Set forth below is a breakdown of EADS’ consolidated EBIT* by division for the past three years.

2006 compared to 2005. EADS’ consolidated EBIT* decreased to €0.4 billion in 2006 from €2.9 billion in 2005, primarily reflecting the loss at Airbus and the impairment and restructuring charges recorded at EADS Sogerma. This decrease was slightly offset by an increase in EBIT* at EADS’ four other operating divisions.

Airbus’ EBIT* decreased to €(0.6) billion in 2006 from €2.3 billion in 2005, primarily reflecting (i) cost overruns, provisions and impairment charges recorded in connection with the A380 programme, (ii) a loss at completion provision recorded in respect of the A400M programme, and (iii) a provision recorded for the buy-out of delivery commitments under firm orders for the former A350 aircraft. See “Overview — Significant Programme and Restructuring Developments in 2006”. Also contributing to the decrease from 2005 to 2006 was (i) an approximate €720 million negative impact of exchange rate effects relating to (x) generally less favourable rates of hedges that matured in 2006 as compared to 2005 (based on Airbus’ 2006 compounded conversion rate of €-U.S.$1.10, as compared to €-U.S.$1.04 in 2005) which had a negative effect of €820 million, and (y) some positive impact of the revaluation of certain assets and liabilities and other currency translation adjustments explained above under “Critical Accounting Considerations, Policies and Estimates — Foreign Currency Translation”, as well as (ii) a €376 million increase in research and development expenses in 2006. The decrease in EBIT* was partially offset by an increase in the number of aircraft delivered (434 in 2006, as compared to 378 in 2005), as well as operational efficiency gains resulting mainly from the “Route 06” cost savings programme totalling approximately €500 million.

The MTA Division’s EBIT* increased to €75 million for 2006 from €48 million for 2005, primarily reflecting the margin impact on revenue recognition for the completion of five milestones under the A400M programme in 2006 (including the positive €17 million EBIT impact from the shift of revenue recognition for one milestone to the first quarter of 2006), compared to only one milestone in 2005.

The Eurocopter Division’s EBIT* increased to €257 million for 2006 from €212 million for 2005, primarily reflecting (i) a record level of deliveries (381 in 2006, as compared to 334 in 2005) with a favourable mix effect, (ii) progress made on military programs and (iii) increased customer support activities. This volume impact was partially offset by (i) a negative effect from the U.S. Dollar, (ii) higher selling and administrative expenses following activity ramp-up and (iii) increased production contract costs related to the NH 90.

The DS Division’s EBIT* increased to €348 million for 2006 from €201 million for 2005, due primarily to (i) improved operating performance, (ii) capital gains in 2006 totalling €127 million (mainly on the sale of LFK GmbH to MBDA), and (iii) €58 million in lower costs in 2006 relating to unmanned aerial vehicles (“UAV”) projects, which in 2005 had a €100 million negative impact on EBIT*. The EBIT* increase was partially offset by restructuring costs that were €73 million higher than in 2005 and by perimeter effects.

Astrium’s EBIT* increased to €130 million for 2006 from €58 million for 2005, primarily reflecting (i) a volume increase relating to progress made on Ariane 5 production, ballistic missile deliveries and Paradigm services and (ii) the positive impact of operational efficiencies derived from prior years’ restructuring efforts.

The EBIT* of Other Businesses decreased by €117 million compared to 2005, to €(288) million. The decrease was primarily due to asset impairment charges and restructuring provisions recorded at EADS Sogerma prior to the sale of its remaining 60% share in Sogerma Services as well as the shares of the subsidiaries Barfield and Sogerma Tunisia to the TAT Group in January 2007. EADS Sogerma recorded EBIT* of €(351) million in 2006 (compared to €(237) million in 2005), with an underlying operation loss of €(96) million in addition to these impairment charges and restructuring provisions. The loss at EADS Sogerma was partially offset by positive EBIT* at ATR, EFW and Socata.

Headquarters/Consolidation EBIT* increased to €449 million for 2006 from €197 million for 2005, primarily reflecting the consolidation reversal of the provision related to the A400M programme recorded at Airbus. See “Overview — Significant Programme and Restructuring Developments in 2006”. Partially offsetting this increase was a decrease in “share of profit from associates accounted for under the equity method” from EADS’ investment in Dassault Aviation, reflecting the absence of a catch-up in 2006 of Dassault Aviation’s 2005 income (as compared to a €64 million catch-up in 2005 for 2004 results).

2005 compared to 2004. EADS’ consolidated EBIT* increased to €2.9 billion for 2005 from €2.4 billion for 2004, primarily reflecting stronger performance at Airbus.

Airbus’ EBIT* increased to €2.3 billion for 2005 from €1.9 billion for 2004, reflecting (i) an increase in the number of aircraft delivered (378 in 2005, as compared to 320 in 2004) and (ii) operational efficiency gains resulting from the “Route 06” cost savings programme implemented in 2002 (totalling €400 million through year-end 2005). Partially offsetting these positive factors was a negative €(670) million exchange rate effect of generally less favourable rates of hedges maturing in 2005 as compared to 2004 (based on Airbus’ 2005 compounded conversion rate of €-U.S.$1.04, as compared to €-U.S.$0.98 in 2004).

The MTA Division’s EBIT* increased to €48 million for 2005 from €26 million for 2004, reflecting a reduction in research and development expense and the non-recurrence in 2005 of early retirement costs recorded in 2004.

EBIT* at the Eurocopter Division increased to €212 million for 2005 from €201 million for 2004, reflecting a 20% increase in deliveries (334 in 2005, as compared to 279 in 2004) and the effects of the first-time consolidation of Australian Aerospace. This volume impact was partially offset by a (i) negative effect from the U.S. Dollar, (ii) a negative mix effect, (iii) higher selling and administrative expenses and (iv) increased R&D expenses for the EC 175.

The DS Division’s EBIT* decreased to €201 million for 2005 from €226 million for 2004 (which included the release of a €106 million provision relating to a concluded litigation with Thales). Despite improved operational performance at the division in 2005, ongoing unmanned aerial vehicles (“UAV”) projects had a €100 million negative impact on 2005 EBIT*. Restructuring expenses were €53 million lower than in 2004, while research and development expenses were €22 million higher.

Astrium’s EBIT* increased to €58 million for 2005 from €9 million for 2004, primarily reflecting (i) the positive impact of operational efficiencies derived from prior years’ restructuring efforts and (ii) the release of an allowance for receivables recorded in 2004 relating to Starsem.

Operational and impairment losses, as well as restructuring charges, at Sogerma in 2005 led to a €173 million decrease in EBIT* of Other Businesses as compared to 2004. The losses at Sogerma widened by €198 million and were partially offset by improved positive EBIT* at ATR, Socata and EFW.

Headquarters/Consolidation EBIT* increased to €197 million for 2005 from €49 million for 2004, primarily reflecting the increase in “share of profit from associates accounted for under the equity method” from EADS’ investment in Dassault Aviation, including a positive €64 million catch-up of Dassault Aviation’s 2004 IFRS results (as compared to a negative €(33) million catch-up in 2004), as well as gains from real estate disposals totalling €31 million.

Hedging Impact on EBIT*. Nearly two-thirds of EADS’ consolidated revenues in 2006 were denominated in currencies other than the Euro. Given the long-term nature of its business cycles (evidenced by its multi- year backlog), EADS hedges a significant portion of its net foreign exchange exposure to mitigate the impact of exchange rate fluctuations on its EBIT*. See “Hedging Activities — Foreign Exchange Rates” and “Financial Market Risks — Exposure to Foreign Currencies”. In addition to the impact that hedging activities have on EADS’ EBIT*, the latter is also affected to a much smaller extent by the impact of revaluation of certain trade assets and liabilities at the closing rate and currency translation adjustments related to Airbus.

During 2006, cash flow hedges covering approximately U.S.$14.7 billion of EADS’ U.S. Dollar-denominated revenues matured. In 2006, the compounded exchange rate at which hedged U.S. Dollar-denominated revenues were accounted for was €-U.S.$1.12, as compared to €-U.S.$1.06 in 2005. This difference resulted in an approximate €900 million decrease in EBIT* from 2005 to 2006, of which approximately €820 million was at Airbus. This decrease was partially offset by the €100 million positive impact of the revaluation of certain assets and liabilities and other currency translation adjustments at Airbus.

During 2005, cash flow hedges covering approximately U.S.$12.7 billion of EADS’ U.S. Dollar-denominated revenues matured. In 2005, the compounded exchange rate at which hedged U.S. Dollar-denominated revenues were accounted for was €-U.S.$1.06, as compared to €-U.S.$0.99 in 2004. This difference resulted in a €720 million decrease in EBIT* from 2004 to 2005, of which approximately €648 million was at Airbus.

The tables below set forth the notional amount of foreign exchange hedges in place as of 31^st December 2006, and the average U.S. Dollar rates applicable to corresponding EBIT*.

Restructuring. Total restructuring charges of €168 million were recorded in 2006, compared to €62 million in 2005. For 2006, this included new provisions and current year charges primarily related to (i) the DS Division (€108 million), (ii) restructuring at Sogerma (€42 million), and (iii) Headquarters (€18 million). The related, yet to be implemented, restructuring burden is mainly accounted for at year-end both as a provision and as other liabilities.