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Mr. Roberto Artavia Loria will become one of the independent directors of Copa Holdings in connection with this offering. He is currently Chief Executive Officer of INCAE Business School Chairman of Asociacion MarViva de Costa Rica and Protector of Viva Trust. Mr. Artavia Loria is also an advisor to the Interamerican Development Bank and to the governments of nine countries in Latin America and a strategic advisor to Purdy Motor S.A. Grupo Naci�n and FUNDESA. Mr. Artavia Loria serves on the board of directors of INCAE Business School Foundation for Management Education in Central America Asociacion MarViva de Costa Rica Viva Trust Global Foundation for Management Development Compa��a Cervecera de Nicaragua SUMAQ Alliance OBS de Costa Rica and OBS Americas. | 