Slides
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2025 Full-year results February 18 th, 2026 conference call on Feb. 19 th, 2026
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FY 2025 RESULTS GROUPE ADP 2 2025 Full -year Highlights 01
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FY 2025 RESULTS GROUPE ADP 3 A successful 2025, preparing for our next strategic cycle New management team since February Successful employee shareholding operation Reform of the compensation structure Continued recognition of service quality in the Skytrax Awards Connect France partnership to foster competitivity and quality of service Simplificationand renaming plan at Paris-CDG initiated Accepted Industrial project built on Paris-Orly 2035 and CDG&Vouspublic consultations ERA Proposal made on December 10th and now pending ART non-binding opinion expected by April 11th Antalyaairport extension Delhiairport extension Georgiaconcession extension TAV Airports proposing dividend resumption Fostering a more agile and aligned culture Steering operational performance Laying the foundations for long-term visibility in Paris Advancing international assets across the value cycle 2025 financial targets met Proposed dividend of €3.0p.s.1 1. Subject to approval by the General Meeting of shareholders Meeting, scheduled for May 21, 2026.
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FY 2025 RESULTS GROUPE ADP 4 +8.9% FY 2025 results: strong EBITDA growth REVENUE REC. EBITDA1 NET INCOME PARENT COMP. FY 2024 FY 2025 6,158 6,704 FY 2024 FY 2025 2,068 2,322 342 382 FY 2024 FY 2025 +12.3% In €M - all X.X% vs. FY 2024 1. See definitions of financial indicators on slide 44. +11.7% Up +11.3% excl. P/S & PEG integration +8.9%
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FY 2025 RESULTS GROUPE ADP 5 Fostering long-term alignment and talent retention 4,388 employees (73% of ADP SA’s) subscribing to the plan High engagement showcasing a strong employee alignment with the company’s strategy and outlook Employee shareholding now reaching 1.8% of capital, a genuine lever for sharing the value creation Rebalancingcompensationitemsand reformingthe employee status, for a more consistent and sustainablesalaryprofile Adapting structures to the incoming wave of retirementsand to improvetalentmanagement Generating long-term savings, supportive to ERA proposalopex trajectory. 2026 effect on staff costs fullyaccountedin 2026outlook. Successful employee shareholder operation Reform in compensation structure
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FY 2025 RESULTS GROUPE ADP 6 Simplification and renaming plan at Paris-CDG Simplification of the passenger journey, especially for connections Renaming scheduled upon the commissioning of the CDG Express, direct train link to Paris Effective change March 2027 Simplification of the passenger journey, especially for connections Matching industry standards in major international hubs Numbered Terminals & Lettered Departure lounges
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FY 2025 RESULTS GROUPE ADP 7 Disciplined capex supporting performance and transformation in Paris Refurbishment of runway 1 in Paris-CDG Renovation ofParis-CDG runway 1 and of 23 associated taxiways to reach best industry standards, for €94M Commissioning of a geothermal plant in Paris-CDG Restructuring & extension of airside areas in Paris-Orly Upgrading the baggage sorting systems at Terminals 2A and 2C to Standard 3, consolidating and strengthening the infrastructure at 2A for greater flexibility and reliability, and completely renovating the system at 2C, for €19M Modernising luggage systems in Terminal 2AC Restructuring of remote aircraft stands and extension of aeronautical areas in the North of Paris-Orly to increase aircraft capacity, for €23M Deployment of a deep geothermal system and associated works to connect the electrical network infrastructure, for €9M
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FY 2025 RESULTS GROUPE ADP 8 International assets moving from disciplined development to value delivery Extension & refinancing of Antalya airport (April 2025) Capacity increased to 65MPaxand 2.6x enlarged retail areas Long term financing secured, in view of new concession in 2027 Georgia concession extension (January 2026) 5-year extension of Tbilisi airport concession, to 2031YE, extending the maturity of a key asset for TAV (78% EBITDA margin in 2025) New investment plan to increase capacity to more than 10MPax TAV Airports 2025 results 2025 net income of €51M (at 100%, as published by TAV Airports) Proposed dividend of 3.61TRY p.s to be paid in 20261 (i.e. c.€11.6M for ADP SA2) Planned repayment of shareholder loan (incl. interest) to ADP for €315M in March 2026 TAV AIRPORTS Delhi airport extension of Terminal 1 (April 2025) Extension & modernization to reach 100Mpax airport capacity GMR Airports refinancing(August 2025) Early bond repayment and refinancing at lower cost GMR AIRPORTS 1. Subject to approval by the General Meeting of shareholders Meeting 2. As of 17 February 2026 fx rates.
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FY 2025 RESULTS GROUPE ADP 9 2025 Full -year results 02
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FY 2025 RESULTS GROUPE ADP 10 1. Detailed indicators on Paris Aéroports’ traffic are available on slide 25. 2. In 2025, Delhi Airport traffic was impacted by the temporary reduction of Air India's international operations (June-Oct), renovation works on one of the runways (June- Sept), IndiGo flight cancellations related to implementation of pilot's flight duty limitations (Dec) and the closure of Pakistan airspace to Indian airlines (ongoing). FY 2025 traffic: continued traffic growth, varying by platform In Mpax / all X.X% vs. FY 2024 108.0 2019 2020-2023 103.4 2024 107.0 2025 … +3.4% Note 2025/2024 variation is skewed by disruptions linked to the 4-Flight ATC system and by the leap day in 2024. Excluding these effects, traffic would be +3.0% ◆ Structural decline in mainland domestic traffic (-2.0%) ◆ Steady traffic with N. America (+1.6%), at 106.7% of FY 2019 ◆ Strong momentum with Africa (+4.0%), at 121.5% of FY 2019 ◆ Reaching near recovery with Asia-Pacific (+6.9%) at 91.3% of FY 2019. 106.5 2024 113.1 2025 AIG (Amman airport) ◆ Strong recovery trend despite geopolitical tensions +6.3% TAV Airports ◆ Driven by its international assets (+8.8%) ◆ Lower dynamism for its domestic airports (+4.9%) 117.6 2024 121.3 2025 GMR Airports ◆ Operational and geopolitical headwinds (mainly in Delhi2) ◆ Solid underlying traffic dynamics 8.8 2024 9.8 2025 +3.0% +11.3% Group traffic : up 4.2% at 379.0 Mpax Paris Aéroport1: up +3.4%, driven by international traffic From June to October 2025, Delhi Airport traffic was impacted by the temporary reduction of Air India's international operations and the closure of work on one of the airport's runways
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FY 2025 RESULTS GROUPE ADP 111. Extime Paris Sales/Pax: Sales per passenger in the airside activities, including shops, bars & restaurants, foreign exchange & tax refund counters, commercial lounges, VIP reception, advertising and other paid services in the airside area. Extime Paris sales per pax1 at €31.7 Terminal 2AC: negative rebasing effect from its reopening in mid-2024 Intensified works in terminal T2EK since Q2 Advertising and Extime Travel Essentials revenues returning to normal after strong 2024 levels, supported by the Paris Games Luxury: slower momentum since Q2, after an outstanding Q1, with unsupportive currency effects from EUR appreciation Quarterly SPP 2023 2024 2025 Q1 Q2 Q3 Q4 Yearly SPP €30.6 €32.1 €31.7 +3.6% (1.2)%Resilient retail performance, in a disrupted context
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FY 2025 RESULTS GROUPE ADP 12 Revenue up 8.9% to €6,704M AVIATION in Paris, up €138M (+6.9%) reflecting traffic growth (+3.4%) and airport fee increase by an average of +4.5% RETAIL & SERVICES up €229M (+11.9%). Retail revenue driven by international traffic growth and positive scope effects from acquisitions. Other services are down due to lower reinvoicing of works & studies relating to SGP (Société des Grands Projets) projects. INTERNATIONAL up €176M (+8.9%). ◆ TAV Airports’ revenue up €163M (+9.8%), both from its service companies (BTA +€58M, Havas +€25M, TAV IT +€2M, TAV OS +€10M…) and its airports assets (Georgia +€16M, Tunisia +€7M…). ◆ AIG’s revenue up €30M (+10.8%), supported by the traffic recovery at Amman (+11.3%) despite its geopolitical context. ◆ Other international activities are impacted by scope effects from reclassifications & disposals. Other activities and eliminations FY 2024 Results 138 Aviation 218 Retail activities 11 Other retail & services 26 Real estate 163 6,158 6,704 TAV Airports 30 AIG (14) Other International (23) FY 2025 Results Retail & Services International and airport development In €M / all X.X% vs. FY 2024
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FY 2025 RESULTS GROUPE ADP 13 Recurring EBITDA up 12.3% to €2,322M In million euros FY 2025 FY 2024 Change Revenue 6,704 6,158 +546 Operating Expenses (4,450) (4,210) -240 Consumables (953) (920) -33 External services (1,569) (1,511) -58 Employee benefit costs (1,392) (1,259) -133 Taxes (other than income tax) (430) (411) -19 Other operating expenses (106) (109) +3 Other incomes and expenses 68 120 -52 Rec. EBITDA 2,322 2,068 +254 Opex up +5.6%, reflecting good cost control to mitigate: ◆ Increased consumables and external services volumes from traffic growth, service quality efforts, and full infrastructure opening ◆ Continued rise in staff costs, notably at TAV Airports, driven by strong activity growth and inflation in Turkey ◆ Impact from the integration of P/S and PEG in the group’s consolidated accounts Other incomes and expenses down notably due to unfavorable base effect from the Olympics-related €25M provision reversal and the €26m Paris real estate takeover in 2024 77 101 FY 2024 Rec. EBITDA Aviation Retail & Services Real estate InternationalOthers FY 2025 Rec. EBITDA 2,068 93 -1 -15 2,322 In €M / all X.X% vs. FY 2024 +12.3% Rec. EBITDA excl. one-offs appears in the appendix (slide 30 and 31). 20 P/S & PEG contribution
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FY 2025 RESULTS GROUPE ADP 14 Net income at €382M, including income tax surplus and non-cash FX charges 342 382257 130 92 FY 2024 Net inc. to parent company Change in EBITDA Change in D&A, JVs, Interest, Taxes, Minorities and others* Net impact from TRY & INR depr. vs. EUR Income tax surplus FY 2025 Net inc. to parent company 5 In million euros FY 2025 FY 2024 Change Recuring EBITDA 2,322 2,068 +257 Amortization and impairment (1003) (791) (212) Associates and joint ventures (165) (292) +127 Op. income from ordinary activities 1,154 985 +169 Other op. income & expenses 6 9 (3) Operating income 1,160 994 +169 Financial result (337) (152) (185) Income tax expense (398) (326) (72) Net inc. to non-controlling interests 44 174 (130) Net income to the parent company 382 342 +40 AMORTIZATION & IMPAIRMENT down €(212)M, driven by the +€152M AIG impairment reversal in 2024 Base effect from non-cash accounting impact from GIL and GAL merger for €(330)M Non-cash FX IMPACTS1 from TRY & INR depreciation vs. EUR, on associates & JVs, result and income tax, net €(130)M on the net income to the parent company INCOME TAX SURPLUS in France, for €(92)M impact in 20251 * excl. impacts from FX and Income tax surplus accounting. In €M / all X.X% vs. FY 2024 1. See financial release from 1st July 2025
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FY 2025 RESULTS GROUPE ADP 15 522 296 295 46 FCCBs-related options fair value Reported Net debt Cash-flows from operations Capex & development Dividends paid Interest paid FCCBs-related options change in FV Restated net debt FCCBs-related options fair value Reported Net debt Others 8,050 8,572 (1,627) 1,265 (222) 8,625 (568) 8,057 Restated net debt Improved leverage, with net debt at 3.7x rec. EBITDA 3.9x1 As of 31 Dec. 2024 As of 31 December 2025 4.1x 3.7x 3.5x1 1 Adjusted leverage: Net debt/ rec. EBITDA ratio, with net debt adjusted for FCCBs-related options (call option recorded as a derivative liability & put option as a derivative asset). Net debt / Rec. EBITDA Adjusted net debt1 / Rec. EBITDA X X Liability management at ADP SA: €1,000M bond issuance on 13 March, partly offset by the €500M bond repayment on 21 March and €250M repurchase of existing notes on 21 March Proceeds from GMR Entreprises’ partial purchase, for €30M in principal, of FCCBs issued by GMR Airports and held by ADP Dividend payment of €296M i.e., €3.00 per share distributed to Aéroports de Paris’ shareholders, on 5 June In €M
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FY 2025 RESULTS GROUPE ADP 16 Focus on regulated activities in Paris Estimated figures as of FY 2025 publication1 Revenue: €2,569M, up €202M Operating income: €419M, up €102M Regulated Asset Base: €6,197M, up €282M Post-tax regulated ROCE : 4.3%, up 0.3pt Initial proposal, of a 1.5% increase in airport charges, rejectedon Dec. 16th due to divergences in : appreciation of cost allocation rules WACC calculation methodology Second proposal, of unchanged airport charges on average, rejected on Feb. 10th, leading to flat airport charges from April 1st, 2026 2025 regulated scope performance 2026 airport charges 1. The hereabove financial figures for the 2025 regulated scope are currently under review. They may be adjusted until their approval by the Statutory Auditors in the second quarter of 2026.
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Outlook 03
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FY 2025 RESULTS GROUPE ADP 18 2026 traffic assumptions, forecasts and targets All X.X% vs. FY 2025 Dividend payout : 60% of net result Dividend floor at 3.00€ per share Rec. EBITDA ABOVE 2,350 MILLION EUROS Paris traffic growth BETWEEN +1.5% AND +2.5% Extime Paris SPP Growth ABOVE €32.0 of which ADP SA Capex c.1,000 MILLION EUROS Group Capex c.1,450 MILLION EUROS Net debt / Rec. EBITDA BELOW OR EQUAL TO 3.7x Incl. selected international growth project ASSUMPTIONS & TARGETS CAPITAL ALLOCATION
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FY 2025 RESULTS GROUPE ADP 19 An ERA proposal providing a framework for stability and sustainable performance Measures to control costs REGULATED EXPENSES SAVINGS -€130 million by 2034 (vs. trend) CONVERGENCE BETWEEN THE REGULATED ROCE AND THE REGULATED WACC, AT 5.9% ON AVERAGE OVER THE 2027-2034 AGREEMENT A moderate traffic growth TRAFFIC GROWTH +1.6% 2026-2034 CAGR A progressive, tailored investment plan REGULATED INVESTMENTS €8.4 billion1 A long-term modular project DURATION 8 years A coherent and proportional fee policy AVERAGE AIRPORT CHARGES INCREASE CPI2 +2.6pts Balanced risk-sharing mechanisms 4 ADJUSTMENT FACTORS for the airport charges increase cap 1. In constant euros, 2025. 2. Harmonised index of consumer prices
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FY 2025 RESULTS GROUPE ADP 20 Process for drawing up the Economic Regulation Agreement P R O V I S I O N A L T I M E L I N E – [ u n c h a n g e d v s . D e c . 1 0th ] 2026 2027 START OF ERAJanuary By April 11th ART Simple opinion on the whole ERA proposal ERA discussions with French civil aviation authority (DGAC) September 2nd User consultation November ART Binding opinion on the whole ERA proposal Following French State seizing of ART on Feb. 11th Compulsory for French State signature Signature of the ERA By Groupe ADP and the French Minister in charge of civil aviation 1st user consultation done: Positive opinions of airlines on the duration and contents of the proposal
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FY 2025 RESULTS GROUPE ADP 21 ◆ Negotiation of the Economic Regulation Agreement ◆ Improvement of long-term financial visibility ◆ Ongoing transformation to support social and organizational change ◆ Shift toward a more agile, performance-driven corporate culture ◆ Strengthening employee engagement and operational efficiency ◆ Alignment with long-term environmental and climate objectives ◆ Acceleration of Groupe ADP’s CSR commitments ERA ELABORATION CULTURAL TRANSFORMATION CSR DEVELOPMENT ◆ Strategic review of non- regulated activities and assets ◆ Clarification of growth priorities and value creation drivers ◆ Optimization of portfolio strategy to support long-term performance PORTFOLIO REVIEW 2026, a year dedicated to preparing the 2027-2030 strategic plan
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FY 2025 RESULTS GROUPE ADP 22 Appendices 04
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FY 2025 RESULTS GROUPE ADP 23 Paris Aéroport: traffic growth LOAD FACTOR 84.4% -0.3 pt ◆ 2025/2024 variation is skewed by disruptions linked to the 4-Flight ATC system and by the leap day in 2024. Excluding these effects, Paris traffic would be up 3.0% ◆ Structural decline in mainland domestic traffic (-2.0%) ◆ Continued trends in traffic with North America: - USA: up 0.6%, 8.4% of Paris traffic - Canada: up 7.7%, 2.7% of Paris traffic ◆ Asia Pacific traffic growing overall with: - China up 8.4%, 1.4% of Paris traffic, (i.e 66.3% recovery vs. 2019) Currently c.54 weekly frequencies vs. c.80 in winter 2019. Going forward: no material increase expected. - Japan: down 2.5%, 0.8% of Paris traffic vs. FY 2024 CONNECTING RATE1 LOW-COST TRAFFIC 20.3% -0.6 pt 29.7% +0.7pt vs. FY 2024 Mainland France French Overseas T. Europe Africa North America Asia-Pacific Latin America Middle-East Paris Aéroport Other international 107.0 Mpax (2.0)% +6.9% +3.4% +3.3% +4.0% +1.6% +9.3% +12.7% +3.4% +5.2% FY 2025 Traffic growth vs. FY 2024 10.6% 4.6% 45.0% 39.8% 13.8% 11.8% 2.9% 5.3% 5.9% Share of FY 2025 traffic 1 Number of connecting pax. out of the number of departing pax.
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FY 2025 RESULTS GROUPE ADP 24 Delhi Hyderabad Medan Goa GMR Airports +0.4% +10.5% -1.4% +7.8% +3.0% TAV AIRPORTS 1 Antalya Ankara Izmir Almaty TAV Airports +2.7% +8.3% +10.0% +4.4% +6.3% GMR AIRPORTS TAV AIRPORTS: VARIED TRENDS ◆ Turkish Airports: up 4.9%, with subdued international traffic (+2.5%), notably at Ankara, offset by dynamic domestic traffic (+7.2%), notably in Antalya, and Izmir ◆ International assets: up 8.8%, especially in Georgia (+16.3%) and Tunisia (+9.4%) GROUP TRAFFIC2 +4.2% 1. Traffic figures for all of TAV Airports’ assets appear in the appendices of this presentation 2. Group traffic includes traffic from airports operated by Groupe ADP in freehold or under concession, receiving regular commercial passenger traffic, excluding airports under management contract. Historical traffic data since 2019 is available on the company's website 78.2 MPax 31.1 MPax 7.0 MPax 5.1 MPax 121.3 MPax 39.1 MPax 14.0 MPax 12.7 MPax 12.0 MPax 113.1 MPax 379.0 Mpax Traffic at TAV Airports & GMR Airports vs. FY 2024 GMR AIRPORTS: RESILIENT, DESPITE HEADWINDS ◆ Delhi traffic up +0.4%, impacted since Q2 by temporary reduction in Air India’s operations, a runway closure for works, and geopolitical tensions ◆ Hyderabad up 10.5%, benefiting from strong underlying trends and additional capacity
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FY 2025 RESULTS GROUPE ADP 25 Finance law for 2026: items relevant to ADP SA Infrastructure taxIncome tax surplus 2026 income surplus: 41.2% of income tax unchanged from 2025 budget 2026 ADP SA effective rate 36.125% 2026 estimated surplus tax: €90-100M coming on top of the baseline (25.83%) income tax Unchanged in the 2026 budget Tax expense in 2025 €134M Tax rate : 4.6% of ADP SA revenue Update Reminder 2025 measure extended in 2026
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FY 2025 RESULTS GROUPE ADP 26 Passenger traffic 25/24 change (in %) Aircraft movements 25/24 change (in %) Paris-CDG 72,029,407 +2.5% 473,798 +2.8% Paris-Orly 34,928,909 +5.5% 216,101 +6.1% Total Paris Aéroport 106,958,316 +3.4% 689,899 +3.8% Antalya 39,160,491 +2.7% 228,910 +2.8% Almaty 11,930,941 +4.4% 95,176 +4.7% Ankara 13,987,298 +8.3% 89,364 +5.4% Izmir 12,660,080 +10.0% 77,866 +9.9% Bodrum 4,412,884 +2.1% 27,368 +1.0% Gazipaşa 1,004,377 -2.3% 6,508 -5.7% Medina 11,891,855 +9.0% 77,299 +6.5% Tunisia 3,198,931 +9.4% 21,385 +8.3% Georgia 6,626,558 +16.3% 63,748 +18.7% North Macedonia 3,475,288 +9.5% 26,500 +4.0% Zagreb 4,721,564 +9.4% 51,664 +3.4% Total TAV Airports 113,070,267 +6.3% 765,788 +5.7% New Delhi 78,148,081 +0.4% 453,413 +1.0% Hyderabad 31,068,339 +10.5% 210,912 +9.8% Medan 7,029,972 -1.4% 53,480 +0.4% Goa 5,096,763 +7.8% 35,648 +9.9% Total GMR Airports 121,343,155 +3.0% 753,453 +3.6% Santiago de Chile 26,518,580 +1.0% 162,332 -1.0% Amman 9,789,851 +11.3% 80,565 +9.8% Madagascar1 1,303,850 +10.1% 14,543 +12.1% GROUPE ADP 378,984,019 +4.2% 2,466,580 +4.2% Group traffic in 2025 1. Antananarivo & Nosy Be airports
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FY 2025 RESULTS GROUPE ADP 27 FY 2025 consolidated income statement In millions of euros FY 2025 FY 2024 FY 2025 / FY 2024 Revenue 6,704 6,158 +546 +8.9% Operating expenses (4,450) (4,210) (240) +5.7% Other income & expenses 68 120 (52) (43.3)% Recurring EBITDA 2,322 2,068 +254 +12.3% Amortisation and impairment of tangible and intangible assets (1,003) (791) (212) +26,8% Share of profit or loss in associates and joint ventures (165) (292) +127 (43.5)% Operating income from ordinary activities 1,154 985 +169 +17.2% Other non-recurring operating income and expenses 6 9 (3) (33.3)% Operating income 1,160 994 +166 +16.7% Net financial expense (337) (152) (185) +121,7% Income before tax 823 842 (19) (2.3)% Income tax expense (398) (326) (72) +22.1% Net income from continuing activities 425 516 (91) (17.4)% Net income from discontinued activities - - - € -% Net income 426 516 (90) (17.4)% Net income attributable to non-controlling interests 44 174 (130) (74.7%) Net income attributable to owners to the parent company 382 342 +40 +11.7%
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FY 2025 RESULTS GROUPE ADP 28 15 FY 2025 Rec. EBITDA One-offs items FY 2025 Rec. EBITDA excl. One-offs 2,322 2,337 Rec. EBITDA excluding one-offs up 13.2% UNDERLYING GROWTH REC. EBITDA EXCLUDING ONE-OFFS FY 2024 REC. EBITDA excluding one-offs FY 2025 REC. EBITDA excluding one-offs 4 FY 2024 Rec. EBITDA One-offs items FY 2024 Rec. EBITDA excl. One-offs 2,068 2,064 FY 2024 FY 2025 2,064 2,337 In €M / all X.X% vs. FY 2024 Rec. EBITDA excluding one-off items corresponds to reported rec. EBITDA, adjusted for one-off items, which are detailed on slide 31 +13.2%
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FY 2025 RESULTS GROUPE ADP 29 382 494 111 FY 2025 Net income One-offs items FY 2025 Net income excl. One-offs Net income excluding one-offs down –22.6% UNDERLYING GROWTH NET INCOME EXCLUDING ONE-OFFS FY 2024 NET INCOME excluding one-offs FY 2025 NET INCOME excluding one-offs 342 638 296 FY 2024 Net income One-offs items FY 2024 Net income excl. One-offs 638 494 FY 2024 FY 2025 -22.6% Net income excluding one-off items corresponds to reported Net income to the parent company adjusted for one-off items which are detailed in the appendix (slide 31) In €M / all X.X% vs. FY 2024
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FY 2025 RESULTS GROUPE ADP 30 One-offs in FY 2024 rec. EBITDA One-offs in FY 2025 rec. EBITDA €M One-off items One-offs items 15 of which Revenue - of which current expenses 9 Exceptional CSR projects and accounting correction of which other inc. & expenses 6 Various provisions One-offs in FY 2024 Net income att. to the parent comp. €M One-offs item (net of minorities) One-offs items 111 of which rec. EBITDA one-offs 4 of which D&A 6 Various impairments and reversals of real estate and international assets of which Share of profit or loss in associates and joint ventures 9 Operational settlement of which financial result (4) International regulatory settlement and other operations of which income tax expense 97 Surplus income tax in France and accounting correction One-offs in FY 2025 Net income att. to the parent comp. €M One-off items One-offs items (4) of which current expenses 9 Invoice reversal, correcting previous year of which operating expense 28 2024 Olympics-related expenses ; property tax rebates in Paris of which other inc. & expenses (42) Provision reversal on Olympics-related expenses ; return of some real estate assets in full ownership in Paris ; Impact of ADP Ingenierie's sale €M One-offs item (net of minorities) One-offs items 296 of which Rec. EBITDA one-offs (3) of which D&A (20) Impairment reversal at AIG upon concession extension ; Scrapping from asset base inventory ; Impairments on international assets of which Share of profit or loss in associates and joint ventures 330 Accounting impact of GIL/GAL merger and FCCBs' fair value adjustment of which financial result (11) Products on FCCBs & others One-off items – Rec. EBITDA and Net result
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FY 2025 RESULTS GROUPE ADP 31 Revenue: up €138M driven by: ◆ The increase in revenue from airport and ancillary fees, up 7.5% and 13.1% respectively, linked to the increase in traffic in Paris up 3.4% and the average increase of +4.5% in aeronautical fees applicable since 1st April 2025, including notably the increase by 25% of the PRM fee1 ; ◆ The increase in revenue from airport safety and security services, up 1.5% despite the lower share of costs from these activities covered by the French State, as per the Finance law for 2025. Rec. EBITDA: up €77M Operating income from ordinary activities up €58M. Aviation – FY 2025 Income statement 79 35 FY 2024 Revenue Passengers fees 13 Landing fees 0 Parking fees Ancillary fees 8 Revenue from airport safety and security services 2 Other products FY 2025 Revenue 2,054 2,192 REVENUE (€M) +6.7% (in millions of euros) FY 2025 FY 2024 FY 2025/FY 2024 Revenue 2,192 2,054 +138 +6.7% Airport fees 1,328 1,235 +93 +7.5% Passenger fees 880 801 +79 +9.9% Landing fees 275 262 +13 +5.0% Parking fees 172 172 - -% Ancillary fees 302 267 +35 +13.1% Revenue from airport safety and security services 537 529 +8 +1.5% Other income 25 23 +2 +8.7% Rec. EBITDA 572 495 +77 +15.6% Operating income from ordinary activities 132 74 +58 +78.4% Rec. EBITDA / Revenue 26.1% 24.1% +2.0pt - Op. income from ordinary activities / Revenue 6.0% 3.6% +2.4pt - 1. Fee for assistance for disabled persons and persons with reduced mobility
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FY 2025 RESULTS GROUPE ADP 32 Retail and services – FY 2025 Income statement Revenue: up €229M, now including the contributions of P/S and PEG acquired in 2024 and SDA Croatie whose accounts have been reclassified since FY 2024. Excluding these scope effects, the revenue would be up €56M. ◆ Extime Duty Free Paris, up 3.5%, Extime Travel Essentials Paris, up 7.1% and Other Shops and Bars & restaurants up 20.6%, driven by a strong momentum in international traffic. ◆ Reclassification of SDA Croatie & hospitality activities and acquisition of PS & PEG (insignificant in 2024), now all accounted for under Retail activities ◆ Hospitality and other retail revenue, up €156M mainly due to the integration of the P/S and PEG results acquired in October 2024, the reclassification of hospitality services within these products since the FY24 results. Rec. EBITDA, up €93M Operating income from ordinary activities up €47M 173 FY 2024 Revenue 29 Extime Duty Free Paris 13 Extime Travel Essentials Paris Other retail activities 3 Car parks and access roads 18 Industrial services 10 Rental income (16) Others FY 2025 Revenue 1 930 2 159 +11.9% (in millions of euros) FY 2025 FY 2024 FY 2025/FY 2024 Revenue 2,159 1,930 +229 +11.9% Retail activities 1,499 1,281 +218 +17.0% Extime Duty Free Paris 848 819 +29 +3.5% Extime Travel Essentials Paris 195 182 +13 +7.1% Other Shops and Bars & restaurants 152 126 +26 +20.6% Advertising 62 72 (10) (13.9)% Société de Distribution Aéroportuaire Croatie 22 21 1 - % Hospitality and other retail revenue 217 61 +156 +255.7% Car parks and access roads 181 178 +3 +1.7% Industrial services revenue 221 203 +18 +8.9% Rental income 212 202 +10 +5.0% Other income 46 62 (16) (25.8)% Rec. EBITDA 828 735 +93 +12.7% Operating income from ordinary activities 647 600 +47 +7.8% Rec. EBITDA / Revenue 38.4% 38.1% +0.3pt - Operating income from ordinary activities / Revenue 30.0% 31.1% (1.1)pt - REVENUE (€M)
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FY 2025 RESULTS GROUPE ADP 33 Retail and services subsidiaries Company Activity Notes Ownership as of 31/12/2025 Consolidation method Functional Currency Extime Duty Free Paris (ex. Société de Distribution Aéroportuaire) Retail JV with Lagardère Duty Free 51% Full consolidation EUR Extime Travel Essentials (ex. Relay@ADP) Travel Essentials JV with Lagardère Travel Retail 50% Full consolidation EUR Extime Média (ex. Média ADP) Advertising JV with JC Decaux 50% Full consolidation EUR Extime Food & Beverage Paris Bars & restaurants JV with Select Service Partner (SSP) 50% Equity accounting EUR Paris Expérience Group Touristic Experiences Acquisition in October 2024 100% Full consolidation EUR P/S (ex. Private Suite) Private terminals Acquisition in October 2024 100% Full consolidation USD RETAIL SUBSIDIARIES & JVS DEVELOPMENTS OVER THE PAST YEAR ◆ Epigo merged with Extime Food & Beverage Paris on July 8th 2024 ◆ Acquisition of 100% of Paris Experience Group and of P/S in October 2024 for a combined €360M.
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FY 2025 RESULTS GROUPE ADP 34 Real estate – FY 2025 Income statement Revenue: up €26M, driven by: ◆ External revenue up €15M notably from buildings acquired and commissioned, and from the effect of rent indexation, despite the slowdown in the underlying indices. ◆ Internal revenue, up €11M Rec. EBITDA: down €(1)M Operating income: down €(18)M due to a depreciation of a real estate asset 9 11 FY 2024 Revenue 4 Land Buildings 2 Other external revenue Internal revenue FY 2025 Revenue 332 358 (in millions of euros) FY 2025 FY 2024 FY 2025/FY 2024 Revenue 358 332 +26 +7.8% External revenue 305 290 +15 +5.2% Land 128 124 +4 +3.2% Buildings 125 116 +9 +7.8% Others 52 50 +2 +4.0% Internal revenue 53 42 +11 +26.2% Rec. EBITDA 253 254 (1) (0.4)% Operating income from ordinary activities 177 195 (18) (7.7)% Rec. EBITDA / Revenue 70.7% 76.5% (5.8)pts - Op. income from ordinary activities / Revenue 49.4% 58.7% (9.3)pts - REVENUE (€M) +7.8%
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FY 2025 RESULTS GROUPE ADP 35 International and airport development – FY 2025 Income statement 163 FY 2024 Revenue 30 AIG TAV Airports (17) Others FY 2025 Revenue 1,971 2,147 +8.9% Revenue: up €176M, not including ADP Ingénierie anymore, sold in October 2024, and SDA Croatie, reclassified into Retail & Services since FY 2024. Excluding these scope effects, the revenue would be up €188M, driven by : ◆ TAV Airports revenue, up 9.8%, linked with the traffic growth (+6.3%), and strong growth in service companies. ◆ AIG revenue, up 10.8% driven by a strong start of the year despite the escalation of geopolitical tension in the Middle East in June. Rec. EBITDA up €101M Operating income: up €98M (in millions of euros) FY 2025 FY 2024 FY 2025/FY 2024 Revenue 2,147 1,971 +176 +8.9% ADP International 323 307 +16 +5.2% of which AIG 307 277 +30 +10.8% TAV Airports 1,823 1,660 +163 +9.8% Rec. EBITDA 647 546 +101 +18.5% Share of profit or loss in associates and JVs (160) (294) +134 (45.6)% Operating income from ordinary activities 197 99 +98 +99.0% Rec. EBITDA / Revenue 30.1% 27.7% +2.4pts - Op. income from ordinary activities / Revenue 9.2% 5.0% +4.2pts - REVENUE (€M)
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FY 2025 RESULTS GROUPE ADP 36 TAV Airports main assets & subsidiaries Company Activity Expiration date 2025 Traffic Ownership (by TAV) Consolidation method Functional Currency(1) AIRPORT COMPANIES TAV Kazakhstan Airport Operator, Fuel, F&B, Lounges, Ground Handling, Cargo - 12.0 Mpax 100%(2) Full consolidation USD TAV Ege Izmir airport terminal services 2034 12.7 Mpax 100% Full consolidation EUR TAV Georgia TAV Tbilisi Tbilisi airport operator & ground handling services 2031 6.7 Mpax 80% Full consolidation GELBatumi Airport Batumi airport operator 2027 76% TAV Ankara Ankara airport terminal services 2050 14.0 Mpax 100% Full consolidation EUR TAV Macedonia Skopje & Ohrid airport operator & ground handling services 2032 3.5 Mpax 100% Full consolidation EUR TAV Milas Bodrum Bodrum airport terminal services 2037 4.4 Mpax 100% Full consolidation EUR TAV Tunisia Enfidha & Monastir aiport management & ground handling 2047 3.2 Mpax 100% Full consolidation EUR TAV Latvia Riga airport commercial areas operator - - 100% Full consolidation EUR TAV Gazipasa Gazipasa aiport operator 2036 1.0 Mpax 100% Full consolidation EUR TAV Antalya Antalya airport terminal services 2026 39.2 Mpax 50%(3) Equity accounting EUR TIBAH Development Medina airport operator 2041 11.9 Mpax 26%(4) Equity accounting(5) SAR MZLZ Zagreb airport operator 2042 4.7 Mpax 15%(6) Equity accounting HRK TAV Antalya Inv. (New Antalya) Antalya airport terminal services (Future concession) 2027 - 2051 - 50%(7) Equity accounting EUR Services companies Havas Ground handling services 100% Full consolidation EUR BTA Food & beverage services 100% Full consolidation TRY TAV Technologies (TAV IT) Software & system services 100% Full consolidation USD TAV OS Operations & Maintenance and Lounge Services 100% Full consolidation TRY TAV Security Security Services 100% Full consolidation TRY ATU Duty Free Services 50% Equity accounting EUR TGS Ground handling services 50% (indirect) Equity accounting TRY 1. Mentioned companies may have local subsidiaries using other functional currencies. 2. The TAV Group holds an 85% stake in Almaty International Airport JSC and has a call and put option agreement on the remaining 15%. The analysis of this agreement leads to retain 100% ownership interest. 3. The 49% stake of TAV Airports in TAV Antalya gives the same governance rights as Fraport, as well as 50% of dividends. 4. In application of IAS 28, income or loss of Tibah Development will be netted-off from TAV’s loan to Tibah Development, as financial income or expense and are not accounted under equity accounted investees. 5. MZLZ is a 100%-owned subsidiary of ZAIC-A, in which TAV Airports holds 15,81% of the capital, and ADP International holds 20.8%, bringing the total Groupe ADP interest at 35.8%. 6. The 51% stake of TAV Airports in TAV Antalya Invest give the same governance rights as Fraport, as well as 50% of dividends.
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FY 2025 RESULTS GROUPE ADP 37 TAV Airports: 2026 guidance (1) Our 2026 outlook is based on an assumption of no mobility restrictions, normal business conditions, no other force majeure or security related events and no unexpected volatility or other abnormal conditions in foreign exchange markets. Deviations from these assumptions could have material effects on our expected passenger volume and financial results for 2026. Passenger outlook includes joint venture airports. Due to equity accounting, revenue, EBITDA and Capex outlook does not include joint venture entities. 2025 Actual 2026 Guidance(1) Total Pax (m) 113 116 – 123 Intl Pax (m) 75 78 - 83 Revenue (€m) 1823 1880 - 1980 EBITDA (€m) 560 590 - 650 Capex (€m) 201 less than 330
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FY 2025 RESULTS GROUPE ADP 38 GHIAL Hyderabad Airport PT Angkasa Pura Av. Medan Airport GADL Engineering 74% 49% DIAL Delhi Airport 74%1 Assets under development GGIAL Goa Airport c.100%3 100% Groupe ADP GMR Group Incl. GMR Enterprises Public 32.3% CAPITAL 45.7% ECO. INTEREST* 33.8% CAPITAL 27.1% ECO. INTEREST* 33.9% CAPITAL 27.2% ECO. INTEREST* GNIAL Nagpur Airport Listed - ISIN: INE776C01039 GMR Airports Limited GMR Airports: main assets & subsidiaries STRUCTURE Company Activity 2025 Traffic Ownership (New GIL) Consolidation method (by GAL) Functional Currency(1) Capacity End of concession Delhi International Airport Ltd. (DIAL) Delhi airport management 78.2 Mpax 74%1 Full consolidation INR 100 Mpax 2036+30y Hyderabad International Airport Ltd. (GHIAL) Hyderabad airport management 31.1Mpax 74% Full consolidation INR 34 Mpax 2068 PT Angkasa Pura Aviasi Medan airport management 7.0 Mpax 49% Equity accounting IDR 10 Mpax 2047 GMR Airport Developers Limited (GADL) Airport project management - 100% Full consolidation INR - - GMR Goa International Airport Limited (GGIAL) Goa airport management 5.1 Mpax c.100%3 Full consolidation INR 8 Mpax 2059+20y GMR Nagpur Inter. Airport Limited (GNIAL) Nagpur airport management - - Full consolidation INR 4 Mpax 2055 MAIN ASSETS * incl. OCRPS Preference Shares, convertible in ordinary shares and giving right to dividend and excl. FCCBs conversion2 1. Completed acquisition of 10% stake of DIAL from Fraport Group, taking GAL’s ownership to 74%, see March 7th 2025 announcement. 2. In the event the convertible bonds “FCCBs”, issued by GAL (erstwhile GIL) in March 2023, are converted into ordinary shares, 5-8% ownership could be assigned to the bond holders depending on conversion date ; economic interest of other parties would evolve accordingly. 3. Government of Goa owns one share Brownfield asset: pending operations takeover
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FY 2025 RESULTS GROUPE ADP 39 Groupe ADP 33.8% CAPITAL 33.9% CAPITAL POST MERGER SHARE CAPITAL STRUCTURE* 32.3% CAPITAL POST MERGER ECONOMIC INTEREST* Groupe ADP 27.1% ECO. INTEREST 45.7% ECO. INTEREST Listed - 13,163,416,832 shares GMR Airports Limited Listed - 10,558,975,952 shares GMR Airports Limited *excl. FCCBs1 & OCRPS conversion *excl. FCCBs conversion2 Public GMR Group Incl. GMR Enterprises Public Our stake is structured in two types of instruments : Ordinary shares & Preference shares (OCRPS) Ordinary shares Tradable on the stock markets – no lockup period Ordinary shares & OCRPS as if converted (Optionally Convertible Redeemable Preference Shares) Right to dividend & convertible1 in ord. shares Positioning our partner GMR Group as the largest single shareholder in management control… … while maintaining Groupe ADP’s substantial economic interest (45.7%) GMR Group Incl. GMR Enterprises 27.2% ECO. INTEREST 3,410,614,011 ord. shares (25.9%) + 2,604,440,880 OCRPS (19,8%) 3,410,614,011 ordinary shares GMR Airports: capital & economic interest structure 1 - Convertible at any point if necessary to maintain the agreed “shareholding ratio“ with GMR, or at maturity. 2 - In the event the convertible bonds “FCCBs”, issued by GAL (erstwhile GIL) in March 2023, are converted into ordinary shares, 5-8% ownership could be assigned to the bond holders depending on conversion date ; economic interest of other parties would evolue accordingly.
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FY 2025 RESULTS GROUPE ADP 40 Products: down €(13)M due to the end of certain Hub One contracts and the delivery of a project by Hologarde Rec. EBITDA: down €(15)M due to revenue decline and the decrease in compensation products relating to the CDG Express project Op. income: down €(15)M Other activities – FY 2025 Income statement FY 2024 Products (5) Hub One (8) Others FY 2025 Products 189 176 -6.9% (in millions of euros) FY 2025 FY 2024 FY 2025/FY 2024 Products 176 189 (13) (6.9)% Hub One 163 168 (5) (3.0)% Rec. EBITDA 23 38 (15) (39.5)% Operating income from ordinary activities 2 17 (15) (88.2)% Rec. EBITDA / Products 13.1% 20.1% (7.0)pts - Op. income from ordinary activities / Products 1.1% 9.0% (7.9)pts - PRODUCTS (€M)
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FY 2025 RESULTS GROUPE ADP 41 Debt position & repayment schedule 31/12/2025 30/06/2025 31/12/2024 Net debt (€M) of which ADP SA 8,625 7,238 8,702 7,143 8,572 6,972 Adjusted net debt1 excluding fair value of FCCB derivatives 8,057 8,219 8,050 Share of fixed-rate debt2 of which ADP SA 89% 98% 89% 98% 86% 95% Average maturity of which ADP SA 5.9 years 5.5 years 6.4 years 6.0 years 5.9 years 5.4 years Average cost of which ADP SA 2.9% 2.1% 2.9% 2.1% 3.1% 2.0% Rating (S&P) A- / Stable A- / Stable A- / Stable Principal repayment schedule excluding interest as of 31/12/2025 in €M 110 459 129 133 119 106 152 176 515 615 763 513 763 513 813765 138 56 2026 2027 2028 2029 1,513 2030 2031 2032 93 2033 2034 1,050 2035-2038 Groupe ADP excl. TAV Airports and AIG TAV Airports Other debts 1. See definitions in the appendix of this presentation and in the Universal Registration Document. 2. After rate swap NET DEBT POSITION AS OF 31/12/2025
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FY 2025 RESULTS GROUPE ADP 42 2025 Pioneers strategic roadmap indicators No. Key performance indicator and 2025 objective Scope ONE AMBITION – Imagining the sustainable airport of tomorrow The strategic axis One Ambition aims for (i) excellence and sustainability of operational and construction methods, (ii) inno vation in hospitality at airports, and (iii) the development of new transport services and airport connections. 1 Ensure that 65% of flights depart on time or within 15 minutes of the scheduled time. Airports controlled within Groupe ADP Partially achieved – At Paris-Orly, punctuality surpassed the target set, driven by the optimisation of operational processes and better coordinat ion of operations in real time. At Paris -Charles de Gaulle, punctuality continues to be affected by exogenous factors, in particular the regulation of air traffic at European and national level, as well as capacity restrictio ns and weather conditions. 2 Reduce average carbon emissions per flight by 7% at Paris -Charles de Gaulle and Paris -Orly. Paris-Orly, Paris-Charles de Gaulle Partially achieved – Despite gradual fleet renewals and increased use of optimised taxiing practices (using N -1 engine practices), the objective was only partially achieved due to longer taxiing times at Paris -Charles de Gaulle and for wide-body aircraft at Paris-Orly. 3 Set a carbon budget for the life cycle of all investment projects over €5 million. Aéroports de Paris and TAV Airports Achieved – Groupe ADP deployed a steering tool for ADP SA that includes the setting of a carbon budget over the life cycle of all invest ment projects over €5 million. Completion of the roll -out of the international asset management tool in 2025. 4 Provide 50% of international passengers at Paris -Orly and Paris-Charles de Gaulle with biometric facilitation in their departure journey. Paris-Orly, Paris-Charles de Gaulle Not achieved – The biometric facilitation offering is mainly based on PARAFE equipment, which has eligibility and availability constraints. 5 Aim for excellence in hospitality. • Place Paris-Charles de Gaulle among the top 10 in the Skytrax ranking of the world's best airports, as well as 4 airports in t he top 50 and 8 airports in the Top 100. All Groupe ADP's airports Achieved – In 2025, Groupe ADP recorded very solid results in terms of service quality, illustrated by increased recognition in the inte rnational Skytrax rankings. Eight Group airports are among the top 100 in the world, with Paris -Charles de Gaulle confirming its position as best European airport for the fourth year running and seventh best in the world, while Paris -Orly maintains its position in the top 30 in the world. • Achieve an ACI/ASQ score of 4 for passenger satisfaction. Airports controlled, with traffic >3m PAX Partially achieved – International airports scoring above 4 out of 5. Paris -Charles de Gaulle and Paris-Orly reached record levels in 2025, surpassing the target of 4 out of 5 in several key facilities (notably international Terminal 1, Terminal BD and Orly 3). However, achievement of the overall target was held back by the impact of certain ongoing works. The progress made w ith respect to the human dimension, fluidity and ease of use was nonetheless encouraging. Renovation projects for boarding lounges and operational excellence initiatives (naming, connecting passengers, etc.) are scheduled and aim at improv ing the passenger experience. 6 Deploy the Extime Retail and Hospitality concept in Paris and initiate the deployment of the franchise in two terminals outsi de the Parisian hubs. Paris and International Achieved – The Extime Retail & Hospitality concept was rolled out at Paris -Charles de Gaulle and Paris-Orly, accompanied by the development of the Extime ecosystem and the continued integration of Private Suite. 7 Set the Parisian airports at the best European level in terms of train -air connection by increasing the number of train -aircraft connecting passengers by 50% at Paris-Charles de Gaulle and by doubling it at Paris-Orly. Parisian airports Partially achieved – The target was achieved at Paris-Orly. At Paris-Charles de Gaulle, the target was partially achieved, despite positive moment um, due to the lack of new rail infrastructure at this stage. Ongoing projects, including the CDG Express, should strengthen the multimodal offering by 2027. 8 Use 10% of low-carbon energy in terminals and airside zones, almost double compared to 2019, and 40% excluding landing and take -off. Controlled airports and with ACA ≥ 3 in 2021 Achieved – Groupe ADP has increased the proportion of low -carbon energy used in terminals and airside to 10% and 40% respectively, exclu ding the landing and take-off phases. This improvement stems from the increase in low -carbon energy use at Paris airports, supplemented by the purchase of biomethane guarantees of origin across the Paris airports. 9 Open the new multimodal hub at Paris-Orly, with the opening of the line 14 station, in 2024 and make it possible to open or buil d eight additional public transport lines to connect the Parisian airports to the neighbouring areas. Parisian airports Achieved – Airport accessibility was improved with the commissioning of new collective transport services, including the opening of metr o line 14 at Paris-Orly and several bus lines serving Paris-Charles de Gaulle, as well as ongoing major infrastructure projects (CDG Express, metro lines 17, 18 and the Roissy -Picardie line). 10 Preserve 25% of land for biodiversity at Paris-Charles de Gaulle and 30% at Paris-Orly and Paris-Le Bourget, and set a course fo r the Group's airports to improve their biodiversity index by 2030. The 23 airports committed to the Airports for trust charter Achieved – Commitments to preserve dedicated biodiversity areas were incorporated into the airport master plans, with 25% of the areas a t Paris-Charles de Gaulle and 30% at Paris-Orly and Paris-Le Bourget airports. The Group has also adopted biodiversity commitments, defining a trajectory to improve its carbon footprint by 2030.
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FY 2025 RESULTS GROUPE ADP 43 2025 Pioneers strategic roadmap indicators ONE GROUP – Building a global, integrated and responsible group The strategic axis One Group aims to ( i) consolidate the Group's network (ii) mobilise and pool the Group's expertise by strengthening business lines and (iii) deve lop a multi-local Group, respectful of regional and cultural diversity. 11 Stabilise the average maturity of our concession portfolio at 30 years. All airports under concession (excluding Paris) Surpassed – The average maturity of the concession portfolio is more than 31 years, supported by the successful tender for the Ankara airport concession, the extension of existing concessions (notably Amman and Northern Macedonia), targeted disposals of assets with shorter maturities, and the operational performance of very long-term concessions, including Almaty. 12 Open 100 additional international routes to increase connectivity within our regions. All airports Surpassed – 1,148 international routes were in operation in 2025, representing 155 additional routes improving the connectivity in the regions served by the Group. 13 Develop the smartisation of the Group's airports with three airports at "Full Digital" level and 100% of the others at “Digital Friendly” level. Airports controlled, with traffic >4m PAX Achieved – The airport smartisation strategy progressed in line with targets, with three Full Digital airports and six Digital Friendly airports. 14 Support the widespread introduction of continuous landing procedures between 2023 and 2025 at Paris-Charles de Gaulle and Paris-Orly. Paris-Orly, Paris-Charles de Gaulle Achieved – The Group fully supported the widespread introduction of continuous descent procedures, with operational roll-outs at Paris-Orly airport, while preparatory work continues at Paris-Charles de Gaulle. 15 Promote the completion of 80% of local purchases in the Paris region, including 20% from SMEs, in compliance with public procurement legislation. Aéroports de Paris Surpassed – Performance was driven by the increased use of the local purchasing centre's simplified procedure for expenses totalling less than €100,000, which facilitates access for local SMEs. Alongside this initiative, a reduction in direct payment terms for subcontractors from 60 to 30 days was tested in 2025, with a widespread roll-out planned for 2026. SHARED DYNAMICS – Innovate, support & empower The strategic axis Shared dynamics aims to ( i) promote an innovative and agile approach to projects, (ii) attract and retain talents and (iii) develop a culture of respon sibility promoting civic engagement among each individual employee. 16 Deploy 120 experiments in societal, environmental and operational innovations by 2025, 30 of which will lead to industrialisa tion. Aéroports de Paris, TAV Airports, Hub One Surpassed – 191 experiments in societal, environmental and operational innovations were deployed, 37 of which leading to industrialisatio n. The industrialised projects have helped to improve the performance of airside operations and optimise overall processes. These innovations have also enriched the customer experience, both for B2B and B2C segments and for border operati ons. 17 Carry out at least one employee shareholding operation by 2025. Aéroports de Paris Achieved – An employee shareholding scheme was successfully rolled out using a two -phase approach. The first phase involved the distribution of three free shares to all employees in 2023, promoting initial access to employee share ownership. This was supplemented by the second phase of the employee shareholding scheme in 2025, comprising a preferential purchase price offer for shares, accompanied by a matching contribution mechanism. The scheme recorded a 73% par ticipation rate, testifying to the commitment of employees. 18 Include an ESG element in the compensation of all employees. Aéroports de Paris, TAV Airports, AIG Achieved – A CSR criterion has been integrated into employee compensation at the Group's main entities: since 2023 at ADP SA and AIG, an d extended to TAV Airports in 2025. 19 Increase the number of employee civic engagement days by a factor of five, to 5,000 over the 2022 -2025 period. Aéroports de Paris Surpassed – Employee civic engagement has grown steadily since 2022, leading the Group to significantly surpass the target set. Over the 2022-2025 period, a total of 5,367 days of civic engagement were carried out, surpassing the target of 5,000 days. This progress stems from the strong long -term positioning of structural measures, notably through end -of-career sponsorship and regular mobilisation of employees around unifying events dedicated to civic engagement. 20 Educate 100% of employees on best ethical and compliance practices. Aéroports de Paris, TAV Airports, AIG Achieved – Ethics and compliance training covers 100% of employees in the Group's main entities.
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FY 2025 RESULTS GROUPE ADP 44 Financial indicators: ◆ Recurring EBITDA (previously referred to as “EBITDA”) is an accounting measure of the operating performance of Aéroports de Paris and its subsidiaries. It comprises revenue and other recurring operating income less operating purchases and expenses from ordinary activities, excluding depreciation and impairment of property, plant and equipment and intangible assets. ◆ EBITDA margin corresponds to: recurring EBITDA/revenue. ◆ Gross debt as defined by Groupe ADP includes long- and short-term borrowings and debt (including accrued interest and any related hedging derivatives with a negative fair value and lease liabilities), liabilities related to minority puts (presented in Other payables and Other non-current liabilities). ◆ Net debt as defined by Groupe ADP refers to gross debt less any related hedging derivatives with a positive fair value, cash and cash equivalents and restricted bank balances. ◆ Adjusted net debt as defined by Groupe ADP refers to net debt less the fair value of derivative instruments granted to third parties which, if exercised, do not involve an outflow of cash for the Group. ◆ Net debt/recurring EBITDA is the ratio corresponding to: net debt/recurring EBITDA, which measures the Company's ability to repay its debt based on its recurring EBITDA. Definition and accounting of Alternative Performance Measures (APM) as well as the segmentation of Group activities presented in this press release are fully published in the Group's Universal Registration Document. It is available on the Group’s website: https://www.parisaeroport.fr/en/group/finance/amf- information Operating indicators: ◆ Extime Paris spend/pax or Spend per Extime Paris passenger corresponds to: Revenue in airside activities: shops, bars and restaurants, foreign exchange and tax refund counters, commercial lounges, VIP reception, advertising and other paid services in the airside area/departing passengers at Paris Aéroport. ◆ Group traffic includes traffic from airports operated by Groupe ADP in full ownership (including Almaty) or under concession, receiving regular commercial passenger traffic, excluding airports under management contracts. As of the date of this press release, it includes traffic from the following airports. Historical data from 2019 onwards is available on the Company’s website. Definitions
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FY 2025 RESULTS GROUPE ADP 45 Financial calendar (Subject to change) NEXT FINANCIAL PUBLICATIONS 2026 First-quarter revenue GROUPE ADP IS SCHEDULED TO ATTEND THE FOLLOWING CONFERENCES/EVENTS Broker Event Date UBS Business Services, Leisure and Transport Conference - Virtual 04 March 2026 Barclays Business Services, Leisure, Transport & Infrastructure Conf. - London 10 March 2026 Bank of America Energy, Utilities and Infrastructure conference 26 March 2026 February traffic April 28th, 2026 March 16th, 2026
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FY 2025 RESULTS GROUPE ADP 46 Disclaimer This presentation does not constitute an offer of, or an invitation by or on behalf of Aéroports de Paris to subscribe or purchase financial securities within the United States or in any other country. Forward-looking disclosures (including, if so, forecasts and objectives) are included in this press release. These forward-looking disclosures are based on data, assumptions and estimates deemed reasonable at the diffusion date of the present document but could be unprecise and are, either way, subject to risks. There are uncertainties about the realization of predicted events and the achievements of forecasted results. Detailed information about these potential risks and uncertainties that might trigger differences between considered results and obtained results are available in the latest available universal registration document, filed with the French financial markets authority, and if applicable updated in the latest half-year financial report, both retrievable online on the AMF website www.amf-france.org or Aéroports de Paris website www.parisaeroports.fr. Aéroports de Paris does not commit and shall not update forecasted information contained in the document to reflect facts and posterior circumstances to the presentation date. About Groupe ADP Groupe ADP designs and operates airports responsibly in Paris and around the world. In 2025, it welcomed nearly 379 million passengers across its network of 26 airports, including more than 106 million at its three airports in the Paris region, Paris-Charles de Gaulle, Paris-Orly and Paris-Le Bourget, where the passenger experience is provided by Paris Aéroport. Boasting extensive expertise thanks to its international workforce – including a team of more than 6,000 in Paris – Groupe ADP strives to offer its passengers the highest standards of service and hospitality, while pursuing a strategy focused on performance and the decarbonisation of all its airport activities. The Group is transforming its airports into multi-energy, multi-modal hubs to pave the way for a low-carbon aviation industry and better connect France’s regions. Internationally, Groupe ADP has two strategic partnerships with a complementary geographic presence: TAV Airports in Turkey and the Middle East and GMR Airports in India and South-East Asia. In 2025, Group revenue stood at €6,704 million and attributable net income at €382 million. Registered office: 1 rue de France – 93290 Tremblay en France, France. A public limited company (Société Anonyme) with a share capital of €296 881 806 euros. Registered in the Bobigny Trade and Company Register under no. 552 016 628. Find our news on : www.groupe-adp.com | @GroupeADP | Groupe ADP Investor Relations contacts: Press contact Cécile Combeau Eliott Roch Justine Léger + 33 6 32 35 01 46 + 33 6 98 90 85 14 +33 1 74 25 23 23 invest@adp.fr finance.groupeadp.fr Pictures: © Aéroports de Paris – Groupe ADP