Annual Report 2024

The 2024 Fiscal Year at a Glance

EBITDA Positive traffic development at the Group locations increases EBITDA.

19,211

Number of employees as of December 31

Increased headcount due to positive traffic development.

501.9 mn€

Group result

Significant improvement in earnings driven by international business; Frankfurt Airport also makes a significant contribution.

159,496 m.t.CO2e

GHG emissions First-time recording of total greenhouse gas emissions (Scope 1 and 2) in the Group.

Free Cash Flow Further negative due to ongoing expansion measures.

Passengers at FRA Passenger volume 3.7% above the previous year.

Financial performance indicators

	2024	2023	Change	Change in %
Revenue (€ million)	4,427.0	4,000.5	+426.5	+10.7
Revenue adjusted for IFRIC 12 (€ million)	3,892.1	3,485.1	+407.0	+11.7
EBITDA (€ million)	1,301.8	1,204.0	+97.8	+8.1
Group result (€ million)	501.9	430.5	+71.4	+16.6
Earnings per share (basic) (€)	4.88	4.26	+0.6	+14.6
Dividend per share (€)	0.00	0.00	0.0	–
Free cash flow (€ million)	–674.7	–656.4	–18.3	–2.8
Total assets (€ million)	20,252.8	18,890.9	+1,361.9	+7.2
Shareholders' equity ratio (%)	23.8	22.9	+0.9	–
Group liquidity (€ million)	3,936.6	4,041.3	–104.7	–2.6
Net financial debt (€ million)	8,388.5	7,712.6	+675.9	+8.8
Net financial debt to EBITDA	6.4	6.4	0.0	–
EBITDA margin (%)	29.4	30.1	–0.7	–
ROFRA (%)	6.3	6.6	–0.3	–
Gearing ratio (%)	173.7	178.6	–4.9	–

Other performance indicators

	2024	2023	Change	Change in %
Number of employees as Dec,31	19,211	18,057	+1,154	+6.4
Average number of employees	19,001	17,840	+1,161	+6.5
Global satisfaction of passengers (Group) (%)	77	74	+3.0 PP	–
Employee satisfaction (Group)	5.00	4.76 1)	+0.24	+5.0
GHG emissions (Group) (Sum Scope 1 and 2) (t)	159,496	184,734	–25,238	–13.7

1) 2022 values.

Contents The year of 2024

Discover also the illustrative online version of the Fraport Annual Report:

www.annual-report.fraport.com

Further explanations

You will find further information on the Internet.
You will find further information in this report.

The year 2024 …

… was particularly eventful for the Fraport Group. In addition to celebrating the 100th anniversary of Frankfurt as an aviation hub, ongoing traffic growth led to a record EBITDA. Despite challenges, the group-wide traffic growth was driven especially by developments at the locations in Lima, Greece, Antalya, and also Frankfurt.

Online version 2024 wwww.annual-report.fraport.com

Expansion of photovoltaic system at Frankfurt Airport continues

Fraport continues the construction of the photovoltaic system along Runway West. When completed, the vertically installed solar fences will extend over a length of 2,800 meters along the runway. At peak, 37,000 solar modules will provide an output of 17,400 kilowatts.

Masterplan CargoHub: Fraport plans comprehensive investment package for the freight location Frankfurt

Airport operator Fraport is strategically aligning the Frankfurt site for the forecasted growth in the air cargo market. Driven by the increasing global trade, the cargo business will continue to grow worldwide and in Europe in the medium to long term. Assuming that the Frankfurt CargoHub develops proportionally with the needs of the market, Fraport expects an air cargo volume of over three million tons at the site by 2040.

3RD QUARTER

Fraport signs agreement to sell its shares at Delhi Airport
Highest seat load factor since the existence of Frankfurt Airport

Final stretch at the construction site at the group airport in Lima

The expansion of the Jorge Chavez group airport in Lima is in its final stages. Following the completion of the second runway and the new air traffic control tower, the commissioning of the new terminal is anticipated for the first quarter in 2025. Trial operations and the final construction measures are in full swing, with up to 13,000 workers on the construction site per day.

Strikes by various unions dampen traffic development in Frankfurt
International group airports benefit from further traffic growth
Opening of Holiday parking in the new T3 parking garage

100 years like a flight

A century has passed since the founding of Südwestdeutsche Luftverkehrs AG marked the beginning of what is now Fraport AG and the development of Frankfurt am Main as an aviation hub. Fraport celebrates this anniversary with a year-long campaign centered around its home base, Frankfurt Airport – an airport with history and stories.

CONNECTING THE WORLD WITH TOMORROW as one of the world's leading airport operators

With the realignment of the corporate strategy Fraport.2030, a new claim is also being introduced. "Connecting the world with tomorrow" is Fraport's future guiding principle. Fraport.2030 includes consistent directional decisions and aims for sustainable future security and profitable business growth. In addition to their forward-looking significance for the longterm corporate development, the new corporate strategy also addresses the changed customer expectations of the products and services of a globally leading airport operator.

2ND QUARTER

Airport Ljubljana uses AI and computer vision technology to optimize handling processes
First in-person general meeting since the Covid-19 pandemic
283 destinations in the summer flight schedule in Frankfurt

Flooding at the Porto Alegre corporate site

Due to heavy rainfall and flooding, flight operations were suspended at the Porto Alegre corporate site starting on May 3, 2024, until further notice. In addition to supporting the employees, measures were initiated to resume flight operations as quickly as possible. Since the end of 2024, flight operations have been fully restored.

Sale of shares at Pulkovo Airport in St. Petersburg
The contract with Labor Director Julia Kranenberg is extended until 2030.

4TH QUARTER Fraport wins operating concession at Kalamata Airport

The Fraport AG, as part of an operating consortium, has won the operating concession for Kalamata Airport (KLX) in Greece. The concession includes the operation of the terminal as well as other land and airside infrastructure, including retail and parking areas. The concession period is 40 years and is expected to begin at the end of 2025, subject to pending approvals. The signing of the concession contract is planned for mid-2025.

Fraport Annual Report 2024 To Our Shareholders / Letter of the CEO 1

Despite the headwinds, we successfully achieved our targets thanks to the hard work and dedication of our employees, and our

2024 was a successful year for our major expansion projects: We have made great progress and achieved important milestones. The second of three piers at the new Terminal 3 has already been officially approved at the

2024 was a successful year for our major expansion projects: We have made great progress and achieved important milestones.

domestic flights and in December for international flights. It would not have been possible to get the airport running again so

From now on, this includes not just CO2, but all greenhouse gases relevant to the climate. This new target is in line with the

At this point, I would like to take a look ahead with you to what awaits us in 2025 and beyond. With our central location in Germany and Europe, our strong position in the cargo business, the effective hub product, and the expansion of capacity through the construction of Terminal 3, we are in an excellent position from a competitive perspective – despite the challenging regulatory requirements in Germany. Frankfurt will continue to be Germany's gateway to the world and one of the world's most important

quickly without the support of everyone who helped out, including the entire airport team and the local authorities.

Frankfurt site, and a large part of the work on the terminals in Lima and Antalya has also been completed. However, we were affected by the severe flooding in southern Brazil in May 2024, which caused human suffering and forced our Porto Alegre Airport to close with severe damage to large parts of the infrastructure. Despite this setback, the airport reopened in October for

Despite the headwinds, we

achieved our goals.

To Our Shareholders

I am pleased to present our Annual Report for 2024.

and the Middle East conflict, also played a significant role.

to keep a firm eye on measures in the area of sustainability.

airlines with planning security for the coming years.

new European Corporate Sustainability Reporting Directive (CSRD).

key operating earnings indicator EBITDA reached a new record high at 1,302 million Euros. This result was driven not just by our home site in Frankfurt, but also our inter-

Letter from the CEO

national portfolio.

to build on.

Our construction projects are making

great progress.

Our construction projects are making

great progress.

07 Letter from the CEO
10 The Fraport Executive Board
12 Report of the Supervisory Board
18 Joint Statement on Corporate Governance
34 Share and Investor Relations

Connecting the world with tomorrow

The corporate strategy Fraport.2030 includes consistent directional decisions aimed at sustainable future security and profitable business growth. In addition to its forward-looking significance for long-term corporate development, the new corporate strategy Fraport.2030 also addresses the changing customer expectations for the products and services of a globally leading airport operator. We see it as our overarching and collective task to delight our customers.

This ambition is reflected in our three central strategic priorities: Growth & Sustainability, Innovation & Efficiency, and Employer of Choice. The cultural development of our company also plays an important role in achieving our strategic goals and underscores the strategic dimension of Cooperation within the mission.

national portfolio.

to build on.

key operating earnings indicator EBITDA reached a new record high at 1,302 million

Fraport Annual Report 2024 To Our Shareholders / Letter of the CEO 1

Despite the headwinds, we

achieved our goals.

To Our Shareholders Letter from the CEO

To Our Shareholders

Letter from the CEO I am pleased to present our Annual Report for 2024. Despite the headwinds, we successfully achieved our targets thanks to the hard work and dedication of our employees, and our

I am pleased to present our Annual Report for 2024. Euros. This result was driven not just by our home site in Frankfurt, but also our inter-

Despite the headwinds, we successfully achieved our targets thanks to the hard work and dedication of our employees, and our key operating earnings indicator EBITDA reached a new record high at 1,302 million Euros. This result was driven not just by our home site in Frankfurt, but also our international portfolio. Despite the headwinds, we achieved our goals. Let's take a more in-depth look back at 2024. Although we recorded strong passenger growth of over 10 percent in Frankfurt at the start of the year, the recovery momentum weakened considerably over the course of the year. On average for the year, growth was 3.7 percent. This development can be attributed in particular to the high state-regulated site costs in Germany – namely: air

Let's take a more in-depth look back at 2024. Although we recorded strong passenger growth of over 10 percent in Frankfurt at the start of the year, the recovery momentum weakened considerably over the course of the year. On average for the year, growth was 3.7 percent. This development can be attributed in particular to the high state-regulated site costs in Germany – namely: air traffic tax. Delays in the delivery of aircraft and ongoing geopolitical crises, such as the Russian war of aggression against Ukraine and the Middle East conflict, also played a significant role. and the Middle East conflict, also played a significant role. Fortunately, it was largely a different picture at our international Group airports, with very dynamic growth rates. The Group companies in Greece, Lima, and Antalya performed particularly strongly. This also resulted in our international airport portfolio as a whole exceeding the record passenger level of the pre-crisis year 2019. A great success for the local teams, which we will continue

traffic tax. Delays in the delivery of aircraft and ongoing geopolitical crises, such as the Russian war of aggression against Ukraine

Fortunately, it was largely a different picture at our international Group airports, with very dynamic growth rates. The Group companies in Greece, Lima, and Antalya performed particularly strongly. This also resulted in our international airport portfolio as a whole exceeding the record passenger level of the pre-crisis year 2019. A great success for the local teams, which we will continue to build on. 2024 was a successful year for our major expansion projects: We have made great progress and achieved important milestones. The second of three piers at the new Terminal 3 has already been officially approved at the Frankfurt site, and a large part of the work on the terminals in Lima and Antalya has also been Our construction

2024 was a successful year for our major expansion projects: We have made great progress and achieved important milestones. which caused human suffering and forced our Porto Alegre Airport to close with severe damage great progress.

Our construction projects are making great progress.

projects are making

to keep a firm eye on measures in the area of sustainability.

The second of three piers at the new Terminal 3 has already been officially approved at the Frankfurt site, and a large part of the work on the terminals in Lima and Antalya has also been completed. However, we were affected by the severe flooding in southern Brazil in May 2024, which caused human suffering and forced our Porto Alegre Airport to close with severe damage to large parts of the infrastructure. Despite this setback, the airport reopened in October for to large parts of the infrastructure. Despite this setback, the airport reopened in October for domestic flights and in December for international flights. It would not have been possible to get the airport running again so quickly without the support of everyone who helped out, including the entire airport team and the local authorities. We have also resolutely pressed ahead with our sustainability initiatives and have started installing the 2.8-kilometer photovoltaic

completed. However, we were affected by the severe flooding in southern Brazil in May 2024,

domestic flights and in December for international flights. It would not have been possible to get the airport running again so quickly without the support of everyone who helped out, including the entire airport team and the local authorities. system running along Runway West in Frankfurt. By the end of 2024, we had already completed 12,000 modules with an output of 5.5 MW. With our new strategy "Fraport.2030," which we will discuss in more detail in the management report, we are continuing

We have also resolutely pressed ahead with our sustainability initiatives and have started installing the 2.8-kilometer photovoltaic system running along Runway West in Frankfurt. By the end of 2024, we had already completed 12,000 modules with an output of 5.5 MW. With our new strategy "Fraport.2030," which we will discuss in more detail in the management report, we are continuing to keep a firm eye on measures in the area of sustainability. In addition to operational and financial targets, Fraport.2030 also contains two key sustainability goals, namely "top employer" and "growth and sustainability," with climate protection forming a core component of our sustainability strategy. We expanded our previous target in 2024: The Fraport Group is committed to achieving net zero in Scopes 1 and 2 at all fully consolidated sites by

From now on, this includes not just CO2, but all greenhouse gases relevant to the climate. This new target is in line with the

In addition to operational and financial targets, Fraport.2030 also contains two key sustainability goals, namely "top employer" and "growth and sustainability," with climate protection forming a core component of our sustainability strategy. We expanded our previous target in 2024: The Fraport Group is committed to achieving net zero in Scopes 1 and 2 at all fully consolidated sites by 2045. From now on, this includes not just CO2, but all greenhouse gases relevant to the climate. This new target is in line with the new European Corporate Sustainability Reporting Directive (CSRD). new European Corporate Sustainability Reporting Directive (CSRD). In terms of operations, shortly before the end of the year we concluded negotiations with our airline customers in Frankfurt regarding a multi-year contract for the development of airport charges. I would like take this opportunity to thank our customers for their trusting cooperation. Under the new agreement, the charges relevant to us in the Aviation segment will increase by a total

In terms of operations, shortly before the end of the year we concluded negotiations with our airline customers in Frankfurt regarding a multi-year contract for the development of airport charges. I would like to take this opportunity to thank our customers for their trusting cooperation. Under the new agreement, the charges relevant to us in the Aviation segment will increase by a total of approximately 17 percent or, on average, by around 4 percent per year over the next four years. This will provide us and the airlines with planning security for the coming years. airlines with planning security for the coming years. At this point, I would like to take a look ahead with you to what awaits us in 2025 and beyond. With our central location in Germany and Europe, our strong position in the cargo business, the effective hub product, and the expansion of capacity through the construction of Terminal 3, we are in an excellent position from a competitive perspective – despite the challenging regulatory

of approximately 17 percent or, on average, by around 4 percent per year over the next four years. This will provide us and the

requirements in Germany. Frankfurt will continue to be Germany's gateway to the world and one of the world's most important

aviation hubs; we are committed to ensuring this remains the case. With our international diversification, we are well positioned

as a Group beyond the borders of Frankfurt. Once the major construction projects have been completed, the global Group airports will offer us growth potential for years to come. In the meantime, approximately half of our net result is already generated by activities outside Frankfurt.

Frankfurt remains the world's most important air traffic hub.

Some very important milestones lie ahead in 2025. Most importantly, we will bring our major expansion projects over the finish line, with both the new midfield terminal in Lima and the creation of additional capacity in Antalya set for completion. This will be followed by the completion of construction on our major project in Frankfurt, keeping us on track to bring Terminal 3 into operation after Easter 2026.

We need to further increase efficiency and productivity.

By contrast, we are expecting to see only moderate traffic growth in Frankfurt this year due to the continued delays in delivery from aircraft manufacturers, which are particularly affecting our main customer, Lufthansa. That is why we are also focus-

ing on working even more efficiently, driving digitalization forward, and ultimately increasing productivity and cutting costs. This is the only way to ensure financial growth and competitiveness in the long term.

Our expectations for 2025 show that we are on the right track. In terms of EBITDA, we expect moderate growth in the single-digit percentage range. With rising interest costs, higher depreciation and amortization and, in particular, the loss of the positive oneoff income from the sale of the Group company in St. Petersburg, there will be a more moderate development in the Group result. Depending on the operating development, we expect this to be at the level of 2024 or below. There will be a significant improvement in our free cash flow in 2025 following the completion of a number of major capital expenditure projects. After years of negative cash flow – we are moving towards brek-even. We then expect to see a turnaround over the following years to reach a clearly positive free cash flow.

Due to the continuing high level of Group debt, the Supervisory Board and the Executive Board have again decided not to propose a dividend to the 2025 Annual General Meeting and to instead allocate the profit earmarked for distribution to revenue reserves, thus strengthening our base of shareholders' equity.

Dear shareholders, after our successful in-person meeting last year, I am looking forward to welcoming you to our Annual General Meeting on May 27, 2025 at the Sheraton Hotel at Frankfurt Airport. You will receive an official invitation in April.

I would like to thank you for your confidence in us and I look forward to a successful future with you.

Sincerely yours,

Stefan Schulte

The Fraport Executive Board

"With Fraport.2030, we are laying the foundation for first-class service, high quality, and efficient and digital processes today and in the future."

Dr. Stefan Schulte Chairman of the Executive Board Born in 1960 Appointed until August 31, 2027

"Our strategic priority to be a Employer of Choice remains firmly in focus. The success of our Group depends significantly on our employees."

Julia Kranenberg Executive Director Labor Relations Born in 1971 Appointed until Oktober 31, 2030

"We are developing the Frankfurt site in both passenger and cargo areas together with our customers according to actual demand. Quality and sustainability are our focus."

Dr. Pierre Dominique Prümm Executive Director Aviation and Infrastructure Born in 1973 Appointed until July 31, 2029

"For our customers, we provide the optimal environment to meet ecological and economic demands and continue to grow."

Anke Giesen Executive Director Retail & Real Estate Born in 1963 Appointed until December 31, 2025

"With the completion of the expansion programs, we will reach a milestone. Future organic growth, combined with significantly reduced investments, will sustainably strengthen the financial stability of the Group."

Prof. Dr Matthias Zieschang Executive Director Controlling and Finance Born in 1961 Appointed until August 31, 2028

Report of the Supervisory Board

The Supervisory Board performed all the tasks incumbent on it under law, the company statutes, as well as the rules of procedure and continuously monitored the management of the company in the 2024 fiscal year. The Supervisory Board regularly obtained timely and comprehensive information from the Executive Board, in writing and orally, on the proposed business policies, fundamental questions concerning future management and corporate planning, the situation and development of the company and the Group, as well as significant business transactions, and consulted with the Executive Board on these matters. Deviations in the business development from the planning were explained in detail to the Supervisory Board. Based on the reports of the Executive Board, the Supervisory Board extensively discussed significant business transactions of the company. The Executive Board harmonized the strategic alignment of the company with the Supervisory Board. In addition, the Chairman of the Executive Board maintained regular contact with the Chairman of the Supervisory Board and informed him about current developments concerning the business situation as well as substantial business transactions. The Supervisory Board was directly involved in all decisions of fundamental importance to the company. Where required by law, the company statutes, or rules of internal procedure, the Supervisory Board voted on the relevant proposals made by the Executive Board after having thoroughly examined and consulted on those matters.

In the reporting period, the Supervisory Board met five times, including a strategy meeting, in-person, with individual members given the option of virtual participation.

Focal Points of Discussions of the Supervisory Board

The business development of the Fraport Group and its Group companies was discussed regularly by the Supervisory Board in the 2024 fiscal year with a focus on traffic and revenue development at Frankfurt Airport, construction and capital expenditure, as well as digitalization and cybersecurity issues.

Apart from this regular reporting, the following matters were extensively discussed in the 2024 fiscal year, in particular:

The expansion of capacity in the southern part of Frankfurt Airport was a focal point of the reporting. Progress in the construction of Terminal 3 (including the new gates) and its traffic connection (in particular the connection via the passenger transportation system) have been the subject of in-depth discussions at all meetings. The inauguration of the new terminal facilities at the Frankfurt site, scheduled for 2026, is still proceeding according to plan.
The company's liquidity requirements and the securing of the liquidity required for the ongoing further expansion in Frankfurt, Lima, and Antalya were dealt with on a recurring basis. The raising of further loan funds was approved.
The Supervisory Board dealt on an ongoing basis with the effects of the flood disaster at Porto Alegre Airport (Brazil), the resulting damage and the measures taken in this context through to the resumption of flight operations there. The Supervisory Board also regularly discussed the disposal process relating to the indirect investment in Pulkovo Airport, St. Petersburg, and Delhi International Airport Ltd.
A strategy meeting focused on cybersecurity issues and the company's cybersecurity strategy. Market and traffic development and developments in competition were also discussed, as well as the digitalization strategy.
The Supervisory Board dealt with the HRneo program, the personnel management transformation program for implementing the human resources strategy and realignment of the Human Resources division to the changed market conditions and employee needs.
The Supervisory Board discussed the amendment to the statutes proposed to the Annual General Meeting. This amendment adapted Section 15(2) sentence 4 of the company statutes to the amended wording of Section 123(4) sentence 2 of the German Stock Corporation Act (AktG). In addition, Section 4 of the company statutes was reformulated by the Supervisory Board on account of the authorization pursuant to Section 11(3) of the statutes, because the Executive Board's authorization contained therein to increase the capital stock by €3,500,000 in the period up to May 22, 2022 with the consent of the Supervisory Board no longer had any regulatory content due to the passage of time.
In addition, the Supervisory Board dealt with the financial statements and management reports of the company and the Group as at December 31, 2023, as well as the 2023 Annual Report and reached the necessary decisions on their approval and adoption.

Furthermore, the Supervisory Board made specific decisions on the following subjects, among others:

The Supervisory Board adopted the agenda for the ordinary Annual General Meeting on May 28, 2024. In addition, the Supervisory Board decided to propose to the Annual General Meeting that Deloitte GmbH Wirtschaftsprüfungsgesellschaft, Frankfurt/Main, be appointed as the auditor and group auditor for the 2024 fiscal year. It also decided to propose to the Annual General Meeting the approval of the remuneration system for the members of the Executive Board that it had previously approved and the remuneration report for the 2023 fiscal year.
At its meeting on June 17, 2024, the Supervisory Board approved the submission of a binding offer for the concession of the Greek Kalamata Airport Captain Vassilis Constantakopoulos together with consortium partners to which the tendering authority awarded the contract in favor of Fraport AG and its consortium partners.
In August 2024, the Supervisory Board approved the sale of the indirect investment in Pulkovo Airport, St. Petersburg, and the investment in Delhi International Airport Ltd. by written procedure on the recommendation of the Investment and Capital Expenditure Committee.
At the meeting on December 13, 2024, the Supervisory Board appointed Ms. Julia Kranenberg as a member of the Executive Board with effect from November 1, 2025 for a further five years.
On December 13, 2024, the Supervisory Board discussed the company's capital requirements and approved the proposed financing framework for 2025 as well as further borrowings within this financing framework through loans, bonds, or other debt instruments.
On December 13, 2024, the Supervisory Board approved the 2025 Business Plan.

Work of the Committees

The Supervisory Board continued its successful work with the committees it had formed to increase efficiency and to prepare for the Supervisory Board meetings. In individual appropriate cases and in accordance with law, decision-making powers of the Supervisory Board were granted to the committees. The chairpersons of the committees provided regular reports at the next Supervisory Board meeting to the plenum of the Supervisory Board on the work of the committees. The composition and responsibilities of the individual committees can be found in the "Combined Statement on Corporate Governance" chapter as well as on the Group's website at www.fraport.com/en/investors/corporate-governance.html.

Unless otherwise noted in the following, the meetings of the committees took place in-person with the option of virtual participation for individual members.

The finance and audit committee met six times during the reporting period, with two of these meetings held as virtual meetings, and discussed substantial business transactions, the annual and consolidated financial statements, and the management reports. Representatives of the auditor participated in the meetings on individual agenda items. The finance and audit committee prepared the determination of the focal points of the 2024 fiscal year audit of accounts for the Supervisory Board. The interim report and the interim releases were discussed in detail prior to their publication. Comments were also made on the 2025 Business Plan of Fraport AG (prepared in accordance with the German Commercial Code, HGB) and the 2025 Group Plan (prepared in accordance with IFRS). Furthermore, the committee dealt with the awarding of the audit mandate to the auditor and made proposals to the plenum for the election of the auditor for the 2024 fiscal year. The quality of the audit of accounts was monitored and the remuneration of the same discussed. Furthermore, the issuing of mandates for non-audit-related services to the auditor was discussed. A proposal was made to the plenum to recommend to the Annual General Meeting that Deloitte GmbH Wirtschaftsprüfungsgesellschaft, Frankfurt/Main, be appointed as the auditor and group auditor for the 2024 fiscal year. Furthermore, with regard to the review of CSR reporting, the recommendation of the Supervisory Board was in favor of this auditing company.

Further focal points of the discussions were asset and liability management as well as the regular supplementary reports to the consolidated financial statements and/or the consolidated interim reports in accordance with Section 90 of the AktG. In addition, the committee discussed risk management and the internal control, internal audit, and compliance management systems in detail and ensured that the Supervisory Board was appropriately informed.

The discussions at the four meetings of the investment and capital expenditure Committee in the 2024 financial year focused on the economic development of the investment business and the expansion measures in Germany as well as the foreign investments. In the 2024 financial year, the investment and capital expenditure dealt intensively with the effects of the flood disaster at the airport in Porto Alegre (Brazil) and the measures taken to deal with the resulting damage as well as the gradual resumption of flight operations. Another focus was the ongoing discussion of the sale of the equity investments in the operator of Pulkovo Airport, St. Petersburg, and Delhi International Airport Ltd. The Equity Investments and Investment Committee recommended to the Supervisory Board by written procedure that the Supervisory Board approve the sale of the equity investment in the operator of Pulkovo Airport, St. Petersburg, and Delhi International Airport Ltd..

A particular focus was on the expansion in the southern part of Frankfurt Airport, which was intensively discussed at all committee meetings in the presence of the management of the responsible Group company Fraport Ausbau Süd GmbH, also with a view to the discussions by the Supervisory Board. The committee also dealt with the expansion of the airport in Lima. Further items of the discussions were the expansion obligation at Antalya Airport according to the new concession and its financing. Fraport Annual Report 2024 To Our Shareholders / Joint Statement on Corporate Governance 7

The committee regularly dealt with the economic situation of the Group companies at the Frankfurt site and worldwide. It discussed in detail the capital expenditure made under the 2024 Business Plan as well as the capital expenditure planning for the 2025 fiscal year.

Another focal point of discussions was the development of the percentage of women in top management and management posi-

The executive committee met three times during the reporting period. It dealt with Executive Board matters and remuneration

The nomination committee formed in preparation for the election of new shareholder representatives did not meet in the 2024

The mediation committee, to be constituted in accordance with Section 27 of the German Co-Determination Act (MitbestG), also

The training and education measures required for the tasks of the members of the Supervisory Board are carried out independently. The company continued its willingness to support the training and education measures for Supervisory Board

During the 2024 fiscal year, the members of the Supervisory Board attended meetings of the Supervisory Board and of the com-

Investment and capital expenditure committee

The Executive Board and the Supervisory Board also addressed the implementation of the German Corporate Governance Code

Human resources committee

Executive committee

Committee in accordance with Section 27 of the MitbestG (Mediation committee)

Nomination committee

committee

Michael Boddenberg (Chair) 5 / 5 (100 %) 3 / 3 (100 %)

Hakan Bölükmese 5 / 5 (100 %) 4 / 4 (100 %) 3 / 3 (100 %)

Dr. Margarete Haase 5 / 5 (100 %) 6 / 6 (100 %) 1 / 3 (33,34 %)

Mike Josef 4 / 5 (80 %) 2 / 3 (66,67 %) Frank-Peter Kaufmann 5 / 5 (100 %) 3 / 4 (75 %) 3 / 4 (75 %) 2 / 3 (66,67 %)

Matthias Pöschko 5 / 5 (100 %) 4 / 4 (100 %) 3 / 3 (100 %) Mathias Venema (Vice-Chair) 5 / 5 (100 %) 6 / 6 (100 %) 3 / 3 (100 %)

Özgür Yalcinkaya 5 / 5 (100 %) 6 / 6 (100 %) 3 / 3 (100 %)

Karina Becker-Lienemann 5 / 5 (100 %) 4 / 4 (100 %) 4 / 4 (100 %) Dr. Bastian Bergerhoff 4 / 5 (80 %) 3 / 6 (50 %) 2 / 4 (50 %)

Sidar Kaya 5 / 5 (100 %) 6 / 6 (100 %) 4 / 4 (100 %)

Karin Knappe 5 / 5 (100 %) 4 / 4 (100 %) 4 / 4 (100 %)

Sonja Wärntges 4 / 5 (80 %) 6 / 6 (100 %) 4 / 4 (100 %) Prof. Dr.-Ing. Katja Windt 5 / 5 (100 %) 3 / 4 (75 %) 4 / 4 (100 %)

Kathrin Dahnke 2 / 5 (40 %) 4 / 4 (100 %)

Lothar Klemm 5 / 5 (100 %) 6 / 6 (100 %) 4 / 4 (100 %)

Felix Kreutel 5 / 5 (100 %) 4 / 4 (100 %)

Corporate Governance and Statements of Compliance

tions.

fiscal year.

members.

of personnel expenses and remuneration.

issues arising in the 2024 fiscal year.

did not meet during the 2024 fiscal year.

mittees of which they were members as follows:

Attendance at Supervisory Board and committee meetings 2024 Member of the Supervisory Board Supervisory Board Finance and audit

Devrim Arslan 5 / 5 (100 %) 6 / 6 (100 %)

Ines Born 5 / 5 (100 %)

Harry Hohmeister 5 / 5 (100 %)

(GCGC) in the past year.

Training and Education

Meeting Attendance

year.

At its four meetings in the 2024 fiscal year, the human resources committee regularly discussed the human resources situation in the Group. At the Frankfurt site, the focus was on the HRneo development program in human resources and the development of personnel expenses and remuneration.

Fraport Annual Report 2024 To Our Shareholders / Joint Statement on Corporate Governance 7

Another focal point of discussions was the development of the percentage of women in top management and management positions.

The executive committee met three times during the reporting period. It dealt with Executive Board matters and remuneration issues arising in the 2024 fiscal year.

The nomination committee formed in preparation for the election of new shareholder representatives did not meet in the 2024 fiscal year.

The mediation committee, to be constituted in accordance with Section 27 of the German Co-Determination Act (MitbestG), also did not meet during the 2024 fiscal year.

Training and Education

Meeting Attendance

During the 2024 fiscal year, the members of the Supervisory Board attended meetings of the Supervisory Board and of the committees of which they were members as follows:

Member of the Supervisory Board		Supervisory Board Finance and audit	Investment and	Human resources	Executive	Committee in	Nomination
		committee	capital	committee	committee	accordance	committee
			expenditure			with Section 27 of
			committee			the MitbestG
						(Mediation
						committee)

Michael Boddenberg (Chair)	5 / 5 (100 %)				3 / 3 (100 %)
Devrim Arslan	5 / 5 (100 %)	6 / 6 (100 %)
Karina Becker-Lienemann	5 / 5 (100 %)		4 / 4 (100 %)	4 / 4 (100 %)
Dr. Bastian Bergerhoff	4 / 5 (80 %)	3 / 6 (50 %)		2 / 4 (50 %)
Ines Born	5 / 5 (100 %)
Hakan Bölükmese	5 / 5 (100 %)			4 / 4 (100 %)	3 / 3 (100 %)
Kathrin Dahnke	2 / 5 (40 %)		4 / 4 (100 %)
Dr. Margarete Haase	5 / 5 (100 %)	6 / 6 (100 %)			1 / 3 (33,34 %)
Harry Hohmeister	5 / 5 (100 %)
Mike Josef	4 / 5 (80 %)				2 / 3 (66,67 %)
Frank-Peter Kaufmann	5 / 5 (100 %)		3 / 4 (75 %)	3 / 4 (75 %)	2 / 3 (66,67 %)
Sidar Kaya	5 / 5 (100 %)	6 / 6 (100 %)		4 / 4 (100 %)
Lothar Klemm	5 / 5 (100 %)	6 / 6 (100 %)	4 / 4 (100 %)
Karin Knappe	5 / 5 (100 %)		4 / 4 (100 %)	4 / 4 (100 %)
Felix Kreutel	5 / 5 (100 %)		4 / 4 (100 %)
Matthias Pöschko	5 / 5 (100 %)		4 / 4 (100 %)		3 / 3 (100 %)
Mathias Venema (Vice-Chair)	5 / 5 (100 %)	6 / 6 (100 %)			3 / 3 (100 %)
Sonja Wärntges	4 / 5 (80 %)	6 / 6 (100 %)		4 / 4 (100 %)
Prof. Dr.-Ing. Katja Windt	5 / 5 (100 %)		3 / 4 (75 %)	4 / 4 (100 %)
Özgür Yalcinkaya	5 / 5 (100 %)	6 / 6 (100 %)			3 / 3 (100 %)

Attendance at Supervisory Board and committee meetings 2024

Corporate Governance and Statements of Compliance

at www.fraport.com/en/investors/corporate-governance.html.

utive Board; the annual financial statements were thus adopted.

agement report:

that the net profit for the 2024 financial year be allocated to retained earnings.

Conflicts of Interest and their Treatment

The Executive Board and the Supervisory Board also addressed the implementation of the German Corporate Governance Code (GCGC) in the past year.

8 To Our Shareholders / Joint Statement on Corporate Governance Fraport Annual Report 2024

In this context, the Supervisory Board has also continued its regular efficiency audit. In the reporting year, this self-assessment was discussed in-depth at the Supervisory Board meeting held on December 13, 2024.

Further details on Corporate Governance and the wording of the current statement of compliance pursuant to Section 161 of the AktG, released by the Executive Board and the Supervisory Board on December 13, 2024, are provided in the "Combined Statement on Corporate Governance." The current and past statements of compliance can also always be found on the Group's website

There were no conflicts of interest for members of the Supervisory Board and the Executive Board in the 2024 fiscal year.

the finance and audit committee in accordance with the resolution of the Annual General Meeting of May 28, 2024.

makes it possible to identify developments that could jeopardize the company as a going concern at an early stage.

Deloitte GmbH Wirtschaftsprüfungsgesellschaft, Frankfurt/Main, audited the annual financial statements of Fraport AG and the consolidated financial statements as at December 31, 2024, as well as the combined management report, and issued an unqualified auditor's report for each. The audit mandate was issued by the Chairman of the Supervisory Board and the Chairwoman of

The annual financial statements and the combined management report were prepared in accordance with the regulations of the HGB applicable to large capital companies and the consolidated financial statements were prepared in accordance with International Financial Reporting Standards (IFRS) as applicable in the European Union (EU). Furthermore, the German legal regulations to be applied in addition to Section 315e(1) of the HGB in the preparation of the consolidated financial statements and the combined management report were applied. The annual financial statements, consolidated financial statements, and the combined management report were audited by the auditor. The consolidated financial statements and the combined management report meet the conditions for exemption from the preparation of consolidated financial statements in accordance with German commercial law. According to the auditor, there is an early risk recognition system in place that meets the legal requirements and which

The documents mentioned above and the proposal of the Executive Board for the appropriation of profit earmarked for distribution were sent to the Supervisory Board by the Executive Board without delay. The finance and audit committee of the Supervisory Board examined these documents extensively and the Supervisory Board also reviewed them personally. The audit reports of Deloitte GmbH Wirtschaftsprüfungsgesellschaft and the financial statements were available to all members of the Supervisory Board and were comprehensively dealt with in the accounting meeting of the Supervisory Board on March 14, 2025, in the presence of the auditor, who reported on the significant results of its audit and was available to respond to additional questions and provide further information. In the meeting, the Chairwoman of the finance and audit committee provided a comprehensive report on the treatment of the annual financial statements and the consolidated financial statements in the finance and audit committee. A focal point of this reporting were the key audit matters described in the auditor's report. The Supervisory Board approved the results of the audit of accounts. After the completion of the audit by the finance and audit committee and its own review, the Supervisory Board did not raise any objections. The Supervisory Board approved the financial statements prepared by the Exec-

The profit earmarked for distribution of Fraport AG amounted to €171.8 million in the past fiscal year.In view of the economic impacts of the coronavirus pandemic, particularly the increase in net financial debt of the Fraport Group, the Executive Board intends, as it did in the previous year, to propose to the Annual General Meeting in 2025 that no dividend be paid for the 2024 financial year, but rather that the net profit for the 2024 financial year be allocated to retained earnings. In the medium term, the Executive Board aims to resume dividend payments. Before the start of the coronavirus pandemic, the dividend policy envisaged a distribution of approximately 40% to 60% of the net profit attributable to the shareholders of Fraport AG. After thorough consideration, the Supervisory Board has agreed with the Executive Board's proposal, in view of the interests of the company and its shareholders, to propose to the Annual General Meeting in 2025 that no dividend be paid for the 2024 financial year, but rather

The report prepared by the Executive Board on the relationships of Fraport AG with affiliated companies pursuant to Section 312 of the AktG (dependency report) for the period from January 1, 2024 to December 31, 2024 was submitted to the Supervisory Board. The report concludes with the following statement of the Executive Board, which was also included in the combined man-

Audit of Annual and Consolidated Financial Statements as well as Remuneration Report

was discussed in-depth at the Supervisory Board meeting held on December 13, 2024.

In this context, the Supervisory Board has also continued its regular efficiency audit. In the reporting year, this self-assessment

Conflicts of Interest and their Treatment

There were no conflicts of interest for members of the Supervisory Board and the Executive Board in the 2024 fiscal year.

8 To Our Shareholders / Joint Statement on Corporate Governance Fraport Annual Report 2024

Audit of Annual and Consolidated Financial Statements as well as Remuneration Report

"The Executive Board declares that under the circumstances known to us at the time, Fraport AG received fair and adequate compensation for each and every legal transaction conducted. During the reporting year, measures were neither taken nor omitted at the request of or in the interests of the State of Hesse and the City of Frankfurt/Main and their affiliated companies."

the consideration paid by the company for the legal transactions referred to in the report was not unreasonably high."

Ultimately, it was determined that the combined non-financial reporting is correct and complies with the requirements under

"Based on our mandatory audit and the conclusions reached, we confirm that

in all material respects. The audit report is attached to the Remuneration Report.

the combined non-financial reporting extensively and it was also reviewed by the Supervisory Board.

the effective disclosures made in the report are correct,

Audit of the Non-Financial Reporting

German commercial law.

Frankfurt am Main, March 14, 2025

Former Minister Michael Boddenberg (Chairman of the Supervisory Board)

was available for additional questions and information.

approved.

Fraport Annual Report 2024 To Our Shareholders / Joint Statement on Corporate Governance 9

The auditor reviewed the report on the relationships with affiliated companies and issued the following auditor's report:

at the request of or in the interests of the State of Hesse and the City of Frankfurt/Main and their affiliated companies."

"Based on our mandatory audit and the conclusions reached, we confirm that Fraport Annual Report 2024 To Our Shareholders / Joint Statement on Corporate Governance 9

the effective disclosures made in the report are correct,
the consideration paid by the company for the legal transactions referred to in the report was not unreasonably high." "The Executive Board declares that under the circumstances known to us at the time, Fraport AG received fair and adequate

The auditor participated in the discussions with the Supervisory Board on March 14, 2025 on the report regarding the relationships with affiliated companies and was available to the Supervisory Board to provide additional information. After the final result of the audit of the dependency report, no objections were made to the declaration of the Executive Board at the end of the report, which was also included in the combined management report. The outcome of the audit of the dependency report by the auditor was approved. compensation for each and every legal transaction conducted. During the reporting year, measures were neither taken nor omitted at the request of or in the interests of the State of Hesse and the City of Frankfurt/Main and their affiliated companies." The auditor reviewed the report on the relationships with affiliated companies and issued the following auditor's report: "Based on our mandatory audit and the conclusions reached, we confirm that

Deloitte GmbH Wirtschaftsprüfungsgesellschaft was also commissioned to review the content of the Remuneration Report of Fraport AG as at December 31, 2024 as prepared by the Executive Board and the Supervisory Board. In addition to the formal examination required by law in accordance with Section 162(1) and (2) of the AktG, the content of the Remuneration Report was also reviewed. Based on the substantive audit, the auditor was able to form an opinion on this with reasonable assurance and confirmed in the context of the audit report that the Remuneration Report complies with the provisions of Section 162 of the AktG in all material respects. The audit report is attached to the Remuneration Report. 1. the effective disclosures made in the report are correct, 2. the consideration paid by the company for the legal transactions referred to in the report was not unreasonably high." The auditor participated in the discussions with the Supervisory Board on March 14, 2025 on the report regarding the relationships with affiliated companies and was available to the Supervisory Board to provide additional information. After the final result of the

Audit of the Non-Financial Reporting audit of the dependency report, no objections were made to the declaration of the Executive Board at the end of the report, which

The Supervisory Board is also responsible for auditing the content of the combined non-financial statement. As part of the preparation for this audit, the auditor Deloitte GmbH Wirtschaftsprüfungsgesellschaft was commissioned to prepare a voluntary audit of the combined non-financial statement with limited assurance. The finance and audit committee of the Supervisory Board examined the combined non-financial reporting extensively and it was also reviewed by the Supervisory Board. was also included in the combined management report. The outcome of the audit of the dependency report by the auditor was approved. Deloitte GmbH Wirtschaftsprüfungsgesellschaft was also commissioned to review the content of the Remuneration Report of Fraport AG as at December 31, 2024 as prepared by the Executive Board and the Supervisory Board. In addition to the formal

At the accounting meeting of the Supervisory Board on March 14, 2025, the auditor, in addition to the results of its audit of the financial reporting, also reported on the significant results of its audit of the combined non-financial reporting and, in this regard, was available for additional questions and information. examination required by law in accordance with Section 162(1) and (2) of the AktG, the content of the Remuneration Report was also reviewed. Based on the substantive audit, the auditor was able to form an opinion on this with reasonable assurance and confirmed in the context of the audit report that the Remuneration Report complies with the provisions of Section 162 of the AktG in all material respects. The audit report is attached to the Remuneration Report. Fraport-Geschäftsbericht 2024 Weitere Informationen / Finanzkalender 2024 / Verkehrskalender 2024 / Impressum 1

Ultimately, it was determined that the combined non-financial reporting is correct and complies with the requirements under German commercial law. Audit of the Non-Financial Reporting The Supervisory Board is also responsible for auditing the content of the combined non-financial statement. As part of the prepa-

ration for this audit, the auditor Deloitte GmbH Wirtschaftsprüfungsgesellschaft was commissioned to prepare a voluntary audit of Personnel particulars

Frankfurt am Main, March 14, 2025 Former Minister Michael Boddenberg (Chairman of the Supervisory Board) the combined non-financial statement with limited assurance. The finance and audit committee of the Supervisory Board examined the combined non-financial reporting extensively and it was also reviewed by the Supervisory Board. At the accounting meeting of the Supervisory Board on March 14, 2025, the auditor, in addition to the results of its audit of the financial reporting, also reported on the significant results of its audit of the combined non-financial reporting and, in this regard, was available for additional questions and information. Ultimately, it was determined that the combined non-financial reporting is correct and complies with the requirements under German commercial law. At its meeting on March 14, 2025, the Supervisory Board resolved to reappoint Prof. Dr. Zieschang as a member of the Executive Board for a further two years and seven months, i.e. until August 31, 2028, with effect from February 1, 2026. From the Supervisory Board's point of view, the reasons for this were the goal of continuing the high level of investment in a positive free cash flow, resuming dividend payments and driving forward the reduction of debt, which has risen sharply as a result of the COVID-19 pandemic. In the view of the Supervisory Board, Prof. Dr. Zieschang's many years of experience are of great value for the financial stability of Fraport AG and the Fraport Group. In view of the current economic uncertainties and challenges with regard to the implementation of the new Group strategy Fraport.2030 it is of crucial importance for the Supervisory Board to ensure continuity and stability for the Executive Board member responsible for controlling and finance. In the case of the (re)appointment of Prof. Dr. Zieschang, there will therefore be an exceptional deviation from the generally stipulated age limit of 65 years. The Supervisory Board also adheres to the age limit of 65 years that has been set in principle.

Frankfurt am Main, March 14, 2025

Former Minister Michael Boddenberg (Chairman of the Supervisory Board)

Combined Statement on Corporate Governance

The Fraport AG Executive Board reports – in the name of the Supervisory Board as well – on the contents subject to the reporting requirements pursuant to Section 289f of the HGB for Fraport AG as well as for the Fraport Group (Fraport AG and fully consolidated Group companies, hereinafter referred to as "Fraport") as part of a combined statement on corporate governance pursuant to Sections 315d and 289f of the HGB in conjunction with Section 289f of the HGB, in order to enable a general statement on the Group's corporate governance principles. In this context, the Executive Board and Supervisory Board report in accordance with Principle 23 of the German Corporate Governance Code in its amended version from April 28, 2022 as published on June 27, 2022 (hereinafter: GCGC) on the corporate governance of the company. This statement is an integral part of the combined management report.

The term "corporate governance" at Fraport means responsible corporate management and monitoring. The objectives of corporate governance at Fraport are long-term economic enhancement and creating as well as strengthening confidence among investors, customers, employees, and the public. Good corporate governance therefore has top priority at Fraport. In this context, efficient collaboration between the Executive Board and the Supervisory Board is as important as protecting shareholders' interests and maintaining open and transparent corporate communications. Fraport monitors the national and international developments in this area and regularly reviews its own corporate practices in connection with new legal regulations and revised national and international standards, and modifies it to meet these as required.

In accordance with Section 317(2) sentence 6 of the HGB, the following information pursuant to Sections 289f(2) and (5) and 315d of the HGB has been included by the auditor in the audit of the annual financial statements only to the extent that the auditor verified whether the information was actually given.

Statement of Compliance Pursuant to Section 161 of the German Stock Corporation Act (AktG)

As a publicly listed corporation headquartered in Germany, corporate governance at Fraport AG primarily orients itself to German stock corporation law, capital market law, and the suggestions and recommendations of the GCGC as amended. The GCGC is a major legal regulation for the management and supervision of German publicly listed companies and contains internationally and nationally recognized standards of good and responsible corporate governance in the form of recommendations and suggestions. There is no obligation to implement the suggestions and recommendations of the GCGC. However, under Section 161 of the AktG the Executive Board and the Supervisory Board are obliged to issue a statement of compliance and to report and justify any deviations from the recommendations of the GCGC.

Statement of Compliance of December 13, 2024

The Executive Board and the Supervisory Board last issued the following statement of compliance under Section 161 of the AktG on December 13, 2024:

"Since the last presentation of the statement of compliance on December 14, 2023, Fraport AG has complied with and will continue to comply with all recommendations announced on June 27, 2022 by the Government Commission on the German Corporate Governance Code in the amended version of April 28, 2022 (GCGC 2022)."

The statement of compliance was promptly made permanently available to the shareholders on the company's website at www.fraport.de/corporategovernance.

GCGC Recommendations

Fraport AG also voluntarily complies with the recommendations of the GCGC.

Disclosures on Corporate Management Practices

Beyond the statutory provisions, Fraport applies the following corporate management practices:

Structure and Functioning of the Executive Board and Supervisory Board

For Fraport, a responsible and transparent corporate governance and monitoring framework is the cornerstone for creating value and trust. In accordance with the statutory provisions, Fraport AG is subject to a "dual governance system," which is achieved by the strict separation of personnel in the management and monitoring bodies (two-tier board). The Executive Board manages Fraport AG, and the Supervisory Board monitors the Executive Board. The members of the Executive Board and the Supervisory Board work closely together in the interests of the company.

Executive Board

As the management body, the Executive Board conducts the business of the company. It is bound by the company's interests and corporate sociopolitical principles within the framework of stock corporation law. In addition, its work is based on the "Executive Board rules of procedure," which have been approved by the Supervisory Board. The schedule of responsibilities for the Executive Board, which governs the allocation of responsibilities, is also attached to these rules of procedure as an annex.

The Executive Board develops the strategic direction of the company, harmonizes it with the Supervisory Board, and ensures its implementation. In accordance with the rules of procedure for the Executive Board, decisions on fundamental issues concerning the organization, business policies, and capital expenditure and financial planning of the company are assigned to the entire Executive Board.

The Executive Board reports to the Supervisory Board on all relevant matters of business development, corporate strategy, and possible risks in a regular, timely, and comprehensive manner. The Executive Board must have the prior approval of the Supervisory Board for certain material matters, particularly for capital expenditure and equity investment measures above a value of €10 million, to the extent that this is not provided for in a business plan approved by the Supervisory Board.

The Executive Board of Fraport AG is currently made up of the following five members: Dr. Stefan Schulte (Chairman), Anke Giesen, Julia Kranenberg, Dr. Pierre Dominique Prümm, and Prof. Matthias Zieschang.

CVs of the members of the Executive Board with information on their areas of responsibility, their many years of experience within and outside the Fraport Group, and their academic background and qualifications are also available on the company's website at https://www.fraport.com/en/our-group/about-us/executive-board.html. All members of the Executive Board have extensive experience and expertise in the areas of corporate strategy and corporate policy.

The length of the appointment of the Executive Board members is geared toward the long term and is five years as a standard. In deviation from this standard, the Supervisory Board in 2021 extended the appointment of Prof. Zieschang as a member of the Executive Board for a further three years and ten months until January 31, 2026, and in 2022 extended the appointment of Ms. Giesen for a further three years with effect from January 1, 2023. Furthermore, in its meeting on September 15, 2023, the Supervisory Board decided to extend the appointment of Dr. Schulte as a member of the Executive Board with effect from September 1, 2024 for an additional three years until August 31, 2027. The current appointment of Dr. Prümm will continue until June 30, 2029.

Ms. Kranenberg was initially appointed as a member of the Executive Board for a term of three years when she was first appointed in 2022 in accordance with recommendation B.3 of the GCGC. At its meeting on December 13, 2024, the Supervisory Board resolved to appoint Ms. Kranenberg to the Executive Board for a further five years with effect from November 1, 2025. Ms. Kranenberg's appointment thus ends on November 1, 2030.

In accordance with Section 84(1) sentence 3 of the AktG, the aforementioned reappointments did not take place before one year of the members' respective terms of office had passed.

The age limit for members of the Executive Board has, in principle, been set at 65 by the Supervisory Board. In the case of Dr. Schulte, the Supervisory Board had dealt in-depth with the age limit in its meeting on September 15, 2023 and decided, as an exception, to deviate from the fundamentally set age limit of 65 years in the (re)appointment of Dr. Schulte until August 31, 2027. Reasons for the (re)appointment of Dr. Schulte until August 31, 2027 and the deviation from the fundamentally set age limit of 65 years as an exception were the continuing expansions in Frankfurt, Lima, and Antalya for which the Supervisory Board regarded continuity in the office of the Chairman of the Executive Board due to Dr. Schulte's many years of experience and his many years of departmental responsibility for these projects until 2027 as important and in the interests of the company.

At its meeting on March 14, 2025, the Supervisory Board resolved to reappoint Prof. Dr. Zieschang as a member of the Executive Board for a further two years and seven months, i.e. until August 31, 2028, with effect from February 1, 2026. From the Supervisory Board's point of view, the reasons for this were the goal of continuing the high level of investment in a positive free cash flow, resuming dividend payments and driving forward the reduction of debt, which has risen sharply as a result of the COVID-19 pandemic. In the view of the Supervisory Board, Prof. Dr. Zieschang's many years of experience are of great value for the financial stability of Fraport AG and the Fraport Group. In view of the current economic uncertainties and challenges with regard to the implementation of the new Group strategy Fraport.2030 it is of crucial importance for the Supervisory Board to ensure continuity and stability for the Executive Board member responsible for controlling and finance. In the case of the (re)appointment of Prof. Dr. Zieschang, there will therefore be an exceptional deviation from the generally stipulated age limit of 65 years. The Supervisory Board also adheres to the age limit of 65 years that has been set in principle.

Remuneration of the Executive Board comprises fixed and performance-related components. The Remuneration Report for the 2024 fiscal year, the auditor's report as per Section 162 of the AktG, and the applicable remuneration system for the Executive Board are published at https://www.fraport.com/en/investors/publications-events.html.

The Executive Board generally meets once a week and constitutes a quorum if at least half of its members attend the meeting. It passes resolutions by a simple majority of the votes cast by the members of the Executive Board participating in the resolution. In the event of a tie, the Chairman has the casting vote.

Further information on the members of the Executive Board as well as their memberships to be disclosed in accordance with Section 285(10) of the HGB and information on the respective responsibilities can be found in note 55 of the Group Notes as part of the 2024 Annual Report.

Supervisory Board

The Supervisory Board of Fraport AG supervises the activities of the Executive Board. It is composed of an equal number of shareholder and employee representatives and comprises 20 members as provided for in the company statutes. The ten shareholder representatives are elected by the Annual General Meeting, and the ten employee representatives are elected by the employees in accordance with the German Co-Determination Act (MitbestG) for five years. The Supervisory Board has created rules of procedure, under which it has a quorum if – on the basis of a proper notice of meeting – at least half of its members participate in the voting in person or through submission of written votes. Resolutions are adopted with a simple majority unless otherwise mandated by law. In the event of a tied vote, the Chairman of the Supervisory Board, who must be a shareholder representative, shall be entitled to a second vote. Beyond this, the rules of procedure provide for, in particular, the creation and powers of committees of the Supervisory Board.

The Supervisory Board is informed by the Executive Board about all issues relevant to the company, in particular matters concerning strategy, planning, business development, the risk situation, risk management, and compliance, in a regular, timely, and comprehensive manner. In the event of any deviations in the business development from the established plans and agreed targets, these are explained to the Supervisory Board by the Executive Board, stating the reasons for the deviations. The Supervisory Board may request additional information from the Executive Board at any time.

Apart from the cases prescribed by law and those specified in the rules of procedure of the Executive Board, the Executive Board requires the approval of the Supervisory Board in accordance with the company statutes for transactions and measures that substantially change the corporate structure or the corporate strategy or that lead to a substantial change in the company's development.

As a rule, the Supervisory Board meets four times a year. In 2024, the Supervisory Board held five meetings, one of which was a strategy meeting. The Supervisory Board meetings in 2024 were all held in-person, while individual members had the option of participating virtually. In 2024, the Supervisory Board also met without the Executive Board.

The Supervisory Board regularly conducts a self-assessment of the effectiveness of its activities and those of its committees. The efficiency review is typically carried out alternately in a structured process with the help of external consultants and through selfassessment. In 2024, the self-assessment of the Supervisory Board took place through a structured survey using a questionnaire, the results of which were thoroughly discussed in the Supervisory Board meeting on December 13, 2024.

The Supervisory Board explains its activities in the past fiscal year on an annual basis in the Supervisory Board report. The Supervisory Board report for the 2024 fiscal year can be found under "To Our Shareholders" in the 2024 Fraport Annual Report. The Remuneration Report for the 2024 fiscal year, the auditor's report as per Section 162 of the AktG, the applicable remuneration system for the Executive Board, and the most recent remuneration resolution as per Section 113(3) of the AktG are published at https://www.fraport.com/en/investors/publications-events.html.

At the time of publication of this combined statement on corporate governance, the Supervisory Board was composed as follows:

Composition of the Supervisory Board

Representatives of the shareholders	Representatives of the employees
Michael Boddenberg (Chair)	Mathias Venema (Vice Chair)
(Member of Supervisory Board since 26.05.2020)	(Member of Supervisory Board since 01.07.2020)
Dr. Bastian Bergerhoff	Devrim Arslan
(Member of Supervisory Board since 24.05.2022)	(Member of Supervisory Board since 31.05.2013)
Kathrin Dahnke	Karina Becker-Lienemann
(Member of Supervisory Board since 23.05.2023)	(Member of Supervisory Board since 23.05.2023)
Dr. Margarete Haase	Ines Born
(Member of Supervisory Board since 01.01.2011)	(Member of Supervisory Board since 19.07.2022)
Harry Hohmeister	Hakan Bölükmese
(Member of Supervisory Board since 23.05.2023)	(Member of Supervisory Board since 29.05.2018)
Mike Josef	Sidar Kaya
(Member of Supervisory Board since 23.05.2023)	(Member of Supervisory Board since 23.05.2023)
Frank-Peter Kaufmann	Karin Knappe
(Member of Supervisory Board since 30.05.2014)	(Member of Supervisory Board since 08.06.2022)
Lothar Klemm	Felix Kreutel
(Member of Supervisory Board since 10.05.1999)	(Member of Supervisory Board since 23.05.2023)
Sonja Wärntges	Matthias Pöschko
(Member of Supervisory Board since 16.10.2020)	(Member of Supervisory Board since 01.01.2021)
Prof. Dr.-Ing. Katja Windt	Özgür Yalcinkaya
(Member of Supervisory Board since 11.05.2012)	(Member of Supervisory Board since 23.05.2023)

Further information on the members of the Supervisory Board as well as their memberships to be disclosed in accordance with Section 285(10) of the HGB can be found in note 56 of the Group Notes as part of the 2024 Fraport Annual Report. CVs of the members of the Supervisory Board are available on the company's website under Supervisory Board and Economic Advisory Board.

Committees of the Supervisory Board

The Supervisory Board has formed the following committees based on the statutory provisions and the provisions of its rules of procedure. The following table provides an overview of the tasks, the regulated number of meetings, the actual number of meetings in the past fiscal year, the planned number of members, and the actual number of members as at the date of publication of this statement.

Committees of the Supervisory Board

Committee	Functions	Regular	Meetings	Regular	Members
		number of	2024	number of
		meetings		members
	Finance and audit committee > Preparation of resolutions in the area of finance and audit-related resolutions > Addressing in particular	4	6		8 Dr. Margarete Haase (Chair) Mathias Venema (Vice-Chair) Devrim Arslan
	> the audit of accounts > the supervision of the accounting process > the effectiveness of the internal control system,				Dr. Bastian Bergerhoff Sidar Kaya Lothar Klemm
	the risk management system, the internal audit system, the audit of accounts, and compliance > Statement of opinion > on the business plan and plan changes that require approv al, on the annual and consolidated financial statements, on the Executive Board recommendation for the appropriation of profits, on the combined management report, on the com-bined non-financial statement, on the audit report of the auditor of the financial statements and of other auditors, on the Supervisory Board's recommendation for the audit				Sonja Wärntges Özgür Yalcinkaya
	report, and on the discharge of the Executive Board > on the awarding of the audit mandate to the auditor, the fee agreement and the stipulation of the focus of the audit > The finance and audit committee is responsible for the auditor selection process > It monitors the independence of the auditor and the quality of the audit of accounts. In this regard, it provides its advance consent to all of the auditor's legitimate non-audit services.
Investment and capital expenditure committee	> Preparation of resolutions relating to capital expenditure, resolutions or decisions concerning the founding, acquisition, and sale of Group companies and ongoing monitoring of the economic development of existing Group companies > Final decision on the creation, acquisition, or sale of direct or indirect Group companies if the obligation or entitlement of the company arises from a capital expenditure or an in vest-ment-related action between €10,000,000.01 and €30,000,000 > Final decision on the acquisition or disposal of, or charge on property or land rights between €5,000,000.01 and €10,000,000 > Statement of opinion on the capital expenditure plan and on capital expenditure reporting	4	4		8 Lothar Klemm (Chair) Felix Kreutel (Vice-Chair) Karina Becker-Lienemann Kathrin Dahnke Frank-Peter Kaufmann Karin Knappe Matthias Pöschko Prof. Dr.-Ing. Katja Windt
	Human resources committee > Preparation of resolutions in the area of human resources > Statement of opinion, in particular on changes in headcount, fundamental issues relating to collective bargain ing law, the payment system, the employee investment plan, matters concerning the company retirement plan	4	4		8 Hakan Bölükmese (Chair) Frank-Peter Kaufmann (Vice-Chair) Karina Becker-Lienemann Dr. Bastian Bergerhoff Sidar Kaya Karin Knappe Sonja Wärntges Prof. Dr.-Ing. Katja Windt
Executive committee	> Preparations for the appointment of members of the Execu-tive Board and the conditions of employment contracts, including remuneration > Final decision concerning outside activities of members of the Executive Board that require the approval of the Su per-visory Board	As needed	3		8 Chairman of the Supervisory Board Michael Boddenberg (ex officio) Vice Chairman Mathias Venema (ex officio) Hakan Bölükmese Dr. Margarete Haase Mike Josef Frank-Peter Kaufmann Matthias Pöschko Özgür Yalcinkaya
Committee in accordance with Section 27 of the Mit bestG (Mediation committee)	> Preparation of a recommendation on the appointment or dismissal of members of the Executive Board if the entire Supervisory Board does not reach such decision	As needed	0		4 Chairman of the Supervisory Board Michael Boddenberg (ex officio) Vice Chairman of the Supervisory Board Mathias Venema (ex officio) Hakan Bölükmese Lothar Klemm
Nomination committee	> Recommendation of suitable candidates to the Supervisory Board for its recommendations to the AGM	As needed	0		3 Chairman of the Supervisory Board Michael Boddenberg (ex officio) Dr. Margarete Haase Mike Josef

Shareholders and Annual General Meeting

The shareholders of Fraport AG exercise their rights at the Annual General Meeting where they exercise their right to a voice and a vote. The shareholders are informed of business developments in the past year and the company's forecasts included in the combined management report with sufficient time prior to the meeting. During the year, the shareholders are provided with comprehensive and timely information about current business developments through interim reports and other company publications on the company website.

The Annual General Meeting is held within the first eight months of every fiscal year and makes decisions concerning the tasks assigned to it by law, such as the appropriation of profits, election and approval of the actions of the members of the Supervisory Board and approval of the actions of the members of the Executive Board, the selection of the auditor, amendments to the company statutes, Supervisory Board remuneration, approval of the remuneration system for Executive Board members, and other tasks. The shareholders can either exercise their right to vote in person or can authorize third parties to exercise their right to vote. Each share entitles its holder to one vote in the Annual General Meeting.

In accordance with the company statutes, the Executive Board is authorized to provide for

the Annual General Meeting to be held without the physical presence of shareholders or their proxies at the venue of the Annual General Meeting (virtual Annual General Meeting) – this authorization is limited in time and applies to Annual General Meetings held within three years of the commercial register entry made in June 2023 of this new provision in the company statutes created by the 2023 Annual General Meeting and can be extended or renewed (also several times) by a corresponding resolution of the Annual General Meeting;
shareholders to cast their votes in writing or by means of electronic communication (postal vote);
shareholders to participate in an Annual General Meeting that is not a virtual Annual General Meeting within the meaning of the company statutes without being present at the venue and without proxy and to exercise all or some of their rights in whole or in part by means of electronic communication (online participation).

The Annual General Meeting was held as an in-person meeting in 2024. Among other things, it resolved to amend the company statutes by adapting Section 15(2) sentence 4 of the statutes to the amended wording of Section 123(4) sentence 2 of the AktG and approved the remuneration system for the members of the Executive Board.

Defining Targets for the Proportion of Women on the Supervisory Board, Executive Board, and the two Levels Below the Executive Board

According to the German Stock Corporation Act, Fraport AG, as a listed company to which the German Co-Determination Act applies and whose Executive Board consists of more than three persons, must have at least one woman and at least one man as a member of the Executive Board (minimum participation requirement). Fraport AG complied with this requirement during the 2024 fiscal year.

The targets for the proportion of women at the two management levels below the Executive Board as well as the deadlines for reaching these targets must be determined based on this law.

It is not necessary to set targets for the proportion of women on the Supervisory Board at Fraport AG because that board is already subject to a fixed gender quota in accordance with Section 96(2) of the AktG.

Targets for the Executive Board

If the above-mentioned minimum participation requirement applies to the Executive Board, the obligation to set a target figure for the participation of women on the Executive Board is waived in accordance with the provisions of the German Stock Corporation Act. The Supervisory Board set a target of 25% of women on the Fraport AG Executive Board at its meeting of September 18, 2015, and this target remained even after the obligation to set targets for the Executive Board had been eliminated. Since Julia Kranenberg's joining the Executive Board of Fraport AG on November 1, 2022, the percentage of women on the Executive Board of Fraport AG is 40%.

Targets for the First and Second Management Levels Below the Executive Board

The Executive Board sets the targets for the proportion of women at the two levels below the Executive Board in accordance with Section 76(4) of the German Stock Corporation Act and Principle 3 of the GCGC.

The Executive Board set a target for Fraport AG of 31.8% of women in the first management level below the Executive Board ("direct reports" to the Executive Board) and a target of 30.9% of women in the subordinate management level ("direct reports" to the first management level under the Executive Board) for the period from January 1, 2022 to December 31, 2026. Regarding the Group as a whole, the Executive Board also set a target of 30.8% of women in the first management level below the Executive Board ("direct reports" to the Executive Board) and a target of 30.2% of women in the subordinate management level ("direct reports" to the first management level under the Executive Board) for the same period.

As at the balance sheet date of December 31, 2024, the actual proportion of women in the first management level at Fraport AG was 26.3%, and 31.9% in the second management level. As at the balance sheet date of December 31, 2024, the actual proportion of women in the first management level within the Group was 28.6%, and 33.3% in the second management level.

In 2024, the Executive Board also focused on diversity when filling management positions in the company, and in particular sought to ensure that appropriate consideration was given to the proportion of women in these positions. To this end, various programs have already been adopted in the past that establish the advancement of women into management positions and diversity at Fraport.

Gender Ratio on the Supervisory Board

In accordance with Section 96 (2) of the AktG (Principle 11 of the GCGC), where members are newly elected and posted to the Supervisory Board of Fraport AG, the statutory gender ratio must be met, with a minimum of 30% women and 30% men on the Supervisory Board. The Supervisory Board had decided in the context of the last Supervisory Board election in 2023 that these ratios are to be met separately by the shareholder representatives and the employee representatives on the Supervisory Board. These requirements were met by the composition of the Supervisory Board of Fraport AG in 2024.

Targets for the Composition of the Supervisory Board, Diversity Concept for the Supervisory Board and Executive Board as well as the Succession Planning for the Executive Board; Expertise and Qualification Matrix of the Members of the Supervisory Board

The Supervisory Board has established the following requirements profile for its members:

The objective is that the Supervisory Board should be composed in such a way that it ensures the competent control and support of the company's management by the Supervisory Board. It should be taken into account that the Supervisory Board as a collective body has the overall knowledge, skills, and professional experience required to properly perform its tasks. It cannot be expected that each individual member of the Supervisory Board possesses the required knowledge and experience to the fullest extent; however, there should be at least one competent member of the Board for each aspect of the Supervisory Board's activities to ensure that the Board's members together represent a comprehensive range of knowledge and experience. This should include an understanding of the relevant market environment, financial, and commercial experience, and a strong regional connection.

In addition, each member of the Supervisory Board should be expected to have a certain level of essential general knowledge and experience that is appropriate to the nature, extent, and complexity of the business activities, and the risk structure of an internationally operating company such as Fraport AG.

In order to comply with the standard age limit set by the Supervisory Board of 72 years at the time of election or re-election, which may be deviated from in justified individual cases provided there are no doubts as to the suitability of the persons proposed and their election appears expedient in the interests of the Company despite exceeding the age limit and the targets set by the Supervisory Board of a proportion of generally at least 30% of shareholder representatives on the Supervisory Board being no more than 62 years old at the time of their election, candidates should be proposed who, by virtue of their integrity, willingness to perform, availability, and personality, are able to perform the duties of a Supervisory Board member in an internationally operating company and to maintain the public image of Fraport AG. The principles of diversity and the proportion of women and men based on the statutory provisions should be taken into account when nominating candidates for the Board. In addition, the Supervisory Board should have at least three independent members.

In the election of shareholder representatives by the 2023 Annual General Meeting, Mr. Klemm and Mr. Kaufmann were older than 72 years at the time of reelection. The Supervisory Board had discussed this fact at its meeting on March 13, 2023 and proposed the election of Mr. Klemm and Mr. Kaufmann for a term of two years with the required majority, while a term of five years was proposed to the Annual General Meeting for the other candidates. The reasons given for the deviation from the standard age limit as an exception in the cases of Mr. Klemm and Mr. Kaufmann were that Mr. Klemm, as the Chairman of the investment and capital expenditure committee, should assist with the construction of Terminal 3 and the expansion of the airports in Lima and Antalya as important infrastructure projects in this critical phase for another two years due to his many years of experience, and that Mr. Kaufmann is highly committed to advancing the important issues of climate protection and decarbonization. The 2023 Annual General Meeting agreed to the election proposal and reelected Mr. Klemm and Mr. Kaufmann to the Supervisory Board for a two-year term of office as an exception to the general age limit of 72 years at the time of reelection. As the term of office of two members of the Supervisory Board therefore differs from that of the other Supervisory Board members, this also paves the way for the gradual formation of a Supervisory Board with staggered terms of office for Supervisory Board members ("staggered board") for the future.

As regards the statutory gender ratio of at least 30% women and at least 30% men on the Supervisory Board, the Supervisory Board had decided in 2022 that this ratio is to be met separately for the members representing the shareholders and those representing the employees. In line with this objective, the Supervisory Board currently consists of four female and six male shareholder representatives as well as three female and seven male employee representatives (see above under "Gender ratio on the Supervisory Board").

According to Section 100(5) of the AktG, at least one member of the Supervisory Board must have accounting expertise and at least one further member must have expertise in the auditing of accounts. According to recommendation D.3 of the GCGC, the expertise in the field of accounting shall consist of special knowledge and experience in the application of accounting principles and internal control and risk management systems, and the expertise in the field of account auditing shall consist of special knowledge and experience in the auditing of financial statements. Recommendation D.3 of the GCGC goes on to state that accounting and account auditing also include sustainability reporting and its audit and assurance. The Chairwoman of the audit committee shall have appropriate expertise in at least one of these two areas.

With Supervisory Board members Dr. Margarete Haase, who is Chairwoman of the finance and audit committee, and Ms. Sonja Wärntges, two members of the Supervisory Board and the finance and audit committee possess the expertise in accounting and account auditing required by Section 100(5) of the AktG. In addition, Ms. Dahnke also has expert knowledge in accounting and account auditing pursuant to Section 100(5) of the AktG.

Dr. Haase has a degree in business administration from the Vienna University of Economics and Business, where she also obtained her doctorate. She has also completed the Executive Education Program at Harvard Business School in Boston. During her professional career, Dr. Haase has been responsible for numerous roles, which marks her as an expert in the fields of accounting and account auditing. She has held positions that include Head of Controlling, Division Manager for Group Planning and Control, Commercial Director and Director Corporate Audit, and was also a member of the Executive Board for companies belonging to the Daimler Group. Dr. Haase was a member of the Executive Board for Corporate Finance, Human Resources and Investor Relations at Deutz AG, Cologne until April 2018. As of February 2016, Dr. Haase has been a member of the Government Commission on the German Corporate Governance Code.

Ms. Wärntges completed degrees in economics at the Technical University of Braunschweig and the University of Hanover, from where she obtained a master's degree in business economics. Ms. Wärntges worked for several years at leading auditing and tax consulting companies and has been Chief Financial Officer of BRANICKS GROUP AG (formerly DIC Asset AG) as of 2013, additionally assuming the role of Chief Executive Officer in 2017. In this role, Ms. Wärntges' areas of responsibility include Environmental, Social and Governance and sustainability issues, as well as the sustainability report, which BRANICKS GROUP AG (formerly DIC Asset AG) has been issuing as of 2011.

Ms. Dahnke holds a degree in business administration from the Georg August University in Göttingen. She headed the finance department at Beiersdorf AG, held the position of Director of Finance and member of the Management Board for Finance and Controlling at DMG Mori Seiki Aktiengesellschaft (formerly GILDEMEISTER AG), and was CFO at both OSRAM Licht AG and Ottobock SE & Co KGaA.

The Supervisory Board of Fraport AG thus meets the requirements of stock corporation law with regard to the requirement of Supervisory Board members with expertise in the areas of accounting and account auditing.

For shareholders, the Supervisory Board should include what they consider to be an appropriate number of independent members; the ownership structure should be taken into account (see Recommendation C.6 of the GCGC). The Supervisory Board decided that the board should include at least three independent shareholder representatives.

In the view of the shareholders on the Supervisory Board, the above-mentioned objectives and recommendations were and are met in that, with Dr. Margarete Haase, Ms. Kathrin Dahnke, Prof. Katja Windt (Eng.), and Ms. Sonja Wärntges, the Supervisory Board consisted of four shareholder representatives who were independent of the company, its Executive Board, and the controlling shareholders (the State of Hesse and the City of Frankfurt) in the reporting year. In the election of the shareholder representatives, five – and therefore in line with the requirements profile for members of the Supervisory Board, more than 30% of the candidates standing for election on the shareholder side – were not older than 62 years of age.

In addition, Fraport AG also complies with recommendations C.7 and C.9 of the GCGC, according to which more than half of the shareholder representatives must be independent of the company and the Executive Board and at least two of the shareholder representatives must be independent of the controlling shareholder. According to recommendation C.7 of the GCGC, when assessing the independence of Supervisory Board members by the company and the Executive Board, it should be taken into account, among other things, whether the Supervisory Board member has been a member of the Supervisory Board for more than 12 years.

In the view of the shareholders on the Supervisory Board, despite having been a member of the Supervisory Board of Fraport AG for more than 12 years (member as of January 1, 2011), Dr. Haase is regarded as independent of the company and the Executive Board. Due to her personality, her integrity, and her professionalism, combined with many years of various professional activities with management responsibility outside of Fraport, there are no doubts with regard to her independence in respect of Fraport AG and the Executive Board. Through her work as a member of the Supervisory Board and Chairwoman of the finance and audit committee, Dr. Haase demonstrates that she has the necessary critical distance from the company and its Executive Board when carrying out her work on the Supervisory Board at Fraport AG. Due to her independence, she openly holds discussions with the Executive Board and understands how to critically scrutinize proposals. Furthermore, Dr. Haase is also a member of the Supervisory Board of ING Bank and of Marquard & Bahls AG and Chairwoman of the Supervisory Board of ams OSRAM AG, which emphasizes her independence of Fraport AG and its Executive Board.

Prof. Windt (Eng.) has also been a member of the Supervisory Board for more than 12 years (as of May 11, 2012). Prof. Windt (Eng.) is a member of the Management Board and Chief Digital Officer (CDO) of SMS group GmbH, Mönchengladbach, a company that has no business relations with Fraport AG. She also has a long scientific career and is a member of Leopoldina, the German National Academy of Sciences. Due to her independent academic and professional activities, her independence from the business interests of Fraport AG, her many years of experience, and her personality, the shareholders on the Supervisory Board are of the view that, despite her longstanding membership of the Supervisory Board, Prof. Windt can be regarded as independent pursuant to the German Corporate Governance Code.

The Supervisory Board has no former members of the Executive Board of Fraport AG.

The Supervisory Board, along with the Executive Board and based on the preparatory work by the executive committee, ensures the long-term succession planning of the Executive Board. In addition to the requirements of the German Stock Corporation Act and the GCGC, long-term succession planning takes into account the target set by the Supervisory Board for the proportion of women on the Executive Board. Taking into account the specific qualification requirements, the structure of the Executive Board, including the division of portfolios, and the aforementioned personnel criteria, the executive committee develops an ideal profile on the basis of which it draws up a shortlist of eligible candidates. Structured discussions are held with these candidates. A recommendation for a resolution is then submitted to the Supervisory Board. The Supervisory Board also takes diversity into account regarding the composition of the Executive Board (Recommendation B.1 of the GCGC). Given the identified qualifications of its members, the Supervisory Board does not yet pursue a diversity concept for the Executive Board.

The status of the implementation of the requirements profile for members of the Supervisory Board of Fraport AG is outlined in the following qualification matrix. The general requirements for members of the Supervisory Board of Fraport are met by all members of the Supervisory Board. These include a general understanding of the aviation industry, in particular the market environment of an airport operator, the individual business fields, customer requirements, the regions in which Fraport AG operates, and expertise in corporate policy and the strategic orientation of the company and the Group as a whole. All of the members of the Supervisory Board are therefore familiar with the sector in which Fraport AG operates.

The following table contains further details on the current members of the Supervisory Board. The qualifications described in the table are based on a self-assessment by the respective Supervisory Board members, which is repeated annually before the statement on corporate governance is issued.

Qualification matrix: Shareholder representatives Qualification matrix: Shareholder representatives

	Michael Boddenberg Michael Boddenberg	Dr. Bastian Bergerhoff Dr. Bastian Bergerhoff	Kathrin Dahnke Kathrin Dahnke	Dr. Margarete Haase Dr. Margarete Haase
Member since Member since	5/26/2020	5/26/2020 5/24/2022	5/24/2022 5/23/2023	5/23/2023 1/1/2011	1/1/2011
selected/ordered until selected/ordered until	May 2028	May 2028 May 2028	May 2028 May 2028	May 2028 May 2028	May 2028
Gender Gender	male	male male	male female	female female	female
Year of birth Year of birth	1959	1959 1968	1968 1960	1960 1953	1953
Nationality Nationality	German	German German	German German	German Austrian	Austrian
Educational background Educational background	Master in the butcher trade Master in the butcher trade	Doctor of Physics Doctor of Physics	Graduate businesswomen Graduate businesswomen	Doctorate in business Doctorate in business administration administration
Occupation Occupation	Former Hessian Minister of Former Hessian Minister of State, Member of the Hes State, Member of the Hes sian State Parliament sian State Parliament	City treasurer and head of City treasurer and head of the department of finance, the department of finance, investments and personnel investments and personnel of the city of of the city of Frankfurt am Main Frankfurt am Main	Self-employed Self-employed management consultant management consultant	Self-employed Self-employed management consultant management consultant
Independence of the Company and the Executive Board in Independence of the Company and the Executive Board in accordance with the GCGC (s. recommendation C.7 and accordance with the GCGC (s. recommendation C.7 and C.8) C.8)	X	X X	X X	X X	X
Independence from majority shareholders (s. recommen Independence from majority shareholders (s. recommen dation C.9) dation C.9)			X	X X	X
Leadership experience/Personnel management Leadership experience/Personnel management	X	X X	X	X	X
International business activities/international experience International business activities/international experience			X	X X	X
Accounting Accounting	X	X	X	X X	X
Audit Audit			X	X X	X
Internal control systems, risk management Internal control systems, risk management		X	X X	X X	X
Legal and compliance Legal and compliance
Sustainability/sustainability reporting Sustainability/sustainability reporting	X	X X	X X	X X	X
Strategy development and implementation Strategy development and implementation	X	X X	X X	X X	X
IT and digitalization, cyber and IT security IT and digitalization, cyber and IT security		X	X	X	X

Qualification matrix: Employee representatives Qualification matrix: Employee representatives

	Devrim Arslan Devrim Arslan	Karina Becker-Lienemann Karina Becker-Lienemann	Ines Born	Ines Born Hakan Bölükmese Hakan Bölükmese

Member since Member since	5/31/2013	5/31/2013 5/23/2023	5/23/2023 7/19/2022	7/19/2022 5/29/2018	5/29/2018
selected/ordered until selected/ordered until	May 2028	May 2028 May 2028	May 2028 May 2028	May 2028 May 2028	May 2028
Gender Gender	male	male female	female female	female male	male
Year of birth Year of birth	1977	1977 1970	1970 1989	1989 1976	1976
Nationality Nationality	German	German German	German German	German German/Turkish German/Turkish
Educational background Educational background	Automotive mechanic Automotive mechanic	Commercial training; Commercial training; qualification in the medical qualification in the medical dermatological field dermatological field	Public administration Public administration specialist and management specialist and management assistant for office assistant for office communication communication	Chemical laboratory Chemical laboratory assistant, certified aircraft assistant, certified aircraft ground services handler and ground services handler and studies at the European studies at the European Academy of Labor Academy of Labor
Occupation Occupation	Chairman of the Frankfurt Chairman of the Frankfurt Airport District Association Airport District Association of the komba trade union of the komba trade union	Chairwoman of the Works Chairwoman of the Works Council of Frankfurt Airport Council of Frankfurt Airport Retail GmbH & Co. KG, Retail GmbH & Co. KG, Chairwoman of the Group Chairwoman of the Group Works Council of Gebr. Works Council of Gebr. Heinemann SE & Co. KG, Heinemann SE & Co. KG, Deputy Chairwoman of the Deputy Chairwoman of the Group Works Council of Group Works Council of Fraport AG	Trade union secretary Trade union secretary (Trade union ver.di) (Trade union ver.di) Fraport AG	Full-time member of the Full-time member of the Works Council of the joint Works Council of the joint operation Fraport AG, FRA operation Fraport AG, FRA Vorfeldkontrolle GmbH and Vorfeldkontrolle GmbH and Fraport Ground Services Fraport Ground Services GmbH	GmbH
Independence of the Company and the Executive Board Independence of the Company and the Executive Board in accordance with the GCGC in accordance with the GCGC (s. recommendation C.7 and C.8) (s. recommendation C.7 and C.8)	X	X Employee	Employee X	X Employee	Employee
Independence from majority shareholders Independence from majority shareholders (s. recommendation C.9) (s. recommendation C.9)	X	X X	X X	X X	X
Leadership experience/Personnel management Leadership experience/Personnel management	X	X	X	X X	X
International business activities/international experience International business activities/international experience
Accounting Accounting			X	X
Audit Audit
Internal control systems, risk management Internal control systems, risk management
Legal and compliance Legal and compliance			X	X
Sustainability/sustainability reporting Sustainability/sustainability reporting			X	X
Strategy development and implementation Strategy development and implementation
IT and digitalization, cyber and IT security IT and digitalization, cyber and IT security

Doctorate in mechanical en-

Member of the Management Board of SMS group GmbH / Professor of Global Production Logistics

ration

Chairwoman of the Board of Directors of BRANICKS GROUP AG

(formerly DIC Asset AG)

gineering

Self-employed management consultant; former member of the Executive Board of Deutsche Lufthansa AG

Lord Mayor of Frankfurt

a.M.

20 To Our Shareholders / Joint Statement on Corporate Governance Fraport Annual Report 2024

Member since 5/26/2020 5/24/2022 5/23/2023 1/1/2011 selected/ordered until May 2028 May 2028 May 2028 May 2028 Gender male male female female Year of birth 1959 1968 1960 1953 Nationality German German German Austrian Educational background Master in the butcher trade Doctor of Physics Graduate businesswomen Doctorate in business

dation C.9) ^X ^X Leadership experience/Personnel management X X X International business activities/international experience X X Accounting X X X Audit X X Internal control systems, risk management X X X

Sustainability/sustainability reporting X X X X Strategy development and implementation X X X X IT and digitalization, cyber and IT security X X

20 To Our Shareholders / Joint Statement on Corporate Governance Fraport Annual Report 2024

Sustainability/sustainability reporting X X X X Strategy development and implementation X X X X IT and digitalization, cyber and IT security X X

Member since 5/31/2013 5/23/2023 7/19/2022 5/29/2018 selected/ordered until May 2028 May 2028 May 2028 May 2028 Gender male female female male Year of birth 1977 1970 1989 1976 Nationality German German German German/Turkish

(s. recommendation C.9) ^X ^X ^X ^X Leadership experience/Personnel management X X X

Automotive mechanic Commercial training;

qualification in the medicaldermatological field

Sustainability/sustainability reporting X X X X Strategy development and implementation X X X X IT and digitalization, cyber and IT security X X

Chairman of the Frankfurt Airport District Association of the komba trade union

Former Hessian Minister of State, Member of the Hessian State Parliament

Accounting X

Legal and compliance X Sustainability/sustainability reporting X

Chairman of the Frankfurt Airport District Association of the komba trade union

Accounting X

Legal and compliance X Sustainability/sustainability reporting X

Automotive mechanic Commercial training;

Member since 5/26/2020 5/24/2022 5/23/2023 1/1/2011 selected/ordered until May 2028 May 2028 May 2028 May 2028 Gender male male female female Year of birth 1959 1968 1960 1953 Nationality GermanGermanGermanAustrianEducational background Master in the butcher trade Doctor of Physics Graduate businesswomen Doctorate in business

qualification in the medicaldermatological field

qualification in the medicaldermatological field

City treasurer and head of the department of finance, investments and personnel

of the city of Frankfurt am Main

City treasurer and head of the department of finance, investments and personnel

of the city of Frankfurt am Main

of the city of Frankfurt am Main

City treasurer and head of the department of finance, investments and personnel

Former Hessian Minister of State, Member of the Hessian State Parliament

Michael Boddenberg Dr. Bastian Bergerhoff Kathrin Dahnke Dr. Margarete Haase

Self-employed management consultant

X X X X

Devrim Arslan Karina Becker-Lienemann Ines Born Hakan Bölükmese

Michael Boddenberg Dr. Bastian Bergerhoff Kathrin Dahnke Dr. Margarete Haase

Devrim Arslan Karina Becker-Lienemann Ines Born Hakan Bölükmese

Public administration specialist and management assistant for office communication

Self-employed management consultant

Trade union secretary (Trade union ver.di)

X X X X

Trade union secretary (Trade union ver.di)

X Employee X Employee

Devrim Arslan Karina Becker-Lienemann Ines Born Hakan Bölükmese

X Employee X Employee

Public administration specialist and management assistant for office communication

Trade union secretary (Trade union ver.di)

X Employee X Employee

administration

Self-employed management consultant

Chemical laboratory assistant, certified aircraft ground services handler and studies at the European Academy of Labor

administration

Self-employed management consultant

Full-time member of the Works Council of the joint operation Fraport AG, FRA-Vorfeldkontrolle GmbH and Fraport Ground Services

GmbH

Chemical laboratory assistant, certified aircraft ground services handler and studies at the European Academy of Labor

Full-time member of the Works Council of the joint operation Fraport AG, FRA-Vorfeldkontrolle GmbH and Fraport Ground Services

GmbH

Qualification matrix: Shareholder representatives

Independence of the Company and the Executive Board in accordance with the GCGC (s. recommendation C.7 and

Independence from majority shareholders (s. recommen-

Qualification matrix: Employee representatives

Qualification matrix: Shareholder representatives

Independence of the Company and the Executive Board

Independence from majority shareholders

Independence of the Company and the Executive Board

Independence of the Company and the Executive Board in accordance with the GCGC (s. recommendation C.7 and

Independence from majority shareholders (s. recommen-

International business activities/international experience

Independence of the Company and the Executive Board

International business activities/international experience

Qualification matrix: Employee representatives

International business activities/international experience

Internal control systems, risk management

Strategy development and implementation IT and digitalization, cyber and IT security

Occupation

C.8)

Occupation

Legal and compliance

Educational background

Occupation

C.8)

Occupation

Educational background

in accordance with the GCGC (s. recommendation C.7 and C.8)

Independence from majority shareholders

in accordance with the GCGC (s. recommendation C.7 and C.8)

Legal and compliance

in accordance with the GCGC (s. recommendation C.7 and C.8)

Internal control systems, risk management

Strategy development and implementation IT and digitalization, cyber and IT security

Educational background

in accordance with the GCGC (s. recommendation C.7 and C.8)

Independence from majority shareholders

Internal control systems, risk management

Strategy development and implementation IT and digitalization, cyber and IT security

Occupation

Audit

Occupation

Audit

C.8)

	Fraport Annual Report 2024 To Our Shareholders / Joint Statement on Corporate Governance Combined Management Report Consolidated Financials Statements X X To Our Shareholders / Joint Statement on Corporate Governance		To Our Shareholders Fraport Annual Report 2024
X X X To Our Shareholders / Joint Statement on Corporate Governance X X X		X	X	X Fraport Annual Report 2024 X
X X		X		X
X X				X
X X Sonja Wärntges Prof. Dr.-Ing. Katja Windt X X	Lothar Klemm	Frank-Peter Kaufmann X	Mike Josef	X Harry Hohmeister X
X X X Sonja Wärntges Prof. Dr.-Ing. Katja Windt Sonja Wärntges Sonja Wärntges Prof. Dr.-Ing. Katja Windt Prof. Dr.-Ing. Katja Windt 10/16/2020 X 5/11/2012 X	Lothar Klemm Lothar Klemm Lothar Klemm 5/10/1999	Frank-Peter Kaufmann Frank-Peter Kaufmann Frank-Peter Kaufmann 5/30/2014	X Mike Josef Mike Josef Mike Josef 5/23/2023	X Harry Hohmeister Harry Hohmeister Harry Hohmeister 5/23/2023 X
Sonja Wärntges Prof. Dr.-Ing. Katja Windt May 2028 May 2028 10/16/2020 5/11/2012 10/16/2020 5/11/2012	Lothar Klemm May 2025 5/10/1999 5/10/1999	Frank-Peter Kaufmann May 2025 5/30/2014 5/30/2014	Mike Josef May 2028 5/23/2023 5/23/2023	Harry Hohmeister May 2028 5/23/2023 5/23/2023
female female May 2028 May 2028 May 2028 May 2028 May 2028 May 2028 10/16/2020 5/11/2012	male May 2025 May 2025 May 2025 5/10/1999	male May 2025 May 2025 May 2025 5/30/2014	male May 2028 May 2028 May 2028 5/23/2023	male May 2028 May 2028 May 2028 5/23/2023
1967 1969 female female May 2028 May 2028	1949 male May 2025	1948 male May 2025	1983 male May 2028	1964 male May 2028
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7/1/2020 5/23/2023 (formerly DIC Asset AG) Production Logistics (formerly DIC Asset AG) Production Logistics (formerly DIC Asset AG) Production Logistics GROUP AG GmbH / Professor of Global May 2028 May 2028	1/1/2021 May 2028	5/23/2023 May 2028	6/8/2022 May 2028	5/23/2023 Deutsche Lufthansa AG Deutsche Lufthansa AG Deutsche Lufthansa AG of the Executive Board of May 2028
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Fraport Annual Report 2024 To Our Shareholders / Joint Statement on Corporate Governance 21

Harry Hohmeister Mike Josef Frank-Peter Kaufmann Lothar Klemm Sonja Wärntges Prof. Dr.-Ing. Katja Windt

Aviation merchant Graduate political scientist Degree in physics Lawyer Degree in business administ-

Pensioner, Self-employed management consultant

5/23/2023 5/23/2023 5/30/2014 5/10/1999 10/16/2020 5/11/2012 May 2028 May 2028 May 2025 May 2025 May 2028 May 2028 male male male male female female 1964 1983 1948 1949 1967 1969 German German German German German German

Former Minister of State of Hesse, self-employed lawyer

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Compliance

Ensuring the integrity of all employees worldwide is of great importance to Fraport. Compliance is a key prerequisite for the future viability of the company. In order to ensure compliance with the rules, guidelines are applied within Fraport that employees must comply with.The Code of Conduct for Employees that applies worldwide to the Fraport Group reflects the culture of values practiced at Fraport and stipulates the requirement to act responsibly and appropriately when dealing with the economic, legal, and moral challenges of everyday business. The Code of Conduct is reviewed regularly and updated when necessary.

There are several ways for employees, customers, suppliers, and other third parties around the world to report potential compliance breaches securely and in confidence. This includes information on violations of the German Act on Corporate Due Diligence Obligations in Supply Chains (LkSG), such as human rights violations and environmental crimes. Fraport has set up an electronic whistleblower system and appointed an external ombudsman for this purpose. Employees can also contact internal representatives. The information received is carefully and conscientiously evaluated and examined. Compliance breaches are systematically penalized, and any grievances are remedied. Whistleblowers are protected by the highest level of confidentiality and, where possible, by ensuring their anonymity.Fraport employees are regularly informed on the topic of compliance through various internal channels and undergo training courses. The Code of Conduct and other compliance guidelines in place at the Fraport Group are available to employees on the corresponding information platforms.In its Supplier Code of Conduct, Fraport describes the requirements and principles for cooperation with contractors, suppliers, and service providers. The contractually agreed Supplier Code of Conduct obliges them to comply with the applicable national laws and the relevant internationally recognized standards, guidelines, and principles, as also stipulated in the Code of Conduct.

The Compliance Management System (CMS) at Fraport is a systematic tool for ensuring legal and compliant behavior within the Group. The objective of the CMS is to ensure corporate management based on values and with integrity that goes beyond the mere fulfillment of standards. The CMS of Fraport AG is based on and starts with a rolling compliance risk analysis (CRA), which includes the fight against corruption as one focus area. Within the compliance system at the Fraport Group, a distinction must be made between central and local levels. Every member of the Executive Board of Fraport AG is also responsible for the organization of compliance within the Fraport Group. It has assigned the Head of the Legal Affairs and Compliance central unit, who also serves as Chief Compliance Officer, to develop, organize, and operate the CMS of Fraport AG. The Group companies are obliged to set up a local CMS in accordance with the minimum standards set out in the relevant Group guidelines. Responsibility for the individual CMS within the Group lies with the local management of the respective Group company. The central CMS organization is responsible for the Group's requirements with regard to the minimum standards for the design of the local CMS and monitoring of compliance with those requirements. The finance and audit committee is informed at least once per year of the status of the CMS within Fraport AG and the Group by the Executive Board.

Responsible Corporate Governance

Fraport is a community and partnership-oriented group. Fraport aims to remain competitive at all sites and in all operational units and thereby secure jobs with fair and just working conditions. Fraport offers good working conditions based on collective bargaining agreements, professional and personal development pathways, and a highly developed corporate ethic. The long-held objective of Fraport to offer all employees a high level of workplace security is a significant factor for the appeal of Fraport as an employer, especially in the current conditions of the labor market. Comprehensive, integrated occupational health and safety is also an important component of overall corporate responsibility at Fraport. Comprehensive protective measures have been taken at both the Frankfurt site and the Group airports.

At the start of 2024, the Executive Board announced the new Group strategy Fraport.2030. The aim of this new Group strategy is to inspire our customers and, from a financial perspective, to achieve the targets set for EBITDA and free cash flow in 2030. This aim is reflected in the three key strategic priorities: growth and sustainability, efficiency and innovation, and top employer.

In addition to the stated financial goals, the corporate strategy also includes ecological and social priorities and reflects the basic understanding of Fraport of balanced corporate management. The Fraport Group's pursuit of "growth and sustainability," "efficiency and innovation," and "top employer" makes sustainability a strategic priority for the Group. To this end, the Fraport Group is committed to maintaining a sustainable, conserving, and preventive approach to natural resources and the environment. The topic of sustainability has already been of particular significance for Fraport in recent years. The stated goal for Fraport AG and the Fraport Group is to achieve neutrality with regard to all greenhouse gases (net zero) within scopes 1 (direct emissions) and 2 (indirect emissions) by 2045. Ambitious milestones for greenhouse gas reductions on the path toward greenhouse gas neutrality by 2045 were agreed for both Fraport AG and the Fraport Group with a view to achieving this goal. In 2022, a "decarbonization master plan" was adopted to enable Fraport to meet its sustainability goals.

Starting with Fraport AG, the "decarbonization master plan" was successfully rolled out to all areas of the Fraport Group in the course of fiscal year 2023. Under the plan, the foreign equity holdings have defined measures for a carbon reduction path similar to the process at the Frankfurt site. A Decarbonization Board was created to ensure continuous monitoring of the implementation of the "decarbonization master plan," which regularly reports to the Executive Board on the implementation status of the measures. Examples of the numerous concrete measures taken to reduce CO2 emissions include the establishment of a ground-mounted photovoltaic system next to the North-West landing strip, the increasing purchase of green electricity, and the expansion of the infrastructure for alternative drive systems of vehicles at the Frankfurt site. Based on the findings of the Decarbonization Board, the Executive Board decided in 2024 to include not just CO2 emissions but all greenhouse gases in the reduction targets, and so to focus on greenhouse gas neutrality (net zero) as a new, overarching Group target. Accordingly, the Fraport Group is committed to achieving the target of net zero in scopes 1 and 2 at its home site in Frankfurt and at all other fully consolidated sites worldwide by 2045. Fraport is thus pursuing the Net Zero Initiative of ACI Europe (Airports Council International Europe) and numerous other international airports.

In addition to the pursuit of financial objectives, the Executive Board takes account of the non-financial criteria defined by the Board in its resolutions. Using non-financial indicators, such as greenhouse gas emissions, which are measured as at December 31 and June 30, and employee satisfaction, which is determined every two years, the company measures the degree of target achievement. Corporate planning includes projects and measures aimed at achieving the financial and sustainability-related goals. The level of remuneration of the members of the Executive Board is also linked to the achievement of key Group targets – in particular sustainable growth in Frankfurt/Main and internationally, as well as increased profitability and competitiveness. The changes made to the Executive Board remuneration system in 2024, which apply from January 1, 2025, are aimed in particular at further incentivizing the implementation of the sustainability strategy of the Fraport Group.

Lastly, Fraport AG is involved in community, cultural, and social initiatives by sponsoring associations and supporting volunteer activities.

Further corporate governance practices are publicly available on the company's website at www.fraport.com.

Further Information

Remuneration of the Executive Board and the Supervisory Board

The essential features of the remuneration system as well as the disclosures on the remuneration of the Executive Board and the Supervisory Board for the 2024 fiscal year can be found in the Remuneration Report. The Remuneration Report was subject to a formal and substantive audit by the auditor Deloitte GmbH Wirtschaftsprüfungsgesellschaft, Frankfurt/Main. The Remuneration Report is published as a separate document at https://www.fraport.com/en/investors/publications-events.html.

Acquisition or Disposal of Company Shares (directors' dealings)

Pursuant to Article 19 of the Market Abuse Regulation (MAR), board members and other managers (directors) and persons closely related thereto are legally obliged to disclose the acquisition or disposal of shares of Fraport AG or any financial instruments related thereto, if the value of the transactions undertaken exceeds the sum of €20,000 within one calendar year. The notifications in this respect are immediately disclosed by Fraport AG.

Shareholdings of the Bodies

The total shareholdings of all members of the Executive Board and Supervisory Board amount to less than 1% of the total number of shares issued by Fraport AG.

Risk and Opportunity Management

For Fraport, corporate governance also means handling corporate risks and opportunities responsibly. For this reason, Fraport has introduced a comprehensive Group-wide risk and opportunity management system. The structure of the risk and opportunity management system and a report on key risks and corporate opportunities are presented in detail by the Executive Board in the combined management report for the fiscal year. Depending on their importance for the company, changes to key risks or significant opportunities opening up during the year are published either in an ad hoc disclosure or as part of the financial reporting during the year.

The Internal Control System (ICS) and the Risk Management System (RMS) are implemented by means of guidelines within the Fraport Group. The measures required in order to meet the sustainability-related corporate goals are also subjected to an (ongoing) deviation analysis within the Risk Management System.

The processes, risks, and audits within the ICS are reviewed and updated annually by way of adequacy checks. The effectiveness of the ICS is checked by means of an annual control self-assessment performed by the control officer and approved by the process owner (dual verification principle). The results of the control self-assessment are presented annually in the finance and audit committee. The ICS and the further development of the RMS are audited by the internal audit team.

The early risk recognition system is also part of the auditor's annual audit. The effectiveness of the internal control and risk management system, the internal audit system, and the audit of accounts is monitored by the Supervisory Board. At Fraport, the finance and audit committee of the Fraport AG Supervisory Board performs this task in accordance with Section 107(3) of the AktG.

Accounting and Audit of Accounts

Fraport prepares its consolidated financial statements in accordance with International Financial Reporting Standards (IFRS) as applicable in the European Union, and the additional applicable requirements of German commercial law pursuant to Section 315e(1) of the HGB. A combined management report is prepared in accordance with Section 315(5) of the HGB. The annual financial statements of Fraport AG are prepared in accordance with the HGB. Further information on the accounting principles is available in the notes to the respective financial statements. The annual and consolidated financial statements are published within 90 days of the end of the fiscal year.

The annual and consolidated financial statements and the combined management report of Fraport are audited by an auditor in accordance with Section 316 of the HGB. On the basis of the AGM's resolution, in the 2023 fiscal year this was Deloitte GmbH Wirtschaftsprüfungsgesellschaft, Frankfurt/Main (hereinafter referred to as Deloitte), who audited Fraport for the first time after the change of auditor in the 2023 fiscal year. Prior to the submission of the nomination, the Supervisory Board and its audit committee obtained a declaration of independence from Deloitte. The audit of the consolidated financial statements and the combined management report was carried out in accordance with Section 317 of the HGB and the EU Audit Regulation (No. 537/2014, hereinafter referred to as "EU Audit Regulation") and in compliance with German Generally Accepted Standards for Financial Statement Audits promulgated by the Institut der Wirtschaftsprüfer [Institute of Public Auditors in Germany] (IDW). It was agreed with the auditor that the latter would immediately inform the Fraport AG Supervisory Board of any possible grounds for disqualification or bias arising during the audit, provided that these were not remedied immediately. The auditor shall also immediately report on all findings and incidents arising during the audit of the consolidated financial statements and the combined management report which are significant for the tasks of the Supervisory Board. In addition, the auditor must inform the Supervisory Board and record in the audit report if it finds facts that reveal an inaccuracy in the statement of compliance submitted by the Executive Board and Supervisory Board in accordance with Section 161 of the AktG while performing the audit of the consolidated financial statements and the combined management report.

During the year, the auditor also participated in meetings with the finance and audit committee regarding the Group interim financial statements, and meetings with the Fraport AG Supervisory Board regarding the annual and consolidated financial statements. In accordance with Recommendation D.10 of the GCGC, the finance and audit committee discussed with the auditor the audit risk assessment, the audit strategy and audit planning, and the audit results. The Chairwoman of the audit committee, Dr. Haase, regularly discussed the progress of the audit with the auditor and reported to the committee on this. The finance and audit committee consults with the external auditors on a regular basis also without the Executive Board.

Disclosure of the Joint Statement on Corporate Governance and Corporate Governance Report

The Executive Board published the combined statement on corporate governance on March 14, 2025 at https://www.fraport.com/en/investors/corporate-governance.html.

Share and Investor Relations

Share Performance 2024

Although there was a positive development overall in the 2024 trading year, on closer inspection there was a mixed picture with strong growth momentum in the USA, continued weak Chinese economic output, and declining economic momentum in Europe over the course of the year. The focus was once again on global inflation developments, as well as key interest rate decisions and ongoing geopolitical crises, including the Russian war of aggression against Ukraine and the war between Israel and the Islamist militias Hamas and Hezbollah. The fall of the Assad regime in Syria and uncertainty regarding the political future in France and Germany also led to uncertainty on the stock markets.

In this tense environment, the German leading share index DAX rose by 18.9%, thus continuing its growth trend from the previous year. For the first time in its history, the DAX exceeded the 20,000 points mark and reached a record high of 20,522 points in December 2024. It closed the year slightly below this mark at 19,909 points. The index for medium-sized stocks MDAX, on the other hand, fell by –5.7% over the year and ended 2024 at 25,589 points.

The Fraport share continued its recovery in 2024 compared to its pre-coronavirus level. It achieved growth of 6.8%, with a yearend closing price of €58.50. The Fraport share had a weak start to the year with restrictions imposed on traffic in Frankfurt due to strikes and weather conditions. The months of February and March were particularly affected, which resulted in a decline of 10.8% over the quarter compared to the beginning of the year. While key interest rate expectations and an upturn in the operational performance in Frankfurt boosted the share price in May, these expectations were disappointed in June, partly as a result of the weakening momentum of the recovery in traffic. Overall, the second quarter saw a 6.2% decline in the share price. After the share continued to develop weakly over the remainder of the summer, it achieved growth of 9.5% in September, driven by the development of global equity markets – due in part to key interest rate expectations. The third quarter thus closed with a slight increase of 2.4% compared to the closing price of the second quarter. The announcement of the signing of a multi-year framework wage agreement for Frankfurt Airport led to a strong share performance at the end of the year. As a result, the Fraport share reached its highest price of the year of €58.90 on December 27, 2024, and ended the trading year at a price of €58.50. The fourth quarter thus saw a substantial increase of 16.9%.

The market capitalization of Fraport shares, including strategic shareholders not included in the free float, amounted to around €5.4 billion at the end of the year (previous year: €5.1 billion). Based on market capitalization, the share was the 17th largest stock among the 50 MDAX shares. After deducting the strategic shareholdings of the State of Hesse, the City of Frankfurt, Deutsche Lufthansa, and the treasury shares, the index-relevant market capitalization amounted to almost €2.1 billion (previous year: €2.0 billion). With an average of 148,432 shares traded daily, the trading volume in 2024 was on a par with the previous year's volume of 149,982.

Fraport share

	2024	2023	2022	2021	2020	2019	2018	2017

Opening price in €	54.76	38.05	59.18	49.36	75.78	62.46	91.86	56.17
Closing price in €	58.50	54.76	38.05	59.18	49.36	75.78	62.46	91.86
Change in €	+3.74	+16.71	–21.13	+9.82	–26.42	+13.32	–29.40	+35.69
Change in %	+6.8	+43.9	–35.7	+19.9	–34.9	+21.3	–32.0	+63.5
Highest price in € (daily closing price)	58.90	56.80	67.62	68.30	75.50	78.68	96.94	91.86
Lowest price in € (daily closing price)	44.02	38.05	36.20	43.12	30.01	61.44	61.56	55.26
Average price in € (daily closing prices)	49.77	49.10	48.08	55.58	44.52	73.20	79.18	74.12
Average trading volume per day (number)	148,432	149,680	202,994	256,728	398,143	128,953	160,367	173,015
Market capitalization in € million (year-end closing price)	5,409	5,064	3,518	5,472	4,564	7,007	5,776	8,494

The shares of other listed European airports performed as follows in 2024: AENA +20.1%, Aéroports de Paris –5.7%, Vienna Airport +5.8%, and Zurich Airport +23.9%.

Fraport Annual Report 2024 To Our Shareholders / Joint Statement on Corporate Governance 27 To Our Shareholders Combined Management Report Consolidated Financials Statements Group Notes Further Information

2024 development of the Fraport share compared to the market and European competitors

Source: Nasdaq

Last 10 years development of the Fraport share compared to DAX and MDAX

in % (index base 100)

Source: Nasdaq

28 To Our Shareholders / Joint Statement on Corporate Governance Fraport Annual Report 2024 To Our Shareholders Combined Management Report Consolidated Financials Statements Group Notes Further Information

Development in Shareholder Structure

Fraport was notified of the following changes in shareholder structure in the past fiscal year:

Notification of voting rights pursuant to Sections 33 and 34 of the German Securities Trading Act (WpHG)

Holders of voting rights	Date of change	Type of change	New share of voting rights
First Maven Pty Ltd.	March 26, 2024	Extension of voting rights	5.06 %
Lazard Asset Management LLC	November 5, 2024	Exceeded the 3% threshold	3.07 %
ClearBridge Investments Limited	December 20, 2024	Exceeded the 3% threshold	3.02 %

Shareholder structure as at December 31, 20241)

1) The relative ownership interests were adjusted to the current total number of shares as at December 31, 2024 and therefore may differ from the figures given at the time of reporting or from the respective shareholders' own disclosure. Shares below 3% are classified under "free float."

The majority of the approximately 92.5 million shares were held by German regional and local authorities (52.23%). With a share of 31.31%, the State of Hesse was the largest shareholder in the company, while the City of Frankfurt/Main held 20.92% of the shares. The voting rights owned by the City of Frankfurt are held indirectly via the Stadtwerke Frankfurt am Main Holding GmbH subsidiary. Deutsche Lufthansa AG held a share of 8.44%, or over 7.8 million no-par-value shares, making it the third largest individual shareholder of Fraport AG. Other shareholders that exceeded the statutory threshold of 3% of the outstanding Fraport shares as at the reporting date of December 31, 2024, were First Maven Pty (5.06%), ATLAS Infrastructure Partners (UK) Ltd., Lazard Asset Management LLC, and ClearBridge Investments Limited, whose respective portfolios are managed in Australia.

Deutsche Lufthansa AG, and treasury shares. Shares held via several subsidiaries were combined.

Fraport Annual Report 2024 To Our Shareholders / Joint Statement on Corporate Governance 29

To the extent known, the Fraport shares in free float were spread across the following countries: To the extent known, the Fraport shares in free float were spread across the following countries:

Source: Bloomberg, January 2025 Dividend for the 2024 Fiscal Year (Recommendation for the Appropriation of 1) Free float = total number of shares as at December 31, 2024 excluding shares held by the State of Hesse, Stadtwerke Frankfurt am Main Holding GmbH, Deutsche Lufthansa AG, and treasury shares. Shares held via several subsidiaries were combined. Source: Bloomberg, January 2025 1) Free float = total number of shares as at December 31, 2024 excluding shares held by the State of Hesse, Stadtwerke Frankfurt am Main Holding GmbH,

1) Free float = total number of shares as at December 31, 2024 excluding shares held by the State of Hesse, Stadtwerke Frankfurt am Main Holding GmbH,

Profit) In the context of the economic impact of the coronavirus pandemic, including in particular the increase in the net financial debt of Dividend for the 2024 Fiscal Year (Recommendation for the Appropriation of Profit) Source: Bloomberg, January 2025 Dividend for the 2024 Fiscal Year (Recommendation for the Appropriation of

the Fraport Group, as was the case during previous years, the Executive Board and the Supervisory Board plan not to propose a dividend payment at the 2025 Annual General Meeting in favor of allocation of the profit earmarked for distribution for the 2024 fiscal year to revenue reserves. In the medium term, the Executive Board aims to restart dividend payments. Before the start of the coronavirus pandemic, the In the context of the economic impact of the coronavirus pandemic, including in particular the increase in the net financial debt of the Fraport Group, as was the case during previous years, the Executive Board and the Supervisory Board plan not to propose a dividend payment at the 2025 Annual General Meeting in favor of allocation of the profit earmarked for distribution for the 2024 fiscal year to revenue reserves. Profit) In the context of the economic impact of the coronavirus pandemic, including in particular the increase in the net financial debt of the Fraport Group, as was the case during previous years, the Executive Board and the Supervisory Board plan not to propose a

dividend policy provided for a distribution of approximately 40% to 60% of the profit attributable to shareholders of Fraport AG. In addition, a second principle of the Executive Board regarding the dividend per share was to keep the dividend at least stable compared to the previous year. Investor Relations (IR) In the medium term, the Executive Board aims to restart dividend payments. Before the start of the coronavirus pandemic, the dividend policy provided for a distribution of approximately 40% to 60% of the profit attributable to shareholders of Fraport AG. In addition, a second principle of the Executive Board regarding the dividend per share was to keep the dividend at least stable compared to the previous year. dividend payment at the 2025 Annual General Meeting in favor of allocation of the profit earmarked for distribution for the 2024 fiscal year to revenue reserves. In the medium term, the Executive Board aims to restart dividend payments. Before the start of the coronavirus pandemic, the

dividend policy provided for a distribution of approximately 40% to 60% of the profit attributable to shareholders of Fraport AG. In

team maintains face-to-face, telephone, and virtual contact with existing and potential investors as part of roadshows, capital

The central themes of the meetings in 2024 were passenger development and forecasts at the Group airports and the progress in construction of the substantial capital expenditure in Frankfurt, Lima, and Antalya. In this context, the medium-term development

Consistent, timely, and transparent communication with investors and analysts is a top priority for IR work at Fraport AG. The IR Investor Relations (IR) addition, a second principle of the Executive Board regarding the dividend per share was to keep the dividend at least stable

team maintains face-to-face, telephone, and virtual contact with existing and potential investors as part of roadshows, capital market conferences, or regular meetings, including at the company headquarters at Frankfurt Airport. Over the past fiscal year, targeted individual and Group meetings again took place as well as presentations with the company's Chief Executive Officer, Chief Financial Officer, and Chief Infrastructure Officer. The central themes of the meetings in 2024 were passenger development and forecasts at the Group airports and the progress Consistent, timely, and transparent communication with investors and analysts is a top priority for IR work at Fraport AG. The IR team maintains face-to-face, telephone, and virtual contact with existing and potential investors as part of roadshows, capital market conferences, or regular meetings, including at the company headquarters at Frankfurt Airport. Over the past fiscal year, targeted individual and Group meetings again took place as well as presentations with the company's Chief Executive Officer, Chief Financial Officer, and Chief Infrastructure Officer. compared to the previous year. Investor Relations (IR) Consistent, timely, and transparent communication with investors and analysts is a top priority for IR work at Fraport AG. The IR

in construction of the substantial capital expenditure in Frankfurt, Lima, and Antalya. In this context, the medium-term development of free cash flow and the future use of capital generated were also returning points of discussion. Focus was also put on the strategy of the international business as well as possible expansions or reductions in the portfolio. The central themes of the meetings in 2024 were passenger development and forecasts at the Group airports and the progress in construction of the substantial capital expenditure in Frankfurt, Lima, and Antalya. In this context, the medium-term development of free cash flow and the future use of capital generated were also returning points of discussion. Focus was also put on the strategy of the international business as well as possible expansions or reductions in the portfolio. market conferences, or regular meetings, including at the company headquarters at Frankfurt Airport. Over the past fiscal year, targeted individual and Group meetings again took place as well as presentations with the company's Chief Executive Officer, Chief Financial Officer, and Chief Infrastructure Officer.

strategy of the international business as well as possible expansions or reductions in the portfolio.

Throughout the year, the IR team was available by phone (+49 69 690-74840) or by email ([email protected]) for direct dialog. The telephone conferences for analysts on the financial publications, the AGM in May 2024, and the provision of up-todate information on the IR website at www.meet-ir.com rounded off the range of IR services in the past fiscal year.

Data relevant to the capital market

		2024	2023

Share capital Fraport AG1)	€ million	924.7	924.7
Total number of shares as at December 31	Number	92,468,704	92,468,704
Number of floating shares as at December 312)	Number	92,391,339	92,391,339
Number of floating shares (weighted annual average)	Number	92,391,339	92,391,339
Absolute share of capital stock	per share, in €	10.00	10.00
Annual performance (including dividend)	in %	+6.8	43.9
Beta relative to the MDAX		0.96	1.10
Earnings per share (basic)	in €	4.88	4.26
Earnings per share (diluted)	in €	4.88	4.26
Price-earnings ratio		12.0	12.9
Dividend per share3)	in €	0.00	0.00
Profit earmarked for distribution	€ million	0.00	0.00
Dividend yield as at December 313)	in %	–	–

ISIN	DE 000 577 330 3
Security identification number (WKN)	577 330
Reuters ticker code	FRAG.DE
Bloomberg ticker code	FRA GR
Selected indexes	MDAX, FTSE4Good Index, Deutschland Ethik 30 Aktienindex

1) Including treasury shares.

2) Total number of shares as at the balance sheet date, less treasury shares.

3) In relation to the proposed dividend (2024).

Combined Management Report for the 2024 Fiscal Year

40 Situation of the Group
58 Economic Report
79 Combined non-financial Statement
159 Supplementary Management Report on the Separate Financial Statements of Fraport AG
162 Events after the Balance Sheet Date
162 Risk and Opportunities Report
177 Outlook Report

GROWTH & SUSTAINABILITY

In 2030, we will be the company with the world's best expertise in operating climate-friendly airports. Our financial situation will be successful, resilient, and stable, and we will achieve profitable growth. Additionally, we will have successfully expanded our international business. Sustainability will be a central component of our actions, and we will be recognized as a valued part of the respective region.

Situation of the Group

Business Model

The Fraport Group (hereinafter also referred to as: Fraport) is one of the world's leading companies in the airport business in terms of the number of passengers carried and metric tons of cargo handled. The main site of the Group is Frankfurt Airport, one of the most important passenger and cargo airports in the world, in respect of which the parent company of the Group, Fraport AG Frankfurt Airport Services Worldwide (abbreviated: Fraport AG), has an operating permit with no time limit.

Beyond the Frankfurt site, the Group operates on four continents, mainly on the basis of concession agreements at international airports. The main sites include 14 airports in Greece, Lima Airport in Peru, and two airports in Brazil (Porto Alegre and Fortaleza) as well as Antalya Airport in Türkiye (see also the "Key Sites" chapter).

As an airport operator, Fraport provides a wide range of operational and administrative services for airport and terminal operations. Within the framework of the concession agreements, the scope of the services offered varies from contractually binding construction and expansion activities, administration and control of airport processes, to the management of retail areas. The concession models also differ in terms of their term and the structure of the concession fees to be paid. The range of tasks of the Fraport Group also includes planning and consulting services as well as IT services and facility management. Fraport attaches great importance to ensuring that customers are the focus of all its company services. This applies both at the home site in Frankfurt and at the international Group sites. Fraport considers itself to be a learning organization that uses its know-how in a targeted and profitable way worldwide.

The Group generates the majority of its revenue and earnings from the passenger and freight business at each of its sites. Apart from passengers, its main customers include airlines, tenants of office and retail space, authorities and freight forwarders. Fraport primarily levies charges for the use of the airport infrastructure, generates income from the development of commercial areas, and offers additional operational services. Fraport reports the main revenue streams resulting from this as "airport charges," "infrastructure charges," "ground services and security services," "retail," "real estate," and "parking." In the area of airport concessions, revenue and expenses of the same amount from "construction and expansion services in connection with IFRIC 12" are also reported in the consolidated income statement. In its reporting, Fraport distinguishes between the following four segments:

Aviation holistic management of the terminal facilities and airport processes at Frankfurt Airport.
Retail & Real Estate development and renting of space at the airport and of space mainly near the airport in Frankfurt. This primarily includes the retail business, building and space leasing as well as parking management.
Ground Handling ground services such as loading, baggage, and passenger services, as well as the operation of the central infrastructure and baggage transfer system at Frankfurt Airport.
International Activities & Services international marketing of the Group's expertise and airport operations as well as bundling central services in Frankfurt.

The Fraport business model creates value by participating in the international demand for air travel and flows of goods. Fraport is pursuing a clear growth strategy that also takes into consideration environmental and social aspects (see also the "Strategy" chapter). In addition to the broad portfolio of airport investments, which focuses on both business travel demand and tourism offerings, the employees form the basis of the company's success. Together with its partners, Fraport is consistently developing the Group sites and achieving a broad revenue and earnings base.

External Influences

The main external factors influencing the business model of Fraport include disruptive events, such as extreme weather conditions, natural disasters, or pandemics, in addition to economic, (socio-)political, and regulatory factors. The influencing factors can both positively and negatively affect passenger and freight demand as well as the range of aircraft movements and passenger capacity at Group airports. At the same time, they can influence the purchasing behavior of passengers and thus the economic situation of the Fraport Group as a whole (see also the "Risk and Opportunities Report" chapter).

Economic growth and globalization generally favor the demand for air travel and freight transport. At the same time, economic prosperity and a globally growing middle class tend to lead to a higher number of air journeys. High inflation rates potentially reduce disposable income and can have a negative impact on business development. Exchange rates also affect the appeal of tourist destinations, travel and freight flows, and passengers' booking behavior as well as their buying behavior in the retail area. Exchange rates also play an important role in the financial contribution of individual foreign Group companies, whose functional currencies are converted into the currency of the Group, the euro.

Price fluctuations on commodity markets, especially for crude oil and therefore jet fuel, also have an influence on air traffic and can have both a positive and negative impact on air traffic demand.

Politics affect air traffic at a national and international level. Operating restrictions, such as night flight bans and noise protection measures, as well as travel restrictions and taxes, can have a negative impact on airline offerings. This may also affect passenger and cargo volume at the affected sites and may contribute to the development of other airports. Environmental policy in particular can affect air traffic. A further political influencing factor is the possible liberalization of air traffic rights. This may result in the opening of new markets for air traffic or the expansion of already existing markets. By contrast, sanctions or tightly specified air traffic agreements lead to the closure of markets.

Geopolitical crises are leading to increasing global political and economic instability. They can influence air traffic development in many ways.

Fraport monitors various early warning indicators to identify trends in travel or freight flows at an early stage, and to derive appropriate countermeasures if necessary.

Structure

Changes Compared with the Previous Year

With effect from January 1, 2024, Fraport has converted the "Human Resources" central unit and the "HR Top Executives" unit into a new organization, which now comprises the two central units "HR Operations" and "HR People & Culture." With effect from March 1, 2024, the "Central Purchasing, Construction Contracts" central unit was renamed "Procurement, Claim and Mobility."

In December 2024, the Supervisory Board of Fraport AG decided to re-appoint Julia Kranenberg as Labor Relations Director. This will extend her contract as a member of the Executive Board until October 31, 2030.

Beyond that, there were no substantial events affecting the legal and organizational Group structure in the 2024 fiscal year.

Legal Structure of the Group

As the parent company of the Fraport Group, Fraport AG directly or indirectly holds the shares in the other Group companies and has its registered office in Frankfurt/Main, Federal Republic of Germany. As at December 31, 2024 there were 53 consolidated companies excluding companies accounted for using the equity method, and 75 companies including companies accounted for using the equity method (in the previous year: 56 and 78 companies, respectively). For a detailed overview of the shareholdings within the Group, please see Group notes, note 57.

Organizational Structure of the Group

As a management body, the Executive Board bears the strategic and operational responsibility for the Group. At the time of preparing the consolidated financial statements, the Executive Board consisted of the five members Dr. Stefan Schulte (Chair), Anke Giesen (Member of the Executive Board and Executive Director Retail & Real Estate), Julia Kranenberg (Member of the Executive Board and Executive Director Ground Handling and Labor Relations Director), Dr. Pierre Dominique Prümm (Member of the Executive Board and Executive Director Aviation and Infrastructure), and Prof. Matthias Zieschang (Member of the Executive Board and Executive Director Controlling and Finance).

For the purpose of managing the Group, the Executive Board has divided the business activities into four segments: "Aviation", "Retail & Real Estate", "Ground Handling", which are largely active at the Frankfurt site, as well as "International Activities & Services", which primarily includes the Group companies outside of Frankfurt. The segments encompass the strategic business units and service units of Fraport AG and include the Group companies involved in each of these business processes. The central units of Fraport AG in Frankfurt are responsible for Group-wide administrative services, among other things.

The Aviation segment mainly operates the land and airside infrastructure at the Frankfurt site. It therefore includes both the area of airport charges, which is legally regulated in Germany, and relevant security services. The regulated airport charges consist of passenger, landing, and takeoff fees, security fees, and parking fees. The Aviation segment is responsible for ensuring safe, efficient, and customer-oriented processes in the flight operating areas and terminals as well as the

implementation of airport and air safety tasks in compliance with legal requirements.

The Retail & Real Estate segment is responsible in particular for the commercial development of the Frankfurt site, including the retail activities as well as real estate and land. Its activities extend from the management of buildings and facilities through to the management and development of the parking and retail areas and the renting of advertising

space. In addition to the brick-and-mortar businesses at Frankfurt Airport, the focus is, among other things, on greater use of online retail offers and sales channels.

The Ground Handling segment consists of loading, baggage, and passenger services, airmail and luggage transport, and freight handling at Frankfurt Airport. The segment is primarily responsible for the quality of Frankfurt Airport's role as a hub, characterized by transfer processes. The provision of the central infrastructure, in particular the baggage transfer system, is also allocated to this segment.

The International Activities & Services segment includes in particular the acquisition, operation, development, and expansion of airports abroad. Consulting services, including in the "Operational Readiness and Airport Transfer" (ORAT) section, are additionally provided. The segment also includes Fraport AG service units that provide central services for

the Fraport Group.

As at December 31, 2024, the organizational structure of the Fraport Group was as follows:

	Dr. Stefan Schulte	Anke Giesen	Julia Kranenberg	Dr. Pierre Dominique Prümm	Prof. Dr. Matthias Zieschang
Segments	International Activities & Services	Retail & Real Estate Ground Handling Aviation
Strategic Business Units & Service Units	· Global Invest- ments and Management • Airport Expansion South	Retail and Properties · Information and Telecommunica- tion	· Ground Services Aviation · Corporate Infrastructure Manaqement		· Integrated Facility Management
Central Units	Corporate Development, Environment and Sustainability · Corporate Communications	· Internal Auditing Legal Affairs and Compliance	HR Operations HR People & Culture		· Finance and Investor Relations · Investment and Project Controlling · Cost and Profitability Management · Accounting · Procurement, Claim and Mobility
companies	Significant Group • Fraport Slovenija · Fortaleza & Porto Alegre · Lima · Fraport Greece · Twin Star • Antalya	Media Frankfurt · Fraport Immobilienservices · FraCareServices	· Fraport Ground Services	· FraSec Flughafensicherheit · FraSec Services	· Fraport Facility Services

A detailed description of the structure and operation of the management and control body is presented in the "Combined Statement on Corporate Governance." The annually updated "Combined Statement on Corporate Governance" does not form part of the audit by the auditor.

Key Sites

Significant Fraport Group airports

Site	Airport	Company	Share in %	Term		Ownership

Germany	Frankfurt	Fraport AG Frankfurt Airport Services Worldwide	100		1924 no time limits	–
Slovenia	Ljubljana	Fraport Slovenija, d.o.o.	100		2014 no time limits	–

						Concession charge
	Fortaleza	Fraport Brasil S.A. Aeroporto de Fortaleza	100	2017	2047	Fixed minimum + revenue
Brazil	Porto Alegre	Fraport Brasil S.A. Aeroporto de Porto Alegre	100	2017	2042	component
	Lima					Fixed minimum+ revenue
Peru		Lima Airport Partners S.R.L.	80.01	2001	20511)	component
		Fraport Regional Airports of Greece A S.A.	65	2017	2057
Greece	14 Airports	Fraport Regional Airports of Greece B S.A.	65	2017	2057	Fixed minimum + EBITDA
		(below collectively referred to as Fraport Greece2))				component
	Varna		60	2006	2046	Fixed minimum + revenue
Bulgaria	Burgas	Fraport Twin Star Airport Management AD	60	2006	2046	component
Türkiye		Fraport TAV Antalya Terminal İşletmeciliği A.Ş.
	Antalya (FTA I)	(hereinafter: Group company Antalya I)	50/513)	1999	2026	Fixed amount
		Fraport TAV Antalya Yatirim, Yapim ve İşletme A.Ş
	Antalya (FTA II)	(hereinafter: Group company Antalya II)	50/514)	2027	2051	Fixed amount

1) Including extension option.

2) The Group companies Fraport Regional Airports of Greece A, Fraport Regional Airports of Greece B, and Fraport Regional Airports of Greece

Management Company are collectively referred to as "Fraport Greece."

3) Dividend share: 50%, capital share: 51%.

4) From 2027, dividend share: 50%, capital share: 49%.

In addition to the aforementioned airports, Fraport operates retail areas at different airports in the USA through its Group company Fraport USA.

Competitive Position at the Frankfurt Site

Frankfurt Airport competes with other airports both nationally and internationally. Regionally, there is competition for passengers and air freight with airports in the original catchment area. Internationally, Frankfurt Airport competes for domestic and international transfer passengers and transshipment freight on the basis of its function as an international transfer airport. The Lufthansa Group remains the most important customer at the Frankfurt site in the 2024 fiscal year, accounting for 67% of the total seat capacity. The largest competitors for transfer passengers are primarily the hub airports London Heathrow, Paris Charles de Gaulle, Amsterdam Schiphol, Istanbul, and Munich, which are in particular influenced by the global route networks of their resident main customers British Airways, Air France-KLM, Turkish Airlines, and Lufthansa Group. Due to the dynamic development of many airlines and airports from the Middle East, the Frankfurt site is also in intercontinental competition with these airports.

In particular, the expansion and modernization programs contribute to maintaining and improving the international competitive position. Terminal 3 ("Expansion South") should ensure the long-term landside capacities required to give the site a successful future-oriented competitive edge. Numerous technical installations are running inside the terminal. Piers G and H of Terminal 3 have been completed except for the installations that are required for the start of operations. The parking garage is already available for use and has a capacity of more than 2,000 parking spaces. The main terminal building and Pier J are in the final stages of completion. The opening of the new terminal is planned for after the 2026 Easter holidays.

The ranking of the top 10 airports in Europe, which changed during the coronavirus crisis, is returning to the pre-crisis structure (ranking according to ACI Europe; as at: February 2025). With 61.6 million passengers, Frankfurt Airport ranked sixth among the leading airports in terms of passengers in the reporting year. In Germany, Frankfurt Airport was the largest passenger airport, ahead of Munich with 41.6 million passengers in the same period. Based on its air freight turnover of approximately 2.0 million metric tons, Frankfurt has remained Europe's leading airport in the same period, ahead of Istanbul and Paris Charles de Gaulle.

Competitive position in Europe

Rank 1)	2024	2023	2019	Airport	Passengers	delta %	Rank 1)	2024	2023	2019	Airport	Air freight	delta %

	1.	1.	1.	LHR - London	83,884,800	5.9		1.	1.	1.	FRA - Frankfurt	1,991,046	6.5
	2.	2.	7.	IST - Istanbul	80,025,132	5.4		2.	3.	9.	IST - Istanbul	1,917,753	26.5
	3.	3.	2.	CDG - Paris	70,290,260	4.3		3.	2.	2.	CDG - Paris	1,877,590	3.5
	4.	4.	3.	AMS - Amsterdam	66,827,125	8.0		4.	4.	3.	LHR - London	1,536,387	10.8
	5.	5.	5.	MAD - Madrid	66,148,340	9.9		5.	5.	4.	AMS - Amsterdam	1,491,537	8.2
	6.	6.	4.	FRA - Frankfurt	61,561,247	3.7		6.	7.	6.	MAD - Madrid	766,819	19.2
	7.	7.	6.	BCN - Barcelona	54,999,661	10.3		7.	6.	7.	MXP - Mailand	726,571	9.2
	8.	9.	11.	FCO - Rom	48,879,038	20.7		8.	8.	8.	BRU - Brüssel	609,095	5.1
	9.	12.	8.	SVO - Moskau	43,711,762	19.5		9.	9.	11.	MUC - München	307,636	11.0
	10.	8.	10.	LGW - London	43,256,722	5.8		10.	10.	10.	ZRH - Zürich	304,043	13.4

1) Ranking by ACI Europe (February 2025).

Competitive Position Outside the Frankfurt Site

The competitive positions of the major airports in the Fraport Group are shown below.

As the airport of the country's capital, the development of the Group airport in Ljubljana is closely linked to the economic and tourist situation in Slovenia. Competition comes in particular from nearby airports such as Zagreb and Venice. The site is aiming to strengthen its competitive position through continuous capital expenditure in infrastructure and service quality. Most recently, connectivity has been improved by increasing flights to major hubs and resuming flight connections. During the summer months in particular, an increased number of charter flights to holiday destinations around the Mediterranean Sea boosted the appeal of the site.

Passenger numbers at the two Brazilian airports Porto Alegre and Fortaleza are strongly influenced by domestic traffic. The Brazilian aviation market is dominated by the three airlines LATAM Brasil, GOL, and Azul. These airlines also offer numerous connections in Porto Alegre and Fortaleza. The Group airport Porto Alegre benefits from the economically strong Rio Grande do Sul region. In May 2024, however, the airport was considerably affected by severe flooding in the state, which led to a suspension of flight operations for around six months. After reopening with limited operations in October, Porto Alegre Airport resumed full operations in December 2024. Fortaleza Airport is highly tourist-oriented and is conveniently located for flight connections to Europe and North America. Traffic was most recently affected by the airline GOL's reduction in frequencies at Fortaleza Airport and its discontinuation of certain connections as a result of its Chapter 11 insolvency proceedings.

The Jorge Chávez Airport in Lima is Peru's leading airport, and one of the largest airports in South America. The site profits from its geographical position, which makes the airport an attractive transfer point for traffic between South and North America. LATAM Airlines Group has the largest share of aircraft movements and passengers at Lima Airport. The largest low-cost airlines at the site, SKY Airline and Jetsmart, continue to pursue a growth strategy and contribute to traffic growth. The expansion program at the airport includes the construction of a new passenger terminal and the now completed second runway, including aprons and taxiways, as well as other peripheral infrastructure. This will ensure that sufficient capacity is available for further growth in the South American aviation market in the future. The inauguration of the new passenger terminal is scheduled for the end of March 2025.

The traffic and business developments at the strongly tourist-oriented Greek sites, at Varna and Burgas, as well as in Antalya are substantially affected by charter traffic of tourist carriers. There is generally no substantial concentration of individual airlines. In addition to the economic development in each respective country where the traffic originates, the sites depend particularly on the appeal of the respective regions with regard to safety, quality, price level, and entry requirements.

Fraport Greece operates 14 Greek regional airports. These are the airports in Kerkyra (Corfu), Chania (Crete), Kefalonia, Kavala, Aktio, Thessaloniki, Zakynthos, Mykonos, Skiathos, Santorini (Thira), Kos, Mytilini (Lesbos), Rhodes, and Samos. Greece's appeal as a tourism destination and the associated potential for a further increase in demand is expected to grow in the coming years. The positive trend in the traffic figures of previous years continued in 2024.

The Black Sea airports in Burgas and Varna are the second- and third-largest passenger airports, respectively, in Bulgaria after Sofia. In addition to charter services, low-cost transport promises further growth potential. In Varna, Wizz Air provided the largest share of passengers by far, at around 27%. In 2024, the airline temporarily stationed two aircraft in Varna, but reduced this to one aircraft during the year. At the airport in Burgas, meanwhile, Ryanair and Smartwings were on an equal footing, each accounting for 13%. The modular expansion of the terminals at both sites offer sufficient capacity to be able to meet the regional growth expected in the medium term.

Antalya is the third-largest passenger airport in Türkiye behind Istanbul Airport and Istanbul Sabiha Gökçen Airport, and is still one of the most important tourist airports in the Mediterranean Sea region. The demand for holiday travel, which is important for the further development of traffic, is continuously high. It is primarily determined by the political and economic developments in the countries of origin of the main passenger groups as well as Türkiye. At the end of 2021, a consortium made up of Fraport and its Turkish partner TAV was awarded the contract for the new operating concession at Antalya Airport. The operational period of the new concession will start at the beginning of 2027 after the current concession expires, and will run until the end of 2051. As part of the new concession, necessary expansion measures at the terminals and other areas at the airport have been in progress as of the first quarter of 2022. The inauguration of the major infrastructure expansions is expected to take place at the beginning of the second quarter of 2025. The expansion of capacity should ensure that Antalya Airport remains highly competitive in the segment of tourist airports in the Mediterranean region in the long term.

Additional information about business development in the past fiscal year can be found in the "Economic Report" chapter.

Strategy

Long-Term Market Development Remains Positive Despite Short-Term Volatility

Despite geopolitical crises and regulatory challenges, the Executive Board expects to see stable growth in the global aviation market in the long term. Continued projected global economic growth and stable world trade will have a positive impact on the development. The world's growing population, combined with the expanding middle class, which tends to consume more, are the main factors driving tourism demand. Disproportionate growth is still expected from and in the economic emerging markets. Fraport aligns its strategy to the forecasted development of the global aviation market and its trends.

Airbus	2023 - 2043	Passenger kilometers sold	+4.5%
Boeing	2023 - 2043	Passenger kilometers sold	+4.7%
Embraer	2023 - 2043	Passenger kilometers sold	+40%
ACI	2023 - 2043	Number of passengers	+4.3%

Changes Compared with the Previous Year

In light of rapidly changing social, economic, technological, and political conditions, the Executive Board adapted and further developed the previous strategy in 2024. The main changes are reflected in the transformation of the five strategic dimensions of "Growth in Frankfurt and internationally," "Service-oriented airport operator," "Economically successful through optimal cooperation," "Learning organization & digitalization," and "Fairness and recognition for partners and neighbors" into three strategic "top priorities". These top priorities are "growth and sustainability", "efficiency and innovation", and "top employer". This demonstrates a stronger focus and is intended to support the achievement of the overarching goals of "fascinating customers" and enabling an "increasing EBITDA and free cash flow".

The control parameters of the previous strategic dimensions were partially retained or developed further and integrated into the new strategy. In the area of sustainability, the previous greenhouse gas reduction targets (GHG) have been expanded to include further greenhouse gases and incorporated into the Net-Zero 2045 climate agenda. As the technological transformation continues at an accelerating pace, opportunities arise in relation to the use of artificial intelligence and thus the improvement of digital processes. These topics are bundled in the "efficiency and innovation" priority. A great deal of importance is already placed on employee development and participation, and this has been enhanced further by the creation of the new "top employer" priority.

Overall, Fraport.2030 aims to establish a more international focus for the Fraport Group. Compared to the previous strategic focus, the new strategy aims to link the top priorities even more closely with the objectives of Fraport.2030. This will be achieved through the central lever "working together," which aims to strengthen cross-team collaboration in a transparent environment and promote knowledge sharing. The organization will also be designed to work efficiently in order to optimize cross-divisional and cross-border collaboration and increase customer satisfaction. Overall, Fraport.2030 is designed to enable both short-term efficiency gains and sustainable medium- to long-term Group growth and Group resilience.

Strategic Priorities

In the 2024 fiscal year, the Executive Board presented the new Group strategy Fraport.2030. The aim of this strategy is to secure the Group's future in the long term and achieve profitable business growth. As well as being important for the long-term development of the company, the strategy also addresses customer expectations. Inspiring customers is seen as an overarching goal, and this aim is reflected in the three strategic priorities: growth and sustainability, efficiency and innovation, and top employer. Cultural development also plays an important role in achieving strategic objectives and will support the achievement of the strategic, financial objectives of increasing EBITDA and free cash flow.

A description as well as target values and time horizons for the most important financial and strategic non-financial key figures can be found in the "Control System" chapter, and the development of the key figures during the past fiscal year can be found in the "Economic Report" chapter. The forecast values for the key financial performance indicators for the 2025 fiscal year are included in the "Outlook Report" chapter. Substantial risks and opportunities can be found in the "Risk and Opportunities Report" chapter.

Growth and Sustainability

Fraport.2030 is aligning the Group so that it is well positioned to sustainably participate in the growth in air traffic expected globally – both at the Frankfurt site and internationally. In line with this objective, Fraport is pursuing its climate agenda with the goal of achieving "net zero" by 2045. By making this a top priority, Fraport sees itself as a trusting partner in dialog with its stakeholders. This includes social and community engagement in the regions in which Fraport operates.

On this basis, it is expected that traffic volume at the Frankfurt site will follow the general market trend and sustainable EBITDA growth will be achieved in the segments. The international business is also expected to continue to grow and make a positive contribution to the Group EBITDA and result.

At the Frankfurt site, the construction of Terminal 3 will secure the infrastructure required for growth in the long term. Construction is progressing according to plan, and the new terminal is scheduled to open after the 2026 Easter holidays. The resulting additional capacity of around 20 million passengers will make it possible to gradually modernize older terminal infrastructure. In particular, Terminal 2 will be temporarily closed and modernized.

The purpose of the CargoHub master plan is to put in place the conditions that will strengthen Frankfurt Airport's role as a leading freight hub in Europe. Infrastructural expansion areas at Frankfurt Airport, the e-commerce segment, and the expected overall economic upswing are expected to contribute to growth in freight in the coming years.

Fraport is continuing the necessary expansion measures at international sites. In Peru, the expansion measures have largely been finalized, with the opening and inauguration of the new terminal set to take place at the end of March 2025. Compared to the 24.5 million passengers carried in 2024, the airport's capacity will be increasing to around 40 million passengers. At the Antalya site, the terminal expansion is approaching completion. The terminal at Varna Airport in Bulgaria is also to be expanded in the next few years.

In addition, Fraport feels responsible for meeting ecological requirements. In the field of climate protection, Fraport is pursuing the goal of reducing Group-wide greenhouse gas emissions to a maximum of 95,000 metric tons by 2030. Fraport is aiming for a target of net zero by 2045. The "decarbonization master plan" for the Fraport Group was developed as a policy paper for decarbonization. It derives an overall concept for reducing greenhouse gas emissions from the scientific and legal framework conditions as well as the technical possibilities and provides a comprehensive view and structuring of the measures to reduce greenhouse gas emissions. Key components include packages of measures to increase energy efficiency, the conversion of the vehicle fleet to electric drives and the procurement of energy from renewable sources.

Fraport uses the passenger numbers at Frankfurt Airport as well as at the Group airports as an indicator for the Group-wide growth in traffic. Fraport controls Group-wide growth in the result by monitoring the financial performance indicators Group EBITDA and Group result, as well as free cash flow. In view of the dynamic economic environment, Fraport is also focusing on securing Group liquidity in the long term.

Efficiency and Innovation

As customer expectations evolve and technological change advances, the priority of "efficiency and innovation" is to ensure reliable and smooth processes. Digital offerings will also be expanded. The use of modern and increasingly autonomous technologies, such as the introduction of more self-drop-off baggage machines, will help to optimize quality and services for airlines and passengers.

As of 2023, Fraport has been responsible for the organization, management, and operation of aviation security services at Frankfurt Airport. The ongoing introduction of new computer tomography (CT) scanners is intended to reduce queues at security controls. Customer experience will improve as a result.

In addition to the passengers, business partners including airlines, retailers, and logistics specialists are of key importance to Fraport. Fraport aims to provide its partners Group-wide with a good commercial basis. Processes and interfaces are technologically supported and continuously improved. This simplifies and accelerates processes. At the Frankfurt site, for example, process stability and quality are to be increased further in order to continuously improve customer satisfaction.

The use of artificial intelligence (AI) will help map the expected passenger growth while enabling the provision of an efficient, innovative service. At the Group airport in Ljubljana, for example, AI software is already being used to optimize the handling process for passengers and airlines in order to manage punctuality and employment more efficiently.

Customer and service orientation will also be improved at the other Group airports. Understanding customer needs and obtaining feedback is essential for this. This is why customer surveys are regularly conducted in Frankfurt and at the Group airports. The global passenger satisfaction reflects the effectiveness of passenger-oriented processes and service offers.

Global passenger satisfaction is the main indicator used to manage efficiency and innovation.

Top Employer

The aim of the third strategic priority "top employer" is to position the Group as one of the best employers in the aviation industry. The foreseeable growth in air traffic and the associated handling of considerable passenger and freight volumes require successful positioning in a labor market facing increasing shortages. To that end, Fraport AG is fundamentally realigning its human resources activities as part of the HRneo program.

To strengthen its position as a top employer, Fraport has systematic development programs and talent management programs in place at all levels of its work. Attractive remuneration and incentive systems are intended to ensure long-term competitiveness in an increasingly scarce labor market.

Fraport respects and promotes personal diversity and attaches great importance to ensuring that this is reflected in the way employees interact with each other. The Group agreement "Conduct of Partnership, Diversity, and Equality in the Workplace" forms the platform for principles such as freedom from discrimination and equal opportunities. Fraport places particular emphasis on development measures aimed at increasing the proportion of women in management positions. The company focuses on the "employee satisfaction" indicator for its monitoring and management of the "top employer" priority.

Research and Development

Fraport does not conduct research and development in the narrowest sense. Nevertheless, the Group is eager to ensure necessary developments are made and to integrate market proven solutions in a timely manner. The focus therefore lies on continuously observing markets and technologies in order to identify and implement promising developments at an early stage.

Legal Disclosures

As a listed corporation headquartered in Germany, Fraport AG is subject to a number of statutory disclosure requirements. Important reporting obligations that apply to this combined management report as a result of these requirements are shown in the following.

Takeover-related disclosures

The capital stock of Fraport AG is €924,687,040. It is divided into 92,468,704 no-par-value bearer shares. The company holds treasury shares (77,365 shares), which are segregated from capital stock on the balance sheet. The issued capital stated in the commercial balance sheet as at December 31, 2024 and reduced by treasury shares is €923,913,390 (92,391,339 no-par-value shares). There are no differing classes of shares. Additional information regarding treasury shares in accordance with Section 160 (1) no. 2 of the AktG can be found in the Group notes, note 31, and the Notes of Fraport AG, note 27.

The shares of Fraport AG are not subject to any restrictions on voting rights under the company statutes or the law. None of the shares issued by Fraport AG certify any rights that confer special supervisory powers on the holders. In the event of a change of control following a takeover bid, there are no compensation agreements with members of the Executive Board or employees.

The appointment and dismissal of Executive Board members is carried out in compliance with the relevant provisions of the AktG (Sections 84 and 85). Pursuant to Section 179 (1) sentence 2 of the AktG in conjunction with Section 11 (3) of the company statutes, the Supervisory Board is entitled to amend the company statutes only with respect to the wording. Other amendments to the company statutes require a resolution of the AGM, which, according to Section 18 (1) of the company statutes, must be passed in general by a simple majority of the votes cast and, provided that a capital majority is required, by a simple majority of the capital stock represented at the time of the resolution. If, by way of exception, the law requires a higher capital majority (e.g., when amending the statutes of the company, Section 179 (2) sentence 1 of the AktG; or when creating contingent capital, Section 193 (1) sentence 1 of the AktG), the resolution of the Annual General Meeting has to be passed by a three-quarter majority of the represented capital stock.

The Executive Board is entitled, with the consent of the Supervisory Board, to increase the capital stock on one or more occasions by up to a total of €458,843,520.00 until May 31, 2026 by issuing up to 45,884,352 new no-par value bearer shares in return for cash ("Authorized Capital II"). In principle, the shareholders are to be granted a subscription right. The new shares may also be acquired by a credit institution to be determined by the Executive Board or a company (financial institution) acting in accordance with the first sentence of Section 53 (1) of the German Banking Act (KWG) or the first sentence of Section 53b (1) or Section 53b (7) of the KWG or a consortium of such credit or financial institutions with the obligation to offer them to the company's shareholders for subscription (indirect subscription right). The new shares will participate in the net income from the beginning of the fiscal year of their issue. To the extent legally permissible, the Executive Board, with the consent of the Supervisory Board and in deviation from Section 60 (2) of the AktG, can determine that the new shares will participate in net income from the beginning of a fiscal year that has already expired and for which no resolution has yet been passed by the Annual General Meeting on the appropriation of the profit earmarked for distribution at the time of their issue. The Executive Board is further authorized, also with the consent of the Supervisory Board, to exclude the subscription right of the shareholders on one or more occasions, insofar as this is necessary to compensate for residual amounts. The Executive Board is authorized to determine, with the consent of the Supervisory Board, the further details of the capital increase, the further content of the share rights and the terms and conditions of the issue of shares. The Supervisory Board is authorized to adjust the wording of Section 4 of the company statutes in accordance with the respective utilization of Authorized Capital II and after the expiration of the authorization period.

The capital stock is conditionally increased by up to €120,209,310.00 through the issue of up to 12,020,931 new no-par value bearer shares (contingent capital). The contingent capital serves exclusively to grant shares to the holders or creditors of convertible bonds and/or bonds with warrants or a combination of all these instruments, which are issued by the company in accordance with the authorization up to May 31, 2026 resolved by the Annual General Meeting on June 1, 2021 under agenda item 7 a) and grant a conversion or option right to new no-par value bearer shares in the company or determine a conversion or option obligation or a right to tender and insofar as the issue takes place in return for cash. The new shares are issued at the conversion or option price to be determined according to the previously mentioned authorization resolution. The contingent capital increase is only to be carried out to the extent that conversion or option rights are exercised, or the conversion/option obligation is satisfied, or shares are tendered, and no other forms of fulfillment are used. The new shares will participate in the net income from the beginning of the fiscal year in which they are created by exercising conversion or option rights or through the fulfillment of corresponding

obligations (fiscal year of origin); in deviation from this, the new shares will participate in the net income from the beginning of the fiscal year preceding the fiscal year in which they were created if the Annual General Meeting has not yet passed a resolution on the utilization of the profit earmarked for distribution from the fiscal year preceding the fiscal year in which they were created. The Executive Board is authorized, with the consent of the Supervisory Board, to determine the further details of the implementation of conditional capital increases.

As part of the annual employee investment plan, 33,986 shares of Fraport AG were issued to employees in the reporting period, which are subject to a one-year lock-up period. In addition, each member of the Executive Board is obliged to acquire shares of Fraport AG in the amount of at least one annual gross base remuneration within a five-year establishment phase in annual installments, and to hold them permanently during their membership on the Executive Board.

Furthermore, there are special-purpose loans of Fraport AG with clauses, which among other things, relate to changes in the shareholder structure, and control of the company. If these changes have a proven negative effect on the credit rating of Fraport AG, the creditors have, above a certain threshold, the right to call the loans due ahead of time on a case-by-case basis.

On the basis of the consortium agreement concluded between the State of Hesse and Stadtwerke Frankfurt am Main Holding GmbH dated April 18/23, 2001, last amended on April 17, 2024, the total voting rights in Fraport AG held by both shareholders, calculated in accordance with Section 34 (2) of the German Securities Trading Act (WpHG), amounted to 52.23% as at December 31, 2024. Of this, the State of Hesse held 31.31% and Stadtwerke Frankfurt am Main Holding GmbH 20.92%. Stadtwerke Frankfurt am Main Holding GmbH is a 100% subsidiary of the City of Frankfurt/Main, so the voting rights of Stadtwerke Frankfurt am Main Holding GmbH are attributable to the City of Frankfurt/Main.

Report on the Relationships with Affiliated Companies

Due to the shares of 31.31% (previous year: 31.31%) held by the State of Hesse and 20.92% (previous year: 20.92%) held by Stadtwerke Frankfurt am Main Holding GmbH, as well as the consortium agreement concluded between these shareholders on April 18/23, 2001 with supplements as at December 2, 2014 and April 17, 2024, Fraport AG is a publicly controlled enterprise. There are no control or profit transfer agreements.

The Executive Board of Fraport AG therefore compiles a report on the relationships with affiliated companies in accordance with Section 312 of the AktG. At the end of the report, the Executive Board made the following statement: "The Executive Board declares that under the circumstances known to us at the time, Fraport AG received fair and adequate compensation for each and every legal transaction conducted. During the reporting year, measures were neither taken nor omitted at the request of or in the interests of the State of Hesse and the City of Frankfurt/Main and their affiliated companies."

Combined Statement on Corporate Governance

The Fraport AG Executive Board reports – in the name of the Supervisory Board as well – on the contents subject to the reporting requirements pursuant to Section 289f of the German Commercial Code (HGB) for Fraport AG as well as for the Fraport Group as part of a combined statement on corporate governance pursuant to Section 289f of the HGB and Section 315d of the HGB read in conjunction with Section 289f of the HGB, in order to enable a general statement on the Group's corporate governance principles. The combined statement on corporate governance is published in the "To Our Shareholders" chapter and on the corporate website at www.fraport.com/en/investors/corporate-governance.html.

Information in accordance with the German Energy Economics Act (EnWG)

Fraport AG operates its own energy supply network and in mid-2011 applied for the status of "closed distribution network," which is associated with considerable benefits compared to general supply networks. In accordance with the requirements of Section 6b of the EnWG (German Energy Industry Act), Fraport AG is obliged to prepare separate business statements. The regulations were applied in accordance with the requirements of the Federal Network Agency in the 2024 annual financial statements.

Annual General Meeting (AGM)

At the AGM on May 28, 2024, Fraport AG received a clear majority for all agenda items from its shareholders. Of the capital entitled to vote, 77,674,459 no-par value shares were represented in resolutions with the same number of voting rights (84% of all no-par value shares or of the capital), of which 76,227,023 (82.44% of all no-par value shares or of the capital) cast their votes in person and 1,447,436 by postal vote. The next AGM will be held on May 27, 2025.

Control system

The "Control System" chapter explains the key indicators used by the Executive Board to make the corporate measures taken as part of the Group strategy measurable and to evaluate them.

Changes Compared with the Previous Year

The following changes were made to the Group's control system in the 2024 fiscal year. Consistent with the new Group strategy Fraport.2030, the number of key financial performance indicators was reduced compared to the previous year by removing Group liquidity and net financial debt to EBITDA ratio. These key figures continue to be listed as important financial key figures and reflect the financial stability of the company. There have been no other changes to the financial key figures at Fraport Group and Fraport AG level.

In parallel to this, the Executive Board dealt with the requirements of the Corporate Sustainability Reporting Directive (CSRD). In this context and in the course of the adoption of the new Group strategy, the number of passengers, global passenger satisfaction, and employee satisfaction in the Group and at Fraport AG were defined as important strategic non-financial key figures.

Beginning with the reporting for the 2024 fiscal year, the Executive Board will focus on the following financial performance indicators, the developments of which are presented in the "Results of Operations," "Asset and Financial Position," and "Value Management" chapters. Corresponding forecasts for the key financial performance indicators have been stated in the "Business Outlook" chapter.

Financial Performance Indicators

Overview financial key performance indicators

Key figure	Scope	Value 2024	Terms
			2025	2030
EBITDA (€ million)	Group	1,301.8	Moderate single-digit	2,000
			percentage growth
Free Cash Flow (€ million)	Group	-674.7	Improvement in the	1,000
			mid three-digit
			million range - close to
			break-even
Group Profit	Group		501.9 Previous year's level or	–
			slightly below
ROFRA	Group	6.3	Previous year's level	long-term
				>WACC
Net profit (€ million)	Fraport AG	343.5	Up to 400 € million	long-term
Liquidity (€ million)	Fraport AG	2,998.9	>1 € billion,	long-term
			at previous year's level

For Fraport, the growth-oriented development of financial performance indicators is critical for the long-term success of the company. Their overriding importance is reflected in the Group strategy. Control, derived from the Group strategy, is carried out primarily at the Group level, and segment-specific key figures are used to aid the process.

Fraport uses the key figures EBITDA, Group result, free cash flow, and return on Fraport assets (ROFRA) as key financial performance indicators. EBITDA and ROFRA are also direct components of the Executive Board remuneration and underline the relevance of these financial key figures as control elements.

EBITDA represents the operating performance of the company. It is defined as operating earnings before interest, taxes, and depreciation and amortization. The Group result is the Group result after tax. Free cash flow is the result of the cash flow from operating activities less the effects resulting from the application of IFRS 16, investments in airport operating projects, capital expenditure for other intangible assets, capital expenditure in property, plant, and equipment, investments for "investment property" and capital expenditure in companies accounted for using the equity method, plus "dividends from companies accounted for using the equity method." The free cash flow provides information about the financial funds available to the Group from the operating activities of a period after deducting operating capital expenditure activities. These free funds can be retained in order to increase the company's liquidity and to be available as a financial reserve for future capital expenditure or to reduce the leverage (the gearing ratio) and/or can be distributed among shareholders as dividends. Due to the ongoing capital expenditure for expansion activities in Frankfurt and internationally, the free cash flow continues to be extraordinarily burdened and temporarily negative. Following the completion of the major construction measures in Frankfurt (Terminal 3) and the construction of the new terminal in Lima, the aim is to achieve a clear increase in free cash flow in positive territory.

The ROFRA is calculated on the basis of the EBIT extended by the results before taxes of the Group companies accounted for using the equity method divided by the Fraport assets. The Fraport assets are defined as the average of the fixed interest-bearing capital of the Group or segments required for operations including the carrying amounts of the Group companies accounted for using the equity method. To avoid economic enhancement coming solely from depreciation and amortization of assets, the Executive Board recognizes regularly depreciable or amortizable assets within Fraport assets at half of their historical acquisition/manufacturing costs (at cost/2), and not at residual carrying amounts. Goodwill and investments in Group companies accounted for using the equity method and other assets not included in depreciation and amortization, in particular assets in construction, are recognized in full at acquisition/manufacturing costs because they are not subject to regular depreciation and amortization. Within the scope of the initial implementation of IFRS 16, other property, plant, and equipment also includes the rights to use resulting from leasing contracts. They are included in the calculation at half acquisition/manufacturing costs.

At Fraport AG level, net income is a key figure of significance for determining the distribution potential. The liquidity of Fraport AG is also relevant for management. Against the background of the capital-intensive expansion at the Frankfurt site and the international business as well as the temporarily high net financial debt, the Executive Board is aiming for minimum liquidity that is well above €1 billion.

Important financial key figures

Fraport uses key figures relating to the consolidated results of operations and the Group asset and financial position, as well as key figures that link the results of operations with the asset and financial position (value management), as further financial performance indicators. These indicators are managed in accordance with the long-term oriented Group strategy and are assessed by the Executive Board taking into account the long-term forecasted market developments. In this context, strategic measures – such as the implementation of larger capital expenditure projects or the expansion of international business – can also lead to a shortto medium-term burden on the financial performance indicators.

Overview of key financial figures

Key figure	Scope	Value 2024	Term	Target level
Group liqudity	Group	3,936.6		Long term > €1 billion, temporarily clearly higher
Net financial debt to EBITDA	Group	6.4	Long term	Max. 5x

Asset and financial position key figures

As well as in the results of operations, the result of the strategically adopted measures and operating activities of Fraport is also reflected in the Group's asset and financial position. For Fraport, in particular the development of the net financial debt to EBITDA ratio and the Group liquidity are significant.

Group liquidity includes cash and cash equivalents (as at the statement of financial position) plus short-term realizable items in "other financial assets." This key figure provides information on the financial stability of the Fraport Group, even over a long period of time. The Executive Board aims for liquidity of at least €1 billion in the long term. Against the backdrop of the current macroeconomic volatilities, the high level of debt related to the pandemic, and ongoing expansion activities, a temporarily substantially higher level of liquidity is being maintained.

The net financial debt to EBITDA ratio provides information on the financial stability of the company and how many years are required to service the net financial debt via EBITDA. Net financial debt consists of long-term and short-term financial liabilities less Group liquidity. The Executive Board has decided on a ratio of a maximum of five for this key figure and is resolved to reach this target value again in the medium term once the expansion activities have been completed.

Links between the results of operations and the asset and financial position (value management)

To increase the Group's value in the long term, the Executive Board specifically draws parallels between the development of the results of operations and the asset and financial position. In this context, the Executive Board plans and manages the Group's development according to the principles of value management.

In addition to the aforementioned ROFRA, Fraport uses the value added as a measure of economic enhancement. The value added is annually consolidated and recorded at Group and at segment level. It is calculated from the "adjusted" EBIT, which also includes the results before taxes of the Group companies accounted for using the equity method, minus the Fraport assets multiplied by the WACC.

The goal is to generate value added of zero for the regulated Aviation segment, and generate clearly positive values added for the other segments.

Fraport calculates the weighted average cost of capital (WACC) using the capital asset pricing model and uses this regulatory specific WACC to calculate its airport charges. Given the continuously changing economic environment, interest rate levels, and/or the risk and financing structure of Fraport, Fraport regularly reviews, and, if needed, adjusts its WACC. The WACC is also used for the value management of the Fraport Group. The WACC for the fiscal year increased compared to the previous year to 8.0% (before taxes, 2023: 7.6%).

The regulatory WACC is composed as follows:

Calculation of the WACC

Cost of equity	Cost of debt
Equity cost rate before taxes 16.2 %	Debt cost rate before taxes 2.3 %
Shareholders' equity ratio 43 % (based on market value)	Debt ratio 57 % (interest-bearing 44 % / non interest-bearing 13 %)

WACC before taxes 8.0 %

The KPI developments in the past fiscal year are described in the "Results of Operations" chapter. The other financial key figures can be found in the "Asset and Financial Position" and "Value Management" chapters. The forecasted figures for the 2025 fiscal year can be found in the "Business Outlook" chapter. Definitions for calculating the financial key figures can be found in the "Glossary" chapter.

Strategic non-financial key figures

Within the framework of the Fraport.2030 strategy, the following important strategic non-financial key figures are used to measure performance:

Overview strategic non-financial performance indicators

Key figure	Scope	Value 2024	Terms
			2025	2030
Number of passengers (million)	Group	136.4	–	187
Global satisfaction of passengers (%)	Group	77	85	85
Employee satisfaction	Group	5.0	5	5
Number of passengers (million)	Fraport AG	61.6	up to 64 million	–
Global satisfaction of passengers (%)	Fraport AG	70	80	85
Employee satisfaction	Fraport AG	4.8	> 4.8 and at least 0.1	5
			better than 2024

1) Number of passengers excluding passengers at Antalya Airport

The growth in traffic is largely dependent on the development of passenger numbers at Group airports. Personnel planning, the operation of airport facilities, and the allocation of resources depend on this figure, which is used as a control parameter. The number of passengers is collected at the respective sites, and systematically recorded and consolidated.

Global satisfaction describes passengers' satisfaction with the services and processes offered and the service at Fraport's airports. It is collected as part of continuous passenger surveys at fully consolidated Group airports. The Group global satisfaction indicator is the weighted average of the global satisfaction in Frankfurt and at the fully consolidated international airports. As part of the Group strategy Fraport.2030, a target value of 85% has been set.

Employee satisfaction is a central instrument for measuring employee mood. Fraport is convinced that satisfied employees achieve higher customer loyalty and improved performance. From 2024, the key figure is measured annually on the basis of an

extensive survey of the employees of Fraport AG and the fully consolidated Group companies. All labor-intensive Group companies in Frankfurt and the Group companies in Greece, Slovenia, Bulgaria, Peru, Brazil, and the USA participate in the survey. The results obtained from this provide the basis for long-term goal setting. The goal is to continuously improve employee satisfaction. In 2030, the Group is aiming for a figure of 5.0.

The key figures for global passenger satisfaction and employee satisfaction are published once a year in the annual report. This is because the respective data collection processes are started in the summer and fall, so half-year reporting is not possible.

Finance Management

The core objectives of finance management are securing liquidity, limiting financial risks, achieving an appropriate level of profitability, and ensuring flexibility. The highest priority is to secure liquidity. Based on the Group's solid shareholders' equity base, this is generally secured through both internal financing via operating cash flow and external financing in the form of debt. Simple and transparent financing concepts are being pursued in connection with how financing is structured at Fraport AG as well as in the international business activities. Financial risks caused, among other things, by foreign currencies are met first and foremost by financing in the respective currency to the extent possible (natural hedging). The following section shows how finance management is implemented at Fraport AG.

To secure liquidity, Fraport AG aims to achieve balanced financing composed of bilateral loans, private placements/corporate bonds (capital market), and promissory note loans. In addition, Fraport AG has a strategic liquidity reserve to secure its independence from financing sources. The significant financing measures at Fraport AG are related mainly to refinancing existing financial maturities, and from the capital requirement, particularly for capital expenditure in Terminal 3 at the Frankfurt site and for the international Group companies. Appropriate financing instruments are selected based on the situation, depending on the attractiveness of the price as well as the volume of the financing, and complying with a balanced financing mix. In keeping with the longterm nature of capital expenditure, the financing of these projects is mostly long term as well. In line with the company's finance policy, loans can be borrowed both at a fixed and at a floating interest rate. To reduce interest rate risks from borrowing with floating interest rates, interest rate hedging transactions can be concluded as a rule.

The majority of the fully consolidated Group companies in Germany are integrated into the Fraport AG cash pool. The liquidity in these Group companies is guaranteed – via access to their own liquidity at any time as well as, within the scope of the agreements also concluded in some cases, to the financial resources of Fraport AG – so that external financing is not necessary. At the same time, the close connection of these Group companies to Fraport AG should also ensure that attention is paid to further strategic objectives of financial management within the Group.

For the fully consolidated foreign Group companies and the Group companies included using the equity method, liquidity is provided depending on the relevant company shareholding and the market environment, either by concluding project financing, bilateral loans, or by internal provision of funding via a Group loan or shareholders' equity.

Economic Report

Information about Reporting

This report summarizes the management reports of the Fraport Group and Fraport AG (combined management report). The comments on the Fraport Group also fundamentally apply to Fraport AG. Developments in the asset, financial, and earnings position of Fraport AG can be found in the chapter "Supplementary Management Report on the Separate Financial Statements of Fraport AG."

The combined non-financial statement complies with the commercial law requirements and was prepared in accordance with Section 315c in conjunction with Sections 289c to 289e of the German Commercial Code (HGB) and the European Sustainability Reporting Standards (ESRS) issued by the EU Commission for the implementation of the Corporate Sustainability Reporting Directive (EU) 2022/2464 (CSRD). The combined non-financial statement has been prepared in part using the European Sustainability Reporting Standards (ESRS). The combined non-financial statement contains the required information of Fraport AG as the parent company pursuant to Sections 289b to 289e of the HGB. It is integrated in the combined management report and can be found in the chapter "Combined Non-Financial Statement."

Group accounting takes account of the International Financial Reporting Standards (IFRS) in force on the reporting date (December 31, 2024) and the interpretations issued by the IFRS Interpretations Committee (IFRS IC) as adopted in the European Union (EU). In addition, Fraport reports the information pursuant to Section 315e (1) of the HGB.

To better represent the operating development compared with the previous year, revenue is also reported in the combined management report for order revenue from construction and expansion services in accordance with IFRIC 12 (referred to below as: Revenue adjusted for IFRIC 12). These relate to the capacitive capital expenditure in connection with service concession agreements at international Group airports (see also Group Notes, note 4 and note 49).

The Executive Board prepared the combined management report and consolidated financial statements as at December 31, 2024 at its meeting on March 11, 2025, presented the prepared consolidated financial statements to the audit committee and the Supervisory Board for review and approval at its meeting on March 14, 2025, and released them for publication on March 18, 2025.

General Statement by the Executive Board

In the past fiscal year, most of the Group airports recorded an increase in passenger numbers compared to the previous year. Accordingly, Group revenue amounted to €4,427.0 million, an increase of €426.5 million over the previous year (+10.7%). Adjusted for contract revenue from construction and expansion services based on the application of IFRIC 12, revenue increased by €407.0 million to €3,892.1 million (+11.7%).

The main components of other operating income were compensation for the negative economic effects of the coronavirus pandemic from the Greek government at the Group company Fraport Greece (€28.0 million) and compensation at the Group site in Brazil (€24.3 million).

Operating expenses (personnel expenses and cost of materials as well as other operating expenses) increased by €368.1 million to €3,274.1 million. Adjusted for expenses related to the application of IFRIC 12, operating expenses stood at €2,739.2 million (+€348.6 million). Group EBITDA was €97.8 million higher than in the previous year at €1,301.8 million thanks to the positive operating development. The financial result improved to –€87.8 million (previous year: –€148.9 million) and resulted in a Group result of €501.9 million (previous year: €430.5 million).

As a result of the increase in operating result, cash flow from operating activities increased to €1,179.1 million (previous year: €863.2 million). Free cash flow decreased mainly as a result of the progress of the expansion programs to –€674.7 million (previous year: –€656.4 million). Group liquidity declined by €104.7 million to €3,936.6 million.

Given the macroeconomic developments, the Executive Board continues to assess the traffic development and, in turn, financial development in the reporting period as positive.

Economic Environment

Development of the Macroeconomic Conditions

Despite numerous geopolitical crises, the global economy and world trade developed moderately positively in 2024. Global efforts to curb inflation have had an impact, and central banks lowered interest rates over the course of the year.

In the euro area, the economy lost momentum due to stagnating industrial production, particularly in Germany. Private consumption did not recover as much as expected and business investment also declined.

The export-dependent German economy stagnated in the reporting year. Despite the growth in income following the fall in inflation, private consumption provided little impetus. Capital investments also remained subdued. According to provisional data, German exports declined. The German economy performed weaker than the European average and remained below the economic situation of other industrialized countries, particularly by international comparison.

In the USA, the economy benefited from buoyant consumption in the wake of falling inflation and rising government spending. In many emerging markets, monetary policy remained restrictive despite falling key interest rates, which hampered investment.

In China, industrial production picked up last year and exports grew, but the economy suffered from subdued domestic consumer demand as a result of the current housing crisis and the over-indebtedness of local governments.

Gross domestic product (GDP)/world trade1)

Real changes compared to the previous year in %	2024	2023

World	+3.2	+3.1
Eurozone	+0.8	+0.5
Germany	–0.2	–0.3
USA	+2.8	+2.5
Latin America (incl. Caribbean)	+2.5	+2.5
China	+4.8	+5.2
Japan	–0.2	+1.9
World trade	+3.4	+0.4

1) 2024 and 2023 figures: Data and estimates based on International Monetary Fund (IMF, January 2025); German GDP: The German Federal Statistical Office (press release, January 15, 2025).

The price of crude oil, which can have an impact on air ticket prices and consequently on air traffic demand, and the significant exchange rates for the Fraport Group developed as follows in 2024:

Source: Bloomberg

Development of the Legal Environment

During the past fiscal year, there were no changes to the legal environment with a significant influence on the business development of the Fraport Group.

Development of the Industry-Specific Conditions

According to the preliminary figures from Airports Council International (ACI), global passenger traffic increased by 8.4% in the period from January to November 2024 compared to the same period the previous year. Air freight volume rose by 8.8%. European airports also recorded a jump in passenger numbers of 7.9%. In terms of air freight, European airports posted an increase of 10.6%. The passenger numbers at German airports recovered by 7.4%. Cargo tonnage increased by 2.2%.

Passenger and cargo development by region 2024

Changes compared to the previous year in %	Passengers 2024 January until Novem ber	Air freight 2024 January until Novem ber
Germany	+7.4	+2.2
Europe	+7.9	+10.6
North America	+4.4	+2.8
Latin America	+4.0	+6.8
Middle East	+7.8	+14.5
Asia-Pacific	+14.4	+13.0
Africa	+9.4	+5.1
World	+8.4	+8.8

Source: ACI Pax Flash and Freight Flash (ACI 11/2024, January 24, 2025), ADV for Germany; cargo (including airmail) instead of air freight (ADV 11/2024, as at December 19, 2024).

Business Development

Development at the Frankfurt Site

With traffic of around 61.6 million passengers, Frankfurt Airport achieved growth of 3.7% in the 2024 fiscal year compared to the previous year. This equated to 87.3% of the pre-crisis year 2019. Strikes and weather-related flight cancellations dampened traffic growth at the beginning of the reporting year. While holiday travel traffic continued to dominate, there was also a recovery in business travel demand – albeit with subdued momentum. Domestic traffic remained below pre-crisis levels. Overall, European traffic increased by 4.2%. Warm weather destinations and city breaks were particularly in demand. Intercontinental traffic grew by 3.4% overall. Growth was driven by Far East traffic, which increased by 13.3%, mainly due to China traffic, which recorded the highest absolute increase. The rising volume of Indian destinations also contributed to this result.

Cargo volume increased by 6.5% year on year to around 2.0 million metric tons. Frankfurt Airport benefited from the increased demand for air freight driven by e-commerce and by capacity problems in maritime traffic as a result of the ongoing geopolitical crises. Compared to 2019, this nevertheless meant a reduction in tonnage of –4.8%.

With a total of 440,853 aircraft movements, an increase of 2.4% was achieved compared to the previous year. In general, 2024 was marked by fleet bottlenecks. Measured against 2019, this figure constitutes a recovery to 85.8%. Passenger flights reached a share of 84.2% compared to 2019. At 81.8%, the seat load factor was half a percentage point above 2023, and the quotient passengers per passenger aircraft movement increased by 1.2% to 152.1. The sum of the maximum take-off weights (MTOW) increased by 2.8% year on year to 27.8 million metric tons.

Development Outside the Frankfurt Site

The passenger volume at Ljubljana Airport grew by 13.3% to around 1.4 million passengers compared to the previous year. This positive development is mainly due to the launch of new connections and more frequent flights to existing destinations and major hubs.

Passenger numbers at the Brazilian airports Fortaleza and Porto Alegre in 2024 were influenced by various external factors. In Fortaleza, the number of domestic passengers decreased compared to the previous year, mainly due to the effects of the Chapter 11 insolvency proceedings of the airline GOL. International traffic, on the other hand, developed positively. The main reasons for this were high occupancy rates, an increase in frequencies on routes to Europe, and the introduction of new connections, for example to Santiago de Chile, among other factors.

Porto Alegre experienced a sharp decline in passenger numbers due to the flooding in the region. Between May 3 and October 20, flight operations were completely suspended. Flight operations to domestic destinations resumed on October 21, 2024 with capacity restrictions. On December 16, 2024, these restrictions were lifted, which also allowed the resumption of international flights. Fortaleza welcomed 5.2 million domestic passengers (–1.5%) and around 0.4 million international passengers (+45.2%) in the year as a whole. Porto Alegre recorded 3.8 million domestic passengers (-47.1%) and around 0.1 million international passengers (-66.3%).

With around 24.5 million passengers in 2024, Lima Airport reached a new record (+3.7% compared to 2019) and recorded a considerable increase in traffic compared to the previous year (+15.2%). Domestic passenger operations recorded around 14.7 million passengers (+12.2%). In the international segment, the airport recorded considerable growth in particular with the connections to South and Central America and Europe. International traffic therefore also made a positive contribution to growth with 9.8 million passengers (+20.1%).

With around 36.0 million passengers, Fraport Greece recorded an increase of around 6.4% at the 14 airports in the 2024 reporting period compared to the previous year's figure of around 33.9 million passengers; this was a new record. During some months in the off-peak season in particular, passenger numbers were considerably higher than the corresponding previous year's figures in some cases. The previous year's figures were also exceeded in the important main tourist season. Overall, domestic traffic was 6.1% above the previous year's level, while international traffic grew by 6.5%. The largest number of foreign passengers came from Great Britain (around 20%), followed by Germany (around 14%), and Italy (around 6%).

At the Bulgarian airports in Varna and Burgas, operated by Fraport Twin Star, passenger numbers declined in 2024. At around 3.4 million passengers, passenger numbers were 8.7% below the previous year's figure. Capacity reductions at Wizz Air as well

as ongoing crises resulted in a shortfall of Ukrainian, Belarusian, Russian, and Israeli passengers. This was only partially offset by greater demand from European countries. For 2024 as a whole, there was a decline in both domestic (–4%) and international passenger numbers (–10%) compared to the previous year. Most of the passengers came from Poland (around 16%), Great Britain (around 16%), and Germany (around 15%).

Passenger numbers at Antalya Airport in the 2024 fiscal year were around 38.1 million passengers (previous year: 35.7 million). International passenger traffic showed a growth rate of 7.2%, while domestic traffic grew by 3.3%. Compared to the previous year, growth was recorded in almost all relevant international passenger groups. Passenger numbers from Great Britain and Poland recorded particularly strong growth. As in the previous year, the largest passenger groups were travelers from Germany (approximately 27%), Russia (approximately 23%), and Great Britain (approximately 11%).

Traffic development at the signifikant Group sites

	Share in %	Passengers1)		Cargo (air freight + air mail in m. t.)		Movements
		2024	Change in %2)	2024	Change in %2)	2024	Change in %2)

Frankfurt	100	61,561,247	+3.7	1,991,046	+6.5	440,853	+2.4
Ljubljana	100	1,438,713	13,3	12,353	+8.0	25,457	+11.9
Fortaleza	100	5,658,227	+1.0	50,150	+9.2	53,970	+1.4
Porto Alegre	100	3,888,527	– 48.1	24,742	– 38.8	34,974	– 51.9
Lima	80.01	24,495,815	+15.2	228,963	+7.1	189,488	+11.1
Fraport Greece	65	36,026,347	6,4	6,131	+3.5	276,341	+4.4
Fraport Twin Star	60	3,365,034	– 8.7	792	– 69.7	25,184	– 6.8
Antalya	51/503)	38,061,755	+6,5	n.a.	n.a.	232,148	+4,5

1) Commercial traffic only, in + out + transit.

2) As a result of late submissions, there may be minor changes to the figures reported for the previous year.

3) Capital share: 51%, dividend share: 50%.

Comparison with the forecasted passenger development

		2024 Adjustments during the year Interim Report Q2/6M 2024	Outlook Annual Report 2023	2023 1)	2019
Frankfurt		61,561,247 Lower half of the given passenger bandwidth	Increase to between approx. 61-65 mil lion pasengers	59,355,389	70,556,072
Ljubljana	1,438,713	–	Further recovery compared to previous year, but remaining below pre-crisis level of 2019	1,270,382	1,721,355
Fortaleza	5,658,227	–	Further recovery compared to previous year, but remaining below pre-crisis level of 2019	5,603,590	7,218,697
Porto Alegre		3,888,527 In connection with the heavy rainfall and the temporary suspension of flight operations passenger developement is expected to decline	Further recovery compared to previous year, but remaining below pre-crisis level of 2019	7,497,402	8,298,205
Lima	24,495,815	–	Traffic volume is approaching and may slightly exceed the 2019 level	21,259,016	23,578,600
Fraport Greece		36,026,347 Growth in the mid-single-digit percentage range	Passenger numbers are expected to be around or slightly above the high level of the previous year	33,870,868	30,152,728
Fraport Twin Star		3,365,034 Expected to decline	Substantial traffic increases compared to the previous year	3,686,997	4,970,095
Antalya	38,061,755 –		Substantial traffic increases compared to the previous year	35,735,407	35,483,190

1) As a result of late submissions, there may be minor changes to the figures reported for the previous year.

Passenger traffic at the Group airports predominantly developed within the forecasts provided in the 2023 Annual Report and adjusted in the second-quarter/half-yearly report 2024. Due to the floods in Porto Alegre and the resulting temporary closure of the airport, the forecast for this Group company could not be achieved.

Group's Results of Operations

Revenue

At €4,427.0 million, revenue in the Fraport Group in the 2024 fiscal year was above the previous year's figure by €426.5 million. Adjusted for contract revenue from construction and expansion services based on the application of IFRIC 12, revenue increased by €407.0 million to €3,892.1 million.

The increase at the Frankfurt site mainly resulted from higher revenue from airport charges (+€111.1 million) as well as higher revenue from infrastructure charges (+€41.9 million) and ground services (+€26.4 million) based on traffic volumes and prices.

Among the international Group airports, contributions to adjusted revenue growth came, in particular, from Fraport Greece (+€49.9 million) and the Group company Lima (+€46.2 million) based on the positive traffic development. Revenue at the Group company Fraport USA also increased (+€69.6 million), mainly due to the takeover of center management operations at Dulles and Ronald Reagan Airports in Washington D.C.

Other Operating Income

At €86.6 million, other operating income was above the previous year by €27.6 million. In the reporting period, this was impacted in particular by the compensation for the negative economic effects of the coronavirus pandemic paid to the Group company Fraport Greece by the Greek government (€28.0 million). In addition, the other operating income of the two Brazilian Group companies included positive one-off effects of €24.3 million (previous year: €18.6 million). These are the result of compensation claims for the effects of the coronavirus pandemic at the Group company in Fortaleza and payments received as compensation for the damage caused by the flooding in Porto Alegre. By contrast, the previous year's other operating income included effects from the interim consolidation of FraSec Aviation Security GmbH (€11.1 million) and from the settlement of a legal dispute at the Group company Fraport USA (€11.0 million).

Expenses

Personnel expenses in the Group increased in the 2024 fiscal year by €126.4 million to €1,202.4 million. The increase is mainly due to increases in the collective bargaining agreement and a higher headcount at the Frankfurt site. Non-staff costs (cost of materials and other operating expenses) were €2,071.7 million (+€241.7 million). Adjusted for expenses related to the application of IFRIC 12, non-staff expenses were €1,536.8 million (+€222.2 million). The increase is mainly due to higher variable concession charges and revenue-dependent lease payments at the international Group companies (+€125.7 million) as well as higher expenses for external services (+€53.3 million).

EBITDA and EBIT

At €1,301.8 million, Group EBITDA was €97.8 million above the previous year. Depreciation and amortization increased by €31.1 million to €532.3 million in the fiscal year, in particular due to the unscheduled depreciation and amortization of airport infrastructure in Frankfurt that is no longer recoverable (€20.2 million). This led to a Group EBIT of €769.5 million (+€66.7 million).

Financial Result

The financial result in the reporting period amounted to –€87.8 million (previous year: –€148.9 million). The improvement compared to the previous year is primarily due to the increase in the other financial result (+€59.4 million). This was positively impacted in the fiscal year in particular by the fair value measurement of the shares in VVSS Limited Liability Company (VVSS) in the amount of €45.0 million. With the sale of the shares, Fraport ended its involvement in Pulkovo Airport.

In addition, the interest result improved by €12.2 million. Interest income increased by €43.7 million to €144.6 million in the 2024 fiscal year, primarily due to higher interest from call and time deposits. The interest expenses of €349.4 million in the reporting period were €31.5 million above the previous year (previous year: €317.9 million). This increase was, in particular, a result from higher financing costs at Fraport AG.

The result from companies accounted for using the equity method fell by €10.5 million, influenced considerably by the result of the company responsible for the expansion in Antalya, whose operational period commences at the beginning of 2027 (–€16.7 million; in the previous year: €5.1 million). By contrast, there was an increase in earnings of the operating company in Antalya (+€9.1 million).

EBT, Group Result, and EPS

EBT in the reporting period amounted to €681.7 million (previous year: €553.9 million). With a consolidated tax rate of 26.4%, the income tax expense amounted to €179.8 million (previous year: €123.4 million). The Group result was €501.9 million (previous year: €430.5 million). This resulted in basic earnings per share of €4.88 (previous year: €4.26).

Development of the Group's financial figures

€ million	2024	2023	Change	Change in %

Revenue	4,427.0	4,000.5	+426.5	+10.7
Revenue adjusted for IFRIC 12	3,892.1	3,485.1	+407.0	+11.7
Personnel expenses	1,202.4	1,076.0	+126.4	+11.7
Cost of materials	1,851.5	1,637.3	+214.2	+13.1
EBITDA	1,301.8	1,204.0	+97.8	+8.1
Depreciation and amortization	532.3	501.2	+31.1	+6.2
EBIT	769.5	702.8	+66.7	+9.5
Group result	501.9	430.5	+71.4	+16.6
Number of employees as of December 31	19,211	18,057	+1,154	+6.4
Average number of employees	19,001	17,840	+1,161	+6.5

Comparison with the forecasted development

€ million		2024 Adjustments during the year Interim Report Q2/6M 2024	Forecast 2023	2023	Change	Change in %
EBITDA	1,301.8	Approximately the middle of the forecast bandwidths	Between approximately €1,260 million and approxi mately €1,360 million	1,204.0	+97.8	+8.1
Group result	501.9	Approximately the middle of the forecast bandwidths	Between about €435 million and up to about €535 million	430.5	+71.4	+16.6
Dividend per share in €	0.00 –		No distribution	0.00	0.0	–

The key figures EBITDA and Group result trended in the middle of the forecast range provided.

Results of Operations for Segments

Revenue in the 2024 fiscal year in the Aviation segment increased by €135.7 million to €1,234.5 million (+12.3%). This revenue growth was mainly driven by higher revenue from airport charges, which recorded an increase of +€111.1 million to €925.5 million due to positive price and traffic volume effects. Due to traffic volumes, revenue from security fees also increased by €22.9 million to €262.1 million. Personnel expenses were €31.7 million higher than in the previous year, mainly due to staff number and price effects. Cost of materials increased year on year by €25.0 million to €280.9 million.

This was particularly related to increased expenses for external services in the course of the management of aviation security checks. Due to the positive operating development, the segment's EBITDA amounted to €373.6 million (+€65.3 million). With higher depreciation and amortization (+€14.1 million), EBIT amounted to €203.0 million (+€51.2 million).

Aviation

€ million	2024	2023	Change	Change in %

Revenue	1,234.5	1,098.8	+135.7	+12.3
Personnel expenses	275.7	244.0	+31.7	+13.0
Cost of materials	280.9	255.9	+25.0	+9.8
EBITDA	373.6	308.3	+65.3	+21.2
Depreciation and amortization	170.6	156.5	+14.1	+9.0
EBIT	203.0	151.8	+51.2	+33.7
Number of employees as of December 31	3,727	3,496	+231	+6.6
Average number of employees	3,614	3,447	+167	+4.8

Revenue in the Retail & Real Estate segment increased to €536.7 million (+€37.9 million). The revenue growth was mainly due to higher retail and parking revenue (+€11.3 million and +€6.8 million, respectively). Net retail revenue per passenger was €3.35 (previous year: €3.30). Personnel expenses and cost of materials increased by €1.2 million and

€8.0 million respectively compared to the same period of the previous year. Despite increased internal charges for maintenance measures, the segment's EBITDA rose slightly to €374.6 million (+€4.7 million). With higher depreciation and amortization (+€5.4 million), segment EBIT was on a par with the previous year at €273.3 million (–€0.7 million).

Retail & Real Estate

€ million	2024	2023	Change	Change in %

Revenue	536.7	498.8	+37.9	+7.6
Personnel expenses	55.8	54.6	+1.2	+2.2
Cost of materials	166.6	158.6	+8.0	+5.0
EBITDA	374.6	369.9	+4.7	+1.3
Depreciation and amortization	101.3	95.9	+5.4	+5.6
EBIT	273.3	274.0	–0.7	–0.3
Number of employees as of December 31	612	600	+12	+2.0
Average number of employees	603	594	+9	+1.5

In the 2024 reporting year, revenue of the Ground Handling segment increased by €68.7 million to €745.5 million. The increase in traffic at Frankfurt Airport as well as price increases led to higher revenue from infrastructure charges (+€41.9 million) and ground services (+€26.4 million). Personnel expenses in the segment increased by €61.6 million

to €513.3 million. This was due to staff number and price effects, in particular at the Group company Fraport Ground Services. At €112.0 million, cost of materials was slightly higher than the previous year (+€3.1 million). Segment EBITDA was –€39.8 million (previous year: –€34.0 million), and segment EBIT was –€81.9 million (previous year: –€73.9 million).

Ground Handling

€ million	2024	2023	Change	Change in %

Revenue	745.5	676.8	+68.7	+10.2
Personnel expenses	513.3	451.7	+61.6	+13.6
Cost of materials	112.0	108.9	+3.1	+2.8
EBITDA	–39.8	–34.0	–5.8	–17.1
Depreciation and amortization	42.1	39.9	+2.2	+5.5
EBIT	–81.9	–73.9	–8.0	–10.8
Number of employees as of December 31	8,517	8,010	+507	+6.3
Average number of employees	8,319	7,716	+603	+7.8

In the reporting period, revenue from the International Activities & Services segment amounted to €1,910.3 million (+€184.2 million). Adjusted for contract revenue from construction and expansion services based on the application of IFRIC 12, revenue grew to €1,375.4 million (+€164.7 million) due to the Group-wide positive traffic development. The

increase was due to the positive traffic development at the international Group airports of Fraport Greece (+€49.9 million in adjusted revenue) and in Lima (+€46.2 million in adjusted revenue) and the takeover of center management operations at Dulles and Ronald Reagan Airports in Washington D.C. Adjusted revenue at Fraport Brasil decreased by €25.0 million in connection with the drop in passenger numbers caused by the flooding of Porto Alegre Airport.

Other income in the segment increased by €30.8 million to €74.4 million (previous year: €43.7 million), mainly due to the compensation for the negative economic effects of the coronavirus pandemic at Fraport Greece (€28.0 million), as well as compensation at the Porto Alegre and Fortaleza sites. In the previous year, other income was mainly positively impacted by the settlement of a legal dispute relating to the premature termination of the concession at Pittsburgh Airport (€11.0 million).

Personnel expenses increased by €31.9 million to €357.6 million, mainly due to higher demand for personnel in the context of traffic growth. Cost of materials in the segment increased by €178.1 million to €1,292.0 million compared to the previous year. Adjusted for the expenses relating to the application of IFRIC 12, the cost of materials increased by €158.6 million to €757.1 million. This was due in particular to higher variable concession charges, especially at the Group companies Lima and Fraport Greece. Segment EBITDA rose to €593.4 million (+€33.6 million) despite the lower contribution to earnings from Fraport Brasil. With higher depreciation and amortization (+€9.4 million), segment EBIT stood at €375.1 million (+€24.2 million).

€ million 2024 2023 Change Change in % Revenue 1,910.3 1,726.1 +184.2 +10.7 Revenue adjusted for IFRIC 12 1,375.4 1,210.7 +164.7 +13.6 Personnel expenses 357.6 325.7 +31.9 +9.8 Cost of materials 1,292.0 1,113.9 +178.1 +16.0 Cost of materials adjusted for IFRIC 12 757.1 598.5 +158.6 +26.5 EBITDA 593.4 559.8 +33.6 +6.0 Depreciation and amortization 218.3 208.9 +9.4 +4.5 EBIT 375.1 350.9 +24.2 +6.9 Number of employees as of December 31 6,355 5,951 +404 +6.8 Average number of employees 6,465 6,083 +382 +6.3

International Activities & Services

	Further Information

						Development of the key Group companies outside of Frankfurt (IFRS values before consolidation)
--	--	--	--	--	--	------------------------------------------------------------------------------------------------	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--

€ million	Share in %			Revenue1)	EBITDA					EBIT	Result
		2024	2023	Δ %	2024	2023	Δ %	2024	2023	Δ %	2024	2023	Δ %

Fraport USA	100	185.3	115.7	+60.2	61.9	61.6	+0.5	27.5	29.0	–5.2	16.7	16.4	+1.8
Fraport Slovenija	100	50.5	43.4	+16.4	19.7	12.8	+53.9	10.2	2.4	> 100	8.3	1.8	> 100
Fortaleza + Porto Alegre2)	100	91.5	108.3	–15.5	50.2	66.4	–24.4	18.2	31.0	–41.3	–5.7	2.4	–
Lima	80.01	835.0	792.0	+5.4	122.7	109.2	+12.4	84.2	80.3	+4.9	37.6	32.1	+17.1
Fraport Greece3)	65	609.6	545.2	+11.8	288.1	271.3	+6.2	223.8	206.3	+8.5	111.1	79.1	+40.5
Twin Star	60	58.2	51.2	+13.7	22.8	20.6	+10.7	13.3	10.9	+22.0	8.4	5.8	+44.8
Antalya	51/504)	515.9	467.7	+10.3	373.5	371.6	+0.5	251.9	255.3	–1.3	181.8	163.7	+11.1

1) Revenue adjusted by IFRIC 12: Lima 2024: €372.6 million (2023: €326.4 million); Fraport Greece 2024: €558.2 million (2023: €508.3 million);

Fortaleza + Porto Alegre: 2024: €70.4 million (2023: €95.4 million); Antalya 2024: €513.3 million (2023: €463.2 million).

2) Sum of the Group companies Fortaleza and Porto Alegre.

3) The Group companies Fraport Regional Airports of Greece A, Fraport Regional Airports of Greece B, and Fraport Regional Airports of Greece Management Company are collectively referred to as "Fraport Greece."

4) Capital share: 51%, dividend share: 50%.

Primarily as a result of the takeover of center management operations at the Dulles and Ronald Reagan Airports in Washington, revenue at Fraport USA increased to €185.3 million in the 2024 fiscal year (+€69.6 million). Other income amounted to €5.1 million. In the previous year, other income was mainly driven by the settlement of a legal dispute relating to the premature termination of the retail concession agreement in Pittsburgh (€11.0 million). Operating expenses increased by €63.3 million to €128.5 million. Here, too, the main reason was the inclusion of the new concession in Washington, D.C. At €61.9 million, EBITDA was on a par with the previous year. With higher depreciation and amortization (+€2.0 million), EBIT amounted to €27.5 million (previous year: €29.0 million). The result was €16.7 million (previous year: €16.4).

The increased demand for travel in 2024 and price effects led to higher revenue of €50.5 million (+€7.1 million) at the Group company Fraport Slovenija. Operating expenses increased by €2.2 million to €33.3 million, mainly due to the increased demand for personnel and price effects. Compared to the previous year, EBITDA improved by €6.9 million to €19.7 million. With lower depreciation and amortization, segment EBIT was €10.2 million (previous year: €2.4 million). The result increased to €8.3 million (previous year: €1.8 million).

The Brazilian Group companies were influenced considerably by the suspension of operations at Porto Alegre between May and October 2024. This was reflected in lower revenue of €91.5 million (–€16.8 million). Adjusted for the revenue relating to capital expenditure based on the application of IFRIC 12, revenue fell to €70.4 million (–€25.0 million).

Other income included an insurance benefit for damage caused by the flooding in Porto Alegre and compensation for operating expenses as well as compensation for the effects of the coronavirus pandemic on Fortaleza Airport in the amount of €24.3 million. At €15.1 million, personnel expenses remained at the same level as in the previous year (€15.3 million). The cost of materials increased slightly by €3.7 million to €42.9 million. Adjusted for the expenses in connection with capital expenditure based on the application of IFRIC 12, the cost of materials fell by €4.6 million to €21.8 million. EBITDA decreased to €50.2 million (–€16.2 million) and EBIT to €18.2 million (–€12.8 million). The result was –€5.7 million (previous year: €2.4 million).

At €835.0 million (+€43.0 million), revenue at the Group company Lima was positively impacted by the traffic development. Adjusted for the revenue relating to capacitive capital expenditure based on the application of IFRIC 12, revenue was €372.6 million (+€46.2 million). Personnel expenses increased to €21.9 million (+€2.8 million). The cost of materials also increased year on year by €26.4 million to €678.2 million. Adjusted for expenses resulting from the application of IFRIC 12, cost of materials increased by €29.6 million to €215.8 million. This was the result of higher concession charges due to traffic volumes. At €122.7 million, EBITDA was €13.5 million higher than the previous year. Despite higher depreciation and amortization (+€9.6 million), EBIT rose year on year to €84.2 million (+€3.9 million). With an improved financial result, the result amounted to €37.6 million (+€5.5 million).

In 2024, Fraport Greece recorded revenue of €609.6 million (+€64.4 million). Adjusted for contract revenue from capital expenditure relating to the application of IFRIC 12, revenue increased by €49.9 million to €558.2 million. This is primarily due to higher airport charges based on traffic volume, and retail revenue. Compensation for the negative economic effects of the coronavirus pandemic of €28.0 million had a positive impact on other income (previous year: €0.2 million). Personnel expenses increased by €2.9 million to €39.6 million due to volume and price effects. Cost of materials increased by €67.3 million to €274.0 million. Adjusted for expenses resulting from the application of IFRIC 12, cost of materials increased by €52.8 million to €222.6 million. At €288.1 million and €223.8 million respectively, EBITDA and EBIT were above the previous year's level (+€16.8 million and +€17.5 million respectively). The financial result improved slightly, leading to a result of €111.1 million (+€32.0 million).

Despite lower traffic volumes, revenue of the Group company Twin Star rose to €58.2 million (+€7.0 million) due to price effects. Driven by staff number and price effects, operating expenses during the reporting period amounted to €35.8 million (+€4.3 million). Correspondingly, EBITDA increased slightly to €22.8 million (+€2.2 million). EBIT amounted to €13.3 million and the result was €8.4 million.

The Group company Antalya, which is accounted for using the equity method, generated revenue of €515.9 million in the reporting period, an increase of €48.2 million due to traffic volumes. EBITDA was €373.5 million. At €251.9 million, EBIT declined slightly (previous year: €255.3 million). The result amounted to €181.8 million (previous year: €163.7 million).

EBITDA in € million	2024 Forecast 2023 [Adjustments during the year 2024]	2023	Change	Change in %
Aviation	373.6 Increase compared to previous year, but still below € 400 million	308.3	+65.3	+21.2
Retail & Real Estate	374.6 Improvement to € 400 million to slightly above [Above previous year, but below € 400 million]	369.9	+4.7	+1.3
Ground Handling	–39.8 Approximately balanced EBITDA [Improvement, but still negative]	–34.0	–5.8	–17.1
International Activities & Services	593.4 Constant to slightly above previous year [Improvement over previous year]	559.8	+33.6	+6.0

Comparison with the forecasted development

The forecasted key figures developed largely in line with the forecasts provided in the 2023 Annual Report and adjusted in the Q3/9M Interim Report.

Asset and Financial Position

Asset and Capital Structure

At €20,252.8 million, total assets as at December 31, 2024 were €1,361.9 million (+7.2%) above the previous year.

Non-current assets increased by €1,222.7 million to €16,275.8 million. This is primarily attributable to the increase in property, plant, and equipment (+€898.8 million) in connection with capital expenditure at the Frankfurt site. Investments in airport operating projects also increased by €400.7 million as a result of the ongoing expansion at the Group company in Lima in particular. Other financial assets decreased by €118.8 million due to reclassifications based on maturity, which were offset by lower additions to securities as well as investments in promissory note loans.

At €3,977.0 million, current assets were €139.3 million above the comparable value as at December 31, 2023. This is mainly due to an increase in cash and cash equivalents of €235.7 million and higher non-financial receivables and assets (+€60.3 million) due to the balance sheet date. In contrast, other current financial assets decreased by €167.2 million. The above-mentioned reclassifications based on maturity and other additions to securities were offset by higher scheduled disposals.

At €5,178.1 million, shareholders' equity as at the 2024 balance sheet date was €585.8 million higher than on December 31, 2023. The increase resulted, in particular, from the positive Group result of €501.9 million. The shareholders' equity ratio increased by 23.8% compared to previous year (December 31, 2023: 22.9%).

Non-current liabilities increased by €879.8 million to €12,598.1 million (+7.5%). The increase is mainly due to the increase in financial liabilities due to the bond issue in the second quarter of 2024 and the addition of further non-current financial liabilities by Fraport AG and the Group company Lima (+€764.3 million). These were offset in particular by maturity-related reclassifications to current financial liabilities. Current liabilities decreased in the reporting period by €103.7 million to €2,476.6 million. This is mainly due to the decrease in current financial liabilities (–€193.1 million) resulting primarily from the repayment of an existing bond. This decrease was offset by maturity-related reclassifications of previous non-current financial liabilities. In addition, trade accounts payable increased by €57.7 million to €488.5 million due to the balance sheet date.

Gross debt as at December 31, 2024 was €12,325.1 million, up €571.2 million from €11,753.9 million as at December 31, 2023. Group liquidity as at the balance sheet date consisted of cash and cash equivalents of €2,646.2 million and other financial assets of €1,290.4 million. In total, this figure was €3,936.6 million, down €104.7 million compared to the previous year. Correspondingly, net financial debt increased by €675.9 million to €8,388.5 million (December 31, 2023: €7,712.6 million). The gearing ratio reached a level of 173.7% (value as at December 31, 2023: 178.6%). The net financial debt to EBITDA ratio reached a level of 6.4 (previous year: 6.4).

Structure of the consolidated financial position as at December 31

Additions to Non-Current Assets

In the 2024 fiscal year, the additions to non-current assets of the Fraport Group totaled €1,845.8 million, €344.1 million more than the previous year (previous year: €1,501.7 million). They related to €1,281.3 million in property, plant and equipment (previous year: €955.8 million) and €546.7 million (previous year: €536.9 million) in capital expenditure in "airport operating projects." The item "Other intangible assets" accounted for €15.8 million (previous year: €7.7 million), and "Investment property" for €2.0 million (previous year: €1.3 million). The capitalization of interest expenses relating to construction work amounted to €121.4 million (previous year: €71.0 million).

At Fraport AG, the additions to non-current assets amounted to €1,276.5 million (previous year: €935.6 million). Capital expenditure was mostly attributed to the Expansion South project at the Frankfurt site – mainly relating to Terminal 3 and the passenger transport system – as well as modernization and maintenance measures for existing infrastructure.

In the 2025 fiscal year, additions to assets will also be primarily characterized by multi-year capital expenditure for the capacity expansion in Frankfurt.

The additions to non-current assets are attributed to the individual segments as follows:

Capital expenditure in the Aviation segment amounting to €736.9 million (previous year: €553.4 million) primarily concerned the ongoing construction work in connection with the Frankfurt Airport Expansion South project. Most of this amount related to Terminal 3 and the passenger transport system.

In the 2024 fiscal year, the Retail & Real Estate segment recorded additions to assets in the amount of €326.3 million (previous year: €242.1 million). The measures also concerned, in particular, the Expansion South project.

The Ground Handling segment recorded additions amounting to €169.9 million (previous year: €116.1 million). These mainly included the modernization measures for existing facilities as well as capital expenditure in connection with the Expansion South project.

In the International Activities & Services segment, additions to non-current assets amounted to €612.7 million (previous year: €590.1 million). The additions related mainly to the Group company Lima in connection with the infrastructure expansion.

Statement of Cash Flows

In the 2024 fiscal year, cash flow from operating activities (operating cash flow) of €1,179.1 million (2023: €863.2 million) was generated. The improvement of €315.9 million compared to the previous year was mainly due to the improved operating result, positive effects arising from the change in working capital, and an increased balance from incoming and outgoing interest payments.

Cash flow used in investing activities without investments in cash deposits and securities amounted to €1,760.5 million in the past fiscal year, an increase of €277.9 million year on year. The increase was primarily the result of higher capital expenditure in airport operating projects, particularly in Lima, as well as increased cash outflows for expansion measures at the Frankfurt site. Considering investments in and revenue from securities, promissory note loans, and time deposits, the overall cash flow used in investing activities was €1,513.6 million (2023: €1,818.9 million).

Compared to the previous year, cash flow used in financing activities decreased by €305.5 million to €489.9 million. Cash inflows from long-term financial liabilities were particularly affected by the bond issue in the second quarter of 2024. By contrast, the redemption of the existing bond had a considerable impact on the repayment of the long-term financial liabilities. Other substantial funds raised relate to project financing at the Group company Lima. The capital increases "Non-controlling interests" relate to capital contributions to the group company in Lima. Taking into account exchange rate fluctuations and other changes, the Fraport Group reported cash and cash equivalents based on the consolidated statement of cash flows of €950.5 million as at December 31, 2024 (2023: €796.5 million).

Free cash flow amounted to –€674.7 million (2023: –€656.4 million).

The following table shows a reconciliation to cash and cash equivalents as shown in the consolidated statement of financial position.

Reconciliation to the cash and cash equivalents as at the consolidated statement of financial position

in € million	December 31, 2024	December 31, 2023

Bank and cash balances	177.6	290.4
Time deposits with a remaining term of less than three months at the time of acquisition	772.9	506.1
Cash and cash equivalents as at the consolidated statement of cash flows	950.5	796.5
Time deposits with a remaining term of more than three months at the time of acquisition	1,695.7	1,614.0
Cash and cash equivalents as at the consolidated statement of financial position	2,646.2	2,410.5

Summary of the statement of cash flows and reconciliation to the Group's liquidity

Financing Analysis

In 2024, the finance management of the Fraport Group continued to pursue balanced funding via a diversified debt financing base with a balanced maturity profile. As at the balance sheet date, there was a balanced mix of financing, consisting of promissory note loans (20.7%), corporate bonds (17.1%), bilateral loans (42.9%), and project financing (19.3%).

To reduce interest rate risks from borrowing with floating interest rates, in the past interest rate hedging transactions were concluded in some cases. In the course of the project financing in Lima, interest rate hedging derivatives were concluded in 2023 in order to reduce the interest rate risk from project financing. The related nominal volume amounted to €797.7 million as at yearend (previous year: €530.7 million). Overall, the financial liabilities had an average remaining term of 5.9 years with an average interest maturity of approximately 4.8 years after hedging measures. Taking into account interest rate hedging transactions, the floating rate portion of the gross debt of the Fraport Group was approximately 17%, and the fixed portion approximately 83%. The cost of debt after hedging measures was 3.2%.

Fully consolidated Group companies in Germany are mostly integrated into the Fraport AG cash pool, so that acquiring separate external funding was not necessary. In the 2024 fiscal year, funding for fully consolidated foreign Group companies was obtained through project financing agreements, partly in conjunction with the additional contribution of shareholders' equity. No analysis or calculation of the financial debt structure and liquidity at segment level is carried out.

The key features of the Group financing instruments with regard to type, maturity, and interest rate structures are presented in the following table:

Financial debt structure

Financing type	Year of	Nominal volume	Maturity	Repayment structure	Interest	Interest rate
	origin	in € million
Promissory note loans	2012 – 2024		2,539.5 2025 – 2037	End of term	Fixed	0.5 % – 5.084 % p. a.
					Floating	6M-Euribor + Margin
Corporate bond	2009 – 2024		2,100.0 2027 – 2032	End of term	Fixed	1.875 % – 5.875 % p.a.
Bilateral loans	1999 – 2024		5,252.3 2025 – 2032	Mainly end of term	Mainly fixed	0.378 % – 5.06 % p. a.
Project financing (fully consolidated	2017 – 2024		2,362.0 2025 – 2045	Ongoing repayments during	Fixed and Floating	4.49 % – 10.56 % p. a.
foreign Group companies)				the term

The contractual agreements for the financial liabilities of Fraport AG include two non-financial covenants, for example, in the form of a negative pledge and a pari passu clause. Only the special-purpose bilateral loans of Fraport AG contain additional covenants.

Independent project financing agreements of fully consolidated foreign Group companies, in particular in Peru, Greece, and Brazil, contain a series of credit clauses typical for this type of financing. These clauses include regulations under which certain debt service coverage ratios and control indicators for leverage and credit terms must be complied with. Failure to comply with the agreed credit clauses may lead to restrictions on the distribution of dividends and/or to the early redemption of loans or to the additional payment of shareholders' equity.

The maturity profile of the financial debt of the Fraport Group showed a largely balanced repayment structure as at the balance sheet date (financial debt in foreign currencies translated as at the balance sheet date rate).

Maturity profile as at 31 December 2024

Liquidity Analysis

The strategy of broad diversification of investments in corporate bonds was continued in the 2024 fiscal year. The key characteristics of the investment instruments of Fraport AG in terms of type, remaining term, and interest rate structure are presented in the following table:

Asset structure of Fraport AG

Market value1) in € million	Average remaining term in years	Interest

273.5	1.3	Fixed
1,685.0	0.5	Fixed
73.1	1.5	Floating
814.7	1.0	Fixed
73.1	1.5	Floating
270.2	1.5	Fixed
0.0	0.0	Floating
14.7	1.0	Fixed
529.9	1.0	Fixed
128.9	0.3	Fixed

1) As a result of rounding, there may be discrepancies when summing up.

The ratings of all investments used in asset management are presented in the following diagram.

As at the balance sheet date, there were only rated assets in the portfolio.

The cost of carry, which is calculated using a (tiered statement) maturity-matching principle, was –1.0% (–€31.1 million) as at December 31, 2024.

Liquidity in the fully consolidated Group companies was €945.2 million (previous year: €780.7 million). As it is partly subject to drawing restrictions arising from the contractual agreements, it is not part of the asset management at Fraport AG.

As at the 2024 balance sheet date, the Fraport Group had unused credit lines amounting to €547.8 million (previous year: €958.6 million) available, of which €211.9 million were, however, earmarked for future capital expenditure on infrastructure. As at the balance sheet date, Fraport AG had unused credit lines amounting to €335.9 million (previous year: €489.2 million).

Significance of Off-Balance-Sheet Financial Instruments for the Financial Position

Fraport focuses on the products presented in the "Financing analysis" section for financing its activities. Off-balance-sheet financial instruments are of no material significance in the financing mix of Fraport.

Rating

In light of the unrestricted access of Fraport to the capital market, very healthy liquidity supply combined with its portfolio of free, approved credit lines, there has not been a need for an external rating so far.

Comparison with the forecasted development

	2024 Forecast 2023 [Adjustments during the year 2024]	2023	Change	Change in %
Free cash flow (€ million)	–674.7 Negative in the mid three-digit million € range	–656.4	–18.3	–2.8
Net financial debt
to EBITDA	6.4 Roughly at level of 2023	6.4	0.0	–
Group liquidity (€ million)	3,936.6 Below level of 2023	4,041.3	–104.7	–2.6

The key figures of the asset and financial position were in line with the forecast for the 2024 fiscal year.

Development of the Value Added

€ million	Fraport Group		Aviation		Retail & Real Estate		Ground Handling		International Activities & Services
	2024	2023	2024	2023	2024	2023	2024	2023	2024	2023

Adjusted EBIT1)	885.9	822.9	207.3	155.2	272.8	273.3	–78.8	–73.8	484.6	468.2
Fraport assets	13,988.8	12,477.7	5,224.7	4,664.1	3,109.7	2,893.5	1,080.3	953.2	4,574.1	3,966.9
Costs of capital before taxes	1,119.1	948.3	418.0	354.5	248.8	219.9	86.4	72.4	365.9	301.5
Value added before taxes	–233.3	–125.4	–210.8	–199.2	24.0	53.4	–165.2	–146.2	118.7	166.7
ROFRA in %	6.3	6.6	4.0	3.3	8.8	9.4	–7.3	–7.7	10.6	11.8

1) Adjusted EBIT = EBIT + earnings before taxes of the Group companies accounted for using the equity method.

In the 2024 fiscal year, the value added of the Fraport Group decreased by €107.9 million to –€233.3 million (previous year: –€125.4 million) and remains in a negative range.

The positive traffic development in the Group primarily contributed to an improvement of €63.0 million in adjusted EBIT to €885.9 million (previous year: €822.9 million). The higher capital expenditure, particularly in the development projects in Frankfurt and Lima, as well as the increase in WACC from 7.6% to 8.0% had an opposite effect and resulted in higher capital costs.

Due to higher capital expenditure, the ROFRA of the Fraport Group decreased by 0.3 percentage points to 6.3% (previous year: 6.6%).

The value added of the Aviation segment will continue to be determined by the progress of construction activities as part of the Expansion South project and the increase in capital costs. Despite the positive operating development, this fell by –€11.6 million to –€210.8 million (previous year: –€199.2 million). Segment ROFRA improved from 3.3% to 4.0%.

In the Retail & Real Estate segment, higher Fraport assets in the course of the expansion project in Frankfurt resulted in a decrease in the value added from €53.4 million to €24.0 million (–€29.4 million) and of ROFRA to 8.8% (previous year: 9.4%).

The value added of the Ground Handling segment decreased to –€165.2 million (previous year: –€146.2 million), mainly due to the increase in capital costs. Segment ROFRA improved to –7.3% (previous year: -7.7%).

The value added of the International Activities & Services segment decreased from €166.7 million to €118.7 million (–€48 million). This was mainly due to an increase in capital expenditure for the expansion at Lima Airport. In line with the value added, segment ROFRA decreased from 11.8% to 10.6%.

Comparison with the forecasted development

	2024 Forecast 2023	2023	Change	Change in %
Group ROFRA (%)	6.3 Roughly at the level of 2023 or slightly above	6.6	–0.3 PP	–

Despite the positive operating result, Group ROFRA was slightly below the forecast for the 2024 fiscal year at 6.3%.

Strategic Non-Financial Key Figures

Passenger Development

The Group-wide passenger numbers at fully consolidated sites rose by 2.9% year on year to 136.4 million. The development was slowed by the temporary closure of the Porto Alegre site and the decline in traffic at Fraport Twin Star. The development of the other sites is described in detail in the "Business Development" chapter. At 61.6 million passengers, there was an increase of 3.7% at the Frankfurt site, which is in the lower half of the given forecast.

Global Satisfaction of Passengers

The global satisfaction of passengers at the Frankfurt site improved by three percentage points to 70% in 2024. General satisfaction (top box share of global satisfaction) reached its annual high of 73% in the first quarter. The top box value initially fell to 70% in the second quarter and continued to fall to 69% in the third quarter before rising to 70% in the final quarter. In addition to global satisfaction, a further 18 satisfaction criteria recorded an increase in top box results, in particular satisfaction with waiting times at security checkpoints and the transfer process as a whole. The friendliness of passport control personnel and the variety of products in the duty-free/travel value shops each increased by five percentage points. Only four of the 28 criteria surveyed in the reporting year recorded declines, including waiting times at the check-in counter and general orientation and signage at the airport. The resumed criteria "Availability of information displays on departing flights and departure gates in the terminals" and "Signage for finding the departure gate" achieved a top box share of 76% and 80%, respectively.

At the fully consolidated Group airports, global satisfaction reached a cumulative value of 82% in the 2024 reporting year – an increase of two percentage points compared to 2023. To determine global satisfaction within the Group, a total of just under 35,000 passengers were surveyed at the sites in Slovenia, Bulgaria, Brazil, Peru, and Greece. The satisfaction data collected was weighted on the basis of the respective passenger numbers for the calculation of the cumulative value. Including the Frankfurt site, this resulted in a Group-wide global satisfaction of 77% for the reporting year, which corresponds to an increase of three percentage points compared to the 2023 reporting year.

Employee Satisfaction

The Group-wide employee survey (Fraport Barometer) was carried out in October 2024. There was a clear improvement in the satisfaction of Fraport Group employees compared to 2022 from 4.76 to 5.01 (rating from 1 to 7, with 7 being the best). This key figure includes the ratings of Fraport AG, the twelve Group companies at the Frankfurt site as well as Fraport Slovenija, Twin Star, Fortaleza, Porto Alegre, Lima, Fraport Greece, and Fraport USA. The response rate was 47% and improved by one percentage point compared to the last survey in 2022. The average ratings of the topic areas (satisfaction aspects) were 4.79 (2022: 4.40) for the employer, 5.01 (2022: 4.79) for the workplace, 5.12 (2022: 4.98) for the team, and 5.13 (2022: 4.86) for the managers. The average satisfaction rating of Fraport AG employees was 4.88 (2022: 4.64). In the next step, improvement measures will be derived Group-wide based on the results.

Employees

Development of employees

Average number of employees	2024	2023	Change	Change in %


Fraport Group	19,001	17,840	+1,161	+6.5
thereof Fraport AG	7,114	7,164	–50	–0.7
thereof Group companies	11,887	10,676	+1,211	+11.3
thereof in Germany	15,319	14,385	+934	+6.5
thereof abroad	3,682	3,455	+227	+6.6

The average number of employees in the Fraport Group (excluding apprentices and employees on leave) increased by 1,161 to 19,001 in the 2024 fiscal year (previous year: 17,840). As a result of the positive traffic development, the headcount increased at the Group company Fraport Ground Services GmbH (+696 employees). At Fraport AG, the headcount decreased (–50 employees) primarily due to resignations of staff. Outside Germany, the headcount increased to 3,682 (+6.6%) due to the Group-wide positive traffic development, especially at the Group companies in Peru (+133 employees) and Greece (+53 employees).

Development of employees in the segments

Average number of employees	2024	2023	Change	Change in %

Aviation	3,614	3,447	+167	+4.8
Retail & Real Estate	603	594	+9	+1.5
Ground Handling	8,319	7,716	+603	+7.8
International Activities & Services	6,465	6,083	+382	+6.3

The average number of employees in the International Activities & Services, Ground Handling, and Aviation segments increased as a result of traffic volumes.

Development of employees as at the balance sheet date

Number of employees as at the balance sheet date	December 31, 2024	December 31, 2023	Change	Change in %


Fraport Group	19,211	18,057	+1,154	+6.4
thereof Fraport AG	7,158	7,095	+63	+0.9
thereof Group companies	12,053	10,962	+1,091	+10.0
thereof in Germany	15,682	14,811	+871	+5.9
thereof abroad	3,529	3,246	+283	+8.7

Compared with the previous year, the number of employees in the Fraport Group (excluding apprentices and employees on leave) increased by 6.4% (+1,154 employees) to 19,211 as at December 31, 2024. The increase is attributable in particular to the Group companies Fraport Ground Services GmbH (+613 employees) and the FraSec Group (+145 employees) and is due to a higher demand for personnel as a result of traffic volumes. Outside of Germany, employee numbers increased in particular in the Group companies in Peru (+131 employees), Slovenia (+84 employees), Greece (+46 employees), and Brazil (+31 employees).

Development in Personnel Structure

Fraport values the diversity of its employees. This diversity helps the Group to better understand the concerns of its customers, develop innovative solutions, and remain competitive in a globalized economy. Diversity management is therefore a central compo-nent of its human resources strategy. It is based on a Group agreement that includes the establishment of principles of anti-discrimination, advancement of women into management positions, and diversity. These principles form part of recruitment deci-sions and training measures.

With regard to permanent employees excluding seasonal staff as at the balance sheet date, the Group staff turnover rate of 12.7% in the reporting period was slightly higher than the previous year's rate (previous year: 12.6%). The Group's percentage of women, in relation to the total number of employees including temporary staff, apprentices, and employees on leave as at Decem-ber 31, 2024, decreased to 23.4% (previous year: 23.8%). The average age of the Group's workforce decreased to 44.7 years (previous year: 45.4 years). The percentage of persons with major disabilities relative to the total number of employees exclud-ing apprentices and temporary staff decreased compared to the previous year to 6.6% on a Group-wide basis (previous year: 7.1%).

At Fraport AG, the proportion of female employees as at the balance sheet date 2024 was 20.1% (previous year: 19.7%). The proportion of employees with severe disabilities fell year on year to 11.9% (previous year: 12.4%). The average number of apprentices increased to 251 (previous year: 227). The staff turnover rate at Fraport AG increased slightly to 2.8% (previous year: 2.7%).

Combined Non-Financial Statement

General Information

Disclosures on ESRS 2

The combined non-financial statement of Fraport provides information about the undertaking's governance and performance in relation to substantial sustainability issues, including detailed performance indicators (sustainability indicators). The general information section contains identified material sustainability impacts, risks, and opportunities, as well as the principles of Fraport for the combined non-financial statement, which form the basis for its preparation.

Basis for Preparation

Disclosure Requirement BP-1 – General Basis for Preparation of Sustainability Statements

This combined non-financial statement is part of the 2024 management report and is prepared for the Fraport Group and Fraport AG in accordance with Section 315c in conjunction with Sections 289c to 289e of the German Commercial Code (HGB). The preparation was carried out with partial application of the European Sustainability Reporting Standards (ESRS) As a framework within the meaning of section 289d HGB. The aspects of the non-financial statement were integrated into the structure of the reporting, whereby the ESRS were partially applied.

Aspects in the non-financial statement	Topics in ESRS

	ESRS E1 Climate change
Environmental matters	ESRS E2 Pollution
Employee-related matters	ESRS S1 Own workforce
Social Matters	ESRS S3 Affected communities
Customer satisfaction and product quality	ESRS S3 Affected communities
	ESRS S1 Own workforce
Respect for human rights	ESRS S3 Affected communities
Anti-corruption and bribery	ESRS G1 Business conduct

The content of this report is based on a double materiality analysis (DMA), which was carried out in accordance with the ESRS requirements. The result of the analysis is that five out of ten ESRS topics are generally material for Fraport in the 2024 fiscal year. However, the content contained in this summarized non-financial statement does not fully reflect the result of the DMA due to the only partial application of ESRS. The following table shows the existence and scope of the ESRS disclosure requirements. "Partially applied" means a deviation from individual data points within the disclosure requirements. "Applied" refers to the full implementation of the ESRS disclosure requirements. "Not applied" refers to a disclosure requirement that is actually mandatory under ESRS, which is either derived from the DMA or is required independently of it as a minimum disclosure requirement, but is not reported. "Not material" describes a disclosure requirement that has been classified as non-reportable on the basis of the DMA.

Disclosure requirement IRO-2 - Disclosure requirements included in the ESRS and covered by the company's sustainability statement

Reporting obligation	Description	Application status

ESRS 2-BP1	General basis for preparation of sustainability statements	applied
ESRS 2-BP2	Disclosures in relation to specific circumstances	partially applied
ESRS 2-GOV 1	The role of the administrative, management and supervisory bodies	partially applied
ESRS 2-GOV 2	Information provided to and sustainability matters addressed by the undertaking's administrative, management and	partially applied
	supervisory bodies
ESRS 2-GOV 3	Integration of sustainability-related performance in incentive schemes	partially applied
ESRS 2-GOV 4	Statement on due diligence	partially applied
ESRS 2-GOV 5	Risk management and internal controls over sustainability reporting	partially applied
ESRS 2-SBM 1	Strategy, business model and value chain	partially applied
ESRS 2-SBM 2	Interests and views of stakeholders	partially applied
ESRS 2-SBM 3	Material impacts, risks and opportunities and their interaction with strategy and business model	applied
ESRS 2-IRO 1	Description of the processes to identify and assess material impacts, risks and opportunities	applied
ESRS 2-IRO 2	Disclosure requirements in ESRS covered by the undertaking's sustainability statement	applied
	ESRS E1 i.c.w. ESRS 2 GOV-3 Integration of sustainability-related performance in incentive schemes	partially applied
ESRS E1-1	Transition plan for climate change mitigation	partially applied
ESRS E1 SBM-3	Material impacts, risks and opportunities and their interaction with strategy and business model	partially applied
ESRS E1 i.c.w. ESRS 2 IRO 1	Description of the processes to identify and assess material climate-related impacts, risks and opportunities	partially applied
ESRS E1-2	Policies related to climate change mitigation and adaptation	partially applied
ESRS E1-3	Actions and resources in relation to climate change policies	partially applied
ESRS E1-4	Targets related to climate change mitigation and adaptation	partially applied
ESRS E1-5	Energy consumption and mix	applied
ESRS E1-6	Gross Scopes 1, 2, 3 and Total GHG emissions	partially applied
ESRS E1-7	GHG removals and GHG mitigation projects financed through carbon credits	not material
ESRS E1-8	Internal carbon pricing	not material
ESRS E1-9	Anticipated financial effects from material physical and transition risks and potential climate-related opportunities	not applied
ESRS E2 i.c.w. ESRS 2 IRO-1	Description of the processes to identify and assess material pollution-related impacts, risks and opportunities	applied

ESRS E2-1	Policies related to pollution	applied
ESRS E2-2	Actions and resources related to pollution	applied
ESRS E2-3	Targets related to pollution	partially applied
ESRS E2-4	Pollution of air, water and soil	not material
ESRS E2-5	Substances of concern and substances of very high concern	not material
ESRS E2-6	Anticipated financial effects from pollution related impacts, risks and opportunities	not material
	ESRS S1 i.c.w. ESRS 2 SBM-2 Interests and views of stakeholders	applied
	ESRS S1 i.c.w. ESRS 2 SBM-3 Material impacts, risks and opportunities and their interaction with strategy and business model	partially applied
ESRS S1-1	Policies related to own workforce	partially applied
ESRS S1-2	Processes for engaging with own workers and workers' representatives about impacts	partially applied
ESRS S1-3	Processes to remediate negative impacts and channels for own workers to raise concerns	applied
ESRS S1-4	Taking action on material impacts on own workforce, and approaches to mitigating material risks and pursuing material opportunities related to own workforce, and effectiveness of those actions	partially applied
ESRS S1-5	Targets related to managing material negative impacts, advancing positive impacts, and managing material risks and opportunities	partially applied
ESRS S1-6	Characteristics of the undertaking's employees	applied
ESRS S1-7	Characteristics of non employee workers in the undertaking's own workforce	not material
ESRS S1-8	Collective bargaining coverage and social dialogue	partially applied
ESRS S1-9	Diversity metrics	applied
ESRS S1-10	Adequate wages	not material
ESRS S1-11	Social protection	not applied
ESRS S1-12	Percentage of employees with disabilities	partially applied
ESRS S1-13	Training and skills development	partially applied
ESRS S1-14	Health and safety	partially applied
ESRS S1-15	Work-life balance	not applied
ESRS S1-16	Compensation metrics (pay gap and total compensation)	partially applied
ESRS S1-17	Incidents, complaints and severe human rights impacts	applied
	ESRS S3 i.c.w. ESRS 2 SBM-2 Interests and views of stakeholders	applied
	ESRS S3 i.c.w. ESRS 2 SBM-3 Material impacts, risks and opportunities and their interaction of with strategy and business model	partially applied
ESRS S3-1	Policies related to affected communities	partially applied
ESRS S3-2	Processes for engaging with affected communities about impacts	applied

ESRS S3-3	Processes to remediate negative impacts and channels for affected communities to raise concerns	applied
ESRS S3-4	Taking action on material impacts, and approaches to mitigating material risks and pursuing material opportunities related to affected communities, and effectiveness of those actions and approaches	partially applied
ESRS S3-5	Targets related to managing material negative impacts, advancing positive impacts, and managing material risks	partially applied
	and opportunities
	ESRS G1 i.c.w. ESRS 2 GOV-1 The role of the administrative, supervisory and management bodies	applied
ESRS G1 i.c.w. ESRS 2 IRO-1	Description of the processes to identify and assess material impacts, risks and opportunities	applied

Disclosure requirement IRO-2 - Disclosure requirements included in the ESRS and covered by the company's sustainability statement

Reporting obligation	Description	Application status

ESRS G1-1	Corporate culture and business conduct policies and corporate culture	partially applied
ESRS G1-2	Management of relationships with suppliers	not material
ESRS G1-3	Prevention and detection of corruption and bribery	partially applied
ESRS G1-4	Confirmed incidents of corruption or bribery	partially applied
ESRS G1-5	Political influence and lobbying activities	not material
ESRS G1-6	Payment practices	not material

This combined non-financial statement was prepared on a consolidated basis and includes all consolidated undertakings of the Fraport Group in accordance with the scope of the consolidated financial statements. Unless otherwise stated, the quantitative data refer to this consolidated basis. The concepts and approaches outlined in this combined non-financial statement apply equally to Fraport AG.

The companies (parent companies and subsidiaries) included in the combined non-financial statement correspond to those included in the scope of consolidation in the consolidated financial statements. They are included in accordance with the principle of financial control. For the purposes of GHG accounting, it was also examined whether the principle of operational control applies to joint ventures, associates and other investments in the Fraport Group that are accounted for using the equity method. A twostage analysis was carried out to determine operational control. It has shown that Fraport does not have operational control over joint ventures, associates and other investments for the 2024 reporting year. Therefore, non-financial data for these companies is only included in Scope 3 accounting. In sustainability activities and the assessment of sustainability impacts, Fraport deals with its own business operations at the respective sites as well as the upstream and downstream value chain. The first stage of the upstream and downstream value chain (Tier 1) was included in the process of determining the substantial impacts, risks, and opportunities.

Fraport purchases products and services from numerous suppliers. The German Act on Corporate Due Diligence Obligations in Supply Chains applies in the upstream supply chain. In this context, Fraport is also aiming at or including the first stage of the supply chain.

In its combined non-financial statement, Fraport does not include information relating to intellectual property, know-how, or innovation results. Likewise, information on upcoming developments or matters that are still in negotiation stages is omitted.

Disclosures Based on Other Legal Regulations or Generally Accepted Bulletins Regarding Sustainability Reporting

According to the "Act to Supplement and Amend the Regulations for the Equal Participation of Women in Management Positions in the Private and Public Sector" (FüPoG II), Fraport must provide disclosures on the proportion of women in management positions.

Disclosures pursuant to Article 8 of Regulation 2020/852 (EU Taxonomy Regulation) are published in the environmental information (E1).

Disclosure Requirement BP-2 – Disclosures in Relation to Specific Circumstances

The combined non-financial statement covers the period from January 1, 2024 to December 31, 2024.

The combined non-financial statement includes estimates of data from the upstream and downstream value chain. The analysis of the value chain is predominantly based on the assessment of experts from the Fraport Group and is therefore subject to a certain degree of uncertainty. The data is validated internally by the quality assurance body; no further external validation is performed. Uncertainties in connection with estimates are explained below.

Uncertainties related to estimates are explained below.

Supply Mix of Energy

The breakdown of energy consumption by individual generation types is based on electricity labeling or information on the composition, which is not regularly available for the current reporting year. If required market-related data was not available in individual cases, the next best site-related data was used. Fraport considers the resulting uncertainties to be low.

GHG Emissions

All reported GHG emissions are based on activity data such as energy consumption or transportation services and activity-specific emission factors. In the absence of local or more specific factors, the current emission factors of the Department for Environment, Food & Rural Affairs (DEFRA) were applied. Since these are generally prepared for the British economy, the application to activities in other countries leads to uncertainties. These go beyond the basic uncertainties of emission factors underlying life cycle analyses. In addition, data from the International Energy Agency (IEA), the Federal Office of Economics and Export Control (BAFA) and the Global Warming Potential (GWP) were used. Fraport considers these uncertainties for the calculation of Scope 1 and 2 to be low.

The forecasts of potential future GHG emissions without reduction actions are subject to estimates and uncertainties as described in the financial management report. In the short-term forecast, they are low and increase too much up to the target forecast in 2045.

GHG Emissions Scope 3, Categories 1 and 2

Fraport calculates its procurement-related GHG emissions from the production of delivered products and the provision of services from the upstream value chain using a multi-regional input/output model from an external service provider by assigning the procurement volume to 65 economic sectors on a country-specific basis. Uncertainties arise from the clustering of the overall economy into only 65 sectors with different average emission factors as the best possible, but not exact, allocation of products and services to these sectors. The uncertainty is assessed as medium for the absolute value and as low for the evaluation of the time progression.

GHG Emissions Scope 3, Category 3

The activity data corresponds to the energy data for Scope 1 and 2. The emission factors used come from DEFRA. Fraport assesses the uncertainty as low.

Category 7 Activity Data and Category 11 Landside Traffic

The amount of travel to and from sites of Fraport is based on surveys of both employees and travelers. The survey results were not up-to-date for all sites, particularly among employees. In the event of missing results, the transportation mode mix was extrapolated based on the next best reference site. The assumptions for the transportation mode mix for the start and flow of air freight are based on internal experts. Fraport considers the uncertainty to be medium.

Aviation Activity Data in Category 11

Half-distance fuel consumption calculations are based on distances between destinations and our sites, as well as aircraft type and route-specific fuel consumption information from EUROCONTROL. The uncertainty is assessed as medium for the absolute value and as low for the evaluation of the time progression.

GHG Emissions of Minority Interests in Category 15

Minority interests without flight operations are assessed on the basis of their revenue on the basis of the model described in Scope 3, Categories 1 and 2.

In principle, the local GHG emissions balance is used for minority interests with flight operations. If there were no GHG emissions for the reporting year in accordance with Scope 1 and 2 at the time of publication, the data was extrapolated on the basis of the previous year's GHG emissions and the traffic volume for the reporting year. Delhi Airport also collects its GHG emissions for a reporting period from April to March. Fraport is not aware of any significant events between the reporting periods that have a significant impact on the emissions balance.

For Scope 3 GHG emissions, if the calculation deviates from the half-distance method, the extrapolation was based on Fraport investments with a comparable business model and local traffic volume to ensure comparability of the category with the other categories.

Fraport considers the overall uncertainty of GHG emissions in Category 15 to be medium.

Estimates Related to the Calculation of Pay Differences

In calculating the gross hourly wages for men and women within the group, a working time of 39.3 hours per week was assumed for employees not covered by collective agreements, expatriates, and board members. Further estimation uncertainties are associated with the inclusion of special payments.

Governance

Disclosure Requirement GOV-1 – The Role of the Administrative, Management, and Supervisory Bodies

The Executive Board manages the strategic and operational business at Frankfurt Airport as well as the national and international investments of Fraport AG, and the Supervisory Board supervises the Executive Board. The members of the Executive Board and the Supervisory Board work closely together in the interests of the company. The Executive Board usually meets every week and constitutes a quorum if at least half of its members participate in the meeting. Resolutions are adopted by a simple majority of all the participating members of the Executive Board. In the case of a tied vote, the chair holds the casting vote. The Executive Board reports to the Supervisory Board on all relevant matters of business development, corporate strategy, including sustainability issues, and possible risks in a regular, timely, and comprehensive manner.

The length of the appointment of the Executive Board members is geared toward the long term and is five years as a standard. The Executive Board of Fraport AG is comprised of five members: Dr. Stefan Schulte (Chairman), Anke Giesen, Julia Kranenberg, Dr. Pierre Dominique Prümm, and Prof. Matthias Zieschang.

The Supervisory Board of Fraport AG supervises the activities of the Executive Board. As a rule, the Supervisory Board meets four times a year. It is composed of an equal number of representatives of shareholders and employees and comprises 20 members as provided for in the company statutes. The ten shareholder representatives are elected by the AGM, and the ten employee representatives are elected by the employees in accordance with the provisions of the German Co-Determination Act (MitbestG) for five years. Both the representatives of the shareholders and the employees have a gender quota of at least 30% women and at least 30% men.

The Supervisory Board has formed committees to increase its efficiency and to prepare for Supervisory Board meetings. In the 2024 fiscal year, these were the following committees: "finance and audit committee," "participation and investment committee," "personnel committee," "executive committee" (meeting only if necessary), committee pursuant to Section 27 of the German Co-Determination Act (MitbestG) or "mediation committee" (meeting only if necessary), and "nomination committee" (meeting only if necessary). The chairpersons of the committees provided regular reports at the next Supervisory Board meeting to the plenum of the Supervisory Board on the work of the committees. In individual appropriate cases and in accordance with law, decisionmaking powers of the Supervisory Board are granted to the committees.

The members of the Executive Board have the knowledge and experience necessary to conduct the business of Fraport properly. The members of the Supervisory Board have the knowledge and experience necessary to be able to perform their monitoring tasks properly. Relevant areas of competence include strategy development and implementation, IT and digitalization, risk management and accounting. The members of the Executive Board continuously update their knowledge in the relevant areas by participating in specialist events, presentations by consulting companies, and information from the specialist departments within the Group. This also applies to sustainability issues.

The members of the Supervisory Board submit their skills and acquired knowledge for monitoring sustainability matters in a declaration.

	Executive Board	Supervisory Board

Number of executive members	5	0
Number of non-executive members	0	20
Percentage of independent board members	–	50%

Gender diversity	Executive Board	Supervisory Board
Percentage of men	60	65
Percentage of women	40	35

The Executive Board has established appropriate responsibilities, tasks, and structures within the Fraport Group in order to enable the achievement of the sustainability targets. Responsibility for the proper design of sustainability management lies with the full Executive Board. In addition, the respective Executive Directors are responsible for the sustainability issues within their area of responsibility. The central unit of Fraport AG Corporate Development and Sustainability, which is assigned to the department of the Chairman of the Executive Board, manages and coordinates the further development of sustainability activities and continuous updating of the DMA on behalf of the Executive Board. The definition and implementation of actions with regard to substantial impacts, risks, and opportunities is the responsibility of the relevant departments or Group companies.

The Supervisory Board of Fraport AG deals with sustainability issues in various committees with clearly defined responsibilities. The finance and audit committee monitors financial and sustainability-related reporting, while the executive committee takes sustainability matters into account in the targets and remuneration of the members of the Executive Board. The risk committee regularly reviews the substantial corporate risks, including sustainability risks, and assesses appropriate management strategies.

The Executive Board bears overall responsibility for strategic management, including the sustainability management. On a quarterly basis and on an ad-hoc basis, it reports to the Supervisory Board on substantial developments, actions, and risks. Reporting is done in a structured format with detailed information on financial, operational, and sustainability-related metrics. In addition, the risk committee receives quarterly reports on current risk assessments and risk mitigation actions.

Fraport uses an integrated risk management system to identify, assess, and manage impacts, risks, and opportunities. This includes risk analyses, internal audits, and regular reporting processes for reviewing defined actions. An internal control system (ICS) ensures that risks are continuously monitored. An escalation mechanism enables the timely reporting of critical risks to the Executive Board and the Supervisory Board.

Further process steps for governance, in particular for monitoring and controlling impacts, risks, and opportunities, will be further developed as part of the ongoing updating of the DMA. Additional actions and monitoring mechanisms will be implemented in the next two years.

It is planned to define further actions and targets with regard to material impacts, risks, and opportunities and the measurement of progress toward achieving these targets, as well as the definition of their monitoring by administrative, management, and supervisory bodies in 2025.

Disclosure Requirement GOV-2 – Information Provided to and Sustainability Matters Addressed by the Undertaking's Administrative, Management, and Supervisory Bodies

The Chairman of the Executive Board was regularly informed of the interim results of the double materiality assessment (DMA) – procedures for collecting, identifying, and assessing the impacts, risks, and opportunities. An overview of the procedure and the final results were presented to the full Executive Board in November 2024. After examination, the Executive Board approved the results of the DMA. The Supervisory Board, represented by the finance and audit committee, was informed twice about the results in the fall of 2024. The finance and audit committee is responsible for monitoring the impacts, risks, and opportunities. The Supervisory Board commissioned Deloitte GmbH Wirtschaftsprüfungsgesellschaft to audit the combined non-financial statement.

Projects within Fraport AG that require a decision by the Executive Board are regulated in the rules of procedure for the Executive Board. Accordingly, the applying section must also assess the justification for the decision in the decision with regard to its impact on non-financial aspects. There is currently no standardized decision-making process for dealing with projects that have opposite economic and sustainability-related effects. In individual cases, the advantages and disadvantages of the decision as well as the effects on the sustainability matters are compared and weighed against each other.

Disclosure Requirement GOV-3 – Integration of Sustainability-Related Performance in Incentive Schemes

Executive Board remuneration at Fraport AG is set by the undertaking's Supervisory Board upon the recommendation of its executive committee that it formed and is regularly reviewed for appropriateness. The remuneration system is designed to promote the long-term and sustainable development of the Fraport Group and includes both fixed and performance-related components. In order to support sustainable corporate development, non-financial components are also included in the measurement of performance remuneration.

In order to integrate non-financial and other qualitative performance criteria into the Executive Board remuneration system, as well as to assess the collective performance of the Executive Board as the overall executive body, the bonus includes a so-called "modifier" with a range of 0.9 to 1.1. The modifier assesses both the collective performance of the Executive Board as well as the target achievement of non-financial performance criteria. The modifier is defined on the basis of a predefined list of criteria, which also includes sustainability-related ESG targets. ESG targets can include the aspects of occupational health and safety, compliance, energy and environment, customer satisfaction, employee concerns, or corporate culture.

Two strategic corporate targets and one ESG target, each with a weighting of one third, were adopted for the 2024 fiscal year. The ESG target is to construct a large-scale photovoltaic installation along Runway 18 West. The target achievement is based on the start of construction and the completion date of the photovoltaic installation.

The share of variable remuneration, which depends on sustainability-related targets, was 3.0% in the reporting year.

The remuneration of the members of the Supervisory Board, who act as the supervisory body of the Executive Board, is based on the following principles. Each member of the Supervisory Board shall receive a fixed remuneration payable at the end of the fiscal year. The Chairman of the Supervisory Board receives three times the fixed remuneration, the Chairman of the finance and audit committee receives twice the fixed remuneration, and the Vice-Chairman of the Supervisory Board and the Chairmen of the other committees of the Supervisory Board each receive one and a half times the fixed remuneration. For their membership in committees, Supervisory Board members receive an additional, fixed remuneration per committee and fiscal year, but for a maximum of two committee memberships.

In addition, each member of the Supervisory Board receives attendance fees for all attendance at meetings of the Supervisory Board and its committees. In addition, expenses incurred and, if applicable, value added tax incurred on the remuneration and meeting fees are refunded. The remuneration of the Supervisory Board does not provide for variable remuneration based on the economic success of the undertaking or specific variable sustainability-related performance remuneration.

Disclosure Requirement GOV-4 – Statement on Due Diligence

The due diligence is implemented by all bodies and committees as part of their regular meetings and is not the subject of special meetings.

The following table shows the most important aspects and steps of the due diligence procedures in accordance with the reporting, with partial application of ESRS:

Core elements of due diligence a) Integrating due diligence into governance, strategy and business model b) Involvement of affected stakeholders in all key due diligence steps c) Identification and assessment of negative impacts d) Measures to counter these negative impacts	Sections in the combined non-financial statement
	ESRS 2 GOV-2 ESRS 2 SBM-3 ESRS 2 GOV-3
	ESRS 2 SBM-2 ESRS 2 IRO-1 ESRS E1-4 ESRS E2 i.c.w. ESRS 2 IRO-1 ESRS E2-1 ESRS S1-1 ESRS S1-2 ESRS G1-1
	ESRS 2 SBM-3 ESRS 2-IRO 1 ESRS E1-1 ESRS E2 i.c.w. ESRS 2 IRO-1
	ESRS E1-3 ESRS E2-2 ESRS S1-4 ESRS S3-4 ESRS G1-4
e) Tracking and communicating the effectiveness of these efforts	ESRS E1-4 ESRS E2-3

Disclosure Requirement GOV-5 – Risk Management and Internal Controls over Sustainability Reporting

Fraport has implemented a Group-wide risk management system and a central internal control system (ICS). The central internal control system systematically identifies, controls, and monitors material process risks. The ICS is based on the COSO framework and serves as a central tool for monitoring and ensuring the adequacy and effectiveness of substantial operational processes.

A Control Self-Assessment (CSA) is conducted annually to assess the adequacy and effectiveness of the system and to continuously improve it. The target of this is to assess the appropriateness and effectiveness of the business process controls and to identify possible weaknesses in the processes at an early stage. The knowledge gained is incorporated directly into the further development of the ICS. The results of the CSA are presented annually in Executive Board meetings. In addition, the finance and audit committee of the Supervisory Board receives an annual report on the appropriateness and effectiveness of the central ICS.

Internal controls have also been implemented or are in the implementation phase in the area of sustainability reporting. In order to ensure a uniform procedure and consistent documentation, these actions will be fully integrated into the central ICS in the coming fiscal year. The identification and assessment of risks in this section was carried out in advance, with substantial threshold values being defined. These include, in particular, financial risks that relate to earnings and liquidity, as well as reputational risks with a probability of occurrence of more than 50%.

Particular attention is paid to reporting process risks that could cause the external or internal reporting to be erroneous and therefore do not reflect the actual situation of the undertaking. To minimize these risks, Fraport relies on various control mechanisms, in particular on ensuring high data quality, carrying out plausibility checks, and the principle of multiple control in data checking and consolidation.

The Group-wide risk management system of Fraport not only identifies and assesses risks but also manages, monitors, and reports them. Risk is understood to be a possible future development or an event that could have a negative impact on the achievement of operational, strategic, or sustainability-related targets. Non-financial risks may have a negative impact on the achievement of the environmental, sustainable, and social targets of Fraport.

The risk evaluation is conservative and the worst-case scenario is always used as a basis. A distinction is made between gross risk – i.e. the maximum possible negative impact before countermeasures – and net risk, which remains after the actions have been implemented. The evaluation is carried out according to the methods defined in the "risk and opportunities report."

The results of the risk evaluation are directly incorporated into the following steps of risk management, monitoring, and reporting.

Strategy

Disclosure Requirement SBM-1 – Strategy, Business Model, and Value Chain

Significant Groups of Products and/or Services Offered

Fraport generates the majority of its revenue and earnings from the passenger and freight business at each of its sites. Fraport primarily levies charges for the use of the airport infrastructure, generates income from the development of commercial areas, and offers additional operational services. Fraport reports the main revenue streams resulting from this as "airport charges," "infrastructure charges," "ground services and security services," "retail," "real estate" and "parking." In the area of airport concessions, revenue from "construction and expansion services in connection with IFRIC 12" are also reported. In its reporting, Fraport distinguishes between the following four segments:

Aviation holistic management of the terminal facilities and airport processes at Frankfurt Airport.
Retail & Real Estate development and renting of space at the airport and of space mainly near the airport in Frankfurt. This primarily includes the retail business, building and space leasing as well as parking management.
Ground Handling ground services such as loading, baggage and passenger services, as well as the operation of the central infrastructure and baggage transfer system at Frankfurt Airport.
International Activities & Services international marketing of the expertise of the Group and of airport operations as well as bundling central services in Frankfurt.

Fraport currently does not offer fully emission-free products or services. However, the business model includes individual economic activities that are classified as climate-friendly according to the EU taxonomy. As part of the decarbonization of our own business activities, the services offered are being made more sustainable. One indicator for such sustainable partial aspects is the taxonomy-aligned economic activities in the environmental target of climate change mitigation in accordance with the Delegated Regulation 2021/2178. Further details can be found in the section "Information on the EU Taxonomy Regulation."

Significant Markets and/or Customer Groups

As an international airport Group, Fraport sees itself as a participant in the global aviation market in general. The focus of business activities is on the Group sites that are operated. In the segment reporting of the consolidated financial statements in accordance with IFRS 8, the sections of Germany, the rest of Europe, Asia, and the Americas form separately reported revenue regions.

Apart from passengers, its substantial customer groups especially include airlines, tenants of office and retail space, authorities, and freight forwarders.

The total number of employees in the Fraport Group was divided into the following geographical areas in 2024:

Geographical areas	Number of employees

Germany	17,010
Europe (excluding Germany)	1,962
South America	1,536
North America	64
Rest	18
Total number of employees	20,591

Breakdown of Total Revenue by Key ESRS Sectors

The consolidated financial statements of Fraport include segment reporting in accordance with IFRS 8. There is no breakdown of total revenue by ESRS sector.

Fraport is not active in the fossil fuel sector (coal, oil, and gas), in the production of chemicals, in the area of controversial weapons, or in the cultivation and production of tobacco.

Sustainability Targets

At the beginning of 2024, the new Fraport.2030 Group strategy was published. The sustainability targets of the Group are also anchored in this. The strategy includes the three strategic priorities: growth and sustainability, efficiency and innovation, and top employer. The first focus is on corporate responsibility and emphasizes that the growth-oriented Group strategy should not contradict sustainable action. The target of the strategic direction is to achieve long-term and profitable growth. At the same time, Fraport places a strong focus on sustainable aspects, in particular climate and environmental protection. In this context, Fraport is aiming for a position as the leading operator of environmentally friendly airports by 2030.

The strategic priority "top employer" includes capital expenditure of Fraport in the targeted training and further training of employees as well as the establishment of a modern HR organization. This strategic priority therefore also supports the taking of corporate responsibility as part of sustainability activities.

The progress in implementing the two strategic priorities mentioned above is measured using key performance indicators (KPIs). These include the number of passengers (in millions), GHG emissions (t CO₂e), and employee satisfaction. Quantitative targets have been defined for 2027 and 2030.

The strategy is implemented in all sections and companies of the Group by a selected and focused project portfolio. Projects with a particular communicative power were defined that support the rollout of the Group strategy and make it tangible (beacon projects). At the same time, the projects represent the Group's core activities with regard to the long-term development of the company. Due to the broad concept of sustainability regarding social, economic, and ecological aspects, numerous strategic projects contribute to the strategic priorities "growth & sustainability" and "top employer." The two projects "decarbonization master plan" and "HRneo" are to be highlighted here because of their high relevance in terms of content in the context of sustainability.

Decarbonization Master Plan

Because of the decarbonization master plan and the adopted actions, Fraport is committed to achieving net-zero status at the fully consolidated sites within Scopes 1 and 2. One of the most important actions of the master plan is the conversion of the electricity mix to renewable energies. This includes the undertaking's own generation of renewable energies, energy storage, the development of an infrastructure for alternative drive systems, and the electrification of the vehicle fleet. Challenges in the implementation of the decarbonization master plan can arise from schedule and cost aspects. The availability of innovative technologies that can promote achievement of targets can also delay target achievement. Despite the challenges, no substantial adverse effects are currently expected in the course of the project.

HRneo

HRneo has the target of re-orienting the HR section and increasing the employer attractiveness of Fraport in order to position the undertaking for the future and to strengthen the cohesion of its workforce. The program includes targeted management development, the formulation of the new employer promise "Fraport. Your world of opportunities," the establishment of specialized HR roles, and the further development of the HR organization. The results of the program were transferred to the line organization at the end of 2024 and form the basis for future-oriented modern human resources work. Change management, demographic change, intense competition for the best workers in an increasingly scarce labor market, and technical delays in implementation are the greatest challenges on the way to successful implementation of the project. Despite the challenges, we expect to successfully complete HRneo.

Disclosures of Inputs and Outputs

Fraport invests in the planning, construction, and maintenance of airport infrastructure such as runways, terminals, and parking garages. Operational airport management is another key element, which includes passenger and cargo handling, security controls, and baggage handling.

The most important economic players in the upstream and downstream value chain are in particular airlines, passengers, business partners in the real estate and ground services sector, concessionaires, and players in the cargo community. Their relationship is characterized by direct cooperation with the Fraport Group.

Fraport Annual Report 2024 Group Management Report / Economic Report 81 To Our Shareholders Combined Management Report Consolidated Financials Statements Group Notes Further Information

Fraport works closely with airlines to meet their needs, including ground handling and technical services. The commercial business, which includes retail, food services, and terminal services, contributes to customer satisfaction and additional earnings. The freight business is also considerable and includes comprehensive services for air freight, including storage and customs clearance. Facility management, which covers the maintenance and management of the airport infrastructure, relies on sustainable solutions to reduce costs and minimize environmental impact. Fraport pursues a customer-oriented and sustainable strategy to ensure economic success and to meet the requirements of the aviation industry.

In addition to finance, personnel, and environmental resources, the inputs of the business model also include the current infrastructure, existing know-how, and services from third-party providers. Using the "HRneo" and "decarbonization master plan" projects mentioned above, Fraport aims to secure personnel resources and reduce GHG emissions. The strategic targets "increase in EBITDA" and "free cash flow," which are also included in the Fraport.2030 Group strategy, serve to maintain financial stability and provide the necessary financial resources for the further development of the Group – see the "Strategy" section.

The outputs of the business model include the connection of the respective regions in which Fraport is active to international markets ("connectivity") and the associated mobility. Airports perform a public-service function. Because of their linking function across countries and continents, airports promote cultural interaction and international understanding.

The expansion and development of airports will increase capacities and attract additional passenger and freight traffic. This is accompanied by economic growth impulses for the regions around the airports, for construction, transportation and logistics, and later will also be accompanied by tourism and trade. Fraport contributes to economic prosperity. This is done within the Group, as a direct employer, indirectly at the respective airports and through industries that benefit from the added value of an airport, such as tourism ("growth engine of the regions" and "airport workplace"). Fraport also aims to achieve financially profitable growth for investors and sees itself as a good partner in the regions in which the undertaking operates.

As described above in the strategy and sustainability targets section, Fraport has set itself the targets of climate change mitigation and being a top employer and wants to inspire its customers with its airports and the services and products offered (know-how & innovations).

Disclosure Requirement SBM-2 – Interests and Views of Stakeholders

The main stakeholders of Fraport are its customers, business partners, owners, and employees. Their interests are reflected in the three strategic priorities of Fraport.2030. The relevant departments regularly seek their expertise on technical matters. By engaging with interests, Fraport wants to develop an understanding of the needs in relation to sustainability issues. Any stakeholder can contact sustainability management directly via the email address [email protected].

Fraport has a broad network of institutionalized, structured communication media to promote dialog and a regular exchange of views. This includes forums for interaction with airlines, conducting regular surveys, and conducting systematic feedback management for passengers, employee surveys, investor conferences, interaction in airport associations, and especially for the Frankfurt site the Air Cargo Community Frankfurt, the Environment and Neighborhood House, and the Aircraft Noise Commission for continuous interaction with local authorities and citizens on topics relevant to airports.

Example of Neighborhood Dialog

The https://www.fraport.com/en.html website offers a wide range of services for residents living near Frankfurt Airport. Individual information on flight routes can be found on the interactive maps FRA.Map and FRA.NoM. The "My request" section provides the opportunity to provide feedback and to send inquiries to the neighborhood dialog team. There are also explanations on aircraft noise, actions such as noise abatement or roof protection programs, flight operations, or air quality. The impetus from this dialog will be used for the further development of actions for dealing with aircraft noise.

Example of an Employee Survey

The systematic exchange of information with the most important internal and external stakeholders enables Fraport to develop perspectives for the strategic alignment of the undertaking. The results of the employee survey are used to identify potential for improvement and derive appropriate actions. The results are used by the international Group companies to increase their own employee satisfaction. For the Frankfurt site, they are documented by the Central Unit "HRO," which controls implementation and processes them for the sections or German Group companies. In individual cases, the actions and the intended improvements can be included in the target agreements with executives.

Example of an Owner

Consistent, timely, and transparent communication with the owners (investors) is very important to Fraport. The investor relations (IR) team of Fraport maintains face-to-face, telephone, and virtual contact with existing and potential investors as part of roadshows, capital market conferences, or regular meetings, including at the company headquarters at Frankfurt Airport. Over the past fiscal year, targeted individual and Group meetings again took place as well as presentations with the participation of the Chief Executive Officer, Chief Financial Officer, and Chief Infrastructure Officer.

Throughout the year, the IR team was available by phone (+49 69 690-74840) or by email ([email protected]) for direct dialog.

The telephone conferences for analysts on the financial publications, the AGM in May 2024, and the provision of up-to-date information on the IR website at www.meet-ir.com rounded off the range of IR services in the past fiscal year.

Stakeholder	Engagement
Customers	Customer surveys
Business partners	Supplier code of conduct
Owners	Regular reporting, Annual General Meeting
Employees	Employee surveys
Neighborhood	Neighborhood dialogue
Society	Participation in associations

Purpose of Inclusion

The impulses from the meetings referred to above are collected and reflected on by the responsible departments. The topics are reported to the Executive Board and Supervisory Board on an ad hoc basis. The inclusion of the interests of stakeholders/stakeholder groups can also serve to get to know their needs in relation to sustainability issues. These findings serve, among other things, to further develop sustainability activities in line with needs and thus increase the satisfaction of customers and employees, for example.

Disclosure Requirement SBM-3 – Material Impacts, Risks, and Opportunities and their Interaction with Strategy and Business Model

The following table provides an overview of the material impacts, risks, and opportunities in the Fraport Group:

Disclosure requirement SBM-3 - Material impacts, risks and opportunities and their interaction with strategy and business model Disclosure requirement SBM-3 - Material impacts, risks and opportunities and their interaction with strategy and business model

	Description Description	Impact, Impact, risk or risk or opportunity opportunity	Section in the business Section in the business model/value chain model/value chain
E1 – Climate change E1 – Climate change
E1 – Climate change E1 – Climate change mitigation mitigation Greenhouse gas emissions Greenhouse gas emissions (Scope 1, 2 and 3) (Scope 1, 2 and 3)	The greenhouse gas emissions in Scope 1 and 2 are generated from the operation of the The greenhouse gas emissions in Scope 1 and 2 are generated from the operation of the airport infrastructure and company vehicles. Scope 3 covers aircraft emissions during airport infrastructure and company vehicles. Scope 3 covers aircraft emissions during take-off and landing as well as passenger, freight, and employee traffic, and the supply take-off and landing as well as passenger, freight, and employee traffic, and the supply chain. The negative impacts are dominated by the high emissions in Scope 3 chain. The negative impacts are dominated by the high emissions in Scope 3	Negative Negative impact impact	The greenhouse gas The greenhouse gas emissions are generated emissions are generated during ground handling, during ground handling, flight operations, in flight operations, in terminal operation, and terminal operation, and by the construction and by the construction and maintenance of maintenance of infrastructure. infrastructure.
E1 – Energy E1 – Energy Energy consumption Energy consumption	Airport operations require a high energy supply, in particular electricity for lighting and Airport operations require a high energy supply, in particular electricity for lighting and air conditioning as well as the operation of other technical systems. Depending on the air conditioning as well as the operation of other technical systems. Depending on the site, there is also significant consumption of district heating and fossil fuels for the site, there is also significant consumption of district heating and fossil fuels for the heating system and the vehicle fleet. The energy consumption of air transportation is heating system and the vehicle fleet. The energy consumption of air transportation is also significant along the value chain. also significant along the value chain.	Negative Negative impact impact	The energy is used in The energy is used in particular in ground particular in ground handling, flight opera handling, flight opera tions, terminal opera tions, terminal opera tions, and the operation tions, and the operation of real estate. of real estate.
E1 – Climate change E1 – Climate change adaptation adaptation Extreme weather conditions Extreme weather conditions	Extreme weather conditions (e.g., heavy rain, heat waves, lightning, forest fires) lead to Extreme weather conditions (e.g., heavy rain, heat waves, lightning, forest fires) lead to increased demands on the building infrastructure of airports. For example, system and increased demands on the building infrastructure of airports. For example, system and control technology must withstand longer and hotter heat waves. In addition, extreme control technology must withstand longer and hotter heat waves. In addition, extreme weather events such as heavy rain can cause operational interruptions at airports. weather events such as heavy rain can cause operational interruptions at airports. Depending on the terms of the concession, this can lead to loss of revenue Depending on the terms of the concession, this can lead to loss of revenue and unplanned additional expenses. and unplanned additional expenses.	Risk Risk	Extreme weather Extreme weather conditions can affect conditions can affect ground handling, ground handling, flight operations, flight operations, and terminal and terminal operation. operation.
E2 – Pollution E2 – Pollution
E2 – Pollution of air E2 – Pollution of air Air pollutants Air pollutants	Air pollutants from flight operations include nitrogen oxides, carbon monoxide, particu Air pollutants from flight operations include nitrogen oxides, carbon monoxide, particu late matter (PM10, PM2.5), hydrocarbons, ultra-fine particles (UFP), soot, and sulfur late matter (PM10, PM2.5), hydrocarbons, ultra-fine particles (UFP), soot, and sulfur oxides. Research at Frankfurt Airport showed that during the COVID-19 pandemic, the oxides. Research at Frankfurt Airport showed that during the COVID-19 pandemic, the reduction in low-level nitrogen oxide concentrations in the Rhine-Main region was reduction in low-level nitrogen oxide concentrations in the Rhine-Main region was primarily due to the decline in road traffic. For UFP, by contrast, flight operations are an primarily due to the decline in road traffic. For UFP, by contrast, flight operations are an important source and lead to increased concentrations around the airport. Due to their important source and lead to increased concentrations around the airport. Due to their small size, UFP is classified as potentially hazardous to health, but due to a lack of small size, UFP is classified as potentially hazardous to health, but due to a lack of epidemiological studies there is no dose-response relationship or limit value. epidemiological studies there is no dose-response relationship or limit value. Measurements at Group airports have not yet been required by law. Measurements at Group airports have not yet been required by law.	Negative Negative impact impact	Air pollutants are Air pollutants are generated primarily generated primarily during ground handling during ground handling and near-ground and near-ground flight operations. flight operations.
S1 – Own workforce S1 – Own workforce
S1 – Equal treatment S1 – Equal treatment and opportunities for all and opportunities for all Integrative employer Integrative employer	Fraport acts as an integrative employer and thus has a positive effect on people and Fraport acts as an integrative employer and thus has a positive effect on people and society by its associated role model function. The Group promotes diversity and society by its associated role model function. The Group promotes diversity and inclusion and, as a signatory to the Diversity Charter, actively communicates its values. inclusion and, as a signatory to the Diversity Charter, actively communicates its values. In addition, Fraport offers jobs with low educational requirements, enabling people In addition, Fraport offers jobs with low educational requirements, enabling people who have a difficult time gaining a foothold in other sectors of the economy who have a difficult time gaining a foothold in other sectors of the economy to participate independently. to participate independently.	Positive Positive impact impact	The positive impact as The positive impact as an inclusive employer an inclusive employer primarily comes from primarily comes from the company's the company's own operations. own operations.
S1 – Social dialogue S1 – Social dialogue Strong employee Strong employee participation participation	Employees at the Frankfurt site in particular are represented Group-wide by Employees at the Frankfurt site in particular are represented Group-wide by representatives and trade unions. German co-determination requirements are being representatives and trade unions. German co-determination requirements are being implemented at a high level. As a result, lower-wage employees in particular have a implemented at a high level. As a result, lower-wage employees in particular have a strong voice toward management, resulting in improved working conditions, higher strong voice toward management, resulting in improved working conditions, higher wages, social benefits, and a high level of job security. The different groups promote wages, social benefits, and a high level of job security. The different groups promote participation and an understanding of democracy. At present, this impact is particularly participation and an understanding of democracy. At present, this impact is particularly pronounced in Germany. pronounced in Germany.	Positive Positive impact impact	The strong employee The strong employee participation takes place participation takes place in the company's own in the company's own operations, particularly operations, particularly in Germany. in Germany.
S1 – Health and safety S1 – Health and safety Impacts on occupational Impacts on occupational health and safety health and safety (physical and mental stress) (physical and mental stress)	Working conditions can be physically and mentally challenging, especially for different Working conditions can be physically and mentally challenging, especially for different groups of employees on the apron and in the terminals for practical and organizational groups of employees on the apron and in the terminals for practical and organizational reasons. The existing initiatives to improve workplace resources, provide support and reasons. The existing initiatives to improve workplace resources, provide support and advice, and make work and working time more flexible are in principle helping to reduce advice, and make work and working time more flexible are in principle helping to reduce negative impacts, but in some individual cases they are not yet sufficient. negative impacts, but in some individual cases they are not yet sufficient.	Negative Negative impact impact	The physical and mental The physical and mental stress of employees stress of employees arises primarily in the arises primarily in the company itself, in company itself, in addition to third parties addition to third parties whose employees work whose employees work in the same sections. in the same sections. Terminal operation and Terminal operation and ground handling are ground handling are particularly affected. particularly affected.

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Disclosure requirement SBM-3 - Material impacts, risks and opportunities and their interaction with strategy and business model

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Disclosure requirement SBM-3 - Material impacts, risks and opportunities and their interaction with strategy and business model

E1 – Climate change E1 – Climate change mitigation

E1 – Energy

Energy consumption

E1 – Climate change adaptation

E2 – Pollution E2 – Pollution of air Air pollutants

S1 – Own workforce S1 – Equal treatment and opportunities for all Integrative employer

S1 – Social dialogue Strong employee participation

S1 – Health and safety Impacts on occupational health and safety (physical and mental stress)

Extreme weather conditions

E2 – Pollution E2 – Pollution of air Air pollutants

S1 – Own workforce S1 – Equal treatment and opportunities for all Integrative employer

S1 – Social dialogue Strong employee participation

S1 – Health and safety Impacts on occupational health and safety (physical and mental stress)

Greenhouse gas emissions (Scope 1, 2 and 3)

E1 – Energy

Energy consumption

E1 – Climate change adaptation

Extreme weather conditions

E1 – Climate change E1 – Climate change mitigation

Greenhouse gas emissions (Scope 1, 2 and 3)

84 Group Management Report / Economic Report Fraport Annual Report 2024 To Our Shareholders Combined Management Report Consolidated Financials Statements Group Notes Further Information

			Further Information

Impact, Impact, Section in the business Impact, Section in the business Section in the business risk or risk or model/value chain risk or model/value chain model/value chain opportunity opportunity opportunity	Influence on business model/ value chain	Influence on strategy and decision-making	Impacts on people and the environment	Influence of strategy and business model	Time horizon (short/medium/ long term)	Direct (own activity) or indirect (business relationships) share of material impacts	More information on actions in response to the current and expected impact
The greenhouse gas Negative The greenhouse gas The greenhouse gas emissions are generated emissions are generated emissions are generated during ground handling, during ground handling, during ground handling, flight operations, in flight operations, in flight operations, in terminal operation, and terminal operation, and terminal operation, and by the construction and by the construction and by the construction and maintenance of maintenance of maintenance of	low	medium	high	The greenhouse gas emissions are generated due to the business model.	decreasing over the long term	direct: in terminal operation, passenger and freight handling, and in flight operations indirect: at business partners	Disclosure requirement E1-3
infrastructure. infrastructure. The energy is used in The energy is used in particular in ground particular in ground handling, flight opera handling, flight opera tions, terminal opera tions, terminal opera tions, and the operation tions, and the operation tions, and the operation of real estate.	low	medium	high	The energy consumption arises due to the business model.	decreasing over the long term	direct: in terminal operation, passenger and freight handling, flight operations, and by real estate management indirect: at business partners	Disclosure requirement E1-3
of real estate. Extreme weather Extreme weather conditions can affect conditions can affect ground handling, ground handling, flight operations, flight operations, and terminal operation.	low	low		The evaluation of the risks from extreme weather events has not yet been completed. Due to the long Disclosure observation periods, they are not currently taken into account in the risk and opportunities report. requirement E1 and ESRS IRO-1
Air pollutants are Air pollutants are generated primarily generated primarily during ground handling during ground handling and near-ground and near-ground flight operations. flight operations.	low	medium	medium	The air pollutants arise due to the business model.	decreasing over the long term	direct: in passenger and freight handling and flight operations indirect: at business partners	Disclosure requirement E2-2
The positive impact as The positive impact as an inclusive employer an inclusive employer primarily comes from primarily comes from the company's own operations.	low	medium	high	Inclusion and diversity are promoted by the HR strategy. Jobs with low educational requirements are created due to the business model.	consistent over the long term	direct: in all sections of the value chain where the under taking's own employees are uti lized. (Not for concessions and not in flight operations)	Disclosure requirement S1-4
The strong employee The strong employee participation takes place participation takes place in the company's own in the company's own operations, particularly operations, particularly in Germany.	low	medium	high	Strong employee participation is also a result of the legislation and is only a limited result of the business model.	consistent over the long term	direct: in all sections of the value chain where the under taking's own employees are uti lized. (Not for concessions and not in flight operations)	Disclosure requirement S1-4
The physical and mental stress of employees arises primarily in the company itself, in addition to third parties whose employees work in the same sections. Terminal operation and	low	medium	very high	The strong, especially physical strain, primarily during ground handling arises due to the business model.	decreasing over the long term	direct: in terminal operation, security checks, and passenger and freight handling indirect: for business partners	Disclosure requirement S1-4

Fraport Annual Report 2024 Group Management Report / Economic Report 85 Fraport Annual Report 2024 Group Management Report / Economic Report 85 To Our Shareholders Combined Management Report Consolidated Financials Statements Group Notes Further Information

Duty of disclosure SBM-3 – Significant effects, risks and opportunities and their interaction with strategy and business model Duty of disclosure SBM-3 – Significant effects, risks and opportunities and their interaction with strategy and business model

	Description Description	Impact, risk or opportunity	Impact, Section in the business risk or model/value chain opportunity	Section in the business model/value chain

S1 – Own workforce S1 – Own workforce
S1 – Training and S1 – Training and skills development skills development Lack of development paths	The lack of standardized career paths and opportunities for personal development The lack of standardized career paths and opportunities for personal development impair employee motivation and long-term qualification for their future professional life impair employee motivation and long-term qualification for their future professional life in the sense of lifelong learning. Remedial measures are planned in particular through in the sense of lifelong learning. Remedial measures are planned in particular through Lack of development paths the HRneo strategic program and have already been partially implemented. the HRneo strategic program and have already been partially implemented.	Negative impact	Negative impact Skills development takes place predominantly in the company itself.	Skills development takes place predominantly in the company itself.
S3 – Affected communities	S3 – Affected communities
S3 – Communities' economic,	S3 – Communities' economic, Expansion and development of airports increase capacity and attract additional passen Expansion and development of airports increase capacity and attract additional passen	Positive	Positive The socio-economic con	The socio-economic con
social and cultural rights Economic factor Economic factor (socio-economic (socio-economic contribution in the regions	social and cultural rights ger traffic and air freight. This is accompanied by economic growth impulses for the re ger traffic and air freight. This is accompanied by economic growth impulses for the re gions around the airports for construction, transportation, and logistics, and later also gions around the airports for construction, transportation, and logistics, and later also tourism and retail. In addition, airports have a role to play in providing public services. tourism and retail. In addition, airports have a role to play in providing public services. The linking function across countries and continents promotes cultural interaction and The linking function across countries and continents promotes cultural interaction and contribution in the regions understanding. understanding.	impact	impact tribution in the regions is generated through inter action across the entire value chain. value chain.	tribution in the regions is generated through inter action across the entire
S3 – Adequate S3 – Adequate housing housing	Noise pollution is a negative impact of any airport on the people in the immediate vicin Noise pollution is a negative impact of any airport on the people in the immediate vicin ity. Exposure to aircraft noise was also assessed in the course of the planning approval ity. Exposure to aircraft noise was also assessed in the course of the planning approval notice for the expansion of Frankfurt Airport. The decision contains many specifications notice for the expansion of Frankfurt Airport. The decision contains many specifications	Negative impact	Negative Noise immissions arise impact from flight operations.	Noise immissions arise from flight operations.
Noise immissions to Noise immissions to residents residents	for limiting noise pollution. They are monitored annually to ensure compliance. In addi for limiting noise pollution. They are monitored annually to ensure compliance. In addi tion, programs for active and passive noise abatement have been implemented. Interna tion, programs for active and passive noise abatement have been implemented. Interna tionally, measurement obligations and perceived impact vary greatly but are generally tionally, measurement obligations and perceived impact vary greatly but are generally much less pronounced. New types of ever quieter aircraft are counteracting projected much less pronounced. New types of ever quieter aircraft are counteracting projected traffic growth. traffic growth.
S3 – Security-related impacts Airport accidents/ Airport accidents/ terrorist attacks terrorist attacks	S3 – Security-related impacts Proximity to airports increases the risk of people being affected by accidents or terrorist Proximity to airports increases the risk of people being affected by accidents or terrorist attacks. Fraport has therefore established a comprehensive preventive Safety Manage attacks. Fraport has therefore established a comprehensive preventive Safety Manage ment System and Airport Security Management. ment System and Airport Security Management. The potential negative impact is high due to possible, serious accidents involving deaths The potential negative impact is high due to possible, serious accidents involving deaths or contamination. Safety measures can be used to prevent the probability and extent of or contamination. Safety measures can be used to prevent the probability and extent of	Potential negative impact	Potential Airport accidents and ter negative rorist attacks can poten impact tially be primarily related to terminal operation, ground handling, and	Airport accidents and ter rorist attacks can poten tially be primarily related to terminal operation, ground handling, and
	negative impacts. The probability of a terrorist attack was set to very low in the risk ag negative impacts. The probability of a terrorist attack was set to very low in the risk ag gregation. gregation.		flight operations. flight operations.
G1 – Business conduct G1 – Business conduct
G1 – Corruption and bribery	G1 – Corruption and bribery Major projects at airports are mostly in the public light since they are flagship projects. Major projects at airports are mostly in the public light since they are flagship projects.	Potential	Potential Corruption can poten	Corruption can poten
Corruption Corruption	That is why corruption cases have a very negative impact on undertakings, employees, That is why corruption cases have a very negative impact on undertakings, employees, and business partners. Corruption can occur both within the Group and at suppliers. His and business partners. Corruption can occur both within the Group and at suppliers. His torically, investigations have already been carried out in isolated cases. Fraport is also ac torically, investigations have already been carried out in isolated cases. Fraport is also ac tive internationally in countries with a high risk of corruption. Occasional cases can be tive internationally in countries with a high risk of corruption. Occasional cases can be prevented by means of information and governance. In spite of various measures to pre prevented by means of information and governance. In spite of various measures to pre vent corruption, isolated cases with clear criminal intent cannot be prevented. vent corruption, isolated cases with clear criminal intent cannot be prevented.	negative impact	negative tially occur throughout impact the value chain. the value chain.	tially occur throughout
G1 – Business conduct G1 – Business conduct	Cyber risks include cyberattacks, computer viruses, or hacker attacks that can cause seri Cyber risks include cyberattacks, computer viruses, or hacker attacks that can cause seri	Risk	Risk Cyber risks affect the	Cyber risks affect the
Cyber risks Cyber risks	ous business interruption due to a severe IT system failure or substantial data loss. An in ous business interruption due to a severe IT system failure or substantial data loss. An in creased number of warnings from the German Federal Office for Information Security creased number of warnings from the German Federal Office for Information Security shows the rise in the threat situation. The strategy includes cyber insurance and exten shows the rise in the threat situation. The strategy includes cyber insurance and exten sive organizational/technical actions. sive organizational/technical actions.		entire business model and have potential impacts on the value chain. chain.	entire business model and have potential impacts on the value
G1 – Business conduct G1 – Business conduct Legal and compliance risks	Legal and compliance risks arise from changes in national and international laws Legal and compliance risks arise from changes in national and international laws and regulations, and violations of laws and regulations with a negative financial impact. and regulations, and violations of laws and regulations with a negative financial impact. Legal and compliance risks For example, For example, changes in aviation law, the German Federal Police Act, planning and environmental law, changes in aviation law, the German Federal Police Act, planning and environmental law, security-related regulations, general regulations under capital market law, antitrust law, security-related regulations, general regulations under capital market law, antitrust law, data protection law, and labor law as well as any legal restrictions under sanctions, cor data protection law, and labor law as well as any legal restrictions under sanctions, cor ruption, fraud, or financial manipulation, and antitrust violations. ruption, fraud, or financial manipulation, and antitrust violations.	Risk	Risk Legal and compliance risks have impacts on the business model and also on the value chain, de pending on the type of change to national and international laws and regulations. regulations.	Legal and compliance risks have impacts on the business model and also on the value chain, de pending on the type of change to national and international laws and

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Duty of disclosure SBM-3 – Significant effects, risks and opportunities and their interaction with strategy and business model

S1 – Own workforce S1 – Training and skills development

Lack of development paths

S1 – Own workforce S1 – Training and skills development

Lack of development paths

S3 – Affected communities S3 – Communities' economic, social and cultural rights

Economic factor (socio-economic contribution in the regions

S3 – Adequate housing

Noise immissions to residents

Economic factor (socio-economic contribution in the regions

S3 – Adequate housing

Noise immissions to residents

Airport accidents/ terrorist attacks

G1 – Business conduct G1 – Corruption and bribery

Corruption

G1 – Business conduct

Cyber risks

G1 – Business conduct Legal and compliance risks

Corruption

Cyber risks

S3 – Security-related impacts

Airport accidents/ terrorist attacks

G1 – Business conduct G1 – Corruption and bribery

G1 – Business conduct

G1 – Business conduct Legal and compliance risks

S3 – Security-related impacts

Influence on business model/ value chain

Impacts on people and the environment

Influence on strategy and decision-making Time horizon (short/medium/ long term)

Direct (own activity) or indirect (business relationships) share of material impacts

86 Group Management Report / Economic Report Fraport Annual Report 2024

Influence of strategy and business model

86 Group Management Report / Economic Report Fraport Annual Report 2024

More information

direct: in all sections of the Disclosure material impacts response to the across the entire value chain across the entire value chain requirement S3-4 value chain where the undertak requirement S1-4 current and expected lized. (Not for concessions and Fraport Annual Report 2024 impact	the long term the long term indirect: ing's own employees are uti through business partners not in flight operations) not in flight operations)	the movement of people and the movement of people and by the HR strategy (HRneo). goods in the regions and thus provides economic growth impulses.
Further Information Fraport Annual Report 2024 85 Fraport Annual Report 2024 85 85 Group Management Report / Economic Report More information indirect: from flight operations Disclosure Disclosure Disclosure on value chain where the undertak requirement S1-4 requirement S3-4 actions in response to the lized. (Not for concessions and current and expected impact	Group Notes 85 85 Group Management Report / Economic Report Group Management Report / Economic Report Group Management Report / Economic Report Time horizon Direct (own activity) decreasing over consistent over direct: in all sections of the consistent over direct: (short/medium/ or indirect (business the long term the long term across the entire value chain long term) relationships) share of ing's own employees are uti indirect: material impacts through business partners not in flight operations)	Consolidated Financials Statements 85 85 85 85 Group Management Report / Economic Report Group Management Report / Economic Report Group Management Report / Economic Report Group Management Report / Economic Report Influence of strategy The noise immissions arise due Skills development is promoted The business model promotes and business model to the business model. by the HR strategy (HRneo). the movement of people and goods in the regions and thus provides economic growth impulses.	Combined Management Report 85 85 Group Management Report / Economic Report Group Management Report / Economic Report Impacts on medium medium high people and the environment	85 85 Group Management Report / Economic Report Group Management Report / Economic Report Influence on low medium low strategy and decision-making	To Our Shareholders Group Management Report / Economic Report Group Management Report / Economic Report 85 85 Group Management Report / Economic Report Group Management Report / Economic Report Group Management Report / Economic Report Fraport Annual Report 2024 Fraport Annual Report 2024 Group Management Report / Economic Report Influence on low low low business model/ value chain
indirect: from flight operations Disclosure Disclosure requirement S3-4 direct: from terminal operation, More information Disclosure Section in the business Disclosure on passenger and freight handling, on requirement S3-4 model/value chain value chain where the undertak requirement S1-4 actions in response to the response to the indirect: from business partners lized. (Not for concessions and current and indirect: from flight operations Disclosure expected expected requirement S3-4 impact direct: from terminal operation, direct: from terminal operation, Disclosure Disclosure Disclosure	decreasing over consistent over direct: Duty of disclosure SBM-3 – Significant effects, risks and opportunities and their interaction with strategy and business model Duty of disclosure SBM-3 – Significant effects, risks and opportunities and their interaction with strategy and business model Duty of disclosure SBM-3 – Significant effects, risks and opportunities and their interaction with strategy and business model the long term across the entire value chain Time horizon consistent over Direct (own activity) Section in the business consistent over Impact, Impact, Section in the business direct: in all sections of the Section in the business indirect: (short/medium/ or indirect (business (short/medium/ the long term or indirect (business model/value chain risk oropportunity risk or model/value chain model/value chain the long term through business partners long term) relationships) share of and flight operations opportunity ing's own employees are uti material impacts material impacts not in flight operations) decreasing over the long term consistent over consistent over direct:	The noise immissions arise due The business model promotes Duty of disclosure SBM-3 – Significant effects, risks and opportunities and their interaction with strategy and business model Duty of disclosure SBM-3 – Significant effects, risks and opportunities and their interaction with strategy and business model Duty of disclosure SBM-3 – Significant effects, risks and opportunities and their interaction with strategy and business model Duty of disclosure SBM-3 – Significant effects, risks and opportunities and their interaction with strategy and business model to the business model. the movement of people and Influence of strategy The impact itself is not based on Section in the business Skills development is promoted Impact, Section in the business Impact, Section in the business Impact, goods in the regions and thus and business model and business model the business model. model/value chain risk or model/value chain risk oropportunity model/value chain risk or by the HR strategy (HRneo). provides economic growth opportunity opportunity impulses. The noise immissions arise due to the business model. The impact itself is not based on The impact itself is not based on consistent over The business model promotes	medium high Duty of disclosure SBM-3 – Significant effects, risks and opportunities and their interaction with strategy and business model Duty of disclosure SBM-3 – Significant effects, risks and opportunities and their interaction with strategy and business model Impacts on very high Section in the business Impact, medium Section in the business Impact, people and the people and the (The potential im model/value chain risk oropportunity model/value chain risk oropportunity environment pact is high. Pre ventive actions re duce the medium probability.) very high very high high	low low Duty of disclosure SBM-3 – Significant effects, risks and opportunities and their interaction with strategy and business model Duty of disclosure SBM-3 – Significant effects, risks and opportunities and their interaction with strategy and business model Influence on medium Section in the business Impact, medium Section in the business Impact, strategy and strategy and model/value chain risk oropportunity model/value chain risk oropportunity decision-making low medium medium low	low low Duty of disclosure SBM-3 – Significant effects, risks and opportunities and their interaction with strategy and business model Duty of disclosure SBM-3 – Significant effects, risks and opportunities and their interaction with strategy and business model Duty of disclosure SBM-3 – Significant effects, risks and opportunities and their interaction with strategy and business model Duty of disclosure SBM-3 – Significant effects, risks and opportunities and their interaction with strategy and business model Influence on low Section in the business Description Section in the business Impact, low Description Section in the business Impact, Description business model/ business model/ model/value chain model/value chain risk or model/value chain risk or value chain opportunity opportunity low low low low
passenger and freight handling, requirement S3-4 direct: potentially throughout Disclosure Skills development takes Disclosure indirect: from business partners value chain where the undertak place predominantly in requirement S1-4 value chain where the undertak requirement S1-4 indirect: from business partners risk and opportuni the company itself. ties report lized. (Not for concessions and lized. (Not for concessions and direct: from terminal operation, indirect: from flight operations Disclosure	the long term across the entire value chain consistent over and flight operations and flight operations Skills development takes Negative impact Negative impact Skills development takes indirect: Skills development takes consistent over direct: in all sections of the the entire value chain place predominantly in the long term place predominantly in through business partners place predominantly in the long term the company itself. the company itself. the company itself. ing's own employees are uti not in flight operations) consistent over decreasing over	business model. the movement of people and Airport development projects The lack of standardized career paths and opportunities for personal development The lack of standardized career paths and opportunities for personal development Skills development takes Skills development takes goods in the regions and thus Negative impact Skills development takes Negative impact Skills development takes Negative impact Skills development is promoted with large numbers of contracts impair employee motivation and long-term qualification for their future professional life impair employee motivation and long-term qualification for their future professional life place predominantly in by the HR strategy (HRneo). provides economic growth place predominantly in place predominantly in by the HR strategy (HRneo). provide the possibility of in the sense of lifelong learning. Remedial measures are planned in particular through in the sense of lifelong learning. Remedial measures are planned in particular through the company itself. impulses. the company itself. the company itself. corruption in principle. The the HRneo strategic program and have already been partially implemented. impact itself is not based on impact itself is not based on The noise immissions arise due	(The potential im high pact is high. Pre pact is high. Pre The lack of standardized career paths and opportunities for personal development The lack of standardized career paths and opportunities for personal development Skills development takes Negative impact Negative impact medium ventive actions re (the potential impair employee motivation and long-term qualification for their future professional life impair employee motivation and long-term qualification for their future professional life impair employee motivation and long-term qualification for their future professional life place predominantly in place predominantly in impact is high. The sense of lifelong learning. Remedial measures are planned in particular through sense of lifelong learning. Remedial measures are planned in particular through the company itself. duce the the company itself. probability is low the HRneo strategic program and have already been partially implemented. the HRneo strategic program and have already been partially implemented. probability.) due to preventive very high medium	medium The lack of standardized career paths and opportunities for personal development The lack of standardized career paths and opportunities for personal development Skills development takes Negative impact Skills development takes Negative impact medium impair employee motivation and long-term qualification for their future professional life place predominantly in place predominantly in in the sense of lifelong learning. Remedial measures are planned in particular through in the sense of lifelong learning. Remedial measures are planned in particular through the company itself. the company itself. the HRneo strategic program and have already been partially implemented. the HRneo strategic program and have already been partially implemented. medium low	S1 – Own workforce low The lack of standardized career paths and opportunities for personal development The lack of standardized career paths and opportunities for personal development The lack of standardized career paths and opportunities for personal development The lack of standardized career paths and opportunities for personal development Skills development takes Negative impact Skills development takes Negative impact Skills development takes Negative impact low impair employee motivation and long-term qualification for their future professional life impair employee motivation and long-term qualification for their future professional life impair employee motivation and long-term qualification for their future professional life impair employee motivation and long-term qualification for their future professional life place predominantly in place predominantly in place predominantly in in the sense of lifelong learning. Remedial measures are planned in particular through in the sense of lifelong learning. Remedial measures are planned in particular through in the sense of lifelong learning. Remedial measures are planned in particular through in the sense of lifelong learning. Remedial measures are planned in particular through the company itself. the company itself. the company itself. the HRneo strategic program and have already been partially implemented. the HRneo strategic program and have already been partially implemented. the HRneo strategic program and have already been partially implemented. the HRneo strategic program and have already been partially implemented. Lack of development paths Lack of development paths low
passenger and freight handling, requirement S3-4 direct: potentially throughout direct: potentially throughout Disclosure Disclosure The socio-economic con Disclosure Disclosure indirect: from business partners tribution in the regions is requirement S3-4 requirement S3-4 requirement G1, indirect: from business partners from business partners risk and opportuni risk and opportuni generated through inter risk and opportuni ties report action across the entire ties report	the long term and flight operations consistent over consistent over The socio-economic con Positive Positive The socio-economic con The socio-economic con consistent over direct: gross increasing in Not specified since it is tribution in the regions is the long term impact regions is impact tribution in the regions is across the entire value chain the entire value chain tribution in the regions is the long term across the entire value chain the long term classified as a financial risk generated through inter generated through inter indirect: generated through inter through business partners action across the entire action across the entire through business partners action across the entire value chain. value chain. value chain. value chain.	the business model. to the business model. the business model. Airport development projects Airport development projects Expansion and development of airports increase capacity and attract additional passen Expansion and development of airports increase capacity and attract additional passen The socio-economic con Positive The socio-economic con Positive The socio-economic con Positive The business model promotes Not specified since it is ger traffic and air freight. This is accompanied by economic growth impulses for the re ger traffic and air freight. This is accompanied by economic growth impulses for the re tribution in the regions is tribution in the regions is the movement of people and with large numbers of contracts impact tribution in the regions is impact tribution in impact the movement of people and classified as a financial risk provide the possibility of provide the possibility of gions around the airports for construction, transportation, and logistics, and later also gions around the airports for construction, transportation, and logistics, and later also generated through inter goods in the regions and thus generated through inter generated through inter provides economic growth corruption in principle. The tourism and retail. In addition, airports have a role to play in providing public services. tourism and retail. In addition, airports have a role to play in providing public services. action across the entire provides economic growth action across the entire action across the entire impact itself is not based on impact itself is not based on The linking function across countries and continents promotes cultural interaction and The linking function across countries and continents promotes cultural interaction and value chain. value chain. value chain. impulses. the business model.	measures). (The potential im pact is high. Pre high high Expansion and development of airports increase capacity and attract additional passen Expansion and development of airports increase capacity and attract additional passen The socio-economic con Positive The socio-economic con Positive high Low since it is clas ventive actions re ger traffic and air freight. This is accompanied by economic growth impulses for the re ger traffic and air freight. This is accompanied by economic growth impulses for the re tribution in the regions is tribution in the regions is impact (the potential impact sified as a financial duce the impact is high. The impact is high. The gions around the airports for construction, transportation, and logistics, and later also gions around the airports for construction, transportation, and logistics, and later also generated through inter generated through inter risk probability.) probability is low tourism and retail. In addition, airports have a role to play in providing public services. tourism and retail. In addition, airports have a role to play in providing public services. action across the entire action across the entire due to preventive due to preventive The linking function across countries and continents promotes cultural interaction and The linking function across countries and continents promotes cultural interaction and value chain. value chain. measures).	medium medium Expansion and development of airports increase capacity and attract additional passen Expansion and development of airports increase capacity and attract additional passen The socio-economic con Positive The socio-economic con Positive low medium ger traffic and air freight. This is accompanied by economic growth impulses for the re ger traffic and air freight. This is accompanied by economic growth impulses for the re tribution in the regions is impact impact gions around the airports for construction, transportation, and logistics, and later also gions around the airports for construction, transportation, and logistics, and later also generated through inter generated through inter tourism and retail. In addition, airports have a role to play in providing public services. tourism and retail. In addition, airports have a role to play in providing public services. action across the entire action across the entire The linking function across countries and continents promotes cultural interaction and The linking function across countries and continents promotes cultural interaction and value chain. value chain.	S3 – Affected communities S3 – Affected communities low low Expansion and development of airports increase capacity and attract additional passen Expansion and development of airports increase capacity and attract additional passen Expansion and development of airports increase capacity and attract additional passen Expansion and development of airports increase capacity and attract additional passen S3 – Communities' economic, S3 – Communities' economic, The socio-economic con The socio-economic con Positive The socio-economic con Positive low high ger traffic and air freight. This is accompanied by economic growth impulses for the re ger traffic and air freight. This is accompanied by economic growth impulses for the re ger traffic and air freight. This is accompanied by economic growth impulses for the re ger traffic and air freight. This is accompanied by economic growth impulses for the re social and cultural rights tribution in the regions is tribution in the regions is impact tribution in the regions is impact gions around the airports for construction, transportation, and logistics, and later also gions around the airports for construction, transportation, and logistics, and later also gions around the airports for construction, transportation, and logistics, and later also gions around the airports for construction, transportation, and logistics, and later also generated through inter generated through inter generated through inter tourism and retail. In addition, airports have a role to play in providing public services. tourism and retail. In addition, airports have a role to play in providing public services. tourism and retail. In addition, airports have a role to play in providing public services. tourism and retail. In addition, airports have a role to play in providing public services. action across the entire action across the entire action across the entire The linking function across countries and continents promotes cultural interaction and The linking function across countries and continents promotes cultural interaction and The linking function across countries and continents promotes cultural interaction and The linking function across countries and continents promotes cultural interaction and value chain. value chain. contribution in the regions contribution in the regions understanding. understanding. understanding.
Disclosure direct: from terminal operation, Disclosure direct: potentially throughout indirect: from flight operations Disclosure Noise immissions arise requirement G1, passenger and freight handling, requirement S3-4 requirement S3-4 Disclosure from flight operations. requirement S3-4 risk and opportuni indirect: from business partners risk and opportuni requirement G1, requirement G1, ties report indirect: from business partners risk and opportuni ties report ties report Disclosure Disclosure	consistent over the Not specified since it is consistent over consistent over Noise immissions arise decreasing over Negative Negative Noise immissions arise Noise immissions arise long term classified as a financial risk the long term the long term gross increasing in Not specified since it is from flight operations. the long term impact impact from flight operations. the entire value chain from flight operations. and flight operations the long term the long term classified as a financial risk classified as a financial risk consistent over the consistent over the Not specified since it is Not specified since it is	Not specified since it is The impact itself is not based on Airport development projects Noise pollution is a negative impact of any airport on the people in the immediate vicin Noise pollution is a negative impact of any airport on the people in the immediate vicin Noise immissions arise The noise immissions arise due Negative Noise immissions arise Negative Noise immissions arise Negative classified as a financial risk the business model. to the business model. with large numbers of contracts Not specified since it is ity. Exposure to aircraft noise was also assessed in the course of the planning approval ity. Exposure to aircraft noise was also assessed in the course of the planning approval from flight operations. to the business model. impact from flight operations. impact from flight operations. impact provide the possibility of classified as a financial risk classified as a financial risk notice for the expansion of Frankfurt Airport. The decision contains many specifications notice for the expansion of Frankfurt Airport. The decision contains many specifications for limiting noise pollution. They are monitored annually to ensure compliance. In addi for limiting noise pollution. They are monitored annually to ensure compliance. In addi corruption in principle. The tion, programs for active and passive noise abatement have been implemented. Interna tion, programs for active and passive noise abatement have been implemented. Interna impact itself is not based on the business model. tionally, measurement obligations and perceived impact vary greatly but are generally tionally, measurement obligations and perceived impact vary greatly but are generally much less pronounced. New types of ever quieter aircraft are counteracting projected much less pronounced. New types of ever quieter aircraft are counteracting projected Not specified since it is Not specified since it is	Low since it is very high high Noise pollution is a negative impact of any airport on the people in the immediate vicin Noise pollution is a negative impact of any airport on the people in the immediate vicin Noise immissions arise Negative medium Noise immissions arise Negative classified as a (The potential im (the potential Low since it is clas ity. Exposure to aircraft noise was also assessed in the course of the planning approval ity. Exposure to aircraft noise was also assessed in the course of the planning approval from flight operations. impact from flight operations. impact financial risk pact is high. Pre impact is high. The sified as a financial sified as a financial notice for the expansion of Frankfurt Airport. The decision contains many specifications notice for the expansion of Frankfurt Airport. The decision contains many specifications ventive actions re risk for limiting noise pollution. They are monitored annually to ensure compliance. In addi for limiting noise pollution. They are monitored annually to ensure compliance. In addi probability is low duce the tion, programs for active and passive noise abatement have been implemented. Interna tion, programs for active and passive noise abatement have been implemented. Interna due to preventive probability.) measures). tionally, measurement obligations and perceived impact vary greatly but are generally tionally, measurement obligations and perceived impact vary greatly but are generally much less pronounced. New types of ever quieter aircraft are counteracting projected much less pronounced. New types of ever quieter aircraft are counteracting projected Low since it is Low since it is	high medium medium Noise pollution is a negative impact of any airport on the people in the immediate vicin Noise pollution is a negative impact of any airport on the people in the immediate vicin Noise immissions arise Negative low Noise immissions arise Negative medium ity. Exposure to aircraft noise was also assessed in the course of the planning approval ity. Exposure to aircraft noise was also assessed in the course of the planning approval from flight operations. impact from flight operations. impact notice for the expansion of Frankfurt Airport. The decision contains many specifications notice for the expansion of Frankfurt Airport. The decision contains many specifications for limiting noise pollution. They are monitored annually to ensure compliance. In addi for limiting noise pollution. They are monitored annually to ensure compliance. In addi tion, programs for active and passive noise abatement have been implemented. Interna tion, programs for active and passive noise abatement have been implemented. Interna tionally, measurement obligations and perceived impact vary greatly but are generally tionally, measurement obligations and perceived impact vary greatly but are generally much less pronounced. New types of ever quieter aircraft are counteracting projected much less pronounced. New types of ever quieter aircraft are counteracting projected high high	medium low Noise pollution is a negative impact of any airport on the people in the immediate vicin Noise pollution is a negative impact of any airport on the people in the immediate vicin Noise pollution is a negative impact of any airport on the people in the immediate vicin Noise pollution is a negative impact of any airport on the people in the immediate vicin Noise immissions arise Noise immissions arise Negative low Noise immissions arise Negative high ity. Exposure to aircraft noise was also assessed in the course of the planning approval ity. Exposure to aircraft noise was also assessed in the course of the planning approval ity. Exposure to aircraft noise was also assessed in the course of the planning approval ity. Exposure to aircraft noise was also assessed in the course of the planning approval from flight operations. from flight operations. impact from flight operations. impact notice for the expansion of Frankfurt Airport. The decision contains many specifications notice for the expansion of Frankfurt Airport. The decision contains many specifications notice for the expansion of Frankfurt Airport. The decision contains many specifications notice for the expansion of Frankfurt Airport. The decision contains many specifications for limiting noise pollution. They are monitored annually to ensure compliance. In addi for limiting noise pollution. They are monitored annually to ensure compliance. In addi for limiting noise pollution. They are monitored annually to ensure compliance. In addi for limiting noise pollution. They are monitored annually to ensure compliance. In addi Noise immissions to tion, programs for active and passive noise abatement have been implemented. Interna tion, programs for active and passive noise abatement have been implemented. Interna tion, programs for active and passive noise abatement have been implemented. Interna tion, programs for active and passive noise abatement have been implemented. Interna tionally, measurement obligations and perceived impact vary greatly but are generally tionally, measurement obligations and perceived impact vary greatly but are generally tionally, measurement obligations and perceived impact vary greatly but are generally tionally, measurement obligations and perceived impact vary greatly but are generally much less pronounced. New types of ever quieter aircraft are counteracting projected much less pronounced. New types of ever quieter aircraft are counteracting projected much less pronounced. New types of ever quieter aircraft are counteracting projected much less pronounced. New types of ever quieter aircraft are counteracting projected medium medium
requirement G1, Disclosure risk and opportuni potentially throughout Airport accidents and ter requirement G1, direct: from terminal operation, Disclosure ties report risk and opportuni passenger and freight handling, rorist attacks can poten requirement S3-4 ties report indirect: from business partners tially be primarily related risk and opportuni indirect: from business partners to terminal operation, ties report ground handling, and Disclosure flight operations. requirement G1, risk and opportuni	long term classified as a financial risk gross increasing in Not specified since it is Airport accidents and ter the long term Potential Potential Airport accidents and ter classified as a financial risk Airport accidents and ter consistent over rorist attacks can poten the long term negative negative rorist attacks can poten the entire value chain rorist attacks can poten impact impact tially be primarily related tially be primarily related and flight operations tially be primarily related to terminal operation, to terminal operation, to terminal operation, ground handling, and ground handling, and ground handling, and consistent over the Not specified since it is flight operations. flight operations. flight operations. long term classified as a financial risk	classified as a financial risk Not specified since it is Proximity to airports increases the risk of people being affected by accidents or terrorist Proximity to airports increases the risk of people being affected by accidents or terrorist Airport accidents and ter Airport accidents and ter Airport development projects classified as a financial risk Potential Airport accidents and ter Potential Airport accidents and ter Potential The impact itself is not based on attacks. Fraport has therefore established a comprehensive preventive Safety Manage attacks. Fraport has therefore established a comprehensive preventive Safety Manage rorist attacks can poten the business model. with large numbers of contracts negative rorist attacks can poten negative rorist attacks can poten negative impact impact impact tially be primarily related tially be primarily related provide the possibility of tially be primarily related tially be primarily related The potential negative impact is high due to possible, serious accidents involving deaths The potential negative impact is high due to possible, serious accidents involving deaths to terminal operation, corruption in principle. The to terminal operation, to terminal operation, or contamination. Safety measures can be used to prevent the probability and extent of or contamination. Safety measures can be used to prevent the probability and extent of ground handling, and impact itself is not based on ground handling, and ground handling, and Not specified since it is negative impacts. The probability of a terrorist attack was set to very low in the risk ag negative impacts. The probability of a terrorist attack was set to very low in the risk ag flight operations. the business model. flight operations. flight operations. classified as a financial risk	classified as a Low since it is clas financial risk Proximity to airports increases the risk of people being affected by accidents or terrorist Proximity to airports increases the risk of people being affected by accidents or terrorist Airport accidents and ter Airport accidents and ter Potential high sified as a financial Potential very high risk attacks. Fraport has therefore established a comprehensive preventive Safety Manage attacks. Fraport has therefore established a comprehensive preventive Safety Manage rorist attacks can poten negative (The potential im (the potential rorist attacks can poten negative impact impact tially be primarily related tially be primarily related pact is high. Pre impact is high. The The potential negative impact is high due to possible, serious accidents involving deaths The potential negative impact is high due to possible, serious accidents involving deaths to terminal operation, ventive actions re probability is low to terminal operation, or contamination. Safety measures can be used to prevent the probability and extent of or contamination. Safety measures can be used to prevent the probability and extent of ground handling, and duce the due to preventive ground handling, and duce the Low since it is negative impacts. The probability of a terrorist attack was set to very low in the risk ag negative impacts. The probability of a terrorist attack was set to very low in the risk ag flight operations. measures). flight operations. probability.) classified as a financial risk	medium Proximity to airports increases the risk of people being affected by accidents or terrorist Proximity to airports increases the risk of people being affected by accidents or terrorist Airport accidents and ter Potential Potential medium attacks. Fraport has therefore established a comprehensive preventive Safety Manage attacks. Fraport has therefore established a comprehensive preventive Safety Manage rorist attacks can poten negative rorist attacks can poten negative impact impact ment System and Airport Security Management. ment System and Airport Security Management. ment System and Airport Security Management. tially be primarily related The potential negative impact is high due to possible, serious accidents involving deaths The potential negative impact is high due to possible, serious accidents involving deaths to terminal operation, to terminal operation, or contamination. Safety measures can be used to prevent the probability and extent of or contamination. Safety measures can be used to prevent the probability and extent of ground handling, and ground handling, and high negative impacts. The probability of a terrorist attack was set to very low in the risk ag negative impacts. The probability of a terrorist attack was set to very low in the risk ag flight operations. flight operations.	traffic growth. traffic growth. traffic growth. high Proximity to airports increases the risk of people being affected by accidents or terrorist Proximity to airports increases the risk of people being affected by accidents or terrorist Proximity to airports increases the risk of people being affected by accidents or terrorist Proximity to airports increases the risk of people being affected by accidents or terrorist S3 – Security-related impacts S3 – Security-related impacts Airport accidents and ter Airport accidents and ter Potential Airport accidents and ter Potential low attacks. Fraport has therefore established a comprehensive preventive Safety Manage attacks. Fraport has therefore established a comprehensive preventive Safety Manage attacks. Fraport has therefore established a comprehensive preventive Safety Manage attacks. Fraport has therefore established a comprehensive preventive Safety Manage rorist attacks can poten rorist attacks can poten negative rorist attacks can poten negative impact impact ment System and Airport Security Management. ment System and Airport Security Management. ment System and Airport Security Management. tially be primarily related tially be primarily related tially be primarily related The potential negative impact is high due to possible, serious accidents involving deaths The potential negative impact is high due to possible, serious accidents involving deaths The potential negative impact is high due to possible, serious accidents involving deaths The potential negative impact is high due to possible, serious accidents involving deaths to terminal operation, to terminal operation, to terminal operation, or contamination. Safety measures can be used to prevent the probability and extent of or contamination. Safety measures can be used to prevent the probability and extent of or contamination. Safety measures can be used to prevent the probability and extent of or contamination. Safety measures can be used to prevent the probability and extent of ground handling, and ground handling, and ground handling, and medium negative impacts. The probability of a terrorist attack was set to very low in the risk ag negative impacts. The probability of a terrorist attack was set to very low in the risk ag negative impacts. The probability of a terrorist attack was set to very low in the risk ag negative impacts. The probability of a terrorist attack was set to very low in the risk ag flight operations. flight operations. flight operations. gregation. gregation. gregation.
ties report Disclosure requirement G1, direct: potentially throughout Corruption can poten Disclosure risk and opportuni tially occur throughout requirement G1, ties report indirect: from business partners the value chain. risk and opportuni ties report Disclosure requirement G1, risk and opportuni	gross increasing in Not specified since it is the long term classified as a financial risk Corruption can poten consistent over Potential Potential Corruption can poten Corruption can poten tially occur throughout negative negative tially occur throughout tially occur throughout the long term the entire value chain the value chain. impact impact the value chain. the value chain. consistent over the Not specified since it is long term classified as a financial risk	Not specified since it is classified as a financial risk Major projects at airports are mostly in the public light since they are flagship projects. Major projects at airports are mostly in the public light since they are flagship projects. Corruption can poten Airport development projects Potential Corruption can poten Potential Corruption can poten Potential That is why corruption cases have a very negative impact on undertakings, employees, That is why corruption cases have a very negative impact on undertakings, employees, tially occur throughout negative tially occur throughout negative tially occur throughout negative with large numbers of contracts and business partners. Corruption can occur both within the Group and at suppliers. His and business partners. Corruption can occur both within the Group and at suppliers. His the value chain. provide the possibility of impact the value chain. impact the value chain. impact torically, investigations have already been carried out in isolated cases. Fraport is also ac torically, investigations have already been carried out in isolated cases. Fraport is also ac corruption in principle. The tive internationally in countries with a high risk of corruption. Occasional cases can be tive internationally in countries with a high risk of corruption. Occasional cases can be impact itself is not based on Not specified since it is prevented by means of information and governance. In spite of various measures to pre prevented by means of information and governance. In spite of various measures to pre the business model. classified as a financial risk vent corruption, isolated cases with clear criminal intent cannot be prevented.	Low since it is clas sified as a financial Major projects at airports are mostly in the public light since they are flagship projects. Major projects at airports are mostly in the public light since they are flagship projects. Corruption can poten Potential high Corruption can poten Potential risk That is why corruption cases have a very negative impact on undertakings, employees, That is why corruption cases have a very negative impact on undertakings, employees, tially occur throughout negative tially occur throughout negative (the potential and business partners. Corruption can occur both within the Group and at suppliers. His and business partners. Corruption can occur both within the Group and at suppliers. His the value chain. impact impact is high. The the value chain. impact torically, investigations have already been carried out in isolated cases. Fraport is also ac torically, investigations have already been carried out in isolated cases. Fraport is also ac torically, investigations have already been carried out in isolated cases. Fraport is also ac probability is low tive internationally in countries with a high risk of corruption. Occasional cases can be tive internationally in countries with a high risk of corruption. Occasional cases can be due to preventive Low since it is prevented by means of information and governance. In spite of various measures to pre prevented by means of information and governance. In spite of various measures to pre measures). classified as a vent corruption, isolated cases with clear criminal intent cannot be prevented. vent corruption, isolated cases with clear criminal intent cannot be prevented. vent corruption, isolated cases with clear criminal intent cannot be prevented. financial risk	medium Major projects at airports are mostly in the public light since they are flagship projects. Major projects at airports are mostly in the public light since they are flagship projects. Corruption can poten Potential medium Corruption can poten Potential That is why corruption cases have a very negative impact on undertakings, employees, That is why corruption cases have a very negative impact on undertakings, employees, tially occur throughout negative tially occur throughout negative and business partners. Corruption can occur both within the Group and at suppliers. His and business partners. Corruption can occur both within the Group and at suppliers. His the value chain. impact the value chain. impact torically, investigations have already been carried out in isolated cases. Fraport is also ac tive internationally in countries with a high risk of corruption. Occasional cases can be tive internationally in countries with a high risk of corruption. Occasional cases can be high prevented by means of information and governance. In spite of various measures to pre prevented by means of information and governance. In spite of various measures to pre vent corruption, isolated cases with clear criminal intent cannot be prevented.	G1 – Business conduct high Major projects at airports are mostly in the public light since they are flagship projects. Major projects at airports are mostly in the public light since they are flagship projects. Major projects at airports are mostly in the public light since they are flagship projects. Major projects at airports are mostly in the public light since they are flagship projects. G1 – Corruption and bribery G1 – Corruption and bribery Corruption can poten Corruption can poten Potential low Corruption can poten Potential That is why corruption cases have a very negative impact on undertakings, employees, That is why corruption cases have a very negative impact on undertakings, employees, That is why corruption cases have a very negative impact on undertakings, employees, That is why corruption cases have a very negative impact on undertakings, employees, tially occur throughout tially occur throughout negative tially occur throughout negative and business partners. Corruption can occur both within the Group and at suppliers. His and business partners. Corruption can occur both within the Group and at suppliers. His and business partners. Corruption can occur both within the Group and at suppliers. His and business partners. Corruption can occur both within the Group and at suppliers. His the value chain. the value chain. impact the value chain. impact torically, investigations have already been carried out in isolated cases. Fraport is also ac torically, investigations have already been carried out in isolated cases. Fraport is also ac torically, investigations have already been carried out in isolated cases. Fraport is also ac torically, investigations have already been carried out in isolated cases. Fraport is also ac tive internationally in countries with a high risk of corruption. Occasional cases can be tive internationally in countries with a high risk of corruption. Occasional cases can be tive internationally in countries with a high risk of corruption. Occasional cases can be tive internationally in countries with a high risk of corruption. Occasional cases can be medium prevented by means of information and governance. In spite of various measures to pre prevented by means of information and governance. In spite of various measures to pre prevented by means of information and governance. In spite of various measures to pre prevented by means of information and governance. In spite of various measures to pre vent corruption, isolated cases with clear criminal intent cannot be prevented. vent corruption, isolated cases with clear criminal intent cannot be prevented. vent corruption, isolated cases with clear criminal intent cannot be prevented. vent corruption, isolated cases with clear criminal intent cannot be prevented.
ties report Cyber risks affect the Disclosure entire business model requirement G1, and have potential risk and opportuni impacts on the value ties report ties report	Cyber risks affect the gross increasing in Risk Cyber risks affect the Not specified since it is Cyber risks affect the entire business model the long term entire business model classified as a financial risk entire business model and have potential and have potential and have potential impacts on the value impacts on the value impacts on the value chain. chain. chain.	Cyber risks include cyberattacks, computer viruses, or hacker attacks that can cause seri Cyber risks include cyberattacks, computer viruses, or hacker attacks that can cause seri Cyber risks affect the Not specified since it is Risk Cyber risks affect the Risk Cyber risks affect the Risk Risk ous business interruption due to a severe IT system failure or substantial data loss. An in ous business interruption due to a severe IT system failure or substantial data loss. An in entire business model classified as a financial risk entire business model entire business model creased number of warnings from the German Federal Office for Information Security creased number of warnings from the German Federal Office for Information Security and have potential and have potential and have potential shows the rise in the threat situation. The strategy includes cyber insurance and exten shows the rise in the threat situation. The strategy includes cyber insurance and exten impacts on the value impacts on the value impacts on the value chain. chain. chain. chain.	Cyber risks include cyberattacks, computer viruses, or hacker attacks that can cause seri Cyber risks include cyberattacks, computer viruses, or hacker attacks that can cause seri Cyber risks affect the Risk Low since it is clas Cyber risks affect the Risk ous business interruption due to a severe IT system failure or substantial data loss. An in ous business interruption due to a severe IT system failure or substantial data loss. An in ous business interruption due to a severe IT system failure or substantial data loss. An in entire business model sified as a financial entire business model creased number of warnings from the German Federal Office for Information Security creased number of warnings from the German Federal Office for Information Security and have potential risk and have potential shows the rise in the threat situation. The strategy includes cyber insurance and exten rise in the threat situation. The strategy includes cyber insurance and exten impacts on the value impacts on the value chain. chain.	Cyber risks include cyberattacks, computer viruses, or hacker attacks that can cause seri Cyber risks include cyberattacks, computer viruses, or hacker attacks that can cause seri Cyber risks affect the Risk medium Cyber risks affect the Risk ous business interruption due to a severe IT system failure or substantial data loss. An in entire business model entire business model creased number of warnings from the German Federal Office for Information Security creased number of warnings from the German Federal Office for Information Security and have potential and have potential shows the rise in the threat situation. The strategy includes cyber insurance and exten shows the rise in the threat situation. The strategy includes cyber insurance and exten impacts on the value impacts on the value sive organizational/technical actions. sive organizational/technical actions. chain.	Cyber risks include cyberattacks, computer viruses, or hacker attacks that can cause seri Cyber risks include cyberattacks, computer viruses, or hacker attacks that can cause seri Cyber risks include cyberattacks, computer viruses, or hacker attacks that can cause seri Cyber risks include cyberattacks, computer viruses, or hacker attacks that can cause seri G1 – Business conduct Cyber risks affect the Cyber risks affect the Risk high Cyber risks affect the Risk ous business interruption due to a severe IT system failure or substantial data loss. An in ous business interruption due to a severe IT system failure or substantial data loss. An in ous business interruption due to a severe IT system failure or substantial data loss. An in ous business interruption due to a severe IT system failure or substantial data loss. An in entire business model entire business model entire business model creased number of warnings from the German Federal Office for Information Security creased number of warnings from the German Federal Office for Information Security creased number of warnings from the German Federal Office for Information Security creased number of warnings from the German Federal Office for Information Security and have potential and have potential and have potential shows the rise in the threat situation. The strategy includes cyber insurance and exten rise in the threat situation. The strategy includes cyber insurance and exten shows the rise in the threat situation. The strategy includes cyber insurance and exten shows the rise in the threat situation. The strategy includes cyber insurance and exten impacts on the value impacts on the value impacts on the value sive organizational/technical actions. sive organizational/technical actions. sive organizational/technical actions. chain. chain. chain.
Legal and compliance Disclosure risks have impacts on the requirement G1, business model and also risk and opportuni on the value chain, de ties report pending on the type of change to national and	Legal and compliance consistent over the Risk Legal and compliance Not specified since it is Legal and compliance risks have impacts on the long term risks have impacts on the classified as a financial risk risks have impacts on the business model and also business model and also business model and also on the value chain, de on the value chain, de on the value chain, de pending on the type of pending on the type of pending on the type of change to national and change to national and change to national and international laws and international laws and international laws and international laws and	Legal and compliance risks arise from changes in national and international laws Legal and compliance risks arise from changes in national and international laws Legal and compliance Not specified since it is Risk Legal and compliance Risk Legal and compliance Risk Risk and regulations, and violations of laws and regulations with a negative financial impact. and regulations, and violations of laws and regulations with a negative financial impact. risks have impacts on the risks have impacts on the classified as a financial risk risks have impacts on the risks have impacts on the business model and also business model and also business model and also changes in aviation law, the German Federal Police Act, planning and environmental law, changes in aviation law, the German Federal Police Act, planning and environmental law, on the value chain, de on the value chain, de on the value chain, de security-related regulations, general regulations under capital market law, antitrust law, security-related regulations, general regulations under capital market law, antitrust law, pending on the type of pending on the type of pending on the type of data protection law, and labor law as well as any legal restrictions under sanctions, cor data protection law, and labor law as well as any legal restrictions under sanctions, cor change to national and change to national and change to national and ruption, fraud, or financial manipulation, and antitrust violations. international laws and international laws and international laws and international laws and	Legal and compliance risks arise from changes in national and international laws Legal and compliance risks arise from changes in national and international laws Legal and compliance Risk Low since it is Legal and compliance Risk and regulations, and violations of laws and regulations with a negative financial impact. and regulations, and violations of laws and regulations with a negative financial impact. risks have impacts on the risks have impacts on the classified as a business model and also financial risk business model and also changes in aviation law, the German Federal Police Act, planning and environmental law, changes in aviation law, the German Federal Police Act, planning and environmental law, changes in aviation law, the German Federal Police Act, planning and environmental law, on the value chain, de on the value chain, de security-related regulations, general regulations under capital market law, antitrust law, security-related regulations, general regulations under capital market law, antitrust law, pending on the type of pending on the type of data protection law, and labor law as well as any legal restrictions under sanctions, cor data protection law, and labor law as well as any legal restrictions under sanctions, cor change to national and change to national and international laws and	Legal and compliance risks arise from changes in national and international laws Legal and compliance risks arise from changes in national and international laws Legal and compliance Risk high Legal and compliance Risk and regulations, and violations of laws and regulations with a negative financial impact. and regulations, and violations of laws and regulations with a negative financial impact. risks have impacts on the business model and also business model and also changes in aviation law, the German Federal Police Act, planning and environmental law, on the value chain, de on the value chain, de security-related regulations, general regulations under capital market law, antitrust law, security-related regulations, general regulations under capital market law, antitrust law, pending on the type of pending on the type of data protection law, and labor law as well as any legal restrictions under sanctions, cor data protection law, and labor law as well as any legal restrictions under sanctions, cor change to national and change to national and ruption, fraud, or financial manipulation, and antitrust violations. ruption, fraud, or financial manipulation, and antitrust violations. ruption, fraud, or financial manipulation, and antitrust violations. ruption, fraud, or financial manipulation, and antitrust violations. international laws and international laws and international laws and	Legal and compliance risks arise from changes in national and international laws Legal and compliance risks arise from changes in national and international laws Legal and compliance risks arise from changes in national and international laws G1 – Business conduct Legal and compliance Legal and compliance Risk medium Legal and compliance Risk and regulations, and violations of laws and regulations with a negative financial impact. and regulations, and violations of laws and regulations with a negative financial impact. and regulations, and violations of laws and regulations with a negative financial impact. and regulations, and violations of laws and regulations with a negative financial impact. risks have impacts on the risks have impacts on the risks have impacts on the Legal and compliance risks Legal and compliance risks business model and also For example, business model and also For example, business model and also For example, changes in aviation law, the German Federal Police Act, planning and environmental law, changes in aviation law, the German Federal Police Act, planning and environmental law, changes in aviation law, the German Federal Police Act, planning and environmental law, changes in aviation law, the German Federal Police Act, planning and environmental law, on the value chain, de on the value chain, de on the value chain, de security-related regulations, general regulations under capital market law, antitrust law, security-related regulations, general regulations under capital market law, antitrust law, security-related regulations, general regulations under capital market law, antitrust law, security-related regulations, general regulations under capital market law, antitrust law, pending on the type of pending on the type of pending on the type of data protection law, and labor law as well as any legal restrictions under sanctions, cor data protection law, and labor law as well as any legal restrictions under sanctions, cor data protection law, and labor law as well as any legal restrictions under sanctions, cor data protection law, and labor law as well as any legal restrictions under sanctions, cor change to national and change to national and change to national and ruption, fraud, or financial manipulation, and antitrust violations. ruption, fraud, or financial manipulation, and antitrust violations. ruption, fraud, or financial manipulation, and antitrust violations. international laws and international laws and

In principle, no fundamental differences were found in the assessment of the material impacts, risks, and opportunities between Fraport AG and the Group. The positive impact of "strong employee participation" is only limited to the site in Germany due to the locally differing legal provisions.

The transformation of business and society into more sustainability is expected to intensify the innovation potential for new technologies and ways of working, such as automation and digitalization. Fraport is continuously looking for ways to mitigate its negative impacts, increase its positive impacts, compensate for risks, and thus refine its strategy and business model with the help of these new technologies and ways of working. In addition, Fraport will open up new business opportunities where possible with products and services that make a positive contribution to greater sustainability.

Further explanations on the material impacts, risks, and opportunities are contained in the respective topic standards.

Where actions have already been defined as a response to the current and expected impact of the material impacts, risks, and opportunities, a more detailed description can be found in the respective topic standard.

The material opportunities and risks arising from the IRO analysis and the associated potential impacts on the financial position, financial performance, and cash flows can be found in the assessments in the "Risk and Opportunities Report" section if the opportunity and risk thresholds are exceeded.

The material opportunities and risks from the IRO analysis are largely taken up in the two strategic directions of "growth & sustainability" and "top employer." As explained in disclosure requirement SBM the strategic directions are underpinned by targeted strategic projects. They are used, among other things, to exploit the opportunities resulting from the IRO analysis for Fraport and to reduce the identified risks.

The topics "noise immissions to residents" and "economic factor," which are reported in the topic standard S3 Affected communities, and the cyber risks, which are explained in the context of G1 Business conduct, are provided by the undertaking as additional undertaking-specific information.

Impact, Risk and Opportunity Management

Disclosure Requirement IRO-1 – Description of the Processes to Identify and Assess Material Impacts, Risks, and Opportunities

Materiality Assessment Process

The analysis of double materiality was carried out for the Fraport Group in 2024. The target was to identify and confirm the material actual and potential positive and negative impacts, risks, and opportunities (IROs). They served as the basis for the Group's decision on the substantial sustainability issues, which led to a double materiality assessment (DMA). The requirements of the ESRS were observed.

The DMA procedure was carried out for the first time, so there are no historical comparative values. The Executive Board has commissioned the Corporate Development and Sustainability department to define a process for the continuous updating of the DMA. Until the next review, the impacts, risks, and opportunities should be continually adjusted to business changes to ensure relevance and accuracy.

The process began with a comprehensive inventory of the potential issues as a long list that may be of importance to Fraport and its stakeholders to identify relevant sustainability issues in accordance with ESRS 1, paragraph AR16. In addition to the requirements of the ESRS, other sustainability matters such as the UN's Sustainable Development Goals were taken into account in the collection of topics. The impacts on human rights was also taken into account. The process mentioned above was led by an expert committee.

Composition of the Expert Committee

The materiality assessment was carried out by an expert committee composed of members of various specialist departments and representatives of the Group companies. The value chain of the undertaking was represented in the expert committee. The committee bundled individual specialist knowledge from different sections of the undertaking with the target of a comprehensive and well-founded analysis.

Taking into account the business model and the scope of the consolidation as described in SBM-3, specific activities within the organization and business relationships in the upstream and downstream value chain were analyzed. This includes the actors in the value chain and the allocation of their impacts on the undertaking and the environment in the Group. Geographical conditions and other factors that could lead to an increased risk of negative impacts were also considered.

During the discussions, the Frankfurt site served as a model for the evaluation of the topics. The results were checked for plausibility by representatives of the Group companies for the entire Group and supplemented if necessary.

In the context of the expert workshops, the impacts of both the undertaking's own activities and the business relationships within the Group were qualitatively evaluated. This provided a differentiated view of the direct and indirect impacts of the undertaking.

Consultation with Stakeholders and Internal/external Experts

Stakeholder involvement was determined using an web-based stakeholder dialog. 21 stakeholder groups, including employees and their representatives, passengers, airlines, suppliers and service providers, residents, shareholders, authorities, analysts, media, banks, NGOs, and associations have been grouped into four categories: employees, customers and business partners, owners, and society. The online survey was conducted in eight languages Group-wide and communicated via various channels (Internet, Intranet, LinkedIn, X (Twitter), press release, passenger interviews, letters to officials, emails to personal contacts, and much more). The results of the consultation were included in the discussions and evaluations within the subsequent workshops.

In the course of the workshops, the concerns of stakeholders were also represented by internal experts. The participants came from the respective departments of Fraport AG and have in-depth knowledge of their sustainability topics in order to assess the IROs and to contribute to taking into account the undertaking's due diligence obligations. During the discussions, the Frankfurt site once again served as a model for the evaluation of the topics. The results were checked accordingly for plausibility by representatives of the Group companies for the entire Group and supplemented if necessary.

All sustainability issues were reviewed with the designated experts, with the focus on identifying IROs at the level of the undertaking. Financial materiality was also assessed separately with the involvement of the Executive Board. The process for determining the material impacts, risks, and opportunities was based on a combination of qualitative and quantitative methods, taking into account both the short- and long-term impacts on the undertaking and its stakeholders.

Decision-making During the Workshop

The evaluation of the impacts, risks, and opportunities was made within the expert group during the workshops. This process was based on an intensive discussion and analysis of the various aspects.

The decision-making process was based on the information gathered in the workshop, using a combination of qualitative and quantitative approaches. External studies were not explicitly used in the workshops during the discussion. After the initial identification of impacts, risks, and opportunities, a number of topics with similar content were summarized. All the IROs were evaluated in detail.

Identification and Evaluation of the Impacts, Risks, and Opportunities

All actual or potential positive or negative impacts, risks, and opportunities that the undertaking has on people and the environment, including its own business activities and the upstream and downstream value chain, were discussed. The impacts were then assessed in terms of scale, scope, and recoverability.

In terms of scale, the size or intensity of an impact was evaluated on a scale of 1 to 4 (minimum; medium; high; very high). Where comparison with a similar industry was possible (for example, with other undertakings in the transportation and logistics sector), they were used as a benchmark. The scope was also evaluated on a scale of 1 to 4 based on the range or spectrum of impact. The immutability, which was evaluated only for negative impacts, is defined as the ability to undo or mitigate the impact. It was also classified on the same scale.

For the risks and opportunities, the assessment was derived from the procedure in risk management. The gross assessment was carried out. The risks and opportunities were classified on a scale of 1 to 4 (minimal; noticeable; impact on business activities; high losses) with regard to the scale of the monetary and media impact. The probability was evaluated in gradations of 0.2 in increments of 0.2 to 0.8 (unlikely; possible; likely; very likely). A net assessment was also carried out in accordance with risk management.

The following short, medium, and long-term time horizons have been defined for the assessment of the material impacts, risks, and opportunities: The short-term view covers one to two years, the medium-term is a period of two to five years, and the longterm is a time horizon of five to ten years. The time periods defined in this way differ in the short-term view from the time horizons according to ESRS 1. This is related to the continuity and consistency with the time taken into account in the risk and opportunity report. Longer periods were considered when assessing climate risks. For more information, see the disclosure requirement ESRS E1 Climate Change.

Fraport attaches great importance to respect for and promotion of human rights along the entire value chain. As part of the ESRS, human rights aspects are considered and evaluated separately in order to ensure that they are an integral part of the sustainability strategy. The material impacts, risks, and opportunities in the area of human rights will always be included in the calculations as actual IROs. This ensures precise recognition and consideration of human rights issues in the reporting and contributes to transparent and responsible corporate governance.

Determination of the Threshold Value and Prioritization

The threshold value and the determination of the materiality for reporting correspond to the requirements in risk management based on probabilities and final evaluation (see report matrix in the management report, section: Risk and Opportunities Report), provided that ESRS rules do not conflict with them.

All issues that exceeded the threshold were highlighted and discussed in detail in the report in accordance with the ESRS.

Input Parameters Used

The data and information for the analysis come directly from the specialist departments. The practical data sources provided a realistic and relevant basis for assessing the identified risks and opportunities. Examples of such data sources include information on compliance with environmental pollutant thresholds, supply chain facts provided by Purchasing, and other specific information from various business units. Finally, the assessments of the risks in the risk inventory of Fraport were used by means of the risk reports.

Application in the Undertaking

Fraport AG has used the above procedure to create a sound basis for determining the disclosures in its sustainability statement. In the future, the results of the procedure will be regularly reviewed to ensure that the evaluations are accurate and up-to-date.

As described above, the Frankfurt site served as an example of a model for the evaluation of the topics. The results were checked accordingly for plausibility by representatives of the Group companies for the entire Group and supplemented if necessary.

The risk and opportunity management procedure is explained in detail in the "Risk and Opportunities Report" section. The thresholds value for the evaluation and classification of sustainability risks, which could have financial impacts on the Fraport Group, are applied in the same way as for other risk types.

Final Evaluation

From the individual assessments for scale, scope, and immutability, the maximum value is used for the overall assessment of the severity of each positive or negative impact. For the topic standards, individual disclosure requirements were assessed for their materiality in accordance with the materiality assessment process and the information to be reported was selected accordingly. If the materiality was not confirmed, datapoints were omitted.

Sustainability issues and sub-topics that have not exceeded the specified materiality threshold were excluded from the review. This affected the following ESRS: E3 Water and marine resources, E4 Biodiversity and ecosystems, E5 Resource use and circular economy, S2 Workers in the value chain, S4 Consumers and end users.

In the course of the DMA, the experts involved did not report any threat to the undertaking's strategy or business models in the short term.

The material impacts, risks, and opportunities were adopted in November 2024. In this context, the Executive Board commissioned the specialist departments and Group companies at the end of 2024 to create a concept for management and action development in accordance with the requirements of the ESRS. This is to start in 2025. The development of actions and implementation of the actions are considered a continuous process.

A comprehensive analysis of the resilience of the undertaking's strategy and business model with regard to its ability to cope with its major impacts and risks in the medium and long term and to exploit its major opportunities is only possible after the policy development and development of actions have been completed.

The following diagram shows the result of the DMA:

Fraport Annual Report 2024 Group Management Report / Economic Report 91 To Our Shareholders Combined Management Report Consolidated Financials Statements Group Notes Further Information

	Potential material
	Social / Evironment impact	Business effect	Triggered ESRS standard
Positive impact / Opportunity	· Inclusive employer · Strong employee involvement		\$1 Own workforce
	· Economic factor		\$3 Affected communities
Negative impact / Risk	· Impact on occupational health and safety · Lack of development paths		\$1 Own workforce
	· Noise immissions · Terror attacks		\$3 Affected communities
	· Greenhouse gas emmissions · Energy consumption	· Extreme weather conditions	E1 Climate change
	Air pollutants		E2 Pollution
	· Corruption	· Cyber risks · Compliance risks	G1 Business conduct

Role of Sustainability and Risk Management

Sustainability and risk management play a central role in the development and implementation of control procedures. These departments are responsible for consolidating the workshop results across all identified topics. The assessment scales for risks and opportunities have been adopted from the existing risk management. The impact assessment was based on the existing scale.

An analysis of the value chain in relation to airlines and their main market, competitive and regulatory risks as well as operational risks as defined by the ESRS will be carried out in 2025.

Appendix B – List of datapoints in cross-cutting and topical standards that derive from other EU legislation

Disclosure Requirement and related datapoint	SFDR reference (1)		Pillar reference (2) Benchmark Regulation	EU Climate Law refe
			reference (3)	rence (4)

ESRS 2 GOV-1	Indicator number 13 of		Commission Delegated
Board's gender diversity paragraph 21 (d)	Table #1 of Annex 1		Regulation (EU) 2020/1816, Annex II
ESRS 2 GOV-1			Delegated Regulation
Percentage of board members who are independent paragraph 21 (e)			(EU) 2020/1816,
			Annex II
ESRS 2 GOV-4	Indicator number 10
Statement on due diligence paragraph 30	Table #3 of Annex 1
ESRS 2 SBM-1	Indicators number 4	Article 449a Regulation	Delegated Regulation
Involvement in activities related to fossil fuel activities paragraph 40 (d) i	Table #1 of Annex 1	(EU) No 575/2013; Commission Implement	(EU) 2020/1816, Annex II
		ing Regulation (EU)
		2022/245328Table 1:
		Qualitative information
		on Environmental risk
		and Table 2: Qualitative information on Social
		risk
ESRS 2 SBM-1	Indicator number 9		Delegated Regulation
Involvement in activities related to chemical production paragraph 40 (d) ii	Table #2 of Annex 1		(EU) 2020/1816,
			Annex II
ESRS 2 SBM-1	Indicator number 14		Delegated Regulation
Involvement in activities related to controversial weapons paragraph 40 (d) iii	Table #1 of Annex 1		(EU) 2020/1818, Article 12(1) Delegated
			Regulation (EU)
			2020/1816, Annex II
ESRS 2 SBM-1			Delegated Regulation
Involvement in activities related to cultivation and production			(EU) 2020/1818,
of tobacco paragraph 40 (d) iv			Article 12(1) Delegated Regulation (EU)
			2020/1816, Annex II
ESRS E1-1				Regulation (EU)
Transition plan to reach climate neutrality by 2050 paragraph 14				2021/1119, Article 2(1)
ESRS E1-1		Article 449a	Delegated Regulation
Undertakings excluded from Paris-aligned Benchmarks paragraph 16 (g)		Regulation (EU) No 575/2013; Commission	(EU) 2020/1818, Article12.1 (d) to (g),
		Implementing Regula	and Article 12.2
		tion (EU) 2022/2453
		Template 1: Banking
		book-Climate Change transition risk: Credit
		quality of exposures by
		sector, emissions and
		residual maturity
ESRS E1-4	Indicator number 4	Article 449a	Delegated Regulation
GHG emission reduction targets paragraph 34	Table #2 of Annex 1	Regulation (EU) No 575/2013; Commission	(EU) 2020/1818, Article 6
		Implementing Regula
		tion (EU) 2022/2453
		Template 3: Banking
		book – Climate change transition risk:
		alignment metrics
ESRS E1-5	Indicator number 5
Energy consumption from fossil sources disaggregated by sources	Table #1 and Indicator
(only high climate impact sectors) paragraph 38	n. 5 Table #2 of Annex 1
ESRS E1-5 Energy consumption and mix paragraph 37	Indicator number 5 Table #1 of Annex 1
ESRS E1-5	Indicator number 6
Energy intensity associated with activities in high climate impact sectors	Table #1 of Annex 1
paragraphs 40 to 43
ESRS E1-6	Indicators number 1	Article 449a; Regulation	Delegated Regulation
Gross Scope 1, 2, 3 and Total GHG emissions paragraph 44	and 2 Table #1 of	(EU) No 575/2013;	(EU) 2020/1818,
	Annex 1	Commission Implement ing Regulation (EU)	Article 5(1), 6 and 8(1)
		2022/2453 Template 1:
		Banking book – Climate
		change transition risk:
		Credit quality of expo sures by sector, emis
		sions and residual
		maturity

Fraport Annual Report 2024 Group Management Report / Economic Report 93 To Our Shareholders Combined Management Report Consolidated Financials Statements Group Notes Further Information

Appendix B – List of datapoints in cross-cutting and topical standards that derive from other EU legislation

Disclosure Requirement and related datapoint	SFDR reference (1)		Pillar reference (2) Benchmark Regulation reference (3)	EU Climate Law refe rence (4)
ESRS E1-6 Gross GHG emissions intensity paragraphs 53 to 55	Indicators number 3 Table #1 of Annex 1	Article 449a Regulation (EU) No 575/2013; Com mission Implementing Regulation (EU) 2022/2453 Template 3: Banking book – Climate change transition risk: alignment metrics	Delegated Regulation (EU) 2020/1818, Article 8(1)
ESRS E1-7 GHG removals and carbon credits paragraph 56				Regulation (EU) 2021/1119, Article 2(1)
ESRS E1-9 Exposure of the benchmark portfolio to climate-related physical risks paragraph 66			Delegated Regulation (EU) 2020/1818, Annex II Delegated Reg ulation (EU) 2020/1816, Annex II
ESRS E1-9 Disaggregation of monetary amounts by acute and chronic physical risk paragraph 66 (a) ESRS E1-9 Location of significant assets at material physical risk paragraph 66 (c).		Article 449a Regulation (EU) No 575/2013; Com mission Implementing Regulation (EU) 2022/2453 paragraphs 46 and 47; Template 5: Banking book - Climate change physical risk: Exposures subject to physical risk.
ESRS E1-9 Breakdown of the carrying value of its real estate assets by energy-efficiency classes paragraph 67 (c).		Article 449a Regulation (EU) No 575/2013; Com mission Implementing Regulation (EU) 2022/2453 paragraph 34; Template 2:Banking book -Climate change transition risk: Loans secured by immovable property - Energy effi ciency of the collateral
ESRS E1-9 Degree of exposure of the portfolio to climate- related opportunities paragraph 69			Delegated Regulation (EU) 2020/1818, Annex II
ESRS 2- SBM3 - S1 Risk of incidents of forced labour paragraph 14 (f) ESRS 2- SBM3 - S1 Risk of incidents of child labour paragraph 14 (g) ESRS S1-1 Human rights policy commitments paragraph 20	Indicator number 13 Table #3 of Annex I Indicator number 12 Table #3 of Annex I Indicator number 9 Table #3 and Indicator number 11 Table #1 of Annex I
ESRS S1-1 Due diligence policies on issues addressed by the fundamental International Labour Organization Conventions 1 to 8, paragraph 21			Delegated Regulation (EU) 2020/1816, Annex II
ESRS S1-1 processes and measures for preventing trafficking in human beings paragraph 22	Indicator number 11 Table #3 of Annex I
ESRS S1-1	Indicator number 1
workplace accident prevention policy or management system paragraph 23 ESRS S1-3	Table #3 of Annex I Indicator number 5
grievance/complaints handling mechanisms paragraph 32 (c)	Table #3 of Annex I
ESRS S1-14 Number of fatalities and number and rate of work-related accidents paragraph 88 (b) and (c)	Indicator number 2 Table #3 of Annex I		Delegated Regulation (EU) 2020/1816, Annex II
ESRS S1-14 Number of days lost to injuries, accidents, fatalities or illness paragraph 88 (e)	Indicator number 3 Table #3 of Annex I
ESRS S1-16 Unadjusted gender pay gap paragraph 97 (a)	Indicator number 12 Table #1 of Annex I		Delegated Regulation (EU) 2020/1816, Annex II
ESRS S1-16 Excessive CEO pay ratio paragraph 97 (b)	Indicator number 8 Table #3 of Annex I
ESRS S1-17 Incidents of discrimination paragraph 103 (a)	Indicator number 7 Table #3 of Annex I

Appendix B – List of datapoints in cross-cutting and topical standards that derive from other EU legislation

Disclosure Requirement and related datapoint	SFDR reference (1)	Pillar reference (2) Benchmark Regulation reference (3)
ESRS S1-17 Non-respect of UNGPs on Business and Human Rights and OECD paragraph 104 (a)	Indicator number 10 Table #1 and Indicator	Delegated Regulation (EU) 2020/1816,
	n. 14 Table #3 of Annex I	Annex II Delegated
		Regulation (EU)
		2020/1818 Art 12 (1)
ESRS S3-1	Indicator number 9
Human rights policy commitments paragraph 16	Table #3 of Annex 1 and
	Indicator number 11
	Table #1 of Annex 1
ESRS S3-1	Indicator number 10	Delegated Regulation
non-respect of UNGPs on Business and Human Rights, ILO principles or and	Table #1 Annex 1	(EU) 2020/1816,
OECD guidelines		Annex II Delegated
paragraph 17		Regulation (EU)
		2020/1818, Art 12 (1)
ESRS S3-4	Indicator number 14
Human rights issues and incidents paragraph 36	Table #3 of Annex 1
ESRS G1-1	Indicator number 15
United Nations Convention against Corruption paragraph 10 (b)	Table #3 of Annex 1
ESRS G1-1	Indicator number 6
Protection of whistle- blowers	Table #3 of Annex 1
paragraph 10 (d)
ESRS G1-4	Indicator number 17	Delegated Regulation
Fines for violation of anti-corruption and anti-bribery laws paragraph 24 (a)	Table #3 of Annex 1	(EU) 2020/1816,
		Annex II
ESRS G1-4	Indicator number 16
Standards of anti- corruption and anti- bribery	Table #3 of Annex 1
paragraph 24 (b)

(1) Regulation (EU) 2019/2088 of the European Parliament and of the Council of 27 November 2019 on sustainability-related disclosures in the financial services sector (OJ L 317, 9.12.2019, p. 1).

(2) Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and amending Regulation (EU) No 648/2012 (Capital Requirements Regulation) (OJ L 176, 27.6.2013, p. 1).

(3) Regulation (EU) 2016/1011 of the European Parliament and of the Council of 8 June 2016 on indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds and amending Directives 2008/48/EC and 2014/17/EU and Regulation (EU) No. 596/2014 (OJ L 171, 29.6.2016, p. 1).

(4) Regulation (EU) 2021/1119 of the European Parliament and of the Council of 30 June 2021 establishing the framework for achieving climate neutrality and amending Regulations (EC) No 401/2009 and (EU) 2018/1999 ('European Climate Law') (OJ L 243, 9.7.2021, p. 1).

(5) Commission Delegated Regulation (EU) 2020/1816 of 17 July 2020 supplementing Regulation (EU) 2016/1011 of the European Parliament and of the Council as regards the explanation in the benchmark statement of how environmental, social and governance factors are reflected in each benchmark provided and published (OJ L 406, 3.12.2020, p. 1).

(6) Commission Implementing Regulation (EU) 2022/2453 of 30 November 2022 amending the implementing technical standards laid down in Implementing Regulation (EU) 2021/637 as regards the disclosure of environmental, social and governance risks (OJ L 324,19.12.2022, p. 1.).

(7) Commission Delegated Regulation (EU) 2020/1818 of 17 July 2020 supplementing Regulation (EU) 2016/1011 of the European Parliament and of the Council as regards minimum standards for EU Climate Transition Benchmarks and EU Paris-aligned Benchmarks (OJ L 406, 3.12.2020, p. 17).

Environmental Information

Information on the EU Taxonomy Regulation

Background Information

As part of the European Green Deal to achieve climate neutrality in the European Union by 2050, Regulation (EU) 2020/852 of the European Parliament and of the Council of 18 June 2020 (hereinafter referred to as the EU Taxonomy) was adopted as an instrument for the classification of ecologically sustainable economic activities. The EU Taxonomy is a key element of the European Commission's action plan to redirect capital toward a more sustainable economy. Through the Regulation, pre-defined economic activities are uniformly assessed with regard to their contribution to the European Commission's six environmental objectives – climate change mitigation (CCM), climate change adaptation (CCA), water and marine resources (WTR), circular economy (CE), pollution prevention and control (PPC), and biodiversity and ecosystems (BIO). One target is to achieve better comparability between undertakings.

This section presents the share of Group revenue, capital expenditure (Capex), and operating expenditure (Opex) for the 2024 reporting period related to the six environmental objectives of the European Commission that are taxonomy-eligible or taxonomyaligned in accordance with Article 8 of the Taxonomy Regulation and Article 10 of the delegated act. At Fraport the taxonomyeligible or taxonomy-aligned economic activities contribute to the environmental objectives climate change mitigation and circular economy.

Definitions

A taxonomy-eligible economic activity means an economic activity that is described in the current delegated acts on the six environmental objectives, irrespective of whether that economic activity meets one or all of the technical screening criteria laid out in those delegated acts. Conversely, all economic activities not described in the delegated acts are not taxonomy-eligible.

A taxonomy-aligned economic activity means a taxonomy-eligible economic activity that meets the following requirements:

The economic activity contributes clearly to one or more of the environmental objectives (substantial contribution).
It does not significantly harm any of the other environmental objectives (Do No Significant Harm, DNSH).
It is performed in keeping with the minimum safeguards (minimum safeguards).

Environmental ob jective	Economic acitivity	Activity at Fraport	Location
Climate change mitigation (CCM)	4.1 Electricity generation using solar photovoltaic technology	Photovoltaic systems	Frankfurt, Bulgaria
Climate change mitigation (CCM)	6.3 Urban and suburban transport, road passenger transport	Passenger Transport System (PTS)	Frankfurt
Climate change mitigation (CCM)	6.17 Low carbon airport infrastructure	400 Hz systems, PCA systems, Electric charging stations for electrical vehicles in airport operations	Frankfurt, Slovenija, Bulgaria, Greece
Climate change mitigation (CCM)	6.20 Air transport ground handling operations	Baggage conveyor system, electrically operated ground vehicles	Frankfurt, Slovenija, Bulgaria
Climate change mitigation (CCM)	7.3 Installation, maintenance and repair of energy efficiency equipment	LEDs	Frankfurt, Greece, Brasil
Climate change mitigation (CCM)	7.5 Installation, maintenance and repair of instruments and devices for measuring, regulation and controlling energy performance of buildings	Technical centers, smart meters, facade and roofing elements with a solar shading or solar control function	Frankfurt
Climate change mitigation (CCM)	7.6 Installation, maintenance and repair of renewable energy technologies	Photovoltaic systems on buildings	Frankfurt
Climate change mitigation (CCM)	7.7 Acquisition and ownership of buildings 1)	Construction, renovation, and rental of buildings	Group
Circular Economy (CE)	3.4 Maintenance of roads and motorways	Maintenance of aerodrome runways, taxiways and aprons Frankfurt, Greece, Brasil, Peru,	Slovenija, Bulgaria

Overview taxonomy-eligible economic activities in the Fraport Group

1) Economic activities 7.1 and 7.2 have been reclassified to economic activity 7.7. An explanation is given in the section "EU Taxonomy Performance Indicators."

Taxonomy-aligned Business Activities in the Fraport Group

After an examination of the substantial contribution, the DNSH criteria, and minimum safeguards requirements, the following taxonomy-aligned economic activities remain:

4.1 Electricity generation using solar photovoltaic technology
6.3 Urban and suburban transport, road passenger transport
6.17 Low carbon airport infrastructure
6.20 Air transport ground handling operations
7.5 Installation, maintenance, and repair of instruments and devices for measuring, regulating and controlling energy performance of buildings
7.6 Installation, maintenance and repair of renewable energy technologies
7.7 Acquisition and ownership of buildings

For the first time, economic activity 6.20 was taxonomy-aligned for the 2024 fiscal year as only taxonomy eligibility had to be reported in the previous year because of an introduction regulation. Economic activity 7.6 was new in the 2024 reporting year because of the installation of photovoltaic systems on the roofs of the parking garage and the main terminal building of Terminal 3 in Frankfurt and is also taxonomy-aligned.

Assessment of Taxonomy Alignment

Substantial Contribution to the Climate Protection Environmental Objective

The following explains the extent to which the economic activities mentioned meet the criteria for the substantial contribution.

The free-standing photovoltaic systems, which are classified under economic activity "4.1 Electricity generation using solar photovoltaic technology," generate electricity by means of photovoltaic technology. They are not connected to an existing building and therefore differ from the activity "7.6 Installation, maintenance and repair of renewable energy technologies." This includes the photovoltaic system on the Runway West in Frankfurt. In addition, a photovoltaic system was built both at Varna Airport and Burgas Airport in Bulgaria in 2024.
The passenger transport system at Frankfurt Airport comes under the economic activity "6.3 Urban and suburban transport, road passenger transport." It makes a significant contribution according to criterion (a) as it does not cause any direct CO2 emissions. This also applies to capital expenditure in the passenger transport system in connection with the expansion of Terminal 3.
According to letter (b), economic activity "6.17 Low carbon airport infrastructure" includes 400 Hz and PCA systems that supply aircraft with ground power and preconditioned air. In addition electrical charging stations for the airport's own operations are classified under letter (c). In this context, a bus charging depot for electric buses was set up in Frankfurt as part of the "ResSkaLA@FRA" project, and special charging devices were installed as part of the "Fast Charging 4FRA"

project, which are to be used by Lufthansa LEOS, the ground service provider of Lufthansa, for battery-electric aircraft tractors. In Greece, a total of 40 charging stations have been installed at 14 airports to charge electric ground vehicles. In addition, 400 Hz and PCA systems were purchased in Frankfurt, Slovenia, and Bulgaria.

The electrically operated baggage conveyor system in Frankfurt falls under letter c) of the economic activity "6.20 Air transport ground handling operations" and do not cause direct CO2 emissions. In addition, this economic activity concerns electric ground vehicles at the Frankfurt, Slovenia, and Bulgaria sites of letters (a), (b), and (c).
The exchange and modernization of technical centers (mainly in the existing Terminals 1 and 2 in Frankfurt) come under the economic activity "7.5 Installation, maintenance, and repair of instruments and devices for measuring, regulating and controlling energy performance of buildings." The substantial contribution is met by individual action (b) "Installation, maintenance, and repair of building automation and control systems, building energy management systems, lighting control systems and energy management systems." The installation of smart meters also falls under economic activity 7.5 letter (c), and the installation of facade and roofing elements with a solar shading or solar control function and green roofs in Terminal 3 falls under letter (d).
The installation of photovoltaic systems on the roofs of the parking garage at Terminal 3 and of the terminal main building itself falls under the economic activity "7.6 Installation, maintenance and repair of renewable energy technologies" according to letter (a), as these are photovoltaic systems. These systems are primarily used to supply the respective buildings and are therefore directly connected to them. In contrast to economic activity 4.1, they are a permanently integrated part of the building.
The operation of eight terminal buildings of Fraport Greece is classified under the economic activity "7.7 Acquisition and ownership of buildings." The substantial contribution is fulfilled since the terminal buildings in question are among the top 15% of the national building stock in Greece in terms of energy efficiency. In addition, they are operated efficiently as large non-residential buildings by monitoring and evaluating energy efficiency.

No Significant Harm to the other Environmental Objectives – DNSH criteria

Avoiding significant harm to the environmental objective 2) Climate change adaptation is taken into consideration for all relevant economic activities through a climate risk and vulnerability assessment in accordance with Appendix A of Annex I on climate protection, in which the criteria for and scope of this type of analysis are defined. Various chronic and acute climate risks, which must be assessed for the sites where taxonomy-aligned activities are performed, are also specified.

To identify and analyze climate-related physical climate risks, Fraport uses the site-related climate risk data provided by Münchener Rückversicherungs-Gesellschaft AG from the "Location Risk Intelligence" analysis tool and internal workshops based on this. The scientific basis of the data is based on the IPCC emission scenarios SSP1-/RCP2.6, SSP2-/RCP4.5, SSP3-/RCP7.0, and SSP5-/RCP8.5 for the periods 2024, 2030, 2040, 2050, and 2100. For the analysis of the physical climate risks, Fraport considers only the SSP5-8.5 scenario, also known as "taking the highway." This scenario assumes strong economic growth and intensive use of fossil fuels and predicts a rise in the global average temperature of 4.4°C by 2100.

All the climate hazards contained in Table A of Commission Delegated Regulation (EU) 2021/2139 that can be evaluated were considered. The climate risks of soil degradation and solar fluctuation are not covered by the analysis tool and were therefore analyzed and ruled out in a subsequent assessment as climate risks at the relevant sites.

The Frankfurt sites and the international operator concessions Fraport Greece, Fraport Slovenia, and Fraport Bulgaria were examined for the 2024 fiscal year. For the Frankfurt site and Fraport Slovenia, 2100 was selected as the time projection. For Fraport Greece and Fraport Bulgaria, however, a time projection was made up to the year 2050, which corresponds approximately to the end of the agreed-upon concession period. The evaluation takes into account physical climate risks that are classified as "high" or "very high" in the data scoring. No indications of material climate risks with regard to the economic activities at the sites under consideration were found. Consequently, no adaptation actions are taken or planned specifically for climate risks.

In the current version of the EU Taxonomy Regulation, it has not been defined how often the climate risk analysis needs to be updated. No annual update is carried out as time periods up to 2100 are covered in the projection scenarios. If extraordinary circumstances or substantial innovations should occur, an ad-hoc update will be executed. Regardless of the updating of the assessment, the contents of the climate risk analyses are revised in every set of annual financial statements, for example to add new aligned economic activities and adaptation actions.

The criteria for determining whether environmental target 3) Water and marine resources is affected are relevant to economic activities "6.17 Low carbon airport infrastructure," and "6.20 Air transport ground handling operations." The environmental impact assessments required for this purpose as well as other assessments have been approved.

The criteria for determining whether environmental target 4) Circular economy is affected are relevant to the economic activities "4.1 Electricity generation using solar photovoltaic technology," "6.3. Urban and suburban transport, road passenger transport," "6.17 Low carbon airport infrastructure," and "6.20. Air transport ground handling operations." Fraport is obligated to comply with the required waste management by European and German waste legislation, in particular in accordance with Section 6 of the German Product Recycling and Waste Management Act and the associated waste hierarchy. The relevant national and European legislation also applies in Bulgaria, Slovenia, and Greece.

The criteria for determining whether environmental target 5) Pollution is affected are relevant to the economic activities "6.3 Urban and suburban transport, road passenger transport," "6.17 Low carbon airport infrastructure," and "6.20 Air transport ground handling operations." The criteria for the passenger transport system under economic activity 6.3 are irrelevant since they relate exclusively to road vehicles of class M and since the passenger transport system does not fall under this class. For the remaining economic activities, no substantial noise, vibration, dust, and pollutant emissions are caused during construction and maintenance as the actions are small and of a limited scope. The work requires only minimal intervention and is carried out in compliance with national laws in Germany, Greece, Slovenia, and Bulgaria, such as the German Noise and Vibration Occupational Health and Safety Regulation and other general occupational health and safety regulations. Annex C, which is relevant to economic activity 6.20, contains technical evaluation criteria that are relevant and must be complied with only if the economic activity corresponds to the elements described. However, since the use of the system does not involve the production, placing on the market, or use of the chemicals or other substances concerned, the technical evaluation criteria are not applicable here.

The criteria for determining whether environmental target 6) Biodiversity and ecosystems is affected are relevant to economic activities "4.1 Electricity generation using solar photovoltaic technology" and "6.17 Low carbon airport infrastructure." These criteria are essentially based on environmental impact assessments and respect for biodiversity-sensitive areas. The environmental impact assessments required for this purpose have been approved and further site inspections have been completed.

No DNSH criteria are defined for environmental targets 3) to 6) for economic activities "7.5 Installation, maintenance, and repair of instruments and devices for measuring, regulating and controlling energy performance of buildings" and "7.6 Installation, maintenance and repair of renewable energy technologies."

Fulfillment of Minimum Safeguards Measures

As part of the minimum safeguards, various requirements are made regarding the implementation of procedures, which are based, among other things, on the OECD Guidelines for Multinational Enterprises, and the UN Guiding Principles on Business and Human Rights as well as other regulatory initiatives. The fulfillment of the required minimum safeguards is a prerequisite for classifying an economic activity as ecologically sustainable and thus taxonomy-aligned. To implement and ensure minimum safeguards, Fraport has aligned itself with the Final Report on Minimum Safeguards from the Platform on Sustainable Finance of October 11, 2022. The main focus of this report was on human rights, corruption and bribery, taxation, and fair competition.

Fraport Annual Report 2024 Group Management Report / Economic Report 99 To Our Shareholders Combined Management Report Consolidated Financials Statements Group Notes Further Information

In assessing compliance with the minimum safeguards, we examined whether adequate processes were implemented for each of the above topics to avoid negative impacts. Furthermore, the results of the respective measures taken are examined on an ongoing basis to determine whether the measures taken are effective in preventing negative impacts. The assessment showed that all criteria were met.

For the actions that Fraport has implemented in the areas of human rights and corruption & bribery, please refer to the information about the disclosure requirements for ESRS S1 Own workforce, ESRS S3 Affected communities, and G1 Business conduct.

In the thematic field of "Taxation", Fraport is subject to the country-specific tax laws and regulations, the implementation of and compliance with which is monitored and ensured by the Tax department and external and internal audits. Regular compliance risk analyses and employee training are carried out in the areas of antitrust and competition law.

EU Taxonomy Performance Indicators

Starting in the 2024 fiscal year, economic activities "7.1 Construction of new buildings" and "7.2 Renovation of existing buildings" will be reclassified to economic activity "7.7 Acquisition and ownership of buildings." This conversion is carried out in accordance with the requirements of the EU Taxonomy in order to ensure a more appropriate allocation of economic activities in the real estate sector. No figures or the underlying accounting logic are changed; only the allocation of the activities is adjusted. The adjustment applies to all performance indicators.

To avoid any double counting when allocating the revenue and Capex and Opex KPIs in the numerator across the economic activities, a clear and unambiguous allocation method has been implemented that ensures that each economic activity is only recorded once.

Revenue KPI

The share of taxonomy-eligible Group revenue was calculated as the portion of the net revenue from products and services related to taxonomy-eligible economic activities (numerator), divided by net revenue (denominator; the denominator corresponds to the Group revenue; see also Group Notes, note 5).

Fraport generates revenue from products and services associated with taxonomy-eligible economic activities in the area of renting. This concerns the activity "7.7 Acquisition and ownership of buildings". Revenue from the renting of buildings is mainly reflected in the revenue in the Retail & Real Estate and International Activities & Services segments. Furthermore, Fraport obtains taxonomy-eligible revenue by providing the passenger transport system. This comes under the economic activity "6.3 Urban and suburban transport, road passenger transport". The related costs are passed on to airlines within the airport charges of the Aviation segment. To determine the taxonomy-eligible portion, a distribution formula was applied based on the cost basis to ensure appropriate allocation to the charges. In addition, Fraport generates taxonomy-eligible revenue through economic activity "6.20 Air transport ground handling operations," both at the Frankfurt site and at foreign airports. Analogous to the calculation system for economic activity 6.3, a distribution key is determined in order to ensure proper settlement of charges.

The taxonomy-aligned revenue of the passenger transport system of economic activity 6.3 increased to €47.45 million, mainly caused by the higher passenger volume (previous year: €37.09 million). In addition, revenue from the rental at Fraport Greece is taxonomy-aligned in the amount of €66.85 million (previous year: €58.15 million). In this reporting year, taxonomy-aligned revenue of €149.68 million was added to taxonomy-aligned revenue in connection with economic activity " 6.20 Air transport ground handling operations."

Taxonomy-eligible but non-taxonomy-aligned revenue is described in the following section. With regard to the renting of buildings (7.7), an increase in the taxonomy-eligible revenue to €759.53 million is recorded (previous year: €650.08 million). Revenue from economic activity 6.20 comprises an amount of €679.92 million (previous year: €752.54 million).

Proportion of turnover / Total turnover

	Taxonomy-aligned per objective	Taxonomy-eligible per objective

Climate Change Mitigation (CCM)	5.96%	38.48%
Climate Change Adaptation (CCA)	0.00%	0.00%
Water and marine resources (WTR)	0.00%	0.00%
Circular Economy (CE)	0.00%	0.00%
Pollution (PPC)	0.00%	0.00%
Biodiversity and ecosystems (BIO)	0.00%	0.00%

Template turnover Template turnover

							Substantial contribution criteria Substantial contribution criteria
Economic activities Economic activities	Code(s)	Code(s)	Turnover Proportion of Turnover Proportion of turnover 2024	Climate turnover change mitigation 2024	Climate Climate change change mitigation adaptation	Climate Water change adaptation	Water Pollution	Pollution Circular Economy	Circular Biodiversity Biodiversity Economy

(1)	(1) (2)	(2) (3)	(3) (4)	(4) (5)	(5) (6)	(6) (7)	(7) (8)	(8) (9)	(9) (10)
		€ mil.	€ mil. %	Y; N; N/EL %	Y; N; N/EL Y; N; N/EL	Y; N; N/EL Y; N; N/EL	Y; N; N/EL Y; N; N/EL	Y; N; N/EL Y; N; N/EL	Y; N; N/EL Y; N; N/EL Y; N; N/EL

A. TAXONOMY-ELIGIBLE ACTIVITIES A. TAXONOMY-ELIGIBLE ACTIVITIES
A.1. Environmentally sustainable activities A.1. Environmentally sustainable activities (Taxonomy-aligned) (Taxonomy-aligned)
Urban and suburban transport, road Urban and suburban transport, road passenger transport passenger transport	CCM 6.3	CCM 6.3 47.45	47.45 1.07	1.07 Y	Y N/EL	N/EL N/EL	N/EL N/EL	N/EL N/EL	N/EL N/EL
Air transport ground handling operations Air transport ground handling operations	CCM 6.20	CCM 6.20 149.68	149.68 3.38	3.38 Y	Y N/EL	N/EL N/EL	N/EL N/EL	N/EL N/EL	N/EL N/EL
Acquisition and ownership of buildings Acquisition and ownership of buildings	CCM 7.7	CCM 7.7 66.85	66.85 1.51	1.51 Y	Y N/EL	N/EL N/EL	N/EL N/EL	N/EL N/EL	N/EL N/EL
Turnover of environmentally sustainable Turnover of environmentally sustainable
activities (Taxonomy-aligned) (A.1) activities (Taxonomy-aligned) (A.1)		263.98	263.98 5.96	5.96 5.96%	5.96% 0%	0% 0%	0% 0%	0% 0%	0% 0%
Of which enabling Of which enabling		0.00	0.00 0.00	0.00 0.00%	0.00% 0%	0% 0%	0% 0%	0% 0%	0% 0%
Of which transitional Of which transitional		0.00	0.00 0.00	0.00 0.00%	0.00%
A.2. Taxonomy-Eligible but not A.2. Taxonomy-Eligible but not environmentally sustainable activities environmentally sustainable activities (not Taxonomy-aligned activities) (not Taxonomy-aligned activities)
				EL; N/EL	EL; N/EL EL; N/EL	EL; N/EL EL; N/EL	EL; N/EL EL; N/EL	EL; N/EL EL; N/EL	EL; N/EL EL; N/EL
Air transport ground handling operations Air transport ground handling operations	CCM 6.20	CCM 6.20 679.92	679.92 15.36	15.36 EL	EL N/EL	N/EL N/EL	N/EL N/EL	N/EL N/EL	N/EL N/EL
Acquisition and ownership of buildings Acquisition and ownership of buildings	CCM 7.7	CCM 7.7 759.53	759.53 17.16	17.16 EL	EL N/EL	N/EL N/EL	N/EL N/EL	N/EL N/EL	N/EL N/EL
Turnover of Taxonomy-eligible but not Turnover of Taxonomy-eligible but not environmentally sustainable activities environmentally sustainable activities (not Taxonomy-aligned activities) (A.2) (not Taxonomy-aligned activities) (A.2)		1,439.45	1,439.45 32.52	32.52 32.52%	32.52% 0%	0% 0%	0% 0%	0% 0%	0% 0%
A. Turnover of Taxonomy-eligible A. Turnover of Taxonomy-eligible activities (A.1+A.2) activities (A.1+A.2)		1,703.44	1,703.44 38.48	38.48 38.48%	38.48% 0%	0% 0%	0% 0%	0% 0%	0% 0%
B. TAXONOMY-NON-ELIGIBLE ACTIVITIES B. TAXONOMY-NON-ELIGIBLE ACTIVITIES
Turnover of Taxonomy-non-eligible Turnover of Taxonomy-non-eligible activities activities		2,723.55	2,723.55 61.52	61.52
Total (A+B) Total (A+B)		4,426.98	4,426.98 100.00	100.00

			DNSH criteria (Does Not Significantly Harm) DNSH criteria (Does Not Significantly Harm) DNSH criteria (Does Not Significantly Harm)
Climate Climate Climate change change change	Climate Climate Climate change change change	Water Water Water	Pollution Pollution Pollution	Circular Circular Circular Economy Economy Economy	Biodiversity Biodiversity Biodiversity	Minimum Minimum Safeguards Safeguards Safeguards	MinimumProportion of Proportion of Proportion of Taxonomy Taxonomy Taxonomy

Fraport Annual Report 2024 Fraport Annual Report 2024								Group Management Report / Economic Report Group Management Report / Economic Report



					DNSH criteria (Does Not Significantly Harm) DNSH criteria (Does Not Significantly Harm) DNSH criteria (Does Not Significantly Harm)
Category Category Category Category Category Category enabling transitional	MinimumProportion of Proportion of Proportion of Taxonomy	Minimum Minimum Safeguards	Biodiversity Biodiversity Biodiversity	Circular Circular Circular Economy	Pollution Pollution Pollution	Water Water Water	Climate Climate Climate change	Climate Climate Climate change
enabling transitional enabling transitional activity activity activity activity	Taxonomy Taxonomy aligned (A.1.) aligned (A.1.)	Safeguards Safeguards		Economy Economy			change change adaptation adaptation	change change mitigation mitigation
	or -eligible or -eligible (A.2.) turno (A.2.) turno
(19) (20) (19) (20)	ver 2023 ver 2023 (18) (18)	(17) (17)	(16) (16)	(15) (15)	(14) (14)	(13) (13)	(12) (12)	(11) (11)
E E	% %	Y/N Y/N	Y/N Y/N	Y/N Y/N	Y/N Y/N	Y/N Y/N	Y/N Y/N	Y/N Y/N



	0.93 0.93	Y Y	Y Y	Y Y	Y Y	Y Y	Y Y	Y Y
	0.00 0.00	Y Y	Y Y	Y Y	Y Y	Y Y	Y Y	Y Y
	1.45 1.45 1.45	Y Y Y	Y Y Y	Y Y Y	Y Y Y	Y Y Y	Y Y Y	Y Y Y
	2.38 2.38 2.38
E E



	18.81 18.81 18.81 16.25
	16.25 16.25
	35.06 35.06
	35.06 35.06
	37.44 37.44 37.44

	62.56 62.56 62.56
	100.00 100.00

Taxonomy-aligned per

objective

Taxonomy-eligible per

objective

Capital Expenditure (Capex) KPI

conveyor system in Terminal 3.

Proportion of capital expenditures / Total capital expenditures

€14.97 million).

The Capex KPI, which indicates the proportion of taxonomy-eligible capital expenditure, is defined as the ratio of capital expenditure eligible under the EU Taxonomy Regulation (numerator) divided by the total capital expenditure (denominator).

Total capital expenditure includes additions to property, plant, and equipment and intangible assets during the fiscal year. This includes the additions to property, plant, and equipment (IAS 16), intangible assets (IAS 38), rights of use (IFRS 16), and investment property (IAS 40). The total additions can be found in the section "Additions to non-current assets" and in the Consolidated Statement of Changes in Non-current Assets.

At Fraport the numerator consists of the following categories for taxonomy-eligible capital expenditure:

Capital expenditure relating to assets or processes associated with taxonomy-eligible economic activities (letter a) of Annex I to the delegated act pursuant to Article 8 of the Delegated Regulation (EU) 2021/2178 plus
Capital expenditure relating to individual actions enabling the target activities to become low-carbon or to lead to greenhouse gas reductions (letter c) of Annex I to the delegated act pursuant to Article 8 of the Delegated Regulation (EU) 2021/2178

Capital expenditure related to assets or processes associated with taxonomy-eligible economic activities (letter (a)) are to be allocated in particular to the economic activity "6.3 Urban and suburban passenger transport, passenger road transport". Given that the economic activity and the operation of the passenger transport system cannot be carried out without the corresponding rail infrastructure or stations, Fraport considers the related capital expenditure to be connected with economic activity 6.3.

All taxonomy-eligible and taxonomy-aligned additions are to be attributed to investments in infrastructure and terminal buildings.

The taxonomy-aligned additions for the passenger transport system of economic activity 6.3 increased compared to the previous year to €132.68 million (previous year: €97.71 million). Another taxonomy-aligned addition concerns economic activity "7.5 Installation, maintenance and repair of instruments and devices for measuring, regulation and controlling energy performance of buildings" with €44.97 million (previous year: €27.51 million). For economic activity "6.17 Low carbon airport infrastructure," the taxonomy-aligned additions amounted to €6.57 million (previous year: €1.67 million). Economic activity "6.20 Air transport ground handling operations" shows taxonomy-aligned additions of €50.16 million, a substantial portion of which relates to the baggage

The amounts described in the following section are taxonomy-eligible but are non-taxonomy-aligned capital expenditure. This year, because of the reclassification in connection with the economic activities in the real estate sector, taxonomy-eligible capital expenditure amounting to €1,196.83 million (in the previous year a total of: €963.92 million) is recognized under "7.7 Acquisition and ownership of buildings" instead of "7.1 Construction of new buildings" and "7.2 Renovation of existing buildings" for the first time. Additions to economic activity "3.4 Maintenance of roads and motorways" amounted to €41.65 million (previous year:

Climate Change Mitigation (CCM) 13.56% 79.25% Climate Change Adaptation (CCA) 0.00% 0.00% Water and marine resources (WTR) 0.00% 0.00% Circular Economy (CE) 0.00% 2.26% Pollution (PPC) 0.00% 0.00% Biodiversity and ecosystems (BIO) 0.00% 0.00% 2021/2178

Capital Expenditure (Capex) KPI

Statement of Changes in Non-current Assets.

All taxonomy-eligible and taxonomy-aligned additions are to be attributed to investments in infrastructure and terminal buildings.

allocated in particular to the economic activity "6.3 Urban and suburban passenger transport, passenger road transport". Given that the economic activity and the operation of the passenger transport system cannot be carried out without the corresponding rail infrastructure or stations, Fraport considers the related capital expenditure to be connected with economic activity 6.3.

Fraport Annual Report 2024 Group Management Report / Economic Report 103

• Capital expenditure relating to assets or processes associated with taxonomy-eligible economic activities (letter a) of

• Capital expenditure relating to individual actions enabling the target activities to become low-carbon or to lead to greenhouse gas reductions (letter c) of Annex I to the delegated act pursuant to Article 8 of the Delegated Regulation (EU)

Annex I to the delegated act pursuant to Article 8 of the Delegated Regulation (EU) 2021/2178 plus

At Fraport the numerator consists of the following categories for taxonomy-eligible capital expenditure:

Proportion of capital expenditures / Total capital expenditures

	Taxonomy-aligned per objective	Taxonomy-eligible per objective
Climate Change Mitigation (CCM)	13.56%	79.25%
Climate Change Adaptation (CCA)	0.00%	0.00%
Water and marine resources (WTR)	0.00%	0.00%
Circular Economy (CE)	0.00%	2.26%
Pollution (PPC)	0.00%	0.00%
Biodiversity and ecosystems (BIO)	0.00%	0.00%

Template capital expenditures (Capex) Template capital expenditures (Capex)

	Substantial contribution criteria Substantial contribution criteria
Economic activities Economic activities	Code(s)	Code(s) Absolute Capex	Absolute Proportion of Capex 2024 Capex	Proportion of Climate Capex 2024 change mitigation	Climate Climate change change mitigation adaptation	Climate Water change adaptation	Water Pollution	Pollution Circular Economy	Circular Biodiversity Economy	Biodiversity
(1)	(1) (2)	(2) (3)	(3) (4)	(4) (5)	(5) (6)	(6) (7)	(7) (8)	(8) (9)	(9) (10)	(10)
		€ mil.	€ mil. %	Y; N; N/EL %	Y; N; N/EL Y; N; N/EL	Y; N; N/EL Y; N; N/EL	Y; N; N/EL Y; N; N/EL	Y; N; N/EL Y; N; N/EL	Y; N; N/EL Y; N; N/EL	Y; N; N/EL
A. TAXONOMY-ELIGIBLE ACTIVITIES A. TAXONOMY-ELIGIBLE ACTIVITIES
A.1. Environmentally sustainable activities A.1. Environmentally sustainable activities (Taxonomy-aligned) (Taxonomy-aligned)
Electricity generation using solar Electricity generation using solar photovoltaic technology photovoltaic technology	CCM 4.1	CCM 4.1 12.64	12.64 0.68	0.68 Y	Y N/EL	N/EL N/EL	N/EL N/EL	N/EL N/EL	N/EL N/EL	N/EL
Urban and suburban transport, Urban and suburban transport, road passenger transport road passenger transport	CCM 6.3	CCM 6.3 132.68	132.68 7.19	7.19 Y	Y N/EL	N/EL N/EL	N/EL N/EL	N/EL N/EL	N/EL N/EL	N/EL
Low carbon airport infrastructure Low carbon airport infrastructure	CCM 6.17	CCM 6.17 6.57	6.57 0.36	0.36 Y	Y N/EL	N/EL N/EL	N/EL N/EL	N/EL N/EL	N/EL N/EL	N/EL
Air transport ground handling operations Air transport ground handling operations	CCM 6.20	CCM 6.20 50.16	50.16 2.72	2.72 Y	Y N/EL	N/EL N/EL	N/EL N/EL	N/EL N/EL	N/EL N/EL	N/EL
Installation, maintenance and repair of Installation, maintenance and repair of charging stations for electric vehicles in charging stations for electric vehicles in buildings (and parking spaces attached buildings (and parking spaces attached to buildings) to buildings)	CCM 7.4	CCM 7.4 0.00	0.00 0.00	0.00 Y	Y N/EL	N/EL N/EL	N/EL N/EL	N/EL N/EL	N/EL N/EL	N/EL
Installation, maintenance and repair of Installation, maintenance and repair of instruments and devices for measuring, instruments and devices for measuring, regulation and controlling energy regulation and controlling energy performance of buildings performance of buildings	CCM 7.5	CCM 7.5 44.97	44.97 2.44	2.44 Y	Y N/EL	N/EL N/EL	N/EL N/EL	N/EL N/EL	N/EL N/EL	N/EL
Installation, maintenance and repair Installation, maintenance and repair of renewable energy technologies of renewable energy technologies	CCM 7.6	CCM 7.6 3.29	3.29 0.18	0.18 Y	Y N/EL	N/EL N/EL	N/EL N/EL	N/EL N/EL	N/EL N/EL	N/EL
Capex of environmentally sustainable Capex of environmentally sustainable
activities (Taxonomy-aligned) (A.1) activities (Taxonomy-aligned) (A.1)		250.31	250.31 13.56	13.56 13.56%	13.56% 0%	0% 0%	0% 0%	0% 0%	0% 0%	0%
Of which enabling Of which enabling		54.83	54.83 2.97	2.97 2.97%	2.97% 0%	0% 0%	0% 0%	0% 0%	0% 0%	0%
Of which transitional Of which transitional A.2. Taxonomy-Eligible but not A.2. Taxonomy-Eligible but not environmentally sustainable activities environmentally sustainable activities (not Taxonomy-aligned activities) (not Taxonomy-aligned activities)		0.00	0.00 0.00	0.00 0.00%	0.00%
				EL; N/EL	EL; N/EL EL; N/EL	EL; N/EL EL; N/EL	EL; N/EL EL; N/EL	EL; N/EL EL; N/EL	EL; N/EL EL; N/EL	EL; N/EL
Maintenance of roads and motorways Maintenance of roads and motorways	CE 3.4	CE 3.4 41.65	41.65 2.26	2.26 N/EL	N/EL N/EL	N/EL N/EL	N/EL N/EL	N/EL EL	EL N/EL	N/EL
Air transport ground handling operations Air transport ground handling operations	CCM 6.20	CCM 6.20 12.87	12.87 0.70	0.70 EL	EL N/EL	N/EL N/EL	N/EL N/EL	N/EL N/EL	N/EL N/EL	N/EL
Construction of new buildings1) Construction of new buildings1) Renovation of existing buildings1) Renovation of existing buildings1)	CCM 7.1 CCM 7.2	CCM 7.1 0.00 CCM 7.2 0.00	0.00 0.00 0.00 0.00	0.00 EL 0.00 EL	EL N/EL EL N/EL	N/EL N/EL N/EL N/EL	N/EL N/EL N/EL N/EL	N/EL N/EL N/EL N/EL	N/EL N/EL N/EL N/EL	N/EL N/EL
Installation, maintenance and repair of Installation, maintenance and repair of energy efficiency equipment energy efficiency equipment	CCM 7.3	CCM 7.3 2.77	2.77 0.15	0.15 EL	EL N/EL	N/EL N/EL	N/EL N/EL	N/EL N/EL	N/EL N/EL	N/EL
Installation, maintenance and repair of Installation, maintenance and repair of instruments and devices for measuring, instruments and devices for measuring, regulation and controlling energy regulation and controlling energy performance of buildings performance of buildings	CCM 7.5	CCM 7.5 0.00	0.00 0.00	0.00 EL	EL N/EL	N/EL N/EL	N/EL N/EL	N/EL N/EL	N/EL N/EL	N/EL
Acquisition and ownership of buildings Acquisition and ownership of buildings	CCM 7.7	CCM 7.7 1,196.83	1,196.83 64.84	64.84 EL	EL N/EL	N/EL N/EL	N/EL N/EL	N/EL N/EL	N/EL N/EL	N/EL
Capex of Taxonomy-eligible but not Capex of Taxonomy-eligible but not environmentally sustainable activities environmentally sustainable activities (not Taxonomy-aligned activities) (A.2) (not Taxonomy-aligned activities) (A.2)		1,254.13	1,254.13 67.94	67.94 67.94%	67.94% 0%	0% 0%	0% 0%	0% 0%	0% 0%	0%
A. Capex of Taxonomy-eligible A. Capex of Taxonomy-eligible activities (A.1+A.2) activities (A.1+A.2)		1,504.43	1,504.43 81.51	81.51 81.51%	81.51% 0%	0% 0%	0% 0%	0% 0%	0% 0%	0%
B. TAXONOMY-NON-ELIGIBLE ACTIVITIES B. TAXONOMY-NON-ELIGIBLE ACTIVITIES
Capex of Taxonomy-non-eligible Capex of Taxonomy-non-eligible activities activities		341.37	341.37 18.49	18.49
Total (A+B) Total (A+B)		1,845.80	1,845.80 100.00	100.00

1) This economic activity was reclassified to economic activity 7.7 as of the 2024 reporting year. An explanation can be found in the body text under the section "EU Taxonomy Performance Indicators". 1) This economic activity was reclassified to economic activity 7.7 as of the 2024 reporting year. An explanation can be found in the body text under the section "EU Taxonomy Performance Indicators".

104 Group Management Report / Economic Report Fraport Annual Report 2024

photovoltaic technology CCM 4.1 12.64 0.68 Y N/EL N/EL N/EL N/EL N/EL

road passenger transport CCM 6.3 132.68 7.19 Y N/EL N/EL N/EL N/EL N/EL Low carbon airport infrastructure CCM 6.17 6.57 0.36 Y N/EL N/EL N/EL N/EL N/EL Air transport ground handling operations CCM 6.20 50.16 2.72 Y N/EL N/EL N/EL N/EL N/EL

to buildings) CCM 7.4 0.00 0.00 Y N/EL N/EL N/EL N/EL N/EL

performance of buildings CCM 7.5 44.97 2.44 Y N/EL N/EL N/EL N/EL N/EL

of renewable energy technologies CCM 7.6 3.29 0.18 Y N/EL N/EL N/EL N/EL N/EL

activities (Taxonomy-aligned) (A.1) 250.31 13.56 13.56% 0% 0% 0% 0% 0% Of which enabling 54.83 2.97 2.97% 0% 0% 0% 0% 0%

Maintenance of roads and motorways CE 3.4 41.65 2.26 N/EL N/EL N/EL N/EL EL N/EL Air transport ground handling operations CCM 6.20 12.87 0.70 EL N/EL N/EL N/EL N/EL N/EL Construction of new buildings1) CCM 7.1 0.00 0.00 EL N/EL N/EL N/EL N/EL N/EL Renovation of existing buildings1) CCM 7.2 0.00 0.00 EL N/EL N/EL N/EL N/EL N/EL

Maintenance of roads and motorwaysCE 3.4 41.65 2.26 N/EL N/EL N/EL N/EL EL N/EL Air transport ground handling operations CCM 6.20 12.87 0.70 EL N/EL N/EL N/EL N/EL N/EL Construction of new buildings1) CCM 7.1 0.00 0.00 EL N/EL N/EL N/EL N/EL N/EL Renovation of existing buildings1) CCM 7.2 0.00 0.00 EL N/EL N/EL N/EL N/EL N/EL

energy efficiency equipment CCM 7.3 2.77 0.15 EL N/EL N/EL N/EL N/EL N/EL

performance of buildings CCM 7.5 0.00 0.00 EL N/EL N/EL N/EL N/EL N/EL Acquisition and ownership of buildings CCM 7.7 1,196.83 64.84 EL N/EL N/EL N/EL N/EL N/EL

(not Taxonomy-aligned activities) (A.2) 1,254.13 67.94 67.94% 0% 0% 0% 0% 0%

activities (A.1+A.2) 1,504.43 81.51 81.51% 0% 0% 0% 0% 0%

1) This economic activity was reclassified to economic activity 7.7 as of the 2024 reporting year. An explanation can be found in the body text under the section "EU