Airbus SE
Unaudited Condensed
IFRS Consolidated Financial Information
for the year ended 31 December 2022
Contents
1 Airbus SE Unaudited Condensed IFRS Consolidated Financial Statements...................................................................................2
Unaudited Condensed IFRS Consolidated Income Statement ..........................................................................................................2
Unaudited Condensed IFRS Consolidated Statement of Comprehensive Income .............................................................................3
Unaudited Condensed IFRS Consolidated Statement of Financial Position ......................................................................................4
Unaudited Condensed IFRS Consolidated Statement of Cash Flows ................................................................................................6
Unaudited Condensed IFRS Consolidated Statement of Changes in Equity......................................................................................82 Notes to the Airbus SE Unaudited Condensed IFRS Consolidated Financial Statements .............................................................91.

The Company .......................................................................................................................................................................92.

Ukraine Crisis........................................................................................................................................................................93.

Macroeconomic Environment .............................................................................................................................................. 10

4.

Accounting Policies ............................................................................................................................................................. 10

5.

Climate Impacts .................................................................................................................................................................. 10

6.

Acquisitions and Disposals .................................................................................................................................................. 11

7.

Related Party Transactions ................................................................................................................................................. 118.

Segment Information ........................................................................................................................................................... 12

9.

Revenue and Gross Margin ................................................................................................................................................ 13

10.

Research and Development Expenses ............................................................................................................................... 14

11.

Other Income and Other Expenses ..................................................................................................................................... 14

12.

Share of Profit from Investments Accounted for under the Equity Method and Other Income from Investments .................. 14

13.

Total Financial Result.......................................................................................................................................................... 14

14.

Income Taxes ..................................................................................................................................................................... 14

15.

Earnings per Share ............................................................................................................................................................. 14

16.

Intangible Assets and Property, Plant and Equipment ......................................................................................................... 15

17.

Investments Accounted for under the Equity Method ........................................................................................................... 15

18.

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

19.

Inventories .......................................................................................................................................................................... 15

20.

Provisions ........................................................................................................................................................................... 16

21.

Other Financial Assets and Other Financial Liabilities ......................................................................................................... 16

22.

Other Assets and Other Liabilities ....................................................................................................................................... 17

23.

Total Equity ......................................................................................................................................................................... 1724.

Net Cash ............................................................................................................................................................................. 17

25.

Litigation and Claims ........................................................................................................................................................... 19

26.

Number of Employees ......................................................................................................................................................... 21

27.

Events after the Reporting Date .......................................................................................................................................... 21

Airbus SE
Unaudited Condensed IFRS Consolidated Financial Information
for the year ended 31 December 2022

1
Airbus SE
Unaudited Condensed
IFRS Consolidated Financial Statements
Unaudited Condensed
IFRS Consolidated Income Statement(In € million)

Revenue
Cost of sales
Gross margin
Selling expenses
Administrative expenses
Research and development expenses
Other income
Other expenses
Share of profit from investments accounted for under the equity method
Other income from investments
Profit before financial result and income taxes
Interest income
Interest expense
Other financial result
Total financial result
Income taxes
Profit for the period

Note
9
9

10
11
11
12
12

13
14

Attributable toEquity owners of the parent (Net income)Non-controlling interests
Earnings per share
Basic
Diluted

15
15

2022
58,763(48,192)
10,571(788)(1,452)(3,079)
471
(590)
134
58
5,325
180
(412)
(18)
(250)
(939)
4,136

2021
52,149(42,518)
9,631
(713)
(1,339)(2,746)
594
(201)
40
76
5,342
88
(334)
(69)
(315)
(853)
4,174

4,247
(111)

4,213
(39)

€
5.40
5.39

€
5.36
5.36

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

2

Airbus SE
Unaudited Condensed IFRS Consolidated Financial Information
for the year ended 31 December 2022

Unaudited Condensed
IFRS Consolidated Statement of Comprehensive Income(In € million)

2022
4,136

2021
4,174

Items that will not be reclassified to profit or loss:
Re-measurement of the defined benefit pension plans
Income tax relating to re-measurement of the defined benefit pension plans
Change in fair value of financial assets
Income tax relating to change in fair value of financial assets
Share of change from investments accounted for under the equity method

3,530
(320)
(446)
56
241

2,613
(368)
(115)
1
134

Items that may be reclassified to profit or loss:
Foreign currency translation differences for foreign operations
Change in fair value of cash flow hedges
Income tax relating to change in fair value of cash flow hedges
Change in fair value of financial assets
Income tax relating to change in fair value of financial assets
Share of change from investments accounted for under the equity method
Other comprehensive income, net of tax
Total comprehensive income for the period

101(3,203)
857
(723)
22
122
237
4,373

175
(5,131)
1,409
(103)
25
33
(1,327)2,847

Attributable to:Equity owners of the parent
Non-controlling interests

4,485
(112)

2,901
(54)

Note

Profit for the period
Other comprehensive income

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

3

Airbus SE
Unaudited Condensed IFRS Consolidated Financial Information
for the year ended 31 December 2022

Unaudited Condensed
IFRS Consolidated Statement of Financial Position(In € million)

AssetsNon-current assets
Intangible assets
Property, plant and equipment
Investment property
Investments accounted for under the equity method
Other investments and other long-term financial assets
Non-current contract assets
Non-current other financial assets
Non-current other assets
Deferred tax assets
Non-current securities
Total non-current assets

Note

2022

2021

16
16

16,76816,505
37
2,067
4,190
26
781
1,872
4,683
6,013
52,942

16,367
16,536
41
1,672
4,001
27
691
901(1)
4,323
6,794
51,35332,202
4,953
665
1,501
2,542
2,850
704
1,762
15,82363,002
0
115,944

28,538
4,957(1)
537
1,377
1,451
2,393
552
1,317
14,572
55,6940
107,047

17
18
21
22
24

Current assets
Inventories
Trade receivables
Current portion of other long-term financial assets
Current contract assets
Current other financial assets
Current other assets
Current tax assets
Current securities
Cash and cash equivalents
Total current assets
Assets and disposal group of assets classified as held for sale
Total assets

19
18
21
22
24
24

(1) 2021 figures restated in accordance with 2022 presentation.

4

Airbus SE
Unaudited Condensed IFRS Consolidated Financial Information
for the year ended 31 December 2022

(In € million)

Equity and liabilities
Equity attributable to equity owners of the parent
Capital stock
Share premium
Retained earnings
Accumulated other comprehensive income
Treasury shares
Total equity attributable to equity owners of the parent
Non-controlling interests
Total equity
Liabilities
Non-current liabilities
Non-current provisions
Long-term financing liabilities
Non-current contract liabilities
Non-current other financial liabilities
Non-current other liabilities
Deferred tax liabilities
Non-current deferred income
Total non-current liabilities

Note

2022

2021

23

789
3,837
13,408(5,016)(68)
12,95032
12,982

787
3,712
6,834
(1,822)
(45)
9,466
20
9,486

6,896
10,631
22,044
10,117498
164
1750,367

10,771
13,094
18,620
6,562
583
116
8
49,754

4,127
2,142
13,261
23,869
4,073
3,803
817
503
52,595
0102,962
115,944

4,510
1,946
9,693
23,906
2,532
3,532
1,057
631
47,807
097,561
107,047

20
24
21
22

Current liabilities
Current provisions
Short-term financing liabilities
Trade liabilities
Current contract liabilities
Current other financial liabilities
Current other liabilities
Current tax liabilities
Current deferred income
Total current liabilities
Disposal group of liabilities classified as held for sale
Total liabilities
Total equity and liabilities

20
24

21
22

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

5

Airbus SE
Unaudited Condensed IFRS Consolidated Financial Information
for the year ended 31 December 2022

Unaudited Condensed
IFRS Consolidated Statement of Cash Flows(In € million)

2022

2021

Operating activities
Profit for the period attributable to equity owners of the parent (Net income)Loss for the period attributable to non-controlling interests

4,247
(111)

4,213
(39)

Adjustments to reconcile profit for the period to cash provided by operating activities:
Interest income
Interest expense
Interest received
Interest paid
Income tax expense
Income tax paid
Depreciation and amortisation
Valuation adjustments
Results on disposals of non-current assets
Results of investments accounted for under the equity method
Change in current and non-current provisions
Contribution to plan assets
Change in other operating assets and liabilities
Inventories
Trade receivables
Contract assets and liabilities
Trade liabilities
Other assets and liabilities
Cash provided by operating activities

(180)
412
250
(322)
939
(790)
2,716
(569)
25
(133)
(1,016)(601)
1,421(3,218)
(115)
3,300
3,309
(1,855)
6,288

(88)
334
111
(330)
853
(321)
2,325
(863)
(116)
(40)
(1,934)
(533)
1,067
2,405
379
(2,326)
194
415
4,639

(2,464)(1,928)

101

212

(188)

(25)

(777)

(577)

459
100

396
79

0
(1,851)
1,507(3,113)310(3,049)1,863(2,719)Note

Investing activities
Purchases of intangible assets, property, plant and equipment, investment property
Proceeds from disposals of intangible assets, property, plant and equipment andinvestment property
Acquisitions of subsidiaries, joint ventures, businesses and non-controlling interests(net of cash)
Payments for investments accounted for under the equity method, other investments
and other long-term financial assets
Proceeds from disposals of investments accounted for under the equity method,other investments and other long-term financial assets
Dividends paid by companies valued at equity
Disposals of non-current assets and disposal groups classified as assets held for saleand liabilities directly associatedPayments for investments in securities
Proceeds from disposals of securities
Cash (used for) investing activities

19, 24
24
24
22

6
24
24

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

6

Airbus SE
Unaudited Condensed IFRS Consolidated Financial Information
for the year ended 31 December 2022

(In € million)

Financing activities
Increase in financing liabilities
Repayment of financing liabilities
Cash distribution to Airbus SE shareholders
Dividends paid to non-controlling interests
Payments for liability for puttable instruments
Changes in capital and non-controlling interests
Change in treasury shares
Cash (used for) financing activities
Effect of foreign exchange rate changes on cash and cash equivalents
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period

7

Note

2022

2021

24
24
23

171
(1,348)(1,181)
(1)
135
145
(36)
(2,115)191
1,251
14,572
15,8230(2,295)
0
0
0
138
(22)
(2,179)392
133
14,43914,57223

24

Airbus SE
Unaudited Condensed IFRS Consolidated Financial Information
for the year ended 31 December 2022

Unaudited Condensed
IFRS Consolidated Statement of Changes in Equity(In € million)

Balance at
1 January 2021
Profit for the period
Other comprehensive
incomeTotal comprehensive
income for the period
Capital increase
Share-based payment(IFRS 2)
Cash distribution to Airbus
SE shareholders /Dividends paid to noncontrolling interests
Equity transaction(IAS 27)
Change in treasury
sharesBalance at
31 December 2021
Profit for the period
Other comprehensive
incomeTotal comprehensive
income for the period
Capital increase
Share-based payment(IFRS 2)
Cash distribution to Airbus
SE shareholders /Dividends paid to noncontrolling interests
Equity transaction(IAS 27)
Change in treasury
sharesBalance at
31 December 2022

Capitalstock

Equity attributable to equity holders of the parent
Accumulated othercomprehensive income
Financial
Foreignassets atCashcurrency
Share Retained
fair
flow
translation
premium earnings
value hedges adjustments

Treasuryshares

Total

Noncontrollinginterests

Total
equity

785
0

3,599
0

250
4,213

648
0

262
0

943
0

(42)
0

6,445
4,213

11
(39)

6,456
4,174

0

0

2,363

(192)

(3,710)227

0(1,312)(15)(1,327)

0
2

0
113

6,576
0

(192)
0

(3,710)
0

227
0

0
0

2,901
115

(54)
0

2,847
115

0

0

61

0

0

0

0

61

0

61

0

0

0

0

0

0

0

0

0

0

0

0

(53)

0

0

0

0

(53)

63

10

0

0

0

0

0

0

(3)

(3)

0

(3)

787
0

3,712
0

6,834
4,247

456
0

(3,448)
0

1,170
0

(45)
0

9,466
4,247

20
(111)

9,486
4,136

0

0

3,432

(1,091)(2,240)

137

0

238

(1)

237

0
2

0
125

7,679
0

(1,091)0(2,240)
0

137
0

0
0

4,485
127

(112)
0

4,373
127

0

0

115

0

0

0

0

115

0

115

0

0

(1,181)

0

0

0

0

(1,181)

0

0

(39)

0

0

0

0

(39)

125

86

0

0

0

0

0

0

(23)

(23)

0

(23)

789

3,837

13,408(635)(5,688)

1,307

(68)

12,95032

12,982

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

8(1) (1,182)

Airbus SE
Unaudited Condensed IFRS Consolidated Financial Information
for the year ended 31 December 2022

2
Notes to the Airbus SE
Unaudited Condensed
IFRS Consolidated Financial Statements
1.

The Company

The accompanying Unaudited Condensed IFRS Consolidated Financial Statements present the financial position and the results ofoperations 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 reportablesegments are Airbus, Airbus Helicopters and Airbus Defence and Space (see “– Note 8: Segment Information”). The Company is listedon the European stock exchanges in Paris, Frankfurt am Main, Madrid, Barcelona, Valencia and Bilbao. The Unaudited Condensed IFRS
Consolidated Financial Statements were authorised for issue by the Company’s Board of Directors on 15 February 2023.

2.

Ukraine Crisis

Russia's invasion of Ukraine on 24 February 2022 and the resulting export control restrictions and international sanctions against Russia,
Belarus and certain Russian entities and individuals have resulted in disruption to the Company’s business, its operations, data
management and supply chain.
Following the imposition of export control restrictions and sanctions by the EU, the UK, the US and other countries that are relevant to theCompany's business, the Company announced in March 2022 it has suspended the delivery of aircraft and support services to Russiancustomers, as well as the supply of spare parts, equipment and software to Russia. The Company is complying with all applicableregulations and sanctions to its facilities and operations in Russia.
The crisis has increased the Company’s exposure to supply chain disruption risk. Part of the titanium used by the Company is sourced
from Russia, both directly and indirectly through the Company’s suppliers. While geopolitical risks are integrated into the Company’stitanium sourcing policies, the impact of Russia’s invasion of Ukraine on the Company’s ability to source materials and components andany future expansion of sanctions is continuously being reviewed.
The Company is also indirectly exposed through its partnership into the joint venture ArianeGroup. Arianespace paid and received prepayments for the Soyuz program for which Roscosmos decided to suspend the rocket launches operated by Arianespace. Agreements
have been reached on pre-payments received with two of these clients. Negotiations are well advanced with the remaining customers.
Due to the above mentioned export control restrictions and sanctions, the Company has been unable to deliver two aircraft previously
recorded as sold at 31 December 2021. As a result, the associated revenues and margin have been derecognised as of 31 March 2022.
These aircraft have been remarketed in the second quarter 2022.
The Company’s revenues in 2022 were not materially affected by the Ukraine crisis.
As of 31 December 2022, the resulting recorded EBIT charge amounts to approximately € 0.1 billion, mainly relating to Airbus.

9Airbus SE
Unaudited Condensed IFRS Consolidated Financial Information
for the year ended 31 December 2022

3.

Macroeconomic Environment

In 2022, the Company has been operating in an adverse macroeconomic environment in light of high inflation, energy crisis, increasing
interest rates, but also remaining effects of the COVID-19 pandemic.
During 2022, the Company experienced increases in its labour rates, due to wage increases but also through the distribution of exceptional
premiums granted to employees to help them face inflation and the energy crisis. Furthermore, it also faced increases in raw material andenergy costs. The main impacts of inflation on the Company’s Consolidated Financial Statements have been assessed (see “– Note 9:
Revenue and Gross Margin). In particular, the Company concluded that the main material effect on the margin of its overtime contracts
or on the provision for loss at completion of the onerous contracts recognised as of 31 December 2022 was related to its A400M contract.
Furthermore, the strengthened US dollar versus the euro had a negative impact on the mark to market valuation of the hedge portfolio,
while higher interest rates led to a decrease in the bonds portfolio (for more details, see “– Note 21: Other Financial Assets and Other
Financial Liabilities”). The increase in interest rates also resulted in a decrease of the defined benefit obligations of the pension plans,
only partly offset by a decline in pension plan assets (see “– Note 20: Provisions”). Associated increases in discount rates did not resultin any further long-term assets impairment charges.
In addition, COVID 19 continued to cause impacts on the Company’s business especially related to its sales and operations in China.
This environment has further increased the Company’s exposure to supply chain disruption, already impacted by the consequences of
Russia’s invasion of Ukraine (see “– Note 2: Ukraine Crisis”). This supply chain disruption caused shortage or delay of materials andparts, hampering the Company’s production ramp-up. On the A320 Family programme, the ramp-up trajectory has been adapted with
suppliers. The Company is now progressing towards a monthly production rate of 65 aircraft by the end of 2024 and 75 in 2026. The A330
monthly production rate increased to around 3 at the end of 2022 as planned and the Company now targets to reach rate 4 in 2024. The
A350 monthly rate is now around 6 aircraft. In order to meet growing demand for widebody aircraft as international air travel recovers, andfollowing a feasibility study with the supply chain, the Company is now targeting a monthly production rate of 9 A350s at the end of 2025.

4.

Accounting Policies

The Unaudited Condensed IFRS Consolidated Financial Statements are prepared in accordance with International Financial ReportingStandards (“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 theabsolute figures.
The Company’s accounting policies and methods are unchanged compared to 31 December 2021. The implementation of amended
standards has no material impact on the Unaudited Condensed IFRS Consolidated Financial Statements as of 31 December 2022.

Agenda Decision published by the IFRS Interpretation Committee (“IFRS IC”)
In April 2021, IFRS IC published an agenda decision, “Configuration or Customisation Costs in a Cloud Computing Arrangement”, which
considered how an entity should account for configuration and customisation costs incurred in implementing these service arrangements.
IFRS IC concluded that these costs should be expensed, unless the criteria for recognising a separate asset are met. The Company did
not perform significant configuration or customisation on its software-as-a-service contracts. As a consequence, the IFRS IC decision has
no significant impact on the Unaudited Condensed IFRS Consolidated Financial Statements.

Use of Estimates and Judgements
In preparing the Unaudited Condensed IFRS Consolidated Financial Statements, management makes assumptions and estimates. Theseestimates are revised if the underlying circumstances have evolved or in light of new information. The underlying assumptions used forthe main estimates are similar to those described in the Company’s IFRS Consolidated Financial Statements as of 31 December 2021.

5.

Climate Impacts

Climate change may have a major impact on both the Company’s industrial operations and its upstream and downstream value chains,
including aircraft direct operations and the wider air transport ecosystem. Accordingly, climate-related risks can potentially affect theCompany’s business and competitiveness, its customers and other actors in the aviation industry. For more details, please refer to the
Risk Factors in the Report of the Board of Directors – 4.6 Risk Factors – Climate-Related Risks.
As of 31 December 2022, to the best of the Company’s judgment, there is no material impact on the Company’s assets and liabilities. The
Company considered the assumptions related to the life cycle of its programmes and the related impacts on long-lived assets andconcluded that there is no need for impairment.
Similarly, the Company did not identify any need for revision to the useful lives of the property, plant and equipment and intangible assets.

10

Airbus SE
Unaudited Condensed IFRS Consolidated Financial Information
for the year ended 31 December 2022

This is supported by the current demand for the Company’s products as demonstrated by its order backlog. As it relates to commercial
aircraft, the Company’s current portfolio already delivers significant CO2 reduction when compared to the previous generation aircraft.
Around 75% of the global commercial aircraft fleet is made up of older generation aircraft, therefore, renewing the fleet represents animmediate potential for aviation decarbonisation. Furthermore, the Company expects its commitment to certify all current aircraft andhelicopter programmes to be capable of flying on 100% Sustainable Aviation Fuels (SAF) by 2030 will play an important role in the sector’s
decarbonisation journey.
The Company has received approval from the Science Based Targets initiative (SBTi) for its greenhouse gas emission reduction nearterm targets. These targets, in line with the Paris agreement’s objectives, are based on climate science and cover the full set of theCompany’s emissions. Airbus intends to reduce its Scope 1 and Scope 2 industrial emissions by up to 63% by 2030, in line with a 1.5°C
pathway. The Company also committed to reducing by 46% the greenhouse gas emissions intensity generated by its commercial aircraftin service (Scope 3 - Use of Sold Product) by 2035.
In support of the overall sector ambition, the Company is investing in and accelerating its efforts on complementary strategic pathways toreduce its environmental footprint. Overall, a major portion of the Company capital expenditures, research & technology, and research &development expenses is linked to its commercial aircraft activities and the realisation of five decarbonisation pathways (see Report ofthe Board of Directors – 6.1.2 – Climate change). In 2022, the total research & development expenses amounted to € 3.1 billion(2021: € 2.7 billion).

6.

Acquisitions and Disposals

6.1

Acquisitions

On 20 June 2022, a Share Purchase Agreement has been signed between a consortium composed of the Company, Safran and Tikehau
ACE Capital, and Eramet for the acquisition of its subsidiary Aubert & Duval. The acquisition, which remains subject to certain conditions
precedent including regulatory approvals, is expected to be completed in early 2023.
On 20 July 2022, Satair USA, Inc. signed a Membership Interest Purchase Agreement under which it acquired 100% of the shares of VAS
Aero Services, LLC. VAS Aero Services provides aviation logistics and aftermarket services including end-of-life support. A preliminary
goodwill of € 67 million is recognised as of 31 December 2022 and the one year window period for the completion of the purchase priceallocation will end in June 2023.
On 31 December 2022, Airbus Helicopters Deutschland GmbH acquired 100% of the shares of ZF Luftfahrttechnik GmbH. ZF
Luftfahrttechnik was subsequently renamed Airbus Helicopters Technik GmbH. The company is a manufacturer of dynamic components
for light and medium helicopters and a maintenance, repair, and overhaul service partner for helicopter fleet. A preliminary goodwill of€ 60 million is recognised as of 31 December 2022 and the one year window period for the completion of the purchase price allocation
will end in December 2023.

6.2

Cash Flows from Disposals including Assets and Disposal Groups Classified as Held for Sale

The following table provides details on cash flows from disposals (resulting in assets and liabilities disposed) of subsidiaries, joint venturesand businesses:(In € million)

2022
0
0
0

Total selling price received by cash and cash equivalents
Cash and cash equivalents included in the disposed subsidiaries
Total

2021
310
0
310

In 2021, the aggregate cash flows from assets and disposals groups classified as held for sale resulted from the divestment of one of its
sites in France.

7.

Related Party Transactions

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

11

Airbus SE
Unaudited Condensed IFRS Consolidated Financial Information
for the year ended 31 December 2022

8.

Segment Information

The Company operates in three reportable segments which reflect the internal organisational and management structure according to thenature of the products and services provided.


Airbus — Development, manufacturing, marketing and sale of commercial jet passenger aircraft of more than 100 seats, freighter
aircraft and regional turboprop aircraft and aircraft components; aircraft conversion and related services. It also includes the holding
function of the Company and its bank activities.



Airbus Helicopters — Development, manufacturing, marketing and sale of civil and military helicopters; provision of helicopter
related services.



Airbus Defence and Space — Military Aircraft design, development, delivery, and support of military aircraft such as combat,
mission, transport and tanker aircraft and their associated services. Space Systems design, development, delivery, and support offull range of civil and defence space systems for telecommunications, earth observations, navigation, science and orbital systems.
Connected Intelligence provision of services around data processing from platforms, secure communication and cyber security.
Unmanned Aerial Systems design, development, delivery and service support. In addition, the main joint ventures design, develop,
deliver, and support missile systems and space launcher systems.

On 1 January 2022, Airbus Atlantic, a wholly-owned Airbus subsidiary, was established. The new company groups the strengths,
resources and skills of Airbus’s sites in Nantes and Montoir-de-Bretagne, the central functions associated with their activities, as well as
the STELIA Aerospace sites worldwide.
This unification is part of the transformation project announced in April 2021, aimed at strengthening the value chain of aerostructureassembly within Airbus’s industrial setup.
In addition, Airbus Aerostructures GmbH was established on 1 July 2022. The new wholly-owned Airbus subsidiary manages and delivers
large structural components to Airbus. It includes four production sites in Germany: the Hamburg plant and headquarters, the plant in
Stade, and the former Premium AEROTEC plants of Nordenham and Bremen. Adjacent Premium AEROTEC sites in Augsburg, Varel
and Braşov will initially remain in Premium AEROTEC GmbH and are planned to undergo restructuring and, upon successful restructuring,
to be integrated into Airbus Aerostructures GmbH by 30 June 2025.
These have no impact on the segment structure described above.
The following tables present information with respect to the Company’s business segments. As a rule, inter-segment transfers are carriedout 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 December 2022 is as follows:(In € million)
Total revenue
Internal revenue
Revenue
thereofsales of goods at a point in timesales of goods over time
services, including sales of spare parts
Profit before financial result and income taxes(EBIT)
thereof research and development expenses
Interest result
Other financial result
Income taxes
Profit for the period

Airbus41,428(622)
40,806

AirbusHelicopters
7,048
(291)
6,757

AirbusDefenceand Space
11,259(59)
11,200Eliminations
0
0
0

Consolidated
Airbus59,735(972)
58,76337,681
18
3,107

3,429
310
3,018

3,369
4,115
3,716

0
0
0

44,479
4,443
9,841

4,800
(2,607)

639
(275)

(118)
(266)

4
69

5,325
(3,079)
(232)
(18)
(939)
4,136

12

Airbus SE
Unaudited Condensed IFRS Consolidated Financial Information
for the year ended 31 December 2022

Business segment information for the year ended 31 December 2021 is as follows:(In € million)
Total revenue
Internal revenue
Revenue
thereofsales of goods at a point in timesales of goods over time
services, including sales of spare parts
Profit before financial result and income taxes(EBIT)
thereof research and development expenses
Interest result
Other financial result
Income taxes
Profit for the period

9.

Airbus36,164(425)
35,739AirbusHelicopters
6,509
(230)
6,279

AirbusDefenceand Space
10,186(55)
10,131Eliminations
0
0
0

Consolidated
Airbus52,859(710)
52,14933,455
20
2,264

3,298
192
2,789

3,076
3,557
3,498

0
0
0

39,829
3,769
8,551

4,175
(2,252)

535
(275)

568
(249)

64
30

5,342
(2,746)
(246)
(69)
(853)
4,174

Revenue and Gross Margin

Revenue increased by € +6,614 million to € 58,763 million (2021: € 52,149 million). The increase is mainly driven by higher aircraft
deliveries of 661 aircraft (in 2021: 611 aircraft) and higher contributions from Airbus Defence and Space and Airbus Helicopters. It also
reflects a positive foreign exchange impact at Airbus.
Revenue by geographical areas based on the location of the customer is as follows:(In € million)

2022
24,261
15,38013,549
2,598
2,086
889
58,763

EuropeAsia-PacificNorth America
Middle East
Latin America
Other countries
Total

2021
19,49015,970
10,546
2,256
980
2,907
52,149The gross margin increased by € +940 million to € 10,571 million compared to € 9,631 million in 2021, mainly driven by higher aircraft
deliveries. It includes a non-recurring positive impact related to the re-measurement of past service cost in the retirement obligations of€ 0.4 billion and the release of compliance-related provisions of € 0.3 billion (see “– Note 20: Provisions”), offset by additional losses on
A400M of € 0.5 billion, contract-related provisions of € 0.3 billion and exceptional premium granted to employees of € 0.3 billion. The grossmargin rate decreased from 18.5% to 18%.
The Company has performed an assessment of the impacts of inflation which mainly relate to the overtime contracts within Airbus Defence
and Space, in particular the A400M programme for € 0.2 billion.
In 2022, the Company has delivered a total of 115 A400M aircraft including 10 aircraft in 2022.
The Company has continued with development activities toward achieving the revised capability roadmap. Retrofit activities areprogressing in close alignment with the customer.
In 2021, an update of the contract Estimate At Completion (EAC) was performed and an additional charge of € 212 million recorded
reflecting mainly the updated estimates on the delivery pattern of the launch contract and the associated impact on unabsorbed costs. In
2022, an update of the contract EAC has been performed and an additional charge of € 477 million recorded. This mainly reflects updated
assumptions, including inflation and risks related to the remaining SOC3 contractual development milestones to be achieved.
Risks remain on the qualification of technical capabilities and associated costs, on aircraft operational reliability, on cost reductions andon securing export orders in time as per the revised baseline.
Defence export licences to Saudi Arabia were suspended by the German Government until 31 March 2020 and are awaiting renewal. In
2022, the Company updated its contract EAC which confirmed the 2021 position. The Company continues to engage with its customer toagree a way forward. The outcome of these actions is presently unclear but could result in further significant financial impacts.

13

Airbus SE
Unaudited Condensed IFRS Consolidated Financial Information
for the year ended 31 December 2022

In a notice of termination dated 9 June 2022, the Norwegian Defence Material Agency notified NHIndustries SAS ("NHI") of the Norwegian
Ministry of Defence's decision to terminate its contract for the supply of 14 NH90 helicopters. In a press release dated 10 June 2022, NHI
noted it "is extremely disappointed by the decision taken by the Norwegian Ministry of Defence and refutes the allegations being madeagainst the NH90 as well as against [NHI]." NHI considers the termination to be legally groundless and reserves its right to take anynecessary legal action to challenge it. The parties are engaging in discussions with a view to resolve this matter.

10.

Research and Development Expenses

Research and development expenses increased by € 333 million to € 3,079 million compared to € 2,746 million in 2021.

11.

Other Income and Other Expenses

Other income decreased by € -123 million to € 471 million compared to € 594 million in 2021. In 2022, it includes an insurance income of€ 200 million linked to the launch failure of the two satellites Pléiades Neo 5 and 6 in December 2022 (see “– Note 16: Intangible Assets
and Property, Plant and Equipment”). In 2021, it included a restructuring provision release of € 207 million and the gain of € 122 million
for the divestment of one of its sites to a joint venture.
Other expenses increased by € 389 million to € -590 million compared to € -201 million in 2021, mainly due to the impact of € -437 million
linked to the launch failure of the two satellites Pléiades Neo 5 and 6 in December 2022 (see “– Note 16: Intangible Assets and Property,
Plant and Equipment”).

12.

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 increased by € 76 million to € 192
million compared to € 116 million in 2021, mainly linked to higher share of result from equity investments, partly offset by the dividends
received in 2021 from other investments classified at fair value through OCI.

13.

Total Financial Result

Total financial result improved by € +65 million to € -250 million compared to € -315 million in 2021. This is mainly driven by therevaluation of certain equity investments (see “– Note 18: Other Investments and Other Long-Term Financial Assets”) and a net positive
impact from the revaluation of financial instruments partly offset by the negative impact from the foreign exchange valuation of monetary
items.

14.

Income Taxes

The income tax expense amounts to € -939 million (2021: € -853 million) and corresponds to an effective income tax rate of 18.5%. This
includes impacts on the tax-free revaluation of certain equity investments under IFRS 9, tax risk updates and deferred tax asset
impairments. In addition, the establishment of Airbus Aerostructures GmbH and the restructuring of Premium AEROTEC GmbH(see “ – Note 8: Segment Information”) led to a release of deferred tax asset impairment of € 536 million out of which € 336 million recordedin the income statement and € 200 million in other comprehensive income.

15.

Earnings per ShareProfit for the period attributable to equity owners of the parent (Net income)Weighted average number of ordinary shares
Basic earnings per share

14

2022
€ 4,247 million
787,080,579€ 5.402021€ 4,213 million
785,326,074€ 5.36

Airbus SE
Unaudited Condensed IFRS Consolidated Financial Information
for the year ended 31 December 2022

Diluted earnings per share – The Company’s dilutive potential ordinary shares are equity-settled Performance Shares relating to LongTerm Incentive Plans (“LTIP”).
In 2022, a total of 672,906 equity-settled Performance Shares was considered in the calculation of diluted earnings per share. LTIP 2022
plan has been excluded from the calculation because of its antidilutive effect.

Profit for the period attributable to equity owners of the parent (Net income),
adjusted for diluted calculation
Weighted average number of ordinary shares (diluted)
Diluted earnings per share

16.

2022

2021

€ 4,247 million
787,753,485€ 5.39€ 4,213 million
785,761,995€ 5.36

Intangible Assets and Property, Plant and Equipment

Intangible assets increased by € +401 million to € 16,768 million (2021: € 16,367 million). Intangible assets mainly relate to goodwill of€ 13,165 million (2021: € 13,028 million). The increase in goodwill is primarily due to the acquisitions of VAS Aero Services, LLC and ZF
Luftfahrttechnik GmbH (see “– Note 6: “Acquisitions and Disposals”).
Property, plant and equipment decreased by € -31 million to € 16,505 million (2021: € 16,536 million). Property, plant and equipment
include right-of-use assets for an amount of € 1,746 million as of 31 December 2022 (2021: € 1,698 million).
Following the launch failure of the two satellites Pléiades Neo 5 and 6 on 21 December 2022, the corresponding fixed assets were writtenoff for a total of € 248 million and an impairment of € 184 million has been recorded for the remaining Pléiades Neo assets value partly
offset by the insurance receivable of € 200 million, all recognized as of 31 December 2022 in other income and other expenses (see “–Note 11: Other Income and Other Expenses”).

17.

Investments Accounted for under the Equity Method

Investments accounted for under the equity method increased by € +395 million to € 2,067 million (2021: € 1,672 million). They mainly
include the equity investments in ArianeGroup, MBDA and ATR GIE.

18.

Other Investments and Other Long-Term Financial Assets(In € million)

Other investments
Other long-term financial assets
Total non-current other investments and other long-term financial assets
Current portion of other long-term financial assets
Total

31 December
2022
2,641
1,549
4,190
665
4,855

2021
2,511
1,490
4,001
537
4,538

Other investments mainly comprise the Company’s participations and include the remaining investment in Dassault Aviation (9.90%,
2021: 9.90%) amounting to € 1,309 million at 31 December 2022 (2021: € 786 million). It is partly offset by the decrease in fair value ofother investments.
Other long-term financial assets and the current portion of other long-term financial assets include other loans in the amount of€ 2,129 million as of 31 December 2022 (2021: € 1,909 million), and the sales financing activities in the form of finance lease receivables
and loans from aircraft financing.

19.

Inventories

Inventories of € 32,202 million (2021: € 28,538 million) increased by € +3,664 million. This is driven by Airbus (€ +3,825 million), mainlyreflecting the inventory build up to support ramp up. It also includes higher advance payments made to suppliers.

15

Airbus SE
Unaudited Condensed IFRS Consolidated Financial Information
for the year ended 31 December 2022

20.

Provisions(In € million)

Provisions for pensions
Other provisions
Total
thereof non-current portion
thereof current portion

31 December
2022
3,509
7,514
11,023
6,896
4,127

2021
7,072
8,209
15,281
10,771
4,510

As of 31 December 2022, provisions for pensions decreased by € -3.6 billion. It mainly reflects the increase of the discount rates inGermany, France, Canada and the UK of € 7.8 billion, resulting from market volatility related mainly to the Ukraine crisis. It is partly offset
by deteriorated performance of the asset market values for € 2.7 billion and increased inflation assumptions particularly in Germany andFrance for € 0.5 billion.
As a consequence of the increased discount rates a non-current asset of € 0.6 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(see “– Note 22: Other Assets and Other Liabilities”).
Furthermore, due to the re-measurement of past service cost in the retirement obligation, a gain of € 0.4 billion was recognised in the firstquarter 2022.
Other provisions decreased mainly due to the decrease in provisions for onerous contracts due to the utilisation and net presentation of
the A400M programme losses against inventories, the reduction in the A220 programme and the release of compliance-related provisions.

21.

Other Financial Assets and Other Financial Liabilities

Other Financial Assets(In € million)

Positive fair values of derivative financial instruments
OthersTotal non-current other financial assets
Receivables from related companies
Positive fair values of derivative financial instruments
OthersTotal current other financial assets
Total

31 December
2022
753
28
781
1,104
1,141
297
2,542
3,323

2021
664
27
691
803
341
307
1,451
2,142

Other Financial Liabilities
31 December(In € million)

Liabilities for derivative financial instruments
European Governments' refundable advances
OthersTotal non-current other financial liabilities
Liabilities for derivative financial instruments
European Governments' refundable advances
Liabilities to related companies
OthersTotal current other financial liabilities
Total

2022
6,163
3,717
237
10,117
3,450
140
186
297
4,073
14,190

2021
2,640
3,730
192
6,562
1,923
131
180
298
2,532
9,094

The total net fair value of derivative financial instruments decreased by € -4,161 million to € -7,719 million (2021: € -3,558 million) as aresult of the strengthened US dollar versus the euro associated with the mark to market valuation of the hedge portfolio.
As of 31 December 2022, the total hedge portfolio with maturities up to 2029 amounts to US$ 76.4 billion (2021: US$ 88.3 billion) andcovers a major portion of the foreign exchange exposure expected over the hedging horizon. The average US$/€ hedge rate of the US$/€hedge portfolio until 2029 amounts to 1.24 US$/€ (2021: 1.25 US$/€).
In 2022, the European Governments’ refundable advances decreased by € -4 million to € 3,857 million (2021: € 3,861 million).
The allocation of European Governments’ refundable advances between non-current and current presented in the Consolidated Financial
Statements ended 31 December 2022 is based on the applicable contractual repayment dates.
16

Airbus SE
Unaudited Condensed IFRS Consolidated Financial Information
for the year ended 31 December 2022

22.

Other Assets and Other Liabilities

Other Assets
31 December
2022
337
149
1,386
1,872
1,732
448
161
509
2,850
4,722

(In € million)

Cost to fulfil a contract
Prepaid expenses
OthersTotal non-current other assets
Value added tax claims
Cost to fulfil a contract
Prepaid expenses
OthersTotal current other assets
Total

2021
301
116
484(1)
901
1,183
499
392
319
2,393
3,294

(1) 2021 figures restated in accordance with 2022 presentation.

As of 31 December 2022, non-current other assets include € 673 million of payments to be made to Airbus by suppliers after aircraft
delivery (2021: € 411 million). 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 December 2022, a non-current asset of € 0.6 billion has been accounted for to reflect the surplus in two pension funds in the UK
as a consequence of the increased discount rates (see “– Note 20: Provisions”).

Other Liabilities
31 December
2022
498
498
1,082
2,721
3,803
4,301

(In € million)

OthersTotal non-current other liabilities
Tax liabilities (excluding income tax)
OthersTotal current other liabilities
Total

2021
583
583
771
2,761
3,532
4,115

As of 31 December 2022, current other liabilities mainly comprise tax (excluding income tax) and personnel liabilities.

23.

Total Equity

The Company’s shares are exclusively ordinary shares with a par value of € 1.00. The following table shows the development of thenumber of shares issued and fully paid:
2022
786,083,690
2,121,318
788,205,008(647,500)
787,557,508(In number of shares)

Issued at 1 January
Issued for ESOP
Issued at 31 December
Treasury shares
Outstanding at 31 December

2021
784,149,270
1,934,420
786,083,690(454,735)
785,628,955

Holders of ordinary shares are entitled to dividends and to one vote per share at general meetings of the Company.
Equity attributable to equity owners of the parent (including purchased treasury shares) amounts to € 12,950 million (2021: € 9,466
million) representing an increase of € +3,484 million. This is mainly due to the net income for the period of € +4,247 million and a changein actuarial gains and losses of € +3,432 million, partly offset by the mark to market revaluation of the hedge portfolio of € -2,240 million,
the change in fair value of financial assets of € -1,091 million and a dividend payment of € -1,181 million (1.50 € per share).
The non-controlling interests (“NCI”) from non-wholly owned subsidiaries increased to € 32 million as of 31 December 2022 (2021:€ 20 million). These NCI do not have a material interest in the Company’s activities and cash flows.

24.

Net Cash

The net cash position provides financial flexibility to fund the Company’s operations, to react to business needs and risk profile and toreturn capital to the shareholders.
17Airbus SE
Unaudited Condensed IFRS Consolidated Financial Information
for the year ended 31 December 2022

31 December
2022
15,823
1,762
6,013
23,598(2,142)(10,631)(1,394)
9,431(In € million)

Cash and cash equivalents
Current securities
Non-current securities
Gross cash position
Short-term financing liabilities
Long-term financing liabilities
Interest rate contracts (1)
Total

2021
14,572
1,317
6,794
22,683(1,946)(13,094)
97
7,740

(1)
The Company has decided to refine the net cash definition to include interest rate contracts related to fair value hedges, which is also reflected in the2022 balance.

The net cash position on 31 December 2022 amounted to € 9,431 million (2021: € 7,740 million), with a gross cash position of€ 23,598 million (2021: € 22,683 million).

Cash and Cash Equivalents
Cash and cash equivalents are composed of the following elements:
31 December
2022
3,687
11,135
1,001
15,823(In € million)

Bank account and petty cash
Short-term securities (at fair value through profit or loss)
Short-term securities (at fair value through OCI)
Total cash and cash equivalents

2021
1,964
12,075533
14,572

Only securities with a maturity of three months or less from the date of the acquisition, that are readily convertible to known amounts ofcash and which are subject to an insignificant risk of changes in value, are recognised in cash equivalents.
Cash and cash equivalents have increased by € +1.3 billion from € 14.6 billion at 31 December 2021 to € 15.8 billion at 31 December
2022. They include payments received in advance from certain customers and payments made to suppliers in anticipation.
The main variations are as follows:
Cash provided by operating activities amounts to € +6.3 billion in 2022, mainly driven by a profit translated into cash, a positive phasing
impact from contracts assets and liabilities reflecting higher advance payments and a positive impact from net payments made to suppliersin anticipation. It also reflects an increase in trade liabilities driven by higher volume and payment terms increase linked to certain
agreements reached with suppliers. It is partly offset by the increase in inventory.
Cash used for investing activities amounts to € -3.1 billion, mainly reflecting capital expenditures.
Cash used for financing activities amounts to € -2.1 billion. It mainly includes the cash distribution to Airbus SE shareholders of € -1.2
billion and the bond buyback of € -1.0 billion.
Similar to previous years, the Company has supported its suppliers concerning supply chain financing arrangements. As of 31 December
2022, these arrangements have no impact on the Company’s Consolidated Financial Statements. The Company evaluates such suppliers’
early payment arrangements against a number of indicators to assess whether the payable continues to hold the characteristics of a trade
payable or should be classified as borrowings; these indicators include whether the payment terms exceed customary payment terms in
the industry. As at 31 December 2022, the payables subject to supplier financing arrangements do not meet the criteria to be reclassified
as borrowings.

Financing Liabilities
31 December(In € million)

2022
8,681
383
75
1,492
10,631
0
27
83
242
1,790
2,142
12,773

Bonds and commercial papers
Liabilities to financial institutions
Loans
Lease liabilities
Total long term financing liabilities
Bonds and commercial papers
Liabilities to financial institutions
Loans
Lease liabilities
Others (1)Total short term financing liabilities
Total
(1)

Included in “others” are financing liabilities to joint ventures.

18

2021
11,061467
75
1,491
13,094
0
26
96
245
1,579
1,946
15,040Airbus SE
Unaudited Condensed IFRS Consolidated Financial Information
for the year ended 31 December 2022

Long-term financing liabilities, mainly comprising of bonds and lease liabilities, decreased by € -2,463 million to € 10,631 million (2021:€ 13,094 million), mainly due to the decrease in the value of bonds linked to higher interest rates and a € 1 billion bond buyback performedin June 2022.
Short-term financing liabilities increased by € +196 million to € 2,142 million (2021: € 1,946 million).

25.

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 pastsignificant 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.

Investigation by the UK SFO, France’s PNF, US Departments of State and Justice and Related
Commercial Litigation
The Company reached final agreements (“the agreements”) with the French Parquet National Financier (“PNF”), the UK Serious Fraud
Office (“SFO”), and the US Department of Justice (“DoJ”) resolving the authorities’ investigations into allegations of bribery and corruption,
as well as with the US Department of State (“DoS”) and the DoJ to resolve their investigations into inaccurate and misleading filings madewith the DoS pursuant to the US International Traffic in Arms Regulations (“ITAR”). The agreements were approved and made public on
31 January 2020.
Under the terms of the agreements, the Company agreed to pay penalties of € 3,597,766,766 plus interest and costs to the French, UK
and US authorities. This was recognised in the Company’s 2019 accounts. The settlements with each authority were as follows:
PNF € 2,083,137,455, the SFO € 983,974,311, the DoJ € 526,150,496 and the DoS € 9,009,008 of which € 4,504,504 may be used forapproved remedial compliance measures. All penalties have been paid.
Under the terms of the Convention judiciaire d’intérêt public (“CJIP”) with the PNF, the Company has an obligation to submit its complianceprogramme to targeted audits carried out by the Agence Française Anticorruption (“AFA”) over a period of three years.
Under the terms of the Deferred Prosecution Agreement (“DPA”) with the SFO, no independent compliance monitor will be imposed on
the Company in light of the continuing monitorship to be conducted by the AFA.
Under the terms of the DPA with the DoJ, no independent compliance monitor will be imposed on Airbus under the agreement with the
DoJ, but the Company will periodically report on its continuing compliance enhancement progress during the three year term of the DPA
and carry out further reviews as required by the DoJ.
The agreements resulted in the suspension of prosecution for a duration of three years. This deferral period ended on 31 January 2023.
The Company awaits the formal determination by the authorities that it has complied with the agreements’ terms throughout the period
whereupon it expects the closure of the prosecutions in line with the procedural requirements of each country.
Under the terms of the Consent Agreement with the DoS, the DoS has agreed to settle all civil violations of the ITAR outlined in the
Company’s voluntary disclosures identified in the Consent Agreement, and the Company has agreed to retain an independent export
control compliance officer, who will monitor the effectiveness of the Company’s export control systems and its compliance with the ITAR
for a duration of three years.
As a result of the Company's decision to redirect export control compliance resources to ensure compliance with export control restrictions
and international sanctions announced against Russia, Belarus and certain Russian entities and individuals following Russia's invasion of
Ukraine on 24 February 2022, the Company asked the DoS to extend the Consent Agreement by nine months. The DoS has granted theextension. The Company does not expect the Consent Agreement extension to have an impact on the DPAs with the SFO and DoJ, noron the CJIP with the PNF, nor on the AFA's monitorship, as those are independent of the DoS's civil compliance programme review.
Any breach of the terms of the agreements by the Company could lead to rescission by the authorities of the terms of the agreements
and reopening of the prosecutions. Prosecution could result in the imposition of further monetary penalties or other sanctions including
additional tax liability and could have a material impact on the Financial Statements, business and operations of the Company.
In addition to any pending investigation in other jurisdictions, the factual disclosures made in the course of reaching the agreements may
result in the commencement of additional investigations in other jurisdictions. Such investigations could also result in (i) civil claims or
claims by shareholders against the Company, (ii) adverse consequences on the Company’s ability to obtain or continue financing for
current or future projects, (iii) limitations on the eligibility of group companies for certain public sector contracts, and/or (iv) damage to theCompany’s business or reputation via negative publicity adversely affecting the Company’s prospects in the commercial market place.
Airbus will continue to cooperate with the authorities in the future, pursuant to the agreements and to enhance its strong Ethics &Compliance culture within the Company.

19

Airbus SE
Unaudited Condensed IFRS Consolidated Financial Information
for the year ended 31 December 2022

Several consultants and other third parties have initiated commercial litigation and arbitration against the Company seeking relief. The
agreements reached with authorities may lead to additional commercial litigation and arbitration against the Company and tax liability inthe future, which could have a material impact on the Financial Statements, business and operations of the Company.

Securities Litigation
In August 2020, a putative class action lawsuit was filed in US federal court in the state of New Jersey against Airbus SE and membersof its current and former management. The Company was served with the complaint in the fourth quarter of 2021. The lawsuit was brought
on behalf of alleged shareholders that purchased or otherwise acquired Airbus SE securities in the US between 24 February 2016 and 30
July 2020, and asserted violations of US securities laws. The complaint alleged that defendants made 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 anticorruption compliance. The matter was fully and finally settled on 30 September 2022 in exchange for a payment in the amount of$5,000,000 USD without any acknowledgement of liability.
In addition, the Company received notification in August 2021 of two separate claims and in March 2022 of a third claim, all alleging similarfacts as the US class action. Three claims have been filed in the Netherlands purportedly on behalf of Airbus investors.
The first Dutch claim was filed 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 beassessed in follow on proceedings. This claim is now pending before the Amsterdam District Court.
The second Dutch claim was filed in December 2021 following a demand letter sent by a foundation incorporated under the laws of theNetherlands, a purported representative of unnamed institutional and retail investors worldwide, starting a class action against theCompany before the Dutch courts. This second Dutch claim targets the Company, certain of the Company's current and former directors
and officers, and the Company's current and former auditors.
The third Dutch claim was a class action filed in April 2022 against the Company by a foundation incorporated under the laws of theNetherlands. In accordance with Dutch procedural law, the two Dutch class action claims are treated jointly as one case.
The Dutch claims allege that the Company violated its reporting obligations by failing to adequately inform investors and providing false
or misleading information about its use of intermediaries and alleged corrupt practices, its related financial exposure, internal investigations
and subsequent measures taken by the Company, and related criminal investigations, which allegedly impacted the Company's shareprice.
The Company cannot exclude the possibility that additional claims are filed related to this subject matter attempting different theories ofrecovery in the same or different jurisdictions.
The Company believes it has solid grounds to defend itself against the allegations. The consequences of such litigation and the outcomeof the proceedings cannot be fully assessed at this stage, but any judgment or decision unfavourable to the Company could have amaterial 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 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 etd'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 legal elements ofthe case. However, the Paris Court of Appeal overturned the magistrates' decision and ordered trial for involuntary manslaughter. The
Company’s appeal to the French Supreme Court has been dismissed. The trial took place in the fourth quarter of 2022. The prosecutor
recommended a dismissal of all criminal charges against Air France and Airbus. The judgment of the Paris Criminal Court expected on
17 April 2023, if unfavourable to the Company, could result in damage to its business or reputation.

Qatar Airways Commercial Litigation
Citing surface degradation on some of its A350 fleet and alleging an underlying “design defect”, Qatar Airways filed a legal claim against
the Company in the London Commercial Court on 17 December 2021. On 1 February 2023, the parties announced they had reached anamicable and mutually agreeable settlement in relation to their legal dispute over A350 surface degradation and the grounding of A350
aircraft. The parties have proceeded to discontinue their legal claims. The settlement agreement is not an admission of liability for either
party. The parties have also agreed terms for the delivery of 50 A321 and 23 A350 aircraft.

Grand Canyon Helicopter Accident
On 10 February 2018, a fatal accident occurred in the Grand Canyon at a site called Quartermaster in Arizona involving an EC130 B4
helicopter operated by Papillon Helicopters impacting the canyon floor and catching fire, leading to five fatalities and two severely injured
persons. Following the accident, product liability claims were filed in Nevada state court in the US, including claims by the estate andparents of a deceased passenger and by the injured pilot of the helicopter. The Company intends to vigorously defend itself against theclaims, but such claims may generate negative publicity and reputational harm. The trial is scheduled to take place in the first quarter of2024. Any judgment or decision unfavourable to the Company could have a material adverse impact on the Financial Statements, businessand operations of the Company as well as on its reputation.

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Airbus SE
Unaudited Condensed IFRS Consolidated Financial Information
for the year ended 31 December 2022

Other Investigations
The Company cooperated fully with the authorities in relation to three investigations initiated by independent magistrates in France
concerning the activities of commercial intermediaries in Libya, Kazakhstan, Kuwait and several Eastern European countries. In
recognition of the fulsome nature of the cooperation and upon payment of a penalty of € 15.8 million, all three investigations were closed
by means of a Convention judiciaire d’intérêt public (“CJIP”) with the PNF on 30 November 2022. This ends all remaining prosecutions inFrance for similar historical activities.
In 2019, the Company self-reported to German authorities potentially improper advance receipt and communication of confidential
customer information by employees of Airbus Defence and Space GmbH. The information concerned relates to future German government
procurement projects. The self-disclosure by the Company followed an internal review with the support of an external law firm. Both theGerman Ministry of Defence and the Munich public prosecutor opened an investigation into the matter. The investigation could have an
impact on Airbus Defence and Space GmbH’s and Airbus Secure Land Communications GmbH’s ability to participate in future public
procurement projects in Germany. In 2021 the Munich prosecution issued a penalty notice against Airbus Defence and Space GmbH for€ 10 million for negligent violation of supervisory duties in connection with this matter. The Company continues to fully cooperate with
relevant authorities.

26.

Number of Employees
Airbus79,13473,56031 December 2022
31 December 2021

27.

AirbusHelicopters
20,803
20,126

Airbus Defence
and Space
34,33032,809Consolidated
Airbus134,267
126,495

Events after the Reporting Date

On 1 February 2023, Qatar Airways and Airbus announced they had reached an amicable and mutually agreeable settlement in relation
to their legal dispute over A350 surface degradation and the grounding of A350 aircraft. The parties have proceeded to discontinue theirlegal claims. The settlement agreement is not an admission of liability for either party (see “– Note 25: Litigation and Claims”). The parties
have also agreed terms for the delivery of 50 A321 and 23 A350 aircraft.

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