Slides
Page 1
2026 9-months revenue October 22 nd, 2026 conference call on October 23 rd, 2026
Page 2
9M 2026 REVENUE GROUPE ADP 2 2025 Full -year Highlights 01 9-months highlights & revenue 01
Page 3
9M 2026 REVENUE GROUPE ADP 3 Growth supported by international activities, in a difficult environment 9M HIGHLIGHTS Operational trends: Revenue growth primarily driven by TAV Airports Traffic growth impacted by persistent geopolitical and operational disruptions Retail activity in Paris showing resilience, despite conjunctural headwinds 2027-2034 ERA project advancing towards a signature by year -end: Majority positive vote from airlines’ consultations on Sept. 7th & 8th ERA submission by the French State to ART, for its formal opinion by Nov. 18 th International business developments : Bhogapuram Airport (India) inaugurated ; GAL capital rebalancing ongoing KEY FIGURES 287.3 Mpax 80.9 Mpax +0.1% -0.4% Group traffic Paris traffic €31.1 -0.7% Extime Paris SPP €5,106M +1.4% Consolidated revenue 2026 ASSUMPTIONS & TARGETS Paris traffic in slight decrease vs. 2025 Rec. EBITDA 1 Lower end of the range €2.3bn to €2.35bn Dividend payout2 60% of net result floor at €3.00 per share 1. Excluding any potential impact from the French 2027 draft Finance Bill on the 2026 full-year results, notably changes increase to the Infrastructure tax (TEILTLD). 2. Ordinary dividend calculation to exclude any impact from GMR Airports equity sale.
Page 4
9M 2026 REVENUE GROUPE ADP 4 1. Detailed indicators on Paris Aéroports’ traffic are available on slide 19. 2. In 2026, Delhi & Hyderabad traffic has been impacted by the conflict in the Middle-East (since March 2026), the reshuffling of IndiGo flight schedule (since Dec. 2025) and the closure of Pakistan airspace to Indian airlines (since May 2025). 9M 2026 traffic: diversified portfolio supporting resilience In Mpax / all X.X% vs. 9M 2025 Gradual recovery of Middle East routes since May Lower demand, higher fuel costs and airline capacity adjustment Orly 1 airside & runway 4 refurbishment works at Paris-Orly AIG (Amman airport) Traffic impacted by the Middle-East conflict TAV Airports Strong summer traffic momentum and resilient demand across the network, despite high inflation in Turkey Limited direct exposure to the Middle East conflict GMR Airports Solid underlying traffic dynamics Operational and geopolitical headwinds (Delhi & Hyderabad)2 Group traffic : up 0.1% at 287 Mpax, with TAV Airports traffic offsetting the decline at Paris Aéroport Paris Aéroport 1: down 0.4%, impacted by softer demand and operational constraints 81.2 2025 80.9 9M 2026 107.0 87.4 2025 89.4 9M 2026 113.1 2025 9M 2026 122.8 90.1 90.0 7.3 2025 6.6 9M 2026 9.8 -0.4% +2.6% -0.4% -9.6%
Page 5
9M 2026 REVENUE GROUPE ADP 51. 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 stabilizing, with Q3 surpassing Q2 Quarterly SPP9M SPP €31.3 2025 9M 2026 Q1 Q2 Q3 Q4 Q3 SPP grew year-on-year and showed sequential improvement vs Q2 level… Encouraging trends at selected luxury brands Negative FX effect from euro appreciation creating a tough year-on year comparison, progressively easing through the year …while the context remains challenging Less favourable traffic mix, reducing exposure to high- spending passengers Temporary impact from terminal 2EK refurbishment works €31.1 (0.7)% 9M
Page 6
9M 2026 REVENUE GROUPE ADP 6 Revenueup 1.4% to €5,106M AVIATION in Paris, up€26M (+1.6%) reflecting the effect of 2025 airport fee increase by +4.5% on Q1 2026 and tariff freeze since April 2026, the cumulative impact of the PRM fee increases in Q1 2025 (full-year effect) and in Q1 2026 despite lower traffic (-0.4%). RETAIL & SERVICES up €3M (+0.2%), impacted by retail slowdown in the Parisian airports and headwinds in hospitality from PEG’s downturn in demand and fromP/S’ acquisition accounting, offset by the growth in regulated services activities (car parks, industrial services, rental revenue). INTERNATIONAL up€44M (+2.7%) : TAVAirports’ revenue up€72M (+5.2%), thanks to supportive servicescompanies’ revenue (HAVAS+€14M, BTA+€30M, TAV OS+€3M) except TAV IT (-€21M) and airportsassets’ revenue (Ankara+€14M, Almaty+€8M, Izmir+€3M). AIG’s revenue down -€28M (-12%), due to a bad traffic momentum at Amman (-9.6%) from of its geographical exposure to the Middle East. 72 9M 2025 Revenue 26 Aviation (40) Retail activities 43 Other retail & services 3 Real estate TAV Airports 5,037 5,106(28) AIG 0 Other International (7) Other activities and eliminations 9M 2026 Revenue Retail & Services International and airport development In €M / all X.X% vs. 9M 2025
Page 7
9M 2026 REVENUE GROUPE ADP 7 Outlook 03 Outlook 02
Page 8
9M 2026 REVENUE GROUPE ADP 8 2026 traffic assumptions, forecasts and targets1 Dividend payout: 60% of net result Dividend floor at €3.00 per share of which ADP SA Capex c.1,000 MILLION EUROS Group Capex c.1,450 MILLION EUROS Net debt / Rec. EBITDA C.3.8x Incl. selected international growth projects ASSUMPTIONS & TARGETS CAPITAL ALLOCATION Ordinary dividend policy : Ordinary dividend calculation to exclude any impact from GMR Airports equity sale Outlook Paris traffic slight decrease vs. 2025 Extime Paris SPP c.€32.0 Cost savings & efficiency €40M-€60M Rec. EBITDA lower end of the range €2,300M-€2,350M Excluding any potential changes of the infra tax1 The outlook presented below accounts for the cost-saving and efficiency measures implemented by the group as well as for the prolonged nature of the Middle-East conflict and its broader consequences 1. Excluding any potential impact from the French 2027 draft Finance Bill on the 2026 full-year results, notably an increase to the Infrastructure tax (TEILTLD).
Page 9
9M 2026 REVENUE GROUPE ADP 9 2027-2034 ERA reaching final approval stage and laying the foundations for Groupe ADP’s next strategic cycle 2027 START OF ERA ART Binding opinion on the whole ERA proposal Agreement with the French State 29th Jul. Airlines consultation: majority positive vote 7th & 8th Sept. ✓ ✓ ERA submission to ART 18th Sep. ✓ 2 months Signing of the ERA (subject to a positive opinion of ART and approval by ADP’s Board of Directors) 1st Jan. 1st Apr. 2027 Start of the 2027 Tariff Period as set under the ERA The Economic Regulation Agreement will provide the visibility required to invest with discipline, enhance the performance of Paris airports and support their decarbonisation and competitiveness FOUNDATION FOR GROUPE ADP’S 2027-2030 STRATEGIC PLAN AND FINANCIAL TRAJECTORY (EARLY 2027) by 18th Nov.
Page 10
9M 2026 REVENUE GROUPE ADP 10 Appendices 04 Appendices 2026 9-months revenue 03
Page 11
9M 2026 REVENUE GROUPE ADP 11 Paris Aéroport: traffic growth LOAD FACTOR 84.1% -0.7 pt Recovery in mainland domestic traffic (+2.5%) Mixed trends in traffic with North America: - USA: down 3.3%, 8.3% of Paris traffic - Canada: up 0.7%, 2.8% of Paris traffic Asia Pacific traffic growing with: - China up 4.8%, 1.5% of Paris traffic, (i.e 68.1 % recovery vs. 2019) Currently c.55 weekly frequencies vs. c.80 in winter 2019. Going forward: new request by Air China for more frequences to be decided by DGAC. - Japan: up 2.3%, 0.8% of Paris traffic vs. 9M 2025 CONNECTING RATE LOW-COST TRAFFIC 20.2% +0.1 pt 30.8% +0.9 pt vs. 9M 2025 Mainland France French Overseas T. Europe Africa North America Asia-Pacific Latin America Middle-East Paris Aéroport Other international 80.9 Mpax + 2.5 % + 3.0 % (0.7)% 0.0 % + 0.7 % (1.5)% (3.3)% (12.9)% (0.4)% (1.7)% 9M 2026 Traffic growth vs. 9M 2025 10.9% 4.6 % 45.4 % 39.1 % 13.9 % 11.9 % 2.8 % 4.5 % 6.1 % Share of 9M 2026 traffic 1 Number of connecting pax. out of the number of departing pax.
Page 12
9M 2026 REVENUE GROUPE ADP 12 Passenger traffic 26/25 change (in %) Aircraft movements 26/25 change (in %) Paris-CDG 54,406,286 -0.2% 357,317 +0.2% Paris-Orly 26,479,545 -0.9% 163,696 0.0% Total Paris Aéroport 80,885,831 -0.4% 521,013 +0.1% Antalya 30,144,861 -3.3% 173,713 -4.2% Almaty 9,467,687 +4.1% 75,207 +4.2% Ankara 11,313,547 +8.5% 70,252 +5.5% Izmir 10,266,205 +7.0% 62,459 +6.4% Bodrum 3,918,114 +5.4% 24,012 +3.9% Gazipaşa 730,297 -7.9% 4,695 -7.7% Medina 8,656,066 +1.7% 59,391 +4.8% Tunisia 2,733,058 +4.4% 18,089 +3.7% Georgia 5,189,819 +2.7% 50,144 +5.0% North Macedonia 3,331,685 +28.9% 22,147 +10.0% Zagreb 3,622,554 +1.1% 38,284 -2.6% Total TAV Airports 89,373,893 +2.6% 598,393 +1.7% New Delhi 59,693,595 +4.2% 354,218 +6.4% Hyderabad 20,840,442 -10.3% 137,902 -12.9% Goa 3,565,063 -1.9% 24,266 -4.5% Nagpur 645,498 -3.7% 5,583 +6.3% Bhogapuram 282,999 - 2,252 - Medan 4,984,847 -5.9% 38,512 -2.3% Total GMR Airports 90,012,444 -0.4% 562,733 -0.2% Santiago de Chile 19,455,820 -2.3% 119,828 -1.6% Amman 6,601,412 -9.6% 54,534 -8.0% Madagascar1 980,224 -0.7% 11,000 +0.6% GROUPE ADP 287,309,624 +0.1% 1,867,501 +0.2% Group traffic in 9M 2026 1. Antananarivo & Nosy Be airports
Page 13
9M 2026 REVENUE GROUPE ADP 13 Revenue: up€26M driven by: The increase in revenue from ancillary fees, up 5.4%, linked to the average increase of +4.5% in aeronautical fees applicable since 1st April 2025, including notably the increase by 25% of the PRM fee1 since April 1, 2025, and 15% since April 1, 2026 ; The increase in revenue from airport safety and security services, up 3.5% driven by the costs of these activities, which increased following the salary reform at ADP SA. Aviation – 9M 2026 Income statement 12 14 9M 2025 Revenue Airport fees Ancillary fees Revenue from airport safety and security services 1 Other products 9M 2026 Revenue 1,640 (1) 1,666 REVENUE(€M) +1.6% (in millions of euros) 9M 2026 9M 2025 9M 2026/9M 2025 Revenue 1,666 1,640 +26 +1.6% Airport fees 999 1,000 (1) (0.1%) Passenger fees 662 662 - -% Landing fees 208 207 +1 +0.5% Parking fees 130 130 - - Ancillary fees 235 223 +12 +5.4% Revenue from airport safety and security services 411 397 +14 +3.5% Other income 21 20 +1 +5.0% 1. Fee for assistance for disabled persons and persons with reduced mobility
Page 14
9M 2026 REVENUE GROUPE ADP 14 Retail and services – 9M 2026 Income statement Revenue: up€3M, driven by: Extime Duty Free Paris, down€26M driven by construction work at certain terminals, the appreciationof the euro compared to early 2025, the overall slowdown in growth in the luxury goods sector, and reduced traffic with Middle Eastern countries Advertising, up€8M due to the intensification of certain campaigns early in the year Hospitality and other retail revenue, down €27M due to a negative accounting effect of (13) million euros compared to the first half of 2025 related to the acquisition of P/S, and a negative contribution from PEG, primarily due to a decline in business activity amid an unfavorable geopolitical environment. 11 29 9M 2025 Revenue (26) Extime Duty Free Paris 2 Extime Travel Essentials Paris (18) Other retail activities 2 Car parks and access roads 3 Industrial services Rental income Others 9M 2026 Revenue 1 612 1 615 +0.2% (in millions of euros) 9M 2026 9M 2025 9M 2026/FY 2025 Revenue 1,615 1,612 +3 +0.2% Retail activities 1,085 1,125 (40) (3.6)% Extime Duty Free Paris 605 631 (26) (4.1)% Extime Travel Essentials Paris 150 148 +2 +1.4% Other Shops and Bars & restaurants 101 98 +3 +3.1% Advertising 53 45 +8 +17.8% Société de Distribution AéroportuaireCroatie 16 16 - - Hospitality and other retail revenue 160 187 (27) (14.4)% Car parks and access roads 139 137 +2 +1.5% Industrial services revenue 169 166 +3 +1.8% Rental income 170 159 +11 +6.9% Other income 52 23 +29 +126.1% REVENUE(€M)
Page 15
9M 2026 REVENUE GROUPE ADP 15 Retail and services subsidiaries Company Activity Notes Ownership 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 Experience 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.
Page 16
9M 2026 REVENUE GROUPE ADP 16 Real estate– 9M 2026 Income statement Revenue: up€3M, driven by: External revenue, up€4M notably from buildings acquired and commissioned, and from the revaluation of certain rents. Internal revenue, down€1M 7 9M 2025 Revenue (3) Land Buildings Other external revenue (1) Internal revenue 9M 2026 Revenue 274 277 (in millions of euros) 9M 2026 9M 2025 9M 2026/FY 2025 Revenue 270 274 +3 +1.1% External revenue 237 233 +4 +1.7% Land 94 97 (3) (3.1)% Buildings 92 92 - -% Others 51 44 +7 +15.9% Internal revenue 40 41 (1) -2.4% REVENUE(€M) +1.1%
Page 17
9M 2026 REVENUE GROUPE ADP 17 International and airport development– 9M 2026 Income statement 72 9M 2025 Revenue (28) AIG TAV Airports 0 Others 9M 2026 Revenue 1,631 1,675 +2.7% Revenue: up€44M, driven by : TAV Airports revenue, up 5.2%, thanks to the increase in revenue for airport services and airport assets companies within TAV Airports AIG revenue, down 12.2%, due to the decline in traffic (-9.6%) since geopolitical tensions in the Middle East escalated in March. (in millions of euros) 9M 2026 9M 2025 9M 2026/FY 2025 Revenue 1,675 1,631 +44 +2.7% ADP International 214 241 (27) (11.2)% of which AIG 202 230 (28) (12.2)% TAV Airports 1,461 1,389 +72 +5.2% REVENUE(€M)
Page 18
9M 2026 REVENUE GROUPE ADP 18 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 companiesmay have local subsidiaries using other functionalcurrencies. 2. On 28 July 2026, TAV Airports signed a contractto acquire a 15% stake in Almaty Airport from its co-shareholderfor USD133 million, thereby increasingits stake to 100% upon closing. 3. The 49% stake of TAV Airports in TAV Antalya gives the same governancerights as Fraport, as well as 50% of dividends. 4. In application of IAS 28, income or loss of Tibah Developmentwill be netted-off fromTAV’s loan to Tibah Development,as financial income or expense and are not accountedunder equity accountedinvestees. 5. MZLZ is a 100%-owned subsidiaryof ZAIC-A, in which TAV Airports holds 15,81% of the capital, and ADP Internationalholds 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 governancerights as Fraport, as well as 50% of dividends.
Page 19
9M 2026 REVENUE GROUPE ADP 19 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) 113 112 - 118 Intl Pax (m) 75 72 - 77 Revenue (€m) 1.823 1.880 – 1.980 EBITDA (€m) 560 580 - 630 Capex (€m) 201 Less than 300 Verifier avec TAV
Page 20
9M 2026 REVENUE GROUPE ADP 20 GHIAL Hyderabad Airport PT Angkasa Pura Av. Medan Airport GADL Engineering 74% 49% DIAL Delhi Airport 74%1 GGIAL Goa Airport c.100%3 100% Groupe ADP GMR Group Incl. GMR Enterprises Public 29.6% CAPITAL 43.0% ECO. INTEREST* 32.5% CAPITAL 26.3% ECO. INTEREST* 37.9% CAPITAL 30.7% ECO. INTEREST* GNIAL Nagpur Airport Listed - ISIN: INE776C01039 GMR Airports Limited GVIAL Bhogapuram Airport GMR Airports Ltd (GAL): 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 - c.100%3 Full consolidation INR 4 Mpax 2056+30y GMR BhogapuramInter. Airport Ltd. (GVIAL) Bhogapuramairport management - c.100%3 Full consolidation INR 6 Mpax 2063+20y MAIN ASSETS * incl. OCRPS PreferenceShares, convertiblein ordinary shares and giving right to dividend and excl. FCCBs conversion2 1. Completedacquisitionof 10% stake of DIAL from Fraport Group, takingGAL’s ownershipto 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 dependingon conversiondate ; economicinterest of other parties would evolve accordingly. 3. Governmentof Goa (GGIAL), Governmentof MIL (GNIAL) and Governmentof AP (GVIAL) awn one golden share. Operated by GMR since 25 June 2026 c.100%3 c.100%3 Operated by GMR since 17 August 2026
Page 21
9M 2026 REVENUE GROUPE ADP 21 Partial disposal of the stake in GMR Airports Ltd (GAL) Transaction rationale Part 1 Part 2 Part 3 Sale of a 3.4% stake in GAL for €256M on April 23, 2026 Options to sell a 3.9% stake in GAL for c.€285M1 by April 2027 Early repayment of theFCCBs issued by GAL for €291M plus interest, by March 2027 Additional dividend of €0.8/share paid on 4th June 2026, for FY25 Potential additional dividend of €1.0/share2 in 2027, for FY26 or FY27 924 568 Net debt as of 2025-end Cash proceeds1 178 Dividend distributions to shareholders2 Extinction of FCCB-related derivatives3 Pro forma net debt4 8,625 7,311 I. Rebalancing economic exposure III. Material value crystallization IV. Balanced capital allocation II. Strategic partnership preserved + And partial return to shareholders: Strong improvement of Groupe ADP net debt by April 20273 Groupe ADP’s illustrative net debt All things being equal, pending completion of all steps and AGM approval on dividend distributions 1. Post-tax amounts, based on an INR/USD = 93.3 as of 22 April 2026 and USD/EUR = 1.17 as of 23 April 2026. 2. Subject to completion of the 2nd step of the agreement, and to the vote by ADP' shareholders in the AGM approving the 2026 results. As a special dividend for FY 2026, or as interim dividend for FY 2027 to ADP shareholders, depending on the closing date of the transaction. 3. As of 31 December 2025, net debt includes the fair value of derivatives related to the FCCB convertible bonds (call option held by GMR-E and put option held by ADP) corresponding to a net liability of c.€568m. These will be extinguished upon completion of Step 3. 4. Illustrative 2025 net debt restated as if all planned steps of the agreement were completed, based on FX rates as of agreement date. 3.7x 3.1x Net debt/ 2025 rec. EBITDA In €M
Page 22
9M 2026 REVENUE GROUPE ADP 22 GMR Airports Ltd (GAL): Conversion of OCRPS1into ordinary shares highlighting ADP’s substantial economic exposure to GAL 1 - Optionally Convertible Redeemable Preference Shares representing the economic equivalent of 2.60bn ordinary shares, right to dividend & convertible in ordinary shares at any point if necessary to maintain the agreed “shareholding ratio“ with GMR, or at maturity. 2 –Excluding FCCBs. In the event the convertible bonds “FCCBs”, issued by GAL (erstwhile GIL) in March 2023, are converted intoordinary shares, 5-8% ownership could be assigned to the bond holders depending on conversion date ; economic interest of other parties would evolve accordingly. Share capital Ordinary Shares 2 Economic interest Ordinary shares & OCRPS as if converted 2 28.9% 38.3% 32.8% 43.0% 30.7% 26.3% 29.6% 37.9% 32.5% 43.0% 30.7% 26.3% 3.4% of ordinary shares sold to GMR 102m share eq. OCRPS converted 3.9% of ordinary shares to be sold to GMR 10.56bn shares 2.60bn OCRPS ADP Gradually converting remaining OCRPS 10.66bn shares 2.50bn OCRPS 10.66bn shares 2.50bn OCRPS Timeline 25.7% 41.8% 32.5% 39.8% 33.8% 26.3% GMR Group Public 23 Apr. 2026 29 Sep. 2026 By Mar. 2027 Following the April 2026 transaction, part of ADP's OCRPS were converted into ordinary shares to maintain the agreed shareholder structure while preserving economic exposure
Page 23
9M 2026 REVENUE GROUPE ADP 24 Products: down€2M Other activities– 9M 2026 Income statement 6 9M 2025 Products (10) Hub One Others 9M 2026 Products 124 120 -1.6% (in millions of euros) 9M 2026 9M 2025 9M 2026/9M 2025 Products 120 124 (2) (1.6)% Hub One 107 117 (10) (8.5)% PRODUCTS(€M)
Page 24
9M 2026 REVENUE GROUPE ADP 25 30/06/2026 31/12/2025 30/06/2025 Net debt (€M) of which ADP SA 9,052 7,099 8,625 7,238 8,702 7,143 Adjusted net debt 2 excluding fair value of FCCB derivatives 8,346 8,057 8,219 Share of fixed -rate debt 3 of which ADP SA 92% 98% 89% 98% 89% 98% Average maturity of which ADP SA 5.5 years 5.3 years 5.9 years 5.5 years 6.4 years 6.0 years Average cost of which ADP SA 3.0% 2.2% 2.9% 2.1% 2.9% 2.1% Rating (S&P) A- / Stable A- / Stable A- / Stable 520 323 159 192 178 616 765 513 763 513 813752 517 5954 20261 1291 2027 2028 2029 2030 115 2031 105 2032 94 2033 2034 2035-2038 1,514 1,650 Groupe ADP excl. TAV Airports and AIG TAV Airports Other debts 1. 750M€ bonds maturing in 2026 were bought back on 3rd July 2026. 2. See definitions in the appendix of this presentationand in the Universal RegistrationDocument. 3. After rate swap NET DEBT POSITION AS OF 30/06/2026 Cash & Debt position as of 30 June 2026 Principal repayment schedule excluding interest as of 30/06/2026 in €M 2 531 500 RCF Cash & cash equivalent Available cash
Page 25
9M 2026 REVENUE GROUPE ADP 26 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
Page 26
9M 2026 REVENUE GROUPE ADP 27 Financial calendar (Subject to change) NEXT FINANCIAL PUBLICATIONS 2026 Full-Year GROUPE ADP IS SCHEDULED TO ATTEND THE FOLLOWING CONFERENCES/EVENTS Broker Event Date CIC 9-months lunch – Paris 05 November 2026 JP Morgan Group Investor trip – Paris 17 November 2026 Deutsche Bank BTL conference – London 24 November 2026 CIC CIC Forum – Paris 08 December 2026 ODDO BHF ODDO BHF Forum – Lyon 07 January 2027 Barclays Back to school call – Virtual 08 January 2027 October traffic February 10 th, 2027 November 16 th, 2026
Page 27
9M 2026 REVENUE GROUPE ADP 28 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