2022 Universal Registration Document

R i sk and r i sk management 2 Risk factors

3 - B: PORTFOLIO MANAGEMENT RISKS Groupe ADP faces the challenge of maintaining its assets. Criticality +

Change in 2022

Detailed description of the risk factor Groupe ADP is bound to provide its customers with facilities in good working order. Given the complexity and density of its physical infrastructure in its Parisian platforms (with a strong increase in reception capacities over the last ten years), the group is exposed to an obsolescence and value loss risk of its infrastructure.

Potential effects for the Group — Impact on airport operations — Additional financial costs not initially planned — Damage to image/reputation Interconnected risks — Risks related to the economic trajectory — Risks related to quality of service — Risks related to network management — Risks related to the management of major projects — Risks related to the effects of climate change

MAIN RISK MANAGEMENT SYSTEMS At all of the airports managed by the group, infrastructure maintenance presents challenges in terms of security, image, customer satisfaction (airlines, passengers), operational effectiveness and relations with the supervisory authority ( Direction Générale de l’Aviation Civile ) or the concessionary authority at international level. In a context of health crisis, the asset maintenance program of Groupe ADP, managed on a multi-year basis, remains one of its main priorities.

In France, this resulted in the partial refurbishment of runway 1 and adjoining taxiways at Paris-Charles de Gaulle airport and a number of critical taxiways (W43, W35/36, W2, etc .) at Paris-Orly Airport in 2022, and the creation of a maintenance department in place since 2020. The state of the Parisian platforms and the resources needed to their maintenance in operational condition are monitored in the Investments strategic committee (CSI). In other countries where the group operates, infrastructure maintenance is continuously monitored under the concession agreements between the concessionary authorities and Groupe ADP’s international entities.

3 - C: RISKS RELATED TO THE MANAGEMENT OF MAJOR PROJECTS Groupe ADP is exposed to the risk of non-control of major projects. Criticality + Detailed description of the risk factor Groupe ADP is exposed to the risk of non-control of large-scale projects. As part of its activity, Groupe ADP is required to carry out, as contracting authority or project manager, infrastructure projects that are intrinsically complex and require significant investments and lengthy appraisal procedures and regulatory authorisations. The investment program proposed by Groupe ADP for the 2023-2025 period is detailed in section 3.3 of this report. These projects are also characterised by a long investment cycle (from the design phase to commissioning). As a result, unexpected changes in the volume or structure of air traffic, for example, or significant technological developments, could lead to the latter being ultimately unsuited to requirements. In addition, existing infrastructure may be saturated while waiting for the delivery of new facilities. Lastly, returns on investments could be lower than expected and thus have a negative impact on Groupe ADP’s financial position and outlook. More generally, the completion of these projects may be subject to numerous technical, industrial, operational, economic, regulatory or environmental risks that may delay or even prevent their delivery. The largest projects that could be subject to risks in 2022 included the reopening of Terminal 1 at Roissy-Charles de Gaulle in December 2022 as well as the project to build the future Paris-Orly multimodal station and its link to the Paris metro.

Change in 2022 New

Potential effects for the Group — Lack of coordination of construction sites/ Construction interrupted or abandoned — Project objectives not met — Additional financial costs due to the need to extend projects or reformulate purchasing requirements or inflation — Lack of anticipation and/or consistency in the planning of infrastructures and developments — Difficulty in developing new infrastructures due to the recurring instability of traffic scenarios — Tighter conditions for obtaining administrative authorisations — Saturation of land access from/to platforms Interconnected risks — Risks related to the economic trajectory — Risks related to quality of service — Risks related to network management — Risks related to portfolio management

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