2022 Universal Registration Document

Presentat i on of the Group

Group activities

In terms of sustainable development, TAV Airports will focus on increasing the energy performance of its activities and reducing the carbon impact of all new buildings. To this end, a carbon assessment over the life of the new buildings will be established and the use of renewable energies will be intensified.

TAV Airports is also well placed to contribute to Groupe ADP’s objectives in terms of ACI-ASQ and Skytrax ratings and the development of the lounge network.

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TAV AIRPORTS 2022 RESULTS AND 2023-2025 OBJECTIVES

2025GUIDANCE (IncludesNewAnkara 2025+)

2022RESULTS

2023GUIDANCE

10 -14% CAGR (2022-2025) expected 10 – 14% CAGR (2022-2025) expected

1,230 – 1,290

REVENUE (€M)

1,051

81 - 91

TOTALPASSENGERS (M)

78

50

52 - 59

INTER. PASSENGERS (M)

EBITDAMARGIN (%)

31%

Above 2022margin 1

2.5x – 3.0x

5.0x – 6.0x

NETDEBT / EBITDA

5.0x

12-18% CAGR (2022-2025) ) expected

330 - 380

EBITDA (M€)

322

220 - 260

CAPEX (€M) 2

175

1 Due to the significant growth in lower margin businesses such as Almaty and services in 2022 and onward, margin expansion between 2022 and 2025 will be slower than previously guided and EBITDA generated in 2025 will be greater than initially guided. 2 c. 35% New Ankara, c. 30% Almaty, c. 15% Macedonia.

◆ The outlook for 2023 to 2025 is based on the assumption of continued recovery from pandemic-related mobility restrictions, normal business conditions, the absence of other force majeure or security-related events and the absence of unexpected volatility or other abnormal conditions in the foreign exchange markets.

◆ Deviations from these assumptions could materially impact passenger volumes and projected financial results for 2023 to 2025. ◆ The passenger outlook includes Antalya Airport traffic. Due to the equity method, the revenue and EBITDA outlook does not include Antalya Airport.

GOVERNANCE As at 31 December 2022, TAV Airports’ shareholding broke down as follows:

Shareholders

% of share capital

Groupe Aéroports de Paris 1

46.1%

Tepe Insaat Sanayi A.Ş.

5.1% 1.2%

Sera Yapı Endüstrisi ve Ticaret A.Ş.

Other free float

47.6%

1 Through Tank ÖWA alpha GmbH, a wholly-owned subsidiary of Aéroports de Paris.

TAV Airports’ Board of Directors consists of 11 members, with 5 members to be appointed by Groupe ADP, 1 for whom Tepe can propose a candidate and 1 for whom Sera can propose a candidate and 4 independent members to be proposed by the Appointments Committee to the Annual General Meeting of Shareholders.

1 Due to the significant growth of low-margin activities such as Almaty and services from 2022, the expansion of margins between 2022 and 2025 will be slower than expected and the EBITDA generated in 2025 will be higher than expected initially. 2 c. 35% New Ankara, c. 30% Almaty, c. 15% Macedonia.

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