Universal Registration Document 2024

PRESENTATION OF THE GROUP 1 GROUPE ADP’S ACTIVITIES

Airport engineering for third parties Airport engineering’s mission for third parties consisted of advising and supporting airport players throughout the airport’s life cycle through multiple skills ranging from engineering to architecture, studies and works supervision. In North America, the MAV engineering subsidiary continued its business on an even keel, particularly with its long standing customers at Dallas Fort Worth (DFW) and Denver (DEN) airports, as well as consolidating its position in Toronto. It is also developing its activities in the fields of advanced air mobility and route development. 1.1.2.4.5 GMR Airports Aéroports de Paris SA finalised the acquisition of a 49% stake in the Indian group GMR Airports Limited (GAL) on 7 July 2020. The initial acquisition price was INR 107.8 billion (approximately €1,360 million), including INR 1,060 Crores in earn-outs, (€126 million) the payment of which was subject to the achievement of certain performance targets for GMR Airports’ activities by 2024, as well as certain ratchets which, if achieved would have resulted in a potential and limited dilution of ADP by 2024. The remaining 51% is held by GMR Airports Infrastructure Limited (GIL), a company listed on the Indian markets, thus establishing a joint shareholding between Groupe ADP and GIL. The financial transaction includes a strategic industrial partnership with GMR regarding business development in aviation, retail, IT, hospitality, innovation and engineering. On 25 July 2024, the merger between GIL and GAL was completed, creating the first pure-play airport holding company listed on the Indian Stock Exchange. This concludes the process initiated by the framework agreement signed on 19 March 2023 between Groupe ADP and GIL. In accordance with the terms of this agreement, the earnout and ratchet clauses entered into at the time of Groupe ADP's acquisition of the stake in GAL in 2020 were fully settled by the payment of INR 5.5 billion (approximately €62 million) and the dilution of the economic interest by 3.3%. Groupe ADP now holds 45.7% of the economic interest, while the GMR Group holds 27%. This investment is consolidated using the equity method in Groupe ADP’s financial statements. DESCRIPTION OF GMR AIRPORTS GMR Airports, is a leading Indian airport group operating in a dynamic region. It has a portfolio of world-class assets comprising six airports in three countries (India, Indonesia and Greece) and a subsidiary specialised in project management, GMR Airport Developers Ltd (GADL). The four airports operated by GMR Airports in 2024 were: u Indira Gandhi International Airport, New Delhi, India (majority holding of Delhi International Airport Ltd – DIAL, fully consolidated within GAL’s financial statements); u Rajiv Gandhi Airport, Hyderabad, India (majority holding of GMR Hyderabad International Airport Ltd – GHIAL, fully consolidated within GAL’s financial statements);

u Kualanamu Airport, Medan in Indonesia, since 7 July 2022 (minority interest, consolidated using the equity method in the accounts of GAL) alongside the Indonesian partner Angkasa Pura II; u Manohar Airport, Goa in India (majority owned by GMR Goa International Airport Ltd – GGIAL, fully consolidated in the accounts of GAL), whose operations began on 5 January 2023. The other two airports were under development in 2024 and should be commissioned in 2026 and 2027 respectively (Visakhapatnam in India and Heraklion-Kasteli in Greece). In 2018, GAL obtained the concession for Nagpur airport (around 3.5 million passengers before the pandemic), which has been the subject of numerous legal challenges. Following a final favourable ruling by the Supreme Court in September 2024, the concession contract was signed in October 2024, and u several subsidiaries managing airport concessions: Delhi International Airport Ltd (DIAL) 74% 1 owned, GMR Hyderabad International Airport Ltd (GHIAL) 74% 2 owned, GMR Goa International Airport Ltd (GGIAL), 99.9% owned, GMR Visakhapatnam International Airport Ltd (GVIAL) 100% owned, Heraklion Crete Concession S.A., 21.64% owned; u a subsidiary specialised in airport development project management, GMR Airport Developers Ltd. (GADL), 50% owned; u several service subsidiaries: Delhi Duty Free Services Private Ltd (DDFS) 17% owned and Delhi Airport Parking Services Private Ltd, wholly owned; u indirectly, the Group holds stakes in more than 20 companies, most of them being subsidiary companies, respectively, of DIAL (including DDFS, Delhi Airport Parking Services, Times Innovative Media Delhi Airport Advertising, Delhi Aviation Fuel Facility, Travel Food Services, Celebi Cargo Delhi, Delhi Aviation Services, Delhi Aerotropolis) and GHIAL (including GMR Hospitality and Retail, GMR Hyderabad Aerotropolis, GMR Hyderabad Security Services, GMR Hyderabad Airport Cargo & Logistics, GMR Aerospace Engineering, Laqshya Hyderabad Airport Media). Delhi, Hyderabad and Mactan-Cebu welcomed together a total of 103.5 million passengers during the calendar year 2019, with very dynamic domestic and international traffic. In 2024, traffic reached 117.5 million passengers (excluding Mactan Cebu), including 11.9 million passengers in the airports of Medan and Goa integrated as of their commissioning in 2022 and 2023 respectively. During financial year 2024, which ended on 31 March 2024, GMR Airports recorded total revenue of INR 84.6 billion and reported EBITDA of INR 29.1 billion. Delhi airport received ACA 5 accreditation in 2024, while Hyderabad airport retained its ACA 4+ rating. GMR AIRPORTS STRATEGY As part of the presentation of the Group’s 2025 Pioneers strategic roadmap (see section 1.2 Group Strategy), GMR Airports presented the main lines of its own five-year roadmap, in line with Groupe ADP’s vision. operations are scheduled to begin in 2025. The GMR Airports group is composed of:

1 GMR announced on 7 March 2025 the completion of its acquisition of Fraport's 10% stake in Delhi Airport. 2 GMR acquired MAHB's 11% stake in 2024.

47

UNIVERSAL REGISTRATION DOCUMENT 2024 w AÉROPORTS DE PARIS

Made with FlippingBook - Online Brochure Maker