Financial Statements 2023

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Accounting for derivative financial instruments and hedge ineffectiveness (Reference is made to Note 37 Financial Instruments of the financial statements)

Our audit approach

Our audit procedures included, amongst others, evaluating the appropriateness of the Company’s accounting policies related to valuation of financial instruments and hedge accounting according to IFRS 9 “Financial Instruments” and IFRS 13 “Fair Value Measurement” and whether the accounting policies have been applied consistently or whether changes, if any, are appropriate in the circumstances. With the involvement of our Treasury specialists, we evaluated the design and implementation and if considered appropriate in the context of our audit of the financial statements, tested the operating effectiveness of controls around the Company’s central treasury system. We independently calculated the valuation of the treasury portfolio and evaluated the application of the cash flow hedge accounting rules. To the extent we considered appropriate in the context of our audit of the financial statements, we obtained counterparty confirmation of the outstanding financial instruments to verify the existence and ownership of the hedge portfolio. Based on a sample of financial derivative instruments we evaluated whether the fair value of the financial instruments was correctly determined. We verified the documentation of the hedged items supported by both the recoverable backlog and forecasted production rates over the foreign currency exchange management hedging horizon. We tested the highly probable assessment of future aircraft delivery as performed by the Company and challenged key management assumptions pertaining to order cancellation, airline default and aircraft rescheduling risks.

Finally, we determined that appropriate disclosures were made in the financial statements.

Report on other information included in the annual report The annual report contains other information in addition to the financial statements and our auditor’s report thereon.

Based on the following procedures performed, we conclude that the other information: • Is consistent with the financial statements and does not contain material misstatements

• Contains the information as required by Part 9 of Book 2 of the Dutch Civil Code for the management report and the other information as required by Part 9 of Book 2 of the Dutch Civil Code and as required by Sections 2:135b and 2:145 sub-Section 2 of the Dutch Civil Code for the remuneration report

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Airbus

Financial Statements 2023