WIXLIB

The Leading Ultra-Low-Cost Airline ServingMexico and the USMarch 2015

DisclaimerThe information ("Confidential Information") contained in this presentation is confidential and is provided by ControladoraVuela Compañía de Aviación, S.A.B. de C.V., (d/b/a Volaris, the "Company") confidentially to you solely for your referenceand may not be retransmitted or distributed to any other persons for any purpose whatsoever. The Confidential Informationis subject to change without notice, its accuracy is not guaranteed, it has not been independently verified and it may notcontain all material information concerning the Company. The Company, nor any of their respective directors makes anyrepresentation or warranty (express or implied) regarding, or assumes any responsibility or liability for, the accuracy orcompleteness of, or any errors or omissions in, any information or opinions contained herein. None of the Company or anyof their respective directors, officers, employees, stockholders or affiliates nor any other person accepts any liability (innegligence, or otherwise) whatsoever for any loss howsoever arising from any use of this presentation or its contents orotherwise arising in connection therewith. No reliance may be placed for any purposes whatsoever on the information setforth in this presentation or on its completeness.This presentation does not constitute or form part of any offer or invitation for sale or subscription of or solicitation orinvitation of any offer to buy or subscribe for any securities, nor shall it or any part of it form the basis of or be relied on inconnection with any contract or commitment whatsoever. Recipients of this presentation are not to construe the contents ofthis presentation as legal, tax or investment advice and should consult their own advisers in this regard.This presentation contains statements that constitute forward-looking statements which involve risks and uncertainties.These statements include descriptions regarding the intent, belief or current expectations of the Company or its officers withrespect to the consolidated results of operations and financial condition, and future events and plans of the Company. Thesestatements can be recognized by the use of words such as "expects," "plans," "will," "estimates," "projects," or words ofsimilar meaning. Such forward-looking statements are not guarantees of future performance and actual results may differsignificantly from those in the forward-looking statements as a result of various factors and assumptions. You are cautionednot to place undue reliance on these forward looking statements, which are based on the current view of the management ofthe Company on future events. The Company does not undertake to revise forward-looking statements to reflect futureevents or circumstances.2

Solid fourth quarter 2014 results confirm reversal of trendDisciplined capacity management: International ASMs grew 14% in 4Q and 17% FY,while Domestic ASMs remained stable for the quarter, supporting yield recovery.Total ASMs grew only 3% during the quarter and 8.5% for the year.Total operating revenues: Increase 24% for the quarter and 8% full year, reachingPs. 3,958 million and Ps. 14,038 million, respectively.Continuous non-ticket revenue growth: Non-ticket per passenger reached Ps. 313 (US 23(1)) and Ps. 279 (US 21(1)), for the quarter and full year; an increase of 61% and 31%,respectively. Year end non-ticket revenues represent 19% of Total Revenues.Costs control & strong profitability: CASM ex fuel was Ps. 74.4 cents (US 5.37cents(1))during 4Q and Ps. 71.6 (US 5.38 cents(1)) FY; maintaining lowest unit cost in the Americas.EBITDAR margin of 31% and 22%, an increase of 16.1 p.p. and 0.4 p.p., for the quarterand FY, respectively.Positive cash flow generation, strong balance sheet and good liquidity: Net increaseof cash by Ps. 342 million for the quarter; generating 16% of LTM revenues and negativenet debt (or positive net cash position) of Ps. 1,017 million.Notes:(1) Converted to USD at an average exchange rate corresponding for the period.3

Volaris – Mexico’s Ultra-Low-Cost Carrier’s snapshot at30,000 feetServing to 57 destinations throughout Mexico and the US2008Unit cost(CASM ex-fuel;cents, USD)(1)2014Volaris’ destinationsCAGRPortland5.55.4SacramentoOaklandSan Jose-0.4%FresnoPassengerdemand(RPMs, bn)3.29.7 20.5%Los AngelesSan DiegoTijuanaChicago (Midway/O’Hare)DenverRenoLas VegasFY14 Int. PaxRevenue 28%OntarioPhoenixMexicaliDallasCiudad JuárezAircraft(End of Period)2150 15.6%Passengers(mm)(2)3.59.8 18.7%Operating revenue(mm, USD)(1)397Adj. EBITDAR(mm. USD)(1)67Adj. ROIC (pretax)11.0%1,056 17.7%232HoustonOrlandoHermosilloSan AntonioChihuahuaCiudad ObregónMonterreyFort LauderdaleLos MochisTorreónCuliacán ZacatecasLa PazTampicoLos Cabos MazatlánSan Luis �nQuerétaroGuadalajaraMoreliaPuerto VallartaCd. de UruapanTuxtla GutiérrezAcapulco OaxacaTapachulaHuatulcoFY14 Dom. PaxRevenue 72% 23.0%Domestic market share(3)13.5% 2.5pp12.2%Notes:(1) Converted to USD at an average annual exchange rate(2) Corresponds to the number of booked passengers(3) Based on number of passengers, domestic and international passengersSource: Company data, SCT-DGAC200820.7%22.7%23.0%2012201320144

Volaris’ low base fares stimulate demand and drivecontinuing growthSince its launch, Volaris has stimulated new demand in the Mexican market through an aggressiverevenue management strategy that drives lower fares and higher load factorsLower basefaresLower costStimulationofdemandResilient ULCC businessmodel driving high,profitable growthMoreancillaryrevenueMore capacity5

Volaris’ ULCC business model is clearly differentiated fromlegacies, hybrids and other 19.7(2)8.8CASM FY 2014(cents, USD)(1)Low ticket prices FY 2014Average Fare (USD)(1) 16710345(2)876.78.523.4(2)19.2Non-ticket rev. exc. Cargo FY 2014Non-ticket rev. exc. Cargo per pax (USD)(1)Modern & uniform fleetAverage age fleet (years) 8.96.419.74.211.48.88.412.3High daily utilizationBlock hours per dayOther/ eg. (No GDS) Legacy Hybrid/LCC ULCCNotes;(1) Converted to USD at an average exchange rate corresponding for the period, 13.2973 Ps.(2) Figures updated as per latest public reports as of September YTD 2014Source: Company data, data airlines public information, DGAC reports, MI DIIO6

Volaris has a best-in-class unit cost structureLowest unit cost in the Americas(1)CASM and CASM ex-fuel (FY 2014, USD 10.48.08.68.56.65.4Avianca (4)(4)LatAmAeromexicoGol (4)InterjetLatin American CarriersCopa5.5VivaAerobus (4)6.6SouthWest Allegiant5.9SpiritUS LCCsDenotes fuelcost per ASMNotes:(1) Based on CASM among the publicly-traded airlines(2) DCOMPS Direct Competitors: Average CASM and CASM ex-fuel; US network carriers include: Delta, United, Alaska Airlines, American Airlines(3) Non-USD data converted to USD at an average exchange rate corresponding for the period, 13.2973 Ps.(4) Based on CASM among the publicly-traded airlines as of September YTD 2014Source: Company data, Airlines public informationDCOMPSUS NetworkCarriers(2)7

Focus on fleet utilization and efficiency drives higher revenueand lower cost: A320 retrofit and A321 arrival(1)High density configuration(5)Volaris A320179 seats per aircraftLoad factor(FY 2014)Implied passengersper aircraft(2)82%147Aeromexico 737-800160 seats per aircraftInterjet A320150 seats per aircraftAeromexico79%127VivaAerobus 737-300148 seats per aircraftInterjet72%109VivaAerobus (3)81%12012.3High daily utilizationYoung, fuel efficient fleetBlock hours per day (FY 2014)(4)Average age (Yrs, FY xicanAverageAeromexicoInterjetNotes:(1) A320 retrofit and factory fit to 179 seats/A321 arrival with 220 seats(2) Implied passengers per aircraft is calculated as available seats per aircraft multiplied by the load factor(3) Figures updated as per latest public reports as of September YTD 2014.(4) Block hours per day calculated as ((Total block hours for the period / Monthly average number of aircraft) / Number of days for the period)(5) Aeromexico, Interjet and VivaAerobus represent domestic competitors of VolarisSource: Company data, airlines public information, DGAC, Airbus, miDiio8

Bus passenger shift to air travelSignificant upside for air travelTotal bus trips(mm)Air travel time and cost savingsTotal air travel trips(mm)Mexico City – TijuanaTravel time (Hrs)2,78114540.536.5 hours less2,706Fare (USD)(2,3)24% cost savings110604.030752013Executive &luxuryFirst, economyand other302013Bus(1)AirBus(1) Mexico is almost three times the size of the state of TexasInternationalDomestic The distance between Tijuana and Cancún is similar to thedistance between New York City and San Francisco 4Q14 bus switching campaign resulted in a great success:Notes:(1) Executive and luxury class(2) Fare figures calculated with average prices for September 2014(3) Non-USD data converted to USD at an average exchange rate corresponding for the periodSource: Company data, Secretaría de Comunicaciones y Transportes (SCT)- Education an trial plans went viral- Reached 20M impacts in social media and becametrending topic in Twitter: 8.4M impacts9

Unbundled strategy: “Tú decides” – You decidePre-flight(1) V-Club subscription(113k active)suscriptions) Co-branded creditcards (106k activecardholders) Manage mybooking VempresaFlightplanning Seatassignment Change /booking fees Insurance Packages Additional formsof paymentAt theairport Excessbaggage Checkedbag limitedto 1 piece(25kgs.) Advertising Food andbeveragePost-flight Hotelrooms Car rentals Airportshuttle Carry-on(oversized) Strollers TravelCommerce Priorityboarding IOS mobile app Check-inNotes:(1) V-Club & Co-branded credit cards figures as of January 31th,2015Onboardaircraft10

Acceleration of Volaris’ non-ticket revenuesIncreased contribution of non-ticket revenue to the top lineNon-ticket revenue(USD mm)(1)2009 – 2014 CAGR: 53.2%206115Contributionto 201314%201419%Non-ticket revenue per passengerBest-in class US LCC’s(FY 14, USD)Volaris (USD)(1)502009 – 2014 CAGR: 24.5%55217920092010112011151720122013Notes:(1) Converted to USD at an annual average exchange rate corresponding for the periodSource: Company data, Airlines public information2014AllegiantSpirit11

Attractive growth opportunities in Mexico andthroughout the Americas50Domestic – growth potential of nearly 122routes (4)International – growth potential of about 139routes (4)Number of routes(1)Number of routes(2)4848991004140403875304850203213251000USA (Leisure)Routes servedCapacity – ASMs(Year-over-year change)Total(3)USA (VFR)CAM, SAM,Canada, Growth potential4Q143%FY149%1Q159% - 10%FY15E10% - 12%Domestic-1%6%2% - 3%2% - 4%International14%17%30% - 32%33% - 36%Notes:(1) Minimum stage length of 170 miles(2) Minimum stage length of 200 miles; CAM stands for Central America; SAM stands for South America(3) South and northbound leisure routes(4) Figures calculated as of December 2014.Source: Company data and DIIO MI Market Intelligence for the Aviation Industry12

Substantial growth opportunity in the US-Mexico VFR /leisure travel mmSacramento0.3mmFresno0.5mmLas Vegas0.4mmSan Jose0.4mmPhoenix1.2mmAlbuquerque0.2mmLos .7mmChicago1.5mmDenver0.5mmAustin0.4mmEl Paso0.6mmWashington0.1mmDallas1.5mmSan Antonio0.9mmNew Mission0.6mmDenotes Volarispresence(1)Denotes other cities with largeMexican origin populations(1,2)Notes:(1) Represents Mexican origin population figures as per population data released on May 26, 2011(2) Mexican origin is based on self-described ancestry, lineage, heritage, nationality group or country of birth.Source: Pew Research Hispanic CenterTampa0.1mmOrlando0.1mmMiami0.1mmSan Benito0.3mmSignificant Mexican originpopulation(2) of 33.7 millionin the US13