#1RYANAIR MORE CHOICE. LOWER FARES. GREAT CARE. FY21: Q1 Results Descubr#2Europe's Lowest Cost Airline Group ✈ Lowest fare/lowest cost airline group ✈ No. 1, Traffic - 149m guests (FY20) ✈ No. 1, Cover - 242 apts/2,100 routes ✈ Successful return to service 1 Jul ✈ Strong (BBB) balance sheet ✈ Financial strength + Lowest cost = Long term winner RYANAIR MORE CHOICE. LOW FARES. GREAT CARE. 4 2#3Europe's No. 1 Coverage ✈ 79 bases ✈ 242 airports (60% prim) ✈ Over 2,100 routes ✈ RTS 90% network only ✈ 60m guests (FY21) KNOCK SHANNON KERRY CORK TERCEIRA PONTA DELGADA DERRY BELFAST DUBLIN NEWQUAY LANZAROTE TENERIFE (S) TENERIFE (N) GRAN CANARIA FUERTEVENTURA GLASGOW (1) LISBON 0 LIVERPOOL MANCHESTER PORTO FARO 0 CARDIFF SANTIAGO VIGO AGADIR BIRMINGHAM O BRISTOLO EXETER BOURNEMOUTH EDINBURGH GLASGOW (P) ESSAOUIRA OSEVILLE JEREZ MALAGAO MARRAKESH ABERDEEN NEWCASTLE LEEDS EAST MIDLANDS BREST TANGIER RABAT FEZ LIMOGES BERGERAC OBORDEAUX O RODEZ GRENOBLE SANTANDER BIARRITZ TOULOUSE NIMES TURIN BILBAO VITORIA LOURDES CARCASSONNE VALLADOLID PERPIGNAN MADRID O ZARAGOZA NANTES LA ROCHELLE CASTELLON DINARD TOURS OUARZAZATE ALMERIA REUS VALENCIA OALICANTE MURCIA NADOR OUJDA HAUGESUND LONDON (L) HAMBURG LONDON (ST) SZCZECIN BYDGOSZCZ OLONDON (SO) BERLIN (T) O LONDON (G) AMSTERDAM DORTMUND BERLIN (S) POZNAN 9 EINDHOVEN MAASTRICHT LODZO LILLE DRESDEN BRUSSELS (ZO WROCLAW BRUSSELS (CO PARIS COLOGNE PRAGUE O LUXEMBOURC VATRY FRANKFURT (M) FRANKFURT (H) PARDUBICE STRASBOURG OSTUTTGARTONUREMBERG POITIERS DOLE BADEN MUNICH CLERMONT MEMMINGENO BRIVE BASELC MILAN (B) MILAN (M) VERONA VENICE (T) VENICE (M) CUNEO PARMA GENOA BOLOGNA NICE PISA PERUGIAO ROME (F) ALGHERO RIMINI OMARSEILLE BEZIERS BARCELONA (G) BARCELONA (E) IBIZA RYANAIR MORE CHOICE. LOW FARES. GREAT CARE. PALMA OSLO (G) BREMEN DUSSELDORF (W) DUSSELDORF FIGARI MENORCA TORP AALBORG AARHUS BILLUND CAGLIARI PALERMO TRAPANI O STOCKHOLM O GOTHENBURG COPENHAGEN COMISO VÄXJÖ VÄSTERÅS MALMO LAMEZIA ANCONA PESCARA ROME (C) MALTA KRAKOW OSTRAVA BRNO TIMISOARA TRIESTE PULA BANJA LUKA RIJEKA ZADAR SPLIT DUBROVNIK PODGORICA GDANSK BARI CATANIA NAPLES BRINDISI CORFU CROTONE KEFALONIA BRATISLAVA KOSICE SALZBURG VIENNA OBUDAPEST 4 TAMPERE PALANGA OLSZTYN-MAZURY WARSAW (M) WARSAW (C) LUBLIN KATOWICE LAPPEENRANTA ATHENS TALLINN RIGA * KAUNAS VILNIUS RZESZOW LVIV CHANIA CLUJ BUCHAREST O NIŠ OSOFIA KAVALA THESSALONIKI AKTION PREVEZA PLOVDIV KYIV ODESA EILAT OVDA KHARKIV KHERSON KUTAISI TBILISI BURGAS MYKONOS RHODES SANTORINI HERAKLION PAPHOS TEL AVIV AMMAN BODRUM DALAMAN YEREVAN GYUMRI LARNACA BEIRUT AQABA 3#4Ryanair Wizz Europe's Lowest Fares Avg. Fare easyJet Norwegian Lufthansa IAG AF/KLM Avg Competitor Fare €37 €43 €59 €99 €178 €190 €213 €131 Change +2% -3% -3% +9% +1% +1% % > Ryanair +16% +59% +168% +381% +414% +476% +254% BACK FLYING 1,000 FLIGHTS PER DAY READY, SET, GO SUMMER FLY FROM €24.99 Book your beach break today. (Source: FY results/Annual Reports) RYANAIR MORE CHOICE. LOW FARES. GREAT CARE. Book now 4 4#5Europe's Lowest Costs Wins! € per pax Staff/efficiency Airport & Hand. Route Charges Own'ship & maint. S & M other Total %> Ryanair RYANAIR RYA 7 8 LO 5 7 4 31 WIZ 6 11 5 14 3 39 +26% EZJ 10 22 5 9 7 53 +71% NOR 19 19 7 28 14 87 +181% MORE CHOICE. LOW FARES. GREAT CARE. E'Wings 20 18 7 21 28 94 +203% LUV 55 9 0 17 20 101 +226% 249 5#6Q1 FY21 Highlights Guests (m) Load Factor Revenue (m) Costs (m) PAT/ (Net Loss) (m) ОТР Jun 19 41.9 96% €2,312 €2,037 €243 91% Jun 20 0.5 -99% 61% -35pts €125 -95% €313 -85% € (185) N/A 98% +7pts RYANAIR MORE CHOICE. LOW FARES. GREAT CARE. 1 6#7Strong Balance Sheet (BBB) €'bn Assets Cash Total Accruals Debt S/H Funds Total 31 Mar 20 10.94 3.81 14.75 5.62 4.21 4.92 14.75 30 Jun 20 10.65 3.94 14.59 5.12 4.81 4.66 14.59 Incl. 333 unencumb. B737s (€7bn book val) Breakeven cashflow post RTS RYANAIR MORE CHOICE. LOW FARES. GREAT CARE. $1 7#8Current Developments ✈ RTS July - 40% cap. (90% network); Aug c. 60%; Sept c. 70% ✈ Illegal State Aid = below-cost selling ✈ Europe's cost leader - Right-sizing the cost base ✈ MAX deliveries W. 20 (subject to Q3 RTS in USA) ✈ Post Covid-19 growth opportunities ✈ Brexit risk intensifies ✈ Outlook - FY21 traffic 60m (subject to no 2nd wave Covid-19) RYANAIR MORE CHOICE. LOW FARES. GREAT CARE. 2. 8#9Return to Service - July ✈ Successful RTS on 1 Jul: 40% schedule, 90% routes, 70%+ LF ✈ Comprehensive health measures ✈ EU Govts ease lockdowns ✈ OTP excellent: 95%+ 6 FRYANAIR ✈ Controlled capacity & LF incr. into H2 → Traffic heavily dep. on no material 2nd wave of Covid-19 ✈ Seat sales to stimulate demand = weaker yields for FY21 4 RYANAIR MORE CHOICE. LOW FARES. GREAT CARE. 9#10● ● Illegal State aid to legacy carriers Flood of illegal state aid to flag carriers AFKLM/Alitalia/Luft/SAS/TAP Illegal State Aid will lead to below-cost selling by flags State Aid (€bn) Lufthansa Group Air France-KLM Alitalia TUI Group TAP Finnair Condor SAS Norweigan Appealing to EU Courts 11.0 10.6 3.5 1.8 1.2 0.9 0.6 0.4 0.3 > €30bn RYANAIR MORE CHOICE. LOW FARES. GREAT CARE. 4 10#11✈ UK & Ire pay deals - pay cuts to avoid job losses ✈ Headcount reductions where nesc. - Germany EU's Cost Leader - Right size the cost base ✈ New airport growth deals ✈ Improved supplier terms - maint, mkting ➜ Lauda rescue plan: - - - Cut fleet to 30 A320s (was 38), closed STR base Negotiated lower acft lease rates New pay deal - lower costs and new CLA productivity → Lower cost MAX acft (Boeing talks ongoing) RYANAIR MORE CHOICE. LOW FARES. GREAT CARE. 24 11#12Boeing 737MAX update ✈210 orders (135 firm, 75 options) ✈ MAX-8 RTS in Q3 in USA ✈ 1ST MAX-200 deliv. before end 2020 11 RYANAIR MORE CHOICE. LOW FARES. GREAT CARE. 1 RYANAIR ✈ Target 40 MAX-200s delivs. for S.21 - Subj to Q3 RTS ✈ "Gamechanger": 4% more seats, 16% less fuel ✈ Envir. savings: -16% emissions, -40% noise ✈ Lower cost MAX drives EU mkt share gains post Covid-19 Boeing comp. talks can't conclude until RTS successful $1 12