ALEATICA Corporate Presentation 2021
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ALEATICA
Corporate Presentation
2021
1
Index 1. Aleatica Mexico Investment Highlights 3 2. COVID-19 Update 11 3. Financial Highlights 13 4. Appendix 15
Aleatica Mexico Investment Highlights
Portfolio of high-quality long-term concessions improving transportation
1 mobility in Mexico
Assets serving as critical infrastructure in Mexico’s most densely populated
2 and dynamic regions
Strong financial and operating track record, leading to high free cash
3 flow conversion
Favorable concession frameworks offering robust downside protection
4 and upside potential from identified operational improvements
Experienced management team, driven to generate sustainable and growing
5 revenues
3
Aleatica Mexico Highlights
Portfolio of high-quality long-term concessions improving transportation mobility in
1 Mexico
Portfolio Overview
Aleatica Investment
Expiration
Granted Start of Distance Mexico’s IRR Contracted as of Dec
Concession of the Status
Year Operation (km) stake (real) Return Basis 2020
Concession
(%) (Ps$ mm)
110 km in
Conmex 2003 2005 2051 155 51.0% 10% Equity Invested 24,963
operation
Amozoc-Perote:
Amozoc-Perote Toll Road n.a. 2007 2063 105 69.2% n.a. None Operation 3,058
Perote Bypass n.a. 2004 2043 18 69.2% n.a. None Operation n.a.
22 Km in
Viaducto Bicentenario 2008 2009 2038 32 100% 7% Equity Invested 11,797
Operation
Puebla Bypass 2014 2016 2046 15 51.0% 10% Total Invested Operation 9,977
Urbana Norte 2010 2012 2042 10 100% 10% Total Invested Operation 11,548
Supervía Poetas 2010 2013 2043 7 50.0% 10% Total Invested Operation 7,241
Atizapán- Atlacomulco 2014 - 2044 77 100% n.a. None Construction 5,510
8 mm pax
Toluca Airport 2005 2006 2055 49.0% n.a. None Operation 4,164
(capacity)
Total length: 419 Total investment : 2
78,258
Summary
# Concessions 8
# of Urban Highways 4
Average Years in
13 years1
Operation
Average Concession
+27 years
Years Remaining
Total Investment2 Ps.$ 78,258 mm
1
Toll roads only. Source: Company Information (for more information please see 2020 Annual Report).
2 Figure represents the investment in infrastructure without the contractual returns (for more reference please see Company Financial Statements) and figures are net of amortization. 4
Aleatica Mexico Highlights (cont’d)
Assets serving as critical infrastructure in Mexico’s most densely populated and dynamic
2 regions
Metropolitan Area Footprint
Most of the concessions are located in one of the
most dynamic areas of Mexico, with higher
population and GDP growth potential than other
areas of the country
Conmex
Atizapán- Atlacomulco
Viaducto Bicentenario
Urbana Norte
Supervía Poetas
Toluca Airport
Other companies toll roads
Projects in study
Two road freeways
One road freeways
Airports
Points of interest
Mexico City
Urban Areas
5
Aleatica Mexico Highlights (cont’d)
3 Strong financial and operating track record, leading to high free cash flow conversion
Aleatica Mexico’s solid financial performance, inflation protected revenues, sustainable margins and costs
with decreasing leverage make it an attractive investment story
HIGHLIGHTS Toll road Revenues1 Toll road EBITDA1 Leverage
(in Ps.$ mm) (in Ps.$ mm) (in Ps.$ Bn)
Toll road Net Debt
ü Toll road revenues decreased 21.9% year EBITDA
margin Total Assets
on year in 2020, from Ps. 7,683 million to
$7,683 $158
Ps. 6,004 million. The decrease was $7,076
$6,055 $6,004 $5,721 $109 $105
primarily due to the mobility restrictions $5,053 $103
imposed in response to the COVID-19 $4,246 $4,045
74.5%
pandemic.
71.4%
70.1%
67.4%
ü 2020 toll road EBITDA decreased Ps.
1,676 million, reaching Ps. 4,045 million
on a 67.4% margin. This is 7.1 $23 $24 $26 $28
percentage points lower than the margin
in 2019. 2017 2018 2019 2020 2017 2018 2019 2020 2017 2018 2019 2020
Toll Revenues Breakdown Toll road EBITDA Breakdown
(in Ps.$ mm) (in Ps.$ mm)
Revenue Breakdown EBITDA Breakdown
2019
2019
Revenue Breakdown
$4,530 2020 EBITDA Breakdown
$3,949 $3,601 2020
$2,900
$1,038 $1,046 $972 $1,069 $759 $797
$536 $548 $315 $563 $483 $347
Conmex Viaducto Amozoc - Perote Urbana Norte Conmex Viaducto Amozoc - Perote Urbana Norte
Bicentenario Bicentenario
6
1
Consolidated Toll Revenues and Toll EBITDA, comprised of Conmex, Urbana Norte, Viaducto Bicentenario, and Amozoc-Perote
Aleatica Mexico Highlights (cont’d)
Favorable concession frameworks offering robust downside protection and upside
4 potential from identified operational improvements
Potential Upsides Key features of Aleatica Mexico's concessions
§ EBITDA margin expansion over time through tariff
increases and cost discipline § Tolls increased at least annually by inflation
§ Certain concessions have the right to increase tariffs
annually in real terms (above of inflation)
§ Well positioned assets in favorable locations with
potential for roadway expansion and linkages
§ Majority of Aleatica Mexico’s concessions are entitled
to earn a fixed, real rate of return on invested capital,
§ Operational improvements to increase capacity and providing downside protection against traffic
customer service and reduce travel times decreases or cost increases
§ Concession term extensions and/or additional tariff
§ Future investments to enhance the use of the current increases may be authorized to earn the contracted
infrastructure and its connectivity to other roads returns
Experienced and capable management team, driven to generate sustainable and growing
5 revenues
§ Over 15 years’ of experience developing and § Benefits from sharing of talent resources across
operating transportation infrastructure assets in global offices and knowledge sharing across IFM GIF’s
Mexico global portfolio
§ Demonstrated ability to work constructively with § Manages concession assets as a network, utilizing
concession grantors to achieve title amendments leading traffic monitoring technology
§ Creation of a “Safety First” culture focused on § Considers the needs of users and local communities
continuous improvement when developing sustainable, long-term plans
7
Aleatica Mexico Highlights (cont’d)
Portfolio of high-quality long-term concessions improving transportation mobility in
1 Mexico
Assets serving as critical infrastructure in Mexico’s most densely populated and dynamic
2 regions
3 Strong financial and operating track record, leading to high free cash flow conversion
Favorable concession frameworks offering robust downside protection and upside
4 potential from identified operational improvements
Experienced and capable management team, driven to generate sustainable and growing
5 revenues
ü These five traits portray the competitive advantages Aleatica Mexico has
over its peers.
ü The high-quality long-term concessions in the portfolio, alongside with
their strategic location, present value opportunities that cement our
position in the market.
ü Our team, one of our most valuable assets, will drive the sustainable
growth of our revenues, always keeping in mind our commitment to ESG.
ü Both financial and operating records sustain the strategy we visualize for
the Company.
8
Case Study: Conmex Concession Amendment
Aleatica Mexico recently reached an agreement to amend the concession title for the Conmex toll
road, providing a number of benefits for users and surrounding communities
Features of the Concession Amendment Tariff Schedule
Concession Despite the changes in the outlook for economic • In support of the family economy, the actual
term and growth and traffic a ‘zero balance’ grantor accumulated tariff increases forecast for this type of
contingent contingent liability is expected within the same vehicle will be significantly reduced
liability concession term • Between 2021 and 2023, this rate will only increase
Light with inflation plus 1-2% per year
vehicles • These adjustments will result in a reduction of more
Improvements to align with the requirements of
than 70% in the actual increases vs. pre-amendment
Performance international best practices, including strengthening
standards and acceleration of maintenance programs, in an
amount of Ps.$ 1,700 mm in the coming years • Adjustments based on dimension/axles were
established, such as an estimate of the weight that
determines the level of wear generated to the
highway
Investment Recognition of a total investment pending recovery • In addition, the rates were aligned with respect to
recognition by CONMEX of Ps.$ 52,653 mm as of July 1st, 2020 Heavy those applicable in other comparable highways,
vehicles including federal highways
Sustainability As part of the company's corporate values, Aleatica
and Social has reiterated its commitment to reinforce its No increases in rates are expected, in real terms, for either light or
Responsibility sustainability and social responsibility programs heavy vehicles, from 2024 onwards
9
Index 1. Aleatica Mexico Investment Highlights 3 2. COVID-19 Update 11 3. Financial Highlights 13 4. Appendix 15
Pandemic COVID-19 Initiatives
Global Measures
ü Aleatica has responded in an agile and effective manner to protect the safety and wellbeing of
employees and customers, and to ensure operational continuity during the COVID-19 pandemic
ü Aleatica devoted a significant effort to help employees and their families cope with the crisis from an
emotional standpoint. Management, with the support of the Aleatica Board, took several actions
that worked in unison to minimize the level of anxiety and to provide all the necessary tools to
effectively cope with the personal challenges brought about by the pandemic.
ü Aleatica waived e-tag activation costs to facilitate contactless travel, protecting both customers and
staff by avoiding 100,000 cash transactions
ü New safety measures implemented for workforce such as crew separation and frequent industrial-
grade sanitation of work areas
COVID-19 Aid Programs
Food assistance Hygiene and Collaboration
Sanitation
• Conmex completed • Hygiene kits were • Aleatica, in collaboration
delivery of food packages, delivered in the State of with the Mexican Red
and cooked menus for Mexico. By mid June, Cross, carried out the
6,568 beneficiaries of 1,315 families have been following aid actions:
vulnerable families in benefited, which
• 7 capsules delivered in
Ecatepec, from May to represents 95% of our
State of México, La Paz,
September 2020. goal.
Quintana Roo and Yucatán
• As part of its commitment • These kits also included
• Personal Protective
to social sustainability educational material,
Equipment for 200
and in support of families such as recommendations
Medical Staff
in Puebla who have been for use of products,
affected by COVID-19, games to reinforce • Accommodation for 20
Aleatica (through Puebla hygiene and cleaning tips medical staff in Polanco
Bypass) has delivered Hospital, CDMX for 4
1,000 kits with 20 months
essential items
In total, Aleatica’s aid programs have provided support for over 100,000 families
11Index 1. Aleatica Mexico Investment Highlights 3 2. COVID-19 Update 11 3. Financial Highlights 13 4. Appendix 15
Financial Highlights
General Overview
Figures in millions of pesos (except for Variation
2018 2019 2020
percentages) %*
Total revenues 8,245 9,415 6,750 -28.3%
Toll road revenues 7,076 7,683 6,004 -21.9%
Operating income 2,716 3,566 2,668 -25.2% ü During 4Q20, traffic and revenues from our Concessions had a
Operating margin 32.9% 37.9% 39.5% 160 bps relevant amount of growth, demonstrating an important recovery
in comparison to previous quarters that had suffered the effects of
Total EBITDA (1) 4,790 5,672 4,039 -28.8%
the restrictions associated with COVID-19 health measures.
Total road EBITDA 5,053 5,721 4,045 -29.3%
Total road EBITDA margin 71.4% 74.5% 67.4% (710 bps)
ü The company expects toll traffic and revenues to continue to
Consolidated net income -627 -98 -888 N/A
recover as the economy reactivates in the following months.
Consolidated net income-Controlling -553 -421 -932 N/A
participation
Total assets 108,839 104,636 103,273 -1.0% ü We are confident that our strategic pillars will strengthen our
position in the coming months.
Cash, cash equivalent, and restricted 10,424 8,158 7,651 -6.0%
trust funds
Total debt 37,825 37,975 39,193 3.0%
Stockholder’s Equity 60,103 56,826 54,703 -4.0%
* From 2019 to 2020
Toll Fees Breakdown Stock Information
Income from toll fees 2020 EBITDA from toll fees 2020
9% 12%
16% 9%
8%
9% 66%
72%
Cir cuito Ext erior Me xiquense Viaducto Bicente na rio Cir cuito Ext erior Me xiquense Viaducto Bicente na rio
Autopista Amozoc-Per ot e Autopista Ur bana Norte Autopista Amozoc-Per ot e Autopista Ur bana Norte
13Index
1. Aleatica Mexico Investment Highlights 3
2. COVID-19 Update 11
3. Financial Highlights 13
4. Appendix 15
4a. Aleatica Mexico Snapshot
4b. Company Portfolio
4c. Aleatica Global Snapshot & ESG
4d. IFMAleatica Mexico
Overview Geographic Footprint
ü One of the primary private infrastructure concession operators in
Mexico and leader in the Mexico City metropolitan area (both by
number of concessions and managed kilometers)
ü 7 toll roads totalling 413km in length, with six Concessions in
operation and one under construction
ü Minority interest in the Toluca International Airport
ü CONMEX, GANA and OPI have AAA and AA+ local investment
grade ratings
S&P H&R Fitch Moody’s
Conmex mxAAA -- AAA (mex) --
OPI mxAA- HR AA- (E) -- --
GANA -- HR AAA (E) AAA (mex) Baa1/Aa1.mx
Ownership Structure1
58.73% 41.27%
100.00%
Aleatica Magenta
Investments Infraestructura
67.88%
16.99% 13.84%
Aleatica
Float
S.A.B. de C.V.
1.29% (Treasury Shares)
Source: Company Information as of June 30, 2020. 15
1 IFM GIF is the indirect owner of 85.97% of Aleatica Mexico (excluding treasury shares)Aleatica Mexico
Corporate Structure
Magenta
Infraestructura, S.L.U.
86.01%
Aleatica,
S.A.B. de C.V.
51.00% 50.00% 51.00% 99.99%
99.99% 99.99% 99.99% 69.18%
Organización de Controladora Libramiento Administradora
Proyectos de Autopista Viaducto Concesionaria Grupo
Vía Rápida Elevado de de Acciones
Urbana Norte, Bicentanario, AT-AT, Autopistas
Infraestructura, Poetas, Puebla, Toluca
S.A. de C.V. S.A. de C.V. S.A. de C.V. Nacionales, S.A.
S.A.P.I. de C.V. S.A.P.I de C.V. S.A. de C.V. S.A. de C.V.
51.00% 49.00%
99.99% 69.18% 50.00% Administradora
99.99% Operadora
Concesionaria Construcciones Libramiento Mexiquense del
Conservación Operadora Vía
Mexiquense, Amozoc Rápida Poetas, Aeropuesto
MM Elevado de
S.A. de C.V. Perote, Puebla, Internacional de
S.A. de C.V. S.A.P.I. de C.V.
S.A. de C.V. Toluca
S.A. de C.V.
S.A. de C.V.
99.99% 99.99%
51.00% 99.99% 98.00%
69.18% Operadora OTM
OPCEM, Latina Seconmex
Manop. Concesionaria Servicios de
S.A.P.I. de México, Administración,
S.A. de C.V. Mexiquense, Pago,
C.V. S.A. de C.V. S.A. de C.V.
S.A. de C.V. S.A. de C.V.
16Index
1. Aleatica Mexico Investment Highlights 3
2. COVID-19 Update 11
3. Financial Highlights 13
4. Appendix 18
4a. Aleatica Mexico Snapshot
4b. Company Portfolio
4c. Aleatica Global Snapshot & ESG
4d. IFMCIRCUITO EXTERIOR
MEXIQUENSE (CONMEX) CONMEX
Current Situation
18Asset Detail – Conmex
Asset Characteristics Geographic Footprint
Asset 4 lanes (2 in each direction), 155 km length (110 in operation)
Grantor State of Mexico Government
Concessionaire Concesionaria Mexiquense, S.A. de C.V
Concession Period 2003 – 2051
Remaining Period 31 years
• Tolls escalate annually by inflation (INPC) of the previous year. Tolls can be
Tariff Regime adjusted during the year if inflation is greater than 5%.
• Additional real toll increases 2016-2023 according to the Concession Title.2
Contracted Return Equity IRR 10% (real terms)
Fee Paid to Grantor 0.5% of gross toll revenues
Total Investment1 Ps.$24,963 mm as of December 2020
Average Daily Traffic Toll road Revenues Toll road EBITDA
(Thousands of vehicles) (Ps.$ mm) (Ps.$ mm)
2014 283.2 2014 2,361 2014 1,651.3
2015 319.3 2015 2,940.9 2015 2,288.8
2016 337.2 2016 3,377.7 2016 2,639.0
2017 354.4 2017 3,702.0 2017 2,782.4
2018 355.4 2018 4,229.2 2018 3,137.7
2019 350.5 2019 4,530.4 2019 3,601.0
2020 289.8 2020 3,949.0 2020 2,900.0
Source: Company Information
1 Figure represents the investment in infrastructure without the contractual returns (for more reference please see Company Financial Statements). 19
2 For more information please see http://www.transparencia-aleatica.com.mx/Viaducto
Bicentenario VIADUCTO
Current Situation
20Asset Detail – Viaducto Bicentenario
Asset Characteristics Geographic Footprint
7 lanes Toreo – Lomas Verdes, 3 lanes Lomas Verdes – Tepalcapa
Asset
(Reversible); Length Phase I (22 km) and Phase II (4.3 km)
Grantor State of Mexico Government
Concessionaire Viaducto Bicentanario S.A. de C.V.
Concession Period 2008 – 2038
Remaining Period 18 years
• Tolls escalate annually by inflation (INPC) of the previous year. Tolls can be
Tariff Regime adjusted during the year if inflation is greater than 5%.
• Additional real toll increases 2013-2016 according to the Concession Title.2
Contracted Return Equity IRR 7% (real terms)
Fee Paid to Grantor 0.5% of gross toll revenues
Total Investment1 Ps.$11,797 mm as of December 2020
Average Daily Traffic Toll road Revenues Toll road EBITDA
(Thousands of vehicles) (Ps.$ mm) (Ps.$ mm)
2014 29.1 2014 465.5 2014 257.4
2015 32 2015 668.4 2015 443.3
2016 32.8 2016 720.4 2016 443.6
2017 32.7 2017 818.4 2017 533.9
2018 33.4 2018 990.7 2018 750.2
2019 33.3 2019 1,037.7 2019 759.4
2020 17.1 2020 535.9 2020 315.5
Source: Company Information
1 Figure represents the investment in infrastructure without the contractual returns (for more reference please see Company Financial Statements). 21
2 For more information please see http://www.transparencia-aleatica.com.mx/Urbana
Norte URBANA NORTE
Current Situation
22Asset Detail – Urbana Norte
Asset Characteristics Geographic Footprint
Asset 6-lane urban highway, with 9.8 km length LINK TO VIADUCTO
BICENTENARIO
1 1 E JÉRCITO
NACIONAL
Grantor Mexico City Government 2 3 4 4
REFORM A
CHAPULTEPEC I
2 3 5 7 9 CONSTITUYENTES
5 6 6 7 8 8 10
Concessionaire Autopista Urbana Norte, S.A. de C.V CONSCRIPTO
9
PALM AS 11 10
10
ALENCASTRE
12
Concession Period 2010 – 2042 OBSERVATORIO
CHAPULTEPEC II
VIADUCTO
Remaining Period 22 years
CHAPULTEPEC III
ELEVATED SAN ANTONIO 12
DEPRESSED
13
• Tolls escalate annually by inflation (INPC) of the previous year. VEHICLE ENTRY
VEHICLE EXIT LINK TO SEG UNDO PISO
Tariff Regime Tolls can be adjusted during the year if inflation is greater than 5%. DE PERIFÉRICO
• Yearly real toll increases according to the Concession Title.
Contracted Return Total Investment IRR 10% (real terms)
Fee Paid to Grantor 1% of gross toll revenues
Total Investment1 Ps.$11,548 mm as of December 2020
Average Daily Traffic Toll road Revenues Toll road EBITDA
(Thousands of vehicles) (Ps.$ mm) (Ps.$ mm)
2014 44.1 2014 422.3 2014 161.3
2015 50.4 2015 546.9 2015 255.9
2016 53.9 2016 690.4 2016 384.7
2017 55.2 2017 826.0 2017 528.0
2018 58.3 2018 975.4 2018 688.4
2019 58.1 2019 1,068.8 2019 797.2
2020 27.9 2020 547.9 2020 346.9
Source: Company Information 23
1
Figure represents the investment in infrastructure without the contractual returns (for more reference please see Company Financial Statements).AMOZOC-PEROTE
(GANA) GANA
Current Situation
24Asset Detail – Amozoc-Perote
Asset Characteristics Geographic Footprint
Asset 2-3 lanes (1 in each direction),123 km (Highway 105 km, Bypass 18 km)
Grantor Ministry of Communications and Transport (SCT)
Concessionaire Grupo Autopistas Nacionales, S.A. de C.V
Amozoc-Perote Toll Road 2003-2063
Concession Period
Perote Bypass 2003-2043
Remaining Period Amozoc-Perote Toll Road 43 years, Perote Bypass 23 years
• Tolls escalate annually by inflation (INPC) of the previous year.
Tariff Regime
• Additional real toll increases 2016-2021 according to the Concession Title.
Contracted Return N/A
Fee Paid to Grantor 0.5% of gross toll revenues
Total Investment1 Ps.$3,058 mm as of December 2020
Average Daily Traffic Toll road Revenues Toll road EBITDA
(Thousands of vehicles) (Ps.$ mm) (Ps.$ mm)
2014 2014 479.7 2014 267.2
31.2
2015 34.9 2015 548.2 2015 337.6
2016 37.7 2016 607.1 2016 352.1
2017 39.7 2017 709.0 2017 402.1
2018 43.7 2018 881.1 2018 476.6
2019 46.5 2019 1,046.3 2019 563.3
2020 39.6 2020 971.6 2020 482.9
Source: Company Information 25
1 Investment in infrastructure is net of accumulated amortization and FINFRA at 100% basis.SUPERVIA POETAS
(POETAS) POETAS
Current Situation
26Asset Detail – Supervia Poetas
Asset Characteristics Geographic Footprint
Asset 6-lane urban highway, Supervia 5.4 km length and Luis Cabrera 1.6 km (total 7 km)
Grantor Mexico City Government
Concessionaire Controladora Via Rapida Poetas, S.A. P.I. de C.V
Concession Period 2010 – 2043
Remaining Period 23 years
• Tolls escalate annually by inflation (INPC) of the previous year. Tolls can be
Tariff Regime adjusted during the year if inflation is greater than 5%.
• Additional real toll increase in 2015 according to government approvals.
Contracted Return Total Investment IRR 10% (real terms)
Fee Paid to Grantor 1% of gross toll revenues
Total Investment1 Ps.$7,241 mm as of December 2020
Average Daily Traffic Average Daily Traffic
Supervia Poetas Viadcuto Elevado L. Cabrera Toll road Revenues
(Thousands of vehicles) (Thousands of vehicles) (Ps.$ mm)
2016 44.6 2016 28.6 2016 744.2
2017 46.4 2017 30.9 2017 781.9
2018 48.7 2018 33.1 2018 919.5
2019 48.5 2019 32.9 2019 966.2
2020 24.6 2020 17.1 2020 517.3
Source: Company Information 27
1
Figure represents the investment in infrastructure without the contractual returns (for more reference please see Company Financial Statements).PUEBLA
BYPASS PUEBLA (LEP)
Current Situation
28Asset Detail – Puebla Bypass
Asset Characteristics Geographic Footprint
Asset 4-lane urban highway, with 15.3 km length
Grantor Government of the State of Puebla
Concessionaire Libramiento Elevado de Puebla, S.A. de C.V
Concession Period 2014 – 2046
Remaining Period 26 years
Tolls escalate annually by inflation (INPC) of the previous year. Tolls
Tariff Regime
can be adjusted during the year if inflation is greater than 5%.
Contracted Return Total Investment IRR 10% (real terms)
Fee Paid to Grantor 0.5% of gross toll revenues
Total Investment1 Ps.$9,977 mm as of December 2020
Average Daily Traffic Toll road Revenues
(Thousands of vehicles) (Ps.$ mm)
2016 28.4 2016 99.7
2017 34.3 2017 552.3
2018 31.9 2018 519.7
2019 33.1 2019 580.4
2020 28.6 2020 530.3
Source: Company Information 29
1
Investment in infrastructure is net of accumulated amortization and at 100% basis.Index
1. Aleatica Mexico Investment Highlights 3
2. COVID-19 Update 11
3. Financial Highlights 13
4. Appendix 31
4a. Aleatica Mexico Snapshot
4b. Company Portfolio
4c. Aleatica Global Snapshot & ESG
4d. IFMAleatica Global Snapshot
Aleatica Global Overview Aleatica Global Highlights
• Aleatica S.A.U. (“Aleatica Global”) is a pure transportation • 14 toll roads (1,076 km), 3 ports (71 ha), 1 airport and 1
infrastructure operator with a global presence covering Spain railway
and key markets in Latin America (Headquarters in Madrid).
• Long-term portfolio of concessions with high quality asset
• Aleatica Global owns and operates 19 infrastructure condition (30 years of average remaining concession term in toll
concessions in 5 countries, including toll roads, ports, light rail roads)
trains and one airport, and recently announced the acquisition
• Low execution risk with almost all concessions in operation
of a controlling interest in a 62km toll road in Italy.
• Many years of proven expertise in successfully developing and
• During April 2018, IFM Global Infrastructure Fund (“IFM
GIF”), managed by IFM Investors Pty Ltd (“IFM Investors”), operating new concessions
acquired 100% of Aleatica Global. • Local currency non-recourse financing for projects, with no
exchange rate risk and limited recourse to Aleatica Global during
the construction period
Aleatica Mexico Highlights Geographic Footprint
• Aleatica S.A.B. de C.V. (“Aleatica Mexico”) manages a
portfolio of critical transportation assets, connecting regions
and cities with attractive growth potential across Mexico.
• Aleatica Mexico has been listed on the Mexican Stock
Exchange (“BMV”) since 2010 and is part of the FTS4Good
Latin America Emerging Markets Index.
• Some of Aleatica Mexico’s key highlights include:
ü Portfolio composes 7 toll roads and 1 airport
ü Over Ps.$75 billion (c. US$3.3 billion) invested as of
December 31, 20191
ü 413 km of urban and interstate highways
ü 491,017 equivalent daily traffic during 2019
ü >400,000 e-toll payment transactions per day
31
1 Figure represents the investment in infrastructure without the contractual returns (for more reference please see Company Financial Statements).IFM Investors Overview
IFM Global Infrastructure Fund (IFM GIF), an open-end fund managed by IFM Investors,
is the indirect owner of 85.97% of Aleatica Mexico1
Company Background Global Infrastructure Team
of 97 Professionals
Investment Team
• Infrastructure specialists
• Origination and agile transactional capability
IFM Investors’ purpose is to protect and grow the long-term • Deal team continues to be responsible for asset
retirement savings of working people. management, ensuring alignment and continuity
• Deep sector knowledge
ü IFM GIF’s open-end structure allows IFM Investors to take a long-term
approach to investment and active asset management
Asset Management Specialists
ü Invested in CONMEX since 2015, IFM Investors has developed close • Specialists that support the investment team for
relationships with Aleatica’s management by working collaboratively to value creation across portfolio
implement numerous operational, financial, and safety initiatives • Managing key asset risks
• Enhancing asset performance
ü IFM GIF currently has interests in 32 infrastructure investments across 2
• Leveraging portfolio’s scale to generate synergies
open-end infrastructure funds, including 1,375km of toll roads globally2
Asset Management Approach Portfolio Management
• Dedicated team focused on improving efficiency of
IFM Investors provides operational expertise - and the team’s experience portfolio
in finance, engineering and concession management - to add value to its • Portfolio insight and risk analysis
infrastructure portfolio. • Determining optimal asset allocations
• FX, structuring and liquidity management
1 Protect - Manage risks & deliver investment case
By promoting effective standards for key management practices
2 Enhance – Actively improve the value of individual assets
20+ 10+
By challenging management to achieve “best in class” performance Languages Spoken Average years tenure at IFM
3 Exceed – Seek to achieve higher than expected returns
By leveraging the IFM portfolio – synergies, scale, relationships
21 200+
Average years of industry Support staff across
experience3 Legal, Tax & Operations
As of June 30, 2020.
1 Excluding treasury shares of Aleatica Mexico
2
Inclusive of roads currently under construction 32
3 Representative of employees who are Director and above in titleESG: Aleatica Global’s Five Strategic Pillars
Focused on achieving superior business performance across financial and operational measures, always
guided by our five strategic pillars that are indispensable for the sustainability of our business.
Social and Transparency and
Safety Excellence in Talented World-
Environmental Corporate
First Service Class Team
Sustainability Governance
• Enhanced safety and • Devote the best technical • Develop state-of-the-art • Aleatica focuses on • Excellence can only come
security standards for knowledge to reduce technology that enhances increasing transparency in from our employees, who
users and employees social and environmental capacity to deliver its operations, setting represent our values and
impact during operation excellence in service new corporate ethics carry out our corporate
• Aleatica Labs, a subsidiary guidelines, and following culture on a daily basis
of Aleatica, works to • Develop technological • Technological solutions the best global practices
complete physical and initiatives and promote provided by our team in corporate governance, • Intrapreneurship
digital infrastructure collaborative solutions include intelligent leveraging the experience initiatives are encouraged
integration with a focus aimed at sustainable transport systems for safe of its controlling among our teams by
on prediction, detection mobility and energy and sustainable shareholder, IFM Investors establishing clear targets
and timely attention to efficiency operations and challenges
events • Aleatica conducted a
• The implementation of a • Avant-garde toll payment pioneering transparency • This part of our corporate
• Numerous initiatives have reversible lane at systems, real-time effort in Mexico by culture has enabled
improved employee safety Viaducto Bicentenario information for our publishing the titles and improvements in our
such as enhanced toll reduced evening customers and business modifications of two of its working processes and
booth protections and commutes by up to 30 intelligence applied to big concessions and creating a utilized technology to
truck-mounted impact minutes, leading to CO2 data for improved dedicated transparency optimize our operations
‘cushions’ to protect work savings from improved knowledge of client needs platform
zones traffic flows
33Index
1. Aleatica Mexico Investment Highlights 3
2. COVID-19 Update 11
3. Financial Highlights 13
4. Appendix 35
4a. Aleatica Mexico Snapshot
4b. Company Portfolio
4c. Aleatica Global Snapshot & ESG
4d. IFMIFM Investors
IFM Investors’ purpose is to protect and grow the long-term retirement savings of working people
IFM takes a proactive
approach to asset
IFM Global Infrastructure
management, working closely
Investing on behalf of Global offices with presence Fund’s (IFM GIF) open-end
with the management teams
pension funds representing in Melbourne, New York, fund structure allows it to
of its portfolio companies and
30+ million members and London, Sydney, Berlin, take a long-term approach to
providing support across
other institutional investors Tokyo, Hong Kong, Seoul, investment, providing the
cost, budgeting, safety, risk,
(US$109 billion in AUM) and Zurich flexibility to focus on high
cybersecurity, strategy and
value long-lasting projects
planning, finance, and ESG,
amongst other areas
Global infrastructure team of
97 professionals with an
average of 21 years of IFM GIF currently has IFM has been invested in
industry experience1 and a interests in 32 infrastructure Robust and capable team Conmex since 2015, working
diverse skill set covering investments across 2 open- dedicated to managing IFM’s with its management team
investment, operations, end infrastructure funds, toll road assets with and supporting Aleatica
finance, communications and including 1,375km of toll significant sector experience through value-add initiatives
public affairs, and HR/labor roads globally2
relations
As of June 30, 2020.
1 Representative of employees who are Director and above in title 35
2
Inclusive of roads currently under constructionIFM Investors (cont’d)
With a track record over 25 years, IFM Investors is an established
infrastructure equity manager with global scale
Established & owned
32 infrastructure investments within two funds and 9 global offices
by 27 pension funds
US$109 billions invested in 4
assets classes
Global Infrastructure fund Australian Infrastructure Fund
Infrastructure Equity (GIF) incepted in December (AIF) incepted in August 1995;
2004; 17 portfolio companies 15 portfolio companies
Debt Investments
US$ 109 bn
Listed Equities
Offices located in:
Private Equity New York | Berlin | Melbourne | Hong Kong |
London | Zurich | Sydney | Seoul | Tokyo
36
As of June 30, 2020.Disclaimer This material has been prepared by Aleatica, S.A.B. de C.V. (“Aleatica” or the “Company”) or by any of its affiliates for information purposes only as of the date of this presentation, it is not illustrative of any transaction, and is distributed for information purposes only. The information contained herein is public, comes from public sources or is informative in nature. Certain information contained herein has been derived, however, from sources prepared by third parties. All material information included herein in connection with Aleatica has been disclosed through the Mexican Stock Exchange and is available at www.bmv.com.mx or otherwise maintained by the Company in accordance with applicable law. This material should not be relied upon as advice of any sort. No representation or warranty, either express or implied, is made as to the accuracy, reliability or completeness of the information presented herein. This material should not be regarded by recipients as a substitute for the exercise of their own judgment. Any opinion expressed herein is subject to change without notice, and the Company is under no obligation to update or keep current the information herein. The Company and its affiliates, agents, directors, partners and employees accept no liability whatsoever for any loss or damage of any kind arising out of the use of all or any part of this material. This presentation contains statements that are forward-looking, which are statements other than statements of historical fact and are often characterized by the use of words such as “believes”, “expects”, “estimates”, “projects”, “may”, “will”, “intends”, “plans” or “anticipates”, and similar terms and phrases or by discussions of strategy, plans or intentions, and may include reference to assumptions. Such forward-looking statements are based on current expectations and projections about future events and trends that may affect the Company’s business and are not guarantees of future performance. Readers are cautioned that any such forward-looking statements are and will be, as the case may be, subject to many risks, uncertainties and other factors that are difficult to predict and could cause results to differ materially from those expressed in forward-looking statements. Readers are cautioned not to place undue reliance on forward- looking statements. This presentation does not constitute or form part of an offer, or invitation, or solicitation of an offer, to subscribe for or purchase any securities nor is it an invitation to carry out investment activities, nor does it constitute the basis, in whole or in part, for the execution of any agreement or commitment of any kind. Specifically, this presentation does not constitute a placement prospectus (prospecto de colocación) or equivalent document. Neither this presentation nor anything contained herein shall form the basis of any contract or commitment whatsoever. Recipients of this presentation are not to construe the contents of this summary as legal, tax or investment advice and recipients should consult their own advisors in this regard. You should not construe any statement regarding past trends or activities as a representation that the trends or activities will continue in the future. Accordingly, you should not put undue reliance on these statements. This presentation is not intended to constitute, and should not be construed as investment advice. Neither Aleatica, nor its respective affiliates, advisors, or representatives, will be liable (in negligence or for any other reason) for any loss or damage that occurs from any use of this document or its contents, or that is in any other way connected with it. By attending this presentation you agree to be bound by the foregoing limitations and not to distribute, disclose or provide any information discussed in this presentation to any other person.
Investor Relations
Planning and Investor Relations Office
55 5003 9552
inversionistas.mx@aleatica.com
Address
Boulevard Manuel Ávila Camacho nº 5, Toreo Parque Central,
Torre A, piso 12, col. Lomas de Sotelo, C.P. 53390, Naucalpan
de Juárez, Estado de México
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