​

​

⁽¹⁾In order to determine the net taxable income of CAAP’s Argentine subsidiaries at the end of each year, the tax inflation adjustment determined in accordance with articles No. 95 to No. 98 of the income tax law has been incorporated into the tax results for a total amount of USD 43,810 as of December 31, 2025 (USD 167,973 and USD 114,289 as of December 31, 2024 and 2023 respectively), due to the fact that as of December 31, 2025, 2024 and 2023 the accumulated price index variation for the last 36 months has already exceeded 100%. Likewise, the income tax law allowed the deferral of the charge generated until 2020 by the tax inflation adjustment in six consecutive years. For 2025 the tax inflation adjustment is applicable as the accumulated inflation of the last three years is greater than 100%, and the adjustment resulting from this procedure was recognized as a current tax of the year. As consequence, as of December 31, 2025, USD 43,810 (USD 167,973 and USD 114,289 as of December 31, 2024 and 2023 respectively) was recognized as a reduction of current tax losses in deferred tax.

​

⁽²⁾Corresponds to the asset revaluation for tax purpose included in Law No. 27.430 of Argentina. As of March 29, 2019, AA2000 start exercising the option of the asset revaluation for tax purposes.

​

⁽³⁾On May 23, 2022, AA2000 filed tax returns for year 2021, reporting tax losses from previous years in accordance with the mechanism provided by the tax laws in Argentina. As of December 31, 2025, the taxable base of the historical tax carryforward losses (excluding the result of the current fiscal year) amounts to ARS 72,777 million, equivalent to USD 50.0 million, (ARS 75,345 million, equivalent to USD 73.0 million, as of December 31, 2024 and ARS 38,585 million, equivalent to USD 47.7 million, as of December 31, 2023) and adjusted by inflation to ARS 167,854 million, equivalent to USD 115.4 million, (ARS 138,781 million, equivalent to USD 134.5 million, as of December 31, 2024 and ARS 255,660 million, equivalent to USD 316.2 million, as of December 31, 2023). AA2000 also made a filing before AFIP, under tax secrecy protection provided by law, in order to preserve its rights in a transparency framework. AA2000’s management, with the assistance of its legal and tax advisors, believe that the arguments raised before AFIP are closely related to those considered by the court in similar procedures, and therefore, it has solid arguments to support the applied criteria.

⁽⁴⁾Mainly temporary differences for which no deferred income tax has been recognized from Brazilian concessions. Additionally, as of December 31, 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.

⁽⁵⁾On November 9, 2022, PDS was granted by Government of Uruguay tax exemptions related to investments to be made in connection with the development and expansion of new airports (Note 26.b) and the rest of the capex program of PDS managed by CAAP until the expiry of the concession in 2053. The exemptions include VAT and customs duties otherwise applied to construction costs as well as exemptions of income tax for a 25 year period, starting in 2022.

​

⁽⁶⁾Until May 2025, TAGSA benefited from the tax-free zone concession it had obtained for a 20‑year term, which remained in effect until June 3, 2025, resulting in a decrease in the non-taxable income in 2025. As of December 31, 2023 includes USD 35.3 million related to the reversal of the impairment of intangible assets of ICASGA.