Universal Registration Document 2022

PRESENTAT I ON OF THE GROUP

GROUP ACTIVITIES

nevertheless benefits from development prospects in the coming years, linked to the arrival of new public transport, which will contribute to supporting the land and real estate value in Orly and CDG, and a general situation of scarcity of land around the airports in the Paris region which will induce a need for new cargo programs and for business and logistics areas. 2022 was marked by the delivery or start of construction of two projects as an investor at Paris-Charles de Gaulle airport. These are: ◆ the delivery at the end of the first quarter of 2022 of the Courtyard Residence Inn by Marriott hotel with 335 rooms in the Roissypôle Ouest district; ◆ the construction of the MIDI freight terminal in the summer of 2022 with a surface area of 12,600 m 2 in the cargo area. 1.1.3.3.4 Outlook Groupe ADP will confirm its position as an investor via the construction of new buildings or the acquisition of existing buildings, which may or may not be linked to the airports, in order to expand its customer offering. Thus, Groupe ADP aims to contribute to the creation or densification of its areas, to increasing the value of its land through the conversion of certain industrial areas and obsolete sections of old airport areas, and the rental optimisation of other zones. The development of service offerings will make it possible to meet the expectations of current and future customers. Favouring densification will remain a constant in all the projects studied. In addition, Groupe ADP has the potential for rental growth with high profitability by 2030 with the end of the long-term land contracts. For real estate, this potential represents 15 contracts such as temporary occupancy authorisations and construction leases, at the end of which the opportunities for the repossession or demolition of the assets concerned are studied on a case-by case basis. At the end of 2022, the decision was taken to take over the air freight logistics centre (CLFA) located to the south of the cargo area of the Paris-Charles de Gaulle airport in 2028. This real estate program consists of six warehouses connected to the runway and three office buildings for a total surface area of 65,313 m 2 of floor space.

As part of the “2025 Pioneers” strategic roadmap 1 the Group intends to continue its “investor” strategy, on the one hand, and take advantage of the takeover of full ownership of buildings whose leases have expired. In this context, the real estate policy is based on three fundamentals: ◆ real estate development aligned with the Group’s ESG policy, in particular through a three-way land sobriety approach with the search for densification and verticalisation, then in the choice of construction types and, finally, in the operation of the existing facilities as new around energy sobriety; In addition, one of the areas for contributing to the neutrality of external emissions is the development of 750 parking spaces equipped with charging stations for electric vehicles by 2025 in existing car parks managed by real estate; ◆ a dual perspective, with real estate “towards the inside of the platform” to support the airport ecosystem, and real estate “towards the outside of the platform”, between the airport and the neighbouring regions to support better acceptability of our activities; ◆ lastly, the deployment of a business line around the uniqueness of the Group’s real estate, first on our Parisian platforms, before extending it internationally. Due to the consequences of the Covid-19 pandemic and in a context increasingly marked by a scarcity of land, Groupe ADP had to adapt its investment strategy on the most resilient asset classes, in particular in the freight and logistics sectors (freight terminal, business park and courier warehouse), and consider the verticalisation of certain projects for reasons of sobriety. The Real Estate division also continued its policy of taking back ownership of assets at the end of the contracts and participated in the regeneration of the land by demolishing obsolete buildings or to make room for new projects while modernising the existing portfolio. After analysis of the projects, the choice of acting simply as a developer remains possible if the investment operation proves to be insufficiently profitable or if a marked risk of obsolescence is identified or if the asset envisaged is too specific. Despite the current context of high uncertainty due to the major global impacts arising from the conflict in Ukraine and an increase in key interest rates in Europe, real estate development

1

BREAKDOWN OF REAL ESTATE PROJECTS AS AT 31 DECEMBER 2022

Surface area (in m 2 )

Platform

Product

ADP Role

Customer

Project

Opening

TOTAL PROJECTS COMMISSIONED IN 2022

40,100 10,000 14,800 15,300

CDG CDG CDG

Aeronautical Diversification Diversification

Investor Investor Planner

FedEx GSE areas

2022 2022 2022

OR5

Hotels

Compans courier

Activities

ONGOING PROJECTS – BUILDING PERMIT OBTAINED OR UNDER REVIEW (DELIVERY BY 2023)

-

PROJECTS UNDER CONSTRUCTION DELIVERY (2023/2025) CDG Aeronautical Investor PROJECTS UNDER STUDY (POTENTIAL DELIVERY 2024-2030)

Midi station

Cargo

2023

12,600

12,000 TO 283,888

1 As announced at Investor Day on 17 February 2022 (see Section 5.1 “Significant events” of this document).

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