ADP // 2021 Universal Registration Document

F I NANC I AL I NFORMAT I ON

GROUPE ADP CONSOLIDATED FINANCIAL STATEMENTS AS OF 31 DECEMBER 2021

perimeter is capped because global result of airport charges cannot be higher than cost of services performed (including weighted average cost of capital). Groupe ADP took part to the consultation launched by ART about determination of general framework in which will be described allocation rules. Another consultation about decision project has been announced by ART but not yet achieved. Potential effects would be evaluated once the publication of the text would be done. Acquisition of Almaty International Airport in Kazakhstan Almaty Airport, located in the economic capital of Kazakhstan, is the largest airport in Central Asia: it handled around 6.4 million passengers in 2019, just under half of them on international routes. Kazakhstan, the largest landlocked country in the world with 2.7 million km 2 , is the engine of economic growth in the region and accounts for 60% of Central Asia’s GDP. TAV Holding (whose capital is 46.38% owned by Groupe ADP) indirectly acquired through holding companies, 85% of Almaty International Airport JSC, its subsidiaries (Almaty Catering Services LLP and Almaty FBO LLP) and fuel related businesses carried on by Venus Trading LLP. The partner holding the remaining 15%, KIF Warehouses Coöperatief U.A. (investment fund held by VPE Capital and Kazina Capital Management), has a put option on the shares it holds and the Group benefits from a call option that can be exercised in the event of disagreement.

At closing date, the debt relating to the put option was estimated at 35 million euros. As the Group has the capacity to impose its decisions on relevant activities, the companies acquired are fully consolidated. Closing took place on 29 April 2021, and the acquisition price amounts to $417 million ( i.e. €344 million) and breaks down as follows: ◆ $365 million paid on 29 April 2021; ◆ $7 million paid in July 2021 as an adjustment to take into account the net indebtedness, working capital requirement and cash of acquired companies on the acquisition date; ◆ $45 million (corresponding to the present value of the $50 million payment) payable no later than 2030 or earlier depending on traffic levels. The acquisition costs for this transaction amounted to 4 million euros and were recognized as expenses. According to IFRS 3 “Business Combinations”, the acquisition price has been provisionally allocated between the various identifiable assets and liabilities of the companies acquired. This work to identify and measure assets and liabilities at fair value on 29 April 2021 was carried out with the help of a consulting firm and resulted in the recognition of a provisional partial goodwill for an amount of $87 million dollars (€72 million).

6

(in millions of euros)

Almaty International Airport JSC & Venus Trading LLP

Assets and liabilities acquired - at 100%

Total non-current assets

263

Total current assets

47 37

Total non-current liabilities

Total current liabilities Net assets at 100%

14

A B

259 344

Acquisition-date fair value of the total consideration transferred at 100%

Preliminary Full Goodwill at 100%

B-A

85 72

Preliminary Partial Goodwill at 85% booked

The chart below shows in column A the revenues, EBITDA and net income of Almaty International Airport JSC & Venus Trading LLP since the date of the acquisition of control (29 April 2021) and in column B the same indicators for the entire fiscal year 2021 as if the Group had acquired control on 1 January 2021.

A April 29 th to 31 December 2021

B January 1 st to 31 December 2021

(in millions of euros)

Revenue EBITDA

105

139

20

19

Net income

3

(1)

Net income attributable to the Group

1

-

TAV Construction and Almaty International Airport have entered into an engineering, procurement and construction (EPC) contract detailed in note 14.

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