2023 UNIVERSAL REGISTRATION DOCUMENT

EU Taxonomy activities (in € millions)	*Objective^()**	Eligible CapEx in 2023	Eligible CapEx in 2023 (%)	Aligned CapEx in 2023	Aligned CapEx in 2023 (%)	Aligned CapEx in 2022 (%)	Aligned CapEx / Eligible CapEx in 2023
4.1 Electricity generation using solar photovoltaic technology	4.1 Electricity generation using solar photovoltaic technology *Objective^()** CCM	4.1 Electricity generation using solar photovoltaic technology Eligible CapEx in 2023 411	4.1 Electricity generation using solar photovoltaic technology Eligible CapEx in 2023 (%) 9%	4.1 Electricity generation using solar photovoltaic technology Aligned CapEx in 2023 411	4.1 Electricity generation using solar photovoltaic technology Aligned CapEx in 2023 (%)9%	4.1 Electricity generation using solar photovoltaic technology Aligned CapEx in 2022 (%) 0%	4.1 Electricity generation using solar photovoltaic technology Aligned CapEx / Eligible CapEx in 2023 100%
6.14 Infrastructure for rail transport	6.14 Infrastructure for rail transport *Objective^()** CCM	6.14 Infrastructure for rail transport Eligible CapEx in 2023 212	6.14 Infrastructure for rail transport Eligible CapEx in 2023 (%) 5%	6.14 Infrastructure for rail transport Aligned CapEx in 2023 182	6.14 Infrastructure for rail transport Aligned CapEx in 2023 (%)4%	6.14 Infrastructure for rail transport Aligned CapEx in 2022 (%) 2%	6.14 Infrastructure for rail transport Aligned CapEx / Eligible CapEx in 2023 86%
6.5 Transport by motorbikes, passenger cars and light commercial vehicles	6.5 Transport by motorbikes, passenger cars and light commercial vehicles *Objective^()** CCM	6.5 Transport by motorbikes, passenger cars and light commercial vehicles Eligible CapEx in 2023 354	6.5 Transport by motorbikes, passenger cars and light commercial vehicles Eligible CapEx in 2023 (%) 8%	6.5 Transport by motorbikes, passenger cars and light commercial vehicles Aligned CapEx in 2023 79	6.5 Transport by motorbikes, passenger cars and light commercial vehicles Aligned CapEx in 2023 (%)2%	6.5 Transport by motorbikes, passenger cars and light commercial vehicles Aligned CapEx in 2022 (%) 1%	6.5 Transport by motorbikes, passenger cars and light commercial vehicles Aligned CapEx / Eligible CapEx in 2023 22%
4.9 Transmission and distribution of electricity	4.9 Transmission and distribution of electricity *Objective^()** CCM	4.9 Transmission and distribution of electricity Eligible CapEx in 2023 92	4.9 Transmission and distribution of electricity Eligible CapEx in 2023 (%) 2%	4.9 Transmission and distribution of electricity Aligned CapEx in 2023 75	4.9 Transmission and distribution of electricity Aligned CapEx in 2023 (%)2%	4.9 Transmission and distribution of electricity Aligned CapEx in 2022 (%) 1%	4.9 Transmission and distribution of electricity Aligned CapEx / Eligible CapEx in 2023 82%
5.9 Material recovery from non-hazardous waste	5.9 Material recovery from non-hazardous waste *Objective^()** CCM	5.9 Material recovery from non-hazardous waste Eligible CapEx in 2023 69	5.9 Material recovery from non-hazardous waste Eligible CapEx in 2023 (%) 1%	5.9 Material recovery from non-hazardous waste Aligned CapEx in 2023 66	5.9 Material recovery from non-hazardous waste Aligned CapEx in 2023 (%)1%	5.9 Material recovery from non-hazardous waste Aligned CapEx in 2022 (%) 1%	5.9 Material recovery from non-hazardous waste Aligned CapEx / Eligible CapEx in 2023 95%
4.3 Electricity generation from wind power	4.3 Electricity generation from wind power *Objective^()** CCM	4.3 Electricity generation from wind power Eligible CapEx in 2023 58	4.3 Electricity generation from wind power Eligible CapEx in 2023 (%) 1%	4.3 Electricity generation from wind power Aligned CapEx in 2023 57	4.3 Electricity generation from wind power Aligned CapEx in 2023 (%)1%	4.3 Electricity generation from wind power Aligned CapEx in 2022 (%) 0%	4.3 Electricity generation from wind power Aligned CapEx / Eligible CapEx in 2023 98%
7.3 Installation, maintenance and repair of energy efficiency equipment	7.3 Installation, maintenance and repair of energy efficiency equipment *Objective^()** CCM	7.3 Installation, maintenance and repair of energy efficiency equipment Eligible CapEx in 2023 72	7.3 Installation, maintenance and repair of energy efficiency equipment Eligible CapEx in 2023 (%) 2%	7.3 Installation, maintenance and repair of energy efficiency equipment Aligned CapEx in 2023 42	7.3 Installation, maintenance and repair of energy efficiency equipment Aligned CapEx in 2023 (%)1%	7.3 Installation, maintenance and repair of energy efficiency equipment Aligned CapEx in 2022 (%) 1%	7.3 Installation, maintenance and repair of energy efficiency equipment Aligned CapEx / Eligible CapEx in 2023 58%
7.7 Acquisition and ownership of buildings	7.7 Acquisition and ownership of buildings *Objective^()** CCM	7.7 Acquisition and ownership of buildings Eligible CapEx in 2023 249	7.7 Acquisition and ownership of buildings Eligible CapEx in 2023 (%) 5%	7.7 Acquisition and ownership of buildings Aligned CapEx in 2023 29	7.7 Acquisition and ownership of buildings Aligned CapEx in 2023 (%)1%	7.7 Acquisition and ownership of buildings Aligned CapEx in 2022 (%) 0%	7.7 Acquisition and ownership of buildings Aligned CapEx / Eligible CapEx in 2023 11%
Other eligible activities	Other eligible activities *Objective^()** CCM	Other eligible activities Eligible CapEx in 2023 458	Other eligible activities Eligible CapEx in 2023 (%) 10%	Other eligible activities Aligned CapEx in 2023 63	Other eligible activities Aligned CapEx in 2023 (%)1%	Other eligible activities Aligned CapEx in 2022 (%) 0%	Other eligible activities Aligned CapEx / Eligible CapEx in 2023 14%
Taxonomy-eligible activities – Climate change objectives	*Taxonomy-eligible activities – Climate change objectivesObjective^()**	Taxonomy-eligible activities – Climate change objectivesEligible CapEx in 20231,973	Taxonomy-eligible activities – Climate change objectivesEligible CapEx in 2023 (%)43%	Taxonomy-eligible activities – Climate change objectivesAligned CapEx in 20231,003	Taxonomy-eligible activities – Climate change objectivesAligned CapEx in 2023 (%)22%	Taxonomy-eligible activities – Climate change objectivesAligned CapEx in 2022 (%)6%	Taxonomy-eligible activities – Climate change objectivesAligned CapEx / Eligible CapEx in 202351%
1.1 Conservation, including restoration, of habitats, ecosystems and species	1.1 Conservation, including restoration, of habitats, ecosystems and species *Objective^()** BIO	1.1 Conservation, including restoration, of habitats, ecosystems and species Eligible CapEx in 2023 7	1.1 Conservation, including restoration, of habitats, ecosystems and species Eligible CapEx in 2023 (%) 0%
2.3 Remediation of legally non-conforming landfills and abandoned or illegal waste dumps	2.3 Remediation of legally non-conforming landfills and abandoned or illegal waste dumps *Objective^()** PPC	2.3 Remediation of legally non-conforming landfills and abandoned or illegal waste dumps Eligible CapEx in 2023 4	2.3 Remediation of legally non-conforming landfills and abandoned or illegal waste dumps Eligible CapEx in 2023 (%) 0%
2.2 Production of alternative water resources for purposes other than human consumption	2.2 Production of alternative water resources for purposes other than human consumption *Objective^()** CE	2.2 Production of alternative water resources for purposes other than human consumption Eligible CapEx in 2023 3	2.2 Production of alternative water resources for purposes other than human consumption Eligible CapEx in 2023 (%) 0%
2.1 Water supply	2.1 Water supply *Objective^()** WTR	2.1 Water supply Eligible CapEx in 2023 2	2.1 Water supply Eligible CapEx in 2023 (%) 0%
Taxonomy-eligible activities – Other objectives	*Taxonomy-eligible activities – Other objectivesObjective^()**	Taxonomy-eligible activities – Other objectivesEligible CapEx in 202315	Taxonomy-eligible activities – Other objectivesEligible CapEx in 2023 (%)0%
Total eligible activities	*Total eligible activitiesObjective^()**	Total eligible activitiesEligible CapEx in 20231,989	Total eligible activitiesEligible CapEx in 2023 (%)43%	Total eligible activitiesAligned CapEx in 20231,003	Total eligible activitiesAligned CapEx in 2023 (%)22%	Total eligible activitiesAligned CapEx in 2022 (%)	Total eligible activitiesAligned CapEx / Eligible CapEx in 2023
Non-eligible activities	Non-eligible activities *Objective^()**	Non-eligible activities Eligible CapEx in 2023 2,639	Non-eligible activities Eligible CapEx in 2023 (%) 57%
*Total VINCI consolidated CapEx^()**	*Total VINCI consolidated CapEx^()Objective^()*	*Total VINCI consolidated CapEx^()Eligible CapEx in 20234,628**	*Total VINCI consolidated CapEx^()Eligible CapEx in 2023 (%)100%**

(*) Objectives: climate change mitigation (CCM), climate change adaptation (CCA), water and marine resources (WTR), circular economy (CE), pollution prevention and control (PPC), and biodiversity and ecosystems (BIO).

At 31 December 2023, 22% of the Group’s CapEx was aligned, showing sharp growth compared with the 6% of aligned CapEx in 2022. It should be noted that at 31 December 2022, 51% of the Group’s CapEx, i.e. more than €3 billion, related to the value recognised for the concession rights to the airports managed by the Mexican airport operator OMA, acquired in December 2022. Without this major acquisition, VINCI’s aligned CapEx in 2022 would have come out to 12%. The remainder of the increase mainly comes from Cobra IS’s large investments in renewable energy, classified under 4.1 and 4.3, as detailed below:

Activities classified under 4.1 and 4.3: these investments mainly cover aligned activities of Cobra IS to build and operate electricity generation facilities powered by renewable energy sources, either solar, such as the Belmonte power plant in Brazil, or wind.
Activities classified under 6.14: this CapEx relates to aligned VINCI Construction activities in railway infrastructure but also includes VINCI Airports’ investments to build the future London Gatwick airport station.
Activities classified under 5.9: this CapEx mainly corresponds to the percentage of fully recycled asphalt mix that VINCI Autoroutes uses on its road maintenance worksites and, to a lesser extent, to VINCI Construction’s CapEx relating to its aligned aggregate recycling activities.
Activities classified under 4.9: this CapEx relates to VINCI Energies’ electricity transmission and distribution activities.
Activities classified under 7.3: this CapEx relates to aligned activities of VINCI Energies and the Concessions business involving the installation, maintenance and repair of energy efficient equipment in buildings.

Based on the breakdown of long-term lease assets recognised under IFRS 16, two additional activities were identified that contribute significantly to the alignment of the Group’s CapEx:

Activities classified under 6.5: long-term leases of electric or plug-in hybrid vehicles.
Activities classified under 7.7: long-term leases of buildings with an energy performance score of A (only in France).These activities accounted for 94% of VINCI’s aligned investments at 31 December 2023.

When an activity was eligible for multiple objectives, its alignment potential was reviewed for each of them, and the activity was included only under the most relevant objective. For example, the construction of new buildings was classified as contributing to the climate change mitigation objective under 7.1 but could have come under 3.1 as contributing to the circular economy objective.

The table below breaks down the eligibility and alignment of Group CapEx by environmental objective for an overall perspective:

sdnon-inclus	Percentage of CapEx / Total CapEx
non-inclus	Aligned by objective	Eligible by objective
Climate change mitigation	22%	42%
Climate change adaptation	0%	42%
Sustainable use and protection of water and marine resources		0%
Circular economy		7%
Pollution prevention and control		0%
Protection and restoration of biodiversity and ecosystems		0%

2023 UNIVERSAL REGISTRATION DOCUMENT

General and financial elements