2022 Universal Registration Document

R i sk and r i sk management

Risk factors

Evolution since 31 December 2021

Extra financial risk

Net criticality

Description

Risks for the business model 1 - A: Risks related to the economic trajectory In an unstable health context, the uncertainties weighing on the growth of air traffic and its recovery to that of 2019 are weighing on Groupe ADP’s activities. 1 - B: Risks related to regulation Uncertainties about the legal framework of regulation and the decision-making practices of ART are likely to affect Groupe ADP’s business model. 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. 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. Risks of external threats 2 - A: Cybersecurity risks In a global context of increasing cyber-attacks, Groupe ADP may be exposed to malicious acts on its information systems. 2 - B: Geopolitical risks Geopolitical events that may cause changes in the global economic situation are likely to affect Groupe ADP’s activities. +++ 2 - C: Safety and security risks In a turbulent global geopolitical context, marked by an ever-changing threat of terrorism or attacks by third countries, Groupe ADP may be exposed to malicious acts on people, its facilities or on the assets it operates. +++ Risks related to the maintenance and robustness of airport capacities 3 - A: Risks related to network management Groupe ADP faces challenges with respect to the robustness of its key networks (electricity, energy, water, IT and telecommunications). ++ +++ +++ +++ ++ +++ Risk related to the development projects of the Group’s platforms 4 - A: Risks related to the effects of climate change Insufficient awareness of environmental issues and of the impacts of climate change could negatively affect Groupe ADP’s activity and growth prospects, and even lead to a decline in air traffic. Compliance risks 5 - A: Corruption and business integrity risks Prohibited practices contrary to ethics and compliance in business conduct by employees or third parties may damage Groupe ADP’s reputation and share value. ++ ✔ 5 - B: Risks related to data management Legislative and regulatory changes may affect Groupe ADP’s data management and generate significant compliance costs. + 5 - C: Risks related to aviation safety Groupe ADP is subject to particularly constraining civil aviation safety standards, non-compliance of which may have negative consequences for its airport management activity. +++ ✔ ✔ 3 - B: Portfolio management risks Groupe ADP faces the challenge of maintaining its assets. 3 - C: Risks related to the management of major projects Groupe ADP is exposed to the risk of non-control of major projects. + +

2

New

New

+

+++ High criticality

++ Medium criticality

+ Low criticality

Key: Net criticality

Evolution compared to 2021

Increase

Stable

The Group is now exposed to exchange rate risks arising from fluctuations in the Indian Rupee (INR) and the Turkish lira (TRY). Nevertheless, the group considers that exchange rate risks are not very material. See Note 9 to the 2022 consolidated financial statements for more information on financial risk management, and in particular Note 9.5 for more information on the use of financial instruments and hedge accounting.

Like other listed companies, Groupe ADP is facing risks related to foreign exchange and interest rates. Nevertheless, with regard to its financial position and rating in particular (A, negative outlook since 25 March 2020, long term credit rating by the Standard & Poor’s agency) Groupe ADP views those risks as immaterial. They are described in the appendix of the group consolidated accounts.

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