1. Annual Public General Meeting 2014 Financial Presentation May 7, 2015 VICTORIA INTERNATIONAL AIRPORT

2. 2014 Highlights VICTORIA INTERNATIONAL AIRPORT Net Income $6.6M - $1.04M or 18.5% ahead of budget Return on revenue (excluding amortization) – 47% 12 record passenger months Total passengers - 1,650,904 $1.8 million in debt retired $4.05M at year end Fixed charge ratio at year end - 4.47:1 2014 Capital Additions - $13.6 million

3. Cumulative Capital Investment Since Transfer ($ millions) VICTORIA INTERNATIONAL AIRPORT

4. 2014 Revenue $26.2 Million VICTORIA INTERNATIONAL AIRPORT

5. Non- Aeronautical Revenue Growth 2010 - 2014 VICTORIA INTERNATIONAL AIRPORT

6. Aviation Revenue $6.2 Million VICTORIA INTERNATIONAL AIRPORT Landing fees and terminal fees Landing fee per 1,000 kg of MTOW larger gauge aircraft = more $ Applies to jets and turbo prop aircraft Terminal fees = fee per landed seat: - $2.15 domestic - $3.66 transborder & international

7. VICTORIA INTERNATIONAL AIRPORT Q400 Aircraft

8. Landings VICTORIA INTERNATIONAL AIRPORT Landed Seats (2.7%) 3.2%

9. AIF Revenue - $8.0 Million VICTORIA INTERNATIONAL AIRPORT Can only be used for specified capital projects, debt repayment for AIF related borrowing and to pay the airline collection fees 7% handling fee paid to the airlines to collect the fee $580K in 2014 $12.2M spent on AIF capital projects in 2014

10. Revenue VICTORIA INTERNATIONAL AIRPORT

11. Expenses VICTORIA INTERNATIONAL AIRPORT

12. Net Income VICTORIA INTERNATIONAL AIRPORT

13. Statement of Financial Position VICTORIA INTERNATIONAL AIRPORT

14. Phase 2b Phase 4 Phase 6 Phase 8 Phase 5 Phase 7 Thank You! VICTORIA INTERNATIONAL AIRPORT