#1RYANAIR MORE CHOICE. LOWER FARES. GREAT CARE. Q1 FY22 Results#2Europe's Lowest Cost Airline Group ✈ Lowest fare/lowest cost airlines ✈ No. 1, Traffic: 90m-100m (149m pre C-19) ✈ No. 1, Cust. service / OTP 95% ✈ Ind. leading "B-" CDP climate rating ✈ Strong (BBB) bal. sheet (S&P & Fitch) ✈ Fin. strength + lowest cost = L.T. winner RYANAIR MORE CHOICE. LOW FARES. GREAT CARE. 4 2#3Europe's No. 1 Coverage ✈ 86 bases / 225 airports ✈37 countries 10 new bases: - S.21: ZAG/ZAD/CFU/CHQ/RHO W.21: RIX/BLL/ARN/TRN/AGA - ✈ Over 2,100 routes ✈200m guests p.a. by FY26 KNOCK SHANNON KERRY CORKO TERCEIRA PONTA DELGADA DERRY LANZAROTE TENERIFE (S) TENERIFE (N) GRAN CANARIA FUERTEVENTURA BELFAST DUBLIN NEWQUAY GLASGOW (1) PORTO LISBON O FARO AGADIR BELFAST CITY SANTIAGO LIVERPOOL MANCHESTER BIRMINGHAM CARDIFF BRISTOL EXETER BOURNEMOUTH GLASGOW (P) SANTANDER VITORIA VALLADOLID MADRID SEVILLE JEREZ MALAGA TANGIER ESSAOUIRA RABAT FEZ EDINBURGH MARRAKESH ABERDEEN ONEWCASTLE OTEESSIDE LEEDS EAST MIDLANDS BREST NANTES LA ROCHELLE TETOUAN CASTELLON LIMOGES BERGERAC BRIVE BORDEAUX RODEZ BIARRITZ TOULOUSE LOURDES CARCASSONNE PERPIGNAN ZARAGOZA TOURS ALMERIA OUARZAZATE CLONDON (L) LONDON (ST) O BERLIN OPOZNAN LODZ LONDON (SO) LONDON (c) AMSTERDAM DÜSSELDORF (W) MAASTRICHT ERFURT BRUSSELS (Z) DRESDEN WROCLAW COLOGNE PRAGUE FRANKFURT (H). EINDHOVEN LILLE BRUSSELS (c) PARIS (B) VATRY LUXEMBOURG FRANKFURT (M) NUREMBERG PARDUBICE OSTRAVA POITIERS NADOR OUJDA REUS QVALENCIA ALICANTE MURCIA HAUGESUND NIMES IBIZA PALMA OBEZIERS BARCELONA (G) OBARCELONA BREMEN MÜNSTER (os) TURIN MARSEILLE MENORCA AALBORG AARHUS BILLUND FIGARI RYANAIR MORE CHOICE. LOW FARES. GREAT CARE. OSLO (G) TORP NICE DOLE BADEN FRIEDRICHSHAFEN MEMMINGEN OSALZBURG VIENNA BASELO MILAN (B) MILAN (M) VERONA VENICE (T) VENICE (M) RMA CUNEO GENOA BOLOGNA RIMINI ALGHERO VÄSTERÅS STOCKHOLM STOCKHOLM (s) GOTHENBURG COPENHAGEN HAMBURG SZCZECIN DORTMUND CAGLIARI PALERMO TRAPANI MALMO PISA PERUGIA ROME (F)CROME (C) VÄXJÖ COMISO NAPLES TAMPERE LAPPEENRANTA KRAKOW BRNOO MALTA GDANSK BYDGOSZCZ OLSZTYN-MAZURY WARSAW (M) WARSAW (c) LUBLIN KATOWICE BARI CATANIA ANCONA DUBROVNIK PESCARA PODGORICA BRINDISI CORFUC LAMEZIA CROTONE KEFALONIA ZAKYNTHOS BRATISLAVA PALANGA BUDAPEST TIMISOARA ORADEA TRIESTE ZAGREB SIBIU CLUJ PULA BANJA LUKA RIJEKA ZADAR SPLIT KOSICE HELSINKI TALLINN RIGA KAUNAS ATHENS KALAMATA 4 VILNIUS RZESZOW LVIV SUCEAVA * BUCHAREST VARNA NIS OSOFIA ODESA O KYIV PLOVDIV MYKONOS RHODES SANTORINI CHANIA CHERAKLION PAPHOS THESSALONIKI AKTION PREVEZA SKIATHOS BODRUM DALAMAN KOS BURGAS KHARKIV KHERSON TEL AVIVO AMMAN LARNACA EILAT AQABA 3#4Europe's Lowest Costs Wins! € per pax Staff/efficiency Airport & Hand. Route Charges Own'ship & maint. S & M other Total RYA %> Ryanair (Source: Pre Covid-19 FY Results/Annual reports) RYANAIR 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% 240 4#5Q1 FY22 Results Guests (m) Load Factor Revenue (m) Op. costs (m) Net Loss (m) RYANAIR Jun 20 0.5 61% €125 €313 € (185) Jun 21 8.1 73% +7.6m +12pts €371 +196% €675 +116% €(273) -47% MORE CHOICE. LOW FARES. GREAT CARE. $19 5#6Q1 FY22 Balance Sheet (BBB) €'bn Assets Cash Total Accruals Debt S/H Funds Total Mar 21 9.18 3.15 12.33 2.25 5.43 4.65 12.33 Jun 21 9.34 87% B737 fleet debt free (€7.4bn book val.) 4.06 Strong liquidity 13.40 3.21 Debt: 5.72 - New €1.2bn 5 yr bond @ low 0.875% coupon (May) - Repaid €850m (2014) bond @ 1.875% coupon (Jun.) 4.47 13.40 - - Net Debt €1.66bn (27% less than €2.28bn at 31 Mar.) RYANAIR MORE CHOICE. LOW FARES. GREAT CARE. 4 6#7Current Developments ✈ Bookings & traffic to recover strongly in Jul/Aug (still v. close-in) ✈ Robust recovery of US dom. traffic due to pent up demand ➜ EU cost leadership enhanced 3 B737-8200 "Gamechangers" delivered in Jun. ✈ Sig. growth ops: Clear path to 200m guests by FY26 ✈ ESG update (Cust. Advisory Panel meets in Sept.) ✈ FY22 outlook: traffic 90m - 100m range (was lower end of 80m - 120m) 201 RYANAIR MORE CHOICE. LOW FARES. GREAT CARE. 7#8Recovery building ✈ Strong booking recovery since April (close-in) > 2m+ bookings p/wk in Jun. (500k p/wk in Mar.) ✈ Travel restricts. easing EU Digital Covid Certificate (DCC) No quarantine for vac. UK arrivals (mid-July) Vac. rollout over 50% of EU citizens (c. 80% by Sept.) ✈ Surging traffic in US dom. market confirms pent-up demand ✈ FY22 traffic recovery prioritised - load active / yield passive ✈ Maj. of EU / UK adult pop. vaccinated by end of Sept. ✈ Comprehensive healthy flying measures remain - RYANAIR MORE CHOICE. LOW FARES. GREAT CARE. EATHERE 4 8#9Some LCCs recover faster than others Apr May RYR 1.8m June 5.3m 1.0m 0.5m 0.6m 8.1m EZJ PAX (Source: Company reports) 0.9m Wizz 1.6m 0.8m 1.6m 3.0m 3.0m RYR 67% 79% 72% 73% LF EZJ 52% 68% 72% 66% RYANAIR MORE CHOICE. LOW FARES. GREAT CARE. RYR a/c delivs. over next 4 years - 210 x B737s - Tot. Fleet 600 EZJ fleet "target cut" by 10% - Tot. Fleet from 342 to 307 in FY21 Wizz a/c delivs. over 4 years - 84 x A320s - Tot. Fleet 221 Wizz 59% 66% 64% 64% 4 9#10EU cost leadership FY20 per pax (ex fuel) Staff/efficiency Airport & Hand. Route Charges Own'ship & maint. S & M other Total Fuel saves FY22 RYANAIR €7 €8 €5 €7 €4 €31 ● enhanced Cost savings initiatives: Pay deals agreed Pay cuts of 5% to 20% (restored over 3/5 years) - built in flexibility Growth deals as B-8200s delivs. drive vol. discs. (WIP) STN, BGY, CRL low-cost growth deals extended to 2028-30 Airports offset compr. traffic cuts/closures - 10 new bases Based on ATC cost recovery - ANSPs will try to price gouge 210 x B-8200 "gamechanger" aircraft (+4% seats, -16% fuel, -40% noise) Sell older aircraft / return maturing leases Better lease & maint. terms (less outsourced maint.) BBB rating = cheaper finance (€1.2bn bond @ 0.875% record low coupon) Labs lowers marketing spend EU261 costs steeply down (OTP 95%) B-8200 16% lower fuel burn (early Gamechanger figures v. positive) 20 MORE CHOICE. LOW FARES. GREAT CARE. * 10#111st Gamechanger" delivers in Jun. 3 B-8200 delivered in Jun. 21 ➜ 60+ delivs. for peak S.22 ✈ Gamechangers +4% seats, -16% fuel ➜ Envir. savings: -16% fuel / CO₂, -40% noise Initial fuel burn & guest feedback is v. v. positive BUZZ RYANAIR MALTA AIR 8 RYANAIR MORE CHOICE. LOW FARES. GREAT CARE. MALTA AIR ✈ Fleet grows to c. 600 a/c, traffic growth to 200m p.a. by FY26 CH Lower cost B-8200 drives mkt share gains & cost adv. for next decade 21 Ber ******** ESH - VUA 11#12Path to 200m guests by FY26 ✈ Airline failures & retrench - signif. EU capacity cuts ✈ Airports seek to recover traffic - growth incentives ✈10 new base deals post Covid in 2021 Lower cost B737-8200 facilitates growth (c.600 fleet by FY26) ✈ Pent up demand + lower costs = Mkt share gains ✈ Strong BBB rated Bal. Sheet RYANAIR MORE CHOICE. LOW FARES. GREAT CARE. 21 12#13M 200 180 160 140 120 100 80 60 40 20 210 order allows growth to 200m guests p.a. 106 FY17 Subject to Covid restricts & vaccine rollouts Guests 130 FY18 139 FY19 149 FY20 27.5 FY21 90-100 FY22E 150 FY23E RYANAIR MORE CHOICE. LOW FARES. GREAT CARE. 175 FY24E 195 FY25E 20 200 + FY26E * 13#14Environment update ✈ Ambitious enviro. targets: - CO₂ per pax/km 10% by 2030 (to 60 g's) 2 - Goal of 12.5% flights on SAF by 2030 - Improve CDP score to "A" in 2 years - Net carbon neutral by 2050 Sustainable Aviation Research Centre launched with TCD ✈ 1st B737 "Gamechanger" (-16% CO₂, -40% noise) deliv. in Jun. Launched Vol. Carbon Offset Calculator in Jul. RYANAIR MORE CHOICE. LOW FARES. GREAT CARE. 4 14#15"Fit for 55" Proposals (Green Deal) RYR supports 2050 net carbon neutral ✈ Welcome SAF blend targets (5% by 2030) Badly designed tax proposals: - Double tax for CO₂ (ETS plus kero. tax) - Polluter does not pay - L/H excluded (c.55% of EU emissions) - No reinvestment of taxes in sustainable alternatives 1₂ ✈ Taxes damage EU connectivity ✈ Penalizes poor (S/H) to benefit rich (L/H) ✈ Benefits EU centre (Ger./Fr./Neths.) at exp. of regions (Gre./Ita./Por./Spa.) ✈ Damages EU states with no flight alterns. (Cyp./Gre./Ire./Mal./Spa./Por.) RYANAIR MORE CHOICE. LOW FARES. GREAT CARE. 1 15#16Social & Gov. Update → Enhanced engagement with people - Work with nat. unions to save jobs - 2,000 new Pilot jobs in next 5 years - NED for workforce engagement - Suite of comms tools - Fleet tweet, Fleet cast ✈ Continuous investment in Training & Development ✈ New Sim Training Centre opens in Dublin → More Diversity - Female NEDs & Mgt. leaders ✈ New Cust. Advisory Panel appointed (1st meeting in Sept.) RYANAIR MORE CHOICE. LOW FARES. GREAT CARE. % 20 Lata 16#17FY22 Outlook ✈ Sig. uncertainty but bookings recover strongly ✈ FY22 Traffic: 90m - 100m range (was lower end of 80m - 120m) ✈ Cautiously expect FY22: small loss / close to b-even ✈ Low fares to drive strong recovery (load active / yield passive) ✈ Strong BBB balance sheet = fleet & market gains ✈ Fin strength + lowest cost = L.T. winner (i) (i) Subject to: vaccine roll out, easing of EU travel restrictions & no vaccine resistant variants RYANAIR MORE CHOICE. LOW FARES. GREAT CARE. 4 17#18RYANAIR Appendices CP( RYANAIR MORE CHOICE. LOW FARES. GREAT CARE. HGO 4 RYANAIR 18#19App 1: Fuel hedging update Jet (met. tonne) H1 H2 FY - Hedged Carbon (EUA) FY22 $546 (70%) $580 (50%) $565 (60%) FY22 €24 (100%) RYANAIR MORE CHOICE. LOW FARES. GREAT CARE. FY23 $595 (35%) $605 (35%) $600 (35%) FY23 €24 (35%) 4 19#20App 2: Enviro. Initiative's BIO Goal of 12.5% SAF by 2030 Plastic free by 2025 (80% there) 9 10 CO Sustain Aviation Research Cen - TCD Vol. carbon offsets. 4 Green Partners (Malawi, Portugal, Turkey & Uganda) Call on EU Comm & States to speed up SESAR reform - 10% less emis. 11 Target CDP 'A' Rating CDP A LIST 12 $22bn invested in new fuel technology a/c EUROPE'S CLEANEST & GREENEST AIRLINES GROUP 1ST AIRLINE NEW 1 5 RYANAIRD A Paid €630m in envir. taxes in FY20 First major airline to report monthly CO2 emissions RYANAIR MORE CHOICE. LOW FARES. GREAT CARE. Highest load factors - lowest emis. per pax 96% ifi 3 60g CO2 by 2030 66g CO2 per pax/km cut by 10% by 2030 New Boeing 737s cut noise by 40% per seat 4 20#21Disclaimer Certain of the information included in this presentation is forward looking and is subject to known and unknown 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. In addition, forward looking statements require management to make estimates and judgements about future events that are inherently uncertain. Although these estimates and judgements are based on management's best information available at the time, actual results may differ significantly from these estimates. A number of factors could cause actual results and developments to differ materially from those expressed 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 and North Africa. Among the factors that are subject to change and could significantly impact Ryanair's expected results are the airline pricing environment, fuel costs, "Brexit", a global pandemic, competition from new and existing carriers, market prices for 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 Central Bank of Ireland, Euronext Dublin, the UK Financial Conduct Authority, the London Stock Exchange, the NASDAQ Stock Market, the U.S. Securities and Exchange Commission or by any other rules of any applicable regulatory body or by applicable 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. You should not place undue reliance on any forward-looking statements. The forward-looking statements in this presentation speak only as of the date of this presentation. RYANAIR MORE CHOICE. LOW FARES. GREAT CARE. 4 * 21