12 | Corporate Responsibility Report 2014 / Aena

This is AENA

This is AENA | 13

What are we?

Aena, S.A. (previously Aena Aeropuertos, S.A.) is a state

trading company that manages Spanish airports and heliports

of general interest and via its subsidiary, Aena Internacional,

participates in the management of 15 airports in

different countries.

Purpose, legal status

Articles of incorporation

Associated, dependent and participatory companies

G4 Coverage • G4-3 Name of the

organisation

• G4-7 Type of ownership regime and legal status

• G4-13 Significant changes that have taken place during the period that is analysed in size, structure, share ownership or the supply chain of the organisation

Public service and regularisation

Significant changes

Given that Aena is a public limited company, it is subject to the regulations established by Royal Legislative Decree 1/2010, of 2 July, which approves the Consolidated Text of the Corporations Act and other similar legislation. Aena also has a specific regulatory framework deriving from its condition as a state-owned trading company for budgets, accounting, equity, financial control and contracting and airport management.

The current regulatory framework of the airport sector is established in Law 18/2014, of 15 October, which approves urgent measures for growth, competitiveness and efficiency established by the regime applicable to the provision of basic airport services.

Aena Aeropuertos, S.A. was created in December 2010, by virtue of Royal Decree-Law 13/2010. In July 2014, it was then called Aena, S.A. and, under the same legislative standards, the public business entity Aeropuertos Españoles y Navegación Aérea, is now called Enaire and operates as an independent company, exclusively exercising competences in air space and navigation, as well as coordinating national and international operations of the national air traffic management network.

The profound transformation undergone by Aena since the end of 2011 can be seen in the financial results of 2014, which was the culmination and final upturn of the company and which permitted it to be quoted on the Stock Exchange in February 2015, with definite success.

14 | Corporate Responsibility Report 2014 / Aena

What do we do?

SERVICES OUTSIDE THE

TERMINALCOMMERCIAL

Leases

LandStores

Duty-Free Shops

Food & Beverage

Rent a Car

Logistical Cargo Centres and Property Development

Advertising

Rest of services(Includes Other Commercial Operations, Banking

Services, Travel Agencies, Vending Machines, and Commercial Supplies, Use of Conference Rooms and

Filming and Recording)

Parking

Warehouses and Hangars

This is AENA | 15

Lines of business

Annual Report 2014 – Chapter “Activity/Lines of Business” pages 48-64

G4 Coverage • G4-4 Brands, products and

most important services

Passengers

Landings and take-offs

Security

Jetways

Handling

Fuels

Cargo

Catering

Rest of services (400Hz Utilisation Displays, Fire Protection Service, Left luggage,

Fast-Track and Others)

AERONAUTICS

Parking

16 | Corporate Responsibility Report 2014 / Aena

Where are we?

The Company manages

46 airports and 2 heliports

in Spain.

The ample and diverse network structure enables optimisation of costs via synergies and economies of scale, and offers higher and more uniform quality, without endangering the right of each airport to be autonomous in terms of operations and so offer its customers a tailor made service.

On the other hand, network management ensures economic sustainability of airports by permitting, under conditions of transparency, objectivity and non-discrimination, the sustainment of infrastructures that are in deficit.

Aena Internacional's activities are developed via shares in operating companies of active airports and its international presence can be seen in 15 airports (12 in Mexico, 2 in Colombia and 1 in the UK).

According to Aena estimates, 728 commercial airlines operate in its airport network that connect with 147 countries.

Vigo (VGO)

Santiago (SCQ)

A Coruña (LGC)

Asturias (OVD)

Santander (SDR)

León (LEN)Burgos (RGS)

Bilbao(BIO)

Huesca-Pirineos (HSK)

Zaragoza (ZAZ)

Girona-Costa Brava (GRO)

Sabadell (QSA)

Barcelona-El Prat (BCN)

Reus (REU)

Son Bonet (SBO)

Palma deMallorca (PMI)

Ibiza (IBZ) / Group I

Valencia (VLC) / Group I

Alicante-Elche (ALC) / Group I

Murcia-San Javier (MJV) / Group II

Albacete (ABC) / Group III

Jerez (XRY)

Almería (LEI) / Group II

Málaga-Costa del Sol (AGP)

Algeciras (AEI)Ceuta (JCU)

Melilla (MLN)

Granada-Jaén F.G.L. (GRX) / Group II

Sevilla (SVQ)

Córdoba (ODB)

Badajoz (BJZ)

Madrid-Cuatro Vientos (MCV)

Adolfo Suárez Madrid-Barajas (MAD)

Salamanca (SLM)

Valladolid (VLL)

Tenerife Norte (TFN)

Tenerife Sur (TFS)

El Hierro (VDE)

La Palma (SPC)

La Gomera (GMZ)

Lanzarote (ACE)

Gran Canaria (LPA)

Fuerteventura (FUE)

Group II

Group II

Group II

Group III

Group III

AP

Group III

Group III

Group III

Group IGroup Canarias

Group II

Group III

Group III

Group III

Group I

Group II

Group III

Group II

Group III

Group I

San Sebastián (EAS)Group III

Vitoria (VIT)Group III

Pamplona (PNA)Group III

Logroño (RJL)Group III

Group II

Group III

Group III

Group I

AP

Menorca (MAH)Group I

Group II

Group III

AP

This is AENA | 17

Airport classification by number of passengers:

PA: Principal airports

Canary Islands Group

Group I: Airports with more than 2 million pass / year

Group II: Airports with more than 500,000 pass/year They help to structure the territory and provide the connectivity that many cities need

Group III: Airports with less than 500,000 pass/year

Typology of airports

HUB

TOURIST

REGIONAL

HELIPORTS AND GENERAL AVIATION

Typology of airports

Annual Report 2014 – Chapter “Institutional information/Presentation” page 10

Aena network structure

Annual Report 2014 – Chapter “Institutional information/Presentation” page 11

Shares in Aena International:

Annual Report 2014 – Chapter “Activity/Lines of business/International” pages 48-64 65

G4 Coverage • G4-4 Brands, products and

most important services

• G4-6 Countries where the organisation operates

Vigo (VGO)

Santiago (SCQ)

A Coruña (LGC)

Asturias (OVD)

Santander (SDR)

León (LEN)Burgos (RGS)

Bilbao(BIO)

Huesca-Pirineos (HSK)

Zaragoza (ZAZ)

Girona-Costa Brava (GRO)

Sabadell (QSA)

Barcelona-El Prat (BCN)

Reus (REU)

Son Bonet (SBO)

Palma deMallorca (PMI)

Ibiza (IBZ) / Group I

Valencia (VLC) / Group I

Alicante-Elche (ALC) / Group I

Murcia-San Javier (MJV) / Group II

Albacete (ABC) / Group III

Jerez (XRY)

Almería (LEI) / Group II

Málaga-Costa del Sol (AGP)

Algeciras (AEI)Ceuta (JCU)

Melilla (MLN)

Granada-Jaén F.G.L. (GRX) / Group II

Sevilla (SVQ)

Córdoba (ODB)

Badajoz (BJZ)

Madrid-Cuatro Vientos (MCV)

Adolfo Suárez Madrid-Barajas (MAD)

Salamanca (SLM)

Valladolid (VLL)

Tenerife Norte (TFN)

Tenerife Sur (TFS)

El Hierro (VDE)

La Palma (SPC)

La Gomera (GMZ)

Lanzarote (ACE)

Gran Canaria (LPA)

Fuerteventura (FUE)

Group II

Group II

Group II

Group III

Group III

AP

Group III

Group III

Group III

Group IGroup Canarias

Group II

Group III

Group III

Group III

Group I

Group II

Group III

Group II

Group III

Group I

San Sebastián (EAS)Group III

Vitoria (VIT)Group III

Pamplona (PNA)Group III

Logroño (RJL)Group III

Group II

Group III

Group III

Group I

AP

Menorca (MAH)Group I

Group II

Group III

AP

18 | Corporate Responsibility Report 2014 / Aena

Main figures

Traffic

Traffic data

Annual Report 2014 – Chapter “Traffic Activity” page 36-47

Economic data

Financial information,

Annual Report 2014 – Chapter “Activity/Lines of Business” page 48-71

Annual Report 2014 – Chapter “Results analysis” /“Details of consolidated financial statements” page 88-90

G4 Coverage • G4-9 Size of the organisation, indicating: number of

employees; number of operations; net sales or net revenue; capitalisation , and quantity of products or services offered.

• AO01 Total number of annual passengers, broken down by passengers on international and domestic flights, by origin and destination and passengers in transit.

• AO03 Total tonnage of cargo.

Aena is the leading worldwide operator in terms of passenger volume.

2014 was characterised by solid financial results

Main traffic data

Key financial figures

195.9 million passengers

1.8 million flights

685,200 tonnes of merchandise

Total Revenue

Total Operating Expenses

EBITDA(2)

2,931.63,165.0

+8.0% -3.5% +16.5%

(+4.5% from 2013) (+2.3% from 2013) (+7.2% from 2013)

20132013

2,189.92,113.2

20142014

(1) Current costs include: Supplies, staff expenses excluding provision for the Voluntary Redundancy Social Plan, and other exploitation expenses.

(2) Adjusted EBITDA. Excludes impairment and loss of fixed assets and Voluntary Redundancy Social Plan provision.

2013

1,610.01,875.4

2014

This is AENA | 19

Model of governance and organisation

(*) The Legal and Asset Management Department has been vacant since July 9 2014. The necessary functions have been fulfilled since said date by Almudena Salvadores GarcÌa as Deputy Head of the Legal and Asset Management Department.

Composition of the Board of Directors

Annual Report 2014 – Chapter “Institutional information/ Administrative and management bodies” page 16

G4 Coverage • G4-34 Governance structure of the organisation,

without forgetting the committees of the upper governing body. Indicate which committees are responsible for decision making in economic, environmental and social issues

• G4-34 Governance structure of the organisation, without forgetting the committees of the upper governing body. Indicate which committees are responsible for decision making in economic, environmental and social issues

Chairman and CEO José Manuel Vargas Gómez

Chief Financial Officer Beatriz Puente Ferreras

Head of Legal Advice and Asset Management (*)

Vacant

Head of Chairman's Office Pedro de Miguel Orden

Head of Communication & Institutional Relations Antonio San José Pérez

Head of Internal AuditingRoberto Ángel Ramírez García

Head of Airports NetworkFernando Echegaray del

Pozo

Head of Commercial Servicesand Property Management

José Manuel Fernández Bosch

Head of Aena International

Rodrigo Marabini Ruiz

Chief of Aena S.A. Javier Marín San Andrés

Chief Organisation and Human Resources

María Begoña Gosálvez Mayordomo

The organisational structure

of Aena is geared towards

giving value to the company

under parameters of

efficiency and viability.

Throughout 2014, Aena

adopted a series of measures

designed to implement a

corporate governance model

in the organisation that

would respond to the legal

demands and those of its

future shareholders.

Aena has carried out a profound adaptation of its articles and other internal regulations, as well as those of the composition and operation of its governing bodies to adapt the organisation to a new status as quoted company. Aena has also set the challenge of complying in 2015 with the recommendations for good corporate governance established for quoted companies.

Board Committees

IPO leaflet pages 199 onwards

Management team profile

Annual Report 2014 – Chapter “Institutional information/ Administrative and management bodies” page 17-20

Remuneration of upper management

20 | Corporate Responsibility Report 2014 / Aena

Who can we count on?

• Customers: passengers and airlines are the centre of the entire airport process

• Investors: they determine our capacity for growth.

• Service providing partners (ground handling, commercial services, operators of other means of transport, customs, security and traffic): Aena depends on the services provided by third parties in its airport operations, which are therefore a source of value for our customers.

• Suppliers (construction, information systems/technologies, supplies, technical advice and assistance, financial institutions): The logistical chain enables efficient service provision to be maintained.

• Employees: a key factor in facing day to day challenges.

• Public administrations: they establish the legal framework for operations and territorial planning. Particular importance is given to local, regional and national institutions with responsibilities for tourism to promote airport connectivity.

• International bodies (EU, ICAO, ECAC, Eurocontrol, Agreement or

Program Groups): they establish the safety standards, fees and international competition framework and also identify and develop new strategic routes.

• Sector associations (Airports Council International - ACI – Europe: Slot Allocation Task Force (SATF), Technical and Operational Safety Committee, Facilitation Committee; Environmental Strategy Committee (ENVSTRAT), Noise Task Force, Climate Change Task Force, Airport Carbon Accreditation Task Force; CANSO - Finance Procurements Groups; EUACA - Policy Core Group; IATA; Mayor Group): they act as the sector lobby.

• Trade unions and business organisations (Training cooperation with universities and other bodies, cultural activities with foundations such as Fundación Aena, the Spanish Committee of Disabled Persons to study their needs in the area of air transport, National Lottery): they develop benchmark standards.

• Local communities: Airport activity should be compatible with the needs of the surroundings.

• Opinion creators: NGOs and the media mobilise society.

“THOSE WE SHARE THE FUTURE WITH”:

• Meetings

• Working groups

• Commissions

• Periodic surveys

• Suggestions boxes

• Telephone information services

• Complaints and claims reception and response systems

• AENA website and specific portals

• Reports, publications and communiques

Our environment G4-24, G4-25, G4-26 Fluid and constant willingness to listen1. 2.

This is AENA | 21

• Customers: attention, service quality and price.

• Investors: profitability and reliable and foreseeable business models

• Service providing partners: safety, ease of operations, affordable prices and requirements.

• Suppliers: Competitive transparency and concurrence, rigour and agility in processing, punctual payment.

• Employees: Fair salaries, Working Shifts and Environment, Recognition, Equality, Conciliation, Social benefits, Health and Safety, Stability, Professional development.

• Public administrations: Legal compliance, territorial structuring, socio-economic development, quality of service to the citizen.

• International bodies: Guaranteeing safety. collection of fees and capacity for innovation.

• Sector associations: Solutions for adapting to the context at every moment and capacity for innovation

• Trade unions business organisations: Ethics and transparency

• Local communities: Quality of life and responsibility.

• Opinion creators: Responsibility, transparency and integrity.

Expectations

Responses:

Risk map

Strategy

3.

5.

4.

6.

The business units design the operational plans in response to the identified risks/opportunities.

The Corporate Management and Operational Departments analyse the risks and opportunities arising from the expectations with the potential to have a significant effect on decision making.

The Management Committee evaluates the effectiveness of said plans to transfer them to the company strategy.

22 | Corporate Responsibility Report 2014 / Aena

Stakeholder Principal dialogue mechanisms

Passengers

• Periodic internal surveys on the quality of the service provided

• WAP and PDA service on flight information

• Telephone and face-to-face customer information and help desk services

• Rights and complaints

• Aena Web

Airlines

• Periodic internal surveys on the quality of the service provided

• Newsletter

• WAP and PDA service on flight information

• Telephone and face-to-face customer information and help desk services

• Complaints and claims reception and response systems

• Aena Web

Investors • Investor portal

Service providing partners

• Aena publications (including the Annual Report)

• Newsletter

• Press releases/press room

• Complaints and claims reception and response systems

• Sector / business associations

• Aena Web

• Organised airport visit program

Suppliers • Contractor portal, Telematic service portal

Main communication mechanisms with our interest groups

Aena is committed to transparency as a way of furthering dialogue, collaboration and accountability, as well as to help in the ongoing evaluation and strengthening of commitments towards stakeholders. This will to further the consolidation of an informed and participative company helps to fulfil our mission: To be more efficient and grow as a responsible company.

This way, in the strategic focus of Aena the relationship with its stakeholders is regarded as important, both from a perspective of corporate responsibility to meet their expectations and needs, and from the perspective of reputation, where perception of the organisation is fundamental in making the company sustainable G4-26.

The stakeholders are identified and selected by means of internal reflection processes by the management team, and from the framework of relationships of the collective strategies focused on satisfying their expectations and needs from the organisation (G4-25). Based on the new company model set out in 2015, investors have acquired a strategic importance, thus making them a key group of stakeholders.

To adequately manage the wide range of issues that might arise in each group of stakeholders, business and corporate departments of Aena also identify sub-groups that might require specific treatment.

This is AENA | 23

Agreements entered into by Aena

Employees:

• Meetings

• Management Chain

• Corporate intranet

• Employee Portal

• Notice board

• Satisfaction and motivation surveys of airport employees

• Welcome handbook given to workers when they start work with Aena

• Reports and communiqués

• Aena internal news magazine

• Trade unions

• HR intranet suggestions box

Public administrations

• Aena publications (including the Annual Report)

• Press releases/press room

• Complaints and claims reception and response systems

• Sector/business associations

• Aena Web

• Organised airport visit program

International Bodies

Sector associations • Aena publications (including the Annual Report)

• Press releases/press room

• Complaints and claims reception and response systems

• Sector/business associations

• Aena Web

• Organised airport visit program

Trade unions and business organisations

Local communities • Commissions, Telematic services portal

Opinion creators • Press Releases / Press room, social networks, Aena

Web; Aena TV

G4 Coverage • G4-12 Describe the supply

chain of the organisation

• G4-16 List with the national and international promotion associations and organisations the organisation belongs to

• G4-24 List of the interest groups linked to the organisation

• G4-25 Indicate the basis for selecting the interest groups the organisation works with

• G4-26 Focus of the organisation with regard to the participation of the interest groups (frequency and type).

24 | Corporate Responsibility Report 2014 / Aena

Aena: a responsible company

Aena: A RESPONSIBLE COMPANY a framework for doing things well

We are convinced that, in order to create long term value, it is essential to pay attention to results and to the way they are obtained.

For Aena, Corporate Responsibility (CR) represents a strategic function related to sustainability, competitiveness and the reputation of the company. The corporate responsibility policy provides the most appropriate framework for unifying and strengthening our identity, culture and conduct guidelines.

Our Corporate Responsibility Policy permits us to unify and strengthen our identity, culture and behaviour patterns and serves as a tool for guiding our actions in economic, social, environmental and ethical issues across the whole Company.

Vídeo “Aena showcases its most responsible values”

Efficiency

Ethical management and responsible leadership

Socialcommitment

Employees

Value chain

Environmental protection

RESPONSIBLEAENA

This is AENA | 25

"The value of reputation"

In 2014, Aena received a large number of awards acknowledging it as an excellent socially responsible company:

• Almeria Airport received a distinction from FAAM (Almeria Federation for Disabled People) for its work in helping people with reduced mobility through their service "Without Barriers".

• The service "Without Barriers" for services for individuals with reduced mobility (PMR) offered at Melilla Airport received the CERMI Melilla 2014 prize granted by the Spanish Committee Representing People with Disabilities (CERMI).

• Menorca Airport was chosen as best value airport among 55 international airports, at the satisfaction survey performed among its passengers by the Company Thomson Airways.

• Adolfo Suarez Madrid-Barajas Airport received the prize for the International Airport of the Year for the category "Large Airports" (with more than 25 million passengers), awarded by aircraft consultant CAPA-Centre for Aviation.

• The NGO Aldeas Infantiles acknowledged the work of Barcelona-El Prat Airport for their help with the programs of this organization to contribute with childhood and youth.

• Aena received first prize in the category "Rapid Delivery" within the fifth edition of the SAP Quality Awards 2014, acknowledging the implementation projects of SAP solutions for Spain and Portugal.

• Aena was awarded for its contribution to the National Transplant Organization (ONT) for transporting organs for transplants.

• Malaga-Costa del Sol Airport received the Airport Food Court of the Year award at the Airport Food & Beverage Conference and Awards 2014. In turn, the restaurant Kirei by Kabuki at Adolfo Suarez Madrid-Barajas Airport received the second prize for the category Airport Chef-Led and/or Fine Dinning Offer of the Year.

• The Equality, Health and Social Policies Board of Andalusia Council acknowledged the work of Federico Lorca Granada-Jaen Airport for transporting organs and medical staff for transplant practices.

• For the third year, the Barcelona-El Prat Airport received the Skytrax award for being the best airport in South Europe in the World Airport Awards 2014.

• Alicante-Elche Airport received the Tourism Award Benidorm City.

• Corporate Responsibility Policy

• Transparency commitment

• Principles and codes of conduct

G4 Coverage • G4-56 Description of

the values, principles, standards and regulations of the organisation, such as codes of conduct or codes of ethics