Aeroporto Guglielmo Marconi di Bologna S p A : Consolidated Q1 2021 Results

Q1 2021 RESULTS

BOLOGNA, MAY 14TH 2021

HIGHLIGHTS

Q1 2021

FINANCIALS

2021 KEY UPDATES

GROUP HIGHLIGHTS

2	AEROPORTO G. MARCONI DI BOLOGNA S.p.A.

HIGHLIGHTS

Q1 2021 FINANCIALS

2021 KEY UPDATES

EUROPEAN TRAFFIC TREND IN Q1 2021

According to data published by ACI Europe, during the first months of 2021 there has been no evolution in the traffic trend in Europe compared to the end of 2020: the restrictive measures still in force and the slow progress of vaccination campaigns have not allowed so far an improvement in the traffic performance within the continent.

Also at the beginning of 2021, airports in the EU area were affected to a greater extent by the effects of the pandemic

than non-EUairports: once again a crucial role was played by the better performance of the domestic component (which reported positive data in non-EU countries, especially Turkey and Russia) compared to the international traffic.

During the first quarter of 2021 the persistence of the Covid- 19 pandemic resulted in a loss of 395.5 million passengers compared to the first 3 months of 2020 (-82%).

July 2020 - March 2021 Trend

var% yoy

3	Source: ACI Europe. The sample considered represents 86% of European traffic as a whole.

March 2020 - March 2021 Trend

var% yoy

AEROPORTO G. MARCONI DI BOLOGNA S.p.A.

HIGHLIGHTS

Q1 2021 FINANCIALS

2021 KEY UPDATES

4

TRAFFIC TREND OF MAIN ITALIAN AIRPORTS IN Q1 2021

Top 10 Italian Airports per number of passengers in Q1 2021

1.200.000

-60%

1,034k Pax

676k Pax

187k Pax

414k Pax

381k Pax

284k Pax

255k Pax

148k Pax

54k Pax

211k Pax

1.000.000						(67,2%)																				-65%
								(70,1%)
800.000														(71,2%)											-70%
																									-75%
600.000		(82,2%)		(82,3%)																		TRAFFIC IN ITALY:		-80%
																	(84,9%)					-82.1% vs. Q1 2020
																		(86,0%)
											(86,2%)
400.000																					-85%
																					(89,0%)
																										-90%
200.000																								(94,5%)
																									-95%
0																										-100%
Rome FCO	Milan MXP	Milan LIN			Catania	Bergamo		Palermo		Bologna		Venice			Naples		Rome CIA
									Domestic Pax			International Pax	Var % yoy

Italian airports recorded a new heavy drop in traffic during the first months of 2021, with no difference from the performance reported at the end of 2020, closing the quarter with only 4.6 million passengers, 82.1% less than those reported in the same period last year (-87.8% vs 2019).

In particular, international traffic closed the quarter reporting a -90%on 2020 and a -93%on 2019, due to quarantine periods and other restrictions imposed by individual States on air travel. The reduction in domestic passengers, although lower, was still significant and equal to -68% on 2020 (-78.5% on 2019).

Looking at the traffic of the top 10 airports, the airports with a prevalence of domestic traffic (i.e. Milan Linate, Catania and Palermo) have suffered a lower than the average drop in passenger volumes. On the contrary, airports that traditionally have an above average component of international passengers (Rome Ciampino, Venice, Naples) have seen traffic decreasing by over 85%. Bologna is the seventh Italian airport in the first 3 months of 2021.

Source: Assaeroporti.

AEROPORTO G. MARCONI DI BOLOGNA S.p.A.

HIGHLIGHTS

BLQ TRAFFIC PERFORMANCE DURING Q1 2021

In the first quarter of the year, total passengers were 209,802 (-85.0% on the same period of 2020), with 3,100 movements (-75.7%) and 9,077 tons of goods transported (+10.9%).

As reported for European and Italian traffic, the first months of 2021 still show no signs of improvement over 2020 for Bologna Airport as well, except for the cargo sector.

With the start of the summer flight schedule, from the last weekend of March, and above all with the intensification of the vaccination campaign, the hope is that summer will represent the beginning of a turnaround, towards a progressive recovery of traffic.

Q1 2021 FINANCIALS

2021 KEY UPDATES

35.000

30.000

25.000

20.000

15.000

10.000 Issue in 2020 of the first decree containing

restrictive measures

5.000

0(*)

-73.4%	-85.0%
vs 2019	vs Q1 2020

Closure of the runway for maintenance works between 11th and 21st September 2020

5

		Jan 2019-Mar2020(**)		Jan 2020-Mar2021(**)
(*) Leap year in 2020.
(**) Figures include interlining passengers and exclude general aviation traffic.			AEROPORTO G. MARCONI DI BOLOGNA S.p.A.
NOTE: Please note that the day following the issue of the Prime Minister's Decree on 23rd February 2020 is considered as the beginning of COVID-19

health emergency in Italy.