ADP_REGISTRATION_DOCUMENT_2017

ORGANISATION CHART

BUSINESS OVERVIEW

PERSONS RESPONSIBLE FOR THE REGISTRATION DOCUMENT AND ANNUAL FINANCIAL REPORT

STATUTORY AUDITORS

SELECTED FINANCIAL INFORMATION

RISK FACTORS

INFORMATION ON THE COMPANY

REAL ESTATE ASSETS AND FACILITIES

REVIEW OF THE FINANCIAL POSITION AND INCOME

EQUITY AND CASH FLOWS

Recent developments Inauguration of the extension of the international terminal of Atatürk airport TAV Airports commissioned the extension of the international terminal of the Istanbul Atatürk airport in May 2016. The new building provides an additional 27,000 sq.m. and four additional boarding airbridges enabling the simultaneous operation of four Code E or eight Code C aircraft. Planned acquisition of 16.7% of the capital of Tibah (Medina airport) from Saudi Oger TAV Airports initiated negotiations with Saudi Oger Ltd. for the acquisition of half of its 33.3% holding in the capital of Tibah Airports Development Company (Tibah Development) of which TAV Airports holds 33.3%. In the event that the acquisition is successful, TAV Airports’ share would rise to 50%. The International Airport of Medina, which welcomed 7.8 million passengers in 2017, has been operated by Tibah Development since 2012 and for a period of 25 years. Havana airport development and operation plan Groupe ADP, through Aéroports de Paris Management in association with TAV Airports and in a consortium with Bouygues Bâtiment International, a subsidiary of Bouygues Construction, after being informed on 4 August 2016 by an ACN 1 press release that the Cuban authorities had selected it to enter into exclusive discussions about the development project for the José Marti International airport of Havana, signed an agreement with the Cuban authorities defining the steps and works to be carried prior to the signing of a concession agreement. The Havana International Airport development project provides notably in the short term for the renovation, the extension and the operation of the existing international terminals. These developments are intended to provide Havana with capacity in excess of 10 million passengers a year by 2020 although current traffic is only close to 5 million and that the announcements regarding the opening of air traffic, notably with the United States, point to quick growth in the airport’s needs. Concession for three airports in Saudi Arabia In June 2017, the TAV Airports Group won the concession for three airports in Saudi Arabia: Yanbu, Qassim and Hail. The Food & Beverages concession at the Muscat airport and lounges in the airports of Muscat, Washington and Nairobi BTA has also been selected for the catering concession at the new Muscat International airport in Oman. The concession will start in 2018 for a period of 10 years and include the operation of 20 points-of-sale (3,412 sq.m.). TAV Operations Services, a wholly-owned subsidiary, won the call for tenders for the 10-year concession for a passenger lounge of nearly 3,300 sq.m. at the new International Airport of Muscat in Oman. The lounge is in addition to the others already opened at the International Airports of Washington Dulles and Jomo Kenyatta in Nairobi. In 2018, TAV Operations services is opening lounges at Santiago de Chile, Copenhagen, Zurich and New-York. Situation of TAV Tunisia Concession contracts for the operation of Monastir airport and the construction and operation of Enfidha were signed by TAV Tunisia on 18 May 2007 for 40 years. This is one of the largest public private partnerships in Tunisia, with total investment of some €550 million. This project was financed by TAV through equity contributions and borrowing from multilateral donors and commercial banks. The IFC and the South- African investment fund PAIDF are also 33% shareholders in TAV Tunisia. Multiple exogenous events since 2009 have significantly reduced the level of tourist activity in areas served by Monastir and Enfidha airports

(international financial crisis, regional geopolitical situation and recent terrorist attacks). Following the 2015 attacks, traffic was just 1.4 million passengers in 2015 and 1.6 million in 2016, compared to 3.3 million passengers in 2014. In 2017, the traffic amounted to 1.7 million passengers (+5.6%) and recommendations to travellers were reviewed favourably by the UK after summer 2017. The concessions have been in structural economic imbalance, leading TAV Tunisia to negotiate with the Tunisian authorities. /// Situation in Turkey In 2017, the security situation was very good and the total traffic in the country reached 193 million passengers, an increase of 11%. It should not be forgotten that security climate in Turkey deteriorated in 2016, after the country was hit by several terrorist attacks (in particular, the Istanbul Atatürk airport) and an attempted coup d’état. Increase in stake in BTA In November 2017, TAV Airports acquired an additional 33% of BTA bringing its stake from 67% to 100%. Planned acquisition of 49% of the share capital of the concessionnaire of Antalya Airport The TAV Airports Group has announced that it has signed an agreement for the acquisition of a 49% stake in ICF, which has the concession to operate Antalya’s international airport. TAV Airports and Fraport would co-control ICF Company with equal Rights. The airport, which welcomed more than 26 million passengers in 2017, is the main point of entry to the region of Antalya, one of Turkey’s most popular and most dynamic tourist regions, with 500 kilometres of coastal lines and a 600,000 bed hotel capacity. TAV Construction Aéroports de Paris, parent company of Groupe ADP, finalised the process for the sale of its entire 49% stake in TAV Investment, parent company of TAV Construction, to Sens Proje Gelistirme ve Yatirim A.S. and Tepe İnşaat Sanayi A.Ş. for an amount of €9 million. Note that TAV Construction shares had been recognised under assets held for sale in Groupe ADP’s financial statements, since 31 December 2016. Groupe ADP is thus deploying its international strategy, by increasing its commitment in the airport group, TAV Airports, as leading shareholder, which took place on 7 July last year and, on the other hand, by refocusing its activities on its core business with the disposal of its stake in TAV Construction. Partnership with Royal Schiphol Group To anticipate future challenges in the air transport sector, Aéroports de Paris and NV Luchthaven Schiphol (Royal Schiphol Group), which is the operator for Amsterdam Schiphol airport, created a long-term industrial cooperation and cross-equity investment agreement for 8% of the share capital at end 2008, which created a leading alliance in the global airport industry. This industrial cooperation agreement between two of Europe’s leading airport groups for an initial duration of 12 years represents a strategic 2 move that is 2 generating significant mutual benefits for both companies in several core areas of business. The alliance has been named “Hublink”. In 2017, Schipol Group achieved an increase in revenue of 2.4%, at €1,458 million. The net income attributable to the group was €280 million, down 8.7%.

06

1 Agencias Cubanas de Noticias. 2 See also the paragraph in Chapter 18 entitled “Alliance with Schiphol Group”.

79

AÉROPORTS DE PARIS  REGISTRATION DOCUMENT 2017