Mundys (formerly: Atlantia SpA)

Investor Presentation • Aug 4, 2022

H1 2022 Results 4 August 2022

Index

H1 2022 Results

Recent Highlights	4
Traffic Performance	3
Consolidated Results	6
Results by Segment	9

Appendix

Debt Structure Liquidity

16

17

H1 2022 Results

H1 2022 Highlights

March-April

• AGM 2022:

share

• Say on Climate

• New Board of Directors

€3.3bn

January-February

• Signing of the acquisition of Yunex (€950m EV)
• Atlantia joins global index of leading companies for Gender Equality
• Sustainalytics upgrades Atlantia's sustainability rating
• Atlantia: sale of its 17.2% stake in Lusoponte (€54m)

Revenues

• Moody's upgrades Atlantia's corporate family rating to Ba1, and affirms ADR's Baa3 rating with positive outlook

• Atlantia investor day: 2021 results and strategic update

• Distribution of dividend for 2021 of €0.74 per

• Announcement of a voluntary tender offer at €23 per share (plus dividend) by Edizione and Blackstone

May-June

• ASPI's disposal completed (€8.2bn for 88% stake)
• Sustainalytics upgrades once again Atlantia's sustainability rating
• Closing of Yunex acquisition

Latest developments

• Atlantia renews Revolving Credit Facility: extension and increase in its facility totaling €1.5bn and maturing in July 2025. In line with Atlantia commitment to sustainable business growth, the transaction includes an option to convert into a sustainability-linked revolving credit facility, to be exercised by March 2023 (01 July)
• Atlantia again included among highest rated global companies in FTSE4Good index (12 July)
• S&P upgrades Atlantia's issuer credit rating to BB+ with stable outlook and raised ADR's rating to BBB with stable outlook (25 July)

Traffic Performance H1 2022

4.5Km travelled, performance H1 2022 (vs.2019)

H1 2022 Consolidated Results

H1 2022 – EBITDA to Net Result

H1 2022 - Net Financial Debt

(***) Working capital & other variations (-€616m); hedging variations (-€469m); COVID recovery fund for ADR (-€219m); FX (€546m)

H1 2022 Results by Segment

Abertis – H1 2022 Results

Key financials (€m)	H121	H122	Chg.
Revenues	2,260	2,426	+7%
EBITDA	1,554	1,692	+9%
EBITDA margin	69%	70%
Capex	213	309
Net Financial Debt	23,958(1)	23,262

(1) as of 31/12/2021

https://www.abertis.com/en/the-group/financial-information/results

Average FX rate at 30 June of 2022: €/BRL 5.56 €/CLP: 902.67; €/USD 1.09; €/MXN 22.17

Main Figures Key Highlights

Traffic

• Full traffic recovery +3.5% compared to 2019 (+17.5% vs 2021), benefitting from the end of sanitary restrictions, the recovery of LV, resilience of HV and Abertis diversified portfolio.
• For all countries, LV&HV performance above 2021, with increases above +30% in LV in European and Chilean portfolio.

Revenues (+7%)

▪ Mainly due to +22% of recurring performance (+€417m), driven principally by traffic, which is partially compensated by Acesa, Invicat in Spain (whose concessions ended in August 2021) and Sol, in Chile (ended in March 2022), which are now out of the perimeter.

EBITDA (+9%)

▪ +28% of recurrent performance (+€362m), underpinned by traffic recovery which is partially offset by the impact of the loss of perimeter.

Capex

▪ Major capex projects in France with Plan de Relance and Plan d'Investissement Autoroutier as well as other works in federal network in Brazil and Italy.

Net Financial Debt

▪ Net debt reduction from December 2021 to June 2022 mainly impacted by - €1.1bn of cash collection from capex compensation under AP7 agreement, +0.6bn of dividend payment and +€0.6Bn due to FX impact. For additional information on Abertis' results visit:

Overseas Motorways – H1 2022 Results

	Km travelled vs. H121	Light	Heavy	Total
c ffi	Chile	+33.5%	+6.3%	+30.3%
a r	Brazil	+17.2%	+6.3%	+14.1%
T	Poland	+23.7%	+9.7%	+21.0%
	Total			+21.4%

Key financials (€m)	H121	H122	Chg.
Revenues	254	340	+34%
EBITDA	181	252	+39%
EBITDA margin	71%	74%
Capex	49	57
Net Financial Debt	190(1)	142

(1) as of 31/12/2021

Main Figures Key Highlights

Traffic (+21.4%)

• Strong traffic performance vs. 2021 benefitting from the softening of Covid-19 restrictions
• Traffic performance mainly driven by Chilean assets (+30.3%)

Revenues (+34%)

▪ Mainly due to traffic recovery (+21.4% vs. 2021) and tariff increase

Adjusted revenues of €397m and adjusted EBITDA of €309m (including minimum revenues guarantees and subsidies of Chilean concession contracts, not included in IFRS reported EBITDA)

Capex

▪ Capex mainly driven by Chilean works (€36m in H1 '22) mainly due to the expropriation costs of the greenfield projects and the construction of the northern stretch of Acceso Vial AMB in Santiago

ADR – H1 2022 Results

Key financials (€m)	H121	H122	Chg.
Revenues	93	269	+189%
EBITDA	(32)	107	n.m.
EBITDA margin	n.a.	40%
Capex	96	102
Net Financial Debt	1,682(1)	1,359	-19%

Main Figures Key Highlights

Traffic

▪ +10.1Mpax vs 1H 2021 thanks to the progressive easing of Covidrelated travel restrictions. Recovery of 2019 level equal to 55%

Revenues and EBITDA

• Increase in revenues (+€176m) mainly driven by higher passenger traffic supporting both aviation and non-aviation revenues
• Increase in opex (+€37m) mainly in relation to higher personnel costs (+€20m), as a result of the higher volume of passengers handled and the gradual phase out of CIG ("Cassa Integrazione Guadagni")
• Increase in external costs due to higher consumption of energy and its higher price, the restoration of the infrastructure operations' setup and compliance with Covid requirements

Capex

▪ Capex mainly referring to FCO Terminal 3 and new Pier A construction works (opened on May 18), along with minor interventions on runway and aprons, construction works in other buildings and the upgrade of IT systems

Net Financial Debt

▪ Net financial debt decreasing by €323m (-19%) mainly due to the cashin of Covid rebalance (€219m)(2) and to the positive change in market value of ADR's derivative financial instruments (€65m)

ACA – H1 2022 Results

Key financials (€m)	H121	H122	Chg.
Revenues	61	116	+90%
EBITDA	8	41	n.m.
EBITDA margin	13%	35%
Capex	18	18
Net Financial Debt	954(1)	855	-10%

Main Figures Key Highlights

Traffic

▪ +3.8Mpax vs 1H 2021 thanks to the progressive easing of Covid-related travel restrictions. Recovery of 2019 level equal to 80%

Revenues and EBITDA

• Increase in revenues (+€55m) mainly driven by i) higher traffic (+246%)
• +€22m increase in total cost driven by the increase in variable charges linked to operations (e.g., staff costs, security, etc.) and the reopening of Terminal 1 in Nice Airport at the end of March 2022

Capex

▪ Capex mainly referring to refurbishment and security interventions, including equipment replacement to guarantee operations of technical installations, partially delayed by the Eastern Europe conflict

Net Financial Debt

▪ Decrease in Net Financial Debt of €99m mainly due to the positive change in the market value of Azzurra Aeroporti's derivative financial instruments

Note: (1) as of 31/12/2021.

Telepass – H1 2022 Results

KPIs	H121	H122	Chg.
# OBU (M)	9.2	9.5	+3.2%
# T-pay contracts(thousand)	581	702	+20.8%
# Insurance (thousand)	2,230	2,288	+2.6%

Key financials (€m)	H121	H122	Chg.
Revenues	122	134	+10%
EBITDA	48	43	-10%
EBITDA margin	39%	32%
Capex	41	41
Net Financial Debt	70(1)	34

Main Figures Key Highlights

KPI

• 9.5 million OBUs (+3.2%); gross additions sustained by a robust performance of the online channel and banks
• Growing number of Mobility customers (+20.8%), also leveraging on new services

Revenues and EBITDA

• Increase in revenues (+€12m, +10%), reflecting the overall expansion of the group's volumes
• Opex up +23% (in line with the BP presented to the market in March '22) in relation to: (i) higher variable costs due to volume (e.g., distribution costs), (ii) increased marketing investments to further strengthen Branding and Ecosystem awareness and to support the customers growth and (iii) higher staff costs due to workforce increase

Capex

▪ Capex mainly referring to the implementation of strategic projects, acquisition of software licenses and OBU equipment

Net Financial Debt

▪ Improved Net Financial Debt (-€36m), mainly related to the reduction net working capital, also thanks to factoring transactions of trade receivables

Appendix

Group Debt Structure As of 30/06/22

(€m)

Note: (i) Gross debt includes notional value of bank debt and capital markets debt (excluding hedging amounts and hybrid bonds); (ii) Atlantia Group cash does not include €602mn deposits held by subsidiaries. (1) Atlantia holding cash on a statutory basis is equal to €7.943bn including €120mn term deposit on Telepass; Telepass debt (€300mn) do not include intercompany debt with Atlantia (€120mn) (2) Abertis Finance €2.0bn hybrid bonds (perpetual, non-callable until 5.25 and 6.25 years from the respective issuance) accounted as equity under IAS 32

17 (Holding) HIT Group Maturities up to 2024 vs Available Liquidity (Infraestructuras) (€bn) • Cash-in of €8.2bn from Autostrade per l'Italia disposal received on May 5 th • No maturities before Sept 2023: in July 22, RCF extension from 2023 to 2025 and size increased from €1.25bn to €1.50bn • In May 22, Sanef and Sapn voluntary prepaid €1.06bn BNP/DEXIA loan after bond issuance Key financial transaction 1H 2022 ACA Group • €0.15bn refinancing package, including dual tranche bond issuance in July21 for a total amount of €0.09bn and bilateral loans with French banks for €0.06bn 0,8 7,8 2,4 1,4 0,5 0,6 0,6 0,8 0,4 1,5 0,5 0,3 0,3 2,6 0,8 0,1 0,1 9,3 4,5 1,7 1,1 0,2 Debt maturities 2022-2024 Committed lines expiring by 2024 Committed lines expiring beyond 2024 Available cash

Investor Relations investor.relations@atlantia.com

www.atlantia.com

Disclaimer

This presentation has been prepared by and is the sole responsibility of Atlantia S.p.A. (the "Company") for the sole purpose described herein. In no case may it or any other statement (oral or otherwise) made at any time in connection herewith be interpreted as an offer or invitation to sell or purchase any security issued by the Company or its subsidiaries. nor shall it or any part of it nor the fact of its distribution form the basis of. or be relied on in connection with. any contract or investment decision in relation thereto. This presentation is not for distribution in. nor does it constitute an offer of securities for sale in Canada. Australia. Japan or in any jurisdiction where such distribution or offer is unlawful. Neither the presentation nor any copy of it may be taken or transmitted into the United States of America. its territories or possessions. or distributed. directly or indirectly. in the United States of America. its territories or possessions or to any U.S. person as defined in Regulation S under the US Securities Act 1933.

5.1 5.2 4.5 5.34.4The content of this document has a merely informative and provisional nature and is not to be construed as providing investment advice. The statements contained herein have not been independently verified. No representation or warranty. either express or implied. is made as to. and no reliance should be placed on. the fairness. accuracy. completeness. correctness or reliability of the information contained herein. Neither the Company nor any of its representatives shall accept any liability whatsoever (whether in negligence or otherwise) arising in any way in relation to such information or in relation to any loss arising from its use or otherwise arising in connection with this presentation. The Company is under no obligation to update or keep current the information contained in this presentation and any opinions expressed herein are subject to change without notice. This document is strictly confidential to the recipient and may not be reproduced or redistributed. in whole or in part. or otherwise disseminated. directly or indirectly. to any other person.

3.7 3.8 2.5 The information contained herein and other material discussed at the presentation may include forward-looking statements that are not historical facts. including statements about the Company's beliefs and current expectations. These statements are based on current plans. estimates and projections. and projects that the Company currently believes are reasonable but could prove to be wrong. However. forward-looking statements involve inherent risks and uncertainties. We caution you that a number of factors could cause the Company's actual results to differ materially from those contained or implied in any forward-looking statement. Such factors include. but are not limited to: trends in company's business. its ability to implement cost-cutting plans. changes in the regulatory environment. its ability to successfully diversify and the expected level of future capital expenditures. Therefore. you should not place undue reliance on such forward-looking statements. Past performance of the Company cannot be relied on as a guide to future performance. No representation is made that any of the statements or forecasts will come to pass or that any forecast results will be achieved. By attending this presentation or otherwise accessing these materials. you agree to be bound by the foregoing limitations.

Pursuant to Article 154-bis, paragraph 2, of the Consolidated Finance Act, the officer responsible for the preparation of Atlantia's corporate financial reports, Tiziano Ceccarani, declares that the accounting information contained in this document corresponds with that contained in the accounting documentation, books and records.