Universal Registration Document 2024

SUSTAINABILITY REPORT 4 ENVIRONMENTAL MATTERS

Impact of physical climate risks on Groupe ADP’s assets In 2022, Groupe ADP undertook an assessment of current and future climate risks for all its assets, taking into account two IPCC global warming scenarios – SSP2-4.5 (the so-called “median” scenario) and SSP5-8.5 (the most pessimistic scenario) for 2030 and 2050. The worst-case scenario, SPP5-8.5, was chosen for the long-term analysis in order to prepare the Group for a high- emissions climate scenario and to anticipate future regulations. As a first step, Groupe ADP conducted a gross risk analysis to identify the most critical sites and map the most impacting climatic perils (based on the European taxonomic classification of climate-related risks). The initial analysis of gross climate risks shows that flooding and heat-related risks play the main role in the Group's portfolio risk exposure. In 2023 and 2024, the Group continued to assess the exposure of assets to physical risks by analysing the net physical climate risks for airports it controls. This second stage of the analysis involves in-depth site visits. The aim is to take account of existing and planned mitigation and adaptation measures in qualifying the risk. The analysis includes an assessment of the cost of additional risk mitigation and adaptation measures that could be put in place, as well as an evaluation of the impact of net risk on asset values. [E1-ESRS 2 SBM-3-19-(b)] → Date of the resilience analysis The analysis and results presented above were produced in 2022-2023. [E1-ESRS 2 SBM-3-AR 7-(b)] → Time horizons applied for the resilience analysis [E1-ESRS 2 IRO-1-AR 11-(a)] → Climate-related risks have been identified in the short-, medium- and long-term. [E1-ESRS 2 SBM-3-19-(c)] → Description of the results of the resilience analysis See [E1-ESRS 2 SBM-3-19-(b)] → Information on how the resilience analysis was carried out. [E1-ESRS 2 SBM-3-AR 8-(b)] → Description of the ability to adjust or adapt the strategy and business model to climate change The analysis of physical or transition climate risks has already been reflected in the adaptation of Groupe ADP's strategy and business model (see [E1-ESRS 2 SBM-3-19-(a)]). Other strategic adaptations are being studied, such as the development of an airport model based on the circular use of resources. From 2025 onwards, the analysis of physical risks will lead to the development of an action plan identifying the CapEx/ OpEx resources required and to be integrated into the scheduling.

Sensitivity of impairment tests to the increasing impact of climate change To better illustrate the impact of climate change on traffic forecasts and therefore on the Group’s asset value, we have compared two alternative traffic forecasts for the Parisian hubs with the base case traffic forecast used in the business plan as described above: u the first is an optimistic forecast, with higher passenger demand compared to the base case, where traffic growth would not be constrained by stricter regulations and in which the environmental transition of the air transport sector would have no visible impact on demand (mainly by no additional costs being passed on to passengers). In this forecast, the average annual growth in passenger traffic would be 75 points higher than the base case growth rate; u the second is a conservative forecast taking into account additional regulatory constraints on departing and arriving traffic at Paris-Charles de Gaulle and Paris-Orly, and assuming – in addition to constraints in the base case – a ban on all domestic routes for which there is a rail alternative taking less than four and a half hours, both for origin/destination flights and for flights bringing connecting passengers to airline hubs (as an extension of the Climate and Resilience Act currently prohibiting domestic flight routes when a rail alternative taking less than two and a half hours exists, except for those used mainly by connecting passengers). In this forecast, the average annual growth in passenger traffic would be 15 basis points lower than the base case growth rate. Impact on the Group's investment trajectory The business plans of the assets and investments 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 2025 Pioneers roadmap and the 2022-2025 Environmental Policy. Impact on the Group's OpEx trajectory In terms of sustainability issues more generally, the Group's business plan takes into account the financial contribution to the ecological transition through the new tax on the operation of long-distance transport infrastructure, applicable from 1 January 2024, in accordance with the provisions of the 2024 Finance bill. This 4.6% tax is applicable to Aéroports de Paris SA's revenue, notably excluding revenue from airport safety and security services and after the deduction of a €120 million exemption.

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UNIVERSAL REGISTRATION DOCUMENT 2024 w AÉROPORTS DE PARIS