Continued Strong EBITDAR Margins

217 RAGS 49025 182 5839 67435 2453 825 6358 28280 217 836 AIR CANADA 4.25% 375.69 9.56 2435 Fed Feb 25 5364 37569 356 2435 4523 825 635% 8963 763 4445 255 635 835% 28280 217 8368 +8025 1321 120% 565 37569 368 2435 45.23 825 835 896.33 763 4445 45.23 825 6.35% 375.69 9 2017 159 65.36 83698026 1321 1.20 896.33 763 4445 255 6.36 -95.36 282.80 217 8368 +80.25 1321 2453 933% 89833 763 4445 255 825 6.35% 256.36 278 56:39 +74.36 245.3 80 217 8368 +8025 1321 335% 37569 956 2435 -4523 825 67 425375.63 356 24.35 45.25 6.35 Investor Day 35 702-533 335 536 37569 956 2435-4523 825 6.35% 89833 Universal Eventspace, Toronto September 19, 2017 734445 255 635 835% 282.80 217 8368 C-GJWI 1321 120% 89633 AIRBUS A321-200

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