ADP // 2021 Universal Registration Document

F I NANC I AL I NFORMAT I ON

GROUPE ADP CONSOLIDATED FINANCIAL STATEMENTS AS OF 31 DECEMBER 2021

6.3.1 Analysis of investment property Investment property is detailed as follows:

Fixed assets in progress, related advances & prepayments

Land, improvements of land and substructure

Total

Buildings

(in millions of euros)

Gross value

119

660

65

844

Accumulated amortisation & depreciation Carrying amount as at 1 January 2021

(62)

(280)

-

(342)

57

380

65

502

Purchases and change in advances and prepayments

-

12

15

27

Depreciation and Amortisation

(2)

(26)

-

(28)

-

118

(5)

113

Transfers to and from other headings 1 Carrying amount as at 31 December 2021

55 119

484 785

75 75

614 979

Gross value

Accumulated amortisation & depreciation

(64)

(301)

-

(365)

1 Mainly due to return to full ownership of assets from construction leases for €109 million.

6.3.2 Fair value of investment property External valuations led to the main immediate returns on investments properties presented below:

6

Rate of immediate return

As at 31 Dec. 2021

As at 31 Dec. 2020

(in millions of euros)

Buildings Offices Paris-Charles de Gaulle Cargo Paris-Charles de Gaulle Hangars Paris-Charles de Gaulle

294 467

317

3.1%-12.6% 4.9%-10.7% 8.0%-14.9% 5.2%-6.4% 9.1%-10.6% 3.4%-18.0% 7.3%-12.5% 6.1%-8.8% 5.1%-9.1% 8.1%-9.8% 3.7%-9.5% 6.0%-10.7% 5.4%-17.3% 5.8%-7.0%

258

114 118

95

Hotels/shops Paris-Orly and Charles de Gaulle

105

Hangars/freight Paris-Orly

78

72

Activity Paris-Orly and Charles de Gaulle

152 145

137 132

Paris-Le Bourget

TOTAL OF EXTERNAL RENTED BUILDINGS

1,368

1,116

Ground leases Offices Paris-Charles de Gaulle Cargo Paris-Charles de Gaulle Hangars Paris-Charles de Gaulle

83

84

540

556

62

61

Hotels/shops Paris-Orly and Charles de Gaulle

288 120 164 148

287 109 153 140

Hangars/freight Paris-Orly

Logistic/activity Paris-Orly and Charles de Gaulle

Paris-Le Bourget and AAG

TOTAL OF EXTERNAL GROUND LEASES

1,405

1,390

TOTAL OF LAND RESERVES

328

311

TOTAL OF INVESTMENT PROPERTY

3,101

2,817

The fair value of investment properties amounted to €3,101 million at 31 December 2021 compared with €2,817 million at 31 December 2020, an increase of more than 10%. Excluding repossessions of assets, the value of investment properties increased by 6.7%.

The year 2021 is still marked by the effects of the health crisis caused by the Covid-19 pandemic. The second lockdown and the restrictive measures on the movement of people have continued to weigh on traffic, affecting the various players present on the platforms with a greater or lesser dependence on the airline sector (see note 2.1).

327

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