ADP_REGISTRATION_DOCUMENT_2017

FINANCIAL INFORMATION ON ASSETS, FINANCIAL POSITION AND RESULTS

RESEARCH AND DEVELOPMENT, PATENTS AND LICENCES

INFORMATION CONCERNING TRENDS

PROFIT FORECASTS

ADMINISTRATION AND EXECUTIVE MANAGEMENT BODIES

COMPENSATION AND BENEFITS OF CORPORATE OFFICERS

FUNCTIONING OF THE BOARD OF DIRECTORS AND MANAGEMENT BODIES

SOCIAL, ENVIRONMENTAL AND SOCIETAL RESPONSIBILITY INFORMATION

MAIN SHAREHOLDERS

OPERATIONS WITH RELATED PARTIES

9.4.1 Details of loans and financial debt Loans and financial debt at the closing date may be analysed in this way:

Non- current portion

Non- current portion

As at 31 Dec. 2017

Current portion

Current portion

As at 31 Dec. 2016

(in millions of euros)

Bonds

4,179 1,623

4,179 1,057

-

3,868

3,679

189

Bank loans 1

566

517

517

-

Other loans and assimilated debt

42

35

7

28

25

3

Debt (excluding accrued interests and derivatives)

5,844

5,271

573

4,413

4,221

192

Accrued interest

67 54

-

67

71

-

71

Derivative financial instruments (liabilities)

49

5

20

18

2

TOTAL DEBT 265 1 The current portion of bank loan liabilities notably includes bank loans contracted by TAV Tunisia. Since TAV Tunisia has been in breach of its financing agreements due to its current difficulties following the 2015 events in Tunisia, bank loan liabilities are classified under the current section for an amount of €342 million as at 31 December 2017. 5,965 5,320 645 4,504 4,239

9.4.2 Net financial debt

Net financial debt as defined by Groupe ADP corresponds to the amounts appearing on the liabilities of the balance sheet under the items non- current loans and debts, and current loans and debts, debt related to the minority put option, reduced by derivative financial instruments in an asset position, receivables and current accounts from associates, cash and cash equivalents and restricted bank balances.

This net financial debt appears as follows at the closing date:

Non- current portion

Non- current portion

As at 31 Dec. 2017

Current portion

Current portion

As at 31 Dec. 2016

(in millions of euros)

Debt

5,965

5,320

645

4,504

4,239

265

Derivative financial instruments (assets)

27 90

23

4

91

31 10

60 48

Receivables and current accounts from associates

51

39

58

Cash and cash equivalents Restricted bank balances 1

1,912

- -

1,912

1,657

- -

1,657

189

189

-

- -

Debt related to the minority put option

(50)

(18)

(32)

(11)

(11)

Net financial debt

3,797

5,264 (1,467)

2,709

4,209 (1,500)

Gearing 63% 1 Restricted bank balances relate to TAV Airports. Certain subsidiaries, namely TAV İstanbul, TAV Esenboğa, TAV Tunisia, TAV Macedonia, TAV Milas Bodrum, TAV Ege and TAV Holding (“the Borrowers”) opened Project Accounts designated mainly in order to reserve required amount to reimburse project debt or elements defined in the agreements with their lenders (lease payments to DHMI, operational charges, tax…). 70%

20

203

AÉROPORTS DE PARIS  REGISTRATION DOCUMENT 2017