DUFRY AG Listing of 4,218,750 Registered Shares

DUFRY
CAPITALIZATIO�
The following table sets forth as of June 30, 2008, the actual consolidated capitalization of the Dufry
Group. It should be read in conjunction with the historical consolidated financial statements and the related
notes of the Dufry Group, as well as the other financial statements and information included in this Listing
Prospectus.
21
As at June 30, 2008
(in CHF millions)
Cash and cash equivalents .............................................................................. 145.3
Short- and long-term financial debt ................................................................ 579.3
Total shareholders’ equity .............................................................................. 707.6
Minority interests ............................................................................................ 232.0
Total capitalization ......................................................................................... 1,286.9
HUDSO�
The following table sets forth as of June 30, 2008, the actual consolidated capitalization of the Hudson
Group. It should be read in conjunction with the historical consolidated financial statements and the related
notes of the Hudson Group, as well as the other financial statements and information included in this Listing
Prospectus.
As at June 29, 2008
(in US$ millions)
Cash and cash equivalents .............................................................................. 37.0
Short- and long-term financial debt ................................................................ 390.0
Total shareholders’ equity .............................................................................. 447.4
Minority interests ............................................................................................ 17.6
Total capitalization ......................................................................................... 931.7
DUFRY A�D HUDSO� COMBI�ED
The following table sets forth as of June 29 / 30, 2008, the consolidated capitalization of the Dufry Group
and the Hudson Group combined.
As at June 29 / 30,
2008
(in CHF millions)
Cash and cash equivalents .............................................................................. 183.0
Short- and long-term financial debt ................................................................ 976.7
Total shareholders’ equity .............................................................................. 1,163.5
Minority interests ............................................................................................ 249.9
Total capitalization ......................................................................................... 2,236.3
Based on a CHF:US$ exchange rate of 1.01799 as of June 29, 2008.