Investor Presentaiton

HAS USE OF $200M CARES ACT GRANT FUNDING Millions $250 $200 -8 $150 + Houston Airports was awarded $200M in CARES Act grant funding CARES Act funds treated as Grants, not as Revenues ✈ $8 million was used to offset a portion of HAS' FY20 annual debt service requirement ✈ HAS plans to use $152M in FY21 $100 200 $50 -125 -27 ✈ $125M to offset subordinate lien debt service ✈ $27M to offset operating expenses (O&M) 40 ✈ Will result in a $90M reduction of the costs allocated to airlines ✈ Annual debt service requirement for Subordinate Lien Bonds, net of PFCs, will be paid by CARES Act reducing debt service requirements, as defined in master bond ordinance, to zero ✈ HAS has not yet allocated the use of approximately $40M of the remaining CARES Act proceeds allowing for risk management $0 FY20 Debt Service FY21 O&M Offset CARES Act Grant FY21 Debt Service FY21 End Balance HOUSTON AIRPORTS 20

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