ANTIN // 2021 Universal Registration Document

OPERATING AND FINANCIAL REVIEW FOR THE YEAR 2021

2021 activity update

5.3.3 Investment performance in 2021 The Antin Funds demonstrated continued strong investment performance in 2021 with all funds performing either on plan or above plan. Flagship Fund II and Flagship Fund III are performing above plan with Gross Multiples of 2.5x and 1.6x respectively. Antin’s more recent fund vintages, Flagship Fund IV and Fund III-B, are trending on plan with Gross Multiples of 1.2x and 1.4x respectively. All Antin Funds have demonstrated increases in Gross Multiples during 2021. KEY STATS BY FUND

Fee-Paying AUM

Committed capital

Gross Multiple Expectation

(€bn) Fund

Vintage

AUM

% invested % realised

FLAGSHIP

2013 2016 2019 2020

2.2 6.8 9.5 1.7

0.9 2.9 6.5 1.1

1.9 3.6 6.5 1.2

86% 88% 60% 89%

76% 24%

2.5x Above plan 1.6x Above plan

Fund III Fund IV Fund III-B MID CAP Fund I

0% 0%

1.2x 1.4x

On plan On plan

2021

2.2

2.2

2.2

16%

0%

1.0x

On plan

Source: Company information.

The table below sets forth the vintage year, final committed capital and cost and value of investments (realised and remaining) for each of the Antin Funds. KEYS STATS BY FUND

5

Cost of investments

Value of investments

Fee-Paying AUM

Committed capital

(€bn) Fund

Vintage

Total

Realised Remaining

Total

Realised Remaining

FLAGSHIP Fund II Fund III Fund IV Fund III-B MID CAP Fund I

2013 2016 2019 2020

0.9 2.9 6.5 1.1

1.9 3.6 6.5 1.2

1.6 3.6 3.5 1.1

1.0 0.2

0.6 3.4 3.5 1.1

4.0 5.8 4.1 1.6

2.9 0.6

1.1 5.2 4.1 1.6

- -

- -

2021

2.2

2.2

0.3

-

0.3

0.3

-

0.3

Source: Company information.

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