Universal Registration Document 2024

6 FINANCIAL INFORMATION

GROUPE ADP CONSOLIDATED FINANCIAL STATEMENTS AS OF 31 DECEMBER 2024

TRADE AND OTHER RECEIVABLES The Group's policy is to place under legal supervision and to check the financial health of all its customers (either new or not). Except for the contracts signed with the State and its fully owned subsidiaries, leases agreed between the Group and its customers include warranty clauses (deposit cheque, bank guarantee, first demand bank guarantee, etc.). Customer balances are constantly monitored. Consequently, the Group considers that the credit risk is not material given the guarantees received and the monitoring system for trade receivables. The Group exposure to credit risk is principally affected by the individual characteristics of each customer. Around 14% of the Group revenue is derived from services sold to its main customer Air France-KLM. Quantitative details regarding trade receivables and anteriority or current receivables are set out in note 4.4. In accordance with IFRS 9, the Group determines a level of impairment of its trade receivables based on expected credit losses. The Group continues to reassess, on the basis of its best estimate to date, the risk of default of its customers according to their activities: airports, real estate, retail and others. Depreciation rates are determined using judgement taking into account knowledge of the client's financial situation and any other known fact of his environment. Thus, with regard to airlines, the Group takes into consideration the support or not of the States. For all receivables, the Group takes also into account the paying behavior of customers. 9.2 Capital Management The gearing ratio increased from 150% in 31 December 2023 to 156% as at 31 December 2024. The increase in the gearing ratio is driven by the slight increase in EBITDA and the rise in net debt. The net debt to recurring EBITDA ratio remained stable at 4.1 between end-2023 and end-2024. The Group did not alter its capital management policy over the course of the year.

INVESTMENTS AND DERIVATIVE INSTRUMENTS The Group considers the credit risk relating to its financial assets to be marginal, since its counterparties have high credit ratings. The Group's exposure is linked to the possible default of third parties who have granted it derivatives, mainly first rate financial institutions. The maximum exposure is equal to the carrying amount of these instruments. The Group considers this risk to be limited. GUARANTEES Guarantees are accorded by the Group to the correct execution of international contracts. In particular, ADP International and TAV Airports gave commitments (share pledges, receivable pledge, pledge over bank accounts) in relation to bank loans that are intended to finance the construction of certain concessions (see note 13). 9.1.2 Market risk Market risk corresponds to the risk that market price variations, such as exchange rates, interest rates, raw materials and equity instrument prices, may affect the Group's results or the value of financial instruments held. The objective of the management of market risk is to manage and control exposure to market risk within acceptable limits, while optimising the profitability/risk ratio. Analyses of sensitivity to rate risk and to exchange risk are presented in note 9.5.3.

The Group occasionally buys its own shares on the open market to ensure the liquidity of its shares. The frequency of such purchases depends on market prices. The Board of Directors monitors the level of dividends paid to holders of ordinary shares. On this date, employees currently hold 1.70% of ordinary shares. Neither the parent company nor its subsidiaries are subject to any specific requirements under external regulations.

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AÉROPORTS DE PARIS w UNIVERSAL REGISTRATION DOCUMENT 2024