AIA - 2024 Craigs Investment Partners Investor Day

Market Release | 23 May 2024

2024 Craigs Investment Partners
Queenstown Investor Day

Auckland Airport’s Acting Chief Financial Officer, Stewart Reynolds, will be presenting
at the Craigs Investment Partners Queenstown Investor Day today.
Please refer to the attached copy of the presentation that will be made at the
conference.

ENDS
For further information please contact:

Investors:
Chief Financial Officer (Acting)
Stewart Reynolds
+64 27 511 9632
stewart.reynolds@aucklandairport.co.nz

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Page 1
Overview of
Auckland Airport
23 May 2024
Craigs Investment Partners Queenstown Investor Day

Page 2
Disclaimer
This presentation is given on behalf of Auckland International Airport Limited (NZX: AIA; ASX: AIA; ADR: AUKNY). Information in this presentation:
•is provided for general information purposes only, and is not an offer or invitation for subscription, purchase, or recommendation of securities in Auckland International Airport Limited (Auckland Airport);
•should be read in conjunction with, and is subject to, Auckland Airport’s unaudited Interim Financial Statements for the six months ended 31 December 2023, prior annual and interim reports, and Auckland Airport's
market releases on the NZX and ASX;
•may include forward-looking statements about Auckland Airport and the environment in which it operates which are subject to uncertainties and contingencies outside of Auckland Airport's control. Auckland Airport's
actual results or performance may differ materially from these statements;
•includes statements relating to past performance, which should not be regarded as a reliable indicator of future performance; and
•may contain information from third parties believed to be reliable; however, no representations or warranties are made as to the accuracy or completeness of such information.
All information in this presentation is current at the date of this presentation, unless otherwise stated. Auckland Airport is not under any obligation to update this presentation at any time after its release, whether as a result
of new information, future events, or otherwise.
All currency amounts are expressed in New Zealand dollars unless otherwise stated and figures, including percentage movements, are subject to rounding.
Non-GAAP measures
This presentation contains references to non-GAAP measures including EBITDAFI, EBITDA and underlying profit or loss. A reconciliation between reported profit after tax and the non-GAAP measure of underlying profit or
loss is included in the published materials for in respective interim and annual results.
The directors and management of Auckland Airport understand the importance of reported profits meeting accounting standards. Because we comply with accounting standards, investors know that comparisons can be
made with confidence between different companies and that there is integrity in our reporting approach. However, we believe that an underlying profit or loss measurement can also assist investors to understand what is
happening in a business such as Auckland Airport, where revaluation changes can distort financial results or where one-off transactions, both positive and negative, can make it difficult to compare profits between years.
For several years, Auckland Airport has referred to underlying profit or loss alongside reported results. We do so when we report our results, but also when we give our market guidance (where we exclude fair value
changes and other one-off items) or when we consider dividends and our policy to pay 100% of underlying profit after tax (excluding unrealised gains and losses arising from revaluation of property or treasury instruments
and other one-off items).
In referring to underlying profits or losses, we acknowledge our obligation to show investors how we have derived this result.
Craigs Investment Partners Queenstown Investor Day
Important notice

Page 3Page 3
We own and operate Auckland Airport
1
st

New Zealand’s largest airport serving the
country’s largest city
23 destinations
domestically served by four airlines in 1H24
9.6 million
domestic passenger movements in FY19 and a
89% recovery in 1H24
64%
of domestic seat capacity originated or departed
from Auckland Airport in 1H24
24/7
no flight curfew, operating 24 hours a day, 7
days a week
3,635 metre
single runway airport capable of handing all
commercial aircraft types
Auckland Airport is the gateway to New Zealand...

Page 4
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
Suspended airlines
Suspended routes
Bali
Cairns
Sunshine Coast
Beijing
Shenzhen
...and connects New Zealand to the world
Note: As at 31 December 2023

Page 5
86%
0%
20%
40%
60%
80%
100%
120%
0.0
0.3
0.6
0.9
1.2
1.5
DEC
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19
FEB
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20
APR
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20
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20
AUG
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OCT
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DEC
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DEC
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FEB
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APR
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International (incl transit) passenger movements (millions)
International (incl transit) passenger recovery (%)
International
87%
0%
20%
40%
60%
80%
100%
120%
0.0
0.3
0.6
0.9
1.2
1.5
DEC
-
19
FEB
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20
APR
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20
JUN
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20
AUG
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20
OCT
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DEC
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FEB
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APR
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JUN
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AUG
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OCT
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DEC
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FEB
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DEC
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FEB
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APR
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Domestic passenger movements (millions)
Domestic passenger recovery (%)
Domestic
Passenger numbers are returning
Page 5

Page 6
AeronauticalRetail
Transport
Diverse and complementary activities
Commercial propertyHotelsQueenstown Airport

Page 7
1,500ha land holding enables a precinct wide vision
Page 7

Page 8
8
Quality retail offering
Page 8

Page 9Page 9
Extensive transport business

Page 10
311
rooms
198
rooms
273
rooms
Page 10
782 room hotel portfolio

Page 11Page 11
High quality commercial property portfolio

Page 12
Our strategy: Building A
Better Future

Page 13Page 13
Investing in building the gateway New Zealand needs

Page 14Page 14
ARTIST IMPRESSION
A new integrated domestic terminal

Page 15Page 15
Artist impression of the new domestic terminal (cont’d)

Page 16
16
Page 16
Artist impression of the new domestic terminal (cont’d)

Page 17Page 17
Northern airfield expansion and remote stands

Page 18Page 18
Transport Hub transforms customer access to the terminal precinct

Page 19
24,000m²+ Leasable Retail Area
100+ Retail Stores, 14 F&B
Page 19
Premium outlet centre opening September 2024

Page 20Page 20
$0.0
$0.2
$0.4
$0.6
$0.8
$1.0
$1.2
$1.4
FY23FY24FY25FY26FY27FY28FY29FY30FY31FY32
Billions
PSE4PSE5PSE6+
Forecast regulated investment cash-flow – by commissioning period ($ billion)
The investment in regulated activities will transform
the aviation system at Auckland Airport.
Customer journeys will be easier and faster, with
airlines benefitting from capacity growth, efficiency
improvements, sustainability outcomes and more
resilient infrastructure
Page 20
Total regulated capital investment of $6.7bn over 10 years

Page 21Page 21
Sustainability is core to what we do

Page 22
Auckland Airport is subject to a form of regulation called
'information disclosure’. This requires it to disclose certain
specified information relevant to performance (such as
profitability, expenditure and quality performance measures),
including forward-looking information (such as price setting
information and demand forecasts).
Information disclosure ensures that sufficient information is
readily available to interested persons to assess whether
Auckland Airport:
•invests and innovates;
•improves efficiency and provides services at a quality that
reflects consumer demands;
•shares the benefits of efficiency gains with consumers; and
•is limited in its ability to extract excessive profits.
Auckland Airport sets prices following consultation with
substantial customers, like airlines, on charges and any major
capital expenditure plans.
The Commerce Commission reviews Auckland Airport’s
pricing decisions to promote greater understanding of its
performance.
Economic regulation

Page 23
1H24 financial results
$440.5m
Total revenue
$310.2m
EBITDAFI
1
$118.7m
Reported
profit after tax
$145.7m
Underlying
profit after tax
1
Financials at a glance
53%
64%
2,373%
115%
Credit metrics and capex (as at 31 Dec 2023 unless stated)
1.Auckland Airport recognises that 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 results presentation accompanying the 2024 interim
results
2.Gearing is defined as nominal value of debt plus derivative liabilities divided by nominal value of debt plus derivative liabilities plus the book value of equity
3.Interest coverage is defined as reported NPAT plus taxation, interest expense, depreciation, revaluations and derivative changes (broadly EBITDA) divided by interest
1H24 revenue
21.1%
Gearing
2
8.22x
Interest
coverage
3
18.1%
FFO to net
debt
$602.8m
Capital
expenditure in
the six months
to 31 Dec 2023
194.8
90.3
33.8
72.5
14.8
34.3
0
100
200
300
400
500
1H24 revenue
$m
Aeronautical
Retail
Car park
Investment
property rental
Other rental
Other
Page 23

Page 24
We own and operate New Zealand’s largest airport
17.5m
Passenger movements in
the 12 months to 31 Dec
2023
95%
of visitors to New Zealand
on long-haul routes first
arrive at Auckland Airport
in the 6 months to 31 Dec
2023
76%
of all visitors to New
Zealand first arrive at
Auckland Airport
90%
of NZ’s airfreight
$28b value in the 12
months to 31 Dec 2023
47:53
Mix of activities between
aeronautical and non-
aeronautical in the 6
months to 31 Dec 2023
100
in-terminal retail
tenancies as at 31 Dec
2023
142
commercial property
tenancies as at 31 Dec
2023
$3.0b
investment property
portfolio as at 31 Dec
2023
$11.6b
market capitalisation
as at 30 Apr 2024 on
the NZX with a dual
listing on the ASX
49k
Shareholders as at 31
Dec 2023
$11.3b
total assets at 31 Dec
2023
A-
credit rating with S&P
We have a diverse business of scaleStrong financial metrics
Page 24
Auckland Airport at a glance

Page 25
...and investing to deliver
further capacity and resilience
...focused on improving the
operating efficiencies...
New flights driving additional
choice for travellers...
Page 25
We are building a better future

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Thank you