Aéroports de Paris - 2019 Universal registration document

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PROFIT FORECASTS

11.1 2016-2020 PERIOD GUIDANCES

116 11.2 2020 GROUP FORECASTS

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11.1

2016-2020 PERIOD GUIDANCES

This drop is taking place at the end of the winter season. It is therefore difficult to project it over the summer season, which starts in April. The overall impact on 2020 will depend both on the duration of the viral episode and its consequences on the economy in general and on air transport in particular. It will also depend on the speed with which the activity returns to normal afterwards. In this respect, the President of the French Republic indicated in a speech on 16 March 2020 that, as of 17 March 2020, the entry borders to the European Union and the Schengen zone will be closed and that, therefore, all travel between non- European countries and the European Union will be suspended for a period of thirty days (i.e. until 16 April 2020). However, certain movements of French citizens located abroad to return to France would be permitted. The share of international traffic (i.e. outside metropolitan France, the European Union, the European Economic Area and the French Overseas Departments and Territories) in Paris Aéroports' total traffic, represented approximately 40% of traffic in 2019. In addition, the decision studied by European authorities to impose a moratorium on take-off and landing slots should lead to airlines no longer operating certain flights without losing their slots, thereby accelerating the drop in traffic.

At the end of February 2020, the impact of the coronavirus epidemic (CoVid 19) on traffic was moderate, but was increasing in Paris and on some of the Group's platforms abroad 1 . Between 1 March and 14 March 2 , the estimated drop in passenger traffic and in the number of aircraft movements accelerated in the Paris airports, with a change estimated at -29% and -10%, respectively. Since 14 March 2020, decisions by European or foreign authorities, in particular concerning the possible closure of certain traffic segments, have had a strong impact on airports. In addition, the decision by European authorities to impose a moratorium on take-off and landing slots should lead to airlines no longer operating certain flights without losing their slots, thereby accelerating the drop in traffic. This has led to a 43.7% reduction in traffic in Paris since 14 March 3 . A traffic volume corresponding to 10% to 15% of the 2019 volume is expected in the coming weeks.

1 For more information, see Chapter 10 - Information on trends - Section 10.1. 2 Sources: TARMAC from 1 to 10 March 2020, SARIA from 11 to 14 March 2020. 3 Sources: TARMAC from 1 to 17 March 2020, SARIA from 18 to 22 March 2020.

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AÉROPORTS DE PARIS ® UNIVERSAL REGISTRATION DOCUMENT 2019

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