Corporación América Airports (CAAP) Corporate Presentation summary

Diversified global airport portfolio

• Operates 52 airports across 6 countries, serving 79 million passengers in 2024 with a market cap of $3.5 billion and an 18% free float.

• Major operations in Argentina, Armenia, Brazil, Ecuador, Italy, and Uruguay, with Argentina accounting for the largest share of passengers and EBITDA.

• Holds controlling interests in most investments, with key concessions extending into the 2030s and 2040s.

• Concession agreements feature a mix of single till, dual till, and inflation-based regulatory regimes.

• Recent extensions include 10- and 20-year additions to key concessions in Argentina, Uruguay, and Italy.

Strong growth and operational track record

• Passenger traffic has rebounded above pre-COVID levels in most markets, with Armenia at 177%, Italy at 118%, and Argentina at 108% of February 2019 volumes.

• 25+ years of expansion, including new terminals, concession extensions, and strategic divestments.

• 11.3% CAGR in total traffic from 2010 to 2019, with continued growth expected.

• Ongoing infrastructure investments in key airports, such as Ezeiza (Argentina), Montevideo (Uruguay), and Florence (Italy).

Premium assets and value creation

• Operates flagship airports like Buenos Aires-Ezeiza, Montevideo, Brasilia, Guayaquil, Pisa, Florence, and Yerevan, many with inflation-linked or high-IRR concession agreements.

• Florence Airport expansion: €497 million investment to increase capacity to 8 million passengers by 2028, partially government-financed.

• Zvartnots (Yerevan) Airport: $425 million capex program to expand capacity to 10 million passengers by 2028.

• Real estate and commercial development initiatives drive non-aeronautical revenue growth.

• Selective pursuit of new opportunities in Angola and Montenegro.