Source: AAA,2014

3% -5% 0%

24%

-15%

Growth per Segment (RGP)

YTD Q2 2014 vs. YTD Q2 2013

Revenue Generating PAX

(Excl. Private Flights)

935,763 986,694 1,029,738 1,102,747

551,076

2010 2011 2012 2013 YTD Q2 2014

+ 4.4%

+ 7.1%

AIRPORT PERFORMANCE YTD Q2 2014

Source: AAA, 2014

AIRPORT PERFORMANCE YTD Q2 2014

Total Processed PAX 2013 Record Year Total Processed

Pax: 2,296,571

RGP 1,116,505 7.0%

(Incl. Private flights)

RGP US/CAN 646,474 3.6%

SEATS 1,628,711 6.0%

PAX MOVEMENTS 2,296,571 8.3%

LF US/CAN 84% 1.0 pts

1,923,623

1,984,173

2,087,170

2,120,578 2,296,571

578,727

2009 2010 2011 2012 2013 YTD Q2 2014

+8.3%

+4.1%

1,984,173

2,087,170

2,120,578 2,296,571

1,140,895

Total Processed Passengers

2010 2011 2012 2013 YTD Q2 2014

38,404 38,888 41,530

43,927

19,566

Aircraft Movements

2010 2011 2012 2013 YTD Q2 2014

Traffic Movements YTD Q2 2014

Source: ACI,2014

WORLDWIDE TRAFFIC Comparison 2014

Total Processed PAX YTD APR Aruba +4.3%

Source: AAA,2013

56%

3% 6%

24%

11%

USA Canada Europe LatAm Dutch Carib.

4% -2% -5%

31%

-7%

Passengers per Segment 2013 Growth per Segment

(2013 vs. 2012)

REVENUE GENERATING PASSENGERS 2013

REVENUE GENERATING PASSENGERS YTD Q2 2014

59%

3% 6%

23%

9%

USA Canada Europe LatAm Dutch Carib.

3% -5% 0%

24%

-9%

Passengers per Segment YTD Q2 2014

Growth per Segment

(YTD Q2 2014 vs. YTD Q2 2013)

Source: AAA,2014

Source: AAA,2013

Percentage per carrier (Pax)

9%

13%

8% 9%

10%

7%

2%

8%

6%

3% 4%

3%

2%

0%

2%

4%

6%

8%

10%

12%

14%

2013

AA B6 US UA DL Tiara DAE

Insel FL KL AV CM VNE

-14%

4%

-3%

7%

49%

18%

-35%

12% 14%

-2%

15%

20%

-24%

(Pax) % changes 2013 vs. 2012

AIRLINE PARTNERS MARKET SHARE 2013

AIRLINE PARTNERS MARKET SHARE YTD Q2 2014

Source: AAA,2014

Percentage per carrier (Pax)

9%

13%

9%

11% 10%

3%

10%

6%

3% 3% 3%

0% 0%

2%

4%

6%

8%

10%

12%

14%

AA B6 US UA DL Tiara Insel FL KL AV CM VNE

(Pax) % changes 2014 vs. 2013

2%

-3% -4% 5%

13%

-57%

49% 5% 10%

3%

25%

-81%

LOAD FACTORS PER REGION 2010 –2014

77%

83% 83% 84% 83% 84% 80%

84% 84% 89% 92%

47%

63% 62%

72%

79%

63%

69%

73% 82%

90%

82%

93%

70% 72% 73% 78% 77%

2010 2011 2012 2013 IATA 2013 YTD Q2 2014

USA

CANADA

LATAM

EU

ALL

Source: AAA,2014

ENHANCING THE AIRPORT “EXPERIENCE”

CONSTANT IMPROVEMENTS

Guarantee sufficient capacity

Expansion east apron & hold-rooms

The beautification of the terminal

Replace runway edge lights with LED system

Expansion project South Side (General Aviation)

CARIBBEAN ENVIRONMENT

Warm & friendly environment

Multi-lingual staff

SAFETY, SECURITY

US-Preclearance Facility

Security up to TSA standards throughout

ONE TERMINAL CONCEPT

User friendly Terminal

2013 Investment Cost

US$ 30,000,000 US$ 16,000,000 2014 Investment Cost

ENHANCING THE AIRPORT “EXPERIENCE”

ENHANCING THE AIRPORT “EXPERIENCE”

ENHANCING THE AIRPORT “EXPERIENCE”

LOUNGE MEETER & GREETER AREA and

NEW HOLD ROOMS

AIRPORT DEVELOPMENTS

• Replacement of runway edge lights with new LED system • East Apron extension with 2 new parking stands • Solar Panel car park

TOURISM

TOTAL NUMBER OF VISITORS Q2 2014

Source: ATA, 2014

0

200,000

400,000

600,000

800,000

1,000,000 728,157

732,514 694,372

771,304

826,774

812,666 824,330

871,316

906,099 979,256

489,871

Stay-overpassengers

CruisePassengers

Stay-Over-Visitors by Carrier YTD Q2 2014

Source: Aruba Tourism Authority 2014

Carrier 2008 2009 2010 2011 2012 2013 Q2 2014

Jetblue 90,232 106,664 116,635 126,165 133,119 137,786 67,990

United 38,956 22,955 23,770 22,116 94,819 103,482 60,914

US Airways 110,516 114,605 102,549 94,414 91,574 88,469 48,300

Delta 60,743 82,877 76,336 70,452 67,119 101,110 54,211

American Airlines 160,755 123,852 120,106 105,345 86,530 75,909 38,994

Air Tran - - 9,993 28,318 51,569 59,774 30,356

Tiara 22,984 21,232 25,841 32,507 38,769 54,980 11,781

Insel 11,527 11,657 20,123 35,573 38,877 44,689 27,102

Avianca 26,859 21,417 23,105 27,319 26,535 30,816 13,614

Copa Airlines 277 10,833 10,665 14,158 22,756 28,891 15,173

KLM 29,522 5,097 6,531 11,940 26,218 23,792 13,075

Aserca 29,067 15,728 14,436 16,981 24,174 35,074 17,553

La Venezolana - 44,051 31,814 36,092 23,525 18,496 1,247

Arke 12,131 14,946 13,962 16,338 16,188 14,884 6,619

Air Canada - - 5,224 7,009 7,235 7,258 4,551

Spirit - 5,159 4,743 6,031 4,925 5,902 3,417

SLM 2,730 4,682 5,241 5,934 5,303 6,043 3,220

Sunwing - - - - 13,040 15,197 8,440

Others 230,475 206,911 213,256 214,624 130,826 126,704 63,314

Total Visitors 826,774 812,666 824,330 871,316 903,934 979,256 489,871

AVERAGE LENGTH OF STAY BY PLACE OF RESIDENCE

Source: ATA, 2014

U.S.A. Venezuela Netherlands Brazil Canada Colombia

2012 7.5 5.9 11.1 7.1 7.4 8

YTD June 2014 7.26 5.52 12.65 6.49 8.77 7.91

0

2

4

6

8

10

12

14

Day

s

AGE GROUPS OF VISITORS

Source: ATA 2014

Age Groups 2011 2012 2013 YTD Q2

2014

< 20 years 14.8 14.96 14.99 14.0

20-29 years 13.6 13.48 13.53 12.6

30-39 years 17.1 17.21 17.77 16.8

40-49 years 18.5 18.20 17.64 17.6

50-59 years 18.6 18.53 18.27 19.5

60-69 years 12.6 12.69 12.67 13.9

>70 years 4.7 4.91 5.09 5.7

Unknown 0.0 0.02 0.03 0.0

Total 100% 100% 100% 100%

Source: ATA, 2011

RITZ CARLTON •Project opened end of 2013 HARD ROCK HOTEL •310- room Hotel and Casino

DESTINATION CAPACITY FORECAST 2011-2015

0

2000

4000

6000

8000

10000

12000

14000

2011 2012 2013 2014 2015

Hotel

Timeshare

Condos

Total Rooms

0

10

20

30

40

50

60

70

80

90

100

Jan Feb Mar Apr May June July Aug Sep Oct Nov Dec

2009 2010 2011 2012 2013 2014

Source: AHATA,2014

Average rates 2009 72.0% 2010 74.4% 2011 75.7% 2012 77.8% 2013 75.7% Q2 2014 77.9%

HOTEL OCCUPANCY RATES 2014

NETWORK OVERVIEW

Source: APGDat/ Map Utility

Connecting the World to Aruba -US market Miami, Atlanta, Charlotte, JFK -Europe Amsterdam -South America Bogota, Caracas ,Panama City, Miami -Central America Panama City, Miami -Caribbean Miami (long term San Juan)

PURPOSE OF VISIT

Source: ATA 2014

72%

5%

3% 2%

17%

Vacation

Business (Meeting, Incentive & Conference)

Honeymoon

Wedding

Not specified

DESTINATION STAY-OVER –VISITORS YTD Q2 2014

Source: ATA, 2014

Growth per Segment

(2014 vs. 2013)

Percentage Market share YTD Q2 2014

61% 24%

8% 5% 3%

USA

LATIN AMERICA

EUROPE

CANADA

CARIBBEAN

2%

19%

3%

-5% -4%

USA

LATINAMERICA

EUROPE

CANADA

CARIBBEAN

DMA* UNITED STATES YTD Q2 2014

Source: ATA, 2014

(Stay over Visitors) Growth per

Segment

(2014 vs. 2013)

(SOV) Percentage Market share 2014

53%

10%

14%

15%

7% North East

Mid Atlantic

South East

Mid West

West

0%

-2%

6% 7%

3%

North East

Mid Atlantic

South East

Mid West

West

* DMA: Designated Market Area

Latin

Am.

Argentina Chile Ecuador Brazil Colombia Peru

2009 148,825

(-2%)

5,486 1,345 1,186 10,594 15,685 1,092

2010 146,113

(-2%)

6,365 1,842 2,537 20,237 15,037 1,375

2011 185,054

(+27%)

10,326 2,432 3,579 22,428 17,022 1,405

2012 212,353

(+14%)

12,877 3,163 1,699 21,070 18,373 1,020

2013 266,990

(+26%)

15,574 5,505

1,272

23,293

19,485

1,213

YTD Q2

2014

116,267

(+19.4%)

6,559

(-18%)

3,830

(+57%)

602

(+10%)

11,383

(+17%)

10,747

(+22%)

443

(-4%)

Destination Background: Stay-Over Tourism Latin America market (+19.4%)*Venezuela 76,162

Statistics 2009 – 2014 ATA

Source: DIIO/AAA,2014

FEEDER PAX

ONE-WAY

% Booking Agency/ Airline

GATEWAYS AIRLINES

PIT - Pittsburgh 6164 49%/51% CLT 32%/ ATL 25%% / EWR 9% US, DL, UA

DTW - Detroit 5396 50%/50% ATL 44% / CLT 28%/ MIA 12% DL, US, AA, FL

BDL – Hartford, CT 4482 49%/51% BWI 20%/ CLT 33%/ MIA 16% FL, US, AA

LAX – Los Angeles 3719 47%/53% MIA 37%/ PTY 15%/ ATL 14% AA, CM, DL

MSP - Minneapolis 3077 48%/52% ATL 50%/ CLT 35%/ EWR 3% DL, US, UA

PVD - Providence 2384 50%/50% CLT 53%/ BWI 21%/ PHL 11% US, FL, UA

DFW – Dallas 2375 46%/54% MIA 60%/ CLT 23%/ ATL 10% AA, US, DL, FL

CLE - Cleveland 2102 54%/46% CLT 32%/ EWR 16%/ MIA 16% US, UA, AA

TPA – Tampa 2041 46%/ 54% MIA 56%/ ATL 27%/ CLT 12% AA, DL, US

SFO –San Francisco 1965 43%/57% MIA 22%/ JFK 25%/ EWR 13% AA, UA, DL, B6 DCA – Washington

Reagan 1904 46%/54% MIA 42%/ ATL 21%/ JFK 11% AA, DL

DEN - Denver 1802 41%/ 59% MIA 25%/ CLT 22%/ BOS 16% AA, US, B6

LAS – Las Vegas 1321 33%/ 67% MIA 18%/ YYZ 14%/ PTY 14% AA, WG, CM

US CHANNELS OF DISTRIBUTION

JAN 2014 – JUNE 2014 SCHEDULED SERVICE

Source: DIIO/AAA

FEEDER PAX

ONE-WAY

GATEWAYS AIRLINES

GRU – Sao Paulo 4,047 BOG 53% / PTY 43% / MIA 3% AV, CM, AA

EZE – Buenos Aires 2,940 PTY 39% / BOG 45% / MIA 13% CM, AV, AA

SCL – Santiago de Chile 2,764 BOG 59% / PTY 40%/ MIA 1% AV, CM,AA

MDE - Medellin 1,517 BOG 49%/ PTY 36%/CUR 13% AV, CM,7I

CLO - Cali 1,015 BOG 72% / PTY 24% AV, CM

COR – Cordoba 784 PTY 100% CM

LIM – Lima 617 PTY 56% / BOG 37%/ MIA 1% CM, AV, AA

SJU- San Juan 543 MIA 50%/ PTY 48%/JFK 1% AA,CM, B6

SJO- San Jose 524 PTY 90%/ BOG 6%/ MIA 3% CM, AV, AA

MEX – Mexico City 402 BOG 61% / MIA 31%/ PTY 5% AV, AA,DL

UIO – Quito 371 BOG 64% / PTY 34% AV, CM

CHANNELS OF DISTRIBUTION LATAM FEEDERS

Jan 2014 – June 2014 SCHEDULED SERVICE

AIR SERVICE INCENTIVE PACKAGE AIRLINE PARTNERS

Charges New Existing Restart

Route Route Route

Passenger - per enplaned passenger (>1 yrs since)

Passenger Facility Charge (PFC) US$ 23.50 US$ 23.50 US$ 23.50 US$ 23.50 US$ 23.50

Security Surcharge US$ 2.50 US$ 2.50 US$ 2.50 US$ 2.50 US$ 2.50

General Usage Charge US$ 8.25 US$ 8.25 US$ 8.25 US$ 8.25 US$ 8.25

Special Facility Charge (SFC) US Bound only US$ 3.25 US$ 3.25 US$ 3.25 US$ 3.25 US$ 3.25

Transfer Charge US$ 3.00 US$ 3.00 US$ 3.00 US$ 3.00 US$ 3.00

Airline

OFF PEAK*

Landing Fee - per 1000kg, min charge of US$5.65 US$ 2.74 waived 12 mo. waived 6 mo. waived 3 mo. US$ 2.61

Parking Fee - 3rd - 24th hour for every 1000kg US$ 0.54 waived 12 mo. waived 6 mo. waived 3 mo. US$ 0.51

first 2 hours free - 25th and over for every 1000 kg US$ 0.27 waived 12 mo. waived 6 mo. waived 3 mo. US$ 0.26

Push-Back, Relocation and Towing Charges - US$ 40.22 waived 6 mo. waived 3 mo. waived 3 mo. US$ 38.21

a flat fee per type of aircraft starting at US40.22**

Office Rental Rates per m2 US$ 82.95 waived 6 mo. US$ 82.95 US$ 82.95 US$ 82.95

charges are subject to change

*OFF PEAK - applicable for US Bound incoming flights - Peak days Friday/Saturday/Sunday

To qualify for Incentive Rebate: On-time payment

** if service provided by AAA N.V.

Scheduled Airline Commitment - Operate the qualifying flight(s) throughout the promotional period.

Scheduled Charter Commitment - Operate the qualifying flight(s) during entire seasonal or year round operation.

23.00

3.00

8.25

3.25

3.00

23.00

3.00

8.25

3.25

3.00

23.00

3.00

8.25

3.25

3.00

23.00

3.00

8.25

3.25

3.00

23.00

3.00

8.25

3.25

3.00