Economic Regulation Agreement

Despite recent traffic declines, Paris Airports is confident in the growth of its activities in the medium and long term. However, the group believes that, for structural reasons such as changes in transport patterns, oil prices and the maturity of the European air transport market, the forth future economic regulation agreement should be based on slightly lower-than-expected traffic growth rates. Given what its customers said about their prospects, Paris Airports made a slight growth in its proposal (0.5%) estimate. passenger traffic in 2010, followed by an average annual growth of 3.2% for the period 2011-2015, followed by a gradual recovery in traffic. After extensive consultations with the airlines in October 2009 and after hearing their expectations and priorities, Paris Airports will today present to the airlines meeting in the Advisory Economic Committee their guidelines on the 2010 royalty rate and the priority areas of the 2011-2015 Economic Regulation Agreement (EBL). “By signing short-, medium- and long-term resources and successfully making significant investments while limiting rate increases and allowing for a reasonable return on investment, the company`s proposal for the next economic regulatory agreement 2021-2025 takes into account all stakeholder needs. It shows the strength of ADP Group`s industrial and financial model to meet the many challenges it faces and its ability to invest and grow in Paris. In the absence of an economic regulation agreement for airport charges and investments, ADP Group must consult aviation users each year and submit to the French Transport Regulatory Authority (ART) a fare proposal based on current service costs related to airport charges, including an annual investment plan. The Paris Airports proposal is expected to be discussed in the Economic Council in the coming weeks. In accordance with the provisions of the Civil Aviation Code in France, customs 2010 will be published in early March 2010. As part of the 2011-2015 ERA development process, Paris Airports will publish a more detailed proposal document in the first quarter of 2010 in which stakeholders will have the opportunity to give their views. The pressure of business spending will reconcile this exceptional amount of investment with a real moderation in fares for airlines.

In addition to the economic regulation agreement reached in the 2016-2020 financial year, which contributes to the moderation of the next tariff period, ADP Group is once again pursuing a voluntary and ambitious scenario of controlling operating expenditures for the period 2021-2025. This proposal reflects an effort of almost 130 million euros on regulated spending by 2025, so that limiting their growth despite a dynamic traffic environment and a continuous increase in the capacity of The Paris airport platforms. Expressed by passengers and neutralising the inflation effect (in constant euros), spending on the regulated perimeter has already decreased over the 2016-2020 period (between -10% and -15%) in 2021-25, they fell again by almost 10%.

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