Investor Presentaiton

Balanced Cash Deployment Over the Last Decade 2010 to 2019 Cumulative Operating Cash Flow Business Investment $64 billion Shareholder Returns Balance Sheet Core capex, airport, strategic Share repurchases, dividends Debt reduction, pension funding ~50% -20% -30% Note: All metrics calculated over 2010 to 2019E period. 2010 to 2019 cumulative operating cash flow excludes cash funding to pension; adjusted for special items; non-GAAP financial measures reconciled in Appendix ADELTA 72

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