#1H1 Results, Nov 2015 30 YEARS OF LOW 1985-2015 FARES RYANAIR#2Europe's Favourite Airline ✈ Europe's Lowest Fares/Lowest Cost Carrier ✈ No 1, Traffic ✈ No 1, Coverage - 105m - 76 Bases ✈ No 1, C'mer Service - Low Fares/On-time/Fewest/Canx "Always Getting Better" Program ✈ Fwd Bookings, Ld Factors & Traffic Rising ✈ 380 new a/c order = growth to 180m by FY24 ✈ 30th birthday of RYR low fares in Europe CALLING ALL SWINGERS & CLUBBERS LISBON €29.99 €34.99 MALAGA €34.99 ALICANTE €46.99 DAILY FARO DAILY RYANAIR.COM DAILY EX WEEK BRING YOUR OWN CLUBS & BALLS FOR JUST €80 €30 RYANAIR LOW FARES. MADE SIMPLE. Prices one way from. T&C apply, see Ryanair.com. Flights from Dublin. 30 RYANAIR YEARS OF LOW FARES 1985 2015 2#3Europe's Lowest Fares Ryanair* Wizz* Norwegian easyJet Air Berlin Lufthansa IAG Air France / KLM Avg Competitor Fare Avg. Fare €47 €60 €81 €84 €120 €230 €231 €253 €151 Source: Latest Annual Reports, *RYR & WIZ ave fare includes 1st checked bag % > Ryanair +28% +72% +79% +155% +389% +391% +438% +221% 5 30 RYANAIR YEARS OF LOW FARES 1985 2015 3#4Europe's Lowest Costs (Ex Fuel) Staff Airport & hand Route charges Own'ship & maint. S & M other Total % > Ryanair Bond rates Source: Latest Annual Reports RYA €6 €6 WIZ EZY NOR €5 €8 €12 €21 €2 €6 €7 €10 €9 €6 €6 €8 €7 €29 €39 €51 €15 €14 €8 €21 €4 €62 AB1 1.1% n/a n/a 7.0% €17 €27 €8 €29 €26 €107 +34% +76% +114% +269% 6.9% LUV €35 €8 €0 €16 €15 €74 +155% AF 6.3% LUFT 5.1% 30 RYANAIR YEARS OF LOW FARES 1985 2015 4#5Europe's No 1 Coverage → 76 bases ✈ 197 airports ✈ 31 countries ✈ 1,600+ routes ✈ 105m c'mers p.a. ✈ 316 x B737-800's ✈ 380 x B737s on order KNOCK SHANNON KERRY CORK PONTA DELGADA CLANZAROTE TENERIFE (S) TENERIFE (N) DERRY OGRAN CANARIA FUERTEVENTURA DUBLIN NEWQUAY GLASGOW (1) O LISBON FARO PORTO LIVERPOOL MANCHESTER O SANTIAGO O VIGO CARDIFF AGADIR BIRMINGHAM O GLASGOW (P) BRISTOLO BOURNEMOUTH ESSAOUIRA VALLADOLIDO OSEVILLE JEREZ MALAGA EDINBURGH SANTANDER RABAT FEZ MARRAKESH NEWCASTLE LEEDS EAST MIDLANDS OLONDON (L) OLONDON (S) LONDON (G) LORIENT BREST DEAUVILLE BIARRITZ LOURDES MONTPELLIER CUNEO CARCASSONNE O PERPIGNAN MADRID O OZARAGOZA TANGIER NANTES LA ROCHELLE O LIMOGES BERGERAC BORDEAUX CASTELLON REUS VALENCIA 00 ALICANTE MURCIA ALMERIA HAUGESUND ONADOR OUJDA HAMBURG BREMENO DUSSELDORFO ODORTMUND BERLIN POZNAN MAASTRICHT LODZ O LILLE OBRUSSELS (Z) LEIPZIG WROCLAW BRUSSELS (C) COLOGNE PRAGUE DINARD PARIS VATRY FRANKFURT KRAKOW OSTRAVA TOURS O STRASBOURG STUTTGART NUREMBERG ODOLE BADEN OPOITIERS CLERMONT MEMMINGEN O BRIVE BASELO MILAN (B) ST. ETIENNE MILAN (M) OVERONA RODEZ GRENOBLE TURIN VENICE NIMESO PARMA AMSTERDAM EINDHOVEN OMARSEILLE BEZIERS BARCELONA (G) OBARCELONA (E) IBIZA PALMA MENORCA FIGARI TORP OSLO BILLUND GOTHENBURG AARHUS GENOA NICE STOCKHOLM OCAGLIARI MUNSTER OPISA PERUGIA O ROME (F) ALGHERO PALERMO TRAPANI O BOLOGNA OTRIESTE PULA LINZ OSALZBURG COMISO SKELLEFTEÅ LAMEZIA VÄXJÖ ANCONA OPESCARA ROME (C) OMALTA VÄSTERÅS LAPPEENRANTA SZCZECIN RIJEKA ZADAR CATANIA GDANSK BRNO OBYDGOSZCZ BARI BRATISLAVA TAMPERE O OOSIJEK WARSAW LUBLIN OKATOWICE BUDAPEST OBRINDISI CORFU O CROTONE KEFALONIA ZAKYNTHOS KALAMATA TALLINN RIGA ORZESZOW KAUNAS VILNIUS PODGORICA SOFIA BUCHAREST CHANIA OPLOVDIV THESSALONIKI PATRAS ARAXOS ATHENS KOS RHODES SANTORINI LARNACA PAPHOS O EILAT OVDA 30 RYANAIR YEARS OF LOW FARES 1985 2015 5#6Europe's No 1 Market Share Country (Cap m)* UK (117) Germany (112) Spain (105) Italy (85) France (72) Portugal (19) Belgium (15) Ireland (15) Poland (15) Morocco (12) Source: Cap Stats Departing Seats 2015 No. 1 easyjet Luft RYANAIR LOW FARES. MADE SIMPLE. RYANAIR LOW FARES. MADE SIMPLE. AF-KLM TAP RYANAIR LOW FARES. MADE SIMPLE. RYANAIR LOW FARES. MADE SIMPLE. RYANAIR LOW FARES. MADE SIMPLE. RAM No. 2 RYANAIR LOW FARES. MADE SIMPLE. Air Berlin Vueling Alitalia easyJet RYANAIR LOW FARES. MADE SIMPLE. SN Brussels Aer Lingus LOT RYANAIR LOW FARES. MADE SIMPLE. No. 3 BA RYANAIR LOW FARES. MADE SIMPLE. Iberia easyJet RYANAIR LOW FARES. MADE SIMPLE. easyJet Jetairfly BA Wizz easyJet Share 17% 5% 18% 26% 7% 21% 26% 48% 29% 12% 30 RYANAIR YEARS OF LOW FARES 1985 2015 6#7180 160 140 120 100 80 60 40 20 Europe's No 1 For Traffic Growth C'mers (m's) 57 2014/15 62 IAG AIRFRANCE KLM 63 ufthansa 65 easyJet 90.6 1 RYANAIR LOW ARES MADE SIMPLE Source: Latest traffic stats to Dec-14, company forecasts 105 113 FY16 FY17 FY15-FY24: +100% 125 FY18 135 FY19 140 FY20 150 FY21 160 FY22 170 FY23 180 FY24 30 RYANAIR YEARS OF LOW FARES 1985 2015 7#8H1 2016 Traffic (m) Load Factor - Profits up 37% Avg. fare (incl. bag) Revenue (€m) Net Profit (€m) (₁) Net Margin (₁) EPS (€) (₁) (i) Excludes Aer Lingus accounting gain of €317.5m Sep-14 51.3 89% €54 3,537 795 23% 0.57 Sep-15 58.1 +13% 93% +4% €56 +2% 4,040 +14% 1,088 +37% 27% +4% 0.80 +39% 30 RYANAIR YEARS OF LOW FARES 1985 2015 8#9H1 2016 Balance Sheet Assets (incl. a/c) Cash Total Liabilities N Cash €364m Debt S/H funds Total (i) Includes Aer Lingus proceeds of €398m Mar-15 Sep-15 €m €m 7,389 4,796 12,185 3,718 ↳4,432 4,035 12,185 6,661 5,197 11,858 (i) 3,107 4,221 4,530 11,858 N Cash €976m 30 RYANAIR YEARS OF LOW FARES 1985 2015 9#10Current Developments ✈ AGB Year 2: Fwd bookings & LF rising ✈ FY16 traffic raised 104m to 105m - H2 yields to fall ✈ W16 new bases, routes & capacity = lower fares ✈ Competitors cut capacity on RYR routes ✈ FY17 oil hedge save €430m - pass on in lower fares ✈ €400m buyback finalised in Aug ✈ €400m A Lingus proceeds ret. to s'holders in Nov 30 RYANAIR YEARS OF LOW FARES 1985 - 2015 10#11LF & Fwd Bookings Rising FY14 FY15 Apr 81% 84% +3% May 82% 85% +3% Jun 84% 88% +4% Jul 88% 91% +3% Aug 89% 93% +4% Sep 85% 90% +5% Oct 83% 89% +6% Nov 81% 88% +7% Dec 81% 88% +7% Fwd Dec Jan 71% 83% +12% bks(i) Jan Feb 78% 89% +11% Feb Mar 80% 90% +10% Mar FY 83% 88% +5% (i) Fwd bks (as % of traffic target) on 19 Oct 2015 v 19 Oct 2014 Apr May Jun July Aug Sept Oct Nov FY15 FY16 84% 91% +7% 85% 92% +7% 88% 93% +5% 91% 95% +4% 93% 95% +2% 90% 94% +4% 89% 93% +4% +3% +3% +2% +2% +2% 30 RYANAIR YEARS OF LOW FARES 1985 - 2015 11#12W16 New Bases, Routes & Capacity ✈ 4 New Bases ✈119 New Routes Denmark Romania Israel Germany Greece Czech Rep Portugal Berlin, Corfu, Milan (MXP), Gothenburg Strong winter'16 capacity growth +250% +130% +100% +50% +31% +31% +26% CGN-SXF(6), DUB-AMS(4), SXF-BRU(3), STN-MXP(2) Hungary Spain Poland Ireland UK Belgium Italy +21% +17% +17% +13% +12% +11% +11% 30 RYANAIR YEARS OF LOW FARES 1985 - 2015 12#13Competitors Cut Capacity on RYR routes Close: FCO base, CGN-LGW, MAD-SXF, RAK-STN Cut freq: DTM-LTN, MXP-RAK, LGW-SCQ, LGW-TLL ✈ easyJet ✈ Alitalia ✈ Aer Lingus ✈ Norwegian ✈ Vueling Brussels A ✈ Iberia ✈ SAS Close: FCO-KRK, LIN-WAW Cut freq: FCO-OTP, FCO-BUD, LIN-CAG, LIN-AHO Close: DUB-CPH Cut freq: DUB-AMS, DUB-BLQ, DUB-MXP Close: LGW-WAW, LGW-TRF, CGN-ALC, CGN-LPA, HAM-MAD Close: FCO-RAK, FCO-BRI, FCO-BDS, BRU-VCE Cut freq: BRU-BLQ, BRU-FCO, BRU-RIX, BRU-WAW Cut freq: MAD-BRU, MAD-DUB Cut freq: GOT-STN 30 RYANAIR YEARS OF LOW FARES 1985 - 2015 13#14FY17 Oil Hedge save €430m $pmt Q1 Q2 Q3 Q4 FY FY15 $945 $942 $960 $959 $950 FY16 $934 $935 $876 (95%) $828 (95%) $898 (95%) lower fares ✈ FY16 fuel 95% hedged @saving of €100m over p/y ✈ FY17 fuel 95% hedged @ saving of €430m over p/y FY17 $659 (95%) $652 (95%) $590 (95%) $567 (95%) $622 (95%) ✈ Lower fuel funds up to 10% lower fares - sustains strong growth 30 RYANAIR YEARS OF LOW FARES 1985 - 2015 14#15FY16 Outlook ✈ Load Factor up 4% to 92% ✈ Traffic up 16% to 105m (H2 +19%) ✈ Unit cost down 5% (ex fuel -1%) ✈ Ave. fare: Q3 flat, Q4 down 4% Lower oil will fund lower fares in H2 & FY17 ✈ Guidance raised to upper end of €1,225m range ✈ Final PAT subject to Q4 "LF active / price pass" policy LOW FARES MADE SIMPLE 2ND CABIN BAG FREE 190 DESTINATIONS MOBILE BOARDING PASSES FLY FROM $19.99 IN ORANG KARAOK RYANAIR LOW FARES MADE SIMPLE 30 RYANAIR YEARS OF LOW FARES 1985 - 2015 15#16Appendices 30 YEARS OF LOW 1985-2015 FARES RYANAIR#17Google & e-Nightmares Google allows e-dreams missell ✈ eDreams misquoting - fake fares ✈ Over-charging - hidden fees ✈ Consumers misled ✈ No info or contact details Google misleading consumers Google ryanair Web News Images Maps About 25,800,000 results (0.45 seconds) Ryanair: Low Cost Flights - edreams.com www.ryanair.edreams.com/ RYANAIR Fly Ryanair and book cheap flights from €8 Docover great deals with eDreams Videos Book Now Cheap Ryanair Flights. Fly with Ryanair & Save Money! Cheap Flights from €19 - More than 750 Airlines Flight + Hotel Offers Flights from Ireland Cheap Flights Offers All the Destinations Flights Dublin London Return One Way Free carry-on (55x40x20cm) and small bag (35x20x20cm) on your flight. Airline Rating RYANAIR Why book Ryanair flights with eDreams? More T Choose from 1600 Ryanair daily flights with eDreams! Search 3.6/5 Reviews: 783 Online check-in from 30 days to 2 hours before departure. 30 RYANAIR YEARS OF LOW FARES 1985-2015 17#18Traffic Raised from 160m to 180m in FY24 737-800 Order MAX Order FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 C'mers Fleet (at YE) P.A. 308 91m 340 105m 380 113m 401 125m 419 135m 450 140m 472 150m 507 160m 535 170m 546 180m Growth Ann + 11% + 16% + 8% + 11% + 8% + 4% + 7% + 7% + 6% + 6% Cum + 11% + 29% + 38% + 53% + 65% + 71% + 84% + 96% + 108% + 120% 30 RYANAIR YEARS OF LOW FARES 1985 - 2015 18#19Disclaimer Certain of the information included in this presentation is forward looking and is subject to important risks and uncertainties that could cause actual results and developments to differ materially from those expressed in or implied by such forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend upon future circumstances that may or may not occur. A number of factors could cause actual results and developments to differ materially from those express or implied by the forward-looking statements including those identified in this presentation and other factors discussed in our Annual Report on Form 20-F filed with the SEC. It is not reasonably possible to itemise all of the many factors and specific events that could affect the outlook and results of an airline operating in the European economy. Among the factors that are subject to change and could significantly impact Ryanair's expected results are the airline pricing environment, fuel costs, competition from new and existing carriers, market prices for the replacement aircraft, costs associated with environmental, safety and security measures, actions of the Irish, U.K., European Union ("EU") and other governments and their respective regulatory agencies, fluctuations in currency exchange rates and interest rates, airport access and charges, labour relations, the economic environment of the airline industry, the general economic environment in Ireland, the UK and Continental Europe, the general willingness of passengers to travel and other economics, social and political factors and flight interruptions caused by volcanic ash emissions or other atmospheric disruptions. These and other factors could adversely affect the outcome and financial effects of events or developments referred to in this presentation on the Ryanair Group. Forward looking statements contained in this presentation based on trends or activities should not be taken as a representation that such trends or activities will continue in the future. Except as may be required by the Market Abuse Rules of the Central Bank of Ireland, Listing Rules of the Irish Stock Exchange or by any other rules of any applicable regulatory body or by law, the Company disclaims any obligation or undertaking to release publicly any updates or revisions to any forward statements contained herein to reflect any changes in the Company's expectations with regard to any change in events, conditions or circumstances on which any such statement is based. This presentation contains certain forward-looking statements as defined under US legislation. By their nature, such statements involve uncertainty; as a consequence, actual results and developments may differ from those expressed in or implied by such statements depending on a variety of factors including the specific factors identified in this presentation and other factors discussed in our Annual Report on Form 20-F filed with the SEC 30 RYANAIR YEARS OF LOW FARES 1985 - 2015 19