ANTIN // 2021 Universal Registration Document

FINANCIAL STATEMENTS

Notes to the consolidated financial statements

Note 19 Provision

ACCOUNTING PRINCIPLES Reference: IAS 37

Provisions are recognised when Antin has a present obligation (legal or constructive) as a result of a past event, it is probable that Antin will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

As of 31 December 2021, there are no provisions in the Consolidated Balance Sheet.

Note 20 Borrowings and financial liabilities

Recognition and initial measurement All financial liabilities are initially recognised when AIP becomes a party to the contractual provisions of the instrument at settlement date. Financial liabilities are initially measured at fair value plus, for liabilities not subsequently measured at fair value through the statement of profit or loss, transaction costs that are directly attributable to their acquisition or issue.

Classification and subsequent measurement of financial liabilities Financial liabilities are measured at amortised cost. Antin does not currently have any financial liability measured at amortised cost

31-Dec-2021

31-Dec-2020

Total

< 1 year 1 - 5 years > 5 years

Total

< 1 year 1 - 5 years > 5 years

(in €k)

6

Non-current part Borrowings from credit institutions

-

-

-

-

26,303

-

26,303

-

Total borrowing and financial liabilities - non-current part

-

-

-

-

26,303

-

26,303

-

Current part Borrowings from credit institutions

-

-

-

-

67

67

-

-

Total borrowing and financial liabilities - current part TOTAL BORROWING AND FINANCIAL LIABILITIES

-

-

-

-

67

67

-

-

-

-

-

-

26,370

67 26,303

-

Antin signed a facilities agreement on 03 November 2020 with Natixis and OBC Neuflize. The facility A loan enabled the financing of the investment in Fund III-B up to €32 million. An additional €30 million (facility B) has been made available to invest in Mid Cap Fund I. The loan was subscribed exclusively in euro. The facility A loan was drawn for an amount of €26.7 million as of 31 December 2020. The facility accrued interest at a variable rate of Euribor 1, 3 or 6 months (depending on the interest period selected) plus a margin of 2.75%, refundable in five years. On 14 June 2021, Antin drew an additional €0.5 million facility A loan, taking the total drawn amount to €27.3 million. On 02 December 2021, after having raised substantial cash proceeds from its IPO on Euronext Paris, Antin redeemed the entire drawn facility A loan, maintaining an undrawn commitment of €30 million as of 31 December 2021 without penalty. The facility B loan remained undrawn as of 31 December 2020. If drawn, it would accrue interest at a variable rate of Euribor 1, 3 or 6 months (depending on the interest period selected) plus a margin of 3.25%.

On the undrawn commitment, Antin has to pay a commitment fee of 0.8250% for the facility A loan and 0.9750% for the facility B loan. The ability of Antin to draw credit under the above-mentioned facilities is subject to compliance with certain covenants, as further described below: 3 the leverage ratio defined under the Facilities Agreement as a ratio of net financial debt to EBTIDA shall not exceed 1x; 3 annual revenue shall be equal to or greater than €100 million. These covenants are assessed at 30 June and 31 December each year. As of 31 December 2021, Antin was in compliance with these covenants. The facilities agreement includes a mandatory prepayment provision in case of a change in control of the company and a security package composed of pledges overs receivables granted by Antin and pledges over the bank account of the borrowers. A total of €0.6 million in capitalised expenses related to the arrangement of the facility B loan have not been amortised. These expenses have been amortised because Antin does not expect to draw down its facility B loan.

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