| Schedule of subsidiaries of company |
Holding companies | | | | | | | | | | | | | | | | | | | | | | Percentage of ownership at | | | | Country of | | | | | | December 31, | | Company | | incorporation | | Local currency | | Main activity | | 2025 | | 2024 | | 2023 | | Abafor S.A. | | Uruguay | | UYU | | Holding company | | 100.00 | % | 100.00 | % | 100.00 | % | ACI Airport Sudamérica S.A.U. | | Spain | | EUR | | Holding company | | 100.00 | % | 100.00 | % | 100.00 | % | ACI Airports Italia S.A.U. | | Spain | | EUR | | Holding company | | 100.00 | % | 100.00 | % | 100.00 | % | America International Airports LLC (1) | | USA | | USD | | Holding company | | 100.00 | % | 100.00 | % | 100.00 | % | Anabe ITG S.L. (1) (9) | | Spain | | EUR | | Holding company | | 100.00 | % | 100.00 | % | 100.00 | % | Barnsley ITG S.L. (1) (11) | | Spain | | EUR | | Holding company | | 100.00 | % | 100.00 | % | 99.98 | % | Cargo & Logistics S.A. (1) (7) | | Argentina | | ARS | | Holding company | | 85.21 | % | 85.00 | % | 82.89 | % | Cedicor S.A. | | Uruguay | | UYU | | Holding company | | 100.00 | % | 100.00 | % | 100.00 | % | Cerealsur S.A. | | Uruguay | | UYU | | Holding company | | 100.00 | % | 100.00 | % | 100.00 | % | Corporación Aeroportuaria S.A. | | Argentina | | ARS | | Holding company | | 99.98 | % | 99.98 | % | 99.98 | % | Corporacion Africa Airports Nigeria Limited (9) | | Nigeria | | Naira | | Holding company | | 51.00 | % | 51.00 | % | 51.00 | % | Corporación América Italia S.p.A. (8) | | Italy | | EUR | | Holding company | | 100.00 | % | 75.00 | % | 75.00 | % | Corporación América S.A.U. (7) | | Argentina | | ARS | | Holding company | | 100.00 | % | 100.00 | % | 97.22 | % | Corporación América Sudamericana S.A. (7) (14) | | Argentina | | ARS | | Holding company | | 100.00 | % | 99.29 | % | 96.53 | % | DICASA Spain S.A.U. (1) | | Spain | | EUR | | Holding company | | 100.00 | % | 100.00 | % | 100.00 | % | Inframérica Participaçoes S.A. (1) | | Brazil | | R$ | | Holding company | | 99.98 | % | 99.98 | % | 99.98 | % | Yokelet S.L. | | Spain | | EUR | | Holding company | | 100.00 | % | 100.00 | % | 100.00 | % |
Operating companies | | | | | | | | | | | | | | | | | | | | | | Percentage of ownership at | | | | Country of | | | | | | December 31, | | Company | | incorporation | | Local currency | | Main activity | | 2025 | | 2024 | | 2023 | | Abuja Airport Concession Company (10) | | Nigeria | | Naira | | Airports Operation | | 51.00 | % | 51.00 | % | 51.00 | % | ACI do Brasil S.A. (12) | | Brazil | | R$ | | Airports Operation | | 99.99 | % | 99.99 | % | 99.99 | % | Aerocombustibles Argentinos S.A. (13) | | Argentina | | ARS | | Fueling company | | — | | — | | 94.79 | % | Aeropuerto de Bahía Blanca S.A. (7) | | Argentina | | ARS | | Airports Operation | | 85.00 | % | 85.00 | % | 82.64 | % | Aeropuertos Argentina 2000 S.A. (2) (7) (14) | | Argentina | | ARS | | Airports Operation | | 85.00 | % | 84.79 | % | 82.69 | % | Aeropuertos del Neuquén S.A. (7) | | Argentina | | ARS | | Airports Operation | | 77.70 | % | 77.70 | % | 75.54 | % | Armenia International Airports C.J.S.C. | | Armenia | | DRAM | | Airports Operation | | 100.00 | % | 100.00 | % | 100.00 | % | CAAirports International Services S.A. | | Uruguay | | UYU | | Service company | | 100.00 | % | 100.00 | % | 100.00 | % | Consorcio Aeropuertos Internacionales S.A. | | Uruguay | | UYU | | Airports Operation | | 100.00 | % | 100.00 | % | 100.00 | % | Enarsa Aeropuertos S.A. (7) | | Argentina | | ARS | | Fuel plants | | 80.00 | % | 80.00 | % | 77.77 | % | Inframérica Concessionária do Aeroporto de Brasilia S.A. (8) | | Brazil | | R$ | | Airports Operation | | 50.99 | % | 50.99 | % | 50.99 | % | Kano Airport Concession Company Limited (10) | | Nigeria | | Naira | | Airports Operation | | 51.00 | % | 51.00 | % | 51.00 | % | Paoletti América S.A. (3) (7) (14) | | Argentina | | ARS | | Service company | | 42.50 | % | 42.39 | % | 41.35 | % | Puerta del Sur S.A. | | Uruguay | | UYU | | Airports Operation | | 100.00 | % | 100.00 | % | 100.00 | % | Servicios y Tecnología Aeroportuaria S.A. (7) (14) | | Argentina | | ARS | | Service company | | 85.11 | % | 84.90 | % | 82.79 | % | Sinatus S.A. | | Uruguay | | UYU | | Service company | | 100.00 | % | 100.00 | % | 100.00 | % | TCU S.A. | | Uruguay | | UYU | | Service company | | 100.00 | % | 100.00 | % | 100.00 | % | Terminal Aeroportuaria Guayaquil S.A. (4) (11) | | Ecuador | | USD | | Airports Operation | | 50.00 | % | 50.00 | % | 49.99 | % | Texelrío S.A. (7) (14) | | Argentina | | ARS | | Service company | | 59.50 | % | 59.35 | % | 57.88 | % | Toscana Aeroporti S.p.A.(5) (6) (8) | | Italy | | EUR | | Airports Operation | | 62.28 | % | 46.71 | % | 46.71 | % | Villalonga Furlong S.A. (7) (14) | | Argentina | | ARS | | Service company | | 85.22 | % | 85.01 | % | 82.90 | % |
(1) These companies do not have relevant net assets other than the share of ownership in the operating companies included in the table below. (2) Includes a 9.35% direct interest of Cedicor S.A. in AA2000. (3) The Group has control over this company based on having majority representation in the board, power to direct the process of setting of financial and operating policies and execute the operational management of such Company. (4) The Group has control over this company based on having power to direct the process of setting of financial and operating policies and execute the operational management of such Company. (5) The Group has control over this company based on having a majority stake in CAIT that has 62.28% of ownership of TA, power to direct the process of setting of financial and operating policies and execute the operational management of such Company. (6) The Group TA has control over the following companies: Jet Fuel Co. S.r.l., Parcheggi Peretola S.r.l., Toscana Aeroporti Engineering S.r.l. and TAC. (7) In October, 2024, Cedicor S.A. acquired the non-controlling participation of CASA, increasing its participation to 100%, indirectly modifying the participation in CASA’s subsidiaries. (8) On May 28, 2025, CAAP entered into a transaction agreement whereby DICASA acquired the remaining 25% of the capital interest in CAIT, increasing its indirect participation in TA from 46.71% to 62.28%. (9) Holding company part of the structure related to the future Nigerian concessions (Note 26.b). (10) Operating company part of the structure related to the future Nigerian concessions (Note 26.b). (11) Holding company incorporated under CAER in December 2023, becoming shareholder of TAGSA. In April 2024, CAER sold Barnsley to CAAP. (12) In December 2023, ACIB incorporated ICASGA (Note 26.b). (13) In September 2024, CASA sold its participation in AEAR. (14) In October 2025, Cedicor S.A. acquired the non-controlling participation of CAS. As consequence, indirectly the participation of CAS’s subsidiaries has increased. Additionally, in December 2025, CAS was relocated from Panama to Argentina.
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| Schedule of summary financial information of Group's subsidiaries represents amounts before intragroup elimination |
| | | | | | | | | TA | | | December 31, | | December 31, | | December 31, | | | 2025 | | 2024 | | 2023 | Non-current assets | | 308,678 | | 253,600 | | — | Current assets | | 73,155 | | 54,069 | | — | Total assets | | 381,833 | | 307,669 | | — | Non-current liabilities | | 151,258 | | 124,224 | | — | Current liabilities | | 85,034 | | 65,192 | | — | Total liabilities | | 236,292 | | 189,416 | | — | Equity | | 145,541 | | 118,253 | | — | Revenue | | 170,442 | | 138,786 | | 133,422 | Gross income | | 51,450 | | 45,491 | | 41,783 | Operating income | | 37,911 | | 33,687 | | 28,418 | Financial results | | (9,504) | | (6,334) | | (7,350) | Share of income in associates | | 10 | | 12 | | 14 | Income tax | | (9,538) | | (8,927) | | (6,842) | Net income | | 18,879 | | 18,438 | | 14,240 | Other comprehensive income / (loss) for the year | | 16,892 | | (9,961) | | 4,142 | Total comprehensive income for the year | | 35,771 | | 8,477 | | 18,382 | Dividends paid | | (7,961) | | (7,586) | | (7,838) | | | | | | | | Increase / (decrease) in cash | | | | | | | Provided by operating activities | | 18,436 | | 20,526 | | 21,469 | (Used in) / provided by investing activities | | (4,582) | | 4,981 | | (1,388) | Used in financing activities | | (5,606) | | (29,379) | | (52,221) |
| | | | | | | | | TAGSA | | | December 31, | | December 31, | | December 31, | | | 2025 | | 2024 | | 2023 | Non-current assets | | 46,023 | | 47,605 | | — | Current assets | | 61,014 | | 64,736 | | — | Total assets | | 107,037 | | 112,341 | | — | Non-current liabilities | | 5,232 | | 4,282 | | — | Current liabilities | | 51,118 | | 54,321 | | — | Total liabilities | | 56,350 | | 58,603 | | — | Equity | | 50,687 | | 53,738 | | — | Revenue | | 114,433 | | 110,261 | | 105,228 | Gross profit | | 45,522 | | 46,380 | | 42,943 | Operating income | | 25,904 | | 26,650 | | 25,319 | Financial results | | 1,548 | | 1,426 | | 656 | Income tax | | (5,061) | | (2,809) | | (2,455) | Net income | | 22,391 | | 25,267 | | 23,520 | Other comprehensive (loss) / income for the year | | (174) | | (94) | | 80 | Total comprehensive income for the year | | 22,217 | | 25,173 | | 23,600 | Dividends paid | | (25,266) | | (23,520) | | (20,308) | | | | | | | | Increase / (decrease) in cash | | | | | | | Provided by operating activities | | 25,348 | | 35,168 | | 35,891 | Used in investing activities | | (2,547) | | (4,887) | | (5,382) | Used in financing activities | | (29,565) | | (31,044) | | (27,337) |
| | | | | | | | | ICAB | | | December 31, | | December 31, | | December 31, | | | 2025 | | 2024 | | 2023 | Non-current assets | | 488,702 | | 460,853 | | — | Current assets | | 109,656 | | 63,567 | | — | Total assets | | 598,358 | | 524,420 | | — | Non-current liabilities | | 781,473 | | 703,624 | | — | Current liabilities | | 278,941 | | 180,425 | | — | Total liabilities | | 1,060,414 | | 884,049 | | — | Equity | | (462,056) | | (359,629) | | — | Revenue | | 118,527 | | 108,991 | | 100,252 | Gross profit | | 47,693 | | 40,646 | | 31,262 | Operating income | | 39,957 | | 50,539 | | 37,816 | Financial results | | (95,610) | | (99,915) | | (102,953) | Income tax | | — | | (33,332) | | 3,250 | Net loss | | (55,653) | | (82,708) | | (61,887) | Other comprehensive (loss) / income for the year | | (46,774) | | 92,353 | | (25,918) | Total comprehensive (loss) / income for the year | | (102,427) | | 9,645 | | (87,805) | | | | | | | | Increase / (decrease) in cash | | | | | | | Provided by operating activities | | 70,428 | | 16,423 | | 6,876 | Used in investing activities | | (137) | | (40) | | (16) | Used in financing activities | | (28,093) | | (29,942) | | (12,784) |
| | | | | | | | | AA2000 | | | December 31, | | December 31, | | December 31, | | | 2025 | | 2024 | | 2023 | Non-current assets | | 1,848,888 | | 1,993,898 | | — | Current assets | | 245,608 | | 240,235 | | — | Total assets | | 2,094,496 | | 2,234,133 | | — | Non-current liabilities | | 764,602 | | 845,739 | | — | Current liabilities | | 274,487 | | 250,925 | | — | Total liabilities | | 1,039,089 | | 1,096,664 | | — | Equity | | 1,055,407 | | 1,137,469 | | — | Revenue | | 1,059,926 | | 1,038,928 | | 635,563 | Gross profit | | 350,903 | | 308,766 | | 218,246 | Operating income | | 253,346 | | 226,879 | | 170,714 | Financial results | | (72,049) | | 286,863 | | (211,898) | Income tax | | (37,015) | | (230,512) | | 52,912 | Net income | | 144,282 | | 283,230 | | 11,728 | Other comprehensive (loss) / income for the year | | (76,157) | | 387,669 | | (250,002) | Total comprehensive income / (loss) for the year | | 68,125 | | 670,899 | | (238,274) | Dividends paid | | (119,415) | | (38,084) | | — | | | | | | | | Increase / (decrease) in cash | | | | | | | Provided by operating activities | | 247,631 | | 153,386 | | 192,164 | Used in investing activities | | (29,643) | | (7,152) | | (64,305) | Used in financing activities | | (248,522) | | (117,602) | | (74,050) |
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