ADP // 2021 Universal Registration Document

PRESENTAT I ON OF THE GROUP 1 GROUP ACTIVITIES

Concession models (situation at the end of 2021)

Concession fee (% of the revenue)

Airport

Type / Concession end date

GAL stake

Scope

Delhi

Concession 2036 (2066)

64% 63% 40% 99% 100%

Airport Airport Airport Airport Airport

45.99%

Hyderabad

BOT/Concession 2038 (2068)

4.0% None

Mactan-Cebu

Concession 2039

Goa

BOT/Concession 2056 (2076) BOT/Concession 2060 (2080)

36.99%

Bhogapuram

Linked to inflation until 2034 then 180 INR/Pax from 2034

Heraklion

BOT/Concession (2054) Sub-concession (2027)

22%

Airport

None

Kannur

Duty Free

-

At the end of 2021, the maturity of the GMR Airports concession portfolio was 46 years.

Main developments during 2021 As with all Groupe ADP airports, the airports in the GMR Airports network continued to be affected by the global health crisis and the various waves that hit India (including the one in April - May 2021). However, Indian airports have shown real resilience, driven by domestic traffic. At the end of 2021, domestic traffic reached its pre-crisis levels while the international segment (still hampered by health constraints, with the Air Bubble arrangements and the reopening of tourist visas only in November) reached around 50%. However, traffic slowed down again at the end of December, in the context of the spread of the Omicron variant. Traffic in Mactan-Cebu remained very sluggish, as in 2020, given the significant constraints that continue to weigh on passenger movements between regions of the Philippines as well as the absence of tourist traffic. In 2021, traffic on the three GMR Airports platforms reached 50.4 million passengers, i.e. 48.8% of the level of traffic observed in 2019. GMR Airports and its airport subsidiaries have constantly adapted their infrastructures, for example by closing and reopening terminals (in particular Terminal 1 in Delhi) according to the traffic situation and by deploying cost optimisation measures. Similarly, the health measures necessary to ensure the protection of passengers and employees were maintained and evolved according to the requests of the Indian authorities as well as the latest international standards and practices. This high level of measures was recognised by the Skytrax “Covid 19 Excellence Award” awarded to Delhi Airport, and all airports received the ACI Airport Health Accreditation. GMR Airports continued its development and investments in 2021, while adapting certain platform capacity investments where necessary. In Delhi, the investment programme (Phase 3A) was carried out, including major developments of the airside facilities and

the first stages of the future terminal 1. Similarly, Hyderabad airport continued the extension work on the current terminal (extension of the boarding piers and of the central processor) with partial delivery scheduled in 2022. In Goa, the new airport under construction in Mopa (north Goa) is expected to be inaugurated on 15 August 2022 and start its domestic operations in September 2022. Internationally, GMR Airports obtained the concession for Medan Airport in Indonesia as part of a consortium in which it will hold 49% alongside the Indonesian public operator APII. Medan is the country’s 5 th airport with 10 million passengers in 2018. The 25-year concession will take effect in 2022. It provides for an investment plan spread over several years to modernise the existing infrastructure (a runway and a 100,000 m 2 terminal) and gradually increase capacity in line with expected traffic growth. In India, GMR Airports is awaiting the final decision of the Supreme Court on obtaining the concession for the Nagpur airport, which has been contested by the local authorities. In 2021, the High Court of Mumbai ruled in favour of GMR Airports, confirming its role as operator. During the Investors Day of 17 February 2022, as part of the presentation of the Group’s 2022-2025 strategic roadmap, GMR Airports presented the main lines of its own roadmap established in line with Groupe ADP’s vision. It will focus, in particular, on capturing the strong growth potential in India (traffic, non aeronautical revenues in Delhi and Hyderabad, monetisation and promotion of concession land reserves) and improving the profitability of assets in order to contribute to the deleveraging of GAL. It will also see the deployment of the industrial partnership signed between ADP and GMR, for example, to support the renewal of the passenger experience in Indian terminals and the deployment of Smart Airports technologies. The reduction of the carbon footprint via the implementation of green initiatives has been identified as a priority. GMR Airports’ roadmap will also make it possible to seize growth opportunities in India (new waves of privatisation, disposal of minority interests by the Airport Authority of India) and more widely in South-West Asia.

84

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