ANTIN // 2021 Universal Registration Document

RISK FACTORS 3 Insurance

3.4 INSURANCE Antin has insurance policies covering the general and specific risks to which it is exposed. The implementation of insurance policies is based on the determination of the level of coverage necessary to deal with the reasonably estimated occurrence of liability, damage or other risks. Antin’s main policies, underwritten by internationally renowned insurance companies, include the following: 3 Combined Directors’ and Officers’ Professional Liability Insurance Policy . This insurance policy covers, on a worldwide basis and up to a ceiling of €60 million per insurance period, the pecuniary consequences of the claim involving the individual or joint and several civil liability of Antin and/or its employees, its managers, physical persons or legal entities, in the event of a fault committed in the performance of their duties, as well as the related civil and criminal defence costs (excluding, in particular, intentional faults, personal benefits or remuneration wrongfully received, compensation for material or physical damage). Antin’s US subsidiary is covered by a local policy; 3 Multi-risk Insurance Policy . This insurance policy covers, in particular, up to a limit of €19.9 million per claim, the buildings located in Paris, London and Luxembourg, in particular against the risks of material damage, disappearance, natural Risk management is at the heart of the investment strategy pursued by Antin and is closely aligned with and reinforced by Antin’s internal control procedures andmonitoring programmes. Antin’s risk management and internal control systems are based on a set of tools, procedures and actions designed to ensure 3.5.1 Principles The compliance and internal control monitoring programme is designed to ensure that all key compliance and control risks faced by the business are monitored and tested regularly. The programme is kept under regular review to ensure it remains appropriate taking into consideration Antin’s business activities and risks. Antin has implemented governance arrangements and processes to assess and manage risks. These arrangements, together with an annual risk assessment, help identify the main risks relating to the activities of Antin, procedures and systems and, where appropriate, set the level of risk tolerated by Antin. Antin has defined several pillars of controls the objective of which is to ensure compliance with internal policies and procedures as well as the external regulations to which it is subject and the identification and proper management of risks relating to the various activities it carries out.

disasters, destruction or fire, as well as rental risks, claims from neighbours or third parties resulting from these risks. The building located in New York is covered by a local insurance policy; 3 Assistance Insurance Policy . This insurance policy covers, in particular, up to a limit of €20 million per claim, for all employees, trainees and managers of Antin, following accidents that they may suffer during professional missions carried out on behalf of Antin; 3 Cyber security Insurance Policy . This insurance policy covers on a worldwide basis, in particular, breach of personal and confidential data, IT system security breach, reputational damage, cyber extortion, business interruption and additional operating expenses. The terms of these policies (risks covered, amounts of cover and deductibles) are reviewed once a year by an insurance broker. Once reviewed, the policies are adjusted accordingly. To the best of the Company’s knowledge, there are no significant uncovered risks and no significant claims have been reported in the last three years by the Company or by any of Antin’s entities under its insurance policies.

3.5 RISK MANAGEMENT AND INTERNAL CONTROL SYSTEMS

that the necessary measures are taken to identify, analyse and control risks that could have a significant impact on Antin’s assets or the achievement of its objectives and activities, the effectiveness of operations and the efficient use of resources.

The first pillar lies with the Fund Managers which define risk management pol icies and procedures and ensure the effectiveness of the system through the monitoring of a certain number of key indicators and verifying compliance with the laws, regulations and Codes of Conduct in force. The second pillar is at the level of the Antin Funds where the risks associated with investments in the target markets of Antin Fund are managed in an effort to ensure that only investments which meet Antin Funds’ strict investment criteria are completed and that there is significant comfort on the mitigating factors available for all identified risks. The third pillar of control is at the level of the portfolio companies.

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