ANTIN // 2021 Universal Registration Document

LETTER FROM THE MANAGING PARTNERS

2

1 PRESENTATION OF ANTIN

6 FINANCIAL STATEMENTS

15

131

1.1 Industry overview

16 20 21 22 25 29 30

6.1 Consolidated financial statements

132

1.2 Antin’s history

6.2 Notes to the consolidated financial statements 6.3 Statutory auditors' report

137

1.3 Overview of Antin’s activities

1.4 Operating platform

on the consolidated financial statements

164

TABLE OF CONTENTS 1.5 Antin model

6.4 Statutory financial statements 168 6.5 Notes to the statutory financial statements 171 6.6 Additional reporting 179 6.7 Statutory auditors' report on the statutory financial statements 180

1.6 Strategy and objectives 1.7 Regulatory environment

2

CORPORATE GOVERNANCE

35

7

2.1 Governance structure 2.2 Group management 2.3 Board of Directors

37 37 38

INFORMATION ABOUT THE COMPANY 7.1 General information

185

2.4 Organisation and activities of the Board of Directors and its committees 2.5 Compliance and prevention of insider misconduct 2.6 Compliance with the AFEP-MEDEF Code 2.7 Compensation of corporate officers

186 187 189 191 191 191 194

48

7.2 Organisational structure of Antin

7.3 Employees

55 56 57 68

7.4 Shareholding and stock options

7.5 Employee arrangements

7.6 Constitutive documents and bylaws

2.8 Related-party transactions

3

7.7 Material contracts

8

RISK FACTORS

71

INFORMATION ON THE SHARE CAPITAL AND MAJOR SHAREHOLDERS 8.1 Information on major shareholders and control 8.2 Information on the share capital 8.3 Share performance and dividend 8.4 Financial communication policy and calendar

3.1 Risks relating to Antin’s activities 3.2 Risks related to Antin’s operations

72 77 80 82

197

3.3 Financial risks

3.4 Insurance

198 201 206

3.5 Risk management and internal control systems 3.6 Legal and arbitration proceedings

82 86

4

207

9

SUSTAINABILITY 89 4.1 About this non-financial performance statement 90 4.2 Sustainability strategy 90 4.3 Material ESG topics 93 4.4 Responsible company approach 96 4.5 Responsible investor approach 102 4.6 Indicators table 106 4.7 Independent third-party report 110 OPERATING AND FINANCIAL REVIEW FOR THE YEAR 2021 113 5.1 General presentation 114 5.2 Factors affecting Antin’s results of operations 116 5.3 2021 activity update 118 5.4 Analysis of the consolidated financial statements 122 5.5 Contractual obligations, commercial commitments and off-balance sheet arrangements 128 5.6 Significant events since 31 December 2021 128 5.7 Medium-term objectives 129

ANNUAL SHAREHOLDERS’ MEETING 209 9.1 Agenda 210 9.2 Report of the Board of Directors to the Annual Shareholders’ Meeting 211 9.3 Statutory auditors’ reports 220

10

5

ADDITIONAL INFORMATION 10.1 Person responsible for the Universal Registration Document

223

224 224 224 225 225 225 226

10.2 Third-party information

10.3 Competent authority approval

10.4 Statutory auditors

10.5 Change in statutory auditors 10.6 Documents available to the public

10.7 Concordance tables

ANNEX 1 - GLOSSARY

235