Company: CTTRF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001292814-25-001765
Chunk: 260

Company: Controladora Vuela Compania de Aviacion, S.A.B. de C.V.
Filing Date: 2025-04-30
Form: 20-F
Item: Item 11
Chunk 260
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 during a time when the depositary cannot convert the foreign currency, ADS holders may lose some or all of the value of the
distributions. Before making a distribution, the depositary will deduct any withholding taxes that must be paid. See Item 10: “ Additional
Information - Taxation.” It will distribute only whole U. S. dollars and cents and will round fractional cents to the nearest
whole cent.

Share
Dividends and Distributions. The depositary may distribute additional ADSs representing any additional CPOs issued as a result
of our issuing a share dividend or distribution. The depositary will only distribute whole ADSs. It will sell CPOs or Series A Shares,
which would require it to deliver a fractional ADS and distribute the net proceeds in the same way as it does with cash. If the depositary
does not distribute additional ADSs, the outstanding ADSs will also represent the new CPOs. The depositary may sell a portion of the distributed
CPOs or Series A shares sufficient to pay its fees and expenses in connection with that distribution.

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Rights
to Purchase Additional CPOs. If the CPO trustee offers CPO holders any rights to subscribe for additional CPOs or any other
rights, the depositary may make these rights available to ADS holders. If the depositary decides it is not legal and practical to make
the rights available but that it is practical to sell the rights, the depositary will use reasonable efforts to sell the rights and distribute
the proceeds in the same way as it does with cash. Under current Mexican law, preemptive rights with respect to our common stock may not
be sold apart from the applicable shares. The depositary will allow rights that are not distributed or sold to lapse. In that case, ADS
holders will receive no value for them. If the depositary makes rights to purchase CPOs available to ADS holders, it will exercise the
rights and purchase the CPOs on their behalf. The depositary will then deposit the CPOs and deliver ADSs to the applicable holders. It
will only exercise rights if holders pay it the exercise price and any other charges required by the terms of the rights. U. S. securities
laws may restrict transfers and cancellation of the ADSs representing CPOs purchased upon exercise of rights. For example, holders may
not be able to trade these ADSs freely in the United States. In this case, the depositary