Universal Registration Document 2022

F I NANC I AL I NFORMAT I ON

GROUPE ADP CONSOLIDATED FINANCIAL STATEMENTS AS OF 31 DECEMBER 2022

6.1.1 Airport operation rights

accumulated impairment losses. The estimated useful life of an intangible asset in a service concession arrangement is the period fromwhen the Group is able to charge the public for the use of the infrastructure to the end of the concession period. Amortisation of airport operation right is calculated based on units of production method over passenger figures for all airports; ◆ the grantor - financial asset model: The Group holds an unconditional contractual right to receive payments from the grantor, independently of the user attendance of the airport. In this model, the activity of the concessionaire lead to the recognition of a financial asset giving right to interests. In balance sheet, these financial assets are classified under “Other financial assets” and are initially recognised at fair value. Subsequently, the financial assets are accounted for at amortised costs and recovered according to the lease payments received from the grantor. The income computed based on the effective interest rate is accounted for as operating revenue. This model is only for the Ankara Esenboga Airport concession.

Under the terms of IFRIC 12 Service Concession Arrangements, a concession operator has a twofold activity, for which revenue is recognized in accordance with IFRS 15: ◆ a construction activity in respect of its obligations to design, build and finance a new asset that it delivers to the grantor: revenue is recognized in progression; ◆ an operating and maintenance activity in respect of concession assets. In return for its activities, the operator receives remuneration either from: ◆ the users - intangible asset model: The Group recognizes an intangible asset arising from a service concession agreement when it receives a right (a license) to charge the public service users. In this model, the right to receive a remuneration is recognised as an intangible asset and is accounted at fair value at initial recognition. This right corresponds to the fair value of the concession sold. Subsequent to initial recognition the intangible asset is measured at cost less accumulated amortisation and

End of contract dates of main airport operating rights are as follows:

Skopje and Ohrid International Airport

Monastir and Enfidha International Airport

Tbilisi and Batumi International Airport

Izmir Adnan Menderes International Airport

6

Queen Alia International Airport

Milas-Bodrum Airport

Esenboga and Gazipasa

Country

Turkey

Turkey

Turkey

Georgia

Tunisia Macedonia

Jordan

December 2034

December 2037

May 2050 1 & May 2036

February 2027 and August 2027

May 2047

June 2032 2

November 2032

End of contract date

1 25 years of extension obtained as a result of the tender won in the auction organized by the Turkish airport authority (DHMI). 2 2 years extension obtained following the signing of an agreement between TAV Macedonia DOOEL and the Ministry of Transport and Communications of Northern Macedonia on the first half of 2022.

Airports operating rights amount to €3,380 million as at 31 December 2022(€2,539 million net carrying amount). They are composed mainly by concession agreements of Queen Alia International Airport, Izmir Adnan Menderes International Airport, Tbilisi and Batumi International Airport, Monastir and Enfidha International Airport, Skopje and Ohrid International Airport and Milas Bodrum Airport. Main concession characteristics are as follows: ◆ fees are defined in the concession agreements and price increases are subject to agreement by the grantor; ◆ users and airlines are at the beginning of fees collection of the contract; ◆ no grants or guarantees are given by the grantor;

◆ infrastructures are returned to the grantor with no consideration at the end of the contract. It should be noted that the amortisation of airport operating rights is calculated on traffic forecasts. As regard to the concession agreement signed between TAV Esenboga and the DHMI (Devlet Hava Meydanları Isletmesi) which terminates in May 2025 (2-year extension obtained in February 2021). The Group applies the financial asset model. The financial asset was initially recognized at fair value. As at 31 December 2022, the current part of this financial asset amounts to €11 million and the non-current part amounts to €4 million (see note 9.5.3 Liquidity risks).

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