ANTIN // 2021 Universal Registration Document

SUSTAINABILITY

Responsible investor approach

4.5.2 Actively enforcing the incorporation of ESG principles throughout the investment cycle

Description Risks and opportunities

Policy and strategy As detailed in the graphic below, Antin has developed a comprehensive process integrating ESG factors at all stages of the investment cycle. This process is also described in Antin's Responsible Investment Policy, which is publicly available on its website and updated annually. Sample ESG issues that Antin assesses in its portfolio include, but are not limited to, climate change impact and adaptation; energy management; water management; air, water, and soil pollution; biodiversity; noise pollution; waste management; occupational health and safety; labour relations; employee wellbeing, training and development; diversity and inclusion; community engagement; corporate governance; business ethics; personal data protection; and responsible sourcing. Further, Antin’s Sustainability Team has developed internal ESG management tools and frameworks for the investment team to employ throughout the investment cycle.

Antin’s portfolio companies operate in infrastructure sectors exposed to multiple and varied ESG issues. Identifying and addressing these issues and ensuring the effective implementation of responsible investment and sustainability practices throughout the investment cycle, is particularly crucial to Antin’s business. Antin strongly believes that engaging in ESG matters enables it to diminish business risks, boost productivity, reduce costs, and grow revenue in the portfolio, while, in turn, meeting fiduciary responsibilities. Responsible investment is also key from a regulatory standpoint, as Antin is subject to a variety of sustainable finance regulations across different jurisdictions (including the EU SFDR, the EU Taxonomy, and Articles 29 and 173 of France’s Climate Energy Act) that will only expand in coming years.

4

In addition to formal processes and procedures, Antin created an ESG Club in January 2019 to foster the sharing of ESG best practices and expertise in its portfolio.

ACQUISITION PROCESS

Pre-NBO

Pre-BO

Deal feasibility assessment 3 Confirm the target meets

Initial ESG screening

ESG DD review scoping

ESG advisor selection

ESG DD review

Final IC presentation

ACTIONS

3 Identify

3 Confirm the key ESG risks the target is exposed to 3 Define the DD

3 Select relevant advisors to perform the target's ESG DD review

3 Review the

3 Present ESG DD review findings and conclusions

potential ESG red flags and risk areas associated with the target

target’s existing practices to mitigate key ESG risks

the fund’s ESG terms and conditions

to IC members during the final IC meeting

review scope for each key ESG risk the target is exposed to

3 Review the target's

performance in addressing key ESG risks

3 Assess the

likelihood of key ESG risks occurring

ENABLERS 3 Fund's exclusion list 3 Fund's side letter agreements

3 Internal

3 Internal ESG DD review scoping guidance

3 Internal ESG advisor directory

3 VDR review 3 Expert sessions 3 Site visits

3 ESG DD review findings and conclusions slide template

initial ESG risk assessment tool

ACTION OWNERS

3 Deal team

3 Deal team

3 Deal team

3 Deal team

3 Deal team 3 Advisors

3 Deal team

INTERNAL SUPPORT

3 Legal team

3 Sustainability team

3 Sustainability team

3 Sustainability team

3 Sustainability team

3 Sustainability team

NBO: Non-binding offer BO: Binding offer DD: Due diligence IC: Investment Committee

103 ANTIN INFRASTRUCTURE PARTNERS S.A. - UNIVERSAL REGISTRATION DOCUMENT 2021