Aéroport de Paris - 2018 Registration document

FINANCIAL INFORMATION ON THE ASSETS, FINANCIAL POSITION AND CONSOLIDATED FINANCIAL STATEMENTS 20 GROUPE ADP CONSOLIDATED FINANCIAL STATEMENTS AS OF 31 DECEMBER 2018

The main features of concession agreements of Queen Alia International Airport (AIG) are as follows: ◆ the tariff regulation applicable to the concessionaire, concerning airport fees and other charges, is included in the concession agreement (Rehabilitation, Expansion and Operation Agreement). The aeronautical tariffs can only be increased by inflation, with the conditions of adjustment provided for in the concession contract; ◆ the users and the airlines are at the origin of the remuneration of the contracts; ◆ subsidies were granted by the grantor as part of acceleration measures related to the construction contract. No warranty from the grantor is provided in the contracts; ◆ the infrastructures are returned to the grantor at the end of the concession without compensation. Impairment loss test of airport concessions: In December 2017, subsequently especially to the traffic decrease from the airports of Milas-Bodrum and Monastir and Enfidha International in 2016, the impairment tests were realized on these concessions as of 31 December 2018 and were again performed as of 31 December 2018. ◆ Milas-Bodrum Airport The utility value of the right to operate Milas-Bodrum airport was determined from the business plan on the residual term of the concession (December 2035) and in taking into account the assumption of traffic growth and of the retail revenue per passenger. The actualization rates applied to cash flows correspond to the cost of capital (WACC)’s company and amount to 9.1% in average on the projection period. The economic sub-jacent were widely improved during the year 2018, the recoverable value is higher than the book value and none of impairment loss has been recognized as of 31 December 2018. The sensitivity analyses justify that an increase of the actualization rate of 100 base points do not lead to any impairment loss. ◆ Monastir and Enfidha International Airport The utility value of the right to operate Monastir and Enfidha international airports were determined from the business plan, prepared by the management of TAV Tunisia, on the residual duration of the concession (May 2047), on the basis of a debt restructuring assumption in mid-2019, corresponding to the end of the moratorium period. The actualization rates applied to cash flows correspond to the capital cost (WACC)’s company and amount to 8.4% in average on the projection period. On the basis of the traffic prevision and the business plan, the recoverable value is higher than the book value and none of impairment loss has been recognized as of 31 December 2018. The sensitivity analyses justify that an increase of the actualization rate of 100 base points do not lead to any impairment loss.

The main features of concession agreements concerning Izmir Adnan Menderes International Airport, Tibilissi and Batumi International Airport, Monastir and Enfidha International Airport, Skopje and Ohrid International Airport and Milas Bodrum Airport are as follows: ◆ the fee schedule is defined in the concession agreements and price increases are subject to agreement by the grantor; ◆ the remuneration is paid by users and airlines; ◆ no grant or guarantee is given by the concession grantor; ◆ infrastructures are returned to the grantor with no consideration at the end of the contract. BOT (Build – Operate – Terminate) and BTO (Build – Transfer – Operate) operations and management contracts include the following activities: ◆ terminal and airport services , which includes passenger, ramp and check-in counter services and services for parking-apron-taxi ways (for airport operations). A fee is charged to each airline based on the number of passengers that utilise the airport, based on the number of aircrafts that utilise ramps and runways and based on the number of check-in counters utilised by the airlines; ◆ duty free goods – The Group has the right to manage duty free operations within the terminals which the Group entities operate. Duty free shopping is available to both arriving and departing passengers. The duty free shops are subcontracted either to Group’s joint ventures or to other companies in exchange for a commission based on sales; ◆ catering and airport hotel services – The Group has the right to manage all food and beverage operations within the terminals both for the passengers and the terminal personnel. The Group subcontracts certain food and beverage operations in exchange for a commission based on sales; ◆ area allocation services – As a lessor, the Group leases office space in the airport terminal including the offices leased to the airlines for ticket office and banks; ◆ ground handling – The Group has the right to provide all ground handling operations for domestic and international flights under the Civil Aviation Legislation License (traffic, ramp, flight operation, cargo, etc.). Other activities operated by the Group under these concession agreements include security services within the domestic terminals, bus and car parking services, software and system services, lounge services, airline taxi services.

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AÉROPORTS DE PARIS ® REGISTRATION DOCUMENT 2018