<SEC-DOCUMENT>0001193125-13-159280.txt : 20130418
<SEC-HEADER>0001193125-13-159280.hdr.sgml : 20130418
<ACCEPTANCE-DATETIME>20130417200229
ACCESSION NUMBER:		0001193125-13-159280
CONFORMED SUBMISSION TYPE:	SC 13D/A
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20130418
DATE AS OF CHANGE:		20130417
GROUP MEMBERS:		INFRAESTRUCTURA Y TRANSPORTES MEXICO, S.A. DE C.V.

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Pacific Airport Group
		CENTRAL INDEX KEY:			0001347557
		STANDARD INDUSTRIAL CLASSIFICATION:	AIRPORTS, FLYING FIELDS & AIRPORT TERMINAL SERVICES [4581]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			O5
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-81664
		FILM NUMBER:		13767989

	BUSINESS ADDRESS:	
		STREET 1:		AVENIDA MARIANO OTERO NO. 1249, PISO 6
		STREET 2:		COL. RINCONADA DEL BOSQUE
		CITY:			GUADALAJARA, JALISCO
		STATE:			O5
		ZIP:			45140
		BUSINESS PHONE:		(52)(33) 3880-1100

	MAIL ADDRESS:	
		STREET 1:		AVENIDA MARIANO OTERO NO. 1249, PISO 6
		STREET 2:		COL. RINCONADA DEL BOSQUE
		CITY:			GUADALAJARA, JALISCO
		STATE:			O5
		ZIP:			45140

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Grupo Mexico, S.A.B. de C.V.
		CENTRAL INDEX KEY:			0001042701
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		SC 13D/A

	BUSINESS ADDRESS:	
		STREET 1:		CAMPOS ELISEOS NO. 400
		STREET 2:		COLONIA LOMAS DE CHAPULTEPEC
		CITY:			MEXICO CITY MEXICO
		STATE:			O5
		ZIP:			11000
		BUSINESS PHONE:		011525652640036

	MAIL ADDRESS:	
		STREET 1:		CAMPOS ELISEOS NO. 400
		STREET 2:		COLONIA LOMAS DE CHAPULTEPEC
		CITY:			MEXICO CITY MEXICO
		STATE:			O5
		ZIP:			11000

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GRUPO MEXICO SA DE CV /FI
		DATE OF NAME CHANGE:	19971223
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13D/A
<SEQUENCE>1
<FILENAME>d521778dsc13da.htm
<DESCRIPTION>AMENDMENT NO. 21 TO SCHEDULE 13D
<TEXT>
<HTML><HEAD>
<TITLE>Amendment No. 21 to Schedule 13D</TITLE>
</HEAD>
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 <P STYLE="line-height:0px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #000000">&nbsp;</P>
<P STYLE="line-height:3px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="3"><B>SECURITIES AND EXCHANGE
COMMISSION </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="3"><B>WASHINGTON, D.C. 20549 </B></FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="3"><B>SCHEDULE 13D </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="3">(Amendment No. 21)* </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="3"><B>Under the Securities Exchange Act of 1934 </B></FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="3"><B>PACIFIC AIRPORT GROUP </B></FONT></P> <P STYLE="line-height:1px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><I>(Name of Issuer) </I></FONT></P> <P STYLE="margin-top:24px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="3"><B>GRUPO AEROPORTUARIO DEL PAC&Iacute;FICO, S.A.B. DE
C.V. </B></FONT></P> <P STYLE="line-height:1px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>(Exact Name
of Issuer as Specified in its Charter) </I></FONT></P> <P STYLE="margin-top:24px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="3"><B>SERIES B SHARES </B></FONT></P>
<P STYLE="line-height:1px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>(Title of Class of Securities)
</I></FONT></P> <P STYLE="margin-top:24px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="3"><B>400506101 </B></FONT></P>
<P STYLE="line-height:1px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>(CUSIP Number) </I></FONT></P>
<P STYLE="margin-top:24px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="3">Daniel Mu&ntilde;iz Quintanilla </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="3">Chief Financial Officer of Grupo M&eacute;xico, S.A.B. de C.V. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="3">Attorney-in-Fact of
Infraestructura y Transportes M&eacute;xico, S.A. de C.V. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="3">Grupo M&eacute;xico, S.A.B. de C.V. </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="3">Campos El&iacute;seos&nbsp;No. 400 </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="3">Colonia Lomas de Chapultepec </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="3">M&eacute;xico City, M&eacute;xico 11000 </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="3">011-5255-1103-5000 </FONT></P> <P STYLE="line-height:1px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000">&nbsp;</P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) </I></FONT></P>
<P STYLE="margin-top:24px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="3">April 16, 2013 </FONT></P> <P STYLE="line-height:1px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000">&nbsp;</P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>(Date of Event Which Requires Filing of this Statement) </I></FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:5%"><FONT
STYLE="font-family:Times New Roman" SIZE="3">If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of sections 240.13d-1(e),
240.13d-1(f) or 240.13d-1(g), check the following box.&nbsp;&nbsp;[&nbsp;&nbsp;&nbsp;&nbsp;] </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:5%"><FONT STYLE="font-family:Times New Roman" SIZE="3">Note: Schedules filed in paper
format shall include a signed original and five copies of the schedule, including all exhibits. See Section 240.13d-7 for other parties to whom copies are to be sent.<B></B> </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:5%"><FONT
STYLE="font-family:Times New Roman" SIZE="3">* The remainder of this cover page shall be filled out for a reporting person&#146;s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment
containing information which would alter disclosures provided in a prior cover page. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:5%"><FONT STYLE="font-family:Times New Roman" SIZE="3">The information required on the
remainder of this cover page shall not be deemed to be &#147;filed&#148; for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;) or otherwise subject to the liabilities of that section of the
Exchange Act but shall be subject to all other provisions of the Exchange Act (however, see the Notes). </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<P STYLE="line-height:0px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #000000">&nbsp;</P> <P STYLE="line-height:3px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Page 1 of 6
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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">This Amendment No.&nbsp;21 is being filed by Grupo M&eacute;xico, S.A.B. de C.V.
(&#147;Grupo M&eacute;xico&#148;) and Infraestructura y Transportes M&eacute;xico, S.A. de C.V., Grupo M&eacute;xico&#146;s 75.0%-owned subsidiary (&#147;ITM&#148; and together with Grupo M&eacute;xico, the &#147;Reporting Persons&#148;), with
respect to the Series B Shares, without par value (the &#147;Shares&#148;), of Pacific Airport Group (the &#147;Issuer&#148;), and it hereby amends the statement of beneficial ownership on Schedule 13D originally filed on July&nbsp;9, 2010, as
further amended on July&nbsp;12, 2010,&nbsp;July&nbsp;13, 2010,&nbsp;August&nbsp;13, 2010,&nbsp;August&nbsp;25, 2010,&nbsp;September&nbsp;22, 2010,&nbsp;October&nbsp;12, 2010,&nbsp;January&nbsp;25, 2011,&nbsp;February&nbsp;16,
2011,&nbsp;March&nbsp;15, 2011,&nbsp;April&nbsp;12, 2011,&nbsp;June&nbsp;14, 2011,&nbsp;July&nbsp;6, 2011,&nbsp;July&nbsp;13, 2011,&nbsp;July&nbsp;28, 2011,&nbsp;August&nbsp;11, 2011,&nbsp;October&nbsp;3, 2011,&nbsp;November&nbsp;14,
2011,&nbsp;December&nbsp;5, 2011,&nbsp;January&nbsp;30, 2012 and April&nbsp;10, 2013 (collectively with this Amendment No.&nbsp;21, the &#147;Schedule 13D&#148;). Capitalized terms used herein and not defined herein have the meanings ascribed
thereto in the Schedule 13D. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Item&nbsp;4. Purpose of Transaction </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Item&nbsp;4 is hereby supplemented by adding the following: </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%;padding-bottom:0px; "><FONT STYLE="font-family:Times New Roman" SIZE="2">On April&nbsp;16, 2013, Grupo M&eacute;xico delivered a letter to certain holders of ADS and Shares (the &#147;April
16</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">th</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"> Shareholder Letter&#148;), asking them to vote
&#147;for&#148; all proposals included in the agenda for the Issuer&#146;s General Ordinary Shareholders&#146; Meeting to be held on April&nbsp;23, 2013 (the &#147;April 23</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP
STYLE="vertical-align:baseline; position:relative; bottom:.8ex">rd</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"> Shareholders&#146; Meeting&#148;). As previously reported, the April&nbsp;23</FONT><FONT
STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">rd</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"> Shareholders&#146; Meeting is being held at the request of Grupo
M&eacute;xico. All proposals included in the agenda for the April&nbsp;23</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">rd</SUP></FONT><FONT
STYLE="font-family:Times New Roman" SIZE="2"> Shareholders&#146; Meeting were put forth by Grupo M&eacute;xico. The April&nbsp;16</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP
STYLE="vertical-align:baseline; position:relative; bottom:.8ex">th</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"> Shareholder Letter includes several proposals, including one to require that the Issuer cease to enforce bylaws that
Grupo M&eacute;xico believes are inconsistent with applicable Mexican law, including those that purport to (i)&nbsp;limit the ability of a holder of Shares, other than Aeropuertos Mexicanos del Pac&iacute;fico, S.A. de C.V. (&#147;AMP&#148;) (the
controlling shareholder of the Issuer), to own in excess of 10.0% of the total outstanding Issuer Equity Shares, (ii)&nbsp;limit the exercise of voting rights with respect to Shares owned in excess of 10.0% of the total outstanding Issuer Equity
Shares, and (iii)&nbsp;preclude any person, other than AMP, from seeking a change of control of the Issuer. At the April&nbsp;23</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP
STYLE="vertical-align:baseline; position:relative; bottom:.8ex">rd</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"> Shareholders&#146; Meeting, Grupo M&eacute;xico also intends to ask that the shareholders of the Issuer approve the
appointment of an independent representative of the shareholders to undertake an independent investigation to determine if certain of the Issuer&#146;s directors and its senior executive officers, including Mr.&nbsp;Bosque Moh&iacute;no, the Chief
Executive Officer of the Issuer, have engaged in wrongful acts to the detriment of the Issuer that may result in such directors and officers being liable to the Issuer and its minority shareholders. Grupo M&eacute;xico intends to have discussions
with the Issuer&#146;s management, directors, other shareholders and third parties in connection with these and other matters set forth in the April&nbsp;16</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP
STYLE="vertical-align:baseline; position:relative; bottom:.8ex">th</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"> Shareholder Letter. A copy of the April&nbsp;16</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP
STYLE="vertical-align:baseline; position:relative; bottom:.8ex">th</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"> Shareholder Letter is filed as Exhibit 1 hereto and is incorporated by reference into this Item&nbsp;4. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">As previously reported, the Reporting Persons may continue to seek, including, but not limited to, via shareholder action or legal
proceedings, the amendment of the bylaws of the Issuer that the Reporting Persons believe are inconsistent with applicable Mexican law and may continue to seek to nominate the number of members to the Board of Directors of the Issuer to which it
believes it is entitled commensurate with the Reporting Persons&#146; beneficial ownership of the Issuer&#146;s Equity Shares at any given time. The Reporting Persons may have discussions with the Issuer&#146;s management, directors and other
shareholders and third parties in connection with these and other matters relating to the Issuer. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">As previously reported,
Grupo M&eacute;xico announced on June&nbsp;13, 2011 that its Board of Directors had approved the acquisition (directly or indirectly) of more than 30.0% and up to 100.0% of the Issuer Equity Shares then outstanding, excluding treasury shares, and
that in connection with any such transaction, Grupo M&eacute;xico would be required to launch a mandatory public tender offer, or OPA (an &#147;OPA&#148;), for up to 100% of the Issuer Equity Shares then outstanding, in accordance with Mexican
securities laws and any other applicable laws. As previously reported, the Reporting Persons had applied for Mexican National Banking and Securities Commission (<I>Comisi&oacute;n Nacional Bancaria y de Valores</I>) (&#147;CNBV&#148;) authorization
of an OPA. The Issuer and related parties filed certain claims in Mexico and obtained a suspension of the issuance of such authorization by </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Page 2 of 6
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the CNBV. The Reporting Persons appealed the decision ordering the suspension of the authorization by the CNBV and on March&nbsp;29, 2012 the Reporting Persons announced their withdrawal of their
application for CNBV authorization of the OPA announced on June&nbsp;13, 2011. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">As previously reported, the Reporting Persons
continue to explore the possibility of additional investments in Issuer Equity Shares, in accordance with applicable laws in Mexico and the U.S., but have not made any determination at this time regarding the number of Issuer Equity Shares that we
might seek in any such transaction, the form of any such transaction or the timing thereof. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">As previously reported, the
Reporting Persons may from time to time acquire, purchase or sell Issuer Equity Shares on the Mexican Stock Exchange or New York Stock Exchange in the open market, in privately negotiated transactions, or otherwise or propose changes in the Board of
Directors of the Issuer, as the Reporting Persons may determine at any such time based upon our evaluation of the Issuer&#146;s businesses and prospects, price levels of the Shares and ADSs, conditions in the securities and financing markets and in
the Issuer&#146;s industry and the economy in general, regulatory developments affecting the Issuer and its industry and other factors deemed relevant. In addition, the Reporting Persons may from time to time have discussions with the Issuer&#146;s
management, directors and other shareholders and third parties regarding their investment in, and the business and strategy of, the Issuer. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The last eight sentences of Item&nbsp;5 (a, b) of this Amendment No.&nbsp;21 are incorporated by reference into this Item&nbsp;4. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>Item&nbsp;5. Interest in Securities of the Issuer </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Item&nbsp;5 is hereby
supplemented by adding the following: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a, b) As of the date hereof, Grupo M&eacute;xico beneficially owns a total of
166,003,673 Shares, consisting of 109,903,673 Shares that Grupo M&eacute;xico owns directly, and 56,100,000 Shares held by ITM. (References to &#147;Shares&#148; in this Item&nbsp;5 include the Shares evidenced by ADSs beneficially owned by Grupo
M&eacute;xico). As of the date hereof, ITM beneficially owns a total of 56,100,000 Shares. The Shares directly owned by Grupo M&eacute;xico and ITM represent approximately 23.0% and 11.8%, respectively, or 34.8% in the aggregate, of the total
outstanding Shares, based on a total of 476,850,000 Shares outstanding as of December&nbsp;31, 2012, as reported in the Issuer&#146;s Form 20-F for the fiscal year ended December&nbsp;31, 2012. Except to the extent described below, Grupo
M&eacute;xico has the sole power to vote or direct the vote of the 109,903,673 Shares that it owns directly, and has shared power to vote or direct the vote of the 56,100,000 Shares held by ITM. Except to the extent described below, ITM does not
have the sole power to vote or direct the vote of any of the 56,100,000 Shares that it owns directly, and has shared power to vote or direct the vote of such Shares. Grupo M&eacute;xico has the sole power to dispose or direct the disposition of the
109,903,673 Shares that it owns directly, and has shared power to dispose or direct the disposition of the 56,100,000 Shares held by ITM. ITM does not have the sole power to dispose or direct the disposition of any of the 56,100,000 Shares that it
owns directly, and has shared power to dispose or direct the disposition of such Shares. Grupo M&eacute;xico&#146;s beneficial ownership of 166,003,673 Shares represents 29.6% of the total outstanding Issuer Equity Shares, based on a total of
561,000,000 Issuer Equity Shares outstanding as of December&nbsp;31, 2012, as reported in the Issuer&#146;s Form 20-F for the fiscal year ended December&nbsp;31, 2012. The bylaws of the Issuer provide that no holder of Shares may hold in excess of
10.0% of the total outstanding Issuer Equity Shares, or exercise voting rights with respect to such excess Shares. As a result of such provision, the Issuer has, in the past, asked Grupo M&eacute;xico to dispose of a number of its Shares in order to
reduce its beneficial ownership of Issuer Equity Shares to 10.0% of the outstanding Issuer Equity Shares, and has not allowed Grupo M&eacute;xico to exercise voting rights with respect to Shares in excess of 10.0% of the total outstanding Issuer
Equity Shares. The Reporting Persons commenced various legal proceedings in courts in Mexico seeking, among other things, that such courts determine that the limitations on holding more than 10.0% of the total outstanding Issuer Equity Shares
contained in the Issuer&#146;s bylaws are null and void under </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Page 3 of 6
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applicable Mexican law. On February&nbsp;22, 2013, a Mexican appellate court issued a decision confirming the determination by the state civil court of Mexico City that the share ownership
limitations contained in the Issuer&#146;s bylaws are null and void because they are inconsistent with applicable Mexican law, including the Securities Market Law (<I>Ley de Mercado de Valores</I> or &#147;LMV&#148;), which specifically provides
that the bylaws of a Mexican <I>sociedad an&oacute;nima burs&aacute;til de capital variable</I> or S.A.B. (like the Issuer) may not include restrictions in shareholder ownership that (i)&nbsp;preclude a change of control of such company or
(ii)&nbsp;interfere with the mandatory tender offer rules contained in the LMV. The Issuer issued a press release on March&nbsp;20, 2013 stating that it had filed an appeal challenging the decision of the appellate court, and as a result, the
Issuer&#146;s management stated that it would continue to enforce the share ownership limitations contained in the Issuer&#146;s bylaws. The Issuer issued another press release on April&nbsp;11, 2013 stating that as a result of its appeal
challenging the decision of the appellate court, application and enforcement of such decisions have been suspended until the appeal is decided. The Issuer also issued a press release on April&nbsp;15, 2013 stating that it has been notified that an
appellate court has upheld a previous decision rendered by a trial court preventing most Mexican stockbrokers from buying additional Shares on behalf of Grupo M&eacute;xico or its affiliates or any other person owning Series B Shares or ADSs in
excess of 10.0% of the total outstanding Issuer Equity Shares. The Reporting Persons may take action in connection therewith, including, but not limited to, via legal proceedings. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The first two paragraphs of Item&nbsp;4 of this Amendment No.&nbsp;21 are incorporated by reference into this Item&nbsp;5(a, b).
</FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Item&nbsp;7. Material to be Filed as Exhibits </B></FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1px solid #000000;width:39pt"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Exhibit&nbsp;No.</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="border-bottom:1px solid #000000;width:15pt"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Title</B></FONT></P></TD></TR>


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<TD VALIGN="top" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">1</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">April&nbsp;16</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">th</SUP></FONT><FONT
STYLE="font-family:Times New Roman" SIZE="2"> Shareholder Letter</FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Page 4 of 6
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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SIGNATURE </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">After reasonable inquiry and to the best of their knowledge and belief, each of the undersigned certifies that the information set forth herein is true, complete and correct. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Dated as of: April&nbsp;17, 2013 </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><DIV ALIGN="right">
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<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">GRUPO M&Eacute;XICO, S.A.B. DE C.V.</FONT></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">By:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;/s/ Daniel Mu&ntilde;iz Quintanilla</FONT></P></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Name: Daniel Mu&ntilde;iz Quintanilla</FONT></TD></TR>
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<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Title: &nbsp;&nbsp;Chief Financial Officer</FONT></TD></TR>
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<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">INFRAESTRUCTURA Y TRANSPORTES M&Eacute;XICO, S.A. DE C.V.</FONT></TD></TR>
<TR>
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<TD HEIGHT="16" COLSPAN="2"></TD></TR>
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<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">By:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;/s/ Daniel Mu&ntilde;iz Quintanilla</FONT></P></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Name: Daniel Mu&ntilde;iz Quintanilla</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Title: &nbsp;&nbsp;Attorney-in-Fact</FONT></TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Page 5 of 6
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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Exhibit Index </B></FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1px solid #000000;width:39pt"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Exhibit&nbsp;No.</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="border-bottom:1px solid #000000;width:15pt"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Title</B></FONT></P></TD></TR>


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<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">April 16</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">th</SUP></FONT><FONT
STYLE="font-family:Times New Roman" SIZE="2"> Shareholder Letter</FONT></TD></TR>
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 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Page 6 of 6
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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Exhibit 1 </B></FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px">


<IMG SRC="g5217781.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:6px;margin-bottom:0px" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">April&nbsp;16, 2013 </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Dear Fellow Grupo Aeroportuario del Pac&iacute;fico, S.A.B. de C.V. Shareholder: </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Grupo M&eacute;xico, S.A.B. de C.V. (&#147;Grupo M&eacute;xico&#148;) is writing to you to urge you to take action to protect your
interests as a minority shareholder of Grupo Aeroportuario del Pac&iacute;fico, S.A.B. de C.V. (&#147;PAC&#148; or the &#147;Company&#148;). This letter is being sent to you as the owner of Series B Shares, without par value (&#147;Series B
Shares&#148;), and/or American Depositary Shares, each representing ten Series B Shares (evidenced by American Depositary Receipts, &#147;ADSs&#148;), in each case, of PAC. As set forth in more detail in Annex I hereto, Grupo M&eacute;xico currently
beneficially owns a non-controlling interest of approximately 29.6% of PAC&#146;s total outstanding capital through its beneficial ownership of Series B Shares and ADSs. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%;padding-bottom:0px; "><FONT STYLE="font-family:Times New Roman" SIZE="2">You should be aware that Grupo M&eacute;xico requested that a General Ordinary Shareholders&#146; Meeting of PAC be
held by PAC on April&nbsp;23, 2013 (the &#147;April 23</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">rd</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2">
Shareholders&#146; Meeting&#148;) in order to allow all of PAC&#146;s shareholders to receive information, consider and vote on proposals put forth by Grupo M&eacute;xico that seek to ensure that the directors and officers of PAC: </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(i) remain accountable to <B><U>all</U></B> shareholders for their actions on behalf of the Company; and </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(ii) cease to take actions that are aimed at preserving the interests of the controlling shareholder of PAC, which are in
conflict with your interests. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">As set forth in more detail in Annex I hereto, Aeropuertos Mexicanos del Pac&iacute;fico, S.A.
de C.V. (&#147;AMP&#148;), through its ownership of all the outstanding Series BB Shares of PAC and the special rights conferred to those shares, controls PAC. <U>We believe that certain directors and officers of PAC have taken, and continue to
take, action on behalf of PAC that serves only to entrench management and protect the conflicting interests of AMP, to the detriment of PAC and its minority shareholders.</U> </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>We Urge You to Vote <U>FOR</U> All Proposals on the Enclosed Voting Instruction Form Today&#151;Please Note that the ADS Voting Deadline is 5:00 p.m. E.D.T. on April&nbsp;18, 2013 </B></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We hope that you will take a few minutes to review this letter, together with its Annex and the enclosed voting instruction form, to
ensure that you exercise your right to vote in an informed manner that safeguards your interests as a minority shareholder of PAC. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">As we outlined in our letter to you dated April&nbsp;8, 2013 in connection with the annual shareholders&#146; meeting to be held on April&nbsp;16, 2013, we strongly believe that some of PAC&#146;s
officers and incumbent directors, a majority of which have been appointed by AMP, may have engaged in improper conduct and may be subject to claims and other legal action by PAC&#146;s shareholders (including, but not limited to, class action
lawsuits) and sanctions by the Mexican National Banking and Securities Commission (<I>Comisi&oacute;n Nacional Bancaria y de Valores</I> or &#147;CNBV&#148;). This conduct includes, among others, their defense and enforcement of bylaws that have
been determined by the CNBV and twice by Mexican state courts (which decisions PAC is still appealing) to be inconsistent with applicable Mexican law, to protect the interests of the controlling shareholder of PAC that are inconsistent with your
interests as a minority shareholder of PAC. </FONT></P>

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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We urge you to vote <B><U>FOR</U></B> the proposals set forth in the enclosed voting
instruction form, which were put forth by Grupo M&eacute;xico in order to seek to: </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">1. Require PAC to cease to apply its bylaws
that purport to (i)&nbsp;limit the right of shareholders, other than PAC&#146;s controlling shareholder, AMP, to own more than 10.0% of PAC&#146;s total outstanding capital, (ii)&nbsp;limit the exercise of voting rights with respect to Series B
Shares or ADSs in excess of 10.0% of PAC&#146;s total outstanding capital and (iii)&nbsp;preclude any person, other than AMP, from seeking a change of control of PAC. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">2. Require certain of PAC&#146;s directors and officers to present a report to all shareholders explaining certain actions taken by such directors and officers that may be inconsistent with applicable law
and their fulfillment of their fiduciary duties, including (i)&nbsp;actions seeking to enforce PAC&#146;s bylaws that may be inconsistent with applicable law, (ii)&nbsp;consummating a capital reduction at PAC in breach of quorum and notice
requirements applicable to PAC and (iii)&nbsp;actions seeking to enjoin most brokerage firms in Mexico from engaging in transactions on PAC&#146;s securities on behalf of Grupo M&eacute;xico or its affiliates or any other person owning Series B
Shares or ADSs in excess of 10.0% of PAC&#146;s total outstanding capital. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">3. Require PAC to (i)&nbsp;enable an independent
representative of the minority shareholders to take any and all action necessary to determine if members of the Board of Directors, the Chief Executive Officer and other officers of the Company have engaged in wrongful acts to the detriment of PAC
that may result in such directors and officers being liable to the Company and its minority shareholders, and (ii)&nbsp;grant powers of attorney to representatives of the minority shareholders in order to pursue any remedies in connection therewith
on behalf of PAC and its minority shareholders. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%;padding-bottom:0px; "><FONT STYLE="font-family:Times New Roman" SIZE="2">4. Require PAC to appoint and empower representatives of
the minority shareholders to carry out the resolutions adopted at the April&nbsp;23</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">rd</SUP></FONT><FONT
STYLE="font-family:Times New Roman" SIZE="2"> Shareholders&#146; Meeting. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">For the reasons set forth in this letter, together
with its Annex, we urge you to carefully consider these matters and vote <B><U>FOR</U></B> all proposals on the enclosed voting instruction form. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%;padding-bottom:0px; "><FONT
STYLE="font-family:Times New Roman" SIZE="2">PAC has published its notice to shareholders of the
April&nbsp;23</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">rd</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"> Shareholders&#146; Meeting to be held at
10:30 a.m. in the Sal&oacute;n Tejocote A of the Hotel Hyatt Regency, located at Campos El&iacute;seos No.&nbsp;204, Ground Floor, Col. Polanco Chapultepec, Del. Miguel Hidalgo, Mexico City, D.F. 11560. PAC has set the close of business on
April&nbsp;8, 2013 as the record date for determining holders of Series B Shares and ADSs entitled to vote at the April&nbsp;23</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP
STYLE="vertical-align:baseline; position:relative; bottom:.8ex">rd</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"> Shareholders&#146; Meeting. In addition, the Depositary for the ADSs, Bank of New York Mellon, has set 5:00 p.m.
E.D.T. on April&nbsp;18, 2013 as its cut off time to process votes and/or instructions of ADS holders in connection with the April&nbsp;23</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP
STYLE="vertical-align:baseline; position:relative; bottom:.8ex">rd</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"> Shareholders&#146; Meeting. Brokers, dealers and other intermediaries may have also set cut off times even earlier
than 5:00 p.m. E.D.T. on April&nbsp;18, 2013 </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px;padding-bottom:0px; "><FONT STYLE="font-family:Times New Roman" SIZE="2">
to process votes and/or instructions of ADS holders in connection with the April&nbsp;23</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP
STYLE="vertical-align:baseline; position:relative; bottom:.8ex">rd</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"> Shareholders&#146; Meeting. Therefore, whether or not you plan to attend the April&nbsp;23</FONT><FONT
STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">rd</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"> Shareholders&#146; Meeting in person, we urge you to vote
<B><U>today</U></B>, by Internet or by telephone, as instructed in the enclosed voting instruction form, to make sure that your votes are counted at the April&nbsp;23</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP
STYLE="vertical-align:baseline; position:relative; bottom:.8ex">rd</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"> Shareholders&#146; Meeting. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Very truly yours, </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">/s/ Daniel Mu&ntilde;iz Quintanilla </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Daniel Mu&ntilde;iz Quintanilla </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Chief Financial
Officer </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Grupo M&eacute;xico, S.A.B. de C.V. </FONT></P> <P STYLE="margin-top:24px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>Your Vote is Important, No Matter How Many or How Few Shares or ADSs You Own. </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>If you have questions about how to vote your shares or ADSs, or need additional assistance, please contact: </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>INNISFREE M&amp;A INCORPORATED </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>Shareholders Call Toll-Free: (888)&nbsp;750-5834 </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Banks and Brokers Call
Collect: (212)&nbsp;750-5833 </B></FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">3 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">ANNEX I </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2">APRIL 23, 2013 GENERAL ORDINARY SHAREHOLDERS&#146; MEETING </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">OF </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">GRUPO AEROPORTUARIO DEL PAC&Iacute;FICO S.A.B. DE C.V. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2">MATERIALS DELIVERED </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">BY </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">GRUPO M&Eacute;XICO, S.A.B. DE C.V. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">These materials are being delivered to you because Grupo M&eacute;xico, S.A.B. de C.V. (&#147;Grupo M&eacute;xico&#148;) hopes you will take action to protect your interests as a minority shareholder of
Grupo Aeroportuario del Pac&iacute;fico, S.A.B. de C.V. (&#147;PAC&#148; or the &#147;Company&#148;). These materials are being delivered to you as the owner of Series B Shares, without par value (&#147;Series B Shares&#148;), and/or American
Depositary Shares, each representing ten Series B Shares (evidenced by American Depositary Receipts, &#147;ADSs&#148;), in each case, of PAC. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">These materials are being delivered by Grupo M&eacute;xico. As set forth in more detail in the section entitled &#147;Background,&#148; Grupo M&eacute;xico currently beneficially owns approximately 29.6%
of PAC&#146;s total outstanding capital. These materials are not being delivered on behalf of PAC. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%;padding-bottom:0px; "><FONT STYLE="font-family:Times New Roman" SIZE="2">Grupo
M&eacute;xico requested that a General Ordinary Shareholders&#146; Meeting of PAC be held by PAC on April&nbsp;23, 2013 (the &#147;April 23</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP
STYLE="vertical-align:baseline; position:relative; bottom:.8ex">rd</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"> Shareholders&#146; Meeting&#148;) in order to allow all of PAC&#146;s shareholders to receive information, consider
and vote on proposals put forth by Grupo M&eacute;xico that seek to ensure that the directors and officers of PAC: </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(i) remain accountable to <B><U>all</U></B> shareholders for their actions on behalf of the Company; and </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(ii) cease to take actions that are aimed at preserving the interests of the controlling shareholder of PAC, which are in conflict with your interests. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Aeropuertos Mexicanos del Pac&iacute;fico, S.A. de C.V. (&#147;AMP&#148;), through its ownership of all the outstanding Series BB Shares
of PAC and the special rights conferred to those shares, controls PAC. <U>We believe that certain directors and officers of PAC have taken, and continue to take, action on behalf of PAC that serves only to entrench management and protect the
conflicting interests of AMP, to the detriment of PAC and its minority shareholders.</U> </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>We Urge You to Vote <U>FOR</U>
All Proposals on the Enclosed Voting Instruction Form&#151;Please Note that the ADS Voting Deadline is 5:00 p.m. E.D.T. on April&nbsp;18, 2013</B> </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Grupo M&eacute;xico urges you to vote <B><U>FOR</U></B> the proposals set forth in the enclosed voting instruction form, which were put forth by Grupo M&eacute;xico in order to seek to: </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">1. Require PAC to cease to apply its bylaws that purport to (i)&nbsp;limit the right of shareholders, other than PAC&#146;s controlling
shareholder, AMP, to own more than 10.0% of PAC&#146;s total outstanding capital, (ii)&nbsp;limit the exercise of voting rights with respect to Series B Shares or ADSs in excess of 10.0% of PAC&#146;s total outstanding capital and
(iii)&nbsp;preclude any person, other than AMP, from seeking a change of control of PAC. </FONT></P>

<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">2. Require certain of PAC&#146;s directors and officers to present a report to all
shareholders explaining certain actions taken by such directors and officers that may be inconsistent with applicable law and their fulfillment of their fiduciary duties, including (i)&nbsp;actions seeking to enforce PAC&#146;s bylaws that may be
inconsistent with applicable law, (ii)&nbsp;consummating a capital reduction in breach of quorum and notice requirements applicable to PAC and (iii)&nbsp;actions seeking to enjoin most brokerage firms in Mexico from engaging in transactions on
PAC&#146;s securities on behalf of Grupo M&eacute;xico or its affiliates or any other person owning Series B Shares or ADSs in excess of 10.0% of PAC&#146;s total outstanding capital. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">3. Require PAC to (i)&nbsp;enable an independent representative of the minority shareholders to take any and all action necessary to
determine if members of the Board of Directors, the Chief Executive Officer and other officers of the Company have engaged in wrongful acts to the detriment of PAC that may result in such directors and officers being liable to the Company and its
minority shareholders, and (ii)&nbsp;grant powers of attorney to representatives of the minority shareholders in order to pursue any remedies in connection therewith on behalf of PAC and its minority shareholders. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%;padding-bottom:0px; "><FONT STYLE="font-family:Times New Roman" SIZE="2">4. Require PAC to appoint and empower representatives of the minority shareholders to carry out the resolutions
adopted at the April&nbsp;23</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">rd</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"> Shareholders&#146; Meeting.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">As we outlined in our letter to you dated April&nbsp;8, 2013 in connection with the annual shareholders&#146; meeting to be
held on April&nbsp;16, 2013, we strongly believe that some of PAC&#146;s officers and incumbent directors (other than the director appointed by Grupo M&eacute;xico) may have engaged in improper conduct and may be subject to claims and other legal
action by PAC&#146;s shareholders (including, but not limited to, class action lawsuits) and sanctions by the Mexican National Banking and Securities Commission (<I>Comisi&oacute;n Nacional Bancaria y de Valores</I> or &#147;CNBV&#148;). This
conduct includes, among others, their defense and enforcement of bylaws that have been determined by the CNBV and twice by Mexican state courts (which decisions PAC is still appealing) to be inconsistent with applicable Mexican law, to protect the
interests of the controlling shareholder of PAC that are inconsistent with your interests as a minority shareholder of PAC. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%;padding-bottom:0px; "><FONT
STYLE="font-family:Times New Roman" SIZE="2">PAC has published its notice to shareholders of the
April&nbsp;23</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">rd</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"> Shareholders&#146; Meeting to be held at
10:30 a.m. in the Sal&oacute;n Tejocote A of the Hotel Hyatt Regency, located at Campos El&iacute;seos No.&nbsp;204, Ground Floor, Col. Polanco Chapultepec, Del. Miguel Hidalgo, Mexico City, D.F. 11560. PAC has set the close of business on
April&nbsp;8, 2013 as the record date for determining holders of Series B Shares and ADSs entitled to vote at the April&nbsp;23</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP
STYLE="vertical-align:baseline; position:relative; bottom:.8ex">rd</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"> Shareholders&#146; Meeting. In addition, the Depositary for the ADSs, Bank of New York Mellon, has set 5:00 p.m.
E.D.T. on April&nbsp;18, 2013 as its cut off time to process votes and/or instructions of ADS holders in connection with the April&nbsp;23</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP
STYLE="vertical-align:baseline; position:relative; bottom:.8ex">rd</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"> Shareholders&#146; Meeting. Brokers, dealers and other intermediaries may have also set cut off times even earlier
than 5:00 p.m. E.D.T. on April&nbsp;18, 2013 to process votes and/or instructions of ADS holders in connection with the April&nbsp;23</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP
STYLE="vertical-align:baseline; position:relative; bottom:.8ex">rd</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"> Shareholders&#146; Meeting. Therefore, whether or not you plan to attend the April&nbsp;23</FONT><FONT
STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">rd</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"> Shareholders&#146; Meeting in person, we urge you to vote
<B><U>today</U></B>, by Internet or by telephone, as instructed in the enclosed voting instruction form, to make sure that your votes are counted at the April&nbsp;23</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP
STYLE="vertical-align:baseline; position:relative; bottom:.8ex">rd</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"> Shareholders&#146; Meeting. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">A-2
</FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Based on information disclosed by PAC in its Form 20-F for the year ended December&nbsp;31,
2012, filed with the U.S. Securities and Exchange Commission (&#147;SEC&#148;) on April&nbsp;15, 2013, PAC is a foreign private issuer. As such, the securities issued by PAC, including the Series B Shares and/or ADSs that you hold are not subject
to, among others, section 14(a) of the Securities Exchange Act of 1934, as amended. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%;padding-bottom:0px; "><FONT STYLE="font-family:Times New Roman" SIZE="2">THESE MATERIALS DO
NOT CONSTITUTE A &#147;PROXY STATEMENT&#148; AND WE ARE NOT SOLICITING THAT YOU GRANT US A PROXY TO VOTE YOUR SERIES B SHARES OR ADSs AT THE APRIL 23</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP
STYLE="vertical-align:baseline; position:relative; bottom:.8ex">RD</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"> SHAREHOLDERS&#146; MEETING. YOU MUST VOTE YOUR ADSs BY FOLLOWING THE INSTRUCTIONS FOR INTERNET OR TELEPHONE VOTE SET
FORTH ON THE ENCLOSED VOTING INSTRUCTION FORM TODAY TO MAKE SURE THAT YOUR VOTE IS COUNTED AT THE APRIL 23</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">RD</SUP></FONT><FONT
STYLE="font-family:Times New Roman" SIZE="2"> SHAREHOLDERS&#146; MEETING. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The information concerning the Company contained
herein has been taken from, or is based upon, publicly available documents on file with the SEC and other publicly available information. We have not had access to the books and records of the Company, were not involved in the preparation of such
information and statements and are not in a position to verify any such information and statements. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">These materials are dated
April&nbsp;16, 2013. You should not assume that the information contained herein is accurate as of any date other than such date, and the mailing of these materials to shareholders shall not create any implication to the contrary. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%;padding-bottom:0px; "><FONT STYLE="font-family:Times New Roman" SIZE="2">You may obtain a free copy of these materials and other relevant documents by calling Innisfree M&amp;A Incorporated
at the phone numbers indicated below. Please refer to the Company&#146;s website and Form 20-F for the year ended December&nbsp;31, 2012, filed with the SEC on April&nbsp;15, 2013, for certain additional information and disclosure required to be
made by the Company in connection with the April&nbsp;23</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">rd</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2">
Shareholders&#146; Meeting in accordance with applicable law. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">If you have questions regarding these materials, please contact
Innisfree M&amp;A Incorporated at the phone numbers indicated below. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">A-3
</FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Additional information regarding Grupo M&eacute;xico can be found at www.gmexico.com.mx.
Additional information regarding our interest in PAC can be found at www.sec.gov. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center">


<IMG SRC="g5217781.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:6px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">/s/ Daniel Mu&ntilde;iz Quintanilla </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Daniel Mu&ntilde;iz Quintanilla </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Chief Financial Officer </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Grupo M&eacute;xico, S.A.B. de C.V. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Your Vote is Important, No Matter How Many or How Few Shares or ADSs You Own. </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>If you have questions about how to vote your shares or ADSs, or need additional assistance, please contact: </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>INNISFREE M&amp;A INCORPORATED </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>Shareholders Call Toll-Free: (888)&nbsp;750-5834 </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Banks and Brokers Call
Collect: (212)&nbsp;750-5833 </B></FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">A-4
</FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>TABLE OF CONTENTS </B></FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="95%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>


<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">REASONS TO VOTE FOR PROPOSAL 1</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">A-6</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">REASONS TO VOTE FOR PROPOSAL 2</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">A-10</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">REASONS TO VOTE FOR PROPOSAL 3</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">A-13</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">REASONS TO VOTE FOR PROPOSAL 4</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">A-15</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">QUESTIONS AND ANSWERS RELATING TO THE APRIL
23</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">RD</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"> SHAREHOLDERS&#146; MEETING AND<BR>PROPOSALS
1-4</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">A-16</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">BACKGROUND</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">A-19</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">A-22</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">A-5
</FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>REASONS TO VOTE FOR PROPOSAL 1 </B></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Proposal 1 on the enclosed voting instruction form seeks to require PAC to cease to apply the bylaws of PAC that may be contrary to the
Mexican Securities Law or <I>Ley del Mercado de Valores</I> enacted on December&nbsp;30, 2005, as amended (the &#147;LMV&#148;). Such bylaws include those that purport to (i)&nbsp;limit the right of shareholders, other than PAC&#146;s controlling
shareholder, AMP, to own more than 10.0% of PAC&#146;s total outstanding capital, (ii)&nbsp;limit the exercise of voting rights with respect to Series B Shares or ADSs in excess of 10.0% of PAC&#146;s total outstanding capital and
(iii)&nbsp;preclude any person, other than AMP, from seeking a change of control of PAC (the &#147;Anti-Takeover Bylaws&#148;). </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>We Urge You to Vote <U>FOR</U> Proposal 1 on the Enclosed Voting Instruction Form </B></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Anti-Takeover Bylaws </I></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The following bylaws of GAP (pertinent excerpt translated below for your convenience) contain provisions that we believe are inconsistent
with applicable law: </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:13%;margin-right:21%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><U>Article 10. Shareholder Participation Limits</U>. The interest of any person in the
share capital of the Company will be subject to the following restrictions &#133;: </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:13%;margin-right:21%"><FONT STYLE="font-family:Times New Roman" SIZE="2">1. Holders of Series B
Shares, individually or together with Related Persons, shall not have an interest greater than 10% of the total outstanding capital of the Company, unless such limits are amended in accordance with Article 12 or as provided by Article 14, of these
bylaws&#133;. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:13%;margin-right:21%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><U>Article 12. Amendment to the Participation Limits</U>. Any amendment to Articles 7, 10, 11
and 12 of these bylaws as they relate to shareholder participation limits and the share distribution established in Article 6, will require the affirmative vote of shares representing 85% of the total outstanding capital. </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; margin-left:13%;margin-right:21%"><FONT STYLE="font-family:Times New Roman" SIZE="2">If a person, individually or together with Related Persons, acquires a percentage of shares greater than the
participation limits established in Article 10, such person or group of persons will be obligated to sell the excess over the permitted amount through a public offering of shares in accordance with then current applicable law. Until the sale is
made, the excess shares will not have the right to vote and cannot be represented in a shareholders&#146; meeting. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:13%;margin-right:21%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Any amendment to the obligation to carry out the public offering mentioned in the prior paragraph will require the affirmative vote of shares representing at least 95% of the outstanding capital stock.
</FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">A-6
</FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Mexican Securities Law </I></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The LMV provides in Article 48 that the bylaws of a Mexican <I>sociedad an&oacute;nima burs&aacute;til de capital variable</I> or S.A.B., like PAC, must not (i)&nbsp;preclude a change of control of such
company or (ii)&nbsp;interfere with the mandatory tender offer rules contained in the LMV. The mandatory tender offer rules provide that (i)&nbsp;any intended acquisition of securities of a public company that results in the buyer owning 30.0% or
more, but less than a percentage that would result in the buyer acquiring control of a company&#146;s voting shares, requires the buyer to make a mandatory tender offer for the greater of (a)&nbsp;the percentage of the share capital intended to be
acquired or (b)&nbsp;10.0% of the company&#146;s outstanding capital stock, and (ii)&nbsp;any acquisition of securities of a public company that is intended to result in obtaining voting control, requires the buyer to make a mandatory tender offer
for 100.0% of the company&#146;s outstanding capital stock, unless otherwise permitted by the CNBV. Further, the LMV provides in Article 392 that publicly traded companies that include provisions in their bylaws intended to (i)&nbsp;preclude a
change of control of such company or (ii)&nbsp;interfere with the mandatory tender offer rules contained in the LMV, are subject to administrative fines. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The Anti-Takeover Bylaws in fact completely preclude a change of control of PAC. By completely precluding a change-of-control transaction over PAC through the acquisition of Series B Shares and/or ADSs of
PAC, the Anti-Takeover Bylaws also preclude minority shareholders of PAC from considering, and, at their discretion, participating in any proposed change-of-control transaction through a mandatory tender offer or OPA, reserving that right solely to
the holders of Series BB Shares. In enforcing the Anti-Takeover Bylaws, the directors and officers of PAC, a majority of which have been appointed by AMP, PAC&#146;s controlling shareholder, are taking action on behalf of PAC that pursues the
interest of PAC&#146;s controlling shareholder, AMP, in preserving an illegal entrenchment in the control of PAC. These actions conflict with the interests of the Company as a whole and all of its minority shareholders as they significantly limit
the opportunities to maximize shareholder value and consider directly and independently any proposed change-of-control transaction involving PAC. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">In addition, the conflicted directors and officers have taken other actions at the expense of PAC and therefore at the expense of PAC&#146;s minority shareholders, to further entrench AMP and the
controlling group, including by seeking to impede the approval by the CNBV of a mandatory tender offer announced by Grupo M&eacute;xico in 2011. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">We believe PAC&#146;s enforcement of the Anti-Takeover Bylaws is against the interests of the Company and its minority shareholders, and, instead, serves only to entrench management and protect the
conflicting interests of AMP, PAC&#146;s controlling shareholder, and its representatives on PAC&#146;s Board of Directors and management. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>History </I></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">AMP owns all
the outstanding Series BB Shares (the &#147;Series BB Shares&#148;) of PAC. The Series BB Shares are different than the Series B Shares that are held by you directly or through your ADSs. The Series BB Shares are not listed on any stock exchange and
are not registered with the SEC or the CNBV. At the time of the privatization process of PAC, the Series BB </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">A-7
</FONT></P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">
Shares were given certain rights in PAC&#146;s bylaws which result in holders of the Series BB Shares controlling PAC through the ownership of securities that represent no more than 15.0% of the
total outstanding capital of PAC. The special rights of the Series BB shareholders include a right to appoint a majority of the Board of Directors of PAC, the Chief Executive Officer and Chief Financial Officer of PAC, and a series of veto rights
with respect to the management of the business of PAC. The Anti-Takeover Bylaws protect AMP from any other holder of securities having a larger economic stake in the Company than holders of Series BB Shares. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">On December&nbsp;30, 2005, with the enactment of the LMV, Mexican applicable law changed to protect the transparency of the capital
markets and the rights of public shareholders. The LMV provides in Article 48 that the bylaws of a Mexican <I>sociedad an&oacute;nima burs&aacute;til de capital variable</I> or S.A.B., like PAC, must not (i)&nbsp;preclude a change of control of such
company or (ii)&nbsp;interfere with the mandatory tender offer rules contained in the LMV. The mandatory tender offer rules provide that (i)&nbsp;any intended acquisition of securities of a public company that results in the buyer owning 30.0% or
more, but less than a percentage that would result in the buyer acquiring control of a company&#146;s voting shares, requires the buyer to make a mandatory tender offer for the greater of (a)&nbsp;the percentage of the share capital intended to be
acquired or (b)&nbsp;10.0% of the company&#146;s outstanding capital stock, and (ii)&nbsp;any acquisition of securities of a public company that is intended to result in obtaining voting control, requires the buyer to make a mandatory tender offer
for 100.0% of the company&#146;s outstanding capital stock, unless otherwise permitted by the CNBV. The LMV is currently in full force and effect. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The Anti-Takeover Bylaws achieve the illegal effect of (y)&nbsp;preventing a change of control in PAC and (z)&nbsp;interfering with the mandatory tender offer rules contained in the LMV, which require
that (i)&nbsp;any intended acquisition of securities of a public company that results in the buyer owning 30.0% or more, but less than a percentage that would result in the buyer acquiring control of a company&#146;s voting shares, requires the
buyer to make a mandatory tender offer for the greater of (a)&nbsp;the percentage of the share capital intended to be acquired or (b)&nbsp;10.0% of the company&#146;s outstanding capital stock, and (ii)&nbsp;any acquisition of securities of a public
company that is intended to result in obtaining voting control, requires the buyer to make a mandatory tender offer for 100.0% of the company&#146;s outstanding capital stock, unless otherwise permitted by the CNBV. Thus, we believe PAC&#146;s
bylaws are illegal. The actions of PAC through its officers and directors, a majority of which have been appointed by AMP, including their attempt to enforce these bylaws, protect the interests of AMP and are inconsistent with the interests of the
minority shareholders. There is an inherent conflict of interest underlying these actions which seek to preserve controlling shareholder entrenchment while limiting the rights of minority shareholders. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Consistent with applicable law, on April&nbsp;20, 2010, the CNBV issued an official communication to PAC determining that the
Anti-Takeover Bylaws do not comply with the LMV. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Grupo M&eacute;xico has commenced various legal proceedings in Mexico
seeking, among other things, that the competent Mexican courts determine that the Anti-Takeover Bylaws are null and void under applicable Mexican law. On February&nbsp;22, 2013, a Mexican appellate court issued a decision confirming the
determination by the state civil court of Mexico City that the Anti-</FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">A-8
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">
Takeover Bylaws are null and void because they are inconsistent with applicable Mexican law, including the LMV. PAC issued a press release on March&nbsp;20, 2013 stating that it filed an appeal
challenging the decision of the appellate court and as a result, PAC&#146;s management stated that they would continue to enforce the share ownership limitations contained in PAC&#146;s bylaws. PAC issued another press release on April&nbsp;11, 2013
stating that as a result of its appeal challenging the decision of the appellate court, the application and enforcement of such decisions have been suspended until the appeal is decided. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We believe that all actions seeking to apply and enforce the Anti-Takeover Bylaws have been taken to protect the interests of an
entrenched controlling shareholder, which conflict with the interests of the non-affiliated shareholders of PAC. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">A vote
<B><U>FOR </U></B>Proposal 1: </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">Lets the PAC Board of Directors and management know that you want directors and officers who will act in the best interests of <B><U>all</U></B> PAC
shareholders and will be accountable for their actions and duties. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">Lets PAC know that you expect the directors and officers of a publicly traded company to comply with applicable capital markets laws.
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">Would allow you to consider directly and independently from the controlling shareholders of PAC, if and when available, any proposal by a third party
in connection with a potential change of control of PAC and participate in any economic benefit resulting from any such transaction. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">Would allow you and any other person to decide if and when you may be interested in holding any number of publicly traded securities of PAC in
accordance with applicable law. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">Lets PAC know that its shareholders want an environment of good corporate governance. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">A-9
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>REASONS TO VOTE FOR PROPOSAL 2 </B></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Proposal 2 on the enclosed voting instruction form would require PAC to enable the appropriate means for a detailed review of the
potential liability incurred by certain of PAC&#146;s directors and officers, including Mr.&nbsp;Bosque Moh&iacute;no, the Chief Executive Officer of PAC, in connection with certain actions taken by such directors and officers that may be
inconsistent with applicable law. Grupo M&eacute;xico will seek to require certain of PAC&#146;s directors and officers to present a report to <B><U>all</U></B> shareholders explaining certain actions taken by such directors and officers that may be
inconsistent with applicable law and their fiduciary duties to PAC and its shareholders, including (i)&nbsp;actions seeking to enforce PAC&#146;s bylaws that may be inconsistent with applicable law, (ii)&nbsp;consummating a capital reduction in
breach of quorum and notice requirements applicable to PAC and (iii)&nbsp;actions seeking to enjoin most brokerage firms in Mexico from engaging in transactions on PAC&#146;s securities on behalf of Grupo M&eacute;xico or its affiliates or any other
person owning Series B Shares or ADSs in excess of 10.0% of PAC&#146;s total outstanding capital. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>We Urge You to Vote
<U>FOR</U> Proposal 2 on the Enclosed Voting Instruction Form </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Grupo M&eacute;xico believes that PAC&#146;s Board of
Directors and officers, including Mr.&nbsp;Bosque Moh&iacute;no, the Chief Executive Officer of PAC, should remain accountable to <B><U>all</U></B> shareholders of PAC for their actions, and as such they should provide adequate information regarding
actions taken on matters on which they may have a conflict of interest due to their relationship with AMP, PAC&#146;s controlling shareholder. We believe <B><U>all</U></B> shareholders should be in a position to make informed decisions regarding the
appropriateness or not of any such actions by conflicted directors and officers. Among other things, we will request that certain directors and officers of the Company deliver to <B><U>all</U></B> of PAC&#146;s shareholders a report: </FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">identifying all actions (and the related costs and expenses borne by PAC) undertaken to enforce the Anti-Takeover Bylaws, including, among others:
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">o</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">litigation in Mexican state and federal courts; </FONT></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">o</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">actions seeking to preclude the approval by the CNBV of a mandatory tender offer required under applicable Mexican law; and </FONT></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">o</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">actions seeking to enjoin most Mexican brokerage firms from buying PAC shares on behalf of Grupo M&eacute;xico or its affiliates or any other person owning Series B
Shares or ADSs in excess of 10.0% of PAC&#146;s total outstanding capital; and </FONT></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">identifying all actions (and the related costs and expenses borne by PAC) undertaken in connection with a capital reduction that Grupo M&eacute;xico
believes was approved in breach of quorum and notice requirements applicable to PAC. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">A-10
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Defense of the Anti-Takeover Bylaws </I></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">As outlined in the section entitled &#147;Reasons to Vote For Proposal 1,&#148; Grupo M&eacute;xico believes that certain of PAC&#146;s
bylaws are inconsistent with applicable Mexican law, and that some of PAC&#146;s officers and incumbent directors, a majority of which have been appointed by AMP, may have engaged in improper conduct and under a conflict of interest in seeking to
apply and enforce such bylaws and therefore may be subject to claims and other legal action by PAC&#146;s shareholders (including, but not limited to, class action lawsuits) and sanctions by the CNBV. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">In order for PAC&#146;s shareholders to assess this potential liability, we will require that certain of PAC&#146;s directors and
officers, including Mr.&nbsp;Bosque Moh&iacute;no, the Chief Executive Officer of PAC, prepare a detailed report identifying all actions (and the related costs and expenses borne by PAC) they have undertaken individually or on behalf of PAC to apply
and enforce the Anti-Takeover Bylaws. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Capital Reduction </I></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Article 42 of PAC&#146;s bylaws requires that 75.0% of PAC&#146;s total outstanding capital be present at extraordinary or special shareholders&#146; meetings in order for a valid quorum to exist.
Notwithstanding this quorum requirement in PAC&#146;s bylaws, at a PAC extraordinary shareholders&#146; meeting held on September&nbsp;25, 2012, where only 62.9% of PAC&#146;s total outstanding capital was present, PAC approved a capital reduction
in an amount up to Mexican pesos $870,000,000. Also, Article 9 of the Mexican General Corporations Law or <I>Ley General de Sociedades Mercantiles</I> requires several mandatory public notices in advance of the consummation of a capital reduction,
which PAC failed to comply with. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">On October&nbsp;2, 2012, at our request, a Mexican court declared that the capital reduction
was invalid due to, among other things, a lack of quorum at the September&nbsp;25, 2012 extraordinary shareholders&#146; meeting. Notwithstanding that a court had ruled that such capital reduction was invalid, PAC executed the capital reduction. To
date, the only shareholder that has received any proceeds in connection with the capital reduction is AMP (PAC&#146;s controlling shareholder). </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">A vote <B><U>FOR </U></B>Proposal 2: </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">Lets PAC know that you expect to be provided adequate information regarding any potential conflict of interest of directors and officers of PAC.
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">Lets PAC know that you expect to be provided adequate information supporting each proposal that they submit for your vote with sufficient time to
consider any such proposal and be in a position to make an informed decision and better understand the impact of their actions on your investment. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">Lets the PAC Board of Directors and management know that you want directors and officers who will be accountable for their actions and duties.
</FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">A-11
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">Allows you to get adequate information in order to take informed decisions as to the appropriateness of the conduct of the directors and officers of
PAC. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">Lets PAC know that its shareholders want an environment of good corporate governance and transparency. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">A-12
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>REASONS TO VOTE FOR PROPOSAL 3 </B></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Proposal 3 on the enclosed voting instruction form requires that PAC enable a meaningful process to determine and pursue any remedies
available under applicable law against any directors and officers of PAC who may be liable in connection with action they have taken on behalf of PAC which may be inconsistent with applicable law and their fiduciary duties. Grupo M&eacute;xico will
seek to require PAC to (i)&nbsp;enable the appointment of an independent representative of the minority shareholders to take any and all action necessary to determine if members of the Board of Directors, the Chief Executive Officer and other
officers of the Company have engaged in wrongful acts to the detriment of PAC that may result in such directors and officers being liable to the Company and its minority shareholders, and (ii)&nbsp;grant powers of attorney to representatives of the
minority shareholders in order to pursue any remedies in connection therewith on behalf of PAC and its minority shareholders. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>We Urge You to Vote <U>FOR</U> Proposal 3 on the Enclosed Voting Instruction Form </B></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">As outlined in the sections entitled &#147;Reasons to Vote For Proposal 1&#148; and &#147;Reasons to Vote for Proposal 2,&#148; Grupo
M&eacute;xico believes that certain actions taken by certain of PAC&#146;s directors and officers, including Mr.&nbsp;Bosque Moh&iacute;no, the Chief Executive Officer of PAC, may be subject to claims and other legal action by PAC&#146;s
shareholders (including, but not limited to, class action lawsuits) and sanctions by the CNBV. In order for PAC&#146;s shareholders to assess the scope of this potential liability, we believe that an independent representative of PAC&#146;s
shareholders should be appointed to undertake an investigation regarding certain actions taken by PAC, its directors and its officers, including Mr.&nbsp;Bosque Moh&iacute;no, the Chief Executive Officer of PAC, that may be the basis of liability
for breach of duties by such persons. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">PAC should allow the investigation to consider, among other things, the report to be
prepared by PAC&#146;s directors and officers, including Mr.&nbsp;Bosque Moh&iacute;no, the Chief Executive Officer of PAC, as a result of the approval of Proposal 2 above and should provide sufficient authority to the unaffiliated person conducting
such investigation and grant such person reasonable access to all relevant books and records of the Company. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%;padding-bottom:0px; "><FONT
STYLE="font-family:Times New Roman" SIZE="2">We may propose one or more nominees to conduct the investigation referred to in these materials for the consideration of the shareholders on or before the April&nbsp;23</FONT><FONT
STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">rd</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"> Shareholders&#146; Meeting and would welcome any suggestions from
any unaffiliated shareholder to that effect. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">A vote <B><U>FOR </U></B>Proposal 3: </FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">Allows a disinterested third party selected by the shareholders to take an independent view of the appropriateness or not of the actions of the
directors and officers of PAC, without undue influence or pressure from the controlling shareholder. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">A-13
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<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">Allows all shareholders of PAC to consider the serious question of director and officer liability at the appropriate time and on the basis of adequate
information and pursue, independently from the controlling shareholder of PAC, any remedies available in connection therewith under applicable law. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">Lets PAC know that its shareholders want an environment of good corporate governance and transparency. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">A-14
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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>REASONS TO VOTE FOR PROPOSAL 4 </B></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Proposal 4 on the enclosed voting instruction form approves the appointment of a representative of PAC&#146;s shareholders to give effect
to the actions contemplated by the resolutions adopted in connection with Proposals 1, 2 and 3, as described above. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>We
Urge You to Vote <U>FOR</U> Proposal 4 on the Enclosed Voting Instruction Form </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%;padding-bottom:0px; "><FONT STYLE="font-family:Times New Roman" SIZE="2">Grupo M&eacute;xico
believes that it is customary under Mexican applicable law and corporate practice for shareholders to appoint a shareholder representative to give effect to the actions contemplated by the resolutions adopted at a shareholders&#146; meeting and
believes that, given (i)&nbsp;the nature and scope of the resolutions that may be adopted at the
April&nbsp;23</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">rd</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"> Shareholders&#146; Meeting, and
(ii)&nbsp;the potential conflict of interest of certain directors and officers of PAC with respect to the matters contained in such resolutions, the shareholders should ensure that an independent person is empowered to give effect to the decisions
of the shareholders. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%;padding-bottom:0px; "><FONT STYLE="font-family:Times New Roman" SIZE="2">We may propose one or more nominees to be appointed on or before the
April&nbsp;23</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">rd</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"> Shareholders&#146; Meeting </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">A-15
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 <P STYLE="margin-top:0px;margin-bottom:0px;padding-bottom:0px; " ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>QUESTIONS AND ANSWERS RELATING TO THE APRIL 23<FONT
STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">RD</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"> SHAREHOLDERS&#146; MEETING AND PROPOSALS 1-4 </FONT></B></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%;padding-bottom:0px; "><FONT STYLE="font-family:Times New Roman" SIZE="2">The following are some of the questions you may have as a holder of shares and ADS of PAC relating to the
April&nbsp;23</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">rd</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"> Shareholders&#146; Meeting and Proposals
1-4, as well as the answers to those questions. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Who is delivering these materials? </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">These materials are being delivered by Grupo M&eacute;xico. These materials are not being delivered on behalf of PAC. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Grupo M&eacute;xico is a public stock corporation with variable capital (<I>sociedad an&oacute;nima burs&aacute;til de capital
variable</I>) organized under Mexican law. We are a controlling company of (i)&nbsp;Americas Mining Corporation, a controlling North American company which owns approximately 80.0% of Southern Copper Corporation, a company that focuses on the mining
operations of our group in Mexico and Peru, and 100.0% of Asarco LLC, a company that focuses on the mining operations of our group in the U.S.; (ii)&nbsp;Infraestructura y Transportes M&eacute;xico, S.A. de C.V., a company that focuses on the rail
and intermodal transport operations of our group; and (iii)&nbsp;M&eacute;xico Proyectos y Desarrollos, S.A. de C.V., a company that focuses on the construction operations of our group. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Grupo M&eacute;xico currently beneficially owns a non-controlling interest of approximately 29.6% of PAC&#146;s total outstanding capital
through its beneficial ownership of Series B Shares and ADSs. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">For additional information regarding Grupo M&eacute;xico,
please see the section entitled &#147;Background.&#148; You can also find additional information regarding Grupo M&eacute;xico at www.gmexico.com.mx. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>How are we recommending that you vote? </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We are recommending that you vote
<B><U>FOR</U> </B>each of Proposals 1-4. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Please see each of the sections above that begin with &#147;Reasons to Vote For
Proposal&#148; for a more complete description of the proposals and our recommendations. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Can we vote your shares or ADSs on your behalf?
</B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">No, we cannot vote your shares or ADSs on your behalf. We are NOT soliciting a proxy to vote on your behalf. This is not a
&#147;Proxy Statement.&#148; We are simply recommending that you vote directly <B><U>FOR</U></B> Proposals 1-4. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%;padding-bottom:0px; "><FONT
STYLE="font-family:Times New Roman" SIZE="2">Based on information disclosed by PAC in its Form 20-F for the year ended December&nbsp;31, 2012, filed with the SEC on April&nbsp;15, 2013, PAC is a foreign private issuer. As such, the securities issued
by PAC, including the Series B Shares and or ADSs that you hold, are not subject to, among others, section 14(a) of the Securities Exchange Act of 1934, as amended. The April&nbsp;16</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP
STYLE="vertical-align:baseline; position:relative; bottom:.8ex">th</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"> Shareholders&#146; Meeting and voting therein, including the validity of proxies or powers of attorneys and validity
of the vote, are subject to Mexican law. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">A-16
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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%;padding-bottom:0px; "><FONT STYLE="font-family:Times New Roman" SIZE="2">You need to vote your ADSs by following the instructions set forth on
the enclosed voting instruction form. To ensure that your vote is counted at the April&nbsp;23</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">rd</SUP></FONT><FONT
STYLE="font-family:Times New Roman" SIZE="2"> Shareholders&#146; Meeting, you need to follow the instructions to vote by Internet or by telephone today. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>Why are we recommending to you how to vote? </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We strongly believe that some
of PAC&#146;s officers and incumbent directors, a majority of which have been appointed by AMP, may have engaged in improper conduct and may be subject to claims and other legal action by PAC&#146;s shareholders (including, but not limited to, class
action lawsuits) and sanctions by the CNBV. This conduct includes, among others, their defense and enforcement of bylaws that have been determined by the CNBV and twice by Mexican state courts (which decisions PAC is still appealing) to be
inconsistent with applicable Mexican law, to protect the interests of the controlling shareholder of PAC that are inconsistent with your interests as a minority shareholder of PAC. Accordingly, we believe that PAC&#146;s incumbent directors and
officers should immediately cease enforcing such bylaws. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We also believe that in order for PAC&#146;s shareholders to assess
this potential liability, certain of PAC&#146;s directors and officers, including Mr.&nbsp;Bosque Moh&iacute;no, the Chief Executive Officer of PAC, should prepare a detailed report identifying all actions (and the related costs and expenses borne
by PAC) they have undertaken individually or on behalf of PAC to apply and enforce the Anti-Takeover Bylaws. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We also believe
that an independent representative of PAC&#146;s shareholders should be appointed to undertake an investigation regarding certain actions taken by PAC, its directors and its officers, including Mr.&nbsp;Bosque Moh&iacute;no, the Chief Executive
Officer of PAC, that may be the basis of liability for breach of duties by such persons. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px;padding-bottom:0px; "><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>When and where will the
April&nbsp;23<FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">rd</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"> Shareholders&#146; Meeting be held?
</FONT></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%;padding-bottom:0px; "><FONT STYLE="font-family:Times New Roman" SIZE="2">PAC has scheduled the April&nbsp;23</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP
STYLE="vertical-align:baseline; position:relative; bottom:.8ex">rd</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"> Shareholders&#146; Meeting to be held at 10:30 a.m. on April&nbsp;23, 2013 in the Sal&oacute;n Tejocote A of the Hotel
Hyatt Regency, located at Campos El&iacute;seos No.&nbsp;204, Ground Floor, Col. Polanco Chapultepec, Del. Miguel Hidalgo, Mexico City, D.F. 11560. However, regardless of whether you are planning to attend the April&nbsp;23</FONT><FONT
STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">rd</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"> Shareholders&#146; Meeting in person, we are urging you to vote your
ADSs today by following the instructions set forth on the enclosed voting instruction form. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Until what date can I vote? </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%;padding-bottom:0px; "><FONT STYLE="font-family:Times New Roman" SIZE="2">PAC has published its notice to shareholders of the April&nbsp;23</FONT><FONT
STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">rd</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"> Shareholders&#146; Meeting to be held at 10:30 a.m. in the
Sal&oacute;n Tejocote A of the Hotel Hyatt Regency, located at Campos El&iacute;seos No.&nbsp;204, Ground Floor, Col. Polanco Chapultepec, Del. Miguel Hidalgo, Mexico City, D.F. 11560. PAC has set the close of business on April&nbsp;8, 2013 as the
record date for determining holders of Series B Shares and ADSs entitled to vote at the April&nbsp;23</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">rd</SUP></FONT><FONT
STYLE="font-family:Times New Roman" SIZE="2"> Shareholders&#146; Meeting. In addition, the Depositary for the ADSs, Bank of New York Mellon, has set 5:00 p.m. E.D.T. on April&nbsp;18, 2013 as its cut off time to process votes and/or instructions of
ADS holders in connection with the April&nbsp;23</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">rd</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2">
Shareholders&#146; Meeting. Brokers, dealers and other intermediaries may have also set cut off times even earlier than 5:00 p.m. E.D.T. on April&nbsp;18, 2013 to process votes and/or instructions of ADS holders in connection with the
April&nbsp;23</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">rd</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2">
</FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">A-17
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 <P STYLE="margin-top:0px;margin-bottom:0px;padding-bottom:0px; "><FONT STYLE="font-family:Times New Roman" SIZE="2">
Shareholders&#146; Meeting. Therefore, whether or not you plan to attend the April&nbsp;23</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP
STYLE="vertical-align:baseline; position:relative; bottom:.8ex">rd</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"> Shareholders&#146; Meeting in person, we urge you to vote <B><U>today</U></B>, by Internet or by telephone, as
instructed in the enclosed voting instruction form, to make sure that your votes are counted at the
April&nbsp;23</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">rd</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"> Shareholders&#146; Meeting. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px;padding-bottom:0px; "><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Where can I find more information about PAC and the April&nbsp;23<FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP
STYLE="vertical-align:baseline; position:relative; bottom:.8ex">rd</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"> Shareholders&#146; Meeting? </FONT></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">You can find information made available by PAC at www.aeropuertosgap.com.mx. We have not had access to the books and records of the Company, were not involved in the preparation of such information and
are not in a position to verify any such information. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Who should I call if I have any questions about these materials or our
recommendation? </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">If you have questions regarding these materials, please contact Innisfree M&amp;A Incorporated at
(888)&nbsp;750-5834. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">A-18
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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>BACKGROUND </B></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px;padding-bottom:0px; "><FONT STYLE="font-family:Times New Roman" SIZE="2">Following is certain information regarding us and our relationship with PAC that we believe you should take into account in
considering these materials and your vote in connection with the April&nbsp;23</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">rd</SUP></FONT><FONT
STYLE="font-family:Times New Roman" SIZE="2"> Shareholders&#146; Meeting. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Grupo M&eacute;xico is a public stock corporation
with variable capital (<I>sociedad an&oacute;nima burs&aacute;til de capital variable</I>) organized under Mexican law. We are a controlling company of (i)&nbsp;Americas Mining Corporation, a controlling North American company which owns
approximately 80.0% of Southern Copper Corporation, a company that focuses on the mining operations of our group in Mexico and Peru, and 100.0% of Asarco LLC, a company that focuses on the mining operations of our group in the U.S.;
(ii)&nbsp;Infraestructura y Transportes M&eacute;xico, S.A. de C.V., a company that focuses on the rail and intermodal transport operations of our group; and (iii)&nbsp;M&eacute;xico Proyectos y Desarrollos, S.A. de C.V., a company that focuses on
the construction operations of our group. Additional information regarding Grupo M&eacute;xico can be found at www.gmexico.com.mx. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">We currently beneficially own approximately 29.6% of PAC&#146;s total outstanding capital as a result of open-market purchases of Series B Shares and ADSs by us and Infraestructura y Transportes
M&eacute;xico, S.A. de C.V., our 75.0%-owned subsidiary. More detailed information about our interest in PAC can be found at www.sec.gov. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">On July&nbsp;9, 2010, we delivered a letter to PAC exercising our right to appoint a director to PAC&#146;s Board of Directors and requesting that, in accordance with PAC&#146;s bylaws, the Nominations
and Compensation Committee of PAC&#146;s Board of Directors submit such nominee&#146;s name for election by all holders of Series B Shares to each of the Audit Committee and the Nominations and Compensation Committee of PAC&#146;s Board of
Directors. In the July&nbsp;9, 2010 letter, we also expressed our view that the then current nominee for President of PAC&#146;s Board of Directors submitted by PAC lacked the appropriate experience for such position and had a conflict of interest
as a result of his relationship with AMP (the controlling shareholder of PAC). As a result, we requested that any other eligible independent director be nominated to serve as President of PAC&#146;s Board of Directors. While our nominee,
Mr.&nbsp;Eduardo&nbsp;J. Gall&aacute;stegui Armella, was subsequently appointed to and continues to serve on the Board of Directors of PAC, PAC ignored our request that any other eligible independent director be nominated to serve as President of
the Board of Directors of PAC. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Notwithstanding an April&nbsp;20, 2010 official communication issued by the CNBV determining
that, among others, the share ownership limitations in PAC&#146;s bylaws do not comply with the LMV, on July&nbsp;22, 2010, PAC demanded that we dispose of some of our Series B Shares and/or ADSs in order to reduce our beneficial ownership in PAC to
10.0% of PAC&#146;s total outstanding capital. We did not dispose of any such securities because we believe that the share ownership limitations in PAC&#146;s bylaws are inconsistent with applicable Mexican law. In response to PAC&#146;s actions, we
commenced various legal proceedings with courts of competent jurisdiction in Mexico seeking, among other things, that such courts determine that the limitations on owning and voting more than 10.0% of PAC&#146;s total outstanding capital contained
in PAC&#146;s bylaws are null and void under applicable Mexican law. On September&nbsp;30, 2011, a Mexican court declared that, among others, the share ownership limitations contained in PAC&#146;s
</FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">A-19
</FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">
bylaws are null and void. PAC has appealed this decision. On February&nbsp;22, 2013, a Mexican appellate court issued a decision confirming the determination by the state civil court of Mexico
City that the share ownership limitations contained in PAC&#146;s bylaws are null and void because they are inconsistent with applicable Mexican law, including the LMV. PAC issued a press release on March&nbsp;20, 2013 stating that it had filed an
appeal challenging the decision of the appellate court and as a result, PAC&#146;s management stated that they would continue to enforce the share ownership limitations contained in PAC&#146;s bylaws. PAC issued another press release on
April&nbsp;11, 2013 stating that as a result of its appeal challenging the decision of the appellate court, the application and enforcement of such decisions have been suspended until the appeal is decided. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Despite the inconsistency of PAC&#146;s bylaws with the LMV, PAC initiated a lawsuit against most Mexican stockbrokers seeking, among
other things, to prevent them from buying additional PAC shares on behalf of Grupo M&eacute;xico or its affiliates or any other person owning Series B Shares or ADSs in excess of 10.0% of PAC&#146;s total outstanding capital. On February&nbsp;10,
2012, a Mexican court issued a decision granting PAC&#146;s request for a prohibition on most Mexican stockbrokers from buying additional PAC shares on behalf of Grupo M&eacute;xico or its affiliates. We appealed such decision. PAC issued a press
release on April&nbsp;15, 2013 stating that it has been notified that an appellate court has upheld the decision rendered by the trial court. We continue to explore available alternatives in connection therewith. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">On June&nbsp;13, 2011, we announced that our Board of Directors had approved the acquisition (directly or indirectly) of more than 30.0%
and up to 100.0% of PAC&#146;s total then outstanding capital, excluding treasury shares. We further announced that in connection with such transaction, we would be required to launch a mandatory tender offer for up to 100.0% of the Series B Shares
and ADSs currently outstanding, in accordance with Mexican securities laws and any other applicable laws. In June 2011, we applied for CNBV authorization of an OPA. However, PAC and related parties filed certain claims in Mexico and obtained a
suspension of the issuance of such authorization by the CNBV. On March&nbsp;29, 2012, we announced that we had withdrawn our application for CNBV authorization of the OPA we had announced on June&nbsp;13, 2011. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">On April&nbsp;8, 2013, Grupo M&eacute;xico delivered a letter to certain holders of ADSs and Series B Shares (the &#147;April 8th
Shareholder Letter&#148;), asking them to vote against a proposal included in PAC&#146;s agenda for its annual shareholders&#146; meeting to be held on April&nbsp;16, 2013. The April&nbsp;8th Shareholder Letter requests that PAC shareholders vote
&#147;against&#148; a proposal by PAC to (i)&nbsp;ratify all actions taken by the directors and officers of PAC, including Mr.&nbsp;Bosque Moh&iacute;no, the Chief Executive Officer, during the fiscal year ending on December&nbsp;31, 2012, and
(ii)&nbsp;release such directors and officers from any liability in connection with such actions. The April&nbsp;8th Shareholder Letter also states that Grupo M&eacute;xico has requested that two Grupo M&eacute;xico nominees be appointed to the
Board of Directors of PAC based on (i)&nbsp;Grupo M&eacute;xico&#146;s belief that shareholders of a Mexican <I>sociedad an&oacute;nima burs&aacute;til de capital variable</I> or S.A.B. holding more than 10.0% of the total outstanding capital of
such a company have the right to appoint a director for each 10.0% of the total outstanding capital of such a company that they own, and (ii)&nbsp;Grupo M&eacute;xico&#146;s beneficial ownership of more than 20.0% of PAC&#146;s total outstanding
capital. To date, PAC has only permitted Grupo M&eacute;xico to appoint one director to PAC&#146;s Board of Directors. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">A-20
</FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We continue to explore the possibility of additional investments in securities issued by
PAC, in accordance with applicable laws in Mexico and the U.S., but have not made any determination at this time regarding the number of PAC securities that we might seek to acquire in any such transaction, the form of any such transaction or the
timing thereof. We may from time to time acquire, purchase or sell PAC securities on the Mexican Stock Exchange or New York Stock Exchange, in the open market, in privately negotiated transactions, or otherwise or propose changes in the Board of
Directors of PAC, as we may determine at any such time based upon our evaluation of PAC&#146;s businesses and prospects, price levels of PAC securities, conditions in the securities and financing markets and in PAC&#146;s industry and the economy in
general, regulatory developments affecting PAC and its industry and other factors deemed relevant. In addition, we may from time to time have discussions with PAC&#146;s management, directors and other shareholders and third parties regarding our
investment in, and the business and strategy of, PAC. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We have not commenced any tender offer or OPA for any Series B Shares
or ADSs. This is <U>not</U> an offer to purchase your Series B Shares or ADSs. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">A-21
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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS </B></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Certain statements contained in these materials are &#147;forward-looking statements&#148; and are prospective. These statements may be
identified by their use of forward-looking terminology such as the words &#147;expects&#148;, &#147;projects&#148;, &#147;believes&#148;, &#147;anticipates&#148;, &#147;intends&#148; or other similar words. Forward-looking statements are not based
on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by
the forward-looking statements. These statements generally can be identified by the inherent risks and uncertainties surrounding future expectations. Important factors that could cause actual results to differ materially from the expectations in
these materials include, among others, certain of the risk factors as set forth in PAC&#146;s Form 20-F for the year ended December&nbsp;31, 2012, filed with the SEC on April&nbsp;15, 2013. Such forward-looking statements should therefore be
construed in light of such factors, and we are under no obligation and expressly disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. </FONT></P>

 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">A-22
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