Investor Presentaiton

Segment performance - domestic airlines RASK growth achieved by both brands. Group domestic capacity reduced in line with strategic realignment and soft demand environment Virgin Australia Domestic Total Revenue ($m) For personal use EBIT ($m) S Guests (m) ASKS (m) RASK (c.) Virgin australia group 1H20 1H19 Change Domestic capacity reduction responding to subdued domestic market conditions 2,114.2 2,082.3 +1.5% 112.9 178.1 (36.6%) Fuel cost increase of $23.2 million 9.57 9.39 +1.9% EA Labour costs up 2.7%. Non - EA costs flat, with benefits of workforce reduction program expected in 2H20 13,762 13,837 (0.5%) Airport terminal fees increase at 2.5 times the rate of CPI¹ 15.4 15.0 +2.1% Tigerair Australia 1H20 1H19 Change Total Revenue ($m) 305.4 302.6 +0.9% EBIT improvement driven by ongoing fleet simplification EBIT ($m) Guests (m) ASKS (m) RASK (c.) 2.0 (6.6) +130.3% 2.20 2.22 (0.7%) Fuel cost increase of $4.3 million, offset by effective cost control including reduced maintenance costs in line with fleet simplification 2,961 2,950 +0.4% Network optimisation continuing with capacity adjustments announced for 2H20 10.3 10.3 +0.6% Notes: 1) Company estimate including wages and other inflation Virgin Australia Group has implemented AASB 16 Leases from 1 July 2019 using the modified retrospective approach. Under this approach, prior year comparative information has not been restated. Year on year changes and commentary have been based on pre-AASB 16 information ("pre-AASB 16") to allow for comparison. 1H20 Segment financials excl AASB 16 to enable prior year comparison. This page contains Non-Statutory measures which are defined on slide 23. Following modification of accounting presentation for unrealised Foreign Exchange, 1H19 numbers have been restated accordingly. Virgin Australia Group results H1 FY20 | 5

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