Aéroport de Paris - 2018 Registration document

ORGANISATION CHART

BUSINESS OVERVIEW

PERSONS RESPONSIBLE FOR THE REGISTRATION DOCUMENT AND ANNUAL FINANCIAL REPORT

STATUTORY AUDITORS

SELECTED FINANCIAL INFORMATION

RISK MANAGEMENT AND CONTROL

INFORMATION ON THE COMPANY

REAL ESTATE ASSETS AND FACILITIES

REVIEW OF THE FINANCIAL POSITION AND INCOME

EQUITY AND CASH FLOWS

2 Hotels: €184 million in CAPEX and €16 million in additional annual rent By 2025, the Group wants to maintain a systematic positioning as investor for hotel projects. By 2025, ADP's ambition is to be the owner of more than 1,580 rooms, or 24% of the hotel offering serving its Parisian airports; 3. Business parks: €64 million in CAPEX and €11 million in additional annual rent By 2025, the Group should be faced with a structural need for business surface areas directly related to the development of the support functions due to the increase in air traffic. Thus, between 2019 and 2025, the expected increase amounts to 60,000 m2, systematically in "ADP Investor" mode; 4. Offices: €292 million in CAPEX and €21 million in additional annual rent The Group's tertiary offering should mainly develop at Orly by 2025, notably thanks to the certain arrival of line 14. Other projects are also expected, such as the programming of a 70,000 m2 tertiary campus to the North of Orly by 2024, adjacent to a Grand Paris Express station; 5 Industrial aeronautical offering: €11 million in CAPEX and €2 million in additional annual rent By 2025, the Group should be faced with stagnating demand for hangars, offset nevertheless by the momentum in engine and equipment maintenance. These outlooks by 2025 do not constitute new forecasts and targets. They are the Group's preliminary medium-term vision in terms of real estate, which supplements the unchanged targets of the Connect 2020 plan.

land that are higher than the previous land rents. By 2045, the estimated rental upside is around €54 million for expected investments of some €192 million. Aéroports de Paris has set a target of 10-15% growth in external rent over the 2014-2020 period, made possible by new developments, particularly as investor, the takover of ownership of assets as leases expire and the renegotiation of existing contracts. In parallel, refurbishing existing holdings will cost €160 million and 100,000 sq.m. of obsolete buildings will be demolished. The planned investments will be to the tune of a total of €600 million, of which €300 million (including subsidiaries and debts) as investor, €185 million for maintenance, servicing of assets and asset management policy, and €100 million as developer. Perspectives On 4 April 2019, before an Investors' Day, Groupe ADP published insights into its real estate ambitions by 2025 and beyond. For this horizon, the Group estimates that it may invest around €735 million for the creation or recovery of assets that could generate around €74 million/year in additional rent according to the Group's estimates: 1 Cargo: €185 million in CAPEX and €24 million in additional annual rent Between 2018 and 2025, the Group is considering increasing the surface areas dedicated to the Cargo activity by 100,000 m2 (+15% of the total) systematically in "ADP investor" mode, with the exception of the extension to the FedEx hub In addition, over the 2010-2025 period, a +51% increase in rent is expected, significantly higher than the surface areas created (+28%), notably thanks to this new "ADP Investor" positioning;

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Breakdown of real estate projects as at 31 December 2018

Floorspace (in m 2 )

Airport

Segment

ADP Role Developer

Operator

Project Opening

CDG CDG CDG ORY CDG CDG CDG ORY ORY ORY ORY CDG CDG CDG ORY CDG CDG CDG CDG

Diversification Aeronautical Aeronautical Diversification Aeronautical Diversification Diversification Diversification Diversification Diversification Diversification Diversification Diversification Diversification Diversification Diversification Diversification Diversification Diversification

Sogafro/SDV

Offices and warehouses

2016 37,500

Investor

Aerolima Equipment maintenance centre (tranche 1)

2016

4,300

Developer Developer

Aérostructure

Maintenance 2016 19,000

Accor

Hotels

2016 2017 2017

7,700 1,300 17,100 1,000 17,800 10,800 7,100 3,700 19,500 4,600

Investor

TCR Equipment maintenance centre (tranche 2)

Investor Registered office

Offices

Investor

Divers Vailog

Warehouse 2017 Courier service 2017 Warehouse 2017

Developer Developer Developer Developer

Groupe Auchan

Accor

Hotels

2017

RSF

Employee residence 2017

Investor

Divers

Dôme properties

2017

Developer Developer

Audi

Showroom 2018

Holiday Inn

Hotels

2018 10,000 2018 22,000 2018 12,900

Investor Investor

Roméo

Offices and warehouses

Baïkal

Offices

Developer Developer

Aélia

Warehouse 2018 Concession 2018

6,000 2,200

VW

Investor

Divers

Offices

2018

700

TOTAL PROJECTS COMMISSIONNED AT THE END OF DECEMBER 2018

205,200

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AÉROPORTS DE PARIS ® REGISTRATION DOCUMENT 2018