#1NAIR Natalya RYANAIR RYANAR RYANAIR MORE CHOICE. LOWER FARES. GREAT CARE. FY Mar 2019 Results RYNAIR#2Europe's Favourite Airline ✈ Lowest fare/lowest cost carrier ✈ No 1, Traffic - 153m guests (+8%) ✈ No 1, Cover – 234 airports & 2,100 routes ✈ EU airline failures/sales accelerate ✈ Avg fares fall 6% to €37 ✈ Strong ancillaries offset by higher fuel ✈ Lowest cost wins RYANAIR C 2#3Ryanair Wizz Europe's Lowest Fares easyJet Norwegian Lufthansa IAG AF/KLM Avg Competitor Fare (Source: FY results/Annual Reports) RYANAIR Avg. Fare €37 €46 €61 €91 €176 €191 €210 €129 Change -6% -5% +2% +14% -10% -1% -1% % > Ryanair +24% +65% +146% +376% +416% +468% +249% W TAXA FARES AIRI 3#4Europe's Lowest Costs Wins! € per pax Staff/efficiency (py) Airport & Hand. Route Charges Own'ship & maint. S & M other Total %> Ryanair RYA 7 (6) 7 LO 5 6 4 (2 29 (Source: FY results/Annual Reports/Company guidance) RYANAIR WIZ 6 (5) 11 5 15 3 40 +38% EZJ 10 (9) 21 5 9 8 53 +83% NOR 19 (17) 19 7 32 8 85 +193% E'Wings 19 (18) 33 7 21 34 114 +293% LUV 48 8 0 15 18 89 +207% 4#5Europe's No. 1 Coverage ✈ 87 bases ➜ 234 airports (60% prim) ✈ Over 2,100 routes ✈ S.19 -Mrs/Bod/Tls (Fr) -Sen (UK)/Txl (Ger) -Ukraine/Turkey ✈ 153m guests (+8%) ✈ On track to 200m by FY24 RYANAIR KNOCK SHANNON KERRY CORK TERCEIRA PONTA DELGADA LANZAROTE TENERIFE (S) TENERIFE (N) DERRY BELFAST DUBLIN NEWQUAY GRAN CANARIA FUERTEVENTURA GLASGOW (1) LIVERPOOL MANCHESTER LISBON O FARO CARDIFF BRISTOLO O EXETER BOURNEMOUTH PORTO BIRMINGHAMO AGADIR EDINBURGH GLASGOW (P) ESSAOUIRA JEREZ MALAGA SEVILLE RABAT FEZ MARRAKESH ABERDEEN NEWCASTLE TANGIER LEEDS EAST MIDLANDS BREST LONDON (L) LONDON (ST) OLONDON (SO) LONDON (G) GRENOBLE LIMOGES BERGERAC SANTIAGO O OBORDEAUX O RODEZ VIGO SANTANDER BIARRITZ TOULOUSE NIMES TURIN BILBAO VITORIA LOURDES CARCASSONNE OMARSEILLE VALLADOLIDO PERPIGNAN BEZIERS MADRIDO ZARAGOZA O BARCELONA (G) BARCELONA (E) FIGARI NANTES LA ROCHELLE CASTELLON QOUARZAZATE DINARD TOURS REUS OVALENCIA OALICANTE MURCIA ALMERIA NADOR OUJDA HAUGESUND IBIZA OSLO (G) MENORCA PALMA TORP AALBORG AARHUS BILLUND DUSSELDORF (W) DUSSELDORF HAMBURG BREMENO SZCZECIN NICE PISA PERUGIA ROME (F) ALGHERO STOCKHOLM OCAGLIARI PALERMO TRAPANI GOTHENBURG COPENHAGEN BYDGOSZCZ BERLIN (T) O AMSTERDAM DORTMUND BERLIN (S) POZNAN EINDHOVEN MAASTRICHT LODZO LILLE DRESDEN BRUSSELS (2) WROCLAW BRUSSELS (CO PARIS COLOGNE PRAGUE O LUXEMBOURG VATRY FRANKFURT (M) FRANKFURT (H) PARDUBICE STRASBOURG STUTTGART ONUREMBERG POITIERS DOLE BADEN MUNICH CLERMONT MEMMINGEN O SALZBURG VIENNA BUDAPEST BRIVE MILAN (B) MILAN (M) VERONA VENICE (T) TRIESTE VENICE (M) PULA CUNEO PARMA BASEL GENOA BOLOGNA RIJEKA RIMINI ZADAR VÄXJÖ MALMO VÄSTERÅS COMISO MALTA OGDANSK CATANIA TIMISOARA NIS ANCONA PESCARA PODGORICA CROME (C) NAPLES BRINDISI CORFU LAMEZIA CROTONE KEFALONIA BARI TAMPERE PALANGA LAPPEENRANTA OLSZTYN-MAZURY WARSAW (M) WARSAW (C) LUBLIN KATOWICE KRAKOW RZESZOW OSTRAVA BRNO BRATISLAVA KOSICE LVIV TALLINN RIGA CLUJ BANJA LUKA BUCHAREST ATHENS KAUNAS VILNIUS CHANIA OSOFIA KAVALA THESSALONIKI AKTION PREVEZA PLOVDIV KYIV BURGAS MYKONOS RHODES SANTORINI ODESSA KHARKIV BODRUM DALAMAN HERAKLION PAPHOS TEL AVIV AMMAN LARNACA EILAT OVDA AQABA 5#6Europe's No. 1 Market Share Country (Cap m)* Spain (140) UK (140) Germany (135) CEE (126) Italy (104) France (83) Portugal (30) Poland (25) Ireland (20) No. 1 RYANAIR *(Source: CapStats intra EU depart capacity Oct 18 - Sep 19) RYANAIR EZJ Luft RYANAIR RYANAIR AF TAP RYANAIR RYANAIR No. 2 Vueling RYANAIR RYANAIR Wizz Alitalia EZJ RYANAIR LOT Aer Lingus No. 3 Iberia BA EZJ Aegean EZJ RYANAIR EZJ Wizz BA Share 20% 19% 9% 14% 27% 7% 20% 29% 49% 6#7FY Results (excl. Lauda) Guests* Avg. fare Ancills/guest Rev per guest Unit costs (ex fuel) Profit* Mar 18 130.3m €39 €15 €54 €27 €1.45bn *(Excl. except. €139.5m Lauda year 1 setup losses & 3m guests) RYANAIR Mar 19 139.1m +7% €37 €17 €54 €29 -6% +11% -1% +5% €1.02bn -29%#8Current Developments ✈ Lower fares & higher fuel drive airline failures/sales ✈ Good ancillary progress and Cust Care improvements ✈ Group structure develops - Lauda & Buzz grow strongly ✈ B737MAX 210 ordered - first delivs delayed to W.2019 → Europe's greenest, cleanest airline ✈ €700m buyback announced ✈ Weak S.2019 fare outlook & cautious FY guidance → Short term price weakness, structural winner! RYANAIR 8#9Lower fares & higher oil drive failures/sales - Flybmi, Primera (UK/Spain) ✈ Failures: ✈ For sale/sold: ✈ Closures/cuts: RYANAIR - Small Planet, Azur & Germania (Ger) - Sky Works (Switz), Vlm (Bel) - Cobalt (Cyprus), Cello (UK) & Wow (Iceland) -Alitalia (Italy), Thomas Cook (UK/Ger) & FlyBe (UK) - Norweg (Lgw, Dub, Fco, Lpa, Pmi, Tfs, Edi & Bfs) - RYR (Bre, Ein, Hhn & Nrn) - Wizz (Poz), Luft (Dus) & EZJ (Opo) 9#10Good Ancillaries & Cust Care Improvements ✈ Strong Priority Board & Assign Seat sales ✈ New bag policy improves OTP & revenue ✈ New handling Stn, Spa, Pol - better OTP ✈ No. 1 OTP - Over 90% March & April ✈ New C'mer Care Charter - 24/7 support ✈ Digital improves - mobile, help centre ✈ Ryanair Choice W.2019 RYANAIR U LIFE VEST IN PANEL WA 37 REA 103 WEW RETAIL PROCES EXIT YANAIR 10#11Strong Airline Group ✈ Ryanair - 430 B737 ✈ Buzz - 25 B737 → 48 in S.2020 ✈ Lauda - 23 A320 ➜ 35 in S.2020 ✈ Focus on efficient capital allocations ✈ Facil compet divestments (Boeing or Airbus) ✈ MOL - Group CEO for 5 years ✈ Stan McCarthy Dep Chair RYANAIR RYANAIR MORE CHOICE. LOWER FARES. GREAT CARE. Lauda BUZZ 11#12Boeing 737MAX update ✈ 210 orders (135 firm, 75 options) ✈ 5 due S.2019 - expect Nov 2019 ✈ 42 due W.2019 - expect S.2020 ✈ Ongoing talks with Boeing & EASA ✈ All PDPs frozen since grounding ✈ Expect Boeing to cover lost profits ✈ 4% more seats, 16% lower fuel Grow to 200m guests p.a. FY24 RYANAIR 7ST MA nutella GO! RANA POL 6. PARTE Trally must be shows and strengerand showed gather codents weight of them eineke the place when t RYANAIR LOW FARES MADE SIMPLE. LOW EA FASTEN SEAT BELT W 12#13EU's Cleanest, Greenest Airline ✈ Cut fuel consumption & noise emissions ✈ B737 MAX, 4% more seats 16% less fuel ✈ Voluntary customer carbon offsets ✈ Plastic free in 5 years ✈ Over €1m p.a. support to IWDG www.iwdg.ie Irish Whale and Dolphin Group RENATURE MONCHIQUE firstclimate (0) Green Energy, Climate Neutral, Water woodland ✈ Direct flights lower CO2 than hub flights RYANAIR trust AIRLINE EFFICIENCY RANKINGS Ryanair Cathay Pacific easy Jet United Airlines JetBlue Airways KLM Royal Dutch American Airlines Delta Air Lines Alaska Airlines British Airways Air France Lufthansa Lb CO e per passenger-mile Source: Brighter Planet Report efficient inefficient 13#14Weak S.2019 fares - cautious FY20 guidance ✈ 153m guests (+8%) Fares -2% to +1% ✈ Rev per pax +2% to +4% ✈ Fuel +€460m - 90% hedged Ex fuel unit costs +2% ✈ Flat PAT guidance (€750m to €950m) ✈ Subj to W.2019 fares, security & Brexit RYANAIR Framm 14#15LL Appendices 2 r A#16Fuel hedging FY20: 90% hedged at c.$71 bbl +€460m FY21: Q1 35% hedged at c.$65 bbl Jet (met. tonne) Q1 Q2 Q3 Q4 FY €/$ Opex hedge FY20 $717 (90%) $718 (90%) $723 (90%) $667 (90%) $709 (90%) RYANAIR FY20 $1.23 (90%) FY21 $654 (35%) $654 (9%) FY21 $1.19 (46%) Increased pressure on unhedged carriers - spot oil +33% ytd 16#17Shareholder Returns €6.9bn FY08 - 11 FY12 - 14 FY15 FY16 FY17 FY18 FY19 FY20 Total Buyback Spec Divs (€m) (€m) 346 674 112 1,104 1,018 829 560 700 5,343 RYANAIR 500 492 520 1,512 Total (€m) 846 1,166 632 1,104 1,018 829 560 700 6,855 - 17