Registration Document 2016 - 1

REGISTRATION DOCUMENT 2016 AIRBUS REGISTRATION DOCUMENT 2016 - 1 Airbus Group SE (the “Company”) is a European public company (Societas Europaea), with its seat in Amsterdam, The Netherlands, which is listed in France, Germany and Spain. The applicable regulations with respect to public information and protection of investors, as well as the commitments made by the Company to securities and market authorities, are described in this Registration Document (the “Registration Document”). In 2017, the Company continues to further integrate by merging its Group structure with the commercial aircraft activities of Airbus, with associated restructuring measures. The merger is contemplated to take place mid-2017. In this new set-up, the Company will retain Airbus Defence and Space and Airbus Helicopters as Divisions. See “— Information on Airbus Activities — 1.1.1 Overview”. In 2016, there are no changes to the segment reporting. Nevertheless as a result of the relabelling to a single Airbus brand, the Company together with its subsidiaries will be referred to as “Airbus” and no longer the Group. Consequently, the segment formerly known as Airbus is referred to as “Airbus Commercial Aircraft” for the purpose of 2016 financial reporting. See “— Management’s Discussion and Analysis of Financial Condition and Results of Operations — 2.1.1.2 Reportable Business Segments”. The Company will change its name to Airbus SE; the legal name change from Airbus Group SE to Airbus SE is still subject to the approval of the Annual General Meeting (“AGM”) due to be held on 12 April 2017. In addition to historical information, this Registration Document includes forward-looking statements. The forward-looking statements are generally identified by the use of forward-looking words, such as “anticipate”, “believe”, “estimate”, “expect”, “intend”, “plan”, “project”, “predict”, “will”, “should”, “may” or other variations of such terms, or by discussion of strategy. These statements relate to the Company’s future prospects, developments and business strategies and are based on analyses or forecasts of future results and estimates of amounts not yet determinable. These forward-looking statements represent the view of the Company only as of the dates they are made, and the Company disclaims any obligation to update forward-looking statements, except as may be otherwise required by law. The forward-looking statements in this Registration Document involve known and unknown risks, uncertainties and other factors that could cause the Company’s actual future results, performance and achievements to differ materially from those forecasted or suggested herein. These include changes in general economic and business conditions, as well as the factors described under “Risk Factors” below. This Registration Document was prepared in accordance with Annex 1 of EC Regulation No. 809 / 2004, filed in English with, and approved by, the Autoriteit Financiële Markten (the “AFM”) on 4 April 2017 in its capacity as competent authority under the Wet op het financieel toezicht (as amended) pursuant to Directive 2003 / 71 / EC. This Registration Document may be used in support of a financial transaction as a document forming part of a prospectus in accordance with Directive 2003 / 71 / EC only if it is supplemented by a securities note and a summary approved by the AFM. This Registration Document is dated 4 April 2017. AIRBUS REGISTRATION DOCUMENT 2016 - 2 Registration Document l 2016 l Risk Factors ..................................................................................................................................................... 4 1. Information on Airbus Activities .............................................................................................................. 16 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations ........... 47 3. General Description of the Company and its Share Capital ................................................................. 67 4. Corporate Governance .............................................................................................................................. 86 5. Entity Responsible for the Registration Document ............................................................................. 135 AIRBUS REGISTRATION DOCUMENT 2016 - 3 Risk Factors The Company is subject to many risks and uncertainties that may affect its financial performance. The business, results of operation or financial condition of the Company could be materially adversely affected by the risks described below. These are not the only risks the Company faces. Additional risks and uncertainties not presently known to the Company or that it currently considers immaterial may also impair its business and operations. 1. Financial Market Risks Global Economic Concerns As a global company, the Company’s operations and performance depend significantly on market and economic conditions in Europe, the US, Asia and the rest of the world. Market disruptions and significant economic downturns may develop quickly due to, among other things, crises affecting credit or liquidity markets, regional or global recessions, sharp fluctuations in commodity prices (including oil), currency exchange rates or interest rates, inflation or deflation, sovereign debt and bank debt rating downgrades, restructurings or defaults, or adverse geopolitical events (including the impact of Brexit, discussed below, US policy and elections in Europe). Any such disruption or downturn could affect the Company’s activities for short or extended periods and have a negative effect on the Company’s future results of operation and financial condition. Two geopolitical events in 2016 in particular could cause potential disruptions to and create uncertainty surrounding the Company’s business, including affecting our relationships with our existing and future customers, suppliers and employees: (i) the public referendum in June 2016 where a majority of UK voters approved leaving the European Union (commonly referred to as “Brexit”) and (ii) the US presidential election in November 2016. Although the terms of the UK's post-Brexit relationship with the EU are still unknown, the Company may be affected by potentially divergent national laws and regulations between the EU and the UK. This may include greater restrictions on the importing and exporting of goods and services between the UK and EU countries in which the Company operates along with costly new tariffs and increased regulatory and legal complexities. The free movement of people and skilled labour may also be limited by new border controls. The results of the US presidential election have introduced greater uncertainty with respect to US tax and trade policies, tariffs and government regulations affecting trade between the US and other countries. Although it is too early for the impact of these geopolitical events to be reasonably assessed, the consequences could have a negative effect on the Company’s financial condition and results of operations. If economic conditions were to deteriorate, or if more pronounced market disruptions were to occur, there could be a new or incremental tightening in the credit markets, low liquidity, and extreme volatility in credit, currency, commodity and equity markets. This could have a number of effects on the Company’s business, including: • requests by customers to postpone or cancel existing orders for aircraft (including helicopters) or decisions by customers to review their order intake strategy due to, among other things, lack of adequate credit supply from the market to finance aircraft purchases or change in operating costs or weak levels of passenger demand for air travel and cargo activity more generally; • an increase in the amount of sales financing that the Company must provide to its customers to support aircraft purchases, thereby increasing its exposure to the risk of customer defaults despite any security interests the Company might have in the underlying aircraft; • further reductions in public spending for defence, homeland security and space activities, which go beyond those budget consolidation measures already proposed by governments around the world; • financial instability, inability to obtain credit or insolvency on the part of key suppliers and subcontractors, thereby impacting the Company’s ability to meet its customer obligations in a satisfactory and timely manner; • continued de-leveraging as well as mergers, rating downgrades and bankruptcies of banks or other financial institutions, resulting in a smaller universe of counterparties and lower availability of credit, which may in turn reduce the availability of bank guarantees needed by the Company for its businesses or restrict its ability to implement desired foreign currency hedges; • default of investment or derivative counterparties and other financial institutions, which could negatively impact the Company’s treasury operations including the cash assets of the Company; and • decreased performance of Airbus’ cash investments due to low and partly negative interest rates. The Company’s financial results could also be negatively affected depending on gains or losses realised on the sale or exchange of financial instruments; impairment charges resulting from revaluations of debt and equity securities and other investments; interest rates; AIRBUS REGISTRATION DOCUMENT 2016 - 4 cash balances; and changes in fair value of derivative instruments. Increased volatility in the

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