#1Q3 Results - Jan. 2023 RYANAIR Low fares, great care#2Europe's Lowest Cost Airline Group ✈ Lowest fare/lowest cost EU airline group ✈ No. 1, Traffic: 168m (+13% pre Cov.) ✈ No. 1, Cust. service & reliability ✈ No. 1 EU ESG airline - Sustainalytics ✈ Strong (BBB) bal. sheet (S&P & Fitch) ✈ Fin. strength + lowest cost = L.T. winner 2 RYANAIR Low fares, great care BUZZ Lauda *MALTA AIR RYANAIR RYANAIR#3Europe's No. 1 Coverage & Choice ✈ 91 bases ✈236 apts, 36 countries 523 aircraft ✈2,450+ routes ✈ 3,200+ daily flights 3 ✈ 225m pax FY26 RYANAIR Low fares, great care BUZZ TERCEIRA OPONTA DELGADA MADEIRA OLANZAROTE FUERTEVENTURA TENERIFE (N) TENERIFE (s) GRAN CANARIA KNOCK SHANNON DUBLINO KERRY CORKO LISBON Lauda GLASGOW (1) CLASGOW (P)O DERRY BELFAST MANCHESTER LIVERPOOLO BIRMINGHAM CARDIFFO NEWQUAY ASTURIAS PORTOO FAROO SANTIAGO SANTANDER VIGOO MARRAKESH ESSAOUIRA JEREZ TANGIER BRISTOL EXETER VITORIA VALLADOLID MADRID SEVILLE EDINBURGH MALAGA NEWCASTLE TEESSIDE LEEDS DEAST MIDLANDS LA ROCHELLE AGADIR ABERDEEN BORDEAUX BIARRITZ TETOUAN LONDON (L) AMSTERDAM LONDON (ST) EINDHOVEN LONDON () MAASTRICHT BRUSSELS (z) BOURNEMOUTH LILLE BRUSSELS (c) CASTELLON VALENCIA ZARAGOZA RABAT OUJDA FEZ LOURDES CARCASSONNE OUARZAZATE ALMERIA ONADOR CALICANTE MURCIA PARIS (B) 10 NANTES TOURS OPOITIERS LIMOGES TURIN VERONA BERGERAC RODEZ CUNEO GENOA NIMES TOULOUSE GRENOBLE PARMA MARSEILLE PERPIGNAN NICE PESCARA BEZIERS BARCELONA (G) BARCELONA MALTA AIR OBRIVE REUS IBIZA PALMA o OSLO (G) AALBORG TORP AARHUS BREMEN MENORCA OBILLUND LUXEMBOURG FRANKFURT (H) HAMBURG MÜNSTER (os) SZCZECIN DORTMUND PADERBORN BERLIN ODÜSSELDORF (w) LEIPZIG COLOGNE BM FIGARI ALGHERO ÖREBROO CAGLIARI GOTHENBURG VÄSTERAS STOCKHOLM (A) CVÄXJÖ COPENHAGEN MALMO BADEN ONUREMBERG VATRY STRASBORG MEMMINGEN ODOLE n SALZBURG BASEL MILAN (B) TRIESTE CLERMONT MILAN (M) TREVISO ORIJEKA OVENICE (M) PULA BOLOGNA FORLI RIMINI ANCONA PISA PERUGIA ZADAR SPLIT LULEA ROME (C) ROME (F) PALERMO TRAPANI (M) COMISO SKELLEFTEÅ NAPLES LAMEZIA DRESDEN WROCLAW PRAGUE od U PARDUBICE BRNO VIENNA KLAGENFURT OLSZTYN-MAZURY RYANAIR MALTA OVISBY GDANSK OCATANIA POZNAN ZAGREB OSTRAVA OBRATISLAVA CBYDGOSZCZ PODGORICA BARI LODZ BANJA LUKA TUZLA DUBROVNIK CROTONE LAPLAND TAMPERE LAPPEENRANTA HELSINKI BRINDISI PALANGA WARSAW (M) WARSAW (C) OLUBLIN KATOWICE ORZESZOW CBUDAPEST ORADEA KEFALONIA KRAKOW KOSICE ONIS ORIGA TALLINN KAUNAS KALAMATA TIMISOARA SIBIU VILNIUS CLUJ CHANIA ZAKYNTHOS SOFIA PLOVDIVO SUCEAVA OTHESSALONIKI CBUCHAREST CORFU PREVEZA SKIATHOS ATHENS MYKONOS KOS BODRUM CIAŞI SANTORINI VARNA BURGAS RHODES HERAKLION ODALAMAN EILAT RYANAIR UK PAPHOSO LARNACA TEL AVIV AMMAN AQABA#4€ per pax Europe's Lowest Costs Staff/efficiency Airport & Hand. Route Charges Own'ship & maint. S & M other Total (i) The gap widens: (ii) 9mth FY23 4 RYA RYANAIR Low fares, great care 7 8 5 7 4 31 30 WIZ BUZZ 6 11 5 (i) Source: Pre Covid-19 FY Results (ii) FY23 (y-t-d) trading updates (31 Dec.). LUF/IAG based on 9m data at 30 Sept. 14 3 39 (+26%) 46 (+53%) Lauda EZJ 10 22 5 9 7 ▬▬▬ Gap Widens 53 (+71%) 75 (+147%) *MALTA AIR LUV 55 9 0 17 20 101 (+226)% 125 (+314)% RYANAIR LUF 35 29 LO 5 45 28 IAG 48 39 5 36 15 142 (+358%) 143 (+360%) 164 (+441) % 166 (+448%) RYANAIR#5(i) 5 Q3 FY23 Results Guests (m) Load Factor Revenue Op. costs PAT / (Net loss) EPS (€) Q3 FY22 RYANAIR Low fares, great care 31.1 84% €1.47bn €1.59bn € (96m) (0.13) Excl. €9m except. unrealised mark-to-market loss on jet fuel caps BUZZ Lauda Q3 FY23 38.4 93% €2.31bn €2.15bn (i) €211m 0.18 *MALTA AIR vs. PY +24% +9pts +57% +36% n/m n/m À RYANAIR O RYANAIR#66 Balance Sheet €'bn Assets Cash Total Accruals Debt S/H Funds Total RYANAIR Low fares, great care BUZZ Mar. 22 11.6 3.6 15.2 4.6 5.1 5.5 Dec. 22 15.2 11.6 4.1 15.7 4.4 5.0 6.3 15.7 Lauda *MALTA AIR B737 fleet 96% debt free Strong liquidity Net Debt €0.96bn (€1.45bn @ Mar. 22) RYANAIR RYANAIR#7Balance Sheet Strengthens ✈ S&P / Fitch upgrade BBB outlook 'Positive' from 'Stable' Strong liquidity - €4.1bn at 31 Dec. ✈ Net debt €0.96bn (post €1.3bn capex YTD) 7 Strong cashflow to repay bonds & fund capex: Mar. 23 - €850m bond (@ 1.125%) Aug. 23 - €750m bond (@1.125%) Capex FY23 - €2.0bn (prev. €2.3bn - timing of delivs.) Capex FY24 - €2.5bn (prev. €2.2bn) ✈ Aim for zero net debt by Apr. 24 RYANAIR Low fares, great care BUZZ Lauda *MALTA AIR RYANAIR RYANAIR#8Current Developments ✈ Q4 bookings still closer-in than 2020 - no Easter in Mar. ✈ Strong demand & pricing for Easter & S.23 adv. bookings ✈ T'atlantic & Asian traffic to Eur. stronger in S.23 → Ex-fuel unit costs of €30 lowest in industry ✈ 84 "Gamechangers" @ Q3, 99 @ Q4 ✈ Lower (ex-fuel) costs & strong hedges support S.23 growth ✈ V. strong share gains in all markets post Covid ✈ On track to grow traffic to 225m by FY26 RYANAIR 8 Low fares, great care BUZZ Lauda *MALTA AIR RYANAIR RYANAIR#99 Strong Mkt Share Gains Italy Hungary Austria Poland Ireland UK Spain No. 1 RYANAIR Low fares, great care RYANAIR (40%) RYANAIR (32%) AUA RYANAIR (38%) RYANAIR (58%) RYANAIR (24%) RYANAIR (23%) Source: Ryanair market analysis; *Apr. - Dec. 2022 vs Apr. - Dec. 2019 Lauda BUZZ No. 2 easyJet Wizz RYANAIR (19%) Wizz Aer Lingus easyJet Vueling *MALTA AIR No. 3 ITA Lufthansa Wizz LOT BA BA Iberia RYANAIR Share gain +14pts +13pts +11pts +11pts +9pts +3pts +2pts RYANAIR#10M 220 180 140 100 60 20 10 Growth to 225m pax p.a. by FY26 Guests 149 FY20 RYANAIR Low fares, great care 27.5 FY21 BUZZ 97 FY22 Lauda 168 FY23E 185 FY24E *MALTA AIR 205 FY25E RYANAIR 225 FY26E 210 x B737 "Gamechanger" order ↓ More seats Less fuel Lower costs ♫ Addit. capac. for airports to restore traffic Lower apt. & hand. costs ↓ Lower fares ↓ Traffic + profit growth RYANAIR#11Summary ✈ FY23 Traffic: 168m pax (+13% pre-Covid) ✈ Q4 loss - no Easter in Mar. ✈ FY23 PAT guide raised - €1.325bn to €1.425bn Strong return of U.S. & Asian visitors to Eur. in S.23 Robust S.23 demand - target 185m pax in FY24 ✈ Faster post-Covid growth: 225m pax p.a. by FY26 ✈ Strong BBB (pos.) bal. sheet = fleet & market share gains ✈ Fin. strength + lowest cost = L.T. winner 11 (i) pre-except PAT subj. to no adverse events (such as Covid or war in Ukraine) RYANAIR Low fares, great care BUZZ Lauda *MALTA AIR (i) RYANAIR RYANAIR#12ESG update ✈ MSCI upgrade to 'BBB' / CDP 'B' reaffirmed ✈ No. 1 rated EU airline by Sustainalytics Hosted ind. leaders @ Sustain. Day in TCD ✈ MOU with Shell - 360k tonnes SAF ✈ NG retrofit with scim. wingl. (-1.5% fuel) ✈ Anne Nolan joined the Board in Dec. 12 ✈ Q3 CSAT score rises to 86% (83% for H1) RYANAIR Low fares, great care BUZZ Lauda *MALTA AIR E3 can be Enew aircraft Ryanalt Sutana Erensic Mode Alcan Tesearch Conse ANH Ryanair Sudona Letm RYANAIR IB pins cerbation an Ref PATHWAY TO NET ZERO MOL reviews PHD's research at RYA/TCD Sust. Aviation Research Centre Ryanair Sosarcole Aviation Rese RYANAIR Sustainable Aviation reduce enegy cem ÉT#1313 Appendices war RYANAIR Low fares, great care TRYANAIR BUZZ Lauda RYAN RYANAIR *MALTA AIR S "BARS OPEN C BRANA BE BUZZ RYANAIR RYANAIR RYANAIR#14(i) (ii) (iii) 14 Appendix: Strong hedge position Q4 FY23 H1 FY24 H2 FY24 FY24 Jet (bbl) RYANAIR Low fares, great care 88% ($71) BUZZ 60% ($90) LLauda 53% ($94) Carbon FY24: 48% @ €78 per carbon credit 57% ($92) Brent crude spot > $87 bbl. Conv. rate of 10 simplistically used to convert jet met. tn. to bbl. €/$ spot 1.09 at cob 26 Jan. 2023 Carbon spot c. €85 per credit (EUA/UKA blended) at cob 26 Jan. 2023 Capex €/$ 1.24 to end of Boeing order book (W.25) (i) (iii) *MALTA AIR Opex €/$ 84% (1.15) 62% (1.08) 62% (1.08) 62% (1.08) RYANAIR (ii) RYANAIR#15Appendix: Best in class ESG 15 Ratings: SUSTAINALYTICS MSCI CDP DISCLOSURE INSIGHT ACTION Member of: CNBC SUSTAINABLE CO FUTURE FORUM RYANAIR Low fares, great care BUZZ NO.1 RATED AIRLINE IN EUROPE BBB B COMPACT Lauda *MALTA AIR RYANAIR GROUP AVIATION WITH PURPOSE 2022 SUSTAINABILITY REPORT BUZZ Lauda AMALTA AIR SCIENCE BASED TARGETS RYANAIR RYANAIR Committed to: RYANAIR DESTINATION 2050 RYANAIRS#1616 Appendix: Ambitious Climate Goals 01 EFFICIENCY Highest standards fuel efficiency (RYR SOPs). 04 REGULATION Work with policy makers to develop smarter regulation to support ambitious ATC reform and climate target. RYANAIR Low fares, great care BUZZ 02 FUEL Work with suppliers to aim for 12.5% sustain. aviation fuel (SAF). Industry-leading SAF target 12.5% by 2030 5 05 REDUCTION Prioritise carbon reduction over carbon offsetting. LLauda *MALTA AIR 03 TECHNOLOGY Invest in fuel saving aviation technology. Ile |||||| 06 INSIGHTS Work with industry to share insights that help achieve ambitious climate goals. RYANAIR RYANAIR#17Disclaimer 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 or 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 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 or 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. 17 RYANAIR Low fares, great care BUZZ Lauda *MALTA AIR RYANAIR RYANAIR