Airbus - Financial Statements 2022

2. Notes to the IFRS Consolidated Financial Statements Basis of Preparation

New, Revised or Amended IFRSs Issued but not yet Applied

A number of new or revised standards, amendments and improvements to standards as well as interpretations are not yet effective for the year ended 31 December 2022 and have not been applied in preparing these Consolidated Financial Statements and early adoption is not planned:

IASB effective date for annual reporting periods beginning on or after

Endorsement status

Standards and related amendments

IFRS 17 “Insurance Contracts”

1 January 2023

Endorsed

Amendments to IAS 1 “Presentation of Financial Statements and IFRS Practice Statement 2: Disclosure of Accounting policies”

1 January 2023

Endorsed

Amendments to IAS 8 “Definition of Accounting Estimates”

1 January 2023

Endorsed

Amendments to IAS 12 “Deferred Tax related to Assets and Liabilities arising from a Single Transaction” Amendments to IFRS 17 “Initial Application of IFRS 17” and IFRS 9 “Comparative Information”

1 January 2023

Endorsed

1 January 2023

Endorsed

Amendments to IAS 1 “Classification of Liabilities as Current or Non ‑ current”

1 January 2024 Not yet endorsed

Amendments to IAS 1 “Non ‑ current Liabilities with Covenants”

1 January 2024 Not yet endorsed

Amendments to IFRS 16 “Lease Liability in a Sale and Leaseback”

1 January 2024 Not yet endorsed

7.

Climate Impacts

Climate change may have a major impact on both the Company’s industrial operations and its upstream and downstream value chains, including aircraft direct operations and the wider air transport ecosystem. Accordingly, climate ‑ related risks can potentially affect the Company’s business and competitiveness, its customers and other actors in the aviation industry. For more details, please refer to the Risk Factors in the Report of the Board of Directors – 4.6 Risk Factors – Climate ‑ Related Risks. As of 31 December 2022, to the best of the Company’s judgment, there is no material impact on the Company’s assets and liabilities. The Company considered the assumptions related to the life cycle of its programmes and the related impacts on long ‑ lived assets and concluded that there is no need for impairment. Similarly, the Company did not identify any need for revision to the useful lives of the property, plant and equipment and intangible assets. For more detailed information, see “– Note 20: Intangible assets” and “– Note 21: Property, Plant and Equipment”. This is supported by the current demand for the Company’s products as demonstrated by its order backlog. As it relates to commercial aircraft, the Company’s current portfolio already delivers significant CO reduction when compared to the previous generation aircraft. Around 75% of the global commercial aircraft fleet is made up of older generation aircraft, 2

therefore, renewing the fleet represents an immediate potential for aviation decarbonisation. Furthermore, the Company expects its commitment to certify all current aircraft and helicopter programmes to be capable of flying on 100% Sustainable Aviation Fuels (SAF) by 2030 will play an important role in the sector’s decarbonisation journey. The Company has received approval from the Science Based Targets initiative (SBTi) for its greenhouse gas emission reduction near ‑ term targets. These targets, in line with the Paris agreement’s objectives, are based on climate science and cover the full set of the Company’s emissions. Airbus intends to reduce its Scope 1 and Scope 2 industrial emissions by up to 63% by 2030, in line with a 1.5°C pathway. The Company also committed to reducing by 46% the greenhouse gas emissions intensity generated by its commercial aircraft in service (Scope 3 - Use of Sold Product) by 2035. In support of the overall sector ambition, the Company is investing in and accelerating its efforts on complementary strategic pathways to reduce its environmental footprint. Overall, a major portion of the Company capital expenditures, research & technology, and research & development expenses is linked to its commercial aircraft activities and the realisation of five decarbonisation pathways (see Report of the Board of Directors – 6.1.2 – Climate change). In 2022, the total research & development expenses amounted to €3.1 billion (2021: €2.7 billion).

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