Investor Presentaiton

Balanced Capital Allocation Priorities 1 Reinvest in the Business 2 Maintain Investment Grade Balance Sheet Renewing Delta's fleet with more efficient next-generation aircraft, while investing in facilities and technology for future growth Targeting adjusted debt to EBITDAR range of 1.5x - 2.5x, supporting investment grade rating through the economic cycle 3 Return Cash to Owners Consistently returning cash to shareholders, targeting 70% of free cash flow returned to owners annually U9 CER SHARES of the itale 10000 10000 JANET 000 EF5 ADELTA 73

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