ANTIN // 2021 Universal Registration Document

FINANCIAL STATEMENTS 6 Notes to the consolidated financial statements Antin recorded carried interest income of €1.5 million in the year ended 31 December 2021. €0.9 million in carried interest revenue for Fund II relates to a share of carried interest repurchased by Antin from an employee that departed the firm. €0.6 million in carried interest revenue relates to a gain on a share of carried interest in Fund III-B that was sold by Antin to its employees prior to the IPO. Additional information with respect to contract assets related to carried interest are presented in Note 17.2 “ Accrued Income ”.

In addition to its commitment to the Antin Funds through the Carry Vehicles, Antin has made direct investments in the Antin Funds and recognises investment income related to the change in fair value of those investments. In the year ended 31 December 2021, Antin recorded €5.8 million of investment income primarily related to the revaluation of assets of Fund III-B. Further information with respect to the change in fair value of financial investments is presented in Note 13 “ Financial Assets ”.

5.3. Administrative fees and other revenue

2021

2020

(in €k)

Administrative fees

2,587

1,370

Other revenue

-

286

ADMINISTRATIVE FEES AND OTHER REVENUE

2,587

1,656

Antin Funds, to which such services have been delegated. The expenses related to AISL are presented in Note 7 “ Other operating expenses ”.

Antin generated administrative fees of €2.6 million for the year ended 31 December 2021. These represent recharges to the Antin Funds for fund administration and fund services, equal to the expenses charged by AISL 2, an entity fully held by the

Note 6 Personnel expenses

ACCOUNTING PRINCIPLES Reference: IAS 19 Employee benefits are divided into four categories in accordance with IAS 19 “Employee benefits”: 3 short-termemployee benefits such as salaries, social security contributions, annual leave, incentives, profit sharing and bonuses that are expected to be settled within 12 months following the reporting period during which the employees rendered the services; 3 long-term employee benefits which are long-service awards, bonuses and compensation expected to be settled 12 months or more after the close of the reporting period; 3 termination benefits; 3 post-employment benefits, fal l ing into one of two categories: defined-benefit plans and defined-contribution plans.

Personnel expenses Personnel expenses include all expenses related to personnel, including salaries, bonuses, remunerations, social security expenses, pension plan expenses, other employee benefits and expenses related to payments based on Antin’s shares. Short-term employee benefits Short-term employee benefits are recorded under personnel expenses during the period according to the services provided by the employee. Long-term benefits Long-term benefits are benefits which are paid to employees other than post-employment benefits, severance payments and equity-based compensation, but which are not due in full during the 12 months following the end of the financial year in which the corresponding services were rendered. Benefits expected to be settled within 12 months of the reporting date are recognised as current liabilities. Benefits not expected to be settled within 12 months of the reporting date are recognised at present value as non-current liabilities in the consolidated statement of financial position.

6.1 Number of employees

31-Dec-2021

31-Dec-2020

France

55 54 33

36 40 19 95 15

United Kingdom

US

Total employees (excluding Luxembourg)

142

21

Luxembourg

TOTAL EMPLOYEES

163

110

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