Aéroport de Paris - 2018 Registration document

REVIEW OF THE FINANCIAL POSITION AND INCOME 09 HIGHLIGHTS OF THE 2018 FINANCIAL YEAR

Tariffs As of 1 April 2018, airport and ancillary fees (excluding fees for disabled and reduced-mobility passengers) increased by 2.125%. Appointments within Groupe ADP On 5 April 2018, Augustin de Romanet, Chairman & Chief Executive Officer of Aéroports de Paris SA – Groupe ADP, has made the following appointments: ◆ Mathieu Daubert is appointed Director of the Customer Division, member of the Executive Committee, starting 7 May 2018, to replace Laure Baume. He previously held the positions of Head of Retail; ◆ Fernando Echegaray is appointed Chief International Officer, member of the Executive Committee, starting 1 May 2018, to replace Antonin Beurrier. He previously held the position of Chief Operations Officer at ADP International; ◆ Antoine Crombez has been appointed Chief of Staff, attached to the Chairman and CEO since the 1 April 2018. Laure Baume and Antonin Beurrier decided to leave the group for new professional projects. Groupe ADP acquires the exclusive control of Airport International Group, concessionary of Queen Alia International Airport in Amman, Jordan On 19 April 2018, Groupe ADP, through its 100%-subsidiary ADP International, has finalized the transaction for the ownership of 51% of the capital, and the exclusive control of Airport International Group (“AIG”), concessionary of Queen Alia International Airport (QAIA) in Amman, Jordan. The new co-shareholders with which Groupe ADP invests are the infrastructures investment funds Meridiam and IDB Infrastructure Fund II. Edgo, already present, remains co-shareholder. Groupe ADP’s investment stands at $265 million. With this operation, Groupe ADP, already shareholder of AIG with a 9.5%-stake will fully consolidate the financial accounts of the concessionary firm. Dividend voted by the Annual General Meeting The Annual General Meeting of Shareholders held on 4 May 2018 voted to pay a dividend of €3.46 per share for financial year 2017, with an ex- dividend date of 8 June 2018. Given the interim payment (€0.70) made on 8 December 2017, the balance (€2.76) was paid on 8 June 2018. This dividend corresponds to a payout ratio of 60% of the net result attributable to the Group for financial year 2017, and is unchanged since that of financial year 2013. Appointment within Groupe ADP Augustin de Romanet, Chairman & Chief Executive Officer of Groupe ADP, appointed Hervé Wattecamps Human Resources Director, member of the Executive Committee. He took up duties on 9 July. Hervé Wattecamps, Lieutenant General, 59, is an engineer. He graduated from the École spéciale militaire of Saint Cyr (Saint Cyr Military Academy) and the École de Guerre (War School).

For the first twenty years of his carreer, he managed the operations of French alpine troops (27 th Mountain Infantry Brigade). He then developed a 15 year-expertise in the area of human resources. In 2012, Hervé Wattecamps became director of the infantry and artillery officer and non-commissioned officer training schools. Since 2015, he has been Human Resources Director for the French Army, member of the Executive Committee. He devised and conducted change management for the institution’s human resources. “PACTE” draft bill containing provisions related to Groupe ADP The PACTE draft bill on business growth and transformation (No. 1088), which, in Articles 130 to 136, contains provisions relating to the ADP Group, was definitively adopted by Parliament on 11 April 2019. The bill specifically provides for the authorisation of the transfer of the majority of ADP’s capital to the private sector and, as of the date of transfer, modifies the conditions for operating within the Greater Paris Region. As such, it provides for the right to operate Paris airports to be limited in time to a period of 70 years, at the end of which ADP’s assets operated in the Greater Paris Region and shares in companies held by ADP, with the exception of those dedicated to an activity carried out outside the aerodromes mentioned in Article L.6323-2 of the French Transport Code, will be transferred in full to the State. The draft bill provides that the State will pay ADP compensation in respect of this transfer of assets. The change in the legal regime of Aéroports de Paris will not have any accounting impact under French standards (used to prepare the financial statements for the regulated scope); the IFRS treatment remains to be assessed on the basis of future specifications. The draft bill provides that the State will pay ADP compensation in respect of this transfer of assets. The draft bill provides that this compensation amount, owing and paid by the State to Aéroports de Paris, shall be made up of two components: ◆ the first, paid at the time of the transfer of the majority of ADP’s capital to the private sector, is defined as: the sum of the after-tax free cash flows generated by the assets transferred to the State at the end of the 70 years of operation, discounted at theWACC 1 of ADP, after deduction of an estimate of the discounted net book value of the properties expropriated in 70 years at the same WACC. This amount shall be a lump sum and cannot be revised. It is calculated based on available public data, set by decree, with the approval of the Investments and Transfer Committee, (after consultation with a committee composed of three people, appointed jointly, on the basis of their financial expertise, by (i) the first President of the Court of Auditors, (ii) the President of the AMF and (iii) the President of the Association of Chartered Accountants); ◆ a second component, paid by the State to Aéroports de Paris at the end of the 70-year period, upon transfer of the ownership of these assets to the State. This second component is equivalent to the net book value of the assets transferred to the State, as presented in ADP’s financial statements at the end of the 70-year period. This is set by decree, paid to the company no later than the date of the transfer of ownership of the assets to the State. The PACTE bill secures and strengthens the current regulatory model applicable to Paris airports: ◆ confirmation of ADP’s adjusted till model by the PACTE bill; ◆ confirmation of the principle of fair return on capital employed, and clarification of the calculation method for the weighted average cost of capital (WACC) for the limits of the regulated scope estimated “using the financial assets valuation model, available market data and parameters considered for the companies engaged in comparable activities”;

1 Calculated according to the financial assets valuation model at the date of transfer of the majority of ADP’s share capital to the private sector.

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AÉROPORTS DE PARIS ® REGISTRATION DOCUMENT 2018