ADP // 2021 Universal Registration Document

PRESENTAT I ON OF THE GROUP

COMPETITIVE POSITION

1 . 3 COMPET I T I VE POS I T I ON

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Groupe ADP in Paris faces several types of competition for all passenger traffic routes and for the air cargo business.

AVIATION

Groupe ADP’s medium-haul passenger traffic in Paris faces direct competition from other airports serving the same catchment area. This is mainly Paris-Beauvais, which is the Paris base for the main European low-cost airline, Ryanair. Long-haul passenger traffic to and from Paris is in competition with all the airports that offer connecting service (hubs). All the main European airports (Frankfurt, London, Amsterdam, Madrid) also offer connecting service. To this long-standing competition has been added that of medium-sized European airports (Lisbon, Dublin, Helsinki, Reykjavik, etc.) mainly towards the American and Asian continents. Lastly, competition from the Gulf and Istanbul hubs is increasing, particularly for Europe-Asia. Connecting passenger traffic in Paris is in competition with all the hubs mentioned above since the passengers concerned go through Paris to make a connection that they could make at another airport.

CARGO ACTIVITIES Short-haul passenger traffic is steadily decreasing as the high speed rail network (LGV) develops. Since 1981 and the launch of the Paris-Lyon TGV, the Eurostar, the Thalys, and the high-speed lines connecting Paris to Marseille (2001), Strasbourg (2007) and, more recently, Bordeaux (2017) have offered passengers alternatives to air links. The latter now represent only a negligible share of the transport market on these routes, which were nevertheless among the busiest. Most of the decrease is concentrated on connections to and from Paris-Orly, where most of the traffic is point-to-point. At Paris-Charles de Gaulle, the operation of the SkyTeam hub allows the traffic of these lines to resist better. The opening of direct routes between French provincial cities and the main European hubs, such as Amsterdam-Schiphol, Frankfurt, London-Heathrow or Madrid-Barajas, made possible by the single European aviation market, has also had a negative effect on the short-haul traffic generated by passengers from the regions who can make a connection avoiding the Paris hub. Conventional freight traffic is a competitive business. Indeed, any goods flown to a European airport can reach their final destination by trucking while respecting the contractual delivery deadlines. Paris airports are in competition, in particular, with the Frankfurt Airport whose annual tonnage is very close to that of Paris Aéroport. Express freight traffic is also in competition, but requires that part of its activity be operated at night to meet its contractual delivery deadlines (24 hours for intercontinental shipping). The Paris-Charles de Gaulle Airport, which is not subject to a night curfew, has become the main European entry point for FedEx, one of the three main global express freight operators with DHL and UPS. Paris-Charles de Gaulle competes with other European airports with night-time activities, including Liège (FedEx’s

second base in Europe), Cologne (UPS’s main base) and Leipzig (DHL’s main base). As for airmail traffic, it faces competition from the development of digital media, which is reducing the volume of traditional mail. The air mail business is shifting towards express freight and Paris, which is La Poste Group’s main air base, faces competition from the express freight mentioned in the previous paragraph. As part of the “2025 Pioneers” strategic roadmap 1 , Groupe ADP plans to support the acceleration of the global development of the cargo business and thus confirm its positioning as a key global player in this activity, particularly at Paris-Charles de Gaulle by consolidating the long-term growth of 65% in airport fees recorded between 2019 and 2021.

COMMERCIAL AND SERVICE ACTIVITIES OF THE PARIS REGION’S AIRPORTS

for each media, between different places of communication (for outdoor advertising, airports, street furniture, railway stations, etc.). Paris Aéroport is therefore in competition with a large number of players and various media.

Retail and advertising activities face a strong competitive environment. When it comes to advertising, advertisers are constantly adjusting their communication budgets between different media (outdoor advertising, digital, TV, press, etc.), and

1 Announced at Investor Day on 17 February 2022 (see Section 5.1 “Significant events” of this document).

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AÉROPORTS DE PAR I S / UN I VERSAL REG I STRAT I ON DOCUMENT 202 1