Toscana Aeroporti S p A : Half-Year Financial Report at June 30, 2022

Toscana Aeroporti Group

INTERIM FINANCIAL REPORT

AT 30 June 2022

This report is available in the Investor Relations section website at www.toscana-aeroporti.com

Toscana Aeroporti S.p.A.

Via del Termine, 11 50127 Florence - www.toscana-aeroporti.com R.E.A. FI-637708 - Fully paid-up Share Capital Euro 30,709,743.90 VAT number and tax code: 00403110505

Contents
1. COMPOSITION OF THE SHARE CAPITAL OF THE PARENT COMPANY...................	4
2. THE TOSCANA AEROPORTI STOCK...................................................................................................	5
3. CORPORATE GOVERNANCE...................................................................................................................	7
4. MACROSTRUCTURE OF THE TOSCANA AEROPORTI GROUP......................................	7
5. COMPOSITION OF CORPORATE GOVERNING BODIES .....................................................	9
6. HIGHLIGHTS ......................................................................................................................................................	10
7. THE MACROECONOMIC SCENARIO AND THE AIR TRANSPORT INDUSTRY...11
7.1 TUSCAN AIRPORT SYSTEM TRAFFIC TRENDS.......................................................................	12
...............................................................	14
......................................	18
8. SIGNIFICANT EVENTS OF THE FIRST 6 MONTHS OF 2022 ..........................................	20
9. RESULTS OF OPERATIONS FOR GRUPPO TOSCANA AEROPORTI.........................	21
9.1 Consolidated Income Statement ..................................................................................................	21
9.2 Consolidated Statement of Financial Position ...............................................................	26
9.3 Cash flow analysis ..................................................................................................................................	28
9.4 Consolidated Net Financial Position.......................................................................................	29
............................................................................................................	30
11. HUMAN RESOURCES.................................................................................................................................	31
12. RELATIONSHIPS WITH THE OTHER ENTITIES OF THE GROUP AND WITH
RELATED PARTIES.............................................................................................................................................	32
13. INFORMATION ON THE PARENT COMPANY, ITS SUBSIDIARIES AND THEIR
RELATIONSHIPS ..................................................................................................................................................	34
13.1 Parcheggi Peretola S.r.l........................................................................................................................	34
13.2 Toscana Aeroporti Engineering S.r.l..........................................................................................	35
13.3 Jet Fuel Co. S.r.l..........................................................................................................................................	36
13.4 Toscana Aeroporti Handling S.r.l.................................................................................................	36
13.5 Toscana Aeroporti Costruzioni S.r.l. ...........................................................................................	37
14. MAIN RISKS AND UNCERTAINTIES TO WHICH THE GROUP IS EXPOSED ....	37
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15. SIGNIFICANT EVENTS OCCURRED AFTER THE CLOSING OF THE PERIOD AT

30 June 2022...........................................................................................................................................................	41
16. OUTLOOK ..........................................................................................................................................................	42
CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS	FOR THE
PERIOD CLOSED 30 JUNE 2022 .............................................................................................................	43
EXPLANATORY NOTES TO THE CONDENSED CONSOLIDATED INTERIM
FINANCIAL STATEMENTS AT 30 JUNE 2022 .................................................................................	48
ANNEXES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL REPORT
2022 ..............................................................................................................................................................................	87
CERTIFICATION OF THE CONDENSED CONSOLIDATED INTERIM FINANCIAL
REPORT.......................................................................................................................................................................	91
LIMITED AUDITING ACTIVITY REPORT BY PWC .........................................................................	92

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Dear Shareholders,

The Consolidated Interim Financial Report

compliance with Legislative Decree no. 58/1998 and subsequent amendments, as well as

This Consolidated Interim Financial Report includes the Report on Operations, which

of 2022, and the Condensed Consolidated Interim Financial Report.

The valuation and measurement criteria adopted for the preparation of the Condensed Consolidated Interim Financial Report included in the Consolidated Interim Financial Report at 30 June 2022 are those required by the International Financial Reporting Standard (IFRS) issued by the International Accounting Standard Board (IASB) and adopted by the European Commission according to the procedure described in Art. 16 of European Regulation no. 1606/2002 of the European Parliament and of the Council of 19 July 2002, with particular reference to IAS 34 concerning interim financial reporting. These accounting standards are the same as those adopted for the preparation of the Consolidated Financial Statement at 31 December 2021, except for the contents of the

standards, amendments and interpretations effective for annual

Galilei infrastructures and passenger services.

Accounting information as at 30 June 2022 includes data regarding the parent company roporti Engineering S.r.l.

consolidated using the full consolidation method.

The limited auditing activity for the Condensed Consolidated Interim Financial Report at

1. COMPOSITION OF THE SHARE CAPITAL OF THE PARENT COMPANY

We are providing below a list of the parties who, at 9 September 2022 directly or indirectly held an interest greater than 5% of the subscribed share capital of Toscana Aeroporti S.p.A. sting of shares with voting

disclosed pursuant to art. 120 of Legislative Decree 58/1998 and by any other information held by the Company.

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* Declarant, i.e. person positioned at the top of the control chain: Southern Cone Foundation

The subscribed and fully paid- and consists of 18,611,966 ordinary shares without nominal value.

owned by Corporación America Italy S.p.a. have been pledged until December 2024 as collateral to secure the debenture loan issued by the shareholder in question.

Shareholder Agreements

There are no Shareholder Agreements in place at the date of this Interim Financial Report.

Further details and contents are available on the official website of the company: www.toscana-aeroporti.com

section.

2. THE TOSCANA AEROPORTI STOCK

Toscana Aeroporti stocks (ISIN code: IT0000214293, Bloomberg ticker: TYA:IM;

Reuters ticker: TYA.MI) are listed in the Euronext Milan market of Borsa Italiana S.p.A.

As of 30 June 2022, the stock is traded for Euro 11.85 per share, for a corresponding capitalization of approximately Euro 220.6 million. Further details and contents are available at the official website of the company at this link: www.toscanaaeroporti.com.

The performance of the TYA stock during the first half of 2022 is reported below compared with the FTSE MIB Index:

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