# EDGAR Filing Document

**Accession Number:** 0001717393
**File Stem:** 0001104659-26-059837
**Filing Date:** 2026-5
**Character Count:** 85862
**Document Hash:** 3c576d1c327c1fef1eb2fcd8053bcfa8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-26-059837.hdr.sgml**: 20260513

**ACCESSION NUMBER**: 0001104659-26-059837

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260513

**FILED AS OF DATE**: 20260513

**DATE AS OF CHANGE**: 20260513

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CORPORACION AMERICA AIRPORTS S.A.
- **CENTRAL INDEX KEY:** 0001717393
- **STANDARD INDUSTRIAL CLASSIFICATION:** AIRPORTS, FLYING FIELDS & AIRPORT TERMINAL SERVICES [4581]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 000000000
- **STATE OF INCORPORATION:** N4
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38354
- **FILM NUMBER:** 26971066

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 128 BOULEVARD DE LA PETRUSSE
- **CITY:** LUXEMBOURG
- **PROVINCE COUNTRY:** N4
- **ZIP:** 2330
- **BUSINESS PHONE:** 352-26258274

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 128 BOULEVARD DE LA PETRUSSE
- **CITY:** LUXEMBOURG
- **PROVINCE COUNTRY:** N4
- **ZIP:** 2330

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20546**

**FORM 6-K**

**REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16**

**UNDER THE SECURITIES EXCHANGE ACT OF 1934**

For the month of May, 2026

Commission File Number: 333-221916

**Corporación América Airports S.A.**

(Name of Registrant)

**128, Boulevard de la Pétrusse<br> L-2330, Luxembourg**

**Grand Duchy of Luxembourg<br> Tel: +35226258274<br> Fax: +35226259776**

(Address of Principal Executive Office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ⌧ Form 40-F ◻

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ◻

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ◻

UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS FOR THE THREE-MONTH PERIOD ENDED MARCH 31, 2026 AND 2025

This report of foreign private issuer on Form 6-K (this "Form 6-K") is being filed by Corporación América Airports S.A. ("CAAP" or the "Company") with the Securities and Exchange Commission. The Company is filing this report on Form 6-K for the purpose of filing a copy of the Company's unaudited condensed consolidated interim financial statements for the three-month period ended March 31, 2026 and 2025 (the "Consolidated Financial Statements") as Exhibit 99.1. The Consolidated Financial Statements are presented in U.S. Dollars and prepared in accordance with IAS 34, "Interim Financial Reporting". These Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements for the year ended` December 31, 2025, which have been prepared in accordance with IFRS Accounting Standards ("IFRS") as issued by the International Accounting Standards Board ("IASB") and interpretations ("IFRIC") issued by the IFRS Interpretations Committee applicable to companies reporting under IFRS.

**Exhibits**

---

| | |
|:---|:---|
| **<u>Exhibit No.</u>** | **<u>Description</u>** |
| [99.1](tm2614007d1_ex99-1.htm) | [CAAP Unaudited Condensed Consolidated Interim Financial Statements for the three-month period ended March 31, 2026 and 2025](tm2614007d1_ex99-1.htm) |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

---

| | |
|:---|:---|
| **Corporación America Airports S.A.** | **Corporación America Airports S.A.** |
| By: | /s/ Andres Zenarruza |
| Name: | Andres Zenarruza |
| Title: | Head of Legal and Compliance |
| By: | /s/ Jorge Arruda |
| Name: | Jorge Arruda |
| Title: | Chief Financial Officer |

---

Date: May 13, 2026

## Exhibit 99.1

**Exhibit 99.1**

*Corporación América Airports S.A. Unaudited Condensed Consolidated Interim Financial Statements for the three-month period ended March 31, 2026 and 2025 (amounts in thousands of U.S. dollars except share data or as otherwise indicated).*

**Corporación América Airports S.A.**

**CONDENSED CONSOLIDATED**

**INTERIM FINANCIAL STATEMENTS**

**For the three-month period ended March 31, 2026 and 2025**

R.C.S. Luxembourg B 174.140

128, Boulevard de la Pétrusse

L – 2330 Luxembourg

*Corporación América Airports S.A. Unaudited Condensed Consolidated Interim Financial Statements for the three-month period ended March 31, 2026 and 2025 (amounts in thousands of U.S. dollars except share data or as otherwise indicated).*

**CONDENSED CONSOLIDATED INTERIM STATEMENT OF INCOME**

---

| | | | |
|:---|:---|:---|:---|
|  | | **For the three-month period ended March 31,** | **For the three-month period ended March 31,** |
|  | <br>**Notes** | **2026** | **2025** |
| Revenue | **4** | 537624 | 447818 |
| Cost of services | **5** | (339070) | (291334) |
| **Gross profit** |  | **198554** | **156484** |
| Selling, general and administrative expenses | **6** | (64782) | (54333) |
| Other operating income | **7** | 7742 | 6951 |
| Other operating expenses |  | (2048) | (5054) |
| **Operating income** |  | **139466** | **104048** |
| Share of loss in associates |  | (708) | (495) |
| **Income before financial results and income tax** |  | **138758** | **103553** |
| Financial income | **8** | 16584 | 10873 |
| Financial loss | **8** | (22965) | (42254) |
| Inflation adjustment | **8** | (4074) | (3544) |
| **Income before income tax** |  | **128303** | **68628** |
| Income tax | **9** | (47863) | (32382) |
| **Income for the period** |  | **80440** | **36246** |
| **Attributable to:** |  |  |  |
| Owners of the parent |  | 77054 | 40772 |
| Non-controlling interests |  | 3386 | (4526) |
|  |  | **80440** | **36246** |
| **Earnings per share for profit attributable to the ordinary equity holders of the Group:** |  |  |  |
| Basic earnings per share |  | 0.47 | 0.25 |
| Diluted earnings per share |  | 0.47 | 0.25 |

---

**CONDENSED CONSOLIDATED INTERIM STATEMENT OF COMPREHENSIVE INCOME**

---

| | | |
|:---|:---|:---|
|  | **For the three-month period ended March 31,** | **For the three-month period ended March 31,** |
|  | **2026** | **2025** |
| **Income for the period** | **80440** | **36246** |
| **Items that will not be reclassified to loss or profit:** |  |  |
| Remeasurements of defined benefit obligations | 57 | 29 |
| **Items that may be reclassified to profit or loss:** |  |  |
| Changes in the fair value of the instruments used to hedge cash flows | 1125 | 639 |
| Income tax impact of the instruments used to hedge cash flows | (269) | (153) |
| Share of other comprehensive (loss)/income from associates | (4) | 32 |
| Currency translation adjustment | 149190 | 24271 |
| **Other comprehensive income for the period, net of income tax** | **150099** | **24818** |
| **Total comprehensive income for the period** | **230539** | **61064** |
| **Attributable to:** |  |  |
| Owners of the parent | 216878 | 68220 |
| Non-controlling interests | 13661 | (7156) |
|  | **230539** | **61064** |

---

The accompanying notes are an integral part of these Condensed Consolidated Interim Financial Statements. These Condensed Consolidated Interim Financial Statements should be read in conjunction with our audited Consolidated Financial Statements and notes for the year ended December 31, 2025.

*Corporación América Airports S.A. Unaudited Condensed Consolidated Interim Financial Statements for the three-month period ended March 31, 2026 and 2025 (amounts in thousands of U.S. dollars except share data or as otherwise indicated).*

**CONDENSED cONSOLIDATED INTERIM STATEMENT OF FINANCIAL POSITION**

---

| | | | |
|:---|:---|:---|:---|
|  | **Notes** | **At March 31, 2026** | **At December 31, 2025** |
| **ASSETS** |  |  |  |
| **Non-current assets** |  |  |  |
| &nbsp;&nbsp;&nbsp;Intangible assets, net | **10** | 3408858 | 3137980 |
| &nbsp;&nbsp;&nbsp;Property, plant and equipment, net |  | 82074 | 86116 |
| &nbsp;&nbsp;&nbsp;Right-of-use asset |  | 8146 | 8933 |
| &nbsp;&nbsp;&nbsp;Investments in associates |  | 42217 | 43344 |
| &nbsp;&nbsp;&nbsp;Other financial assets at fair value through profit or loss |  | 12155 | 5413 |
| &nbsp;&nbsp;&nbsp;Other financial assets at amortized cost |  | 105022 | 108896 |
| &nbsp;&nbsp;&nbsp;Deferred tax assets |  | 15484 | 12638 |
| &nbsp;&nbsp;&nbsp;Inventories |  | 306 | 294 |
| &nbsp;&nbsp;&nbsp;Other receivables |  | 65533 | 60010 |
| &nbsp;&nbsp;&nbsp;Trade receivables |  | 2 | 11 |
|  |  | **3739797** | **3463635** |
| **Current assets** |  |  |  |
| &nbsp;&nbsp;&nbsp;Inventories |  | 17425 | 14735 |
| &nbsp;&nbsp;&nbsp;Other financial assets at fair value through profit or loss |  | 5568 | 2451 |
| &nbsp;&nbsp;&nbsp;Other financial assets at amortized cost |  | 100587 | 119633 |
| &nbsp;&nbsp;&nbsp;Other receivables |  | 69528 | 66594 |
| &nbsp;&nbsp;&nbsp;Current tax assets |  | 3149 | 10989 |
| &nbsp;&nbsp;&nbsp;Trade receivables |  | 186459 | 177744 |
| &nbsp;&nbsp;&nbsp;Cash and cash equivalents | **11** | 666227 | 592759 |
|  |  | **1048943** | **984905** |
| &nbsp;&nbsp;&nbsp;Assets classified as held for sale |  | 137 | 137 |
|  |  | **1049080** | **985042** |
| **Total assets** |  | **4788877** | **4448677** |
| **EQUITY** | **14** |  |  |
| &nbsp;&nbsp;&nbsp;Share capital |  | 165219 | 165219 |
| &nbsp;&nbsp;&nbsp;Share premium |  | 221434 | 221434 |
| &nbsp;&nbsp;&nbsp;Treasury shares |  | (3918) | (3918) |
| &nbsp;&nbsp;&nbsp;Free distributable reserve |  | 378910 | 378910 |
| &nbsp;&nbsp;&nbsp;Non-distributable reserve |  | 1358028 | 1358028 |
| &nbsp;&nbsp;&nbsp;Currency translation adjustment |  | (36275) | (175542) |
| &nbsp;&nbsp;&nbsp;Legal reserves |  | 10017 | 10017 |
| &nbsp;&nbsp;&nbsp;Other reserves |  | (1330244) | (1332210) |
| &nbsp;&nbsp;&nbsp;Retained earnings |  | 1041695 | 964641 |
| **Total attributable to owners of the parent** |  | **1804866** | **1586579** |
| &nbsp;&nbsp;&nbsp;Non-controlling interests |  | 76635 | 74169 |
| **Total equity** |  | **1881501** | **1660748** |
| **LIABILITIES** |  |  |  |
| **Non-current liabilities** |  |  |  |
| &nbsp;&nbsp;&nbsp;Borrowings | **12** | 936896 | 955856 |
| &nbsp;&nbsp;&nbsp;Derivative financial instruments liabilities |  | 350 | 1223 |
| &nbsp;&nbsp;&nbsp;Deferred tax liabilities |  | 461598 | 400582 |
| &nbsp;&nbsp;&nbsp;Other liabilities | **13** | 752389 | 693493 |
| &nbsp;&nbsp;&nbsp;Lease liabilities |  | 5106 | 5406 |
| &nbsp;&nbsp;&nbsp;Non-current tax liabilities |  | 1636 | 1636 |
| &nbsp;&nbsp;&nbsp;Trade payables |  | 1166 | 1219 |
|  |  | **2159141** | **2059415** |
| **Current liabilities** |  |  |  |
| &nbsp;&nbsp;&nbsp;Borrowings | **12** | 148452 | 139362 |
| &nbsp;&nbsp;&nbsp;Other liabilities | **13** | 447784 | 428947 |
| &nbsp;&nbsp;&nbsp;Lease liabilities |  | 3415 | 4326 |
| &nbsp;&nbsp;&nbsp;Derivative financial instruments liabilities |  | 656 | 934 |
| &nbsp;&nbsp;&nbsp;Current tax liabilities |  | 31359 | 23789 |
| &nbsp;&nbsp;&nbsp;Trade payables |  | 116569 | 131156 |
|  |  | **748235** | **728514** |
| **Total liabilities** |  | **2907376** | **2787929** |
| **Total equity and liabilities** |  | **4788877** | **4448677** |

---

The accompanying notes are an integral part of these Condensed Consolidated Interim Financial Statements. These Condensed Consolidated Interim Financial Statements should be read in conjunction with our audited Consolidated Financial Statements and notes for the year ended December 31, 2025.

*Corporación América Airports S.A. Unaudited Condensed Consolidated Interim Financial Statements for the three-month period ended March 31, 2026 and 2025 (amounts in thousands of U.S. dollars except share data or as otherwise indicated).*

**CONDENSED CONSOLIDATED INTERIM STATEMENT OF CHANGES IN EQUITY**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Share<br> capital** | **Share<br> premium** | **Treasury<br> shares** | **Free<br> distributable<br> reserves** | **Non-<br> distributable<br> reserves** | **Legal<br> reserves** | **Currency<br> translation<br> adjustment** | **Other<br> reserves** | **Retained<br> earnings <sup>(1)</sup>** | **Total** | **Non-<br> controlling<br> interests** | **Total** |
| **Balance at January 1, 2026** | **165219** | **221434** | **(3918)** | **378910** | **1358028** | **10017** | **(175542)** | **(1332210)** | **964641** | **1586579** | **74169** | **1660748** |
| Income for the period |  |  |  |  |  |  |  |  | 77054 | 77054 | 3386 | 80440 |
| Other comprehensive income for the period |  |  |  |  |  |  | 139267 | 557 |  | 139824 | 10275 | 150099 |
| Share-based payments reserve (Note 14.a and 14.c) |  |  |  |  |  |  |  | 1409 |  | 1409 |  | 1409 |
| Dividends to non-controlling interests | - | - | - | - | - | - | - | - | - | - | (11195) | (11195) |
| **Balance at March 31, 2026** | **165219** | **221434** | **(3918)** | **378910** | **1358028** | **10017** | **(36275)** | **(1330244)** | **1041695** | **1804866** | **76635** | **1881501** |
| **Balance at January 1, 2025** | **163223** | **183430** | **(4094)** | **378910** | **1358028** | **7419** | **(116471)** | **(1319682)** | **718511** | **1369274** | **148686** | **1517960** |
| Income for the period |  |  |  |  |  |  |  |  | 40772 | 40772 | (4526) | 36246 |
| Other comprehensive income / (loss) for the period |  |  |  |  |  |  | 27209 | 239 |  | 27448 | (2630) | 24818 |
| Share-based payments reserve (Note 14.a and 14.c) | - | - | - | - | - | - | - | 264 | - | 264 | - | 264 |
| **Balance at March 31, 2025** | **163223** | **183430** | **(4094)** | **378910** | **1358028** | **7419** | **(89262)** | **(1319179)** | **759283** | **1437758** | **141530** | **1579288** |

---

<sup>(1)</sup> Retained earnings calculated according to Luxembourg Law are disclosed in Note 15.

The accompanying notes are an integral part of these Condensed Consolidated Interim Financial Statements. These Condensed Consolidated Interim Financial Statements should be read in conjunction with our audited Consolidated Financial Statements and notes for the year ended December 31, 2025.

*Corporación América Airports S.A. Unaudited Condensed Consolidated Interim Financial Statements for the three-month period ended March 31, 2026 and 2025 (amounts in thousands of U.S. dollars except share data or as otherwise indicated).*

**CONDENSED CONSOLIDATED INTERIM STATEMENT OF CASH FLOWS**

---

| | | | |
|:---|:---|:---|:---|
|  | | **For the three-month period ended March 31,** | **For the three-month period ended March 31,** |
|  | <br>**Notes** | **2026** | **2025** |
| **Cash flows from operating activities** |  |  |  |
| Income for the period from continuing operations |  | 80440 | 36246 |
| **Adjustments for:** |  |  |  |
| Amortization and depreciation |  | 64999 | 59236 |
| Deferred income tax | **9** | 11683 | 23371 |
| Current income tax | **9** | 36180 | 9011 |
| Share of loss in associates |  | 708 | 495 |
| Loss on disposals of property, plant and equipment |  | 19 | 299 |
| Low value, short term and variable lease payments |  | (471) | (775) |
| Share based compensation expenses |  | 1409 | 264 |
| Interest expenses | **8** | 22402 | 23703 |
| Other financial results, net |  | (1460) | (4088) |
| Net foreign exchange | **8** | (38005) | (10919) |
| Other accruals |  | (1452) | 1986 |
| Inflation adjustment |  | (6267) | (3369) |
| Acquisition of intangible assets |  | (49165) | (33972) |
| Income tax paid |  | (16434) | (9025) |
| Unpaid concession fees |  | 28473 | 25864 |
| Changes in liability for concessions | **8** | 31205 | 27239 |
| Changes in working capital | **17** | (61929) | (65288) |
| **Net cash provided by operating activities** |  | **102335** | **80278** |
| **Cash flows from investing activities** |  |  |  |
| Cash contribution in associates |  |  | (74) |
| Acquisition of other financial assets |  | (83303) | (45821) |
| Disposals of other financial assets |  | 94716 | 44525 |
| Acquisition of property, plant and equipment |  | (2907) | (2247) |
| Acquisition of intangible assets |  | (424) | (282) |
| Proceeds from property, plant and equipment |  | 18 | 26 |
| Other |  | 2357 | 309 |
| **Net cash provided by/(used in) investing activities** |  | **10457** | **(3564)** |
| **Cash flows from financing activities** |  |  |  |
| Loans obtained | **12** | 233 | 95 |
| Guarantee deposits |  | (763) | (219) |
| Principal elements of lease payments |  | (1400) | (1014) |
| Loans repaid | **12** | (26495) | (43964) |
| Interest paid | **12** | (14030) | (14706) |
| Dividends paid to non-controlling interests in subsidiaries |  | - | (11953) |
| **Net cash used in financing activities** |  | **(42455)** | **(71761)** |
| **Increase in cash and cash equivalents from continuing operations** |  | **70337** | **4953** |
| **Movements in cash and cash equivalents** |  |  |  |
| At the beginning of the period |  | 592759 | 439847 |
| Effects of exchange rate changes and inflation adjustment on cash and cash equivalents |  | 3131 | 3818 |
| Increase in cash and cash equivalents from continuing operations |  | 70337 | 4953 |
| **At the end of the period** | **11** | **666227** | **448618** |

---

The accompanying notes are an integral part of these Condensed Consolidated Interim Financial Statements. These Condensed Consolidated Interim Financial Statements should be read in conjunction with our audited Consolidated Financial Statements and notes for the year ended December 31, 2025.

*Corporación América Airports S.A. Unaudited Condensed Consolidated Interim Financial Statements for the three-month period ended March 31, 2026 and 2025 (amounts in thousands of U.S. dollars except share data or as otherwise indicated).*

**NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS**

---

| | |
|:---|:---|
| 1 | General information |
| 2 | Basis of presentation and accounting policies |
| 3 | Segment information |
| 4 | Revenue |
| 5 | Cost of services |
| 6 | Selling, general and administrative expenses |
| 7 | Other operating results |
| 8 | Financial results, net |
| 9 | Income tax |
| 10 | Intangible assets, net |
| 11 | Cash and cash equivalents |
| 12 | Borrowings |
| 13 | Other liabilities |
| 14 | Equity |
| 15 | Contingencies, commitments and restrictions on the distribution of profits |
| 16 | Related party balances and transactions |
| 17 | Cash flow disclosures |
| 18 | Fair value measurement of financial instruments |
| 19 | Financial risk factors |
| 20 | Subsequent events |

---

*Corporación América Airports S.A. Unaudited Condensed Consolidated Interim Financial Statements for the three-month period ended March 31, 2026 and 2025 (amounts in thousands of U.S. dollars except share data or as otherwise indicated).*

**1** **General information**

Corporación América Airports S.A. is a holding company primarily engaged through its operating subsidiaries in the acquisition, development and operation of airport concessions.

The Company's shares trade on the NYSE under the symbol "CAAP".

The Company was formed as a private limited liability company under the laws of the Grand Duchy of Luxembourg on December 14, 2012. The Company is ultimately controlled by SCF, a foundation organized under the laws of the Principality of Liechtenstein. The address of its registered office is in Vaduz.

The Company´s registered office address is 128, Boulevard de la Pétrusse, Luxembourg.

The Group currently has operations in Argentina, Brazil, Uruguay, Armenia, Italy and Ecuador.

A list of the principal Group's subsidiaries is included in Note 2 of the Consolidated Financial Statements for the year ended December 31, 2025.

The fiscal year begins on January 1 and ends on December 31.

These Condensed Consolidated Interim Financial Statements have been approved for issuance by the Board of Directors on May 13, 2026.

**2 Basis of presentation and accounting policies**

**Basis of presentation**

These Condensed Consolidated Interim Financial Statements have been prepared in accordance with IAS 34, "Interim Financial Reporting". The accounting policies used in the preparation of these Condensed Consolidated Interim Financial Statements are consistent with those used in the audited Consolidated Financial Statements for the year ended December 31, 2025. These policies have been consistently applied to all the periods presented, unless otherwise stated. These Condensed Consolidated Interim Financial Statements should be read in conjunction with the audited Consolidated Financial Statements for the year ended December 31, 2025, which have been prepared in accordance with IFRS Accounting Standards ("IFRS") as issued by the International Accounting Standards Board ("IASB") and interpretations ("IFRIC") issued by the IFRS Interpretations Committee applicable to companies reporting under IFRS.

Elimination of all material intercompany transactions and balances between the Company and the other companies and their respective subsidiaries have been made.

The preparation of these Condensed Consolidated Interim Financial Statements requires management to make judgments, estimates and assumptions that affect the reported amounts of assets and liabilities. The significant judgments and key sources of estimation uncertainty are consistent with those described in the audited Consolidated Financial Statements for the year ended December 31, 2025.

Assets and liabilities are classified as current if settlement is expected within twelve months.

There were no changes in valuation techniques during the period and there were no changes in risk management policies since the end of the year ended December 31, 2025.

*Corporación América Airports S.A. Unaudited Condensed Consolidated Interim Financial Statements for the three-month period ended March 31, 2026 and 2025 (amounts in thousands of U.S. dollars except share data or as otherwise indicated).*

**2 Basis of presentation and accounting policies (Cont.)**

**Basis of presentation (Cont.)**

*Application of IAS 29 in financial reporting of Argentine subsidiaries and associates*

Argentina continues to be considered a hyperinflationary economy in accordance with IAS 29 "Financial Reporting in Hyperinflationary Economies". Accordingly, the financial information of subsidiaries and associates whose functional currency is the Argentine peso has been restated for the effects of inflation and translated into U.S. dollars according to the procedures stated in Note 2.X of the Consolidated Financial Statements for the year ended December 31, 2025.

The inflation adjustment and the translation of comparative amounts in the current period is included in *Currency translation adjustment* line. The estimated price index as of March 31, 2026, was 11,036.06 (10,121.37 as of December 31, 2025) and the conversion factor derived from the indexes for the three-month period ended March 31, 2026, was 1.09 (1.07 for the three-month period ended March 31, 2025).

Comparative amounts are the figures presented as current year amounts in the relevant prior year consolidated financial statements, according to IAS 21, considering that they were translated into the currency of a non- hyperinflationary economy.

The ongoing application of the re-translation of comparative amounts to closing exchange rates under IAS 21 and the inflation adjustments required by IAS 29 will lead to a difference because the rate at which the hyper-inflationary currency depreciates against a stable currency is rarely equal to the rate of inflation.

**New and amended standards**

The following accounting standards and interpretations became applicable for the annual period commencing on or after January 1, 2026:

- Classification and measurement of financial instruments – Amendments to IFRS 9 and IFRS 7.

- Annual improvements to IFRS – Volume 11.

The Consolidated Financial Statements for the year ended December 31, 2025 include a discussion of the implications of these amendments and improvements.

The amendments and improvements listed above did not have any material impact on these Condensed Consolidated Interim Financial Statements.

**New and amended standards not yet adopted by the Group**

The following accounting standards and interpretations have been published but their respective application is not mandatory for reporting periods ending December 31, 2026 and have not been early adopted by the Group:

- Presentation and Disclosures in Financial Statements – IFRS 18 (effective for annual periods beginning on or after 1 January 2027).

IFRS 18 will replace IAS 1 Presentation of financial statements, introducing new requirements that will help to achieve comparability of the financial performance of similar entities and provide more relevant information and transparency to users.

Although the adoption of IFRS 18 will not have an impact on the Group´s net profit, the Group expects that grouping items of income and expenses in the statement of profit or loss into the new categories will impact on how operating profit is calculated and reported. From the high-level impact assessment performed by the Group, it is expected that certain foreign exchange results may need to be disaggregated and presented within other foreign exchange result lines classified in the operating income/(loss) or the investing income/(loss) categories.

*Corporación América Airports S.A. Unaudited Condensed Consolidated Interim Financial Statements for the three-month period ended March 31, 2026 and 2025 (amounts in thousands of U.S. dollars except share data or as otherwise indicated).*

**3 Segment information**

These Condensed Consolidated Interim Financial Statements should be read in conjunction with the audited Consolidated Financial Statements for the year ended December 31, 2025, which contains definitions and further information regarding the Group´s reportable operating segments.

The segment information and the definitions of segment performance measures presented in these Condensed Consolidated Interim Financial Statements are consistent with those disclosed in Notes 2.W and 4 to the audited Consolidated Financial Statements for the year ended December 31, 2025.

The Group's reportable operating segments are the six countries in which the Group currently operates, which are Argentina, Brazil, Uruguay, Armenia, Ecuador and Italy.

*Corporación América Airports S.A. Unaudited Condensed Consolidated Interim Financial Statements for the three-month period ended March 31, 2026 and 2025 (amounts in thousands of U.S. dollars except share data or as otherwise indicated).*

**3 Segment information (Cont.)**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Argentina** | **Brazil** | **Uruguay** | **Armenia** | **Ecuador** | **Italy** | **Total reportable<br> segment** |
| **For the three-month period ended March 31, 2026** |  |  |  |  |  |  |  |
| Aeronautical revenue <sup>(\*)</sup> | 179602 | 12351 | 29086 | 20592 | 21809 | 14381 | 277821 |
| Non-aeronautical revenue <sup>(\*)</sup> |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial revenue | 107833 | 20355 | 27607 | 44914 | 8109 | 10245 | 219063 |
| &nbsp;&nbsp;&nbsp;Construction service revenue | 22735 | 440 | 10301 | 1856 |  | 7065 | 42397 |
| &nbsp;&nbsp;&nbsp;Other revenue |  |  | 10 |  |  | 940 | 950 |
| **Revenue** | **310170** | **33146** | **67004** | **67362** | **29918** | **32631** | **540231** |
| Salaries and social security contributions | (54200) | (6087) | (9483) | (7284) | (3532) | (8501) | (89087) |
| Concession fees | (41902) | (6168) | (6625) |  | (9778) | (1828) | (66301) |
| Construction service cost | (22648) | (440) | (10301) | (1614) |  | (5557) | (40560) |
| Maintenance expense | (36697) | (1272) | (6175) | (1668) | (1280) | (4334) | (51426) |
| Amortization and depreciation | (41095) | (3179) | (3370) | (3687) | (1962) | (2996) | (56289) |
| Cost of fuel |  | (74) | (1252) | (27987) |  |  | (29313) |
| Other operational expenditures | (34090) | (5353) | (6746) | (4397) | (5897) | (8693) | (65176) |
| **Operational expenditure** | **(230632)** | **(22573)** | **(43952)** | **(46637)** | **(22449)** | **(31909)** | **(398152)** |
| Other operating income | 7175 | 41 | 62 | 464 |  |  | 7742 |
| Other operating expenses | (741) | (32) | (100) | (372) | (2) | (755) | (2002) |
| **Operating income** | **85972** | **10582** | **23014** | **20817** | **7467** | **(33)** | **147819** |
| Share of income / (loss) in associates |  |  |  |  |  |  |  |
| Amortization and depreciation | 41095 | 3179 | 3370 | 3687 | 1962 | 2996 | 56289 |
| **Adjusted Ebitda** | **127067** | **13761** | **26384** | **24504** | **9429** | **2963** | **204108** |
| Construction services revenue | (22735) | (440) | (10301) | (1856) |  | (7065) | (42397) |
| Construction services cost | 22648 | 440 | 10301 | 1614 |  | 5557 | 40560 |
| **Adjusted Ebitda excluding Construction Services** | **126980** | **13761** | **26384** | **24262** | **9429** | **1455** | **202271** |
| **March 31, 2026** |  |  |  |  |  |  |  |
| Current assets | 265862 | 131641 | 65673 | 90354 | 44295 | 59844 | **657669** |
| Non-current assets | 2115162 | 507996 | 274976 | 217372 | 44620 | 307234 | **3467360** |
| Capital Expenditure | 23057 | 660 | 11346 | 3873 | 1373 | 7853 | **48162** |
| Current liabilities | 264290 | 299069 | 68786 | 87713 | 49406 | 79283 | **848547** |
| Non-current liabilities | 808681 | 849421 | 68768 | 123 | 5458 | 146041 | **1878492** |

---

<sup>(\*)</sup> Mainly includes revenues recognized over time, see Note 4.

*Corporación América Airports S.A. Unaudited Condensed Consolidated Interim Financial Statements for the three-month period ended March 31, 2026 and 2025 (amounts in thousands of U.S. dollars except share data or as otherwise indicated).*

**3 Segment information (Cont.)**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Argentina** | **Brazil** | **Uruguay** | **Armenia** | **Ecuador** | **Italy** | **Total reportable<br> segment** |
| **For the three-month period ended March 31, 2025** |  |  |  |  |  |  |  |
| Aeronautical revenue <sup>(\*)</sup> | 152563 | 9245 | 25812 | 17421 | 19926 | 11737 | 236704 |
| Non-aeronautical revenue <sup>(\*)</sup> |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial revenue | 96033 | 15745 | 23223 | 29786 | 7314 | 8771 | 180872 |
| &nbsp;&nbsp;&nbsp;Construction service revenue | 20219 | 184 | 4535 | 896 |  | 5072 | 30906 |
| &nbsp;&nbsp;&nbsp;Other revenue |  |  | 11 |  |  | 1500 | 1511 |
| **Revenue** | **268815** | **25174** | **53581** | **48103** | **27240** | **27080** | **449993** |
| Salaries and social security contributions | (48391) | (4714) | (7596) | (5705) | (3186) | (7015) | (76607) |
| Concession fees | (36361) | (5229) | (5977) |  | (8919) | (1525) | (58011) |
| Construction service cost | (20142) | (184) | (4535) | (870) |  | (2943) | (28674) |
| Maintenance expense | (35133) | (1038) | (5373) | (1448) | (1654) | (3295) | (47941) |
| Amortization and depreciation | (36054) | (2698) | (2833) | (5481) | (1819) | (2596) | (51481) |
| Cost of fuel |  | (64) | (1226) | (17035) |  |  | (18325) |
| Other operational expenditures | (31228) | (4475) | (6183) | (4441) | (5376) | (8784) | (60487) |
| **Operational expenditure** | **(207309)** | **(18402)** | **(33723)** | **(34980)** | **(20954)** | **(26158)** | **(341526)** |
| Other operating income | 6551 | 115 | 157 | 115 |  | 13 | 6951 |
| Other operating expenses | (4413) | (4) | (61) | (570) | (6) |  | (5054) |
| **Operating income** | **63644** | **6883** | **19954** | **12668** | **6280** | **935** | **110364** |
| Share of loss in associates |  |  |  |  |  |  |  |
| Amortization and depreciation | 36054 | 2698 | 2833 | 5481 | 1819 | 2596 | 51481 |
| **Adjusted Ebitda** | **99698** | **9581** | **22787** | **18149** | **8099** | **3531** | **161845** |
| Construction services revenue | (20219) | (184) | (4535) | (896) |  | (5072) | (30906) |
| Construction services cost | 20142 | 184 | 4535 | 870 |  | 2943 | 28674 |
| **Adjusted Ebitda excluding Construction Services** | **99621** | **9581** | **22787** | **18123** | **8099** | **1402** | **159613** |
| Capital Expenditure | 20339 | 569 | 6989 | 2747 | 177 | 6197 | **37018** |
| **December 31, 2025** |  |  |  |  |  |  |  |
| Current assets | 251740 | 112487 | 47710 | 73022 | 61014 | 73155 | **619128** |
| Non-current assets | 1852734 | 489453 | 267095 | 225285 | 46023 | 308678 | **3189268** |
| Capital Expenditure | 123742 | 2832 | 38819 | 22039 | 5225 | 34128 | **226785** |
| Current liabilities | 277104 | 279587 | 36875 | 22134 | 51118 | 85034 | **751852** |
| Non-current liabilities | 764975 | 782678 | 68911 | 127 | 5232 | 151258 | **1773181** |

---

<sup>(\*)</sup> Mainly includes revenues recognized over time, see Note 4.

*Corporación América Airports S.A. Unaudited Condensed Consolidated Interim Financial Statements for the three-month period ended March 31, 2026 and 2025 (amounts in thousands of U.S. dollars except share data or as otherwise indicated).*

**3 Segment information (Cont.)**

**Reconciliations**

Adjusted EBITDA related to the reportable segments reconciles to income before income tax expense as follows:

---

| | | |
|:---|:---|:---|
|  | **For the three-month period<br> ended March 31, 2026** | **For the three-month period<br> ended March 31, 2025** |
| **Adjusted Ebitda - Total reportable segment** | **204108** | **161845** |
| Amortization and depreciation | (56289) | (51481) |
| Intrasegment Adjustments | (7) |  |
| Unallocated | (9054) | (6811) |
| Financial income | 16584 | 10873 |
| Financial loss | (22965) | (42254) |
| Inflation adjustment | (4074) | (3544) |
| **Income before income tax expense** | **128303** | **68628** |

---

Revenue, operational expenditures, as well as total operating income / (loss) related to the reportable segments are reconciled below to the corresponding totals shown in these Condensed Consolidated Financial Statements. Additionally, operating income / (loss) is reconciled to income for the period.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **For the three-month period ended March 31, 2026** | **For the three-month period ended March 31, 2026** | **For the three-month period ended March 31, 2026** | **For the three-month period ended March 31, 2026** | **For the three-month period ended March 31, 2025** | **For the three-month period ended March 31, 2025** | **For the three-month period ended March 31, 2025** | **For the three-month period ended March 31, 2025** |
|  | **Total reportable<br> segment** | **Intrasegment<br> Adjustments** | **Unallocated** | **Total** | **Total reportable<br> segment** | **Intrasegment<br> Adjustments** | **Unallocated** | **Total** |
| **Revenue** | **540231** | **(4741)** | **2134** | **537624** | **449993** | **(4385)** | **2210** | **447818** |
| **Operational expenditure** | **(398152)** | **4734** | **(10434)** | **(403852)** | **(341526)** | **4385** | **(8526)** | **(345667)** |
| Other operating income | 7742 |  |  | 7742 | 6951 |  |  | 6951 |
| Other operating expenses | (2002) |  | (46) | (2048) | (5054) |  |  | (5054) |
| **Operating income / (loss)** | **147819** | **(7)** | **(8346)** | **139466** | **110364** | **-** | **(6316)** | **104048** |
| Share of loss in associates |  |  | (708) | (708) |  |  | (495) | (495) |
| Financial income |  |  |  | 16584 |  |  |  | 10873 |
| Financial loss |  |  |  | (22965) |  |  |  | (42254) |
| Inflation adjustment |  |  |  | (4074) |  |  |  | (3544) |
| **Income before income tax expense** |  |  |  | **128303** |  |  |  | **68628** |
| Income tax |  |  |  | (47863) |  |  |  | (32382) |
| **Income for the period** |  |  |  | **80440** |  |  |  | **36246** |

---

Assets and liabilities related to the reportable segments reconcile to the corresponding totals shown in these Condensed Consolidated Interim Financial Statements as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **At March 31, 2026** | **At March 31, 2026** | **At March 31, 2026** | **At March 31, 2026** | **At December 31, 2025** | **At December 31, 2025** | **At December 31, 2025** | **At December 31, 2025** |
|  | **Total reportable<br> segment** | **Intrasegment<br> Adjustments** | **Unallocated** | **Total** | **Total reportable<br> segment** | **Intrasegment<br> Adjustments** | **Unallocated** | **Total** |
| Current assets | 657669 | (279568) | 670979 | **1049080** | 619128 | (193373) | 559287 | **985042** |
| Non-current assets | 3467360 | (15417) | 287854 | **3739797** | 3189268 | (15568) | 289935 | **3463635** |
| Capital Expenditure | 48162 |  |  | **48162** | 226785 |  | 2 | **226787** |
| Current liabilities | 848547 | (273668) | 173356 | **748235** | 751852 | (193604) | 170266 | **728514** |
| Non-current liabilities | 1878492 | (21239) | 301888 | **2159141** | 1773181 | (15496) | 301730 | **2059415** |

---

*Corporación América Airports S.A. Unaudited Condensed Consolidated Interim Financial Statements for the three-month period ended March 31, 2026 and 2025 (amounts in thousands of U.S. dollars except share data or as otherwise indicated).*

**4 Revenue**

---

| | | |
|:---|:---|:---|
|  | **For the three-month period ended March 31,** | **For the three-month period ended March 31,** |
|  | **2026** | **2025** |
| Aeronautical revenue | 277821 | 236704 |
| Non-aeronautical revenue |  |  |
| &nbsp;&nbsp;&nbsp;Commercial revenue | 216153 | 178697 |
| &nbsp;&nbsp;&nbsp;Construction service revenue | 42397 | 30906 |
| &nbsp;&nbsp;&nbsp;Other revenue | 1253 | 1511 |
|  | **537624** | **447818** |

---

---

| | | |
|:---|:---|:---|
| **Timing of revenue recognition** | | |
| Over time | 418703 | 353357 |
| At a point in time | 33323 | 20187 |
| Revenues from sub-concession of spaces | 85,598 | 74,274 |
| **Revenue** | **537,624** | **447,818** |

---

**5 Cost of services**

---

| | | |
|:---|:---|:---|
|  | **For the three-month period ended March 31,** | **For the three-month period ended March 31,** |
|  | **2026** | **2025** |
| Salaries and social security contributions | (71059) | (63383) |
| Concession fees <sup>(1)</sup> | (63641) | (55751) |
| Amortization and depreciation <sup>(2)</sup> | (56123) | (51683) |
| Maintenance expenses | (49673) | (46828) |
| Construction services cost | (40560) | (28674) |
| Cost of fuel | (29313) | (18325) |
| Services and fees | (17003) | (16885) |
| Office expenses | (3568) | (3836) |
| Taxes | (1558) | (1322) |
| Others | (6572) | (4647) |
|  | **(339070)** | **(291334)** |

---

<sup>(1)</sup> Includes depreciation for fixed concession assets fee, included within the depreciation in Note 10, of USD 5,583 for the three-month period ended March 31, 2026 (USD 4,816 for the three-month period ended March 31, 2025).

<sup>(2)</sup> Includes depreciation of leases of USD 969 for the three-month period ended March 31, 2026 (USD 661 for the three-month period ended March 31, 2025).

**6 Selling, general and administrative expenses**

---

| | | |
|:---|:---|:---|
|  | **For the three-month period ended March 31,** | **For the three-month period ended March 31,** |
|  | **2026** | **2025** |
| Taxes <sup>(1)</sup> | (19148) | (16935) |
| Salaries and social security contributions | (18341) | (13479) |
| Services and fees | (14764) | (11845) |
| Amortization and depreciation <sup>(2)</sup> | (3122) | (2592) |
| Office expenses | (2951) | (2489) |
| Maintenance expenses | (1761) | (1095) |
| Advertising | (1401) | (691) |
| Insurance | (847) | (957) |
| Bad debts | (2500) | (2613) |
| Bad debts recovery | 2089 | 1059 |
| Other | (2036) | (2696) |
|  | **(64782)** | **(54333)** |

---

<sup>(1)</sup> Mainly includes taxes over bank transactions and tax on revenue not included in the line item "Income tax".

<sup>(2)</sup> Includes depreciation of leases of USD 227 for the three-month period ended March 31, 2026 (USD 188 for the three-month period ended on March 31, 2025).

*Corporación América Airports S.A. Unaudited Condensed Consolidated Interim Financial Statements for the three-month period ended March 31, 2026 and 2025 (amounts in thousands of U.S. dollars except share data or as otherwise indicated).*

**7 Other operating income**

---

| | | |
|:---|:---|:---|
|  | **For the three-month period ended March 31,** | **For the three-month period ended March 31,** |
|  | **2026** | **2025** |
| Government grants <sup>(1)</sup> | 6980 | 6057 |
| Other | 762 | 894 |
|  | **7742** | **6951** |

---

<sup>(1)</sup> Corresponds to government grants for the development of airport infrastructure in Group A, operated by AA2000, of the National Airport System in Argentina. There are no unfulfilled conditions or other contingencies related to these grants.

**8 Financial results, net**

---

| | | |
|:---|:---|:---|
|  | **For the three-month period ended March 31,** | **For the three-month period ended March 31,** |
|  | **2026** | **2025** |
| Interest income | 12348 | 8603 |
| Foreign exchange results | 29 | 57 |
| Other financial income | 4207 | 2213 |
| **Financial income** | **16584** | **10873** |
| Interest expense | (22402) | (23703) |
| Foreign exchange results <sup>(1)</sup> | 37976 | 10862 |
| Changes in liability for concessions <sup>(2)</sup> | (31205) | (27239) |
| Other financial loss | (7334) | (2174) |
| **Financial loss** | **(22965)** | **(42254)** |
| Inflation adjustment | (4074) | (3544) |
| **Inflation adjustment** | **(4074)** | **(3544)** |
| **Net financial results** | **(10455)** | **(34925)** |

---

<sup>(1)</sup> Corresponds mainly to foreign exchange results in real terms (inflation-adjusted) arising from foreign currency borrowings in AA2000.

<sup>(2)</sup> Corresponds mainly to changes in the liabilities of Brazilian concessions due to passage of time and changes in the Brazilian IPCA.

**9 Income tax**

---

| | | |
|:---|:---|:---|
|  | **For the three-month period ended March 31,** | **For the three-month period ended March 31,** |
|  | **2026** | **2025** |
| Current income tax | (36180) | (9011) |
| Deferred income tax | (11683) | (23371) |
|  | **(47863)** | **(32382)** |

---

*Corporación América Airports S.A. Unaudited Condensed Consolidated Interim Financial Statements for the three-month period ended March 31, 2026 and 2025 (amounts in thousands of U.S. dollars except share data or as otherwise indicated).*

**10 Intangible assets, net**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Concession<br> Assets** | **Goodwill** | **Patent,<br> intellectual<br> property rights<br> and others** | **Total** |
| **Cost** |  |  |  |  |
| **Balances at January 1, 2026** | **5552671** | **9917** | **28805** | **5591393** |
| Acquisitions | 44633 |  | 424 | 45057 |
| Disposals | (27) |  | (620) | (647) |
| Other | 153 |  |  | 153 |
| Transfer from property plant and equipment | 7191 |  |  | 7191 |
| Translation differences and inflation adjustment | 495742 | (195) | (344) | 495203 |
|  | **6100363** | **9722** | **28265** | **6138350** |
| **Depreciation** |  |  |  |  |
| **Accumulated at January 1, 2026** | **2429479** | **-** | **23934** | **2453413** |
| Depreciation of the period | 60383 |  | 328 | 60711 |
| Disposals | (10) |  | (620) | (630) |
| Transfer from property plant and equipment | 3774 |  |  | 3774 |
| Translation differences and inflation adjustment | 212599 | - | (375) | 212224 |
|  | **2706225** | **-** | **23267** | **2729492** |
| **At March 31, 2026** | **3394138** | **9722** | **4998** | **3408858** |
| **Cost** |  |  |  |  |
| **Balances at January 1, 2025** | **5402300** | **8788** | **23843** | **5434931** |
| Acquisitions | 33140 |  | 282 | 33422 |
| Disposals |  |  | (141) | (141) |
| Write-off | (8254) |  |  | (8254) |
| Translation differences and inflation adjustment | 175252 | 359 | 984 | 176595 |
|  | **5602438** | **9147** | **24968** | **5636553** |
| **Depreciation** |  |  |  |  |
| **Accumulated at January 1, 2025** | **2258994** | **-** | **20489** | **2279483** |
| Depreciation of the period | 55420 |  | 211 | 55631 |
| Disposals |  |  | (91) | (91) |
| Write-off | (4729) |  |  | (4729) |
| Translation differences and inflation adjustment | 59140 | - | 855 | 59995 |
|  | **2368825** | **-** | **21464** | **2390289** |
| **At March 31, 2025** | **3233613** | **9147** | **3504** | **3246264** |

---

During 2026 and 2025 the Group has not identified impairment indicators except in the Brazilian segment due to the losses from its operations.

Therefore, the Group performed the impairment test of the Brazilian CGU (covering concession assets with a carrying value of USD 558.5 million as of March 31, 2026) based on the discounted cash flow model covering the remaining concession period (value in use), considering significant assumptions that required management judgment related to passenger growth rates and discount rate, combined with historical data.

For the purpose of impairment testing, goodwill acquired in a business combination is allocated to each of the CGUs of a subsidiary or group of subsidiaries that are expected to benefit from such business combination.

As of March 31, 2026 and December 31, 2025, the recoverable amount of aforementioned CGU's exceeded their respective carrying amount.

*Corporación América Airports S.A. Unaudited Condensed Consolidated Interim Financial Statements for the three-month period ended March 31, 2026 and 2025 (amounts in thousands of U.S. dollars except share data or as otherwise indicated).*

**11 Cash and cash equivalents**

---

| | | |
|:---|:---|:---|
|  | **At March 31, 2026** | **At December 31, 2025** |
| Cash to be deposited | 1212 | 281 |
| Cash at banks | 91616 | 171762 |
| Time deposits | 47084 | 33873 |
| Other cash equivalents <sup>(1)</sup> | 526315 | 386843 |
|  | **666227** | **592759** |

---

<sup>(1)</sup> Mainly includes bank deposit certificates with immediate liquidity, treasury bills and highly liquid investments in mutual funds.

The Group considers that its cash and cash equivalents have low credit risk in view of the external credit ratings of the counterparties and low risk of changes in value.

As of March 31, 2026, cash and cash equivalents includes restricted cash on deposit as collateral for a total amount of USD 5,803 (USD 4,924 as of December 31, 2025).

**12 Borrowings**

---

| | | |
|:---|:---|:---|
|  | **At March 31, 2026** | **At December 31, 2025** |
| **Non-current** |  |  |
| Bank and financial borrowings (\*\*) | 283918 | 281644 |
| Notes (\*) | 652978 | 674212 |
|  | **936896** | **955856** |
| **Current** |  |  |
| Bank and financial borrowings (\*\*) | 24986 | 21689 |
| Notes (\*) | 106547 | 100595 |
| Other | 16919 | 17078 |
|  | **148452** | **139362** |
| **Total Borrowings** | **1085348** | **1095218** |

---

Changes in borrowings during the period is as follows:

---

| | | |
|:---|:---|:---|
|  | **For the three-month period ended March 31,** | **For the three-month period ended March 31,** |
|  | **2026** | **2025** |
| **Balances at the beginning of the period** | **1095218** | **1158071** |
| Loans obtained | 233 | 95 |
| Loans repaid | (26495) | (43964) |
| Interest paid | (14030) | (14706) |
| Accrued interest for the period | 22240 | 23052 |
| Translation differences and inflation adjustment | 8182 | 16232 |
| **Balances at the end of the period** | **1085348** | **1138780** |

---

*Corporación América Airports S.A. Unaudited Condensed Consolidated Interim Financial Statements for the three-month period ended March 31, 2026 and 2025 (amounts in thousands of U.S. dollars except share data or as otherwise indicated).*

**12 Borrowings (Cont.)**

The maturity of borrowings is as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **1 year or less** | **1 - 2 years** | **2 – 5 years** | **Over 5 years** | **Total** |
| **At March 31, 2026 <sup>(1)</sup>** | 223224 | 195677 | 682019 | 316565 | **1417485** |
| **At December 31, 2025 <sup>(1)</sup>** | 221588 | 191683 | 681905 | 350081 | **1445257** |

---

<sup>(1)</sup> The amounts disclosed in the table are undiscounted cash flows of principal and estimated interest. Variable interest rate cash flows have been estimated using variable interest rates applicable at the end of the reporting period.

These Condensed Consolidated Interim Financial Statements should be read in conjunction with the audited Consolidated Financial Statements for the year ended December 31, 2025, which contains further information regarding borrowings.

(\*) Notes include the following as of March 31, 2026:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Note** | **Issuance** | **Currency** | **Nominal value <br> (in millions<br> of USD)** | **Maturity** | **Interest rate** | **Outstanding<br> (in millions of<br> USD)** |
| ACI | Senior secured guarantee notes<br> Senior secured guarantee notes | Nov-2021<br> May-2015, May-2020 <sup>(1)</sup> | USD<br> USD | 246.2<br> 14.6 | Nov-2034<br> Nov-2032 | Fixed 6.875%<br> Fixed 6.875% | 236.4<br> 9.4 |
|  | Senior secured guarantee notes  | Feb-2017, May-2020 <sup>(1)</sup> | USD | 212.3 | Feb-2027 | Fixed 6.875% | 15.0 |
|  | Senior secured guarantee notes  | Oct-2021 | USD | 208.9 | Aug-2031 | Fixed 8.500% | 206.5 |
|  | Class 1 Series 2021 Notes | Nov-2021 | USD | 64.0 | Aug-2031 | Fixed 8.500% | 61.4 |
| AA2000 | Class 4 Notes | Nov-2021 | USD | 62.0 | Nov-2028 | Fixed 9.500% | 48.0 |
|  | Class 5 Notes | Feb-2022 | USD <sup>(2)</sup> | 138.0 | Feb-2032 | Fixed 5.500% | 138.4 |
|  | Class 9 Notes | Aug-2022, July-2023 | USD <sup>(2)</sup> | 30.0 | Aug-2026 | Fixed 0.000% | 15.3 |
|  | Class 11 Notes | Dec-2024 | USD | 28.8 | Dec-2026 | Fixed 5.500% | 29.1 |
| **Total** |  |  |  |  |  |  | **759.5** |

---

<sup>(1)</sup> A partial exchange of the notes initially issued was performed during 2020 and 2021, which is detailed below.

<sup>(2)</sup> These notes are dollar-linked, denominated in USD but issued and payable in ARS.

(\*) Notes include the following as of December 31. 2025:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Note** | **Issuance** | **Currency** | **Nominal value<br> (in millions<br> of USD)** | **Maturity** | **Interest rate** | **Outstanding<br> (in millions of<br> USD)** |
| ACI  | Senior secured guarantee notes | Nov-2021 | USD | 246.2 | Nov-2034 | Fixed 6.875% | 232.0 |
| ACI  | Senior secured guarantee notes | May-2015, May-2020 <sup>(1)</sup> | USD | 14.6 | Nov-2032 | Fixed 6.875% | 9.3 |
|  | Senior secured guarantee notes  | Feb-2017, May-2020 <sup>(1)</sup> | USD | 212.3 | Feb-2027 | Fixed 6.875% | 20.9 |
|  | Senior secured guarantee notes  | Oct-2021 | USD | 208.9 | Aug-2031 | Fixed 8.500% | 209.5 |
|  | Class 1 Series 2021 Notes | Nov-2021 | USD | 64.0 | Aug-2031 | Fixed 8.500% | 62.3 |
| AA2000 | Class 4 Notes | Nov-2021 | USD | 62.0 | Nov-2028 | Fixed 9.500% | 50.7 |
|  | Class 5 Notes | Feb-2022 | USD <sup>(2)</sup> | 138.0 | Feb-2032 | Fixed 5.500% | 138.5 |
|  | Class 9 Notes | Aug-2022, July-2023 | USD <sup>(2)</sup> | 30.0 | Aug-2026 | Fixed 0.000% | 22.9 |
|  | Class 11 Notes | Dec-2024 | USD | 28.8 | Dec-2026 | Fixed 5.500% | 28.7 |
| **Total** |  |  |  |  |  |  | **774.8** |

---

<sup>(1)</sup> A partial exchange of the notes initially issued was performed during 2020 and 2021, which is detailed below.

<sup>(2)</sup> These notes are dollar-linked, denominated in USD but issued and payable in ARS.

*Corporación América Airports S.A. Unaudited Condensed Consolidated Interim Financial Statements for the three-month period ended March 31, 2026 and 2025 (amounts in thousands of U.S. dollars except share data or as otherwise indicated).*

**12 Borrowings (Cont.)**

(\*\*) As of March 31, 2026, significant bank and financial borrowings include the following:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Lender** | **Currency** | **Maturity** | **Interest Rate** | **Interest Rate** | **Outstanding<br> (In millions of<br> USD)** |
| ICAB | BNDES | R$ | Dec-2033 | Variable | TJLP plus spread | 174.6 A |
| TCU  | Santander Uruguay | USD | Nov-2027 | Fixed | 5.37% | 0.4 D |
| TCU  | Santander Uruguay | USD | Jan-2028 | Fixed | 5.37% | 0.5 D |
| TCU  | Banco BBVA Uruguay | USD | Oct-2033 | Fixed | 4.30% | 6.8 B |
| TA | Lenders | EUR | Jun-2030 | Variable | Euribor plus spread | 114.0 A |
| CAISA | Santander Uruguay | USD | Apr-2027 | Fixed | 5.10% | 2.5 B |
| CAISA | Banco Itaú | USD | Apr-2027 | Fixed | 3.80% | 2.4 |
| CAISA | Santander Uruguay | USD | Apr-2029 | Variable | SOFR plus spread | 3.7 D |
| PDS | BROU | USD | Mar-2028 | Variable | 4.69% | 4.0 C |
| **Total** |  |  |  |  |  | **308.9** |

---

(\*\*) As of December 31, 2025, **s**ignificant bank and financial borrowings include the following:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Lender** | **Currency** | **Maturity** | **Interest Rate** | **Interest Rate** | **Outstanding<br> (In millions of<br> USD)** |
| ICAB | BNDES | R$ | Dec-2033 | Variable | TJLP plus spread | 168.0 A |
| TCU | Scotiabank Uruguay | USD | Feb-2026 | Fixed | 4.30% | 0.1 D |
| TCU | Santander Uruguay | USD | Nov-2027 | Fixed | 5.37% | 0.5 D |
| TCU | Santander Uruguay | USD | Jan-2028 | Fixed | 5.37% | 0.5 D |
| TCU | Banco BBVA Uruguay | USD | Oct-2033 | Fixed | 4.30% | 6.7 B |
| TA | Lenders | EUR | Jun-2030 | Variable | Euribor plus spread | 114.5 A |
| CAISA | Santander Uruguay | USD | Apr-2027 | Fixed | 5.10% | 2.4 B |
| CAISA | Banco Itaú | USD | Apr-2027 | Fixed | 3.80% | 2.4 |
| CAISA | Santander Uruguay | USD | Apr-2029 | Variable | SOFR plus spread | 3.7 D |
| PDS | BROU | USD | Mar-2028 | Variable | 4.95% | 4.5 C |
| **Total** |  |  |  |  |  | **303.3** |

---

<sup>(1)</sup> A - Secured/guaranteed.

B - Secured/unguaranteed.

C - Unsecured/guaranteed.

D - Unsecured/unguaranteed.

The Consolidated Financial Statements for the year ended December 31, 2025 includes a detail of the covenants related to Notes, bank and financial borrowings which mainly require the maintenance of certain financial ratios. As of March 31, 2026, the Company and its subsidiaries met the financial covenants under all outstanding financings.

*Corporación América Airports S.A. Unaudited Condensed Consolidated Interim Financial Statements for the three-month period ended March 31, 2026 and 2025 (amounts in thousands of U.S. dollars except share data or as otherwise indicated).*

**13 Other liabilities**

---

| | | |
|:---|:---|:---|
|  | **At March 31, 2026** | **At December 31, 2025** |
| **Non-current** |  |  |
| Concession fee payable <sup>(1)</sup> | 684101 | 622938 |
| Advances from customers | 7482 | 8303 |
| Provisions for legal claims <sup>(4)</sup> | 5803 | 6139 |
| Provision for maintenance costs <sup>(2)</sup> | 25175 | 26588 |
| Other taxes payable | 265 | 287 |
| Employee benefit obligation <sup>(3)</sup> | 4113 | 4180 |
| Other liabilities with related parties (Note 16) | 11380 | 11742 |
| Other payables | 14070 | 13316 |
|  | **752389** | **693493** |
| **Current** |  |  |
| Concession fee payable <sup>(1)</sup> | 287921 | 295860 |
| Other taxes payable | 33572 | 26979 |
| Salary payable | 60254 | 57224 |
| Other liabilities with related parties (Note 16) | 3625 | 2078 |
| Advances from customers | 4124 | 5145 |
| Provision for maintenance costs <sup>(2)</sup> | 6933 | 5335 |
| Expenses provisions | 2259 | 3501 |
| Provision for legal claims <sup>(4)</sup> | 7631 | 7481 |
| Other payables | 41465 | 25344 |
|  | **447784** | **428947** |

---

Maturity of the other liabilities is as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **1 year or less** | **1 - 2 years** | **2 - 5 years** | **Over 5 years** | **Total** |
| **At March 31, 2026 <sup>(\*)</sup>** | 447784 | 94795 | 296070 | 1522242 | **2360891** |
| **At December 31, 2025 <sup>(\*)</sup>** | 428947 | 93512 | 281274 | 1449136 | **2252869** |

---

(\*) The amounts disclosed in the table are undiscounted cash flows.

*Corporación América Airports S.A. Unaudited Condensed Consolidated Interim Financial Statements for the three-month period ended March 31, 2026 and 2025 (amounts in thousands of U.S. dollars except share data or as otherwise indicated).*

**13 Other liabilities (Cont.)**

<sup>(1)</sup> The most significant amounts included in the concession fee payable as of March 31, 2026 and December 31, 2025 relate to the concession agreement between ANAC and ICAB.

Changes in the period for fixed and variable concession fee payable are as follows:

---

| | | |
|:---|:---|:---|
|  | **For the three-month period ended March 31,** | **For the three-month period ended March 31,** |
|  | **2026** | **2025** |
| **Balances at the beginning of the period** | **918798** | **748515** |
| Financial results <sup>(\*)</sup> | 31205 | 27239 |
| Other | 51 | (98) |
| Concession fees accrued | 58058 | 50935 |
| Payments | (83316) | (75817) |
| Translation differences and inflation adjustment | 47226 | 54038 |
| **Balances at the end of the period** | **972022** | **804812** |

---

<sup>(\*)</sup> Mainly includes changes in the liabilities of Brazilian concessions due to passage of time and inflation adjustment shown in Note 8.

As of March 31, 2026, there have been no material changes to the matters related to fixed concession fees payable by ICAB disclosed in Note 23 to the Consolidated Financial Statements for the year ended December 31, 2025.

<sup>(2)</sup> Changes in the period of the provision for maintenance costs are as follows:

---

| | | |
|:---|:---|:---|
|  | **For the three-month period ended March 31,** | **For the three-month period ended March 31,** |
|  | **2026** | **2025** |
| **Balances at the beginning of the period** | **31923** | **28106** |
| Accrual of the period | 1513 | 1139 |
| Use of the provision | (629) | (320) |
| Translation differences and inflation adjustment | (699) | 1176 |
| **Balances at the end of the period** | **32108** | **30101** |

---

<sup>(3)</sup> Changes in the period of the provision for employee benefits is as follows:

---

| | | |
|:---|:---|:---|
|  | **For the three-month period ended March 31,** | **For the three-month period ended March 31,** |
|  | **2026** | **2025** |
| **Balances at the beginning of the period** | **4180** | **3885** |
| Actuarial loss (in other comprehensive income) | (77) | (38) |
| Service cost | 154 | 127 |
| Amounts paid in the period | (90) | (179) |
| Translation differences and inflation adjustment | (54) | 100 |
| **Balances at the end of the period** | **4113** | **3895** |

---

<sup>(4)</sup> Changes in the period of the provision for legal claims is as follows:

---

| | | |
|:---|:---|:---|
|  | **For the three-month period ended March 31,** | **For the three-month period ended March 31,** |
|  | **2026** | **2025** |
| **Balances at the beginning of the period** | **13620** | **13817** |
| Accrual of the period | 564 | 47 |
| Use of the provision | (1018) | (410) |
| Translation differences and inflation adjustment | 268 | 593 |
| **Balances at the end of the period** | **13434** | **14047** |

---

*Corporación América Airports S.A. Unaudited Condensed Consolidated Interim Financial Statements for the three-month period ended March 31, 2026 and 2025 (amounts in thousands of U.S. dollars except share data or as otherwise indicated).*

**14 Equity**

*a) Treasury shares*

The remaining shares issued pursuant to the Management compensation plan (defined in Note 30 of the Consolidated Financial Statements for the year ended December 31, 2025) are held in treasury until their allocation to executives and key employees.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Treasury shares** | **For the three-month period ended March 31,** | **For the three-month period ended March 31,** | **For the three-month period ended March 31,** | **For the three-month period ended March 31,** |
|  | **2026** | **2026** | **2025** | **2025** |
|  | **Shares** | **USD** | **Shares** | **USD** |
| **Balances at the beginning of the period** | **2040816** | **3918** | **2132325** | **4094** |
| Transfer of treasury shares to executives and key employees | - | - | - | - |
| **Balances at the end of the period** | **2040816** | **3918** | **2132325** | **4094** |

---

Set out below are summaries of shares granted under the Management compensation plan for the three-month period ended March 31, 2026 and 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Average <br> price per share** | **2026** | **Average <br> price per share** | **2025** |
| **As at January 1,** | **16.81** | **81070** | **12.44** | **106667** |
| Granted during the year | 24.02 | 243595 |  |  |
| Exercised during the year | - | - | - | - |
| **As at March 31,** | **22.22** | **324665** | **12.44** | **106667** |

---

Additionally, below are the monetary value of the shares granted, exercised and accrued (defined in Notes 2.M and 30 of the Consolidated Financial Statements for the year ended December 31, 2025) for the three-month period ended March 31, 2026 and 2025:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **2026** | **2026** | **2026** | **2025** | **2025** | **2025** |
| <br>**Assignment date** | **Granted** | **Exercised** | **Accrued** | **Granted** | **Exercised** | **Accrued** |
| April 2023 |  |  |  |  |  | 36 |
| November 2023 |  |  |  |  |  | 22 |
| August 2024 |  |  | 74 |  |  | 206 |
| September 2025 |  |  | 101 |  |  |  |
| December 2025 |  |  | 169 |  |  |  |
| March 2026 | 5850 |  | 1065 |  |  | - |
| **As at March 31,** | **5850** |  | **1409** |  |  | **264** |

---

*Corporación América Airports S.A. Unaudited Condensed Consolidated Interim Financial Statements for the three-month period ended March 31, 2026 and 2025 (amounts in thousands of U.S. dollars except share data or as otherwise indicated).*

**14 Equity (Cont.)**

*b) Other comprehensive income*

The movements of the reserve of other comprehensive income for the period of the owners of the parent is as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Currency<br> translation<br> adjustments** | **Remeasurement<br> of defined benefit<br> obligations (\*)** | **Cash flow<br> hedge (\*)** | **Share of other<br> comprehensive<br> income from<br> associates** | **Income <br> tax effect <br> (\*)** | **Transfer from<br> shareholders<br> equity –<br> currency<br> translation<br> differences** | **Total** |
| **Balances at January 1, 2026** | **(197805)** | **571** | **(770)** | **(41139)** | **28** | **63402** | **(175713)** |
| Other comprehensive income / (loss) for the period | 139271 | 31 | 701 | (4) | (175) | - | **139824** |
| **For the period ended March 31, 2026** | **(58534)** | **602** | **(69)** | **(41143)** | **(147)** | **63402** | **(35889)** |
| **Balances at January 1, 2025** | **(138653)** | **529** | **(1643)** | **(41220)** | **268** | **63402** | **(117317)** |
| Other comprehensive income / (loss) for the period | 27177 | 17 | 298 | 32 | (76) | - | **27448** |
| **For the period ended March 31, 2025** | **(111476)** | **546** | **(1345)** | **(41188)** | **192** | **63402** | **(89869)** |

---

<sup>(\*)</sup> Income tax relating to OCI amounts to measurement of defined benefit obligations and cash flow hedge. The movement was recognized as Other comprehensive income for the period of other reserves.

*c) Other reserves*

The movements of Other reserves of the owners of the Company are as follows:

---

| | | |
|:---|:---|:---|
|  | **For the three-month period ended March 31,** | **For the three-month period ended March 31,** |
|  | **2026** | **2025** |
| **Balances at the beginning of the period** | **(1332210)** | **(1319682)** |
| Share-based compensation reserve | 1409 | 264 |
| Hedge reserve net of income tax | 534 | 226 |
| Remeasurement of defined benefit obligations net for income tax | 23 | 13 |
| **Balances at the end of the period** | **(1330244)** | **(1319179)** |

---

*Corporación América Airports S.A. Unaudited Condensed Consolidated Interim Financial Statements for the three-month period ended March 31, 2026 and 2025 (amounts in thousands of U.S. dollars except share data or as otherwise indicated).*

**15 Contingencies, commitments and restrictions on the distribution of profits**

***a. Contingencies***

CAAP and its subsidiaries are, from time to time, subject to various claims, lawsuits and other legal proceedings, including customer claims, in which third parties are seeking payment for alleged damages, reimbursement for losses or indemnity. Some of these claims, lawsuits and other legal proceedings are subject to substantial uncertainties. Accordingly, the potential liability with respect to such claims, lawsuits and other legal proceedings cannot be estimated with certainty. Management, with the assistance of legal counsel, periodically reviews the status of each significant matter and assesses potential financial exposure. If a potential loss from a claim, lawsuit or proceeding is considered probable and the amount can be reasonably estimated, a provision is recorded. Accruals for loss contingencies reflect a reasonable estimate of the losses to be incurred based on information available to management as of the date of preparation of the financial statements and take into consideration the Group's litigation and settlement strategies.

The Group believes that the aggregate provisions recorded for losses in these Condensed Consolidated Interim Financial Statements are adequate based upon currently available information.

*CAER – Tax proceedings*

A tax-related claim has been initiated against CAER concerning interest assessed on the advance payment of Corporate Income Tax for fiscal year 2024. Following a review of the information and filings submitted by CAER, in March 2026, the Argentinean tax authority claimed payment of the interests. CAER is currently assessing the appropriate course of action in connection with this matter. The amount currently claimed is approximately ARS 596.4 million (equivalent to USD 0.4 million).

There are no other lawsuits or legal proceedings additional to the ones included in the Consolidated Financial

Statements for the year ended December 31, 2025.

***b. Commitments***

*ECOGAL Concession Agreement*

On January 15, 2026, ECOGAL and the National civil aviation authority executed an addendum to the concession agreement for Seymour Airport, located on Baltra Island, Galápagos, Ecuador. The addendum provides for the rebalancing of the economic and financial equilibrium of the concession agreement, which had been adversely affected by the COVID-19 pandemic, extending the concession by six years through December 31, 2032. Further key changes to the concession agreement are detailed in Note 33 to the Consolidated Financial Statements for the year ended December 31, 2025.

*Armenian Concession Agreement*

On January 23, 2026, an amendment agreement with the GOA to amend certain terms of the existing concession agreement of December 17, 2001, was signed, extending the concession by thirty-five years through December 31, 2067 and foreseeing a CAPEX plan of USD 425 million. Further key changes to the concession agreement are detailed in Note 33 to the Consolidated Financial Statements for the year ended December 31, 2025.

*CAAP – Award agreement to operate Baghdad International Airport in Iraq*

On March 12, 2026, a standby letter of credit issued by Citi Bank, totaling USD 2.1 million, was provided in order to replace the existing counter-guarantee related to this airport concession tender (refer to Note 26.b of the Consolidated Financial Statements for the year ended December 31, 2025). This guarantee will remain in full force until December 1, 2026.

*Corporación América Airports S.A. Unaudited Condensed Consolidated Interim Financial Statements for the three-month period ended March 31, 2026 and 2025 (amounts in thousands of U.S. dollars except share data or as otherwise indicated).*

**15 Contingencies, commitments and restrictions on the distribution of profits (Cont.)**

***a. Contingencies (Cont.)***

***c. Restrictions to the distribution of profits and payment of dividends***

As of March 31, 2026 and December 31, 2025, equity as defined under Lux GAAP consisted of:

---

| | | |
|:---|:---|:---|
|  | **At March 31, 2026** | **At December 31, 2025** |
| Share capital | 165219 | 165219 |
| Share premium | 221434 | 221434 |
| Reserve for own shares | 3918 | 3918 |
| Legal reserve | 10017 | 10017 |
| Free distributable reserves | 378910 | 378910 |
| Non-distributable reserves | 1354109 | 1354109 |
| Retained earnings | 315088 | 187460 |
| **Total equity in accordance with Luxembourg law** | **2448695** | **2321067** |

---

At least 5% of the Company's net income per year, as calculated in accordance with Luxembourg law and regulations, must be allocated to a legal reserve equivalent to 10% of the Company's share capital. Dividends may not be paid out of the legal reserve.

The Company may pay dividends to the extent, among other conditions, that it has distributable retained earnings calculated in accordance with Luxembourg laws and regulations.

**16 Related party balances and transactions**

CAAP is controlled by ACI Airports S.à r.l., which is controlled by CAI, previously denominated America Corporation International S.à r.l.), both of which are Luxembourg based companies.

CAI is controlled by SCF (CAAP's ultimate parent company), a foundation created under the laws of Liechtenstein, having its corporate domicile in Vaduz. The foundation's purpose is to manage its assets through the decisions adopted by its independent board of directors. The potential beneficiaries of this foundation are members of the Eurnekian family and religious, charitable and educational institutions.

Transactions and balances with "Associates" are those carried out with entities over which CAAP exerts significant influence in accordance with IFRS but does not have control. Transactions and balances with related parties, which are not associates and are not consolidated are disclosed as "Other related parties".

The Group receives services from related parties, such as internal audit, management control, financial assistance, technology outsourcing services and construction services.

*Corporación América Airports S.A. Unaudited Condensed Consolidated Interim Financial Statements for the three-month period ended March 31, 2026 and 2025 (amounts in thousands of U.S. dollars except share data or as otherwise indicated).*

**16 Related party balances and transactions (Cont.)**

Summary of balances with related parties are:

---

| | | |
|:---|:---|:---|
|  | **At March 31, 2026** | **At December 31, 2025** |
| **Period-end balances** |  |  |
| **(a) Arising from sales / purchases of goods / other** |  |  |
| Trade receivables with associates | 1833 | 1480 |
| Trade receivables with other related parties | 1601 | 1913 |
| Other receivables with associates | 1354 | 2238 |
| Other receivables with other related parties | 9292 | 9478 |
| Other financial assets with associates | 2446 | 2408 |
| Other financial assets with other related parties <sup>(1)</sup> | 70240 | 69729 |
| Trade payables to associates | (3851) | (4078) |
| Trade payables to other related parties | (5544) | (4184) |
|  | **77371** | **78984** |

---

---

| | | |
|:---|:---|:---|
| **(b) Other liabilities** | | |
| Other liabilities to associates <sup>(2)</sup> | (12289) | (12651) |
| Other liabilities to other related parties | (2716) | (1169) |
|  | **(15005)** | **(13820)** |
| **(c) Other balances** |  |  |
| Cash and cash equivalents placed with other related parties | 34939 | 28142 |
|  | **34939** | **28142** |

---

<sup>(1)</sup> As of March 31, 2026, mainly includes a loan and time deposits to other related parties amounting to USD 16.7 million and USD 50.0 million respectively (USD 16.7 million and USD 50.0 million respectively as of December 31, 2025).

As of March 31, 2026, the loan denominated in USD accrues interest at a fixed annual rate of 8.0% and matures in December 2026.

Time deposits with related parties include the following deposits in Converse Bank as of March 31, 2026 and December 31, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Contract date** | **Maturity date** | **Interest rate** | **Contract <br> currency** | **Contract amount<br> (In million of USD)** |
| Jan-24 | Jan-27 | 5.00% | USD | 10.0 |
| Feb-25 | Feb-28 | 5.00% | USD | 20.0 |
| Jul-25 | Jul-28 | 4.75% | USD | 10.0 |
| Aug -25 | Aug-28 | 5.00% | USD | 5.0 |
| Aug -25 | Aug -28 | 10.50% | DRAM | 5.0 |
| **Total** |  |  |  | **50.0** |

---

The Group´s investments reported in Other financial assets with related parties are considered to be low-risk investments. The credit ratings of the issuers are monitored for credit deterioration. The Group has not experienced significant losses from those assets.

*Corporación América Airports S.A. Unaudited Condensed Consolidated Interim Financial Statements for the three-month period ended March 31, 2026 and 2025 (amounts in thousands of U.S. dollars except share data or as otherwise indicated).*

**16 Related party balances and transactions (Cont.)**

<sup>(2)</sup> Includes deferred income from associates.

Summary of transactions with related parties are:

---

| | | |
|:---|:---|:---|
|  | **For the three-month period ended March 31,** | **For the three-month period ended March 31,** |
|  | **2026** | **2025** |
| **Transactions** |  |  |
| Aeronautical/Commercial revenue | 7419 | 6833 |
| Fees | (4027) | (3702) |
| Interest accruals | 803 | 792 |
| Acquisition of goods and services | (10321) | (8808) |
| Compensation to the Group's key staff | (2076) | (1272) |
| Others | (1538) | (793) |

---

The Group leases buildings to other related parties which are recognized under the scope of IFRS 16 and accounted in *Lease liabilities* line for an amount of USD 2,577 as of March 31, 2026 (USD 3,470 as of December 31, 2025). Additionally, the Group has variable equipment leases with other related parties that are excluded from the lease liability according to IFRS 16. Transactions related to those leases are included in *Acquisition of goods and services* line for an amount of USD 1,296 as of March 31, 2026 (USD 1,569 as of March 31, 2025).

As mentioned in Note 12, certain guarantees related to financial liabilities have been received from PDS's Chairman for an amount of USD 0.6 million.

**17 Cash flow disclosures**

---

| | | |
|:---|:---|:---|
|  | **For the three-month period ended March 31,** | **For the three-month period ended March 31,** |
|  | **2026** | **2025** |
| **Changes in working capital** |  |  |
| Other receivables and credits | 19402 | 356 |
| Inventories | (2538) | (1134) |
| Other liabilities | (78793) | (64510) |
|  | **(61929)** | **(65288)** |

---

The most significant non-cash transactions are detailed below:

---

| | | |
|:---|:---|:---|
|  | **For the three-month period ended March 31,** | **For the three-month period ended March 31,** |
|  | **2026** | **2025** |
| Intangible assets increase with an increase in Other liabilities / Borrowings / Lease liabilities | (153) | 832 |
| Property, plant and equipment acquisition with an increase in Other liabilities | (456) | (1349) |
| Right-of-use asset initial recognition with an increase in Lease liabilities | (5) | (198) |
| Dividends declared pending payment | (11195) |  |
| Income tax paid with tax certificates | (922) | (121) |

---

*Corporación América Airports S.A. Unaudited Condensed Consolidated Interim Financial Statements for the three-month period ended March 31, 2026 and 2025 (amounts in thousands of U.S. dollars except share data or as otherwise indicated).*

**18 Fair value measurement of financial instruments**

According to the classification included in Note 3.B of the Consolidated Financial Statements for the year ended December 31, 2025, the Group categorizes its financial instruments as assets and liabilities at amortized cost and fair value through profit or loss.

For the majority of instruments recorded at amortized cost, the fair values are not materially different from their carrying amounts, since the interest receivable/payable is either close to current market rates or the instruments are short-term in nature. Significant differences were identified for the following instruments at March 31, 2026:

---

| | | |
|:---|:---|:---|
|  | **Fair value** | **Carrying amount** |
| Trust funds <sup>(1)</sup> | 53721 | 49398 |
| Long-term borrowings <sup>(2)</sup> | 890522 | 936896 |

---

<sup>(1)</sup> It is included in the Other receivables line of the Condensed Consolidated Interim Statement of Financial Position. The fair value of these financial assets was calculated using a discounted cash flow method (Level 3).

<sup>(2)</sup> Valuation at quotation prices not adjusted in active markets for identical liabilities included Fair Value Level 2 under IFRS 13 hierarchy. There are no financial liabilities measured at fair value through other comprehensive income nor through profit or loss except for the fair value derivative disclosed in note 19, which is also valuated through calculations under Level 2 and Level 3 hierarchy.

Other financial assets measured at fair value through profit or loss are included in Level 1 as defined in

IFRS 13 and comprise primarily government securities, mutual funds and corporate bonds.

**19 Financial risk factors**

*a)* *Impact of conflict between Iran, Israel and United States* 

The escalation of conflicts between Iran, Israel and United States is disrupting international travel in the Middle East. It is likely that this war will continue to disrupt supply chains, cause instability in the global economy and disrupt international travel affecting countries generally served by the Company, mainly Armenia.

During the first three months of the year and till the issuance of these Condensed Consolidated Interim Financial Statements, there was no material impact on the operations of the airports operated by the Group. However, given the uncertainty of the extension of the war and the additional measures and sanctions that could be imposed, the full extent of the impact on the Company's business, results of operations, financial position and liquidity is unknown. The Company continues to closely monitor the situation.

*b)* *Argentina economical context* 

As stated in Note 3A of the Consolidated Financial Statements for the year ended December 31, 2025, CAAP's Argentine subsidiaries are operating in an economic context in which main variables have a strong volatility as a consequence of political and economic uncertainties. The estimated inflation rate for the three-month period ended March 31, 2026 was 9.0%, while there was an appreciation of Argentinean pesos against the US Dollars in the same period of 5.0%.

*Corporación América Airports S.A. Unaudited Condensed Consolidated Interim Financial Statements for the three-month period ended March 31, 2026 and 2025 (amounts in thousands of U.S. dollars except share data or as otherwise indicated).*

**19 Financial risk factors (Cont.)**

*c)* *Interest rate risk* 

The Group's interest rate risk principally arises from long-term borrowings (Note 12). Borrowings issued at variable rates expose the Group to the risk that the actual cash flows differ from those expected. Borrowings issued at fixed rates expose the Group to the risk that the fair values of these differ from those expected. The Group manages this risk by maintaining an appropriate mix between fixed and floating rate interest bearing liabilities.

These activities are evaluated regularly to determine that the Group is not exposed to interest rate movements that could adversely impact its ability to meet its financial obligations and to comply with its borrowing covenants.

The following table shows a breakdown of the Group's fixed-rate and floating-rate borrowings:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **At March 31, 2026** | **At March 31, 2026** | **At December 31, 2025** | **At December 31, 2025** |
| Fixed rate (\*) |  | 788977 |  | 804256 |
| Variable rate | | 296,371 | | 290,962 |
|  | | **1,085,348** | | **1,095,218** |

---

(\*) As of March 31, 2026, includes USD 126.4 million of short-term borrowings (USD 120.5 million as of December 2025) and USD 662.6 million of long-term borrowings (USD 683.8 million as of December 31, 2025).

As stated in Note 3.A of the Consolidated Financial Statements for the year ended December 31, 2025, in July 2024, TA entered into interest rate swaps agreements with each Lender aiming to mitigate the exposure to the interest rate fluctuations (Euribor) affecting cash flows, establishing a fixed interest rate of 3.02% over the principal amount already drawn, effective until June 30, 2030. The notional amount being hedged corresponds to 100% of the principal drawn (EUR 82.8 million) for the semi-annual interest payments until June 30, 2027, while for the interest payments from December 31, 2027 to June 30, 2030 it covers a 75% of that principal.

As of March 31, 2026, the fair value of the derivatives stands at EUR 0.9 million (equivalent to USD 1.0 million) (EUR 1.8 million, equivalent to USD 2.2 million as of December 31, 2025), which, net of deferred tax, impacts Other Comprehensive Income by EUR 0.7 million (equivalent to USD 0.9 million) (EUR 0.5 million, equivalent to USD 0.5 million as of March 31, 2025).

*Corporación América Airports S.A. Unaudited Condensed Consolidated Interim Financial Statements for the three-month period ended March 31, 2026 and 2025 (amounts in thousands of U.S. dollars except share data or as otherwise indicated).*

**20 Subsequent events**

*Other commitments*

As stated in Note 26.b of the Consolidated Financial Statements for the year ended December 31, 2025, UniCredit Bank issued a EUR 1.2 million guarantee (USD 1.4 million equivalent) in favor of CAAP in connection with an airport concession tender. On April 27, 2026, the guarantee has been extended through August 9, 2027.

*Disposal of subsidiary - CAER*

On May 4, 2026, CAAP completed the sale of its equity interest in CAER, resulting in the loss of control over the subsidiary, for consideration amounting to USD 720, of which USD 220 has been already collected and the remaining USD 500 is expected to be collected no later than June 10, 2026.

As part of the sale agreement, CAAP has agreed to assume the exposure, in the event of an adverse outcome, related to the tax proceedings described in Note 15.a of these Condensed Consolidated Interim Financial Statements.

*CAAP - Annual General Shareholders Meeting*

On May 13, 2026, CAAP held its Annual General Meeting of Shareholders in Luxembourg, where the shareholders approved the Company's financial statements as of December 31, 2025 and resolved to allocate USD 5,198, representing 5% of the profit generated during the 2025 financial year, to legal reserve. Luxembourg law requires this allocation until legal reserve equals 10% of the Company´s share capital.

*Corporación América Airports S.A. Unaudited Condensed Consolidated Interim Financial Statements for the three-month period ended March 31, 2026 and 2025 (amounts in thousands of U.S. dollars except share data or as otherwise indicated).*

**Glossary**

---

| | |
|:---|:---|
| **Term** | **Definition** |
| USD | U.S. Dollars |
| R$ | Brazilian Reales |
| ARS | Argentine Peso |
| DRAM | Armenian Dram |
| EUR | Euro |
| AA2000 | Aeropuertos Argentina 2000 S.A. |
| ACI | ACI Airport Sudamérica S.A.U. |
| Adjusted EBITDA | Net income before financial income, financial loss, inflation adjustment, income tax expense, depreciation and amortization |
| Adjusted EBITDA excluding construction services | Net income before construction services revenue, financial income, construction services cost, financial loss, inflation adjustment, income tax expense, depreciation and amortization. |
| BROU | Banco de la República Oriental del Uruguay |
| CAAP | Corporación América Airports S.A. |
| CAER | Corporación Aeroportuaria S.A. |
| CAI | Corporación América International S.à r.l |
| CAISA | Consorcio Aeropuertos Internacionales S.A. |
| CGU | Cash-generating unit |
| Company | Corporación América Airports S.A. |
| EBITDA | Earnings before interest, taxes, depreciation and amortization |
| GOA | Government of Armenia |
| Group | The Company and its operating subsidiaries |
| IAS | International Accounting Standards |
| IASB | International Accounting Standards Board |
| ICAB | Inframérica Concessionária do Aeroporto de Brasilia S.A. |
| IFRIC | IFRS Accounting Standards interpretations |
| IFRS | IFRS Accounting Standards |
| IPCA | Brazilian Consumer Price index |
| Lux GAAP | Luxembourg laws and regulations |
| MULC | Mercado Único y Libre de Cambios |
| NYSE | New York Stock Exchange |
| OCI | Other comprehensive income |
| PDS | Puerta del Sur S.A. |
| SCF | Southern Cone Foundation |
| TA | Toscana Aeroporti S.p.A. |
| TJLP | Taxa de Juros de Longo Prazo (Brazilian Long term interest rate) |

---