Universal Registration Document 2024

FINANCIAL INFORMATION 6

GROUPE ADP CONSOLIDATED FINANCIAL STATEMENTS AS OF 31 DECEMBER 2024

As at 31 December 2024, foreign exchange derivatives qualifying as cash flow hedges (CFH) have 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

Currency swap CFH

Bond

386

367

95 %

11

11

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

At 31 December 2024, no ineffectiveness had been generated by currency swaps.

LIQUIDITY RISKS

Liquidity risk corresponds to the risk that the Group may experience difficulties in honoring its debts when these become due. The Group's liquidity risk must be assessed in relation to: u its cash and potential cash credit lines unused: u the Group monitors its cash on a daily basis. The multi- year cash flow forecast budget is recalculated monthly and a monthly forecast report is sent to the Executive Management on its existing financial commitments in terms of repayment (debt maturities, off-balance sheet commitments, prepayment provisions), u the maturity schedule of financial liabilities are presented below. Off-balance sheet commitments are presented in note 15, u the Group has entered into loan agreements with mandatory prepayment clauses, u for loans issues contracted through the European Investment Bank (EIB), a consultation clause that could lead to a request for early repayment is included

within the contracts. These clauses concern: a lowering of the Group's rating to below or equal to A by the specialist agency Standard & Poor's (or any equivalent rating issued by a comparable rating agency), loss by the State of most of its share capital and its voting rights, and in the case of a substantial reduction in the cost of the project as defined within the loan contract (proportional repayment only); and u its ability to raise funds to finance investment projects: u the Group's euro-denominated bonds are listed on the Paris Stock Exchange, u there is a provision in place with regard to bonds issued since 2008 that, in the case of a change of controlling interest in the Company and a rating below or equal to BBB- at the point of the change of controlling interest, each holder of a bond may request repayment or buy- back by the issuer of all or a proportion of the bonds that it holds at their nominal value.

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UNIVERSAL REGISTRATION DOCUMENT 2024 w AÉROPORTS DE PARIS