ADP // 2021 Universal Registration Document

F I NANC I AL I NFORMAT I ON 6 GROUPE ADP CONSOLIDATED FINANCIAL STATEMENTS AS OF 31 DECEMBER 2021

6.1.1 Airport operation rights

accumulated impairment losses. The estimated useful life of an intangible asset in a service concession arrangement is the period fromwhen the Group is able to charge the public for the use of the infrastructure to the end of the concession period. Amortisation of airport operation right is calculated based on units of production method over passenger figures for all airports; The grantor - financial asset model: The Group holds an unconditional contractual right to receive payments from the grantor, independently of the user attendance of the airport. In this model, the activity of the concessionaire lead to the recognition of a financial asset giving right to interests. In balance sheet, these financial assets are classified under “Other financial assets” and are initially recognised at fair value. Subsequently, the financial assets are accounted for at amortised costs and recovered according to the lease payments received from the grantor. The income computed based on the effective interest rate is accounted for as operating revenue. This model is only for the Ankara Esenboga Airport concession (see note 4.2).

Under the terms of IFRIC 12 Service Concession Arrangements, a concession operator has a twofold activity, for which revenue is recognized in accordance with IFRS 15: ◆ a construction activity in respect of its obligations to design, build and finance a new asset that it delivers to the grantor: revenue is recognized in progression; ◆ an operating and maintenance activity in respect of concession assets. In return for its activities, the operator receives remuneration either from: The users - intangible asset model: The Group recognizes an intangible asset arising from a service concession agreement when it receives a right (a license) to charge the public service users. In this model, the right to receive a remuneration is recognised as an intangible asset and is accounted at fair value at initial recognition. This right corresponds to the fair value of the concession sold. Subsequent to initial recognition the intangible asset is measured at cost less accumulated amortisation and

End of contract dates of airport operating rights are as follows:

Skopje and Ohrid International Airport

Monastir and Enfidha International Airport

Tbilisi and Batumi International Airport

Queen Alia International Airport

Izmir Adnan Menderes International Airport

Milas-Bodrum Airport

Country

Turkey

Turkey

Georgia

Tunisia

Macedonia

Jordan

February 2027 and August 2027

End of contract date

December 2034 1 December 2037 1

May 2047 August 2030 2 November 2032

1 2-year extension obtained in February 2021. 2 104 and 107 days extension obtained late 2020.

Airports operating rights amount to €3,233 million as at 31 December 2021(€2,550 million net carrying amount). They are composed mainly by concession agreements of Queen Alia International Airport, Izmir Adnan Menderes International Airport, Tbilissi and Batumi International Airport, Monastir and Enfidha International Airport, Skopje and Ohrid International Airport and Milas Bodrum Airport. Main concession characteristics are as follows: ◆ fees are defined in the concession agreements and price increases are subject to agreement by the grantor; ◆ users and airlines are at the beginning of fees collection of the contract; ◆ no grants or guarantees are given by the grantor; ◆ infrastructures are returned to the grantor with no consideration at the end of the contract. As indicated in the highlights (see note 2.1) certain concessions have been the subject of extensions following the Covid-19 crisis.

This is the case with the Ankara Esenboga, Gazipasa-Alanya, Izmir Adnan Menderes and Milas-Bodrum concessions, which have been extended by 2 years. For these concessions, the right to operate has been increased by the royalties due over the extension years in for a debt for an amount of 57 million euros. It should be noted that the amortization of airport operating rights is calculated on traffic forecasts impacted by the health crisis. Impairment tests were performed on operating rights and no impairment loss was recognized as of 31 December 2021 (see note 6.4). As regard to the concession agreement signed between TAV Esenboga and the DHMI (Devlet Hava Meydanları Isletmesi) which terminates in May 2025 (2-year extension obtained in February 2021). The Group applies the financial asset model. The financial asset was initially recognized at fair value. As at 31 December 2021, the current part of this financial asset amounts to €25 million and the non-current part amounts to €17 million (see note 9.5.3 Liquidity risks).

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