ADP // 2021 Universal Registration Document

F I NANC I AL I NFORMAT I ON

GROUPE ADP CONSOLIDATED FINANCIAL STATEMENTS AS OF 31 DECEMBER 2021

4.9 Investment in associates and joint ventures

2027 and 31 December 2051 (see note 2.1). The current operating conditions of the airport remain unchanged until 31 December 2026. ◆ TGS and ATU , 50%-owned joint ventures by TAV Airports, specialising in ground handling and duty-free respectively. ◆ Royal Schiphol Group N.V (“Schiphol Group”) , which operates Amsterdam Airport, created with Aéroports de Paris SA a long-term industrial cooperation and capital 8% cross-equity investment agreement at the end of 2008 that created a leading alliance in the global airport industry. The agreement expired on 30 November 2021, the date on which the Group no longer exercises significant influence. The shares are therefore reclassified as other non-current financial assets as from these date. ◆ Sociedad Concesionaria Nuevo Pudahuel , joint-venture 45%-owned by ADP International, 40%-owned by Vinci Airports and 15%-owned by Astaldi, operating the concession of Santiago International Airport for a period of 20 years and with the objective to ensure the financing, design and construction of a new 175,000-square meter terminal. For the analysis of control, (refer to note 3.1).

Principal investments in companies over which the Group exercises significant influence or joint control are described below: ◆ GMR Airports Limited: Since 7 July 2020, Groupe ADP owns a 49% stake in GMR Airports Ltd. GMR Airports Ltd, has a portfolio of world class assets comprising six airports in three countries (India, Philippines and Greece) and a subsidiary in project management (“GADL”). The two main concessions, Delhi and Hyderabad, have a term of 30 years renewable once which began on 3 May 2006 and 23 March 2008 respectively. Renewal is at the discretion of GMR Airports, for Hyderabad concession. Regarding Delhi concession, renewal presupposes that certain operational conditions are still met at the end of the first 30-year period, which are in particular quality of services conditions provided in the concession contract. Thus, as long as these conditions are met, renewal is going to be at the discretion of GMR Airports. For the analysis of control, (refer to note 3.1). ◆ TAV Antalya: a joint venture of TAV Airports and Fraport which operates Antalya International Airport in Turkey. The consortium won the tender in 2021 for the renewal of the airport concession for a period of 25 years, between 1 January

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4.9.1 Share of profit or loss of associates and joint ventures The amounts included in the income statement are broken down by segment as follows:

2021 1

2020

(in millions of euros)

International and airport developments

(61)

(214)

Retail and services

- - -

(5)

Real estate

-

Other activities

(1)

SHARE OF PROFIT OR LOSS IN ASSOCIATES AND JOINT VENTURES

(61)

(220)

1 The amount includes the losses of associates and joint ventures entities as well as reversal impairments for €24 million.

Schiphol Group over a maximum period of 18 months, i.e. until 30 May 2023, during which Royal Schiphol Group will dispose first of the shares it holds in Aéroports de Paris. In this context, the functions as members of the Board of Directors of Aéroports de Paris of Dick Benschop and Robert Carsouw, respectively Chief Executive Officer and Chief Financial Officer of Royal Schiphol Group, and those as member of the Supervisory Board of Royal Schiphol Group of Edward Arkwright, Deputy Chief Executive Officer, ended on 30 November 2021. Following the loss of significant influence, the RSG shares held by Groupe ADP have been reclassified as other non-current financial assets.

The Group stops recognizing the share of losses of associates and joint ventures when the investments accounted by the equity method are at zero. The share of cumulative unrecognized losses amounted to €173 million, including €49 million for 2021. When loans are granted to investments whose share of profit or loss is no longer recognized, they are subject to impairment. In 2021, the amount of impairment of loans amounted to €46 million (see Note 9.3). The industrial cooperation called HubLink between Aéroports de Paris and Royal Schiphol Group has ended on 30 November 2021. The termination of the cooperation initiates an orderly sale of the cross-shareholdings2 between Aéroports de Paris and Royal

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