Universal Registration Document 2022

F I NANC I AL I NFORMAT I ON

GROUPE ADP CONSOLIDATED FINANCIAL STATEMENTS AS OF 31 DECEMBER 2022

Mortality assumptions used are those defined by: ◆ mortality tables of men/women INSEE prospective 2007-2060 on the service period of beneficiaries; and ◆ generational tables of men/women TGH05-TGF-05 on the annuity phase.

For the rates used in France: The rate used for discounting the commitment is representative of the rate of return for first-class bonds in euros with duration comparable to those of the commitments involved (weighted average duration of 12.0 years).

The table below shows the sensitivity of the commitment to the main actuarial assumptions

Impact on present value of obligation at 31/12/2022

Impact on present value of obligation at 31/12/2022

High assumption

Low assumption

(in millions of euros)

Drift in medical costs

-1.00% -0.50% -1 year -0.50%

(2)

1.00% 0.50% +1 year 0.50%

3

Discount rate / Expected rate of return on plan assets

17

(16)

Mortality rate

2

(2)

Salary escalation rate (inflation included)

(14)

15

Impact on present value of obligation at 31/12/2021

Impact on present value of obligation at 31/12/2021

High assumption

Low assumption

(in millions of euros)

Drift in medical costs

-1.00% -0.50% -1 year -0.50%

(4)

1.00% 0.50% +1 year 0.50%

4

Discount rate / Expected rate of return on plan assets

24

(22)

Mortality rate

4

(4)

6

Salary escalation rate (inflation included)

(17)

18

5.4 Provisions for employee benefit commitments on the balance sheet Provisions for employee benefit obligations have evolved as follows on the liabilities of the balance sheet:

2022

2021

(in millions of euros)

Provisions as at 1 January

654

748

Increases

33 26

65

Operating allowances Financial allowances

31

5

3

Provision for non-recurring items

1 1

31

Increase due to changes in consolidation scope

-

Decreases

(245)

(159) (73) (31) (48)

Provisions used

(89) (66) (87)

Recognition of actuarial net gains

Reduction/curtailment

Other changes

(3)

(7)

Provisions at 31 December

442 386

654

Non-current portion

513

Current portion

56

141

The sharp change in discount rates in France in 2022 (from 0.90% to 3.80%) generated a significant decrease in employee benefits, slightly offset by the increase in long-term inflation (from 1.80% to 2.30%), which overall represents a decrease of €80 million for the scope in France. This impact is recognized in other comprehensive income on 31 December 2022.

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