1 Copa Airlines Joe Mohan – Commercial Vice President

2 Panama rose from the oceans to become the ideal “connection point” for the Americas

3

4

5

6

7

8

9

10

11 “Vision is the art of seeing the invisible.” -Jonathan Swift ( ) “Success is the art of committing to a brilliant vision.” -Alvaro Villanueva (1985-)

12

13

14

15

16

17

19

20

21

22

23

24 LOREM & IPSUM _________________ Meridius Decimus  Lorem ipsum dolor sit amet, consectetur adipiscing elit. Sed iaculis arcu sit amet nisl auctor semper. Duis gravida metus nec arcu egestas dictum. Ut elit magna, rhoncus tincidunt dapibus sit amet, volutpat eget magna. Praesent venenatis dictum tempor. Copa Airlines, a Latin-American Success Story Copa Airlines connects the Americas with an industry leading performance and award winning service Premier Latin- American Hub Top Tier Operating Margins Deutsche Banks: “…one of Latin America's best managed and most profitable airlines…” J.P.Morgan: “… Copa’s margins continue to dwarf those of its US Legacy, US Discount, and Brazilian peers, both in sheer magnitude and stability….” Citigroup: “…Copa is poised for above- normal attractive growth…” Credit Suisse: “… confirm our view of Copa’s great competitive advantages, focus on profitability, and ability to grow at a high pace …”

25

26

27 Tocumen Panama El Dorado Bogota Juan Santamaría San Jose Comalapa San Salvador Jorge Chavez Lima Advantages 1. Altitude 2. Weather 3. Network Non-stop Destinations Central and S. America Caribbean North America Total 4. Airport Capacity Jetbridges Sea Level Favorable  34 8,200 ft. Unfavorable  14 3,000 ft. Unfavorable Sea Level Favorable Sea Level Favorable  ?

28

< 29

30

32

34

35