2022 Universal Registration Document

R i sk and r i sk management 2 Risk factors

1 - C: RISKS RELATED TO QUALITY OF SERVICE In regard of the consequences of the health crisis and the traffic seen in 2022, Groupe ADP is facing a real challenge in preserving and adapting its quality-of-service initiatives. Criticality +++ Change in 2022

Detailed description of the risk factor Detailed description of the risk factor — After two years marked by the Covid-19 crisis and its consequences on the aeronautics and airport sector, the Group’s activities are impacted by: — the intensity and dynamic nature of the traffic recovery; — social pressures and recruitment difficulties affecting all business lines in the airport sector; the health situation, which remains worrying in many countries. — In such a context, the challenges for the Group are to: — protect its passengers from the risk of contamination and reassure them through the implementation of appropriate sanitary measures; — preserve service quality efforts to maintain the attractiveness of its platforms.

Potential effects for the Group — Loss of revenue in shops — Deterioration of image/reputation (media, social networks) — Increased dissatisfaction Interconnected risks — Risks related to network management — Risks related to portfolio management — Risks related to the management of major projects

MAIN RISK MANAGEMENT SYSTEMS Managing the health crisis This management was a major issue for Aéroports de Paris. The Group’s action has been focused on four main elements: ◆ cleanliness remained a top priority at all times; ◆ the “Paris Aéroport Safe Travel” customer health programwas introduced in the terminals, with a very easily recognizable graphic identity; ◆ the range of services has been developed: test laboratories, in public areas and transfer areas, in particular to maintain connectivity with China; ◆ a community of Paris Airport Safe Travel ambassadors has been set up so that teams on the ground can reassure passengers and explain health procedures at the airport.

Dynamic traffic recovery While the resumption of air traffic is above all a positive factor for the Group, its intensity and dynamic nature constitute organisational challenges. The Group’s action has been focused on four main principles: ◆ support 100% of the traffic recovery without capping the number of movements unlike other European airports; ◆ offer a reopening of terminals guided by the objective of a high contact rate; ◆ maintain the fundamental objective of time management at each stage of the passenger journey through compliance commitments at each of these stages. Make each reopened reserved area more welcoming than before the Covid-19 crisis, thanks to improvements and major conversions (renovated reserved areas: 2E Hall L, 2BD, T2G, Orly Hall B and Hall C).

1 – D: LIQUIDITY RISKS The current economic and health context poses a risk to Groupe ADP’s cash position, which must remain sufficient to meet its

commitments. Criticality ++

Change in 2022

Detailed description of the risk factor The Group could be exposed to an increase in its medium-term financial expenses, due to successive refinancing at higher interest rates than those currently in force. The change in the geopolitical context in 2022 has indeed led to malfunctions, particularly in the energy, raw materials and logistics markets, leading to an increased level of inflation (see also risk 2 - B). As central banks make the fight against inflation a priority, they have increased their key rates, resulting in an increase in short- and long-term yield curves. In addition, credit premiums have widened as concerns about economic growth have increased. The increase in base rates and risk premiums constitute a risk of the Group having to finance itself at a higher cost. Groupe ADP had a cash position of €2.6 billion as of 31 December 2022, of which €0.25 billion was held by TAV Airports. Given its available cash, and with regard to its forecasts for the next 12 months, the group does not anticipate any liquidity difficulties. This cash position provides the Company with satisfactory liquidity in the current health and economic context, and enables it to meet its current needs and financial commitments, including the repayment of an ADP SA bond debt in 2023.

Potential effects for the Group — Recourse and litigation — Damage to image/reputation — Loss of stakeholder confidence — Inability to meet financial obligations — Difficulty gaining new market share Interconnected risks — Risks related to the economic trajectory — Geopolitical risks

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AÉROPORTS DE PAR I S / UN I VERSAL REG I STRAT I ON DOCUMENT 2022