Slides
Page 1
CATHAY PACIFIC 2Q26 PRESENTATION Prof. Dr. Matthias Zieschang , CFO August 2026 Fraport
Page 2
Fraport AG DISCLAIMER 2Q26 Presentation, August 20262 This document has been prepared by Fraport solely for use in this presentation. The information contained in this document has not been independently verified. No representation or warranty – whether express or implied – is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained therein. Neither the company nor any of its affiliates, advisors or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss arising from any use of this document or its content or otherwise arising in connection with this document. This document does not constitute an offer or invitation to purchase or subscribe for any shares and neither this document nor any part of it shall form the basis of, or be relied upon in connection with, any contract or commitment whatsoever. This document contains forward-looking statements that are based on current estimates and assumptions made by the management of Fraport to the best of its knowledge. Such forward-looking statements are subject to risks and uncertainties, the non-occurrence or occurrence of which could cause the actual results – including the financial condition and profitability of Fraport – to differ materially from or be more negative than those expressed or implied by such forward-looking statements. This also applies to the forward looking estimates and forecasts derived from third-party studies. Consequently, neither the company nor its management can give any assurance regarding the future accuracy of the opinions set forth in this document or the actual occurrence of the predicted developments. By accepting this document, you agree with the foregoing.
Page 3
Fraport AG Pax 2Q26 vs. PY Pax 1H26 vs. PY FRA: Impacted by Strikes, Weather, and War in Middle East Excl. for Strikes and Weather: +1.5% PAX in 1H and flat in 2Q Internationals ex. AYT with continued Traffic Momentum: +5% in 1H26 AYT impacted by Proximity to Iran resulting in 2Q booking hesitancy Modest Outlook on FRA Summer due to LH Capacity Reductions FY26 Traffic Outlook for FRA amended to about FY25 Levels -3% 5% 0% 4% 13% 7% -8% 4% 0% -1%-1% 5% 1% 12% 15% 9% -6% 5% 2% 1% -2% 5% 1% 2% 13% 8% -10% 4% -1% -1% Frankfurt Greece Lima Brasil Ljubljana Twin Star Antalya Intl. Airports ex AYT Intl. Airports Group Airports BUSINESS UPDATE MIXED TRAFFIC PERFORMANCE I STRONG DIVERSIFICATION EFFECT 2Q26 Presentation, August 20263 Total Pax Jun 26 vs. PY
Page 4
Fraport AG BUSINESS UPDATE SOFT FRA TRAFFIC REPORTING I ROBUST UNDERLYING 2Q26 Presentation, August 20264 2Q Development ▪ -530k FRA PAX of which LH Strikes amounted to 500k (direct impact) → Robust underlying business development in light of c.300k PAX lost to Middle East due to War in Iran ▪ Strong PAX load to and from Africa and Far East partly compensated Middle East Effect (+100k) ▪ Smooth Opening of Landmark Terminal 3 and Transitioning of T2 Carriers ▪ Terminal 2 closed on June 9 ▪ First month of T2 / T3 non-Schengen Shift with retail upside, despite reduced Middle East PAX Numbers and EES Headwind Frankfurt Traffic Impacted by Geopolitical Tensions, Airlines Reacting to High Jet Fuel Prices, and Continued Delays in A/C Deliveries → 777-X Taken off the 2026 FAA Schedule FRA Preliminary Passengers July: +1.4% YTD: -0.5%
Page 5
Fraport AG BUSINESS UPDATE GOOD EARLY T3 RETAIL INDICATIONS 2Q26 Presentation, August 20265 Apr 23 – June 9, Transitioning of T2 Carriers into T3 June 2026 with c.30% Retail Uplift (T3 vs. T2) Due to Overall Good Development and Strong Advertising - despite 27% lower Middle East PAX & EES Headwind Next: Q3 High Season with 2026 Peak T3 PAX Load Winter 2026: X-Mas Travel Season Next Next
Page 6
Fraport AG BUSINESS UPDATE INTERNATIONALS WELL ON TRACK 2Q26 Presentation, August 20266 2Q Development ▪ Robust Passenger Performances in Greece, Ljubljana, Twin Star, and Brazil ▪ Greek Airport Charges increased by 1.8% in April ▪ c.6% Increase in Average Charges in Brasil and Lima + Commercial Area Expansion in Lima ▪ Dividend payments from Fraport Greece, Brasil, and Antalya ▪ Concession Agreement to Operate Kalamata Airport ratified on July 22nd, Operations Start planned for Autumn Sound Overall Business Trends despite High Jet Fuel Prices and Middle East War Impacts
Page 7
7 2Q26 Presentation, August 2026 GROUP P+L DESPITE FRA TRAFFIC WEAKNESS AND T3 START-UP COST RESILIENT EBITDA ALSO DUE TO STRONG INTERNATIONALS Revenues ex. IFRIC 12 EUR 1,128mn +4% vs. 2Q2025 EBITDA EUR 386mn +1% vs. 2Q25 EBIT EUR 207mn -19% vs. 2Q25 Net Debt/LTM EBITDA 6.0x -0.6x vs. 2Q25 Free Cash Flow EUR -59Mn -87Mn vs. 2Q25
Page 8
8 2Q26 Presentation, August 2026 CASH FLOW TEMPORARY NEGATIVE FCF, DVD AND F/X INCREASE NET DEBT Divs from at equity companies EUR mn +193 -25 -5 FRA T3 Greece Capex Brazil Capex Mainly DIV distribution Net Debt June 30, 2026 -8 Free Cash Flow 2Q26: € -59mn 8,549 Other Capex mostly FRA Lima Capex Fixed Concession Payments -65 -10 IFRS 16OCFNet Debt March 31, 2026 -6 -2 -144 IAS 23 Borrowing Cost 8,692+13 Comments € mil. 2Q26 2Q25 % Operating cash flow 193 313 -38 Capex1 255 302 -16 Brick-and-Mortar Capex2 244 265 -8 Free Cash Flow 3 -59 29 - Net Debt 8,692 8,528 +2 Net Debt / LTM EBITDA 6.0 6.6 -0.6x Equity 5,520 5,140 +7 Gearing ratio 168 177 -9PP 1 = Capex in airport op. projects, other intangible assets, PPE, investment property, and at equity investments. No consideration of one-time payments for acquisitions / equity injections to acquire 2 = Adjusts Capex for Items “Fixed Concession Payments” and “IAS23 Borrowing Cost” 3 = OCF – IFRS 16 – Capex + Dividends from at equity investments › 2Q26 OCF of EUR 193mn below PY due to WC changes, higher net interest paid and higher tax payments → see next slide › Quarterly Brick-and-Mortar Capex2 down by 8% to EUR c.244mn › Net Debt up by 2% in 2Q26, a.o. driven by F/X headwind on Peruvian and Brazilian Net Debt as well as dividend payment of EUR 92mn › Net Debt/LTM EBITDA improved to 6.0x; Gearing down to 168% -84
Page 9
9 2Q26 Presentation, August 2026 CASH FLOW 2Q FCF NEGATIVE ON CALENDAR EFFECTS 2Q25 FCF: 29mn +2mn: OCF +21mn: Reduced Capex 2Q26 -10mn: More Interest Paid -5mn: Less Interest Received -15mn: Less Dividends Received -14mn: More Taxes Paid18mn Local Business Tax for Previous Years -66mn: Higher Working CapitalMainly Calendar Effect 2Q26 FCF: -59mn -66mn: Working Capital - 66mn: Worki ng Capita l -24mn from higher Receivables -59mn from lower Trade acc. Payables +15mn from lower Provision Settlements +2mn from lower Inventories Build up on strong Greek traffic & lower VAT use on Construction slow-down Higher Payments in PY nmf. o/w 30mn: higher payments in FRA/LIM plus Calendar Effect in 2Q25 Intermediate Total ex. Calendar Effect: +22mn Note: Due to commercial rounding discrepancies may occur when summing up
Page 10
3,439 12,131 609 1.131 1.303 1.143 1.105 1.272 1.414 1.190 189 25 290 28 36 42 49 54 48 49 54 60 64 484 10 21 22 23 21 23 26 28 30 33 1171.008 - - 9 9 9 9 5 0 1.000 2.000 3.000 4.000 5.000 6.000 7.000 8.000 9.000 10.000 11.000 12.000 13.000 Liquidity as of June 30, 2026 Financial Liabilities 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036++ 10 2Q26 Presentation, August 2026 AVAILABLEFUNDS & REPAYMENTPROFILE WELL BALANCED MATURITY PROFILE €1.0 bn Greece debt Average debt condition ~ 3.5% interest rate € 357 mn Brazil debt €9.8 bn Fraport AG debt € 1.0 bn Lima debt 4,007 1 Liquidity + Committed Credit Lines & Finance Jun. 30, 2025 break down: Frankfurt 2,793mn + 447mn CL; Greece: 257mn; Lima 54mn + 119mn CL; Brasil 74mn + 34mn CL; Other: 318mn 1
Page 11
11 2Q26 Presentation, August 2026 SEGMENT AVIATION FRA TRAFFIC TRANSLATES INTO LOWER REVENUE AND EBITDA EUR mn 2Q26 2Q25 Revenue 342 349 Charges 261 263 Security 67 76 Other Income 11 11 Staff Cost 86 78 Other1 165 162 EBITDA 102 120 D&A 59 37 EBIT 43 83 ▪ FY26 to benefit from 3.9 % increase in airport fees but directly impacted by slowing traffic momentum ▪ OPEX inflation due to T3 inauguration and wage increase ▪ EBITDA expected in the mid- to high-single digit percentage area below PY level Outlook 1 Other defined as balance of non-staff cost and intersegment cost & revenue Note: Due to commercial rounding discrepancies may occur when summing up, % changes based on unrounded figures ▪ Despite -3% decrease in traffic volumes and lower security charges per PAX, revenue 2% below PY due to 3.9% higher prices ▪ Personnel expenses up 11% mainly due to wage drift and structural effects ▪ Other Opex EUR c.3 mn EUR above PY, a.o. driven by T3 commissioning ▪ EBITDA below PY at EUR 102 mn, driven by topline developments and Opex growth ▪ Increase in D&A due to Terminal 3 commissioning
Page 12
12 2Q26 Presentation, August 2026 SEGMENT RETAIL & REAL ESTATE CONSTANT EBITDA DRIVEN BY PARKING AND REAL ESTATE EUR mn 2Q26 2Q25 Revenue 142 140 Retail 49 51 Real Estate 55 52 Parking 31 29 Other Income 3 4 Staff Cost 18 15 Other1 28 29 EBITDA 100 100 D&A 31 24 EBIT 69 76 ▪ Positive effect on FY26 figures from higher expected commercial turnover and price adjustments ▪ OPEX inflation due to T3 inauguration and wage increase EBITDA to remain on 2025 level or slightly above Outlook 1 Other defined as balance of non-staff cost and intersegment cost & revenue Note: Due to commercial rounding discrepancies may occur when summing up, % changes based on unrounded figures ▪ Segment revenues increased by c.2% despite lower passenger numbers ▪ Retail revenues per pax in 2Q26 stable vs. 2Q25 at EUR 3.17, driven by positive T3 effect, despite lower number of high value customers → see next slide ▪ Real Estate and Parking with solid c.4 % and c.6% revenue increase, respectively, a. o. due to indexation and price adjustments ▪ Personnel expenses up EUR c.2 mn mainly due to wage drift and structural effects ▪ EBITDA on PY level with EBIT down due to higher D&A for T3
Page 13
13 SEGMENT RETAIL & REAL ESTATE RETAIL REVENUES PER PASSENGER DEVELOPMENT 3,41 3,17 3,06 3,61 3,293,33 3,17 1Q 2Q 3Q 4Q FY 2025 Shopping & Services € p. Pax Advertising € p. Pax 2.57 2.42 0.60 0.75 EUR 2026 2.31 0.74 Despite F/X and negative Pax Structure → Flat SPP due to Good T3 Spend and Strong 2Q Advertising 2.82 2.71 0.59 0.62 2.91 0.70 2.63 0.66 2Q26 Presentation, August 2026
Page 14
14 2Q26 Presentation, August 2026 SEGMENT GROUND HANDLING REVENUE INCREASE DESPITE NEGATIVE TRAFFIC MOMENTUM EUR mn 2Q26 2Q25 Revenue 233 225 Ground Hand. 122 118 Central Infra. 106 102 Other Income 2 3 Staff Cost 164 159 Other1 68 56 EBITDA 4 13 D&A 15 10 EBIT -11 3 ▪ FY26 to benefit from increase in charges and prices but directly impacted by slowing traffic momentum ▪ OPEX inflation due to T3 inauguration and wage increase ▪ Positive EBITDA expected to reach about the level of FY25 Outlook 1 Other defined as balance of non-staff cost and intersegment cost & revenue Note: Due to commercial rounding discrepancies may occur when summing up, % changes based on unrounded figures ▪ Segment revenues up by c.4%, reflecting price adjustments that compensate for lower traffic numbers ▪ Underlying Staff Cost increase by c.10 % from higher FTE numbers, wage drift and structural effects ▪ Adjusted for 2Q25 EUR 17 mn one-off (positive effect), Other Opex decreasing by EUR c.5mn, mainly due to the reduction in external personnel ▪ EBITDA of EUR c.4mn (vs. 2Q25 underlying EBITDA of EUR c.7mn) ▪ Higher D&A due to T3 commissioning
Page 15
15 2Q26 Presentation, August 2026 SEGMENT INTERNATIONAL ACTIVITIES & SERVICES STRONG FINANCIAL DEVELOPMENT IN PRE-SEASON QUARTER EUR mn 2Q26 2Q25 Revenue 470 409 IFRIC 12 60 37 ex. IFRIC 12 411 372 Other Income 16 3 Staff Cost 108 101 Other ex. IFRIC121 138 124 EBITDA 181 151 D&A 75 60 EBIT 106 91 ▪ FY26 to benefit from continued traffic growth and price effects, esp. in Greece and Brazil ▪ Currency effects may impact FY26 financials ▪ Solid EBITDA growth in the mid- to high-single digit percentage area expected Outlook 1 Other defined as balance of non-staff cost and intersegment cost & revenue Note: Due to commercial rounding discrepancies may occur when summing up, % changes based on unrounded figures ▪ Underlying Revenues increase by c.10%, primarily due to operational performance in Lima, Greece and Brazil ▪ Other Income reflects one-off reimbursement claim in Lima of EUR c.9mn ▪ Higher staff cost of 6.5% mainly due to wage increases ▪ Underlying Other Opex increase by 12%, mainly due to higher variable concession charges in Lima and Greece ▪ Strong EBITDA increase of EUR 30mn ▪ Despite higher D&A in LIM, EBIT EUR +15mn
Page 16
Fraport AG 2026 OUTLOOK FRANKFURT TRAFFIC GUIDANCE ADJUSTED I FINANCIALS UNCHANGED 2Q26 Presentation, August 202616 Group Passengers growth over 2025 2025: 183.7Mn EBITDA Up to c.1.5Bn 2025: EUR c.1.44Bn Group Result 300-400Mn 2025: EUR c.468Mn DPS for 25FY EUR 1.00 2024: EUR - Net Debt/EBITDA Improvement 2025: 5.7x FRA Passengers about FY25 level 2025: 63.2Mn
Page 17
Um den Bildhintergrund zu ändern, verschieben Sie die Verlaufsfläche so weit, dass die Mitte des Bildes frei liegt. Wählen Sie ein neues aus, indem Sie auf das Icon in der Mitte des Platzhalters klicken. Anschließend klicken Sie auf „Zurücksetzen“ in der Registerkarte „Start“. IR Contact T: +49 69 690 - 74840 F: +49 69 690 - 74843 M: investor.relations@fraport.de www.meet-ir.com THANK YOU FOR YOUR ATTENTION!
Page 18
Fraport AG APPENDICES 2Q26 Presentation, August 202618
Page 19
Fraport AG APPENDICES PASSENGER TRAFFIC 2Q26 Presentation, August 202619 Passengers 2026 fully consolidated airports YTD January February March Q1 April May June Q2 H1 abs. D in % abs. D in % abs. D in % abs. D in % abs. D in % abs. D in % abs. D in % abs. D in % abs. D in % abs. D in % FRA Frankfurt 28,896,478 -0.8 4,132,165 4.9 3,851,218 0.0 4,721,399 2.1 12,704,78 2 2.3 4,753,732 -11.0 5,744,432 2.7 5,693,532 -1.7 16,191,696 -3.2 28,896,478 -0.8 LJU Ljubljana 790,238 14.7 87,672 20.8 95,121 17.2 110,615 17.0 293,408 18.2 143,799 14.5 168,820 11.2 184,211 12.7 496,830 12.7 790,238 14.7 Fraport Brasil 6,969,096 11.8 1,326,007 21.8 1,066,726 19.6 1,160,081 18.5 3,552,814 20.0 1,093,335 5.3 1,169,218 6.0 1,153,729 2.0 3,416,282 4.4 6,969,096 11.8 FOR Fortaleza 2,980,602 3.3 643,699 12.9 478,708 15.4 487,370 12.3 1,609,777 13.4 436,213 -4.7 453,701 -8.7 480,911 -6.1 1,370,825 -6.6 2,980,602 3.3 POA Porto Alegre 3,988,494 19.2 682,308 31.5 588,018 23.2 672,711 23.4 1,943,037 26.1 657,122 13.2 715,517 18.0 672,818 8.8 2,045,457 13.3 3,988,494 19.2 LIM Lima 12,568,723 1.1 2,200,447 1.3 2,026,930 4.1 2,136,302 1.7 6,363,679 2.3 1,995,990 -3.1 2,205,650 1.9 2,003,404 0.9 6,205,044 0.0 12,568,723 1.1 Fraport Regional Airports of Greece A+B 13,650,938 5.4 717,808 8.1 720,596 9.1 889,052 6.9 2,327,456 7.9 1,811,655 3.2 3,913,581 6.0 5,598,246 4.7 11,323,482 4.9 13,650,938 5.4 Fraport Regional Airports of Greece A 8,193,123 6.8 563,798 7.8 561,266 8.4 667,653 5.4 1,792,717 7.1 1,133,304 6.4 2,180,741 8.4 3,086,361 5.8 6,400,406 6.8 8,193,123 6.8 CFU Kerkyra (Corfu) 1,548,494 8.5 13,592 36.8 24,277 4.8 38,826 30.2 76,695 21.9 189,508 10.9 493,900 10.8 788,391 5.5 1,471,799 7.9 1,548,494 8.5 CHQ Chania (Crete) 1,620,358 11.4 68,705 7.7 69,714 15.3 83,693 9.7 222,112 10.8 232,002 16.5 505,467 16.0 660,777 6.8 1,398,246 11.5 1,620,358 11.4 EFL Kefalonia 280,494 4.0 3,629 -2.4 3,186 5.9 4,453 14.9 11,268 6.3 12,704 -16.1 86,394 2.2 170,128 6.6 269,226 3.9 280,494 4.0 KVA Kavala 107,515 3.2 8,160 396.0 7,716 32.6 7,925 18.2 23,801 68.0 9,757 -8.2 23,919 -3.6 50,038 -8.4 83,714 -7.0 107,515 3.2 PVK Aktio/Prevezka 266,422 5.7 430 64.1 296 37.7 571 19.5 1,297 35.8 9,698 -7.3 87,900 6.5 167,527 6.0 265,125 5.6 266,422 5.7 SKG Thessaloniki 3,656,626 4.9 465,326 5.8 454,231 7.1 526,741 2.9 1,446,298 5.1 646,929 3.1 729,491 2.4 833,908 8.0 2,210,328 4.7 3,656,626 4.9 ZTH Zakynthos 713,214 5.6 3,956 4.3 1,846 55.4 5,444 19.5 11,246 17.9 32,706 1.6 253,670 12.2 415,592 2.0 701,968 5.4 713,214 5.6 Fraport Regional Airports of Greece B 5,457,815 3.4 154,010 9.3 159,330 11.7 221,399 11.7 534,739 11.0 678,351 -1.6 1,732,840 3.2 2,511,885 3.4 4,923,076 2.6 5,457,815 3.4 JMK Mykonos 482,343 6.5 7,129 6.3 7,409 69.5 12,108 -5.4 26,646 11.6 39,518 -14.9 148,611 16.2 267,568 5.1 455,697 6.3 482,343 6.5 JSI Skiathos 196,830 10.7 1,303 9.4 1,188 6.7 1,775 7.2 4,266 7.7 4,667 34.9 54,837 10.3 133,060 10.3 192,564 10.8 196,830 10.7 JTR Santorini (Thira) 873,142 7.8 22,218 19.0 31,773 27.0 51,864 29.2 105,855 26.3 150,478 16.4 256,780 2.7 360,029 3.8 767,287 5.7 873,142 7.8 KGS Kos 982,931 -1.7 22,455 6.1 20,253 13.6 24,691 11.3 67,399 10.2 63,948 -17.3 352,649 -1.4 498,935 -1.0 915,532 -2.5 982,931 -1.7 MJT Mytilene (Lesvos) 243,004 2.4 26,058 4.5 24,019 5.5 27,432 -0.6 77,509 3.0 37,108 3.0 54,561 5.9 73,826 -0.9 165,495 2.1 243,004 2.4 RHO Rhodes 2,480,306 2.3 62,552 11.6 62,455 4.7 89,859 10.7 214,866 9.2 362,207 -4.2 810,189 2.0 1,093,044 3.6 2,265,440 1.7 2,480,306 2.3 SMI Samos 199,259 12.3 12,295 0.2 12,233 2.8 13,670 8.6 38,198 4.0 20,425 6.0 55,213 17.2 85,423 15.0 161,061 14.5 199,259 12.3 Fraport Twin Star 1,227,914 8.8 92,263 16.2 79,968 11.4 91,770 19.6 264,001 15.8 117,574 -8.2 252,375 13.3 593,964 8.0 963,913 7.0 1,227,914 8.8 BOJ Burgas 423,921 -8.9 0 -100 0 -100 0 -100 0 -100 64 -99.7 99,454 13.6 324,403 -0.4 423,921 -1.9 423,921 -8.9 VAR Varna 803,993 21.2 92,263 43.1 79,968 36.9 91,770 27.1 264,001 35.4 117,510 7.8 152,921 13.0 269,561 20.2 539,992 15.2 803,993 21.2 At equity consolidated airports AYT Antalya 13,622,948 -5.5 1,072,089 7.4 865,187 -3.8 1,170,600 10.3 3,107,876 5.0 2,318,637 -10.3 3,702,213 -5.0 4,494,222 -9.6 10,515,072 -8.2 13,622,948 -5.5
Page 20
Fraport AG20 2Q26 Presentation, August 2026 APPENDICES GROUP P+L EUR mn 6M 2025 6M 2026 Q2 2025 Q2 2026 Revenue 1,990.0 2,069.1 1,121.5 1,187.0 Other internal work capitalized 35.1 37.1 17.9 17.6 Other operating income 9.8 22.4 3.7 15.6 Total revenue 2,034.9 2,128.6 1,143.1 1,220.2 Cost of materials –720.9 –740.8 –376.6 –415.0 Personnel expenses –675.9 –718.4 –352.5 –375.3 Other operating expenses –76.9 –87.1 –30.3 –43.6 EBITDA 561.2 582.3 383.7 386.3 Depreciation and amortization –254.8 –318.8 –129.4 –179.1 EBIT/Operating result 306.4 263.5 254.3 207.2 Interest income 64.4 60.5 30.6 30.8 Interest expenses –179.1 –222.3 –94.9 –131.6 Result from companies accounted for using the equity method –55.1 –33.0 –13.3 8.5 Other financial result 2.4 0.1 –1.8 –1.9 Financial result –167.4 –194.7 –79.4 –94.2 EBT/Result from ordinary operations 139.0 68.8 174.9 113.0 Taxes on income –40.4 –17.2 –49.9 –28.3 Group result 98.6 51.6 125.0 84.7 thereof profit attributable to non-controlling interests 3.8 0.4 13.9 15.6 thereof profit attributable to shareholders of Fraport AG 94.8 51.2 111.1 69.1 Earnings per €10 share in € basic 1.03 0.55 1.20 0.75 diluted 1.03 0.55 1.20 0.75
Page 21
Fraport AG21 2Q26 Presentation, August 2026 APPENDICES GROUP CASH FLOW EUR mn 6M 2025 6M 2026 Result attributable to shareholders of Fraport AG 94.8 51.2 Result attributable to non-controlling interests 3.8 0.4 Adjustments for Taxes on income 40.4 17.2 Depreciation and amortization 254.8 318.8 Interest result 114.7 161.8 Gains/losses from disposal of non-current assets 1.0 –0.7 Others –8.5 –6.8 Changes in the measurement of companies accounted for using the equity method 55.1 33.0 Changes in inventories –3.1 0.8 Changes in receivables and financial assets –91.5 –123.0 Changes in liabilities 23.3 –48.7 Changes in provisions –47.2 –26.0 Operating activities 437.6 378.0 Financial activities Interest paid –147.3 –191.3 Interest received 62.3 53.1 Paid taxes on income –28.0 –46.0 Cash flow from operating activities 324.6 193.8 EUR mn 6M 2025 6M 2026 Cash flow used in/from operating activities 324.6 193.8 Investments in airport operating projects –180.2 –137.7 Capital expenditure for other intangible assets –4.4 –2.4 Capital expenditure for property, plant, and equipment –467.9 –404.2 Capital expenditure for "Investment property" –1.6 –7.5 Investments in companies acc. for using the equity method –1.0 –3.3 Sale of shares in other investments 104.3 0.0 Dividends from companies accounted for using the equity method 28.3 13.0 Proceeds from disposal of non-current assets 0.3 2.1 Cash flow used in investing activities excluding investments in cash deposits and securities –522.2 –540.0 Financial investments in securities & prom. note loans –360.4 –376.4 Proceeds from disposal of securities & prom. note loans 519.0 422.8 Change of time deposits with term of 3+ months –84.9 237.5 Cash flow used in investing activities –448.5 –256.1 Dividends paid to shareholders of Fraport AG 0.0 –92.5 Dividends paid to non-controlling interests –20.6 –10.2 Capital increase non-controlling interests 4.0 0.0 Cash inflow from long-term financial liabilities 441.2 535.9 Repayment of long-term financial liabilities –509.2 –670.8 Changes in current financ. liabilities & oth. financing act. –137.6 137.6 Cash flow used in/from financing activities –222.2 –100.0 Change in cash and cash equivalents –346.1 –162.3 Cash and cash equivalents as at January 1 950.5 787.9 F/X currency translation effects on cash & cash equiv. –15.3 10.8 Cash and cash equivalents as at June 30 589.1 636.4
Page 22
Fraport AG22 2Q26 Presentation, August 2026 APPENDICES GROUP FINANCIAL POSITION EUR mn Dec 31, 2025 Jun 30, 2026 Non-current assets Goodwill 19.3 19.3 Investments in airport operating projects 4.414.2 4.489.0 Other intangible assets 97.2 95.8 Property, plant and equipment 10.567.5 10,749.3 Investment property 80.3 86.4 Investments in companies accounted for using the equity method 478.4 431.9 Other financial assets 682.1 843.7 Other financial receivables and assets 93.2 114.1 Other non-financial receivables and assets 81.8 75.4 Deferred tax assets 87.0 99.5 16,601.0 17,004.4 Current assets Inventories 29.4 28.8 Trade accounts receivable 280.8 425.3 Other current financial assets 572.1 361.7 Other current financial receivables and assets 107.6 109.0 Other current non-financial receivables and assets 127.7 115.6 Income tax receivables 27.8 42.4 Cash and cash equivalents 2,737.9 2,348.9 3,883.3 3,431.7 Non-current assets held for sale 0.0 11.4 Total 20,484.3 20,447.5 EUR mn Dec 31, 2025 Jun 30, 2026 Shareholders’ equity Issued capital 924.7 924.7 Capital reserve 602.4 602.4 Revenue reserves 3,654.1 3,659.5 Equity attributable to shareholders of Fraport AG 5,181.2 5,186.6 Non-controlling interests 336.8 333.5 5,518.0 5,520.1 Non-current liabilities Financial liabilities 10,794.0 10,934.6 Trade accounts payable 80.6 88.1 Other financial liabilities 1,154.3 1,173.7 Other non-financial liabilities 67.0 65.8 Deferred tax liabilities 201.1 199.9 Provisions for pensions and similar obligations 35.0 30.9 Provisions for income taxes 27.9 27.7 Other provisions 127.7 126.2 12,487.6 12,646.9 Current liabilities Financial liabilities 1,272.5 1,196.1 Trade accounts payable 392.9 325.7 Other current financial liabilities 180.2 168.8 Other current non-financial liabilities 281.1 271.0 Provisions for income taxes 119.3 109.0 Other provisions 232.7 209.9 2,478.7 2,280.5 Total 20,484.3 20,447.5
Page 23
Fraport AG23 2Q26 Presentation, August 2026 APPENDICES EBITDA GROWTH, NET RESULT IMPACTED BY ACCOUNTING EFFECTS FROM TERMINAL OPENINGS Revenues EUR 2,069mn Ex. IFRIC 12: EUR 1,981 mn, +5% vs. 1H25 EBITDA EUR 582mn +4% vs. 1H25 EBIT1 EUR 264mn -14% vs. 1H25 Group Result EUR 52mn -48% vs. 1H25 Financial Result2 EUR -195mn -27mn vs. 1H25 1 1H26 negatively impacted by higher D&A after inauguration of Terminal 3 in Frankfurt on April 23rd, 2026 2 1H25 negatively impacted by the net result share of Antalya Airport, due to F/X and other special items 1H26 negatively impacted by higher interest expenses due to lower capitalized borrowing costs after inauguration of Terminal 3 in Frankfurt on April 23rd, 2026
Page 24
Fraport AG24 2Q26 Presentation, August 2026 APPENDICES – SEGMENT AVIATION SLOWING TRAFFIC MOMENTUM IN FRA WEIGHS ON EBITDA EUR mn 1H26 1H25 Revenue 622 619 Charges 476 465 Security 123 133 Other Income 24 23 Staff Cost 165 153 Other1 333 325 EBITDA 148 164 D&A 96 75 EBIT 51 89 1 Other defined as balance of non-staff cost and intersegment cost & revenue Note: Due to commercial rounding discrepancies may occur when summing up, % changes based on unrounded figures ▪ Despite slight decrease in traffic volumes and lower security charges per PAX, revenue up <1% vs. PY due to higher prices ▪ Personnel expense up 8% mainly due to wage drift effects ▪ Other Opex EUR c.8mn above PY, a.o. driven by T3 commissioning ▪ EBITDA below PY at EUR 148 mn, driven by topline developments and Opex growth ▪ Increase in D&A due to Terminal 3 commissioning ▪ FY26 to benefit from 3.9 % increase in airport fees but directly impacted by slowing traffic momentum ▪ OPEX inflation due to T3 inauguration and wage increase ▪ EBITDA expected in the mid- to high-single digit percentage area below PY level Outlook
Page 25
Fraport AG25 2Q26 Presentation, August 2026 APPENDICES – SEGMENT RETAIL & REAL ESTATE BUSINESS DEVELOPMENT DRIVEN BY PARKING AND REAL ESTATE EUR mn 1H26 1H25 Revenue 267 262 Retail 89 91 Real Estate 107 102 Parking 58 56 Other Income 9 9 Staff Cost 33 30 Other1 58 58 EBITDA 186 183 D&A 54 47 EBIT 132 136 1 Other defined as balance of non-staff cost and intersegment cost & revenue Note: Due to commercial rounding discrepancies may occur when summing up, % changes based on unrounded figures ▪ Segment revenues increased by c.2% despite slightly lower passenger numbers ▪ Retail revenues per pax in 1H26 at EUR 3.24, 3 cents below 1H25 after weak 1Q26, 2Q trend driven by positive T3 effect, despite reduced traffic volumes and lower number of high value customers ▪ Real Estate and Parking with solid c.4 % revenue increase, each, a. o. due to indexation and price adjustments ▪ Personnel expenses up EUR c.3 mn mainly due to wage drift effects ▪ EBITDA slightly above PY level with EBIT slightly down due to higher D&A for T3 ▪ Positive effect on FY26 figures from higher expected commercial turnover and price adjustments ▪ OPEX inflation due to T3 inauguration and wage increase EBITDA to remain on 2025 level or slightly above Outlook
Page 26
Fraport AG26 2Q26 Presentation, August 2026 APPENDICES – SEGMENT GROUND HANDLING EBITDA INCREASE DESPITE LOWER TRAFFIC AND ONE-OFFS IN PY EUR mn 1H26 1H25 Revenue 429 405 Ground Hand. 221 208 Central Infra. 197 187 Other Income 6 7 Staff Cost 310 296 Other1 126 121 EBITDA -2 -5 D&A 24 19 EBIT -26 -24 1 Other defined as balance of non-staff cost and intersegment cost & revenue Note: Due to commercial rounding discrepancies may occur when summing up, % changes based on unrounded figures ▪ Segment revenues up by c.6%, reflecting increasing market share and price adjustments that compensate for lower traffic numbers ▪ Adjusted for 2Q25 EUR 11 mn one-off (negative effect), Staff Cost increase by c.9 % from higher FTE numbers and wage drift effects ▪ Adjusted for 2Q25 EUR 17 mn one-off (positive effect), Other Opex decreasing by EUR c.12mn, mainly due to the reduction in external personnel ▪ EBITDA of EUR c.-2mn (vs. 1H25 underlying EBITDA of EUR c.-11mn) ▪ Higher D&A due to T3 commissioning ▪ FY26 to benefit from increase in charges and prices but directly impacted by slowing traffic momentum ▪ OPEX inflation due to T3 inauguration and wage increase ▪ Positive EBITDA expected to reach about the level of FY25 Outlook
Page 27
Fraport AG27 2Q26 Presentation, August 2026 APPENDICES – SEGMENT INTL. ACTIVITIES & SERVICES OPERATIONAL STRENGTH ABROAD REFLECTED IN FINANCIALS EUR mn 1H26 1H25 Revenue 751 703 IFRIC 12 88 94 ex. IFRIC 12 663 609 Other Income 21 7 Staff Cost 210 197 Other ex. IFRIC121 223 199 EBITDA 251 220 D&A 145 115 EBIT 106 105 1 Other defined as balance of non-staff cost and intersegment cost & revenue Note: Due to commercial rounding discrepancies may occur when summing up, % changes based on unrounded figures ▪ Underlying Revenues increase by c.9%, primarily due to operational performance in Lima, Greece and Brazil ▪ Other Income reflects one-off reimbursement claim in Lima of EUR c.9mn ▪ Higher staff cost of c.7% mainly due to wage increases ▪ Underlying Other Opex increase by 12%, especially due to higher variable concession charges ▪ Strong EBITDA increase of EUR 31mn ▪ Despite higher D&A in LIM, EBIT on PY level ▪ FY26 to benefit from continued traffic growth and price effects, esp. in Greece and Brazil ▪ Currency effects may impact FY26 financials ▪ Solid EBITDA growth in the mid- to high-single digit percentage area expected Outlook
Page 28
Fraport AG28 2Q26 Presentation, August 2026 APPENDICES NET DEBT INCREASE DUE TO NEGATIVE H1 FCF, DIVI AND F/X Divs from at equity companies EUR mn +194 -45 -47 FRA T3 Greece Capex Brazil Capex Other Net Debt 30.06.2026 -10 Free Cash Flow 1H26: € -368mn 8,191 Other Capex mostly FRA Lima Capex Fixed Concession Payments -127 -20 IFRS 16OCFNet Debt YE 2025 -42 -3 -2811 IAS 23 Borrowing Cost 8,692+13 Comments € mil. 1H26 1H25 % Operating cash flow 194 325 -40 Capex1 555 655 -15 Brick-and-Mortar Capex2 466 534 -13 Free Cash Flow 3 -368 -325 - Net Debt 8,692 8,528 +2 Net Debt / LTM EBITDA 6.0 6.6 -0.6x Equity 5,187 5,140 +1 Gearing ratio 168 177 -9PP 1 = Capex in airport op. projects, other intangible assets, PPE, investment property, and at equity investments. No consideration of one-time payments for acquisitions / equity injections to acquire 2 = Adjusts Capex for Items “Fixed Concession Payments” and “IAS23 Borrowing Cost” 3 = OCF – IFRS 16 – Capex + Dividends from at equity investments › 1H26 OCF of EUR 194mn below PY due to WC changes, higher net interest paid and higher tax payments › Half-year Brick-and-Mortar Capex2 down by 13% to EUR c.466mn › Net Debt up by 2% as of Jun 30, 2026 (vs. PY), a.o. driven by F/X headwind on Peruvian and Brazilian Net Debt as well as dividend payment of EUR 92mn › Leverage Ratios in line with expectations -1332 1 incl. EUR 31mn for RWY refurbishment in Bulgaria 2 thereof EUR 92.5mn from dividends to shareholders of Fraport AG
Page 29
Fraport AG29 2Q26 Presentation, August 2026 APPENDICES MAJOR SPECIAL ITEMS 2025/26 1Q 2025 Group Financial Result / Antalya EUR - 3.9 mn EBITDA: Negative DTF Impact EUR -16.9 mn Net Result: F/X driven effect from deferred taxes 2Q 2025 Ground Handling EUR -10.5 mn higher Staff Cost: Supplementary Pension Costs EUR +16.8 mn lower Other Opex: Reversal of provisions Group Financial Result / Antalya EUR - 3.1 mn EBITDA: Negative DTF Impact EUR -10.6 mn Financial Result: „Day 1 loss“ on Hedging of Project Finance EUR -29.3 mn Net Result: F/X driven effect from deferred taxes 3Q 2025 Aviation EUR +14 mn lower Staff Cost: Payback of Supplementary Pension Costs Retail& Real Estate EUR +4mn lower Staff Cost: Payback of Supplementary Pension Costs Ground Handling EUR +16 mn lower Staff Cost: Payback of Supplementary Pension Costs International Activities / Services EUR +15 mn lower Staff Cost: Payback of Supplementary Pension Costs 4Q 2025 International Activities / Fraport Brasil EUR +17.3 mn Other Income: Rebalance Economic Equilibrium Ground Handling EUR -5.8 mn higher Staff Cost: Supplementary Pension Costs EUR -11.2 mn higher Other Opex: Provision for compensation payments 1Q 2026 No special items recorded 2Q 2026 International Activities / Lima EUR +9.3 mn Other Income: reimbursement claim International Activities / Fraport USA EUR +3.8 mn EBITDA: Reversal of provisions
Page 30
Fraport AG30 2Q26 Presentation, August 2026 APPENDICES BRICK-AND-MORTAR CAPEX Historic Investment & 2026 Outlook EUR mn 2018 2019 2020 2021 2022 2023 2024 2025 2026e Terminal 3 155 369 536 603 542 593 750 488 250 Lima 48 94 101 197 329 460 485 153 100-150 Greece 78 191 97 27 9 14 22 35 -* Brasil 164 240 44 27 12 20 24 21 -* Other 316 387 326 267 187 330 449 435 Up to 500 t/o FRA 298 363 303 246 176 295 424 365 Up to 400 t/o RoW 18 24 23 21 11 35 25 70 Up to 100 * No specific guidance given, capex included in RoW
Page 31
Fraport AG31 2Q26 Presentation, August 2026 APPENDICES D+A AND INTEREST DETAILS EUR mn 19FY 20FY 21FY 22FY 23FY 24FY 25FY Depreciation & Amortization 475 458 443 465 501 532 552 of which IFRS16 related 1 45 45 38 41 37 36 39 of which IFRIC12 related 2 84 94 106 116 134 139 175 of which other D&A 346 319 299 308 330 357 338 Interest Expenses 197 193 269 314 318 349 344 of which IFRS16 related 1 12 11 9 9 7 6 9 of which IFRIC12 related 2 55 55 75 86 69 71 71 of which other Interest Expenses 175 163 226 263 313 394 410 of which cap. borrowing cost (IAS 23) -46 -36 -41 -44 -71 -121 -146 1 IFRS 16 specifies how leases are recognized, measured, presented, and disclosed. Based on the application of IFRS 16, depreciation charges and interest ex penses incurred. 2 IFRIC 12 specifies how service concession arrangement are recognized, measured, presented, and disclosed. Based on the application of IFRIC 12, depreciation charges and interest e xpenses incurred. Frankfurt Terminal 3 & Lima Terminal Construction Progress reflected in increased amount of capitalized borrowing cost
Page 32
Fraport AG32 2Q26 Presentation, August 2026 APPENDICES D+A AND INTEREST DETAILS 1 IFRS 16 specifies how leases are recognized, measured, presented, and disclosed. Based on the application of IFRS 16, depreciation charges and interest ex penses incurred. 2 IFRIC 12 specifies how service concession arrangement are recognized, measured, presented, and disclosed. Based on the application of IFRIC 12, depreciation charges and interest e xpenses incurred. Frankfurt Terminal 3 & Lima Terminal Construction Progress reflected in increased amount of capitalized borrowing cost Significant Reduction after Inauguration of Terminal 3 in 2Q26 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 D&A 130 129 127 147 125 129 143 154 140 179 o/w IFRS 16 9 9 9 9 10 9 10 10 9 9 o/w IFRIC 12 36 35 34 34 34 39 51 51 50 54 o/w other 85 85 84 104 81 81 82 93 81 116 Interest exp. 90 89 88 82 84 95 94 72 91 132 o/w IFRS 16 2 2 2 1 1 2 3 3 3 3 o/w IFRIC 12 20 17 17 16 20 21 16 14 19 23 o/w other 93 98 102 101 102 104 101 104 104 112 IAS 23 -24 -29 -32 -37 -39 -32 -26 -49 -36 -6 Significant increase in D/A after Inauguration of Frankfurt Terminal 3 in 2Q26
Page 33
Fraport AG33 2Q26 Presentation, August 2026 APPENDICES AVIATION SEGMENT EUR mn 1Q19 2Q19 3Q19 4Q19 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Revenue 225 270 288 244 266 320 344 305 270 349 382 341 280 342 Charges 175 215 234 193 195 239 265 227 202 263 290 253 215 261 Security 39 42 42 39 59 70 66 67 58 76 81 77 56 67 Oth. Inc. 7 8 10 8 12 10 11 13 12 11 11 14 12 11 Staff Cost 90 98 94 92 65 71 70 70 75 78 61 75 79 86 Other1 104 96 101 112 156 151 155 170 164 162 170 185 168 165 EBITDA 38 84 103 48 57 109 130 78 43 120 162 96 45 102 1Q19 2Q19 3Q19 4Q19 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 PAX mn 14.8 18.8 20.5 16.4 12.5 15.5 18.0 14.8 12.4 16.7 18.4 15.6 12.7 16.2 MOV 117k 136k 140k 121k 95k 112k 121k 108k 96k 122k 128k 113k 96k 115k MTOW mn 7.3 8.3 8.7 7.6 6.1 6.9 7.6 6.8 6.2 7.5 7.8 7.0 6.1 7.1 1 Other defined as balance of non-staff cost and intersegment cost & revenue Note: Due to commercial rounding discrepancies may occur when summing up, % changes based on unrounded figures
Page 34
Fraport AG 1Q19 2Q19 3Q19 4Q19 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 PAX mn 14.8 18.8 20.5 16.4 12.5 15.5 18.0 14.8 12.4 16.7 18.4 15.6 12.7 16.2 MOV 117k 136k 140k 121k 95k 112k 121k 108k 96k 122k 128k 113k 96k 115k MTOW mn 7.3 8.3 8.7 7.6 6.1 6.9 7.6 6.8 6.2 7.5 7.8 7.0 6.1 7.1 34 2Q26 Presentation, August 2026 APPENDICES RETAIL & REAL ESTATE SEGMENT EUR mn 1Q19 2Q19 3Q19 4Q19 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Revenue 116 125 131 136 119 133 140 145 123 140 145 144 126 142 Real Est. 41 42 44 43 49 50 53 53 50 52 54 54 52 55 Retail 49 56 58 59 40 48 52 58 40 51 54 54 40 49 Parking 25 25 27 23 24 28 29 27 26 29 31 28 27 31 Oth. Inc. 15 3 6 2 4 4 5 4 5 4 5 9 6 3 Staff Cost 15 15 14 14 13 14 14 14 15 15 11 17 16 18 Other1 15 17 16 30 27 26 31 40 30 29 26 46 30 28 EBITDA 101 96 107 94 83 97 100 95 83 100 113 91 86 100 1 Other defined as balance of non-staff cost and intersegment cost & revenue Note: Due to commercial rounding discrepancies may occur when summing up, % changes based on unrounded figures
Page 35
Fraport AG 1Q19 2Q19 3Q19 4Q19 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 PAX mn 14.8 18.8 20.5 16.4 12.5 15.5 18.0 14.8 12.4 16.7 18.4 15.6 12.7 16.2 MOV 117k 136k 140k 121k 95k 112k 121k 108k 96k 122k 128k 113k 96k 115k MTOW mn 7.3 8.3 8.7 7.6 6.1 6.9 7.6 6.8 6.2 7.5 7.8 7.0 6.1 7.1 35 2Q26 Presentation, August 2026 APPENDICES GROUND HANDLING SEGMENT EUR mn 1Q19 2Q19 3Q19 4Q19 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Revenue 161 184 192 170 160 194 206 186 181 225 235 216 196 233 G. Services 81 93 99 86 80 96 102 92 90 118 123 114 99 122 Centr. Infr. 72 85 87 77 75 93 99 89 84 102 108 97 90 106 Oth. Inc. 2 2 3 2 3 3 3 3 4 3 3 4 3 2 Staff Cost 115 122 118 114 115 127 126 145 138 159 128 152 147 164 Other1 43 46 51 47 68 74 74 69 64 56 73 77 58 68 EBITDA 5 18 26 11 -20 -4 9 -25 -18 13 37 -9 -6 4 1 Other defined as balance of non-staff cost and intersegment cost & revenue Note: Due to commercial rounding discrepancies may occur when summing up, % changes based on unrounded figures
Page 36
Fraport AG36 2Q26 Presentation, August 2026 APPENDICES MAJOR INTERNATIONAL HOLDINGS Figures refer to IFRS accounting, not local GAAP, percent changes based on unrounded figures Fully consolidated Group companies EUR mn Share in % Revenue1) EBITDA EBIT Result 2Q25 2Q26 Δ % 2Q25 2Q26 Δ % 2Q25 2Q26 Δ % 2Q25 2Q26 Δ % Fraport USA 100 47.1 49.0 +4.0 14.3 21.4 +49.7 5.4 13.7 >100 2.7 9.7 >100 Fraport Slovenija 100 14.6 16.0 +9.6 6.0 7.1 +18.3 3.4 4.5 +32.4 2.8 3.5 +25.0 Fortaleza + Porto Alegre2) 100 23.3 29.9 +28.3 11.5 15.6 +35.7 4.0 7.1 +77.5 –4.5 –2.6 – Lima 80.01 116.4 134.2 +15.3 24.3 40.9 +68.3 10.9 14.2 +30.3 0.7 2.4 >100 Fraport Greece3) 65 173.2 185.9 +7.3 81.1 85.0 +4.8 64.1 67.9 +5.9 33.6 38.1 +13.4 Twin Star 60 15.7 34.5 >100 7.4 7.1 –4.1 5.0 4.2 –16.0 4.0 2.9 –27.5 Group companies accounted for using the equity method EUR mn Share in % Revenue1) EBITDA EBIT Result 2Q25 2Q26 Δ % 2Q25 2Q26 Δ % 2Q25 2Q26 Δ % 2Q25 2Q26 Δ % Antalya I (FTA I) 51/504) 131.5 156.2 +18.8 93.2 90.8 –2.6 62.6 59.3 –5.3 44.0 51.1 +16.1 Antalya II (FTA II) 49/505) 19.7 28.1 +42.6 17.1 21.8 +27.5 8.4 12.8 +52.4 –70.2 –35.4 – 1)Revenue adjusted by IFRIC 12: Fortaleza + Porto Alegre 2Q2026: 28.9mn € (2Q2025: 23.4 mn €); Lima 2Q2026: 104.5 mn € (2Q2025: 90.8 mn €); Fraport Greece 2Q2026: 175.5mn € (2Q2025: 162.3 mn €); Twin Star 2Q2026: 16.0 mn € (2Q2025: 15.7 mn €); Antalya II 2Q2026: 23.9 mn € (2Q2025: 20.2mn €). 2) Sum of the Group companies Fortaleza and Porto Alegre. 3) Fraport Regional Airports of Greece A, Fraport Regional Airports of Greece B, and Fraport Greece Management Co. are collec tively referred to as “Fraport Greece” 4) Share of voting rights: 51%, dividend share: 50% 5) Share of voting rights: 49%, dividend share: 50%
Page 37
Fraport AG37 2Q26 Presentation, August 2026 APPENDICES MAJOR INTERNATIONAL HOLDINGS Figures refer to IFRS accounting, not local GAAP, percent changes based on unrounded figures Fully consolidated Group companies EUR mn Share in % Revenue1) EBITDA EBIT Result 6M 2025 6M 2026 Δ % 6M 2025 6M 2026 Δ % 6M 2025 6M 2026 Δ % 6M 2025 6M 2026 Δ % Fraport USA 100 91.6 90.3 –1.4 28.3 32.3 +14.1 10.2 16.3 +59.8 5.4 9.4 +74.1 Fraport Slovenija 100 24.6 273 +11.0 7.6 9.9 +30.3 2.5 4.7 +88.0 2.1 3.7 +76.2 Fortaleza + Porto Alegre2) 100 55.9 59.0 +5.5 22.9 31.8 +38.9 7.8 15.1 +93.6 –5.6 0.4 – Lima 80.01 256.3 244.3 –4.7 548 71.4 +30.3 32.0 20.6 –35.6 10.3 –16.8 – Fraport Greece3) 65 2151 230.3 +7.1 78.5 86.5 +10.2 45.5 52.8 +16.0 4.3 11.6 >100 Twin Star 60 20.6 58.5 >100.0 5.9 5.4 –8.5 1.2 0.2 –83.3 –0.7 –2.2 – Group companies accounted for using the equity method EUR mn Share in % Revenue1) EBITDA EBIT Result 6M 2025 6M 2026 Δ % 6M 2025 6M 2026 Δ % 6M 2025 6M 2026 Δ % 6M 2025 6M 2026 Δ % Antalya I (FTA I) 51/504) 159.0 198.3 +24.7 98.4 97.5 –0.9 40.6 35.4 –12.8 12.3 24.4 +98.4 Antalya II (FTA II) 49/505) 38.8 37.6 –3.1 14.7 21.9 +49.0 6.0 4.1 –31.7 –107.5 –73.0 – 1)Revenue adjusted by IFRIC 12: Fortaleza + Porto Alegre 6M2026: 57.3mn € (6M2025: 45.8 mn €); Lima 6M2026: 208.2 mn € (6M2025: 186.3 mn €); Fraport Greece 6M2026: 217.2mn € (6M2025: 201.6mn €); Twin Star 6M2026: 21.3 mn € (6M2025: 20.6 mn €); Antalya II 6M2026: 29.6mn € (6M2025: 21.2mn €). 2) Sum of the Group companies Fortaleza and Porto Alegre. 3) Fraport Regional Airports of Greece A, Fraport Regional Airports of Greece B, and Fraport Greece Management Co. are collec tively referred to as “Fraport Greece” 4) Share of voting rights: 51%, dividend share: 50% 5) Share of voting rights: 49%, dividend share: 50%
Page 38
Fraport AG38 2Q26 Presentation, August 2026 APPENDICES MAJOR INTERNATIONAL HOLDINGS Greece EUR mn Revenue Revenue w/o IFRIC 12 - Airport Charges - Retail - Other Total Revenue Opex (ex. IFRIC 12) EBITDA 2Q19 2Q25 2Q26 128 173 186 81 162 176 69 126 134 5 26 29 7 10 13 128 173 186 34 81 91 47 81 85 3Q19 3Q25 3Q26 177 310 144 297 127 232 7 51 10 14 177 311 38 130 106 167 4Q19 4Q25 4Q26 80 120 49 99 34 70 10 17 5 11 80 120 31 64 18 34 1Q19 1Q25 1Q26 78 42 44 23 39 42 15 26 29 4 5 5 4 8 8 79 42 45 23 42 40 0 -3 2 Antalya I (FTA I) EUR mn Revenue Revenue w/o IFRIC 12 - Airport Charges - Retail - Other Total Revenue Opex (ex. IFRIC 12) EBITDA 2Q19 2Q25 2Q26 112 132 156 112 132 156 76 95 87 33 30 60 3 7 9 112 161 157 15 68 66 98 93 91 3Q19 3Q25 3Q26 183 287 183 287 125 148 54 125 4 14 184 260 21 110 163 150 4Q19 4Q25 4Q26 80 116 80 116 48 69 29 43 3 4 80 117 18 89 62 28 1Q19 1Q25 1Q26 26 27 42 24 27 42 12 19 20 9 4 16 3 4 6 26 28 43 9 23 36 15 5 7 Note: Due to commercial rounding discrepancies may occur when summing up, % changes based on unrounded figures
Page 39
Fraport AG39 2Q26 Presentation, August 2026 APPENDICES MAJOR INTERNATIONAL HOLDINGS Lima EUR mn Revenue Revenue w/o IFRIC 12 - Airport Charges - Retail - Other Total Revenue Opex (ex. IFRIC 12) EBITDA 2Q19 2Q25 2Q26 127 116 134 87 91 105 49 50 54 17 16 19 21 25 32 127 116 144 53 67 73 34 24 41 3Q19 3Q25 3Q26 108 134 86 101 46 55 18 17 22 29 108 134 54 72 32 29 4Q19 4Q25 4Q26 112 136 92 101 52 54 17 18 23 29 112 136 58 86 34 15 1Q19 1Q25 1Q26 89 140 110 82 96 104 46 54 56 15 16 17 21 26 31 89 140 110 50 65 73 32 31 31 Lima USD mn Revenue Revenue w/o IFRIC 12 - Airport Charges - Retail - Other Total Revenue Opex (ex. IFRIC 12) EBITDA 2Q19 2Q25 2Q26 143 133 156 98 103 122 55 57 63 19 18 22 24 28 37 143 133 167 60 75 85 38 28 48 3Q19 3Q25 3Q26 120 157 96 118 51 64 19 20 26 34 120 157 61 84 35 34 4Q19 4Q25 4Q26 124 158 102 118 57 63 19 21 26 34 124 158 64 100 38 18 1Q19 1Q25 1Q26 101 147 129 93 101 121 53 57 65 17 17 20 23 27 36 101 147 129 57 68 86 36 32 36 Note: Due to commercial rounding discrepancies may occur when summing up, % changes based on unrounded figures
Page 40
Fraport AG40 2Q26 Presentation, August 2026 APPENDICES MAJOR INTERNATIONAL HOLDINGS Brasil EUR mn Revenue Revenue w/o IFRIC 12 - Airport Charges - Retail - Other Total Revenue Opex (ex. IFRIC 12) EBITDA 2Q19 2Q25 2Q26 77 23 30 21 23 29 13 12 15 3 4 5 5 7 9 78 24 31 13 12 14 9 12 16 3Q19 3Q25 3Q26 65 27 24 26 15 14 4 5 5 7 66 28 13 12 11 15 4Q19 4Q25 4Q26 55 32 26 28 15 15 4 5 7 8 56 52 16 16 10 31 1Q19 1Q25 1Q26 86 33 29 23 22 28 15 12 15 4 5 5 4 5 8 87 33 30 15 11 13 9 11 16 Brasil BRL mn Revenue Revenue w/o IFRIC 12 - Airport Charges - Retail - Other Total Revenue Opex (ex. IFRIC 12) EBITDA 2Q19 2Q25 2Q26 339 151 176 90 150 170 57 79 89 14 25 28 19 46 53 342 154 181 55 80 83 38 74 91 3Q19 3Q25 3Q26 289 175 105 165 68 88 16 29 21 48 292 179 58 77 50 92 4Q19 4Q25 4Q26 254 202 116 175 69 96 18 29 29 50 259 325 74 101 47 197 1Q19 1Q25 1Q26 368 201 179 99 138 175 64 72 93 15 28 31 20 38 51 371 204 183 62 71 79 40 70 100 Note: Due to commercial rounding discrepancies may occur when summing up, % changes based on unrounded figures
Page 41
Fraport AG41 2Q26 Presentation, August 2026 APPENDICES MAJOR INTERNATIONAL HOLDINGS Twin Star EUR mn Revenue Revenue w/o IFRIC 12 - Airport Charges - Retail - Other Total Revenue Opex (ex. IFRIC 12) EBITDA 2Q19 2Q25 2Q26 15 16 35 15 16 16 9 9 9 2 2 3 4 5 4 15 16 35 6 9 9 9 7 7 3Q19 3Q25 3Q26 41 38 41 38 27 25 5 6 9 7 41 38 14 16 27 22 4Q19 4Q25 4Q26 5 25 5 7 2 3 1 2 2 2 5 26 6 10 -1 -3 1Q19 1Q25 1Q26 3 5 24 3 5 5 2 2 3 0 1 1 1 2 1 3 5 24 4 6 7 -1 -2 -2 Fraport Slovenija EUR mn Revenue Revenue w/o IFRIC 12 - Airport Charges - Retail - Other Total Revenue Opex (ex. IFRIC 12) EBITDA 2Q19 2Q25 2Q26 13 15 16 13 15 16 6 7 8 1 1 1 6 7 7 13 15 16 8 9 9 5 6 7 3Q19 3Q25 3Q26 14 17 14 17 7 9 1 1 6 7 14 22 8 9 6 13 4Q19 4Q25 4Q26 9 13 9 13 4 6 1 1 4 6 11 13 9 9 2 4 1Q19 1Q25 1Q26 10 10 11 10 10 11 4 4 5 1 1 1 5 5 5 10 10 12 6 8 9 4 2 3 Note: Due to commercial rounding discrepancies may occur when summing up, % changes based on unrounded figures
Page 42
Fraport AG42 2Q26 Presentation, August 2026 APPENDICES CAPEX & NET DEBT DEVELOPMENT 2026 T3 Capex: €~250mn Other Capex: €~400mn Capex 2026: €~100mn Capex 2026: €~100- 150mn Frankfurt -400 -100 ~+100 -500 -200 100 400 700 1.000 1.300 1.600 OCF (proxy: EBITDA guidance) "Brick-and-Mortar" Capex Net Interest Result & Taxes IFRS 16 & Fixed Conc. Payments Net flows associates NWC Changes Free Cash Flow 2026 FCF OUTLOOK ~900 Up to 1.5 bn +/-0 Low 3-digit million EUR Mn EUR Net Debt YE 2026: <EUR c.8.2bn1 1 +/- F/X translation Effects Net Cash Flows to / from Non-controlling Interests, and other Effects, including Valuation 2 Of which EUR c.50mn expected to be Capitalized as Borrowing Cost and reported as ”Capex” Other Intl. Airports 2 2 Lima
Page 43
Fraport AG 107 100 100 -150 100 -150 100 -150 100 -150 100 -150 153 100- 150 271 25 250 -300 250 -300 250 -310 250 -320 250 -330 250 -340 113 up to ~100 up to ~100 up to ~100 up to ~100 up to ~100 up to ~100 488 ~250 ~150 20 30 100 -150 100 -150 100 -150 ~250 2025 2026 2027 2028 2029 2030 2031 Maintenance Intl. Lima Maintenance FRA IT & Equipment T3 Projects FRA / Intl. APPENDICES MID TERM CAPEX OUTLOOK 2Q26 Presentation, August 202643 ~1.132 ~900 ~700 ~600-700 ~600-700 ~600-700 ~700-850 “Maintenance FRA” €~250mn-300mn p.a. plus inflation allowance from 28on “Projects” include Expansion & Modernization Projects in FRA and Intl. Assets which Increase RAB and/or Achieve higher Non-Aviation Revenues. Examples: FRA T2 Planning & prep. Works, FRA Cargo “Maintenance Intl.” €~100mn-150mn p.a. Frankfurt T2 Planning and Prepartory Works to last until c.2029. Decision to Commence with T2 Core Construction Works to be Taken Towards End of the Decade Subject to Traffic Development. Below Forecast Assumes a Construction Start in ~2030-31 “IT & Equipment FRA” up to €~100mn p.a. € mn
Page 44
Fraport AG APPENDICES TRANSITION PLAN TERMINAL 3 2Q26 Presentation, August 202644
Page 45
Fraport AG APPENDICES TERMINAL 3 TO SUPPORT FRANKFURT CAPACITIES GOING FORWARD 2Q26 Presentation, August 202645 Blue curves: Arrivals Red curves: Departures Green curves: Mixed Frankfurt Slot Utilization: Arrival/Departure/Mix – Daily Curves Summer 2026 Summer 2026 Movements capped at 104 mov/h
Page 46
Fraport AG APPENDICES MULTI ANNUAL FRANKFURT AVIATION CHARGE AGREEMENT 2025 PASSENGERS O&D +6.8% 2025 PASSENGERS CONNECTING +5.0% 2025 OTHER PRICES +5.7% 2026 PASSENGERS O&D +4.5% 2026 PASSENGERS CONNECTING +3.5% 2026 OTHER PRICES +3.9% 2027 PASSENGERS O&D +4.0% 2027 PASSENGERS CONNECTING +3.0% 2027 OTHER PRICES +3.4% 2028 PASSENGERS O&D +3.0% 2028 PASSENGERS CONNECTING +2.5% 2028 OTHER PRICES +2.7% 2Q26 Presentation, August 202646
Page 47
Fraport AG APPENDICES FRANKFURT INTERCONT. INCENTIVE SCHEME FOR DEPARTING PAX 2024 EXP. O&D DEP. PASSENGERS 6.3MN 2024 EXP. CONNECTING DEP. PAX 5.4MN 2025 O&D THRESHOLD +3.8% 2025 CONNECTING THRESHOLD +1.3% 2026 O&D THRESHOLD +9.5% 2026 CONNECTING THRESHOLD +9.2% 2027 O&D THRESHOLD +12.1% 2027 CONNECTING THRESHOLD +15.6% 2028 O&D THRESHOLD +14.1% 2028 CONNECTING THRESHOLD +19.6% 2Q26 Presentation, August 202647 Threshold vs. 2024e PAX Equivalent to: c.0.2MN PAX Equivalent to: c.0.1MN PAX Equivalent to: c.0.6MN PAX Equivalent to: c.0.5MN PAX Equivalent to: c.0.8MN PAX Equivalent to: c.0.8MN PAX Equivalent to: c.0.9MN PAX Equivalent to: c.1.1MN PAX 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 Relative to 2024e EUR 15 kick-back per O&D EUR 7.5 per connecting
Page 48
Fraport AG48 2Q26 Presentation, August 2026 APPENDICES NEW GERMAN PUBLIC SECTOR BARGAINING AGREEMENT 2025 2026 2027 • Wage increase of 3 % as of April 1st • Minimum step up of 110 EUR per month • Increase in allowance for shift work as of July 1st • Wage increase of 2.8 % as of May 1st • Increase in annual bonus* by up to 35 PP to 85% based on a monthly salary • Possibility to increase working hours from 39 to 42 per week • One additional day off Wage Agreement Settled until March 31st, 2027 *bonus = percentage of 3 month average monthly salary
Page 49
Fraport AG49 2Q26 Presentation, August 2026 APPENDICES DATES 6M 9M 2026 Financial Calendar 3M AGM Mar 17, 2026 May 05, 2026 Aug 6, 2026 Nov 4, 2026May 12, 2026 FY Oct 13, 2026 Nov 12, 2026 Jan 18, 2027Dec 11, 2026 3M 4M 5M 6M Jul 13, 2026Jun 12, 2026 Sep 11, 2026 7M Aug 13, 2026 8M 9M 10 M 11 M 12 M May 15, 2026Apr 15, 2026 2026 Traffic Calendar