EADS N.V.
Unaudited Condensed Consolidated Financial Information for the three-month period ended March 31, 2008

First quarter 2008 Report

Unaudited Condensed Consolidated
Financial Information of EADS N.V.
for the three-month period ended March 31, 2008
Unaudited Condensed IFRS Consolidated Income Statements ………………………………......…2
Unaudited Condensed IFRS Consolidated Balance Sheets….…..………….……………...……...…3
Unaudited Condensed IFRS Consolidated Cash Flow Statements……………....…...…………..…4
Unaudited Condensed IFRS Consolidated Statements of Recognised
Income and Expense..…………………………………………………….…………………………………..5Additional Information: Unaudited Condensed IFRS Consolidated Reconciliation of Movementin Equity attributable to equity holders of the parent and Minority interests…..…………….....…5
Explanatory notes to the Unaudited Condensed IFRS Consolidated Financial Statements
as at March 31, 2008…...……. ………………………………………….…………...…………..….....…....6
1. The Company……………………………………………………………………………………..…..6
2. Accounting policies……………….………………………………………………..…………….....6
3. Changes in the consolidation perimeter of EADS…………………………....…….……….....6
4. Segment information………………………………..…………..…………………………..………7
5. EBIT pre-goodwill impairment and exceptionals…..……..………………………………..…..8
6. Significant income statement items………….…………………..………….………..……........8
7. Significant balance sheet items…………………...…………………………………...……........9
8. Significant cash flow items……………………………………………………..…...…..……….11
9. Number of shares………………………………………………………..........................….....…12
10. Earnings per share……………………………………..……………….………...……………….12
11. Related party transactions ………………..…………………...…….……………………..……13
12. Number of employees ……………………………….……………….……………..........………13
13. Subsequent events ……………………………….……………………………..…….………..…131

13.05.2008

EADS N.V.
Unaudited Condensed Consolidated Financial Information for the three-month period ended March 31, 2008

Unaudited Condensed IFRS Consolidated Income Statements

January 1 March 31, 2008
Revenues
Cost of sales
Gross margin
Selling, administrative & otherexpenses
Research and development
expensesM€
9,853-8,145
1,708

January 1 March 31, 2007

%
100
-83
17

M€
8,934
-7,825
1,109

-485

-5

-534

Deviation

%

M€

%

100
-88
12

919
-320
599

10
4
54

-619

-7

134

-22

-5

-549

-6

15

-3

25

0

44

1

-19

-43

Other income
Share of profit from associates
under the equity method and otherincome from investments
Profit before finance costs andincome taxes
Interest income
Interest expenses
Other financial result
Total finance costs
Income taxes
Profit (loss) for the period

44

1

91

1

-47

-52

758
147
-154
-333
-340
-125
293

8
1
-2
-3
-4
-1
3

76
102
-135
-69
-102
17
-9

1
1
-1
-1
-1
0
0

682
45
-19
-264
-238
-142
302

897
44
14
383
233
-835
-3,356

Attributable to:Equity holders of the parent (Netincome (loss))
Minority interests

285
8

3
0

-10
1

0
0

295
7

-2,950700

Earnings per share
Basic and diluted

€

€

€

0.35

-0.01

0.36

Note: For retrospective adjustments concerning the first quarter 2007 please refer to Note 3 “Changes in the consolidation
perimeter of EADS”.

2

13.05.2008

EADS N.V.
Unaudited Condensed Consolidated Financial Information for the three-month period ended March 31, 2008

Unaudited Condensed IFRS Consolidated Balance Sheets

Non-current assets
Intangible assets
Property, Plant and Equipment
Investments in associates under theequity method
Other investments and other longterm financial assets
Non-current other assets
Deferred tax assets
Non-current securities
Current assets
Inventories
Trade receivables
Other current assets
Current securities
Cash and cash equivalents
Total assets
Total equity
Equity attributable to equity holders of
the parent
Capital StockReserves
Accumulated other comprehensive
incomeTreasury shares
Minority interests
Non-current liabilities
Non-current provisions
Long-term financing liabilities
Deferred tax liabilities
Other non-current liabilities
Current liabilities
Current provisions
Short-term financing liabilities
Trade liabilities
Current tax liabilities
Other current liabilities
Total liabilities
Total equity and liabilities

March 31, 2008
M€%

December 31, 2007
M€%

10,781
12,82114
17

10,832
13,489

14
18

-51
-668

0
-5

2,282

3

2,238

3

44

2

1,508

2

1,553

2

-45

-3

4,155
2,838
2,662
37,047

5
4
3
48

3,543
2,705
2,691
37,051

5
4
3
49

612
133
-29
-4

17
5
-1
0

19,310
4,239
5,824
3,548
6,400
39,321
76,368

25
6
8
5
8
52
100

18,906
4,639
5,713
1,598
7,549
38,40575,456

25
6
8
2
10
51
100

404
-400
111
1,950
-1,149
916
912

2
-9
2
122
-15
2
1

814
7,698

1
10

814
7,406

1
9

0
292

0
4

5,552

7

5,076

7

476

9

-180
13,88493
13,977

0
18
0
18

-206
13,09085
13,175

0
17
0
17

26
794
8
802

-13
6
9
6

8,201
2,975
2,706
14,796
28,678

11
4
4
19
38

8,055
3,090
2,188
14,88028,213

11
4
3
20
38

146
-115
518
-84
465

2
-4
24
-1
2

4,155
1,303
6,721
236
21,29833,71362,391
76,368

5
2
9
0
28
44
82
100

4,378
1,724
7,398
179
20,38934,06862,28175,456

6
2
10
0
27
45
83
100

-223
-421
-677
57
909
-355
110
912

-5
-24
-9
32
4
-1
0
1

3

Deviation
M€%

13.05.2008

EADS N.V.
Unaudited Condensed Consolidated Financial Information for the three-month period ended March 31, 2008

Unaudited Condensed IFRS Consolidated Cash Flow Statements
January 1 - March 31, January 1 - March 31,
2008
2007
M€
M€
Profit (loss) for the period attributable to equity holders of theparent (Net income (loss))
Profit attributable to minority interests
Adjustments to reconcile profit (loss) for the period (net income(loss)) to cash provided by (used for) operating activities
Depreciation and amortization
Valuation adjustments
Deferred tax expense (income)Change in income tax assets, income tax liabilities and provisions
for actual income tax
Results of disposal of non-current assets
Results of companies accounted for by the equity method
Change in current and non-current provisions
Change in other operating assets and liabilities
Cash provided by used for operating activities- Purchase of intangible assets, PPE- Proceeds from disposals of intangible assets, PPE- Proceeds from disposals of subsidiaries (net of cash)- Payments for investments in associates and otherinvestments and long-term financial assets- Proceeds from disposals of associates and otherinvestments and long-term financial assets- Proceeds from disposals of leased assets- Increase in finance lease receivables- Decrease in finance lease receivables

285
8

-10
1

420
518
107

447
102
-42

11
-13
-43
22
81
1,396
-326
0
0

-57
-86
-48
839
-1,611
-465
-500
36
30

-63

-203

21
45
0
43

150
32
-6
77

Disposals of non-current assets / disposal groups classified asheld for sale and liabilities directly associated with non-current
assets classified as held for sale
Change of securities
Cash used for investing activities
Change in long-term and short-term financing liabilities
Capital increase
Disposal of treasury shares
Cash used for financing activities
Effect of foreign exchange rate changes and other valuation
adjustments on cash and cash equivalents
Net decrease in cash and cash equivalents

0-1,918-2,198
-331
0
26
-305

27
70
-287
-373
5
8
-360

-42
-1,149-4-1,116

Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period

7,549
6,400

7,900
6,784

Note: For retrospective adjustments concerning the first quarter 2007 please refer to Note 3 “Changes in the consolidation
perimeter of EADS”.

As of March 31, 2008, EADS’ cash position (stated as cash and cash equivalents in the unaudited
consolidated cash flow statements) includes 590 M € (602 M € as of December 31, 2007), which
represent EADS’ share in MBDA’s cash and cash equivalents deposited at other shareholders. These
funds are available for EADS upon demand.

4

13.05.2008

EADS N.V.
Unaudited Condensed Consolidated Financial Information for the three-month period ended March 31, 2008

Unaudited Condensed IFRS Consolidated Statements of Recognised Income
and Expense
January 1 January 1 March 31, 2008 March 31, 2007

in M €
Currency translation adjustments for foreign operations

-68

-29

Changes in fair value of cash flow hedges

826

-431

Change in fair value of available-for-sale financial assets

-25

-45

0

-9

Tax on income and expense recognised directly in equity

-256

162

Income and expense recognised directly in equity

477

-352

Profit (loss) for the period

293

-9

Total recognised income and expense of the period

770

-361

762
8
770

-388
27
-361

Changes in actuarial gains and losses

Attributable to:Equity holders of the parent
Minority interests
Total recognised income and expense of the period

Note: For retrospective adjustments concerning the first quarter 2007 please refer to Note 3 “Changes in the consolidation
perimeter of EADS”.

Additional Information: Unaudited Condensed IFRS Consolidated
Reconciliation of Movement in Equity attributable to equity holders of theparent and Minority interests
in M €
Balance at January 1, 2007

Equityattributable toequity holders of
the parent
13,015

Minority
interests

total
137

13,152

-388

27

-361

Capital Increase

5

0

5

Sale of treasury shares

8

0

8

Change in minority interests

0

-94

-94

Others17017Balance at March 31, 2007

12,65770

12,727

Balance at January 1, 2008

13,09085

13,175

Total recognised income and expense

762

8

770

Sale of treasury shares

26

0

26

Others60

6

13,88493

13,977

Total recognised income and expense

Balance at March 31, 2008

Note: For retrospective adjustments concerning the first quarter 2007 please refer to Note 3 “Changes in the consolidation
perimeter of EADS”.

5

13.05.2008

EADS N.V.
Unaudited Condensed Consolidated Financial Information for the three-month period ended March 31, 2008

Explanatory notes to the Unaudited Condensed IFRS Consolidated Financial
Statements as at March 31, 2008
1. The Company
The accompanying Condensed Interim Consolidated Financial Statements (unaudited) present theoperations of European Aeronautic Defence and Space Company EADS N.V. and its subsidiaries(“EADS” or the “Group”), a Dutch public limited liability company (Naamloze Vennootschap) legallyseated in Amsterdam (Le Carré, Beechavenue 130-132, 1119 PR, Schiphol-Rijk, The
Netherlands), and are prepared and reported in Euros (“€”). EADS’ core business is the
manufacturing of commercial aircraft, civil and military helicopters, commercial space launchvehicles, missiles, military aircraft, satellites, defence systems and defence electronics andrendering of services related to these activities. The Unaudited Condensed IFRS Consolidated
Financial Statements for the three-month period ended March 31, 2008 were authorized for issue
by EADS’ Board of Directors on March 13, 2008.

2. Accounting policies
These Condensed Unaudited Consolidated Financial Statements have been prepared inaccordance with IAS 34 Interim Financial Reporting as adopted by the European Union (EU).
EADS’ Consolidated Financial Statements are prepared in accordance with International Financial
Reporting Standards (“IFRS”), adopted by the International Accounting Standards Board (“IASB”)
as endorsed by the EU. They comprise (i) IFRS, (ii) International Accounting Standards (“IAS”)
and (iii) Interpretations originated by the International Financial Reporting Interpretations
Committee (“IFRIC”) or former Standards Interpretation Committee (“SIC”).
New Interpretations
The following Interpretation has become effective as of January 1, 2008:
IFRIC 11 “IFRS 2 – Group and Treasury Share Transactions" (endorsed June 1, 2007). The
application of IFRIC 11 does not have an impact on EADS’ Consolidated Financial Statements.
Endorsement by the EU for IFRIC 12 and IFRIC 14 is expected by the end of 2008:
IFRIC 12 “Service Concession Arrangements” (issued November 30, 2006). The application of
IFRIC 12 is not expected to have a material impact on EADS’ Consolidated Financial Statements.
IFRIC 14 “IAS 19 – The Limit of a Defined Benefit Asset, Minimum Funding Requirements andtheir Interaction” (issued July 5, 2007). The application of IFRIC 14 is not expected to have an
impact on EADS’ Consolidated Financial Statements.
The accounting policies used in the preparation of the Condensed Interim Consolidated Financial
Statements are consistent with those used for the annual Consolidated Financial Statements forthe year ended December 31, 2007, which are disclosed as an integral part of the Group’s Annual
Report 2007. The annual Consolidated Financial Statements were authorised for issue by EADS’
Board of Directors on March 10, 2008.
3. Changes in the consolidation perimeter of EADSThe percentage of the proportionate consolidation of MBDA has changed from 50 % to 37.5 % asof January 1, 2007 reflecting EADS ownership in MBDA. Income statement, cash flow statement,
SORIE, reconciliation of movement in equity, segment information and the reconciliation to EBIT

6

13.05.2008

EADS N.V.
Unaudited Condensed Consolidated Financial Information for the three-month period ended March 31, 2008

pre-goodwill impairment and exceptionals have been adjusted retrospectively for prior period
figures published in prior year’s condensed quarterly consolidated financial information.
Acquisitions or disposals by the Group that occurred in the first three months of 2008 are notmaterial.
4. Segment information
The Group operates in five divisions (segments) which reflect the internal organizational andmanagement structure according to the nature of the products and services provided.
• Airbus — Development, manufacturing, marketing and sale of commercial jet aircraft of morethan 100 seats and the development and manufacturing of aircraft for military use.
• Military Transport Aircraft — Development, manufacturing, marketing and sale of militarytransport aircraft and special mission aircraft.
• Eurocopter — Development, manufacturing, marketing and sale of civil and military helicoptersand maintenance services.
• Defence & Security — Development, manufacturing, marketing and sale of missiles systems;
military combat and training aircraft; provision of defence electronics, defence-related
telecommunications solutions; and logistics, training, testing, engineering and other related
services.
• Astrium — Development, manufacturing, marketing and sale of satellites, orbital infrastructuresand launchers; and provision of space services.
The following table presents information with respect to the Group’s business segments.
Consolidation effects, the holding function of EADS Headquarters and other activities not allocableto the divisions are disclosed in the column “HQ/ Conso.”. “Other Businesses” mainly comprises
the development, manufacturing, marketing and sale of regional turboprop aircraft and lightcommercial aircraft, aircraft components as well as civil and military aircraft conversion andmaintenance services.

7

13.05.2008

EADS N.V.
Unaudited Condensed Consolidated Financial Information for the three-month period ended March 31, 2008

in M €

AirbusMilitary
Transport
AircraftEurocopter

Defence &Security

Astrium

Other
HQ/ Conso.
Businesses

Consolidated

Three-month period ended March 31, 2008
Revenues

7,057

636

732

990

751

297

-610

9,853

Research anddevelopment
expenses

-441

-1

-24

-35

-14

-2

-17

-534

EBIT pre-goodwill
imp. and exceptionals(see definition below)

628

-1

37

33

33

19

20

769

Three-month period ended March 31, 2007 *)Revenues

6,606

133

671

905

629

311

-321

8,934

Research anddevelopment
expenses

-467

-4

-19

-37

-12

-2

-8

-549

EBIT pre-goodwill
imp. and exceptionals(see definition below)

-69

-13

33

-5

10

20

112

88

*)

For change of percentage in proportionate consolidation of MBDA please refer to Note 3 “Changes in the consolidation
perimeter of EADS”. Some minor activities have been transferred to “Other Businesses”.

5. EBIT pre-goodwill impairment and exceptionals
EADS uses EBIT pre-goodwill impairment and exceptionals as a key indicator of its economic
performance. The term “exceptionals” refers to such items as depreciation expenses of fair value
adjustments relating to the EADS merger, the Airbus combination and the formation of MBDA, as
well as impairment charges thereon. It also comprises disposal impacts related to goodwill and fairvalue adjustments from these transactions. EBIT pre-goodwill impairment and exceptionals is
treated by management as a key indicator to measure the segments’ economic performances.
A reconciliation from profit before finance costs and income taxes to EBIT pre-goodwill impairment
and exceptionals is set forth in the following table (in M €):in M €
Profit before finance costs and income taxes

Janua ry 1 Ma rch 31, 200 8

Jan uary 1March 3 1, 2 007

758

76

11

12

769

88

Goodwill and exceptionals:
Exceptional depreciation (fixed assets in cost of sales)
EBIT pre-goodwill impairment and exceptionals

Note: For retrospective adjustments concerning the first quarter 2007 please refer to Note 3 “Changes in the consolidation
perimeter of EADS”.

6. Significant income statement items
Revenues of 9,853 M € (first quarter 2007 retrospectively changed by -50 M € to 8,934 M €)increase by 10% despite an unfavorable US Dollar impact, supported by a milestone revenue

8

13.05.2008

EADS N.V.
Unaudited Condensed Consolidated Financial Information for the three-month period ended March 31, 2008

recognition in relation to the A400M program compared to no milestone recognition in the firstquarter of 2007. Additionally, Airbus delivers more commercial aircraft (123 units versus 115 in thefirst quarter 2007) and also EADS Astrium, Defence and Eurocopter report increased volumes.
The Gross Margin increases by +599 M € to 1,708 M € compared to 1,109 M € in the
retrospectively modified first quarter of 2007. This increase mainly results from Airbus (in particular
due to the impact in the first quarter 2007 of accrued Power8 restructuring charges and positive
volume effects partly compensated by further A350XWB and A380 charges due to the spot rate
deterioration from end of 2007 to end of March 2008). Except for Other Businesses, the divisions
also increase gross margins.
Research and development expenses of -534 M € (first quarter 2007: -549 M €) mainly
decrease for the Airbus A380-800 partly compensated by an increase for the A350XWB.
Other income decreases by -19 M € to 25 M €. In the first quarter 2007, other income includes
among others gains from the sale of land and buildings.
Share of profit from associates under the equity method and other income frominvestments of 44 M € (first quarter 2007: 91 M €) is mainly influenced by the result of Dassault
Aviation of 43 M € (first quarter 2007: 48 M €). The result in the first quarter 2008 of Dassault
Aviation Group does not include any IFRS catch-up adjustments (first quarter 2007: +19 M €).
Additionally, in the first quarter 2007, the sale of EADS’ interest in Embraer resulted in a nonrecurring capital gain of 46 M €.
Net finance costs amount to -340 M € (first quarter 2007 retrospectively modified: -102 M €)including negative exchange effects and the unwinding of the discounts on A380, A350 andPower8 provisions under IFRS principles.
An income tax expense of -125 M € (first quarter 2007: an income tax benefit of +17 M €) results
in an effective income tax rate of 30%.

7. Significant balance sheet items
Non-current assets
Intangible assets of 10,781 M € (prior year-end: 10,832 M €) include 9,496 M € (prior year-end:
9,519 M €) of Goodwill. It mainly stems from Airbus (6,374 M €), Defence & Security (2,364 M €),Astrium (566 M €) and Eurocopter (111 M €). The related annual impairment tests, which were
performed at the end of the year 2007, did not lead to any impairment charges. Considering theincreasing weakness of the USD / € rate during the first three months 2008 an update of therespective sensitivity analysis was performed as at March 31, 2008. The conclusion of thissensitivity analysis, based on the current operating plan assumptions and figures, is that no
impairment of the Airbus Goodwill is indicated at the end of the first quarter 2008. The annual
Airbus Goodwill impairment test is scheduled to be performed at year-end 2008, based on the thenavailable information. This will take into account, amongst other factors, the then prevailing outlook
for USD foreign exchange rates, an updated Airbus operating plan, the Power8 expected
achievements as well as impacts from potential further management actions.
Eliminating foreign exchange-rate effects of -295 M €, property, plant and equipment decreaseby -373 M € to 12,821 M € (prior year-end: 13,489 M €), including leased assets of 1,128 M €(prior year-end: 1,319 M €). Property, plant and equipment comprises “Investment property”
amounting to 94 M € (prior year-end: 96 M €).

913.05.2008

EADS N.V.
Unaudited Condensed Consolidated Financial Information for the three-month period ended March 31, 2008

Investments in associates under the equity method of 2,282 M € (prior year-end: 2,238 M €)increase due to the change in the equity investment in Dassault Aviation, amounting to 2,164 M €(prior year-end: 2,121 M €).
Other investments and other long-term financial assets of 1,508 M € (prior year-end: 1,553 M€) are allocated to Airbus in the amount of 991 M € (prior year-end: 1,013 M €), mainly concerning
the non-current portion of aircraft financing activities with a foreign exchange rate effect of -48 M €.
Non-current other assets mainly comprise “Non-current derivative financial instruments” and“Non-current prepaid expenses”. The increase by +612 M € to 4,155 M € (prior year-end: 3,543 M€) is mainly caused by the variation of the non-current portion of fair values of derivative financial
instruments (+613 M €).
Deferred tax assets of 2,838 M € (prior year-end: 2,705 M €) are presented as non-current assets
as required by IAS 1.
The fair values of derivative financial instruments are included in non-current other assets with
an amount of 3,053 M € (prior year-end: 2,440 M €), in current other assets (3,058 M €, prior yearend: 2,955 M €), in other non-current liabilities (265 M €, prior year-end: 258 M €) and in othercurrent liabilities (149 M €, prior year-end: 36 M €) which corresponds to a total net fair value of
5,697 M € (prior year-end: 5,101 M €). The volume of hedged US dollar-contracts increases from
51.3 billion US dollar as at December 31, 2007 to 53.2 billion US dollar as at March 31, 2008. The
US dollar exchange rate became less favourable (USD / € spot rate of 1.58 at March 31, 2008 vs.
1.47 at December 31, 2007). The average US dollar hedge rate for the hedge portfolio of theGroup changed from 1.26 as at December 31, 2007 to 1.30 as at March 31, 2008 (US dollar / €rate respectively).

Current assets
Inventories of 19,310 M € (prior year-end: 18,906 M €) increase by +404 M €. This is mainly
driven by Eurocopter (+347 M €) due to a ramp-up of commercialized programs (mainly
SuperPuma, Dauphin, EC 135 and EC 145) and governmental programs, an increase in
unfinished goods and services at Defence & Security (+147 M €) and a higher work in progress at
Astrium (+130 M €), boosted by the satellite business. On the other hand, Airbus records a lower
level of advance payments paid to suppliers (-139 M €) and decreased unfinished goods andservices (-130 M €).
Other current assets include “Current portion of other long-term financial assets”, “Current otherassets”, “Current tax assets” and “Current prepaid expenses”. The increase of +111 M € to 5,824
M € (prior year-end: 5,713 M €) comprises among others an increase of +103 M € in positive fairvalues of derivative financial instruments.
Cash and cash equivalents decrease from 7,549 M € to 6,400 M € (see also note 8 “Significant
cash flow items”).

Total equity
Equity attributable to equity holders of the parent (including purchased treasury shares) amounts
to 13,884 M € (prior year-end: 13,090 M €). The increase is mainly due to income and expense
recognised in equity of +762 M €, primarily resulting from positive effects from changes in fairvalues of derivative financial instruments and the profit for the three-month period.
Minority interests slightly increase to 93 M € (prior year-end: 85 M €) due to the allocation ofrecognized income and expenses.

10

13.05.2008

EADS N.V.
Unaudited Condensed Consolidated Financial Information for the three-month period ended March 31, 2008

Non-current liabilities
Non-current provisions of 8,201 M € (prior year-end: 8,055 M €) comprise the non-current
portion of pension provisions with a decrease of -19 M € to 4,363 M € (prior year-end: 4,382 M €).
Moreover, other provisions are included in non-current provisions, which increase by +165 M € to
3,838 M €. A significant part of the increase is dedicated to the provision for the A350XWB due to
US dollar deterioration. Other provisions include among others aircraft financing activities with adecrease of -45 M € to 659 M € (thereof foreign exchange effects of -49 M €).
Long-term financing liabilities of 2,975 M € (prior year-end: 3,090 M €), excluding foreignexchange-rate effects of -36 M €, decrease by -79 M € in particular due to Airbus.
Other non-current liabilities comprise “Non-current other liabilities” and “Non-current deferredincome” and decrease in total by -84 M € to 14,796 M € (prior year-end: 14,880 M €). They mainly
include non-current customer advance payments received of 8,693 M € (prior year-end: 8,420 M€) and the non-current portion of European Government refundable advances amounting to 4,748
M € (prior year-end: 4,854 M €). The main part of non-current deferred income of 540 M € (prioryear-end: 753 M €) is linked to deferred revenues of Airbus and ATR according to Residual Value
Guarantee clauses. The remaining portfolio, which is included in non-current deferred income, isreversed over the guaranteed period.

Current liabilities
Current provisions decrease by -223 M € to 4,155 M € (prior year-end: 4,378 M €) and comprisethe current portions of pensions (286 M €) and other provisions (3,869 M €). The decline mainlyreflects a decrease in provisions for loss-at-completion contracts thanks to US dollar deterioration,reflecting consumption and USD exchange rate impacts.
Short-term financing liabilities of 1,303 M € (prior year-end: 1,724 M €), excluding foreignexchange rate effects of -56 M €, decrease by -365 M €.
Trade liabilities decrease by -677 M € to 6,721 M € (prior year-end: 7,398 M €), mainly comingfrom Airbus (-470 M €) and Astrium (-154 M €).
Other current liabilities include “Current other liabilities” and “Current deferred income”. They
increase by +909 M € to 21,298 M € (prior year-end: 20,389 M €). Other current liabilities mainlycomprise current customer advance payments of 16,791 M € (prior year-end: 16,214 M €).

8. Significant cash flow items
Cash provided by operating activities increases by +1,861 M € to 1,396 M €. Gross cash flowfrom operations (excluding working capital change) with 1,315 M € exceeds prior period’s level(first three months 2007: 1,146 M €) as well as changes in other operating assets and liabilities(working capital change) which amount to 81 M € (first three months 2007: -1,611 M €). The
improvement mainly results from lower inventories and higher advance payments received.
Cash used for investing activities amounts to -2,198 M € (first three months 2007: -287 M €).
This mainly comprises a net purchase of securities of -1,918 M € and purchases of intangible
assets and property, plant and equipment of -326 M €, namely in Airbus and Astrium, partly offset
by customer financing activities (57 M €), mainly of Airbus.

11

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EADS N.V.
Unaudited Condensed Consolidated Financial Information for the three-month period ended March 31, 2008

Cash used for financing activities improves by +55 M € to -305 M € (first three months 2007:-360 M €). The outflow mainly comprises the net repayment of financing liabilities.
9. Number of shares
The total number of shares outstanding is 805,855,052 and 801,577,420 as of March 31, 2008 and2007, respectively. EADS’ shares are exclusively ordinary shares with a par value of 1.00 €.
During the first three months of 2008, the number of treasury shares held by EADS decreased
from 9,804,998 as of December 31, 2007 to 8,173,621 as of March 31, 2008.
New shares amounting to 14,200 (in the first three months 2007: 284,210 shares) were issued asa result of the exercise of stock options in compliance with the implemented stock option plans.
10. Earnings per share
Basic earnings per share are calculated by dividing profit (loss) for the period attributable toequity holders of the parent (Net income (loss)) by the weighted average number of issued
ordinary shares during the period, excluding ordinary shares purchased by the Group and held astreasury shares:

Net income (loss) attributable to equity holders of theparentWeighted average number of ordinary shares outstanding
Basic earnings per share

January 1 toMarch 31, 2008

January 1 toMarch 31, 2007

285 M €

-10 M €

804,848,965

801,580,807

0.35 €-0.01 €For calculation of the diluted earnings per share, the weighted average number of ordinary
shares is adjusted to assume conversion of all potential ordinary shares. The Group’s only
category of dilutive potential ordinary shares is stock options. Since the average price of EADS
shares during the first three months of 2008 exceeded the exercise price of the stock options
under the 4th and 5th stock option plans (in the first three months of 2007: the 1st, 2nd, 4th and 5thstock option plans) initiated by the Group, the inclusion of the related potential ordinary shares
increases the weighted average number of shares. 481,076 shares (in the first three months of
2007: 2,924,113 shares) are considered dilutive according to IAS 33.

Net income (loss) attributable to equity holders of theparentWeighted average number of ordinary shares outstanding(diluted)
Diluted earnings per share

12

January 1 toMarch 31, 2008

January 1 toMarch 31, 2007

285 M €

-10 M €

805,330,041

804,504,920

0.35 €-0.01 €

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EADS N.V.
Unaudited Condensed Consolidated Financial Information for the three-month period ended March 31, 2008

11. Related party transactions
The Group has entered into various transactions with related companies in the first three monthsof 2008 and 2007 that have all been carried out in the normal course of business. As is theGroup’s policy, all related party transactions have to be carried out at arm’s length. Transactions
with related parties include the French State, Daimler, Lagardère and SEPI (Spanish State).
Except for the transactions with the French State and SEPI, such transactions are not consideredmaterial to the Group either individually or in the aggregate. The transactions with the French
State include mainly sales from the Eurocopter, Defence & Security and Astrium divisions. The
transactions with SEPI include mainly sales from MTAD and Defence & Security divisions.
In 2007, Lagardère and the French State through Sogéade had granted to the Group theirreceived dividend in relation with 2006 for an amount of 29 M € as an interest free loan.
12. Number of employees
The number of employees at March 31, 2008 is 116,375 as compared to 116,493 at December 31,
2007.
13. Subsequent events
On May 7, 2008, Airbus and Latécoère have terminated negotiations regarding the sale of the
Airbus sites in Méaulte and Saint Nazaire Ville since a viable solution could not be finalised within
the required time frame, in particular due to the current difficult financial environment. It should be
reminded that on March 27, 2008, Airbus has terminated negotiations with the OHB / MT
Aerospace consortium regarding the sale of the Airbus sites in Nordenham, Varel and the EADS
site in Augsburg since a viable industrial and financial solution was not achievable.
Airbus will continue searching for other solutions and, in parallel, will proceed with the carve-out of
the three German sites and the two French sites.
The negotiations concerning the partial sale of Filton and the sale for Laupheim continue and arestill subject to EADS’ Board of Directors decision.

On May 13, 2008, Airbus has completed the A380 programme review and is now informing
customers about changes to its delivery schedule. The review assessed the programme status at
the critical juncture of transitioning from low rate “individual” production to the full serial design andmanufacturing process.
As a result, Airbus plans now for 12 (instead of 13) deliveries in 2008 and 21 (instead of 25) in2009. Details about the new plan and the further ramp-up and delivery slots in 2010 and thefollowing years will be discussed with customers in the coming weeks.
The results of this review do not, at this stage, cover the financial impact., This will take somemore time to determine and is therefore not reflected in EADS consolidated financial information
for the three month period ended March 31, 2008.

On April 1, 2008, EADS, as well as the concerned EADS and Airbus executives, took notice of thedecision of the AMF college to initiate proceedings, respectively for breach of market information
duties and for breach of insider trading rules. For the first time, EADS and the persons involved will
be able to confront AMF’s interpretation with their explanations of the facts of the case.
Considering the fact that there is no decision on the substance so far, EADS insists that the
principle of presumption of innocence be upheld. EADS considers that the financial risk associated13

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EADS N.V.
Unaudited Condensed Consolidated Financial Information for the three-month period ended March 31, 2008

with the procedure against the Group and its possible consequences on EADS is not material.
However, it recognizes that these proceedings may have significant consequences on its image
and reputation.

On April 22, 2008, the Group announced the acquisition of PlantCML, California / USA, a leading
provider of emergency response solutions, from Golden Gate Capital, a San Francisco-based
private equity fund, for approximately 350 M USD. Based on the underlying profitability ofPlantCML, the acquisition is expected to be earnings per share accretive (on a pre fair value
amortization) in the first year. Leveraging the synergies between the companies is expected tocreate additional value in the following years. The acquisition was made through EADS North
America, and will be consolidated in Defence & Security division.

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