Universal Registration Document 2024

FINANCIAL INFORMATION 6

GROUPE ADP CONSOLIDATED FINANCIAL STATEMENTS AS OF 31 DECEMBER 2024

As of 31 December 2024, the interest rate derivatives qualifying as cash flow hedges had the following characteristics:

Effective portion of the derivative recorded in OCI 31/12/2024

Hedged item

Hedging instrument

Fair value as at 31 Dec. 2024

Nominal value EUR

Nominal value EUR

Hedging ratio (1)

Type

Type

TAV Airports

Variable rate bank loans

Interest rate swap CFH

710

441

62 %

47

2

AIG

Variable rate bank loans

Interest rate swap CFH

21

13

62 %

–

–

1 Ratio of nominal value of hedging instruments to nominal value of hedged items.

There was no ineffectiveness at 31 December 2024 in relation to the interest rate swaps. As at 31 December 2024, the analysis of sensitivity to interest- rate risk is as follows: The test is carried out for all bank and bond debt of the Group's consolidated entities. The interest-rate risk risk sensitivity analysis is based on the assumption of a

+/-100bps shock to the EUR and USD curves, representing all the Group’s outstanding bank debt and bonds, with the exception of four loans denominated in Turkish lira for an amount of TRY 4.43 million or €0.1 million at 31 December 2024.

As at 31 Dec. 2024

Impact on equity

Impact on income

+100 basis points -100 basis points +100 basis points -100 basis points

(in millions of euros)

Sensitivity of interest expense (+/- interest on debts and +/- payments on derivatives) Fair value sensitivity of derivatives qualifying as hedging instruments (1)

N/A

N/A

-4.1

4.1

16.0

-17.6

N/A

N/A

1 The TAV sub-group and AIG do not hold any derivatives that do not qualify as hedging instruments.

EXCHANGE RISK

International participations expose the Group to exchange risk. The main risk of change relates to the variations of the euro currency compared to the Turkish lira, American dollar and Indian rupee. The currencies in which transactions are mainly denominated are euro, Turkish lira (TRY), American dollar (USD) and Indian rupee (INR), as well as few currencies from the Persian Gulf liked to American dollar with a fixed parity, e.g., Sudanese rial, United Arab Emirates dirham and the Oman rial.

In order to reduce exposure to exchange fluctuations, the Group has a hedging policy consisting of: u implementing derivative instruments; u neutralising exchange rate risk as far as possible by reducing the balance of revenue and expense in these currencies; u if necessary making partial forward purchases/sales of dollars for the residual balances.

615

UNIVERSAL REGISTRATION DOCUMENT 2024 w AÉROPORTS DE PARIS