Continued Strong EBITDAR Margins

Cargo: Go Forward Plan Action Plan in Place to Grow Cargo Revenues AIR CANADA CARGO Optimization of the Toronto "Cargo Hub" • • Improve efficiencies at primary hub in Toronto Leverage new Air Canada destinations globally Seize increased capacity opportunity with 777 & 787 • Dedicated freighter service through Cargojet partnership Objective: build a competitive and efficient Cargo operation 58

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