1. The MDI Mechanism MDI allows for a variable term of the concession, based on enplaned passenger revenues only (12.2% of total revenues). There is a maximum extension of 78 months. Passenger Traffic risk of the concession is substancially mitigated.

2. The MDI Mechanism Offered by MOP Chosen Option: Low traffic growth rate –5.0% growth rate for domestic passenger traffic. –5.5% growth rate for international passenger traffic. –Total guaranteed enplaned passenger revenues: UF 1,190,024 (calculated using a higher base year 2003 due to the September 11th terrorist attacks). –Premium: UF 833,017 (USD 22.3 million)

3. The MDI Mechanism This Agreement establishes a Revenue Distribution Mechanism (the MDI Mechanism): The MDI Mechanism guarantees to the Concessionaire a present value of emplanement fee revenues (YTG) of UF 1.190.024 discounted @ 9.5%. The YTG is calculated by applying: –5% annual growth rate to the domestic enplaned passenger revenues in year 2003 plus 6.39% until the end of the original Concession. –5.5% annual growth rate to the international enplaned passenger revenues in year 2003 plus 9.13% until the end of the original Concession The Concession ends when the Guaranteed Emplanement Fee Revenues (YTG) are reached. The cost of this Mechanism is UF 833.017.

4. Total Guaranteed Revenues Option #2 Option #1 SCL has chosen the low traffic growth rate t Enplaned Pax. tariff. [UF] IoIo 2003 Original term of the concession (2013) The MDI Mechanism

5. t IoIo 2003 Demand trend The MDI Mechanism Enplaned Pax. tariff. [UF] Total Guaranteed Revenues Case 1: The concession ends before the original term (equivalent to an annual traffic growth rate higher than 9.4%) Original term of the concession (2013) Equivalent to 9.4% annual traffic growth rate

6. Original term of the concession (2013) Total Guaranteed Revenues Case 2: The concession ends after the original term (lower than 9.4% annual traffic growth rate) t IoIo 2003 Operational and Maintenance cost (agreed upon today) Difference needed to complete the guaranteed revenues. Demand trend The MDI Mechanism Enplaned Pax. tariff. [UF]

7. The MDI Mechanism: Advantages & Benefits Strong mitigation of traffic risk. Provides financiability to the project. Shareholder’s possibility of loosing equity is greatly diminished. Extremely low probability of an ultimate loss.