Universal Registration Document 2022

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

IMPACT OF CLIMATE CHANGE ON THE GROUP’S INVESTMENT TRAJECTORY

IMPACT OF CLIMATE CHANGE ON TRAFFIC FORECASTS Firstly, among the key assumptions used for the impairment tests of non-financial assets, the Group paid particular attention to the already existing interrelationships between traffic forecasts, risks of climate change and environmental preservation. For example, with regard to the Paris airports, which are currently the Group’s main asset in terms of value, the traffic assumptions take into account adjustment factors that modulate the air traffic forecast, both on demand and supply and ultimately on the average annual growth rates, in order to take into account the measures related to the environmental transition of the air transport sector. These factors are of three kinds: behavioural, regulatory and economic. In the base case related to medium and long term air traffic forecasts for the Paris airports, the following factors have been taken into account: ◆ behavioural changes leading to a more pronounced modal shift of passengers towards the train for domestic traffic, reducing demand and supply in this segment, mainly from 2030 onwards - As an example, the impact of the extension of the Bordeaux-Toulouse TGV line on air traffic demand from “Origin/Destination” passengers to/from Toulouse at Paris Orly has been taken into account in two stages, first between 2022 and 2029 and then from 2030 onwards, with a more significant impact starting from 2030; ◆ regulatory changes relating to the mandate for the incorporation of sustainable alternative fuels (SAF), for all flights departing from Paris and other airports within the European Union, in line with the European Union’s “Adjustment to Objective 55” legislative package for the period 2025-2050. The impact of this regulatory change on demand depend on three factors: (i) the proportion of SAF in Paris, in line with EU incorporation mandate i.e. from 2% in 2025 to 85% in 2050; (ii) the increase in airfares; (iii) the price vs. demand elasticity assumption; ◆ regulatory developments relating to the revision of the EU ETS4, with an impact on flights within the EU from 2024 and for the French overseas territories beyond 2030. The trigger is the rapid decrease in the allocation of free emission allowances for airlines from 2024 onwards, to a 100% market mechanism from 2026 onwards5. The impact of this regulatory change will be visible from 2025 and is expected to increase progressively until 2040 and then decrease as the SAF incorporation mandate increases. The possible impacts of future climate change or warming on traffic volumes or typology, both in terms of passengers and aircraft movements, have also been taken into account beyond the Paris platforms. On the other hand, no specific adjustment for regulatory constraints has been included in the traffic forecasts for assets owned by TAV Airports or AIG, as these countries are not subject to specific regulations as is the case in the European Union.

The business plans of the assets and investments that have been tested for impairment, and more generally the Group’s business plan, also take into account investments in relation to the carbon neutrality commitments made as part of the Pioneers 2025 Roadmap and the 2022-2025 Environmental Policy, which is based on 4 pillars: ◆ work towards zero environmental and energy impact in operation within our scope of responsibility (extended to dealers); ◆ take an active part in the environmental transition in the aviation sector and propose green solutions on the airside; ◆ promote the integration of each airport in a local resources system; ◆ reduce the environmental footprint of airport activity planning and development projects. In addition to the 2025 Pioneers roadmap, the Group is also committed to taking into account and reducing climate risks through several accreditations such as LEED (Leadership in Energy and Environmental Design) certification, the 14001/14064/50001 standards relating to the management of environmental impacts, greenhouse gas emissions and energy, or the Airport Carbon Accreditation. The latter, obtained by 17 of the 27 airports it operates, which aims at strong and continuous improvement in the following areas, among others: ◆ carbon neutralization; ◆ green certification for solar energy deployment projects; ◆ deployment of a continuous analysis program for water and pollution (especially water and soil); ◆ other green energy deployment projects. In this respect, and by way of example, the following investments are currently included in the Group’s investment plan: ◆ investments in solar farms, such as the one inaugurated by the Group in Caveirac, in France’s Gard region, to continue to decarbonise its energy and thus reduce its environmental footprint. This investment effort is global in scope, as TAV Airports has made it one of the 10 priorities of its action plan to combat global warming, with more than €5 million to be invested in a photovoltaic park with a production of 4 MW in Antalya, Amman airport is planning to build a solar farm in 2023 with a production of around 5 MW, which will also lead to cost savings of around €500K per year from 2024 onwards, which has been integrated into AIG’s business plan. It is also a long-term project, as the Group is already committed to the future construction of two photovoltaic farms in France’s Var and Charente regions, which, together with the Caveirac farm, will cover around 10% of the current electricity needs of the three Paris airports, i.e. almost half of the lighting needs; ◆ a global transition to LED lighting and beaconing technologies, based on the samemodel as the one that has been deployed for several years on the Group’s Parisian platforms; this transition is TAV Airports’ ambition for all its airport concessions, but also for Amman airport by 2028, for an investment envelope of more than €15 million, concerning the entire airport area;

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