Investments - Poland

PRB monitoring

• PANSA planned a total asset value for new investments in RP4 of 115.8M€2022, of which 50.8% relates to new major investments. PANSA planned 5 new major investments for RP4, of which 3 have started and 2 have not yet started. PANSA reported 1 additional major investment not foreseen as part of the performance plan which has started.

• In 2025, PANSA underspent -0.01M€2022 (-3.3%) in costs related to new major investments. This is mainly attributable to the virtualisation of ANS project.

• According to the reporting tables, PANSA overspent +0.4M€2022 (+0.8%) in costs related to investments in 2025.

• PANSA reported 5.3M€2022 in funding from Union assistance programmes in 2025.

Value of the assets for New Investments included in the Performance Plan Poland | PANSA and comparison with Union-wide

Determined and additional asset value by investment category

Total value of the asset for new investments (M€2022)	115.76	% of total
New major investments (above 5M€ each)	58.86	51%
Included in the performance plan	58.86	51%
Additional	0.00	0%
Other new investments (below 5M€ each)	56.90	49%

PANSA asset value of new investments compared to Union-wide (%)

2.4%

Determined asset value: en route and terminal

Total value of the asset for new major investments (M€2022)1	58.86	% of total
En route	31.68	54%
Terminal	27.18	46%
1 For investments where the allocation has not been clearly provided, an allocation has been assumed based on available information.

Determined asset value by type of investment

New ATM system	4.40
Overhaul of existing ATM system	0.00
Other ATM	0.00
CNS	0.00
Infrastructure	40.06
Ancillary	0.00
Other	45.28
Unknown	0.00
1 When summing the assets for new major investments by investment type, the total may differ from the overall asset value for new major investments, as some investments have been categorised under multiple investment types.

Costs related to investments included in the Performance Plan Poland | PANSA

New and existing investments

Determined costs	2025D	2026D	2027D	2028D	2029D	RP4
Total costs of new and existing investments (M€2022)	49.20	53.27	54.93	60.20	62.09	279.68
New major investments from RP4	0.21	1.35	2.89	6.39	7.33	18.17
Other new investments from RP4	0.34	1.64	3.55	5.64	6.96	18.14
Major investments from RP3	12.99	15.52	17.35	18.59	20.25	84.70
Existing investments from previous RPs	35.66	34.71	30.70	28.82	26.81	156.69
Additional major investments	0.00	0.04	0.44	0.77	0.73	1.99

Actual costs	2025A	2026A	2027A	2028A	2029A	RP4
Total costs of new and existing investments (M€2022)	49.59	NA	NA	NA	NA	49.59
New major investments from RP4	0.20	NA	NA	NA	NA	0.20
Other new investments from RP4	0.52	NA	NA	NA	NA	0.52
Major investments from RP3	12.78	NA	NA	NA	NA	12.78
Existing investments from previous RPs	36.10	NA	NA	NA	NA	36.10
Additional major investments	0.00	NA	NA	NA	NA	0.00

Difference (A-D)	2025	2026	2027	2028	2029	RP4
Total difference (M€2022)	0.39	NA	NA	NA	NA	NA
New major investments from RP4	(0.01)	NA	NA	NA	NA	NA
% change of actual with respect to determined	-3%	NA	NA	NA	NA	NA
Other new investments from RP4	0.17	NA	NA	NA	NA	NA
% change of actual with respect to determined	+50%	NA	NA	NA	NA	NA
Major investments from RP3	(0.21)	NA	NA	NA	NA	NA
% change of actual with respect to determined	-2%	NA	NA	NA	NA	NA
Existing investments from previous RPs	0.43	NA	NA	NA	NA	NA
% change of actual with respect to determined	+1%	NA	NA	NA	NA	NA
Additional major investments	0.00	NA	NA	NA	NA	NA
% change of actual with respect to determined	NA	NA	NA	NA	NA	NA

Costs of investments by nature - En route

Determined costs	2025	2026	2027	2028	2029	RP4
Total costs of new and existing investments (M€2022)	40.55	43.87	45.08	47.88	49.26	226.64
Depreciation	23.37	26.02	26.86	29.50	31.11	136.86
Cost of capital	15.20	15.73	16.18	16.47	16.25	79.84
Cost of leasing	1.97	2.12	2.03	1.92	1.90	9.94

Actual costs	2025	2026	2027	2028	2029	RP4
Total costs of new and existing investments (M€2022)	40.68	NA	NA	NA	NA	40.68
Depreciation	23.79	NA	NA	NA	NA	23.79
Cost of capital	15.10	NA	NA	NA	NA	15.10
Cost of leasing	1.79	NA	NA	NA	NA	1.79

Difference (A-D)	2025	2026	2027	2028	2029	RP4
Total difference (M€2022)	0.13	NA	NA	NA	NA	NA
Depreciation	0.42	NA	NA	NA	NA	NA
Cost of capital	(0.11)	NA	NA	NA	NA	NA
Cost of leasing	(0.18)	NA	NA	NA	NA	NA

Costs of investments by nature - Terminal

Determined costs	2025	2026	2027	2028	2029	RP4
Total costs of new and existing investments (M€2022)	8.65	9.35	9.41	11.55	12.09	51.05
Depreciation	5.22	5.66	5.41	7.35	8.02	31.66
Cost of capital	2.87	3.08	3.42	3.66	3.54	16.56
Cost of leasing	0.57	0.61	0.58	0.54	0.53	2.82

Actual costs	2025	2026	2027	2028	2029	RP4
Total costs of new and existing investments (M€2022)	8.91	NA	NA	NA	NA	8.91
Depreciation	5.36	NA	NA	NA	NA	5.36
Cost of capital	2.83	NA	NA	NA	NA	2.83
Cost of leasing	0.72	NA	NA	NA	NA	0.72

Difference (A-D)	2025	2026	2027	2028	2029	RP4
Total difference (M€2022)	0.26	NA	NA	NA	NA	NA
Depreciation	0.14	NA	NA	NA	NA	NA
Cost of capital	(0.04)	NA	NA	NA	NA	NA
Cost of leasing	0.16	NA	NA	NA	NA	NA

Costs by new major investments

Determined costs	2025	2026	2027	2028	2029	RP4
Total costs of major investments in RP4 (M€2022)	0.21	1.35	2.89	6.39	7.33	18.17
IL430502_Integrated_TWR_System	0.00	0.00	0.00	0.09	0.39	0.48
IL440512_New_Warsaw_Tower_Solutions	0.00	0.07	0.87	2.62	2.92	6.47
IR470208_Virtualisation_of_ANS	0.05	0.30	0.48	1.05	1.20	3.09
IT480904_AV_Recording	0.15	0.56	0.63	0.75	0.72	2.81
IZ440609_Replacement_VCS_System_Warszawa	0.00	0.43	0.91	1.88	2.11	5.32

Actual costs	2025	2026	2027	2028	2029	RP4
Total costs of major investments in RP4 (M€2022)	0.20	NA	NA	NA	NA	0.20
IL430502_Integrated_TWR_System	0.00	NA	NA	NA	NA	0.00
IL440512_New_Warsaw_Tower_Solutions	0.04	NA	NA	NA	NA	0.04
IR470208_Virtualisation_of_ANS	0.02	NA	NA	NA	NA	0.02
IT480904_AV_Recording	0.14	NA	NA	NA	NA	0.14
IZ440609_Replacement_VCS_System_Warszawa	0.00	NA	NA	NA	NA	0.00

Difference (A-D)	2025	2026	2027	2028	2029	RP4
Total difference (M€2022)	(0.01)	NA	NA	NA	NA	NA
IL430502_Integrated_TWR_System	0.00	NA	NA	NA	NA	NA
IL440512_New_Warsaw_Tower_Solutions	0.04	NA	NA	NA	NA	NA
IR470208_Virtualisation_of_ANS	(0.03)	NA	NA	NA	NA	NA
IT480904_AV_Recording	(0.02)	NA	NA	NA	NA	NA
IZ440609_Replacement_VCS_System_Warszawa	0.00	NA	NA	NA	NA	NA

Costs by Common Project One (CP1) ATM Functionality (AF)

Determined costs	2025	2026	2027	2028	2029	RP4
Total costs of new and existing investments (M€2022)	4,396.98	4,470.49	3,266.85	3,180.34	3,471.62	18,786.28
CP1-AF1	0.00	0.00	0.00	0.00	0.00	0.00
CP1-AF2	638.57	476.13	470.24	530.07	817.55	2,932.56
CP1-AF3	1,934.87	1,914.84	1,055.24	1,024.29	999.45	6,928.69
CP1-AF4	554.68	535.97	452.78	348.76	308.42	2,200.61
CP1-AF5	858.78	1,158.05	1,288.59	1,277.21	1,346.19	5,928.82
CP1-AF6	410.09	385.50	0.00	0.00	0.00	795.59

Actual costs	2025	2026	2027	2028	2029	RP4
Total costs of new and existing investments (M€2022)	3,593.53	NA	NA	NA	NA	3,593.53
CP1-AF1	0.00	NA	NA	NA	NA	0.00
CP1-AF2	621.04	NA	NA	NA	NA	621.04
CP1-AF3	1,681.22	NA	NA	NA	NA	1,681.22
CP1-AF4	336.94	NA	NA	NA	NA	336.94
CP1-AF5	549.03	NA	NA	NA	NA	549.03
CP1-AF6	405.30	NA	NA	NA	NA	405.30

Difference (A-D)	2025	2026	2027	2028	2029	RP4
Total difference (M€2022)	(803.45)	NA	NA	NA	NA	NA
CP1-AF1	0.00	NA	NA	NA	NA	NA
CP1-AF2	(17.53)	NA	NA	NA	NA	NA
CP1-AF3	(253.65)	NA	NA	NA	NA	NA
CP1-AF4	(217.74)	NA	NA	NA	NA	NA
CP1-AF5	(309.75)	NA	NA	NA	NA	NA
CP1-AF6	(4.79)	NA	NA	NA	NA	NA

Costs by Strategic Deployment Objective (SDO)

Determined costs	2025	2026	2027	2028	2029	RP4
Total costs of new and existing investments (M€2022)	23,435.05	29,764.19	35,922.03	42,345.14	46,301.60	177,768.01
Total costs SDO – 1	111.27	144.32	437.75	1,157.49	1,410.37	3,261.19
Total costs SDO – 2	300.24	346.13	497.23	684.60	792.36	2,620.56
Total costs SDO – 3	1,963.60	2,299.33	2,624.24	2,992.58	3,448.89	13,328.63
Total costs SDO – 4	1,484.64	1,821.80	2,549.15	2,465.00	2,591.27	10,911.85
Total costs SDO – 5	1,437.29	1,785.70	2,507.25	2,500.94	2,581.80	10,812.98
Total costs SDO – 6	2,072.11	3,121.06	4,584.05	6,467.71	7,207.19	23,452.12
Total costs SDO – 7	0.00	0.00	0.00	0.00	0.00	0.00
Total costs SDO – 8	1,712.88	2,190.99	2,605.68	3,199.19	3,553.42	13,262.16
Total costs SDO – 9	14,100.41	17,727.34	19,759.46	22,485.29	24,291.58	98,364.08
Total costs SDO – 10	252.62	327.52	357.22	392.35	424.73	1,754.44

Actual costs	2025	2026	2027	2028	2029	RP4
Total costs of new and existing investments (M€2022)	25,232.64	NA	NA	NA	NA	25,232.64
Total costs SDO – 1	85.76	NA	NA	NA	NA	85.76
Total costs SDO – 2	125.15	NA	NA	NA	NA	125.15
Total costs SDO – 3	1,824.57	NA	NA	NA	NA	1,824.57
Total costs SDO – 4	1,823.48	NA	NA	NA	NA	1,823.48
Total costs SDO – 5	1,847.33	NA	NA	NA	NA	1,847.33
Total costs SDO – 6	2,809.60	NA	NA	NA	NA	2,809.60
Total costs SDO – 7	0.00	NA	NA	NA	NA	0.00
Total costs SDO – 8	1,913.73	NA	NA	NA	NA	1,913.73
Total costs SDO – 9	14,476.75	NA	NA	NA	NA	14,476.75
Total costs SDO – 10	326.27	NA	NA	NA	NA	326.27

Difference (A-D)	2025	2026	2027	2028	2029	RP4
Total difference (M€2022)	1797.59	NA	NA	NA	NA	NA
Total costs SDO – 1	(25.51)	NA	NA	NA	NA	NA
Total costs SDO – 2	(175.09)	NA	NA	NA	NA	NA
Total costs SDO – 3	(139.02)	NA	NA	NA	NA	NA
Total costs SDO – 4	338.84	NA	NA	NA	NA	NA
Total costs SDO – 5	410.04	NA	NA	NA	NA	NA
Total costs SDO – 6	737.50	NA	NA	NA	NA	NA
Total costs SDO – 7	0.00	NA	NA	NA	NA	NA
Total costs SDO – 8	200.85	NA	NA	NA	NA	NA
Total costs SDO – 9	376.34	NA	NA	NA	NA	NA
Total costs SDO – 10	73.64	NA	NA	NA	NA	NA

Expected benefit and impact per new major investment Poland | PANSA

New major investments	SES mandated	Partnership
IL430502_Integrated_TWR_System
IL440512_New_Warsaw_Tower_Solutions
IR470208_Virtualisation_of_ANS
IT480904_AV_Recording	X
IZ440609_Replacement_VCS_System_Warszawa

Public funding granted for total CAPEX (CEF/TEN-T)