Airbus SE
Unaudited Condensed
IFRS Consolidated Financial Information
for the year ended 31 December 2021

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.

Impact of the COVID-19 pandemic ........................................................................................................................................93.

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

4.

Climate impacts .................................................................................................................................................................. 11

5.

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

6.

Related Party Transactions ................................................................................................................................................. 11

7.

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

8.

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

9.

Research and Development Expenses ............................................................................................................................... 13

10.

Other Income and Other Expenses ..................................................................................................................................... 13

11.

Share of Profit from Investments Accounted for under the Equity Method and Other Income from Investments .................. 13

12.

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

13.

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

14.

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

15.

Intangible Assets and Property, Plant and Equipment ......................................................................................................... 14

16.

Investments Accounted for under the Equity Method........................................................................................................... 14

17.

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

18.

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

19.

Provisions ........................................................................................................................................................................... 15

20.

Contract Assets and Contract Liabilities, Trade Receivables and Trade Liabilities............................................................... 16

21.

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

22.

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

23.

Total Equity ......................................................................................................................................................................... 1824.

Net Cash ............................................................................................................................................................................. 18

25.

Litigation and Claims ........................................................................................................................................................... 20

26.

Number of Employees......................................................................................................................................................... 22

27.

Events after the Reporting Date .......................................................................................................................................... 22

Airbus SE
Unaudited Condensed IFRS Consolidated Financial Information
for the year ended 31 December 2021

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 (Loss) before financial result and income taxes
Interest income
Interest expense
Other financial result
Total financial result
Income taxes
Profit (Loss) for the period

Note
8
8

9
10
10
11
11

12
13

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

14
14

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

2020
49,912(44,250)
5,662
(717)
(1,423)(2,858)132(1,458)
39
113
(510)
140
(411)
(349)
(620)
(39)
(1,169)

4,213
(39)

(1,133)
(36)

€
5.36
5.36

€
(1.45)(1.45)

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 2021

Unaudited Condensed
IFRS Consolidated Statement of Comprehensive Income
Note

2021
4,174

2020
(1,169)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

2,613
(368)
(115)
1
134

(1,537)
359
(133)
14
(96)

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

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

(204)
3,648
(916)
(61)
9
51
1,134
(35)

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

2,901
(54)

(25)
(10)

(In € million)

Profit (Loss) 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 2021

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

2021

2020

15
15

16,367
16,536
41
1,672
4,001
27
691
795
4,323
6,794
51,247

16,19916,674
2
1,578
3,855
48
3,483
483
4,023
5,350
51,69528,538
5,063
537
1,377
1,451
2,393
552
1,317
14,57255,8000
107,047

30,401
5,132
468
1,074
2,432
2,216
620
1,618
14,43958,4000
110,095

16
17
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

18
17
21
22
24
24

4

Airbus SE
Unaudited Condensed IFRS Consolidated Financial Information
for the year ended 31 December 2021

(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
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
(1)

Note

2021

2020

23

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

785
3,599
250
1,853
(42)
6,445
11
6,456

19
24
20
21
22

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

14,298 (1)14,082
19,212
5,657
436
451
32
54,168 (1)

19
24
20
20
21
22

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

6,245 (1)
3,013
8,722
24,675
1,769
3,160
1,311
576
49,471 (1)0
103,639
110,095

Previous year allocation between non-current and current provisions has been restated.

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 2021

Unaudited Condensed
IFRS Consolidated Statement of Cash Flows
Note

2021

2020

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

4,213
(39)

(1,133)(36)

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 (1)Change in other operating assets and liabilities
Inventories
Trade receivables
Contract assets and liabilities
Trade liabilities
Other assets and liabilities
Cash provided by (used for) operating activities

(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

(140)
411
82
(205)
39
79
2,831
95
9
(39)
1,138
(314)
(8,237)152351
848(5,523)(4,065)(5,420)(1,928)(1,759)

212

228

(25)

(481)

(577)

(565)

396
79

408
(8)

310
(3,049)1,863(2,719)

0
(337)
6,640
4,126

(In € million)

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 provided by (used for) investing activities

6

20
21, 225
24
24

Airbus SE
Unaudited Condensed IFRS Consolidated Financial Information
for the year ended 31 December 2021

(In € million)

Financing activities
Increase in financing liabilities
Repayment of financing liabilities
Cash distribution to Airbus SE shareholders
Payments for liability for puttable instruments
Changes in capital and non-controlling interests
Change in treasury shares
Cash provided by (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
(1)

Note

2021

2020

24
24

0
(2,295)
0
0
138
(22)
(2,179)392
133
14,43914,572

7,102
(445)
0
91
89
(4)
6,833
(414)
5,125
9,314
14,43923

24

In 2020, thereof € 331 million contributions for retirement and deferred compensation plans.

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

7

Airbus SE
Unaudited Condensed IFRS Consolidated Financial Information
for the year ended 31 December 2021

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

Balance at 1 January
2020
Loss 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 2020
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

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

784
0

3,555
0

2,241
(1,133)819
0(2,521)
0

1,179
0

(82)
0

5,975
(1,133)155,990(36) (1,169)

00(1,268)

(171)

2,783

(236)

0

1,108

26

1,134

0
1

0
44

(2,401)
0

(171)
0

2,783
0

(236)
0

0
0

(25)
45

(10)
0

(35)
45

0

0

42

0

0

0

0

42

0

42

0

0

0

0

0

0

0

0

0

0

0

0

368

0

0

0

0

368

6

374

0

0

0

0

0

0

40

40

0

40

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

3,712

6,834

456

(3,448)

1,170

(45)

9,466

20

9,486

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

8

Airbus SE
Unaudited Condensed IFRS Consolidated Financial Information
for the year ended 31 December 2021

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 7: 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 16 February 2022.

2.

Impact of the COVID-19 pandemic

In 2020, the COVID-19 pandemic resulted in significant disruption to the Company’s business operations and supply chain. For moredetails on the impact in 2020, please refer to the Company’s IFRS Consolidated Financial Statements as of 31 December 2020.
The Company’s business, results of operations and financial condition have been and may continue to be materially affected by the
COVID-19 pandemic, and the Company continues to face risks and uncertainties. In addition to its impact on the financial viability ofoperators, airlines and lessors and the reduction of commercial air traffic, new variants of the COVID-19 pandemic, lockdowns, travel
limitations and restrictions around the world have posed logistical challenges and may cause disruptions to the Company’s business, its
operations and supply chain as well as customers’ ability to take delivery of aircraft.
Airlines have reduced capacity, grounded portions of their fleets and sought to implement measures to reduce cash spending and secureliquidity. Some airlines have also sought arrangements with creditors, restructured or applied for bankruptcy or insolvency protection,
which may have further consequences for the Company and its order book as well as other consequences resulting from the related
proceedings.
In 2021, the commercial environment has shown signs of improvements, in particular an increase in air travel demand.
On 27 May 2021, the Company provided suppliers with an update of its production plans based on its expectation that the commercial
aircraft market may recover to pre-COVID levels between 2023 and 2025, led by the single-aisle segment. In anticipation of a continued
recovering market, the Company confirmed an average A320 Family production rate of 45 aircraft per month in the fourth quarter of 2021
and called on suppliers to prepare for the future by securing a firm rate of 64 by the second quarter of 2023. The A220 monthly production
rate is confirmed to rise to around 6 in early 2022. The A350 production rate is expected to increase to 6 by Autumn 2022 while A330
production is expected to remain at an average monthly production rate of two per month.
On 28 October 2021, the Company announced the A220 production rate, which was at 5 aircraft a month, is expected to increase toaround rate 6 per month in early 2022, with a monthly production rate of 14 envisaged by the middle of the decade. On the A320 Family
programme, the Company is working to secure the ramp up and is on trajectory to achieve a monthly rate of 65 aircraft by summer 2023.
The recent commercial successes of the A330 programme enable a monthly rate increase from around 2 to almost 3 aircraft at the endof 2022. The A350 programme is expected to increase from around 5 to around 6 aircraft a month in early 2023.
Year-to-date financials reflect deliveries as well as efforts on cost containment and competitiveness. Furthermore, the Company has
performed a comprehensive review of provisions and depreciations, taking into account the amended production rates and expected
future deliveries. Consequently, the Company recorded € 0.6 billion of release of COVID-related provisions including restructuring in 2021.
In 2020, the review performed led to charges being recorded for an amount of € 1.3 billion and a restructuring provision for an amount of€ 1.2 billion.
The Company is monitoring the evolution of the COVID-19 pandemic and will continue to assess further impacts going forward.
Management considers the Company has sufficient resources to continue operating for at least 12 months and that there are no material
uncertainties about the Company’s ability to continue as a going concern.
9

Airbus SE
Unaudited Condensed IFRS Consolidated Financial Information
for the year ended 31 December 2021

3.

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 the absolute figures.
The Company’s accounting policies and methods are unchanged compared to 31 December 2020. The implementation of other amended
standards has no material impact on the Unaudited Condensed Consolidated Financial Statements as of 31 December 2021.

Amendments to IFRS 16 Leases: Covid-19- Related Rent Concessions beyond 30 June 2021
In March 2021, the IASB issued COVID-19-related Rent Concessions beyond 30 June 2021 to extend by another year the practical relief
to lessees in accounting for rent concessions occurring as a direct consequence of COVID-19.
The Company has applied in advance of its effective date the practical expedient retrospectively to all rent concessions that meet theconditions of the practical expedient and has accounted for them in the same manner as for a resolution of a contingency that fixes
previously variable lease payments.
As such, the Company has not updated the discount rate used to re-measure the lease liability and used the re-measured consideration
with a corresponding adjustment to the right-to-use. The Company re-assessed that the application of this amendment, with the extensionof the relief until 30 June 2022, has still no material impact on the Consolidated Financial Statements as of 31 December 2021.

Amendments to IFRS 9, IAS 39 and IFRS 7 “Interest Rate Benchmark Reform – Phase 2”
Following the financial crisis, the reform and replacement of some benchmark interest rates such as LIBOR and other Interbank OfferedRates (“IBORs”) has become a priority for global regulators. There is still some uncertainty around the timing and precise nature of thesechanges.
The Company’s treasury is managing the transition plan, so that the existing contracts that refer to LIBORs shall be adjusted to ensure
contract continuity after cessation of relevant benchmarks and address term and credit differences between LIBORs and alternativereference rates. The changed reference rates will also impact systems, processes and risk and valuation models.
To manage the transition of the USD LIBOR-referenced derivatives contracts, the Company will adhere to the ISDA Fallback protocol that
ensures an automatic transition on the official cessation date scheduled on 30 June 2023 as stated by the UK FCA (Financial Conduct
Authority) on 5 March 2021. The official spread adjustment published by Bloomberg and fixed on 5 March 2021 (official announcement
date of the LIBOR cessation) will apply. On USD LIBOR-referenced loan contracts, the Company will apply a similar transition scheme tothe derivative contracts.
The Company is mainly exposed to USD LIBOR under Airbus Bank loan assets portfolio for an amount of € 301 million (for a notionalamount of US$ 524 million) and the interest rate swaps based on USD LIBOR used in the hedge relationship, for an amount of € 64 million(for a notional amount of US$ 1.5 billion).
The Phase 2 amendments have no impact on these Unaudited Condensed IFRS Consolidated Financial Statements as existing contracts
continue to refer to LIBORs as of 31 December 2021.

Agenda Decision published by the IFRS Interpretation Committee (“IFRIC”)
In April 2021, IFRIC 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.
IFRIC concluded that these costs should be expensed, unless the criteria for recognising a separate asset are met. The Company iscurrently undertaking the analysis required to quantify the potential impact and assessing whether a change in accounting policy would
be required or not.

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 2020.

10

Airbus SE
Unaudited Condensed IFRS Consolidated Financial Information
for the year ended 31 December 2021

4.

Climate impacts

Climate change may have a major impact on both the Company’s industrial operations and its upstream and downstream value chain,including aircraft direct operations and the wider air transport ecosystem along with a strong influence on regulations and stakeholders
expectations. Accordingly, climate-related risks can potentially affect the Company’s business and competitiveness, its customers andother actors in the aviation industry. For more details on specific impacts, see “– Note 15: Intangible assets and Property, Plant andEquipment”.
The Company is committed to contributing to meeting the Paris Agreement targets and in taking a leading role in the decarbonisation of
the aviation sector in cooperation with all stakeholders.
The Company continuously assesses potential impacts of identified environmental risks and opportunities. As of 31 December 2021, tothe best of the Company’s judgement, there is no impact on the Company’s assets and liabilities. The Company considered theassumptions related to the life cycle of its main programmes and the related impacts on long-lived assets impairments and concluded that
there was no need for impairment. Similarly, the Company did not identify any need for revision to the useful lives of the property, plantand equipment and intangible assets.
The Company shares the EU's ambition to reach a net-zero carbon aviation ecosystem in Europe by 2050, and will contribute to the EU’s
“2030 Climate Target Plan”. Further sustainability activities will continue to accelerate, especially with the objective to bring a zero emissioncommercial aircraft to market in 2035.

5.

Acquisitions and Disposals

Acquisitions
In 2020, Bombardier transferred its remaining shares in Airbus Canada Limited Partnership (“ACLP”) to Airbus and Investissement Québec(“IQ”). As per the agreement, Airbus acquired an additional 29.64% of the issued shares in ACLP. This agreement brought theshareholdings in ACLP for Airbus and IQ to 75% and 25%, respectively.
Airbus paid to Bombardier a consideration of US$ 591 million of which US$ 531 million was received at closing and US$ 60 million to be
paid over the 2020-22 period under certain conditions. The agreement also provides for the cancellation of Bombardier warrants owned
by Airbus, as well as releasing Bombardier of its future funding capital requirement to ACLP, previously performed through the non-voting
participation Class B common units in ACLP.
The call rights of Airbus in respect of all IQ’s interests in ACLP at fair market value have been extended by an additional three years to
January 2026.
The effect of this equity transaction on the equity attributable to the owners of ACLP amounted to € -53 million.
As part of this transaction, Airbus, via its wholly owned subsidiary Stelia Aerospace, also acquired the A220 and A330 work package
production capabilities from Bombardier in Saint Laurent, Québec. Under this non-material transaction, the fair value of the net assets
acquired amounted to US$ -4 million.
Disposals
On 15 December 2021, the Company divested to a 50% joint venture one of its sites in France. The assets relative to this disposal werepreviously classified as held for sale for an amount of € 67 million. The Company received a consideration of € 310 million and recogniseda gain of € 122 million, reported in Airbus Defence and Space other income.

6.

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 2021

7.

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 aircraft of more than 100 seats, aircraft conversion
and related services; development, manufacturing, marketing and sale of regional turboprop aircraft and aircraft components. 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. In
addition, the main joint ventures design, develop, deliver, and support missile systems as well as space launcher systems. Unmanned
Aerial Systems design, development, delivery and service support.

On 21 April 2021, the Company presented its plans to create integrated aerostructures assembly companies in both France and Germany,
and a third company as a new global player in the detail parts business, anchored in Germany.
The plans have no impact on the segment structure described above (see “– Note 27: Events after the Reporting Date”).
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 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

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

Airbus34,250(689)
33,561

AirbusHelicopters
6,251
(271)
5,980

AirbusDefenceand Space
10,446(75)
10,371Eliminations
0
0
0

Consolidated
Airbus50,947(1,035)49,912

31,331
37
2,193

3,144
273
2,563

2,921
4,084
3,366

0
0
0

37,396
4,394
8,122(1,330)(2,436)

455
(273)

408
(225)

(43)
76

(510)
(2,858)
(271)
(349)
(39)
(1,169)Business segment information for the year ended 31 December 2020 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 (Loss) before financial result and income
taxes (EBIT)
thereof research and development expenses
Interest result
Other financial result
Income taxes
Loss for the period

12Airbus SE
Unaudited Condensed IFRS Consolidated Financial Information
for the year ended 31 December 2021

8.

Revenue and Gross Margin

Revenue increased by € +2,237 million to € 52,149 million (2020: € 49,912 million). The increase is mainly driven by Airbus(€ +2,178 million) reflecting higher aircraft deliveries partly offset by an unfavourable foreign exchange impact.
Revenue by geographical areas based on the location of the customer is as follows:

2021
15,97019,490
10,546
2,256
980
2,907
52,149(In € million)

Asia-Pacific
EuropeNorth America
Middle East
Latin America
Other countries
Total

2020
13,087
20,325
8,688
3,123
983
3,706
49,912

The gross margin increased by € +3,969 million to € 9,631 million compared to € 5,662 million in 2020. It mainly reflects higher aircraft
deliveries at Airbus as well as a release of COVID-related provisions for an amount of € 0.4 billion. In addition, in 2020, Airbus was
impacted by lower cost efficiency and recorded charges of € 1.2 billion triggered by the COVID-19 pandemic. The gross margin rateincreased from 11.3% to 18.5%.
The Company delivered the last A380 aircraft in 2021. As a consequence and in addition to the net charge recorded in 2018, the Company
recorded a net charge of € 385 million in EBIT in 2020 as part of its continuous assessment of asset recoverability and review of onerous
contract provision assumptions. In 2021, a positive EBIT impact of € 274 million was recorded, mainly reflecting the release of provision
recorded in 2018 on the former A380 Lagardère facility that will be used for the modernised A320 FAL.
As of 31 December 2021, the Company has delivered a total of 105 A400M aircraft including 8 aircraft in 2021.
The COVID-19 pandemic is weighing on the performance of development, production, flight testing, aircraft delivery and retrofit activitiesof the programme. The Company has continued with development activities toward achieving the revised capability roadmap. Retrofit
activities are progressing in close alignment with the customer.
In 2020, an update of the contract estimate at completion was performed and a charge of € 63 million recorded reflecting mainly
the variation of price escalation indexes. In 2021, an update of the contract estimate at completion has been performed and an additionalcharge of € 212 million has been recorded. This reflects mainly the updated estimates on the delivery pattern of the launch contract andthe associated impact on unabsorbed costs.
Risks remain on the development of technical capabilities and associated costs, on aircraft operational reliability in particular with regard
to power plant, on cost reductions and on 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. A revised Estimate atCompletion (EAC) for a customer contract was performed as of 31 December 2020, and the Company continues to engage with its
customer to agree a way forward. The outcome of these negotiations is presently unclear but could result in further significant financial
impacts. The year-end 2020 assessment remains unchanged as of 31 December 2021.

9.

Research and Development Expenses

Research and development expenses decreased by € -112 million to € 2,746 million compared to € 2,858 million in 2020.

10.

Other Income and Other Expenses

Other income increased by € +462 million to € 594 million compared to € 132 million in 2020. In 2021, it includes the gain of € 122 million
for the divestment of one of its sites to a 50% joint venture (see “– Note 5: Acquisitions and Disposals”).
Other expenses decreased by € -1,257 million to € -201 million compared to € -1,458 million in 2020, mainly due to the restructuringprovision recorded in 2020 for an amount of € 1.2 billion in response to the COVID-19 pandemic.

11. 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 decreased by € -36 million to € 116
million compared to € 152 million in 2020. It includes dividends received from other investments classified at fair value through OCI for an
amount of € 108 million (2020: € 137 million).
13

Airbus SE
Unaudited Condensed IFRS Consolidated Financial Information
for the year ended 31 December 2021

12.

Total Financial Result

Total financial result improved by € +305 million to € -315 million compared to € -620 million in 2020. This is driven by the revaluation ofcertain equity investments (see “– Note 17: Other Investments and Other Long-Term Financial Assets”), compensated by a negative
impact from revaluation of financial instruments. In addition, in 2020 it included the re-measurement on the A350 Repayable Launch
Investment (“RLI”) (see “– Note 21: Other Financial Assets and Other Financial Liabilities").

13.

Income Taxes

The income tax expense amounts to € -853 million (2020: € -39 million) and corresponds to an effective income tax rate of 17.0%. This
includes positive impacts from tax risk updates, the tax-free revaluation of certain equity investments under IFRS 9 and a net release ofdeferred tax asset impairments mainly due to an updated business outlook. Management will continue to assess its tax contingencies
going forward, whose outcome could result in further financial impacts.

14.

Earnings per ShareProfit (Loss) for the period attributable to equity owners of the parent (Net income)Weighted average number of ordinary shares
Basic earnings per share2021€ 4,213 million
785,326,074€ 5.362020€ (1,133) million
783,178,191€ (1.45)

Diluted earnings per share – The Company’s dilutive potential ordinary shares are share-settled Performance Units relating to LongTerm Incentive Plans (“LTIP”).
During 2021, the average price of the Company’s shares exceeded the exercise price of the share-settled Performance Units and therefore
575,926 shares were considered in the calculation of diluted earnings per share.
As there was a loss in 2020, the effect of potentially dilutive ordinary shares was anti-dilutive.

Profit (Loss) for the period attributable to equity owners of the parent (Net income),
adjusted for diluted calculation
Weighted average number of ordinary shares (diluted) (1)Diluted earnings per share
(1)

15.

2021

2020

€ 4,213 million
785,902,000€ 5.36€ (1,133) million
783,178,191€ (1.45)

In 2021, dilution assumes conversion of all potential ordinary shares.

Intangible Assets and Property, Plant and Equipment

Intangible assets increased by € +168 million to € 16,367 million (2020: € 16,199 million). Intangible assets mainly relate to goodwill of€ 13,028 million (2020: € 12,999 million). Based on management’s best estimate, there is no impact on the useful life of capitalised
development costs resulting from the Company’s journey towards sustainable aerospace.
Property, plant and equipment decreased by € -138 million to € 16,536 million (2020: € 16,674 million). Property, plant and equipment
include right-of-use assets for an amount of € 1,698 million as of 31 December 2021 (2020: € 1,804 million). Based on management’s
best estimate, there is no impact on the useful life of Property, plant and equipment resulting from the Company’s journey towards
sustainable aerospace.

16.

Investments Accounted for under the Equity Method

Investments accounted for under the equity method increased by € +94 million to € 1,672 million (2020: € 1,578 million). They mainly
include the equity investments in ArianeGroup, MBDA and ATR GIE.

14

Airbus SE
Unaudited Condensed IFRS Consolidated Financial Information
for the year ended 31 December 2021

17.

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

2020
2,245
1,610
3,855
468
4,323

Other investments mainly comprise the Company’s participations and include the remaining investment in Dassault Aviation (9.90%,
2020: 9.90%) amounting to € 786 million at 31 December 2021 (2020: € 742 million).
In March 2020, OneWeb Communications filed under Chapter 11 of the US Bankruptcy Code. Consequently, the related financial
assets were fully impaired, leading to a decrease in the fair value of the equity investment by € -137 million recorded through OCI and a
depreciation of a loan by € -136 million recorded through financial result.
In November 2020, the US Bankruptcy Court entered an order issuing a final decree to allow a consortium of Her Majesty’s Government
HMG and Bharti Global Limited to acquire the newly re-organised OneWeb.
As at 31 December 2021, the Company holds a minor investment in OneWeb which is accounted for at fair value.
Other long-term financial assets and the current portion of other long-term financial assets include other loans in the amount of€ 1,909 million as of 31 December 2021 (2020: € 1,841 million), and the sales financing activities in the form of finance lease receivables
and loans from aircraft financing.

18.

Inventories

Inventories of € 28,538 million (2020: € 30,401 million) decreased by € -1,863 million. This is driven by Airbus (€ -1,944 million), andmainly reflects the delivery of the last A380 aircraft and the reduction in the widebodies inventory.

19.

Provisions
31 December
2021
7,072
8,209
15,281
10,771
4,510(In € million)

Provisions for pensions
Other provisions
Total
thereof non-current portion
thereof current portion
(1)

2020
9,980
10,563
20,543
14,298 (1)6,245 (1)Previous year allocation between non-current and current provisions has been restated.

As of 31 December 2021, provisions for pensions decreased mainly due to the change in financial assumptions of € 1,453 million
reflecting the further strengthening of interest rates and increased inflation assumptions in Germany, France, Canada and the UK and theincrease in plan assets of € 1,341 million.
Other provisions decreased mainly due to the restructuring provision recorded in 2020 in response to the COVID-19 pandemic and adecrease in provisions for onerous contracts due to the delivery of the last A380 aircraft, the utilisation and net presentation of the A400M
programme losses against inventories and the reduction in the A220 programme.
In September 2020, a restructuring provision was recognised in response to the COVID-19 pandemic under other provisions for an amountof € 1.2 billion including mainly the cost of voluntary and compulsory measures taking into account management’s best estimate of the
impact of the working time adaptation and government support measures.
As of 31 December 2021 and 31 December 2020, the restructuring provision in response to the COVID-19 pandemic amounted to € 0.1
billion and € 1.0 billion respectively. It reflects the utilisation of the restructuring provision for an amount of € 0.6 billion, the release of €0.2 billion and € 0.2 billion reclassified to liabilities to reflect the progress of the plan.

15

Airbus SE
Unaudited Condensed IFRS Consolidated Financial Information
for the year ended 31 December 2021

20.

Contract Assets and Contract Liabilities, Trade Receivables and Trade
Liabilities

Significant changes in contract assets and contract liabilities during the period are as follows:2021(In € million)

Revenue recognised that was included in the contract liability balance at
1 January
Increases due to cash received, excluding amounts recognised asrevenue (1)Transfers from contract assets recognised at 1 January
Increase as a result of changes in the measure of progress
(1)

2020
Contract
Contract
assetsliabilities

Contract
assetsContract
liabilities-(19,311)-(20,327)(5,765)
6,045

17,792-(4,353)
4,188

20,915-

Including final payments received from customers and others parties in anticipation.

As of 31 December 2021, trade receivables amounting to € 210 million (2020: € 189 million) will mature after more than one year.
The respective movement in the allowance for doubtful accounts in respect of trade receivables and contract assets during the period was
as follows:
2021
(306)
47
(104)
(363)

(In € million)

Allowance balance at 1 January
Utilisations / disposals and business combinations
Additions
Allowance balance at 31 December

2020
(397)
162
(71)
(306)

Trade liabilities of € 9,693 million (2020: € 8,722 million) increased by € +971 million, mainly in Airbus.
As of 31 December 2021, trade liabilities amounting to € 89 million (2020: € 67 million) will mature after more than one year.

21.

Other Financial Assets and Other Financial Liabilities

Other Financial Assets
31 December
2021
664
27
691
803
341
307
1,451
2,142

(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

2020
3,451
32
3,483
1,158
973
301
2,432
5,915

Other Financial Liabilities
31 December
2021
2,640
3,730
192
6,562
1,923
131
180
298
2,532
9,094

(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

16

2020
1,834
3,712
111
5,657
983
200
130
456
1,769
7,426

Airbus SE
Unaudited Condensed IFRS Consolidated Financial Information
for the year ended 31 December 2021

The total net fair value of derivative financial instruments decreased by € -5,165 million to € -3,558 million (2020: € 1,607 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 2021, the total hedge portfolio with maturities up to 2028 amounts to US$ 88.3 billion (2020: US$ 81.0 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 2028 amounts to 1.25 US$/€ (2020: 1.26 US$/€).
In 2021, the European Governments’ refundable advances decreased by € -51 million to € 3,861 million (2020: € 3,912 million).
In 2020, the Company signed amendments to the French and Spanish A350 RLI contracts, leading to a re-measurement of the A350 RLI
for an additional net amount of € 236 million in the third quarter, using an equivalent estimated market rate at the date of the amendments.
The allocation of European Governments’ refundable advances between non-current and current presented in the Unaudited Condensed
IFRS Consolidated Financial Statements ended 31 December 2021 is based on the applicable contractual repayment dates.
As at 31 December 2020, the fair value of the written put options on non-controlling interests (“NCI puts”) relating to ACLP was nil, mainlyreflecting the latest projections on funding needs, slower ramp-up phasing and market projections.
The Company has re-measured the written put options as at 31 December 2021 and the fair value amounts to € 16 million. The fair valueof these NCI puts are derived from a discounted cash flow analysis using the latest operating plan and a projection over the lifetime of theA220 programme. In addition a post-tax WACC of 9.58% is used to discount the forecasted cash flows, taking into account the specificitiesof the programme (2020: 9.49%).

22.

Other Assets and Other Liabilities

Other Assets
31 December
2021
301
116
378
795
1,183
499
392
319
2,393
3,188

(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

2020
282
76
125
483
1,025
557
191
443
2,216
2,699

Non-current other assets include € 305 million of payments to be made to Airbus by suppliers after aircraft delivery and are recorded asa 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.

Other Liabilities
31 December
2021
583
583
771
2,761
3,532
4,115

(In € million)

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

17

2020
436
436
749
2,411
3,160
3,596

Airbus SE
Unaudited Condensed IFRS Consolidated Financial Information
for the year ended 31 December 2021

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:
2021
784,149,270
1,934,420
0786,083,690(454,735)
785,628,955(In number of shares)

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

2020
783,173,115
976,1550784,149,270(432,875)
783,716,395

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 € 9,466 million (2020: € 6,445
million) representing an increase of € +3,021 million. This is due to a net income for the period of € +4,213 million and a decrease in othercomprehensive income, principally related to the mark to market revaluation of the hedge portfolio of € -3,710 million partly offset by achange in actuarial gains and losses of € +2,363 million.
The non-controlling interests (“NCI”) from non-wholly owned subsidiaries increased to € 20 million as of 31 December 2021
(2020: € 11 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.
31 December
2021
14,572
1,317
6,794
22,683(1,946)(13,094)
7,643(In € million)

Cash and cash equivalents
Current securities
Non-current securities
Gross cash position
Short-term financing liabilities
Long-term financing liabilities
Total

2020
14,4391,618
5,350
21,407(3,013)(14,082)
4,312

The net cash position on 31 December 2021 amounted to € 7,643 million (2020: € 4,312 million), with a gross cash position of€ 22,683 million (2020: € 21,407 million).

Cash and Cash Equivalents
Cash and cash equivalents are composed of the following elements:
31 December
2021
1,964
12,075533
014,572(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)
OthersTotal cash and cash equivalents

2020
4,173
9,654
512
100
14,439Only 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.

18

Airbus SE
Unaudited Condensed IFRS Consolidated Financial Information
for the year ended 31 December 2021

Securities
The Company’s securities portfolio amounts to € 8,111 million and € 6,968 million as of 31 December 2021 and 2020, respectively. The
security portfolio contains a non-current portion of € 6,794 million (2020: € 5,350 million), and a current portion of € 1,317 million (2020: €1,618 million).
Cash and cash equivalents have increased by € +0.2 billion from € 14.4 billion at 31 December 2020 to € 14.6 billion at 31 December
2021 and they include payments received in advance from certain customers.
The main variations are as follows:
Cash provided by operating activities amounted to € +4.6 billion in 2021, mainly driven by a profit translated into cash partly offset byprovision consumption related to the restructuring plan, a positive impact from working capital which mainly reflects the delivery of the last
A380 aircraft and the reduction in the widebodies inventory largely offset by a negative impact from contract assets and contract liabilities.
In addition, it includes the net payment made to suppliers in anticipation and the negative impact due to the expiry of certain agreements
reached with suppliers relating to payment terms.
Cash used for investing activities amounted to € -2.7 billion, mainly reflecting capital expenditures and securities. The acquisition of realestate assets in the UK has negatively impacted cash used for investing activities, and also negatively impacted cash used for financing
activities relating to the repayment of the existing lease liabilities.
Cash used for financing activities amounted to € -2.2 billion and reflects the pre-payment of a US$1 billion bond issued on 9 April 2013 andthe repayment of the exchangeable bonds convertible into Dassault Aviation shares for an amount of € 1.0 billion.
Similar to previous years, the Company has supported its suppliers concerning supply chain financing arrangements.

Financing Liabilities
31 December
2021
11,061467
75
1,491
13,094
0
26
96
245
1,579
1,946
15,040(In € million)

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)

2020
12,032418
94
1,538
14,082
1,075
111
94
260
1,473
3,013
17,095

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

Long-term financing liabilities, mainly comprising of bonds and lease liabilities, decreased by € -988 million to € 13,094 million (2020:€ 14,082 million), mainly due to pre-payment of a US$1 billion bond issued on 9 April 2013 in the US institutional market with an original
maturity of ten years.
Short-term financing liabilities decreased by € -1,067 million to € 1,946 million (2020: € 3,013 million), mainly due to the repayment of
the exchangeable bonds to be convertible into Dassault Aviation shares issued on 14 June 2016 for an amount of € 1.0 billion.
The Company can issue commercial papers under its € 11 billion Negotiable European Commercial Paper (“NEuCP”) programme, its€4 billion Euro Commercial Paper (“ECP”) programme and its $ 3 billion US Commercial Paper programme.
As of 31 December 2021, there were no outstanding amounts under any of its commercial paper programmes.

19

Airbus SE
Unaudited Condensed IFRS Consolidated Financial Information
for the year ended 31 December 2021

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, the Company is not aware of any material
governmental, legal or arbitration proceedings (including any such proceedings which are pending or threatened) which may have or have
had in the recent past significant effects on Airbus SE’s or the Company’s Financial Position or profitability.
If the Company concludes that the disclosures relative to contingent liabilities can be expected to prejudice seriously its position in a
dispute with other parties, the Company limits its disclosures to the nature of the dispute.

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 for approved
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 result in the suspension of prosecution for a duration of three years whereupon the prosecutions will be extinguished if
the Company complies with their terms throughout the period.
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.
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.
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.

20

Airbus SE
Unaudited Condensed IFRS Consolidated Financial Information
for the year ended 31 December 2021

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 asserts violations of US securities laws. The complaint alleges that defendants made false and misleading statements oromissions 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 lawsuit seeks unquantified damages.
In addition, the Company received notification in August 2021 of two separate claims alleging similar facts as the US class action. Twoclaims 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. A procedural hearing is scheduled for the second quarter of 2022.
Both 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 is scheduled to take place in the fourth quarter of 2022.
The criminal trial in the Paris Criminal Court and any judgment or decision 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. The claim seeks (a) liquidated damages for aircraft grounded by
the Qatar Civil Aviation Authority, (b) an order that Airbus must deliver a full root cause analysis for surface degradation issues, and (c) adeclaration by the court that Airbus may not deliver any further A350 aircraft to Qatar Airways until alleged “design defects” are cured. The
Company rejects Qatar Airways' mischaracterisation of the non-structural surface degradation and the attendant grounding of the aircraft,which underpin the claim. Accordingly, the Company will defend itself vigorously in the proceedings. The consequences of such litigationand the outcome of the proceedings cannot be fully assessed at this stage, but any judgment or decision unfavourable to the Company
could have a material adverse impact on the Financial Statements, business and operations of the Company as well as its reputation.

21

Airbus SE
Unaudited Condensed IFRS Consolidated Financial Information
for the year ended 31 December 2021

Other Investigations
The Company is cooperating fully with the authorities in a judicial investigation in France related to Kazakhstan. In this spirit, the Company
was interviewed by the investigating magistrates and has been granted the status of “assisted witness” in the investigation.
The Company is also cooperating fully with the authorities in a judicial investigation in France related to Libya. In this spirit, the Company
has responded voluntarily to requests for information.
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
Airbus73,56078,48731 December 2021
31 December 202027.

AirbusHelicopters
20,12620,026

Airbus Defence
and Space
32,80932,836

Consolidated
Airbus
126,495
131,349

Events after the Reporting Date

Airbus Atlantic, a wholly-owned Airbus subsidiary, was officially established on 1 January 2022. 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, the Company has now reached a preliminary understanding concerning the establishment of a new aerostructures assemblycompany in Germany, as well as the future of the Detail Parts and sub-assembly activities at Premium AEROTEC. Some of theaerostructures assembly of aircraft fuselages, currently spread across the company and subsidiaries, could be merged and fully integrated
into the Company as a core activity on 1 July 2022.

22