Updated Report of the 2025 Climate Action Committee (point 11) (Satellite?blobcol=urldata&blobkey=id&blobtable=MungoBlobs&blobwhere=1576873452256&ssbinary=true)

1. CONTEXT

   1. 2025: The year in which Europe strengthens its commitment to competitiveness and sustainability

   2. The aviation sector delivers a joint response to drive sustainability in aviation

   3. Alignment with the main climate change recommendations

   4. 2025 milestones

   5. Memberships and alliances

   6. Aena recognized as a sustainable company

      
      
      

2. SUSTAINABLE GOVERNANCE

   1. Governance bodies

      
      
      

3. STRATEGY

   1. Aena´s sustainability strategy

   2. Our decarbonisation roadmap

4. CLIMATE-RELATED RISKS AND OPPORTUNITIES

   1. Risk management

   2. Physical and transition risks, and opportunities

5. MONITORING OF THE 2025 CLIMATE ACTION PLAN

   1. Metrics, targets and emissions performance

   2. 2025 targets and actions to reduce Scope 1 and 2 emissions: Carbon Neutrality Programme

      
      
      

   3. 2025 targets and actions to reduce Scope 3 emissions: Community and Value Chain and Sustainable Aviation Programmes

‌CONTEXT

Aena's commitment to take action against climate change is aligned with European

and national guidance and targets, both in

decarbonisation and in the energy transition.

1 This report includes Aena SME S.A. and SCAIRM, in agreement with the 2021-2030 Climate Action Plan.

In 2025, the European Commission consolidated an industrial vision in which competitiveness, innovation and sustainability act as inseparable levers of economic growth. This approach is articulated through new strategic tools -including the Sustainable Transport Investment Plan (STIP), presented in November 2025 as part of the Clean Industrial Deal- a framework designed to accelerate the deployment of clean technologies and ensure that Europe maintains its leadership in an increasingly demanding global context.

The STIP establishes a common approach across the European Union to promote investment in renewable and low-emission fuels in aviation and maritime transport, sectors considered critical in the climate transition. The Commission underlines that this plan represents a unique opportunity to strengthen energy sovereignty and provide stable regulatory signals, mobilising public and private investment towards the production of sustainable fuels, the development of hydrogen technologies and the modernisation of the energy systems required to support industrial transformation.

In this context, aviation continues to be a key sector regarding the competitiveness of the European Union. The sector's ability to maintain its economic contribution, its role in territorial cohesion and global connectivity increasingly depends on the speed at which it can progress in decarbonisation. For this reason, the deployment of infrastructure capable of supplying and handling sustainable fuels (SAF and e-fuels), along with the progressive electrification of fleets and the integration of hydrogen-based solutions, becomes a strategic priority. These transformations are not only essential to meet climate objectives, but also strengthen the sector's resilience, ensure competitive access to new energy sources and contribute to the development of fully European industrial value chains.

Likewise, intermodality and the integration of energy and transport cease to be an aspirational concept and become an immediate necessity. Physical

and operational connections between different modes of transport, together with greater coordination between energy and airport infrastructures, enable resource optimisation, emissions reduction and improved overall system efficiency. This integrated approach is now essential to sustain the growth

of the aviation sector in an environment where energy demand, operational requirements and climate commitments must evolve simultaneously.

Overall, 2025 marks Europe's definitive shift towards a model in which sustainability and industrial innovation advance hand in hand. The Clean Industrial Deal and the STIP reinforce the transition from the regulatory phase to effective implementation, providing clarity on priority investments, strengthening energy autonomy and positioning Europe as a leader among other economies. This new framework demonstrates that environmental

policies can act as genuine drivers of competitiveness, capable of attracting investment, boosting strategic technologies and consolidating a stronger, more resilient European market aligned with climate neutrality by 2050.

KEY FACTORS ENABLING PROGRESS TOWARDS EFFECTIVE DECARBONISATION

Acceleration of the transition towards a green economy: The shift towards clean energy, low-emission technologies and circular economy models continues to be a key driver of European growth. Decarbonisation initiatives in strategic sectors such as industry, energy and transport open up new business opportunities and strengthen the EU's industrial autonomy.

Stable environmental regulation to attract investment: The EU maintains its commitment to consistent and predictable regulatory frameworks - particularly in areas such as sustainable fuels and energy efficiency- in order to reduce risk and attract private investment, providing certainty for the development of clean technologies and the construction of sustainable value chains.

Industrial innovation and financing: The EU continues to mobilise resources through programmes such as Horizon Europe, InvestEU, the Innovation Fund and the European Hydrogen Bank to accelerate the deployment of clean technologies, digitalisation and advanced industrial solutions. These investments are essential to strengthening the resilience of the European economy and fostering a more innovative and competitive business fabric.

The aviation sector continues to take firm steps towards building a more sustainable aviation industry, advancing in a coordinated manner towards the shared objective of reducing its environmental footprint without sacrificing global connectivity or the growth of air transport. In 2025, this shared commitment has intensified in response to the need to accelerate the ecological transition and ensure that sectoral progress goes hand in hand with climate responsibility and competitiveness.

Recent sector reports, such as the updated Destination 2050 roadmap, agree that the industry is at a turning point: although aviation is one of the most complex sectors to decarbonise, regulatory, technological and operational advances have laid more solid foundations for a far-reaching and effective structural transition aligned with European climate objectives.

Technological innovation remains one of the fundamental pillars of this transformation. Manufacturers are developing more efficient aircraft, lower-consumption engines and lighter materials. In parallel, research projects into electric and hydrogen-powered aircraft are accelerating and could play a decisive role on

short- and medium range haul routes in the coming decades. Likewise, improvements in air traffic management, digitalisation and operational optimisation enable additional emissions reductions per flight, aligning with the strategies set out in the sectoral roadmap.

From an energy perspective, the only immediate, scalable and technologically viable lever to reduce sector emissions is the use of sustainable aviation fuels (SAF).

In 2025, the first mandatory EU mandates entered into force under the ReFuelEU Aviation Regulation, requiring a minimum of 2% SAF in 2025 and progressively increasing through to 2030 across all operations, including a stepped refuelling obligation through to 2035. This mechanism will provide more than half of the effort required to achieve Net Zero by 2050; its main challenge is not technological, but scaling production with sufficient investment and regulatory stability. To that end, the European Commission launched the STIP, aiming to mobilise investment, reduce market barriers and enable SAF and e-fuels to scale at a pace compatible with the sector's climate objectives.

In parallel, international bodies such as ICAO continue to strengthen their frameworks, introducing new transparency measures in 2025, such as environmental labels for intra-European flights, enabling passengers to understand the climate impact of each journey.

In this context, airports play a fundamental role as enablers and drivers of decarbonisation. Their responsibility goes far beyond ground operations: they are consolidating as strategic energy hubs, capable of articulating the supply chain required for the use of sustainable fuels (SAF and e-fuels), integrating renewable energy generation and storage systems, and adapting infrastructure to the progressive arrival of electric and hydrogen-powered aircraft. Moreover, thanks to their central position in the mobility ecosystem, airports play a key role

in implementing operational improvements by airlines -from ground efficiency to reducing taxiing times and waits- and act as key platforms to test and scale new energy and technological solutions that accelerate the transition to a more sustainable model.

At Aena, we are fully aware of this enabling role. As managers of critical infrastructure, we work to promote projects that accelerate the aviation sector's energy transition, from deploying renewable energies and electrifying ground fleets to promoting sustainable fuels and developing solutions to decarbonise the airport value chain. This vision is an important input into the planning and modernisation of our infrastructure, enabling our airports to be prepared to integrate new technologies, operate with clean energy and support airlines in their own transformation. Our approach is clear: to manage responsibly, proactively and innovatively, driving solutions to decarbonise the sector and enabling future aviation to grow sustainably and in alignment with European climate objectives.

Ultimately, the future of sustainable aviation is promising, but it requires continued effort and joint action across the entire sector. Only through cooperation and shared responsibility, and through the promotion and implementation of innovative solutions, aviation will continue to connect the world in an increasingly efficient, clean and environmentally respectful manner.

This report includes information on governance, strategy, risk and opportunity management, targets, metrics and emissions performance related to climate change, following the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). Aena has been a TCFD supporter since 2023. The report also takes into account the European Commission's climate-related disclosure guidelines under Directive 2014/95/EU.

In line with Aena's commitment to the Science-Based Targets initiative (SBTi), Aena can confirm that the emission reduction targets for all Aena Group companies are aligned with the Paris Agreement for a 1.5°C pathway. Aena's validated objectives are the following:

SHORT-TERM EMISSION REDUCTION TARGETS

• Reduce absolute Scope 1 and 2 greenhouse gas emissions by 74.4% by 2030 compared to 2019.

• Reduce absolute Scope 3 greenhouse gas emissions by 34.7% by 2030 compared to 2019, covering categories such as purchased goods and services, capital goods, fuel- and energy-related activities, waste generated in operations, business travel, employee commuting and investments.

• Commitment that 67% of customers in terms of emissions (airlines and handling agents), within the Scope 3 category "use of services/products sold by the organisation", will have science-based targets by 2028.

  LONG-TERM EMISSION REDUCTION TARGETS

• Reduce absolute Scope 1 and 2 greenhouse gas emissions by 90% by 2050 compared to 2019.

• Reduce absolute Scope 3 greenhouse gas emissions by 90% by 2050 compared to 2019.

  OVERALL NET ZERO OBJECTIVE

• Achieve net zero greenhouse gas emissions across the entire value chain by 2050.

Note: the scope of the SBTi targets includes AENA S.M.E., S.A., SCAIRM and its subsidiaries in the United Kingdom (LLA) and Brazil (ANB).

74.4% REDUCTION IN SCOPE 1 AND 2 EMISSIONS VERSUS 2019, 2.4 PERCENTAGE POINTS ABOVE THE TARGET

• 22% reduction in boiler fuel consumption thanks to aerothermal energy and efficiency measures.

• 34% reduction in natural gas consumption in the trigeneration plant at Madrid-Barajas.

Compensation of 6% of Scope 1 and 2 emissions and 100% of CO2emissions from employee travel (Scope 3).

ACI EUROPE AIRPORT CARBON ACCREDITATION CERTIFICATION IN 2025 FOR 19 AIRPORTS IN THE SPANISH NETWORK.

• The three main airports reached Level 4: Adolfo Suárez Madrid-Barajas, Josep Tarradellas Barcelona-El Prat, Palma de Mallorca.

• Ten additional airports were incorporated into the programme and achieved the planned Level 1.

PURCHASE OF 100% RENEWABLE ELECTRICITY WITH GUARANTEES OF ORIGIN.

EU TAXONOMY ELIGIBILITY AND ALIGNMENT REPORTED (61% ELIGIBILITY AND 52% ALIGNMENT IN REVENUES).

CONSTRUCTION COMPLETED FOR THE 142 MWp (120 MWn) PHOTOVOLTAIC PLANT AT MADRID-BARAJAS; COMMISSIONING PLANNED FOR THE FIRST SEMESTER OF 2026.

78.4% SUSTAINABLE GROUND HANDLING FLEET.

* Consolidated information based on the requirements of the Aena´s Group 2025 Sustainability Report

Aena actively participates in major national and international initiatives and alliances that promote sustainable development and contribute to tackling climate change, both within the aviation sector and across the energy and industrial ecosystem.

NETZERO

2050 BY ACI

The NetZero2050 initiative of ACI Europe

currently brings together more than 320 airports managed by over 100 operators in 38 European countries that have committed to achieving net zero carbon emissions from operations under their control before 2050. Of these, more than 130 airports have set a more ambitious target of reaching net zero before 2030.

Aena is part of this agreement and, in 2023, increased its level of ambition by bringing forward its net zero target for Scope 1 and 2 emissions to 2030.

SCIENCE BASED

TARGETS INITIATIVE

The Science Based Targets initiative

promotes ambitious climate action in the private sector by enabling organisations to set greenhouse gas emission reduction targets aligned with climate science.

In 2024, Aena obtained validation of both its short-term and long-term emission reduction targets under the "Business Ambition for 1.5°C" objective, confirming alignment with the Paris Agreement.

CLIMATE AMBITION

ACCELERATOR

The Climate Ambition Accelerator,

promoted by the United Nations Global Compact, supports companies in setting science-based emission reduction targets aligned with a

1.5°C pathway and achieving net zero emissions by 2050.

Aena participated in the second edition of this programme alongside 945 companies from 69 countries, reinforcing its commitment to climate leadership and transparency.

FOR TOMORROW

COALITION

The Clean Skies for Tomorrow Coalition,

promoted by the World Economic Forum, is a global public-private platform that brings together senior leaders across the aviation value chain to accelerate the transition to sustainable aviation fuels (SAF) as a

pathway towards carbon-neutral flight.

Aena has been a member of this coalition since mid-2021.

CLEAN SKIES

TOULOUSE DECLARATION

EUROPEAN CLEAN HYDROGEN ALLIANCE

Toulouse

Declaration

The Toulouse Declaration is the first public-private initiative supporting the objective of European aviation to achieve net zero CO2emissions by 2050. It is also the first initiative of its kind worldwide, aligning all European Union stakeholders to decarbonise and transform the aviation sector.

The declaration was signed by the 27 EU Member States, 10 Member States of the European Civil Aviation Conference, and nearly 150 companies and organisations from the aviation and energy sectors, including manufacturers, airlines, federations, trade unions and infrastructure managers such as Aena.

It establishes a shared long-term vision to achieve net zero emissions by 2050, in line with the EU's long-term climate objectives and the Paris Agreement.

Promoted by the European Commission, the European Clean Hydrogen Alliance aims to support the creation of a strong, innovative and competitive clean hydrogen sector in Europe, capable of underpinning the energy transition outlined in the Commission's "A Clean Planet for All" strategy.

The alliance brings together technological and financial expertise from public and private sources. Aena has been a member since early 2021, contributing to the development of the green hydrogen value chain in airport environments.

ZERO EMISSION

AVIATION

The Alliance for Zero Emission Aviation is

a European initiative aimed at preparing the aviation ecosystem for the entry into service of electric and hydrogen-powered aircraft, ensuring that air transport contributes to climate neutrality by 2050.

Aena participates in this alliance through ACI Europe, which leads the airports working group, and is also involved

in the regulation, certification and standardisation working group.

ALLIANCE FOR

RENEWABLE & LOW CARBON FUELS INDUSTRIAL ALLIANCE

SPANISH ALLIANCE FOR THE USE OF

HYDROGEN IN

AVIATION

Promoted by the Spanish

Aerospace Technology Platform, this alliance aims to foster the use of hydrogen in aviation and support the achievement of Spain's hydrogen roadmap and the objectives of the European Green Deal.

Aena actively participates in the alliance and leads the Airports Working Group.

This European Commission initiative seeks to increase the production and supply of renewable and

low-carbon fuels in aviation and maritime transport, supporting the implementation of ReFuelEU Aviation and FuelEU Maritime regulations.

Aena is a member of the alliance and participates as an expert in Working Table No. 2, focused on production pathways and the aviation value chain.

SPANISH ALLIANCE FOR SUSTAINABILITY

IN AIR TRANSPORT

This alliance brings together key stakeholders in the Spanish aviation sector, including

airlines and their associations (ALA, IATA), the Spanish Aviation Safety Agency (AESA), Aena, fuel operators, logistics providers, aircraft manufacturers, universities, NGOs and business associations.

Its objectives include leading the decarbonisation of air transport, strengthening Spain's industrial capacity in disruptive technologies, fostering public-private collaboration in R&D&I, and accelerating the development of low-carbon aircraft.

The alliance was approved in April 2023, and Aena is a member of its Steering Committee.

FORÉTICA

Forética is Spain's leading organisation

for sustainability and corporate social responsibility. Its mission is to integrate environmental, social and governance criteria into the strategy and management of companies and organisations. It currently has more than 200 member organisations, including Aena.

Aena's commitment to sustainability and climate action is recognized by leading international indices, rating agencies and benchmarking initiatives.

CDP CLIMATE CHANGE (CLIMATE DISCLOSURE PROJECT)

CDP is a global non-profit organization that evaluates companies' environmental performance and climate change strategies.

In 2025, Aena achieved an A rating, the highest possible score, placing the company among global leaders in climate action and above both the

European average and the airport sector average.

FTSE4GOOD

Aena is included in the FTSE4Good index, which recognizes companies with strong environmental, social and governance (ESG) practices. In 2025, Aena achieved the maximum

possible score (5 out of 5) for the third consecutive year.

IBEX ESG (SPANISH STOCK EXCHANGE AND MARKETS)

Aena has been included for the second consecutive year in the IBEX ESG index, which identifies Spanish publicly traded companies with the highest sustainability performance.

EUROPE'S CLIMATE LEADERS -FINANCIAL TIMES & STATISTA

For the third consecutive year, Aena has been included in the "Europe's Climate Leaders" ranking published by the Financial Times and Statista.

This ranking recognizes 500 European companies that have achieved the greatest reductions in greenhouse gas emissions and demonstrated strong climate commitments.

S&P GLOBAL CORPORATE SUSTAINABILITY ASSESSMENT

In the S&P Global Corporate Sustainability Assessment, Aena achieved a score of 83 points in the environmental dimension and an overall score of 69 out of 100.

As a result, Aena maintained its inclusion in the Dow Jones

Sustainability Index and was also recognized in the Sustainability Yearbook 2026, which highlights companies with outstanding sustainability performance.

ECO-MANAGEMENT AND AUDIT SCHEME (EMAS)

The EMAS facilitates the evaluation and continuous improvement of the Company's environmental performance and promotes transparency.

ISO 14064: CARBON FOOTPRINT CALCULATION

This standard enables the verification and validation of the Company's greenhouse gas emissions calculations.

ISO 9001: QUALITY MANAGEMENT SYSTEM

This standard focuses on customer satisfaction and the Company's ability to provide products and services that meet both internal and external requirements.

ISO 14001: ENVIRONMENTAL MANAGEMENT SYSTEM

This standard allows for the control and minimisation of the environmental impact that may

arise from the Company's activities.

ISO 50001: ENERGY MANAGEMENT SYSTEM

This standard helps organisations improve their energy performance by identifying significant energy uses within their activities and proposing opportunities for improvement. It systematises the monitoring of energy consumption through the definition of baselines and energy performance indicators, enabling the demonstration of achieved energy efficiency improvements.

Overall, it is a management system focused on energy use and consumption, aimed at continuous improvement of energy performance, energy efficiency, and the reduction of costs and emissions, while ensuring compliance with applicable legal requirements in the field of energy.

Currently, Aena has ISO 50001 certification at the airports of Reus, Zaragoza, Valladolid, Valencia, Menorca, and at the Energy Supply and Technical Services Area (SATE) of Adolfo Suárez Madrid Barajas Airport. During 2025, energy audits were updated at those sites where assessments had been carried out four years earlier, and the scope was expanded to include all Aena facilities. In parallel, the implementation

of the Energy Management System in accordance with ISO 50001 has been initiated at the airports with the highest energy consumption within the network. This initiative forms part of the strategy to improve energy efficiency and contribute to achieving the objectives set out in the Climate Action Plan (CAP).

AIRPORT CARBON ACCREDITATION (ACA)

This is the carbon footprint certification programme of the Airport Council International (ACI), which certifies both the calculation of airports' carbon footprints and the progress made in fulfilling their CO2emission reduction commitments. Approximately 94% of the emissions across the network are certified under this programme, with the following levels achieved at 19 airports.

2025:

Level 1: Bilbao Airport; El Hierro Airport; Fuerteventura Airport; Gran Canaria Airport; La Gomera Airport; La Palma Airport; Santiago Rosalía de Castro Airport; Seville Airport; Tenerife Norte-Ciudad de La Laguna Airport; Tenerife Sur Airport; Valencia Airport.

Level 2: César Manrique Lanzarote Airport

Level 3: Alicante Elche Miguel Hernández Airport; Ibiza Airport; Málaga Costa del Sol Airport; Menorca Airport Level 4: Adolfo Suárez Madrid Barajas Airport; Josep Tarradellas Barcelona El Prat Airport; Palma de Mallorca Airport.

The three main airports in the network by passenger numbers - Adolfo Suárez Madrid Barajas, Josep Tarradellas Barcelona El Prat and Palma de Mallorca

- achieved Level 4 accreditation this year. Under this level, each airport establishes an absolute emissions

CORPORATE CARBON FOOTPRINT VERIFICATION

The 2025 corporate carbon footprint, which includes Scope 1, 2 and 3 emissions from the entire Spanish airport network (including the Region of Murcia International Airport), heliports, and the Company's Corporate Services, has been verified by AENOR with a limited assurance level, in accordance with UNE EN ISO 14064 3:2019 and in compliance with all calculation criteria established by the GHG Protocol.

reduction target aligned with the IPCC 1.5°C scenario and actively encourages third parties to reduce their own emissions through a partnership programme, thereby transforming carbon management towards a comprehensive, long term approach.

‌SUSTAINABLE GOVERNANCE

Aena's commitment to tackling climate change is reflected in the involvement of senior management and in decision-making that ensures compliance with the Company's strategic decarbonisation objectives.

The integration of sustainability into Aena's corporate management is underpinned by a governance model that clearly structures the responsibilities and functions required to advance the Company's environmental commitments. This model ensures coordination across different areas, continuous monitoring of progress and decision-making aligned with the objectives set out in the Sustainability Strategy and in the Climate Action Plan.

Aena's Board of Directors, through the Sustainability and Climate Action Committee, performs a set of clear, formal and regulated functions aimed at ensuring that sustainability and climate action are a central part of corporate strategy.

The Sustainability and Climate Action Committee of Aena is an internal, informative and advisory body of the Board responsible for supervising and guiding the strategy, policies, plans, risks and information on sustainability and climate action, including monitoring the Climate Action Plan, ensuring the quality of the Sustainability Report and alignment with regulations and international standards. In addition, it evaluates sustainability performance, coordinates with other committees, participates in selecting the verifier, and promotes social action and ESG ratings. It meets at least four times a year and has the resources and training required to ensure effective, transparent operation aligned with good governance. It also prepares an annual

report of activities, which is published together with the notice convening the General Shareholders' Meeting.

Within the scope of the Climate Action Plan (CAP), the Sustainability and Climate Action Committee reviews the progress of initiatives on a quarterly basis, while the Audit Committee oversees environmental risks and the robustness of the control system. Likewise, the Appointments and Remuneration Committee ensures that the remuneration scheme incorporates incentives consistent with the rollout of the CAP.

Aena has consolidated sustainability as a strategic pillar, driven from the highest level of corporate governance. Each year, the results of the Plan are presented to the Board of Directors, which provides

strategic oversight, and are subsequently submitted for an advisory vote at the General Shareholders' Meeting, in line with Aena's principles of transparency and accountability in climate governance.

The degree of compliance with Aena's 2021-2030 Climate Action Plan is linked to the variable remuneration of all employees, including the Chairman and CEO, the Executive Vice-Chairman and members of the Executive Management Committee. This linkage is implemented through the Performance Management System, which is assessed annually and includes specific indicators related to climate and sustainability objectives.

Specifically, for members of Senior Management, variable remuneration depends on the achievement of the Company's objectives, which include a sustainability objective. This sustainability objective has a weight of 25% within the Company objectives component, which represents 50% or 40% of total objectives (depending on the Directorate).

For the Chairman and CEO, sustainability objectives (Climate Action Plan for Aena, Spain) have a weight of 25% of the Company objectives (25% of 100% of the Company objectives), and for the Executive Vice-Chairman they have a weight of 25% of the Company objectives component (25% of 50% of the Company objectives).

FREQUENCY KEY FUNCTIONS

ANNUAL Advisory vote and monitoring of the Climate Action Plan.

ANNUAL

ANNUAL

QUARTERLY

Appointments, Remuneration and Corporate Governance Committee

Audit Committee

Sustainability and Climate Action Committee (CSAC)

Approval of the CAP and annual and ad hoc oversight.

Guidance and control of the strategy, policies, objectives, risks and results in climate action.

Ensure the remuneration model includes linkage to climate-action objectives.

Supervise the risk management system, ensuring identification, management and communication of key risks within planned levels.

Climate Action Plan reporting, oversight and disclosure.

Monitoring of the Climate Action Plan.

Chief Green Officer

Embed sustainability in decision-making and communicate updates and progress to the Board and employees through established communication channels.

BI-MONTHLY Preparation and coordination of the Climate Action Plan.

‌STRATEGY

Aena is committed to sustainability by

applying efficiency, innovative solutions and collaboration with third parties.

Aena's 2022-2026 Strategic Plan integrates Sustainability as a cross-cutting axis of the Company, strengthening in particular the environmental dimension of management, in line with DORA II 2022-2026, the 2021-2030 Sustainability Strategy and the Climate Action Plan. This strategic framework structures and guides the actions needed to advance towards airport operations aligned with today's environmental and climate challenges.

At Aena, we maintain our commitment to act as an active agent in response to climate change and other relevant environmental challenges, such as reducing natural resource consumption, lowering emissions and air pollutants, mitigating noise impacts and protecting biodiversity. All of this with the aim of strengthening responsible natural-capital management, minimising the

environmental impact associated with our activity and creating the conditions necessary for the sustainable development of the Spanish airport network and for contributing to, driving and facilitating the sustainability of air transport.

This commitment is underpinned by our 2021-2030 Sustainability Strategy, which includes the Climate Action Plan, for whose implementation an investment of close to €750 million has been planned. This investment effort reflects Aena's determination to anticipate and respond to ESG challenges, as well as to drive

a structural transformation towards a more efficient, low-emission energy and operational model.

Collaboration with third parties and transparent disclosure of our environmental performance remain essential levers. Through dialogue, participation in specialised forums and the exchange of knowledge with public administrations, companies and sector stakeholders, we strengthen synergies that accelerate the sustainable transition of the airport system. During 2025, these dynamics

of cooperation and awareness-raising were a fundamental component of our strategy to engage all actors in the joint construction of a more sustainable future for aviation.

COMMITMENT TO THE SUSTAINABLE

DEVELOPMENT GOALS

Structure of Aena's sustainability strategy

Carbon

neutrality

Renewable

energy

PROGRAMMES ACTION LINES

Sustainable

aviation

Clean

propulsion for aircraft

CAP

Efficiency in

aeronautical operations

CAP

Sustainable

groundhandling CAP

fleet

Responsible

resource use

Efficient water

footprint

Circular

economy

Sustainable

community and value chain

Sustainable

mobility

CAP

Cooperation and

awareness

CAP

Air

quality

CAP

Noise

management

CAP

Biodiversity

preservation

CAP

Social

commitment

Relationship with

the community

People

management

CAP

Climate Action Plan

Our reference frameworks

SUSTAINABILITY POLICY

Approved by the Board of Directors in 2024, it constitutes the reference framework guiding the Company's actions on environmental, social and corporate governance matters. This policy reaffirms Aena's commitment to align its business model and strategy with the 17 Sustainable Development Goals of the United Nations' 2030 Agenda, with a particular emphasis on SDG 13, focused on climate action and climate-change mitigation.

The Policy establishes the principles, commitments and strategic lines that guide the activity of the Aena Group, ensuring that its operations contribute to sustainable development, generate long-term value and maximise positive impacts on people and the environment. Likewise, it defines the mechanisms necessary to minimise adverse effects across the entire value chain, promoting ethical, responsible and transparent conduct.

This policy explicitly incorporates the climate variable into internal decision-making processes and into the identification and management of environmental risks

and opportunities in the short, medium and long term. Priority areas include climate change, air quality, noise management, efficient water use, biodiversity and ecosystem protection, and responsible waste management. All of this under the highest standards of ambition and with the aim of advancing towards a circular-economy model integrated into all organisational processes.

The Sustainability Policy is publicly available on the Company's website, facilitating consultation by all stakeholders and reaffirming Aena's commitment to transparency and accessibility of information.

INTEGRATED MANAGEMENT POLICY ON QUALITY, ENVIRONMENT, ENERGY EFFICIENCY AND OCCUPATIONAL HEALTH AND SAFETY

This policy, updated in 2024 by the Board of Directors, establishes the principles and criteria that ensure the organisation operates under the highest standards of quality, environmental protection, energy efficiency and occupational well-being, integrating these aspects at all levels of corporate management.

Through this policy, Aena reaffirms its commitment to incorporate into

decision-making those criteria that reduce the environmental impact of its activities, promoting efficient and sustainable resource use, driving climate action and fostering operational practices consistent with the transition to a low-carbon economy. This policy reinforces the responsibility to make airport activity compatible with environmental protection, conservation of natural habitats and biodiversity preservation, minimising environmental-degradation processes, including deforestation, and compensating impacts when necessary through the appropriate instruments.

Likewise, the policy includes the commitment to guarantee safe and healthy working conditions for all personnel, integrating occupational risk prevention as a key element of operational management.

Finally, this policy establishes the obligation to communicate and disseminate its principles to all Aena staff and to companies in its value chain, promoting a shared culture of responsibility, compliance and continuous improvement across all areas and processes of the organisation.

The 2021-2030 Climate Action Plan, approved by the Board of Directors and validated through

an advisory vote of the General Shareholders' Meeting, covers the entire Spanish airport network, including the International Airport of the Region of Murcia, as well as the heliports managed by Aena. This plan is a strategic pillar of the Company and is fully aligned with ACI Europe's Net Zero initiative, adopted by more than 300 airports managed by 86 operators in 32 European countries, all committed to achieving and maintaining net zero emissions in operations under their control no later than 2050. This adherence positions the European airport sector as a global benchmark in the fight against climate change.

In this context, Aena significantly increased its climate ambition by bringing forward to 2030 its

STRATEGIC PROGRAMMES OF AENA'S CLIMATE ACTION PLAN

CAP

CARBON NEUTRALITY

Scopes 1 and 2

Become a carbon-neutral airport operator (2026) and achieve Net Zero Carbon (2030).

objective of achieving net zero emissions in Scopes 1 and 2. This decision is accompanied by internal decarbonisation targets fully aligned with the Paris Agreement, focusing on limiting the increase in

global average temperature to 1.5°C and strengthening the global response to climate change. This alignment provides greater robustness, coherence and feasibility to the action pathways defined in the plan.

SUSTAINABLE AVIATION

Scope 3:

Act as a catalyst for other aviation-sector stakeholders to accelerate their decarbonisation.

Ultimately, the Climate Action Plan is Aena's roadmap for decarbonisation, with specific measures

aimed both at reducing direct emissions (Scopes 1 and 2) and at driving the decarbonisation of

third-party activities present at airports and the value chain as a whole (Scope 3). Among the most relevant objectives included in the plan are:

• Achieve carbon neutrality in 2026 for Scopes 1 and 2.

• Achieve net zero emissions in Scopes 1 and 2 in 2030, anticipating the global sector horizon and consolidating our commitment to the decarbonisation of aviation.

SUSTAINABLE COMMUNITY AND VALUE CHAIN

Scope 3:

Improve the sustainability of the surrounding environment by collaborating with suppliers, tenants, transport operators and the community

At Aena, we are making further progress this year with determination to decouple the growth of our operations from greenhouse gas emissions and thus position ourselves as a leader in our sector. Achieving our GHG emissions reduction targets will undoubtedly allow us to be more efficient, grow sustainably, and generate value for the company, our shareholders, and society.

19 AIRPORTS LEVEL 4+ OF ACA

19 AIRPORTS LEVEL 5 OF ACA

2040

BASELINE YEAR

/ STARTING POINT

2019

CARBON-NEUTRAL AIRPORTS (SCOPES 1 AND 2)

2026

NET ZERO CARBON

2030

We are bringing forward the planned targets

‌CLIMATE-RELATED RISKS AND OPPORTUNITIES

Climate scenario analysis, recommended by the Task Force on Climate-related Financial Disclosures (TCFD), enables organisations to integrate climate-related risks and opportunities into strategy and to create useful information for investors.

Climate risks are included in the Company's risk map, which also considers the corresponding management, supervision and control mechanisms, which in turn include indicators and measures linked to compliance with the Climate Action Plan.

Aena approaches risk management with a transversal vision that involves all corporate directorates, as well as the different governance bodies, in the process of identifying, analysing, assessing, valuing and controlling risks.

CORPORATE DIRECTORATES

Identify and assess risks under their area of responsibility; execute mitigation activities; propose and report indicators for appropriate monitoring; establish action plans to mitigate risks, reporting on their effectiveness.

In line with the established corporate environmental commitments and objectives, integrating climate risk analysis into risk management is key to identifying, preventing and mitigating the different strategic impacts of climate risks in addressing climate change, as well as to identifying new opportunities.

Organisational framework for risk management

BOARD OF DIRECTORS

Determines the risk control and management policy, the compliance policy, and supervises internal information and control systems.

INTERNAL AUDIT DIRECTORATE

Participates in the Audit Committee by coordinating activities defined in Aena's Risk Control and Management Policy; ensures the proper functioning of the Risk Management System so that key risks affecting the company are identified, managed and quantified; and reports to the Group's governance bodies.

MONITORING COMMITTEES

AUDIT COMMITTEE

Supervises and evaluates the Risk Management System, ensuring that the main financial and non-financial risks (including climate risks) are identified, managed, communicated and maintained within expected levels.

SUSTAINABILITY AND CLIMATE ACTION COMMITTEE

Supervises climate strategy, policies and plans; monitors the Climate Action Plan and physical and transition risks; ensures alignment with standards (TCFD, EU and national regulations, etc.) and the quality of climate reporting.

SYNERGIES:

The Audit Committee and the Sustainability and Climate Action Committee meet jointly at least once a year, and whenever they deem it appropriate, in order to ensure coordination between both Committees and the effectiveness of sustainability control and risk management systems.

The following climate scenarios were considered in the physical risk analysis::

• SSP5-8.5 scenario (Business as Usual): corresponds to a future in which the world maintains a path of very rapid economic growth and is highly dependent on fossil fuels. In this scenario, demand for fossil-fuel energy continues to increase, implying global warming of around 4°C by 2100.

• SSP2-4.5 scenario (intermediate mitigation scenario): represents an intermediate pathway in which current trends continue without drastic changes, with moderate progress in sustainability but also limitations. Resulting global warming would be around 2.5-3°C by 2100.

• SSP1-2.6 scenario (strong mitigation scenario): sets out a sustainable future, with a rapid reduction in fossil fuel use and an ambitious energy transition. In this scenario, global warming would be limited to around 1.5-2°C by 2100.

Following the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), climate risks have been analysed, differentiating between physical risks and transition risks, as well as opportunities.

PHYSICAL RISKS

Physical risks are associated with increasingly intense climate phenomena such as extreme precipitation and temperatures, heatwaves, water stress or drought, sea-level rise and the risk of fluvial or coastal flooding. These risks can directly affect the resilience of airport infrastructure and its operations, causing damage to facilities that limits airport capacity, reductions in water availability, increases in energy and cooling costs, or operational restrictions-such as take-off weight limitations-that require adaptation measures in the medium and long term.

Aena's physical risk analysis covers short-term horizons (2024-25), medium-term (2033) and long-term (2053), taking into account the vulnerability of assets and activities based on their geographical location and lifespan. In addition, it ensures that the process is aligned with the Company's strategic and investment plans.

Accordingly, Aena has updated its adaptation plan for airports whose physical risks were categorised as critical, developing new strategies to adapt to them. For the network-wide climate change adaptation plan, individual adaptation plans were generated for 46 airports and 2 heliports.

These adaptation plans define the necessary measures to reduce the climate risks identified for each airport. Measures include strengthening cooling systems in terminal buildings, using heat-resistant runway materials to adapt to higher temperatures, new drainage systems to enable efficient and rapid evacuation of water during extreme rainfall, and the installation of water storage tanks and use of reclaimed water, among others.

TRANSITION RISKS

In the shift towards a low-carbon economy, Aena faces risks arising from adaptation to new regulatory and legal frameworks, the evolution of emerging technologies, the introduction of more demanding climate policies and changes in market dynamics. These factors can influence operating costs, investment timelines, competitiveness and the ability to anticipate sector trends in decarbonisation.

In order to better understand transition risks associated with climate change, Aena carried out a detailed analysis based on specific climate scenarios.

This approach makes it possible to assess the potential impact of regulatory, technological and market changes on the Company's activities, and to guide strategic decision-making towards a more resilient, efficient model aligned with global climate expectations.

NZE scenario (Net Zero Emissions by 2050): The NZE scenario represents a roadmap showing how the global energy system could reach net zero CO2

emissions by 2050, meeting the UN Sustainable Development Goals and limiting the rise in global temperature to 1.5°C by the end of the century. It is the most demanding scenario for organisations, since achieving it requires accelerated implementation of ambitious technological and regulatory measures, as well as high-impact investments that may require adapting corporate strategies in the short term.

Transition risks evaluated under this scenario are analysed for the same time horizons defined for physical risks, applying materiality criteria, that is, identifying those risks that could significantly affect economic results, operational continuity or corporate reputation.

According to probability and potential impact assessments, Aena's most significant transition risks are, by type:

• Regulatory: arising from regulations in the different regions where the company operates, with particular emphasis on European frameworks such as Fit for 55, Green Deal 2040 and the Clean Industrial Deal; and, at national level, the prohibition of flights where a high-speed rail (AVE) alternative exists.

• Technological: related to the transition to new technologies and sustainable fuels at airports, and the possible shortfall in electricity grid capacity to meet future supply needs.

• Market: linked to changes in tourism behaviour.

• Reputational: linked to potential failures to meet Aena's and its value chain's commitments to achieve net zero emissions.