Universal Registration Document 2022

F I NANC I AL I NFORMAT I ON 6 GROUPE ADP CONSOLIDATED FINANCIAL STATEMENTS AS OF 31 DECEMBER 2022

6.3.1 Analysis of investment property Investment property is detailed as follows:

Fixed assets in progress, related advances & prepayments

Land, improvements of land and substructure

Total

Buildings

(in millions of euros)

Gross value

119

785

75

979

Accumulated amortisation, depreciation and impairment

(64)

(301)

-

(365)

Carrying amount as at 1 January 2022

55

484

75

614

Purchases and change in advances and prepayments

- -

7

16

23

Amortisation, depreciations et impairment Transfers to and from other headings Carrying amount as at 31 December 2022

(37)

-

(37)

(3) 52 114

88

(64)

21

542 874

27 27

621

Gross value

1,015

Accumulated amortisation, depreciation and impairment

(62)

(332)

-

(394)

Transfers to and from headings include reclassifications of other fixed asset headings, returns to full ownership of assets from construction leases and borrowing costs capitalized in accordance with IAS 23 revised. 6.3.2 Fair value of investment property External valuations led to the main immediate returns on investments properties presented below:

Rate of immediate return

As at 31 Dec. 2022

As at 31 Dec. 2021

(in millions of euros)

Buildings Offices Paris-Charles de Gaulle & Orly Cargo Paris-Charles de Gaulle Hangars Paris-Charles de Gaulle

284 514 117 151 80 163 156

294 467 114 118 78 152 145

4.5% -11.6% 4.0% -10.9% 8.0% -17.3% 4.2% -5.8% 8.6% -10.3% 5.8% -18.7% 4.0% -12.8% 6.1% -8.9% 5.9% -6.2% 4.3% -8.6% 6.0% -10.2% 4.8% -6.5% 5.4% -15.4% 2.7% -15.4% 4.9% -10.7%

Hotels/shops Paris-Orly and Charles de Gaulle

Hangars/freight Paris-Orly

Activity Paris-Orly and Charles de Gaulle

Paris-Le Bourget

Total of external rented buildings Ground leases Offices Paris-Charles de Gaulle

1,465

1,368

78

83

Offices Paris-Orly

15

-

Cargo Paris-Charles de Gaulle Hangars Paris-Charles de Gaulle

571

540

64

62

Hotels/shops Paris-Orly and Charles de Gaulle

286 188 123 148

288 120 164 148

Hangars/freight Paris-Orly

Logistic/activity Paris-Orly and Charles de Gaulle

Paris-Le Bourget and AAG

Total of external ground leases

1,473

1,405

Total of land reserves

307

328

TOTAL OF INVESTMENT PROPERTY

3,245

3,101

market since September and has become sluggish in late 2022. Prime yields have decompressed sharply over the past six months. The fair value of investment properties amounted to €3,245million euro at 31 December 2022 compared with €3,101 million at

Despite the economic recovery from the pandemic, there are uncertainties due to major global impacts from the conflict in Ukraine and strong inflationary pressure. The increase in key interest rates in Europe in response to rising inflation has led to a rise in borrowing costs, which has hardened the investment

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