Aéroports de Paris - 2019 Universal registration document

INFORMATION ON THE COMPANY 04 CAPITAL EXPENDITURES

Ongoing investments or investments with firm commitments The only investments covered by firm Aéroports de Paris commitments are those described in the 2016-2020 Economic Regulation Agreement, as part of the regulated scope.

Investments within the regulated scope do not include group investments relating to security, real estate diversification operations or retail services activities, or investments made by the group’s subsidiaries, particularly equity investments outside the parisian airports. The second tranche of the transaction to acquire a 49% stake in GMR Airports is discussed in Section 10.1 - Information concerning trends - Groupe ADP carries out the first stage of its acquisition of a 49% stake in GMR Airports, an Indian airport group.

4.2.2 Projected Aéroports de Paris’ investment programme between 2016 and 2020, excluding financial investments

Actual 2016 (in euros 2016)

Actual 2017 (in euros 2017)

Actual 2018 (in euros 2018)

Actual 2019 (in euros 2019)

Total 2016-2020

Projected 2020

(in millions of 2019 euros from 2019)

Regulated scope 1

538

545

628

706 180

792

3,209

Shops and other investments Diversification real estate

84

96 99 62

174

174

707 314 486

120

41

23

31

Safety and security

33

93

120

178

TOTAL AÉROPORTS DE PARIS (EXCLUDING FINANCIAL INVESTMENTS)

775

801

936 1,029

1,175

4,716

1 For more information see Section 5.3 “Description of the Paris Airports” of this Universal Registration Document.

The total cost of CDG Express is €2.2 billion, which will be covered in an amount of approximately €400 million in shareholders’ equity by shareholders of the project company, shared equally between Groupe ADP, SNCF Réseau and the CDC, and in the maximum amount of €1.8 billion by a loan from the French State. The State loan will be reimbursed using revenues from the infrastructure manager.

Aéroports de Paris’s projected investment programme between 2016 and 2020 totals €4.7 billion, excluding financial investments. This programme also excludes the potential investments linked to the acquisitions of holdings in France or abroad. This programme does not take into account the potential investments relating to CDG Express either, which will be undertaken by the infrastructure project management company, of which Aéroports de Paris owns one-third of the capital.

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AÉROPORTS DE PARIS ® UNIVERSAL REGISTRATION DOCUMENT 2019