ADP // 2021 Universal Registration Document

BUS I NESS OVERV I EW FOR THE YEAR 202 1 AND FORWARD - LOOK I NG I NFORMAT I ON

ANALYSIS OF THE 2021 CONSOLIDATED RESULTS

Net result attributable to the Group

2021 1

2020 2

2021/2020

(in millions of euros)

EBITDA

751

168

+€583M +€352M +€159M

Amortisation and impairment of tangible and intangible assets

(719) (61) (29)

(1,071) (220) (1,123)

Share of profit or loss in associates and joint ventures 2

Operating income from ordinary activities Other operating income and expenses

+€1,094M +€260M +€1,354M

9

(251)

Operating income Financial income Income before tax Income tax expense

(20) (218) (238)

(1,374) (390) (1,764)

+€172M

+€1,526M

(9)

255

-€264M

Net income from continuing operations Net income from discontinued operations

(247)

(1,509)

+€1,262M

(1)

(7)

+€6M

Net income

(248)

(1,516) (347) (1,169)

+€1,268M

Net income attributable to non-controlling interests

0

-€347M

5

Net income attributable to the Group +€921M 1 The accounts of the management company of Almaty airport have been integrated into TAV Airports’ consolidated accounts from May 2021 onwards (On the acquisition of the management company of Almaty airport, see page 13 of the 2021 half-year results, released on 28 July 2021). 2 Groupe ADP has accounted the results of the GMR Airports group using the equity method at 24.99 % between March and June 2020 and at 49 % from July 2020 (on the stake acquisition in GMR Airports, see the press releases of 20 and 26 February, and 7 July 2020). (248)

Financial result stood at -218 million euros, up by +172 million, mainly due to the restructuration agreement on the debt of TAV Tunisia (for a net gain of +109 million euros) and to the favorable base effect due to the impairments of international stakes for 125 million euros over 2020. Meanwhile, the cost of gross debt has increased by +30 million euros. Net financial debt 3 of Groupe ADP stood at 8,011 million euros as of 31 December 2021, compared to 7,484 million euros as of 31 December 2020. Income tax constituted a tax expense of 9 million euros over 2021, compared to a tax income of 255 million euros for the year 2020, related to the increase in the income before tax. Net income stood at -248 million euros over 2021, compared to -1,516 million euros in 2020. Taking into account all these items, the net result attributable to the Group was up by +921 million euros compared to 2020, at -248 million euros.

Operating income from ordinary activities stood at -29 million euros, up by +1,094 million euros, mainly due to: ◆ the improvement of EBITDA for +583 million euros; ◆ the favorable base effect due to the accounting over 2020 of impairments on intangible assets of Société de Distribution Aéroportuaire (for -41 million euros), of Relay@ADP (for -25 million euros) and of intangible international assets (for -252 million euros); ◆ the improvement of results from companies consolidated under the equity method, up by +159 million euros compared to 2020, at -61 million euros, mainly under the effect of the gradual recovery in traffic. Operating income stood at -20 million euros, up by +1,354 million, mainly due to: ◆ the improvement of operating income from ordinary activities for +1,094 million euros; ◆ the favorable base effect due to the accounting of a provision 1 for departure plan and for an impairment 2 on the goodwill recorded upon the takeover of an international concession.

1 For an amount of 208 million euros at 31 December 2020. 2 For an amount of 43 million euros at 31 December 2020. 3 Gross debt less fair value hedging assets, cash and cash equivalents and restricted cash.

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