ADP // 2021 Universal Registration Document

F I NANC I AL I NFORMAT I ON

GROUPE ADP CONSOLIDATED FINANCIAL STATEMENTS AS OF 31 DECEMBER 2021

11.2 Analysis of the income tax expense Within the income statement, the income tax expense is detailed as follows:

2021

2020

(in millions of euros)

Current tax expense

146

(15) 270 255

Deferred tax income/(expense)

(155)

INCOME TAX EXPENSE

(9)

back receivable may be deducted from corporate tax due by the French consolidated tax group for the following years and failing that, reimbursed from 2025. As such, the deferred tax assets recognized in respect of tax loss carryforwards generated in 2020 on the basis of a corporate tax rate of 25.83% for an amount of €161 million were reversed in 2021. The difference between the amount of the tax credit generated by the application of this exceptional carryback mechanism and the amount of the reversal of deferred tax assets has been reported under “changes in tax rates” in Tax Proof.

These amounts do not include income tax on profit/loss associates and joint ventures, the amounts that appear for these items on the appropriate line of the income statement being net of income tax. In 2021, the Group opted for the exceptional carryback reporting mechanism for the first deficit recorded for the year ended 31 December 2020, which was authorized by the 1 st Amending Finance Law (LFR) 2021. The amount of this receivable amounted to 156 million euros at 31 December 2021 based on the corporate tax rate applicable in 2022, i.e. 25%. As a reminder, this carry

11.3 Tax reconciliation The reconciliation between the theoretical income tax based on the tax rate applicable in France and the effective expense/income tax is as follows:

6

2021 (247)

2020

(in millions of euros)

Net results from continuing activities

(1,509)

Share of profit or loss from associates and joint ventures

61

220

Expense / (Income) tax expense

9

(255)

Income before tax and profit/loss of associates

(177)

(1,544) 28.92%

Theoretical tax rate applicable in France Theoretical tax (expense)/income

28.41%

50

447

Impact on theoretical tax of: Different rate on taxable income and payment at source Previously unrecognized tax loss carryforwards used in the period

12

(44)

3

5

Tax losses incurred in the period for which no deferred tax asset was recognized

(23)

(56)

Changes in unrecognized temporary differences

(2) (9)

3

Evolution of tax rates

(21)

Non-deductible expenses and non-taxable revenue

(38)

(76)

Tax credits

5

4

Provisions for income tax

-

1

Investment incentives applicable in Turkey

(6) (2)

(4) (2) (2)

Adjustments for prior periods

Others adjustments

1

Effective tax (expense)/income

(9)

255

Effective tax rate

4.71%

16.51%

For 2021, the theoretical tax rate used is 28.41%. In 2020, the theoretical tax rate used by the Group to determine the theoretical tax charge was 28.92%.

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