ANTIN // 2021 Universal Registration Document

FINANCIAL STATEMENTS

Notes to the consolidated financial statements

IFRIC, the Committee in charge of interpreting IFRS, addressed in 2021 a question concerning the methodology for calculating liabilities, related to the period of service over which the cost of the benefits should be recognised. The proposed approach, which consisted of linearising the cost of the benefit over the period preceding retirement age that allows the employee to obtain the maximum benefit, was approved by the International Accounting Standards Board (IASB) in May 2021. In this context, the method used to determine the Current Service Cost and Projected/Defined Benefit Obligation was the Projected Unit Credit actuarial cost method described below: 3 the projected benefits were allocated uniformly over the career of each employee from the date of hire to the assumed date of vesting rights; 3 the date of vesting rights was revised this year and the new approach is to linearise the cost of the benefit over the period preceding retirement age that allows the employee to obtain the maximum benefit (IFRIC interpretation confirmed by IAS 19 Board in May 2021); ACCOUNTING PRINCIPLES Antin records operating expenses under expenses, according to the type of service to which they refer and the rate of use. Professional service fees include fees related to legal, tax, accounting, audit, consulting arrangements, recruiters and other professional services provided to Antin. Other expenses and external services mainly relate to insurance, IT expenses, subscriptions, professional membership. Antin is also charged fees by AISL 2, an entity fully held by the Antin Funds to which such administrative services have been delegated, which are recorded as professional fees. Antin then recharges these costs to the Antin Funds and records the resulting revenue under administrative and other revenue. No margin is applied by Antin in recharging such fees, such that these fees do not result in any contribution to Antin’s net income. Rent andmaintenance include rental expenses, maintenance cost, and real estate and equipment leasing expenses that do not result in the recognition of a lease liability and right of-use asset. Note 7 Other operating expenses

3 the Current Service Cost is equal to the actuarial present value of the benefits allocated to the current year and the Projected/Defined Benefit Obligation is equal to the actuarial present value of the total benefits allocated to years prior to the current year. A change in accounting method has therefore been recorded in the opening statement of changes in equity for an amount of €0.4 million net of tax. Defined benefits plan in the UK and US In the United Kingdom, AIP UK contributed to or accrued for the voluntary defined contribution retirement benefit private scheme. The related contribution corresponds to 12% of base salary, within the limit of the UK Notional Earning Cap (£170,400 in 2020/2021). In the US, AIP US contributed to or accrued for the voluntary defined contribution retirement benefit private scheme set up in this country. The contribution corresponds to 5% of total earnings. Total pension plan expenses recorded in the Income Statement was €0.9 million in the year ended 31 December 2021 and €0.7 million in the year ended 31 December 2020. Travel and representation expenses relate to the cost of business travel including hotels and flights, and other representation expenses. Placement fees are fees paid to placement agents to support Antin in the fundraising process. Antin recognises as an asset the incremental costs of obtaining a contract with a customer when it expects to recover these costs (refer to Note 14 “ Other non-current assets ”). Costs to obtain a contract that would incur regardless of the outcome are recognised in other operating expenses on an accrual basis, taking into account the terms and conditions of the agreements signed with the placement agent. IPO-related expenses are non-recurring and include primarily fees for legal, financial, tax and accounting advice related to the preparation and execution of the IPO.

6

7.1 Other operating expenses

31-Dec-2021

31-Dec-2020

(in €k)

Professional services fees

10,287

4,393 3,389

Other expenses and external services Rent and maintenance expenses Travel and representation expenses

4,872

992 949 537

877 851 231

Placement fees

IPO-related expenses

20,074 37,710

-

TOTAL OTHER OPERATING EXPENSES

9,740

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