# EDGAR Filing Document

**Accession Number:** 0001717393
**File Stem:** 0001104659-25-115195
**Filing Date:** 2025-11
**Character Count:** 116813
**Document Hash:** f6bd25dc7824d3a89bcf5ee1d4d3e302
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-115195.hdr.sgml**: 20251124

**ACCESSION NUMBER**: 0001104659-25-115195

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251124

**DATE AS OF CHANGE**: 20251124

**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:** 251509753

**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 November, 2025

Commission File Number: 333-221916

**Corporación América Airports S.A.**

(Name of Registrant)

**128, Boulevard de la Pétrusse<br> L-2330, Luxembourg<br> Grand Duchy of Luxembourg<br> Tel: +35226258274<br> Fax: +35226259776**<br> (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 AND <br> NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2025 AND 2024

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 and nine-month period ended September 30, 2025 and 2024 (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, 2024, 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](tm2531582d1_ex99-1.htm) | [CAAP Unaudited Condensed Consolidated Interim Financial Statements for the three and nine-month period ended September 30, 2025 and 2024](tm2531582d1_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 | Name: Andres Zenarruza |
| Title: Head of Legal and Compliance | Title: Head of Legal and Compliance |
| By: | /s/ Jorge Arruda |
| Name: Jorge Arruda | Name: Jorge Arruda |
| Title: Chief Financial Officer | Title: Chief Financial Officer |

---

Date: November 24, 2025

## Exhibit 99.1

**Exhibit 99.1**

*Corporación América Airports S.A. Unaudited Condensed Consolidated Interim Financial Statements for the three and nine-month period ended September 30, 2025 and 2024 (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 and nine-month period ended September 30, 2025 and 2024**

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 and nine-month period ended September 30, 2025 and 2024 (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<br> September 30,** | **For the three-month period ended<br> September 30,** | **For the nine-month period <br> ended September 30,** | **For the nine-month period <br> ended September 30,** |
|  |<br>**Notes** | **2025** | **2024** | **2025** | **2024** |
| Revenue | **4** | 527272 | 461809 | 1399522 | 1369855 |
| Cost of services | **5** | (330093) | (319845) | (897163) | (910519) |
| **Gross profit** |  | **197179** | **141964** | **502359** | **459336** |
| Selling, general and administrative expenses | **6** | (56465) | (47111) | (158406) | (140174) |
| Impairment loss of non-financial assets |  | (166) |  | (166) |  |
| Other operating income | **7** | 9535 | 7702 | 22202 | 22517 |
| Other operating expenses |  | (3136) | (1616) | (9802) | (5645) |
| **Operating income** |  | **146947** | **100939** | **356187** | **336034** |
| Share of loss in associates |  | (987) | (562) | (2143) | (829) |
| **Income before financial results and income tax** |  | **145960** | **100377** | **354044** | **335205** |
| Financial income | **8** | 20231 | 15921 | 47698 | 55070 |
| Financial loss | **8** | (86194) | (31849) | (197081) | 153118 |
| Inflation adjustment | **8** | (1040) | (3152) | (5694) | (20878) |
| **Income before income tax** |  | **78957** | **81297** | **198967** | **522515** |
| Income tax | **9** | (20231) | (80636) | (58722) | (261587) |
| **Income for the period** |  | **58726** | **661** | **140245** | **260928** |
| **Attributable to:** |  |  |  |  |  |
| Owners of the parent |  | 55052 | 14675 | 139985 | 244893 |
| Non-controlling interests |  | 3674 | (14014) | 260 | 16035 |
|  |  | **58726** | **661** | **140245** | **260928** |
| <br>**Earnings per share for profit attributable to the ordinary equity holders of the Group:** |  |  |  |  |  |
| Basic earnings per share |  | 0.34 | 0.09 | 0.86 | 1.52 |
| Diluted earnings per share |  | 0.34 | 0.09 | 0.86 | 1.52 |

---

**CONDENSED CONSOLIDATED INTERIM STATEMENT OF COMPREHENSIVE INCOME**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the three-month period<br> ended September 30,** | **For the three-month period<br> ended September 30,** | **For the nine-month period <br> ended September 30,** | **For the nine-month period <br> ended September 30,** |
|  | **2025** | **2024** | **2025** | **2024** |
| **Income for the period** | **58726** | **661** | **140245** | **260928** |
| **Items that will not be reclassified to loss or profit:** |  |  |  |  |
| Remeasurements of defined benefit obligations | 32 | (28) | 153 | 63 |
| **Items that may be reclassified to profit or loss:** |  |  |  |  |
| Changes in the fair value of the instruments used to/from hedge cash flows | 366 | (2630) | 595 | (2630) |
| Income tax impact of the instruments used to/from hedge cash flows | (88) | 631 | (143) | 631 |
| Share of other comprehensive income from associates | 319 | 39 | 80 | 69 |
| Currency translation adjustment | (100200) | 55147 | (118875) | 429253 |
| **Other comprehensive (loss)/income for the period, net of income tax** | **(99571)** | **53159** | **(118190)** | **427386** |
| **Total comprehensive (loss)/income for the period** | **(40845)** | **53820** | **22055** | **688314** |
| **Attributable to:** |  |  |  |  |
| Owners of the parent | (25860) | 58030 | 51539 | 589086 |
| Non-controlling interests | (14985) | (4210) | (29484) | 99228 |
|  | **(40845)** | **53820** | **22055** | **688314** |

---

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, 2024.

*Corporación América Airports S.A. Unaudited Condensed Consolidated Interim Financial Statements for the three and nine-month period ended September 30, 2025 and 2024 (amounts in thousands of U.S. dollars except share data or as otherwise indicated).*

**CONDENSED cONSOLIDATED INTERIM STATEMENT OF FINANCIAL POSITION**

---

| | | | |
|:---|:---|:---|:---|
|  | **Notes** | **At September 30, 2025** | **At December 31, 2024** |
| **ASSETS** |  |  |  |
| **Non-current assets** |  |  |  |
| &nbsp;&nbsp;&nbsp;Intangible assets, net | **10** | 3090019 | 3155448 |
| &nbsp;&nbsp;&nbsp;Property, plant and equipment, net |  | 83745 | 77801 |
| &nbsp;&nbsp;&nbsp;Right-of-use asset |  | 9814 | 9921 |
| &nbsp;&nbsp;&nbsp;Investments in associates |  | 9782 | 11746 |
| &nbsp;&nbsp;&nbsp;Other financial assets at fair value through profit or loss |  | 5044 | 4237 |
| &nbsp;&nbsp;&nbsp;Other financial assets at amortized cost |  | 100868 | 84618 |
| &nbsp;&nbsp;&nbsp;Deferred tax assets |  | 12629 | 13372 |
| &nbsp;&nbsp;&nbsp;Inventories |  | 316 | 314 |
| &nbsp;&nbsp;&nbsp;Other receivables |  | 59770 | 58461 |
| &nbsp;&nbsp;&nbsp;Trade receivables |  | 11 | 18 |
|  |  | **3371998** | **3415936** |
| **Current assets** |  |  |  |
| &nbsp;&nbsp;&nbsp;Inventories |  | 14886 | 11410 |
| &nbsp;&nbsp;&nbsp;Other financial assets at fair value through profit or loss |  | 2589 | 3129 |
| &nbsp;&nbsp;&nbsp;Other financial assets at amortized cost |  | 117978 | 82923 |
| &nbsp;&nbsp;&nbsp;Other receivables |  | 62772 | 63156 |
| &nbsp;&nbsp;&nbsp;Current tax assets |  | 7094 | 7366 |
| &nbsp;&nbsp;&nbsp;Trade receivables |  | 176832 | 157546 |
| &nbsp;&nbsp;&nbsp;Cash and cash equivalents | **11** | 540388 | 439847 |
|  |  | **922539** | **765377** |
| &nbsp;&nbsp;&nbsp;Assets classified as held for sale |  | 137 | 137 |
|  |  | **922676** | **765514** |
| **Total assets** |  | **4294674** | **4181450** |
| **EQUITY** | **14** |  |  |
| &nbsp;&nbsp;&nbsp;Share capital |  | 165219 | 163223 |
| &nbsp;&nbsp;&nbsp;Share premium |  | 221434 | 183430 |
| &nbsp;&nbsp;&nbsp;Treasury shares |  | (4035) | (4094) |
| &nbsp;&nbsp;&nbsp;Free distributable reserve |  | 378910 | 378910 |
| &nbsp;&nbsp;&nbsp;Non-distributable reserve |  | 1358028 | 1358028 |
| &nbsp;&nbsp;&nbsp;Currency translation adjustment |  | (205195) | (116471) |
| &nbsp;&nbsp;&nbsp;Legal reserves |  | 10017 | 7419 |
| &nbsp;&nbsp;&nbsp;Other reserves |  | (1334984) | (1319682) |
| &nbsp;&nbsp;&nbsp;Retained earnings |  | 856254 | 718511 |
| **Total attributable to owners of the parent** |  | **1445648** | **1369274** |
| &nbsp;&nbsp;&nbsp;Non-controlling interests |  | 56851 | 148686 |
| **Total equity** |  | **1502499** | **1517960** |
| **LIABILITIES** |  |  |  |
| **Non-current liabilities** |  |  |  |
| &nbsp;&nbsp;&nbsp;Borrowings | **12** | 1018285 | 1042704 |
| &nbsp;&nbsp;&nbsp;Derivative financial instruments liabilities |  | 2137 | 3351 |
| &nbsp;&nbsp;&nbsp;Deferred tax liabilities |  | 386332 | 383369 |
| &nbsp;&nbsp;&nbsp;Other liabilities | **13** | 776081 | 621412 |
| &nbsp;&nbsp;&nbsp;Lease liabilities |  | 5904 | 7010 |
| &nbsp;&nbsp;&nbsp;Trade payables |  | 1760 | 1914 |
|  |  | **2190499** | **2059760** |
| &nbsp;&nbsp;&nbsp;**Current liabilities** |  |  |  |
| &nbsp;&nbsp;&nbsp;Borrowings | **12** | 101177 | 115367 |
| &nbsp;&nbsp;&nbsp;Other liabilities | **13** | 355739 | 348586 |
| &nbsp;&nbsp;&nbsp;Lease liabilities |  | 4872 | 3707 |
| &nbsp;&nbsp;&nbsp;Derivative financial instruments liabilities |  | 994 |  |
| &nbsp;&nbsp;&nbsp;Current tax liabilities |  | 23509 | 15307 |
| &nbsp;&nbsp;&nbsp;Trade payables |  | 115385 | 120763 |
|  |  | **601676** | **603730** |
| **Total liabilities** |  | **2792175** | **2663490** |
| **Total equity and liabilities** |  | **4294674** | **4181450** |

---

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, 2024.

*Corporación América Airports S.A. Unaudited Condensed Consolidated Interim Financial Statements for the three and nine-month period ended September 30, 2025 and 2024 (amounts in thousands of U.S. dollars except share data or as otherwise indicated).*

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

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Attributable to owners of the parent** | **Attributable to owners of the parent** | **Attributable to owners of the parent** | **Attributable to owners of the parent** | **Attributable to owners of the parent** | **Attributable to owners of the parent** | **Attributable to owners of the parent** | **Attributable to owners of the parent** | **Attributable to owners of the parent** | **Attributable to owners of the parent** | | |
|  | **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** | <br>**Non-<br> controlling<br> interests** | <br>**Total** |
| **Balance at January 1, 2025** | **163223** | **183430** | **(4094)** | **378910** | **1358028** | **7419** | **(116471)** | **(1319682)** | **718511** | **1369274** | **148686** | **1517960** |
| Income for the period |  |  |  |  |  |  |  |  | 139985 | 139985 | 260 | 140245 |
| Other comprehensive income / (loss) for the period |  |  |  |  |  |  | (88724) | 278 |  | (88446) | (29744) | (118190) |
| Share-based payments reserve (Note 14.a and 14.c) |  |  | 59 |  |  |  |  | 274 | 356 | 689 |  | 689 |
| Transfer to legal reserve (Note 15.c) |  |  |  |  |  | 2598 |  |  | (2598) |  |  |  |
| Dividends to non-controlling interests |  |  |  |  |  |  |  |  |  |  | (38205) | (38205) |
| Acquisition of non-controlling interests through issuance of shares (Note 14.a, 14.c and 14.d) | 1996 | 38004 | - | - | - | - | - | (15854) | - | 24146 | (24146) | - |
| **Balance at September 30, 2025** | **165219** | **221434** | **(4035)** | **378910** | **1358028** | **10017** | **(205195)** | **(1334984)** | **856254** | **1445648** | **56851** | **1502499** |
| **Balance at January 1, 2024** | **163223** | **183430** | **(4322)** | **378910** | **1358028** | **3676** | **(482852)** | **(1313888)** | **438775** | **724980** | **78929** | **803909** |
| Income for the period |  |  |  |  |  |  |  |  | 244893 | 244893 | 16035 | 260928 |
| Other comprehensive income / (loss) for the period |  |  |  |  |  |  | 345074 | (881) |  | 344193 | 83193 | 427386 |
| Share-based payments reserve (Note 14.a and 14.c) |  |  | 228 |  |  |  |  | (160) | 805 | 873 |  | 873 |
| Transfer to legal reserve |  |  |  |  |  | 3743 |  |  | (3743) |  |  |  |
| Dividends to non-controlling interests |  |  |  |  |  |  |  |  |  |  | (14942) | (14942) |
| Other changes in non-controlling interests | - | - | - | - | - | - | - | - | - | - | (8) | (8) |
| **Balance at September 30, 2024** | **163223** | **183430** | **(4094)** | **378910** | **1358028** | **7419** | **(137778)** | **(1314929)** | **680730** | **1314939** | **163207** | **1478146** |

---

<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, 2024.

*Corporación América Airports S.A. Unaudited Condensed Consolidated Interim Financial Statements for the three and nine-month period ended September 30, 2025 and 2024 (amounts in thousands of U.S. dollars except share data or as otherwise indicated).*

**CONDENSED CONSOLIDATED INTERIM STATEMENT OF CASH FLOWS**

---

| | | | |
|:---|:---|:---|:---|
|  | | **For the nine-month period ended September 30,** | **For the nine-month period ended September 30,** |
|  |<br>**Notes** | **2025** | **2024** |
| **Cash flows from operating activities** |  |  |  |
| Income for the period |  | **140245** | **260928** |
| **Adjustments for:** |  |  |  |
| Amortization and depreciation |  | 167690 | 149806 |
| Deferred income tax | **9** | 21554 | 238140 |
| Current income tax | **9** | 37168 | 23447 |
| Impairment loss of non-financial assets |  | 166 |  |
| Share of loss in associates |  | 2143 | 829 |
| Loss on disposals of property, plant and equipment |  | 597 | 229 |
| Gain on disposal of subsidiaries |  |  | (521) |
| Low value, short term and variable lease payments |  | (1337) | (931) |
| Share based compensation expenses |  | 689 | 873 |
| Interest expenses | **8** | 66973 | 81087 |
| Other financial results, net |  | (8554) | (16196) |
| Net foreign exchange | **8** | 43098 | (308300) |
| Government subsidies per Covid-19 context | **7** | (720) | (79) |
| Other accruals |  | (397) | (3260) |
| Inflation adjustment |  | (3846) | (1690) |
| Acquisition of intangible assets |  | (131468) | (152528) |
| Income tax paid |  | (27158) | (32002) |
| Collection due to concession compensation (\*) |  |  | 90609 |
| Unpaid concession fees |  | 46153 | 46045 |
| Changes in liability for concessions | **8** | 65022 | 66369 |
| Changes in working capital | **17** | (83530) | (73045) |
| **Net cash provided by operating activities** |  | **334488** | **369810** |
| **Cash flows from investing activities** |  |  |  |
| Cash contribution in associates |  | (380) | (293) |
| Acquisition of other financial assets |  | (148513) | (123299) |
| Disposals of other financial assets |  | 100468 | 106800 |
| Acquisition of property, plant and equipment |  | (10705) | (7148) |
| Acquisition of intangible assets |  | (1283) | (1082) |
| Proceeds from property, plant and equipment |  | 169 | 16 |
| Net cash inflow on disposal of subsidiaries |  | 292 | (413) |
| Other |  | 2993 | (466) |
| **Net cash used in investing activities** |  | **(56959)** | **(25885)** |
| <br>**Cash flows from financing activities** |  |  |  |
| Loans obtained | **12** | 11414 | 141733 |
| Guarantee deposits |  | (376) | 282 |
| Principal elements of lease payments |  | (3336) | (3352) |
| Loans repaid | **12** | (94388) | (234153) |
| Interest paid | **12** | (53472) | (67026) |
| Debt renegotiation expenses | **12** | (193) | (2236) |
| Dividends paid to non-controlling interests in subsidiaries |  | (43234) | (14942) |
| **Net cash used in financing activities** |  | **(183585)** | **(179694)** |
| **Increase in cash and cash equivalents from continuing operations** |  | **93944** | **164231** |
| <br>**Movements in cash and cash equivalents** |  |  |  |
| At the beginning of the period |  | 439847 | 369848 |
| Effects of exchange rate changes and inflation adjustment on cash and cash equivalents |  | 6597 | (23194) |
| Increase in cash and cash equivalents from continuing operations |  | 93944 | 164231 |
| **At the end of the period** | **11** | **540388** | **510885** |

---

---

| |
|:---|
| <sup>(\*)</sup> Corresponds to the net indemnification collected regarding the re-bidding of the International Airport of São Gonçalo do Amarante (Natal Airport) detailed in Note 26.b of the Consolidated Financial Statements for the year ended December 31, 2024.<br>|
| 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, 2024. |

---

*Corporación América Airports S.A. Unaudited Condensed Consolidated Interim Financial Statements for the three and nine-month period ended September 30, 2025 and 2024 (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 and nine-month period ended September 30, 2025 and 2024 (amounts in thousands of U.S. dollars except share data or as otherwise indicated).*

---

| | |
|:---|:---|
| **1** | **General information** |

---

Corporación América Airports S.A. (the "Company" or "CAAP") is a holding company primarily engaged through its operating subsidiaries in the acquisition, development and operation of airport concessions. The Company and its operating subsidiaries are collectively referred to hereinafter as the "Group".

The Company's shares trade on the New York Stock Exchange ("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 Southern Cone Foundation ("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 as of December 31, 2024. Additionally, on May 28, 2025, CAAP entered into a transaction agreement whereby: (i) Dicasa S.A., a wholly-owned subsidiary of CAAP, acquired shares representing 25% of the capital interest in Corporación América Italia S.p.A. ("CAI") and (ii) as consideration of the acquisition, CAAP delivered 1,996,439 newly issued shares to the seller (the "CAAP Shares"). Therefore, as of September 30, 2025, CAAP indirectly owns 100% of CAI and 62.28% of Toscana Aeroporti S.p.A. ("TA").

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 November 21, 2025.

---

| | |
|:---|:---|
| **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, 2024. 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, 2024, 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 Condensed Consolidated Interim Financial Statements in accordance with IFRS requires management to make certain accounting estimates and assumptions that might affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the reporting dates, and the reported amounts of revenues and expenses during the reporting years. Actual results may differ from these estimates.

In the preparation of these Condensed Consolidated Interim Financial Statements, the significant areas of judgment by management in the application of the Group's accounting policies and the main areas of assumptions and estimates are consistent with those applied in the Consolidated Financial Statements for the year ended December 31, 2024.

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

*Corporación América Airports S.A. Unaudited Condensed Consolidated Interim Financial Statements for the three and nine-month period ended September 30, 2025 and 2024 (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.)**

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, 2024.

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

IAS 29 "Financial Reporting in Hyperinflationary Economies" requires that the financial statements of entities whose functional currency is that of a hyperinflationary economy to be adjusted for the effects of changes in a suitable general price index and to be expressed in terms of the current unit of measurement at the closing date of the reporting period, regardless of whether they are based on the historical cost method or the current cost method. Accordingly, the inflation produced from the date of acquisition or from the revaluation date, as applicable, must be computed in the non-monetary items.

Under the terms of IAS 29, the Group understands that there is sufficient evidence to conclude that Argentina is a hyperinflationary economy for accounting purposes as from July 1, 2018, and, accordingly, it has applied IAS 29 as from that date in the financial reporting of its subsidiaries and associates with the Argentine peso as functional currency. The estimated price index as of September 30, 2025, was 9,386.30 (7,694.01 as of December 31, 2024) and the conversion factor derived from the indexes for the nine-month period ended September 30, 2025, was 1.22 (2.02 for the nine-month period ended September 30, 2024).

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. The inflation adjustment and the translation of comparative amounts in the current period is included in *Other comprehensive (loss)/income for the period* line.

All items in the Condensed Consolidated Interim Statement of Income and of Comprehensive Income for the nine-month period are restated by applying the relevant conversion factors at the end of the reporting period, as stated in Note 2.X of the Consolidated Financial Statements as of December 31, 2024. According to IAS 29, the three-month period results shown in these Condensed Consolidated Interim Financial Statements have been prepared considering the three-month period results of the subsidiaries in hyperinflationary economies in their functional currency translated into U.S dollars at the closing exchange rate, while prior reported quarterly Condensed Consolidated Interim Statement of Income and of Comprehensive Income in U.S. dollars remain unchanged.

**New and amended standards**

The following accounting standards and interpretations became applicable for the annual period commencing on or after January 1, 2025:

- Lack of exchangeability – Amendments to IAS 21.

The amendment 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 the application are not mandatory for reporting periods ending December 31, 2025 and have not been early adopted by the Group:

- Presentation and Disclosures in Financial Statements – IFRS 18.

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

The Group is currently assessing the impact these standards, amendments or interpretations will have on the current or future reporting periods and on foreseeable future transactions.

*Corporación América Airports S.A. Unaudited Condensed Consolidated Interim Financial Statements for the three and nine-month period ended September 30, 2025 and 2024 (amounts in thousands of U.S. dollars except share data or as otherwise indicated).*

---

| | |
|:---|:---|
| **3** | **Segment information** |

---

Operating segments are components of an enterprise where separate financial information is available that is evaluated regularly by the Chief Operating Decision Maker ("CODM"), or decision-making group, in deciding how to allocate resources and in assessing performance. The Group's chief operating decision maker is its Board of Directors. The Group's operating segments are managed separately because each operating segment represents a strategic business unit. 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.

Assets, liabilities and results of sub-holding and/or holding companies are not allocated and are reported within "Unallocated" in the reconciliation, which also includes head office and group services.

The elimination of any intersegment revenues and other significant intercompany operations are included in "Intrasegment Adjustments" within the reconciliation.

The information regarding the Group's reportable operating segments is consistent with the information presented in Notes 2.W and 4 included in our audited Consolidated Financial Statements for the year ended December 31, 2024, and should be read in conjunction with them.

The performance of each reportable segment is measured by its adjusted EBITDA, defined, with respect to each segment, as net income before financial income, financial loss, inflation adjustment, income tax expense, depreciation and amortization for such segment ("Adjusted EBITDA"). The Adjusted EBITDA does not exclude the amortization of the intangible asset related to the fixed fee payable to the corresponding governments for the operation of the airport concessions.

In addition, the CODM considers each reportable segment's Adjusted EBITDA before Construction Services margin as a relevant performance measure.

Adjusted EBITDA excluding Construction Services is defined, with respect to each segment, as net income before construction services revenue, financial income, construction services cost, financial loss, inflation adjustment, income tax, depreciation and amortization for such segments. The Adjusted EBITDA excluding construction services revenue and construction services cost (which are based on the principles of IFRIC 12) does not exclude the amortization of the intangible asset related to the fixed fee payable to the corresponding governments for the operation of airport concessions.

*Corporación América Airports S.A. Unaudited Condensed Consolidated Interim Financial Statements for the three and nine-month period ended September 30, 2025 and 2024 (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 September 30, 2025** |  |  |  |  |  |  |  |
| Aeronautical revenue <sup>(\*)</sup> | 135051 | 12142 | 19096 | 33853 | 21424 | 24481 | 246047 |
| Non-aeronautical revenue <sup>(\*)</sup> |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial revenue | 105140 | 19167 | 19327 | 57667 | 7694 | 17842 | 226837 |
| &nbsp;&nbsp;&nbsp;&nbsp;Construction service revenue | 35554 | 537 | 10172 | 3383 |  | 5519 | 55165 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other revenue |  |  | 4 |  |  | 1459 | 1463 |
| **Revenue** | **275745** | **31846** | **48599** | **94903** | **29118** | **49301** | **529512** |
| Salaries and social security contributions | (44359) | (5609) | (7467) | (5712) | (3225) | (8068) | (74440) |
| Concession fees | (35071) | (5804) | (5718) |  | (9593) | (3111) | (59297) |
| Construction service cost | (35482) | (537) | (10172) | (3285) |  | (3261) | (52737) |
| Maintenance expense | (32144) | (1299) | (4989) | (1733) | (1527) | (3516) | (45208) |
| Amortization and depreciation | (31567) | (2961) | (2604) | (5723) | (1867) | (2980) | (47702) |
| Cost of fuel |  | (72) | (434) | (36395) |  |  | (36901) |
| Other operational expenditures | (31989) | (5668) | (6245) | (5195) | (5672) | (11598) | (66367) |
| **Operational expenditure** | **(210612)** | **(21950)** | **(37629)** | **(58043)** | **(21884)** | **(32534)** | **(382652)** |
| Impairment loss of non-financial assets |  |  |  |  |  | (166) | (166) |
| Other operating income | 7096 | 2290 | 45 | 41 | 29 | 35 | 9536 |
| Other operating expenses | (2662) | (22) | (218) | (213) | (21) |  | (3136) |
| **Operating income** | **69567** | **12164** | **10797** | **36688** | **7242** | **16636** | **153094** |
| Share of income / (loss) in associates |  |  |  |  |  |  |  |
| Amortization and depreciation | 31567 | 2961 | 2604 | 5723 | 1867 | 2980 | 47702 |
| **Adjusted Ebitda** | **101134** | **15125** | **13401** | **42411** | **9109** | **19616** | **200796** |
| Construction services revenue | (35554) | (537) | (10172) | (3383) |  | (5519) | (55165) |
| Construction services cost | 35482 | 537 | 10172 | 3285 |  | 3261 | 52737 |
| **Adjusted Ebitda excluding Construction Services** | **101062** | **15125** | **13401** | **42313** | **9109** | **17358** | **198368** |

---

<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 and nine-month period ended September 30, 2025 and 2024 (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 September 30, 2024** |  |  |  |  |  |  |  |
| Aeronautical revenue <sup>(\*)</sup> | 110634 | 10406 | 19650 | 28999 | 21564 | 22294 | 213547 |
| Non-aeronautical revenue <sup>(\*)</sup> |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial revenue | 88279 | 16714 | 17687 | 47189 | 7394 | 14950 | 192213 |
| &nbsp;&nbsp;&nbsp;&nbsp;Construction service revenue | 39745 | 175 | 11790 | 1321 |  | 4045 | 57076 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other revenue |  |  | 4 |  |  | 896 | 900 |
| **Revenue** | **238658** | **27295** | **49131** | **77509** | **28958** | **42185** | **463736** |
| Salaries and social security contributions | (45954) | (4989) | (6169) | (5665) | (3326) | (6692) | (72795) |
| Concession fees | (29356) | (5402) | (5465) |  | (9663) | (2730) | (52616) |
| Construction service cost | (39668) | (175) | (11790) | (1283) |  | (3284) | (56200) |
| Maintenance expense | (35246) | (1342) | (4052) | (1444) | (1384) | (2045) | (45513) |
| Amortization and depreciation | (27952) | (2743) | (2243) | (5477) | (1787) | (2738) | (42940) |
| Cost of fuel |  | (62) | (94) | (30716) |  |  | (30872) |
| Other operational expenditures | (32248) | (4906) | (6470) | (4133) | (5818) | (10832) | (64407) |
| **Operational expenditure** | **(210424)** | **(19619)** | **(36283)** | **(48718)** | **(21978)** | **(28321)** | **(365343)** |
| Other operating income | 5273 | 2263 | 9 | 25 | 25 | 18 | 7613 |
| Other operating expenses | (1244) | (3) | (76) | (285) | (8) |  | (1616) |
| **Operating income** | **32263** | **9936** | **12781** | **28531** | **6997** | **13882** | **104390** |
| Share of loss in associates |  |  |  |  |  |  |  |
| Amortization and depreciation | 27952 | 2743 | 2243 | 5477 | 1787 | 2738 | 42940 |
| **Adjusted Ebitda** | **60215** | **12679** | **15024** | **34008** | **8784** | **16620** | **147330** |
| Construction services revenue | (39745) | (175) | (11790) | (1321) |  | (4045) | (57076) |
| Construction services cost | 39668 | 175 | 11790 | 1283 |  | 3284 | 56200 |
| **Adjusted Ebitda excluding Construction Services** | **60138** | **12679** | **15024** | **33970** | **8784** | **15859** | **146454** |

---

<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 and nine-month period ended September 30, 2025 and 2024 (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 nine-month period ended September 30, 2025** |  |  |  |  |  |  |  |
| Aeronautical revenue <sup>(\*)</sup> | 384406 | 31811 | 65018 | 76281 | 61188 | 58738 | 677442 |
| Non-aeronautical revenue <sup>(\*)</sup> |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial revenue | 288316 | 52149 | 63611 | 131389 | 22440 | 41517 | 599422 |
| &nbsp;&nbsp;&nbsp;&nbsp;Construction service revenue | 75416 | 721 | 23329 | 8135 |  | 15801 | 123402 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other revenue |  |  | 18 |  |  | 6070 | 6088 |
| **Revenue** | **748138** | **84681** | **151976** | **215805** | **83628** | **122126** | **1406354** |
| Salaries and social security contributions | (125764) | (16112) | (23958) | (16981) | (9501) | (23247) | (215563) |
| Concession fees | (98175) | (16343) | (17424) |  | (27386) | (7518) | (166846) |
| Construction service cost | (75215) | (721) | (23329) | (7904) |  | (8254) | (115423) |
| Maintenance expense | (95062) | (3652) | (15026) | (4662) | (5071) | (10181) | (133654) |
| Amortization and depreciation | (96399) | (8370) | (8103) | (16808) | (5531) | (8379) | (143590) |
| Cost of fuel |  | (203) | (2332) | (80694) |  |  | (83229) |
| Other operational expenditures | (89811) | (14957) | (18131) | (14501) | (16527) | (33359) | (187286) |
| **Operational expenditure** | **(580426)** | **(60358)** | **(108303)** | **(141550)** | **(64016)** | **(90938)** | **(1045591)** |
| Impairment loss of non-financial assets |  |  |  |  |  | (166) | (166) |
| Other operating income | 18193 | 3204 | 287 | 192 | 32 | 295 | 22203 |
| Other operating expenses | (8020) | (26) | (384) | (1339) | (33) |  | (9802) |
| **Operating income** | **177885** | **27501** | **43576** | **73108** | **19611** | **31317** | **372998** |
| Share of income / (loss) in associates |  |  |  |  |  | 10 | 10 |
| Amortization and depreciation | 96399 | 8370 | 8103 | 16808 | 5531 | 8379 | 143590 |
| **Adjusted Ebitda** | **274284** | **35871** | **51679** | **89916** | **25142** | **39706** | **516598** |
| Construction services revenue | (75416) | (721) | (23329) | (8135) |  | (15801) | (123402) |
| Construction services cost | 75215 | 721 | 23329 | 7904 |  | 8254 | 115423 |
| **Adjusted Ebitda excluding Construction Services** | **274083** | **35871** | **51679** | **89685** | **25142** | **32159** | **508619** |
| **September 30, 2025** |  |  |  |  |  |  |  |
| Current assets | 243658 | 106344 | 60647 | 82155 | 56006 | 77092 | **625902** |
| Non-current assets | 1790185 | 513611 | 258263 | 222599 | 45853 | 295962 | **3126473** |
| Capital Expenditure | 75629 | 1612 | 27745 | 12549 | 1145 | 18811 | **137491** |
| Current liabilities | 269885 | 215059 | 56092 | 48701 | 50944 | 79990 | **720671** |
| Non-current liabilities | 790151 | 873470 | 62645 | 131 | 5272 | 150989 | **1882658** |

---

<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 and nine-month period ended September 30, 2025 and 2024 (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 nine-month period ended September 30, 2024** |  |  |  |  |  |  |  |
| Aeronautical revenue <sup>(\*)</sup> | 380045 | 30697 | 62992 | 69176 | 61682 | 54540 | 659132 |
| Non-aeronautical revenue <sup>(\*)</sup> |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial revenue | 278825 | 51569 | 56968 | 111889 | 20978 | 35920 | 556149 |
| &nbsp;&nbsp;&nbsp;&nbsp;Construction service revenue | 118414 | 692 | 26724 | 4223 | 75 | 6535 | 156663 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other revenue |  |  | 9 |  |  | 3111 | 3120 |
| **Revenue** | **777284** | **82958** | **146693** | **185288** | **82735** | **100106** | **1375064** |
| Salaries and social security contributions | (134241) | (17288) | (21700) | (15653) | (10012) | (20892) | (219786) |
| Concession fees | (96614) | (16737) | (16045) |  | (27704) | (6660) | (163760) |
| Construction service cost | (118207) | (692) | (26724) | (4100) | (75) | (5001) | (154799) |
| Maintenance expense | (93452) | (4027) | (12395) | (4457) | (3287) | (6266) | (123884) |
| Amortization and depreciation | (79783) | (8549) | (7447) | (15813) | (5309) | (8107) | (125008) |
| Cost of fuel |  | (195) | (2657) | (71480) |  |  | (74332) |
| Other operational expenditures | (91952) | (14592) | (17708) | (11716) | (17225) | (28123) | (181316) |
| **Operational expenditure** | **(614249)** | **(62080)** | **(104676)** | **(123219)** | **(63612)** | **(75049)** | **(1042885)** |
| Other operating income | 16906 | 4933 | 13 | 223 | 55 | 247 | 22377 |
| Other operating expenses | (4111) | (447) | (323) | (746) | (18) |  | (5645) |
| **Operating income** | **175830** | **25364** | **41707** | **61546** | **19160** | **25304** | **348911** |
| Share of income / (loss) in associates | (1) |  |  |  |  | 184 | 183 |
| Amortization and depreciation | 79783 | 8549 | 7447 | 15813 | 5309 | 8107 | 125008 |
| **Adjusted Ebitda** | **255612** | **33913** | **49154** | **77359** | **24469** | **33595** | **474102** |
| Construction services revenue | (118414) | (692) | (26724) | (4223) | (75) | (6535) | (156663) |
| Construction services cost | 118207 | 692 | 26724 | 4100 | 75 | 5001 | 154799 |
| **Adjusted Ebitda excluding Construction Services** | **255405** | **33913** | **49154** | **77236** | **24469** | **32061** | **472238** |
| **December 31, 2024** |  |  |  |  |  |  |  |
| Current assets | 242657 | 66824 | 42502 | 70306 | 64789 | 54069 | **541147** |
| Non-current assets | 1999467 | 461164 | 227452 | 185355 | 47605 | 253599 | **3174642** |
| Capital Expenditure | 155747 | 2610 | 36479 | 17514 | 4164 | 19170 | **235684** |
| Current liabilities | 253577 | 181138 | 30102 | 17211 | 54374 | 65191 | **601593** |
| Non-current liabilities | 846196 | 704842 | 62821 |  | 4282 | 124224 | **1742365** |

---

<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 and nine-month period ended September 30, 2025 and 2024 (amounts in thousands of U.S. dollars except share data or as otherwise indicated).*

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| | |
|:---|:---|
| **3** | **Segment information (Cont.)** |

---

**Reconciliations**

Adjusted EBITDA related to the reportable segments reconciles to operating income / (loss) as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the three-month<br> period ended<br> September 30, 2025** | **For the three-month<br> period ended<br> September 30, 2024** | **For the nine-month<br> period ended<br> September 30, 2025** | **For the nine-month<br> period ended<br> September 30, 2024** |
| **Adjusted Ebitda - Total reportable segment** | **200796** | **147330** | **516598** | **474102** |
| Share of loss in associates |  |  | (10) | (183) |
| Amortization and depreciation | (47702) | (42940) | (143590) | (125008) |
| Intrasegment Adjustments | 61 | 1 | 23 | (4) |
| Unallocated | (6208) | (3452) | (16834) | (12873) |
| **Operating income** | **146947** | **100939** | **356187** | **336034** |

---

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 Consolidated financial statements. Additionally, other operating income / (loss) is reconciled to income for the period.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **For the three-month period ended September 30, 2025** | **For the three-month period ended September 30, 2025** | **For the three-month period ended September 30, 2025** | **For the three-month period ended September 30, 2025** | **For the three-month period ended September 30, 2024** | **For the three-month period ended September 30, 2024** | **For the three-month period ended September 30, 2024** | **For the three-month period ended September 30, 2024** |
|  | **Total reportable<br> segment** | **Intrasegment<br> Adjustments** | **Unallocated** | **Total** | **Total reportable<br> segment** | **Intrasegment<br> Adjustments** | **Unallocated** | **Total** |
| **Revenue** | **529512** | **(4050)** | **1810** | **527272** | **463736** | **(3734)** | **1807** | **461809** |
| **Operational expenditure** | **(382652)** | **4111** | **(8017)** | **(386558)** | **(365343)** | **3735** | **(5348)** | **(366956)** |
| Impairment loss of non-financial assets | (166) |  |  | (166) |  |  |  |  |
| Other operating income | 9536 |  | (1) | 9535 | 7613 |  | 89 | 7702 |
| Other operating expenses | (3136) |  |  | (3136) | (1616) |  |  | (1616) |
| **Operating income / (loss)** | **153094** | **61** | **(6208)** | **146947** | **104390** | **1** | **(3452)** | **100939** |
| Share of loss in associates |  |  | (987) | (987) |  |  | (562) | (562) |
| Financial income |  |  |  | 20231 |  |  |  | 15921 |
| Financial loss |  |  |  | (86194) |  |  |  | (31849) |
| Inflation adjustment |  |  |  | (1040) |  |  |  | (3152) |
| **Income before income tax expense** |  |  |  | **78957** |  |  |  | **81297** |
| Income tax |  |  |  | (20231) |  |  |  | (80636) |
| **Income for the period** |  |  |  | **58726** |  |  |  | **661** |

---

*Corporación América Airports S.A. Unaudited Condensed Consolidated Interim Financial Statements for the three and nine-month period ended September 30, 2025 and 2024 (amounts in thousands of U.S. dollars except share data or as otherwise indicated).*

---

| | |
|:---|:---|
| **3** | **Segment information (Cont.)** |

---

**Reconciliations (Cont.)**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **For the nine-month period ended September 30, 2025** | **For the nine-month period ended September 30, 2025** | **For the nine-month period ended September 30, 2025** | **For the nine-month period ended September 30, 2025** | **For the nine-month period ended September 30, 2024** | **For the nine-month period ended September 30, 2024** | **For the nine-month period ended September 30, 2024** | **For the nine-month period ended September 30, 2024** |
|  | **Total reportable<br> segment** | **Intrasegment<br> Adjustments** | **Unallocated** | **Total** | **Total reportable<br> segment** | **Intrasegment<br> Adjustments** | **Unallocated** | **Total** |
| **Revenue** | **1406354** | **(13037)** | **6205** | **1399522** | **1375064** | **(11301)** | **6092** | **1369855** |
| **Operational expenditure** | **(1045591)** | **13062** | **(23040)** | **(1055569)** | **(1042885)** | **11297** | **(19105)** | **(1050693)** |
| Impairment loss of non-financial assets | (166) |  |  | (166) |  |  |  |  |
| Other operating income | 22203 | (2) | 1 | 22202 | 22377 |  | 140 | 22517 |
| Other operating expenses | (9802) |  |  | (9802) | (5645) |  |  | (5645) |
| **Operating income / (loss)** | **372998** | **23** | **(16834)** | **356187** | **348911** | **(4)** | **(12873)** | **336034** |
| Share of loss in associates | 10 |  | (2153) | (2143) | 183 |  | (1012) | (829) |
| Financial income |  |  |  | 47698 |  |  |  | 55070 |
| Financial loss |  |  |  | (197081) |  |  |  | 153118 |
| Inflation adjustment |  |  |  | (5694) |  |  |  | (20878) |
| **Income before income tax expense** |  |  |  | **198967** |  |  |  | **522515** |
| Income tax |  |  |  | (58722) |  |  |  | (261587) |
| **Income for the period** |  |  |  | **140245** |  |  |  | **260928** |

---

Assets and liabilities related to the reportable segments reconcile to the corresponding totals shown in these Consolidated financial statements as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **At September 30, 2025** | **At September 30, 2025** | **At September 30, 2025** | **At September 30, 2025** | **At December 31, 2024** | **At December 31, 2024** | **At December 31, 2024** | **At December 31, 2024** |
|  | **Total reportable<br> segment** | **Intrasegment<br> Adjustments** | **Unallocated** | **Total** | **Total reportable<br> segment** | **Intrasegment<br> Adjustments** | **Unallocated** | **Total** |
| Current assets | 625902 | (261382) | 558156 | **922676** | 541147 | (92626) | 316993 | **765514** |
| Non-current assets | 3126473 | (66197) | 311722 | **3371998** | 3174642 | (47044) | 288338 | **3415936** |
| Capital Expenditure | 137491 |  | 2 | **137493** | 235684 |  | 28 | **235712** |
| Current liabilities | 720671 | (261382) | 142387 | **601676** | 601593 | (92626) | 94763 | **603730** |
| Non-current liabilities | 1882658 | (66197) | 374038 | **2190499** | 1742365 | (47044) | 364439 | **2059760** |

---

*Corporación América Airports S.A. Unaudited Condensed Consolidated Interim Financial Statements for the three and nine-month period ended September 30, 2025 and 2024 (amounts in thousands of U.S. dollars except share data or as otherwise indicated).*

---

| | |
|:---|:---|
| **4** | **Revenue** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the three-month period <br> ended September 30,** | **For the three-month period <br> ended September 30,** | **For the nine-month period <br> ended September 30,** | **For the nine-month period <br> ended September 30,** |
|  | **2025** | **2024** | **2025** | **2024** |
| Aeronautical revenue | 246047 | 213547 | 677442 | 659132 |
| Non-aeronautical revenue |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial revenue | 224596 | 190286 | 592590 | 550364 |
| &nbsp;&nbsp;&nbsp;&nbsp;Construction service revenue | 55165 | 57076 | 123402 | 156663 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other revenue | 1464 | 900 | 6088 | 3696 |
|  | **527272** | **461809** | **1399522** | **1369855** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Timing of revenue recognition** | | | | |
| Over time | 405001 | 354912 | 1083594 | 1073332 |
| At a point in time | 40895 | 32736 | 91594 | 78191 |
| Revenues from sub-concession of spaces | 81376 | 74161 | 224334 | 218332 |
| **Revenue** | **527272** | **461809** | **1399522** | **1369855** |

---

---

| | |
|:---|:---|
| **5** | **Cost of services** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the three-month period<br> ended September 30,** | **For the three-month period<br> ended September 30,** | **For the nine-month period <br> ended September 30,** | **For the nine-month period <br> ended September 30,** |
|  | **2025** | **2024** | **2025** | **2024** |
| Salaries and social security contributions | (61118) | (61104) | (177571) | (187251) |
| Concession fees <sup>(1)</sup> | (56968) | (50656) | (159765) | (157827) |
| Amortization and depreciation <sup>(2)</sup> | (47747) | (44077) | (144396) | (128681) |
| Maintenance expenses | (43566) | (45687) | (129303) | (124396) |
| Construction services cost | (52737) | (56200) | (115423) | (154799) |
| Cost of fuel | (36901) | (30871) | (83229) | (74323) |
| Services and fees | (17275) | (19992) | (50221) | (54160) |
| Office expenses | (3850) | (4209) | (10926) | (12068) |
| Taxes | (1202) | (1823) | (3683) | (4336) |
| Others | (8729) | (5226) | (22646) | (12678) |
|  | **(330093)** | **(319845)** | **(897163)** | **(910519)** |

---

<sup>(1)</sup> Includes depreciation for fixed concession assets fee of USD 5,195 for the three-month period ended September 30, 2025 (USD 4,875 for the three-month period ended September 30, 2024), and USD 14,793 for the nine-month period ended September 30, 2025 (USD 15,301 for the nine-month period ended September 30, 2024).

<sup>(2)</sup> Includes depreciation of leases of USD 950 for the three-month period ended September 30, 2025 (USD 626 for the three-month period ended September 30, 2024), and USD 2,133 for the nine-month period ended September 30, 2025 (USD 1,904 for the nine-month period ended September 30, 2024).

*Corporación América Airports S.A. Unaudited Condensed Consolidated Interim Financial Statements for the three and nine-month period ended September 30, 2025 and 2024 (amounts in thousands of U.S. dollars except share data or as otherwise indicated).*

---

| | |
|:---|:---|
| **6** | **Selling, general and administrative expenses** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the three-month period<br> ended September 30,** | **For the three-month period<br> ended September 30,** | **For the nine-month period <br> ended September 30,** | **For the nine-month period <br> ended September 30,** |
|  | **2025** | **2024** | **2025** | **2024** |
| Taxes <sup>(1)</sup> | (16713) | (12276) | (45406) | (42553) |
| Salaries and social security contributions | (13614) | (11957) | (38907) | (33405) |
| Services and fees | (12675) | (11797) | (36526) | (33149) |
| Amortization and depreciation <sup>(2)</sup> | (3044) | (1830) | (8051) | (5365) |
| Office expenses | (1958) | (2303) | (6728) | (6150) |
| Maintenance expenses | (1670) | (739) | (4497) | (2059) |
| Advertising | (1159) | (1821) | (3085) | (4257) |
| Insurance | (701) | (459) | (2426) | (1919) |
| Bad debts | (3054) | (1750) | (7754) | (6382) |
| Bad debts recovery | 659 | 715 | 2537 | 3075 |
| Other | (2536) | (2894) | (7563) | (8010) |
|  | **(56465)** | **(47111)** | **(158406)** | **(140174)** |

---

<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 240 for the three-month period ended September 30, 2025 (USD 193 for the three-month period ended September 30, 2024), and USD 646 for the nine-month period ended September 30, 2025 (USD 588 for the nine-month period ended on September 30, 2024).

---

| | |
|:---|:---|
| **7** | **Other operating income** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the three-month period <br> ended September 30,** | **For the three-month period <br> ended September 30,** | **For the nine-month period <br> ended September 30,** | **For the nine-month period <br> ended September 30,** |
|  | **2025** | **2024** | **2025** | **2024** |
| Government grants <sup>(1)</sup> | 5842 | 4891 | 16353 | 16098 |
| Government subsidies per Covid-19 context |  | 79 | 720 | 79 |
| Other | 3693 | 2732 | 5129 | 6340 |
|  | **9535** | **7702** | **22202** | **22517** |

---

<sup>(1)</sup> Corresponds to government grants for the development of airport infrastructure in Group A, operated by Aeropuertos Argentina 2000 ("AA2000"), of the National Airport System in Argentina. There are no unfulfilled conditions or other contingencies related to these grants.

*Corporación América Airports S.A. Unaudited Condensed Consolidated Interim Financial Statements for the three and nine-month period ended September 30, 2025 and 2024 (amounts in thousands of U.S. dollars except share data or as otherwise indicated).*

---

| | |
|:---|:---|
| **8** | **Financial results, net** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the three-month period<br> ended September 30,** | **For the three-month period<br> ended September 30,** | **For the nine-month period<br> ended September 30,** | **For the nine-month period<br> ended September 30,** |
|  | **2025** | **2024** | **2025** | **2024** |
| Interest income | 8024 | 12291 | 24275 | 44808 |
| Foreign exchange results | 8853 | 597 | 15303 | 923 |
| Other financial income | 3354 | 3033 | 8120 | 9339 |
| **Financial income** | **20231** | **15921** | **47698** | **55070** |
| Interest expense | (23167) | (25011) | (66973) | (81087) |
| Foreign exchange results <sup>(1)</sup> | (42048) | 13288 | (58401) | 307377 |
| Changes in liability for concessions <sup>(2)</sup> | (18490) | (18785) | (65022) | (66369) |
| Other financial loss | (2489) | (1341) | (6685) | (6803) |
| **Financial loss** | **(86194)** | **(31849)** | **(197081)** | **153118** |
| Inflation adjustment | (1040) | (3152) | (5694) | (20878) |
| **Inflation adjustment** | **(1040)** | **(3152)** | **(5694)** | **(20878)** |
| **Net financial results** | **(67003)** | **(19080)** | **(155077)** | **187310** |

---

<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<br> ended September 30,** | **For the three-month period<br> ended September 30,** | **For the nine-month period<br> ended September 30,** | **For the nine-month period<br> ended September 30,** |
|  | **2025** | **2024** | **2025** | **2024** |
| Current income tax | (16871) | (10211) | (37168) | (23447) |
| Deferred income tax | (3360) | (70425) | (21554) | (238140) |
|  | **(20231)** | **(80636)** | **(58722)** | **(261587)** |

---

For the three and nine-month period ended September 30, 2025, there is a lower effective tax rate compared with the same periods ended September 30, 2024, due to lower tax inflation adjustment in Argentina. Moreover, for the three-month period ended September 30, 2024, deferred tax assets on tax loss carry forwards from Brazilian concessions for a total amount of USD 35.8 million were unrecognized because there was not sufficient evidence that there would be enough future taxable profits to use such tax losses.

*Corporación América Airports S.A. Unaudited Condensed Consolidated Interim Financial Statements for the three and nine-month period ended September 30, 2025 and 2024 (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, 2025** | **5402300** | **8788** | **23843** | **5434931** |
| Acquisitions | 126655 |  | 1464 | 128119 |
| Disposals |  |  | (144) | (144) |
| Write-off | (8339) |  |  | (8339) |
| Other | 24 |  |  | 24 |
| Transfers | (11) |  | 11 |  |
| Translation differences and inflation adjustment | (89507) | 1119 | 2961 | (85427) |
|  | **5431122** | **9907** | **28135** | **5469164** |
| **Depreciation** |  |  |  |  |
| **Accumulated at January 1, 2025** | **2258994** | **-** | **20489** | **2279483** |
| Depreciation of the period | 155826 |  | 633 | 156459 |
| Disposals |  |  | (95) | (95) |
| Write-off | (5025) |  |  | (5025) |
| Translation differences and inflation adjustment | (54306) | - | 2629 | (51677) |
|  | **2355489** | **-** | **23656** | **2379145** |
| **At September 30, 2025** | **3075633** | **9907** | **4479** | **3090019** |
| **Cost** |  |  |  |  |
| **Balances at January 1, 2024** | **4153428** | **9293** | **24661** | **4187382** |
| Acquisitions | 152789 |  | 1082 | 153871 |
| Disposals | (434) |  | (484) | (918) |
| Other | 2941 |  |  | 2941 |
| Transfer from property plant and equipment | 16 |  |  | 16 |
| Translation differences and inflation adjustment | 1129796 | 167 | 46 | 1130009 |
|  | **5438536** | **9460** | **25305** | **5473301** |
| **Depreciation** |  |  |  |  |
| **Accumulated at January 1, 2024** | **1645013** | **-** | **21404** | **1666417** |
| Depreciation of the period | 138784 |  | 628 | 139412 |
| Disposals | (31) |  | (284) | (315) |
| Transfer from property plant and equipment | 2 |  |  | 2 |
| Translation differences and inflation adjustment | 455984 | - | 139 | 456123 |
|  | **2239752** | **-** | **21887** | **2261639** |
| **At September 30, 2024** | **3198784** | **9460** | **3418** | **3211662** |

---

Due to the good performance witnessed during 2024 and 2025 across all countries, the Group has not identified impairment indicators except in the Brazilian segment due to the historical losses from its operations. Therefore, the Group performed the impairment test of the Brazilian cash-generating unit ("CGU") (covering concession assets with a carrying value of USD 566.0 million as of September 30, 2025) 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 September 30, 2025, and December 31, 2024, the recoverable amount of aforementioned CGU exceeded its carrying amount.

*Corporación América Airports S.A. Unaudited Condensed Consolidated Interim Financial Statements for the three and nine-month period ended September 30, 2025 and 2024 (amounts in thousands of U.S. dollars except share data or as otherwise indicated).*

---

| | |
|:---|:---|
| **11** | **Cash and cash equivalents** |

---

------

---

| | | |
|:---|:---|:---|
|  | **At September 30, 2025** | **At December 31, 2024** |
| Cash to be deposited | 293 | 540 |
| Cash at banks | 148720 | 189684 |
| Time deposits | 18493 | 21615 |
| Other cash equivalents <sup>(1)</sup> | 372882 | 228008 |
|  | **540388** | **439847** |

---

<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 based, mainly on the external credit ratings of the counterparties and low risk of changes in value.

As of September 30, 2025, cash and cash equivalents includes restricted cash on deposit as collateral for a total amount of USD 5,850 (USD 4,621 as of December 31, 2024).

---

| | |
|:---|:---|
| **12** | **Borrowings** |

---

---

| | | |
|:---|:---|:---|
|  | **At September 30, 2025** | **At December 31, 2024** |
| **Non-current** |  |  |
| Bank and financial borrowings (\*\*) | 283425 | 250150 |
| Notes (\*) | 718010 | 778218 |
| Other | 16850 | 14336 |
|  | **1018285** | **1042704** |
| **Current** |  |  |
| Bank and financial borrowings (\*\*) | 27179 | 32769 |
| Notes (\*) | 73147 | 81845 |
| Other | 851 | 753 |
|  | **101177** | **115367** |
| **Total Borrowings** | **1119462** | **1158071** |

---

Changes in borrowings during the period is as follows:

---

| | | |
|:---|:---|:---|
|  | **For the nine-month period ended September 30,** | **For the nine-month period ended September 30,** |
|  | **2025** | **2024** |
| **Balances at the beginning of the period** | **1158071** | **1333237** |
| Loans obtained | 11414 | 141733 |
| Loans repaid | (94388) | (234153) |
| Interest paid | (53472) | (67026) |
| Accrued interest for the period | 65743 | 78621 |
| Debt renegotiation expenses | (193) | (2236) |
| Translation differences and inflation adjustment | 32287 | (22209) |
| **Balances at the end of the period** | **1119462** | **1227967** |

---

*Corporación América Airports S.A. Unaudited Condensed Consolidated Interim Financial Statements for the three and nine-month period ended September 30, 2025 and 2024 (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 September 30, 2025 <sup>(1)</sup>** | 177735 | 224128 | 683818 | 405956 | **1491637** |
| **At December 31, 2024 <sup>(1)</sup>** | 199693 | 213504 | 568212 | 594054 | **1575463** |

---

<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, 2024, which contains further information regarding borrowings.

(\*) Notes include the following as of September 30, 2025:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Note** | **Issuance** | **Currency** | **Nominal value<br> (in millions of<br> USD)** | **Maturity** | **Interest rate** | **Outstanding**<br> **(in millions of<br> USD)** |
| ACI Airport Sudamérica S.A.U. ("ACI") | Senior secured guarantee notes | Nov-2021 | USD | 246.2 | Nov-2034 | Fixed 6.875% | 238.8 |
| ACI Airport Sudamérica S.A.U. ("ACI") | Senior secured guarantee notes | May-2015, May-2020 <sup>(1)</sup> | USD | 14.6 | Nov-2032 | Fixed 6.875% | 10.0 |
| AA2000 | Senior secured guarantee notes | Feb-2017, May-2020 <sup>(1)</sup> | USD | 212.3 | Feb-2027 | Fixed 6.875% | 26.9 |
| AA2000 | Senior secured guarantee notes | Oct-2021 | USD | 208.9 | Aug-2031 | Fixed 8.500% | 209.5 |
| AA2000 | Class 1 Series 2021 Notes | Nov-2021 | USD | 64.0 | Aug-2031 | Fixed 8.500% | 62.1 |
| AA2000 | Class 4 Notes | Nov-2021 | USD | 62.0 | Nov-2028 | Fixed 9.500% | 53.3 |
| AA2000 | Class 5 Notes | Feb-2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;USD <sup>(2)</sup> | 138.0 | Feb-2032 | Fixed 5.500% | 138.5 |
| AA2000 | Class 9 Notes | Aug-2022, Jul-2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;USD <sup>(2)</sup> | 30.0 | Aug-2026 | Fixed 0.000% | 23.0 |
| AA2000 | Class 11 Notes | Dec-2024 | USD | 28.8 | Dec-2026 | Fixed 5.500% | 29.1 |
| **Total** |  |  |  |  |  |  | **791.2** |

---

<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 U.S. dollars but issued and payable in Argentine pesos

(\*) Notes include the following as of December 31. 2024:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Note** | **Issuance** | **Currency** | **Nominal value <br> (in millions of<br> 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% | 237.2 |
| ACI | Senior secured guarantee notes | May-2015, May-2020 <sup>(1)</sup> | USD | 14.6 | Nov-2032 | Fixed 6.875% | 10.4 |
| AA2000 | Senior secured guarantee notes | Feb-2017, May-2020 <sup>(1)</sup> | USD | 212.3 | Feb-2027 | Fixed 6.875% | 44.5 |
| AA2000 | Senior secured guarantee notes | Oct-2021 | USD | 208.9 | Aug-2031 | Fixed 8.500% | 209.1 |
| AA2000 | Class 1 Series 2021 Notes | Nov-2021 | USD | 64.0 | Aug-2031 | Fixed 8.500% | 61.7 |
| AA2000 | Class 4 Notes | Nov-2021 | USD | 62.0 | Nov-2028 | Fixed 9.500% | 61.4 |
| AA2000 | Class 5 Notes | Feb-2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;USD <sup>(2)</sup> | 138.0 | Feb-2032 | Fixed 5.500% | 138.4 |
| AA2000 | Class 6 Notes | Feb-2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;USD <sup>(2)</sup> | 36.0 | Feb-2025 | Fixed 2.000% | 27.2 |
| AA2000 | Class 9 Notes | Aug-2022, Jul-2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;USD <sup>(2)</sup> | 30.0 | Aug-2026 | Fixed 0.000% | 23.1 |
| AA2000 | Class 10 Notes | Jul-2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;USD <sup>(2)</sup> | 25.0 | Jul-2025 | Fixed 0.000% | 18.5 |
| AA2000 | Class 11 Notes | Dec-2024 | USD | 28.8 | Dec-2026 | Fixed 5.500% | 28.6 |
| **Total** |  |  |  |  |  |  | **860.1** |

---

<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 U.S. dollars but issued and payable in Argentine pesos

*Corporación América Airports S.A. Unaudited Condensed Consolidated Interim Financial Statements for the three and nine-month period ended September 30, 2025 and 2024 (amounts in thousands of U.S. dollars except share data or as otherwise indicated).*

---

| | |
|:---|:---|
| **12** | **Borrowings (Cont.)** |

---

(\*\*) As of September 30, 2025, significant bank and financial borrowings include the following:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Lender** | **Currency** | **Maturity** | **Interest Rate** | **Interest Rate** | **Outstanding**<br> **(In millions of <br> USD)** |
| Inframérica Concessionária do <br> Aeroporto de Brasilia S.A. ("ICAB") | BNDES | R$ | Dec-2033 | Variable | TJLP<sup>(2)</sup> plus spread | 176.3 A |
| TCU S.A. ("TCU") | Scotiabank Uruguay | USD | Feb-2026 | Fixed | 4.30% | 0.1 D |
| TCU S.A. ("TCU") | Santander Uruguay | USD | Nov-2027 | Fixed | 5.37% | 0.5 D |
| TCU S.A. ("TCU") | Santander Uruguay | USD | Jan-2028 | Fixed | 5.37% | 0.6 D |
| TA | Intesa Sanpaolo, UniCredit, BPM, BNP and Cassa Depositi e Prestiti | EUR | Jun-2030 | Variable | Euribor plus spread | 116.2 A |
| AA2000 | ICBC Dubai | USD | Oct-2025 | Variable | SOFR plus spread | 3.5 B |
| Consorcio Aeropuertos Internacionales S.A. ("CAISA") | Santander Uruguay | USD | Apr-2027 | Fixed | 5.10% | 3.6 B |
| Consorcio Aeropuertos Internacionales S.A. ("CAISA") | Banco Itaú | USD | Apr-2027 | Fixed | 3.80% | 2.4 |
| Consorcio Aeropuertos Internacionales S.A. ("CAISA") | Santander Uruguay | USD | Apr-2029 | Variable | SOFR plus spread | 2.4 D |
| Puerta del Sur S.A. ("PDS") | Banco de la República Oriental del Uruguay | USD | Mar-2028 | Variable | 5.25% | 5.0 C |
| **Total** |  |  |  |  |  | **310.6** |

---

(\*\*) As of December 31, 2024, **s**ignificant bank and financial borrowings include the following:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Lender** | **Currency** | **Maturity** | **Interest Rate** | **Interest Rate** | **Outstanding**<br> **(In millions of USD)** |
| ICAB | BNDES | R$ | Dec-2033 | Variable | TJLP<sup>(2)</sup> plus spread | 157.7 A |
| Terminal Aeroportuaria de Guayaquil S.A ("TAGSA") | Banco Guayaquil SA | USD | Feb-2026 <sup>(4)</sup> | Variable | T.R.E.<sup>(3)</sup> plus spread | 2.4 D |
| Terminal Aeroportuaria de Guayaquil S.A ("TAGSA") | Banco Bolivariano CA | USD | Dec-2025<sup>(5)</sup> | Variable | T.R.E.<sup>(3)</sup> plus spread | 1.8 D |
| TCU | Scotiabank Uruguay | USD | Feb-2026 | Fixed | 4.30% | 0.3 D |
| TCU | Santander Uruguay | USD | Nov-2027 | Fixed | 5.37% | 0.7 D |
| TCU | Santander Uruguay | USD | Jan-2028 | Fixed | 5.37% | 0.8 D |
| TA | Intesa Sanpaolo, UniCredit, BPM, BNP and Cassa Depositi e Prestiti | EUR | Jun-2030 | Variable | Euribor plus spread | 90.7 A |
| AA2000 | ICBC Dubai | USD | Oct-2025 | Variable | SOFR plus spread | 10.2 B |
| CAISA | Santander Uruguay | USD | Apr-2027 | Fixed | 5.10% | 3.9 B |
| CAISA | Banco Itaú | USD | Apr-2027 | Fixed | 3.80% | 3.9 |
| CAISA | Santander Uruguay | USD | Apr-2029 | Variable | SOFR plus spread | 4.0 D |
| PDS | Banco de la República Oriental del Uruguay | USD | Mar-2028 | Variable | 5.15% | 6.5 C |
| **Total** |  |  |  |  |  | **282.9** |

---

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

B - Secured/unguaranteed.

C - Unsecured/guaranteed.

D - Unsecured/unguaranteed.

EUR - Euros.

R$ - Brazilian Reales.

<sup>(2)</sup> TJLP - Taxa de Juros de Longo Prazo (Brazilian Long term interest rate).

IPCA: corresponds to the Brazilian Consumer Price index.

<sup>(3)</sup> T.R.E - Tasa Referencial Ecuador (Ecuadorian reference interest rate).

<sup>(4)</sup> TAGSA prepaid the loan on February 20, 2025.

<sup>(5)</sup> TAGSA prepaid the loan on March 20, 2025.

*TA – Intesa Sanpaolo, UniCredit , BPM, BNP and Cassa Depositi e Prestiti (the "Lenders")*

In June 2025, the Lenders disbursed an additional EUR 10.0 million (equivalent to USD 11.3 million) to be allocated for the investment plan of the Pisa airport.

*PDS – Banco de la República Oriental del Uruguay ("BROU")*

In April 2025, the standby letter issued by Morgan Stanley Private Bank National Association securing this loan with BROU was reduced from USD 1.2 million to USD 0.9 million.

The Consolidated Financial Statements for the year ended December 31, 2024 includes a detail of the covenants related to Notes, bank and financial borrowings which mainly require the maintenance of certain financial ratios. As of September 30, 2025, the Company and its subsidiaries met the financial covenants under all outstanding financing.

*Corporación América Airports S.A. Unaudited Condensed Consolidated Interim Financial Statements for the three and nine-month period ended September 30, 2025 and 2024 (amounts in thousands of U.S. dollars except share data or as otherwise indicated).*

---

| | |
|:---|:---|
| **13** | **Other liabilities** |

---

---

| | | |
|:---|:---|:---|
|  | **At September 30, 2025** | **At December 31, 2024** |
| **Non-current** |  |  |
| Concession fee payable <sup>(1)</sup> | 705599 | 550095 |
| Advances from customers | 8755 | 8584 |
| Provisions for legal claims <sup>(4)</sup> | 5515 | 7928 |
| Provision for maintenance costs <sup>(2)</sup> | 25799 | 21941 |
| Other taxes payable | 298 | 789 |
| Employee benefit obligation <sup>(3)</sup> | 4155 | 3885 |
| Other liabilities with related parties (Note 16) | 11961 | 12904 |
| Other payables | 13999 | 15286 |
|  | **776081** | **621412** |
| **Current** |  |  |
| Concession fee payable <sup>(1)</sup> | 216201 | 198420 |
| Other taxes payable | 29550 | 29956 |
| Salary payable | 51175 | 57402 |
| Other liabilities with related parties (Note 16) | 5003 | 2146 |
| Advances from customers | 4976 | 5026 |
| Provision for maintenance costs <sup>(2)</sup> | 6661 | 6165 |
| Expenses provisions | 2158 | 3294 |
| Provision for legal claims <sup>(4)</sup> | 7619 | 5889 |
| Other payables | 32396 | 40288 |
|  | **355739** | **348586** |

---

Maturity of the other liabilities is as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **1 year or less** | **1 - 2 years** | **2 - 5 years** | **Over 5 years** | **Total** |
| **At September 30, 2025 <sup>(\*)</sup>** | 355739 | 89310 | 277040 | 1604995 | **2327084** |
| **At December 31, 2024 <sup>(\*)</sup>** | 348586 | 84662 | 265716 | 1335332 | **2034296** |

---

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

<sup>(1)</sup> The most significant amounts included in the concession fee payable as of September 30, 2025 and December 31, 2024 relates to the concession agreement between The Brazilian National Civil Aviation Agency – ANAC and ICAB.

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

---

| | | |
|:---|:---|:---|
|  | **For the nine-month period ended September 30,** | **For the nine-month period ended September 30,** |
|  | **2025** | **2024** |
| **Balances at the beginning of the period** | **748515** | **913370** |
| Financial result <sup>(\*)</sup> | 65022 | 66369 |
| Other | (571) | 2705 |
| Concession fees accrued | 144972 | 142526 |
| Re-equilibrium compensation | (1521) | 125 |
| Payments | (149135) | (144395) |
| Translation differences and inflation adjustment | 114518 | (100943) |
| **Balances at the end of the period** | **921800** | **879757** |

---

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

*Corporación América Airports S.A. Unaudited Condensed Consolidated Interim Financial Statements for the three and nine-month period ended September 30, 2025 and 2024 (amounts in thousands of U.S. dollars except share data or as otherwise indicated).*

---

| | |
|:---|:---|
| **13** | **Other liabilities (Cont.)** |

---

As of September 30, 2025 and December 31, 2024, 50% of the fixed concession fee to be paid with respect of 2021 by ICAB was pending as a re-scheduling of such fee had been requested. Even though the Brazilian Ministry of Infrastructure had granted its approval, the Brazilian ANAC denied ICAB's request, and initiated administrative proceedings with a view to declaring ICAB in default of its payment obligations. Therefore, ICAB initiated a judicial procedure and, on February 2, 2022, a writ of mandamus was granted by a Federal judge suspending any act or enforceability in connection with the unpaid portion of the concession fee due to the Brazilian ANAC. The Brazilian ANAC appealed, but in April 2022, the court of justice provisionally maintained the first instance judgment favorable to ICAB. In November 2023, the first instance ruling was confirmed, granting ICAB the right to reschedule the 50% of 2021 fixed concession fee. The Brazilian ANAC appealed and the case remains pending as of September 30, 2025.

Regarding the 2022 concession fee a partial payment of R$81.6 million (equivalent to USD 15 million) was made through the application of re-equilibrium credits. To pay the remaining amount ICAB presented an offer of court payment orders to the Ministry of Infrastructure in November 2022. In December 2022, the Ministry issued an official letter confirming that ICAB remained in compliance with its payment obligations, while the analysis of the payment of the balance due via court payment orders is pending.

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

---

| | | |
|:---|:---|:---|
|  | **For the nine-month period ended<br> September 30,** | **For the nine-month period ended<br> September 30,** |
|  | **2025** | **2024** |
| **Balances at the beginning of the period** | **28106** | **27042** |
| Accrual of the period | 3343 | 3391 |
| Use of the provision | (2741) | (1542) |
| Translation differences and inflation adjustment | 3752 | 408 |
| **Balances at the end of the period** | **32460** | **29299** |

---

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

---

| | | |
|:---|:---|:---|
|  | **For the nine-month period ended<br> September 30,** | **For the nine-month period ended<br> September 30,** |
|  | **2025** | **2024** |
| **Balances at the beginning of the period** | **3885** | **4382** |
| Actuarial loss (in other comprehensive income) | (201) | (82) |
| Service cost | 393 | 370 |
| Amounts paid in the period | (231) | (319) |
| Translation differences and inflation adjustment | 309 | 29 |
| **Balances at the end of the period** | **4155** | **4380** |

---

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

---

| | | |
|:---|:---|:---|
|  | **For the nine-month period ended<br> September 30,** | **For the nine-month period ended<br> September 30,** |
|  | **2025** | **2024** |
| **Balances at the beginning of the period** | **13817** | **14265** |
| Accrual of the period | 999 | 2178 |
| Use of the provision | (2706) | (1763) |
| Translation differences and inflation adjustment | 1024 | (983) |
| **Balances at the end of the period** | **13134** | **13697** |

---

*Corporación América Airports S.A. Unaudited Condensed Consolidated Interim Financial Statements for the three and nine-month period ended September 30, 2025 and 2024 (amounts in thousands of U.S. dollars except share data or as otherwise indicated).*

---

| | |
|:---|:---|
| **14** | **Equity** |

---

*a) Share capital, share premium and treasury shares*

---

| | | |
|:---|:---|:---|
| **Share capital** | **At September 30,** | **At September 30,** |
|  | **2025** | **2024** |
| **Balances at the beginning of the period** | **163223** | **163223** |
| Capital increase <sup>(1)</sup> | 1996 | - |
| **Balances at the end of the period** | **165219** | **163223** |

---

---

| | | |
|:---|:---|:---|
| **Share premium** | **At September 30,** | **At September 30,** |
|  | **2025** | **2024** |
| **Balances at the beginning of the period** | 183430 | 183430 |
| Capital increase <sup>(1)</sup> | 38004 | - |
| **Balances at the end of the period** | **221434** | **183430** |

---

<sup>(1)</sup> On May 28, 2025, CAAP increased its share capital by the amount of USD 1,996 through the issuance of 1,996,439 new shares having a nominal value of USD 1 each. These new shares were delivered in consideration for the 25% interest in CAI as disclosed in Note 1. As a result of the issuance, the share capital of the Company increased from 163,223 to 165,219 shares. The share premium movement is determined by the difference in the nominal value and the amount determined legally for the subscription. This resulted in an increase of the share premium of the Company from USD 183,430 to USD 221,434.

**Treasury shares**

As of September 30, 2025, the remaining new shares are held in treasury until their allocation to executives and key employees in accordance with the Management Compensation Plan.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the nine-month period ended September 30,** | **For the nine-month period ended September 30,** | **For the nine-month period ended September 30,** | **For the nine-month period ended September 30,** |
|  | **2025** | **2025** | **2024** | **2024** |
|  | **Shares** | **USD** | **Shares** | **USD** |
| **Balances at the beginning of the period** | **2132325** | **4094** | **2251123** | **4322** |
| Transfer of treasury shares to executives and key employees | (30940) | (59) | (118798) | (228) |
| **Balances at the end of the period** | **2101385** | **4035** | **2132325** | **4094** |

---

Set out below are summaries of shares granted under the plan for the nine-month period-ended September 30, 2025 and 2024:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Average <br> price per share** | **2025** | **Average <br> price per share** | **2024** |
| **As at January 1,** | **12.44** | **106667** | **7.83** | **138141** |
| Granted during the period | 18.44 | 32018 | 14.65 | 87324 |
| Exercised during the period | (13.43) | (30940) | (8.70) | (118798) |
| **As at September 30,** | **13.94** | **107745** | **12.44** | **106667** |

---

Additionally, below are summaries the amounts in U.S. dollars of shares granted, exercised and accrued under each plan for the nine-month period-ended September 30, 2025 and 2024:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **2025** | **2025** | **2025** | **2024** | **2024** | **2024** |
| <br>**Assignment date** | **Granted** | **Exercised** | **Accrued** | **Granted** | **Exercised** | **Accrued** |
| April 2022 |  |  |  |  | 200 | 33 |
| December 2022 |  |  |  |  | 126 | 31 |
| April 2023 |  |  | 48 |  | 222 | 180 |
| November 2023 |  | 136 | 30 |  | 101 | 137 |
| August 2024 |  | 102 | 401 | 1279 | 384 | 492 |
| September 2025 | 590 | 177 | 210 | - | - | - |
| **As at September 30,** | **590** | **415** | **689** | **1279** | **1033** | **873** |

---

*Corporación América Airports S.A. Unaudited Condensed Consolidated Interim Financial Statements for the three and nine-month period ended September 30, 2025 and 2024 (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 tax<br> effect (\*)** | **Transfer from<br> shareholders<br> equity –<br> currency<br> translation<br> differences** | **Total** |
| **Balances at January 1, 2025** | **(138653)** | **529** | **(1643)** | **(41220)** | **268** | **63402** | **(117317)** |
| Other comprehensive income / (loss) for the period | (88804) | 95 | 271 | 80 | (88) | - | **(88446)** |
| **For the period ended September 30, 2025** | **(227457)** | **624** | **(1372)** | **(41140)** | **180** | **63402** | **(205763)** |
| **Balances at January 1, 2024** | **(505015)** | **532** | **-** | **(41239)** | **(115)** | **63402** | **(482435)** |
| Other comprehensive income / (loss) for the period | 345005 | 69 | (1229) | 69 | 279 | - | **344193** |
| **For the period ended September 30, 2024** | **(160010)** | **601** | **(1229)** | **(41170)** | **164** | **63402** | **(138242)** |

---

<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 of other reserves.

*c) Other reserves*

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

---

| | | |
|:---|:---|:---|
|  | **For the nine-month period ended September 30,** | **For the nine-month period ended September 30,** |
|  | **2025** | **2024** |
| **Balances at the beginning of the period** | **(1319682)** | **(1313888)** |
| Change in participation <sup>(1)</sup> | (17639) |  |
| Fair value adjustment on equity issuance <sup>(2)</sup> | 1785 |  |
| Share-based compensation reserve | 689 | 873 |
| Execution of share-based compensation reserve | (415) | (1033) |
| Hedge reserve net of income tax | 206 | (934) |
| Remeasurement of defined benefit obligations net for income tax | 72 | 53 |
| **Balances at the end of the period** | **(1334984)** | **(1314929)** |

---

<sup>(1)</sup> Relates to the difference between the fair value of the consideration paid for the acquisition of non-controlling interest in CAI for USD 41,785 and the book value of the non-controlling interest, see Note 1 and Notes 14.a) and d).

<sup>(2)</sup> Relates to the difference between the fair value and the subscription price of the newly issued shares, see Note 1 and Notes 14.a).

*Corporación América Airports S.A. Unaudited Condensed Consolidated Interim Financial Statements for the three and nine-month period ended September 30, 2025 and 2024 (amounts in thousands of U.S. dollars except share data or as otherwise indicated).*

---

| | |
|:---|:---|
| **14** | **Equity (Cont.)** |

---

*d) Non-controlling interest*

The movements of the non- controlling interest is as follows:

---

| | | |
|:---|:---|:---|
|  | **For the nine-month period ended<br> September 30,** | **For the nine-month period ended<br> September 30,** |
|  | **2025** | **2024** |
| **At the beginning of the period** | **148686** | **78929** |
| Income for the period | 260 | 16035 |
| **Other comprehensive (loss) / income** |  |  |
| &nbsp;&nbsp;&nbsp;Currency translation | (30071) | 83183 |
| &nbsp;&nbsp;&nbsp;Remeasurement of defined benefit obligations | 107 | 13 |
| &nbsp;&nbsp;&nbsp;Cash flow hedge | 324 | (336) |
| &nbsp;&nbsp;&nbsp;Reserve for income tax | (104) | 333 |
|  | **(29744)** | **83193** |
| **Other changes in non-controlling interest** |  |  |
| &nbsp;&nbsp;&nbsp;Changes in the participations –acquisitions <sup>(1)</sup> | (24146) |  |
| &nbsp;&nbsp;&nbsp;Dividends approved <sup>(2)</sup> | (38205) | (14942) |
| &nbsp;&nbsp;&nbsp;Other | - | (8) |
|  | **(62351)** | **(14950)** |
| **Non-controlling interest at the end of the period** | **56851** | **163207** |

---

<sup>(1)</sup> Relates to the carrying amount of the non-controlling interest in CAI (see Note 1 and Note 14.a).

<sup>(2)</sup> As of September 30, 2025, in addition to the dividends approved during the period, the equivalent to USD 10,529 were paid to non-controlling interest corresponding to distributions approved in 2024 and pending of payment as of December 31, 2024, while USD 5,500 approved in 2025 are pending of payment as of September 30, 2025.

---

| | |
|:---|:---|
| **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.

*TA – Legal proceedings*

As stated in Note 26.a) of the Consolidated Financial Statements for the year ended December 31, 2024, on November 22, 2024, Nuove Iniziative Toscane ("NIT") appealed the first instance ruling regarding the rejection of a claim made by NIT to TA. On April 9, 2025, the Appeal Court rejected NIT´s appeal, confirmed the ruling of the first instance and condemned NIT to pay TA the proceedings' costs which amount to approximately EUR 0.1 million (equivalent to USD 0.1 million).

On May 23 2025, the parties reached a settlement under which TA renounced its right to claim the EUR 0.1 million (legal costs and related charges) from NIT, and NIT, in turn, waived its right to further challenge the Appeal Court's decision before the Cassation Court. As a result, the claim is now considered fully and finally resolved.

*Corporación América Airports S.A. Unaudited Condensed Consolidated Interim Financial Statements for the three and nine-month period ended September 30, 2025 and 2024 (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.)***

*TAGSA - Tax proceedings*

As stated in Note 26.a) of the Consolidated Financial Statements for the year ended December 31, 2024, the Admission Chamber of the Constitutional Court of Ecuador rejected a claim from the Servicio de Rentas Internas del Ecuador against TAGSA, leading to the case being archived and returned to the original court. On April 22, 2025, the release of the guarantee of USD 0.5 million, associated with the claim was ordered.

*Aeropuertos del Neuquén S.A. ("ANSA") - Civil proceedings*

As stated in Note 26.a) of the Consolidated Financial Statements for the year ended December 31, 2024, ANSA has received a claim of USD 0.5 million from a supplier regarding an alleged breach of contract. On September 11, 2024, the trial court partially granted the claim. On April 28, 2025, the previously issued judgment was partially overturned, and ANSA was ordered to pay ARS 2.2 million, plus interest, with court costs to be shared equally. ANSA complied with the judgment and paid the total amount of ARS 12.2 million (equivalent to USD 0.01 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, 2024.

***b. Commitments***

*CAAP - Guarantees*

On May 6, 2025, a bank guarantee totaling EUR 1.2 million (equivalent to USD 1.4 million) was issued in favour of CAAP to support an offer made in connection with an airport concession tender. This guarantee will remain in full force until May 9, 2026, and is secured by a deposit equal to the amount of the guarantee, which is reported in the *Other financial assets at amortized cost* line of these Condensed Consolidated Interim Statements of Financial Position.

On September 30, 2025, a bank counter-guarantee totaling the equivalent to USD 2.1 million was issued to support an offer made in connection with another airport concession tender. This guarantee will remain in full force until November 1, 2026.

*CAAP - Preferred bidder to operate Abuja and Kano airports in Nigeria*

As stated in Note 26.a) of the Consolidated Financial Statements for the year ended December 31, 2024 a consortium formed by CAAP, Mota-Engil, Engenharia e Construção África S.A., and Mota-Engil Nigeria Limited (the "Consortium"), of which the Company holds a 51% stake, was declared by the Federal Government of Nigeria as preferred bidder for the Abuja and Kano airports and cargo terminals concessions.

*Corporación América Airports S.A. Unaudited Condensed Consolidated Interim Financial Statements for the three and nine-month period ended September 30, 2025 and 2024 (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.)** |

---

***b. Commitments (Cont.)***

*Guarantees related to concession agreements*

In April 2025, AA2000 increased the performance guarantee related to its concessions from ARS 26,419.0 million (approximately USD 21.9 million) as of December 31, 2024 to ARS 32,978.6 million (approximately USD 23.9 million) as of September 30, 2025.

The amount of the insurance regarding the Brasilia concession agreement of ICAB was updated, increasing from R$269.3 million (approximately USD 50.6 million) as of December 31, 2024 to R$283.7 million (approximately USD 53.3 million) as of September 30, 2025. The insurance is granted by a guarantee letter of CAAP underwritten by an insurance company.

*Final settlement of accounts between ANAC and ACI do Brasil S.A. ("ACIB")*

As stated in Note 26.b) of the Consolidated Financial Statements as of December 31, 2024, the concession of the International Airport of São Gonçalo do Amarante was handed to a new concessionaire. Related to this process, a final settlement of accounts between ANAC and ACIB was pending. In July 2025, ANAC determined that a credit totalling to R$7.6 million, equivalent to USD 1.4 million was to be paid to ACIB in connection with the return of the assets, amount which sum is reported in Other operating income in the condensed consolidated interim statement of income. As of September 30, 2025, payment of this credit is pending and therefore the credit has been restated by the Brazilian IPCA as of September 30, 2025, now amounting to R$9.1 million, equivalent to USD 1.7 million.

*AA2000 - Concession agreement*

As stated in Note 26.b) of the Consolidated Financial Statements as of December 31, 2024, on December 9, 2024, the Regulatory Authority of the National Airport System ("ORSNA") issued Resolution RESFC-2024-36-APN-ORSNA#MTR, approving the Review of the Financial Projection of Income and Expenses used for the calculation of the concession fees owing for the periods 2021, 2022, and 2023. AA2000 had requested the review of the financial projections in connection with capital and maintenance expenses and the projections of passenger traffic, commercial revenues and maintenance expenses. The request also addresses delays in economic equilibrium revisions and discounts on some rates. On August 7, 2025, ORSNA and AA2000 jointly agreed to suspend the deadlines foreseen for the review process. The procedural deadlines were initially suspended until June 30, 2025, and further suspended until February 11, 2026.

*Corporación América Airports S.A. Unaudited Condensed Consolidated Interim Financial Statements for the three and nine-month period ended September 30, 2025 and 2024 (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.)** |

---

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

As of September 30, 2025 and December 31, 2024, equity as defined under Luxembourg laws and regulations consisted of:

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| | | |
|:---|:---|:---|
|  | **At September 30,<br> 2025** | **At December 31, <br> 2024** |
| Share capital | 165219 | 163223 |
| Share premium | 221434 | 183430 |
| Reserve for own shares | 4035 | 4094 |
| Legal reserve | 10017 | 7419 |
| Free distributable reserves | 378910 | 378910 |
| Non-distributable reserves | 1353993 | 1353934 |
| Retained earnings | 190750 | 86099 |
| **Total equity in accordance with Luxembourg law** | **2324358** | **2177109** |

---

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.

On May 22, 2025, CAAP held its Annual General Meeting of Shareholders in Luxembourg, where the shareholders approved the Company's financial statements as of December 31, 2024, and resolved to allocate USD 2,597,600.79, representing 5% of the profit generated during the 2024 financial year, to 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.

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| | |
|:---|:---|
| **16** | **Related party balances and transactions** |

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Corporación América Airports S.A. is controlled by ACI Airports S.à r.l., which is controlled by Corporación America International S.à r.l., both of which are Luxembourg based companies. Corporación América International S.à r.l. is controlled by Southern Cone Foundation (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 and nine-month period ended September 30, 2025 and 2024 (amounts in thousands of U.S. dollars except share data or as otherwise indicated).*

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| | |
|:---|:---|
| **16** | **Related party balances and transactions (Cont.)** |

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Summary of balances with related parties are:

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| | | |
|:---|:---|:---|
|  | **At September 30,**<br> **2025** | **At December 31,**<br> **2024** |
| **Period-end balances** |  |  |
| **(a) Arising from sales / purchases of goods / other** |  |  |
| Trade receivables with associates | 1746 | 2379 |
| Trade receivables with other related parties | 3013 | 2734 |
| Other receivables with associates | 467 |  |
| Other receivables with other related parties | 9514 | 9239 |
| Other financial assets with associates | 2370 | 3260 |
| Other financial assets with other related parties <sup>(\*)</sup> | 70448 | 44637 |
| Trade payables to associates | (2549) | (1123) |
| Trade payables to other related parties | (3085) | (3877) |
|  | **81924** | **57249** |
| **(b) Other liabilities** |  |  |
| Other liabilities to associates <sup>(\*\*)</sup> | (12870) | (13813) |
| Other liabilities to other related parties | (4094) | (1237) |
|  | **(16964)** | **(15050)** |
| **(c) Other balances** |  |  |
| Cash and cash equivalents in other related parties | 34968 | 34102 |
|  | **34968** | **34102** |

---

<sup>(\*)</sup> As of September 30, 2025, mainly includes a loan and time deposits to other related parties amounting to USD 15.1 million and USD 50.0 million respectively (USD 15.1 million and USD 25.0 million respectively as of December 31, 2024).

As of September 30, 2025 and December 31, 2024, the loan accrues interest at a fixed annual rate of 7.0% and matures in December 2025.

Time deposits with related parties include the following as of September 30, 2025:

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| | | | | |
|:---|:---|:---|:---|:---|
| **Contract date** | **Maturity date** | **Interest rate** | **Contract <br> currency** | **Contract amount (In<br> 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** |

---

Time deposits with related parties include the following as of December 31, 2024:

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| | | | | |
|:---|:---|:---|:---|:---|
| **Contract date** | **Maturity date** | **Interest rate** | **Contract<br> currency** | **Contract amount (In<br> million of USD)** |
| Jan-24 | Jan-27 | 5.00% | USD | 10.0 |
| Aug -24 | Aug -25 | 9.60% | DRAM | 5.0 |
| **Total** |  |  |  | **15.0** |

---

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.

<sup>(\*\*)</sup> As of September 30, 2025, and December 31, 2024, includes deferred income from associates.

*Corporación América Airports S.A. Unaudited Condensed Consolidated Interim Financial Statements for the three and nine-month period ended September 30, 2025 and 2024 (amounts in thousands of U.S. dollars except share data or as otherwise indicated).*

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| | |
|:---|:---|
| **16** | **Related party balances and transactions (Cont.)** |

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Summary of transactions with related parties are:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the three-month period ended<br> September 30,** | **For the three-month period ended<br> September 30,** | **For the nine-month period ended<br> September 30,** | **For the nine-month period ended<br> September 30,** |
|  | **2025** | **2024** | **2025** | **2024** |
| **Transactions** |  |  |  |  |
| Aeronautical/Commercial revenue | 7792 | 6604 | 21849 | 20251 |
| Fees | (3363) | (3800) | (10695) | (9859) |
| Interest accruals | 942 | 545 | 2614 | 1474 |
| Acquisition of goods and services | (8101) | (6884) | (26255) | (20287) |
| Compensation to the Group's key staff | (1323) | (1147) | (4173) | (3804) |
| Others | (875) | (929) | (2517) | (1729) |

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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 4,912 as of September 30, 2025 (USD 4,677 as of December 31, 2024). 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 4,351 as of September 30, 2025 (USD 3,949 as of September 30, 2024).

As mentioned in Note 22 of the audited Consolidated Financial Statements for the year ended December 31, 2024, certain guarantees related to financial liabilities have been received from PDS's Chairman for an amount of USD 0.6 million.

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| | |
|:---|:---|
| **17** | **Cash flow disclosures** |

---

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| | | |
|:---|:---|:---|
|  | **For the nine-month period ended<br> September 30,** | **For the nine-month period ended<br> September 30,** |
| **Changes in working capital** | **2025** | **2024** |
| Other receivables and credits | (62498) | (59118) |
| Inventories | (2664) | 6304 |
| Other liabilities | (18368) | (20231) |
|  | **(83530)** | **(73045)** |

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The most significant non-cash transactions are detailed below:

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| | | |
|:---|:---|:---|
|  | **For the nine-month period ended<br> September 30,** | **For the nine-month period ended<br> September 30,** |
|  | **2025** | **2024** |
| Intangible assets acquisition with an increase in Other liabilities / Borrowings / Lease liabilities or decrease in Other receivables | 4632 | (261) |
| Intangible assets increase in Other liabilities | (46) | (2941) |
| Property, plant and equipment acquisition with an increase in Other liabilities or decrease in Other receivables | 1331 | (4598) |
| Right-of-use asset initial recognition with an increase in Lease liabilities | (2409) | (532) |
| Tax credit with an increase in Other liabilities |  | (6887) |
| Income tax paid with tax certificates | (137) | (1278) |
| Dividends not paid to non-controlling interests in subsidiaries | (5500) |  |
| Acquisition of non-controlling interests through issuance of shares (Note 1 and Note 14.d) | (40000) |  |

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*Corporación América Airports S.A. Unaudited Condensed Consolidated Interim Financial Statements for the three and nine-month period ended September 30, 2025 and 2024 (amounts in thousands of U.S. dollars except share data or as otherwise indicated).*

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| | |
|:---|:---|
| **18** | **Fair value measurement of financial instruments** |

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According to the classification included in Note 3.B of the Consolidated Financial Statements as of December 31, 2024, 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 September 30, 2025:

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| | | |
|:---|:---|:---|
|  | **Fair value** | **Carrying amount** |
| Trust funds <sup>(1)</sup> | 42280 | 38774 |
| Long-term borrowings <sup>(2)</sup> | 974689 | 1018285 |

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<sup>(1)</sup> 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 (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 interest rate derivative disclosed in note 19, which is also fair valued 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.

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| | |
|:---|:---|
| **19** | **Financial risk factors** |

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*a)* *Argentina economical context* 

As stated in Note 3A of the Consolidated Financial Statements as of December 31, 2024, 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 nine-month period ended September 30, 2025 was 22.0%, the devaluation of Argentinean pesos against the US Dollars in the same period was 33.7%. In April 2025, the Central Bank of Argentina implemented regulatory measures that eased access to the Mercado Único y Libre de Cambios ("MULC"). For legal entities, regulatory adjustments were introduced to streamline access to the MULC for the settlement of imports and other foreign exchange operations, although certain restrictions and specific compliance requirements remain in force.

*b)* *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.

*Corporación América Airports S.A. Unaudited Condensed Consolidated Interim Financial Statements for the three and nine-month period ended September 30, 2025 and 2024 (amounts in thousands of U.S. dollars except share data or as otherwise indicated).*

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| | |
|:---|:---|
| **19** | **Financial risk factors (Cont.)** |

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*b)* *Interest rate risk (Cont.)* 

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

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| | | |
|:---|:---|:---|
|  | **At September 30,**<br> **2025** | **At December 31,**<br> **2024** |
| Fixed rate (\*) | 814884 | 884757 |
| Variable rate | 304578 | 273314 |
|  | **1119462** | **1158071** |

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(\*) As of September 30, 2025, it includes USD 78.1 million of short-term borrowings (USD 86.2 million as of December 2024) and USD 736.8 million of long-term borrowings (USD 798.6 million as of December 31, 2024).

Regarding the loan facility signed by TA (refer to Note 22 of the Consolidated Financial Statements for the year ended December 31, 2024 and Note 12 of these Condensed Consolidated Interim Financial Statements), the Company aims to mitigate the exposure to the interest rate fluctuations (Euribor) affecting cash flows. To achieve this, in July 2024, TA entered into interest rate swaps agreements with each Lender, establishing a fixed interest rate of 3.02%, effective until June 30, 2030. The notional amount being hedged corresponds to EUR 89.3 million (equivalent to USD 104.7 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 75% of that principal.

As of September 30, 2025, the fair value of the derivatives stands at EUR 2.7 million, equivalent to USD 3.1 million (EUR 2.4 million, equivalent to USD 2.7 million as of September 30, 2024), which, net of deferred tax, impacts Other comprehensive (loss)/income by EUR 0.4 million, equivalent to USD 0.5 million (EUR (1.8) million, equivalent to USD (2.0) million, as of September 30, 2024).

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| | |
|:---|:---|
| **20** | **Subsequent events** |

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*TCU – Indebtedness*

On October 28, 2025, TCU entered into a loan agreement with BBVA for USD 13.4 million to be allocated for the expansion of the cargo terminal. As of the date of issuance of these Condensed Consolidated Interim Financial Statements, USD 6.7 million has been disbursed, with the remaining USD 6.7 million scheduled for disbursement between March and May 2026. The loan bears an annual interest rate of 4.3% and is repayable by October 2033. To secure the credit facilities, certain revenues have been assigned, and TCU is required to comply with specific financial covenants at year-end as well as certain restrictions.

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

On November 5, 2025, CAAP and Amwaj International for Real-Estate Investments Co. Ltd. signed an award agreement with the Government of Iraq, following an international tender process to operate Baghdad International Airport. Pursuant to the terms of the award agreement, the Parties have a term of ninety days (which may be extended by mutual agreement) to negotiate in good faith and enter into the respective PPP Agreement.

*TA – Master Plan*

As stated in Note 26.a) of the Consolidated Financial Statements for the year ended December 31, 2024, TA is in the process of seeking the approval for Florence Airport´s master plan. On November 12, 2025, the Environmental Impact Assessment decree was published, with a positive outcome. The decree, which incorporates the Environmental Impact Assessment Commission's assessment of the effectiveness of the environmental impact mitigation measures proposed by Toscana Aeroporti, constitutes the preparatory act for the Services Conference. The Service Conference represents the next step in the authorization process for the construction of the new runway and terminal at the Florence airport.