AIRBUS - 2019 Financial Statements

Other Supplementary Information Including the Independent Auditor’s Report/

Scope of the Group Audit Airbus SE is at the head of a group of entities. The financial information of this group is included in the Consolidated Financial Statements of Airbus SE. The entities are grouped into three business segments: Airbus, Airbus Helicopters and Airbus Defence and Space. The audit of the three segments is performed jointly by EY and KPMG. The audit of the entities in scope is performed by either EY or KPMG network firms. Because we are ultimately responsible for the opinion, we are also responsible for directing, supervising and performing the group audit. In this respect we have determined the nature and extent of the audit procedures to be carried out for group entities. Decisive were the size and/or the risk profile of the group entities or operations. On this basis, we selected group entities for which an audit or review had to be carried out on the complete set of financial information or specific items. Our group audit focused mainly on significant group entities where they are of significant size, have significant risks to the Company associated with them or are considered for other reasons. In total our audit procedures represent 92% of total consolidated revenue and 88% of total consolidated assets. The remaining 8% of revenues, and 12% of total assets result from entities, none of which individually represents more than 1% of revenues. For those entities, we performed, amongst others, analytical procedures to corroborate our assessment that the financial statements are free from material misstatements. We executed an audit plan that includes participation in risk assessment and planning discussions, setting the direction of the group audit work (including instructions to the divisional and entity auditors), reviewing and discussing the planned audit approach, obtaining an understanding of the financial reporting process and performing procedures on the group consolidation, participating in the evaluation of key accounting topics, reviewing the financial statements and participating in meetings with the management of the Company and its business segments. In our audit instructions, we also included targeted audit procedures that address the A220, A350, A380, A400M programmes as well as the risk of non-compliance with laws and regulations. We furthermore executed file reviews at EY network teams and KPMG. We involved several EY specialists to assist the audit team, including specialists from our tax, actuarial, treasury and compliance departments. By performing the procedures mentioned above at group entities, together with additional procedures at group level, we have been able to obtain sufficient and appropriate audit evidence about the Company’s financial information to provide an opinion about the Consolidated Financial Statements. General Audit Procedures Our audit further included among others: – performing audit procedures responsive to the risks identified, and obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion; – evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management; – evaluating the overall presentation, structure and content of the financial statements, including the disclosures; – evaluating whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. Our Key Audit Matters Key audit matters are those matters that, in our professional judgement, were of most significance in our audit of the financial statements. We have communicated the key audit matters to the Audit Committee. The key audit matters are not a comprehensive reflection of all matters discussed. This year the settlement agreements reached with the French Parquet National Financier (PNF), the UK Serious Fraud Office (SFO) and the US Department of Justice (DoJ) and U.S. Department of State (DoS) were considered as a separate key audit matter considering the significance of the settlements and the importance of appropriate disclosure of rights and obligations in the financial statements regarding these settlements. The key audit matter “The acquisition of CSALP” which was included in our last year’s auditor’s report, is not considered a key audit matter for this year as it related to a one off transaction. These matters were addressed in the context of our audit of the financial statements as a whole and in forming our opinion thereon, and we do not provide a separate opinion on these matters.

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Airbus / Financial Statements 2019