Updated February 2018 2017 Investor Toolbox
TABLE OF CONTENTS GROUPE ADP PRESENTATION 2 GROUPE ADP BUSINESS MODEL 14 2017 FINANCIAL RESULTS 23 2018 FORECASTS 33 CAPITAL ALLOCATION 35 2016-2020 COST CUTTING PLAN 40 FOCUS ON OUR 5 ACTIVITIES Aviation 43 Retail & services 50 Real estate 62 International and airport developments 71 Other activities 83 QUALITY OF SERVICE & CORPORATE SOCIAL RESPONSIBILITY 91 APPENDICES 93 IR TEAM 94 Toolbox 2017 1
01 GROUPE ADP PRESENTATION
PARIS AIRPORT SYSTEM IS THE ONLY ONE OF ITS KIND IN EUROPE PARIS AEROPORT PARIS-LE BOURGET Largest business airport in Europe Industrial and aeronautical area Convention centre PARIS-CHARLES DE GAULLE Europe's 2 nd busiest airport, 10 th busiest in the world in terms of passenger numbers 2 nd busiest airport in Europe for cargo and mail handling PARIS-ORLY Europe's 12 th busiest airport in terms of passenger numbers 4 runways, 2 independent parallel pairs Skyteam hub for international and connecting traffic FEDEX's cargo hub 3 runways Close to Paris - large catchment area Rapid turnaround of mediumhaul and particularly low-cost flights Toolbox 2017 3
GROUPE ADP HAS STRONG ASSETS TO FACE COMPETITION AND CATCH GLOBAL GROWTH THANKS TO ITS POTENTIAL PARIS AEROPORT First class infrastructure No runway constraint, with a unique system in Europe of 2 sets of independent parallell runways Terminal capacity optimisation and potential A privileged geographic position Paris as a major touristic destination Development of CDG Express to connect to Paris in 20 min Value-creating business model Ajusted till regulation model Visibility thanks to 5-year 2016-2020 Economic Regulation Agreement Unique positioning in Retail offering Provide the Ultimate Parisian Shopping Experience Continuing improvement of the retail offering among terminals and junction buildings Real Estate potential and Land reserves Development of our airport cities 360 ha of land reserves dedicated to real estate Toolbox 2017 4
PARIS-CHARLES DE GAULLE AIRPORT MAP PARIS AEROPORT Toolbox 2017 5
AN AIRPORT SYSTEM EQUIPPED WITH EFFICIENT RUNWAYS A PARALLEL RUNWAY SYSTEM AT PARIS-CDG LIKE NO OTHER IN EUROPE PARIS AEROPORT NO RUNWAY RESTRICTIONS IN PARIS 4 runways at Paris-CDG Paris-CDG, a SYSTEM that is UNIQUE in Europe 3 runways at Paris-Le Bourget 3 runways à Paris-Orly 2 independent parallel pairs of runways (+1 runway at Bourget) 120 movements per hour potential of 135 movements per hour Comparison of the runway systems of other major hubs Airport Existing runways ATM/h (2016) Paris-CDG 4 2 independent parallel pairs of runways 120 Paris-Orly 3 not independent 72 London- Heathrow 2 independent 112 Frankfurt 4 not independent 100/102 Madrid 4 independent 100 Amsterdam 6 not independent 100 Istanbul Ataturk 3 not independent 58 Comparison of the runway systems of other major hubs Airport Existing runways ATM/h (2016) Paris-CDG 4 Los Angeles 4 Atlanta 5 2 independent parallel pairs of runways 2 independent parallel pairs of runways 2 independent parallel pairs of runways + 1 paralell runway 120 176 238 Toolbox 2017 6
CONTINUE OUR COMMITMENT TO THE CDG EXPRESS PARIS AEROPORT A project to improve the access to Paris-Charles de Gaulle by proposing a high-quality train to ease the passengers travel from Paris to our airport. High-standards dedicated rail link Expected date of completion 2023 Total potential CAPEX Around 1.6 billion (1) Improved passenger experience: Direct train Travel time: 20 min 2 years of preparation 6 years of construction, predominantly at night Partnership: ADP and SNCF Réseau Call for tenders for an operator Frequency: every 25 minutes (1) This amount is expressed in euros 2014 and is for the whole project Toolbox 2017 7
CDG EXPRESS: 2017, YEAR OF DEVELOPMENT OF THE PARIS AIRPORTS EFFECTIVE LAUNCH OF CDG EXPRESS (1) PARIS AEROPORT Financing: State appointed single lender of the project (December 2017) Construction: colocation of the Groupe ADP and SNCF Réseau technical teams on a common platform in Saint-Denis (December 2017) Operation: State launches the consultation process to appoint the rail operator (July 2017) (1) See projected schedule in appendix Toolbox 2017 8
CDG EXPRESS PROJECT: OVERALL SCHEDULE PARIS AEROPORT 2014 2015 2016 2017 2018 End 2023-start 2024 CDG Express Creation of project studies company Feasibility studies Traffic and infrastructure studies Financial arrangements Launch of consultation to appoint the operator Start of rail network works Commissioning of CDG Express Confirmation of the legal structure planned by the French Council of State and the European Commission Jan.: Order allowing the establishment of the ADP/SNCF Réseau project company in charge of constructing the infrastructure Jun-Jul.: Public inquiry Dec.: Approval by Parliament of the Act relating to a rail link between Paris and Paris-CDG Airport Dec.: Decision on the project financing arrangements and creation of air passenger tax in the 2016 French Budget Amendment Act March: Publication of new Declaration of Public Interest June: Approval by the European Commission of the business plan in terms of regulations on State aid Dec. 2017: State appointed single lender of the project Toolbox 2017 9
UNIQUE POTENTIAL FOR AERONAUTICAL DEVELOPMENT IN PARIS LAUNCH OF DETAILED STUDIES IN 2018 PARIS AEROPORT Capacity reservess 4 parallel runways Unique in Europe Increased traffic Global traffic doubles every 15 years Need for new terminals New terminal at Paris- CDG 1 st delivery in 2023-2024: 7 to 10 million passengers 30 to 40 million passengers welcomed in the future Toolbox 2017 10
PARIS-ORLY AIRPORT MAP PARIS AEROPORT Toolbox 2017 11
PARIS-ORLY, IN DEEP TRANSFORMATION BETWEEN NOW AND 2020 PARIS AEROPORT PARIS-ORLY Increase the capacity of Paris-Orly to accommodate UP TO 32.5MPAX 2016 2019 International boarding lounge East Pier 12 aircrafts stands Junction building Baggage handling 4 mixed aircraft stands Plans for Paris-Orly with the One Roof Project Toolbox 2017 12
INTERNATIONAL FOOTPRINT 2017 PASSENGER TRAFFIC GROUPE ADP France Paris-CDG: 69.5mpax Paris-Orly: 32.0mpax Owner and operator Schiphol Group (8%) 68.5mpax Industrial cooperation Liège (25.6%) Strategic partner Zagreb (ADP 21% & TAV 15%) 3.1mpax Operator and partner Macedonia (100%) Skopje & Ohrid: 2.0m pax Concession operator Georgia (76%) Tbilisi & Batumi: 3.7 mpax Concession operator Turkey 96.7 mpax Istanbul Ataturk, Ankara, Izmir, Gazipasa & Bodrum Concession operator Conakry (29%) 0.5 mpax Operator Amman Jordan (9.5%) 7.9 mpax Management contract Strategic partner TAV Airports ADP Airports TAV + ADP Santiago de Chili (45%) 21.4 mpax Concession operator Tunisia (67%) Enfidha & Monastir 1.7 mpax Concession operator Madagascar 1.1 mpax Concession operator Jeddah (Terminal Hajj) Saudi Arabia 8.0 mpax Management contract Mauricius (10%) 3.7 mpax Operator Strategic Partners Medinah (Saudi Arabia) (33%) 7.8 mpax Concession operator It should be noted that TAV Airports gained concessions of 3 airports in Saudi Arabia (Yanbu, Qasim and Haij) on 8 June 2017. Toolbox 2017 13
02 A RESILIENT BUSINESS MODEL
A DYNAMIC SECTOR THANKS TO GLOBAL TRAFFIC GROWTH BUSINESS MODEL The global traffic in the world is expected to nearly double by 2030 Bn Pax 7 billion 3.7 billion 1.6 billion 0.9 billion 0.4 billion Source : ADP / SIMCA-DIIO APG 2014 / OACI / Airbus / Boeing / Growth of Global GDP of 3 % between 2015 and 2035 (consensus OCDE, HIS) Toolbox 2017 15
BUT AN INCREASINGLY COMPETITIVE LANDSCAPE FROM ALL OVER THE WORLD BUSINESS MODEL An increasing competition from the Middle East hubs on connecting traffic mpax In connection Source : ADP SIMCA Diio end of 2017 Toolbox 2017 16
CONNECT 2020 BY GROUPE ADP OUR STRATEGIC PLAN TO FACE COMPETITION AND PROMOTE OUR AMBITION BUSINESS MODEL OPTIMISE A confirmed business model, with an industrial strategy that encourages local and sector competitiveness and with a strict financial discipline policy, focused on productivity ATTRACT Working proactively on our Quality of Service and Route development to become the number one choice for our customers EXPAND A value-creating business model that spans all of its activities, strongly rooted in territories, with a controlled international development BE A LEADING GROUP IN AIRPORT DESIGN AND OPERATION OPTIMISE ATTRACT EXPAND Toolbox 2017 17
GROUPE ADP AT A GLANCE IN 2017 (BEFORE ANY TRANSACTION) BUSINESS MODEL Aéroports de Paris SA (parent company) (1) Subsidiaries & Associates (2) Aviation Retail & Services Real Estate International and Airport Developments Other Activities Construction and management of Parisian airports 3 major airports: Paris- Charles de Gaulle, Paris-Orly and Paris-Le Bourget 10 regional airfields All commercial activities Rents from shops and B&R concessions Car parks Rentals for offices and lounges within terminals Industrial services Real estate activities outside terminals Aeronautical RE with direct access to runways (maintenance hangars, cargo) Diversification real estate (offices, malls and hotels) Airport engineering ADP Ingénierie (100%) Airport management ADP International (100%) Schiphol Group (8%) TAV Airports (38% 46.12% after transaction on 7/7/17) Airport construction TAV Construction (49%) (3) Sold 20/7/17 Telecom Hub One (100%) Security Hub Safe (20%) Sold of 80% on 29/9/2017 (4) Revenue EBITDA Op. Inc. Ord. Act. Revenue EBITDA Op. Inc. Ord. Act. Revenue EBITDA Op. Inc. Ord. Act. Revenue EBITDA Op. Inc. Ord. Act. Revenue EBITDA Op. Inc. Ord. Act. 1,813m 551m 272m 953m 533m 404m 250m 209m 161m 682m 252m 186m 217m 25m 9m Total Groupe ADP in 2017 Revenue: +22.7% to 3,617m (5) - EBITDA: +31.1% to 1,567m Operating income from ord. act.: +55.1% to 1,030m - Net result attributable to the Group: +31.2% to 571m (1) Including retail and real estate joint ventures (2) Associates include TAV Airports @38% over the S1 2017 and Schiphol (8%) and are accounted for using the equity method (3) The increase in TAV Construction's exposure to non-airport building projects have led Groupe ADP's management to engage, at the end of December 2016, the sale of its 49%-stake in the holding that owns 100% of TAV Construction. (4) Results from Hub Safe activity has been accounted for as non-operational activities since 29 September 2017 (5) Including 298m of intersegment eliminations and Media Aéroports de Paris fully consolidated Toolbox 2017 18
AN «ADJUSTED TILL» MODEL THAT CREATES VALUE ON BOTH SCOPES VALUE DRIVERS BUSINESS MODEL ON REGULATED SCOPE Optimisation of value drivers Growth in TRAFFIC Increase in TARIFFS Control over OPEX Control over CAPEX ON NON REGULATED SCOPE Continued strategy of development RETAIL INTERNATIONAL DEVELOPMENT INCREASE & OPTIMISATION of retail spaces COMPETENCES CONTROL REFINEMENT OF THE OFFERING by broadening the product range Taking advantage of positive PASSENGER TRAFFIC-MIX Ability to use the combination of Groupe ADP skills Generate opportunities for our expert subsidiaries GROWTH Be in a position to bring value creation and risks control, PROFITABILITY DIVERSIFICATION REAL ESTATE Prepare the future with AIRPORT CITIES In geographies where the traffic perspective is faster than in Parisian airports Risk diversification Generation of higher investment return than in Paris Toolbox 2017 19
Aviation activities Non-aviation activities 6,0% 5,0% 4,0% 3,0% 2,0% 1,0% 0,0% A VALUE-CREATING REGULATION MODEL BASED ON ADJUSTED TILL PROVIDING VISIBILITY OVER THE NEXT 5 YEARS (2016-2020) 2020 TARGETS Adjusted till model Regulated scope Aeronautical fees (passenger, landing, parking fees) Ancillary fees (1) (check-in desks, luggage sorting systems, de-icing) Non-regulated scope Revenue from airport safety and security services 800 700 600 500 400 300 200 100 0 WACC (2) = 5.4% 3,8% 379 4,5% 538 650 CPI +0.97% 732 CPI +1.25% 606 CPI +1.25% 464 CPI +1.25% 2015 2016 2017e 2018e 2019e 2020e Regulated ROCE 2020 5,4% Car parks Industrial services Rental revenue Commercial activities Diversification real estate Regulated CAPEX 2016-2020 in m 2016, pricing changes and regulated ROCE Regulated ROCE Tariffs increase cap (CPI+1.00% CAGR 2016-2020 ) Airport real estate Subsidiaries and associates Regulated CAPEX CONVERGENCE of regulated ROCE to the level of the WACC in 2020 at 5.4% (1) Excluding fees for disabled person (PHMR) (2) Methodology consistent with that outlined in the Public Consultation Document for the 2016-2020 ERA available at www.groupeadp.fr Toolbox 2017 20
2016-2020 ERA RELIES UPON A BALANCED EQUATION, CENTER OF OUR INDUSTRIAL STRATEGY 2020 TARGETS 2020 target ROCE of regulated scope = WACC 5.4% TARIFFS STRUCTURE AND INCENTIVES PRICE EFFORTS FOR AIRLINES CAGR 2016-2020 = CPI+ 1.0% OPERATIONAL NEEDS QUALITY OF SERVICE REGULATORY CHANGES ECONOMIC ENVIRONMENT TRAFFIC ASSUMPTION CAGR 2016-2020 = +2.5% International traffic CAGR 2016-2020 = +3.6% CONTROL OVER REGULATED OPEX OPEX / PAX 2020 : -8% vs 2015e REGULATED CAPEX 3.0bn (1) Excluding fees for disabled person (PHMR) Toolbox 2017 21
2020 TARGETS OF GROUPE ADP (1) DRIVERS OF OUR DEVELOPMENT STRATEGY 2020 TARGETS Traffic growth assumption: +2.5% CAGR 2016-2020 Convergence of regulated ROCE (2) to the WACC (3) Cost cutting plan RETAIL REAL ESTATE 5.4% in 2020e Limit the growth in parent-company operating expenses to a level below or equal to 2.2% in average per annum between 2015 and 2020 Revenue per passenger of 23 on a full-year basis after delivery of the 2016-2020e projects Growth in external rents (excluding reinvoicing and indexation) ranging from 10% to 15% between 2014 and 2020e QUALITY OF SERVICE Overall ACI/ASQ (4) rating of 4 in 2020e +30 to +40% growth in consolidated EBITDA (5) between 2014 and 2020e (1) 2020 targets remains as explained in the strategic plan, Connect 2020, independently of the effect of the full consolidation of TAV airports (2) Return on capital employed calculated as the ratio of after-tax operating income to the Regulated Asset Base (3) Weighted average cost of capital (4) Airport Quality of service indicator (Airport Service Quality) made by Airport Council International (5) Target to be completed annually by an annual forecast (5) Independently of the full consolidation of TAV Airports in 2 nd half of 2017 Toolbox 2017 22
03 2017 FULL YEAR FINANCIAL RESULTS
2017 SOLID PERFORMANCE TO ENSURE LONG-TERM GROWTH FY 2017 RESULTS / Solid performance / Strong growth in Groupe ADP traffic (+7.4%) including a 4.5% increase for Paris Aéroport and a 9.8% increase for TAV Airports Improvement of all financial indicators Continued control over expenses Payout ratio of 60% of total net result attributable to the Group / A base for long-term growth / Sale of assets that are not aligned with the Group's strategy (sale of TAV Construction and 80% of Hub Safe) Continued investment in Paris airports to accommodate increasing traffic Group's international development: investment in TAV Airports thus facilitating its full consolidation into Groupe ADP's financial statements and investment project for Amman Airport in Jordan Innovation Hub: dynamic programme to conceive and develop the airport of tomorrow Toolbox 2017 24
2017 A YEAR OF INTERNAL AND EXTERNAL GROWTH FY 2017 RESULTS / REVENUE / EBITDA M 2,947 +22.7% 3,617 616 Effect of the increased stake in TAV Airports as at H2 2017 1,195 +31.1% 1,567 280 Effect of the increased stake in TAV Airports as at H2 2017 +1.8% +7.7% 3,001 1,287 EBITDA/CA (2) % 40.6% 42.9% 2016 2017 2016 2017 / OIFOA (1) 664 +55.1% 1,030 Effect of the increased stake in TAV Airports as at H2 2017 63 (3) 125 (4) / NET RESULT ATTRIBUTABLE TO THE GROUP 435 +31.2% 571 Effect of the increased stake in TAV Airports as at H2 2017 63 (3) 5 (5) +26.8% 842 OIFOA/CA (2) % 22.5% 28.1% +15.5% 503 2016 2017 (1) Ordinary Income from ordinary activities including operating activities of associates (2) Margin excluding full consolidation of TAV Airports (3) Gain from the re-valuation of the 38% stake in TAV Airports for 63 million linked to the increase of ADP s stake in TAV Airports (4) The full consolidation of TAV Airports leads to take into account TAV's total operating income from ordinary activities for the second half-year ( 149 million), less the amount that would have been accounted for using the equity method in the absence of the supplementary stake in TAV Airports (i.e. 38 % of TAV Airports net income for H2 2017, amounting to 24 million) (5) TAV's NI after PPA as at H2 2017 at 46% ( 29 million), minus the reduction of 24 million corresponding to 38% of the TAV Airport's net income for H2 which would have been recognised in the absence of the supplementary stake in TAV Airports 2016 2017 Toolbox 2017 25
NRAG OIFOA EBITDA Revenue IMPROVEMENT FOR ALL FINANCIAL INDICATORS IN A CONTEXT OF GROWTH IN TRAFFIC AND MAJOR OPERATIONS FY 2017 RESULTS Traffic-driven revenue Increase in airport fees (+5.2%) driven by traffic dynamics and improvements in the traffic mix Increased retail activities (+2.2%), stable sales per passenger Contribution of the full consolidation of TAV Airports in the 2 nd half-year: 616 million Excluding the full consolidation of TAV Airports, revenue increased by 1.8% 2,947 +22.7% +1.8% 3,617 616 3,001 m Effect of the increased stake in TAV Airports as at H2 2017 2016 +31.1% 2017 Growth in EBITDA EBITDA increased by 31.1%, thanks to traffic dynamics, the full consolidation of TAV Airports and control of the group's operating expenses (+0.1%) 63 million gain linked to the long-term leasing of buildings in the cargo hub by FedEx (according to IAS 17), with no impact on the cash position 1,195 +7.7% 1,567 280 1,287 Effect of the increased stake in TAV Airports as at H2 2017 Excluding the full consolidation of TAV Airports, EBITDA increased by 7.7% 2016 2017 Operating income from ordinary activities sustained by the reorganisation of international activities Operating income from ordinary activities increased by 55.1% Positive impact of the sale of TAV Construction: 12 million Provision on international stake accounted for during the first half-year: 46 million Contribution of the full consolidation of TAV Airports, of which 63 million is linked to the re-valuation of the stake in TAV Airports, amounting to 188 million (1) 664 2016 +55.1% +26.8% 1,030 188 842 2017 Effect of the increased stake in TAV Airports as at H2 2017 Increase in net result attributable to the Group Net increase in income tax of 58 million: linked to the corporate income tax amounting to 82 million, due to the increase in income before tax and the 2017 surcharge on income tax, partially offset by the reevaluation of deferred taxes (Finance Act 2018) minored by the reimbursement of taxes on dividends for 24 million Capital gain, net of disposal fee, from the sale of Hub Safe for 27 million 435 +31.2% +15.5% 571 68 503 Effect of the increased stake in TAV Airports as at H2 2017 2016 2017 (1) Contribution of the full consolidation of TAV Airports to Groupe ADP's operating income from ordinary activities breaks down as follows: (a) TAV Airport's operating income from ordinary activities at 100% for 149 million as at H2 (b) plus the capital gain from the re-evaluation of the 38% stake in TAV Airports for 63 million linked to the increased stake (c) less the 24 million corresponding to 38% of the TAV Airport's net income as at H2 which would have been recognised in operating income from ordinary activities in the absence of the supplementary stake in TAV Airports Toolbox 2017 26
GROUPE ADP TRAFFIC INCREASED BY 7.4% GROUPE ADP IS BENEFITING FROM GOOD INTERNATIONAL DYNAMICS FY 2017 RESULTS / ADP VS PEERS mpax 2017 / 2016 Paris-CDG+ORY London-Heathrow 102 78 +4.5% +3.1% Dynamism of Paris Aéroport traffic CDG: +5.4% at 69.5 mpax Amsterdam-Schiphol 69 +7.7% ORY: +2.6 % at 32.0 mpax Frankfurt-Fraport Istanbul-Ataturk 65 64 +6.1% +5.5% Positive traffic mix: 6.2% increase in international traffic Continued dynamism of low-cost airlines: +8.8% Madrid-Adolfo Suarez 53 +5.9% Groupe ADP(1) of which TAV @100% 115 228 +7.4% +9.8% 228 mpax welcomed in Groupe ADP s airports in 2017, an increase of 7.4% Fraport Group(1) AENA Group 149 249 +10.8% +8.2% Growth in traffic for Groupe TAV Airports: +9.8% at 115.0 mpax (1) Traffic weighted by the percentage of shares held please refer to slide 27 Toolbox 2017 27
GROWTH IN PARIS AÉROPORT TRAFFIC (PARISIAN AIRPORTS) IN 2017 DRIVEN BY THE DYNAMISM OF INTERNATIONAL TRAFFIC FY 2017 RESULTS Total traffic International traffic (1) Connecting rate (2) Load factor 101.5 mpax 40.0% + 4.5 % +6.2% 23.1% -0.8pt 85.0% +3.5pt North America 10.0% +6.9% France Europe 16.3% 43.8% +1.0% +4.2% French Overseas Territories 4.1% +4.8% Latin America Africa 11.3% +7.8% Middle East 5.1% +8.9% Asia/ Pacific 6.4% +4.1% China: +5.7% Japan: +6.2% % Paris Aéroport (Paris airports) total traffic (departures and arrivals) 2017 / 2016 change in Paris 3.1% +0.7% (1) Excluding France and Europe (2) Number of connecting passengers out of the number of departing passengers Toolbox 2017 28
REVENUE INCREASED 670 MILLION TO 3,617 MILLION DYNAMISM OF AERONAUTICAL ACTIVITIES FY 2017 RESULTS / CONSOLIDATED REVENUE: + 22.7 % Revision of internal rents (with no impact on Group revenue) m Aviation: +4.0% Retail & Services: +1.2% Decrease in activity at ADP Ingénierie Deconsolidation of Hub Safe in Q4 3,617 2,947 52 10 7 4 5 2 13 31 6 23 3,001 +1.8 % 616 +5.2% +4.6% +1.6% +1.6% -4.8% -32.0% 2016 revenue Aviation fees Ancilliary fees Revenues linked to safety and security serivces Airside shops Other shops, bars & restaurants, other retail activiites Other retail and services Real estate International (excl. TAV) Other activities Intersegment eliminations Revenue before FC of TAV TAV Airports over H2 2017 2017 revenue Traffic growth in volume: +4.5% Favourable traffic mix: international traffic increased by 6.2% Slight increase in retail activities thanks to the performance of airside shops (+1.6%), landside shops (+5.4%) and bars & restaurants (+10.2%) Toolbox 2017 29
INCREASE IN EBITDA IN 2017 THANKS TO TRAFFIC DYNAMICS AND CONTROL OVER EXPENSES FY 2017 RESULTS Control of Groupe ADP's operating expenses: +0.1% before full consolidation of TAV Airports Operating expenses of ADP SA: +0.3% m Of which 63 million capital gain from Cargo Hub 1,567 +7.7% 280 1,195 54 7 18 9 12 2 40 1,287 +5.8% +2.7% -1.2% -4.5% -9.4% 2016 EBITDA Growth in revenue in 2017 excl. TAV Airports FC) Raw materials and consumables used External services Staff costs Taxes other than income taxes Other operating expenses Other incomes and expenses 2017 EBITDA (excl. TAV Airports FC) TAV Airports EBITDA 2017 EBITDA Data before full consolidation of TAV Airports in the 2nd half-year 2017 Toolbox 2017 30
BACK TO GROWTH FOR TAV AIRPORTS IN 2017 FY 2017 RESULTS / GROWTH IN ALL INDICATORS FOR TAV AIRPORTS In m (unless otherwise stated) TAV AIRPORTS 2017 2017/2016 Passengers (mpax) 115 +9.8% Revenues 1,139 +2.1% EBITDA 481 +14.7% EBITDA/Revenue (%) 42,3% +7.7% Net result @100% 185 +54,9% / CONTRIBUTION OF THE FULL CONSOLIDATION OF TAV AIRPORT DURING THE SECOND HALF-YEAR In m Before PPA (1) After PPA (1) Revenue 617 616 EBITDA 282 280 Operating income from ordinary activities 210 149 2017 results for TAV Airports TAV Airport's total traffic expected to increase between 6% to 8% actual 10% International traffic at Istanbul Ataturk expected to increase between 4 to 6% actual 7% Istanbul Ataturk international Point to Point passenger traffic expected to increase between 6 and 8% actual 9% Revenue +2.1% to 1,139 million thanks to a recovery in passenger traffic and ground handling despite the weak Turkish Lira and the sale of part of BTA's logistics EBITDA: +14.7% to 481 million thanks in particular to a reduction in expenses Net result @100% 119 70 Net result attributable to Groupe ADP 51 29 (1) Price Purchase allocation Toolbox 2017 31
NET INCOME ATTRIBUTABLE TO THE GROUP INCREASED BY 136 MILLION IN 2017 FY 2017 RESULTS Positive impact of the non-renewal in 2017 of the exceptional impairment linked to TAV C in 2016 Negative impact of the non-renewal in 2017 of the capital gain from the sale of Mexican airports in 2016 (- 58 million) OIFOA (1) Increase in income before tax and surcharge on income tax in 2017 partially offset by the reevaluation of deferred taxes reimbursement of tax on dividends -10-3 80-58 29 571 7-40 503 63 92-24 435 2016 net result EBITDA Depreciation and amortisation Op. associates (excl. impact of the stake increase in TAV) Other operating incomes and expenses Financial result Non-op. associates Income tax Net result excl. impact of the stake increase in TAV Elimination of TAV net result @38% for H2 2017 Capital gain linked to the stake increase in TAV TAV net result @46% after PPA 2017 net result (1) Ordinary Income from ordinary activities including operating activities of associates Toolbox 2017 32
04 2018 FORECASTS
2018 FORECASTS 2018 FORECASTS Group traffic Traffic growth assumption for Paris Aéroport between +2.5% and + 3.5% Traffic growth assumption for TAV Airports between +10% and +12% 2018 EBITDA (1) Consolidated EBITDA: increase of between 10% and 15% in 2018 compared to 2017, with the full-year effect of the full consolidation of TAV Airports and excluding the effects of any change in scope that may occur in 2018 Consolidated EBITDA excluding the full consolidation of TAV Airports: increase of between 2.5% and 3.5% in 2018 compared to 2017 Reminder of the TAV Airports EBITDA (2) 's guidance: increase of between 5% and 7% in 2018 compared to 2017 Proposition (3) of dividend for 2018 Maintaining pay-out of 60% of NRAG (4) 2018 Confirmation of the 2020 targets Maintaining the target of EBITDA growth by 2020 excluding the effect of the full consolidation of TAV Aiports Maintaining all of the other targets of the Connect 2020 Plan (1) TAV Airports' EBITDA guidance, underlying Group's EBITDA guidance, is built on the following exchange rate assumption: EUR/TRY = 4.86 and EUR/USD = 1.22 (2) EBITDA reported by TAV Airports includes the Ankara guaranteed pax revenue and the equity pick-up (3) Submitted for the approval of the Annual Shareholders General Meeting in 2019 called to approve the 2018 financial statements (4) Net result attributable to the Group Toolbox 2017 34
05 CAPITAL ALLOCATION
AN OPTIMISED AND SUSTAINED 2016-2020 CAPEX PROGRAMME OF 4.6 BILLION (1) TO BACK OUR STRATEGY CAPITAL ALLOCATION Regulated CAPEX: 3.0 billion Non-regulated CAPEX: 0.9 billion Security CAPEX: 0.6 billion CAPEX m 2016 Regulated Retail (2) and other non regulated: 0.6bn Diversification Real Estate: 0.4bn Security equipment Standard 3 700 676 538 541 485 203 199 120 99 33 84 101 62 294 270 107 92 187 133 147 168 56 187 179 131 2016 2017 2018e 2019e 2020e (1) ADP SA (mother company), excluding subsidiaries and financial investments. CAPEX breakdown could be revised if necessary. (2) Including Retail works CAPEX estimated at 198m over 2016-2020 Toolbox 2017 36
Maintenance Mise en conformité règlementaire Optimisation des capacités et logique One Roof Amélioration des accès Compétitivité du Hub Qualité de service et développement durable Développement immobilier aéronautique Autres AN AMBITIOUS AND SELECTIVE REGULATED 2016-2020 CAPEX PROGRAMME CAPITAL ALLOCATION 3 PRIORITIES FOR 2016-2020 ERA 984 1 003 969 822 692 634 477 380 139 65 53 159 176 33 225 199 108 90,9 93 20 Maintenance Compliance with regulations Optimisation of capacities and One Roof initiative Improving access Competitiveness of the Hub Service quality and sustainable development Aeronautical real estate development Others 2006-2010 ERA 2011-2015 ERA 2.3 billion (1) 2.0 billion 2016-2020 ERA 3.0 billion Comparison of 2006-2010, 2011-2015 and 2016-2020 ERA investment programmes ( million 2016) (1) 2.3 billion with a scope comparable to that of ERA 2, i.e. an adjusted till system (2) Compared to 2011-2015 ERA Toolbox 2017 37
UNINTERRUPTED GROWTH OF DIVIDEND PER SHARE SINCE 2013 CAPITAL ALLOCATION / DIVIDEND AND NET EARNINGS PER SHARE GROWING SINCE 2013 /share Proposing a dividend of 3.46* in 2017 5.77 +42.7% 4.07 4.35 4.40 3.02 2.44 2.61 2.64 3.46 1.85 2013 2014 2015 2016 2017 Published earnings per share Dividend * Subject to the approval of the Annual Shareholders General Meeting of 2018 Toolbox 2017 38
SOLID FINANCIAL SITUATION AS OF 31 DECEMBER 2017 CAPITAL ALLOCATION / DEBTS REPAYMENT SCHEDULE ( m) 1 910 31/12/2017 31/12/2016 713 163 760 93 495 485 95 85 579 576 585 578 79 76 85 78 682 82 Net debt ( m) Groupe ADP Groupe ADP (excl. TAV A full conso) 3,797 3,144 2,709 Share of fixedrate debt (1) 85% 90% 85% 135 238 138 100 550 667 400 400 500 500 500 500 85 600 38 17 21 Average maturity 6.0 years 5.6 years 5.9 years Average cost 2.6% 2.4% 2.4% Rating (S&P) A+ / stable A+ / stable Cash 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 Excluding TAV Airports: capital excluding interest as of 31 December 2017 Bond redeemed in January 2017 TAV Airports: capital excluding interest as of 31 December 2017 (1) After rate swap Toolbox 2017 39
06 2016-2020 COST CUTTING PLAN
CONTINUED FINANCIAL DISCIPLINE THANKS TO INCREASES IN PRODUCTIVITY COST CUTTING / Reminder ef 2016-2020 ERA commitment of reduction of regulated OPEX/PAX by 8% between 2015 and 2020 / The growth in parent-company OPEX (both regulated & non regulated) should be lower or equal to 2.2% CAGR2015-2020, to be consistent with 2016-2020 ERA commitment Underlying trend driven by: Parent company OPEX (regulated + non regulated) (1) (current m) +3.5% CAGR 2015-2020 Growth in passenger traffic: +2.5% CAGR 2016-2020 Opening of major pieces of infrastructure +2.2% Indexation of subcontracting contracts Employee policy maintained 1 557 Increased control over OPEX in order to meet the commitment of reduction of regulated OPEX/PAX by -8%, allowing: - To avoid the tariff penalty on OPEX of 2016-2020 ERA - To guarantee a regulated ROCE at 5.4 % in 2020 2015 2016 2017e 2018e 2019e 2020e Underlying trend over OPEX, without increased control (infrastructure, current employed policy maintained, indexation of sub-contracting costs) Upper limit of parent-company OPEX, after cost cutting Continued control over OPEX Between 2012 and 2015, growth of parent-company OPEX limited to 1.3% on average per year thanks to the policy of financial discipline 2020 target Limit the growth in parent-company operating expenses to a level below or equal to 2.2% in average per annum between 2015 and 2020 (1) Parent-company (ADP SA) OPEX: (Staff costs (net of capitalised production) without profit share neither employee-related liabilities + other opex + tax other than income tax in current m Toolbox 2017 41
CONTROL OVER EXPENSES TRAJECTORY COST CUTTING Increase in ADP SA's operating expenses is under control (+1.5% per year on average between 2015 and 2017) which is in line with our commitment of control over expenses (+2.2% (1) per year on average between 2015 and 2020) Control of staff costs (more than one third of ADP SA's expenses) Reorganisation of all operational divisions Decrease in staff (departures not replaced, retirement plans, etc.) Control over general wage increases & compensation reforms Approximately 90% of staff affected by restructurings between 2016 and 2020 *ADP SA s gross wage bill -0.4%*/year 2015 2016 2017 A rigorous purchasing policy Continuity of the reduction in purchasing costs initiated during ERA2 Reminder: approximately 500 to 600 million worth of contracts were identified as requiring renegotiation during the ERA3 period (2016-2020) Pooling purchases, systematic renegotiation of contracts reaching maturity Approximately 75% of renegotiations identified as completed by the end of 2018 Accelerated transformation and reduction in expenses Around 20 targeted actions performed or already launched (1) ADP SA's expenses: Purchases, external services, staff expenses (net of capitalised production, excluding profit sharing and employee benefit obligation), excluding amortisation and depreciation Toolbox 2017 42
07 AVIATION
AVIATION MAKE THE MOST OUT OF OUR PARISIAN AIRPORTS AVIATION STRATEGY Ensure OPERATIONAL ROBUSTNESS and strengthen EFFICIENCY Put an emphasis on maintenance and renovation Improve passengers satisfaction Strengthen the competitiveness of the hub and optimise other process Roll out the One Roof concept to optimise our capacities Potential visual of the junction building at Paris-Orly Potential visual of the merger of international satellites of Terminal 1 Toolbox 2017 44
UPDATE IN 2017 OF GROUPE ADP STRUCTURAL PROJECTS FOR THE 2016-2020 PERIOD (1/2) AVIATION Connection of the international satellites of terminal 1 of Paris-Charles de Gaulle Paris-Orly junction building Toolbox 2017 45
UPDATE IN 2017 OF GROUPE ADP STRUCTURAL PROJECTS FOR THE 2016-2020 PERIOD (2/2) AVIATION B-D connection at Paris-Charles de Gaulle Baggage sorting system in Hall L of terminal 2E of Paris-Charles de Gaulle Toolbox 2017 46
GROUPE ADP TRAFFIC MONTHLY CHANGE IN PARIS AÉROPORT TRAFFIC AVIATION / MONTHLY CHANGE IN PARIS AÉROPORT TRAFFIC Mpax Q1 2017: +5.0% 2016: +1.9% Q2 2017: +5.0% 2016: +1.2% Q3 2017: +4.2% 2016: -0.1% Q4 2017: +3.7% 2016: +4.9% Monthly change 10 +10% 9 +8% +6% 8 +4% 7 +2% +0% 6-2% 5 Jan. Fev. Mar. April May June July Aug. Sept. Oct. Nov. Dec. -4% 2016 passenger traffic 2017 passenger traffic 2016 passenger traffic growth 2017 passenger traffic growth Toolbox 2017 47
AVIATION GROUP TRAFFIC BY AIRPORT AVIATION Group traffic (in million passengers) Groupe ADP stake (1) Stakeweighted traffic (mpax) 2017/2016 change (3) Paris Aéroport (CDG+ORY) @ 100% 101.5 +4.5% Zagreb @ 20.8% 0.6 +11.8% Jeddah-Hajj @ 5% 0.4 +2.9% Groupe ADP Amman @ 9.5% 0.8 +6.8% Mauricius @ 10% 0.4 +5.4% Conakry @ 29% 0.1 +23.8% Santiago de Chili @ 45% 9.6 +11.6% Antananarivo & Nosy Be @ 35% 0.4 +6.2% Istanbul Atatürk @ 46.1% 63.7 (@100%) +5.5% Groupe TAV Airports Ankara Esenboga @ 46.1% 15.8 (@100%) +21.5% Izmir @ 46.1% 12.8 (@100%) +6.4% Other airports (2) @ 46.1% 22.6 (@100%) +17.5% TOTAL GROUP (4) 228.2 +7.4% (1) Direct or indirect. Groupe ADP total traffic stands at 259 million passengers, up by 7.4% compared to 2016. (2) Turkey (Milas-Bodrum), Croatia (Zagreb), Saudi Arabia (Medinah), Tunisia (Monastir & Enfidha), Georgia (Tbilissi & Batumi), and Macedonia (Skopje & Ohrid). (3) Excluding stake in Mexican airports, sold in October 2016 ; Calculation taking into account TAV Airports traffic at 100% in 2017. (4) The computation is made according to the following method: traffic from airports that are fully consolidated are taken at 100%, traffic from other airports is taken according to the stake owned Toolbox 2017 48
AVIATION 2017 FINANCIAL STATEMENTS AVIATION / Revenue ( m) / EBITDA & Op. income from operating activities ( m) 1,743 34 +4.0% 8 10 Airport fees: + 52m 10 7 1,813 488 +12.8% 186 + 66m 551 272 27.0 % 10.4 % 28.0 % 10.7 % 28.0 % 10.7 % 30.4 % 15.0 % EBITDA Op. income from operating activities Margin 2016 revenue Passengers (in millions of euros) Landing Parking 2017 2016 2017/2016 Revenue 1,813 1,743 +4.0% Airport fees 1,055 1,003 +5.2% Ancillary fees 230 220 +4.6% Revenue from airport safety and security services 487 480 +1.6% Other income 40 40-1.6% EBITDA 551 488 +12.8% Operating income from ordinary activities (including operating activities of associates) Ancillary fees Revenue from airport safety and security services 2017 revenue 272 186 +46.4% EBITDA / Revenue 30.4% 28.0% +2.4pt Operating income from ordinary activities / Revenue 15.0% 10.7% +4.3pt Main impacts Revenue: + 70m Traffic effect (including mix effect): + 33m; Price effects: + 9m (tariff increase of 0.97% from 1 April 2017) 2016 Growth in ancillary fees from de-icing activities Revenue from airport safety and security services: increase in traffic EBITDA: + 63m 2017 Op. income from operating activities incl. share of associates: + 86m Decrease in amortisation due to the full year effect of the review of the lifespan of some assets occurring at the end of 2016 that translated into a small lengthening of the mean duration of amortisation. Toolbox 2017 49
08 RETAIL AND SERVICES
RETAIL AND SERVICES CONTINUE THE SUCCESS STORY OF RETAIL IN 2016-2020 RETAIL STRATEGY Offer the ULTIMATE PARISIAN EXPERIENCE in shopping and dining Optimise and standardise the offering available in international terminals Develop our brand portfolio Increase awareness before the arrival at the airports Roll out the joint ventures model to Bars & Restaurants Potential picture of retail area of international Terminal 1 Central square of Hall K of terminal 2E Toolbox 2017 51
RETAIL AND SERVICES MAIN ACTIVITIES RETAIL COMMERCIAL ACTIVITIES ADVERTISING BARS & RESTAURANTS SERVICES CAR PARKS Toolbox 2017 52
RETAIL AND SERVICES UNIQUE BUSINESS MODEL CHOOSING THE GOOD PARTNERS RETAIL SHOPS AND ADVERTISING JVs on strategic activities BARS AND RESTAURANTS Operators A 50/50 JV with the best operator in the sector : SDA and Relay@ADP A joint governance Specialized multibrand stores on activities with strong technicality + The best operator downtown EPIGO: New Joint venture with SSP A strong incentive to deliver quality Openings of new shops during H1 2017: Bellota Bellota and Yo Sushi + Brands directly managed on specific formats + Luxury brands directly managed ADVERTISING Média Aéroports de Paris In partnership with JC Decaux Consolidated since 2016 Toolbox 2017 53
Security check / Border Boarding RETAIL AND SERVICES SPECIFIC LAYOUT FOCUSED ON PARIS 56,800 SQ.M DEDICATED TO RETAIL ACTIVITIES RETAIL Last Minute Breathing area WALKTHROUGH Beauty & Arts de vivre Department Store CENTRAL SQUARE Seats, bars & restaurants, services, with shops around LUXURY AREA Last Minute Ambition in Interior Design: THE DEPARTMENT STORE THE PARISIAN SQUARE THE AVENUE To offer a last Parisian shopping experience Toolbox 2017 54
RETAIL AND SERVICES KEY ROLE OF JOINT-VENTURES IN RETAIL RETAIL Core Business & Fashion SDA Press & book, Souvenir Relay@ADP 50/50 partnership with Aelia (Lagardère Services) : equity method Integration of Fashion shops inside SDA beginning of 2012 24,000 sqm at end of 2016 50/50 partnership with Lagardère Services : equity method New and renewed outlets New Souvenir activity «Air de Paris» 7,100 sqm at end of 2016 Toolbox 2017 55
ALL DRIVERS ARE ACTIVATED TO HELP ACHIEVE THE SALES/PASSENGER (1) TARGET FOR 2020 RETAIL Target of 23 sales/passenger for a full year after delivery of infrastructures in 2020 QUALITY OF THE OFFERING Large projects aimed at standardising and expanding our offering in our large international terminals: from the classic duty free to a model similar to large department stores SQUARED METRES Development of airside shops areas & Finalisation of flagship projects (2F2, T1 public zone) Opening of the Beauty Space in Terminal 2E Hall K in March But heavy works in Terminal 2E Hall L Delivery of central area at Paris-Orly Delivery of the main luxury boutiques in Terminal 2E Hall L Delivery of all major projects: Terminal 2E Hall L 2B-2D junction 1 st phase of the T1 connecting building Southern area at Paris-Orly ~+25% main projects over the period ~+15% -3% 2018 2019 2020 TRAFFIC MIX 2016-2020 forecast of +3.6% increase in international traffic (vs. +2.5% increase in total traffic) (*) Changes in sales/passenger primarily depend on a combination of the following three factors: quality of the offering, retail areas and traffic mix. Retail areas only cannot explain the changes in sales/passenger Toolbox 2017 56
THE TERMINAL 2E HALL K FLAGSHIP CONTINUES TO GROW RETAIL New advertising spaces The future Buy Paris Toolbox 2017 57
PROPOSE «THE ULTIMATE PARISIAN DINING EXPERIENCE» REVIEW OF OUR BARS AND RESTAURANTS OFFER IN OUR PARISIAN TERMINALS RETAIL Launch of the JV (1) Epigo in bars and restaurants core business Applying JV system success to Bars & Restaurants Management of 38 shops, Prêt à Manger, Brioche Dorée, Caviar House,... Upmarket strategy in progress for table service Guy Martin s (Michelin-starred chef) restaurant I love Paris awarded Palme d or of the world best restaurant in airports, according to the FAB Awards Opening of the restaurant CUP Paris-Orly Gilles Choukroun s (Michelin-starred chef) restaurant Restaurant I love Paris Restaurant CUP (1) Joint venture Toolbox 2017 58
RETAIL AND SERVICES 2017 FINANCIAL STATEMENTS RETAIL / Revenue ( m) +1.2% 953 / EBITDA & Op. income from operating activities ( m) +1.0% -1.2% 941 4 4 1 Retail act. : + 10m 4 1 5 527 409 533 404 EBITDA Op. income from operating activities 2016 revenue Airside shops Landside shops Bars & restaurants Car park Rental income Other income 2017 revenue 57.7 % 47.1 % 56.0 % 43.5 % 56.0% 43.5% 55.9% 42.4% Margin 2016 2017 (in millions of euros) 2017 2016 2017/2016 Revenue 953 941 +1.2% Retail activities (1) 459 449 +2.2% Car parks and access roads 171 175-2.1% Industrial services revenue 134 133 +0.5% Rental income 147 146 +0.5% Other income 42 38 +11.4% EBITDA 533 527 +1.0% Share in associates and joint ventures from operating activities Operating income from ordinary activities (including operating activities of associates) 3 1 + 2m 404 409-1.2% EBITDA / Revenue 55.9% 56.0% -0.1pt Operating income from ordinary activities / Revenue 42.4% 43.5% -1.1pt Main impacts Revenue: + 12m Retail activities up by 2.2 % Good performance of luxury in airside shops Strong growth in bars & restaurants (+10.2%) thanks to the full year effect of the rolling out of the JV Epigo Partially offset by the negative effect of the reduction in tobacco sales EBITDA : + 6m Op. income from operating activities incl. share of associates: - 5m (1) Rents received from airside and landside shops, bars and restaurants, bank and exchange activities, car rentals and advertising revenue Toolbox 2017 59
RETAIL AND SERVICES FOCUS ON COMMERCIAL RENTS AND SALES/PAX (1) IN 2017 RETAIL / RETAIL ACTIVITIES / SALES/PAX 2017 ( ): STABLE AT 18.2 In m 449 +2.2% 459 33.3 +0.4% 33.0-8.5 % Airside shops: +1.6% 299 303 18.2 18.2 Landside shops: +5.4% Bars & restaurants: +10.2% 18 39 19 42 7.1 7.1-8.3 % Advertising: -0.8% Other income: +1.0% 50 44 50 45 2016-1.8% 2017 2016 2017 (1) Sales/PAX = revenue in airside shops per departing passenger Duty Paid Duty Free Total Toolbox 2017 60
RETAIL AND SERVICES FOCUS ON COMMERCIAL JOINT VENTURES (1) RETAIL In m Revenue (2) EBITDA Net result +7.1% 808 866 24 SDA (Retailing joint venture with Lagardère Travel Retail) 689 73 47 721 83 61 20 18 7 16 12 3 7 3 5 5 6 Revenue up by 4.8 %, driven by the recovery in international traffic Relay@ADP Revenue up by 14.7 %, driven by the optimisation of offering EPIGO Revenue up by 29.6 % due to the full year effect of the roll ou of the joint-venture, in February 2016 2016 2017-5 -4-7 -6 2016 2017 2016 2017 SDA Relay EPIGO (1) Media Aéroports de Paris is now accounted for in global integration and no longer under the equity method. (2) Of joint-ventures @100 % Toolbox 2017 61
9 REAL ESTATE
REAL ESTATE PREPARE FOR THE AIRPORT CITY OF TOMORROW REAL ESTATE STRATEGY Build and retain VALUE CREATION Modernisation of existing assets Development of cargo activities Development of diversification activities Roissypole potential change Groupe ADP headquarters at Paris-Charles de Gaulle Toolbox 2017 63
PURSUANCE OF THE NEW REAL ESTATE STRATEGY IN 2017 WITH NEW PROJECTS LAUNCHED REAL ESTATE Implementation of the Connect 2020 real estate strategy in 2017 Aéronautical real estate Long-term visibility of the cargo thanks to the extension of the FedEx agreement for its European hub up to 2048 Diversifying real estate Deployment of the investor's strategy on all types of assets: le Dôme, Romeo, LBG Arts Toolbox 2017 64
REAL ESTATE MODERNISATION OF ASSETS AND DEVELOPMENT REAL ESTATE GROWTH IN EXTERNAL RENTS (excluding reinvoicing and indexation) Modernisation of assets Improved quality of assets m Demolition and reconstruction 230 220 210 +15% +10% Development of diversification activities 200 190 180 170 External rents (excluding reinvoicing and indexation) Higher range of growth in external rents Airport business district (Roissypole) Hotel activity 160 150 Lower range of growth in external rents 2012 2013 2014 2015e 2016e 2017e 2018e 2019e 2020e Development of cargo activities External rents up 10% to 15% between 2014 and 2020e Toolbox 2017 65
REAL ESTATE A UNIQUE DIVERSIFIED PORTFOLIO OF ASSETS, WITH LIMITED RISK REAL ESTATE AIRPORT RELATED REAL ESTATE DIVERSIFICATION REAL ESTATE Industrial infrastructure supporting players in airport operations: Aircraft maintenance hangars Cargo warehouses External programmes: Offices Retail & hotels Business parks and logistics warehouses ADP land portfolio : 1,310 ha 1,025,000 sqm leased 77 ha 141 ha 226 ha 360 ha 66 ha 440 ha Landbanks 411 ha Land used for ADP buildings 305 ha Land leased to third parties 594 ha 9,000 8,000 17,000 12,000 204,000 312,000 149,000 78,000 126,000 102,000 6,000 1,000 Airport related 444 ha Diversification 866 ha 1,310 ha Airport related 513,000sqm Diversification 474,000sqm Internal rentals Hangars Other buildings Cargo buildings Offices Logistics Toolbox 2017 66
REAL ESTATE A UNIQUE POTENTIAL UPSIDE TO BUILD ON THESE STRENGTHS REAL ESTATE Aéroports de Paris land : 6,686 ha Real estate : 1,310 ha Developed properties (899 ha) Undeveloped properties (411 ha) Leased lands (594 ha) ADP buildings (305 ha) Airport related (77 ha) Diversification (334 ha) Fair value (1) 1,176m (1) 1,130m (2) 146m (1) (1) Estimate as of 31/12/2016 IAS 40 valuation whose method is available in n0ote 6.3.2 of 2016 consolidated financial statement to get on www.groupeadp.fr + value IAS 17 + internal ADP real estate operations (2) value as of December 31, 2016 Toolbox 2017 67
REAL ESTATE HIGH VISIBILITY OF THE RENTS REAL ESTATE A unique lease maturity An average occupancy rate of 92% as of 31/12/2016 Lease maturity by value Physical occupancy rate 55% 95% 96% 90% 13% 14% 18% 87% 2017-2019 2020-2023 2024-2026 2026 et + Business parks / logistics Offices Cargo Hangars Toolbox 2017 68
REAL ESTATE PROJECTS PIPELINE AS AT THE END OF DECEMBER 2017 REAL ESTATE Airport Segment ADP Role Operator Project Opening Floorspace (sq.m.) CDG Diversification Developer Sogafro/SDV Offices and warehouses 2016 37,500 CDG Aeronautical Investor Aerolima Equipment maintenance centre 2016 4,700 CDG Aeronautical Developer Aérostructure Maintenance 2016 19,000 ORY Diversification Developer Accor Hotels 2016 7,400 CDG Diversification Investor Siège social Offices 2017 17,100 CDG Diversification Investor Divers Warehouse 2017 1,000 ORY Diversification Developer Vailog Courier service 2017 17,800 ORY Diversification Developer Groupe Auchan Warehouse 2017 10,800 ORY Diversification Developer Accor Hotels 2017 7,600 ORY Diversification Developer RSF Employee residence 2017 3,700 CDG Diversification Investor Divers Dôme properties 2017 18,500 Total projects comissionned at the end of September 2017 145,100 CDG Diversification Investor Divers Offices 2018 700 CDG Diversification Investor Baïkal Offices 2018 13,500 ORY Diversification Investor Roméo Offices and warehouses 2018 22,300 CDG Diversification Aménageur Aélia Warehouse 2018 6,000 CDG Diversification Developer Holiday Inn Hotel 2018 10,000 CDG Diversification Developer Audi Showroom 2018 4,600 ORY Diversification Developer Bio C bon Warehouse 2018 12,500 CDG Aeronautical Developer FEDEX Extension 2019 48,500 CDG Diversification Investor Innside Hotels 2019 11,400 Ongoing projects 129,500 ORY Diversification Developer Grand frais Warehouse 2019 2,000 LBG Diversification Investor HEKA Chenue Preservation center 2019 24,800 CDG Diversification Developer Moxxy Hotels 2019 8,100 ORY Diversification Developer Ibis styles Hotels 2019 6,400 ORY Diversification Investor B2 Belaïa Offices 2019 24,500 CDG Diversification Developer VW Concession 2019 2,200 ORY Diversification Developer Loxam Divers 2019 500 CDG Aeronautical Investor SC4 Offices and warehouses 2020 22,000 Total ongoing projects - building permit obtained or under instruction (delivery by 2020) 90,500 Toolbox 2017 69
REAL ESTATE 2017 FINANCIAL STATEMENTS / Revenue ( m) REAL ESTATE / EBITDA & Op. income from operating activities ( m) 263 6-4.8% 14 5 External revenue: - 3 10 250 149 + 60m + 57m 209 161 EBITDA Op. income from operating activities 104 61.9 % 39.4 % 56.7 % 39.8 % 56.7% 39.7% 83.5% 64.1% Margin 2016 revenue Lands Buildings Others Internal revenue 2017 revenue 2016 2017 (in millions of euros) 2017 2016 2017/2016 Revenue 250 263-4.8% External revenue (1) 208 211-1.1% Internal revenue 42 52-19.6% Other income and expenses (incl. capital gain linked to the cargo hub buildings) 69 3 + 66m EBITDA (excluding capital gain linked to cargo hub buildings) 146 149-2.3% EBITDA 209 149 + 60m Share in associates and JVs from op. activities (2) (2) +32.7% Operating income from ordinary activities (including operating activities of associates) 161 104 + 57m EBITDA / Revenue 83.5% 56.7% +26.8pt Operating income from ordinary activities / Revenue 64.1% 39.7% +24.4pt Main impacts Revenue: - 13m Decrease in internal revenue (-19.6%) from the revision of internal rents to market prices in order to improve internal management of the Group (no impact on consolidated revenue) EBITDA: + 60m Including capital gain of 63m from cargo hub buildings Op. income from operating activities incl. share of associates: + 57m Increase in depreciation and amortisation linked to the head offices amortisation ( 2.5 million in 2017) (1) Realised with third parties Toolbox 2017 70
10 INTERNATIONAL AND AIRPORT DEVELOPMENTS
INTERNATIONAL AND AIRPORT DEVELOPMENTS EXPORTING OUR SAVOIR-FAIRE IN A CONTROLLED WAY INTERNATIONAL STRATEGY Capitalise on our international assets Continue the development of TAV Airports Diversify our global footprint with ADP International Enter new markets with ADP Ingénierie Generate Group skill synergies all over the value chain Forecast design of the future terminal of the new airport of Chengdu 4 CRITERIA for international tender offers GROWTH CONTROL OF THE ASSET THE USE OF GROUP SKILLS PROFITABILITY Toolbox 2017 72
2017 YEAR OF THE ROLL-OUT OF GROUPE ADP'S INTERNATIONAL STRATEGY INTERNATIONAL CONSOLIDATION & INTEGRATION Terminal at Queen Alia d AmmanAirport A.Leduc AIG TAV AIRPORTS Increased from 38% to 46.12% (July 2017) AMMAN JORDAN Closing in progress CUBA Medium term project BUSINESS DEVELOPMENT & INNOVATION ADP INTERNATIONAL New Organisation OPENING OF THE NYC & HK OFFICES ADP INGÉNIERIE New strategy - Gain of tender offers Future terminal at Beijing Daxing Airport ADP Ingénierie & Zaha Hadid Architects Toolbox 2017 73
IMPACT OF THE FULL CONSOLIDATION OF TAV AIRPORTS ON GROUPE ADP S P&L INTERNATIONAL In thousand of euros Groupe ADP 2017 P&L incl. 2017 share of profit of TAV @ 38% + H2 2017 P&L of TAV @ 100 % - Elimination of H2 2017 share of profit of TAV @ 38% Capital gain TAV A linked to the transaction occurring on 7 July 2017 Revenue X Y - X+Y EBITDA X Y - X+Y Amortization, net of reversals X Y - X+Y Amortization & depreciation of immo. X Y - X+Y Share of profit or loss in associates and joint ventures from operating activities X Y P PV X+Y-P+PV Total full year 2017 Share of profit or loss of operating associates and joint ventures before adjustments related to acquisition of holdings X Y P X+Y-P Adjustments related to acquisition of holdings in operating associates and joint ventures (1) X Y P X+Y-P Operating income from ordinary activities X Y P PV X+Y-P+PV Operating income X Y P PV X+Y-P+PV Financial results X Y P Income before tax X Y P PV X+Y-P+PV Income taxes X Y P Result of the period X Y P PV X+Y-P+PV Net income attributable to non-controlling interests X Y P Net result attributable to the Group X Y P PV X+Y-P+PV Toolbox 2017 74
TAV AIRPORTS : HIGHLIGHTS OF 2017 FULL YEAR RESULTS INTERNATIONAL Consolidated Revenue (1) of 1,143m (+3% vs FY16) Consolidated EBITDAR (2) of 684m (+12% vs FY16) Revenue growth with pax recovery and strong ground handling, despite weak TRY and cease of BTA logistics third party operations EBITDAR bolstered by decline in cash opex Consolidated EBITDA (3) of 519m (+13% vs FY16) EBITDA growth almost in line with EBITDAR growth Net Profit of 175m (+37% vs FY16) Net Debt of 586m (-23% vs FY16) Impacted by lower finance expenses and elimination of one-off deferred tax expense related with TAV Tunisie in 2Q 2016, despite higher minority interest; higher D&A&I due to TAV Milas Bodrum, lower contribution from Medinah and FX losses due to depreciation of USD and TRY versus EUR. Net debt decreased significantly with cash flow generation 115m Passengers Served (+10% vs FY16) 11% international and 8% domestic passenger growth (1) IFRIC 12 adjusted (2) IFRIC 12 adjusted, before impairment (3) TAV Istanbul s Rent in 2017 is mainly determined by 2016 EUR/USD FX rate, due to amortization schedule of rent payments (while there is no change in cash payment amount) Toolbox 2017 75
TAV AIRPORTS 2017 RESULTS YOY COMPARISON (2016 FIGURES RESTATED) INTERNATIONAL Toolbox 2017 76
TAV AIRPORTS RECONCILIATION OF REVENUE AND EBITDA & ACCOUNTING CHANGES INTERNATIONAL The following changes were made to the financials: Discount Income from unwinding of TAV Esenboga s discounted receivables from DHMI (pls refer to page 23 of the presentation for IFRIC 12 booking model and discount income figures). Discount income, which is the difference between discounted receivables and the actual receivables which was previously classified to finance income is now classified to Other Operating Revenue. The impact on 2017 IFRS financials is EUR 10,96 million. Please note that 2016 financials are restated accordingly. Items like advertising income, rent income from sublease, utility and participation income, which were reported as «Other Operating Income» items are now reclassified to «Other Operating Revenue» for full year 2017. Please note that 2016 financials are restated accordingly. Depreciation and Amortization method for Georgia, Macedonia, Saudi Arabia and Gazipasa airports has been changed from «straight-line» to «unit of production» (i.e. passenger number projections), in line with Ege and Bodrum, as well as in line with parent company s accounting policy. The impact on 2017 IFRS financials is EUR 5,04 million. Please note that the accounting changes have been applied to Q3 2017 financials, but previous periods have not been restated. Discount Expense on Employee Termination Benefits is reclassified to finance expense. 2016 financials are restated accordingly and the impact on 2017 IFRS financials is EUR 2,40 million. Other Operating Income, which mainly consists of extra ordinary items like gain fixed asset sale or reversal of provision for doubtful receivables, for the full year of 2016 and 2017 is not reported as revenue. The impact on 2017 IFRS financials is EUR 493 thousand. Please note that 2016 financials are restated accordingly. Toolbox 2017 77
TAV AIRPORTS GUIDANCE: 2017 REALISATION INTERNATIONAL Toolbox 2017 78
TAV AIRPORTS 2018 GUIDANCES INTERNATIONAL Toolbox 2017 79
TAV AIRPORTS BUSINESS AREAS REVENUE / EBITDA 2017: 1,139m / 481m INTERNATIONAL Airports Duty free Food and beverage Ground handling Others Turkey Istanbul Ataturk Airport (100%) Ankara Esenboga Airport (100%) Izmir Adnan Menderes Airport (100%) Gazipasa Alanya Airport (100%) Milas Bodrum Airport (100%) Georgia Tbilisi (80%) and Batumi Airports (76%) Tunisia Monastir and Enfidha Airports (67%) Macedonia Skopje and Ohrid Airports (100%) Saudi-Arabia Medinah (33%) ATU (50%) Largest duty free operator in Turkey Partner with Unifree owned by Heinemann, leading German travel retailer (Travel Value) Operating in Turkey, Georgia, Tunisia, Macedonia, Latvia, Oman and Medinah Operating in Houston, USA since September 2015. BTA (100%) Operating in Turkey, Georgia, Macedonia, Tunisia, Latvia, Saudi Arabia, Oman and Croatia Operates Istanbul Airport Hotel (128 rooms) Operates İzmir Airport Hotel (81 rooms) Total seating capacity of c. 22 thousand at c. 300 points including BTA IDO and UNIQ Baker and pastry factory serving in Turkey BTA Denizyollari (50%) is the F&B operator of Istanbul Deniz Otobusleri (IDO) Uniq shopping mall food-court Will be operating in New Muscat Int l Airport in 4Q17 HAVAS (100%) Major ground handler in Turkey with a c.70% share Operates in 36 airports in Turkey including Istanbul, Ankara, Izmir and Antalya TGS (50%) operates in Istanbul (IST&SAW), Ankara, Izmir, Antalya, Adana, Bodrum and Dalaman 100% owner of Havas Latvia, with 65% market share 33% owner of Saudi HAVAS operating in Medina TAV OS (100%) Commercial area allocations and lounges, travel agency services TAV IT (100%) Airport IT services TAV Security (100%) Security service provider in Istanbul, Ankara, Izmir and Gazipasa TAV Latvia (100%) Commercial area management in Riga Airport Croatia Zagreb Airport (15%) Toolbox 2017 80
TAV CONCESSION OVERVIEW INTERNATIONAL Airport Type/Expire TAV Stake Scope Istanbul Ataturk Ankara Esenboga Izmir A.Menderes Gazipasa Alanya Milas Bodrum Tbilisi Batumi Monastir&Enfidha Skopje & Ohrid Medinah Yanbu, Hail & Qassim (7,9) Zagreb Lease (January 2021) BOT (May 2023) Concession (December 2032) 2016 2017 Pax (mppa) 100% Terminal 63.7 100% Terminal 15.8 100% Terminal 12.8 fee/pax Int'l US$15 2.5 (Transfer) 15 2.5 (Transfer) 15 2.5 (Transfer) fee/pax Dom. Volume Guarantee 1) As of 31 December 2017 2) Accrual basis: Depreciation expense of 13.5m in 2015 to 32.4m in 2032 plus finance expense of 17.8m in 2015 to 0m in 2032 3) Gazipasa tariff increased on January 1, 2015 4) TAV Gazipasa will make a yearly rent payment of US$ 50,000 + VAT plus 65% of net profit to DHMI. 5) Yearly payments start October 2015. Accrual basis: Depreciation expense of 11.1m in 2016 to 38.0m in 2032 plus finance expense of 18.8m in 2016 to 0m in 2032 6) The percentage will be tapered towards 2% as passenger numbers increase. 7) SAR 87 from both departing and arriving international pax. Pax charge will be increase as per cumulative CPI in Saudi Arabia every three years 8) The concession charge was reduced to 27.25 % for the first two years that follow the completion of the construction of the new terminal in Q2 2015 9) The airports are planned to be taken over by 4Q 2017. Yearly Lease/ Yearly Lease/ Concession Fee Concession Fee Paid Paid Net Debt (1) (1) 3 No $140m + VAT 76m 3 0.6m Dom., 0.75m Int'l for 2007+5% p.a 3 No - 18m 29m+VAT (2) 186m Lease (May 2034) 100% Airport 0.8 10 (3) TL7.5 (3) No $50,000+VAT (4) 48m Concession 143.4m upfront+ 100% Terminal 3.5 15 3 No (December 2035) 28.7m+VAT (5) 116m BOT (February 2027) 80% Airport 3.2 US$24 US$6 No - -10m BOT (August 2027) 76% Airport 0.5 US$12 US$7 No - -5m BOT+Concession 11-26% of revenues 67% Airport 1.7 9 1 No from 348m (May 2047) 2010 to 2047 BOT+Concession 17.5 in Skopje, 4% of the gross 100% Airport 2.0 - No (March 2030) 16.2 in Ohrid annual turnover (6) 43m BTO+Concession (2037) BTO+Concession (2047) BOT+Concession (April 2042) 33% Airport 7.8 SAR 87 (7) - No 54.5% (8) - 50% Airport 15% Airport 3.1 3.5 SAR 87 (7) SAR 10 No 15 4 (Transfer) 7 No 3% of the gross annual turnover for Yanbu 3,6% of the gross annual turnover until 2026, 7,2% between 2026-2047 for Hail&Qassim 2.0-11.5m fixed 0.5% (2016) - 61% (2042) variable - Toolbox 2017 81 -
INTERNATIONAL AND AIRPORTS DEVELOPMENTS 2017 FINANCIAL STATEMENTS INTERNATIONAL / Revenue ( m) / EBITDA & Op. income from operating activities ( m) 97 23 + 585m 8 616 682 252 186 EBITDA Op. income from operating activities 3 2016 revenue (en millions d'euros) ADP Ingénierie 2017 2016 2017/2016 Revenue 682 97 + 585m ADP Ingénierie (subsidiary of ADP International) ADP International (1) (previously ADP Management) 52 75-30.9% 15 23-35.6% TAV Airports 616 - + 616m EBITDA 252 3 + 249m Share in associates and joint ventures from operating activities after adjustments related to acquisition of holdings Operating income from ordinary activities (including operating activities of associates) 77 (51) - 128m 186 (49) - 235m EBITDA / Revenue 36.9% 2.8% N/A Operating income from ordinary activities / Revenue 27.2% -50.4% N/A (1) Excluding ADP Ingénierie ADP International (1) TAV Airports 2017 revenue Main impacts 2016-49 Revenue: + 585m 2017 TAV Airports full consolidation over H2: + 616m Slowdown in the volume of activity and the number of orders taken by ADP Ingénierie, particularly in the Middle East EBITDA : + 249m Op. income from operating activities incl. share of associates: + 235m Share of profit from operating associates up thanks to : The capital gain of the re-evaluation of the 38%-stake in TAV Airports for an amount of 63 million; The positive base effect linked to the non-renewal of the impairment of TAV construction in 2016, and, in 2017, a capital gain, net of disposal fee, for an amount of 12 million; Partially offset by a provision on international stake amounting to 46 million, announced during the 1st half of 2017 Toolbox 2017 82
11 OTHER ACTIVITIES
OTHER ACTIVITIES OTHER ACTIVITIES HUB ONE HUB SAFE BtoB or BtoC telecom and tracability solutions Mobility solutions Owned at 100% Airport security Owned at 20% as of 30 September 2017 Sale of a 80%-stake on 29 September 2017 Toolbox 2017 84
OTHER ACTIVITIES 2017 FINANCIAL STATEMENTS OTHER ACTIVITIES / Revenue ( m) / EBITDA & Op. income from operating activities ( m) -35.1% 223-2.5% 10 15 217 29 14-12.5% 25 EBITDA Op. income from operating activities 9 2016 revenue Hub One Hub Safe 2017 revenue 12.8 % 5.8 % 12.9 % 6.4 % 12.9% 6.4% 11.6% 4.3% Margin 2016 2017 (in millions of euros) 2017 2016 2017/2016 Revenue 217 223-2.5% Hub One 154 144 +6.8% Hub Safe 63 78-19.6% EBITDA 25 29-12.5% Operating income from ordinary activities (including operating activities of associates) 9 14-35.1% EBITDA / Revenue 11.6% 12.9% -1.3pt Operating income from ordinary activities / Revenue 4.3% 6.4% -2.1pt Main impacts Revenue: - 6m Increase in activity in Hub One Telecom Change in consolidation method for Hub Safe, now accounted for in share in non-operational associates in Q4 following the sale of 80% of the stake in the entity on 29 September 2017 EBITDA : - 4m Op. income from operating activities: - 5m Toolbox 2017 85
12 QUALITY OF SERVICE & CORPORATE SOCIAL RESPONSIBILITY
QUALITY OF SERVICE 2016 2020 : REACH THE LEVEL OF THE BEST EUROPEAN AIRPORTS QoS CSR STRATEGY IN PARIS-CHARLES DE GAULLE CONTINUING THE STRONG GROWTH TREND to reach the level of the best European airports CONNECTIONS EFFICIENCY Direction & information available at any time on connections journeys Fluidity during controls & Fast Track Optimization of transfers between terminals (shuttles routes, stations,...) ATTRACT TRAFFIC THANKS TO BETTER PASSENGER EXPERIENCE IN PARIS-ORLY SPEED UP OUR IMPROVEMENT, to support the expected transformation of the platform through Paris-Orly New Departure project QUALITY OF THE «STAY» A new product : a dedicated area for long connections on CDG s hub Comfort in boarding areas (showers, seats to have a rest, ) Communication on existing services, depending on time available Toolbox 2017 87
DEPARTING PASSENGER SATISFACTION IN 2017 QoS CSR / DEPARTING PASSENGER SATISFACTION ACI/ASQ score (1) Unfavourable circumstances in 2017 driving down positive perception of quality of service Enhanced police checks in the context of terrorist attacks (increase of waiting times) A drop in service quality during summer season and at peak time Paris Aéroport (2) +0.30 3.74 3.76 3.74 2018-2020 3.44 3.51 3.57 3.63 3.65 Pursuit of the strong actions for quality of service (middle and long term) Commitment to reducing waiting times at the airport (roll-out of PARAFE and facial recognition) Continue the rolling out of new retail offering (shops and food & beverage with EPIGO) Improving customer care and ambiance, Launch of innovative services Improving ease of connections 2010 2011 2012 2013 2014 2015 2016 2017 Completing major infrastructure works in Paris ORY and Paris CDG Airport capacity creation Beyond : CDG Express, Terminal 4 (1) Airport Service Quality, indicator computed by the Airport Council International (2) Paris-Charles de Gaulle and Paris-Orly Toolbox 2017 88
LAUNCH OF THE LOYALTY PROGRAMME MY PARIS AÉROPORT A MOBILE APPLICATION TO BETTER SERVE OUR PASSENGERS QoS CSR / Better know our passenger customers... / and offer them exclusive benefits Creation of the mobile application My Paris Aéroport including a digital loyalty card QR code to be scanned at interactive terminals and in shops Assistant helping users to plan their trip Two available status: my Pass & my Premium Target: French frequent flyers Car park online booking system Sales on key products in shops and on services Customised offers according to travellers profile Paris Aéroport to be the preferred hub over other European hubs thanks to strong commitments linked to the brand universe, a better customisation for traveller experience and exclusive services Toolbox 2017 89
ADVANCED EXTRA-FINANCIAL PERFORMANCE MAIN ACHIEVEMENTS FOR 2017 AND FORECASTS QoS CSR Extra-financial rating of Groupe ADP at the end of 2016 82/100 (+4 points/2014) Commitments in all areas of Corporate Social Responsibility in our strategic plan Included in the main ISR (1) indexes, including DJSI, FTSE4GOOD, EIRIS Vigeo and Ethibel Governance Reinforcement of anti-corruption and fraud prevention measures Deployment of the internal control policy Creation of the Innovation Hub and a fund dedicated to young innovative companies Environment Internal carbon cost in 2017 and ambition to achieve neutrality by 2030 Master plan for development, landscape and biodiversity for Paris- CDG Customers- Purchasing Management of the year's purchases 7 supplier CSR audits "Play your airport" challenge Human capital New managerial development tools Actions to promote feminisation Societal Creation of a collective tool for regional engineering Future investment programme in a skills hub STRATEGIC TARGET TO ACHIEVE 83/100 IN 2020 - next extra-financial rating in 2018 (1) Socially responsible investment Toolbox 2017 90
13 APPENDICES
2017 DETAILED P&L APPENDIX In m (unless stated otherwise) 2017 2016 2017/2016 Passengers Groupe ADP (mpax) (1)(2) 228.2 212.4 +7.4% +15.8mpax Of which Paris Aéroport passengers (mpax) 101.5 97.2 +4.5% +4.3mpax Revenue 3,617 2,947 +22.7% + 670m Operating expenses (2,142) (1,807) +18.5% + 335m Other incomes and expenses 93 56 +65.7% + 37m EBITDA 1,567 1,195 +31.1% + 372m Of which TAV Airports 280 - N/A + 280m EBITDA excl. full consolidation of TAV Airports 1,287 1,195 +7.7% + 92m Amortisation and depreciation (615) (479) +28.3% + 136m Share in associates and joint ventures from operating activities after adjustments related to acquisition of holdings Operating income from ordinary activities (including operating activities of associates) 77 (52) N/A + 129m 1,030 664 +55.1% + 366m Other operating expenses and incomes 22 32-30.6% - 10m Operating income (including operating activities of associates) 1,052 696 +51.1% + 356m Financial income (179) (115) +55.0% - 64m Associates from non-operating activities 1 59 N/A - 58m Income taxes (260) (202) +28.9% + 58m Net results from non-continued activities (44) (3) N/A - 41m Net income attributable to the Group 571 435 +31.2% + 136m (1) Excluding stake in Mexican airports, sold in October 2016 ; Calculation taking into account TAV Airports traffic at 100% in 2017. (2) The computation is made according to the following method: traffic from airports that are fully consolidated are taken at 100%, traffic from other airports is taken according to the stake owned Toolbox 2017 92
14 INVESTOR RELATIONS TEAM
GROUPE ADP INVESTOR RELATIONS TEAM IR TEAM Mrs. Audrey Arnoux Head of Investor Relations IF YOU VALUE OUR JOB, PLEASE VOTE FOR US ON EXTEL 2017 LINK TO OUR EXTEL 2017 PRESENTATION Mrs. Caroline Baude Investor Relations Officer In 2017, thanks to your votes: 6 th European Best IR Team in Transport Sector 1 st French Best IR Team in Transport sector Mrs. Sandrine Blondeau Assistant In 2017, thanks to your votes: Phone: +33 (0)1 74 25 70 64 1 st all-europe Best IR professional in Transport sector E-mail: invest@adp.fr 1 st all-europe Best Investor Day in Transport sector Website: finance.groupeadp.fr/ Address: 1, rue de France, 93290 Tremblay en France Postal address: ADP, 1, rue de France, BP 81007, 95931 ROISSY CHARLES DE GAULLE Cedex Toolbox 2017 94