Mundys (formerly: Atlantia SpA)

Earnings Release • Mar 11, 2022

Atlantia Investor Day 2021 Results and Strategic Update

11 March 2022

•	The New Atlantia	3	Carlo Bertazzo	CEO, Atlantia
•	2021 Results	15	Tiziano Ceccarani	CFO, Atlantia
•	Our Portfolio Companies:
	Abertis	22	José Aljaro	CEO, Abertis
	Overseas Motorways	33	Roberto Mengucci	Investment Director, Atlantia
	Aeroporti di Roma	44	Marco Troncone	CEO, ADR
	Aéroports de la Côte d'Azur	61	Franck Goldnadel	CEO, ACA
	Telepass	69	Gabriele Benedetto	CEO, Telepass
•	Closing Remarks	79	Carlo Bertazzo	CEO, Atlantia

Appendix

The New Atlantia

Carlo Bertazzo | CEO, Atlantia

Who We Are Today

We manage motorways, airports and offer mobility services all over the world

The New Atlantia

Building our future step by step

Delivering Our Strategy: Main Achievements

New Organization

New Vision, Strategy and Organization	• Strategic investment holding focused on portfolio management, ESG, strategy, talent acquisition, partnership Definition of new strategic guidelines • Appointment of the new management team • • Reinforced governance of Group's subsidiaries

o oli f
r o P
nt e r r
u C

Organic Growth	• Abertis – Agreement with the Chilean Government on the redevelopment of urban areas in Santiago (€300m capex for a 20-month concession extension) In 2021 Atlantia's total organic capex amounted to €1bn (+14% YoY) •
Simplification	• Lusoponte: Atlantia's disposal of its entire stake (€54m) • A'lienor: Abertis disposal of its minority stake (35%) for ~€222m (including the disposal of Sanef Aquitaine) RMG: Abertis' disposal of its minority stake (33.3%) for £34.4m. RMG manages two shadow toll roads in the UK • Rationalization of Atlantia motorways' presence in Brazil (AB Concessoes) •
New Adjacent Businesses	Volocopter minority investment (€50m) • Launch of Urban Blue for the building and management of vertiports •

Delivering Our Strategy: Main Achievements

2024 Outlook

2024 Outlook: Dividend Policy

Sustainable dividend policy, underpinned by a solid capital structure

Main Opportunities:Financial Flexibility at Holding Level

• Financial flexibility will be deployed in sizable opportunities in core transport infrastructures
• Selective approach to synergetic adjacent businesses

New Opportunities: Priority Market Segments

From a Lifecycle Perspective

Innovating Our Assets

Selective approach to new synergetic and adjacent businesses

On The Way to 2030

Key pillars of the ESG strategy

Axis	Key ambitions and interim targets at 2023	2021 performance - progress on key milestones	2030 Key Goals and Ambitions
E PLANET	Climate change and energy transition • 20% reduction of Scope 1+2 CO2 emissions (vs 2019) 30% of electricity consumption from • renewable sources	-14% Scope 1+2 CO2 emissions vs 2020 (- • 24% vs 2019) • 32% of electricity consumption from renewable sources	Science-based Net Zero Climate Action Plan NZ by 2040 for direct CO2 emissions
S PEOPLE	Equal access and participation of women 30% of women in middle and senior management positions and among members of investees' management and oversight bodies appointed by Atlantia	29% women in middle and senior management positions; 45% women among appointments made by Atlantia in 2021	Accelerate towards gender balance, especially among management and professional leadership roles No pay gap among comparable employee groups at all organization levels
G PROSPERITY	Fostering sustainable success and a resilient business model 100% of senior management remuneration's schemes linked to ESG metrics, alongside economic, financial and operational metrics	ESG-linked remuneration schemes are in place for Atlantia and subsidiaries accounting for >95% of revenues Multi-year ESG plans are in place for subsidiaries making up >90% of revenues	Promote value sharing with employees by wide-spread profit/result sharing schemes

Climate Action Plan

Turning pledges into action: consultive vote to be asked at the next AGM («Say on Climate»)

2021 Results

Tiziano Ceccarani| CFO, Atlantia

2021 Consolidated Results

Double digit growth and improved results versus company's outlook

2021 Results – Traffic Performance

Strong recovery in all countries

2021 Results by Segment

Well diversified group by business and geography

2021 Results – EBITDA to Net Result

Net result affected by write-off of toll road assets in Brazil and airports in France

2021 Results – Net Financial Debt

€3.8bn net financial debt reduction even amid a challenging COVID environment

2021 Results – Dividends

Despite COVID impact, resilient dividends flow from subsidiaries to Atlantia HoldCo

Abertis

José Aljaro| CEO, Abertis

A Global Toll Road Operator

Connecting the future

Abertis is a large and global toll road operator with more than 60 years of experience

Managing close to 8 thousand kilometers of high quality and high-capacity toll roads worldwide with industrial expertise to manage infrastructures

Long term partner of the public sector providing industrial and financial strength within its commitment to investments in top-quality sustainable infrastructures

Industrial partner in consortiums with leading financial institutions across the world

Seeking to be part of the solution to the issues associated with traffic congestion worldwide and climate change

Abertis Connecting the World

Best in class highly diversified mature and strategically located toll road network

	EBITDA 2021: €3.4bn (63% in Europe)			7,843km		34 concessions		~ 13.000 employees
(1)	2 10-12	6 5-34	1 5	6 13(3)	5 27(3)	7 7-26	3 23-48	2 5	2 9
	1,769km	561km	236km	773km	875km	3,200km	102km	152km	175km
EBITDA	2,145 (2) €1,195m 36%	1,078 €702m 21%	474 €229m 6%	868 €394m 12%	1,458 €365m 11%	4,440 €257m 8%	245 €159m 5%	53 €22m 1%	1,864 €22m 1%
	Main operator of Paris access motorways	#1 toll road operator	One of the busiest motorway in Italy	Main axis of Santiago through ACSA	Connecting the two largest cities through FARAC	Large and fast growing network	Essential connection in Hampton Roads, Virginia and #1 toll road operator in Puerto-Rico	Higher growth regions	Main accesses to Buenos Aires

(1) Years Left on Concession: shortest and longest maturities from December 2021. Excluding concessions maturing in 2022. 24

(2) The remaining EBITDA is related to AMS together with Abertis holding.

(3) Incorporating main concessions representing 52% of EBITDA in Chile and 92% of EBITDA in Mexico

Key Value Creation Pillars

Building a perpetual and sustainable business underpinned by strong financial discipline

Growth	Focus on toll roads • • Asset replacement to ensure business perpetuity Fostering the geographical diversification in countries with solid regulatory frameworks • • Experienced and long-term partner for the administration
Operational and financial strength	Industrial model implementing best practices resulting in cash efficiencies • • Strong access to long-term financing with low cost of funding Capital structure coherent with investment grade rating • Debt structure compatible with predictable distributions to shareholders •
ESG and innovation	• Commitment to contribute on the creation of a new standard of mobility, focused on people's needs and capable of creating a positive social, environmental and economic impact Sustainability Strategy 2022-30, focused on eco efficiency, good governance and social aspects, road • safety and quality. 3-year ESG Plan with specific goals and focus on decarbonization Innovation as a lever to transform our business to provide better services and improve our performance •

Growth Strategy

The road to a safer, smarter and more sustainable mobility, based on a reliable track record

€3.1bn capex 22-24	New concessions
Expansion (88%)	Maintenance (12%)	Potential M&A
Investments in existing platforms:	Periodic inspections to ensure full compliance with a	Mainly focused on toll roads in selected
Already compensated • (i.e. Plan d'investissement autoroutier (tariff increase in 2019-20-21))	preventative management approach Based on International Standards
• To be compensated (i.e. Ramales (+6 yrs extension from 2042 to 2048))	and always equal or superior to government requirements.	geographies with robust regulatory framework
• Generate a terminal value (i.e. Free Flow A13)	Bridges Pavements Annual basis Annual basis and major every 3 yrs
Fostering organic growth	Efficiency, Compliance and Control	Boosting inorganic growth

Good track record with €3,9bn of investments executed in the last 3 years (2019-21)

• Capex commitments negotiated in existing countries, in exchange of:
• term extension, (i.e plan de relance in France, Nudo Quilicura in Chile or Ramales in Mexico)
• tariff increase (i.e. plan d'investissement Autoroutier; Free Flow A13; Arteris expansion capex)
• terminal value (i.e. Free Flow A13 in France)
• New brownfield concessions in new countries (i.e. RCO acquisition in Mexico and ERC acquisition in USA for total Abertis Equity Value of c. €2.1bn)

Operational Strength

Applying Abertis' industrial expertise to create synergies across business units

• Efficiencies mainly focused on OPEX, implementing best practices, capturing synergies and incrementing cash flow generation through an optimization of processes:
• Revenues: fostering non-tolling revenues like service areas, optical fiber and discounts rationalization.
• Personnel expenses: focus on implementing restructuring processes through the simplification and centralization of functions, reengineering of operations and toll automatization.
• Other operating expenses: best practices implementation focused on purchase discipline, contract renegotiation, repairs and maintenance optimization, cash out prioritization and general cost contention.

Starting a new efficiency plan of c. €170m for 2022-24

Financial Strength

Solid debt structure with proven market access, strong liquidity and competitive cost

ESG and Innovation

A more efficient, responsible and sustainable exploitation model

ESG Innovation

Sustainability Plan 2022-30 main axis contains the following specific objectives for the first ESG Plan 2022-24

Good Governance

Organizational culture based on ethical principles.

• ✓ Management variable remuneration (15%) linked to ESG
• ✓ >70% of executives trained in sustainability by 2024
• ✓ 100% of critical supplier audited by ESG standards

Eco-efficiency

• Reduction of the carbon footprint,
• Development of products and services with positive environmental and social criteria
• ✓ 25% emissions reduction in 2024 (scope 1&2)
• ✓ >40% energy used from renewable sources in 2024

Integration in the environment

Generate positive synergies with the local community and the empowerment and conservation of natural capital.

✓ Implement methodology to measure and quantify biodiversity impact

Innovation is a strategic cornerstone for the Group to improve its operations and competitiveness, transform its business to answer new mobility needs and grow in adjacent markets

Abertis Mobility Services (AMS)

Strategic businesses around mobility, with a strong focus on solving Urban Mobility challenges

Innovation

Program

Sustainability, customer experience, safety and efficient operations are addressed in ongoing projects. Data and artificial intelligence are at the core of operations transformation.

Innovation

Observatory

Watch tower to anticipate trends and identify both operational improvement and business growth opportunities

Connected Mobility

Abertis advances in the development of its existing assets and opens them to stakeholders in the future cooperative, connected, and automated mobility ecosystem

Security and quality

• Guarantee road safety and occupational health and safety,
• Enhance job quality,
• Ensure equal opportunities and develop quality products and services that generate positive environmental, social and good governance impacts.

• ✓ Road fatality reduction in 2024 in line with UN's Global Compact

• ✓ Increase number of women with executive position

• ✓ Formalized cybersecurity policy

Abertis 2021 Results

Traffic recovery (+21% YoY) leading to a +28% EBITDA increase

Traffic

Traffic recovery during 2021 supported by Abertis diversified portfolio, recovery of LV and HV resilience showing Q4 2021 traffic levels at or above Q4 2019.

€4.9bn Revenue (+20%)

		France	Spain	Italy	Chile	Brazil	Mexico	USA		P. Rico Argentina India		Total
	YTD vs 2020		+19.1% +29.1% +24.2% +40.7%			+8.7%					+17.4% +15.9% +24.7% +55.3% +28.4% +21.0%
	LV	+21.3%	+33.7%	+27.1%	+43.7%	+7.7%	+20.8%	+16.0%	+25.5%	+57.6%	+29.8%	+23.9%
T	HV	+10.4%	+11.7%	+14.0%	+27.2%	+10.4%	+11.1%	+14.3%	+7.6%	+38.5%	+24.8%	+12.8%
D
A	YTD vs 2019	-10.2%	-13.0%	-10.3%	-1.8%	+0.7%	+3.3%	+1.9%	-0.9%	-6.5%	+8.5%	-4.8%
	LV	-12.2%	-15.3%	-14.0%	-2.9%	-4.5%	+3.4%	+1.3%	-1.3%	-7.1%	+16.1%	-7.6%
	HV	-0.2%	-1.1%	+6.7%	+4.2%	+10.7%	+2.9%	+14.7%	+8.6%	-1.2%	-7.2%	+5.2%

EBITDA

The +28% EBITDA increase is mainly driven by: (i) a +29% recurring performance underpinned by traffic recovery and a (ii) -1% of cash-flow replacement of the Spanish concessions expired in August 2021 through the consolidation of RCO (May 2020) and ERC (Dec 2020)

Capex, Net Debt and Liquidity

Main capex projects during 2021 have been in France with Plan de Relance and PIA as well as other works in federal network in Brazil and Italy.

Significant net debt reduction: net debt/EBITDA from 9.6x in December 2020 to 7.0x in December 2021 due to strong cash flow generation and debt repayment with proceeds from hybrid bond issuance.

€652m

Capex

Very strong liquidity with €8.3bn of available cash (not considering the recent AP7 cash-in €1.1bn) and committed undrawn bank facilities with no material debt redemption before 2023 at Abertis Infraestructuras.

Growth and Asset Rotation

October 2021 a new agreement was signed with the Government of Chile to invest €300m in Autopista Central in exchange for 20-month extension of the concession. Alienor (35%), RMG (33%) and Brebemi disposals, together with Alis in 2020, follow the strategy of Abertis to divest the minority stakes to reinvest the proceeds in new projects to continue cash-flow replacement.

AP7 Agreement Update

AP7 Agreement: RD 457/2006

• The Agreement was signed in 2006 between Abertis' Spanish concession Acesa and the Spanish government envisaging the improvement of the Mediterranean corridor for a better service of users by constructing a third lane on the AP7
• To restore the economic balance of the concession, the Agreement established that the difference in revenue resulting from the variance between actual traffic and the amount of traffic specified in the Agreement until the end of the concession (traffic guarantee) must be added to or subtracted from the investments made in a compensation account created to that effect. The resulting compensation amount should be paid by the guarantor 6 months after concession expiration.

2024 Outlook

Revenues

• Revenue growth mainly thanks to full traffic recovery and inflation linked tariffs
• 64% of revenues 2024 in hard currencies

EBITDA

• EBITDA growth supported by efficiency programs and balanced geographical diversification, enhancing cashflow resilience despite EBITDA loss due to concessions expirations within the period resulting in a CAGR 21-24 of +9.8% at constant perimeter

Capex

• Remunerated capex increasing traffic capacity and allowing perpetuity of cash flows
• Continuously investing on safety as a key priority without growth

Net Debt

• Significant reduction in Net Debt and leverage supported by strong cash flow generation and including €1.8bn dividend
• High pro-active debt management to extend debt duration and reduce average cost of debt (3.9% in 2021)

3.4 3.8

Note: Outlook at constant FX and perimeter

Constant FX used from 2022 to 2024: €/\$: 1,14; €/BRL: 6,26; €/CLP: 915,8; €/MXN 23,46; €ARS: 173,1; €/INR 86,08.

(*) Mainly related to Acesa and Invicat expired in August 2021, Sol expiring in March 2022 and Elqui in December 2022, calculated with 2021 Ebitda at constant FX for 2022 to 2024.

Overseas Motorways

Roberto Mengucci| Investment Director, Atlantia

Overseas Motorways - Chile

7 (50%+ of Santiago network) Concessions Length 1 194km Atlantia stake 133km 50.01% 100% Term Up to 2048 2023 IFRS reported figures 2021 • Revenues • EBITDA €251m €32m €209m €23m 8 327km €283m €232m Totale Cile

Adjusted EBITDA: €340m

including minimum revenues guarantees and subsidies (€108m), not included in IFRS reported EBITDA

Main challenges & priorities

• Continue in operational excellence in terms of quality of service, efficiency and relationship with Grantor
• Continue the development activities following the successful delivery of the Santiago Centro-Oriente program:
• Development of the two greenfield projects in portfolio (AVO II and Ruta 78-68)
• Study of the tender projects' pipeline
• Group's financial structure offers room for growth
• Net Financial Debt/Adj EBITDA 2021: 1.5x
• Including regulatory credits: Net Debt substantially nihil
• Maintain focus on ESG excellence including the launch of new sustainability interventions already agreed with the Ministry of Infrastructure

Leading Urban Toll Road Operator in Chile

Main Chilean motorway operator managing over 50% of Santiago urban network plus a stretch of Ruta 5 in the South of Chile

Costanera Norte	€170m (~43% of total)	€144m (~42% of total)	Main concessionaire of Grupo Costanera and fundamental artery for the urban viability of Santiago that cuts the city from west to east
Vespucio Sur	€102m (~26% of total)	€90m (~26% of total)	Southern section of the inner ring of the city of Santiago
Nororiente	€31m (~8% of total)	€27m (~8% of total)	Highway connecting the wealthy areas of new expansion in the north of Santiago and the business and commercial city center
Los Lagos	€62m (~16% of total)	€53m (~16% of total)	Southern stretch of the Ruta 5 in the Los Lagos region, main salmon farming area and important holiday area

Assets geographical footprint

Atlantia's direct portfolio in Chile (excluding Abertis):

• The main asset of Atlantia portfolio in Chile is Grupo Costanera, in partnership with the Canadian pension fund CPPIB
• Grupo Costanera is the main highway operator in Chile and manages over 50% of toll road network in Santiago owing 100% of:
• 4 urban highway concessionaires in Santiago (Costanera Norte, Vespucio Sur, Nororiente and AMB);
• a highway concessionaire in the Valparaìso Region (Litoral Central);
• two urban greenfield concessions recently awarded (AVO II and Ruta 78-68).
• In addition to Grupo Costanera Atlantia holds 100% of the Los Lagos concessionaire in the South of Chile. 35

Supportive Country Framework and Traffic Recovery

• Chile is characterized by a mature and reliable regulatory framework since the launch of the privatization program in the late '90s.
• The development of the urban toll road network has been very successful providing significant benefits for the users.
• Concession contracts include tariff modulation mechanism (dynamic tariff), aimed at smoothening traffic congestion in peak hours, and effective enforcement mechanism.
• Confidence of the investors remains strong, as demonstrated by the recent M&A transactions and the high competition in tender processes.
• Very strong economy recovery: after about 5.8% GDP decrease in 2020 due to Covid pandemic, in 2021 GDP growth has been well above 10%.
• Traffic showed a significant recovery starting from mid 2021 with a robust growth in the second half of the year. On an annual basis traffic almost reached 2019 levels.

Traffic Evolution

Development Through New Investments

• Greenfield concession awarded to Grupo Costanera.
• Construction and management of the last 5.2km, entirely in tunnels of the inner ring-road of the city of Santiago, with free flow tolling.

• Project activities in line with schedule. Opening to traffic expected in 2026.

• Greenfield concession awarded to Grupo Costanera.

• Construction and management of a 9.2km stretch with free flow tolling, connecting Costanera Norte, Ruta 78 and Ruta 68, two main highways between Santiago and the port areas of San Antonio and Valparaiso.
• Project activities in line with schedule. Opening to traffic expected in 2025.

ESG Leader in Santiago

• Redevelopment of over 175 hectares of green areas, planted with about 85,000 trees and shrubs, in the Santiago area.
• Management of about 150 hectares of green areas, largely intended for urban parks used by the community.
• Focus on water saving while ensuring the highest levels of maintenance through a digitalized irrigation system (saving of about 50% compared to traditional solutions).
• New agreements recently signed with the Grantor for new investments aimed at developing new green areas close to the managed infrastructures.

Green areas management Sustainability oriented investments Support to local communities

• Recent completion of Santiago Centro-Oriente program, one of the largest urban infrastructure projects aimed at removing traffic congestion in some areas, allowing.
• saving of ~1.1 million hours a year in travel times;
• over 10% reduction of noise pollution in the area, dropping to 1996 comparable levels, conveying in tunnel part of the Santiago eastern sector vehicular flow.

• New investments aimed at improving customer safety and requalifying areas adjacent to the infrastructures.

• Commitment to support the local community with an aid program, strengthened during the Covid emergency:

• Funding for medical support and donation of respirators;
• Supply of food and hygiene items in favor of some of the poorest municipalities of Santiago.

Overseas Motorways -Brazil

Main challenges & priorities

•	Manage the challenging regulatory
	environment
	Compensation of regulatory assets •
	• Continue discussing with authority
	contractual addenda for new investments
•	Continue investment program on Nascentes
	das Gerais

• Potential rationalization of Atlantia motorways' presence in Brazil

One of the Largest Motorway Operator in Brazil

Privileged located assets within the main economic areas of Brazil

Ownership and main assets

	Concessionaire	(1) Revenues 2021	EBITDA 2021	Description
das Colinas Rodovias		€92m (~44% of total concessionaires)	€64m (~49% of total concessionaires)	Highway network between major cities in the São Paulo state, such as Campinas, Jundiai, Itu, connecting more than 5 million inhabitants
do Triangulo Sol		€90m (~43% of total concessionaires)	€58m (~45% of total concessionaires)	Network of 4 modern stretches in the countryside of the São Paulo state connecting more than 900 thousand inhabitants
G- M 050 Rodovia		€25m (~12% of total concessionaires)	€8m (~6% of total concessionaires)	Highway connecting more than 1 mln inhabitants between the metropolitan area of Belo Horizonte, South and Midwest regions of Minas Gerais state

• High quality concessions portolio, combination of young and mature concessions
• Assets located in Sao Paulo and Minas Gerais states, the wealthiest regions in Brazil (50% of Brazil's GDP and 49% of the national car fleet) and highest vehicle penetration

840,8

Traffic Resilience

Following the economic crisis in the years 2014-2017, traffic showed resilience mainly driven by heavy traffic

• Traffic reduction in 2020 due to Covid pandemic was about -6.2%
• In 2021 traffic registered full recovery overtaking 2019 levels by 1.4%

Traffic Evolution (equivalent axles)

Overseas Motorways - Poland

Crucial backbone of the Kraków – Katowice Area

• Maintain the current high level of operating performance
• Manage the handback to the Grantor at the end of the concession in 2027

2021 Results and 2024 Outlook

(1) LfL growth excluding Triangulo do Sol (2) Including minimum revenues guarantees and subsidies of Chilean concession contracts, not included in IFRS reported EBITDA (3) Of which, Atlantia's share is c. €580m, post withholding tax in Chile

Aeroporti di Roma

Marco Troncone| CEO, ADR

The Gateway to Italy

Traffic 2019 KPIs

Catchment area

• 43.5 Mpax in 2019, short haul & long haul
• C. 100 Airlines, full service and low cost
• C. 200 destinations

Well connected to Rome and other cities ▪ Linked to main motorways and downtown by

• train (intermodal high-speed rail to/from Florence/Venice) and shuttle bus
• Planned expansion of rail and road accessibility
• Close to the cruise terminal of Civitavecchia Close to the sea and to non-urbanized areas
• Noise efficient take-offs and major potential to expand with limited environmental impact

Traffic

• 5.9 Mpax in 2019 (35% capacity reduction from 2021)
• 2 Low-Cost Airlines and General Aviation
• C. 60 Destinations short haul

Secondary airport positioning

• 14 km from the city center
• Connected by local transport and shuttle bus
• One of the airports that has best managed to capture low-cost traffic, encouraging a strong growth in tourist traffic in Rome and the Lazio region

	3 runways	1 runway
gures	2 passenger terminals	2 passenger terminals
fi ain	21,131 passenger parking spaces, 124 shops 900 passenger parking spaces, 4 shops
M	No major competing airports in the catchment area

Fiumicino Ciampino Key assets highlights

• 1 airport system in Italy with long term concession (recently extended to 2046)

• Consistent leadership in quality, ranking #1 according to ACI (for 5 years in a row)
• Robust traffic growth drivers: strategic location, compelling destination, "one city, two capitals". Well diversified carriers base and further potential from intermodal integration

Effective response to pandemics: robust governmental support package, supportive covenant holiday window, strict cost discipline confirming operational efficiency

Flexible capex plan adaptable to traffic evolution. Capacity development from 36 Mpax in 2012 to 44 Mpax in 2019 and 64 Mpax expected in 2025. Long term potential up to 100 Mpax

Profound sustainability / innovation transformation in progress

Sound financial profile and robust liquidity position, with progressive conversion of financial structure to innovative Green / Sustainability concepts

Key Pillars of Our Strategic Roadmap

Rome is a Robust Origin and a Compelling Tourism Destination

A

Market context supporting robust recovery

	Strengthening supply	Solid demand drivers	Active role for safe travelling
Hub Carrier	ITA is a new company with a strong liquidity ▪ and equity position (€700m initial equity) Sale process in place aimed at new strategic ▪ alliances / combinations ITA BP: 105 aircrafts in the next years ▪ (initially 52)	▪ Inbound leisure traffic flows - expected faster recover vs business traffic	▪ Robust health security measures recognized as world class (hygiene, health screening, social distancing, physical protection)
Long haul carriers	▪ Constantly growing segment during pre-covid years Despite strong restrictions in 2021, good ▪ recovery performances vs 2019 in the North American and Middle East markets ▪ Potential of new markets and increase of penetration in the high potential routes	- potential for high growth on long-haul and intra-EU traffic Potential for a market share growth ▪ win back of traffic leakages (3.3 mpax in - 2019) through other European-hubs - enlargment of domestic catchment area through rail-air integration	▪ Realization of major in-airport anti-covid facilities ▪ Multiple awards received
Low Cost Carriers	Good performances in 2021 (more than 60% ▪ of recovery of 2019 volumes for Ryanair, almost 100% for Wizz) Strong CASK competitiveness and solid ▪ financial position Complementary positioning of the main LCC ▪ carriers at FCO		▪ Design & implementation of safe travel protocols (covid tested flights)

A

Full ability to capture future growth potential

Submitted new sustainable masterplan for doubling capacity. Flexible investment plan worth up to €8bn until 2046

Short term development – completion of FCO South Long term development

Development of a new terminal and new piers east of T1, reconverting existing infrastructure, and of a new runway, with very limited consumption of land, enabling significant noise benefits for local communities

Excellent Customer Service

Survey ACI World – "Airport Service Quality": European Airports Panel >40M PAX «Overall Satisfaction» Index 2010-2021 FY

A

Source: ACI World – Airports Council International: Airport Service Quality - Survey Report.

Panel EUR >40Mpax/y: AMS: Amsterdam; BCN: Barcellona; CDG: Parigi Charles de Gaulle; LGW: Londra Gatwick; LHR: Londra Heathrow; MAD: Madrid; MUC: Monaco; SVO: Mosca Sheremetyevo. Note: (1) APT3 joined >40Mpax/y panel from 1QTR 2016; APT2 joined >40Mpax/y panel from 2QTR 2017; APT1 joined >40Mpax/y panel from 1QTR 2018.

ADR Regulation

Supportive government measures

• Extension by 2 years of the airport concession to 2046 has been already obtained
• State aid of €735m awarded to the airport sector (of which ADR share is €219m) to cover initial losses in 2020, compliant with EU principles
• Covid damage recovery: ART released a methodology to recover economic losses in 2020-2021 on regulated services, net of the other elements of economic compensation

Returns on the regulated perimeter

• Dual till system, aligned with applicable ART model
• RAB of €2.2bn
• No major incentives granted to airlines and preserved returns on the regulated perimeter
• Traffic Risks Protections: deviation vs traffic planned in the period out of a certain tolerance band allows for recovery in the following period

Competitive tariffs

• Intention to offer a competitive tariff proposition oriented to a substantial stability and long-term visibility
• Long term stability still enabling allowed returns on the regulated perimeter and respect of cost correlation principles, over a longer period of time
• Supportive commercial proposition in the recovery phase

Aviation tariffs - benchmark 2021 (€/departing pax) (Boeing 737 international flight simulation)

Notwithstanding the interactions with the regulator during 2021, the new tariffs for the regulatory period 2022- 2026 have not been defined yet. ADR maintains for 2022 a temporary tariff aligned with 2021

Operational and investment efficiency

Leading operating cost performance

FCO vs other European airports (opex / pax, EUR, 2019)

Most efficient airport in EU

Efficient asset design and utilization

Evolution of Capex Intensity (sqm / pax)

Infrastructural design and asset utilization based on the best value-for-money trade-off

State of the Art - Retail Offering

Customer centric retail proposition

Extra-Schengen area	• High New extra-Schengen area opened at FCO in • value 2017 (+45% spend/pax achieved since category / 2016) brand mix Customer journey enhanced by the "Made in • ≈50% Italy" flavour and boosted by the most • important Italian and international luxury luxury brands shops
Dom-Schengen	• Largest Lagardere Duty Free shop globally opened in T1 in November 2021 • Opening of the new Dom-Schengen retail plaza expected in 2022 Presence of the best international brands • and Made in Italy Distinctive Food Court concepts addressing • all passenger segments + 5,000 sqm from the opening of the new retail plaza
	Significant further value to be extracted in the non-avio business thanks to retail offering expansion and growing leverage on digital propositions, as well as other development projects (e.g., real estate)

A New Smart and Sustainable Airport Model

C

Scope 3: The Areas of Immediate Focus

Airport Emissions

Scope 1 Scope 2 From airport controlled source From purchased electricity

From other sources related to the activities of an airport

Scope 3 objectives set in the SLB Bond 1)

Focus on Scope 3

Sustainable Aviation

• Availability of SAF (Sustainable Aviation Fuel): Reduction of emissions produced by airplanes during cruise, landing, taxing and take-off. In particular, a strategic partnership with ENI started the 15th October 2021 to make the SAF available at FCO
• SESAR program projects: Taxi time optimization and airplanes movements optimization to reduce fuel consumption

Green Accessibility

• Increased EV penetration: Electric vehicle (BEV + PHEV) from 1% to 16%
• ca. 500 charging points, commercial policies
• Increased rail access from city: +25% of the usage
• Upgrading of the rail stations to accommodate additional services
• The impact will be a reduction of carbon intensity (CO2/pax) in line or exceeding SBTI targets (currently -22% by 2030)

Focus on the Intermodality Project

New integrated train + airplane offering

Descriptions Objectives

• Integrated project with RFI for the growth of accessibility on rail for
• Enhancement of HS train connections with the central area of Italy
• New connections (Civitavecchia, San Pietro)
• Upgrading of the railway station and rails (from 3 to 5). The new configuration of the station includes 2 additional rails located externally (east and west side) and the extension of the rails on the west side over 40 m
• Development of integrated ticketing (train + airplane)
• Integrated management of passenger services and baggage

• Improvement and development of information to passengers on flights and on the movement of trains, within convoys, stations and airport terminals

• Creation of a best in class «intermodality product» to get easier, faster and high quality experienced the connection train + airplane for people, taking in consideration last EU orientation for links under 2h30' between two cities that must be served by HS train

• Progressive phase out of carbon intensive very short haul flights while multiplying connectivity opportunities for passengers
• Expansion of the catchment area to feed long haul traffic

Innovation Strategy: an Open Model

			Approach to innovation
	Launch of the "Call4ideas" project: in particular, to find	Improvement flight punctuality and capacity increase	Real time management of Terminal areas and Airside areas	Automation of Terminal activities
Call4Ideas	new ideas and solutions to improve operations in 6 areas	Increase the "Passenger Digital Experience"	Reduction of energy consumption	Build a digital environment to increase pre travel engagement
Innovation Hub	Creation of the first Italian startup incubator dedicated to the aviation sector		ADR offers the startups selected in the Call4Ideas an incubation program including a series of services with the aim to create a strong engagement and help the startups in their development path
"Airports for innovation"	Creation of an international network of airports dedicated to innovation and sustainability	PlugandPlay	ADR and other likeminded international leaders joining forces. ADR established several partnership with other airport operators and green transition	under the "Airport for innovation" network to foster digital and

C

Urban Air Mobility (UAM) market context						Atlantia/ADR in the UAM space
Urban Air Mobility Sector	Urban Air Mobility refers to new sustainable air transport enabled by eVTOL, vertical take-off aircrafts for a series of market use cases					Atlantia investment in Volocopter Atlantia invested in the eVTOL
	Air taxi		Inspection services	Other services		manufacturer Volocopter
			Freight transport	Agriculture support
Air Taxi service players	Players	Activities		Main companies		UAM project Rome Atlantia fostered cooperation between Volocopter and ADR to start a project to
	eVTOL operators	piloting	Aircraft manufacturers, and ticketing	Volocopter, eHang, Joby, Lilium, Archer		evaluate potential air taxi services in Rome and foresee a path to launch
	Infrastructure providers	infrastructure	Take-off/landing providers	Skyports, Skygate, ADP, ADR/UrbanBlue		operations
	Ground handlers	Aircraft ground ops like cleaning and recharging				Urban Blue To leverage the know-how matured in
	Air space control	Navigation route	control, UTM and verification	dFlight, ENAV (in italy)		UAM space and its experience in aviation, ADR entered infrastructure
	Other services		Maintenance, interoperability, parkings			business founding Urban Blue togheter with other 3 airports

ADR 2021 Results

Total traffic up 22% YOY in 2021

€528m(*)

Revenue (+94%)

€262m

€175m

Capex

EBITDA

2021 performances (28% of 2019 ADR traffic), sustained by

• (i) Domestic and EU segment (41% and 30% of recovery respectively) especially due to good performances of Ryanair (70% of recovery on domestic and 48% on EU at FCO) and Wizz (new carrier in the domestic market and recovery of 74% in the EU market at FCO);
• (ii) Extra EU market, particularly in the short haul segment (20% of recovery, also due to new routes from Ryanair and Wizz at FCO) and long haul segment in which the best performances have been realized in the North America and middle east market

Resources optimization

Continuing cost saving initiatives started in 2020:

• Operations concentrated in FCO Terminal 3 with temporary closure FCO Terminal 1 and boarding gates
• Government support on labor cost ("Cassa Integrazione"): overall workforce reduced by nearly 1,200 FTEs (-35%) vs 2019

Capex

Traffic

Continuous efforts in airport upgrading

Financing

ADR issued a Sustainability Linked Bond in April 2021 for €500m

(*) Including €219m of Covid recovery fund

2024 Outlook

Traffic

• Recovery of pre-pandemic levels expected after 2024

Revenues

• Stable tariff expected stable in the 2022 2024
• Increase of non-regulated activities performance (especially in the retail dom-Schengen segment)

Opex

• Continuous efficiencies on operating costs due to digitalization of the operations, new security processes, innovation and gradual recovery of productivity

Capex

• Commitment for the execution of more than €900m investments, including refurbishment of Terminal 3, Terminal 1 extention and the new domestic-schengen retail area

Aèroports de la Côte d'Azur

Franck Goldnadel| CEO, ACA

Trophy Airport with a Unique Location

Strategic and attractive location with resilient outbound traffic, exposed to affluent leisure tourism which should rapidly recover from COVID crisis

High Quality Infrastructure for Top Clients

Update on Covid-19 Impact on Traffic

• Despite stringent health measures and travel restrictions, Nice Côte d'Azur Airport ended 2021 with 6.5 Mpax (a recovery of 45% of 2019)
• While the first semester was strongly affected by the lockdown measures, with an average recovery rate of 23% on 2019, the second semester recorded an average recovery rate of 64% compared to 2019
• Though the traffic is still largely focused on domestic routes (69% recovery rate) and Schengen routes (39.8%), international traffic recovered primarily in the second semester

Major Development Programs

Major development programs enhancing the attractiveness of Nice airport by strengthening the commercial offering

Promenade Airport Program

Terminal 2 & 3 Expansion Program

Key strategic priorities

• Development of new routes, attracting new passengers into the Cote d'Azur Area

• Evaluation of strategic opportunities for international general aviation activities

• Ongoing discussions with the Grantor on concession rebalancing to recover the impact of Covid

• Progressive recovery of return on regulated assets

Aviation Operations Regulation Non Aviation Activities

• Prepare retendering process in 3 years, aiming at category mix improvements

• Finalize real estate development projects

• Deployment of investment plan according to capacity growth schedule (Terminal 2.3 extension)

• Promenade project commissioning

• Advancement of all compliance, refurbishment and security interventions

• Deliver a better passenger experience through innovative technologies, reducing waiting time and offering a seamless travel experience

• Continue development of Urban Air Mobility with Urban Blue, project backed by Atlantia, aimed at developing ground facilities at international level

Capex Innovation Sustainability

▪ Follow up on the sustainability agenda to reach net zero emissions without any offset by 2030, respecting commitments taken with the Airport Carbon Accreditation level 4+ awarded in August 2021, as the first airport group in France, and the second in Europe

ACA 2021 Results

Total traffic up 43% YOY in 2021

Traffic

Despite stringent health measures and travel restrictions, ACA ended 2021 with 6.5 Mpax (45% of 2019 volume)

Tariff

Average tariff increase of +3.2% starting Nov, 1st

Resources optimization

Cost efficiencies started in 2020 successfully continued in 2021, operations carried out in Nice at T2 only (except for summer where T1 was used to manage traffic peak)

Capex

Safety, security, sustainable, compliance and operational continuity investments were fully confirmed and aligned to the expenditure of 2020

Financing

€150m refinancing package, including dual tranche bond issuance in July for a total amount of €90m and bilateral loans with French banks for €60m.

€174m

€56m

€44m

Capex

EBITDA (+180%)

Revenue (+30%)

2024 Outlook

Traffic

▪ Recovery of pre-pandemic traffic levels by 2024

Revenues

▪ Optimization of non-regulated activities performance

Opex

▪ Reopening of Terminal 1 and restoration of full operations of the infrastructure starting March-2022

Capex

▪ Commitment for the execution of c.€220m investments, including Terminal 2.3 expansion and Promenade project

Financing

▪ Financial capacity at ACA level already secured in 2021 to support 2022 and 2023 capex commitment

Figures includes Azzurra Aeroporti holding

Gabriele Benedetto| CEO, Telepass Telepass

Telepass Offering: Main Pillars

A company with a clear purpose: to free up time and make life simpler for people on the move

A Multi Device Payment Platform…

1) On Board Unit

… for a Unique Experience throughout the Telepass Ecosystem

A Unique Ecosystem, for an Integrated Mobility

A diversified earnings base evolved from 100% tolling until 2015 to an increasingly diversified revenue stream with greater weight of profitable services in 2021: 13% insurance products, 9% mobility services.

Telepass Business Model

Telepass 2021 Results

Revenues up 15% YOY mainly thanks to cross selling

Customers

9.4m active OBUs (+4%) with growing number of Mobility customers (+18%), 19m mobility transactions (+37%) and 45k MTPL policies sold. Launch of new mobility services through Telepass Pay APP, such as

• EV recharge
• bus and public transport
• car inspection
• pagoPA

Revenues and EBITDA

Increase in revenues (+€34m, +15%), thanks to tolling customer base growth and ARPU increase (+6.8%), mainly due to an increasing penetration of mobility and insurance products.

Opex up +31%, due to fixed costs after the ASPI carveout, the distribution strategy redesign (new channels startup), the strengthening of the organization (primarily staff costs) and the Antitrust fine (€2m).

Capex

Capex mainly referring to the platform investments and OBU purchase. 2021 including investments to complete the carveout from ASPI's infrastructure from old data centers to a private cloud

€268m

€121m

EBITDA (+3%)

€81m

Capex

Revenues (+15%)

Our View Looking Forward

Increase Customer Base B2C

• Lead the Italian market, thanks to
• ‒ Boost marketing investments, to further strengthen Branding and Ecosystem awareness, and exploit the competitive advantage gained over the new entrants
• ‒ Customer lifetime overcame 7 years

• ‒ A more capillary and dynamic proximity channel, reaching a network of ~1.000 POS

• Increase:

• ‒ Penetration of Mobility (up to ca. 17% on Customer Base), expanding the range of services with a city-centric approach and ensuring widespread merchant coverage in key cities
• ‒ Penetration of MTPL insurance (up to ca. 5% on OBUs base), with a specific focus on parametric and instant policy segment
• Keep leveraging and further empower the data centric approach, unleashing distinctive Telepass value proposition (i.e., insurance products)

Grow ARPU B2C

Our View Looking Forward

T - Business

Consolidate Technological Leadership

▪ Market the newly released Corporate platform, optimizing business mobility and corporate payments needs for Large Corporations and SMEs

• Complete the ongoing digital transformation process further increasing competitive advantage of Telepass ecosystem
• Starting from 2024 IT costs will be stabilized, becoming recurring
• Step up telematics and further improve K1 OBU, the new smart device
• Innovate mobility bringing new technologies to the forefront (es. Blockchain, smart hub for EV recharge)

78

Increasing relevance of Insurance and Corporate services

EBITDA

Revenues

Marginality progressing at faster pace compared to revenues (ca. +21% vs ca. +14% CAGR), significantly increasing profitability: up to c. 54% EBITDA margin, +9bps vs 2021

Consolidated revenues expected to grow at ca. 14% CAGR ('21–

'24), supported by growth across all Business Lines

Capex

High CAPEX investment on IT in 2022 mostly due to strategic extraordinary projects (e.g. complete ASPI independence, insurance, new channels platform, etc.), reducing spending from 2023 onwards

Tangible Capex driven by OBUs purchase (DSRC & SAT)

2024 Outlook

Closing Remarks

Carlo Bertazzo| CEO, Atlantia

Our Key Priorities for 2022

• Continuous strategic support to our current portfolio
• Yunex: Closing and integration plan
• Closing of ASPI's disposal
• Buyback up to €2bn
• Capital deployment
• Sustainability and innovation

EBITDA Breakdown

Financial Strength

(Holding) HIT Group Maturities up to 2024 vs Available Liquidity (Infraestructuras) (€bn) • No maturities before Sept 2023: €2.5bn term loans voluntary prepayments and €1.25bn RCF voluntary repayment mainly financed through existing cash, bond issuance (€1.0bn), proceeds from Telepass disposal (€1.1bn), and dividends from Abertis (€0.3bn) • Repayment of the €752m loan associated with the funded collar on Hochtief shares • ASPI currently considered as a "discontinued operation" • First airport in the world to launch a sustainability linked bond worth €500m • SACE-guaranteed loan €200m voluntary prepayment (maturing in 2022/2023) • New €750m hybrid bond issued in Jan21 (accounted for as equity under IAS32) • In Feb22, cash-in of €1.07bn from capex compensation under AP7 Agreement. Disputed on remaining amounts expected to be resolved by Supreme Court. • In Feb22, prepaid €0.5bn of syndicated loan (original maturity May24) • €600m bond successfully placed in May21 (0.625% coupon) at HIT holding level to complete the pre-funding of €1.4bn bond repaid in Oct21 • €1,000m bond successfully placed in Jan22 (1.475% coupon) at HIT holding level. Proceeds will be used to pre-pay high fixed rate bank loans at Sanef. Key financial transaction 2021 and YTD ACA Group • €150m refinancing package, including dual tranche bond issuance in July21 for a total amount of €90m and bilateral loans with French banks for €60m 0,7 2,4 2,6 2,5 1,4 0,7 1,4 0,3 0,1 0,1 2,0 4,5 2,5 0,2 0,2 5,5 1,0 Group

Note: (i) Gross debt includes notional value of bank debt and capital markets debt (excluding hedging amounts and hybrid bonds); (ii) Atlantia Group cash does not include €493mn deposits held by subsidiaries. (1) Of which €3.8bn notional guaranteed by Atlantia;

(2) Atlantia holding cash on a statutory basis is equal to €806mn including €120mn term deposit on Telepass; Telepass debt (€300mn) do not include intercompany debt with Atlantia (€120mn) (3) Abertis Finance €2.0bn hybrid bonds (perpetual, non-callable until 5.25 and 6.25 years from the respective issuance) accounted as equity under IAS 32

<<<<<<<<<<<< ESG Strategy in Detail

Axis	Ambitions and interim targets at 2023	2021 performance - progress on milestones	2030 Goals and Ambitions
E	Climate change and energy transition 20% reduction of Scope 1 & 2 CO2 emissions (vs 2019) 30% of electricity consumption from renewable sources	-14% Scope 1+2 CO2 emissions vs 2020 (-24% vs 2019) 32% of electricity consumption from renewable sources	Science-based Net Zero Climate Action Plan for direct CO2 emissions
	Fostering circularity to minimize the use of natural resources 90% waste reused/recycled - Airport segment 70% waste reused/recycled - Tool roads segment	90% Airport segment 65% Toll roads segment	50% reduction of Scope1+2 CO2 emissions (vs 2019) on the way to Net Zero for direct emissions by 2040 77% of electricity consumption from renewable sources 22% reduction of Scope 3 CO2 emissions (vs 2019): Airports CO2/pax on downstream Scope 3 emissions (airport accessibility)
PLANET	Managing operations responsibly >75% of revenues covered by a certified management system (ISO 14001)	32% of revenues have a certified management system in place (ISO 14001)
	Preserving and restoring biodiversity Offsetting additional land used for existing infrastructure by rewilding of equivalent land with a target of no net biodiversity loss	No major expansion projects in 2021	Toll roads CO2/km travelled on upstream Scope 3 emissions (purchased goods and services)
	Equal access and participation of women 30% of women in middle and senior management positions and among members of investees' management and oversight bodies appointed by Atlantia	29% women in middle and senior management positions; 45% women among appointments made by Atlantia in 2021 (29 appointments in 2021, 13 women and 16 men)	Accelerate towards gender balance, especially
S	Protecting fundamental freedoms and respect for human rights >70% of revenues subject to human rights verification/audit	Human rights further reinforced in the Code of Ethics, thereby paving the way in which we commit to operate. Development of a verification/audit process is work in progress for global rollout in 2022.	among management and professional leadership roles, across subsidiaries No pay gap among comparable employee groups at all
PEOPLE	Promote a sustainability culture across the organization >70% of management receive sustainability training >30% of employees involved in projects/initiatives impacting UN SDG goals	>40,000 hours of sustainability-focused training delivered to 6,000 employees ≈100 employees involved in UN SDG initiatives (the social distancing imposed by the Covid-19 pandemic impacted the ability to progress)	organization levels across subsidiaries Keep improving workplace safety to align with best in-class levels
	Caring for workplace wellbeing and safety <14 work-related accidents per million of hours worked (LTIFR)	12 work-related accidents per million of hours worked	Fostering employees' contribution to the communities where we operate by supporting giving back activities also via paid leaves
	Growing trusted relationships with stakeholders Positive assessment of Atlantia's reputation by its stakeholders	+4,9 pts in corporate reputation (April-December 2021), falling in the high-end range of best performing companies, as measured by an international third -arty vendor (RepTrak)
G	Providing public access to relevant information 100% of subsidiaries publish a sustainability report	Subsidiaries accounting for 85% of revenues published a sustainability report
	ESG-linked remuneration schemes are in place for Atlantia and subsidiaries accounting for Fostering sustainable success and a resilient business model >95% of revenues; multi-year ESG plans are in place for subsidiaries making up >90% of 100% of senior management remuneration's schemes linked to ESG revenues metrics, alongside economic, financial and operational metrics		Promote value sharing with employees by wide
PROSPERITY	Acting with integrity along the value chain 100% of critical suppliers verified/audited under ESG criteria over 3y	11% of critical supplier active in 2021 were audited on ESG criteria and 22% of them were assessed vs ESG criteria	spread profit/result sharing schemes across subsidiaries
	Ensuring information and data security 100% of subsidiaries adopt an information security and cybersecurity policy	89% of revenues are covered by a cybersecurity strategic framework 24% of revenues are covered by a specific cybersecurity policy 82% of revenues adopt business continuity / contingency plans and incident response programs	85

ESG Ratings & Indexes

Ambitious sustainability plan and commitment are assessed by all the leading international rating providers

ESG RATINGS	SCALE	MOST RECENT	Vs SECTOR AVERAGE
	D- / A+	C
	CCC / AAA	BBB
	0 / 5	3.8
	D- / A	B
	40+ / 0	14,5 (Low Risk)
	D- / A+	C+
	0 / 100	59
ESG INDEXES
OTHER AWARDS

Group Structure

Motorways

Airports

Mobility Services

Other Abertis

Other Atlantia

Discontinued Operations

Contacts:

Investor Relations investor.relations@atlantia.com www.atlantia.com

Disclaimer

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

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

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

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