ADP // 2021 Universal Registration Document

F I NANC I AL I NFORMAT I ON

GROUPE ADP CONSOLIDATED FINANCIAL STATEMENTS AS OF 31 DECEMBER 2021

8.2 Other non-current liabilities

Items presented as other non-current liabilities include: ◆ investment subsidies. In compliance with the option offered by IAS 20, these subsidies are recorded as liabilities and are transferred to the income statement as the associated assets are amortized; ◆ concession rent payable for concessions operated by TAV Airports;

◆ revenues from contracts accounted as deferred income; ◆ debt related to the minority put option. In compliance with IAS 32, this debt is initially measured at the present value of the option exercise price. The counterpart of this debt is a decrease in the carrying value of the minority interets. The difference between the present value of the option exercise price and the carrying value is recorded in shareholder’s equity – Group share under other reserves.

At the end of the period, other non-current liabilities were as follows:

As at 31 Dec. 2021

As at 31 Dec. 2020

(in millions of euros)

Concession rent payable > 1 year

713

647

Investment grants

55

51

Debt related to the minority put option and outstanding payments on shares

120

27 70

Deferred income

64

Other

1

2

TOTAL

953

797

6

Immobilier 1 which option exercise date will be at the end of 2023, Almaty Airport Investment (Kazakhstan) and Embassair (USA). Deferred income over a year mainly concerning Paris SA Airport and consists in: ◆ the rent to Air France of terminal T2G, i.e. €16 million as of 31 December 2021 (€16 million as of 31 December 2020); ◆ leasing construction of SCI Aéroville, i.e. €27 million as of 31 December 2021 (€27 million as of 31 December 2020).

Concession rent payable mainly relates to TAV Airports for TAV Milas Bodrum and TAV Ege which concession rent are fixed as defined in the concession agreements and have been recognized as counterparty for the airport operating right (see note 6.1.1). As at 31 December 2021, non-current concession rent payable amounts to €319 million for Milas Bodrum and €297 million for Ege (vs. €278 million and €257 million respectively as at 31 December 2020). The debt related to the minority put option and outstanding payments on shares concern mainly Ville Aéroportuaire

NOTE 9 FINANCING

9.1 Management of financial risk 9.1.1 Introduction

The Group also holds derivative instruments, mainly interest rate swaps. The objective of these instruments is the management of interest rate risks linked to the financing of the Group. The main risks linked to the Group’s financial instruments are: ◆ credit risk;

In addition to derivative instruments, the Group’s main financial liabilities consist of bank loans and overdrafts, bonds, rental financing debts, supplier debts and rental contracts. The main objective of these financial liabilities is to finance the Group’s operating activities. The Group has other financial assets such as customer debts, cash and short-term deposits that are generated directly by its activities.

◆ liquidity risk; ◆ market risk.

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