#1RYANAIR LOW FARES. MADE SIMPLE. H1 FY18 Results#2Europe's Favourite Airline ✈ Lowest fare/lowest cost carrier - gap widens ✈ No 1, Traffic -FY18 129m (+8%) ✈ No 1, Cover - 87 Bases/208 apts/430 a/c ✈ 240 a/c order = grow to 200m p.a. by FY24 ✈ Rapid recovery of rostering failure in Sep → Slower growth in FY18 & FY19 ✈ H1 profits up 11%; FY guidance unchanged RYANAIR LOW FARES. MADE SIMPLE. falar RYANAIR NEW WOME FYAKER ANAIR 2#3Ryanair Wizz Europe's Lowest Fares Avg. Fare easyJet Norwegian Air Berlin IAG Air France/KLM Lufthansa Avg Competitor Fare (Source: Latest FY results/Annual Reports) RYANAIR LOW FARES. MADE SIMPLE. €41 €51 €77 €78 €115 €198 €215 €218 €136 Change -13% -11% -15% -3% -7% -14% -7% -4% % > Ryanair +24% +88% +90% +180% +383% +424% +432% +232% AUTUMN GETAWAYS EUROPE'S NO.I AIRLINE FROM ONLY Y €16.99€ RYANAIR LOW FARES. MADE SIMPLE. Fares one way. Book by 31/10/17 Travel by 31/03/18. Limited availability. For full T&C's see Ryanair.com 3#4Europe's Lowest Costs (€ p pax ex-fuel) Staff Airport & Hand. Route Charges Own'ship & maint. S & M other Total (PY) % change (reptd.) %> Ryanair (Source: Latest FY results/Annual Reports) RYANAIR LOW FARES. MADE SIMPLE. RYA 5 7 6 6 3 27 (28) -5% WIZ 5 11 6 15 3 40 (40) +1% +48% EZJ 9 21 6 8 7 51 (55) +3% (stg) +89% NOR 15 17 7 26 8 73 (73) +2% +170% AB1 22 28 8 40 33 131 (116) +13% +385% LUV 49 9 0 18 18 94 (92) +2% +248% 4#5Europe's No. 1 Coverage ✈ 87 bases → 208 airports (111 Prim) 33 countries 1,800 routes ✈129m c'mers (FY18) ✈ 430 x B737 fleet ✈240 x B737s on order RYANAIR LOW FARES. MADE SIMPLE. KNOCKO SHANNON KERRY CORK DERRY BELFAST DUBLIN NEWQUAY LANZAROTE TENERIFE (S) TENERIFE (N) GRAN CANARIA OFUERTEVENTURA GLASGOW (1) LISBON LIVERPOOL MANCHESTER TERCEIRA PONTA DELGADA FARO O PORTO CARDIFF SANTIAGOO VIGO AGADIR BIRMINGHAM O GLASGOW (P) BOURNEMOUTH EDINBURGH LONDON (L) BRISTOLO O LONDON (S) LONDON (G) OSEVILLE JEREZ MALAGA O ABERDEEN OEAST MIDLANDS ONEWCASTLE OLEEDS BREST DEAUVILLE DINARD TOURS LORIENT NANTES LA ROCHELLE MARRAKESH OTANGIER RABAT OFEZ CASTELLON 00 POITIERS REUS VALENCIA ALICANTE MURCIA ALMERIA NADOR OUJDA HAUGESUND IBIZA MARSEILLE OSLO (G) U VENICE (M) TRIESTE TIMISOARA CUNEO OPARMA PULA LIMOGES BRIVE BASELO MILAN (B) BERGERAC ST. ETIENNE MILAN (M) VERONA VENICE (T) BORDEAUX O RODEZ GRENOBLE O BIARRITZ TOULOUSE NIMES TURIN SANTANDER MONTPELLIER VITORIA LOURDES CARCASSONNE O VALLADOLID O PERPIGNAN OBEZIERS MADRID O ZARAGOZA BARCELONA (G) BARCELONA (E) FIGARI GENOA NICE MENORCA PALMA TORP AALBORG AARHUS BILLUND HAMBURG BREMEN DUSSELDORF BYDGOSZCZO ODORTMUND BERLIN POZNAN LODZ MAASTRICHT AMSTERDAM EINDHOVEN LILLE BRUSSELS (Z) LEIPZIG WROCLAW BRUSSELS (CO PARIS COLOGNE PRAGUE O LUXEMBOURG VATRYO FRANKFURT (M) FRANKFURT (H) PARDUBICE STRASBOURG STUTTGARTONUREMBERG DOLE BADEN MUNICH CLERMONT MEMMINGEN PISA PERUGIA ROME (F) ALGHERO STOCKHOLM O OCAGLIARI GOTHENBURG COPENHAGEN SZCZECIN BOLOGNA PALERMOO TRAPANIO VÄSTERÅS VÄXJÖ MALMO LAMEZIA KRAKOW OSTRAVA BRNO LINZ BRATISLAVA OSALZBURG COMISO RIJEKA OZADAR MALTA BARI CATANIA KEFALONIA TAMPERE KAUNAS GDANSK O VILNIUS OOLSZTYN-MAZURY WARSAW (M) WARSAW (C) LUBLIN KATOWICE CRAIOVA ANCONA NIŠ PESCARA PODGORICA ROME (C) ONAPLES BRINDISI CORFU O PALANGA BUDAPEST ATHENS LAPPEENRANTA TALLINN RIGA RZESZOW ORADEA BUCHAREST O O CHANIA VARNA SOFIA PLOVDIV BURGAS THESSALONIKI EILAT OYDA TEL AVIV MYKONOS ORHODES SANTORINI LARNACA PAPHOS O 5#6Europe's No. 1 Market Share (15%) Country (Cap m)* UK (139) Spain (132) Germany (131) CEE (105) Italy (96) Greece (29) Portugal (28) Poland (21) Ireland (18) Belgium (17) No. 1 easyJet RYANAIR LOW FARES. MADE SIMPLE. Luft RYANAIR LOW FARES. MADE SIMPLE. RYANAIR LOW FARES. MADE SIMPLE. Aegean TAP RYANAIR LOW FARES. MADE SIMPLE. RYANAIR LOW FARES. MADE SIMPLE. Brussels Air *(Source: CapStats intra EU Depart capacity Apr 17- Mar 18) RYANAIR LOW FARES. MADE SIMPLE. No. 2 RYANAIR LOW FARES. MADE SIMPLE. Vueling AirBerlin Wizz Alitalia RYANAIR LOW FARES. MADE SIMPLE. RYANAIR LOW FARES. MADE SIMPLE. LOT Aer Lingus RYANAIR LOW FARES. MADE SIMPLE. No. 3 BA Iberia RYANAIR LOW FARES. MADE SIMPLE. Aegean easyJet easyJet easyJet Wizz BA Jetairfly Share 17% 18% 9% 15% 27% 11% 20% 29% 47% 28% Monarch = Bankruptcy 6#7H1 Results Customers (m) Load Factor Avg. fare (incl. bag) Revenue (m) Cost Per Pax Profit after tax (m) Net Margin EPS RYANAIR LOW FARES. MADE SIMPLE. Sep 16 64.8 95% €50 €4,132 €43 €1,168 28% €0.92 Sep 17 72.1 96% €47 €4,425 €41 €1,293 29% €1.07 +11% +1% -5% +7% -5% +11% +1ppt +16% 7#8H1 Balance Sheet Assets (incl. a/c) Cash Total Net Debt €244m Liabilities Debt S/H funds Total RYANAIR LOW FARES. MADE SIMPLE. Mar 17 (€m) 7,850 4,140 11,990 3,183 4,384 4,423 11,990 Sep 17 (€m) 8,125 3,577< 11,702 2,791 4,177< 4,734 11,702 Net Debt €600m After €675m capex €639m b/back 8#9Current Developments ✈ Lower fares & AGB drives growth (129m) → Customer initiatives succeeding (97% LF) ✈ Alitalia (24m), AB1 (29m) & Mon (5m) bust ✈ Norwegian (29m pax) in financial trouble ✈ Pilot rostering failure in Sep ✈ Acted to recover in Sep - slow W18 growth → Unchanged FY guidance €1.40bn to €1.45bn ✈ Brexit Apr 2019 disruptions more likely? RYANAIR LOW FARES. MADE SIMPLE. FAST TRACK 9