,677 n/a 384,455 n/a (5.5) n/a Total Revenues 406,677 n/a 384,455 n/a (5.5) n/a Operating Profit 387,562 n/a 358,299 n/a (7.6) n/a EBITDA 387,565 n/a 358,302 n/a (7.6) n/a Consolidation Adjustment Mexico Consolidation Adjustment (406,794) n/a (384,616) n/a (5.5) n/a Total Mexico Aeronautical Revenues 3,495,341 337.5 3,545,372 342.4 1.4 1.5 Non-Aeronautical Revenues 1,799,896 173.8 1,769,176 170.9 (1.7) (1.7) Construction Services Revenues 1,412,274 136.3 3,267,662 315.6 131.4 131.5 Total Revenues 6,707,511 647.6 8,582,210 828.9 27.9 28.0 Operating Profit 3,649,175 352.3 3,497,282 337.7 (4.2) (4.1) EBITDA 3,943,528 380.7 3,811,103 368.0 (3.4) (3.3) San Juan Puerto Rico, US 5 Aeronautical Revenues 629,387 n/a 563,944 n/a (10.4) n/a Non-Aeronautical Revenues 495,222 n/a 496,692 n/a 0.3 n/a Construction Services Revenues 259,638 n/a 362,413 n/a 39.6 n/a Total Revenues 1,384,247 n/a 1,423,049 n/a 2.8 n/a Operating Profit 443,262 n/a 338,055 n/a (23.7) n/a EBITDA 648,840 n/a 525,264 n/a (19.0) n/a Consolidation Adjustment San Juan Consolidation Adjustment - n/a - n/a n/a n/a Colombia 6 Aeronautical Revenues 679,774 n/a 681,075 n/a 0.2 n/a Non-Aeronautical Revenues 229,922 n/a 272,957 n/a 18.7 n/a Construction Services Revenues 19,123 n/a 9,783 n/a (48.8) n/a Total Revenues 928,819 n/a 963,815 n/a 3.8 n/a Operating Profit 408,048 n/a (50,229) n/a (112.3) n/a EBITDA 518,918 n/a 530,760 n/a 2.3 n/a Consolidation Adjustment Colombia Consolidation Adjustment - n/a - n/a n/a n/a CONSOLIDATED ASUR Aeronautical Revenues 4,804,502 n/a 4,790,391 n/a (0.3) n/a Non-Aeronautical Revenues 2,525,040 n/a 2,538,825 n/a 0.5 n/a Construction Services Revenues 1,691,035 n/a 3,639,858 n/a 115.2 n/a Total Revenues 9,020,577 n/a 10,969,074 n/a 21.6 n/a Operating Profit 4,500,485 n/a 3,785,108 n/a (15.9) n/a EBITDA 5,111,286 n/a 4,867,127 n/a (4.8) n/a 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. 6 Reflects the results of operation of Airplan, Colombia, for 4Q25. 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 4Q25. 1 Reflect the operating results of Cancun Airport and four airport subsidiaries (Caribbean, CRF, ASUR Airports and ASUR US Commercial) on a consolidated basis. Grupo Aeroportuario del Sureste, S.A.B. de C.V. Operating Results per Airport Thousands of Mexican Pesos
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ASUR 4Q25 Page 23 of 26 Grupo Aeroportuario del Sureste, S.A.B. de C.V. Consolidated Statements of Financial Position as of December 31, 2025 and 2024 Thousands of Mexican Pesos Item December 2025 December 2024 Variation % Chg. Assets Current Assets Cash and Cash Equivalents 11,116,335 20,083,457 (8,967,122) (44.6) Cash and Cash Equivalents Restricted 2,095,031 2,043,625 51,406 2.5 Accounts Receivable, net 2,562,309 2,804,341 (242,032) (8.6) Document Receivable 100,696 100,696 - - Recoverable Taxes and Other Current Assets 2,509,251 623,892 1,885,359 302.2 Total Current Assets 18,383,622 25,656,011 (7,272,389) (28.3) Non Current Assets Investment in Financial Instrument - 1,537,688 (1,537,688) (100.0) Machinery, Furniture and Equipment, net 303,068 268,450 34,618 12.9 Investment Properties 10,197,152 - 10,197,152 - Intangible Assets, Airport Concessions and Goodwill-Net 58,973,840 55,886,163 3,087,677 5.5 investment Accounted by the Equity Metod 283,108 288,440 (5,332) (1.8) Total Assets 88,140,790 83,636,752 4,504,038 5.4 Liabilities and Stockholders' Equity Current Liabilities Trade Accounts Payable 624,412 325,701 298,711 91.7 Bank Loans and Short Term Debt 625,850 1,131,530 (505,680) (44.7) Accrued Expenses and Others Payables 3,741,326 4,429,775 (688,449) (15.5) Current Lease Liabilities 1,332,550 - 1,332,550 - Total Current Liabilities 6,324,138 5,887,006 437,132 7.4 Long Term Liabilities Bank Loans 18,396,343 2,163,853 16,232,490 750.2 Long Term Debt 8,464,370 10,064,073 (1,599,703) (15.9) Deferred Income Taxes 3,278,190 3,852,813 (574,623) (14.9) Employee Benefits 77,309 56,382 20,927 37.1 Non Current Lease Liabilities 5,194,074 - 5,194,074 - Total Long Term Liabilities 35,410,286 16,137,121 19,273,165 119.4 Total Liabilities 41,734,424 22,024,127 19,710,297 89.5 Stockholders' Equity Capital Stock 7,767,276 7,767,276 - - Legal Reserve 2,542,227 2,542,227 - - Mayority Net Income for the Period 10,488,903 13,551,429 (3,062,526) (22.6) Cumulative Effect of Conversion of Foreign Currency (788,686) 391,485 (1,180,171) (301) Retained Earnings 19,498,168 29,960,505 (10,462,337) (34.9) Non-Controlling interests 6,898,478 7,399,703 (501,225) (6.8) Total Stockholders' Equity 46,406,366 61,612,625 (15,206,259) (24.7) Total Liabilities and Stockholders' Equity 88,140,790 83,636,752 4,504,038 5.4 Exchange Rate per Dollar Ps. 18.0012
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ASUR 4Q25 Page 24 of 26 12M 12M % 4Q 4Q % 2024 2025 Chg 2024 2025 Chg Revenues Aeronautical Services 18,589,161 19,387,860 4.3 4,804,502 4,790,391 (0.3) Non-Aeronautical Services 9,895,327 10,499,263 6.1 2,525,040 2,538,825 0.5 Construction Services 2,848,299 7,350,308 158.1 1,691,035 3,639,858 115.2 Total Revenues 31,332,787 37,237,431 18.8 9,020,577 10,969,074 21.6 Operating Expenses Cost of Services 5,363,551 6,180,807 15.2 1,381,282 1,696,803 22.8 Cost of Construction 2,848,299 7,350,308 158.1 1,691,035 3,639,858 115.2 General and Administrative Expenses 319,638 346,047 8.3 94,759 79,719 (15.9) Technical Assistance 400,838 400,912 0.0 101,265 98,278 (2.9) Concession Fee 2,557,671 2,704,657 5.7 640,957 585,086 (8.7) Depreciation and Amortization 2,322,984 3,260,815 40.4 610,794 1,084,222 77.5 Total Operating Expenses 13,812,981 20,243,546 46.6 4,520,092 7,183,966 58.9 Other Revenues Operating Income 17,519,806 16,993,885 (3.0) 4,500,485 3,785,108 (15.9) Comprehensive Financing Cost 2,860,847 (2,029,610) (170.9) 788,478 (459,448) (158.3) Income from investment results Accounted by the Equity Method (7,760) (5,333) (31.3) (2,268) (2,148) (5.3) Income Before Income Taxes 20,372,893 14,958,942 (26.6) 5,286,695 3,323,512 (37.1) Provision for Income Tax 5,691,914 4,422,391 (22.3) 1,644,341 1,030,294 (37.3) Deferred Income Taxes 650,541 (388,146) n/a 52,637 (511,727) n/a Net Income for the Year 14,030,438 10,924,697 (22.1) 3,589,717 2,804,945 (21.9) Majority Net Income 13,551,429 10,488,903 (22.6) 3,414,581 2,713,713 (20.5) Non-Controlling Interests 479,009 435,794 (9.0) 175,136 91,232 (47.9) Earning per Share 45.1714 34.9630 (22.6) 11.3819 9.0457 (20.5) Earning per American Depositary Share (in U.S. Dollars) 25.0936 19.4226 (22.6) 6.3229 5.0251 (20.5) Exchange Rate per Dollar Ps. 18.0012 Grupo Aeroportuario del Sureste, S.A.B. de C.V. Consolidated Statement of Income from January 1 to December 31, 2025 and 2024 Thousands of Mexican Pesos Item
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ASUR 4Q25 Page 25 of 26 12M 12M % 4Q 4Q % 2024 2025 Chg 2024 2025 C hg Operating Activities Income Before Income Taxes 20,372,893 14,958,942 ( 26.6) 5,286,695 3,323,512 (37.1) Depreciation and Amortization 2,322,984 3,260,815 40.4 610,794 1,084,222 77.5 Income from Investment Results Accounted by the Equity Method 7,760 5,333 (31.3) 2,268 2, 148 (5.3) Interest Income (1,615,065) (1,440,337) (10.8) (350,135) (240,321) (31.4) Interest Payables 826,708 1,564,109 89.2 234,849 544,323 131.8 Foreign Exchange Gain (loss), Net Unearned (1,788,947) 767,115 n/a (436,367) (718,942) 64.8 Sub-Total 20,126,333 19,115,977 (5.0) 5,348,104 3,994,942 (25.3) Trade Receivables (427,670) 359,431 n/a (686,535) (1,493,401) 117.5 Recoverable Taxes and Other Current Assets (560,929) 1,154,447 n/a (95,502) 154,059 n/a Income Tax Paid (4,490,624) (6,619,371) 47.4 (847,167) (1,215,755) 43.5 Trade Accounts Payable 923,931 (1,152,609) n/a 745,828 905,431 21.4 Net Cash Flow Provided by Operating Activities 15,571,041 12,857,875 (17.4) 4,464,728 2,345,276 (47.5) Investing Activities Investment in Financial Instrument 281,261 1,537,688 446.7 (61,839) n/a Payment for Acquisition of the Subsidiary ASUR Airports, Net of Cash Acquired (5,573,118) n/a (5,573,118) n/a Restricted Cash (123,394) (51,406) (58.3) (65,737) 118,235 n/a Investments in Machinery, Furniture and Equipment, net (4,394,462) (7,807,852) 77.7 (2,532,698) (3,899,344) 54.0 Interest Income 1,483,246 1,439,022 (3.0) 319,415 240,016 (24.9) Net Cash Flow Used by Investing Activities (2,753,349) (10,455,666) 279.7 (2,340,859) (9,114,211) 289.4 Excess Cash to Use in Financing Activities 12,817,692 2,402,209 (81.3) 2,123,869 (6,768,935) (418.7) Bank Loans 20,390,000 n/a 10,890,000 n/a Restricted Cash (304,831) n/a (304,831) n/a Bank Loans Paid (544,047) (4,500,000) 727.1 (5,335) (4,500,000) 84,248.6 Long Term Debt Paid (224,914) (263,130) 17.0 - - - Interest Paid (938,155) (1,545,063) 64.7 (93,379) (445,379) 377.0 Dividends Paid (6,277,800) (24,000,000) 282.3 (4,500,000) n/a Non-Controlling Interests (628,609) (366,684) (41.7) (628,609) (366,684) (41.7) Net Cash Flow Used by Financing Activities (8,918,356) (10,284,877) 15.3 (1,032,154) 1,077,937 n/a Net Increase (Decrease) in Cash and Cash Equivalents 3,899,336 (7,882,668) n/a 1,091,715 ( 5,690,998) n/a Cash and Cash Equivalents at Beginning of Period 13,872,897 20,083,457 44.8 18, 483,601 16,259,295 (12.0) Exchange Gain on Cash and Cash Equivalents 2,311,224 (1,084,454) n/a 508,141 548,038 7.9 Cash and Cash Equivalents at the End of Period 20,083,457 11,116,335 (44.6) 20,083,457 11,116,335 (44.6) Grupo Aeroportuario del Sureste, S.A.B. de C.V. Consolidated Statement of Cash Flow for the Periods of January 1, to December 31, 2025 and 2024 Thousands of Mexican Pesos Item
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ASUR 4Q25 Page 26 of 26 Grupo Aeroportuario del Sureste, S.A.B. de C.V. Condensed Consolidated Balance Sheet of ASUR US Subsidiary as of December 31, 2025 Figures expressed in thousands of Mexican pesos Concept December 2025 Current and Non-Current Assets Cash and Cash Equivalents 425,163 Restricted Cash 54,004 Other Current Assets 421,065 Investment Properties 11,754,054 Goodwill 1,623,428 Total Assets 14,277,714 Current and Long-Term Liabilities Short-term Lease Liabilities 1,363,423 Other Current Liabilities 383,790 Long-term Lease Liabilities 6,720,103 Other Deferred Liabilities 102,413 Total Liabilities 8,569,729 Stockholder's Equity 5,643,584 Non- Controlling Interests 64,401