#11HFY22 Financial Results Presentation 25 Feb 2022 rex. AAPA PEL-AIR AAPA AUSTRALIAN AIRLINE PILOT ACADEMY VICTORIA#2Agenda ✈ Group Operational Review ✈ Financial Highlights ✈ Outlook & Profit Forecast ✈ Dividend rex. AAPA PEL-AIR AAPA AUSTRALIAN AIRLINE PILOT ACADENY VICTORIA#31 HFY22 Financial Results ✈ Group Operational Review ✈ Financial Highlights ✈ Outlook & Profit Forecast ✈ Dividend rex. AAPA PEL-AIR AAPA AUSTRALIAN AIRLINE PILOT ACADENY VICTORIA#4Group Operational Review ✈ July 2021: Contracted by NSW Ambulance to replace 2 King Air B350 with 2 Pilatus PC-24 jets in FY24 ✈ July - Mid Oct 2021: Temporary suspension of domestic services, schedule reduction or suspension of regional services and staff stand downs due to the resurgence of infections + Mid Oct 2021: Progressively reinstated domestic and regional services Nov 2021: Won 6 of 7 Queensland Regulated Air Services routes in competitive tender Re-awarded 5 regulated routes (Gulf, Northern 1 & 2 and Western 1 & 2) Operated Northern 1 & 2 for over 10 years Awarded Central 1 route (connecting Roma and Charleville with Brisbane) previously serviced by QantasLink All 6 routes are for a period of 5 years from 1 January 2022 rex. AAPA PEL-AIR AAPA AUSTRALIAN AIRLINE PILOT ACADENY VICTORIA#5Group Operational Review ✈ Nov 2021: Resumed majority of the Domestic and Regional routes ✈ Nov 2021: Progressive roll out of WIFI on B737-800NG fleet ✈ Dec 2021: Completed Brisbane leg of "Golden Triangle" • • Launched Brisbane to Melbourne route on 17 December Launched Brisbane to Sydney route on 20 December rex. AAPA PEL-AIR AAPA AUSTRALIAN AIRLINE PILOT ACADENY VICTORIA#6Group Operational Review Subsequent Events: + Jan 2022: Pel-Air commenced operations of the NSW Fixed-wing Air Ambulance Services. Pel-Air is now one of Australia's biggest operators of fixed-wing air ambulance services ✈ Jan 2022: Started new operations Brisbane - Roma/Charleville under the new Queensland Government Regulated Air Services contract ✈ Jan & Feb 2022: AAPA welcomed international cadets after a hiatus of about 2 years. A total of 44 Vietnamese / Singapore cadets arrived. At the same time, the 26th cohort of Rex Cadet Pilot Programme started training ✈ Feb 2022: Completed acquisition of Propeller and Propulsion Services from Airbus New Zealand. Changed entity's name to Australian Aero Propeller Maintenance Pty Ltd (AAPM) + rex. AAPA PEL-AIR AAPA AUSTRALIAN AIRLINE PILOT ACADENY VICTORIA#7Group Operational Review Subsequent Events: ✈ Feb 2022: Rex Airlines secured multimillion dollar grant under the $250m NSW Jobs Plus program: The grant will create jobs and help fund: • A Boeing Flight Simulator Centre at Rex's Sydney headquarters . New code C size hangar at Sydney Airport • New Rex lounge at Sydney Airport • Larger capacity of Rex's call centre in Orange • Staff Training + Feb 2022: Re-awarded a 12-year Ambulance Victoria Fixed-wing Air Ambulance Contract worth more than $300m to commence operations on 1 Jan 2024 rex. t AAPA PEL-AIR AAPA AUSTRALIAN AIRLINE PILOT ACADENY VICTORIA#8Group Operational Review Airline Reliability Index Airline On Time Departure Cancellation Rate (%) FY22 YTD FY21 F FY20 FY19 FY18 FY22 YTD FY21 FY20 FY19 FY18 rex. 1st 1st Regional Express (89.4%) 1st 2nd 2nd 4.15% 2.6% 2.9% 1.0% 1.3% Virgin Australia 3rd 3rd 3rd 3rd 3rd 3.41% Regional (81.8%) 3.2% 2.1% 2.1% 2.6% 2nd QantasLink 2nd 2nd 1st 1st 11.37% (88.4%) 4.5% 2.9% 1.6% 2.3% rex. + AAPA PEL-AIR AAPA AUSTRALIAN AIRLINE PILOT ACADEMY VICTORIA#91 HFY22 Financial Results ✈ Group Operational Review ✈ Financial Highlights ✈ Outlook & Profit Forecast ✈ Dividend rex. AAPA PEL-AIR AAPA AUSTRALIAN AIRLINE PILOT ACADENY VICTORIA#10Financial Highlights Group Income Statement Review 1HFY22 1HFY21 Change ($M) ($M) Passenger Revenue 68.7 42.8 60.5% Group Total Revenue 116.5 125.1 (6.9%) Fuel Cost (15.9) (7.0) 125.2% Other Costs & Expenses Exclude Fuel* (146.5) (104.6) 35.9% Finance & Other Income** (7.1) 0.7 (1014.3%) Statutory Profit/(Loss) Before Tax (53.0) 14.2 (373.2%) Statutory Profit/(Loss) After Tax *1HFY22 includes a reverse impairment of $3.4m **1HY22 includes a Facility fee amortisation of $4m (36.7) 9.9 (370.7%) t rex. AAPA PEL-AIR AAPA AUSTRALIAN AIRLINE PILOT ACADEMY VICTORIA#111 HFY22 Financial Results ✈ Group Operational Review ✈ Financial Highlights ✈ Outlook & Profit Forecast ✈ Dividend rex. AAPA PEL-AIR AAPA AUSTRALIAN AIRLINE PILOT ACADENY VICTORIA#12Outlook Outlook The first half of the FY was dominated by "stay-at-home" public health orders, travel restrictions and border closures. The Omicron strain of COVID emerged in December and completely decimated air travel. The second half will continue to be affected by COVID and prospect will be subdued in this period. However, there are signs that indicate an uptake of bookings in recent weeks that suggest we may have reached the bottom, barring another variant. rex. AAPA PEL-AIR AAPA AUSTRALIAN AIRLINE PILOT ACADENY VICTORIA#13Profit Forecast Profit Forecast Given the uncertainties, no profit guidance can be given at this time rex. AAPA PEL-AIR AAPA AUSTRALIAN AIRLINE PILOT ACADENY VICTORIA#141 HFY22 Financial Results ✈ Group Operational Review ✈ Financial Highlights ✈ Outlook & Profit Forecast ✈ Dividend rex. AAPA PEL-AIR AAPA AUSTRALIAN AIRLINE PILOT ACADENY VICTORIA#15Dividend No Interim Dividend will be paid for FY22 rex. AAPA PEL-AIR AAPA AUSTRALIAN AIRLINE PILOT ACADENY VICTORIA#16Q&A End of Presentation Thank you rex. AAPA PEL-AIR AAPA AUSTRALIAN AIRLINE PILOT ACADENY VICTORIA#17737-800 RQC Our heart is in the country D PRX Regional Express VH-PRX