#12019 Annual Meeting of Stockholders June 12, 2019 Doug Parker Chairman and Chief Executive Officer American Airlines Group Inc. 470.00#2Cautionary Statement Regarding Forward-Looking Statements and Information This document includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by words such as “may,” “will," "expect," "intend," "anticipate," "believe," "estimate," "plan," "project," "could," "should," "would," "continue," "seek," "target," "guidance," "outlook," "if current trends continue," "optimistic," "forecast" and other similar words. Such statements include, but are not limited to, statements about future financial and operating results, the Company's plans, objectives, estimates, expectations, and intentions, estimates and strategies for the future, and other statements that are not historical facts. These forward-looking statements are based on the Company's current objectives, beliefs and expectations, and they are subject to significant risks and uncertainties that may cause actual results and financial position and timing of certain events to differ materially from the information in the forward- looking statements. These risks and uncertainties include, but are not limited to, those set forth in the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2019 (especially in Part I, Item 2 Management's Discussion and Analysis of Financial Condition and Results of Operations and Part II, Item 1A, Risk Factors and in the Company's other filings with the Securities and Exchange Commission ("SEC"), and other risks and uncertainties listed from time to time in the Company's other filings with the SEC. There may be other factors of which the Company is not currently aware that may affect matters discussed in the forward-looking statements and may also cause actual results to differ materially from those discussed. The Company does not assume any obligation to publicly update or supplement any forward-looking statement to reflect actual results, changes in assumptions or changes in other factors affecting these forward-looking statements other than as required by law. Any forward-looking statements speak only as of the date hereof or as of the dates indicated in the statements.#3Highlights of 2018 Pre-tax profit, excluding net special items, of $2.8 billion¹, pre-tax margin, excluding net special items, of 6.3 percent¹ Invested more than $800 million in facilities and equipment Took delivery of 23 new mainline replacement aircraft Launched service on 86 new routes to 14 new destinations including Reykjavik, Budapest and Prague ● ● ● ● ● Returned $986 million to shareholders in the form of dividends and share repurchases 1/ Excludes net special items. Please refer to the Company's GAAP to Non-GAAP reconciliation in the appendix.#4Make Culture a Competitive Advantage Build American Airlines to Thrive Forever Create a World-Class Customer Experience American Airlines#5One Team, One Plan 2019 Build American Airlines to Thrive Forever ▸ Execute against profitability improvement initiatives Achieve $1 billion of revenue improvements through network enhancements, merchandising and product segmentation • Deliver $300 million of cost savings by eliminating post-merger cost redundancies ▸ Meet key 2019 financial objectives • Improve earnings per share by 40% • Grow total RASM at a rate greater than the industry • Contain CASM (ex-fuel and ex-new labor deals) growth to 2% or lower • Grow pre-tax profit margin rate and produce total shareholder returns above industry ► Ensure strong balance sheet • Maintain industry-leading liquidity level of $7 billion • Reduce total adjusted debt • Complete long-term aircraft financings at competitive rates ► Think forward, lead forward • Advance long-term, state-of-the-art airport development efforts at hubs and gateways • Roll out American's Why and integrated brand positioning Make Culture a Competitive Advantage ▸ Run the safest and most reliable operation in our history ► Continue to create an environment that cares for our frontline Team Members • Deliver technology efforts faster and build next-generation solutions . Strengthen industry-leading global alliance position by receiving approval for joint business agreements with Qantas and Aer Lingus, progressing approvals for LATAM and expanding China Southern relationship • Increase recognition tool usage by 10 points and roll out new recognition platform • Introduce new uniforms with highest levels of safety, comfort, durability and brand integrity • Continue education on optimal medical benefit utilization and increase wellness program enrollments and clinic utilization • Reduce on-the-job injuries • Provide crew support team with improved tools to deliver outstanding service to Team Members • Be important partners in our communities and support Team Members' enormous giving spirits • Care for Team Members who experience difficult life circumstances • Update and continue American Voice action plans based on 2018 feedback ► Ensure total compensation and benefits are in line with industry leaders • Achieve a joint CBA with Fleet Service and Maintenance teams • Propose industry-leading offers for pilot and flight attendant teams with the goal of completing CBAs before contract amendable dates. • Ensure non-contract, merit-based Team Members are competitively compensated ▸ Become leaders in diversity, inclusion and equality . Continue implementation of gold standard action plan • Launch in-person implicit bias training for all Team Members: • Support the important work of our Employee Business Resource Groups ▸ Develop servant leaders who are trained and equipped to lead • Ensure 100% manager and above completion of Inspire training • Achieve high usage of the talent performance process and tool ▸ Ensure Team Members' workspaces reflect our commitment to their care • Invest more than $250 million in frontline Team Member facilities in 2019 • Progress One Campus, One Team (OCOT) and complete support team move • Advance Hospitality and Mobility projects on budget and continue development of subsequent OCOT phases Create a World-Class Customer Experience ▸ Run safest and most reliable operation in our history • Achieve improved operational metrics, including: - System D-0 of 69.7% - System T-0 of 76.4% - Company's lowest AOS at 0700 - 99.6% controllable completion factor ▸ Enhance inflight product on industry's most modern fleet . Complete installation of industry-leading Wi-Fi and live TV on Boeing 737 and Airbus A320 family aircraft and installation of Premium Economy by end of 20 • Expand in-seat power to 88% of our aircraft Complete installation of industry-leading overhead bin space on 32% of mainline narrowbody aircraft ▸ Strengthen consumer value of our global network • Add 15 new gates at DFW and four at CLT • Enhance customer experience with global joint business partners ► Deliver customer-focused airport and world-class lounge construction and development at BOS, DCA, DFW, LAX, LGA and SFO on time and on budget ► Improve Likelihood to Recommend scores to best in company history American Airlines#6Create a World-Class Customer Experience American Airlines#7Run the Most Reliable Operation in Our History LOWEST AOS AT 0700 SYSTEM T-O 76.4% 01 03 02 04 SYSTEM D-0 69.7% CONTROLLABLE COMPLETION FACTOR 99.6%#8Enhance the In-Flight Product on the Industry's Most Modern Fleet Reserved for Main Cabin Extra