AIA – Auckland Airport considers retail bond offer

5260966.3


Market Release
| 16 October 2023

Auckland Airport considers retail bond
offer

Auckland International Airport Limited (“Auckland Airport”) is considering an offer of fixed rate
bonds maturing in November 2029 to New Zealand retail investors and to institutional
investors.

Any such offer will be made pursuant to the Financial Markets Conduct Act 2013 as an offer
of debt securities of the same class as Auckland Airport’s existing quoted debt securities. The
bonds are expected to be quoted on the NZX Debt Market. It is expected that full details of the
bond issue will be released the week of 23 October 2023.

Auckland Airport has appointed ANZ and CBA as Joint Lead Managers.

Investors can register their interest with the Joint Lead Managers (details below) or a financial
adviser. Indications of interest will not involve an obligation or commitment of any kind. No
money is currently being sought and no bonds can be applied for or acquired until the offer
opens and the investor has received a copy of the offer document in relation to the bonds.

A copy of a market update presentation to be made by Auckland Airport is attached.

Ends

For assistance, please contact:

Campbell De Morgan
Treasury Specialist
+64 9 255 9029
campbell.demorgan@aucklandairport.co.nz


ANZ Bank New Zealand Limited (ANZ)
0800 269 476

Commonwealth Bank of Australia (ABN 48 123 123 124) (acting through its New
Zealand branch) (CBA)
0800 272 266

---

Confidential
Auckland Airport
Prepared by:
Strategy, Planning & Performance
16 October 2023
Update for debt investors

Confidential
Debt investor update
Important Notice
Page 2
Disclaimer
Thispresentationisforpreliminaryinformationpurposesonly,doesnotconstitutearecommendationbyAucklandInternationalAirportLimited(AucklandAirport),ANZBank(JointLeadManager),CommonwealthBankof
Australia(JointLeadManager)orTheNewZealandGuardianTrustCompanyLimited,noranyoftheirrespectivedirectors,employeesoragentstosubscribefor,orpurchase,anysecuritiesandnopartofthispresentation
shallformthebasisoforberelieduponinconnectionwithanycontractorcommitmentwhatsoever.Theinformationinthispresentationisgiveningoodfaithandhasbeenobtainedfromsourcesbelievedtobereliableand
accurateatthedateofpreparation,butitsaccuracy,correctnessandcompletenesscannotbeguaranteed.Nomoneyiscurrentlybeingsoughtandnobondscanbeappliedfororacquireduntiltheofferopensandthe
investorhasreceivedacopyoftheofferdocumentsinrelationtothebonds.IfAucklandAirportoffersthebonds,theofferwillbemadeinaccordancewiththeFinancialMarketsConductAct2013(FMCA)asanofferofdebt
securitiesofthesameclassasexistingquoteddebtsecurities.
AllofthedataprovidedinthispresentationisderivedfrompubliclyavailableinformationinrelationtoAucklandAirport(includingtheannualreportofAucklandAirportforitsfinancialyearended30June2023,unless
otherwiseindicated).Anyinternetsiteaddressesprovidedinthispresentationareforreferenceonlyand,exceptasexpresslystatedotherwise,thecontentofanysuchinternetsiteisnotincorporatedbyreferenceinto,and
doesnotformpartof,thispresentation.
Thispresentationmaycontainforwardlookingstatementswithrespecttothefinancialcondition,resultsofoperationsandbusiness,andbusinessstrategy,ofAucklandAirport.AucklandAirportgivesnoassurancethatthe
assumptionsuponwhichAucklandAirportbaseditsforward-lookingstatementsonwillbecorrect,orthatitsbusinessandoperationswillnotbeaffectedinanysubstantialmannerbyotherfactorsnotcurrentlyforeseeableby
AucklandAirportorbeyonditscontrol.Accordingly,AucklandAirportcanmakenoassurancethattheforward-lookingstatementswillberealised.
AllcurrencyamountsareinNewZealanddollarsunlessotherwisestatedandfigures,includingpercentagemovements,aresubjecttorounding.
NeitheroftheJointLeadManagersnoranyoftheirdirectors,officers,employeesandagents:
1.acceptanyresponsibilityorliabilitywhatsoeverforanylossarisingfromthispresentationoritscontentsorotherwise;
2.authorisedorcausedtheissueof,ormadeanystatementin,anypartofthispresentation;and
3.makeanyrepresentation,recommendationorwarranty,expressorimpliedregardingtheorigin,validity,accuracy,adequacy,reasonablenessorcompletenessof,oranyerrorsoromissionsin,anyinformation,statement
oropinioncontainedinthispresentationandacceptnoliability(excepttotheextentsuchliabilityisfoundbyacourttoariseundertheFMCAorcannotbedisclaimedasamatteroflaw).
AucklandAirportanditsdirectors,officers,employeesandagentsexpresslydisclaimanyandallliabilityrelatingtoorresultingfrominaccurateorincompleteinformationortheuseoforrelianceonalloranypartofthe
informationcontainedwithinthispresentation,excepttotheextentsuchliabilityisfoundbyacourttoariseundertheFMCAorcannotbedisclaimedasamatteroflaw.
Thispresentationisdated16October2023.

Confidential
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Appendices
Company
Overview
Building a
Better Future
Financial
Information
Company overview
Page 3

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Appendices
Company
Overview
Building a
Better Future
Financial
Information
Auckland Airport, a gateway to New Zealand...
Auckland Airport is the largest and busiest airport in New Zealand with an extensive domestic aeronautical network, connecting
Kiwis from Kaitaia to Invercargill
Page 4
Company
Overview
Building a
Better Future
Financial
Information
Appendices
•New Zealand’s largest commercial airport serving the country’s largest city
•Auckland Airport has an extensive domestic network serving 23 destinations
•Significant market share with 2/3rds of all domestic sectors either originating or
ending in Auckland
1
•Processed 9.6 million domestic passengers in the year to 30 June 2019 and 8.1
million in the year to 30 June 2023
•Hub to Air New Zealand, the country’s main domestic carrier
•Located on 1,500 hectares of freehold land 26km from Auckland’s central
business district
•Noflightcurfew,capableofoperating24hoursaday,7daysaweekfromasingle
3,535m runway
•Provision for a second runway in the future will cater for Auckland’s aviation
requirements for the foreseeable future
1.Pre COVID-19, for the 12 months to 31 Dec 2019

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Appendices
Company
Overview
Building a
Better Future
Financial
Information
and New Zealand to the world
Page 5
Company
Overview
Financial
Information
Appendices
With the restart of services and the launch of new routes, during 2023, 25 airlines connected Auckland Airport with 40 destinations
across the Middle East, Asia, the Americas and the Pacific Islands compared to 29 airlines and 43 destinations pre-COVID
Perth
Adelaide
Hobart
Sydney
Melbourne
Gold Coast
Brisbane
Norfolk Island
Noumea
Port Vila
Nadi
Papeete
Rarotonga
Niue
Apia
Nuku’
alofa
Honolulu
Santiago
Vancouver
San Francisco
Los Angeles
Chicago
Dallas Fort Worth
Houston
New York
Doha
Dubai
Kuala Lumpur
Singapore
Hong Kong
Guangzhou
Taipei
Shanghai
Seoul
Tokyo
Bali
1
Cairns
Sunshine Coast
Beijing
Shenzhen
New routes announced but yet to commence
AKL - LAX
Building a
Better Future

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Appendices
Company
Overview
Building a
Better Future
Financial
Information
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
110%
Jul-19
Oct-19
Jan-20
Apr-20
Jul-20
Oct-20
Jan-21
Apr-21
Jul-21
Oct-21
Jan-22
Apr-22
Jul-22
Oct-22
Jan-23
Apr-23
Jul-23
FY20FY21FY22FY23.
International (incl transits)Domestic
Passenger numbers recovering
Company
Overview
Financial
Information
Appendices
Monthly passenger numbers
With no domestic and international travel restrictions for most of the financial year ended 30 June 2023, the recovery in passenger
numbers continued with expectations that total traffic will be back to pre-pandemic levels during 2025calendar year
•Domestic passenger volumes quickly recovered, but
stabilised below pre-COVID-19 levels in the 2023
financial year reflecting lower capacity deployed from
domestic operators
•International air travel has continued to strengthen in
the period as connectivity has improved, connecting
New Zealand to more global destinations, and the
addition of further capacity to existing routes
•International air travel demand is now stronger than at
any time since COVID-19 first closed New Zealand’s
border and is expected to progressively recover further
as additional capacity is deployed
Building a
Better Future
90%
85%
FY24

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Overview
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Financial
Information
Company
Overview
Financial
Information
Appendices
Note:
Each percentage outlined above represents the bi-directional recovery of international passenger movements between New Zealand and that specific international market for the month of June 2023 compared to the same month in 2019. Source: Stats NZ.
New Zealand domestic at 90% shows recovery of the domestic travel market within New Zealand for the month of June 2023 compared to the month of June 2019. Source: Auckland Airport
North America
78%
Australia
83%
Europe
94%
Pacific Islands
95%
North Asia
87%
China
64%
Southeast Asia
86%
After over two years of lockdowns and travel restrictions, passenger numbers recovered quickly by June 2023 with strong demand
for both domestic and international travel
India
171%
New Zealand
domestic
90%
Latin America
102%
Africa
106%
Passenger markets are recovering
Building a
Better Future

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Company
Overview
Building a
Better Future
Financial
Information
8
ANZ Investor Day
Quality retail precinct
Page 8

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Appendices
Company
Overview
Building a
Better Future
Financial
Information
Extensive transport business
Page 9

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Company
Overview
Building a
Better Future
Financial
Information
A hotel portfolio that caters to a range of travellers
311
rooms
198
rooms
273
rooms
Page 10
(opening in 2024)

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Appendices
Company
Overview
Building a
Better Future
Financial
Information
High quality commercial property portfolio
Page 11

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Company
Overview
Building a
Better Future
Financial
Information
1,500 ha land holding enables a precinct wide vision
Note:
Above image reflects existing and proposed projects that form part of Auckland Airport’s proposed investment programme.
Page 12

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Appendices
Company
Overview
Building a
Better Future
Financial
Information
Company
Overview
Financial
Information
Appendices
The airport is a combination of regulated and unregulated activities
2019 Revenue composition - $738.2 million
17% Airfield income
25% Passenger services charge
30% Retail income
12% Rental income
9% Car park income
1% Other
3% Rental
3%
Other
Building a
Better Future

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Company
Overview
Building a
Better Future
Financial
Information
Company
Overview
Financial
Information
Appendices
$376
Strong recovery in commercial performance
The recovery in passenger movements during the year has driven improved performance across the commercial elements of the business
Retail income per PAX
1
in June 2023 up 57% on
the same month in 2022
Retail
$5.25
$8.22
Car parking average revenue per space in June
2023 up 52% on the same month in 2022
Car parking
$8.22$572
27%
90%
90%
Hotel occupancy in June 2023 up 63ppts on the
same month in 2022
Hotels
1.Income per PAX calculated as total retail income divided by total PAX,
excluding half of transit PAX movements
Building a
Better Future

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Appendices
Company
Overview
Building a
Better Future
Financial
Information
Company
Overview
Financial
Information
Appendices
FY23 financial results at a glance
1.Auckland Airport recognises EBITDAFI and underlying profit or loss are non-GAAP measures. A reconciliation between reported profit after tax and underlying profit after tax is included in the appendix
2.Net capital expenditure additions after $3.8 million of capital expenditure write offs and impairments
108%
Revenue
$625.9m
175%
EBITDAFI
$397.1m
Reported profit
after tax
$43.2m
77%
Final
dividend
4.0cps
Capital
investment
$647.1m
156%
2023 earnings per share of
2.93cps
Underlying
profit after tax
$148.1m
1,377%
Underlying profit per share of
10.06cps
2
EBITDAFI margin of 63%
1
1
Aeronautical
revenue
$219.5m
132%
Retail
revenue
$130.9m
477%
Parking
revenue
$57.7m
120%
Commercial
property
$142.9m
27%
$2.9bn portfolio valuation
54% of FY19
84% of FY19
Building a
Better Future

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Appendices
Company
Overview
Building a
Better Future
Financial
Information
Forecast recovery provides confidence in future demand
Appendices
Company
Overview
Building a
Better Future
Financial
Information
0
2
4
6
8
10
12
14
16
FY98FY99FY00FY01FY02FY03FY04FY05FY06FY07FY08FY09FY10FY11FY12FY13FY14FY15FY16FY17FY18FY19FY20FY21FY22FY23FY24FY25FY26FY27FY28FY29FY30FY31FY32
Millions
International including transitsDomestic
35-year passenger growth trend
International
including transits
Domestic
Note:
Historic data to FY23 represents total reported passenger movements. FY24 onwards reflects forecast total passenger movements as published in the AIA PSE4 price setting disclosure in August 2023
ForecastActual

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Appendices
Company
Overview
Building a
Better Future
Financial
Information
Gateway to
New Zealand
Benefiting from the recovery
in travel
Significant commercial
property portfolio
Significant freehold
asset base
Investment grade
credit rating
Proactive capital
management
Credit highlights
Company
Overview
Financial
Information
Appendices
$10.8bn
Book value of assets at
30 June 2023
A- stable
Standard & Poors
0
20
40
60
80
100
120
140
160
Jan-10Jan-11Jan-12Jan-13Jan-14Jan-15Jan-16Jan-17Jan-18Jan-19Jan-20Jan-21Jan-22Jan-23
Rent Roll ($m)
Building a
Better Future
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
110%
Jul-19
Oct-19
Jan-20
Apr-20
Jul-20
Oct-20
Jan-21
Apr-21
Jul-21
Oct-21
Jan-22
Apr-22
Jul-22
Oct-22
Jan-23
Apr-23
Jul-23
FY20FY21FY22FY23.
International (incl transits)Domestic
FY
24

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Company
Overview
Building a
Better Future
Financial
Information
Building a better
future
Page 18

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Company
Overview
Building a
Better Future
Financial
Information
Appendices
Company
Overview
Building a
Better Future
Financial
Information

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Company
Overview
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Financial
Information
Building a Better Future
Appendices
Company
Overview
Building a
Better Future
Financial
Information
Thriving enterpriseEmpowered communitySeamless connectivityEnduring infrastructureFuture resilience
A thriving commercial
community lies at the core of
the long-term success and
sustainability of our precinct. It
will encompass a wide range
of industries: from aviation and
tourism; to retail and
hospitality; to accommodation
and entertainment; to high
value exports and trade –a
place that New Zealanders are
proud of, as they connect with
each other and the world via a
thriving aviation network.
Together, we will create a
vibrant and dynamic
environment that drives
prosperity for our economy
We value our strong links with
the community and will
continue to actively contribute
to the wellbeing and growth of
local people. We will leverage
the resources of the aviation
precinct to empower and
create opportunities for people,
including our own incredible
team. We foster collaboration
and support to pave the way
for positive progress and
shared prosperity
We seek to be a connected
aviation precinct that enhances
travellers’wellbeing,
streamlines the travel
experience and optimises
maintenance and services.
With real-time responsiveness,
we will promptly address
events and traveller
management. Customers will
enjoy a seamless travel
experience and enhanced
services through our integrated
technology and data-driven
approach. We’re embracing
the future of aviation
connectivity.
As custodians, we think long-
term. Enhancing ground
transportation options,
embracing digital, and
investing in the future of the
end-to-end travel experience.
Our initiatives will cater to the
growing and evolving needs of
customers, partners, tenants
and visitors ensuring our place
remains at the forefront.
Together, we’ll achieve
increased efficiencies and a
seamless travel experience –
now and for the future
We’re not just a business –but
a multigenerationalendeavour.
Applying a long-term
perspective in everything
we do. Working closely with
tangatawhenua, prioritising
our people, aviation
community, our country’s
economy and the protection of
our natural environment. With
our partners, we are driving
modal shifts across transport
and applying new technologies
towards decarbonisation.
Together, we’re building a
sustainable legacy that
benefits future generations

Confidential
2023
Highlights
Financial
performance
Building a
better future
Outlook
Annual Results
Page 21
Transforming the aviation system at Auckland
Page 21
Ten-year roadmap
Projects are subject to change and may be replaced, deferred or cancelled
Airline consultation on the 10-year capital programmeconcluded in the year with circa $6.7 billion of investment planned for
Auckland Airport over PSE4 and PSE5 that will transform the aviation system

Confidential
2023
Highlights
Financial
performance
Building a
better future
Outlook
Annual Results
Page 22
Significant progress continues towards terminal integration
•Detailed consultation with airline
stakeholders concluded
•Detailed design of the integrated facility
now underway with expectation of the
completion of detailed design in calendar
2024
•Construction on key enabling works
projects progressing well including:
‒completed the relocation of the airport
operations centreto a new purpose-
built facility that enables closer
collaboration between airport
stakeholders;
‒construction of the new Eastern Bag
Hall including increased capacity; and
‒relocation of eastern airfield
operations including livestock, ULDs,
airside waste disposal facility and
Checkpoint Charlie
Substantial enabling works continue on the new domestic terminal that is planned to be tightly integrated with the existing
international terminal building
Page 22

Confidential
2023
Highlights
Financial
performance
Building a
better future
Outlook
Annual Results
Page 23
Airfield expansion providing important capacity for growth
Page 23

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2023
Highlights
Financial
performance
Building a
better future
Outlook
Annual Results
Page 24
Transport Hub that will transform the guest experience is taking shape
Page 24

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Appendices
Company
Overview
Building a
Better Future
Financial
Information
25
ANZ Investor Day
Retail recovery is underway
Page 25

Confidential
2021
Highlights
Financial
performance
Our continuing
journey
Outlook
Annual Results
Exciting retail outlet centre due to open in 2024
Page 26

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Appendices
Company
Overview
Building a
Better Future
Financial
Information
Significant commercial property portfolio continues to grow
Auckland Airport’s commercial property portfolio has grown rapidly in recent years, leveraging an exceptional track record ofdesign
and delivery, and the precinct’s high quality, high covenant tenancy characteristics. These characteristics continue to resonate with
existing and prospective tenants resulting in a strong forward order book.
Commercial property rent roll
Commercial property remains well positioned
Company
Overview
Financial
Information
Appendices
Portfolio value
Net lettable area
Rent roll
Portfolio occupancy
Weighted average
lease term
of land available for property
development
Annual hotel occupancy
Average hotel daily
room rate
$147 million
151 ha
99.5%
8.6 years
75%
$2.9 billion
535,058m
2
$216.35
0
20
40
60
80
100
120
140
160
Jun-10Jun-11Jun-12Jun-13Jun-14Jun-15Jun-16Jun-17Jun-18Jun-19Jun-20Jun-21Jun-22Jun-23
Rent roll ($m)
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Appendices
Company
Overview
Building a
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Financial
Information
Sustainability is central to who we are
Page 28
Company
Overview
Financial
Information
Appendices
Purpose
Kaupapa
85%
Customers rate their overall
experience as ‘excellent’ or
‘very good’ by 2030
100%
Of procurement activity is
aligned with sustainable
procurement guidelines
ISO20400 by 2030
TSR
Rolling 3 year total
shareholder return exceeds
cost of equity by 1%
Place
Kaitiakitanga
Net Zero
90% reduction in scope 1 and 2
carbon emissions by 2030 from a
2019 baseline
20%
Reduction in potable water use
by 2030 from 2019 levels
20%
Reduction in waste to landfill by
2030 from 2019 levels
People
Whānau
40 | 40 | 20
Gender balance across Auckland
Airport’s Board, Leadership Team
and its direct report populations
by 2025
20%
Of people leaders of Māori /
Pasifika ethnicity by 2025
Ethnicity
Workforce reflective of the
ethnicity of New Zealand by 2030
Community
Hapori
40%
Of employees participating in
community volunteer programme by
2030
Apprenticeship
Create a pathway for women, Māori
and Pasifika into trades with
30%

of total trade staff sourced from a
targeted apprenticeship scheme by
2030
Building a
Better Future

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Company
Overview
Building a
Better Future
Financial
Information
Purpose
Kaupapa
Place
Kaitiakitanga
People
Whānau
Community
Hapori
Material issues:
•Customer experience
•Wider economic contribution
Material issues:
•Climate change risk and adaptation
•Minimising our environmental
footprint
Material issues:
•Health, safety, wellbeing and
security
•Responsible employer
Material issues:
•Aircraft noise
•Community and mana whenua
involvement
Activities:
•Established centralised customer
functions (including Insights,
Customer Care and Contact Centre)
to improve customer experience at
Auckland Airport
•Participated in government business
delegations to promote New
Zealand offshore to help rebuild our
tourism and export industries
Activities:
•Undertook a coastal cleanup
•27% reduction in Scope 1 and
Scope 2 emissions against a 2019
baseline
•Commenced programme to phase
out gas from the terminals
•Relocated 227 native eels
•Introduced organic waste separation
in the terminals
•Installed 24 EV chargers on the
airfield
Activities:
•Safety & Risk Executive appointment.
•‘People First’ HS&W strategy adopted
•40:40:20 target achieved for
Board/Executive/Tier 3 levels of
leadership
•10% of our employees identify as Māori
or Pasifika, with 50 different ethnicities
across our workforce.
•Implemented enhanced parentalleave
policy
•12% of all permanent employees
undertake paid volunteer leave
Activities:
•$384,000 granted to community
projects to support learning, literacy
and life skills in South Auckland
•Celebrated Matariki with te reo
Māori in the terminals
•Continued to work alongside local
iwi on the design of projects across
the precinct
•Held a job fair to create employment
opportunities for local people and
connect them to jobs
Sustainability remains central to our activities
Sustainability is a key priority for Auckland Airport –our planned investments will help us move towards climate change goals and
create a more sustainable airport

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Company
Overview
Building a
Better Future
Financial
Information
Supported the recovery in travel
through increased connectivity
Reopened our commercial
businesses to cater for increased
passenger demand
Focused on improving operating
efficiency and effectiveness to
enhance the passenger experience
Continued our disciplined
approach to investment in
infrastructure
We are ‘building a better future’
New international servicesReopening of Bistro Box in the international terminalTrialling dedicated lanes to deliver improved efficiencyEnabling works for the integrated terminal

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Overview
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Financial
Information
Financial
information
Page 31

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Company
Overview
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Better Future
Financial
Information
Return to underlying profit
1.2020 includes capital expenditure write-offs, impairments and contractor termination costs of $117.5 million, redundancy costs of $5.9 million and credit losses of $7.3 million in 2020. 2021 includes a net reversal of $16.9 million of fixed asset impairment
and termination costs and a $4.2 million reversal of expected credit losses
2.A reconciliation between profit after tax and underlying profit after tax for 1H23 is included in the Appendix. Reconciliations for years ended 2019 – 2022 are available in the Annual Results report
3.The 2021 comparatives are restated following the IFRIC decision on cloud computing. Refer to note 2 of the Financial Statements to the Annual Results for the year ended 30 June 2022
For the year ended 30 June
$m
20232022
Restated
2021
3
20202019
Revenue
625.9
300.3281.1 567.0 743.4
Expenses
1
228.8
155.8110.0 306.6 188.6
Earnings before interest, taxation, depreciation, fair value adjustments and
investments in associates (EBITDAFI)
397.1
144.5171.1 260.4 554.8
EBITDAFI Margin
63%48%61%
46%
75%
Share of profit / (loss) from associates
11.1 (12.8)21.1 8.4 8.2
Impairment on investment in JV
--- (7.7) -
Derivative fair value movement
(0.7)
1.7(0.5) (1.9) (0.6)
Property, plant and equipment revaluation
(15.6)
(1.4)(7.5)(45.9) (3.8)
Investment property revaluation
(139.7)
204.4527.3 168.6 254.0
Depreciation expense
145.3
113.1120.9112.7 102.2
Interest expense
62.7
53.794.071.878.5
Taxation expense
1.0
(22.0)30.03.5108.4
Reported profit after tax
43.2
191.6466.6193.9523.5
Underlying profit / (loss) after tax
2
148.1
(11.6)(39.4)188.5274.7
Company
Overview
Building a
Better Future
Financial
Information
Appendices

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Company
Overview
Building a
Better Future
Financial
Information
Higher PAX numbers driving improved performance
•Despite aeronautical prices held at FY22 levels for the first year of PSE4, revenue from Airfield and the Passenger Services Charge grew a
combined 132% reflecting strong growth in aircraft movements and passengers
•With passengers returning, the progressive reopening of retail stores in the international terminal drove a significant increasein retail income
•Car parking income increased significantly reflecting the stronger than pre-COVID propensity to park, the reopening of all parking products and
passenger growth
•Investment property rental income increased by 27% on the prior period driven by rental growth in the existing portfolio, part period new leases in
FY22 and new leases in FY23 and an $8.4 million ‘straight-lining effect’ from leases with fixed rental increments over the lease period
For the year ended 30 June
$m
20232022202120202019
Airfield income
86.6
60.964.0100.6127.6
Passenger services charge
132.9
33.824.2133.0185.1
Retail income
130.9
22.717.8141.5225.8
Car park income
57.7
26.228.750.364.2
Rental income
170.6
129.7115.2109.2107.8
Other income
47.2
27.031.232.432.9
Total revenue625.9
300.3281.1567.0743.4
Company
Overview
Financial
Information
Appendices
Building a
Better Future

Confidential
Page 34
Appendices
Company
Overview
Building a
Better Future
Financial
Information
Balance sheet remains strong
As at 30 June
$m
20232022
Restated
2021
1
20202019
Cash
106.224.779.5765.337.3
Trade and other receivables
51.628.525.434.769.0
Other current assets
3.021.620.937.0-
Current assets
160.874.8125.8837.0106.3
Property, plant and equipment
7,548.36,986.16,826.56,060.86,577.1
Investment properties
2,882.12,897.42,641.42,054.21,745.4
Investment in associates
193.1166.5154.4114.7105.7
Derivative financial instruments
45.028.129.2230.4162.6
Total assets
10,829.310,152.99,777.39,297.28,697.1
Borrowings
1,817.11,476.61,392.82,145.22,190.5
Other liabilities
634.7525.4455.0514.9473.7
Total liabilities
2,451.82,002.01,847.82,660.12,664.2
Equity
8,377.58,150.97,929.56,637.16,032.9
Total liabilities and equity
10,829.310,152.99,777.39,297.28,697.1
1.The 2021 comparatives are restated following the IFRIC decision on cloud computing. Refer to note 2 of the Financial Statements to the Annual Results for the year ended 30 June 2022
Company
Overview
Financial
Information
Appendices
Building a
Better Future

Confidential
Page 35
Appendices
Company
Overview
Building a
Better Future
Financial
Information
Strong liquidity position and robust credit metrics
Strong financial metrics with strong covenant headroom and liquidity to support the planned capex
•Total drawn debt of $1,817 million at 30 June
2023, an increase of 23% or $340 million on
June 2022
•Committed undrawn bank facility headroom of
circa $963 million (Jun-22: $955 million), and
$106 million in available cash (Jun-22: $25
million)
•Raised $625 million of new borrowings through
four NZDCM issues in the period comprising:
‒a $150 million and$100 million wholesale
floating rate note issues; and
‒a $225 million and $150 million listed fixed
rate bond issues
•A-credit rating maintained
168
37
100
103
250
225
150
150
225
150
284
0
50
100
150
200
250
300
350
400
450
500
550
Jun-24Jun-25Jun-26Jun-27Jun-28Jun-29
$m
Commercial paperBank facilitiesFloating bonds
Fixed bondsAMTN
Drawn debt maturity profile by financial year
TestJun-23Jun-22
Gearing covenant
1
≤ 60%18.2%15.6%
Interest coverage covenant
2
≥ 2.0x6.57x2.58x
Debt to enterprise value12.7%12.3%
Net debt to enterprise value12.0%12.1%
FFO interest cover
3
≥ 2.5x5.2x2.6x
FFO to net debt
3
≥ 11.0%18.7%6.4%
Weighted average interest cost5.03%4.32%
Average debt maturity profile (yrs)2.652.29
Percentage of fixed borrowings63.2%71.5%
Key credit metrics
1.Gearing defined as nominal value of debt plus derivative liabilities divided by nominal value of debt plus derivative liabilities plus the book value of equity
2.Interest coverage defined as reported NPAT plus taxation, interest expense, depreciation, revaluations and derivative changes (broadly EBITDA) divided by interest
3.Test is S&P’s A- rating threshold for Auckland Airport

Confidential
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Appendices
Company
Overview
Building a
Better Future
Financial
Information
Outlook
1.Capital expenditures net of any impairments and excluding the impact of reduced termination cost provisions. Includes contributions to investments in joint ventures (Pullman)
Aerial view of Auckland Airport
Guidance
•As we look to the 2024 financial year, we continue to see positive signs
in the recovery of the aviation industry with increased connectivity
continuing to facilitate a recovery in travel
•Reflecting this, Auckland Airport is providing the following guidance for
FY24 of:
‒underlying earnings of between $260 million and $280 million based
on anticipated domestic and international passenger numbers of 8.5
million and 10.6 million respectively; and
‒capital expenditure of between $1,000 million and $1,400 million in
the year reflecting the significant investment across the airport
precinct
•This guidance is subject to any material adverse events, significant
one-off expenses, non-cash fair value changes to property and any
deterioration due to global market conditions or other unforeseeable
circumstances

Confidential
Thank you
Thank you

Confidential
Page 38
Appendices
Company
Overview
Building a
Better Future
Financial
Information
Appendices
Page 38

Confidential
Page 39
Appendices
Company
Overview
Building a
Better Future
Financial
Information
Appendix: Board of directors
Christine Spring
Director
Dr Patrick Strange
Chair
Mark Binns
Director
Liz Savage
Director
Julia Hoare
Director
Dean Hamilton
Director
Tania Simpson
Director
Mark Cairns
Director
Company
Overview
Financial
Information
Appendices
Building a
Better Future

Confidential
Page 40
Appendices
Company
Overview
Building a
Better Future
Financial
Information
Appendix: Management team
Company
Overview
Building a
better future
Financial
Information
Appendices
André Lovatt
Chief Infrastructure Officer
(departing)
Carrie Hurihanganui
Chief Executive
Mark Thomson
Chief Commercial Officer
Scott Tasker
Chief Customer Officer
Mary-Liz Tuck
Chief Sustainability & Master
Planning Officer
Melanie Dooney
Chief Corporate Services Officer
Phil Neutze
Chief Financial Officer
Richard Wilkinson
Chief Digital Officer
Chloe Surridge
Chief Operations Officer

Confidential
Page 41
Appendices
Company
Overview
Building a
Better Future
Financial
Information
Appendix: Underlying profit reconciliation
Company
Overview
Building a
better future
Financial
Information
Appendices
20232022
For the year ended 30 June ($m)
Reported
profit
AdjustmentsUnderlying
profit
Reported
profit
AdjustmentsUnderlying
profit
EBITDAFI per Income Statement
397.1 - 397.1 144.5 - 144.5
Investment property fair value change
(139.7)139.7 - 204.4 (204.4)-
Property, plant and equipment fair value change
(15.6)15.6 - (1.4)1.4 -
Fixed asset write-offs, impairments and termination costs
1
- 2.8 2.8 - 6.9 6.9
Derivative fair value change
(0.7)0.7 - 1.7 (1.7)-
Share of profit / (loss) of associate and joint ventures
11.1 (3.6)7.5 (12.8)17.2 4.4
Depreciation
(145.3)- (145.3)(113.1)- (113.1)
Interest expense and otherfinance costs
(62.7)- (62.7)(53.7)- (53.7)
Taxation expense / (benefit)
(1.0)(50.3)(51.3)22.0 (22.6)(0.6)
Profit after tax
43.2 104.9 148.1 191.6 (203.2)(11.6)
1.2023 EBITDAFI included fixed asset write-offs, impairments and termination costs of $3.8 million. 2022 included $6.9 million
We have made the following adjustments to show underlying profit after tax for the years ended 30 June 2023 and 2022:
•we have reversed out the impact of revaluations of investment property in 2023 and 2022. An investor should monitor changes in investment property over time as a measure of growing value. However, a change in
one particular year is too short to measure long-term performance. Changes between years can be volatile and, consequently, will impact comparisons. Finally, the revaluation is unrealisedand, therefore, is not
considered when determining dividends in accordance with the dividend policy;
•consistent with the approach to revaluations of investment property, we have also reversed out the revaluations of the land, runways, taxi ways, aprons and infrastructure and building classes of assets within
property, plant and equipment in 2023 and land and building classes of assets within property, plant and equipment in 2022;
•we have reversed out the impact of capital expenditure write-offs, impairments and termination cost expenses and reversals in 2023 and 2022. These fixed asset write-off costs, impairments and termination costs
are not considered to be an element of the group’s normal business activities and on this basis have been excluded from underlying profit;
•we have also reversed out the impact of derivative fair value movements. These are unrealisedand relate to basis swaps that do not qualify for hedge accounting on foreign exchange hedges, as well as any
ineffective valuation movements in other financial derivatives. The group holds its derivatives to maturity, so any fair value movements are expected to reverse out over their remaining lives. Further information is
included in note 18(b) of the financial statements;
•in addition, we have adjusted the share of profit of associates and joint ventures in both 2023 and 2022 to reverse out the impacts on those profits from revaluations of investment property and financial derivatives;
and
•we have also reversed out the taxation impacts of the above movements in both the 2023 and 2022 financial years.

Confidential
Debt investor update
Glossary
Auckland Airport Auckland International Airport Limited
Bn Billion
COVID COVID-19
Cps Cents per share
EBITDA Earnings before interest, taxation and depreciation
EBITDAFI Earnings before interest, taxation, depreciation, fair value adjustments and investments in associates
FFO Funds from operations
FY Financial year
Ha Hectares
JV Joint venture
KM Kilometers
NPAT Net profit after tax
PAX Passenger
PSE4 Price setting event 4 covering the period 1 July 2022 to 30 June 2027
PSE5 Price setting event 5 covering the period 1 July 2027 to 30 June 2032
TSR Total shareholder return
Page 42