1. AUK001X97 Airports Company of South Africa Limited Budget 2008/2009

2. AUK001X97 1 Agenda 1.Highlights 2.Strategic Objectives 3.Capital Expenditure 4.Consolidated Income Statement 5.Balance Sheet and Cash Flow Statement 6.Key Performance Indicators for 2008/09

3. AUK001X97 Highlights 2

4. AUK001X97 Highlights 2008/2009 Budget 2007/2008 Estimates Revenue3 374 3902 820 590 EBITDA2 057 9321 700 332 EBT700 976781 749 EBITDA Margin (%)60.99%60.28% Return on Capital Employed (%)5.55%8.00% Return on Equity (%)8.1%9.6% Gearing Ratio60:4050:50 Capex5 586 5404 317 592 3

5. AUK001X97 Strategic Objectives 4

6. AUK001X97 5 Strategic objectives

7. AUK001X97 Capital Expenditure 6

8. AUK001X97 Capital Expenditure 7

9. AUK001X97 Capital Expenditure AIRPORTAeronautical Non- AeronauticalTotal ORTIA 1,602,142,268606,944,9282,209,087,196 CTIA 907,858,949263,872,3401,171,731,289 DIA 55,013,0865,540,00060,553,086 La Mercy 1,421,322,8490 Corporate 179,876,5840 PE 77,813,00441,900,000119,713,004 EL 87,991,286500,00088,491,286 BL 123,156,7124,500,000127,656,712 GG, KM, UP, PIA 137,128,919 6,397,883143,526,801 TOTAL4,592,303,657929,655,1515,521,958,808 8

10. AUK001X97 Capital Expenditure OR TAMBO International Airport (ORTIA) (2010 Deadlined) International PierR 533m Sept 08 Central Terminal Building (CTB)R2,285m Dec 09 International Departures Terminal (TADU)R 105m Jun 08 Multi Storey Parkade 2 (MSP2)R 496m Dec 08 Staff ParkingR 320m Dec 09 Remote Aprons & TaxiwaysR 865m Mar 10 Additional Fuel Tank CapacityR 170m Nov 09 9

11. AUK001X97 Capital Expenditure CAPE TOWN International Airport (CTIA) (2010 Deadlined) Consolidated (double-level) Terminal ComplexR1,522m Mar 10 Multi Storey Parkade 2R 394m Oct 09 Access Road RealignmentR 50m Dec 09 10

12. AUK001X97 Capital Expenditure DURBAN International Airport DIA and DOMESTIC AIRPORTS New green field La Mercy Airport for KwaZulu NatalR6,723m Dec 10 Appropriate Capacity Increases and modernisation of all Domestic Airports inclusive of Terminal space East London, Bloemfontein, Upington Aircraft Aprons George, EL, PE, Public Parking PE, EL, Bloemfontein, Upington, George pre Nov 09 11

13. AUK001X97 Consolidated Income Statement 12

14. AUK001X97 Consolidated Income Statement 2008/2009 Budget ‘000 Aeronautical Revenue 1,656,300 Commercial Revenue 1,683,408 Other Revenue 34,682 Total Revenue 3,374,390 Operating Expenditure -1,316,459 EBITDA 2,057,932 Depreciation-824,123 Net Operating Income1,233,808 Finance Charges-532,832 Net Income Before Tax700,976 Taxation-184,401 Net Income After Tax 516,575 13

15. AUK001X97 Balance Sheet and Cash Flow Statement 14

16. AUK001X97 Consolidated Balance Sheet 2008/2009 Budget ‘000 2007/2008 Estimates ‘000 Share Capital750,001 Borrowings12,098,590 6,597,273 Retained Income5,621,130 5,065,952 Deferred Tax797,228 766,579 Creditors & Provisions417,108380,230 Total Liabilities 19,684,057 13,560,035 Property, Plant & Equipment18,859,154 13,158,050 Investments44,893 65,236 Receivables and Stock690,520 336,749 Cash89,490 0 Total Assets 19,684,057 13,560,035 15

17. AUK001X97 Cash Flow Statement 2008/2009 Budget ‘000 Net Profit before tax & interest 1,233,808 Depreciation 824,123 Increase in receivables & stock (353,771) Increase in accounts payable 36,878 Cash generated by operations 1,741,038 Interest paid (998,112) Taxation paid (153,752) Net cash inflow from operating activities 589,174 Additions to Assets (6,001,001) Increase in borrowings 5,501,317 Cash at the end of the year 89,490 16

18. AUK001X97 Key Performance Indicators (KPIs) 17

19. AUK001X97 Key Performance Indicators (KPIs) 18

20. AUK001X97 Key Performance Indicators (KPIs) 19