Universal Registration Document 2024

1 PRESENTATION OF THE GROUP GROUPE ADP’S ACTIVITIES

It focuses in particular on capturing the strong growth potential in India (traffic, non-aeronautical revenues in Delhi and Hyderabad, monetisation and promotion of concession land reserves) and improving the profitability of assets in order to contribute to the Company’s borrowing reduction. This strategy also aims to facilitate the deployment of the industrial partnership signed between Groupe ADP and GMR Airports, for example, to support the renewal of the passenger experience in Indian terminals and the deployment of Smart Airports technologies.

The reduction of the carbon footprint via the implementation of green initiatives has been identified as a priority. GMR Airports’ roadmap will also make it possible to seize growth opportunities in India (new privatisation opportunities, disposal of non-controlling interests by the Airport Authority of India) and more broadly in South-East Asia.

GOVERNANCE As at 31 December 2024, the shareholders of GMR Airports Ltd were as follows:

% of post-merger share capital

% economic interest

Shareholder Groupe ADP Groupe GMR

32.3% 33.8% 33.9%

45.7% 27.0% 27.3%

Public

Following the merger between GIL and GAL, the GMR Airports Board of Directors will have 20 members. Two of them were appointed on the recommendation of ADP (Philippe Pascal and Alexis Riols) and three other appointments are still to come. Once these appointments have been finalised, ADP will have the same number of directors as GMR Infrastructure Limited. The Board of Directors also included ten independent members. ADP has the option to appoint predetermined key positions within GMR Airports, including the Deputy CEO and Global COO.

CONCESSION MODELS (SITUATION AT THE END OF 2024)

Concession fee (in % of revenues)

Airport

Type/end date of concession

GAL stake

Scope Airport Airport Airport Airport

Delhi

Concession 2036 (2066) BOT/Concession 2068

74% 74% 49% 99%

45.99%

Hyderabad

4.0%

Kualanamu Medan

Concession 2047

19%

Goa

BOT/Concession 2059 (2079)

36.99%

Linked to inflation until 2034 then INR 180/PAX from 2034

Bhogapuram

BOT/Concession 2060 (2080)

100%

Airport

Heraklion

BOT/Concession (2055) Sub-concession (2027)

22%

Airport

None

Kannur

Duty Free

—

At the end of 2024, the maturity of the GMR Airports concession portfolio was 43.6 years.

MAIN DEVELOPMENTS DURING 2024 In the post-pandemic context, the solid Indian economic growth has benefited the airport sector. This positive trend is characterised by a significant recovery in air traffic, mainly thanks to domestic flights. In 2024, this growth continued: domestic traffic at India's Delhi and Hyderabad airports rose by 8%, while international traffic grew by 14%, exceeding 2019 levels in both these segments. At Medan, traffic recovery was slower, reaching around 88% of the 2019 level at the end of the year. In 2024, the traffic on GMR Airports' four hubs reached 117.5 million passengers, representing 114.2% of the level of traffic observed in 2019, with the exception of Goa airport which opened in 2023. GMR Airports continued its development and investments in 2024, while adapting certain platform capacity investments where necessary.

In Delhi, the investment programme (Phase 3A) was completed, including major developments of the airside facilities and the first stages of the Terminal 1. Hyderabad airport continued work on the extension of its current terminal (extension of boarding piers and expansion of the processor). This work was completed in 2024. In India, the granting to GMR Airports of the concession of the Nagpur Airport was initially contested by the local authorities but was resolved. After the Bombay High Court of Justice ruled in GMR's favour in 2021, the Supreme Court of India upheld the ruling twice in 2022 and 2023, confirming GMR's role as operator. In September 2024, the Supreme Court rejected a final appeal by AAI (petition for review), ordering the authorities to honour the concession contract with GMR. This decision led to the signature of the concession contract on 8 October 2024, and the start of operations is scheduled for 2025.

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AÉROPORTS DE PARIS w UNIVERSAL REGISTRATION DOCUMENT 2024