Universal Registration Document 2024

PRESENTATION OF THE GROUP 1 GROUPE ADP’S ACTIVITIES

OPERATIONAL INDICATOR FOR MONITORING SALES MOMENTUM

Organised around three main brands (Paris City Vision, Mon Petit Paris and Paris Seine), Paris Experience Group offers visits to museums and historic monuments, sightseeing tours of Paris and excursions in Île-de-France and neighbouring regions, lunch and dinner cruises and private events on the Seine. Paris Experience Group is positioned in a growth market and benefits from solid positions: long-standing links facilitating access to monuments and cultural institutions, strategic locations on the Seine, significant BtoB commercial weight (through hotels, travel agencies, etc.), particularly on certain key markets such as the United States. The acquisition of Paris Experience Group will help enhance Extime's value proposition for the entirety of tourists' stay in Paris. From a “creator of unique, timeless experiences in the airside areas of Paris airports”, Extime is becoming a “creator of experiences throughout a stay in Paris” for tourists. In addition, the very high exposure of the Paris Experience Group brands will significantly increase Extime brand awareness among tourists travelling to Paris.

With this new, more comprehensive airside retail and hospitality strategy, the operational indicator used by the Group to monitor changes in performance relative to retail momentum is revenue per Extime Paris passenger (Extime Paris revenue/PAX), which includes all retail activities in the airside areas (shops, bars and restaurants, exchange and tax refund offices, trade shows, VIP receptions, advertising and other paid services. Extime Paris revenue/PAX is thus calculated by dividing the revenue from all retail activities in the reserved area (also known as “airside”) by the number of departing passengers at Groupe ADP’s Paris hubs. Extime Paris revenue/PAX reached a record level of €32.1 in 2024, illustrating the robustness of Aéroports de Paris’ business model in terms of retail activities.

1.1.2.3 Real estate – Paris region hubs

2024/2023 change

2024

2023

(in millions of euros)

REVENUE

332 290

313 269

+€19M +€21M

External revenue Internal revenue Recurring EBITDA

42

44

-€2M

254 195

215 149

+€39M

OPERATING INCOME FROM ORDINARY ACTIVITIES

+€46

External revenue is generated with third parties (outside the Group) and internal revenue is generated between the Group’s subsidiaries.

1.1.2.3.1 Business overview Non-terminal real estate activity is a strategic development axis and has become a focus for growth for the Group with an economic cycle that differs from that of Groupe ADP’s other activities. The strong growth potential, resulting from the Company’s substantial real estate reserves (268 hectares), a density that is nevertheless still low in certain areas, and the medium and long-term reversion potential of occupied land (acquisition of assets at end of lease), is an important driver for the creation of value for Groupe ADP. There are two complementary categories of real estate assets: u airport real estate includes land and buildings intended for aviation activities outside the terminals or requiring direct access to runways, such as aircraft maintenance hangars, frontline cargo courier services and industrial buildings; u diversification real estate, which includes land and buildings that do not have direct access to runways, or for which this access is not essential to the operation of the activity, such as offices, hotels, retail and business premises, logistics premises and warehouses. These real estate activities have been excluded from the regulated scope since 1 January 2011.

Groupe ADP provides these real estate services to customers in a wide range of sectors, including Accor, Air France-KLM, Audi, Bolloré Logistics, Dassault, DHL, DSV, FedEx, Groupe La Poste, Hilton, IHG, Kuehne and Nagel, Servair and Volkswagen. The top ten customers accounted for around 55% of external sales in 2024. Specific monitoring through the master plans of its key account customers has been put in place to support them over the long term. Leases are mainly long term, thus limiting rental risk. At 31 December 2024, 42% of leases by value had a maturity date of 10 years or more. On leased land, Temporary Occupancy Authorisations (AOTs) or construction leases may be for up to 70 years. For leased buildings, these are commercial or civil leases.

THE LAND PORTFOLIO DEDICATED TO REAL ESTATE ACTIVITY

Aéroports de Paris owns its entire land portfolio, which extends over 6,686 hectares, of which 4,638 hectares are reserved for aviation, 852 hectares are areas that cannot be exploited, and 1,196 hectares are dedicated to real estate activities.

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UNIVERSAL REGISTRATION DOCUMENT 2024 w AÉROPORTS DE PARIS