DRIVING EFFICIENCY OF Operations

Lower possible CAPEX to fulfill LoS SEARCH WHERE THE VALUE STANDS > New economic regulation > ANA cannot set tariffs to compensate for cash Grow traffic Lower possible CAPEX to fulfill LoS Increase extra-aero OPEX under control No more reward to spend money! Save OPEX and CAPEX VINCI Airports Convention 2014

 SET THE GOALS ! € 56m +10,9 % € 364m € 297m 4.9 €/pax € 394m 37 mpax Traffic 37 mpax +3,2 % CAGR Aviation revenues € 394m +6,1 % CAGR Non-aviation yield 4.9 €/pax OPEX < € 297m +2,7 % CAGR EBITDA > € 364m +10,9 % CAGR CAPEX  € 56m PER YEAR  VINCI Airports Convention 2014

    ARE WE ON THE WAY TO REACH THE OBJECTIVEs ? 34,6 € 254m 32,5 mPax  CAPEX  € 254m 2014-2018  34,6 BP 2016 32,5 BP 2014   North Pier + 2Mpax in LIS VINCI Airports Convention 2014

MANAGING OPEX… € 218m € 128m …starts by understanding their structure What do we buy? Staff Contracts Purchase of equipment / services / consumables Punctual / revolving? Manageable / not manageable? Fixed / variable? Source: ANA 2014-R2 budget € 218m in AIRPORTS € 128m ESS in AIRPORTS VINCI Airports Convention 2014

PROPOSALS APPRECIATION MANAGing oPEX… 1. Improve procurement of outsources services Implement new procurement procedures using private environment REQUEST DOCUMENTS REQUEST FOR QUOTATION PROPOSALS APPRECIATION NEGOCIATION ADJUDICATION AFTER PURCHASE Simplified Less bureaucracy Less time More competitors Market monitoring Alternative proposals More flexibility No exclusion for details Price optimization Technical optimization Risk management Total Cost of Ownership Supply or service monitoring Improve the suppliers evaluation VINCI Airports Convention 2014

New service start in January 2015 MANAGING OPEX… Improve procurement of outsourced services Re-assess opportunity to internalize/outsource OPEX Unit Price Savings 2014 (k€) Savings 2015 (k€) Comments Electricity -7,0% 398 795 With effects at 01.06.2014 Cleaning -3,8% 205 220 With effects at 01.02.2014 Surveillance -11,0% 89 296 With effects at 01.09.2014 Building Maintenance (Lisbon) -13,0% - 90 New service start in January 2015 Airport firefighters (Lisbon) * -15,0% 283 VINCI Airports Convention 2014

MANAGING OPEX… 3. Set up an energy efficiency policy 4. Optimize maintenance strategy / organization VINCI Airports Convention 2014

SIDE EFFECTS OF GROWTH Picture usually seen on presentation Picture usually not presented VINCI Airports Convention 2014

MANY WAYS TO FAIL MAKING CAPEX FACILITIES NOT AVAILABLE TOO EXPENSIVE NOT COMPLIANT Projects not prepared to arrive on time Projects failing to fulfill the needs Projects incompatible with airport future devt. Non-optimized procurement Projects being modified after design phase or even realization Lack of project management / supervision VINCI Airports Convention 2014

MANAGING CAPEX… 1. Revise investment planning practices Creation of 5-years rolling investment plans Guidelines for investments >5y horizon 2. Improve asset management capabilities Forecast needs according to asset lifecycles (rwy) VINCI Airports Convention 2014

Operational efficiency MANAGING CAPEX…  Strong (unexpected) growth brings forward critical capacity challenges 3. Improve capacity management capabilities Define/update master plans Create structure and tools to monitor/align sub-system capacities and reveal potential bottlenecks Operational efficiency Traffic Levels of service Capacity VINCI Airports Convention 2014

MANAGING CAPEX… Assesses and selects projects Creation of an Investment Committee Assesses and selects projects Rationale of the project Existence of agreed specifications Ensure compatibility with MDP Follows-up procurement and realization processes CG/DT APT DTA COO DIA CFO DSTIC CCO VA VINCI Airports Convention 2014

MANAGING CAPEX… Procurement also handles CAPEX -16,5% -22,1% -11,2% Estimated (k€) Actual (k€) Savings (k€ / %) New Lounges Construction Nivel 5 and 6 - Lisbon Airport 1.269 1.061 209 -16,5% Reformulation of Commercial Areas and Services Ph.1 - Lisbon Airport 2.412 1.878 534 -22,1% Rehabilitation the Taxiways B and S Construction - Oporto Airport 3.835 3.405 430 -11,2% Rehabilitation the Taxiways R, S and W Construction - Lisbon Airport 4.000 2.860 1.141 -28,5% VINCI Airports Convention 2014

RESPONSIBLE AND ACCOUNTABLE > Complex, multi-disciplinary environment for the airports’ management > Specialized and skilled corporate directions with their own objectives Bring consistency in the decision-making while keeping the benefits of specialization/centralization Creation of airport Business Units VINCI Airports Convention 2014