Continued Strong EBITDAR Margins

Select Cost Reduction Initiatives Fuel Wages and Salaries Aircraft Maintenance Sales and Distribution Other ° 0 0 Decrease aircraft weight Reduce fuel transportation costs Replace legacy fuel inventory and cost management system New crew payroll system New Employee Health and Wellness Program Automation of passenger ticket changes (Amadeus) New flight attendant crew pairing system (Jeppenen) Optimization of workscope related to fleet retirements Vendor consolidation - Expendable parts purchasing ownership transferred to one vendor New software to reduce deicing costs Reduction in payment acceptance costs with the implementation of alternate forms of payment and the introduction of payment wallets on aircanada.com Expect benefits from an enhanced distribution agreement (increased flexibility and better economic terms) Fraud reduction initiatives (3D identification, Hawkeye tools, etc.) • Toronto cargo hub optimization • Repatriation of Jazz STOC activity under Air Canada • Improved oversight of Jazz station management 82

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