2024 (Interim Report)

(A sino-foreign joint stock limited company incorporated in the People's Republic of China) Stock Code: 00694

Interim Report

Interim Report 2024 1

The board of directors (the "Board") of Beijing Capital International Airport Company Limited (the "Company") announces the operating results and unaudited financial results of the Company for the first half of 2024 which have been reviewed by the Audit and Risk Management Committee of the Company (the "Audit and Risk Management Committee") and the prospects for the second half of 2024 as follows:

SUMMARY OF FINANCIAL RESULTS

(All amounts are expressed in thousands of Renminbi ("RMB") except loss per share data)

2 Beijing Capital International Airport Company Limited

MANAGEMENT DISCUSSION AND ANALYSIS

Overview of Aeronautical Business

In the first half of 2024, the domestic aviation market of the PRC recovered steadily, while the recovery of the international aviation market remained relatively sluggish as affected by the global environment, geopolitical tensions and other factors. Beijing Capital Airport witnessed a steady recovery in air traffic volumes.

In the first half of 2024, with the recovery of the domestic aviation market, the air traffic volumes of domestic routes (excluding Hong Kong, Macau and Taiwan) of Beijing Capital Airport rebounded steadily. The air traffic volumes of international routes recovered gradually with the international aircraft movements and passenger throughput increasing significantly as compared to the same period of the previous year by virtue of the continuous relaxation of travel restrictions and the increasing international mobility. In respect of the air traffic volumes of Hong Kong, Macau and Taiwan routes, both the aircraft movements and passenger throughput of Hong Kong, Macau and Taiwan routes recovered significantly as compared with the same period of the previous year, which have similarly benefited from the recovery of regional routes and passenger demand. Overall, the cumulative aircraft movements at Beijing Capital Airport reached 211,420 sorties, representing an increase of approximately 20.2% as compared with the same period of the previous year. The cumulative passenger throughput reached 32,703,380 person-times, representing an increase of approximately 41.6% as compared with the same period of the previous year. The cumulative cargo and mail throughput reached 704,681 tonnes, representing an increase of approximately 48.9% as compared with the same period of the previous year. Detailed information is set out in the table below:

Interim Report 2024 3

Aeronautical Revenues

Unaudited

For the six months ended 30 June

20242023 Change

RMB'000 RMB'000

In the first half of 2024, benefiting from the robust recovery of the air traffic volumes of Beijing Capital Airport, the aeronautical business revenues of the Company increased steadily to a total amount of RMB1,285,649,000, representing an increase of approximately 41.3% as compared with the same period of the previous year.

4 Beijing Capital International Airport Company Limited

In the first half of 2024, revenues from aircraft movement fees and related income of the Company were RMB676,343,000, representing an increase of approximately 31.5% as compared with the same period of the previous year, which was mainly attributable to the rebound of aircraft movements of Beijing Capital Airport during the current period. In particular, driven by the international aircraft movements that have grown at a faster pace, the extent of increase in revenues from aircraft movement fees and related income of the Company was slightly higher than the extent of increase in aircraft movements. Revenues from passenger service income were RMB609,306,000, representing an increase of approximately 54.0% as compared with the same period of the previous year, which was mainly attributable to the increase in international passenger throughput along with the gradual recovery of international routes, and the passenger service income of international flights was higher than that of domestic flights, resulting in a slightly higher growth in passenger service income of the Company than that in passenger throughput.

Interim Report 2024 5

In the first half of 2024, the non-aeronautical business, which is closely related to the air traffic volumes of Beijing Capital Airport, showed a trend of continuous recovery. The non-aeronautical revenues of the Company were RMB1,398,224,000, representing an increase of approximately 30.1% as compared with the same period of the previous year.

In the first half of 2024, the concession revenues of the Company were RMB784,931,000, representing an increase of approximately 31.4% as compared with the same period of the previous year. Among these, the revenues from advertising were RMB356,132,000, representing an increase of approximately 15.0% as compared with the same period of the previous year, which was mainly attributable to the growth in passenger throughput of Beijing Capital Airport and hence a corresponding increase in the revenues from advertising. The revenues from retailing were RMB258,946,000, representing an increase of approximately 66.6% as compared with the same period of the previous year, which was mainly due to the higher opening rate of stores as well as the rebound of international passenger throughput which resulted in an increase in revenues from retailing. The revenues from restaurants and food shops were RMB79,239,000, representing an increase of approximately 87.1% as compared with the same period of the previous year, which was mainly attributable to the increase in food and beverage resources under the new food and beverage management agreement, coupled with the growth in passenger throughput, which led to a corresponding increase in revenues from restaurants and food shops during the current period. The revenues from car parking services were RMB28,662,000, representing an increase of approximately 17.4% as compared with the same period of the previous year, which was mainly due to the increase in passenger throughput, leading to a corresponding increase in revenues from car parking services. The revenues from other concessions were RMB14,544,000, representing a decrease of approximately 18.8% as compared with the same period of the previous year, which was mainly attributable to the timing difference in the recognition of the relevant revenues.

6 Beijing Capital International Airport Company Limited

In the first half of 2024, the rental income of the Company was RMB492,942,000, representing an increase of approximately 18.8% as compared with the same period of the previous year, which mainly benefited from the increase in Beijing Capital Airport's aircraft movements and passenger throughput during the current period, leading to a corresponding increase in rental income.

In the first half of 2024, the resources usage income of the Company was RMB90,375,000, representing an increase of approximately 58.6% as compared with the same period of the previous year, which was mainly attributable to the gradual recovery of passenger throughput at Beijing Capital Airport and an increase in the number of retail stores that maintained stable operations over a long period of time, resulting in an increase in resources usage income.

In the first half of 2024, other revenues of the Company were RMB29,976,000, representing an increase of approximately 411.1% as compared with the same period of the previous year, which was mainly attributable to the increase in the Company's entrusted management services provided for assets of the buildings numbered 6 and 9 at Beijing Capital Airport and the information systems for the Parent Company, which led to an increase in the relevant revenues.

Interim Report 2024 7

In the first half of 2024, the operating expenses of the Company were RMB2,900,362,000, representing an increase of approximately 5.2% as compared with the same period of the previous year.

In the first half of 2024, the depreciation and amortisation expenses of the Company were RMB743,864,000, representing a decrease of approximately 4.1% as compared with the same period of the previous year, which was mainly due to the decrease in depreciation during the current period as a result of the Company's adjustments to the depreciation life of fixed assets such as fixtures and motor vehicles since 1 January 2024.

8 Beijing Capital International Airport Company Limited

In the first half of 2024, the repair and maintenance expenses of the Company were RMB447,042,000, representing an increase of approximately 11.7% as compared with the same period of the previous year, which was mainly due to the increase in the frequency of using certain equipment and systems for production and operations as a result of the increase in business volume, leading to an increase in the costs of system maintenance.

In the first half of 2024, the aviation safety and security guard costs of the Company were RMB439,044,000, representing an increase of approximately 3.6% as compared with the same period of the previous year, which was mainly attributable to the timing difference in recognition of the relevant costs.

In the first half of 2024, the staff costs of the Company were RMB284,489,000, representing an increase of approximately 17.3% as compared with the same period of the previous year, which was mainly attributable to the timing difference in the recognition of the relevant costs.

In the first half of 2024, the utilities and power expenses of the Company were RMB261,073,000, representing an increase of approximately 13.6% as compared with the same period of the previous year, which was mainly due to the increase in electricity consumption as a result of the Company's improvement of the operating environment of the terminals at Beijing Capital Airport by such means as improving the luminance of lighting, increasing the operation hours of lighting and the supply of cooling services in advance.

In the first half of 2024, the operating contracted services costs of the Company were RMB223,999,000, representing an increase of approximately 5.5% as compared with the same period of the previous year, which was mainly due to the recovery in the number of flights and passenger throughput, resulting in the increase in demand for related operating contracted services at Beijing Capital Airport, and hence the increase in operating contracted services costs.

Interim Report 2024 9

In the first half of 2024, the concession management fees of the Company were RMB183,319,000, representing an increase of approximately 29.5% as compared with the same period of the previous year, which was mainly due to the rebound of passenger throughput and hence a corresponding increase in concession revenues from businesses such as advertising, retailing and food and beverage, resulting in the corresponding increase in the concession management fees that were charged in proportion to the concession revenues.

In the first half of 2024, the real estate and other taxes of the Company were RMB119,130,000, representing an increase of approximately 4.7% as compared with same period of the previous year, which was mainly due to the increase in real estate taxes assessable on rentals levied as a result of the growth in rental incomes.

In the first half of 2024, the greening and environmental maintenance costs of the Company were RMB102,094,000, representing a decrease of approximately 25.4% as compared with the same period of the previous year, mainly because the Company has adopted a series of cost control measures based on the actual demands while ensuring the operation and service quality, leading to the corresponding decrease in the greening and environmental maintenance costs.

In the first half of 2024, the other costs of the Company were RMB96,308,000, representing an increase of approximately 18.6% as compared with the same period of the previous year, which was mainly due to the increase in non- operating expenses due to retirement of assets, coupled with the increase in agency service fees.