Universal Registration Document 2024

2 RISK FACTORS AND INTERNAL CONTROL RISK FACTORS

2.1 RISK FACTORS 2.1.1 SUMMARY OF THE MAIN RISKS AND METHOD

This paragraph contains a description of the significant risks specific to Groupe ADP’s activities. The risk factors, presented by categories without hierarchy between them, are ranked within the same category by order of decreasing importance. They are numbered in order to facilitate the link between the following table and the detailed descriptions. The risks have been subject to a hierarchisation depending on their “net criticality”, meaning according to their impact and frequency, in regard of the existing control elements (see the key below). Each risk factor is detailed by indicating a complete description of the risk, the potential effects for the Group in the event of occurrence, the interconnected risks (where an intercorrelation effect exists between different risks) as well as the systems put in place to mitigate Groupe ADP’s risks. In addition, section 2.2.2 of this document describes the risk management system in place within the Group.

Furthermore, since 2023, in order to anticipate new types of risks in the aeronautics sector and contribute to strategic planning, Groupe ADP carried out prospective analysis exercises, in particular with a mapping of emerging risks. Pursuant to the new Corporate Sustainability Reporting Directive (CSRD), the Group used this risk management system to identify its material CSR matters. The risk factors set out below have been cross-referenced with the matters identified in the materiality assessment, which are described in greater detail in chapter 5 of this document. Several CSR matters may correspond to a single risk factor, and some risks do not necessarily concern CSR matters. Groupe ADP’s risk factors are grouped in five risk categories (risks for the economic and social model, risks related to external threats, risks related to the maintenance and robustness of airport capacities, risks related to the Group’s platform development projects and risks related to corporate culture). Each of these five categories includes one or more risk factors, with a total of 17 risk factors.

Net criticality Related material matter

Evolution since 31 December 2023

Description

Risks for the business and social model 1 – A: Risks related to the economic trajectory

In a changing macroeconomic context, the uncertainties weighing on the growth of air traffic and its recovery to that of 2019 and its moderate long term pace are weighing on Groupe ADP's activities 1 – B: Risks related to airport economic regulation The complex nature of the legal framework of regulation and uncertainties inherent to the regulator's oversight are likely to affect Groupe ADP's business model 1 – C: Risks related to quality of service In a context of traffic recovery, Groupe ADP must continue to adapt and improve its quality of service 1 – D: Risks related to the social model With the recovery of activity, combined with strong quality requirements, and in a context of tension on the job market, the Company must adapt its resources and support the transformations in order to be able to project itself over the medium term ++ 1 – E: Liquidity risks Risk for Groupe ADP’s cash level. It must remain sufficient to meet its commitments and financial obligations ++ Risks of external threats 2 – A: Cybersecurity risks In a global context of increasing cyber-attacks, Groupe ADP may be exposed to malicious acts on its IT systems 2 – B: Geopolitical and macroeconomic risks Geopolitical events that may cause changes in the global economic situation are likely to affect Groupe ADP's activities 2 – C: Safety and security risks In a turbulent global geopolitical context, marked by an ever-changing threat of terrorism or attacks by third countries, Groupe ADP may be exposed to malicious acts on people, its facilities or on the assets it operates

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Hospitality for all

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Safeguarding jobs and skills and enhancing appeal/Workforce health and safety

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Public and airport security and safety

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