Q1 2026 Financial Statements

‌Contents

1. Airbus SE Unaudited Condensed Interim IFRS Consolidated Financial Statements 2

   Unaudited Condensed Interim IFRS Consolidated Income Statement 2

   Unaudited Condensed Interim IFRS Consolidated Statement of Comprehensive Income 3

   Unaudited Condensed Interim IFRS Consolidated Statement of Financial Position 4

   Unaudited Condensed Interim IFRS Consolidated Statement of Cash Flows 6

   Unaudited Condensed Interim IFRS Consolidated Statement of Changes in Equity 7

2. Notes to the Airbus SE Unaudited Condensed Interim IFRS Consolidated Financial Statements 8

   1. The Company 8

   2. Accounting Policies 8

   3. Geopolitical and Macroeconomic Environment 8

   4. Acquisitions and Disposals 8

   5. Related Party Transactions 9

   6. Segment Information 9

   7. Revenues and Gross Margin 10

   8. Research and Development Expenses 10

   9. Other Income and Other Expenses 11

   10. Share of Profit from Investments Accounted for under the Equity Method and Other Income from Investments 11

   11. Total Financial Result 11

   12. Income Taxes 11

   13. Earnings per share 11

   14. Investments Accounted for under the Equity Method 11

   15. Other Investments and Other Long-Term Financial Assets 12

   16. Inventories 12

   17. Provisions 12

   18. Other Financial Assets and Other Financial Liabilities 12

   19. Other Assets and Other Liabilities 13

   20. Total Equity 14

   21. Net Cash 14

   22. Financial Instruments 16

   23. Litigation and Claims 17

   24. Number of Employees 18

   25. Events after the Reporting Date 18

‌Unaudited Condensed Interim‌

IFRS Consolidated Income Statement

The accompanying notes are an integral part of these Unaudited Condensed Interim IFRS Consolidated Financial Statements.

‌Unaudited Condensed Interim‌

IFRS Consolidated Statement of Comprehensive Income

The accompanying notes are an integral part of these Unaudited Condensed Interim IFRS Consolidated Financial Statements.

‌Unaudited Condensed Interim‌

IFRS Consolidated Statement of Financial Position

The accompanying notes are an integral part of these Unaudited Condensed Interim IFRS Consolidated Financial Statements.

‌Unaudited Condensed Interim‌

IFRS Consolidated Statement of Cash Flows

The accompanying notes are an integral part of these Unaudited Condensed Interim IFRS Consolidated Financial Statements.

‌Unaudited Condensed Interim‌

IFRS Consolidated Statement of Changes in Equity

1. ‌The Company‌

   The accompanying Unaudited Condensed Interim IFRS Consolidated Financial Statements present the financial position and the results of operations of Airbus SE (together with its subsidiaries referred to as "the Company"), a European public limited-liability company (Societas Europaea) with its seat (statutaire zetel) in Amsterdam, The Netherlands, its registered address at Mendelweg 30, 2333 CS Leiden, The Netherlands, and registered with the Dutch Commercial Register (Handelsregister) under number 24288945. The Company's reportable segments are Airbus, Airbus Helicopters and Airbus Defence and Space (see "- Note 6: Segment Information"). The Company is listed on the European stock exchanges in Paris, Frankfurt am Main, Madrid, Barcelona, Valencia and Bilbao. The Unaudited Condensed Interim IFRS Consolidated Financial Statements were authorised for issue by the Company's Board of Directors on 28 April 2026.

2. ‌Accounting Policies‌

   The Unaudited Condensed Interim IFRS Consolidated Financial Statements (including the financial position and the results of operations of the Company as at and for the three months ended 31 March 2026) are prepared in accordance with International Financial Reporting Standards ("IFRS"), issued by the International Accounting Standards Board ("IASB") as endorsed by the European Union ("EU"). They are prepared and reported in euro ("€") and all values are rounded to the nearest million appropriately. Due to rounding, numbers presented may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures.

   These Unaudited Condensed Interim IFRS Consolidated Financial Statements are prepared in compliance with IAS 34 and should be read in conjunction with the IFRS Consolidated Financial Statements as of 31 December 2025. The Company's accounting policies and methods are unchanged compared to 31 December 2025. The implementation of new or amended standards has no material impact on the Unaudited Condensed Interim IFRS Consolidated Financial Statements as of 31 March 2026.

   Use of Estimates and Judgements

   In preparing the Unaudited Condensed Interim IFRS Consolidated Financial Statements, management makes assumptions and estimates. These estimates are revised if the underlying circumstances have evolved or in light of new information. The key estimates and judgements of the Company that have a significant influence on the amounts recognised in the Unaudited Condensed Interim IFRS Consolidated Financial Statements are the same as those described in the Company's IFRS Consolidated Financial Statements as of 31 December 2025.

3. ‌Geopolitical and Macroeconomic Environment‌

   The Company continues to operate in a complex and dynamic environment, in particular with geopolitical uncertainties and specific supply chain challenges, notably engine shortages from one supplier.

   Continued instability in the geopolitical environment persists in creating points of vigilance for the Company. While the current conflict in the Middle East is impacting trade routes (and in particular the supply of oil and other related products) and has led to disruptions of air traffic, as of 31 March 2026, no material impact has been recognised in the Company's Unaudited Condensed Interim IFRS Consolidated Financial Statements. The Company continues to assess this situation as it evolves.

4. ‌Acquisitions and Disposals‌

   Spirit Acquisition

   On 8 December 2025, after having received all required regulatory approvals, the Company completed the acquisition of certain Spirit AeroSystems, Inc. businesses related mainly to the execution by Spirit of certain supply contracts with Airbus (collectively, the "Spirit Acquired Businesses"). A preliminary goodwill of US$ 236 million (€ 203 million) was recognised as of 31 December 2025. The

   Company continues to review information relating to events or circumstances existing at the acquisition date that could impact the fair value estimates. The one-year window for the completion of the purchase price allocation ("PPA") will end at the latest in December 2026.

   Other acquisitions and disposals

   On 23 October 2025, the Company, Leonardo and Thales announced the signature of a memorandum of understanding to create a leading European player in space. The Company will contribute with its Space Systems and Space Digital businesses, coming from Airbus Defence and Space. The new company could be operational in 2027, subject to regulatory approvals and satisfaction of other closing conditions. Ownership of the new company will be shared among the parent companies, with Airbus, Leonardo and Thales owning respectively 35%, 32.5% and 32.5% stakes. It will operate under joint control, with a balanced governance structure among shareholders. As of 31 March 2026, this transaction did not meet the criteria to be classified as held for sale.

   On 7 November 2025, Satair, an Airbus company, entered into an agreement to acquire Unical Aviation Inc. ("Unical"), a global aircraft parts and components supplier of Used Serviceable Material ("USM") and its subsidiary ecube, a global expert in aircraft storage, disassembly, and transition services. The acquisition includes Unical's and ecube's six operational sites and offices across North America, Spain, and the United Kingdom, adding a strategic expansion to Satair Int's global footprint. The transaction is subject to the customary regulatory approvals and is still expected to be finalised in the first half-year 2026.

   On 23 March 2026, Airbus entered into a definitive agreement with the Cobham Ultra group, a portfolio company of Advent, for the acquisition of Ultra Cyber Ltd, based in Maidenhead, United Kingdom. This strategic move reinforces Airbus' position as a trusted, sovereign partner for the UK and a key supplier to its allies, while strengthening its presence in the European cybersecurity landscape. Closing of the transaction is subject to customary regulatory approvals and is expected in the second half-year 2026.

   Assets and Disposal Groups Classified as Held for Sale

   As of 31 March 2026, the Company continues intending to divest one of its subsidiaries. The assets and liabilities relating to this disposal are classified as held for sale for a net amount of € -21 million as of 31 March 2026. The transaction is expected to be closed in 2026.

5. ‌Related Party Transactions‌

   The Company has entered into various transactions with related entities; carried out in the normal course of business.

6. ‌Segment Information‌

   The following tables present information with respect to the Company's business segments. As a rule, inter-segment transfers are carried out on an arm's length basis. Inter-segment sales predominantly take place between Airbus and Airbus Defence and Space and between Airbus Helicopters and Airbus. Consolidation effects are reported in the column "Eliminations".

   The Company uses EBIT as a key indicator of its economic performance. Business segment information for the year ended 31 March 2026 is as follows:

   (In € million)	Airbus	Airbus Helicopters	Airbus Defence and Space	Eliminations	Airbus Consolidated
   Total revenue	8,436	1,604	2,832	0	12,872
   Inter-segment revenue	(117)	(85)	(19)	0	(221)
   Revenue	8,319	1,519	2,813	0	12,651
   thereof:
   sales of goods at a point in time	6,888	474	919	0	8,281
   sales of goods overtime	0	150	954	0	1,104
   services, including sale of spare parts	1,431	895	940	0	3,266
   Profit before financial result and income taxes (EBIT)	1	65	134	24	224
   thereof research and development expenses	(566)	(76)	(78)	(10)	(730)
   Interest result					1
   Other financial result					465
   Income taxes					(139)
   Profit for the period					551

   Business segment information for the year ended 31 March 2025 is as follows:

   (In € million)	Airbus	Airbus Helicopters	Airbus Defence and Space	Eliminations	Airbus Consolidated
   Total revenue	9,521	1,600	2,656	0	13,777
   Internal revenue	(128)	(88)	(19)	0	(235)
   Revenue	9,393	1,512	2,637	0	13,542
   thereof:
   sales of goods at a point in time	7,965	469	803	0	9,237
   sales of goods overtime	1	157	860	0	1,018
   services, including sale of spare parts	1,427	886	974	0	3,287
   Profit before financial result and income taxes (EBIT)	451	78	(31)	(25)	473
   thereof research and development expenses	(545)	(66)	(57)	(5)	(673)
   Interest result					20
   Other financial result					601
   Income taxes					(349)
   Profit for the period					745

   • Airbus EBIT decreased by € -450 million to € 1 million (first three months 2025: € 451 million). It mainly reflects the lower deliveries of 114 aircraft (first three months 2025: 136 aircraft) and a less favourable foreign exchange environment.

   • Airbus Helicopters EBIT remained stable at € 65 million (first three months 2025: € 78 million).

   • Airbus Defence and Space EBIT increased by € +165 million to € 134 million (first three months 2025: € -31 million). It is mainly due to higher volume and better performance across Airbus Defence and Space businesses. The first three months 2025 included a charge of € -0.1 billion related to the associated costs of the adaptation plan announced in 2024.

7. ‌Revenues and Gross Margin‌

   Revenue decreased by € -891 million to € 12,651 million (first three months 2025: € 13,542 million). The decrease is mainly driven by lower deliveries of 114 aircraft (first three months 2025: 136 aircraft) paired with a less favourable foreign exchange environment partly offset by higher volume across Airbus Defence and Space businesses.

   Revenue by geographical areas based on the location of the customer is as follows:

   (In € million)	1 January - 31 March 2026	1 January - 31 March 2025
   Europe	5,613	5,567
   Asia-Pacific	2,753	4,028
   North America	1,946	2,662
   Middle East	1,426	615
   Latin America	416	370
   Other countries	497	300
   Total	12,651	13,542

   The gross margin decreased by € -322 million to € 1,556 million compared to € 1,878 in the first three months 2025. It is mainly due to lower aircraft deliveries paired with a less favourable foreign exchange environment partly offset by higher volume and better performance across Airbus Defence and Space businesses.

   The gross margin rate decreased from 13.9% to 12.3%.

8. ‌Research and Development Expenses‌

   Research and development expenses increased by € 57 million to € 730 million compared to € 673 million in the first three months 2025.

   Research and development expenses mainly reflect the development of latest generation commercial aircraft programmes and activities to prepare technologies of the future.

9. ‌Other Income and Other Expenses‌

   Other income increased by € +22 million to € 55 million compared to € 33 million in the first three months 2025.

   Other expenses decreased by € 83 million to € -38 million compared to € -121 million in the first three months 2025 mainly due to the restructuring provision related to the Airbus Defence and Space adaptation plan announced in 2024 and recorded in the first three months 2025.

10. ‌Share of Profit from Investments Accounted for under the Equity Method and Other Income from Investments‌

    Share of profit from investments under the equity method and other income from investments remained stable at € 20 million compared to € 21 million in the first three months 2025.

11. ‌Total Financial Result‌

    Total financial result decreased by € -155 million to € 466 million compared to € 621 million in the first three months 2025. The financial result mainly reflects the revaluation of certain equity investments (see "- Note 15: Other Investments and Other Long-Term Financial Assets").

12. ‌Income Taxes‌

    The income tax expense amounts to € -139 million (first three months 2025: € -349 million) and corresponds to an effective income tax rate of 20.2%. This is related to the non-taxable impact from the revaluation of certain financial investments partly offset by the effect of the French surtax.

13. ‌Earnings per share‌

    (In € million)	1 January - 31 March 2026	1 January - 31 March 2025
    Profit for the period attributable to equity owners of the parent (Net income)	€ 586 million	€ 793 million
    Weighted average number of shares outstanding	787,227,745	787,433,498
    Basic earnings per share	€ 0.74	€ 1.01

    Diluted earnings per share - The Company's dilutive potential ordinary shares are equity-settled Performance Shares relating to

    Long-Term Incentive Plans ("LTIP").

    In the first three months 2026, a total of 1,406,067 equity-settled Performance Shares was considered in the calculation of diluted earnings per share.

    (In € million)	1 January - 31 March 2026	1 January - 31 March 2025
    Profit for the period attributable to equity owners of the parent (Net income)	€ 586 million	€ 793 million
    Weighted average number of shares outstanding (diluted)	788,633,812	788,579,719
    Diluted earnings per share	€ 0.74	€ 1.01

14. ‌Investments Accounted for under the Equity Method‌

    Investments accounted for under the equity method remained stable at € 2,375 million (prior year-end: € 2,360 million). They mainly include the equity investments in ArianeGroup, MBDA and ATR GIE.

15. ‌Other Investments and Other Long-Term Financial Assets‌

    (In € million)	31 March 2026	31 December 2025
    Other investments	3,843	3,499
    Other long-term financial assets	1,770	1,971
    Total non-current other investments and other long-term financial assets	5,613	5,470
    Current portion of other long-term financial assets	905	734
    Total	6,518	6,204

    Other investments mainly comprise the Company's participations and include the remaining investment in Dassault Aviation (10.65%, prior year-end: 10.56%) amounting to € 2,641 million as of 31 March 2026 (prior year-end: € 2,266 million).

    Other long-term financial assets and the current portion of other long-term financial assets include other loans in the amount of

    € 2,551 million as of 31 March 2026 (prior year-end: € 2,613 million), and the sales financing activities in the form of finance lease receivables and loans from aircraft financing.

16. ‌Inventories‌

    Inventories of € 46,922 million (prior year-end: € 41,676 million) increased by € +5,246 million. This is mostly driven by work in progress in order to support the ramp-up and higher level of finished goods.

17. ‌Provisions‌

    (In € million)	31 March 2026	31 December 2025
    Provisions for pensions	1,115	1,255
    Other provisions	6,807	7,090
    Total provisions	7,922	8,345
    Non-current provisions	3,759	3,976
    Current provisions	4,163	4,369

    As of 31 March 2026, provisions for pensions amount to € 1.1 billion (prior year-end: € 1.3 billion). It mainly reflects the actuarial gains on pension obligations from financial assumptions driven by the increase in the discount rates and the contributions to plan assets. It is partly offset by low performance on plan assets.

    As of 31 March 2026, a non-current asset of € 1.0 billion (prior year-end: € 0.8 billion) has been accounted for to reflect the surplus in two pension funds in the UK, the Airbus Section of the participation in BAE Systems Pension Scheme and the Company UK Pension Scheme, the Airbus Atlantique Pension Plan in Canada, as well as the German deferred compensation. (see "- Note 19: Other Assets and Other Liabilities").

    Other provisions decreased by € -284 million to € 6,806 million (prior year-end: € 7,090 million). It is mainly due to the utilisation of provisions for onerous contracts.

18. ‌Other Financial Assets and Other Financial Liabilities‌

    Other Financial Assets

    (In € million)	31 March 2026	31 December 2025
    Positive fair values of derivative financial instruments (1)	633	1,050
    Others	21	20
    Total non-current other financial assets	654	1,070
    Receivables from related companies	1,349	1,426
    Positive fair values of derivative financial instruments (1)	571	771
    Others	429	360
    Total current other financial assets	2,349	2,557
    Total	3,003	3,627

    1. See "- Note 22: Financial Instruments".

       Other Financial Liabilities

       (In € million)	31 March 2026	31 December 2025
       Liabilities for derivative financial instruments (1)	1,407	1,107
       European Governments' refundable advances (2)	3,611	3,620
       Others	79	82
       Total non-current other financial liabilities	5,097	4,809
       Liabilities for derivative financial instruments (1)	641	414
       European Governments' refundable advances (2)	206	202
       Liabilities to related companies	68	80
       Others	349	304
       Total current other financial liabilities	1,264	1,000
       Total	6,361	5,809

       1. See "- Note 22: Financial Instruments".

       2. Refundable advances from European Governments are provided to the Company to finance research and development activities for certain projects on a risk-sharing basis, i.e. they are repaid to the European Governments subject to the success of the project.

       The total net fair value of derivative financial instruments decreased by € -1,144 million to € -844 million (prior year-end: € 300 million) as a result of the strengthening of the US dollar spot rate in the first three months 2026.

       In the first three months 2026, the European Governments' refundable advances remained stable at € 3,817 million (prior year-end:

       € 3,822 million).

       The allocation of European Governments' refundable advances between non-current and current presented in the Condensed Interim IFRS Consolidated Financial Information ended 31 March 2026 is based on the applicable contractual repayment dates.

19. ‌Other Assets and Other Liabilities‌

    Other Assets

    (In € million)	31 March 2026	31 December 2025
    Cost to fulfil a contract	735	715
    Prepaid expenses	47	46
    Others	2,291	2,001
    Total non-current other assets	3,073	2,762
    Value added tax claims	2,037	1,924
    Cost to fulfil a contract	740	683
    Prepaid expenses	793	766
    Others	380	387
    Total current other assets	3,950	3,760
    Total	7,023	6,522

    As of 31 March 2026, others included into other assets comprise € 1,405 million of payments to be made to Airbus by suppliers after aircraft delivery (prior year-end: € 1,319 million) which are expected to be received over a rolling period of 15 years. They are recorded as a reduction of cost of goods sold at the time of aircraft delivery. These future payments are discounted to reflect specific contractual terms and repayment profile.

    As of 31 March 2026, a non-current asset of € 982 million (prior year-end: € 781 million) is accounted for in others to reflect the surplus in two pension funds in the UK (see "- Note 17: Provisions").

    Other Liabilities

    (In € million)	31 March 2026	31 December 2025
    Others (1)	450	477
    Total non-current other liabilities	450	477
    Tax liabilities (excluding income tax)	1,076	871
    Others (1)	4,215	3,352
    Total current other liabilities	5,291	4,223
    Total	5,741	4,700

    1. "Others" mainly comprises tax (excluding income tax) and personnel liabilities (e.g. Salaries, Social insurance contribution, Liabilities from personnel restructuring).

20. ‌Total Equity‌

    The Company's shares are exclusively ordinary shares with a par value of € 1.00. The following table shows the development of the number of shares issued and fully paid:

    (In number of shares)	31 March 2026	31 December 2025
    Issued as at 1 January	792,283,683	792,283,683
    Issued for ESOP	0	0
    Issued as at end of the period	792,283,683	792,283,683
    Treasury shares	(5,055,558)	(5,055,938)
    Outstanding as at end of the period	787,228,125	787,227,745

    Holders of ordinary shares are entitled to dividends and to one vote per share at general meetings of the Company.

    Equity attributable to owners of the parent (including purchased treasury shares) amounts to € 26,091 million (prior year-end:

    € 26,104 million) representing a decrease of € -13 million. This is mainly due to the mark to market revaluation of the hedge portfolio of

    € -819 million partly compensated by the net income for the period of € +586 million and the 2026 employee share ownership plan ("ESOP") campaign with share-based payment of € +234 million.

    The non-controlling interests ("NCI") from non-wholly owned subsidiaries increased to € 88 million as of 31 March 2026 (prior year-end: € 80 million). These NCI do not have a material interest in the Company's activities and cash flows.

21. ‌Net Cash‌

    The net cash is comprised of the following elements:

    (In € million)	31 March 2026	31 December 2025
    Cash and cash equivalents	11,872	14,128
    Current securities	2,999	3,093
    Non-current securities	10,366	9,997
    Gross cash position	25,237	27,218
    Short-term financing liabilities	(5,515)	(5,186)
    Long-term financing liabilities	(9,055)	(9,063)
    Interest rate contracts	(818)	(798)
    Total	9,849	12,171

    The net cash position on 31 March 2026 amounted to € 9,849 million (prior year-end: € 12,171 million), with a gross cash position of € 25,237 million (prior year-end: € 27,218 million).

    Cash and Cash Equivalents

    Cash and cash equivalents are composed of the following elements:

    (In € million)	31 March 2026	31 December 2025
    Bank account and petty cash	5,941	7,387
    Short-term securities (at fair value through profit or loss)	4,844	5,004
    Short-term securities (at fair value through OCI)	1,087	1,737
    Total cash and cash equivalents	11,872	14,128

    Only securities with a maturity of three months or less from the date of the acquisition, that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value, are recognised in cash equivalents.

    Cash and cash equivalents have decreased by € +2.2 billion from € 14.1 billion as of 31 December 2025 to € 11.9 billion as of 31 March 2026.

    The main variations are as follows:

    Cash provided by operating activities amounts to € -1.9 billion in the first three months 2026, driven by inventory build-up partly offset by a profit translated into cash and a positive impact from contract assets and liabilities.

    Cash used for investing activities amounts to € 0.8 billion, mainly reflecting capital expenditure and investments in securities. Cash used for financing activities amounts to € 0.2 billion.

    Financing Liabilities

    (In € million)	31 March 2026	31 December 2025
    Bonds and commercial papers	6,297	6,286
    Liabilities to financial institutions	320	329
    Loans	393	395
    Lease liabilities	2,045	2,053
    Total long term financing liabilities	9,055	9,063
    Bonds and commercial papers	1,491	1,479
    Liabilities to financial institutions	2	25
    Loans	75	129
    Lease liabilities	324	327
    Others (1)	3,623	3,226
    Total short term financing liabilities	5,515	5,186
    Total	14,570	14,249

    (1) Included in "others" are financing liabilities to joint ventures.

    Long-term financing liabilities, mainly comprising of bonds and lease liabilities,remained stable at € 9,055 million (prior year-end: € 9,063 million).

    Short-term financing liabilities increased by € +329 million to € 5,515 million (prior year-end: € 5,186 million).

    On 31 January 2023, the Company signed a lease agreement with Mobile Airport Authority ("MAA") for a new Final Assembly Line designed by Airbus and to be constructed in Mobile, Alabama on MAA owned land. The expected cost of construction is funded through the issuance of bonds by MAA for a nominal amount of US$ 1.0 billion, the proceeds of which are used solely for that purpose. The bonds are fully guaranteed by the Company which is supervising the construction and is liable for any cost overruns. As of 31 March 2026, the project has entered into service for a corresponding amount of US$ 939 million (no entry into service has been recorded in the first three months 2026). In accordance with IFRS 16 and the Company's accounting policies for the classification of interests' cash flows, the lease liability payments to be made over the lease term is recognised in financing cash flows for the principal portion and in operating cash flows for the interest portion.

22. ‌Financial Instruments‌

    The following table presents the composition of derivative financial instruments:

    (In € million)	31 March 2026	31 December 2025
    Non-current positive fair values	633	1,050
    Current positive fair values	571	771
    Total positive fair values of derivative financial instruments	1,204	1,821
    Non-current negative fair values	(1,407)	(1,107)
    Current negative fair values	(641)	(414)
    Total negative fair values of derivative financial instruments	(2,048)	(1,521)
    Total net fair values of derivative financial instruments	(844)	300

    The total net fair value of derivative financial instruments decreased by € -1,144 million to € -844 million (prior year-end: € 300 million) as a result of the strengthening of the US dollar spot rate in the first three months 2026.

    As of 31 March 2026, the total hedge portfolio with maturities up to 2030 amounts to US$ 56.2 billion (prior year-end: US$ 54.2 billion) and covers a significant portion of the foreign exchange exposure expected over the hedging horizon. The average US$/€ hedge rate of the US$/€ hedge portfolio until 2030 amounts to 1.23 US$/€ (prior year-end: 1.22 US$/€).

    Carrying Amounts and Fair Values of Financial Instruments

    Fair values of financial instruments have been determined with reference to available market information at the end of the reporting period and the valuation methodologies as described in detail in Note 37.2 to the 2025 IFRS Consolidated Financial Statements. For the first three months 2026, the Company has applied the same methodologies for the fair value measurement of financial instruments.

    Carrying amount is a reasonable approximation of fair value for all classes of financial instruments listed in the first table of Note 37.2 to the 2025 IFRS Consolidated Financial Statements, with the exception of:

    31 March 2026			31 December 2025
    (In € million)	Book Value	Fair Value	Book Value	Fair Value
    Financing liabilities
    Issued bonds and commercial papers	(7,788)	(8,046)	(7,765)	(8,113)
    Liabilities to banks and other financing liabilities	(4,413)	(4,413)	(4,104)	(4,104)

    Fair Value Hierarchy

    Depending on the extent the inputs used to measure fair values rely on observable market data, fair value measurements may be hierarchised according to the following levels of input:

    • Level 1: quoted prices (unadjusted) in active markets for identical assets and liabilities;

    • Level 2: inputs other than quoted prices that are observable for the asset or liability - fair values measured based on Level 2 input typically rely on observable market data such as interest rates, foreign exchange rates, credit spreads or volatilities;

    • Level 3: inputs for the asset or liability that are not based on observable market data - fair values measured based on Level 3 input rely to a significant extent on estimates derived from the Company's own data and may require the use of assumptions that are inherently judgemental and involve various limitations.

    The fair values disclosed for financial instruments accounted for at amortised cost reflect Level 2 input. Otherwise, the Company determines mostly fair values based on Level 1 and Level 2 inputs and to a lesser extent on Level 3 input.

    The following table presents the carrying amounts of the financial instruments held at fair value across the three levels of the fair value hierarchy:

    31 March 2026						31 December 2025
    (In € million)	Level 1	Level 2	Level 3	Total	Level 1	Level 2	Level 3	Total
    Financial assets measured at fair value
    Equity instruments	2,868	0	975	3,843	2,645	0	854	3,499
    Derivative instruments	0	1,204	0	1,204	0	1,821	0	1,821
    Securities	13,365	0	0	13,365	13,090	0	0	13,090
    Customer financing	0	0	125	125	0	0	92	92
    Cash equivalents	4,844	1,087	0	5,931	5,004	1,737	0	6,741
    Total	21,077	2,291	1,100	24,468	20,739	3,558	946	25,243
    Financial liabilities measured at fair value
    Derivative instruments	0	(2,048)	0	(2,048)	0	(1,521)	0	(1,521)
    Other liabilities	0	0	0	0	0	0	0	0
    Total	0	(2,048)	0	(2,048)	0	(1,521)	0	(1,521)

    As of 31 March 2026, the fair value of the written put options on non-controlling interests ("NCI puts") relating to ACLP amounts to € 0 million (prior year-end: € 0 million).

    The fair value of these NCI puts is derived from a discounted cash flow analysis using the latest operating plan and a projection over the lifetime of the A220 programme. In addition, a post-tax WACC of 8.77% is used to discount the forecasted cash flows, taking into account the specificities of the programme (prior year-end: 8.77%).

23. ‌Litigation and Claims‌

    The Company is involved from time to time in various governmental, legal and arbitration proceedings in the ordinary course of its business, the most significant of which are described below. Other than as described below, there are no material governmental, legal or arbitration proceedings (including any such proceedings which are pending or threatened) which may have or have had in the recent past significant effects on Airbus SE's or the Company's Financial Position or profitability.

    If the Company concludes that the disclosures relative to contingent liabilities can be expected to prejudice seriously its position in a dispute with other parties, the Company limits its disclosures to the nature of the dispute.

    Securities Litigation

    In August 2021 the Company received notification of two separate claims, and in March 2022 of a third claim, each filed in the Netherlands purportedly on behalf of Airbus investors. These claims (the "Dutch claims") were made in relation to the previously reported criminal investigations that led to the Company's agreements with the French Parquet National Financier ("PNF"), the UK Serious Fraud Office ("SFO"), the US Department of Justice ("DoJ") and the US Department of State ("DoS"), which were approved on 31 January 2020. The Dutch claims assert that the Company violated its reporting obligations, allegedly leading to an impact on the Company's share price, by failing to adequately inform investors and providing false or misleading information about the criminal investigations, the Company's use of intermediaries and alleged corrupt practices, and its related financial exposure, internal investigations and subsequent measures taken by the Company.

    The first Dutch claim was filed with the Amsterdam District Court in August 2021 by a special purpose vehicle incorporated under the laws of Guernsey, an assignee purportedly representing numerous private shareholders and institutional investors, seeking a declaratory judgment with damages to be assessed in follow on proceedings.

    The second Dutch claim was filed in December 2021 following a demand letter sent by a foundation incorporated under the laws of the Netherlands, a purported representative of unnamed institutional and retail investors worldwide, starting a class action against the Company before the Dutch courts. This second Dutch claim targets the Company and its former auditors, Ernst & Young. The third Dutch claim was a class action filed in April 2022 against the Company by a foundation incorporated under the laws of the Netherlands. In accordance with Dutch procedural law, the two Dutch class action claims were treated jointly as one case.

    The Dutch claims followed the filing in 2020 of a putative class action lawsuit in US federal court in the state of New Jersey, against Airbus SE and members of its current and former management. The US complaint asserted violations of US securities laws, alleging false and misleading statements or omissions concerning, among other things, the Company's agreements approved on 31 January

    2020 with the French PNF, the UK SFO, the US DoJ and the US DoS as well as the Company's historic practices regarding the use of third party business partners and anti-corruption compliance. The matter was fully and finally settled on 30 September 2022 in exchange for a payment in the amount of US$ 5 million without any acknowledgement of liability.

    In August 2023 the first Dutch claim was dismissed on the merits, with the plaintiff appealing this dismissal in November 2023. The second and third Dutch claims were dismissed on procedural grounds in September 2023, which plaintiffs appealed in December of that year. The first and third Dutch claims were fully and finally settled on 30 November 2024 for a non-material amount, without any acknowledgement of liability. On 23 December 2025 the Hague Court of Appeal affirmed the lower court's dismissal of the second Dutch claim, and the plaintiff appealed to the Supreme Court of the Netherlands in March 2026.

    Even should the Supreme Court allow the final claim to be reinstated, the Company believes it has strong grounds to defend the claim on the merits. The consequences of such litigation and the outcome of the proceedings cannot be fully assessed at this stage, but any judgment or decision unfavourable to the Company could have a material adverse impact on the Financial Statements, business and operations of the Company.

    Air France Flight 447 Trial

    On 1 June 2009, an A330 operated by Air France as flight AF447 from Rio de Janeiro to Paris disappeared over the Atlantic Ocean with 228 persons onboard. The wreckage was located in April 2011 after several search campaigns organised by the Bureau d'Enquêtes et d'Analyses (BEA), which published its final investigation report in July 2012. In the wake of the accident, the prosecutor in Paris opened an investigation for involuntary manslaughter and Airbus SAS was charged in March 2011. In September 2019, the investigating magistrates closed the investigation and dismissed all criminal charges after a thorough analysis of the technical and criminal legal elements of the case. However, the Paris Court of Appeal overturned the magistrates' decision and ordered a trial for involuntary manslaughter. The Company's appeal to the French Supreme Court was dismissed. Following a trial in the fourth quarter of 2022, the Paris Criminal Court announced in April 2023 that all criminal charges against the Company were dismissed, but sustained certain civil liability claims. The Paris General Prosecutor appealed the dismissal of criminal charges against Airbus and Air France, and a full retrial of the matter was held before the Paris Court of Appeal in the autumn of 2025, with a verdict scheduled for May 2026.

    HMRC Export Control Investigation

    Airbus is fully cooperating with an investigation by the Revenue and Customs Authority of the United Kingdom into possible violations of the United Kingdom's export control rules. It is not expected that the resolution of this matter will have a material financial impact.

24. ‌Number of Employees‌

    	Airbus	Airbus Helicopters	Airbus Defence and Space	Consolidated Airbus
    31 March 2026	106,128	24,384	36,364	166,876
    31 December 2025	105,128	23,922	36,244	165,294

    As of 31 March 2026, the total number of employees amounts to 166,876 (prior year-end: 165,294).

25. ‌Events after the Reporting Date‌

On 21 April 2026, Airbus has entered into an agreement for the acquisition of the French cybersecurity company Quarkslab, primarily based in Paris and Rennes, France. Closing of the transaction is subject to consultation with social partners as well as customary regulatory approvals, and is expected in the course of 2026.